Without a doubt, Jennifer has been able to be present and be a full-time mom with her infant daughter while building up her property portfolio and earning passive income.
So, now that you know what a property investor is, asking the big ‘why’ on becoming one is the first big step you can take on your own property journey.
Knowing your ‘why’ will, after all, help determine how committed you’ll be in your pursuit of success in the property market. And only you can answer this question.
READ MORE: Life Goal: Achieving Financial Freedom
Perhaps you’re already sold on the idea of becoming a property investor and you want to already start investing in property.
Thus, to illustrate the key tasks that you need to complete to succeed as a property investor, I’ll share with you the top-notch tips I’ve learned from seasoned experts in the field, who are some of Australia’s most successful investors and property developers.
When she was just 39 years old, her husband passed away. This sudden blow left her to take care of two children, aged 9 and 11, all by herself. She knew that she needed to find a way to create a better future for her kids. And in the long journey of moving forward and making a living, she soon realised that property was the answer.
She soon got involved being hands-on in property investing with business partners—buying and renovating existing houses to grow their portfolio.
Today, she has an amazing portfolio that provides for her entire family. She’s also the founder of Decide Believe Begin Become. And as a property coach, she says that your mindset is one of the keys to your success as an investor.
However, all of that technical knowledge means little if you don’t have the right mindset.
Currently, he controls over $100 million of real estate in the United States alone. And he’s quick to point out how important education is to his investment decisions.
Commit some time each week to your education and you’ll stand a better chance than most as a property investor.
As an aspiring property investor, you must understand that all of the investment knowledge in the world can’t help you if you can’t finance a property purchase. Depending on where you buy, the upfront costs of investment property can extend to hundreds of thousands of dollars.
A professional mortgage broker can help you to navigate the hundreds of loan packages available so you find the best one for you. (In fact, it’s something that Michael Xia does in his role as the founder of the Mortgage Channel.)
Furthermore, Michael gives constructive advice on how we can practically finance investment properties when he shared this philosophy:
And although his upbringing initially ingrained in him the idea that debt was bad, he entered investing in properties with the renewed mindset that not all debts were bad.
Personal loans and car finance are examples of bad debt that don’t serve your investment strategy.
Your mortgage, and the equity it allows you to build, is an example of good debt.
He evaluates the potential appreciation of value in the real estate or properties he looks at before he even decides to invest in them. And from there, he can now determine the best way to profit from his investment properties.
Don't forget: There are all sorts of ways to make money with your property.
In one of my interviews with him, he shared about the benefits of data. He particularly pointed out that ‘it’s so easy to become biased about particular suburbs—and looking at things numerically helps us avoid that sort of bias. So [data is] handy for a number of reasons’.
If you want to be successful in investing in property, you need to spend time reading this data and learning what it all means. Ultimately, investing is a business, and it’s the numbers that lie at the core of it.
And a necessary part of taking and mitigating risks is learning how to handle other people and their attitude towards the risks that you take—which is something that property investor Dean Parker experienced first-hand.
Learning to take or mitigate risks is one of the aspects of property investing that few talk about. In truth, the people around can influence your mindset if you allow them to.
You must adopt a growth mindset and understand your appetite for risk. And to bolster that mental strength, you need to learn as much about investing as possible.
READ MORE: Adaptive Strategy and Managing a Portfolio
So, sign up today to get your hands on our 37 Buying Tips from The Experts report. And if you need any additional help, Property Investory can provide the guidance that you need.
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And we at Property Investory can help you. We can provide the guidance that you need. Sign up today to get your hands on our 37 Buying Tips from The Experts report.
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