Over the last six weeks I have ditched the Saturday sleep in. Instead, I've had the distinct opportunity to meet and network with brokers, agents and investors who have shared insight and practical intuition into property with me. Although I spend the rest of Saturdays writing blog posts such as this or studying for exams, this short and effective use of my time has been invested with the ROI of practical knowledge and on hand experience of how to play the property market the right way.
Sydney's property market has a globally competitive growth rate which, in its essence, attracts international investors and brokers into the valuable land down under. Being an ambitious, entrepreneurial teenager I wanted to expand my knowledge and experience in the industry (not knowing whether property would be for me or not). This is when I turned up to a local auction a few streets away and listened to the auctioneer and sales representatives do their thing. I had only ever gone to a couple of auctions and I didn't really have any expectations from attending, only to see the hammer fall at the sale price. Over the last six week period, I have definitely been mistaken.
What many won't understand is that although the auction is accommodating the seller and successive purchaser(s)/investor(s), the auction and open house also attracts brokers, investors and affiliated watchdogs in the industry. Now, depending on your interpersonal and networking skills, starting a conversation is the most direct and influential way to put your foot in the door. You will tend to find that investors will want to know if you're going to compete with them, so it's wise to make it clear of where it is that you stand.
I was fortunate enough to network with some local investors and brokers who have since reached out to me, shared valuable insight, explained the most effective ways to source additional residual streams of income through property, and also general advice for entering a globally competitive market.
I knew beforehand that to learn about property investing, as well as general saving and investing, I could direct my interest to tertiary education options, or, like the majority of my prior education, I could take ownership and do something for myself - that's what I chose to do.
Networking is often seen as a dangerous and highly contaminated way to meet like-minded people who could assist you professionally within the future. I've always steered away from traditional networking events because I believe that if someone would actually be able to assist you, they'd be taking action themselves. One of the main things I've taken away from the last six weeks is that if you aren't willing to take ownership for whatever it is that you're looking to do (or learn), don't expect things to come to you. Having taken the practical, direct and influential approach that I have, I have instantaneously brought about the respect and humility from those I have connected with, within the industry.
I encourage you to go out and learn from practicality over the slow and ineffective educational paradigm that we are continuously exposed to throughout our entire lives.
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