[Podcast] What property investors must understand before buying in Brisbane | 5 reasons you’ll always be in debt | Everything happens for a reason

Are you wondering what’s going to be the best performing property market over the next couple of years?   My58a

In today’s show, we’ll talk about where the best performing market will be, what to do and what not to do if you decide to invest there.

In my mindset message I’ll explain why “Everything happens for a reason.”

And you’ll also learn why many Australians are going to remain in debt all of their lives.

What property investors must understand before buying in Brisbane

  • People are starting to return to Brisbane as employment expands 37835969_l
  • Most of the jobs in Brisbane are within a 10-12 kilometer ring, and that’s where people want to settle
  • Brisbane has fewer auctions and more multi-offer scenarios than the southern states
  • Brisbane is prone to flooding and storm water runoff – you need to know what to look for
  • Lifestyle is different in Brisbane, indoor/outdoor living is popular.
  • Brisbane is not Queensland – you can’t just invest anywhere in Queensland

5 reasons you’ll always be in debt

  1. You only make the minimum credit card payment – when you do this, you end up mostly just paying interest, and you don’t make any progress on paying off the principle Debt
  2. You spend too much on holidays – consider avoiding people and situations that tempt you to overspend
  3. You think debt is just a normal part of life – you shouldn’t need to rely on debt just to maintain your lifestyle
  4. You don’t have a contingency fund – emergencies and unexpected expenses will occur. If you have a rainy day fund, you won’t need to rely on credit cards when those situations arise
  5. You allow expenses to rise with your income – make sure that you aren’t adding to your debt by spending more than you need to just because you’re making more

Links and Resources:

Michael Yardney

Metropole

Michael Yardney’s Property Renovations and Development Workshop

Michael Yardney’s Mentorship Program

Brett Warren – Director Metropole Properties Brisbane

Some of our favourite quotes from the show:

“Remember that people come into your life for a reason, for a season, or for a lifetime.” – Michael Yardney  Business People Climbing A Flight Of Stairs, Stepping Up A Stairway Career Ladder With Idea Light Bulb On A Top

“When we’re going through particularly difficult times, it can very comforting to thing that there’s a purpose to this.” – Michael Yardney

“The thing about getting into debt is that anyone can do it. The hard bit, of course, is getting out of debt.” – Michael Yardney

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Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes – it’s your way of passing the message forward to others and saying thank you to me. Here’s how.

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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


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