One of the frequently asked questions I am always asked is:
“What one thing would you advise us to do as a property investor going forward?
This is normally from people who decided they want to invest in property, and they just want a tip or a golden nugget that’s going to help them be successful and move forward. The one thing I always say is about persistence. You know there are plenty of people out there that are going to tell you property doesn’t work. There are plenty of people out there that are going to say:
interest rates are high, you can’t do it.
There’s no way you can make money from property.
Landlords are leaving. They’re running in the droves.
The government is hammering you. The government has been horrible to landlord investors.
There are plenty of naysayers, people that just put you down. And the reason they’re saying that you can’t do it is probably because they don’t think they can do it. Now, persistence is really, really good at breaking through all this noise . I have people sometimes say to me, I can’t find a deal. I’ve gone and I’ve viewed properties in an area. I’ve looked at 10 and I can’t find a deal. Well, that’s not enough. You’ve got to go back to that area over and over and over again. You know, 10 viewings is not going to give you a good feel about an area and is not going to get you a property deal that you want. It’s about persistence. It’s about doing it over and over again. It’s about finding an area, if that area doesn’t work, looking for the next area. It’s about doing the numbers over and over again. It’s about putting in offers on properties. It’s all those actions combined and when you feel that you’re getting battered or you just don’t feel like it’s worth carrying on, that’s when you need some help and support. That’s when you mentor , your coach and your training will kick in and help you to get to where you want to be. So the one thing you need to be successful in property investing and that will impact in any business is persistence to keep going.
There’s a caveat to that though, you don’t just keep going if it’s a bad investment, that’s where you need some advice, you need some help.
Don’t buy stuff that’s rubbish and don’t keep pushing things that aren’t really working for you.
Sometimes there is a point where you’ve got to step back and say perhaps that’s not the right area, perhaps that’s not the right product or the right strategy for me, I might have to rethink this. Come back to the drawing board and start again.
Maybe look somewhere else,
Maybe look at a different strategy.
But persistence in in the whole is the one that really will get you over the line and where you want to be in your property investing.