ULTIMATE Guide To A Million Dollars

If you want to make $1 million a year in real estate, here's the formula that you need to follow. First, you need to figure out what your average deal size is. My average deal size is $16,000. So every single deal I do, it's worth about $16,000 to me. Some are going to be less, some are going to be more, but across time, the average amount is going to be about $16,000. Now, based on that, I need to do about 63 deals a year to make $1 million. Now, I've been in real estate long enough to know that every single deal I get isn't necessarily going to close. So assuming we close 75% of all the new deals we get, we actually need to get just under 84 deals under contract. Now that's just 7 deals a month, or less than 2 deals a week. Now I know that across all my marketing channels, I convert about 1 in 15 leads. So if I wanna lock up 7 deals a month, I need to be generating 105 leads a month. That's really only 3 or 4 leads a day. So if I can generate 3 or 4 leads a day, convert that into 1 or 2 deals a week, then after a year I will have made $1 million. Not enough people are breaking down their plans like this. Instead of just saying, "I'd love to make $1 million this year," I'm surgically examining my KPIs and then setting daily goals that compounded over time will get me to where I want to be. In order to tackle big goals, you need to break it down into bite-sized chunks. Maybe when you first look at the big picture, making $1 million can be really intimidating, But when we break it down, generating 3 or 4 leads a day? Doesn't that sound super achievable? There's only one way to eat an elephant, one bite at a time, guys. So when you break down goals like this using actual data, you are scientifically engineering yourself for success. Also, it's gonna give you an idea of what will be expected of you every single day. I know I can generate 4 leads a day, and I'm willing to do that. But what if my goal was to do $100 million? Would I be able to generate 400 leads per day? Would I even be able to find enough salespeople to handle that many leads? One day, yes, but for now, it's just not really gonna be in the cards. If you have any sort of big goals for yourself, which, if you're watching this video, I know you do, you need to learn how to break it down into daily activities that will eventually get you to where you want to be. I'll give you another example of how you can use this framework to accomplish any big goal. Let's say you wanted to lose 25 pounds. At first, this could seem like a daunting task, but here's how you can break it down. In order to lose 1 pound of fat, you have to burn 3,500 calories more than what you consume. So if you wanted to lose 1 pound of fat per week, you would need to burn an extra 500 calories a day. If you burn an extra 500 calories a day all 7 days a week, that would be an extra 3,500 calories. Now, the average person is going to use about 2,500 calories a day. So if you need to burn an extra 500 I would recommend doing this by eating 350 less calories and then burn 150 additional calories by exercising. Walking on a treadmill at 3 speed, 12 incline for 15 minutes is a great way to burn that extra 150 calories. So if you only eat 2,150 calories a day, 350 less than 2,500, and every day you walk on the treadmill for 15 minutes, then you will lose 1 pound of fat per week. Now, if your goal is to lose 25 pounds, then you need to do this this for 25 weeks, which is just over 6 months. Now, let's say you don't want to walk on the treadmill every single day. You look at it and you're like, "Hey, I'm not willing to do that." You could instead just eat 150 calories less a day. You see how by using math you can break down big goals into small actionable steps? When you break it down and realize that you can still eat 2,150 calories every single day and all you have to do is sacrifice 15 minutes in order to achieve your goal, it sounds so simple, right? I break down every single goal in my life this way. Whether my goal is to increase the amount I bench, how many YouTube subscribers I'd like to have, or how much money I want to make, all of it is broken down in this exact same fashion. I know exactly what my activities need to be every single day to get to where I want to go. And because I fine-tune my goals like this, I know I can achieve anything I set my mind to. It's just a matter of clearly defining the goal, breaking it down into daily actions, and then deciding if achieving the goal is worth it to me to do whatever the daily actions are. And that's one of the biggest things people don't do, is really decide that achieving the goal is worth having to do, or maybe stop doing, whatever it is that will get you to your goal. So for example, I was talking to a friend about building muscle. He's gone through an incredible weight loss journey himself, and he was considering really dialing in at the gym to build a ton of muscle. But when we broke it down to what he'd have to do every single day, the food he's going to have to eat and the food he won't be able to eat, the workouts he'd have to do, the cardio, he decided that he was not actually willing to do all of that in order to accomplish the goal. And guess what, guys? That's completely fine. Everyone's goals are going to be different. Some are going to be bigger, some are going to be smaller. All that's important is that you are doing what makes you happy and that you have a map of how to get there. By clearly defining what the goal is and breaking it down into daily steps, you will have a clear map. Now, if you need help breaking down your goal into daily steps, comment what your goal is on this video and I'd be happy to help. Now, also, if you enjoyed this video, go ahead and subscribe and give it a thumbs up. But as always, thank you guys for watching and I'll see you on the next one.