As we pave our way through an unprecedented pandemic and recession, as real estate investors, it’s more important than ever to build resiliency and to keep a positive mindset with clear objectives. Our team at Diversified Investment Strategies is here to help answer any questions you may have about your real estate investments right now, and your 1031 exchange opportunities, and to help guide you through deadlines and decisions during this difficult time.
Building resiliency is imperative to making sound decisions during uncertain times as a real estate investor. Now is the ideal time to look at your habit patterns and make some changes. Here are some tips from Success Magazine on building resiliency:
1. Build a resilient mindset. This takes practice. We have conscious and unconscious beliefs, and they all impact how we respond in times of uncertainty. First, you need to determine how you handle uncertain times, and then you can practice handling them better. As humans, we tend to focus on the negative. The news if full of it. We’re in a recession, commercial real estate values may go down, tenants may not be able to pay rent. Get out of the negativity by thinking about all the things you’ve already been through and survived in your lifetime, and how negative events in the past made you stronger and smarter. Negativity causes fear, but when you realize that adversity has not defeated you in the past, you are more likely to take action and make sound decisions now.
2. Get clear on priorities. Resilient people align their actions with their intentions. Are you living the life you intended on? Decide right now what your main priorities are, with family, career, real estate investments, etc. Get intentional on how you invest your time. If you want to spend more time reconnecting with family or friends, or to improve your health, or to establish new business goals, write these priorities down and determine what steps you could take to achieve them. If you are ready to give up hands-on investment duties to have more time with family, give our team at DIS a call to learn about your hands-off 1031 exchange options.
3. Practice gratitude. Whether you’re reading business success articles or personal self-help books, they all point toward the same practice: Gratitude. Practicing gratitude can help you escape the monotony of negativity and fear that is plaguing us all right now. Choose a time of day and write down things you are grateful for in the moment and why. Do it routinely so it becomes a habit for your mind. Every challenge presents an opportunity, and changing our mindsets from negative to positive will help us find the opportunity and act on it.
For more resiliency practices, check out this Success Magazine article. It’s important to keep a sound mind during uncertain times, especially as a real estate investor! Our team at DIS is here to help you with all of your real estate investment and 1031 exchange needs during the second half of 2020. Let’s make the second half better than the first! Give us a call for assistance!