Continuing With 101 Real Estate Investor Best Practices...

Practice Make Perfect…

I recently wrote a Seeds of Success article about talent versus practice. 

What do you think?  Are successful real estate investors just more talented or have they just practiced more and therefore better at this success thing?

Here are some excerpts from that Seeds of Success (if you would like to sign up to receive this weekly ezine please go to ).

"I would invite you to read the following book: Talent Is Overrated,  by Geoff Colvin.  In his book, Colvin takes a very critical look at the role talent plays in the success of individuals.  

A constant theme in his book is that many superstar performers, while possessing talent, possess no more talent than most individuals with similar interests. In fact, what Colvin shows is that it isn't talent per se that separate the good from the great... but practice... and lots of it.
 

I cannot tell you the number of times that I have seen real estate investors rush into the investing world with little real knowledge - having never negotiated a deal, secured financing, managed a contractor and on and on - only to find that the unknowns presented too high a risk.  Or, they would take one of the steps above and think, "WOW, that was difficult! If this is what real estate investing is going to entail... it isn't for me!"  

Yet if those real estate investors had just gotten through that one deal - "practiced" - and learned, they would have found that the second deal and each successive deal would become easier and easier.

In today's market, I see a great many real estate investors, (perhaps even you!) who aren't making offers...getting rejected and then going out and making more offers.  Now, how do you think someone like Tiger Woods got so good at sending that little white ball over 200 - 300 yards? He didn't just wake up one morning and start hitting holes-in-one.

Now ask yourself: "What makes me think I am any different from Woods? Every day he gets up, just like I do. He goes to work...just like I do. And he practices his craft, just like I should be doing."  And he gets better and better at it, until he is a superstar.  

So what can you do immediately to implement this "best practice"?

How about going out and making 30 offers. Yes, practice actually making 30 offers. Truth be known, most of them will be rejected, and when they are you ask yourself: "What can I learn from this?"

Some of them will come back with counter-offers from the seller. And when they do you should ask yourself: "What can I learn from that?"  And, one or more will likely be accepted, allowing you yet another opportunity to continue to practice your craft as a successful real estate investor.

Each time you will get better - and closer to enjoying the rewards that any outstanding achiever can earn.

Ask yourself… Are you participating? Are you practicing? If not why not?

To Your Success...

Pete

If you found this post to be of value, I would be honored if you passed it on to others who may benefit.

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Peter R, Giardini is the founder of The Club, Real Estate Mastermind a National Real Estate Investor Coaching program whose philosophy is that real estate investing coaching/ mentoring can only be provided by experenced "local" coaches in a one-on-one environment. To find out more about The Club visit or send an email to .

You can listen in and participate in Pete's Real Estate Investors' Mastermind radio show every Thursday night at 11:00PM on BlogTalkRadio... .  All rights reserved 2009.