Property Hub - Investment Insights & Inspiration - Get Invested - Part 2: Daniel Walsh on how to retire early and live richer

Episode Date: October 31, 2025

Do you really need 10 properties in 10 years, or could a handful of the right ones buy your freedom faster? In part 2 of this powerful interview from the Get Invest vault, Bushy Martin is joined again by Daniel Walsh - investor, mentor, and founder of Your Property Your Wealth - to challenge the “more doors = more freedom” myth that drives so many investors off course. Daniel unpacks why quality beats quantity, how to build a small, strategic portfolio that funds your lifestyle, and why the key to financial freedom is thinking in decades, not news cycles. Together, Bushy and Daniel explore: Why a calm, cashflow-positive future starts with smart choices up front How a few high-performing properties can replace your income The importance of buffers, loan structures, and sleep-at-night strategies How to avoid the FOMO traps that sabotage long-term growth The mindset shift from collecting keys to creating freedom If you’ve ever wondered whether it’s time to stop chasing more and start living better, this episode will show you how to build a smaller, smarter portfolio that buys you a big life - one that’s truly lived by design. Listen now to discover how less can truly be more - and how patience, planning, and the power of compounding can do the heavy lifting for your future. Connect with Daniel Daniel's education courses: https://ypywmastery.com.au  Find your Freedom Formula Success in property starts with your 'why', and then the 'what' and 'how'. Let me, Bushy Martin, lead you through it! Sign up for my Freedom Formula program. The first session is absolutely free, and it only takes around an hour! Find out more https://bushymartin.com.au/freedom-formula-course Subscribe to Property Hub for free now on your favourite podcast player. Take the next step - connect, engage and get more insights with the Property Hub community at linktr.ee/propertyhubau Get a copy of Bushy's book, Get Invested, for FREE, and find out what it takes for you to invest in living more, working less Get all Property Hub info here linktr.ee/propertyhubau About Get Invested, a Property Hub show Get Invested is the leading weekly podcast for Australians who want to learn how to unlock their full ‘self, health and wealth’ potential. Hosted by Bushy Martin, an award winning property investor, founder, author and media commentator who is recognised as one of Australia’s most trusted experts in property, investment and lifestyle, Get Invested reveals the secrets of the high performers who invest for success in every aspect of their lives and the world around them. Subscribe now on Apple Podcasts, Spotify and YouTube to get every Get Invested episode each week for free. For business enquiries, email [e-mail] omnystudio.com/listener for privacy information.

The most common mistake from a new investor is, and I think it's even for me when I started, is everyone thinks about cash flow and they just think about cash flow to the point that they don't care about capital growth and they're buying properties that are pointless. They'll go to the middle of nowhere. There's no growth drivers. They're not expecting capital growth and that's okay as long as it cash flows. And I think that's the biggest mistake because I've seen it through my portfolio. When a property doesn't grow, it doesn't allow you to get more property. And when a property grows, it allows you to exponentially grow your portfolio. Welcome to Get Invested on the Property Hub podcast channel, the leading weekly show for

Australians who want to learn how to unlock their full self, health, and wealth potential. I'm your host, Bushy Martin, and each week I go deep with the best investors, experts, leaders, and founders to find out what it takes to break free from the grind, discover freedom and to live by design. Subscribe now and join me and get invested in the life that you really want. Let's get started. Hi Freighted Fighters, let me open with two quick ones. Do you really need 10 properties in 10 years? And will chasing yield today ever replace your income tomorrow? As I've mentioned recently, during my personal self-help world retreat. We're blending new conversations, bush banter soliloquies and

rolled gold revisits so you keep getting timeless principles that actually work while I continue to refresh and regenerate the show. So today we're re-airing part two of my great convo with your fan favourite Daniel Walsh where we bust the myth that more doors means more freedom and to set the scene here's some questions I'd like you to think about. If more doors don't automatically mean more freedom, then what does? What if the bigger game isn't how many, but which ones, how they work together, and how long you let them run? What if calm cash flow comes from quiet choices that you make up front, not from chasing noise after the fact? What if the biggest wins arrive when you stop trying to sprint through this decade and start letting the next one work for you?

and do you ever catch yourself asking how few properties could do it for me am i building a portfolio or just collecting keys do i really need to fix this or is the smartest move to sit still and let compounding do the heavy lifting so lean in and let daniel give you the answers because he's about to unpack what quality what sorry why quality beats quality for real world rewildment how a well-chosen handful of high-growth assets can fund your future, how to structure your loans and buffers so you sleep easy at night, how to avoid the FOMO traps that blow up portfolios, and how to think in decades, not new cycles.

Because somewhere between less invest, between patience and progress, there's a path that trades vanity metrics for freedom metrics, which means a small portfolio, a big life, and the courage to let time be your teammate. Are you ready? Well, let's get invested. Hi, Freedom Fighters. Do you want to retire younger or richer? And if so, how? And if property's your thing, then how many properties do you need to own to retire comfortably? Does it mean acquiring 30 properties by the time you're 30 or owning 10 properties in 10 years, or any of the other ridiculous FOMO-creating clickbait headlines, podcast titles, and YouTube videos that feed into the Insta-everything myth that bigger and faster

and flashier means better, and that only the self-proclaimed rag-to-riches and overnight legends in their own lunchtimes can actually do it, and only they have the secret sauce that you need to pay them big money for in order to follow in their footsteps, or you're just never going to get there and you're just not good enough. This macho stuff really makes me sick and for me these are all just examples of the old Monty Python biggest dickest disease because the number of properties you own isn't what it's about at all. So rather than chase bigger better faster it's more about asking yourself fundamental questions like how much residual income do you need to free up your time so you can live the way you want? And when do you want to be in that position?

And thirdly, what's the required quality and performance of the investment assets that you need that's going to get yourself there? It's a bit like the old business quote that turnover is vanity, profit is sanity, and cash is reality. Endless multiples of properties can often mean more management headaches, more time required, more potential risks, and much more stress. And they can easily become a house of cards that tumble to the table at the slightest touch. So instead for me it's always about quality and not quantity. In order to answer the ultimate question that you need to be crystal clear on, how much is enough for you to live your ideal life? So if you don't know what your ideal lifestyle looks like in the form of your ideal day, week, month and year in

terms of what you're doing with who, where and when, then you're never going to be able to answer the question of how much is enough for you and then you'll just end up chasing the property pied pipers who'll lead you over the cliff in the never-ending pursuit of money for the sake of money and you'll end up working yourself to death in the process as you keep chasing this moldy money carrot and the mirage of the pot of unattainable gold that's at the end of the unreachable rainbow. To capture this perfectly let me paraphrase the Dalai Lama's famous quote many of us sacrifice their health in order to make money then we sacrifice money to recuperate our health and then we become so anxious about the future that we don't enjoy the present result

being that we don't live in the present or the future and we live as if we're never going to die and then we die having never really lived does this resonate with you i saw firsthand how my great father drove himself to an early grave as his health and his body just fell apart and then never-ending pursuit of wealth for the sake of wealth at the expense of just about everything else. And I also suffered from the same self-delusions before I had my early life crisis in my 30s. It's why I'm now such a strong believer that truly sustainable success lies at the intersection and in the delicate balance of self-health and wealth, or SHW for short, which at baseline is achieved through the combination of what you imagine and think, resulting regular

habits that you create and where you then invest your time and engine money because you need to maintain all three of these self-health wealth triumvirate in harmony in order to achieve sustainable success and freedom in its true form. If you make the mistake of focusing on one at the expense of the others you'll always end up falling short in one aspect or another and any short-term success won't be sustainable. Now while I'm not a big fan of the term retirement because I prefer to see it as rewirement like a caterpillar transforming into a butterfly retiring younger and richer is going to mean different things to each and every one of us for some of you richer might mean having enough cash flow from your investments to work part-time or not to have to

work at all while for others it might mean only a 10 million plus portfolio of assets and creating significant generational wealth for you and your family and for some of you younger might mean be very worrying in your 30s well for others it might mean in your 50s or beyond because there's no one size fits all here it's about your size and situation and what's right for you and yours so it all comes back to how much is enough for you by when in order to support your personal vision and version of financial freedom and sustainable success where you've got the freedom of time and choice to do what you want when you want because if you're not pursuing your own clearly defined purpose goals with passion, then you're merely dancing to someone else's tune and

helping them to achieve theirs. And if property is your preferred investment leverage vehicle to help you get there, then unlike many other self-proclaimed instant investment gurus and overnight YouTube sensations who brag about their own empires of 20 to 30 properties, as you're about to hear, today's guest and I both believe that securing a smaller number of higher quality growth properties over the long term and then converting them to cash flow is a much more attainable, sustainable, less stress and enjoyable approach for any of you seeking to retire younger and richer on your terms. You see for many hard-working Aussies between three to six high growth cleverly structured properties held for 15 to 20 years or

more is enough to replace your work income. This is the essence of the wealth by stealth approach that I talk about in my book The Freedom Formula so if you'd like to put some shape around your freedom numbers and help you define and achieve your own lifestyle goals feel free to book in with me for a personal solution session on knowhowproperty.com.au. Similarly, and as you're about to hear, the power to create, grow and retain wealth is yours now. And today our returning guest Daniel Walsh is going to help you understand about the key principles that can help you achieve your version of financial success that he's going to unpack from his new book, Six Principles to Retire Younger and Richer. His principles that we're about to deep dive on can assist you formulate

your personal money blueprint and by understanding and implementing each and every one of them you can instigate the necessary financial and mindset changes to start or further optimize your wealth creation journey. As you heard last week Daniel walks his own talk and he's personally utilized these principles that we're about to reveal to go from earning $34,000 a year as a 19 year old to building an impressive property portfolio that's now worth in excess of $20 million and this allows him to retire now if he wants to but like yours truly Daniel and his wife are on a mission to help you and others to achieve the same and he's doing this through his award-winning buyer's agency Your Property Your Wealth and I can't wait to get a sneak peek at these secret

herbs and spices so welcome back and let's get invested Daniel. Thanks for having me back Bushy mate really enjoyed the read of the book you know as we've discussed off there it's it's not about the step-by-steps, it's the principles that you apply and the person that you become. But I guess just to set the scene for this before we dive into the book, can you share, given your experience over the years, what common mistakes that you see investors making? I think the most common mistake from a new investor is, and I think it's even for me when I started, is everyone thinks about cashflow and they just think about cashflow to the point that they don't care about capital growth. They're buying properties that are pointless

they'll go to the middle of nowhere there's no growth drivers they're not expecting capital growth and that's okay as long as it cash flows um and i think that's the biggest mistake because i've seen it through my portfolio when a property doesn't grow it doesn't allow you to get more property and when a property grows it allows you to exponentially grow your portfolio so i've seen it firsthand where i bought in melbourne uh 2016-17 and and that uh was about a four-ish yield. And I mean, Melbourne's always been lower yielding, but the growth was 60, 70% in two years. But I'd bought in Brisbane a little bit earlier than that. And I didn't receive any growth. And yet the Melbourne property allowed me to go buy two more properties. However, the Brisbane properties

didn't allow me to buy anything. So I think it's important to understand your cash flows. And I think though, it depends on the situation and how much you earn, how much emergency funds. And I think most people don't set up their emergency funds correctly. So they have to think about cashflow more and understand the break even point of a portfolio, right? I think that's one of the biggest things I talk about. What's your break even point? How much you're losing out of the portfolio to how much is it growing by? Because I would rather go buy a property that's going to double in value at five to 10 years than a property that's going to grow by 20% in 10 years. 100%. And you make a really good point. I often talk about the need to go

for growth and then convert to cashflow at the other end of the journey. Because in terms of the average person's borrowing capacity, whether you're buying a cashflow property that has very little growth or a growth property that has bigger potential, you're both going to cap out the similar sort of numbers. And then the sort of positive return you're getting on the rent, you're never going to retire on it won't even touch the sides and i think that's like such a big misunderstanding that if i go for that little bit higher yield that that's going to solve my serviceability issue which is what we talked about the last episode identify the issue the issue isn't serviceability the issue is income it's an income issue now i understand that yes you're

going to get a little bit more income because your rental return is fire but it's not enough to change or flick the needle that much right like i've seen it where somebody gets an extra one percent yield and they're changing the needle by ten twenty thousand dollars in their service ability now you're not going to damage your service ability that much you're more so going to have to make sure on a day-to-day basis you can cope with the cash flow more so yes capital growth is where it's at but then the other mistake that i see people think is because i say that they think go blue chip you have to go blue chip but i don't subscribe to blue chip because everything has time everything has a different cycle uh different states you know grow at

different times and you can buy the most premium property in uh brisbane in 2009 and i wouldn't have grown for the same amount of time as when uh the state kicked off so understanding from a state level what's going to be the best state to grow then drilling down to the best council then drilling down to the best suburb top down scarcity i absolutely totally agree and then make sure the fundamental growth drivers for the future potential of the property are there not rely too much on rear view historic data that's telling you what's already happened not what's about to happen no i'd love that that's the problem with data too you've got to be careful with data data is rear vision it's looking behind and people are now we're seeing a lot more of it now in our space

where people are like data ai this and that and the problem is for one the person that reads the data is going to be interpretational of what it's going to mean totally you could you could look at any area at any area looks good if you look at data and interpret it in the way you want to perceive that data so it always comes down to this way i always say i oversee data but my experience in my 15 years of investing is what i rely on and then i back it up with data and i go okay now i understand what should happen however i would be more likely to look at my experience over the data because the data is just revision you know trending and you can only see short-term stuff with data you can see short to medium you know because you can look at inventory levels you can

look at days on market vacancy ratio you do all that sort of stuff but that's not showing you long-term 100 and and you can get into the the mistake of confirmation bias where you self-justify your own preconceived ideas on by by extrapolating on what the data is supposed to be saying and sadly and and you you would see a lot of this amongst other buyers agents in the game i'm sure daniel uh that that produce kilos of data points uh to justify why they're suggesting a particular property often not for the right reasons and i i think there's a danger in the buyer's agency space in particular where the really good good players and the good operators in that space are being clouded by a lot of these johnny come lately's who've been in the game for

five minutes and got a four-day certificate to say they're a buyer's agent and then then they're just downloading as much data as they can to to put together a cut and paste report but but chucks under someone's face to say, you need to buy this property. And I don't want to go off in too much of a tangent, but I'm a little bit concerned around what that's doing for the reputation and the perception of the buyer's agency and making it much harder for the good operators who've been there for a long time to really understand what drives the market and where the opportunities are. So any comments on that before we jump into the book? I totally agree with you. I think that people are using data now. And like I said, the problem is

some of these people that are interpreting the data haven't been investors for 20 years they haven't seen multiple cycles they don't understand and then a lot of the time they're getting the data off somebody else and relying on them now the problem that i see is there is so many different data points that you can collect right i can go to rp data for example and collect their data and then i could over cross that with um sqm research i could over across that with domain in real estate data yeah if i just go to a simple thing and look at days on market days on market from rp data are wildly different to domain and realestate.com and sqm and everywhere else so what do you want to pick as the right data right um that's also hard right you got to make

sure that your data is correct as well because if it's not then you're just looking at something that you go well we're taking a stab in the dark and i think um it was what i was you know we talked actually off air about it um where people are getting into the space without having the runs on the board and they're coming in with such confidence because they feel like they're backed by data but really what they're doing is just regurgitating somebody else's information and then they've got so much confidence because they don't know what they don't know yeah exactly yes that's the dangerous part right very confidence you don't know what you don't know whereas the person that has been through 10 15 20 years of investing he questions himself he thinks

to himself i need to understand everything but i also need to make sure that i'm not all i need to understand i'm not always correct right and understand and question myself whereas the the person that can't they can't question themselves they don't have any basis to question themselves on they've got no knowledge to question themselves on yeah and and the i think the the lining exercise there is that uh particularly in the current market a lot of people have banking on the best case my view is always bank on the worst case so you'd plan for the worst and then expect the best and if the worst case is still going to stack up you're okay if it's not then it's perhaps time to start looking at something else somewhere else and be careful of these guys

out there saying guaranteed returns guaranteed nothing's guaranteed uh i've seen it in a company that was selling off the plan stuff back he was one of my largest let's say competitors back in the day which i said to him he was a property sugar anyway he's bankrupt now yeah um and i think he took 22 million dollars worth of investor money so you've got to be careful because every and he was saying 50 guaranteed returns 50 guaranteed how do you guarantee something you don't know and then how do you guarantee something for one you always will guarantee something until the entity is no longer around right so exactly everyone's going to guarantee try and get the money out of them yeah and you know the classic is the old rental

guarantees that were all right about 10 years ago yeah and and you knew damn well that if if if they're able to guarantee your rent then you're probably paying too much for the property anyway because there's enough there's enough money in it for them to be able to do that so we guarantee the rents an extra hundred dollars a week compared to the actual market because then it makes the investment look even better but then they can't get that rent ever again exactly right geez you're setting yourself up to fail yeah absolutely spot on well we can have a whole session just on that i reckon daniel we we might do that at some point down the track but i really want to dive into the book because the you know as i said in the intro it's it's all about the principles and and becoming

who you need to be and thinking like that person that's ultimately going to get you to where you are so uh just to sort of start on that exercise in terms of six principles to retire younger and earlier let's start by getting you to tell us why did you write it what are some of the key messages and who is it actually best suited for yeah i mean why i wrote it was uh the story was i was actually camping at the time of christmas and um my wife decided to go for a breakfast which is dangerous because she's leaving me out to my own devices on holidays so i decided to do what i do best which is think about something i'm going to do which is a project and i did and she came back about three hours later and i'm like i've written a quarter of the book and then i realized that it

was not going to be easy to write the next three quarters of that book um and it took me two years to write it fully obviously you got a lot of things going on and i even had my business mentor saying just scratch the book don't worry about it like it's not really worth it but for me it was worth it and i said to me the difference is it's it's worth it for me because it is a legacy thing if i don't do this anymore if one day i don't do it and i've always said from the very start of me starting a career in investing the moment i don't enjoy it i will move on and that is you know something that as you acquire more wealth you more so rely on that because then you go don't do something that makes you unhappy uh just you know go to go to the next thing as i guess so i wanted

to write something while i had that passion behind it why i thought i could help somebody behind this and the book was mainly because i could see a lot of people really wanting to know how to invest in property but they were wanting to know the results side of stuff right like where should i buy what what should I buy? Where should I buy it? They're trying to play the finals instead of actually doing the work to get to the finals. You're going to go play a game of soccer. You don't just tell your coach, you know what, if we get to the finals, I'll play the final game. You say, no, I'll train all year to see if we can get to the finals. That's what the book is about. It's not necessarily about property. It's about what you have to do, the work you have to do to be able

to become the person you want to be to be able to become wealthy because there's a transition that you need to have if you're not wealthy then you need to transition the identity of yourself to become wealthy right because if you're not wealthy i guarantee you subconsciously you do not believe that you should even be wealthy which is why most people spend all their money they get rid of it they don't even know why they go buy new things all the time and it's because they don't even believe that they they should be wealthy right we see it in that lottery we see people that win all this money and then three years later it's gone why when you sit down and you actually speak to a lot of those people they say you know i was the worst three years of my

life having that money right everyone came at me i had my my cousins i had my my family after me for the money i um i felt guilty for having the money i i i just wanted to get rid of it i actually feel better now without it right um it's funny it's i know mike tyson even said when he lost all his money he went to jail he felt better than when he had all the money and that's because you have to become the person that identifies that the money isn't them right but you have to change the personality type and the habits and rituals to be able to calm that person and embody that person so you know it's about changing the identity of someone yeah i love it it's the it's the the start and the end point really as far as that goes so i'd said breaking that down

a little bit then that can you you know i'm going to test your memory a bit here because it's probably been a while since you've written the book but can you give us a bit of a dot point summary of what the six principles are and then i'm going to dive into each of them progressively to expand on that yeah well i mean the first principle is about building generational wealth so talk about building generational wealth um we then talk about the second principle which is um creating money mindset so that talks about the identity is what we'll sort of talking about what identity change do you need to have to be able to come the person that you want to be master consistency and maximize your time um consistency and persistence is the two biggest

things for somebody that is successful which is what we talked about in the last episode where we were saying like yeah um you how were you so focused for so many years and you said that that's a trait that most successful people have the consistency of being persistent mean that you are going to continue to do something even when it's tough even when it's hard right you keep going because you know that the outcome is what you want which is what i talk about your why why do you want it because typically your why becomes the greatest driver to fulfill the mission right and the biggest thing with it is your why should be external it shouldn't be you all right like when i when i talk about my why was my family and how i could get my entire

family and my parents don't work anymore and i retired them and i had that as a big why um if it's external when things get tough you will keep doing it because you are you're not depending on yourself to fulfill you depend you're someone else is depending on you at that point right or something else is depending on you so you draw that um i guess inspiration to keep going so you know that maximize your time obviously was one of them i think that people don't do not value their time and i think that people do not value that they actually have an hourly rate on their time yeah and once you value that you start to look at low level activities that you were doing and think maybe i shouldn't be doing that maybe i should be focusing on becoming the best person i

can be i can then make myself a higher valued person within society and therefore that's going to help change me right change where i'm at my world so that's obviously the next principle um make leverage your superpower that's that's your the next principle so leverage obviously is the you know the the superpower that i've used to be able to create wealth and i think that if you look at it and i we talked about in the last episode i say if you want to maintain wealth you buy a bunch of property if you want to build wealth you leverage and then you buy a bunch of property and that's actually come from a guy called michael saylor he talks about that and he talks about his you know his own house and how it went up like 40 million dollars

and he talks about when you leverage property you're shorting the dollar and you're longing the asset you think the ass you think that the dollar will go down in value so therefore you will create immense wealth as your debt devalues so that talks about the superpower of leverage tax-free income that's a superpower as well i talk about that tolerate and manage risk obviously if you're building wealth you want to be able to tolerate risk and you want to be able to manage risk and understand what the risks are and then create compounding wealth that's kind of your final stages right once you've got all the ingredients how do i create wealth that's compounding forever so that i can pass it on to my children and i think the biggest thing you

should pass on to your children or pass on to family members or whoever you want to pass it on to is not the uh the wealth i think that's one thing but how to control the world if you don't understand the six principles and if you don't yeah hand them to your children they will lose the wealth you build it's why they say by the third generation like 90 odd percent of wealth has disappeared and that's because it gets passed from one generation to the second but not the third yeah kind of just gets filtered out over time and then people just think oh well why did they lose their money well they actually don't have the the principles instilled in them anymore from what it took for the first person in their family to change the their family tree essentially

yeah beautifully said i'm going to dive into aspects of that in a second but i'd love for to talk about because you know the opening chapter of the book talks about how you're able to retire at the tender age at 32 just just draw on drawing those six principles together and just you know without going into chapter and verse because we talked a fair bit about it in the first episode how do those principles uh enable you to be in a position where you could have pulled up stumps at 32 if you wanted to yeah i mean obviously i've built the desired net worth and i always talk about net worth is going to be what you transition into cash flow over time so that's allowed me allowed me to do it um i think the person you have to become to be able to understand

how to do it right this is the this is the problem i actually see people i've sat down with people that i go you have the net worth to retire you just don't have the knowledge right because people just think oh one day it'll just appear it just doesn't appear right like i've seen people that have like a five million dollar house they own it outright like you just do this this and this and you can retire now and they're like oh i didn't realize i could do that so it's so for me it's that like i said knowledge is power it is it's what you need once you have the knowledge you can then understand how do you interpret what you've built to be able to retire and what does it look like for you and i think it changes for everyone right like i've seen

somebody that's in mossman uh sydney that's sydney and they're in a 10 million house they own it outright they can't retire because they don't want to sell down um and they're like 55 and you know then i can see someone else that lives you know in orange and i could give them three million dollars and they could retire it's because at the end of the day one thing is for sure is the hope the house that you live in is once it goes to zero it's the same bill regardless or what it's worth um you know you get a zero interest bill at the end of the day what did you do outside of that to create wealth that's going to replenish the cash flow over time and then how are you going to replenish it 100 and then that's a really good because there's this i talk about

one of the mistakes i think that a lot of aussies make is is the assumption that their house is their biggest asset well it's not an asset at all it's actually a liability because it's costing you money it's not generating uh any uh dollars in your pocket uh and and the fallacy and the and the misguided uh perception that that all my house and my soup is going to be enough lulls them into this false sense of security that they suddenly get that oh shit super moment and their fifties go holy hell i'm stuffed i've got to keep working for another 20 years or or what do i do now so uh you know beautifully said and i guess that transitions nicely into into the next part of the book that talks about why most people, most middle-class people won't

ever be rich. And just put a little bit, and we talked about this again in the last episode a little bit, but put some shape around that for us before we dive into the principles proper. Yeah. Why most middle-class people will never be rich is because most of them focus on their own home. They focus on one house and then they focus on getting rid of that debt. And what they don't realize is what you know they don't realize it until the end and once they get to retirement if you ask those people and i've asked many people that question when they get to retirement who created the most wealth your property that went up in value were you paying it off and most of the time the property went up probably 10 times the amount that they paid off so they they actually

could have just went and bought more properties now if you buy one property and it goes up in value if you want to maintain living in that same area then you're not wealthier you're exactly the same it's just that the dollar loss value and you can't buy anything more you can buy the exact same thing right so if i own a house and the house goes up a million dollars but then the house next door goes up a million dollars i'm not any richer if i want to maintain the area that i live in now i'm only richer if i was to decide to go back to maybe southwest sydney and that house hadn't gone up in value maybe i could then retain some more wealth that way but people just don't realize that when you buy one house you don't get richer if everything goes up in value around you

right or or if we actually not everything goes okay if everything devalues around you well yeah and then the other interesting thing and this is a bit contrarian you probably find this in discussions with people as well because i certainly do and that is that by investing in other properties and using that equity they can actually help themselves pay that non-deductible home loan off years earlier and almost half the time and save themselves hundreds of thousand dollars of interest by securing those growth growth assets in the meantime so this fallacy that i'll pay my home loan off person then i'll invest yeah they're they're burning their valuable time they're not realizing and recognizing the

opportunity that leverage is going to allow them to actually reduce and eliminate that debt a whole lot sooner as well as have a bunch of growth assets that can then fund their their cash flow down the track so yeah beautifully said i was just i think i think as well on that part is people don't understand what money actually is in today's environment money people if i said to you what is money they say oh it's it's what i have in cash it's what my money in my bank account looks like that is money money is not that money is actually credit right it's actually the availability of credit when you understand that that's money then you think oh i don't actually have money we just have the availability of credit right who has the most available credit if we will turn up at an

auction and you have to use your savings to buy the property but i get 5x leverage who wins the auction i do and then what happens when i do it again and again and again the person that was saving money keeps getting wiped out over time because they think that money is protecting them they don't realize that that money is just getting devalued and every time they go to the auction they can buy a lot less every time because as the property goes up in value they're going well now i need double the amount of money to buy the same property so i think that's a false economy of safety is savings. It's not. What you need to do is you need to understand that if I acquire multiple properties and I get a valuable credit to be able to acquire those

properties, how do I make sure I safeguard that available credit that I have to buy those properties? And then how do I watch that credit or the debt that I have on it devalue over time? that makes you super wealthy yeah absolutely and that's the difference and you make this point in the book that uh there's a big difference between playing not to lose versus playing to win because if you're playing not to lose you're in a diminishing situation as as you say as money devalues and the opportunity disappears versus playing to win where you're you're leveraging yourself in a position to continue doing it over time so it's a it's a yeah sadly people of the average perception is because of the fear-driven exercise that surrounds that,

hamstrings and without them even knowing it. So I love that. I now want to start digging into the principles in a bit more detail. And let's start with your definition of generational wealth and what you believe is the best way to actually build that. Yeah, I think generational wealth is assets for one um it doesn't have to be property it just has to be assets in some form yeah and i think that the wealth has to continue to grow bigger than the liabilities that you take on so if you have a certain lifestyle or whatever it is is the lifestyle smaller than the growth of the assets that you obtain um and if that's the case that's financial freedom and that's wealth right that is your wealth because and the same thing with wealth i think wealth comes in multiple forms i don't

think it's just money monetary monetary value obviously can help other things but um i i talk about happy healthy wealthy and abundant are the four pillars right if i'm happy that's the first thing because i don't want to be wealthy without that so first is happy i want to be healthy because again i can't enjoy anything if i'm not healthy then i want to be wealthy and wealth is the first too as well um and then i want to feel abundant the biggest thing is you can have a lot of money and feel scarcity and i tell you what you'll have a multitude of anxieties around that right if you feel like you're going to lose what you have built which is what we're talking about and if you feel like you you're going to lose what you've built then you don't feel like you're winning even if

you are right that's a mental block that you have right so feeling abundant and you can feel abundant because you have a hundred grand in your bank and you and this is why most people hang on to savings because that makes them feel abundant whereas i i feel like that makes me feel scarcity and i feel like once i put it into a property i then relax and feel abundant right whereas most people will then go i've lost my safety my my savings of a hundred grand i put it into debt now i feel scarcity it's opposite way of thinking but i feel the other way around because i knew that my money was going to lose value in the savings and i needed to work for me i had a saying that i put up on my instagram a while ago and i said if you had a hundred year horizon and you put

your money in the bank your savings in the bank you would come out with zero by the end of it if you uh had a hundred year horizon and you put all your money into assets you'd be wealthier beyond measure by the hundred year mark absolutely that's exactly right and that's the thing you know for every day week year that money's sitting in savings you're going backwards so especially when include inflation even i mean i know people go yeah but i can get five percent okay you get five percent then you minus the tax that was on that and then you have to look at the inflation rate off there you're in negative you're going backwards absolutely love that um you know what i'd sort of like to uh expand on that area a little bit i can because you talk in that section

of the book about burner properties uh and it's a it's a term i i haven't heard often and a lot of people won't have heard of it. Can you talk to us about the concept of burner properties and how that relates? Yeah, I think it was a term I just came up with. I had been doing it for a while and the reason for it is I had got the properties and the desired portfolio that I wanted. And then I was like, well, what do I do from here? And I've got to where I need to be. Well, there's two things that I could do, just stop investing, which again, I don't think that's the right move. because if you can continue to build wealth why not yeah um and even if you're building wealth not for you you might be doing for your family someone else yeah but i think you can continue

but burner properties was the mindset of i can make money just by acquiring an asset that i know will grow in value because i can know how to do it properly that within two three years i could just flick it create more money than i put in and then i can pay off debt really easily doing that so when i don't and i was just and the way i was thinking about it was because i was at the point where i'm like i don't really need any more money and i'm like but if i just go buy 10 more properties and they all grow by 100 grand each and i go cool i just made another million dollars right and if they grow by 200 grand i've made another two million dollars this is why the wealthy get wealthier because they have the same same mentality where they're like i have money

that can be put into assets and continue to just grow even if i don't need it um that's what burner properties are so it's like when you get to your desired portfolio if you can continue to add to your portfolio do it with the intention that those properties will get sold to pay down debts so that then you can acquire more passive income yeah i love it love it now i want to move into the really important area of mindset and it's an area that you you talk about quite a bit in the book in terms of how to create the right money mindset i love uh the the little t-par manifestation formula uh that you detail in the book can you run us through that and why you think that's important yeah so i i was thinking about so manifestation is a big thing for me um and i think that you

unless you have a roadmap in your mind yeah and i think nothing comes to reality until it becomes a reality in your own mind and that your subconscious believes it yeah you have to believe it before it becomes it yeah um so the tepper formula basically it's it was my formula to work through all of this right my thoughts so what i'm thinking about will lead to my emotions right it will spike some sort of emotion of what i'm thinking that will lead to the perception of what i think about and then i think then i can create action once i've thought about it and i have a perception on what i want to do i have a certain emotion about why i want to do it i then have the only thing left which is action and most people don't take action because they don't ever go past the thought part they go

thoughts triggers a bit of emotion not going to rationalize anything after that they just sort of just that goes by the way so and they go back to work right so if it was like realizing there is a bit of a formula to get to the result right so if i want to get to my result i need the action right but i need these other things in place first to be able to get to the action um so it was it was a way for me to when i had a mental block to write it down and say what am i trying to do what is that emotion going to spike and then how am i going to do it that's it's very it simplifies it i think well but it better the best things are common sense it's just that people get so buried in the weeds that they don't take a step back and have a look

at okay well let's get back to the fundamentals and and again that's a skill that i think that you bring to the table and successful investors generally do is the ability to simplify chaos into a into a series of fairly easily followable models that go right we just do this this and this and then then we repeat it so i love that the other thing that i love about that section of the book where and it comes back to you know they're developing the mindset becoming the person surrounding yourself uh with with like-minded people because you know the average of those that you're spending time with you talk about high frequency people which i again i think is a is a great way to describe it can you put some shape around that for us and why that's

important yeah i mean i think high frequency can be everyone knows it's like one of those things right when you talk about it you say high frequency it sounds strange but when you walk into a room you you have with other people you have a certain emotion that changes in you yeah biochemically just from being in the room with somebody else if they are let's say they just won the lotto that frequency becomes your frequency because they're all up and amped and like god look what we can do and you know the best emotion we have right they amplify that frequency that makes you feel good but if you get into a room and somebody just died you're probably going to have a different frequency right so your mindset is changed by the frequency of the people

that are around you a high frequency person is typically somebody that's always you know half glass full instead of empty right they're those people that even in tough times can think about the positives they're the ones that um always thinks it's possible right like if i sit in a room and and we've got left and we've got people on the left people on the right and we we sit there and we're having a debate about something and they're just thinking about how you can't do something but you're thinking about how you can do something you're going to be on opposite frequencies totally but if you're both sitting there thinking oh let's create this let's do this and the other person's thinking let's do this let's do that that frequency actually creates

you to have more of a creative output yeah and you start to think of things that you never thought was possible 100 and then with the frequency side of things that can lead to let's say you you know you let's just say for example in the income side of it let's just say that you have uh you know talking to four people with an income of a hundred grand and you're all sitting there talking about how you own a hundred grand that somebody walks into the room and he goes i own a million he's on a different frequency to you he has he is doing different things to earn a million dollars right now if he starts to explain how he does it you start to open up to the possibility of earning a million dollars but before he came into the room it was not possible for you because

You could not understand that frequency. So I think that's very important to surround yourself with those people, people that are better than you. If you're the best person in the room, then unfortunately you're not going to be able to continue to level up. Yeah, beautifully said. The next section of the book, and that's one of your principles, is mastering consistency and maximizing our time.

And I'm totally in agreement with you. it all comes down to the daily and regular consistent happy habits that we develop around turning the thought into a result can you tell us about the importance of success habits and the key habits that investors need to develop to make that happen yeah I mean success habits right is typically what you're going to do on a daily basis the way you think how you operate what your goals are having them written down that's like success habits right um one of mine is you know and then success habits can be also rules so like i've got one of my rules which is no matter what uh if you want to spend something on a liability you can as long as it's less than

10 of your net worth yeah less than 10 of my net worth i can do it guilt-free uh that's a that's a success habit that i have what that means is 90 of my work at all of 90 of my money is working at all times um and it means that i'm not over indulging and then it means that as you grow as a person you grow both ways you grow as in you get to have more things you get to do more experiences but you also are keeping in check and balance what you're what you're spending versus what you actually are who you are um so i think that's that's you know success habits and then obviously it comes down to being consistent and persistent right um if you're trying to create success understanding that consistency over long periods of time of being able to be that person right this

is the thing with it this is the problem that i see is the noise is so loud to drum you or to take you back to being a middle class person you go to work most people are just tired you go to work those people are just like the middle class mindset just keeps creeping back in they keep telling you about how it's not possible how that you know all the doom and gloom everything like that so what you got to be careful of is that you don't create a person that you want to be but then get dragged back into the box of middle class thinking and when i talk about middle i always talk about this when i talk about middle class middle class is not an income no this is the problem mindset reality it's my mindset right yeah we'd be i could be worth a dollar on the

side of the street i'm still the same person here though i still could work out how to get back to where i need to be right but it's a mindset and that's where some people get triggered if they feel like they're in the middle class because of their income it's like no no no that's the difference you can change you can change your income right your income changes when your mindset changes and it naturally happens because income is in proportion to value that's all income is it's just like you're getting value for something right um you've been able to do you look at a billionaire billionaire doesn't get to being a billionaire without giving immense value to the world right they have to if you only gave uh a value to two people in you know your local

neighborhood you probably only make a couple hundred dollars right but if you were able to do that to a you know hundreds of millions of people all around the world guess what you'll become a billionaire by default because you've given the most value in some way yeah so i think that when you look at success habits you have to be consistent you have to be persistent what you do and you have to understand that your identity must change forever yeah and you've got to be consistent because if you aren't you you'll always go back to middle class thinking and i have to continue to learn and myself because if not my upbringing always made me slip back into middle class an old subconscious that's still sitting there on your shoulder going hey daniel yeah

getting a bit big for your boots here mate exactly there's that always that that fear of like you could you know i know mark mark boris said it actually not that long ago when he was talking about he said i'm always fearful i'm going to lose everything yeah and that is from his childhood yeah of course that's all it is right yeah he would be less fearful he was going to lose everything if he met if he grew up wealthy and his parents were wealthy and his parents parents were wealthy because he had no traumatic experience of not having anything yeah it's you you you programmed like i say you program in the first seven years and that's where you have most of your experiences and then from there you're still you know learning but as you go through

most people will make future decisions based on past decisions or past experiences that they've had yeah um which is why there's a saying the best saying i've ever heard from jay-z scared money don't make money right and what he talks about there scared money isn't going to make you money because you are so scared to do anything with it the people that do well in life aren't scared to make the moves they know that they back themselves to go back in and make the moves again if they need to 100 beautifully said that i want to move now to you and we've touched on this a little bit but the uh making leverage your superpower and and and you've touched on this a couple of times during the discussions but i wanted to expand on the power of phantom equity and how best to

leverage that yeah so phantom equity phantom equity is different to equity right equity is when you when you go to work you acquire some money then you go buy a property then you get equity in that property that's equity but when you use that equity to go buy the next property and it grows in value and then you go use that equity to buy another property it becomes phantom equity phantom equity is equity you've never had to work for yeah just it's just money building upon money at that point right so at the start of building wealth you are the driving force to build it yeah and then by the end of you building wealth the wealth that you've built is the driving force to build new wealth so the the phantom equity is you being able to just like push the

snowball down the hill and it just gets bigger and bigger and bigger and then eventually you don't have to keep pushing the snowball down the hill yeah essentially what your phantom equity is um and then obviously that's how you create a means wealth because that's leverage in itself right because what that means is you don't have to keep utilizing your time to be able to keep creating it so you're using the leverage of the the phantom equity to continue to repeat itself which is why i was talking about has to be repeatable um leverage also could be in a different form not to do with money um well in a form of money but it's different right people always think about leverage and they just think about buying property and leveraging debt right that's

how they think of leverage yeah i think about leveraging everything how do i leverage everything my time is how much time do i have in a day that i can utilize how many tasks can i get off me to give to somebody else that is a form of leverage all right if i don't have to mow my lawns because it's fifty dollars for someone else or a hundred dollars to mow the lawns i have to understand can i make more than a hundred dollars if somebody else mows my lawn yes okay cool i don't need to mow my lawns anymore right why am i with them this is where the middle class come back in but if i mow the lawns i save a hundred dollars but you can only save a hundred dollars you can't save more than a hundred dollars but you can make it more exactly so so what i do is i will i was always

the person that was like if somebody can mow my lawn someone can clean my house someone can do this and i but you have to utilize the time you can't just go sit on netflix if i utilize that time to keep learning will the skills that i learn outperform what it's costing me to do those other things so therefore if i make 10 times the amount of money in the same time frame it took someone else to mow the lawn that's good now the thing is if you're mowing your lawn you're not going to get anything out of it ever 10 years from now it's still well guess what i have to mow next week right if they mourn there's not there's no growth in it but if somebody else mows the lawn because i recognize there's no growth in me mowing the lawn and i then take that time to acquire more

growth that i can forever leverage then i am going to continue to be able to grow as a person i love it absolutely love that and and you've probably covered a fair bit of this in what we've just spoken about but the the last section of the book talks about secrets of creating compounding wealth in addition to what we've touched on are there other things that uh you can share that are going to be useful in that regard yeah the secrets are more so around that it's more so around not just thinking about leverage from that one perspective it's thinking about leverage from all perspectives yeah right when you that opens up a possibility for everything right that that means that and this is this is the funny thing um you know if i remember growing up and this is how

it was you know in my family my my dad would be like oh god look at that guy over there not moaning he's like oh look at that guy not doing this or and and it was it was a middle-class mindset you do everything yourself right you feel proud that you can do it you feel proud that and and i started off that way right i remember buying my my second house and renovating it myself yeah and i thought to myself that was the stupidest thing i've ever done because i just utilized all my time and i could have just paid maybe a little bit more more money to get someone else to do it but i'm not going to exhaust myself and it means i can continually repeat what i'm doing because i'm not exhausting myself whereas even the guy that's like i'm a skilled tradesman

i'm a carpenter i can do it it's fine but you will be depleted of energy at one point that you might only do it two or three times and it's a false economy whereas i could do it a hundred times that's spot on and and you get someone else to do it while you're you're generating the income or the wealth that's going to keep building and growing that's that way whereas they're thinking i can do it i'm thinking about how can i become the new person that i need to be so that i don't have to do it that's that's just a different way of thinking and once you think like that and then you start to think why am i why am i doing and that's why i got out of being a tradesman because when i was thinking about i'm like am i is it serving a purpose that i service my own car is

it serving a purpose that i fix my own car there's no purpose in that right that's not going to help me get to the end below i service my car for 20 years it's the same thinking yeah as uh paying off your home loan rather invest it's exactly the same principle that keeps people back as a result love that i and you talked about about that part and then circling right back i'd i and it's it's a great book there's no question it's always about principles it's not about how to it's about the principles that support it uh so definitely a great reader i really enjoyed it i now want to just sort of close on because we haven't touched on this much and that is you know you've you've got a successful buyers agency uh you know your wealth your property and talk to us about what

differentiates your buyers agency from the rest on and what do you specialize in because there'll be a lot of people going, yeah, I like the sounds of what Daniel's talking about. How can he help me to secure the right properties? He's going to get me to where I want to be. Yeah. I mean, I don't ever see myself as a buyer's agency. That's the thing. I guess it's got categorized into that over time. Okay. But for me, I'm just a person that helps you build wealth the same way I've done it. And I give you and pass on the knowledge that I have done through meetings, through strategy sessions, through portfolio reviews, just like this, to be able to change you yourself as a person. So I think that what I do that's unique is I change the person forever

rather than just give them a property. Because if I just make you $200,000, but don't change you as a person, you're not going to ever grow. And the 200 grand is not really going to make that much of a difference in your life. But if I change the perception on how you're going to retire, why you're going to do it, what mentality it takes to do it, the 200,000 is going to be more meaningful because we now can grow on that 200,000. How do we get that 100 to a million? how do we go from there to this right so i think it's a holistic view then secondly is i don't think about property as like people talk about it like property is going to make me money i look at it and think how does the economy how's the economy working to be able to make the money

through property yes it's a different way i think people go i'm going to make i teach you how to make money or i'm going to buy you a property to make money ignoring what actually is creating the the wealth in property what's creating it because what happens if that stops and then that stops they're just over here like i can keep buying your properties if you want them it's like yeah but you've got to recognize is that going to stop so that stops or should i knowing because that is what's happening over it economically in the world what's happening there is going to see an opportunity over here so that's one of the big things so like i talked about that um in many articles uh pre-covered i said i said uh from 2020 onwards is going to be the biggest

inflation decade we see yeah and i said the middle class and i'll be saying this is 2016 17 i did videos on it the middle class will get wiped out because they will think they need to save money when in in fact they should be investing at covert happen everyone went to saving money and i was like invest invest invest the people did they made heaps more money so it wasn't about the property that's the end result it was about why property at that point yeah beautiful and and what we're really saying here and we're actually very similar i mean the the core part of what we started with is is finance broking but but and yes i've got a team of finance brokers that that works in behind the scenes to help very savvy investors to to really leverage their wealth but uh my my

holistic view is is very similar to you it's it's about teaching people to fish rather than giving them fish it's a it's a very different because then they then they can continue to navigate the world on their own feeling far clearer and more comfortable about what they're doing and why they're doing it so uh so again very refreshing to some to talk to someone who doesn't get stuck in their lane i think there's a real danger in property and in most industries now where there's so much specialization they can't see beyond the boundaries of their piece of the jigsaw and there's no one taking a step back saying well this is what the this is what the overall jigsaw is looking like and this is where this jigsaw is heading so if we if we if there's

not a an orchestra leader over the top of the rest of you musicians that that's making that dance then a lot of people can potentially be getting themselves in strife so just on that and again And I'd congratulate you on that because there's very few people who do take that holistic overall approach. But the obvious question now, given that we've been talking about the economy and what's happening and what the influence on property is, before I get into the part two of the ambush round, is what's your read on property current conditions and where they're heading and what does that mean to everyday investors in terms of what they should or shouldn't

be doing? Yeah, so I think from that angle, I think we need to look at it and say, well, what's going to happen? obviously one to five years, right? The hardest thing is always looking at something over a one year horizon, because when you look at a one year horizon, you're expecting the RBA to make the right decision, right? But they don't necessarily make the right decision. However, over a longer time, three to five year horizon, they always have to go back to what the narrative of the economy out but what the what the overall structure of the economy has to do yeah so they can manipulate

short term but they can't get away from the manipulation long term the problem is we're in a society now and we're more global than ever trade and everything like that but we're in a society of any developed nation is just acquiring more debt on the balance sheets and we're not figuring out how do we pay the debts back we're figuring out how do we stop the pain from anyone getting hurt so therefore instead of saying no more spending that's it we're going to be responsible that would probably not get them elected next time around they think how do we cover it up what are we here to cover it up well they want an extra they want more infrastructure they want more health care they want more this and that money yeah and the lure is uh the printing press

they have a printing press around the world everyone all these developed nations have the printing press they go back in and they they devalue currency so the biggest thing is when you look at it is understanding what can they do what measures can they do so short term they can manipulate interest rates that manipulates the cost of money but that is short term right now they then have to adjust interest rates for what the long term will do which means that if interest rates stay relatively high and they stayed like that forever for example we would go into a massive depression right we around the world we would right because the cost did not move and we cannot afford the cost anymore yeah and if they didn't print any more money and the problem is if they

keep printing money they have to pay back the burden how do they do it they keep monetizing this burden and they keep saying let's use new money that we printed to pay back old money which keeps meaning that the debts keep rising so when we look at it from two different angles we look at it from a government angle and then a person right and i look at it as a business i say the government is running a business and we as the people are their employees we have to give them enough money to pay back the debts the problem is around the world is we give them the money they don't have enough money to pay back the debts totally they have a worse situation on their hands longer term about how they're going to pay back the money and how they're not going to default right over time

so what do they do we're just going to keep growing the balance sheet and then we're going to keep devaluing the dollar over time because when they devalue the dollar people don't realize is we're getting ruined for devaluing the people are but it's actually helping the governments because it's devaluing their debts so if they violently devalue their debts the debt burden doesn't seem as bad and then at the same time what happens our wages are rising which means more gdp over time which means they can keep going for longer and longer and longer however we're getting ruined from the other end because assets are going through the roof so what i saw over the last three to four years was a lot of cpi inflation i think that transfers back to asset inflation i

think they end up over the next three years saying oh we've conquered cbi oh geez assets just skyrocketed though why was that well we couldn't build right especially in the housing sector right we don't think people were nervous we're undersupplied we're bringing in immigration like four times the amount of building approvals yeah um the inflation caused a 40 or 30 40 percent increase in costs labor and materials there's no way out of it so what i see is we we all the assets go up in value even if they aren't meant to because the dollar lost value so it's like you're forcing them up in value so the last four years people are a bit confused and they're like why are assets going up in value interest rates rose yeah yeah because inflation is huge right

and inflation means that those scarce assets go up in value it they they aren't meant to they're not going up in value in real terms no no dollar terms exactly dollar terms right and that's why the middle class don't understand it because they just don't understand money they're not going up in real terms and then the dollar is just devaluing over time so we can't get out of this right so there's there's no way out of it the cycle keeps continuing the debts keep rising i do think long term we solve the problem and i actually think we solve the problem through ai and robots so i think ai comes into it see right now what happens is gdp is just continually dropping right we're just we're going in opposite directions what we're outputting as a society compared to the debt

burden that's growing is not equaling right now people say that'll explode but the problem is it won't explode because they can continue that process until they get to the next point that solves the problem yeah and i think the next point by 2030 2035 something around there the problem that gets solved is if we bring ai in ai solves the problem of labor shortages uh productivity yeah productivity goes through the roof yes at that point we think what doesn't what does the new economy look like in 2035 i think more people should be scared of not uh the debt burdens and how the economy could blow up they should be scared of how they're going to have a job by 2035 how they have and and do you have enough real assets to that when you don't have a job you

can rely on them yeah i think that when gdp increases over three years by triple the amount because robots do our jobs and because ai is more efficient than us um we've solved the problem of gdp and we've solved the problem of debt now what it's infinite we just keep growing but what we're doing is we just then go from a uh society in the next 20 years we go from a society of uh middle class to no middle class we go you either on food stamps or you have assets and you're wealthy and you will never jump the barrier anymore unless you're an entrepreneur that can leverage ai and robots yeah how are you going to be able to leverage them though you need the money totally yeah exactly there's a growing chasm there and you're going to be on one side of the other

and and now is the time to be positioning yourself to take advantage of it yeah i'm more scared of that i'm more scared of the ai and robots and how it affects middle-class jobs rather than the debt blowing up in our face because debt is actually devaluing probably on a real terms of 15 a year so what's actually happening is yes debt's increasing but long-term interest rates are climbing so what people used to think 18 interest rates 17 interest rates oh interest rates and go that the world would implode at that point we can't do that no what happens is we now see seven percent as high interest rate six percent as high interest rate yeah exactly so so over time as the debt rises the average interest rate drops yeah to reflect

that yes we can continue to keep the keep kicking the can down the road but at the same time it's why everyone's confused on why assets are going up yeah beautifully said that's a that's a topic that we might peel off into a completely separate session at some stage because I think there's not enough long-term thinking and then working it back to what do we need to be doing today. And because of the short timeframe of election cycles and everything else, there isn't any of that long-term vision that's being applied to it because it works against them to take action.

One of the bigger things, what do you take if you've got the bullet to solve the problem, which is printing presses, and uh you can do that in the shorter term to make sure you get re-elected because the people think you're doing the right thing by them you're always going to take that option no one wants to be the person that and because we are everything comes back to political uh no one wants to be the party that's in power that's that blows up and says we have to do it because it's the hard thing to do but everyone's going to go into a depression that's not going to happen now in in theory 2008 we should still be at a depression since then that should that should have been

minimum a decade depression that we should totally if we look at it what happened we just got manipulated we dropped cost of money we dropped the cost of money yeah we did we printed more and we dropped the cost i mean it's exactly right it's just like you say it's a it's just kicking that can down the road to defer someone's going to have to catch that ball at some point in time someone if people are scared right now because of the debt burden or people are scared because asset prices are high just remember we've now been able to raise interest rates to start the process again right i was more scared when interest rates were zero yeah to me is more about like we're at the lower level we've got no no more room to move exactly what do we do from

here yeah and i'm more when i'm saying i'm more scared at that point i'm more scared because we've got no more room to move gdp's not growing no exactly that that is a bad situation so but we have inflation that we contain through interest rates but we have um interest rates higher we can now drop the cost if we start to have fire on it so this is the next step that i think i think media is going to drum up recession and it may happen it's going to be doom and gloom we're going to see bankrupt and all that that's what's probably going to happen yeah but we can get out of that so easily because we have the manipulation of cost of money you want to stimulate good drop interest rates two percent you'll stimulate right bottom we've got breathing area yeah you have the means

to do it so we're in a better position now that we have the means to do that than we were when interest rates were zero and and the take home from all that uh that that is sort of been sewed through all the conversations if if you're not getting invested now in real assets that are taking advantage of that then you're painting yourself into a corner you're a bit like a frog in a slowly boiling pot you'll be cooked without realizing it without knowing you're not to do anything about it so we're great conversation i now want to switch into the the second ambush fast for uh daniel and start with what's your favorite quote and why um scared money don't make money from jay-z i think that's pretty simple yeah it's a it's a good quote and very

relevant to what we talked about today yeah apart from your book uh what's the top book that you'd recommend we read and why i think again not i wouldn't go property specific um i would go somewhere around like i said just read your rich dad poor dad sort of book if you haven't read books at all i think you would go with that because i'm i'm more of the build the mentality the rest will follow yeah spot on absolutely agree back on the investment piece what's both the worst and the best piece of investment advice that you've ever received worst was pay down debt get you one house of pay down debt and get you over the white picket fence right that probably the worst um the best was that if you acquire more debt and do it safely and you will let debt

devalue over time you'll become super wealthy and i understood that 15 years ago beautiful beautiful not many 15 year olds mate that would have even been contemplating that subject mate so i'm actually going to commend you and your parents for that because you wouldn't have been there if your folks hadn't been talking about it so that's brilliant and final one and again this feeds into everything we've talked about about becoming the person that you need to be what's a personal happy habit rewarding ritual or daily discipline that you employ that's contributed most to your success i have a to-do list and my list is i do it on paper still i mean i'm probably a bit old school in that way but i have i have paper and i have a to-do list of what i'm going to do for the day

i have a to-do list on what i'm going to do for the week i have a to-do list on what i want to do for the quarter and what i want to do for the year and that came from the book traction um and i've always lived by that if you do not write it down you will not achieve it so you write it down and then you break it down yeah yeah beautiful and that and then while you might say it's old fashioned uh what i also know is that physically picking up a pen and writing on a piece of paper is going to inculcate it in your subconscious and your conscious far more than just tapping on a on a keyboard so that there's while it might sound old school the habit of doing that on a daily basis that repetition of doing it is is also building the habit so we'd love that um uh if

there was one final thought that you want to leave with us today what would it be daniel um i think that everyone should be acquiring as much knowledge as possible and they should be working out what time available they have during a week and a day to be able to sit down and sit maybe one hour aside per day to be able to do something that is going to change their life forever and i think that it should not be to do with a job yes yeah great words of wisdom there uh last question really. If I ask you to get invested, what does that mean to you? Get invested means make sure that my money's working for me. Yeah, beautifully said. For those that, like myself, have really resonated with your message, Daniel, how can they find out more and get more involved with you?

Yeah, I mean, I'm pretty active on social media. So if they want to jump onto my Instagram page, which is probably where I'm most active, which is DanielWalsh underscore YPYW, or your property or wealth and you can find that also on facebook you can jump on our podcast yp whatever your podcast and or you can jump on to yp whatever you.com.au which is our website so that will you know obviously you can get on there jump on grab the book yp whatever your mastery as well that's the educational side it's just a different side of our business if you want to get educated that's on there too love it we'll have all of those links in the show notes for those who wanted to take advantage of that uh just finishing on on the book six principles to

retire younger and earlier and richer should i say uh is there a a challenge you'd like to issue for the get invested audience uh to perhaps uh get a copy of your book for taking some action yeah i mean i actually i thought it was um a good challenge i did it last week i've been going into bookstores everywhere i go and just signing off on those books if anyone finds those books we actually are giving them our free course so we give them a free course for it so um we've got two courses you can pick what course you want one of them's like four thousand dollars the other one's three and a half thousand dollars you get a free course for it um so yeah make sure you go into the bookstores anywhere you are to to check them out because i'm just giving little notes if

you see a note screenshot it to me and send it to me on either any social media um and we'll pretty much give you a free course for it beautiful wow that's that the bookstores are gonna love you for that and and i i love you doing that so you've written notes or something had written in the copies of the book on the shelf uh there'll probably be a stampede to uh dimmix and uh and yes we've got one of them found uh one at dimmix actually last week so everywhere we go so now everyone's watching where i go i love that that's that's awesome i love that idea and i guess that That brings us very neatly to the end of another great episode, Daniel. So I want to thank you again for taking the time to refresh us on the key success drivers

detailed in your great book, Six Principles to Retire Younger and Richer, together with all of the learnings from your own journey that you've shared with us over the last couple of episodes. And before we close, I just need to ask everyone listening a big favor that's only going to take a couple of seconds of your time, because currently around about 69% of you that watch the property hub podcast don't subscribe so if you're enjoying and getting value out of the shows and videos following the hours that myself and my support team put into preparing and producing them you can do us a massive favor by just hitting the subscribe button now because it helps the

property hub channel more than you know and i promise you that the bigger the channel gets the better the guests get and the better your investment learnings and results are going to get and to keep the conversation going just join and jump into the property hub collective interactive facebook community by clicking the link in the show notes where we can answer any or all of your personal questions or queries alongside other like-minded hard-working aussies in a very safe learning and no pressure environment so jump on board and thanks again for getting invested daniel thank you thanks for having me thanks for tuning in to get invested on the property hub podcast channel your home for property investment insights and inspiration make sure you subscribe to

Property Hub for free. Get your weekly dose of Get Investing inspiration along with every episode of Realty Talk, Australia's top online property show for red hot property investing news and insights direct from industry leaders and influencers. And finally, I'll see you next time.