There’s more to successful property investing than just buying real estate. As many successful property investors will testify, a lot of their success is due to their psychology. So what is the psychology of successful property investors? What sets them apart from the rest?
Prepare to win
In essence, successful property investors prepare to win and believe they will win. From the get go, they devise an investment strategy which they plan to stick with over the long term.
By planning to invest long term, they’re preparing themselves to ride the market’s ups and downs en route toward creating the wealth they’re aiming for. Their investment plans typically cover everything they need to create long-term wealth including the network of partners they’ll need to work with including lenders, mortgage brokers, and service providers.
Then, they do something that sets them apart… they stick with their investment plan over the long term. By investing in line with their plan, they’re adopting an entrepreneur’s mindset as opposed to the hobbyist mindset most property investors bring to the table.
Reconsider your attitude towards debt and risk
Another key differentiator of successful property investors is their attitude toward debt and risk. Successful property investors view debt as an asset that provides the engine for their long-term wealth creation. Admittedly, not all debt is good, but being a successful property investor means identifying the right growth assets to leverage with debt to help them achieve their goals. So adding compelling investment properties funded by debt to their portfolios is at the heart of the successful property investor’s journey.
Take advantage of the eighth wonder
And finally, successful property investors understand what Einstein referred to as “the eighth wonder of the world” better than most… compounding.
By gradually scaling up and investing over the long term, successful property investors benefit from extraordinary wealth creation for the simple reason their wealth compounds year in, and year out. In other words, the rate of growth on their initial investment accelerates over time. Compounding is at the heart of all successful property investment strategies.
As Landen’s Director, Jim Dionysatos explains:
‘In our experience, an important factor when building significant wealth through property investment is having the right mindset. We love helping our ambitious clients take steps toward their long-term wealth creation goals. We also love watching them exceed their own expectations by developing the right plan and sticking with it.’