Investor In Focus: Eugene Gamble
Attracted to property by its proof of concept, Eugene Gamble’s desire to create wealth saw him move from more local markets to international investments as soon as the opportunity arose. Making real estate education a priority, Eugene learnt as much as he could about the industry, absorbing tried and tested techniques until he had the confidence to create his own. Responding to changing markets he’s shaped his strategies to suit, moving from multi-occupancy dwellings to his current preference for flipping - with most properties now based in the United States. Irish-born Eugene was based in London studying for a postgraduate degree in periodontics when he first got the property bug, having attended an investment seminar.
“I liked what I saw and I took the next steps,” he says.
Attracted to real estate by its proof of concept, Eugene could see that there were many other successful investors and entrepreneurs who’d already created wealth via the same path. As an asset class, property had endless demand and was something that everyone needed.
“You potentially have the whole world as a client,” he says.
Aware that there would be dips in the market at times, Eugene could also see that overall the market headed in one direction. With a variety of techniques and strategies that could be implemented, it was just a matter of getting started - once he overcame analysis paralysis. A challenge to all new investors, Eugene says he found himself facing uncertainty about which way to go with his first purchase.
“The stakes are relatively high to begin with,” he says.
Eugene settled on multi-occupancy dwellings to start off with, buying a couple of properties in England’s Midlands. As his network increased, so too did the opportunities - to the extent that he’s now based in the Caribbean and focussing most of his investments in the US.
“It’s the biggest economy in the world,” he says.
By learning the intricacies of the country’s markets, Eugene has been able to move further afield than the more obvious larger cities and into areas that are somewhat off the radar. He seeks areas set for growth then purchases just before the boom hits, flipping properties to capitalise on the upswing with a larger percentage return on investment. Now with a portfolio that’s always in flux due to his overall investment strategy, of these, he has five properties currently on the go to flip, with two set to close later in the month.
Although financial freedom was the original goal when Eugene started investing, he’s now concentrating on financial abundance and generational wealth. Able to live without economic pressures forcing him to stay in full-time employment he has the best of both worlds - working a couple of days a week in dentistry and dedicating the rest of his time to property.
The days of analysis paralysis long gone, he finds it far easier to concentrate on the numbers and what he should expect to gain from an investment.
“If you’re trying to think too hard about a deal, you shouldn’t be doing that type of a deal,” he says. “Don’t lose money is the number one thing.”
Pragmatic, Eugene says it’s common for investors to make mistakes and that the market can turn on a dime, but if you haven’t over-leveraged it’s possible to get through these times and wait for more financially rewarding times to sell. He also encourages investors to look further afield for their own opportunities, citing his experiences managing properties in Australia, the US and the UK.
“If you get the fundamentals right, you’ll be successful wherever you are,” he says.