I recently caught up with a guy who had called me a “loser” for buying my first property in the Victoria suburb of Bayswater (not exactly a hip place at the time) as all of my friends were moving in to Hawthorn (much trendier). At the time my friends really couldn’t understand what I was doing, and this seems to be something many people I speak to at the moment are experiencing. So I thought it was time to talk about sacrifice and how that relates to property investing.
Once I started thinking about writing this blog I thought about the Monopoly board game. Random? Yes, but stick with me here. What I realised is to start this game off, you’ve got money in your account and some choices. You can keep going around and collecting your money as you go pass Go, but, you can also buy a lot of property, so much so that it gets to the point that you’ve got almost zero dollars but you’ve made sacrifices and you know you’re soon going to start reaping the rewards.
This folks is delayed gratification – you‘ve spend all your money buying these properties as you’re going around and then what happens? Money starts to come back to you. So then you upgrade your property, you put up some houses and hotels and hey-presto! You win the game and get some serious satisfaction about making those choices whilst your friends just kept going around, collecting their money.
Moral of the story today? Don’t let what other people think deter you from your goals and if necessary, make the sacrifices you need to, to win the game.
Director of OpenCorp, Cam McLellan is committed to sharing his passion and property investment knowledge with everyday Australians.
After thriving in the telecommunications, technology and recruitment sectors and making the BRW Fast Starters list twice and the Fast 100 list three times in 8 years, alongside accomplished OpenCorp entrepreneur and brother-in-law Allister Lewison, founded OpenCorp eight years ago.
Cam started investing in real estate at a young age and quickly mastered the art of building sustainable wealth. He has used the same wealth building strategy to develop a multi-million dollar business, sharing his knowledge and skill with ordinary Australians. Cam has personally bought, sold and developed numerous properties and has an extensive residential and commercial investment portfolio.
Disclaimer: while due care is taken, the viewpoints expressed by contributors do not necessarily reflect the opinions of Your Investment Property.