“Everything depends upon execution; having just a vision is no solution.” — Stephen Sondheim
One of the things that I have been recommending to investors for a long time is that they need to set goals and visualize the accomplishment of those goals. For many this is basic ‘101’ of getting what you want.
However, there is a huge point that I do NOT want anyone to miss.
There is a school of thought that ALL you have to do is think thoughts and things will magically appear. So, in a recent book that has made a ton of press, “The Secret,” many of the contributors talk about ALL you have to do is think about what you want all the time and it will come to you.
The Law of Attraction.
I am here to tell you that all of the contributors are absolutely WRONG!! Wrong to the point of causing your goal achievement some delay. Why?
First, you don’t just wish for a new Mercedes 560 to be in your driveway and then it just appears. Just because you want something and think about it you will NOT get it. You will grow old and your bones will still be sitting on your couch while you think and wait for that car…
If you set this as a goal AND IMPLEMENT A PLAN OF ACTION AND FOLLOW THIS PLAN OF ACTION TO OBTAIN THE CAR then it is more likely you will get it. By the way, the plan of action should include a way you will get the money for the car. So, make sure you understand that it is NOT JUST THINKING the right thoughts it is thoughts followed by inspired action that get you what you want.
The same goes for your apartment and commercial real estate investments. If you want to acquire 24-unit apartment building or a 6-unit strip mall in the coming months, you have to focus on this goal, and then back it up with action. The formula to get started is simple, and can be followed by anyone – whether you’re a ditch digger or a brain surgeon:
1. Write down your Top 5 apartment and commercial real estate investing goals for this year.
2. Order these from top priority to least priority.
3. Remove the bottom 3 from the list.
4. For each of your Top 2 goals, take a clean sheet of paper, and write down the action steps you need to take to achieve each goal.
5. Bring those action steps into your schedule, or “to do list”.
6. Get started, and take action.
7. Continue moving forward, in spite of obstacles, set-backs, and delays.
Each of these steps is crucial to apartment and commercial real estate success. It is not simply a matter of focus and thought, but real-life action that backs up that thought.
I am an ex-prison guard, and I am here to tell you, when I started, I had no formal training, no rich uncle, and no real advantage other than a burning desire to create wealth for me and my family. If I can do it, so can you. There is no doubt in my mind as long as you’re willing to do what it takes.
The formula is simple, and there is no better time to get started than right now. So take out a sheet of paper, lock the door, and get started on your own road to commercial real estate success!