I had a client in my office the other day wanting to sell one of her investment properties.
Sally* had only owned the property for two years and it was performing well, so I was curious as to why she wished to sell it.
When she came in, she explained that she was having difficulty with her property manager and in turn her tenants. She had secured the property manager herself and had found the person increasingly difficult to work with.
So instead of dealing with the property manager, she had decided it was easier to sell the property instead, as she thought the situation was just too hard to deal with.
I told her plainly that selling her property was going to be a lot more work than simply talking to (or replacing) her currently property manager.
Then I explained that she was shooting herself in the foot by being uncommitted to her investment – that she was being a apathetic investor!
A apathetic investor is someone who isn’t proactive about his or her property investment portfolio.
By being uncommitted and inactive in regards your property portfolio, you will miss out big time in the long run.
If you are not proactive towards your investments, you will inadvertently pass up opportunities to make higher returns and give up early when you could see much higher capital growth.
If you want to be a successful property investor, you have to take ownership of the responsibility of your property portfolio.
In Sally’s case, she needed to better manage her property manager so that they in turn would manage the property effectively. She then would have realised right away if the person were underperforming.
By being proactive, Sally could have saved herself a lot of time, effort and stress that ultimately led her to the conclusion of selling her property.
If you put things in the ‘too hard basket’, life will get away on you. Similarly as a property investor, if you deem managing your portfolio ‘too hard’, you will be negatively affecting your wealth creation ability.
But if you simply don’t have the time or ability to proactively manage your investment properties, we can help.
At We Find Houses, we offer our clients a full service from finding and securing properties to engaging an effective property manager to manage your property.
You will have a whole team behind you, supporting you on those things that are too hard or you don’t have time for.
If you want to take control of your investment portfolio, ensuring that it’s appropriately managed and performing well, book in for a strategy session.
We Find Houses can help you proactively manage your portfolio, taking the stress out of seeing your investments grow.
Please call 1800 600 890 or email email@example.com to get started.
*The person’s name in this article has been changed for privacy reasons.
Paul Wilson is an Independent Property Investing Expert and the founder of We Find Houses, Educating Property Investors & We Find Finance. Paul has been educating and coaching investors since 2001. Paul provides valuable, independent guidance and support by teaching strategies on how you can invest successfully while protecting yourself from commission hungry sales agents and property spruikers. Protect yourself with knowledge, contact Paul today for a complimentary consultation on 1800 600 890 or email firstname.lastname@example.org
Read more expert advice articles by PaulDisclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.
- This article originally appeared on www.wefindhouses.com.au.