What habits do rich and successful property investors share?
Today, we have another summer series episode of my show where I’m interviewed by Tyrone Shum of Property Investory.
Tyrone digs in deep and asks what held me back when I first started investing in property investment.
He also asks me about the rich habits versus the poor habits of property investors and why some are more successful than others.
I explain a bit about the nuts and bolts of my own property investment strategy, and how I add value to property.
I even give some insight into my personal habits that have helped me achieve my goals.
Today’s discussion includes:
- How Michael had a desire and dream to be a successful property investor, but his mindset conditioning would have only got him so far.
- Recognizing the importance of mindset and being mentored by Jim Rohn.
- What held Michael Yardney back when he made his first investment into property.
- Yardney’s personal finance book, Rich Habits Poor Habits, he explains what sets it apart from other books on the market.
- Wealthy people do things and think in a certain way. Money habits include delayed gratification and saving and investing.
- Wealthy people also hang around with other wealthy people.
- How many people have had poor educations around money. People often have bad money habits and don’t know how to get out of the rat race.
- Recognize what is not working and disempowering habits and then replace them one by one with empowering habits.
- The importance of having and being good mentors.
- Coming from a place of abundance and making other people wealthy while making the world a better place.
- Yardney explains the nuts and bolts of his own property investment strategy.
- How investor’s today can be plagued with too much information.
- The importance of looking at what is going on in the future.
- Finding properties with continual strong demand. Population growth and demographics.
- How Metropole strategists come from a financial background and are wealth advisors.
- Yardney’s six-stranded approach to identifying investment grade property to buy.
- How to add value to your portfolio.
- Michael believes in having a useful belief of taking responsibility for his actions and not blame others.
- Learning from mistakes and using those lessons to move foreword.
- Yardney’s personal habits that helped him to achieve his goals.
Links and resources:
- Michael Yardney
- Rich Habits Poor Habits
- Property Update App
- Property Investory
- Jim Rohn
- Wealth Retreat
- Roger Hamilton
- Christopher Howard
- Brian Tracy
Some of our favourite show quotes:
“If you suddenly become wealthy, but your mindset does not grow to your level of wealth you will lose that wealth.” Michael Yardney
“Every year I upscale and upgrade the way I think about things because I want to keep growing.” Michael Yardney
“What average people think and do is very different from what wealthy people think and do.” Michael Yardney
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