One of the big mistakes I see investors make is getting distracted from their plan or strategy for wealth creation.

We live in a world with distractions everywhere. It is easy to get distracted by bad advice, get rich schemes, unproven investment concepts, or the latest money-making venture.

Then there are the inevitable negative thinkers who show up in your life that kill your chances for success as a real estate investor ... if you let them.

Only last week my wife Pam, who heads Metropole Property Management, told me that one of her clients, who was already a property investor, was considering buying another investment property as they had plenty of equity in the family home.

She knew how well property investment works because the one investment property she owned had increased in value over the years and her house had also grown in value considerably. But she decided against investing because her sister told her that it is a bad time to invest, the property market has slumped and property prices won’t go up for a long time.

When Pam asked how many investment properties her sister owned she was told "none." In fact, she didn’t even own a house - she was a tenant. It just goes to show you have to be careful to whom you listen.

The sad part is the biggest negative thinkers you are going to run into are going to be your closest friends and relatives. So, in many cases, it’s not easy to ignore their negativity.

It takes some effort on your part.  Remember, it’s not your job to get them to change (they probably never will). It’s your role to keep yourself on track, then once they see the success that you’re achieving they may change their outlook. Stay focused on your proven and chosen investment system.

You do have a system for your investments, don’t you? 

If not I suggest you read my book “How to Grow a Multi Million Dollar Property Portfolio in your spare time” where I will give you a system – a blueprint to your financial success. Click here to find out more.

Staying focused is also difficult when you get the other extreme of the distractions and messages out there from many “get rich quick schemes” and so called “property gurus.”

My recommended property investment strategy is to invest in prime real estate, add value where you can and wait for the magic of time and compounding to make you wealthy.

The problem for many investors is this strategy is boring and some consider it slow. But successful property investment is a long-term affair.

Many investors look for the latest fad, such as overseas investing or try to finding the next hot spot or speculative growth areas. Other investors consider other types of investments with potentially higher returns.

When you are tempted to do this remind yourself that real estate has been the number one long-term multi-millionaire maker throughout Australia’s history, yet most people that speculate in the latest fads have not made much money.

You don’t have to look for the latest fads or the latest speculative growth areas if you create your own capital growth through buying a good property at a fair price, then adding value through refurbishments, renovations or redevelopments. By doing this you are manufacturing your own capital growth.

Michael Yardney's
 "Real World" Real Estate Workshop

This 3 days event has sold out 6 years in a row and this year will be no different.

What is different this year is our changing market conditions, and this year we will show you how to exploit the new era in property.

Take advantage of advanced techniques such as property renovations and development together with purchasing commercial properties as well as intelligent use of options that could enable you to achieve strong cash flow from your investment properties. There's never been a better time to hold our annual workshop.

Whilst many investors struggle to hold on to their negatively geared properties in today's market, smart investors are moving to new levels by having better skills, unique strategies and intelligent planning.

The current market offers outstanding opportunities to move up to the next level and become an active participant in your property investments creating your own capital growth and strong cash flow. It's a time for learning and growth and a time to re-invent your real estate investment techniques.

Click here to find out details about our "Real World" Real Estate Workshop