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Episode 315 | How A Paper Round Paved The Way To A Passive Income – Chat with Brendan

Today we kick off the first episode of our Summer Series – that is, we’re showcasing REAL LIFE MONEY TRANSFORMATIONS!

And there’s no better place to start than with Brendan Deith, who took humble beginnings as a paperboy to ignite money habits that would go onto pave the way to a passive income for life!!

And Brendan’s journey has indeed been an endless ripple effect – from learning good money management early (thanks to his paper round & his parents sound money management conversations around the kitchen table) right through to the ULTIMATE OUTCOME – Financial Contribution.

There’s a few tweaks and tips along the way too… so strap yourselves in folks ‘cos you’re in for a feel-good episode with solid takeaways that you can go ahead and implement in your own life too!

Psst… just wait to you get to the part about “The Classroom Economy” – it’s game-changing!

 

Free Stuff

 

What We Cover…

  • 05:38 – Brendan’s Backstory
  • 08:30 – The Drum set that kickstarted healthy money habits…
  • 09:57 – What was his parents’ “extra” jar?
  • 11:09 – The award saver account (paper round money)
  • 12:18 – What was Brendan’s original budgeting system?
  • 14:27 – The first property
  • 16:17 – How did having a buffer help with the mindset?
  • 17:48 – BEFORE Money SMARTS…
  • 18:58 – AFTER Money SMARTS
  • 24:26 – The Ripple Effect of spending habits
  • 26:22 – What does Brendan most enjoy about Delayed Gratification?
  • 27:44 – How & When did he discover Money SMARTS, anyway?
  • 29:44 – Unique Ways to get your essential spending down…
  • 30:38 – How does Brendan navigate provisions?
  • 31:34 – Why has he NEVER done the 7-day float?
  • 32:13 – Using a credit card for everyday spending (Who should & Who absolutely should NOT?)
  • 33:32 – Is Brendan’s wife equally on board?
  • 24:17 – The Best Advice They Ever Got!
  • 35:17 – What are they doing with the trapped surplus?
  • 35:37 – What’s their Passive Income target?
  • 37:33 – Getting Property Investment Advice and getting an answer to this question: “How many properties do we actually need?”
  • 39:41 – How does he feel about getting into debt?
  • 41:09 – The first investment property…
  • 43:75 – The Two Journeys You’ll Almost Always Take To Reach Financial Peace
  • 45:04 – Brendan’s “Classroom Economy” that teaches kids about money…
  • 50:42 – Money SMARTS Hack
  • 52:53 – Brendan’s Question for us… Do you plan for an increase material (and labour) cost for renovations

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

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Episode 311 | The Dummies Guide To Strata Properties & Body Corporates – Chat with Amanda Farmer

What is Strata? And what are your obligations if you are considering investing in, or have already purchased, strata properties?

In this episode we’re going down the rabbit hole of Strata and Body Corporates/ Owner Corporations! Basically, it’s a “101” on The Do’s and Don’ts and Practical Tips for Strata Management… and, while this can be quite a complex topic, we have the perfect guest to explain everything you need to know… without the confusion or legal jargon getting in the way!

Today’s guest is clearly someone who knows her subject well…. Joining us is Amanda Farmer from Your Strata Property! Amanda is a specialist strata lawyer with over 16 years’ experience in strata and community living. As a Fellow and Council Member of the Australian College of Strata Lawyers, she is a recognised strata expert.

This episode is a MUST for anyone who is thinking about investing in an apartment or townhouse that shares common areas… those of which are managed by a body corporate!!

Listen now to get “The Dummies Guide” to Strata Properties & Body Corporates!

 

Free Stuff Mentioned:

 

Here’s A “Tip Of The Iceberg” Look At What We Cover…

 

 

How to Create $2,000 A Week – Six Real Life Case Studies from Six Very Different Investors

Want to hear how six very different people — that’s different ages, different incomes, different incomes and different demographics — ALL managed to build a multimillion-dollar property portfolio that creates $2,000 a week in passive income?

Yep. They each hit that magical figure of $2K per week in passive income!

So… how’d they do it?!

Psst.. for a FULL breakdown into all the numbers and property portfolio builds for each case study, please pick up your  FREE physical copy of The Armchair Guide to Property Investing here: http://www.thearmchairguide.com.au/

 

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

  • Six Real Life Case Studies!
  • How much do kids really cost?
  • What is Consequential Finance?
  • What are the Four Levers to Financial Peace?
  • What’s the biggest challenge for Millennials?
  • What’s the interest rate we use to model out our property portfolio builds?
  • The Money and Wealth Accumulation Model
  • The Variables and Assumptions we use 

 

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…

 

 

Episode 269 | Gamifying The Race To Retirement: Granny Flats, A Garage Full of Cars, And An Ex-Seller of House & Land Packages – Chat with Athena Anca

Put your hand up if you want to fast-track to the day when you can choose whether to go to work or not? Okay. Hands down. Most folks — probably early morning on a Monday when the alarm goes off — have thought it’d be nice to have the option to roll back over… or simply get out of bed and have the whole day to do whatever you want, without worrying about where the money’s going to come from.

So that’s why today’s guest is gamifying the race to retirement — that is: she’s turning money management into a game… a fun competition where her and her partner are trying to beat how much surplus they can trap… and how fast they can race to retirement!

BUT, as all “real life” stories go, this one’s a bit more layered than that. In fact, it’s WAY more layered….

Because, for one thing, Athena Anca — the FINAL “everyday investor” who has put their knowledge into action and is tying up our 2019-2018 Summer Series — wasn’t always like this.

What’s most interesting is Athena actually used to SELL House & Land Packages! … And she and her partner Jason BOUGHT one as their first property!! Sure, now they’re investing in granny flats and planning for their dream home with a garage full of super cars, BUT…….

Guess what??? This actually is isn’t the first time Athena’s been on The Property Couch! If you circle back to mid-last year (Episode 236), Bryce actually read out an Instagram message from Athena….

 

Our first property decision was a setback in disguise. In 2016 we bought a house and land package based on first home buyer incentives that weren’t in line with our goals. Cue Bryce and Ben….
One episode at a time we learnt the difference between Investment Stock and Investment Grade, became my familiar with the lending landscape and finally channeled our discipline into managing money rather than it managing us. I only mind a little bit that our friends think we’re tight-arses! We became borderless investors and this year added our third property to our portfolio…”
– Athena on Instagram, Read out in Episode 236

 

Free Resources Mentioned:

 

Episode Breakdown

01:53 – The Money Backstory!
07:20 – How did Athena manage her money before she met Jason?
14:50 – The “tight-arse” money moments!
16:28Why invest in property?
16:58 – Gamifying the race to retirement…
18:28 – How had they set up their lending?
19:53 – Why didn’t they buy a house and land package again?
21:42 – Investing for Yield: Is a Granny Flat a Good Strategy?
23:10 – The “Super Car” story!
23:51 – What was it like selling House and Land Properties??
25:18 – The House and Land Sales Spiel…
30:21 – How much are the granny flats? How many beds, etc?
31:25 – … and the rent return for the granny flat?
32:37 Pros and Cons of Granny Flats
33:15 – The Plan
35:20 – Athena’s advice for YOU….
35:44The Mindset Tips: How to overcome analysis paralysis
40:52 – Are they still tracking ever single dollar with Money SMARTS?
41:11 – What do they do differently with their 7 day float?
41:38 – How far ahead are they on their money target?

 

Keen to Get Started with Money SMARTS like Athena?

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Episode 268 | From Fear of Property Investing to Three Properties By 29 – Chat with James

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 Resources:

 

Episode Breakdown:

01:50 – Why was money an issue growing up?
03:35Lessons 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?
08:15An 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
16:23Is 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…
26:56How 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
33:38How to Spot a Property Spruiker
36:15 – 5 top things James wants property investors to know now

 

 

 

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