Do you ever look at a successful real estate investor and wonder what’s in their head? Wonder how they think and what makes them tick? We all want success, after all. Chasing it is often a long and difficult road, and we can usually turn to those who have gone before us for guidance.

However, it’s usually a little more difficult to get in their heads! What is the mindset of a successful real estate investor?

You could spend your time looking at quotes, buying books, and piecing it together yourself, but here are a few principles that we know are in the recipe for success across the board. If you start shaping your thoughts and actions in following these mindsets, you’re going to be on the right foot. Will it guarantee your success?

No. Nothing does. But it will help you start making moves towards the right path.

With over 35 years under his belt as an entrepreneur, Kent Clothier, Sr., CEO of Memphis Invest, knows a thing or two about what it takes to be successful.  From building a high-quality team and keeping that team focused on customer service to inspecting what you expect from every vendor and service provider doing business with our company and clients, Kent Sr. has helped set the tone for the success of Memphis Invest.

Real estate investing is not an investment that investors should just jump into with both feet.  When it comes to Turnkey real estate especially, the team you choose and the level of their experience is critically important.  If there is one thing that sets apart the ownership and leadership at Memphis Invest from other Turnkey real estate providers, it is the commitment to building and developing a phenomenal team.  That dedication to development start at the top.

Recently, Kent Clothier, Jr. hosted Kent Sr. on his weekly podcast, The Time Is Now, to discuss his history as an entrepreneur and the unique way in which we built Memphis Invest and Premier Property Management.  This podcast may be short, but it is PACKED with great advice and practical insight into how each company operates today.   

Get ready, because this is a fantastic listen!

ROI. Return-on-investment.

For real estate investors, a partner can be a valuable asset. Even if you’re not in need of a financial boost—often a reason investors seek out an investment partner—as the old adage says, two heads are better than one! A partner can help you pool resources. Not just financial, but in terms of strategies, connections, leads, and opportunities that you might not have awareness or access to by yourself.

So you’re thinking about remodeling your investment property. You want to increase your property value, up that rental price, and, down the line, maybe resell your property for a lot more than the purchase price. Pouring into your investment property can be a great idea, but it can be a monumental task—you need to make sure your property renovations are well worth the effort!

Here’s the question: we know that the best ROI comes from renovating the kitchen and bathroom. Everything else is secondary. But do you know what renovations within those broader categories really make a strong impact?

If you ask someone “what makes a real estate investor successful?” you’ll likely get a lot of different answers.

The truth is, a lot of different traits make the recipe for success. Honesty is important. Integrity—that’s a good one. Tenacity, nice. There’s old-fashioned intelligence. A natural knack with money.

But what common thread weaves through every successful real estate investor?

Surely there’s one thing that brings it all home. One thing that ties it all together...

Tenant retention: it can be a big bug bear for some investors.

Have you found yourself with high turnover and not knowing the cause? Maybe you keep doing everything right, but you just can’t seem to get good tenants to stick around for longer than a year or two.

Granted, sometimes there’s just nothing you can do. The sway of life pulls people away to new opportunities and it just doesn’t have to do with your property.

But, on the flip side, there is a lot you can do.

Do you look around and get frustrated when it seems like everyone else is doing so much better financially than you are? Does it seems like you’re struggling to scrimp and save and make it to next month while your friends and fellow investors are killing the game every time?

Maybe you feel like you’re falling behind. Despite your best efforts, you just don’t feel good enough. Maybe you feel like you finances never catch up with your goals. The expenses keep adding up and the profits never have the traction to give you a solid footing.

It’s frustrating. It’s disheartening.

But you have to ask yourself: are your money habits secretly killing your chances at financial freedom?

Congratulations!

You bought your first rental property. That’s the first big step towards building towards financial freedom. Hopefully, it was not just one property that you purchased, but a portfolio of multiple properties to help get you started in the right direction early.  Especially if you a passive investor.  More on that later.

You may be thrilled.  You may be excited.  You may even be a little apprehensive. There’s still a lot of work to be done. Buying a property is only the beginning of investing in real estate.

Even as a passive real estate investor, you have quite the road ahead of you! No matter if you’re investing locally or in a distant market, here are the next steps you for the best foot forward:

You’ve read all the books. Joined the forums. You’ve learned, you've leaned in, you've done your homework, devoured anything and everything real estate investment in your path. There’s just one little catch: you haven’t actually invested in any real estate yet.