9 things you will need if you want to make it in the real estate business

When starting any enterprise or business, whether it is full-time or part-time, we all know the value of having plenty of capital (money). But I bet we both know or at least have heard of people who started with no capital who went on to make fortunes.  How? You may ask.

Well, I believe there are actually some things that are more valuable than capital that can lead to your entrepreneurial success. Let me give you the list.


Time is more valuable than capital. The time you set aside not to be wasted, not to be given away is time you set aside to invest in an enterprise that brings value to the marketplace with the hope of making a profit. Now we have capital time. How valuable is time? Time properly invested is worth a fortune. Time wasted can be devastation. Time invested can perform miracles, so you invest your time.

2. Desperation.

My friend Wesley Smith went to Perth as a teenager after he got out of high school. We played a lot of tennis together and he always displayed a thirst to win. The first job he got was as a night packer at a local Safeway Supermarket. Someone said, “Wes, why would you settle for night packing?” He said, “Malnutrition.” You work at whatever you can possibly get when you get hungry. You go to work somewhere — night packing, it doesn’t matter where it is.

Years later, now Wes is a successful property developer after building a real estate business from scratch and has one of the great examples of lifestyle that I know. But, his first job — night packer. Desperation can be a powerful incentive. When you say – I must.

3. Determination.

Determination says I will. First you say to yourself, “I must find a customer.” Desperation. Second, you say to yourself, “I will find someone before this first day is over.” Sure enough, you find someone. Then, you say to yourself, “If it works once, it will work again.” But then the next person says… “No.”………. Now, what must you invest?

4. Courage.

Courage is more valuable than capital. If you’ve only got $1 and a lot of courage, I’m telling you, you’ve got a good future ahead of you. Courage in spite of the circumstances. Humans can do the most incredible things no matter what happens. Haven’t we heard the stories? I recall watching a documentary on Mt Everest where a group of tourists got stuck just under the summit when a huge snow storm came through. One tourist, a Japanese fellow, whilst the others around him slowly froze to death, commented that he could not allow himself to die on the mountain that night. He thought of his wife and children and of the life that he had promised them. He “disco danced” all night to keep his arms and legs moving….and survived, his hands and feet needed to be amputated from frost bite. He had the courage to do something different when all the others huddled together. He was the only survivor, the experts said he should not have lived. You can’t sell humans short. Courage “in spite of”, not “because” of, but in spite of.


5. Ambition.

“Wow! If I can sell 3, I can sell 33. If I can sell 33, I can sell 103.” Wow…. it’s happening. You can be dazzled by your own dreams of the future.

6. Faith.

You know you’ve got a good product and you know you’re with a good company. And now you start to believe in yourself. “My gosh, I’m going to pull it off!” Your self-esteem starts to soar. These are investments that are unmatched. Money can’t touch it. What if you had a million dollars and no faith? You’d be poor. You wouldn’t be rich. Now here is the next one, the reason why you will be a millionaire one day.

7. Ingenuity.

Putting your brains to work. Probably up until now, you’ve put about 1/10 of your brainpower to work. What if you employed the other 9/10? You can’t believe what can happen. Humans can come up with the most intriguing things to do. Ingenuity. What’s ingenuity worth? A fortune. It is more valuable than money. All you need is a $1 and plenty of ingenuity. Right now, the next big thing is being invented and you don’t even know about it. Wake up tomorrow and there it is. Figuring out a way to make it work, make it work, make it work…. now that’s genius

8. Heart and Soul.

What is a substitute for heart and soul? It’s not money. Money can’t buy heart and soul. Heart and soul is more valuable than a million dollars. A million dollars without heart and soul, you have no life. You are ineffective. But heart and soul is like the unseen magic that moves people, moves people to buy, moves people to make decisions, moves people to act, moves people to respond.

9. Personality.

You’ve just got to spruce up and sharpen up your own personality. You’ve got plenty of personality. Just get it developed to where it is effective every day, it’s effective no matter who you talk to – whether it is a child or whether it is a business person – whether it is a rich person or a poor person. A unique personality that is at home anywhere. You’ve got to learn to be just as comfortable, whether it is in a little shack in Parramatta having a beer and watching the footy with a typical Aussie family or in Parliament House as the Prime Ministers guest. Move with ease whether it is with the rich or whether it is with the poor. And it makes no difference to you who is rich or who is poor. A chance to have a unique relationship with whomever. The kind of personality that’s comfortable. The kind of personality that’s not bent out of shape.

And lastly, let’s not forget charisma and sophistication. Charisma with a touch of humility. This entire list is more valuable than money. With one dollar and the list I just gave you, the world is yours. It belongs to you, whatever piece of it you desire whatever development you wish for your life. I’ve given you the secret. Capital. The kind of capital that is more valuable than money and that can secure your future and fortune. Remember that you lack not the resources.