By John Alexandrov

The real estate business is an amazing business. The allure of financial freedom, a flexible work schedule and a skyrocketing personal net worth are seductive icons. We've all seen the infomercials and attended the seminars that are proof certain millions of dollars are just around the corner. But why do so few of us ever attain the goal of financial independence?

We may say to ourselves, "I have read all the books, I attended all the seminars, but this just doesn't seem to be working for me." And therein lies the basic problem.

Most people who participate in the real estate business are honest and hard working. Most people who participate in the real estate business understand the mechanics of the industry (e.g. how to purchase property, how to obtain financing, how to make bona fide offers that are a win-win for both parties, etc.).

What most people don't understand however, is that making money in real estate is not only the result of hard work and technical proficiency.

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Every wildly successful real estate investor will tell you that the number one principle required to succeed in the real estate business is "attitude." You see, no matter how hard you work or how many offers you make, if your money paradigms aren't "healthy," you simply won't make money. I have personally coached and invested with dozens of very successful real estate investors, developers and sales people... and they all have the same common characteristics. You can put the same attitudes and paradigms to work for yourself.

First and foremost, every successful real estate investor believes 100% that they can and do create their own reality. Their success in the real estate industry doesn't depend on interest rates, the economy or any other external economic factor; their success is created by what and how they think!

Specifically, here is how the greatest real estate investors create their fortunes:

1. They decide to be successful. They don't hope to be successful. Success is a choice, not something that happens by chance.

2. They set standards. The most skilled real estate professionals don't get involved in every deal that comes their way. They have a game plan - a modus operandi that is so solid they don't get emotionally caught up in the deal. Either the deal fits into the plan or it doesn't. There's no gray area.

3. They believe "money is good." This might sound silly, but over 90% of the people in the real estate industry have negative money paradigms. Outwardly they profess their desire to be wealthy, but internally they're afraid of having it happen to them. One bad decision after another is made because their internal beliefs about money are destructive.

4. They don't chase deals. The most successful investors "attract deals." You see, just by the nature of their beliefs and attitudes, successful people (in any industry) become "deal magnets." Simply put, our beliefs and attitudes either pre-pave the road to success, or destroy it.

5. They are accountable to someone or something. In his landmark tape series, Your Right To Be Rich, Napoleon Hill states, "When you are in the presence of someone who is willing to be held accountable, you are in the presence of nobility." Are you accountable to anyone besides yourself? If not, join a mastermind group, a coaching service or find a business associate that you can be totally honest with. Hold each other accountable to the accomplishment of your goals and your results will multiply.

6. They set aside their egos for the sake of success. In other words, they commit to continuously improving. They are on a life-long quest of learning. When they learn a new lesson, they put it into action with the proper attitude and with the proper intentions.

7. They make decisions from a position of strength, not weakness. The great investors are prepared mentally, emotionally, physically and financially. They never make decisions based on fear, envy, greed or "need." If you "need" to do a deal, you may as well chalk that one up in the loss column.

Whether you are a seasoned professional or a newcomer to the real estate industry, you must understand that your mental make-up is the primary deciding factor in your success. Your actions are simply a reflection of what you think. Choose positive beliefs about money and real estate. Make every decision from a position of strength. When you do, true financial freedom will be yours.

John Alexandrov is the CEO of Legacy Capital Solutions, LLC. He is a successful private banker and executive coach. John has written three books on wealth paradigms and how to apply these paradigms for success in the real world. John's most recent book, The Money Chi, can be downloaded at his website www.themoneychi.com. Contact John at johna@legacycapitalsolutions.com.

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January 2006

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