Eggs, flour and the property bandwagon

Eggs or chooky bum nuts as known in QLD, are an essential part of most people’s pantry. Used for baking, or directly eaten, their participation in our lives may be regular.

Not everyone likes them or able to eat them. Just because you grew up with eggs, you love eating eggs, and use eggs in many cooking dishes, doesn’t mean eggs are for the next person.

Just like property.

Sometimes it is hard to understand peoples’ thoughts about property, if they don’t line up with your own. Back in 2004 when I first started sourcing property, the market was moving to smaller and smaller land sizes.

It was hard for me to put aside my own preferences of larger house with larger block, to even consider anyone wanted to live on a 400m2 block with a boundary-built house.
Almost 20 years later, ‘traditional’ blocks are 450m2. Some blocks are down to under 200m2.

Crazy stuff.

I was told when I was around 20 years old, that you can not make any money in real estate, so don’t even think about entering it as a career.

That got me thinking.
Plenty of people have made money in real estate and plenty of people have lost money.

Wouldn’t it be the case that people who made money, think you can, and people who lost money, think you can’t?
(Reminded me of that old saying, If you think you can, or you think you can’t, you are correct.)

Of course, this brings us back to Eggs.

Maybe you eat eggs, maybe you don’t, either way your view on eggs is yours, and will most likely not change.
Would I bother trying to change you view on eggs, NO. What a waste of time and energy.

If you are at a restaurant ordering a meal with a mate, and you say, try the eggs. If they don’t want to, like to or can’t eat them, do you make a scene and a show?

Oh, come on man, eat the eggs!
Have an egg!
Eggs are great, I eat them!
Everyone eats eggs you loser!

No you wouldn’t.
Why then, do we do this with property?

To me, it feels like property has its own ‘bandwagon’ driven by people in the industry, and everyone who has got caught up in the excitement of buying property.
Yes, I am in the property industry, but I have never taken the view that property should be forced upon someone.

I have a saying, “There is no such thing as Property vs Shares, they are two completely different beasts”.
Everyone who finds us, is already looking in their chosen direction, property, where I sit waiting.

So Eggs..
Do you compare eggs to flour?
Both are used in many dishes, most people eat both; many don’t, won’t or can’t.
This must mean eggs and flour are comparable right?
(If you answered Yes to that question, then please don’t ever invite me for dinner.)
The choices we have for our finances are vast, like the choices we have for our food.
To be able to make those choices, either about food or finances, without unnecessary pressure from outside influences, would result in better outcomes.
If you own a property, sure talk to you mates about it, but don’t coerce them into buying one because you are convinced it is the best thing EVER.
I would like to see the same in my industry.
Less marketed fear, more education, and facts.
Being manipulated via fear, greed, lack, loss or any other negative emotion is just as bad (or worse) as being manipulated by over hyped positive emotions. (see last scribbles where I talk about guarantees)
It is extremely hard (not impossible) to be unbiased, but at the very least, lets be un-emotional about our property choices.
If your mate doesn’t, won’t or can’t eat eggs, leave them alone and let them enjoy their chosen way of eating.
If we all did that with property, there would be less emotion, hype and poor decisions being made.

Since 2004, Scotty North has been helping people buy the best properties for their needs at prices that simply speak for themselves.
Scotty has been instrumental in bridging the gap between financial planning and traditional real estate transactions through his property advice model.

Scotty North is a Qualified Property Investment Advisor (QPIA), with accreditation’s in financial planning, mortgage broking and real estate.

By carefully considering his clients’ goals and planning for market changes via demographics and trends, Scotty designs a future proof outcome not only specific to the client’s needs but dynamic in its execution with performance indicators and exit strategies built in.