Ep. #41 - 2020 Vision

Happy New Year! This is the first [... and Landlord!] Podcast episode of the year! And I've got 20/20 Vision... And that's not ONLY because I had a form of Lasek Eye Surgery (called PRK) years ago. I'm looking into the future as to what goals I'm setting and achievements I'm targeting for 2020... How about you and yours? Spending a little time goal setting is NOT a waste of time. And what better time to do this than the start of both a new year AND a new decade!?

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Intro...

Welcome to Episode #41 - 2020 Vision

It's 2020! So what's your 2020 Vision? What do you have set for this year as to the goals you're setting and achievements you're targeting?

It's hard to accomplish something by accident, so if you set no goals and put no plan in place towards an achievement - then you're likely to be yelling "Happy New Year" for 2021, with nothing significant to show for 2020. So now's the time to put something in place for 2020 that you can be proud of having achieved by the end of the year.

And beyond that - you'll find no better time than the start of a new decade, than to set some goals and put plans into place for what you'll seek to achieve over the next 3, 5 and 10 years. So not just what will you accomplish here in 2020 - but what will life look like for you in 2023, 2025 and 10 years from now in 2030?

You need only to look over the things that changed in the world from 2010 to 2020 to know that it will be a greatly different world (yet again) by 2030. How will things look for you by then? So let's set some goals... Let's make some plans!

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“People tend to overestimate what can be done in one year and to underestimate what can be done in five or ten years."

This quote (of disputed origin) speaks to the problem for many with goal setting and making plans. Don't overestimate what you can do in 2020... Don't set your goals for 2020 (your short-term goals) at such a high level that they're completely out of sight and unrealistic as to what you can reasonably accomplish in 1 year. But at the same time, when you're looking out to 2023, 2025, 2030... Don't underestimate what you can get done in 3, 5 or 10 years.

For myself - I've mentioned in prior episodes that I started my Rental Real Estate Investing journey back in 2015 - and my goal for that year was to buy two Rental Properties. I did that!

Might you be able to set a goal for yourself to buy 1 or 2 Rental Properties this year? Or maybe you have the means to buy 3 or 4 this year (1 per quarter). But maybe you wouldn't want to set a goal to buy 12 properties this year - as a property a month might be a bit unrealistic for the average person. Don't set yourself up for failure.

You see... If you know that you can buy 1 property, then set your goal for 2020 at 2 or 3. Stretch yourself a bit, but keep it reasonable - keep it within the realm of possibility. Then if you miss it, it won't be by much - and you can adjust and move forward in the next year. I hit my goals for 2015, 2016, and 2017.

For 2015, I wanted to buy 2 properties. Did it! For 2016 I wanted to double that number - so just 2 more (easy). Did it! I stretched it a bit for 2017 to double my current number of 4 units, so I had to get 4 more in 2017 for a total of 8. Did it! And for 2018 - I again wanted to double my number of units from the prior years, going from 8 to 16. But I missed it by 1, ending 2018 with 15 rental units.

But hey - no problem... I missed it actually because I stopped following my plan. I began to switch my focus to trying to acquire larger deals. When I could have been trying to acquire that 16th single family house (which I've since gotten) - Instead, I was bidding at auctions on larger deals, like a 38 unit apartment complex in Thomasville (NC) that went for something like $1.6M.

I didn't get any of the larger deals in 2019 (always outbid), but I learned a lot on that front - that I'm certain will allow me to take down one of those big deals soon. And when I get that first large deal - I may have to re-adjust my goals and plans for where I'm seeking to be by 2023, 2025 and way out to 2030. Health and God willing - as far as it depends upon ME, I'm going to LOVE the coming years and this next decade. Everything is set... My goals are ambitious - but not unrealistic and certainly within my grasp.

So how about you? As the quote says...

“People tend to overestimate what can be done in one year and to underestimate what can be done in five or ten years."

So not only will you be setting realistic goals and putting a workable plan in place for your 2020 Vision. But you'll also extend that Vision out a few years to 2023, and a couple more to 2025, and then your Grand Vision for the entire decade out to 2030. By 2030 will you be the next Donald Trump? Oh, never-mind - He's no longer an effective example of a successful Real Estate Investor (too much political baggage) - forget I mentioned him.

But you know what I mean - will you control the world by 2030. Hey, I try not to put ceilings on what I can do - no limits. But my 2020 Vision is Great and my 2030 Vision is Grand. I'm not ready to talk about it just yet - but 2020 will see my realization of at least one of my life long dreams!

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So for YOU - do you have rental properties already - and you're seeking to get more? Or are you trying to get your first? Either way, I've made the offer before and had the pleasure of speaking with several people, so I'll say again - reach out to me! I'd love to have a brief conversation with anyone for whom I may be of aid. Visit: andlandlord.com/contact/ - and either submit the contact form on that page; send an email to the address on that page (info@bluechariot.com); or call the number on that page: 844-USA-BLUE - and leave a message.

Either way, we'll schedule a 30 minute call for a mutually beneficial time - and discuss how we can get your Rental Real Estate Investing goals accomplished. And even if I don't know the answer or have any insight into your particular challenge or concern - maybe I can direct you to someone who may; or to a helpful resource on the matter.

So what's your 2020 Vision? Let's set some goals together. Some quotes on the matter...

“If you want to be happy, set a goal that commands your thoughts, liberates your energy and inspires your hopes.” —Andrew Carnegie

Another...

“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” — Pablo Picasso

So I assume these are the people to whom these quotes are properly attributed; however, even if not - they speak well to the why we need to set goals and make plans. So if you've not already, get in contact with me - and set your 2020 Vision.

Outro...

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