New Years Resolutions for Your Real Estate Investing
Its that time of year again the time of year where we all take a moment to pinpoint an area in our lives that wed like to change. It might have to do with our weight, our job, our exercise habits, our finances, our goals, and the list goes on.
A great area to focus on (and one we highly recommend!) is your real estate investing business. There are always things that can be improved upon in any business that help to make it more efficient and productive. Here are few pointers to get you started:
Evaluate where you are now and where youd like to be as a real estate investor in 2016: If youre feeling frustrated about your current portfolio, or are facing some obstacles and challenges that you cant overcome on your own, why not get help? Theres no shame in asking for assistance to help get your business to where you want it (and deserve it) to be. Our REIA Coaches can help you accelerate your investment business farther and faster than you thought possible. Click here to check out your options for coaching. Not a REIN Member yet? You can join at anytime from anywhere. Our Memberships start as low as $99 (plus tax) per month. Click here to see the great options available to you.
Tidy up! Streamline your office by organizing that disaster of a filing cabinet. Is your computer slow? You know what they say cluttered desktop, cluttered mind. Take the time to clean up your files, both electronic and hard copy. Properly labelled files and folders mean less time wasted searching for them in the future, and more time for activities actually relevant to achieving your real estate investing goals. It will also make things a whole lot easier when it comes to tax time!
Educate yourself. Now that youve cleared out the clutter, equip yourself with the tools you need to succeed. Even the most experienced investor can always learn more. Pick up that book youve been telling yourself youll read, listen to that podcast or watch that video, or join an online discussion forum like myREINspace. If you dont know where to go for the information you need, try attending a REIN meeting. REIN holds monthly meetings in Vancouver, Calgary, Edmonton, and Toronto (check out the events calendar here). These meetings provide attendees with access to expert speakers, as well as opportunities to meet like-minded individuals.
Educate others. Spread the wealth. Talk to others about your investing, what it has done for you, and what it can do for them. Include your family and friends in your business by bringing them to a REIN meeting, gifting them with a REIN Life subscription, subscribing them to the blog, or simply taking them out to coffee and discussing your investing story. You never know where a simple conversation may take you. You may find your next JV partner or someone looking to do a rent-to-own. Never underestimate the power of networking.
Starting setting up your legacy: Do you spend your time worrying that your kids wont know how to handle their finances? Do you want them to have the tools to become successful real estate investors? Perhaps they could benefit from the same education youre receiving (but in a kid friendly form!). REIN is proud to be hosting two all day workshops on Real Estate Investing for All Generations in 2016: January 16th in Edmonton and January 23rd in Toronto. These workshops will empower your family with critical financial life skills. If you are confident in your familys abilities, you can spend less time worrying and more time achieving your real estate investing goals.
Network. Reach out to the community. There is a vast network of experienced people who are real estate investors, lawyers, mortgage brokers, realtors, etc. If you truly want to improve your real estate investing portfolio, draw on the experiences of others. Reach out and talk to them whether at a REIN event, a discussion forum, or in the general public. Its important to have a solid network of people behind you to push you forward on your journey. If youre ever in need of a service provider referral please reach out to us for a recommendation. Weve got a great list of trusted providers at our disposal!
Stop and smell the roses. Enjoy life. Take a break. Go for a walk. Have a nap. Do something YOU enjoy. It may sound counter-productive, but proper rest and relaxation makes you a more ready, capable, and focused individual when you are on the job.
Do you have any other tips to add? Wed love to hear them. Please share in the comments below.
Happy New Year and good luck!
{{cta(‘d1c08f98-196d-4a41-ad53-4e55f81797f6’)}}
All Access
