Things That Aren’t Buying an Investment Property.
❌ Scrolling through Realestate.com.au isn’t buying an investment property
❌ Speaking with a mortgage broker isn’t buying an investment property
❌ Telling friends and family you’re going to buy an investment property isn’t buying an investment property.
❌ Having a consultation with a buyers agent isn’t buying an investment property.
❌ Watching YouTube videos and listening to podcasts isn’t buying an investment property.
❌ Following me and others on socials isn’t buying an investment property.
❌ Blaming market conditions, interest rates, the government & other things for holding off on purchasing isn’t buying an investment property.
❌ Reading books, attending seminars and webinars isn’t buying an investment property.
✅ The only thing that is buying an investment property is buying an investment property.
#melbourneproperty #brisbaneproperty #sydneyproperty #perthproperty #goldcoastrealestate
Property Traders…
If you are looking to purchase an investment property today to flip in 12 months.
You are not a property investor, you are a property trader.
In Australia, property investors seek to hold assets for at least a decade.
All the incentives are aligned for this because of expensive entry and exit costs.
Holding property for a short period of time increases risk significantly and is basically an actively managed small business as opposed to a long term value investor.
Here at the Edge we are Howard Marks style value investors.
Buy under valued high quality scarce property in our Major capitals and hold for decades. Let tax free compounding do the work.
The greatest financial hack is…
Follow @stephenglynnproperty for more.
….Living below your means.
I cannot stress this point enough.
It is obviously such a simple point but extremely hard to actually do.
This is true for all levels of wealth and income.
The amount of broke and miserable ‘rich’ people I come across is truly sad.
These people are by all measures ‘rich’ financially but expensive cars, private schools fees, huge mortgages, watches, designer clothes and everything else makes them part of the wealthy financially stressed crowd.
These people live a big life and the pressure to keep that high income flowing in to cover their expenses makes them miserable.
Once you get a nice car or big house, it is a massive hit to the ego to do anything else other than get an even bigger house or nicer car.
This is why the longer you can delay gratification and just continue to keep your life expenses the same or low while you grow your wealth, the happier you will be.
I am not advocating for living in one bed unit with a family of 4 and eating noodles. But rather keeping your expenses much lower than your income and not raising your expenses right alongside your wealth and income growth. This makes people miserable and under more pressure than when they had less money.
This is especially true for spending on immaterial things like nice cars rather than good spending on things like experiences, time with family and so forth.
Personally I spend a shit load of money on experiences, traveling and holidays with family. Will never regret a single penny of that being spent.
This is the single best piece of finance advice I could give someone.
Is it ironic to talk about living within your means while uploading a picture of me on a first class flight? Yes but that’s the point. My net worth crossed 3 million before I ever flew business or first anywhere & still around half the air miles I do is in economy. Will fly business or first only when flying long haul & when there’s a good deal or I have the points or whatever. Otherwise just flying economy.
I have an 8 year old 20k car as another example of keeping expenses in line.
I largely practice w
Do financial advisors give good financial advice?#
Australian adults 10 year property investment journey summarized.
Every adult says they will buy an investment property but very few actually do.
The typical Australian did not own an investment property over the last decade and therefore made $0 from investment properties in that time.
Choose whether you want to have the typical adult stats come 2036 or join the relatively few who own high quality investment grade properties.
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