Are you lucky enough to be in the position to be able to consider investing and making the most of the opportunities in the current market?
If you are, how are you going to make your decision?
A word of WARNING – now is not the time to go off a gut instinct or feeling.
It can be an incredibly stressful and therefor an emotional time to be making decisions that will affect you or your family over the longer term.
So, my advice is to beware the latest headline and only make decisions based on facts, data and research.
Leave the emotion and the best intentions of others at the door.
Here are my thoughts;
If you were looking to start a new business today, you would likely hire a mentor or business coach and have them put a business plan together with you.
Well, why should it be any different to property?
Now, more than ever is the time to do both of those things for your Property Business, starting with finding a Coach or Mentor.
But where would you start and who should you look for?
Choosing a Mentor
If I was starting a business in a specific field that I had limited knowledge about, I would want to hire the best of the best!
I would choose;
- A specialist not a generalist
- Someone with decades of experience – not years
- Walks the talk and literally practices what they preach
A great example is our team at Metropole, led by founder Michael Yardney, who has over 40 years of property investment experience.
He is not a theorist, but rather one of Australia’s leading property investors.
But it doesn’t stop there.
Many of our Directors and Property Strategists, myself included have more than two decades experience in the investment space and have been helping our clients for over a decade.
You just can’t beat that level of experience.
Our clients are often impressed that they are not palmed off to junior team members to make important decisions but have direct access to the best minds in the nation.
The Business Plan
Now you have your Mentor, it is time to put the Business Plan together.
This is how our team does this for our clients, with our Strategic Property Plan;
1. Strategy Development Meeting
After completing a detailed fact find questionnaire we’ll have another meeting to dig deeper into your current circumstances, your income, your expenditures, how much you want your “property business” to give you in the future, your time frame and your risk profile.
At this meeting we’ll also talk about the performance of your existing assets, your potential and the opportunities ahead.
You will also be referred to one of our finance strategists who will develop a finance strategy for you.
2. Building your Strategy
We will then work on your plan, consult with our research department and design a fully customized plan for your short & long-term goals after doing the appropriate research on your current situation and property portfolio.
This will be a realistic plan geared toward your priorities, your most important goals and help you weigh the decisions along the way that can strengthen your plan and address the potential risks
We may also suggest you see other professionals such as a wealth advisor regarding ownership structures and estate planning or an insurance expert.
3. Implementation Session
At this follow up meeting we will answer any questions you may have, fine tune anything that needs tweaking and give you a step by step guide for the next stage.
We will then refer you to any professional colleagues required to help manage the next steps.
4. Annual Portfolio Review
As a client of Metropole, we are keen to meet you at least once a year, get an update on your situation and make new recommendations if necessary.
Now is the time to take action and set yourself for the opportunities that will present themselves as the market moves on
If you’re wondering what will happen to property in 2020–2021 you are not alone.
You can trust the team at Metropole to provide you with direction, guidance and results.
In challenging times like we are currently experiencing you need an advisor who takes a holistic approach to your wealth creation and that’s what you exactly what you get from the multi award winning team at Metropole.
If you’re looking at buying your next home or investment property here’s 4 ways we can help you:
- Strategic property advice. – Allow us to build a Strategic Property Plan for you and your family. Planning is bringing the future into the present so you can do something about it now! This will give you direction, results and more certainty. Click here to learn more
- Buyer’s agency – As Australia’s most trusted buyers’ agents we’ve been involved in over $3Billion worth of transactions creating wealth for our clients and we can do the same for you. Our on the ground teams in Melbourne, Sydney and Brisbane bring you years of experience and perspective – that’s something money just can’t buy. We’ll help you find your next home or an investment grade property. Click here to learn how we can help you.
- Wealth Advisory – We can provide you with strategic tailored financial planning and wealth advice. Click here to learn more about we can help you.
- Property Management – Our stress free property management services help you maximise your property returns. Click here to find out why our clients enjoy a vacancy rate considerably below the market average, our tenants stay an average of 3 years and our properties lease 10 days faster than the market average.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.