My November 2014 Goals & Projects Report

my november 2014 goals & project reportThis month I thought I’d write a detailed report about the progress that I’m making towards some of the goals and projects that I currently have on the go. This is my November Goals/Project Report, which goes over some of the major projects and the progress that I’ve made on them so far.

It’s my hope that you can take away something from this report that will help inspire you to achieve your own goals.

Watch My November Project Report:

My Project Breakdown

I’m now going to go into some of the projects I’m working on in detail and share exactly where I’m at with them. If you enjoy this sort of post be sure to comment below.  I’m even thinking of making this a monthly report including other personal goals too, for 2015.

South Hedland Property Development

DA (Development Approval) approval is now in place.

The existing property has been tenanted at a rate less than initially planned. This has been due to the downturn in the market in WA’s north-west. We are still achieving figures that will meet our projected profits, but on the lower side. Once the new buildings have been completed, we expect there to be an invigorated interest in the area and would like to secure a long term corporate tenant into the new properties.

When the building plans were submitted for approval there was a rejection from Council in regards to how close the bathroom was located to the front of the house. The architect is making some adjustments to the plans to comply with the changes required and then we will go back to the builders to re-quote on the amended designs. The change shouldn’t actually affect the final price very much.

Click here to view this property.

Flynn Street, Churchlands

The kids are moving out!!! This property was purchased for the intention of using it as accommodation for our two children while they were studying in the city. We selected this particular apartment for the following reasons:

  • 6 mins drive from the city centre
  • 7 mins drive to the beach
  • Walking distance to small and major shopping centres
  • Bus stop right outside the door to the city, shops or universities
  • Close to the train station

You can read more about our Flynn St  property in this post.

Our son and daughter in law have decided they’d like to move back to Albany to be closer to the family. I love this idea for two reasons:

  1. We get to have our little grandson living very nearby
  2. The property will now be rented out at full market rent  (our bank account loves this one too!)

There will be a couple of weeks where the property will be empty. Whilst this would not normally be a good idea, we’ve have planned it this way for good reasons.

  1. We are going to stay in the apartment (thus saving accommodation elsewhere) for about 10 days and will save on accommodation costs elsewhere during the peak holiday season. We’ve got a busy social calendar planned in the city for that time.
  2. During our stay we will also be doing some cosmetic renovations to modernize and improve some areas. This will also justify us being able to increase the rent by $145/week.

Having tenants that are not family members will put an end to one of the biggest mistakes we’ve made over the time of having our property portfolio.

In the meantime I have been working on the following things specifically:

  • Securing a new tenant and completing the associated lease agreements and paperwork
  • Ensuring the property is updated to comply with smoke alarm and RCD regulations.
  • Selecting new carpet for all the bedrooms
  • Liaising with the carpet layers in the city to lay the carpet when we are there (Murray has done this actually J )
  • Obtaining quotes from tradies to replace the shower screens in both the bathrooms. The shower screens that are currently in the bathrooms are old and clunky. It’s an ideal time to update these areas.

Sub-Division Joint Venture in Brisbane

This joint venture deal is progressing nicely. It’s a quick ‘in and out’ type of deal. Buy the land, demolish the existing dwelling, sub-divide the land and re-sell both lots.

We obtained a delayed settlement on the original land lot which means the sub-division approval has gone through before we have even paid for the land.

The two new parcels of land are currently being advertised for pre-sale. The intention is to have the new blocks sold and settled on within only a few weeks of actually having settled and paid for the original lot. By doing this our money is outlayed for only a very short period of time before we receive the profits back. If projected sale prices are achieved, our return on investment will be 15%.

Investigating Other Joint Venture Deals

I’ve been in discussion with other investors who are seeking joint venture partners and if we go ahead with any of these I’ll give you details as they come about over the next few months.

I’ve discovered a great resource to create comprehensive legal documents for loan agreements, power of attorneys, partnership agreements and much more. I’ve used Law Depot to create an affordable Loan Agreement I’m considering with a potential joint venture partner and found it to suit my needs nicely for a reasonable price.

Finding Hidden Money

You’d be surprised at how much money you have lying around in your cupboards!! The last week or so I’ve been gathering up all sorts of bits and pieces and have filled our garage ready for a Garage Sale this past weekend.

It’s easy to spend so much energy on the accumulation of ‘stuff’. And yet really…. What for?? I just feel right now I want to get rid of lots of unnecessary ‘stuff’.

Because after all, the meaning of my life is held within the relationships we have and our experiences rather than the accumulation of material items.

I hope to make a few hundred dollars in exchange for my pre-loved goods. This might seem like an insignificant amount of money; and many people couldn’t be bothered doing something like this.

I don’t need to find money for a deposit or anything like that just now, but if I was this would be a great way to boost my bank balance. This is more about letting go of things that no longer serve our family. And, there are lots of other ways to put some extra cash to good use. Especially with Christmas just around the corner……

Remember: you’re trash is another man’s treasure. Note: The Garage Sale produced a great result of almost $400. Sweet smiley

 Final Lessons Learned In November

Some of the biggest lessons learned during November are:

  • I have everything I need to reach my goals within me.       Reach out to people who can help more often. It is wasted energy to try to solve problems yourself when there are others you know who can help.
  • Planning is everything. I’ve made the mistake in the past of thinking that just because I work on our business and property portfolio from home, that it does not have to be run to some kind of schedule. Because I like a ‘freedom’ lifestyle, for a long time I’ve resisted any kind of schedule. I now accept that a planned schedule (that still includes flexibility) will actually mean I get more achieved and I’ll have even more time to do other things I love to do. This will be a big goal for me moving into 2015.
  • Raise your standards!  This is the only way that you change your life.  Stop doing a “good” or “excellent” job.  Instead, do an OUTSTANDING job.  All the rewards goes to those who are truly committed and outstanding.  I’ve let some good daily habits slip and I am incorporating a new morning ritual that I want to follow more often.  I work out daily and want to eat more healthy foods as a default standard that I follow. You must make the habits you want a MUST and not deviate from them.
  • Energy is everything.  When you’re in a high energy state, everything is possible.  You’ll deal with things totally differently than if you are in a low energy state.  For a relationship to be successful, it requires energy.  For any goal to be achieved, it requires energy.  Energy is life.  In low energy states, that’s when you’ll create negativity and suffer from the negative emotions.  It starts with your body and emotions first thing in the morning.
  • Make your vision for your life clear and compelling.  Focus on that vision at least every week, so you know exactly where you are going.  Your vision and purpose for your life is what will continuously drive you and motivate you towards it.

These are some of the biggest lessons that I stand out for me during November.

Overall, I enjoyed putting this November Project Report together and I look forward to doing another one in the future. I’ve found that this public sharing gives you an important ‘behind the scenes’ look at what can be involved to build and maintain a profitable property portfolio so you can ultimately create the life you want to live. Thanks for reading!

Please leave a comment below or let me know any questions you have.  I’d love to hear what you think!

And pop on over to join our conversations each day over on Facebook.

Click Here to Join me on Facebook

Here’s to your success!

Fay McLean

Fear of Buying A House: Feel the Fear and Do It Anyway!

Feel the fear of buying a house

The fear of buying a house as an investment property is one of the scariest feelings ever.

Although now I’m not so sure…..

Why? Because just last weekend I did a tandem skydive with Southern Skydivers where I jumped out of a plane at 14,000 feet and travelled from 0-200km/hour in just 10 seconds, then continued at this speed for a further 50 seconds till we hit 4,000 feet when our parachute finally opened!

Oh yes, I remember the sense of fear really clearly!!

When I first booked my jump several months ago I had all sort of well meaning people telling me different things. Some saying it would be awesome, fabulous and I’d love it. Others keen to share their feelings of fear, sickness, accident statistics and other gory details.

I had to try really hard to block out all this external and conflicting advice to keep my mind focused on doing this one thing that I wanted to do. I am one to enjoy stretching myself out of my comfort zone and doing a skydive has been on my bucket list for a long time. I knew in my heart that if I let other people influence me to back out of jumping, I would always live with regret.

Fear of Buying A House Is Just The Same!

Not everyone has to jump out of a plane to experience a sense of fear. Fear and what we believe is possible or true is one of the most challenging things to overcome as a property investor.

Fear of buying a houseWhy? Because just like I did with my decision to do a skydive, you’ll hear voices in your head telling you how crazy you are. People will tell you things like, “Well don’t go buying interstate.” Or maybe your best friend, spouse or someone who loves you but has never invested into their own future might say something like, “Are you sure? I mean you don’t want to cut back the lifestyle you live now.”


Are you terrified of making a property investment decision??!!

Have you dreamed of having the financial freedom to travel and live your ideal lifestyle? 

The fear of buying a house or trying to make decisions on buying investment property is a scary process because there is SO MUCH you don’t know and people are scared of the unknown.

Every day I meet people who are listening to the little ‘voices’ themselves and others are telling them.  Here are some that I have heard more recently:

  • I don’t know what to do first
  • I’m not smart enough to do that
  • I can’t buy property because I’m too old
  • I’m don’t have enough time
  • It’s too hard to me
  • What if I don’t buy the right house

Years later we often look back with regret at having given in to some of these voices.  There are always moments when it’s easy to use these ‘stories’ as an excuse to give up, not to try or to avoid exploring possibilities.  Staying in a rut, in our comfort zone or doing nothing much is easier than facing your fears, digging in a little deeper and overcoming a challenge.

Thou Shalt Take Risks

Even after you’ve spent more time educating yourself and doing more research it’s not unusual to have fear of buying a house or taking the next step.

When it comes to property investing you can be as cautious as you like or stretch yourself out of your comfort zone and either way – no-one has a crystal ball for what the future of the property market holds.

Regardless of how carefully you do your due diligence or get guidance, no-one can guarantee what results you will ultimately see. At some point, you have to take the leap if you want to reap the rewards that are out there to be had…… just like I had to jump out of that plane on Sunday in order to fulfil a lifelong dream.

A certain amount of risk is a prerequisite for success. So feel the fear and do it anyway, and know that every property investor before you has felt the pang of panic at one time or another.

The trick is to fight the fear with four simple freedom

  1. Research your ideas extensively.
  2. Keep your goals clear.
  3. Invest and re-invest; and
  4. Never be afraid to try new things.

Soon your fear will be replaced by financial fortitude.

Simple mistakes – like failing to do your research or go to the right lender – can halt your progress at best, or at worst cost you thousands of dollars.

I believe the solution to this fear of buying a house is to understand step-by-step the process of investing in property so you know in advance what is likely to happen. Be clear on the purpose for this purchase with how it fits with your bigger goals. Then focusing on just THE NEXT STEP you need to take.

It’s TIME to fight back!

SOW INTO YOUR FUTURE….  do what you have always wanted to do!

I would love to help you design your Profitable Property Portfolio Action Plan!

Thank you so much for your support, and let’s nut it out….. please leave me a comment below on the blog or over on Facebook and tell me – what are your fears about property right now?

Fay McLean Property Investing Support


P.S.  Am I glad I put fear aside and did a skydive?  Well hell yeah!


Being Struck by Investing Information Overload

Ever Felt Like You’ve Been Struck By Investing Information Overload?

investing information overloadOh boy – feeling paralysed with investing information overload happens to the best of us and it’s even worse for those who are new to the idea of property investing.

Information overload happens when you seek to learn about something you want to be more knowledgeable about. You start to seek out information and then…. all of a sudden you have loads of websites you’re reading, every person you speak to has a different opinion on the topic and an inbox full of emails all containing more information.

Now, instead of being eager to proceed with the idea of buying an investment property – you are struck with ‘analysis paralysis’ and can’t seem to take a step forward.

This feeling of overwhelm doesn’t just happen with buying investment properties.

Although I have, and still do sometimes experience the ‘analysis paralysis’, the feeling of information overload was never as great as when I was first learning internet marketing. Boy – that was a time where I had so much information coming at me at once I felt completely overwhelmed.

One of the reasons this investing information overload can happen is because as you gain knowledge on the subject of property investing you soon realize that there is not one size to fit all. No one single investing strategy is right for everyone.

It can become very frustrating to not get a straight answer for all your questions. And as you seek to gather answers to your questions, the amount of knowledge you are exposed to increases more and more.

I have seen analysis paralysis stop many would-be investors from buying fantastic opportunities because they have over-analysed the deal and then talked themselves out of it.

A great example of this is a member recently who was buying a $215,000 property in Queensland. He had done all his due diligence on the property and had all his figures together. Then started to doubt his decision and get information overload after he heard stories in the media and got concerned with information on the percentage of investor loans versus home buyer loans across Australia. Then he bought some magazines and saw different information again. Every which way he turned was a different angle or story and he began to over analyse his figures. Luckily we could coach him through this time of uncertainty so he could move forward and a have a profitable property portfolio.

How Information Overload Can Strangle Your Property Investing Plans

With this information overload hanging like a big cloud overhead, most people back out of buying an investment property because they lack trust in their own judgement. They may have great ideas of what they want; gathered great information and yet still do nothing. As I’ve mentioned before, time in the property market works in your favour. These people who sit and do nothing are the type who continually look back in hindsight complaining about missed opportunities as they see the price of real estate going up and up over time.

We have worked with many clients who are like this. Hesitant, nervous, anxious and confused with all the information they have been receiving. It gives us the greatest buzz to get these members over this hurdle. And that is all it is – just a hurdle. And once they’ve jumped over that it’s great to have them get to the point where they feel confident in their buying decisions.

It’s easy for them to become unstoppable when they have mastered the art of investing with their head and not their heart.

Tips To Overcome Investing Information Overload

1.   If you start of have this feeling of investing information overload, it’s important to have a mentor or someone who is an active property investor themselves. They can help you overcome your analysis paralysis because they will completely understand having the same feelings. You need the support of someone who takes the time to go through information as often and as slowly as you need to feel comfortable. The last thing you want are pushy salesmen or real estate agents who need to meet monthly sales figures.

Having a mentor who will guide you without doing it for you will help to gain confidence and understanding.

2.    Be clear on the strategy you want to focus at the moment for your property investing. It could be positive cashflow, negative gearing, property development, renovation, buy and hold or a combination. Once you know your strategy, then seek out information only relative to that topic and let the rest go for now. It will all be there when and if you need it. If you’re not sure on the right strategy for you this is a good place to start.

3.   Write down or verbalize what is concerning you. Then look for a solution to each point you have listed. Draw a line down the middle of a piece of paper and head one side “Pros” and one side “Cons”. List down all the advantages or benefits to moving forward under the ‘pros’ side. Then list down the worst case scenarios or disadvantages on the other. pros and cons with information overload

That really puts things in perspective, right?

The act of writing down your worst fears can help you look at them from different angles. It allows you to analyze them for validity, and come up with potential solutions.

I find this to be an extremely helpful exercise when I feel “stuck” or have some hit of fear or anxiety associated too much information with a buying decision or project. Even better is to turn to a trusted source – a mentor or community – and ask for feedback. Sometimes a fresh perspective, or a different set of eyes can make a world of difference!

I hope this helps you push through and get past some of the things that have been holding you back, or maybe just slowing you down a bit. You’re not alone. I’ve been through all of this myself at one time or another – and sometimes even still.

Fear associated with investing information overload is often the biggest obstacle and knowledge and action are usually the solution.

If you feel overwhelmed with information and worry about making a mistake it may be because you just need to talk things through. Reach out and ask questions from trusted sources if you feel you feel something is missing. Then take action to achieve your desired result.

[box type=”tick” style=”rounded” border=”full”]Ready to smash through the investing information overload, get over the hurdle, and have an amazing property portfolio running at maximum profit potential?

Schedule a private strategy session, and let me help you personally. Whatever you decide, take action today![/box]

Line of Credit: Important Tips for Managing Your Line of Credit

Important tips for managing your Line of Credit

Line of Credit for Property InvestingManaging the cash flow and allocating appropriate spending in your Line of Credit (LOC) loan is very important, whether it’s for personal or investment purposes.

I would always highly recommend that if you have a Line of Credit set up, that you use it solely for the purpose for which it was originally established. This could be either for personal purposes or for investment purposes.

By correctly establishing the separate loan types into what is personal and investment right from the start, you’ll be able to easily identify which interest expenses are tax deductible.

As soon as you start to pull money in and out of an investment Line of Credit for personal expenses and then repay personal money back in, you start to get into all sorts of mess. And this mess ends up having to be sorted out by your accountant so he is claiming the correct amount against your investment. His extra time and effort will hit your hip pocket in the form of higher fees. So do yourself a favour and stick to the rules on this one!

Line of Credit for Investment Purposes

An investment Line of Credit should be used to invest in assets that appreciate in value. Any properties you buy are a typical example.

You can use your Line of Credit to help meet some of the costs associated with your investments. This will reduce the amount of cash you need to use from your personal savings or regular income.

During any twelve month period there can be large expenses associated with holding your properties such as rates and taxes or an unexpected maintenance issue. Even the lack of a tenant can put stress on your regular income. These are times when it can be useful to have a Line of Credit set up that you can dip into to meet these costs.

Your Line of Credit would also be the account where you deposit your rental income as well as place any tax refund you might get as a result of holding an investment property. Your Line of Credit can also be ‘topped’ up by transferring a set amount of your regular weekly income over to help with the running costs of holding your investment property.

Line of Credit for Personal Purposes

Typically, you would deposit your wages and investment property tax savings into your personal LOC.

However, these investment property tax savings may need to be transferred over to your investment LOC from time to time, to ensure the longevity of your investment LOC.

If you have an LOC set up for personal use, then any interest charged by the banks on this account will not be tax deductible* and will be just like having a credit card bill.

Important things you should know about Line of Credit Loans

Interest will accrue on your LOC and one thing that most borrowers rarely realise is that when interest rates rise and the interest continues to accrue, there will start to be a draining effect on your LOC. If you are not aware of this or you don’t manage it carefully, this situation can quickly bring you to your LOC limit.

You have extra take home pay because of your investment properties. This should not be spent and should be invested back into your line of credit or better still to reduce your bad debt – your home loan.

A Line of Credit requires Discipline!

These types of loans require financial discipline and good budgeting skills to stay within your financial limits. They are a little bit like having access to a credit card with a huge limit.

If you have a LOC set up to help manage your property investments, its rule number one that you must NOT dip into this account for personal spending.

A big mistake many investors make is they see a nice tidy sum of money sitting in a LOC readily accessible and then decide they need a holiday or they want to buy some new expensive ‘toy’. Next minute – boom! The line of credit balance drops and before long they can find themselves having difficulty with the holding costs of their properties and now have no surplus finds to assist.

When a LOC is set up to assist with your property investments it must only be used for that purpose.

Be sure to keep in regular contact with your bank to ensure you are receiving the best interest rate possible. Just this week, for the second week in a row, we have been given a reduction in the interest rate we are paying on some of our loans. I wrote all about it here last week.   I’ve just updated the post to include our most recent reduction.

Line of Credit interest rates

On that note, I’d like to remind you to constantly review your finance structure to be sure it is as optimized for your investing. You can always have a free, no obligation review with the team at eChoice.

*The information in this article is not meant to replace professional advice.

Here’s to your success!

Fay McLean



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How You Can Reduce Your Interest Rate – Today!

reduce your interest rates downReduce Your Interest Rate Down

One of the main purposes of this website is to help you maximize the profits you make from your property investing. And that means sharing with you the things you need to keep a close eye on as they relate to your properties. Things like – how you can reduce your interest rate today!

If you’ve been reading my blog for any length of time, you will know I’m always talking about how important it is to know your numbers. Knowing and understanding where you can continually extract more income from your portfolio is part of your learning journey.

Some people have the attitude that saving or earning an extra $10 or $20 dollars here or there is not important but I’m sure you’ve heard the saying before [quote]“If you take care of the cents, the dollars will take care of themselves.”[/quote]

Let me ask you a question…. If you found a $50 note lying on the pavement without an owner and picked it up – would you think it was your lucky day?

lotto winLoads of people spend a fortune week after week buying lotto tickets just waiting for a win. Imagine if you had a ticket and when you got it checked to see if you had won anything you heard the bells sounding off like they do when there is a winning ticket. The cashier tells you that you’ve just won $600!!! Wow – how cool would that be??

Well, you can get yourself a ‘lucky day’ feeling easier than you think….. all you have to do is make a phone call to your bank. Here’s why…

As savvy investors, we are constantly keeping a check on how to reduce the interest rates for our property loans and requesting they be reviewed.

And so the other week DH (Dear Husband) made a phone call to one of the banks we have a substantial loan with and simply requested a review of our interest rate. And he got jackpoticon_smile

A reduction in our variable rate from 4.95% to 4.85%.

For the level of loans we have with this bank, this equates to a saving for us of $600 per annum.reduce your interest rate

The reduction in the interest rate may not seem like a big thing but if the $600 was a lotto win I doubt there would be anyone that would snub their nose at being excited over that.

The ability to negotiate your interest rates and have them reviewed is a win for you as a savvy investor. It’s an example of how you must constantly ‘work’ your portfolio to gain maximum returns.

Having a portfolio of ‘buy and hold’ type properties doesn’t mean you can forget all about them once you’ve gone past settlement. Investing in real estate is a business all of its own and even if you work at another job, you must make time for your portfolio if you want to maximize your profits.

Three main areas that need regular attention are:

  • Interest rates
  • Maintenance
  • Rent review

In regards to your interest rates, if you have your loans at a variable rate then make a note in your diary to call each bank you have loans with and ask them to reduce your interest rate. Do this at least every twelve months, if not more often.

We make a call like this to our banks regularly. Every time, we get rewarded with a small interest rate drop regardless of where the market rate is.

Unfortunately you don’t have this luxury if you have decided to lock your interest rates into a fixed rate. If you need to check on whether you want to stay at variable rates or lock into fixed rates, it’s a good idea to chat this over with a reliable broker.

Why Is It Important To Reduce Your Interest Rate?

The interest you pay on your property loans is one of the biggest expenses you will incur as a property investor. So it stands to reason that whenever you can get a reduction in what you are paying, you are saving money.

Even if the amount you save is small or if you already have enough to pay for your properties, saving money is important.

Here’s a few reasons why:

1.  Save for an Emergency Cushion

It’s always comforting to have an emergency fund set aside that will cover unexpected expenses for your property portfolio. This could be any number of things; a new oven, replacing or installing air-conditioning, an extended period of time without a tenant or even loss of your job.

2.  Another Deposit for Your Next Property

Every bit of money you can put aside or save will get you to your next deposit even quicker. The quicker you can get into the property market again, the sooner your financial wealth can start to increase, the sooner you’ll be able to live a freedom lifestyle.

3.  You Can Only Spend Your Money Once

Once it’s gone – it’s gone! I believe in abundance and know that money can be made over and over. But it’s a whole lot easier not to spend it unnecessarily in the first place. Regardless of whether funds for your properties are coming from the bank, a joint venture partner or your own funds, everything that is spent on your properties is less you have to spend on something else you would love to be doing. Spend wisely and save madly.

People who regularly save and invest are the ones who end up being wealthy.

Hopefully if you are reading this blog, you are someone who falls into both of those categories. If so, congratulations!! You are on the right track  icon_smile

It is important that you trim your spending and save where you can so that you can really begin moving forward and acquiring wealth.

Today’s action step: Make time in your diary to go and call your bank to request a review to reduce your interest rates.


We did it again!! Another $678 in our pockets.

Have you ever been into a store to buy something and asked the retailer if they could match the price you were quoted for an item you saw down the street? I bet you have. But have you ever thought of doing the same thing with your bank?

Last time I posted telling you how Murray and just negotiated a reduction in the interest rate we are paying on our loans with one bank. Then this week, he went to another bank we also have loans with and told them we had just got a reduction on interest to 4.85% with another bank, and he would like to request they matched it.

To tell you the truth, we really didn’t expect a positive response because our broker had already negotiated a reduction on rates with this same bank only three months ago. But it’s always worth a try.

Well, how pleased were we, when after a day or so thinking about it, the bank came back and said YES!!

Score!! – That means over the past two weeks, we have negotiated a saving of over $1200 per annum in interest payments. That’s money we get to keep in our pockets rather than the banks getting it.

Imagine what it would mean to you if you could save $1200 each year by doing so little. That’s extra money you could put towards further investments, paying school fees or taking a family holiday. Either way – it certainly goes a long way to helping you enjoy a better lifestyle and have more freedom of choice.

Now if you didn’t take action last time – and you don’t take action this time – then perhaps you’ve got more money than sense. Or, you’re not really serious about maximizing your property investments. Seriously – today or tomorrow you’ve got to make the time to put a call into your bank to request your reduction in interest rates.



P.S. Be sure to check back here and comment to let me know what the results you get.

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9 Things Successful Property Investors Won’t Do If They Want to Create a Life of Freedom and Adventure

Freedom and Adventure: Murray and Fay McLean Grand Canyon









Travelling the United States for 5 weeks – Murray and I helicoptering through the Grand Canyon

How did I do this?

What inspired me to become a property investor living a life of freedom and adventure?

Years ago at this time of day, I’d be looking out the kitchen window at the farm paddocks that were suffering from lack of rain and the dusty driveway. I was a farmer’s wife and I worked part time to being in some extra cash so the family could have a few treats.

Now, at this time in amazing Albany on the south-west of Western Australia, I’m sharing my thoughts about continually creating a life of freedom and adventure. I’d never have dreamed this would be my life….in a million years. (And, I’m not done with creating it yet!)

Back at the start of the old farming days I was:

  • Ignorant of the property market’s earning potential
  • Ignorant of the rules of smart investing
  • Ignorant of all things finance and legal
  • Ignorant of personal development

Yet here I am. How?

I became comfortable with being uncomfortable. Forget about all the traditional advice, of having a vision, or desiring a fuller life, or any of that good stuff.

I became comfortable with being nervous, or anxious, or worried….or with being frustrated, or jealous….or with being excited, or elated, or….with hand shaking and my stomach churning each time I found myself in an uncomfortable situation.

Yes, no matter how much you try to avoid these emotions, you need to face, embrace and release them, to create a life of freedom and adventure through smart property investing.

The trick is that managing your emotions is as much about what you won’t do as it is about what you will do.

So, I’ve spent a lot of time looking at the kinds of things that smart property investors are careful to avoid while building a solid property portfolio and living their ideal lifestyle. They consciously avoid these behaviours because they are tempting and easy to fall into if not careful.

They Won’t Let Anyone Limit Their Joy

be happy

Smart property investors don’t allow others to determine their level of happiness. When you seek pleasure and satisfaction by comparing yourself to others, you’re no longer the master of your own happiness. When smart property investors feel good about something that they’ve done, they won’t let anyone’s opinions or accomplishments take that away from them.

You don’t have to compare yourself to others, and you can always receive other people’s opinions as nothing more than a constructive comment. That way, no matter what other people are thinking or doing, your self-worth comes from within.

Regardless of what people think of you at any particular moment, one thing is certain—you’re never as good or bad as they say you are.

They Won’t Forget

Smart property investors are unwilling to be bogged down unnecessarily by others’ mistakes. They will let them go quickly. This doesn’t mean they will forget though. They will remember any wrong doings and protect themselves from being affected in the same way in the future. Learning from mistakes rather than dwelling on them.

They Won’t Die in the Fight

fighting spiritThere are many situations where you would be wise to walk away and conserve your energy for more important matters. But – that doesn’t mean you lie down and give in all the time.

Almost anything you want to happen can happen. Changes in contracts, creative finance strategies, win-win outcomes for all parties involved in a deal can all be a reality if you keep on fighting to see one day after another.

Choose your battles wisely and stand your ground when the time is right

They Won’t Live in the Past

Failure can wear down your self confidence and make it hard to believe you can achieve a better result next time. Most of what people consider as failures are a result of taking risks or trying to achieve something that might not be easy. You can’t live in the past. You can’t allow these valuable experiences to stop you from believing in your ability to succeed.

[quote]Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.”[/quote] – Denis Waitley

They Won’t Dwell on Problems

If you are investing in property – there are going to be problems! To create a life of freedom and adventure you need to be in a good emotional state. When you fixate on the problems that you’re facing, you create and prolong negative emotions and stress, which hinders performance.

When you’re faced with a problem, rather than dwell on it and drain your energy – focus more on how you can find an effective solution. Make strong decisions and then move on.

They Don’t Think They Will Get Rick Quick

There are many successful property investing strategies and each of them have the ability to put profits into your bank account to help you create financial freedom and live your ideal lifestyle. The amount of profit potential from each strategy is different, and usually in line with the risk factor. All of the will take either time, money or energy.

On some property buys you can make great profit, on others less. But sure as night follows day, very few deals will give you a ‘get rich quick’ result. Smart property investors know their numbers, do their due diligence and know there is no such thing as get rich quick.   Sorry if that just burst your bubble 

They Won’t Hang Around Negative People

An earlier post on this topic was so well received, you should read it if you haven’t already

Plenty of people will tell you all about bad new, their problems and wallow in self pity. You must resist joining their pity party! Travis Bradberry, Ph.D. says “People often feel pressure to listen to complainers because they don’t want to be seen as callous or rude, but there’s a fine line between lending a sympathetic ear and getting sucked into their negative emotional spiral.

You can avoid getting drawn in only by setting boundaries and limiting time with these people when necessary. Consider it this way: if there was a person smoking, would you sit there all afternoon inhaling the second-hand smoke? You’d distance yourself, and you should do the same with complainers.

A great way to set limits is to ask complainers how they intend to fix a problem. The complainer will then either quiet down or change the conversation in a more positive direction.”

They Won’t Misjudge Cash Flow

Looking at the numbers that make up a deal initially is good. Buyers fees, agents fees, settlement fees, bank fees along with rates and taxes to name just a few. Knowing these costs upfront and knowing affordability is a must.  misjudge cash flow

The other part of this equation is to take into account a regular amount for maintenance on your property (regardless of its age), and a good allowance for time when there may be no tenant. If you happen to have a property that goes untenanted for a period of 30-45 days or more, your asset can quickly turn into a liability.

These are two types outgoings that smart property investors take into account on every property so they will never get caught short on cash flow unexpectedly.

They Don’t Play Lone Ranger

Smart property investors understand quickly that they don’t know everything! This means they will call on other smart professionals to ride alongside them with guidance. They will build a team of professionals who know their game as it relates to smart property investing. Solicitors, accountants, real estate agents and tradesman to name just a few.

[quote]It is much more rewarding to get to the top of the mountain and share your experience with others than to show up by yourself, exhausted.”[/quote]
-Shandel Slaten

Heck, just look at someone like Dymphna Boholt. She has an incredible history of property investing, and even though she’s got loads of professional expertise herself, the lady has some serious team players around her.

She’s a champ.

The other part of a successful investors’ support crew will be networking with like minded individuals who are supportive of their goals; other investors to bounce ideas off and get feedback from. They will have people who keep them on the ball and give them a kick in the butt when they need it.

The Secret Sauce

Being a smart property investor has lots to do with the properties and the numbers for sure. But the secret sauce that brings it all together is what’s going on in your mind. I’m constantly working on several of these pointers I’ve mentioned all the time. After all, you don’t just ‘get done’ with this sort of stuff.

I hope this post reminded you of a few areas that could need working on for you too

Your Turn

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Share this post on all of your social networks if you found it to be useful.

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To all of my professional property investors, what tips would you add to this list?

Are you struggling to become a smart property investor?

What do you need to change so you can create a life of freedom and adventure?

Here’s to your success!

Lie Down With Dogs and You May Wake Up With Fleas

BlogBackgroundIt is commonly said that you are a reflection of the 5 people that you most commonly associate with.

Take a look around you and you will most likely see what I mean.

When you are wanting to be make change in your personal or business life, or your financial situation, it is critical that you immerse yourself in an environment that will support your new intentions.

You see, who you allow into your space governs the levels of success you’ll receive. I was reminded of the importance of association last weekend when we had the pleasure of a friend stay with us. She is a motivated, forward thinking, take no rubbish, kinda girl. While she was in our immediate space, everyone lifted their game. No excuses were allowed, attitude heightened, intentions were set and achieved. The more you associate with incredible people like this, the better you will play your own game of life.

Be careful not to let yourself slip into spending more time than you need with people who have little else to do than complain about how bad the economy is, or how sorry they are feeling for themselves. 

Don’t get me wrong, being able to listen and being a good friend is important too; just be aware of your own needs and strive to be amongst those who support you in those and lift you up, rather than those who are keen to drag you down, because for sure, you fill find plenty of them about.

Association is a two-sided coin; it can make or break you, lift you up or throw you down – it’s your decision.

Some of the best advice an old friend gave me once.  He said…
[quote] Only listen to the people who are where you want to be.”[/quote]

That’s why I commit a lot of time and money to continuing self education and building relationships with other property investors and entrepreneurs.  The main reason Murray and I spent 5 weeks travelling from Mexico across the USA to finish in Miami last year was to hang out with go-getting ambitous people we could learn from as well as spending time doing fun adventurous things like ziplining too – of course!

   Jenny and I playing “Mexican’

Financial freedom allows fun and adventure ziplining

First timers at ziplining across the Mexican canyons – so much fun!

When you start to do property deals, buy interstate or renovate a property it’s easy to feel like you live on another planet. The lingo and language you use is different from most of your family and friends. Different aspects of the economy and community interest you in how they might affect your buying decisions. All of this new learning stands you apart from many friends and family who are non-investors.

It’s important to feel like you belong to a community of like minded individuals. To have a place where you can openly speak your mind, talk about challenges you are facing or be excited about the amount of profit you can make from a property without judgment.

Last year we met like minded people at this event. The property ventures we have entered into as a result of the people we met will return us $74,000 in cash plus continued capital growth. That is how important it is to hang out with the right people!

The event is on again so now YOU have a chance to hang out with all the folks at the event too – who knows where it might lead…..

You can book your spot here if you’re keen and I might see you there! icon_smile

The Most Asked Question: Where To Buy Property?

where to buy property

Where to Buy Property????

Of all the people buying property in Australia at the moment, one in four buyers are looking for investment properties.* Each and every one of them will ask the same priority question – where to buy?????

[box]You’ve heard it said before – “location, location, location”![/box] This old saying is especially true when it comes to buying investment property. If your investment strategy is one of buy and hold in order to achieve capital growth, then your property must be in a location where there is high demand. Demand is directly related to location. So to maximize your profits from property you must buy the best property you can afford in the best possible location.

Here are the steps to follow when choosing a  location to buy property:

Step 1
Learn all you can about the area your looking at. Getting a good sense for what is going on in the area is vital. Get into conversations within the community. Chatting to people like the local corner store, newsagency, local coffee shops will give you loads of ‘insider’ information that can be invaluable. Stop by and spend time with local real estate agents, look through some other home opens and really immerse yourself in understanding all you can about the area.

Use the internet to add to your collection of knowledge of the area.
Sites like and can help you to find the price of properties after they have been sold which is often useful.

Step 2
Look for the ‘ripple’ effect. A ‘ripple’ is the area that is next affected by something else. For example, if you take a beach area that is too expensive to buy into, the ripple effect will be the next suburb out.
Inner city buying has always held good returns for investors and quickly becomes unaffordable. On a map, draw a circle that indicates a 5km radius from the city centre, then focus your attention to the next ‘ripple’. That is, the next 10km out. This will still be a good location to identify potentially great deals.
If dwellers can’t have the ‘cherry on top’, then they will always want the next best thing. And that next best thing is often found in the ‘ripple’ area.

Step 3
Look for well established suburbs. These areas have been lived in for a long time and new pieces of land are extremely hard to find, if not impossible. Land sizes are often bigger and have more potential for development. Facilities and infrastructure are all in place and these suburbs are generally highly sought after as places live. This demand will continue to force pricing upwards.

Step 4
You’ve got to buy a property that is close to facilities and infrastructure. When we bought our unit in Churchlands, Perth these were some of the benefits:

  • 200m from a popular small supermarket, newsagency, postoffice, chemist and takeaway food facility. unit churchlands perth
  • 2 main shopping centres – 1 is 2km distance and 1 is 8km distance
  • Bus route right outside the front door to universities, beaches and city
  • Coffee shops across the road
  • 6 mins drive to the City Centre
  • Primary and Highschool within 5 mins drive
  • Two quality beaches within 6 mins drive
  • Local parkland and walking trails 100m away.

These are the exact facilities and infrastructure that buyers and tenants will be looking for. You want to be able to mark off all of these items against any property you are looking to buy.

Step 5
Consider suburbs that are in your price range. Using the ‘ripple’ effect, you may need to go just outside of a hot spot in order to find properties within your budget. Research street by street because while most of a suburb may be out of your reach, there can always be hidden gems to be found if you look closely enough.

Step 6
Look at suburbs that are going through a rebirth. Strongly consider areas that have older buildings that you notice are starting to be replaced with newer ones, or redevelopment. Use data from sources such as RPData, Suburb Reports: Movers and Faders and the local Council to gain an idea of the demographics of an area and see if you can buy a property that is suitable to renovate to the newer demographics of an area.

Step 7
Councils don’t plan on spending money for roads, rail, sporting complexes or other upgrades if they don’t see the demand for it. Make the local Town Planner your best friend! The local planner will share with you what new infrastructure is planned and this will give you an idea of how quickly the capital growth of an area will happen.

Step 8
Look for where big companies are spending their money. Companies like Dome, supermarket chains, Bunnings, McDonalds and others will only set up shop in areas of high growth.

First the suburb – then the street!
Once you’ve nailed your ideal suburb, then drill down to find great streets. Every suburb will have it’s high and low end areas. Go through the same type of considerations mentioned above to help you decide on an ideal street such as your price range and meeting market demand in relation to the demographics.
Talk, look and most of all listen to what locals have to tell you.

Having struck up a good relationship with local real estate agents, you will often find they will alert you to a good deal even before it gets to the market. Either way, once you reach this stage you’re ready to take the next leap and buy a property.

Your journey has begun – and after this one, I hope there will be many more icon_smile

If you’re still wondering if investing in property is even a good idea at all, you may want to go back and read this article:

* Australia’s largest mortgage broker, AFG

Here’s to your success!

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P.S. Look for support as you make your buying decisions by joining our community here. Click the Join Us Here button below and I’ll be here every step of the way to help you build a portfolio and create freedom and adventure in life.

Does Your Current Day Suit Your Lifestyle Goals?

Living the Ski Bunny Lifestyle

The Ski Bunny Lifestyle on the Slopes of Coronet Peak, New Zealand

Having just returned from a couple of weeks holiday I’m aware of the ability to be in control of how and where I choose to spend my time building our income streams from property.   So many small business owners, 9-5 ‘ers and solopreneurs are held to the restraints of the office or tied to one on one appointments that need to be maintained on a consistent basis, in order to keep the money flowing to pay the bills.

I am so grateful for my lifestyle as I sit in my sunroom doing this short blog, the wind is up and the ocean is choppy. I have a couple of hours working on my blog and property stuff after having spent most of the day so far having fun with our granddaughter.

One thing is for sure, if you want something to come to fruition, you have to set out with the intention right from the start.   Goals, timelines, action steps should all be in place for you to have every chance of achieving your desired outcome.

Here’s a short video I shot for you the morning we got back home….

Your Turn

Now is a great time to decide how you want your investment portfolio to look like for the rest of 2014 and beyond.

Do you want to continue to grind out the 9-5 in the future, or do you want more freedom, more flexibility and a greater passive income?

If you chose the later, then you might need to consider the best investment strategies to achieve the ideal portfolio for your financial goals. One that suits how you want your lifestyle to be.
Reach out to me if you need help with that!

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Share this post with all of your friends if you found it to be valuable.

What is one thing you would like to change about your current lifestyle? Leave your comment below icon_smile

What Dieting And Buying Rental Property Have In Common


What Dieting And Buying Rental Property Have In Common

Could dieting really be anything like buying rental property?  

I’m one of these people who only have to look at food to gain weight. Maybe you’re like that too? In fact, my tendency to gain weight so easily is the main reason I’ve developed a lifetime habit of regularly working out pretty hard for six days of the week.

I’ve just returned from a fabulous holiday to New Zealand where I (abnormally) did no workouts at all except for some days skiing and the usual walking to see attractions. Add to this the fabulous chocolate café we discovered together with the delicious ice-cream in New Zealand – and it’s a recipe for a waistline disaster!!

Back home and the dial on the scales has shot way up and all my clothes are far too snug!

Then it hits me – BOOM – time to take serious action!

You might already be wondering what the heck this has to do with your progress as you work towards buying rental property. Stick with me here for a bit and you’ll see……

So I start to ask myself “Exactly what changes do I want?”

To tone up and lose centimetres from my middle? To drop 5 kilograms? To run a half marathon? These are important questions because unless I can answer specifically, I won’t know the right action to take to achieve my goals.

I’ve decided that my focus needs to be on following a healthy eating plan and avoid the sugars (I love my lollies and icecream!).

So next decision is what ‘diet’ should I follow? Lots of diets to choose from: low carb, sugar free, calorie counting, weight watchers and loads more. It’s important I choose the right nutritional plan. For example, I wouldn’t want to be eating a low carb diet if I expected to be running a half marathon again any time soon.

Now I’ve got my objectives worked out and how I plan on achieving them. But I’ve learnt over the years that I get the best results when I have some sort of support or accountability. I know I’m going to need help. And asking for help will mean I’ll reach my goals a lot faster too.

I love taking sessions with a personal trainer or joining group classes at the gym for motivation and inspiration. I’ve already pulled out some editions of the fitness magazines I’ve got to help me design a variety of workouts and I was back cycling with the group this morning even though it was only 1 degree outside. But – sometimes you will find there is a little bit of pain associated with getting the results you are after icon_smile

It’s going to be so much easier to have the support of other people around me.

You can probably start to see the similarities coming through here now because you will go through exactly the same decision making process at some time during your investment journey.

Buying Rental Property Can Change Your Life

There will be a moment when you finally make and commit to your decision to take some serious action.

For me, that moment was when Murray and I looked desperately at our property spreadsheeet. And saw for one time too often, the figure of almost $70,000 it was costing us to hold our negatively geared property portfolio.

Thankfully, we were finally jolted into action and knew that serious steps needed to be taken to turn the situation around.

bigproblemPerhaps for you it’s the day you finish work so late or feel frustrated and ‘snap’ to the decision that you are going to change your financial situation. You recognize that serious action needs to be taken to change your circumstances.

Once that decision has been made you also need to decide exactly what results you actually want to achieve. Do you want to create a passive income of $100,000 per year? Do you simply want to have access to an additional $5,000 per month? Do you want to pay off your principal place of residence (PPR) first?

Being clear on what results you want will help you decide which investment strategies will work best to achieve your objectives. Becoming involved with property development is quite different to renovating a run down cottage which is quite different again to buying a newer townhouse that is already tenanted.

And all of these strategies will provide different financial returns. So you might start to feel a little confused at this stage. Not sure which way to turn. Maybe you’re unsure exactly what location to buy a property. Perhaps you don’t know how much you could afford to pay for a property.

It’s time to find the trainers, mentors and support groups that can help you with your buying decisions.   Without this kind of support your journey can be a long, slow and painful one.

But when you find a good support crew, turning around even the most difficult situation can be exciting, fun and extremely rewarding. And, you’ll get the results you are after so much quicker too!

Researching, reading books, attending seminars and workshops are all great (and I encourage all of them). But eventually you need to take action.

One of the things that prevent most people from investing in property is fear. But if you look at things realistically, you can see that the process is actually no different to making a decision to go on a diet.

Understanding this will help take some of the fear out of your investing decisions or how you think about buying rental property. After all – no one gets fearful about starting a diet…. Do they?

Taking that next step is sometimes the hardest, and I want you to know I’m here to help you all the way

What about you? What is preventing you from moving forward with your investment plans?

I challenge you to schedule in some time to “take the next step” this week… and let some magic happen.

Leave a comment below with your best method of overcoming your fears, or your experience with this simple creative thinking exercise. I’d love to hear what works for you and/or your experience with “changing your thought process”!

Here’s to your success!

p.s. It can be really helpful to get an outside perspective, to brainstorm with someone else who may add ideas to yours, or to get feedback on your investment plans. I offer creative ideas, creative angles, and new concepts to consider in our regular emails and on our Facebook page. Join us! I’d love to help YOU spark some action plan ideas in your investing journey.

If you prefer one-to-one discussion, the Wealth Building Strategy Call is a great alternative! There are currently a limited number of complimentary call sessions available. To apply for one of these complimentary sessions, click here.

Real Estate Investing Ideas, Tips and Tools To Help You Create More Wealth and Financial Gain