What skills are needed to become a successful investor?

[Kaydn Jensen]

Hey BP! I've been taking some time to think about what skills I need to develop to become a high performing real estate investor and I wanted to get your opinion. In general, what are the three most important skills that make real estate investors successful?

Thanks for your input, I'm curious to see what those of you who have been doing this for much longer than me have to say! 

[Michael Guzik]

@Kaydn Jensen That's a great question my friend. In all honesty the skills you need to be successful in this business are the skills you need  to be successful in any career, or area of life. Your mental state/thinking is THE MOST IMPORTANT THING. Success is 80% mindset. You need to be able to learn, work hard and stay positive. Being a people person is a huge plus since this business is all about relationships, but it isn't necessary. Just being honest, hard working and positive will get you so far my friend. It really isn't as complicated as you may, or may not think. Just being a good person and doing your absolute best consistently will take you so much farther than most. 

Patience is also a very big key. That is one thing I will say that you have to have. Many people get into this with high hopes of getting rich quick and quit a few weeks, months or years later. WEALTH takes time. You must be willing to work hard and keep working hard even if you don't get results right off the bat. 

One of my very valued and successful mentors says being an entrepreneur is like baking a cake. You need all the right ingredients to make your cake(business) come out delicious. Many people get the ingredients correct, but when it comes to baking the cake is where they mess up. They want the cake to bake in 15 minutes, so they take out ingredients or turn up the temperature to 600 degrees. That doesn't work. IT NEEDS TIME TO BAKE. The cake will take 45-90 minutes regardless of how you feel or wish. Many people just don't give their cake time to bake and quit too soon. That analogy is life honestly. Patience is so key my friend I really can't stress that enough.

The last thing, which it seems you are already doing, is LEARNING. Listen to podcasts and read EVERY DAY. That is so key my friend you have to constantly be learning and growing. I wish you the best brother and can't wait to see you on the site in the future, and see how far you have come!