If you are a real estate investor for any length of time, rest assured that you will make mistakes. It’s not the mistakes themselves, but how you handle the mistakes that will ultimately have a profound effect on your business. If you dwell on these mistakes they will leave you frozen with fear, and you will never be able to move forward. If you want to be successful over the long term, you simply must get over the fear of messing up.
The Learning Process
Successful real estate investors know that mistakes are just part of the learning process. They learn from each mistake and move on. In fact, most successful investors will tell you stories about the mistakes they have made as quickly as they will brag about their successes.
My local REIA group used to have one meeting every year where folks got up on stage and tried to win an award for the “Best Deal” and the “Worst Deal” of year. Read the rest of this entry →