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TODAY IS MY BIRTHDAY BUT THERE'S NOTHING TO CELEBRATE
It is official. Today is my 32nd birthday and I did not achieve my goal that I set back in January to close on an 8-20 unit apartment building.
I will not be celebrating my birthday this year. No parties. No travels. No vacations. There is nothing to celebrate.
One mind shift I made this year is nobody cares if you tried. All that matters is if you reach the goal you set. Yes or no. For me it is no. Period.
It doesn't matter that I learned the apartment investing business, made industry connections, got over my fear of making cold calls, or hired & trained my team to skip trace and make calls for me.
Pure "Mamba Mentality". Here's what I am doing to make sure to make sure I am not in the same position this time next year:
- 1. make sure my team is able to get a hold of 75-80% of leads (improve skip tracing efficiency)
- 2. if we contact 75-80% of our lads and still not get a deal I will add a submarket to our list
- 3. invest more in my team's training
4. not start any other businesses (unless I am forced to) until we close . Pure focus on one thing. - 5. Give even more focus to our weekly, monthly, and quarterly numbers to ensure we hit our goals
Lastly, I pray for god to bless me with discipline, patience, and success. God got me.I am thankful for blessing me with growth in 2020.
One thing about me is I believe in myself before anyone else does.
"I was thinking chess moves, but it was God grace" - Nipsey Hussle
Happy Birthday - I think that you should try to change your outlook slightly - there is always something to celebrate - We didn't reach all of our goals for 2020 but at the end of the day the things we accomplish and the way we approach life is what is important. If we constantly measure our happiness by what we didn't achieve we will never be happy. It was a tough year all around, a lot lot of unknown, a lot of loss, grief and stress but at the end you have to decide to be happy and move forward, tweak your approach, your goals and what you are doing so that you can better achieve things. Instead of focusing on the numbers, focus on the tasks - you will never truly be happy if you focus on the numbers. Set achievable daily, weekly, monthly and yearly task goals and make it happen.
#4 All Forums Contributor
- Plymouth, MI
The problem with your statement is you are measuring success completely wrong...which doesn't surprise me in the day and age. We have come to measure success by the final score, and completely discarding and not enjoying) the success made from the steps along the way.
Look at it this way, if (as I believe) you should never be satisfied with where you are, and should always aim to do/be better, and you also believe (which I don't, as I stated above) that success is only measured at the finish line, you will NEVER be successful. That means you will live a life that will be a failure (in your own mind)...and be completely wrong.
@Jason Malabute
First, Happy born day!
Second, I'm feeling the Nipsey quote!!!
But, my man you have to live in the moment! I personally believe your goals should be the direction you want to go in and the life/ business you see yourself doing.
Buying a certain size asset means absolutely nothing if its a asset that doesn't make any sense and doesn't generate great pure cash flow. I notice a bunch of the stories on BP where people have 30-50 units in there portfolio and they cashflow less then 2or3 of my assets and they believe they are killing it. Its all perspective. I personally prefer quality over quality and my goals are generation wealth to leave to my grand kids and great grand kids.
Happy Birthday - I think that you should try to change your outlook slightly - there is always something to celebrate - We didn't reach all of our goals for 2020 but at the end of the day the things we accomplish and the way we approach life is what is important. If we constantly measure our happiness by what we didn't achieve we will never be happy. It was a tough year all around, a lot lot of unknown, a lot of loss, grief and stress but at the end you have to decide to be happy and move forward, tweak your approach, your goals and what you are doing so that you can better achieve things. Instead of focusing on the numbers, focus on the tasks - you will never truly be happy if you focus on the numbers. Set achievable daily, weekly, monthly and yearly task goals and make it happen.
Great point. Let me change my words. I would say I am thankful, but not satisfied
Originally posted by @Joe Edwards:
@Jason Malabute
First, Happy born day!
Second, I'm feeling the Nipsey quote!!!
But, my man you have to live in the moment! I personally believe your goals should be the direction you want to go in and the life/ business you see yourself doing.
Buying a certain size asset means absolutely nothing if its a asset that doesn't make any sense and doesn't generate great pure cash flow. I notice a bunch of the stories on BP where people have 30-50 units in there portfolio and they cashflow less then 2or3 of my assets and they believe they are killing it. Its all perspective. I personally prefer quality over quality and my goals are generation wealth to leave to my grand kids and great grand kids.
I agree with you a lot of investors buy a property without considering returns. I did not include my criteria in this post (12% ROI , 15-20% IRR, 85% occupancy ETC) because I didn't want you guys to gloss over numbers
@Jason Malabute be satisfied. Being pleased with what you have done and being ok with it never getting better are two very different things. I am satisfied, but I still want to grow. I am pleased with everything I have done in my 36 years on earth. I have lost, I have failed, but I have grown with each and every failure and for that I am so content in myself. I know that I won't always reach every one of my goals but at the end of the day I try, I focus on the things I did accomplish and improve on my approach on the things I didn't. Find a way to be positive and you will find that you are more successful in what you do.
I agree with everyone that responded to you - measuring everything by a dollar amount on a deal is not success. It does not define you. Find peace and happiness today and everyday and find a way to make sure you celebrate every single day - especially your birthday.
Happy birthday! Be proud of what you accomplished but always try to do better. There's nothing wrong with acknowledging your accomplishments, even if you didn't meet your ultimate goal. I'm not saying you should be content with where you are. We should all strive to be better. But life is more about the journey than the destination. Even though you didn't meet your ultimate goal, I'm sure you achieved some other successes in your efforts. Good luck!
Very creative way to let the world know it’s your birthday. :-) Happy birthday and happy new year as well!
#3 Managing Your Property Contributor
Happy belated birthday. Catherine is right. Rather than focusing on what you didn't get done or what didn't work, look at what you did accomplish and focus on the positive. If you set high goals, you won't always reach them, that's life. We all go through periods where things don't go as expected. You get mad and move on knowing better times are ahead.
Use that time and money you would have spent on parties and vacations and use that to invest. You are the only one who can make you happy.
- Rental Property Investor
- Boston, Massachusetts (MA)
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@Jason Malabute happy birthday! A few things: 1) a year isn't that long, especially in a hot market when you are looking for very profitable deals, and especially if you are starting from scratch and emphasizing a fairly training and infrastructure heavy method, which it sure sounds like you are. 2) Spend a little time thinking about strategy vs. execution. Time spent perfecting the execution of a bad strategy is wasted 3) If you are convinced its generally sound, then start looking at the quality of your data coming in and how you can improve it.
Question for you: Are you looking to add value or buy as is? Cause if you are looking for that level of profitability thats just sitting there out in the open? I don't think you are going to find it. What kind of problems can you solve? New systems, replacing tenants,
There are a lot of apartment and commercial properties for sale. Why are you wasting time and money by hiring a team to do all those unnecessary work? I think you are on a dangerous path, misguided by somebody. Happy birthday anyway! Good luck for 2021.
Originally posted by @Jonathan R McLaughlin:
@Jason Malabute happy birthday! A few things: 1) a year isn't that long, especially in a hot market when you are looking for very profitable deals, and especially if you are starting from scratch and emphasizing a fairly training and infrastructure heavy method, which it sure sounds like you are. 2) Spend a little time thinking about strategy vs. execution. Time spent perfecting the execution of a bad strategy is wasted 3) If you are convinced its generally sound, then start looking at the quality of your data coming in and how you can improve it.
Question for you: Are you looking to add value or buy as is? Cause if you are looking for that level of profitability thats just sitting there out in the open? I don't think you are going to find it. What kind of problems can you solve? New systems, replacing tenants,
I'm definitely a value add buyer. I'm looking to turn units and increase rents, replace tenants, and improve occupancy. The only thing that would scare me would be big ticket items like foundation, replace the roof , etc
