Property Hub - Investment Insights & Inspiration - Get Invested: Part 3, Invest by design - Strategy-First with Brendan Kelly

Starting point is 00:00:00 The deal of a lifetime comes around about every two weeks. So if you model your thinking on the idea that this deal is delightful, again, go back to the model of put your credit card in a pool of water in the fridge, do your self-questioning and your self-assessment about it, you're emotionally engaged in this, or are we down to pragmatic numbers that is telling us that this is the right thing to do? and if you do that due diligence and you lose it, what's going to happen? Nothing. The world won't implode. The sky's not going to open up. Chicken Little's going to live. It is going to be a scenario of, okay, there will be another one. It might take a couple of weeks to find it,

Starting point is 00:00:47 but there will be another one. And it's likely the other one's going to be better for you because you've done what you do and you have a greater and deeper understanding of the market, a deeper understanding of what you're attempting to do to get out of the property that you purchase, and you make a better buying decision. 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

Starting point is 00:01:27 the life that you really want. Let's get started. Hi Freighter Fighters, is now a good time to invest in property? Now there are always lots of reasons, better known as excuses, to stay out of the market and you could justifiably listen to those and hold off investing indefinitely. Because as the pandemic property petrol burns out and the shockwaves continue to ripple with decreasing intensity, as conditions return to more normal variability between locations, national property conditions continue to be in a state of flux. At the time of this recording, Brisbane, Perth and Adelaide are too hot. Melbourne, Canberra and Hobart are too cold. Darwin is volatile and Sydney somewhere in the middle. So where's the Goldilocks just right in all of this? The truth is that

Starting point is 00:02:16 housing market stability is the price we continue to pay for the influence of monetary and fiscal policy as we navigate our way past the consequences of the pandemic and this volatility is likely to go on for years so locationally variable and out of sync property conditions will keep changing and may change quickly when they do but change creates great opportunity this leaves you with two investment style options at each end of the passive to active investment spectrum at the passive end you can buy when you can afford to hold long term and never sell and then ensure you can manage and afford all the ups and downs along the way so you can actually hold firm success this will come from not overextending yourself in these or any conditions or at the

Starting point is 00:03:05 more active investor end you can learn how to read and work the market by running your investments like a business to make money by skilling yourself up on manufacturing value creation through reno subdivisions developments etc and then riding the waves as growth so that you you're not afraid of the market but are able to embrace unique conditions to make money at any time so if now is always the right time to buy property how do you decide on where to invest and what to invest in when there are over 15,000 odd house locations with around 5,000 of them containing units, creating 20,000 individual property markets that are all behaving differently at the same time? How do you make good property decisions and what information do you use to make

Starting point is 00:03:53 them? And how do you predict what's likely to happen versus what's already happened with property in an area? Do you have a crystal ball or do you close your eyes and buy hope and pray? To be sustainably successful in property, you need to be able to read the tea leaves of property trends so you can give yourself the best chance of buying the right property in the right area, the right price at the right time. And this is never easy to achieve. As I've already touched on, most investors buy a property and then hope and pray that it's going to grow in value using time as the great healer to compensate for any mistakes or they go on the good old gut feel or rely on a red hot tip from a friend or increasingly and concerningly are convinced by the volumes of

Starting point is 00:04:39 confusing post-justifying data produced by high profile overnight sensation and very confident talking buyers agents that make it look like they know exactly what they're talking about as they bury you with heaps of BS in order to pressure you into quick purchase because of a fear of missing out. But in my experience, predicting future property performance has been a very hit and miss mugs game. So there are so many dynamic variables and unforeseen circumstances that influence property conditions and behaviour that it's been almost impossible to predict what's going to happen with any accuracy or confidence. Each and every year, we all hear countless forecasts and gloom and doom predictions of what's going to happen with property prices

Starting point is 00:05:22 and where the hot spots are going to be. And inevitably, the majority of them are wrong and way off the mark, which is reinforced in the old joke that economists and property commentators have predicted 10 out of the last two property downturns. But if you could predict short to medium-term property performance in every suburban town across Australia with a proven 90% accuracy on predicted market direction. Would you be interested? Well, this is where this week's returning guest, Brendan Kelly, comes to your rescue

Starting point is 00:05:53 with his proven property predictions business. Property Predictions is a leading property market research group providing property experts and investors with accurate predictive insights right across the nation. The unique database collects and analyzes the changing relationships

Starting point is 00:06:09 between key statistical indicators, such as prices, sales, listing, asking rents and rental vacancies in suburbs right across Australia, and interprets the intending behaviour of buyers, sellers and investors to predict how, when and where these are likely to affect housing prices or rents in the short to medium term. The database utilises predictive algorithms to provide rent and price change predictions for houses and units in any suburb right across the country. and this enables you to buy in suburbs where prices are set to rise and sell before the

Starting point is 00:06:45 growth stops so that you can make significantly higher returns than those who just hold it in hope. The property predictions database is also able to predict the direction of change in price as well as its likely duration and level of intensity for any suburb and can accurately forecast household unit rental changes up to a year in advance. So if you're wanting to eliminate the guesswork and access Australia's most accurate suburb specific property prediction data so you can make better decisions and achieve superior results then you're going to love our continuing conversation with Brendan Kelly. As you heard last week Brendan's a successful active investor and author who's co-founded the award-winning results mentoring program for

Starting point is 00:07:27 one-on-one mentoring education and enabling of active property investors who have collectively acquired over half a billion dollars in property on their road to financial freight freedom so to get into the nitty-gritties of all this welcome back and let's get invested again Brendan thanks very much that's a pleasure to be here mate we had a awesome conversation in in part one which was a lot of fun but also shared some absolute gold for those that are really serious about property. Sort of to set the scene, I guess, given the amount of time that you've spent in the industry, what's a property investment approach that you think the majority of people get wrong? And we probably touched on this in part one, but it's probably worth

Starting point is 00:08:12 reinforcing. Yeah, yeah. It's when people get started. Most people get started on a circumstance of an event in their life that goes, you know my current path plan a that i'm going down may not get where i needed to be or some change occurs like the birth of a child or the potential uh let's say the death of a parent or you know some event occurs and they go reality check need to shift what do i do um and then there's a they uh my mate who is jono has found himself a property somewhere and we had a great dinner party where he wore a badge on his chest about how good he was being a property owner. Do you know what? Maybe property is the answer. And they have a quick glance at realestate.com.au

Starting point is 00:09:01 and they go, oh, I think I could afford that. And they go, ready, fire, aim. They reckon they're ready. They then, I'll talk to a mortgage broker. Can I get this? Mortgage broker says, yeah, you should be able to buy something for around about 400 or 600 or pick a figure. And they go, okay great great great great great thanks and they feel all empowered and authoritative to be able to then go and buy a property and say she'll be right mate ready bought it and then the big question what do i do with it now and therein lies the big dilemma because there's just no aim and it's it's after the event there is very little you can do uh to generate the profit that you want to generate or to be certain of the outcome that you want so the ready fire arm approach kind

Starting point is 00:09:49 of sets you up for a bit of a a hard start um and and it speaks to exactly what you said in the intro the need to use time to heal the wounds of poorer decisions so people then set themselves up for you know what if i sell now make a loss or if i sell now i'm not going to make any money or if i sell now it's not going to be what i want to be i'll i'm forced to hold it uh or people say don't sell and then i've got to have my my poorly chosen property meander along the path of growth until such time as i can maybe draw down in the future and maybe put some money into the next one and maybe get another one and then that eats into time and opportunity so so ready fire aim for the get for the person getting started is probably what i say where most people get it wrong yeah

Starting point is 00:10:41 i love that i think the uh uh and i'd love your commentary on this uh because uh you know that badge of honor that you the honor that you spoke about with the i'm the prop investor of the dinner party uh look at me yeah yeah a lot of bragging rights around how quickly you've done this whereas to me, if you've done it in a very short space of time, that means you've done zero due diligence, which means you are at the mercy of the market. That to me, the speed of acquisition, unless you've got an exceptional team and you're exceptional at knowing what you're on about, is really setting yourself on a pretty dangerous path. What's your thoughts on the speed to acquire in that scenario. And you spell it out beautifully. Those with little knowledge

Starting point is 00:11:32 need to take more time to buy. Those with significant volumes of knowledge have the ability to be able to read the market very well and choose very accurately, very clearly because of their skill and understanding. Those who are in the middle, obviously, there are shades of gray on this continuum. So those who are just starting out then, the dilemma you face is the pressure to buy now. If you start with a ready firing approach and you go and find something, you go, A, I can afford it. B, the real estate agent's telling me there's many people who want this. And if I don't make the decision, I will lose it. Fear of missing out. I will lose it. And you know what? This is the closest I've come. Do you know how much time I've invested

Starting point is 00:12:19 in looking at this property on realestate.com.au? Do you know how many properties I've had to look at to be able to say, those 10 properties that I had to look at, all that time was lost. I don't want to spend more time looking. I don't want to spend more time searching. And I don't want to missed out on this. I'll just buy it because she'll be right, mate. It's not the way to play. We educate people that... I'm going to put it out there as a thought. 1,110, one. You could look at a thousand properties on realestate.com.au. Find a hundred that you're remotely interested in that are going to serve the purpose that you want and drill down to shortlist of 10 and submit offers to get one that's going to work you have to be seasoned

Starting point is 00:13:12 at your ability to let a house that initial positions put forward as the ideal property you've got to get it got to get it now to just let that go in favor of more due diligence more time there um a famous stuff actually steve mcknight used to say this the deal of a lifetime comes around about every two weeks. So if you model your thinking on the idea that this deal is delightful, again, go back to the model of put your credit card in a pool of water in the fridge, do your self-questioning and your self-assessment about it, you're emotionally engaged in this, or are we down to pragmatic numbers that is telling us that this is the right thing to do and and if you do that due diligence and you lose it what's going to happen

Starting point is 00:14:07 nothing nothing the world won't implode the sky's not going to open up chicken little's going to live you know it it is it is going to be a scenario of okay there will be another one might take a couple of weeks to find it but there will be another one and it's likely the other one's going to be better for you because you've done what you do and you have a greater and deeper understanding of the market a deeper understanding of what you're attempting to do to get out of the property that you purchase, and you make a better buying decision. Don't feel a time pressure because I don't want to look anymore, a time pressure because the amount of time. 1,000, 100, 10, 1. If you haven't looked at 1,000 properties, and if you've looked at 10, you go,

Starting point is 00:14:50 hey, I've got a little way to go. Look, 1,000, 100, 10, 1 is a base model, and you will find you will find the truffle in the forest or the gold in the hills or you the needle in the haystack you will find the one that works for you yeah yeah and one of the things that i'm just sharing one more thought on that one of the things that really comes out of this is real estate agents the best deals the best purchases never actually hit the market they never hit the market you don't find the best ones from realestate.com.au. You don't buy property from real estate. You look at property from real estate, but you don't buy from real estate. It's not a case of click on this link and send my credit card and you own it. It's not the case. Everything must be done

Starting point is 00:15:36 through a real estate agent. So the more you spend time in an area, the more you get familiar with real estate agents. The greater the relationship you have with a real estate agent, the more questions you can ask. You ask the right questions. Can I give you four questions to ask? you mind if i do that no great first question yeah yeah first question is what have you got listed that's not on realestate.com.au you know what's on your books that's not being advertised great what is on your books that has been on your books for a long time and you're about to lose as a listing agreement. So if it's not on the books, because 10% of all purchases never get the market. Think of a 95-year-old person who has to sell down. They are nervous. It is a stage of

Starting point is 00:16:32 life that's risk averse. You know what? I don't want anyone through my house. I don't want anyone touching my belongings. If anyone's going to come through, it's going to be with you. Don't advertise it. Don't put a board out the front. I don't want to let people know. So how do you ever find these things. It's not listed on realestate.com.au. It doesn't exist. You ask, what have you got on the books that is not on realestate.com.au? That opens a door to the 10% that otherwise will never get known about. What have you got at the end of your listing? The end of my listings, it means that the real estate agent is suddenly working with you and against the vendor. Because if they work for the vendor who has said no the whole time, it's not going to

Starting point is 00:17:10 happen so they're going to work with you you can then approach them let me work with you if you want to get the commission this particular purchase what do you think is going to work let's create a scenario together you go and talk to them and see what we can create yeah so next question what have you got that has just been listed but not yet hit realestate.com.au The two-week window, that is the listing agreement, but before it hits the, it goes through the advertising copy and gets to realestate.com.au. You've got two weeks. Photos haven't been taken yet. Copy hasn't been written yet.

Starting point is 00:17:50 It has been listed and everybody in the office knows about it. Yep. Yep. If you can get in at that point and the message you would sell might be, you know what? if i like this place and i buy this place you'll never need to do an open the vendor will never need to spend marketing dollars they will never need to be a brochure they'll never have to do busy open for inspections and kick themselves out yeah it's it's you give me the address of that which you've just listed i'll do a drive by when it works let me submit an author now that that's

Starting point is 00:18:25 the third one the fourth one is who and this is the one where you really need a good relationship with a real estate agent for? Yep. Mr. Real estate agent, who have you just been interviewed by? They haven't yet made a decision who they're going to go with, but you know they want to sell.

Starting point is 00:18:45 If you give me that address, if I do a drive-by of that address, yep, and you've got to give them assurances you're not going to knock on the door directly because that undermines them. If I give you a drive-by of that property, and I like it, you can genuinely go to your vendor and say, I have a buyer that's for you,

Starting point is 00:19:07 you list with me, we'll sell it today. And that constitutes some of the 10% of the properties that will never hit the market. So if you want to get to that, that doesn't happen by, hey, John, listen, never played in your suburb before. Can you tell me what's there for sale? It's a real bargain right now because I need to buy a bargain. They're going to say, uh-huh, look at everything in my window, allow me to assure you it's a bargain. 30 years from now, you'll be really appreciative that you bought it. Yeah. I love it.

Starting point is 00:19:37 Those gold questions you just shared there, Brendan. The one thing I would like you to comment on, though, just to set some context here again, because I think what you've shared is absolutely spot on, but on the flip side, there's a lot of Johnny-come-lately buyers agents out there who are bragging about how many properties they can get off market and quite often they're pretty average properties. They're not all little grannies or divorce couples that want to keep it on the down low. They're untested. I think it smells a little

Starting point is 00:20:18 bit of a lazy sales agent who just wants to get something off the books quick and if he He drops $500 on his commission because he sells it at a different – or he gets a buyer's agent untested to sell at a higher price to an unsuspecting investor who swallows the smoke and mirrors around the whole off-market piece. Now, there are absolute gold questions that you've just suggested that people can really get into some nitty-gritty properties that people aren't going to know about.

Starting point is 00:20:45 But I just would love your thoughts on the whole off-market subject because there are a number of buyers agents who are using this off-market piece as a bit of a smoke and mirrors exercise to convince people to buy properties that are pretty average to say the least. What's your read on that and how would investors go about being able to pick a true off-market property like the one you've just described from something that a buyer's agent, a selling agent you're just trying to sell untested so there are buyers agents that have some integrity there are buyers agents that that just don't so i raise that alarm yeah and it goes to the the i live by a certain ethos trust no one assume nothing check everything and get it in

Starting point is 00:21:35 writing now if you if you have that sort of base approach to get started with then then you're already guarded against the possible risk of being led down a garden path the the trust no one model is if your emotion and again we talked about this last week um if you go down the path of being emotionally engaged in a desperation to pull a trigger to buy a property then then your mind is not in a place such that it's a good decision potentially without without more due diligence Right. So the off-market model, there are a number of ways that a person who's looking to present as an off-market purchase, there are a number of ways it can be done. One way is genuinely. And that's those four questions from a real estate agent. You ask that and they're genuinely there to assist you because you've already built a relationship and there's this understanding and trust that's in place. yeah so that's the genuine another way to do off-market that's genuine is you do your own door knocking or you do your own letterbox dropping or you do your own meeting with the

Starting point is 00:22:45 vendors yeah that's another way that's genuine is direct and it's possible to do that it takes some kahunas but it's possible to do that right the one where where somebody brings you a deal and says it's off-market i promise that's something there's that's where the due diligence on your part is required. Now, again, they might call themselves a buyer's agent. They might call themselves a friend. They might, whatever the case may be. Yeah.

Starting point is 00:23:10 But there are ways that there are skullduggerous ways that that can be done. So I'm going to go into some of those as a thought, if I may. Yes. Some of them is where a person goes to a real estate agent and says, hey, if you bring to me a property that you've just listed but it's not yet on the market if you bring that to me i will put it to the people that i know who are interested in buying

Starting point is 00:23:42 now i get a fee for introducing people to these properties i will give you some commission that I earn for you to give me that detail in advance. But in order for it to make enough money for both of us, let's up the price a bit. And you will put that price in there such that I can make it look like a bargain and you can make it look great to your vendor. so if i promote it at a higher price and tell people that i can buy it for a lesser price

Starting point is 00:24:28 because it's off market and you tell your vendor that you the market condition is is low and then you can sell it high you will look great i will look great the vendor would be wrapped the sale happens quickly the and and if somebody holds it for a period of time and on the market on the idea that market growth will occur everybody will be happy the buyer might be a little bit out of pocket in the short term but you know that's that's that's a short-term thing and if they never sell it's going to be fine and nobody will ever know so there's a skullduggerous way to manipulate numbers in an environment to make it look like the person who is getting you the off-market deal is doing you a favor when in fact they're not and they are managing it so that

Starting point is 00:25:21 they like that everybody's pockets lined and you're out of pocket unless you hold for a long period of time and the market conditions change and that works your way so there's a whole banking and betting and gambling process happening here at your expense how come how come you guys see through that how can buyers see through and it's difficult for first-time investors who don't have the experience or knowledge but not so hard not so hard okay okay when you get communicated to by the person who is showing you their property that they say is off market friend or otherwise um your first objective is to go into realestate.com.au and look at other listings that exist same number of bedrooms same number of bathrooms and go and have a look at what those

Starting point is 00:26:13 asking prices are yeah buy section then get on to realestate.com.au sell section and look at the most recent sales of those properties that are the same number of bedrooms, same number of bathrooms of what you've been offered in a similar condition, and you can tell by the photos that you get, and then have a look at those prices. And if you find that, and it doesn't take long, and I know that there are some people who feel a lot of pressure to say, yes, yes, I'll take it, because there's pressure on them to do that, while they're feeling that pressure, if you can take just 20 minutes to look even at that fundamental basic.

Starting point is 00:26:54 You'll know whether you're in or out of an environment that is there to take advantage of you and a level of desperation to get into something. So that's a base telltale. Then if you've got more latitude and more time, you and I might touch on some more options later in this conversation, I'm sure. So if there's more time,

Starting point is 00:27:16 then you can go into other websites and do some test and measuring on other things that will give you an insight. Yeah, that's a really quick, easy exercise that anyone can do for free and as an insurance policy to make sure that the buyer's agent is actually acting in your interest. It's a great way to benchmark. So I love that. Brendan, before we sort of get into more of the nitty-gritties, you've worked and helped a lot of investors succeed over the years. Yeah. What qualities and character traits do you see in them

Starting point is 00:27:51 that separate them from others? Yeah, diligence, really. It is a commitment to direction. It is a commitment to outcome. um the people who who come to me for support are recognizing that two two fundamental things yeah one is is the path they're on may not get it and two diy can be particularly slow and painful and full of error there's um uh there are two there are two problems with with uh what is it uh thinking about um yeah there are two problems with with trial and error or there's a major

Starting point is 00:28:40 there's a major problem with trial and error what's that error you know it the whole idea of error is it has a significant impact not only in the money that you lose but in the confidence you attach to the decision and your ability to trust yourself to do it right next time yeah it carries a significant impact right so the dilemma you face with diy model and learning along the way is you face the concept of error and and if you do an investment that doesn't work out like you'd hoped and the result is more dramatic than you'd otherwise expected then your confidence is shadow and it really knocks you for six and could take five ten years to get over that before you build the confidence up and do it again yeah so so there's a real problem with DIY the other thing

Starting point is 00:29:28 with DIY is you just don't simply know enough to make a confidence decision in advance but beyond that you don't know where to look to know enough you don't know who to ask to know what to to ask about it's in the world of you don't know that you don't know about yet yeah and and oh sure that's where possibility exists but it's also where risk exists yeah yeah so there's it is the more you can move don't know don't know into don't know that i i know i don't know about the more you can direct your attention but if you're delving that space in a whole new field and you're attempting to be an expert or to build confidence in that whole new field. There is a whole pile of potholes on the road that you don't know are there because

Starting point is 00:30:14 you've got this skinny little flashlight shining into the future when your floodlight's required to see what all the dilemmas are. And therein lies part of the problem. So the people that I work with are people that recognize change is required and differences. If I'm after an outcome, I'm after an outcome that is going to be a significant enough one to make a difference in my life it's not i'm not i'm not toe in water i'm not playing around here i'm not there's a certain amount of dedication commitment to it and the other one is um i recognize that speaking to people who know how to train and educate who know how to impart that knowledge because there are people who are skilled out there who don't know how to tell or impart they really don't know how to teach

Starting point is 00:31:00 they are brilliant at what they do and they just they want you to hang around like a puppy dog and learn what they do just through osmosis and you don't always get that yeah for those who are able to train and support if you can tap into that with the skill behind them then that is a fairly unique proposition for being able to amplify the speed of what you learn how you learn it and your ability to execute and the outcome that you want to achieve so there's a dedication requirement yeah and and the ability of the mentor to be able to read where you're at understand how you learn and to deliver it in a way that is actually getting meaningful and actionable which which is where the results mentoring crew really come to the fore read sort of a as a continuation of

Starting point is 00:31:49 that sort of given the endless array of ways to make money and achieve financial freedom in property that I've spoke about in the intros and all the different tactics that are associated with that. How can investors craft an investment strategy and delivery approach that's best suited to them, given the importance of the strategy piece? Oh, that's a very big question. That's what I spend a year with people on.

Starting point is 00:32:16 So let me see if I can condense that down into a series of sentences. I got to say, though, the introduction that you did last week was a brilliant summary of it. It really was a brilliant summary of it. But in my own words, in my own words, similar, yeah? When people first start, I love this quote.

Starting point is 00:32:40 I just go Spice Girls on them. Tell me what you want, what you really, really want. And I haven't yet had anyone go, tell you what I want, what I really, really want. I want, I want, I want, I want. No one's said that to me yet, but I'm hanging out for that day. Anyway. It's coming now.

Starting point is 00:32:57 You put them out. It may be. I look forward to it. Okay. So the model of tell me what you want, what you really, really want, the intent of that is to boil down to the core of why are you investing? What is it that you want to get out of? What's the purpose for putting all this time, energy, effort, and money into?

Starting point is 00:33:21 what is it that the expectation is that you have to get out of it so it's a determination of your personal goals and objectives right part of that then once we've got a an image of that then it's a matter of all right you tell me the time available to you to be able to do that if you're full-time employed part-time job 14 kids and 34 different social commitments that you're obligated to do every month, then allow me to assure you time is limited to invest into your investing and taking that on and setting yourself up for a fail. Because this is not a journey that for the lighthearted, not a journey also for the half-hearted. It is a journey that you want to be committed to taking on. Now, okay, great. Some people can take that and be quite fearful of that

Starting point is 00:34:10 statement. Oh, that scares me. Maybe I'm not committed. I'm saying, no, let's call it. Maybe you're not you know and if that's the case then sure get some help invest with other people or just get a buy and hold and hope and pray that that one does it yeah because getting one as an arbitrary decision without doing any investigation sure over a 30-year period provided you're young enough over a 30-year period there will be a lift in value and there'll be a prize for you congratulations it won't be the best it won't be awesome but it'll be better than just sitting my hands and doing nothing let's say or or plan a and just solo plan a model yeah so so great but if you're looking for something where you actually have something that you're after a lifestyle or a

Starting point is 00:34:57 commitment or a goal or an end game that you're actually after if that's what you want then it's going to require more than squeezing a few hours into a a uh a full life where where you just can you can already hardly breathe. So that requires them an assessment of time. So you've got to make a decision. All right, well, what am I going to sacrifice to do this? What do I have to give up? What decisions do I need to make? One of the things, irrelevant. Right. So then we've got the skills you have. So what do you bring to the table? Now, people go, well, I've never done property investing before. I don't know what skills I've got. I beg to differ on that. You have skills. If you're employed, if you're earning an income, you have skills. And the skills you

Starting point is 00:35:46 have as an employee can translate very readily into property investing. There are similarities there. If you have to look after kids, if you're a mum and you've got kids and you've got a brood of kids, let me assure you, you can handle trades. It's a case of managing competing resources and making it work. I throw that out as a... That's good analogy, yeah. Anyway, yeah. Okay, then we've got to consider, well, as a part of what have I got to play with,

Starting point is 00:36:19 what can I bring to the table? It's our skills, I get it, and our passions and our desires, our passion and our desires, yeah? So that's part of the equation, slightly different to skills. I have a passion for being on the tools and doing tools things and getting involved in, yep, great. I can employ that passion. i don't encourage people to do that particularly not as a career path yeah but from a from a once

Starting point is 00:36:38 of event or from a entertainment perspective hey have a crack go for it have some fun with but but from a career path property investor that's not going to yield you the outcome but you know what are your passions so what are my skills and what are my passions then we go into okay as another part of what do i bring to the table what is your cash position and what is your borrowing capacity yeah yeah how much can you bring to the table and what is the amount of borrowing how much can you borrow because that together brings not only the ability to buy but the ability to execute a project yeah well now we get into the numbers we have to go well we've got to understand the numbers around this and how do they have a place

Starting point is 00:37:20 all right great so then it's a case of all right given that i uh i have a certain number of skills I have a certain amount of time. I have a certain bit of passion. I've got cash and borrowing capacity. Then it's a matter of pulling all of that together and drawing a correlation into the different choices of strategic approaches that you can take on. Yep. Right.

Starting point is 00:37:42 Well, herein lies a massive disconnect. Where do you go to determine those different strategic choices? Where do you go to know what's right for you? that's not an easy question to answer particularly particularly coming from position of getting you into this all right there are a couple of resources you can go to yep um books have a whole variety of different ways at a high level um seminar junkies i was a seminar junkie it worked great for me at the early stages that gave me a taste of very of different um different things so webinar junkies they're called today um because there's less seminars uh pay a few hundred bucks if you have

Starting point is 00:38:20 to pay something or just roll up and just attend a variety of different of these things, not from the perspective of I'm going to do it, I'm going to do it, but from the perspective of what have they got to say, how does that relate to me, my skills, my time, my ability, my desires, and you listen to a multitude of them over a period of time to then draw some sort of, this one resonates for me, this one feels right,

Starting point is 00:38:45 and then you can start to explore that into more detail. So there's a bit of a journey, as I said here. I mean, with results, we already know the outcome of that because we're clear on the strategies. We can go, yeah, your position suggests that this actually correlates for you for the safest, easiest, and smallest leap for you to get started on this journey. This is the strategic approach that works for you.

Starting point is 00:39:10 And then we start to build skill around that strategy and move forward. Another one, we wrote a book a decade ago now called the real deal yeah so the real deal is a book which is all about different strategic choices and different strategic outcomes and kind of what it takes and the skill required to do that we built that book for the purpose of of people being able to get a picture of where am i at where am i likely to be positioned and then what can my career path take going forward with this that was the purpose of the book so that'd be a way to go for it but there is you don't have to get that one uh you can just go you do enough research out there there's enough

Starting point is 00:39:49 inspiration out there totally with with the 14 different case studies you put in that book and with a variety of different approaches that's a pretty good way rather than to read 14 books or go to 14 seminars at least you're going to get a taste of what the avenues might be uh to start doing some further work from there so i will put the link to the real deal on the show notes so that people can start there. I think it's good value. It might be 10 years or more old, but it's still got some relevance in that perspective.

Starting point is 00:40:23 So yeah, sorry, go on. The last thing you could do, and which is really possible, is go to property meetings of sort. There are numerous networking groups that you can go and lean on. Sit in the corner. Don't talk to anybody if you don't want to.

Starting point is 00:40:40 it's okay but sit and listen just sit and listen to what they say stand there with your little coffee in the in the mug and stand as long as a small group and just hear what they have to say when they ask you a question say uh-huh all good and they'll let you be quiet if you want to be the mouse it's okay um but but but absorb the information because then you get an idea of where they're at what they're up to the difficulties they face what whether it works for you whether If it's not works for you. And just, if you go to a variety of those, then you get to hear the people. Oh, this is beautiful.

Starting point is 00:41:12 Then you get to hear the people actually know what they're doing. You get to hear the people that are full of smoke and mirrors who don't know what they're doing. And to hear the people who don't know what they're doing. And in that, then you get to lean on and you get to pick who you actually can lean on for information and support. Remember, of course, if they're not trained in training, they're never going to be a little bit loose around it but it's enough information for you to get a clue about maybe what it is you want to do so i'd encourage that but strategic choice is paramount for you to be able to achieve what you want to achieve on the premise you are pretty

Starting point is 00:41:46 clear on what it is you want to achieve and you're committed to doing so yeah spot on and and there's a really great way of walking through that process and again it's a process that not many or not enough investors have put their time and money and energy into to actually get them to the decision starting point but you've laid out a really good pathway as far as that goes that brand photos we're going to interrupt brendan's great conversation here this week after yet another awesome session brendan really called out the ready fire aim trap that so many investors fall into showing why rushing in with our strategy is a recipe for regret. It revealed how real success in property comes from combining patient due diligence with sharp market insights

Starting point is 00:42:33 whether you're playing the long passive game or the active value creation game with reno subdivisions or developments. We also heard some golden tips on off-market deals with only 10% of the best buyers ever hitting realestate.com.au and the four key questions that you need to ask agents to uncover hidden gems that others never see. Now, if that's fired you up, then jump into the show notes and download Brendan's new Real Estate Success Community app. This is a place where top mentors, investors, developers and renovators connect, share off-market leads and learn from exclusive case studies and live events all free on iphone and android so just click the link in the show notes to download it and come and join the community and all this really sets

Starting point is 00:43:23 you up for the secret sauce that's going to be rebuilt in next week's show because in part four brendan's going to open the kimono and give you a sneak peek into how to forecast future property trends with confidence. We reveal how supply and demand, medium price movements, sales activity and listing ratios can become your crystal ball, helping you know where and when to buy with far more certainty than gut feel or red hot tips. He even shares the exact online tools and data hacks that property predictions use to achieve 90% accuracy in picking suburb level trends months in advance. We'll talk sentiment versus reality, spotting the waves in boom towns before you're the last buyer in, and timing infrastructure plays so that you ride the uplift,

Starting point is 00:44:15 not the aftermath. If you want to know where to buy and when to buy, and what to ignore, then you just can't afford to miss next week's episode. Until then, stay curious, do the work, download the app, and remember to always get invested. 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 Invested 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.

Property Hub - Investment Insights & Inspiration - Get Invested: Part 3, Invest by design - Strategy-First with Brendan Kelly

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