When starting out, people often choose a specific strategy that works for them and the market. What I like most about HMO is that it not only helps scale down to single unit projects but also scale up to larger developments that can lead to building hotels, resorts, or whatever you desire.
Now, when you ask most people what their reason for entering property investing was, a lot of the time, you’d hear them say something along the lines of “I want a secure source of money” or “I want more time to myself.”
That’s because for the majority of people, living an “average” life, which usually means working an eight-hour shift five days a week, is too stressful. And so, they choose to go for a life with less commitments.
However, despite making the shift successfully and finally obtaining that highly sought after freedom, it is not uncommon for people to use their newfound time in growing their business.
That’s natural, of course, as it is an important part of growing one’s wealth, but as a result, you return to that old routine of working long hours for a paycheck, and having little time for yourself to actually recuperate, and even less time to spend with the people that you love.
That “gotta work” mentality once again keeps you from the leisure that you worked so hard for.
Now, don’t get me wrong. I love being a beast in my daily goals. But, I always make sure I have my outcomes, targets and schedules so I know what, how and when to prioritise them and produce growing results.
It is not a stretch to say that a fulfilling life involves working on the things you actually love doing, while also having enough in your day for your family, and maybe even some time for a hobby that you might have.
This fulfilment gives us a purpose, and for our purpose, we are driven to keep going and to work harder. But a little too much hard work can end up working against you.
If you start eating up too much of your time working, then it creates an imbalance in your life where you end up spending around 90% of your time working to make your life better, and only 10% of your time actually enjoying it.
You default to that “worker” lifestyle where you spend too much time trying to get rich, leaving yourself with no time to actually make use of your riches.
One of the reasons why I started to grow my portfolio using HMO’s is because of the freedom I was able to attain through it. It kickstarted a life where I can freely go on vacations with my loved ones knowing my businesses will still be running whether I’m at the site or not. What is important here is to find what you are good at and love doing with in your business and build the team and find partners that like doing the things that you do not. This way when you are working it does not seem like work and that is where the magic happens. I have witnessed many who start in property and after a while will be feeling tired, stressed and even burned out. This is because they lost sight of the purpose of doing it. And I am not just talking about that “WHY.” I am talking about the real sense of fulfilment in what you are doing everyday.
A dangerous mentality.
Yes, time is precious, and it would be in our best interest to use our time wisely. Those are very good words to live by. But those are also very dangerous words to heed.
Taking these words to heart may end up in us spending every waking second trying to do something “productive”, and when we can’t do so, we end up feeling bad for having “wasted time”.
To start trying to get fulfilment, begin with investing in yourself. Instead of forcing yourself to do something productive in your downtime, take that time doing less mentally stimulating things. Take a deep breath and relax for a moment. Maybe even listen to some music while you take a couple hours to rest. This is where my best ideas come from. How to solve problems, come up with next move, negotiate that next deal
Time spent resting is time well-spent, not time wasted. Never feel bad for having to take care of yourself.
The better condition you are in, the more productive you’ll be later.
By forcing yourself to work even in your break hours, all you’ll be doing is physically and mentally exhausting yourself.
When we “invest” in something, we usually give a lot of time, money, and effort into it, in the hopes that it’ll grow and rise in value in the future.
That applies to stocks, bonds, properties, and above all, ourselves.
True happiness isn’t found in creating a sizable portfolio and becoming a millionaire. It’s found in investing time, money, and effort into yourself.
The only thing money does is give you the freedom to be able to do that.
Go the extra mile to take more care of yourself, and you’ll find yourself happier than ever before.
So no matter what stage you’re currently at in your property journey, make sure to review what strategy(s) will give you the biggest impact for you to reach your goals.
Strategies like those are always the most fun and sustainable ones. If you do it for the sake of investing, but you’re not truly 100% invested, and will burnout, so don't be a candle find fulfilment in what you do.
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