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Ben Kingsley Blog post by Ben Kingsley

Why do you need a Property Wealth Plan?

So you’re thinking about investing in property.

Well, let me share with you the importance of planning and getting it right in the first time. I’m going to use this example. Take a look at this beautiful home, lovely floor plan as well isn’t it? Well, the reality is, that house couldn’t have been achieve and that outcome couldn’t have been achieve without this. And what are they? They are detailed plans. They are working drawings, they cover off on the engineering, they cover off on the footprint, they cover off on all the specs and the fixtures and fittings, the permits that you need to actually make that happen.

Well, property investing is exactly the same thing or it should be.

I see so many people who just go ad hoc and just take a step in the dark in terms of trying to invest in property and make bad decisions. Great decisions start with smart planning. And in Empower Wealth, that is exactly what we do. We do the planning for you. We build property wealth plans that are detailed and cover off on all the important materials that you need to know. In that case, things like what are your overall goals? What cash flows do you need to make this happen? What is the best investment value that you can go and in other words, what price will you buy at? And if you want to learn more about that, check out my How to session on How do you make a $200,000 property mistake. It’s a great message for why we do the planning work. And this plan should be something of a journey. Ultimately, when you build a house with this plan, you get that result. With this, it should be the same thing. It should become a part of a working document, your blueprint in terms of how you get to the wealth outcome that you are trying to get to. And let’s face it. We all know that potentially, we could have build that house and we could have tried to do it ourselves and if we did, how many mistakes we’d have make? How much rework and how much cost blow out we would have done because we didn’t stick to a plan. Well, the same principles apply.

The smartest investment is investing in you or the knowledge of what people have, in terms of qualified property investment advisors to get that information to you so you don’t make those silly mistakes and you make every post a winner. Now the ones who plan to become what they plan to become is exactly that point. And there is an old saying as well, if you fail to plan, you plan to fail. That is exactly why it is important to get a plan first before you execute on property investment.

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