Today, Dave Pelligrinelli talks to us about keeping focused the desired results instead of the obstacles you run into.
By reminding yourself why you got started in the first place, it will help get your mind off the diversions and allow you to stay motivated.
Mike: Welcome back to the FlipNerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Dave: Hello, FlipNerd fans. This is Dave Pelligrinelli, your host for REI Classroom. Standby. Right after the break, we have another great subject for you.
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com.
Dave: Okay, we’re back. This is Dave again from AFX Research and TitleSearch.com. Today, we’re going to talk about mindfulness and using your own internal drive to power the results of your real estate investing.
One of the obstacles that we see with investors, both new and experienced, is the loss of the drive to either to that first deal or to stick with the deals you’re working on. One of the things that help us to use that lure, that lust for the result to keep you moving forward with your deal, with your business plan, with your overall strategy of making money and by keeping your focus on the end result, it gets you moving towards that result, even if there are obstacles.
Sometimes, on any given day, there are going to be problems that come up. It may be a lending problem. It may be dealing with sellers. It may be dealing with finances of that deal. There may be expenses that come up. Even problems with the property can be obstacles to keep you moving forward and may be discouraging, even to do that first deal when you start to wonder about, “What’s going to happen if there’s a lien on the property? What’s going to happen if the AC blows up?”
Keep your eye on the final result that you’re looking for, that $10- or $15- or$20- or $50- or $100,000 profit that you’re planning for in that propert. By doing really good preparation and really good due diligence, you know that that result exists and having that vision power your movement towards that goal is important. Think about other examples. Think about a shooter shooting at a target with a gun. You’re looking at the target, you’re not looking around. Thinking about a pilot landing a plane. He’s looking down the runway where he’s going to land. Thinking about a basketball player shooting a ball. He’s looking at the basket.
The same thing with real estate investing. Look at the result that you’re trying to get to and keep focusing on that, not at the problem at hand in front of you, not at the fact that the seller won’t call you back, that the lender wants more paperwork, that the contractor upped their estimate on fixing the porch. Eliminating those diversions that can sidetrack you from keeping going forward with your plan, whether it’s on that one property or your plan in general of looking at multiple properties. This is what sidetracks any businessperson, especially in the real estate investing industry because you have only yourself to motivate you. You don’t have bosses and other people that force you to do these things. So you have to have your own internal drive.
Using that mindfulness and that results-driven power will keep you moving forward to the great results that you see with your colleagues and other people that are experts in your field. Hopefully, that will give you some motivation to keep going ahead with your deals. Again, this is another great addition of the REI Classroom. My name is Dave Pelligrinelli. I’ll look for you on the next episode.
Mike: HomeVestors, the “We Buy Ugly Houses” folks, is a franchise system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all, but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
Please note, the views and opinions as expressed by the individuals on this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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