5 Characteristics of Successful Real Estate Investors

I have met many people who decide they want to start investing in real estate, but then they quit when they realize it’s going to take a lot more work, time and money than they were expecting. No one ever said real estate investing was easy though, did they? It’s easy to state that you want to do something, but that doesn’t automatically guarantee that it’s something you’ll want to stick with when the going gets tough.

Take a minute and think about the successful people that you know. Do they have any traits in-common? Chances are, they possess certain characteristics that have helped them become successful. If you aren’t sure what these characteristics are, here are the five that I’ve noticed successful investors have in common. Adopting these traits will help you reach your real estate investing goals and will help you become successful.

They Are Passionate

Passion is one of the most important traits that a successful real estate investor can possess. A real estate investor who is passionate wakes up every morning excited to search for new houses or to get back to work on their latest flip.

If you don’t have passion, any previous desire that you may have to flip ten houses (or 100) in a year will most likely fizzle out pretty quickly. Passion is the starting point for real estate investors, or anyone for that matter, who want to obtain success.

They Are Determined

In real estate investing, problems will pop-up all of the time. You may find out that your flip is infested with termites or that the floorboards are rotting. While some problems can be avoided, many are just the nature of house flipping. There’s simply no way to avoid them. Successful real estate investors never let these problems stop them or get in their way. They know that the path to success is full of speed bumps, but they choose to keep pushing forward anyways.

They Aren’t Afraid to Ask for Help

Successful real estate investors understand that investing is hard work, so they aren’t afraid to ask for help from other investors, mentors, friends, etc. Attempting to do everything on their own can prove to be expensive and can take a lot of time. Instead of trying to solve difficult problems by themselves, successful investors seek out people who are experienced and can offer advice or help.

They Know Their Limitations

Success comes not only from hard work, but from also knowing your limitations. Successful real estate investors set limitations for themselves, because they understand that they can’t do everything or be everywhere at once. If you run yourself into the ground by taking on too many projects, it becomes hard to maintain motivation for very long. Although it can be hard to set limitations, they will keep you from becoming completely overwhelmed.

They Never Stop Working

Successful real estate investors work hard. After all, that’s how they got to where they are today. While you don’t need to work yourself to the point of exhaustion (it’s ok to take that vacation or that day-off you’ve been needing for a while), you do need to remember that if you want to be successful you have to be willing to put in the work.

Successful real estate investors don’t let any opportunities pass them by. If they are going for a walk or a drive, they keep their eyes peeled for potential properties. They attend networking events at every chance they get and they are always on the search for people to partner with. They are willing to work hard at every chance they get.

Real estate investors tend to be successful because they possess these characteristics. If you already have several of these traits, then it will probably be a lot easier for you to obtain success. But if you don’t, you can always learn to adopt them, it will just take extra time and dedication.