[PODCAST] Is Your Investment Property a Money Pit? When It Will Finally Start Paying You! With Stuart Wemyss

In today’s show, we answer one of the questions on almost every property investor's mind: "How long does it take for my investment property to cover its costs?"

We all know property investment is a long-term game, but it’s easy to get frustrated when you’re pouring money into your investment and not seeing immediate returns.

So, how long should we be prepared to wait?

And what can we do to speed up the process?

That’s what I’m going to ask my guest today, independent financial advisor and property expert Stuart Wemyss, director of Prosolution Private Clients.

So, if you’ve ever felt frustrated by the ongoing expenses of your investment property or wondered if you’re on the right track, you won’t want to miss today’s show!

Building wealth through smart choices

From our conversation in today’s episode Stuart and I discuss:

• When an investment property starts covering its costs
  • Importance of remembering that property investment is a long-term strategy
• The significance of acquiring high-quality assets despite initial higher costs and the role of negative gearing
• The interplay between interest rates and tax strategies
  • Focusing on minimizing tax and maximizing returns
• The importance of proactive property management to enhance capital value and rental income
• The necessity of preparing for periods of higher interest rates and building cash flow buffers
• How a well-structured property portfolio provides financial security and choices in retirement
• The parallels between property investing and planting seeds for future growth, emphasizing patience and strategic planning

This episode is packed with expert advice and practical strategies for anyone looking to thrive in property investment.

By adopting a mindset geared towards long-term success and contribution, listeners can take control of their financial future and build a resilient portfolio for lasting financial security.

Links and Resources:

Michael Yardney

Stuart Wemyss – Prosolution Private Clients

Stuart’s Book – Rules of the Lending Game & Investopoly

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Some of our favourite quotes from the show:

“A couple of minutes ago you mentioned about higher yields in the 80s and I remember those well. But I was also happy when my interest rate was below 10%. If it became less than 10%, I thought I was winning.” - Michael Yardney

“Of course, If you set yourself up right, you may never have to pay the capital gains tax because you hold your properties in the long term.” - Michael Yardney

“One of the most powerful things that'll happen when you accept that no one's going to take care of you financially is that you're going to become more motivated to do something.” - Michael Yardney

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