What would you do if you arrived from Fiji to Australia with only $4,500 to your name and little else? Well, that’s exactly what today’s guest, Victor Kumar, Partner at Right Property Group, and his wife did in 1997. And their story is truly extraordinary! Within 1 and a half years in Australia, the radiographers—thanks to reading The Wealthy Barber and Building Wealth Through Investment Property, learning as much as they could about property investment, lots of hard work coupled with a steel determination —had secured their own PPOR as well as 11 investment properties!
Here to explain how he did it, the co-host of Investing Insights with Right Property Group podcast, Victor Kumar, explains:
- How he chose a mortgage broker to get the loan he was first rejected for
- Who to take your advice from (aside from Jan Somers and David Chilton)
- The difference between money and mindset, and why goal setting is crucial:
“The very first thing is: you’ve got to sort out your goals—why you’re doing it and what are you aiming for—before you start the journey. Most people start the journey and then try and get the GPS up-and-running to say we’re they’re going.”
- Victor’s reason “why” he invests in property—and why it is crucial to know your “why”
- A simple, easy habit anyone can do to outsmart a spruiker and determine if the property seminar is genuine
- His investment strategy, how he accumulated such a ginormous portfolio and if he would do it again
- A few of the mistakes and lessons learnt while building his portfolio (and they’re hilarious!)
- When to DIY and when to always pay for professional services
- What factors to consider if you are investing in the outer suburbs?
- His renovation “Life Hack” and why it’s the most important renovation tip to add value
- What are the three things that can ruin a property portfolio?
- How to manage multiple investment properties and the problems with investing in too many properties
- Special: Victor unpacked an amazing tip at the 55-minute mark. So make sure you don’t miss that!
Note: Victor brought enough gold to the couch to create a mining town … let us know if you agree! What to do and what never, ever to do … wooooaaaah, thanks Victor!
Some other resources for our fellow listeners:
- Our chat with Steve Waters back in Episode 42 – Listen here
- LocationScore’s Launch Offer is expiring this Sunday, 20th August 2017! (Code: TPC20) – Check it out here