Go For The Goal!

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By Andrea “Andy” Tolbert

Goals are important because they give us something to aim for. They also give us a way to measure our progress. To be effective, your goals must be guided by something that really inspires you. If you have a vision of what your life will look like after you achieve your goals, you will be better prepared to overcome the setbacks and challenges that you will run into.

These guidelines are intended to get you started on the road to success. Many studies have shown that the majority of very successful people have set goals and refer back to them often. Good Luck!

1. The difference between a “wish” and a “goal” is that goals are written down.

2. You are more likely to achieve your goals if you write them down, constantly update them, and refer back to them often (daily, weekly, monthly?)

3. Goals must be S-M-A-R-T

• Specific - How many, when, how, profit per deal, etc.
• Measurable - Instead of “Make more Money” go for “I will net $50k on 5 houses in the next 12 months.”
• A Challenge - If you did 5 houses last year, set your goal for 8 this year, not 4. You must try to stretch a little out of your comfort zone.
• Realistic - If you have never sold a house before, 50 in your first year is not very probable.
• Trackable - You must have a way to tell if you’ve succeeded in reaching your goals.

An example of a well-written goal would be: I will buy 12 single-family houses in the year 2007. I will rehab and retail 9 of them for a minimum of $15K net profit each, and I will keep 3 as rentals with a net cash flow of $150 each, minimum.

4. Make your goals your own, not your parents’, spouse’s, or peers’.

5. Do not compare your goals to somebody else’s; we are all working toward different ends.

6. Break each of your goals into easy to handle chunks. What is the first thing I must do to get started on this goal? What is the second? Third? and so on. By breaking it down into small, easy steps, you won’t feel overwhelmed and give up in frustration. Remember, The easiest way to eat an elephant is one bite at a time!

7. Keep in mind, goals are not only more or better material items. Your goal may be to learn to enjoy what or who you already have.

8. Do not share your goals with everyone you know. People who don’t understand your business will try to discourage you. Network with like-minded people and you will all accomplish more.
Homework Assignment: Sit down in a private place and try to write at least one well-worded goal in each of the following areas:

1. Health
2. Personal Relationships
3. Family Relationships
4. Spirituality
5. Career
6. Salary/Earnings
7. Education
8. Financial Assets
9. Home
10. Travel
11. Hobbies
12. Stress Management

Remember…opportunities are never lost…somebody will take the ones you don’t!

Andrea “Andy” Tolbert has been actively investing in the crazy Florida market for over eight years. Her passion is teaching other investors some of the secrets she’s learned in both her investing and her other life as a mortgage broker. She can be contacted at Andy@AndyTolbert.com or 407-328-0970. © 2003 rei123.com