How to think like a successful investor

There are so many of us out there who have big dreams and goals and desires for our lives, but just feel so STUCK when it comes to trying to achieve them.

Hands up if this is you?

Yep – thought so.

And for many people, making money or building wealth is one of those big goals. It’s also one that can feel super overwhelming – because there are SO many approaches, sometimes a lot of risk and it generally takes a bit of time if you’re looking to build sustainable wealth.

Here’s the thing. A lot of these people – maybe even you, know that investing in property is a smart and very doable way to build this wealth. But, knowing something is a good idea and actually DOING something about it are two very different things.

Often the missing piece isn’t having enough money or knowing enough information – it’s MINDSET.

So whether you’re just looking to get started or you’re a long-time investor, here’s how you can build a mindset that’s investment-ready:

• Start by learning – and we mean really learning

  Don’t worry, you don’t need to have been a straight A student to start learning, and you also don’t have to be the smartest person in the world. All you need to be is curious and willing to ask questions.

  First up is understanding the basics. How does property investment even work? What types of returns can you expect – both at the start and as you progress along your journey and build your portfolio? What type of properties might be right for your goals? What does it ACTUALLY take to buy a property?

  Once you start learning, your confidence will grow, and you’ll be far more likely to take action when opportunities align.

  Some easy ways to start:

  • Subscribing to trustworthy investing newsletters (hi – it’s us!)
  • Follow experts who share REAL insights, not just ones who follow the hype.
  • Ask questions and don’t be afraid to say “I don’t get it.”

  The MoneySmartwebsite run by the Australian government is also a really great resource when you’re first getting started – especially if you want an unbiased overview of what the risks and rewards of property investment are.

  We also have a TON of posts on our blog that discuss everything from inflation to understanding equity or what property uplift means for you as an investor.

• Create goals you can ACTUALLY work towards

  Now, we’re not talking goals like “I want to start investing” or “I want to buy an investment property.” No – we’re talking about setting clear, measurable and achievable goals that actually mean something to YOU.

  Some things to think about:

  • What do you actually want to achieve with investing? Freedom? Security? Setting yourself up for retirement?
  • What’s your timeframe to achieve this goal?
  • What does success look like to YOU in 1 year? 3 years? 10 years even?

  Having clear goals will do wonders for your mindset, because it will give you something tangible to work towards. You’re no longer kiiiiind of working towards some vague, random future. You’re committing to a clear, defined and exciting future that is entirely in reach, so long as you’ve got the right plan to get you there.

  Which brings us to our next point…

• Plan, plan, plan

  Here’s the thing – having an investing mindset is all about knowing which direction you’re heading in. Knowing exactly what you WANT to do, and WHERE you want to be, then having a plan that you can follow to help you get there.

  You don’t need to have every single detail figured out, and likewise the plan doesn’t need to be perfect, but if you start by mapping out some key things you’ll be well on your way:

  • How much do you have in savings, and how are you going to budget to reach your deposit goal?
  • How much money can you borrow from the bank?
  • Who do you need on your team and where can you begin to find them?
  • What type of property do you want to buy and where do you want to start looking?

  Of course you can do all of this planning on your own, but if you’re not sure where to start, talking to a team of experts (like us here at Propell!) who know the landscape and have a ton of experience in crafting strategies for people like you is a great option.

  Which again, brings us to the final point.

• Accept help and guidance from people who know more than you

  Building a strong team of people, experts and supporters as you make your way through your investment journey will help you to avoid mistakes, recognise blind spots in your own decision making, teach you valuable insights and find opportunities that you may not have otherwise.

  This will do wonders for your mindset, because when you’re supported and armed with the right information, your confidence is going to skyrocket and your desire to take action will too.

  These people will also keep you grounded if your mindset starts to fade. Because let’s be honest – investing can be an emotional rollercoaster and some days you might feel a little anxious or unsure. It’s super normal, but it’s also where having people backing you 100% will help you to keep backing yourself too.

In reality, your investing mindset shouldn’t be fearless or unwavering. It shouldn’t be courageous without intention and it shouldn’t take an ‘at all costs’ approach.

What your mindset needs to be is prepared. Your mindset should be choosing to learn, getting clear on exactly what you want and surrounding yourself with people who can help make it happen.

Because the right mindset + the right strategy?

Well it equals success.

Looking for a team of property experts to support you through the process, or just want to chat more about how you can get yourself prepared for your investment journey? Give us a call on 1300 776 735 or reach out HERE.