Why bother with “mindset?”
Simple. Because the cost of NOT adjusting your mindset is outrageously expensive (in opportunity loss)! If your mind isn’t conditioned to think like a wealth-building investor, you are like a sailor paddling around in a boat with holes in it. If you bail water quickly enough, you’ll keep it afloat, but you will eventually tire…and sink!
ALL money-making endeavors begin with a thought. They are all ideas born in the mind of an investor. Some have more and better ideas than others. Why is that? Are some minds better conditioned than others? I say “yes!”
In our society there is often resistance to conditioning one’s mind, but nobody thinks a thing about going for a jog, or hitting the gym to condition their body. Does that make sense? If you walk the entrepreneurial path, mental conditioning is central to your business.
Simply put, if you don’t develop, and then fine tune your mindset you will either:
– Never quite get around to investing in real estate (if you have not yet begun) and forfeit the wealth you want to attain for you and your family.
– Never quite get where you want to go in your investing (if you are already investing), and forfeit the wealth you intended to attain for you and your family.
You see, a lot of people have enough knowledge to invest in real estate. Far fewer DO it. Why is that? Because far fewer have bothered to develop the mindset that conquers fear and other hurdles to investing in real estate. Frankly, it doesn’t matter how much knowledge you possess about investing in real estate, you WON’T do it if you haven’t conditioned yourself to think like an investor.
Since the investing won’t be successful without a properly conditioned mind, it can be considered the most important aspect of learning to be a real estate investor!
Mindset is the foundation of real estate investment. In other words, if it’s not solid, you cannot invest successfully. There’s no know plain-er way to put it.
There are scores of folks who have WANTED to invest in real estate. Invariable we hear, “I’ve thought about doing that.” Sometimes “I looked into that.” Sometimes they proceed to ask questions, but you find that most of the time the next word after the previous phrase is “…but” and then I an excuse.
These excuses range from “I couldn’t find any property” to “the numbers scared me” to “I couldn’t get a mortgage.”
The truth is these excuses have solutions, but they don’t yet have the mindset to overcome these relatively minor hurdles.
The mindset of a real estate investor is not just about having a positive attitude or being optimistic. It’s about cultivating a specific set of beliefs, values, and thought patterns that drive behavior and decision-making. It’s about developing a mindset that is:
– Focused on long-term wealth creation
– Willing to take calculated risks
– Resilient in the face of obstacles and setbacks
– Disciplined in financial management and planning
– Open to learning and continuous improvement
– Proactive in seeking opportunities and solutions
Without this mindset, even the most knowledgeable investors will struggle to achieve success. They will be held back by fear, doubt, and limiting beliefs that prevent them from taking action and making progress towards their goals.
So, how can you develop the mindset of a successful real estate investor? Here are a few strategies to get you started:
– Surround yourself with positive influences and supportive people who share your goals and values.
– Educate yourself on the principles of real estate investing and wealth creation.
– Set clear and specific goals for your investing career.
– Develop a growth mindset and be open to learning and improvement.
– Practice discipline and resilience in the face of challenges and setbacks.
– Focus on solutions rather than excuses.
By cultivating the right mindset, you’ll be better equipped to navigate the challenges of real estate investing and achieve the wealth and success you desire. Remember, the cost of not adjusting your mindset is too high to ignore.
Babajide Okusaga & co are Chartered Surveyors and Real Estate Consultants with expertise in Agency, Investment, Management, and Syndication (AIMS). We are known for being client-focused and results-driven, aiming to connect clients with their specific real estate needs such as sales, letting, joint ventures, and partnerships.
We dedicate time and energy to ensure clients’ satisfaction by helping them find the best-suited real estate solutions. Whether it’s leasing office space, financing a first home, purchasing a new factory, or managing an investment portfolio, Babajide Okusaga & Company caters to the considerations of corporate entities, individuals, and High Net Worth Individuals (HNIs).
Contact 02013423872 for Enquiries.
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