Written by Leslie Quinsay, Real Estate Investor
“Sow a thought, and you reap an act;
Sow an act, and you reap a habit;
Sow a habit, and you reap a character;
Sow a character, and you reap a destiny.”
To be a truly successful investor you must always be moving forward. Once you get started it is important not to lose your momentum. Be sure to stay focused on your goals and keep taking action, no matter how small, towards them. If you already own investment property your focus should now be on how to continually grow your portfolio. If you are just getting started keep in mind that you should always “think big.” Once you have a thorough understanding of the basics of real estate investing it is up to you to take action and begin the process of acquiring properties and continuing to build your portfolio.
When I first got started with real estate investing I had set a goal of acquiring one property a year. The thrill and pride I had in myself after successfully acquiring that first property didn’t last very long and was soon replaced by a never-ending itch to do more. Although I could have sat around and waited until the next year to even consider a second property I decided to keep moving forward and added two more properties to my portfolio in that first year. It’s amazing what you can accomplish once you set new standards and take advantage of the momentum created simply by taking little actions every day.
The funny thing about it is that I spent several months eagerly anticipating closing on my first property but when the day came it was just like any other. There were no fireworks… Just a sudden and compelling eagerness to move on to the next project as soon as possible! And that’s when I realized that the fun was in the journey. For me personally, the challenge of continuing to build my portfolio and find ways to help others create wealth by including real estate in their portfolios truly is my passion. Part of the reason that write about my experiences is to share my personal experiences with investing with others to encourage and motivate them to start creating wealth for themselves.
There are an abundance of opportunities out there if you open your eyes to the possibilities. We live in a world where the scarcity mentality is so prevalent that many people believe that there just isn’t enough wealth to go around. They often spend time making excuses for not having the wealth that others around them do and they eventually begin to resent the motivated action takers around them who actively take control of their lives, their wealth, and their destinies. Don’t limit yourself in terms of what you can accomplish. Set those big goals, believe in yourself, take action towards achieving them and you will soon see that those seemingly distant dreams are becoming a part of your reality.
We all have different goals and objectives we are trying to accomplish in our lives. Because of our different upbringings, cultures, ways of thinking the manner in which we go about creating wealth will be different for each of you even though the common bond between us all is an interest in real estate. Some of you may be like myself and find that you are passionate about the real estate investment industry. Others may only see real estate investment as a passive part of their portfolio. In any case, find what you are passionate about and it will drive you to create the wealth you need to start living your dreams today. All I want to do is show you how investing in real estate can help you get to where you want to be.
There are a few common reasons people turn to investing. For some, it’s to create a nest egg for retirement. Others want to leave a legacy behind for their children. I often meet with potential investors who want to acquire property which they can pass on to their children down the road. Additionally, real estate investing is attractive because some strategies can generate income and allow you to move towards financial independence. They types of properties or projects you invest in differ depending on which of these is most important to you. Take the time to review your current goals and make sure to select opportunities that bring you closer to achieving them. This sometimes means turning down phenomenal opportunities that show up at your doorstep. Stay focused and don’t get distracted by things that are not in line with what you are working towards.
Successful people take the time to educate themselves and diligently analyze potential opportunities. But when the time comes to take action they don’t hesitate. Once you get your momentum going make sure to keep at it every day. Action doesn’t necessarily mean going out and purchasing property after property each month. It can be as simple as taking another course, joining a networking group, meeting with your team members or fellow investors, or just analyzing potential properties. The point is that you have to keep moving forward towards your goal. It’s the culmination of all these little steps that brings you closer to your achieving your personal goals and dreams.
There are many “systems” out there that you can follow. For the most part they include many of the same steps. My path has been developed based on my personal experiences. Over the years I have taken numerous courses and workshops on real estate investing. At the end of the day what I have done is taken bits and pieces from all of them and done things in the way that best suits my needs. Once you develop your own personal system for locating, analyzing, and securing investment properties all you have to do is keep applying the same steps over and over again. As you continue to grow you will inevitably make mistakes. Think of each mistake as a learning experience and modify your system to account for these changes.
Keep in mind that the important question is “What do you want to accomplish by investing in real estate?” Let your personal goals and objectives guide you and keep you focused as you make decisions with regards to what types of properties to invest in and what type of investment strategies to use. We recommend having a longer term perspective as creating true wealth is an on-going process and not something you can do with a get rich quick scheme.
Leslie Quinsay was awarded the 2014 Investor of the Year Award presented at the Toronto Investor Forum. She is a successful entrepreneur, real estate investor, and author. She has grown her real estate portfolio over the last 15 years by following a path and strategy that best fit her long-term goals. Today her portfolio is comprised of both residential and commercial property. She continues to invest and educate other investors through Coridian Capital and it’s online educational site www.pushpast.ca.