Property Podcast
Property Podcast
Feb 3, 2021
Learn How to Reach Financial Freedom in 3 Easy Steps With Salena Kulkarni
Play • 33 min
In this episode of Property Investory we will learn how she managed to replace her income with aggressive and non-traditional investment tactics, seeing returns of 18–24%. You’ll also have the opportunity to hear some of her most valued tips and tricks, which are sure to make you successful!

Timestamps:

Resources and Links:

Transcript:

Salena Kulkarni:
(30:19): When you know that there's going to be money coming in whether you get out of bed or not, whether the market craps itself, obviously the last year has been a very scary time for a lot of people. But if you knew that even if the wheels came off the economy, even if it wasn't business as usual tomorrow and you still had money coming in and you didn't have to eat the cow, I just think that's such a freeing place to be. 

**INTRO MUSIC**

Tyrone Shum: 
This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies.

I’m Tyrone Shum and in this episode, we’re continuing our discussion with property investing advisor and best selling author, Salena Kulkarni. With a passion for finding alternative strategies to invest and with two decades of experience helping others achieve financial freedom, Kulkarni shares some of her tips, tricks and alarming stories!

**END INTRO MUSIC**

**START BACKGROUND MUSIC**

Tyrone Shum: 
Kulkarni had a moment of clarity after completing a development in Melbourne that saw her and her husband making a $500,000 profit, in a very short space of time.

Salena Kulkarni:  
(00:40): You might look at that on the surface and go, 'Wow, what a great win', but it was actually a really painful experience. The builder went bankrupt, just prior to completion which meant that I was flying down to Melbourne every week to try and push it along. It was a great outcome overall, but moreso, it taught me a lot about the importance of defining what success looks like, as an investor. 

(01:07): I made the decision from that moment onwards, that I wasn't going to expose myself to that level of risk again. Since then, I've done a lot of small scale developments but with a significantly lower risk. You would understand that even within investing, there's such a spectrum of investments that require virtually no effort through to those where you're super active. 

(01:37): I think the aha moment that came to me was in 2009. We had a really good portfolio at that point [and] it was a mix of commercial and residential property. I started to really use my accounting skills to project at what point we were going to be financially free. We had a high net worth and we'd already been investing for nearly a decade at that point. When I did the numbers, I realised that in order for us to replace our living expenses and have that freedom to step off, it was [going to be] be another 25 years. 

(02:14): That's when I went, 'Oh, god. This whole fixation with net worth being the ultimate metric can't be right'. Around that same time we had just bought a commercial property here in Canberra and the banks had basically turned around to us and said, 'Look, no more. We're not going to give you any more money right now'. I had a choice at that point, to kind of hit a wall and then go, 'Well, we've done pretty well, let's just sit on what we've got and wait that 25 years', or ask the question, 'What else?' 

(02:54): I think one of the skills that really good investors have is that capacity to be tenacious, to be determined and to ask the question, 'What else?' The aha was recognising that property is a long game. Yes, you can make chunk deals and I get that, but driving up my net worth wasn't going to get me any closer to my dreams around financial freedom. So I started to explore other opportunities, other markets, other ways of doing things. That's how I stumbled into the alternate space and that was the sliding door moment in terms of a new game for me.

Stuck in the rat Race

Tyrone Shum:  
Although one would think that it’s a high net worth that enables you to reach financial freedom, Kulkarni has other ideas about what a high net worth can really mean for the rest of your future.

Salena Kulkarni:  
(04:00): I think it's all well and good to say you've got millions of dollars of net worth, but you have to work. I've worked with so many people who have staggering net worth, way more than me and they are in so much financial pain. They have to keep hustling, they have to keep working to support their lifestyle. Or, eat the cow, meaning sell down assets to get off the ferris wheel. 

(04:27): So one thing that I would say I've really embraced is the idea that yes, you have to do the hard yards and you have to use traditional investments to build up your capital base. Property for me is definitely the best vehicle to do that, so there's no avoiding that. But I think what happens is people hang their hat on this idea that they have to [reach] a certain net worth to have it be game over for them. What I’m experiencing and what I'm doing right now is showing people, you don't actually need as much of a net worth as you think.

(05:09): Part one of the game is to build a capital base. Part two of the game, as far as I'm concerned, is how you take that capital and start to turn the dial and put a tiny percentage of your portfolio into alternate to ramp up the cash flow, so that instead of waiting 20–30 years to replace that income, you can do it in a really short space of time, like 3–5 years. 

(05:35):  
Once you've done that, part three of the game is how do you turn all of that income into annuities and a family bank and all of those things that people give lip service to around legacy? But how do you make that really concrete and real? 

Tyrone Shum:  
(05:51): Wow, I love that three step process. It's so simple and clear and I think a lot of people can easily follow that. That's why I think a lot of people follow what you've been doing. What I'm just curious about, is what you said in part two, which is to actually turn them into alternate sources to be able to generate more cash flow. How do you go about doing that? What kind of sources are we talking about?

Expand Your Cash Flow Through Alternate Strategies

Salena Kulkarni:  
(06:18): Back in 2009 when I hit that wall, I just started looking at what else was out there. I think the thing that probably had the [biggest] impact in my world, was looking for people who had the results that I wanted. I searched the globe, I didn't restrict myself to Australia and New Zealand. I thought, 'What are people doing in other parts of the world?' I found mentors and people in other markets and I got a chance to look over their shoulder and just see what they were doing. 

(06:56): [I would say that] following the models that somebody else has already created, is definitely better than trying to do it yourself. I started to hear about opportunities, even here in Australia you hear about opportunities that don't come onto the market, that are off market, that are out of the reach of most people who are trawling the net looking for opportunities. 

(07:24): I looked at the European and the US markets, but what I liked about the US market, particularly at that time from a mechanics point of view, [was] that [it was] very similar to what we have here. The strategies exist in Australia as they do over there and I think the Australian market is fantastic for building up capital. It's awesome. In fact, there's not many markets in the world that match it. 

(07:58): But, for cash flow it's terrible. I mean, the typical cash flow, for properties held without any debt – so no encumbrances at all, is between 1–2.5%. If you own a million-dollar property, I [personally] think that's a pretty terrible return.

Tyrone Shum:  
(08:17): It's crap.

Salena Kulkarni:  
(08:18): Yeah. So by putting small amounts of money into some of these alternate strategies, where I could all day long, get 8–15% net returns, you can start to see that you don't need to put a whole lot of money into it in order to [multiply] your cash flow [by five]. That's why that market is so exciting [at this] point [in time]. The reason it works is because our market is all about capital, because it [has] become very efficient. 

(08:48): There are so many people who are interested in property and you have to fight for deals here. So even though you would still say it's not as efficient as the share market, if you look at it on a global level, Australia has a very efficient property market. In the States, it's a very different matter. There's this space of real estate investing in the market, which is incredibly inefficient and because of that, it means that there are all these unconventional opportunities, which are just not available to the masses. It's really the playground of the ultra wealthy.

Commercial Properties

Tyrone Shum:  
(09:23):  Wow, it's fascinating to hear that and I think that's the reason why people have looked at alternative places, even for myself in the last couple of years or so. Capital growth has increased so much and it has become so expensive to purchase property, especially in Sydney and Melbourne. One place that they've talked about is moving into commercial space.

(09:41):  Commercial has been a very, very big area that a lot of people talked about last year. It's probably slowed down a little bit due to covid unfortunately, you will have experienced that because you've got commercial properties in your portfolio as well. From there it's like, 'What next?' You could look at commercial [properties] and get great returns, but you still have [to] put a lot of capital in there. [Also], the banks only provide certain LVR's and you can [still] get capped out from there. 

(10:07): I know I personally looked over in the states and when I was looking at some of the deals, even [just] hearing [about it] from a few people, I could pick up properties for $50,000–$60,000, even up to $100,000 recently. That would still include close to about a 15–20% return. I'm like, 'Wow, why am I not doing that?'

Salena Kulkarni:  
(10:25): I agree with everything you're saying and what I would add is that a lot of my clients have commercial property. Yes, it has been the flavour of the month for the last couple of years and I do like commercial property, but it's a game of snakes and ladders as well. Higher returns, but often associated higher risks and most of the people that I work with who own commercial property, at best, after they service their loans, they're making 3–4%. 

(10:56): So we're still talking, a marginally better step up, but still not epic money. The deals that you're talking about in the States, which is buying property, is only one out of the eight strategies that I've started to focus on. So when I started over there, I thought that was what everybody meant by US real estate, that you just buy properties. But managing property from afar, tenants and toilets and all of that stuff, is a big headache. I got so many cuts and bruises along the way. 

(11:31): What I believe now, out of all the strategies in the alternate space, is that owning direct property is my least favourite out of all of them. What's really exciting for me about the alternate opportunity in the states is that you can put small amounts of money into each deal. You can put as little as $5,000–$100,000, depending on the opportunity. 

(11:56): You can do true diversification, you can diversify geographically, from a liquidity point, from an exit point of view. There's so many different layers to it. In Australia we talk about diversification and what it really means is, 'Well I bought a house in New South Wales, so let me go and buy one in Victoria now'. In the alternate space, because the dollars per deal are so small, it's really about diversification across strategy and all those other things that I talked about.

(12:25): So the idea of owning houses is great, but it's [at the] bottom of my pile now, in terms of the strategies. I want to control the deals, I don't necessarily want to own and be responsible for the tenants and maintenance and all that rubbish.

Controlling, not Owning

Tyrone Shum:  
With a focus for alternate routes in property investing and the wisdom to know where you can mitigate risk, Kulkarni focuses on a number of strategies which each have variations within.

Salena Kulkarni:  
(13:02): There's the traditional one that you're talking about, which is just buying property. You go to a bank, you get leverage and you purchase or you just  purchase in cash. There's probably four buckets of strategies which include direct ownership, lending deals where you become the bank, joint venture deals, meaning you partner with someone and you get paid a rate of interest. 

(13:35): So it's a hybrid between a lending deal and a direct ownership deal and you get a share of the profit at the end of the development. Then the fourth bucket is syndications, where a group of you go in on one specific project. I'll add a fifth bucket, which is the main bucket that most of my guys like, which is the small private funds. This involves a bunch of people, but the fund manager has the capacity to get involved in multiple projects at the same time, could be business loans, multi unit complexes, all sorts of things.

Tyrone Shum:  
(14:17): In those cases, especially for example, going to a syndication or fund manager, in Australia there are obviously slightly different rules and regulations surrounding those.  How does that work overseas?

Salena Kulkarni:  
(14:31): From which sense?

Tyrone Shum:  
(14:33): I guess in terms of regulation, like with funds here, they're quite highly regulated and you have to go through quite a lot of paperwork.

Salena Kulkarni:  
(14:43): Yeah, well I'm not setting up the funds. So it's not me that runs the funds and I don't get paid based on anything anyone invests in. So one of the attributes that I really think is important that you develop as an investor, is being very agnostic. Meaning that you remain unbiased by everybody else's opinion and what the market is saying and really being able to understand and look at deals on their own merits. 

(15:10): So [you’re quite right], the funds over there are extremely well regulated. But a lot of these small private funds, they operate in a space that is too small for the big hedge funds. They're also way too big for your average mum and dad investor. They're very nimble, they can take on big deals, small deals and each fund has their own flavour of what they do. 

(15:42): This comes back to your network. One thing that I prize is my network and a lot of the guys that I work with that run these funds, they won't work with you if you're just some unknown off the street. They're a very insular, private network and when they say, 'Look, there's a deal here', they'll fund it really quickly, they don't need anybody's money. So they're not the sort of people that will go out looking to the public to raise money. It's a very private network. 

(16:13): The interesting thing is because we are described as aliens, a lot of those opportunities are like, if you were a local, they'd say, 'Are you a sophisticated investor? Have you got a net worth over this?' But because we're foreign, they don't care.

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Tyrone Shum:
Coming up after the break, we hear more about the returns that Kulkarni sees and why that shouldn’t discourage you.

Salena Kulkarni:
(17:25): I know it sounds like they must be super risky but in all seriousness, when you unpack the deals you will understand how the strategies work and you [will] also understand that these deals don't need a rising market or care whether there's economic turbulence. 

Tyrone Shum:
We’ll also hear about what Kulkarni has been up to in the last 15 years since exiting the corporate world.

Salena Kulkarni:
(22:03): For the last six or seven years, prior to starting the Freedom Warrior program, I was helping people find things in Australia and pointing them in the right direction. I'm not a buyer's agent, I just used to hand them on to people who were buyer's agents.

Tyrone Shum:
What formula she uses to calculate expected net worth and how effectively you are creating wealth...

Salena Kulkarni:
(26:45): There's a formula that I kind of put my own spin on that I pulled out of that, which is, if you take your average household age and multiply it by your average gross household income and divide by 10, that should give you your expected net worth. 

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

**END ADVERTISEMENT**

Opening Yourself up to More Returns

Tyrone Shum:  
The returns that Kulkarni sees would be much higher than average, as she takes a slightly more aggressive approach to investing. 

Salena Kulkarni:  
(16:51): Typically, on the more traditional stuff, you can get 8–15% net returns. On some of the joint ventures and other lending opportunities, by the time you factor in your profit share, you can get returns of 18–24% because of that market inefficiency.

(17:25): I know it sounds like they must be super risky but in all seriousness, when you unpack the deals you will understand how the strategies work and you [will] also understand that these deals don't need a rising market or care whether there's economic turbulence. When you contrast that to the uncertainty in our market right now, you start to see that the relative risk is actually lower than what we experience in the Australian market.

Tyrone Shum:  
(17:52): Yeah, I would have to agree with you because I'm already involved in those types of markets here. People [always] ask me how I'm able to get between 15–30% returns on these deals that I'm working on right now. They're secured and there's a lot of possibilities, there's just more to it. People just don't believe it. I can understand, because we've all been conditioned to believe that in this market, you expect maybe 3% return at most in Sydney markets.

(18:21): Up in Brisbane, you might be able to get a 7% net yield, and you go, 'Okay', that's what everyone expects. It's just [about] changing the mindset and then really understanding and unpacking the deal. I think that's where you've kind of gone further because it's a matter of opportunity costs. If you're going to invest your money and put it in something for the next 10 years, potentially in those 10 years, you could have actually compounded say a 15% return, instead of a 7% return. 

(18:49): At the end of day, which is going to perform better? Well, I think the obvious answer would be the second one because it compounds at a greater rate. So it's really just about changing your mindset and working with different people to understand that. Once they understand that, it actually does work really, really well. Is that what you've kind of experienced as well from your side of things?

Not Relying on the Markets

Salena Kulkarni:  
(19:08): It's such a great point you raise and I'm all for healthy scepticism. My training has made me a very conservative person and yet, people are so suspicious and sceptical about these opportunities. What's it called when someone trolls you? I've had people definitely troll me and say, 'Oh, this has got to be a scam', but I have zero involvement in the investments that the people around me make.

(19:45): My role is to support and give them access, but I don't get paid and I don't have any involvement. I love Australian property and it is awesome, as I said, for building capital. But I got tired of relying on a rising market to make money and it's hard work finding good deals in our market. 

(20:06): So right now, my plan A is building cash flow through these alternate strategies, which by the way all exist here in Australia, they're just not plentiful. But finding consistent deals is not as easy as it sounds and my worldview is that the world is full of undervalued opportunities and that's all I'm doing. I'm tapping into those, there's no smoke and mirrors, they exist, it's just that they're not mainstream.

Tyrone Shum:  
Kulkarni exited the corporate world 15 years ago, after working as a chartered accountant and being employed by a number of publicly listed multinational companies around the world. 

Salena Kulkarni:  
(21:09): I don't even know if I'm employable to be frank. I say that to my husband, like if I ever had to go back to a job, I don't think anyone would give me a job [since I’ve been out of the game for so long].

Replacing Your job with Investment Returns

Tyrone Shum:  
This big change was brought on by Kulkarni’s decision to not only be home to raise her children, but also to focus on the property side of things when they started to provide the best returns.

Salena Kulkarni:  
(21:30): I've done lots of things [in the 15 years since leaving my job], I was an avid share trader, I've tried lots of things. It was never the case that I set out to start a business in this, I just started to have people ask me, 'Well, how did you do that? Could you help me with this?' It just sort of evolved from there. 

(22:03): For the last six or seven years, prior to starting the Freedom Warrior program, I was helping people find things in Australia and pointing them in the right direction. I'm not a buyer's agent, I just used to hand them on to people who were buyer's agents. I think of myself as a strategist because I have that problem solving ability, but it's really only in the last two years that I went, 'I don't actually want to work that hard'. 

(22:34): I want to work with fewer betters. I want to work with people who get the concept of what I'm saying, which is that you don't have to wait till you're 65 to retire. You can get there in the next 18 months, two years if you do the right things and you embrace some of this alternate stuff. So my attitude is, 'I'm driving this bus and I'm going in this direction, if you want to join me on that journey, jump on the bus'. That's kind of where I'm at.

Tyrone Shum:  
(23:09): Fantastic. That's what it sounds like, [that] you're genuinely there to help people from the heart and you've got a strong reason behind that because you've achieved it for yourself. You've built a portfolio, you haven't had to work for the last 15 years. There's already proof there that you're genuinely here to help. I know a lot of successful property investors who are in the market doing exactly the same thing and they're really, really passionate and wanting to be part of that. 

(23:36): Once you've reached that point, where you've got enough success it's about whether or not you just want to continue to enjoy your life, or you go out and leave a legacy and help others. I can see that's where you're going down at this point in time. So it's great.

Salena Kulkarni:  
(23:48): Yeah, I think I help on two ends of the spectrum. I help business owners who are wanting to build that exit ramp from their business and they're worried about whether or not they'll sell or not. Then at the other end, I love working with teenagers. So I've done a lot of work in the teenage market, just helping them understand the basics of stewardship, investing, looking after money and understanding that you can be the driver of your own financial success. It doesn't matter what you earn and I never had a high income I should add, ever.

Spend Less Than You Earn and Invest!

Tyrone Shum:  
Even after spending a small fortune on every property course and book that was out there at the time, Kulkarni still says the single biggest driver of her success was the mentors and masterminds that she engaged with.

Salena Kulkarni: 
(25:24): There's probably been a number of people along the way, but they weren't famous. They're not like celebrities or anything like that, they're just regular Joe's who happen to have a great capacity to create wealth. It's effortless for them and there's no charge around it, they're not stressed about it and they're not money hungry. I think alignment on the values front is really important. So I'm actually relatively frugal, so I found that a lot of the people that I took on as mentors were also relatively frugal. 

(26:03): The purpose of money is not necessarily the fancy homes and the big houses and all of that. It's really that capacity to influence that matters the most. So mentors, many and varied, from the wealth space. I've also had a long love affair with all things yogic. I've had some phenomenal mentors in getting your headspace right.

Tyrone Shum: 
By putting her own spin on some teachings from a classic property investing book, Kulkarni is able to remember the basics, whilst also tweaking it to best suit her own style of investing.

Salena Kulkarni:  
(26:45): It's a very old style book, but it's one that you've probably read, which is the Millionaire Next Door. It's old, it's like 25 years old or something like that. But I think the principles in that book still stand true today and there's some great things in there. There's a formula that I kind of put my own spin on that I pulled out of that, which is, if you take your average household age and multiply it by your average gross household income and divide by 10, that should give you your expected net worth. 

(27:30): Now, because of the way that the property market and affordability has changed, I have actually changed the formula a little bit and I say, your average household age multiplied by your gross income, divided by five, that's my take on that. But that should give you your expected net worth. Now, if you're above or below that, that gives you a barometer as to how effectively you are creating wealth. So I love that book. I just think it's got lots of great concepts and is just a reminder that there's no magic formula, it's just, spend less than you earn and invest.

Having a Confident Mindset

Tyrone Shum:  
She admits to feelings of the imposter syndrome plaguing her from time to time, but finally feels – as a whole – comfortable in her own shoes.

Salena Kulkarni:  
(28:19): I think the biggest part of the journey for me has been the head game. Getting your head in the right space and being clear about what matters. I think I've wasted a lot of time going down a lot of rabbit holes because I wasn't sure and I didn't back myself. It's a little bit like the experience of seeing things on Facebook and Instagram. It just looks like everybody else has the perfect world and the perfect life and it's probably as I've gotten crankier and older that I say, I just have to back myself a bit more. 

Tyrone Shum: 
So what plans has she got for the future?

Salena Kulkarni:  
(29:28): Lots of things. Well, one thing that's kind of on the radar in terms of goals for the next 10 years is a move to somewhere coastal. My husband and I both love places like Newcastle and he's a real beach goer. So something like that is one thing that I'm excited about. But if we're talking [about] wealth and property, I love the idea that I've got a plan A, B, and C. 

(29:55): Plan A is to continue to build cash flow through these alternate strategies. I'm not over exposing myself at all, I've still got a great portfolio of assets here in Australia, which is my plan B. Then my plan C is obviously all the traditional things that I don't really believe in, but super and all that stuff. 

(30:19): I can't even tell you. When you know that there's going to be money coming in whether you get out of bed or not, whether the market craps itself and obviously, the last year has been a very scary time for a lot of people. But if you knew that even if the wheels came off the economy, even if it wasn't business as usual tomorrow and you still had money coming in and you didn't have to eat the cow, I just think that's such a freeing place to be. I just wish that for everyone. 

(30:53): I feel really sad, I spoke to a guy earlier this week who was 70, such a sweet guy. He's been running a business all his life, is barely making ends meet and is now at the point where even at age 70, he knows he can't step off. I have real empathy for people who feel that they've got a higher purpose, but just can't work out how to access that.

Opportunity Meets Preparation

Tyrone Shum: 
(31:18): So, the last question I've got for you is, out of all your successes, you've built a great portfolio, you found alternative ways to do things and you've helped so many people around the world in Australia. How much of that success is due to intelligence, skill and hard work? How much of that is due to luck?

Salena Kulkarni:  
(32:18): I genuinely believe I'm a very lucky person. I have massive gratitude for the journey that I've been on and the people that I've met. But I think there's that definition, which I'll probably get wrong but, where opportunity meets preparation, the intersection of those two things is really the dictator of the results that you get. So I would say it's probably where those two circles meet.

**OUTRO**

Tyrone Shum:
Thank you to Salena Kulkarni, our guest on this episode of Property Investory.
The Progressive Property Podcast
The Progressive Property Podcast
Kevin McDonnell
The 10 Worst Tenants I've Ever Had
McDonnell Mondays are back! After a brief hiatus you host Kevin is back with his much loved series McDonnell Mondays where he gives you the chance to ask him all things property. In today's episode Kevin discusses why not to listen to those advising to steer clear of London investments, why the ‘tenant buyer’ strategy is the most hands free of them all and how to sort the good builders from the bad.    KEY TAKEAWAYS    Over the last few months, people have started the question if it is wise to invest in London, given the way of the world. That is because the masses are questioning London. Observe the masses, and do the opposite. Interest rates are going to drop to negative, so there has probably never been a better time in history to raise money to help invest in properties.    Many people would consider single lets the most ‘hands free’ strategy. However with single lets you often have the management, the maintenance, the voids and the inspections. With a tenant buyer, it is completely hands free strategy. You don’t need a letting agent or a maintenance team and you can do it remotely as it is completely outsourced to the tenant buyer.    If you're setting up a limited company, you should be putting  a personal loan into that company. When running a limited company you need to ensure you get a property tax accountant . Everything from mobile phones to office supplies can be put through the company as company property rather than putting it through your own name.    If you ring a builder up and he says he can come tomorrow, they’re likely a bad builder. The good builders are always busy. The moment you get a property agreed, you need to find a builder. You will get the keys anywhere between 4-8 weeks after the agreement, leaving it until then to find a good builder will cost you.    You need two years of company accounts in order to qualify for mortgages in your company name. You can start by doing rent to rent and lease options in order to build up your accounts.    Many people want to quit their jobs to become property investors. The reality is, you do not need to quit your job.Managing your time is a better step than quitting your job. You have got plenty  of time to do property in your spare time, if you are smarter with your free time.  Aim to quit your job later but first you should build up cash flow and passive income.    If you are just starting out and do not have the funds or knowledge to invest in property yet, it is a good idea to go and work for an investor and offer to work for free. Find the big player in your area and ask how you can help them. They will give you some work to do and you will learn from their expertise.    BEST MOMENTS “Raising money has never been easier” “You don’t find it difficult to raise money, you find it difficult to try, you find it difficult to ask.” “Quitting your job is not the route to success.” “If you give, you will receive.” VALUABLE RESOURCES https://www.progressiveproperty.co.uk  https://kevinmcdonnell.co.uk    ABOUT THE HOST   Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.      CONTACT METHOD   https://www.facebook.com/kevinMcDonnellProperty/   https://kevinmcdonnell.co.uk/ See omnystudio.com/listener for privacy information.
16 min
The Michael Yardney Podcast | Property Investment, Success & Money
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Michael Yardney; Australia's authority in wealth creation through property
Learn These Rich Habits of Successful People | Rich Habits, Poor Habits Podcast, Part 1 with Tom Corley
Have you ever wondered how certain people become so rich and successful? Well, if you’ve been listening to my podcast or reading my blogs and my books, you’d know that rich people don’t become rich by luck or by accident. Becoming rich requires hard work, dedication, and a certain set of habits. We are what we repeatedly do. That means excellence isn’t an act, it’s a habit. My friend Tom Corley spent five years studying millionaires and gathering insights that become the basis of his blogs and books, including the book we co-authored: Rich Habits, Poor Habits. He found that people who became wealthy practiced certain habits, and that’s what we’re going to discuss today. Since there are so many habits, we’re going to break this into a two-part series, and today we’re going to start with the first group of habits that the rich do that differentiate them from the average person. Rich Habits Of course, not all rich people are successful, and not all successful people are rich; but remember I was much younger and more naïve then and wanted it all. So I tried to understand why some people were rich while others kept struggling financially. Over the years I attended many seminars, paid mentors, and read as many books as I could on the topic of success. I modelled successful people and eventually grew successful myself. It wasn’t easy, I’ve had my challenges in life (mostly self-inflicted) and I’ve hit rock-bottom, but I got up again, learned from my mistakes, and moved forward. And over the years I’ve mentored more than 3,000 successful (and some not so successful) investors, business people, and entrepreneurs. In fact, a by-product of this is our top-selling book – Rich habits Poor Habits In it, Tom Corley and I explain… Being rich has little to do with the money itself Instead, it has a lot to do with how you think about money. So if you want to become rich, one of the first steps is to know how the wealthy think about money differently than you do and to start thinking like them. The next step is to take action and to let the action become natural by thinking the way wealthy people think. We’ve found rich people share similar habits. While we explain this in some detail in our book, today I’d like to briefly share… The first of the 21 Success Habits of The Rich …. * The average person thinks about spending their money, while the rich think about how to invest their money. * The average person worries about running out of money while the rich think about how to use their money to make more money. * Most people believe hard work makes you rich, while the rich know that leverage creates wealth. * Successful people don’t procrastinate. They don’t spend their life waiting for the ‘right time’ or waiting until they know it all or have figured everything out. * The average person believes having a job gives them security. The rich know there’s no such thing as “job security.” * Most people want to be rich. The rich are committed to being rich. (They are very different things.) * When things go wrong, the rich find a lesson, while others only see a problem. * The average Australian sets their financial expectation low, so they’re never disappointed. On the other hand, the rich set their financial expectations high so they’re always excited. * Successful people take calculated risks – financial, emotional, professional, psychological. But once they’ve built their wealth, they take fewer risks. * The rich consciously and methodically create their own success, while others hope success will find them. * The rich look for and find opportunities where others see obstacles. * The average person believes life happens to them. They are a passenger, while the Rich believe that they create their own destiny. They are the pilot of their lives. Successful people align themselves with like-minded people. They understand the importance of being part of a team. They create win-win relationships. Links and Resources: Tom Corley - Rich Habits Michael Yardney - Metropole Get your own copy of our international bestseller Rich Habits Poor Habits 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: Learn These Rich Habits of Successful People | Rich Habits, Poor Habits Podcast, Part 1 with Tom Corley Some of our favourite quotes from the show: “As you’ll learn, it’s not your fault if you’re born poor. But it is your fault if you die poor.” – Michael Yardney “It depends what your focus is as to what you see.” – Michael Yardney “2020 taught us the importance of that. How many people who had multiple income streams – such as you, such as me – still had a really good year, while those who were dependent on one income stream, unfortunately, found that dried up.” – 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.
33 min
The Money Podcast
The Money Podcast
Rob Moore
How to Staff Up Fast, With Low Risk/Cost
So many entrepreneurs become daunted when they think of hiring staff and the expense that comes with it. Join Rob today as he explains how you can staff up quickly, with very little expenditure so you don’t have to do all the work yourself! Discover how referrals from friends, family and existing team members can help keep your costs low, how to ensure your staff can make you double (or triple!) their salary and how to manage their income generating tasks well. KEY TAKEAWAYS   Referrals from existing team members, friends or family are brilliant for finding staff at a low cost as there is an element of trust. You can acquire and hire a staff member for free if there are no recruitment fees.   Staff members are always working 30 days in arrears. If you manage them well on the income generating tasks. You can get them to earn their salary before actually paying their salary. As long as you can get them to make more than what they cost you, then ‘gross’ you have got them for free.   Whilst the initial cost of hiring staff may seem daunting, remember the salary you pay them over the next year is split into twelve instalments. As long as they are managed well, targeted well, have good minimum standards of performance and have a clear vision for their role they should be able to earn double or triple their salary.   Incentivise your ‘non income generating’ staff to save you and your business money by offering them a percentage of the money they save. Have them go through the expenses regularly and the savings they make could end up paying their salary.   Make sure you have always got a percentage of your staff that are income generating. Generally as the company grows, the percentage of income generating staff is lower because you will hire admin staff to manage all the work you have coming in.   Track your KPI’s, this is your percentage of staff that are revenue generating. It is wise to also track revenue per staff member too. If your revenue per staff member gets near or below their salary, you are making no money. If your revenue is 2-10 times their salary, then you are making a large profit.   BEST MOMENTS “You are going to have a breakthrough, threshold year.” “I like staff members to generate between two and three times their salary.” “When you save £1 you save the whole £1. When you make £1, you probably only make 15p in that £1.” “When I write a job description I make it really inspiring.”   VALUABLE RESOURCES https://robmoore.com/ bit.ly/Robsupporter   ABOUT THE HOST Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”   “If you don't risk anything, you risk everything”   CONTACT METHOD Rob’s official website: https://robmoore.com/ Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs LinkedIn: https://uk.linkedin.com/in/robmoore1979   See omnystudio.com/listener for privacy information.
40 min
Comedian v Economist
Comedian v Economist
Equity Mates Media
Boomtown! 10 Reasons the economy is going to boom.
Thomas lays out 10 reasons why he (and pretty much every economist in the country right now!) thinks the Australian economy is set to boom. Adam is alarmed to learn that there’s perma-bears in these woods. What’s their trip? *** If you've got a question for Thomas... or Adam... then go ahead and send them to cve@equitymates.com Any views expressed by the podcast host or any guest are their own and do not represent the views of Equity Mates Media or any other employer or associated organisation. Always remember, all information contained in this podcast is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. The hosts of Equity Mates are not financial professionals and are not aware of your personal financial circumstances. Before making any financial decisions you should read the Produce Disclosure Statement (PDS) and, if necessary, consult a licensed financial professional. For more information head to our Disclaimer Page, where you can find resources to search for a registered financial professional near you. *** Have you just started your investing journey? Head over to Get Started Investing – Equity Mates 12-part series with all the fundamentals you need to feel confident to start your investing journey. Want more Equity Mates? Subscribe to Equity Mates Investing Podcast, social media channels, Thought Starters mailing list and more here.
36 min
SugarMamma's Financial Foreplay
SugarMamma's Financial Foreplay
Canna Campbell SugarMammaTV
Kristen was hit by a car & left on the road. But this blow inspired a more meaningful wealthier life
I love the debt free community on Instagram. Always so informative, inspiring and supportive. One day I came across a powerful image on the account @ProjectFrugal of a young women in a neck-brace, with blood on her head. The text said "This Day Changed My money Mindset"...She looked like she was smiling though...even though as we find out she wasn't - she was just trying to see her cracked teeth. I reached out to her and we spoke over email, with her sending me a voice note. As I listened to her story, I knew that I needed to share this with you. Not only does Kristen share her incredible story and attitude to life but she is also full of so many brilliant money saving hacks, ideas and inspiration. She has also had an impact on me personally to go deeper with our financial goals as a family. I think you will love listening to this podcast and please, definitely check out Kristen's account @ProjectFrugal - this will definitely be a great resource for you for your own financial journey. @SugarMammaTV for all your immediate access to my content @CannaCampbellOffical for minimalism, motherhood, capsule wardrobe fashion and beauty xCC General Advice Disclaimer The information on the SASS Financial website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Before acting on any information, you should consider the appropriateness of it and the relevant product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant Product Disclosure Statement or other offer document prior to acquiring any financial product. Canna Campbell is a Corporate Authorised Representative and Corporate Credit Representative of Wealthstream Financial Group Pty Ltd ABN 35 152 803 113 Australian Financial Services Licensee AFSL 412079.
39 min
Any Other Business
Any Other Business
Rob Bence and Rob Dix from Property Hub
The tech we use to run a multi-million pound business
Have you ever wondered what tech is behind a multi-million pound business? Getting the tech right can be a game-changer but there are SO many options out there, where do you even begin? Thankfully, Rob & Rob have tried almost every bit of tech out there and they’re sharing it all.  You’ll hear about the tech they used when it was just them in their bedrooms to today with a team of around 50, the mistakes they made and how they knew when it was time to make the important switches. If you’re a bit of a technophobe or are simply overwhelmed by the amount of choice out there, this episode was made for you. You’ll find out: What tech Rob & Rob used starting up versus now. The mistakes they made when implementing new tech. What tech is perfect for when you’re starting out. The different types of tech you might need. How to decide when it’s time to upgrade your tech. The importance of good tech in business. How and why tech is one of their biggest costs. Tune in now! And if you’re looking for the tech they mentioned throughout, you can find the full list below: Google Workspace Mailchimp SendFox Capsule Hubspot Salesforce Slack Microsoft Teams Trello Monday Helpscout Zendesk Sage Xero Make sure you’ve liked and subscribed to our YouTube channel - and don’t forget to hit the notification bell to be the first to find out when new episodes drop.  You can also find out more about us here and here. And if you’d like to follow the journey of our businesses, you can do that here: Instagram: http://instagram.com/propertyhubuk  Twitter: https://twitter.com/propertyhubuk  Facebook: https://www.facebook.com/propertyhubuk/  Linkedin: https://www.linkedin.com/company/propertyhubuk  See omnystudio.com/listener for privacy information.
35 min
Property Developer Podcast
Property Developer Podcast
Justin Gehde
78 – Property development lessons to grow your property business
Decades of experience have taught Rod Fehring a thing or two about property development, and he shares some of the lessons learned along the way about how to create a successful property development business. In this episode we explore those lessons, the standout projects and the future of Australian residential property. Project update - Project 1 - framing well underway, couple more sales, 75% sold - Project 2 - assessing build quotes, readying to make a decision on who to appoint, about to launch marketing campaign Training Reminder If you are interested in discovering how ready you might to become a property developer, then head over to www.propertydevelopertraining.com and check out the quick self assessment tool. We also have the mentoring program that is available to help guide you through your first project, so email justin@propertydeveloperpodcast.com if you would like further information. Social links If you would like to see how my projects are progressing, I do post regular video updates on the show’s Facebook and Instagram feeds, along with other news and tidbits and they are both under the handle of Property Developer Podcast, so be sure to check them out. Property Developer Podcast Facebook - https://www.facebook.com/propertydeveloperpodcast Property Developer Podcast Instagram - https://www.instagram.com/property_developer_podcast/ Property Developer Podcast LinkedIn - https://www.linkedin.com/company/property-developer-podcast Today's Guest is Rod Fehring In episode #76 [https://propertydeveloperpodcast.com/2020/12/03/76-becoming-the-head-of-a-billion-dollar-property-developer/] we covered Rod's career, how he went from humble public servant to head of one of Australia's largest public property development companies, Frasers Property before he retired in 2020. In the follow up conversation, we cover memorable projects, lessons learned, social housing, future of Australia housing markets Links Frasers Property Australia – https://www.frasersproperty.com.au
1 hr 37 min
The Inside Property Investing Podcast | Interviewing Inspiring & Successful Property and Real Estate Investors
The Inside Property Investing Podcast | Interviewing Inspiring & Successful Property and Real Estate Investors
Mike Stenhouse: Property Investor
337: Rosie and Allan Charles on breaking property rules, replacing income and the power of single-lets
Rosie and Allan Charles of Arch Investments – I'll be totally honest, I've spent the past two years thinking of them as Ark investments every time I see them on social media, thinking it was some abbreviation for architecture. But, of course, after asking the question I now know that it stands for Allan & Rosie Charles – but at least now you'll remember to look for them next time you're on Instagram. Anyway, getting back to what this phenomenal couple has achieved in a few short years… They started investing by breaking all the rules – sourcing deals hours away from home and focussing on the humble single let instead of being distracted by shiny objects and new-fangled strategies. It's clearly worked for them, replacing Rosie's income and allowing her to step into property full time whilst Allan focuses on the strategy for the business and making sure that all of his toys were constantly being tossed from his pram. You'll hear more in today's interview about how they've built a successful portfolio through consistent efforts and constantly putting themselves in challenging situations that they were forced to find solutions to, as well as the numbers behind their best and worst deals, how they split the responsibility of their business, and why investing in education gave them the accountability they needed to succeed. ********* Subscribe to our YouTube Channel - https://www.youtube.com/insidepropertyinvesting Follow us on Instagram - https://www.instagram.com/insidepropertyinvesting/ Access our free resources - https://www.insidepropertyinvesting.com/resources/
1 hr 5 min
my millennial property
my millennial property
SYMO interactive
306 setting your long term property goals
Setting your long term goals with property puts all of your decisions into context and on a timeline. In this episode Emily and John chat about how you can determine your goals, measure and manage them, and keep everything in your planning in perspective. The chat touches on: 👉🏻what you're aiming for and why you're heading towards that 👉🏾setting up milestones to see progress to keep you encouraged 👉a little about Emily and John's property goals and how they're breaking those into manageable steps to achieve them 👉🏽the metrics that can help you measure your steps towards your long term property goals Here's the book Emily mentions in the chat: booktopia.kh4ffx.net/MXnE7N Check out The Glen James Spending Plan at the link below - use coupon code "m3p" to get this for under $50... save $20 Take a look at John’s Solvere Online Academy and Emily’s online course (The Buying Coach) at the link below. For podcast resources, links to our stuff, disclaimers & warnings about this episode + more... check out: https://www.sortyourmoneyout.com/m3pshownotes 🛑 This podcast is for education and entertainment purposes. It is not intended as a substitute for professional financial, tax or legal advice. Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement and obtain appropriate financial advice tailored to your needs. We may discuss products, services and answer listener questions on this video for entertainment & illustration purposes only. We may change the name of the questioner for anonymity. It is impossible to give you personal advice on an entertainment podcast as we do not know the details of your personal financial situation. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies that may be communicated in this podcast. SYMO interactive Pty Ltd, the publisher of the podcast, is an authorised representative of MoneySherpa Pty Ltd which holds financial services licence 451289. Please read our Financial Services Guide located at sortyourmoneyout.com. This podcast is intended for residents of Australia. We acknowledge the darkinjung people, Traditional Custodians of the land on which our studio sits, and pay respects to their Elders past and present. We extend that respect to Aboriginal and Torres Strait Islander peoples who may listen to our podcast.
23 min
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