Protecting your mindset – Beware of the “advice” from others!
It’s easier to stand on the sidelines, criticize and say why you shouldn’t do something. The sidelines are crowded. Get in the game.
Beware of advice from others
There are 3 types of people you will come across when trying to better yourself professionally, physically, emotionally or spiritually. They are:
- The naysayers
- The know it alls
- The supporters
You will notice throughout your property investing career, is that everyone who has bought their own house or renovated their own house (knows everything there is to know about buying to let property) . WRONG!
Buying your own home to live in and buying a buy to let property are two VERY DIFFERENT THINGS.
Truth of the matter is, that if you haven’t actually taken the plunge and bought a buy to let property then you have nothing to offer in terms of advice. I know, I know, I sound harsh but the amount of people, without invitation, have offered me their two penneth is unreal. The people who I do listen to are people who are ACTUALLY DOING IT, who are making money and are a success in doing it.
Investing in property or anything which solely relies on you – to spot the opportunity and take that plunge – will show you who you really are. There will be many dark nights of the soul in your journey to master property investing and this is why you need to be careful on what advice you listen to.
People don’t like other people (including your closest “friends” and family) doing better than they are, they like you staying right where you are, staying exactly the same. That gives them certainty.
Just remember they “F.E.A.R” change.
My partner recently has taken a new career path, of which he has spent the past 10 years preparing for. He has started doing so well for himself and I have noticed that certain “friends” have started treating him differently (in a negative way) and I bet my bottom dollar that as soon as he starts seeing the rewards of taking the risks, they’re going to want a slice of his glory.
These people are scared of change, so when the naysayers attempt (and yes I mean attempt as they won’t succeed as YOU CAN DO IT) to convince you that it is so risky investing in property, you will have awful tenants that won’t pay their rent or trash your house.
They will sound convincing at first, as they will provide an argument that sounds reasonably logical, however remember you have done your research, completed ALL the important tenant checks and taken out decent landlord insurance in case it all doesn’t go according to plan.
So, remember two very important things; be SO careful of who you listen to and be careful of who you share your fears with as they may be the people who choose to manipulate you into not take that plunge.
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