Why Conservative Property Investors are Often Ignorant
Are you a conservative property investor? Do you consider yourself one of those people who prefer to play it safe? It might be time for a hard reality check…
Conservative Property Investors
If you consider yourself conservative when it comes to property, you probably don’t know enough about what you’re actually doing to take real, effective action.
I’ve noticed that being conservative nearly always comes from a place of fear and a lack of knowledge. Because if you know exactly what you’re doing, you’re going to have the confidence to execute the most effective plan possible.
Every time you take the conservative path and don’t seize an opportunity, you lose money. You miss out on that better location or better property at the right time. You don’t take steps you should have taken. You didn’t expand your portfolio that bit further to increase your exposure to a growing market. And those decisions cost you money in lost opportunities.
Conservative property investors buy locally, go with lower lending ratios, buy the property next door so that they can keep an eye on it. They do what makes them feel comfortable because they don’t understand what they’re doing. They haven’t got a clear strategy or the knowledge to back one up.
Aggressive Property Investors
Think about when you go to work each day. Do you consider yourself a conservative employee? No. You have the education and experience to do what you need to do. You get the job done as effectively as possible, to get the most results for your boss or your business. Otherwise, you wouldn’t have a job for very long!
So, what’s so scary about aggressive property investing? Why is it any different?
Being aggressive is about moving quickly, making choices confidently, and seizing opportunities to get the best possible results. It is about taking calculated risks, not crazy ones, because you know how to maximise your chances of success.
Does Property Investing Scare You?
If so, the problem is your lack of knowledge. As your knowledge increases, your fear will decrease, and your confidence will grow so that you can take action more aggressively.
There are two ways to go about increasing your knowledge and confidence. The first way is to spend years studying property for yourself and through a process that will include some trial and error, you will eventually get good at it.
The second way is to find someone else who already has the knowledge and experience and engage them to do the work for you and help you get there faster.
Why Get a Coach
If you needed surgery, you probably wouldn’t do it yourself (unless that was really your only option!). It’s the same with property. Why would you invest so much into something without getting help from an expert? You’ll get better results sooner with professional help from a property coach.
That’s a service we offer, so if that’s something you’re looking for, please give us a call so we can book you in for a simple strategy session to get the process started.
Happy property investing!
Daimien J Patterson