As home loan brokers in the Rockingham area, we have had the opportunity to observe a lot of property investors. Over the years, it has been our privilege to watch a few develop from having one property to owning a portfolio that is setting them up to retire early and live a comfortable lifestyle.
What does it take to become a successful property investor? We have seen three traits in particular: drive, determination and the willingness to outsource as much of the time-draining tasks as possible, leaving them free to do what they do best.
Most small investors are working a full-time job and investing so that they won’t have to work full time forever. They have a bit of extra money or they are turning their superannuation funds into self-managed superannuation funds (SMSFs). They realise that they don’t have a lot of time to spend investing in property but they want to succeed.
For a person to make the sacrifices necessary to become a property investor while working full time, they have to be driven. They keep the future in mind while making sacrifices in the present. They spend time doing market research instead of watching TV. They put their money in the bank to save for a deposit instead of spending it on a new “toy.”
While drive is the engine that powers the successful investor, it is determination that keeps the foot on the accelerator and a firm hand on the steering wheel. If there is a bump in the road, the determined investor steers around it and evolves their road map as needed.
To get professional results, it is necessary to assemble a professional team. This includes a financial adviser, a mortgage broker, a solicitor, a tax professional and a property manager.
The bottom line: you save time and money by doing what you do best and letting professionals do what they do best.
Call (08) 9527 1800 to learn more.