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Jan Somers: How this Housewife Built Her Multimillion-Dollar Property Portfolio from Scratch

Please Note: This episode is a re-run. The original air date was on February 16, 2017. 😊  

In our FINAL bonus episode for 2023, we’re replaying an awesome episode with one of Bryce’s all-time property-investing heroes…  

Jan Somers!  

She is an incredibly humble housewife who is the author of 4 bestselling property books and is a successful property investor and educator extraordinaire.  

With her property portfolio spanning more than 40 years, we follow Jan’s motivational story from her first venture into property investing to her inspiration for writing her bestselling books, Building Wealth.   

Tune in now to hear her evergreen wisdom from the secret to improving your borrowing power, cultivating the right investing mindset, the types of properties Jan prefers to invest in, and much more!  

Listen now for an awesome blast-from-the-past episode! 🚀 🚀 🚀 

 

Free Stuff Mentioned

  • Check out Jan Somers’ bestselling books and software here >>  

 

Timestamps

  • 0:00 – Jan Somers: How this Housewife Built Her Multimillion-Dollar Property Portfolio from Scratch 
  • 3:29 – Mindset Minute: Beware of highlight reels!  
  • 4:55 – Welcome Jan Somers!  
  • 7:10 – The secret formula that led to success 
  • 8:25 – Her first mentor!  
  • 12:14 – Jan’s Golden Investing Principles 
  • 15:39 – The foolproof loan strategy Jan uses 
  • 18:01 – She was one of the first to do THIS!  
  • 21:33 – From humble beginnings: The origin of her first book  
  • 29:24 – Investing & Family  
  • 33:49 – “Security provides you with happiness”  
  • 37:31 – The biggest mistakes she made…  
  • 40:33 – Accumulating properties, tenants & investing Interstate 
  • 46:12 – Why do some properties perform better than others?  
  • 50:18 – The “living off equity principle” and retiring debt  
  • 54:26 – Financial messages Jan taught her kids  
  • 56:04 – Jan’s top tips for property investors  
  • 58:23 – Extra resources!  

And… 

  • 1:02:09 – Lifehack: Get 15 minutes back by turning off your notifications?!  
  • 1:03:51 – WMPN: Inside a $250M Bel Air house…

 

467 | Back To The Future: Are Our 2015 Investing Strategies Still Relevant Today?

 

 

Folks, it’s time to strap your seatbelts in and tighten your property investing hats because in today’s episode, we’re doing our own Back to the Future with our first-ever Throwback Thursday!! 🔮

We’re revisiting our best property investing strategies and theories from aaallll the way back in 2015 and asking… 

Are they still relevant today?!?  

We’ll be unpacking (Yep, that’s still a favourite word of ours today 😉):  

🛠️ Ep 1. We Fix Bad Property Investment Advice: The two most common regrets we hear and our cornerstone “Barber Analogy”: Is it still applicable or has it become obsolete?!  

🚀 Ep 2. Regulation vs. Education: How has income vs. Property prices changed? And what makes inner land value 3x higher than land further out? 

🏠 Ep 3. The 4 Pillars of Mastery: Do we still use the same process to set investors up for success? And why is MoneySMARTS still extremely relevant today?!  

To hear all of this, plus some of our favourite quotes of all time from these episodes, tune into our first Throwback Thursday now!!  

 

Free Stuff Mentioned

  • We’ve got ONE last spot on our 2024 Summer Series. Share your story with us today! >>  
  • Check out Binge Guide featuring the first 20 episodes here >>  
  • See the graphs from Ben’s What’s Making Property News! Below:  

 

Timestamps

  • 0:00 – Back To The Future: Are Our 2015 Investing Strategies Still Relevant Today?    
  • 2:15 – We’ve got one spot left on our Summer Series!  
  • 3:03 – Mindset Minute: Where the pursuit of Mastery lives…  
  • 7:26 – It’s Throwback Thursday!  
  • 8:55 – Ep 1. We Fix Bad Property Investment Advice  
  • 9:26 – 💈 The Barbershop Analogy 💈 
  • 15:29 – The 2 most common regrets 
  • 16:33 – Is it still relevant today?!?  
  • 19:12 – The Enthusiastic Amateur  
  • 22:40 – “You can get everything you want in life, if you just…”  
  • 26:14 – Ep 2. Regulation vs. Education  
  • 29:09 – These fundamental rules have not changed folks… 
  • 35:58 – The top #3 evergreen quotes 
  • 36:57 – Is buying counter cyclical still a good idea?  
  • 38:21 – What makes this land value three times higher than other land?  
  • 41:36 – Income vs. Property Prices: What’s changed?  
  • 45:55 – We always start with THIS when building our investing strategies… 
  • 47:51 Ep 3.The 4 Pillars of Mastery  
  • 48:56 – How we set up investors for success  
  • 52:12 – Debt Servicing Debt: Did this theory work?  
  • 54:19 – This is what drove MoneySMARTS… 
  • 58:47 – Our favourite quotes  
  • 59:42 – A moment for Ben 🤗 
  • 1:02:32 – Check out our free Binge Guide! >>  
  • 1:03:09 – Here’s to the Stig ❤️  

And… 

  • 1:04:32  Lifehack: Table tennis on the dinner table?!  
  • 1:07:27 – WMPN: Why People Invest in Property!  

 

404 | What do Inflation, Interest Rates & Broccoli have to do with Property?!

With higher interest rates and tighter budgets on the forecast, some folks have been left wondering… 

How does lifting interest rates – when everything is already so expensive – actually help with inflation??” 

And for today’s episode – what do interest rates and inflation have to broccoli and property?! 

 

To answer this, we’re holding a special 101-crash course in inflation to explain why the Reserve Bank of Australia has taken its course of action and Ben dovetails it all together to demystify how it impacts and interacts with the Australian property market.  

And since it’s a massive Q&A Day, we’ve got tons more inflation-themed questions from folks probably wondering the same things as you! We’re unpacking… 

  • Debt to income ratios (aka. the tool banks use to assess your credit worthiness): how can you restructure your debt to best benefit you?  
  •  And for investors wanting to release equity – beware! We’ve recently been hearing certain tax schemes that can reduce your 20-year loan to …4 years?!  

 

Tune in now folks, this episode has tons of gold on inflation to help you get through these rate hikes.

 

Free Stuff Mentioned… 

  • Fill out PIPA’s 2022 Sentiment Survey: Folks, this year’s Sentiment Survey by the Property Investment Professionals of Australia (PIPA) is perhaps one of the most important ones we’ve had yet! Let us know your experiences as an individual in the property market and have your voice heard. Complete the survey here.  
  • BingeGuide to Property, Finance & Money Management – Download here  
  • FREE eBook – Make Money Simple Again  
  • FREE Book (Just pay for shipping!)– The Armchair Guide to Property Investing  
  • Introducing moorr: our newest evolution of the MyWealth Portal! Check it out here.  
  • Let us know how we’re doing! We want to know if we’re doing the right thing. Leave us a review here and let us know your thoughts.  
  • Watch the RBA’s August Announcement here: Hear the Reserve Bank of Australia’s newest cash rate here.  
  • Send us a question: Be featured in our next Q&A episode! Send us a Question via the SpeakPipe widget here.   

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – A preview of today 😊  
  • 2:00 – The Sentiment Survey + tons of other free resources here!!  
  • 6:38 – 4 Golden Statements that Charlie Chaplin gave us…  
  • 8:52 – Q1) Inflation, Interest rates & Broccoli 
  • 10:11 – Inflation 101: Key concepts to understand!  
  • 12:21 – Was inflation imported into Australia???  
  • 12:59 – THIS is what happens if inflation gets out of control… 
  • 13:52 – So why has RBA taken this course of action??  
  • 15:14 – It’s about creating B_f_e_s  
  • 16:34 – Why Australia’s culture + housing system will ensure we will prevail!  
  • 18:14 – It’s because of these that lettuce and broccoli is expensive!  
  • 20:10 – The Reserve Bank of Australia’s 2 Goals  
  • 21:10 – Q2) Withdrawing Equity and Offset Mechanics 
  • 22:14 – Let’s be clear! This is a finable Tax Scheme!!  
  • 24:24 – Beware of people selling this theory… 
  • 26:20 – Folks, we see so many people make these mistakes!!  
  • 29:12 –How we would solve this…  
  • 31:30 – Going Liquid: Listen to this for options for releasing your equity!  
  • 35:10 – Q3) When Should I buy again? 
  • 37:40 – Should Ben (The question-asker) buy local?? Go through this thought process folks!  
  • 39:30 – The Commuter Belt Reset  
  • 40:04 – Why this question is really about Cost vs. Benefit!!  
  • 41:24 – How do CFOs, CEOs, Paper Planning and this question relate??  
  • 44:02 – Q4) Debt to Income (DTI) ratio  
  • 44:45 – What is DTI (and why does it matter??)  
  • 44:52 – How investors restructure debt  
  • 46:37 – How do lenders calculate your borrowing power??  
  • 48:47 – What happens when your DTI exceeds 6…  
  • 50:05 – The role of Loan to Value Ratios! 
  • 51:40 – Getting a lender who isn’t DTI certified – this is the catch!! 😮  
  • 54:28 – Make sure you unpack these numbers behind the DTI Scare News…  
  • 55:35 – Why new estates have high DTIs!  
  • 58:40 – How to change your DTI + get through this high-interest rate period!  
  • 1:01:40 – Have trouble managing discretionary and non-discretionary spending? Why not try moorr!  
  • 1:02:12 – Does that mean all property prices will drop?!  
  • 1:03:38 – Be a part of Q&A sessions! Send us a SpeakPipe here.  

And… 

  • 1:04:46 – Sticky fingers? Closed a tab by accident? Use this shortcut!  
  • 1:06:18 – How does property interact with inflation??  
  • 1:09:11 – What this means for property owners… 

 

331 | What Is Your Money Personality? – Chat with Effie Zahos

Did you know we all have a distinct “Money Personality”??

Yep – we do! And in this episode, we’re giving you the complete lowdown so you can identify which one is YOUR personality (and what it says about your money habits!), as well as practical tips to improve your bank balance, make your Super work harder and build a nestegg for your retirement that won’t cost you “an arm and a leg” to set up!

Folks, joining us today is our good friend and one of Australia’s leading personal finance commentators, Effie Zahos! Effie is Canstar’s Editor-at-Large and has more than two decades’ experience helping Aussies make the most of their money. As the money expert for The Today Show, Effie offers her insights into current money matters and – get this! – prior to joining Canstar, Effie was the editor of Money magazine for more than 20 years. (… Anyone remember our interview from the legend Paul Clitheroe!?! Well, Effie worked right alongside him… so you can bet on the fact she knows her stuff!)

We cover a lot of ground in this ep, like… the psychology of money, the best way to tackle debt and simple (but effective) money hacks to get your money working harder. You can see exactly what we cover further below.

EVEN BETTER, Effie gives us some exclusive insights from her new book, “Ditch the Debt and Get Rich” that’ll have you on track to earning a passive income & tweaking your spending habits like a pro!

So. Which Money Personality are you!?! Well, let’s find out….

Psst… bonus points up for grabs if you can guess Ben’s money personality! 🤣

 

 

Effie’s Books

 

Free Stuff Mentioned

 

Here’s What We Cover….

  • 01:50 – Who won our Start & Build giveaway this week!?! (a few more weeks to go!)
  • 04:06 – Mindset Minute!
  • 06:28 – Meet Effie Zahos…
  • 08:03 – Effie’s WORST Fear!
  • 10:57 – The day Bryce met Effie…
  • 12:56 – How to Retire on $2,000 a Week (how it started…!)
  • 13:58 – How to Ditch the Debt and Get Rich!
  • 15:00 – WHY are so many of us “bad” with money?
  • 16:19 – Reasons people derail from their financial goals
  • 17:17 – Triggers companies use to make you spend more money!
  • 18:19 – The $10,000 Online Shopping Cart….!
  • 19:51 – How to bring the future into the present so you can make lasting change
  • 20:30 – Latest Data on investment trends!
  • 22:33 – Why do you need to go BACKWARDS to go FORWARDS?
  • 23:52 – The #1 tip to “get the monkey off your back”!
  • 24:12 – Debt Avalanche vs Debt Snowball
  • 25:45 – Where do people get into financial trouble?
  • 27:13 – What Is YOUR Money Personality?
  • 27:32 – How to model the most successful investors…
  • 29:27 – The overlooked difference between SPENDING and INVESTING!
  • 30:12 – The 48-Hour Rule
  • 32:02 – The 2 Critical Things to put “side by side” to curb your spending
  • 33:08 – Generational Differences with Money Strategies
  • 35:29 – Do this immediately with your super!
  • 37:05 – Why “Balance is B.S” with wealth creation!
  • 39:12 – Why is writing your goals down so important?
  • 39:45 – Effie’s 3 Financial Goals This Year!
  • 40:43 – The “Coke bottle trick” that makes you money!
  • 42:02 – Why money makes money…
  • 43:26 – Investing in shares!
  • 44:52 – How much do you need to invest!?!
  • 45:35 – Understanding the psychology of wealth creation!
  • 47:08 – Buy now and pay LMI… or wait ‘til you have a deposit?
  • 49:37 – Pay off your mortgage or invest?
  • 54:36 – A key tip about Debt Avalanche…
  • 58:44 – Do you have this in YOUR car???

And…

  • 1:00:29 – What’s making property news?

 

 

 

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