Stuart Zadel tells a story about how specialised knowledge can help you uncover opportunities for creating wealth.
Just recently, I was talking to a good friend of mine, Shaun, about a deal.
Now I know what you’re thinking – but no, it wasn’t a property deal.
Shaun is a qualified mechanic by trade (no longer in the industry) and an avid car enthusiast to say the least. Since changing careers, Shaun’s still known to work on antique and ‘muscle’ cars as a hobby on the side.
The experience and knowledge gained over this time (much of it through self education) means he knows the right people and the right deal when he sees it.
SHAUN AND THE DEAL
When we chatted, he told me about a particular deal that had potential to generate a tidy profit. It was a gorgeous Monaro that was selling at a discounted price.
Shaun’s friend had seen it online and came to him for advice. Shaun didn’t have the time to take the deal on board. Still, he told his friend what needed to be done. Shaun also offered him support in the deal and even said he would go 50/50 with him.
So Shaun and the friend made some good money, right?
No. Unfortunately, his friend (like many of us when opportunity presents itself) deliberated, procrastinated and essentially went into a state of inertia.
So, despite originally saying he wouldn’t do it, Shaun couldn’t let the deal go to waste. So he grabbed the opportunity.
Shaun’s knowledge of cars, the current market and ability to add value meant that he bought it well under market rates, got it back on the road and made a tidy profit in a matter of weeks.
So, what has this got to do with property you may ask?
Success occurs when preparedness meets opportunity.
Shaun was prepared, was liquid (had the cash), and was ready to act.
I’ve always said your ability to buy under market value, combined with knowledge of how to add value quickly and self-education, are the most important factors to generate profit in any business – and now so more than ever in property.
BE EXPOSED TO SPECIALISED KNOWLEDGE
You can’t find this specialised knowledge in regular property magazines. You probably won’t find it anywhere on the internet. And it’s likely your local real estate agent won’t have much of an idea about it either.
This type of knowledge is held by a select few people who have the exact type of on-the-ground experience to formulate such a deal – a lot like Shaun and his cars.
So imagine surrounding yourself with people who are on the look-out for deals like this every week. People like Naomi Findlay with specialised knowledge on property renovation. Bob Andersen with specialised knowledge on property development. Mark Rolton and his specialised knowledge on property options. Matt and Liz Raad with their specialised knowledge on website renovation and flipping. And Sam Cawthorn with his specialised knowledge on public speaking.
This may be the only opportunity you have to be exposed to this calibre of specialised knowledge.