Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Don’t Make This Mistake in Real Estate!

16 Nov 2023 · 1 min

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Christian Osgood warns that vague goals like "getting passive income" or "escaping the 9-to-5" doom real estate investors. You need a concrete purpose and timeline before you start, or you'll get bored and quit. Define what you actually want real estate to do for you first.

Chapters

The first thing that people miss is they have not defined where they're actually trying to go with the real estate. What is the real estate actually for? Now, someone who has not thought this out is not ready for this step yet usually sounds something like this: Hey, I want to get passive income so that I have more money every month, or I want to get out of the 9 to 5 so I don't have to work my day job. Few problems with these goals. First of all, way too ambiguous. You're never going to hit them. You're going to get bored, discouraged when things get hard. You're not going to hit them. 2, they don't have a defined timeline. You're going to take forever to get there, and you need to actually map out the right steps. You really don't know where you're headed.