What’s it Feel Like to Win?
Two weeks ago I had the idea for this week’s newsletter: Winning. It struck me right as the Philadelphia Eagles won the NFC Championship. Lest I jinx our team (I grew up right outside of Philly), I held off on writing this until now-a week after the win. This year’s Philadelphia Eagles know what it feels like to Win. In a blowout, I might add.
For me, winning feels like I’m living life now in a bonus season. I struggled with addiction through my early adulthood-only quitting at age 32, on Jan 21, 2012. I recently crossed 13 years sober. That’s a WIN!!
“Pop Champagne” Could be Deadly.
There is danger in winning. You go one of two directions after a win. You pop champagne and celebrate-which is often what we do the first time we experience a big win. OR, you humbly get right back to the grind. You engage in those same habits you formed which created the win. In sports, that looks like 5:00 am gym sessions followed immediately by practice. Think Kobe Bryant. Doing the latter-getting back to the grind- is how you set yourself up for that next win. Mamba Mentality
In 2007 I was just under 3 years sober and had been in real estate 2 years. Late that year I had 4 large closings (they were large closings to me at the time-a ton of inflation has occurred since then) and saw 6 figures in my bank account for the first time in my life. I mentally popped champagne, that money went to my head, and a short while later I relapsed into addition. It was 5 full years of misery before I found God and regained my sobriety, sanity, & sustained success in the real estate industry. Grateful to be alive. Bonus Season!!
Within the last few years, our company closed our single largest deal, in terms of profit. I’ve intentionally worked to keep an even keel now-whether a win or a loss-handle either smooth and calmly. When we closed that deal I was glad & grateful, but that excitement of the big win I felt back in 2007-that “pop champagne” feeling was non-existent. That’s a healthy place to be. Neither myself or my partners skipped a beat after that closing. We immediately maintained the habits that created the opportunity. Mamba Mentality.
What is the Most Valuable Habit that Creates the WIN in Real Estate Investing?
Simple. Make offers. That habit-making offers-took me YEARS to develop at a sustainable level. It is very simple, but very easy to get stuck procrastinating and analyzing and checking the comps again and talking to contractors and interviewing tenants and on and on and on.
Get to MAKING YOUR OFFER as quickly and often as you can!! Closing Many Deals requires making at least 10 times as many offers. I mean, we want to close GOOD DEALS, right?? Making offers is how you win those good deals.
When you consistently make offers you experience that rewarding feeling of WINNING-first when your offer gets accepted and then once again later when you exit or refinance that deal and collect that check! Ah, but beware of “Pop Champagne” mentality and get right back to making more offers to setup that next WIN!! Mamba Mentality