6 REASONS MOST INVESTORS NEVER GET RICH IN PROPERTY
Reason 1 – Most people wait too long for the "Perfect Property"
Many investors wait for the perfect price, perfect location, perfect timing before they get started. At the lowest price of the property cycle, the best property at the most prime location, etc, which means they never get going. The richest people In Singapore didn't become rich because they bought property during the best timing. They become rich become they buy and hold over time. The longer you wait, the longer it will be before you obtain the money, success and financial freedom you deserve. It takes time to grow real wealth. The timing may never seem to you like it is perfect, that’s why you just need to jump in and get started.
Reason 2 – Most people do not know how to manage fear
Fear keeps many of us from getting what we want. With property investment fear holds many investors back. Some fear taking on more debt, others fear failure. Sometimes it’s understanding what you stand to lose if you don’t invest. Take the fear on, research your options and talk to someone who has been through it before.
Reason 3 – Some investors wait until they have viewed enough The fear of not knowing enough prevents many investors from starting. I have met hundreds of people where the more they viewed, the more they realised they didn’t know what they really want. They got confused. The trap is that many investor’s think they need to need to know more before they get started, so they viewed every properties across Singapore, attend online webinar training, buy books on property investment.
Reason 4 – Most Investors do not want to go through short term pain It’s important to realise that at the start, you will probably need to give something up to be an investor. Initially you would need to work long hours, save up a deposit and then invest it into a property. Sometime, you have to sit through market volatility, whereby property value or rental may fall over a short term, but you have to bear the short term pain for long term gain. The way to become wealthy is creating a passive income whether you go to work or not. It’s also about building wealth while you sleep.To put it simply: If you’re not making money while you sleep, the chances are you’ll never become rich.
Reason 5 – Most Investors are too emotional and lack property investment system A system for making money is something that takes the emotion out of your investment decisions.
My system of investing focus on numbers and raw data. Instead of chasing after properties with best attribute like next to amenities, next to MRT, at the most prime location, investors should look at the raw data, potential entry and exit price, outlay, rental income, outflow. The number will prove whether it is a good investment.
Reason 6 – They don’t go all the way
Many investor get impatient and they want to sell their investment to lock in the capital gain and look for the next best thing, but in most cases that just makes them a bad investor. Instead of locking capital gain, investors should use the growing equity to buy more properties.
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