I recently read that 8/10 millionaires made their millions through real estate. Whether this statistic is entirely true or not, I don’t know. However, what I do know is that A LOT of people have made their millions from property. In fact, I would even go so far as saying that more millionaires are created from investing in property than any other industry.
If you are interested in obtaining a good passive income, then I would definitely recommend you consider property as one of your strategies for wealth creation.
But be warned, property investing is not a short term get rich quick scheme. Done properly and with guidance, you will gain:
• Amazing capital growth – your portfolio will increase by £100,000’s a year.
• Great cash flow – you will obtain an amazing monthly passive income.
• A legacy to pass down to future generations.
If you are seriously considering property investment as a career choice, please note that you need to look at it as more than just a hobby. In other words, you need be put some effort in for it to work. If you do only look at property as a hobby, you will only ever achieve hobby profits. Your dreams of earning millions from property will remain just that – dreams!
Property investment, like any business, is a serious business and you need to start investing with the right attitude. Working just one day a week on this business is simply not enough especially when you’re starting out. I’ve known a lot of people who have started investing in property only to fail miserably purely because they expected too much in too short a time.
So how do you become a serious property investor? Simple.
As a minimum, you need the following three traits to succeed
• Knowledge
This can be obtained from mentors, books and seminars. To do well in any business, you don’t just need specialised knowledge but will also need to develop yourself personally.
I would encourage you to attend personal development events to help you to move forward quickly.
• Personal Motivation
You need to be motivated to do well any aspect of your life. A lot of people fail because they give up too soon! They try one or two techniques recommended to them, find they don’t work and decide property investment doesn’t work!
Model yourself on a successful property investor that you know. Keep going and don’t give up.
• A Team
To do well in property investment by your self is almost impossible. All successful property investors that I know have built a team of clever people around them. You need to do this also.
As a minimum you need access to good solicitors, accountants, financiers, builders, other property investors and finders. Become a prolific networker, show people that you are a doer and expect results in your business and allow like minded people to join you in helping you to grow your business.
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