Let me tell you about two different people with two totally different mindsets. One is Rob Moore (who is a property millionaire) and the other is Peter Duffy (me, who is definitely not a property millionaire).
We both started investing in property around the same time. In saying that, I might have even started a few years earlier than Rob. That is where the similarities end unfortunately for me.
Rob is one of the UK’s top non-fiction authors – 8 books published.
Rob became a millionaire at 30 having been an artist £50k in debt 5 years before
Rob built the UK’s largest training property company Progressive Property that won business of the year in 2016.
Rob broke 3 public speaking world records (an international key note speaker).
Rob co-owns or manages 850 tenants in his property portfolio and Progressive Lets Agency.
The list goes on. Let’s just say that for the last 15 years (approximate) Rob has been doing REALLY well!
Pete has done none of the above. In fact, just a few years ago I had 3 rentals and was about £50,000 in negative equity.
In 2008/2009 when the financial crisis came along, I used this as an excuse and became really negative about property. This started 10 years of me being a dark cloud about money and negative towards the property market – especially my 3 rentals.
Rob on the other hand, used it as an opportunity to push on and become a property millionaire. He made a few mistakes but the point is that he stuck with it and pushed through his early failures and became very successful.
You might think I’m bitter by mentioning Rob’s success but this couldn’t be further from the truth. I love a success story and I look up to Rob and his story shows an aspiring property investor like me that anything is possible.
About 2 years ago I had finally got to a point where I was no longer willing to be a dark cloud over my work and money situation. If I continued down the path I was on I knew I was heading for more uncertainty and anxiety around my money situation and I didn’t want my negative emotions affecting my family.
It is fair to say, I forced myself to be happy. And I can honestly say that since immersing myself into self-development, I am happy with the now and am very excited for the future.
I have got a better relationship with money. I can’t quite put into words how this has happened I just know I have. Slowly but surely the self development material is rubbing off on me.
I know money doesn’t guarantee happiness. We have all heard of celebrities who seemingly have it all and still can’t find happiness. But what I can say with certainty is it will help me do the things I love and a by-product of this is that it will make me happier.
In almost 2 years of self-development I haven’t really achieved that much to be honest. I have bought x1 more rental property and have had my Life strategy 80 20 (Stocks and Shares Investment that tracks the markets) fund for a little over 12 months.
This isn’t something I am dwelling on because I know that I am pushing hard to make investing my full time job. Even with setbacks, I have managed to stay positive. I know that all my efforts will be worth it as I learn and continue to progress towards my FI.
Since purchasing rental number 4, 18 months ago, I have been to over 100 viewings in my local area. I have made bids on over 30 properties. One or two have been accepted but have fell through for one reason or another.
This is all part of the game. The books that I have been reading have definitely helped my mindset. What I have been told and what I am starting to realize is that whatever it is you are trying to achieve, someone somewhere has already done it.
I am not the only one who has been slow at getting their next property. After reading over 75 books in 18 months, I feel like I am on the right path. With a little momentum I will start getting a few breaks and my current number of 4 rentals in 18 years will massively improve.
You see if I go back to my old negative habits, I will end up in another 10 years being 47 with 4 rentals in 28 years. I will have spent far too much time working away from home and I will know exactly what to expect of the remaining years of my working life.
But I refuse to be pulled in to my old negative habits, I will stay positive and who knows I might just end up like Rob Moore.
What I can tell you, is that I now believe anything is possible with a positive mindset. You can either come out of COVID-19 like Peter Duffy came out of the financial crisis of 2008/2009. I was negative about work, property and money in general. Or you can come out of it like Rob Moore who came out of that crisis a property millionaire.