Ten characteristics RE Investors need to be Successful

Ok folks...... What character traits do you need to have to be a successful RE Investor in my opinion???? Based on a decade plus of dealing with both experienced and novice investors I feel the following character traits will serve you best as an RE Investor.

1. Active- opposite of lazy, get out there and get going, stop reading books, attending lectures and paying for courses..... go get your feet wet or keep them in the water.
Stop talking and start doing!

2. Discipline- you cannot think of RE Investing as a hobby. It is a PT job at first that can eventually lead to a FT Job or possibly retirement. Alot a fixed numbers of hours per week to your PT job.... IE. 1 Hour per day or 5 hours per week between 7-8AM or 6-7PM..... Adjust your life to eliminate all the excuses. YOU MUST MAKE RE INVESTING A PART OF YOUR DAILY LIFE THROUGH A DISCIPLINED APPROACH

3. Skepticism- be skeptical of everything anyone tells you until you know from experience they are speaking the truth.... and then verify all the data/assumptions anyway. DO NOT trust anyone else with your money. They will not respect it like you do.

4. Analytical ability- You have to be bale to run numbers, analyze projects, quotes, people.... If you cannot you will end up taking someone else's word for things which is not a good practice

5. Healthy Fear- You should be fearful of losing money or making bad decisions and act accordingly

6. Tenacity- Don't give up on deals or potential clients.... This is a marathon not a sprint 

7. Driven- Develop that burning sensation in your belly that drives you.... RE Investing has a very high failure rate due to people giving up for a bunch of reasons. Don't assume that just because you won't give up means that you will be successful.... it take more than action to be a success in RE Investing

8. Inquisitiveness- Ask questions, research assumptions, learn all the construction trades you can

9. Humble- FIND AND PAY FOR A MENTOR that will take your calls and answer your questions. Free mentors have no vested interest in your success. Most of the people i see fail as investors are actually really smart educated people with a touch too much arrogance 

10. Patience- Be patient when looking for deals. Depending on your market there may not be a lot to look at. Don't get "house horny" which means you end up buying a deal just to buy a deal. Always assess risk/return and make sure it fits your profile.

The last thing i want to mention is that you need a plan. 95% of investors out there have no written plan and so when they ask if they should buy a deal i always answer their question the same way.... DOES IT FIT YOUR PLAN!

Excuse typos

DW