Have you taken action in 2016?
Where do you want to be in 2021?
Do you know are you going to get there?
I know I have just bombarded you with three questions and have not even allowed you to answer one. But I just wanted to give you something to think about. These are often questions I ask my clients, when I first meet them or when they come back in for a review.
The first question “Have you taken action in 2016?” is about taking action and not sitting on the fence – without stepping up to the plate and signing a contract you are never going to buy a property. Often people over analyze the deal; they go into analyses paralysis where they don’t move forward and miss out on a great deal. Then once the opportunity is gone they say I should have gone ahead on that one. So the biggest thing stopping people is that that don’t actually go past first base, they get too busy just living and don’t spend enough time actually looking at opportunities, taking the plunge and moving forward to invest.
The second question “Where do you want to be in 2021?” is all about planning and setting your goals, the amount of people who actually have their goals written down is probably only about 5%. How do you go through life without a plan? You can’t build a house without a plan so how can you expect to build any wealth without a plan? Without a clear plan you are automatically on the survival plan and running on the hamster wheel – or as Robert Kawasaki said “you’re living in a rat race”. You cannot rely on the government or anyone else to help you out, you must start planning ahead and write your goals on paper where you can see them every day. A vision board is a great start if you are not sure about your goals and it is very visual so you can see it every day!
The third question “How are you going to get there?” Who is going to help you achieve your goal? What team do you have around you? Accountant, finance broker, property strategist, insurance broker, financial planner or mentors who have done it before? Also what are you going to do make sure you finances are in order? Start looking for opportunities – go and drive around the area you are looking to buy in. Do research on the real estate sites, local government for zoning and flood zones, google the area looking for infrastructure projects and employment sectors. Educate yourself about tax, structures, how the banks work and what a planning approval entails. This is all adult homework for investing.
So right now is the time you want to take action and purchase an investment property, not soon, not maybe in 6 months, not once the youngest starts school but NOW. Don’t sit on the fence, get your finance sorted, know your borrowing power and have fun building your future!
This doesn’t have to be a scary or overwhelming process! Give me a call for an informal chat on how we can start to build you wealth through property.
Cheers Chris 0434 449 455