The Four Habits of Highly Successful Real Estate Investors – Episode 1030

What does it take to become a highly successful real estate investor? Your mind might immediately run to things like income or returns—but the truth is that what marks your success is ultimately rooted in your mindset and your habits.

On today’s show, I’m sharing four simple and realistic habits of successful investors. These four traits are shared by every successful real estate investor I know – and they’re simple enough that you can begin applying them today.

More About This Show

1. Successful investors possess a strong why that keeps them dedicated. Every successful investor has an underlying motivator, and it’s not just about the money. Let me give you a few examples: to be able to spend more time with your family, to build generational wealth, to build confidence.. or maybe you have a specific retirement envisioned, or you want the freedom to travel. There’s no wrong answer here – it’s about asking yourself how investing can improve your life. Your why is an incredibly powerful tool because it will serve as your guiding light when you get bored, distracted, or unmotivated. Trust me when I say that all successful real estate investors are dialed into a clear sense of purpose. If you don’t have a strong why yet, you can start developing it today. Start with this question: “how would reaching this goal add value and meaning to my life?”
2. All successful real estate investors are focused on a long-term goal. Having a goal in mind is foundational to your success as a real estate investor. There are many ways to set a goal, but my personal favorite of course, is the Freedom Number. If you’re unfamiliar with the Freedom Number, it’s a formula that I developed and utilized in order to build financial freedom for my own family. You can download my Freedom Cheat Sheet for free at morrisinvest.com/freedom. The cheat sheet will walk you through counting your monthly expenses. Then it will give you a formula that can help you determine how much passive income you’d need from real estate in order to be financially free. All successful real estate investors work with a goal in mind – so I encourage you to set one today. Whether you use my Freedom Cheat Sheet or not, setting a measurable goal can change everything.
3. Successful investors face obstacles head on. Every single business, including real estate investing, comes with its fair share of difficulties. Real estate investors are not immune from hardships. From vacancies and damages to unexpected expenses… things are going to pop up. But successful investors don’t think about quitting when things get hard. Instead, they see obstacles as learning experiences, and they don’t let anything stop them from reaching their goals. Once you learn to reframe the hardships in your life and in your business, and you’ll be happier and more successful.
4. Successful investors understand the ups and the downs of the market. They pay attention to what’s happening in the market. And because they’re always aligned with their long-term goals, they continue to buy real estate through the ebbs and the flows of the market. Successful investors know that time in the market is far more important than trying to time the market. As we discussed before, investing in real estate is a long-term strategy. So if you get bogged down by things like inflation or interest rates, you might never take action at all. The market is always changing, and its conditions are always out of our control. Successful investors know that the only thing they have control over is their own strategy.

To quickly recap, successful investors have a strong why and a long-term goal to keep them motivated. They view difficulties as learning opportunities, and they stay informed yet unfazed by the swings of the market. I hope this video encouraged you to take on some mindset shifts that will enable you to build long-term wealth and build wealth through real estate investing.

Episode Resources

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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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