A property investor has explained the importance of setting goals and objectives as a key way of succeeding throughout a property journey.
During a recent recording of The Smart Property Investment Show, investor Arjun Paliwal explained to listeners his long-term strategy and objectives in property.
“I’ve never really been into the glitz and the glam. I think for me personally, like many people, that sort of freedom of time, choice, that’s a big part,” he said.
“I think right now, purpose is really what it’s all about, because the ability to build my portfolio hopefully inspires others to do the same.”
The property investor, who currently holds 11 properties before his 30th birthday, highlighted the objectives might be different but the strategy can remain the same.
“Whether it be driving the Ferrari for them or whether it be family time, getting onto work that is more purposeful for them, that’s what it’s really about. Just heading to that goal of knowing that flexibility, freedom’s there, building generational wealth and giving back,” he noted.
Mr Paliwal, who set up his own business in property, said he had no intention of buying his 11th property in Bendigo, but the opportunity was too great after two of his clients failed to secure finance.
“I had no pre-approval, nothing. I had a relationship with the agent that obviously we’d worked with to secure that property for the customer, and I said, ‘If you can just give me a bit of time, I can work on what I can do with pre-approval’. See how it goes. I can’t guarantee anything. Like, two clients have missed out here. I don’t want to miss out on this property,” Mr Paliwal explained.
As part of this journey, Mr Paliwal noted the importance of diversification and risk management.
“It was my first venture personally into the regional Victoria, the City of Bendigo, and it helped me just continue diversifying, which has been a big goal of mine, what started my first purchase in Sydney, then went to three more in Brisbane, then went to four in Tassie, then a commercial in Victoria before heading overseas for one and then coming back to Victoria again,” he concluded.