What I'm about to say may shock you. You might even disagree. But please don't take it personally.
Here it is...
Real estate tactics are most likely not the key to whether or not you succeed or fail as an investor.
Here's why – and follow me here...
In my 13+ years in the real estate investing game, I've known a lot of investors.
Not only have I been interacting with you guys for a long time here at Real Estate Mogul, but I’ve also been collaborating with thousands of other investors through my REITips blog and my REIology podcast – and don't forget I started and ran my local REIA group for 6 years before retiring from leadership there.
Through all this, I've known and interacted with about every type of investor you can think of, at every experience level, in places all over the U.S.
And here's something I've noticed: Some investors make it and some don't. (Duh, right?)
But here's the kicker...
Of all the investors I've known who ultimately did not make it – I mean the ones who either willingly got out of the business, or were ejected by some jarring, epic failure…
...in every single case, their reason for failure had little-to-nothing to do with their knowledge (or lack thereof) of any specific real estate investing strategy, tactic or method.
Instead, hands down, their failures have consistently been driven by some form of self-sabotage.
It was some mindset flaw – some inner demon of the mind – that led them towards their (I now say “inevitable”) demise as investors.
Here's where I'm going with this...
Your inner game matters – so much more than you probably know.
Sure, we all like a good Jim Rohn quote, right? Or a good Tony Robbins video clip. Nothing like a little “pump-up” to make you feel energized and ready to tackle the world.
But that's not what I'm talking about.
What I'm saying is this: Most of us are guilty of believing that the general "feel goodery" of working on our mindset is merely a single cog in the wheel of becoming a successful real estate investor.
We know the mindset component needs some attention, sure. But deep inside, we tend to believe that what really matters is mastering all the latest and greatest real estate tricks, tactics and methodologies that your inbox reveals to you every day.
That's what'll really get you where you're trying to go as an investor, right?
FALSE.
I say, your mindset is not a spoke in the wheel...it's actually the hub. It's the starting point for every other spoke in the business you're working so hard to refine and grow.
And with a seriously flawed mindset/inner game (i.e. a bad "hub") every other spoke is basically useless to you.
Make sense?
Moral of the story is this...
If you want to be included among the few who make it big and have staying power in this business, then you need to seriously reset your mind on this whole "mindset" thing.
Commit to your inner game.
Resolve anew that you are an avid student of yourself.
Sharpen yourself daily.
And do it with the very same gusto and fervor that you do when you crack open whatever new real estate tactic or strategy you're wanting to devour next.
Understand – Understand that most (if not all) terminal failures in professional investing are driven by some form of self-sabotage by the investor himself.
Commit – Commit to nurturing your own “inner game”.
Invest in Yourself – Resolve anew to be an avid student of yourself, and sharpen yourself daily, through healthy introspection and/or education and/or conversations with others.
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.