The property market is a brilliant market to invest in. Many success stories have been told in this very game of property investment. As the old saying goes: the older you get, the wiser you become. This is no different in this industry. Experience will be your best friend in the journey of your success story in the property field.

Through extensive knowledge and perseverance, we are able to accumulate experience as lessons to be applied in our lives. Just like the market, our lives tend to be unpredictable, too, don’t we all agree? Sometimes, it’s all about fixing the source of energy within you to enable a greater perspective.

Do not hate the player, do not hate the game. Instead, reflect on both to inspire you for greater success, be it in business or in life.


1. Never give in to the naysayers

The naysayers are all over the place these days. Relating to the property game, it may seem like a tough job to look for the right type of property. This can be due to the unfavourable market climate at the moment or our financials not being on point to take on these investment opportunities.

A good number of people would throw in the towel and call it quits before the game is even over! Do not be the majority. Do not go along the wave. How about fighting through the current coming at you? You may even have wrongly invested in a property that’s located in a secluded area. All odds may seem against you. Nevertheless, remain upbeat and constantly remind yourself that there is no such thing as a bad investment. The result is determined by your plan of execution.

The masses have undergone this dilemma and now they may be telling you that you can’t do it, too. Take in useful information and ignore the rest of the noise. So what if you failed the first time? Stay cautious for the next round. The real estate business is as such that it only keeps those willing to lose yet will win big eventually!


2. Never stop learning

The more you learn, the more you earn! It sounds catchy but it’s so true. Knowledge is limitless and is everywhere around us. Stopping the learning activity only causes more harm than good. People often underestimate where knowledge comes from. The folks we meet on a daily basis may provide a couple of tips about the property scene. Our elders, who have lived longer than us, are well-experienced and resourceful in acknowledging the pattern recognition occurring in the current market condition.

Get curious and accept the fact that there may be others who know matters that we do not know. Therefore, constantly seek information that may be beneficial in your journey as an investor. Listen and respect the person passing that valuable insight that may cater towards your needs. Avoid being sure of everything despite the fact that you may be in the industry for decades and boast plenty of experience. The day you think you know everything is the day you have the most yet to learn.

It also goes without saying that strategies such as these should be applied in every aspect of our lives.


3. Relationships matter

No, we’re not saying get into a romantic relationship with someone. We’re stating that networking should be an important part of everyone’s lives. You may have had those moments when you engaged with like-minded individuals that formed instant connections, especially on how you understand each other so well. This euphoric scenario can be further expanded into any businesses such as the property business.

The key here is observation skills. Let’s just say you’re hanging out with a mentor or relevant individuals to your quest. Critically analyze the way they behave and the perspectives they preach. This enables us to be self-aware of how we can improve and add more value to our lives by training ourselves to be as perfect as possible for the success bandwagon.

Every tip or opinion they provide may be interesting matters to consider as a form of guidance and support. In return, one must be willing to offer some form of value. Business relationships or personal relationships are similar in this sense, that both sides are a two-way process of adding value to each other.


4. Long term over short term

People tend to win more when they look at the long term. This depends on how an individual sees their future. Some choose to invest for quick gains in hundreds of thousands of dollars, while others fish for bigger catches.

Haven’t we come across big-city properties nowadays that cost a penny a decade or two ago but now sit at millions of ringgit in property valuation? That’s the idea here. Short-term predictions can be a risky situation to be in, which doesn’t sit well with sustainability in regards to wealth.

Thus, patience is a virtue. Avoid behaving like rookies who impatiently buy and sell their units within few years upon buying. Flipping and selling houses can happen on the long run, too. With the right strategy and a plan for the future, you’ll almost always be on the winning end across these investments, just like planning way ahead in life.



Conclusion

Like the fluctuating market conditions, life itself is a journey of self-discovery which contains high and low moments. The fact isn’t about whether we’ve made a successful investment but it’s more about whether we encountered the right missteps we can prevent in the future.

The experience learning curve should never stop in this industry or in life. We must become the best student out of all these life lessons to enable growth and value in our lives.

(By: Sathish Veera)