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Property Starter Tips Inspired By Madonna

Phone convo of the day: Enquirer in his 50s panicking about having no financial safety-net.  He feels that he is not clever, learned, informed, brave enough to invest.

Here we are thinking, 

… and Madonna went to Catholic school, what is your point?

We are going to keep saying this until your ears fall off, “You are entitled to the financial future you deserve.”  And again, “You are entitled to the financial future you deserve.”  It is never too late to start.  We know this story has been doing its rounds in the blogsphere for YEARS, it is still worth repeating: This guy Ray Kroc was over 50 years old when he started his first restaurant.  You may have heard of it – it is called McDonald’s.

So how do you becoming deserving of a sound financial future?  Magnanimous that we are, we have decided to throw you a bone and get you started.

1. Drum up some confidence 
Trust us when we say this – you don’t need a degree in nuclear physics nor do you need Madonna’s war chest to achieve property success.  Most property wisdoms are based on everyday common sense and most investors start their journey with nothing more than salaries from an average 9-5 job.   
2. Set realistic financial goals 
People are intrinsically forward looking, it helps to be able to visualise where you see yourself in 5 years’ time, in 10 years and so on.  It also helps to set yourself a number of realistic and achievable milestones that will lead you to your ultimate goal.  Before you go aimlessly wandering in the desert, get yourself a road map.  
3. Research 
Thanks to the God that is Google, information is readily at your finger-tips these days.  Property knowledge now comes in an array of packages.  Blog, vlogs, videos, Facebook interactions, tweets, online forums, seminars, presentations, news items, television programmes, (*shameless plug*) property investors’ associations you name them, someone’s got them.  The biggest investment vice you can commit is to shut yourself off from good quality knowledge.  Notice we said good quality knowledge.  For every piece of good advice out there, there is a piece of bad advice that can only be characterised as nothing more than ar*s-gravy.  For tips take a look at our guide on How Not To Be a Sucker.

4. Get off your lazy bum-bum 
It took Hamlet three Acts to … well… act… and look where that got him.  Remember how when you learned how to ride a bike you fell off a few times?  Building a financial future is a lot like that, you are going to fall off the bike a few times.  Big whoops!  Get up and get back onto it.  Go out there, make offers, run your own rentals, just do something.  Don’t ever aspire to being Hamlet, be Lance Armstrong instead.  Oh wait… maybe not.    
5. Build a property dream team 
You can’t be everywhere and do everything but you do have to make your own decisions.  There is, at least in Auckland, no shortage of capable property professionals who can advise you and help you along the way.  Depending on your needs, a property dream team can consist of: an accountant, a lawyer, a valuer, a surveyor, a builder, a property manager, a mentor (or a good friend).  How do you sniff them out?  Ask around, look for recommendations, speak to these people before you engage their services. Be honest and frank about where you are at the moment and where you want to be in the future – as long as you do your homework you will be in good hands, clever people will have your back.  
Since we are talking about everyone’s favourite Material Girl, it is worth mentioning that her unique success and longevity come from years of unshaking confidence, countless reinventions, casual adaptability, all mixed with a healthy and ironic dose of 80’s tackiness.  Let’s be honest, to wear a pointy bra in public back in 1990 and still managing to captivate people’s attention in 2013, the girl must be onto something right?

Finally what about one last cheeky hurrah for the road aye? 

You are entitled to the financial future you deserve.  
So go get it!
For those of you who are reading out of amusement rather than necessity – what are your property starter tips for newbies out there?  Comment reply below!

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