Having asked the relevant questions, you may identify a scenario that could happen. Whether it is, in reality, a worst case scenario is to some extent subjective and probably a matter of semantics. But if you have identified a possible negative outcome of owning a particular property, you will need to clarify what this means…
DetailsIn my experience, from having spoken to, and from having coached, numerous would-be investors, in most instances the limiting belief behind both of these behaviours is “fear” – usually the fear of making a mistake. This in turn feeds the fear of “losing everything”. This might sound very bleak but, again in my experience, without…
DetailsI’ll give just a word of explanation about the question “Am I paying too much for the property?” This isn’t necessarily implying that you check that you are not paying more than the open market value. It is suggesting that you check against whatever criteria you have set yourself to recognise a good buy. So,…
DetailsThinking of the three principle property investing strategies, we could ask a series of questions like these: If our strategy is to buy and hold property for income: Am I paying too much for the property? Will I be able to let it once I’ve bought it? Will I be able to obtain the rent…
DetailsWhen you say the term “due diligence” to most investors they will naturally think about the basic checks anyone undertakes before buying a property. In fact, most investors will probably think of due diligence as being something they do after they have agreed terms to buy a property – having a valuation and survey, appointing…
DetailsThe next step in overcoming fear is to recognise that often fear is caused by, or fed by, ignorance. The antidote to ignorance is information and knowledge but of course it needs to be the right knowledge. Strangely many people are not discriminating in choosing their source of information. A good example of this is…
DetailsA key part of our cure for fear of failure is to remember that property investing is not about emotion. When I first started I had limiting beliefs, fears that expressed themselves in ridiculous ways. I know it sounds silly but I found it extremely difficult and uncomfortable going into estate agents offices and registering…
DetailsIf you can recognise symptoms of fear, or if you have found yourself hiding behind excuses, you’ll be pleased to hear that there is a simple cure. The first part of the cure is to recognise that you are fearful and that it is a natural feeling to have. It’s not something to feel guilty…
DetailsAnother word for over cautious is fearful, and fear can often show itself by us making excuses not to take action, even if we know that those actions are the right actions to take. The result of fear can be a lack of action, or it can manifest itself as internal sabotage when you do…
DetailsFor those who are relatively inexperienced the prospect of buying an investment property can seem daunting. In fact many new investors may feel overwhelmed at first. I guess one of the reasons for this is that property is an all or nothing thing. Unless you buy shares in a property company, or join a part…
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