1. TAKE TOTAL RESPONSIBILITY
Profitable real estate investors in Sioux Falls, SD, take total responsibility for their investments. Unprofitable investors blame everything and everyone else: The property manager,
Wall Street, the government, etc. Build a relentless attitude and nothing can stop you. It’s your money, your risk, your work… And Your Success!
2. KNOW YOUR NUMBERS. If your accounting is off or not up-to-date, you will make decisions based on emotions and not on numbers which will eventually hurt you in the long run. Data and numbers help you learn, adapt and plan for long term success in real estate investments in Sioux Falls, SD.
3. READ SOMETHING NEW EVERY DAY. Successful people read constantly, find mentors to learn from, and value new information that can help propel them forward. Regardless the industry, you must learn before you earn. Learn your product, customers and competition. And then keep learning.
4. REGULAR ASSESSMENTS. Regular assessments of your Sioux Falls, SD, rental properties are essential to maintaining and protecting your investment. Visit your rental unit once per quarter, but you must do this in a way that doesn’t unsettle your tenant while also creating some accountability. Do not limit assessments to the property. You must assess your accountant, tax advisor, property manager, forms, systems, and more. Professionals spend time assessing their entire investment system, not just the buildings in the portfolio.
5. NEVER GIVE UP. Habitual personal growth is what separates the rock stars from the backup singers. On a personal note, I have noticed that I am the number one hurdle that separates me from the growth of my company. Do I have the vision for my company to be a multi-million
dollar entity? Absolutely, but I may not yet have the skill-set to manage that kind of capital. My ability to grow, learn and adapt will be the difference between million-dollar growth or staying where I am today. None of us lack the opportunity for greatness, we only lack the personal preparation necessary to seize the day and make it happen.