Now is not the time to become complacent. I really want to stress the importance of continuing education in the Property Investment field, because there is always more to learn – and if you think you know it all, that’s when you are most likely to get into trouble.
Attend more seminars and keep learning
I have attended many courses and seminars on subjects as varied as renovating to lease options to predicting the property cycle to personal success. I may not have used all the strategies I learned, but I always found something useful in each and every one of the seminars I attended. I also crewed at a few property-investing related seminars and similar events, which was a great way to give something back, plus I learned something new every time. Being part of the crew at these events also put me in the room with many like-minded people, which without a doubt has to be one of the keys to success in any area.
It’s also worth mentioning that although I am not much of a book reader (and yet here I am writing one!), I always read Property Investor magazine from cover to cover every month. There are also a number of DVDs about property investing that are relatively easily available (visit www.propertytutors.com and go to Products) and I watched as many as I could get my hands on. The DVDs in particular really appealed to me because they only took a few hours to watch and were brimming with excellent information.
By keeping my mind open to the possibility of learning more, instead of adopting a ‘been there, done that’ know-it-all attitude, I’ve been exposed to many opportunities that would otherwise have passed me by.
Become a mentor and teach others
‘Sean,’ he said, ‘you’re doing some pretty hot deals out there and it’s clear that you know what you’re doing. I need an extra coach and I think you’re just the man for the job!’ He’d obviously noticed me at the mentoring programme, and when I crewed at seminars and attended related courses and knew who I was and what I was all about.
Property investing was only taking up a few hours of my time every week, and there was only so much golf and fishing I could do when most of my mates were working (i.e. they had JOBs, an acronym for ‘Just Over Brokes’), so I said yes to his offer.
The idea of becoming a coach was also attractive because I wanted to make a contribution and show others what I was doing and how they could do it, too. As it turned out, being a coach kept me involved – and motivating others in turn motivated me to keep doing what I was doing. It’s been said that the best way to learn is to teach somebody else, and it has certainly been true for me. By explaining things to people in my coaching group it reminded me of certain strategies and techniques that I already knew but may not have been applying.
The above post is based on the book “The 15 Million Dollar Man” by Sean Wood, to read more click Property Investment and download 2 free chapters.
|For further reading on Property Investment NZ, click on the articles below:
Setting Goals for Financial Independence – click here
Tips for Becoming a Property Expert – click here
Buying Rules for Property Investment – click here
5 Tips to Add Value through Renovation – click here