It never fails to surprise me, but I guess it really shouldn’t anymore…
Perfectly healthy and capable people who want to be real estate investors in the worst way…
But then, they can seem to get past investing in a place that they can actually afford!
They would rather stay in their jobs…
Work all the hours they do, week in and week out…
And keep their lifestyle intact for as long as they can…
Instead of using their free time to go where they can afford to build a passive income portfolio…
One that will allow them to pull the pin on their jobs if they wish to…
And control their destinies.
It still shocks me.
Stop mucking about!
Who thinks like that?
How does that logic work in their lives?
That’s like deciding that you need to get a car to get to work and support your family…
But because you can’t afford to buy the Porsche or Mercedes-Benz…
You don’t buy a car at all!
Rather than being independent…
You choose to ride the bus with everybody else.
Does that make sense?
What does a novelist do when he’s writing a new novel or an architect do when he needs to create a new blueprint?
They go to wherever they need to go to get it done…
No mucking about, no excuses…
Just a mission to accomplish.
Simple, right?
Are you one of these “investors?”
Then why is it that so many would be investors have all the training and knowledge they need…
But can’t take the last step out of their comfort zone and go where the deals are?
It’s like getting all the gear to go fishing only to not make the drive to where the fish are biting!
Are you one of these “investors?”
The problem, I think, is in how you choose to think about it…
Putting the challenge in the proper perspective, as it were.
For instance, if you had a great job opportunity waiting for you…
A second job that you only worked on weekends…
That would allow you to earn as much as you do now in your full time job in your spare time…
But you had to devote a couple of years doing that job…
And you had to drive an hour or two to get to it…
Would you take it?
The conversation you’d have with yourself would be something like…
“Right, it’s only for two or three years and only on the weekends…I can do that!”
You would correctly calculate that the benefit of working that second job and take it…
Because you know that before too long, you’ll be free as a bird…
It will be your decision to keep your regular job…
Or to quit!
It’s your choice—and it works!
That’s the exact choice that you have right now…
Especially those of you who live in the capital cities and just can’t afford the prices for an investment property.
You don’t have to move out to the smaller towns to invest in a smaller town…
Although, it might make real economic sense to do so.
In fact, that’s just what many of my most successful iLoveRealEstate students have done.
They either sold or rented their city home and relocated to the investment area…
Or they just moved there without owning another property…
Choosing to live in their first investment property while they reno’d it.
They then found a renter for that property and moved into another property…
Where they did the same thing again…and again…and again.
In a couple of years, their cash cow portfolio would be five, six or more properties positive cash flowing…
Then guess what many of them did next?
They moved back into the city where they really wanted to live…
And became real estate investors there, as well…
Only now, they could afford to do so!
Cheaper to buy than rent
The good news is that this process is possible for anyone…
In fact, latest research says that there are 3,320 suburban areas and tows across Oz where it’s cheaper to pay a mortgage than it is to rent!
That’s almost twice the number reported last year!
This is the kind of news that should get you away from your television and onto the web to find your next investment property…
Then make the drive out there…
Talk to some local agents about the rental market…
And find out which properties have been on the market the longest and why…
Get yourself qualified for a mortgage…
Gather a 10 per cent down if you can…
If not, talk to the sellers of the properties that aren’t selling and ask them what they want out of the property…
This process can take a bit of time and effort…
But so does showing up for work five or six days a week…
Working late to get your bit done…
And taking orders from a boss or your clients for thirty-odd years.
Which would you prefer?