So you see that’s the one end of a good approach of real estate investment, right? The other end is,the wait and see approach, the other end is when you say, I’m going to nice to see you number, I am going to get into this real estate investment and I am going to then wait and see, so I’m going to buy my land. I’m going to stand, I’m going to buy, applaud, whatever you call it in whichever country. And then I’m going to wait and see if this laundry accruing value. I’m going to wait and see if maybe something comes up around buy property that’s going to make it more, you know, but easier to actually like get something out of. But either way, both of these are a wait and see approach and not helping you guys. They’re not helping you because number one, you just let a perfectly good investment pass you by it.
Or number two, you’ve got into an investment and it’s eating up your money and not giving you back anything in return. So why? Why would he ever do that? Do you buy a car and then go and pack it in your ground and say, this is cool. I got that comment, I got it, you know, and then you’re like sitting there and you’re enjoying the you during you enjoying having the car. This is the same with our real estate investments. We don’t just violent and then we’re waiting. We’re waiting to see. We, we move into monetizing them and this one we have found the people that are getting the best results. You guys, they are adopting a pro-active approach. Okay. They are moving forward and saying, you know what, I see this investment, I’m going to get into it. I’m going to take it all the way till it starts bringing me back money.
And the way it brings you back money will depend. It’s like, is it going to bring you back money through rental income isn’t going to bring you back money through agricultural income, you know like you know, using greenhouses and the like, is it going to bring you money through leasing it to people who want to use it for various purposes? Whichever way it is we often see is pretty much it was the person that you could ever use. Okay. So that’s the number one approach that I’m thinking is it’s really literally one of the West that you could ever employ. And don’t do it. Just don’t do it, don’t do it. What’s a better approach? And we’re going to talk about it. We’re going to talk about it in a second because I know and, and let me know, give me some hearts if this, if this really resonates with you that, you’re right.
I’ve fallen into this trap. We do it so often. It’s so natural because we don’t want to move, we don’t want to take action. We want to kind of sit and wait for things to come to us. And that approach just doesn’t work. I’m going to go into the next mistake that people make when it comes to the real estate investment and I’m just going to call this one, you know, playing it by ear or guesswork, so to speak, going, gotten, playing it by ear is more of you’re getting into something, but you have no idea if this will actually give you returns because you’ve not run the numbers because you’ve not analyzed it because you, you, you actually haven’t sought to find out. Okay? So if I put this amount of money into my investment, I will get back this amount.
So I’m going to get back this amount. So you’re not, you’ve not run the numbers, you’re not how I try to figure out. So yes, I’m putting this in and then when I do this kind of work, this is what I’m going to get out. But you’re just kind of approaching like using like a kind of a play by ear approach or you’re, you’re kind of, you know, relying on guesswork. This is this, this is not what the top real estate investors do. Ask just, I’m just gonna you know, laid out for you guys, but this is not what the top real estate investors do. Because guess what will never get you into. I mean, do you start a business without a business plan? Even if you don’t have a business plan, don’t you stop the business kind of with an idea of what it is you want to get out of that business.
Don’t you have an idea of this is the product I’m going to sell. This is where, who I’m going to sell it to. In fact, this is who leads that product. You know, this is exactly what it is, Because I’m like, I hope that the, the audience coming through is fine. If not, just do let me know. So, so you’re not. You don’t start a business without having all these little, all these tenants in place. Do you? So why do the same for real estate? Well, I get in when you have no idea how you’re gonna monetize it when you have no idea if it’s even going to bring your returns. You know what I mean? One thing I have found is before you get into, into a real estate investment, it’s very, it’s very important that you, you actually figure out who you need to know, what is that investment going to give you back?
What is, what is going to give you in return. Like it’s basically doing analysis. Okay. Is doing analysis to know what is the market rate, what are you going to buy it for, what kinds of you they’re going to get, what kind of, what can you expect for your, for your daily rental rate? How, how, how, how, what’s the occupancy that you can expect? Awesome. Thanks so much. So what can you expect with regards to, you know, how often it will be rented out, therefore, you know, how often you, what, what can you, what can you put as an average expense? No, no, not an average income per month. And therefore, of course, you know conversely, what is, what will be your average expense per month? You know what, what our ministries are you going to provide? You know what if it’s. If you’re getting into the short, short term rental market and this is a, you know that this is how we do our own high yield real estate investment.
What are the different things that you’re going to offer so you can just jump right into this without analyzing it simply because it’s it. It’s not a wise move. It’s not always low. Sure, sure you can. You can play by ear, but you’re simply just not going to get the best results. You know why? Because the time that you make your real estate returns, the time that you actually determine whether you’re going to be making real estate returns is before you invest in the property, not after. Do you know if before you invest in it and you run the numbers and they’re not making sense, that’s the time you actually will know this will give me a return or not, and you then choose to proceed or not. And if you choose to proceed, you did it knowing that, okay, I’m not really going for it.
I’m going for the feeling of owning this house. I’m going for the fact that this is finally my dream property. Never mind if it’s not giving me back the return that I really designed for it to give me. Okay? So you must run your numbers. You must know what return will I get on my investment. People get into investments all the time and you might know the, the, the term rental yield. I find this is a very useful way to kind of compare the kind of return on investment on a property rental unit is basically the annual income you can expect to get from a property divided by the value of the property. So it basically tells you in a nutshell how many years will you take to really pay off this property? So if you’re going either rental yield is maybe 30 percent, which means every year you’re making back 80 percent of the property value.
It’ll take you three years, slightly more than three years, slightly over three years, less than three years. And a half to make back the full value of your property, have factors held constant, you know, we’re not counting the cost of financing or accounting, all other costs associated with just looking at what is really your return on investment for this particular property. That’s just an example of some of the numbers you want to run. And obviously you want to look around at the market. You want to look around at what it is that you can find through the market. Well for some reason, I just got an area, but that’s fine. You want to find what kind of return on investment you can get through the local market. And you know, by doing that research, you know, and maybe you don’t know how to do it well nevermind.
We’re going to talk about it in a second and I’m going to tell you exactly how you can do that kind of research so that you can be able to really get yourself the best possible a property. Because let me tell you why this is important. I mean, a lot of people want ask. It’s a number, it’s a number two question. I would say that a lot of people ask us is, how can I know that the property I’m investing in is the best one? How can I know that this property that I’m investing in is the one that will give me the best returns? How can I know? You know? And if a question that a lot of people ask and so that’s why I’m like, why would you can go ahead and do this by guesswork? You guys? I’m like, I don’t, I don’t understand it.
I’m here today. I’m here to talk in love. By the way, I’m putting it up because I’m like, why would we do it is because I’ve seen too many people doing it then really shouldn’t be. So I don’t want you to fall in that same trap. That’s why I’m talking to you like I’m talking to you like a big sister. Okay. We’re keeping it real. I’m, I’m telling you like it is. Okay guys, so super, super good to hear. And what do you think about this thing so far? Does this resonate with you? Have you kind of taken that approach, maybe taking a wait and see approach in your property investments maybe, you’ve either been wait and see on the outside of the investment or on the inside of investment. And how’s that working for you so far? How’s that working for you? Tell me the comments.
Today I am going talk to you about the biggest mistakes that we see people making with their real estate investments. Okay, and this is from over 200 calls we have had with diaspora in the past three, four months. It really is straight from the horse’s mouth! You guys, when it comes to real estate, we are doing so many things wrong. We also then wonder why aren’t we getting results? We wonder why aren’t we making the progress that we thought we should be making by now? So the reason we discovered is that, look, there are a couple of things. Well, a couple more than a couple of things we’re doing wrong – you were doing wrong when it comes to your real estate investment. And I’m here to talk about them today because you know what I’m all about keeping it real. I’m all about telling you guys like it is from the experience we’ve had with our own investments and with those of the people that we’re working with every single day. These are the things that we’re discovering and I’m going to be talking about the top three mistakes that we actually have discovered over the past three, four months as I mentioned above, the idea is that I want you to use these to help kind of evaluate where you, yourself are with regards to your real estate investments. Are you actually on track? Are you using the right bank or are you still kind of wandering about. Hey, you never know, you actually might be doing the completely wrong thing and have no idea because I always wonder why is it that when we get started with our real estate investments, we’ve got to just jump right in. Like, is there really anything? Anything else that we really just jump right in? I mean think about it for your career. You spend ages preparing for it. You’re basically preparing for your career with anything that you do or did in post high school, isn’t it? Basically, you know, you’re doing your diploma or your graduate degree or postgraduate degree in preparation for your career. So we literally spent almost four to six years just preparing for the career that we set out to engage in. But when it comes to real estate, we’re not spending as much time or effort in it. You know, you’re not investing your time, investing your money. I mean, I’m just going to ask you right now, think about how much you actually have spent in your education. Think about it right now. How much have you spent in your education, preparing you for your career? I would hazard a guess that it is nothing less than at least $100,000. Dollars. Well, it might be that also, you know, you probably be joined in a public school, maybe you didn’t have so much school fees to pay. So maybe in some countries it might be that it’s closer to probably like $10,000 just over the time that you were staying. Then count your lodging county of food and board, county or you know, school fees that you paid in there, you spent a lot of time and you know what, most people are going to have a lot more from their real estate investments and they will ever earn from Beccaria is guys. This is just the truth of the matter. We will earn much more from our real estate investments than we ever will earn from our career, it is just the nature of real estate investment. So why aren’t we spending enough time in it? Right? So I’m kind of touching on one of the things that we actually normally encounter. I might maybe get into a few low cost investments, you know, and then I’m just going to wait and see, you know, so either you waiting and seeing when you’re inside the investment or you’re waiting and seeing when you’re outside of the investment. Both of these are just not the way to do it. I mean, given the people who see something useful, see a particular, the people who see, hold on. So adopting the wait and see approach is what we’re saying right, you can do this in one of two ways. You’re going to, you’re finding, you’re looking around looking at real estate, potential, real estate investments and then you’re like, okay, this seems a little bit out of reach for me right now. I’m going to wait and see. Or maybe you say that one seems a little bit to, you know, insert whatever adjective you want to use. I’m going to wait and see. So you to just sit aside and you kind of wait and see, you know, wait and see approach. It’s not gonna help you one little bit because guess what’s going to happen with real estate, it will always accrue in value. If you want to get into it, you need to get into it now.
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OPT 1: 3 THINGS I DID RIGHT AS AN EXPAT
One of the things I enjoy about being an expat is that I have learned to travel light.
Give me 30 minutes to pack my bag for a week vacation and I will do it with precision, perfection, and efficiency.
But sometimes I revert to my old “I-must-carry-everything-I-own ways”. You know the ones, when you have packed two full suitcases for your beachside vacation and end up never even opening one of the suitcases. Or you have carried everything and the kitchen sink in your airplane carry-on then can’t get it to fit in those little overhead luggage compartment, to your chagrin and that of everyone trying to get past you as they board. 😳😳
One recent relapse of mine comes to mind. For my birthday, my husband treated me to a surprise day at the Skin spa for a full body treatments and a number of beauty treatments. That was simply divine. (Hint to husbands: Anything that can get your wife some along pampering time, DO IT).
He told me to carry 5 items.
I ended packing 10. At which point he reminded me about the list he had sent me. So I reduced what I had packed and ended up forgetting one of them.
In my mind I was imagining he was whisking me to an overnight solo getaway retreat. He is my biggest advocate and is ALWAYS telling me to plan one for some “me-time” to just get away from it all and just relax, plan, dream and refresh. So I thought he had decided to take matters into his own hands and drop me off at an unnamed location for a compulsory retreat.
The Spa day was much MORE fun! Sigh.
But back to my packing story. Here I was packing a full bag, and he was just smiling secretly to himself at how overboard I had gone.
So he had to intervene. And that got me thinking.
Are we simply just carrying too much baggage with us in life? Are there truly really only a few things we need?
A GREAT attitude and mindset. An OPEN mind. A CARING soul. A good WORK ethic. A SUPPORTIVE community.
We travel with too much, don’t know when to let go of things and then we end of letting go of too much.
Need to get back on track with your real estate investments? Carrying too much baggage and feeling like it’s bogging you down? There’s only a very FEW things you really need to get success and we know WHAT they are and HOW you can get them.
I’ll admit, I’ve outgrown a lot of my friends (and if you are reading this, no it’s not you. Or maybe it is).
I listened to a video the other day that talked about when you are hanging out with a group of 5 millionaires, you will be the 6th.
And I want to hang out with a group of millionaires because I have every intention of being one. You know, it’s one of those New Year’s resolutions I made right up next to “Rule the world”. So I am doing everything that I can to get those people into my circles, or get myself into their circles.
And I am willing to make the investment. I may not have shared this before but I have my eye on a mastermind called the Millionaire Alliance that is run by Russ Ruffino’s Clients on Demand that get its members up to 1 million dollars in annual revenue. Mark my words I will be there for their next mastermind retreat in August 2018.
And it’s not cheap. It will cost me multiple five figures, in dollars. And that’s the price I am willing to pay. It was actually my birthday wish this year and my wonderful husband is 100% behind me for it.
And it got me to thinking. I have done a lot of courses these past 2 years since I started my online entrepreneurship journey.
Some of them were free, some of them were paid. A lot of them took time and effort. Very few of them actually got me results. And to be honest, it was not entirely the programs faults’. Sure, they were using outdated strategies that don’t really scale and that I couldn’t really use as a complete nobody coming onto the scene. But the other reason I failed miserably at most of them was, I put in the work pretty half-heartedly.
But the programs that REALLY redeemed themselves had one common denominator, accountability! And that made the difference between whether I put in the work, or just did it “meh”.
And when I found one that ACTUALLY got people results, provided accountability and gave a nobody like me a stepping stone to the big leagues, I was like, where do I sign up!
But it has meant letting go of the things, the activities, the people that are not helping me or getting me closer to my goal.
For the first time in AGES, I am finally exercising consistently, working on purpose, avoiding distractions, (I am writing thing during a 45-minutes uninterrupted DEEP WORK session, did I even know what that meant this time last year?). I am building a team I LOVE, that inspires me every day. I am motivating people around me and knowing that it’s because of ME, and not bashfully redirecting the attention. You need to understand my back story as one where I’ve never felt like I really DESERVE the limelight. And now I am at a place where it doesn’t matter anymore whether I feel like I deserve it or not. And now I do feel it, because I finally GET that it’s not about me. It’s ALL about the ones that I am here on earth to serve and to inspire.
It’s because of the work that I have put into myself that I am finally able and willing to accept that, yes, I CAN, I DO and I WILL motivate those who are seeking them same goal in their lives.
But that has not come cheap. And I am guarding it fearlessly.
The other day I told my husband, ‘I think I may not have been invited to a birthday party by some unnamed friend’. Because everyone I knew seemed to be going to this “thing” that they wouldn’t say was by who.
And before, that would have broken my heart, put me in a slump for days (okay maybe hours, tops, I’m not that touchy feely) and really had me going around like “Woe is me”.
And then, in the moment that I said it, I realised, ‘Hold up. WHY am I unhappy about this?” Because this “friend” may just have done me a favour by being one less person that I needed to drop off on the way to my dreams.
I’m done needing everyone to like me. I’m done needing everyone to approve of what I do. I’m done needing to be the most popular gal in school (coz you know if you weren’t you always fantasized about being that person, be honest).
I’m instead aiming for the feeling of “sweet, delicious, wild” success that is coming my way. And when it hits, that’s when I will know the TRUE friends.
I hope that will inspire you to stop making excuses for your success, your drive, your grit, your determination.
“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, Who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you. We are all meant to shine, as children do. We were born to make manifest the glory of God that is within us. It’s not just in some of us; it’s in everyone. And as we let our own light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.” – Marianne Williamson
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That’s a question I’ve been asking myself a lot this past week.
2 things happened that triggered this: I learnt of the passing of an acquaintance. And a dear friend hit rock bottom.
One is pretty final as far as rock bottom goes. There’s no returning from the great beyond. The other is not.
What I wondered, could either have been prevented? I kept asking myself one question. If this time last year someone had told the person that had passed that in 1 year’s time they would have a stroke and die, would they have lived differently?
Would they have enjoyed life more, yet reined in the elements of that enjoyment that shortened their life?
Would they have jumped out of bed at 6 in the morning to go for that run knowing each mile ran would extend their life by an extra day?
Would they have put down that doughnut because, will, life.
Would they have gone for more check-ups and listened to their doctor more? Would they have lived with the intention to grow old and be able to kiss the cheeks of their grandkids on this earth?
I’d like to think so. Because it sure motivated me to jump out of bed at 6 am this morning to exercise. AND to daydream of kissing my grandkids on their cheeks. And to enjoy life and time with my family more.
We are all on a clock, but we have the grace to be alive RIGHT NOW. And right now is what we need to make the most of.
Because, if we don’t, we either hit a rock bottom with finality, or we hit an interim one, that may feel just like death in it’s bite.
I’m talking about the rock bottom where you lose your will to do it anymore. Where everything you’ve ever worked for comes crumbling down, and you are left with the ashes of your life surrounding you. Left wondering how it came to this, wondering where you went wrong.
The truth is, you can probably pin-point EXACTLY where it went wrong. That time when you chose to turn over on your bed, rather than get up and go hustle.
Or that time when you had a deadline, and you decided to ignore it, because you were at a party last night. (Or because what you were working on was not as perfect as you needed it to be). And so you got passed up for that job, that promotion, or that opportunity.
Or that time when you ignored the most important thing, and focused on the mundane, because it was easy, it was mindless, it was fun for a fleeting moment.
And now, you are reaping what you have sown. It’s time to account for your sins of omission or of commission. With time as your jury and your actions as your judge.
And try as you might, you can’t pass the buck on this one. You KNOW that this didn’t sneak up on you. This was years in the making. Like that time I got a second class honours lower division in my university degree, when I really should have got a first class honours. I knew I had sold myself out, I had fallen short of my capability. I knew that if I had worked harder, I would have waltzed into Yale, or Harvard for my post grad, with a fully paid up scholarship. I knew that I had no one to blame but myself.
Thankfully, it was not rock bottom, and I rebounded from it easy enough. I just broke my back for the next 10+ years to prove that I was worth my mettle, to me as much as to everyone else around me.
See the power of rock-bottom is that once you hit it, there is nowhere else to go but up. That is if you hit the one of the non-permanent variety, also know as six-feet-under.
Since you are reading this, you still have time. Time to prepare yourself to NOT hit rock bottom. Time to work till you drop, to move ahead so fast you leave others around you out of breath.
Time to fill your mind with only thoughts of the hope of where you are going, while being grateful for where you are. And leaving behind the regret of where you could have been.
So what WILL be your rock bottom? What will be your final straw?
As for me, right now, I’m thanking God for life every morning, and praying for peace every night, doing life hard so that I will be spent when my days are done. And before then, making sure the world knows that I am on this earth!
And if you are yearning to never have to hit rock bottom, or you did and you want a way out in regards to your investments.
If you finally want to change the way you have always reacted to the way things have always been done, if you want to do things differently, if this resonates with you in your real estate journey then you owe it yourself to reach out to us and get access to tried and true strategies, expert help and trusted networks at long last. More on how to do that below.
I work with African professionals in the Diaspora to help them maximize their real estate investments, by providing the best strategies for getting financing, managing and monetizing their properties back home. My team and I do this by providing them access trusted networks of the right people and the right strategies so they can finally get moving on owning their first, second or third home or be on their way to getting 6-figure returns from the home they already own. Watch our free masterclass to learn the the 5 Steps Our Clients Use to Earn Six-Figure Rents From Their Homes in Africa (while living abroad and doing it 100% virtually.)
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