Failing to plan is planning to fail. This is as true in property investing as it is with anything else. And in this article, we’ll teach you how to plan for your portfolio’s growth.
$70,000 passive income in 15 years.
That was the goal Peter had set for himself when he first started investing in property.
But he didn’t have a concrete plan on how to achieve that goal. So, he just started by purchasing five properties.
Then came the question: Now what?
Peter did not know if those five properties were enough to hit his $70K passive income goal within 15 years. So, he sought help from us here at Dashdot to find out.
We decided that the best way to move forward was to draft a portfolio growth plan for Peter. This way, we could get an accurate projection of how much his five properties would be earning him 15 years down the road.
And what we found out was very interesting:
Peter had already reached his goal!
In fact, he’d already exceeded it.
See, even if he were to forget all about his portfolio and make absolutely no more investments, he’d still hit $110K in passive income after 15 years.
That’s absolutely insane, right?
And when we told Peter this, he was ecstatic! But instead of taking it as a cue to chill and do nothing…
It only motivated him to set higher goals and close more investment deals.
Such is the power of having a portfolio growth plan.
What’s a Portfolio Growth Plan?
So, what exactly is a portfolio growth plan… and what does it do?
Well, it’s a strategic plan that we help our clients to build. The idea behind this is that we take into account all the client’s goals, hopes, and desires. Then, we translate all that into an investing roadmap for them to follow in order to achieve their goals.
Because in reality, anybody who goes into real estate comes on board with a big goal they want to achieve. But very few actually put thought into how they would achieve it.
The portfolio growth plan bridges this gap by helping you determine what exactly you need to do in order to get the results you want.
For Peter, having a portfolio growth plan allowed him to dream bigger.
But that’s not the only benefit you can get out of having a portfolio growth plan.
Benefits of Having a Portfolio Growth Plan
Here are some other benefits of the portfolio growth plan we build for our clients:
Benefit #1 – It gives clarity over your investment plan and strategies
One of the best things about the portfolio growth plan we prepare for our clients is that it’s scientific.
The output is created by a rather sophisticated piece of software that maps out the specifics of what strategies you need to employ to make your goals a reality.
You see, the alternative is just tragic. Because without clarity on what your investment plan and strategies should be, you’d be left to do trial-and-error. And while this approach is not inherently wrong… it could really delay the realisation of your goals.
If you’re working on a strict timeline, not having a growth plan could even make you fail completely.
Benefit #2 – It gives you an accurate projection of what will happen after you make a specific investment move
It’s one thing to do trial-and-error blindly…
And a whole other thing to do it with a full understanding of what the consequences of each decision would be.
Now, the portfolio growth plan allows you to do the latter. That’s because you can simply tell us something like:
“I want to get to $100K in 10 years.”
Then, with a crazy high level of mathematical accuracy, the software will present you with a couple of options on how you could get there.
And you could play around with your variable factors, too!
You could check out what would happen if you take equity out of one property…
Or add more of your savings to your capital…
Or if you extend your time horizon a little bit.
Every single thing can be adjusted so you could gain a pretty accurate foresight of what would happen if you make a specific move. That means your portfolio growth plan could be as personalised as possible for you to hit the specific goals you want to achieve for yourself.
Benefit #3 – It’s a roadmap to get you from where you are now to where you want to be in the future
As mentioned before, you probably already have a big goal in mind.
…But you might not have a clear idea of how to get there.
With a portfolio growth plan, you could learn the exact steps you need to take to get from Point A to Point B.
And that means…
Benefit #4. No more analysis paralysis
If you talk to any number of seasoned investors about their regrets, you’d get a lot of answers similar to the following:
“I wish I had been more decisive and aggressive when I was starting out.”
And that’s because way too many investors spend a very long time on the sidelines. They waste time by doubting what they’re about to do and being uncertain of how best to proceed forward.
Indeed, the infinity of possibilities when it comes to property investing is enough to paralyse an unprepared investor.
But when you do have a plan on how to grow your portfolio, you eliminate the analysis paralysis. And that allows you to move forward with grace and decisiveness. In turn, you get to where you want to go much faster and with more ease.
Let’s Create Your Growth Plan
As we all know, failing to plan is planning to fail.
And succeeding as a property investor is not easy. Otherwise, everyone would have done it already.
That’s why you need a portfolio growth plan that will help you hurdle the obstacles up ahead… and ultimately bring your biggest goals into reality.