Updated: Sep 7, 2020
If you have listened to the podcast or you follow me online, you would already know that I am obsessed with learning about how to invest in Commercial Property. The reason behind that is I'm even more obsessed with reaching financial freedom because I want to live my life on my terms and stop selling my time for money. It baffles me that more Australians are not avidly trying to do the same and when I question people about it I seem to hear the same common response.
“I Don't Have Time To Learn How To Invest”
To me, this means learning how to invest SHOULD be a huge priority of yours.
The most important thing anyone has in their life is time, you can't simply just buy more of it, no matter how rich you are, and once it's gone, you can’t get it back.
Does anyone on their deathbed ever say “I wish I had more time to spend at the office”
No, they say I wish I had more time to spend with my family.
So why spend the best years of your life working at a job that doesn’t satisfy you, or give you more free time? That's why I believe that learning how to invest in income-producing assets, is the MOST important thing anyone can do at any stage in their life, and it's never too late Mum!
The simple idea behind Investing in Commercial Property is that it pays for itself and pays YOU to own it. Therefore it has the potential to replace your income and create financial freedom for you and your family. It’s not unusual for 1 Commercial Property to produce $20,000 - $150,000 of NET Income. So you can imagine if you could purchase a couple of these assets. But if you're the average Australian who has kids and works a 38 hour week, how could you possibly find time to learn such a huge topic like How to Invest in Commercial Property?
Well here are 6 ways to create time and stop making excuses why you can't learn how to Invest in Commercial Property.
1. Stop relying on reading alone to educate yourself.
Reading is great but it is something that requires your full attention and cannot be multi-tasked. I recommend getting a subscription to Audible. This has been one of the best investments I have made in myself and I have no doubt that the $14.95 I pay each month, is going to make me millions in the future.
2. Turn every mundane task you perform into a learning opportunity.
Whether it's cooking, cleaning, shopping, exercising or even mowing the lawn.
All of these tasks can be transformed into education time. Get some cordless headphones, I recommend the Laser AO-AB200, they are only $29 from Big W and they haven’t let me down yet. Listen to a property investment course, podcast, audiobook or anything that is going to get you closer to your goal of financial freedom.
3. Stop listening to music in the car and start listening to something educational.
I love music as much as the next person but is it really serving you well on your commute to work? This was something I fazed out over time. At first, I started listening to educational content only in the morning, because my mind was clear and not full of all the junk that happened that day. On my way home I just wanted to zone out and sing along with my favourite Milky Chance album. Then, I started to really look forward to each opportunity I had to get closer to my goal and it was easy for me to switch altogether.
4. Stop reading or watching the news during your lunch break and start listening to something positive.
For one, let’s face it, the News is all negative rubbish designed to get your attention and clicks. They highlight and sensationalise all the bad things that are going on in the world because that’s what makes them the most money. Think of your mind as a vault which should be protected at all times. You don't want just any old piece of junk rattling around in there. How often do you read or watch the news and feel terrible or negative after watching it? But then, an hour later the next report comes along and we watch that one as well, just in case any new crap is being reported. Why do we do it to ourselves?
You should choose wisely what information you let into your mind because it changes your mood and outlook on life itself. That's why I gave up reading or watching the news a long time ago. If anything of any importance is happening in the world like the coronavirus, my work colleges or family will mention it to me in casual conversation but all the other mind-numbing, negative sprouting information that’s designed to glue me to the screen is filtered out, so I have more time to focus on my goal of reaching financial freedom.
5. Make it a priority
You can truly achieve anything if you make it a priority. My fiance and I wanted to own a house in Sydney before we had kids. (Looking back with the knowledge I possess today, after 3 more years of studying investing in property. That wasn’t the best choice for my financial freedom, if I had only known the benefits of Commercial Property back then, but that’s a topic for another blog.)
I'm from Generation Y, and we are notorious for complaining about home ownership being unaffordable, especially in Sydney but it was my priority to make this happen. So my fiance and I figured out a way to make this our reality and no, we couldn't buy the dream home first up, that sort of thinking is probably why my generation complains so much. If gen Y’s could only understand the concept of the property ladder and make the appropriate sacrifices, they would realise that homeownership in Sydney is an achievable goal. We are living proof, and we are just on rung 1.
6. Create a small habit each day that will pay huge returns in the future
I’m sure most people have heard of a concept called the compound effect, well if you haven't there is a great book you can listen to called “The Compound Effect” by Darren Hardy. The concept works with many things, especially habits. Basically, if you can create a small habit like listening to something educational each day for 10-15 minutes the compound effect over time could be huge.
I can only speak from my personal experience where I started the small habit of listening to a property podcasts during my 30-minute lunch break instead of reading the news. That one habit has compounded so significantly it has changed the course of my life and no doubt my financial future. It gave me the idea and confidence to start my own Subdivision Management Service and Property Development sourcing business on the side, Develop a Life. That first small habit was the catalyst for the idea to create a Podcast where I get to speak to the best professionals in the business. I then get to share and learn their knowledge with you all and now I'm writing this blog for the new website. Who knows what's next! All of this has happened because I made one small change to the information I consumed during my lunch break. The best part is, the compound effect is still working in the background for me and now has so much momentum it will never stop.
So If you truly value your time and you want more of it, stop using the excuse
“I DON'T HAVE TIME” to learn how to invest and start asking yourself
HOW CAN I MAKE TIME to learn how to invest?, just like Rich Dad (Keith Cunningham) explained to Robert Kiyosaki’s in the great book Rich Dad Poor Dad.
Managing Director - Develop a Life
Host & Creator of The Commercial Property Show Australia