Are you a first time investor – Break these habits to be successful

by admin

Posted on November 15, 2017

first time investor break these habits to be successful

Serious wealth creation in the field of real estate requires a lot of things than money alone. Let's have a look at some of the habits that can ruin the whole process and have adverse effects on the first time investor.

  • Perfection is the enemy of execution– At the outset, when getting started as an investor it can be tempting to tie yourself to certain standards and perfection is one of them. When you give emphasis to perfection over certain processes, there is not only chance for failure, but you gift yourself some added stress. If truth be told there are quite a few things that are out of an investor's control, especially when it comes to getting started in the business of Investment properties in West Florida. The hard truth is that you will be making mistakes and where there are chances for any deal to fall through and your financing might disappear, the marketing campaigns arrive with a thud. So, a far better approach is to give emphasis to process over results. Seeing that one can have control over process, this is the best way as long as it is sound and backed up by precautionary standards.
  • Vague objective: have a clear vision and mission and set goals that are tangible and clear. To put it simple, you have probably heard the acronym SMART goals, so stick on to it. It is nothing but Specific, Measurable, Achievable, Results-focused, and Time-bound.
  • Favoring activity over impact: Easier said than done, this is one of the most difficult habits to break, that's because it's enticing to baffle activity with actual progress in your business. Come up with tasks that are very important and prioritize them and then work on one important task until it's done. Don't think of moving to another task until the one that you have taken is done. Even though it is quite difficult to pull off, by bringing this level of discipline and focus, the chances of being more productive and enjoyable is high.
  • Comparison– When you compare yourself with other real estate investor both professionally and personally, with whom you have come in contact during building your real estate network to do Investment properties in West Florida, the chances of tagging their strategies sometimes doesn't work, follow your goal because everyone's goal is different. Do your best to stand firm the urge to constantly compare yourself to others; even though it is quite challenging, during such times, commit to memory that you are on a journey, not a race and you are venturing something that most people only dream about.

To sum up, take out the less than helpful habits and work out on the strategies that you have set to make up.

Tags: , ,