The Most VITAL Trait to Get Moving in Your Real Estate Investing

“Massive Action” is the most vital trait in real estate investing. But before you start massively acting, you need to be sure you’re taking the proper steps.

First Things First

Due to trying to do too much, I oftentimes see analysis paralysis in this industry. Yes, there are many sectors in this industry, but it’s best to find a niche and stick with it. Once you master that, then move to the next rung of your ladder of success.

I have been involved with investing in single-family homes for several years. At some point, I will expand to multifamily homes. But I will only do that after I’ve mastered single-family. As Malcolm Gladwell would state, “You’ve become a master after you have 10,000 hours of experience.”

Multitasking became a hugely popular concept toward the end of the 20th century. “It’s great that you can type quickly. But can you type quickly and talk on the phone at the same time?” This trend seemed to match how rapidly and exponentially productivity was increasing due to the internet.

However, an issue has arisen with multitasking. If you multitask too much, you can’t focus on any one thing you’re doing, and you’re more likely to mess up everything at once. (The plus side is that you mess everything up with maximum efficiency.) Using the example above, if you’re trying to type and talk on the phone on the same time, you’re more likely to make mistakes with both your typing and your conversation.

So don’t let the concept of massive action cause you to start running around like a chicken with your head cut off.

Plan Your Work, and Work Your Plan

Keep it simple. What is the first rung on your way up the ladder that you want to master? In my case, it’s single-family dwellings. It was a natural place for me to start since I prefer investing in them, and they’re more common where I live in Indianapolis. So I started learning all I could about them and focused exclusively on them as investment possibilities.

By narrowing your focus, you can move your way up the ladder more quickly. Otherwise, you might knock the ladder over before you get anywhere.