One of the myths you’ll hear banded around about property is that it’s a bit of a scam and a get rich quick scheme. And of course, it’s neither of those things. I guess people say it’s a bit of a scam because the media like to portray investors and landlords as being bad people.
Now undoubtedly, there are people out there who probably shouldn’t be landlords and investors, and they’re not doing a great job, but there’s people who are probably a little bit dubious in every walk of life. Landlords and investors are no different, the majority of landlords and investors are decent people.
Is it a get rich quick scheme though? Absolutely not. One of the key things to remember about property, is that really property is all about building wealth steadily over the years. Now, I don’t know what your current financial situation is, but I’m guessing that if you’re reading this post you’re interested in property and you’re probably interested in changing your financial future. Property is a great way of doing that, but it’s probably not going to happen instantly.
Now there are strategies in property which will help you to make very large sums of money in a relatively short amount of time, if you know what you’re doing. For example, if you were able to put together a development opportunity, you could probably make hundreds of thousands of pounds, maybe even millions of pounds in 18 months/ 2 years.
But for most of us, when we’re starting out, we’re not really thinking of doing that because we haven’t got the knowledge or the experience, and we probably assume it’s a little bit beyond us, particularly in terms of raising the finance. That probably isn’t true either and we can probably do more than we imagine. But for most of us property is a fantastic steady way of building our wealth over time.
It’s not a get rich quick scheme, but if it were anything, I suppose, it is a get rich quick slow scheme, which makes it very, very powerful and very attractive, and very doable for many people. So, if you want to change your financial future then please do consider property.
Here’s to successful property investing.
Peter Jones B.Sc FRICS
Chartered Surveyor, author and property investor
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to: