Real Estate Investing Basics

7 Daily Habits of Real Estate Investors Who Seek Financial Freedom

Expertise: Personal Development, Real Estate Investing Basics, Business Management, Mobile Homes, Real Estate News & Commentary, Landlording & Rental Properties, Mortgages & Creative Financing, Real Estate Marketing
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You consistently think about real estate investing, talk about it, and even occasionally dream about real estate investing activities. When you are not with your family, you're researching leads and working on your marketing. When you are with your family and friends, you’re still mentally distant, thinking about tenants, sellers, and other real estate investing activities that need to get done.

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Are you ready to use real estate to start down the gradual road toward financial freedom? There is certainly not a single answer. The list below will give you a glimpse into habits you'll want to adopt if you choose this path.

7 Daily Habits of Real Estate Investors Who Seek Financial Freedom

1. Decide and conquer.

Focus, focus, focus. You, the person reading this, are a gifted person with many talents. However, you still have a limit as to how many things you can do successfully at one time. Real estate investing is no different. Choosing a real estate specialty to focus on and dominate in your desired market will allow you to put your energy and daily action towards helping one group of sellers.

Pro Tip: Be loud and proud. Make sure to network with other real estate investors to find out what they do, and inform them of the properties you are looking for. You can always partner or wholesale unwanted leads you get to investors with other areas of real estate expertise.

2. Make incremental improvements.

Aim to not make the same mistake more than one time. At the end of each week, write down all the successes and failures of the week. Mentally walk through each day with an open mind to objectively point out what actions have produced results or continue to waste time and money.

Pro Tip: Always be reading and continuing to educate yourself. Consider joining or forming a book club with other like-minded real estate investors and entrepreneurs.

book-business-partners

Related: 4 Toxic Habits That Sabotage Even the Most Promising New Investors

3. Keep your eyes on the prize.

It is too easy to let hours pass by without being productive. These hours turn into days, which turn into weeks and longer. The real world oftentimes has a habit of distracting us from our long-term financial goals and ambitions. For this reason, a prudent investor may write down and hang up a list of weekly/daily must-dos. Hang this physical reminder around your home and office to help keep you on track.

Pro Tip: Motivate (or guilt) yourself into consistently producing results. Post reminders, quotes, and pictures of goals and achievements you wish to attain through your real estate investing all around your home, office, and car—a dream board everywhere you go. However, also make sure to include the custom list of action tasks to perform daily to help grow and maintain your investing business.

4. Consistently advertise.

When does the advertising stop? With enough time and data collected, an investor will begin to see which advertising methods work better than others. You’ll be able to work out how many dollars spent on advertising equal what specific profit from real estate deals closed as a result of that advertising. For many investors, advertising and marketing is a consistent and ongoing necessity of the business.

Pro Tip: Multiply your efforts by partly outsourcing advertising and marketing when possible.

5. Outsource.

We all have the same precious amount of hours each day. There are certain things you can outsource with the help of technology, but other things need to be outsourced to actual human beings. These workers can be local or based in another country, depending on their role within your company.

Outsourcing costs money. Depending on your specific investing niche and strategy, you may be able to outsource:

  • Advertising and marketing
  • Screening sellers and buyers
  • Presenting offers and negotiating
  • Closing and paperwork
  • Repairs and maintenance
  • Management and evictions

Two colleagues giving high five in meeting. Business people celebrating success in conference room.

6. Be a sponge.

Consider joining a local real estate investment club. Still, hold onto your wallet closely, as some real estate clubs are more about selling you programs as opposed to providing quality content. Additionally, listen to podcasts that interest you and use BiggerPockets to learn more and ask questions.

Pro Tip: Aim to ask a minimum number of real estate-related questions daily. Asking questions and gaining answers from knowledgeable folks in the business is a great way to network and grow your knowledge.

Related: The Simple Everyday Habit That’s Changing My Business, Relationships, & Life

7. Take daily action.

Nothing happens without action. As explained above, aim to have daily clarity on your everyday must-do list. This list may include calling and seeing sellers, buyers, owners, advertisers, real estate agents, brokers, clients, etc. These calls, appointments, offers, follow-ups, etc. all need to happen within your already busy day. Plan when to take action daily and aim to not burn yourself out with too much work.

In conclusion, always remember why you began your real estate investing career in the first place. It was most likely to be able to spend more quality time doing things you love and enjoy. This may include spending time with your family and friends.

Real estate investing is absolutely a journey and rarely a destination. Always aim to love and appreciate your family and friends daily while on the path toward financial freedom.

What habits do you practice daily on your journey towards financial freedom?

Let me know with a comment!

Investing since 2002, John started in real estate accidentally with a four-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to...
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    Christi Hawkins from Columbus, Ohio
    Replied almost 3 years ago
    Great post!!! Thank you for sharing
    Jimmie Adams Flipper from Conway, ARKANSAS
    Replied almost 3 years ago
    Nice Tips John Thanks! Now I just have to remember to put all these into practice daily. Nice tips John now I just have to remember to put these into practice DAILY!
    Juan Rosario Flipper from North Chelmsford, Massachusetts
    Replied almost 3 years ago
    thanks for sharing
    Douglas Fedele from Cherry Valley, California
    Replied almost 3 years ago
    Way to go, John…Eye of the tiger, baby!
    Jessica Westerfield from Irvine, California
    Replied almost 3 years ago
    I really love this post- great tools for success!
    Bobby Cornelius from Mesa, Arizona
    Replied almost 3 years ago
    Thank you John. This was a great insight for me as I am a new investor in the Mesa, AZ area. I will for sure put these into practice. One habit I am currently doing every day is I try to get out of my comfort zone multiple times a day. Whether that is by taking a cold shower or talking to random strangers about my business, I have found that this tears down that wall of fear. I hope this will help someone else also.
    Jarrett Powell Real Estate Investor from Sacramento, CA
    Replied 11 months ago
    @bobbycornelius I've definitely attempted doing something similar. Have you read the book rejection proof? Great book about overcoming rejection by placing yourself in successively awkward situations. Great read if you haven't already gotten a chance. Thanks for the gem
    Julian Gonda Rental Property Investor from San Francisco, CA
    Replied 11 months ago
    Great post. It's reassuring reading something that reinforces the daily habits you are already currently working on. Still making the effort to cater to all 7 of these on whatever scale!
    Jarrett Powell Real Estate Investor from Sacramento, CA
    Replied 11 months ago
    This was a great post. Thanks for sharing. This reinforced one of my newest habits of time blocking. Though we love our family and friends, sometimes it's them that will distract us and pull us away from our goals. Time blocking ensures I get my tasks done in a timely manner by limiting all distractions and focusing on a single task during the designated period. I don't answer my phone, email, or social messaging notifications. Once the block is over, I can respond to all the missed messages. Hope someone else has experienced similar success with this technique.