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Real Estate Information |
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Property Investing - Am I Buying for Profit or Prestige?
All of us have emotional preconceptions and assumptions. They are reinforced and fine tuned by our experiences of life, be they traumatic, disciplined or consistent. Our brains are designed so that the emotional patterning centers mature while we are still in utero, whereas our rational centers begin to mature at about 4 years old and finish maturing through adolescence to early adulthood. Non- rational emotional patterning is therefore a design feature!! Most of us have some common preconceived ideas, historically these were things like the earth was flat, and we couldn't fly. Now they are more likely to be about how we structure our lives. Why do over 3 million people in Sydney need to get up and go to work at the same time, every day and cause massive traffic congestion? Why do we think this is normal? Is it normal? Does it work for us? Why do we keep doing it? As well as commonly held patterns we all have a few family specific ones and, a number of which are unique to our experiences of life. Because they are a design feature, they are supposed to be there. Most people seem to presume not and try to weed them out or ignore them and hope they will go away.However, a big property purchase looms. Our money is involved. For most people our emotional patterns will be triggered and we will react. The issue isn't that we have a reaction, the issue is the reaction becomes our focus and we try to fix our upset. In the process we forget to focus on the property transaction! Property transactions are very complex procedures with finance, legal, vendor and purchaser coordinating to a finite window. Much expertise and sensitive negotiation can be involved. There are few opportunities we participate in with a more immediate effect on our bank balance, cash flow and, for many, sense of self. This is not a good time to be distracted!! What are the sorts of things that distract us? We could look at many behaviours, however we get simpler pictures if we examine motive, sometimes conscious, sometimes hidden a little deeper. A client might be worried about how they are perceived. Property becomes a tool to prop up their perception of themselves through others thinking more highly of them. These are often people who love to drop property reports into general conversation. Hoping to snare some self esteem through others' reactions. These people buy for prestige rather than wealth creation. They want an address and landmark that their mother-in-law, social set and the boss approves of and almost envies. Glossy prestige marketing lures them to overpriced deals that fail to capitalize to expectations. They may go sour on the concept of gaining wealth through property and find some other way to prop us their image. However, did they ever really look at property with open eyes to examine the business of creating wealth? Other clients are more concerned about doing it the right way. Hence every detail must be managed. They find professionals who do things their way and then collude with them about the rightness of the way they do things - a very circular way to complement yourself! Because of the level of detail required, due diligence takes on gargantuan proportions. Many deals are missed. Costs rise as professional are paid for their expertise. In their frustration, they may find a guru, suspend disbelief and follow their advice. Often this is more in line with their perception of the gurus qualities than the particulars of the property acquisition. Did they ever really go to find property or were they looking for the right way and property was just a thing to do to find it? These two examples sound extreme and yet are very common. Money is one of our great human experiences. It draws out of us unknown or unrealized assumptions about who we think we are in relation to money. Some of this is great and some of it is self limiting. To be in the business of wealth creation, wealth management, asset retention and cash flow management we need to be willing to make our property business the priority and give up a few of our emotionally patterned preconceived ideas. This is not a job for the faint hearted. Rosemary Johnston of LeadershipFirst a First One Pty Ltd Business.Rosemary provides coaching and facilitation services plus leadership development workshops to the Executives of some of Australia's Leading companies. Her web site is http://www.leadershipfirst.com.au. Rosemary is also an executive member of the Property Investors Association of Australia http://www.piaa.asn.au/ for more information on property.
MORE RESOURCES: Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business ‘Taken advantage of’: Real estate agent ripped off friends, church, and federal government - WSOC TV Experts predicted Minnesota real estate agents would quit, 5 INVESTIGATES found a different reality 5 EYEWITNESS NEWS Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Vail Valley real estate inventory is on the rise VailDaily.com NAR Real Estate Forecast Summit National Association of REALTORS® Real Estate Partners Dollar Tree Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times Dawson County weekly real estate transactions, July 18 Central Nebraska Today State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments Property management with an owner’s mindset J.P. Morgan Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine Real Estate Market Report (June) highlandscurrent.org SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Gravelle advises on current real estate market in Grant County Columbia Basin Herald Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense Frederick Ford, real estate executive and first Black Union League Club president, dies at 98 Chicago Tribune LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Home Buyers May Have Accepted a New Norm on Rates National Association of REALTORS® Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine New plans unveiled for Water Street’s second phase Tampa Bay Times Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Is Apollo Commercial Real Estate Finance Inc. a good long term investment - Explosive market performance Jammu Links News Wood County Recorder reports on second quarter real estate activity BG Independent News Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal Drake Real Estate Partners closes largest fund yet after pivoting to institutions Private Equity Real Estate | PERE Real Estate Transfers ~ June 25, 2025 The Bedford Citizen Real estate transfers: Lake Township condominium complex sells for $5.61 million - Canton Repository Manitowoc's real estate transfers include a sale of nearly $1 million to Riverside Dairy Herald Times Reporter Choice Properties Real Estate Investment Trust 2025 Q2 - Results - Earnings Call Presentation (OTCMKTS:PPRQF) Seeking Alpha CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia REBusinessOnline |
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