Understanding The Investor’s Mindset
What does your real estate business or any other business that youâre invested in mean to you? Is this a long term play or a short term cash grab where your goal is to go in there buy a property and flip a house?. Or are you looking to build something long term?
This idea came from a book I recently read called shoe dog, a book by the creator of Nike. The interesting part about it is that those guys were so passionate about the project and company they were building and providing shoes for people that the majority of them didnât take salaries for a long time, they all worked pro bono, and it didnât see a financial return for a while. The important part of this is that they turned it into a long term vision and as real estate investors or business owners, we have to do the same thing.
This is a long play. Yes, there are opportunities to make money today, but if youâre looking to treat this as a long term company and youâre really passionate about real estate investing in general, treat it like a company and put processes in place. The worst thing you can do is flip a property over and over because then youâll always be worrying about the next one. You must think about your goals and think long term!
Passion plays a huge role in your success. If youâre not passionate about what youâre doing on a daily basis thereâs no point in staying in it because that wonât work in the long term. Make sure you are passionate about what youâre doing day in and day out!
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