Following on from my recent blog post entitled ‘It’s All In Your Head!’,
which seemed to strike a chord with a number of readers, I thought I’d follow up with another important criteria to being successful in property (and, well, anything in life in fact!)
Having decided whether you have the right mindset and really want to work with property, the next determining factor is whether you are prepared to take action on your ideas.
It may be that you are already ‘up and running’ and have established inroads into building your portfolio. Or it may be that you are right at the beginning of your journey.
Whilst much of the time you will hopefully enjoy the process and learn from your experiences as you go, there will undoubtedly be occasions when the going gets tough. You will wonder whether you’re making the right decisions, whether it’s all worth it and whether you’re cut out to manage a property business! :-S
You may face challenges right from the outset in terms of your ability to raise finance, and you will almost certainly find it nigh on impossible to find those elusive ‘deals’ when you first start off!
Along the line, different obstacles will appear in the form of challenging legal issues which can crop up during purchase, or deals ‘falling out of bed’, builders who walk off the job or tenants who leave you in the lurch and mess up your property.
These are all the aspects which not many people will tell you about…until you come to experience them for yourself!
If this is the case, then don’t panic! We all go through the rollercoaster of emotions when building anything worthwhile. It is normal to doubt yourself, and that which you are involved in, from time to time…
The question is, ‘Have you got what it takes to keep on going when the going gets tough?’
Two things are for sure, you WILL face challenges in your business and you CAN get over them.
All it takes is to maintain a positive attitude, learn your business, ask for help and support when you need it and keep on going!
Any thoughts, comments or feedback on the above always much appreciated. 🙂
Enjoy your bank holiday weekend, whatever you’re up to!