Think about your life. What makes you happy?
Is it spending time with your family? Working? Travelling?
Whatever you love to do, one thing is certain…if you’re chained down to your job you’re going to be forced to make sacrifices.
Some of which you probably don’t want to make.
So how can you achieve success on your own terms?
By gaining financial independence.
Financial independence is the key to unlocking your options and a proven way to create financial independence is through investing in houses.
But if it were easy, everyone would be doing it, right?
Well a lot of us are.
As of 2011, the data show that 7.9% of Aussies own one investment property.
While that’s fantastic, you won’t achieve financial freedom by buying only one investment property.
The numbers of course can vary, but generally speaking you need five or more properties to gain financial freedom and enjoy what most would call success.
The truth is, despite the fact that so many Australians are investing in houses, only a small number of them own multiple properties; only .9%, according to RP Data and the Census.
Don’t let yourself get overwhelmed by everything you need to learn and do. As they say “Rome wasn’t built in a day” and neither is an investment property portfolio.
Define what you want
You need to know exactly what you want. Only then will you have the information you need to create your goals and establish a plan to reach them.
Create S.M.A.R.T. goals
A popular method of goal setting is to use a strategy known as S.M.A.R.T. (Smart, Measurable, Attainable, Realistic and Time-based).
Each of your goals should abide by this criteria.
Specific: Clearly defined. When you look at the goal it should indicate exactly what your next step should be.
Measurable: You should have some way of knowing how long it will take you to complete the goal. You should know exactly when you’ve reached your goal.
Attainable: You should have all of the resources you need to reach your goal.
Realistic: Your goal should fit within your abilities, resources, knowledge and time-frame.
Time-based: You should assign enough time to reach the goal, taking into account every possible hindrance. Don’t set the goal out so far ahead that it encourages procrastination. Bottom line, your goal should offer just a bit of a challenge, but remain very doable.
Anything worth doing is worth doing well, so invest time and resources to learn as much as you can about investing in houses.
Seek out quality advice and education based on the presenter’s experience and the results they’ve achieved for others.
Be careful, however not to get stuck in “analysis paralysis”. You have to actually buy property to make a go of it.
Success means different things to different people.
Once you’ve defined what it means to you, and crafted goals that align with your definition of success, you can get to work investing in houses.
Sometimes, however, it helps to get someone else on board with our investing efforts. We can get so tied up in our own situation that we often miss things that are blocking our success.
If your portfolio is going nowhere or you’re not sure how to get started investing in houses, find a mentor who can help you move forward.
It’s your life.
You can choose to maintain the “status quo” or you can shake things up and make the choice to build the life you want and deserve through investing in houses.
If you want more tips about your Property Investment strategy, book a FREE consultation with one of our expert Investment Coaches to discuss your situation and investing goals.
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