As a property investor, you have to master the frameworks. But during a pandemic, you have to tweak specific strategies in each framework to not just survive in this climate, but thrive โ now and in the future.
Make no mistakeโฆ the fundamentals DO NOT change! But in a brand new world, thereโs no doubt that adaptability and proactivity in regards to our Four Pillars of Mastery โ Asset Selection, Borrowing Power, Cashflow Management and Defence (ABCD) โ are critical and will set you up for lifeโฆ provided you work with this time of self-isolation, economy upheaval and uncertaintyโฆ NOT against it!
When this is all over, we will see that the folks who were able to act and adjust quickly will be the ones who get out on top. We have seen it throughout history and most-recently during the GFCโฆ so, while the coronavirus is an unprecedented and uncomfortable time for all of us, there are practical and smart strategies you can adopt NOW to make certain you get through the other sideโฆ and not just โunscathedโ, but potentially in a great financial position.
So, maximise your results and efforts during this time and you will be rewarded for it.
And, please folksโฆ DONโT buy bargainsโฆ the โbargainsโ are that way for a reasonโฆ and weโre going to see a fair bit of this junk stock coming onto the market. So, donโt be tempted. Donโt do anything stupid. And stay focused on the objective.
In this episode:
- Asset Selection โ How To Find, Negotiate, Buy and Rent An Investment Property During A Pandemic
- Borrowing Power โ Key Tips To Maximise Your Borrowing Power Right Now and What To Do With Your Home Loan In The Time Of COVID-19
- Cashflow Management โ Why Cashflow Has Always Been King & How To Manage Your Money, Navigate Government Handouts and Have Enough Cash In The Bank, Even If You Lose Your Job
- Defence โ The Truth About Income Protection and Landlord Insurance and How To Keep Your Assets Safe During A Recession
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Free Resources
- PICA’s Webinar: COVID-19 and Your Investment
- Free Book: Make Money Simple Again โ Achieve Financial Peace in less than 10 minutes a month
- Free Book: The Armchair Guide to Property Investing โ How to retire on 2,000 per week
- Free report: Our Top 5 Frameworks for Property Investors
- Free Money SMARTS Portal: TPC MyWealth Portal
- First 20 Episodes: Your Binge Guide to the Foundations of Property, Finance and Money Management
- Episode 153 | The Doโs and Donโts: The Discoveries Weโve Learnt in Property Investing (PART 1)
- Episode 154 | The Doโs and Donโts: The Discoveries Weโve Learnt in Property Investing (PART 2)
- Australian Tax Office (ATO): https://www.ato.gov.au/
- Isolate and Chill Playlist Mix (thereโs a playlist on Mindset too)
- Bonusisode: COVID-19 & Share Market Analysis (chat with Michael Savy)
- ABC iView โ Escape From The City
- PICA Website
- We’ve also created a summary notes for this episode! Just fill in the form below and we’ll email it to you right away.
Free resources: ABCD during Pandemic
Fill in the form below and we'll email you the PDF right away! ๐
More on The Pillars of Mastery…
- Episode 003 | Four Pillars of Mastery โ Cash Flow Management
- Episode 004 | Four Pillars of Mastery โ Borrowing Power
- Episode 005 | Four Pillars of Mastery โ Asset Selection
- Episode 006 | Four Pillars of Mastery โ Defence
And of course… Additional Helpful Resources on COVID-19
National Update: Click here
State Update:
- Australian Capital Territory โย Click here
- New South Wales โย Click here
- Northern Territory โย Click here
- Queensland โย Click here
- South Australia โย Click here
- Tasmania โย Click here
- Victoria โย Click here
- Western Australia โย Click here
And One Final Word…
If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.
Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.