'Be greedy when others are fearful' - buying property when the market is second guessing
As the pandemic reminded everyone, counterintuitive property investing can reap dividends, and with many believing the market has peaked and can only head south is it time to reflect on that?
March marks five years since the World Health Organisation declared the Covid-19 global pandemic.
For myself and my wife, Hannah, 14 March 2025 overshadowed the 11 March Covid anniversary - we had just secured our ninth investment property, our sixth since the pandemic kicked off.
Looking back, the smartest thing I did during those crazy times was listen to my number one mentor, John Fitzgerald.
Uncle John’s no stranger to tough times. He survived the 90s recession - “The recession we had to have”; the dotcom bubble popping; and the global financial crisis.
His advice was unequivocal, and came from the legendary investor Warren Buffett - “Be greedy when others are fearful.” In other words, buy property while everyone else is freaking out.
Mentors are like cheat codes. We don’t know what we don’t know. John’s wisdom - gleaned from decades of experience - was exactly what I needed to jump into the property market in the thick of the pandemic. Without it, I probably would’ve been too busy hoarding toilet paper to think about buying property.
CoreLogic just dropped some jaw-dropping data: house prices are up by 41 per cent since March 2020 - an average increase of $290,000. And in cities like Brisbane, Adelaide and Perth, the increase is even crazier - up to 80 per cent, or an extra $350,000 to $400,000 on the average house.
Mentors point way to property success
I recently received a letter from a client who owns 17 properties.
While this savvy investor had goals, habits and the right environment, her most important secret sauce was mentors.
Having mentors is step one in the pursuit of any goal; so, my advice is to seek out someone who has successfully achieved whatever you’re wanting.
The greatest investment you can make is to learn from someone who has done what you’ve got in your sights.
I’m fortunate enough that I get to spend almost every day working alongside Uncle John. That’s great, but there are other mentors I don’t get as much time with but seek to do so when I can.
So, let me ask you this, who do you admire? Who’s crushing it in the field you wish to conquer?
Reach out to them today. Buy them lunch. Let them pick the place and time, and let them order whatever they want (yes, including dessert - trust me, that’s where the gold is).
It’ll cost you some time and money, but the return is far greater - priceless wisdom and insight that could pay off a hundred times over.
