The one skill that separates great investors from the rest

What separates good investors from average, everyday investors?

It might not be what you think. In my opinion, it's this:

Speed & Confidence

And no, I'm not talking about physical running speed.

I'm talking about the time it takes for you to make high level decisions and act quickly.

I recently heard someone say this -

"Success in business isn't necessarily about skills, it's about speed and confidence."

Why is that?

A few weeks ago I came across a property off market that the seller was willing to sell at a discount. Things looked good, but I wanted to double check my numbers, do some more research and look things over before getting the property under contract. I thought, "well, good thing this is off-market, and I have some time to work." I called back a few days later, and they had already sold the property! In fact, they had already moved out!

I was completely dumbfounded. Another investor had come along, given them an offer and closed on it before I was even able to blink.

And that's why I think developing speed and confidence is essential to having success as an investor.

A good mentor of mine used to always say, "Confidence comes from competence."

Competence comes from knowledge and experience. Knowledge and experience simply come from consistently trying over and over again.

We gain knowledge and experience by consistently networking with others in real estate, consistently evaluating deals and consistently making offers.

And so, perhaps the most important skill is this:

Consistency.

Keep trying, don't give up.

Maybe put a better way:

Consistency -> Confidence -> Speed -> Success

Hope that helps!

- Ben Bolingbroke

If you are interested in getting a first look at good real estate investments my team and I come across, please set up a time to meet with me here.