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The 8 Traits Of A Successful Real Estate Mogul

Joel Brown (Founder of Addicted2Success.com)

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Real Estate Investment

Investing in real estate can be risky. It’s been the making or breaking of countless individuals, but some people seem to thrive more than others. What are the common traits that these real estate moguls all shared?

Read on to find out what skills you need become a top notch real estate investor.

 

8 Skills Real Estate Investors Have

 

Unshakeable confidence

Donald Trump BuildingOne thing that many real estate king pins have shared, is the confidence to convince others that they are the real deal. This is not only important when talking to clients, but also important when trying to attract investment from wealthy backers.

Donald Trump is the master of convincing both financial institutions and wealthy individuals to back his ventures.

 

Determination

determination real estateAs with making any kind of financial investment, when investing in real estate you only lose out if you sell for less than you’ve bought. This means holding out and selling at the right time, and not being put off by a temporary downturn in the market.

Patience is a virtue in this game, understand that and you will go a long way.

 

 

The good sense to know when to cut their losses

screaming real estate womanContrary to the last point, sometimes hanging on in there for a good offer is counter productive. Sometimes knowing when to take a step back and make a minor loss is a very useful trait. It’s far better to free up capital and start again, than to lose it all slowly on a bad investment.

In a case like this you should go with your gut feeling, somehow we sub consciously know what is good for us and when we should follow our intuition.

 

The ability to avoid money pits

Losing Money In Real EstateMaintaining real estate can often be expensive. The purchase costs are not the final costs.So a building that requires a large amount of money or resources to maintain can drain a fortune fast.

Successful real estate investors usually run a complete check over the investment before committing, make sure there isn’t anything fishy going on that the seller isn’t telling you about that will cost you dearly down the track.

 

They possess Marketing skills

real estate marketing onlineMarketing is as important to a real estate mogul as it is to any business person, and can not be neglected. Marketing in real estate means not only selling the property, but also selling yourself.

Youtube is a great new avenue for those who are looking at showcasing their properties for sale. Create a YouTube channel and have it listed on your business card and e-mail signature to keep your clients u to date with the latest properties you have on the market.

 

The ability to spot trends

Real Estate TrendsAs with investing in the stock market, investing in real estate requires the ability to notice changes in trends and act upon them. Look at cities like Las Vegas in the 60s for example. What once was a dusty desert became Sin City almost overnight, and millions of people flooded there for their vacations. Imagine how much profit was made by those who got in on the ground.

This is not a one time thing. Houston Texas is becoming a major tech capital of the world, and money is flooding into the city. There are many opportunities that present themselves for those with the foresight to see them.

 

A knowledge of what they are signing up for

Signing ContractsThis doesn’t mean being fluent in legalese, that’s why they employ lawyers to read the contracts on their behalf. It simply means not getting into a bad deal. The ability to sense when they’re being led astray by someone looking to make a quick buck.

Investing in real estate requires a shrewd sense of business, and a healthy distrust of things that are “too good to be true”.

 

 

Seeing potential in run down buildings

Barbara Corcoran Real EstateA talented real estate agent like Barbara Corcoran, will totally disregard the cosmetics of a building, and look at the building in purely financial terms, rather than forming an emotional attachment.

Things like the interior aesthetics, and the grounds around the building can be fixed up very cheaply, as long as there’s no major structural damage, looks do not matter.

Barbara Corcoran grew her real estate company “The Corcoran Group” from $1,000 to $8 Billion over the years using her smart and persuasive real estate techniques. Here is a video by Barbara Corcoran on how she made it BIG in the Real Estate market:

 

(Video) Barbara Corcoran’s Lessons On Real Estate Investment

Barbara Corcoran’s current Net Worth is $66 Million

 

Article By Joel Brown | Addicted2Success.com

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances.I'm proud to say through my podcast and through this website we have impacted over 200 million lives in the last 10 years.

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1 Comment

1 Comment

  1. Laurie

    Dec 26, 2012 at 7:53 am

    I love this article, being a real estate agent in New York is my dream, I think I would ace it in this field. Love the points, thanks for sharing these with us Joel. merry xmas also.

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Why It’s So Important To Break Out Of Your Comfort Zone

Joel Brown (Founder of Addicted2Success.com)

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Fear of Snakes

So I completed a Snake Handling course 6 years ago and during the final test of the course, we were asked to capture and bag 5 of Australia’s Deadliest snakes in a small confined room. The room had a Tiger Snake, Dugite, King Brown, Death Adder and a Red-Bellied Black Snake all slithering around at the same time. I couldn’t believe what I had got myself into.

Snakes were one of the biggest fears of mine. I would imagine a snake running underneath my feet from time to time and I would actually bring my feet up off the floor to avoid getting entangled or bitten by these imaginary snakes I had created in my mind. I would even have nightmares about snakes biting me and it would wake me up in sweats in the middle of the night.

I could have never imagined doing this in my life but I did it because I knew that I had to get passed this ridiculous fear I had of snakes, and I am grateful I was able to show up for it.

Checkout this podcast episode where I share how You can Master your Sub Conscious Programming around your fears in 2 Steps:

While attending this course, the subject of Fear was brought up and the presenter asked a number of people:

 

“What Are Your Top 5 Fears?”

– Public Speaking

– Cancer

– Sharks

– Snakes

– Heights

Were at the top of the list for most people.

 

The instructor carried on with a story of how he had just arrived back from a trip to the Northern Territory of Australia to visit an aboriginal community where he had met a 7-year-old boy who was absolutely scared to death of spiders and the dark.

Killer crocodile fearIt did not matter what kind of spider it is, he was scared and that was that. This boy would hunt crocodiles and lizards but was scared of even the non-venomous spiders.

All he had learned from a very young age was that spiders are dangerous and that they WILL kill you, yet the crocodiles and snakes that the boy would play with and hunt for are by far more deadly than most spiders that your everyday human would come across.

He was taught between the crucial years of 1-6 yrs old that the dark is full of evil happenings and that spiders are incredibly deadly and will kill him if he goes anywhere near them. So he was devastated to sleep in the dark and would jump on near by people just to get away from a spider nearby.

I’m not here to say that spiders aren’t dangerous, they are, and some out there have the potential to kill you. This boy was right to be cautious around spiders but where he lacked knowledge, or the right information about these creatures, eventually left him fearful of something he had never really understood.

This boy is just an example of many other people out there that are limited by their fears because of the little that they know. The less you know, the more fearful you are. This is only human and we are naturally scared of the unknown.

So the key thing here is we need more “KNOWLEDGE!” and it is in our best interest to want to understand how things work if we want to become less fearful of what the wild and wonderful world we live in has to offer.

You have to “EXPERIENCE” things to have a better understanding of the activity or whatever it is you are most scared of.

Joel Brown Snakes Fear

Joel Brown – Certified Snake Handler

When you increase your knowledge you can grow to the level where your fear is set at, so when the two meet it creates a level called “RESPECT”.

This is the perfect level to be on because you will now have a respect for what you fear which will allow you to then work with it rather than being submissive and missing out on the wonderful feeling of successfully OWNING! the outer areas of your comfort zone.

Everybody has a fear of some sort and learning more about what you fear and even voyaging through your ‘un-comfortable zone‘ will prepare you for the hard knocks in life on your road to success.

 

I have a few more fears to conquer myself and I am happy to say that I have crossed ‘Snakes’ and a number of other top things off my list. I’m sharing this story with you in hopes that you too will face at least one or two of your fears. Not to say that “you did it“, but to prove that you can outgrow your own personal limitations.

Your fears could be holding you back, they could even be the final piece you need to experience a brand new lifestyle or a brave new world of fun.

 

So get out there, learn more and grow!

 

No matter the storm, may your Faith be stronger than your Fears – Joel Brown

 

 

Feature Image Original Source: Indiana Jones – Raiders Of The Lost Ark

 

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