“I don’t have the CAPITAL”
The good news is, this is a myth. In most of the deals that we do, we never use our own money, we always leverage OPM (other people’s money). To overcome this obstacle one needs to change their mind-set and believe in abundance of money. There is more than enough money in South Africa for any deal you can think of. There are millionaire and billionaire investors who are dying to invest in a secure asset like a property. Remember investors are looking for one thing, a good return. If you find a good deal, one that promises a good return, you will have no problem finding investors.
Don’t waste your energy focusing on how you will get the money. Focus on finding the deals and the investors will find you. Remember this is a business where you are providing a service to an investor. You are not looking for charity or begging for scraps, you are providing investors an opportunity to increase their returns and build a stronger business.
My advice is; find deals, put together professional investor proposals, attend as many networking events as possible and don’t be afraid to get a NO. Every no gets you closer to that first YES!
“I don’t have the TIME”
The funny thing about life is that we don’t have the same opportunities and we don’t have the same resources. Some people are born with a silver spoon in their mouths and some people are born in the depths of poverty. Life isn’t fair, but the only thing we have in common is the amount of time in the day. Everyone has the same 24 hours and that is universal, the only difference is that successful people utilise their time better. Most people in the property game are still fully employed – which is a good thing because it helps them get finance from the banks. In order to free up your time you need to create systems. The property game doesn’t happen overnight and requires you to plan your week ahead of schedule. If you don’t have enough time, then you need to sacrifice an hour of sleep every day. Wake up 1 hour earlier and hunt property24 until you find a good deal. Spend time over the weekends going to show houses and building relationships with your Estate Agents.
At the end of the day people always have time for those things that are important. If you don’t have time for property it means that you have not prioritised property. If you want the results, you are going to have to reprioritise your personal agenda. My advice is to track your time for 2 weeks and see where are you spending you time. Determine what you can delegate and where can you save and reinvest time.
“I don’t FEEL like it”
Most people want the results until they realise how much hard work goes into the property journey. I’ve seen it countless times, where a person is fired up and hungry for deals… a few weeks pass and they realise it’s tough and they slowly fall back into the routine of their day-to-day jobs. Forgetting about the reason why they started and accepting mediocrity as the status quo. It’s a sad thing to see and unfortunately we see it quite often. To overcome this you need to review your goals, vision and your why.
How serious are you about this? Because it’s a hard, lonely journey and if you don’t have a strong enough purpose behind it, it’s easy to lose focus and fall behind. Make sure you know what your why is and have an accountability partner who will not let you drop your dreams when the going gets tough.
Property is a difficult game, but it’s easier when you have the right team, support and network.