6 Real Estate Mantras for Investors to Start the New Year Strong
Real estate investing requires confidence and a strong, positive mindset. Some days, it’s easier to feel confident about your investment decisions than others. When doubt starts to creep in, it helps to have tools that bring you back into a positive state of mind.
Many successful entrepreneurs take time each day to meditate. Meditation is an excellent tool for focusing your mind. Daily meditation doesn’t require a yoga practice, a waterfall and an hour of quiet time. If you have a couple of spare minutes, you can sit quietly with your eyes closed while focusing on your breath. During that time, it helps to have a real estate mantra to repeat to yourself to remind you what’s important.
If you’re looking for a way to boost your productivity and strengthen your outlook, consider meditating using these real estate mantras for real estate investors.
But first, while real estate mantras can get you mentally prepared, it is still important that you are financially prepared as well. So, to prepare your finances for a real estate investing career, click the link below for a free strategy call today.
“I have time for what matters”
All too often we talk about being busy. We wear the title ‘busy’ like a badge of honour. While you may have a packed schedule juggling real estate investing and a full-time job, you can still make time for what matters. It’s your job to determine what matters most to you.
If an excellent opportunity arises, your initial reaction might be that you’re too “busy” to take on another project. That might not be the real reason. Maybe you’re scared to take a risk, or you’re not willing to put in the work to become a successful investor.
The best part of being a real estate investor is that you can design your ideal schedule. You determine your work-life balance. By reminding yourself that you have time for what matters, you can prioritize what’s important for your business and your life. Remember this real estate mantra whenever you feel like your schedule is getting hectic.
“I am eager to try something new”
Fear of the unknown isn’t a good reason to let an opportunity pass. No successful investor started his or her career as an expert in the field. They were eager to try something new and continued saying “yes” to new opportunities.
If you want to try something new but are worried that you don’t have enough experience, don’t let it stop you. Maybe you’ve only done residential investing but are interested in commercial real estate. Take a class. Talk to other investors. See if someone will let you partner in their business. Experience is necessary, but you won’t gain any by sitting on the sidelines.
Get into a mindset that doing new and different things is not only good for your business but also something that you are eager to do with this real estate mantra.
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“There is no such thing as perfect timing”
You’re scared to take on new investment because it just doesn’t seem like the right time. Has there ever been a right time for anything in your life? Marriage, children, a job change, your first home – those are all big decisions. If you waited for the exact right moment, you might never have what you want in life.
The real estate market is always changing, which can drive you crazy when trying to find the right time to buy or sell. Unless you’re a psychic, you can’t know exactly what will happen after the transaction is complete. You have to do your best research then trust your gut that you’ll know the right time to make a move on an investment. So, when you are distracted by timings and more, remember this real estate mantra.
If a great investment opportunity arises and your excuse is bad timing, you could miss out on profit. Be prepared so that when opportunities arise, you’re ready to pounce.
“I have the resources to grow”
If you don’t have the cash for an investment, then you just don’t have the cash. There are some moves you can make to seize an opportunity even if you can’t pay as much as you’d like, but you still need resources. However, don’t trick yourself into thinking you are unable to grow.
Where this real estate mantra helps you is in reminding you that you have what it takes to get to that place where you have cash on hand for investments. Maybe you don’t have enough for a 20 percent down payment on hand, but you do have the resources to build that wealth. You have the knowledge, skills and tools to grow your money and reach the point in your career where you’d like to be. Most importantly, you have the drive. You have the power to grab the resources you need to grow your career.
“You miss 100 percent of the shots you don’t take”
Ok, we borrowed this 'real estate mantra' from The Great One. Wayne Gretzky may have been talking hockey, but it applies to real estate investing too.
If you invest in a property, it may not work. You may lose money. That’s the risk you take. However, if you never bought any real estate because you were worried about the risk, you would be a terrible investor. You didn’t lose anything, but you didn’t gain either. While the money seems safer in your bank account than in a property, you won’t gain the experience you need to make a smarter investment next time.
You might lose on an investment deal, but you’ve only truly failed at real estate investing when you quit.
“I control my destiny”
As a real estate investor, you dictate your success. So use this real estate mantra to remind you of that. You decide how hard you’re willing to work, whom you rely on for help, what deals you make and how you manage your portfolio. That might sound like a burden to some people, but not to you. You love this profession because you want to control your destiny.
You are taking charge of your career by earning enough to leave your office job. You are saving for your retirement, for your children’s college fund or to travel the world. People wish they could do what you’re doing – and you made it happen for yourself. Many people will help you along the way, but your future is in your hands.
Next time you have a few minutes, whether it’s when you wake up or when you’re driving to a property, take time to repeat one of these real estate mantras to remind yourself of what’s important and how capable you are.
While real estate mantras can get you mentally prepared, it is still important that you are financially prepared as well. So, to prepare your finances for a real estate investing career, click the link below for a free strategy call today.