This 1 page property plan will get you in the property investing mode - encouraging you to put pen to paper - and get you thinking & discussing the key property investing considerations: (1) Goal setting (2) Your current situation (3) Taking Action.
Been Burnt?
There are plenty of stories doing the rounds of people getting burnt in property investing. So if this is you, you are not alone. We have all had an experience, that if we had our time again, we would of done definitely. So our advice is to not dwell on this, but to recollect, and look at how you can start to move forward.
Sometimes we can get caught up in a downward spiral, and when this happens, the best thing, is to keep things simple. Look at what’s going on, speak to your accountant, speak to other investors, tap into your own intuition… something that cannot be underestimated. Surround yourself with people that you can trust and that you feel good around.
If not now, the time will come when you will be confident and able to share this experience with someone else, to help them avoid what you have gone through.
The past is passing, let it pass, and get back on the horse.
If you find yourself in a place of what you think is disrepair, pick up the phone or send us an email. Let’s have a conversation. Something or nothing may come out of it. We might be able to provide you with some guidance / mentoring... how how you can get back on track.
You might also realise, your situation, isn’t as bad as you thought.
Going Strong?
So you are a fully fledged property investor. To get this far, you are obviously seeing the benefits and possibly enjoying the process or the returns, or both! So where do you go now?
You might be someone who has built up a property portfolio of 5 to 10 properties, and would like to try something slightly different.
You may be someone who is building your property portfolios and wants to keep going, doing what you are currently doing, because you feel it’s working well.
You may be someone that has a highly diversified property portfolio.
You have had good success in property investing. You have already, if not sometime soon, left full employment and would like to have a ‘property type’ business.
You also could be someone who has just inherited a very healthy property portfolio and you don’t know where to start or how to manage it.
If you can relate to any of these scenarios, then pick up the phone / email. We have come across all these scenarios and have provided assistance in helping people decipher the next best step. Even if you fall under the scenario ‘things are going well’, we highly recommend you get in touch with us, for a different perspective.
As experienced buyers agents, we spend a lot of time with a lot of people in the property industry and are always happy to share our learnings and own personal experience, to help you maximise the opportunities that are in front of you.
Or What's Next?
For whatever reason, whether you are bored with property investing, or you purchased your first and/or second investment some years ago but haven’t done anything since then, or you feel like you are lacking clarity (e.g. you don’t have a compelling enough ‘wealth for what’) you have two ways forward:
1. Get clarity. You can always speak to us. If we can help, we will. We also recommend you think about the people in your life that have attributes, characteristics, knowledge, experience, disposition that you admire. Ask yourself who you enjoy spending time with and why. Find yourself a great coach. This is a game changer, if you are looking to make change in your life.
2.Look at your current financial situation. Understand what you are dealing with and what opportunities you can explore as a result. This is something that we can talk this through with you. Also speak to your accountant.
It’s worth noting, when it comes to acquiring financial advice / accountant, that the person giving the advice has their own skin in the game. Particularly when it comes to property investing. In our experience Accountants with property investment experience have a broader scope of the market (both challenges and opportunities) and how to maximise tax effectiveness.
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2. Surrounding Property Market.
3. Images and Video This is a great way to build your knowledge about the market and property investing.