In the past three or so years that I have been writing this column I have on several occasions written about the importance of mindset to an investor. My more recent articles have perhaps not dwelt on the subject to the extent that earlier ones might have, and I feel that it is now time to redress that balance.
As I revealed in my column last month, it is perfectly possible to become a successful investor without much knowledge. In fact for some people, the less they know the better! It is much less common to come across a successful investor who does not have a positive attitude.
If you are one of the ‘underachievers’ described in another article, and want to get better results, a change of focus may be all that is needed. Focus on your future goals and do not dwell on all the perceived negatives, as this will sour your attitude. Remember, being successful is more about your resourcefulness than your present resources. If you doubt me then just go back and look at previous ‘Your Investment Property’ magazine ‘Investor of the Year’ winners and runners up. Investors like the most recent Winners of the Award, John & Renae. High school drop-outs who went to work part time in MacDonalds to earn some cash. They now have a property portfolio worth over $2m, all this achieved before Renae’s 22nd birthday and with two small children in tow. So your future success is not about whether or not you qualify for a loan at the moment, it is about how committed you are to achieving the long term goals that you have set for yourself. It is about changing your circumstances to suit your future goals, rather than changing your goals to suit your present circumstances. Even a small change in attitude can result in a big change in results. Happy investing.
Ian Hosking Richards is a successful property investor with a portfolio of over 30 properties. He is the CEO and founder of Rocket Property Group, a leading independent real estate agency that helps hundreds of people each year enter the property market or grow their existing portfolios.
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