Free resource - Understanding the importance of motivation, ambition and positivity.

Discussion in 'General Property Investment Discussion' started by totallyproperty, Feb 17, 2016.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    Motivation, Positivity & Ambition Discussions

    In many ways it is how you react in the more difficult times for real estate which will dictate how well you do in the longer term. While some property investors may not agree, it is much easier to make money in the good times than to make money or retain your wealth in the more difficult times. So, motivation, positivity and ambition, what role do they play in the career of a real estate investor?

    Motivation

    When you begin your path towards a long-term career in real estate investment it can be daunting, it can be lonely and the amount of research required can challenge many people. It is during these early days that your motivation will be tested (when things inevitably do not run quite a easily as predicted) and quite frankly many people will fall by the wayside. In theory, investing in real estate is fairly straightforward, find a buoyant market, by an asset at the right price, create an income stream and sit back and wait for the money to flow. Well, if it was that easy everybody would be doing it.

    Different people will find different ways to motivate themselves, push themselves to learn about new markets and new types of asset and sometimes motivate themselves to be a little more speculative. In order to maintain your motivation you do need to have an eventual goal in mind whether this is related to wealth, financial security or a need to prove something to yourself and others.

    Positivity

    If you take a step back and look at the worldwide real estate market from 2008 onwards you may have found it difficult to have remained positive during this period. Economies were crashing, financial markets were in freefall and the financial liquidity of money markets hit rock bottom. Governments were forced to make billions upon billions of dollars available to maintain liquidity going forward, the authorities racked up massive budget deficits and unemployment was adding to an already difficult situation. How do you maintain a positive mental attitude in this environment?

    It is perhaps a little unfair to pick the recent worldwide recession as a test of your positivity but those in the real estate market for the long-term have a skill in overlooking the short to medium term challenges. There is no doubt that short-term sentiment and economic news does move markets but somebody with a positive attitude may see this as an opportunity to improve the quality of their property portfolio in the longer term?

    Ambition

    The Internet has opened up a whole new marketplace for real estate investors around the world. At the touch of a button you can see price trends in the US, Australia, Russia and the UK for example. In years gone by the ambition of many real estate investors was to focus their exposure on their local marketplace and asset types which they felt “comfortable” with. Those with ambition will be open to new ideas, new strategies and while they may maintain a core skill set focusing on a particular market or type of asset, this does not stop them looking outside of their comfort zone.

    There are some property investors who will take a short-term profit and leave the market, some quite happy to build a steady long-term portfolio while others will mix-and-match their exposure, introduce an element of speculative investment and always be on the lookout for the next deal. Thinking outside of the box is a term used often in investment markets but sometimes you need to look at things from a different angle and this tends to be those people with immense drive and ambition and a will to succeed at what
     
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