The real estate market is full of opportunities to buy and sell as well as make big gains. This is manifest in the way real estate investing has grown popular in the last 50 years. However, it being a common investment vehicle does not guarantee you any successes. You need to learn how to achieve peak performance in your real estate investment decisions, which should not be hard after going through this guide.
1.Absolute clarity of the end result
One of the reasons why people do not succeed in real estate investing is because they go in with set preferences instead of goals. It is okay to prefer one thing to the other but when you want to go into real estate, preference is not enough; you need goals.
By setting what you want to achieve, you have a very clear path of where you want to go in as much as real estate is concerned. So ask yourself, what is it exactly you want to achieve by investing in real estate? Once you have the answer to this question, you have the first stepping-stone to success.
2. Why do you want your end result?
There are two major reasons why people make the decisions they make - pain and pleasure. If, for example you do not earn enough, you are pained if you cannot feed your family. But if you can, you are pleased. Therefore you need to identify what pain you will be avoiding or what pleasure you will get from real estate investing.
This is the point where the goals you set now come to life and you can be able to polish them at this stage.
3. Acknowledge bad behavior
Pain points in your life come from overdoing things that get your life nowhere. Even though some consider bad behavior a weakness, acknowledging that it exists is the first step to moving away from it. You need to identify which of your habits are not in line with your desired end result as stated in point one.
To achieve peak performance in your real estate investments, you need to be on your best behavior. Do away with bad habits because carrying yourself in the wrong manner affects financial discipline, investment decisions, and a lot more.
4. Be resourceful
Real estate investing can present its challenges. However, you need to find your way around them; like changing strategy, goals, etc. You should therefore be constantly watching out for systems, strategies, software, education, and training you need to acquire in order for you to achieve your goals.
If you look at the people who are doing well in real estate as well as other top companies, they are very resourceful. Resourcefulness enables you to be flexible and digest whatever real estate throws your way.
5. Decide and take action
The human mind is designed to work towards getting that which we desire most. We start recognizing opportunity, talent, and a lot of other things we were not able to see before until we focused. Once you have set your goals, got rid of poor behavior, and acquired some skill, it’s time to decide to pursue your goals and actually do it.
Real estate investing is not for the faint heart and requires massive action. But again, if you fear, you will never be able to achieve peak performance. Focus your energy on getting it.
6. Take inventory of your progress
Usually in a business investment, the initial period of running it is thick with observation and discoveries. You begin to find out what works and what does not. For you to be at your peak in the time to come, you need give more attention to what works. What is it that best satisfies your goals?
Once you can define the positives and negatives, you need to take your time to understand why things are the way they are. Tracking your progress advises your next move in as far as your investment is concerned. Share your knowledge widely with others because you never know when you could learn more.
7. Optimize your plan and approach
It is difficult for everything to work out exactly as planned. If the first one did not work, get back up and try something else. You may think that Fortune 500 Company was an overnight success but behind every success is a tale of at least one or two blunders.
You should be able to change your approach. Once you have a good plan, get down to optimizing it in every possible way. Document and duplicate what works best for you. For you to be able to perform, you must also be able to delegate so that you can go on to developing something else.
8. Focus on the one thing that works 80% of the time
Dedicate your energy and resources to what works. What is it that you have discovered could double your income? In the beginning, you set your goals as well as the reasons for investing in real estate. Now that you have a working approach, put together everything that works; a team, resources, energy, and more importantly, time.
Marketers have a strategy known as targeting effectively, where they only target those they are convinced will materialize into a sale. You too should focus on that which will give you peak performance.
9. Leverage and use other people’s time, money, and experience
If you have a real estate investment portfolio, you need help to service your investments. Now is the right time to look for talent and develop an “A Team”. You need money to expand, talent to succeed, and time to put it all together.
But you may not always have everything. It’s best to leverage that of other people as long as you are careful to achieve a meaningful balance.
10. Review your end result
You need to review your end result yearly or after two years at most. Why is this important? Because you may already have achieved whatever you wanted which means your end result now needs to change.
On the other hand, you may not be achieving anything at all in which case you need to take time and review your goals. Were they too over ambitious? Maybe they were, or maybe it’s just bad luck.
Where do you think you currently stand? You could be nowhere you want or you may be just on the right track. All in all, the above tips have worked for many in real estate investing and are guaranteed to get you out of the woods or guide you on an already established path. You just never know when you are going to be ranked among the best!
If you want to learn more about these peak performance principles from me live, hear even more methods from best selling author and "America's #1 Success Coach" Jack Canfield, or learn more strategies to accelerate you real estate investing career from Shark Tank's Barbara Corcoran, then you need to be at Flip and Fund Summit 8 next month in Vegas.
You'll get the chance to actually meet us all in person, pick our brains, and even get a photo with one of us at our VIP cocktail hours.
Sign up THIS WEEKEND ONLY for a discounted price and get a free VIP upgrade as well.