Real Estate Investor Magazine South Africa July/August 2019 | Page 37

A re you interested in Property? Well, you have a prob- lem. Do you want to know why? Because we very rarely achieve anything meaningful when we are sim- ply interested in something, unless we are truly committed. When we are just interested in something, we are very likely to give up when we inevitably hit the potholes and the obstacles that lie on every journey worth taking. Building wealth and passive income with Property is a lot easier than a life of work, save and tax; but it is not easy. You should be running away from anybody that says you can become a property expert in one weekend… So the key to Fast Track Your Property Success is to move from being interested to being committed to your Property Success. COMMITMENT HACK #2 Remember… there is NO alternative In those very rare moments when my commitment to Property is challenged by short-term defeats, I always ask myself the same question “Carlo, what is the alternative?” and the answer is “There is NO Alternative”. Both research and empirical evidence abundantly show that the old recipe of work hard, live frugally, save as much as you can and let the “clever” people invest money for you is a fallacy. Property is the only way for ordinary South Africans like you and I to make money work for us and stop working for money. COMMITMENT HACK #3 Borrow Money I remember my experience with a difficult self-employed tenant in my first investment property in Sandton; this non- paying tenant was surely a test of my commitment to build wealth with Property. I could have easily said “this Property A great way to build accountability is to be directly accountable thing is not for me” and I see a lot of novice investors falling to an Investor in your Property Business. Once you have in this trap and selling off borrowed money from an Investor their investment properties you are immediately (ethically and as soon as they hit a rental legally) accountable to whoever collection or vacancy problem; So the key to Fast Track invested money with you. I have eventually, I stopped blaming found this “hack” to work Your Property Success is to always the tenant for my problems, great for me. I always do whatever is took ownership of my lack of move from being interested required to go back to the investor knowledge and due process and say “all is working great and I am to being committed to your ready to pay your money back”. Back on how to screen, secure and manage a tenant. Since then, in Italy where I originally come from, Property Success. my bad debt ratio on rent we say, “you wanted the bicycle, now collection is less than 0.1% and start pedaling”. I have never looked back. Here are 4 simple and a bit unconventional steps you can take to develop and sustain an unbreakable commitment to your Property Success. COMMITMENT HACK #1 Start Today Being interested in Property, but not committed to it is a risky state of mind that is often fed by the fear of making expensive mistakes. We must be aware that the so-called “planning and think about it” time as well as inaction do nothing but feed the fear “monster”. Start your Property Journey today with some small, but meaningful action. Examples are enrolling in a Property Course, talking to an investor-friendly bond broker to better assess your ability and capacity to raise bank finance or setting up a property trust for your investments. Don’t let perfection get into the way of action. “ “ COMMITMENT HACK #4 Join a Community of Property Fans No matter how committed you are, you will still have your moments of doubt and weakness. And that’s where it becomes critically important to have an external support system; being exposed to the successes of other investors just like you and understanding their winning strategies will ensure your commitment will not fade through the inevitable demands of life and the small setbacks. "Surround yourself with people that are going to lift you higher" – Oprah Winfrey. If you want more information about our PropertyHack. Club visit us at www.thepropertycoach.co.za or contact me at [email protected] CARLO MARIANI, Entrepreneur, Property Investor, Founder of ThePropertyCoach . With 16 years of experience in local and international property investment track record along with 21 years of business experience, Mariani is an expert in the sector. SA Real Estate Investor Magazine JULY/AUGUST 2019 35