Property Podcast
Property Podcast
Nov 10, 2020
How to Master Your Fear and Become Your Best Self with Scott Kuru.
Play • 33 min
In this episode we continue speaking with Scott about his biggest motivations for success, the hurdles he has faced along the way, and how he has overcome the fear which stopped him from investing for so long. 

Timestamps:


Resources and Links:
  • Anthony (Tony) Robbins - YouTube
  • John Lindeman - Books

Transcript:

Scott Kuru:
(19:05) Property investing is going to bring in a lot of emotions that are going to come to play, and I feel that if you can master your emotions, you're gonna make wiser better decisions, and then you actually can transform yourself into an action taker.

**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 continue our conversation with Property Investor and Entrepreneur Scott Kuru, who has a property portfolio of almost 20 properties, and has founded three major successful companies in Australia. Kuru has achieved his own financial freedom and is now committed to helping you find yours. 

**End Intro music**

**Start background music**

Tyrone Shum:
Scott Kuru has a property portfolio of close to 20 properties, and he has faced his fair share of challenges to go along with them. 

Scott Kuru:
(0:21) I think the biggest challenge was when I had one particular property or really wanted this property. It was a great property. And I was maxing out on my borrowing capacity. I had like a lot of banks telling me, ‘No, you can't get financed for this’. So really, the tough thing for me was, I committed to the property. Even though I was being told I wouldn't get financed for it. So I put the deposit down, I just went screw this, like, I'm gonna somehow make this happen. I put the deposit down. And, you know, then settlement was coming around. And I had to talk to my tax guy, I had to balance things out on the tax side, or the balance things out on the income side. And then when it came close to settlement, I literally had to run around so many different places, to be able to settle on this property. And ultimately, I had to pay like a ridiculously high interest rate, I had to go to some lender that was going to give me 2 [or] 3% higher interest rate than what I could get in the market, but it meant that I could get the property. 

(1:28) So that was really, really, really tough because I was going through all the different lenders, and they're asking for documents and proof of this and proof of that. And you know, all of these requests for information and all this kind of stuff. So that was like a huge amount of stress. Because I had a date that I had to settle. If I didn't settle on that date, I was gonna start getting penalty interest. So we're talking, you know, a couple of thousand dollars I think it was from me, it was a couple of thousand dollars every week, but I didn't settle on this property. So that was probably the most stressful one. I ended up settling on it on a really high interest rate, waited six months, paid the higher interest rate within six months, and then I was able to refinance down, like onto a proper competitive loan. So that was probably, I guess, the toughest one for me. The properties that I've wanted, that I didn't want to miss out on. You know, I had another opportunity. I typically don't like apartments. But, you know, I had a deal that I came across where this apartment was discounted by 80 grand, basically, some overseas Chinese investors had put down a 20% deposit on it, and had literally disappeared.

(2:42) The developer, you know, just through the different contacts that I've got in the industry, and this is what we do for our members. But the developer basically had tried so many different ways and gotten legal advice. You know, we've emailed, called, we've done everything. This buyer has literally disappeared. And then they had some different things and needs for the money that they had. So they just said, ‘Look, we just need a buyer to come in, we need to sell it fast’. And the market at that time, because this is an apartment in Brisbane. And you might even remember Tyrone you know, if you go back, say what was this now three or four years? You go back three or four years, there was a so-called oversupply in Brisbane. The vacancy rate on those apartments now is down below 2%. Vacancy rate was about 8%. 

(3:28) So there was an oversupply of apartments. These builders, developers could not sell them, no one was buying them. And he had this Chinese buyer that had bought one and disappeared. There was 20% in the deal. So I said, ‘I'll buy it for your price, less 20%’. So yeah, it was an $80,000 discount, but again, I had problems. I didn't have much liquidity at that time. So what do I mean by liquidity? I didn't have a lot of cash laying around at that time. Because you know,  I had gone on a shopping spree of property. So people have to understand my mindset. Like I went to the reverse, I was very scared on my first one and then I went crazy. 

Tyrone Shum:
(4:10) Like crazy talking about what you bought.

Scott Kuru:
(4:14) If I had anything more than $5000 or $6000 in my account, I would put it into property. So I built my property portfolio. Sometimes my bank account would go down to $2000, $3000, $4000, $5000, and when I did that apartment deal, when I did it, I had left in my name about $5000, right? I didn't have our multi multi million dollar business. 2000, I didn't have that then. So I was taking a big risk, but I wanted the deals because I knew that I did these deals, the cash flow came in and it would repay me so I just took all the liquidity I had out. I put it in to secure it, I hadn't got the finance secured, or had to sign a contract that fully locked me in to be able to do it quickly, because so many other people wanted to come in and jump in on this deal.

(5:15) And they didn't want it without the 20%. But once it was 20% everyone wanted it, you know, the brother-in-law of the developer wanted it. So I did that, I took that risk. I went out, I did eventually figure out the finance. So probably my biggest challenge has been in growing my portfolio. My portfolio has been getting the loans and getting the debt, because I would have loved to have grown faster, I would have loved to have grown bigger. But my cap was always how much I could borrow. So I would love right now to get a loan for a trillion dollars. Like I'd love to get a loan. Sometimes I run into people and they go, ‘Oh, isn't that a big loan? That's scary’. I'm like, ‘I would love a loan for a trillion dollars’.

Tyrone Shum:
(6:01) You can imagine how many properties you could get for a trillion dollars!

Scott Kuru:
(6:10) And then I had another one where it was actually a very similar deal. I was overseas at the time I did the deal. And the problem was that I couldn't complete the deal, because I needed to sign this contract in the presence of a lawyer or something like that. And they wouldn't accept an overseas lawyer. So I was going to miss out on the deal. I literally cancelled the holiday, I was gone, and flew back to get this deal. So that's how hungry I have been. If you want to know how anyone that's gone from, you know, two, three properties to like, 10, or more than that... That's the type of hunger you have to have. 

Tyrone Shum:
(7:03) Dedication and persistence.

Scott Kuru:
(7:04) ‘I'm on holiday, man. I'm gonna miss out on this deal? No way. Over this dumb holiday!’ You know, and I'd called about eight, nine different solicitors and lawyers. ‘How do I do this deal? I've spoken to the bank, I was trying to get their paperwork change, they had this really stupid rule’. And yeah, I couldn't do the deal unless I flew back. So I flew back. And it was done. And I did it.

Tyrone Shum:
Kuru has had some hairy moments in the past. But what about the good stuff? I asked him what he remembers as his ‘aha’ moment. 

Scott Kuru:
(7:55) I think the aha moment was when I took the massive action, like when I did my first few properties, and the big aha moment for me, because my big worry was, ‘I've got all this debt. So who's gonna pay it?’ And then when I got my first property, and I had the rent come in, and I got the rental statement for the first property, I'm looking at it and I went, ‘Hey, wow, that's real money’. And then you know, you log into the bank account, you see your wallet, there's money there, so I went, ‘Hold on, this actually works’. So that was like a big aha moment for me. And then the other big aha moment was when I did my first tax return. I did my first tax return, and I'm sitting down, I'm learning about things like appreciation and all this in the world. You know, I'm sitting there.

(8:37) And then I get my first tax return. And I go, ‘Damn, that's a big chunk of money back’. So those are two big things. And then when I started getting revaluations on property, and then I'm revaluing that one, or that's increased, you know, three months or went up by $30,000. I went, ‘Wow’. And then, you know, a year later, that's gone up. ‘$80,000? Oh, wow. This is great.’ So I think when the theory became real, it started. And I was like, ‘Damn, this works’. That's why I'm like cancelling overseas. I'm running around begging banks, ‘Please give me a loan’.

Tyrone Shum:
(9:27) You did whatever it took to be able to get those deals. And now, you know, obviously where they are now has actually helped you build that portfolio because it's compounded time. You know, 10 years is quite a good solid amount of time. That's at least one close to property cycles, actually, when you think about it. So you've seen so many great gains from it.

Scott Kuru:
(9:45) Yeah, yeah. Time is really important. So yeah, the time goes really, really quick. You'd be surprised how even now though, some of these experiences, I'm just being reminded of them now. And if you think back the things that you did, you're grateful that you took action, you know,

Tyrone Shum:
(10:04) Yeah, clearly. So you've built a portfolio up to say 20 properties. What's been sort of the mix of the properties, the purchases? Then maybe let's talk about your strategy. It sounds like when you first purchased those properties, it was like a buy and hold, and then you pull equity out and you leapfrog into the next one. And you keep doing that. What's been your overall strategy since then, because to build it up to close to 20 properties, it's not just something you just go and buy and hold, and you do it over the next 10 years or something like that easily. You have to actually have some kind of specific plan to be able to achieve that.

Scott Kuru:
(10:34) Yeah, well, my strategy is just to get, number one, undervalued location, and then get an undervalued property, because a lot of people talk about how to fast track your gains. They talk about manufacturing equity. So what that means is you get a property, you make some adds to it, some changes to it, you add a granny flat, or you add a second story or you renovate or something like that, you revalue it, and then the price becomes higher. Now, I didn't have the time to do that. I didn't have the expertise to do that, that took more cash. And I'd run all the numbers on it. And I said, ‘Alright, if I get one property and put more money in it and make some changes, and maybe possibly, possibly maybe get a higher revalue on it’.

(11:18) And I put all that time into it, which I didn't even have, so I couldn't even do it. I thought, ‘I don't really like that’. But when I looked at the strategy of getting an undervalued suburb, an undervalued property in an undervalued suburb, then that suburb, if you look at the trend line and growth, what I'd also found through Lianna’s research is that most of the growth for a suburb, 70% of the growth for a suburb came in 30% of the time. So she'd run all these numbers. And she'd worked out based on a number of really complicated factors, how you could pick an area that would have that long term growth trend, but the bulk of that growth would be within the first one, two or three years of me owning that property. 

(12:08) So what we were trying to do was to position a property in an undervalued suburb and an undervalued property in an area that we felt was going to have more immediate growth, not growth out into the future. So we did that. And so that's still our base strategy today. And then I was able to create equity that way, not through the manufacturing, I'm not talking hundreds and hundreds of thousands of dollars, but I'm talking, you know, maybe you can make a $30,000 equity there, get a tax refund of $9000 there, another $12,000 of savings. Alright, there's the deposit for property number two, so if you can keep repeating that, you can move.

(12:48) Now, when you get your first one or two or three properties, it's pretty slow. But when you've got say, three or four or five properties, and they're kind of growing like the equity or the growth across the four [or] five, the tax deductions across the four [or] five, so it becomes exponential. So you know, one becomes two, very slow, two becomes three, quite slow, but three can become five a bit faster, and five can become nine, a little bit faster. So that was my base strategy. The other strategy for me was to always keep the cash flow positive. So as much as possible, I mean, sometimes there were deals, but if we can do deals, when you look at the property, and you go, that's not cash flow positive, with the asking price today, but if we can get that ask asking price lower, then we can turn a non cash flow positive property into a cash flow positive property, not through a renovation not through anything like that, but through using my mouth.

Tyrone Shum:
Kuru puts it into perspective using some basic numbers. 

Scott Kuru:
(13:47) So, you know, we use a bit of data to find where are the areas where we can sort of strike a deal like that, and then just, you know, use the mouth, like a half hour conversation to do the deal. Not 10 weekends of slavery, doing the renovation. So that's pretty much been my strategy. Now, this will not turn you into a multi millionaire in the next five years. But a strategy like this, if you're looking at market averages and things like that, probably an average income earner could, if you get at least, you know, a market growth rate of say, 7–7.5%, if you're able to create equity along the way, then you may be able to create something like one and a half million, two million, two and a half million over like at least a 10 year period. If you wanted to create more than that you need to give it more years. So if you want 3 million, 4 million, 5 million, well, you probably need a 15 year investment window or you've got to have a higher or above average salary or income so that you can borrow more and put more assets into your portfolio earlier on. 

(15:01) But typically what I see, because right now I'm seeing like over 200 people every single month join our community. Me and Lianna are right in there, we help them out with their strategies. And yet, typically, you know, I think a great outcome would be one and a half million to two million over a 10 year and over a 10 year investment window, minimum. And I would say to anyone that thinks that doing better than that through any strategy, renovating, doing whatever, anyone who thinks they can go from like a normal income, and a normal amount of savings I’m talking $50,000 to $100,000, anyone who thinks that they can do probably better than that.

(15:46) As an investor, you really can't. Now there's another way to be in property. The other way to be in property is to have property as a business. So like, I would say, someone that's buying property, renovating it and selling it, that's a business. Or I would say someone that's doing developments, many developments or larger developments, medium sized developments, that's a business. So it is possible to make more money than what I've just said, as a business. But if you're what I call an ordinary investor, and so I'm talking about someone on ordinary income, ordinary employee, ordinary savings, then, you know, target something like a couple of million dollars in 10 to 15 years. And if you can actually achieve that, that is massive, because if you set up your chief 2 million in 10 years, well, that could be 4 million, 6 million in 20 or 25 years. And if you're getting started in this journey at around 40, then by 60, you can be a multi-millionaire, if you're getting started at 40, in whatever time by 50. That's possible. And if you're getting started at 30 or lower, then you could be a multi-millionaire by you know, 40 [or] 50.

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Tyrone Shum: 
Coming up next, we discuss the mindset which enabled Kuru to expand his portfolio.

Scott Kuru:
(17:45) So the discount you're getting on the way in is not the big thing, the big thing is going to be how does that property perform.

Tyrone Shum:
He shares the advice he would give to his younger self.

Scott Kuru:
(23:31) Ten years ago I was stressed out, I was worried, I was fearful, I was anxious. I was worried about the future. 

Tyrone Shum:
he reveals the details of his strategy and which kind of investor it’s designed for. 

Scott Kuru:
(20:43) Now there are many strategies in property. And you know, all of them do work to varying levels, but you have to find the right strategy for you. 

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

**END ADVERTISEMENT**

Tyrone Shum:
Welcome back. Kuru suggests a realistic plan for those he would call ‘ordinary earners’. 

Scott Kuru:
(17:06) As an investor, as an ordinary earner, ordinary savings as an investor, typically trying to aim for more than 2 million in less than a 10 year window. Very hard to do. You have to be very, very fortunate, even with all of the negotiating discounts, because if you think about it, you’ve got a half a million dollar property, you negotiate a $25,000 discount in the whole big scheme of things. But when people really learn this math, in the whole big scheme of things, that's nothing. That doesn't get you any further. So I would rather get a $500,000 property with no discount, and get an 8 or 9% growth on it, than get a $500,000 property with a $25,000 discount with a 5% growth on it.

(17:45) So the discount you're getting on the way in is not the big thing, the big thing is going to be, how does that property perform? And typically it's going to perform based on the location that it's in, and then the quality of the property of the location, but I hope your audience can understand... Because what'll happen is, if you've got an unrealistic expectation, or if you're desperate, you've made yourself desperate through your mindset, you're in this desperate mindset. If you're later on in life and you're desperate, what will happen is, you'll go to these events and you'll get stitched up. Because you’re desperate. 

Tyrone Shum:
(18:24) And you make poor decisions based on some of those things due to emotion rather than facts and figures. I've got a few more things I wanted to just touch on as well. You mentioned mentors, Lianna has obviously been extremely extremely important and crucial to support you. Have you sought any other mentors? Or did you have any mentors you could share along the way? And what's been the impact on your whole journey?

Scott Kuru:
(18:48) Yeah, I think a real big mentor for me has been Tony Robbins and if you don't know Tony Robbins he's not particularly a property person but he's definitely like a mindset person. Some of this helps you to stay positive you know, because you know like property investing is going to bring in a lot of emotions that are going to come to play and I feel that if you can master your emotions you're gonna make wiser better decisions and then you actually can transform yourself into an action taker. So I really look up to Tony. I've done a lot of his programmes and courses. I watch him a lot on YouTube. And I'm really inspired. I'm really inspired by Tony. And then you know, Lianna has been like a really good dear friend. I mean, she's got a unique skill with the data and I mean, that's a real tangible thing. And then just as a friend for someone to give you, you know, reassurance. Sometimes you need that so, you know, definitely you know, those have been the two big people that have really helped transform my life in terms of my property.

Tyrone Shum:
(20:00) Also to talk about, I guess, resources along the way. You've said you've pretty much attended all those courses, you've learnt so much. At this point in time, do you have anything that you think you could share with the audience? Which is a fantastic resource that you have actually thought of, that, you know, has impacted you and has been able to help you along your journey?

Scott Kuru:
(20:18) Yeah, well, what I've done, like, together with Lianna, we thought, ‘Look, what can we do?’ Because we don't sell courses and things like that. But obviously, people want some information, some education. So we put together a really powerful live event. So we run this event, you know, a couple of times during the month, and it's a two hour live event. And what we actually do is we step people through our exact strategy. Now there are many strategies in property. And you know, all of them do work to varying levels, but you have to find the right strategy for you. So on to our live event, we actually break down step by step, our exact strategy, what we do. And again, our strategy is more for a time poor, ordinary investor, that's aiming, you know, to reach financial freedom, like in a realistic window. But not maybe get it… Definitely get it. In a 10 year, 12 year window. So that's a really powerful experience. Yeah, if you can make it along to that.

Tyrone Shum:
Kuru shares the most influential book he’s read, and suggests all of you read it too.

Scott Kuru:
(21:34) I think a really good book that really helped me, I read this book years and years and years ago, there's a guy named John Lindeman, and he's written some really good books about the property market. And it gives you a really good historical perspective on what the market has done, what some of the key drivers are of the market. So he'll give you a really good base fundamental. So I just say that is really good mandatory reading, for anyone that wants to invest. So John, I think now he's got two or three books out. So I'm talking about his original and first one, I would absolutely, definitely read that. It's mandatory reading for anyone that comes and joins us as staff here at Freedom Property Investors. I go, ‘Well, I actually got copies of it, you know, take this book’. So absolutely read that. But anything, anything from John is really good.

Tyrone Shum:
(22:20) Yeah, I've had John on the podcast, he has been amazing. And the knowledge and, you know, the research he does is just phenomenal. He's very, very meticulous, and also very factual as well, which, you know, allows him to be able to make the right decision. So he's done really, really well. That's great. And also, what do you think's been the best advice you've received?

Scott Kuru:
(22:39) Oh, wow, jeez, that's that's a tough one. That's a really, really tough one. Best advice that I have received? Well, probably Lianna, look, if I can be honest, like Lianna basically bullied me to get my foot in the door. She was like, ‘You are a moron if you don't buy this property’. I'm like, ‘Really?’ So I think it was her bullying me to do my first one. Because if I hadn't done that first one, I wouldn't be where I am today. So you know, those first few steps are the most fearful or the most gut wrenching, but you know, they're the best ones. They're the best ones. So I'll hand that one to Lianna.

Tyrone Shum:
So what advice would Kuru give to himself, if he could go back 10 years? 

Scott Kuru:
(23:28) Well, you know, 10 years ago I was stressed out, I was worried, I was fearful, I was anxious. I was worried about the future. I would have said, ‘Scott, look, enjoy everything that you've got now. Be grateful for what you have and really enjoy it. It's gonna be okay and you're doing great. You're doing really really great ,everything's gonna be okay. Enjoy your kids, enjoy the ages that they are, even enjoy your job that you hate so much, even find things there to enjoy’. I would say like literally enjoy it because I was so worried about the future and time and succeeding and getting more money that I put a lot of energy into that worry and it just took some of the shine out of life, I really enjoyed all those times but you know, it just took some of the shine off it because of this worry.

(24:17) And I would also say to have more courage, take more action, just take more action, because I was so... Not making a mistake was more important to me than having success, if that makes sense. So I would rather, at that point, I would rather not achieve much but not make a mistake, than make a mistake, but have success. So I really changed my target subconsciously. I didn't realise this was going on. Subconsciously I moved from waking up every day saying, ‘Scott, don't make a mistake, don't make a mistake, don't make a mistake’, I moved from that to ‘Scott, get what you want, get what you want, have success, move forward, take action’. So it's that shift in the mindset that I, you know, encouraged myself or coached myself to do. 

Tyrone Shum:
(25:17) Wow that's, that's amazing. I resonate with that, because I think about the fear that holds us back, it's usually fear. And you just don't know what's up ahead. But it's when you start taking that action, then that fear starts to subside, it sounds like that's what happened over that period of time, it just with all that action, you know, it just kind of alleviated all of it. And there's not much to worry about, as you said there. So that's a really, really good response. Let's take a step forward, you know, looking at five years, what do you think you're most excited about in this next five year journey that you've got here?

Scott Kuru:
(25:50) I've achieved my financial freedom. I'm gonna keep investing, obviously, I love to do that. But it's transformed for me now, because I've reached that point where I am free, I do feel safe achieving those things. And I feel like I've won the respect of, you know, my family, my children, and they're safe. So, you know, my life now is more about building a legacy for my family. And it's more about, you know, building a legacy for all of the members and all that kind of thing. So what I really, really love now is like, every time I go online, and I don't know how this sounds to people, but sometimes I'll go online, and I'll type in Freedom Property Investors, and I'll go to Google reviews, and I'll just read them.

(26:30) And I really love reading them. Yeah, there's some bad ones in there, that's fine. But you know, there's so many great ones there. And, you know, every single day, there's new ones going in, and I just love reading them. And, you know, I had to try and find some purpose for my life, because the purpose of my life was to make my family safe. So like, that was the ultimate guiding mission programmed into my head and I achieved that, and I kind of thought, well, what's my life going to be about now? Now my life is about helping other people, other providers, you know, other people with families that might be struggling, it's about trying to help them. 

(27:07) And then it's also about all the other great people that work in the group of ‘Freedom’ companies as well, you know, helping them to grow and expand. And so that's where I get a lot of my joy and fulfilment now, it’s just helping people to grow, helping people to expand, whether it's expanding professionally if they work with us, or whether it's them, you know, growing and expanding their property, their wealth, their futures, because like you and I will know, 80% of people are going to wind up on a pension. And even if these people get one property, and not even a very good one, but hold it for 20 years, they’ll probably avoid that. And if they can get two or three, in a really great location, they can have a really, really good life in their later years.

(27:56) We're all gonna live much longer, we're all gonna live probably until 85 (or) 90. So we need 30 (or) 40 years of, you know, the government, will the government have money to support us? We don't know. Because I don't have a full time job as such, you know, I mean, I spend a lot of time out during the day. And that's when you see a lot of the older people that are in retirement, they come out, you see them around, and you see them scratching around for $1, just to buy a coffee from Donut King. They're struggling. There's a royal commission right now into aged care, because it's that bad, people are dying in aged care, people are mistreated and abused in aged care. So you don't want to be 60, 70 or 80, laying in some bed with some person, vulnerable. 

(28:40) So, you know, I have a special heart for young children and older people. And I just think it's because they're vulnerable. And I think that we should take care of them. But I think the responsibility is on people right now, like to just have a little bit of foresight, 30 (or) 40 years down the road, start preparing for that. And when I look around how to prepare for that,  I'm still 100%—property is 100% the way. That’s why your listeners are in the right place, you're doing a great job, thank you, you're promoting it, you're putting it out there, I love your content, your audience, your audience love you and the value they get. So the more people out there, you know, promoting the positive side of property is really, really great. 

Tyrone Shum:
(29:23) I appreciate that. Yeah. And that has always been my value. And I'm just as passionate as you because I want to be able to help as many people as well. And this podcast is able to impact and do that as well. And you know, it doesn't cost you anything to listen and learn from people like yourself, you know, all the successes. It's definitely out there and possible too. So the last question I have for you, Scott, I always ask this question to all my guests. How much of your success is due to your hard work intelligence and skill? Or how much of it is based on luck?

Scott Kuru:
(29:58) I would say 100% it would be just down to me. So, you know, I feel whatever the answer is, I think that you should decide that the answer is, 100% of your life is up to you, and live your life that way. I mean, that's something I learned from my mentor Tony Robbins, like, take 100% full responsibility for everything in your life, and take 100% responsibility for everyone else in your life and every event in your life. So, you know, I was very fortunate, because, you know, when I began my journey, it was right before the 2012 [or] 2013 massive property boom. So that absolutely gave me a really great opportunity to grow through equity, and to be able to get the number of properties that I was getting.

(30:47) So like, that was a great opportunity that was there. But if I hadn't done all the work or anything like that, well, then I wouldn't have been positioned for that. And people are sitting right now, as we record this, people are sitting right now, in the middle of another boom. So we're predicting a very strong price growth boom, over the next two to three years, and we predict the next 10 years will be really, really great for Australian property. So people have another opportunity. So, you know, the people that invest now, is it down to them? Or is it down to luck? I would say it would be down to them.

**OUTRO**

Tyrone Shum:
Thank you to Scott Kuru, our guest on this episode of Property Investory. 

If you want to hear more about his journey and get a copy of this episode guide on the website head over to PropertyInvestory.com/guide

This guide will give you the inside scoop on the little gold nuggets of wisdom all our guest's share from their backstory and all their overall strategies and philosophies. Plus, you’ll get a copy of their advice broken down and shared in a quick and easy-to-consume format!

Just head over to PropertyInvestory.com/guide and download it today.

Thanks for listening!
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Philip Muscatello
SFB & Equity Mates - Mixed Martial Podcasting
It was seriously good fun meeting the Equity Mates. This is a special simulcast episodes released jointly on each other's channels. If you're here because you heard the then check out some of my back catalogue here - https://pod.link/1451778025. Otherwise it felt good to share our investing "moments". I hope you enjoy. "The Australian stock market is 2% of the global market. For every great Australian company, I can name an even better international equivalent. When Bryce and I started investing, international shares were difficult. They were really expensive and most of the time, you just couldn't access most markets. And what we've seen over the last even just five years is accessibility and costs have come down so much, and it's now just as easy to buy an American share or European share as an Australian share. And so, for us it feels like a no brainer. If we look around, you know, in this room what we're using, but more generally what we use in our lives, it's Apple computers, and we search on Google, we use Microsoft products. We want to invest in what we know, and more and more of what we know are overseas listed companies." Alec Renehan. Sharesight is the best portfolio tracking tool in the known universe - and they are pleased to extend a SPECIAL OFFER to listeners of this podcast: Save 4 months on an annual premium plan! Click here and sign up now for a 7 day free trial. Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation. Thanks to Christopher Soulos for music production out of Garlic Breath Studio https://www.facebook.com/GarlicBreathStudio. Remember music flows when the money don’t.   See acast.com/privacy for privacy and opt-out information.
35 min
Investopoly
Investopoly
Stuart Wemyss
Steppingstone strategy: how to buy your dream home
If the recent property price growth predictions become reality over the next couple of years, more homeowners may become ‘priced out’ of their desired location. What might be affordable today, could quickly become unaffordable, as prices can rise quickly. Sometimes it’s not possible to buy your dream home in one fell swoop. But do not despair. A steppingstone strategy could be the solution. Buying a dream home has always been a struggle, embrace it Property has always seemed expensive. I bought my first property 23 years ago for $150,000 and it was a big deal. It was a stretch, financially. It was a dump that needed renovating. Getting onto the property ladder and buying your dream home will take work. Some sacrifices. A little bit of hustling. But that has always been the case. Focus on the solutions, not the problems. Focus on building your deposit/equity If you are income-rich but asset poor, you need to build equity to extend your purchasing power. That equity could come in the form of cash savings/deposit or equity in an existing property. If your income earning capacity is limited, then accumulating more equity reduces the amount you need to borrow and as such, you are closer to being able to buy your dream home. Either way, your sole goal should be to build equity. How to implement a steppingstone strategy A steppingstone strategy involves buying an owner-occupier property with the sole aim of accumulating as much equity as possible, as fast as possible. Then, selling that property and using the equity to upgrade to a superior property. And continuing to do that until you have attained your dream home. There are three key steps to this strategy. _Step 1: Pick a location that has attractive short term growth prospects_ Buying a property in a location that is popular and is enjoying rising property price momentum can do a lot of the heavy lifting for you. The goal is to create equity as soon as possible. Therefore, it’s not as important to form a view about a given location’s long term growth prospects, unlike when buying a pure investment property. You just want to form a view about whether the price momentum will continue in the short term. Typically, locations that are gentrifying will exhibit above average growth rates. Gentrifying suburbs tend to have similar themes such as a changing demographic, increased renovation activity, new infrastructure and/or amenities that enhance the community feel (liveability) of the location and so on. Whilst it’s important to not buy at the peak of the market i.e. after prices have risen as much as they will, it is equally too risky to try to pick the next growth suburb, because you could be wrong. Essentially, you want recent evidence that the rising demand for the location is generating price growth. And that prices still have some future upside. _Step 2: Buy an older house with scope to manufacture equity_ Often, but not always, it is best to buy a house instead of a townhouse, villa unit or apartment. Firstly, houses tend to have proportionately more land value. Secondly, houses tend to offer more scope to improve their overall value e.g. renovation of bathrooms and kitchens, landscaping, adding a room/living area and so on. This is called manufacturing equity when the property’s value appreciates by more than the cost of the improvements made. Older houses (e.g. built pre-1970’s) offer better opportunities than newer ones, because there tends to be greater scope to make improvements, such as adding an additional bedroom, adding living areas or make it ‘open plan’. The risk of unexpected cost overruns is less likely if you stick to making cosmetic improvements i.e. no structural changes. It is also important that the finished product is aimed at the typical buyer in that location – it doesn’t have to appeal to your tastes – just have wide appeal to prospective buyers. It is important to note that suburbs closer to the CBD tend to offer better growth prospects. Therefore, start with the blue-chip suburbs and then move further out until you find a location that allows you to buy a house that fits within your budget. Sub-dividing a large block and constructing a second dwelling can also be a great way to manufacture (build) equity. It’s important to obtain tax advice from an experienced tax agent before you undertake such a project. _Step 3: Occupy the property to avoid CGT_ Buying, renovating and selling property is not a costless exercise. You pay stamp duty when you buy and agent fees when you sell. The last thing you want to do is make a donation to the ATO, as it will eat into your financial gains. Therefore, if you can nominate the property as your main residence, it will exempt you from paying capital gains tax (CGT). It might be difficult to occupy the property for the entire ownership period, especially if you need to complete significant renovations, but that should not prevent you from continuing to claim it as your main residence[1]. In summary Buy a house that is located in a suburb that is growing in popularity, as close to the CBD as your budget will allow. Select a property that has plenty of scope to add value e.g. renovate. Hold it for 2 to 7 years (as short as possible) before selling and moving closer to your desired (dream) location. Beware; this is a higher risk strategy Warren Buffett says risk comes from not knowing what you’re doing. This strategy will require a lot of homework including speaking to various property professionals. You must upskill yourself so that you can identify the best property prospects. It is still worth engaging a buyers’ agent as long as they have experience in buying the types of property in the locations you are targeting. In addition to upskilling yourself, you will need to assemble an experienced team including a mortgage broker, building inspector (you don’t want any nasty surprises), possibly a builder and maybe also financial advisor. Advice that makes money, pays for itself. The key assumption here is that the market will move in your favour. Of course, there is a risk that this might not happen, and you could be caught living in this property for longer than expected. Can your family help you? If you have enough income but don’t have a sufficient deposit, and alternative to the above strategy is to use a family guarantee, which I have discussed previously. Risk and reward I acknowledge this strategy is more hands-on and won’t suit everyone. However, there cannot be any reward without taking some risk and working hard. It might take you a few properties (steppingstones) and years to get to your desired location, but once you’re there, you and your family will enjoy the benefits for decades to come. [1] Of course, this is a generalisation, and you must obtain personalised tax advice.
15 min
The Elephant In The Room Property Podcast | Inside Australian Real Estate
The Elephant In The Room Property Podcast | Inside Australian Real Estate
Veronica Morgan & Chris Bates
Ep 164 - Marty Sadlier | Australia’s underinsurance epidemic: 83% underinsured!?
Marty Sadlier has over 19 years experience in the building and construction industry, he is the co-founder of MCG Quantity Surveyors which is recognised as Australia’s fastest growing quantity surveying firm; working with big names in business like McDonalds, CBA and Westpac. In this episode Marty breaks the news to Australians about the widespread building defects, the unbelievable underinsurance across Australia and what property investors should be doing to safeguard their biggest asset. Here’s what we covered: * How underinsured are Australians? * How to work out how much you should insure your house for? * Are online value calculators accurate? * How does extra costs such as demolish get lost in property owners calculations? * Can you insure depreciating buildings? * What is the difference between a valuer and a quantity surveyor? * Do apartment 5 year valuations increase their premiums? * How many buildings have flammable cladding? * Are things improving around building defects or is it getting worse? RELEVANT EPISODES: Episode 138 | Simon Kuestenmacher Episode 121 | Bart Mead Episode 113 | Dr. Nicole Johnston GUEST LINKS: https://www.mcgqs.com.au/elephant/ Fire Cladding Blog Common building defects Blog Final NSW Government Report into Building Standards and Quality Blog HOST LINKS: Looking for a Sydney Buyers Agent? www.gooddeeds.com.au Work with Veronica: https://linktr.ee/veronicamorgan Looking for a Mortgage Broker? www.wealthful.com.au Work with Chris: hello@wealthful.com.au Send in your questions to: questions@theelephantintheroom.com.au EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness… This episode was recorded in February 2021.
1 hr 12 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 Michael Yardney Podcast | Property Investment, Success & Money
The Michael Yardney Podcast | Property Investment, Success & Money
Michael Yardney; Australia's authority in wealth creation through property
Ditch the Debt and get Rich with Effie Zahos
Navigating the world of personal finance can be overwhelming, even for an adult who has quite a bit of experience in the working world. Yet with some smart planning, a good strategy, and an understanding of the basics you should be able to develop the money-management skills you need to get your finances under control. And that’s what I discuss in today’s show with Australia’s leading finance columnist Effie Zahos. While many people listen to this podcast because they’re interested in property investing, money management is a critical part of any type of investing, and especially real estate investing. You need good money management to save your first deposit and once you own a property or two money management is even more important. So don’t let the financial world intimidate you. You may not have been taught much about finances, but I believe that 80% of personal finance is not financial education, but financial behaviour. If you can modify your behaviour with your finances, you can modify your financial future. And even if you don’t have money problems, I think you’ll enjoy my chat with Effie today as we discussed her new book and some lessons that we should be teaching our children and grandchildren. And of course, I will be sharing my regular mindset message with you. Ditch the Debt and Get Rich The Covid-19 pandemic impacted just about every Australian. Some people manage to cope well financially – others did even better financially turning lemons into lemonade, however, many Australians ran into financial difficulty with some only managing to stay afloat by raiding their super or putting a pause on their debt It was just another example of the rich getting richer and they did so by understanding the way money and finance works. Now you know one of the aims of my podcast and my blogs is to make more and more Australians financially fluent and help them get control of the finances. So, I was pleased to hear that leading Australian finance commentator and author Effie Zahos has just published a new book called Ditch the Debt and Get Rich. Effie Zahos is one of Australia’s leading personal finance commentators, with more than two decades of experience helping Aussies make the most of their money. She’s a regular money expert on Channel 9’s Today Show and on radio around Australia and was editor of Money magazine and is now Editor-at-Large at Canstar. Some of the subjects that Effie and I discussed * Effie’s journey and why she believes it’s so important to be the best financial version of yourself and learn the right things to teach your kids about finance. * Why more Australians aren’t wealthy and how they’ve become an instant gratification society. * The importance of mindset in developing wealth. * Money personalities – The animal traits that correspond to how you deal with money: Peacocks, Squirrels, Sloths, Owls, Ostriches * The problem of buy now, pay later, and how to be more aware of the tricks retailers use to get us to spend. * How to break the cycle of living payday to payday by no longer setting yourself up for failure. And how to put yourself on a bare-bones budget to catch up. * Common money mistakes. * Debt repayment strategies. * How to think rich in order to become rich. * How children learn financial literacy from their parents. * Some of the lessons Effie has learned over many years writing and speaking about finance. * It’s not what you earn that counts it’s what you spend. * Compound interest can make you a millionaire. The great Albert Einstein once said: "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it". * Learn to say no * I am my best investment * I will continue to make mistakes * love your superannuation fund * Set your savings on autopilot * Have a plan and stick to it * The people who will most benefit from Effie’s new book: savvy investors, people who need a nudge, and people who want to be a better financial version of themselves Links and Resources: Michael Yardney Metropole’s Strategic Property Plan – to help both beginning and experienced investors Effie Zahos’ new book – Ditch the Debt and Get Rich Shownotes plus more here: Ditch the Debt and get Rich with Effie Zahos Some of our favourite quotes from the show: “There’s a whole science behind behavioural finance, and that’s why I think reading your new book Ditch the Debt and Get Rich is important.” – Michael Yardney “Some financial discipline early in life will allow people to have those enjoyments later on.” – Michael Yardney “The gap between what you gain and how much you avoid offsetting the gain is the figure that matters the most.” – 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
46 min
The Buyers Bible
The Buyers Bible
Amy Lunardi
30 What happens after you buy With Victoria Devine
Woohoo! You’ve bought a property, congrats! So…. now what? In today’s episode I’m joined again by the fabulous Victoria Devine, who recently went through the home buying journey and settlement process herself. We explore what happens between purchase and settlement, including making sure you get the contract off to the relevant people, paying your deposit, sorting insurances (very important!!), final inspections and settlement day. Plus, once you settle, you have the awesome responsibility of paying off a mortgage (yay). Victoria and I chat about loan minimisation strategies, utilising your offset account and making sure you’re always getting the best interest rate. PS this is the last episode of The Buyers Bible, thank you SO much for joining us!!! Keep an eye out for my new podcast The Property Playbook (with Victoria Devine) :) Do you have a burning property question you’d like answered on the show? Connect with us on instagram @thebuyersbible, we’d love to hear from you with questions, thoughts and feedback. Don’t forget to head to our website www.thebuyersbible.com.au for our show notes, and to download your free first home buyer checklist. Information provided in our podcast is general in nature and does not constitute financial advice. Every effort has been made to ensure the information is accurate, listeners must not rely on this information to make investment or financial decisions. Theme music: Lioness (Instrumental) by DayFox https://soundcloud.com/dayfox Free Download / Stream: https://bit.ly/lioness-instrumental
29 min
my millennial money express
my millennial money express
SYMO interactive
3 ways to prevent burnout 🥵
Burnout is all too common and it's time we ended it! In this episode I chat with Vanessa Bennett from Next Evolution Performance about how we can finally end burnout, touching on: 👉🏿managing mental energy - understanding the concept of energy credits 👉setting boundaries in your life and with certain people - not being afraid to say no 👉🏼personal accountability - taking ownership of your life, boundaries and choices To access Vanessa's course, 'The Neuroscience of Getting More Done', head to https://www.nextevolutionenergy.com/ and use the code M3 (case sensitive) for $75USD off! Have a listen to Vanessa's previous episode around peak performance: https://player.whooshkaa.com/episode?id=450988 Check out The Glen James Spending Plan - use coupon code "m3x" with the link below to get this for under $50... save $20) For podcast resources, links to our stuff, disclaimers & warnings about this episode + more... check out: https://www.sortyourmoneyout.com/m3xshownotes 🛑 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.
17 min
Nucleus Investment Insights
Nucleus Investment Insights
Nucleus Wealth
4.08 Inflation: Mirage or Oasis? | Nucleus Investment Insights
Nucleus Wealth's Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen and Head of Advice Tim Fuller discuss if record low interest rates, pandemic level monetary and fiscal stimulus along with surging asset prices translate into long term inflationary pressures View the presentation slides: https://nucleuswealth.com/wp-content/uploads/2021/02/inflation-oasis-or-mirage.pdf On the agenda: Inflation factors: commodity prices, supply disruptions, structural & cyclical factors Deflation factors: wages. China & expectations How to invest in inflation To listen in podcast form click here: https://nucleuswealth.com/podcasts/?utm_source=youtube&utm_medium=direct&utm_campaign=podcast Get an obligation-free portfolio recommendation to see how we would invest for you: https://portal.nucleuswealth.com/register/?utm_source=youtube&utm_medium=direct&utm_campaign=podcast Learn more about the hosts: https://nucleuswealth.com/people/?utm_source=youtube&utm_medium=direct&utm_campaign=podcast Find us on social media: https://www.facebook.com/NucleusWealth/ https://twitter.com/NucleusWealth https://linkedin.com/company/nucleuswealth Nucleus Wealth is an Australian Investment & Superannuation fund that can help you reach your financial goals through transparent, low cost, ethically tailored portfolios. To find out more head to https://nucleuswealth.com/?utm_source=youtube&utm_medium=direct&utm_campaign=podcast. The information on this podcast contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Damien Klassen and Tim Fuller are an authorised representative of Nucleus Wealth Management. Nucleus Wealth is a business name of Nucleus Wealth Management Pty Ltd (ABN 54 614 386 266 ) and is a Corporate Authorised Representative of Nucleus Advice Pty Ltd - AFSL 515796 #inflation #investing
1 hr 16 min
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