If the first time was a walk in the park, everyone would be doing it. And it’s not that. But it’s also not a scary, nerve racking, moment either. However, irrespective of the outcome, good, bad, indifferent… your first property investment will be a moment in time you won’t forget too quickly.
Why your First Property Investment is the most important:
1. You live every moment of the experience because it is completely new. Whether it’s a good or ‘learning’ experience, it will stay with you and dictate how you move going forward.
2. It teaches you a lot. The knowledge you gain from this experience you can take across to many other areas in your life.
3. If the property performs above expectations, and it does happen, you have the opportunity to build your portfolio at a faster pace, if it aligns to your plan.
4. It will improve your financial security – if the results are favourable.
5. You will start to see the world differently. Not be as limited or dependent to your salary income.
6. The process encourages you to take action and get more involved in your money and your money plans. You learn to nurture your relationship with money. And create an awareness around how this starts and changes along the way.
7. It impacts your confidence just by participating in the process.
8. You gain a whole new group of people. The network can be a solid support, not just in property but in other areas of your life.
9. If a mistake is made it is likely to be a small one, because it’s your first time. So it’s less likely to put you into financial ruin. At the time it might not feel like a blessing in disguise, but typically it pans out this way.
10. You learn the difference between short term and long term gratification.
11. You develop decision making tools.