by Rob Dix
The second key idea is that for most of us, property investment is only part of the picture when it comes to creating a better life for ourselves (whatever we take that to mean).
This isn’t true for everyone. Some people will be naturally gifted dealmakers, or work preternaturally hard, or conduct projects with such flair and imagination that they’re immensely profitable – and they’ll make an excellent living from property as a result.
For most of us though, property will only truly work for us as part of a general program of personal development. It involves having your personal finances in order so you’ve got funds to invest and are creditworthy. It involves being able to set realistic and meaningful goals, and making steady progress towards them despite the inevitable setbacks. It involves knowing yourself, so you can set a strategy that matches your skills and attitudes. It involves the flexibility to change tack when circumstances change. And it probably involves being a bit weird – having an individualistic streak that allows you to ignore what everyone else is doing, and having enough self-control to place your long-term interests ahead of immediate gratification to an unusual degree.
Consequently, being a successful property investor comes down to far more than making the right decision about whether to buy House A or Flat B. It’s about transforming yourself into a successful person in general, with property being just part of that equation. If that sounds a bit woo-woo or over-intellectualised… well, maybe it is. But I rarely encounter a successful investor who isn’t an impressive person more generally, and I don’t think that’s any kind of coincidence.
So there’s your challenge: be one of the few who takes action, work through everything we’ve covered in this book from start to finish, and end up financially comfortable as a result. I hope I’ve made it sound sufficiently difficult, because it is. But it’s a whole lot of fun too.
GET THE EXTRAS!
I’ve put together some totally free extras to cover important concepts that don’t quite lend themselves to “book” form.
All you need to do is register (for free), and you’ll get access to videos showing:
My step-by-step process for assessing a potential investment area
How to determine the value of a property
How to calculate the maximum price you can afford to pay for a property you’re planning to refurbish and sell
My method for setting goals, and the spreadsheet I use to do it
It’s all totally free with no strings attached – so for instant access, just sign up at propertygeek.net/extra.
