Having been a busy fool myself in the past, I am now a great believer in only doing the things that I am really good at and enjoy. Why do so many people struggle to do things that they aren’t very good at or don’t enjoy when instead they could get someone else to do it who would probably do a much better job and much quicker?
The reason is often money, or rather a scarcity mentality. It is true that people with a poor mindset will spend their time to save money. Because they don’t have much money, wherever possible they try to conserve what little they do have by spending their time instead of money. This is a false economy. Successful investors with a Rich mindset realise that their time is actually their most valuable asset and so will spend money to save time. This is a very important distinction that many investors unfortunately don’t get.
A classic example of this would the investor who goes out and successfully finds a great BMV property that needs some work doing to it. Often projects can overrun and become more expensive than planned and so the investors decides that to save money he will paint the property himself instead of paying a professional decorator to do it. Although this may take two weeks of his time the amateur investor is happy that he saved £800 on the job. But did he really make a saving? In cash terms yes, but at what true cost? The money that was saved cost him two weeks of his life that he will never get back. Maybe he could have earned a lot more money by using those two weeks to go out and find another great deal that he could have sold to another investor for a lot more than the money saved on the decorator.
So my question to you is: Are you using your precious time wisely? Are you just doing the tasks that you are really good at and finding other people to help you with everything else? A great book that really got me thinking about this is The 4 Hour Work Week by Timothy Ferris. You may not take things as far as Timothy but it certainly got me thinking.
Your time is your most valuable asset. One of the delegates on my One Day Property Investing Quick Start seminar recently said in his feedback that he had learnt more from me in that one day than he had learn in an entire year trying to pick all the information up for free on the internet. This particular delegate was kicking himself because he could have been buying properties no money down a year ago instead of wasting time and opportunity because he did not value his own time and did not want to spend £500 on a one day seminar. When you come on one of my seminars you are not just getting one day, you are getting the very best bits of my 15 years of experience. I also like to make it risk free for delegates such that I offer a 100% Money back guarantee if you don’t think the seminar is everything you expected and more. Interestingly no one has asked for their money back because once people are on the seminar they realise the value they receive is far higher than the investment they make.
If you have not attended one of our one day seminars I run them every month in either London or Birmingham. If you are serious about wanting to make good money from property investing then you should consider attending them. Full details are here:
Property Investors Network