Do Not Start Something You Are Not Going To Finish!
If you are going to flip properties, know that some of the projects you take on will challenge your ability to see them through. There are always going to be issues that you were not expecting, unforeseen cost, and every so often, just something that tries your patience to no end. Do not walk away, hold persistent and set your goals.
Do you have what it takes to finish what you have started? Are you an enthusiastic starter who finishes everything necessary to make your project successful or do you fizzle out before the project is completed?
Putting yourself into action and working to make your goals a reality is commendable and it is the first step to reaching your goal. Unfortunately, too many people get stuck in the thinking phase.
"There are those who work all day, those who dream all day, and those who spend an hour dreaming before setting to work to fulfill those dreams. Go into the third category because there’s virtually no competition."
Finishing any project requires strong planning and action. Just know that you will face challenges you did not anticipate when you started. Keeping focused with the goal in mind will allow you to easily accomplish any task. Some projects are an array of mutiple tasks while other goals are just one. Be realistic when setting the goal and hold yourself accountable.
Finishing what you start requires that you:
Stop starting new projects!
You will always face that temptation to grab onto something new and run with it. Unfortunately, you know that new project is only going to lose its appeal in a short amount of time.
Assess what you are working on NOW
What are your current projects on hand? If there is anything that is not worth finishing, ditch it. Stick with the active projects that have a need to be completed, priortize them, and keep engaged.
Focus on one thing
If you are about to give up, stop, focus, and start again. Do not try to put so much on your plate that it is overwhelming. A perfect example would be if you are working in the kitchen, have other contractors tearing up the yards, and they hit a main water line. Stop everything, get your team together and find out what the proper protocol is. Do not lose sight of what needs done by a stressful moment that can be easily corrected.
Not everything needs a milestone, but large projects will. Give your milestones deadlines and hold yourself accountable to getting the job done. Learning how to finish your projects is harder for some than others, but it is a skill you will need in order to get ahead. If you have been meaning to invest money in real estate, or you want to enjoy passive income in retirement, thinking about it is not going to get you there!
Recognize what "FINISHED" means
Give yourself a clear definition of what "finished" means to you in order to keep your project from dragging on endlessly. With any project, figure out what you'll need to make it happen and get started.