100 episodes

Are you looking for financial freedom or more choices in life? You're in the right place. Each week Michael Yardney shares smart property investment strategies as well as the success and personal finance secrets of the rich, in 20 minutes or less.
While Michael is best known as a property expert, he is also Australia's leading experts in the psychology of success and wealth creation and a #1 best selling author of 8 books. He frequently challenges traditional finance advice with innovative ideas on real estate 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 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 Michael Yardney; Australia's authority in wealth creation through property

    • Investing

Are you looking for financial freedom or more choices in life? You're in the right place. Each week Michael Yardney shares smart property investment strategies as well as the success and personal finance secrets of the rich, in 20 minutes or less.
While Michael is best known as a property expert, he is also Australia's leading experts in the psychology of success and wealth creation and a #1 best selling author of 8 books. He frequently challenges traditional finance advice with innovative ideas on real estate 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 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

    What you do with a dud property. How do you know if you should sell or hold, with Brett Warren

    What you do with a dud property. How do you know if you should sell or hold, with Brett Warren

    You invest your money to give yourself the highest likelihood of reaching your goals. But how do you know if your investment is actually helping you reach your goals?
    And what do you do if your investment properties are underperforming?
    That’s what I’m going to discuss today with Brett Warren, and our conversation will be informative for both new and experienced investors.
    Then, in my mindset moment, I’m going to share some advice from Bill Gates.
    Are your properties achieving the results you were expecting?
    Will it get you where you want to get to?
    The first thing to understand is what your overall strategy is and how the property fits into that strategy.
    Then you need to know whether the property is performing as expected and whether it’s outperforming the market.
    Ask yourself if you would buy the property again if it were on the market today.
    Are there improvements that you could make to the property to increase its value?
    How is the property going to perform going forward?
    Ask yourself why you chose this property – often because it was recommended by someone with a vested interest.
    Where are the locations that will outperform?
    Places where people have multiple streams of income and more wage growth Gentrification Infrastructure Livability and amenities – people will be prepared to pay a premium to live in places where they feel safe and comfortable, especially post-COVID-19 Good investment properties need multiple pillars. Just one of these factors isn’t enough. 4 Reasons why properties under perform
    Timing – bought at the top of the cycle Price – paid too much for the property Location – if the location is under performing, the property will be as well Property – poor selection, something wrong with the property If the timing or price was wrong, but the property is right, it might just be a question of waiting. But if the property isn’t going to improve in value, it’s time to sell.
    Links and Resources:
    Michael Yardney
    Metropole’s Strategic Property Plan – to help both beginning and experienced investors
    Brett Warren - Metropole Property Strategists
    Shownotes plus more here: What you do with a dud property. How do you know if you should sell or hold, with Brett Warren
    Some of our favourite quotes from the show:
    “I think it’s important to understand what motivated them, what their thoughts were when they chose that particular property.  ” –Michael Yardney
    “We frequently say it takes the average property investor 30 years to become financially independent, that’s because in the first 10 years you make all those mistakes.” – Michael Yardney
    “If you can only own 2 or 3 properties, you’ve got to own the best ones you can.” – 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

    • 34 min
    The recession is over, here's how the recovery and property will be different, with Pete Wargent

    The recession is over, here's how the recovery and property will be different, with Pete Wargent

    It looks like we worked our way through the recession, and slowly but surely, the coronavirus pandemic is coming under control.
    That means that the recession that we had was very different from previous recessions. But what does our recovery look like?
    That’s what I’m going to talk about today with Pete Wargent.
    We’ll discuss what’s ahead for our economy, why the recession panned out as it did, and how that’s going to set the scene for the next stage of Australia’s economy.
    Then, in today’s mindset message, I’m going to discuss the concept that yes, money can buy happiness… with some qualifications.
    How will this recovery differ from previous recoveries?
    Most economists predicted a recession due to the pandemic, but they differed on what it would look like.
    Today we’re going to discuss why this recession, that we’ve now worked our way out of, and the coming recovery are different from previous downturns.
    We may no longer technically be in a recession, but it’s not all over yet. We have a long way to go to get back to pre-COVID levels Prices have stopped falling, even in Melbourne The reserve bank has released further interest rate cuts, quantitative easing, cuts in fixed-rate mortgages There are still issues relating to mortgage deferrals The response from the government to this recession has been very different from the responses to previous recessions There are actually more dollars in the economy because people can’t take vacations and spend money overseas Some of the changes in working – such as more working from home and online – are likely to stick A V-shaped recovery is probably too optimistic But Australia is still better placed than many other countries for a strong rebound next year Sydney and Melbourne will lead the way in double-digit housing price growth next year, with a strong performance in Brisbane as well However, some sections of the market will still lag, such as high-rise apartments in the CBD Links and Resources:
    Michael Yardney
    Metropole’s Strategic Property Plan – to help both beginning and experienced investors
    Pete Wargent  -- Next Level Wealth
    Pete Wargent’s new book Low Rates High Returns
    Shownotes plus more here: The recession is over, here's how the recovery and property will be different, with Pete Wargent
    Some of our favourite quotes from the show:
    “I think one of the government’s jobs is to look after its citizens.” – Michael Yardney
    “Interest rates are not going to go up for at least three years, and that gives people a level of security.” –Michael Yardney
    “Generally speaking, having enough money for the basic necessities in life, as well as your wants and needs, usually means a happier life.” – 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
     

    • 34 min
    This is the type of property that will lead the recovery in 2021 with Stuart Wemyss

    This is the type of property that will lead the recovery in 2021 with Stuart Wemyss

    There are signs that the modest coronavirus-induced housing correction has come to an end.
    Nobody’s going to ring a bell telling us the market’s bottomed, but I’m sure when we look back in 12 months’ time, we’re going to find that the value of some properties has increased significantly and our property markets turned the corner in October 2020.
    But as usual, some segments of our property markets will continue to languish.
    Now I’m not denying that we’re still going to have some challenging times ahead. We are. But the recovery of our home values has been underwritten by a number of factors that we’re going to discuss in today’s podcast as I have a chat with Stuart Wemyss.
    Stuart’s going to talk about what kinds of properties are going to lead the recovery in 2021 and why buying the right property next time around is more important than ever.
    And then, in my mindset moment, I’m going to share with you one of the most important lessons I learned from one of my mentors as we talk about the miracle of personal development.
    At the end of today’s podcast, I hope you’ll have a bit more clarity about what’s going to happen to our property markets inn 2021 and what you need to do to position yourself correctly.
    What properties will lead the recovery in 2021?
    The major media has done a backflip on their predictions earlier this year of 10, 15, 20, and even 30% drops in property market values.
    One of the people who has forecast things over the past year and gotten it right most of the time is director of Prosolutions, Stuart Wemyss
    Highlights from our conversation:
    The market didn’t take as much of a hit as many predicted that it would this is because: The government absorbed most of the cost The people who were hit hardest by the coronavirus pandemic were mostly younger and lower income There are two major sectors to be concerned about: Regions dominated by low-income earners Inner city apartment markets The loan pause data shows that 9 out of 10 of the greatest loan pause suburbs have been in southeast Queensland This might be because the area was heavily impacted by the reduction in tourism It’s also possible that most of the loan pauses are out of convenience rather than necessity. Since prices are down on the lower end of the market, why not get in on that and get a bargain now? There are two types of tenants in rentals: lifestyle tenants and necessity tenants It’s the properties occupied by tenants that rent by necessity that are on the lower end of the market These properties don’t offer much capital growth in the medium to long-term The tenants may be living week-to-week, which makes it less likely these properties will be profitable Lending criteria will soon be lessened. This is a game changer for property markets Interest rates are low and probably going to stay low for several years to come This decreases the risk of taking on debt and makes it more affordable Lower interest rates will probably have a bigger impact on the top end of the market Choosing the right first property is important because good decisions compound and lead to future good decisions Links and Resources:
    Michael Yardney
    Metropole Property Strategists
    Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
    Stuart Wemyss – Prosolution Private Clients
    Stuart’s Book – Rules of the Lending Game
    Some of our favourite quotes from the show:
    “Interest rates are likely to have a larger impact at the top end of the market, the luxury end of the market.” – Michael Yardney
    “Instead of asking about your work, your job, “what am I getting?” instead you should be asking yourself “what am I becoming?”” – Michael Yardney
    “If somebody hands you a million dollars, you better hurry up and become a millionaire.”

    • 42 min
    Here’s what 1,500 investors think is going to happen to property in 2021 - Our Annual Property Investment Sentiment Survey

    Here’s what 1,500 investors think is going to happen to property in 2021 - Our Annual Property Investment Sentiment Survey

    Are you wondering what’s ahead in property for 2021?
    Maybe you’d like to know what other Australian property investors plan to do?
    Well, that’s exactly what we discuss in today’s show as we unpack the results of this year’s Property Investor Sentiment Survey. 
    You’ll hear what 1,500 Australians feel about our current real estate markets and what they plan to do. And you’ll also hear what COVID did to their property plans and how if at all it changed their strategy
    And to discuss the results of this year’s survey, I’m joined by Brett Warren.
    Being Australia’s longest-running and largest survey of Australian property investor sentiment, it showcases insights from property investors and would-be investors across the country.
    Running since 2011, it offers rich and vibrant insights into how property consumer trends and sentiments have changed over time.
    And as usual I’ll share a mindset message with you – because if you can change your thinking it could change your life.
    Highlights from the Sentiment Survey
    Has the coronavirus induced recession affected you?
    Are you considering moving to live in a different location because of COVID-19?
    Has the pandemic changed your strategy or approach to property investing?
    These are some of the Covid-19 related questions we recently asked 1,500 Australian property investors and would-be investors in our annual Property Investment Sentiment Survey, and some of the answers were enlightening.
    Being Australia’s longest-running and largest survey of Australian property investor sentiment, it showcases insights from property investors and would-be investors across the country.
    Running since 2011, it offers rich and vibrant insights into how property consumer trends and sentiments have changed over time.
    So if you’re wondering what’s ahead in property for 2021 you’ll enjoy today’s podcast because you’ll hear what 1,500 Australians feel about our current real estate markets and what they plan to do.
    And to discuss the results of this year’s survey I’m joined by Brett Warren national Director of Metropole Property Strategists.
    These are some of the highlights of the survey that Brett and I discuss today:
    Survey respondents already owned an average of about 2 properties each Survey respondents who don’t already own property are planning to get into the market in 6 months to 2 years About half would consider rentvesting – renting for themselves while owning an investment property. Most respondents are not considering moving because of COVID-19 Only 3% of respondents did not have an investment strategy 74% of respondents think that now is a good time to invest Only 6% said they’re worried about the future of property investing Only 10% of respondents said they had applied for a mortgage repayment holiday for either their home or investment properties because of COVID-19. One-quarter of the respondents had received a request for a rental reduction or holiday because of COVID-19 from the tenants While 20% are pausing their investment plans until the situation became clearer, the majority of respondents are not going to change their plans and 14% are going to take advantage of the current climate to enter the market sooner. 50% of the respondents were planning to buy an investment property in the next 12 months 38% want to buy a property with value-add potential of renovation or development Close to half of respondents didn’t see boom conditions. Most had a realistic view and saw good long-term conditions Ultimately, most respondents have a realistic and positive view of the year ahead. Links and Resources:
    Michael Yardney
    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 the results of the 2020 Property Investor Sentiment survey here
    Sho

    • 46 min
    Here are 2 proven ways to get rich | Rich Habits, Poor Habits Podcast with Tom Corley

    Here are 2 proven ways to get rich | Rich Habits, Poor Habits Podcast with Tom Corley

    You’re probably listening to this podcast because you’re interested in property investment, but if you’re like most people, you’re also interested in more success in various elements of your life, as well as more money.
    We’re going to have two separate sections to today’s show.
    In one I’ll explain to you why wealth is about what you don’t spend.
    In the second segment, I’ll have a chat with Tom Corley who studied millionaires and poor people for five years, and one of his conclusions was that being rich comes down to only two things.
    Is it really as simple as that? Clearly, it’s not that simple or more people would be millionaires.
    But Tom has a great message, and at the end of today’s show, you’ll know more about the rich habits you want to develop and the poor habits you should leave behind.
    Why Wealth is About What You Don’t Spend
    Some people use exercising to justify food binges. They feel that they’ve done the exercise, so now they deserve a treat.
    The same kind of thing happens with money. Even though Australians earn more than they ever have before, financial gains made by higher wages are often lost due to higher spending.
    Financial well-being is in the gap between what you earn and what you spend.
    Savings relies on your ability to earn an extra dollar, acknowledge that it would feel great to spend it, but to save it anyway.
    In other words, delayed gratification.
    Earning more money is an important part of building wealth. But it’s not enough by itself. Earning more won’t help you build wealth if you spend every extra dollar you make.
    Learning to contently live with less has the same effect as growing your income. And it’s often easier for you to control.
    Building wealth is a negative art. It has a lot to do with actions you don’t take and things you avoid.
    Everything has a price. The price of building wealth isn’t just the work of earning more money, it’s also avoiding the urge to spend.
    Becoming Rich Boils Down to 2 Things
    The first thing you have to do to become rich is to accumulate wealth. This isn’t easy and it will take time.
    The second thing you have to do is keep the wealth that you accumulate.
    How can you do these two things? With the right habits.
    One of the first thing you can do is start by setting some goals for yourself. Use visualization. Your brain thinks in pictures. When you visualize a goal that you want to achieve, you see a picture in your brain and starts looking for ways to get to that picture Once you’ve started to set goals, you have to start pursuing daily growth. Become a bit better every day than you were the day before. Don’t compare yourself to other people, compare yourself to who you were before. How should you pursue daily growth? A common habit of rich people is reading. Rich people do specific, focused reading every day, usually for about 30 mins. Another way is to practice your skills outside of work. When it comes to keeping your wealth, delayed gratification is important. Spend less than you earn so that you can put your money to work for you. Stay optimistic and open-minded. Having a positive mental outlook leads to looking for solutions to problems and listening to other people’s ideas. You need to have a strategy that you’re following for saving and building wealth Wealthy people are also prepared to pay for coaches and mentors Links and Resources:
     Tom Corley - Rich Habits
    Michael Yardney - Metropole
    Get your own copy of our international bestseller Rich Habits Poor Habits
    Shownotes plus more here: Here are 2 proven ways to get rich | Rich Habits, Poor Habits Podcast with Tom Corley
    Some of our favourite quotes from the show:
    “Spending more when your income rises is as tempting as eating more after you exercise. It feels like you’ve earned it.” – Michael Yardney
    “Don’t compare your chap

    • 38 min
    What the bad news for airline pilots means for you as a property investor + The working from home revolution with Brett Warren

    What the bad news for airline pilots means for you as a property investor + The working from home revolution with Brett Warren

    We’re almost at the end of another year.  And what a year it’s been!
    2020 started off with predictions of a fantastic year in property.
    Remember we were coming off the end of 2019 when property markets were very strong.
    Then the predictions changed to doom and gloom because of COVID. And it wasn’t just the naysayers – economists were suggesting property doom as well.
    Now it’s been said that the role of an economist is to explain to you tomorrow why what they predicted yesterday didn’t come true today.
    This is a very apt description of the behavior of many economists and all of those other experts chasing headlines who were very noisy in the media with their attempts to exploit the pandemic for publicity.
    But those of you who saw the dark side, you were wrong.
    We’ve had great support from incentive programs from the government, and now it’s become clear that our property markets have turned the corner and will perform very strongly over the next couple of years.
    However, life is still going to be very different going forward, and that’s part of what will discuss on today’s episode of the Michael Yardney Podcast.
    I’m going to share some lessons that you can learn from what happened to airline pilots (and it’s probably not what you think.)
    Then I’m going to have a chat with Brett Warren about the suggested trend toward working from home.
    And finally, I’m going to share a mindset moment with you that may help you think differently about life and your situation.
    What the Bad News for Airline Pilots Means for You
    Qantas lost billions of dollars and has shed thousands of employees.
    Virgin went broke and similarly, its employees, including pilots, are facing layoffs or job losses.
    While a gate attendant might easily transition into a customer service position in another industry, what does a pilot to do?
    How do their special skills translate into a new industry?
    Of course, pilots aren’t the only people with high-paying, prestigious jobs based on skills that are narrowly marketable should the industry they’re in slow down.
    Chefs and entertainers are suffering.
    Even many surgeons were temporarily put out of business to preserve medical capacity for COVID victims.
    It can happen to anyone with very little warning.
    Do you have skills that are transferable?
    And if so, which industries are expanding? Is there even room for you?
    If you think about it, it’s really no different than when an illness, accident, disability, or any severe life event takes you out of action.
    When you trade time for dollars … even for a high income…you are vulnerable.
    And even if you have insurance or some money saved for a rainy day – this might not absorb the entire impact.
    Of course, the key to security and resilience is to have a cash machine.
    By that I mean a portfolio of investments that provides you with enough income to live on … and more … whether you work or not.
    And the right time to start building that cash machine is right now.
    Actually, that’s wrong!
    The best time to have started building your property portfolio, your cash machine, would have been 20 years ago. The second-best time is right now.
    Wherever you are now, it’s smart to use what you have to create resilient wealth to shelter yourself from tough times … whether they’re on the horizon or on your doorstep.
    The good news is …. properly structured property portfolios have a strong track record of resiliency through challenging times.
    The bad news is it takes money, knowledge, relationships, credit, and in particular, time to build a resilient portfolio.
    I don’t know your personal circumstances; maybe all you can do at the moment is hunker down and get through the challenging times we are going through.
    But for many Australians now is the time to get all your ducks in a row and look after your future.
    No

    • 25 min

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