6. Re-define your circle of friends and influence
People have different attitudes towards the same situation; this will become more obvious during recession.
We all have friends and family who are not doing what we are doing, that is perfectly fine in my view; people are entitled to their preference and opinion, and we are not here to change them without invitation. I would just be more careful at whom I am listening to and whom I am getting advice from when it comes to property investing.
Henry Ford once said: “Whether you believe you can do a thing or not, you are right”. So
• If you believe you can make more money from properties during recession, you are right;
• If you believe you cannot make more money from properties during recession, you are right too.
It is also very easy to hear the not-so-good news and why you can’t make money from properties, they are plenty of them around during recession. It will take some effort to find those who believe the opposite, but it will be worth your effort.
This article was written by Bill Zheng, founder of Investors Direct (investorsdirect.com.au), an award winning Mortgage Company specialized in strategies and finance for residential property investors since 2001. Investors Direct was a finalists in the 2008 Australian Mortgage Award for Brokerage of the Year (Over 12 Staff Category) & Best Customer Service from an Individual Office.