Must Know Investing» Personal Development

Why Aren’t You Taking Action?

Patrick Riddle — Thu, 27 Aug 2009 13:09:25 +0000

In today’s post, David “The Diamond” Oswald tells us why soooo many people hesitate when it comes to taking action and what to about it . . .

I was thinking the other day about how so many gurus and teachers consistently talk about how the key to success relies on “taking action immediately.” So if it’s so simple, literally as simple as taking action, why don’t we?

I happen to agree that the action step is the most important part of any new process whether you’re learning to become a real estate investor or anything else under the sun.

Recently, I took a little inventory in my own life to better understand why so many people struggle in this particular area. During my lifetime, I’ve been able to consistently take action, but I’ve found that there have been certain times where I’ve been slow to act.

Here are a few reasons why I believe this happens . . .

3 Reasons You Aren’t Taking Action (and what to do about it)

1. “Frankie Fear”

You hear about FEAR all the time. You may even know in your heart that fear is the reason you refuse to get off your butt. Tony Robbins even calls F.E.A.R – False Evidence Appearing Real . . . so you’ve been there, heard that, done it already, right?

But fear rears its ugly head over and over again so you need to always be ready to strike it down….and that takes discipline and guts on your part. So start to recognize it for what it is and simply push forward when you sense it.

2. Uncertainty of What To Do

Sometimes we aren’t fearful of anything, we simply just don’t know what to do. I’ve found that in 90% of everything I do, the actually “doing” part wasn’t nearly as difficult as I had imagined. But, I procrastinated because I didn’t have the road map all laid out in front of me. In other words, I didn’t have the ‘connect the dots’ version of how it should all happen. That being said, I didn’t do anything.

The solution is to realize that our only job is to gather as much information as quickly as we can and then simply make a decision as to whether or not we want to pursue it. Then, TAKE ACTION on it!

3. Lack of Energy or Motivation

One thing that I am fortunate to be able to drum up consistently is the energy to get something done. I don’t know if that comes from being an athlete most of my life and having to “psyche myself up” before an event or maybe it’s just the fact that I always get good sleep! Not sure and don’t really care but I do know that when the time comes, I usually find a way to rise to the occasion and make it happen. So, if you’re wondering how you can do this, it may just be a function of practice makes perfect.

Next time you are not feeling motivated or feel lethargic, change your state. That’s right, find a way to change your state of being . . . do some pushups, put on some loud music, go jog a half mile, leave the house . . . whatever it takes to change your energy level in that moment, just do it. Make this a constant new habit, and you’ll see a change in your results.

So there you have it . . . the magic 3 step formula! No, just kidding.

Listen, I realize that there are times when doing anything is harder in the moment than just applying some formula. I know that real life takes place, and it’s difficult at times. But, this is the same for all of us. We all live in this fallen world, and we all have 24 hours a day to make it happen. How we choose to deal with that is what determines our results. So keep plugging!

Remember, doing things different is not always harder – it’s just different.

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David Oswald (aka “The Diamond”) is a national real estate short sale and foreclosure expert who speaks throughout the United States on creative real estate investing and outsourcing strategies.

The Simple Way to Overcome Real Estate Investing Obstacles

Patrick Riddle — Wed, 06 May 2009 12:06:56 +0000

In today’s post, Julie Broad of Rev N You is going to break down the simple way to overcome your real estate investing obstacles . . .

Tony Robbins has often been quoted as saying “You get what you focus on”. I think that powerful statement is the simple answer to so many challenges we face in our lives.

On a recent mountain bike ride down one of Vancouver’s north shore mountains, I experienced first hand the power of this statement. As we were cruising along I noticed a fairly large tree root sticking up from the ground on the trail ahead. I had enough room to pass on the left, but it was tight. I started to get nervous about hitting the root. I was in control of my bike and I was able to slow down, but my focus remained on the root.

My front tire hit the root dead on and – in what felt like slow motion – my back tire lifted off the ground, I felt my body lift from my seat and I was thrown over my handlebars headfirst into the bushes. Thankfully I had a helmet on and was going slowly. I was stunned, but not badly injured. My husband was of course relieved I was ok, but he was also surprised that I had hit the root. He knew I was capable of riding that trial and maneuvering my bike around it. I had navigated tougher terrain than that before. So, what went wrong?

I did the same thing on my mountain bike that so many new real estate investors do. I focused on the problem instead of looking ahead to my destination and figuring out how to get there. As Henry Ford so eloquently stated, “Obstacles are those frightful things you see when you take your eyes off your goal.”

I didn’t pick my path and go for it. I focused on the root – and I hit it.

If you focus on the fact that you don’t have any money for a down payment, or you have bad credit, or you don’t think you can find financing for a property then you will hit those barriers and not get past them.

I am not suggesting you ignore the obstacles – you have to be aware of the challenge you face in order to navigate past it. I just think the simplest way to overcome an obstacle is to avoid making the obstacle the focus.

Your focus should be on where you’re going next and how you’re going to get there.

If you don’t have money for a down payment to buy a property, start creating excellent property deals that people with money would want to invest in. If you have bad credit, take measures to repair your credit and learn all about real estate investing in the meantime. If you think you can’t find financing for a property, talk to people who are getting financing and learn how they do it.

If you find your focus remaining on your obstacle, ask yourself “What do I want?” and you’ll find your focus shifting to the direction you want to go.

So, next time I ride a challenging mountain bike trail and encounter a scary looking root, I am going to remind myself that what I want is to navigate around it safely. I will focus on the options I have for getting around it not on the obstacle itself.

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Julie Broad is a full time real estate investor and educator. She specializes in buy and hold real estate investing. To get expert advice on making money with rental property, sign up for Julie Broad’s free monthly newsletter. Get your free report for making money with real estate here.

How to Conquer Your Real Estate Investing Fears

Patrick Riddle — Wed, 29 Apr 2009 13:16:37 +0000

Do you have a fear as a real estate investor that’s causing you to LOSE OUT on tens if not hundreds of thousands of dollars? Are you forgoing the incredible buyer’s market of today … the same market where the “new wealth of tomorrow” is being created by people snatching up killer deals across the country … because of some silly unwarranted fear? And even if you are buying up deals left and right, are you constantly anxious about every move you make and worrying yourself into an early grave?

If so, I have some refreshing advice for you . . . 5 proven methods to conquer your fears once and for all in order to establish a success and action oriented positive mindset . . . the kind of mindset that leads to BIG MONEY in your bank account!! . . . but first, let’s list a few of the common fears people suffer from and the HUGE benefits of overcoming them. And btw, I didn’t really mean for there to end up being 5 of everything . . . 5 fears, and 5 advantages and methods to overcome them . . . it just kinda happened :)

5 Common Fears Suffered by the Masses

Fear #1 – Fear of the Unknown

Fear #2 – Fear of Rejection

Fear #3 – Fear of the Negative Opinion of Others

Fear #4 – Fear of Making a Costly Mistake

Fear #5 – Fear of Failure

At one time of another, everyone has suffered from one of more of these common fears. The funny thing is . . . people come into this world with only two fears . . . the fear of falling and the fear of loud noises.

Soooooo, that means that every other fear that you experience was learned! This is HUGE! If you learned it, that means that you can unlearn it . . . and before I show you how to conquer these pesky little “learned” fears, let’s talk about the benefits you’re about to receive . . .

5 Advantages to Conquering Your Fears RIGHT NOW!

Advantage #1 – Skyrocket Your Productivity

Advantage #2 – Become a Master at Time Management

Advantage #3 – Positive Mind Set

Advantage #4 – Rid Yourself of the Procrastination Monster

Advantage #5 – Do Everything You’ve Always Wanted To Do

How would you like to get more done in less time? Wouldn’t it feel great to get rid of that terrible negative emotion guilt be simply doing what you know you “should” do when the time comes to do it? What would your world look like, how would it sound and feel knowing that you could do anything you wanted in life without being anxious and filled with trepidation because you conquered your fears?

It’s time to check out some proven methods to make this happen! Let’s jump right in . . .

5 Proven Methods to Conquering Your Fears Once and For All

Method #1 – Feared Things First

I do not remember which book that I read this in first, but it is a great policy to put into place. Always do your feared things first each and every day!

Right when you sit down to commence work, when you’re planning out your day, there is probably going to be one thing on your list that sticks out . . . at least one thing that you really don’t want to do (for whatever reason). That’s exactly what should be first on your list.

It’s interesting . . . the thing that you least want to do is often one of the more important things to get done. Sooooo, knock out two birds with one stone! Review the benefits to doing so to motivate you to make it happen.

Method #2 – Eat That Frog

Brian Tracy wrote a nice little book on alleviating your life of procrastination (often we fear what we procrastinate on) called, Eat That Frog. The concept is simple . . .

He says that if, first thing of the day, you had to eat a frog, you could probably rest assured that it would be the worst thing you had to do all day.

Whatever your “frog” is, eat it first thing in the morning. Same idea as doing your feared thing first . . . just choose whatever method works best for you.

Method #3 – Force Yourself Into Stronger Behavior

This is a mantra that my friends and I came up with to help us get done . . . that which we “feared.”

Here’s an example: When I got started in real estate investing, one of the things that I really procrastinated on was calling sellers. I knew that I needed to get some practice by calling some fsbos and for rents but still hadn’t. My friends and I made pact that at any point in time, if we realized any one of us wasn’t doing something that would further our paths to becoming real estate investors, we could “force them into stronger behavior” by telling them what to do.

When my buddy realized that I still hadn’t called any sellers, he circled 10 ads in the newspaper, handed me the paper, and told me to call all the ads within the next 20 minutes. And you know what . . . it worked. I sucked it up and just did it! And it wasn’t nearly as bad as I thought.

Here’s what you need to do to “force yourself into stronger behavior”: Write down what you need to do and put a date on it by which it will be done. Then, find someone to be your accountability partner to help “force you into stronger behavior.”

Method #4 – Ask, “What’s the Worst That Could Happen?”

There’s a story where a salesman is standing in the lobby of a big building outside of the “big shot’s” office. Without an appointment, he asks the receptionist if he can go inside to present what he’s got to offer. The receptionist tells him that he’ll most likely get thrown out . . . right back into the hall. So the salesman thinks to himself, “Well, if that’s the case I’ll be no worse off than I am right now sooooo what the heck!”

When you find yourself paralyzed with fear of over anxious about anything, ask yourself, “What’s the worst thing that could happen?” Then, accept the worst thing as if it were true and resolve to do better than that.

Method #5 – Just Reframe It

A powerful way that I handled that nervous little feeling that you get when stepping outside of your comfort zone was to reframe the meaning of that feeling.

I realized that when I got the nervous feeling, that meant that I was about to step into a fear, learn something new, and improve myself . . . which would in turn drive me quicker to reaching my goals.

Now, anytime that I get that feeling, I actually get excited because I have reframed the meaning of it, and I know that I’m doing what is necessary to get all that I want out of life!

Applying Principles from “As a Man Thinketh” to Real Estate Investing

Patrick Riddle — Fri, 17 Apr 2009 23:22:20 +0000

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If you’re reading this, I just realized I gave the wrong link on the webinar.

Download your application here: http://www.mustknowinvesting.com/apply.doc

Sorry. Whoops ;-)

Patrick

… aka P-Rid

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There is an excellent little book that dispenses loads of wisdom called “As a Man Thinketh” by James Allen. If you haven’t read it, go buy the book immediately! It’s a VERY easy and quick read and every sentence is like a seminar. I often find myself having to put the book down to internalize the enormity of what’s being said.

I read it about once a year and luckily, one of my good buddies was talking about it the other day which motivated me to pick it up and read it again.

I’d like to share a few quotes from the book and see how we can relate them to real estate investing . . .

“Men are anxious to improve their circumstances, but are unwilling to improve themselves; they therefore remain bound.”

There are tons of people out there that talk about wanting more out of life, talk about pursuing their dreams “one day,” but very few actually take action and do something about it. Most of these people want something for nothing. They want to continue being the same person they’ve always been, do the same things they’ve always done . . . and want and EXPECT different results. How ridiculous is that! This reminds me of a quote from America’s foremost business philosopher Jim Rohn . . . “For things to change, you have to change.”

What are you actively doing to improve yourself? What books are you reading? What goals have you set? With whom are you associating? Do these people build you up or tear you down?

“Men do not attract that which they want, but that which they are.”

If you’re doing the things that it takes to be a real estate investor, like calling sellers, networking with other investors, getting your marketing plan off the ground, making offers, etc, you are a real estate investor and will be closing deals and making money in no time! But if all you’re doing is reading “about” real estate investing and “wanting” to become an investor, you’re going to become what we call an AFW . . . Average Frustrated Wannabe. You’ll be making the mistake of simply wanting rather than becoming a real estate investor.

By taking the actions real estate investors exercise daily, you become one. What does your action plan currently look like? What are you doing today, tomorrow, and next week that will put you on the path towards closing deals and making money?

“Men imagine that thought can be kept secret, but it cannot; it rapidly crystallizes into habit, and habit solidifies into circumstance.”

The dominating thoughts in your mind have gotten you to where you are today. If you don’t like your current circumstances, change the way you think. The quickest pathway to success is to model those who have succeeded before you. Study their lives, habits, and beliefs and adopt their ways as your own.

Change your thoughts and you’ll change your habits. Change your habits and you’ll change your circumstances.

. . . and as surely as the sun will rise tomorrow, you will find your circumstances improved commensurate to the effort you expend towards applying this timeless wisdom.

I urge you to read this book. There is a lot more where these nuggets came from . . . Enjoy!

No related posts.

Don’t Just Come and See . . . Go and Be!

Patrick Riddle — Mon, 30 Mar 2009 12:37:13 +0000

There are tons of real estate investing gurus constantly marketing to “Come and See” their products and services . . . whether it’s a new course, seminar, book, webinar, or mentor program. While it’s very important to “Come and See,” invest in a good training course, go to the seminar, participate in the mentor program, it’s far more important to “Go and Be!”

When I say “Go and Be,” I’m talking about getting out in the field and taking action on what you’ve learned. In other words, go “be” an investor. Even if you have yet to close on your first deal, as soon as you take action, you’re a real estate investor. Because you’re on your way to getting that first deal done.

Too many beginning investors doubt their knowledge and abilities and feel the need to read one more book or course, go to one more seminar, and wait until they feel like they’re “ready” to make the first phone call, start marketing, or even get a business card.

From experience, I can tell you that this is a recipe for wasting a ton of time and money, and having endless frustrations. And the worst thing about it for those of us that teach real estate investing is that the beginner that never took action goes out and bad mouths us because our material “didn’t work.”

. . . No, you didn’t work because you never did anything. You never took action. And even if you did, you “gave it a try.” After your first rejection, you cast blame so that you could just quit and still feel good about yourself.

Sorry for that little rant, but I’m tired of hearing about people who have invested countless hours/months/years studying to be an investor or spent tens of thousands of dollars buying courses and taking seminars . . . never having even made a phone call to a seller or an offer on a house!

OK, this is no time to feel bad if you can relate to this. The past is the past. Take 100% responsibility for your results (or lack thereof) and realize that you’re ready to take action right now!

3 Steps to Force Yourself to “Go and Be” a Real Estate Investor

1) Set Goals . . . AKA Deadlines

A goal is really just a dream with a deadline. And we all know that deadlines get things done. In your formal education, when did you hand in your research paper? When did you study for your midterms? . . . right before the deadline, didn’t you? At work, when do you finish projects . . . typically at the last minute before it’s due.

A couple things to keep in mind when goal setting: write your goals in the present tense, make them personal (not what someone else wants for you), and positive (what you want, not what you don’t want).

Write down when you’re going to call your first seller, when you’ll have a “We Buy Houses” ad in your local newspaper, when you’ll close your first deal, and that you’re going to join your local investor association by x-date. By writing it down and putting a time frame on it, you make it real.

2) Write Action Plan

Once you have your goals written, it’s time to chunk down the dream into steps. The bigger the dream, the more steps you’ll have within your action plan.

For example, let’s say the goal is to place “We Buy Houses” ad in your local newspaper. At the top of a blank page of paper, write, “It is April 4th, 2009 and I have a “We Buy Houses” ad in the Post and Courier newspaper.”

Your action plan would look something like this . . .

= > Call Post and Courier to find out when ads must be submitted to be in the newspaper by April 4th.

= > Determine the target market for my ad (anyone who needs to sell fast, people in foreclosure, expired listings, burnt out landlords, etc.)

= > Research sample ads in books, courses, and websites

= > Determine contact information to include in ad

= > Write ad copy

= > Call Post and Courier to place ad

When doing this, don’t get tripped up in the details. It’s better just to start your marketing rather than waiting on getting your website up and running or a toll free number set up or voice mail system or whatever else you’re planning on implementing in your business.

3) Ready or Not . . . Just Do It

Nike had it right when they came up with the slogan, “Just Do It!” Recite this as an inner mantra.

When you feel fear start to creep in, say to yourself, “Just do it!” and then take the action. Another good strategy is to consider, “What’s the worst that could happen?” Usually, the worst thing that could happen is infinitesimal compared to the HUGE benefit you could reap by just doing it.

When you find yourself worrying about what others may think of you . . . say “I am independant of the good opinion of others and am committed to achieving my goals . . . whatever it takes!”

If you’re doubting your knowledge or abilities, fall back on me as one of your mentors. You now have an expert investor on your team who has been in the business for years and has done well over 100 deals. When you take action and you’re asked a question you don’t know how to answer or your experience is questioned, say, “Great question. I’m glad you asked that. I’m a newer investor but my mentor has helped hundreds of people in similar situations as yourself. Let me get back to you on that if you don’t mind . . .”

Then, run over here to the blog and Click Here. Let me know how I can help.

Preparing Yourself for Real Estate Investing Success in 2009

Patrick Riddle — Mon, 29 Dec 2008 15:23:46 +0000

I thought it would be an appropriate time to reflect on 2008 in order to prepare for 2009. And what better way than to do a self-analysis . . . a personal inventory of your results from this past year. I have taken an excerpt from the business classic, “Think and Grow Rich,” by Napoleon Hill, to help you out.

I recommend setting aside sufficient time to ponder the questions below and to write down your responses.

“Annual self-analysis is an essential in the effective marketing of personal services, as is annual inventory in merchandising. Moreover, the yearly analysis should disclose a decrease in faults, and an increase in virtues. One goes ahead, stands still, or goes backward in life. One’s object should be, of course, to go ahead. Annual self-analysis will disclose whether advancement has been made, and if so, how much. It will also disclose any backward steps one may have made. The effective marketing of personal services requires one to move forward even if the progress is slow.

Your annual self-analysis should be made at the end of each year, so you can include your New Year’s resolutions any improvements which the analysis indicates should be made. Take this inventory by asking the following questions, and by checking your answers with the aid of someone who will not permit you to deceive yourself as to their accuracy.

Self-Analysis Questionnaire For Personal Inventory

1. Have I attained the goal which I established as my objective for this year? (You should work with a definite yearly objective to be attained as a part of your major life objective).

2. Have I delivered service of the best possible quality of which I was capable, or could I have improved any part of this service?

3. Have I delivered service in the greatest possible quantity of which I was capable?

4. Has the spirit of my conduct been harmonious, and cooperative at all times?

5. Have I permitted the habit of procrastination to decrease my efficiency, and if so, to what extent?

6. Have I improved my personality, and if so, in what ways?

7. Have I been present in following my plans through to completion?

8. Have I reached decisions promptly and definitely on all occasions?

9. Have I permitted any one or more of the six basic fears to decrease my efficiency?

10. Have I been either ‘over-cautious,’ or ‘under-cautious?’

11. Has my relationship with my associates in work been pleasant, or unpleasant? If it has been unpleasant, has the fault been partly, or wholly mine?

12. Have I dissipated any of my energy through lack of concentration of effort?

13. Have I been open minded and tolerant in connection with all subjects?

14. In what way have I improved my ability to render service?

15. Have I been intemperate in any of my habits?

16. Have I expressed, either openly or secretly, any form of egotism?

17. Has my conduct toward my associates been such that it has induced them to respect me?

18. Have my opinions and decisions been based upon guesswork, or accuracy of analysis and thought?

19. Have I followed the habit of budgeting my time, my expenses, and my income, and have I been conservative in these budgets?

20. How much time have I devoted to unprofitable effort which I might have used to better advantage?

21. How may I re-budget my time, and change my habits so I will be more efficient during the coming year?

22. Have I been guilty of any conduct which was not approved by my conscious?

23. In what ways have I rendered more service and better service than I was paid to render?

24. Have I been unfair to anyone, and if so, in what way?

25. If I had been the purchaser of my own services for the year, would I be satisfied with my purchase?

26. Am I in the right vocation, and if not, why not?

27. Has the purchaser of my services been satisfied with the service I have rendered, and if not, why not?

28. What is my present rating on the fundamental principles of success? (Make this rating fairly and frankly, and have it checked by someone who is courageous enough to do it accurately.)”

After completing this exercise, you’ll have an accurate assessment of where you are in life. This will be your measuring stick for the next year. As you see yourself improve over the next weeks and months, you’ll become more and more motivated to continue towards your goals.

I would like to end today’s post with one of my favorite quotes from Napoleon Hill . . .

“Whatever the mind of man can conceive and believe it can achieve.”

Let’s make 2009 the best year you’ve ever had!