How To Create A Step By Step Property Plan
To succeed as a property investor, there is one fundamental component you need – a plan. You need a plan that leaves no bases uncovered that would potentially cause issues in the future.
I often meet people who have done just about every real estate education seminar that’s been offered in Australia or New Zealand. They will explain that they have continuously researched many groups and philosophies yet when questioned on what action they have taken following the event; the answer is a resounding ‘NOTHING’!
This type of behaviour is called analysis paralysis.
IF YOU DON’T PLAN, YOU PLAN TO FAIL
Acquiring knowledge is one thing but if you can’t implement it, it becomes almost useless.
You see, most people will just create a default future and sadly for many Australians and Kiwis, the result is that they end up on the pension. The statistics are, from every 100 people born, 75 will end up in retirement using the pension system to survive.
If you don’t like how things are, change them with the understanding that improving yourself is not a one-time thing, but rather a constant challenge!
I will not let a week go by without some sort of self-improvement. I usually allocate a whole day to work on my goals, ideas and dreams.
It doesn’t matter what our structure looks like or how we go about shaping it, but it’s important we have clear direction around what it is that we’re trying to achieve. Otherwise, we just stay stagnant. We just sort of plod along.
PLAN OR PLOD?
Of course, that’s ok if you are choosing to plod! Some people make a life out of plodding.
The other day, I drove past a surfer’s car that bore the slogan, “If you work, you obviously don’t surf”. What a great habit for those choosing to plod along!
But many of us don’t want to plod, we want to make a difference.
Unfortunately, a lot of people don’t realise that it isn’t difficult to change and start making a difference.
THE FUTURE IS WHAT YOU MAKE IT
You can choose to live any way you wish. In fact, you can make the next decade dramatically different from the previous one, but only if you choose to. You have to accept change and be open to it – even greet it with wide-open arms, because it is what will help you move forward.
We set out in our lives on a particular course, based on what we know. Yet, we cannot rely on loopholes and tight squeezes to get by in life, it is far better to rely on goal setting and good habits.
The truth is, you can map out your future. That may be, for example, retiring on $100,000 passive income per year.
If that’s what you need, you just have to set a goal and create a plan. Sitting on the fence just means you are delaying facing up to the reality that one day you need income to live off beyond your job.
In order to set goals for the future you need to develop habits.
Good habits allow you to break down an unsuccessful routine and reroute yourself to what you should be focusing on. The habits that I continually seek to improve are:
- Spending habits
- Health and travel
A BASIC ROAD MAP
Don’t have a plan? Well, you can use my basic road map!
First up, let’s set a goal in real estate, that I call an “automatic acquisition plan”.
When I first started in real estate, my acquisition plan focused on acquiring one property every second year, with the aim of having five properties in 10 years.
It’s like going to the dentist – you create a reminder in your calendar to call your dentist for a check-up, but this time you do it for property. This will allow you to be consistent and consistency allows us to ensure our goals become a reality.
So, what happens when you buy one property every second year for the next 10 years? You end up with a multi-million dollar portfolio. That doesn’t sound too bad, does it?
Let’s say that portfolio is worth two million. Well, then it’s just holding on for the ride.
GET A CUSTOMISED STEP BY STEP FRAMEWORK
Generally, in Australia and New Zealand property grows faster than inflation and, in the past, property has doubled in value from seven to 18 years. Meaning you can become a property millionaire very quickly.
It sounds easy, and to be honest with the right plan it is! Understand the tried and true strategies successful property investors use to grow immense wealth.
Develop a step by step property plan that will lead to passive income at our free property investors’ seminar.
Here you’ll learn how to take advantage of the current market landscape, as well as the chance to have one of our property experts assess your exact situation and establish an actionable road map that’s right for you.
By Sam Saggers
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