Investors

Investment Property.  .  .  stirs up all kinds of scenes, doesn’t it? Financial freedoms .  .  . A certain prestige  . . .  Independence . . .  Free time . . .  Control . . .  Lack of control . . .  Uncertainty . . .  Bad decisions . . .  Crazy market changes causing disaster . . .  FEAR . . .

Every one of the above comes with the territory. Not everyone is cut out to be an investor. That’s okay. But if you feel that you would enjoy the challenges and would like to reap the potential rewards of investing, there has never been as good a time to start as today

We’re not going to try to teach you how to invest here.  Everyone needs to develop their own individual investment goals and plan and that needs to be done on a one-on-one basis. Undoubtedly, there is a lot that you will want to learn. In fact, there are thousands of books available, so many investment theories it will make your head spin, and worst of all, every relative, every neighbor and every fair weather friend who has never been able to pay their bills at the end of the month has advide for you and knows exactly what you should be doing with your hard-earned money and your investments!  Now, we’re not telling you to go into investing blindly, but we are telling you that you couldn’t learn everything there is to know if you had three lifetimes in which to research it. And if it were possible to know it all, you still wouldn’t know what was good advice and what was bad. If you wait until you feel you’re knowledgeable enough, you will never make that first purchase. Also, if you have no one’s knowledge to rely upon except your own, you don’t know if there’s still a gap in that knowledge somewhere. How do you know what you don’t know?

Our advice is to develop a Circle of Advisors. This Circle of Advisors should include, at a minimum, a Realtor, an accountant, and a financial planning attorney.  You may add many people to this Circle through the  years – contractors, architects, etc. Let them know what you want to do and then use their expertise, together with your own knowledge, understanding and yes, gut feelings, to outline your strategy, make your plan and then to start implementing it. The key is not to substitute your good common sense with someone else’s knowledge, but to enhance your own abilities with those of others in order to form a stronger, broader perspective.

Don’t be afraid to ask these prospective advisors questions.  Do they have investments of their own? Have they had experience with different types of investments? Do they tell you they don’t know when they are not sure about something? That’s a big one. It’s okay not to know something. What is not okay is for them to try to impress you with their infallible opinions and knowledge about everything when they’re really just trying to stroke their own ego. Your circumstances are unique and you are the one to make the final decisions. You want their knowledge and guidance - not their inflated self worth. They also need to be a team player. Beware of that Realtor who is trying to push you towards a particular property when the accountant is telling you that could cause you capital gains problems down the road or the attorney is cautioning you about potential zoning problems to do what you want to do in the end. The goal is not to get this property or that property; it is to fulfil the long-term plan.

Be prepared to pay your Circle of Advisors something for their work and expertise. This is a different way of doing business than ever before. You do not have these people around you to accomplish a specific act or to react to a particular problem;  you have these advisors helping you to avoid potential problems in the future and to create the scenario you want to create your future. A great deal of research can go into a particular offering only to find that it is not the right transaction for you. That is not a waste of time or money. When that happens, you know you are on the right track and have the right advisors.

For more information Contact Us.