I THINK it was management guru, Tom Peters, who came up with probably the best advice on how to overcome procrastination — stemming from the need to have everything perfect BEFORE taking action.
And even though his advice may have originated in the 1980s … it certainly still holds true today, when it comes to Commercial property investors.
Tom Peters’ simple strategy was: “Ready … Fire … Aim!”
In essence, he is telling you not to try to learn (or understand) everything there is to know about Commercial property — before making a start. You can always improve and refine things, as you go along.
Of course, you will need to have a basic understanding.
But with your first acquisition, simply engage the appropriate advisers (in the fields of property, the law, taxation, construction, etc) … to fill in the gaps, as the need arises.
And if you choose them wisely, these advisers will provide you with the best hands-on education you’ll ever get. Far better than anything you will gain from merely reading books, or attending seminars.
To help you obtain a broad understanding of Commercial property, you may care to explore some tools like …
- My Book: How Investing in Commercial Property Really Works
- Home-study Course: The 9-Step Investment Formula
- In-depth Training: Negotiating Master Class
But when it comes to actually purchasing your properties … I’m more than happy to introduce you to members of my own personal Consulting Team — all of whom I would be looking to engage, for anything I was about to purchase.
Keeping things in perspective
It is important for you to have long-term vision, when you are starting out. But pursuing a dream without taking action … is simply a waste of your time and resources.
Therefore, instead of continuing to learn more, and waiting to take the “one big step” … you are far better to begin small, and just get into the market — particularly, at this stage in the current Property Cycle.
The fact that residential auctions are now consistently showing clearance rates above 60% … provides a clear indication that home buyers believe interest rates are unlikely to fall much further.
The demand for smaller Industrial property has already grown dramatically, over the past 6 months. And Retail sales figures are expected to gain some momentum, in the run-up to Christmas.
Bottom Line: To perhaps extend what Tom Peters was trying to say: You can always change SOMETHING … but you can’t change NOTHING.
Therefore, you ought consider now as the ideal time to enter the Commercial property market — even though it may mean you take a series of small steps to begin with.