Property Investment & Wealth Creation Australia | The Michael Yardney Podcast

What's really going to happen to our property market? Are they going to crash like many economists and market commentators suggest? I recently read a headline suggesting the recent unemployment figures will be the final knockout blow for our housing markets. Now I agree the RBA will keep ramping up interest rates, which will further stunt consumer confidence because, of course, that's what it is intended to do. And yes…property values will fall, but how much will they fall, and how worried should you be? That's what leading independent financial advisor Stuart Wemyss, and I discuss in today's podcast. To make things clear, we are not eternal optimists, and I believe will offer you a realistic view of the risks ahead and the supporting fundamentals. I hope that at the end of today's show, you'll be able to sleep a little better. Links and Resources: Michael Yardney Stuart Wemyss – Prosolution Private Clients Stuart's Book – Rules of the Lending Game & Investopoly Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Shownotes plus more here: How scared should you be about the property crash ahead? With Stuart Wemyss

Australia is in the middle of a rental crisis. But interestingly, in the month of July, asking rents for houses didn't increase. Is the end of the rental increase after the spectacular rent increases of the last year or so? Far from it, and in today's podcast Dr. Andrew Wilson and I discuss some interesting unintended consequences that are going to occur from the various governments' interference in our housing markets that will affect our rental markets. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us. Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Here's why our rental crisis will only get worse, with Dr. Andrew Wilson

What makes an A-grade Home? That's one of the questions we answer in today's question-and-answer podcast with Belinda Botzolis. We also answer the question of whether this is the right time to buy, sell, or hold – which is a question on the mind of many home buyers and investors. Belinda has been a valuer for over 16 years and now brings her passion and years of experience to her role as one of the Property Strategists at Metropole, and I'm sure you'll find her answers insightful. Links and Resources: Michael Yardney Belinda Botzolis – Senior Property Strategist Metropole Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get your bundle of free eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Should I buy, sell or hold Q&A day with Belinda Botzolis

If there was a baby boom in the 1950s then there must be a baby bust in the 2020s as Boomers exit the workforce. No, it's not that the Baby Boomers are expected to die in droves in the coming decade, it's that they're right now exiting the workforce at a faster rate than Millennials and their successors are entering the workforce. And this has only been made worse by our locked borders because of the pandemic. To understand what this means for our economy and our property markets today I'm joined by leading demographer Simon Kuestenmacher who'll give us insights into his latest research into what's ahead. Links and Resources: Michael Yardney Simon Kuestenmacher - Director of Research at The Demographics Group If you're keen to buy your next home or investment property why not get the team at Metropole to build you a personalized Strategic Property Plan – this will help both beginning and experienced investors. Get a bundle of eBooks and reports here:- www.PodcastBonus.com.au Shownotes plus more here: Demographics suggest that there's going to be a skills drought, with Simon Kuestenmacher

In today's show, I want to discuss with you the five levels of investing, a framework that I have created to help you understand where you are on your journey and to help you make sure you reach the top level as a successful investor. Then I'm going to share some interesting information with you about the tsunami of wealth Baby Boomers are expected to leave their children. Do you understand the Five Levels of Investing? If you want to become a successful property investor, you really need to understand the five levels of investing. I've created a model to explain the progression most investors take in their path to developing financial freedom. Level 0 – The Spender Level 0 are really not investors – they tend to be spenders and borrowers and as a result, end up with a high level of debt. A large part of our adult population falls into this category and they will never become wealthy unless they do something radically different. Level 1 – The Saver Most people who are not spenders will generally be what I call savers. Their main investment is their home, which they aim to pay off over time. Sometimes they save a little, squirreling away a few dollars of what's left over after paying tax but in general, they save to consume, not to invest. They will get the most leverage by investing in themselves and getting a quality financial education and beginning to build a network of peers whom they can make the journey with. Level 2 – The Passive Investor Level 2 investors have become aware of the need to invest. They realize their superannuation won't get them through retirement, so they learn about investment and accumulate assets. While they are generally intelligent people, they are still what I would call financially illiterate – they don't really understand the rules of money. They must unlearn the flawed, incorrect, and misguided lessons they have learned about money and wealth from unqualified teachers. Level 3 –The Active Investor Level 3 investors realize that they must take responsibility for their financial future and become actively involved in their investment decisions. They become financially literate by building a knowledge base of investment strategies and techniques. Level 3 investors usually leverage the time and expertise of a network of industry professionals as they realize that they can't do it all themselves. They also upgrade their network of advisors and peers, often joining a Mastermind group of like-minded people. Level 4 – The Professional Investor A very small group of investors move to the top rung of the ladder and become a Level 4 "professional" investor who has built and now manages a true investment business. A Level 4 investors' property investment business has a substantial asset base that generates sufficient recurring passive income to pay for their lifestyle costs. They keep growing their investment portfolio whether or not they work in a real job. These professional investors don't hand control of their investments over to others; they retain control whilst employing a proficient team: accountants, finance brokers, property managers, solicitors, and property strategists who have great systems that achieve repeated and consistent results, which are reliable and predictable. This gives Level 4 investors the freedom to choose whether they get up in the morning and go to work or not. Asset Growth first, then income stage It's important to understand that the first stage in becoming financially free is to educate yourself; the next stage is that of asset accumulation – your job as a Level 3 investor is to build a sufficiently large asset base to fuel your "cash machine". Then, only when you have grown a substantial asset base, do you transition into the cash flow (income) stage of your life as a level 4 investor. What is your Level of Wealth? Now it's time for some home truths. How far up the Wealth Pyramid are you? Where do you currently sit in this hierarchy of investors? Everyone starts at the bottom – at Level 0 – but not everyone makes it to Level 4. In fact, few do. But you can once you understand why the rich keep getting richer. What I want you to understand is that the "active" income you make (the pay packet you work for every day) has nothing to do with what level of investor you are and in fact is one of the worst predictors of wealth. One great thing about freedom is the freedom to choose to live the life you want to live. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a heap of eBooks and reports here: - www.PodcastBonus.com.au Shownotes plus more here: Do you understand the 5 levels of investing? Some of our favourite quotes from the show: "Savers tend to be afraid of financial matters. They're generally unwilling to take risks." – Michael Yardney "You've got to go through the various stages to become financially independent." – Michael Yardney "Continue to wor

We live in uncertain times, creating a lot of anxiety for investors. So, in today's podcast, which is one I recorded together with my good friend and share trading expert Louise Bedford, we talk about how to manage uncertainty. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Follow Dr. Andrew Wilson, Chief Economist My Housing Market on LinkedIn Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: 2 investing veterans share their tips to manage uncertain economic times, with Louise Bedford

Despite all the negative news in the media warning us of the worst property correction on record, my guest today Pete Wargent recently wrote a piece giving good reasons why our housing market downturn could be short-lived. Since Australia's economy and our property markets don't operate in isolation, each month, I take time out to have a look at the big picture, the macroeconomic factors affecting not just Australia but the world economy, in our attempt to give you a little more clarity on what's ahead. Once again, we will take a deep dive into what's happening in the world and Australia's economy, and our property market. Links and Resources: Michael Yardney Metropole's Strategic Property Plan – to help both beginning and experienced investors Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Pete Wargent's new Podcast Pete Wargent's blog Shownotes plus more here: How long will this property downturn last |The Big Picture Podcast with Pete Wargent

Australia's property markets have experienced unprecedented demand over the last couple of years, despite tourists not coming from overseas, despite visa holders not coming, visa holders not coming, students not being here, and the borders being closed. And now despite the market cooling, rising costs and supply shortages are causing one of the worst housing crises in history. I don't know about you, but I've been reading about families forced to live out of their cars, in camper vans, and even in tents. And these are respectable people with reliable incomes and good rental history to boot. Today I'm going to share a couple of segments to help you understand what's going on. First, there's a replay of one of my recent Property Insider chats with Dr Andrew Wilson where we share his latest rental reports and what we believe is ahead for rental markets. Then I'm going to share some statistics from the census, including one that created a lot of furore about why there's a housing crisis when about 10% of properties were vacant on census night. I will give you some ideas to help you be a better investor. And of course, I'm going to share my popular mindset message. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: A bleak outlook for renters is good news for investors with Dr. Andrew Wilson

We seem to have a new national obsession. It's even bigger than worrying about who's going to the football on the weekend. It's called "Which way are house prices heading next?" According to our big banks, Australians must brace for the worst housing correction on record as rising interest rates will strangle the property market. And while Australia's economic fundamentals are still strong, consumer confidence has taken a significant hit and that's affecting our housing markets with buyers being more cautious and many taking a wait-and-see approach, while sellers' confidence is more fragile. So, will property values fall 20 or 30%, as some banks suggest? Those topics are what we talk about in this week's Property Insider video as Dr. Andrew Wilson, Australia's leading housing economist and chief economist of MY Housing Market gives you his forecasts for our housing markets for the next 6 months. And considering his strong forecasting track record, I believe he's worth listening to. We also discuss some of the other property news that has happened over the week. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Follow Dr. Andrew Wilson, Chief Economist My Housing Market on LinkedIn Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: A leading economist's thoughts on those forecasts of a property market collapse, with Dr. Andrew Wilson

We all know that the rich keep getting richer, but the question is how can we learn from them? Sometimes it can seem as though rich people are born lucky with inevitable success ahead. But the reality is that anyone can become rich. It's not like they have any special secrets. After all, even the rich invest in property, shares, and business-like any other ordinary Australian. The difference between the rich and ordinary Australians lies in some simple things they do differently. That's what I've invited Mark Creedon, Founder of Metropole's Business Accelerator Mastermind to talk with me about today. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book here – Have a Business, Not a Job Get a bundle of eBooks and reports – www.PodcastBonus.com.au Shownotes plus more here: 7 ways the rich are getting richer, and how to join them, with Mark Creedon

One of the aims of my podcast is to help you become more financially successful and help you grow protect and pass on your wealth, and what we talk about in today's show with Ken Raiss, who is widely regarded as Australia's leading property tax strategist is asset protection. Now for people who don't know, for many years Ken was an accountant and managing partner in a national accounting firm. He's still an account but doesn't do regular accounting work – instead he gives high-level wealth advice to our clients at Metropole wealth advisory. But he's not a theorist, he's a successful investor, business owner, and entrepreneur with accounting, financial planning, and real estate qualifications. That's why he's able to give a holistic approach to our clients and help them grow protect and pass on their wealth. Today, Ken and I will talk about asset protection. Links and Resources: Michael Yardney Ken Raiss, director Metropole Wealth Advisory Have a chat with Ken Raiss to ensure you have the correct asset protection strategies in place – click here In turbulent times like we're experiencing why not get the team at Metropole on your side to give you holistic property and wealth advice– find out more here Shownotes plus more here: Asset protection strategies to safeguard what's yours, with Ken Raiss

Strategic property investors plan for the long term and therefore theoretically should be immune to the ups and downs of the property market. However, the grinding reminders of the economic challenges we are facing can be a harsh test of character for even the most experienced investor. There is continual news about rising inflation and higher interest rates and how this could lead to a significant downturn in our property market. So how can property investors prepare for the possible turbulent times ahead? That's what I'm going to be asking leading financial advisor Stuart Weymss, in today's show. Links and Resources: Michael Yardney Stuart Wemyss – Prosolution Private Clients Stuart's Book – Rules of the Lending Game & Investopoly Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Shownotes plus more here: Here's how property investors prepare for turbulent times, with Stuart Wemyss

There are some must-read books on personal finances that will help you develop good saving and investing habits. One of them is Robert Kiyosaki's Rich Dad, Poor Dad, a must-read if you want to learn about personal finance. Now I've interviewed Robert three times on this podcast and while I don't agree with many of his views on Real Estate, and I definitely don't agree with his views that we're heading forth an economic Armageddon, I respect the lessons I learned from him many years ago on personal finance. So today in this podcast with Mark Creedon, founder of Metropole's Business Accelerator Mastermind, I'd like to share 20 lessons I believe you should understand from his great book Rich Dad, Poor Dad. At the end of today's show, I hope you learn a few new things about money and finance and that I will have reinforced a number of things you already knew, and maybe we can help you escape the vicious cycle of working hard your whole life. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book here – Have a Business, Not a Job Get a bundle of eBooks and reports – www.PodcastBonus.com.au Shownotes plus more here: 10 Key Lessons to Learn from Robert T. Kiyosaki's Rich Dad, Poor Dad, with Mark Creedon

A 40-year high in inflation, rising interest rates, talk of our property markets crashing, and our economy falling into recession. Then there's Russia's war with Ukraine. A spike in energy prices, a skyrocketing jump in the price of oil. Supply chain problems. Excessive government spending. Exploding government debt. A huge increase in the nation's money supply. All these factors and others are contributing to increased inflation. But am I worried? Not really. And you shouldn't be either. I'm going to explain why in today's podcast. Links and Resources: Michael Yardney If you're keen to buy your next home or investment property why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors. Get a bundle of eBooks and reports here:- www.PodcastBonus.com.au Shownotes plus more here: Why I'm not worried about inflation — and why you shouldn't be either

If you want to become a more successful property investor, today's show is just for you. I'm going to discuss how to become more successful as an investor by discussing two separate concepts with you. Are all those other investors crazy? The ones who don't reach success? We're going to have a talk about that. Then I'm going to share with you one thing you're going to have to change to get more successful. Are all those other property investors crazy? Around 8.6 million Australians bought a lottery or scratchy ticket in the last year. That's around 44.8% of our 18+ population. Who is buying all these tickets? When you do the maths, you might think they must be crazy. Fact is: No one is crazy. The decision to buy a scratchy, a lottery ticket, or an off-the-plan property or a house and land package or whatever must make sense to them at that moment and ticks all the boxes they need to check. I've often written about how we're not rational when making investment decisions – we're subject to behavioral biases. I've been a student of behavioural finance for years trying to understand why investors keep making the mistakes they keep making, when the end results of their actions – the negative consequences of the decisions they make – seem so obvious to me. People are often wrong, but few are crazy. Be careful taking cues from other people when you have no idea what they're thinking Many finance and investment decisions are rooted in watching what other people do and either copying them or betting against them. But when you don't know why someone behaves as they do, you won't know how long they'll continue acting that way, what will make them change their mind, or whether they'll ever learn their lesson. No one is crazy, including you. But everyone justifies actions based on poor reasoning, including you. Few people make financial decisions purely based on logic and by using research and spreadsheets. The bottom line: The fun part of behavioral finance is learning about how flawed other people can be. The hard part is trying to figure out how flawed you are, and what stories make sense to you but would seem crazy to others. That's why when making significant property decisions it's important to have a team of independent, unbiased advisors on your side. Here's one thing you need to change to become a successful property investor I've found that for most property investors to change their level of wealth, they must change. Why is change difficult for many of us? Because change makes us move out of our comfort zones. We tend to believe that if we stick with what we know, with what is familiar, then we won't get hurt. In terms of wealth creation, it's not what we know that's holding many of us back. It's what we think we know that isn't so that is holding us back. I'd like to discuss why many Australians are not as far advanced with their wealth creation as they would like to be. What holds most of us back? It's our Wealth Operating System ™ – our financial blueprint – the programming we received as a child. It is no coincidence that your inner world creates your outer world. So, one of the first steps in change is changing your thoughts. How do you think about money, success, and prosperity? Remember: Your thoughts lead to your feelings, your feelings lead to your actions and your actions determine your results. So, money is a result, wealth is a result, and your health is a result. Your results in all these fields have been caused by you – by your actions. The problem is for many Australians their thermostat is not set for Wealth. Many of us need to intentionally change our inner world – our way of thinking. Firstly, we need to change the way we think about ourselves. Why are we scared of change? The only constant in the world, the only thing you can absolutely count on, is change itself. Results change when people change their way of thinking. If any of what I've said has made an impression you will realize that if you're going to go to another place in your life financially, then you are going to have to do some things differently. And doing things differently first requires thinking differently. Until you change how you are, you will always have what you've got. To have more, you need to become more. The rich keep getting richer because they're programmed and conditioned to, while most people are boxed in by the boundaries of their thoughts. If you've heard me speak on the topic of the psychology of success, you'll know I suggest you always get what your subconscious wants, not what you think you want. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a heap of eBooks and reports here: - www.PodcastBonus.com.au Shownotes plus more here: Are all those property investors crazy? Some of our favourite quotes from the show: "Every decision everyone makes is rationalized in their head when they make it." – Michael Ya

Today I'd like you to come on a journey with me and leading demographer Simon Kuestenmacher. First, we'll go back to the 1950s, then forward to today, and then forward again to 2054. We'll look at how our cities have changed and will change even more over a century as the Australian nation transitioned from a colonial outpost to a cosmopolitan global community. We'll delve into Simon's latest research which tells a powerful story about our nation. It reveals the lifestyle preferences of the Australian people and the drivers of demand for residential property, something all property investors need to understand. Links and Resources: Michael Yardney Simon Kuestenmacher - Director of Research at The Demographics Group If you're keen to buy your next home or investment property why not get the team at Metropole to build you a personalized Strategic Property Plan – this will help both beginning and experienced investors. Get a bundle of eBooks and reports here:- www.PodcastBonus.com.au Shownotes plus more here: The rise and fall of Australia's Biggest Cities, with Simon Kuestenmacher

How am I preparing for the upcoming property market slowdown? That was a question posed to me by Jarrad Mahon for his Perth Property Insiders podcast, but we discussed much more than what's happening in Western Australia. And that's why I asked if I could share the recording of that show with you, which is what you'll be hearing in a moment because we discussed what I believe is ahead for our property markets, what I'm doing personally to protect myself, and what you can do to ensure that you make the most of the current market and don't become a casualty of the economic and property changes ahead. Links and Resources: Michael Yardney Jarrad Mahon – Investors Edge Perth If you're keen to buy your next home or investment property why not get the team at Metropole to build you a personalized Strategic Property Plan – this will help both beginning and experienced investors. Get a bundle of eBooks and reports here:- www.PodcastBonus.com.au Shownotes plus more here: Here's how to prepare for the upcoming downturn with Jarrad Mahon

Last year you could buy almost any property, go away on holidays (even though you really couldn't because of Covid) and when you came back you would have been richer than when you went away. But that was a once-in-a-generation property boom that made almost anyone who bought a property look like a smart investor. If history repeats itself, and most likely will, many investors will come to regret the hasty purchases they made last year. On the other hand, at Metropole, we were very selective in the type of properties we bought to ensure our clients' investments would outperform the markets in the short-term and the long term. So in today's podcast, I chat with Brett Warren about the type of property his team of buyer's agents bought for our clients, and hopefully, these case studies will give you some insight into how to choose an investment-grade property. Links and Resources: Michael Yardney Brett Warren – National Director Metropole Property Strategists Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a bundle of eBooks and reports = at www.PodcastBonus.com.au Shownotes plus more here: Here are details pf some of the properties we recently bought, with Brett Warren

As we sit here today inflation is the highest it's been for years, interest rates are rising and people are wondering how high they will go, plenty of tech stocks are down by up to 50%, the war in Ukraine continues, and supply chains are broken, the pandemic is lingering, China is in lockdown, we have a new government, and on and on. Somehow it feels like there's more economic uncertainty than there has been in years. Even though that's probably not the case But what does all this mean for Australia's economy and our property markets? Since these don't operate in isolation, each month I take time out to have a look at the big picture, the macroeconomic factors affecting not just Australia, but the world economy in these Big Picture Podcasts with Pete Wargent, in our attempt to give you a little more clarity on what's ahead. Links and Resources: Michael Yardney Metropole's Strategic Property Plan – to help both beginning and experienced investors Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Pete Wargent's new Podcast Pete Wargent's blog Shownotes plus more here: The Big Picture – economic and property trends you must understand – June 2022, with Pete Wargent

If you're a property investor you probably want to increase your rental returns. And while you've most likely enjoyed strong capital growth over the last couple of years, moving forward this is likely to be more subdued – meaning getting better rentals is going to be even more important. So how do you do this without losing tenants? That's what I'm going to chat about today with Leanne Jopson, national director of Property Management of Metropole so that at the end of today's podcast you'll have some hints about how, when, and how much you can increase your rents. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Property management for serious property investors – get the team at Metropole to help you maximise your returns. Get your bundle of free eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Proven strategies to boost your investment property's rent, with Leanne Jopson

Are property investors greedy? What right have they got your own so many properties when others don't have shelter? That's one of the questions we answer in today's question-and-answer podcast with Belinda Botzolis, who's been a valuer for over 16 years and now brings her passion and years of experience to her role as one of the property strategists at Metropole. She also gives a valuer's tip that may just save you some money as well as answering the question about which renovations add value and which don't. Then, instead of my usual mindset message, I'll have a short conversation with Tom Corley about how much better you need to be to win. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get you a bundle of free eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Are property investors really greedy? Q &A day with Belinda Botzolis

What's ahead for our property markets, not just now but in the medium and long-term future? Wouldn't you like to know? Because if you did, that would make you a more successful investor, wouldn't it? We understand that forecasting just seems to be getting harder and harder. There are so many conflicting factors out there. But in today's show, I discuss three megatrends that are going to signal Australia's future with leading demographer Simon Kustenmacher to give you more clarity about what's ahead, and that will help you make better investment and business decisions. Links and Resources: Michael Yardney Simon Kuestenmacher - Director of Research at The Demographics Group As our markets move forward why not get the team at Metropole to build you a personalized Strategic Property Plan – this will help both beginning and experienced investors. Get a bundle of eBooks and reports here:- www.PodcastBonus.com.au Shownotes plus more here: You must understand these 3 megatrends that signal Australia's future, with Simon Kuestenmacher

Want to be successful in life? Whether it's with your property investments, personal life, profession, or business, life will throw you challenges. Just look at what's happened to us over the last couple of years. So, allow me to let you in on a little home truth: It takes a special kind of fortitude to be successful and when the going gets tough, the tough don't get going—they reach for a winning prescription called mental toughness. What's mental toughness all about? It's been described as the "ability to work hard and respond resiliently to failure and adversity; it's the inner quality that enables individuals to work hard and stick to their long-term passions and goals. And it's the topic of today's podcast with Mark Creedon founder and CEO of Business Accelerator Mastermind. Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book here – Have a Business, Not a Job Get a bundle of eBooks and reports – www.PodcastBonus.com.au Shownotes plus more here: Here's why you need to develop "mental toughness" to be more successful with Mark Creedon

With the election result now clear our property markets can resume their normal activities. And while the ALP fiddled around the edges with some First Home Buyer incentives, the absence of significant macro policy differences between the new Labor Government and the Coalition suggests there will be minimal impact in the short term on our property markets. However, I can see some unintended and concerning long-term consequences that could have a major effect on our economy and our property markets share this with you today in this episode of my podcast. Regular listeners will know that I record a weekly Property Insiders video with Dr Andrew Wilson, Australia's leading independent housing economist, and today's podcast is the audio of a recent YouTube video as we discuss our economy, the latest unemployment figures, wages growth, what Reserve Bank feels about interest rates, and what our new government may mean for property. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Beware of the unintended economic consequences ahead with Dr Andrew Wilson

A common property investing rule-of-thumb is that you should "buy property and never sell". That's because property prices always trend higher over time which means you benefit from compounding capital growth. Of course, the rule-of-thumb should be adjusted to include "buy quality property and never sell" to ensure you maximize investment returns. But the reality is, that sometimes the smartest thing to do is to sell a property, even if it is a quality asset if it helps you move forward towards achieving your goals. So, in today's show, I chat with independent financial adviser Stuart Wemyss and discuss how to decide if your investment property is a dud and you should sell it, or even if your property is performing well what are the common scenarios where we would recommend you sell your property. Links and Resources: Michael Yardney Stuart Wemyss – Prosolution Private Clients Stuart's Books – Rules of the Lending Game & Investopoly Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get you a bundle of free eBooks and reports www.PodcastBonus.com.au Shownotes plus more here: Should you ever sell a property? Here are 4 times the answer may be yes with Stuart Weymss

As our population grows, and it surely will, this will place an increasing demand on our infrastructure and maybe we won't be able to keep up. Of course, it's much more than just being stuck in the traffic or wedged in overcrowded public transport just to get where you need to get to, according to my guest today, Ross Elliot. So, whether you're a property investor wanting to understand how future development and infrastructure are going to influence demand for housing or you're a business owner needing to understand what's ahead, I'm sure at the end of today's show you'll have more clarity from the insights Ross Elliot is going to share. Links and Resources: Michael Yardney Ross Elliott – subscribe to Ross' blog – The Pulse Read Ross Elliott's blogs on Property Update here Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get your bundle of free eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Can we trust the powers that be with the looming infrastructure shortage? With Ross Elliot

If you're a property investor, today's episode is a must. Why? Because the taxman is after you – you and all property investors. It's not long until tax time and the Australian Taxation Office is already preparing its so-called "hit list" of priority areas due for a crackdown in the 2021-22 financial year. Property owners, crypto investors, and those working in the gig economy will be front of mind for the tax office plus a number of other areas, so today Ken Raiss and I are going to look at this hit list in the hope that you'll be able to avoid a nasty surprise at tax time. What the taxman is looking for? Repairs vs. maintenance Interest expenses Property divestments Personal expenses including holiday homes Renting part of your home Double claims for interest expenses Incorrect Apportioning of rental income Weak claims for new rental properties Substantiation of expenses - receipts Links and Resources: Michael Yardney Ken Raiss- Director Metropole Wealth Advisory Get Ken Raiss to build you a Strategic Wealth Plan Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get your bundle of eBooks and Reports at www.PodcastBonus.com.au Shownotes plus more here: Attention property investors, the tax man is after you. Here's what he's looking for, with Ken Raiss

In this episode, Brett Warren discusses three questions with us, during this month's Q&A Day. These questions are: Why invest in affluent areas rather than cheaper more affordable areas? What will rising interest rates do to our rental markets? How do you stay positive when there's so much negative news in the media now? Links and Resources: Michael Yardney Brett Warren – National Director Metropole Property Strategists Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a bundle of eBooks and reports = www.PodcastBonus.com.au Shownotes plus more here: Q&A Day – Why not invest in affordable properties, rising rates and rents PLUS more, with Brett Warren

The Reserve Bank thought it had time on its hands and could be patient in lifting interest rates. However, evidence of strong inflation caught the RBA by surprise and it has raised its forecasts for inflation and cut its forecasts for economic growth and unemployment. The RBA forecasts that the economy will expand by 3.5 per cent over the year to June 2022, before picking up to a 4.25 per cent annual growth rate in December 2022. Underlying inflation is expected to exceed the top of the 2-3 per cent target band through to December 2023. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: The RBA forecasts what's ahead – and it has flip-flopped, with Dr Andrew Wilson

What are the big influences in our property market today? The main one is one you probably haven't thought about. We often talk about price growth and supply and demand and the economy, but the one I'm going to share with you today may change the way you think about buying your next investment. So hopefully, at the end of today's show, you'll have some clarity on the big influences and what we at Metropole research when we help make our recommendations. Is this the most significant factor driving our property markets? What is the little secret behind whopping price growth? It's not the economy, even though that's important. It's not supply and demand, even though that plays a role. It's not infrastructure spending, availability of finance, or population growth either. Although all of these things are important and undoubtedly impact our real estate markets, the truth is there is one major factor that drives property values more than anything else. And that factor is homeowners or as we sometimes call them – Owner Occupiers. Fact is: they own close to 70 percent of all the properties in Australia and therefore dominate our market and without them, it simply falls over. So, it's interesting that while owner-occupiers are one of the most significant influences on property, they are commonly overlooked. Here's a relatively current snapshot of the national property market according to the Australian Bureau of Statistics (ABS) and CoreLogic: There are 10.7 million residential dwellings Australia-wide with a total value of $9.8 Trillion Spread across around 15,000 suburbs An additional 130,000 to 160,000 new dwellings are added every year The total debt against these dwellings is $2 Trillion (giving an overall Loan to Value Ratio for residential property of just over 20%) Residential real estate makes up 55.6% of Australian household wealth Investors own around 27% of Australian dwellings by number, and 24% by value. There are more than 2 million individual property investors in Australia Each property investor in Australia owns an average of 1.28 properties This is why I always give the following advice to investors who are searching for a strong property performer: Buy the type of property that will appeal to owner-occupiers. Owning a property with an element of scarcity that is located close to amenities, jobs, transport, lifestyle features and cultural, social aspects like cafés, bars, and arts precincts will always attract home buyers. But these are features that appeal to tenants, too. In general, the more established suburbs with better infrastructure, shopping, and amenities tend to be close to the CBD and the water and that's where the wealthy want to and can afford to live, and they're prepared to pay a premium to live there. The rich do not like to commute. Overall, by focussing your research on what those often-overlooked owner-occupiers are doing, you may just find an investment that outperforms the market and delivers strong value and growth over the long term. The 7 biggest influencers of our property markets Regardless of the economy, cycle, or market conditions, property is always a hot topic of conversation. The reality is that the property market isn't an independent economy sector. Rather, it's inextricably linked to a myriad of other financial, social, and political factors, all of which impact what your family home, or your next investment property, might be worth. So, what are these factors? Household formation This oft-overlooked factor is actually more important than overall population growth because what increases the demand for housing isn't the number of people living in a city (or country), but the number of dwellings needed to accommodate them. Demographics It's likely that now that we're moving into a Covid normal life our borders will open meaning more and more people will want to come and live in the safety of Australia. The population growth corridors of our cities tend to be poor capital growth locations. At the same time these locations tend to be where new families and migrants move, and this demographic, which tends to have a little spare cash left at the end of the month, are areas where there is little ability to push up the value of properties – these are not high wage-earning areas. Affordability Investors should avoid blue-collar areas or young family suburbs and seek out suburbs where wages growth is higher than the state averages. These are locations where people can afford to and will be prepared to, pay a premium to live. These are often the gentrifying middle ring suburbs of our capital cities. Credit policy Over the past few years, we've seen the significant impact changes in credit policy can have on our property markets. The fact is people simply can't buy properties if they can't access the cash. And while interest rates are unlikely to rise in the next little while, APRA is likely to interfere to try and slow down our property markets. National wealth, wage grow

Australia's economy and our property markets don't operate in isolation, and Inflation is occurring all around the world, so that's why each month I take time out to have a look at the big picture, the macroeconomic factors affecting not just Australia's economy, but the world economy, to help us understand what's ahead for us, and I record these Big Picture Podcasts with Pete Wargent once a month. Will inflation send interest rates sky-high? Australia's inflation rate has predictably increased sharply again over the March quarter to the highest level reported since the introduction of the GST impacted prices back in 2000. So, what does this mean for interest rates, property markets, and their economy in general? Inflation We really must start the discussion today with the high inflation number - headline CPI increased 2.1% over the last quarter giving us an annual rise of 5.1%. This came in to be higher than what most market commentators expected. The primary driver of the inflation outbreak was related to increases in the price of fuel and housebuilding costs. Supply constraints are struggling to match demand from Covid stimulus policies The Ukraine war raised the price of oil to record levels in the March quarter Is it time for a rate rise? Interest rates will start to go up because of the inflation rise. It's not surprising that some commentators are looking back at the 1970s and 1980s when the Reserve Bank used interest rates to stop rising inflation which eventually led to a recession in the early 1980s and then again in the early 1990s. Interest rate hikes should be considered and gradual, the Reserve Bank has learned from the past. Interest rates will need to rise to keep Australia's dollar stable Inflation is a feature, not a bug. It's there by design and it's useful for those who own assets This is what will reduce the fall in house prices While it is well known that falling interest rates stimulate our housing market and push property prices up, and in time cash rate hikes have a negative impact on housing prices, that does not mean that cash rate hikes always cause a fall in housing prices. Strong employment and wage growth outlook will cushion the fall in house prices. Indebted households have very high savings levels which will limit the possibility of mortgage stress. Stronger regulation has reduced financial stability risk. A small percentage point increase in rates will have a relatively stronger impact on interest payments than when the cash rate started higher. Residential property borrowers have squirreled away a record $232 billion in offset accounts in the past 12 months The property boom is cooling down House price growth across the combined capital cities is 10 times slower this quarter compared to last, suggesting the property boom is on the cool down. Despite a slowing market, combined capital median house prices are at a new record high of $1.07 million. Units across the combined capital cities declined (1%) for the first time since June 2020, recording a median price of $616,942. Regional Australia is outperforming the cities for house price growth as the regional median house price increased by 3.1% over the last quarter and 20.8% annually. House prices in Melbourne and Canberra fell 0.7% and 0.9% from last quarter's record high. This is the first quarterly fall since the June 2020 quarter for Melbourne and the March 2020 quarter for Canberra. Perth has achieved a new record high house price for the first time since 2014. Brisbane and Adelaide are the only cities to have record-high unit prices, while Sydney, Melbourne, and Hobart units fall from the record high achieved in the previous quarter. This is the first time unit prices have declined in Sydney and Melbourne since mid-2020. Environmental risks are higher on the property market agenda. Have you ever considered climate change in the context of your property investments? Bush fires and floods have been very significant events in Australia over the last few years, and while the recent floods in Queensland and New South Wales were labeled a once-in-a-century event, I remember the Brisbane floods of 2011 very well. Climate experts have suggested that severe weather events may occur more frequently in the future. Moving forward, some areas may cost a lot more to insure. Others may be uninsurable. 3.5% of dwellings in Australia could be exposed to an elevated risk of climate-related events, and by the end of the century, that could increase to 8%. You have to consider these things, especially in high-risk areas. Links and Resources: Michael Yardney Metropole's Strategic Property Plan – to help both beginning and experienced investors Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Pete Wargent's new Podcast Shownotes plus more here: The Big Picture – economic and property trends you must understand with Pete Wargent Some of our favourite quotes from the show: "Everyone knows that the cost has gone up. It's not jus

If you were asked to list the top global news stories of the last year, off the top of your head, what would they be? Chances are you'd come up with some combination of COVID-19, lockdowns, economic woes, political conflict, floods, and other natural disasters, and maybe Free Britney thrown in for good measure. What's probably missing from your list is any good news, which seems pretty strange. Even in the midst of a global pandemic, surely a few positive things happened over the last year. So today I chat with Mark Creedon and we'll show you the world is not such a bad place to live in. Good News In 2021 It's not hard to find bad news in the media, and it's been said our brains are hardwired to look for the negatives. Today we're going to share some positive news stories you might have missed to brighten your outlook for the future. Now we could start off with the fact that the average Australian is wealthier than ever before and that over the last two years of the pandemic, the value of many homes has increased by at least 20% and in many cases 30%. And we could talk about the fact that anybody who wants a job can get a job in Australia. And we could of course talk about how while, unfortunately, some businesses are still suffering many businesses doing really well and will get to these at the end. But let's start with some big-picture good news stories. Let's kick off with by far the biggest good news story of the year: the COVID-19 vaccines. This is by far the most successful global health initiative ever undertaken. In less than two years not only did we come up with a way to overcome a brand new disease but rolled it out to more than half of humanity. Lots of good news on cancer this year. The American Cancer Society said there was a 2.4% decline between 2017 to 2018 — the largest one-year drop ever — and that between 1991 and 2018, cancer mortality has fallen by 31%. A lot of that is down to less smoking. The latest data on AIDS revealed there were1.5 million new HIV infections last year, a decline of 30% since 2010, and the lowest total number since 1990. 4. Stroke is the second-leading cause of death worldwide, and the third-leading cause of death and disability combined. New research released in September this year revealed that quietly and largely uncelebrated, we've made amazing progress, with the age-standardized number of cases decreasing by 17%, and deaths by 36% in the last two decades. Life expectancy has improved around the globe. Today most people in the world can expect to live as long as those in the very richest countries in 1950. The United Nations estimates a global average life expectancy of 72.6 years for 2019 – the global average today is higher than in any country back in 1950. According to the UN estimates the country with the best health in 1950 was Norway with a life expectancy of 72.3 years. Life expectancy in Australia continues to rise, with a baby boy expected to live to 81.2 years and a girl to 85.3 years, according to the latest figures released from the Australian Bureau of Statistics Worldwide, democracy appears to be under threat, but remember — bad news travels, good news doesn't. When Indonesia, the world's most populous Muslim country, produces the planet's most effective democratically elected leader — Joko Widodo — almost no one hears the story. Some of Australia's most beautiful natural sites, including the Daintree, the oldest tropical rainforest in the world, were returned to their traditional owners this year. A significant majority of people in wealthy countries now believe that having people of different ethnic, religious, and racial backgrounds improves society. In India, millions of people have gained access to clean water in the last two years. About 11.2 million, or 38% of all households in disease-vulnerable regions now have access to clean water, up from 2.9% in 2019. Look how many electric cars are being sold: 10% of global vehicle sales are now electric. More than a third of new German cars sold are now plugins, while in the world's largest car market EV sales have reached nearly 20%. In October 2021, the Tesla Model 3 was the bestselling car in Europe - not the bestselling electric vehicle — the bestselling car, overall The average Australian is wealthier than ever It's been suggested there is a war chest of $230 Billion in household savings Many homeowners have 30% more equity in their homes than they had 2 years ago Aussie super funds and shares portfolios are performing well Overall the total residential property market is worth close to $10 trillion and there is only $2 trillion worth of loans owing against all residential real estate. Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book h

If you're interested in becoming a successful property investor, my chat today with leading demographer Simon Kuestenmacher will be of real benefit to you, because we're going to talk about a demographic trend that is critical in understanding how our property markets will work moving forward. What is this trend? Probably not the trend you're thinking about. It's homeownership. Considering homeowners make up 70% of our property markets, I think you'll benefit from today's chat. Home Ownership Demographic Trends We often talk about Australians' passion for homeownership and how we are different from other parts of the world but are we really? Is Australian home ownership comparable with homeownership internationally? BY international comparison, the Australian homeownership doesn't appear to be overly high or low. Largely agrarian and industrial economies like Romania, Hungary, and Bulgaria have high homeownership rates, while highly urbanized service economies (Switzerland, Germany, South Korea) have relatively low homeownership rates. What does the census say about the percentage of renters in Australia? In 2006, only 26 percent of Australians (individuals not households as measured by the OECD) lived in a rented dwelling and by 2016 this number increased to 30 percent. Sure, today more people choose to rent as they move frequently for work opportunities (especially in their 20s and 30s before they have kids). What's happened to the percentage of homeowners based on age group over time? People born in the late 80s/early 90s have a homeownership rate of 37%. Their parents' generation was 50-55%. Every generation has a lower homeownership rate than the one before it. The two big benefits of homeownership: 1.) Owning a home is the most important factor in staving off poverty in old age. 2.) A homeowner builds the best house they can possibly afford. An investor or developer purchases the cheapest thing they can get away with. Homeowner homes are therefore of better quality. The type of houses Australians built in the past is very different from the modern home of today. Migrants have brought their preferences and styles with them and have changed the way homes look and the way we live. That is likely to continue. With our governments having a business plan to increase their population by around 40 million people by the middle of the century, that will impact what the home of the future looks like? Links and Resources: Michael Yardney Simon Kuestenmacher - Director of Research at The Demographics Group Simon's article on Home ownership in The New Daily As our markets move forward why not get the team at Metropole to build you a personalised Strategic Property Plan – this will help both beginning and experienced investors. Shownotes plus more here: Homeownership trends property investors must understand, with Simon Kuestenmacher Some of our favourite quotes from the show: "Australians seem to be obsessed with homeownership." – Michael Yardney "The modern home of today is very different." – Michael Yardney "You'll never regret taking a vacation, engaging in a new hobby, or spending a day with those who make you happy." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

How should you choose the location of your next investment property? And what are the floods going to mean for Brisbane property values? Those are two of your questions we answer in today's question and answer session with Brett Warren. In the end, you're going to learn a little about how we put our strategic property plan together to help Russel B left the following question – "Thanks for the great Podcast – I really love it – can I please ask a hypothetical question? If an investor had a spare $1m, where and how should they spend it? In the bigger capital city markets where the median property prices are now $1m (or close to) - where would their money be better spent? In the capital cities or further out where they can get more bang for their buck? Any areas that should be avoided at all costs?" While that's a good question - I'm afraid that's the wrong question, a shallow question, even though that's where most property investors start their journey. However, statistics show that around 50% of all property investors sell up in the first five years, and of those that stay in the market, 92% never get past their first or second investment property. So, if you want to outperform the average investor, if you want to develop financial freedom through property investing, then don't start by selecting a location, or looking for that ideal property. What makes a great investment property for you is not likely to be the same as what would suit a different investor at a different stage in their investment journey or with a different risk profile or with a different size portfolio behind them. The correct order is, to begin with, the end in mind - what do you want to achieve with your property portfolio and then build a Property Plan to get you there. So, my first recommendation to anyone asking where to invest is to sit with an independent property strategist to formulate their plan. When you invest in property there are really only three major levers you can pull: Your budget – and that is usually determined by the banks. Location and you can't afford to compromise on that. The right property in that location. And unless you have an unlimited budget, and that applies to very few of us, investors usually need to compromise on at least one of the above. So back to the original question – what makes a great property investment location? It's impossible to say this location is perfect for everyone. When selecting a location, I would initially start by eliminating locations. I suggest you should only consider investing in Australia's big three capital cities. I'm also saying that it's important to be very selective in choosing suburbs in these cities – investment grade suburbs that are likely to outperform. I recommend looking for an area that has a long, proven history of strong capital growth and is likely to continue to outperform the averages. In general, there are 3 types of property. A-Grade homes and "investment grade" properties are the type of assets you want to own, and the type of properties where great tenants want to live, not because they need to, but because they want to and are prepared to pay extra to live there. B grade properties still have a lot going for them, and during hot property markets like we are currently experiencing they still perform well, but their second location within their suburb or the less than perfect attributes of these properties mean they will slump more in downtimes. C grade properties – these are to be avoided unless they're in a great neighborhood and your intention is to demolish the property and replace it with something more appropriate for the location. Having said that can you give us some thoughts about how to invest that hypothetical $1million Sydney With the median house price in Sydney being well over $1 million, it would be hard to purchase an investment-grade house in a great location in Sydney, however, this budget would secure a family-friendly apartment in one of Sydney's high-growth suburbs. This makes "family-friendly" low rise, medium density apartments a great investment in Sydney's eastern suburbs, the Inner West or Lower North Shore. Melbourne Like in Sydney, $1,000,000 won't buy an investment house to get a great Melbourne, however, it would buy a townhouse which would make a great long-term investment. As rising property values create affordability issues more Melburnians are moving to townhouse living and getting modern large accommodation on compact blocks in Melbourne's inner-ring suburbs. Brisbane Brisbane has been one of Australia's top-performing property markets over the last 2 years and moving forward, Brisbane house prices are likely to continue to grow strongly. The Sunshine State is shining and strong demand for detached houses and outstanding demand for lifestyle areas means as an investor, if you buy the right investment property in the right location, you could be primed to supercharge your growth. $1 million would be a good home in an i

The media is full of concerns about the future of our property markets, so in today's podcast I'm chat with Ken Raiss, Australia's leading property tax accountant about the future of our markets and why we believe you shouldn't be concerned. I know there are lots of commentators out there who have a different view, but Ken has been involved in property almost as long as I have and if you've been regularly following this podcast or my blogs on Property Update you'll know that we have been pretty accurate in our forecasts over the last couple of years, so today we'll discuss how Covid changed our property markets, what's currently happening on the ground and what to look forward to. At the end of today's show, I hope you'll have more clarity on what's ahead. The Future of Our Property Markets Now that life is getting back to what some of us would call Covid Normal the housing markets are changing in front of our eyes. So how have our markets changed and what will the main drivers of our property markets be moving forward? That's what I want to chat about today with Australia's leading property tax accountant Ken Raiss director of Metropole Wealth Advisory. Let's first start by exploring some of the major impacts of the pandemic on the Australian housing markets over the last 2 years. Australian home values rose 25%, to record highs Despite negative predictions, last year was an extraordinary year in the housing market – around 98% of locations around Australia recorded rising property values with many properties rising in value by more than 20%. Before COVID-19, the ABS valued Australia's residential property at $7.1 trillion. It ended in 2021 with a valuation of $9.1 trillion. To put it another way, the growth in property wealth in the past two years is higher than all the gains over the decade before COVID-19 (2010-2019) combined. But that was an extraordinary market – a once-a-generation property boom, and this year property markets will behave differently. They will both behave more normally and be more fragmented First homebuyer activity spiked From June 2020, first home buyer activity surged amid the introduction of the HomeBuilder scheme, used alongside the First Home Loan Deposit Scheme, as well as other state-based grants and stamp duty concessions for first home buyers. The result was a spike in first home buyer activity, which peaked in January 2021. The spike mirrors first home buyer participation in 2009-10, which marked a temporary boost to the First Homeowner Grant. Since the January 2021 peak, first home buyer activity has diminished, reflecting higher barriers to entry as housing values substantially outpace incomes. Rents rose 11.8% to record highs, while gross yields fell to record lows There are multiple reasons rents have risen. Investor activity had been relatively subdued between 2017 and mid-2020. Rental supply may also have been eroded through the rise of rental services like Airbnb. This trend may have been particularly prevalent in tourism destinations across Australia, some of which have flourished amid a rise in domestic tourism in the past two years. Rents may have increased due to higher purchasing prices for investors who have recently purchased long-term rental accommodation. Over the course of 2021, annual rent value growth was at its highest level since 2008. The headline numbers hide the diversity of rental conditions. There has been a clear shift in rental preferences toward lower-density housing options through the pandemic, where the upwards pressure on rents has been more substantial. This trend has evolved over the past year, with rental affordability gradually deflecting more demand towards higher density rental options where the cost of renting is more affordable. Housing debt levels hit record highs Rapid increases in housing and rent values in the past two years were largely the result of a sizable reduction in the official cash rate. However, it is important to frame debt levels in the context of high asset values, and relatively low interest costs. RBA data shows housing interest payments to income have fallen to their lowest levels since 1999, and household debt has trended lower as a portion of housing values. The premium of house prices compared to units hit record highs Both the composition of the buyer pool and the impacts of COVID may have contributed to a record gap between house and unit values. Investors, who may have a preference for units, have been a relatively small part of demand through the upswing. Additionally, detached houses may have been in higher demand as Australians spent more time at home through the pandemic. Government policies such as the HomeBuilder grant may have also contributed to increased detached housing demand, due to tight construction timelines to qualify. The result is a record-high gap between house and unit values. The rise of the regions Migration trends over 2020 and 2021 revealed an uptick in the volume of people leaving

Last year was an extraordinary year for many homeowners and investors when their property values went up more than they owned in everyday regular income. Clearly, the market's changing. When the property market's booming, everyone's an investment genius. But when the property market's different, I think it's really important to listen to those who've got a perspective – who've lived and invested through many different cycles. That's why I'm talking to property researcher John Lindeman today. John believes that property values are going to keep rising. I know that's contrary to what some of the big bank economists are suggesting, so it will be interesting to hear his thoughts. In his recent report, John's gone back to 1901 to look at the statistics. He isn't just somebody thinking about property and telling you what's going to happen – he's done careful research to see what happens to property values when interest rates rise. At the end of today's show, I hope you'll have more clarity about what's ahead for today's property markets. Why property prices will keep rising Last year around 98% of locations around Australia recorded rising property values with many properties rising in value by more than 20%. Interestingly the Australian Bureau of Statistics said that the value of Australia's property portfolio skyrocketed to $9.9 trillion in 2021, driven by a record-shattering 23.7 percent annual rise in property prices. The collective wealth of homeowners increased by $2 trillion in just one year alone – a sum 30 percent larger than the annual output of the entire Australian economy. The growth in property wealth in the past two years is higher than all the gains over the decade before COVID-19 (2010-2019) combined. Some bank economists are predicting that house prices will fall this year or in 2023 as interest rates increase, but property market analyst John Lindeman explains why property prices will continue to rise. Economists are concerned that the Reserve Bank will soon raise interest rates to slow down inflation because inflation is very hard to reign in once it takes hold. They believe that higher interest rates will make housing less affordable, and that lower buyer demand will then push prices down. It seems to make sense that higher borrowing costs will reduce buyer demand and therefore prices will fall. But it's hard to test this theory because interest rates have gradually declined since 1990 when the standard variable home loan rate was all the way up to 13.5%. For over 30 years property prices have grown and interest rates have fallen. There certainly is a strong correlation between falling interest rates and rising property prices, but does this mean that the reverse is also true? How can we be sure that if interest rates rise, property prices will fall? In the last 30 years, property prices did not fall when interest rates rose One-third of our housing is fully owned, with mortgages having been paid off and no remaining debt. The owners are mostly older couples living in empty nests and when they sell, it will be to downsize. So, interest rate rises are of no concern to them. Another third of our housing stock is owned by investors who can claim the cost of housing finance interest against all their other income. This means that interest rate rises reduce the amount of income tax they pay. They can also raise asking rents on their properties to recoup the cost of any interest rate rises. Only one-third of our residential properties have mortgages that are being paid off by owner-occupiers. Most of them purchased their homes many years ago when rates were much higher than they are now. Their financial situations have improved since then and they have probably paid down some of their debt, so a rise in interest rates is manageable Only first home buyers are badly impacted when interest rates rise Some highly leveraged recent first-time buyers in new outer suburban first home buyer areas may experience mortgage stress when interest rates go up. If enough of them are forced to sell, and the number of potential first home buyers also falls, there is a risk that property values in first home buyer locations may fall. But first home buyers only comprise around one-tenth of all homeowners, and despite the personal and social impact of such events when they have occurred in the past, local markets have always bounced back into growth within a few months. The only times when housing prices went backward were during the First World War, the Great Depression, the Sixties Credit Squeeze, the Recession "We had to have", the Global Financial Crisis and most recently, because of APRA restrictions on the amount of housing finance that investors could obtain from the banks. The aim of interest rate rises is to curb inflation, not hit housing prices Because rising interest rates only impact a small percentage of homeowners, we should look at the reason that they are increased, which is to slow down the rate of inf

Maybe you're too biased to become a successful property investor? What do I mean by that? Well…did you know that we can sometimes be our own worst enemy as property investors? It's not because of the decisions we make, the opportunities we consider, or the investments we miss out on, but rather, it's due to the way we think. brains. By the last count, I've read that there are 188 types of these fallible mental shortcuts in existence, and they constantly impede our ability to make the best decisions about our careers, our relationships, and for building wealth over time. So, whether you are a beginner or an experienced investor, whether you're in business or an entrepreneur you'll enjoy my chat today with Mark Creeden, founder and CEO of Business Accelerator Mastermind as we discuss why seemingly rational people act irrationally when it comes to money. Cognitive Biases You Need to Know Without always knowing it, property investors are pre-programmed with a range of biases which may cause them to interpret information incorrectly and thus undertake sub-optimal investment decisions. You see, most of us think we're rational people but we're not. There is no shortage of cognitive biases out there that can trip up our brains. However, because cognitive biases are based on generalizations and assumptions, they can't always be correct. And if you don't check your reasoning, they can lead to judgments and decisions that negatively impact your business. Confirmation bias People tend to search for information that confirms their view of the world and ignore what doesn't fit. In an uncertain world, we love to be right because it helps us make sense of things. One way to counter confirmation bias is to read things you're going to disagree with. In other words, read all you can from reputable sources, whether it's confirming your original view or not. Anchoring bias We have a tendency to use anchors or reference points to make decisions and evaluations, and sometimes these lead us astray. This is because the initial price you set for a house or car or more abstractly, for a deal of any kind, tends to have ramifications right through the process of coming to an agreement. Whether we like it or not, our minds keep referring back to that initial number. It's important for you to evaluate any property deal based on its own fundamentals and all the information you have available from your research and due diligence at the time. Awareness bias How are your investments performing – are you happy with the results you're getting? It's been shown the poorest performers in all areas of life are the least aware of their own incompetence, a phenomenon known as the Dunning-Kruger effect. If you're the smartest person on your team you're in trouble. It's best to work with a team of mentors and professional advisors. Positivity bias In the face of lack of capital growth, prolonged vacancies, or inflated expenses, some investors continue to believe that their investment will turn the corner "one day." The problem with this is that when all signs point to a dud investment, it likely is one – but positivity bias can stand in the way of an investor taking action to rectify the situation. One of the best things an investor can do is admit what they don't know and get a good team of professionals around them. Negativity bias Just as some investors can be overly positive this is the tendency to put more emphasis on negative experiences rather than positive ones. Our ancestors evolved a brain that routinely tricked them into making three mistakes: overestimating threats, underestimating opportunities, and underestimating resources. This helped keep them alive. It's a great way to pass on genes, but a lousy way to promote quality of life or grow your wealth through property. Fact is: there will always be property pessimists around, but you can minimize your risks and maximize your upside if you educate yourself and become financially fluent, follow a proven strategy, and get a good team around you. Status quo bias This describes our tendency to stick with what we know, whether or not it's the best course of action. Psychologists call this "loss aversion" and it explains why so many Australians are willing to stick their money in a plain old bank account earning minimal interest, rather than taking the "perceived risk" of property investment. Successful investors, businesspeople, and entrepreneurs have mentors, coaches, and mastermind groups to help them see their blind spots and to encourage them to keep moving forward. Survivorship Bias The misconception here is that you should focus on the successful if you wish to become successful, while the truth is that when failure becomes invisible, the difference between failure and success may also become invisible. The trick when looking for advice is to not only learn what to do but also look for what not to do. Bandwagon bias This is the psychological phenomenon whereby people do something primarily

The property market is going to crash! How many times have we heard that one recently? 2021 was a year like no other - prices boomed creating new records and as the value of Australia's housing market skyrocketed, the collective wealth of homeowners jumped by over $2trillion despite the pandemic. And sure, it's clear that we won't see the same level of overall price growth in 2022. But a housing market crash? I don't think so, despite all the messages in the media suggesting it will occur. If you're a regular listener to this podcast or follow my blogs you will know that I have a weekly video chat with Dr. Andrew Wilson, Australia's leading housing market economist. Today's podcast is the audio of one of my recent chats with Andrew, who has an enviable record of property market forecasts and together we share 10 reasons why we don't think we're heading for a property market downturn soon. 10 Reasons Why the Property Market Won't Crash 2022 has already turned out to be a fascinating year in real estate. Last year was unusual when we experienced a once-in-a-generation property boom and values grew strongly almost everywhere. But now there seem to be more pessimistic forecasts about the short-term future of our housing markets than there are positive market commentators. If you've been watching our regular Property Insider weekly chats you would know that we believe property values will still grow this year, but more slowly and the markets will be much more fragmented, which of course is more normal. I don't want to minimize the horrors of war and the obvious humanitarian disaster that is occurring in front of our eyes. Nor do I want to downplay the terrible effects of the floods in Australia or the effects that supply shortages and rising global food prices will create in the developing world, but today I'd like to concentrate on some of the good news that can easily get lost and why I'm still confident about the future of the Australian Housing markets The average Australian is wealthier than ever It's been suggested there is a war chest of $230 Billion in household savings Many homeowners have 30% more equity in their homes than they had 2 years ago Aussie super funds and shares portfolios are performing well Overall the total residential property market is worth close to $10 trillion and there is only $2 trillion worth of loans owing against all residential real estate. Half of all homeowners have no mortgage ANZ bank suggests 70% of their borrowers are ahead in their mortgage payments It is estimated that $1.37 billion is sitting in offset or redraw accounts which would act as a buffer There's no evidence of mortgage stress for the majority of borrowers Interest rates are low and even when they rise, it will take 5 x 0.25% rises in rates to bring them back to where they were 3 years ago. And there was minimal mortgage stress then. Banks have been very conservative in stress testing loan applications and most who borrowed over the last couple of years will be able to handle the interest-rate increase of 2.5% or even 3%, and those who borrowed prior to these stricter requirements being brought in would have considerable equity in their properties Interest rates rose over a 6-year period commencing in 2002 and again in 2010-11 after the GFC yet the value of well-located properties continued to increase in most years that interest rates rose. Sure, many first home buyers have extended themselves and they will be the most vulnerable, but they'd rather eat Maggi Noodles than sell up their homes. Rising interest rates did not make the market fall in the past There is a shortage of supply of good properties at a time that Overseas Migration is going to pick up. Melbourne and Sydney will be the main beneficiaries of this. The same "experts" who are currently predicting that property markets will crash in 2023 are the same ones who have made multiple incorrect Doomsday predictions over the last couple of years. Our export income will improve because of the Russian Ukrainian crisis. Our tourist income will improve now that our international borders are opening. Australia's economy is growing strongly and will continue to do so and anyone who wants a job can get a job There's a shortage of rental properties, and rents will increase strongly this year, bringing more investors back into the market. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Why are you worried? The property market won't crash. With Dr Andrew Wilson Some of our favourite quotes from the show: "In general, they'd rather eat Maggi Noodles than sell up their home, so they're not going to end up selling up and making the property marke

2022 promises to be a fascinating year in real estate. Last year was relatively unusual – we experienced a once-in-a-generation property boom where values grew strongly almost everywhere. Around 98% of locations across Australia recorded rising property values; with many properties rising in value by more than 20%. This year is shaping as a more "normal" market, where some locations will still see strong property price growth, some will experience moderate price growth, some locations will languish, and a few locations will see property values falling. And this will be dictated by local supply and demand and local economic conditions. New factors will further underpin our property markets this year. More investors will be getting into the market due to finance approval and higher rents. They will replace the first home buyers who are now finding properties less affordable. Around 200,000 visa holders will be coming to Australia in the next year as our international borders open. They will primarily be coming to Melbourne and Sydney where the jobs are Don't be scared by the property pessimists. Don't lose any sleep over the predictions that property values will drop 10 - 15% in 2023. In my mind the big banks' economists will be wrong – just like they were with their calls of property Armageddon in 2020. Property investment rules to keep in mind in changing times like these It seems that everyone is an investment genius when the property markets are booming. But even though our property markets have been resilient, in fact booming, the markets seem to be slowing down a little. And don't be fooled into thinking that all our economic and business problems are over. Now don't get me wrong – I don't think there's a property crash any time ahead, but I clearly see many headwinds that could slow us down – both international and local challenges. That's probably why I've been asked by both clients and the media what rules do I apply in times like this when the markets are changing in front of our eyes. Become financially fluent The secret to financial freedom is to spend less than you earn, save the balance and then wisely invest your savings in growth assets. Becoming financially fluent means you will invest rather than speculate. One of the reasons most investors don't develop the financial freedom they deserve is because they don't understand the rules of money and they end up buying their properties with emotion. Be it your first property or your next property, it should be part of a long-term plan and a stepping stone to building a substantial portfolio. By having a plan and a system to gauge the worth of an investment you will achieve better results. Learn to invest rather than speculate. Don't buy properties with emotion. Instead, you must start with a strategic property plan. First concentrate on building a substantial asset base over a number of property cycles, then slowly lower your loan to value ratios. Eventually, you'll be able to live off your cash machine. In other words, invest for the long term. Not every property is an investment-grade property Remember that while the location of your property will account for around 80% of its performance, it's also important to own the right property to suit the local demographic. Don't believe the hype Be careful who you listen to for advice. There are some great independent advisors out there, but the market is flooded with developers, property marketers, and real estate agents who don't really have your best interests at heart. Location does the heavy lifting Location will do 80% of the heavy lifting for your property's performance and that's why I only invest in select suburbs of our three major capital cities. Most jobs, most wages growth, most population growth and most of our economy happens in Australia's capital cities and in particular in our big 3 capital cities. Demographics drive markets Over the long-term demographics will be more important in shaping our property markets than the short-term ups and downs of interest rates, consumer confidence, and government meddling. Real estate investing is a game of finance with some properties thrown in the middle Cash flow management and the correct finance strategy is critical to successful property investing. This is little to do with low-interest rates and much more to do with having the correct finance product and setting aside financial buffers. The economy and our property markets move in cycles Property cycles vary in length and are affected by a myriad of social and economic factors and then, at times, the government lengthens or shortens the cycle by changing economic policies or interest rates. Market sentiment is one of the key drivers of property cycles and one of the reasons why our markets overreact, overshooting the mark during booms and getting too depressed during slumps. My 6 Stranded Strategic Approach to buying property: It's below intrinsic value — that's why I'd avoid new and off-the-pla

Are New Year's resolutions powerful? Or are they pointless? Every year more than 50% of people make New Year's resolutions. They plan to lose weight, quit smoking, work out, save money, get a promotion, get a raise, move their business to the next level, buy that investment property, and more. And yet, virtually every study tells us that around 80% of New Year's resolutions will get abandoned by this time of the year. So maybe you didn't keep up that resolution to exercise more or go to the gym, but today in my chat with Mark Creedon, founder and CEO of Business Accelerator Mastermind, we're going to talk about how to make 2022 a great year for you. Have you lapsed on your New Year's Resolutions? Whether it's a small, (seemingly) easily achievable goal or a huge, life-changing goal, people tend to fail at the same rate: Approximately 80 percent of people who make New Year's resolutions have dropped them by the second week of February. Some reasons why your resolutions may have failed. You're treating a marathon like a sprint Small changes stick better because they aren't intimidating. You're in too much of a hurry If it was quick and easy, everybody would do it, so it's in your best interest to exercise your patience muscles. 3. You don't believe in yourself The only way to defeat doubt is to believe in yourself. Who cares if you've failed a time or two? This year, you can try again (but better this time). You don't track your progress Keeping a written record of your progress will help you sustain an "I CAN do this" attitude. You have no social support It can be hard to stay motivated when you feel alone. The good news? You're not alone. You know your what but not your why The biggest reason why most New Year's resolutions fail: you know what you want but not why you want it. So, here are 9 strategies to rescue those resolutions: You can't achieve new goals or make desired changes without allocating time to do so. To make this a better year you will have to do things differently from last year. There are obviously some things you are going to need to keep doing, some new things you will need to do, and a bunch of things you'll have to stop doing to make room for the new, more productive activities. Priorities should govern schedule; schedule shouldn't govern priorities. To have a better year this year you'll have to wrest control away from others' priorities and be governed by your own priorities. Resolutions aren't resolutions without resolve. So, don't bother making resolutions to appease or satisfy others. Be honest with yourself – that's a prerequisite for success. Resolutions require resources. You aren't really serious about a resolution unless you invest in and gather the required resources. Sometimes investment motivates follow-through since you've spent time, effort, and money on it. But don't be held back by limited resource thinking. If you are truly committed, you'll find the resources. Daily Progress Refuse to end any day without doing something that moves you toward the goal, no matter how small! Who motivates the motivator? Any professional sports coach will tell you: measurement automatically improves performance, and measurement monitored by someone else, further improves performance. Build up to change So, say you resolve to get up an hour earlier every morning to work on some projects. You could start with 15 minutes for two weeks, then 20 minutes for two weeks, then 30 minutes for a month, then 45 minutes for two weeks, and then you will find reaching the hour mark a lot more achievable. It's not too late to regroup! You may already have let your resolutions slip away. Doesn't matter. Review the resolution and pick one or two that mean the most and apply the 7 ideas I've just shared with you. Don't try and do it all on your own It's really hard to be successful on your own. You need to find an accountability partner, a group of like-minded people, a coach, or talk to me about Business Accelerator Mastermind and I'll show you how we provide all 3! Links and Resources: Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Why not join Metropole's Business Accelerator Mastermind Learn more about Mark Creedon – Business Coach to some of Australia's leading entrepreneurs Get a copy of Mark's new book here – Have a business not a job Get your free bundle of reports and eBooks – www.PodcastBonus.com.au Shownotes plus more here: Where did my new year's resolution go? 9 Strategies to rescue them, with Mark Creedon Some of our favorite quotes from the show: "Just because 98% didn't get past their first or second or third property (well actually 92% don't get past their second property) that doesn't mean that you can't." – Michael Yardney "One of the comments I often make is: you haven't come this far to come this far. So, keep going." –Michael Yardney "Nothing changes until you change, and part of changing is changing who you hang around

If you've been listening to my podcasts or reading my blogs, you'll know I have a number of rules and frameworks to help my property investing. By having these it takes the emotion out of investing and makes the results more predictable, but what's the most important golden rule of property investing? That's a question I'm going to ask today of leading financial advisor Stuart Weymss, who's written a book about the golden rules of investing so let's see which rules have stood the test of time. The Golden Rules of Property Investing What's the most important factor in your property investment success? Well according to leading independent financial advisor Stuart Wemyss the most important rule is the quality of your assets. But what does this really mean and can really be as simple as that? So, let's start with the obvious question - what does quality mean? Quality really means that a property will benefit from excessive demand. What investment-grade means The Supply-demand equation Limited supply Demand is diversified Look for properties that attract buyers that can and are prepared to pay more because of their higher incomes. Factors that drive demand. Amenities. This includes necessities such as supermarkets, family doctors, dentists, etc. Equally important are entertainment amenities including cafes and restaurants, entertainment venues, parkland including running and bike tracks, and so on. Proximity to employment opportunities. There will always be substantially better employment opportunities in large capital cities for most industries. Schools. This can include sort after public school zones as well as desirable private schools. Proximity to schools can contribute a lot towards capital growth. Culture/community. It's a positive attribute for a location to have a good community vibe/feel. This is often present in local shopping strips and the mixture of businesses adds a lot to this attribute. Some inner suburbs lack this and it's to their detriment. Healthcare. Proximity to hospitals is important to some buyers, particularly older folk. Transpor This includes good public transport easily within walking distance as well as major arterial roads. Neighborhood Well also discuss playing the long game. Short term profit does not create long term value Three reasons short-term opportunities are inferior Risk-based returns Compounding capital growth Taxes Links and Resources: Michael Yardney Stuart Wemyss – Prosolution Private Clients Stuart's Book – Rules of the Lending Game & Investopoly Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Shownotes plus more here: Is this the most important Golden Rule of property investing? With Stuart Wemyss Some of our favorite quotes from the show: "Of the properties on the market at the moment, in my mind, there's probably less than 5% that I would class as investment-grade." – Michael Yardney "Even when you buy a home, for most people it's not their final home. It's not their forever home, so they should still think like an investor." – Michael Yardney "Enjoy the journey, because if you don't enjoy the journey, you're not going to appreciate the destination when you get there." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

Today's podcast will be a little different. Today I'm going to be brutal. I'm not holding back and I'm going to tell you some brutal truths about property investing You'll learn some of the things that can go wrong. You'll learn about the frustrations of being a property investor. You will learn some of the ways in which slick marketing can lead you astray. But stick with me. It's not all negative. Understanding what could go wrong is one way of making sure things don't go wrong and you can enjoy the success a small group of property investors enjoy. The problem is most people who get involved in property investment don't develop the financial freedom they're after. 50% of new investors sell up in the first 5 years Most investors never get past their 1st or second property Only 20,000 Australians own 6 properties or more. Now, this is not the type of information most people tell you about property when you first get started. That's probably because many of the people you speak with are trying to sell you something – sometimes it's a property – in other cases it's their services (buyers' agents). This episode is my attempt to redress that balance a little bit and share some brutal truths about property that you don't often come across. Despite what some people will tell you, property investment isn't easy. But it's simple. Now that isn't a play on words. What I'm trying to say is that if you do what most property investors do, you'll get the same results as most property investors get — and that's not pretty. You'll be heading in the right direction if you understand the following truths about real estate investing. Sorry, but... Property markets go through cycles. There are times every property cycle when values stagnate — sometimes for several years. And there are short periods when the value of your properties will fall a little. A-grade homes and investment-grade properties are less volatile – but property prices do fall at times, occasionally for several years in a row. You need a significant amount of money to invest You do need money to invest in property. If you don't have the financial discipline to save a deposit, you shouldn't be borrowing money to get involved in property. You can get rich over the long term, but it is not a get-rich-quick It takes the average investor 30 years to become financially independent through property Most investors waste the first ten years making mistakes and learning what not to do. The next few years are taken up selling underperforming assets and getting their financial house in order. Then it takes two or three good property cycles to become wealthy through property. Of course, you can shortcut this by getting the right mentors early in your journey. Saying "I'll be fearful when others are greedy, and I'll be greedy when others are fearful" is much easier than doing it. Most investors are overly optimistic during booms when they should be cautious and most pessimistic during downturns when they are surrounded by opportunities. No one really knows what the property market will do in the short term While in the long term our markets are driven by fundamentals, in the short-term human emotion and crowd psychology play havoc with the best-laid Real estate investment is a game of finance with some properties thrown in the middle Strategic property investors buy themselves time in the market by having financial buffers in place to see them through the ups and downs of the property cycle. Property investment is meant to be boring. Make your investing boring so the rest of your life can be exciting. There is more free property information available today than ever before, but much of it is useless Most market news is not only useless, but it is harmful to your financial health. Be careful who you listen to Rather than listen to the get-rich-quick stories, it's worth listening to those who talk about their mistakes and avoid the spruikers who don't — theirs are usually much bigger. There is virtually no accountability for the many property gurus and their hot spot predictions I find it interesting that people who have been wrong about everything for years still draw large crowds of followers looking for the next get rich quick scheme. The more "comfortable" an investment feels, the more likely you are to be taken by marketers or salespeople Avoid rental guarantees or promises of certain returns. Despite what most would like to think the biggest difference between ultra-successful property investors and the rest is not their property strategy or their investment "secrets." It's the way they think — their "mindset" and their Rich Habits. If you have credit card debt and are thinking about investing — stop Become financially fluent before you start investing otherwise the significant debt, you'll take on buying property will most likely overwhelm you. Residential real estate is a high growth, relatively low yield investment, so don't buy real estate for cash flow Of course, c

Do you want to be a successful property investor? Is so, you'll have to do things differently than most investors. One way to do that is to treat it like a business. Today, I'll be discussing this concept in detail with Australia's leading property tax accountant Ken Raiss, director of Metropole Wealth Advisory. I'm sure you'll find his take on things will be a little different, but you'll get some great insights to help you move your property investing up a level. Build Your Property Investment Business Property investors start their journey with good intentions great enthusiasm, but unfortunately, 92% don't manage to get past the stage of ever owning one or two investment properties. And less than 1% of investors build a portfolio of six or more properties. So, where did they go wrong? But in most cases, the root of their problem lies in their strategy – or rather the lack of one. It never fails to amaze me how many people go into property investing without any sort of strategy, let alone one that is specifically crafted to match their personal criteria, goals, time frame, budget and risk profile. It's like starting a new business without a business plan – and without any idea of what you want to sell, or how. And if you think about it, property investing is a business decision. So, how do you treat your properties like a business? Every property that doesn't fit your overall strategy will be the wrong choice.It's critical to get some expert guidance when developing your strategy to ensure you consider all the important factors relevant to your current position and long-term wealth creation and lifestyle goals. What does it mean to treat property as a business? All too often people are led into a false sense of security that a residential property in Australia will grow in value But less than 5% of properties are investment grade. You must also consider the money you use both from savings and borrowings. In today's market, you will need to spend $300k even on a less desirable investment and much more for an investment-grade That level of spending should require an understanding of the economic and market dynamics, a capability to identify the gems, and an ability to negotiate professionally. Most sellers go through a real estate agent who is trained and practiced at this and performs these functions daily. It is not a level playing field. You need to tip the scales back in your favor by seeking professional help. Buying the right property then gives you the best chance to maximize future capital growth which leads to improved rentals, equity to use for future purchases, and as part of an exit strategy to maximize capital gains. As a business, you need to consider future and current use, funding, potential to manufacture equity (as opposed to just waiting for the market), buying structure, impact on future lifestyle, and intergenerational wealth transfer. This requires a more holistic approach where the various components of tax, structures asset protection estate planning, risk, and retirement must be all taken into account under one central umbrella. Why is asset protection so important? Asset protection needs to be considered under three circumstances You work in a litigious profession such as a surgeon You find yourself in a management role where you take on responsibilities for employees where issues such as occupational, health, and safety concerns are part of your responsibilities. When you are wanting to wind down and live off the fruits of your hard work you do not want an unfortunate accident to wipe out your wealth through litigation. As a property investor, your risk is higher than normal as your tenants can sue if they are injured through your carelessness. In the case of litigation, you risk the loss of all your assets which could include the family home. There are specific steps we should all take such as not being in a position to be sued and having adequate insurance, but we all know this is not always enough. Many people are advised to move these assets to a trust if they feel sufficiently concerned but this triggers CGT and stamp duty and for the family home the potential loss of the main residence exemption and land tax exemption. There are strategies to eliminate these taxes which we at MWA assist our clients with and that is to implement an Equity Transfer Trust. You can also purchase your assets in a more appropriate structure from the beginning. Links and Resources: Michael Yardney Ken Raiss- Director Metropole Wealth Advisory Get Ken Raiss to build you a Strategic Wealth Plan Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Shownotes plus more here: Build a property investment business you can be proud of with Ken Raiss Some of our favourite quotes from the show: "If you don't ask your consultants the right questions, sometimes they won't be forthcoming." – Michael Yardney "A trust is really just a document, a piece of

How steeply will house prices fall after this boom? Are townhouses good investments, what's ahead for Brisbane property? They are some of the questions we answer in today's Q&A podcast with Brett Warren. Question: Can real estate prices really keep rising considering where they are today? In the past, property values rose because interest rates dropped and prior to that one-income households became 2 income households, and we know financing became easier to obtain, but what will be the driver for future capital growth? That's a great question and the simple answer is yes property values can keep rising, but not everywhere and not to the same extent as they have over the last year. Now that I've given the spoiler alert let's dig into this more deeply so that you can understand my rationale behind those answers. Bank Predictions The Australian banks don't have a good track record in housing market forecasts. But if house prices fall by the amounts predicted this time around, that will make it the biggest housing downturn in modern history. The last time property took a downward turn was in 2018, when Australian house prices plunged by about 5 percent overall. Prices also fell 4.8 percent in 2011 after a period of post-global financial crisis rate rises from the Reserve Bank. Those falls pale in comparison to what banks now predict. They are quite remarkable forecasts. Why would house prices fall? Currently, Reserve Bank interest rates are low to bolster the economy and stimulate inflation and wages growth. Once the Reserve Bank believes inflation is comfortably and consistently within its desired band of 2 -3% and unemployment is low enough to cause significant wages growth, then the RBA will slowly raise its interest rates from stimulatory levels to neutral levels. Of course, there is some conjecture as to how high a neutral interest rate is, but considering the general level of Australian household debt, it is unlikely to require a big rise in rates. There is no reason for the Reserve Bank to raise rates sufficiently high to create a recession or a housing market crash. Moving forward some areas will strongly outperform others If social distancing and the Covid-19 environment have taught us anything, it has taught us the importance of the neighbourhood we live in. If you can leave your home and be within walking distance of, or a short trip to, a great shopping strip, your favourite coffee shop, amenities, the beach, a great park, the recently implemented coronavirus restrictions might seem a little more palatable than if you had none of that on your doorstep. That's why choosing the right neighbourhood is important for property investors. Question: Thanks for your podcast, I now understand the importance of selecting the right location to do the heavy lifting as you frequently mention, but I can't really afford a home in investment-grade suburbs of our capital cities. Rather than apartments, what do you think of townhouses as an investment? It's important to understand why we recommend buying investment-grade properties rather than affordable properties, and as you've hinted in your question a lot of this has to do with buying in the right location. The more affluent locations are likely to be less affected by external influences than the non-blue chip areas. So, one question you need to ask when buying an investment property is will there be ongoing demand from both owner-occupiers and tenants to live in this area despite what might happen to the world economy, the local economy, or local market conditions? You should also ask yourself the question are people living in this location going to be earning more income than average, having higher increases in their income than average, and will they be able to pay more to buy or rent in these locations? With houses becoming more unaffordable for many families, I see townhouses becoming more popular, particularly for millennials who no longer want to live in apartments but can't afford homes in the more established suburbs of our capital cities. Townhouses typically provide the size and privacy of a home, as well as outdoor space but on a compact block of land and being 2 stories, they utilize verticality to retain internal sizes. Because they are in smaller blocks of land, they are usually cheaper than single-family houses. I've seen some very large complexes of townhouses built on very small blocks of land in some of the outer suburbs – I don't see those making good investments. As always, the other investment criteria regarding investment-grade locations must be adhered to. Question: I was considering employing an advisor agent to help with my next investment property because he said he specializes in buying off-market properties. Can you really buy off-market properties? And is one really able to get them for well under the market value? Understand the difference between off-market and pre-market We buy these a lot at metropole - but vendors are very inform

Boy, there's a lot going on in the world right now isn't there? Overseas there are all the geopolitical issues, and back home there are our own political issues plus concerns about wages growth, inflation, and the economy. Of course, Australia's economy and our property markets don't operate in isolation, and that's why each month I take time out to have a look at the big picture, the macroeconomic factors affecting not just Australia's economy, but the world economy, to help us understand what's ahead for us, and I do this once a month in these Big Picture Podcasts with Pete Wargent. There has been a lot happening since I last spoke with Pete, so I'm sure you'll get a lot out of the show. Russia / Ukraine A lot of the world has been imposing sanctions on Russia, which will greatly impact the Russian economy. There is currently a huge humanitarian crisis. The world is seeing increased fuel and gas prices. Australia will probably reduce its dependence on Russian fossil fuels. Inflation will probably stick around longer because of this conflict. Monetary policy will become more complicated worldwide. We are likely to see more spending on defence. Brisbane Floods There has been some recent dramatic flooding in Brisbane, and while in the medium term our focus must be on the safety and rebuilding of Queensland, we also must consider the long-term effect of this flooding. The initial focus will be on clean up. Next will be repairs and insurance claims. In the five years after the 2011 floods, house prices in Brisbane increased by about 25% History suggests that the housing market will snap back quickly. Australia's Great Resignation? Information from the NAB Survey: While around 1 in 5 working Australians actually did change jobs in the past year, when asked about their plans to do so, almost 1 in 4 (23%) said they were also considering leaving their current place of employment. A further 4 in 10 (41%) indicated they were not considering leaving their current jobs but were keeping up to date with potential job opportunities. Around 3 in 10 (31%) said they had no intention to change jobs and did not keep up with potential job opportunities. Just over 1 in 20 (6%) were unsure. A greater share of full-time workers are considering leaving their jobs over the next 12 months (24% vs. 18% of part-timers). By age, younger workers are more likely to be considering a change (28%), but a sizeable share of Australians aged 30-49 (23%) and 50-64 917%) are also considering doing so. Importantly, the survey also finds that many of the key reasons workers are contemplating leaving their jobs are "push" factors - a lack of personal fulfillment, purpose or meaning, lack of career growth, mental health, poor pay, and benefits. Many Australians who are considering changing jobs are also looking for a fresh start, with around 3 in 10 planning to move to a different or new role in a new industry. Wages data and Interest rate rises. As expected, the Reserve Bank Board decided to maintain the cash rate at 10 basis points. When is the Reserve Bank going to raise interest rates? How high will interest rates go this cycle? These are questions of speculation and concern to commentators, homeowners, and investors. Some commentators were pointing to the possibility of rate hikes as soon as this June. If the RBA raises interest rates this year this will further decelerate already slowing housing price growth. However, for the bank to raise the cash rate, it will need inflation 'sustainably' within the 2% to 3% range – a scenario that would require wages growth in the order of 3-4%. Although the latest inflation data was stronger than expected and underlying inflation is back within the RBA's target range, the board will be waiting for evidence that wages have turned a corner. What are neutral interest rates? Interest rates are currently at very low stimulatory rates, and at some point, the Reserve Bank is going to need to raise them, not to slow down the market, but to allow a comfortable level of inflation and wages growth to occur. How high these rates will go will determine whether the household sector will be able to service higher mortgage rates. Currently, Australians are wealthier than they ever have been, and many are months ahead in their mortgage repayments. The NAB CEO suggested that he can't see mortgage stress occurring with rate prices anytime soon. Wages and rents are going to increase Home loan activity up again over January Home loan activity continued to rise over January In fact, home lending increased by 44.2% over the ending of January 2022. Net arrivals positive for the first time since June 2021 There were only 245,000 short-term visitors to Australia in 2021, down from 9.5 million two years prior. But now things are beginning to look up for the country's tourism sector. Australia eased its international border on 15 December 2021 to the 235k visa holders currently outside Australia. It also opened travel bubbles with Ja

Last week I was shocked to read the headline "Property prices set to tumble 15% as Ukraine crisis bites." It seems like the media and many commentators are looking for an excuse, any excuse, to explain why our property markets are going to crash. But now AMP has come out suggesting the fallout from the Russian invasion of Ukraine could slow Australian residential property sales, increase inflationary pressure, and accelerate a downturn in prices of about 15%. And that's despite Australia's property markets generally performing well during major economic, military, and terrorist crises over the last 35 years. And these forecasts don't seem to take into consideration the strength of the Australian economy, the shortage of good housing in Australia which will be challenged by a flood of incoming migrants, and the resilience of our housing markets and the Australian banking system. Now what's happening on the other side of the world is horrific, and the humanitarian and economic impact will be tremendous and possibly long-lasting, but what will it mean for our local property markets? That's what I'm going to ask Dr. Andrew Wilson, Australia's leading housing economist and chief economist with My Housing Market in today's Property Insiders chat. What will the Ukraine Crisis do to our economy and property markets? Will a war overseas cause local housing values to crash? The biggest local threat from the Ukrainian crisis – outside escalating into a regional or nuclear war – is likely to be rising oil and energy prices increasing inflationary pressure and the prospect of higher interest rates. While the Ukraine war may slow our economic growth a little due to the negative impact on confidence, it's unlikely to drive Australia into a recession locally – so why should property values fall? Strongest lift in the economy since 1976 The Australian economy (as measured by gross domestic product or GDP) grew by 3.4 percent in the December quarter – the strongest gain since March quarter 1976. The strong growth followed a 1.9 percent contraction in the September quarter, reflecting lockdowns. The economy is up 4.2 percent on the year. The biggest contribution to the expansion of the economy was household spending (+3.2 percentage points), followed by inventories (+0.9pp). A raft of sectors each reduced growth by 0.1pp, including dwellings, commercial construction, private equipment, public investment, net exports, and ownership transfer costs. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of eBooks and reports at www.PodcastBonus.com.au Shownotes plus more here: Will the Ukraine crisis really cause property values to collapse, with Dr Andrew Wilson Some of our favourite quotes from the show: "At the moment, though, our economy is doing really well. We've had the strongest lift in our economy since 1976." – Michael Yardney "In fact, the quality of your property will make a big, big difference, and be the most important factor in the long-term returns and success of your investment." – Michael Yardney "Learning how to tolerate feeling lonely and finding ways to keep yourself company could help you get over fear of loneliness." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

With two months of data under our belt, the picture for property market is becoming clearer. Last year, property values increased almost everywhere, often by double digits. However, that's not how our property markets typically work or what you should expect of them this year. Moving forward, you can expect the Australian property market to be segmented, which is normal for Australia. And you'll see some segments that outperform the others strongly, some that have more moderate performance, some segments where values stagnate, and some segments where price values fall. That, as well as interest rates, is what you're going to hear in today's chat with Dr. Andrew Wilson. We discuss: When is the Reserve Bank going to raise interest rates? How high are interest rates going to go this cycle? What does the latest wages data tell us and what does that mean for interest rates? Wages Rise – But Still Well Below RBA Target Many commentators and economists brought forward their forecasts for the timing of the first RBA cash rate hike. Some were pointing to the possibility of rate hikes as soon as June this year. However, the latest wages data and a likely surge in workers indicate that reaching the RBA's benchmark of consistent wages growth above 3% per annum won't occur until next year. In fact, "real" annual wages (the difference between wages and inflation) fell by 0.3% over the year to the December quarter This is the first fall since March 2015 and second only to the record 0.5% fall recorded over September 2008 during the depths of the GFC. We're not there yet – we haven't reached a point where an interest rate hike makes sense. What's happening in our property markets? Our capital city housing markets have continued to report strong results The auction markets have commenced the season with higher clearance rates overall compared to the final months of 2021. Last year property values increased in almost every location around Australia – and that's very unusual. However, moving forward, the various property markets will be very segmented, which is a more "normal" property market. Despite strong buyer and seller activity, and strong auction clearance rates clearly still indicating a seller's market, property price growth over the month of February produced mixed results. Andrew Wilson's My Housing Market showed strong growth in asking prices for properties in Brisbane and Adelaide while house price growth in Sydney and Melbourne has moderated over February. While wages around Australia are much the same, the median house price in Sydney is double that of Brisbane and considerably more than the Melbourne a similar house would cost in Melbourne. Affordability is now constraining further price growth in more expensive capitals of Sydney and Melbourne as lending capacity has been maximized. The smaller capitals – particularly Brisbane and Adelaide continue to provide buyers with affordability advantages Housing market demand will continue to be supported by the imminent reintroduction of mass migration and rising confidence in a post-covid recovering economy and reinforced by a clear underlying shortage of housing. Investor activity will also continue to support housing markets, with surging rents enhancing yields and supporting total returns. The level of price growth will be determined by interest rates and income growth going forward which are likely to remain steady for the foreseeable future. The consolidation of affordability in housing markets over time in a normalized economic environment with low interest rates and steady income growth will result in flatter house price outcomes and a more predictable and sustainable housing market. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Dr. Andrew Wilson, Chief Economist My Housing Market Subscribe to our weekly Property Insiders videos – www.PropertyInsiders.info Get your bundle of free eBooks and reports – www.PodcastBonus.com.au Shownotes plus more here: Where is the property market heading? With Dr. Andrew Wilson Some of our favorite quotes from the show: "Even though wages have gone up a bit, most people recognize that it costs them more to live than their wages have gone up." Michael Yardney "It was a record month with lots of auctions in February, creating some records in the number of sales." Michael Yardney "What you have right now is enough to start." Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

I was reading a blog written by my good friend Tom Corley the other day and it was about success, and it made me think about success, what it means and how you achieve it. Now, if you're a regular listener to my podcast, you know we mainly talk about property, but if you think about it, property is just the vehicle you're using to achieve your own success - be it financial success or wealth or prosperity. The only person that can answer the question "what does success mean" is you. While I'm neither able nor willing to prescribe the ultimate definition of success, as this is not possible, I do want to spend a little bit of time talking about it on this podcast with Mark Creedon so that by the end of today show you'll figure out what's important to you and you'll have some key steps to help you achieve success in life property, business, your personal life or whatever. How Do You Know You've Achieved Success? Success can't be summed up in one sentence and there are different forms of success and that's what I'd like to chat about today with Mark Creedon, founder and CEO of Business Accelerator mastermind. I believe it is very important that one knows how to define success in life so you can be happy. As I was thinking about what we'd chat about I realized there are a number of different types of success. And I came to the conclusion you can focus on one type or you could pursue multiple types. Financial Success When you have enough wealth to meet your needs and your wants, that's financial success. Family Success When your kids know their parents love them, they will run through a brick wall for their parents. They'll do their homework, try to get good grades, take out the garbage, help out around the house, etc. That's family success. Health Success Exercising every day, eating healthy, moderating your consumption of alcohol and junk food, all lead to being healthy. When you are healthy, that's health success. Career Success Liking or loving what you do for a living, while earning the money you need to meet your needs/wants, fuels you to do your best at work. Doing your best and feeling fulfilled at whatever it is you do for a living is career success. Social Circle Success Everyone has an inner circle. When those people in your inner circle – family, friends and work colleagues are people you love, like, or care deeply about, that's social success. Mental Success When your mind is clear, calm, optimistic, upbeat, and not consumed with stress, that's mental success. Fulfillment Success Short-term happiness is anything you do that creates instant gratification. This type of happiness goes away quickly. Fulfillment, however, is long-term happiness. Fulfillment Success means feeling fulfilled in most aspects of your life: financial, family, health, career, social circle, and mental. This is the most likely the success everyone seeks. So let's talk a bit more about Success As we've said there are many different definitions of success. And not all of these will resonate with everyone, but chances are at least a few of them will. Success is always doing your best. Success can be achieved when you try your best in all aspects of everything you do, even if that doesn't lead to big results. Success is setting concrete goals. Be realistic and concrete when setting goals. Success does not come from setting abstract goals. If you know where you're heading, that is a success in itself. Success is having a place to call home. Home is where your heart soars. You are always successful when you can call a place home. Home doesn't have to be a specific structure. It can be a country, a city, or even a person. Success is understanding the difference between need and want. If you can meet your monthly obligations and fulfill your basic needs, you are successful. Success is believing you can. If you believe you can, you will succeed. Success is remembering to balance work with passion. Work without passion creates undue stress and empty achievements. Focus on what excites you. If you're happy at your job, that's great. However, even if you aren't, you can balance your formal job with hobbies or volunteer work you're passionate about. Success is taking care of your needs. Remember to put on your own oxygen mask before assisting others. Self-care is essential if you want to have any meaningful impact on the world around you. Success is learning that you sometimes have to say no. Success only comes with a balanced life. Part of balance is learning to say no. Success is knowing your life is filled with abundance. Love, health, friends, family…life is filled with abundance. Recognizing this is an important step to feeling grateful for all life has given you. If you can feel this, you are already experiencing success. Success is understanding you cannot keep what you don't give away. You will only succeed if you help others succeed. Learning to give instead of always take is part of creating a world we all want to live in. Success is

Another week, another fresh take on where the housing market is going. In the past month, all our major banks have changed their outlook for house prices and are now predicting the biggest housing crash in decades. Economists at Commonwealth Bank and National Australia Bank are forecasting house prices to fall by 10% next year and Westpac forecast house price falls of 7% in 2023 and a further 5% in 2024. Of course, these forecasts are predicated on the assumption that the Reserve Bank will begin raising interest rates later this year and housing will be "collateral damage in the RBA's efforts to keep inflation on target in the medium term. I thought I'd spend today discussing my thoughts with you – just you and me - no special guest on this show and I'll give you even more reasons why I can't see your property market crash ahead. That way, at the end of the show, you'll have more clarity and certainty about the housing market's future. Should You Be Worried? The major banks are predicting higher rates as soon as the middle of this year. They are also predicting property values to drop significantly in 2023. Will this really happen? We know the Reserve Bank is being patient and may not raise rates as quickly as many expected. In that case, ramifications for the housing market are unlikely to be as dramatic as those you're reading about in the media. Of course, the banks have already raised fixed term interest rates over the last few months, and there's little doubt that we're past the peak of house price growth. At the same time, buyers have more choices as vendors are placing their properties on the market for sale. So back to the original question: What does all this mean for house prices moving forward? Before I give you the answer to that, let's just work through what's likely to influence our property markets and the drivers that will affect house prices over the next year. Mortgage rates will rise independently of the RBA. They've already started rising. Mortgage rates will remain low by historical standards Despite the rises, the rates are still going to be low when compared to the past. Households are sitting on an unusual amount of savings. Household wealth has surged, along with the value of assets. Low stock availability and the strength of buyer interest will underpin the property markets. Investors, equity gains, and transaction volumes The RBA is waiting for wages to grow further. By the time the RBA raises the rates, wage rises, and a strengthened economy should be in place. Currently, Reserve Bank interest rates are low to bolster the economy and stimulate inflation and wages growth. Once the Reserve Bank believes inflation is comfortably and consistently within its desired band of 2 -3% and unemployment is low enough to cause significant wages growth, then the RBA will slowly raise its interest rates from stimulatory levels to neutral levels. Why home prices won't crash While falling interest rates create extra borrowing capacity and therefore increase housing affordability, rising interest rates do not necessarily cause house prices to fall. While some commentators are concerned rising rates will cause mortgage defaults, there are several reasons why this is unlikely to occur: In general, Australian households are wealthier than ever and have more equity in their homes because of our property boom. Banks' stringent lending criteria have only ensured they have only been lending to borrowers who could withstand a 2 or 3% rise in interest rates. Many Aussie households have taken advantage of the current low interest rate environment and are three or four months ahead in their mortgage payments. Our economy is bounding along, unemployment levels are low, and with the prospect of wages rises ahead, most households should not feel mortgage stress. So, the bottom line is you don't have to lose any sleep – the housing market won't crash, and the value of your home won't plummet. However, property price growth will slow moving forward, as always happens in cyclical markets. Links and Resources: Michael Yardney Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us. Get a heap of eBooks and reports here: - www.PodcastBonus.com.au Shownotes plus more here: A property price collapse is coming – how scared should you be Some of our favourite quotes from the show: "New borrowers haven't necessarily seen their money shrink." – Michael Yardney "Interest rates aren't going to go up to the level that will cause property values to slump, but yet, mortgage rates from the banks will go up." – Michael Yardney "Reading's essential in creativity, in innovation, and for learning from the outcomes of history. It's an opportunity to open your imagination to other possibilities." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave

Success doesn't just happen. It's planned for. You must be intentional about it and that takes discipline What plans do you have for your future? For your investments, your career, your business, your life? It's much easier to plan than just hoping for things to happen. You see planning is helping to bring the future into your present so that you can make some things happen right now. In my chat today with leading financial advisor Stuart Weymss, we talk about how he sets his goals, and plans for the future; and considering that he's very successful in many elements of his life I think it's worth hearing what he has to say. We also share lots of useful information about investing, so at the end of today's show, you'll have better direction about how to make 2022 a great year for your investments and business. 2022 Plans and Predictions I read an interesting quote recently- "The tragedy of life doesn't lie in not reaching your goal. The tragedy lies in having no goals to reach." Much has been written about goal setting and there are lots of podcasts about that, so today I won't bore you with another podcast about how to set goals, but I want to chat with somebody who set himself some audacious goals and has managed to achieve them, in order to help you make 2022 a great year. Recently leading independent financial advisor Stuart Wemyss wrote a great blog on his predictions for 2022 and how he plans to take advantage of the year, so I thought it was worth having a chat with him to see what he believes 2022 might bring us in investment opportunities. Do you set yourself goals? Last year's property boom was part of the design for Australia's recovery from Covid – low interest rates and various incentives were aimed at creating the wealth effect: encouraging people to spend while other incentives encouraged first homeowners to get into the market – it will be a very different year this year. However, I see 2022 as the year many investors try to catch up, realizing that they missed out on the great profits of last year. The problem is they will get it wrong because this year won't be the same as 2021. It means there will be more property casualties this year. What risks and opportunities do you see ahead in 2022? Tightening of lending / APRA interfering Rising interest rates – RBA unlikely to hike but banks may. Inflation become endemic – unlikely at present Another nasty strain of Covid Supply chains not freeing up as quickly as many think they will Rising interest rates in the US Politicians interfering with the housing market to win votes Geopolitical risks Have you used the risks and opportunities that the market could offer us this year to help you set your own business and financial goals? What goal-setting process do you use? Of course, you can minimize mistakes by putting together a well-formulated investment strategy and action plan based on your clearly defined financial goals and, most importantly, the reality of your situation. Planning is key with everything really and investment is no different. You wouldn't build a house without a set of plans or drive to a destination without first thinking about the best route to get you there. The same applies to investing Common mistakes that trap the unwary1. Following the wrong financial plan Blindly turning your investments over to a "professional" to do your investing for you Focusing on the "investment" and forgetting about you the investor Focusing on "saving" versus investing Falling victim to the prevailing investment myths Not treating your investments as a business Links and Resources: Michael Yardney Stuart Wemyss – Prosolution Private Clients Stuart's Book – Rules of the Lending Game & Investopoly Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Shownotes plus more here: Why we're excited for 2022 – plans and predictions with Stuart Wemyss Some of our favourite quotes from the show: "Having goals and just looking at them works subconsciously, doesn't it? It's a GPS, it finds what you're looking for." – Michael Yardney "I think it's worth setting some audacious goals to take advantage of what – if you do the right thing – could be another good year." – Michael Yardney "By developing a simplified way of thinking, of communicating, of performing, you're going to break through that ceiling." – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how