Are You Clear on Your Property Investing Strategy?

Are You Clear on Your Property Investing Strategy?

Some people we meet have sometimes felt overwhelmed and confused when it comes to making money through property.

How about you? Are you unsure where to start or what exactly it is that you need to do next?

When we started as property investors many years ago, we had no idea what specifically we were going to invest in. It was simply a case that we just knew that property was lucrative. Once we discovered the idea of working once and then reaping the financial benefits through passive income (possibly for ever!) it all made perfect sense.

Others were doing it, so why not us?

You may also relate to being passionate about something, being surrounded by lots of successful people, yet not really knowing yourself where or how to take effective action.

One of the overriding principles we teach is to F.O.C.U.S. (Follow One Course Until Successful). Property is full of ‘shiny pennies’ which can lure and distract you into thinking that’s what you should be doing. "Let's do this as I hear 'so-and-so' is making an absolute fortune using that strategy..."

Have you been there?

We have! If this sounds familiar, then we would ask you to do the following:

Think about your values and exactly where you want to be in life. In as much detail as possible, paint a picture of what you want your life to look like within the next 5 to 10 years. Where are you living? Who do you spend time with? Write everything down. Review and refine every 3 to 4 months.

Once you have determined your future vision, select a strategy that best fits your circumstances. How much time do you have to dedicate to making your desired outcome a reality? What resources, skills and knowledge do you have access to?

Once you have picked your strategy, STICK WITH IT - for AT LEAST a year. Don't be one of the many people that put in all of the hard work up-front but then give up too early, as they don’t see the rewards quickly enough and so skip onto something else. The irony is that often it's just as all the effort is about to pay off!

It is often said that property isn’t ‘get rich quick’ - it’s ‘get very rich in a reasonable amount of time’! Most people overestimate what they can achieve in a year, but massively underestimate what can be done in a decade. If you keep switching strategies and chasing the 'shiny pennies', then you’ll more than likely keep going back to square one.

If you have any thoughts or comments on any of the above, then please do get in touch. We read and respond to every email personally and would love to hear from you.

Andrew & Mark

Categories: News