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We all make investments, to some extent. In some instances we don't call it investing. For instance, we don't consider buying a week's groceries an investment, but those groceries are an investment in our well being for the next week.

In real estate, most consider the investment to be the house you buy to flip or rehab, but that's only a piece of the overall picture. Granted, it's the picture that provides a cash payoff but the truly successful real estate entrepreneur knows that's only a piece of the investment puzzle. Other types of investment are required for long-term success.

Invest in relationships. When the rubber meets the road, it's your relationship with others that buys, sells, and manages projects. Nothing happens without you speaking to and interacting with others. The more solid these relationships are, the more property you'll profit from in the long run. What exactly am I talking about? Remember that extra helpful real estate agent, or clerk at the country records office? Why not send them a professional-looking thank-you note? Why not take that more experienced investor to lunch? If your contractor has been particularly fair or timely, be sure he knows that you appreciate it. Your investment in relationship building is critical to your future as an entrepreneur. You simply can't prosper without a few key relationships that you build and nurture over time.

One of the great lessons in building relationships is to learn to put the focus of attention on the other person when carrying on a conversation. What father or mother doesn't like to brag on their daughter's great piano recital or their son's homerun on Saturday? Try to find common ground instead of boring the other person with your great accomplishments! You'll be amazed how many doors this technique opens. If you haven't read "How to Win Friends & Influence People" by Dale Carnegie do so VERY soon. It's a wonder that this isn't required reading for all high school students.

Invest in adversity. There'll be times when things don't go your way and you will have to huff and puff to protect your interests. Rest assured that you'll be judged more on how you handle the stressful situation rather than how you behaved when things were going your way. Anticipate problems and decide how you're going to handle them before they arise. Chances are, you can find a way to preserve the relationships you need, perhaps strengthen them through adversity, but it takes forethought. Emotional reactions are usually over-reactions. Richard Carlson wrote in "Don't Sweat the Small Stuff" of a Buddhist teaching which reads something like this: Consider your favorite objects or your favorite situation (relationship) as ALREADY broken. Know that it eventually will likely become broken and you'll need to fix it. It takes some practice, but this awareness is a real stress reliever. What adversity can't be better handled when one has this perspective?

Invest in yourself! This can be done numerous ways i.e. your appearance, your health, etc. but the primary emphasis here is education. You've probably heard folks say something like this, "I don't need such-and-such. I know enough about that." This might be true if you're talking about the finer points of sharpening a pencil, but when it's you or your family's financial future that's at stake…well that's different. The greatest investment any investor can make is in the education of oneself…whether you are a beginning investor or experienced.

Make it a life long goal to become the best that you can be. This mean a never ending process of learning and experimenting with new ideas, techniques and skills. Just last month, I spent $4,000 learning some new investment techniques and I can't wait to learn more!

With a bit of determination and the right knowledge, you could make another $25,000 - $100,000 next year. What would that do for you and your future? If you can achieve that kind of extra income next year, you could easily do it again the following year, and the next, ad infinitum. With so much potential at stake, does it make sense to cut corners? I know folks who hesitate to buy educational materials because of cost, yet they stand to make 100 times their investment with just ONE deal. The stock market calls it a good year if the average gains a mere 10%. When it comes to yourself, don't be a cheap-skate in investing in your education. When you invest in yourself, it's risk free!

Invest in your goals. Shad Helmstetter, Ph.D., a motivational psychologist, says 85% of Americans don't set goals of any kind. Only 5% of those that remain ever commit those goals to paper. Yet research shows that we have a ten times higher chance of achieving those goals if we write them down and review them from time to time. Americans spend more time on their Christmas list than setting attainable goals.

If your goal is a Ferrari, why not cut out a picture of your goals and put it somewhere you have to see it from time-to-time. Scan it and make it your computer wallpaper. Put it on your refrigerator. Make a list of goals you want to achieve in the next year. Put the list in your day-timer and take 15 seconds to look at it every day. You'll find your actions more focused and directed. It's just too easy to get side-tracked. There are a million other forces trying to distract you. Make sure your goals are first and foremost in your mind every day!

Goals take many forms. For some it's a dollar amount in the bank… for others it's a casual stroll into the boss's office to tell him where he can stick this job…and for others it's simply more time to spend with family. Goals are very personal but they should be written down and given a specific deadline for accomplishment. Finally, goals should be flexible and amended regularly to reflect the current realities in your life.

Real estate investors have to invest money and or energy in properties in order to profit. But investing in ourselves and in others who can help us achieve our goals is an aspect of investing that cannot be overlooked. The time and minimal cost involved in investments in relationships, adversity, education, and goals are pennies on the dollar of what you'll make as a result of those "little" investments. Eventually, you will conclude that these were the best investments you ever made!

By Kevin C. Myers.

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