Discover a surprising character trait of many successful commercial real estate investors and 4 ways to use this superpower to your advantage.
Do you like to be alone? Are you reserved, have a small group of friends and avoid big crowds? Do you prefer to work alone and have one-on-one meetings? Some of you believe that you can't be successful in commercial real estate if you possess these qualities. But this is so far from the truth! If this describes you then you are an introvert, just like myself and many of my most successful Protégé Program students. In fact, this trait isn’t a hindrance to success, it's a superpower! How is it a superpower you might ask? Well, what you perceive as a weakness is actually a strength. As a commercial investor, these are positive qualities you can use to your advantage:
- You are reserved because you don’t like small talk and prefer meaningful conversation.
- You like to be alone because that's how you recharge.
- Working alone helps you focus and concentrate.
- You avoid big crowds because you find it draining.
- Having one-on-one meetings enables you to develop deeper relationships with a person.
- You have a very small group of friends because you like high-quality friendships.
And just to hammer in my point that being an introvert is a strength; 98% of all billionaires are introverts. Warren Buffett, Bill Gates and Elon Musk all fit in this category. Even Albert Einstein was an introvert. Proof that being an introvert is a superpower!
4 Superpowers of an Introvert
Superpower #1: Your Ability to think Outside the Box
In our commercial real estate protégé program, we give our students tools to be creative. We teach them how to do seller financing, like a master lease or seller carry second, seller carry first, or installment sale. Introverts tend to grasp these techniques easily. When they meet a seller and understand their motivation, they know how to structure the deal and make the offer. As an introvert they excel at implementing these creative techniques.
Superpower #2: You Forge Deep Relationships
As I always say, the business of commercial real estate is a relationship-based business. Opportunities are found, capital is raised, and problems are solved with property managers, agents, lenders, and sellers through relationships. All these things are crucial to you being successful in this business and introverts are able to forge these deep relationships.
Superpower #3: You Take Calculated Risks
Contrary to what some people may think, introverts aren’t risk averse. They take risks, however they are careful and calculated in those risks. A lot of our student investors are very technical people and they have a goal of achieving financial freedom so that one day they can leave their jobs to be a full-time commercial real estate investor. This requires taking careful, calculated risks.
Superpower #4: You Have Quiet Strength
Quiet strength is finding fulfillment in doing things people say you can't do. I have this little sticker outside of my door that’s just for me and no one else. It says, "Happiness is found in doing things people say you can't do." You will have people say that you can't do this or that because you're an introvert. That is so not true! So, we have little things spur us on, like my sticker, that people don't see because as an introvert we don't need our goals to be out there. We have this quiet strength, and we have these big goals inside of us that we want to accomplish, and nothing will stop us.
Bonus Tip for Introverts: You Do You!
Do not try to be an extrovert! I tried it and it doesn't work. You just end up with inner conflict, and you procrastinate and get nothing done. As my cycling coach says when I'm struggling, "Peter, you do you." Meaning, don't try to be someone else you think is more successful. Be yourself and use this surprising trait to your advantage as a commercial real estate investor.