The Michael Yardney Podcast | Property Investment, Success & Money

Michael Yardney; Australia's authority in wealth creation through property

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Are you looking for financial freedom or more choices in life? You're in the right place. Twice each week Michael Yardney shares smart property investment strategies as well as the success and personal finance secrets of the rich, in around 30 minutes. MIchael has been voted one of Australia's top 50 Influential Thought Leaders and while he is best known as a real estate investment expert, he is also Australia's leading expert in the psychology of success and wealth creation and a #1 best selling author of 9 books. Michael frequently challenges traditional finance advice with innovative ideas on property investing, personal finance and wealth creation. His wisdom stems from his personal experience and from mentoring over 2,000 business people, investors and entrepreneurs over the last decade. Michael's message will be priceless regardless of the size of your real estate investment portfolio - whether you're just starting out or an experienced investor wanting to move to the next level, he will provide you a roadmap for real estate investing and financial success. http://MichaelYardneyPodcast.com

The Michael Yardney Podcast | Property Investment, Success & Money

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The Property Investor's Checklist with Brett Warren

Imagine you're standing on the doorstep of your next potential investment. The façade looks great, and the price seems right, but what's lurking beneath? What questions should you be asking to ensure this property doesn't just look good, but will also deliver the returns you're after? Whether it's your first investment or your fiftieth, the right questions can mean the difference between a gold mine and a money pit. In today’s podcast, Brett Warren and I will discuss the intricate world of property investment, underlining the importance of thorough research, financial planning, and maintaining a logical approach when investing in a property. We also delve into the financial aspects of property investment, discussing cash flow, financing, and the importance of having a financial buffer. Essential Tips and Strategies for Navigating Property Investment Our discussion today covers the critical questions every property investor should answer before making a purchase, the importance of understanding location, and the significance of planning and financial preparedness. The 10 Questions to Secure Property Investment Success * Does this property fit into my long-term strategy? * If you don’t have a plan in place, you’re not ready to buy your next investment property * Is this an investment-grade property? * Not all properties make good investments. In my mind, less than 4% of the properties on the market currently are what I call “investment grade.” * What is the property worth? * Even two houses, side by side in the same street, could be valued differently because of their individual attributes. * To determine how much a property is worth you need to check all the recent comparable sales and the property’s intrinsic value and then also determine the following 3 figures: i. What price do I want to pay for the property? ii. What do I consider the market value to be? iii. What price am I prepared to pay and when am I prepared to walk away? * Where am I getting my data, information, facts, and figures from? * It is very important to understand what has driven the data you’re using to make your decisions because not all data is reliable or meaningful. * Do I have my finance pre-approved? * Finance is the leveraging tool to help you get into the property, and property will be the vehicle that will create your long-term wealth. So, it is important to have a finance strategy part of which is a finance pre-approval. * Do I have a solid finance strategy? * Smart property investors use other people’s money in three ways: i. The bank's money for leverage ii. The tenant’s money for income iii. The government's money for tax incentives * Have I set up the right ownership structures? * The right ownership structure will help you to minimize your tax, build your wealth, and manage your risk. * Will my cash flow service my finance requirements? * Understanding cash flow can be the difference between a solid long-term investment and a costly mistake. * Am I approaching this as an investor or am I emotionally involved? * When it comes to investing, however, letting your heart rule your buying decision is a huge no-no. * What if my financial circumstances change * The more prepared you are and the more planning you have done, the more protected your investment will be if your financial circumstances take a turn for the worse. Links and Resources: Michael Yardney Brett Warren _–_ National Director Metropole Property Strategists Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us Get a bundle of eBooks and reports = www.PodcastBonus.com.au Some of our favorite quotes from the show: “Not all tenants rent because they're poor. Remember your future income is going to be dependent upon your tenants' ability to keep paying higher rent over the years.” – Michael Yardney “So actually, as an investor, you're using other people's money in three ways: the bank’s money for leverage, the tenant’s money to repay the mortgage , and the government’s money for deductions.” – Michael Yardney “So, even though we help our clients plan, we tell them to plan for their plan not to go to plan, and that's not necessarily a play on words, but it means that we also look out for risks. – 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