The footy season has started and the ladder is starting to take some shape after the first few rounds are completed. There’s still a long way to go till the finals – and if the past couple of years are something to go by, anything can happen.
The ultimate goal for a footy team is to win the Grand Final. However, the team is made up of individuals with their own personal goals which all lead to the Grand Final.
Let’s explore how professional football players can guide us toward successful property investing.
1. Set a goal
Each individual player has goals. They are not necessarily the same. Some may strive to play at the most senior level. Some have goals to kick the most goals throughout the season. Others have goals for the most coveted prize: the Brownlow Medal. (My eldest son Max – pictured in the photo with his footy heroes – has all of these goals!).
Through customised training based on an individual’s strengths, weaknesses, fitness level, health, and other factors – each player’s individual goals can be reached.
Comparatively, a property investment advisor tailors strategies according to the goals of investors – based on their finances, stage of life, risk preferences, borrowing capacity, and lifestyle preferences.
‘Grand Final’ goals may include:
- Provide a private education for their children
- Have a nice holiday every couple of years
- Help their offspring get on the property ladder in the future
- Put themselves in a strong financial position for retirement
2. Train hard…Play hard
Despite intense training and game strategy, there will always be ups and downs in footy. Players know it’s part of the game to deal with adversities such as injuries, periods of bad form – and sometimes, just bad luck.
Likewise, for property investors, it’s how we cope with these adversities that determines our outcome.
Successful property investors know that problems can be worked through, strategies can be reviewed and changed, markets will change – and luck favours those who give it a go. You won’t go anywhere if you don’t start walking.
3. Make sacrifices
Top level footy players make incredible sacrifices. When their friends are hitting the town drinking and visiting clubs, they’re tucked in bed early to make the most of the next morning’s training session.
Property investors do the same. You say ‘no’ to things you’d really like to do and spend your money on – because you have a bigger goal. And you know the sacrifices you consistently make now, no matter how hard – will pay off down the track.
“Today I will do what others won’t, so tomorrow I can accomplish what others can’t”
– Jerry Rice (former NFL football wide receiver for San Francisco 49ers)
4. A good coach and team
There’s no ‘I’ in footy. Footy players are supported by a strong group of professionals. There’s the:
- Head coach
- General manager
- Medical staff
- The rest of the footy team
Each person is carefully chosen for their skills, experience, and track record for the best chance of reaching the finals.
Likewise as a property investor, the first step for any successful outcome is to surround yourself with a good team. One led by a competent, knowledgeable and experienced coach that has a proven track record.
Successful property investors surround themselves with a good team that includes:
- Finance brokers
- Financial planners
- Property managers
- Quantity surveyors
- Building inspectors
These are all led, and coordinated by a coach – the Property Investment Advisor / Buyer’s Agent.
5. Enjoy the wins
They may have their sights set on the Grand Final – but footy players need to celebrate the victories along the way. Every game they win (especially the ones in front of their home crowd). Every goal they make. Every goal they successfully defend.
For you as a property investor, your ‘best financial position in retirement’ may be the goal – but you can also plan a great lifestyle on the journey. There’s no point waiting until retirement to enjoy life. Enjoy the precious moments along the way.
6. Be persistent and have patience
Becoming the best player takes time, patience, and dedication. It doesn’t happen overnight.
Building a successful investment property portfolio also takes time, patience, and dedication. It will not happen overnight.
Summary: The footballer’s guide to successful property investing
Professional footy players can teach us a thing or two about what it takes for successful property investing. To successfully reach that goal of winning the grand final – a strong property portfolio – it helps to have a support team with proven track records, including an investment advisor to lead and coordinate them all.
A good property investor realises sacrifices need to be made now for a better future later – yet balances this with a strategy to also enjoy their lifestyle in the meantime. They realise things won’t always go as planned – but learn to adapt and work through problems with a positive mindset.
Finally, a good property investor knows it takes time, patience, and dedication to reap the rewards of a good property investment portfolio.
Hang in there and you’ll give yourself the best chance of success!
Who’s coaching your team and devising strategy for a successful portfolio – and future?