Property Investment: How to Run the Race & Get to the Finish Line
1. Make the decision to run the race.
Property investment can be your Magical Piggybank but it is an acquired appetite that needs patience and careful consideration. If you want your cash readily accessible, rather opt for a more liquid class.
2. Get into the race – buy the property, let the space, apply for the finance – do what you need to do to get yourself into the game.
3. Train your mind for the road ahead.
4. Strategise a race plan; consider how people achieve big returns on small risk, and decide how you will Take Piggy to the Bank.
5. Get to the start line – assimilate your research and apply your strategy when the timing is right. You can’t finish the race if you don’t get out of your comfort zone and onto the road.
6. Pace yourself. Property is a long-term game. Buying a property for a nominal amount and flipping it for big profit is no longer relevant in this market.
Time = capital growth for your asset therefore greater ROI & positive cash flow
7. Look after yourself along the road. Manage & maintain your asset. Schedule or outsource the management & maintenance your asset needs to reach the value your financial goals require.
8. Let the crowds cheer you on. Understand that you are that much more effective when you use the resources and support at your disposal – be it business partners, family & friends or thought-leaders like Suits & Sneakers.
9. Lastly, back yourself 100%. Ignore the naysayers, take the risk – either you’ll reap the rewards or your failure will train you to be that much better the next time round. The industry is tough. It requires a fine balance of mental stamina and emotional control, along with bullish resolve to get over that finish line.
