In this special episode of Get Real Wealthy, Quentin talks about how you can achieve your real estate goals faster.
Quentin says that when we’re talking about goal setting, you really want to have a long-term vision, and then a shorter-term vision, and be able to achieve that weekly, whether you take a 10-year view out or 20-year view out, you want to have that big picture. So that you continue to work on that, and then you want to break it down into smaller goals. He adds “I am going to focus on your real estate portfolio. But you can do the same thing to any goals that you have.” He says that the first thing that you need is to have a “vision”, and what are you going to do when you get there. You need that big “why” of doing it and when that difference is big enough, then you will be able to achieve that goal. Quentin shares that his own journey in real estate became successful because of goal setting and goal achieving.
When it comes to setting long-term goals, he suggests choosing goals across various categories like business, health and fitness, financial, relationship, lifestyle, personal growth and development, contributions, etc. Then, you should have near-future goals, like what type of real estate investor do you want to be? You have to decide for yourself what that looks like, and then you have to be able to measure it. He also says that the trick is, whatever you spend the most time in, you are going to feel more successful doing it. Your mindset affects your behavior, and then you will be able to do something that you didn’t think you were able to, he adds “whatever you focus on, grows.”
Quentin shares that by using the template from Action Taker’s Real Estate Investing Planner, you can set up quarterly goals like him. The other thing that you should be doing is a quarterly challenge, something that takes you out of your comfort zone. If you want to achieve your goals, you got to challenge yourself. You also have to delegate to other people, what you cannot do yourself. Real estate is a multiple-person game, you need other people on your team to be able to help you. For personal deployment, what are those centers of influence, who specifically is going to help you to get your goal? Lastly, what’s your real estate strategy, your focus, and then identify what freedoms you have achieved. This is how you will be able to purposefully achieve your goals.
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Action Taker's Real Estate Investing Planner, The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords, The Filling Vacancies Toolbox: A Step-By-Step Guide for Ontario Real Estate Investors and Landlords for Renting Out Residential Real Estate, and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.