Dec 11, 2017
How soon can you give up your
day job if you invest in property?
The answer may not be what you
really want to hear.
In today’s show I discuss this
as well as explaining the three P’s of property
price growth. Plus I
highlight some interesting findings (at least I think they are)
from the Census.
And in my mindset moment, I am
going to talk about the importance of a growth mindset.
The 3P’s of Property Price Growth People, Price and
- People: Demographics and how many people there are
and how they want to live. In fact household formation is the
- Price : Affordability of property which is related to
wages, interest rates and property prices
- Place: - supply and demand
five years the census helps us understand the changing
- As a
property investor, you need to understand what properties will be
in strong demand in the future – and the Census gives us
latest census revealed that we add about 1,037 people to Australia
- Australia has a sparse population density, and
people congregate in the capital cities.
median age is 38. We are slowly getting older.
are a diverse nation - Australians were born in over 200
- Almost half of the population were either born
in another country or had a parent born in another
of our immigrants come from China and India.
census gives details to where people’s wages have
pinpoint our research to find areas that will have
Mindset Message: Why a growth mindset
- A fixed mindset
believes you can’t change your
- A growth mindset
means you can move towards
all starts with your inner self. With your thoughts and feelings
leading to your actions and results.
what areas of your life do you need to move from a fixed mindset to
a growth mindset and what are you going to do about it?
How soon can I give up my day job as a property
not easy to do this. Real estate investment is a slow game that
takes 10 to 15 years of growth.
first have to build your asset base – and can do this by investing
smartly in high growth properties.
slowly lower your loan-to-value ratios. But in the meantime you
need to have a real job.
use your asset base as a cash machine
- Residential real estate in Australia is a high
growth, low yield investment.
doesn't matter how many properties you own. The question is how big
is your asset base and how hard is your money going to work for
retire you’ll need a 3 -4 million dollars in assets and your
flow will keep you in the game, but it won’t get you out of the rat
flipping doesn’t work in Australia because of stamp duty and tax
can take 30 years to build a substantial property portfolio,
because most investors get it wrong in the first 10 years. Then it
takes two or three property cycles to build their asset
Links and resources:
Our favourite quotes from the show:
“Believing change is possible is
one of the biggest tenets of personal development.” Michael Yardney
“A growth mindset makes change
possible, but you still have to take action to achieve your goals
and success.” Michael Yardney
“Your thoughts lead to your
feelings. Your feelings lead to your actions. Your actions lead to
your results.” Michael Yardney
Never miss an episode and keep
up with all the good things going on at the Michael Yardney podcast
by subscribing on
You can also subscribe to
to keep up with the latest
information including bonus material that comes out between the