By guest contributor Gerald Tay
Yes! I just purchased the best property investment deal from a property seminar. I don’t have to do anything. All I have to do is sit on my couch and the cheques will be deposited into my bank account. They promise a 20% guaranteed return during the first year with a contract. Should I want to sell it anytime, they will either find buyers for me or simply buy it back from me. And the best part? I only have to fork out a tiny sum for the property down-payment. Where’s the exact location of the property? Well, it’s somewhere there on the map. I’ve seen it on presentation and it just fine. No risk, requires little money to start and comes with great returns!
They also offered me a property investment “mentor” who will help me to become rich in a 12 month package for $3,995. The “mentor” is the same fellow who sold me the property. He must be always right because he’s a property “guru”. I’ll just follow those shrink wrapped books, study that file which is thicker than my son’s history book, follow the guru’s recommendation, and start boasting to my friends how you don’t have to do anything to become rich. I am on my way to untold fortunes. Look out world. Here I come!
Sounds foolish doesn’t it? But people are always looking for that Magic Pill, the one thing that will help them leave their job, become rich, buy that house and car and live a better life. I call it the “Magic Pill Syndrome” – people jump from investment to investment, program to program looking for the easy road to wealth. Unfortunately, the only place the magic pill will work is in the movies or Peter Pan’s land.
The Armchair Investing “Pill”
Most people do not want to work or are simply looking for the laziest and quickest way they can find to wealth and riches. They throng property seminars, exhibitions and new launches, hoping to find that one great deal to be laid out to them on a silver platter. They rather let others find the deal for them than to go do it themselves. In other words, they hope the sky will rain money down on them.
They like to believe they can find good property deals with no sweat, no trouble, and no need to get “dirty”. They want everything from the legal stuff to renting out done for them, so that all they have to do is to sign on the dotted line.
Many overseas properties being marketed in property seminars or exhibitions can be more than meets the eye. Their so-called projected high returns can be distorted to look good to potential buyers. These marketers have clever up-the-sleeves marketing tricks to package these properties nicely, making Enron and Bernie Madoff look like amateurs. The only reason such properties are being sold in seminars or exhibitions is because they can make money for the sellers, and certainly not for you, the buyer. If the property is as good as they claim, why the need for it to be marketed thousands of miles away when there is already a ready pool of wealthy savvy investors with ready money to buy from the country of origin?
Great and good property deals are NEVER marketed or promoted widely in public (this includes new property launches). They are meant to be found through hard-work and sweat.
The Only Magic Pill that works
The only magic involved for investment success is hard work, action and commitment. It is hard work to first get educated and learn the ropes before any action is taken. Action is the fuel. Commitment is the vehicle that will drive you to the finish line. Hard work, action and commitment are needed to help you realise your investment goals. There’s no other way around it.
All too often I hear people say, “I don’t want to learn. I have no time.” This is just foolishness. Don’t be seduced by the opportunities that promise you instant riches.
Donald Trump and the Trenches
To be a rich successful investor, one has to first learn to be in the trenches, observing the enemy from the frontlines, fighting and dodging bullets, sweating in mud under the hot sun and pushing your limits to survive no matter how tired you may be. Certainly, you don’t expect to win a war from the comforts of your sofa at home.
Donald Trump, the famous property developer, started his real estate investment career as a small-time investor in the dark pits of New York City. I certainly don’t think he became this successful simply by being an armchair investor and neither should you. But I’m not asking you to be the next Donald Trump either. You just need to be a smart property investor!
With the right systems and training put together with your hard work, action and commitment, you can find an investment that will work for you. A mentor or coach can help with the learning curve and help you increase your success faster.
By guest contributor Gerald Tay, CEO and Chief Trainer at CREi Academy Group.