Sep 28, 2020
When it comes to property investing are you a fox or a
Is property investment an art or science?
Maybe property investment isn’t what you should be spending your
time on; maybe you should stick to your day job instead
That’s what I discuss today with Stuart Wemyss.
And then, in my mindset moment, I’m going to share with you why
we’re not all created equal.
You’ll get lots of great information from today’s show that will
help you get more success in your investments.
Why you might want to stick to your day
- You must take responsibility for your money, however, that
doesn’t mean that you need to make all of the decisions
- Instead, you should have a team of experts who know how to make
those decisions wisely and defer to them
- Looking for property in your own backyard isn’t really
- Investing isn’t a hobby, it should be approached as a
- The hedgehog concept: This refers to a story about a hedgehog
and a fox. The fox knows how to do one thing, but the hedgehog only
knows one big thing.
- In other words, the hedgehog has the specialized knowledge that
it needs to survive.
- Does it make sense for you to spend 10 hours a week making
financial decisions that you don’t have specialized knowledge
- Or would your time be better spent advancing yourself in your
chosen profession that you do have specialized knowledge of, and
deferring the finance decisions to experts in that field?
- You may be very smart, but that isn’t necessarily a guarantee
that you’ll make smart investment decisions.
- Your talents in one area might not translate to other areas,
- What you need is a holistic team of experts who can advise you
in your investment endeavors
- You should choose people who have not only done well in the
short term but have kept their wealth over the long haul
Links and Resources:
Get the team at Metropole
to help build your personal Strategic Property Plan
Click here and have a chat with us
Stuart Wemyss – Prosolution Private
Stuart’s article referred to in the Podcast -
Why you should stick to your day job
Stuart’s Book – Rules of the Lending
Shownotes plus more here:
Maybe you should stick to your day job and not invest in
Some of our favourite quotes from the
“Your investments should be boring so that the rest of your life
can be exciting.” –Michael Yardney
“Not only have we built wealth, but we’ve kept it, and I think
that’s one of the important principles.” –Michael Yardney
“If you’re listening to this in Australia or one of the other
great countries that a lot of people listen to this podcast in,
you’ve already won the lottery in life.” – Michael Yardney
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