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7 Essential Habits To Successful Real Estate Investing
Copyright (c) 2007-2023 Peter Conti
People always ask me how to become successful investing in real estate. Over the years the one thing I've noticed is the puzzled look I usually get after telling them. Maybe people think there's something magical about it.
There really isn't...
But there are definite behaviors and habits the most successful investors tend to cultivate. And my own personal success didn't take off until I started doing the same things.
Today I'll share seven important qualities you can start implementing right away to ensure your own real estate business success.
1. A strong, deep sense of self-belief in your purpose and goals. And this faith propels you to go out and meet with prospective buyers and sellers. Even if you feel a little shaky and nervous about doing it. You have enough belief in what you're doing to call people on the phone, or go out to people's homes and talk to them.
2. Presenting a trial offer. Afterwards, anything else needed to transform the offer into a win-win deal is negotiated. Successful investors understand the power of an initial psychological commitment to selling a property.
3. All successful people understand and practice the simple power of focus. Being focused on their goal without getting bogged down or distracted in other things. It's like having too many irons in the fire. Your energies get spread out and too thin. And this is a perfect recipe for lack of success.
4. Consistent, constant lead generation. They do this even when setting up a fantastic deal. I've seen lots of people get starry-eyed after finding a great deal. And then to only let things slide a little. It's understandable to rest on your successes.
But don't ever do it. Not when you're starting out, or even if you've been investing in real estate for a while.
Persistent lead generation gives you constant profits. Plain and simple. And you'll have the courage and ability to walk away from any deal that isn't right for you.
5. Always discover the real needs, desires, and motivations of the people you're dealing with. There are several important reasons for doing so.
First, you'll know the truth about why a particular property is on the market. Sometimes you just may want to walk away from a deal if it's not a good fit for you.
Second, in order to flesh-out the real needs and motivations you'll need to 'get involved' with the other person. You'll need to create and build rapport. And that creates an atmosphere of trust. It builds an emotional connection that compels the other person to want to do business with you.
6. Persistence until you win. Remember that not every deal will turn out like you imagined. You won't land every deal. But when things are looking less-than-rosy, keep putting in your very best effort. Believe there are great investing deals out there just waiting for you.
Remember...tough times never last. But tough people do!
7. This last piece of advice concerns a universal issue that so many people seem to have. It's certainly not specific to investing in real estate.
Fear of making mistakes.
Sure, no one likes to make mistakes. But understand when you're learning something new, then going out and putting it into action...you will make mistakes.
I can't begin to tell you how many blunders I made when I first entered the investing arena. But each and every successful real estate investor has made many mistakes along the way.
The important thing to do is learn from them. Very simple.
If you desire to invest in real estate, all you really need are two things. Getting the right knowledge. And developing the best mental habits that successful investors possess and use. You can start including these seven tips into your mental 'game' today to become a more successful investor.
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Peter Conti, http://www.MentorFinancialGroup.com, is America's leading real estate investment expert. He has helped thousands of clients create financial independence using real estate through his many books, investing courses, boot camps, lectures, and personal mentoring. Peter still actively invests in single family homes and commercial real estate.
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Top-Level Category: Real Estate Articles
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