Influencing a Opportunity or a Risk

opputunity risk 2


The recent bout of hot weather has certainly brought out the best and the worst of people. Twice this week I saw irate motorists shouting and threatening about the most trivial of things. I saw two motorcyclists racing where one went on the pavement to overtake the other. And I saw one teenager riding his pushbike down a seventy mile an hour dual carriageway, without his hands on the handle bars as he was texting as he rode. Now some of these things may just seem like boyish bravado but the same questions we ask ourselves over the things we do on a daily basis are typically as choice between opportunity and risk. The same is true when we are looking at bmv property deals, do we see the project as an opportunity to make capital, income or do we see it as a risk to our present often fragile financial situation?

Procrastination is the number one influencing factor in failure. It’s your life; it can be whatever you want it to be. Love what you do and you’ll never have to work another day.There are really only three steps to success. Opportunity, knowledge and action. See an opportunity, get the knowledge to achieve it and take the action to make it work. Few people realise that the simplicity of a deal can make it work all the better. All the complicated thinking, descriptions and terminology usually hinder progress not help it. We often say don’t worry what something is called; it’s the wording of the contract that’s important.

opputunity riskOne great thing these days is we have the technology to help our research. Most of what we had to do in person years ago, can now be done from the comfort of our armchair, so there really is no excuse fornot doing the opposite to the majority and finding the deals that make the money. There are perhaps some secrets that need to be told before you can see the opportunities without worrying about the risk to give you what you want.

Setting yourself goals is one of the first steps to climb as without them you won’t know where you’re going. Continue to learn and grow in every way to give you the ability to achieve your goals. Destroy all negative belief to stop yourself from hearing, seeing or imagining the risks. Prioritise your time so you are getting the best use of the hours in your day. Ignore or avoid those people who always see doom and gloom as they will drag you down. Have your exit strategy planned for either income or capital according to your own master plan. Have that plan written down with dates, amounts and intricate details.

With property you make your money when you buy even though you may not get it till you sell. Always work out the numbers correctly and double check everything. Make sure you look at the comparable properties and property deals, we don’t want to speculate, we want to seize opportunities not take risks.Always make sure you understand what you want to do and plan your business to pay the least tax. Be willing to pay for good advice as it’ll save far more in the long run. The property investors biggest area of ignorance is usually the tax and business set up. Get it right from the start and change your mind set over the way you pay yourself, your expenses and your bills. To reduce risk and grab those opportunities, you want to become your own financial adviser with sufficient knowledge to make decisions quickly before someone else gets your deal and you just have regrets.

No one will ever look after your money like you will, but never be forced to work for money rather than spend time with the people you love. When the deal is right the money will flow, if you know what’s coming you can start to plan. Make your money work for you and become financially literate. The situation in the general financial market won’t get better in a hurry as the debt figures are quite staggering. Don’t become a statistic when you can buck the trend and become financially free.

Property isn’t without risk, nothing is. However, property has many benefits not least of which is that when you know certain things you don’t need a massive budget to get started. It’s a different matter if you’re heading down the auction route where the risks get greater but even there if you get your money organized first the opportunities abound. We are each responsible for our financial future and personal destiny. Never blame others for your own misgivings.
Always be responsible for yourself not paralysed by the fear of risk.

Written by:
Lionel Palatine – He is a regular networker and a speaker at events as well as being a property author and adviser. He joint ventures deals and shows people how to buy property for low cost which are inclusive of all fees and deposits.

You can find him on regular social media Twitter |  Facebook  |    |  Youtube

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