5 Reasons a Positive Attitude Makes Winners in Real Estate Investing
There’s some anxiety that can come from investing in real estate. While we absolutely believe it’s the best way to earn passive income, we’re not going to pretend it’s all a primrose path. It can be challenging, frustrating — and yes, stressful.
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Snags can be hit, deals can fall through, and things just simply might not turn out the way you wanted them to. For me, I have experienced many highs and lows as a real estate investor over the last 14 years. I have completed so many deals and invested in so many different ways, it is hard to keep count of them all. Looking back, I can say that there have been many, many more positive deals and positive experiences than negative. However, if you want to invest for the long-haul, you have to get used to the idea that at some point, the hill is going to get steep.
For investors that have gone through trials and tribulations, it can be all too easy to develop a cynical attitude about your investments. Maybe you start thinking about calling it quits or you really start to resent your property manager or that one property that keeps giving you problems. These are the hills I am talking about, and the steep part is that little nagging, negative voice in the back of our brains telling us it is time to fold the tents and call it a day.
But really, is it all that bad? A few setbacks aren’t the end of your investing career, and as easy as it is, I’m telling you: Don’t get sucked into pessimism. This is why.
5 Reasons a Positive Attitude Makes Winners in Real Estate Investing
1. You’ll attract more people to you.
Does anyone want to be around a negative person? Didn’t think so. Consider the kinds of people you meet at parties and social functions. There’s always that one guy who tends to talk about everything that’s wrong with the country, the economy, and just how bad everything is. No one wants to stick around that guy, let alone partner up with him. He’ll probably say he’s being a realist, but is that the kind of attitude anyone really enjoys?
Related: 8 Ways to Craft a Positive, Productive Real Estate Workplace Culture
No, we like optimism. It energizes us and attracts us. When we have positivity about our investments, it’s much easier to get other people on board — including lenders, partners, and other interested parties. Don’t underestimate the power in a good pitch and sending out good vibes.
As real estate investors, just as with anyone, we will become like the six people we most often surround ourselves with. This is nothing new, and I am not spouting some philosophy of my own. Jim Rohn, Zig Ziglar, and Tony Robbins have all told us many times the same thing. Who you surround yourself with will be the people that help shape who you become. As a real estate investor, would you not rather attract positive, motivated, uplifting people who will give you the right advice without constantly telling you what is wrong with your plan or why it will not work? Does it not make more sense to attract the right positive people into your life?
Don’t let negative Nancys into your life — ever!
2. You’ll consider more ideas and possibilities.
When you’re feeling down and defeated, you’re a lot less likely to be able to see out of your situation. It’s easy to feel trapped by your circumstances. Positivity helps us see possibilities. Stress closes things off and suffocates us — how many times has frustration caused you to shoot down an idea before you really thought it through?
Positivity gives things more of a chance and lets you get more creative with your investment strategies.
When you don’t allow yourself to get dragged down by setbacks, you’re going to be better equipped to bounce back and develop ways that will get you back on track with your investments. Recovery from setbacks is simply easier when you can stay in a positive mindset.
This is a powerful point that I want to make sure everyone reading really allows to set in place. What you think, you create. If you allow your mind to be trapped by negativity, especially past negativity that you CANNOT change and can no longer control, then you have very little chance of creating the positive change you need. As I stated earlier, I have been through just about every negative you can imagine as a real estate investor.
It has taken me years and lesson after lesson to finally learn that I cannot control the past or the future. I have to stay right in the present. No matter how steep the hill is that I face, I have to forget everything else and concentrate on the positive outcome I want in order to be successful.
3. You’ll stress less about the little things.
People who are determined to be negative really like to nitpick. Even when there’s nothing to complain about, they’re going to find something because they’re determined to be unhappy. Why anyone would want to live in a state of perpetual stress is beyond us — especially when choosing to be positive means you can forgo the impulse to micromanage and stress out about the small things that distract you from what really matters about your investments.
In the grand scheme of things, the deal you didn’t get doesn’t matter. There will be other deals. That unexpected maintenance issue is a pain, but it’s something that happens sometimes, and it’s also out of your control.
As an investor, you should be able to let your investments be passive. You shouldn’t have to worry about every detail of every day. Your focus should be on the big picture. A positive attitude will help you achieve that! I am always looking to handle whatever issue may come up right in that moment, and I’ll reflect later on what may have caused it. This little trick allows me to stay calm in the face of adversity and simply deal with whatever issue has come up without getting emotional and overreacting. Later, when I have dealt with whatever issue I faced, I find I am always in a better frame of mind to figure out how to prevent that same thing happening twice.
4. You’ll see opportunities as a chance to grow, not as failure.
Sometimes, we’ll get knocked down. We’ll make mistakes. Being positive won’t come easily, and maybe you won’t be able to. But having a positive attitude doesn’t necessarily mean being happy all the time. It has more to do with how you look at and respond to life.
When you approach your investments with a positive attitude, it means that setbacks — and yes, your mistakes — aren’t something that you beat yourself up over or something that makes you pack up and quit. It means that you see them as an opportunity to learn and grow. You can pick yourself up and come out the other side of it as a stronger, wiser, more savvy investor.
I certainly do not take solace in other people’s mistakes — and you shouldn’t either. But it should be comforting to know that many investors before you have made similar and worse mistakes. Many investors before you have had major problems come up on their investments unexpectedly. Whatever you may be dealing with, you can rest assured you will not be the first. I think a unique situation is going to be rare at this point!
Take solace in the fact then that there is a way back. There is always a solution. It may not be clear, and failure is only measured once someone gives up. So never give up! Always know that whatever is happening, big or small, if you stay focused and positive in the moment, you can climb any hill.
5. You won’t be defeated so easily.
More than anything, a positive attitude means gaining perseverance. Negativity is quick to call it quits when things don’t go as planned. A positive attitude? It believes in your potential. It strives to learn, to do, and to be the best investor on the block –come hell or high water.
I am passionate about this topic or thought process. Staying positive as a real estate investor takes a certain mindset at all times. It takes a belief in your own ability, as well as in the ability of your team. Your partners. The people that you seek advice from and listen to. If you are a solo flyer, well, your ability to stay positive is going to rest squarely on your shoulders. Either way, keeping a positive attitude about your investments is going to be critical to your success.
If you want to be a real estate investor in it for the long haul you’ve come to the right place! How do you stay positive when the hill gets steep?
Be sure to leave a comment below!