Let’s assume you want to retire in the next 3-5 years and you’ve decided that the best way to achieve that goal is by investing in apartment buildings by raising money from others (good decision, BTW!).
There are three problems with this goal:
It’s too far into the future.
You’ll likely have to do several deals to get there.
Even doing your first deal might take a year or longer.
Most newbies are so overwhelmed by this that they never get started. The few that do get started give up after several months because they haven’t done their first deal.
Why do they give up?
They’re analyzing deals, making offers, meeting with potential investors, and building their team, but they don’t have a deal under contract. This is incredibly frustrating, and many quit because they expect immediate results if they implement a series of steps that are supposed to lead to a specific outcome.
They think that because several months of work have not produced a first deal, they are not making progress. They become discouraged, and without a good mentor, they will quit.
The truth is that they’re actually making progress, but they don’t see it. The solution to staying on track is to recognize and celebrate the small milestones on the way to the ultimate goal.