Property Investing: People Have 2 Reasons For Not Doing It...

by Peter Stanley

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Word Count: 722 Character Width: 60 Resource Box: Peter Stanley at www.bookshaker.com

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Property Investing: People Have 2 Reasons For Not Doing It...

- by Peter Stanley

(c) Property Made Simple. All Rights Reserved. http://www.bookshaker.com

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Most people have 2 reasons for doing things, the one theyll tell you and the real one.

I was talking with a group of people this week about investing in property and they all said that the reason they dont invest in property is because they dont have the money.

When I probed a bit, I found out that there were other reasons.

When I was a teenager, I loved to window shop, looking at all the things that I would buy if I had the money. Even when I got older, Ive been known to test drive cars I couldnt afford, just to see if theyre really worth the money. It takes some confidence, but is a good way to spend an afternoon.

So whilst I didnt have the money, I knew just how short I was, the various options and the best place to buy what I wanted. It didnt bring it any closer, but at least I knew how big the gap was and made spending my Christmas money much easier in the January sales.

Talking with these people, I realised that even if they had the money, they wouldnt rush out and buy a house. One of the questions they asked me was how I found the deposit for my first property, which isnt the right question, as my financial situation is likely to be totally different to the questioner.

Dont get me wrong, theres nothing wrong with being wary, all Im saying is that you should know what the real reason is.

I often play a game with some of my friends at answering the exact question they ask, rather than what they mean to ask. For example, I may have a car wheel in my hall and they ask what it is. Now its fairly obvious what it is, but what they mean to ask is what have you got that for.

It may sound like mumbo jumbo, but if these people had said that they wanted to get into property, but didnt have the money yet, theyd have been a whole lot further along their journey to becoming a person of property.

Sometimes people expect me to convince them of the reasons for investing in property, and whilst I used to do this, Ive given up. Im more than happy to help anyone who wants to get into property, especially if theyre buying lunch, but to be able to help someone they need to want to be helped.

If theyd asked how much they needed, what knowledge they needed and the pitfalls, then wed be cooking on gas.

Its really hard to get answers to the real questions, if you dont know what they are.

I know, it took me 5 years to realise that I was scared of the risk and that knowing all the pitfalls would help me avoid them, but only when I took the jump would I know for real. Sometimes in life, we can run through numerous "what if" scenarios, but only by taking action will we know how it turns out.

Im not saying that you should all invest right now, just asking you to think about the real reasons.

Talking of getting the knowledge, I know a 17 year old, who spent 2 weeks on work experience with a property developer, attends property investment workshops and is so keen to understand how to invest in property that she emails me weekly to ask what Im up to.

I offered to take her to an auction in London next week and shes said that she wants to be there at the start, even though the property Im interested in wont come up until 2PM. Her reasoning is that she wants to learn as much as possible.

But this concept applies to many situations. Have you ever been in a negotiation and got the feeling that the point youre negotiating isnt the real issue ?

Only when you find out the real reason can you start to reach an agreement.

Sometimes people dont know the real reason themselves, so it can take some time, but the technique of saying, OK, lets imagine that you came into some money, what would you buy ? This gets them past the mental stumbling block and allows you to probe for the real reason that they dont want to take action.

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KEYWORDS: houses,price points,property investing,investing in property,property market,invest in property,property made simple,peter stanley

Ever Fancied Sacking Your Boss and Becoming A Property Tycoon? Written in simple, plain english, Property Made Simple gives you the tools, confidence and know-how to make your dreams come true... http://www.bookshaker.com/product_info.php?products_id=129