Everyone in business wants things to happen as quickly as possible. When things don’t go according to plan, they often get discouraged. What the most successful investors realize, however, is that they have to make things happen on their own. Deals will not just fall into your lap. It is no surprise that the best investors also work the hardest. There is a saying that luck favors those who work the hardest. This is certainly the case in the real estate world. Here are just a few examples of what successful investors do every day:
1. They do things right: It doesn’t matter how fast you do something if you don’t do it right. Many investors are in such a rush to move onto the next task that they fail to focus on what they are doing. Even though you can multitask, it doesn’t mean you should. Once you get branded as someone who does sloppy work or constantly forgets minor details, it may be too late. People may disregard working with you for that reason alone. It really only takes a few extra minutes to slow down and make sure you are doing something right. Not only will your reputation improve, but the overall strength of your business will as well. Successful investors aren’t concerned with how quickly they can do something; they would rather do it right.
2. They work on meaningful tasks: Your goal as a real estate investor is not to see how quickly you can make your day go by. There is nobody looking over your shoulder and no clock to punch. It is up to you to be as productive as possible. Successful investors don’t waste any hours in their day. They work on the most important items on their list first, and work down from there. If the mundane tasks become too much, they hire people to do this work for them. Your time is the most valuable asset you have. Work on tasks that yield real results.
3. They call all potential leads: Successful investors know that deals can come from anywhere. Above all else, a good real estate investment network will produce quality leads. They never assume how a phone call will go, and certainly never hesitate finding out. Some of the most profitable deals you get will come from the most unlikely sources. It is not easy picking up the phone and knowing that you will go back and forth with a seller for twenty minutes. They will ask you dozens of questions and push you to the limit. This is part of the real estate business. That said, if you go into a call with a negative attitude, you have no chance to make a good impression. The real estate business is a numbers game. Things won’t always go your way, but the next call could be the one that changes everything. Successful investors realize this.
4. They attend meetings: How will people in your area know that you invest in real estate unless you put yourself out there? Sure, social media can quickly reach hundreds of people, but nothing is better than face to face contact. Networking meetings and investment clubs can be tedious at times, but are an important part of being successful. The contacts you make become the foundation of your business. You have a choice of whether or not you want to attend. Those investors that do, often see results after just a few meetings. The biggest part of any networking is simply showing up. You will be surprised just how connected people are within a local community. Seeing a recognizable face could be the difference in a handful of deals every year.
5. They step outside comfort zone: The most successful investors are willing to step outside of their comfort zone when they need to. Instead of complaining about a lack of deals, they make things happen. They will knock on the door of a distressed property and talk to the homeowner. They realize that for every four angry people, the fifth may have been looking for a way to sell. They may not like pitching real estate agents or cold calling leads, but they do it anyways. What they know is that after the first couple of times doing something they don’t like it becomes easier every time. Stepping outside of your comfort zone is often a matter of how badly you want to be successful.
6. They demonstrate a willingness to learn: There is always something you can learn. You don’t need to be an expert in every area, but you should have a general base of knowledge. The minute you feel like you know all you need to know is when your business will start to slow down. The real estate business is constantly changing, and the most successful investors are willing to change when needed. They are open to new ideas and willing to look at things a different way. There is nothing wrong with learning something new. Successful investors are always willing to learn something that may help their business.