What aspects of your game do you want to level up? Want to learn more about creative financing? Finding deals? Putting together joint ventures? There’s no time like the present to focus on the parts of your Real Estate game that might be lagging behind. Instructional videos are a cost-effective way to accelerate your levels of knowledge.
3. Focus on How You Can Leverage Technology
Environmental pressure is the biggest driver of evolution. In the face of stress in the ecosystem, species adapt or go extinct. Technologically there is a giant leap forward going on. A year ago, very few people used Zoom or ordered groceries online. Today my parents in their late-70s use these services. The rapid advancement, adoption and deployment of technology is going to be a lasting aspect of the Covid-crisis.
How can you leverage or become proficient at apps or online services that industry leaders use? How can you use technology to become more efficient in business and in your personal life?
4. Audit Your Personal Habits
Are the choices you’re making every day hurting or supporting your health, energy levels and success? Maintaining a healthy routine is definitely made more challenging with gym-closures and lack of access to social energy. The home office is also dangerously close to the fridge.
Wake up call: the choices you make now will have lasting effects, either negative or positive.
Take 5 minutes this evening to scan your personal habits and see if anything needs a bit of correction.
On the flip side: are you open to “hacking” your personal habits with technology? WeightWatchers has an awesome app for tweaking (or overhauling) your diet. You can also get the most out of your home gym with a work-out app like FitBod. It adjusts daily workouts to your equipment and fitness level, levelling up as you get fitter. It’s also a great way to combine points 3 & 4.
5. Separate Enduring Changes From Temporary Ones
When mass-extinction events have taken place in the past, the species that have ended up with a bigger “slices” of ecological Real Estate are the ones who’ve managed to adapt. As we go about our (constrained) daily lives, try to identify the trends that are going to be long-lasting.
Perhaps tenants- and home-buyers will continue to favor larger units as working- and training at home become enduring fixtures of the post-Covid world. Will the move to online education diminish the number of exchange students? How will this affect downtown rentals? Are the trends in the short term rental market likely to outlive Covid? What about the low-interest environment?
As you look into the medium-term future, do it with a mind to adapt to permanent changes, while not over-reacting to those that are not.