Think about it. Sure, you’re busy with the kids, running them around and you feel like you never stop, but you always have time for more. That’s the key difference between us Stay at Home Moms and our main bread winning partners. We can always fit more in. So, it makes total sense that we take on the role of wealth building, property investor, within the family unit.
What does it take to buy the right investment property to create a real difference to your financial future?
1. A good household income and or equity in the family home.
2. An understanding of the local property market and how to identify a good deal that will suit your goals, your budget and your lifestyle.
3. The time and energy to inspect and research appropriate properties.
4. The ability to undertake minor cosmetic work like painting, gardening and generally tidying up the property, preparing to sell or rent it out. Also, the ability to co-ordinate tradespeople if and as required.
YOU can do all that. Sure, you’ll have to juggle a few more things, but you already rock at having five things going at once and you rarely drop the ball. You’d love to know you’re creating income for the family without having to get a regular 9-5 job.
Investment property, if done well, can make the difference between an ordinary life and one filled with so much more opportunity and freedom, both for you and your children. It gives you choices.
As women, we tend to prefer property to other forms of investment because we can see it and even insure it. It’s more tangible. We have more of an emotional attachment to it, though this doesn’t always serve us well and in fact, I spend a huge amount of time coaching my clients exactly that: to remove their emotions from the property buying process.
If you want to make a quick buck then it’s likely you’ll follow a high risk strategy and that won’t always work out for you. However, If you want to invest for the long term, then assuming you do your research, know your market and buy well, you’ll have a safe investment. The way I often look at it is that if you have shares and the market crashes, you could potentially lose everything you’ve invested. If you had a house and it burnt to the ground, even if you didn’t have insurance, you still have the land it was on, as an asset. Regardless of that, even if a property’s value decreases in a slow market it will NEVER be worth nothing.
Next time you’re thinking about how you spend your days, think about whether you can use your time more productively, for the good of the whole family, to build a property portfolio that will serve you for years to come.
Tonia Krebs – Property and Lifestyle Coach. http://thepropertylifestyle.com/
