Real Estate Investing Basics

3 Words of Advice for New Real Estate Investors

Expertise: Landlording & Rental Properties, Real Estate Marketing, Real Estate Investing Basics
51 Articles Written

Last week I had the pleasure of speaking with a work at home mother of 2 young children who is brand new to the real estate investing game.  Within 10 minutes of speaking with her, I learned that she had completed 4 wholesale deals over the past few months….and while that is impressive, what is even more awesome is that it was just recently in November 2009 when she first heard about wholesaling as a way to get started in real estate.  Talk about a woman of action!

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I won’t elaborate on our entire conversation, but she seemed unaware of how significant this accomplishment is.

She’s clearly a high-achiever who is just focused on doing her best and forward relentless motion, but I think we all have to agree that she has accomplished something special.  How many people research and research and read a course and another one and another one before ever taking any steps forward — much less completing 4 deals within the first few months?!?

All of this brings me to my 3 words of advice for new real estate investors.

Acknowledge Your Successes

If you don’t acknowledge your successes the same way you acknowledge your mistakes, you’re sure to have a memory full of blunders. ~Jack Canfield

It’s so important to train your brain to acknowledge your successes, both large ones and small ones. Why?  Because it reinforces your goals, helps you stay focused on the prize and persevere despite obstacles, plus it gives you hope that you’ll actually reach your desired destination (which you will if you persist!).

This is actually one of the main reasons I started a blog a couple years ago.  I wanted to openly share as I took steps forward…and some backwards…and then forward again!  You don’t need to start a blog as a new investor, but you should definitely keep a written daily log that acknowledges each success.  Take a few minutes to reflect on it. Don’t always keep it to yourself either!  Share those successes with others around you when you have an opportunity.  Not only does this help you, but you’ll inspire someone else.  Whenever you’re facing a setback and can’t seem to remember all the positive momentum you’ve gained, you can always go back to that log as a reminder to persist.

There’s another side to this as well which I learned this from Og Mandino’s book The Greatest Salesman in the World.  It said:

Never allow yesterday’s success to lull you into today’s complacency — forget the happenings of the day that is gone (whether good or bad) and greet the new sun with confidence that this will be the best day of your life.

So yes, acknowledge your success at the end of the day but be careful not to get comfortable and ride on that success for the next few days. You put out some bandit signs.  You put an offer on a property. Great!  When the sun rises again the next day, go do another 2 or 3 things key things to move your business along.

….and don’t forget to enjoy the ride!

Image: csitscenter

Shae Bynes is a real estate investor in sunny South Florida. On her blog, GoodFaithInvesting.com, she provides helpful tips and an inside look at her...
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    Jay Castillo
    Replied almost 10 years ago
    Hi Shae, thank you for this, I especially like what you said “Not only does this help you, but you’ll inspire someone else.”. I believe this is a good way to pay-it-forward to the next beginning investor. .-= Jay Castillo´s last blog ..Time to outsource my title transfer =-.
    Shae Bynes
    Replied almost 10 years ago
    Hi Jay, thanks! I absolutely agree….I always tell people that no matter where they are in this business, they have something to give. There is always someone who has done even less than you who would be anxious to learn from you and be inspired by you. .-= Shae Bynes´s last blog ..The Greatest Salesman in the World (Book Review) =-.
    Peter Giardini
    Replied almost 10 years ago
    Shea, this topic of your article is “evergreen” in nature. Allowing ourselves to ackowledge our successes is something most of us never get! Why… because we are our own worst critics. Too bad this article couldn’t be made sticky because it is that important. Pete
    Shae Bynes
    Replied almost 10 years ago
    Thanks Pete! Even though I targeted my words towards new investors, I think its relevant to everyone regardless of experience level because of the point you made so clearly…we’re our own worst critic! .-= Shae Bynes´s last blog ..The Greatest Salesman in the World (Book Review) =-. Reply Report comment
    Shae Bynes
    Replied almost 10 years ago
    Thanks Pete! Even though I targeted my words towards new investors, I think its relevant to everyone regardless of experience level because of the point you made so clearly…we’re our own worst critic! .-= Shae Bynes´s last blog ..The Greatest Salesman in the World (Book Review) =-.
    Shae Bynes
    Replied almost 10 years ago
    Thanks Pete! Even though I targeted my words towards new investors, I think its relevant to everyone regardless of experience level because of the point you made so clearly…we’re our own worst critic! .-= Shae Bynes´s last blog ..The Greatest Salesman in the World (Book Review) =-.
    Tyisha G. from Long Island, New York
    Replied about 4 years ago
    Peter, you said that absolutely right and I could not agree myself. All throughout my life, I barely acknowledge my successes the way I should…so critical. While I was reading the article I was thinking, I wish there was some way I could put this some where I can see it daily. A “sticky” would be awesome. Shae, Thank you for sharing this article!
    Rachel Aka Mobile Home Gurl
    Replied almost 10 years ago
    Nice article, Shae! It’s always nice to hear the successes of others. And, you’re right – successes whether they be big or small are successes either way. I think some people get caught up in the large successes – I’m a firm believer that the small successes are the most important as they form the building blocks for the larger ones. Regarding success, one of my favorite quotes: “Success is a journey, not a destination.” I think it’s the journey that truly makes it worthwhile. And, the journey is where the story lies – that’s what makes it interesting. I enjoyed reading your article, thanks for sharing!
    Shae Bynes
    Replied almost 10 years ago
    Thanks as always for your comments, Rachel! The journey is where the story lies….love that! Hope you’ve enjoyed your holiday weekend! .-= Shae Bynes´s last blog ..Freedom! =-.
    Esi
    Replied almost 10 years ago
    Hi Shae, Thanks for the mention. Appreciating my successes and what i can achieve, helps me bounce back from perceived failures. Great article, you are the best.
    Shae Bynes
    Replied almost 10 years ago
    Absolutely, Esi! Glad you enjoyed the article and wishing you continued success with your wholesaling business! .-= Shae Bynes´s last blog ..Freedom! =-.
    Larry
    Replied about 2 years ago
    This is information that is evergreen as said above but one of the most important part is to never rest on what was done yesterday. Each day wake up and realize that you’re an investor and look forward to the big deal that will happen and that could be today!