Six Habits of the Successful Investor
The keys to success in real estate, as with most endeavors, are achieved not in great big leaps and bounds but in small, positive actions and habits that are consistently repeated every day. That’s what all of the sports coaches will tell you if you are trying to become a professional athlete. The same applies to becoming a successful real estate investor. Listed below are some of the daily habits you can adopt to become a successful real estate investor.
1 – Dream a little dream every morning
Start the day with a clear vision of what you want and why you’re doing what you do. Spend some time answering the question, “If everything was exactly the way that you want it, what would your life be like?” Be detailed in your dreaming. Where will you live? What will your house look like? What kind of car will you drive? What will you do with your time? Will you travel? Where will you go?
2 – Set up a plan for your day before you begin
Figure out what you need to do each day to conform to your financial goals in order to obtain the lifestyle you want. Be specific with timeframes to start each task, what the outcome should be and how long you’ll work at each task.
3- Take time to obtain knowledge
Study the information that successful people make available. Make sure you are reading material that is relevant and helpful to your ultimate plan. Remember that the best help available to progress from where you are now to where you want to be is the knowledge you gain and the people you meet along the way.
4- Give back
Find ways to help people without any expectation of what you’ll get in return. Share your knowledge, time, and resources with others who need help. Giving to others without expecting to receive anything in return will help you gain more enjoyment from the effort.
5 – Follow your plan
It’s really tempting to run right out and take action with the first opportunity you come across. After all, action is necessary to make progress, right? While that is true, you really need to focus on the big picture and keep your end goal in mind. If the “deal” doesn’t move you towards your ultimate goal then you should probably pass on it. Your ultimate success will come by thinking more clearly about your direction, asking better questions about the opportunities, and identifying the solutions that will move you toward your dream.
6 – Connect with at least two new people each day
If you meet and get acquainted with just 10 new people each week, they should be able to bring you enough leads to fulfill your goals. Some of those people are going to need to buy properties. Some of them will have properties to sell. All of them can introduce you to others who can help you with your real estate goals.
7 – Recharge your batteries
Always make sure to get enough rest and relaxation. It’s very easy to get too caught up in the everyday rush of investing and forget about your energy levels. Take time to do other things with your family and friends. As you recharge your mental and emotional batteries, you’ll think clearer and make better choices.