Property Investment, Success & Money | The Michael Yardney Podcast

Property prices have been climbing at a breathtaking pace in 2021. This has been good news for homeowners but heartbreaking for house hunters. At the same time, there have been mixed messages in the media about what's ahead. Of course, there's always the Negative Nellies wanting to tell anyone who is prepared to listen to them the market is about to crash, but other more solid commentators are suggesting our property market is slowing down. And I agree, I believe the pace of capital gains has peaked, but I'm not suggesting home values are about to dip, far from it. Rather I believe we've moved from a peak rate of growth to a pace of capital gain that will be more sustainable. I was recently interviewed by Jarrad Mahon for his Perth Property Insider podcast, and because the questions he asked me were more general in nature, rather than related to Perth I asked his permission to replay the interview with you as I hope you'll get benefits from my answers to his questions. You'll hear me answers questions like how much more life is left in the property cycle and you'll be pleased to know that it's not too late to be early for this property cycle – I'll explain how long I believe is left in this cycle and where the opportunities lie. Topics I discussed with Jarrad Mahon Last year when many of the bank economists predicted a 15%, 20%, 30% fall in property values I disagreed with them I'm on record in March and April last year suggesting that well-located A-grade homes and investment-grade properties would only fall about 5% in value and secondary properties would fall close to 10% in value and I got that right. I also called a turning point in our property markets in October last year when we could see on the ground what was happening long before it showed up in the official statistics. However, I didn't really expect the market to rebound so quickly. All the property markets are stronger than they were 12 months ago. In the last three months, Melbourne's grown closer to 6%. We're in a cycle of upgrading Based on affordability I expect 20- 25% growth this cycle And while this will be a general increase in value around the Australian property market some areas are going to outperform others, as they always do and a lot of this will have to do with demographic High-end properties will outperform, and capital cities will outperform the regions In cities, the apartment market will languish While normally investors make up around 30% of our property markets currently, they're making up around 20% of all property purchases. This will increase and as more Australians become comfortable with their financial situation and hear how well the property markets are performing, we will have a whole new wave of property investors, as has happened every other cycle. The unfortunate thing is that most investors will fail – they will not get past the first investment property and if history repeats itself 50% will sell up the properties within the first five years. Affordability and the deposit gap will slow growth Apra and the RBA said they are not going to interfere as long as lending remains responsible. It's unlikely interest rates are going to go up, but we could see. It's not really population growth that drives our property markets and more demographics which in part includes how many of us there are but also how we want to live and where we want to live. Population growth per se does not cross property price growth family formation does – my daughter just had a baby but doesn't need any extra house. The return of cashed-up ex-pats is having to property price growth. It has been estimated that hundreds of thousands of people return to Australia over the last year, with many of them coming from cities that have more expensive property markets. Many are returning with plenty of Real Estate dollars behind them off in a stronger currency is the Australian dollar which supercharges their buying power even more. Ex-pats from expensive cities like London, Hong Kong, and New York often don't consider our property prices unaffordable I'm not happy to pay whatever is necessary to secure a prestigious property in the desired location Immigrants often rent for a while because they're not sure where to live and this is definitely affected our rental markets, particularly in the big capital cities. Immigrants don't know where to buy – all they know is there a place of employment or maybe the university, so they are often start as tenants. Australia has a business plan to increase our population to 40,000,000 people by 2050. We plan to get to 30,000,000 people by 2030 – that's unlikely to happen – more likely to be 29 million. But that means if you get into the property market today, you're ahead of 3 ½ million other people are going to be buying property in the next 8 to 9 years There is no doubt that people move from one location to another because of affordability, but more important than that is jobs. The ability to work, live, and play all within 20 minutes' reach is the new gold standard desirable lifestyle. Imagine being able to carry out your daily activities within a 20-minute walk from home. Resources: Get a range of my eBooks and reports as my gift at www.PodcastBonus.com.au Jarrad Mahon Investor's Edge and the Perth Property Insider Podcast As our markets move forward why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors. Shownotes plus more here: It's not too late to be early this property cycle with Jarrad Mahon Some of our favorite quotes from the show: "It really has been just the huge change in consumer confidence that I don't think anyone really expected." – Michael Yardney "I say this is a cycle of upgraders, and it's happening at all levels." – Michael Yardney "Clarity is knowing exactly what you want in life, and what you need to do to get what you want." –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'd like to share with you my top insights into creating accelerated wealth. Now, the show is a little bit different, because it's actually the audio of a webinar I conducted with my friend Louise Bedford who asked me to share with her audience my insights into creating wealth in this new business, property, and economic cycle. It came at a great time because I was preparing the curriculum for Wealth Retreat this year that we'll be holding on the Gold Coast in June, and I was reviewing my notes from previous years and speaking with previous attendees. I was blown away by the feedback as previous attendees explained how the Wealth Retreat changed the way they handled their investments, their business and their lives. That's high praise from people who are already very successful. So, I hope that sharing my insights will also benefit you and help you take advantage of the opportunities that lie in front of us in 2021. My insights into wealth creation The first step along the investment path is educating yourself. It's what I still do today to keep growing and it's what all successful investors do. Experience is an expensive teacher. I recognised that we all have personal ceilings of achievement that are based on our current thoughts and habits. The answer is to grow yourself into a bigger cup so that you attract and keep more wealth. You do this by upgrading your wealth programming – the way you think and react about money. We all need to learn from mistakes – this helps you get it right and move forward. The only question is, whose mistakes? Yours or those of the successful investors who have already achieved what you want to achieve? Remember, building wealth all on your own is not only hard work, but it's slower and riskier. Alone you are vulnerable and will never reach your fullest potential. But when you connect with the right mastermind group, the chemistry will literally propel you to heights you never dreamed possible. The biggest obstacles we need to overcome to become financially free Obstacle #1: Isolation: It's hard to build wealth on your own You see…alone you are vulnerable. You will never reach your fullest potential. But when you connect with the right people, a whole new set of options you never dreamed possible opens up to you. In fact, one of the main reasons people attend Wealth Retreat is to have an instant peer group of movers and shakers. Obstacle #2: Fear One of the greatest obstacles to building financial freedom is fear. And with all the mixed messages in the press at the moment with concerns about, the after-effects of the Corona Virus on our economy, what will happen when JobKeeper ends, growing social unrest in Australia – not just overseas, the challenges with obtaining finance and talk of a property bubble developing, many of us are more fearful than ever. This fear can be taken many forms, but the big 4 fears I come across are: Fear of failure – this is especially prevalent. Fear of debt – most of us have been taught that debt is bad and not to take on more debt. Strategic investors recognise that debt in itself is not necessarily bad, rather it's not being able to repay your debts that's a problem. Fear of success – Interestingly, some beginning investors put off their investment decisions because they are haunted by a fear of success. While this may initially seem strange, this fear generally stems from a feeling of unworthiness, where people convince themselves that they are undeserving of wealth or wanting to accumulate wealth makes them a bad person. Fear of the unknown – Who wants to go into a dark room? Who wants to go to a party where you don't know anyone? Who is not nervous about buying their first investment property? Whenever the outcome is uncertain, fear rears its ugly head. Another fear I have commonly seen is the fear to follow your passion. Obstacle #3: Uncertainty The third major obstacle I've observed our Wealth Retreat graduates had to overcome was confusion. They had heard so much conflicting financial advice over the years that they quite simply didn't know which direction to move in. How to overcome these obstacles One of the most valuable benefits of Wealth Retreat for attendees was that it simplified the complex world of wealth building and business planning so that they had a crystal clear, specifically defined plan of action to pursue their personal wealth building. Alone you are vulnerable; connected we are strong It really struck me how easy it is to fall back into old habits and let negative outside influences dramatically impact our mindset and financial results when we are on our own. 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. Your peer group is contagious One of the things that struck me on the first night at Wealth Retreat, when we all got together for a special surprise event (the details of which I can't reveal here, otherwise it would spoil the surprise for the attendees) was how quickly people connected with each other. It's ultimately up to you to find and create the peer group that will help you live the life you want to live. 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. Some are fearful… others embarrassed… But isolation only makes things worse. You need to accurately assess the situation, learn your lessons, and move forward. Beating yourself up is of no benefit. This is why your peer group and mastermind team are so essential. Your Mastermind Team Apart from the opportunity for participants at Wealth Retreat 2021 to have one on one sessions with our expert faculty, one of the exciting parts of Wealth Retreat this year will be 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. Resources: Join us at Wealth Retreat 2021 – find out all about it here Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a range of my ebooks here: www.Podcastbonus.com.au Shownotes plus notes here: [Podcast] My Top Insights into Accelerated Wealth Creation with Louise Bedford Some of our favourite quotes from the show: "If you're in the room with a group of already successful movers and shakers, it makes you think different and you come out different." – Michael Yardney "Isolation is one of the largest obstacles to building wealth." – Michael Yardney "People need to convince themselves that they're deserving of wealth." – 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

Perhaps it's a reflection of how old I am, but as I keep seeing the stories in the media about rapidly rising house prices, I simply think: here we go again. There are already those out there telling us we are in the housing bubble that's going to crash. Then there are others who are warning us how the Reserve Bank or APRA are going to interfere and slow things down. And then the banks that only 12 months ago forecast house prices would fall 10, 15 or 20 percent are now suggesting house prices could rise by 10, 15, or even 20 percent in this year alone in some areas. While these periods of rapid house price rise essentially come down to the forces of supply and demand, each sprinkled with varying quantities of irrational exuberance, the precise forces behind each of the housing booms I've invested in over the last almost 50 years are not the same. I remember just after I bought my first investment property early 1970s inflation boomed when the Whitlam Labour government came in. At that time interest rates were much higher than they are now. Inflation had the effect of reducing the real value of mortgages, but it was also a time of strong wage growth. Then I remember the great property boom of the late 1980s which was one of the factors that led to the recession we had to have in the early '90s and particularly remember the boom in the early 2000s, when investor demand was a significant factor driving up house prices, in part because of the changes made to the capital gains tax regime at the time. Looking at the current housing boom, there are some very interesting features that contrast with previous cycles. The first is that population growth is currently very low, in fact, net immigration actually caused Australia's total population to fall over the past 12 months. That's very different from previous booms — particularly in the middle of the last decade — where strong immigration was an important driver of rising house prices. Another interesting difference is the relative absence of investors in the current housing market compared with owner-occupiers. This is reflected in the much stronger demand for standalone houses rather than apartments. In February this year investors only made up about 20% of all home loans while traditionally this is closer to 30%. And it's not just local investors that are missing. There is also the absence of foreign investors. During the last boom Asian investors, particularly from China were an important force driving up property prices and buying many of the high-rise apartments being built in our CBD. They are nowhere to be seen this time around. So far, a significant factor of this property boom has been the presence of first homebuyers assisted by various federal and state government initiatives including the homebuilder program, the first home loan deposit scheme, and various deputy concessions. While our banks are keen to lend to First Home Buyers, I've heard that the Bank of Mum and Dad is now is the fifth largest lending institution in Australia. Here homeowning parents who sitting on significant equity in their property help their children get into the housing market either with gifts, loans or they assist by guaranteeing their loans. So how can you make the most of this property cycle? Is the Reserve Bank going to interfere and raise interest rates? Will APRA slow down lending as it has in the past? These are all questions I'm going to ask of my regular podcast guest, financial adviser Stuart Wemyss. Truths about the housing boom Our property markets have been surging this year with double-digit growth in sight for all our capital cities. And now that more Australians feel secure about our economy in general, and their jobs in particular, this will only place more impetus under our markets. And it's clear that FOMO (fear of missing out) when homebuyers and investors are scared the market is running away from them is driving many decisions. Buyers feel they must get into the market and this is showing with even secondary properties selling well above their vendor's expectations. Normally at the beginning of the property cycle, there is a flight to quality – people remember the type of properties that held their values well during the downturn and avoid secondary properties. But currently, I'm seeing some home buyers so worried the market is going to pass them by that they are compromising their selection criteria just to get into this market. Unfortunately, we've seen how you end up when the market eventually slows down, and it's not always a pretty sight. So what's ahead for the markets this year and how can you take advantage of our current property boom without getting burned? That's the topic of my discussion today with independent financial adviser Stuart Wemyss. Will the RBA increase the cash rate? The lowest 40% of income earners have been affected by COVID-19 the most. An increase in interest rate would adversely affect low-income owners when they could least afford it. An increase in interest rates would be bad news for the federal and state government budget deficits. The federal government's total borrowings attempt to reach $1 trillion meaning 1% of price interest rates would cost the government an additional $10 billion a year – not an attractive prospect. Will APRA introduce macroprudential controls? Chairman Wayne Buyers said APRA's primary responsibility is financial stability, not soaring house prices, and it is not seeing activity right now that would compel it to intervene. However, more commentators are suggesting there will be a role for changes to potential lending standards. How might this be done? Increase interest rates for investor mortgages and leave owner-occupier rates unchanged (investor mortgage rates are already 0.4-0.8 percent higher than owner-occupier rates). Limit the maximum loan to value ratio (LVR) for investment loans. At the moment, investors can borrow up to 90 percent of a property's value, meaning they only need a 10 percent deposit plus costs. The government could reduce these LVR limits, like the Reserve Bank of New Zealand did last month. Increase the benchmark interest rates for investors. A benchmark interest rate is used when a lender calculates your borrowing capacity. It provides a buffer to provide for future interest rate increases. The higher the benchmark interest rate, the lower your borrowing capacity. While a new round of macro-prudential policies is looking increasingly a matter of when, not if, as I see it, the catalyst for such a policy intervention is more likely to be based on a worsening in the quality of lending standards or increase in mortgage-related household debt rather than as a response to heat in the housing market. Tighter credit conditions would probably have an immediate dampening effect on housing market activity while continuing to let record-low interest rates support the ongoing economic recovery. It's very likely that the government (through APRA) will tighten borrowings criteria for investors sometime over the next six to 18 months. Of course, this is dependent on property prices. If price rises are considered sustainable, borrowing rules do not need to change. For property investors, it is time to lock in access to as much capital as possible over the next six months. Depending on the type and location of your property, I would probably be inclined to wait for one to two months before getting your properties revalued. This will allow for some more comparable sales to occur. Then, around April or May, I would ask my mortgage broker to revalue my properties and lock in my borrowing capacity to 80 percent of those new valuations. The exact timing of this does depend on your circumstances. Notwithstanding the prospect of future lending rule changes (as discussed above), it is always a good idea to maximize your access to borrowings, even if you have no immediate plans. So, what should someone interested in getting into property be doing now. Lock in access to as much equity as possible over the next 6 months. Depending on the type and location of your properties, I would probably be inclined to wait for one to two months before getting your properties revalued. This will allow for some more comparable sales to occur. Then, around April or May, I would ask your mortgage broker to revalue your properties and lock in my borrowing capacity to 80% of those new valuations. The exact timing of this does depend on your circumstances. How important is timing the market? Ultimately the price you pay for a property is largely irrelevant. What is far more important (by a factor of 10) is the quality of the asset you buy. Property is a long-term investment. You should plan to hold it for many decades. So there's no point getting anxious over a few months. Discretionary vendors will be encouraged by recent results. As such, we should expect the supply of properties on the market to increase. This may have a cooling effect on prices or at least temper price rises. We must remind ourselves that prices are able to move in both directions. One thing is almost for sure. Interest rates are likely to remain low for an extended period of time, and that's an opportunity. Resources: Michael YardneyGet the team at Metropole to help build your personal Strategic Property Plan. Click here and have a chat with us Get your bonus ebooks and reports – www.PodcastBonus.com.au Join us at Wealth Retreat 2021 Stuart Wemyss – Prosolution Private Clients Stuart's Book – Rules of the Lending Game Shownotes plus more here: Some home truths about this housing boom with Stuart Wemyss Some of our favorite quotes from the show: "It's not just you and me who are going to have to pay more. The government's borrowings would cost them more." – Michael Yardney "I see property price growth slowing later this year. Not prices going down, but the growth slowing." –Michael Yardney "I've come to realize that too many people worry about failing, about getting it wrong." – 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

We are experiencing extraordinary times with a booming economy and surging property market yet if history repeats itself, most investors won't become rich. So, in today's podcast, I want to share three lessons with you to help even the odds in your favour. Firstly, I'm going to explain six reasons many property investors don't become rich, and they're probably not ones that you would've thought of. I would then like to discuss a controversial topic with you - that debt can actually be an asset, not a liability. Of course, not everyone agrees with me, but I hope once you've heard my point of view you will understand why the rich are getting richer because they know how to use it wisely, especially in today's low-interest-rate environment. And then I'm going to share 5 things that you can do differently to make your future better. The reasons why property investors don't become rich Reason 1 – Most people wait too long to start Many investors are waiting for everything to be "perfect" before they get going. Which means they never get going. The longer you wait to get started with your investing, the longer it will be before you get the money, success, and freedom you want. Reason 2 – Fear stops them Fear keeps many of us from getting what we want, especially in matters of money. Some fear taking on more debt, others fear failure and some even have a fear of success. Successful investors have learned to harness their fears and rather than focus on the negatives, they use fear to force them into positive action. Reason 3 – Waiting until they know enough The fear of not knowing enough prevents other investors from getting started. However, the irony here is that the more you learn, the more you learn that you don't know! The way out is to recognize that while you don't know it all, and you never will, you do know enough to get started with your investing and you will learn more along the way as you apply your knowledge in the real world, surviving any mistakes and challenges along the way. Reason 4 – Focusing on linear income instead of passive income Some income streams are linear, and some are passive. Linear income is what you get from a job. Passive income is when you work once but continue to get paid over and over again from work you're no longer doing. The way to become wealthy is having passive income coming in whether you go to work or not. Reason 5 – Not using systems for making money A system for making money is something that takes the emotion out of your investment decisions and makes the results more reproducible. My preferred system is investing in high-growth property. Once you create a proven system for making money, there is no limit to the money you can make. Reason 6 – Not being patient Warren Buffet once said: "wealth is the transfer of money from the impatient to the patient." To become a successful property investor requires patience and persistence. You must not only get started, but you must continue on and follow through. How debt can be an asset You were probably taught by your parents to get a good education, a good job, buy a home, work really hard, and pay off your debt. But, in my mind, that's not a productive use of the equity in your home. Instead, you should recycle the equity in your home and convert it into productive debt to buy income-producing assets. The three types of debt Bad debt: This is debt against assets that depreciate in value. Bad debt generally refers to things like credit cards or other consumer debt that does little to improve your financial outcome. Necessary debt: This is the non-tax-deductible debt against your home, but it's something essential that can't really be avoided. Good debt: This is a tax-deductible debt against income-producing and appreciating assets. Think loans against residential investment properties business loans. A seven step guide to debt recycling Over time you will have paid down a portion of your home mortgage with a principal and interest loan and during that time your home would have increased in value. The bank will often lend you up to 80% of the value of your home as long as you can show serviceability. You would take out a new investment loan using your available home equity as security and the purpose of this loan would be to use the funds as a deposit on an investment property. You could use this to invest in assets that produce both income and capital growth such as a managed fund, shares, or as the deposit against an investment property. You could even use the income generated from your investments, plus any tax advantages of a geared investment, to pay off the non-deductible debt in your home loan. Over time you will build your wealth as your investment property or share portfolio should increase in value over time and the cash flow you receive in the form of rental or dividends should also increase. At the same time you will slowly be paying down the mortgage on your home, so that when you reach your retirement years and start enjoying the longest holiday you will have in your life, you will own your own home with no debt and have an investment portfolio of properties or shares (preferably both) with a manageable level of debt. 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 Wealth Retreat 2021- find out more here Shownotes plus more here: Believe it or not, debt can be an asset | 6 reasons property investors don't become rich + More Some of our favorite quotes from the show: "The more you learn, the more you learn you don't know." – Michael Yardney "The difference between the current value of your home and the outstanding amount of your mortgage is your equity." – Michael Yardney "The quality of the results you get has a lot to do with the questions you ask yourself." – 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

Property investment may be simple, but it's not easy. It's simple if you follow the rules and the right strategy, but it's not easy because there are so many moving parts, and most people don't even recognize that. Successful property investment requires the collaboration of a team with expertise in property, finance, tax, the law, and financial planning. If you're a regular listener, you'd know I try to give you a mix of all of those things to give you a holistic overview of property investment. Today's episode is no different. I'll be talking to Ken Raiss, my business partner at Metropole Wealth Advisory, about the best ownership structures for property investment. After that, I'll share my mindset message with you. Highlights from my chat with Ken Raiss: What are ownership structures? They're a way of controlling your assets without owning them. It's a way to get all of the benefits of having them, like wealth and the ability to pass assets on to your children, without actually owning them. They give you a better way to manage cash flows, tax, and asset protection while separating you from the asset. People's lives and circumstances change. So even if you already have your portfolio and structures in place, it could make sense to change it now, depending on your circumstances. Types of structures: In general there are Companies and Trusts They've both been around for a long time, but they're now coming into use by ordinary people. Companies are very regulated. They must meet the minimum regulations set by the government. There are no government laws or rules about what needs to be in trust. Trustees may hold the cash, but they have a legal obligation to use it the way that the trust says they have to use it. Trusts have lots of flexibility concerning who you can give it to and what you can use it for. Benefits of using a trust: A more efficient way of distributing cash flows Be able to manage their own tax affairs Better control and management of the estate on death More flexibility Asset protection Common mistakes people make when using structures: Setting up a company, particularly for a business, then becoming the individual shareholder Setting up a company when trust would be more appropriate Setting up a trust when you'd be better off with a company Getting the wrong type of trust Selling a property from a trust in such a way that the depreciation is added back to the trust once or twice Failing to take the trust's end date into account Links and Resources: Michael Yardney Ken Raiss, director 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 this why not get the team at Metropole on your side – find out more here Get your own copy of What Every Property Investor Needs To Know About Finance, Tax and the Law. Shownotes plus more here: What is the best structure to buy your property in, yet protect and pass on your wealth, with Ken Raiss Some of our favourite quotes from the show: "Before people panic too much, there are things that can be done to amend trustees." – Michael Yardney "Many trusts have very broad definitions of who beneficiaries can be." –Michael Yardney "I guess one way of summarizing the habits of successful people could be: successful people start before they feel ready." –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

Almost 50 years ago I began my study of rich and successful people. Of course, not all rich people are successful. But I remember trying to understand why some people were rich while others kept struggling financially. Over the years I attended many seminars, paid mentors, and read as many books as I could on the topic of success. I modeled successful people and eventually grew successful myself. It wasn't easy, I've had my challenges in life (mostly self-inflicted) and I've hit rock-bottom, but I got up again, learned from my mistakes, and moved forward. Over the years, I grew a very substantial property portfolio, built a national business this has won multiple awards as Australia's leading property consultant and has been involved in over $4 billion worth of property transactions, and currently manages over $2 billion worth of assets for our clients. As you can imagine I have learned a few things about wealth and success along the way. And a byproduct of this is my top-selling book – Rich Habits Poor Habits — that I co-authored with Tom Corley and which has become an international bestseller and translated into a number of foreign languages including. In our book, we explain that being rich has little to do with the money itself. Instead, it has a lot to do with how you think about money. So, if you want to become rich, one of the first steps is to know how the wealthy think about money differently than you do and to start thinking like them. The next step is to take action and to let the action become natural by thinking the way wealthy people think. Unfortunately, we live in a society that teaches us that money equals success. Like many other things, money is a tool. It's certainly not a bad thing but, ultimately, it's just another resource. Regrettably, too many people worship it. Now, I didn't understand this when I began my study of rich and successful people more almost 50 years ago. Over the years I have learned that… Being rich has little to do with the money itself. Instead, it has a lot to do with how you think about money. This means that if you want to become rich, one of your first steps is to know how the wealthy think about money differently than you do and to start thinking like them. The next step is to take action and to let the action become natural by thinking the way wealthy people do and developing what we call Rich Habits. In the last month's Rich Habits Poor Habits podcast, Tom and I discussed some of the Rich Habits that are common among successful people, and in today's show, we are going to continue this discussion, so welcome to today's show. Rich Habits of Successful People If you've been reading my blogs or those of Tom Corley, or if you be listening to our monthly Rich Habits Poor Habits podcasts or you've read or RHPH book you will know that rich people share similar habits just the way poor people share similar habits. Now before you get too offended… We're not making a judgment when we say rich people or poor people – they are terms we're going to use to help clarify the different ways of thinking that 1% of people exhibit from the majority of the population. So, let's learn more about these habits, Maybe we should clarify what habits really are: Habits represent unconscious behavior, thinking, choices and emotions. A habit is formed when neurons (brain cells) talk to one another repetitively. Habits have a purpose. More Rich Habits of Successful People Rich and successful people align themselves with like-minded people. They understand the importance of being part of a team. They create win-win relationships. The poor believe money will make them happier, while the rich know that money has little to do with happiness, but it does make your life easier and more enjoyable. The rich don't blame (what's the point?) They take responsibility for their actions and outcomes (or lack thereof). They know there is no such thing as a rich victim. The poor believe it's wrong for a small group of people (the 1%) to possess most of the money. The rich welcomes the masses (the 99%) to join them. Successful people are not necessarily more talented than the majority, yet they always find a way to maximize their potential. They get more out of themselves. They use what they have more effectively. The poor believe that in order to gain something, you must sacrifice something else. You must choose between great family life and being poor, or love and being poor, but you can't have both. The rich know they can have it all if they have an abundant mindset. Successful people are solution-focused, rather than looking for problems or obstacles. Successful people are fearful like everyone else, but they are not controlled or limited by fear. They use it to empower themselves. The rich get up early. They know there's no shortcut so they work hard until they've accumulated a big enough asset base so they don't have to work hard anymore. The rich ask the right questions – ones that put them in a productive, creative mindset and a positive emotional state. They understand that the better the questions they ask, the better the answers they get, and the better the results they will achieve. The rich have clarity and certainty about what they want (and don't want) for their life. They actually visualize and plan their future while others are merely spectators of life. While the poor believe rich people are lucky, the rich know luck has nothing to do with their success. While the poor wait for their lotto numbers to come up, the rich don't expect Lady Luck to pay them a visit; instead, they aggressively pursue their dreams. While the middle class believes the road to riches is through formal education like a college degree or a master's, you'll find many of the rich never completed high school. They favor specific knowledge in their industry over formal education. They've learned to become more valuable by becoming an expert in their job. The rich are voracious life-long learners. They constantly work at educating themselves, sometimes formally and academically; but more often informally by asking, watching, reading, or listening and also experimentally by doing, trying, failing, and trying again. By the way… I'm not talking about formal education. Of course, it's worth realising that… We all have some of these Rich Habits and we all exhibit some disempowering Poor Habits. The big differentiator in the see-saw of life is: do you have more of the Rich Habits or more of the disempowering Poor Habits? The good news is that as you're learning about these concepts in our book the choice is yours. You can choose whether you will be a have or a have not. Links and Resources: Tom Corley - Rich Habits Michael Yardney - Metropole Get your own copy of our international bestseller Rich Habits Poor Habits 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: Learn These Rich Habits of Successful People | Rich Habits, Poor Habits Podcast, Part 2 with Tom Corley Some of our favourite quotes from the show: "I think one of the comments we've both made over the time is that any problem that money can solve isn't really a problem." – Michael Yardney "I think we both realise that if you do the hard things early in your life, the rest of your life's going to be easy." – Michael Yardney "You can get random good luck. And you can get random bad luck. But the successful people don't count on that." – 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 recently read an article in the Australian by leading demographer Bernard Salt that made me think. He posed an interesting question. He said, "imagine taking an Australian couple from the 1950s and placing them in our society today. What would surprise them most?" Would it be the internet or mobile phones or our general level of prosperity? Maybe it would be something seemingly unremarkable (to us) such as the ubiquitous use of plastic. Or maybe it would be the idea of wearing outer garments with slogans, brand names and images paraded for all the world to see. Perhaps it would be our accent – it would sound less Australian, or the pronunciation of some words which would have more of an American twang to them, or even some of the words we use. Terms such as 24/7 became popular after the turn of the century, which brought with it the alphanumeric concept of Y2K. Bernard Salt suggested that if this '50s couple were to wander around the CBD of any big city, he was sure they would be struck by the ethnic mix of the people, the cafes, the independence of women, and the absence of formal dress, with hatless men and gloveless ladies everywhere. I'm sure he's right. This got me thinking about what will change in how we live moving forward after the coronavirus pandemic. How is your lifestyle going to change? While this is an interesting academic question it is also an important question to ask ourselves as property investors, business people, or entrepreneurs. As we move through 2021, we're still getting regular reminders that even though life is more normal, the effects of Coronavirus will be with us for a long time. While some people are still looking back in the rear vision mirror to see what lessons we can learn to give us some guidance for the year ahead, let's look forward into the future as I chat with leading demographer Simon Kuestenmacher Simon is Director of Research at The Demographics Group, a columnist with The Australian, and a regular guest on this who is globally recognized as a rising star in the field of data management and insight and a regular guest here on my podcast. All trends point towards Australians looking inwards, focusing on family matters, embellishing the family home. Retail shifted online during the lockdowns but even after Australia opened up again online retail remained higher than expected before the pandemic. The changes in retail sales by industry sub-group also show how Australians are investing in their family homes. Major events don't just change the way we view the world but also change the way we want our homes to look. When Italians and Greeks moved to Australia, we transitioned from building English homes to building Mediterranean homes that allow us to combine indoor and outdoor living. After the millennial drought, we added water tanks to our homes. During the pandemic, we added veggie patches, additional storage (for food and toilet paper?), zoom rooms to the house, and changed the way we use our garages. Even after droughts, pandemics, and Mediterranean migrant waves are gone the changes introduced to our homes are still there. The current changes suggest larger homes will be in more demand. Customer behaviour also is linked to customer income. The story here is simple. The richer you are the less intensely the pandemic hit you. Tenant selection should be on an investor's mind. This data further suggests that lower-skilled workers will struggle to afford homeownership and will therefore be renters. Links and Resources: Michael Yardney As our markets move forward why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors. Join us at Wealth Retreat 2021 – click here to find out more Simon Kuestenmacher - Director of Research at The Demographics Group Shownotes plus more here: These are the big trends post-Coronavirus and they may not be what you expect with Simon Kuestenmacher Some of our favourite quotes from the show: "Even dress code seems to have changed. People are less formal post-COVID." – Michael Yardney "Sometimes we only look at what it costs to do something, and then when it seems too hard, we just don't do it." – Michael Yardney "You're never going to become rich if your money doesn't work for you while you're asleep." – 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

There are a lot of great things about being an adult, such as setting our own bedtimes and owning the pet of our choice. But perhaps most importantly, with age comes the wisdom and perspective we only wish we had when we were younger. So if you had the opportunity to go back in time, what would you have liked to tell your younger self? That's what I'm going to discuss today with Mark Creedon and even though we can't go back in time, we can reflect on the hard-earned knowledge we wish we had known then. And we can even use it to inspire our future selves. What would you say to your younger self if you could? When we are young, we think we know it all. We have our whole lives ahead of us, and the exuberance and energy to go after what we want. But our 20s can also be a time of great insecurity. We are hungry and ambitious but lack the experience to know how to calculate risk properly, follow our gut or learn from our mistakes. Put simply: we don't have enough runs on the board to make fully formed decisions. But what if you could have a conversation with your bright-eyed, 20-something self? If you could have given he or she some wisdom from the future what would it be? What would you warn them against or encourage them to do more of? Here are some of the things we discuss: Look after yourself Hard work to the exclusion of all else is not the answer. Take Calculated Risks You don't save money by doing everything yourself. 5. Get a mentor; get a few mentors and be prepared to pay for them 6. Choose your friends carefully Admire rich people 8. Educate and motivate yourself Make investing a priority Don't compare your life to others, especially on social media. Links and Resources: Why not join Metropole's Business Accelerator Mastermind 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 2021 – find out more here Shownotes plus more here: What's the best advice you would give your younger self? | Build a Business, Not a Job Podcast Some of our favourite quotes from the show: "I think I was probably too driven, too focused in the first part of my life." – Michael Yardney "I believe it's really important to choose your friends carefully, choose your friends wisely."— Michael Yardney "I don't particularly like employing people who haven't had failures in life. It means they haven't had a go." – 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

We're at the beginning of a new economic cycle, a new property cycle, and a new business cycle - a time when lifetime wealth will be created by some people, but unfortunately not by most. I was recently asked by somebody in my mentorship program how to make the rest of their life the best of their life – how to make the second half of their life much, much better than the first half of their life. And that's what I'm going to discuss with you into today's show. So today we are not going to talk about property or money, we are going to have a much deeper conversation. Of course, property and money are important but only as a means of achieving what do you want to achieve and that's really what we get to talk about today I'm going to give you some hints on how to take advantage of all the opportunities that are currently in front of us. One of the things I realized early in my investment career is that those who are successful think a particular way and that's why I spent a lot of time studying the psychology of successful people and that's one of the topics I'm going to be touching on today – so while a chat today may be a slightly heavier conversation than you used to – I believe it will be very valuable so I look forward to giving you some different insights into wealth creation, but before I do let me ask you a question? How is your peer group going? If you want to change your outcomes, have you considered upgrading your peer group? It's been said that you're level of wealth is likely to be the average of your 5 closest friends. Here are the top three reasons why your peer group matters so much: Your peer group's attitudes, beliefs, and behaviours are contagious. Alone you are vulnerable; connected we are strong. It's a lot more fun to build with other people than in isolation! A little about gratitude I'd like to chat a little bit about something that may initially seem unrelated to money and wealth and I think you probably have come to this podcast to learn about, but in reality, it isn't. Let's talk for a moment about gratitude. And here's why…Gratitude is a trait you'll find common to all wealthy people. You can have all the money in the world, the biggest property portfolio, the most profitable company, but if you're not grateful for what you have, you'll never be wealthy. We've all seen or heard of people who have lots of money but lead miserable, isolated lives. And we've heard of others with very few of the trappings of wealth yet who lead very fulfilling lives, very wealthy lives, because they are grateful for what they have. So, in my mind it's critical to be grateful. One way to make this the best year of your life is to be grateful for everything you have and for every day you have. And then tell people how you feel… Send a thank you note, send a text, a Whatsapp or better still do it the old-fashioned way and pick up the phone and show your appreciation to someone every day. One of the most interesting aspects of this idea of active gratitude is that it has a boomerang effect. You'll be surprised how it comes back in many ways to make you wealthy and to help make this your best year ever. But, actually that's not what I was intending to talk about with you today, so lets get back to some other ideas about how we are going to make this your best year ever. Let me make a bold statement… What you feel is true about what is possible for you will dictate what you achieve. What you want to achieve this year must come first and then you'll work out how. That's why you must have goals for your future. I know that once you become successful in business or your property investments it's sometimes hard to have big goals – you've achieved a lot already. Can you pick this one of the things I find common amongst the attendees of the wealth retreat – have achieved a lot of the big goals in unsure what to do next. So my question to you now is…what are your goals for this year? What are your goals for the next five years? What is your financial goal for this year and for the next 5 years? What are your physical and mental goals? What is your goal for your relationships? What are your career goals for this year? You see… in about less than 9 months you are going to arrive at the end of the year again. Are you going to arrive at the place you want to be at? The place you have chosen and have done everything you could to get there. Or are you going to once again say: "I didn't reach my goals." The "what" always comes before the "how." One of the things I've studied is how it is possible to retrain the brain. And I've based this Mentorship program on my findings. I studied to find out if it is possible to take a belief and put it aside if it doesn't serve you. Can one take a belief like "I'm not smart enough", "I'm not good enough" or "I don't deserve to have success" - is it possible to set those neutral network patterns aside and create new patterns in the brain? As you've learned from my blogs and podcasts your outside world is a reflection of your inside world. What you find in the outside world is a reflection of the words you've typed into the search engines of your mind. What are you typing into the search engine of your life? If you type poverty into Google, all you will find are the websites related to poverty. If you type in wealth - you find all the websites related to wealth. It's the same with the way you see the world - it's the same with the search engine of your mind - because you don't see the world with your eyes. The world is not what you think you see. What really happens is that your eyes allow light to come in and your brain deciphers what the light is, based on the patterns and images that it already recognizes. Based on the filters your programming has put in place - so firstly you filter lots out. You couldn't cope with all the information we are constantly being bombarded with, and then you interpret what's left with the files you have programmed in your brain. So if you're used to earning 50 or 60 or 70 thousand dollars a year, your software is conditioned to find that in the physical world. The good news is your software can be reprogrammed. Because as soon as you set the vision, your vision for where you want to end up, you are also giving instructions to your brain that that's what you want it to find for you in the physical world. Your brain is like a radio receiver and it can tune into what you want and tune out of what you want. Every time you have a thought your brain releases a chemical that relates to the emotion behind that thought. This chemical is felt by hundreds of billions of cells throughout your body. Now let's take this train of thought a bit further… Everything we want in the universe is right here, right now. I don't know if you know much about quantum physics - a fascinating topic, and something I'd like to touch on right now. Quantum physics suggests that everything we want in the universe is right here, right now. And as soon as we have a thought, as soon as we have the intention for something we don't have right now or something we want, we are actually causing a fluctuation in the nonphysical world - in the waves and particles of the potentiality that exists all around us. Quantum physics teaches us that everyone is a genius, everyone has the ability to create, to achieve whatever their heart desires. Of course, I'm not saying that when you have a vision, when you have a belief, everything will work out great for you. You know it won't! But it's important to have the right vision which will create the right vibration, but then you need to take action because if you don't take action nothing will happen. So why don't most of us achieve our goals? Why don't most of us take action? Let me be more specific. Why don't more of us take the right actions? Well… it's partly because our brain wants to keep us in our comfort zone in what's called homeostasis. Think about this for a moment… If we had a thermostat in this room set to 20 degrees and a cool wind comes in, the thermostat will pick up the cool breeze and send a message to the heater to turn up the heating and get us back in our comfort zone. If the temperature goes up because there's a number of people in the room, the thermostat picks the rise in temperature, and the air-conditioning kicks in and brings the temperature back to our comfort zone. A guided missile system works this way. The automatic pilot in a plane works this way. Guess what? We work the same way. We have a thermostat in our mind and any deviation in our performance - high or low - sets off a chemical in our brain that flows straight into our bloodstream, which causes you to have doubts, fears, and anxiety. Why? Because we like our comfort zone. We don't like being moved out of our comfort zones But the truth is change is happening all the time - you are either growing or you're disintegrating. If you want to take control of your life and make the decision to have your best year ever this year, it means you are going to have to move out of your comfort zone. It means you have to acquire new skills and you are going to have you apply different strategies. The key in business or in life is to understand that results just tell you about the past. So here is the key again... You've got to start out with the future, with those goals, with that vision, and then work backward from there. If you start out in the future with what you want and then build the belief systems underneath this to support the new vision, and you acquire the skills necessary and apply the right strategies then you will achieve predictable transformation and predictable results. Would you like to have predictable results in your life? There is a formula to achieve this. Most people are looking at their current results and saying "OK this year I want to increase these by 10 or 15% because that's what they think they can achieve. But at Wealth Retreat we don't just want to increase your results by 10 to 15%. I want you to take a quantum leap this year. But most people will never achieve this type of transformation because they don't understand that our universe operates by exact precision. It follows precise laws and there are no accidents. From the way your digestive system works to the orbits of the planets - it happens by exact precision and following precise laws. So for this to be your best year ever you're going to have to let go of being a victim and forget the past by altering your thinking You're going to have to create your circumstances by altering your behaviour. Create your circumstances by changing how you feel about yourself. You are going to have to upgrade your internal software - you'll have to turn up your thermostat. Now our gift is the ability to think differently if you want your life to change. That's what gives you and I dominion over the animals, the plants, and the minerals. It's our ability to choose our destiny. Our ability to choose our thoughts. And yes we have conscious thoughts and unconscious thoughts. And we have positive thoughts and negative thoughts. We have supportive thoughts and non-supportive. If we can have more positive thoughts and squelch those automatic negative thoughts, then you're going to be more of a positive vibration than a negative vibration which will allow you to attract everything you need to create your best year ever. The secret to having the best year ever and maybe it is not so much of a secret is to start with the vision of where you want to end up. Then you have to change your beliefs about yourself, about what's possible. When you think negative thoughts when you focus on what you don't want you will recreate more of it. Is that much of a secret? That when you think positive thoughts and you send positive good into the world and you do positive things to the world that it will come back to you? Is it possible that when you step up and step out of your comfort zone right now you can change your life? You see… I can't change your life. You can change your life. But you can't do it doing the same things you've been doing to get where you are. If what you want is different to your current results, I urge you to step out of your comfort zone, do what it takes so that when you finish this journey on this little blue planet you will go wow that was phenomenal. You owe it to yourself; you owe it to your family. You owe it to them to make this the best year ever. Links and Resources: Michael Yardney Metropole's Strategic Property Plan – to help both beginning and experienced investors Join us at Wealth Retreat 2021 on the Gold Coast June 12th – 16th – get more details here Shownotes plus more here: The right and wrong things to do to make the second half of your financial life better than the first half Some of our favorite quotes from the show: "I'm sorry to say that now that life is really good, being grateful is not an art I'm anywhere near a master of anymore." – Michael Yardney "The "what" comes first and then the "how."" – Michael Yardney "There is nothing more powerful than thoughts. It's how everything starts." – 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 took some time last weekend to look at some articles and commentary that came out about a year ago when the GVC (Great Virus Crisis) was just beginning. The media was full of negative commentary but in my regular podcasts my guests and I gave a much more measured commentary using our perspective gained from many years in the market, and as a result we were circled by a pack of "hangry" housing bears. They were all confidently growling that local house prices would slump by the largest margin on record. Of course, they were fuelled at that time by some crazy forecast from the banks and the perennial negative Perma Bears who were praying for the mother of all housing depressions. Now the media is full of positive news and most of the bears have gone back hibernating in their caves, but some are still out there telling us the upturn in our property markets is just temporary. We have an embarrassment of riches, with our economy and our property markets surging ahead. While much of the commentary is about the micro factors – what's happening on the ground in our property markets, I like to regularly get together with property commentator Pete Wargent in these "Big Picture" podcasts to look at the macroeconomic factors affecting our economy and the property markets to help give you some more clarity about what the future holds so you can make better investment and business decisions. No fiscal cliff at the end of March Remember how the property pessimists were worried that we would fall off the cliff due to the many deferred home loans? Many banks gave temporary relief to borrowers impacted by COVID-19, allowing them to defer payments for a period of time. However, APRA reports that as of 28 February, a total of $14 billion worth of loans are on temporary repayment deferrals, which is around 0.5 percent of total loans outstanding, down from $37 billion (1.4 percent of total loans outstanding) in January. Sure, lots of homeowners and property investors took advantage of the mortgage safety net, but they didn't need to use it and are now repaying their debts. We're not falling off of a fiscal cliff and our banking system is sound and stable – so it's a pity the Negative Nellys created so much stress amongst those who listened to them last year. Property prices and GST boost state budgets by $7billion The fastest house price growth in 32 years nationally has fuelled stronger than expected stamp duty revenues while also adding a feeling of wealth for existing homeowners. We know when we feel wealthy and secure, we will tend to spend more. This all good news to help continue boosting the post-COVID-19 economy. And this has a flow-on effect on government budgets. We know our governments have taken on more debt to help us get through the coronavirus crisis, but now it seems that State government budgets are a collective $7 billion better than expected as rapidly recovering housing markets and consumer spending lift goods and services tax and stamp duty collections run ahead of forecasts. Federal estimates of GST collections are already $5.9 billion ahead of where they were forecast to be just three months ago, while stamp duty estimates have improved in every state by more than a combined $1.5 billion compared to past figures. The latest home loan figures show that investors are back in the market The latest ABS figures show the value of new loan commitments for housing fell by 0.4 percent from a record-high $28.75 billion in January to $28.64 billion. On the other hand, investors are back in the market with lending to investors rising by 4.5 percent in February to 3-year highs of $6.94 billion, while lending to owner-occupiers fell by 1.8 percent to $21.70 billion. For owner-occupiers, the value of loans for construction rose 4.4 percent in February to a record-high $4.25 billion. Renovation loans rose 8.3 percent to 11-year highs of $322.4 million. Building approvals surging ​February saw another big upside surprise for dwelling approvals which leapt 21.6% in the month to be up 20.1%yr. ​The record house building approvals were driven by the government's HomeBuilder program which has now have sparked shortages of key tradespeople and helped push the price of materials up by as much as 50 percent. ​Rampant demand in the renovation and home building sector is hitting customers with significant delays and pushing up the price of materials. And disruptions to international supply chains are only making matters worse. ​​With dwelling approvals for houses at record highs, it's likely we will see additional pressure growing on construction costs as demand continues to build for residential construction materials and resources. The lift in residential construction costs is also placing upwards pressure on inflation where housing costs receive the heaviest weighting within the CPI 'basket' of goods. Although HomeBuilder has now been phased out at the end of March 2021, it's highly likely we will see a continuation in this trend towards higher residential construction costs as it will take some time for builders to work through the surging pipeline of house approvals. Job vacancies Despite the concerns of double-digit unemployment, 90% of the jobs lost over Covid have been recovered. In seasonally adjusted terms, job vacancies rose by 13.7 percent or 34,800 to a record 288,700 available positions in the three months to February. Vacancies are up 26.8 percent or 61,000 available positions in February compared with a year ago. Of course, JobKeeper has now ended and while there is some concern that more people become unemployed, the residential property boom if you're in strong demand for construction workers. ANZ Bank Forecasts A new report released from ANZ Bank predicts house prices at the national level will rise to a strong 17% through 2021, before slowing to 6% in 2022. What a turnaround from all the pessimistic forecasts all the banks made in the middle of last year. ANZ senior economist Felicity Emmett said she expected the Australian Prudential Regulation Authority (APRA) would then introduce macroprudential measures to slow house price growth into 2022. Also… it is unlikely that APRA will intervene with macroprudential controls any time soon, in light of APRA chairman Wayne Byres' comment this week when he reminded Parliament that its primary responsibility is financial stability, not soaring house prices, and it is not seeing activity right now that would compel it to intervene. Links and Resources: Michael Yardney Metropole's Strategic Property Plan – to help both beginning and experienced investors Join us at Wealth Retreat 2021 on the Gold Coast June 12th – 16th – get more details here Pete Wargent – Next Level Wealth Pete Wargent's new book Low Rates High Returns Shownotes plus more here: The Big Picture Economic and Property Trends You Must Understand, with Pete Wargent Some of our favorite quotes from the show: "March has come and gone, and there was no fiscal cliff." – Michael Yardney "I believe that good debt, debt against appreciating assets, is really an asset." – Michael Yardney "Once you realize that no amount of money is going to make you happy unless you shift your mindset into gratitude and abundance mode, you'll never be happy." – 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