First Rental Property

I have met a lot of real estate investors over the years. The most successful of these investors have what I like to call The X Factor.

I have never met a real estate investor who is extremely successful, who does not have The X Factor. There are many, many real estate investors out there, but only a select few have this X Factor.

What is The X Factor?

I have come to realize through observation that The X Factor is twofold. The X Factor is:

1) Passion

Many real estate investors might say that they are passionate about real estate investment. However, I challenge all of these investors on this. Passion comes with different intensity levels. It is possible to be slightly passionate about something, and much more passionate about another thing.

I have witnessed a lot of real estate investors who own multiple rental properties, but who have lost the passion for what they do. It is almost like they are just going through the motions. They no longer have a passion which fuels them to continue to move forward, and purchase additional rental properties.

Once this passion diminishes, it becomes hard to stay motivated. When motivation declines, it is difficult to continue to execute against one’s goals. Once the passion leaves, the real estate investor’s spirits begin to diminish. As such, if you observe a lot of real estate investors, you see those that continue to purchase rental properties, and then those that stop acquiring at a certain number. Sure, the argument can be made that not all investors want to buy an unlimited amount of properties. However, I counter this argument by saying that all real estate investors truly want to buy an unlimited amount of properties. The ones that forge ahead and continue to purchase are those investors who have stayed passionate about their cause.

How you can bring your passion back!

This is simple to do, but it takes effort. When you feel that you are lacking passion in an area (real estate investment), you simply have to speak to and become encouraged again by people that are passionate. These people do not even have to be passionate about the same things as you are. However, they have to be very passionate about whatever it is that they do. When you speak to them, and as they encourage you, you will begin to rekindle the passion that you once had. Think of yourself as a rechargeable battery and think of other passionate people as the battery charger. The more time that you spend with other passionate people, the more ‘charged’ you will become. After you have spent sufficient time with other passionate people, you will be fully charged, passionate again, and ready to work towards achieving your goals.

The X Factor is also:

2) Confidence

Most people lack some degree of confidence in some area of their life. Just like ‘normal’ people, many real estate investors lack confidence. It is this lack of confidence that prevents many real estate investors from forging ahead and acquiring multiple rental properties. It is also this lack of confidence that makes certain real estate investors fearful from trying other investment strategies. It is also this lack of confidence that prevents these investors from coming out of their comfort zone. By not coming out of their comfort zone, they are not able to grow and develop as real estate investors.

How to bring your confidence back!

This is slightly harder to do than bringing your passion back. However, this can be done as well. Again, you have to surround yourself and talk to more confident people than you. These people should have high confidence in a number of areas of their life. Spend time with them and understand what makes them confident people. The more confident people you are around, the better chance you will have to figure out what you need to do to make yourself more confident again. For example, if 10 extremely confident people tell you ways in which you can become more confident, chances are that they have explained the same process to you in 10 different ways. Hearing this information in 10 different formats, makes the information more digestible to you. As a result, you are better able to utilize this advice, hearing it 10 times than if you only heard the advice once, and through only one person’s perspective.

By maintaining both Passion and Confidence, you will be a fearless real estate investor, afraid of nothing, and prepared to work towards achieving your goals.

Develop The X Factor and make sure that you never lose it. The X Factor is truly what makes the difference between good real estate investors and great real estate investors.

A very good example of a real estate investor who has The X Factor is Mr. Don R. Campbell. Don is the President of the Real Estate Investment Network, REIN. He is a person with great integrity and a clear vision.

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