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The big ‘why’ when investing

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guest | 01 Sep 2011, 05:23 PM Agree 0

How do I find property?How do I find the best deal?How do I find the best team or a joint venture partner?What is 'buy and hold'?What is 'lease to own'?What is 'vendor take back'?While the hows and whats are obviously crucial, without firmly establishing the whys, which underlie your interest in investment, you run the risk of both losing focus and implementing strategies that are inappropriate for your specific goals.The reasons why the desire exists in you to venture into investment are fundamental to everything else. Whether you are a prospective buyer or seller or you simply require coaching, gaining clarity about the motivation behind your goal pursuit will ensure your passion remains fervent when things get tough.In order to find the fundamental factors that are driving your investment motivation you need to be rigorous in your questioning. If you're seeking financial freedom, ask why? Be inquisitive about every answer until you determine the core needs you're seeking to satisfy with investment.Why are you investing?Why is this important to you?Why are you seeking to be coached?Initiating the reflection process with these simple questions will help you when facing adversity and starting to question your own abilities. When you are able to quickly recall the root of your passion to succeed it will ensure you never waver, regardless of how steep the challenge may seem.Often investors will begin their journey full of eagerness, expecting to earn a fortune with minimal effort (as they may have seen it presented on TV or through uninformed word of mouth) only to find their preconceived notion did not quite marry with reality.In fact, investment is a lot like marriage. It begins with the honeymoon phase in which you see only endless possibilities and you're enraptured with each other. Fast forward a couple of years when the reality of married life has truly settled in. Far from the initial dream, it's now about changing diapers, sleepless nights and all the challenges that follow.Similarly, investing is all about adrenalin when you're starting out – completing your first purchase is a truly great feeling. Your financial aspirations seem so attainable until, say, your property manager abandons you, escaping with your last month's rent; or until your tenants are upset because a water pipe has burst and you're getting calls in the middle of the night to fix it; or one of your tenants is refusing to pay rent and now you need time off work to attend court. At this point, it would be safe to say, the honeymoon phase is over.I am not trying to discourage you from investing but I am trying to paint a picture of the reality of investment, which sensationalist media sources or investors themselves are reluctant to provide. To begin your venture into real estate investing with optimism is a good thing but it also behoves you to consider the work involved and be mentally prepared to face challenges on the road to success.
  • Militza | 04 Oct 2011, 03:36 PM Agree 0
    The best time to build your passive income with distressed properties in Florida could not be better. Canadians are buying several units at a time and renting them seasonally for 20 to 25 percent profit. Now tell me what bank will pay thatin return. To learn more about really good deals visit my website at or email me at homes@militzafernandez.com. Militza Fernandez-Realty Elite
  • Militza | 04 Oct 2011, 04:36 PM Agree 0
    The best time to build your passive income with distressed properties in Florida could not be better. Canadians are buying several units at a time and renting them seasonally for 20 to 25 percent profit. Now tell me what bank will pay thatin return. To learn more about really good deals visit my website at or email me at homes@militzafernandez.com. Militza Fernandez-Realty Elite
  • Zander | 13 Oct 2011, 08:20 PM Agree 0
    Great article Tahani. I don't think people truly search their 'why' often enough or in enough depth.
  • Zander | 13 Oct 2011, 09:20 PM Agree 0
    Great article Tahani. I don't think people truly search their 'why' often enough or in enough depth.
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