The real estate business if full of action oriented individuals. Anyone can have a good thought but few spend the time and effort putting it into action. Without action your business will not get too far off the ground. If there is something holding you back you need to get to the bottom of exactly what it is. Some investors are afraid of failure while others are intimidated by the process. It is only when you start taking action will you see all that wonderful things that real estate can do for you. Here are six ways to help turn thoughts into actions and make you a successful real estate entrepreneur.
- Research Everything. One of the reasons why you may not be taking action is because you aren’t quite sure of what you are supposed to do. Uncertainty can create hesitation in even the most confident individuals. If you are on the fence about something take the time to research everything about it. It is easier than ever to find the answers you are looking for. By doing your homework you may miss out on the next deal but you will be much more confident moving forward. The real estate investing business has a lot of moving parts. You don’t have to be an expert in every aspect but the more you know the easier it is to act.
- Prepare To Sacrifice. Prior to diving head first into the business you need to change your mentality. Instead of thinking you are due success you should prepare yourself to make sacrifices. When you are just starting out you need to grind much more than you may realize. This is a part of the business you don’t see on reality TV. Making sacrifices puts you in the right mindset to take action. You are willing to live with the consequences regardless of where they take you. For as much success is possible in real estate it doesn’t happen overnight. As you commit to taking action you should also commit to doing whatever it takes to succeed.
- Find A Deal In Your First 90 Days. Turning thoughts into actions has a lot to do with your success. It is human nature to find motivation when things are going well. This is one of the reasons why your first 90 days in the business is so important. It sets the tone for which way your business is headed. As you think about which actions to take you should focus on those that can produce an immediate return. A long term business strategy is always important but you need to get there first. If you have immediate success it will prompt and motivate you to do more. Make your sole focus finding and closing a deal in your first 90 days in the business.
- Do As Much As You Can Yourself. Part of taking action is not waiting for the people around you. As you are considering which action to take you should make it a point to do everything you can. When people outside of the business think of real estate they think of buying and selling properties. Obviously this is a big aspect but far from your only task. You are a marketer, negotiator, handyman, accountant and more. Soak up as much as you can by talking, listening or watching everyone around you. Having knowledge in as many different areas of the business as possible allows you to take action without relying on other people.
- Focus On What Is Really Needed. When taking action you need to consider which actions are really needed. It can be easy wasting time and energy on tasks that don’t produce an equal return. There are many investors who won’t take action until they have everything perfectly in place. The reality is that you may need to work out of your house until you close a handful of deals. If you have to get started without a website or other resources that is ok too. Not everything is going to be perfect in your business at all times. This shouldn’t stop you from taking action.
- Embrace Creativity. One of truly great things about the real estate business is that you can run it any way you like. There are no limitations or boundaries for what you can and cannot do. If you have a niche or a marketing option you have been researching than by all means go for it. As long as you put the time in and understand all of the risks associated there should be nothing holding you back. You should never let fellow investors or the people around you influence what you do. This doesn’t mean you shouldn’t listen to others or take advice but you should feel comfortable forging your own path. The best real estate investors are those that aren’t afraid to be different and think outside the box.
With so many new investors entering the business there is not too much separation. The biggest difference between any two investors is the amount of action they take. Anyone can proclaim what they want to do and how they are going to do it. Unless they actually do it nobody will ever know. Many investors have business changing ideas and strategies that they never act on. The most successful investors are the ones that act on them.
