Success in Real Estate
To achieve success in real estate investing, you have to inspire yourself.
Nobody is going to do it for you.
Every successful real estate investor out there has a story about their moment of inspiration…That life-changing, “Aha!” moment when they could taste their hunger for success while — at the same time — they visualized themselves succeeding.
And every investor who’s had that moment had to work for it. Whether they meant to or not, they embodied a set of behaviors and thinking patterns that lead them to inspire themselves.
This relationship between inspiration and success has been on my mind a lot lately. I put this post together to give investors a road map for how to inspire themselves (or continue inspiring themselves).
I outline below exactly what it takes to inspire yourself for life-long success in real estate investing.
Interestingly, the principles that will lead you to inspiration are the same ones that will drive your success beyond the moment of inspiration itself.
Success In Real Estate – The 3 Pillars
- Vision
- Discipline
- Tenacity
These are the three pillars of success in real estate investing.
Consciously or not, successful real estate investors infuse these qualities into everything they do.
Vision
Vision is the most important of the three pillars. Long before discipline and tenacity come into play, successful investors must first envision what they want and see themselves getting it.
With the vision principle, you visualize your future self achieving your goals. You conceptualize the steps it will take to get there, and you imagine yourself living a life that is more free and fulfilling than the one you’re living now.
Even though the vision principle comes into play first, you have to constantly maintain your vision to maintain your success.
Discipline
The word “discipline” suffers from a lot of abuse and misuse in the English language. The way we use it, we make it sound like it’s bad thing.
The actual definition of discipline means something closer to a “a system of instruction or training.”
In real estate investing, being disciplined means to commit yourself to learning for the rest of your life — learning from yourself and from others.
The rules of the REI game are constantly changing. To keep up, successful investors have to approach each day with an open mind, a willingness to learn new things and a capacity to let go of things that are no longer useful.
Tenacity
Tenacity, persistence, stick-to-itiveness, follow-through. Take your pick.
Tenacity is the principle that gives you a competitive edge over other investors who, like you, also have vision and discipline.
When it comes down to the line, the investor who keeps her nose to the grindstone the longest wins.
Putting tenacity to work can mean spending more hours searching for properties, refusing to let setbacks set you back, meeting rehab deadlines (no matter what) or making that tenth offer that finally sticks.
Tips to Apply the Pillars
I recommend that you actively apply these three pillars on a daily basis.
Create a workout routine for each pillar with exercises that will strengthen the areas where you need the most improvement. If you do this, I promise that you will find the inspiration that you’re looking for or that this practice will breathe new life into what inspired you to start investing in the first place.
The best part is that all this inspiration will come from you. Here are a few ideas of what your “3 Pillars Daily Workout” might look like:
- Write down your goals and update them daily. These goals can be that big house you want for yourself, true financial freedom or specific investing goals.
- Dedicate ten minutes a day to visualizing your future self as a success.
- Use your discipline to learn from the obstacles that you’ve tenaciously overcome. Write down these experiences.
- Re-commit to lifelong learning every day. Don’t end your day until you’ve learned something new and written it down.
You can complete this kind of workout in just minutes, and the effects will add up fast. Before you know it, every one of your days will be filled with and driven by inspiration.
Synergy Between Pillars
I don’t want to spoil the surprise too much, but if you apply what I’m talking about in this post, you will quickly discover that the 3 Pillars synergize.
Each of the 3 Pillar principles augments the others, as shown in the picture below.
This means that you will improve exponentially when you actively train yourself in all three areas at once. Practicing them will lead you to inspiration (or continued inspiration), and inspiration leads to success.
The power of a focused person who believes in themselves eventually trumps all other powers.
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