When you read about gaining financial freedom in articles online and when you hear successful entrepreneurs talk about their lifestyles, you don’t always hear about some of the most important struggles along the way. As Tarek and I have been learning to balance our growing family with our house flipping business and our financial freedom training seminars, I’ve been thinking a lot about what happens when entrepreneurs and real estate investors start to feel burnt out.
Let’s face it—running your own business isn’t always a walk in the park. If you watch our show, Flip or Flop, then you’ve seen Tarek and I deal with a lot of really stressful situations. We’ve had houses where we went over-budget and didn’t know where we were going to get the money to finish. We’ve had houses that had black mold that put us way behind schedule. We’ve butted heads with each other and our partners about which rehabs were most important and which updates weren’t really necessary.
There have definitely been times when I’ve felt completely burnt out and wished that I didn’t have to look for new leads on flip properties. As much as I love working with people and talking to prospective buyers, there have also been times when I didn’t even want to go to an open house. It’s a pretty devastating feeling when you think about how hard you’ve been working and you can’t see any end to it, but for me that feeling always seems to happen right before a big break that makes everything seem easier and more fun. So, whenever I start to feel burnt out, I always do one or more of these things…
Stop and Take a Few Deep Breaths
First of all, if you start to feel like you’re burning out, stop, close your eyes, and take a few deep breaths. As you do this, think about what’s making you feel tired, anxious, and/or depressed about your situation. Are you burnt out on one task or are you feeling sick and tired of the whole struggle to make your real estate investing business work?
If you’re burnt out on just one thing, move on to another task that you actually want to do, or give yourself a break and go for a walk. If you’re burnt out because you feel like you have tons to do with no end in sight, then it’s time to do a couple of other things to help yourself.
Schedule in Time for Recreation and Sleep
Whenever I feel burnt out, it’s almost always because I’ve been spending too much time working and too little time sleeping or spending time with my family. That’s the case for a lot of people, so take a minute to evaluate how much and how well you’ve been sleeping lately, as well as how much time you’ve been spending with your family and friends. Then get a pen and paper out and map out a weekly schedule, including time for rest and relaxation—and stick to it!
Look at How Far You’ve Come
Finally, instead of looking ahead at the mountain of work you have to do, look back at how much you’ve already done. Really think about how much you’ve already accomplished, and you’re going to see that you have a lot less on your plate than you thought you did.
Along with reading financial freedom articles for inspiration when you feel down or burnt out, you can also find inspiration in these TED Talks, which have been compiled for people in your situation. And, if you feel like you need more help structuring your business and finding success as a house flipper, check out one of our Success Path financial freedom training seminars near you.