How To Take Action Towards Buying a Property (Ep485)

Often people fail to buy an investment property because they don’t set themselves little action steps to take each day. They simply set a big goal of buying a property and then get stuck because they don’t know what to do next.

In this episode I show you how to actually take action towards buying a property this year.

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Transcription:

So often people want to invest in property, but they just take no action towards actually achieving that. So how can you start to take action this year towards achieving your property goals and your dreams of financial freedom or whatever that may be high on Ryan from on-property dot com dot a u helping you find positive cashflow property and I received an email today that was kind of upsetting. It was from someone who actually called themselves Mr. indecisive and basically went through the details about how they’ve been in this game for over 10 years. I’ve been thinking about property for over 10 years, but just barely done anything in that time and how one step has led to another and led to them basically not taking any action there. Also indecisive about what sort of investment vehicle they want to go after, whether it be property, whether it be shared, whether it be business, all of that sort of stuff.

So I don’t want you guys to be Mr or Mrs. Indecisive. I want you to be able to take action and to actually achieve your goals. Because if you don’t take action, then nothing’s going to happen, so how can we do that? How can we take action this year rather than letting just another year pass by where we don’t invest in any properties where we don’t ever move closer to our goal of investing in property, and so the first thing that you need to do if you want to start taking action, is to have a goal for the year, have something that you want to achieve by the end of the year, so look at your situation now and then look at where you want to be at the end of the year. Okay? That is our goal. We need to bridge that gap. Now, if you’re in debt, your goal might be to start saving a deposit and might not even be to save a whole deposit.

It might just be to save $10,000 towards the deposit or might vary depending on your situation. Or if you’re someone that has a deposit or maybe you already own some properties and you’ve got some equity that you’ve been thinking about using in order to invest. Again, will your goal can be a bit more ambitious? Maybe you want to go and buy a property this year. Maybe you want to buy two properties. It’s up to you what your goal is. No one can decide on that goal for you. In fact, don’t let anyone decide on that goal for you. Don’t talk to myself, don’t talk to Ben, don’t talk to another buyer’s agent. Don’t talk to someone selling house and land packages and let them set your goal for the year. Sit down and set the goal yourself. Where do you want to be in the future? 15, 20 years, and what do you need to do this year in order to move you toward that future?

Okay, so once you have the goal for the year, most people do that and then they just stopped there and look, that’s better than doing nothing, but that’s not going to get us to take action because if, if my goal is to buy a property, that’s a pretty big goal and there’s a lot of little steps that are going to be involved in order to buy that property and so often we’ll set the goal, yeah, I want to buy a property this year, but then it’s big. We don’t really understand what we need to do in order to move towards that goal and achieve that goal that we’re kind of just put it on the shelf, put it in our trophy cabinet as that’s our goal. Yeah. My goal is I’m going to buy a property this year, but you’re not actually going to take any action because it’s too big.

It’s too overwhelming, so we need to break that down into multiple steps, but rather than trying to break down the whole thing, which is gonna, take too long and you probably don’t have the knowledge that you need in order to break it down. Now, some of you more advanced investors out there, we’ll have the knowledge to break it down and you’ll know the exact next steps you need to take and all the steps you need to take towards buying a property. But first timers, they probably don’t. And so rather than trying to write down every single action that you need to take, what you need to do is workout. One thing you can do to move you closer towards your goal. Just one thing, one little thing. That’s it. Okay, so that might be if you’re currently in the situation where you have a deposit or you’ve got equity, but you haven’t spoken to a bank or you haven’t spoken to a mortgage broker will.

You don’t know how much you can borrow. And so you don’t know what sort of properties you should be looking at. And so your next step might be to go and see a good mortgage broker and to get clear on how much you can actually borrow and that might be it. That might be your next step or someone who is in debt and doesn’t even have a deposit. Your next step might be to learn how to create a budget, not even to start saving for a deposit, but just to learn how to make a budget. If you’ve never done that before, so basically try and think of one little thing that you can do to move you closer to your goal. It doesn’t have to be the perfect next step. There’s lots of steps that we can take to move us towards our property goals, whatever our goal for the year maybe, but yeah, work out that next step.

If you’ve already seen a mortgage broker, then your next step might be to start getting on real estate.com and looking at properties or it might be to start researching different areas or reading the Herron, todd white month in review report or choosing a strategy. Look, there’s so many different things you can do, but what I want you to take away from this is that if you have a big goal that’s too big, you’re going to be missing indecisive. If you want to achieve financial freedom and that’s your goal, but you have no little steps, then you’re going to meet Mr. indecisive or Mrs. Indecisive, because if your goal is just financial freedom, then you’ll be pulled this way and that you’ll look at property. You look at stocks, you’ll look at cryptocurrency, you look at business, you look at getting a new job. You look at starting a website, you’ll be pulled this way in that from all the different things that are out there because your goal is not clear enough, so have a clear goal and then work on what is the next step that I need to take and just take that step.

My boss, when I worked in pharmaceuticals, had a really good saying. She would say, how do you an elephant, which is a very strange saying, but how do you eat an elephant? It’s one bite at a time, so don’t worry about the big elephant of buying a property yet about the next bite that you need to take and the next little piece of action that you need to take. So stop right now. Have a think about it. Do you have your goal for the year? If you don’t, go ahead and set that. Take the time, pause this. Go ahead and set it. If you do have your goal for you for the year, write down one thing that you can do to move you closer towards that goal. That one thing needs to be small. It’s something that you can do today, so it might not even be seeing a mortgage broker.

It might be booking a time with a mortgage broker, so something that you can do today and that’s going to help you take action and then after you do that, then set another teeny tiny little action step for tomorrow. And then the day after that, and then the day after that, my saying with all my episodes, use of a welcoming on property because you know, what was it? It was your longterm success is achieved one day at a time, so that used to be my slogan. Maybe I should bring that back to be my slogan because I used to do daily episodes. That’s why I had that, but it’s true. If you want long term success, it’s not going to happen in one big hit. It’s going to happen in the grind. It’s going to happen with a little bit each and every day. So I hope this is encourage you.

Go out and take that next step towards achieving your property goals, uh, wish you the absolute best in doing that. I hope you liked this episode guys, and that it helped you. If you need help setting your goals. If you’re thinking about it and you’re saying to me, Ryan, I just don’t know what my goal should be. I would really like you to sell it yourself, but if he needs some help, if you need some help, then my friend Ben, who’s a buyer’s agent, him and his team are offering free strategy sessions to anyone who wants to get clear on their goals for this year. If that’s you and you’re saying, I need help, I need help setting a goal, I need help working out this property landscape, working out what strategy to have that you gotTa On-property Dot Com dot EU for a session, and you can go ahead and book a time with one of Ben’s team over there and you can talk through your situation where you think you want to be in. They’ll help you get clear on your goals as well as your next action step. So if we can’t do it yourself, go to own property dot Kondo. You force US session. That’ll be your next step and book in a strategy session time so you can get clear on it. Thanks so much for tuning in and until next time, stay positive.