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In This Video:

00:18 The Three Parties to the Success of any Property Investor
01:01 People that help you
01:30 The Market

G’day there. Daimien Patterson here from Integrity Property Education. If you’re looking into property investment, property investment advice or property investment strategies, you’ve come to the right place.

The Three Parties to the Success of any Property Investor

Today’s video is about the three parties of success of any property investor.

First of all, when investing in property, it’s important that you understand that you are only one of many players that will contribute towards the success of your property investing aspirations.

The first party to the relationship is of course, you. You need to be prepared to learn what you need to learn, and you need to be prepared to take the action that you need to take. That’s often what stops a lot of people from being successful, because their psychology is not right and they don’t understand what they’re doing and therefore they don’t act with confidence in regards to what they need to do.

People That Help You

The second party to the relationship is going to be those people that you get to help you. You’re going to go and ask people to help you with research. You’re going to ask people to help you find properties, you’re going to ask people to help you with finance, you’re going to ask people to help you get insurance. All of those things, rental managers are going to help you. All of those other people, they’re the second party to the relationship. They are required to do their very best efforts for you, but the one thing that they can’t guarantee to you is what the market is going to do.

The Market

The third party to the relationship, is of course, the market. Now, it’s wrong of any investor to expect that those people who are helping them are going to be able to guarantee any results. This is why it’s very important that you, as an investor, accepts full responsibility for every decision you make. By all means, go and get all the advice and help of others but keep at the back of your mind that none of them can guarantee anything. A broker cannot guarantee you that interest rates are going to stay down forever. A researcher cannot guarantee you that the information they have researched is guaranteed to happen, or that came from a reputable source. All of these things are part of the risks of a property investor. So I guess the main thing to remember then from that is that you must have a really solid risk management plan when investing in property, always have lots of cash available in the buffer, in the reserved. In case the market goes the wrong way, in case things don’t go as planned, and insure everything.

Until next time, that’s it from me today.

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