Property Investing: People Have 2 Reasons For Not Doing It...

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Property Investing: People Have 2 Reasons For Not Doing

It...



- by Peter Stanley



(c) Property Made Simple. All Rights Reserved.

http://www.bookshaker.com







Most people have 2 reasons for doing things, the one they'll

tell you and the real one.



I was talking with a group of people this week about

investing in property and they all said that the reason they

don't invest in property is because they don't have the

money.



When I probed a bit, I found out that there were other

reasons.



When I was a teenager, I loved to window shop, looking at

all the things that I would buy if I had the money. Even

when I got older, I've been known to test drive cars I

couldn't afford, just to see if they're really worth the

money. It takes some confidence, but is a good way to spend

an afternoon.



So whilst I didn't have the money, I knew just how short I

was, the various options and the best place to buy what I

wanted. It didn't bring it any closer, but at least I knew

how big the gap was and made spending my Christmas money

much easier in the January sales.



Talking with these people, I realised that even if they had

the money, they wouldn't rush out and buy a house. One of

the questions they asked me was how I found the deposit for

my first property, which isn't the right question, as my

financial situation is likely to be totally different to the

questioner.



Don't get me wrong, there's nothing wrong with being wary,

all I'm saying is that you should know what the real reason

is.



I often play a game with some of my friends at answering the

exact question they ask, rather than what they mean to ask.

For example, I may have a car wheel in my hall and they ask

what it is. Now it's fairly obvious what it is, but what

they mean to ask is what have you got that for.



It may sound like mumbo jumbo, but if these people had said

that they wanted to get into property, but didn't have the

money yet, they'd have been a whole lot further along their

journey to becoming a person of property.



Sometimes people expect me to convince them of the reasons

for investing in property, and whilst I used to do this,

I've given up. I'm more than happy to help anyone who wants

to get into property, especially if they're buying lunch,

but to be able to help someone they need to want to be

helped.



If they'd asked how much they needed, what knowledge they

needed and the pitfalls, then we'd be cooking on gas.



It's really hard to get answers to the real questions, if

you don't know what they are.



I know, it took me 5 years to realise that I was scared of

the risk and that knowing all the pitfalls would help me

avoid them, but only when I took the jump would I know for

real. Sometimes in life, we can run through numerous "what

if" scenarios, but only by taking action will we know how it

turns out.



I'm not saying that you should all invest right now, just

asking you to think about the real reasons.



Talking of getting the knowledge, I know a 17 year old, who

spent 2 weeks on work experience with a property developer,

attends property investment workshops and is so keen to

understand how to invest in property that she emails me

weekly to ask what I'm up to.



I offered to take her to an auction in London next week and

she's said that she wants to be there at the start, even

though the property I'm interested in won't come up until

2PM. Her reasoning is that she wants to learn as much as

possible.



But this concept applies to many situations. Have you ever

been in a negotiation and got the feeling that the point

you're negotiating isn't the real issue ?



Only when you find out the real reason can you start to

reach an agreement.



Sometimes people don't know the real reason themselves, so

it can take some time, but the technique of saying, OK,

let's imagine that you came into some money, what would you

buy ? This gets them past the mental stumbling block and

allows you to probe for the real reason that they don't want

to take action.





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