Investing Is More About What You Put In

Successful investors and entrepreneurs see the world different to the rest of us. Some people seem able to achieve great success with their investments and their businesses, while others struggle to do a single deal (until they learn the secrets that is).

One of the key fundamental lessons that everyone has to learn when they invest, is that Investing Is More About What You Put In than What You Get Out. (Sure – what you get out is important too.)

Investing, ultimately is about making money. If at the end of our investing careers, we haven’t made any money, then really, we can’t call ourselves investors. The funny thing is, though, that if we focus on the money-making, we really impede our abilities to be successful.

Let me explain why…

The Truth is, that the results we achieve are fundamentally linked to our actions. People who don’t take action find it very hard to get results. This is a lesson that lots of people who are starting out need to learn – if you aren’t getting the results you want, is this because of the action that you are (or aren’t) taking? What do you need to do in order to move forward faster?

We need to focus not on what we are getting out, but what we are putting in.

When I ask people ‘what do you want to put into your investing?’, most people don’t understand the question. Most people try to tell me what they want to get out. “Well, I want to be financially free! I want to own a large property portfolio that generates $100,000  a year.” These answers are fine, but they are not what we need to put in. These are outcomes at the end, that reflect who we have become.

To start with, we need to establish what we are prepared to put in. What we are prepared to invest. Think of the word “INVEST”. When we “INVEST” we need to actually put things in, with the goal of leveraging our input for a greater output in the future. We need to invest time, money, energy, emotion, thought and actions so that we can generate in the future: more time, more money, more energy, greater emotions, more thought and more actions.

What we get out is a direct result of what we put in and our ability to multiply our inputs for greater outputs. People who get stuck at the first step – dedicating time, money, energy and so-on to investing are often afraid of putting in and then “not getting something out”. If you never put anything into your investing you won’t get anything out either.

It’s like farming – you need to plant seeds in order for your crop to grow. You then need to tend to your crop, water it, etc – and over time it will produce a great harvest. But you need to start. And you need to sow. And you need to water it. And lastly you need to harvest.

I have some advice when starting out, especially if we are afraid that the return we might get won’t be as high as we like. This also applies when are trying a new strategy for the first time, even if we are experienced.

  • Read as many books, magazines, articles, blogs etc on investing as you can, to be comfortable with one investing strategy.  Pick one that resonates with you. Something that feels right.
  • Attend seminars, network with other investors, talk to people about what they are doing and how they got started. What worked for them, what didn’t. What where their wins and what did they lose?
  • When you are ready, start on a small deal. I’d recommend one that feels too small. Put no pressure on yourself. Aim for something with a good return, but a really small deal. In property investing, go for a house less than $100,000. Or at least under $200,000. You can find these properties in regional areas. You can also find these deals in the peripheries of capital cities.
     >> Sydney Investors, at our next PropertyMeeting.com.au Parramatta talk, we will have a speaker who specialises in these kind of deals – great properties that are Cashflow positive, under $200,000, in capital cities. Don’t miss out, and ensure you make it to this talk if you are interested in this strategy. If you aren’t already registered for emails for these meetings, go to www.propertymeeting.com.au NOW.
  • Then do it. Maybe you will make money, maybe you won’t, but it won’t matter if things don’t go completely to plan because it’s a small deal. (Once you successfully complete this small deal – this pilot – then do the bigger one. But do the smaller one first.)

This first deal is all about learning. But you also DO want to make a profit too. And you will make mistakes. But it’s about getting started and taking action. Because it’s a small deal, this will limit the amount you might lose if things go wrong. If you are comfortable, do something bigger. But if you are finding it hard (or seemingly impossible) to get started, follow this course of action, and see how you go.

My last advice – if you are starting out and if you do buy in a regional area or a periphery of a city, pick a good area and choose the right kind of property. I talk more about how to do this in my book, Become A Property Millionaire In Your Spare Time. If you haven’t read the book yet but want to try this strategy – then perhaps you really should add this to your reading list before you start.

And yes, you will have to travel there. So choose somewhere to invest that you would like to visit. Get out and see a bit of Australia. It’s an amazing place.

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