Many investor gurus and seminar presenters talk about the glamour of property investing and portray pictures of financial freedom without working, early retirement and using property investing to get out of a dreaded J.O.B! While all this may be the ultimate reality of a successful property investor, initial hard work, continual education and mindset is the hallmark for a successful investor.

Most people work 9 am to 5 pm in a job they are dissatisfied with, go home, have dinner, watch TV and go to bed. They see a course on property investing and do it because they want to leave their job, they do not take the time to implement the strategies taught and only focus on how much money the seminar cost them. Some, acting out of desperation or ignorance, buy an overpriced property disguised as an investment from developers or marketers for developers or they buy properties at the top of the market after watching other people make money from real estate in the last 5 years. In the mean time they continue their every day routine of work, home, dinner, TV, bed.  No where in this equation do they take time to improve their knowledge and skills nor to set realistic and attainable goals.

Amateur investors have a “tell me where to invest” attitude. They are always asking about the “best” suburb as if there was some fool proof suburb where they should be running to. They are always interested in strategies everyone else is using as if there was only one sure way to make money in real estate. They are focused more on the latest scam and why “spruikers” can’t be trusted than on ways to implement good ideas. They want quick solutions because they do not have the mindset or motivation to put in the required effort and most importantly they are quick to blame others for their lack of success instead of taking FULL RESPONSIBILITY.

Being a successful investor, one who has used real estate to replace their income is like being a world class athlete and just like being a successful athlete takes more effort than merely joining a gym, being a successful property investor takes more effort than attending a seminar or course and expecting to know everything. The truth is no one can tell you where and how to invest it is all up to you. Attending seminars and workshops as well as reading books certainly does help but what other people can offer you is just words. These words are only effective if they stimulate thoughts leading to ideas which in turn lead to specific action towards attaining goals. This process can only happen in the mind of a successful person. Having a success oriented mindset is the number one key to being a great property investor and we all know that successful investors can buy a lemon and turn it into lemonade.

Xenia Ioannou – is a Director of AdProp Pty Ltd – Advanced Property Management, a committee member on the Real Estate Institute Property Management board and a strong advocate of wealth creation through property investment. She runs the Real Estate Investor Network Group in Adelaide – a meeting place for investors packed with networking opportunities, guest speakers and information and is the publisher of AdPropaganda e-magazine – Subscribe to our e-magazine and join the Real Estate Investor Network Group for free at http://www.adprop.com.au.