What’s great about Property, is the number of Investment strategies available; buy-to-let, buy-to-flip, deal trading, multi-let’s, HMO’s, serviced accommodation, options, rent-to-rent, commercial to resi, land, new-build developments and more.
What’s great about this, is that it gives you multiple options to consider as an exit for your deals. Which strategy to apply depends on multiple factors, including location, property types, supply and demand, the local market, individual investment criteria, appetite for risk, knowledge, and so on.
The downside, however, is that with so many investment strategies to choose from, it can be overwhelming, particularly to someone just getting started.
We live in a world of distraction, and if you choose to learn everything, you’ll likely become a master of nothing. You need laser focus to succeed in Property. Most folk are content to live as generalists rather than specialists, and the blessing of having multiple options available to us, becomes a curse in the form of shiny object syndrome.
Worse yet, when savvy marketers make various strategies sounds, sexy, easier, faster, bigger, and more profitable, it pulls you further in. It’s the 6-minute abs, or 10lbs weight-loss guaranteed inside 7-days approach. Think about it. Our minds are drawn to the apparent quick and easy route, but the reality is, that no strategy will work unless you put in the hard work, and focus on making it a success.
Think of each strategy as a mountain. It’s impossible to climb two mountains at the same time. Each mountain has it’s own summit. Think about conquering one mountain before attempting to conquer another. This way you will truly become a specialist in that strategy and will begin to see the rewards. You will have learned key lessons and insights and will have developed an actual blueprint and roadmap to follow. If it’s the first time you’ve conquered a mountain, you’ll find it easier to go back up again.
Then, and only then, should you consider a second strategy. FOCUS.
If you’d like to find out more about building a property business, replacing your income in 90-days, or any other aspect of property, go to PropertyProtege.com, watch live footage of our other Protege members sharing their experience, then get in touch.