Presented by Alan David Kosinski for Real Estate Investors Thunder (REIThunder.com)
The question that I hear the most from both beginners and others who have not made money in real estate investing is “How can I become successful in Real Estate Investing?” After setting goals (see part 1),and building Business Acumen (see part 2), the next thing is to:
Personal Traits you MUST Develop
- Optimism is one of the most important traits of a successful businessperson. It will help you get through the tough times and keep you levelheaded and positive. Use positive affirmations continuously.
- A burning desire to get things done is requisite. This helps you focus better and motivates the people around you. Step up and constantly take actions, relentlessly.
- Resilience is the ability to pick yourself up and get going again. It’s another of the most important traits of a successful individual. Write down daily, weekly, and monthly activities & procedures and follow these plans with consistency, which will keep you on track to become reliable and stable.
- Flexibility is a necessity in every business, but more so when dealing within the real estate industry. Learn to go with the flow and you won’t be so stressed out.
- Integrity and Ethics are paramount in any business. In real estate dealings, they are many times misplaced. Integrity, which can be defined as the quality of being honest and fair, is uncomplicated. Ethics, on the other hand, can be defined as rules and regulations that have been formed that allow an individual to work in accordance to moral principles. The difficulty here is ‘who is making the rules.’ If you are setting your own ethics down in writing ahead of transacting business or there is an industry standard, it is easier to be ethical. However, if there are no predetermined ethics it is very difficult to be objective in the heat of transacting real estate business and failure usually prevails. Unfortunately, the latter is more prevalent in real estate dealings
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Above all else, you will need an excellent base of Correct Worthwhile Education.
There are so many programs for sale to potential real estate investors that it is difficult to find the correct ones that can not only lay down an excellent foundation to build upon, but that will continue to educate you with the knowledge to actually start making money.
This is where ALKO-Wealth Improvement Network comes in. Check out ALKO-WIN.com – you will find that we cover all the topics necessary for Real Estate Investing Success!