You Need To Know Your Final Destination If You Want The Directions To Get You There
You Need To Know Your Final Destination If You Want The Directions To Get You There

If you had a chance to read my post from last week about the ‘Why’ factor in real estate investing, there’s a good chance you’re interested in taking your real estate investing to the next level. Sophisticated investors know there is a lot more to real estate than simply ‘doing’ – some serious thought and calculated business decision making is required for a real estate portfolio to really take off and carry you down the path to the final destination called “Long-Term Wealth”.

Newcomers to my blog are sometimes surprised to learn that the development of a Personal Belize should be tackled early on in their real estate investment journey. Most believe that the best course of action is to just jump in, as that has probably been their modus operandi in most aspects of their life – jump in and fix things later if you have to. However, when you step back and look logically at all investments, doesn’t it make sense to have a very real destination in mind rather than a vague idea of “more”?

REIN™ is like Google Maps – even if you know where you are, you still need to enter a destination in order for it to be able to help you get there. For Google, it is a geographic destination that needs to be defined. For REIN™ and real estate investors, the destination is financial and lifestyle. In both cases, the more specific you are with the destination the easier and faster it is to get there. This is why it’s so important to understand that a Personal Belize isn’t an idealized notion of what future wealth can bring into one’s life. It’s the detailed culmination of what you really do plan to do with that wealth.

One of the best ways to start developing the your notion of what your Personal Belize will look like is to make a pictorial collage that displays various components of what a future with financial security will allow you to do. I’ve seen collages that feature expensive cars, vacation villas and children or grandchildren getting a post-secondary education without debt. Other investors paste words like “mortgage freedom” over photographs of their family homes, or find pictures of exotic locations they plan to visit. I even know a guy whose Personal Belize included a very specific type of cappuccino maker that he wanted installed in the kitchen of his BC vacation home. This investor loves spending time with extended family and friends and his definition of a great day begins with a great cup of coffee.

Post-retirement plans are the most common theme for investors to develop their Personal Belize around, while others take a more prosaic approach. Because they may have already encountered issues with bad investments, the people in this group take great comfort in depicting a kind of step-by-step approach to financial freedom. The details of their Personal Belize may change over time but they will l always focus on what they’ll be able to do once they meet certain financial goals. For example, they may want to be debt free in a certain number of years and be able to help elderly parents with living expenses while still putting money aside for their own or their children’s future.

So you might be wondering: What does my own Personal Belize look like? Because I mentor so many investors, I don’t share the details of my own Personal Belize as I’ve seen investors run into trouble after pursuing a vision that really belonged to someone else – and that’s not a problem I want to promote!

What I CAN tell you is that my Personal Belize has strong ties back to the personal vision I wrote when taking a business motivational workshop taught by Alan Jacques back in the early 1990s. To recap, that workshop is when I wrote my first life purpose statement:

To use my humour, honesty and intelligence by reading, gaining knowledge from all sources, and keeping everyone around me in a positive frame of mind, so I create success in my business and all areas of my life so that everyone has everything they need to be comfortable and to enjoy their lives.

Imagine what it was like, years later, to realize the ideas expressed in that life purpose statement also form the crux of my Personal Belize! In short, real estate investment and REIN™ have enabled me to:

• Pursue a future where I can be financially successful while simultaneously helping other people achieve their own goals.

• Help my JV partners generate future wealth.

• Mentor thousands of investors—many of whom I only know through the stories other REIN™ members share with me.

• Along with my wife Connie, help my mom and dad when they needed it most.

• Travel the country and the world experiencing events my wife Connie and I never thought possible.

• Write six bestselling books.

• Support Habitat for Humanity, a charity we really believe in. By donating 100% of all my author royalties and combining them with the amazing support of REIN™ members we have raised more than $822,000 to build homes for Canadians who need a hand up. I’m not going to pat myself on the back for this, but I will tell you that a clear understanding of my Personal Belize did a great job of keeping me on track.

Real estate has truly given me the opportunity to provide for my family and affect the lives of the people I’m surrounded by. It’s an opportunity that is available to most anyone, and although it has ups and downs, it is just like any other business – you get out of it what you put in.

If this is something that you think you’d like to surround yourself with, join me and my team and learn how to reach your own Personal Belize at the ACRE™ Live Program, hitting Edmonton on October 19-21 and Vancouver on November 2-4. Your opportunity to change the destination for your financial future is in your hands, you just need to decide the end point and we’ll help you choose the right path. See you all soon.

You Need To Know Your Final Destination If You Want The Directions To Get You There was last modified: September 26th, 2012 by maddy

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