May 10, 2020 by Dymphna

Habits and Real Estate – The 6 Things That You Need to Know

Nearly half of all the things we do in our daily lives are habitual. That’s why you need to form healthy new habits if you want to become a professional real estate investor.

Habits govern a huge part of how we go through life. In fact, a Duke University study found that 45%, or almost half, of a person’s daily behaviour depends on habits.

But we also know that forming a habit isn’t that easy, especially when it’s not related to bodily needs. That’s because external life habits require dedication, focus, and, most of all, hard work.

Real estate investing is no exception. After all, it takes discipline and dedication to build a successful real estate career. And both discipline and dedication, if you don’t realize it yet, can be developed through our habits.

In this entry, we’ll discuss the hows and whys of forming healthy habits and becoming naturally successful because of it.

  1. Your Life Is a Sum of Your Habits

It may sound a bit intimidating but if you look at your life, you’ll realize that your life mostly consists of your habits.

Think about it. 

You probably don’t do a variety of different things during the day. In fact, an average person’s days are generally repetitive. And that’s fine – repetitive doesn’t always have to mean boring.

In any case, it’s the way it is. You wake up at regular hours and then get into a particular sequence of actions. These actions may include exercising, taking a shower, working, doing some chores, unwinding with video games, and so on.

So, what’s left of your day? An occasional excursion that is out of the ordinary, probably. But still, your day is mostly about habits.

Knowing this, and accepting that nearly half (if not more) of your daily life comes down to habits, is the pillar of progress. And learning how to take control of these habits is how you grow.

  1. Forming a Habit

Growing means changing – that much is pretty obvious. And that means replacing old habits with better ones..

Now, some online sources may assert that it takes 21 days to form a habit. But that’s not what the Duke University research claims. According to the paper, an average of 66 days is necessary for something to turn into a habit.

That’s a lot of hard work! But the good news is, everyone can do it. It all comes down to one thing: perseverance. 

If you want to change, you have to be willing to put in some hard work.

This, of course, translates to your real estate activities, as well. And real estate is an excellent example, which brings us to the next point… 

  1. You Have to Make a Habit of Spending Time

You don’t get into real estate by dropping everything and quitting your day job. 

On the contrary, real estate is a prime example of something you need to do in an extracurricular fashion in the beginning. And this means forming habits that will get you there. Your success now depends on developing good habits throughout your real estate career.

To learn how real estate works to become a competent professional real estate investor, you need to make a habit of spending time on it. These things include talking to architects and real estate agents, following up on things, and so on.

What’s most important, though, is that you have to like this stuff. You may not like every aspect of it, but there has to be something that pushes you towards real estate. It needs to grow into what you do. It needs to become a natural habit for you.

  1. Real Estate as a Natural Habit

The good news is that real estate processes are similar across the board. Analyse, learn, and invest at the right times.

You may not fall in love with the analytical parts of real estate investing, but you probably will. Real estate is addictive work. And when that starts to happen, you’ll find you can hardly drive past an empty block without wondering what you should build on it. 

It becomes a happy ritual. 

  1. Inherent Habits

We inherit habits throughout our lives – usually from our surroundings, peer groups, parents and relatives. Our previous work experience, hobbies, and extracurricular passions are all part of our habitual life. We observe, and react in similar ways to the same stimuli – after all, if it worked once, do it again. 

You can learn from some of these habits since they readily carry over to the world of real estate. For instance, someone may be working out, however tedious, to attain strength and general appeal. That’s akin to doing the hard yards in real estate to develop a successful investment career. We can learn to love the workout, just as we can learn to love the analysis of real estate.

However, there are also inherent habits that can present a huge problem. Not because they’re there, but because changing habits is more difficult than acquiring new ones.

Fortunately, you can try something else. Instead of trying to change bad habits, try to squeeze them out of your daily schedule. Do this by forming new habits. For instance, instead of indulging in your habit of watching TV after dinner, sit down and work on real estate, whether it’s for your knowledge or researching what to buy. You’re effectively squeezing out the TV habit.

But how do you keep track of your habits? You need to have a way to summarize it if it’s going to work.

  1. 15 Minutes a Day for You

Yes, having a clear picture of your habits is essential. That’s why you need to be able to set aside at least 15 minutes a day to do nothing but thinking about yourself. This is your introspection time and you’re about to learn why it’s so important.

During those 15 minutes, turn off everything. Sit or lie down, close your eyes, and think about yourself. Are you going in the right direction in life? Are you doing your best? Are you satisfied with your job? The questions go on and on, but it’s okay to let your mind run amok. Take a look at where you’re currently at and where you want to be. The habits are how you’re going to get there.

Become Naturally Successful

Forming healthy habits is the first step towards becoming a naturally successful person. Whether we’re talking about real estate or any other measure of success, habits are immensely important.

Where are you at the moment? Now take a look at where you want to be. Between these two timeline points are habits. In a way, healthy habits are a vessel that will take you from point A to point B in life.