COVID-19 UpdateContinuing to bring you results during COVID-19. There are significant opportunities with off-the-market properties now.

Five-year Plans Work Best

daydreaming“Best dreams are those which remain unrealised”….I don’t remember who said it and why it is still lying with me. It oozes with escapist connotations, go-getters may even find it trashy and it looks good only to comfort forlorn lovers. Hey! I am getting carried away….why did I even begin this topic this way?

Dreams associated with properties

All I wanted to share was a way which could help us bag our dreams. Whatever those dreams are! I am a buyer’s agent so let me concentrate more on those property dreams which we all see and try to substantiate over the journey of life.

What timeframe do you look at?

So do you make haste in grabbing your dream plot or delay it beyond all confines of time? What is the ideal way to go about it? In my opinion, five-year plans work best. This timeframe is neither too long nor too short. It sets tone for consolidated efforts and a whole lot of it and does not really force us to hurry along the way.

Till the time we keep working industriously, not delaying the idea for an eternity, we will reach there just right; of course, unless the dreams change to a more ambitious project by the final furlong.

Vision boards to keep you engaged

Traditional vision boards (though I am quite smitten by Pinterest, too) will help you realise just how fast you are moving or just how close to your dream you are. Let us say you are retiring in 5 years’ time and you want to have a weekly cash flow of $1,000 once you are retired. For the purpose, you are quite willing to put in a 5-year effort……

…..I am sure all you need to do is to buy 5-6 meagre investment properties in ‘acceptable’ areas. 5 years down the line, just sell 2 of them and square off your mortgage commitments. The rental yield of your property location will ensure that you earn nearly $1,000 from your remaining properties once you are retired.

My idea is that if people closing in on retirement age can do it so can you. To reiterate, do not run towards desire fulfilment at a frantic rate and do not leave it for eternity either. Five-year plans, say industry experts, is just about the right timeframe.

What timeframes do you allot for your ‘property’ dreams?