There are three types of property investors
Over my years in helping people achieve passive income through property investment, and being involved with millions of dollars of transactions, I have seen a range of buying emotions. I’ve deduced there are three types of property buyers!
Active Buyers – these people have a practical and positive approach, take the initiative and seek out best deals by following a proven research system.
They are regularly looking at their financial position and willing to learn how to calculate the returns and mitigate the risks.
They expect the property to perform well and review the rents at least yearly. As soon as they have some equity or additional cash they are looking to expand their portfolio through leaning of predictable suburb selection criteria.
Reactive Buyers – these buyers take action only when prompted and realise often too late that to achieve their financial goals they should have started 10 years ago.
They are waiting for that “perfect” time when the market is down to buy. Reactive buyers often suffer from “paralysis of analysis” and don’t invest in their education to follow a proven suburb and property selection system.
They are ‘hero’ investors that try to do everything themselves, and sometime fail.
Passive Buyers – these buyers sit on sidelines and watch others make money, thinking they should do something but lack the motivation to get going.
They are less trusting of others and need proof that property investing actually works. They are wary of property success stories and believe the world is full of sharks ready to eat them alive.
They are overly frugal with money but still want to achieve financial security.
Which one best describes you?
What are your property goals and when do you want to finally start? Do you want to create a portfolio of 5-7 properties that pays you $120,000 per year and provides financial independence?
Perhaps it’s all very overwhelming.
The reality is that to achieve any worthwhile goal you have to follow a proven path.