Tuesday, May 25, 2010

Use Olympic Swimmer Michael Phelps' Training Habits to Supercharge Your Real Estate Investing

In his quest for a record 10 Olympic gold medals in swimming, Michael Phelps trains to win. After watching Michael Phelps' training routine, I realized that real estate investors can utilize his techniques too.

The keys to Michael Phelps' training are:

1. Prioritize the Day

Michael Phelps has every minute of his day scheduled. Not one second is lost. Phelps is either swimming, eating, or resting. He always knows what he must do.

One way for us to be prepared to do what we must do, is to rise early and to plan our day. Make a list of things to do. Number the list with number one being the most important item to accomplish today. Then take your list with you and check off each item as it is accomplished.

2. Fuel for Work

Elephantine quantities of food are Michael Phelps' fuel. According to Phelps, for breakfast he eats, 3 Sandwiches of fried eggs, lettuce, tomato, cheese, fried onions, and mayo. One omelete, a bowl of grits, 3 slices of french toast with powdered sugar, and washes that down with 3 chocolate chip pancakes. Phelps goes for quantity, not quality.

Our fuel is what we feed our brain and our spirit. Focus on real estate books and also on books that inspire you to achieve greater heights.

I am presently reading "A New Earth" by Eckhart Tolle, a book that inspires the mind to examine life in a new way. I like Tolle's observation that we categorize the things that happen to us throughout the day as either "good" or "bad". Yet Tolle points out the what we perceive as "bad" can actually lead to see the interconnectivities of the universe, in other words, to see the bigger picture.

3. Focused Effort

Michael Phelps doesn't practice swimming all day long, he goes in spurts. Like Phelps, we should devote different times of the day to different tasks. For example, my day consists of:

-5:00 am: walk the dog and collect my thoughts in the fresh morning air

-5:30-6:00 am: read informational and inspirational material

-6:00-7:00 am: write articles and work on books

8:00 - noon: work day job

noon - 1:00 pm: deal with REI issues, make phone calls, pick up mail at PO Box, go to bank, visit properties that are for sale

1:00 - 5:00 pm: back to day job

5:00-9:00 pm: time with family

9:00-10:00 pm manage blogs, websites and email

On weekends I can spend a little more time with my real estate business.

4. Make Time to Relax

Phelps, like many young adults, spends large chunks of time playing video games. That's how he relaxes. I relax by going for walks, reading, and spending time with my wife and kids.

Don't push yourself too hard. Enjoy the life you have for someday it will be gone. Don't be caught unprepared like William Soroyan, who said, "Everybody has got to die, but I always believed an exception would be made in my case."

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