Getting into the field of property investment, your mindset plays a very important role. You need to think like a successful person in order to gain success.
Psychology tells us that the way we think, feel, and act is as unique to each human being as their fingerprint. No two people are the same. How else would it be possible that in the same room one person feels comfortable, the other one is cold and for a third person it appears to be hot? Or that one likes the food and the next one finds it awful? People are largely driven by their sub-conscious and are typically not consciously aware of why they think the way they think or feel the way they feel, such as being angry or be happy. This is influenced by many factors such as our environment and surroundings, past events, education, our memories, values, attitudes, past decisions and beliefs. Everything we take in every second of our lives gets sub-consciously evaluated against them.
Everybody is unique and what you think is right, because it’s right for you according to your sub-conscious mind – but it might not be right for somebody else. It was just your own personal evaluation and projection – it’s all just in your (own) mind. But the good news is: Your sub-conscious mind is just an order taker; it just does what you tell it to do. So it is literally easy to change your mind. I cannot go into detail here. If you want to understand more about this important and exciting (according to me . . .) subject, please consult an expert, take a course, or read the appropriate literature. That way you can appropriately adjust your relationship with money and implement the many other tips to become a successful property investor.
Are You Emotional?
The answer of course is yes, because all human beings have emotions. Some are more in touch with them and show their emotions and others less (it’s all in your mind . . .). For our personal relationships, emotions are essential of course, but when it comes to money and investments, we need to totally take out all emotions when making decisions. Well, except joy maybe after yet another successful property deal.
The “Great Bear of Wall Street” Jesse Livermore said more than a century ago: “The Financial Markets will remain the same yesterday, today, and tomorrow simply because of the four basic human characteristics of fear, greed, hope, and ignorance”. This still holds true today and is the same in property investing. If we let our emotions get away with us when making decisions, often we will not make the right decisions. Don’t decide on a property when you are angry or upset.
The Property Apprentice Master, Jochen Siepmann, wants to share the wealth of his knowledge easily and effortlessly with you for FREE. Start your journey now to greater wealth through passive real estate income and capital appreciation with one, or all, of these FREE offers: