Do you find yourself getting distracted by new business opportunities? Are you losing focus around your ultimate goal of attaining passive income and legacy wealth through buy and hold real estate? I recognize that struggle, as I too, have suffered from shiny object syndrome.
In my role at Morris Invest, I speak with a lot of investors about their goals. Many investors, particularly those who are early in their real estate journey are understandably excited. They are propelled by their success in obtaining their first property.
However, if that excitement is not correctly guided, it’s easy to become misdirected. If you begin considering a multitude of different strategies going forward, you’ll delay your progress. Don’t get me wrong, I am all for having goals!
But what is really powerful is to deliberately focus that inspiration. When I first began in real estate, I was laser focused on wholesaling. I quickly became frustrated, and started considering other options within the world of real estate.
My mentor assured me that by changing directions, I would only lose all the progress I had made. When you redirect your energies, you have to begin in a totally new direction. I want you to remember that if you feel swayed by a shiny object, it’s going to be ten times harder than you expect.
As you may know, I’m a huge proponent of writing down your goals. Here’s what I do when I’m enticed by a new opportunity that is out of line with my ultimate goal of creating legacy wealth through buy and hold real estate. I write it down and put it in my “someday maybe” folder. I revisit the idea a few weeks later, and typically I’m no longer excited about it.
Are you ready to set a clear, actionable goal? Download our Freedom Cheat Sheet! It’s a free PDF designed to help you determine how many rental properties you’ll need for your unique situation.