Many of us have real estate dreams. Perhaps you want to become a homeowner, or move to a bigger apartment. Maybe you’d love to upgrade to a better school district, or purchase an investment house.
Big dreams require big action.
However, the formula is simple. Deceptively, annoyingly simple.
- Decide on ONE game changing goal.
- Make a plan, and work your plan. Adjust as necessary.
- Do NOT quit until the goal is achieved.
That’s it. This formula is incredibly difficult to follow, but amazingly simple at its core. Let’s dig in to each of these steps further.
1. Decide on ONE game changing goal.
First, you must decide what you want. Most people never do.
Oh sure, they may have small goals, such as getting a bigger TV or a new pair of shoes. But real estate goals aren’t small. They are life changing. And remember, big dreams require big action.
So first, set your chief aim. What do you want to accomplish? Why do you want it? How important is it? Don’t shoot for something easy, just because it seems attainable. Choose a goal that will truly improve your life.
Secondly, narrow this to ONE current goal. If you’re trying to accomplish 5 big dreams at once, your efforts will be scattered and unfocused. Knock down your most important goal first, and then move on to the next one.
Example: Jane would love to take a two week vacation to France, buy a nicer car, and purchase a small house on a lake near Grand Rapids (her first home). All of these goals seem “unrealistic” by her current standards, and would take a monumental effort to achieve.
After carefully considering their overall importance and impact on her life, Jane decides she will throw all of her effort into purchasing the lake home. She has wanted to live on a lake for 20 years, and is willing to do what it takes to get there.
2. Make a plan, and work your plan. Adjust as necessary.
There are many paths up a mountain. Similarly, there are many ways to achieve your goal.
Sit down, and draw up a road map. Figure out what your next step should be, and do it. Don’t worry if each part of the process isn’t perfectly defined. Taking action is more important than having a flawless plan.
Take one step, and then another. Be consistent, and keep moving in the same direction. Along the way, you will probably figure out that you need to adjust your strategies – that’s OK! You will figure it out as you go.
This plan will require sacrifice on your part. You may have to give up free time, change your spending, or make other shifts to your lifestyle. This is why it is so important to pick a life-improving goal… it helps you push through the tough stuff.
Example: Jane realizes that she needs to save money for her down payment and her ‘cushion’ for unexpected home expenses. So, her first step is to make a budget. Her next step is to reduce her expenses. She downgrades her TV plan, starts brewing coffee (instead of stopping at Starbucks), and sets up automatic deposits to her brand new savings account.
Once she’s made some smart budget cuts, she decides she wants to speed up the process. She takes a part time job for a few hours a week, and has her check deposit directly into her savings. After a few months, her bank account is looking much healthier!
3. Do NOT quit until the goal is achieved.
Big dreams are hard to achieve. Progress is slow, and often barely noticeable.
You will have many, many distractions along the way. Your life will change, and new opportunities will present themselves. You will meet unexpected hurdles, and face challenges that knock you on your butt.
Push through it.
Many people are their own worst critics. Fear, doubt, and uncertainty are very difficult to deal with. Sacrifice (without immediate results) can be frustrating. In the stressful moments, try to remember why your goal is important, and look back at the progress you have made. If you can push through these tough times, you will achieve your goal.
Example: After working toward her goal for six months, Jane gets hit with a massive car repair bill. She gets the familiar itch for the nicer, newer car, and feels the pain of a big financial setback. In this moment, all of her effort feels pointless – why work so hard (and sacrifice so much) when life seems determined to push her back into the mud?
This is a decisive moment.
Will she stick to her lake house goal? Will she do what is necessary to find reliable transportation, but stay committed to her chief aim? Or will she put what is left of her savings account into purchasing the nicer car?
Jane’s decision isn’t easy – very strong arguments can be made on both sides. And while her story is fictional, her stresses and struggles happen every day. You will face many hard choices on the road to your goals. Your decisions in these difficult moments will determine whether or not you succeed.
We write our own stories through our actions. So make it happen. Make a decision, work your plan, and stay committed. You can do it!