[et_pb_section bb_built=”1″ admin_label=”Section_2_Text Left:” fullwidth=”off” specialty=”off” transparent_background=”off” background_color=”#f7f7f7″ allow_player_pause=”off” inner_shadow=”off” parallax=”off” parallax_method=”off” padding_mobile=”off” make_fullwidth=”off” use_custom_width=”off” width_unit=”on” make_equal=”off” use_custom_gutter=”off” custom_padding_tablet=”50px|0|50px|0″ custom_padding_last_edited=”on|desktop” inner_width=”auto” inner_max_width=”none” next_background_color=”#ffffff”][et_pb_row make_fullwidth=”off” use_custom_width=”on” width_unit=”on” use_custom_gutter=”off” padding_mobile=”on” allow_player_pause=”off” parallax=”off” parallax_method=”off” make_equal=”off” parallax_1=”off” parallax_method_1=”off” parallax_2=”off” parallax_method_2=”off” column_padding_mobile=”off” custom_width_px=”768px” custom_padding_last_edited=”on|phone” background_color=”#ffffff” custom_padding=”60px|60px|60px|60px” custom_padding_phone=”40px|20px|40px|20px” background_position=”top_left” background_repeat=”repeat” background_size=”initial” width=”80%” max_width=”768px”][et_pb_column type=”4_4″][et_pb_post_title title=”on” meta=”on” author=”on” date=”on” categories=”off” comments=”off” featured_image=”on” featured_placement=”below” parallax_effect=”on” text_color=”dark” text_background=”off” module_bg_color=”rgba(255,255,255,0)” use_border_color=”off” border_color=”#ffffff” border_style=”solid” disabled_on=”off|off|off” disabled=”off” custom_margin=”||40px|” title_font_size=”36px” title_font_size_phone=”28px” title_font_size_last_edited=”on|phone” title_text_color=”#00afff” meta_text_color=”#95989a” _builder_version=”3.4.1″ saved_tabs=”all” global_module=”7384″ background_position=”top_left” background_repeat=”repeat” background_size=”initial” locked=”on” \/][et_pb_text admin_label=”Text_B:” use_border_color=”off” background_position=”top_left” background_repeat=”repeat” background_size=”initial” animation_duration=”500ms” animation_intensity_slide=”10%” animation_direction=”left” show_bottom_space=”on” _builder_version=”3.4.1″]<\/p>\n
Grit. Tenacity. Stubbornness. Whatever term you use to describe an individual who never quits, Sam is one of those people.<\/p>\n
His success did not come easy, however, and in this month\u2019s edition of Smart Property Investment Magazine, readers will be moved by Sam\u2019s honest discussion about his property investing mistakes and will be inspired to work through their own mistakes as they continue their property investing journey.<\/p>\n
Sam\u2019s first purchase was a unit in Putney, New South Wales in 1996. He purchased it at the wrong time, and for the wrong reasons, however at the time he was simply following what his friends and family had done, however he made his move at the wrong time.<\/p>\n
The cost of his error? A $30,000 dollar loss as a result of buying at the wrong time.<\/p>\n
Lesson learned<\/em><\/strong> \u2013 The market should dictate your purchase, not your personal whims.<\/p>\n Employed in a real estate office, Sam sought property investing advice from individuals who were well versed in selling real estate, yet they lacked the necessary knowledge and experience to invest in property themselves.<\/p>\n Lesson learned<\/em><\/strong> \u2013 To learn the ropes in property investing, seek out individuals who are successful property investors.<\/p>\n When he purchased his first property, Sam didn\u2019t realise that his property investment strategy would be determined by his particular financial situation.<\/p>\n At the time, his salary was not very high, so what he really needed to focus on at the time was receiving a faster rate of return on his investment. Given the fact that he purchased at the top of the market, he simply didn\u2019t have the equity to wait until the market cycled again.<\/p>\n Lesson learned<\/em><\/strong> – Your choice of property investment must be determined by the manner in which each purchase fits within your portfolio.<\/p>\n Sam\u2019s rigid approach to investing in real estate by focusing on only the one deal (which he had fallen in love with) closed his eyes to other, more profitable opportunities in the marketplace.<\/p>\n This approach cost him $30,000 and who knows how much in terms of lost opportunity.<\/p>\n Confident in the knowledge he\u2019d gain since his first purchase, Sam\u2019s profitable second purchase was the result of a hot tip combined with smart negotiating.<\/p>\n Sam\u2019s good rapport with other real estate professionals and his savvy deal-making led to a great result.<\/p>\n Lesson learned<\/em><\/strong> \u2013 Don\u2019t wait for the deals to chase you down \u2013 you chase them!<\/p>\n Timing really is everything. Sam learned this truth after tying up his funds in two off-the-plan deals which failed to be completed during the GFC.<\/p>\n As his money was in the deposits, when an opportunity came which would have yielded $500,000, Sam had to turn it down.<\/p>\n This missed opportunity taught Sam the importance of studying the markets and buying at the right time.<\/p>\n Lesson learned<\/em><\/strong> \u2013 If you plan to purchase an investment property \u2013 especially if it\u2019s an off-the-plan strategy, understand the markets and time your investment well.<\/p>\n Like many property investors, Sam learned some hard lessons along the way \u2013 lessons that he used to create a multi-million dollar investment portfolio.<\/p>\n [\/et_pb_text][et_pb_text admin_label=”Text_Click here to like us…” use_border_color=”off” background_position=”top_left” background_repeat=”repeat” background_size=”initial” _builder_version=”3.22.2″ saved_tabs=”all” locked=”off” text_text_shadow_horizontal_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_vertical_length=”text_text_shadow_style,%91object Object%93″ text_text_shadow_blur_strength=”text_text_shadow_style,%91object Object%93″ link_text_shadow_horizontal_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_vertical_length=”link_text_shadow_style,%91object Object%93″ link_text_shadow_blur_strength=”link_text_shadow_style,%91object Object%93″ ul_text_shadow_horizontal_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_vertical_length=”ul_text_shadow_style,%91object Object%93″ ul_text_shadow_blur_strength=”ul_text_shadow_style,%91object Object%93″ ol_text_shadow_horizontal_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_vertical_length=”ol_text_shadow_style,%91object Object%93″ ol_text_shadow_blur_strength=”ol_text_shadow_style,%91object Object%93″ quote_text_shadow_horizontal_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_vertical_length=”quote_text_shadow_style,%91object Object%93″ quote_text_shadow_blur_strength=”quote_text_shadow_style,%91object Object%93″ header_text_shadow_horizontal_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_vertical_length=”header_text_shadow_style,%91object Object%93″ header_text_shadow_blur_strength=”header_text_shadow_style,%91object Object%93″ header_2_text_shadow_horizontal_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_vertical_length=”header_2_text_shadow_style,%91object Object%93″ header_2_text_shadow_blur_strength=”header_2_text_shadow_style,%91object Object%93″ header_3_text_shadow_horizontal_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_vertical_length=”header_3_text_shadow_style,%91object Object%93″ header_3_text_shadow_blur_strength=”header_3_text_shadow_style,%91object Object%93″ header_4_text_shadow_horizontal_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_vertical_length=”header_4_text_shadow_style,%91object Object%93″ header_4_text_shadow_blur_strength=”header_4_text_shadow_style,%91object Object%93″ header_5_text_shadow_horizontal_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_vertical_length=”header_5_text_shadow_style,%91object Object%93″ header_5_text_shadow_blur_strength=”header_5_text_shadow_style,%91object Object%93″ header_6_text_shadow_horizontal_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_vertical_length=”header_6_text_shadow_style,%91object Object%93″ header_6_text_shadow_blur_strength=”header_6_text_shadow_style,%91object Object%93″ disabled=”off” disabled_on=”off|off|off” z_index_tablet=”500″ global_module=”12271″]<\/p>\n \nClick here to like us on Facebook and see more updates like this.<\/a><\/strong><\/p>\n Hey there, do you enjoy the TRC-Gorod Blog? If you did, why don\u2019t you book into a Property Information Night in your area and get more information from our team. You can do so here<\/a>.<\/p>\nMistake Number Two<\/em>
Sam Wasn\u2019t Listening To The Right People<\/h4>\nMistake Number Three
Why Are You Purchasing The Investment?<\/h4>\nMistake Number Four
Rigid Approach To Finding A Deal<\/h4>\nMistake Number Five
Believing That Time Will Always Solve Your Real Estate Issues<\/h4>\n