How to Stay Motivated as a Real Estate Investor
You have likely heard the common saying, “I’ve had more failures than successes.” This phrase is usually uttered by an individual who has demonstrated enormous success in the face of multiple failures, hard opposition, or enormous odds. People often ask how that person has the will or the determination to keep going despite the resistance in their path?
A lot of success in real estate investing comes down to the will to succeed regardless of the current circumstances or situation. Enormously successful people anticipate bad deals, financial struggles, everchanging shifts in the real estate market, or even things as simple as being in a stressed-out, bad mood. When you are experiencing these things, how do you stay motivated? What do you do to keep your edge?
Ignore Your Feelings, Keep Working
It seems that for many people, the starting point of their success is believing in themselves. But what happens on days when you don’t believe in yourself? What do you if your morale is low or you lack confidence in your abilities? In those moments, the best thing you do is to keep working. Actions speak louder than words. They also speak louder than feelings.
The next time you lack motivation or confidence, get up and work – even if it’s menial work, something just to get the blood and the brain flowing. One of the best ways to stay motivated is to feel like you’ve accomplished something at the end of the day. Feelings and emotions will pass, but your work produces results.
Surround Yourself with Positive People
Even the strongest minds can wear down if surrounded by negativity or destructive thinking. People who are indifferent to your success or are determined to bring you down will eventually succeed if you expose yourself to their bad vibe for too long. So, limit the amount of time you spend with negative people.
Instead, invest your time and energy in people that will elevate your mood and motivate you to get to the next level in your business. Hang out with other investors who are smart and driven to succeed. Choose business partners that problem solvers and not whiners. Who knows, those overly positive people that used to irritate you may start to make sense.
Manage Your Time and Your Tasks
Your inability to manage your time may be the very thing that’s killing your motivation. Poor time management leads to stress, longer work hours, less money, and missed real estate deals. Try to create a schedule and take the necessary steps to stay within it. Remove distractions that taking up your attention. Also, learn to say no and prevent yourself from over-committing.
Managing your time gives you more time to do more things. It also creates space for personal time or fun with your family. Managing your time is the secret to managing your life. Things begin to fall into perspective as you prioritize and organize your daily life.
Celebrate Your Victories
It is true that successful real estate investors are always looking at the next deal before they can process the deal they just made. However, you owe it to yourself to celebrate your biggest victories. There’s nothing wrong with having a night out to reflect on your first real estate deal or your biggest success so far. Relish in your success and give yourself a reward. You’ve earned it.
When we allow ourselves to celebrate our success, we validate the hard work and dedication we’ve put into our business. Careful, though – don’t celebrate too early. Make sure the deal has gone through, and the money is in the bank before you congratulate yourself. When you decide to celebrate, make sure you have something to celebrate.
Learn from Your Defeats
Even the best real estate investors fail from time to time. A botched deal can make you feel inferior and kill your confidence. You may feel like drawing the curtains, locking the door, and burying yourself under the covers. However, your greatest teacher will always be your failures, not your successes. Sometimes success can make you weak. It’s only through failure that you become stronger.
So, when you do fail, ask yourself, “What have I learned from this? How can I improve? Getting emotional or quitting doesn’t solve problems. Analyzing your last failed deal to identify issues you need to address does. So, the next you royally mess up a deal or things don’t go your way, look at the situation critically, make the adjustments and move on.
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