BY LANCE EDWARDS— When you are preparing to do your multifamily deals, remember that your mindset plays a crucial role in your success.
You must believe that you are worthy of success and of the financial freedom that you desire. The money that is available to you is unlimited and you need to grasp a hold of that. Not only that, but you need to be aware of how words that you use when working with your private money sources affects your ability to seal the deal.
The labels that you attach to yourself play a major role in your ability to succeed. The word investor is thrown around a lot and this can create confusion. An investor is someone who has money and is looking for an investment vehicle. You need to refer to yourself as an entrepreneur.
An entrepreneur is someone who uses other people’s time, talent and resources to achieve his or her vision. This is what you are! An entrepreneur is someone who brings deals to the money while the investor
is someone who brings money to the deals.
Entrepreneurs get in the marketplace and solve problems and then move onto the next challenge. They are the “movers and shakers” and make things happen. If you call yourself a real estate entrepreneur, that language alone will empower you.
Once you have established your role, you then need to realize that the potential money sources are limitless. This mindset that you have limitless funds available to you is critical in helping you keep your focus. You need to determine how you are going to use it. Whether you think $20,000, $200,000 or $2 million is a lot of money, there are plenty of people out there who think that any of those dollar amounts is just a drop in the bucket for the right deal.
The bottom line is, do not let your mindset get in the way. There is so much cash looking for places to be invested that finding the money is actually the easy part. Finding the deals is the harder part. You can find people who will write you a check for $2 million for the right real estate deal.
If you are going to do the work, just do the work once and then get it to work for you forever. Direct your energy into finding other people’s money and putting it to work for you. Part of all of this is rising above your doubts and fears and projecting positive energy to your investors.