Errors Holding You Back
Mistake #1 was the myth or belief that many people have, that investing requires you to sacrifice your money and somehow live on less to create wealth. Lowering your lifestyle today to have some kind of unknown lifestyle off in the distant future.
That doesn’t have to be the case and in fact, often using your “earned income” to support your “automatic income” can hurt your growth and actually hold you back. Counterintuitive I know, but when you’ve sat down and done over 18,217 strategy sessions with clients… we’ve seen this mistake hurt just too many people.
The second mistake that people make is thinking that investing is the same as waiting.
This just isn’t the case.
We have seen properties make anything from 100k to 180k in around 18 months, in suburbs where other properties have actually gone backwards by -2.3%. It is simply not true that you need to sit around forever, hoping that the market rises to make you some money. Professional investors don’t work that way.
Also, most people don’t realise that an intelligently selected investment property in a high growth area can increase your available cashflow TODAY. Having said all that, let me make this VERY CLEAR.
In real estate, there is no such thing as “get rich quick” – it doesn’t exist. Anyone telling you this is probably just trying to take your money. We have tried almost everything there is to try in property investing over the last 15 years. We’ve looked under every rock, under every bush, behind every tree… I’m telling you, it’s just not there.
Yes, some ways are faster than others, like the examples I have above. However any system that takes you from “zero to millionaire in no time flat” should be screaming alarm bells at you
Here is what we do see though…
Most people grossly overestimate what can be achieved in 5 years and grossly underestimate what can be achieved in 15.
With the right strategy and help, you can be done, dusted, out of the “earned income” game in 15 years (or potentially less).
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