“No” – That Word that Reeks of Defeat and Negativity
How can the word “no” be a motivation for you to become a successful real estate investor or entrepreneur? “No” is such a negative word to hear when you are trying to make things happen, yet it can be a word that is quite motivating. If you are going to pursue real estate investing, you are going to hear the dreaded “no” word a lot.You need to prepare yourself for that reality. The answer you receive the most when you are trying to put together real estate deals is is not going to mostly be “Yes”. Quite the contrary! You are going to hear “no” a whole lot more than you hear “yes”. If you are not careful, hearing a “no” will be the death of your motivation and drive.
The First “NO”
The first “no” you are going to hear is when you ask the people you know if they think it is a good idea to get into the real estate investing. I remember when I was thinking to becoming a real estate investor, so I asked some people in my life if they thought it was a good idea. 99% of the people I asked told me “no”. Listen, if you are going to succeed as a real estate investor, an entrepreneur, or at any business, you need to take the word “no” as a personal challenge. When I was told, “No, it is a bad move”, I thought to myself “Really? Watch me!” and I got busy. From day one, you need to get into the mindset that a “no” CANNOT stop you. In fact, if can be a motivation that brings great success.
A String of “Nos”
Once you decide to get into the real estate investing, be prepared to hear the word “no” more than a few times and you need to plan your reaction. You will hear ‘no” on a lot of offers you make on properties. You will hear “no” when you seek financing for a property. You will hear “no” when you apply for an unsecured line of equity for a house you want to flip. You certainly will hear “no” a few times when you try and secure financing from a private partner or a family member. Experiencing “no” so many times is going to be some great training for you!
Become a Positive Interpreter
When you hear the word “no”, you have a decision about how to interpret it. If you are told, “No! You can’t do that”, you can take that in and believe it and say to yourself, “You’re right, I can’t”. In every conversation, there is a buyer and a seller. If you are “selling” me that I can’t do it and I “buy” it, then, of course, I can’t do it. On the other hand, for me, I would take you telling me I can’t do it, and turn that doubt into racing fuel. Hearing that “no” fuels me and challenges me to conquer the “no”. Hearing that “no” is actually a positive motivation for me and, as a business owner, you need to have that spirit as part of your makeup. You need to make a change within yourself if that is not one of your attributes. One way to do that is to look at the people that are telling you “No, it is not a good idea”. How successful are they? Is their life the kind of life you would be delighted to have? Do not take advice from someone who has not done it and done it successfully. If you talk to some of the real estate investing “greats” that are truly successful, they will rarely tell you that you can’t do it. It is always the failures in life that will tell you that you cannot do it.
One Simple Word is the Problem
I talk to two different types of people every day. There is one thing very different from the successful ones and the ones that will never make it in real estate investing. It is not cash flow, not being under-funded, not having enough time, not a lack of deals, or not the evil spouse that is against them that I continually hear about. It is simply the word “no” and how each person reacts to that word. Learn to positively react to the word “no” and turn it into fuel that will drive you to reach your goals. If you do, NOTHING can stop you from having success in real estate investing!