Wealth creation does not start with having money. It starts with being educated on what you can do when you don’t have any money.
I first heard Tony from Prosperity Property Advisors speak at a networking event. He had 10 minutes to educate us about wealth creation.
Tony’s presentation was NOT about stressing the importance of why you should save. Nor was it about what to do with the money you have already saved. Tony’s ten minutes was about how to really look at your financial situation, how to look forward to what you want it to be and then very importantly what are the tiny steps needed on a consistent basis needed to get there. This was definitely NOT someone saying – JUST STOP SPENDING!!!
Can you believe, that I was so excited about the possibilities of actually finding out how to get my finances under control that I took another 6 months before I found the courage to sit down with Tony for an hour to find out what I needed to do.
6 months!!! Looking back it makes no sense to be frightened of a little bit of education. No wonder we are sent to school when we are children. Children never make statements of being too scared to learn.
What I discovered for us, was that while my husband and I were barely breaking even with our pay, mortgage, childcare and general day to day living, we did have enough collateral in our house to cover the deposit for a second property and therefore allow us to borrow again from the bank for an investment property.
Because Prosperity networks with a vast amount of services including lawyers, mortgage brokers and real estate, I was able to find out many things before making a final decision. This included rental income, how to set up different bank accounts for cash flow, and the whole cost of the property including solicitors fees before I even got started.
As a result of being educated I discovered that I could continue on, barely making ends meet and:
- Retire broke, or
- Use my education to buy an investment property and retire with money available in the bank.
In two months, our first investment property will be complete and rented. And because of my investment education, I will then be finding out what I can do to leverage off this new property to get the next one.
Thank you Tony and Prosperity for the educational service you provide,