The need for discipline and focus is required to achieve more. In Mike’s book, How to Jump into Property Investing Without Being Eaten By Sharks we share the story of golfing legend Peter Senior who has won over twenty titles in his time on the golfing tours of Europe, Asia and Australia.

Peter has had incredible success not only on the golf course but also in the world of property investing and kindly divulged some of his secrets with us.

“When I had enough money to start investing, if I didn’t know anything, I would outsource. There are always guys in this game that you play with, that are either real estate guys or bankers, or this or that. I used to pick their brains and say, ‘What’s the best way to go about this?’

‘Spend more time smiling than frowning and more time praising than criticising.’

Just like the rest of us who are scared before the first leap into unknown investment territory, Peter too had his nerves – but take heart; he sees this as a good thing!

“You ought to be shit-scared the first time you buy an investment property,” he declares. “You’re thinking, ‘Shit, can I afford it?’It is a really scary step. That is why a lot of people don’t do it, right?”

Peter also made the smart move of building his own knowledge-base on the subject, so that he had an understanding of what was going on and what he was about to get himself into. This gave him confidence he was doing everything properly, right from the outset, which is a huge bonus in the investment game.

“My first property was on Brisbane Street in Ipswich. My brother had just invested in Cash Converters. It had been going a few years in Western Australia,” Peter tells us. “Things had been going pretty well and they wanted somebody to bring it to the eastern states… Jeff asked me whether I would be interested. I went over to Perth and had a look at it.”

After seeing first hand that this ‘upmarket pawnbroker’ looked like a rock-solid investment opportunity, with people flowing in and out of the business, he knew this was a chance too good to refuse.

“I bought the sub-master deal for Queensland,” Peter says. “We had to put in two stores. One was going to be in Ipswich, the other was going to be in Capalaba.”

“I brought one of my mates over from Western Australia, stuck him in the one in Capalaba, as a partner with me. The one in Ipswich, I went in with my brother. He was going to run it because I was still playing golf. We had to have a property, a big building. It was 850 square meters in the main street of Ipswich.”

“It was only $300,000 in those days. ‘$300,000,’ I’m thinking, ‘I paid 150 grand for the sub-master.’ I put $100,000 down on the store and borrowed the rest. I was getting into an area where I thought, hang on a minute, I’m spending hundreds of thousands of dollars here. You know I was a bit nervous about it, if things went wrong.”

“The stores took off. I paid for the shop in two years,” he recounts with pride. “The business was that good.”

Only a few years later and Peter had amassed a portfolio of 30 stores in Queensland, 15 of which he controlled himself.

“That actually gave me more money to invest in other things. I did a heap of other things. I put money away for June and I for later. There was a whole range of things that I could do now. I ended up selling a bunch of the stores. I’ve got six left. I own pretty much all of the buildings except for the ones up north,” he says. “I bought four different commercial properties last year.”

Peter wanted to reassure our readers that while nothing is quite as scary as making that first leap, “Your second one’s a hell of a lot easier,” he declares, “because you know what you’re into. You know what you got to do.” Do something, commit to the process and follow it through.

Couldn’t have said it better ourselves. Thanks Peter Senior – Legend indeed! Look out for the rest of Peter’s story in a future blog about how he got started in his golf career and what he worked out he needed to do to make it all happen.

If you would like to have a chat about how to get the best out of your investment property we’d be more than happy to help. Simply contact us at team@onyoursideinvestments.com.au or read our other blogs to learn our top tips on the subject:

How Do Parent Guarantor Loans Work And Is There A Better Option?

WITH THE SYDNEY MARKET COOLING OVER THE LAST FEW MONTHS, IT SEEMS THAT ENTRY LEVEL PRICES ARE NOW AT LEVELS WHERE FIRST HOME BUYERS ARE ONCE AGAIN INTERESTED IN ENTERING THE MARKET. LATEST DATA FROM THE ABS HAS REVEALED THAT FIRST HOME BUYERS NOW MAKE UP 18.3% OF THE...

Banks To Open Up In 2019?

I truly hope you all had a great break and have re-charged your batteries with a focus on the important things in life to you. I am not a big fan or new year’s resolutions around finances, as they are a WISH based on a certain date more than anything else....

Don’t Get Bitten By The Sharks!

I share some savaging stories in my book, How to Jump into Property Without Being Eaten By Sharks about spruikers and marketeers. One particular story about a company headed up by a nice enough gentleman who seems very charitable, shows pictures of him in fancy houses...

With Discipline And Focus You Will Achieve More Success

Define Your Success It’s no secret that without discipline and focus you are unlikely to achieve much, let alone an outstanding life. You only have to look to the ultra-successful people in our world to see how driven and determined they have been in the pursuit of...

Is Property Investing For You

There are many kinds of assets which you can invest your hard-earned money into. We are big fans of property because it’s a proven strategy and we find most also enjoy investing into bricks and mortar because they’ve seen what their Mum and Dads property has done over...

Discover How Golfing Legend Peter Senior Made Money With Property

The need for discipline and focus is required to achieve more. In Mike’s book, How to Jump into Property Investing Without Being Eaten By Sharks we share the story of golfing legend Peter Senior who has won over twenty titles in his time on the golfing tours of...

Get Real Financial Success By Using The Right Team

Getting the right people on your team is very important if you’re wanting to achieve successful results. Some you will most certainly need on your journey are:Accountants  Accountants are highly qualified. Most of them are fantastic although very few are experts in...

Investment Property Spruikers Are The Real Sharks Of The Industry

Let us first say, there are some fantastic people in the property investment industry. We should know; we have met with them, worked with them, cried and laughed with them and still share stories and problems with some we really like and respect. Then there are the...

What You Need To Know About Development

Firstly, let us say we are not experts in development. For Mike’s book, How to Invest in Property Without Being Eaten By Sharks he says “I roped in a developer I trust for some thoughts”. Amazingly, according to an internal contact of ours, something like...

What Do You Need To Know About Property Management?

Getting the property management right on your investment property is one of the most important things you’ll want to do with your investment property. What do you need to know to ensure it all goes smoothly?   How much involvement should you have with the property...