Right now, the market for investment property in Perth is showing signs of getting ready to take off. The mining boom helped Western Australia bounce back from the GFC a lot quicker than the rest of Australia. There are plenty of jobs, and more to come. Some even forecast a labour shortage within a few years.
Meanwhile, Free Sale Appraisal are just beginning to rise. This is a rare market, indeed; investors looking to “cash out” can get fair compensation for their properties, while those looking to invest will be able to enter the market, and see a nice ROI if they hold on to their properties for a few years.
Start Now for Success
There is no way to sugar coat what I am about to say: later is too late to start creating wealth for your future. If you want to position yourself for years of wealth creation, you must start now. While it is against the law for us to guarantee results, we are allowed to say that it is our opinion that, twenty years from now, a lot of successful investors will be looking back at 2013 as the year that really started them on the path to wealth.
Those who will succeed the most are those who start taking real steps, right now, to create a property portfolio. The first essential step is to understand your mindset and the fears that are holding you back.
Fear of Failure
Anything worthwhile involves risk. Life itself involves risk, even getting out of bed and going to work every day. The most common fear that holds people back is the fear of failure. The best way to combat fear of failure is to surround yourself with experts and learn from them.
Also, you can’t be afraid to make a mistake. Mistakes are often our best teachers. If you surround yourself with the right people, mistakes will be few and easily remedied when they do occur.
Fear of Trading Security for the Unknown
Best remedied by transcending or expanding our comfort zone. We all have a comfort zone. If we never venture outside of it, our lives are pretty boring, and we never really achieve anything, because we never dared to be greater than our situation. All growth occurs outside of our comfort zone. You will never amass or keep wealth if you only do what is familiar and comfortable.
Fear of Being Overextended Financially
This fear is very understandable, and is very common. We are afraid that if we invest too much in property, we will overextend ourselves. In addition, it is natural to worry about what will happen if the economy crashes or if we lose our jobs.
At Investors Edge, we don’t do anything until we run the numbers. We work out worst-case scenarios and we build in safeguards that insulate you from market fluctuations. For those who are really worried, we can recommend refinancing when feasible, and keeping a few months worth of liquid assets on hand in case of emergencies.
Fear of Other People’s Thoughts
It is said that everyone has an opinion. Your friends, family, and associates will be well-meaning, but if you listen to what those who are going to be negative have to say, you will have exactly what they have: next to nothing. It is far better to listen to what wealthy people have to say if you want to be wealthy.
Fear of Alienation
We see this a lot. Many people are afraid that if they become wealthy, their friends and family will accuse them of “forgetting where they came from” and not like them any more. In reality, becoming wealthy can provide you with the time and money to make a difference in other people’s lives.
Any friend who holds getting ahead against you is no friend at all.
F.E.A.R. = False Evidence Appearing Real
Think of everything you were afraid would happen in your life. How often did your worst-case scenario actually happen? For many of us, the answer is “never.” But still, we treat worst-case scenarios as if they were real.
Still, in the face of overwhelming numbers, we trust our “false evidence” and ignore the reality that our darkest fears almost never happen. A life lived in fear isn’t really a life; it’s only a mere shadow of what a life could really be.
Don’t let false evidence keep you from realising your dreams and building wealth. Take that first step today. Call 1300 472 427 and let our professionals show you how common sense trumps fear.