Bulletproof Investing

CHAPTER 16Assembling a team

By now, most of you will be thinking either ‘There's no way I am taking on hundreds of thousands — even millions — of dollars in debt’, or ‘If it were that easy, everyone would be doing it’. I want to remind you that there's no-one more risk averse and conservative than a qualified lawyer and accountant (with the possible exception of an engineer). No-one should take on too much debt, even if it is ‘good debt’.

There is no single way to invest — everyone has different levels of comfort around debt. Bulletproof investing requires you to take the kinds of baby steps I have outlined. I know this slow, steady approach works because I have friends, family and clients who have all followed this investment approach.

With my first investment property, I was comforted by John's ‘climbing a big mountain’ analogy. When you first arrive at base camp, you look up and see how far you have to climb. It can be daunting, even overwhelming — no different from setting out on the journey of building wealth.

The hardest part is getting started — getting to base and taking those first brave steps. Put your head down, focus on one step at a time and keep going! Every now and then, you will raise your head to see where you are going and how far you have come. Even when you are halfway up the mountain, it is important to remain ‘head down, one step at a time’. The climb is a long one — invariably difficult and challenging in places — but well and truly worth the effort. ...