Mindset mastery is instrumental to achieving property success.
Is it possible to generate substantial cashflow through property? Is it possible to create financial freedom through property? Is it possible to build serious wealth through property? We all know the answers, and yet many people are absent of the mindset and the desire to get moving.
It is possible, and you should ask yourself, ‘if others have done it, why not me?’. The past does not equal the future and if a thing is humanly possible, it can be reached.
Hundreds of thousands of people have made property investments a success, so why not you? It all comes down to mindset.
You need the skillset and the technicality to succeed, but the absence of mindset will leave you upset.
What is the mindset for property success?
I want you to understand what is possible, what’s going to take and who you’ll have to become to achieve success on your property journey.
By the end of this blog post, you’ll have the foundations in place to aggressive move forward on your property journey, regardless of where you’re starting from or your own circumstances.
To quote Henry Ford, “If you think you can, or you think you can’t, you’re absolutely right.”
Where do property mindset beliefs come from?
Tip 1: If someone else can achieve property success, then so can I
You have to install the right mindset to be a successful property investor.
Your existing belief can come from your childhood and can also come from interactions with other people. But beliefs can also be changed.
If you want to replace your income, all you have to do is find other people who have done it. That means that it’s possible, otherwise they wouldn’t have been able to do it.
Ultimately, you just need to change your thinking. If they can do it, maybe I can do this as well, which is key to your property success.
If you go into your property investment thinking i.e. “Why me?” or “This is an issue and I am blocked so I can’t do anything”, there is little chance of your investment moving forward.
Instead, you need to shift heavily onto three things:
Inputs: What inputs are going into your investment journey?
Outputs: What are you achieving putting those inputs in?
Outcomes: What does it mean to you if you achieve what you want to achieve?
Tip 2: The confidence to step outside of your comfort zone
Property investing is about having the confidence to step outside of your comfort zone and achieve whatever you want in your life.
The saying goes, “if you do what you’ve always done, you’ll always get the same results.”
The actions you take will lead to certain results. If you want to change your life, we have to be the element of change and have to change first. Stepping out of the comfort zone can feel awkward or uncomfortable, but when you do it, it’s not as bad as you thought.
Tip 3: Build it like a business mindset
Most investors are sold a dream, i.e. financial freedom within property investment. The best way to do this is to run it like a business.
If you are geared up to look at property as a business, you can stimulate more care in what you are doing. Ultimately it will make you more equipped in creating:
- A support network that will help you to manage your investments
- A system in place that works for you and the strategy you follow
- Develop your mindset to be able to handle the results thrown at you and your business
How can property mindset be improved?
Tip 4: Surround yourself with the right people
Improving property mindset is something to be done on an ongoing basis.
In the Monaco Mindset YouTube series, we stress the importance of surrounding yourself with like-minded people. If you put yourself in an environment where you are not the smartest person, you can be stretched and people around you can stimulate your thinking. I’m doing this by being in Monaco, and you can do it by attending a property investor networking event.
If you’re interested in property, the people around you; family, friends and work colleagues, probably don’t get it. If you listen to them, it might deter you from action.
But if you know what you are doing, now is a fantastic time to invest because there’s so much uncertainty.
Tip 5: Be careful what you put into your head
You need to create a filter for what goes into your head.
The news on TV, radio, tabloids and broadsheets can negatively impact your thinking. It is important to know what is going on in the news, without it adversely affecting your mindset. A great way to choose what is in your head is to tune into Touchstone Education’s latest blogs, podcasts and YouTube videos.
Tip 6: Be self-conscious
You must always be careful about your attitude because we can easily talk ourselves out of things.
You have to be careful of the language you are using because language and words have energy.
Tip 7: Learn to think objectively
When it comes to investing, successful property investors leave their emotions out of the equation.
Having a personal attachment to an area – such as you’ve lived there since birth – won’t make a difference to people you sell it to or potential tenants, on its own.
By thinking objectively, learn to consider:
- Rental statistics and property values in certain areas
- What types of property have good rentability?
- What is in the local area?
- Transport connections
- Schools nearby
- What is the condition of the property?
Tip 8: Get the right education
To give you the full confidence that you’ll succeed in your goals is having the right education.
Touchstone Education’s property investment courses provide you with the essential skills that you need and up-to-date property strategies that are working.
We will give you access to the knowledge and to the networks that give you the best chance to succeed.
To find out more information about any of our property courses call us on 01302 897131 or email firstname.lastname@example.org.