Episode 175: How to Know What to do Next

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Show Notes

As I’ve been planning to jump back into flipping houses, wholesaling houses, buying rentals, creating owner-financed notes, it occurred to me that there are a lot of directions to go in.

I hadn’t felt this way since….since I began studying real estate investing in the early 2000’s. There’s so many avenues to take and so many strategies to use.

I’ve done all of this before…for almost 20 years…but what is this I’m feeling…OVERWHELMED!

Why?

I had to look within and find out what was causing this…heaven forbid…analysis paralysis.

The excitement of getting back into the game after my divorce (as mentioned in this blog post about me starting flipping houses again link will open in new window), fueled me to start do some marketing.

But, I soon realized my efforts were all over the place. There wasn’t much structure or order to them.

That’s why I was feeling overwhelmed!

That’s why I didn’t like when someone asked me how the house buying was going. It’s because I hadn’t taken much action.

Today, that changes!

You can’t manage what you don’t measure.

This business is a numbers game as so many realized from my book, Flipping Houses Exposed link will open in new window, where I showed the 495 leads I generated over a 34 week period.

If I want to take action and know the action is take in the right direction and the right time, I need to figure out what I’m trying to accomplish.

I need to know what the goal is. Then I can reverse engineer this whole thing to make sure I hit my goal. Without the goal, I’ll continue to feel like I’m just playing around and wasting time and energy.

You ever felt like that?

If I can determine what financial goal I want to have, I can determine where I’m aiming.

Then I can determine my likely profit per deal and the number of leads it takes to get each deal. This will show many how many leads I likely need to generate.

This isn’t rocket science. I’m not going to nail these numbers. The key is just to have numbers to go off of and then record actual data for what I experience. This way I can tweak my numbers from actual data over time.

Once I’ve done that I can determine which marketing to focus my attention on to get the types of deals I want and I can set goals for those.

This way I will have goals, measurements, and know I’m moving in the direction intended. I can then put blinders on to shiny objects that I’m drawn to when avoidance sets in. You know what I’m talking about. Procrastination.

The best way to setup these goals and track the data is to use a system like EOS found in the Traction Book link will open in new window.

I absolutely love the Level 10 meetings described in that book and recommend anybody that is starting flipping houses or already in the business doing deals to use.

I’m going to be sharing some big news coming soon about my documenting of journey to get deal consistency and take action along a determined path. Be sure to subscribe to the podcast! Click here to subscribe on Itunes link will open in new window

Links to materials discussed in this episode

Find out how to get FlipPilot 2.0 for free by listening to the replay of our Launch Zoom Call: https://flippilot.com/demo

>>Come and join us in the FlippingJunkie Group on Facebook!

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