There is a saying that success breeds success and this is no different for property investors.
The vast majority of successful investors that I have met over my many years in the industry have shared many traits and commonalities.
They all also share a desire to provide a better life for themselves and their families and to create financial security or freedom.
The way they have chosen to do this is through property investing but in my experience they also share a number of qualities that help them along their road to success.
1. They have big dreams
Successful investors have dreams that they are continually working towards and they don’t let naysayers or dream-killers drag them down.
Along with passion, hard work and self-discipline, they love to dream big (their own definition of big) and are willing to share their dreams with others.
Most successful investors hone their skills and ability to gather people around them to share and support their vision – such as their family, friends, business partners and mentors – because they know how important that can be.
Most successful people also have the courage to follow their dreams and to trust their judgment and intuition.
2. They are focused
Most successful investors focus on spending their time and energy on the skills that expand their lives and support their real estate investing vision and goals.
They are clear and make mindful choices and avoid being or doing “busy things” that don’t support their goals.
They usually create a list of things that may prevent them from achieving their goals.
They consider the things that they may be doing, which might feel good in the moment, but are not contributing towards their journey of success.
3. They are always improving
The investors who are committed to long-term success have a strong desire to always improve.
They continually reflect on what worked and what didn’t and then make whatever changes are necessary.
They are always looking at ways to improve their investment strategies as well as building important relationships with like-minded souls.
The vast majority of successful people never stop improving and growing.
They are always looking for ways that they can stretch themselves to ultimately become better at what they do.
4. They keep their word
Successful people treat others the way they want to be treated themselves and this should always include keeping your word.
They keep their promises not only to themselves but to others because their word is their stand for excellence, trust and for who they are, which is to always do and deliver on what they said they would.
From always being on time for their appointments, to being counted on for the tasks they commit to completing, their word is consistent in all areas of their life.
Reliability, dependability and integrity are synonymous with their reputation personally and professionally.
5. They have a vision
If you want to become successful at anything at life you have to have goals, otherwise you won’t have anything to work towards.
Successful investors set goals to help get them where they want to be.
They have 30, 60, 90 day goals as well as one, three and five year goals (and beyond.)
They understand that one of the keys to success is to break down your dreams into smaller, more easily achievable steps.
This allows you to celebrate your little wins along the way, while also never losing sight of the end prize.
6. They celebrate the wins along the way
As I mentioned above, successful people always remember to stop and smell the roses during their journeys.
It’s about regular rewarding and celebrating the little wins.
What the most successful people have realised is that in order to create momentum, and to really build self-confidence and stay energised, it’s vitally important to reward yourself for even the little wins.
They may acknowledge a good day, a great week or an extraordinary month.
They don’t delay being happy or celebrating until the end because they know that every achievement is moving them towards their dream.
7. They develop meaningful relationships
Top performers surround themselves with a powerful circle of influence, who can support and inspire them along their journey.
Nothing is more important to successful people than their relationships because they recognise that the people they surround themselves with are not only instrumental in achieving their dreams but in living them, too.
Successful investors build great relationships by being engaged listeners, having a sincere win-win attitude, by being true to their word and building trust as well as through clear and respectful communication.
8. They are not afraid of failure
While it might seem a little odd to be talking about failure in a blog about success, but things not going right are educational and can help you to become a better investor.
The important factor is that successful investors don’t get hung up or dwell very long on failure.
While they try to minimise risk, they don’t spend a lot of time thinking about the negative.
It’s been said that there can’t be any great achievement or any outright success without failure.
So it’s important to consider that failure is the highway to success; it is simply part of the process.
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.