November 17, 2018

Patience and Clarity Will Accelerate Your Success

If you’re at the start of your property investing career it can be very confusing.  There are so many different options open to you it can be hard to decide which direction to take.  Property investing is a big stakes game and you will want to get it right, preferably first time and that can give you some really hard decisions to make.  How much money do I really have available?  What strategy should I use? Where should I invest? And so on.

The best piece of advice I can give to anyone just starting out is meet people, go to events and do your homework.  You wouldn’t cross the road without looking both ways first and so you shouldn’t begin your property journey on a wing and a prayer.  Mistakes can be costly but you can reduce your exposure to risk by properly understanding what you’re getting into.  You WILL make mistakes! Don’t be afraid to!  There’s a saying that mistakes are early attempts at success and its true.  But don’t let them be costly ones that could have been easily avoided.

The property community can be a little bit difficult to get into at first but once you are in, it’s a very warm community to be a part of.  There are so many people that will offer you advice.  Listen to their advice, it doesn’t cost anything and you don’t have to take it.  Get yourself to some networking events (I run my own, its called Premier Property Networking Club and we meet every month in Canary Wharf ;) ),take some business cards and speak to people.  Most of the events have great speakers whom you will learn from and some of the information and contacts you will get from those events will be priceless.

Knowledge is power and the more you know the more likely you are to succeed.  That brings me to my second best piece of advice; avoid analysis paralysis.  There are some people who will spend thousands and thousands of pounds attending every course going and learning in depth about every strategy but then they never do anything with it.  You can easily get yourself in a position where you are trying to consider every possible angle and end up thinking about it so much that by the time you finally make a decision the market has moved or what you were considering no longer works.  Once you’ve got an idea of what is going to be the right path for you pursue that and that only.

Be flexible with yourself but be strict also.  Take things into consideration and adapt but then follow through on your decisions.  Property does require passion and it does require commitment.  It isn’t for everybody and you have to see it as a long-term commitment.  You will not become a millionaire overnight but give it time and effort and you will succeed as long as you are focused on the end-goal.  There will be times when you will question yourself or things don’t seem to be moving as quickly as they should but that’s ok, not everything in life always goes your way 100% of the time but it doesn’t have to for you to be successful!

 

I hope that helps!

 

Kam Dovedi

 

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