Property Investing is a Game of Inches

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Without doubt, one of the greatest speeches given in any movie is Al Pacino’s “Inches” speech in Any Given Sunday. I could watch that scene over and over again and if you haven’t seen it then I strongly advise looking it up (**offensive language warning here**). Al Pacino (Tony D’Amato) is talking to his team about the difference between winning and losing and the importance of inches. Basically, the idea is that you need to focus on moment by moment rather than simply the end result. If you get caught up in the end result you will miss the opportunity right in front of you to gain the upper hand.

What does this have to do with you? Well, like sport, property investing is a game and achieving your goals in investing won’t happen overnight. It’s a step by step process and sometimes the game will play into your favour, other times it won’t. Understanding when those moments are is vital and the only way to understand that is to be prepared to learn and stay up to speed with what’s happening around you. Luck is when preparation meets opportunity and right now, there is opportunity.

2.81% of property investors will own more than 5 properties and I can assure you it’s not because 97.19% of investors don’t want to own more than 5.

I had a long chat with one of my top investor clients last night and part of what I said to him was that so much of his current and future success is to do with his willingness to seek advice and learn. It’s not that he doesn’t know enough himself, because he absolutely does, however knowledge comes from being prepared to learn. So, I thought I’d give a list of my top 5 places you can go to learn and importantly, gain insights into the thought process of others who have succeeded:

  1. Read (or listen to) books – not rocket science. It doesn’t really matter what books either. I’m not a huge fan of property investment books as I find them too matter of fact and preachy. I am though, a big fan of books that dive into how successful people think and what sets them apart. Right now I’m reading Think! Before It’s Too Late by Edward De Bono. One of my favourites is The Monk Who Sold His Ferrari. Pick books that you enjoy, what’s important is that you read.
  2. Blogs – Much like the one you’re reading now ;p Blogs are a great way of getting good insights about the world in real time. Mostly because they’re short and often about whatever is happening right now. So following good blog writers should be a key part of your learning strategy. 
  3. Webinars – Or seminars once we’re back to normal and can be in large groups again. I will often get invites to sign up for webinars and usually I’ll subscribe but not attend. The reason for this is that the time wouldn’t be suitable but more often than not, they’ll send out the recording of the webinar the next day. So I can jump back in and listen when I’m ready and can concentrate. Webinars are great because they allow for group learning. The chat function means that other people listening can ask questions maybe you hadn’t thought of and the presenter hadn’t answered. If you want a good weekly webinar to jump on then check out the OPES Webinar.
  4. Podcasts – Podcasts are basically my lifeline to getting through traffic. The radio is a great way of winding down but podcasts get the creativity juices flowing. They’re pretty much the same as blogs, but in person interviews so you’re able to feel a bit more. Much like my opinion on reading, it doesn’t matter too much what you listen to. If you’re listening then you’re learning. Again though, if you want a good podcast specifically for property investing then the guys at OPES have cracked it again.
  5. Social Media – Social media isn’t only a place to share the best parts of your life! It’s also a great place to learn. Join a property investment group on either Facebook or LinkedIn. This is again a great way to get insights into investing and learn tips and tricks from people who are living and breathing property investment. You’ll get more or less live updates about changes in the property market, as well some great knowledge around what properties to buy (and not buy). It’s also a great place to get recommendations for professionals to use.

Remember what I said. Less than 3% of investors will have more than 5 properties but a heck of a lot more than that want it. Now is a great time to be getting prepared and learning as much as you can. So, surround yourself with a great team to learn from and give yourself as many chances as possible to win those inches.

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