Wealth Creation Through Property In Australia

Wealth Creation Through Property In Australia

  15 Jan 2024

Today I wanted to share my top wealth-creating insights.

One I learned from our premier property training event – our 5-day Wealth Retreat.

You see…

As I start preparing the curriculum for this year’s event that will be held on the Gold Coast in April this year I’ve been reviewing my notes from previous years and spending a lot of time chatting with past attendees of Wealth Retreat.

As I spoke to many of them I was blown away and humbled by the feedback as they explained how Wealth Retreat had changed the way they handle their investments, business, and in fact many aspects of their life and how it was the best event they had ever attended.

Now that’s high praise indeed from people who are already successful property investors, business people, and entrepreneurs, and I don’t take it for granted.

You can find out more about Wealth Retreat 2024 by clicking here.

O.K., here is the first insight …

1. To become financially independent you need to treat your property investments like a business

Over the last few years, it became very obvious to me that those investors who treated their property investments like a business were the ones that managed to develop financial independence from their properties. 

And those that didn’t, seemed to be working for their properties rather than the other way around.

I’m sure you’ve read that most property investors don’t get past their first or second property and that almost half of all property investors sell up in the first 5 years. 

When you speak to them they’ll tell you “property doesn’t work.”

Some investors have a portfolio of negatively geared properties but have to keep supporting their cash flow shortfall.

Others can’t seem to get the funding to get past their second or third property.

And others bought positive cash flow properties but the little cash they get (if any) doesn’t alter their lifestyle.

On the other hand, a small group of Australian investors treats their properties as a business.

They are the CEO of their business and realise that it’s not how much money you make that matters, but how hard that money works for you and how much you keep that matters.

They have a plan including a property plan, a finance plan, a tax plan, and an asset protection plan and are surrounded by a good team of specialists.

If you want to grow your own significant property investment business, one that could one day replace your personal exertion income, then you should really consider joining us at Wealth Retreat 2024.

Because that’s exactly what Wealth Retreat is about.

We give you a blueprint to build your own property investment and then give you a toolbox full of Power Tools to help you build it.

Find out more about Wealth Retreat by clicking here and registering your interest online to find out more or email Jo Fitt [email protected] and she’ll explain everything.

2. Alone you are vulnerable; connected we are strong

It really struck me how easy it is to fall back into old habits and let negative outside influences dramatically impact our mindset and financial results when we are on our own.

Several people, I spoke with candidly shared how they had pulled back and isolated themselves after suffering some investment problems and financing issues over the last few years, and how that isolation cost them so much more.

I can relate to this.

Teamwork

Many investors think they have to do it all themselves or learn it all themselves.

Partly because they think they know better than others or maybe it’s because they are not hanging around the right people – supportive, encouraging people.

And these get harder to find, the more successful you are.

But we cannot be our best selves in isolation from the world.

We need other people.

The key is making sure we’re spending time with people who inspire, empower, and encourage us.

The next two lessons really emphasise this point.

3. Your peer group is contagious

One of the things that struck me on the first night at Wealth Retreat, when we all got together for a special surprise event (the details of which I can’t reveal here, otherwise it would spoil the surprise for the attendees) was how quickly people connected with each other.

Have you ever had that experience? 

Where do you meet a group of people and feel like you’ve known each other for years? 

May I ask you a direct question?

It’s going to be a bit blunt, but I’m not sure how to “finesse” it so here goes:

  • Will your current peer group empower you to reach your deepest dreams goals and your life’s purpose?
  • Will they hold you accountable to a high enough standard or will they let you slip back into your old comfort zone?
  • Will they feed your ideas and give you input to help you overcome challenges you face along the way?
  • Will they support you when you’re having a tough moment?
  • Do they inspire you to keep performing at your highest and best capabilities?

If not, what are you doing about changing that?

It’s ultimately up to you to find and create the peer group that will help you live the life you want to live.

4. After a “Loss” we tend to go back to what we knew

Many of the investors and business people I have spoken with recently have suffered a setback due to the direct or indirect effects of Covid19 last year.

Some in real estate as the value of their properties fell, others in the share market, and some in their businesses. 

And we’ve had some interesting discussions putting this into perspective and clarifying the useful lessons to take from our experiences to help us move forward.

One of the most important insights that I want to share is that when most people suffer a “loss” financially, their natural tendency is to pull back and isolate themselves.

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