Mid-Year Resolutions Check-In

Like everyone and their mother, in January I set goals (New Years Resolutions) for the business and myself. I posted about how my business partner and I came up with our goals in an article on Bigger Pockets:

https://www.biggerpockets.com/blogs/7285/53567-goal-setting-tips-to-help-you-establish-your-goals-for-the-year.

To ensure my commitment to these resolutions, one of my personal goals was to post a mid-year update on BP. Soooo here it is!!! However, before I start, let me first tell you that I have not been following up on them recently.

One of our goals was to fully flip 8 houses this year. Status Update: We have sold one, have one under contract, and are currently mid renovation on two. Being that it is mid-year, you might think that we are right on target, but I think we are a bit behind as finding the houses in our area can prove to be a bit tricky. The interesting part about this goal was once we set our goal, and broke down how many offers we would need to make to yield a purchase, we started making a lot of offers. Several of our offers were accepted (we actually closed on three houses in April alone!), so we stopped making offers as we didn’t have the manpower to have all of these houses renovated in parallel. As my business partner likes to say, “We went from doing one house at a time to four, and that was a huge jump to make”.

This jump to doing four houses at the same time is the reason why I have not kept up with all of my other resolutions. One of which, is to post monthly on Bigger Pockets (so expect to see several posting in the coming weeks). While I will begin to focus on my resolutions again, there are a couple of lessons I have learned:

1) Working “in” your business just keeps your business afloat; whereas, working “on” your business takes you to the next level. Once we began to work “on” our business, instead of “in” it, new problems would arise. Our old habits kicked in, and we once again started working “in” our business to put out these new fires. In order to keep our business progressing (and not just staying afloat) we need to go back to working “on” our business.

2) Never give up on resolutions! Here I am doing a mid-year review disclosing that I haven’t worked on the resolutions for the past couple of months. Is there a reason for it? Yes, but does that mean I can’t go back to working on them the rest of the year? No. Remembering why you created the resolutions in the first place should provide the needed motivation to start up again. You don’t need to wait until Jan 1 to start again. Any day can be your January 1st.

I want to keep this short, and sweet, as I need to get back to working on our business. BUT, while writing this I learned that one of our offers was accepted, so three more flips to go by the end of the year to reach our magic eight number!!!!