Stage 1
This is the earliest phase, where property investors learn about investing
by trying different strategies and listening to every point of view in the
market.
The most likely outcome is that you are often not much better off
financially than when you started investing, even if you have been investing
for years.
Why? Because this is the phase where we make the most mistakes.
We panic buy (in a booming market).
We panic sell (when we are worried about money or need a cash injection).
We try different things, take different risks and experience a range of
outcomes.
This phase can take between 5-10 years for many property investors,
although some, unfortunately, remain stuck at this stage permanently.
You can remain stuck for a long time – until you become aware enough to
critically examine what you have done, and make changes going forward.
Another key to moving on from this step can be having someone external
to you, objectively help you to review your past experiences and learn from
them, so you can adapt your strategy and move forward.
RealRenta has all the tools that a property manager
has, but at over ¼ the cost of a property manager.
Join now and the cost is less than a cup of coffee a
week to manage your rental property
RealRenta also has a free vision, so why not check it
out
Jason Gwerder
Tuesday, 17 August 2021
