Are you getting the most out of your 4000 weeks on this earth?
That’s not a misprint. On average, that’s pretty much our average life span and some don’t even get that.
I’m not saying this to scare you. I just need to make sure you’re aware of your relationship with time and how you choose to allocate it.
You see we all have 24 hours in the day, no more, no less. And we all get to choose how we spend those 24 hours.
So if you’re not happy with the amount of time you get to spend on the things you want to do – change it.
How To Make Time For What You Really Want
“Change it”… easier said than done, right?
You’re probably already spending most of your time on various commitments that you can’t (and shouldn’t…) avoid. Work. Parenting. Helping an older parent. Being a part of the community.
Being able to spend time on what’s important to you sure as hell sounds nice, but if it seems unachievable – I have some easy steps you can take that will immediately help you start seeing a light at the end of the tunnel.
Let Me Give You An Example
To keep it relevant to this blog, I’ll base it around becoming financially free using property investing (that’s why you’re here, right?) OK, let’s set the scene:
- You hate your job.
- Or maybe you love your job but you hate that it takes up all your time.
- Or maybe you don’t care what you do for a job but you just hate that you never have enough money or time to do the things you want in life.
Whatever the motivation, you need to learn new skills and smarter methods to create more streams of income to increase available time and money.
So you decide to become a property investor.
You invest in a bunch of resources, attend seminars, read books, start associating with other people that want the same thing as you and maybe even attend our property networking group.
The Big Mistake You’re Making
Now this is exactly where most people fall over…. They try to become property investors without changing any other component in their life.
Instead, their pursuit to become a successful property investor simply gets added onto the vast amount of other commitments they already have on the table….
You know the commitments I’m talking about right?
- Working a 40, 50, 60 or even an 80 hour week
- Managing a household with cooking, cleaning and maintaining the home
- Looking after children and tending to their every need
- Staying fit by exercising every day
- Social commitments on weeknights and/or weekends
- And of course feeding a habit of TV watching and checking your phone every 6 mins!
If at least 3 of the above points relate to you, it’s unlikely you will ever be able to become a successful property investor – unless you make some changes (so keep reading).
In this scenario of wanting to become a successful property investor, you obviously need to allocate time for acquiring all skills and knowledge that are required for you to succeed.
But – with all other commitments already “on the table”… it’s almost impossible to find enough time to make your dream come true…
Unless You Do This…
If you want to achieve ANYTHING in life, you need to be realistic about the amount of time you can commit to achieving that outcome.
An old mentor of mine used to say, “Part time effort, part time result.”
That statement doesn’t mean you just ‘select all and delete’ every task in your life. It just means the results you’ll get are directly related to the amount of effort you contribute. You see…
It’s Not About The Quantity Of Time. It’s About How Consistently You Allocate The Time!
Think about what’s currently in your life.
What can be sacrificed? Or at least paused for a period of time?
Be realistic about it, and remember to allow for the unpredictability of life.
I know as well as anyone that life is incredibly hectic these day. So if there’s anything you want to achieve, it’s important you put aside a consistent amount of time each day or week for working on it.
Whether it’s learning to play guitar, training for a marathon or committing to become a successful property investor – you need to set up a plan of action that has a consistent allocation of time.
Because…
15 Minutes Every Day Is Infinitely Better Than 4 Hours on a Sunday Night… Followed By Sporadic Sessions Across The Month!
When I decide to take on something new, I manage it by following this 5-step plan to ensure success every time:
- Decide what I’m happy to sacrifice to free up time (e.g. No phones, internet or TV on Tues, Thurs and Sunday night)
- Decide on a quantity of time I can allocate consistently each week (eg 30-60 mins every Tues, Thurs and Sunday night)
- Draw up a table or use a calendar and note the days and times I am committing to the task
- Have an accountability buddy (partner, coach, colleague or friend) review the plan
- Attend each allocated session as if I’m being paid $500/hour to be there.
Implementing a 5 step plan like this is where momentum begins. And here’s another important tip:
Make sure you create an incentive (real or imagined, whatever works for you) to treat your own education sessions like your life depends on it!
“My Life Depends On It?”… That’s A Bit Dramatic… Isn’t It?
You might think that’s over the top. But in reality there are retirees out there right now choosing whether to buy food or medicine this week with their pension.
For me, that’s a life and death situation I don’t want to be in… so I plan today to ensure that’s not the reality for me or those around me tomorrow.
“I Allocated Consistent Time Slots For My Main Goal… Now What?”
Allocating realistic, consistent slots of time is the first part, now let’s set up a plan with what to do with them.
Following through is where most people fail before they start.
So it’s important that we allocate some actionable steps to build momentum as soon as possible. How do we do that?
Great question. You start by being kind to yourself.
Choose three simple assignments to complete over the coming week, and commit to putting them into action to get the ball rolling.
For example, you could:
- Spend 15 quality minutes focusing on your ‘Why’ behind property investing.
Tip: Move past the usual responses of time and money by using this free ‘Finding Your Why’ download by going to this blogpost) - Choose a random property for sale on the internet to practice running the numbers on a deal.
Tip: Go to realestate.com.au, select your suburb and type in subdivision as the keyword, then use my free 2 minute formula to crunch the numbers - Call up a local real estate agent in your area and arrange a time to inspect one of their properties for sale.
Tip: The purpose is not to inspect the property but to build rapport with the agent and discuss other available sites that might suit your strategy.
Can you see by singling out three different tasks you’ve already started to build momentum?
Implementation is where the real education begins… and that starts with getting the first few tasks done, and getting the ball rolling.
You’ll be amazed at how quickly you progress towards your goal when you start creating a track record you can be proud of.
And if you’re really serious about making your dreams come true and your goals a reality, check out this blog post I wrote earlier this year:
Why Not Start Now?
Choose 3 tasks to complete, and commit by posting them in the comments below with a timeframe of completion. Why do that?
First, I’ll respond with my feedback and will keep you accountable and help you create the momentum we all need so desperately.
Second, to help you stay on track, I will give you a special bonus… specifically for you… based on the 3 tasks you’ve set in your comment.
But you need to comment now and to commit to taking action before you find out what the bonus is!
Ready?
Go for it!
Excellent blog Matt,
I couldn’t agree more about the need to complete regular small tasks, rather than a huge block effort every so often. Unfortunately its a hard habit to break and I am constantly running into roadblocks…..
If I keep trying though I know I will find the right methods which will work for me and my own personal situation. Thanks for the continued inspiration.
My 3 tasks:
1. Work out exactly which days of the week are “property” days. Schedule in the calendar. – Complete on Sunday night planning session
2. Write email to mentor discussing current roadblocks and seek suggestions for solving these “problems” – Send email NLT Thursday night
3. Finish the letters I am drafting and post them. – No later than COB Friday
Looking forward to the next blog.
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Thanks for the great comments Adam. Yep I agree its a constant balance to keep the consistency. I fall off the horse all the time but always quick to jump back on which is the key i think… admitting we’re only human, not beating ourselves up and just starting again. Good luck achieving those tasks mate and I’ll send you something via email now that I hope will help you 🙂 Cheers, Matt
1) Get an hour in continuing to read a book on property investment that I’ve stalled out on reading – and not because it’s a bad book (it’s outstanding), I’ve just lost momentum.
2) Reach out to one member of my local property development group and see if they would be interested in going to lunch and telling me about one of their deals.
3) Revisit my goals as the timelines in these don’t align well with the time it takes to complete a development
Awesome goals for the week James. Funny how it only takes a small prompt to get things going again. Great to see your project progressing well and it’s testament to the action you consistently take – well done mate. I’ll see if I can find something cool to send you…. keep an eye out 🙂 Cheers, Matt
I choose a property.
I downloaded the free 2 minute formula to crunch the numbers.
I have called up the real estate agent and arranged a time to inspect the property for sale.
Organised my calendar for the week.
Good stuff Wayne and thanks for posting your 3 things. I’ll pick something from the vault that i think you’ll like. Keep an eye out for my email… Cheers, Matt
Thank you Matt. This so true. Great recommendations. Smaller tasks are more realistic to accomplish, but they will certainly lead to bigger achievements.
Thanks Elena. Yep baby steps is the key I’ve found… 1000 miles begins with a single step 🙂
This post really engaged with me exactly where I’m at Matt, so thank you. 8 months ago I’d never even considered that I could potentially become a property investor or even own property in the next 5 years. But taking action for the first time in my adult life (currently 30) towards building wealth after seeing a sponsored Facebook post has completely changed my outlook on life. After attending a free 1-day seminar I spent hard-earned money on a well known property investment education community/course, and now I am deep in the trenches and looking to put together my first deal. The shift in mindset and self-belief has been the hardest thing I’ve ever done, but continually working on my knowledge and personal development brings a sense of reward daily, and I’m hungry to press forward towards tangible wealth outcomes. I have never worked this hard or with such a sense of driven-ness ever before- not in my HSC (though I did well), not at uni (though I did well), and not at a couple of good professional positions I’ve been in. My life has literally been turned around…and I haven’t even made money from this new direction yet!
So my 3 next SMART goals are:
– send all necessary documents to our mortgage broker for loan pre-approval by tomorrow afternoon
– READ your “2 minute number-crunching” guide as soon as I press post on this comment
– Shortlist properties in my target suburb for reno/subdivide potential using RPData and compile mailing list for letterbox drop on Monday
Thanks kindly yet again.
Thanks for the great comments Bowen and how inspiring to hear the massive changes you are making in your life. My property epiphany happened when i was 33 so you’re ahead of me already 🙂 Keep up the consistency Bowen as that’s the key to long term results. Great to hear you’re addressing mindset as well as you’ll discover that playas a huge part in your success. I’m sending you some cool bonuses to get your teeth into mate. Thanks again. Cheers, Matt
Hi Matt, I spend at least an hour most nights of the week (usually nothing on TV worth watching anyway). My goals are:
1) Practice crunching the numbers on property deals on two properties per week.
2) Prepare a spreadsheet of comparable sales and for sales to be able to identify value deals in my chosen suburb.
3) Set new goals/tasks for the next week every Sunday.
Awesome stuff Judy. I once heard that TV was short for Time Vanishing machine 🙂 Great goals and I’m sure you are making some real progress in becoming an area expert. I’ve just send you some goodies via email. Thanks for the comments 🙂 Cheers, Matt
Hi Matt
Great post.
My 3 steps for this week are: submit my tax, update analysis of my portfolio so I am aware of where it’s at and how to move forward, get in contact with town planners to determine options for my sites.
Cheers Peter