It’s not impossible to get into the property market, you’ve just got to have the right mindset according to Nathan Birch. Picture: Thinkstock.

Mr Birch, 30, of property investment group, BInvested, bought his first property at age 18 and said despite rising prices young people shouldn’t give up on the goal of property ownership.

He said planning was essential, as was being prepared to make sacrifices.

AUSTRALIA’S APARTMENT HOTPOTS

HOMES BUYERS WILL PAY MORE FOR

His 7 tips on getting into the market sooner are:

SET GOALS

He advised being very specific about goals and figure out how you will measure your success.

“Will you have purchased one property each year, or saved a certain amount by the end of year one?’’ he said.

Mr Birch said goals needed to be attainable. “Shoot for the stars, but have a plan that you will be able to achieve if you work incredibly hard,’’ he said.

Also be about what can be achieved and set a time frame to achieve the goals within.

Nathan Birch reckons that by following his seven steps you can finally get into the property market. Picture: Justin Lloyd.Source:News Corp Australia

BREAK IT DOWN

“Property investment is not an easy road. There is a lot of work involved to make significant head way.’’

Mr Birch said potential buyers should break down the process into achievable actions and milestones which ensure they will stay on track.

WRITE IT DOWN

“A contract isn’t a contract until it’s in writing,’’ he said.

“Putting your goals in writing will help you stay focused and take steps to achieving your goal.’’

TURN ROAD BLOCKS INTO BUILDING BLOCKS

“Let go of the little things and keep going, find a way to get around on it,’’ he said.

FORM A HABIT

“It takes between 21 and 28 days to form a habit. Whatever you are doing, make it a habit.

“If you are putting away money each week, be consistent with the day and time, so this can become routine.’’

REVIEW GOALS AND PROGRESS REGULARLY

“It is important to regularly review your goals and strategy, to ensure you are staying on track.’’

Mr Birch said things changed so it was important to reassess goals and action plans.

BUILD A DELAYED GRATIFICATION MINDSET

“Work for the long term not now,’’ he said.

“One of the biggest downfalls people have when it comes to setting goals is their eagerness of wanting to reap the reward now. Having a long-term goal and sticking to it is so important especially when the reward is greater.’’

When it comes to choosing a property for investment Mr Birch said he always made sure it had these three things:

- BUY BELOW MARKET VALUE

- MAKE SURE IT HAS UPSIDE FOR GROWTH

- STRONG CASH FLOW (NEUTRAL OR POSITIVE)