Mindset for Beginners?

4 Replies

Hello everyone!

I wanted to get some feedback from some of the more experienced investors on the site.

I'm still very green at the moment, I have my first rental property that I am house hacking and requires a lot of work that I am slowly working through. Once I have this property stabilized I want to buy at least 1 more property this year, aiming for 2. I am also a licensed realtor beginning to build that business.

I find that I am very hard on myself and have trouble getting past a lot of the noise and negativity with everything going on. I do have a large community I connect with and have some very supportive coaches and mentors that I work with. However with all of that I still find I have trouble pushing past that.

Does anyone have any pointers for people starting out and how I should focus/maintain the mental "capacity" to keep pushing forward?

@Andrew Casal

I am answering this from a life experience perspective.  

Nothing I ever did in life was easy.  It took alot of work and alot of time.  If you are patient and let your work grind away, then you will see the benefits later on down the road.  When you are thick in the middle of something it is hard to see past where you are at but time continues to run and the work you do during that time will show. The results come either way.  You can not work hard and see the outcome or you can grind and see the outcome.  It is your choice.

Focus on the long term goal and throw away any small knocks or small bumps in the road because they are going to come.  Don't focus on every little thing that doesn't go your way.  

As long as you are making progress however slight it is better than standing still.

Nothing in life is given to you but you can go out and get whatever you want.  It just takes time.

Good luck!!

@Andrew Casal , I always love this question.  It is something I think that we all deal with is maintaining motivation and mindset because whether you are a beginner or moving on to the next level, there is still the need to continue the motivation or change your mindset.  

For me, I've always been a very goal oriented person.  When I set my mind to something, I get it done.  I don't stop and I don't quit.  You'll run into road blocks and various hiccups and that's okay.  Just know that you'll find the answer and carry on.  That will include deals not working out, it will include a lot of time "wasted" but is a learning experience, and properties that just seem to have a lot go wrong all at once - to name a few.

For me, I've been working on changing over to a new asset class for myself along with my business partner @Adam Lendi , RV Parks and Campgrounds.  We've been doing a lot of work on getting that going and we haven't always won.  But what we have done is gain experience and knowledge on a lot of other things along the way, even allowing us to focus on a new Wealth Watchers group and podcast.  If you realize that there will always be naysayers and negativity out there and ignore it, you'll also see a ton of positivity and others that are willing to help you get going.  Continue to stay focused, set those goals, allow yourself some time, and that ball WILL get rolling.

Good Luck!

Originally posted by @Justin Hoggatt :

@Andrew Casal , I always love this question.  It is something I think that we all deal with is maintaining motivation and mindset because whether you are a beginner or moving on to the next level, there is still the need to continue the motivation or change your mindset.  

For me, I've always been a very goal oriented person.  When I set my mind to something, I get it done.  I don't stop and I don't quit.  You'll run into road blocks and various hiccups and that's okay.  Just know that you'll find the answer and carry on.  That will include deals not working out, it will include a lot of time "wasted" but is a learning experience, and properties that just seem to have a lot go wrong all at once - to name a few.

For me, I've been working on changing over to a new asset class for myself along with my business partner @Adam Lendi, RV Parks and Campgrounds.  We've been doing a lot of work on getting that going and we haven't always won.  But we have done is gain experience and knowledge of a lot of other things along the way, even allowing us to focus on a new Wealth Watchers group and podcast.  If you realize that there will always be naysayers and negativity out there and ignore it, you'll also see a ton of positivity and others that are willing to help you get going.  Continue to stay focused, set those goals, allow yourself some time, and that ball WILL get rolling.

Good Luck!

To echo what Justin said, there will always be naysayers! Ignore them. They are self-conscious about their own success and feel better when they cause others not to succeed. Build a circle around you of like-minded people (this is a great place to find them). As Jim Rohn has been quoted... "You are the average of the five people you spend the most time with." Choose your 5 wisely.

As for your brokerage business, align yourself with the right people and build/join a team. No one succeeds alone. If you need help finding one, let me know. As you grow your business, consider hiring a coach. They will help push you to be your best.

Good luck!