April 5, 2012 · 1 Comment
How close are you to being truly financially free?
This doesn’t just mean making a lot of money, having $100,000 or even $1 million in the bank. Do you have enough cash or a real estate investing system set up so that you never really have to put in another week of work in your life?
It doesn’t matter if you made seven figures last year or you flipped 10 houses last month. What about next month, next year and the one after that?
If you are new to real estate investing you must have a long term plan. Just thinking as far as flipping your next house isn’t going to result in real financial freedom, especially if you keep spending a good portion of your real estate investing profits. Hitting a million is far, far from being enough to retire for most too. What’s your number or what is your system going to be for getting there?
Experienced real estate investing pros fall into this same trap too. You may have started with a five year plan. What happened to that? “Easy come, easy go, right?”
Real estate investing is fun and you may never want to do anything else but if you are still working for money you aren’t free!
The clock is running. Time is flying by. Your primary concern ought to be to build a system and real estate investing business which produces every month without your daily involvement. It may not happen overnight, it may take some work, some more real estate education and time but it is more than worth it.
This can be done by flipping homes but don’t let the day to day absorb or steal your ultimate goals. Map out a plan, set a timeline and stick to it.