In the mortgage business, things usually slow down in the last few weeks of the year. It's nice because it gives me a chance to reflect over the last year, see what goals I have accomplished and prepare my business objectives for next year.

This year I had some pretty aggressive goals - both personally and professionally. Personally I wanted to lose at least 50 lbs and be able to run a 5K. Well, since March I have lost 68 lbs and I can easily run 3 miles. I focused hard on my fitness this year and it really paid off.

Professionally I wanted to generate a minimum of $100,000 in residential loan commissions and break into commercial deals. The residential commission goal was achieved and in July, I closed my first commercial deal - an apartment building loan for a client in California.

The reason I tell you this is to emphasize the importance of goals. I'm a big believer in setting goals. I'm also a believer in tracking your progress on a monthly basis against your big goals. Sometimes I even track weekly. That way I always know exactly where I am and what I need to focus on. And focus is what creates momentum and profits!

Goals are important in every area of life but I think that they are essential for the real estate investor. Here are a few sure fire rules for success:

Set Specific Goals
Decide exactly where you want to go in your real estate career and make a written plan of how and when you will arrive there. The goals must be written, they must be specific and you must be committed to them to ensure success.

Make Your Goals Positive and Specific
Such as: I will buy a 3 unit apartment building by October 10, 2007 or I will have a net worth of $1,000,000 by July 30, 2007. Set goals in short-time blocks. I like to set weekly goals. Then roll them into monthly, quarterly and annual goals.

Commitment
After writing your goals, emotionally charge them by a special commitment to their attainment. I have a signed, framed certificate that has a certain personal goal on it. I look at it often and when I see my signature committing to that goal it really keeps me focused.

Knowledge is Power
Obviously before you get too involved in the real estate game, you need to have at least a fundamental understanding of the rules. There are a ton of resources out there today to help you gain the knowledge you need to be successful. Just make sure you choose your "gurus" well and don't get overcome by analysis paralysis.

Actionize Knowledge
Use the knowledge as you learn it. Talk to people who are successful doing what you want to do and absorb their financial wisdom. Utilize all those with whom you come into contact with to gain more knowledge.

Knowledge is the link between where you are now and your future fortune.