Like most investors, Taku Ekanayake credits his success in property investment to hard work, good education and the best set of mentors.
Taku’s financial team goes beyond helping him through transactions. According to the 28-year-old investor, his team is just as active in understanding his goals.
“I call him a broker but he’s become more of a mentor. He’s taken me under his wing. He’s a property investor as well. He showed me the ropes of how he got to where he got to and the time that he got to there as well. So I started just replicating his process. There’s no need to reinvent the wheel. I just followed his blueprint and I’m sure he followed someone else’s blueprint as well,” he said of his mortgage broker.
The young investor has always taken a proactive approach in property investment and has utilised all resources in his arsenal to make the most out of his journey, including technology – something that he admittedly enjoys more than some.
In fact, the internet has helped him find the best people to take with him in his property investment journey.
He shared, “(I met my broker) through a forum. I read his story first, about him, and then I reached out to him on LinkedIn and I said, ‘Look, I just want to pick your brains.’ I didn’t even know he was a broker at the time. And he’s like, ‘Yeah, no worries, would love to catch up.’ Then met him the next day, had about an hour conversation with him. At the time, it turned out that he was transitioning out of his main job, his corporate role, into the broking world, and I was like, ‘Ah, come on. Let’s go.’”
Technology has also helped Taku in other aspects of investment, including property management, goal setting and several day-to-day operations.
“In terms of how I manage my portfolio, for the day-to-day stuff, I generally pass that off or outsource it to property managers or the people that are professionals within their space, which obviously takes the burden off me. In terms of things such as renos or anything like that comes up, I’ll try to project manage it myself throughout that process. But when it comes to the day-to-day activities, it’s all outsourced to property managers, solicitors, brokers, and just my close group of people,” he said.
Smart Property Investment’s Phil Tarrant agrees that hard work and good education, combined with good strategy and the best mentors, will really be the ones to act as an investor’s “special weapons” in the overwhelming landscape of property investment.
After all, the first and most important investment for an individual must be investment on himself.
Phil concluded, “It’s about research. It’s about educating yourself. You find there’s not too many who are closed books and people are happy to share their journey and their story and, hopefully, instill some of the same energy that they get in property investment.
Tune in to Taku Ekanayake’s episode in The Smart Property Investment Show to find out how he built a six-property strong portfolio in two years.