Property Investment, Success & Money | The Michael Yardney Podcast

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 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  

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: Michael Yardney 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

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 Domain’s Rental report Domain’s Home Price Report 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  

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 Pete Wargent’s blog 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

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: Michael Yardney Jackson Millan – The Wealth Mentor at Aureus Financial Aureus Wealth Scorecard 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

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: Michael Yardney 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    

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: Michael Yardney 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  

  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

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: Michael Yardney 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  

I'm often asked what I would do differently if I could live my investing journey all over again.  I've certainly made my fair share of mistakes along the way and paid huge "learning fees" because of them. However, instead of being defeated, I learned from each error and moved forward a little bit wiser.  If you ask me that’s one of the keys to investment success - the ability to pick yourself up from setbacks, learn what you can from them (including your own limitations) and simply try again.  So, to help prevent you from making the same mistakes, in today’s show Brett Warren, National director of property at Metropole  and I are going to chat about some of the things I wish I knew when I first started investing.    Takeaways      Setting clear goals is essential for success in property investment.      Buying in the right location is not negotiable      Building a supportive team can enhance investment success.      A wealthy mindset and abundance thinking are traits of successful investors      Delayed gratification is critical to long-term wealth.      Overcoming fear is necessary for making investment decisions.      Learning from your failures can lead to future success.      Compounding and leverage are powerful tools in property investment.      Ignoring media noise helps you maintain focus on long-term goals.      Balancing cash flow and capital growth is vital for financial stability.      Gratitude is important as is giving back to the community    Chapters  04:15 The Importance of Education and Mentorship  07:30 Setting Clear Goals for Property Investment  10:37 Building a Supportive Team  13:24 Developing a Wealthy Mindset  16:25 The Power of Delayed Gratification  19:12 Overcoming Fear in Investment  22:38 Learning from Failure  25:34 Understanding Compounding and Leverage  28:33 Ignoring the White Noise of Media  31:17 Balancing Capital Growth and Cash Flow  34:21 The Significance of Location  37:29 Financial Discipline and Gratitude  39:20 Giving Back to the Community  39:31 The Power of Perseverance  40:24 Finding Strength in Adversity  40:42 Understanding Market Trends and Analysis    Links and Resources:   Michael Yardney   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 of Property at Metropole   Join us at Wealth Retreat - Australia’s Premier Wealth Retreat for Elite Investors and Business People www.WealthRetreat.com.au      Also, please subscribe to my new podcast Demographics Decoded with Simon Kuestenmacher – just look for Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future.   Shownotes plus more here: 16 things I wish I knew when I started investing, with Brett Warren