If you don’t put timeframes in place it can be very easy to let things drift and get in front of what is important. If you allow yourself to get distracted it will be that much harder to achieve your targets. I have many property investors who state that they want to get into property trading however when questioned don’t really know why. In order to achieve your goals they need to align with the direction that you want your life to go in. On the other hand don’t set the bar too low as you want to push yourself. When setting goals you want to set yourself a challenge however they need to be realistic otherwise you will give up. If something isn’t measurable you don’t know if you are heading in the right direction. goal system which is basically explained as follows Ī specific goal has a much greater chance of being achieved than a general goalĪ measureable goal lets you know if you are heading towards your target. If you haven’t had much experience or luck with goal setting consider using the S.M.A.R.T. Once you know the end goal it is possible to work backwards in regards to the amount of activity that has to be done to achieve it. Because of this it may be worth spending time with a qualified Authorised Financial Advisor who can go through a plan with you in order to firm some of the assumed numbers up. Note to do this accurately some assumptions need to be made in regards to factors such as capital growth, inflation, rental growth, potential taxation changes etc. Start by analyzing what this looks like and it is possible to work back from there to ascertain how many properties of a certain value need to be purchased. Most investors get into it to provide a lifestyle or financial freedom at retirement age. I have sat through thousands of interviews with existing or potential property investors and many state that they want to purchase a certain number of properties however without more analysis the goal they have set is meaningless as the reason for the properties should be a defined financial goal and thus more is required in regards to what value of property and what returns they expect from these. We all have different resources, skillsets, have different goals which we wish to achieve and different timeframes in which to achieve them in. Many property investors start because they have seen a colleague who has had a successful experience or have seen the newspapers going on about some massive rises in house prices and rush in for fear of missing out. Stephen Covey has a fantastic book called The 7 Habits of Highly Successful People which has a key chapter titled Begin with the End in Mind. More of Kris's top tips on getting started in property investment Click on your preferred date to secure your seat.
DOLF DE ROOS RECESSION REAL ESTATE FREE
This FREE event is held at GRA's offices in Newmarket.
DOLF DE ROOS RECESSION REAL ESTATE HOW TO
Come to GRA’s Property Investment and Education Seminar and find out how to get in to the property market, and what successful investors do to manage the ups and downs of the property cycle It’s all about changing strategy as the market changes because different strategies work at different times in the property cycle. How do you break the gridlock and get into property investment safely while minimising the risk of a market downturn?.Have you noticed that despite always thinking you’ve left it too late, the market consistently seems to go up?.Would you love to get into the property market, but think that you’ve left it too late?.Do you feel like you constantly miss the boat?.With our deep knowledge and experience, we have assisted many hundreds of clients with building their wealth through property investment. We help new, small and medium investors become long-term successful investors through our education programmes and property portfolio planning advice. Gilligan Rowe and Associates are a chartered accounting firm specialising in property, as well as asset planning, legal structures, taxation and compliance. Discover how to start and succeed in property investing