There is no room in your business for a “Debbie Downer”. Whether it’s a family member, friend, or yourself, don’t let negativity sway you from reaching your highest potential as a real estate investor!
Questioning every decision you make isn’t uncommon when you’re starting something new but many people let their fears take over and they end up never getting started.
You need as much support and positivity that you can get when you’re starting out in real estate investing. It can be a very lonely business and without someone supporting you, it’s easy to get down when things aren’t going the way you thought.
Not to mention, most appointments you’ll go on will not turn into deals. A small percentage of leads turn into deals and going on 10 buy appointments without a deal can be frustrating. It’s important to remember that the small percentage of deals you do can still bring in nice profits so don’t get discouraged.
Set Short-Term and Long-Term Goals
It’s important to set obtainable short-term goals along with bigger long-term goals. This way your goals are within reach and you can work on an plan to hit that goal in a relatively short period of time.
Otherwise, it’s easy to get down on yourself because your one big goal is so far away, it seems like you’ll never reach it.
Sit down and think about multiple small goals that you want to accomplish. Consider what steps it will take to get there and what time frame is reasonable to give yourself. By doing this, you’ll be able to noticeably see your progress.
Celebrate your small successes as well.
Did you get your first deal under contract?
Did you secure lending with a private lender?
Did you go on your 10th buy appointment?
These are all accomplishments that are worth a pat on the back. Keep yourself motivated and as you hit your goals, set new ones!
Don’t Compare Yourself to Others
There are always going to be investors out there that are talking about making 6 and 7-figures a year and closing dozens of houses each month.
That isn’t necessarily the norm!
While it can be good to know how many deals other local investors are doing each month, don’t set that as your new standard.
It isn’t a competition.
Focus on your business and how you can make it the best it can be.
Instead, compare your previous months to your current month and keep striving to do better. If you did 2 deals one month, try shooting for 3 deals the next month.
Have a Support System
Real estate investing can be lonely. Like we mentioned above, you’re going to be told “no” more than you’re told “yes”. This doesn’t by any means mean that you’re not successful; it’s just part of the business.
Having a family member, significant other, business partner, or friend on your side to help support you can keep your spirits high and help hold you accountable.
Some investors prefer to have someone with them in the business to bounce ideas off of each other and to delegate tasks based on strengths. Finding a partner that compliments your business style is important to avoid conflict.
Regardless of who it is, have someone you can lean on and grow with.
No success is too small.
Your business is your own. Break down barriers and strive to be YOUR best.
Stop comparing yourself to other investors and focus on how you can improve your business and make it more efficient.
There will be struggles but it’s how you deal with them that matters.
Plan out your goals for your business and hold yourself accountable for achieving and surpassing them!