Personal Development

6 Reasons All Real Estate Investors Should Be Journaling

Expertise: Commercial Real Estate, Personal Finance, Real Estate Marketing, Business Management, Landlording & Rental Properties, Real Estate Investing Basics, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing
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Daily journaling is a common practice among the investors who accomplish big things. How might it help you?

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6 Reasons All Real Estate Investors Should Be Journaling

1. Journaling promotes focus.

There are many ways to journal. One of the things that I do daily is write out my goals when I wake up and before I go to bed. I’ve found this to be far more effective than just reading them and writing them once at the beginning of the year.

When you put this level of effort and attention into your goals each morning, it definitely helps you develop more passion for your goals and keeps you focused. Start each day with a keen focus on what you want to achieve, and you’ll make a lot more progress towards where you want to go. It especially helps with prioritizing your day, making decisions, and keeping your eye on the big picture.

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2. Journaling creates daily wins.

Consider each day that you stick to your goal of journaling a success. If you accomplish nothing else, at least you’ve journaled. Starting your day with a win and accomplishment can build your confidence — and helps propel you to more wins throughout the day on a regular basis.

3. Journaling builds a track record of success.

Documenting your successes is important. It shows you what you can accomplish and what you are capable of. If you had been journaling since you started in real estate, you’d probably already be surprised at your progress. You get to see how your skill level and confidence have grown — and how your goals and wealth have progressed.

Related: How to Set Short, Mid & Long-Term Goals on Your Quest for Financial Freedom

Even tracking consecutive days of journaling success can give you a boost. This is even more important when things aren’t going right. We are too easily tricked into negative thinking. A success journal shows you what you are capable of doing and how extraordinary you are.

4. Journaling acts as an annual checkup.

A journal is a great tool for annual reviews. Look back over your journal each year. See the progress you have made toward your goals. Recognize where you can do better or perhaps where you should focus more energy and thought for the next year.

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5. Journaling creates good habits.

They say successful people are simply the culmination of good daily habits. If that is true, and if many of the most successful people journal, then this is a success habit to model daily. It may also be used as a launchpad for more great habits or replacing other habits. Maybe you start journaling instead of waking up to check your Facebook in the morning. Then perhaps you make a habit of going for a run or walk after you finish your journaling. Just keep building on it.

Related: A Third of Americans Have No Savings: Here’s 7 Habits We NEED to Adopt

6. Journaling leaves clues for the next generation.

Too often we don’t get to pass on the knowledge we really want to. Time is short, and kids may not be ready to receive the information at a young age. Leaving a journal is a great and powerful way to pass on your thoughts, wishes, and good habits to the next generation.

Have you tried journaling yet? What has helped you get the most out of it?

Let me know with a comment!

Sterling is an multifamily investor specializing in value-add apartments in Indianapolis and other Midwestern markets. With just under a decade of experience in the real estate industry, Sterling w...
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    Chris Pickrell from Houston, Texas
    Replied over 3 years ago
    So how much do you journal? Obviously, a novel everyday is too much. What is too little?
    Sterling White Rental Property Investor from Indianapolis, IN
    Replied over 3 years ago
    I journal when I wake up and before I go to bed..My journaling mostly consists of goal writing in the present tense..
    Marcell Bianchini Investor from Pompano Beach, Florida
    Replied over 3 years ago
    A journal also makes for good support when the tax man comes knocking. It provides the contemporaneous documentation you require to be considered a real estate professional, if that’s your goal.
    Sterling White Rental Property Investor from Indianapolis, IN
    Replied over 3 years ago
    Interesting perspective..Not one that crossed my mind. Did you plan on journaling for that reason, Marcell?
    Eric Couturier Investor from Spotsylvania, Virginia
    Replied over 3 years ago
    I am on my second “journal”, first one filled up so quick as I knew so little and has slowed down to about an entry every other day or so. When I first got started I would fill out a page or two a day! SO GLAD I took the extra couple minutes to jot down these bulleted “knowledge nuggets”. I also add in magazine clippings/pictures of things I may need in the future. Answer really depends on how much you learned that day or week. Best of luck!
    Sterling White Rental Property Investor from Indianapolis, IN
    Replied over 3 years ago
    Thank you for the transparency! How long have you been journaling, Eric? I like the idea of incorporating magazine clippings/ pictures of various things..
    Dede Christensen Property Manager from San Mateo, California
    Replied over 3 years ago
    I have a “to do” list which ties into all contractor, tenant and other business calls. This is invaluable. Other things I put on my to do list is: set up budget, read Bigger Pockets, and network on other professional sites. I also cultivate mentors. It is similar to a log.
    Sterling White Rental Property Investor from Indianapolis, IN
    Replied over 3 years ago
    Thank you for the comment..How has the “to do” list strategy working out for you, Dede?
    Dede Christensen Property Manager from San Mateo, California
    Replied over 3 years ago
    It is working. The property has had many unexpected costs. I will not use the work “luxury” in marketing since it sets up impossibly high tenant expectations. The market is small for long term rentals where we have the property, so I have had to accommodate tenant’s requests to meet advertised luxury impression. We will have to add in utilities to the lease next time since the utility price in Hawaii is insanely high.
    Katy Fry Investor from Careywood, Idaho
    Replied over 3 years ago
    Any thoughts/ideas on the journaling tools? Do some of you use just simple notepads? Computers? Three ring binders? How do you keep it organized, if you do? I get started and then my ideas/thoughts/plans wind up in stacks of notes and other papers so there is no organization. Would love some tips on this. Thanks
    Dede Christensen Property Manager from San Mateo, California
    Replied over 3 years ago
    I’ve had to keep a spreadsheet of all repairs, what caused the problem (tenant or it just broke), who I called, who is handling (me or local emergency contact), cost, reimbursement to tenant (fridge broke, have to credit $$ back to tenant).
    Sterling White Rental Property Investor from Indianapolis, IN
    Replied over 3 years ago
    I do a pen to paper..I just write and do not worry too much about organization..A simple notebook will do..
    Benjamin Cowles from Cape Coral, FL
    Replied over 3 years ago
    Great advice. I shall put it in my habit making app(habitbull). I suppose I already do it on a regular basis but not on a DAILY basis and you can’t focus too much on your goals