When James McLellan was a kid, money was an issue. To the point that it ultimately resulted in his parents’ separation.
You see, today’s guest grew up in a small country town of about 1,200 people — and ever since he can remember, money was a stressor. To make matters worse, his mum tried her hand at investing, choosing to self-manage her property, which unfortunately was tenanted by folks who had money problems of their own. The result? Even more pressure on the family finances. So not only was money tough, but also James was left believing that property investing was something to fear…
But wanting to overcome his money back story, James made it his mission to work hard — committing to his first job at just 13 years old where he cleaned out the diesel pits at a mechanic for $5 an hour every Saturday morning.
And even though he was scared of investing, he knew that if he wanted to move the dial on his own wealth, he’d have to take the plunge. So he kept working worked hard, and at 22, while still at uni, he saved enough for his first property…. A 2 bedroom unit in Albury-Wodonga for $170,000…
And now? Well, as well as having THREE properties to his name and overcoming his fear of property investing, as you’re about to hear, he’s walking proof that just because you come from a background where money was tough… it doesn’t mean you’re stuck for life! And James was able to show once and for all that this can be accomplished… even at 29 years old!
- FREE BOOK! (the Money SMARTS “manual”)— Make Money Simple Again
- FREE TPC MyWealth Portal (the system that implements Money SMARTS for you) — http://thepropertycouch.com.au/financialpeace
- Episode 258 | WARNING: The Unconscious Mental Triggers Property Spruikers Use To Trick You: https://thepropertycouch.com.au/ep258-property-spruikers/
- Peter Koulizos podcasts: https://thepropertycouch.com.au/guest/peter-koulizos/
- Learn from the REAL Property Investment Experts (new online course): https://www.start.thepropertycouch.com.au/look-find-buy
- Jame’s website: http://peaksurveydevelopments.com.au/
01:50 – Why was money an issue growing up?
03:35 – Lessons learnt from self-managing an investment property
04:05 – How much is his 1st property?
06:20 – Does James value money differently considering his backstory?
08:15 – An insider’s view of attending a Spruiker seminar!
10:26 – Why do you need to be careful of “instant equity”?
11:15 – How did James avoid the Spruiker’s sale pitch?
14:59 – The 2nd property
16:23 – Is it worthwhile using a Buyers Agent?
18:15 – Why did James find a strategic investment Plan useful?
20:28 – When did he get this Plan & where is he at now?
25:30 – When money was tough…
26:56 – How do you plan for kids and a passive income?
30:15 – What’s the best tip he learnt from The Property Couch?
32:29 – James’s personal advice for listeners
33:38 – How to Spot a Property Spruiker
36:15 – 5 top things James wants property investors to know now