Many years ago, I attended a mastermind event.
I was only a couple of years into my business journey and relatively green.
I’ll never forget the impact it had on me.
Spending time with other successful business owners and understanding what was working for them.
…What were they focused on?
…How did they spend their time?
…How did they make their money?
It opened my eyes to what I wasn’t doing.
What I didn’t see in my own business.
Across the next 6 months, my business doubled.
All because of the perspective change and learnings from the business owners I met at that mastermind event.
The same thing applies to wealth creation.
A lot of the time people miss out on opportunities because they can’t see them or know they exist.
In this episode of the podcast, I hope to recreate the experience of that event.
Showing you behind the scenes of one of my investments.
And hopefully, at the end of this episode, you’re able to imagine what is possible for you, too.
DISCLAIMER: All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.
Episode Highlights:
00:00 Introduction
03:05 The power of knowing what’s possible
05:22 Charley’s hybrid investing goal
08:15 About Charley’s best investment property
11:11 Finding out about the property
16:29 The costs and process of financing the property
22:15 Additional costs and fees
25:58 The property’s income and expenses
30:57 Has the property always been cashflow positive?
34:14 Refinancing the loan
37:24 The advantages of paying interest-only
40:00 The pitfalls of fixed interest rates
43:06 How much the property is worth now
45:44 Charley’s plans for the investment property
48:17 Mitigating risks associated with the investment
52:16 The risk of inaction
53:45 Lessons learned from acquiring the property
If you enjoyed this episode, be sure to subscribe, tune in and share this podcast!
Resource Links:
- Business and Investing website: https://www.businessandinvesting.com/
- Episode 005: Core Wealth Creation Concepts Only Top Investors Know https://youtu.be/4XZgeFI7MSU
- Episode 007: How Borrowing Money is Different for Australian Business Owners with Aaron Whybrow https://youtu.be/Qtz20zTniiU
- Connect with Dashdot and Diagnostics and Finance through https://businessandinvesting.com/partners/dashdot/ https://businessandinvesting.com/partners/diagnostics-and-finance/
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