The Benefit Of Surrounding Yourself With Successful Investors
According to entrepreneur and motivational speaker Jim Rohn, “You are the average of the five people you spend the most time with.’” If you want to become a successful property investor - it makes sense that surrounding yourself with other experienced investors and professionals can greatly help you on your investment journey.
API sat down with Ripehouse founder, Jacob Field to find out his thoughts on the benefits of building a strong, positive network of investors if you are looking to make that first property purchase or grow your current portfolio. Below are his top 5:
1. Learn from others who have gone before
It’s an obvious no-brainer that a great way to learn how to do something new or something better is to follow others who have already achieved what you are aiming to achieve. By reaching out to fellow investors who have already walked the walk, you can greatly shorten your learning curve. Speaking with other investors can also help you determine whether a specific strategy or goal is suited to your current circumstances and if it really is your best path forward.
2. Overcoming challenges
Investing in property can be really challenging at times. Gaining finance, understanding the legal side of things, managing tenants and maintenance, even selecting a great property in the first place, can all present obstacles on your journey towards investment success. By comparing notes with fellow investors you can access the cheat sheet, finding out the answers to these common investor problems without learning the hard way - through trial and error.
3. Access opportunities
One of the best things about connecting with other successful investors is that you can hear about opportunities that you otherwise wouldn’t. You can see what is working for others and potentially follow in their footsteps. Successful investors will also likely have a network of experienced investors and property professionals at their fingertips, who may also be able to provide you with further opportunities to collaborate, learn from and work with, in the future.
4. Be inspired to achieve more
A successful inner circle can really inspire you to achieve more than you ever thought possible By surrounding yourself with people who have similar dreams and goals, it can really help fuel your passion to succeed. Depending on your goals, watching others enjoy the fruits of their hard work can help you dig deep when it comes to your own effort, sacrifice and dedication to stay the course. Whether your aim is to leave full-time work early to pursue a passion, lead a more fulfilling lifestyle, retire early altogether or create intergenerational wealth for your family, watching others ‘live the dream’ can be a great source of inspiration.
5. Reach your goals faster
There is no greater way to find success than surrounding yourself with other successful people. If you are able to tap into the four benefits mentioned above, you can certainly reach your goals faster than if you were to go it alone. A strong network of successful investors will help you maintain momentum and allow you to reach your endgame ahead of schedule.
Your environment shapes who you will become and by building a network of successful investors you can certainly improve your own investment outcomes. It is for this reason that we have just launched a brand new Ripehouse.com.au Investor Community Private Facebook Group. The group is a space where investors can help, guide and inspire each other, and receive investment support from the Ripehouse team of professionals. Access to the Ripehouse.com.au Investor Community Private Facebook page is granted when you sign up for a 7 day free, no-obligation Ripehouse trial here.