There are tons of excellent reasons why it’s a great idea to invest in property, but for us the three biggest motivations are time, money and, maybe most importantly, lifestyle.
In fact, the desire to improve our overall lifestyle was the main driver behind us getting into property investment in the first place, and the results we’ve seen have kept us engaged in the industry ever since.
Now, we’re committed to helping others achieve the same thing, showing them the right methodologies to follow and the right frameworks to put in place.
In this article, we’re going to be talking about those three pillar around investment property – time, money and lifestyle – and the steps that you need to go through in order to get the most out of them by starting out on your investment journey.
A Matter of Time and Being on the Money
One of the main reasons that we got involved in investing in property in the first place was to take back our time. Because the thing is that property investment doesn’t save you time, it gives you time.
The older you get, the more importance you attach to your time. And in particular, you realise how valuable your time away from work is. One of the joys of property investment is that you eventually produce an income flow that means you don’t have to works 60 hours per week. And the long-term goal of this is that you don’t have to work at all.
The same principle applies with money. Investing in property isn’t about saving cash, it’s about generating it. Not only does the sale and rental of your properties bring in a substantial income, it also allows you to generate money in tax too.
Let’s look at a quick example. Take a couple who have a combined income of $120k Australian. They buy a property worth $400k. In terms of tax, this investment will yield in excess of $10k a year, which would work out at around an extra $200 in your pocket every week.
This would be a pretty handy earner for most people. But more importantly, that added income allows you to better enjoy the important things in life, which is exactly what we’re going to be talking about next.
Living the Good Life
With all the additional time and money that investing in property is going to actively generate for you, you’re more able to take that holiday that you’ve been yearning after, spend quality time with your family and friends, and live life to the fullest on a day to day basis.
But more than that, there’s a certain feeling that comes from owning your own property. It’s a peace of mind that’s invaluable. You’re out of the rat race, your future is secure and you’re able to start developing a real clarity on exactly what it is that you want from life.
The Bloom of Youth
So, how do you go about getting there in the first place? The first thing to bear in mind is that this isn’t a get rich quick scheme, just like we talked about in previous article. It’s about the long-game. In our own experience, it took around 15 years before we were really reaping the benefits. This is why the real key is to get started early. Don’t wait until it’s too late. Not only is this important so that you have more time later in life to enjoy the fruits of your labour, but also you’ll find it easier earlier on in life to secure the bank loans you need to make those killer investments.
We’d like to write about this in more detail in another article, but for now we can’t stress enough the urgency that young people should feel in getting involved in property investment early on. When you’re young, you often feel that you have all the time in the world, and you do! But the better you can maximise on your opportunities early on, the more you’ll appreciate it later in life.
How Investing in Property Can Save You Time, Money and Lifestyle
As you probably already know, you can’t just jump into property investment headfirst. There are frameworks that are important to follow, and structures to put in place. Start putting money aside in preparation for your investment. This isn’t as hard as it may sound. Live well within your means, save more than you earn and put in place a structured budget to follow.
Also, think about what your long-term goals, and create milestones and objectives you need to achieve in order to get there. Always remember what you’re working towards, and keep reminding yourself that the sacrifices you make now will be worth it in the long-run.
All of this might sound a little daunting, but trust us when we say that it doesn’t have to be. The most important thing to do is always be goal-setting, and working actively towards achieving those goals.
With the right help, you’ll find it really easy to action all of these seemingly complicated steps and methodologies. Seek out great advice, surround yourself with the right people who are top experts in their fields, and you’re sure to get started in property investment in the right way. Then you can start living the lifestyle you’ve always dreamed of.