WHAT DOES IT TAKE FOR SUCCESS?
As I write this, the potential payout for the lottery is close to two billion dollars ($2,000,000,000).
Maybe what it takes for success is good luck. A lot of people must think so. But do the math and you will see the odds are against them.
What then does it take for success?
I suggest two simple things.
Simple, yet for many people too hard. Many people are looking for an easy way, a no-effort way, a “fast food” way to success.
How about you?
These two simple things bring success in romance, in personal health, in real estate, and in every other area of life. Here they are…
The first is FOCUS.
In the real estate world, we often talk about “shiny objects”. Many real estate investors (and investors in other asset classes too) try one thing for a while, then another, then another. They are distracted by the next shiny object.
Here is how it might go … Perhaps I would do best if I bought single-family houses. No, I heard that multifamily is the way to make money. But, what about self-storage facilities. They can be much more simple to run. Or maybe I should study triple net leases. Look at how well he did with buying notes.
Always something new.
But success comes not from being distracted. Success comes from focus, from concentration.
Like a lens that takes light and focuses it down to a single point. The scattered light doesn’t do much. The single point of concentrated light starts a fire.
Bruce Lee once said, “The successful warrior is the average person with laser-like focus.”
Success comes from focus.
Our focus at Attune Investments over the past year has been down into the niche of RV Communities. We have narrowed down from real estate in general, to multifamily properties, to this smaller sub-set of RV Communities.
We believe our training and experience will prove quite effective with this narrower focus.
If I look back on my dating life, years and years ago, I realize that when I focused on one person, rather than playing the field, I found success for my romantic life.
Focus is very important, even critical. Focus creates power.
I have a good friend who chose to focus on self-storage four years ago. That is all he studies. He puts all his energy and time into self-storage. He has done well. You might even say he is successful, very successful, because of focus.
This is the first of the two simple things. Let’s look at the second.
The second is HARD WORK.
You might call this massive action.
Getting through college and graduate school required focus and hard work. Both. I remember all the things about college life that tried to distract me. I also remember all the long hours of study and writing papers and preparing for final exams.
Staying married for decades has required both as well. Relationships can be difficult. Marriage takes hard work, consistently. There is great joy and fulfillment but work nonetheless.
A newcomer in the real estate investment world had seen some of the television shows about fixing and flipping and dreamed of being able to quit their 9 to 5 job and start generating a lot of passive income. They met someone who had been investing for some time and asked what it took to be successful in real estate. This other person said “Hard work This is not an easy business.” He is right.
To raise a family well takes hard work.
To maintain fitness and health is not easy.
We might wish all it took was luck.
At Attune Investments, we put in a lot of time and effort to find our first apartment complex, one that we could buy right – at the right price in the right location. Then it required a lot of work to secure enough private investors and the right commercial lender to put the financial package together. Then the real hard work began of owing and operating the property, especially during Covid.
But, with both our focus and the hard work, the venture has proven quite successful.
If you are looking for success in your investments through the years, be willing to be focused and to put in the hard work. If you are going to invest passively in an investment, be sure the folks you are investing with are focused and hard workers.
You can hope you will have good luck, but I think it takes these two simple things to make for real success.
What do you think?
HELP US GET TO KNOW YOU BETTER
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Harland leads our Investor Relations. He is a “repurposed” Pastor and Army Chaplain. He is an author, speaker, mastermind facilitator, and coach. Harland lives with his wife, Barbara, in DeLand, Florida.