Errors Holding You Back
Mistake #1 was the myth or belief that many people have, that investing requires you to sacrifice your money and somehow live on less to create wealth. Lowering your lifestyle today to have some kind of unknown lifestyle off in the distant future.
That doesn’t have to be the case and in fact, often using your “earned income” to support your “automatic income” can hurt your growth and actually hold you back. Counterintuitive I know, but when you’ve sat down and done over 18,217 strategy sessions with clients… we’ve seen this mistake hurt just too many people.
The second mistake that people make is thinking that investing is the same as waiting.
This just isn’t the case.
We have seen properties make anything from 100k to 180k in around 18 months, in suburbs where other properties have actually gone backwards by -2.3%. It is simply not true that you need to sit around forever, hoping that the market rises to make you some money. Professional investors don’t work that way.
Also, most people don’t realise that an intelligently selected investment property in a high growth area can increase your available cashflow TODAY. Having said all that, let me make this VERY CLEAR.
In real estate, there is no such thing as “get rich quick” – it doesn’t exist. Anyone telling you this is probably just trying to take your money. We have tried almost everything there is to try in property investing over the last 15 years. We’ve looked under every rock, under every bush, behind every tree… I’m telling you, it’s just not there.
Yes, some ways are faster than others, like the examples I have above. However any system that takes you from “zero to millionaire in no time flat” should be screaming alarm bells at you
Here is what we do see though…
Most people grossly overestimate what can be achieved in 5 years and grossly underestimate what can be achieved in 15.
With the right strategy and help, you can be done, dusted, out of the “earned income” game in 15 years (or potentially less).
Hey there, do you enjoy the Positive Real Estate Blog? If you did, why don’t you book into a Property Information Night in your area and get more information from our team. You can do so here.
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When it comes to property investment there are some things you can never have enough of.
When it comes to property investment there are some things you can never have enough of. Good tenants, reliable builders, a great relationship with your bank.
But more than anything what you need is good cash flow.
Having a steady income of cash means never having to dip into your own pocket to top up repayments, complete repairs or make another purchase.
Here are the top five ways you can ensure the cash keeps flowing, so you can keep your investment portfolio growing.
Don’t be caught without it.
As a property investor who is building a portfolio, it’s vital that you have access to your equity whenever you need it.
There’s nothing more frustrating than finding that perfect new property to purchase, only for it to be held up – or worse still, lost completely – because your finances weren’t in good shape.
Having an interest-only loan structure with a healthy off-set account is a great way to ensure you have equity at your fingertips whenever you need it, but that’s not the only way…