As 2012 fades into the history books and 2013 rises on the horizon of your life, it’s a great time to take a step back from the day to day hustle to think about the future you’re busy building.
Just like a sports team finishing one season and preparing for the next, it’s important to take a look back and see what worked and what didn’t, then assess where you are today and apply the lessons from the past to chart your course for the future.
Sound hard? Maybe. But it’s not mysterious and it’s certainly worth it! After all, what successful business or sports team do you know that just wanders out into the future with no plan?
In studio to ring in the New Year:
- Your ageless host, the Dick Clark of real estate radio, Robert Helms
- Your happy hapless co-host, Russell Gray
- The father time of real estate investing, The Godfather Bob Helms
The big picture of real estate investing and business is planning is being clear on what you want the enterprise to do FOR YOU. This is important to make sure the business serves you and not vice versa. So from the beginning of your planning project, take time to ask yourself what you REALLY want – in terms of lifestyle, finances, stress, etc.
Once you have your “dream” scenario in your mind, you need to take a look at the realities of your situation. What you have to work with play a very important role in the strategies you use to build your portfolio. People with great credit and documentable income have different options than those with poor credit who are self-employed. Both can find success, but the paths are different.
On the same note, there are external realities which have to be taken into account. You have no direct control over interest rates, availability of inventory, rental demand and overall economic factors. Sure, you can look for optimal geographic markets and certainly some are better than others. But the point is that external circumstances will open and close doors and require adjustments in your planning.
Navigating all of these variables is the art of planning. It’s part science and a lot of creativity. That’s what makes it so fun!
So as you look at the blank canvas of a New Year and consider what you want to build for your future, embrace the challenge of planning. And you can start right here and now with this episode of The Real Estate Guys™ radio show!
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