476 | From $30k Debt to a $2.78M Portfolio: How He Rebuilt His Finances and Confidence After a Failed Business Venture – Chat with James

 

Imagine waking up to find yourself $30,000 in debt with a restaurant business turned bad and a great deal of self-doubt left in its wake.

Now fast forward a decade or so to find… 

You’ve amassed a $2.78 million property portfolio; you are now confident on your path to helping others and you are financially empowered.  

This is the rollercoaster ride of James, today’s articulate and inspirational Summer Series guest. 

From growing up “material poor but experience rich” in the heart of Canada (You’ll have to tune in to find out how this Aussie family found themselves in the remote province of Manitoba) to running a successful bar business that ended in disaster, we’re tracing the peaks and troughs in James’ career and financial life. 

Together, we unpack how he snowballs out of this debt, the advantages that come from having a wonderful accountability partner and wife, and his passionate pathway to self-development. 

Plus, we’ll dive into that heart-dropping moment that this self-professed “enthusiastic amateur” realised HE was working alongside spruikers 😮  

Yet another fantastic story that highlights the importance of smart money management, resilience, the power of financial education and so much more!  

Thank you for coming to the couch to share your story, James! Listen now folks.

 

Free Stuff Mentioned

• DOUBLE DOWN ON YOUR NUMBERS – Check out the Moorr platform that automates MoneySMARTS for you!  
• FREE BOOK!— Make Money Simple Again 
• FREE BOOK – The Armchair Guide To Property Investing 
• The Binge Guide – The First 20 Episodes 

 

Timestamps

• 0:00 – From $30k Debt to a $2.78M Portfolio: How He Rebuilt His Finances and Confidence After a Failed Business Venture – Chat with James  
• 1:22 – Welcome James!  
• 2:43 – Travelling Family and Two-Dollar Chores  
• 7:09 – “Materialistic poor but experience rich”  
• 8:16 – A 6L tub of ice cream for dinner?!  
• 11:11 – What happened when Mum took the reins financially?  
• 15:50 – Pivoting from AFL to Events 
• 18:20 – Money management…on a business level  
• 19:53 – The Mistake Venture  
• 23:25 – The financially transformative career he swapped into 
• 27:25 – How he got out of $30k of debt 😮  
• 31:37 – What did it feel like being financially free?  
• 32:13 – Next Steps & Self Development    
• 34:44 – …and then he realised he had been working with spruikers 🙁  
• 39:43 – A warning from a self-confessed enthusiastic amateur  
• 44:08 – THIS is how they decided where to buy  
• 47:49 – Construction Grants & COVID 
• 52:16 – Their first cottage investment property 
• 56:32 – The perks of an accountability partner  
• 58:10 – What has it been like being a landlord? 
• 59:40 – Pulling the trigger (again) in Perth  
• 1:03:19 – He now owns a $2.78M property portfolio  
• 1:06:58 – What security means to James  
• 1:11:51 – The card game that inspired him to share his story  
• 1:16:10 – Folks, look at your skillsets  
• 1:18:52 – Thank you, James! What a fantastic conversation  
• 1:24:52 – We’re giving away some exciting stuff very soon…