Any serious investor sets real estate investor goals on a regular basis here's my take on setting these real estate goals.
Usreeb effective goals are the key to being successful in the real estate business. Without goals, it's like you are that hamster on the wheel or a ship without a rudder. Let's face it. If you are planning a long car trip, you wouldn't do it without either bringing a GPS with you or plotting your trip on a map.
As far as business goals are, only you can tell yourself how to set your goals.Here is how I set up my own goals. I set my business goals in two different ways. Income, (how much money I want coming in on a weekly, monthly, and yearly basis), and deals (how many deals I do). I look at my results in two different ways. usreeb look at how many deals, and the average dollar amount per deal.
As far as personal goals, they can be relationship goals, family goals. Maybe you want to spend more time with your kids. Maybe you want to lose some weight. Whatever it might be, there are both personal and business goals to contend with.
To make a goal effective, it really needs to be written down. There was a study done at The Harvard School of business that was started some time ago. They had three groups: a group that had no real goals, a group that had goals, and a group that had goals and wrote them down. The group that had goals, made 2 to 3 times more money per year than the group that had no specific goals.
Goals have to be measurable. You have to be able to measure exactly where you are in conjunction with your goals. As you are tracking your goals, you need to be able to see exactly where you are. Goals also have to be believable. It's one thing to say, "I want to do 10 deals a month". If you've only done 2 deals in the last 12 months, saying you are going to do 10 deals a month might not be doable. You might fall behind and then not be able to believe that you will ever meet those goals.
Also, remember that you can't make your goals so easy that there is no challenge either. They have to be enough of a challenge that you have to work hard to get them, plus something that you believe. But, if they are too hard, you are going to lose faith that you can hit them and it will take the wind out of your sails. So, make sure they are believable and that you are going to stretch to reach them.
