When it comes to building wealth through property, one message stands out – you can’t win if you don’t play the game. In a recent episode of the Australian Property Investment Podcast, accountant, author, and property investor Allan Mason shared his insights from over four decades in business, including lessons from working with some of Australia’s most successful investors.

From the emotional traps of buying and selling to the power of structure and long-term strategy, Allan’s advice is a reminder that property is less about luck and more about discipline, mindset, and smart decision-making.

Thinking Like an Investor, Not a Homeowner

Allan’s approach begins with a mindset shift. Too many people, he says, treat property as an emotional purchase rather than a business decision. New investors often enter the market with fear and hesitation, worrying about what could go wrong – interest rate rises, maintenance costs, or tenant issues.

That mindset can hold people back. For Allan, success starts with taking action, even when the outcome isn’t guaranteed. It’s about participating in the market rather than sitting on the sidelines waiting for perfect conditions.

He’s seen it time and again: investors who bought decades ago and simply held on are now sitting on life-changing wealth. In 1971, the average Sydney home cost less than $20,000. The lesson? Those who waited missed out, while those who took a calculated risk built the foundations for their financial freedom.

Why Selling Too Soon Is the Biggest Mistake

If there’s one mistake Allan sees repeated across generations, it’s selling too early. Many people buy a property, watch it rise a little, then sell at the first sign of profit – or panic at the first sign of trouble.

Over time, those quick decisions cost them the compounding growth that builds true wealth. Allan encourages investors to treat property as a business asset rather than a short-term trade. Emotions and second-guessing, he warns, are wealth killers.

The most common regrets he hears from seasoned investors are simple: I should have bought when I had the chance and I shouldn’t have sold when I did.

Patience and perspective are what separate long-term investors from speculators. It’s a lesson that remains as relevant in 2025 as it was fifty years ago.

Risk, Reward, and the 85/15 Rule

Buying property always involves risk, but Allan believes most of it lives beneath the surface. He compares it to an iceberg: only 15 per cent of the decision is visible logic – the numbers, the rates, the returns. The remaining 85 per cent is emotional.

Fear of the unknown drives hesitation. What if the market dips? What if the tenants damage the property? What if we can’t keep up with repayments?

Those fears are natural, but they can’t dictate your financial future. For Allan, it’s about balancing rational analysis with the courage to act. There will always be “snakes and ladders” in the property game – moments when you climb quickly and others when you slide backwards. The key is to accept that volatility is part of the journey, not a sign to give up.

Lessons From Kerry Packer’s Accountant

Before becoming a full-time author and property investor, Allan worked as an accountant for Kerry Packer, one of Australia’s most influential businessmen. That experience shaped much of his financial philosophy.

Packer once told him, “You need to be worth double what I pay you.” It was a lesson in value creation – thinking beyond compliance or cost-saving, and instead focusing on how to build, structure, and grow wealth strategically.

Allan took that mindset into his own career. He worked with clients who turned modest incomes into multimillion-dollar portfolios by taking calculated risks, setting up the right structures, and refusing to let fear dictate their financial choices.

He’s quick to note that the difference between wealthy investors and everyone else isn’t intelligence or luck. It’s a mindset… a willingness to ask better questions and think strategically about tax, structure, and opportunity.

Why Most Accountants Miss the Mark

Allan doesn’t hold back when it comes to his own profession. In his view, too many accountants focus on compliance instead of strategy. They’re cautious, reactive, and afraid of being wrong.

That attitude, he says, costs clients millions over time. Tax shouldn’t just be about minimisation, it should be about planning. A proactive accountant can help you structure your portfolio, offset capital gains, and reinvest profits intelligently.

Allan calls tax a “success fee”, proof that your investments are working. Rather than complaining about paying it, he advises people to plan ahead, use legitimate strategies, and view it as part of playing the game.

The Power of Structure and SMSFs

Beyond mindset, Allan stresses the importance of structure. He’s a strong advocate for using the right vehicles – companies, trusts, and particularly Self-Managed Super Funds (SMSFs) to build long-term wealth.

In the right circumstances, an SMSF can be a powerful way to invest in property. Capital gains are taxed at just 15 per cent in accumulation mode, and potentially at zero per cent once the fund enters pension phase.

However, it’s not a one-size-fits-all strategy. Cash flow, contribution caps, and preservation age all play a role in determining whether it’s the right fit. The key is to approach it with planning and professional advice rather than treating it as a quick tax solution.

Allan’s point is simple: don’t leave opportunities on the table. The wealthy rarely do.

Investing Across the Decades

Every investor’s risk profile changes with age. In your 20s, you may have a lower income but a higher tolerance for risk. In your 40s or 50s, that dynamic often flips – you earn more but fear losing what you’ve built.

Allan encourages investors to adapt their strategy at each stage, not abandon it. The property market rewards consistency and courage. Those who continue to take calculated risks, even later in life, often find themselves entering retirement with multiple income streams rather than a single home and a modest super balance.

He describes it as the “power of a decade”. One good decision, held for long enough, can change your family’s financial trajectory for generations.

The Purpose Behind the Portfolio

Despite owning a significant property portfolio and publishing ten books, Allan has no plans to retire. He enjoys the process – the clients, the challenges, the learning. For him, work is less about money and more about purpose.

That purpose extends to the people around him. He believes great businesses are built on heart-centred leadership, where integrity and impact matter as much as profit. When the right people come together, he says, the ripple effect of success spreads well beyond individual wealth.

It’s a sentiment that resonates deeply with the philosophy behind the Australian Property Investment Podcast, empowering Australians to think bigger, take action, and build sustainable financial futures.

Key Takeaways from Allan Mason’s Approach

  • Play the game. You can’t win by watching from the sidelines.
  • Hold for the long term. Resist the urge to sell too soon or act emotionally.
  • Be proactive, not reactive. Tax planning and structuring are part of the wealth-building process.
  • Use the right vehicles. SMSFs, trusts, and companies can protect and multiply wealth when used strategically.
  • Stay curious. Keep learning, asking questions, and refining your strategy as you grow.

If Allan’s insights have sparked ideas for your own property journey, start by reviewing your current strategy. Ask yourself:

  • Are you thinking like an investor or an emotional buyer?
  • Are you working with an accountant who plans ahead rather than reacts?
  • Do you have the right structure in place to protect and grow your assets?

For more conversations like this, listen to the full episode with Allan Mason on the Australian Property Investment Podcast, where we dive deeper into mindset, structure, and the long game of property investing in Australia.