Property Investment, Success & Money | The Michael Yardney Podcast

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: Michael Yardney 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  

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: Michael Yardney 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

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 Pete Wargent’s blog 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    

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: 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 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 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

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: Michael Yardney 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    

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 Exercising patience, understanding that growing wealth through property investment is a long-term process that requires time and discipline The concept of delayed gratification will help keep you on track toward your goals. Upholding discipline, sticking to my strategic plan, even when the fruits of those decisions are not immediately visible 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 Building a reliable team around me and acknowledging that property investment is a process not an event 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 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

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: Michael Yardney 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  

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 Tom Corley’s blog 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

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 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

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. Beginning with the end in mind: setting clear goals for your future. Determining what you want is necessary in order to work and plan toward it. Prioritizing: putting first things first. Learning to distinguish between what’s important and what’s urgent. Building successful relationships by thinking in terms of win-win. Valuing and respecting others will lead to better outcomes. Understand others to be understood. Empathetic listening to others not only ensures that you’ll understand them better but also prompts them to do the same for you. Understanding synergy to create a whole greater than the sum of its parts People are stronger together, and through positive teamwork, you can unlock improved outcomes Devoting regular time to self-renewal 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.” – Michael Yardney “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 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