Tobias McCosker | 10 Ways to Maximize Your Performance As a Real Estate Investor

Now, this is often not a scientific study. I failed to venture out and survey 5,000 realty investors and determine who were successful and who weren’t then take a look at the characteristics that shape their success (or lack thereof). From Tobias McCosker’s point of view, This is often supported by years of private investing experience and what we’ve learned from other successful realty investors.

If you lack these traits (or characteristics), there’s an honest chance you’ll under-perform as a true estate investor. you do not need to have ALL of those, but the more you have got, the more likely you may be highly successful.

Passion — I feel strongly that if you have got passion, real passion about land (and investing in it), you’ll perform better than if you do not. We all know quite a few investors that aren’t smitten by assets that are successful but they feel drained and wish to depart the business.

According to Toby McCosker, the sole reason they do not leave is that it’s making them money… but they are not having fun and that they aren’t making the maximum amount of money as they might (I think) if they were addicted to it. Besides, why spend the most time, energy, focus, and money on something you do not love? Life is simply too short!

Mental strength — There are such a large amount of times where you’ll want to merely surrender because you’re doing most work mentally. Challenges like insurance issues, and property financing troubles, and tenant challenges are a part of the business of assets investing — be strong and you will act.

And by the way — the more physically fit your needs are — the higher you’ll perform mentally. That’s a proven fact that has been proven by scientific study.

Belief — Nobody, and that I mean nobody will (or should) believe you the maximum amount as you are doing. If you do not really believe that you just are often a successful land investor, then you will further stop trying.

There’ll be times when it looks as if you’re the sole one that believes in what you’re trying to try and do so you have got to be there for yourself! you must also surround yourself with folks that believe and support you… but that’s a special point.

Guts — You’ve got to be willing to travel the other direction from the remainder of the people you recognize. you have got to be able to make your own decisions and have the heart to require action on them.

This can be not a simple thing to try to especially after you first start out. And, to continue and advance as an investor you may still need guts to undertake new assets strategies and techniques.

Integrity — Sadly, I’ve got met many people who became successful without integrity but I feel that their success is probably going only financial. I’m confident they do not have the relationships nor the private satisfaction that comes with doing business with integrity.

Doing business in a very way that treats everyone with respect successively causes you to easier to respect and like… and makes it easier to draw in the oldsters which will facilitate your grow your business.

Focus — This can be probably the foremost underrated trait or action for becoming successful. If you lack focus, it’s still possible to become successful. Heck, over the years I’ve got had trouble staying focused but I’ve got still performed fairly well within the REI game.

But, my lack of focus has certainly played a very important role to keep me from reaching my full potential. And, the most effective part about focus, together with most of those other traits is you’ll learn it/them!

Communication — If you dislike reproval people, emailing, or simply all-around don’t communicate well with others, good luck performing and being successful with assets.

You have got to speak constantly with realtors, mortgage brokers, banks, accountants, lawyers, vendors, buyers, tenants, appraisers, inspectors, contractors, the list goes on and on.

If you are not a minimum of somewhat effective at not only getting your point across but also being a decent listener and understanding others, dump being within the REI game.

Hustle — Lining up your venture partners, obtaining financing, managing all the appraisers, inspectors, realtors, placing and showing tenants the property all require an oversized amount of hustle.

Sure, you do not must hustle three hundred and sixty-five days a year to perform well, but you sure better be ready to hustle on every occasion a deal starts to come back together!

Commitment — Are you committed? Really committed to being a tremendous investor? Are you making it a priority every day that you simply do something that may move you towards your goal of being a true estate millionaire?

Now, you do not should do something every day, but your level of commitment is directly associated with becoming better, stronger, faster, smarter, and wealthier. No commitment = Little to no payoff.

Persistent — In my humble opinion, this is often absolutely the foremost critical reason why some asset investors underperform. If you wish to achieve this business, you’ve got to be persistent. You may find the simplest deals by continuously following abreast of opportunities.

You may secure the simplest financing by continuously trying to search out a stronger option. If your partner backs out at the eleventh hour you’ve got to select up that phone again and again until you discover a brand new partner. Keep trying, keep pushing, keep being persistent. don’t quit.