Greed is good

Posted by Andrew Nicol on 12/06/17

A surprising thing that I have learned throughout years of working with potential property investors, is that not everyone wants to be wealthy. This is a foreign concept to me, as I unashamedly do want to be wealthy, and on a daily basis I make sacrifices to get there. I’m not doing this so that I can swan around on a super yacht surrounded by bronzed beauties- mostly because I get sea sick. I make sacrifices now so I can have freedom later in life. Freedom to choose when I work. Freedom to visit the places in the world I want to visit. Freedom to live life on my terms.

Society often puts the idea in our head that in building your own wealth you are taking from someone else, and that feels wrong. The newspapers will have you believe that it is us investors who are pushing first home buyers out of the market. I believe it is the first home buyers who are pricing themselves out of the market, but that’s a conversation for another day. If life feels like an unfair system, that’s probably because it is. Welcome to the real world.

So, I am here to tell you not to be afraid of being greedy. Nobody should be ashamed of wanting to take control of their financial future to live life on their terms. Nobody should be ashamed of wanting to provide for his or her family now and for generations to come. In fact, it’s the right thing to do.

I’m not saying that you should do this at the expense of others by ratcheting up rents to squeeze every last dollar out of your tenant – that’s not the way to get ahead. But don’t be afraid to leverage off others, for example the bank and the IRD, to push ahead financially. Use the systems that we have in New Zealand to give you the advantage.

Have a clear vision and an end goal. When do you want to be able to stop working? How much money will you need, and for how long? What is your plan to get there? Once you have outlined this, go and be greedy. Do everything you can to get you there because nobody else is going to support you. Never be afraid to take what you deserve. With investing, enemy number one is fear. Number two is procrastination.

If you want to know more, book in a one-on-one session with myself or one of the team.

Take control and get greedy.