www.mckissock.com

Ten Attributes of Successful Real Estate Investors ☐ Boldness

In the face of uncertainty, charge forward instead of hesitating. Because investors take on risk, often putting their own money and financial security on the line, they need to be inherently courageous.

☐ Optimism You will inevitably face challenges. The best investors, however, have confidence themselves and learn to expect the most favorable outcome. Confidence will move you beyond any setbacks you encounter.

☐ Authenticity Be honest with yourself and with others. Great investors know that they need other to succeed, so seek out and cultivate real friendships. Connections with other people can help you exceed your own potential.

☐ Self-awareness Understand your strengths and your weaknesses. Take advantage of personality and aptitude tests such as DISC, Meyers-Briggs, Colby, or Strengths Finder. You can also simply ask your clients about their experience with you: what did you do well, and where did you disappoint? Once you understand your weak areas, you can begin to surround yourself with people who are strong in those areas. Work toward your strengths, investing in areas that are familiar to you.

☐ Intention As in the fable, be like the tortoise, not like the hare. Financial success through investment does not come overnight and there will be setbacks. Patience and a willingness to take the long view will pay off.

☐ Simplicity in Planning Don’t unnecessarily complicate your life. Each day, consider small, concrete steps you can take to reach your goals.

☐ Diversification Create multiple income streams. Do not only invest in one multi-unit apartment building, wherein all of your rental space is under one roof. Do not invest in all the same kinds of properties, or properties all in the same area. If your portfolio is diverse, then you will have investments to sustain you when others falter.

☐ Drive No matter what your personality type is, focus your eyes on your goal and don’t give up until you reach it.

☐ Freedom from Debt Don’t just think of this as a cash flow business. Do what you can to pay off your loan ahead of schedule. In fact, pay it off as quickly as possible. When you’re in debt, you’re investing for the bank, not for yourself.