All wealthy people understand that money makes money, but the hardest part is getting the first deposit together for an investment.
At first it seems an overwhelming task, I know, I’ve been there. But life has a way of marching relentlessly on, and one day we wake up and realise, ‘Seventeen years have slipped by – where did it go?’
Seventeen years is not a long time, but it is long enough to take you from young to midlife, or midlife to retirement.
It is long enough to establish good habits or bad habits, both financially and elsewhere in life. However, in that time, by applying just a few good financial habits, you can quietly accumulate multiple investment properties.
In my ‘Aspire to Invest’ workshop, I show methods I used to save my first deposit and how to accumulate income from the first investment, in order to repeat the process and purchase a second one. For more information go to – http://www.moneyfactoryinvesting.com/seminar/
It is the investor who feels ‘flush with cash’ from her first investment, who then proceeds to spend the first year’s return, who will struggle to get back on track. If there is a loan on the property and the debt is not being reduced, but there is a shiny new car in the driveway that cost a year’s profit–or worse, it is on time payment – the investment property has simply gained a new cost and no progress has been made to reduce debt or re-invest for the future.
THINK LONG TERM
As Warren Buffet says: “You can’t make a baby in one month by getting nine women pregnant!”
According to this report recently published in The Australian Financial Review, when compared to other investment vehicles, Industrial Real Estate is a relatively low risk (3.7% volatility), higher-than-average return (9.5% net) investment vehicle (over 25 years). Read more: http://www.afr.com/real-estate/commercial/investment/commercial-property-smashes-housing-as-investment-class-20160617-gpleqb
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