The Top 10 Must-Ask Questions Before Your Next Property Investment with Brett Warren
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
Release Date: 08/05/2024
The 4 Decisions That Matter More Than Every Property You'll Ever Buy | Stuart Wemyss
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
What if I told you that almost none of the financial decisions you agonise over actually matter? Most investors worry about interest rates, the next hot suburb, tax changes, market timing, stock picking, and whether they should buy now or wait. But what if 95% of your financial future is shaped by just a handful of decisions - many of them made quietly, early, and often without enough thought? That’s the fascinating idea we’re unpacking today with Stuart Wemyss, founder of ProSolution Private Clients, who says there are really only a handful of decisions in your...
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Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
Capital city home prices have continued to fall sharply over August with no sign yet of the usual pre-spring revival in activity. The national capital city median house price fell by 1.8% over the August quarter to $1,226,833 compared to the July quarter, according to the latest data from My Housing Market. In today’s show Dr. Andrew Wilson explains what’s really happening in Australia’s property markets as we head into Spring. We unpack why house prices have kept easing, why units are holding up better, and what the latest figures mean for buyers and...
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7 Poverty Mindset Traps Holding Property Investors Back | Tom Corley
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
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The Biggest Wealth Mistakes Even Smart People Make - with Greg Hankinson
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
What if I told you that some of the worst financial decisions I've ever seen were made by some of the smartest people I know? Doctors. Lawyers. Business owners. Executives. People who are genuinely brilliant in their field, yet they're making wealth mistakes that are quietly costing them hundreds of thousands of dollars, sometimes more. And here's what's really interesting: their intelligence isn't protecting them. In some cases, it's actually making things worse. Because smart people are used to being right. They research more, they debate more, they over-think...
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The Retirement Time Bomb Property Investors Can’t Ignore | Simon Kuestenmacher
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
What if the greatest financial risk facing you isn’t the next property downturn, another interest rate rise or even a recession, but the possibility that you live much longer than your money does? Many Australians approaching retirement are planning around a model that belongs to another generation. They assume they’ll stop working somewhere around 65 and need enough money for perhaps 15 or 20 years. But if you live into your 90s or even reach 100, your retirement could last 30 or 35 years. That means decades of rising living costs, healthcare expenses and inflation...
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Property, Wealth and Happiness: Why Australians Feel Worse Despite Having More
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
What if rising property values are making Australians wealthier on paper, while leaving many of us feeling less secure, more stressed and less satisfied with life? Australia is a prosperous country, and millions of homeowners have built substantial wealth through property. Yet measures of happiness have remained flat or declined, while younger Australians increasingly feel locked out of the property market and excluded from the prosperity they see around them. In today’s show, I’m going to explore the growing divide between property wealth and personal wellbeing, and why...
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Commercial Property After the Budget: Smart Strategy or Expensive Trap? | Brett Warren
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
Commercial property is suddenly attracting a great deal more attention from investors. Following the recent Federal Budget changes, some residential property investors are looking at warehouses, offices and shops and wondering whether commercial property offers a safer tax environment, stronger cash flow and a better way forward. On the surface, the numbers can look very attractive, but by the end of this show, you're going to understand the real differences between commercial and residential property, the risks that most residential investors never see coming until it's too...
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The Biggest Mistake Property Investors Make with Joseph Ballota
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
Is now the right time to invest in property… or should you wait? Everyone wants to buy at the bottom and sell at the top. But what if trying to time the market is actually sabotaging your wealth? Today I’m joined by Joseph Ballota to discuss whether timing the property market is a good idea. And by the end of this episode, you’ll understand why long-term investors don’t try to pick the cycle… they build wealth across multiple cycles. Joseph and I discuss why trying to time property markets usually backfires, especially when headlines are loud and...
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Shadow Treasurer Tim Wilson on Housing, Property Markets, Tax, Debt and Australia’s Economic Future
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
Negative gearing on established homes has just been abolished. The capital gains tax discount you've relied on for twenty years has been rewritten. And somewhere between the government's press conference and the Treasury modelling, a trillion dollars in debt got added to the tab for a generation that hasn't even been asked if they're willing to pay it. So here's the question I want to answer for you today. If you're a property investor, a business owner, or someone who just wants a comfortable retirement, what do the next three years actually look like for you? By...
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Winter Property Market Shock: Prices Fall Nationwide | Dr.Andrew Wilson
Property Investment & Wealth Creation Australia | The Michael Yardney Podcast
July has delivered the clearest evidence yet that Australia’s property market has changed direction, but the headline figures only tell part of the story. Capital city house prices fell by 1.5 per cent over the month, the sharpest national decline since August 2022, while Sydney recorded a particularly significant fall of 2.7 per cent. Melbourne house prices are now almost 6 per cent lower since the beginning of the year, and prices also declined across Brisbane, Adelaide, Perth and Darwin during July. Yet look beneath those monthly figures and Australia still has...
info_outlineOn today’s episode, I chat with Brett Warren about asking the right questions before buying that next property because doing that can make all the difference between a profitable venture and a costly mistake.
I’m sure you've heard me say before that property investment is a process, not an event, and the property that you're going to eventually buy should be the physical manifestation of a whole lot of decisions you make. So, in today's episode, we're going to explore the top 10 questions you've got to ask before making that next big purchase, and they're going to help you evaluate potential investments and understand market dynamics.
We're going to try and make sure that you set yourself up for long-term success.
So, by the end of this episode, you should have a comprehensive checklist to help you make informed and confident decisions in your property investment journey.
Essential Questions to Ask Before Your Next Property Purchase
● Does this property fit into my long-term investment strategy?
o Ensuring that the property aligns with your long-term financial goals and risk profile is essential for sustained success in property investment.
● Have I created a comprehensive investment strategy?
o A documented and proven strategy helps you make informed and confident decisions, reducing the likelihood of costly mistakes.
● What is the true value of the property?
o Understanding the property's value through recent comparable sales and intrinsic values helps set realistic market value thresholds and avoid overpaying.
● What are the current market trends in the area?
o Knowledge of market trends ensures that you are investing in an area with strong growth potential and avoids the pitfalls of investing based on outdated or unreliable data.
● Have I secured pre-approval for finance?
o Pre-approval provides clarity on your budget, strengthens your negotiating position, and ensures you can make a firm offer without finance contingencies.
● Do I understand the local area and its growth potential?
o Local expertise is crucial for making informed decisions and understanding factors that can affect the property's value and rental demand.
● Is the property investment grade?
o Not all properties are suitable for investment. Investment-grade properties offer strong capital appreciation, and steady cash flow, and are in high demand.
● What is the cash flow and repayment capacity for this property?
o Understanding cash flow and having a financial buffer is essential to handle unexpected expenses and ensure you can manage the property sustainably.
● What ownership structure is best for this property?
o Choosing the right ownership structure can optimize tax benefits and provide asset protection.
● Have I conducted thorough due diligence on the property?
o Assessing body corporate fees, potential structural issues, and other hidden costs helps avoid surprises and ensures the property is a sound investment.
● Am I approaching this decision as an investor or am I emotionally involved?
o Emotional decisions can lead to poor investments. Staying objective and focusing on the property's financial viability is crucial for long-term success.
Hopefully, after listening to this episode you’ve learned insights and tools you can use to enhance your investment journey and ultimately reach your financial goals. By asking these questions, you can make well-informed decisions that align with your investment goals and mitigate risks in your property investment journey.
Links and Resources:
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Brett Warren - National Director Metropole
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Some of our favourite quotes from the show:
“It’s not as simple as some of the people tell you on social media. You can't buy 10 properties in 10 minutes, but if you have the right strategy, you definitely can outperform the markets .” – Michael Yardney
“I've often said I don't think I've ever bought a bargain. By the way, in today's very informed market, if it looks like a bargain, be very wary .” – Michael Yardney
“Complaining is not for winners in life. You must focus on what you can do, not what you can't do. You must focus on opportunities, not on difficulties.” – Michael Yardney
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