I Can Predict Your Property Investing Success
May 11th, 2009 | By Les Sheppard | Category: Featured ArticlesWelcome back! Have you made sure you never miss a new property? Subscribe to updates with your best email address in the sidebar to the right.You see everything new at least 48 hours before the crowd!
Yes, I CAN predict your property investing success, even without meeting you face to face. That’s a big claim isn’t it – but there are some vital signs that will give me the clues as to how well you might do as a full time property investor, and I’ll share them with you right now. Here goes…
The Clarity of your Goals
If you have taken the time to sit down and REALLY work out what you want to achieve from your property investing career, then I know that you have increased your chances of success ten-fold. I know that you will have a definiteness of purpose that will see you through all the challenges you’ll face from time to time, and that you will be able to maintain your focus.
It’s not enough to say “I want to retire rich some day”, and expect this to give you all the drive you’ll need to make it to the top. You’ll need to be much more specific about things… “How can I own a portfolio of 30 investment properties, that are all cash flow positive, by 31st December 2011″ is a statement that is far more likely to produce a positive outcome. And framing your goal as a question immediately starts to set your subconscious mind the challenge of finding the way it can be done.
The Consistency of your Actions
Once you have decided on your goal, and clearly defined it, you’re on your way. But, if you aren’t consistent with your actions you are still risking failure. Its no good taking the gains from your first few investments and blowing them on expensive cars, or the holiday of a lifetime. You have to delay your gratification for a while, and let the benefits of your efforts start to build up through compounding!
If you stick to a well defined plan of (say) buying property assets steadily in a certain area that you are familiar with, at prices proven to be below market value – where you know they will rent well… That’s consistent, and WILL produce the required results over time.
If you buy outside of areas that you know and understand, buy off-plan with uncertain results, buy a complete mix of multi-lets & single let properties – you are again increasing the risk to your long-term goals and eventual profits through your own inconsistency.
Who You Listen To
Now, if you have clear goals AND your actions are consistent with those goals over a decent period of time, you ARE going to get there. The pleasures you have put aside while you built your pile will be there for the taking.
But, there’s a final pitfall for the unwary property investor… And that’s who you listen to for your opinions!
Over the time it takes you to build your portfolio there will have been movements in the property market upwards, downwards and sideways. Even in the best of times you’ll be able to find someone who fears the next big crash.
I promise you that you won’t find meaningful opinions that will help you make sound property investments from either Bob down the pub, your mates and neighbours, or the daily papers. Only listen to people who KNOW what they’re talking about… AND are doing it for themselves!
Journalists write to sell papers, and may not even have investment properties of their own… So why would you want to make key decisions on your future financial security based on speculation and gossip that’s has no basis other than personal opinion anyway? I’ve found stories about impending property booms and crashes in the same paper, on the same day!
Follow the experts… People who are building serious wealth for themselves and are prepared to share a few snippets on their methods and logic. Once you’re in motion you’ll find them. “When the student is ready, the teacher appears” is a popular statement that really does hold true.
So, there you are… I really can tell if you’re set for property investing success by knowing your attitude to these simple principles. Set firm goals, be consistent in your actions, and only listen to people who are doing it for themselves. I welcome your comments…
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Nice site, where did you get your template from? I would love to get one similar
Thanks – the template is called Branford Magazine, and there is a link to the website where you can pick it up for free at the bottom of the index page.