10 good habits that you need to cultivate to succeed in your property investment journey. Learn from other successful investors and property experts who have succeeded in their property investments and follow their steps to become a successful property investor too.
Many people want to be financially free. I hear people say this all the time. But I always ask them these questions. So what are you doing about it? Have you got a plan on how you’re going to get there? When is your target date? How much are you planning to make and what do you need to do reach that goal? They have simply no idea. So,
it will just be a dream.
Similarly, the road to a successful journey in property investment is never easy. Whoever said that making your millions in property is easy? If yes, then everyone you meet is a property millionaire. You will meet negative colleagues, relatives, friends, spouse or kids who will discourage you. But believe in your dreams and goals that you have set up for yourself and you can make that dream a reality. Cultivate these habits below if you want to be a successful property investor:-
1. Have Goals And Set Datelines
Setting realistic goals and datelines is crucial for any type of business as it guides your focus and action towards attaining the targets that you’ve set. Review the goals periodically to check where you are towards attaining them and revise them where necessary.
2. Invest In Yourself
- Read Lots Of Property Books, Magazines And Articles
- Listen To Audios On Property Investments
- Attend Property Seminars And Exhibitions
Invest in educating yourself with the right knowledge to minimize the mistakes in property investments. I often hear people say, the seminar courses are too expensive, but yet they can afford to buy a new car, a new home theater set, go for a holiday or buy some lifestyle product that will be a liability rather than investing in educating themselves to achieve their dreams.
3. Take Immediate Action
Successful property investors are Action Takers! They make things happen. After they have gained the right knowledge about property investments from attending property seminars, reading property investment books and getting to know other successful property investors, they take immediate action to research for the properties they intend to invest in.
4. Willing To Make Sacrifices To View Properties
Go and view as many properties as possible in the areas that you wish to target. Jot down your observations in your notebook and compare them before you zoom down to a handful of potential ones. Take a drive to view the properties during different times of the day to notice any significant observations in the vicinity or surrounding areas near your targeted property. For example, I noticed that the road leading to a particular condominium in the evenings is congested with cars parked on the right and left of the road due to shortage of car parks making the access road difficult to drive through which was fine when I went during the afternoon.
5. Invest With A Calculator, Not With Your Heart
Don’t let your emotions affect your decision when buying a property. Instead, use a calculator to compute the potential returns and gains based on the property prices offered by the seller or developer. Calculate the price per square foot/meter of your targeted property and compare it with other properties of similar types in the same location (ideally). Look at the numbers to see if you’re getting a good deal from the property before investing.
Stay tuned for my next article for the rest of the habits of a successful property investor…
