Property Investors and Landlords are not the same.
Not many people realise that being a property investor and being a landlord are two completely different things.
In one scenario there is a high chance that you’re strung-out, strapped for time and putting more money into your property than what you’re getting out of it.
In the other scenario, you’re managing a wealth creation portfolio that is growing year on year and producing high yields and great returns.
If you have rental properties you will either fall into the first scenario which is that of a landlord, or the second which is that of an investor.
And while the second scenario is most definitely more appealing, so many people can’t quite seem to reach investor status.
The Investor Mindset
This is not because you need to study or achieve a degree in property, in fact you don’t even have to work in the industry – what you do need though is an investor’s mindset.
An investor’s mindset is a business mindset. While landlords micro-manage their properties and want to fix every leaking tap themselves, investors prioritise and prize their time like they’re running a Fortune 500 company.
They employ serious strategy and don’t leave the potential of their portfolio to chance. They know they need to commit to their investment plan for the long-term in order to maintain sustainable and healthy results.
Landlords VS Investors
This may sound like hard work but it’s actually a more efficient and worry-free way to achieve great success from your property endeavours.
Unlike landlords who focus on putting out fires, investors keep their eye on the bigger picture. Their job is to give direction and to lead.
Just as a good business owner allocates and delegates to a team of capable and clever professionals to get things done and move the company forward, so too does a good property investor when it comes to managing his or her portfolio.
Appointing key roles such as the right property manager, property coach, financial planner and more, will ensure that everyone is on the same page to achieve your desired financial outcomes quicker than you ever could on your own.
Get your hands OFF the property!
If you want an investors result, you can’t act like a landlord.
For some this means being completely hands-off the physical property to ensure you can buy in the best location in order to get great tenants and better rents.
A good property manager is trained to manage your rental in a way that maximises your property’s potential to grow, without you having to freak-out about all the nitty-gritty details that simply takes away precious time from your day which in the long-run can take up to weeks out of each year.
You must be willing to bring on the right team of experts, have a clear plan of action and let everyone get to work.
Become An Investor
In order to be successful in property, you need to have an investor’s mindset.
They know that real estate can be used as a wealth creation vehicle to obtain real financial freedom.
To learn more about how to adopt an investors mindset and understand the key people you need working for you, join our free property investing seminar.
You’ll learn the traps that landlords fall into, and how to protect your assets from the pitfalls and most common mistakes that people make in real estate.
Spots are limited so book now using the form below.
Sue Irons
Director – Positive Real Estate NZ
Property Investor Night – free tickets!