Well, to me, it's two things. The first thing is mindset, you've got to have the right mindset.
The other thing is you've got to have a successful strategy. If you've got a successful strategy, but your attitude's bad, your mindset's not right you're still not gonna make it. And if you've got a fantastic attitude and mindset, but you've got a flawed strategy, you're not gonna make it either.
If you've got the right mindset, the right attitude and you have a successful strategy, you're going to get there. It's all about strategy because if you have the right strategy that then forces you to only pick the type of properties where the numbers work. So if you've got the right strategy, you'll end up with investing into what's called cashflow positive property and then everything else falls into place around that.
The properties themselves, they're just the work horses.
I mean, if you look at the stats again, I love stats, only 7.9% of Australians have one investment property or more, so it's only 7.9% of Aussies, and out of that 7.9%, 72% never get past one & 90% never get past 2. Only 0.6% of that 7.9% get to six properties or more.
So the vast, vast majority of investors wouldn't have a clue what they're doing. They don't know where to buy, when to buy, what to buy and when to sell.
So you've got to have the right strategy.
