Get clear on your strategy
It is true that almost anyone can make a success in property, but only if you have the right strategy for your own unique situation, experiences levels, time & cash available & vision & values. You should not chase areas or just jump on the next big thing.
For now you can use this series of questions to help you gain clarity & focus on getting started, & for us to be able to suggest bespoke strategies that are most likely to work for you. Because there are many strategies property can be rewarding but also overwhelming, the answers to these are important to you to save wasted time, money, confusion & to stop you from comparing yourself to others:
- Where do you live (& if different where will you be based for the foreseeable future)
- What is your experience & education level inc. Courses, books etc?
- What’s your current job/career/vocation?
- What’s your vision, reason for doing property?
- Do you aspire to replace your job/vocation with property, or have property support another passion?
- How many properties do you currently have and what is your current net cashflow?
- How much cash do you have access to?
- What is the net cashflow amount required and target date to achieve this?
- How much time can you realistically invest into property and commit to?
- What’s your strategy system?
- Do you have any physical, financial or other constraints or history that could affect you?
- Are you more interested/need capital (long term) or income (short term)?
- What 5-7 things are most important to you in your life?
- What do you consider your strengths & weaknesses?
Co-Founder, Progressive Property
Property speech world record holder (motor mouth)
7 Times Best Selling Property Author
Proud Dad, average Golfer & slightly better Pilot
Author of Life Leverage & “The Disruptive Entrepreneur” Podcast