002: Is it too late to buy this property cycle? | William's finance question answered | Don't wish it were easier, wish you were better
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast · Michael Yardney 894074
July 17, 201721m 2s
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Show Notes
Welcome to episode two of the Michael Yardney podcast.
Today, I'm going to discuss three things. One of them is a very common thing I get asked.
- Is it too late to get involved in property investment at this stage of the cycle?
- Difficulty getting finance from the banks
- A lesson that changed my way of thinking about all sorts of things not just property investment.
Today's discussion includes:
- What other factors to consider with investing besides timing
- Countercyclical investing
- It's not the external world that determines if you make money, it is something inside
- If you are waiting for the perfect time to invest, the timing will never be perfect for you.
- Buying properties when everyone tells you not to
- You are not buying the market, you are buying an individual property within that market.
- Maximize your profits in the upturns while being prepared for the next downturn
- Why it takes the average investor 30 years to become financially independent
- Sometimes the right thing to do is nothing.
- Buying one property each year is unrealistic.
Mindset Message: Don't Wish It Were Easier Wish You Were Better
- When life happens we can choose to be the victim or the victor. We have to be able to face a changing landscape daily.
- Our mindset and our passion for improvement every day through consistent action will set us apart from the average person.
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