How To Start and Accelerate Your Property Accumulation Phase?

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How do you get started and accelerate your property accumulation phase so you can grow your property portfolio faster?

Ryan:    Uh Sunny Kim’s asking “What would your advice be for someone in their late 30’s who doesn’t own a house, but wants to start their property investment journey. What are the ways to accelerate the accumulation phase?”

Ben:     I think as Ryan mentioned before, starting with some form of strategy or strategy session, where you identify where you are, where you would like to go, what’s holding you back, and what your next step looks like.

You know, when you talk about accumulation phase, the way that I think about it and there’s been years when I’ve bought maybe five or six properties literally in a 12 month period of time for myself. Is it’s always one step at a time and the right step forward.

Before you think about accumulation you need to get one property and make sure it’s the right property for you. For your short and long term goals. And then after you’ve done that property successfully, and it’s squared away, and you’ve got head space to think about another property as a separate transaction that’s part of the whole. Then you start thinking about the second transaction.

But if you’re thinking about buying three, four properties now, and you haven’t bought one, it can be an overwhelming experience and you’ll end up losing money on the first home because of that.

Ryan:    Yeah. You basically said exactly what I was thinking as well. Which is, anyone can use this. Whether your late 30’s, early 20’s, late 60’s, assuming you still have income and can get a loan, different ages. Set your goal and work out “Okay, what do I want to achieve.”

And the fact is, we can make property really complicated. And we can make it this hundred step thing. And you got to buy this property, and that property. 10 properties in 10 years. And this is how you do it, you buy it in year one and year three. You know, we can go through all of that, but as Ben was saying, the fact is it’s one step at a time.

Fight against the urge to make it this whole giant, really complicated plan. But set your goal of what you want to achieve, decide on the strategy that you want. But then dial it, keep coming back down to “Okay, what’s next? What’s next? What do I need to do next?” And you’ll find that your next steps are generally pretty simple steps that are easily achievable.

So that might be saving a deposit. Okay, that’s not easily achievable, but it’s definitely doable. That’s pretty hard for most people. But saving a deposit. Or it might be researching the area, and choosing your suburb. Like, these little steps and things that you need to do. Then it might be going to an open for inspection, or calling a real estate agent, or speaking to a mortgage broker.

You know, we can get high flying with our ideas about how, we’re in our late 30’s and we want to achieve it in the next however many years, and then we build out this whole plan. But we never speak to a mortgage broker and find out how much of a deposit we need to save. Or how much money we can actually borrow and realistically work with.

So set your goal. Think about what strategy you think suits you best, but then really dial it back and work out, “What’s the next thing that I need to work on.” And then work towards that. So your working towards your first property as Ben said, the right property as well. And the right property is different for everyone, but hopefully that right property will help you jump faster into the second one.

But even before that you’ve still gotta do all those other steps so, don’t get too far ahead of yourself.

Ben:     The first step in getting started is talking to a mortgage broker and then, making sure that you’ve got what he needs from you to satisfy a loan. And then once you know what you can borrow, you can start identifying a market. And then suburbs and types of properties within that suburb, and then educating yourself on the suburb. And then analyzing the data and just going one little step at a time. Incrementally as opposed to, what a lot of people do, which is, everyone wants a long term plan, but nobody wants to roll up their sleeves and wash the dishes today to make it happen type thing. So.

Ryan:    Yup.

Ben:     Ryan and I think we’re both really good at that. We just focus on the immediate next step. Every single day I wake up, I plan that day. And I just focus on that day. And then there’s a few bigger things that I’m working on at any one point in time. But each day is just getting me closer to where those things need to be. They’re not top of mind constantly, because it’s completely overwhelming to think about all that stuff at once.

Ryan:    Yeah. My slogan for On Property used to be “Your long term success is achieved one day at a time.” You know, you don’t achieve-

Ben:     I love that.

Ryan:    Financial freedom in 15 years time, instantly. But it’s like little bits of action every single day. Little bits of learning every single day. And all of that sort of stuff.

And often you’re taking these steps, you’re seeing a mortgage broker, and you’re doing these things. And nothings happening, right? Because your not, you haven’t bought a property yet, so you’re not getting any capital growth or rent. Or even after you buy your first property, it might sit flat for a year or two and nothings seems to be happening.

But if you keep diligent, if you keep at it, you keep focusing on it and trying to take those steps towards financial freedom, then you’ll wake up 15-20 years from now, have achieved it, while all your friends are still talking to you about their long term plans to become financially free in 15 years. Of which they’re doing nothing. The little actions each day are way more important to get you there.

Well I hope you enjoyed the answer to this question with Ben Everingham from Pumped on Property. We’re really having a blast doing these Q&A sessions with you guys, so keep the questions coming.

If your at the point now where your ready to purchase an investment property but you think you might need some help, then Ben is offering free strategy sessions to On Property listeners. Simply go to and you can book a time with Ben and you can go through where your at, where you want to be, and what your next steps are to get there.

So again that’s Thanks so much for watching, and until next time, stay positive.

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