Staying Motivated & Avoiding Burnout When Property Investing
One of the really difficult things about investing in property or anything with a long term payoff is staying motivated and avoiding burnout.
In this episode me and Ben Everingham talk about how we stay motivated and how we take action even when we aren’t motivated. We also discuss how we cope with burnout and try to avoid burnout.
0:00 – Introduction
2:08 – Automate as much as you can
6:55 – Tracking action steps and progress
8:45 – Focus on one thing at a time
11:15 – Have a clear strategy
14:20 – Managing burnout
17:15 – 10/10/10 Rule
18:00 – Forgiving yourself + self love
19:50 – Life moves in seasons
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yeah. These are the perks of working for ourselves as you can kind of like why you’re here how you want, wear the clothes that you want. I remember like looking back at old videos, I tried to wear a suit
saying them and I love them. Okay, let’s
get started. One of the really difficult things about investing in property, building a business doing anything that’s like pay off in the long term is staying motivated and avoiding burnout in the process. And before me and Ben started recording today, I was just talking to him about how I’m working on my business at the moment, everything’s working, I know that it’s gonna get me to where I want to go, everything’s right on track. But it’s like, I’m not getting instant gratification from the work that I do. It’s like 123 years down the line. And sometimes it just makes me exhausted, like, I gotta get up again, write more articles. And the same is true for investing in property is that you’re doing this for long term savings deposit takes ages, buying a property and then actually seeing the returns of that property feed back into your lifestyle takes even longer. And so how can we avoid this sort of burnout in our lives? How can we stay motivated towards this when the result is so far down the track? So yeah, so today, I got Ben from Pumped on Property with me to kind of talk about this because I mean, he has gone through burnout multiple times in our life, and lack motivation. And you know, we’re both on our way.
I felt like I was literally burning out last time we did our conversation. And then today, like a month down the track. I’m super excited again. So I think that’s just the ebb and flow of every human right. Like we all have that same experience of like, super excited, passionate, motivated, doing all the stuff that keeps us in flow. And then the next week, eating shit food, having too many beers, and you know, losing the track of it.
Yeah, totally. And like I, I guess one of the things like I’ve found that’s helped me is doing things in sprints. So I guess a couple of big things that have helped me to stay motivated, is okay, how am I gonna frame this, the biggest thing is just automating as much as you can. So when it comes to like saving money, when it comes to investing, or when it comes to building a business, it’s like, whatever can be automated to get you there without you really putting in any conscious effort, I think, really helps. So the idea of paying yourself first is probably the biggest lesson that I’ve learned when it comes to paying off debt, saving and deposit investing for the future. And that’s the idea that you take a certain dollar amount of your income. And as soon as you get paid, that dollar amount goes towards debt reduction, saving or investing, and that just happens automatically. And then you have to live off the rest and that automation just means Okay, even if I’m not super passionate about investing today, if I’m not keen to get on real estate Comdata you and look at more houses, I know my deposits getting saved or I know that I’m saving up for the next one like it’s happening automatically. And I know you do a lot of that in your life too.
Yeah, it’s so interesting that you say that cause about a year ago Luckily, sir organized the really expensive renovation on our home and it basically drained my cash account for investing to zero. In terms of driving
you insane driven you insane.
Remember a lot like at one point last year, I’ve got into like a big spike in motivation. That was because like I had savings for a buffer, but not for investing. And that’s when we had like that really good quarter because I’m like, I’m back in the game. And I was like saving
money because this happens with both of us, right is that we kind of put ourselves in positions of like strife or difficulty. And then we just get a fire under our belt. He was super motivated. And we just like make things happen. Like a year ago, I was nearly bankrupt. Right? And so they got a fire under my belly. I’ve been working so hard for the last year, go back three years. I was like financially through through my businesses. You couldn’t even get me on a call to like record an episode. I was like, No, no, I’m at the beach today.
I was trying to hit you out like once a fortnight to catch up and hang and do recordings. And you’re like, Man, I’ve got so much money coming in. I’m just not. And I was like,
I wanted on a diet. I was gonna keep going with this. We still
we still did it. We still did it every now and then i don’t think i think in the last like four or five years. I’ve missed like one or two months of releasing videos. So otherwise every month I have but but yeah, okay, back to automation.
So you know what, where that got me to was exactly like you said, I’ve always paid myself first for the last 10 years. Just you know, if I was earning 600 bucks a week I was paying myself whatever I called out of that. Now that I’m earning a bit more I pay myself a bit more and what I’ve done that last year is i haven’t really noticed this account but all of a sudden i’ve got enough in there now for a deposit for my next property and you know rather than rushing out and buying that property i’ve looked at my current portfolio and i’ve gone or i’ve got a place that could add i could add a granny flat to or a tiny home to so use some of that money for that i’ve also got a place that needs a renovation to increase the yield and i’m just bought a piece of land that i’m building on and so it’s like i wasn’t stressing out about buying because exactly what you said the process was so automated to save it was only when i had enough money in the bank that i went on now now what’s the best use of those funds again
yeah and you’re happy saving throughout that process just because you don’t have to think about it right
completely like i didn’t have enough money to do anything so what’s the point of wasting energy out in the future thinking about how i could spend what i don’t have yeah i was just like okay let’s be present let’s go through the ups and downs of your mental health let’s just hang out with the family and now i’m ready to go again i’ve had this really nice like you said like i had a big burst last year of the renovation and building another place taking a full year off now i have three month burst and building this home and this granny flat and then i’ll probably chill out for another six months and recover lick my wounds again and then think about what’s next in a year or so is time
yeah so i think automating is really important just so that even when you’re down in the dumps even when you’re not feeling motivated you’re still moving towards your goals and you’re still getting there so i know you’ve got pay yourself first soda why because i run my own business and my income fluctuate i do a percentage of income that comes in from the business so percentage of revenue just gets put aside and then i’ve got to run the business and live off the rest so that’s how i do it but people with a more regular income can usually do a set amount each every month or fortnight or week however they get paid and do that i think being president is really important and we’ll come back to talk about that but something that i find really helps me is tracking things and so tracking both the action steps that i need to take i think that’s probably more important but also tracking like how i’m going towards my goals as well but i think tracking the action steps rather than tracking the results because the results are going to take so long right whether it be saving a deposit or growing your business buying a property paying off that property and it’s also kind of mapped out like you know if you own a property and you’re paying it off every month for the next 25 years you know how that’s gonna go down like yeah it’s been speeded up a bit but tracking the actions that you need to take i think can help motivate me so for me like in my business it’s like okay i need to write this many articles per month this many per week and so i track that in a spreadsheet i got to nerd out got my spreadsheet and so then each and every week i’m aware of okay i need to write 10 articles this week and how am i going and so if i have a really good week and i get ahead that’s great if i’m falling behind it’s like okay well i’m gonna have to work sunday now in order to catch up on that but tracking that it both gives me anxiety when i’m not up to my own standards that i’ve made up and set for myself but it also helps me to stay motivated and it helps me not to stay motivated but to put in the work even when i don’t feel like it like i would rather be swimming at the beach you know but it’s like i’ve got to get those done and so okay i’ll just i’ll do it so i can tick the box in my spreadsheet that said i wrote enough articles this week
you know i’m a huge tracking man i think that’s one of the reasons why we get on so well like i track expenses i track income i track business activity and i track property activity and i’ve done that for 10 years like i just i really enjoy that stuff i used to just do it on my notes on my phone now i do it in spreadsheets as well and i think you know going on from tracking the other thing that i’m really good at that i think that helps keep me level and keeps me focused is just focusing on one little thing at a time now when i started this man i was all over the shop looking at different markets different properties units houses metro regional big blocks small blocks and it was just like constantly wasting my own attention and energy thinking about commercial super jewel income brand new you know existing homes and it was so draining and now i know where i want to be in the future which is six figures of passive income the same as yourself through my property business which is my just my long term hold properties but what i do is i just i know that’s where i want to be i know what i’m prepared to trade which is four days a week of my time to help myself get there and then it’s just what is my next step for that property what is my next step for this business and one moment at a time
yeah i think that next step so important as well because it can get overwhelming especially if you don’t own any property yet or you don’t have a strategy in place yet you know you can be pulled this way and that way you’re looking you’re researching and learning about different strategies at the same time you’re looking at suburbs and markets at the same time you’re inspecting properties and units and houses and all of these different things and so i think yeah just actually going slow to go fast but to say okay what is my next actual step and then focusing your energy on that and so if that saving a deposit or if that’s researching a market or looking at suburbs or if it is inspecting properties then it’s like put your energy and effort into that rather than you know be scatterbrained all about everything
it’s so funny man like because if i just think about how i used to be versus my latest purchase i knew for the last year that i was looking for a piece of land on the beach in brisbane i knew roughly what i was prepared to pay for it i just saved my money patiently waited when it came up i bought it then once i bought it i focused on getting the design right then once i had the design right i focused on getting my finance and it settled and now i’m focusing on building it and getting it rented out and it’s like one tiny step at a time but if i hadn’t done that 10 years ago i’d be trying to micromanage the builder try and do 10 things at once trying to design a house before i had a site and it’s just you know i find like as you said like slowing down to speed up is just such a powerful lesson that i’ve had to learn the hard way through being super impatient and wanting everything in the day that i want it
as well you’ve got the strategy in place now you’ve done this multiple times and so you know the steps in place and what has to happen and you know that things are going to happen in whatever order and so you know that okay yeah i’ll be able to sort out the design of a property in the build of a property i don’t need to worry about that now i know that i can work that out when the time comes and you know that that is ultimate leading towards your goal and your strategy and how you plan to achieve financial freedom through property so yes having that plan in place as well and knowing okay these are the steps to get you know to implement that strategy and to achieve my financial goals allows you to focus on what’s next complete whereas if you don’t have a strategy you can’t just focus on what’s next because you don’t know what’s next
i think that’s like the perfect segue into strategy like the number one thing that helps me sleep at night now and probably yourself even though the results haven’t come as quickly as we wanted is a strategy and a plan like you know that if you do this activity three years time you should be there i’m exactly the same it’s like if i buy this one property that rents for 40 grand a year today 15 years from now or rent for 50k and in 15 years time if i can figure out how to pay it off outright that one deals 50 grand and it’s like how many of them do you want
once it’s all right everything is mapped out for both of you and i whether it be business or whether it be property like we’ve mapped it out for years in advance we know how it’s going to play out if we do the work and if we you know pay it off or if we you know do what needs to be done we know if we do that here’s how it’s likely going to play out and there’ll be road bumps along the way obviously but basically we can sleep because we know okay as long as i put in the work today and do what needs to be done i know that in 15 years time i’m going to get there i know that in a couple of years time i’m going to be in this position and so it’s like knowing that because we have the strategy in place helps us to i guess take action even when we’re not motivated and helps us to i guess have those rest moments when we are burning out as well so strategy is super important you need to get clear on what your strategy is whatever kind of strategy that may be because then that allows you to focus on it allows you to learn about it allows you to take the next steps and to get good at implementing it as well and become a good knowledgeable skillful investor and so if you don’t have your strategy in place yet then ben and the team over pumped on property do offer free property strategy sessions so you can get on the phone to them talk about where you’re at talk about where you want to be if you’re not clear on your strategy they can help you look at multiple different investment strategies what’s going to best suit you to get you to where you want to be so that’s complimentary completely free and then after that strategy session if you want to work with a team at pumped on property and hire them till you find those properties you can do that or you can take that strategy and you can go out there and implement those next next steps yourself so to learn more about that go to onproperty com au forward slash strategy and you can work in a time over there that suits you but yeah get clear on that strategy super important what about let’s let’s look at burnout now because i guess we’ll talk about how do we take action when we’re not really motivated or when it’s going to not be fruitful 15 years in the past i mean until 15 years in the future like really we just we just we know we’re gonna get there and so we just kind of do the work really
yeah like managing burnout is so interesting bro i was having a really good convo with one of my best mates yesterday and it’s exactly where i saw myself 10 years ago and the conversation was really around his burnout he didn’t recognize that it was that though like and i didn’t know that there was all this stuff going on in his life until he told me about it but he was like i’m really They’re good at planning. And in my head, I’m like, No, you’re not. You’re really, really good at overthinking. And thinking that overthinking is actually doing anything for you. And I used to be so good at that, too, like cooking on to every single thought in my mind that my mind had for me, getting stressed about the future, getting anxious about the future, getting into my details, and you’ve seen me go through all that shit, man. And like, I’ll go through it in the future for sure. Again, it’s just like, learning how to manage burnout is really learning how to understand yourself better, and what the triggers are for you what the consistent thoughts are in your own mind what keeps you in flow, like I’m reading this book at the moment, untamed, it’s called, it’s looking amazing. And in the first few chapters, she talks about her battle with anxiety and depression. And she’s got this list of things that like make her feel good in the moment that are really bad for her in a week’s time, you know, like overdrinking. She says same sex. I don’t know if I agree that
she does such a thing as that.
She much bit like bad foods, you know, stressing out watching too many documentaries, like overworking being really anal. And I say, Dan, stop. And she’s like, these are things that make me feel good in the moment more control. But long term like that creates burnout. And so she’s also got this other list, which is, if you feeling this way, or when you’re feeling good, you meditate, you do yoga, you exercise, you have relationships, you take time for your tea, you sleep at all, you know, and like I was thinking about that, for managing my own burnout in the future, just knowing what’s good for me and making decisions towards those things. And knowing what doesn’t make me feel good that my mind is playing tricks with me on because like, when you’ve burned out really, it’s just your mind going Hell yeah, like that little like part of you has got hold and you know, that can just play for weeks for months for years for some people, and it’s like, taking yourself out of that objectively looking at it has been a really powerful way for me to like, think about this differently. Hey,
yeah, I think I’ve heard a similar concept by Michelle B, who’s another YouTuber, think she lives on the Gold Coast, but she talks about like the 10 1010 rule or way of looking at it. It’s like, how is this gonna make me feel in 10 minutes? How is this gonna make me feel in 10 months? And how is this gonna make me feel in 10 years? Or what impact is this going to have on my life in 10 minutes, 10 months and 10 years. And so that’s been, I guess, really helpful for me in just reframing the way I look at things, because sometimes, when I do get into those real slumps, and those burnout sort of states, I think, okay, you know, how am I feeling now? Or like, what’s, what’s this going to be like, in 10 minutes? What’s this going to be like, in 10 months? What’s this going to be like, in 10 years. And sometimes, sometimes that helps me relax, and to say, okay, like, in 10 years, I know, I’m gonna be fine. Like, if I just put in a decent amount of work, like, I’m gonna be fine in 10 years, so it helps to take the stress off. I think, like, everyone deals with burnout differently. All burnouts, a different, I guess, different for everyone. And there’s some, like, really extreme levels of it. And some just, you know, I’m not feeling motivated levels of it. One thing that’s been really helpful for me is just kind of forgiving myself for not being a productivity robot, basically. And not working every second of the day.
Just being kind on yourself, like and letting go of like, the need to, like do it all today. And you know, acknowledging that, if we have known what we’ve known now you just be like, dude, you’ll be there in 15 years. Yeah, take it easy in the last three, you know, domain, it’s all going to be fine.
And I think acknowledging that I’m an emotional human that my emotions flux and ebb and flow. And so some days I will feel really happy and productive. And other days, like, like, last week, I had a day where I just got nothing done. Like I was just completely emotionally drained, I was just dead. And so I just kind of I took that day, like I should have just taken that day and been like, I’m not gonna work today, I still kind of tried to work and then procrastinate and I felt bad and all working. Like that’s what I’m trying to do now is like when I need that rest to be like, Okay, I’m deciding to take this rest and to signing to actually do some like self love and may time and then I’ll come back to that later versus, I guess I’ve always approaches I should be working, but I’m not I’m just putting it off. And that flipping mindset helps me to relax more, recover better.
I love that name. Because sometimes when those emotions are heightened the time to like, figure it out is in that moment, but if you like to do what I’ve done a lot, which is stuff that back down and then like I’ll get to it on Friday, that feeling’s gone, but the energy is there and it’s kind of a I’m gonna take that with me for sure, man like that’s a really like cool way of doing that stuff. Like one of the best things that I’ve heard recently was from the Jim Rohn stuff plus my psychologist I’ve been saying and it’s around life being like a season and I love that concept like in businesses and investing There’s times, you know, where you go out and eat like you’re doing an undoing now, like you sow the seeds in spring for like the future summertime. But there’s, you know, nothing in the world works on this constant upcycle. But that’s the way that the modern world is supposed to go. You’re supposed to earn more grow, like constantly progress. And you and I both stepped off that model. But like the condition thinking is hard to like.
But that’s also because like the winter season sucks, man.
A winter. That’s exactly and there’s winter time, man, which is the time to recover and chill out. Yeah, you know, as well, I just like that analogy of just taking it easy on yourself. Like in your day, in your week and your year, there’s time for summer, winter and spring, you know what I mean? And it’s like, you end up getting to where you sort of want to be if you can take that pressure off.
Yeah. So I don’t think we’ve solved by any means the problem of staying motivated towards something that is so long term in the future, or sold, avoiding burnout along the way, because I think motivation will come and go, burnout will come and go as well. But for acids that automation, it’s the tracking, it’s just the consistent action, whether we feel like it or not, it’s the not getting overwhelmed. And just focusing on the next step is the enjoying the process, which we didn’t really get time to talk about, but just like act actively enjoy the process of it. So rather than think about, okay, in the future, in 15 years, I’m going to be on a beach somewhere, think about I’m really enjoying learning about property, I’m really enjoying learning about the markets and enjoying the process. Maybe that’ll be one for another video. But yeah, all those little things help. And you just got to find, I guess what works for you, right? Completely man, like everyone that’s different. But as humans, it’s the same universal choice, man. Like,
that’s the biggest thing I think we should finish on, which is what I’ve learned. And that is the process. And the journey is everything. And if you’re not content today, trust me, as someone that’s achieved everything you’re supposed to, you will not be content, when you get to that point, like enjoy this moment this day, like give this one year or make this one better for tomorrow. And you know, like it is a ride. Like there’s no reason why you can’t be sitting on the beach on Friday, either with your family. You don’t have to wait 15 years to do that. You know what I mean? passive income doesn’t change your life. You’re the identical person that you were the day before you had it. And that’s why I suppose 85% of people that win the lotto end up bankrupt within a year or two, they say, just like the same person between the ears, man, so you might as well fall in love with that person and do your best.
Yeah, and grow that person over time as you’re working towards it. Take the time to build into who you are, get better at yourself, you know, and build your skills so that when that time does come, you’re a better person at that point.
Without a doubt, I love it, man. Such a sick chat.
I’m getting deep. All right, well, that ends this episode. If you do need help getting that strategy in place, you can check out those free strategy sessions over at onproperty. com. au forward slash strategy you can learn all about that over there. It’s a you can book in a time it’s just a phone call. We can get on get clear about where you’re at and where you want to be. Because I know Ben you talk to so many people and they just they’re not clear on where they’re at. They’re not clear on Okay, what am I actual goals and where do I want to be? So that’s just so valuable. So go ahead, check that out. Otherwise until next time, stay positive