Did you know that there’s one thing that will dictate your success in real estate investing more than any other factor? It’s not your finances or your credit score. It’s your mindset that will determine your outcomes. The good news is: is it’s absolutely free to change your mindset.
So on this episode of Investing in Real Estate, I’m going to share five mindset shifts you need to undergo in order to reach your real estate investing goals. Click play to learn five mindset shifts you need to learn to reach your goals.
More About This Show
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Identify and squash your limiting beliefs. A limiting belief is a thought or assumption that you consider to be an absolute truth. Your limiting beliefs are stories that you tell yourself in order to stay in your comfort zone—they could be conscious or unconscious. The hard part about untangling your limiting beliefs is that sometimes they’re very deeply rooted into your mind — but it is possible to do!
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Question everything. Asking questions is a powerful tool. When you’re on a mission to build wealth, it’s critical that you ask a lot of questions. Especially when it comes to following traditional financial advice, I think we should all be asking more questions. In my opinion, a lot of the common advice we’ve been taught about saving, investing, and planning for retirement falls short.
- Set realistic, individualized goals. If you want to be successful, you have to set goals that are meaningful and specific. Setting a long-term goal will help you stay motivated in real estate investing. In my humble opinion, the best way to do this is by utilizing my Freedom Number Cheat Sheet. It’s a free download that contains a formula that will help you determine how much passive income you’d need to be financially free. You can download the Freedom Cheat Sheet for free on my website, morrisinvest.com/freedom.
- Learn strategies for dealing with fear. Everyone encounters fear when they’re trying something new or taking risks. While you can never completely eliminate fear, what you can do is start to think about your fear differently. You could talk through it with someone you trust, try to reframe your worries, explore it through journaling, and most importantly, determine if those fears are realistic. Remember that you get to decide what to do with your fear – will you let it hold you back, or will you push past it to reach your goals?
- Tap into a growth mindset. Having a growth mindset means that you understand and believe in your abilities. When you live in a growth mindset, you aren’t stuck where you are, you can always change and evolve. This is where real empowerment comes from: knowing that you are capable to create change. Investors who lead with a growth mindset are better able to handle challenges, persevere through setbacks, and are more likely to reach their goals.
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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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