Regardless if you’ve started investing or it is something you are looking in to, your psychology will be playing a role in how you approach your wealth creation.
We meet many people who say they want to build wealth with property, a favourite asset class for the majority – but who actually don’t purchase because of their current mindset. So it’s an interesting question. What are your thoughts?
Are you scared people will judge you, come and steal from you, be jealous? Perhaps in the back of your mind you’re wondering if it will really work. Maybe you’ve heard stories from people who have had a bad experience and are telling you that you’d be crazy to invest.
Fear is a very natural part of being human and the number one reason most people don’t do things. Fear is a learned belief and you must ask yourself “is it serving me?” And if it’s not, you need to find a way to work through that.
Letting go of fear does not mean that we are not vulnerable or fearful but rather means that we are aware of our feelings, and we do it anyway.
Here at CPG we find education helps, discussing your concerns with someone who has been on the journey is good and we know that understanding the numbers and what is involved can also be beneficial.
One of the common things we hear from clients who do actually purchase property is how relieved they are that they’ve taken steps to create financial security for themselves, and hopefully some financial freedom too.
What 3 Things Can you Do?
1. Learn From Those Who’ve Done It
No matter where you are on your financial journey you need to know it is possible to turn your financial life around. Making small changes in your life can fatten your savings, help you budget better and achieve greater success financially.
Research shows that 85% of wealthy people read two or more education, career-related, or self-improvement books per month.
We’ve highlighted some of the best books about managing your money and achieving wealth out there, from expert-recommended classics to some of our favourites. Discover our favourites HERE.
2. Create Success Habits
In the 1990’s, management guru Dr. Stephen Covey explained what he believed to be the defining characteristics that distinguish ‘highly effective people’ in his book The Seven Habits of Highly Effective People. This book has become a modern-day business classic.
Not surprisingly the 7 habits Covey suggests we should aspire to if we want to replicate the achievements of others are also very important to the business of property investment.
Find out our top 10 habits of a successful investor HERE.
3.Work With A Mentor
Are you surrounding yourself with inspirational people, people who encourage and support you, people who elevate your thinking, your performance? Jim Rohn says ‘We are the average of the 5 people we spend the most time with’. This relates to the law of averages, which is the theory that the result of any given situation will be the average of all outcomes.
When it comes to relationships, we are greatly influenced (whether we like it or not) by those closest to us – it affects our way of thinking, our self-esteem, and our decisions. It’s common for those building wealth to underestimate the importance of the company they keep.
Here’s the kicker… Critiquing those around you may sound ruthless, but understanding their influence on your performance is critical to your success. As someone who is wanting to create a better lifestyle financially, there is too much at risk. If someone is continually bringing you down, you may have to reduce their involvement in your life. Not doing so will alter your ultimate success.
A tell-tale way to tell is to check your energy levels – uplifting people give you more energy and toxic people drain it.
We strongly recommend working with a coach or mentor to move yourself forward and get the success you desire.
We highly recommend starting with education. Wade’s Free Guide “13 Step Process To Buying An Investment Property” is a great place to start and understand the tips and tricks to building a successful property portfolio.
Download it here for FREE: https://curtisproperty.online/w-guide