If you were to ask 10 different people right now how they think the COVID-19 pandemic will play out long term, you’d get 10 wildly different answers. Heck, if you were to ask them about what’s going to happen tomorrow or next week, you’d probably get different predictions too.
In times of extreme uncertainty like this, we all have a choice. We can choose to hide in a corner and wait to see what happens, or we can step up and prepare to seize the opportunities that arise.
“Focus your energy on what you can control right now. With so much uncertainty in the world, the only place where true certainty can exist is inside of you.”
– Hal Elrod, #1 International Bestselling Author of The Miracle Morning
To help you navigate the uncertainty, strengthen your mindset, and prepare yourself to seize the opportunities that lie ahead, we’d like to share with you a framework that our business coach, Trevor McGregor, shared with us – 7 key questions to ask yourself so that you can survive and thrive in times of uncertainty.
Related: The Passive Investor’s Guide To The COVID-19 Pandemic
Question #1 – What are you focused on right now, problems or solutions?
In the current situation, there’s a lot that we cannot change, a lot of things that are beyond our control. But one thing that we do have control over is where we focus our attention and our energy, and as they say – where focus goes, energy flows.
What that means is, if you focus on problems, guess what? Those problems will grow and worsen. But if you focus instead on solutions, those solutions will expand.
So, what should you do right now if you’re navigating financial instability and considering pursuing new investments, like commercial real estate syndications?
Start by figuring out what the problems are – the hurdles holding you back. Then, turn your focus to educating yourself and coming up with potential solutions.
“DON’T let coronavirus fears blind your eyes to some fantastic opportunities that will be popping up in the next few weeks and months. Remain calm, do your research, and don’t let your sound judgment get clouded by emotion.”
– Neal Bawa, Commercial Real Estate Expert and Founder of Multifamily University
Question #2 – What part of you is showing up right now, your superhero identity or your supervillain?
Just as you can choose where to focus your energy, you can also choose which part of you is showing up. This is true whether you’re leading a virtual meeting from your makeshift home office, trying to hold it together while your toddler has yet another tantrum, or vetting a potential investment opportunity amid a global pandemic.
In every opportunity, you can decide what part of you is showing up – your inner superhero or your inner supervillain. Your inner superhero is the one who will seize every opportunity, not letting fear stand in your way.
And just as you might suspect, your inner supervillain is the one who will try to sabotage you at every turn, tossing fear and doubt in your path until you bring about your own demise.
The good news is, you don’t have to be at the whim of whomever HAPPENS to show up at any given moment. You have the power to CHOOSE which identity shows up.
“In EVERY economic crisis point, there are many losers and a few spectacular winners. Those are the opportunity seekers and action-takers.”
– Monick Halm, Real Estate Investing Expert and Founder of the Real Estate Investor Goddesses
Related: Listen to our recent Investing For Good podcast episode featuring Monick Halm, founder of the Real Estate Investor Goddesses.
Question #3 – What’s the emotional home you’re living in?
Often, we go through our days on default, letting our emotions take over, just like in the movie Inside Out. We assume that our emotions are in control, that we are simply at the whim of whatever emotions happen to take over our inner dashboard that day.
But that couldn’t be further from the truth. Because the thing is, if you let your emotions control you, they will. But if you take control, you can CHOOSE your emotions.
So, what emotional home are you choosing to live in?
“We often feel like our emotions are beyond our control, but that’s entirely untrue. In reality, you have the power to change your mood, and you can do so in an instant. And it all starts with one simple thing.”
– Tony Robbins
Question #4 – What’s REALLY true?
It’s human nature to instinctively assign meaning to everything, to find patterns among the various data points and noise.
And evolutionarily speaking, this tendency to assign meaning can protect us from lots of things. Big paw prints in the mud probably means a bear is nearby.
However, in the midst of this COVID-19 pandemic, when there are SO many data points and SO much changing by the hour, you must stop and be mindful of what’s actually true, and what meaning you’re assigning to things.
“Can you benefit from uncertain times? Your perception is your reality, not actual reality. Because one person sees tragedy and misfortune, and another person sees opportunity.”
– Dean Graziosi, NYTimes Bestselling Author and One of the Top Real Estate and Motivation Trainers in the World
Question #5 – What frequency do you WANT to be in?
Every day, as you get out of bed and make the exceedingly difficult decision of whether to stay in your pajama pants all day (again), you have the chance to choose what frequency you want to be in that day.
If you choose to take it easy, take it slow, and see what happens, you might not be tuned in to the frequency that will allow you to best recognize and seize opportunities as soon as they pop up.
However, if you choose to operate at an optimal frequency, with your mind open, your senses turned on, and your vibration tuned in, you’ll be primed for those opportunities when they arise and be poised to live a meaningful and intentional life by design.
“At the end of the day, YOU are the only person who can decide what is best for you and your family. Do the work to get educated, analyze your deals, and do what you feel is right.
The reality is that 10 years from now, this crisis is probably going to be in the history books. It’s going to be like 2008 … something that happened and changed the world quite a bit.
But the long-term fact is that people will always be out there. They will need places to live. They will need places to gather. They’ll still need medical care and to eat.
Real estate will always fulfill a potential need. In the long term, smart investments remain smart investments. Real estate is about buying and committing and being in for the long haul.”
-The Real Estate Guys
Question #6 – Are you in expansion or contraction?
There’s no doubt that this is a unique time in human history. Never before have we had a global pandemic rip through our communities yet had the opportunity to continue to communicate and stay in touch with the world.
Whether you’ve lost your job and are considering a career change, have lost money in the stock market and are considering investing in real estate, or want to take a more active role as a real estate investor or syndicator, now is the time.
In the old days, you had to go to a physical library or college campus to take courses to learn new things or make sweeping life changes. But these days, you can do so with the touch of a button.
Many real estate experts are predicting that there will be incredible opportunities in the coming months. So, if you’re considering investing in real estate syndications, or if you’re thinking of syndicating your own deals, now is a great time to hunker down and educate yourself.
“You cannot become certain about everything in the world. The question now is, what can you become certain about? This is the time to educate yourself so you know when the opportunity arrives….This is the time to get curious, get a plan, and be ready when things change because they will.”
– Liz Faircloth, Real Estate Investing Expert and Founder of the Real Estate InvestHER
Related: Listen in to our Investing For Good podcast episode featuring Liz Faircloth, creator and co-host of the Real Estate InvestHER podcast.
Question #7 – Are you showing up in your higher self?
These days, it can be easy to take the easy route, to take your foot off the gas pedal, and to do the bare minimum to get by.
However, these are the times when you have the opportunity to step up and show up in your higher self. Rather than relying on others to light the path forward, you can be a beacon and lead others.
“Winter doesn’t last forever. Spring always follows. We will spring back to normal life, like we always do, like we’ve done for centuries. And when we do, will you be prepared? Are you trained for future challenges? I always say: The meeting of preparation and opportunity generates the offspring we call luck.
In every crisis lies opportunity. People who are successful are not lucky; they are just prepared for opportunities that come their way. Anticipation is power.”
– Tony Robbins
We’re all in this together. Remember that. None of us has a crystal ball, and we’re all in the midst of this uncertainty together.
However, even though there’s a lot of uncertainty out there, there’s still a lot that’s within your control, including your mindset, where you focus your energy, how you show up, and how you choose to spend your time.
It’s more important now than ever to stand guard at the door of your mind, focus on educating yourself, and prepare yourself to take advantage of the opportunities that come.
Here at Goodegg Investments, we’re always keeping an eye on the market and seeking out the best opportunities in commercial real estate. To stay in the loop on upcoming opportunities, be sure to apply for the Goodegg Investor Club.