How Most People Learn about Property Investing
People often believe that there is one right way to do things. We stick with the tried and true. We do this without considering that other options might be more successful—less effort, less time, less money, fewer mistakes.
This is just as true in real estate as it is in other areas of life.
Going Along with the Crowd
When I started my exhibition company, we’d put up booths in a big space. A lot of the exhibitors would have a bowl of sweets right in front of their stand. They did this to attract people.
Why would they do that? Everyone did it because everybody else did it. People thought that was how you’re supposed to exhibit.
When I look at the property market and the way people invest, I see the same phenomenon.
Why do people invest the way they do? Because everyone else does. Putting down a deposit, getting a mortgage, and then investing is seen as the only way to break into real estate. You read about this strategy in the paper and see other investors do it. You hear the same thing on TV and the radio. That’s how people are investing, you think. You save for 20 or 30 years and then you can begin the process.
A Different Way
That’s crazy. Forget what the paper says. Forget what the news says about how people invest in property. Get educated. Why?
Because there are so many ways you can be creative in the property market. You don’t even need a deposit to buy property—or, that deposit doesn’t need to be your money.
Read books, attend seminars, listen to audio programs, watch video series on training sites. Learn. Talk to other investors about what they do. Don’t surrender yourself to common knowledge unless your goal is to be common. Learn where the boundaries of creativity are.
Learn as much as you can and then push. Sit down by yourself or with your team and dedicate yourself to finding out a way to buy property without investing your money.
Ask the questions.
- How can I make cash flow from this property?
- How can I buy this property with no money?
- How can I become rich without using much money?
If you ask those questions and you seek hard enough, you’re going to find the answer.
Don’t just take what everyone else says is the way to invest. Most people invest by basically getting a deposit, buying a property, and waiting for the price to go up, and then selling the property. And they call that “property investing.”
There are better ways to do it and you can find them.