Four years ago, there were many millionaire apartment investors nationwide, and I knew quite a few of them personally. But unfortunately today, most are no longer millionaires. Thousandaires perhaps. (I just made up a new word!) The way I look at life is a big educational journey. And the most priceless thing you can learn is life-experience. In other words, you can’t put a price on wisdom. I define wisdom as the application of your life’s experience. I know a few people who not only remained millionaires after the fall of the market, but are even prospering at this time. To me, these people have learned from their life-experiences and have applied their highly valued knowledge to their investing. I observed that they have certain traits and mindsets that no one else has. Here’s what traits I have observed in keeping up with today’s millionaire apartment investors. Traits you can surely adopt yourself – it’s not too late!
1. Independent Thinking
Millionaire apartment investors think differently. Not just about money, about everything. The time and energy everybody else spends attempting to conform, millionaires spend creating their own path. They don’t wait around waiting for someone to make a move before they do. They think, and then they do. How about you? Have you been wanting to invest in apartments, but……..???
Millionaire apartment investors today are creative visionaries with a positive attitude. In other words, wealthy people not only have big dreams, they also believe they will come true. Wealth seekers set lofty goals and are not afraid of uncharted territories. When setting real estate investment goals, have the mindset that…”impossible is nothing”. Millionaire apartment investors believe when others don’t – that’s what sets them apart.
Writer Dennis Kimbro interviewed successful people to determine the traits they had in common for his book, “Think and Grow Rich”. He found that they concentrated on their area of excellence. Millionaires also tend to partner with others to supplement their weaker skills. They use training and mentors to refine their strong skills. Focus, focus, focus is what the best of the best in apartment investing do. They don’t stray from apartments – they master one thing.
Billionaire investing guru Warren Buffett says “Money is a by-product of something I like to do very much.” Enjoying your work allows you to have the discipline to work hard at it every day. People who interact with money for a living often love creating new deals and persuading others to complete a transaction. But finding your dream job may take time. The average millionaire doesn't find it until age 45, and tends to be 54 (on average) before becoming a millionaire. Wow, so there’s still hope! Woo-hoo!
Millionaire apartment investors are willing to sacrifice time and money to achieve their goals. They are willing to take a risk now for the opportunity of achieving something greater in the future. The majority of millionaires in the US today, achieved that status from real estate investing – and they still do it. Yes, they took a chance. They took some of their own money Or borrowed it from someone else) and took the plunge. Leo Bascaglia quotes, “the person who risks nothing, does nothing, has nothing, is nothing, and becomes nothing”. Ouch!
Millionaire apartment investor are constantly presenting their ideas and deals and persuading others to buy into them. They are good salespersons and are oblivious to critics and naysayers. In other words, they don't take “no” for an answer. Millionaire apartment investors also have good social skills. In fact, when writer T. Harv Eker analyzed the results of a survey of 753 millionaires for his book, “Secrets of the Millionaire Mind”, he found social skills were more important than IQ. Just look at Millionaire apartment investor are constantly presenting their ideas and deals and persuading others to buy into them. They are good salespersons and are oblivious to critics and naysayers. In other words, they don't take “no” for an answer.
Millionaire apartment investors also have good social skills. In fact, when writer T. Harv Eker analyzed the results of a survey of 753 millionaires for his book, “Secrets of the Millionaire Mind”, he found social skills were more important than IQ. Just look at Donald Trump. His fortune has fluctuated over the years, but his ability to sell himself – whether as a TV personality or as the force behind a line of neckties – has always brought him back among the ranks of celebrity millionaires. I personally learned from Robert Kiyosaki that no matter where we are, at the gym, the beauty shop, shopping for groceries, we should ALWAYS BE SELLING!