Give Your Shiny Object Phase a Deadline

I was talking with some student  recently and a topic came up that I pointed out right away, the shiny object. They mentioned five types of real estate investing they were chasing across a huge geographic area, and you might think I told them to stop right then, but I didn't.

Instead I encouraged them to set a deadline for when they'd focus on one niche, and I personally believe that should be around eight months if you're deep in the shiny object phase. I also encouraged them to cross strategies off their list the moment something doesn't feel right, whether that's while you're still learning it or already out there actively going after it.

📝 Cross Things Off Your List

I crossed multi family off my list after lunch with my friend Anthony Chara. The more we talked and the deeper I got into researching apartments, the more I realized I relate better to the person living in a single family home than to someone living in multi family housing, and that one realization changed everything.

Crossing apartments off my list made me more focused, and once I decided to go ALL in on mobile homes, I became known for it in my area. That meant everyone started bringing me their leads, and I became the expert.

 🎯 Why Success Comes From Being Focused.

You're probably heard it takes 10,000 hours to become an expert, and assuming that's true, the faster you get focused on one topic, the faster you get there.

The longer you stay in a niche, the less competition you have, and that's because of your experience. A lot of people who started when you did will drop off along the way, which leaves fewer people at your experience level, and the people who've been in longer than you eventually retire or move on, which leaves fewer people with more experience than you too.

Once you've been through hundreds or thousands of the same type of deal, you start recognizing patterns, and you build a deeper playbook that lives in your subconscious, one you can pull from without even thinking about it.

🧰 A Quick Note on Focus.

I'm not saying you can't be a lease option investor and a mobile home investor at the same time. Lease options, owner financing, fix and rent, fix and flip, wholesaling, notes, all of it, these are tools in the tool belt. Mobile homes are the widget you use the tools on. 

Are you still in the shiny object phase of your investing?

If you are, I'd love to know what your line in the sand is, the date you're setting for choosing your niche and committing to it.

Adrian's Takeaway

👉 Give your shiny object phase a deadline, cross off what doesn't feel right, and go all in on the one thing that does. Focus is what turns you into the person everyone brings their deals to.