Luck in property investing isn't random. It's learning from mentors, modeling what works, repeating a proven process, and taking action. The speaker breaks it down as L-U-C-K: you inspect many properties, put in the hours, and execute consistently.
Chapters
When we're looking at luck, for me it's about understanding my goals, how they all fit together and how I'm trying to achieve what I'm trying to achieve. And when it comes back and I really started thinking about being lucky and doing what I do. Negotiating $100,000 off an asking price of a property does seem lucky to a lot of people, but they haven't seen the 178 properties that I looked at beforehand and the discussions with the real estate agents and the vendors and the investigations that I've done to get there. So this is my definition of luck. So when people tell me I'm lucky, I just agree. You know, you're right, my thoughts are luck. L stands for learning from those who know. So getting the knowledge. For me it's about attending courses, it's about talking to people who know what they're doing, getting the resources, getting the research, getting the tips, getting the tricks, reading the books, because you don't know what you don't know. So for me, the fundamental thing about being lucky is having the learning behind it. The second thing, the you I say is unlock your success models, model others. So unlock the key, find out what others are doing, talk to people. We're here at the moment talking about the ways that we have been able to achieve the success in property investing that we have. We're here at your disposal. Talk to us about what you'd like to achieve or the questions that you have and find out how we've done it. We've put together this two day course to show you step by step how we have done this. So unlocking and modelling others success is something that we're going to be giving you in the next two days. C's for cookie cutter. When you get it right, just keep doing it, refine it a little bit, but just keep doing it. It's those that get a little bit fancy and bored with their investment strategies that I find come undone. Those people who have three, four, five investment properties and you go, you know what, let's now venture into something completely different because we've done that and we're successful at it. Those who just get on with the boring work of getting it done every time and doing the same thing. It worked the first time, it worked the second time. You know what, it works. So cookie cutter is, I guess, a strategy of mine of being able just to move forward and finally kick butt, just get on with it. A lot of people talk about what they want to achieve or what they're going to do and how they're going to do it. But a lot of people don't actually then move into action. So I have a friend who wanted to create a business and a company that was worth $10 million. So she thought, what am I going to have to do? What knowledge do I need? Where best to start but go and unlock the secrets from other people? So she went and started speaking to other people who already had a business worth $10 million. And she asked them, what have you done? What did you learn? What special corporate structures have you put in place? How did you get to where you're going to be? And you know what they said? We just decided to do it. So kick Butt is about just getting out there and doing it, making the commitment, understanding your goals and doing it. There's two great books, Outliers and Bounce. And they say that with purposeful practice of about 10,000 hours, you can master anything. Mozart, Tiger woods, the William Sisters, Bill Gates. Each of them were given a unique opportunity. Tiger woods got his first golf club at the age of one and watched his father practice in the garage. Bill Gates mother went and got a computer for the local school and then had computer experts come and teach the kids. And they went and spent hours and hours practicing. When we look at what we can achieve, it's about putting the time and effort in and doing what we need to do to get out there and kick butt and achieve the goals that we want. Being lucky. Yep, I'm lucky, but I know what's gone into doing it.
