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How to Invest Like You’re Irish

by Tracy Royce on March 15, 2014 · 0 comments

  
Invest Like the Irish

In the spirit of St Patrick’s Day, when we’re ALL Irish, let’s explore how we can learn from our shamrock-loving friends.

1) Be Lucky

There’s something to be said about having an upbeat mindset and positive expectation. Have you ever had a bad day, and ran into someone that just uplifted your spirit through their presence? Generally “lucky” people tend to be grateful for the ups and downs in their lives, knowing that each has produced a lesson, outcome, or path that made them cultivate something of value.

Did you know the term “luck of the Irish” supposedly came about in the late 19th century when some of the most prominent and successful gold and silver miners were Irish? The association with these amassed fortunes through mining led to the phrase we know today. Although, it can be taken in a condescending way, as if to say their luck, more than brains or brawn, was what helped them.

Whichever it was, there’s only one way to increase your luck: work hard, and work smart. By putting yourself in front of more opportunity, you’ll be given more chances to learn, improve, and close deals. Having an optimistic attitude transcends the lulls and frustrations that often come along, as well, and is infectious to those around you.

Related: Don’t Rely on Luck: A Lesson in Real Estate Investment

2) Invest With the End in Mind

If there’s an image that’s iconic to St. Patrick’s Day, it’s the pot of gold at the end of the rainbow. The idea that we can chase a rainbow, something intermittent, illusive, and spectacular and be rewarded with riches seems like the ultimate lifestyle. Sound familiar?

Hundreds of thousands of people in the US are all chasing the similar dream: invest in real estate and get wealthy. How many participants actually realize their dream, before the opportunity disappears? And how many realize what climate to move to to be around more rainbows? Point being, investing in real estate is a risk-takers gamble, and has to be approached with caution, if not premeditation.

If your goal is “to get rich,”  or “to live free, travel, and do whatever I want,” those answers are too broad-based. What does “rich” mean to you? $50,000/year in passive income for the rest of your life? $1 million cash sitting it the bank? Or just to get your first deal under your belt?

No matter what your goal is, write it down, and work backwards to see if it’s something attainable, reasonable, and actionable now. And if not now, when? Otherwise, you’ll be chasing illusions of grandeur and wondering what happened to them when they disappear. Better to do your due diligence, see where the opportunities lie, and follow through to a payday.

Related: Invest With the End in Mind

3) Be Fervent

The source of the nickname “the fighting Irish” is debatable, but regardless of actual origin, it has stuck. The character with arms raised, chin down, ready to brawl is well-known nowadays.

Mostly, the sentiment came from the fact that the Irish were very unpopular when they immigrants of the early 19th century arrived in the US. But, Notre Dame actually kept the symbol and title of the Fighting Irish, embracing the idea of the being an underdog and putting up a good fight to win. It embodies the idea of those who suffer from discrimination or had an uphill battle to be recognized for basic decencies. If you’re a real estate investor, you’d understand that most of the time you’re not thought of very kindly! But perhaps in your own life you’ve had to struggle to be in a position to buy properties, overcome great odds to own your own business, or otherwise surmounted nearly impossible obstacles to become successful.

The most important part is to keep going, with a sense of fervency. The more people you serve, help, and supply value for, the more you’ll realize your real estate investing goals.

A Happy St. Patty’s day from me to you! I hope the good cheer, determination, and luck of the Irish stay with you, cheers!

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