Do you find yourself “lost” sometimes in the process of real estate investing? Do you lack clarity on what you are trying to accomplish? Or why you do the things that you do?
I often find myself reflecting on what I am trying to accomplish, how I am going to get there, and why I chose the strategies that we focus on .
I don’t know about you, but when I have a crystal clear picture of where I am going and why I am doing it, I find that I am the most productive.
Unfortunately, I believe that a lot of us (real estate investors) seem to get lost in the shuffle of why we are doing what we are doing, etc. etc. and I also find that many of us go down a wrong path due to a lack of clarity. This can lead to a delay in our destination, the true reason we chose to invest in real estate. Can you relate?
Why do some investors seem to be killing it? And others seem to be still trying to figure it all out… often feeling scatterbrained during their existing projects? How do we become Pros? I don’t just believe that experience plays a role in this… I strongly believe that clarity and mindset is just as an important factor.
Pros operate differently than amateurs. Pros know why they are doing what they are doing. They can match it with their lifestyle. They think differently. They operate more efficiently and with more focus. Can you think of some Pros that you have met? What about some amateurs that don’t quite get it yet? You can see a difference.
Pros understand the 80/20 principle, and focus on the 20.
Pros have a niche… they focus on a main thing (because that main thing matches their investor DNA)
Pros know what their goal is, are crystal clear about that goal, and have a realistic plan on how to get there
Pros turn down opportunities that do not fit their plan
Pros study local conditions, laws and regulations, and market cycles.
Pros can move on from bad news, and push forward quickly.
Pros understand other peoples’ value
Pros see properties for what they are: cashflow. (amateurs feel warm and fuzzy about them)
Pros know there is always more to learn
Pros make more money, but feel they can do much better ; they compete against themselves
Which one are you? What are some things you (we) can change to improve our performance ?