My best tips for getting started in property investment

Are you interested in getting into property investment this year?

Either your first investment or to grow your portfolio – well today’s show is for you.

Hopefully, you’ve been enjoying a bit of a vacation at the beginning of this New Year. Pam and I are currently cruising around South America, so this show is another episode in the summer series where I share the recording of an interviewed with me by Alex and Liz from the Finder Money Podcast

In this episode, they ask me about how I got started in property investment and I give some of my best tips for those looking to get into the property market.

During our chat I answer their questions and share the lessons I have learned from my hands on experience after buying my first investment property over 40 years ago.

In the Podcast We Touched On:

• How real estate investment is not a get rich quick scheme.
• Running into problems by buying quickly and not investing in the right type of properties.
• Residential real estate is high growth relatively low yielding investment.
• Buying for capital growth as opposed to cash flow.
• The most important difference between successful and average property investors
• The three stages of your property investment journey: asset accumulation, lowering your loan-to-value ratios, and then living off of your property portfolio.
• How real estate investing is a game of finance with some properties thrown in the middle.
• Finding properties that will have strong demand in the future – what I call investment grade properties.
• How investment grade properties are stable with above average market growth.
• Where an investor should be looking in Australia for their first property
• How important location is in the success of a property investment and how property type factors into this
• Capital growth drives your investment. You need to get your first property purchase right.
• Why it's wrong to buy an investment property you would like to live in
• How you know when you're ready to invest in property
• Michael's personal property investment strategy and how he selects an area to invest in
• The difference between investment grade properties and investment stock
• Investing where the job growth will be.
• Why I think Melbourne and Sydney are still good places to consider invest.
• What really drives property prices
• How having the wrong habits and a poor wealth operating system is why so many don’t get out of the rat race.
• Using debt to leverage your money and buy appreciating assets that go up in value.
• Some of the mindset differences between the rich and poor
• Recognize that you are where you are today because of what you have chosen to do and what not to do.
• Become financially fluent, learn about money, and hang around with people who are financially fit.

Links and resources:

• Michael Yardney
• Metropole
• Rich Habits Poor Habits
• Property Update App
• Money Podcast #37: Michael Yardney gives us his best property investment tips
• Warren Buffet

Quotes:

“It’s not the size of your portfolio that matters, it’s how big the asset base is and how the properties work. ” Michael Yardney

“Find other people who have achieved what you want to achieve and then do what they do.” Michael Yardney

“Cash flow will never get you out of the rat race, but an asset base will.” Michael Yardney

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