About Long Term Investing
It was fabulous to read in the Courier Mail last Saturday in the Real Estate section a fantastic article about building wealth and that property was the key driver for this to happen.
“Long term investing in property wins out” Courier Mail Saturday October 11, 2014.
“The only way to build genuine wealth is by compounding and leveraging assets” as stated in the Courier Mail. So the compounding is reducing your debt by debt reduction strategies and/or growth and then leveraging against the property ie using the equity to purchase more investment properties to create wealth.
The article goes on to discuss about understanding the holding costs and making sure you understand this process. For me it was very exciting reading as I must say I think it’s the first time I have ever read one of these articles and I could actually tick all the boxes.
- I have multiple investment properties.
- I manage the holding costs by having a pot and separating my personal finances from my investment finances.
- My property portfolio is a long-term proposition to allow for equity growth and for rents to go up to grow my income.
- I have complete focus on the goal to grow my property portfolio whilst also having fun and enjoying life.
It was also extremely reassuring to me to have been taught all of this by Chris and Jack Childs. Chris who has taught me to understand cash flow and keeping my finances separate and in columns, and Jack for always telling me to stay focused, and pointing me in the right direction for my property selection.
It’s this winning combination of experience and knowledge that is constantly re-enforced mostly by following the principals Think Money teaches and then having it backed up with reality.
It’s true what Chris says, “It’s not always easy but it’s most certainly worth it”.
Very exciting times ahead in the next 12 months I’d say!
Lynn Levitt - Think Money Wealth Coach and Goal Mapping Expert.