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Episode 303 | The Three Money Rules For Life…

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There are only 3 “Money Rules” you need to follow to transform your financial future… and, yep, we’re about to tackle all three right now! 

So, if you want to avoid the biggest derailments to wealth creation and instead get your money to make YOU money, then this is the episode for you. 

Here’s the deal… without knowing it, you’re probably standing in your own way. We don’t want to sound too harsh when we say that, but chances are, when it comes to your wealth potential, you probably are. (It’s less to do with “you” per se and more to do with the fact that we’re all human 😉) Remember: Money is Simple; Behaviour is Hard. 

To help, we’re sharing the three golden rules to master your money, take control of your future and reach the summit of $2,000 per week! 

  

Psst…. You DON’T Need to Be A “Rags To Riches” Story! …You just need to tweak a few thinking you might currently be doing (both consciously and unconsciously)… 

Listen now to get our Three Money Rules for Life!! 

 

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What We Cover 

 

  

Quote Of The Episode: 

“One only sees what one looks for. One only looks for what one knows.” Johann Wolfgang von Goethe 

 

 

 

Want to sort our your Money Management this year?

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.

 

 

 

 

Episode 293 | What Property To Buy & Practical Tips For Asset Selection

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Have you ever wanted to know what property an investor should buy? It’s a question we get asked ALL the time and for a very good reason…. pick the wrong property and you’re in trouble!
So today’s central theme is all about Asset Selection! i.e. What type of property should an investor buy? What indicators can we measure to prove it’s a good one? How can you increase your capital growth?

You’ll get the answers to TEN quality (and recent) questions from our listeners… and we’re not holding back with our responses! (to the point where we actually had to tell ourselves to hurry up so we could get through all ten for you..!!)

This episode is a must-listen for anyone even remotely interested in property investing, folks! So plug in your head phones now! You can check out all the questions we answer below. And remember to write in here if you have a question for us, or follow us on Facebook so you don’t miss out on impromptu shout outs like the one that inspired this episode!

Finally – Asset Selection is one of our Four Pillars of Mastery for a reason, folks! So please choose wisely when it comes to your investment property! Tune in now and get the practical tips to find an investment grade property… 🙏

 

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Questions

Question from Sambooks
Long time listener, first time engager.! We have been epically saving for our first home, which we would like to have the option to make an investment property when we grow out of it. Only catch is we currently live and rent in the Whitsundays, which is struggling significantly due to lowered tourism rates from COVID. Having listened to the podcast for over 2 years, I understand the risks of purchased property in a location with a poorly diversified economy. Understanding that you are unable to provide personal financial advice, is there anything else we can do to mitigate the risk, as we love the area (& both have stable employment) and can see the potential of some of the lower range properties coming into the market.

 

Question from Matt
I often see properties bought by Empower Wealth with the historical capital growth rate – on Facebook, Instagram etc. Is this a factor to consider when deciding whether a property will perform over the long term (20+ years)? Thanks in advance

 

Question from Todd
Q: Borderless Investing / Buyers Agents

My partner and I are looking at buying our next property interstate to 1) diversify our portfolio and 2) reduce land tax liability. Are there Buyers Agents which cover Australia wide who can give an objective view of which interstate market to buy in? Or do we need to reach out and find a local buyers agent in each state?

 

Question from Dan
Obviously depending on your own horse and what course you want to ride, but typically speaking Is it worth having 2 smaller to mid-range properties delivering high yield ($300-350k with 6% y) or worth chasing a high growth high level home (600-700k with 3%yield)?

Or even if the yield and growth stories were aligned, is 2 at half the pa income better than 1 at full pa income? Lower or higher risk?

(Psst… Bryce and Ben here. If you’re interested to learn more about this subject beyond our answer, check out this free case study on growth versus yield 😉)

 

Question from Kieren
Tossing up between moving into one of my rental properties as I have been renting the last twelve months after selling my last home ($1 saved is better than a dollar earned at the minute). Do you think this is a good strategy to ride out this COVID storm rather than buy right now? I want our next property to be the big rock in the jar. I also want to buy acreage, what are your thoughts on samford valley in Brisbane for long term Growth?

 

Question from Jack
Getting the location right can be narrowed right down to the street but as an investor holding long term and not actually wanting to sell, is it better to try get a house on that busy street in an a grade suburb at a discount so when getting valuations and comparable sales in the future it will work in your favour?

 

Question from Matt
Thoughts on buying defence housing Australia projects? I wouldn’t buy new as I understand you’re buying the developers margins but would you buy as the second or third owner once the market has caught up?

Are there any downsides to permanent long term leases. I believe you’re locked in with their real estate agent that’s a much higher management fee (around 16%) but they cover any minor repairs and at the end of the defence lease they refresh the house up to ‘new’ standards.- new carpet, fresh paint ect

 

Question from Damien
Could Bryce and Ben talk about active investing – fixer upperers, buying to subdivide and build units, and buying 2 bed-1 bath period/character homes to turn into 4 bed-2bath homes

 

Question from Jarryd
I bought ‘house & land’ 3 years ago before I was educated. What can I do now to ensure growth?

 

Question from Matt
Is putting a granny flat out the back a good idea when retiring out the debt? Pros and cons?

 

 

 

 

 

Episode 279 | How To Master The Pillars in Pandemic Times

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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 — now and in the future.

Make no mistake… the fundamentals DO NOT change! But in a brand new world, there’s no doubt that adaptability and proactivity in regards to our Four Pillars of Mastery — Asset Selection, Borrowing Power, Cashflow Management and Defence (ABCD) — are critical and will set you up for life… provided you work with this time of self-isolation, economy upheaval and uncertainty… 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 GFC… 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 side… and not just “unscathed”, 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 folks… DON’T buy bargains… the “bargains” are that way for a reason… and we’re going to see a fair bit of this junk stock coming onto the market. So, don’t be tempted. Don’t do anything stupid. And stay focused on the objective.

In this episode:

 

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More on The Pillars of Mastery…

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

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.

 

 

 

Episode 276 | COVID-19 & Property Outlook

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There’s no doubt that every one of us is impacted by COVID-19 — the coronavirus pandemic — that’s practically everywhere right now.

It’s on the news. It’s in our countries. It’s fuelling a lot of anxiety and panic across the globe…

So, today’s episode is all about navigating the uncertainty of COVID-19 and lifting our eyes so we can see the bigger picture BEYOND the short-term contagion — and the social contagion — that’s currently going on.

Our message remains the same as our first episode on the coronavirus — to spread calm and connection right now….

But A LOT has changed in a week… and so we also have another (kinda really exciting!) message for you…

If you’re cashflows allow and your job security is there… NOW just might be one of the best times to act!

Now, we’re by no means belittling what’s going on here…. We get the severity of the coronavirus event and we understand there are folks out there that are doing it tough right now. And our hearts go out to them and their families.

However, it’s our job to turn to the data and face the facts so we can give you a realistic look at the property market.

Because here’s the deal… the anxiety and panic we’re seeing in our supermarkets is NOT what we’re seeing on the grounds in the property market!

To highlight this, we’re doing something we’ve never done on the show before… we’re giving you a behind-the-scenes look into our “Inner Sanctum” — that is, the most-recent meeting with our team of Buyers Agents who are currently out there buying investment properties. So you get to be a “fly on the wall” as they explain what they’re witnessing in the property market… and WHY.

 

Because, yes… there IS a lot of outside contagion going on. The economy IS being affected at this time. There IS uncertainty and fear going on. And we’ve never really seen something like what we’re witnessing right now. But there’s a VERY positive news story here for a handful of folk who are planned, informed and ready to act… an opportunity that, well, doesn’t come around too often…

 

Free Resources Mentioned

 

Here’s What We Cover…

  • COVID-19 and Property Update
  • Dr Jud Brewer’s Three Steps
  • What is “The Media Cycle”— and how is this contributing to the social contagion going on?
  • How will the coronavirus affect the economy?
  • What’s Australia’s Super Power?
  • Are they going to cut the rates TODAY?
  • Bernard Salt on The Big Shift
  • What’s likely to happen in the property market in the ‘20s?
  • What’s the government doing to assist with the coronavirus event?
  • What will the banks do if you struggle to make your mortgage repayments during this time?
  • Why don’t we see high volatility in property?
  • The Endowment Effect
  • “The Inner Sanctum” – Behind the scenes with our Buyers Agents (exclusive recording)
  • Who is likely to have job security right now?
  • Who should NOT act now?
  • Why is NOW one of the best times EVER to invest in property?

 

 

 

Episode 275 | 7 Grades of Financial Wellbeing – Which one are you?

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Where do you sit on the ladder of financial success?

In this episode, we’re unpacking a brand-new framework that outlines the seven grades of financial wellbeing… so you can self-assess your financial health in a way you’ve never been able to do before!

Here’s the deal, folks… this is new, fresh content. There’s actually nothing out there like this. ‘Cos what we’re about to discuss is the overarching framework of ALL the frameworks we’ve ever gone through over the last five years… and, truth be told, it probably took us from then ‘til now to get really clear on what we’re about to teach today! And to say we’re super excited to share this with you is probably the understatement of the year!

So, it goes something like this…

There’s a GRADING SYSTEM where you can work out exactly where you are on the ladder of financial success… and each grade – or level – has ACTION STEPS, including a “milestone move”, that will move you either up or down this ladder. Obviously, the idea is to move UP a grade and you do this through incremental habits and mindset shifts that will lift you up through each grade… all the way to the “wow” Pinnacle! (This, by the way, is NOT Financial Peace – it’s up there, but it’s actually not the highest tip of the mountain!)

Need an image to grasp this concept? Think of the Karate belts – you start at a white belt and the “best of the best” is the black belt, right? But from white to black there’s a whole bunch of colours in between that show what grade you’re in. And so, just like these karate belts, financial success has a very similar way to reveal where you’re REALLY at. White, Yellow, Orange, Green, etc, etc… Pretty cool, right?

So, essentially, this epic framework is the Yellow Brick Road that paves the way to get to Oz. Or climb out of its opposite if you happen to be stuck in the undesirable grades.

In EACH grade (remember, there’s seven) we’re walking you through…

  • The Headline – the one liner that sums up this grade
  • The Backstory – what gets you to this grade
  • The Big Picture – the main signs of this grade
  • Action Steps – what to do to move up from this grade (and what’ll make you fall down one!)
  • The Feelings – what you’re most likely to feel when you’re here
  • The Milestone Move – the ONE THING that’ll move you up a notch 😉

So… where do you reckon’ you sit? What colour’s your karate belt on financial wellbeing?

Let’s find, out shall we?

 

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Covered in this Ep…

 

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