How podcasts and professionals became a turning point for this ‘naive property investor’

He shared: “I say ‘luckily’ because I had no idea ... what I was doing when bought it. I was saving for a deposit and someone told me there was a development nearby selling off the plan, so I went and had a look … then I just picked one, which I could barely afford at the time.”

“It was a bit more because it had a yard and I wanted a dog so that was good enough for me. It wasn’t til my broker got back to me with the valuation that I realised I had actually not bought a lemon. Incredible,” Chris added.

The apartment has since doubled in value over the last four years—it even got him a dog. However, the property investor did not let luck become the foundation of his property investment journey.

After realising the value of a good and reliable financial team, he immediately sought advice from property experts through different resources such as programs, podcasts, reading materials, and the like. He also began asking professional help from agents and brokers for better decision-making. 

One of the first shows he listened to was The Smart Property Investment Show, which he describes as “a turning point” for him as a property investor. Aside from getting free advice from property professionals, Chris also appreciates the different stories shared by investors like himself.

He said: “I come from a creative background in my work and I just found this show very easy to listen to and very easy to pick up the points [about] the things I needed to do.”

“It's nice to hear people who are starting [their] journey as well … I'm coming from somewhere that's completely removed from investing and banking … so it's nice to hear it from novices that have done those steps and [find out] how they've done it,” the property investor added.

Jumping the biggest hurdle

Like many property investors, Chris considers his first purchase as the biggest hurdle he had to jump in his property investment journey. The process eventually became easier for him as he went on his journey, but there’s one thing he wished he did as a first-time buyer.

“[I wish I was able to] think like an investor because it would've really changed the way I would've bought and set myself up,” according to him.

After buying his first investment property, he made it a point to continuously educate himself in order to avoid regrets in the future. In the beginning of the year, he started making it a habit to come home on a Monday night and enjoy a beer while listening to property podcasts.

This passion for education lead to a “research mindset”—where Chris just gets in the zone and starts working out what he needed to know and who he needed to have in his side to be able to buy his next real estate asset and make the most out of it.

The property investor shared: “I already had a mortgage broker and they'd helped me with my first property. When I told them I was going to buy another property, they sent me off to a seminar, and ... they promised I could get 12 per cent yield.”

‘Get a good bullshit filter’

Despite being worlds apart, Chris believes that his experience in advertising has definitely come in handy as he strives to be successful in the field of property investment. According to him, his professional experience has given him a “good bullshit filter”.

There will be people out there who always think of taking advantage of people who have money to invest by promising too much and delivering too little. Knowing this harsh reality has made Chris discerning about the help he gets and more eager to educate himself to be able to do the groundwork by himself and avoid being totally dependent on other people.

Smart Property Investment’s Phil Tarrant agrees that property investors must work hard to remain proactive in the management and development of their portfolios. While having a reliable financial team definitely helps in saving time and effort, knowing the drill is vital in keeping your investments safe and continuously growing.

Phil said: “I want someone to do [things] for me but I've invested in my education so I know … the drill and I'm able to challenge my buyer's agent.”

“[You] can’t outsource responsibility for education and decision-making,” he concluded.

Tune in to Chris McMullen’s episode on The Smart Property Investment Show to know more about the invaluable education processes and why, sometimes, it’s okay to be a “pain in the ass” towards your buyer’s agent.