5 Things You MUST Do to be a Great Investor

Being an awesome real estate investor doesn’t happen overnight. It takes years of building your knowledge base and honing your skills, and even then, greatness isn’t achieved by everyone. However, there are some common factors among amazing investors that have proven time and again to contribute to success. Incorporating some of these habits into your everyday life can help you become a great investor and reach your true potential.

Take Care of Yourself

First off, it’s important that you take care of yourself, physically and mentally. You’re not a machine or a robot, you’re a human who needs to eat right, get enough sleep, and enjoy time off every now and then so you can recharge. I know it sound weird, me using my real estate blog to remind investors to eat their fruits and veggies, but honestly, it’s all part of the bigger picture. If you want to be great, you have to keep yourself energized and focused. If you’re not taking care of yourself, you won’t be either of these things. So please, make your health a priority so that you can be on your A game while you’re working!

Read All the Time

Another good habit to adopt is to become an avid reader. People who read are generally more successful in life no matter what industry they’re in, simply because they’re gaining more knowledge with every book or article they open. It doesn’t even really matter what you’re reading, so long as it’s something that gets the gears in your brain turning. Still, it’s not going to hurt to focus your reading on real estate or investment-related topics. Reading truly does expand your horizons, so do it!

Network Like a Champ

The best investors understand the value of networking, and they make it a part of their standard business practices to do it. Effective networking truly is a beautiful thing, and it will translate to more leads and ultimately more money in your pocket. Make it your goal to meet or at least reach out to a certain number of people each week, whether it’s 3, 5, 10 or 15. The number is totally up to you, but remember, the more people you connect with, the more opportunities you can create for yourself.

Be Patient

Amazing real estate deals rarely happen overnight, and all the successful investors I know understand this. They’re all patient people (well, not really, but they all recognize the value of patience and know when to use it). While real estate investing is certainly a job that requires action, and sometimes swift action, it’s never a good idea to rush blindly into anything. Take the time to think things through and analyze different alternatives and outcomes. Basically, practice patience. Also, be patient with yourself. You’re probably not going to make a million dollars your first year of investing. Give yourself time to find your footing and grow as an investor.

Give Back

The happiest people I know are the ones who take time to give to others. Happier people tend to have greater satisfaction in their lives, and those who are satisfied also tend to be more successful. Success, happiness, and satisfaction are all connected, and giving back is intertwined in it all. It’s your choice how you want to give. You could mentor a beginning investor, coordinate networking events in your area, or volunteer in a neighborhood where you own property - do whatever you like! You’ll probably have moments where you feel like you don’t have time, but I promise it’s worth it to build time in your schedule for giving back.

Every great investor I know practices some or all of these habits. Adopting them for yourself is just one more piece of the puzzle to finding your own success, so give it a shot. You may surprise yourself with how much good it can do to make these simple changes in your life.