You have to plan to succeed in property, you have to have a plan set in stone of how you are going to be successful. It isn’t enough to solely have a goal; you have to have a detailed plan on how to achieve that goal.
Let me try and make something clear. If you have the true inner self belief that you can reach 100 properties in 1 ½ years, then fantastic; however, for most people that haven’t bought their first property yet this goal is too lofty, it is more of a dream than a goal and they lack the inner belief to really make it happen.
It would be better for most people to start to plan to succeed in property with a small goal, something that they can truly plan for and see happening, and then as their confidence and inner belief grows then their goal can grow also.
Let’s have an example:
Jane dreams of buying 50 properties this year, yet up until now she has only ever bought three and it took her two years to buy those. Is Jane’s goal too high? Well it is impossible to say without really knowing more about Jane and why it was she had only bought three properties up until now and whether she has suddenly gained more resources that might allow her to achieve this goal.
However, if she wants to stand the best chance to succeed in property investing, then the first thing Jane needs to do before she sets her goal in stone is to plan how she is going to achieve this goal. Exactly what resources does she have already at hand? So if the goal she wants to set is 50 properties this year – does the resources she has at her disposal allow her to do this.
- Does Jane have a marketing campaign up and running that will bring her a few hundred deals a month to analyse?
- Does she have at least one (preferable more) excellent solicitor and mortgage brokers that have a proven record of being able to move quickly on deals?
- Does she know how she is going to finance these deals?
- Does she have a team of people she can call on for advise that have already been there and done that and own more than 50 properties?
- Does she have the time to deal with all the deals she is going to have to look at?
- Does she need to use a finder or some other means of getting other people to bring her deals?
- Does she have enough, or the right, property education to deal with this amount of properties?
These are just a few of the starting questions Jane needs to explore if she wants to succeed in property. If the answer is negative to any of these questions, does she have a contingency plan put in place to deal with any issues and turn a no answer into a yes? For instance, if she doesn’t have a marketing campaign set up that can bring her a few hundred deals a month, can she get one set up?
If Jane keeps asking herself these questions and she can’t come up with a solution it is a sure sign that she is setting herself up for failure. It would be better for Jane to go through the questions honestly and see what she can do or improve on. Jane can then make a realistic goal based on that.
Jane still needs to push herself. So if she feels comfortable with saying 8 properties is her goal she should have another look at the questions and see if she can improve in any area.
Maybe she can increase her marketing with minimal extra cost by just setting up a BMV website that she refers people to through a cheap advert in the local newspaper. Whatever route Jane chooses to take it is imperative that to succeed in property she is flexible and focused
If you really want to succeed in property then you need to insure that you don’t make the same mistakes that others have made before you, take a browse around our site here to learn how to make sure you make all the right decisions in your property investments.**Nothing on this website should be confused with financial or legal advice. If you need this, or any other type of advice, please seek the help of a competent professional. In addition, because real estate laws change all the time and differ from state to state, and even city to city in the same state, everything in these pages should be considered general marketing advice and ideas. Please see link to full Disclaimer at the bottom of this page.