Control is a very, very important part of wealth-building, especially income properties in London, Ontario.
Investing Control: The ability to influence or impact the future value and net income of your investment.
Investing control is essential for almost any type of investment. For the stock market, mutual funds, EFT’s, for most, it is challenging to control, and if you think you have control, it reminds me of a wise sage who commented: “If you are playing poker and are trying to figure out who the sucker is, it’s you!”
For real estate, wise investors want active control over their properties; however, most investors would rather be passive. The tiny few who grow wealthy prefer to be active investors.
The majority of families focus their investments into assets they do not control. This is why they struggle to accumulate “real” wealth. This is also why many people will not have enough money accrued.
In fact, it boggles my mind that most people prefer not to be in control of their investments. They would much rather have mutual fund planners, stockbrokers or someone else controls their money. “Done for you,” wealth is not available. You are going to have to do much of it yourself. You do it by controlling assets.
It is perfectly fine to invest a small portion of your money into investments you do not control. But I would be cautious investing large sums of your money into uncontrollable ventures.
If you study wealthy people, you’ll quickly see that they do the exact opposite of everyone else. They desire, fight for and cherish control. Everyone else wants, cherishes and pays big money to have no control. Notice the difference?
I believe most people prefer passive investments because they are more comfortable. Passive investments allow the investor to invest without having to take any responsibility. Passive investments do not require the investor to be decisive. Passive investments do not need the investor to get his or her hands dirty.
Control requires that you take responsibility for your investments. Control requires you to be active. Control requires that you pay attention. Control requires that you be decisive. Control requires you to roll up your sleeves and get dirty every once in a while. Some believe control is risky. I think a lack of control is dangerous.
Once you have control of your investment, you should work hard to increase its value. You increase profit by increasing its income.
One of the most valuable wealth-building skills you can have in life is the ability to increase the net income of your investments. With this skill, you can write your ticket.
You must strive for control over your investments. Monitoring is critical for real wealth. Don’t be lazy.
Don’t copy the masses and be like most real estate investors who happily turn over control to their hard-earned money! When are you ready to take control? If now, why not contact me and we can sit down and see how I can help.