5 Qualities of 5 Real Estate Beasts
In my podcast, I often speak to my guests – real estate investors, most with thousands of units – about what it takes to be successful. And I hear the same thing time and time again, not only from them, but from successful CEO, speakers, and authors in other fields.
That one thing required to build success is to have an unstoppable mindset.
They not only decided WHAT they were going to work on, but also that they would be successful at it – the same way an athlete visualizes themselves winning a race before it has even started.
So, here are 5 qualities to you must cultivate if you want to become a real estate beast:
1) Maintain an Obsessive-Like Focus
In one of my podcast interviews, Stefan Aarnio, a successful real estate entrepreneur and author of 6 best-selling books and training programs on real estate, emphasized the need for focus and control to get what you want out of life. He said that focus was his key to building his multi-million dollar portfolio.
Like looking through a clear telescope to a distant object, you must have focus on what you want. That focus will pull you to where you want to go. Notice what I said: it will pull you, not push you toward it. You need to ask yourself, “What am I focused on and will what I’m doing now support where I need to go?” If you lose that focus or are distracted, you begin drifting and wandering and never meet your goal.
The thing is, whatever we focus on, expands and when you focus on the right things, great things happen. This is why you must pay attention to what you are saying to yourself and your team on what you want to happen and when. If you and your team are all focused on the same goal and the message you are delivering is clear, that is how you develop certainty.
I personally spend my time on things that pull me and support my focus and reduce or even eliminate things that do not support what I am focused on. For example, I stopped watching TV or movies that are unrelated to my focus. I want to reduce any chance of getting knocked off my path. I work at building my unstoppable mindset.
2) Take Time Out to De-stress and Eliminate Negative Emotions
In my interview with Ivan Barratt, he specifically took time out of running his 3,500-unit portfolio to train for Spartan Races. For him, it’s a source of de-stress and he understands that a healthy body will support a positive life.
You see, you are in control of a great tool: your own body. To manage this tool properly, you need to remove stress and eliminate negativity when you encounter it. If you allow negative and stressful scenarios into your life, you will not be performing at your best.
One thing you can do is to work up a sweat at the gym every day. There is nothing like getting an early workout in before the day and concentrate on building the strength you need to take on the day. If you maintain a healthy body, your mind will stay healthy as well.
3) Build Your Emotional Quotient
One of the great things I’ve noted is that these successful people were not only excellent leaders, but they also had great interpersonal skills and they know how to communicate clearly whether it be verbal or nonverbal.
As real estate entrepreneurs, we deal with people all day, every day. Your Emotional Quotient is one of the most important skills you need to master as it will undoubtedly affect your bottom line. Aside from being self-aware and conscious of how you are interacting with others, you need to communicate your opinions and needs in a direct way while still respecting others, utilize active listening skills and empathize with people with differing opinions and situations.
As you start building these skills, your leadership skills will emerge as well.
4) Don’t be a Perfectionist and Remove all Negative Self-Talk
While in the green room speaking with Reed Goosens I recall him saying that he left his home in Australia for the United States, it required that he believed in himself enough to succeed. Since moving to the States in 2011, he has been involved in the acquisition of over $60MM worth of real estate. But, it wasn’t without learning some lessons along the way.
If you, in contrast, tell yourself “That was so stupid” or “What the hell is wrong with me?”, you are losing control of your mind. You are self-sabotaging yourself without even knowing you are doing it. We’ve all been guilty of dwelling on the negative. It’s part of the human condition. But if we let that gloomy self-talk become a habit, it will make you depressed, anxious and stressed and keep you from your goals. So, rather than going negative, re-frame the negative thought into a more positive one.
5) Use Powerful Imagery
As an experienced life coach and real estate investor controlling over 1,000 units, Gino Barbaro has helped many of his students achieve new heights in their real estate business. A big part of this was creating an image of what you have in mind and making it real. He spends time thinking about what his world will be like before creating it.
So, write down your goals in the present tense as if you already have in your possession every single day. Then, create a vision board that supports your goals. You may not know how you will get there, but once you have the vision in place you will ask yourself if whatever you are doing is supporting those goals you promised yourself. If your mind and body are aligned – and you create a vision of what you want to happen – your brain will want to take you there.
Anyway, what are you doing today to make you into a beast? Let me know in the comments. Also, check out our podcast on iTunes and Stitcher and subscribe to the new YouTube channel. We are working on getting new content out every day to help you build your success in the world of multifamily.
Be great.