What makes a successful property investor/developer?
I’m often asked how I go about my developments and what people should do?
The most important things that I always tell people who ask my opinion is, “first, invest in yourself by getting your mindset right and educate yourself about whatever field of interest you choose”.
Investing in yourself is the single most important thing that anyone can do. Having the right mindset in any endeavour is critical. Learning about property and property investing is crucial to generating successful outcomes.
A common thread amongst successful individuals is having the right mindset and attitude about creating wealth.
However, learning the systems and strategies available to bring about highly successful outcomes in property, is the key.
Successful property investors and developers are not born … they are made.
Analysis of a Property Developer — The DNA
- Successful property developers aren’t born
- They take time to learn, grow, mould and become successful
- Their success is a combination of education, attitude, experience, and instinct
- They learn from victories and failures
- They assemble and develop the right team around themselves
- They are problems solvers
- They take time to analyse the pros and cons
- They take action
- They stay focused on the goal
- They take responsibility
- They are patient and committed
Can anyone become a property developer?
Yes — absolutely! It’s a decision, but you must know “why” you want to be a developer.
For me it’s about providing long term financial freedom and stability for my family. Property renovations or developments enable me to build a long-term property portfolio for my retirement, that generates a passive income day in and day out.
But it’s not just about the money…for me its also about the doing…the creating. I get the biggest buzz out of creating a beautiful product that people want to buy or rent from me.
So, in a nutshell, to be a successful property investor or developer you must:
- Develop the correct attitude & success mindset — believing you can do it is crucial and belief comes from learning how to do it and by following in the footsteps of someone who can show you what to do.
- It’s knowing what to do — it’s all about following a successful system.
- Finally, it’s all about taking action.
Do you have the right qualities?
Can you read, write, listen and take action? If so, you have the attributes needed.
It’s not critical to know how to do all aspects of the development process, but you must be aware and understand the steps that are involved…you will eventually hire people who know how to do the nuts and bolts.
Do you have the right attitude?
- Get your mindset right
- Develop the belief
- Develop the drive and motivation — it comes from the “WHY”.
- Reprogram your belief system
- Why do I want to become a property investor/developer?
- What is my driving motivation?
- Do I have any property investment experience?
- Do I have any knowledge to be able to undertake a renovation or development?
- Do I have the right team of professionals around me?
- Can I invest a couple of hours of quality time every day to manage the process?
- What financial resources do I have at my disposal to be able to obtain finance from a lender?
- What am I willing to do to learn the process, systems and strategies to ensure a successful outcome?
- Am I willing to EDUCATE myself FIRST, before taking the plunge into property?