Real Estate Investing the Napoleon Hill Style – 4 Principles for Successful Wealth Creation for New Investors
Was Napoleon Hill a real estate investor? I’m not sure, but I do know that we can put his “Think and Grow Rich” success principles to work for us as real estate investors.
Regardless of whether you are just beginning your investment journey or are a seasoned investor, these principles work. Let’s see what advice he offers and how we can apply them to achieve success.
1. “Have a definite purpose and back it up with a burning desire for its fulfillment.”
As a new or seasoned investor, we must determine our purpose…or what our “why” is. Are we investing simply because the infomercial on late-night TV made getting rich quick look easy? Or are we investing because we want to contribute to our retirement, build wealth over time, and provide our family with the lifestyle we want?
Our “why” or purpose must be backed by a strong desire that keeps us focused on the outcome we want to achieve as we continue to move toward real estate investing success, even when things are not easy. A true investor plans to create calculated returns over the long term rather than being a speculator who is only interested in immediate, riskier, or short-term returns.
2. “Have a defined plan and express it with continuous actions.”
All successful real estate investors will tell you that they have taken the time to create a detailed written plan. They know the power of writing down their short- and long-term goals and determining a time frame for their achievement. Successful investing is not something we do occasionally… but a commitment of time and effort necessary to achieve our goals every day. Napoleon Hill says that we should have a burning desire.
Each plan must be followed through by taking action. This means calling FSBOs, sending letters, putting up signs, going to auctions, working with real estate agents, viewing properties, talking to people…and making offers, offers, and more offers.
3. “Shut your mind tight against all negative and discouraging influences.”
For new investors, one of the first encounters with “discouraging and negative influences” is from family and friends. They simply do not understand why we are willing to take financial risk to make a short-term profit on a property and are sure that we will “have lost our minds” if we decide to buy and hold property and become homeowners.
But in today’s crazy real estate market, both new and seasoned investors are bombarded with negative influences 24 hours a day. Newspapers, TV and radio are feeding us pessimism about declining home values, rising foreclosures, low real estate sales, lack of available financing.
How do we overcome these influences? Join your local Real Estate Investors Association, get involved, participate in the training and education they offer, and network with other investors. Stay in touch with real estate professionals and lenders. Seek the advice and guidance of successful investors who are creating ways to win in a challenging market.
4. “Keep a friendly alliance with those who encourage you to go ahead with your plan to achieve your purpose.”
Napoleon Hill talks about creating an “alliance of master minds.” That is very good advice. Surround yourself with successful people who are like-minded, involved in similar interests, and consistently achieve their goals. These people are winners who will encourage, advise and challenge you as you follow your plan for real estate investing success.
Napoleon Hill and other great authors offer information, inspiration, and insight that drives and fuels our personal achievement. Its principles, when applied to all aspects of our lives, will help us achieve success and achieve our goals and desires.
