Property Investment Articles
“Stop Wondering what is the Right Investment Strategy for You and Discover How to Build a Property Portfolio the Right Way – Right from the Start”
This FREE report will reveal the 7 elements to building a successful property portfolio so that you can reach your financial goals sooner”
This is the first element of the 7 elements – download the full report at wholisticfinancialsolutions.com.au
1.The Right InvestmentStrategy
– “Discover the most critical step to property investment before you start to invest –if you DON’T define this step you will never have success with property investment”
The first step is determining your strategy. The question is not what the right strategy is but rather which strategy is right for you? You should not invest in property until you know your strategy.
Getting the strategy right is the absolute crucial first step.
The majority of investors are what we call ‘accidental investors’’ – they accidentally buy a property without much thought. Perhaps they upsized to a new house and decided to rent their old house rather than sell, maybe they bought while on holiday, perhaps they inherited or maybe they just bought because it seemed like a good idea. However, they most likely did not sit down and actually plan what they were attempting to achieve from their property investments.
As they say, “If you fail to plan, you plan to fail.”
“Everyone who wants to be financially independent needs to plan how they are going to get there! Financial independence rarely happens by accident.The plan needs to includethese three important points:
1)What you want to achieve
2) Why you want to achieve it
3) How you are going to achieve it
The ‘what’s’, ‘why’s’ and ‘how’s’ are paramount to your success!” In order to determine your strategy you need to determine what you want to achieve by investing in property and why.
What is your ‘so that…’ factor?
What is your ‘emotionally dominant’ reason?
Is it ‘so that’ you can retire early and relax on the beach or travel the world? Is it ‘so that’ you can provide housing for your children as you realize housing is becoming less and less affordable? Is it ‘so that’ you can gift more money to charitable causes? The more you understand the ‘what’ and ‘why’, the more likely you are to stay on track and achieve
-your goals, the more likely you are to feel the fear and do it anyway, the more likely you are to take the steps necessary to reach your goals and realize your dreams.
The ‘what you want to achieve’ needs to be in clear and measurable terms so that you can set the specific goals that you want to achieve. For example:
“Let’s say you want to retire at age 55 so that you can help your daughters with their children by babysitting when they are due to go back to work. This is a ‘so that’ factor and it is specific. We can then calculate how much money you will need to have at age 55 to make this happen. Then we can look at the ‘how’ to achieve this goal through property investing.
Or you may have a completely different strategy. Maybe you are a ‘handy man/woman’ who loves home improvements and handiwork yet you’re stuck in a boring office job. Perhaps you would like to purchase a set of units so that you can eventually retire early andlook after the maintenance on the units as a full-time job.
Perhaps you want to buy properties close to home and good universities so that your children can move into them when they are studying to become doctors and lawyers.”
Everyone has a different ‘so that’ factor and it is important that you understand this right from the start.So once you understand your ‘so that’ factor, we can begin to look at the ‘how’? We will help you identify your individual strategy. Is it…?
For the next 6 elementsof the 7 elements – download the full report at wholisticfinancialsolutions.com.au