I not only get asked but also have many meetings with Investors – both Beginning and Experienced Investors. Often I get asked what are the top three mistakes that Investors make. I can unequivocally answer without hesitation with the following:
- NEVER do all of the work yourself-DELEGATE, HIRE an assistant. GET your Team in place
- Make a plan and goals these are different. Finish each task. Don’t overthink or second guess yourself!
- Never stop marketing for Properties-yes the Investor needs to stay in the game and always be on the lookout for Properties.
I have put the Investor’s Real Estate Team in place for over twenty years. I continue to refine and make this better all of the time.
When we speak about Goals and Plans – take time on this. Someone once told me, “How often do you do a Business Plan-once a year? So one time to make and correct mistakes? How about if you do a Business Plan 12 times a year or 52 times a year. How about 364 times a year?” This was a Kodak moment for me. I set my goals once a year, typically over the Holidays. I set both yearly and 5 year goals. Then I develop a 12 month action plan and refine this down on the third week of the month for the next month. EVERY day my first item on my agenda is to set my daily tasks and goals. I use an easy to use task program and my calendar. While always in the back of my mind is my monthly agenda-GUESS what I HIT my goals and have for a VERY long time. I can change my path if I need to because GUESS what-LIFE HAPPENS!
Lastly, I am a deal junkie and look fr deals all of the time! GET IN THE GAME AND OFF OF THE BENCH!!!