Is Fear Hurting Your Wealth Creation Plans?
Fear is a very powerful motivator.
In fact, it’s a sure thing that if you didn’t have fear you might not be alive today.
Fear’s job is to keep you safe, but sometimes it does its job too well.
By inventing reasons to be afraid.
For example, fear assumes that a lack of knowledge about something is a good reason to fear it.
That’s just not true.
While there’s nothing wrong with caution, you can’t let fear dictate your decisions.
At the end of the day you should be the one in control, not the fear.
The following 4 fears seem to offer good reasons to not start investing in houses, but when you look closer they each stem from a lack of knowledge.
1. Fear of the unknown
Investing in houses, if you’ve never done it before, can be a scary thing, but just because it’s scary, that doesn’t mean it should be avoided.
When we don’t understand something we’re afraid of it…it’s a natural survival instinct.
Education is the tool you need to combat your fears.
Of course there will always be unknowns in life…even when buying property…but when you understand the process you’ll drastically reduce the impact this fear has on your life.
2. Fear of debt
Why are we afraid of debt?
Because we don’t know how to use it well.
We’ve been taught to believe that all debt is bad, and therefore should be avoided.
However, when you learn how to use leverage properly you’ll wipe out the fear of debt and learn how to use it to grow your wealth through investing in houses.
3. Fear of failure
A very common fear, not just among people investing in houses, is the fear of failure.
This fear is behind the condition described as ‘analysis paralysis’…meaning it stops us from reaching our goals by encouraging us to not even get started…or to quit too soon.
If this fear has you in its grip the best way to break free is to realise that you will fail…that’s just part of life. When you expect it, you take away its power because you’ve put a plan in place to deal with it when it comes.
4. Fear of success
Surprisingly, many people have a fear of success.
It’s not so much the success that sets them off, it’s the fear of the changes that it will bring into their lives.
If you have this fear it helps to anticipate the possible changes you might face and put a plan together for dealing with those changes when (and if) they come.
And, on a deeper level, some people believe that they’re not worthy of success. They don’t feel as if they deserve success so subconsciously they do things that prevent them reaching their goals.
If this describes you, it’s important to realise that you do, in fact, deserve financial freedom.
You’re not taking anything away from anybody…you’re actually helping others by providing a good home and even employment (e.g. property managers and their staff).
Give back to your community…support and encourage others and not only will you increase your feelings of self worth, you’ll provide a valuable service to others as well.
If you want to meet with like-minded people sharing the same interest for property investment, you should register to attend our next Property Investor Night.
At these FREE events held all across the country we discuss where the growth markets are right now, and share ways you can navigate your way to financial freedom through investing in property.
Seats fill up fast, so book yours now!
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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…