Committing to Consistency

At the end of every BP podcast the question is asked, "What sets the successful investor apart from those that struggle?" I've found myself wrestling with that question recently and found a small tool that helped me answer that question. The tool was a mirror. I took a long look at what I've been doing as a real estate investor and found myself constantly starting and stopping. The consistency was lacking and it was causing me to lose focus on my RE goals. I decided that this summer I would start to work on those habits where I need to make the most improvements.

The first thing I did was commit to attending a small (usually less than 12 attendees) investor's luncheon that meets every Tuesday in Upland. Networking is not another strong point, so attending the meeting was putting me outside of my comfort zone. The meetings were fantastic. The amount of knowledge within the group and the willingness to share the successes, as well as the mistakes was encouraging. I was able to meet investors of all types. Wholesalers, buy and hold, flippers. I also was able to connect with buyers for two of the areas I am marketing to. The struggles I was dealing with had been dealt with by many of the the other investors.

Next, I decided to commit a budget to my direct mail marketing. The budget is not large by any means, but I am heading into my second round of mailings to the areas I am targeting. Along with the direct mail, I am "Driving for Dollars", and just letting people in my circles know what I am trying to accomplish as a RE investor. The leads haven't been pouring in, but I've talked to sellers on the phone and have sat belly to belly with others. I'm constantly reminding myself of something that Danny Johnson shared about trying to milk a lead into a deal when it's really not. The problem he said, ( I'm paraphrasing) is not the quality of leads, but the amount of leads that are coming in.

Joining Bigger Pockets has also been another great step in the right direction. I've listened to the podcasts numerous times and am committing today, to engage more on the forums. I appreciate the encouragement that many of the more experienced investors share with those of us that are just in the beginning phase of our investing career.

So all that being said, the reason I decided to write this is to ask for something else Bigger Pockets can offer, which is accountability. I know I need to create new self disciplines and habits to accomplish my goals. I'm getting started on those. But, please feel free to hold me accountable. Ask me how things are going, offer the advice, and the kick in the backside if necessary. So what are the goals?

My ultimate RE goals are:

• Own 10 free and clear houses within fifteen minutes of my house.
• Wholesale properties to pay off those ten houses
• Start management business with a focus on master leasing
• Believe and commit to the processes that will get me to those goals
• Be consistent and resilient.