The first task on the table when I meet with new clients is to develop goals specific to their needs with my Top 7 residential property investment tips.
It’s a technique I’ve refined during my years in the business – knowing that without the ‘whys’ and ‘hows’ it’s hard to find the right path to Destination Freedom.
I use SMART goals when it comes to wealth creation, but I’ve upped the ante and added two essential extra steps. Now I know when people hear the word ‘goal’ it’s like hearing the word ‘budget’ – it can make them cringe and they know they’ll have to do some work. But believe me, it’s worthwhile considering these questions so you know exactly what your why, how, when is.
If you are a couple, you MUST do this together. If you’re not ‘on the same page’ then you’ll find the process challenging, particularly if there is a hiccup along the way (which there nearly always is) and then the person who wasn’t ‘on board’ will be unhappy about the process.
So here we go:
Specific – why invest in property?
Measurable – how can you achieve your goal?
Attainable – can you afford an investment property?
Relevant – top 10 macro and micro indicators of property investment for decision-making
Time-Specific – when to buy and how long to hold?
Evaluate – your plan and goals to invest in property
Repeat – secure your financial future with further residential investments
At Smarter Property Investing, we have the phrase, Be Free With 3 which equates to three properties will set you onto the path of financial freedom. By completing the ground work from the beginning, you will stay focused, on track and know how to make informed decisions when future opportunities arise.
A great place to start is by downloading one of our most popular eBooks Design the Life you Want which can help with your planning strategies. You can find it here.
As always, if you have any questions, leave a comment below.
Until next time,
From the desk of Christine.