Friday, March 12, 2010

Verna Jones-Cox - Habits of Successful Investors

Our fellow Nuwire Investor contributor Verna Jones-Cox has boiled down success in real estate to 9 Habits that are really spot on.

The other thing about them is that anybody can acquire these habits and become successful there is nothing magical or mystical about it. I strongly recommend reading the whole article as I'm sure they are habits that will bring success in all areas of life.

Successful Investors:
1. Have a plan and work it - like a road map to your final goal

2.Have a network and use it - a good team is very important and often found through meeting other investors

3. Cull their herd- consider it "mercy killing" the mercy is on your wallet leave emotion out of it and get rid of bad properties ( and they are there)

4. Protect their assets - it's basic and you will go through a lot of professionals before you find one who understands your needs.

5. Have a code of ethics - what goes around comes around and it does come around

6. Involve their family - not your uncle Bob who says "real estate is dangerous.." your significant other has to be signed on and tuned in. They are the backbone of your ability to succeed

7. Treat everyone better than they expect to be treated - see #5

8. Stay educated - easier now than before the internet and there are many associations that will be more than happy to tell you what you need to know

9. Become mentors - it almost happens naturally people will start asking you how to do what you did - just tell them! There is no limited wealth or success and everyone deserves to do well.

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real estate investing said...

Real Estate investing is not a tough job. You must have a proper knowledge before investing. Before investing you must calculate what will be the return on investment.

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Penny Stock Trading Strategies said...

These are some really good tips. I started in real estate about five years ago and have been doing okay since. These tips will really help me with my next ventures. Keep up the great work with this blog.

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The Versatile Investor said...

A fantastic list. Probably the most important one on there is to treat others better than they expect to be treated, although it will probably be the most ignored, unfortunately.

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Patrick said...

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