07 May 3 Ways to Initiate a Powerful Transformation in Your Real Estate Investing Business
Achieving success in life and in your real estate investing business means opening up yourself to the idea of change. Discover how you can do just that.
“If you can cut a check for a problem, you don’t have a problem.”
These words came from one of my mentors – and they’ve stuck with me for a long time.
You see, many of us, real estate investors included, have psychological hang-ups when it comes to making money.
Society, in general, has mixed feelings about people who make money. This is why entrepreneurship isn't really encouraged in certain social circles.
But here’s the thing…
A lack of money causes more stress than practically anything else in this world!
Think about it.
Divorces, reliance on anti-anxiety medication, uninvolved parenting…
Societal issues such as these stem from financial anxiety and insecurity. That’s why I don’t want you to think that money can't solve issues.
In fact, let me tell you something:
When you get money out of the way, you're allowed to be your best self.
And by proactively changing certain habits in your life, you can allow abundance.
You can empower yourself to attain prosperity.
More importantly… you can be a profitable real estate investor.
With that said, it’s not that easy to change bad habits and adopt more productive mindsets.
So, let me share three specific and actionable ways for you to jump start that fateful change.
The 3 Ways
Way #1 – Commit to a Niche-Specific Mentor for 3 Years
This advice actually applies across the board.
Regardless of whichever niche you’re pursuing in your real estate business, you need to find someone to learn from. And this must be someone who is still actively involved in the niche you’ve chosen.
They can take on the role of a trainer, a mentor, or a coach; preferably the latter, since that implies a more hands-on approach to helping you learn the ropes.
And once you’ve found the right person, you need to commit for 3 years.
36 months. No turning back. No backing out.
There’s a kind of wisdom that can only be acquired by experience – or prolonged exposure with someone with said experience.
This is definitely the case with the real estate industry.
You want to learn from someone who has been around long enough to experience multiple cycles. It’s much easier to weather a recession when you have the guidance of a seasoned mentor. They’re the ones who will be best equipped to show you how to spend and save your money before, during, and after a recession.
After all, how can they teach you how to thrive in a down cycle if they haven’t experienced one themselves?
Way #2 – Don’t Succumb to Shiny Object Syndrome
Try and recall the last time you were waiting in line at the supermarket.
Chances are, you thought of the three common checkout strategies so you can finish your errand faster:
- Picking the shortest line and sticking with it no matter what
- Picking the shortest line, then switching lines at least once. For example, if someone in front of you is holding up the line.
- Picking the shortest line, and then continuously scanning for better options. With this strategy, you might have ended up switching lines many times before finally leaving the store.
The problem with the third strategy is obvious:
Every time you switch lines, you're starting over in your search for the “shiny object”.
Now, it might seem like you’re constantly optimizing your time in doing so. But the reality is that jumping back and forth like that is almost certainly a waste of your time and energy.
It’s the same with real estate investing. And this leads us back to the timeline I specified earlier.
There’s a reason why I recommend a minimum commitment of 36 months:
It’s because there are too many real estate investors out there who succumb to this shiny object syndrome.
Instead of committing to a niche or strategy for their real estate investing business, they keep getting distracted by other shiny opportunities. And every time they hit an obstacle, they switch to what they think is a newer, easier, and shinier proposition.
For example, let’s say they first decide on investing in apartments.
They buy a course about it. And then, they think, “Oh, I can't raise the money – that's too hard.” So, they switch paths.
And they buy the course on short sales… then realize it’s not for them.
And they buy the course on pre-foreclosure… then say to themselves they can’t do it.
And so on…
For them, there’s always a shinier object somewhere else. And after spending so much time jumping between different options…
They end up getting nowhere.
That said, do you know an aspiring real estate investor who's in his or her 6th, 10th, or 15th “new project”?
I bet you do…
And I hope you’re not in the same boat!
Way #3 – Be Proactive About Eliminating Bad Habits
I’ve gotten a fair amount of pushback when I shared this strategy. In fact, a lot of aspiring real estate investors said the following in reply:
“I just don’t have the time to learn new habits.”
“I don’t have the headspace for this kind of micro-discipline.”
“I’m better off focusing on more important things, like running my business.”
The truth is that one bad habit may not seem significant, but it adds up.
And by making small improvements, in the long run, you free up much more time than the time you spent changing your ways.
The good news is, eliminating bad habits is not rocket science.
In fact, let me share how you can do it:
First, you identify all the counterproductive routines that you’ve fallen into.
For example, I was once allowing myself to get distracted throughout the day. Emails were one thing. Having people interrupt my workflow every now and then was another.
Maybe this is also something you’re guilty of. So, write it down on a piece of paper, as well as all the other bad habits you can think of.
Next, figure out how you can introduce productive fixes for your problem.
Here’s what I did to minimize productivity-ruining disruptions:
- I have a sign on my door that declares when I’m available and not available for impromptu discussions.
- I have an autoresponder set up on my email so people know when they can expect a reply.
- My voicemail tells callers when they can expect me to return the call.
As I’ve said, there’s nothing complicated about this.
You don’t even need to change all your bad habits at once. Truth is, you can introduce them gradually and at a pace that’s convenient for you.
Trust me, small improvements make a big difference in the long run.
Start Empowering Your Future Self
The little things we do today can make a big difference down the line. And the earlier you start eliminating those bad habits, the better. It will be of great benefit to you and even your real estate investing business.
I hope you eventually find my three tips to be transformative.
And if you’d like access to more practical and inspirational advice, do check out our Wicked Smart Academy. Our Quantum Leap System Home Study Program could be the key to unlocking your full potential. You can learn more by clicking here: https://smartrealestatecoach.com/academy