Posted on August 3rd, 2022

Kicking goals in property investment: How to pick a winning team

A message from our CEO & Founder, Joseph Chou

I’ve always loved how passionate we Australians are when it comes to our sport – and as we get closer to the Rugby and AFL finals season, I’ve been thinking about the attributes a person needs to become part of the sporting elite, and what sport can teach us about life in general, and property investing in particular.

Assessing risk

Watch closely when a player is preparing to kick a game-changing goal. In those few precious moments while the crowd is holding their collective breath, the player is no doubt assessing the risk and balancing it against the potential rewards.

Where a sports person would consider the weather conditions and the other players on the field – when researching a new investment, a property investor would also consider the current climate and other players such as property supply and demand.

The game plan:

There’s no doubt we’re in a fluctuating property market right now. The rise in interest rates has come faster and harder than many expected and when coupled with a surge in inflation we’ve been met with a whole new set of challenges and opportunities.

No matter the climate, property investing always comes with a certain amount of risk. Assessing your own risk on this new property investing playing field takes a certain level of expertise and skill to help you filter out all the negative ‘white noise’ and focus on the game at hand.

As an experienced property investor of some 24+ years, I can assure you we’ve seen this all before, and this is where the importance of adopting a strategic property building portfolio with a long-term focus really comes into play.

Property investing is a marathon not a sprint, and while there will always be uncertainty in one area or another, I consider us very lucky to live in Australia where there is a great track record in the property market.

Getting in on the action

Property investing is not a spectator sport. A great athlete doesn’t want to spend every waking moment in training only to be left sitting on the sidelines watching everyone else take the glory. The same can be said for a successful property investor.

I’ve lost count of the number of people I’ve spoken to who’ve spent so much of their time learning everything they think there is to know about property investing, attending seminar after seminar, only to effectively ‘bench’ their knowledge, too afraid to take the next step.

The game plan:

No one has a crystal ball that can accurately predict every little move in the economic cycle. But one thing I do know for sure is that if you do nothing, you’ll get nothing back in return.

In football terms, they say the best defence is a good offence, so if you’re at all worried about what the property market is going to do, then now is the perfect time to position yourself ahead of the game by taking action to secure your financial future.

Remember, fortune favours the brave, so why not finally make the decision to talk to experienced investors who know how to make the most strategic moves in a challenging economic environment? Then while everyone else is buying into all the click-bait noise about what might or might not happen, you can start building a solid, knowledge-based foundation on which to grow your wealth.

The importance of a great coach

There’s a quote I’m inspired by which reads: “A good coach can change a game. A great coach can change a life”.

I certainly wouldn’t be enjoying the life I have today without the wisdom and experience of mentors who coached me along my own path to building substantial wealth.

When I was playing table tennis on the school team, rather than just rely on the school coach, I approached our local table tennis champion to be my coach. With his instruction and guidance, I soon became one of the top players, both on the school team and locally.

In the sporting sense, the experience of seeking advice in property investing is very much like that of the players and their coach.

Coaches talk to their players about their needs and goals, discover what motivates them and then make suggestions suited to their particular style of play.

They’ll also help them to become mentally match fit for the game ahead, ensuring they keep their eye on the prize by staying focused and disciplined.

These are exactly the same tactics we apply at Ironfish to help our property investors reach their dream goal.

The game plan:

Success in property investment is extremely difficult to achieve entirely on your own, and yet so many people dive in with no experience and more importantly, no clear strategy of what they want to achieve, both in monetary and lifestyle terms.

In times of uncertainty, people need good guidance more than ever – the right mentor (coach), the right advisors (players) and the right strategy (game plan).

We think of property investing as a team sport, so when you partner with Ironfish, you’ll be building your team with players who are already at the top of their game.

Getting yourself match-fit for the game

When two champion athletes perfectly matched in skills and physical fitness go head-to-head in battle, the defining characteristic that invariably decides who wins the game is mental toughness.

Great athletes or football teams don’t crack when they miss a point, kick a bad ball or even lose a match, because they know they have a whole season ahead.

Successful property investing asks you to adopt a similar long-term focus and remain resolute in your journey to financial freedom no matter how many twists and turns you may encounter along the way.

I call this ‘mental toughness’, and it keeps you going when you get nervous or start thinking about deviating from the long-term plan. Once you have made a commitment to yourself, mental toughness will help you stay on course year after year.

The game plan:

Mental toughness is like a muscle that needs exercising, but in my experience if you practice daily, it can help you in every area of your life.

When you are mentally fit you have the power to:

Make decisions (even uncomfortable ones) that achieve the things most important to you
Don’t get side-tracked or spooked by media noise
Accept that there will be obstacles in your way, but never let them stop you from doing what you need to do
Stay focused on the things you can control
Adopt a positive mindset and see every challenge as an opportunity to grow

Ready to get in the game?

Here at Ironfish, our scoreboard in the property investing game is beyond impressive. For over 16 years, our elite team has helped over 12,000 clients build a portfolio of quality property assets, backed by the latest research, strategy and personalised support.

If you’re ready to kick off your financial plan, your team is waiting.

Join our free webinar and discover the 5 secrets to wealth

Many people dream of being wealthy, but do you really know what it takes to make it a reality?

Property millionaire Joseph Chou reveals the 5 secrets to wealth.

Join our latest free live webinar: ‘Behind the headlines: The facts about the property market outlook’

It seems like no matter where we look, all we hear from the media around property is doom and gloom. But is it? We’ll let you in on a secret – it’s not.

Learn why 2022 is a property investors dream and the perfect time for renters to start their journey to financial freedom.

Join our webinar on 18 August where host, Grant Ryan, Ironfish’s Director of Property & Insights, talks to Dr Andrew Wilson, leading independent property expert on the state of the property market around Australia.

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