If you’re like a lot of the new real estate investors that Christina and I have coached over the past few years, then you’ve probably already done your research and you know on some level what it takes to start making money flipping houses. But if you’re being honest with yourself, you just aren’t sure if you want to take the plunge and go for it, right?
Well, you’re certainly not alone. Many people struggle with making the transition and becoming financially free instead of working for someone else for the guarantee of a regular paycheck. Of course, you don’t want to think this way, but it’s a habit you’ve had for years. How can you get these thoughts out of your head and start moving forward with your career as a real estate investor? It’s time to learn how successful real estate investors think differently from other people.
THEY KNOW THAT EXCUSES GET IN THE WAY OF RESULTS
When you say something like, “I would’ve started looking for leads last night, but I was so tired,” or, “I want to follow up with that seller, but I just don’t have the time,” you’re making excuses. And while those excuses might buy you some time or get you out of your office job, they won’t benefit you at all in your real estate investing business.
Instead of making excuses, successful real estate investors take responsibility for their actions. Essentially, they know that they’re responsible for their success, so they minimize excuses and maximize positive action.
THEY KNOW WHAT THEIR TIME IS WORTH
From DIYing work that really should be left to a professional, to spending time on bad deals and everything in between, inexperienced real estate investors have a tendency to waste a lot of time. Savvy, successful investors know what their time is worth, and they spend it accordingly.
Instead of spending an entire day on demo work for a master bathroom, they’ll hire pros who can do it in an hour. This leaves them with extra time to follow up on new leads and work toward making their next deal. Your time will almost always be better spent working on improving your real estate investing business, than wasting time and money on projects you don’t know how to do. Trust me—Christina and I made this mistake many times when we were first starting out. We wanted to do everything by ourselves, but soon found out that it would be easier for us to hire a team to help us with our rehabs. That was one of the best decision we could have made for our business.
THEY KNOW THAT MISTAKES ARE HEALTHY
Speaking of which, I’ve made a lot of mistakes along the way as Christina and I have built our house flipping business. You can even watch a lot of those mistakes on our show, but I’m completely fine with that. In fact, I love it. I love that you or I or anyone can go and watch me make some huge mistakes, and you can learn from my mistakes instead of making them yourself.
That said, while it’s good to avoid mistakes and learn from what others have learned before you, there’s nothing wrong with making a few mistakes of your own. In fact, it’s really healthy. Making mistakes will give you opportunities to learn about the real estate business and do better in the future.
Take a minute to consider these three things and how they represent a different way of thinking about your business and life in general. If you can embrace them, then you’ll be on your way to thinking like a seasoned, successful real estate investor, and you’ll see a lot of new opportunities come your way. Now is your chance to get out of the rut and start thinking like a successful real estate investor.