We’re in a HUGE industry! It’s vast, varied, and full of opportunities–new ones, old ones, polished ones, raw ones, and to many: future ones. Yet how does one know when to broaden one’s horizon or focus in one area and put the brakes on other new/fresh real estate strategies?
Real estate comes in all shapes, colors, and sizes. And so too do the ways one can play the real estate game. You might prefer to develop new construction properties, buy and hold cash flowing properties, rehab and sell single-family homes, invest in notes, et cetera. The list goes on and on. Unfortunately that never-ending list of ways to play the game can create a detriment to your business if you aren’t careful.
I like to call it the shiny object syndrome. And it can be a killer to one’s growth as a player of the real estate game. With the sheer size of our industry, it is so easy to get distracted and pulled in 10,000 directions.
Tips for Staying Focused
We’ve all been there.
We’re laser focused, in our zone, burning the midnight oil piecing together a great real estate deal we’ve put our heart, soul, and years of expertise into. Then, out of no where, SQUIRREL! We suddenly get distracted and torn from our original real estate endeavor by something we think is shinier, brighter, and more enticing. While exploratory growth is good and healthy, the issue here is that, because of the vastness of our real estate ocean, there will always be shiny objects in our path.
So how do you avoid getting distracted by opportunities that, at the end of the day, just aren’t your cup of tea? It’s a challenge–no doubt about it. But here are a few ways to know when to stick …read more