Lunch Money Property Investing - Step 1 - Vision

Lunch Money Property Investing - Step 1: The first step to successful investing is Vision. Beginning with the end in mind and knowing where you want to be at some point in the future. I'm going to give you some advice I wish someone had given me 20 years ago when I was starting out as an investor.


Hi, I'm Phil Anderson from LifeCorp, the home of street smart property investors. Each and every week, I get approached by dozens of novice property investors, many of which ask me the same question: “How do we get started? Where do we start?” You know what? I'm gonna give you the advice today that's the advice I wish someone had been able to give me 20+ years ago, when I first started really developing my game plan as a property investor. It's gonna be some great advice that I hope you're gonna treat very, very seriously.

Although the question is where do we get started, I'm gonna encourage you to really understand, where do you wanna be? As a result of being a property investor, where do you want to be at some time in the future? Beginning with the end in mind- now, you may be here today, at some stage in your career, maybe 40, 45, 50 years of age. Looking down the path of retirement and thinking, “You know what? That's a particular milestone I need to prepare myself for.” After retirement, there'll be a certain amount of years that you need to be able to fund. And to have the lifestyle that you truly think you deserve- certain things that you wish you could do, the travel you'd like to experience, all of those things that you've been planning and visualizing are gonna be yours in retirement, we need to be able to fund ourselves for.

Now, through those years, whatever we may have as far as an amount of years go, most Australians are very similar. I test hundreds and hundreds of people, we see hundreds and hundreds of these examples every year, where a lot of people have come through their working lives, building up their super funds, which is the common way that people hope they'll be able to fund their retirement, only to find that when we see these people go through this process understand what it's gonna cost them in retirement, what it's gonna cost to fund their retirement lifestyles, most Australians are very surprised to learn that they'll exhaust their super fund in six or seven years. Between five and seven years is the most common amount that I see Australians that follow my model. I see hundreds of them each year test this out for themselves only to end up with their jaws on the ground, realizing they're very quickly gonna be back to pension levels if they're not careful.

Of course, what that does is it triggers another thing I'm seeing in Australia, a phenomenon that I'm witnessing now in Australia. The only other asset that most Australians have, they follow the great Australian game plan, buy a family home, pay it out by the time you retire, only to find when they hit retirement, and realize this is gonna be their scenario, the family home often has to be sold. We're seeing tens of thousands of these examples in particularly Sydney, but also Melbourne at the moment, we're seeing a gray tsunami of people selling their family homes and having to relocate to more affordable areas, and put half of that family home value back into funding their retirement years, trying to stretch this out into the years.

I think there's a much better way to approach this, and I would encourage you to consider this yourself. I think that most Australian families, if they just knew how to build up a small investment portfolio potentially, it might only be two properties, or thereabouts, that will help them push out their funding into retirement much further. The residual income that's coming in from the asset base that they've built up, leaving them where they can still have their family home, and have it protected. Not needing to sell their family home unless they choose to. Not that they're forced to, but it's an asset that's there as another level of safety and security for them. But it's this. It's building up your portfolio here. And even considering the new laws that are out there, allowing you to build up a property portfolio inside of your super fund- but the reality is, it's buying properties here, and beginning with the end in mind as to what asset base you will need to have to fund the retirement that you truly do deserve.

The two things I'll encourage you to do- this is is the first step in a process- the first thing I would encourage you to do within this step is understand how much per year. How much per year do you need to have the retirement lifestyle that you truly do deserve? What will it cost you per year to do that? To have the travel that you would like to have, to have the lifestyle that you truly do deserve? So, how much per year is definitely one of the factors that you need to consider. Number two is how long. How long do we have to build up an asset base, to be able to push out that income and generate this income for you each and every year? Two very important questions, and this is a very important step in the process.

This is step one in a seven-step process that I'm really, really seeing incredible results from. We've got hundreds of people following my seven-step system. But step number one is all about focus and vision. It's about creating a vision as to what you want to be able to get as a property investor. Very great place to start, a really powerful place to start, understanding how long have we got to build up that asset base, and how much per year do you need it to be able to produce to protect your family home and give you the lifestyle you would like to have in retirement.

Like I said, this is one step in a seven-step process. I've actually attached below for you, free of charge, an info-graphic, a great visual representation of all of those seven steps. I'd love to give it to you free of charge. So please, click on that link below and grab that info-graphic. I think you'll find it incredibly useful. But guys, remember, at the end of the day, any investment properties need to be really well thought-out. There are plenty of other things we need to consider. This is just step one in a process, but for every property that you buy, one of the key fundamentals that I keep telling people- if you can't buy a property with your lunch money, don't buy it.

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