“Boy, he got lucky!”
Have you ever heard someone say that about your investment ‘wins?’ Some believe that your success is derived from luck… So the question becomes how do you get luck? Where does it come from? How can you get luck to provide you what you are looking for and get those so called ‘lucky breaks’. First, keep in mind that you CAN create Luck.
It is vitally important to FIRST get into this mindset. A negative ‘nothing ever works out for me’ actually repels LUCK. Not that you won’t have problems because you will…BUT when you do have LUCK on your side the problems get handled easier, better and get off your plate faster. Here are 3 Steps to obtaining MORE LUCK in your real estate investments:
1. Decide What It Is You Want – Your Goal(s).
I know this is success 101 but this is key. You cannot create Luck for yourself unless you are determined to achieve your goal(s) and you have plans in place to achieve them. By having your goals and reviewing them every day, this creates Luck. If you are wandering aimlessly in the apartment and commercial real estate world, and you ‘want to make more money’ or ‘get into dominating my market’ you will have a hard time creating Luck. Specific goals and the dogged determination to achieve them is one thing YOU ABSOLUTELY NEED to create Luck.
2. Work Hard, Hard, Hard on It. (Them).
Are you ready to pay the price for commercial real estate success? Just having goals and thinking about them is NOT ENOUGH. Its key, but not enough. You have to commit to working hard on your commercial real estate goals. The good news about hard work on your goals is that it creates momentum. Once momentum is created then you have mixed up your ‘batter’ of luck – now all you got to do is put it in the oven and watch it rise.
3. Listen To Your Gut (Intuition) In What It Tells You.
There will be many times that you will feel ‘right’ about a certain marketing strategy, way to approach an owner, creating a certain Joint Venture with someone, going to that seminar, buying that book, etc. Remember, if it feels right, GO FOR IT – NO MATTER IF MANY PEOPLE DISAGREE WITH YOU OR IT IS NOT WHAT MOST WOULD DO. There will be many situations where your gut will tell you to YES or NO. Make sure you listen. This is a BIG part of creating LUCK.
When I have listened to my gut the lucky things then start to happen and they happen one after the other. When I have NOT done this, then I have had problems and luck turned into ‘Bad Luck’ Many times we talk about theory, strategy, marketing, etc. as commercial real estate investors. BUT when it comes to plain old LUCK, this is the recipe to follow.