4 Fundamental Choices That Helped Me 10x My Real Estate Investing This Year

Last year (2015) was a pretty slow year for real estate investing for me.

flipped a house and bought a primary residence for myself, but other than that, I was so busy with a hundred other things — like managing the properties I already own, taking a road trip around the entire USA, and writing The Book on Rental Property Investing — that buying new properties got pushed to the back.

However, this year I decided things were going to be different.

So this year I’ve already purchased seven units, flipped two houses, I have four more units under contract to close soon, and we’re just nine months through the year!

Best of all, these properties will add around $150,000 to my net worth and over $2,000 a month to my passive income.

So how did I 10x my results this year compared to last?

Well, today I want to share with you the four fundamental choices I made in my life that helped me 10x my real estate investing this year.

4 Fundamental Choices That Helped Me 10x My Real Estate Investing This Year

1. Set a Big Goal

On January 1st of this year, my wife and I sat down at one of our favorite restaurants for our annual review of our goals. Over gourmet burgers and fries, we discussed how we did on our previous year’s goals and what we wanted to get out of the coming year.

And one of the specific goals we made was to buy a dozen units this year.

Why 12?

Well, I knew 12 would be a stretch goal, especially with the 40+ hours I was spending working on content for BiggerPockets, our first baby due in a few months, and the upheaval that would cause.

But I also saw 12 as something I could achieve if I put my heart into it.

But goal setting is fairly worthless if you don’t also plan a strategy for how you are going to get to that goal. It’s great that you want to become a millionaire, win a Grammy, go to the moon — but do you have a plan to achieve it? So our conversation on that New Year’s day led us toward another fundamental change that helped me 10x my goals this year:

wholesaling-tools

2. Get Help

So, as you know, I wanted to buy a dozen units this year, but I also knew this year would likely be the most crazy year of my life so far.

Related: There is a Major Problem With Your Goals

So I knew I needed help.

After putting out a call on Facebook for an assistant, I found Tracey.

While Tracey helps me with a variety of tasks in my life, primarily she is my acquisitions manager. In other words, I placed her in charge of finding real estate deals for me.

Tracey came on board in February, and within seven days — with no prior real estate experience — she had our first property under contract.

How?

(Continue reading on BiggerPockets…)

P.S. looking for hard money loans in California? Be sure to check out my friends over at northcoastfinancialinc.com. They have very competitive rates, can fund within a week and specialize in fix and flip loans and other hard money loans.

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