Have you ever felt like you are stuck in a rut?
Maybe you aren’t sure if you have the wrong tools or the wrong market, but you are not seeing the results you had hoped for. In my 20+ years in the real estate field, I have learned that there are 4 things that can majorly affect how I challenge my limits and impact my results.
Here are my top 4 ways to challenge your limits:
1 – Step Outside of What You’re Familiar With
With investing in real estate, there’s this misconception that you have to invest in your own backyard because you are familiar with it. I’d challenge you to look at your thesis of how you want to invest along with the criteria of the type of investments you want to make. The truth of the matter is that the properties close to you may not even meet your criteria or reflect your thesis. The good news is that there is probably a market out there that better matches your criteria and would be a better fit for you! Texas has a way different market than California and different people may work better with different markets. This may take trial and error, but don’t be afraid to branch out and step outside your comfort zone. It may make a world of difference in the long run.
2 – Find Your Community
I grew up always feeling like an outsider in school, in the army, and with my family because of the way I thought. It wasn’t until a coworker invited me to join GoBundance, a group of entrepreneurial men, that I realized what I had been missing. My first experience with this group was a retreat that I had completely forgotten about until the last minute. I decided to go and I experienced a connection that I hadn’t experienced before. I found so many people that thought like me. For the first time in my life, I found my people. I can genuinely say this group changed my life – it has impacted every single aspect of my life. They offered accountability that has transformed how I view my goals. I do have to admit, when you have to answer to another person about whether or not you have been putting in the work to meet your goals, it gives you a little bit more motivation to meet them! Having the space to talk about my goals professionally, as well as personally, has helped me grow in every area of my life. Community is important. Find the people that will hold you accountable for your goals and be your cheerleader. You won’t regret it!
3 – Stop Creating Goals That Are Too Small
We often set goals for ourselves that may be on the same side and are easily attainable. We may stay away from edgy or potentially impossible goals because we are afraid of failure. The problem with this is that it allows us to keep our normal approach and maybe change it 10% to reach a small goal. However, when you set large, almost unattainable goals, you approach them differently than when you set smaller goals. For the large goals, your approach has to completely change and be revamped. Sometimes big goals cause a necessary paradigm shift in the systems we built. Your mindset matters!
4 – Master the Skill of Creating Systems
James Clear once said in his book, Atomic Habit, “Goals are great if you want to win once, systems are great if you want repeated success.” Systems are key in achieving success, especially in the real estate world. Systems should allow us to build something towards our goals. The key is this: once we feel like we can actually achieve the goal, remove the goal. The point should be to make systems that make our goals achievable. I completely missed this when I was 28. I had set a goal to be a millionaire by the time I was 30. I reached that goal, but let myself slow down, stop pushing, and became lazy. I didn’t have a system in place and thought I was at the finish line. Once I created a system, I nearly let it go to waste because I had achieved my goal. Don’t underestimate the power of building a system; they have many doors of opportunity. In real estate, mastering these systems can level up your game. I’ve found that it takes the same steps and work to flip a half a million dollar house and a $5 million dollar commercial building. The rewards and risks are greater, but the systems to do both are the same. Learning and creating smaller systems and growing them as you make larger deals will give you results. This mindset will change how you push your limits to execute your goals.
Want to hear more keys for challenging your limits? Listen to my podcast episode with the School of Cashflow!
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