Clarity leads to power, and power leads to the ability to decide and act. Without the ability to decide and act, you never move forward in your life as anything, much less as a real estate investor. Therefore, it’s super important to have clarity on who you are as an investor.
When it comes to Real Estate Investing, the first thing that you should get clarity on is “Who do you want to serve?”. This all important question will allow you to make decisions on where to buy, should you buy in the first place, is it a good deal, how should you rehab it, how should you furnish it, who should you sell to, who should you buy from etc etc etc.
One important thing to note is that it’s far more important to focus on doing good and feeling good than on what is going to bring you the most money. When you do good and feel good, you naturally are happier, which is first of all more important than money, but secondly is much more likely to bring you money when you’re happy to do what you’re doing.
Know why you would buy something, and just as importantly, why you wouldn’t buy it. This will give you the permission to say no to something, even if the numbers seem to say it’s a good deal. On the flip side, all this is true for when you sell.
Asking questions of yourself is the way to create clarity. Once you’ve decided who you want to serve, ask even more detailed questions such as “What kind of magazine does your customer read? How old are they? How many kids do they have? What’s their income? What kind of coffee do they like? Where are they from?” Be as crazy detailed as possible.
Once you’ve asked the questions are are clear on who you’re going to serve, you’ll have a better picture of who you will be as an investor. From this you can start to look at other people who fit that description, figure out what they do, and then schedule yourself to start to do those same things. It’s important to understand that just because you’re busy and are always doing things, doesn’t mean you’re being productive. You’re required to do the right things in order to be successful.
It’s a great idea to come up with an audio business card. Here’s the formula:
I <action verb><target market><benefit> so they can <benefit>/ You don’t happen to know anyone who’d like that, do you?
This will allow you to tell the world who you are, and you’d be surprised what happens when you tell enough people!