Investing is like entrepreneurship in that sometimes, it can feel like a roller coaster. Occasionally, the extreme highs, lows, and multiple medium-intensity moments occur all in the same day. Luckily, with real estate, that roller coaster experience is a bit less bumpy when compared to the stock market, but they still exist nonetheless.
With any investing endeavor, you’re taking on risk, just like if you were to start a new business, you have no idea what might happen. It might be a success, with sales skyrocketing, or it might be a total flop, leaving you downright depressed.
To wade through these waters over the long haul, it takes a bit of grit, the ability to talk yourself back up the hill after tumbling downward, absolute determination, and sometimes, some thick skin. That’s because only 10%-20% of your success comes from tactics, knowledge, and mechanical details.
80% – 90% of your success is a result of your mindset.
Mindset has become quite the buzzword lately, but what does it mean to have a positive, grit-inducing, get-up-again attitude when it comes to investing in real estate?
In this article, I’ll share several mindfulness practices, the power of vision boarding, and a few other details that some may consider to be woo-woo but have seriously impacted my life and my attitude toward investing.
Make Your Dreams and Wishes Physically Visible
I spoke to someone recently who shared their story with me about their ups and downs as a real estate investor and entrepreneur and how they have managed to generate millions, lose it all, and create it again. The things that stuck out to me the most were:
- Their intense belief in the power of a physical vision board.
- The sheer magnitude of having $50 million to lose in the first place.
I, too, have created vision boards, cut and pasted pictures of things and places that I thought were a reach at best, and watched life unfold to make those wishes a reality. I know I’m at risk of losing some of you practical, analytical folks, but I’m telling you, vision boards work.
Don’t just take my word for it. The reticular activating system inside your brain recognizes the goals you make physically visible (by cutting and pasting pictures onto a poster board) and subconsciously draws you toward those people, places, and things in real life.
When you have a physically visual representation of your greatest hopes and dreams, you’re less likely to forget what you’re working toward and more likely to implement baby steps toward achieving those big dreams.
Maybe they come to fruition after a ton of hard work the very same year, or perhaps you trod toward your most significant goal slowly and achieve it in five or ten years. Nonetheless, there’s something innately powerful to seeing your dreams in front of your face each day.
Use Your (Potential) Pain As Fuel
Another powerful goal-setting exercise can be achieved through intentional journaling. I’m not talking about waking up and writing your thoughts, frustrations, and daydreams each morning over a cup of coffee. Instead, this is a very specific 30-minute exercise.
Take a sheet of paper and set a 10-minute timer. Within the next ten minutes, you’re going to brain dump all of your greatest, biggest wishes and goals onto this paper. Write as fast as you can without analyzing what you’re writing. Fill the paper with the craziest places you want to go, the most expensive things you want to buy, the most enthralling experiences you desire, and everything you could possibly want in this life.
When your 10-minute timer dings, circle your number one goal and underline your top three one-year goals. Write each of those four items on another sheet of paper, leaving plenty of space in between.
Set your 10-minute timer again, and this time beneath each goal, write a short paragraph about why you must achieve this goal. Maybe you want to show your kids what’s possible, perhaps you want to break a generational pattern in your family, or maybe one of those goals has been a life-long dream for you. Use emotionally charged words that create feelings and impact when you read them.
When your timer dings, set it for another 10-minutes, and this time write beneath each goal what horrible pain you’ll feel if you do not achieve the goal. Will you let someone (or yourself) down? Will you remain in a cycle of stuck? Will you fail to prove your worth to the world? Whether those are facts or not, write about the negative impact and feelings you’ll have around the failure of that achievement.
I know this seems harsh, but this works because people’s daily decisions aren’t made out of comfort. People buy things, do things, and go places to solve their pain points. So, don’t just read this through contemplating your interest in the activity. Stop right now and do the exercise. These next 30 minutes might change your life.
Claim Your Aspirations As Truth
Another exercise toward cultivating your mindset for financial success is to claim your goals out loud. Whether your friends or family think you’re crazy or not doesn’t matter. If you, in full belief that the dream will become a reality, speak your goals out loud, you’re more likely to achieve them.
This is where a consistent journaling practice may be beneficial, or you may choose to speak affirmations each morning, reinforcing your belief in yourself as someone who can achieve said goals. Huge stars like Oprah have done similar practices, while others like Jim Carey or Demi Lovato have taken more action-oriented approaches like writing themselves a considerable check or post on social media that they’ll sing the National Anthem at the Superbowl.
Other ways to make progress verbally include replacing everyday phrases you use that contain negative connotations with phrases that exude confidence, hope, and possibility. As an example, replace “I just can’t get over this problem” with “I’m thankful for this opportunity to learn something new and grow.”
I’m not suggesting you become a positivity robot, but that, instead, you become mindful of your thoughts and the language you’re using internally and externally. Begin to speak as if your goals are attainable and have already been achieved.
Implement A Practice Of Gratitude
At the root of it all is gratitude. Being thankful for where you are in life, what you’ve learned from the experiences you’ve had, and for the achievements to come.
A practice of gratitude can be implemented in the form of meditation, where you take 5-10 minutes daily to close your eyes and think about all the things you’re deeply grateful for. If meditation is a little too deep for you, journaling your thanks is a great practice.
I’ve even heard of practicing gratitude vision-board style where you’d have pictures of your kids, achievements you’re proud of, and events you enjoyed. Each time you look at this board of gratefulness, you allow yourself to get emotionally immersed in appreciation for those people, places, and things.
A gratitude practice can be implemented in 10-minute pauses throughout your day, during a morning or evening routine, or even as part of your exercise routine! Make a plan to be grateful for all that has happened and all that will occur, and insert it into your lifestyle in a way that supports your daily routine.
Allow The Universe To Reciprocate
Now, you’re probably reading all of this, wondering what on Earth this has to do with money, financial freedom, or real estate. Well, when your mindset is in a positive place, you’re clear on your goals, and you’ve implemented gratitude practices, energy (often in the form of money) flows to support your desired achievements.
So, even if you feel silly, begin using mindset work to create the life you want. Implement a personal routine that when you’re finished each day, makes you feel like the lofty dreams you’ve always had are now concrete and achievable. With your goals in focus, you’ll be more likely to do research, notice opportunities, and pursue connections to make those goals a reality.
Maybe you want to have 1 million dollars invested in real estate one day, and you stumble upon a method that encourages you to invest $50,000 at a time into various stable commercial assets, wink wink.
And then suddenly, you come up with a plan to set aside or earn that $50,000 extra per year.
Boom! You’re already on your way to achieving your big scary goal!
Practice gratitude, do the 30-minute goal setting exercise, claim your goals out loud, and create a vision board because if you don’t, you’ll never know what might have happened if you did.