Vena Jones Cox
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REPLAY OF THE SPECIAL TELESEMINAR WITH VENA JONES COX!
Vena Jones Cox aka “The Goddess of Real Estate”
The Leading Expert Shares Her Closely Guarded Marketing Moves
(Wait Until You Try Them in Your Marketing!)
“How to Find More Great Deals than You can Handle!”
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Why is it that some new investors seem to succeed right away, while others of us try and try to find deals with no results?
by Vena Jones-Cox
Some day, when I have endless amounts of time and money, I’m going to commission a professional study of the psychology of real estate investor wannabes.
Back before I started working intensively and one-on-one with students, I used to think that all the talk I heard about “fear of success” and “paralysis of analysis” was the speaker’s way of saying, “If what I tell you to do in my expensive course doesn’t work, it’s all your fault”. After all, if the information is detailed enough and the path laid out clearly enough, anyone from any background starting from any point can, technically, be successful in real estate investing.
But, as I have gotten more experienced in dealing with actual people and their actual problems, I have come to believe that it’s as much what’s inside of you as what’s outside that predicts whether and how fast you reach your real estate dreams. And although I don’t claim to be an expert of any sort on the psychology of success, I can tell you that I do see certain patterns in people who do and don’t take off quickly. This may not be the answer that you’re hoping for (because there’s no “quick fix” here), but here goes.
1. The successful folks have realistic expectations, and commit to do the things they actually need to do to reach their goals. It seems to me that there are some people who will pay endless amounts of money and spend endless time just to be excited by the idea that they can be financially successful. No matter how many times they’re told that, in addition to classroom education (and motivation), there are a laundry list of things that they actually have to DO in order to get from student to investor, they can’t or won’t actually take the real steps in the real world.
In some cases, these students are getting exactly what they want—the excitement of hanging out with positive people and getting stoked up by the idea that they CAN do something with their lives. In others, though, I think there’s a subconscious expectation that one more class/Bootcamp/meeting/whatever will CAUSE them to be successful, whether by miraculously manifesting a deal into their lives, or by making them finally “feel like” going out and doing something.
The students who “make it” are the ones have a realistic view of what needs to be done and a plan for doing it. Motivation is great—necessary, in fact—but it does nothing without a real appraisal of what YOU have to do each day, and the action of actually doing it.
2. The successful folks overcome or remove the barriers in their lives and their environments. When I’m working with a student who tells me that they are working on the assignments I give them, but only sporadically because of the frequent, crippling panic attacks/bouts of insomnia/excruciating back spasms they’re experiencing, I give them a brand-new assignment: take care of the problem TODAY. I’m amazed at how many people will put off getting treatment for a serious physical or mental problem, then wonder why they can’t seem to find the energy to make deals. When I suffered from anxiety disorder, most of my energy every single day was focused on thinking about, avoiding, or recovering from the overwhelming panic attacks that struck almost daily. You can imagine how effective I was in doing the day-to-day stuff necessary to keep my business running; it wasn’t until I got the problem treated and under control that I was able to recommit to my business.
And these aren’t the only types of things that make it nearly impossible to take on and accomplish a new goal: one of the more common issues that students have (and in many cases, don’t recognize the impact of) is lack of support at home. It is endlessly draining to have to fight a spouse or significant other every step of the way toward success. Even when you’re determined to “make it”, the eye-rolling, criticisms, and snipping comments like “sorry kids, I guess we can’t get to eat tonight, Mommy’s trying to be a real estate investor and apparently that’s more important than getting dinner on the table” can’t help but discourage you. That’s why I send an awful lot of my students to couple’s counseling and see a lot of “real estate divorces” (don’t let that scare you—these marriages had troubles that the real estate thing just brought to a head).
3. The successful ones make it a priority to do something, no matter how small, every single day to get closer to where they’re going. We all know the power of momentum—and being a “weekend investor” makes it tough to keep the momentum going and the real estate thing a real priority. On the other hand, doing SOMETHING—calling about 1 property, sending out 10 postcards, exploring that comping software you bought—every day both chips away at the bigger “to do” list and keeps your eyes on the prize of financial independence. Yes, it’s difficult to “find the time”, and yes, the little steps don’t result in big, quick, satisfying results, and yes, it seems more efficient to wait until you have a big chunk of time to do what you need to do, but over time, these little steps really add up. They give you confidence, experience, discipline, and, ultimately, your financial dreams.
Vena Jones-Cox, has been a full-time real estate investor for 19 years. She’s past president of Cincinnati REIA, Ohio Real Estate Investors Association, and National REIA. Join Vena at the Buildng Wealth Expo as she presents a Full-Day Intensive Training Session on Friday October 8th entitled “How to Find More Great Deals than You can Handle”. You must have a VIP or VIP+ ticket to attend Vena’s session! Signup Now!
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