I hope you enjoy reading this book as much as I enjoyed writing it for you! Most importantly, I hope that this book helps you take the action required to make your dreams come true! This is what you can expect to find in each chapter.
What does financial freedom mean, and why do you want it?
In Chapter 1, we explore the real meaning of financial freedom and differentiate between financial freedom and retirement. You will learn how to identify and remove any negative ideas you have about money (and specifically growing wealth) and give yourself permission to dream big. This chapter will help you dig deep to find your inner inspiration and motivation that will ensure you stay on track to achieving your financial dreams and goals. We will also explore the importance of surrounding yourself with positive people and influences that make you feel good and help you towards your goals.
By the end of Chapter 1: you will:
- Have defined your own meaning of financial freedom.
- Be really clear on the future and lifestyle you want and more specifically your short, medium and long-term goals.
- Be really clear on the deep underlying reason WHY you want to achieve the goals you have set, so you can stay focused and overcome hurdles and distractions.
Why Invest: The Scare truth about retirement?
In Chapter 2, we explore whether you will in fact be financially ready to retire by the time you want to retire. We explore the pension, superannuation and your current financial position and look at where you currently stand and how that is likely to look in the future (ie. when you are wanting to retire). We work out how much passive income you will need to have the choice to stop/reduce working.
By the end of Chapter 2: you will:
- Be clear on your current financial position.
- Have a clear passive income goals to work towards.
- Have a clear net asset goal to work towards.
Start your Property Investment Journey Now
In Chapter 3, we explore the reasons why so many Australians (and the world’s wealthiest investors) choose Property Investment as their preferred investment vehicle. You will learn about the power of leverage and how this can help you to build more wealth with less of your own money.
By the end of Chapter 3: you will:
- Be clear on the benefits of Property Investing.
How to overcome your fears and Mitigate the risks?
In Chapter 4, we explore the risks associated with Property Investment and how you can mitigate these risks to ensure that you implement a low risk investment strategy that will allow you to build the wealth you desire long term. We also explore the fears that may be holding you back from moving forward and we look at how you overcome these fears so that you can ultimately take action and achieve your goals.
By the end of Chapter 4: you will:
- Know how to mitigate the risks to protect yourself and your family.
- Have identified the fears holding you back from taking action and achieving your goals.
- Be ready and armed to overcome your fears and move forward.
Steps to Grow your Portfolio
In Chapter 5, I outline the steps involved in growing your Investment Property Portfolio and we delve deeper into your current financial position exploring your current assets, liabilities, income and expenses.
By the end of Chapter 5: you will:
- Understand your current financial position and your current spending habits. More specifically you will understand where your money is going.
Pay yourself first
In Chapter 6, I share with you the most important lesson in getting ahead financially. We look at the spending habits you currently have (as uncovered in chapter 5) and identify areas to spend less and save/invest more. I teach you how to ‘pay yourself first’ and make it easy and automatic.
By the end of Chapter 6: you will:
- Have identified areas where you can change your spending habits and save money.
- Have developed a clear budget, which will empower you to:
- understand where your money is going;
- take control of your finances;
- stop living from pay check to pay check; and
- make smarter money decisions.
- Have the formula to set up the bank account structure to ensure you Pay yourself first and make it automatic.
Building the Right Team of Experts
In Chapter 7, we explore the importance of surrounding yourself with the right people and getting the right experts to guide you throughout your journey. We look at the types of experts you will need in your corner and how to choose the right experts for your team.
By the end of Chapter 7: you will:
- Have your list of experts you need on your team to make your goals a reality.
Buy and Hold Strategy
In Chapter 8, we explore the buy and hold investment property strategy. I share with you why I love this strategy and why it is my preferred investment strategy. I also share with you exactly what you need to do to ensure the buy and hold strategy works for you. In this chapter, we also explore the power of compounding as well as the truth behind capital growth.
By the end of Chapter 8: you will:
- Understand the important factors to ensure the buy and hold strategy works for you.
- Understand the power of compounding and how to use this to help you achieve your property investment goals.
- Uncover the truth about capital growth and have the answer to whether Property values will continue to double every 7-10 years in Australia as they have historically.
Cash is King: Understand your Property’s Cash Flow
In Chapter 9, we delve into understanding and managing your cash flow as an Investor. You will learn the importance of only buying property you can afford to hold forever (regardless of changing personal circumstances and/or economic climates). You will learn how to determine exactly how much a property is going to cost you to hold out of your own pocket. You will also learn what expenses and income to take into consideration when considering the cash flow implications of adding an investment property to your portfolio.
By the end of Chapter 9: you will:
- Understand how to calculate the cash flow implications of every property currently in your portfolio and every property you want to add to your portfolio.
- Have identified how much of your personal income you can comfortably afford to contribute regularly towards building your Property Portfolio.
The Life Cycle of your investment journey
In Chapter 10, we explore the life cycle of your investment journey. We discuss each stage of your investment journey and what you should be focussing on during each stage.
By the end of Chapter 10: you will:
- Understand the stages you will go through during your own Property Investment Journey
- Identify which stage of the journey you are currently in.
- Set clear timeframes for when you want to reach each stage in the Property Investment Life Cycle.
Selecting the Right Property
In Chapter 11, we explore how to select the right investment property to add to your investment portfolio. I share the characteristics of a great Investment property and how to identify Investment Grade Property. We discuss location and look at where you should buy as well as what you should buy. We look at the pros and cons of buying old property versus new property and compare each property type in detail looking at the pros and cons of each option. I also share with you some of the strategies I have personally used to proactively grow the value of my properties (and my wealth) at a faster rate than the market.
By the end of Chapter 11: you will:
- Know exactly what to look for when selecting your next investment property.
- Be able to identify what property type you need to add to your portfolio to help you achieve your personal goals.
- Be able to determine where to buy and what to buy to help you take the next steps towards your financial goals.
Understanding and Improving your Borrowing Capacity
In Chapter 12, we explore what banks look at when reviewing loan applications and how you can improve your borrowing capacity so you can grow your Property Portfolio faster. We reveal the mystery behind credit scoring and how credit scoring can impact your ability to borrow. I share lots of tips of things you can do to help you improve your borrowing capacity. I also share the benefits and risks of getting a pre-approval.
By the end of Chapter 12: you will:
- Understand what banks look at when assessing your loan applications.
- Be able to identify changes you can make to improve your borrowing capacity immediately.
- Have a copy of your personal credit report and know your credit score.
How to Structure the Finance
In Chapter 13, I will share with you the four most important rules to stick to when structuring your finance. You will learn how to avoid cross-collateralisation, whilst still getting great interest rates. You will also learn how to maximise your good debt and minimise your bad debt and how to get the right balance of features, flexibility and cost when choosing loan products.
By the end of Chapter 13: you will:
- Understand your limitations as a borrower and what you can do to increase your borrowing capacity.
- Be able to review your current loan structure to determine what is working and what is not.
- Get the ultimate finance product and finance structure to place you in the best position to move forward with your goals.
Key Messages for Investors
In Chapter 14, I share with you a final message from the heart and reveal the best thing that Property Investment has given me.
By the end of Chapter 14: you will:
- Have completed the book and be ready to take action and make your dreams a reality. But, don’t forget to check out the two bonus Chapters about ownership structures and Tax.
Property Ownership Structures
In Bonus Chapter 1, you will learn about different ownership structures you can choose to hold your investment properties and the pros and cons of each one. You will also learn the questions to ask yourself and your accountant to ensure that you always choose the right ownership structure for each property purchase.
By the end of Bonus Chapter 1: you will:
- Understand the different ownership structures available and the pros and cons of each.
- Know what questions to ask your accountant to ensure you get the right advice.
Tax Considerations for Property Investors
In Bonus Chapter 2, you will learn everything you need to know about Tax and how it relates to you as a Property Investor. You will learn what is tax deductible and what is not and will learn about all the relevant taxes you need to be aware of. You will learn how to bring your tax refunds forward to improve your cash flow. We also explain depreciation and discuss negative gearing versus positive gearing.
By the end of Bonus Chapter 2: you will:
- Understand the different taxes applicable to you as a Property Investor.
- Know what questions to ask your accountant to ensure you get the right advice and are maximising your tax deductions and your cashflow.