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Over the 5 decades I have been involved in real estate I have had the privilege of working with many successful property inve In that time I have seen some who I thought smarter than I fall by the wayside when their decisions proved to be wrong and I have carefully observed those who have maintained and grown their long-term wealth.<\/p>\n I have had many lengthy discussions with successful property investors and business people who have become clients of Metropole<\/a> to look for points they had in common.<\/p>\n It has been very informative to discover they had very similar habits and attributes which contributed to their ongoing success.<\/p>\n If you want to become a successful property investor, I suggest you consider putting these ideas or concepts into action.<\/p>\n They have worked for other successful people so they should work wonders for you.<\/p>\n What happens to you is a result of your thoughts, your feelings, and your actions. <\/p>\n So take responsibility for both the good and the bad things that happen to you.<\/p>\n I don\u2019t believe in circumstances or luck.<\/em><\/p>\n People create their own circumstances or luck by putting themselves in the right frame of mind to accept success.<\/p>\n Successful people know they are the pilot of their own lives.<\/p>\n The less successful people feel they are just a passenger going along for a ride.<\/p>\n By taking responsibility for both the good and bad things that happen in your life you will reduce the number of bad situations that occur and increase the number of good things that happen to you.<\/p>\n I find that underachievers love to take responsibility for good results but always seem to blame others for their bad results.<\/p>\n Overachievers know that both the good and the bad occur and that there is no one else is to blame for either.<\/p>\n Once you have made a decision stand by it.\u00a0 We all make decisions in different ways.<\/p>\n Some of us just make decisions intuitively.<\/p>\n Others must think through all the ramifications before they make a decision.<\/strong><\/p>\n Yet others of us make our decisions on gut feel \u2013\u00a0 we just know what feels right.<\/p>\n Whichever way you make a decision once it is made, stick to it and don\u2019t question it, even if others around you do.<\/p>\n You will never only make good decisions.<\/p>\n That\u2019s impossible.<\/p>\n Just accept your decision.<\/strong><\/p>\n Follow through. Then deal with any problems that arise immediately.<\/p>\n Don\u2019t let problems sit around and fester, they never disappear.<\/p>\n So don\u2019t beat yourself up over it, deal with it and move on.<\/p>\n It is often been said \u2018the only constant thing in life is change.\u2019\u00a0 So look forward to changing and see it as an opportunity and take advantage of these opportunities while others are frozen in the past.<\/p>\n Property markets change, interest rates change, supply and demand change.<\/p>\n The market sentiment certainly changes.<\/strong><\/p>\n The great thing is that whenever a change occurs it opens up fantastic opportunities.<\/p>\n If you are committed to moving forward, you will have to move out of your comfort zone.<\/p>\n This is change and initially feels uncomfortable, but if things stay the same you will find you are really moving backward.<\/p>\n Some people see the cup half-full, while others see it as half empty.<\/p>\n When confronted with opportunities, the average person finds reasons why not to do something, yet successful people look for reasons why they should take action.<\/p>\n Find ways to make the situation work, rather than not work.<\/p>\n This is particularly true in property where you will find vendors with problem properties.<\/p>\n If you find a way to solve those problems you will be adding value and making money.<\/p>\n Successful investors are optimists. On the other hand, pessimists are unlikely to be successful investor because they continually seek positive confirmation of their negative world views.<\/p>\n Speculation is based on hope.\u00a0 Investment is based on fact.<\/p>\n Speculators look for the things like the next \u2018hot spot\u2019 or the next big thing, or the latest fad.<\/p>\n Then they hope things will work out.<\/p>\n Investors recognise that property investment can be boring.<\/strong><\/p>\n They know it\u2019s not very exciting just buying a good property and waiting for it to increase in value, but they don\u2019t look for excitement in their investments.<\/p>\n They don\u2019t want to speculate.<\/p>\n Investors ask questions like what has worked well over the last 20 to 30 years. They don\u2019t try to pick the next hot spot.<\/p>\n Instead, they follow a strong longstanding trend.<\/strong><\/p>\n While successful investors avoid risk by looking for predictable returns, speculators would say \u2018Well this area hasn\u2019t performed for a long time and it is about time for it to perform\u2019 or \u2018Now must be time for things to change.\u2019<\/p>\n Many speculative investors live in the world of fantasy hoping luck will solve their problems.<\/p>\n Super successful investors know that no matter how much they wish for something to happen it is not luck that\u2019s going to make it happen.<\/p>\n They look at the reality of every situation and realise that they make their own luck by working hard and focusing on facts.<\/p>\n They don\u2019t expect to do everything themselves and they are not afraid to pay for good advice.<\/p>\n I\u2019ve often said \u2018If you\u2019re the smartest person in your team you are in trouble.\u2019<\/p>\n So be honest with yourself about your abilities.<\/p>\n You can\u2019t be good at everything but you have the potential to be great at one thing.<\/p>\n So choose one or two things to focus on.<\/p>\n Then find others that are better than you at the things you aren\u2019t good at and make them part of your team.<\/p>\n They are not scared of taking on debt.<\/p>\n They have learned how to use other people\u2019s money to grow their own substantial property portfolio.<\/p>\n While most beginning investors use finance to buy properties, experienced property investors understand that once they have a property portfolio they will be able to borrow against it and use finance to fund their lifestyle.<\/p>\n They have learned to hang out with \u2018winners\u2019 not \u2018whingers.\u2019<\/p>\n Find a group of like-minded people and meet with them regularly to help you in your investment endeavours.<\/p>\n Learn what makes winners and copy their habits.<\/p>\n If you commit to doing something always make sure you do it.<\/p>\n I have seen so many people in the investment business that are full of \u201cwind.\u201d<\/p>\n They tell you they will do something and create all these sorts of excuses why it hasn\u2019t happened.<\/p>\n Some of them are acting as honestly as they can.<\/strong><\/p>\n Some of them never had any intention of keeping their commitments.<\/p>\n To stand out from the crowd you must do what you commit to doing.<\/p>\n It will get you a great reputation in the real estate investing world.<\/p>\n They have a different mindset and think of the big picture while underachievers tend to get lost in fine detail.<\/p>\n For example, successful investors recognise that the value of their property, if well positioned, will double every 7-10 years<\/a>.<\/p>\n Yet the average investor will worry about fluctuation in interest rates or land tax changes or other minor details.<\/p>\n They tend to get lost in the detail and often get paralysed while analysing the situation and they never take action.<\/p>\n ALSO READ: <\/strong><\/span>Property market still on the way up: Virgin Money property predictions for 2022<\/a><\/p>\n<\/div>\n![\"Over](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2014\/12\/life-directions-300x265.jpg\" "\\"Over")
stors.<\/strong><\/p>\n1. Take full responsibility for your life<\/span><\/span><\/h2>\n
2. Become a pilot \u2013 not a passenger<\/span><\/span><\/h2>\n
3. Become Decisive<\/span><\/span><\/h2>\n
![\"inspiration](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/06\/31566982_l2-300x300.jpg\")
<\/p>\n4. Embrace change<\/span><\/span><\/h2>\n
![\"inspiration](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/06\/13171473_l-300x171.jpg\")
<\/p>\n5. Find opportunities where others see problems<\/span><\/span><\/h2>\n
6. Successful property investors invest. They don\u2019t speculate<\/span><\/span><\/h2>\n
![\"Concept](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/06\/45053804_xxl-300x252.jpg\")
<\/p>\n![\"location](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2015\/08\/location-map-house-suburb-area-find-300x225.jpg\")
<\/p>\n7. Super successful investors build a competent team around themselves<\/span><\/span><\/h2>\n
![\"Super](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2015\/07\/Team-at-work-300x198.jpg\" "\\"Super")
Successful investors surround themselves with people they trust who know more than they do.<\/p>\n8. Successful property investors have learned to use debt wisely<\/span><\/span><\/h2>\n
9. Successful investors belong to a Mastermind Group<\/span><\/span><\/h2>\n
10. Successful investors act with integrity
![\"success\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/06\/31217695_l-300x278.jpg\")
<\/span><\/span><\/h2>\n11. Super successful investors think very differently to average investors<\/span><\/span><\/h2>\n