What property investors must understand before buying in Brisbane | 5 reasons you’ll always be in debt | Everything happens for a reason
Sep 10, 2018
Are you wondering what’s going to be the best performing property market over the next couple of years?
In today’s show, we’ll talk about where the best performing market will be, what to do and what not to do if you decide to invest there.
In my mindset message I’ll explain why everything happens for a reason.
And you’ll also learn why many Australians are going to remain in debt all of their lives.
What investors must understand before buying in Brisbane
- People are starting to return to Brisbane as employment expands
- Most of the jobs in Brisbane are within a 10-12 kilometer ring, and that’s where people want to settle
- Brisbane has fewer auctions and more multi-offer scenarios than the southern states
- Brisbane is prone to flooding and storm water runoff – you need to know what to look for
- Lifestyle is different in Brisbane, indoor/outdoor living is popular.
- Brisbane is not Queensland – you can’t just invest anywhere in Queensland
5 reasons you’ll always be in debt
- You only make the minimum credit card payment – when you do this, you end up mostly just paying interest, and you don’t make any progress on paying off the principle
- You spend too much on holidays – consider avoiding people and situations that tempt you to overspend
- You think debt is just a normal part of life – you shouldn’t need to rely on debt just to maintain your lifestyle
- You don’t have a contingency fund – emergencies and unexpected expenses will occur. If you have a rainy day fund, you won’t need to rely on credit cards when those situations arise
- You allow expenses to rise with your income – make sure that you aren’t adding to your debt by spending more than you need to just because you’re making more
Links and Resources:
Michael Yardney's Property Renovations and Development Workshop
Michael Yardney’s Mentorship Program
Brett Warren – Director Metropole Properties Brisbane
Some of our favourite quotes from the show:
“Remember that people come into your life for a reason, for a season, or for a lifetime.” – Michael Yardney
“When we’re going through particularly difficult times, it can very comforting to thing that there’s a purpose to this.” – Michael Yardney
“The thing about getting into debt is that anyone can do it. The hard bit, of course, is getting out of debt.” – Michael Yardney
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