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Happy New Year
A few questions for you to kick-off the New Year:
Did you achieve your financial goals in 2006? If you did, then please skip the next few lines. If you didn’t:
• What stopped you?
• What single factor could you change now in order to make a financial success of 2007?
• Are you fully committed and motivated to increase your wealth this year?
• Do you associate and socialise with successful people?
• Do you believe that life is a rehearsal or this is it?
• Do you want to own your time?
So,
What is your property investment strategy for 2007?
How do you turn that strategy into a reality?
I make no apologies for posing questions which I hope will make you sit up and think. Now is the ideal time to draw a line under 2006 and attack with a vengeance the opportunities available in 2007.
Whether you are interested in UK or overseas investments now is the time to get on with it. If you had a successful 2006, congratulations! – you know what you are doing and will undoubtedly continue to build on your success.
But whatever your experience in property investing or financial success to date, I would recommend all readers to conduct a thorough wealth check this week, which will provide you with the sound basis on which to build your plan for this year.
I did one 2 days ago and it showed me very clearly that my gearing or leverage is far too low. As property prices rise, gearing falls until you take action to increase it again, which I will do in the next few months. As property prices are generally rising around the world, checking your gearing is something you need to do at least once a year across your portfolio.
The wealth check, which we look at on the new updated “Fundamentals of Property Investment” course, is a key component of your investment plan.
Goal Setting
To illustrate goal setting, I will highlight a few of mine in outline for 2007:
Goals:
1. Launch new developments of 180 units worth £21m on the land we bought in 2006.
2. Secure prime land opportunities in order to grow our development company.
3. Expand and develop Jet-to-Let Magazine to establish the publication as the leading UK source for overseas property investment information.
4. Develop Jet-to-Let Investments to be the leading overseas property investment company in its specialist markets.
5. Release equity from our personal portfolio in order to increase gearing for further investment in new opportunities worldwide.
6. Reduce the frequency of Bewarethesharks.com property investment courses in order to free up time for other activities.
7. ……….
8. ……….
I think I have made the point.
We all need to spend time reflecting on the past, living in the present but planning for the future. Monday 8th January 2007 is a good time to make that plan. |