Are you a "cross-breed" property investor?
I’ve been a ‘property investor’ for over 10 years and been involved in business for 5 years.
Here’s what I’ve learned: it’s all about decision making. Knowing how to prioritise and make trade-off decisions.
It’s finding a balance between two extremes:
1) Not making decisions fast enough due to paralysis and over analysis. This is what I commonly refer to as over-thinking these types investors are perfectionists.
2) Not doing enough due diligence and investing on hope, this leads to poor decision making and is often based on instant gratification.
The problem that I have observed with most property investors is that they are jammed on either extremes.
They are either scrappy and operate on instant gratification and quick wins or a perfectionist who over analyse everything to the finest detail.
Both of these types of property investors fail.
Whenever I have failed it’s because I have a tendency at times to be too much of a perfectionist. What I have come to realise is this:
The fast-scrappy property investors who don’t understand or analysis the 30-40 macro & micro factors that make a good deal, and invest on hope, buy properties quickly. They APPEAR immediate winners.
But the slow perfectionist investors overtake the not so thorough investors later on towards the end of the race.
The best analogy that I can use here is the race between the tortoise and the hare.
So, what I have come to the conclusion of is this:
The property investors who become a cross breed between the tortoise and the hare WIN. This kind of specimen is rare. This type of species is savage.
When they need to be, they are the perfectionist and fill in every blank with extreme detail, on the contrary they can also be extremely scrappy when they have to be. They have a unique ability to choose the correct balance or extreme in every situation.
If you want to survive as a property investor and WIN you must become the perfectionist AND the scrappy animal, you must cross pollinate between the tortoise and the hare!
So, if you’re serious about growing a property portfolio and WINNING you must first learn how to survive!
It’s tougher than you may think and certainly is not as easy as everyone else is promoting out there.
The truth is the above, this is the cold harsh truth of someone who lives being an property investor every day constantly switching between the tortoise and the hare.
At times, I have been a culprit of getting caught on each side – it’s not easy but you must practice it daily!
Want to learn how to become a cross breed of the tortoise and the hare so you can WIN?