Two Simple Steps to Being Clear on Property Investing
Have you ever felt overwhelmed and confused?
Not sure where to start or what to do next?
I definitely have! When I started as a property investor just 2 years ago, I had no idea what specifically I was going to invest in, I just knew I wanted to be in property. The idea of doing something once and then reaping the financial rewards through passive income for ever more just made perfect sense. Many of you may relate to loving something and being surrounded by lots of successful people but not knowing for sure where to put all your time and effort
When I run any property training, one of the overriding messages I teach is to F.O.C.U.S (Follow One Course Until Successful). Property is full of ‘shiny pennies’ which can distract you into thinking that’s what you should be doing instead as so-and-so is making a fortune using that strategy! Been there?! Hmmmmm….! If this sounds like you (and it was me too) then I would ask you to do 2 things….
- Have a think about your true values and where you want to be in life. Paint a picture of what you want your life to look like in the next 5-10 years. Then pick a strategy that best fits how you want to spend your time and how what you are doing will ultimately help you to get to where you want to be in the timescales you set.
- Once you have picked your strategy, whether it be single-lets, HMOs, Commercial Conversions or Serviced Accommodation, for example – STICK WITH IT – for AT LEAST a year. So many people put in all the hard work up front but then don’t see the rewards quickly enough and so skip onto something else just as the effort is about to pay off! I always say that property isn’t ‘get rich quick’ it’s ‘get very rich in a reasonable amount of time’! If you keep switching strategies though and getting distracted, then you’ll keep going back to square one.
If you have any thoughts or comments on any of the above, then please do get in touch. I read and respond to every email personally and I’d love to hear from you.