I was at a property event yesterday (attending as a delegate) when during one of the breaks, another delegate on our table asked everyone if they were full time or part time property investors? I must admit, I had to think about the answer for a few seconds.
I consider myself a professional investor because I make my living from the rental profit from my property portfolio, but I don’t spend all of my time doing property investing. Far from it! A number of years ago I decided to delegate all of the management of my portfolio to other people because I did not want to become a property manager or letting agent.
If I had to manage all of my property and tenants that would be just like having a job. I was fortunate enough to be able to leave my full time employment at the age of 32, thanks to the income from my property and at first I did manage my property myself. I soon found that this took up too much of my time. I would much rather be using my time in another way, and for me that is what property is all about, the vehicle to give you financial independence so you choose how you spend your time.
This simple question yesterday got me thinking!
Do people aspire to be full time property investors, spending all their time doing property related activities, or is it actually the case that they just want to income from property, so they can spend their time doing what they want?
I would suggest for most people it is the later, although I do meet lots of people who say they love property investing.
So I guess the point of this blog is to get you to think about what do YOU really want and help to focus your thinking. I believe you can be a successful professional investor very much part time.
People often mistakenly believe that they need to spend all of their time doing property in order to earn a decent income. I often hear this miss conception used as an excuse by some people working full time, as to why they can’t invest in property because they think they just don’t have the time. The truth is that we all have the same amount of time every day and it is down to us to choose how we spend it or invest it.
Since I launched the first Property Mastermind Programme in April 2007, I have seen that some of the most successful delegates have been investors who also have very busy full time jobs and yet still they have still managed to achieve incredible results in just 12 months. This is because they have had to be very focused in the limited time available.
I also know many “Full Time” property investors who don’t seem to achieve as much as they expect because they waste a huge amount of time, working on things that won’t actually move them forward, getting distracted too easily and allowing tasks expand to the time available.
In conclusion, I don’t think you need to be a full time property investor to be successful! That is as long as you work smart, and get a good power team around you to help to on your property investing journey. You don’t have to do it all on your own.
It is amazing how many amateur property investors waste a huge amount of time trying to do things on their own, reinventing the wheel, instead of learning from people who have already been there and made all of the mistakes.
There is so much information available to help you fast track your property investing success. Whether you prefer books, webinars, seminars, or property network meetings, all of this knowledge and help is widely available at a very reasonable investment, and is designed to help you make the most value of your valuable time.
So educate yourself: take action on what you learn; and keep going until you get the desired results.
Founder, property investors network