To design the life you want you need to start with the end in mind.
While this may sound obvious, you’d be surprised by how many people don’t give it a second thought. They decide it’s time to start building their wealth – maybe even through property, like you’re going to do – see a house for sale the next day, then take it as a sign to buy. The rush of excitement helps them ignore the fact that it’s in the wrong area, doesn’t have the desirable qualities that make it an in-demand rental… and meets none of the financial criteria required to make it a success.
The key to safe investing is to get things right from the beginning.
Just like elite athletes have goals and make a plan to train, train and then train some more, so too do successful wealth creators. They get a clear picture of the end goal in mind, then work out all the steps required for success – and that’s exactly how I work too. Honing in on a client’s ‘Why’ during our first meeting (what I call a Discovery Session) is one of the most critical stages for their long term prosperity.
This personal fact-finding mission is essential for every residential property investor and provides a clear path for your Australian real estate journey.
So, begin at the end. Find your end goal and work out what you need to do to get there.