It's a perfectly natural part of building a portfolio...
Hey guys,
Sorry i haven't written for a while, I have been focussed on getting the book ready for publishing. We've also been spending a lot of time designing and planning the workshops which will become an integral part of the 3+1 Plan. Add to that the fact I am off to Australia soon to get married and you'll see that i haven't had a lot of time.
Simon had a portfolio review meeting with some of our clients on Saturday. They have build a successful portfolio with us now valued at £1.8 million. Now the good news is that they are really well funded and in great shape.
They booked in to come and see us because they had been losing sleep over the uncertainty in the market. I dropped in for he last 10 minute of the meeting as Simon wanted my me to add my opinion to what he had told them.
Funnily enough we both had the same thing to say:-
Financially they had absolutely no cause for any concern whatsoever. Their portfolio was in great shape and they still had a sizeable provision account left over.
Emotionally they had been losing sleep over 'What might happen!' in the market. I told them that there is nothing they can do to change the market, they must life within it. They have no power to change it what they do have the power to change in their way of thinking about it.
I reiterated that building a portfolio is a major emotional change program and while they were buying the properties it was all exciting as stuff is happening all the time. Then once you are holding the portfolio (and especially if you have used my 76 point Set and Forget Checklist) you have very little to do. This often means your brain will find other things to do, and normally this will mean it will worry, it should be focusing on creating a better lifestyle but that's all part of what psychologists call 'the human condition'.
I paused, then said "There is no magical answer to your sleepless nights, its a perfectly natural part of building a portfolio, you have to experience it and grow through it. Once you have lived through it your emotional inteligence will grow and then other challenges will be present to you to face. For now, all you can do it sit back and enjoy the opportunity to grow"
It might seem like it's a bit of a convenient palm off but the truth is some things you have to just live through these emotions and 'Oh S*&t' moments. Simon and I could have found many wonderful ways to allay their fears and emotions but sometimes it just as important to say 'Sit back, take a deep breath and enjoy the ride.'
So if you find a mild frustration, a slight twinge of fear, a mild aching to buy more property or maybe a simple uncertainty about the market it might be time to check in and make sure that you are financially fine. It may just be that you are experiencing a perfectly natural par of building a portfolio and just ned to work your way through it.
As always the team are here. :)
Live with passion,
Brett Alegre-Wood