Everyone has goals to achieve. For me, life isn’t complete without goals. You just can’t build yourself for the better without knowing where to go. This is what goals are made for: providing our lives direction and giving us path where we can move forward.
However, there will always be challenges that keep us from reaching our goals. After all, the road to success is paved with trials that are difficult to overcome. In the face of these odds, you can either face them head on, or do a complete 180-degree turn and run away.
For many people, running away from challenges is far easier than risk fighting battles. Fear can be one factor that prevents us from reaching our goals. For me, however, fear is just one way of denying our own capacity for success. Everyone has a potential to be great, whether in multifamily syndication or in life in general.
One thing’s for sure, I couldn’t have succeeded in the field of multifamily investing if it weren’t for my failures. Even though I with my accomplished teams closed 26 syndications in just a few years, I will have to admit that it wasn’t easy. Twelve years back, being new to the multifamily sector, I was not sure how best to approach it. I didn’t have a solid investor base to start with. Financing my first acquisition was an impossibility since I started out during the 2008 financial crisis. And don’t get me started with managing our portfolio of multifamily assets! I had to find ways to make tenants happy and apply repairs and renovations that will increase the value of these properties.
Nonetheless, I was able to hurdle all of these challenges and build a multifamily investment portfolio that yields high returns for my investors. This is because I have stayed committed to my goals and made sure to focus on them no matter how difficult the challenges could be.
Anything’s possible if you stay true to yourself as well as to your goals. If you think you find yourself at a dead end, don’t let hope dwindle. Use these action steps to be committed to your goals.
List them down
You will need to constantly remind yourself that there’s a reason why you are investing in real estate right now. Whether it’s securing wealth or building a great future for your family, these visions should motivate you to work harder. Writing them down on your journal or printing them out will help you maintain your drive, giving you a more compelling reason to accomplish your goals whatever it takes.
Change your mindset
One way to deal with a supposedly impossible challenge is to make adjustments. If you are a general of an army, you will need to modify your strategy if the tides have turned against you. With that said, never settle for a mindset that’s static. Successful people will always look for new formulas and solutions to a problem. They don’t stick to something that has worked before. Instead, they analyze a challenge and reconfigure their mindsets to better address it. You should too if you want to fix issues and problems in the most effective way.
Appreciate the little things
If the challenge is too great, you can always find time to rest and do something you love. Whether it’s going out to watch a movie with the family or going on an early morning jog around the neighborhood, you will need to find some time to recollect and reflect. You will become all the more miserable if you keep on worrying, so learn to appreciate the little things and revisit the very things that bring you joy.
Leave the past behind
Never focus on the things behind you. Instead, learn to appreciate the time you have right now and use it in the most productive ways. You cannot retrieve what has happened in the past, although you can learn from it. You can use these lessons as tools that are valuable towards building your future.
Get a mentor
No man is an island, and this is also true in real estate investing. You get to meet a lot of people along the way and, no doubt, these people will be instrumental to your future successes. So, whenever you need help trying to make sense out of the multifamily sector, for instance, you can get a personal coach who will motivate you and make sure that you stay committed to your goals.