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It’s easy to get caught up in the excitement that is property investing. The idea that you could use an investment property to increase your wealth is an
easily understood idea. It’s tangible and it seems so ‘easy’.
Well, the concept may be easy but the execution is another animal altogether.
Myth #1 – Get Rich Quick
An unfortunate by-product of the property investing industry is the spruikers who will lie to get your business, telling you that you’ll be an overnight
millionaire if you just buy their product.
There is no “overnight millionaire” when it comes to property investing. The sooner you embrace that fact the sooner you can create realistic goals that
will lead you to millionaire status over time.
I’ve been investing in property for a long time and I’ve yet to see a “get rich quick” scheme that is truly successful. Even if you’re able to make a lot
of money in a short amount of time it’s not sustainable.
Think about it. The majority of lottery winners blow all of their winnings in a very short amount of time. A better means of wealth creation is sure and
steady, growing both your investment portfolio and your aptitude in dealing with a large amount of assets concurrently. This is your best chance at
continued success in property investing.
Myth #2 – I Need Good Luck
Luck doesn’t truly exist. You create your own opportunities. The choices you make are a direct result of your own internal vision. See yourself as poor -
your vision becomes a reality because you make the choices that take you to that existence.
Flip that over and begin to see yourself as wealthy. Surround yourself with like-minded individuals who can mentor you, encouraging you to make those
choices that will lead you closer to the vision of prosperity that you have created for yourself.
Even if circumstances outside of your control take every dime you have, you can still make choices that will take you where you want to be. Your actions
will either lead you closer to or further away from opportunities to change your life.
Myth #3 – You Can Get Into Property With No Money Down
“No money down” is not possible. Money must always exchange hands in a property investing transaction, the only concern is where that money comes from.
You will need money from somewhere – the banks, your own back pocket or money partners. It’s vital that you have the capital to finish your property
investing transaction, so don’t enter into a deal unless you’ve got the money – or access to the money – to close it.
Myth #4: “After a workshop, I’ll be ready to invest on my own.”
We never stop learning – even if we don’t actively choose to do so. Have you recently purchased a smartphone or other electronic device? Did you know how
to operate it before you bought it? If not, then you obviously had to learn how to use it, right?
The same concept can be applied to property investing. Even if you’ve already bought an investment property – or even two or more properties – it doesn’t
mean you can sit back and not learn another thing. I’ve been investing for many years and I still learn something new – every day.
At Positive Real Estate, we offer a lifetime mentoring program precisely because there is always something to learn about property investing. Our mentoring
clients (and their families) have access to a huge repository of property investing knowledge and one on one mentoring with an experienced property coach.
All of this for a single payment with no ongoing fees!
To find out more about the mentoring program, come along to our Property Investor Nights. Held
across the country in all major capital cities, these free events are hosted by our experienced property coaches. You’ll learn how you can pay off your
mortgage more quickly, create a six figure passive wealth income stream and much, much more. It’s quick and easy to sign-up, so take your first step on a
sustainable investment journey.