Have you started thinking about investing in real estate, or are you a seasoned investor in residential properties who is ready to take the next step into commercial real estate? You know that most successful people have a vision and goals. These tools help you gain your desires and remind you of your dreams when you experience challenges. Therefore, these are some questions you should ask when you develop your investment vision.

When You Look Back at Your Life, What Do You Want To Be Proud Of?

This is a pretty probing question. Do you want to have great children who make a difference in the world? Do you want to support nonprofits that address issues you have a passion for? Do you want to create an inheritance for your children? You need to determine what you believe success is. Figure out the impact you want to make in your life, the lives of your family members and society as a whole.

Start as if you need to prepare your obituary. What do you want it to say? Write down the key aspects of your life and then determine how investing in real estate can help you achieve these milestones.

What Would You Do if You Had Enough Money To Do Anything?

If you earned a passive income, what would your life look like? Would you volunteer more, travel the world, help others, build businesses, etc.? Identify what your ideal life looks like. Figure out if you would still work for someone else or go to school to pursue a different career. You may intend to make investments your sole occupation, consistently searching for new properties to invest in. You could even become a mentor to help others achieve their goals.

The key is to write down what you hope to achieve and what you would do when you got to a place where you didn’t have to think about money.

Why Do You Want To Invest in Real Estate?

This one may take some time. You may need to conduct some research to determine how you think real estate investing will help you achieve your goals. Your goals need to be achievable, so you cannot start out thinking that a few investments will give you ultimate freedom. Investing is a process and will take time. It may also mean that you have to tighten your belt for a while until your properties become more profitable, so you should understand why you want to invest.

Whether you plan to invest in residential or commercial real estate, you need a vision that will guide you and keep you motivated when times get tough.