Is it possible to be too optimistic? A positive mental attitude is important to a person’s success, no doubt. After all, how could you enjoy the fruit of your labor unless you had some enthusiasm and belief behind your grand endeavor?
However, positive thinking without reality can get you into a heap of trouble. When you simply dream without considering obstacles or calculating risk factors, you put all your dreams at risk.
Try using the WOOP method developed by Gabriele Oettingen:
- Wish: Identify what you wish to achieve. Dream big!
- Outcome: Imagine the outcome. (Think lifestyle, how it will feel, what it will look like, etc.)
- Obstacle: This is the reality part. Be honest about what stands in your way and the liabilities involved.
- Plan: Think, “How can I?” and map out each step. Every obstacle can be overcome with planning and patience.
Real estate investing attracts a lot of dreamers. That’s wonderful! Just make sure you allow reality to be a close companion to your dream. Without reality, a dream is only a fantasy.
For your reading pleasure
Denver was ranked #2 Best Place to Live by U.S. News & World report
, down from the top slot last year. (We also won the super bowl last year… coincidence?) The ranking is based on quality of life, job market and housing. Who beat us? Austin, TX, last year’s number two. As the Broncos know all too well, it’s hard to stay on top. Silliness aside, we know we are living and investing in a great market. Let’s keep at it!
Housing prices have risen so much in Denver that we may have reached a plateau. Builders are looking to add more affordable housing to the market in the future.
Most new homes in the Denver Metro Area start in the $400’s and all homes sold averaged almost $400k. This has creating a huge demand for lower-priced homes. For right now, anything priced in the under $400k should expect to get multiple offers. (Side note: Colorado Springs
is experiencing a similar situation, just adjust your numbers down by $100k.)
See you soon,
QUOTE OF THE WEEK:
“A dream doesn’t become reality through magic. It takes sweat, determination and hard work.”