It’s Dr Ro here I hope you’re well.
I want to talk about the subject of real estate property investing and the reason for that is because one of the things I’m seeing at the moment and don’t get me wrong, it’s been going on for a long time in all the years I’ve been teaching and going out around the world in helping people to invest in property investing.
I think a common question comes up is, is this the right time to get in or should we wait?
Is there like a perfect time to get into property?
Yes, there is the perfect time now, and they go, but what about this? What about interest rates, economy, et cetera well, the thing is, there are two types of investors there’s professionals and amateurs.
Amateurs tend to chase the shiny coin and get in on a whim as they thought it might be a good idea. Somebody told them they should get into real estate, they may have watched something like Martin Robert Homes under the hammer. Or they kind of swing the other side, they realise they need to operate as a professional property investor and they do it with a very specific structure a plan, an action that’s going to get them forward. Martin and I were talking about this this morning that it’s so important as a property investor to have the right path.
The right steps in place to make sure that you don’t mess up, if anybody’s been out and tampered around with property over the years, you might have had some bad experiences you can on occasions have a good deal. I get a lot of people that went into property one went right and then one went okay and one went wrong, and they said oh gosh I don’t want to make a mistake.
They didn’t have a structure or system in place and there are several things to consider. It’s 2021, here is my basic fundamental message. Start looking at this as a business. Don’t treat this as something you might have a go at on the side you and your husband or wife want to give it a go.
Don’t think of it as buying a property. Think of it as building a future, building a business, creating long-term wealth. Don’t think of this as a three, four, five month plan think of this is as a two to five year plan and certainly when I’m teaching people I run three day intensive event and we set people targets of between two to three years to be able to step back from their job, their career, their business with the choice then to be able to full-time, financially independent.
That means having a passive income or a mixture of passive and active income coming in on a regular basis that supports their lifestyle. There are four things I want you to consider: do you want to get going now, or do you want to wait for the next perfect opportunity and what is a perfect opportunity?
Is it when interest rates are higher, surely not because they’re about as low as you can get. Is it when you think maybe the newspapers telling us now is the time to get into the market? Is it when the weather conditions are correct and we should wait till the summer? Is it when you’ve got available cash to get done every single deal? Maybe when your job prospects are better.
Maybe when you’re feeling a bit healthier. Maybe when the time is right, there are all these things that people come up with as excuses, they call them reasons but actually they’re excuses that stop them getting into real estate. This is the right time and you know what the thing about getting a quick start is you have to create some sort of momentum to be able to steer yourself. You cannot steer a static vehicle. You have to physically be moving the vehicle before you can actually steer in a different direction. So let’s get that going now.
Those of you who are excited and want to get going find out more. What are your options? People say I’m putting this off as I’m looking at other options. Okay, so what are they?
A salary rise, well that is not for financial independence it just means that you work per hour for slightly more but you’ve still a limited number of hours. The beautiful thing about real estate property investing is you put the work in once and it pays you for life if you buy an investment that produces a passive income. Imagine in two, three years’ time, five years’ time getting paid on a property you bought now in 2021, whereas in a job and put the work in once you get paid but working again you get paid each time and when you stop working you stop receiving an income from that job. So look at other options trading the stock market.
Yes, get yourself skilled up to do it properly and even then allow yourself a lot of time to get consistent. I believe it works. I think that you have to realise that it is something you also have to educate yourself on as well. Starting an online business are things. I’ll do Amazon business.
Again, a lot of people are trying it. It’s not asset-based income until I’m talking about asset-based income when you build long-term wealth by buying assets that go up in value and create positive cash flow as well. Think about the different options right now. Property is a viable option there are so many different strategies as well. You’ve got to deal with the mental blocks, 85-90% of this is actually how you manage this up here how it needs to be put in place. But even if you don’t know how adversity comes along, it’s how you deal with that.
So my recommendation is at least educate yourself to find out what the options are available to you. In other words, what strategies are available to you in the property business?
What about income strategies?
There are multiple income strategies, cash strategies.
Well, there are actually multiple cash strategies. One deal might produce more than a whole year with the salary for your income on a property could be 1,000 to 3,000 to £200 a month per property.
Understanding all these things is especially important because if you overcome the mental blocks then it’s looking at my funds and that is another reason people say they can’t get going. I don’t have the money to get into property well, there are property strategies when you don’t need to have a lot of money to get going.
You don’t have to control the property you control a contract, and the contract allows you to generate an income without physically having to own property and that could be a couple hundred pounds a month or thousand pounds a month or more per property, depending on the type of deal you look at.
Also when it comes to funds you may have enough money to do the deposit on the property. So, what if you could raise money when I teach people I show them how to raise money separately that might enable you for example to do renovation projects as well. You’ve got to start to think differently.
Don’t allow your old beliefs or blocks and the old system of thinking to stop you having an incredible financial future, do something radically different today.
It’s going to change your destination, your destiny, it will give you an opportunity to be financially secure. That was a very motivational message from me to you, hopefully it was useful.
Dr Ro signing out again don’t wait, don’t hesitate now is the time to start looking at expanding your mind and your wealth and property is a great deal to be doing that particularly now in 2021.
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