Setting My SuperSix - Charting My Real Estate Action Plan

Alright, if you've been following along with my previous blog posts (first one here, second one here) then you've read about how I've crafted a vision and set a 1 year goal.  Now it's time to take ACTION!

But before I haphazardly take any action that may or may not move me towards achieving my one year goal, I need to determine my SuperSix.

For those who aren't familiar, I learned this method from Brandon Turner in his Clarity video series.  Essentially, you brainstorm all of the things that you need to do to accomplish your 1 year goal.  As a reminder, here's what I set as my goal: 

Replace my salary income by generating at least $4000/month in profit by wholesaling properties in Las Vegas.

So in order to take down this goal, the list of possible tasks is immense.  Here's a few things I came up with in no particular order:

Attend a REIA meeting, find private capital, search craigslist for deals, drive for dollars, make a website, create a buyers list, design business cards, design a company logo, call a realtor, research ARV's in the areas I'm interested, learn to estimate repair costs, apply for a mortgage, join a mastermind.

I could continue but you get the point.  The list is overwhelming when viewed as a whole.  So to break this down into manageable tasks, I grouped similar tasks together and kept paring things down until I only had six groups.  You might even call this my...SuperSix!

For example, Attending a REIA meeting, finding private capital, joining a mastermind etc. can all be grouped into "Seek, build and maintain mutually beneficial relationships in the Real Estate community to enable finding and closing deals."

So here's what I ultimately came up with as my SuperSix:

1. 1. Create a vision, goal and action plan
2. - Basically charting my planned course to success.  Critical not to skip this phase.
3. - subtasks include writing my bucket list, crafting my vision article, determining my 1 year goal, setting my SuperSix, posting my vision and goals on my office wall, telling close friends/family about my vision.
4. 
   2. Determine my target property criteria
5. - There are a lot of properties in Las Vegas, instead of arbitrarily throwing my marketing dollars at the entire city, I plan to determine specific property criteria to help me narrow down my focus.
6. - subtasks include determining what types of properties local investors are interested in, learning about specific areas of town, determining methods to evaluate an area, practicing analyzing a property, seeking advice from experienced local investors.
7. 
   3. Determine and select my lead generation strategy
8. - There are tons of ways to generate leads.  I can't chase all of them and I'm also restricted by the potential that I might need to travel away from Las Vegas for work in the coming months.  I need to research the best way to generate leads given my restrictions.
9. - subtasks include learning about lead generation methods, determining costs, benefits and limitations of each method, seeking advice from experienced local investors
10. 
    4. Build a LAPS Funnel
11. - Leads, Analysis, Proposal, Success.  I'm new to real estate but it's easy to see that lead generation and deal flow are the key to every single real estate business model.  No leads, no deals.  No deals, no profits.  I want to be very clear with my target property criteria and the methods to generate leads.  Once I have those two things determined, I just need to build a LAPS Funnel to make it happen.  This step is the heart and soul of my entire goal.  This is the step that will take the most effort and yield the most results.
12. - substeps include setting up lead generation systems and processes, learning to quickly and accurately analyze estimated repair costs and overall deals, learn and effectively use negotiating techniques, talk to an attorney, get a contract, learn the assignment process.
13. 
    5. Seek, build and maintain mutually beneficial relationships in the Real Estate community to enable finding and closing deals
14. - There's a lot to this step.  I've put a lot of emphasis on deal flow with my previous goals and I hypothesize that if I can get good deals, the rest of the process will be much easier.  This step encompasses "the rest of the process".
15. - substeps include building relationships with cash buyers, building relationships with sellers, building a network of real estate professionals (realtors, mortgage agents, title officers etc.), close a deal!
16. 
    6. Blog about it and hold myself accountable
17. - This step is all about making my goals known to increase my accountability and likelihood of success.  Additionally I hope to help others that are just getting started.
18. - substeps include creating a biggerpockets blog, writing about my thought processes, sharing with friends and family

Well there's my SuperSix and the process I used to set them.  I also want to note two things.  My SuperSix aren't necessarily sequential or mutually exclusive.  Yes, steps 1-3 should probably be done in order but the nice thing is that while I'm working on one step, it's probably also moving me forward on other steps too.  Additionally, my SuperSix aren't static, "Set It And Forget It" goals.  The SuperSix process should be iterative.  As I learn, make mistakes, and gain experience, I'll have to revisit and revise my SuperSix.  The upside to blogging about it all is I can capture my thought process at the time (and probably laugh at my naivety in hindsight... :p) 

It's been a sprint this week to get step 1 done but now that I have a clear path ahead of me, I'm excited to knock out steps 2 and 3 next week!  I'll be starting the "90 Days of Intention" Journal on Sunday so tune in to my next blog post to hear how it goes!

Thanks for reading and see you on the flip side!

Justin