Do you wonder what goes on in the mind of a successful real estate investor? What is it in their mindset and approach that has enabled them to be as successful as they are? Or how were they able to create a lifelong profession out of real estate investing?
While there is no one road to success, here are a few simple principles that can help you grow a successful mindset and reach your real estate investing goals.
1. Embrace failure and mistakes. It’s a given that you will make mistakes. All real estate investors do, and hindsight is 20/20. But if you dwell on mistakes and regret your decisions, you’ll begin to second guess and sabotage yourself. Instead, use the time you might have wasted on regret to determine where you went wrong and learn from your missteps. Look back just long enough to figure out what you can do to avoid the same problem next time–then vector forward with confidence.
Too much regret will not move your investments forward. As difficult as it may be, view your mistakes as an opportunity for growth, and you’ll find that they will actually help you in the long run.
2. Accept that you can’t control everything. Many of us go into real estate investing looking for the investment flexibility that it can offer, but it is vital to remember that even with that freedom, there are many variables not in your control. Focus on what you can control, and then work to turn the unknowns to your advantage as much as possible.
3. Stop worrying and live in the present. Worry is a natural habit, but you must remember that it is not something that will help your investments. It will only waste your time and energy. Besides, a lot of the things people worry about never come to fruition–they’re just recreational anxiety. If you want to be successful, don’t worry about what’s out of your control and stay in the present.
4. Take time off. This can be especially difficult to do if you tend to be a workaholic or have trouble planning effectively. But you must incorporate downtime into your schedule so that you don’t get burnt out. Overwork will backfire and keep you from making clear-headed decisions. It’s important to work hard, but it’s also important to work smart.
You can also use the time off as a way to reward yourself for all the effort you are putting into your job, rather than the successes at the end. You don’t have to take much time off, a simple change of pace to do something that you enjoy for an hour or two can be enough. This habit can help you cultivate a growth mindset by rewarding yourself for your hard work along the way.
5. Be open to constructive criticism. Not all criticism is bad, and listening to good advice is something that a successful investor should always be open to. Consider complaints and negative feedback, and use them to learn ways to improve your strategies and services in the long run. Your professional relationships matter, and this is a great way to show that you care and are willing to improve.
6. Comparison is a killjoy. It’s natural to look at others’ success and begin to feel inadequate. It’s possible that someone you know has more cash flow or got a deal that you were hoping to get. This may lead you to have doubts about yourself and your work. While there can be good things to learn from other people’s experiences, you must remember that someone else’s merits and successes do not take away from your own. Keep your primary focus on your own path forward.
7. Be proud of your work. As an investor, commit to services and properties that you can be proud of. Successful investors work to make sure that they maintain high standards for themselves, their business, and their employees. If you are proud of the services that you offer, are passionate about what you do, and maintain a purpose and positive mindset, it will shine through your work and help you gain success.
Here at High Return Real Estate, we offer turnkey real estate investment opportunities unavailable anywhere else and help our clients build passive income from real estate. We operate with total integrity and provide turnkey rental properties using fully systemized processes to create a safe haven for our investors.