Even though I now owned over $5 million worth of property it was not the time to become complacent and rest on my laurels. It would have been all too easy to become a bit slack, but I was well aware that I needed to keep on going to achieve my next goal.
While it can be tempting to think about giving yourself a break and having some fun for a few months, you’d soon lose focus and motivation. Being out of the market for six months could mean no longer having expert knowledge of your chosen area, and you could also lose major contacts such as your top agents. Be aware that if you are not dealing with them regularly, they will start passing on those hot deals to another investor keen to take your place.
Set new goals
If you don’t know where you are going, how on earth are you going to work out how to get there? It is important to be very specific about goal-setting. I recommend committing goals to paper and making them extremely clear. It also helps to visualise them, which means really getting into what they look like and how it would feel to have achieved them.
Another helpful technique is the use of a vision board or vision book, in which you place a photo of yourself surrounded by images of the things you want to acquire or achieve. That way, every time you look at it, you’ll have a visual reminder of what you want your life to be like. Include photos or illustrations of all those things desired such as cars, holidays, investment-type properties, bank balances, asset statements, etc that inspire and motivate you.
It’s vital to know why you want to achieve the goals you set yourself. If the reason isn’t important enough, it’s unlikely that you’ll make the effort required to realise them. That reason can be very helpful in keeping you motivated when the going gets a bit tough.
The above post is based on the book “The 15 Million Dollar Man” by Sean Wood, to read more click Property Investment and download 2 free chapters.
|For further reading on Property Investment NZ, click on the articles below:
Setting Goals for Financial Independence – click here
Tips for Becoming a Property Expert – click here
Buying Rules for Property Investment – click here
5 Tips to Add Value through Renovation – click here