Q&A: Sammy's Worst Deal, Buying in Bali and Buying in the Dip in Adelaide

Sammy Gordon (0:05)

G'day, listeners, and welcome to another episode of the Scouting Australia Podcast. Powered by Australian Property Scout Buyers Agency. I'm your host, Sammy Gordon, and I'm back today, guys, with big Jimmy Ibrahim. He's got the mullet flowing out of that back. He's got the APS polo rep, and he's got a necklace from Zimbabwe or something. Jimmy, mate, welcome back to the show.

Jimmy Ibrahim (0:26)

Very descriptive intro, and I think it will be great to be here.

Sammy Gordon (0:31)

Perfectly.

Jimmy Ibrahim (0:32)

Great to be here from the Sahara Desert. And it's good to be here with you, Sammy boy. I love these Q&A's. They're fast.

Sammy Gordon (0:40)

They're punchy.

Jimmy Ibrahim (0:41)

They are punchy. And they're offensive. They can be offensive at times, but please keep your answers short. Do you have coffee, bro? You look like you need a bit of juice or something.

No, I'm feeling good, mate. I'm pumped. I'm pumped.

Sammy Gordon (0:54)

There's no sugar sweets before.

Jimmy Ibrahim (0:55)

Here at the Pivotal Studios, they do give away the free little lolly bags. Not the lolly bag that you've got. That's how the kids come back.

Yeah, they give you the little lolly pack, as you can say. And it's fair to say I ate a few too many. I was promised there was only 95 calories in one bag.

Sammy Gordon (1:14)

Okay. No, that was per chew.

Jimmy Ibrahim (1:16)

No, no, it's per bag. But when you have 15 bags, that's a lot of calories. So that's probably what's happening right now.

But anyway, let's get into it, Sammy boy. The listeners are wondering what is happening. And we're starting with Jeffro.

Sammy Gordon (1:28)

Jeffro? Big Jeffy.

Jimmy Ibrahim (1:30)

Sammy, what do you think most investors are getting wrong right now?

Sammy Gordon (1:36)

Oh, what are they getting wrong?

Jimmy Ibrahim (1:37)

Yes. What mistakes are they making?

Sammy Gordon (1:40)

That's a good one. I think probably chasing the wrong things in their portfolio. Actually, there's two things. Getting wrong, not buying.

Jimmy Ibrahim (1:47)

Or sitting on the sidelines.

Sammy Gordon (1:49)

Sitting on the sidelines.

Jimmy Ibrahim (1:49)

Because of the wrong time. Yes.

Sammy Gordon (1:51)

Letting fear creep in.

Jimmy Ibrahim (1:53)

Listening to the noise.

Sammy Gordon (1:54)

Listening to the noise and not pulling the trigger. Not sticking to the game plan.

Jimmy Ibrahim (1:57)

In action.

Sammy Gordon (1:58)

In action. Man, I think it's one of the things, mate, like it's it's a consistency of forward motion, like by doing the right things as well will always be. You could have a you could buy five unicorn deals in your lifetime or you could just buy 20 really good performers that do their job. You know, I mean, that person will always outperform the five how Marys, you know what I mean? And so, man, I think it's like, yeah, it's understanding, like understanding your strategy and continuing moving forward. If you need to adapt your strategy a little bit, because of any changes, then adapt strategy, man, keep moving forward.

Jimmy Ibrahim (2:26)

You did actually say the most money you've ever lost was being out of the market. Yes, always.

Sammy Gordon (2:31)

Yeah.

Jimmy Ibrahim (2:31)

So that goes into that first point for sure. All right. Follow up question from Jimmy.

Sammy Gordon (2:35)

I wouldn't say that's the only one. I think like if you throw a couple of things, sorry, just to throw in too, is like chasing things that like new policy have brought around. So like, oh, there's no negative gearing. So I'm only going to chase the highest yields that I can, or I'm going to fall. What's the highest yields property in Australia right now?

Or going, oh, well, I can only get my depreciation benefits and my negative gearing on brand new properties. So I'm going to go buy in the same estate as 5,000 other people and buy exactly the same cookie cutter house as everyone else. And they go and buy for things like that. And I think like, you know, realistically, the game hasn't changed that much. I think if anything for us as investors, the way that we buy and the way that we build portfolios, I think it's only going to be a positive, especially if the rental boom, as we are anticipating and we're sort of already feeling, continues to come through, as that continues to come through, that is only going to be a beneficiary for us in our strategy. So I would say, stay the course, be intelligent with it, stay the course, and then man, just like, yeah, buffer appropriately, keep moving forward. So I think they're the really important things, man. Yeah, just making sure you're getting those things right, not doing that. I think the people who are making the mistakes right now, a changing strategy. You know what I mean?