Property should be treated as a business to achieve optimum results and income, whether part-time or full-time.
We’ve all made mistakes along the way, but we would like to give you property investment advice so you can limit the mistakes you make!
Here’s a kick-off of things that turned out differently from what I first thought, perhaps you might add yours to help each other, especially those starting their journey.
Top 5
1. Everything takes twice as long as you often plan.
Set challenging goals but be realistic about how long it takes, how much it costs, and allow/factor at least double the time/cost
2. Property is not get rich quick BUT there IS a shortest route to success [as there is in anything].
That route is paved with hurdles that put others off, that we all have to go through – it’s just part of the journey.
I’ve found that quickest route is a mixture of self teaching, learning from those who’ve achieved what you want, going out and doing it, making mistakes, keeping going, continually learning, doing the opposite of the mainstream/masses and not giving up
3. Best results are achieved through leverage. The more personally you get involved with small things not worth your value, the poorer you become.
Outsource as much as possible, build a strong team, let go, learn to lead and always be aware of the opportunity cost of the things you do to save money that cost you money in the long term
4. Have a vision. Make that vision strong and stick to it. Communicate it to the world and lead.
Stand for something, stand against something, be known for something, and f.o.c.u.s [follow one course until successful]
5. “To know and not to do is not to know – just go” The worst place is in the no man’s land between decisions.
Decide forward. It can be better to make a wrong decision that can be corrected than no decisions at all.
