When you attend one of my Commercial Academy LIVE Events, you will hear me talk about making a 90-Day plan. In my opinion this is the #1 most important step every aspiring investor must take as when they begin looking into Commercial Real Estate as an avenue to wealth-building.
Commercial real estate is an industry like no other: it is dynamic, it is lucrative, and anybody who has the willingness to work hard toward their goals has the capacity to create generational wealth. This is why it is critical for each and every investor to first start with a plan.
Ask yourself “Why?”
Everybody loves the idea of cashing a seven-figure check. This should absolutely be one of your career goals. But to achieve this kind of success, you need a solid roadmap. And your map will largely depend on your personal reasons for investing in commercial real estate.
Aside from the lucrative returns, ask yourself why you really want to invest in Commercial Real Estate. Is it something you can eventually picture yourself doing for 40 hours/week? Is it something you enjoy thinking and learning about? Does the competition drive you? What is it about commercial real estate that you like?
For me personally, it’s the ability to change a local community through your investments. There is nothing more rewarding than seeing a community thrive because you renovated an apartment complex or created job opportunities by building a new retail center for local businesses. When done properly, you can change the lives of real families and renew whole communities!
Being honest with yourself about these questions will help ensure that you won’t get burned out. Closing your first deal will change your life….but it sometimes takes months (or potentially over a year) to find the right opportunity for your goals. Your motivation will help you persevere to that moment when you deposit your first HUGE check into your account.
Choose a Starting Point
The next step is to set some goals. They should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound). For example, you may say, “By the time my son graduates high school, I want to own two multi-family apartment complexes.”
This is a great goal because you can reverse-engineer it into achievable steps. If you have three years to purchase two apartment complexes, then you need to average an acquisition every 18-months. At this point, you can ask yourself what needs to happen in the next nine-months to ensure that you are halfway to closing on your first deal.
Now it’s much more achievable. You now have 9 months to identify the market(s) where you want to invest, do your due diligence on the trends, figure out your financing, and start sending letters of interest.
(All these resources and much more are available at CommercialAcademy.com/software.)
Set MASSIVE goals for yourself and follow up on them. As long as you review your list at least once a week and ask someone else to hold you accountable, then you will make progress toward your goals.
Setting goals and taking action is what fills our lives with a sense of purpose and meaning. When you identify a starting point, you can start to ask yourself what you want to achieve in the next 1, 2, or 5 years.
When you have discerned your personal goals, then you can make a weekly to-do lists based on your own 90-day Action Plans.
What will you do in the next 90 days?
Picture waking up three months from today. Wouldn’t it be nice to have some of the question marks checked off your “someday/maybe” list?
Ninety days is more than enough time to research a local market, line up financing, send 10 letters of interest (you only need 1 reply to get started!), or network with potential investors.
Set a massive goal for yourself and reduce it to weekly and daily tasks. Each week make one good step toward your goals.
Do it today. Create your 90-day action plan.
If you follow these steps, you will close your first deal. It’s not a matter of “if,” it’s a matter of “when.”
Remember, “It Only Takes One Deal, One Time To Change Your Life Forever.” TM
Looking to make your next deal a reality? Network with globally connected investors actively looking to finance new deals. Join us at our next Commercial Academy LIVE Event!
Title: The 90 Day Action Plan
When you attend one of my Commercial Academy LIVE Events, you will hear me talk about making a 90-Day plan. In my opinion this is the #1 most important step every aspiring investor must take as when they begin looking into Commercial Real Estate as an avenue to wealth-building.
Commercial real estate is an industry like no other: it is dynamic, it is lucrative, and anybody who has the willingness to work hard toward their goals has the capacity to create generational wealth. This is why it is critical for each and every investor to first start with a plan.
Ask yourself “Why?”
Everybody loves the idea of cashing a seven-figure check. This should absolutely be one of your career goals. But to achieve this kind of success, you need a solid roadmap. And your map will largely depend on your personal reasons for investing in commercial real estate.
Aside from the lucrative returns, ask yourself why you really want to invest in Commercial Real Estate. Is it something you can eventually picture yourself doing for 40 hours/week? Is it something you enjoy thinking and learning about? Does the competition drive you? What is it about commercial real estate that you like?
For me personally, it’s the ability to change a local community through your investments. There is nothing more rewarding than seeing a community thrive because you renovated an apartment complex or created job opportunities by building a new retail center for local businesses. When done properly, you can change the lives of real families and renew whole communities!
Being honest with yourself about these questions will help ensure that you won’t get burned out. Closing your first deal will change your life….but it sometimes takes months (or potentially over a year) to find the right opportunity for your goals. Your motivation will help you persevere to that moment when you deposit your first HUGE check into your account.
Choose a Starting Point
The next step is to set some goals. They should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound). For example, you may say, “By the time my son graduates high school, I want to own two multi-family apartment complexes.”
This is a great goal because you can reverse-engineer it into achievable steps. If you have three years to purchase two apartment complexes, then you need to average an acquisition every 18-months. At this point, you can ask yourself what needs to happen in the next nine-months to ensure that you are halfway to closing on your first deal.
Now it’s much more achievable. You now have 9 months to identify the market(s) where you want to invest, do your due diligence on the trends, figure out your financing, and start sending letters of interest.
(All these resources and much more are available at CommercialAcademy.com/software.)
Set MASSIVE goals for yourself and follow up on them. As long as you review your list at least once a week and ask someone else to hold you accountable, then you will make progress toward your goals.
Setting goals and taking action is what fills our lives with a sense of purpose and meaning. When you identify a starting point, you can start to ask yourself what you want to achieve in the next 1, 2, or 5 years.
When you have discerned your personal goals, then you can make a weekly to-do lists based on your own 90-day Action Plans.
What will you do in the next 90 days?
Picture waking up three months from today. Wouldn’t it be nice to have some of the question marks checked off your “someday/maybe” list?
Ninety days is more than enough time to research a local market, line up financing, send 10 letters of interest (you only need 1 reply to get started!), or network with potential investors.
Set a massive goal for yourself and reduce it to weekly and daily tasks. Each week make one good step toward your goals.
Do it today. Create your 90-day action plan.
If you follow these steps, you will close your first deal. It’s not a matter of “if,” it’s a matter of “when.”
Remember, “It Only Takes One Deal, One Time To Change Your Life Forever.”
Looking to make your next deal a reality? Network with globally connected investors actively looking to finance new deals. Join us at our next Commercial Academy LIVE Event!
