Lacing on your running shoes and pounding the pavement is a common way of keeping fit.<\/p>\n
But what about the people who go the extra mile?<\/p>\n
You know the ones \u2013 they’re the social runners who start out running five kilometres and then keep upping their distance goals.<\/p>\n
![\"Action](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2018\/05\/action-1837158_1920-800x450.jpg\")
<\/p>\n
The next year they might train to complete 10 kilometres and the year after that it’s a half marathon.<\/p>\n
Then their focus shifts to the ultimate goal \u2013 a marathon \u2013 and they spend countless hours training.<\/p>\n
I’m sure we all know people like this in our social circles, but what does running have to do with real estate investing?<\/p>\n
What can\u00a0property investors learn from marathon runners?<\/p>\n
More than you might think as it turns out.<\/p>\n
1. Big goals<\/span><\/h2>\nMarathon runners share the same mindset as successful property investors because they think big. <\/p>\n
They set big, sometimes lofty, goals and then go about achieving them \u2013 literally step by step.<\/p>\n
You know what I’m talking about \u2013 runners understand that it will take time to be fit enough to complete a marathon.<\/p>\n
They don’t bite off more than they can chew within six months of completing their first fun run.<\/p>\n
Instead, they put in the many training hours required to achieve their goal.<\/p>\n
Ditto with successful property investors who set audacious goals, knowing that it will take a long time to reach them.<\/p>\n
And that’s because they…<\/p>\n
2. Look to the future<\/span><\/h2>\nPotential marathon runners don’t believe in instant success.<\/p>\n
They know they will need to train many times a week, every week of the year, for potentially a number of years before they’re ready to attempt running 42 kilometres.<\/p>\n
![\"runner\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/11\/runner-888016_1280-800x450.jpg\")
<\/p>\n
The thing is they share that “long-game thinking” with property investors.<\/p>\n
Smart investors know that wealth creation takes time, which means they steer clear of spruikers promising “get rich quick schemes”.<\/p>\n
Because they’re prepared to…<\/p>\n
3. Pace themselves<\/span><\/h2>\nJust like completing a marathon, property investors know that success involves a huge number of steps.<\/p>\n
Let me explain: instead of giving up on the first hurdle, investors and runners pace themselves and never lose sight of the finish line.<\/p>\n
That’s because they know that slow and steady often wins the race.<\/strong><\/p>\nInstead of trying to outrun the pack at the start \u2013 or blindly buying a property in the midst of a boom fuelled byFOMO \u2013\u00a0 investors and marathoners adopt a slower, more measured, rhythm.<\/p>\n\n
That way, while others fall by the wayside, they can keep up the pace, and keep buying investment-grade properties<\/a>, to achieve their goals.<\/p>\nAnd they do it in…<\/p>\n
4. Rain or shine<\/span><\/h2>\nThe reality is that to run a marathon you need to train all of the time \u2013 in rain, hail, or shine.<\/p>\n
That’s why you’ll see serious runners clocking up the miles in all types of weather.<\/p>\n
It’s no coincidence that successful property investors do the same thing.<\/p>\n
![\"31217695_l\"](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2016\/08\/31217695_l-800x740.jpg\")
<\/p>\n
What I mean by that is they move forward with their wealth creation goals<\/strong> regardless of what the market or the economy is doing at the time.<\/p>\nEven in times of restrictive lending, savvy investors will continue to add to their portfolios.<\/p>\n
And they’ll do so when the market is soft, too, because they understand that it’s a wise strategy to buy when other, less educated, investors are fearful.<\/p>\n
Often they do this by having a…<\/p>\n
5. Helping hand<\/span><\/h2>\nAnother similarity between marathon runners and property investors is that they seek out coaches who have achieved the same goal that they have set themselves.<\/p>\n
Perhaps they join a serious running group whose members have a number of marathons under their belts.<\/p>\n
Likewise, educated property investors understand the value of working with professionals who can help them reach their wealth creation goals.<\/p>\n
The key is they only seek out mentors<\/a> who have mastered what they want to achieve.<\/p>\nThey know that looking for guidance from someone who got lucky solely from a single property market upswing makes little financial sense.<\/p>\n
Instead, they look for mentors who succeeded over multiple market cycles.<\/p>\n
I know what you’re probably thinking…<\/span><\/h2>\nDoes this mean I have to start training for a marathon?<\/p>\n
No, of course not. I haven’t run a literal marathon for, well, all of my life.<\/p>\n
What I have done, however, is put in the time, effort, dedication, and self-education over many years to achieve financial freedom.<\/p>\n
![\"Road](\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2018\/05\/road-908176_1920-800x450.jpg\")
<\/p>\n
And I’ve used property investment as the vehicle to achieve that goal.<\/p>\n
At the end of the day, wealth creation happens slowly \u2013 just like training for a marathon.<\/p>\n
The key is to never give up and to keep your eyes on the finish line.<\/p>\n
ALSO READ: <\/strong><\/span>5 rules Monopoly can teach us to win as a Property Investor<\/a><\/p>\n
Potential marathon runners don’t believe in instant success.<\/p>\n
They know they will need to train many times a week, every week of the year, for potentially a number of years before they’re ready to attempt running 42 kilometres.<\/p>\n
<\/p>\n
The thing is they share that “long-game thinking” with property investors.<\/p>\n
Smart investors know that wealth creation takes time, which means they steer clear of spruikers promising “get rich quick schemes”.<\/p>\n
Because they’re prepared to…<\/p>\n
3. Pace themselves<\/span><\/h2>\nJust like completing a marathon, property investors know that success involves a huge number of steps.<\/p>\n
Let me explain: instead of giving up on the first hurdle, investors and runners pace themselves and never lose sight of the finish line.<\/p>\n
That’s because they know that slow and steady often wins the race.<\/strong><\/p>\nInstead of trying to outrun the pack at the start \u2013 or blindly buying a property in the midst of a boom fuelled byFOMO \u2013\u00a0 investors and marathoners adopt a slower, more measured, rhythm.<\/p>\n\n
That way, while others fall by the wayside, they can keep up the pace, and keep buying investment-grade properties<\/a>, to achieve their goals.<\/p>\nAnd they do it in…<\/p>\n
4. Rain or shine<\/span><\/h2>\nThe reality is that to run a marathon you need to train all of the time \u2013 in rain, hail, or shine.<\/p>\n
That’s why you’ll see serious runners clocking up the miles in all types of weather.<\/p>\n
It’s no coincidence that successful property investors do the same thing.<\/p>\n
<\/p>\n
What I mean by that is they move forward with their wealth creation goals<\/strong> regardless of what the market or the economy is doing at the time.<\/p>\nEven in times of restrictive lending, savvy investors will continue to add to their portfolios.<\/p>\n
And they’ll do so when the market is soft, too, because they understand that it’s a wise strategy to buy when other, less educated, investors are fearful.<\/p>\n
Often they do this by having a…<\/p>\n
5. Helping hand<\/span><\/h2>\nAnother similarity between marathon runners and property investors is that they seek out coaches who have achieved the same goal that they have set themselves.<\/p>\n
Perhaps they join a serious running group whose members have a number of marathons under their belts.<\/p>\n
Likewise, educated property investors understand the value of working with professionals who can help them reach their wealth creation goals.<\/p>\n
The key is they only seek out mentors<\/a> who have mastered what they want to achieve.<\/p>\nThey know that looking for guidance from someone who got lucky solely from a single property market upswing makes little financial sense.<\/p>\n
Instead, they look for mentors who succeeded over multiple market cycles.<\/p>\n
I know what you’re probably thinking…<\/span><\/h2>\nDoes this mean I have to start training for a marathon?<\/p>\n
No, of course not. I haven’t run a literal marathon for, well, all of my life.<\/p>\n
What I have done, however, is put in the time, effort, dedication, and self-education over many years to achieve financial freedom.<\/p>\n
<\/p>\n
And I’ve used property investment as the vehicle to achieve that goal.<\/p>\n
At the end of the day, wealth creation happens slowly \u2013 just like training for a marathon.<\/p>\n
The key is to never give up and to keep your eyes on the finish line.<\/p>\n
ALSO READ: <\/strong><\/span>5 rules Monopoly can teach us to win as a Property Investor<\/a><\/p>\n
Instead of trying to outrun the pack at the start \u2013 or blindly buying a property in the midst of a boom fuelled byFOMO \u2013\u00a0 investors and marathoners adopt a slower, more measured, rhythm.<\/p>\n\n
That way, while others fall by the wayside, they can keep up the pace, and keep buying investment-grade properties<\/a>, to achieve their goals.<\/p>\n And they do it in…<\/p>\n The reality is that to run a marathon you need to train all of the time \u2013 in rain, hail, or shine.<\/p>\n That’s why you’ll see serious runners clocking up the miles in all types of weather.<\/p>\n It’s no coincidence that successful property investors do the same thing.<\/p>\n What I mean by that is they move forward with their wealth creation goals<\/strong> regardless of what the market or the economy is doing at the time.<\/p>\n Even in times of restrictive lending, savvy investors will continue to add to their portfolios.<\/p>\n And they’ll do so when the market is soft, too, because they understand that it’s a wise strategy to buy when other, less educated, investors are fearful.<\/p>\n Often they do this by having a…<\/p>\n Another similarity between marathon runners and property investors is that they seek out coaches who have achieved the same goal that they have set themselves.<\/p>\n Perhaps they join a serious running group whose members have a number of marathons under their belts.<\/p>\n Likewise, educated property investors understand the value of working with professionals who can help them reach their wealth creation goals.<\/p>\n The key is they only seek out mentors<\/a> who have mastered what they want to achieve.<\/p>\n They know that looking for guidance from someone who got lucky solely from a single property market upswing makes little financial sense.<\/p>\n Instead, they look for mentors who succeeded over multiple market cycles.<\/p>\n Does this mean I have to start training for a marathon?<\/p>\n No, of course not. I haven’t run a literal marathon for, well, all of my life.<\/p>\n What I have done, however, is put in the time, effort, dedication, and self-education over many years to achieve financial freedom.<\/p>\n And I’ve used property investment as the vehicle to achieve that goal.<\/p>\n At the end of the day, wealth creation happens slowly \u2013 just like training for a marathon.<\/p>\n The key is to never give up and to keep your eyes on the finish line.<\/p>\n ALSO READ: <\/strong><\/span>5 rules Monopoly can teach us to win as a Property Investor<\/a><\/p>\n 4. Rain or shine<\/span><\/h2>\n
<\/p>\n5. Helping hand<\/span><\/h2>\n
I know what you’re probably thinking…<\/span><\/h2>\n
<\/p>\n