What does ROI mean to you? If you want to become an investor, you will want to understand return on investment (ROI) so well that it becomes second nature. While bank accounts will yield 1% returns, in real estate it’s not uncommon to get 20%, 100% or even infinite returns on your cash invested. Of course, the other side of the coin is risk. So, before you invest in real estate, consider making one investment first…
Above money, your most valuable asset is your time. Time is the great equalizer. Everyone is given the same number of hours in the day. The difference is how we spend our time. Ever wonder why some people get ahead while others do not? It has less to do with talent or luck, and more to do with how each person spends their time. So, learn to invest your time BEFORE you start to invest your money if you want to get a good T-ROI (Time Return on Investment).
Rather than “spending” time, think of “investing” your time instead. Think, if I spend my precious time on X, then what benefit will I get in return? Good investors also think long-term, so think long-term when it comes to your time. Ask yourself, how will this activity benefit me in the long run? Does it move me closer to my long-term goals? If the activity does not yield some long-term benefit, then maybe it isn’t worth your time.
Even rest can be an investment if it helps you to come back stronger and more motivated. Just taking the time to consider how it is going to benefit you will ensure that you are thinking in the right terms. Here are some suggestions on how you can invest your time to get a good T-ROI:
- Invest your time into personal development. We all have rough edges that need to be smoothed out. Invest time into reading books, going to seminars, or listening to audios that help you to become a better person. The benefits this activity will permeate every area of your life.
- Invest your time into great relationships. There are few things that matter more to your success than your association. Invest time into the relationships that make you better and lessen the time you spend with people who drag you down.
- Invest your time into learning. Never think that you know it all. You can always learn more about your craft, your relationships, your beliefs, etc. If you are going to work, why not be great at it? If you are married, why not have a great marriage? You get the idea. Learn more about the things that matter to you and it will enrich your experience doing those things.
- Invest your time into improving your health. Exercise and nutrition will result in greater energy and longevity. Don’t you want to live long enough to see the fruit of your labor? Kick bad habits and replace them with healthy habits. Your future self will thank you for your healthy habits today.
Sometimes, your growth in the areas suggested above will cost money. Consider it money well spent!
Remember, you can always make more money, but you cannot make any more time. Once it is gone, it is gone. So, increase your T-ROI to multiply your real estate ROI.