Property Investment, Success & Money | The Michael Yardney Podcast "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
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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
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