290 – Getting a Winning Mindset

We’ve spent this week talking about setting goals, and today I want to talk about a very important factor in your success. On Wednesday I shared with you that massive action is the key, and it is. But in order to take massive action, you have to get yourself in the right mindset for this business. That can be the hardest step.

What do I mean by mindset? I’m not talking about affirmations here. I’m talking about what will often keep you from taking action: fear. The surest path to failure in this business is fear and inaction. The two go hand in hand; fear leads to inaction. You don’t do anything because it’s too scary. That is the biggest problem that investors, especially beginning investors, have. I talk to a lot of you about this. I’ve given many answers to specific questions, and specific steps to take in the business. But often, not knowing these things is not what’s stopping you. What’s stopping you is fear.

How do you break through fear? I’m assuming the  vast majority of you have ridden a bike. I’m pretty sure you were nervous about it at first, and I’m pretty sure you fell and got scraped up a few times. But you got back up and you did it anyway because you wanted to do it. What about your first day of school? You might not remember but I guarantee you were scared. What about the first time you asked someone out on a date? Real estate investing is not any different for these life experiences; you’re scared and sometimes it works out and sometimes it doesn’t, but you still do it. And if you get help and direction from someone who knows what they’re doing, it’ll work out way more often than not.

You will make mistakes when you start in real estate. But the sooner you make those mistakes and take those first steps, the sooner you can learn for them, get past them, and go on to do great things. This business is simple. It’s scary when you start, I’ll grant you that. But for me, real estate in a nutshell is: Find a good deal, get it under contact, wholesale it to someone else or buy it yourself, and, if you buy it yourself, either flip it or hold onto it for long-term investment. Repeat. That’s it. The hardest part is dealing with fear, and doubt, and procrastination. But I get through those things because I know why I want to be in this business.

It doesn’t take brains. It takes guts, faith, and belief in yourself.

If you can conquer your fear and take massive action, you will find success.

About the author, Mike

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