Motivation! (or not)

I do not believe that easy money exists. I believe that hard work, determination and wise business decisions will lead to wealth.

When I think about the weeks after I purchased my first home, it was all an exciting blur. I was up by 7:00 Saturday morning energized and ready to conquer my flip! During the work day, I would take all of my spare time and invest it preparing long lists of items to be purchased and tasks to be completed. I didn't need any annual, semi-annual, weekly, or monthly goals.

It was fun!

I want to take a moment to emphasize was. After 4 months, my enthusiasm and funds were quickly disappearing. Dragging myself out of bed to go work on the &*$# house was not easy. Did I hate every minute of it? No, not at all. Were there days when the frustration was all I could bear? Absolutely.

Frankly, I didn't have many options. I didn't have the money to hire out contractors and wasn't in a position to take even an afternoon off from work. I had a choice to make.
1 - Give up on the flip. No one would have really blamed me. After all, I was a novice carpenter learning on the fly. We could have sold the property to a wholesaler and probably got out even.
2 - Dig deep and find a way to finish. Frankly, this was my only option. Here's why.

Goals provide urgency. This summer I will sell my first condo and reinvest all of that money into my next project. This fall I will sell my second condo and reinvest the profits into a larger residence.

I will grow my business as I come into contact with the right people who will help the company succeed. I'm planning on a minimum of six flips in 2008 and want to be doing 12 in 2009.

Emotions don't get in the way. I don't feel like going to work. That doesn't matter. What matters is whether or not I went to work. I can promise you that some days you will feel like being on the site working. Those days are great! I guarantee you that there will be days when you don't feel like getting after it. These can be the most rewarding days! The can build strength, character, persistence and help to instill a relentless work ethic!

This article isn't to serve as a pat on the back (Lie: I'm really proud of completing flip #1.). It's also to encourage you to think about your goals within real estate and your personality. What motivates you? What drives you? What is going to separate you from the pack and make you successful?