Persistence pays off
Property has its ups and downs, for sure, but persistence is the key to success, writes Nichole Lewis.
28 June 2023
If you ask my kids the two key phrases I have taught them about persistence they would say, “never say never” and “follow everything through until the very end”.
Over the years in property I’ve learned to follow every single deal right through to the very end. While I’m chasing each deal I’m always looking to solve whatever problem is preventing the deal from going ahead. Until the property is sold to someone else or withdrawn from the market I keep working it.
Property has its ups and downs, for sure. Persistence is the difference between letting the downs crush your energy and bring your cash flow to a grinding halt or ramping up your determination and looking for another way to make your money work.
Earlier this year I had the privilege of speaking at several property investor associations and I met outstanding people. During that time I had multiple deals on the go and plenty of issues to solve.
Friend or foe
Taking stock this month of my results to date I’ve realised that every single issue has been overcome and there has been win, win, win every time. When you look at the touch points in a deal: agents, brokers, solicitors, vendors, property managers, building inspectors, tradies or accountants, everyone has the potential to be friend or foe.
I had a deal fall through due to a solicitor not wanting to withhold money in a trust account while some cosmetic renovations were finished, and called the bank and got the approved loan declined!
True to form, I did not give up and persistence paid off, overcoming these hurdles and getting the deal through in the end. With persistence and determination you can do anything.
During the global financial crisis I lost everything, as I shared in my talks at the property associations and in my book. What got me back to multi-millionaire from zero is persistence.
With persistence, I’ve got finance after being told “no” multiple times; bought property with no money when people said it was impossible; got purchase prices that agents said they wouldn’t present; put conditions in that solicitors don’t like; completed renovations making six figures multiple times, and I’ve done million dollar deals.
Reach for the sky
Recently I’ve read about Elon Musk, whom I admire greatly. The one thing that stood out above all else was his persistence against the odds. People said rockets could not be built for that price and Space X did it. People said electric cars would never take off and Tesla (I love my model 3) became the number one car manufacturer with far fewer resources than its competitors.
I love getting results for investors. Just today I told one of my clients to follow through to the end, so he got off the phone motivated and inspired to close the deal.
What are you going to do to stay persistent? Drop me an email or give me a call and let me know what you need from me to help you be persistent and achieve the results you need.
Nichole Lewis is CEO at The Property Lifestyle, an international best-selling author, property mentor, public speaker and passive income expert. Creator of Property Quadrants™ formula, she helps people replace their salaries with passive income. Contact Nichole to talk property and see how she can help you [email protected], 021 582 107, www.thepropertylifestyle.com, www.nicholelewis.com