From this point on the Guided Property system is going be spread out of a few days, this is because the amount of time necessary to digest the information I’ll be sharing with you, and to give you more time to complete the activities.
What a lot of people – investors and non-investors alike – do not understand is that property investing is predominantly a mindset game; you can have the best techniques, strategies, and properties, however if you do not have your head in the right place then you could be doing yourself more financial harm than good.
If your mindset is not right, then often you will miss profitable opportunities, you will make the wrong decisions, and you will have a hard time managing your financial and investing goals.
Think about this: let’s say that you go to university did you spend 4 long and hard years studying to get your accounting degree
After graduation, you get a job and you think to yourself “wow, what a waste of time at uni – I’m not using ANYTHING I learnt!” How many people have you heard say that what you learn in uni is not the same as what you actually do in the real world?
Does that mean that your uni studies were a complete waste of time?
What a lot of people don’t realise is that you don’t actually learn how to be an accountant at university; you learn how to think like an accountant.
When it comes to accounting, engineering, quantum physics, or even being a schoolteacher, it really is all a combination of adding, subtracting, multiplying, and dividing a bunch of numbers. We learn all about that back in primary school, don’t we?
So why is it that kids out of primary school or high school are not able to become accountants or engineers or quantum physicists straight away?
It’s not so much about the numbers, as it is about the way you actually use them – it is the application of the principles that makes you an accountant, or an engineer.
It’s not even about the principles. See, I could give you the principles of accounting right now – but even that is not enough. Conversations around depreciation, tax credits, profit and loss, balancing the books, and all the other terms and concepts won’t make sense if you first to do not know what they mean, how they work, and how to think with those concepts.
You need to learn how to think like an accountant first and foremost, only then can you learn the principles – and then you can apply them.
It is no different when you become a property investor.
I could very easily give you the ”how” and “what” of property investing – the strategy and the due diligence and a bunch of techniques – but it will only get you so far.
That would be like giving you a bunch of numbers, a calculator and a bunch of formulae and saying “here do my tax return”.
Sure you could follow the formula, and you may have some degree of success.
But what happens when it comes to the more complex things?
What happens when it comes to looking for ways to save more money, minimise tax, and maximise the return? You need to know the system right?
That’s why you need to have your head in the right space – you need to have the right mindset!
So, over the next few instalments of the Guided Property System, I will be getting you to start thinking like a property investor.
You will receive some stories to show you how people have achieved success that could only have been possible with their new mindset.
You’ll also receive some ideas and exercises and points of view on how to shift your thinking so that you are more suited to thinking like a property investor.
What you need to do is be prepared to do the work: that means being open-minded, doing the exercises, and committing to push your boundaries a little bit.
Observe your thoughts.
Look at your approach to everything in life – your health, your wealth, and your opinions – particularly of yourself and of other people.
Grab an exercise book and start to note down what dominates your thoughts, and what emotions you’re feeling towards certain things.
There is no right or wrong here – there is just what is, and the most important thing for you is to know what you’re working with. Especially when it comes to yourself and your financial goals.
Take a note of what you like and dislike when it comes to your thoughts, and take a note of what shifts your thinking to positive as well as negative.
Get started on this straight away, and by the next e-mail you should have enough observations noted down that we can take the next step.
To Your Success,
P.S Next up we’re going to have a good chat about fear… and how to move past it quickly!