A question for all of you BPers. How do YOU stay involved in real estate investing when life gets in the way?
A little background. We started investing last April and picked up 3 rental properties before the end of the year. We had big goals for the year but had several things come up that set us back. A funeral back at home in Minnesota set us back financially a bit that we weren't expecting. We've had 2 cars die within a month. Busy stretches at work. Now a new job at work, but have to take the Series 3 exam. And weddings, weddings, weddings, and more weddings, and birthday parties (a 91st for a grandmother and some for young nieces and nephews). My wife's friends decided to have a 30th birthday party out in Vegas so we ended up tagging along there as well. Then, we had the rainiest July in the history of Indianapolis, which caused a basement to flood and a furnace to flood and stop working, so a new HVAC system installed.
All of these things either took away a lot of money, time, or both, and we simply haven't been able to do as much real estate investing as we would've liked this spring and summer. We were able to add one more rental property, but we were hoping we'd have a few more at this point.
So, especially for those of you that work full-time outside of real estate, how do you keep yourself active and motivated when a ton of life events get in the way?
Here's to life slowing down so real estate can start speeding back up!
Life doesn't go as planned.
Maybe your 5 year plan will take 7 years to accomplish.
The thing is, that is okay.
As long as you keep making the right decision for your business.
Sustainability then the growth happens.
Keep to your budgets.
Sometimes you have to let yourself be sidetracked, because life does happen. You have to take care of your family and loved ones when they are in need.
Once you have fulfilled their needs, you get back to work.
Also, the rain has been ridiculous. Welcome to Drip Drop Apartments how can we help you?
I hear ya! I work a ton of hours for my full time job, and I have a wife and 2 babies that want some attention after a long day. The key is to take small steps each day. Make sure you are doing SOMETHING each day that will get you to your goal. EX. Plan out 1 activity you can do that day, while you are on the road to work, make some calls or find leads on your lunch break (if you are lucky enough to get one).
When all else fails, you may have to stay up late into the night, but if you see a future in this business it will be worth it right?
Good luck and here is a quote that always helps me, "entrepreneurship is living a few years of your life like most people wont, so that you can spend the rest of your life like most people can't
This is why so many people buy turn key properties. It's hard to be an active investor when you have a busy work and family life.
@Rodney Kuhl -- sorry to hear about the funeral, followed by all the weddings. Life is usually busy and plans often change.
But as Mike said, the good news is that there are always ways to invest in real estate. You don't need to be an active investor in order to be successful and build a great real estate portfolio. Most of the people I talk to work full-time, have family obligations, do housework, are involved in sports, have continuing education, and the list goes on. They are also successful real estate investors. So, there's no reason why you can't be as well.
Just find a way that works for you and do it.
You are not alone. I too am no way near the 10X goals I had set for myself this year.
Life Happens :) enjoy it, be present, and keep looking forward.
I keep my reading materials with me at all times and my phone stocked with podcasts and audible books so even though I don't have time to work on my investing every day, at least I can read or listen in any small amount of spare time I can find and keep up on education and motivation. I am contributing to my education which is essentially and eventually going to contribute to my portfolio.
Getting up an hour earlier is a great way to find uninterrupted time.... when I can do it.
I write lists, like many others, of the little goals. They help eat away at the bigger goals until I have time to crush them :)
Going to local REI groups and of course the BP forums is also a good investment in my small amounts of time to keep in touch and make connections that again will help in future when I find that lot of time at the end of the rainbow.
@Rodney Kuhl - hang in there!
If you're not falling flat on your face a few times, then you're not trying hard enough.
I know it can be frustrating when [several] life events happen but all you can do is keep getting up with a positive attitude and visualizing your goals.
Have you done the "letter to yourself" goal strategy that I've mentioned in the past. That helps me get through tough days [that and lots of Call of Duty!].
I listen to this 4 minute quote from Arnold several times a year to help me keep energized and, of course, I start my day of saying to myself "Every day above Ground is a Great Day!".
Listening to the new podcast every week and liking BP on facebook so articles pop up in your newsfeed, so you always keep learning and feel connected. You'll naturally keep the interest and keep looking for deals when you do have time.
@John Van Uytven @Brian Cam @Adam Kent @Michelle T. @Vincent Crane
Thank you guys for the responses, tips, and motivation. I appreciate you guys offering advice and input on how you keep active. I definitely need to do a better job to make sure I'm doing something, no matter how big or small that day, for our business.
@Shawn Holsapple Thanks again for the encouragement. I had never heard that by Arnold. Very motivating. Something I'll continue to listen to often. And yes, I need to get back to the "letter for myself". Thanks for the reminder. I'll get back into things. Appreciate your help and encouragement!
@Rodney Kuhl number one, a clearly defined goal along the lines of what Shawn mentioned. The saying is "a goal well set, Is half met". What you say no to is sometimes more important up than the yes. Showing up, like I've seen yall do this week, staying connected with other active re investors keeps your eyes on the ball. Life happens, anticipate the unexpected , deal with it and move forward. Perseverance will get you there. I would also advocate a balanced life, work, play, physical, mental and spiritual development. Persevere.
Thanks @Don Harris ! Definitely need to get back to totally focusing on our end goals. And your advice about perseverance and also having a balanced life are definitely helpful. Appreciate it. Good to see you again last night!
Life always gets in the way - I found it super important to manage within the time you can invest. Ask yourself honestly how many hours you can put in, and invest within those times. Sorry to hear about the funeral @RodneyKuhl - best of luck!
"Life" is getting in the way for me right now too Rodney. At least this month its been hitting me hard financially but I know that there is nothing I can do about it but ride it out. Once that happens, I will get back on track.
And that is all you can really do. Ride it out, try to enjoy the parties/weddings/etc...
And sorry about your loss.
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