Thursday, March 10, 2016 / Services
No two property investment strategies are the same.
No matter how many times you hear people talk about property investment as though it is a one size fits all process. Or that “as long as x requirements are met, then go for it”.
In order for us to make sure that the investment strategy actually aligns with your goals, we need to actually set aside some time with you to discuss your goals.
We are firm believers in the SMART goal paradigm, you may have heard this thrown around as a buzz word for goal setting.
A smart goal is:
Specific: We will make sure that your goal is not simply ‘be wealthy’ or ‘worry about retirement less’. These may seem like goals, but they are actually more of a acquired benefit of having met more specific goals that you have been striving for.
When we talk about having a specific goal for property investment, we are talking about exactly how many properties, where the properties will be, how the properties will be managed and financed, and what type of properties you invest in (units, apartments, town houses, houses, rural property and so on).
Measurable: We will make sure that your goal is measurable. If you try and operate with a goal that is too ambiguous, then it can consistently feel as though you have not achieved it, or that you have already achieved it.
Attainable: Whilst it is always great to have massive goals and un-ending ambition, it is also important to not set unrealistic goals.
Whilst some property investment groups will try and draw you in by saying that they will turn you into a millionaire this year, or that they will make your investment property double in value within 12 months; we prefer to be frank and honest.
Yes, sometimes with enough ambition, perseverance and a healthy amount of luck, millions can be made quickly.
However, what we are about is helping people take the steps needed to ensure that their financial future is more secure, and we do just that.
Relevant: We will help make sure that your property investment strategy is relevant to the rest of your goals. If your goal is to be building a better financial future, we will investigate long term holdings and solid growth areas. If your goal is to increase cash flow sooner, then we can investigate some positively geared properties with great rental yields.
We want to make sure that you are not set up on an investment path that is running counter to your primary life goals and ambitions.
Time Bound: This is the real clincher for many people.
Having your goal time bound is the difference between it being a wish and a goal.
It is simple to want to have a better financial future, and perhaps even come up with a plan for how that will happen. You may have a complete strategy and process in mind.
If you don’t then follow that goal up with specific times and dates, then it can easily become a dream that you often think back to, but never actually act upon.
We will help you understand your current position, and what time line that you can expect your investment journey to follow.
We Go Through All of This In Our First Meeting With You
Your first meeting with me is more of an opportunity for us to understand each other, where we are coming from, and what goals we are working towards.
Suffice to say, this one hour meeting comes at no financial cost to you, and carries with it absolutely no obligations what so ever!
Check out the next article outlining the activate way, and learn what the next step is in our process of helping our clients build wealth through property investment. See part 2 of the activate way here.
These consultations are a complimentary, no obligation service to you.