How To Make Property Investing an Achievable Goal

https://www.youtube.com/watch?v=UM_n1rdQJV4 Sometimes property investing can feel like an unachievable target and you have no idea what you're doing. Today I want to talk about how to make property investing an achievable goal and how we can make consistent steps towards our goals of investing in property and towards financial freedom. Free Property Strategy Session Advanced Suburb Research 0:00 - Introduction1:05 - How to make property investing achievable3:05 - Bite sized pieces of property4:44 - The skills you need to acquire13:04 - Focus on what's next for you16:32 - When you're in a rush you can make big mistakes20:08 - Invest into learning21:24 - Free property strategy session Recommended Videos: Stop Being in a Rush To Be Financially Free The 15 Minute Budget The $1,000 Project Book Review (By Canna Campbell) Canna Cambell Podcast Episode Ben's Video on Suburb Research Debt Cycles by Ray Dalio Transcription: Ryan 0:00sometimes property investing can feel like a completely unachievable target it's so far in the future it's so hard to save a deposit you don't know what strategy to use or really when to start with property you have no idea what you're doing and it can get overwhelming so in today's episode i want to talk about how to make property investing an achievable goal and how we can break that down into bite sized pieces focus on that and make consistent and dedicated steps that move us towards our goals of investing in property and ultimately towards our goal of financial freedom or whatever your financial goals may be anyway hi i'm ryan from onproperty helping you on your journey to financial freedom and you may notice that i have the beautiful ocean in the background i've got the van working at the moment so i now have a mobile office which is really cool and i can work from anywhere so coming at you today from the beach side really excited to do that so let's talk about how to make this achievable and this can be applied to property it can be applied to shares it can actually be applied to really any sort of task or anything big that you want to achieve in your life and this idea while i've been applying it in multiple areas of my life i kind of got this idea sparked by a recent podcast i listened to from kenny campbell from sugar mama talking about how she created the $1,000 project which i've done a book review on so i'll link up to that down below as well as i'll link up to this podcast episode i'm talking about but she was talking about how she was in a stage in her life where she just been through marriage breakdown she was in a bad financial situation in quite a lot of mortgage debt and really struggling to pay the bills and i really resonated with that because i know exactly how that feels i was in that position 18 months ago or even 12 months ago and have been consistently working my way out of that but she talked about how she did it by breaking out this mammoth task of actually getting on top of your finances into smaller goals and so while that's the premise of today's video i will be talking also about i guess little ways that you can approach each of these different tasks when it comes to property investing so you can actually get more out of it you can move forward faster you can make better investment decisions as well so the very premise the basics of it is let's actually look at this massive goal this overwhelming thing of investing in property and let's break it down into its smaller bite sized pieces and one of the cool things is is then you can focus on exactly where you're at now so property can be broken down into loads of different bite sized pieces and if you look at it i guess um what's it what's it called when you go in time in sequence oh my gosh am i my mind you know what i mean though from start to finish if you look at the start it really comes down to starting with you got to learn how to manage your personal finances and budget and be able to save then you've got to save your deposit then you need to know how to time the different markets so time the australian market time the markets of the region or the city that you're going to be investing in then you want to understand the different regions within those cities then you want to be able to do suburb research then you want to be able to go granular on the suburb and find the best street within this other then you want to be able to analyze properties and understand what market value is and whether our property is good in there which i forgot to mention is you also want to put in actually choosing a property strategy that could become before or after the overall looking at the market you want to get a strategy that's right for you that's going to lead you towards your financial goals strategies got to be in there you've got to learn how to get granular on this other you've got to learn how to understand market value for properties then you got to learn how to actually inspect properties and look at properties you'll learn how to talk to real estate agents and how to negotiate with them then you got to learn how to close on a property and how to do your inspections and your settlement and then you've got to learn how to actually run that property and if you're going through the two properties to financial freedom strategy you've also got to learn how to actually build a granny flat on that property and then manage that so that you get the two rental income so as you saw we took one big thing which is property investing and we broke it down into lots of little granular steps and what's really interesting about this steps and while you know breaking it down is kind of a really simple idea what's not really talked about is the fact that each of these steps this skills that you need to acquire that you highly likely don't have it's not something that you're just born with it's not something that you can understand overnight it's something that you need to learn and you need to practice and then you need to adjust in order to get better so each of these steps that you break down and in turn you can go even more granular than i do or you can look at it you know less granular but each of these things is a skill in and of itself so if we start at the very beginning managing your finances and learning how to budget a lot of us talk about that as if you just need to watch one youtube video on how to do it and then you're done but no it's much harder than that and managing your finances there's a lot to learn but it's also a skill that you need to practice over time just like riding a bike where you fall down with managing your finances you're going to try it you're going to fail you're going to fall down you're going to spend money when you shouldn't have you're going to get into debt when you shouldn't have you're going to not earn enough or not prepare for a bill and but each of these times that happens you can learn from that example and get a bit better so i think we're kind of cutting ourselves short we're stopping ourselves from progressing and getting better at things because we're not taking each of the little failures that we have learning from it and actually growing in that skill and one of the really interesting things as well is that as you break this down into its different sections as you start to learn these skills over time this skills that stay with you throughout time i remember a couple of years ago i was doing a lot of suburb research for my clients i was finding positive cash flow properties for clients and i was looking in depth at different suburbs and whether they looked like good suburbs to invest in or if they had red flags because obviously you know you don't want to be investing in an area that high risk and so i was doing a lot of this other research i haven't actually done a lot of it in the last year or the last two years in terms of that granular suburb research and i recently just watched a video from ben everingham at pumped on property hemocyanin talk about this other research which is super similar to the way i do it so i'll link up to that video down below that's really useful but i haven't done it in a number of years but i'm getting closer and closer to the point where i'm actually looking to invest and going to be doing my own suburb research again and while i may have got to be rusty with those skills while i may need to brush up on it this skills that i actually have i remember so much of what to look for i've created checklists for myself i've even got many instructional videos in my course on advanced suburb research that i can go back and watch just as a refresher if you do want to check out that course on exactly how to do some research and the instructional videos where i talk through it go to onproperty com au ford says suburb and you can learn how to do that i'll link up to it down below as well but that's a skill that i have it's one that i'm a bit rusty and need to brush up but mostly it's there and it's only going to take me a little bit of time when i'm actually ready to invest to brush up on that skill to put in the work and to find the good suburbs i've built up that skill and now i don't need to worry about it as much same with managing my finances i was really bad at managing my finances i've been working diligently on that for last two years been over two years now and have definitely improved in this area to the point where a lot of managing my finances is actually unconscious i don't think about it i just do a lot of the best practices because i've been doing it for a number of years and i've made so many mistakes along the way the same when it comes to picking a market and picking a market that's not at the top of its cycle i've learned over the years how to identify a market that's at the top of the cycle how do i identify a market that looks like it is reaching the near of its peak and likely to decline in the...