Is being overly ambitious bad?

Is being overly ambitious bad?

New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
Hello BP family. Let's get right to it. I've always been an ambitious go getter since I was a kid. Never followed the pack always stood alone and wanted more than the average. I grew up in a low income area, but always ventures out to discover more. It expanded my mind at a young age and instilled the mentality of, "if they can get it, I can too". I had no one to share my goals and visions with because they were stuck in the "poor, only rich people can have these things or do this and that mindset". It never discouraged me. As I get older I want more and my goals grow. I started running a clothing brand and learned a lot from my venture. I learned marketing, customer service, social media marketing and a lot more. I recently put it on hold because it was growing and I needed more capital to continue to expand. I've always wanted to become a REI and always thought that I need a lot of money to do so until I started researching and it just went on from there. Reading books, listening to podcasts, going to events, etc. I'm a GO-GETTER, my mentality is, I come from nothing, so I have nothing to lose and everything to gain. A few of my short and long term goals are(no particular order): -invest full time -have an expansive rental portfolio -run a successful investing company, closing at least one deal per week -speak to people about wealth(motivational speaker -continue growing my clothing brand -develop an island in Fiji -write a book -open a Rec center in my old neighborhood that teach the kids different things besides gangs, violence, and drugs -own part of an NBA team Most people will tell me that I want to do too much, but I have it planned out with a timeline of when I want to achieve these things. There will always be alterations to your goals, I don't expect it to go as planned. I am working hard on achieving one goal at a time and I WILL MAKE IT HAPPEN. This is just me venting, sometimes you need the encouragement from others, whether that be someone telling you to go for it or the person that isn't as ambitious and say "you can't do it all". I am very appreciative of everyone's POV. Thank you and sorry if the post is too long.
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Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
9y
Dorian Jones Overly ambitious can be a double-edged sword. Since you want to own an NBA team I'll try and use some horrible basketball analogies. So many ambitious real estate investors (new ones) are looking to hit that 3-point shot every, single, time. They don't look to the post for the well positioned center for the easy layup. A layup gets you two points but there's very little risk. A three pointer is 50% more points but a ton more risk. But in real estate you don't have people rebounding down low. You jack up that three (a high risk investment) and you miss, well you don't get a second shot. Taking the needless three for the sake of ambition isn't (my opinion) the smart play. There's nothing wrong with passing (on deals and the metaphorical basketball) until that east layup presents itself. Okay, I admit, this is a really poorly constructed analogy but I hope it makes sense.
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  • Investor · Salt Lake City, UT · Member since 2016 · 287 posts · 270 votes
    9y
    Dorian Jones I love your goals and your mindset! You are my kind of guy. The only piece of advice I would add is that one pitfall of being overly ambitious may be the sacrifice of family. I find myself guilty of this at times...focusing on goals geared towards wealth generation at the expense of spending time with my wife and two daughters, all of whom I wouldn't trade for a trillion dollars. It's a balancing act for sure. Of course I have no idea of your personal life as it relates to family but the point I'm trying to convey is that having a family and children is the best, the pinnacle. I can't imagine anything bringing me so much happiness and satisfaction. You CAN have it all so crush your goals!!
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Paul Hitchings Hey Paul, thanks for the motivation. I am brand new just starting out. I am in the process of looking for my first house hack using an FHA loan. I've also started a direct mail campaign to find motivated sellers. Just grinding man working on setting up processes.
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Linda D. Thank you for your response. I completely get where you're coming from. Work on the small things to build up to the big picture.
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Ryan E. hey what's going on man? Thanks for bringing that up. You are 100% correct. You can get so focused on success and forget about the more important things. I am sometimes guilty of that and find it hard to balance not just family, but also neglecting myself at times. That is a big challenge.
  • Investor · Pueblo West, CO · Member since 2014 · 310 posts · 213 votes
    9y

    Just make sure that you still make time for your friends and family. If you are so busy that you don't have any time for anyone else but yourself, your long-term relationships will suffer and it's usually not healthy.

  • Rental Property Investor · Rockford, IL · Member since 2014 · 4k+ posts · 2k+ votes
    9y

    @Dorian Jones,

    There are so many quotes I could cite from so many people. This one kind of stands out in my mind having just read your comment about family / life balance ...

    "A disorganized genius is no match for the average person with a daily routine." Set up times in your day when you ALWAYS focus on certain activities. Among them should be time for those who mean the most to you.

    Remember also to temper ambition with humanity.

    Money is not an "end" goal. Most of us don't want "slips of paper with pictures of deceased notables" on them, as Tony Robbins once said. We want what we think the money will do for us.

    As Dr. Steven Covey said, "begin with the end in mind." 

    Know what you want in your life. Use ambition to keep you going and money to help you get there.

    Hope this helps ...

  • Rental Property Investor · Pasadena, CA · Member since 2016 · 164 posts · 149 votes
    9y
    Originally posted by @Dorian Jones:

    Joe J. I'm an honest person so I won't do anything to anyone I wouldn't like done to me. Lakers would be nice, but pricey. I think I can pull it off though.

     Except the lakers owners have no interest in selling :)

  • Johnson City, TN · Member since 2014 · 586 posts · 705 votes
    9y

    Having goals in life is what keeps us alive and does not allow us to merely exist. I have found that you really need to take a really hard look at why you want to achieve a particular goal. Often, our motivation has nothing to do with that goal. Do we set particular goals because of societal programming? Will achieving that particular goal lead to true happiness or merely a feeling of why? I have always been the goal oriented type but not until a few years ago did I really change my thinking about what it took to achieve a goal. Most everyone sets a goal for whatever reason and then starts to list what they have to DO in order to achieve that goal. I now tend to think about what I have to GIVE UP in order to achieve this goal. Let's say that your goal is to lose weight and get in ripped shape. You first start to think about how you will have to start hitting the gym at least three days a week and running for miles on the other days. Of course there is the issue of a strict diet. No beer, pizza, twinkles, ice cream. Here comes the real issue. Suppose that you and your three best friendship have been meeting every Thursday night for years to eat pizza and drink a few beers. You know your willpower is weak and if you attended you would consume things you shouldn't. Do you GIVE UP this ritual? Suppose your spouse becomes jealous of your fitness and sabatoges your efforts causing marital problems. Are you willing to GIVE UP your marriage? I know this is extreme but it's real. Carefully and thoughtfully set your goals and  lock on them like a laser

  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Tim Chapman Thanks for for your response. Being goal oriented can be a problem in your personal life if you don't find that balance. I am human and feel that I can always improve in all aspects of my life. I'll have to stay conscious of my actions and make sure it doesn't take away from my personal life so much. At the same time, if someone doesn't understand your goals and support you then those aren't the people you need in your life.
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Thank you David Dachtera these reminders are needed especially when you are so focused of reaching goals that you set out. I have to continue to remind myself not to forget everything else outside of my goals.
  • Syndication Expert and Investor · Indianapolis, IN · Member since 2016 · 591 posts · 808 votes
    9y

    Looking for partners on that Fiji development?

  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Spencer Gray In the future. That is a long term goal right now. Have a few more things to do on my list before I get the ball rolling in that.
  • Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
    9y
    Didn't read your Iliad but as to the subject: Noooooooooooooooooo I want to own $100m of RE with $200k/month income. That might be the level I "stop" at.
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    9y

    Why stop...ever?  Just set the next set of goals, and the reasons/uses for them, and go for them too.  All it takes is time.

    and there's not greater time than the present, and not greater present than time.

  • San Francisco, CA · Member since 2017 · 74 posts · 64 votes
    9y
    Hey from the post I can see that you will achieve those goals! I always have lots respect for entrepreneurs and you seem like a successful one !especially since you had nothing before and nothing to lose. I say go for it, all of them!
  • New to Real Estate · Los Angeles, CA · Member since 2017 · 118 posts · 60 votes
    9y
    Chingju Hu thank you. I will knock it out the park
  • El Segundo, CA · Member since 2017 · 43 posts · 48 votes
    9y

    Yes, by definition, "overly ambitious" is bad... that implies that you're too ambitious for your own good. However, nothing wrong with just being "ambitious". The "overly" part is a just a subjective measure that's relevant to the specific individual being referred. If you're capable of accomplishing all those things, then that's not "overly ambitious". 

  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    9y

    Know what the 2 differences between being described as "overly ambitious" and "very ambitious"?

    #1:  Being prepared, and not being prepared.

    #2:  The source of the words...not, the target.

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