Invest at the back of momentum as a property investor and then invest at the back of experiencing a journey are two very different things.
Growing wealth versus continuous effort to systematise your portfolio and being liable to endless things in return to your investments are two different realities too.
Not many who invest in property want to do the journey whilst are geared up to pay in tens of thousands to achieve an illusion called financial freedom.
Me and Ravi included given we paid for expensive training too.
By no means, we are saying we are experts at property investment as many other learned colleagues are but, hand on heart we never gave up and we have built a successful investment portfolio the hard way.
How does it feel for those who are on a journey as property investor? Well, atleast how it felt for us at Limitless Monks within our journey so far?
Hero And Zero Moments
It all started for myself and Ravi investing on few plots of land overseas in India over a period of couple of years a decade ago.
The feeling at the time was, we are those property investors who are taking our lives into our hands (certainly hero’s).
Fast forward 5 years, I still remember us talking to each other, that was one of the biggest mistake we did given there was no appreciation on our investment and pretty much is a dead capital (zeros for sure).
We committed and held to the investment though without doing anything stupid and remained patient.
There were many who said this is not what you should have done. And the emotional chips were down too.
Fast forward another 5 years and pretty much every investment tripled overseas and best part is, its debt free today.
Debt free only because, we put our heads down irrespective of any feedback from anyone alongside what time threw at us and focused on just clearing the debt.
It took its sweet time with that turning out to be better investment than any that we have ever done to date.
You will always have people who will give you the worst forecast on what you did and vice versa but in the end what you think based on your belief and research matters.
We took risk during the time and certainly we thought we failed but the patient wait for 10 complete years revealed the secret of growth. (Hero’s again)
With what we know now as property investors, we see an opportunity then that could have fetched us faster and higher returns. (Zero’s again).
The Logic vs. Desire State
Over years our desire to invest increased so we decided to learn investment techniques formally and invest with a bit of risk.
For the first time we came across a state where we were indecisive to large parts.
The emotional roller-coaster in desire to buy at all costs versus the logic of numbers to take all your money out.
Add on top:
The loss of money in first few deals due to bad judgement of build work and trusting builder who just ran away with money.
Back to drawing board where we had to write off some loss and recover some by being creative with our deals and refurbishment.
It’s a 24/7 struggle to stay on top of things and still is as property investor when you consider portfolio management.
The desire of financial freedom soon died and logic gave a strong hint and hit, that this conflict between desire and logic is a permanent fixture and what needs development is our own mindset.
The Distraction vs. Diversification Zone
There is a fine line between thinking you are diversifying your investments versus just getting distracted.
If your investments range like £100,000 of your own money in property, you pretty much haven’t reached a state where you want to diversify and are better of sticking to one strategy and gain command in that strategy.
There is a continuous mental turmoil though, to action different strategies once you have done one or two properties in one strategy.
Like it or not, diversification happens over time when you have done enough in one strategy as property investor.
Just after investing in plot of lands, we naturally got into owning the residential properties and now looking to move into conversions slowly.
Diversification in strategies will happen once you do one strategy enough.
Anything else is a distraction unless you are investing huge sums of money in higher multiples of hundred thousands.
Less Of Wealth and High On Self Worth
Working over a certain period of time, one pretty much forgets financial freedom and focus shifts from being financially free to improving the self worth by bettering ourselves each year.
Financial wealth via property builds as long as you focus all your energies on bettering yourselves each day or each period within property.
We have set ourselves 3 more years to prove ourselves capable of doing bigger conversions as next strategy.
Should that happen, days to put your feet up are well on their way just as we thought doing our first strategy.
Here is the thing though:
By the time we achieve that, we know financial freedom isn’t what we want anymore :).
The Realisation As Property Investor
Its taken 10 years to fall apart and rebuild ourselves but the concept of compound effect triggers over that period of time if you don’t lose your focus on what you planned to do initially.
For minority few, property is a business that pushes them to where they want to be quite quickly.
Taking law of averages or for majority who are driven by challenges (self or otherwise), it takes time and the only way to succeed is to play the long game and let the compound effect kick in.
Keep doing what we are supposed to do and without knowing you reach a place where you always wanted to be.
Until then keep the grind on with all the love and energy you have got and relish being a property investor.