Everyone dreams of winning the lottery! Yet it is not really about the “win” but about the things the money will afford them. The American dream has always been to own your own home. For some of us that dream has come true but we search for more. “To much is given, much is expected.” Providing homes for others as a real estate investor can provide the contentment you seek.
Becoming a successful real estate investor starts with developing the mindset that turns the dreams into action steps coupled with great communication skills that open doors and engages others. Real estate is not about buildings or bricks, or even when and where to buy. It is about meeting real human needs.
A rich life begins with relationships – with your tenants, your investors and your entire team! You notice this not written with you in the middle as the only focus. You are in the center purely as a connector to the mission of providing for others. Communicating well is connecting well and that is your mission.
Stepping into your new identity as a real estate investor begins with asking yourself, what do I have to offer the business of real estate investor? What are your talents, skills and passions? You may clearly have the vision and the courage to invest but most likely don’t have all the skills and talents needed to pull it off.
What do I already know about real estate? Many investors come to this venture with cursory knowledge of the real estate market. Maybe you have been a realtor so you have a good understanding of the home purchasing market. The question is do you have a retail mindset or a wholesale mindset? While your knowledge is transferable it is definitely a different mindset.
Surround yourself with experienced people who might help you. One suggestion is to find a real estate investment club in your area. These are often filled with a group of individuals with
a wide range of experience and strategies. Get involved and be curious and willing to ask powerful intelligent questions. One place to find great information is the website biggerpockets.com. They have great podcasts that interview successful real estate investors.
Develop your niche by asking yourself what type of clients you would like to serve. We attract who we are, what we value. This about a lighthouse that stands motionless and emits its light. Those boats that need the light are attracted to it; those that don’t simply sail on by.
Being clear about your vision will help you to select the right properties and investments and create the success you imagined. Become the investor who provides dreams to others.