So do you want to be a successful real estate investor? You need to set your goals online. To maximize your chances of achieving your goals, you need to set SMART goals. Currently, this is not Webster’s smart definition, but SMART as a specific, measurable, achievable, realistic and timely acronym. I want you to write these five words on a piece of paper. Because you need to evaluate all your goals to make sure they meet smart criteria. Let’s first look at the smart S. This specifically means. Your goals are accurate and you should say exactly what you want to do. Being specific allows you to effectively apply your efforts and clearly define what you are trying to do. The details of your goal are what, why, and how to do it. Ask yourself this question, what are you going to do? Answer this question with action words such as learning, buying, and creating. Why you want to reach this goal, why you want to reach it now, not later, and ultimately how. How do you do it? You need to make sure that each goal you set is specific. Instead of setting vague goals such as owning two rental properties or wanting to invest in real estate, set specific goals. Find out how you can focus your plans more specifically.
Now that M is smart, it means it’s measurable. Goals that are too big are difficult to manage and cannot be easily achieved if they cannot be achieved. The measurable aspect of goal setting focuses primarily on short-term goals, and once built, larger long-term goals can be achieved. For example, consider the previous specific goal of owning two rental properties. Each rental property will be cashed at $ 250 per month after deducting all costs. To achieve this goal, you need to set more measurable short-term goals such as financing, property search, and property refurbishment when needed. You may also need to analyze your rental property to understand your cash flow. See how our goals were concrete. However, more and more specific short-term goals are needed to increase the likelihood of achieving those goals. Visit:- egl.vn
The last item I would like to mention about measurable goals is that we need instructions to measure them. Create specific criteria for measuring progress. Not only does this get you on track, but it’s exciting to know that you’re one step closer to your overall goal as you reach these short-term goals. A smart A now means achievable. If your goals are too big or out of reach, we don’t promise to reach them. For example, achieving the goal of buying 100 rentals in the next 12 months or generating $ 250,000 in rental income in the next 12 months is unattainable for most of us. By setting such goals, you can only get excited and ready to achieve them, but your subconscious mind is soon too much to achieve this goal, and you are your goal. Immediately reminds us to focus more and more on achieving. Stop trying at all. Goals should be hard enough to reach them, but not so hard that you don’t have the opportunity to reach them. When you reach your goal, it’s exciting and exciting to achieve: This is the attitude you should have, not the list of goals you missed. Gaining momentum with achievable goals is a surefire way to reach more difficult goals in the long run.
The penultimate letter R represents reality. Being realistic means that it is not easy, but it is achievable. If your name has $ 500 and your goal is to buy 30 properties next week, that’s probably not a very realistic goal. This goal may be achieved, but is it unrealistic rather than realistic? Set goals that require effort, but if that’s too difficult, just set room for failure. Setting goals that are too simple, on the other hand, simply indicates lack of self-confidence and inability. Set the beam high so that it is a result. Finally, we arrived at T, which represents punctuality. This is clear. When you set a goal, you need to set an end point or a target date. Next week, next month, two days from now, but in any case, you need a time frame related to your goals. If you do not set a time frame, you do not promise to reach your goals. Without a time frame, it’s not urgent to take action now.