I'm just curious as to some ways how to keep motivated?

Question

Hi,

I'm just curious as to ways others keep motivated?

As for me: I keep my end goals in mind and remind myself of the benefits.

Cheers!

Wandanna

Will Barnard · Answer

Motivation for me always came from within. When I first started looking into real estate, I attended several guru events, all of which had all the pumped up "hot air" motivation techniques. Everybody is not like me of course but I do want to point out the importance of your own self motivation within. Without that, all the external motivation may be all for nothing.

Erik Hanson · Answer

Wandana,  While I am just a hobby LTR investor at the moment (not relying on my investments for income and rolling all cash flow back into purchasing new properties) I do have a piece of advice to help keep yourself motivated.

Reward Yourself -

Keeping the end goal in mind is great but you need to give a little back to yourself before then as a tangible reminder of what you are working for.

Personally since my investment plan is very long term (not utilizing any cash flow for living expenses for another 10 years) I take 10% of the cash flow per month and put it in a savings account that I use for a family vacation.

it it a tangible reminder of what this money provides and it has also encouraged my son to take a more active interest in real estate investing because he sees how lucrative it can be.

Oh, and since the members of my family are also members of my LLC, we usually schedule a couple of afternoons of meetings so we can deduct the cost of the entire trip.

Erik

Veni F. · Answer

Welcome to the BP family @Wandanna W.! I have listed some helpful recommendations for you:

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