In tennis, there are two kinds of games: professional and amateur games. According to Dr. Simon Ramo, author of the book, “Extraordinary Tennis for the Ordinary Player,” professional tennis players win points while amateur players lose points. Such is the case of property investors.
In a professional game, most points are from hitting a shot that the opponent cannot reach whereas in a weekend game, players lose points by making an error.
Investment analyst Charles Ellis says this concept can also be applied in investment business, which has switched from being a professional game to a loser’s game.
To succeed in business, Ellis believes you have to focus on making less errors rather than making winning investments and it is becoming increasingly important in today’s changing markets.
During a property boom, errors are covered up by the increasing values. However, property markets in Australia are fragmented and those which were strong a few years ago may not experience the same growth level in the future.
When the tide is out, you will see some investors doing well while some are just floundering.
The winning investors are more strategic and they better understand the importance of proper asset selection, financial buffers and correct timing. They do not look for shortcuts and instead, focus on avoiding errors by using trusted systems.
How do you avoid property investment errors?
Property investors can read about proven investing strategies and principles and seek guidance from experienced investors who can say they have been there and done that. You can use unbiased economic and market insights and arm yourself with insider information to see market trends which the average investor won’t see.
What can you do?
If you would like to know more about superannuation and retirement, you can click here to know more about Chan & Naylor services. You can leave your details here and we can schedule you for a free consultation. We’ll contact you to explain more.
Whether you are a beginner, seasoned investor or business owner, we can give you guidance to maximise the financial areas of your life. We can give you an integrated and tailored solution of your superannuation, taxation, property investment, asset protection, estate planning and more.
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