Mindset
What do you think would be the biggest blocks to someone’s success in real estate investing?
Some may say their lack of experience, or funding issues, possibly not having enough agents to find them good properties, and others may say it’s the market itself - not doing what they want it to. All sorts of reasons as to what’s stopping them from getting what they want.
These all sound like they could be valid reasons they believe are holding them back, but personally I think it all comes down to just one thing – their own mindset.
I believe someone’s mindset and beliefs about certain things will either help them succeed, or prevent them from succeeding. When you have your mind set in a way that helps you rather than hinders you, everything seems to flow easily and effortlessly.
To give you an example of how this works, think of all the radio stations in Hawkes Bay that are now playing in the room, your car, work etc, wherever you may be right now. Even though you may not be able to hear any of them, it doesn’t mean they are not playing - or transmitting. The reason why you can’t hear them is because you aren’t tuned into the frequency of any of those stations. If you were to tune into any of them, you could listen to whatever is being broadcast on each station, but only one station at a time. Now think of what you know to be true about you and the real estate market. This is your belief or set of beliefs, and the station you are tuned into.
Now to expand on it in more depth and the practicalities of it, think of it like this: - think of yourself as being the radio station being broadcast to the world. Realise now that only what matches your frequency that you are emitting – can be attracted to you. In other words, what you are putting out there can only attract what matches your transmission, your frequency, your output, your thoughts, your ideas and your beliefs.
For me, when I’m in a hurry to get somewhere, I usually get stuck behind some slow driver going 30 – 40km/h or get all red lights etc, and it ends up taking me longer than usual to get to where I’m going. That’s because what I’m putting out there I’m bringing back or attracting to me. Similarly if I was in no rush to get where I was going, it would be a nice peaceful trip, most likely all green lights, people being courteous in traffic, all the things that I attract now because I’m in a peaceful and relaxed state of mind, and the time is not an issue.
You may have a belief that people are out to get you, or take advantage of you, or you don’t trust what others say to you, all sorts of beliefs about everything. And whatever they are – it must match what you believe - until the belief is changed.
For example, if you have the belief that it’s hard to get finance to purchase more properties - only what matches that belief can be attracted to you. Or you may have the belief that – all the good properties always go to someone else before I get them. It must be true for you, or match your belief. It will stay like this until you can change that belief to a more empowering one.
All a belief is this:- it’s a thought that you keep thinking over and over, and over, and over again until it becomes a belief and your truth. It’s the same with any limiting belief, until you realise that the belief is what’s holding you back, you will stay where you are. A new set of beliefs is what is needed to get you moving again, and on your way to where you want to go.
How do you change your beliefs? Some I’ve used in the past are affirmations or visualisations which can work well, but do take time. You also have to realise that all of your beliefs, whether it’s about yourself, other people, work colleagues, your boss, sales people, lawyers, accountants, religion, politics, relationships, health, money, losing weight, anything at all – it is only your point of view and not necessarily the truth. However because we’ve had these thoughts so often that end up creating our beliefs, we then attract everything that matches what we broadcast out there (our beliefs), and so we get more and more evidence to prove to us that our beliefs are really true!
There was a quote I wrote in my book that went like this “Many plane accidents occur because pilots’ perceptions filter out and discard reality. An aircraft may be heading towards the ground, yet if the plane is level, he will ignore his instrumentation with a rationalisation that it is wrong. Similarly, juries are known to have made up their mind about a case usually by the end of the second day of a trial. What then happens is they filter out any new information that does not agree with their perceptions, and concentrate only on that which agrees with their biases. Individuals act as filters for all information they receive; each fact is measured against a set of personal, social, cultural or religious biases and then incorporated into an individual’s consciousness. Everything we do is coloured by our perceptions and expectations. Information is always distorted, and if it doesn’t fit our beliefs – it is discarded.”
Below I will use some statements (beliefs) about real estate investing and the emotions (frequency) that correspond to each belief. You could also use similar points of views/beliefs around money, health, relationships etc etc.
The top of the list goes from an equivalent emotion (frequency) of appreciation and empowerment down to the bottom of the list to an emotion of despair, depression and fear etc.
Joy/Knowledge/Empowerment/Freedom/Love/Appreciation
Money is abundant, I am appreciative that money always flows to me. Real estate is fun, easy, effortless and there are so many ways I can make money whenever I want to.
Passion
I love doing what I’m doing, this is really what I want to do doing with my time.
Enthusiasm/Eagerness/Happiness
I am enjoying the learning, learning is fun and I love doing this.
Positive Expectation/Belief
I love doing what I’m doing, I am really expecting things to work out for me.
Optimism
I am confident I’m moving in the right direction for me, things are going along well for me right now.
Hopefulness
I am hopeful that what I am learning will give me the information to succeed at this.
Contentment
Right now, even though I would like more - if nothing changes for me, then I am happy exactly where I am
Boredom
I’m not getting much out of all this, in fact I find it a bit of a nuisance learning new things.
Pessimism
It’s alright for him, and for others, I don’t have their confidence and I really don’t think I could ever be like that, or do the things to be successful. It may work for others, but probably not me.
Frustration/Irritation/Impatience
This is way too frustrating for me, I want things to happen now! Why can’t I get the same sort of deals when I want them, it’s really annoying to me.
Overwhelment
This is all to much to take in, so many things I am supposed to learn, I don’t think it’s worth it.
Disappointment
I missed out on several deals, the banks have said no to me. I feel stuck right now.
Doubt
I’m doubting all this now, it sounds good in theory however I don’t think it actually is true.
Worry
Even if I do okay at this, I don’t like debt and would be afraid of losing it all. There are so many things I keep worrying about, it is very stressful for me.
Blame
My parents were poor and taught me having money was bad. They are the reason I’m where I am today.
Discouragement
Nothing I do seems to work out, I try really hard and never seem to get anywhere, what’s the point of it?
Anger
I’m upset that some people have success and others don’t through no fault of their own, it angers me that some people have to work so hard and get very little for what they do.
Revenge
I wish I was in government I would sort out those rich people and take all their money away, see how they like it. They should be taxed at a higher rate and give it to the less deserving like me. Why should they have it all and I have nothing?
Hatred/Rage
It really angers me this whole money concept, it’s impossible to get ahead, the whole system is corrupt, the poor keep getting poorer while the rich get richer, it sucks big time.
Jealousy
It’s alright for him and all these others. I wish I had that too but know I never will, it’s just not fair.
Insecurity/Guilt/Unworthiness
My parents told me money is evil and they were right. I buy lotto tickets and hope one day I will win, and if I did I would give it all away to people who have nothing. Money only creates arguments, I would rather have nothing and be happy.
Fear/Grief/Depression/Despair/Powerlessness
There is no point me doing anything, I feel powerless, resigned and tired. All I want to do is sleep all day and forget about the rest of the world. It’s an evil world out there and I wish I could just go to sleep and never wake up.
So, whatever statement or statements are close to what your current beliefs are is where you are, there’s no right or wrong about it, it’s just what is. What you want to ask yourself though is; this belief or reality I currently have – is it getting me to where I want to get, or is it limiting me in some way, or holding me stuck where I am?
Once you can identify that and be okay with it, accept it 100%, you can then start moving up the scale to where you would like to be.
As you get to each higher level, your new belief patterns will of course be different.
This in turn will attract to you whatever matches that new belief.
Graeme Fowler
Disclaimer: Nothing is this article is meant to constitute financial advice of any kind, and is the opinion of the author only. Seek professional advice before making any financial decision.