Was Napoleon Hill a real estate investor?? I’m not sure, but I do know that we can put his “Think and Grow Rich” success principles to work for us as real estate investors.
Regardless of if you are just starting on your investing journey or if you are an experienced investor, these principles work.? Let’s see what advice he offers and how we can apply them to create success.
1. “Have a definite purpose and back it with a burning desire for its fulfillment.”
As a new or seasoned investor we must determine?our purpose…or what is our “why”. Are we investing simply because the infomercial on late night TV made getting rich quick look easy? Or are we investing because we want to contribute to our retirement, create wealth over time, and provide our family the lifestyle we desire.
Our “why” or purpose has to be backed by a strong desire that keeps us focused on the result we want to accomplish while continuing to move forward toward success in real estate investing even when things are not easy.? A true investor plans on creating?calculated returns?over the long term rather than being a speculator who is only interested in short term, higher risk or immediate returns.
2. “Have a definite plan and express it with continuous actions.”
Every successful real estate investor will tell you that they have taken time to create a detailed written plan. They know the power of writing down their short and long term goals and determining a time frame for their achievement. Successful investing is not something we do occasionally…but a commitment of time and effort necessary to reach our goals every day. Napoleon Hill says we should have a burning desire.
Every plan must be followed by taking action. This means calling FSBO’s, mailing letters, putting up signs, going to auctions, working with Realtors, looking at properties, talking with people…and making offers, offers and more offers.?
3. “Close your mind tightly against all negative and discouraging influences. “
For new investors, one of the first encounters with “negative and discouraging influences” is from family and friends. They simply do not understand why we are willing to take the financial risk to make a profit on a property in the short term and they are certain we has “lost our minds” if we decide to buy and hold properties and become a landlord.
But in today’s wacky real estate market both new and seasoned investors are bombarded with negative influences 24 hours a day. Newspaper, TV and radio all are feeding us with doom and gloom about declining real estate values, increase in foreclosures, poor real estate sales, lack of available financing.
How do we overcome these influences? Join your local Real Estate Investor’s Association, become involved, participate in the training and education they offer and network with other investors. Keep in contact with real estate professionals and lenders. Seek advice and guidance from successful investors who are creating ways to win in a challenging market.
4. “Maintain a friendly alliance with those who will encourage you to follow through with your plan to achieve your purpose.”
Napoleon Hill talks about creating a “master mind alliance”. That is very good advice. Surround yourself with successful people who are like minded, are involved in similar interests and who consistently achieve their goals. These people are winners who will encourage, advise and challenge you as you follow you plan to real estate investing success.
Napoleon Hill ,and other great authors , offers information, inspiration and insight which boosts and fuels our personal achievement.? His principles ,when applied to all aspects of our lives ,will assist us in creating success and reaching our goals and desires.
By: Cherrathee Hager
About the Author:
Cherrathee Hager is a full time Real Estate investor and a remodeling and restoration contractor in Salisbury, N.C. She specializes in purchasing bargain properties ,Offering good rehabbable properties to investors, restoring and remodeling investment properties and historical homes for herself and other investors and homeowners. She is very much in demand by investors for remodeling because of the short turn around time and due to the excellent quality of work she does on the homes. Her remodeled homes usually appraise high and the properties sell in just weeks and not months because of their appeal to the buyers. She was awarded the Historical Preservation Award for work she did in revitalizing neighborhoods in 2008 by the Historic Salisbury Foundation. Currently she is working on a neighborhood revitalization project which is being funded by private investors and which will offer excellent iopportunities for investors on properties which will bring a high ROI when completed.
She is an author, real estate mentor and trainer. She teaches a class for new and intermediate rehabbers called “Working Miracles and Making Money with Bargain Properties”. Also a two day class called “Before and After”. She services the following areas in North Carolina . Salisbury, Charlotte, Albemarle, Statesville, Moorseville, Mocksville, and other areas by special consideration . Cherrathee may be contacted at twinoakproperties4u@yahoo.com .
