I remember being totally fascinated when I first heard the phrase coined by Henry Ford, 'Whether you think you can, or think you can't, you're right!'
When you start any new project, the most important aspect is actually nothing to do with external factors, it's all about what is going on in your own head. Of course, certain external factors do matter, however, these are not the overriding influences which determine your success.
You can overcome most obstacles if you put your mind to it. So, what has this got to do with property? Simple; you can apply the principle above when building your property portfolio.
I remember during the early days of my investing career being quite gung-ho in my approach to becoming a landlord and starting to invest. I am sure it was this attitude that actually inspired me to take action and take control of my financial future. I had no barriers in my mind to starting out, and I remember taking what many would consider to be quite a few risks along the way.
Not least of which was taking out students loans and later on refinancing our own home to use as deposits on other properties. This meant that we were actually 100% geared a somewhat risky strategy, although one which has since really payed off! On reflection, this was a good thing, but also quite dangerous!
Over the years, I have certainly experienced a steep learning curve on occasions, however, it has been my overall determination to achieve my goals which has kept me on track and positioned me now in a place where I am able to choose what to do with my time; something for which I am truly grateful. Some of the biggest learnings I have had are listed below. I call them 'The 3 C's'.
ClarityI remember once being told by my business mentor 'Resistance is created through a lack of clarity'. Those words have reverberated around in my head ever since and whenever I feel stuck about making a decision, I think about where I am unclear. Having a sound understanding of what you want to achieve from your property endeavours will help you to determine which strategies are going to work best for you.
Taking into account your own personal situation and how you are going to fit in your business activities will give you the framework upon which to build your business. This will a lead to clarity of vision, even if you're not entirely sure how you are going to get there. It is amazing what can turn up when you have that clarity.
CertaintyOnce you have clarity around what you are doing, you can investigate further into how to achieve your goals. This will then give you certainty about what you are doing. When you feel sure about what you are doing, you make congruent decisions without hesitation or fear, and this gives you a great foundation on which to build your business.
ConfidenceThe natural result of having clarity and certainty about your pursuits will lead to a feeling of confidence in everything you do. This is particularly important when it comes to working with property as, let's face it, the amounts involved are never pocket change! Whilst building your business, it will be good to check in with yourself every now and again, just to see if you are headed in the right direction.
If you ever feel wobbly about any decision you are making, use 'The 3 C's' as a benchmark to see if you are on track with your progress. To a clear, certain and confident future in property.
Hazel de Kloe Property Investor | Property Mentor | Speaker | Author
The contents of this article are for educational purposes only and we make no recommendation of any particular investment. The price of property can decrease as well as increase and you make any investments in property at your own risk.
Why Property Works 2016 | www.whypropertyworks.co.uk