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Podcast Episode 16: 9 Powerful beliefs of the mega successful | I can’t afford an investment grade property yet so I’m buying off the plan

This is a special week for me.

It’s my birthday week and I’m turning 65.  Business People Climbing A Flight Of Stairs, Stepping Up A Stairway Career Ladder With Idea Light Bulb On A Top

Yet I’m still working, and I’m still having fun.

In fact, I’m having more fun than I’ve had in a long time putting these podcasts together.

I’ve had a successful life.

I’ve also had quite a few challenges in my life – many of them self inflicted.

Today, I am going to share with you some of the powerful beliefs of the mega successful people that have inspired me.

Then Ahmad Imam answers a listener’s question – someone who doesn’t have enough money to buy an investment grade property, so she wants to buy off the plan.

He explains why not to do this and what to do instead.

9 Powerful Beliefs of the Mega Successful

  1. They believe in their own abilities and their potential. expert leader
  2. They believe that they are in charge of their lives. They are the pilots of their lives not the passenger.
  3. Strategy is important, but execution is critical. They take action and execute over and over again.
  4. Successful people believe that opportunity is out there and have a mindset of abundance.
  5. The believe that they win through hard work and have the grit and determination to see things through.
  6. They believe that they can make tomorrow a better place. The past can be reviewed, but the future can be made better.
  7. They believe in doing things that no one else wants to do. To be different, you have to act different.
  8. Successful people believe in being the catalyst not the barrier to success. They connect with people they trust and care about and people will be there for them.
  9. They believe in giving back. Giving back is how mega successful people show their gratitude. You can never be wealthy without gratitude.

I Can’t Afford an Investment Grade Property yet, so I’m Buying Off the Plan

  1. Buying off the plan is not a good investment strategy. Table With Plan Tools And Samples Of A Decorator Top
  2. It’s tempting for a beginning investor looking at the glossy brochure with depreciation allowances and rental guarantees that make you feel like a professional investor with a $10,000 discount.
  3. There are too many people with their fingers in the pie. You pay for the developers margin, the sales person’s commission GST and marketing budgets. As a result, you pay more than the true underlying value.
  4. Because there are so many uncertainties, you should be buying at a discount –  not a premium. It is also a risk for the banks so they won’t lend as much.
  5. There is a low “land to asset ratio”. You should try to get the highest land to asset ratio possible.
  6. Large developments don’t appeal to owner occupiers. There is a large percentage of overseas investors.

Links and resources:

Quotes:

“Success is based on your actions, but it is your beliefs that determine your actions.” Michael Yardney Success Road

“The big secret for the mega successful getting ahead in all areas of their lives is what they believe.” Michael Yardney

“How you respond to any situation is what allows you to take charge of your own destiny and be successful.” Michael Yardney

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'Podcast Episode 16: 9 Powerful beliefs of the mega successful | I can’t afford an investment grade property yet so I’m buying off the plan' have 2 comments

  1. Avatar for Property Update

    December 17, 2017 @ 5:06 pm Preetha Vijayan

    Really valuable insights, and confirms that I am on the right track! Thank you Michael for all your podcasts and your immense generosity in sharing this so freely. It is priceless advice and I feel so blessed. It really is a godsend! Thanks Preetha

    Reply

    • Avatar for Property Update

      December 17, 2017 @ 10:27 pm Michael Yardney

      Thanks for the kind words Preetha – it comments like this that keep me motived to provide this type of information

      Reply


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