Attitude Is Everything in Real Estate Investing

The real estate investment world is not unique in its ups and downs. Nearly every career path has days that are great and days that are trying. When you own your business, those highs and lows can feel more intense. What will get you through is how you approach the challenges. After all, your attitude impacts you as well as those around you. When you start to feel stressed, run-down and discouraged, consider these four thoughts to get your attitude back on a positive track.

Positivity

Maintaining a positive outlook does not necessarily mean assuming (or pretending) everything is going to be great all the time. Rather, it means you understand there will be bumps in the road, but that you can navigate through them, and that setbacks are temporary. People have a way of listening to the negative voices that creep in when things don’t go as expected. Successful people find a way to shut out those voices and instead listen to the positive ones.

Fearlessness

Even if you have dreamed for years about running your own business, when you get right down to it, it’s very easy to become afraid of failure. This is crippling to any startup. Yes, you have a lot at stake, but mistakes are part of life. If you don’t try, you are guaranteed to not succeed, so do what you can to prepare, then take action. Do something. Don’t let fear keep you from moving forward.

On the flip side, though, don’t be reckless. Always make informed decisions, not snap decisions. Approach problems and new ideas with optimism but perform your due diligence. The key is to find balance. Some of that will come with time—as you get your first few deals behind you, you will build confidence. But without a little fearlessness, you won’t get far enough to experience success.

Gratitude

No matter how busy you get, always make time to appreciate those who help you along the way. Your success hinges on everyone around you pulling their weight. The better you treat them, the better the team will function. A simple “thank you” can keep morale high. When you close a new deal or sell a finished flip, celebrate those victories with your team. After all, they helped you get there. When your attitude is positive, theirs likely will be, too.

Gratitude can help you get through struggles, too. When one area of your business hits a rough patch, remembering what you are grateful for can help you get back into a positive mindset. Maybe a deal fell through, but you are grateful for the new listing you just saw. Maybe your tenants are upset about the water heater that just died, but you can be grateful you have funds set aside to cover the expenses.

Curiosity

In this sense, we mean the opposite of complacency. When things are running smoothly, it is easy to sit back and go with the flow. But when you run your own business, and you want to be successful, you need to keep looking for ways to improve current processes, and new opportunities to expand your reach. Curiosity will keep you from putting all of your eggs in one basket, so to speak. Once you get comfortable with property flipping, maybe you will be curious to learn how wholesaling works. Or maybe you are curious to learn more about the rental market. Whatever it is, it’s in your interests to explore those when you are ready to branch out.

Your attitude will have a tremendous impact on your business. The type of attitude you carry with you will color your decision-making, your confidence, and your willingness to branch out into new areas. Successful investors learn to be present and acknowledge how they are feeling, then take steps to get back into a positive mindset as soon as possible.