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Mastering The Art of Property Investment With Property Club

Announcement posted by The Audacious Agency 24 Aug 2016

The journey to being named Property Club’s 5000th property millionaire has seen Geoff and Janine Masters learn many valuable lessons about investing. As their portfolio has grown, so have they.

After decades of investing experience under their belt, they have learnt a thing or two about working with the right people, learning from mistakes, the power of planning ahead, patience as a virtue and the importance of self-responsibility.

Geoff believes everything worthwhile takes time and there is no easy way to make a dollar. “Investing in property is not a quick way to make money. It takes time.  You have to expect this in all facets of your life – got to put the time in, the hard yards and build on your experience, while working with the right guides,” he said.

“That is what property has always been to me and remains today; make sure you have the where-withal to ride out the rough times if they come; you need to be involved in the investment phase for several years.

“It is about patience and preparing yourself.”

Geoff also believes personal responsibility is paramount.  While he has made some mistakes in his investment journey, the only person responsible is him. “Responsibility is everything in your life. The minute you start blaming others, you are on a slippery slope. You have to take responsibility for your own decisions.

“We all make incorrect decisions from time to time; there is nothing wrong with that. You have to take that knowledge, learn from it, take responsibility and move on with it behind you.

“Those who abrogate that responsibility are doing themselves a disservice.”

The journey to property millionaire

Geoff started investing when he was in his 20s. His first property was a joint venture. Armed with only the enthusiasm of youth, he quickly learnt better ways of doing it. Before joining the club in 2000, Geoff was buying properties and land.

With these successes, Geoff was encouraged to continue pursuing property investment as a wealth creation strategy. Initially, luck played a part in his success.

“I was travelling a lot in the 70s as a professional tennis player, so I bought a residence in southern California because I was playing a lot of tennis overseas; it was too far to come home all the time to have break.

“The Gold Coast was a lot like Southern California, only 20 years behind. I could see the Gold Coast developing exponentially so I bought a block of land at Paradise Waters. The sale of that blocks five years later was very profitable experience for me.

“That was a bit of knowledge and a bit of good fortune.”

Being open to opportunities

As a kid growing up in Brisbane, Geoff’s family used to visit the Gold Coast regularly. Right now Geoff sees the Gold Coast as hot property.

“Through the 70s and 80s the growth was phenomenal. It is fair to say growth has stagnated on and off since then through various cycles of development and quiet times but right now it is showing serious signs of growth as we head towards the 2018 Commonwealth Games,” he said. “It’s exciting times.

“There has been a lot of growth through the Coomera area. The light rail project will be of majored benefit to the area which has suffered through lack of infrastructure.  It is worthy of consideration.”

Work with the experts

Like all savvy investors, Geoff believes in the power of working with this with runs on the board. “It is important to do not go with first group of experts you come across. I took my time to work out who I wanted to work with; it is worthwhile exploring option.  Ultimately, coming back to the Property Club was a good decision,” he said.

“I went to a couple of Property Club seminars. The first one I went to was at the Southport Bowls Club to hear Kevin Young speak. I was impressed.”

While Geoff does not profess to be an expert, his knowledge has been honed through the advice received as a member of Property Club. His portfolio has been built with this advice at its foundation.

“My portfolio has been built using this advice. I buy new properties, which are mainly townhouses or low rise apartments. I stay away from high rise departments,” he said.

With hindsight a wonderful thing, Geoff said he would have diversified locations enough. His bias about where he lives dictated many of his purchases.  “But now I am armed with this knowledge, as I continue to grow our portfolio, I will take this into account. You cannot let emotion rule your investment choices,” he said.

Advice for prospective young investors

“We were all young once and figured we were never going to get old. The reality is we are and as soon as you realise you need take ownership and responsibility for your own future. The way to do that is plan early and be patient,” Geoff said.

“There is a relatively misguided view by some young people we need everything tomorrow but in reality that does not happen. Anything worthwhile takes time. Investing in property is no different to investing in yourself with knowledge.

“Making sure you think long term. Plan for the future, set goals and if you do that is hard to go past a well located property – we are young country, we are still growing and we still have population growth. While that happens, no reasons to suggest investing in property in the right location is anything buy a good idea.

“But it is about long term.”

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