What is that One Thing?
Over the years I have spent countless hours talking to friends about property and showed them how and where to look to find good properties to buy, for my usual standard fee – a cappuccino!!
Looking back, very few actually took any action and last week, I ran into one who said, (referring to Sydney’s property boom) “units were so cheap then, I wish I had bought when I had the chance, but I just wasn’t sure”.
Belinda and I have been buying and selling property for 30 years now, so to us, it is not frightening. It comes as an easy, natural process. Simply, if we are buying for an investment, it is all about the facts and the figures, cost, income and profit. If we are buying to live in, then more emotion comes into play, but essentially, it is always about the math. We research, find a place, do some legwork and homework, then make a decision. Simple.
However, when I shop with Mum, she teases that it takes me longer to decide on a pair of shoes than it does to decide on a house!!
And she’s right….I am a slow shoe buyer, probably because I’m always hunting for the perfect pair. The pair that ticks all of the boxes – reasonably priced, good looks and most importantly, one that feels just right. If I don’t find ‘that’ pair, I get tired of looking and just leave it for another day, or forget about it.
So, I believe the same reason is why so many people are slow to get started with property investing. They shop for properties like I shop for shoes! Opportunities speed past when the market is quiet, while they keep looking for the ‘perfect’ purchase.
The danger is, that by the time most people get wound up enough to take action, listening to media reports about how much money/equity others have made and nightly news about record Auction clearance rates, they listen to the voice in their head saying, “hurry, hurry or you’ll miss out” and buy in a market that has already had the best of its growth.
The sad truth is, they’ve already missed out.
The essential thing it takes to begin is?…… to first DECIDE – in order to DO.
To decide that the WANT is a big enough reason to get started and to take the necessary steps, gain the knowledge and reach out to those who will guide and encourage you along the way.
DECIDING then DOING. That’s it!
All the best – Belinda Smith
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