Thank you for your curiosity about what the six steps are to your life as a Property Investing. As an active investor I know it’s not about the property itself, it’s about the dream. Property is just the express bus to financial independence, to wealth and to creating a lifestyle full of freedom, choice and the ability to do what you love.
Have you actually taken the time to ask yourself what financial freedom means to you? Is it having enough money to pay for a fabulous lifestyle, is it having enough income producing assets so you never have to worry about money again? Is it having enough money so you can quit your job, so you too have the time to discover your divine purpose, do what you love for a living and contribute your message, your cause Extra Update.
For me it’s empowering women in their finances, which is a catalyst for empowerment in all other areas of their lives. So they too can become financially free, to take of the mask they wear every day and to stand in their feminine energy, become authentic and inspired to share their unique message, their gift, their purpose with the world.
There are so many great property programs in the market place today from successful investors teaching people how to invest, yet only 10% of people who invest time and money in these programs will take action and actually buy a property. Why is that? I realised that 80% of investing is psychology or the right mindset and only 20% is the actual investing. This is why the market has created a need for Property Empowerment.
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After going through the process myself for a third time, it occurred to me that buying an investment property can be a very daunting, costly and time consuming process, when navigating it alone. It’s no wonder that only approx 5% of property investors buy more one or two properties and only a staggering 1% retire financially free on with more than five.
It also occurred to me that many women, regardless of how committed they are, might be put off by the uncertainty and the contradictory information available. They give in to the fear of making a mistake and allow themselves to be swayed by the well meaning dream stealers to not only give up the challenge, but all the dreams that go with it.
So to make your venture into property investing by following my six step program. It’s about creating the right environment and the right mastermind team of active investors who specialise in residential property investing. Leveraging against their combined experience and knowledge to help you on your journey to property wealth and success.
Whilst you engage a team of experts, you must however, always remain ‘in charge’ of your property investing business. Lay a solid foundation for success by empowering your mindset as the most vital first step, then educate yourself in the basics of property, finance, tax and structure. Once you have a sound knowledge of the above, you can leverage against the knowledge and resources of relevant experts to make it happen quickly and efficiently.
The 6 Step Property Program Includes:
Step 1: Creating an Empowered Investor Mindset
Step 2: Education and Information
Step 3: Finance Strategy
Step 4: Portfolio Structure
Step 5: Property Purchase
Step 6: Property Conveyancing
Step 1. Creating an Empowered Investor Mindset
The first and most vital step in becoming a successful property investor is having the right mindset. Successful investing is 80% mindset or psychology and only 20% strategy, which in our case is residential properties. The market proves this to be true over and over again with all the failed property investors who thought it was just about buying a house.
The Oxford Dictionary defines “mindset” as a habitual way of thinking. It has also been described as an attitude, disposition or mood; an intention or inclination. I think this is a very fair description. Having the right attitude about property investing or any other aspect of your life to the point where it becomes a “habit” or behaviour is vital for your consistency, determination and eventual success.
You must empower your mindset with specific regard to your values, decisions and beliefs around money and investing. Work with an coach to identify and work with your unconscious values in quite some detail to ascertain whether creating wealth is something you value and whether you are motivated toward a desire for abundance or away from your fear of scarcity and lack. If creating wealth is not a an unconscious value, no matter how hard your consciously try, you will not succeed.
Work with a qualified Neuro Linguistic Programming (NLP) coach who specialises in finance or wealth creation and with their many tools, identify and eradicate any deeply held decisions and limiting beliefs that have unknowingly held you back in the past. Then instil new, more empowering beliefs and lock them all into place using targeted goal setting and visualisations.
I am so grateful to Christopher Howard’s Breakthrough to Success weekend and his subsequent Fast Track trainings for introducing me to the tools that changed not only my life, but the lives of my family and now my clients. Now, I don’t want you to start blaming me if when you make these changes in your thoughts about money and wealth, how you also start to notice changes in attitudes and improvements in other areas of your life, like your health, career or relationships 😀
Step 2. Education and Information
Once you have the success mindset of champions it’s time to head into the classroom to learn about Property, Structure and Finance. Although this is when you will leverage the time, knowledge and expertise of many experts throughout the program, it is essential that YOU remain in charge of our property investing business.
You need to treat every investment property, with its income and expenses, as though it were a stand-alone business with you as the Director. You don’t need to be an expert in all aspects of investing, but it is important to be educated and well informed.
You must understand the basic concepts of property, finance and structure so you can both understand and communicate with the experts in these specific areas of your investing. Get educated in such topics as property basics including property selection criteria and the Wealth Creation Strategy. Look into the basic principles of company and trust structures and which is best suited to your personal circumstances. Look into the multitude of investment mortgage options, the principals of each and shortlist which will suit your current financial and investing situation best.
Researching and becoming informed will not only increase your financial and property vocabulary but will give you a very sound understanding of property investing, saving you time and money when eventually dealing with the relevant experts. Do not however, use the excuse of lack of knowledge and not knowing enough, to get stuck in analysis paralysis, know when to say enough is enough and get started. You never stop learning about investing, so expect that you will learn along the way.
Step 3. Finance Strategy
Now that you have a successful investor mindset and a good basic understanding of property, structure and finance it’s time to look in detail at your overall finance strategy which can make or break your success as an investor. With the expert guidance and advice of a finance broker who specialises in investing, not mum and dad mortgages, firstly review the mortgage on your existing home (if any) with the aim of refinancing and releasing equity to be used as a deposit and a buffer for your first investment property.
Then with your shortlist, look at the best option according to your particular financial situation for financing your new investment property. Once you have chosen the best option, formally gain pre-approval or approval in principal for your future investment property, before moving to the next step.