Jan 22, 2018
Are you interested in getting into property investment
this year?
Either your first investment or to grow your portfolio – well
today’s show is for you.
Hopefully, you’ve been enjoying a bit of a vacation at the
beginning of this New Year. Pam and I are currently cruising around
South America, so this show is another episode in the summer series
where I share the recording of an interviewed with me by Alex and
Liz from the Finder Money Podcast
In this episode, they ask me about how I got started in property
investment and I give some of my best tips for those looking to get
into the property market.
During our chat I answer their questions and share the lessons I
have learned from my hands on experience after buying my first
investment property over 40 years ago.
In the Podcast We Touched On:
- How real estate investment is not a get rich quick scheme.
- Running into problems by buying quickly and not investing in
the right type of properties.
- Residential real estate is high growth relatively low yielding
investment.
- Buying for capital growth as opposed to cash flow.
- The most important difference between successful and average
property investors
- The three stages of your property investment journey: asset
accumulation, lowering your loan-to-value ratios, and then living
off of your property portfolio.
- How real estate investing is a game of finance with some
properties thrown in the middle.
- Finding properties that will have strong demand in the future –
what I call investment grade properties.
- How investment grade properties are stable with above average
market growth.
- Where an investor should be looking in Australia for their
first property
- How important location is in the success of a property
investment and how property type factors into this
- Capital growth drives your investment. You need to get your
first property purchase right.
- Why it's wrong to buy an investment property you would like to
live in
- How you know when you're ready to invest in property
- Michael's personal property investment strategy and how he
selects an area to invest in
- The difference between investment grade properties and
investment stock
- Investing where the job growth will be.
- Why I think Melbourne and Sydney are still good places to
consider invest.
- What really drives property prices
- How having the wrong habits and a poor wealth operating system
is why so many don’t get out of the rat race.
- Using debt to leverage your money and buy appreciating assets
that go up in value.
- Some of the mindset differences between the rich and poor
- Recognize that you are where you are today because of what you
have chosen to do and what not to do.
- Become financially fluent, learn about money, and hang around
with people who are financially fit.
Links and resources:
Quotes:
“It’s not the size of your portfolio that matters, it’s how big
the asset base is and how the properties work. ” Michael Yardney
“Find other people who have achieved what you want to achieve
and then do what they do.” Michael Yardney
“Cash flow will never get you out of the rat race, but an asset
base will.” Michael Yardney
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