G’day all
Happy Friday! And what a great few spring days we’ve had here in Melbourne!
It’s as if Mother nature has flicked a switch and all of a sudden, days became 3-4 degrees warmer. Now, getting Her to flick the off switch on this virus, that would be appreciated…
With the warmer weather, and sun, comes hope. I spoke last week of keeping hope through tough times, and one of my property mentors wrote an article this week that was bang on the money!
Jon Giaan (owner of Knowledge Source – look him up and subscribe to his blogs, they are awesome!) was talking about the ‘Frozen Economy’.
While he was ‘tongue in cheek’ referencing Disney’s animated movie, the logic behind his words was spot on.
There are several obstacles we must conquer to keep moving forward in tough conditions…
Firstly, in situations like we have currently, uncertainty, fear, tough economic conditions, many people have become ‘FEAR FROZEN’. They stop progressing and do nothing. The ‘Netflix & chill’ or ‘hiding under the doona’ mentality. It literally will stop people in their tracks, and they freeze.
This can be a hard obstacle to overcome. It requires a mindset shift, which possibly hope, or even the improving weather can help, but moreover, a conscious decision to stop allowing ourselves to be afraid of the ‘doom & gloom’ we are fed in the media.
The second obstacle we face is being ‘CREDIT FROZEN’. We may not have access to funds like we did before, or the funds we did have, are now disappearing fast in order to keep the household alive if JobSeeker/JobKeeper is not enough and the bills pile up.
Unlike FEAR FROZEN, which requires a mindset shift, CREDIT FROZEN requires a Skillset Shift. We need to learn how to find better deals, how to access more funds, do joint ventures, get properties with no money down, etc…
Then on the other side of these two obstacles are the smart, savvy investors – changing both mindset and skillset to move forward, regardless of tough times.
It’s often during these times that the most progress can be made, as it becomes a ‘road less travelled’ with so many stuck at obstacles 1 or 2…
I have spoken in the past few weeks about the 5 Biggest Mistakes investors make when investing in the U.S. Market (if you haven’t read my blog get it here – https://www.stardynamic.com.au/2020/09/01/the-5-biggest-u-s-property-investing-mistakes-you-can-easily-avoid/ )
One of the good things about mistakes though, is that they show action. It shows that you are doing something, albeit possibly incorrectly or just a touch off course, but moving.
This can be as important as anything else…
Even from my staff, I am happy for them to make decisions, get it wrong and learn from those mistakes so they can adjust and grow.
Without making mistakes, or by being FROZEN in place, nothing can be corrected, no action is being taken, there is no way out – without a mindset or skillset change.
So, what are you waiting for… get out there and make some mistakes, learn, adjust and grow.
Or, read my blog above and miss a few of the biggies 🙂
If you want help getting started, give us a call…
MINDSET or SKILLSET – which do you need to work on to get out of the freeze and enjoy this warmer period? Let me know!
You got this!
Happy Investing all and have a great weekend!!
To learn more about making smarter decisions around your property investments, download our Seven Simple Secrets to Investing in US Real Estate ebook.
