June 1, 2016 in Investing In Real Estate
In today’s article I go over what I think are the top 8 traits of successful investors.
Folks often ask me what I think the difference is in those investors that have success and those that don’t. I can tell you from experience that there are many reasons. However I think some of those reasons are more important than others.
I hope that honing these 8 traits of successful investors will make your success just a little bit easier.
Traits of Successful Investors
1. Successful investors refuse to be held back.
Whatever setbacks come their way, they just keep putting one foot in front of the other. They learn to be problem solvers early on and they take control of the things they can control. In this business, there are a whole lot of things that you cannot change or control.
This leads right into number 2…
2. Successful investors manage their mindset.
Things don’t always come up roses. They don’t always go as planned, and that can really mess with your mindset. There will be days when you want to stay in bed and pull the covers over your head.
Here’ the thing … no one can fix this problem except you.
It’s not always possible to control how things work out, but you can always control how you react. You are in charge of your mindset and your mood. Put together a plan for those inevitable days when you need a mind shift. Get outside and go for a walk, meet a friend for lunch or just take a drive. Do something not work related then go back to your office renewed.
3, Successful investors have consistent ways of doing things.
They have systems. They take advantage of free (and low cost) tools that are available to them. They also learn to master their time and their calendars.
4. Successful investors know their #1 job is marketing.
No matter what, the marketing has to get done first. They understand that if they don’t continue marketing when they’re working on a deal, they won’t have another deal in the pipeline down the road. That’s when the feast or famine cycle sets in
5. Successful investors have good people skills.
Let’s face it; not everyone is born with these skills but everyone can learn. Whether or not a motivated seller chooses you very often comes down you as a person or your personality. Learning to build rapport with each motivated seller you talk to will go a long way toward your success in this area. Practice really does make perfect.
6. Successful investors look always at the “big picture” when making decisions.
They know shortcuts rarely result in long term business success, and this is very true when it comes to your reputation. Think about how making a bad short term decision will affect your business in the long term. Sometimes it’s just better to suck it up buttercup.
7. Successful investors keep their word every time.
They always do what they say they will do. Nothing more to say about this.
8. Successful investors know when to walk away from a deal.
Some deals just need to die. Don’t try to take a bad deal or even a marginal deal and “make it work”.
Want More Success Tips?
Here are a couple more articles for you.
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