How planning can revolutionise your property game
Proactive property investors have a vital advantage over those who hit the panic button when trouble comes their way.
In an episode of Property Investing Insights with Right Property Group, company director Victor Kumar revealed how planning helps him approach each investment decision with purpose and clarity.
“I’m a big planner,” Kumar shared. “During the busyness of the year, you tend to lose focus and lose connection with what you’re really trying to achieve, whether it’s portfolio, life, family.”
For him, planning is an opportunity to reconnect with his purpose and recalibrate his relationship with property.
“When people don’t do that during the year, they’re lurching from crisis to crisis – whereas if you have a firm grip of where the money is, what you’re trying to achieve and what your cash flow is, then you’re actually lurching from opportunity to opportunity,” said Kumar.
His planning process is simple: every 90 days, the investor writes up a plan that encompasses investment, work, education and family.
“One quarter the balance may swing one day, another quarter it may swing the other way,” he said. Ultimately, the goal is to rebalance these different areas of life and strike an equilibrium.
“Life needs to happen in the forefront, investing in the background. So long as you just give both of them the due diligence and the attention it needs, you should be OK,” said Kumar.
In his experience, 90-day plans are particularly important to block out distracting commentary from social media.
“Everyone should take the time out to do that, because it does take you away from the noise, particularly the digital noise that we have in today’s day and age,” Kumar said.
“You get bombarded by different strategies, different news articles that keep focusing you into different directions. It’s really important to have [your plan] as a sanity pill.”
By planning out investment goals each quarter, Kumar noted it “allows you to come back to what’s more important to you and what you’re really trying to achieve, and allows you to then have that laser focus” for the months to come.
Listen to the full conversation here.
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