There is no doubt that real estate investing or flipping houses is the fastest and easiest way to make money, build wealth and ultimately become rich for the average person. In fact more people have become millionaires today through real estate investing than any other business. Now this doesn’t mean it happens overnight or that you don’t have to work at it and put forth effort. No matter how easy something is it still requires work and real estate investing and house flipping are no different than any other business with the exception of the lack of physical labor unless you choose to do the work yourself.
So what are the qualities that make a successful real estate investor? There are many but today I am going to focus on the top five.
First is integrity. You absolutely must do what you say you are going to do to be successful in this business. You have to build a solid reputation for people to want to work with you and take you serious and when you are flipping houses you have to work with a lot of different people. It is a team sport and you have to earn peoples trust.
Second thing is discipline. You have to show up every day and take care of business. Eat the bullfrog first as they say. In other words do the things you don’t want to do first. This will give you a strong sense of accomplishment and fire you up for your day. Then get up and do it over again every single day.
Third is desire. The single most important thing you will ever have to do in your life is to figure out what it is you want. Most people think they know but when you match their actions to their words you see the truth. If you truly desire something with all your being you will find a way to make it happen.
Vision is the fourth quality. You need to be able to see the hidden value of a property. What I mean is in your minds eye you need to be able to see the finished product. Once you can visualize it you can put it into a written plan of action for the project. Each project you do should have a written plan and that plan starts with a vision.
The fifth thing is persistence. You are going to have to look at a lot of houses and make a lot of offers and talk to a lot of buyers and sellers before you can make a profit. Sometimes things will line up perfectly and sometimes they won’t. Things don’t always go the way we plan but if you keep at it and never give up you will succeed and through trial and error you will perfect your technique and find what works for you consistently.