Do you know what gets a bee in my bonnet?
When I hear property investors or commentators in our industry trying to convince us that there is one best property investment strategy.
Here’s the truth. There is no ‘one’ strategy for everyone.
But, there is a ‘right’ strategy for everyone.
And that strategy is going be based on:
a) the needs of the individual investor
b) what the investor wants to get from property investment
c) what the investor is willing to contribute to their portfolio in terms of time and money
I recently spoke on this exact topic at APIA’s recent Take-off event, trying to answer the question: “how do I figure out what the right strategy
is for me?”
In this article, you’ll be introduced to a model that can help guide you to determine what your needs, wants, and ability to contribute is. Once you’ve
done this, you can create your own ‘right’ property investment strategy for yourself.
Introducing the Property Investor Needs-Triangle Model
Because your right strategy is based on three things: needs, wants and ability to contribute, this Property Investor Needs-Triangle also has three parts
–
- Aspirational needs – the goal you are trying to achieve. Pick one from this category
- Financial needs – this incorporates your appetite for risk and what you can afford to contribute financially to your portfolio. Pick
2 from this category - Functional needs – how much time, effort and knowledge you can put into your strategy. Pick three from this category (one from each
column)
This is what it looks like:
Before we walk through how to use this model to create a strategy, there are two...
