Soldiers before modern warfare wore protective armor when going into battle to protect themselves from harm and to be best equipped to defeat the enemy. The protective gear was essential for everyone to have and no one dared to leave it behind before battle. This is because the protective gear provided them with the key components to succeed. The helmet protected the head, the breastplate protected vital organs, the shield defends from enemy strikes and the sword gave the ability to strike back on the offense. The four pieces, if used and mastered together unlock the key to success in battle.
Much like soldiers back in the day needed to master these 4 pieces of equipment, one must do the same if they wish to succeed in real estate investing. To best equip yourself with the highest possible elements to succeed as a real estate investor you need to understand and master these key principals. These principals are a good way to help you get into the right mindset that is simple to understand and will set you up for great habits for growth.
The helmet of knowledge (head)
Understand how money is made in real estate, such as the different ways of investing, how to determine property value and identify “hidden value” and how to analyze possible profits for any given deal. Much like any other subject, the more knowledge you have about it, the less risk you have and the higher the chances of success you will see. knowledge is a risk reduction and one that we have total control of. We decide how much knowledge we work to obtain in order to reduce our risk.
The breastplate of courage (heart)
Understand why you are investing or wanting to invest in real estate. Having a strong reason for wanting to invest in real estate with a purpose will serve as your biggest motivator as you progress down your journey. Make sure that your reasons are genuine and come from the heart. Your motivation will not survive if it feeds on fake or unethical reasons, so do yourself a favor and really think about why you are wanting to embark on the journey of real estate investing. Finding enjoyment in what you do is extremely important in order to remain consistent and steady as you grow.
The shield of faith (protection)
Understand how important it is to build a level of confidence in your plan of action for investing and have faith in yourself. Start small and work your way up but take the first leap of faith and take action. Shield yourself from all of the horror stories out there and doubts and see for yourself what it’s like by taking that first step and coming out of your comfort zone. After all, and as you may have heard before but it’s true that the biggest risk one can take is the risk of not taking any risk at all.
The sword of justice (offense)
Understand when it’s your time to make decisions in your best financial interest that others may not like, such as raising your rents. This does not mean or make you a bad person, it simply means that you understand the importance of treating your real estate investing as a business and not as a hobby. If it involves work, dedication, revenue, taxes, and people, then its a business. Much like any business to be profitable the business owner needs to know when its time to go on the offense for growth and to at least keep up with inflation ethically in an effort to increase income. After all, the number one tool for wealth building is one’s own income so don’t be shy by going on the offense when the time is right.
Much like medieval warriors ages ago needed to master these 4 pieces of equipment, one must do the same if they wish to master real estate investing. To best equip yourself with the highest possible elements to succeed as a real estate investor you need to understand and master these key principals. These principals are a good way to help you get into the right mindset that is simple to understand and will set you up for down the right path.
Hi, I’m just an inspired recent real estate beginner investor named Miguel Rivera from a modest town neighborhood called Pigeon Hill in Aurora, Illinois, the City of Lights! I have 3 years in so far investing in real estate and excited to continue to walk my chosen path to reach my ultimate financial goal of living off my rental income before I reach 35 years old! Driven by infinite growth potential and guided by my mentor, I managed to get started and make it work with just a modest salary, practically no education in the field, learning and applying some key habits. This website is a collection of all things that I have learned so far that I wish can help other recent real estate investors! Click here to view more about my story.