The Block couple save their skins, but only just…

Do you watch The Block? It doesn’t matter if you don’t ... I’ll give you the rundown.

A couple of weeks ago, contestants Jason and Sarah had a complete brain fade. They were meant to complete their master bedroom and ensuite but got overwhelmed and basically threw in the towel.

Everyone revealed some stunning rooms except for them – they hadn’t even plastered the walls.

So Scotty, the host made an ultimatum.

“Finish the master bedroom AND the kitchen by next Sunday or you’re off The Block!”

Here’s where they made their big mistake which almost cost them their spot.

It wasn’t that they didn’t finish.

It wasn’t that they virtually gave up.

It was when they were faced with a monumental task ... and they did ZERO planning.

They weren’t getting marked on the master bedroom or ensuite so as long as it was OK they’d stay in the game.

However they never stood back and asked themselves “how can we make this easier for ourselves?”.

They stuck with all their complicated joinery, plasterwork and tiles. And that’s just nuts.

A little bit of thinking goes a long way.

The herringbone tiles on the ensuite floor for example could have been replaced with nice big tiles. That would have saved hours on its own.

Now, why am I telling you this?

It’s because they’re not the only ones to fall into this trap.

Our senior members and I meet with a lot of investors who make the same mistake. So I won’t be critical. It’s easy to do.

Some are infatuated with investing close to home. Or getting an investment property they can move into in a few years’ time.

Instead they’d be far better taking a step back and doing a plan. They’d quickly realise they’d be better off investing in a higher growth area so they could grow it into 2 or 3 properties. They’d make much more money and find it even easier to get their dream home.

Then there’s other investors who fall for the negative gearing trap and kill themselves financially. Or go the opposite way and buy a dump just because it rents for a lot, then get horror tenants and no capital growth.

Again, a little planning goes a long way.

This is why we insist on reviewing your entire portfolio (if you have one) or at least your goals before we talk about your next step.

It might be one of our group buying opportunities isn’t the best step for you.

Having said that, high growth properties in areas with low supply which are cashflow positive are pretty hard to beat.

Either way, taking a step back and reviewing your strategy and aligning it with your goals is crucial. You can make a lot more money by doing a lot less with the right plan in place.

Even if you aren’t ready for your next move it’s best to start planning now so you know where you’re heading.

Our senior members run a lot of information sessions around Sydney if you interested in learning more, and can share insights into what might be the best direction for you.

Simply use the links below to find a location that's most convenient.

Warmly,

Lianna

(Click here for Inner West)

(Click here for Northern Beaches)

(Click here for Eastern Suburbs)