There’s no doubting it – Australians love property.
For many of us, this is because real estate represents much more than simply a place to sleep and eat; it represents the opportunity to create financial freedom and real, lasting wealth.
As an investor, I have personally built a multi-million dollar portfolio through real estate and more importantly as a mentor, I have guided countless Australians towards creating their own lasting wealth, too.
It’s important to understand however that there’s no real way to ‘get rich quick’ through real estate. The truth is – and this is something you’ve probably learnt for yourself by now – that it takes an investment of time, effort, money and sheer determination to create wealth through property.
If you are genuinely committed to changing your life and creating real wealth through real estate and you’re prepared to put in the hard yards, then your goals are absolutely within reach.
The best way to streamline this process, as you know, is by developing your own personalised investment strategy.
Your investment strategy acts as a step-by-step process to help you to create a 'road map' that will guide your decisions. It allows you to sort through all the clutter so you can find property investments that suit you, your budget and your lifestyle.
But your investment strategy is not a ‘set and forget’ situation. Your strategy will need to be reviewed, tweaked, revised and from time to time, you may even need to scrap it and start again.
Why? This is because your own situation will change over time. You’ll change jobs. Your income level will change. You may expand your family. All of these transitions can impact your finances and your view of the future.
Before you consider buying your next investment property, I urge you to work on your personalised investment strategy. Even if it’s only been six months since you last visited it, it’s worthwhile reviewing it one more time, so you can make the smartest choices for your situation that result in the most profits in your property portfolio.
‘Til next time, happy investing!
Helen Collier-Kogtevs is the Managing Director of Real Wealth Australia, a leading education and mentoring company for real estate investors. Not only is she a highly successful property investor and an educator, but also a best-selling author, and a philanthropist.
Helen is particularly passionate about helping people, especially people who are keen to create wealth and make a difference in their lives, and she has been mentoring thousands of new and experienced investors in their pursuit of wealth creation through property.
She founded Real Wealth Australia to mentor investors create wealth and financial freedom by focusing on helping them build an investment strategy to fit their individual goals, rather than focusing on one particular investing method using her successful “10 Properties in 10 Years™” system.
Disclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.