For many working Americans, success-the ability to live life how you wish-might seem far away from the daily work routine. But the ability to sustain your current standard of living without a job, IS attainable. It's called financial freedom, and it's entirely up to you. This article will provide you with a helpful map to reach your real estate income goals.
What is the difference between a common wage earner and a first generation real estate millionaire? Why do some people "make it big" while others only dream of success? Most of the time, "dreamers" fail in their attempts for success because of a combination of poor planning, lack of knowledge, and failure to follow a plan.
Dreamers are like fledgling hikers trying to reach a distant mountain peak. Although they can see the peak far above the trees, they get turned around and lose their way when they try to reach the summit. Sadly, most dreamers quickly give up. Once upon a time I was a dreamer, but I found a way to summit my mountain peak.
I'm not smarter or better than the average person, I just had a map. My map for success was charted through trial and terror by my father, an enthusiastic real estate entrepreneur. His map for success consists of three parts: 1) Visualization, 2) Affirmation, and 3) Actualization.
Visualization
The first part of the map is called visualization. Define in your mind and then on paper, what success means to you. Are you working towards a $100,000 income, a bigger home, college tuition? Is your idea of success sustaining your present lifestyle and income level, but without a job? If so, list your current income as Financial Goal 1 (write it down.) Feel free to add subsequent goals, for example:
Financial Goal 1-replace my salary with real estate income in 12 months
Financial Goal 2-create a $50,000 cash cushion in 18 months
Financial Goal 3-grow income by 50% in 24 months
Affirmation
The first part of the map involved setting a destination. Now you must prepare for your journey by affirming a successful attitude. Your path to wealth will be fraught with obstacles, and in order to reach your destination you must resolve within yourself that success is the only acceptable outcome. Don't be nave, attitude is difficult to adjust, and change is only possible if you believe in yourself. Financial freedom is entirely up to you.
My students at Investors United School of Real Estate include stock brokers, doctors, programmers, business owners, as well as cash-poor folks like Thurman, a laid-off baker with four children to feed, or Justin, an unemployed 23-year-old with bills to pay. Many people would say that the cash-poor folks are at a disadvantage, but last month Thurman made over $40,000, and Justin made $32,000! Why? These students needed the money so badly that they were forced to believe in success.
Do you believe that success is possible? Moreover, do you believe that you will succeed? There is no room for doubt. Say to yourself, "I will change my life. I am capable of great things. I can, I can, I can, I WILL!" Clear your mind of bills, clear your mind of nay-sayers and negative influences. Pull up anchor, and believe in your ability. You can do it.
Actualization
In the previous two steps, you conceived a goal, then affirmed that reaching your goal is possible. Step three requires action. Take out a sheet of paper and ask yourself:
What information do I need to accomplish my real estate goals?
Who are the people or groups that I need to work with?
What are the obstacles between me and where I want to be?
Your answers to these questions will form a path of action to reach your financial goals. Will you make calls to real estate owners? Search courthouse records? Contact owners in escheat? Attend auctions? Will you educate yourself? Seek a mentor?
When your written plan of action is complete, make it part of your everyday life. Success is a result of successful habits. We all have the same 24 hours; take the opportunity to replace bad habits with successful ones. Every moment is an opportunity to make a difference. Turn off the television, eliminate frivolous gossip. Allocate 15 minutes to one hour to make progress. When your time is over, stop. A little effort goes a long way.
Your successful habits are based upon priorities, the mark of a successful lifestyle. Recently, a friend asked when I plan to replace my old Jeep. "Would it be more frugal to spend $2,500 in repairs, or $30,000 on a new Jeep?" I questioned. According to the best-selling study of America's millionaires, The Millionaire Next Door, most millionaires believe that financial independence is more important than displaying high social status. Live below your means.
To maintain their motivation, many successful people admit to using a simple technique. They write their goals on three slips of paper: one for their purse or wallet, one for their bathroom mirror, and one for their desk or workspace. I have found this little trick to be an extremely effective reminder to take action.
The difference between dreamers and successful people is the system of visualization, affirmation, and actualization. Proven and powerful, these steps are a map for success in any endeavor. Handed down from my father, I used the map to control over four million dollars in real estate before my 23rd birthday! Using the same map, many of my students create tens of thousands of dollars (or more) every month.
Seize the opportunity and apply what you've learned here. Even if your goal seems far, far away, use your new map to conquer your mental mountain and summit success! After his final descent from Mount Everest, one climber was asked how he was able to climb the tallest mountain in the world. To which he answered, "one step at a time."
Ian Charles Parrish is a professional real estate investor and President of Investors United School of Real Estate in Baltimore, Maryland. He can be reached though InvestorsUnited.com
Investors United School of Real Estate is America's first professional school dedicated exclusively to real estate investment training. With personal mentoring, state-of the-art resources, and a practical hands-on approach, members "earn while they learn."
Wayne Dyer
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