Thank you for your curiosity about the six steps to your new life as a Property Investor.
As an active investor I know it's not about the property itself, it's about the dream. Property is just the express bus to financial independence, wealth and to creating a lifestyle full of freedom and choice.
Have you asked yourself what financial freedom means to you? Is it having enough money to pay for a fabulous lifestyle, enough income producing assets so you never have to worry about money again? Is it having enough money to quit your job, so you have time to discover your divine purpose, do what you love for a living and contribute your message.
For me it's empowering women in their finances as a catalyst for change in all areas of their lives. Helping women to take of the mask they wear every day, stand in their feminine energy, become authentic, inspired to share their unique message, their gift with the world.
There are so many great property programs in the market place today yet only 10% of people who invest time and money in these programs will take action. After going through the process myself for a third time, I realised that 80% of investing is psychology or mindset and only 20% is the actual strategy or investing. It occurred to me that buying your first investment can be a daunting, costly and time consuming process, when navigating it alone.
It also occurred to me that many women, regardless of how committed they are, might be put off by the uncertainty and the contradictory information available. They give in to the fear of making a mistake and allow themselves to be swayed by the well meaning dream stealers to not only give up the challenge, but all the dreams that go with it.
So through Property Empowerment I created a simple six step property program. It's about creating the right environment and mastermind team of active investors who specialise in residential property investing. Leveraging against their experience and knowledge, overseen by the support of a qualified NLP coach who understands both people and property.
The 6 Step Property Program Includes:
Step 1: Creating an Empowered Investor Mindset
Step 2: Education and Information
Step 3: Finance Strategy
Step 4: Portfolio Structure
Step 5: Property Purchase
Step 6: Property Conveyancing
Step 1. Creating an Empowered Investor Mindset
Remembering the 80/20 rule, the first and most vital step in becoming a successful property investor is having the right mindset. The market proves this to be true repeatedly with all the failed investors who thought it was just about buying property. Empower your mindset with specific regard to your values, decisions and beliefs around money and investing. Work with a great NLP coach to identify and work with your unconscious values to ascertain whether creating wealth is something you value and if you are motivated toward a desire for abundance or away from your fear of scarcity and lack. If creating wealth is not a an unconscious value, no matter how hard your consciously try, you won't succeed.
Step 2. Education and Information
Once you have a success mindset it's time to head into the classroom to study Property, Structure and Finance. Understand the basic concepts so you can communicate with the experts in your mastermind investing team. Topics such as property selection criteria and the principles of company and trust structures best suited to your portfolio. Investigate the multitude of investment mortgage options and the principals of each.
Increase your financial and property vocabulary to give you a sound understanding of investing, saving you time and money when dealing with the relevant experts. Do not however get stuck in analysis paralysis, know when to say enough is enough and get started. You never stop learning about investing so enjoy learning along the way.
Step 3. Finance Strategy
Now that you have a successful investor mindset and a good understanding of property, structure and finance it's time to look at your overall finance strategy which can make or break your success as an investor. With the guidance and advice of a finance broker who specialises in investors, review the mortgage on your existing home (if any) with the aim of setting up a line of credit as both a deposit and buffer. Next decide the best option to finance your new investment and formally gain written approval in principal for your new investment before moving to the next step.
Step 4. Portfolio Structure
Now that your finance is in order it's time to decide what structure to purchase your investment in. This is the step that most people skip until after they have multiple properties and it's getting messy and complicated with the tax office. Rely on the property and tax accountant to guide you on the right structure for you, be it in your name, multiple names, the name of a company, trust or a combination of both.
Step 5. Property Purchase
Now with an investor mindset, sound knowledge, a finance strategy and structure in place, it's finally time to go shopping... Yahoo!! Unlike the novice investor who lured by the smell of baking bread and percolating coffee at an open house, falls in love with the property without finance or structure in place. As an investor you buy with logic not emotion.
I advocate using a professional Buyers Agent who specialises in the area you are investing in with the network and relationships to find you a great investment, hopefully under market value. Once a property is chosen, the buyer's agent will use his negotiation skills to negotiate the best price and settlement conditions on your behalf.
Step 6. Property Conveyancing
Your offer has been accepted, the deposit exchanged, the champagne is flowing and you are officially a property investor and on your way to financial freedom. So now it's time to kick back, relax and watch the capital growth right? Well, not quite. You need to legally transfer the property into your name or the trust name via a solicitor or conveyancer. They do all the necessary searches to ensure the property is as stated in the contract. They confirm structures are council approved, with no easements, caveats or any other nasty surprises. They also coordinate settlement between you, the vendor, their solicitor and both lenders... Now that is no easy feat!
So that's it... a simple, 6 step process you can follow, no matter what your level of property experience or what country you live in. Start your investing journey in today's buyer's market, become financially free and create the life of your dreams. ... are you ready?
Author Resource:Luca Ricciardiello is an active property investor and business owner.
Through Property Empowerment she empowers women by helping them manage their mindset, finances and create wealth through property investing.
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