What is the most costly mistake you can make in real estate investing?  Is it getting into a project doomed by hidden problems, or following the wrong market strategy?

‘No’ to both of those – because neither situation will cost you as much in the long run as neglecting the real key to successful real estate investing.  The most important factor in your success is YOU, including the training and preparation you give yourself to solve problems and identify sound strategies for profits.

Successful investors never stop learning and building what they themselves bring to the table.  Where can you look for quality guidance and information? 

• The most solid and specific source of training is through a great real estate investing program.  Take a look at my blog post last month, “The Top 5 Questions to Ask About a Real Estate Investing Program,” [LINK] for more information on selecting a truly dedicated, qualified program to expand your knowledge and opportunities.

• Attend seminars and take courses on specific aspects of real estate investing. You don’t need a degree, just an occasional class or seminar to keep you current, and give you in-depth exposure to particular topics that affect your real estate investing the most. Your local Real Estate Investor Association (REIA) is a great place to start!

• Successful investing takes more than knowledge and resources – it takes a mindset, a perspective on your purpose that keeps you above the fray and provides a clear vision of your future.  Often the teachings and concepts of people who have unique insights can change the way we see ourselves.  I highly recommend a series of fascinating books that I describe in my blog post “Best Books for Learning How to Invest in Yourself.”

• Network with the people who can add the most to your investing success and to your life.  Learn from their experience and choose the role models most likely to guide you to your goals.  Reciprocate by adding value to their projects and their lives in return.  Follow through on your commitments and you will find that investment will pay itself off tenfold.

• Investing in yourself means doing your part for your family as well – that’s an investment in your ultimate success in life.  Know how pressing and urgent are the needs of your business interests but, remember the people who are the real reason why you do it (ie. family J)!

Take the time and make the time to broaden your horizons through self-education.  Make choices you won’t regret in hindsight to be there for the people who are most important in your life.  Invest in yourself and be the person you would most like to be!

What do you consider the most important self-investment you make every year?

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