Simon Loo has had his fair share of mistakes throughout his property investment journey before he built an impressive 11-property strong portfolio by his early thirties. One such mistake was when he was once lured in by a grant, bought a property that was negatively geared and ended up paying too much.
Aside from reading articles and other resource materials, as well as building connections with experts, Simon told Smart Property Investment that the right attitude also helped him get back on track in his investment journey.
“I ask myself that all the time: Why the hell am I doing this? It really comes back to your drive and your attitude to reach a certain goal. I thought to myself, ‘Okay. I need to make this work. I made a mistake. Let’s look at a different strategy and let’s keep moving forward.’”
The need for financial freedom and stability inspired the young investor to always find a way to make things work, no matter how awry they go along the way.
According to him, this positive mindset and attitude helped him avoid regrets, appreciate lessons learnt, get more opportunities and ultimately be on top of his property investment game.
“I think that mindset and attitude [are] really important because now, Sydney’s moved heaps and it’s not a regret at all. Time healed everything, but at the time, if I lulled in my negativity, I probably wouldn’t have bought anything else and would have just stayed there, I guess,” he said.
The young investor added: “I think I’ve always had the philosophy that taking action is so much more important than sitting around and being over-analytical about all the stuff that you hear.”
His advice to budding investors: Educate yourself, listen to the right people and focus on your own journey.
Simon said that each property going into your portfolio is always going to be a different lesson to learn, and at the end of the day, it’s as much an education journey as it is an investment journey.
“In any time or place, there’s always an opportunity out there and it’s really important that you consistently educate yourself to find where the next best opportunities are. Just look at your own personal situation, have your own goals and stick to them, and basically find out what you need to do today to make those goals happen. Sometimes you might just have to think outside the square, step outside your comfort zone to make that happen. Property investment on a grand scale is definitely something that requires that kind of attitude and positivity,” he concluded.
Tune in to Simon Loo’s episode in The Smart Property Investment Show to know more about his exceptional property investment journey and how he plans to overcome the “property jail”, one of his journey’s biggest hurdles yet.
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