Get Out of Your Own Way

[Rick Howell]

This is a great time to invest in real estate, but that doesn’t mean it will always be easy. Like any business, it will have its highs and lows. The good news is, you can choose how you react to the ups and downs. Staying positive is critical to your success. No one wants to do business with someone radiating negativity. By avoiding these three thoughts and attitudes, you can stay positive even in the lowest of times.

Procrastination

One of this industry’s perks is that you set your own schedule. But with no one dictating your schedule, it can be difficult to stay focused and get the job done. Do not push off tasks that could be done sooner. Take action and keep moving. Even if you fail from time to time, at least you will learn from your mistakes.

Defeat

Not every offer you make will be accepted. Rehab projects will run into stumbling blocks despite your best efforts. You will likely face more failure than success when you are starting out. As soon as you accept this, you can move on. Real estate is not unlike baseball in this way. Think about the greatest players to ever swing a bat and look at their percentages. While many investors facing a defeat will throw up their hands in despair, the best ones will take the setback in stride and press on. Attitude is everything. After all, that big opportunity could be right around the corner; investors who are busy complaining will miss it.

We learn more from failures than from successes, so learn to look for the silver linings and don’t make the same mistake twice. Property investing carries with it inherent risk, which means failure is part of the package.

Stubbornness

Stubborn attitudes about investing generally don’t find much success. This market is always changing, which means investors need to be flexible. How you invest today might not be the right strategy in six months or a year. If you have been investing for awhile, look back at where your business was a year ago. Most likely, you have made at least a few noticeable changes since then. The more flexible you are, the easier it is to adapt. Consider new opportunities. Your portfolio will thank you for it.

Setbacks make people frustrated. What matters is how you deal with your frustration. The next time you are feeling self-pity, remember your thoughts are as important as your actions. The sooner you can get yourself back on a positive track, the sooner you will find success in your business.