Have you noticed that some people rise to the top of their chosen field, while others are average performers? What is the difference between those that achieve greatness in property investment and the rest?
In the 1990’s Stephen R. Covey wrote the modern-day business classic, ‘The 7 Habits of Highly Effective People’. While the book is a must read for those striving to achieve their business goals, the content within also translates directly with what it takes to become a successful Property Investor.
Seven habits is a big ask to have when you first start out in Property Investment, so we are going to focus on the top 3 essential habits required to successfully get started as a first time investor.
Habit 1 – Be Proactive
We all like to think we are being proactive, but how much of our life is actually spent being reactive. We exercise because we’ve put on a few kilos, we change our route to work because there’s roadworks and we invest in property because the media is telling us ‘now is the time to buy’.
Usually by the time we react to whatever has caused us to act, we have already missed a great opportunity. We have become a passenger to our own goals, letting the events we are reacting to drive where we go.
In order to be successful we need to take the drivers seat.
If you want to invest in property the time to start is now. This doesn’t mean you need to go out and buy something tomorrow. It just means you need to start your journey. A small step in the direction you want to go is better than no step at all.
Speaking to a financial adviser, finance broker or meeting with an expert in investment and development construction at Ventura iD could be your first proactive step to mapping out your journey forward.
Habit 2 – Start with the end in mind
Staying on the right track is always easier if you know where you are headed in the first place. Consider this the ‘Google maps’ of successful Property Investment. If you know the destination you want to arrive at, and the stops along the way, you will develop a strong and direct path forward.
The key to blocking out distractions that can inhibit forward momentum or set you on the wrong track, is to have a solid plan in the first place. This is not as hard as you may think and speaking to someone who is experienced in Property Investment can assist you in your journey.
Once you have a plan you need to follow it and not be influenced by what other sources are reporting. Long term investment goals that are considered are generally achievable when an investor perseveres with their plan. Try to avoid noise from friends or family that are not on your journey, as your goals are not aligned with theirs and their opinion may not be informed.
Habit 3 – Put First Things First
Once you have outlined the goals you want to achieve through Property Investment, the next step is to prioritize your actions. Sometimes it is the big things that consume the most time and are unrewarding, so we may be influenced to focus on smaller tasks to feel like we’re moving forward.
Ventura iD and Multi Living Developments offer a free consultation service so you can see if developing is an option for you. Call (08) 9241 1600.