Gain Effective Tips and Tutorials To Help Master Your Own Financial Destiny
Regardless of what property investment avenue you wish to venture into, information and strategy is only 50% of the puzzle. There are more crucial factors that play a role in determining your financial success like mental attitude, emotional fitness, health and energy levels, etc. This can be described as your ‘Wealth Psychology’ or ‘Mindset.' With over 20+ years in business plus countless hours and dollars spent on personal education, Stuart Zadel offers some of the most effective Wealth Education in Australia.
What’s the hottest property strategy in 2018? Well, for me it’s combining quick cosmetic renovations with Airbnb™. You see, everyone knows about it, but few are doing it as a business & I’m predicting this year that’s about to change!
My hottest investment strategies and predictions for 2018… and why now is the time to get educated in these powerful, exciting areas where you can amass a fortune and create financial freedom if you know what you’re doing!
Well hi guys and welcome, this is Stuart Zadel, Happy New Year to you and your family… my wish for you is that this is your best year ever!
So, this is my first video for 2018 and we’re going to be calling it, “What’s Hot In 2018?”
I’m on the Gold Coast at the Commonwealth Games and as you’ll see there’s almost no one here! Most of the businesses are actually doing it tough despite what was predicted beforehand… except those doing Airbnb!
2018 has kicked off with a bang and leading website investors Liz and Matt Raad have two high-value types of websites that they’re firmly focussed on this year to build and grow their online portfolio of assets.
Hi everyone, it’s Matt and Liz Raad here, and what we want to do today is quickly talk about our Top Website Picks for 2018.
In particular, what Liz and I are going to be looking at ourselves, and hopefully you’ll get a great insight into the sites that we love buying!
Stuart Zadel talks about the greatest risk in property investing: you.
When you start out in property, you are your greatest risk. Make no mistake, what you don’t know, will hurt you. Your lack of knowledge, experience and skill is as great as it will ever be.
However, if you are fortunate enough to have or seek out a wise mentor at the beginning, and be smart enough to listen, you’ll hopefully avoid many mistakes for the unwary. Or as I say, ‘you can dodge many bullets’.
I was not so fortunate.
MY PROPERTY INVESTING STORY
My first property I bought in 1994 went well enough. It was a 2-bed, 1-bath, plus car space unit in Cronulla for $152,000. I had just started my gym in Cronulla with my brother, and we lived in this property for a long time. We cosmetically renovated this unit many years later and sold it for $382,000 around 2009.
Not a bad result, all things considered, for my first go.
During that time, around 2001, I also bought my first investment property, two in fact. I bought them brand new, through a slick ‘mum and dad’ property investor ‘club’ that was little more than a two tier marketer in hindsight.
I paid $299,000 each for both of these 2-bedroom, 2-story apartments in Parramatta, off the plan at the time. They ended up being severely negatively-geared, well over-priced and I sold them more than 10 years later for around $307,000.
WHAT I DIDN’T KNOW HURT ME
What I didn’t know, hurt me. I didn’t do my homework. Well, that’s because I didn’t know what homework to do in the first place! I trusted people unworthy of my trust. They even got a $16,000 per property marketing fee to sell them to me. I lost money when I…
… bought them (paid too much)
… held them (rent didn’t cover interest and outgoings)
… sold them (after agent’s commission, marketing fees etc)
Not to mention the opportunity costs over those 10 years!
WHAT I SHOULD HAVE DONE
And you know what, I am so grateful for that experience! It’s one of the main reasons why I do what I do today. And, if I was starting out again, here’s what I would do. I’ll go for:
…lower-priced properties regardless of what I could afford. If I couldn’t afford my own area, I’d shift areas.
…properties at or below the average price for that area.
…established properties in established areas (less risk, more certainty).
…houses, not units (land appreciates, buildings depreciate).
…properties selling below market value (if I couldn’t, I wouldn’t buy).
…properties I could cosmetically renovate at first, structurally renovate later, or in fact, subdivide.
I’d repeat that, over and over again.
When you’re starting out, you are your greatest risk. Do your utmost to eliminate that risk.