#14 – Why You Have To Follow Your Heart – Not The Money With Luke Bailey

by Ben Handler

September 3, 2020

1. No One's Crazy

It’s a false perception that the measure of somebody’s success is only dependent upon how well educated they are. People choose different career paths, some of which do not require formal education. Mr. Luke Bailey, who is a prominent property investor and Buye’r Agent in South Australia is one such person.

Originally from a town near Adelaide. Mr. Luke was never a studious student.  Forced to do a trade that didn’t require study, he decided to become an electrician right after his 17th birthday. He worked in this profession for about 12 years after quitting it and following his passion that was property investment. Now, he has a significant property investing history.

His passion for property allowed him to transform his career to become a Buyer’s Agent in Adelaide. Now he runs his own Buyer’s Agent company called Fourtier. Luke has generated north of 6 figures by buying investment properties and also doing development projects. This is a great achievement from somebody transitioning from another carrier.

His mentor was his father who advised him to save up and invest in property or shares. His first purchase was near his hometown of Adelaide. It wasn’t a good investment but he still owns that property. Its price has gone up over 7-8 years. The good thing was he started investing in property.

The Strategy

The strategy Luke used to build his portfolio was understanding that capital growth is great but manufacturing acuity through development and renovation projects is also important. This is something he learned through experience.

His portfolio ranges over Tasmania, Queensland, Adelaide, south coast, Brisbane, and Hobart. His focus has remained in South Australia.

Change

Transitioning into a new career

His career as an electrician was partially forced due to average performance at school. Back then he was focused on job security and earning a decent amount of money.

Being an electrician paid well but in his opinion, it’s a money trap. You have to live away from your family, 3-4 weeks at a time. In his late 20’s he realized that this is not for him.

He had a passion for the property business but never wanted to become a real estate agent. The idea of cold calls and knocking on doors didn’t really appeal to him. He was much more interested in buying property.

Not coming from a sales background wasn’t a problem for him. He believes that sales are leaned through a process. His unique selling point was using his experience as an investor to bring value to the buyer. A Buyer’s Agent in Adelaide has to be a problem solver. You have to solve the issue of time or stock for your client in order to be successful.

Buyers Agents in Adelaide

Luke now buys property for people all over Australia. 50% of his clientele is from South Australia and the rest are from Sydney, Melbourne, Brisbane, etc.

There are not a lot of buyer’s Agents in Adelaide. The lack of competition is a trap. It makes you complacent and you might not give your 100% effort.

Now, he is focusing on investment properties and development sites. Along with that, he does renovation projects which are usually 6-12 months long. There are not many auctions in Adelaide as compared to other parts of the country. It’s more like private sales.

He also offers project management for renovation projects which includes development approvals and subdivisions. Renovation projects came naturally to him as he is from a construction background.

A man looking at a whiteboard of options

Challenges of New Business

The construction life is difficult, long hours, staying away from home. The transformation for him running his own business has been huge.

Running a business is always challenging. The most challenging thing for him is client management. The transition from working with tools to now managing client has been challenging. Similarly, marketing and sales have been something he has had to learn and master.

Things do not always go to plan. Sometimes you are unable to close the deal. Luke’s priorities were understanding buyers’ needs and seeing if he will be helpful to him. He has done a lot of personal development courses for self-learning. He believes that life is a journey of education.

2020 Goals

Luke has learned that you can achieve more than what you think you might. We all have limitations in our minds which are there through our past experiences. But you can achieve 100 times more if you believe in yourself

He aims to be involved in more development projects around Adelaide. That is what he like the most. He also wants to educate more people in opting for a career as a buyer’s agent in Adelaide.

Listen to the full podcast below

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