By Tim Gorman
Most of us have tried to succeed at something in our lives, only to make the unwelcome discovery that every way there is to succeed, there's probably a hundred times that many ways to fail. This is just as true of real estate investing as it is of any career. Spend some time improving the odds in your favor, and you might be surprised at the difference it makes! There are many important steps you can take to make sure your chance of succeeding is high, and training your mind is one of those.
So how do you make a fortune in real estate investing and avoid the possibility of failure? One of the most obvious ways is by not taking no for an answer. It also helps to cultivate a charming sales manner. But the bottom line is that you always know the purpose of what you are doing. If you know what you are trying to achieve, then you can focus all your efforts in that direction.
It's been said so often that many people forget about it, but determination is one of the most important keys to a successful real estate investing career. You need to work, care for and massage your clients to make sure you're the first person they think of when they're ready to act. Don't just give up on someone because they said "no" to you the first time. Don't even give up if you think they'll probably say "no" next time as well. Every prospect is exactly that - a prospect. And that means they have the potential to be a moneymaker no matter how many times they reject you. The next time might well be the time they say "yes".
Often people say that it's important to learn from your mistakes, which is true, but it's just as important to learn from your successes too. If you find something that works, then do it again! Most successful people find a strategy that works and then stick to it. It's also important to avoid getting bogged down in a strategy just because that's the way you've always done it, so find a successful strategy and then progressively tweak it to suit current circumstances. That will also help you to maintain your uniqueness in a very crowded marketplace.
Finally, if you want to become wealthy through real estate investing, avoid stretching yourself too thin. This applies to buying properties, where it's important to remain selective and not just buy anything because you can. But it's also relevant to your marketing efforts. Some people make the mistake of trying to marketing to everybody by using a mixture of media. They don't even stop to find out whether it's working, and quite often can't tell which parts of their marketing actually do work because there's no way of tracking results. Be selective, and if something isn't working for you, put it aside and try something else. By focusing on one marketing technique at a time you won't stretch your resources so far, and you'll be able to build up a clear picture of what works for you.
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