There are no hard and fast rules when it comes to property investing and renovating and the answer you will often hear when you ask the question of should I get into property is “It depends”.
It depends on what stage of your life you are in, what your goals are, what skills you have, how much time you have, what your risk profile is and what your financial circumstances are.
It is never too late or too early to start building your property portfolio so long as you are clear on your why:
- Gen Y may want to get a foot in the property door
- Gen X may want to accumulate and build wealth
- Baby Boomers may want to set themselves up for a comfortable retirement.
Once you have your why clear the next step to ensuring property investing success regardless of your age or circumstances, is to have the right mindset and focus.
When it comes to wealth creation through property investment, a financially independent person puts a high value on wealth. They have a higher than average probability of success because they think about investments, they focus on it, they study it.
The Block contestants Kyal & Kara will join me to show you how to ensure you have the right mindset and some simple strategies so you can buy, renovate and sell properties successfully.
What separates the dreamers and the doers is this value they place on prioritising wealth creation ‚Äì they will be studying it, they will be reading magazines and newspapers and keeping current with what’s going on.
Importantly they also make sure they are associating with people who are already farther along the pathway and can mentor them and they place more emphasis on their long-term vision than immediate gratification, they aren’t looking for a quick buck.
If you want to sharpen your investing knowledge and skills I invite you to the next genXwomen function on Tuesday, 10 June 2014 at 5.15 at Harper Property Agents.
Bookings essential online.