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The Mind Of A Property
Investor.
Are we a different breed?
Why do we think differently to your average person?
It's like when I talk to my family that work hard all week and I mean really
hard, some of them working 7 days running a business.
At times I feel that I am cheating and doing something wrong compared to
them and they can't understand why I can go on holidays when I feel, have my
children go to private schools, walk on some of the best beaches in the
world and buy almost everything we need.
One thing I always
remember-
"If you don't have a dream or work towards, then you will work for someone
that has".
You see people only see what you are today and forget all the hard times and
decisions you had to make to get where we are today.
The classic is asking a family member or best friend about property
investment and they will give you every reason why you should or shouldn't
do it, or tell you a story that was on Current Affair. Or they know
everything about it but still can't afford to do it or they are waiting for
the right time, etc.
Do you realize that if you want to find the negative or positive about
something you will find it. It all depends where you set your mind to
target, you are the controller and driver of your own mind. And as far as
time goes, when is it the right time?
I believe that now is the right time, but I will also say that I wouldn't
buy in an area that has no potential for capital growth or doesn't meet the
criteria's of an ideal investment.
We are a lucky country because there will always be an area in Australia
that is growing, when other areas have settled.
I got a phone call from an old friend the other day and we used to work on
cruises together years ago. He started operating his own cruises about 14
years ago and now resides in Cypress operating cruises. I can remember when
he first started out I said to him be smart and get the money working for
you and buy yourself some properties.
Well he had a look at some properties that I recommended and he thought that
it wasn't for him and went on about his business. You see he was looking at
what it was at that moment and not what it was to become, the potential of
it all.
You know
what he told me the other day?
"How stupid was I not to buy those properties back then, I would have
doubled or tripled my money today".
DOUBLED OR TRIPLED HIS MONEY TODAY, how many times do you hear that
and yet people are still wondering if they should do Property Investment or
not.
I can guarantee you, what property can do for you in 10 years there is not
way you will be able to save that. And if you could save that then you could
invest in many investment properties and not just one.
E.g.- Let's say we invest in a $350k property and our contribution was $100/
week(Calculated on a 6.75%)
That would be $5200 per year and let's say it cost you the same amount for 7
years. (As we all know rentals increase and our contribution lowers and it
will become neutrally geared-Paying for it self).
So our total investment on this investment would be $36,400. Or let's say
you saved the money by putting $100 per week into your savings account, it's
still no where near or come close to what you can accomplish when you
leverage yourself.
Now in that same time the property would have almost doubled or lets say 10
years it took to double, you would have made $350k. To save that in cash you
would need to put aside $700 per week to get the same result.
And would you like to know a little secret- This is what I teach in my
meetings and 6 monthly's.
When you build your portfolio I show you how to grow your portfolio without
contributing anymore from your pocket. And show you how to work smart and
get tax-free dollars.
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