I want to talk about the things that must come first when buying property… It is setting your GOALS, MINDSET and MONEY RULES.
GOALS – to achieve a desired outcome in a certain time frame i.e. I want to go on a trip to Thailand by June 2020 or I want to have at least one investment property within 5 years.
MIND SET – This can often be the hard part as your mind plays tricks on you. You need to fill your head with positive affirmations and be around positive people, the mind will allow you to be who you want to be and have what you want but you need to nurture it. Be careful of negative people in your life or people who tell you that you can’t.
MONEY RULES – this is what you agree to invest in and with how much – what is your appetite for risk. Do you want to do development straight off where the potential profits are bigger but the losses could also be greater or do you invest 50% in property and 50% in shares?
Where do you want to be in 5, 10, 50 years? What does the future look like for you? How does retirement feel? What would you like to do in your free time? Would you like to help out the grandkids? Do you want to travel the world? Are you interested to know how to own your home out right in 5 years?
Start the conversation with someone, if not me there are others in the community. Start to talk about this with your wife / husband / life partner if you have one – so you know you are on the same track. Have individual goals and partner goals, if you’re not sure what they are, collect pictures and photos of your dreams and pin them to a board – this starts the vision board.
Everybody should have a vision board, something you can see in the morning and every day. It gets you to focus on what you would like, need and want. How you want your life feel.
Now I have even been a little bad myself and have put this on the back burner. I have had those life issues that come up, separation, funerals and running around after your kids….. you all know how life gets in the way. But without the road map we keep going in the same circle.
So I pledge by the end of the week I’m going to have my new vision board ready to go and have my next 120 day plan set and ready to achieve.
What is stopping you? Get active, make time to create a plan and build wealth for the future. Start putting in some time and thought processes to which direction you want your life to go and where you want to be in 5, 10, 50 years from now…. just do it – you wont regret it!
Contact us here at Blue Wave Property Strategies today to get your Goals, Mindset & Money Rules in place, we can point you in the right direction and help you on your way to real wealth through property investing.