Many years ago I heard Jim Rohn, the father of personal development, say for you to get on in life you must work harder on yourself than you do on your or job business.
I’m sure he was right – that’s partly why I developed my Mentorship Program, to help my mentees work on themselves and develop the mindset of a multi-millionaire
Today let’s quickly look at 4 ways you can achieve this;
1. You are the average of the five PEOPLE you hang around the most
I have heard Robert Allen say that your bank account balance is typically the average of the five people you hang around the most.
So surround yourself with people who you want to be like.
People who think big, think positively and take action.
One way to meet positive people is to attend seminars and courses.
Get out and meet people who are playing big!
2. Your HABITS create your future
American author Brian Tracy explains how your daily habits create your long-term results.
Your habits today will determine your outcomes tomorrow.
If you want to be a millionaire, you’ve got to have millionaire habits.
If you want to be a great leader, you must have the habits of a great leader.
If you want to get in shape, you’ve got to have the habits of a fit person.
What new habit can you put into place right away?
3. Stimulate your mind
Jim Rohn says, “Are you feeding your brain protein every day, or are you just giving it candy?”
4. Find a mentor
All successful property investors, in fact high achievers in all fields, have one thing in common… they have a mentor.
This has been one of their secrets to their success.
All the successful property investors I have dealt with over the years have hung out with like minded investors and followed in the footsteps of the others who have already done what they have wanted to achieve.
This helps them see the land mines before stepping on them and helps them achieve success more quickly.
The problem is there are lots of people out there calling themselves real estate experts and many do a great job.
However the recent property boom even made some below average investors look like a genius.
What to look for in a mentor:
When looking for a mentor my suggestion is go back to the fundamentals when you choose who’s ideas you will listen to.
Look for people who have at least got the following credentials:
1. They must be currently actively investing in real estate using the strategies they are teaching.
There is no room for theorists here.
2. An absolute bare minimum of 40 property transactions to their name so they had experience dealing with different buying and selling situations.
Currently there are books and educational courses written by people who have bought 5 or 6 properties.
I would be wary of these.
3. Somebody who has been hands on investing for no less than 12 years, so they have had experience in different market conditions.
They must have successfully used their strategies through a full property cycle.
If somebody has managed to survive through the early 90′s (the depression we had to have), the middle 90′s (during low inflation), the late 90′s when we had a real estate boom and the early 2000′s when we had a real estate bust and are still able to prove that their system works…then I want you to listen to these people.
4. Somebody who doesn’t have a property to sell you.
Now this isn’t necessary in all cases but just something to be aware of.
Ensure there isn’t a potential conflict of interest.
5. Somebody who is not selling to your emotions, such as act now or you will miss out and somebody who doesn’t put others down to make them look good.
Look for somebody with integrity and a commitment to disclosure.
6. Don’t be scared to pay the right people to mentor you.
Of course our mentor is going to make money, if they are good they deserve to. If everything is disclosed up front there should be no conflict of interest.
7. Avoid somebody who is offering you something exciting, speculative, new or the latest thing.
Don’t look for excitement in your investments.
Your property investments are your way of securing your financial future.
Don’t be distracted from your long term plans or strategies by promises of quick riches.
Find the system that focuses on long term wealth creation.
By the way…I’ve been running my Mentorship Program since 2006.
I teach people the science of becoming wealthy.
Why not find out more about it by clicking here?
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.