What makes entrepreneurs like Elon Musk or Jeff Bezos so successful? Is it their ideas? Their determination? 

I’ve studied the best of the best in the investing and entrepreneurial world and I’ve discovered that every one of them follows a list of guidelines that lead to their success. 

In this article, I’ll reveal the 5 principles you need to follow to become a successful real estate investor to get you on your path to financial freedom. 

  • View Challenges as Opportunities

Incredibly successful investors and entrepreneurs always view challenges as opportunities. Instead of seeing a roadblock or difficulties in their life, they see an opportunity to grow and become stronger. 

Where people don’t want to do something, like a renovation in their building or dealing with a problem tenant, you get the chance to step in and make a profit because you’re solving a problem. 

Jumping on these opportunities will allow you to provide a lot of value by solving issues and difficulties that others don’t want to deal with. 

Lots of people give up easily because they think the reward isn’t greater than the effort. But if you see the work as a good thing, it puts a positive spin on it that keeps you going against challenges. 

  • Always Be Focused

The second success principle is to always be focused. When you look at people who are succeeding in life, you see that they have lots of businesses and they’re doing really well at managing all of them.

But how can one person do so many things at once? They’re successful at doing multiple things because they’ve had extreme success doing ONE thing really really well. 

Before you start flipping houses, doing wholesale, or trying a bunch of different things all at once, you have to find one thing to focus on and become a master at it. 

If you do that, you’ll avoid one of the biggest traps people fall into. All those side businesses end up being more distracting than they are useful. And that’s the opposite of what you want.

  • Achieve Clarity on What You Want

Get crystal super clear on what you want. From there you can be able to build a set of goals and make a plan to help you achieve them.

It might sound like an obvious step to be clear on what you want, but a lot of people aren’t very good at implementing it. This is a very critical principle, because if you don’t have a destination in life, you’re never going to get there.

Ask yourself the question: “what do I want”. When you get clear on the “what”, you can start answering other questions like “who can help me get there?” and “why do I want it?”

Once you get that clarity, it will move you forward at incredible speeds and attract people into your world that will help you succeed. Everything starts here on getting clear on what you want.

So when that opportunity comes into view, you can identify it, make a move on it, and be on the lookout for more of those opportunities in the future.

  • Know Your Purpose

You have to know your purpose; not a lot of people consistently focus on it. This success principle builds off clarity. Once you find out what you want, you need to start asking why you want it and why it’s important to you. 

It’s cool for other people to hear your WHY, but it also does something to you on the inside. It creates fuel. Fuel that drives you through challenges and opposition because you see them as opportunities to achieve what you want. 

When you have your purpose it’s easier to redirect yourself back on track to blow through those barriers. This is a very powerful step and it’s important to check in on this because you NEED to be 100% clear on what you want and why. 

When you know what your purpose is, everything else comes together and things start to build around it. 

It’ll seem like you’re getting closer and closer to your goal because you’re seeing what you need to do next. It will show you what milestones you have to pass and what turns you have to avoid. All because you’ve determined your purpose. 

  • Work With Mentors and Coaches 

Working with mentors and coaches is the most important principle because it continues to build on everything we’ve talked about. Even though it’s super important, it’s one of the last things people do. But once they do it, things really start to accelerate. 

One thing to remember is mentors and coaches are not interchangeable terms. 

Mentors are people who have been down your path and already achieved what you want to. These people will light the path and tell you what not to do. 

Now coaches are different. They may or may not have been down the path you want to travel. Coaches are a third party that can look at you and ask questions to give you direction so you can succeed on the highest level. 

All successful investors and entrepreneurs work with great mentors and coaches. They are all going out and building relationships with people in their community. 

They ask themselves “who is already doing what I want to do and how can I find a way to get in connection or in a community with those people?” They join masterminds, local organizations, or hire mentors and coaches to hold them accountable to their goals. 

So having these types of people with you is important so you can avoid the common pitfalls people fall into and get direction on what steps to take to achieve your goals.

That’s the 5 Success Principles laid out for you. All that’s left for you to do is put it to use. 

Start at principle #1 and over time you’ll become more focused and purpose-driven. These principles will help to make big strides towards the milestones you want to achieve.  

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