Property Investment Insider Secrets Revealed - Make Millions With The Right Planning
Did you know that property is and always will be the safest
and best way of investing your money?
It's so good in fact, that it is estimated that nearly 90%
of the world richest individuals become rich by investing
in property!
So let's find out exactly how anyone, including you, can
plan for and build property empire, and make you a
millionaire!
1.Finding The Time
Have you ever wondered why you are always working and never
seem to have enough money?
Now I invest a large amount of my income each month and am
able to get a large passive income each month which gives
me a very good lifestyle.
Previous to this, I would spend many nights thinking about
what I had achieved that day.
There were days where I would work, go home, watch TV go to
bed, work, get home and watch TV again.
Basically, I was in a rut.
One of the most useful things I found was finding the time
to focus on the things that really mattered.
So how do you find the time. Let's have a look at some of
the things that really takes up a lot of our time:
1- Watching TV.
2- Do less work and overtime
3- Plan your time more carefully.
Surveys show that after work and sleep, watching TV is the
third main use of people's time.
Don't get me wrong, there are times nothing better than
watching TV, but sometimes it can take up too much of our
time.
Time is the most precious commodity. Personally speaking,
given the choice between time and money, I will always
choose time. After all there is an abundance of money, but
only a finite amount of time.
What with the age of retirement continuing to rise and then
pensions not being large enough for out retirements, people
are increasingly thinking more and more about securing
their financial future.
You owe it to yourself and your family.
ANYONE who can understand money and how to make it work for
them, rather than them working for it, can become
financially independent within 5 years.
2. Setting Goals
Let's imagine that two people are driving somewhere they
have never been before.
The first driver sets off straight away as fast as he can.
The second driver first spends some time looking at a map
and deciding on the best route to go.
Which driver do you think will get there quicker and easier?
This is exactly the same way with property investment.
To be successful you have to declare where you are heading
and set your targets.
Goals are important for many reasons:
a.They call you to action.
b.They help you make choices. Go for some things and reject
others.
c.They introduce accountability.
d.They motivate you.
e.They increase your confidence to get you where you want
to be.
When setting your own goals be honest with yourself. A
great tip is to write them down on paper and refer to them.
It's a proven fact that those with written goals perform
better than those without.
A goal is a tangible result that is unambiguous and
measurable.
Sir Alex Ferguson did not become one of football's greatest
managers by telling his team to just see how it goes this
year '...that `hopefully we will do well again'. He tells
them 'by Christmas we will be in the top three and by the
end f the season, on May 17, we will be number one!'
"I want to own 100 properties as soon as possible" -that's
not a goal.
"I want 1,000,000 in my hank account by December 31, 2008"
-- now, that's a goal!
Set yourself a clear, measurable goal now.
Then break it up into smaller, more manageable tasks so you
know exactly what you need to do in order to achieve it.
3. Deciding On Your Strategy
Goals are WHAT you want. Strategy is HOW to get them
Here are some of the questions you need to be asking
yourself when setting your strategy.
- Have I got my goals clear?
- Has someone I know double checked that my goals are
realistic and properly set out and written down?
- How much do I need to make financially to hit my yearly
goals? Break down your overall goal into smaller chunks..
- What kind of property investment meets my risk profile?
- What kind of property investments are going to help me
reach my goals?
- Property investments can choose from include off-plans;
buy-to-let renovations;
- How much time do I have on a weekly basis to make my
goals happen?
- To whom am I accountable for reaching my weekly and
monthly goals?
- What reading and researching do I need to do each week?
- What support do I need to buy in or nurture such as
accountants, lawyers, finders, lenders and brokers?
Have I prepared a budget and a business plan?
For example, here was my goal when I first become
interested in property investing.
Main goal- To become financially independent in 5 years.
Tasks needed to achieve this:
Education.
a- Take a course in property investment.
b- Read 5 books on the topic.
c- Join a property investment forum to learn from other
people.
Money
a- Cut back on unnecessary expenses every month.
b- Save 40% of my salary each month, which was
approximately 500 pounds at the time. This was to use to
make property investments.
Investments
a- Purchase my first property within 6 months.
b- Purchase a new property every year.
As you can see, it helps to be very specific with your
goals. If you can give specifics and values as this gives
you something concrete to achieve.
Consider these two targets:
"Save money each month" is a little vague and might mean
you only save a very small amount.
"Save 500 pounds a month" is more exact and also pushed me
to be really careful with my money.
It was really hard work, but it means that I was able to
put down a deposit on my first property within the 6 month
time limit.
Once you have set your goals, review them every 2 weeks or
so to see if you are going
Anything that does not fit all of these criteria does not
even get considered further by me.
It's important that you think about your own.
4- Good Financial Ground Work
If you are managing your personal finances badly to start
with, getting involved with property will not help.
Whilst property investing can be a great way to create
wealth, it shouldn't be used to paper over cracks in your
existing finances.
You need to sort out the cracks first so that when you do
invest, the money you make doesn't fall through them.
Manage your property accounts and personal accounts
separately. Use separate bank accounts.
If your personal income is subsidising your property income
or vice versa, be clear about how much and in which
direction the money is flowing. You need to have a firm
grasp on your finances to prevent problems
The simple answer that will solve all your money problems
is to spend less than you earn and invest the difference!
5-Summary
Make time for your financial freedom. It's well worth it.
You will be surprised to find that securing your financial
future can be done in less than 10 hours a week.
Consider that this is less than a third of the time that
the average adult watches TV each week.
Make goals that you are happy with and create a strategy to
show how you are going to achieve it. If you can do this
and stick to you plan, then you will have laid th4e
foundations to creating your financial future and it will
only be a matter of time before you make your first million
with careful and informed property investment.
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Robert Gavin has gone from renting a studio apartment to a
property portfolio worth over £5 MILLION…in just 5 years.
His team now help over 14,000 other investors achieve the
same. To get your FREE Millionaire Property Course and
find out how Robert Gavin and his team can help YOU, go to:
