Real Estate Investors: A Special Breed
Real estate investors have a little something extra; they have to because success in real estate investment doesn’t just come by taking a few classes or reading a few books. Of course, knowledge is a definite prerequisite, but to really be successful in real estate investing you’ve got to have a few fundamental character attributes, the most important of which is the ability to take action.
The Time is Now- Have You Got What it Takes?
Dreams are the seeds of great accomplishment but action must be taken to bring those dreams to reality. Many people fantasize about how great it will be to have the freedom and the finances to live the life they want but most never take the action needed to make it happen; Don’t just dream- do!
Success in real estate investment doesn’t just happen overnight; though the occasional newbie has tremendous good fortune right out the gate, many have to relentlessly go after their goal. New investors will encounter unexpected obstacles that they didn’t learn about in class, they will make mistakes, and they will face delays; determination and perseverance are imperative to push on through to succeed.
Problem solving abilities:
The ability to think outside the proverbial box is an integral part of what it takes to be a successful real estate investor. In fact, problem solving is a what makes a real estate investor valuable to those in need; people with investment money to spend, people with properties that are about to foreclose, people who need to relocate for some reason or another, people who’ve inherited property; the list of problems that you can, and will, step in to solve are abundant, and that’s a good thing for you and for those who require your services.
Willingness to ask for help and act on advice:
Not only can you use other people’s money (leveraging) in real estate investment, but you can use other people’s knowledge, experience, skills, contacts, influence and time. Self-reliance and self-confidence are extremely important, as you are about to see, but the ability to understand that you know what you know, you can do what you can do and the willingness to accept help, and follow advice, is an absolute must.
Some say the essence of an entrepreneurial spirit is the ability to take action, make decisions and achieve goals. Those who possess these attributes will inevitably be more successful in real estate investment.
Self-confidence is essential for entrepreneurs who often have little other than their own resources to rely on; there is little that is more important than self-confidence when it comes to success in your real estate investment business.
Higher risk tolerance than usual:
Studies show that the overconfidence of ability in most entrepreneurial types compensates for the Average-Joe-With-a-JOB, normal aversion to risk. Whatever it takes, this is a good thing because often the need to tolerate ambiguity, uncertainty and risk is at the forefront of the real estate investor’s day-to-day business dealings.
“A good investor plans and analyzes, but he or she is never the victim of paralysis by analysis” – Nouveau Riche Academy