Like attracts like. Success attracts success.
How to attract success
At Capital Properties we work with Clients every day who thank us for helping them advance their chances at financial success. Many have come to us with little clue of where to start in property investment. Some people have never had the opportunity to ask questions about investment, finance, and budgets in a safe, judgement free environment before.
And we understand because we started in the same place. As a 19-year-old Navy Clearance Diver, our founder Marcus Westnedge was lucky that his mum pushed him to invest his Defence Force salary in his first investment property. Many years later Marcus has overseen the collective growth of an approximate $130-million property portfolio*.
*Clients purchase price minus present value 2020.
This success is not a fluke. It’s the result of tried and tested investment strategies and plenty of inspirational mentors along the way.
In this blog post, we’ll share why we believe that like attracts like, success attracts success and why a positive mindset and intentionally brushing shoulders with other successful investors can lead you to your success too.
The Capital Properties FREE Discovery Session is the first step to get you on your path to success. We’ll help you identify what success looks like for you and guide you to set goals to help you achieve that vision.
On the go? Here’s 30 seconds of take outs:
- A growth mindset = a winning mindset and is crucial for success.
- Skills learned in the ADF; discipline, resilience, and a strong work ethic are a solid foundation for developing a success-oriented mindset.
- You can use strategies to develop growth mindset – read more below.
- We’re influenced by the people closest to us – remember the saying “Show me your friends and I’ll show you your future”.
- Connecting with experienced and accomplished investors will help with constructive feedback for a greater chance at success.
- It’s important to develop property investment connections that will help you achieve your goals. We share tips on how to do this below.
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Why mindset matters
If you’ve been here for a while, you’ll know we’ve talked about mindset before. In fact, we mention it in each of the following posts (and probably a dozen more): “10 things when you’re starting out as a property investor”, “What the heck’s going on in the property market” and “Make uncertainty your ally”.
Just like any major life decisions, your mindset plays a crucial role in shaping your property investment journey and can make the difference between success and failure. According to Stanford Psychologist Carol Dweck and Author of “Mindset: The New Psychology of Success”, your mindset is necessary for you achieve your goals and it plays an important role in determining your achievement and success.
As an ADF member, you’re already accustomed to discipline, resilience, and a strong work ethic. These attributes are a solid foundation for developing a success-oriented mindset in the world of property investment.
Have you got the right mindset?
There are two basic mindsets: fixed and growth. People with a fixed mindset tend to believe their abilities are fixed traits and can’t be changed. Therefore, they’re less likely to make an effort.
However, people with a growth mindset believe that their talents and capabilities can be improved through effort and persistence. Even if you don’t naturally have a growth mindset, it is possible to develop one. In her book, Dweck suggests the following strategies for people to move from a fixed mindset to a growth mindset:
- Focus on the journey and not just the end goal.
- Use the word ‘yet’ to remind yourself that even you haven’t achieved the outcome yet, it is still achievable.
- Intentionally replace negative thoughts with positive ones.
- Embrace new challenges.
What does a winning property investment mindset look like?
In our blog post “How to ease the hurt of a property downturn and keep going” we discussed developing the following mindsets:
- Become a lifelong learner.
- Be prepared to work for your goals.
- Proactively manage your investments.
- Adopt a pro-active mindset and make it happen.
- Develop resilience by cultivating a positive and growth mindset.
- Be discerning when asking for advice – get the right people around you.
And believe us when we tell you that cultivating these mindsets is the difference between winning and failing. Trusting in your ability to learn and adapt to new concepts and strategies is part of a winning mindset. Understanding that setbacks are also part of the journey means that you’ll start to look at challenges as opportunities for growth rather than giving up at the first hurdle.
Like attracts like – learn from the best
It’s a proven fact that we are hugely influenced by the people closest to us. As motivational speaker Jim Rohn said, “You are the average of the 5 people you spend the most time with.” Another great Entrepreneur, Dan Pena, aka “The Trillion Dollar Man”, is known for saying “Show me your friends and I’ll show you your future”.
This idea is the same as ‘like attracts like’. We must recognise that the people we surround ourselves with have a significant impact on our lives, whether we like it or not!
That means it’s essential to look at who we choose to spend time with. One of the most effective ways to guarantee property investment success is by surrounding yourself with investment experts. By connecting with experienced and accomplished investors, you’ll have access to invaluable knowledge, insights, and strategies. And while it’s good to have people in your life who are supportive and want you to succeed, you also need people who can recognise where you’re going wrong and can provide you with constructive feedback.
How to find your property investment people
If success attracts success – and we know it does – here’s how to develop and nurture the property investment connections that’ll help you achieve your goals:
- Network: Attend property investment events, seminars, and conferences so you can meet and network with other investors. Build relationships, ask questions, and learn from their experiences. Start with the Capital Properties Discovery Session.
- Find a mentor: Seek out mentors who’ve personally achieved great success in property investment. A mentor can provide guidance, share their expertise, and help you navigate through the complexities of the market. Look for someone who understands your unique circumstances as an ADF member and can offer tailored advice.
- Stay informed: Sign up to property investment newsletters. Read relevant property investment news. Seek out platforms that facilitate discussions, offer educational resources, property investment case studies and provide a supportive environment for learning and doing.
- Talk to the experts: Work with specialists in their field. If you’re looking at property, engage a Buyer’s Agent. Stay informed about the market by speaking to Real Estate Agents, or get updated Property Market Reports from the team at Capital Properties.
- Build relationships: Don’t drop the ball as soon as you’ve made your first investment. Re-evaluate your goals (the Capital Properties Goal Setting Guide is an invaluable tool for this), and continue to build on your success. Our Pinnacle Support Program will keep you on track.
The Capital Properties team help you leverage the power of like attracts like & success attracts success. Our team has the experience and expertise to help you develop a winning mindset and achieve great success in the property market.
Book a FREE Discovery Session where you’ll have the support of like-minded individuals and learn how a strategic approach to property investment can help you create a secure and successful financial future.