Secret Way to Set Goals

Like most people I thought I understood how to set goals.  I would say “by this time next year I want to have wholesaled 5 properties.”  Well 1 year later I would have failed miserably or even abandoned all hope many months before.  The reason for failure?  It was the lack of short term goals and weekly action items.  Let me explain a little further…

With out a plan it is very difficult to achieve a goal.  My failure to wholesale 5 properties was because I didn’t know how I was going to wholesale the houses.  I didn’t have a plan to follow, I just had a pie in the sky dream.  Not only does a plan give you a guideline on how to achieve your goal, but if done correctly, it gives you that immediate satisfaction that all humans want and that keep you going.  Here, let me give you an example…

1 yr Goal: Wholesale 5 properties

6 Month Goal: wholesale 2 properties and have 2 houses under contract

3 Month Goal: wholesale 1 property and put house under contract

1 Month Goal: put 1 property under contract (can’t wholesale a house with out putting a house under contract)

Now here is the part that makes it all possible.  Ask yourself, how am I going to put that property under contract?  This is your plan for each week…

Week 1:

• Identify the type of houses you want to look for and the area you want to look.
• Contact Realtors to send you listings meeting your criteria
• Place craigslist ads looking for buyers that are seeking those types of houses
• Drive your targeted area looking for your type of house
• Look at comps for all houses that meet your criteria.  This is to gain ARV knowledge so you know what to offer and what the house will sell for.

Week 2:

• Submit 5 offers on houses that meet your criteria.  make sure those offers work for you.
• Place ads on craigslist looking for buyers and sellers
• buy a list of leads from listsource
• send out mailers to those leads

Week 3:

• Go to your county auction, to meet investors
• go to your local REIA to network
• Send out 5 more offers on houses
• Place ads on craigslist looking for buyers and sellers

etc…

Each one of the weekly goals are easy to achieve and can usually be done in less then an hour.  That is the key to success!  Everyone of those small goals is the foundation for success in achieving your larger goal.  With each small goal completed you will feel your motivation build, it’s amazing how it works.  Try it!

Hope that helps some of you, it certainly has me now that I’ve figured it out.

-Scott Costello

Related posts:

1. What Goals?
2. Goals for 4/27 to 5/3
3. Goals for the year
4. Goals for 5/11 to 5/17
5. Goals – Wk 4/13 to 4/19