Okay moving forward, what about studying. Well this is a simple one yet an easy one to misunderstand. Many Real Estate investors think that by getting a book, taking a class, or going to a seminar is all the studying they need. Well I have big news for you.   

 

You have to be studying every week, every day, every hour. You don’t necessarily have to be reading about it through a course, but you should or must listen to the news or TV, when talking with others, or when traveling anywhere. Real Estate is everywhere, it’s where we all live, work, and play. 

 

You need to be updated everyday with what the media is saying so you can have a better understanding of how the majority of the people feel today in the industry. This will give you more negotiating power. I say this because most media doesn’t do real estate so therefore they don’t truly know what’s going on, but they do put the fears or excitement in people.  You have to understand what type of fear or excitment are people are listening to and use it to your advantage.

 

When talking with others you gain the possibility of a real estate deal coming your way first hand. When I say first hand, I mean fresh, they have never talked with a real estate investor, agent, or anyone. They are lost and need a solution and the first one they talk to can be the deal maker.  You have a competitor edge because you can present them with a solution that they wont need to find someone else.

 

When you travel for work, for errands, or just for enjoyment look around and see how you can turn this into a business trip so to speak. For instance, you can see how the area is holding, does it look nice, ugly, or like somewhere you want to live in.

You are basically exploring the area for its “attractiveness.” The more it is the better your investment property will pull money from it.

 

Okay now for the last subject in this quote, the eternal desire within. Without this all of the above will be just be like a job to you.  And just like a job you will eventually tire of it, hate it, and want to quit it.   If you are one to say they love what their job is and you truely enjoy going to work, then it is no longer a job, but a passion.  But let us not get out of subject.

If you have a desire to help people and sale properties (ultimately we are all sales people) then you won’t see real estate as a job and you will have a way better chance at surviving in this industry. You will have fun with it and with fun you will come up with better ideas and surpass your competition that treats real estate as a job.

 

Let us take real estate agents for example. I use them because most enter this field as a job. There are a few who truly enjoy this profession and if you search for them, you will find them to be extremely successful, even more successful than some investors. Most fail at this profession or struggle with it and here is why.

 

When you are searching for an agent, which I believe is a key player that you must have, you can eventually tell who is treating their profession as a job or as a business they enjoy. You will be able to hear it in their voice, see it in their eyes, and feel it whenever they are around and showing you the properties. Eventually this attitude will either lead you to deals or no deals.

 

Well the same way we feel about them is the same way our “customers” feel about us. They can see, hear, and feel if you are truly trying to help them (enjoy the task) or just trying to make money (seeing it as a job to get by). And when you are investing as a job, you wont present yourself to the fullest, you wont be able to come up with best ideas, you wont be able to negotiate as good, and those you talk to wont feel comfortable to give you the right information to make a deal happen.

 

So to sum up everything I just said, be persistence because we are living in a persistent world and everyone wants to get the best deal from the next person. You have to be studying the market every hour so you can get a better competitive edge and negotiating skills, and last but not least you must have the desire to help and sale to others.

 

Hope you enjoyed this blog and remember to grade it, comment on it, and most of all implement it.

 

Till next time, this is your quote editor,

 

Livy.