5 steps to Achieving Property Investing SuccessIt is estimated that well over 90% of the World's richest people have become wealthy through investing in property. On top of this, a large proportion of the rest of the World's richest people, who didn't originally make their wealth through property investing, now use property investing as their main investment vehicle to protect their wealth or increase it further.
This article will teach you 5 steps to property investing success. After reading it you should have a better understanding of what it takes to become wealthy through property and what sort of sacrifices you will have to make to get there.
1. Make better use of your time. What do you currently spend most of your time doing? Most people spend the biggest part of their time either at working or sleeping. In fact, including the commute to work, many people spend about 18 hours of every working day doing these activities. However, what they do with the other 6 hours and what they do with their days off (assuming they have that luxury) is what holds the key to their property investing success.
You might do vital things like get time with your family, but what about things like watching T.V. or playing video games, or even going down the pub. If you sat down with a pen and paper and wrote down how much time you spend on these, none essential activities, you might be surprised at how much time you are wasting that could be spent doing other things, such as learning about money making or actively investing in property. Including the weekends, many people spend about 18 hours a week, watching T.V. If you could cut this down to about 5 hours a week, it could have a massive impact on your life.
Successful people generally don't spend every afternoon, sat glued to watching Eastenders. Do you really think that this is how Richard Branson or Philip Green spends their time?
Cut down on the amount of time you spend doing things that have no real benefit to your future happiness, and instead invest this time on more productive activities, such as learning how to achieve property investing success.
2. Make your money work for you. If you are used to getting paid an hourly or a daily rate, then the chances are you are probably not very wealthy. The wealthiest people in the World do not generally get paid an hourly rate. They master how to get their money to work for them so that even while they are sleeping they are accumulating wealth. This is perhaps the most important thing you can learn to get yourself out of the rat race and into the life you desire.
3. Set goals. Setting goals is crucial to your success. If you don't set goals you will be aimlessly wondering through life. There is a small chance you might be successful, but if you set goals you are much more likely to be even more successful. You need to plan where you want to go and what you want to do. On top of this you need to understand why you want to achieve what you want to achieve.
4. Strategy. Setting you goals will set out what you want to achieve, but planning your strategy will tell you exactly, HOW you are going to achieve it. Goals are useless without a strategy of how to achieve them. When you plan your strategy you need to plan down to the nth degree and have back up plans that will mean if something unforeseen happens, you can still overcome it and meet your goals.
5. Mix with the right people. This can be online through property forums or in person at property networking events or any other way you can think of. It is vital to your investing success that you mix with people that have similar goals to you and/or that have already achieved what you want to achieve. You might find that most of your friends tell you that there is no longer money in property and to give it up. The only way you are going to be able to continue to believe in the face of negativity from those who care for you is if you have proof around you of those that have succeeded and continue to do so.
It still is, and perhaps always will be, possible to achieve property investing success. This success is available to anyone who is prepared to follow the steps and make the sacrifices today that will insure their future tomorrow.
About the Author:
Carlton Johnson, is a well known author and webmaster who specialises in helping people achieve financial freedom through property investing. To learn more about how to achieve property investing success visit the www.investment-property-guru.com website