How About New Year’s Revolution?

Many of my friends could not wait to fill me in on their New Year’s Resolutions. As I listened, I kept thinking to myself, “Aren’t these the same resolutions as last year that did not get completed?” I don’t say that out loud, but I think it, and I will bet, so do you. What people really need when it comes to investment strategies like fix and flip loans is a New Year’s Revolution rather than a resolution.

Many people are resolved to get rich from real estate investing. Yes, you can certainly build wealth flipping or owning homes. However, being a real estate investor is not a get-rich-quick scheme. It takes more than luck. It takes self-discipline, vision, and capital. But don’t take my word for it. Listen to what one of the greats does.

Five New Year Revolutions to Succeed in Fix and Flip Business

Warren Buffet, arguably one of the greatest investors of our lifetime, makes sure he does five basic things every day to maintain his success. He reads and exercises every day. That may not sound revolutionary, but most people find it quite difficult to maintain a daily schedule of reading and exercise. Even if they do read and exercise, it is not a planned regimen that is consistent and thought out. For example, a quick lunchtime walk and the latest Daniele Steel novel would not count in this case. Read books that feed and grow your mind. Do exercise that burns fat and grows muscle, not just exercise for exercise’s sake.

Another habit that Buffet practices is being grateful. Sometimes we get so caught up in the rat race, we forget to stop and be grateful for what we have. Failing to be grateful for what you have is a sure way to develop a mentality of “Lack” rather than Abundance. Again, this is not a revolutionary concept, but it could be revolutionary in your life if you choose to practice it on a regular basis. Especially when dealing with fix and flip loans, you must be prepared mentally for the process.

The fourth thing that Buffet does constantly is gaming. That’s right. One of the world’s biggest and busiest investors makes sure he takes time each day to play games. However, the games he plays are ones that cause him to think and strategize. Simply put, they allow him to flex his mind and stay sharp when it comes to critical thinking and strategizing. From chess to Monopoly, games help keep your mind in peak condition and your thinking clear. They also help you develop patience, a key necessity in the investment world. Two very important and possibly revolutionary things you need when investing in real estate.

Last, Buffet makes sure that he does something fun every day, like a hobby. As the saying goes, all work and no play makes Johnny a dull boy. It also makes Johnny a potential burnout from stress and anxiety. Learn to plan time to relax and have fun. You need to blow off steam so your mind doesn’t boil. The fix and flip loans process can be incredibly complicated. If not done right it can create a lot of stress. Find creative and positive ways to deal with that stress by having a fun hobby that can free your mind. Feeding your mind, body, and spirit through these five things may be the most revolutionary resolution you can make and carry out this year!

Real estate investing is a marathon not a sprint. Take your time to prepare for it both emotionally and physically. Do not fight your nature. Work within your own risk tolerance to avoid being burned out. Be open to learning. Seek out experts and listen to their advice. Treat your contractors fairly. Practice being detail-oriented. It’s important to accurately estimate your renovation expenses prior to diving into a project. Once you are in the midst of it, it’s equally important to track those expenses accurately.

New Funding Resources is a local private mortgage lender located in Gaithersburg, MD. We fund promising real estate opportunities, including fix and flip loans in Maryland, DC, and Virginia. If you have any immediate deal to discuss please call 240.436.2340 or fill out our online application.