What Will It Take To Be Successful As A REI?
No doubt you want to be a successful real estate investor. Regardless of what your goals are, you want to achieve them without experiencing a lot of headaches along the way. As an investor, you’re a business owner. You’re not just buying properties here and there; it’s an actual business. The first thing to realize is that as a business owner, there are some things you’ll have to learn in order to run your business successfully.
Do The Work
If you want to be a successful REI, you’ve got to be willing to do the work. What I mean by this is putting the time in each week to learn the business inside and out. It’s not rocket science, but there are plenty of things to learn to put yourself ahead of the competition.
Make a commitment to put in a certain number of hours per week to learn the material in my courses. If you can put five hours in, great. If you can put in 10-15, even better. You’ve got to come to understand the basics inside and out. The thing is, it might be a large time investment in the beginning, but once you learn the material, you know it for life. You put the time in, you do the work, and you’re on your way to becoming a successful REI.
Practice Talking With Sellers
Another factor that will play into your success rate will be how many phone calls you’re making and taking. To get better at conversations with potential clients, you’ve got to speak with them. This means calling ads every week. This also means taking every call that comes in when you’re available and returning calls to those that leave a message.
Get familiar with the questionnaire that you use with sellers. Practice it by yourself or with a friend or loved one. The more you’re on the phone in conversation, the more you’ll get the knack for keeping control of every call, navigating it in a favorable direction.
Listen With Compassion
To be a successful and reputable REI, listen to each seller with compassion. They’re probably in some sort of jam and need to sell their home quickly. They’re likely upset, scared, and confused. Their home is their security, so the thought of them having to sell it or lose it in foreclosure is a lot to deal with.
Remember this and listen to them with compassion. Truly care about their situation and be confident that you have the ability through your services to help them out of this jam. This is the beauty of your role as a real estate investor: you get to help people.
Roll With The Punches
It’s not always going to go as planned, so do yourself a favor and roll with the punches. If you get knocked down, get right back up and get in the ring. Your attitude and perseverance matter, so be sure you’re feeding your mindset positive, motivating things so that you’ll be prepared for anything that comes your way.
Success as an REI is possible. Stay committed, keep learning, keep practicing, and you’ll surely be climbing that ladder to success.