How to Adopt the Real Estate Investor Mindset
The real estate investor mindset involves more than just transitioning from the 9 to 5 grind to the entrepreneurial lifestyle. It requires a focused and dedicated mindset that is consistent even when things aren’t going your way. Anybody can become an investor. However, what separates the true professional from the amateurs lies more in what you think than how many deals you can land.
This is especially true if you are a new investor trying to gain some traction in the market. In the beginning, you will make a lot of mistakes and probably face some grim realities. However, if you adopt a strong real estate investor mindset and are determined to succeed, you can carve out your future in real estate investing. Let’s look at the investor mindset and how it can work for you.
Work Smart, Not Hard
It’s already a given that you will be logging in the hours growing your business and landing your first deal. But remember, you got into investing to create more time and space for you and your family. As an investor, you are compensated for what you produce (the deals you complete), not your time working on a project.
So, you need to get out of the employee mentality, where you’re working 8 to 10 hours a day, and learn to work smarter and more efficiently. Whether a deal takes five days or five months, you are not paid for the amount of blood, sweat, and tears you spend on a project. Once you master this mindset, you’ll find yourself working with much more focus and clarity, freeing up more hours in the day.
Business Plans Must Be Action-Oriented
You’ve heard the phrase, The road to hell is paved with good intentions. Many business plans are just that: good intentions. For a business plan to work, it must convert into real action. It doesn’t matter how brilliant the plan or how well your present it. If the plan does not lead to action, it is a waste of time.
Don’t worry if you’re plan is not perfectly conceived. Things happen that will cause you to adjust your plan as you go. Instead of spending endless hours perfecting your strategy, lay the groundwork for your business plan and then hit the ground running. You will accomplish more with action than you will with your business plan.
Cultivate and Appreciate Your Network
Investors often treat networking like an episode of ‘Survivor,’ aligning themselves with powerful influencers while looking over their shoulder at the competition. Instead of badgering and abusing your network, the idea is to cultivate healthy relationships and show appreciation for others in your network at every opportunity.
In the beginning, it’s common to amass as many connections in your network as possible. While this is necessary, you’ll eventually discover that your network’s size isn’t all that important. Rather, it’s the quality of the people in your network and how each person is an asset in your real estate investment deals’ success. As such, you must develop healthy relationships over time through mutual trust and respect.
Visualize Success (Be the Ball)
One of the reasons real estate investors are successful is that they always assumed they would be successful before making their first deal. They never questioned their success. As an investor, you need to go beyond belief and transition into knowledge. In other words, don’t believe that you will be a success. Rather, know that you will be successful.
Instead of wondering if you will land the deal, take action and go through all the steps necessary to land the deal. Be intentional. Even if the real estate deal doesn’t go through, your mind is already on the next deal. You’re constantly working because you know that your first real estate deal will eventually come. You need to visualize your success and be the ball without wondering if it is possible.
Prepare for Success
Preparation covers a multitude of sins. For instance, there are days when your motivation or energy is low. Thankfully, your preparation for a meeting or negotiation the day before is what carried you through those days. When you prepare for success, you’re never surprised when it happens, even when you’re not always on your game.
Preparation involves commitment, knowledge, imagination, focus, self-reliance, and, above all, planning. Preparation also keeps you from getting burned out. You are far more likely to get the real estate deal you want if you prepare for every meeting in advance. Do your homework and due diligence, and you will produce the results you were expecting all along.
You Can Be Successful in Real Estate Investing
You can make your first $100,000 part-time in real estate through our real estate training system regardless of your current circumstances. You simply need the ability to follow our proven system and use the resources and tools available. How can you get started?
- Subscribe to our YouTube channel.
- Follow us on all social media platforms.
- Take advantage of our free content.
- Visit us at http://www.nhanlamacademy.com/.
- Stay current with blogs, podcasts, and articles.
Subscribe to our YouTube channel and follow us on all our social media platforms. We will be posting free content online regularly. You can learn valuable ideas on executing your business plan to achieve real estate investing results.
We’ll be posting free blog videos, free articles, and free podcasts that will get you on the right track to success in a consistent, sustainable real estate business.