16 – The Nine Habits of Highly Effective Real Estate Investors
In this episode of Get Real Wealthy Season 4, Quentin D’Souza shares the qualities he has observed in successful real estate investors, and what you can learn from them.
Quentin says that successful investors possess certain qualities that he has observed over the years. He has met investors who own one or two investment properties and those who own $300 million in assets. There is a big difference between the two types of investors in terms of growth. He advises that to achieve your goals, you should follow people who have already succeeded in it. If you want to own one or two investment properties, you should seek advice from people who have done so. If you want to grow a real estate empire with $300 million in assets, you need to find those who have already achieved that goal.
Quentin shares that the first quality he has noticed in successful investors is their willingness to never stop learning. Successful investors are always seeking new knowledge and opportunities to grow. They know what they know, but they are aware that there is always room for improvement. The second quality of successful investors is that they do not make excuses. They take responsibility for their actions and admit their mistakes. They do not dwell on past failures but use them as learning opportunities to improve and continue to grow.
The third quality that successful investors possess is their constant effort to improve upon what they have already done. They make slight tweaks or little changes to their methods to continue growing and bettering themselves. They recognize that there is always room for improvement, and they actively work towards it. The fourth quality of successful investors is that they celebrate their achievements along the way. They take time to acknowledge their progress and enjoy the fruits of their labor. Whether it’s a dinner out or a vacation, they take time to celebrate their successes, big or small.
The fifth quality is that they follow a vision and a process for achieving their goals. They have a clear vision and a plan to reach their objectives. They may use a vision board, quarterly plans, or 30-60-90-day goals, but they always have a process that they follow to achieve their goals. The sixth quality of successful investors is their commitment to keeping their word. They strive to do their best and follow through on their promises. They work hard to help others and achieve whatever they said they would do.
The seventh quality is that they dream big and achieve bigger. They set lofty goals and push themselves to achieve them. They continuously work on their process to achieve their goals, which often leads them to achieve more than they thought was possible. The eighth quality of successful investors is that they leverage their failures throughout the process. They understand that failure is part of the journey and use it as a learning opportunity. They use their failures to grow and do better in the future. Finally, successful investors have deep relationships with others. They understand the importance of building strong, meaningful connections and leverage those relationships when needed. These relationships often help them achieve their goals faster and more efficiently.
In conclusion, Quentin suggests that to become a successful investor, you should reflect on these qualities and make some changes while never stopping learning.
Important Links and Resources
About the Author Quentin DSouza
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Action Taker's Real Estate Investing Planner, The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords, The Filling Vacancies Toolbox: A Step-By-Step Guide for Ontario Real Estate Investors and Landlords for Renting Out Residential Real Estate, and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.
