How To Set Property Investment Goals For The Decade

https://www.youtube.com/watch?v=8-Vr6W_NpAE They say you can achieve less than you think you can in a year but more than you think you can in a decade. Here are some tips on how to set your property investment goals for the next decade so you can achieve everything you want to and more. Book a Free Property Strategy Session 1: Where Are You At Now and What Are You Unhappy With? - 3:00 2: What Do You Want Things To Look Like? - 10:00 3: What Numbers Do You Need To Make That Work? - 10:50 4: What Is It Going To Take To Get Your There? - 15:10 5: What Is a Realistic Timeline? - 23:37 6: What Is The Next Immediate Step To Get You There? - 28:34 Recommended Videos: 2 Properties To Financial Freedom How To Create Property Investment Goals For The Year Transcription: they say that you can achieve less than you think you can in a year but more than you think you can in a decade in this episode I want to talk about how to set property goals for the next decade of your life for the next ten years so that at the end of the next decade you can be sitting exactly where you want to be and have moved financially forward because the next decade is going to pass whether or not you set financial goals whether or not you move towards those financial goals in a decade's time you're gonna be 10 years older and you can either be 10 years older and more set up financially to have a better decade after that or you can be 10 years older in the same position that you're in now because generally speaking with finances if we're not diligent if we don't actually set the path ourselves and say this is where I want to go this is what I'm going to try and get to generally we don't really move along we just stay on the rat-race we continue to work in jobs we have credit card debt and we just end up in a situation where we need to work in order to survive so if you want to get out of that rat race if you want to start moving forward financially over the next decade then this episode's going to be for you hi i'm ryan from on-property helping you achieve financial freedom and the last decade has definitely been a big one for me I'm about to turn 30 - so a decade ago I was 21 now I a decade ago I didn't have any children so I would have been well my wife at the time would have been pregnant with our first child who is about to turn 10 and so much has happened in the last decade for me my goal was always be financially free before I was 30 to be a millionaire I kind of achieved one of those like I achieved pseudo financial freedom at the age of 28 I call it pseudo financial freedom because I achieved financial freedom through my online businesses so I had a couple years there where I didn't need to work because my businesses just generated enough money without me but the internet changes and over time that was no longer the case so I'm now back working again but a lot change in a decade looking back me at 21 with no children and now nearly 32 with three children and you know so much has changed as well financially and so much has changed in my career I've been fortunate enough to run my own online business for the last six or seven years and done that quite successfully but where do I want to be in the next 10 years so I'm going to talk in this episode about how you can do your financial plan for the next decade but then I'm going to use myself as an example and kind of go through some of the things that I'm thinking about so you can get an idea of how this actually applies practically as well so the biggest thing well there's a lot of big things here but something that we need to do is to actually start where are you at now what's your situation now but also what are you unhappy with with that situation now talking about financial goals for the next decade I'm not going to be talking about you know those big I want to be a millionaire I want to be a billionaire those kind of lofty sort of dreams I want something that's really concrete and something that if I actually achieve this in a decade time I'm going to be really happy now I can exceed this of course if I decide that I want to work really hard for that or if things go in my favor I can exceed this but I guess as a bare minimum this is kind of where I want to be in a in a decade's time and so I start by looking at where you're at now and what you're unhappy with it can also be helpful to look at you know where have you come from and what you've achieved because sometimes looking at where we're at now can be a bit depressing because it's not exactly where we want to be but looking at myself and where I'm at now I've got a good solid income from my businesses that is growing and I'm working on growing yet still the majority of my income from my business is passive income that I don't need to work really hard for but there is an element of that that I do need to work hard for and I am also working a second job as well for short-term cash flow so that's kind of where I'm at now I'm in a bit of debt because of a bunch of things that went on over the last couple years so I'm in a bit of debt that I'm paying off and that you know is kind of stripping a lot of my cash flow in the short term and that's quite difficult so in a situation where I'm earning good money but I'm really cash-strapped because I am trying to pay off this debt as quickly as possible and that's kind of a burden on me so in a situation at the moment where over the summer break I've moved back in with my dad's I was living you know in my own place as as people do and the owners decided they wanted to move back in so come back here for a couple of months to just kind of consolidate resources continue to build up my business and then move out again once things pick up because you know the December January February is really slow for me anyway that's kind of an idea of where I'm at now what am i unhappy with with where I'm at now now what you're unhappy with can be financial you can do it as numbers on a spreadsheet or it can just be how you feel about your life and whether or not you have the time and the money to do the things that you want to do so for me where I'm at now and I kind of think of okay what does my life look like what am I happy with what am I not happy with so what does my life look like at the moment well as I said I'm working a second job part-time for that immediate cash flow because a lot of the work I do on my business takes you know six to twelve months before it actually starts paying me any money so I need that short-term money and then work on the business for the long-term growth so my life now is like Monday Tuesday Wednesday I'm working in a job that are not super passionate about it's a very social job which is great but it's not something that I'm like all this is my core passion it's not something that is career development either so yes my way dry my incomes through my business I have that so this is just a kind of short-term thing and a social thing but Monday Tuesday Wednesday is taken up by that I start early I finish around lunchtime and then come home and work on my business I'm often working into the nights on my business as well so Monday Tuesday Wednesday or then work you know until that downtime and then Thursday Friday I have my kids and so there at school then I'm dropping them off at school working during the day having them in the afternoon and then when they go to sleep at night I'll try and squeeze some work in and then Saturday will be my day off where I'll have my kids and I'll hang out with them and do whatever it is we're doing Saturday go to the beach or hang out go for coffee you know just chill at home if it's a chill day whatever and then Sunday I'm actually working all day on my business at the moment so I'm actually working six days a week doing quite long hours and also don't have the location flexibility that I used to have so previously I've lived in a van previously I've lived in everywhere from Sydney to Newcastle Central Coast Gold Coast noosa moved around a bit and also could kind of go away when I wanted to and when just suited with the family whereas obviously when you have a job you don't have that flexibility because of your shifts on Monday Tuesday Wednesday you kind of need to be in location Monday Tuesday Wednesday now obviously kids are at school and so I've kind of location bound anyway but me and my partner have split up and so some days I don't have the kids and I would like to be free to go up to the Sunshine Coast to hang out with Ben the buyer's agent from pumped on property who I do a lot of content with and work with and so I kind of want to get back in that position where I've got that flexibility or also you know kids can come in holidays too so taking them away as well so I want to really want to get back to the place where I'm working full-time for myself and I've got that flexibility in my life and also like I would say I'm burning the candle at both ends and so working a bit too hard so it's just kind of a short-term stint at the moment to pay off that debt and also to build up that income through my business so that that becomes self-sustaining and self growing as well and then I can continue on my financial journey so what am i unhappy with I say all that to say that I'm kind of unhappy with how much I'm working at the moment and how inflexible it is as to what I'm working on and what needs to get done so this kind of feels a lot of pressure on me I've also got financial pressure with the debt that I'm paying as well so all up that's not that that exciting we've just had school holidays here over the summer break and avoided that school holidays I've had to work through school holidays and had to send my kids to vacation care so that I could work rather than being able to take two weeks off and take them away I wasn't able to do that this holidays which I'm really unhappy with it's what needed to g...