What single habit has contributed the most to your success?

Rental Property Investor · Pittsburgh, PA · Member since 2018 · 142 posts · 55 votes

Alright so I'm sure there are a lot of good complete systems/programs that people have developed but if you had to choose one single thing you do that has the biggest impact on your success, what would it be?

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Steve Vaughan

Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes

A strong why.

I'd had it with the status quo. The commute. Corporate apathy. I needed freedom!

The strong why for me provided tenacity and perseverance no matter what. Ask yourself why you want this 7 times to find your true why.

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Frank Wong
Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
7y
Hi Steve,
I think you must have the correct mindset. With that, you can achieve anything you want. For me, it was self-belief. I knew I would make it work no matter what. Even though I didn't have anything when I first got started I knew it in my mind that it will work out just fine.
23 Reply
Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
7y
@Account Closed
What has heightened my greatness most is my deep, abiding humility...
After struggling with it for decades, I have come to accept that I take after my father, and my father had many, many issues with his pride. It was, from my perspective, a pitiless demon that rode his back all his life.
I need to keep punching big holes in my own hot-air balloon all the time to make sure I don't develop the kind of delusions of grandeur that often crippled my father's efforts to do practically anything. Every person has gifts and limitations. Some people have outsized gifts in certain areas. With them come outsized limitations. My father never quite understood and accepted that he had to work with the limitations.
27 Reply
Steve Vaughan
Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
7y
A strong why.
I'd had it with the status quo. The commute. Corporate apathy. I needed freedom!
The strong why for me provided tenacity and perseverance no matter what. Ask yourself why you want this 7 times to find your true why.
30 Reply
Zach CumminsPro Member
Real Estate Agent · Carlsbad, CA · Member since 2017 · 53 posts · 68 votes
7y
Newbies and Seasoned investors can all relate to the four letter F words... FAIL and FEAR . And try to fail often. I would not consider myself a seasoned investor, but not exactly a newbie either. When I have FEAR about doing something in real estate, worrying about if it will work our not. Discussing things with more experienced investors. I always result to: I must try. If I don't try, well... I will never know the outcome. You can calculate the risk a thousand ways but if you never take the chance, you will never know. If I commit myself to trying things, I will find FAILure and will also find SUCCESS. Obviously focusing on the successful things will benefit long term. But Learning from FAILing makes you more successful in the end.
The more I surround myself with other Investors (typically more seasoned than myself) I can learn from their experiences and their failures.
Great question! Stoked to see other responses for this!
Happy Investing!
11 Reply
Zach CumminsPro Member
Real Estate Agent · Carlsbad, CA · Member since 2017 · 53 posts · 68 votes
7y
@Steve Vaughan You will find freedom in Wenatchee, Washington! beautiful area!
1 Reply
Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y
Consistency.
[email protected]301-893-4635 Podcast Guest on Show #192
District Invest Group545 Reviews
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14 Reply
Bill F.
Investor · Boston, MA · Member since 2015 · 1k+ posts · 3k+ votes
7y
Learning to set aside time everyday to consistently work toward goals instead of ramping up and down when I get enthusiastic about a project.
Also putting a focus on self improvement to slow expand my circle of competency in a purposeful manner that furthers my goals.
13 Reply
Account Closed
Lender · Pensacola, FL · Member since 2017 · 658 posts · 626 votes
7y
I stumbled on Think and Grow Rich by Napoleon Hill back in the 1970s. I was skeptical at first ("this book could be worth a million dollars to you"), but I was intrigued and had to reread it several times before I started getting it. I need to reread it again because every time I do, I learn stuff I missed the previous times.
Stepping back, I focus on improving my personal psychology. Dr. Van Tharp's books (which focus on investing and trading) say the same thing. Continue improving your mindset and success is going to happen.
6 Reply
Dennis M.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
For me it’s about my faith . I know that if he is going to provide for the birds and the lillys then he’ll provide for me. I’m also wise enough to know I have to do my part too to see it through . I guess you could say my formula is faith + action
26 Reply
Randy Janoe
Lender · Asheville, NC · Member since 2019 · 60 posts · 50 votes
7y
Originally posted by @Steve Vaughan:

A strong why.
I'd had it with the status quo. The commute. Corporate apathy. I needed freedom!
The strong why for me provided tenacity and perseverance no matter what. Ask yourself why you want this 7 times to find your true why.
I feel that. The only thing good about my 3 hour daily commute is a lot of podcast time :°)
8 Reply
Alexander FelicePro Member
Guy with Great Hair · Austin, TX · Member since 2013 · 2k+ posts · 4k+ votes
7y
tangible: education and networking, daily
abstract: obsession over increasingly challenging goals
[email protected]Podcast Guest on Show #301
2 Reply
Nick C.
Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
7y
Discipline.
Motivation comes and goes but if you can work just as hard when you're not feeling motivated you will do well.
11 Reply
Tony WooldridgePro Member
Rental Property Investor · Walla Walla, WA · Member since 2016 · 480 posts · 346 votes
7y
@Account Closed, I am fairly new to investing but not necessarily a newbie either. So success to me although, I have not gained it in my investing career quite yet (forth coming!) has to do with continued persistence! Persistence is the key to success overtime. You will fall down many times but you'll need to get up and brush yourself off and continually try again until you acquire your desired affect. So to me, persistence breeds success overtime! Here is to wishing you nothing but GR8 success in your 2019 REI ventures!
4 Reply
Nick Flint
Tampa, FL · Member since 2018 · 37 posts · 35 votes
7y
Writing things out has really helped me. Whenever I go to bed I write notes in my phone for what I need to get done the next day. Other things come up in between but I focus on those, if I miss something it’ll stay on there until the next day until it gets accomplished.
5 Reply
Brian Wilson
Investor · Longmont, CO · Member since 2016 · 185 posts · 156 votes
7y
As @Nick C. said. All the feel good motivation stuff fades eventually. Discipline is HUGE to anything you do. I spent most of my life as an athlete competing at a relatively high level. As I got older I started to hate fitness. But this past year I've been serious about my training. Finding reasonable ways to overcome your own laziness and excuses and then executing with frequency against the things you need to do.
For example in my fitness instance, in the winter I use the excuse of "I hate treadmills" and "it's too cold I'm not running" so I bough a rogue echo bike and literally put it at the foot of my bed. I've used it nearly every day since.
Basically having the self awareness to out work your faults (mitigate them), and then stick to these tactics.
This is applicable to everything you do in life.
4 Reply
Caleb Heimsoth
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
7y
@Steve Emling. Diligence, high savings rate. I save way more of my income then most people ever do. I then found a business partner who blows my percentage (and 99 percent of everyone out of the water)
Besides that it’s diligence and taking massive action. I bought my first rental site unseen in another state. Most people will never do that (I don’t recommend usually).
It’s hard to form these habits but once you do they give the foundation for everything else
5 Reply
Jason Perry
Rental Property Investor · Tiffin, OH · Member since 2018 · 16 posts · 17 votes
7y
Discipline, a focus on continual improvement, high levels of self awareness, and to me, the most important thing is to enjoy what you do. I love what I do. I don't love it all of the time, but in general, I never dread going to work and I love the people I work with. To me, if you can't find passion and joy in what you're doing, success can be difficult to achieve.
3 Reply
Mark H.
Investor · Grapevine, TX · Member since 2014 · 88 posts · 75 votes
7y
@Account Closed
Life is too short to waste it on the rat race or in a cube at work. The Rich Dad Poor Dad book and a few real estate investors I knew inspired me to build my wealth, get out of the rat race, and enjoy what life has to offer. Set goals that will make you very happy, pursue them relentlessly, and believe in yourself.
One last thing others have mentioned already: a strong self discipline makes a huge difference. Big goals are tough to reach. Excuses and good feel stuff don't really help in the long run.
5 Reply
Brandon Hicks
Investor · Avilla, IN · Member since 2013 · 796 posts · 769 votes
7y
@Steve Emling
Waking up. You can’t succeed if you’re not waking up.
Simple answer...but this a simple business most days 🤷‍♂️😋
1 Reply
Ian WalshBusiness Member
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
7y
Being consistent
1 Reply
Ryan Dossey
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
7y
Goals + Actionable Steps.

in 2016 I did 5 wholesale deals. In 2017 I did 74. In 18 we bought 70 units.

The big change from 16-17 was goals with actionable steps.

I had the KPI that I had to send 2,000 letters to buy a house. I set the goal of doing 50 deals in 2017. Which meant I had to do 2,000 letters a week roughly. Comically there is an economy of scale to this stuff so I didn't end up sending anywhere near that many!

2018 was the same thing. I decided I wanted to buy 50 units which meant we needed about 1 deal a week.
6 Reply
Kenneth GarrettPro Member
Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
7y
Understanding your investor Identification or your why. What is it that is driving you? Is it family, the reward of taking a distressed property and turning it into a nice home, you want to travel, you want to donate to your favorite charity. There are so many reasons. This is what motivates you.
Education is what will eliminate the fear of achieving your goal. Real Estate Investing is not hard, but it’s not easy either. Educating yourself develops confidence and reduces your fear. After the first property you acquire you will realize success, because you were ready and your why is what is driving you.
Good Luck.
2 Reply
James Canoy
Kingston, NY · Member since 2017 · 252 posts · 138 votes
7y
@Zach Cummins
The fear is real. If I feel fear that I feel is unwarranted then that fear creating thing is what I do. It’s a horrible sensation facing your bogeymen but even peeking out the other side is liberating.
That’s the why. The liberation.
4 Reply
Joe SplitrockPro Member
Moderator
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
7y
Perseverance.
It cannot be learned. It comes from having purpose and faith in your chosen path. It means doing things that don't feel comfortable or safe.
6 Reply
Mike Krieg
Investor / Syndicator · Austin, TX · Member since 2015 · 366 posts · 220 votes
7y
Never quit, never die, never surrender!!!!
5 Reply

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