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Motivation: The Keys to Success in Real Estate Investing

Trio of Darts Hitting the Target’s BullseyeStaying motivated is fundamental to success in real estate investing in Lakewood. But it can be difficult to keep yourself motivated. Life does give some lemons and it’s not very easy to make lemonade out of them every day. Sometimes, a bad day is a bad day, and if you get too many in a row, it could interfere with some important investing tasks. The next thing you know, you’d have lost the energy and determination that property investing requires. Inspirational speakers and authors go around the country talking about an instant or magic fix to a lack of motivation. It really doesn’t work that way. There is no quick-fix. Sustaining motivation is a habit that can be learned. It’s a habit that one improves with practice, not unlike how the physical body responds to exercise. Here are five key ways, taken from the myriad advice on this topic, that property investors like you can use to find and sustain the motivation you need to succeed.

1.     Visualize Your Goals

The secret to most entrepreneurial success starts even before the work. It’s setting goals. But a more powerful exercise would be to visualize your goals as if you’ve already achieved them. This is something professional athletes do. They visualize their performance before they ever take the field. Now, if you can do the same and see and feel your goals in your head, you will be better prepared to stay on track to reach them.

2.     Set Intermediary Objectives

Not all goals are the same. There are big goals and there are small goals. The biggest goals may seem like a noble challenge, but what really happens is that they just seem overwhelming and can cause us to lose focus, especially if it would take a long time to accomplish them. Here’s a pro tip: Break large goals down into smaller intermediary objectives that you can achieve more quickly, and then give yourself a reward when you do. They often call this “chunking” or “clustering” and it’s an effective strategy used by motivational gurus and life coaches. This strategy creates a positive feedback loop that inspires you to do more. Just like what happens when you hold a microphone to its speaker, it produces a shrill sound because of the feedback loop it creates; in the same way, the achievement and reward cycle builds up to give you great motivation.

3.     Strategize with Flexibility

Achieving our goals exactly according to plan is actually very rare. Things change no matter what we do, and sometimes the changes don’t fit well with our plans. Instead, it would put our carefully-thought-out investing strategy at risk. Should there come a time when life throws roadblocks at you, the most ideal attitude to have is to remain flexible. When your original plan falls through, adjust and adapt. Don’t hesitate to call for the aid of others to find creative solutions.

4.     Plan to Fail

You are going to get tired, lose interest, and want to quit. It happens to each and every person in this industry. At any moment you experience this, you can fix it if you’ve planned ahead of time how you will manage the moments when you just don’t feel motivated. Try to get lots of inspirational examples of extreme endurance to assist you when putting things into perspective. Or let yourself enjoy a moment to rest and recharge. Do everything you need to do, just don’t give up!

5.     Find Your Reasons

Why are you a property investor? If you can’t respond to that question straightaway and with passion, try giving yourself some time to perceive what your actual reasons are. Real estate investing is a marathon, not a sprint, and therefore it’s imperative to cultivate a long-term view to help sustain motivation. With sound and well-expressed reasons, you can utilize them to push and remind yourself of your “why” so as to keep moving toward your goals.

In Conclusion

The most significant factor to comprehend in terms of motivation is that it is a very personal thing. Hence, it is relevant to determine what your motivation is and what keeps you moving toward your goals. One thing that every single investor can do is to delegate many time-consuming tasks, like property management, to qualified experts. At Real Property Management Southland, we aid or help property investors care for and protect their rental homes in Lakewood, freeing you to pursue your larger investing goals. Contact us or call us at 562-372-7722 to talk to our qualified specialists.

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