Let's Get Real by Luke Harris & Matthew Bateman

Author:Luke Harris & Matthew Bateman
Language: eng
Format: epub
Tags: Property Investing
ISBN: 9781925283181
Publisher: Major Street Publishing
Published: 2018-02-05T05:00:00+00:00

These are just some of the considerations, but on top of these there are so many factors to consider that you need to be aware of. The she’ll-be-right approach could turn your little offroad adventure into an offroad nightmare!

Don’t panic!

Australia is a massive country. While city folk are used to having good roads, almost 100% mobile phone coverage, fast internet access and help nearby, in rural areas you don’t have the creature comforts that we have become accustomed to.

For example, in the bush, if you are 100km away from the nearest sealed road and your vehicle gets stuck, you will have no phone signal and even on CB radio you might not be able to make contact for some time. You have limited food on board and not much water. You have to deal with weather conditions and even wild animals that might want to eat you, or bite or sting you. Things can escalate pretty quickly in these types of emergency situations because people panic.

When people panic, their rational and logical thinking goes out the window and emotion takes over. It’s human nature, and it has been proven time and time again when swimmers get swept out to sea, panic and end up drowning.

Even experienced off-road drivers can find themselves in sticky situations, but the most experienced have learned over time exactly what to look out for, what to pack, and how to best prepare the vehicle for the challenge ahead. Time and time again it is the inexperienced who typically get caught in situations that could have been avoided or better handled.

It’s no different with investing

They say a journey of a thousand miles starts with a single step – and most people see that as a call to action to get started on their investing journey – but it should really start with a plan. Even with a plan, there will be challenges along the way as the image overleaf shows. Reality rarely goes according to plan.

They say failing to plan is akin to planning to fail, yet so few people take the time to plan out their investment journey. We travel all around Australia educating Australians on how to get better results from property investing. We frequently ask the audience, ‘Who here has written down a clear wealth plan mapping out how they are going to create the financial results they desire, and by when?’

We are lucky if one or two people in a room of any size admit that they have one. And even then, when pressed, their plan may not actually be written down. They assure us that it is in their heads and they know what they want to achieve. Yeah, right, let’s get real!

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