Day 21

Risk mitigation is understanding the risk, planning for points of failure, and proceeding with caution when required. This is akin to wearing a seatbelt, not driving unless conditions are safe, and staying alert to the dangers as you travel. Property investing is safe when you are investing based on knowledge, not speculation.

You cannot expect to stay home and do nothing your whole life. Your money needs to be managed in a way that it grows to help you and your family in the future. If you don’t have expensive tastes or desires – then grow your money pile and give it to the community, church, charity, organisations in need. Many people sleep better at night knowing their Will leaves money to charities.

Proceed with caution.
Everyone’s an expert – friends, family, neighbours, colleagues, the taxi driver, the entitled journalist – but do they own tonnes of property and have they studied 1000s of case studies? Probably not. You have to make decisions based on your own knowledge base and it pays to enlist the help of those already helping others achieve what you want to achieve.

If you have not already, watch JP talk about his property investing where he recently banked almost $100k profit in 3 weeks. One of the best ways to avoid risk (or at least reduce your exposure) is buying undervalue.

Working with the right accountant, lawyer, adviser and agents, will pave the way for successful investing.

Lawyers and accountants easily cover their own costs through saved time and headaches, and most of the time agents and advisers work at no cost to you. To gain the attention of the best professionals you need to be willing to be a good client that is educated, prepared and presents them with good viable projects.
Check out the PFW course if you think you’re ready to become a more educated property investor and looking to take the next bigger steps to financial freedom.

The masterclasses and then the Property Formula Workshop are all designed to continue replacing doubt with action-orientated knowledge.

All of the masterclasses and the property formula workshop equip you with knowledge and also tools like spreadsheets to ensure you can apply everything to your life.