Hi Everyone,
I hope you are doing well.
Today’s blog post was inspired by Jason Hanson at the Bigger Pockets Real Estate Blog. Jason’s recent article was titled The #2 reason real estate investors don’t become successful (and what to do about it)
In Jason’s article he raised a couple of great point which I would like to speak further on.
As a new real estate investor reading this post, pay special attention to these points, as this applies directly to you.
In Jason’s article, he describes a book that he read about John D. Rockefeller. In the book, Rockefeller explained that most people never become successful because they have a ‘lack of concentration’.
I could not agree with this statement more.
As Jason articulates in his article, if you never put in a consistent effort in growing your real estate business, it will never happen.
What I enjoyed the most about Jason’s blog post was a statement that he made. I have provided the statement below, and below the statement, I will give my interpretation. Here is the statement:
“In short, if you want to be rich (in any business) have a long-term focus and don’t let anything distract you. Also, I highly recommend writing yourself a promise and signing it and looking at it every time you think of doing something else.”
Jason is bang on with his first point. New real estate investors, please pay attention. Jason says that, “if you want to be rich (in any business) have a long term focus and don’t let anything distract you.”
This is great advice because in the real world of real estate investing, distractions are all around us. Distractions could come in the form of other business ventures that we are thinking about pursuing, or distractions could simply be unproductive time spent on less important tasks.
Being focused, and not being distracted are key to success as a real estate investor.
Further, Jason makes a recommendation that I really like. He suggests writing down a promise to yourself, signing it, and looking at it every time you think of doing something else. (other than staying committed to real estate investing)
This sounds like a really simple thing to do. However, the act of doing this can be extremely powerful.
So in summary:
- Real Estate investors fail often because they have a lack of concentration.
- In order to stay focused, have a long term vision and don’t let anything or anyone derail you from your path.
- Make a written promise to yourself, sign it, and look at it every time you think of bailing from real estate investing.
Thanks again Jason for your great post.
Best Regards,
Neil Uttamsingh.
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