Psychological is as Important as Capital in Property Investment

A lot of people give many reasons why they have not buy a house. For those who already have one, they are also pesimis when asking why not investing on a new house or commercial property. Including my good friends, their main reason is always affordability. Little did they know that a lot of people can buy a house, and many people can make property investment if they have the right mind set.

A lot of us were involved in sports when we were in school. Some of us managed to become the champion in our respective fields while a lot of us fail to achieve much even though we have put a lot of effort. For a high level sport, we can always see the difference between the champion and the secondary achievers are always their psychology endurance.

However, in property investment it is difficult to become a loser if you have properly done your homework. A detail study of the property development plan, stage of development, target market etc. are some of the essential information must be studied. But, some people who have the opportunity for the correct information still have not make the investment due to poor psychology assessment.

Below are some of the psychological stress to be prepared:
- your quality time is spent at home
- look for cheaper or free entertainment
- your relatives thought you are rich and can buy whatever you want; so stay low profile in any expenditure
- advertisement is an art
- be prepared to resist to turn to the dark side: too friendly or entertaining ridiculous demand from potential tenant can be stressful. Learn to be diplomatic to refuse.

Below looks like financial stress, but there are psychological impact which you must also be prepared and get harder as your family grow older.
- restrict your expenditure (very difficult to discipline)
- less eating out when there is no tenant (very difficult to discipline)
- less travel holiday
- capital needed for maintenance, cleaning and refurbish

- use old car or whatever you already have

You can add the both list above. Due to age factor, the earlier you start a property investment, a better prepared you are for any future property investment.

First is a must

Second is the hardest

Third is difficult

Fourth is possible

Fifth is graduation

Sixth and above are your freedom.