The three acronyms you need to succeed in property investment
Fact #1: If you do what everyone else does, you will live the life that everyone else lives. For many people, this means a life of never enough or just enough.
Firstly, let’s talk about saving. It is what most of the middle class believe we ought to do, but Robert Kiyosaki used to say, “Savers are losers”! Needless to say, his statement offended many people.
But he’s not wrong… One of my mentors used to say, “You don’t save yourself rich, you buy yourself rich”. Yes, you read that correctly.
Fact #2: You BUY yourself rich by buying ASSETS.
The trick is to buy as many ASSETS that are appreciating in value and producing income as you possibly can.
And that brings me to my point about leverage. The word leverage simply means to do more with less.
Basically, you only have so much money, capacity and skills. And sadly, you won’t achieve much if you only make use of your money, capacity and skills.
I learnt this the hard way by trying to create wealth using only my money, time, capacity and abilities. And I went nowhere slowly.
Fact #3: Property is the absolutely perfect investment to leverage with OPM, OPT and OPS.
We’ve all heard it, but few apply it – To succeed with property investment, you need Other People’s Money, Other People’s Time and Other People’s Skills.
OPM – The bank wants to lend you money to invest in property, and if your structures are right, they will lend you more money than you think. There are, of course, other avenues to obtain OPM.
OPT and OPS – When investing in property, you need an investment team consisting of wealth planners, attorneys, accountants, bankers, bond originators, estate agents, letting agents and maintenance specialists.
Therefore, if you want to succeed in property investment, always remember these three acronyms and leverage, leverage, leverage!