Realty411 Magazine Featuring Eric Counts, Credit Nerds - Page 48

1. The 1st Cornerstone Of Success is continued education. As successful investors, we make our money buying distressed property from motivated owners. In order to do that, we must learn how to creatively solve the problems that owners have with their properties. None of us were born with this creative knowledge. We have to invest our money and our time into our education, and we have to learn the smart, money­making principles and techniques. Then, we use these smart, money­making principles and techniques as tools to creatively structure win­win deals. This is why we continue to read books, listen to tapes, and take classes. This brings us to the 2nd Cornerstone Of Success. 2. The 2nd Cornerstone Of Success is discipline. You must discipline yourself to use the smart, money­making principles and techniques that you’ve learned. This doesn’t necessarily mean that you have to spend 15 hours each day to work your business. It could mean that you simply discipline yourself to write that offer, or send that letter out, or talk to that owner or neighbor, or anything else that you been procrastinating about. So much of the time we’re so close to success, but we give up just before we achieve it. Most of the time we give up because it is to scary or to painful to proceed on. Anticipating an owner who says no instead of yes can be both scary and painful. Dig down as deep as you need to and find that spark of passion that you can use to generate the discipline that you need. Use it like a magic carpet to fly above the pitfalls to success. 3. The 3rd cornerstone is productive action on a daily basis. You must continue to learn, you must discipline yourself to use what you’ve learned, and now you must put it to work on a daily basis. It may be that the productive action of the day may only take 15 or 20 minutes. Success comes to the person who has made him/herself worthy of the success that they seek. And you make yourself worthy by following the 3 Cornerstones Of Success. Then, you’re prepared whenever opportunity comes along. People sometimes ask me, “Come on, Reggie, tell me”. “What’s the secret to being successful in real estate”? There is no one individual ‘secret’ that will make you an instant millionaire in real estate. It’s more of a matter of doing a whole lot of little things correctly that empowers us to 48 create a tremendous wealth. Doing smart things systematically toward your goal every day will breathe life into the 3 Cornerstones Of Success. There is nothing on this earth that can stop you if you simply follow the 3 Cornerstones Of Success. Here are a few other ideas that can help you to achieve your own level of success. 4. Don’t Take Your Financial Advice From Broke People When I first got involved in real estate, I let everyone know that I was launching into a new career. I told them that I was studying courses on how to perform creative real estate deals that would make me rich. I told them I was learning about no money down deals, how to get owner financing, how to rehab to increase profits, and so much more. I was so excited about my new real estate career that I had real trouble shutting up about it. As a matter of fact, I think that I got a little cocky. I’d tell anyone who would listen to me about the wealth that I was going to build in real estate.