Is property investing a quick-get-rich-scheme or do you need to look at sustainability and longevity when building a property portfolio? In today’s video, we are going to be looking at the great property investing lie or myth, and why it shouldn’t matter to you when building a property portfolio.
[01:03] Growing a sustainable property portfolio will give you a very good income and lifestyle
[01:23] Property can get you a lot more benefits than any government planned pension plan scheme
[01:46] Focus on longevity, focus on doing things correctly and sustainable and then it won’t matter about getting rich quick.
[01:59] Do things in the right way.
[02:08] You will need to put in some effort.
So what do we mean by the great property investment lie or myth?
Well, when investing in property is in vogue, it’s in the media, property prices are going up. You’ll see press reports all the time, newspaper articles, website listings of property prices doubling every 10 years or property going up by 20% in a very short space of time in one particular location of the UK. All of this combined tends to follow a similar pattern. Many people talk about property investment as getting rich quick and it certainly isn’t, but it doesn’t need to be.
It’s not about trying to get rich investing in property, it’s not about trying to be retired on a beach within the next 6 months. If you do property right, if you look to grow a sustainable property portfolio or a sustainable property business it will give you a very good income and lifestyle as well.
There are lots of benefits from property, like generating a passive income without having to work 9 to 5. Like giving yourself a pension plan that’s going to last you long into the future and certainly give you a lot more benefits than any government planned pension plan scheme as well.
Look at sustainability and longevity
Now there are lots of weekend seminars out there than can suggest to teach you how to get rich in property quickly within a very short space of time.
What I would probably suggest is instead of focussing on the get rich quick ideas is looking at those types of property strategies that are going to sustain and work well over a long period of time. Focus on longevity, focus on doing things correctly and sustainable and then it won’t matter about getting rich quick. You can certainly get rich in property, with a very good income and lifestyle but it’s important to do things in the right way.
You will need to put in some effort
One thing that is important to consider when it comes to investing in property is that you will need to put in some effort. Now if you’re in a position where you don’t have much time then you will need some funds as resources to leverage other people’s time to grow that portfolio. If you’re in a position where you have a lot of time then there are certainly strategies that you can do without needing big pockets, without needing large deposits to get started in property. But it will need effort in one way, shape or form. It’s not something that you can do with no money and no time. You will need to put in some effort behind it.
There are ways that you can certainly short cut that learning curve. That could be working with property consultants, property mentors or doing a property mentoring course that isn’t geared around trying to get rich within a weekend but focusses on the long term benefits of working in property. Focusses on the strategies that will last the test of time, how to make money from straight forward buy to lets, how to do correct refurbishment projects and flip type deals. How to do property strategies that are going to allow you to make money not just in the next 6 months but over the next 6, 10, 20 years.
Focus on the long term benefits
So I would say that property doesn’t need to be a get rich quick scheme. There are a lot of benefits, as we said, even lifestyle benefits from investing in property but you want to focus on the long term. If you’re looking at short-term gains, if you’re looking at earning an income from property short term then there are strategies that you can use that are more cash flowing based strategies.
We have put in a few links on those below this so that you can understand and get an idea of how those strategies work a bit better. But, ultimately, you want to focus on the long-term benefits and a property portfolio that can last you for a long time.
Thank you for watching this video. If you like this content and would like to join our free online property training course we’ve got a link for it on this page. In there we cover a range of different property strategies to help you get started on building a long-term property portfolio or creating a cash flowing property business. We also look at ways to increase your return on investment with any of the properties you may be considering and we also have a couple of cheat sheets and downloadable documents. Just click the image below to join our free training course.