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The Michael Yardney Podcast | Property Investment, Success & Money
Are you looking for financial freedom or more choices in life? You're in the right place. Twice each week Michael Yardney shares smart property investment strategies as well as the success and personal finance secrets of the rich, in around 30 minutes. MIchael has been voted one of Australia's top 50 Influential Thought Leaders and while he is best known as a real estate investment expert, he is also Australia's leading expert in the psychology of success and wealth creation and a #1 best selling author of 9 books. Michael frequently challenges traditional finance advice with innovative ideas on property investing, personal finance and wealth creation. His wisdom stems from his personal experience and from mentoring over 2,000 business people, investors and entrepreneurs over the last decade. Michael's message will be priceless regardless of the size of your real estate investment portfolio - whether you're just starting out or an experienced investor wanting to move to the next level, he will provide you a roadmap for real estate investing and financial success. http://MichaelYardneyPodcast.com
- 664 - Property success principles that stand still when everything else moves
What will life be like in 10 years?
Strategic property investors think in 10-year time frames, they don’t worry about what’s going to happen to interest rates or the economy in the next six weeks or the next six months.
In my mind, 10 years is a short term and the successful investors I know ponder about what the housing markets will be like in 20 to 30 years.
We are living through times of rapid change, but most of us don’t like change. It makes us feel uncomfortable.
We like a level of certainty about our future, health, and jobs, as well as about the worlds of finance and property that most of us are interested in.
But there are history lessons that can provide us with valuable insights.
In today’s episode, I’d like to talk about some of the things that never change in a world that never stops changing.
Successful investors and businesspeople need to be prepared for change but also understand the things that don’t change.
Hopefully, by the end of today’s show, you’ll come out with some ideas about how to get some more certainty in these uncertain times.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Shownotes plus more here: Property success principles that stand still when everything else moves
Mon, 13 May 2024 - 29min - 663 - Is stopping immigration the secret to solving our housing nightmare? With Ken Raiss
Today's show tackles a hot-button issue in Australia: housing affordability.
With skyrocketing prices and rents, and a shortage of available homes, many are pointing the finger at immigration.
What if we stopped immigration? Would this be the panacea to our housing crisis?
Is stopping immigration really the answer?
Ken Raiss, Director of Metropole Wealth Advisory, joins me today to discuss this complex topic.
Links and Resources:
Ken Raiss, director of Metropole Wealth Advisory
Have a chat with Ken Raiss and the team at Metropole Wealth Advisory to secure your financial future – click here
Get Ken Raiss’ report: Your Guide to Understanding Ownership Structures & Trusts – just click here
Why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here
Get your bundle of E-books and resources as my gift for subscribing to this podcast www.PodcastBonus.com.au
Shownotes plus more here: Is stopping immigration the secret to solving our housing nightmare? With Ken Raiss
Wed, 08 May 2024 - 33min - 662 - Priceless investing lessons from influential billionaires, with Mark Creedon
Today, I’m joined by Mark Creedon, and together we explore some priceless investment lessons from some of the world's most successful billionaires.
These titans of industry have not only built immense wealth but have also mastered the art of sustaining it through savvy, strategic decisions. Mark and I are going to uncover how their golden rules of investment can be applied right here in the Australian property market.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Priceless investing lessons from influential billionaires, with Mark Creedon
Mon, 06 May 2024 - 42min - 661 - They're coming for you! Will the government change negative gearing and CGT, with Mike Mortlock
Today I’m going to discuss several topics of interest for property investors with Mike Mortlock, the Managing Director of MCG Quantity Surveyors.
Mike's team has recently released a report titled 'Rising Tide of Unit Rents Closes Gap with Houses in Major Capitals' that sheds light on some transformative trends and provides an understanding of the shifts in housing affordability and renter preferences.
We also talk about the growing concern that the government may look at changes to negative gearing and capital gains tax before the next election and discuss the other side of the equation, about the important role property investors, play in our housing markets.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Mike Mortlock – MCG Quantity Surveyors
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: They’re coming for you! Will the government change negative gearing and CGT, with Mike Mortlock
Wed, 01 May 2024 - 40min - 660 - Property Shocker: Adelaide and Perth prices closing in on Melbourne | Big Picture Podcast with Pete Wargent
With property values rising for 15 months in a row and talk of interest rate cuts on the horizon, is the Australian property market gearing up for a new boom in property prices this year?
Well, there are clues in the news as to what’s ahead, which I’m going to discuss in this month’s Big Picture podcast with leading financial commentator Pete Wargent.
As always, we will be discussing a raft of macro and micro economic factors that should give you some clues as to what’s ahead for our housing markets. And we’re going to discuss why now may be a great countercyclical opportunity to get into the Melbourne property market.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Pete Wargent’s new book: The Buy Right Approach to Property Investing: Mastering the skills to invest wisely in property
Shownotes plus more here: Property Shocker: Adelaide and Perth prices closing in on Melbourne | Big Picture Podcast with Pete Wargent
Mon, 29 Apr 2024 - 36min - 659 - To Sell or Not to Sell: Navigating the Dilemma of an Underperforming Apartment
You’d have to be living under a rock not to know that apartments have underperformed houses in the last decade or so, so today I explore the reasons behind this trend, its implications for investors, and what future trends we might anticipate with independent financial advisor, Stuart Wemyss.
We also discuss what criteria you should use to decide if you sell an underperforming apartment.
We explore the complex puzzles facing Melbourne's apartment sector and discuss strategic responses to the challenges as well as the reasons behind the market's underperformance and consider whether investors should maintain their positions or reallocate their capital.
This will be an important episode for anyone interested in understanding the broader dynamics of the property market and making informed investment decisions.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: To Sell or Not to Sell: Navigating the Dilemma of an Underperforming Apartment
Wed, 24 Apr 2024 - 38min - 658 - These are the biggest influencers of our property markets that all property investors must understand.
To help you understand what's ahead and if our property markets are going to keep rising or going to slow down or even go backward, as some property pessimists are still suggesting, in today's episode I want to outline the dynamics and the economics of Australia's property markets and what causes property values to increase and what makes them fall.
I want to do this to help ensure that your investments outperform the market averages over the long term.
Today this topic is so important it's just going to be you and me as I share with you what causes property markets to boom and bust.
From the current state of supply and demand to the potential disruptions from AI and robotics on the workforce, this episode offers a comprehensive guide for anyone interested in the complexities of real estate investment and the economic forces at play in Australia's property landscape.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Shownotes plus more here: These are the biggest influencers of our property markets that all property investors must understand.
Mon, 22 Apr 2024 - 35min - 657 - Believe it or not - more than one in four properties were purchased with cash in 2023. With Julie Toth
Today, we're diving into a topic that's making waves in the property market.
I’m joined by Julie Toth, Chief Economist at PEXA, to discuss the findings of their 2023 Cash Purchases Report, which sheds light on a startling trend: over a quarter of residential properties in Australia's eastern states were bought with cash in 2023.
These cash buyers were immune to interest-rate heights and in a market typically swayed by mortgage rates and lending criteria, so together with Julie, we'll explore the implications of this trend, the profile of these cash buyers, and what it all means for the future of the Australian property landscape.
From potential impacts on housing affordability to the ripple effects on the broader economy, we're set to uncover some truly eye-opening insights.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Details of Pexa’s 2023 Cash Purchases Report are here.
Shownotes plus more here: Believe it or not – more than one in four properties were purchased with cash in 2023 with Julie Toth
Wed, 17 Apr 2024 - 33min - 656 - Simon Kuestenmacher's Crystal Ball Demographic Forecasts and Real Estate
I’ve often said that demographic changes will be more important in shaping our property markets in the medium to long term than the ups and downs of interest rates or the vagaries of our economy, so I’m pleased to have leading demographer Simon Kuestenmacher back on the show.
Simon is a co-founder of The Demographics Group and a master in interpreting data and trends to forecast how societies evolve, and his insights are pivotal for anyone interested in property, lifestyle changes, and investment strategies.
Recently Simon wrote a series of articles in The New Daily outlining the changes he sees ahead for us in the next decade and what these shifts mean for our future.
We shift our focus today to Australia's economic future, considering our ties with China and how the evolving global Chinese middle class will interact with our exports amidst demographic challenges. We then dissect the educational landscape, discussing the potential impact of an over-saturated university graduate market.
As society changes, we also discuss shifts in media consumption habits and concerns over AI's influence on news quality. If you’re a property investor or a business owner, you’ll want to understand what these trends mean for you, and like all my regular chats with Simon, this conversation promises to be thought-provoking.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher – Director, The Demographics Group
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join Simon and me at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: Simon Kuestenmacher’s Crystal Ball Demographic Forecasts and Real Estate
Mon, 15 Apr 2024 - 28min - 655 - 5 ways to ensure your property investments outperform this cycle
In today's episode, I'm going to share two lessons with you.
The first is five ways I'm going to ensure that my property investments outperform this cycle. Hopefully, I’ll be able to give you some ideas for your investments as well.
Next, I'm going to share one thing you need to change to become a more successful property investor.
Regular listeners know I usually have guests on the show, but sometimes I just want to have a chat between you and me. That's what this show is about.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join us at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: 5 ways to ensure your property investments outperform this cycle
Wed, 10 Apr 2024 - 39min - 654 - Unravelling Australia's Rental Crisis with Dr. Andrew Wilson: Insights & Endgames
If you're interested in property, you'll know that our rental markets are in crisis.
Vacancy rates have dropped to all-time lows, rental stock remains extremely slim, and rental prices continue to skyrocket.
So how did we get into this rental crisis? How long will it last, what does it mean for you and me as a property investor, and are there some ways the government or regulators can alleviate this crisis?
In today's episode, I discussed this with Dr. Andrew Wilson, the Chief Economist of my Housing Market. Andrew is a bit controversial, but I think together we've come up with some ideas of how to solve or at least alleviate the crisis.
However, let me make one prediction: the government won't do any of those because they're not politically suitable or favorable. Anyway, let's talk about the rental crisis and what it may mean to you as a property investor, as well as what's ahead for our housing markets.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join Dr. Andrew Wilson and me at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Shownotes plus more here: Unravelling Australia’s Rental Crisis with Dr. Andrew Wilson: Insights & Endgames
Mon, 08 Apr 2024 - 48min - 653 - 3.7% Unemployment: Has Australia Kissed Rate Cuts Goodbye? Dr. Andrew Wilson Weighs In
Sometimes good news is bad news.
The good news about our unemployment figures and the number of new jobs created is, in some ways, bad news for those hoping for interest rates to drop.
So what does the latest data mean for interest rates?
How does the Reserve Bank even decide what to do with rates?
What are the factors involved in their decision-making process?
That's what Dr. Andrew Wilson, Chief Economist of My Housing Market, and I discussed today. We chat about what's ahead for interest rates and why he's concerned that the Reserve Bank may not drop interest rates anytime soon.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join Dr. Andrew Wilson and me at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Shownotes plus more here: 3.7% Unemployment: Has Australia Kissed Rate Cuts Goodbye? Dr. Andrew Wilson Weighs In
Wed, 03 Apr 2024 - 36min - 652 - 19 Brutal Truths about Property Investment That No One Else Will Tell You with Brett Warren
In today’s episode, I’m not holding back.
I’m going to tell you some brutal truths about property investing.
That includes some of the things that can go wrong. Some of the frustrations of being a property investor, and some of how slick marketing can lead you astray.
Stick with me, though, because It's not all negative. Brett Warren, National Director of Metropole, joins me to help you understand what could go wrong to ensure you know what to avoid so things don’t go wrong. That way, you can enjoy the success a small group of successful property investors enjoy.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Brett Warren - National Director Metropole
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join Brett and me at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: 19 Brutal Truths about Property Investment That No One Else Will Tell You with Brett Warren
Mon, 01 Apr 2024 - 44min - 651 - Wealth Building Strategies from Australia's Premier Wealth Retreat with Brett Warren and Pete Wargent
Why do some people seem to effortlessly grow their wealth while others work hard but continue to struggle?
I've got something a bit different an for you in today's episode. Together with Brett Warren, national director at Metropole and financial whiz Pete Wargent, we give you a sneak peek behind the curtain and help you understand the lessons we learned from Wealth Retreat last year.
While we're talking about wealth, it'll be interesting at the end of it when you work out what our emphasis was. It wasn't investment and, it wasn't property. Listen in as we share with you the biggest lessons we've learned.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Wealth Retreat 2024 – click here and learn more and register your interest.
Shownotes plus more here: Wealth Building Strategies from Australia’s Premier Wealth Retreat with Brett Warren and Pete Wargent
Wed, 27 Mar 2024 - 38min - 650 - Is Australia growing too fast? Population Booms and Their Price with Ross Elliott
Is Australia growing too fast? That’s the question we’re going to ask today.
Joining me today is Ross Elliott, a seasoned urban development commentator whose recent article has stirred the pot by highlighting the consequences of Australia's population surge, especially in hotspots like Southeast Queensland.
His insights shed light on the pressing issues that come with the significant growth Australia is experiencing.
Our conversation uncovers the historical layers of urban density policies and how these affect the development of sufficient infrastructure, such as schools and utilities. We also consider the social inequalities that may deepen because of this rapid growth and discuss the government's plan to construct 1.2 million new homes.
Since you're most likely interested in the future of the Australian housing market, this is an important topic for you to learn about.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Find Ross Elliott’s blog here
Join us at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Shownotes plus more here: Is Australia growing too fast? Population Booms and Their Price with Ross Elliott
Mon, 25 Mar 2024 - 42min - 649 - Our No-Nonsense Big Picture Podcast About the Economy and Property Markets, with Pete Wargent
I feel sorry for property investors trying to make headway in real estate. They face the hurdle of significant media misinformation, which is underwhelmingly and unnecessarily discouraging, and social media which is full of “pretend gurus” who are prepared to sell you their secrets to instant riches in property.
In my mind, they’re selling you tickets to see unicorns.
Despite the information available in the media and on the Internet, the number of investors who succeed in developing financial freedom through property has not increased over the years, so my recommendation is to tune out the white noise and be selective in who you listen to. I suggest you look for evidence-based analysis.
That’s why I enjoy my monthly Big Picture podcasts with Pete Wargent, who brings decades of perspective to his views.
Today, we will be discussing a raft of macro and micro economic factors that should give you some clues as to what’s ahead for our housing markets.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join Pete and me at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: Our No-Nonsense Big Picture Podcast About the Economy and Property Markets, with Pete Wargent
Wed, 20 Mar 2024 - 36min - 648 - Don’t Fall for the Trap: Navigating the Minefield of Financial Scams with Stuart Wemyss
In an age where financial transactions have largely moved online, the prevalence of financial scams has surged, catching many Australians off guard.
The Australian Competition and Consumer Commission reports that Australians lost a record $3.1 billion to scams in 2022. This is an 80 per cent increase in total losses recorded in 2021.
This staggering loss highlights not just the cunning of scammers but also their ability to adapt to changing technologies and exploit new vulnerabilities.
So, in today’s podcast with independent financial advisor Stuart Wemyss, I want to ask him how to spot the signs of a scam.
Our conversation today is an eye-opener, revealing common tactics scammers use to exploit the digital landscape and deceive individuals. We touch on personal experiences and the various types of scams, such as phishing and false billing.
Whether you're an experienced investor or a beginner, this episode is packed with practical insights and data-driven predictions to help you make informed decisions.
Amidst sharing these insights, we underscore the significance of safeguarding personal and financial information and discuss how banks' robust security measures, though sometimes inconvenient, are critical in protecting us from these fraudulent activities.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Wealth Retreat 2024 – www.WealthRetreat.com.au
Shownotes plus more here: Don’t Fall for the Trap: Navigating the Minefield of Financial Scams with Stuart Wemyss
Mon, 18 Mar 2024 - 37min - 647 - Rich Habits for Real Estate Success: Tom Corley's Approach
In today’s episode of the Michael Yardney podcast, I explore the power of positivity in wealth creation together with Tom Corley, the co-author of my international best-selling book, Rich Habits, Poor Habits.
We’ll be dissecting Tom’s blog post "Don't Let Others Infect You With Their Negativity," and discussing how a positive mindset is about more than just feeling good – it’s an important factor in successfully investing in property and building wealth.
We’ll also talk about how you can apply Tom’s principles to your own property investment and wealth journey.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Join us at Wealth Retreat 2024 at the end of April – www.WealthRetreat.com.au
Shownotes plus more here: Rich habits for real estate success: Tom Corley’s approach
Wed, 13 Mar 2024 - 33min - 646 - From Boomers to Zoomers: Simon Kuestenmacher's Analysis of Decadal Shifts in Property
I’ve often said that demographic changes will be more important in shaping our property markets in the medium to long term than the ups and downs of interest rates or the vagaries of our economy, so I am pleased to have leading demographer Simon Kuestenmacher back on the show.
Simon is a co-founder of The Demographics Group and a master in interpreting data and trends to forecast how societies evolve, and his insights are pivotal for anyone interested in property, lifestyle changes, and investment strategies.
Today, we talk about what's ahead over the next 10 years and how each generation will experience the year 2033. Together, we'll delve into demographic shifts, technological influences on living spaces, and the impact of economic policies on housing trends.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher – Director, The Demographics Group
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join Simon and me at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: From Boomers to Zoomers: Simon Kuestenmacher’s Analysis of Decadal Shifts in Property
Mon, 11 Mar 2024 - 36min - 645 - 40 years, 40 property investment lessons to crack the real estate code
Hindsight is a wonderful thing, isn’t it?
Knowing what you know now, what would you have done differently if you had the opportunity to invest in property 10, 20, or even 40 years ago?
Well, I've been investing for decades, which gives me the perspective to see patterns in the chaos that many others see in the world of property and their economy at the moment. Join me on a reflective journey back to 1980 as I share a treasure trove of insights from my property investment odyssey.
Listen in as I draw parallels between past economic challenges and today's landscape, underscoring the importance of perspective and pattern recognition for successful investing. You'll hear candid stories of my own property investment triumphs and missteps, aiming to arm you with direction and certainty for the often unpredictable property markets.
This time, it's a solo session—just you and me—unpacking the timeless wisdom that has stood the test of decades in the property investment realm.
Wealth Through Walls: Lessons from a Lifelong Property Investor
In this episode, listeners will be taken on a journey through the evolution of the real estate market and gain insights into the strategies that have stood the test of time. From understanding market cycles to the nuances of Australian property investment, we explore many lessons I wish I knew starting out and the triumphs and challenges that have shaped my approach to building wealth through real estate.
● The importance of perspective and pattern recognition in navigating the property investment landscape
● Economic challenges and market fluctuations over the past 40 years
● The significance of long-term wealth strategies, asset protection, and risk mitigation
● The pitfalls of applying foreign investment strategies to the Australian market
● Leveraging compounding, renovations, and strategic debt to manufacture capital growth
● Distinguishing investment-grade properties and the science and art of property investment
● Emphasizing location, the right property type, and avoiding the crowd for capital growth
● The psychological resilience required to succeed in the unpredictable real estate market
● Continuous learning and adapting to changes are essential components of a successful investment philosophy
This episode is a must-listen for anyone looking to deepen their understanding of real estate investing, whether they are seasoned investors or just starting out. Hopefully, today’s show can provide a roadmap to building a robust property portfolio and achieving financial freedom through smart and strategic real estate decisions.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Some of our favorite quotes from the show:
“Over the years, another lesson I learned was that every year we get hit by an X factor, an unforeseen event or situation, something that blows away all our carefully laid plans.” – Michael Yardney
“Often the first 10 years of investing are wasted making mistakes and learning what not to do, following the wrong path, taking the wrong strategy or not having any strategy.” – Michael Yardney
“And when you expect to fail, fear loses all its power over you. When you no longer fear failure, you feel empowered to take action.”– Michael Yardney
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Wed, 06 Mar 2024 - 44min - 644 - The Federal inquiry into the rental crisis was a “waste of taxpayers’ money, with Nicola McDougall
It has become more and more challenging for Australians to find a rental home since the pandemic started. Availability has plunged and rental rates have skyrocketed by as much as 33% in capital cities.
Some locations show the vacancy rates moving up slightly in recent months, but the rental market is far from balanced, and this results in a headache for many tenants.
Last year, there was a Senate inquiry on the rental crisis. Today’s guest, Nicola McDougall, chair of the Property Investment Professionals of Australia (PIPA), says that their recommendation was a waste of money.
Listen to our discussion as we talk about why, discuss the state of the rental markets, and consider what’s ahead.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Results of PIPA’s Annual Sentiment Survey
Shownotes plus more here: The Federal inquiry into the rental crisis was a “waste of taxpayers’ money, with Nicola McDougall
Mon, 04 Mar 2024 - 36min - 643 - Unravelling Domain’s Latest Housing Reports: Insights from Dr. Nicola Powell
A tenth of the year is already behind us, and as a person who’s interested in the property market, you’re probably wondering what’s coming over the remainder of the year.
My guest today is Dr. Nicola Powel, Domain's Chief of Research and Economics, and she’ll give you some insights into what’s coming by discussing Domain’s most recent reports and what they say about current developments in the housing and rental markets.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr Nicola Powell, Domain’s Chief of Research and Economics
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Unravelling Domain’s Latest Housing Reports: Insights from Dr. Nicola Powell
Wed, 28 Feb 2024 - 47min - 642 - Our no-nonsense Big Picture Podcast about the economy and property markets with Pete Wargent
In this month’s Big Picture episode of the Michael Yardney Podcast, Pete Wargent and I dissect the multitude of macro-economic factors currently shaping our housing markets and the broader economy.
There’s a lot to discuss today including the latest inflation data, this month’s RBA’s interest rate decision, and what both these mean for the future of interest rates and our housing markets.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join Pete and me at Wealth Retreat – www.WealthRetreat.com.au
Shownotes plus more here: Our no-nonsense Big Picture Podcast about the economy and property markets with Pete Wargent
Mon, 26 Feb 2024 - 39min - 641 - Breaking Your Wealth Barrier: Resetting Your “Wealth Thermostat” with Jackson Millan
In today’s podcast we're venturing into a fascinating area that intersects with both wealth creation and the human psyche.
We've all heard of self-sabotage, but have you ever wondered why some of the most intelligent and capable individuals hit an invisible ceiling in their property, investment, or business ventures?
Why do some people, despite their knowledge and skills, only reach a certain level of success?
Well, today, we're diving deep into what I like to call your 'wealth thermostat' - a concept that suggests our early experiences and beliefs set a sort of psychological temperature for the level of wealth and success we're comfortable with.
Joining me today is Jackson Milan – The Wealth Mentor.
Jackson has a unique insight into how our childhood experiences and subconscious beliefs shape our financial destinies.
So, whether you're looking to break through your own financial barriers, understand the psychology behind wealth creation, or just curious about why we do what we do with our money, this episode is for you.
Links and Resources:
Jackson Millan – The Wealth Mentor at Aureus Financial
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 www.WealthRetreat.com.au
Shownotes plus more here: Breaking Your Wealth Barrier: Resetting Your “Wealth Thermostat” with Jackson Millan
Wed, 21 Feb 2024 - 44min - 640 - How interest rates are reshaping our property markets in 2024, with Stuart Wemyss
Now inflation has been tamed and interest rates have peaked, many market commentators and property economists are updating their forecast for 2024.
While the media loves sharing short-term forecasts, the longer-term outlook is more important for investors as it better aligns with their investment horizon.
Investors should consider where the market will be in 10 years, rather than where interest rates will be in six months.
However, in today’s podcast, I discuss the dominant influences on our housing markets for 2024 with independent financial advisor Stuart Wemyss, founder of Prosolution Private Clients. We’ll break down the influence of inflation and interest rates on real estate trends, while also considering the broader implications of economic changes.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Wealth Retreat 2024 – www.WealthRetreat.com.au
Shownotes plus more here: How interest rates are reshaping our property markets in 2024, with Stuart Wemyss
Mon, 19 Feb 2024 - 40min - 639 - Stop picking on property investors with Mike Mortlock
In today’s show I'll discuss the complexities of Australia's housing market with my guest Mike Mortlock, the director of MCG Quantity Surveys.
In our conversation today, we spoke about lots of interesting things that will give you some insights into our housing market.
In particular, we explore a disturbing “tall poppy syndrome” narrative that’s taken place over the last little while. It puts property investors in the role of villains who are against the Australian dream of home ownership, and we believe this is an unfair and inaccurate portrayal.
We explain why that’s inaccurate and tell politicians it’s time to stop picking on property investors.
We also talk about the rental crisis, what's ahead for our property markets, and Mike’s views on what will happen with AI and the property markets.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Mike Mortlock – MCG Quantity Surveyors
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 www.WealthRetreat.com.au
Shownotes plus more here: Stop picking on property investors with Mike Mortlock
Wed, 14 Feb 2024 - 44min - 638 - Pocketing Prosperity: Exploring Morgan Housel's Wealth Wisdom Part 2
Have you set big goals for yourself in investing or business in 2024? Is financial freedom part of your plan?
Today’s show is a continuation of a two-part series where Mark Creedon and I explore 18 Wealth Lessons from Morgan Housel’s great book The Psychology of Money.
Housel tells us about the principles of behavioral finance rather than property strategy or finance tips. The psychology of investor behaviors can help you understand why some make successful moves while others don’t, and help you create the right wealth habits and mindset for yourself.
In the last show, we discussed 9 wealth lessons in the first 9 chapters of the book. Mark and I continue on today with the rest of the chapters. No matter where you are on your financial journey, today’s show will help you on the way to financial freedom and property, investment, and business success.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 – find out more and register your interest – www.WealthRetreat.com.au
Shownotes plus more here: Pocketing Prosperity: Exploring Morgan Housel’s Wealth Wisdom Part 2
Mon, 12 Feb 2024 - 44min - 637 - 10 property forecasts for the next decade and 10 things that will stay the same With Brett Warren
At the start of a new year, forecasters come out of hibernation with all of their predictions for what’s ahead of us.
Property investors always want to know what’s going to happen in the future, but when you look at their predictions in the past, their track record leaves much to be desired.
Should you really pay attention to forecasts?
I’ll discuss that in today's episode with Brett Warren, National Director of Metropole Property Strategists. While we’re at it, I want to make 10 forecasts for the decade ahead and also talk about 10 things that will remain the same in property.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 – express your interest here – www.WealthRetreat.com.au
Shownotes plus more here: 10 property forecasts for the next decade and 10 things that will stay the same With Brett Warren
Wed, 07 Feb 2024 - 50min - 636 - 18 Wealth Lessons from “The Psychology of Money” by Morgan Housel with Mark Creedon
Today’s show is aimed at helping you become a better investor, entrepreneur, or business person with the help of the wealth lessons in Morgan Housel’s book, The Psychology of Money.
Rather than property or finance strategies, Housel’s book is about the principles of behavioral finance. Understanding the effects of psychology on investors and financial markets can give you important insights and help you overcome the biases that are holding you back.
Listen in as Mark Creedon and I explore quotes from Housel’s book and explain why investors sometimes seem to make bad decisions or work against themselves, and how you can avoid falling into these pitfalls. We’ll cover each chapter over two episodes of the Michael Yardney Podcast
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 – find out more and register your interest – www.WealthRetreat.com.au
Shownotes plus more here: 18 Wealth Lessons from “The Psychology of Money” by Morgan Housel with Mark Creedon
Mon, 05 Feb 2024 - 35min - 635 - 23 property investment lessons from 2023 you don’t want to forget
Knowing what you know now, what would you have done differently in 2023?
In this episode, we reflect on the pivotal lessons of the past year, providing 23 key insights that have reshaped our real estate investment strategies.
From the intricate analysis of diverse Australian property cycles to the crafting of tailored strategic plans, we dissect the forces influencing market dynamics and how to leverage them for wealth accumulation.
Emphasizing the significance of risk management, asset diversity, and long-term planning, we delve into the marathon journey to financial independence through property investment.
Alongside practical investment wisdom, we also touch on the philosophical, advocating for contentment and gratitude in our pursuit of success.
This episode is not just a treasure trove of investment advice, but also a reminder of the importance of aligning our financial goals with personal fulfillment.
And as I share these lessons with you I hope they'll give you some direction and certainty in the challenging markets ahead.
The Investor's Compass: 23 Vital Lessons in 2023's Real Estate Market
With a focus on the Australian real estate landscape, these 23 lessons provide a comprehensive guide to building a resilient and profitable property portfolio. Listeners are invited to explore the lessons learned from the past and how they can be applied to ensure investment success in the current year.
1. Expect the unexpected
The biggest risk is the one that no one sees coming. If no one sees it coming then no one is prepared for it and if no one is prepared for it, its damage will be amplified when it arrives.
2. Focus on the long term
It’s not a good strategy to make 30-year investment decisions based on the last 30 minutes of news.
3. It’s the media’s job to entertain you – not educate you
Negative headlines drive clicks and views and get eyes on advertiser content. That doesn’t mean they’re reliable.
4. Take economic forecasts with a grain of salt
It’s often the things you can’t predict that make the difference, while the things you can predict don’t have as big an impact.
5. Don’t believe the doomsayers
There will always be somebody wanting to stall the aspirations of their fellow Australians who are looking to take their financial futures into their own hands and do something about it.
6. No one really knows what’s going to happen to the property markets
While it’s important to have mentors, make sure you’re listening to somebody whose opinions are based on successfully investing through multiple cycles.
7. There is no such thing as the “Australian property market.”
There are multiple markets in Australia, and each state is at a particular stage of its own property cycle within each state multiple submarkets depend on price point, geography, and type of property.
8. Don’t try and time the market
If you buy the right investment-grade assets, time in the market is much more important than timing the market.
9. The crowd is usually wrong
Market sentiment is a key driver of property cycles and one of the reasons why our markets overreact, overshooting the mark during booms and getting too depressed during slumps.
10. Property investment is a game of finance with some houses thrown in the middle
Strategic property investors have a financial plan to buy themselves not only real estate but also time.
11. You need to plan
Attaining wealth doesn’t just happen, it’s the result of a well-executed plan.
12. Invest for Capital Growth
Cash flow is important and will keep you in the game, but it’s capital growth that gets you out of the rat race.
13. There will always be reasons not to invest
Focus on your long-term goals and remember that the year’s crises are part of the normal course of history.
14. Property investment is risky in the short-term, but secure in the long term
2022 reminded many property investors that real estate is not a way to get rich quickly.
Those who stay in the property game benefit from the power of compounding growth which builds wealth but takes time.
15. Plan for the worst and look forward to the best
There will always be those X factors that crop up and affect the market. Protect yourself by planning well, but also planning on the plan not going according to plan.
16. You can't rely on one stream of income
Rather than relying on your job as an income source, become financially fluent, learn to invest, and develop multiple streams of income.
17. There are always risks associated with investing
Don’t be afraid of failing, because the biggest risk is not doing anything to protect your financial future.
18. Cautious optimism is better for your investment health than perma-pessimism.
But having said that, optimists are more successful in all areas of life than pessimists.
19. Time is a limited resource – don’t waste it
You can lose money and get it back again, if you’re sick you can often get your health back again, but once the time has gone it is gone and is irretrievable. Start to capitalize on the time you have and get a whole lot more done.
20. The only certainty is change
Changes are a normal part of life; the problem is most of us don’t like change – we like certainty. However, learning to expect change has brought me hope during challenging or unexpected life events.
21. Worry Better
Worrying about the right things can motivate you, but if you find it unproductive, try to take your mind off things by getting engaged in other activities.
22. This too shall pass
I've learned that making long-term investment decisions based on short-term concerns is not a recipe for success.
23. 2023 was the year of AI
Moving forward, it's likely you will be utilizing tools and platforms that should streamline your investment process, provide valuable insights, and manage your properties efficiently.
The episode underscores the idea that success is not just about acquiring assets but also about meticulous planning, understanding market trends, and preparing for the unexpected.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024 on the Gold Coast in April 2024 – click here to find out more
Some of our favorite quotes from the show:
“I guess one way of looking at the media is to imagine how much stuff you'd have to make up if you were forced to talk 24-7. Remember, that's really what watching the financial news on TV or in the media is like.” – Michael Yardney
“So I guess the message from this is remember that each property boom sets us up for the next downturn.” – Michael Yardney
“I think the first thing you should do is practice noticing what's great about what you've got.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 31 Jan 2024 - 53min - 634 - Critical Investment Lessons we learned at Wealth Retreat with Brett Warren | Summer Series
Today I want to share some top wealth-creating insights that Brett Warren and I gained at Wealth Retreat.
This is Australia’s number one learning and networking event for already successful property investors, businesspeople, and entrepreneurs, which we held on the Gold Coast in April last year.
As I spoke to many of the attendees from previous years, I was blown away and humbled by the feedback as they explained how Wealth Retreat had changed the way they handle their investments, business, and in fact many aspects of their life and how it was the best event they had ever attended.
So, what did they learn? That’s what we’re going to discuss today.
Wealth Retreat Lessons
Last year’s Wealth Retreat on the Gold Coast has now been and gone.
There were 100 successful property investors, business people, and entrepreneurs in the room. And while they learned some great lessons from the world-class presenters up on stage, they also learned from the other guests over the 5 days.
After all, how often do you find yourself in a room full of successful, like-minded people, that walk and talk the same language? Opportunities like this are few and far between and not to be missed.
So today, I’m joined by Brett Warren, national director of Metropole who’s been to Wealth Retreat over a dozen times, to see what lessons he learned, or re-learned, that he could share with you.
Lesson 1 – Creating Wealth is a Process, Not an Event
When I started my wealth journey, I was always waiting for something “big” to happen. I too played the lottery and waited and hoped. Maybe one day I would buy a property and develop it to then sell for a huge profit.
To my relief and probably yours, I found out there is a better way.
We had a great session about using a specific framework to find a pathway to your goals.
We started out by working out what our end goal is, that is what we would like to achieve, and in what timeframe. Then by following the proven framework, we can reverse engineer and put the steps in place to understand what is required to get there.
Lesson 2 – Time and Task Prioritisation
How is your time management?
You need to work out what your A, B, C, and D class activities are.
In short, class activities are generally events that happen maybe only a couple of times each year but can generate the greatest amount of income. An example may be attending an event like Wealth Retreat.
B class activities are next, and while not as important as A class activities will still generate a good amount of income and so on to C class and then D class activities. D class activities are the least of the income-producing tasks, like fixing a printer or minor admin tasks.
This was a great exercise to understand where you are your most dollar productive.
Lesson 3 – A Wealth Thermostat
Your mind is like a cup, once it is full of water, it overflows, and you are unable to put any more water into the cup. To take on more water, you need to increase your cup size.
So, to increase your financial thermostat, and therefore your wealth, you need to increase your mind's capacity.
If you liken the water to opportunity and your mind to the cup, once your mind reaches capacity, you may miss opportunities that come your way.
Lesson 4 – To become financially independent you need to treat your property investments like a business
Over the last few years, it became obvious to me that those investors who treated their property investments like a business were the ones who managed to develop financial independence from their properties. And those that didn’t seemed to be working for their properties rather than the other way around.
A small group of Australian investors treats their properties as a business. They are the CEO of their business and realize that it’s not how much money you make that matters, but how hard that money works for you and how much you keep that matters.
They have a plan including a property plan, a finance plan, a tax plan, and an asset protection plan and are surrounded by a good team of specialists.
Lesson 5 – Alone you are vulnerable; connected we are strong
Many investors think they must do it all themselves or learn it all themselves. Partly because they think they know better than others or maybe it’s because they are not hanging around the right people – supportive, encouraging people.
And these get harder to find, the more successful you are. But we cannot be our best selves in isolation from the world. We need other people. The key is making sure we're spending time with people who inspire, empower, and encourage us.
Lesson 6 – Your peer group is contagious
● Will your current peer group empower you to reach your deepest dreams goals and your life’s purpose?
● Will they hold you accountable to a high enough standard or will they let you slip back into your old comfort zone?
● Will they feed your ideas and give you input to help you overcome challenges you face along the way?
● Will they support you when you're having a tough moment?
● Do they inspire you to keep performing at your highest and best capabilities?
If not, what are you doing about changing that? It's ultimately up to you to find and create the peer group that will help you live the life you want to live.
Lesson 7 – After a "Loss" we tend to go back to what we knew
One of the most important insights that I want to share is that when most people suffer a "loss" financially, their natural tendency is to pull back and isolate themselves.
But isolation only makes things worse. You need to accurately assess the situation, learn your lessons, and move forward. This is why your peer group and mastermind team are so essential.
We are moving into a new financial era - a time of amazing opportunities and some real risks. To succeed in this environment we need the support, insights, and perspective of a trusted group of advisers and peers.
Lesson 8 – Your Mastermind Team
One of the exciting parts of Wealth Retreat this year was the small group breakout sessions. This is a masterminding technique where you ask a focused power question to your mastermind group, and they have time to brainstorm as many possible answers to your question as possible.
9. Real Wealth Is What You Give
The most successful participants from Wealth Retreat all have moved to a place where money isn't what motivates them.
Money is a sufficiency need. Once you have enough of it, it ceases to be important.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Join us at Wealth Retreat 2024. http://www.wealthretreat.com.au/
Some of our favourite quotes from the show:
“Most people’s financial thermostat has been set by the things they learn, the things they heard, the things they experienced as a child.” – Michael Yardney
“I think that’s one of the traits of successful people, that they’re actually not jealous of successful people.” – Michael Yardney
“Once money’s sufficient, then you have to move on to other things.” - Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 29 Jan 2024 - 31min - 633 - Forecasting property investing returns: what can we expect over the next decade?
Now here’s a question for you - what sort of returns can you expect from your property investments over the next decade?
In today’s episode, independent financial advisor Stuart Wemyss provides an insightful exploration into what you can expect in the coming years.
Unpacking the Next Decade of Property Investment Returns
With a deep dive into data-driven analysis, historical trends, and potential opportunities and risks, my conversation with Stuart offers a wealth of knowledge for those navigating the property investment and rental market landscapes.
We explore the recent period of low rental growth, the contributing factors, and possible solutions to balance the needs of owner-occupiers and investors.
● Potential returns for property investors over the next decade, focusing on data-driven analysis, historical trends, and potential opportunities and risks.
● The average 9.7% rolling decade return for Melbourne and Sydney, which demonstrates the significance of long-term returns over short-term predictions.
● The recent period of low rental growth and the contributing factors, such as low interest rates and dominance of owner-occupiers in the market.
● The need for a balance between owner-occupiers and investors to solve the current rental crisis.
● How to attract more private landlords to provide affordable accommodation and help those who are struggling to enter the mortgage market.
● Recent market changes and their impact on rental and capital growth.
● The potential role of the government in resolving the rental crisis.
● The concept of mean reversion and its potential impact on future returns.
● The importance of being prepared for uncertainties and potential headwinds in the property market.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart Wemyss’ blog mentioned in this show
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“But we were talking about the concept that there aren't enough private landlords, and in Australia the system is such that about a third of Australians rent, and not necessarily because they're poor, often just because of the stage of their life.” – Michael Yardney
“There's going to be headwinds this year. Interest rates are going to probably remain a bit higher a bit longer than some expected, inflation is going to take a little bit longer to get under control if the government has its way.” – Michael Yardney
“Rather than keep us alive, our worries are more like spinning on a wheel in a ditch.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Fri, 26 Jan 2024 - 36min - 632 - This may be exactly what is holding you back from being a more successful investor, with Mark Creedon | Summer Series
Maybe you’re too biased to become a successful property investor?
What do I mean by that?
Well…did you know that we can sometimes be our own worst enemy as property investors?
It’s not because of the decisions we make, the opportunities we consider, or the investments we miss out on, but rather, it’s due to the way we think.
By the last count, I’ve read that there are 188 types of these fallible mental shortcuts in existence, and they constantly impede our ability to make the best decisions about our careers, our relationships, and for building wealth over time.
So, whether you are a beginner or an experienced investor, whether you’re in business or an entrepreneur you’ll enjoy my chat today with Mark Creedon, founder of Mastermind Business Accelerator as we discuss why seemingly rational people act irrationally when it comes to money.
Cognitive Biases You Need to Know
Without always knowing it, property investors are pre-programmed with a range of biases which may cause them to interpret information incorrectly and thus undertake sub-optimal investment decisions.
You see, most of us think we’re rational people but we’re not.
There is no shortage of cognitive biases out there that can trip up our brains.
However, because cognitive biases are based on generalizations and assumptions, they can’t always be correct.
And if you don’t check your reasoning, they can lead to judgments and decisions that negatively impact your business.
1. Confirmation bias
People tend to search for information that confirms their view of the world and ignore what doesn’t fit.
In an uncertain world, we love to be right because it helps us make sense of things.
One way to counter confirmation bias is to read things you’re going to disagree with. In other words, read all you can from reputable sources, whether it’s confirming your original view or not.
2. Anchoring bias
We have a tendency to use anchors or reference points to make decisions and evaluations, and sometimes these lead us astray.
This is because the initial price you set for a house or car or more abstractly, for a deal of any kind, tends to have ramifications right through the process of coming to an agreement.
Whether we like it or not, our minds keep referring back to that initial number.
It’s important for you to evaluate any property deal based on its own fundamentals and all the information you have available from your research and due diligence at the time.
3. Awareness bias
How are your investments performing – are you happy with the results you’re getting?
It’s been shown the poorest performers in all areas of life are the least aware of their own incompetence, a phenomenon known as the Dunning-Kruger effect.
If you’re the smartest person on your team you’re in trouble.
It’s best to work with a team of mentors and professional advisors.
4. Positivity bias
In the face of lack of capital growth, prolonged vacancies, or inflated expenses, some investors continue to believe that their investment will turn the corner “one day.”
The problem with this is that when all signs point to a dud investment, it likely is one – but positivity bias can stand in the way of an investor taking action to rectify the situation.
One of the best things an investor can do is admit what they don’t know and get a good team of professionals around them.
5. Negativity bias
Just as some investors can be overly positive this is the tendency to put more emphasis on negative experiences rather than positive ones.
Our ancestors evolved a brain that routinely tricked them into making three mistakes: overestimating threats, underestimating opportunities, and underestimating resources. This helped keep them alive. It’s a great way to pass on genes, but a lousy way to promote quality of life or grow your wealth through property.
Fact is: there will always be property pessimists around, but you can minimize your risks and maximize your upside if you educate yourself and become financially fluent, follow a proven strategy, and get a good team around you.
6. Status quo bias
This describes our tendency to stick with what we know, whether or not it’s the best course of action.
Psychologists call this “loss aversion” and it explains why so many Australians are willing to stick their money in a plain old bank account earning minimal interest, rather than taking the “perceived risk” of property investment.
Successful investors, businesspeople, and entrepreneurs have mentors, coaches, and mastermind groups to help them see their blind spots and to encourage them to keep moving forward.
7. Survivorship Bias
The misconception here is that you should focus on the successful if you wish to become successful, while the truth is that when failure becomes invisible, the difference between failure and success may also become invisible.
The trick when looking for advice is to not only learn what to do but also look for what not to do.
8. Bandwagon bias
This is the psychological phenomenon whereby people do something primarily because other people are doing it.
The bandwagon effect has wide implications but is commonly seen during strong property markets where the media stirs up a frenzy and it’s one of the factors that lead to asset bubbles.
But when it comes to financial matters we know “the herd” is usually wrong – most property investors never build a substantial portfolio.
It pays to remember that just because everyone else is doing it, that doesn’t mean you should follow the crowds.
9. Restraint bias
Following on from bandwagon bias, restraint bias is the tendency for people to overestimate their ability to control impulsive behavior.
Psychologists say the very people who think they are most restrained are also most likely to be impulsive.
10. Bias bias
Failing to recognize your cognitive biases is a bias in itself.
Arguably this is the most damaging bias because having blind spots means you’re less likely to recognize any of these psychological influences in yourself.
Simply becoming aware of these biases means half your battle against your own worst enemy – yourself – is won.
The bottom line:
We all want to think we are rational and biases are things that afflict other people.
However our brains are designed with blind spots and one of their clever tricks is to confer on us the comforting delusion that we, personally, do not have any biases.
This is why so many of us are not only bad with money but make the same mistakes over and over again.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business not a Job
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“It’s actually not as much the investment, it’s about the person.” – Michael Yardney
“In fact, it’s been shown the poorest performers in all areas of life are the least aware of their own incompetence.” – Michael Yardney
“There will always be pessimists around, but I don’t really know any rich pessimists.” - Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 24 Jan 2024 - 37min - 631 - Is buying property really harder today than it was decades ago? With Stuart Wemyss | Summer Series
Homeownership is looking further out of reach for anyone without family wealth, as over the last few years property prices kept growing and wages fail to keep up.
Over the last decade or so property prices keep growing and wages failed to keep up and over the last few years affordability seems to have decreased as interest rates keep increasing.
Is it really harder to get into the property market today than it was a number of decades ago?
That’s what I discuss today with independent financial adviser Stuart Wemyss.
And even if you already own a home, I’m sure our discussion will be valuable because it will help you understand what we believe is ahead for our housing market.
Is homeownership harder today?
Many people are suggesting it's much harder to buy a property today than it was years ago.
They’re telling us that Baby Boomers don't really understand how hard it is.
My guest today, independent financial advisor Stuart Wemyss, believes it's actually easier to buy a property today than it was many decades ago.
Now I know some people listening to this one disagree so I'm looking forward to hearing his views.
Millennials are telling us that buying a house today is far harder than when their parent got into the market because the rate by which property prices have soared is well beyond that of wage growth.
At first glance these arguments make sense, but there’s more to it than that.
I would like to suggest that in many respects, buying a property today is easier than it was many decades ago.
1. Abundant access to information, knowledge, strategies, advice, and so forth
How do you get ahead financially? One solution is to get the best advice so that you make the most of your financial opportunities. Often people learn by trial and error, but that can be expensive and waste valuable time. You can fast-track your financial success by learning the best way to use your money.
● There is an absolute abundance of information that is available on the internet.
● Most of it is accessible instantaneously at no cost.
● Blogs, forums, podcasts, books, websites, software, and so on.
It cannot be underestimated how valuable that is.
25 years ago, no such information was available. There were a few books about property investing, but not many. The only way to learn about borrowing strategies was by meeting bank staff, but they weren’t particularly knowledgeable or helpful. Therefore, unless you knew a successful property investor, it was hard to access knowledge.
As the saying goes, “knowledge is power”.
2. Much higher borrowing capacity
Thirty to forty years ago, borrowing 3 times your gross income was seen as very high risk. Today, the banking regulator (APRA) classifies a high-risk borrower as anyone that borrows more than 6 times their gross income.
Therefore, by this measure, borrowing capacity has increased by 2 to 3 times over the past few decades.
In addition, 30 years ago, it was not possible to borrow more than 80% of a property’s value. Today, owner-occupiers can borrow up to 95%.
3. Higher earning capacity and more employment opportunities
The internet has made it very easy to connect with people around the world. This means people can explore a lot more job opportunities. In fact, given the increased acceptance of working from home, it is not even necessary for you to live in the same country as your employer.
Whilst these advancements might make the job markets more competitive, for some occupations it opens (literally) a whole world of opportunities. Therefore, first-time property buyers can proactively explore many opportunities to increase their income, thereby increasing their borrowing capacity and purchasing power.
In addition, incomes have increased in real terms over the past few decades, especially for many professional white-collar occupations. There are some young people earning 2 to 3 times more than what was possible in their occupation decades ago. I discuss this further below.
4. Family guarantees & the bank of mum and dad
The biggest impediment that delays first-home buyers getting into the market is saving enough for a deposit. First homeowners need a minimum deposit of at least 12% of a property’s purchase price (a 5% deposit plus 7% for costs including stamp duty and legal fees). That can take a long time to save.
The most effective way to alleviate a lack of deposit is to get help from family. This might come in the form of providing a family guarantee. Alternatively, parents might prefer to provide their child with a gift or a loan.
Most baby boomers have benefited greatly from higher property prices over the past few decades and are in a good position to help their children.
5. Cash flow budgeting/management tools
It is critical that young people establish good cash flow management practices as soon as they enter the workforce, as these habits tend to stick with you over your lifetime. Establishing a strong savings pattern will serve two purposes.
● Firstly, it will help a prospective home buyer save a larger deposit, sooner.
● Secondly, it will demonstrate (to themselves and a bank) that they have the necessary surplus cash flow to service a loan.
There is a huge array of tools available to people today to help them improve their cash flow management.
6. Ability to invest outside of your domicile location.
The internet has made buying a property outside your domicile location a lot easier. For example, if you live in a regional town, it probably makes financial sense to invest somewhere else.
A lot more equity in dollar terms
It is relatively easy to accumulate over $1 million in equity in a property if you (1) buy well and (2) hold it for a couple of decades. Of course, this is a function of borrowing more i.e., property costs a lot more today than it did decades ago. But if you can afford a higher loan and you hold a property for the long term, the wealth effect can be substantial.
One downside to this is that borrowing more means that you either must generate substantial income to be able to repay the loan or downsize the property at some stage to reduce/repay debt.
Do all these positives offset higher prices?
The average median house price in Melbourne and Sydney in 1980 was almost $53,000. Adjusting for inflation, this equates to $268,000 in today’s dollars. The average median house price in Melbourne and Sydney has increased to $1.2 million (Sept 2022). Therefore, house prices have increased 4.5 times in real terms since 1980.
Income plus higher borrowing capacity
Borrowing capacity has more than doubled since 1980 and professional salaries have risen by more than 30%. This means buying power has increased by a factor of 3 to 3.5 times over the past four decades.
It can be more difficult today
It can be more challenging to be a first-time buyer today. But a lot of the advancements over the past few decades have gone a long way toward mitigating the impact of higher prices (or, more correctly, driving prices higher).
Most importantly, it is easier to make the right decision today. Mistakes can be very costly.
If I knew what I know today before I purchased my first home 25 years ago, the financial outcomes would have been a lot different. This knowledge allows younger people to make a lot of money from property if they have the motivation and desire to do so and they are prepared to work hard and sacrifice.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Some of our favourite quotes from the show:
“I think one of the other factors that have changed over time is there are more people to get advice from, which is good in some ways, but it’s also hard to work out who you should take advice from.” –Michael Yardney
“There are a number of state government and federal government initiatives that are helping first home buyers get into the market.” – Michael Yardney
“A lot of people are rentvesting now. They realize that they can’t afford to buy where they want to live, so they rent where they want to live and buy in another state.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 22 Jan 2024 - 40min - 630 - The Game Changer: The Crucial Shifts for Prosperity in this New Year - with Jarrad Mahon
Many people are continually in pursuit of financial freedom. Yet, only a few seem to understand the true path to this seemingly elusive destination. It's not just about earning more or saving more; it's about cultivating the right mindset.
I'm going to start today's show with a bold claim. I'm going to suggest that this is probably going to be one of the most important podcast episodes you're going to listen to in the next 12 months. Today you're going to hear Jarrad Mahon, director of Investors Edge real estate in Perth, interview me for his Perth Property Insider podcast. This happened a few months ago after Wealth Retreat last year.
We're at the beginning of a new year which will be full of challenges but also full of opportunities, and it's very likely that you made some resolutions, or at least some thoughts about your plans for the upcoming year. Now I'm going to share with you a sneak peek behind the curtains of what a small group of already very successful property investors, businesspeople, and entrepreneurs learned at Wealth Retreat.
We're going to talk about why a small group of investors outperform and what you may have to do differently this year because, as I also say at Wealth Retreat, the best is yet to come.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Jarrod Mahan – Investors Edge Perth
Join us at Wealth Retreat 2024 – find out more here and express your interest.
Shownotes plus more here: The Game Changer: The Crucial Shifts for Prosperity in this New Year – with Jarrad Mahon
Fri, 19 Jan 2024 - 40min - 629 - Do you understand the 5 levels of investing? | Summer Series
In today’s show, I want to discuss with you the five levels of investing, a framework that I have created to help you understand where you are on your journey and to help you make sure you reach the top level as a successful investor.
Then I’m going to share some interesting information with you about the tsunami of wealth Baby Boomers are expected to leave their children.
Do you understand the Five Levels of Investing?
If you want to become a successful property investor, you really need to understand the five levels of investing. I’ve created a model to explain the progression most investors take in their path to developing financial freedom.
Level 0 – The Spender
Level 0 are really not investors – they tend to be spenders and borrowers and as a result, end up with a high level of debt.
A large part of our adult population falls into this category and they will never become wealthy unless they do something radically different.
Level 1 – The Saver
Most people who are not spenders will generally be what I call savers.
Their main investment is their home, which they aim to pay off over time.
Sometimes they save a little, squirreling away a few dollars of what’s left over after paying tax but in general, they save to consume, not to invest.
They will get the most leverage by investing in themselves and getting a quality financial education and beginning to build a network of peers whom they can make the journey with.
Level 2 – The Passive Investor
Level 2 investors have become aware of the need to invest.
They realize their superannuation won’t get them through retirement, so they learn about investment and accumulate assets.
While they are generally intelligent people, they are still what I would call financially illiterate – they don’t really understand the rules of money.
They must unlearn the flawed, incorrect, and misguided lessons they have learned about money and wealth from unqualified teachers.
Level 3 –The Active Investor
Level 3 investors realize that they must take responsibility for their financial future and become actively involved in their investment decisions.
They become financially literate by building a knowledge base of investment strategies and techniques.
Level 3 investors usually leverage the time and expertise of a network of industry professionals as they realize that they can’t do it all themselves.
They also upgrade their network of advisors and peers, often joining a Mastermind group of like-minded people.
Level 4 – The Professional Investor
A very small group of investors move to the top rung of the ladder and become a Level 4 “professional” investor who has built and now manages a true investment business.
A Level 4 investors’ property investment business has a substantial asset base that generates sufficient recurring passive income to pay for their lifestyle costs. They keep growing their investment portfolio whether or not they work in a real job.
These professional investors don’t hand control of their investments over to others; they retain control whilst employing a proficient team: accountants, finance brokers, property managers, solicitors, and property strategists who have great systems that achieve repeated and consistent results, which are reliable and predictable.
This gives Level 4 investors the freedom to choose whether they get up in the morning and go to work or not.
Asset Growth first, then income stage
It’s important to understand that the first stage in becoming financially free is to educate yourself; the next stage is that of asset accumulation – your job as a Level 3 investor is to build a sufficiently large asset base to fuel your “cash machine”.
Then, only when you have grown a substantial asset base, do you transition into the cash flow (income) stage of your life as a level 4 investor.
What is your Level of Wealth?
Now it’s time for some home truths. How far up the Wealth Pyramid are you? Where do you currently sit in this hierarchy of investors?
Everyone starts at the bottom – at Level 0 – but not everyone makes it to Level 4. In fact, few do.
But you can once you understand why the rich keep getting richer.
What I want you to understand is that the “active” income you make (the pay packet you work for every day) has nothing to do with what level of investor you are and in fact is one of the worst predictors of wealth.
One great thing about freedom is the freedom to choose to live the life you want to live.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a heap of eBooks and reports here: - www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Savers tend to be afraid of financial matters. They’re generally unwilling to take risks.” – Michael Yardney
“You’ve got to go through the various stages to become financially independent.” – Michael Yardney
“Continue to work more on yourself than you do on your job so you become more valuable to your employer, which will help you earn more and also help you as an investor.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 17 Jan 2024 - 35min - 628 - Do you understand the 5 levels of investing? | Summer Series
In today’s show, I want to discuss with you the five levels of investing, a framework that I have created to help you understand where you are on your journey and to help you make sure you reach the top level as a successful investor.
Then I’m going to share some interesting information with you about the tsunami of wealth Baby Boomers are expected to leave their children.
Do you understand the Five Levels of Investing?
If you want to become a successful property investor, you really need to understand the five levels of investing. I’ve created a model to explain the progression most investors take in their path to developing financial freedom.
Level 0 – The Spender
Level 0 are really not investors – they tend to be spenders and borrowers and as a result, end up with a high level of debt.
A large part of our adult population falls into this category and they will never become wealthy unless they do something radically different.
Level 1 – The Saver
Most people who are not spenders will generally be what I call savers.
Their main investment is their home, which they aim to pay off over time.
Sometimes they save a little, squirreling away a few dollars of what’s left over after paying tax but in general, they save to consume, not to invest.
They will get the most leverage by investing in themselves and getting a quality financial education and beginning to build a network of peers whom they can make the journey with.
Level 2 – The Passive Investor
Level 2 investors have become aware of the need to invest.
They realize their superannuation won’t get them through retirement, so they learn about investment and accumulate assets.
While they are generally intelligent people, they are still what I would call financially illiterate – they don’t really understand the rules of money.
They must unlearn the flawed, incorrect, and misguided lessons they have learned about money and wealth from unqualified teachers.
Level 3 –The Active Investor
Level 3 investors realize that they must take responsibility for their financial future and become actively involved in their investment decisions.
They become financially literate by building a knowledge base of investment strategies and techniques.
Level 3 investors usually leverage the time and expertise of a network of industry professionals as they realize that they can’t do it all themselves.
They also upgrade their network of advisors and peers, often joining a Mastermind group of like-minded people.
Level 4 – The Professional Investor
A very small group of investors move to the top rung of the ladder and become a Level 4 “professional” investor who has built and now manages a true investment business.
A Level 4 investors’ property investment business has a substantial asset base that generates sufficient recurring passive income to pay for their lifestyle costs. They keep growing their investment portfolio whether or not they work in a real job.
These professional investors don’t hand control of their investments over to others; they retain control whilst employing a proficient team: accountants, finance brokers, property managers, solicitors, and property strategists who have great systems that achieve repeated and consistent results, which are reliable and predictable.
This gives Level 4 investors the freedom to choose whether they get up in the morning and go to work or not.
Asset Growth first, then income stage
It’s important to understand that the first stage in becoming financially free is to educate yourself; the next stage is that of asset accumulation – your job as a Level 3 investor is to build a sufficiently large asset base to fuel your “cash machine”.
Then, only when you have grown a substantial asset base, do you transition into the cash flow (income) stage of your life as a level 4 investor.
What is your Level of Wealth?
Now it’s time for some home truths. How far up the Wealth Pyramid are you? Where do you currently sit in this hierarchy of investors?
Everyone starts at the bottom – at Level 0 – but not everyone makes it to Level 4. In fact, few do.
But you can once you understand why the rich keep getting richer.
What I want you to understand is that the “active” income you make (the pay packet you work for every day) has nothing to do with what level of investor you are and in fact is one of the worst predictors of wealth.
One great thing about freedom is the freedom to choose to live the life you want to live.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a heap of eBooks and reports here: - www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Savers tend to be afraid of financial matters. They’re generally unwilling to take risks.” – Michael Yardney
“You’ve got to go through the various stages to become financially independent.” – Michael Yardney
“Continue to work more on yourself than you do on your job so you become more valuable to your employer, which will help you earn more and also help you as an investor.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 17 Jan 2024 - 35min - 627 - What no one ever told you about being a successful investor, with Mark Creedon | Summer Series
Are you hoping to be a better investor, businessperson, or entrepreneur?
Well, today’s show is for you because we discussed the concept of behavioural finance, which is the study of the effects of psychology on investors and financial markets.
But don’t worry, it’s not woo-woo stuff, and it’s not technical. Instead, I share several quotes from my favourite author, Morgan Housel, and Mark Creedon and I will try and explain why investors often appear to lack self-control, act against their own best interest, and make decisions based on personal biases instead of facts.
Whether you’re a beginning investor or well down the track in your investment journey, I’m sure today’s show will give you some insights, as you’re probably twice as biased as you think, and if you don’t think this applies to you, you’re probably four times as biased as you think.
Want to become better with your finances?
Well, you could do a lot worse than learning from my favourite author, Morgan Housel, author of the Psychology of Money.
His book The Psychology of Money shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.
And today, I’d like to discuss several of Morgan Housel’s quotes with Mark Creedon, founder and CEO of Metropole’s Business Accelerator Mastermind.
Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.
● Doing well with money has little to do with how smart you are and a lot to do with how you behave.
● Money―investing, personal finance, and business decisions―is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world, people don’t make financial decisions on a spreadsheet.
● Emotions can override any level of intelligence.
Morgan Housel Quotes
“Be careful when reading about how stupid investors can be and not realize you're reading about yourself.”
“The problem with economic forecasting is that the things you can predict tend to not matter, and the things you can't predict make all the difference in the world.”
“Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.”
“Getting rich and staying rich are different things that require different skills.”
“Most financial mistakes come when you try to force things to happen faster than is required. Compounding doesn’t like when you try to use a cheat code.”
“Imagine how much stuff you'd have to make up if you were forced to talk 24/7. Remember this when watching financial news on TV.”
● Investors were probably better informed 20 years ago when there was 90% less financial news.
● Predictions, opinions, and forecasts should be discounted by the number of times the person making them is on TV each week.
● The more you want something to be true, the more likely you are to believe a story that overestimates the odds of it being true.
“The market is rational, but investors play different games, and those games look irrational to people playing a different game.”
● A lot of financial debates are just people with different time horizons talking over each other.
● Beware of taking financial cues from people playing a different game than you are.
● Everyone is making a bet on an unknown future. It’s only called speculation when you disagree with someone else’s bet.
“When things are going extremely well, realize it’s not as good as you think. You are not invincible, and if you acknowledge that luck brought you success, then you have to believe in luck’s cousin, risk, which can turn your story around just as quickly.”
“Controlling your time is the highest dividend money pays.”
“No one is impressed with your possessions as much as you are.”
● Don't attempt to keep up with the Joneses without realizing the Joneses aren't any happier than you are.
“Read last year's market predictions, and you'll never again take this year's predictions seriously.”
● A big takeaway from economic history is that the past wasn’t as good as you remember, the present isn’t as bad as you think, and the future will be better than you anticipate.
“You're twice as biased as you think you are (four times if you disagree with that statement).”
“Tell people what they want to hear, and you can be wrong indefinitely without penalty.”
“You're twice as biased as you think you are (four times if you disagree with that statement).”
“Risk management is less about how you respond to risk and more about recognizing how many things can go wrong before they actually do.”
“If you have an idea but think “someone has already done that,” just remember there are 1,010 published biographies of Winston Churchill.”
● Just because someone else has done it before, that’s not a reason not to do it. If anything, it means that you can do it too.
More people wake up every morning wanting to solve problems than wake up looking to cause harm. But people who cause harm get the most attention. So slow progress amid a drumbeat of bad news is the normal state of affairs.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs.
Get a copy of Mark’s new book here – Have a Business not a Job
Join us at Wealth Retreat 2023 on the Gold Coast in 2023– express your interest here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
“We all think we know how the world works because we’ve only experienced a tiny sliver of it, so, therefore, we put our thoughts, our emphasis, our bias on this.” – Michael Yardney
“Past success can’t be relied on. You can’t repeat that indefinitely.” – Michael Yardney
“Don’t judge your chapter one or two by my chapter 30 or 40.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 15 Jan 2024 - 42min - 626 - Our no-nonsense Big Picture Podcast about the economy and property markets, with Pete Wargent
As the Australian property market continues to defy expectations, financial analyst Pete Wargent joins me to unravel the complexities of its current landscape.
Being the first Big Picture Podcast for the new year, I want to look at the clues in the news for what’s ahead for our economy and our housing markets in 2024.
Insights into Australia's 2024 Property Sector and Economic Trajectory
In this episode, Pete Wargent and I discuss:
● How forecasts of housing market declines in early 2023 proved wrong and investors were wise to ignore them
● Supply and demand will continue to drive property markets in 2024 with shortages persisting
● Interest rate hikes had a limited impact on property markets in 2023 and rates are now expected to peak and start falling
● Inflation is cooling in Australia and overseas which is positive for interest rates medium-term
● The economy is slowing which reduces the chance of more rate hikes while also lowering the risks of cuts happening too fast
● Population growth has surged to the highest levels since the 1950s, fueling massive demand for housing
● The construction industry is in crisis and unable to deliver anywhere near the dwellings required
● Foreign investment has fallen but build-to-rent may attract some overseas capital
● Consumer confidence should rebound in 2024 as economic stability returns post-rate hikes
● Clarity that interest rates have peaked will be a positive psychological shift for buyers and investors
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Join as at Wealth Retreat 2024 – www.WealthRetreat.com.au
Some of our favorite quotes from the show:
“There's an under-supply of properties and various estimates that already we're starting with 100,000 - 120,000 under-supply of dwellings and we're just not keeping up. So our markets are going to be under-supplied for years to come. – Michael Yardney
“But the big thing that changed towards the end of 2023 is that the Federal Reserve finally has just pivoted and it was pretty clear cut. They're basically done with hiking interest rates.” – Michael Yardney
“If you cared at all, you're going to get some results. If you care enough, you're going to get incredible results.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Fri, 12 Jan 2024 - 45min - 625 - What makes an investment-grade location? With Brett Warren | Summer Series
Location, Location, Location!
In today’s podcast, we’re going to dive deep into the world of property investment and explore the importance of location in achieving long-term success. And more importantly, what makes an investment-grade location.
Joining me today is Brett Warren, National Director of Metropole Property Strategists, to share his expertise and insights into what makes a great location for investment.
Whether you're a seasoned property investor or just starting out, today’s podcast will provide you with valuable insights and practical tips to help you make informed decisions and achieve your investment goals in our changing property markets which are very fragmented.
What to look for in an investment-grade location
Location, location, location!
I’m sure you’ve heard about the importance of location.
In fact, you've probably heard me say that the location of your property will do around 80% of the heavy lifting of its capital growth.
But what makes a great location for investment? That’s the topic I’d like to discuss today with Brett Warren National Director of Metropole Property Strategists.
Factors that make an investment-grade location
There are many factors to take into account when looking for your next investment property, but if you do your research to find an investment-grade location, you’ll be well on the way to making a good investment decision.
- Demographics
The first factor to consider when choosing an investment-grade location is the demographics. At Metropole, we look for areas where resident incomes are growing faster than the state average.
- Supply and demand
While a lot of people suggest population growth is a key driver of demand for property, it is important to look at the supply side of the equation. We like to invest in areas with a limited new supply of land or dwellings. That’s why we like to invest in the inner and middle-ring suburbs of capital cities.
- Employment opportunities
Employment opportunities are also a significant representative of a suburb’s investment value. If an area has a diverse range of employment opportunities nearby, it is more likely to attract and retain a population of working professionals and families, and this will maintain property values.
- Infrastructure and amenities
The availability of infrastructure and amenities is another important factor contributing to what makes a location “investment-grade.”
Infrastructure refers to the basic services and facilities that support the local community, such as roads, public transport, and hospitals. Amenities, on the other hand, refer to the recreational and cultural facilities that enhance the quality of life in the area, such as parks, restaurants, and entertainment venues.
- Walkability
Investment-grade locations with easy access to shops and lifestyle precincts with high walkability will remain in high demand moving forward and have already seen more than 36% growth over the past 5 years.
Beauty, amenities, services, and walkability are all key factors that help set a high-value investment-grade suburb apart from the rest.
- Gentrification
Gentrification is a process where a neighbourhood or an area is improved and redeveloped, leading to an increase in property values and slow displacement of older long-term residents due to rising housing costs. This process often starts with the influx of middle or upper-class residents, new businesses, and amenities, which attract further investment and development.
Gentrification is a positive factor for property investment because it brings economic benefits and improvements to an area which in turn creates more demand and therefore attracts higher prices for local properties.
- Attractive neighbourhoods character
Another factor to consider for an investment-grade location is those neighbourhoods that have undergone gentrification and now have an attractive neighbourhoods character.
This adds value to the neighbourhood and results in higher local property values because people are willing to pay a premium to live in attractive areas.
- Low crime rate
Areas with a low crime rate are far more desirable to live in than those with a higher crime rate - people are willing to pay more to live in a safe suburb where you can live without fear of crime on your doorstep and this higher demand helps to support property prices.
What are the different types of locations?
Not all real estate locations are equal and just like there are different precincts on the Monopoly board, there are basically 4 types of locations where you could buy properties in the real world, and some are much more worthwhile than others.
- Discretionary locations
These are the most expensive locations in our capital cities – the “established money” locations where most of the residents have lived for a long time and where many residents have paid off their home loans years ago.
- Aspirational locations
These are the upper-middle-class areas and gentrifying locations of our big cities which would also be considered A-grade suburbs.
- Affordable locations
This is where most homeowners and many investors look because that’s where they can afford to buy. However, sometimes investors buy in these suburbs because they are “advised” to buy at the cheaper end of the market.
As an investor I would steer clear of these affordable locations – most of these will never gentrify in your lifetime and they will underperform with regard to rental growth and capital growth.
- Last choice locations
In every city, there are suburbs where people live because they really have no choice. No one wakes up in the morning wanting to live in these suburbs, but social circumstances force them to.
Of course, investors should steer clear of these locations.
A final note…
Remember that the location isn’t the only thing to consider. Owning the right property in that location is just as important.
So be careful … don’t get stuck with an underperforming property in the wrong segment of the housing market, because if history repeats itself, and it most likely will, you could end up with a dud property that you will regret owning and have difficulty selling if you need to.
Links and Resources
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“Your future income’s going to be dependent on your tenant’s ability to pay rent, and higher rents over time.” Michael Yardney
“There are jobs and there are jobs. And again, it’s not a judge of people, but Australia is becoming a knowledge-based society. People in the higher skill levels get paid a lot more.” – Michael Yardney
“I’d rather own a family-friendly apartment, or a townhouse, in a good location than a house and land in a poorer location.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 10 Jan 2024 - 42min - 624 - Is property investing an art or science? With Brett Warren, Summer Series
Our property markets are changing, and we’ve now moved into the adjustment phase of the cycle where there will be less capital growth and where, in many locations, property values are falling.
So, what should a property investor do?
Well, in today's show with Brett Warren, national director of Metropole Property Strategists, we talk about whether property investing is an art or a science, which you'll need to understand if you want to be successful in these more challenging times.
And I share some major structural shifts that created property booms in the past and what I believe the next one is going to be.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: Is property investing an art or science? With Brett Warren, Summer Series
Mon, 08 Jan 2024 - 41min - 623 - Building Wealth Through Property: Mindsets and Habits of a Veteran Property Mentor
It's the time of the year when many of us are looking back at 2023 to see what's ahead for our housing markets in 2024.
I was recently interviewed by Aaron Christie-David of Atelier Wealth for his Australian Property Investment Podcast. We had such a great discussion I asked Aaron if I could replay this episode for you, followers of the Michael Yardney podcast.
In this replay, you’ll hear my analysis of the Australian property market's performance in 2023 as well as educated predictions for 2024.
Our discussion spans a variety of topics including the resilience of the market amidst rising interest rates, the increasing trend towards higher-density living, and the impact of government policy on homeownership. We also examine the urban infrastructure challenges posed by rapid population growth and consider innovative solutions to accommodate the demand for housing.
Whether you’re a new or seasoned investor, listening to this episode will help you gain valuable insights and strategies for property investment, underlining the importance of a proactive approach and the right mindset for success in the ever-evolving landscape of real estate investment.
Market Mastery: Unpacking Australia's Real Estate Trends
In our conversation today, we explore the complexities of the Australian property market, discussing trends from the previous year and making predictions for the future. Our discussion spans a variety of topics, including the resilience of the market amid economic changes, the role of government policy, demographic shifts, and the challenges of urban infrastructure.
● How 2023 went for Metropole
● The dynamic Australian property market of 2023 and its resilience despite interest rate hikes
● The government's influence on homeownership trends and the shift toward high-density living
● The property market's surprising buoyancy and the role of cash-rich buyers in driving demand
● Market indicators such as consumer confidence, auction clearance rates, and active bidders
● Housing affordability and the localized rise in property values
● Urban infrastructure challenges due to population growth and innovative housing solutions
● Insights from an interview with Leilani Burra on demographic trends and the need for new homes
● The importance of mindset and strategies for long-term success in property investment
● Avoiding common pitfalls and the value of mentorship and professional guidance
Whether you're a seasoned investor or just starting out, the insights and discussions in this podcast will equip you with the knowledge and foresight needed to navigate the property landscape with confidence. It's a treasure trove of information that underscores the multifaceted nature of real estate investment and the various factors that contribute to success in this field.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Aaron Christie-David - Atelier Wealth
Listen to the original Podcast here – The Australian Property Investment Podcast
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“One of the big, big changes at the beginning of this year is I stepped back from being CEO. I founded the company Metropole Properties in 1979, but we've been working with clients for almost 25 years now and I decided to step back and enjoy those things we're talking about.” – Michael Yardney
“I'd rather bring people up through education, through better jobs, through more skills, through good incentives from the government to allow them to buy their homes as well.” – Michael Yardney
“Usually, I've found that people who have had luck actually need to have the hubris, the ego, kicked out of them by the world doing it.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Fri, 05 Jan 2024 - 52min - 622 - Do you understand the Demographic Tribes and how they influence our property markets With Simon Kuestenmacher, Summer Series
We all belong to one - a demographic tribe, that is.
In fact, Australia is one big country of many tribes. If you don't belong to the one, you don't survive.
Some are easy to find: it might be your footy team or where you work, the way you vote, or the way you dress.
But there’s another set of tribes that are of interest to property investors and businesspeople - the tribes and labels that demographers divide us into.
Now I’m sure you’ve heard of Baby Boomers and Millennials, but have you heard of FIFOs or VESPAs, or the YOLO tribe? And do you know what they mean and how understanding the demographic tribes can help you target your investments or business decisions?
That's what I'm going to discuss in today’s show with leading demographer Simon Kuestenmacher.
Links and Resources
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher - Director of The Demographics Group
Join us at Wealth Retreat 2024 – click here to find out more
Shownotes plus more here: Do you understand the Demographic Tribes and how they influence our property markets With Simon Kuestenmacher, Summer Series
Wed, 03 Jan 2024 - 44min - 621 - How do you choose a property advisor or a buyers’ agent, with Brett Warren, Summer Series
Are you looking at getting investment advice this year?
How do you know who to ask?
How do you know who to choose how to choose a property advisor, how do you know how to choose a buyers’ agent?
These are some of the questions we answer in today's Q&A episode the first in the summer series of the Michael Yardley podcast.
Whether you are just starting out and looking for guidance, or you have been investing for a while and want to take your skills to the next level, this week’s podcast is for you.
Links and Resources
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Join us at Wealth Retreat 2023 – click here to find out more.
Shownotes plus more here: How do you choose a property advisor or a buyers’ agent, with Brett Warren, Summer Series
Mon, 01 Jan 2024 - 34min - 620 - Property Investing: Separating the Experts from the Lucky Idiots
Today I’d like to share 2 interesting topics with you.
The concept for the first part of my chat came about from an email I received from a client who is confused.
She was wondering in a market that's buzzing with self-proclaimed property investment gurus, how do you differentiate between genuine expertise and fortuitous luck?
We live in an era where overnight success stories often mask the hard realities of investing and understanding these nuances could be the difference between sustainable success and an unfortunate mishap.
Regular listeners would know that I usually have guests on this show, but every now and then I like to have a chat, just you and me, where I can share my thoughts and that's what's going to happen today as I'd like to give you my perspective on these overnight property millionaires.
And then I’m going to share quite a long mindset message, but I believe a really important one.
If you want to stand out from the crowd and be a successful property investor, or a successful entrepreneur, then this session will be for you, but please be warned it's a little heavy.
And before you think Michael's gone all metaphysical on me, please persist and listen to my thoughts because if I thought i could help you be more successful by showing the next property hotspot or another finance trick that’s what I would discuss- instead I'm going to let you into the secret of how you can get more success by changing.
Changing what you may be think – listen in and you’ll find out.
The Mirage of Overnight Property Millionaires
Success and wealth creation take time. Drawing from the wisdom of renowned investing titans and underlining the significance of a shift in mindset, I’ll share the psychology of wealth and success and explore the role of sound advice in property investment.
● Exploring the rise of self-proclaimed property investment experts and their potential pitfalls
● The danger of attributing too much value to one success story
● The four most dangerous words in investment
● How to recognize when you’re an expert
o The ability to achieve continuous, repeatable results in different markets
● The value of making detailed plans
o How Metropole can help.
Mindset Message: What Holds Australians Back from Wealth Creation
I discuss:
● Shifting perspectives on wealth creation and the significance of your "wealth operating system"
● How childhood programming and restrictive beliefs can be obstacles in wealth creation
● The psychology of wealth and success, and how unconscious beliefs shape our relationship with money
● The invitation to join us Wealth Retreat 2024 for a deeper exploration into successful property investment and development
● The importance of sound advice in property investment and the dangers of relying on luck
● Emphasizing the necessity of a clear strategy in property investment
● The significance of adapting to change for successful wealth creation.
It’s important to learn differentiate between skill and luck and identify the role of mindset and the value of sound advice and strategy in wealth creation. This will equip you with the tools you need to navigate the complex world of property investment and realize your wealth potential.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Join us at Wealth Retreat 2024
Some of our favorite quotes from the show:
“I explained to her that this new breed of get-rich-quick experts are really just selling tickets to see unicorns because there's no secrets to getting rich quickly.” – Michael Yardney
“I guess planning is bringing your future into the present, so you can do something about it now.” –Michael Yardney
“Now I know you may be uncomfortable with me saying this, but the level of wealth you're experiencing at the moment is the level of wealth you're most comfortable with.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Fri, 29 Dec 2023 - 33min - 619 - Financial Fumbles: The Top 9 SMSF Mistakes You Could be Making, with Ken Raiss
If you're most like most listeners of this podcast, you're looking to secure your financial future.
I was interested to recently read that Australians think they need $650,000 in their superannuation to have a comfortable retirement.
By the way, this would only give him $33,397 annual income - to me that's not a comfortable retirement and most Australians don’t even have this in their super anyway.
I guess that's why more and more Australians are taking control of their financial future and setting up a self-managed super fund, but even that's not a guarantee of financial success.
In today’s discussion, you'll get a chance to uncover the mysteries surrounding self-managed super funds.
Ken Raiss, director of Metropole Wealth Advisory, and I talk about 9 common mistakes people make with their self-managed super funds.
Whether you already own a super fund or are contemplating getting one, this discussion is tailored to serve you some pearls of wisdom that you wouldn't want to miss.
Links and Resources:
Ken Raiss, director of Metropole Wealth Advisory
Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here
Why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here
Get your bundle of E-books and resources as my gift for subscribing to this podcast www.PodcastBonus.com.au
Shownotes plus more here: Financial Fumbles: The Top 9 SMSF Mistakes You Could be Making, with Ken Raiss
Wed, 27 Dec 2023 - 42min - 618 - What do rental yields really tell you about a property? With Stuart Weymss
In today’s episode of the Michael Yardney Podcast, I’m joined by independent financial advisor Stuart Wemyss, and we tackle the great debate in property investment - the significance of rental yields versus capital growth.
Stuart's insights, backed by years of experience and knowledge of Australia's property market, guide us through this complex topic.
We uncover what rental yields can reveal about a property's potential, debunk misconceptions about 'blue chip' suburbs, and emphasize the importance of strategic planning and a long-term approach.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart Wemyss’ blog mentioned in this show
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: What do rental yields really tell you about a property? With Stuart Weymss
Mon, 25 Dec 2023 - 32min - 617 - Here’s what Einstein can teach you about property investing.
Property investment is certainly not rocket science and while you don’t have to be a genius to succeed in real estate, it never hurts to learn from great minds when trying to achieve great things.
Renowned for his Theory of Relativity, Albert Einstein's wisdom extends beyond the realm of physics.
On today’s episode, I explored how his teachings can be applied to property investment and financial literacy.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Here’s what Einstein can teach you about property investing.
Wed, 20 Dec 2023 - 30min - 616 - Who makes better investors- men or women?
Have you ever considered that women might just be better property investors than men? This episode reveals some fascinating insights into how gender impacts decision-making in property investment.
We also delve into the age-old question of whether money can buy happiness and explore the transformative power of good habits in achieving financial success.
I’m joined today by Tom Corley, author of the best-selling book, Rich Habits, Poor Habits, and in our discussion, we share powerful strategies for habit change.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Shownotes plus more here: Who makes better investors- men or women?
Mon, 18 Dec 2023 - 36min - 615 - 5 things all property investors must understand about Australia’s housing Markets in 2024, with Dr. Nicola Powell
What’s ahead for our property markets in 2024? That’s what I’m going to be discussing today with Dr. Nicola Powell, Domain’s Chief of Research and Economics.
2023 will go down in history as the year that a new property cycle began as our markets defied high interest rates and all the predictions from the property pessimists.
But what’s coming next in 2024?
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr Nicola Powell, Domain’s Chief of Research and Economics
Domain’s End of Year Wrap and Forecasts
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: 5 things all property investors must understand about Australia’s housing Markets in 2024, with Dr. Nicola Powell
Wed, 13 Dec 2023 - 34min - 614 - Wisdom That Comes With Time: 33 Lessons Learned with Mark Creedon
Today, I am joined by Mark Creedon, business coach and mentor to some of Australia’s leading business people and CEO of the Metropole Property Group.
Today, our discussion is centred around a fascinating list shared by Vala Afshar on Twitter – a collection of insights that reflect the wisdom one hopes to accumulate with time.
Together, Mark and I discuss the concept of success, we talk about creating your own luck, remaining forward-focused, and leading by example.
These are principles that will resonate with you as a player in the property market and as individuals committed to the pursuit of success.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Wisdom That Comes With Time: 33 Lessons Learned with Mark Creedon
Mon, 11 Dec 2023 - 35min - 613 - 11 traits shared by the most successful property investors, with Brett Warren
Ever wondered why some property investors hit the jackpot while others barely scrape by?
Well in today’s show Brett Warren, and I shed light on strategies and philosophies that make a successful property investor.
We reveal that the high-achievers do not come from a cookie-cutter background, but instead, a wide array of life stories and income levels.
It's less about the size of your paycheck and more about financial discipline, so tune in to learn how to supercharge your property investment journey.
The Blueprint of Successful Property Investing
In my chat with Brett Warren, we explore the essential traits that set high-achieving investors apart. These key qualities can offer a roadmap to those looking to supercharge their property investment journey.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: 11 traits shared by the most successful property investors, with Brett Warren
Wed, 06 Dec 2023 - 35min - 612 - Have you considered setting up a third Super Fund? With Stuart Wemyss
We tend to talk a lot about property on this Podcast, but the aim of property investment is to give you the financial freedom that leads to Iife choices
The truth is that your superannuation balance is unlikely to be sufficient to cover your desired living expenses in retirement, and it's possible that by the time you choose to retire, the government will have changed the superannuation laws.
Today, I discuss superannuation funds with independent financial adviser Stuart Wemyss, director of Prosolution Private Clients, including the possibility of an additional stream of income that he calls a third super fund.
So prepare to ease your retirement fears, as we dive into the nuances of a third super fund and navigate the shifting government rules around superannuation.
We'll also examine what you might need to maintain your living standards in retirement, and the average super balance you should aim for at retirement.
As Stuart and I discuss today, your financial freedom in retirement may depend on thinking beyond the traditional super fund.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: Have you considered setting up a third Super Fund? With Stuart Wemyss
Mon, 04 Dec 2023 - 35min - 611 - Building Wealth: Ken Raiss Unveils Optimal Structures for Property Development and Business Growth
In today’s show Ken Raiss and I are talking about ownership structures.
How you set things up can have lasting impacts on not only your asset protection but also your tax liabilities and your flexibility to grow in the future.
And in particular the various ownership structures available for those interested in property development and in particular successful business ownership structures,
Today’s topic might not be the most glamorous but is unequivocally crucial for anyone invested in property investment or running a business.
Get ready to harness the power of well-thought-out structures, learn how they can shield your assets, reduce tax liabilities, and pave the way for prolific growth.
Links and Resources:
Ken Raiss, director of Metropole Wealth Advisory
Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here
Why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here
Get your bundle of E-books and resources as my gift for subscribing to this podcast www.PodcastBonus.com.au
Shownotes plus more here: Building Wealth: Ken Raiss Unveils Optimal Structures for Property Development and Business Growth
Wed, 29 Nov 2023 - 40min - 610 - An Insider’s Guide to Property Investing, Felicity and Candice from “Talk Money To Me Podcast” grill Michael Yardney
Today's episode is something a little different but it’s a special one. I recently had the privilege of joining Felicity and Candice from the "Talk Money to Me" podcast and it was a fantastic conversation. Today I’m going to replay that interview for you.
In our chat, I dive deep into the current state of the property market and given the challenges many property investors are facing now, hopefully, by answering Candice and Felicity’s questions, I’ll also be answering some of your questions.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Felicity Thomas and Candice Bourke are Senior Private Wealth Advisers at Shaw and Partners Check out their range of services here
Follow their Talk Money to Me Podcast here
Shownotes plus more here: An Insider’s Guide to Property Investing, Felicity and Candice from “Talk Money To Me Podcast” grill Michael Yardney
Mon, 27 Nov 2023 - 1h 04min - 609 - Our no-nonsense Big Picture Podcast about the economy and property markets with Pete Wargent
Welcome to this month’s Big Picture episode of the Michael Yardney Podcast, where Pete Wargent and I dissect the multitude of macro-economic factors currently shaping our housing markets and the broader economy.
We analyze the recent interest rate hike by the Reserve Bank and dissect its ramifications on the housing markets and the broader economic landscape in Australia against the backdrop of the global economic squeeze created by two major wars.
Whether you're an investor, a homeowner, or just a curious mind, this monthly deep dive promises to keep you informed and ahead of the curve.
We’ll also explore future trends in the property market, considering factors like population growth, urban living allure, and the demand for medium-density dwellings. Pete and I also discuss the announcements from major banks and financial firms about bonuses linked to office attendance.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Shownotes plus more here: Our no-nonsense Big Picture Podcast about the economy and property markets with Pete Wargent
Wed, 22 Nov 2023 - 36min - 608 - The Future of Australian Cities: how 7.4 million Australians will reshape our urban future with Lailani Burra
If you've ever wondered about the future of our housing markets and the prospects for property investment in Australia, or you're curious about how post-pandemic life is going to shape our cities, then today's episode is one you cannot afford to miss.
I’m joined by Lailani Burra, CEO of. Id, who offers an eye-opening perspective on Australia's future property investment, urban planning, and lifestyle in the next 25 years.
Lailani’s team has just dropped a bombshell of a report that's going to shake up how we think about investing, living, and planning for the next 25 years.
We're talking 7.4 million more Australians, two million new homes, and a seismic shift back to urban living—all by 2041.
Her report gives us the inside track on how Australia’s future will unfold. Get ready to take a deep dive into what Australia will look like for decades to come.
Links and Resources:
Lailani Burra- CEO .id Informed Decisions
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get your free eBooks and reports at: www.PodcastBonus.com.au
Shownotes plus more here: The Future of Australian Cities: how 7.4 million Australians will reshape our urban future with Lailani Burra
Mon, 20 Nov 2023 - 35min - 607 - How should rising construction costs impact your property investment decisions? With Stuart Wemyss
A property’s value is typically divided into two components: the land value and the value of any improvements, such as the dwelling.
Conventionally, land tends to appreciate over time, while buildings are said to depreciate as they get older and suffer more wear and tear.
However, the rise in construction costs poses an interesting question: what impact do rising construction costs have?
In today’s episode, Stuart Wemyss and I discuss the ramifications of soaring construction costs on property investment. We cover the challenging landscape of the property market, focusing on aspects like renovations, investment locations, and the power of a positive mindset.
From analyzing historical trends of construction costs outpacing inflation to discussing strategies for creating intergenerational wealth, Stuart’s insights provide an in-depth exploration of property investment in the face of rising construction costs.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: How should rising construction costs impact your property investment decisions? With Stuart Wemyss
Wed, 15 Nov 2023 - 32min - 606 - A Builder’s take on the Do's and Don'ts of property renovations & townhouse developments. With Greg Hankinson
Have you wondered how you could turn your passive property investments into a thriving, active portfolio?
Most property investors adopt a buy-and-hold approach, but some are looking to become more active and get involved in property renovations or small developments.
In today’s I’m chatting with Greg Hankinson, director of Metropole Constructions, a seasoned player in the construction industry, who has over a thousand property renovations and 300 homes to his credit.
Greg offers his insights into the world of property renovations and development and shares his expertise on adding value to investments, the potential risks, and the benefits of investing in property renovations.
Whether you're an experienced investor or just starting out, this episode will give you some insights into becoming a more active property investor.
Links and Resources:
Why not chat with Greg Hankinson – Director Metropole Constructions – please leave your details here
Get the team at Metropole to help build you become an armchair property developer – find out more here.
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: A Builder’s take on the Do’s and Don’ts of property renovations & townhouse developments. With Greg Hankinson
Mon, 13 Nov 2023 - 52min - 605 - Reshaping Australian Cities for a Sustainable Future with Simon Kuestenmacher
It’s taken 200 years for Australia to reach the size we know today.
Will we double that in just 60 years? It’s hard to imagine, but in this podcast episode, demographic expert Simon Kuenstenmacher explores Australia's possible population doubling in the next six decades and the impact on cities and property demand.
In our chat today, we talk about the future of Australian cities, the importance of medium-density housing, and investment in Australia's changing property market.
Is this growth sustainable? How do we keep our lifestyle standards in the face of these changes?
And if you're interested in property investment these trends will be essential for you to understand.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher - Director of The Demographics Group
Shownotes plus ore here: Reshaping Australian Cities for a Sustainable Future with Simon Kuestenmacher
Wed, 08 Nov 2023 - 38min - 604 - MythBusters: Debunking 19 Investment Myths You Thought Were True with Brett Warren
While many Australians are keen to invest in property to secure their financial future, the statistics clearly show that most investors fail to achieve their goals. That may be because of the many market myths and misconceptions that mislead even seasoned investors.
In today’s show Brett Warren, the National Director of Metropole Property Strategists, and I will debunk 19 common misconceptions and myths about property investment.
By the end of the episode, you’ll have gained valuable insights into the Australian residential real estate market, strategic long-term planning, and the critical role of financial buffers.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: MythBusters: Debunking 19 Investment Myths You Thought Were True with Brett Warren
Mon, 06 Nov 2023 - 47min - 603 - Seth Godin's Wisdom: A Roadmap for Property Investors and Entrepreneurs with Mark Creedon
While you are probably here to learn about property investment, finance, or money, today I’ve got something a little different but exciting in store for you.
If you're an entrepreneur, investor, or anyone charting their path towards personal growth and success, this episode is an absolute must-listen.
You've probably heard the name Seth Godin—a best-selling author and a guy who genuinely understands the mechanics of personal and business success. In this episode, Mark Creedon and I will do an in-depth exploration of Seth Godin's 14 game-changing ideas.
One of the reasons Seth Godin's ideas resonate so well is that they challenge traditional thinking. They push us to question the status quo and consider how we can be not just different, but better—better investors, better businesspeople, better individuals.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Seth Godin’s Wisdom: A Roadmap for Property Investors and Entrepreneurs with Mark Creedon
Wed, 01 Nov 2023 - 35min - 602 - Mind over money - The Hidden Forces Behind Australia's Housing Markets
We've all heard about booms and busts, bubbles, and sudden market shifts.
But what if I told you that these aren't just random occurrences?
What if these market dynamics are a manifestation of our inherent psychological biases, fears, and desires?
What if the property market isn't a perfect, rational machine but a complex, living organism driven by the collective emotions of those who participate in it?
In this episode, we'll explore the fascinating intersection of psychology and economics.
Let’s unpack how our emotions, cognitive biases, and herd mentality can influence the property market, leading to irrational decisions and potential market overcorrection.
The Hidden Forces Behind Australia's Housing Markets
The interplay of human psychology, emotions, and inherent biases greatly influences the ebb and flow of the property market.
As we journey into the fascinating world of real estate investing, understanding these psychological underpinnings is vital in making informed and rational decisions.
Whether you're a seasoned investor or a first-time homeowner, this episode explores the intriguing connection between human behavior and real estate market dynamics.
In the realm of real estate investment, emotions such as fear, greed, overconfidence, and wishful thinking play a significant role. They influence the way we approach and respond to market trends, and often lead to market overcorrections and irrational decisions.
Property investing is not just about numbers and facts. It's also about understanding human emotions and behaviors and how they shape market dynamics.
By gaining insights into these psychological factors, you can navigate the property market more effectively, make rational decisions, and ultimately, turn market imperfections to your advantage.
● The interaction between psychology and economics in real estate markets
● The cycles of the property market and how long they last
● The psychological underpinnings of fear, greed, overconfidence, and wishful thinking in property market dynamics
● The perils of cognitive biases in property market investment
● The role of emotions, herd mentality, and inherent biases in irrational decision-making
● The importance of an independent property strategist in sticking to investment plans
● The emotional rollercoaster investors experience throughout the market cycle
● The imperfections in the property market, including unequal access to information, the unique nature of every property, and barriers to entering or exiting the market
● Insights on how to navigate market imperfections to spot overlooked opportunities
● Emphasis on the importance of maintaining a long-term perspective, diversification, and having an experienced team in successful property investment
The Cognitive Biases that Impact Investment Decisions:
● Confirmation Bias: Seeking information that confirms your existing beliefs.
● Recency Bias: Placing undue importance on recent events.
● Herd Behaviour: Follow the crowd; doing what everyone else is doing, particularly in times of uncertainty.
● Emotional Investing: Allowing emotions to play a crucial role in investment decisions rather than relying on rational analysis.
● Greed and Fear: Greed can drive investors to take on too much risk during a boom while fear can lead to overly conservative investment choices in a downturn.
● Overreaction: Markets tend to overreact to news and events, resulting in price fluctuations. Investors who are aware of this tendency can sometimes capitalize on these irrational movements.
By understanding the human emotional landscape and how it impacts real estate markets, listeners can equip themselves to make better investment decisions and take advantage of market imperfections.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Geta. copy of my best-selling book: How to grow a multimillion dollar property portfolio – in your spare time.
Some of our favorite quotes from the show:
“You see as individuals, we're not rational. Well, we're not rational when it comes to money and investing.” – Michael Yardney
“What I'm saying is that investors, in general, have cyclical emotions over the couple of years of the property cycle.” – Michael Yardney
“But on the other side of that challenge, on the other side of that difficulty, that's where the reward lives, and those that battle through the challenges get to reap the rewards.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Mon, 30 Oct 2023 - 32min - 601 - Unravelling Domain’s Latest Housing Reports: Insights from Dr. Nicola Powell
Australia's housing market continues to defy expectations.
Do you remember when commentators tried to scare us about mortgage stress, a fixed mortgage rate cliff, and even a recession?
Yet despite the challenges thrown at them, property values in our combined capitals have kept rising, even if they’ve slowed down over the last few months.
This resilience has sparked a shift towards a landlord's market with Australians moving house less often.
Today’s episode features Dr. Nicola Powell, Domain's Chief of Research in Economics, and our conversation will help prospective homebuyers, seasoned investors, and other curious listeners understand some interesting trends.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr Nicola Powell, Domain’s Chief of Research and Economics
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Unravelling Domain’s Latest Housing Reports: Insights from Dr. Nicola Powell
Wed, 25 Oct 2023 - 40min - 600 - Smarter, Not Harder: Advanced Tax Strategies for Savvy Investors with Ken Raiss
In today's question-and-answer episode, I’m joined by Ken Raiss, director of Metropole Wealth Advisory to answer questions posed by our listeners.
Together, we dive into the world of property investment and development, discussing the various financial and legal implications of property joint ventures and the benefits of setting up self-managed super funds.
Ken shares valuable advice on property investment structures, tax planning, and strategies to avoid costly mistakes.
Links and Resources:
Ken Raiss, director of Metropole Wealth Advisory
Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here
Why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here
Get your bundle of E-books and resources as my gift for subscribing to this podcast www.PodcastBonus.com.au
Shownotes plus more here: Smarter, Not Harder: Advanced Tax Strategies for Savvy Investors with Ken Raiss
Mon, 23 Oct 2023 - 46min - 599 - Confused about the economy and our property markets? Big Picture Podcast with Pete Wargent
Welcome to this month’s Big Picture episode of the Michael Yardney Podcast, where financial analyst
Pete Wargent and I dissect the macroeconomic factors currently shaping our housing markets and the broader economy.
Today we cover a broad spectrum of topics from the effects of policies and taxes on the real estate market to the state of distressed listings and the fears surrounding a 'mortgage cliff'.
Whether you're an investor, a homeowner, or just a curious mind, this monthly deep-dive promises to keep you informed and ahead of the curve.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Shownotes plus more here: Confused about the economy and our property markets? Big Picture Podcast with Pete Wargent
Wed, 18 Oct 2023 - 38min - 598 - The Silent Art of Negotiation: Understanding Body Language with Allan Pease
We're living in a world where words often fail us, where what's unspoken sometimes matters more than what's said.
In the intricate dance of business and negotiation, understanding body language can be an exceptional advantage.
It can help you read situations accurately, handle conflicts effectively, and build genuine relationships.
My guest today is Allan Pease, a globally recognized expert in body language, who has spent decades studying, analyzing, and teaching the delicate art of non-verbal communication.
Allan is not just an expert, he's a sought-after consultant, a best-selling author, and an engaging speaker who has transformed the lives of thousands by unlocking the secrets hidden in our gestures, expressions, and subtle movements.
Pease is renowned for decoding the secrets of body language and using it to gain a competitive edge in business negotiations, property deals, and personal relationships.
Imagine having the power to read situations accurately, manage conflicts, and navigate complex conversations - all through understanding non-verbal cues.
So, our chat today will be valuable for you not just in property negotiations but in business, in your job, and in your personal life. We're going to delve deep into the world of non-verbal cues, what they mean, and how you can use them to your advantage.
Understanding Body Language with Allan Pease
In our conversation, Alan provides a deep dive into the secrets of non-verbal communication, discussing the power of body language in different scenarios such as business, negotiations, and personal relationships.
He also highlights the impact of gender differences in communication and the shift in communication dynamics in the wake of the pandemic.
From discussing video call etiquette to the role of goal setting in achieving financial success, Alan’s practical advice will enrich your professional and personal life.
● How Alan got started in body language
● How understanding body language can provide a competitive edge in different situations, including
o Business deals
o Property negotiations
o Personal relationships
● Gender differences in communication and how they impact various situations
● Awareness of non-verbal cues, particularly in a digital age where face-to-face interaction is often replaced by video calls
● The impact of the pandemic on communication
● Video call etiquette and appropriate dressing in digital communication
o Where to keep your hands when you’re on video
o Practical tips on how to appear confident and convincing in video calls
● Importance of clear communication and goal setting for financial success
● The Reticular Activating System (RAS) and how it can help in achieving goals
● The importance of listening more and talking less to improve communication effectiveness
By understanding and mastering non-verbal communication, you can enhance your professional and personal life and set yourself on the path to success.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Allan & Barbara Pease’s Mastering Body Language Course
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“We are all different and that's good, and it's actually good that we're recognizing we're all different and equal in certain ways, but different, that's fine.” – Michael Yardney
“You're negotiating continuously with your wife, who takes out the rubbish at night, what TV show you're watching. You're negotiating continuously with your kids. You've got to do these chores before you do the homework.” – Michael Yardney
“You can't keep doing the things you've done before. You've got to learn, you've got to improve, you've got to grow every day.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Mon, 16 Oct 2023 - 43min - 597 - Investment Face-Off: Apartments vs. Houses, Who Wins in Today's Market? With Brett Warren
Is it better to invest in a house or an apartment?
That’s an age-old question, but not one easy to answer.
In fact, a few things have happened over the last few years that have caused investors to increasingly shy away from investing in apartments.
So today, I'm going to discuss this topic with Brett Warren, national director of Metropole, and even if you're not considering investing in an apartment, I hope our general discussion about what makes a good investment property and what to avoid will help you no matter where you are on your investment journey.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: Investment Face-Off: Apartments vs. Houses, Who Wins in Today’s Market? With Brett Warren
Wed, 11 Oct 2023 - 41min - 596 - What Australia Will Look Like in 40 Years & Why You Should Care, with Simon Kuestenmacher
What will Australia look like in 40 years’ time?
Treasurer Jim Chalmers handed down the latest Intergenerational Report a short while ago.
This report from the federal government predicts what the country will look like in 40 years and the state of the nation’s finances.
Today’s conversation with Simon Kuestenmacher revolves around the report, which predicts a population of around 41 million by 2063, with a significantly older demographic due to increased life expectancy.
Simon and I discuss what the report has to say about our future and whether or not to believe everything in it. Listen as we cover future trends in migration, technology and innovation, and mining.
Whether you're a property investor, business owner, or an employee, it’s important to understand what’s ahead for our country.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher – Director, The Demographics Group
Shownotes plus more here: What Australia Will Look Like in 40 Years & Why You Should Care, with Simon Kuestenmacher
Mon, 09 Oct 2023 - 35min - 595 - Banknotes and Bliss: Does Money Really Buy Happiness? With Mark Creedon
Does money really buy happiness?
Is there a clear relationship between money and happiness?
To shed light on this age-old question, today I have a chat with Mark Creedon, founder of Mastermind Business Accelerator and CEO of the Metropole Group to decipher the enigma of happiness, money, investment and success.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs.
Get a copy of Mark’s new book here – Have a Business not a Job.
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Banknotes and Bliss: Does Money Really Buy Happiness? With Mark Creedon
Wed, 04 Oct 2023 - 37min - 594 - Here’s how to avoid the 7 Deadly Habits that Prevent Wealth with Tom Corley
We often ponder the habits that pave the path to success and wealth.
But have you ever considered the habits that do the exact opposite?
What are the behaviours and patterns that lead to financial struggles and life dissatisfaction?
In this episode, I talk to wealth creation expert Tom Corley to help you avoid the 7 deadly habits that prevent you from becoming wealthy.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Shownotes plus more here: Here’s how to avoid the 7 Deadly Habits that Prevent Wealth with Tom Corley
Mon, 02 Oct 2023 - 33min - 593 - The Property Investor's Checklist with Brett Warren
Imagine you're standing on the doorstep of your next potential investment.
The façade looks great, and the price seems right, but what's lurking beneath?
What questions should you be asking to ensure this property doesn't just look good, but will also deliver the returns you're after?
Whether it's your first investment or your fiftieth, the right questions can mean the difference between a gold mine and a money pit.
In today’s podcast, Brett Warren and I will discuss the intricate world of property investment, underlining the importance of thorough research, financial planning, and maintaining a logical approach when investing in a property.
We also delve into the financial aspects of property investment, discussing cash flow, financing, and the importance of having a financial buffer.
Essential Tips and Strategies for Navigating Property Investment
Our discussion today covers the critical questions every property investor should answer before making a purchase, the importance of understanding location, and the significance of planning and financial preparedness.
The 10 Questions to Secure Property Investment Success
- Does this property fit into my long-term strategy?
- If you don’t have a plan in place, you’re not ready to buy your next investment property
- Not all properties make good investments. In my mind, less than 4% of the properties on the market currently are what I call “investment grade.”
- Even two houses, side by side in the same street, could be valued differently because of their individual attributes. To determine how much a property is worth you need to check all the recent comparable sales and the property’s intrinsic value and then also determine the following 3 figures:
i. What price do I want to pay for the property?
ii. What do I consider the market value to be?
iii. What price am I prepared to pay and when am I prepared to walk away?
- Where am I getting my data, information, facts, and figures from?
- It is very important to understand what has driven the data you’re using to make your decisions because not all data is reliable or meaningful.
- Finance is the leveraging tool to help you get into the property, and property will be the vehicle that will create your long-term wealth. So, it is important to have a finance strategy part of which is a finance pre-approval.
- Smart property investors use other people’s money in three ways:
i. The bank's money for leverage
ii. The tenant’s money for income
iii. The government's money for tax incentives
- Have I set up the right ownership structures?
- The right ownership structure will help you to minimize your tax, build your wealth, and manage your risk.
- Understanding cash flow can be the difference between a solid long-term investment and a costly mistake.
- When it comes to investing, however, letting your heart rule your buying decision is a huge no-no.
- The more prepared you are and the more planning you have done, the more protected your investment will be if your financial circumstances take a turn for the worse.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Not all tenants rent because they're poor. Remember your future income is going to be dependent upon your tenants' ability to keep paying higher rent over the years.” – Michael Yardney
“So actually, as an investor, you're using other people's money in three ways: the bank’s money for leverage, the tenant’s money to repay the mortgage , and the government’s money for deductions.” – Michael Yardney
“So, even though we help our clients plan, we tell them to plan for their plan not to go to plan, and that's not necessarily a play on words, but it means that we also look out for risks. – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 27 Sep 2023 - 45min - 592 - Why Australia’s rental crisis isn’t going anywhere, Plus Dr. Andrew Wilson’s solution
Australia’s rental market is in crisis.
Vacancy rates are at virtually all-time lows, rental stock remains slim, and rents are skyrocketing.
So how did we get into this rental crisis?
And how long will it last?
And what does it mean for property investors?
In today’s chat, Dr. Andrew Wilson and I shed light on the causes, implications, and potential solutions to Australia's rental crisis.
Links and Resources:
Dr. Andrew Wilson, Chief Economist My Housing Market
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: Why Australia’s rental crisis isn’t going anywhere, Plus Dr. Andrew Wilson’s solution
Mon, 25 Sep 2023 - 32min - 591 - Predicted Plummets, Real Rises – how did economists get their property predictions so wrong? With Stuart Wemyss
For more than a year the Reserve Bank hiked interest rates to the highest level in decades and there were lots of warnings about an imminent collapse of the Australian housing market.
And these warnings came from banks and institutional economists as well as the usual property pessimists!
Not many people expected interest rates to rise so high and so fast, and not many people expected the most interest rate-sensitive portion of the economy, our housing markets, to be so resilient.
Today, financial advisor Stuart Wemyss and I discuss the reasons why many predictions were way off, highlighting the role of market dynamics and interest rates.
We discuss the challenges of predicting the market bottom and explore the cognitive biases that could cloud judgment.
Learn about how the housing bears got it so wrong and whose advice should you be listening to as you plan for what’s ahead in the property market.
How Did Economists Get Their Property Predictions So Wrong?
In my chat with Stuart, we look into:
● Factors to consider when reading forecasts
o The psychology of homeowners
o What’s happening on the ground
● The inaccuracies in Australian housing market forecasts by economists and banks
● The potential dangers of blindly believing in market 'experts'
● The financial stress endured by homeowners and the significant role of market dynamics and interest rates
● The change in bank forecasts and reasons behind the shift
● The challenge of predicting the market bottom in long-term property investments
● The impact of cognitive biases on decision-making in property investment
● Importance of an evidence-based approach focusing on long-term investment and compounding capital growth
● Emphasis on strategy over luck in successful property investment
We emphasize the importance of an evidence-based approach in property investment.
We highlight the role of strategy over luck, and the need to learn from failures rather than shying away from them.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Some of our favorite quotes from the show:
“I think the other thing they missed was the supply and demand ratio. In other words, we went into this cycle with an undersupply of properties.” – Michael Yardney
“Rather than look for what's going to work now or in the next year or two, look for what's always worked and what's likely to be in continuous strong demand in the future.” – Michael Yardney
“So, the best way to reflect on your failure is to focus on the lessons that you've learned and the person you're going to become, rather than spending time trying to avoid failure.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 20 Sep 2023 - 42min - 590 - The Demographics of Interest Rates: A Conversation with Simon Kuestenmacher
We know inflation is coming under control, but it’s happening much more slowly than the Reserve Bank would like.
And part of the reason for this is that it’s fighting an uphill battle with demographics according to leading demographer Simon Kuestenmacher.
Today I’m going to chat with Simon and ask him to shed light on the Reserve Bank's challenge and more importantly, what it means for all of us.
Listen as Simon unravels the intricacies of economics, demographics, and inflation, providing a fresh understanding of these complex topics.
From the impact of Millennials and Baby Boomers on Australia's economy to the effects of interest rates on business decisions, this conversation is a deep dive into economic trends and their implications for different sectors of society.
Demographer Simon Kuestenmacher on Economics, Inflation and the Power of Demographics
During my chat with Simon, we explore the challenges faced by the Reserve Bank in controlling inflation and promoting full employment, the influence of Millennials and Baby Boomers on Australia's economy, and the impact of demographic trends on economic strategies.
● A detailed look into the Reserve Bank's mission to control inflation and stimulate full employment.
o The tools the RBA has to carry out its goals.
● How Millennials and Baby Boomers are triggering an unprecedented spending surge.
● The difficulties the Reserve Bank faces due to demographic trends and high consumer spending.
● The RBA’s role in innovation
o How lowering interest rates can incentivize businesses to invest in automation.
● How a stable and predictable economic climate can attract global wealth.
● Examination of the shocking inflation rate in Argentina and the challenges businesses face in such a scenario.
Whether you are a homeowner, investor, or simply interested in Australia's economic dynamics, a fresh understanding of the intricacies of how demographic trends are impacting the strategies of the Reserve Bank and affecting various sectors of the economy may change your perspective on economics.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher - Director of The Demographics Group
Some of our favorite quotes from the show:
“When there's a level of stability and people have more certainty I think it's going to be positive for businesses.” – Michael Yardney
“With ultra high inflation what you do is when you go to the shops you buy your coffees for the day. You don't want to buy one in the morning because in the afternoon, the coffee's going to cost more at the restaurant.” – Michael Yardney
“When you come up against a problem, to turn off the negativity bias in your brain, say to yourself: hey, it's just a problem, it's a problem I need to solve.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 18 Sep 2023 - 26min - 589 - Is it time to be fearful or greedy in property?
In today's show I tackle a question that's been looming large in many conversations – should we be fearful or greedy about entering the Australian property market right now?
With the property market showing signs of both opportunities and risks, it's a challenging landscape to navigate for both seasoned investors and newcomers.
These contradictory sentiments arise due to several key factors – market fluctuations, interest rate considerations, legislative changes, socio-economic conditions, and many more.
The balance between fear and greed can be a fine line to walk, and understanding the current property climate is vital in making informed decisions.
If you're a regular listener to the show you'll know I usually have guests on, but today it's going to be just me and you as I share my thoughts and help you interpret current market indicators, and spotting potential opportunities amidst the perceived chaos.
Whether you're an experienced investor, a first-time buyer, or merely an observer of the Australian property market, I hope to provide a balanced perspective and some useful insights that could guide your decision-making process.
Is it time for fear or greed?
Amongst the topics discussed today:
● I reflect on historical events like the 1993 recession and Black Monday of 1987
● Similarities between today’s market and the market 30 years ago
● What’s caused the rise in property values
o Why the same factors won’t work going forward
● Insights on homeownership and economic growth in Australia
o The wealth of the average Australian and where that wealth can be found
● Reasons not to be fearful or overly concerned
● Analysis of the property shortage and population growth
o How supply and demand is impacting property prices
● In-depth examination of the long-term growth of the Australian property market
● Discussion on the impact of urbanization, demographic changes, population growth, and wealth on the market
● The continuing rise in property value in our capital cities
● Reflection on trends in densification and community connection
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“The current environment, today's environment, reminds me of those times 30 years ago.” – Michael Yardney
"We've passed the peak of inflation, but it's not going to get into that two or three percent band for some time.” – Michael Yardney
“I'm a long-term investor and I still see strong underlying fundamentals for our property markets.” –Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 13 Sep 2023 - 34min - 588 - The TaxPert Session: Q&A Day with Ken Raiss
In today’s question-and-answer episode, I chat with Ken Raiss, director of Metropole Wealth Advisory, who shares his knowledge of property and wealth management.
We're going to discuss three of your questions about how to help your children into property, including questions about how to stop your children from squandering their inheritance and what happens to your superannuation when you die.
Even if you don't have children yet, I think you're going to benefit from some of the pearls of wisdom Ken drops.
Q&A Day with Ken Raiss
Question: We are in the fortunate position to have paid off our home and have a number of investment properties, but now our children having difficulty getting into the property market, in part because it's hard for them to save a sufficient deposit to buy the type of home they’re wanting. What's the best way of helping our children into property?
There are three major strategies to achieve the desired outcome of helping your children into property.
- A deposit gift – Some parents are gifting their adult children enough funds to cover a part or all of the deposit to buy a property and then their children remain responsible for the bank loan.
- The property in these circumstances is owned by the child and is subject to all the normal issues with asset protection. Some clients support their children by guaranteeing a higher loan and so do not actually pass over any funds.
i. However, they must be very careful as in the event of a default you would be liable for the full loan and could lose any security you may have given, such as your family home.
ii. Parents should try to limit any guarantee to the minimum amount required and when the property grows in value sufficiently arrange for a refinance so that they can be removed as guarantors.
- Buying for a minor – Another strategy is purchasing a property for a minor in their name with the proper notations on the title.
- Parents will be the child’s legal personal representative and will have the responsibility of managing the property.
i. When the minor becomes an adult, parents will need to take a copy of the birth certificate and evidence that the child is still alive to the relevant government department, which will then make the necessary title changes.
ii. There will be no stamp duty or capital gains tax on this title change.
- Using a trust – In this strategy, a family trust is used to purchase the property and parents are then the trustee of the trust.
- When the time is right, parents can pass control of the trust over to their adult child. With the correct advice when setting up the trust structure and a company as a trustee, there will be no capital gains tax or stamp duty payable.
Question: We have a son and a daughter. We're both in our 70s and have some rental properties.
We're afraid our daughter might sell one of the two rental properties she would inherit.
Is there some way of preventing that from happening that we can include in our will so that she can continue earning rental income for the rest of her life?
Also, we didn't understand the testamentary trusts and three tranches that you wrote about. Would you please explain these?
● One possibility would be to establish in the will that assets, properties, shares, cash, or whatever go to a testamentary trust for any children.
o A solicitor would probably suggest one for each child.
o The trust may say that the kids simply get the income from the assets distributed to them. Alternatively, the three tranches are an option.
● For a family or individual with good assets, a testamentary trust may make a lot of sense, or it may not. Seeking the advice of a good solicitor should be the first step.
Question: What happens to my super when I die?
● The standard answer is what they call a binding death nomination that specifies that 100% will be left to the surviving spouse, or 50% to the spouse, and 50% to the children, or whatever other solution is preferred.
o But in industry or retail funds, the will needs to be updated every three years. If that doesn’t happen, it becomes nonbinding.
▪ Nonbinding means the trustees of those super funds have some input to maybe do something differently.
● The other issue is that people who have got a larger super balance need to be more careful, because, on the death of one spouse, it may not be allowed to be fully transferred to the surviving spouse.
o The maximum caps at 1.7 million at the moment, but that goes up with inflation over time.
o In this situation, people need something more robust to say how much is going to go directly to a surviving spouse and how much will come out.
Links and Resources:
Ken Raiss, director of Metropole Wealth Advisory
Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here
In turbulent times like we’re experiencing why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here
Why not get your bundle of E-books and resources as my gift for subscribing to this podcast www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Only last week I was looking up something, doing some research, and I found the latest statistics in Australia suggested 50% of first marriages now divorce.” – Michael Yardney
“For many Australians, most Australians their superannuation is going to be, after their home, probably their biggest asset.” – Michael Yardney
“I think the important note is that your super isn't automatically included in your will because it's not your asset and unless you give certain instructions to your super fund trustee, it may not end up where you want it to be.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 11 Sep 2023 - 35min - 587 - Deal or No Deal? Pivotal Tips for Powerful Negotiating
Negotiation is one of the skills developed by all savvy property investors.
Over the years I’ve noticed that some people are very good at getting terrific deals.
Most others simply get what the other party is willing to give.
What’s the difference?
The first group knows how to negotiate.
In today's episode, I sit down with Jackson Milan, an expert in the art of negotiation in a conversation for his podcast.
We discuss the vital role negotiation plays in various aspects of life and how mastering it can significantly enhance your life's quality.
Drawing on my five decades of business and investment experience, we delve into the importance of effective communication, establishing rapport, and ethically influencing others. We also discuss the impact of timing on sales and investments, and how understanding market conditions can shape negotiation outcomes.
Lastly, we reflect on valuable insights I've gained from my mentor, Jim Rowan, about life's predictable patterns of change, and the power of attitude and choices.
Tune in to learn about negotiation strategies that can give you an upper hand and hear our perspective on the property market.
Navigating Negotiation Strategies for a Better Life with Jackson Milan
Life is one big bargaining event, and if you become a very good negotiator it makes a difference in the quality of your life
If you are a poor negotiator, you’ll spend a fortune. If you are a good negotiator, you’ll save a fortune. If you are a great negotiator, you’ll make a fortune.
But as I started to write my latest book on negotiation, I realized that to be successful in life today you need to be more than just a good negotiator.
In this podcast episode, you’ll hear me being interviewed by Jackson Milan, a veteran investor with five decades of experience, on the art of negotiation.
We’ll discuss its role in amplifying quality of life and the profound impact of negotiation skills on various aspects of life, especially in the realms of business and investments.
● The cornerstones of Michael’s success in life and business
● How access to information has changed over the years
● Importance of negotiation skills in life and business
● Who really needs to develop negotiation skills
● An alternative to the “meet-in-the-middle” approach
● Understanding the power of negotiation and influence so as not to be taken advantage of
o How culture plays into that
● The things that can give you more power in a negotiation
o If you’re not in a hurry, you’ve got the upper hand
o The more information you have, the more power you have
o Having alternative options gives you more power
● Valuable rules to understand in negotiation
o Everything is negotiable
o Know what you want before going in – plan your negotiations
o Don’t get emotionally invested
● Whether a quick sale is a good sale
● Getting the best asset as opposed to the cheapest asset
● The story of Michael’s first investment property
● The importance of delayed gratification, education, and having a good team around you as you plan for the future.
Links and Resources:
Jackson Millan - The Wealth Mentor – Aureus Financial
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Life is one big bargaining event, whether you become a good negotiator or not. And if you do, it actually does make a difference to the quality of your life.” – Michael Yardney
“Because in negotiation, I guess, like in life, if you don't have a plan of your own, you're going to be part of somebody else's plan.” – Michael Yardney
“It's hard to make money out of real estate in the short term, but it's a fantastic way of growing assets over the long term.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Wed, 06 Sep 2023 - 40min - 586 - Stop worrying about Money PLUS understand how your R.A.S can help you get rich
In today’s Podcast, I’ve got two great segments for you.
Initially, I'll explain how a fascinating part of our brain: the reticular activating system, operates as both a search engine and a GPS, guiding us towards wealth.
Then, I’ll have a conversation with a guest who has been called Australia's best-kept money secret, Jacquie Clarke. She's here to discuss her new book, 'Stop worrying about money.'
Links and Resources:
Jacqui Clarke – Stop worrying about money
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: Stop worrying about Money PLUS understand how your R.A.S can help you get rich
Mon, 04 Sep 2023 - 47min - 585 - The secret to finding “Your Enough” with financial well-being guru Manisha Thakor
In today’s podcast episode, we delve into the complex world of money well-being with financial guru, Manisha Thakur. Manisha shares her personal journey of overcoming the 'never enough' mindset and explores the psychological aspects of money.
We discuss the societal pressures that equate happiness to more money and possessions, and how this can lead to work addiction and a warped sense of self-worth. Manisha's insights extend beyond money, touching on aspects of work, success, and self-worth.
Drawing from her book, "Money- Zen -The Secrets of Finding Enough", she provides strategies to redefine our idea of achievement.
Our chat today emphasizes the importance of financial health as a foundation for emotional wealth and explores how love, health, learning, and contribution form the bedrock of true wealth.
Join us as we debunk myths, bust stereotypes, and redefine financial success with Manisha Thakur.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Metropole Brisbane Charity Ball to support Hummingbird House - click here for reserve your spot
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Manisha Thakour’s new book – Money Zen – the secret to finding your “Enough.”
Shownotes plus more here: The secret to finding “Your Enough” with financial well-being guru Manisha Thakor
Wed, 30 Aug 2023 - 53min - 584 - Will Albanese’s housing fix,fix our housing crisis ? Big Picture Podcast, with Pete Wargent
In today’s Big Picture' episode with Pete Wargent we take an in-depth look at the complexities of Australia’s housing market, economic trends, the impact of generational wealth transfer, and the ripple effects of various factors on the country’s economy.
Whether you're an investor, a homeowner, or just a curious mind, this monthly deep-dive promises to keep you informed and ahead of the curve.
Big Picture Podcast with Pete Wargent
Today we scrutinize the Labor Party's ambitious project to build 1.2 million homes and the myriad challenges this initiative faces, such as a shortage of skilled labor and building materials. The Labor Party's aim to build 1.2 million homes in Australia.
o There are potential challenges such as skilled labor shortage and material scarcity.
● The impact of peak dwelling completion and the issues arising from poorly constructed units.
● The ripple effects of employment, inflation, and fluctuating interest rates on Australia's economy
● Predictions from leading economists and the recalibration of property value and interest rate forecasts by our major banks
o Most forecasts now suggest that interest rates will not rise further
o After months of property prices rising, banks have finally updated their forecasts
● The significant generational wealth transfer from the baby boomers to younger generations
o The wealth amassed by the baby boomer generation, primarily in residential real estate, and how to effectively pass this wealth onto future generations
o The implications of baby boomer parents assisting their children in accommodation on Australia's property markets and wealth inequality
o Instilling good financial habits in children, drawing a strong association between work and earning, and emphasizing the importance of structuring wealth transfer to avoid future complications.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“If we've got all these people, what about the schools? What about the hospitals? What about the aged care? Lots of issues.” – Michael Yardney
“There's been five, six months of rising property prices and now all the banks are suggesting that values will keep increasing for a couple of years.” – Michael Yardney
“If you don't fail, you'll never reach the level of success that you're capable of attaining.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 28 Aug 2023 - 37min - 583 - Avoiding the Tax Trap: An In-Depth Discussion with Assistant Tax Commissioner Tim Loh
In today’s episode, I chat with Assistant Commissioner Tim Loh as he demystifies the tax obligations of property investors in Australia.
Lowe discusses the nuances of a $9 billion revenue deficit, three key areas to monitor when filing tax returns, and the importance of keeping thorough records.
He explains rental property taxes and deductions, and the ATO's mission to maintain a level playing field for all rental property investors.
We’ll also delve into capital gains tax, the importance of a certificate of residency for foreign investors, and key insights from the property market.
An In-Depth Discussion with Assistant Tax Commissioner Tim Loh
Tim Loh and I discuss the common pitfalls investors encounter, the importance of keeping accurate records, and the ATO's approach to maintaining a level playing field in the rental property market.
● Overview of the Australian Taxation Office's focus on rental properties
● What the ATO is focusing on this year
● The estimated $9 billion revenue deficit the ATO is trying to recoup
● The three key areas to monitor when filing tax returns
o Incorrect reporting of rental income and taxes
▪ The importance of keeping clear records
o Reporting interest expenses
o Distinguishing between repair and maintenance versus capital expenses
● The difference between a holiday home and a rental property
● How the ATO obtains data from third-party providers
● Importance of obtaining a certificate of residency for foreign investors
● Impact of capital gains tax on property sales
● The importance of consulting a financial advisor when considering property sales
● Tips and resources to help investors find more information or answer questions
This episode is a goldmine of information for property investors, with expert insights into the complexities of taxation. The conversation highlights the critical role that thorough record-keeping plays in avoiding tax issues, and the measures the ATO takes to ensure fairness in the property market.
Whether you're a seasoned investor or just starting out, this episode provides valuable guidance to navigate the tax landscape successfully. It underscores the importance of being well-informed and prepared when it comes to your tax obligations as a property investor.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
ATO Resources:
● Tax time toolkit for investors: ato.gov.au/Investorstoolkit
● Rental properties guide: ato.gov.au/rentalsguide
● Guide to depreciating assets: ato.gov.au/CGTdepreciatingassetguide
● Rental video series: ato.gov.au/Rentalvideos
● Videos on how to complete CGT in myTax: CGTvideos
Some of our favorite quotes from the show:
“90% of people filling out their tax returns make errors.” – Tim Loh
“Let's make it clear at the beginning, that if you take a loan for an investment purpose and then, all of a sudden, you taint it with personal expenses, that makes it very difficult, very confusing, to apportion the tax expenses.” – Michael Yardney
“I think one of the things we really should understand is the tax man knows what's going on. Don't think they won't notice these things.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Wed, 23 Aug 2023 - 41min - 582 - "Insights from the Inside: Alastair Lias Unpacks the Biggest Mistakes Property Investors Make"
In today's episode, Alastair Lias, a seasoned property strategist shares his insights into the often-intimidating world of real estate, providing a guide on how to avoid common pitfalls and succeed in property investing.
We dive into why a significant number of Australians abandon property investment within the first five years, and how savvy investors can break this pattern. We also discuss the roles of various property advisors and reveal who genuinely has your best interests at heart.
Join us as we debunk property investment myths, emphasize the significance of quality over quantity, and explore the impact of confirmation bias on decision-making.
Alastair Lias Unpacks the Biggest Mistakes Property Investors Make
What are the most common mistakes property investors make?
We’ll explore that question, as well as how to choose a reliable property strategist and the importance of understanding the long-term nature of property investment in today’s conversation. We also debunk the myth of 'get-rich-quick' schemes and stress the importance of making informed decisions.
● The importance of seeking advice from the right people who truly have your best interests at heart
o Remembering whose side estate agents and property marketers are really on
o What property strategists do
▪ A good property strategist doesn't predict the future, they help navigate it
● Separating what you can control from what you can’t control
● Debunking the myth of the 'get-rich-quick' scheme in property investment
● The importance of understanding how advisors get paid to reveal their true intentions
● The critical role of unbiased advice in property investment
● Understanding the impact of confirmation bias on decision-making
● Importance of quality over quantity when it comes to property investments
● Different people at different stages of their property investment journey need different advice
o Property investment is a long-term game, and it's smoother with the right team by your side
● The concept of confirmation bias and how it can lead to costly mistakes in property investment
● The importance of having the right people on your side when aiming to achieve wealth through property
Investors must remember the importance of staying informed, considering personal circumstances before making decisions, and remembering that property investment is a long-term process, not a get-rich-quick scheme. With the right advice and understanding that property investment is a long-term commitment, investors can journey towards wealth through property with confidence.
Links and Resources:
Alastair Lias – Senior Property Strategist Metropole
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“There are no shortcuts, so free advice could cost you a fortune.” – Michael Yardney
“It's the quality of your properties, the return you get, and how hard your money works for you that’s more important than how many properties you won.” – Michael Yardney
“Now I know there are a lot of challenges going on in the world and probably in your life personally, but you have the opportunity to decide your destiny.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 21 Aug 2023 - 39min - 581 - 5 ways I’m going to ensure my property investments outperform in this new property cycle
Today I’m going to share 5 ways I’m going to ensure my property investments outperform in this new property cycle.
As we work our way through the second half of this year and the recovery phase of the property cycle, it's typical to take a moment to reflect on the roller coaster ride of the past few years, digging deep into the treasure trove of lessons we've mined along the way.
However, in this episode, I will take a somewhat different route.
The episode delves into the crucial role of preparation for inevitable disappointments and property downturns. I’ll explain the difference between expectations and forecasts. I’ll be discussing strategies that have always worked, standing the test of time and outperforming fleeting trends. We’ll prioritize sustainability over sensation and longevity over the limelight.
Ensuring property investment outperformance
My approach to achieving long term property investment success is rooted in time-tested principles, as well as having a long-term focus and a thorough understanding of the market.
Take a look at the five key strategies that I employ to ensure the success of my property investments.
- Maintaining faith in the future, the real estate market, and our capitalist society, despite uncertainties and downturns
- It may seem easier to be pessimistic, but optimism is actually more realistic in the long-term
- The concept of delayed gratification will help keep you on track toward your goals.
- Discipline means not making decisions based on your reactions to the most recent news. You’re playing a long game, so stick to your plan
- Remember that free advice is not necessarily good advice. Surround yourself with professionals you can trust I avoid making forecasts, but I have expectations based on past experiences, and of course, I don’t tie them to a specific time frame
These five strategies reflect an investment philosophy that emphasizes long-term growth, strategic planning, and continuous learning.
Understanding these principles can significantly increase your chances of success in property investment.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us. We’re much more than just another buyer’s agent.
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“I confidently believe in the ability of our capitalist society to prosper on the back of our collective ingenuity.” – Michael Yardney
“I expect the property market is going to boom over the next couple of years and then prices will slump again – but I don’t know when that will happen.” – Michael Yardney
“New habits will allow you to reach high levels of performance and achievement that enable you to get there.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Wed, 16 Aug 2023 - 29min - 580 - Navigating the New Normal: Property Trends in the Age of Remote Work, with Simon Kuestenmacher
I believe demographics are going to drive our property markets moving forward and that demographic changes, how many of us there are, how we want to live, and where we want to live are going to be more important over the long term than the short-term fluctuations caused by rising interest rates or government interference.
That's why I enjoy my monthly chats with leading demographer Simon Kuenstenmacher. Today we’re going to spend some time navigating the new normal as we talk about emerging property trends in the age of remote work.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Simon Kuestenmacher - Director of The Demographics Group
Shownotes plus more here: Navigating the New Normal: Property Trends in the Age of Remote Work, with Simon Kuestenmacher
Mon, 14 Aug 2023 - 33min - 579 - Top 7 money myths about rich people, with Tom Corley
Today wealth-creation expert Tom Corley joins me to share valuable insights into the habits and strategies that distinguish wealthy people.
We’ll debunk common misconceptions about the rich, such as they don't pay their fair share of taxes or they are uncharitable.
We're going to dive deep into his findings about these seven common money myths and discuss what truly sets the rich apart. Get ready to challenge your preconceptions about wealth, success, and the habits that foster them.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get your copy of Rich Habits, Poor Habits here- www.RichHabitsPoorHabits.com
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Shownotes plus more here: Top 7 money myths about rich people, with Tom Corley
Wed, 09 Aug 2023 - 30min - 578 - Unravelling Domain’s House Price Report, with Dr Nicola Powell
As we pass the midpoint of 2023, it’s a good time to take a look at what’s happened in the housing market so far this year and consider what could happen in the second half of the year.
And joining me today is Dr. Nicola Powell, Domain’s Chief of Research and Economics to discuss Domain’s latest House Price Report uncovering the latest developments in property prices, demand/supply dynamics, regional disparities, and much more.
Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate.
Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate, I’m sure you’ll get some great insights from my chat with Nicola.
My conversation with Dr. Nicola Powell about the Domain House Price Report
Today, Dr. Nicola Powell and I discuss the resilience and future of the housing market. We delve into property prices, supply and demand dynamics, regional disparities, and the influence of government policies. During our chat, we also address concerns about distressed listings and a potential property market crash, as well as share our predictions for 2023.
● The importance of perspective when reading the housing market data.
o It’s important to pair the data with other economic factors and other data sets to come to conclusions
● An overview of Domain’s key findings
o We’ve recouped about half of the $60,000 in median house price that was lost during the downturn
● Key drivers of housing market resilience
● Understanding why Adelaide and Perth avoid major downturns in house prices
● Analysis of the rise of distressed sellers and the risk of a property market crash
● Insight into Sydney's role in price recovery and the impact of job stability and wage growth on the market
● Evaluation of Southeast Queensland's latest house price report and Melbourne’s housing market recovery
● Examination of Brisbane's unit prices hitting a record high
● The challenges that Hobart has faced
● Discussion on the influence of government policies on the property market, including land use reform and policies promoting affordability
● Prediction of the challenges for the property market in 2023 and advice on how to navigate it
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr. Nicola Powell, Domain’s Chief of Research and Economics
Domain’s latest House Price Report
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Sellers are buyers and buyers are sellers, so if more sellers put their homes on the market, they're also going to be buyers out there as well.” – Michael Yardney
“The right time to buy is when you're ready, when your finances are ready, when it suits your family.” – Michael Yardney
“Calculated risks are risks you decide to take after doing your homework, after checking everything out.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Mon, 07 Aug 2023 - 43min - 577 - "Habits that Shape Success: Decoding Steven Covey's 7 Wonders"– with Mark Creedon
One of the most influential books I read in the 1990’s was Stephen Covey’s ‘The Seven Habits of Highly Effective People.”
It’s a classic and a classic for a reason. The seven habits are really powerful things to build into your life.
In a way, they’re just common sense. Like “begin with the end in mind” or “put first things first”
But the thing about common sense is it’s just not that common. Not in practice anyway.
So in today’s episode, I delve into Stephen Covey's renowned Seven Habits of Highly Effective People with Mark Creedon, founder of Mastermind Business Accelerator.
If you want to become more successful as a property investor or business person, or just in life in general I'm sure you got to get some gems from my chat with Mark Creedon today as we unpack the this personal development classic.
What we learned from Stephen Covey’s Seven Habits of Highly Effective People
- Proactivity and its relevance to property investors and business people.
- Learning to take responsibility for one's reaction to one's own experiences and take the initiative to respond positively and work for improvement.
- Determining what you want is necessary in order to work and plan toward it.
- Learning to distinguish between what’s important and what’s urgent.
- Valuing and respecting others will lead to better outcomes.
- Empathetic listening to others not only ensures that you’ll understand them better but also prompts them to do the same for you.
- People are stronger together, and through positive teamwork, you can unlock improved outcomes
- Putting in the time to renew yourself physically, spiritually, mentally, and socially makes you a more well-rounded individual.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“If other people have achieved success, there's no reason why you can't, and why not look for a shortcut about the way they think, about the way they do things, about how they go about their lives?” – Michael Yardney
“I think in many conversations people don't really listen. They're waiting for a break in the conversation so they can continue on with their discussion, their argument.” –
“What I'm trying to say is fear does have some uses because it actually lets you know that you're alive.” – Michael Yardney
PLEASE LEAVE US A REVIEW
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Wed, 02 Aug 2023 - 34min - 576 - What does the rental crisis mean for property investors? With Brett Warren
Today's discussion revolves around a topic that's creating shockwaves throughout Australia – the rental market crisis.
With rental vacancy rates at historic lows and the costs of renting a property skyrocketing, many Australians are finding it difficult to secure stable, affordable housing.
The consequences of this situation are far-reaching, affecting everything from mental health to workforce stability, from family stability to the broader economy.
To help dissect these complex issues, I'm joined by Brett Warren, National Director of Metropole Property Strategists, who brings a wealth of experience and insight to our discussion.
Overview of my chat about the rental market crisis in Australia with Brett Warren
● What the Australian Bureau of Statistics data says about how many houses there are in Australia and the composition of them.
● The effects of the rental crisis on tenants
● Examination of the impact of the crisis on the economy, mental health, and workforce stability
● Analysis of the challenges in the housing and rental market due to rising population and falling accommodation
● Discussion on the role of rising interest rates, over-regulation, and media influence in the property market
● Government interference in the market and the need for strategic investment planning
● The importance of long-term expectations, rather than forecasts, in shaping success in property investment
● Analysis of challenges in the housing and rental market, including overseas migration and lack of accommodation
While the current property market might not be attractive for investors right now, it’s important to remember that property investment is a long-term game.
Don’t try to time the market or hunt down bargains. Instead, focus all your efforts on buying an investment-grade property in an A-grade location that will hold its value in the long term.
Remember, the rental crisis is only worsening further, with no end in sight. Now would be a great time to buy an investment property and enjoy high demand while trying to be a part of the rental crisis solution. You may even inspire others to do the same.
Links and Resources:
Brett Warren – National Director Metropole Property Strategists
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“In other words, the government isn't even trying to help tenants.” Michael Yardney
“But in fact, a lot of Australians rent just because they choose to. It's the stage of their life.” Michael Yardney
“Successful people have this empowering belief that they're responsible for what they make of any given situation.” Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 31 Jul 2023 - 48min - 575 - Has the RBA won its fight against inflation? Big Picture Podcast with Pete Wargent
In these regular Big Picture podcasts, Pete Wargent and I discuss the macroeconomic factors affecting your economy and our property markets, and a lot has happened since our last show a month ago.
As one of Australia's most respected financial analysts and commentators, Pete brings his invaluable expertise to help us navigate the ever-changing landscape of the Australian property market.
● A lot of economists have changed their predictions since the last rate hike
● The impact of the Reserve Bank's interest rate decision and new Governor Michelle Bullock's appointment
● Discussion on the surge in property listings, especially in Perth, Adelaide, and Queensland, and speculation on whether this is due to investors capitalizing on market shifts or facing financial troubles
● Analysis of the sluggish property price growth despite the rise in rent prices, and the effects of borrowing capacity and housing stock efficiency
● Exploration of urban redevelopment and housing construction issues, including the price gap between houses and units, potential pitfalls of new developments, and merits of older apartments
● Examination of the role of population growth on infrastructure and the economy, covering immigration's influence, changing demographic pyramid, and future challenges like lack of infrastructure and transport access
● Detailed discussion on the changes at the Reserve Bank, exploring the Bank's interest rate decision, increase in property listings, slowing growth of rentals, and widening gap between houses and apartments
● Deep dive into the fragmented Australian property market, analyzing the surge in listings, slow property price growth despite the rise in rent prices, and impact of borrowing capacity
● Discussion on urban redevelopment and housing construction issues, touching on aspirational suburbs, widening price gap between houses and units, and potential issues with new and existing developments
● Exploration of population growth's impact on infrastructure and economy, discussing immigration's role, changing demographic pyramid, and potential future challenges.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“I'm happy that it's slowing a bit because if we do have boom time conditions, that means this particular cycle will be a lot shorter.” Michael Yardney
“Look where people are moving, look where the money is going, and that's a combination of the locals and the millennials in particular who are now moving out of apartments into family formation states.” Michael Yardney
“And, by the way, don't compare yourself with other people, because the things you see on Instagram and Facebook aren't real.” Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Wed, 26 Jul 2023 - 39min - 574 - Why was RBA Governor Philip Lowe “sacked”? With Dr. Andrew Wilson
There were some significant changes regarding the RBA recently.
Philip Lowe’s term as Reserve Bank governor was not renewed which means he’s been effectively sacked as Reserve Bank governor's current Deputy Governor; Michele Bullock will become Governor starting 18 September.
Regular listeners would know that I record a weekly video with Dr. Andrew Wilson, and this is the audio of last week’s Property Insider video.
So, let's hear what Andrew Wilson has to say about the sacking of Dr. Phillip Lowe. Andrew will also be discussing some of his latest data and if you are keen to see the charts, I will leave a link in the show notes so you can see them.
Today Dr. Wilson,delves into the intricacies of housing markets, bank policies, and the effects of recent changes at the Reserve Bank. Topics discussed include data on property trends across capital cities, the impact of the Reserve Bank of New Zealand's macro-prudential policies on the housing market, the trend of no interest rate changes despite a weakened economy, and the potential implications of the post-COVID stimulus package on inflation.
The episode also evaluates the performance of housing markets in specific regions, discusses current market trends, and provides an outlook on the property market and its likely trajectory.
In today’s show we discuss…
● Analysis of Reserve Bank Governor Philip Lowe's mistakes and lessons for Deputy Governor Michelle Bullock
o There was a misplaced obsession with the housing markets
o The RBA supported “experimental” macro prudential policies between 2015 and 2018 which led to the supply side challenges their property markets are currently experiencing as well as skyrocketing rents.
o Interest rates were kept on hold in 2016 - 17 despite a weakening economy when many jobs were being lost as the RBA didn’t lower rates as it was still concerned about our housing market.
o However, interest rates will slash in the second half of 2019.
o Under Dr Lowe’s watch bank margins rose significantly with some suggesting they were gouging on the changing rates, even though this isn’t really under the RBA control.
o Who can forget the post-COVID message “There will be no rate rises until 2024”, which led many homebuyers and investors to take on significant borrowings at artificially low interest rates.
o Dr. Lowe has a poor record of delivering forecasts of house prices, wage growth, and our labor markets.
o There have been a number of recent inconsistent policy determinations.
o Critique of the Reserve Bank's consistent misses on house price forecasts and mysterious policy determinations
● Dr Wilson gives an overview of the housing markets in the various sub regions of Sydney and Melbourne and Brisbane
● We get a snapshot of the current winter market trends and auction results around Australia
● We discuss the property market outlook and why house prices won't fall despite increased stock and slower rent growth
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr. Andrew Wilson, Chief Economist My Housing Market
Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“So under Michelle Bullock’s watch, inflation is going to come under control, interest rates are going to come under control and she'll probably be a little bit more popular.” – Michael Yardney
“Maybe agents are a little bit lazy in Brisbane because they're not used to the auction culture, and they can sell almost anything they list at the moment anyway.” – Michael Yardney
“So for most of us, morning is when your brain is charged and ready to make the tough decisions that require a lot of brain power.” – Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Mon, 24 Jul 2023 - 40min - 573 - Politics and Property Navigating the Changing Landscape of Investment
Welcome to the Michael Yardney Podcast. Today I’m thrilled to have Nicola McDougall, chairperson of PIPA as my guest and we’re going to discuss how our property markets have become a political play toy.
There's a lot to unpack, and it's crucial for investors to understand the implications of the increased interference in the markets.
We’ll also discuss the latest ATO statistics showing how many property investors are in Australia and how many properties they own. And you’ll hear how more and more investors are thinking of jumping ship.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Metropole Brisbane Charity Ball to support Hummingbird House - click here to reserve your spot
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Nicola McDougall – Chairperson PIPA
Shownotes plus more here: Politics and Property Navigating the Changing Landscape of Investment
Wed, 19 Jul 2023 - 48min - 572 - Navigating the Investor's Life Cycle
Today, I’m joined by Stuart Wemyss to discuss two fascinating topics.
The first one is the life cycle of a typical investor, and you’ll find it's a roadmap that provides insight into the ebbs and flows of the financial journey you’ll experience as a property investor and the strategic decisions you’ll have to make along the way.
And then we chat about the concept of giving your children and grandchildren an early inheritance rather than waiting till you die. And even if you don't have children or grandchildren yet, you are somebody's child, so this may be very relevant to you.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: Navigating the Investor’s Life Cycle
Mon, 17 Jul 2023 - 48min - 571 - Investing is getting harder – here’s what other investors are doing with Mike Mortlock
Mike Mortlock joins the show today, and he and I will explore the patterns and trends of property investments - how far away from home do people really invest?
We’ll also look at what the latest data from the Australian Tax Office tell us about the landscape of property ownership. If you've ever wondered about how many Australians actually own an investment property, or how much Australians really earn you'll enjoy my chat with Mike.
We'll also be delving into a crucial aspect of property investment that often goes misunderstood - depreciation. Many property investors make common mistakes when it comes to depreciation, and we're here to help you steer clear of these pitfalls.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Join us at Metropole Brisbane Charity Ball to support Hummingbird House - click here to reserve your spot
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Mike Mortlock – MCG Quantity Surveyors
Shownotes plus more here: Investing is getting harder – here’s what other investors are doing with Mike Mortlock
Wed, 12 Jul 2023 - 46min - 570 - Turning Setbacks into Comebacks: A Conversation with Para Olympics Medallist Kevin Rempel
Regular listeners know I like to share my thoughts not only about wealth creation but also about success, and I have had the privilege of speaking with extraordinary guests who have achieved amazing things, and today is no exception.
Today we’ll talk about overcoming adversity, pursuing passion, and achieving personal success, and my guest today, Kevin Rempel embodies all of that and more.
He's a man whose story is an embodiment of the phrase 'triumph over adversity'. We dive into his journey, the highs and lows, the victories and setbacks, and the lessons he's learned along the way to become a paralympic champion.
Links and Resources:
Kevin Rempel - The Hero Mindset
Connect with Kevin Rempel on Linked In
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Get a bundle of eBooks and reports = www.PodcastBonus.com.au
Shownotes plus more here: Turning Setbacks into Comebacks: A Conversation with Para Olympics Medallist Kevin Rempel
Mon, 10 Jul 2023 - 33min - 569 - 21 Small Actions That Will Make You Richer, With Mark Creedon
While we usually talk about property money and success, the underlying theme is most people want to become richer so today we're going to dig deep into the true essence of wealth building and that is consistency.
Now you've probably seen or heard about those online success stories, haven't you? Those narratives that suggest getting rich is a simple matter of having the right idea at the right time or finding the next hot spot. However, the truth is, it’s not that easy.
So today, I’m joined by Mark Creedon, business coach to some of the most successful businesspeople and entrepreneurs in Australia and CEO of the Metropole Property Group of companies and we'll discuss 21 small actions that will make you rich slowly.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Why not join Metropole’s Mastermind Business Accelerator
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business not a Job
Subscribe to Mark’s Mastermind for Business Podcast here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Shownotes plus more here: Small Actions That Will Make You Richer, With Mark Creedon
Wed, 05 Jul 2023 - 41min - 568 - What on earth will make property values keep rising if high inflation and lower wages growth persists, with Stuart Wemyss
Stuart Wemyss believes property prices can continue to rise despite high interest rates and low wage growth, and today, we'll be diving deeper into this topic. In this episode, we’ll explore income, borrowing capacity, migration, inheritance, and other factors and how they intersect in shaping the property market.
Links and Resources:
Stuart Wemyss – Prosolution Private Clients
Stuart’s Book – Rules of the Lending Game & Investopoly
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: What on earth will make property values keep rising if high inflation and lower wages growth persists, with Stuart Wemyss
Mon, 03 Jul 2023 - 38min - 567 - Will our high immigration numbers be enough to stop a recession? With Dr Andrew Wilson
Welcome to the Michael Yardney podcast. Today Dr. Andrew Wilson and I will be addressing all the talk about Australia falling into a recession.
We will share the latest immigration statistics which show Australia increased its population by almost half a million people in 2022, and we'll explain what the latest unemployment figures suggest is ahead for our economy and interest rates.
Dr. Wilson will also discuss the current economic landscape and shed some light on the potential outcomes for our economy and housing markets.
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Dr. Andrew Wilson, Chief Economist My Housing Market
Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info
Get your bundle of eBooks and reports at www.PodcastBonus.com.au
Shownotes plus more here: Will our high immigration numbers be enough to stop a recession? With Dr Andrew Wilson
Wed, 28 Jun 2023 - 38min - 566 - Will the latest increase in interest rates be the "straw that breaks the camel's back"? Big Picture Podcast with Pete Wargent
In today’s episode, Pete Wargent joins me as we do a deep dive into the big picture of our economy and our property markets.
Some of the topics we’ll explore include 12 interest rate rises, high inflation, and recent wage decisions, all of which are causing increasing worry about a recession among commentators. Don’t despair, however. Take the time to listen to Pete and I parse these topics, offer insights, and discuss what these trends really mean for you and for the future of the economy and our housing markets.
Links and Resources:
Metropole’s Strategic Property Plan – to help both beginning and experienced investors safely grow, protect and pass on your wealth through property.
Get a bundle of free reports and eBooks – www.PodcastBonus.com.au
Shownotes plus more here: Will the latest increase in interest rates be the “straw that breaks the camel’s back”? Big Picture Podcast with Pete Wargent
Mon, 26 Jun 2023 - 39min - 565 - We don’t have a housing supply crisis, with Ross Elliott
We all know that we have a housing supply crisis and that the answer is to build more apartments?
But my guest today Ross Elliott, who is a respected voice in urban economics, is going to challenge some of our preconceived notions about the housing market.
He doesn’t deny there are problems with housing, but he has a different opinion on what’s causing the problem, and he will explain his thoughts.
Join us for an exploration of housing supply and demand, challenges in building new homes, and the pitfalls of rapid growth in our housing market and communities.
Links and Resources:
Ross Elliott – The finger on the pulse blog
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Shownotes plus more here: We don’t have a housing supply crisis, with Ross Elliott
Wed, 21 Jun 2023 - 33min
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