For almost 20 years prior to becoming a buyer’s agent I had the privilege of working in various roles in the sports industry, helping pre-elite and elite athletes prepare for their pinnacle events.
It wasn’t until recently that it struck me how similar the present investment property and elite sporting environments are.
Never, well not in my property investment lifetime, has there been such a time of change and uncertainty in property investing, mainly but not solely due to the recent Government policies.
I can compare this scenario in our investor world with the uncertainty Olympic athletes, their coaches, and support teams must be feeling right now as they prepare for the Tokyo Olympic Games. The games are a year late, and will be delivered in the midst of a pandemic with many challenges and differences to what would be considered a “normal” competition environment.
While it may seem a bit rich to compare the two, the feeling of not knowing what the future holds or that the rules may get changed on you with no warning is real. For the athlete this may impact their confidence and/or decision making, and in the end their performance after years of preparation and sacrifice. For investors, what decisions we make now in these changing times may impact on the retirement we hoped or had planned to have, which is the reason the majority of investors entered the property game.
So, what does this mean? What can we learn from those athletes and their coaches to help us navigate these changing times?
Remember, athletes don’t just give up if things aren’t going their way or because their “eco-system” changes. They reflect, seek feedback from experts, make changes where required, refocus and adapt to their new norm.
Here are four lessons you can take from high-performance sport and apply to your investing.
We have noticed a spike in interest and demand for our buyer's agency service from new and experienced investors, requesting support to not
just purchase an investment property, but to build a team and then a portfolio through this time that fits their long-term goals.
The purpose of this article was not to see how many metaphors I can squeeze in, but to remind ourselves that change is a part of our lives. So, go forth and reflect, seek feedback from experts, make changes where required, refocus and adapt to the new norm.
This article was published in the July 2021 issue of the New Zealand Property Investor Magazine and is shared here with permission from the magazine.
The magazine is an excellent resource with digital and print options. We highly recommend it.
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