The following is a guest post from Vinney (Smile) Chopra, a seasoned multifamily investor, syndicator and educator:
In multifamily investing, it helps to stay active, enthusiastic and happy all the time!
Well, it’s because positivity attracts success. If we train our minds to feel enthusiastic all the time, we are able to focus on the things that truly matter. On the other hand, when we let bad thoughts take control, it becomes difficult to make important changes that can impact the way we work and the way we deal with other people.
Indeed, the world of real estate investing has a lot of twists and turns. There will be challenges that can break our drive for success, but it’s always important to realize that overcoming these challenges starts in your mind.
When I started investing in single-family homes, fear was always an ever-present entity. Back then, I was a fresh graduate who was eager to chart his course in life.
I came to the United States with just $7. I spoke very little English with thick accent, and I didn’t even have the right connections. You could imagine how difficult it was for a young Indian man to find success. Still, America has always been the Land of Opportunity where, if you work hard enough and dream big, you can make it through!
Having realized this, I became less worried and found more reasons to be happy. It worked out for the best! Being enthusiastic enabled me to build valuable relationships with people. I got to meet fellow investors, CPAs, securities lawyers, and motivational speakers. It’s the relationships I’ve built that convinced me I was on the right track.
An enthusiastic attitude is an ingredient you need for success. To be always in the mood for happiness, you can use these important steps:
1. Repeat your goals for the day
When you have daily goals to complete, you should be looking forward to completing them. Write out Affirmations in present tense having accomplished your goals! Nothing gives us joy quite like the sense of fulfillment we get after achieving the goals for the day. It’s important to keep motivating ourselves into completing the tasks we have to achieve. So, spend time in front of the memory and try to enumerate the goals you have to complete by the end of the day.
2. Keep smiling
People would ask me, “Vinney, why do you smile a lot? It’s like you have never experienced stress before.” Well, I have been called Mr. Smiles for a big part of my career, and this is because of the fact that smiling is good for your health! When you smile, it gives people the impression that you are enthusiastic about what you are doing. So, flash your best smile when you are talking to potential business partners. Show them how positive you are, and they will show you their full commitment!
3. Be sincere and honest
People like it when you deal with them with utmost sincerity. If you are out to look for investors for your multifamily syndication, you need to approach them with honest intentions. Tell them that you are also an investor who specializes in multifamily properties. You can also tell them that you are looking to increase your cash flow by getting a new asset to your portfolio.
4. Be cordial and professional
Take it from me. You can be enthusiastic and professional at the same time. For this, it’s important to always have a positive mindset. When meeting a potential business partner for the first time, whether it’s at a coffee shop or your favorite restaurant, make sure to act kindly and focus on building a valuable relationship from the interaction.
5. Listen actively and with interest
People will know that you are enthusiastic if they see you listening intently to what they say. Creating partnerships involves engaging in dialogue where you respond to a statement and give a sensible answer in turn. When it comes to building a multifamily syndication, it’s important not to make potential investors feel that they are wasting their time having a conversation with you.
Trying to recall what the other person just said and “spacing out” mean that you are not interested at all, which is all the more reason for an investor to reject your offer. You need to show that you are enthusiastic by giving relevant responses to questions. You can also write down bits of information on a piece of paper. At least, through writing, an investor will think that you are being serious with your proposition.
Showing an enthusiastic attitude is your best bet in making it big in the multifamily game. So, keep these tips in mind, and maybe you can become the next Mr. or Ms. Smiles!