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Episode 330 | Top 10 FOMO Mistakes Investors Make!

FOMO (Fear Of Missing Out) is certainly here in this hot property market, folks! 

Let’s be real… the “Great Australian BBQ Topic” is officially on steroids right now  a combination of low interest rates, rising property prices and lack of supply in the market is seeing all sorts of people jump in on the property party they perceive everyone else is enjoying. 

So, we want to be direct with you… there are NO excuses to purchase property because of FOMO! The reality is you should NEVER make huge financial decisions on a whim or forget to “Look Before You Leap”. 

A hot market — like the one we’re currently experiencing  is the perfect storm for property buyers to make mistakes and land themselves in hot water by stretching themselves too far, act without thinkingfall into the “herd” mentality or disregard that FOMO is paradise for Spruikers!! 

As a follow on to our 3-part mini-series on how to win in a HOT property market, today we’re tackling the Top 10 FOMO mistakes property investors make… because we DON’T want to see you getting burnt out there or Realising Too Late that you fell into the trap of Irrational Exuberance!! 

So, strap yourselves in folks… ‘cos we’re about to give you some TOUGH LOVE! 

 

Free Stuff Mentioned… 

 

 

What’s Covered In The Episode….

  • 02:12 – How can you WIN our Start & Build online course?
  • 07:57 – How Bryce’s heckle to Ben ended in a property investment lesson… (LOL)
  • 09:57 – Mistake #1: You buy__ because you __ __ __ !
  • 10:30 – The Perfect Storm for FOMO…
  • 11:23 – A question to ask yourself to rein in FOMO…
  • 11:54 – “I went to buy a loaf of bread and came back with a property!” (yep… real life story!)
  • 14:02 – Why market movement doesn’t mean you should buy property…
  • 15:10 – “CBAD”!
  • 16:07 – Key FOMO difference for investors and owner-occupiers
  • 16:28 – Ben’s Two Controversial Tips for Owner-Occupiers!
  • 20:00 – Mistake # 2: You buy because you want to get __ __ !
  • 20:26 – Why is FOMO a paradise for Property Spruikers?
  • 22:10 – Beware of The Stock List!
  • 23:26 – Why we DON’T like the word “Rich”!
  • 24:15 – The Fundamental Principle to work out if YOU are the product!
  • 25:13 – Understanding the enemy…
  • 26:34 – How to identify “The Millionaire Next Door”
  • 27:17 – Mistake #3: You __ __ __
  • 31:16 – The 30,000-foot view…
  • 31:57 – The two most-common situations we model…
  • 33:51 – Mistake #4: You __ the wrong __!
  • 34:13 – Why you need to be cautious of “flipping” in a hot market…
  • 35:24 – Understanding investment-grade locations…
  • 36:00 – Why a character property could actually be the WRONG property for you…!
  • 37:09 – Mistake #5: You __ __ want to __ on __ !
  • 40:52 – Mistake #6: You __ without a __ __ __ __
  • 41:27 – Why can you borrow more as a rentvestor?
  • 42:20 – Considerations if you’re chasing higher-yielding properties
  • 44:02 – Mistake #7: You underestimate what it takes to __  __  a __ __
  • 44:47 – Mistake #8: You’re too __ or too __
  • 46:17 – Classic examples that lead to a poor-performing property
  • 48:27 – Mistake #9: Your __  is disconnected from __ __
  • 50:20 – Are you paying too much?
  • 53:50 – Mistake #10: You Buy __ Because You Think __ __ __ Changed!!

The Game of Property Investing: How To Win Before You Even Play

Want to know the one thing that separates a successful property investor from a broke one?

Knowledge.

Well, to take that one step further… the RIGHT knowledge!

Property Investing is a game. Sure, it’s a game that requires part “Art” and part “Science”, but it’s just like any other game… there are “rules” you need to play by. And these rules determine whether you win or lose.

So, what would be possible for you if you ALREADY knew how to win at The Game of Property Investing?

In this episode – one of a ten-part mini-series of our #1 bestselling book, The Armchair Guide to Property Investing: How to Retire on $2,000 a week – introduces you to The Cardinal Rule every property investor must know if they want to build a multimillion-dollar property portfolio that creates a passive income for life!

Listen now to get Rule #1: How To Win Before You Even Play!

 

Get further insights and “play along at home” by picking up a FREE physical copy of our book here: http://www.thearmchairguide.com.au/

 

Here’s a bit of what we cover in today’s episode…

  • Who are we to teach The Game of Property Investing, anyway?
  • A behind the scenes look out our personal experiences as property investors
  • How To Adopt The Winning Mindset of A Successful Property Investor
  • Why Property Investors Fail: The Barriers To Lasting Wealth And How To Avoid Them
  • Why Your Money Attitude Will Either Cripple You OR Propel You Forward
  • Why don’t the majority of people succeed as property investors?
  • The “Have-Nots and Won’t Haves” vs. The “Will-Haves” (use these insights to see where you currently sit!)
  • The best place to start…
  • Personal Values and Money Alignment
  • Bryce Holdaway’s Mindset Tips (a sneak peak)
  • Ben Kingsley’s Action Plan (a sneak peak)

 

Free Resources

  • Free Book – The Armchair Guide To Property Investing: How to Retire on $2,000 A Week (please just pay for postage – we’ll pay for the book and send it anywhere in Australia for you.)
  • The Property Couch PodcastThe Insider’s Guide to Property Finance and Money Management (This is Australia’s #1 Property Podcast with over 307+ episodes that features HEAPS of simple and actionable frameworks, countless interviews with the best minds in the Australian property and finance industry and a ridiculous number of free resources to help you at any stage of the property investment journey)

 

Episodes from The Property Couch to Further Support You…

 

 

 

Welcome To Your Lifestyle Design: Your Passive Income Starts Here!

Have you ever thought about how you can create a passive income through property investing?

Further to that… have you ever thought about the lifestyle you could design for yourself if you had $2,000 per week coming in… WITHOUT having to go to work for it?!

If that was the case, you could literally spend your time doing whatever it is you want – maybe it’s travel, maybe it’s philanthropy, maybe it’s each and everything in between!

Well, welcome to The Armchair Guide to Property Investing podcast…!

This show is for aspiring and existing property investors who want to learn how to build a multimillion-dollar property portfolio that creates $2,000 a week in passive income! Learn from Bryce Holdaway and Ben Kingsley, two of Australia’s leading property investment experts, the co-authors of the #1 bestselling book, The Armchair Guide to Property Investing and co-hosts of Australia’s #1 Property Podcast, The Property Couch – The Insider’s Guide to Property Finance and Money Management.

This show’s come together in a rather unique way (which Bryce is quickly going to tell you about now)… and, yep, it features the content, the “behind the scenes” summary and all of the best bits of our bestselling book – The Armchair Guide to Property investing: How to Retire on $2,000 a week. And, no, we don’t read it out word for word as that’s not as fun! 😉

If you want a FREE Physical Copy of The Armchair Guide, head to www.thearmchairguide.com.au for more details!

Enjoy the show… and, more importantly, enjoy your Lifestyle By Design!!

 

 

 

Free Report: COVID-19 Caused Risky Property Regions

The media has had a field day recently… A Pandemic, Unemployment Rate expected to Rise, the World Economy slowing down and more. Naturally, this only mean one thing:

AUSTRALIAN HOUSE PRICE CRASH!!

Did that get your attention? Well, that’s what they are trying to do.

We’ve seen this same headline being used every time the economy showed some signs of slowing down and the number of times when the Australia Property Market as a whole actually crashed? None.

It’s understandable though. Property is one of the hottest Australian BBQ topic and the Great Australian Dream is part of our aspirations. So it makes sense why people are worried about it. But this time in Episode 286, Jeremy Sheppard, Director of Select Residential Property and Founder of DSR Data came on the show to share some of the data insights into some of the key metrics and highlights areas most likely to be affected by COVID-19. The report also highlights a new era of opportunity for cash-flow positive property investors never been seen before.

 

Just fill in the form below and we’ll email you the COVID-19 Caused Risky Property Regions report right away!

  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

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Free Report: Top Tips on How To Master the Foundational PIllars in Pandemic Times

We realised that Ep. 279 | How To Master The Pillars in Pandemic Times could be a tad long for some listeners. But it is a crucial episode especially when we are right in the middle of a pandemic now.

That is why, we want to make it easy for our community to digest.

We’ve listed out all the key points in the episode and produced a summary notes of all the twenty-three tips on Asset Selection, Borrowing Power, Cashflow Management and Defence! Just leave your details below and we’ll email you the PDF right away.

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