Property Investment, Success & Money | The Michael Yardney Podcast

Some goals are very hard to reach. Some are not so hard. That's why climbing is often used as an inspirational metaphor for reaching new goals. It's well into a new year, you've probably set some goals for the year or even for the new decade. Today we're going to talk about climbing to the top of the mountain wanting to reach the top of the mountain, even though it's going to be hard, even though you know the trip will be long. I'll have a chat with Tom Corley. We'll show you how you can prepare yourself for the path you need to take to reach the top of the mountain. Everyone wants to be on top of the mountain but few are willing to make the climb When things don't go as planned, most people quit the struggle and move on to greener (meaning – easier) pastures. And the world is filled with quitters.Even for the vast majority who are content with just coasting along, life is still filled with problems. Most people want to minimize their problems.They don't want to add more problems to their lives. That's why self-made millionaires are so rare According to my Rich Habits research, only 3% who pursue a dream, stick with it until they succeed. At some point, 97% quit.Here's why. The pursuit of a dream, big goal or major initiative means – more problems. More obstacles to overcome.More stress. More emotional heartache, especially when things don't go as planned.And when you're pursuing a dream, big goal or major initiative, nothing ever goes as planned.The pursuit of success is all about facing problems. And realizing success is all about solving those problems you face along the journey.Not surprisingly, most avoid pursuing their dreamsThey look at the mountain they must climb and say to themselves – "too many problems".For the courageous few who throw caution to the wind and take action on their dreams, their life becomes a seemingly never-ending battle to overcome problems. There's just no sugar coating it – the pursuit of success is an uphill climb that requires many years of problem-solving.But, for the 3% who refuse to quit on their dreams, success is inevitable.Those 3% learn an enormous amount during their journey as a result of solving problems.Plus, when you persist, eventually you get lucky. Luck favours the persistent.That unexpected luck, like a ski-lift, carries you effortlessly up the rest of the mountain.The key, therefore, is to persist until luck finds you.When you get to the top of your mountain, the first thing you will notice is that there are not that many people.That's because all of the people are at the bottom of the mountain looking up at you. Everyone wants to be on top of the mountain. It's just that not that many people are willing to climb it. Links and Resources: Michael Yardney Tom Corley - Rich Habits Get your own copy of our international bestseller Rich Habits Poor Habits Show notes plus more here: Everyone wants to be on top of the mountain but few are willing to make the climb | RICH HABITS, POOR HABITS Podcast Some of our favourite quotes from the show: "Most people aren't going to keep their New Year's resolutions." – Michael Yardney "Those who get to the top of the tree recognize that the reward at the end is worth it. If it was easy, there wouldn't be a big reward." –Michael Yardney "I think the other thing that they need to get to the top of the mountain is to have a Sherpa, have a trainer, have a coach, have a guide to get them there. Somebody who's already done it a couple of times." –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.

You rarely see psychology discussed alongside business and investment, but I believe that psychology is foundational to entrepreneurial success. Your mindset matters when it comes to achievement. In today's episode, I'm going to chat with Pete Wargent and discuss his 6 rules for wealth creation. Some of them may surprise you. 6 Rules for Wealth Creation: Increase Your Self-Esteem – People with low self-esteem may unconsciously sabotage their own success, because they don't believe they deserve it. Work on retraining your brain to think positively. Think Long-Term – True wealth is built slowly over time. Follow this principle and exploit the power of compound growth. Study and Counsel with Wise People – If you want to be successful, learn from successful people. Mentors can help you realize your full potential. Pay Yourself First – Make yourself your first priority. Save and then invest a decent sum first, then pay your other bills. Control Your Expenditures – You need to know where your money is going. Study your expenditures and see how you can close gaps where you're spending money unnecessarily. Take Action – You can't be successful if you never make a move. Take massive and consistent action and refuse to give up. Links and Resources: Michael Yardney Metropole Property Strategists Rich Habits Poor Habits Michael Yardney's Mentorship Program Pete Wargent Show notes plus more here: Pete Wargent's 6 Rules for Wealth Creation Some of our favourite quotes from the show: "You can change the way you think about yourself, you can change your habits, you can upgrade your financial thermostat, and that's through personal development." – Michael Yardney "Most of what you do all day is unconscious, is at the subconscious level. You don't even realize it." – Michael Yardney "I think the message is spend less than you earn, and then save that difference, and overtime invest that money." – 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.

Who do you ask for property advice? With so many mixed messages and vested interests, who can you really trust? Our annual Property Investor Consumer Sentiment Survey revealed the many and varied sources that property investors consult for advice. But since most property investors fail to achieve the financial freedom they deserve, and with less than 8% ever owning more than 2 properties, a better question to ask would be…who should you be asking for advice? Today's podcast is designed to help you cut through the clutter: Let's start with who could you ask for property investment advice? Here are the people you could turn to: No One Friends or family A real estate agent A mortgage broker An accountant Financial planners A property marketer Investment seminars and workshops A property mentor A buyer's agent When you look at this list you can now see why you need… an independent, unbiased property adviser or strategist. In my mind, it is critical to have a trusted advisor when making property investment decisions. It's just too hard to do it on your own or by trial and error. There's a huge learning fee involved — of time, money, effort and heartache. Here's a list of some of the things a good property advisor can (should) do: A good advisor will first start by getting to know their clients' hopes and fears and then be future-focused to help them achieve their long-term financial goals. With so many mixed messages about property investing out there (many coming from parties with vested interests), a good property advisor will help remove his client's anxiety by simplifying the complex. While most buyers' agents or property sales people are transactional and think of the current "sale" or purchase, a professional property advisor will aim to develop a long-term relationship and help their clients understand the next two or three steps even before taking the first step. Many clients come to a real estate advisor looking for the next big thing — some are looking for a shortcut, or the next hotspot, or a way to get rich quickly.Instead, a qualified property strategist will stop their clients speculating by recommending proven strategies that have always worked. A good independent advisor will not have any properties for sale but will have a list of potential options and refer their clients to a buyer's agent who is part of their team to find the best opportunity in the market to suit their client's budget, plans and risk profile. A strategic advisor will never put any pressure on their client to make an investment decision, but their knowledge, research and experience will help their clients select an investment property that is the highest and best use of their funds, and one that will work hard for them over the long term. A wise property strategist will help their clients avoid the big mistakes made by the average investor and will earn their fees simply by helping their clients avoid the devastating errors made by many investors such as those who lost significant amounts of money by investing in mining towns, regional locations, house and land packages or off-the-plan properties. By being a student of history, a good strategist will be able to provide perspective, insights and often optimism at a time when the media is being pessimistic, and vice versa. They will also advise their clients to invest their money the way they do themselves — they must be experienced investors — not enthusiastic amateurs. A good strategist will regularly meet with their clients to objectively assess the performance of their property portfolio and ensure they are heading in the right financial direction. As you can see — it takes years of learning, experience and the perspective that only comes from investing through a number of property cycles to become a great property strategist. Let's look at some things a property advisor can't do: Even a good advisor cannot predict the future. They won't be able to tell you how the market will perform, what will happen to interest rates or what capital growth rate a particular property will achieve. They won't be able to find the next hot spot for you, yet many so-called advisors suggest they can. In essence they give their clients what they are requesting, rather than what they need — sound, solid advice. Even the most qualified advisor won't be able to pick the best time to purchase an investment property other than to remind you that the best time to invest was 20 years ago, and the second best time is today. A good advisor won't be able to help you get rich quickly or achieve extraordinarily high returns without taking on extra risks. What is the difference between a property strategist and a buyer's agent? Buyers agents are order takers — they will fill an order given to them to find you a property and will be biased towards the areas they have expertise in, but this may not be in your best interests. Only a property strategist has the expertise to design that "order" to suit your specific needs. They will be your long-term wealth creation partner, annually reviewing the performance of your property portfolio, and will provide recommendations on any opportunities as well as when it's best for you to do nothing. Here are some signs that you're dealing with a property spruiker. They have a one-size fits all approach They don't talk about the risks They talk a lot about investing but don't do it themselves Beware of someone who: Has a stock list of properties to sell you. Offers you a property rather than an investment strategy. Red Flags Gives "advice" before they've found out all about you, your needs, your plans, your risk profile. Offers a "one stop shop." Particularly if they want you to use their lawyers, rather than your own who should vet any contract carefully. Tells you that negative gearing is a sound property strategy (because it's not an investment strategy at all — it's a consequence of how you finance your property.) Suggests property values always keep rising. Offers a rental guarantee to sweeten the deal. Pressures you into saying yes quickly to whatever it is they're offering, whether it's deciding to attend a seminar, signing up with their company to gain advice and any other sales tactics. Downplays the risks and related costs that are involved in property investing, and/or has an inability to substantiate their claims of profit and success. If they've helped so many people achieve success, where is the proof of that? Links and Resources: Michael Yardney Metropole Property Strategists Rich Habits Poor Habits Michael Yardney's Mentorship Program Show notes plus more here: How to choose a property advisor and avoid property spruikers Some of our favourite quotes from the show: "While they may know their local neighborhood, that's very different to understanding property markets and property investment." – Michael Yardney "Some mentors are thinly-disguised salespeople." – Michael Yardney "Put simply, if the advice is free, you're the product." – 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.

Well, it's the beginning of the New Year, in fact, the beginning of a new decade. It wasn't that long ago I remember the turn-of-the-century when we were all worried about the Y2K bug. All those predictions of mayhem that didn't occur. In fact, we are now 20% through the 21st century – that's a scary thought isn't it. So, what's ahead for the new decade? I'm sure there will be lots of scary predictions, and my first prediction is that most predictions will be wrong. But to get an idea of what might remain the same over the next decade and what might be different let's have a chat with Australia's leading housing economist Dr. Andrew Wilson and chief economist of myhousingmarket.com.au What will stay the same: Australia's population will keep growing and adding around 400,000 people per annum Net migration will account for over half this increase The population growth will remain concentrated in Melbourne, Sydney, and Brisbane We'll have the requirement for 170 -190,000 new dwellings each year Property prices will continue to increase because Australians including the hundreds of thousands of new migrants will continue to aspire to homeownership. Property investment will remain the way many Australia's secure their financial futures and more Australian's will turn to property investment as the returns for other asset classes dwindle. The property pessimists will still be out there telling us our property markets are going to crash Property spruikers and get rich quick artists will still be there taking money from naïve property investors looking to get rich quick More of us will move to medium and high-density living – apartments and townhouses – the dream of owning a quarter acre block will be nearly gone The younger generations will continue to leave regional Australia for the big smoke What will be different: Low interest rate, low inflation, low wages growth environment Cycles may be flatter because of the above Most Baby Boomers will have retired and Gen X will be coming up to retirement age Pension system won't be able to cope, and superannuation won't be enough to support your longer life 30-40% of the jobs we know could disappear in the next decade Links and Resources: Michael Yardney Metropole Property Strategists Dr. Andrew Wilson, chief economist of MyHousingMarket.com.au Show noters plus more here: What's ahead for property in this new decade? With Dr. Andrew Wilson Some of our favourite quotes from the show: "If we want to decentralise, there's going to have to be some different policies." – Michael Yardney "People are going to trade backyards for balconies and courtyards, they're going to want, as our cities become bigger, be in closer proximity to amenities, to lifestyle, to public transport." – Michael Yardney "Owner-occupiers go into the market with very different headspace than investors. So, it's lovely to be able to invest in a market that's not dominated by investors." – 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

Depending upon when you're listening to this, it's either just about to become a new year, or you're already into a new year and a new decade. Today, I'm going to discuss twelve things that are going to change over the next decade and ten things that are not. This is the end of my fifth decade investing in property and being able to look back and see what's gone on gives me some great perspective on what's ahead. I've done a lot of research for this, and whether you're interested in property as an investor or a homebuyer, you'll get a lot out of today's episode. The difference between Expectations and Forecasts There is a huge difference between, "I expect another next property downturn sometime in the next decade" and "I expect the next property downturn in the second half of 2024." One of the big differences is how I invest. If I expect another property boom followed by another property bust, I'm not surprised when they come. But since I don't know when they'll come, I won't make the focus of my property investing trying to time the property cycle. Because trying to time the property cycle is one of the reasons many property investors fail. On the other hand, strategic investors maximise their profits during booms and minimise their downside during busts by investing in assets that have always outperformed, rather than looking for the next hot spot or for the type of property strategy that works "now" rather than one that has worked in the long term. They own investment-grade assets in investment-grade inner and middle ring suburbs of Australia's three big capital cities. The type of property that keeps growing in value over time without fluctuating wildly in price when the property cycle slows down. What will stay the same: Australia's population will keep growing and adding around 400,000 people per annum. We'll have the requirement for 170 -190,000 new dwellings each year More congestion on our roads. Property prices will continue to increase - The property cycle will continue, Ordinary Australians will try to secure their financial future through property investment The property pessimists will still be out there telling us our property markets are going to crash Property spruikers and get rich quick artists will still be there taking money from naïve property investors looking to get rich quick More will move to medium and high-density living – apartments and townhouses – the dream of owning a quarter acre block will be nearly gone The property pessimists will still be there telling us we're in a bubble that will burst We will be living in the best country in the world at the best time in history What will be different: We will have a long period of low-interest rates and we'll be in a low inflation environment for much of the decade. This means we won't get the same level of capital growth as we have in the past In line with the low inflationary environment, most Australians will experience limited wage growth over the next years and this will impact on their ability to afford property. Lower levels of homeownership Future property cycles may be flatter because of the above – you will still be cycles but lower highs and higher lows. More people are living in blended households. Household size is increasing according to the census. The proportion of those living alone or as a couple over 60 years of age will have increased too, especially women over 60 years; sadly, most with limited financial means. At the other extreme, there is an increase in those living alone or as a couple, plus an increase in blended households as noted above – coupled with a drop in what many still think is the standard Aussie household, mum and dad and 2.5 kids. Plus, the mix from overseas has changed, with more migrants now coming from those countries with large family units. 30-40% of the jobs we know could disappear in the next decade and there will be casualisation of the workforce Most Baby Boomers will have retired and Gex X will be coming up to retirement age Pension system won't be able to cope and super won't be enough to support your longer life China will become more powerful Maybe a cashless society New technology we haven't even dreamed of Links and Resources: Michael Yardney Metropole Property Strategists Brett Warren, Director Metropole Properties Brisbane Sow notes plus more here: A dozen things that will change in property over the next decade and 10 things that will stay the same Some of our favourite quotes from the show: "In my mind, there's a big difference between expectations and a forecast." – Michael Yardney "I've found it's more practical to have expectations without forecasts." – Michael Yardney "The rich are getting richer, and that's because they own assets. So even though their incomes haven't gone up, their assets have increased in value." – 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

Would you like Lifetime Wealth? Well…today we'll explain what that means and how you could achieve it as I replay a chat I had with my good friends Louise Bedford and Chris Tate from The Trading Game as we discuss the concept of true wealth. How to Obtain Lifetime Wealth Michael shares how he bought his first investment property over 40 years ago. He's made plenty of mistakes, but has still built a substantial property portfolio. He also gives back. To be truly wealthy you need much more than just money. You need money plus family, friends, health, spirituality, growth, and contribution. Chris shares his background. It is similar to Michael's but replace the word property with shares. How children absorb things without being taught directly. Legacy and leaving a ripple or something outside of you that carries on when you are gone. We learned about money, wealth, and riches from our parents and culture. What is your financial thermostat set for? You'll be surprised – it's set for what you have already got. Your thermostat won't change until you change and throw away the blame. The imposter syndrome or undeserved success. Not feeling worthy and self-sabotaging. Self-awareness deserving your success. How people believe the tool has something to do with their success, when it is actually the software that makes a success. How people who's views are mismatched may not be a match as a couple. The disconnect can produce tension and tear relationships apart. Couple's need to talk about their views about money. Partners need to be compatible on a whole host of issues. In the old day's people passed their trades on. Now property or shares can be passed to your kids, but it is not what you leave your kids it is what you leave in your kids. How we learn about money from our parents whether it is spoken or unspoken. Replacing non-productive beliefs with empowering beliefs. Teaching kids about training by loaning them money to trade and letting them keep half of the profits. How IQ and socioeconomic status can be linked. The importance of mentorship and getting together with other entrepreneurs. Find like minded people and the isolation disappears. How attending Wealth Retreat can help change your mindset and money habits. Links and resources: Michael Yardney Metropole Wealth Retreat Chris Tate Louise Bedford Our favourite show quotes: "Wealth isn't about how much money you have, but what you're left with if you lost everything and had to rebuild it." Michael Yardney "You either have to pay the world, the market, or your mentors when learning about investing." Michael Yardney "If you took all of the money in the world and divided it equally it would all end up in the same pockets again." Michael Yardney

There are so many common misconceptions that people just don't question. In fact, there's so much misinformation surrounding wealth creation, that in today's episode, I'm going to debunk 15 common myths. If there's one thing I've learned, it's that you shouldn't allow these kinds of blanket statements to hold you back. In this episode we'll explore these statements and help you avoid the "woulda, coulda, shouldas." Money doesn't discriminate; it doesn't care who you are or where you come from. No matter what you did yesterday, today begins anew and you have the same rights and opportunities as everyone else to become wealthy. Yet the sad reality is that the majority of Australians will never achieve financial freedom. On the other hand a small group of Australian property investors become very wealthy. Today I'd like to explore the common myths about money that hold many people back from achieving their financial goals. Myth # 1: It takes money to make money Many Australians have untapped equity in their homes that they can use as seed capital for investments, while others will have to learn the discipline of saving to get some startup capital. You don't need a fortune to begin making your first million; you just need to commit to making a start and stick with it. Myth # 2: I don't make enough money Everyone makes enough money to become an investor. The truth is most people don't have an income problem, they have a spending problem. Look at your current wage and ask yourself; how much am I likely to earn over my lifetime? You've got to start living within your means, paying yourself first, saving a deposit for a property and investing in order to break your current pattern. Myth # 3: My job and superannuation will take care of my financial future If you accept my definition of financial freedom as having enough passive income to finance the lifestyle you desire, without having to work; you will never achieve this through your job or superannuation. Instead you will need to take control of your financial future by investing. Myth # 4: I'm not smart enough In our country everybody has the ability and opportunity to become rich. To reassure you that an education doesn't equal a financial fortune, here are a few multi-millionaires who never graduated from college: Bill Gates (Microsoft), Michael Dell (Dell Computers) and Steve Jobs (Apple). Myth # 5: Investing is complicated Developing your own financial freedom is only as complicated as you make it. Investing is no different. The key is to learn from the right people – those who've already achieved what you want to achieve. The process is also simplified when you select an investment niche such as residential property investment and develop specialist knowledge in that area. Myth # 6: Investing is risky Many people speculate when they think they are investing – they buy a property in a secondary location or off the plan "hoping" it will increase in value. Speculation is risky. On the other hand finding a property with an element of scarcity so it will always be in strong demand, in an area that has always outperformed the averages and buying it below its intrinsic value, is a proven investment strategy that minimises your risk. Myth # 7: You have to know how to time the investment markets It's often said that timing is everything when investing, but that's not really the case. Have you noticed how some investors do well in good times and do just as well in bad times, while others do poorly in good times and even worse in bad times? This suggests to me that it's not our external world that determines whether we make money; it's something inside us - our mindset. Myth # 8: The rich are lucky The truth is that success in wealth creation is no more about luck than is success in anything else in life. To become wealthy you have to be in control of your finances and not count on good fortune. Myth # 9: To become rich you must diversify Wrong! Yet that's what most financial planners suggest isn't it? Diversification leads to an average outcome. Myth # 10: Paying off your house provides security The problem here is that once you've paid off your house, you end up with idle equity sitting under your roof doing nothing; equity you could use as a deposit to buy an investment property and grow your wealth. Myth # 11: All the good investments are taken That's not true – opportunities are always out there – in every market. Sure, all of yesterday's deals have been taken, but tomorrow's deals have not. Someone will snap them up. Why shouldn't it be you? Myth # 12: If you want to do it right, you have to do it yourself There's no such thing as a self made millionaire. All successful property investors have a good team of professional advisors and supportive mentors around them. The rich recognise that they can't be an expert in all aspects of wealth creation, so they find a team of experts they can lead in order to help them achieve their goals. Myth # 13: I've done everything wrong! It's too late There are many success stories of people who conquered all sorts of adversity, or started investing later in life and ended up achieving financial freedom. In fact Ray Croc was over 50 years old when he built his very first fast food outlet. You might have heard of it – it's called McDonald's. Myth # 14: Debt is bad Most Australians believe debt is a dirty word, but not all debt is bad. Savvy property investors know how to use good debt to buy appreciating assets. Myth # 15: It doesn't matter what I want – I just can't do it Subscribing to this myth is almost a guarantee of failure, because our beliefs and perceptions become our reality. There's no way money can know who's in control of it, what their qualifications are, what ambitions they have or what they're going to do with it. Money is there to be used and spent, saved and invested. It can't judge whether you're worthy or not. Now that you understand some of the myths that have held so many people back, the good news is you can do things differently. Choose to change your beliefs to produce outrageous results and reach every goal you set. Links and Resources: Michael Yardney Metropole Property Strategists Metropole's Strategic Property Plan – to help both beginning and experienced investors Some of our favourite quotes from the show: "Despite what some people believe, it doesn't really take a lot of money to make money." – Michael Yardney "Successful people come from different backgrounds and while some have university degrees, others never finished high school." – Michael Yardney "It's never too late to learn how to invest. It's never too late to overcome your mistakes." – Michael Yardney More details plus show notes here: Fifteen wealth myths that hold you back 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

The facts are in again, and they show that the rich are getting richer. If you're a regular listener, you know that we've said that on many occasions. But today I'm having a conversation with Michele Levine, CEO of Roy Morgan, Australia's longest-established research company who recently released an Australian wealth report that's very different from all the other reports. We're going to dig in and explain what's really been going on over the past 10 to 15 years with some interesting findings. We chat about why the rich are getting richer and why the average Australian hasn't moved forward with their wealth over the past decade or so. We're going to explain about men and women and why their wealth has changed. Hopefully, this information will help to put you in the right position to become wealthier. Then, in my mindset message, we're going to discuss why you don't want to cover the world in leather What does that mean? Listen in to find out. Key Takeaways from the Australian Wealth Report The rich are getting richer, but on average, Australians are all getting richer In Australia, the top 10% of people hold 47% of the wealth The bottom 50% hold 3.6% of the wealth The data shows that while Australian's wealth wobbled a bit during the global financial crisis, it didn't hit Australians anywhere near as hard as it hit other countries. Australian wealth has almost doubled since the GFC Just before the GFC, Australians held 4.5 trillion dollars Now it's 8.6 trillion, or 90% more wealth Of Australia's 8.6 trillion dollars in wealth, about 6 trillion is in property Australia's debt is about 1.2 trillion Looking at the median wealth for individual Australians, it's down a little bit – about 2% The top 30% have increased by 60-65% The bottom 30% have gone up by similar amounts But the 40% in the middle haven't seen the same level of increase. Their increase has been around 20%. When you apply a CPI adjustment, you can see why the people in the middle feel less wealthy. Women still trail men in wealth. The average man has $445,000 in net wealth. The average woman has $393,00 In 2007, women had 80% of the male average wealth. Now they have about 88%. They're catching up, but they're not there yet Links and Resources: Michael Yardney Metropole Property Strategists Michele Levine, CEO Roy Morgan Research Institute More details and show notes here: The latest Australian Research is in. Here's what's happening to your wealth Some of our favourite quotes from the show: "Even though there are headwinds ahead, we're still living in a fantastic time and we're lucky to be in Australia." – Michael Yardney "That's how we tend to approach things. We think if we can just get rid of them, or cover them with leather, our pain's going to go away." – Michael Yardney "If you put on shoes when you walk across the boiling sand, the cut glass and the thorns won't bother you." – 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 have all experienced stress. Whether it is at home, at work, in our own business, stress feels an unavoidable part of our busy lives. It's the unavoidable part I want to focus on. It may be that seeing stress as something we should seek to avoid is what actually heightens its negative impact. Rather than seeing stress as something to avoid or a necessary evil there are ways in which we can look at stress as an opportunity. Stress is actually mental energy that can be harnessed. Stress basics: It's worth remembering that stress is a neuro physiological reaction to danger. When we stress and allow that stress to have a negative impact, we become physically tense. Blood flow is restricted to our muscles and even to our brain. Stanford University's Kelly McGonigal refers to this process and the connection to stress headaches. As our muscles are deprived of blood flow, we often feel tired, lethargic and may even suffer from stress-related aches and pains, not to mention lower resistance to infection, making us unwell. Step 1: change the view and harness the stress Let's go back to when stress was a valuable tool to warn us of danger. When the caveman or woman stepped out of the cave they had to determine whether that rustling in the bush was, in fact, a Sabretooth tiger. Stress in that situation is used to protect, blood brings more glucose to muscles to prepare to fight and more oxygen to the brain for clearer thinking. The point is that when stress presents itself, we are far more likely to be able to cope with it if we can change the view of it, in other words, we turn it from foe to friend. Step 2: Remember Stress builds Resilience Military training shows soldiers how to grow from stress. Dan Pronk talks about the physical, emotional and psychological stress special forces soldiers are placed under. The purpose of that generated stress is to build resilience, to help them to become stronger, learn, grow and to use the stress responses in a positive way. The point here is that if you take the right mindset approach to stress then you can actually use it as a tool to grow and improve. Next time stress rears its head, take a look at the cause and ask yourself how you can turn your approach into one of a challenge to be accepted or an opportunity to be capitalized on rather than a sign of defeat. Step 3: Remember there is always help No matter how diabolically stressful a situation may be it is important to remember that help is ALWAYS available. Thinks about some of the terrible things you see on the TV news, whether its fires, riots. Terror, in each case, as the news shows footage of people fleeing and running for their lives there is always someone running the other way, toward danger, to help! Helping is a huge part of normal human behaviour and not just the realm of professionals, so it's worth keeping in mind that when stress hits, reach out. That's the benefit of a mastermind. Remember these four things: Stress is normal, we all encounter it. Your body's natural response to stress is actually designed to help not hinder Stress can actually help you to grow, learn and build resilience There is always someone who can help. 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 Show notes plus more here: Here's how to deal with stress in a positive way | Build a Business, Not a Job Podcast Some of our favourite quotes from the show: "This is just part of the journey, part of climbing the mountain. And not many people are prepared to take that climb, that makes you breathe harder and your pulse run faster." – Michael Yardney "Rather than when something happens, letting it ruin your whole day, somebody who's learned how to cope with stress keeps these inconveniences in proper perspective." – Michael Yardney "Isolation is one of the challenges successful business people, entrepreneurs, and professionals have, but it's one of the things that causes their stress as well." – Michael Yardney Show notes plus more at the show webpage: Here's how to deal with stress in a positive way | Build a Business, Not a Job Podcast 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.

If you want to become a more successful property investor, today's show will point you in the right direction. First, we'll have a chat about where not to invest. This aren't just my thoughts. They are the results of a recent university study in Australia that shows where you shouldn't invest. Most property investors never get past their first or second property. You don't want to be in that group, do you? So paying attention to where not to invest can help you avoid falling into the trap that so many investors do. I also have an interesting mindset message for you. Finally, I'll have a chat with Dr. Andrew Wilson about first home buyers, because they're going make a difference to our property markets. This discussion is relevant for first home buyers, but it's also very relevant for property investors, as they're often investing in the same price ranges and markets as first home buyers. We'll discuss our concerns about the first home buyers' scheme that's going to be starting soon. We'll also look at what has happened when we had these schemes in the past. Where not to invest if you want property success Most property investors never achieve the financial freedom they're looking for. Of the 2.1 million property investors in Australia, 1.8 million never get past their first or second property while only 21,000 investors around Australia own 6 or more properties. A recently published report found that two-thirds of Australians buy an investment property close to where they live, rather than in another location that could outperform their hometown in the long run. These buyers felt safe buying in a familiar location, but there's no indication that their familiarity actually gave them an advantage. The report also found that investors who invest in their own area pay higher prices and that one-fifth of investors self-manage their properties. Self-management can be a big mistake. Employing a property manager is a way of insuring your asset. It's an investment, not an expense. Buying locally and putting all of your eggs in one basket may feel safer, but that doesn't mean that you'll get the best return on your investment. Becoming a success in property investing requires more time and effort than just choosing properties near where you live. But it doesn't necessarily have to require your time and effort. Turning to a buyers' agent who has more market knowledge can help you get the strategic advice you need to invest in properties that are likely to outperform. First Home Buyers rush to market fearful of rising prices As of 1st January, the First Home Loan Deposit Scheme will allow first-home buyers to put up a 5 percent deposit, rather than the usual a 10 or 20 percent deposit. This will only be available for 10,000 eligible first-home buyers each year, and there are other restrictions as well. First-home buyers wanting to use the scheme will be limited to properties sold for less than $700,000 in Sydney, $600,000 in Melbourne up to $475,000 in Brisbane and it will apply to owner-occupied loans on a principal and interest basis. Price caps for large regional centers are the same as those for the capital city in their state. It also removes the cost of lenders mortgage insurance for first-home buyers with an annual income of up to $125,000 or couples with a combined $200,000 per year. If history repeats itself, these first-home buyers will push up values in certain locations. It may also commit first-home buyers to long term financial imprisonment Why is that? First-home buyers emboldened by the home loans obtained with their low deposits will be chasing a similar range of properties and the old supply and demand ratio will kick in pushing up property prices. First-home buyers who miss out on the lottery could end up paying more for their properties or have to wait another year for the next round of grants, by which time property values will be even higher. New homes come with a lot of extra expenses and those who haven't developed a savings discipline could find themselves in financial strife. They'll have to pay interest on a larger mortgage, but then they're likely to go out and buy furniture and appliances as well, creating even more debt. This reminds me that the Government should be careful of the unintended consequences of hastily though out policies. Links and Resources: Michael Yardney Metropole Property Strategists Metropole's Strategic Property Plan – to help both beginning and experienced investors Dr. Andrew Wilson, chief economist of MyHousingMarket.com.au Show notes plus more here: - Where not to invest if you want property success | First Home Buyers rush to market fearful of rising prices Some of our favourite quotes from the show: "Knowing your local area is not the same as understanding the dynamics of the local property markets and understanding what does or does not make a good investment property." – Michael Yardney "If you just knew how resilient you are to life events, you'd take more risks." – Michael Yardney "The key lies in your ability to adjust your expectations when things don't go right." – 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