The Wrong Mindset in Real Estate Investment
Another way to describe the wrong mindset in real estate is known as a customer mindset. RE investors don’t regard themselves as RE customers, the question is; how do you know you have the wrong or customer mindset?
A person with a customer mindset is focused on the “cost of something, not the benefits”
They focus on “can I afford and not the benefits”
They focus on “if I spend money I will end up with less and not the benefits”
The result of the above believes system is “only the rich can afford real estate investment”. That is the reason people with customer mindset cannot invest in real estate.
Here is what happens with the person with the customer mindset;
They immediately count themselves out of any real estate deal
They are intimidated by the cost of real estate investment
Because of the above mindset they become mentally blocked, guess what happens when they are mentally blocked; they are not thinking if they can buy the property with creative financing, neither are they thinking about negotiating with the seller for seller financing, and they are not thinking about raising capital for their first deal.
These mental block has caused them to negate all real estate investment opportunities that ever come their way. They believe they cannot do any deal because of the above reasons.
Let me give you some tips about real estate investment that you never knew.
FOR PEOPLE WITH THE RIGHT MINDSET
There is no such thing as LOW OR HIGH PRICE neither is there anything as CHEAP OR EXPENSIVE in real estate investment, they don’t care about it or even consider those things. What is important though for people with the right mindset is; does the property have a LOW RETURN ON INVESTMENT or HIGH RETURN ON INVESTMENT.
The question to you is: DO YOU HAVE THE RIGHT MINDSET to become a real estate investor?