3 things Pokemon Go could teach you about property investment
Even if you aren’t involved in the craze yourself, you will have seen the hordes of people walking around the towns and cities of Queensland, their noses in their phones, furiously swiping at the screen. With tens of millions of downloads worldwide already, Pokemon Go has already broken records in the world of mobile entertainment – but you might be surprised to learn it has some good lessons about property investment too.
Here are just three of them.
1) You have to search far and wide
Making the right investment decision comes as a result of ensuring that you have as much information to hand as possible.
Pokemon Go is a game about collecting – the rarer the Pokemon, the better! Some of the most uncommon beasties are found all over Brisbane, and you’ll find players stretching the limits of their petrol tank or go card in order to get at them.
In much the same way, you shouldn’t be limiting yourself in where you look for property. Your investment strategy might push you towards an apartment in Brisbane, or a detached home in the regions, but you won’t know what’s right for you unless you are keeping your mind open and your net spread wide.
Check out the heart of Brisbane, search in the rural hotspots, keep an eye out along the coast – making the right investment decision comes as a result of ensuring that you have as much information to hand as possible. That means exploring as far and wide as possible!
2) You have to have patience
Pokemon Go isn’t just a game, it’s a fitness app too! As you play, you’ll slowly discover Pokemon eggs that can be hatched by walking a certain distance. Some of the best creatures can be discovered in this way, and also has other rewards for those who are willing to put in the literal hard yards.
However, this process takes time and effort – you aren’t likely to get instantaneous results. After all, if it didn’t require some willpower and some patience, then it wouldn’t be as valuable an experience!
Property investment is in the same vein. Property accrues value over time, despite the peaks and troughs, but if you want to continue making gains you have to stay in the game! Selling property is a sign of giving up too soon, so even when the going gets tough, it pays to have patience among your virtues. Pokemon Go requires you to walk, while property needs you to stop yourself from walking away. They might be opposite vectors, but they have the same result: a valuable asset!
3) Your community is key
The role of community in individual success is just as important in property investment too.
One of the main draws of the Pokemon Go phenomenon is the sheer number of people who are playing. You’ll be hard pressed to head into any of the major cities of Australia without finding some popular spot for budding collectors. People share tips, tricks and advice on where the best places to hunt are, and one New Zealander even ended up getting offered a job as a Pokemon Go mentor.
The role of community in individual success is just as important in property investment too. No one is an island, and if you want to really bring your portfolio to the next level and make it work at peak efficiency, you have to have the right team on your side.
That’s where Think Money can help you. Whether it’s taking better control of your mortgage or discovering the latest property hotspot, we’re the property mentors that you can turn to. We might not be Pokemon masters, but if it’s wealth that you’re after, we can certainly help you catch it all!