DEVELOPING AN INVESTOR MIND SET
MANY YEARS AGO I NOTICED THAT SOME OF THE PEOPLE I WORKED WITH WOULD DO GREAT WITH THE FIRST FEW INVESTMENTS THEY ACQUIRED BUT THEN THEY WOULD BECOME DEPRESSED AND STOP BUYING PROPERTY; REGARDLESS OF HOW SUCCESSFUL THEY HAD BEEN IN ACHIEVING THEIR GOALS AND OBJECTIVES. IT TOOK ME A WHILE AND SOME RESEARCH AND OBSERVATION AND STUDY TO DETERMINE THE REASONS FOR THIS BUT FINALLY, I HAD AN AHA MOMENT AND REALIZED THAT INVESTORS (WHO ARE PEOPLE TOO, WITH EMOTIONS) WERE SUBCONSCIOUSLY SABOTAGING THEIR TRANSACTIONS OR NOT PURSUING THEM AT ALL BECAUSE THEY FELT THEY WERE SOMEHOW RESPONSIBLE FOR THE FAILURE, OR LOSS OF THE PEOPLE'S HOME. (SOMETIMES THIS IS AN INVESTMENT PROPERTY FOR THE FORMER OWNER) REGARDLESS THIS COULD NOT BE FURTHER FROM THE TRUTH BUT YOU CAN NOT DEAL RATIONALLY WITH AN IRRATIONAL THOUGHT AND THAT IS A FACT! THIS HAS TO BE DEALT WITH ON THE SUBCONSCIOUS PLANE WHERE IT ORIGINATES SO I CAME UP WITH A SIMPLE EXERCISE WHICH INVARIBLY EVERYONE I MENTOR BALKS AT BUT I INSIST THEY DO IF THEY WANT TO WORK WITH ME AND BECAUSE OF THE RESULTS I GET FOR MY CLIENTS THEY ALL DO IT. I, OF COURSE, EXPLAIN THE REASONS WHY AS I HAVE EXPLAINED HERE TO YOU.
PEOPLE LOSE THEIR HOMES FOR MANY REASONS. THE PROPERTY REFERRED TO AS DEPRESSED, SELDOM IS. PEOPLE LOSE THEIR HOMES THROUGH BANKRUPCY, DIVORCE, DEATH, UNPAID TAXES, NEGLECT, ALCOHOLISHM, DRUG ADDICTION, UNTREATED MENTAL WELLNESS ISSUES, ETC. YOU DIDN'T CAUSE IT AND YOU CAN'T CURE IT. THEY HAVE LEFT THE SCENE AND THEY ARE NOT COMING BACK. IF THEY ARE COMING BACK, YOU SHOULD STAY AWAY FROM THAT DEAL! THAT'S THE RATIONAL THOUGHT PROCESS.
THE EXERCISE TO FIX THE SUBCONSCIOUS PROBLEM IS TO GO TO THREE THRIFT STORES AND LOOK FOR ITEMS WITH NEW TAGS FROM STORES STILL ON THEM AND COMPARE PRICES TO WHAT THEY ARE SELLING FOR IN THE THRIFT STORE NOW. THIS EXERCISE IS TO BE DONE WITHIN 2 WEEKS-30 DAYS.
THEN GO TO 2 AUCTIONS -IT DOESN'T MATTER WHAT KIND AND SEE WHAT PEOPLE PAY FOR ITEMS AND HOW THEY ACT--DO NOT BUY ANYTHING YOURSELF.
IF YOU WOULD LIKE AN OVERVIEW OF HOW MENTORING WORKS YOU CAN GO TO UTUBE "CREATING WEALTH THROUGH REAL ESTATE WITH SANDRA MUSSELWHITE AND CHECK OUT THE 11/19 VIDEO THE #S HAVE CHANGED BUT THE PRINCIPLES ARE THE SAME.
领英推荐
LASTLY, ACQUIRE THE BOOK THE MAGIC OF THINKING BIG AND BEGIN READING IT.
AS ALWAYS IF YOU HAVE ANY COMMENTS OR QUESTIONS FEEL FREE TO CONTACT ME AT [email protected]. ALL WILL BE ANSWERED. THANK YOU.
HAVE A BLESSED WEEK!
NEXT TIME, HOW TO DO AN INVENTORY OF WHAT YOU HAVE READ, HEARD AND SEEN AND HOW IT AFFECTS YOUR ACTIONS AND THOUGHTS NOW !
INTERESTING THAT AI (OR SOMEONE/SOMETHING? HAS TAKEN IT UPON THEMSELVES TO STATE THE OBVIOUS--"What impact, etc" AND THEN AI GOES ON TO WRITE "How can I develop an Investor mindset? BY THE WAY, THIS HAS NOTHING TO DO WITH WHAT I WROTE IN MY NEWSLETTER AND IS A CONTINUATION OF WRONG THINKING THAT HAS TRIPPED UP MANY INVESTORS IN THEIR PROGRESS.