How do the most successful real estate investors think about things differently?
Different outcomes and levels of success come from different approaches. The one percent does things much differently than the 99 percent. Rarely is it about being born spoiled. But it is always about mindset. Here are six common mindset characteristics found amongst the most successful that are worth thinking about.
6 Ways of Thinking That Determine Investing Success
This was my biggest personal mindset shift that paved the way for where I am now. You’ve heard it before, but it is the critical building block for everything else. Don’t just think about a little bigger than what you have right now. I am talking think on massive levels! How big can you think?
Emotions are good. What fun would life be without them? However, successful real estate investors learn to think objectively versus irrationally based on emotion alone. This is never more critical than in real estate, where there can be plenty to be emotional about on a daily basis and heavy costs and consequences for acting emotionally. Practice discipline and objectivity until they become your nature. Do the math before you act or speak out.
Plan for the Long-Term
The successful are always asking, “What can I do today to set myself up in the future?” They also ask, “Which choices made today will best empower my biggest long-term goals?” They tend to avoid short term gains to ultimately build up for the long-term successes and gains.
The successful don’t think in terms of “can” or “can’t,” but in terms of “how?” For example, it is not a matter of “I’d really like to buy my dream home or that new Tesla, but I can’t afford it right now.” Or “I understand that I must invest in real estate, but I can’t afford it right now.” No — they simply ask, “How can I?” Try it out.
Keep an Abundance Mindset
There is enough for everyone to have a share. Just because someone else makes it doesn’t mean you can’t make it, even if someone gets a deal you were in the run for. There’s plenty of inventory in this market for the buying appetite. There is still more inventory than all the major multi-billion dollar hedge funds can handle. Work from an abundance mindset, not a scarcity mindset, and you’ll find abundance. I does not require others to lose in order for you to win.
With such abundance in your life and future, how can you not be ultra-generous? Be generous in proportion with the abundance you expect in your life, with your grandest thinking, and beyond the level you would appreciate others being generous with you. Be generous with your time, knowledge, finances, and more.
Any other traits you’d add to this list?
Be sure to leave a comment below!