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?
Being willing to outwork everyone. Most people are lazy and don't want to learn. By being willing to absorb information whenever possible an implement, you can set yourself above 95% of people out there.
I read a book every week. It's easy to say there's not enough time, but it only takes about an hour a day. I read a lot of business strategy books - hearing diverse perspectives and reading case studies of similar companies has helped me immensely in running Enodo.
I could've said fear, family, freedom and giving back to my community as well. But knowing that I can sign into BP, ask ANY question, get answers from seasoned professionals to help mitigate the risk then still NOT take action. That would be very humiliating/shameful to me. Super grateful for the opportunity and I won't let it pass by. I look forward to hearing from you all soon about:
- What to look for while building a team. (Lawyer, Tittle company, property Management, Contractors, CPA)
- Getting the best rates and avoiding pitfalls with private money lender's. Rather use OPM then my own (I am accredited)
@Roger Steciak they have an audible that is 45 minutes long and it is read by Earl Nightingale. It also has a little excerpt from Napoleon himself.
It is meant to be listened to daily and it really does a great job of recapping the book. Though you must have read the book first to understand the recap!
I’d say it’s a yearly read for sure, great principles and of course it’s timeless.
@Steve Emling Sheer determination. I get really bothered when I set a goal and I fail at it. But bothered in a good way. Bothered meaning, determined to try again and make it work.
My second is was a bigger issue when I first started but not so much anymore, and that is proving the naysayers. Being young and having a small chip on your shoulder is not always the best way to go about life, but hey it worked for me, and I hate to say it, but many many maaany of the naysayers and people that laughed at me are now the ones swinging by my projects, asking advice, pitching their ideas to me and wanting in on things. I’m by no means financially free or wealthy, but even having a few properties shushed the critics pretty quickly. Anyways, onto more positive vibes nowadays!
To echo what my boss always says, and at least one other commenter, @Russell Brazil, consistency.
I wouldn't say I've had the success to comment here, but I've heard this a lot from very successful people and try to do the same.
Much harder to do than to say. There's a reason not everyone is rich. Props to all those that have done it for years, decades even. You the real MVP's ;)
There's some pretty awesome answers here, it's very informative. For me it was systemizing my days and networking constantly. Both have contributed greatly to my deal-flow, my base of knowledge, and my actual tangible growth as an investor.
"Stick-to-it-iveness" even when things are difficult. A lot of millenials have the "give it to me now" attitude and that's not how you succeed in real life specially in real estate.
I used to collect things when I was a kid: baseball cards, coins, lots of other things. Now I collect real estate. The same habit, different age, different collection.
The rest of it is dedicated work, which is a prerequisite for most business endeavors. For this, I hold no advantage.
@Account Closed everyone will give you similar responses and everyone is right. For each individual it will be different, however, you can take a response from every person and see if that is what will make you successful.
For me it's; consistency, being willing to take risk and understanding that if I fail it's not the end of the world.
I wrote out where I wanted to be in the next 4 years and backwards engineered the steps I’d have to take to get there. I have clear goals for this year and each week I review them and determine what I have to do this week to get the job done! I’ve never been more focused!
Oh, I would also say working out consistently has really helped with my discipline, confidence and focus!
If I had to choose one I would say It's having integrity. People can tell when you're being inauthentic or trying to sell them. If I say what I do and do what I say when problems arise I don't have any problem looking and dealing with them in the face. That way when problems do come around (never if but when) your investors, partners, lenders will still want to work with you because you did the right thing.
The willingness to do what others aren't. Always be more prepared and more eager than the next guy. In that same vein, there's always someone who's more experienced or more knowledgeable than you. Being determined to learn as much as possible day in and day out has really helped me gain a lot of real estate knowledge in a short amount of time.