You want to get into multifamily investing, and you dream of enough passive income to replace your J.O.B. so that you can retire early. But the thought of it all overwhelms you.
You want to get into wholesaling single family houses to get started with real estate investing, but the sheer number of things that will need to happen to become a successful wholesaler intimidates you.
You want to lose 20 pounds, but the idea of completing P90X in the next 90 days seems impossible to you.
You want to save your marriage, but you feel like it’s too late. The probability of turning it around is too remote. The situation is too complicated. It would never work.
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
Why Are Worthwhile Goals So Incredibly Difficult to Achieve?
When we think about any big hairy goal we have for ourselves, we feel overwhelmed and then immediately stop pursuing it. That’s why many of us who have dreams never get out of the gate — because we’re paralyzed by the enormity of it all.
Wouldn’t it be great if there were a solution?
There might be. It’s worked for me, and it will work for you, too.
The solution is to do the next three best things.
No more, no less.
What are the next three things you need to do to get you one step closer to your goal? Do them. This might take you a day or a week. When you’re done with your list of three things, determine the next three things you need to do, then do them, too.
Don’t worry about the 106 other things that you need to do. Just concern yourself with three.
Let’s say you do this for three months. Then you look up to see what you’ve accomplished, and you are absolutely amazed at how far you’ve come.
Why Does This Technique Work So Well?
It works well because the next three things (1) bring you closer to your goal, but also (2) don’t overwhelm you.
Let’s say your goal is to purchase a 75-unit apartment building with a group of investors, and you hope to get $2,500 per month of income from this, about half of what you need to replace the income from your job.
But you don’t have any prior experience; you only have a little of your own money and no investors.
Should you not even bother? Or should you do the next three things?
What are the next three things you should do? Well, let’s see. You should probably educate yourself. So go on Amazon and Google and search for apartment building investing resources. Buy some. Consume them.
Three weeks go by and you read two books and complete one course. What’s next?
Your course tells you to start looking for deals and to start raising money. OK, so you go to LoopNet and request and analyze three marketing packages.
Once that’s done, you put together your sample deal package (read more about this in the article, “The # 1 Secret to Raising Money to Invest in Apartment Buildings“), and meet with three potential investors.
Now you repeat this cycle three times.
You still have your full time job, so you can only do this in your spare time. But after three months you’ve completed a course, read two books, analyzed 9 deals and met with 9 investors, of which 2 committed $50,000 each if you find them a good deal.
WOW! Isn’t that amazing?
Do you still have a long way to find and close your first deal? Sure, but don’t think about that; it’ll just overwhelm you.
Just keep doing the next best three things and you can achieve anything in life.
What are the next three things you need to do?
Share below so we can keep you accountable!