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We’ve Renovated … and Now We’re Moving … !

Wow, what a year! It’s just before Christmas and like a lot of people, we’ve been doing a heap of renovating – on our main website, www.JennieBrown.com.au

We’ve added some extra room over there, and so we’re moving! The blog has been moved to www.JennieBrown.com.au/blog

And as in all good moves, all our new stuff is in the new place. Come and visit, we’d love to have you stop by. You’re welcome any time!

Here’s our address … www.JennieBrown.com.au/blog

See you there!

Jennie

There is no beating around the bush with this final question in this Q&A series extracted from the Property Millionaire book. Mentors have been a critical facet to my property investing so answering this question was easy.

Q: Who was your first mentor or inspiration?

A: My dad. He was the first and the best. No one on this earth has ever come close. Because of Dad I am very passionate about helping others to help their children. Mentoring is not just about finding a mentor, but also about being a mentor to the people around you.

I hope you enjoyed these snippets as much as I enjoyed writing them. They are all extracts from the new Property Millionaire book which has already become a best seller.

Don’t delay, get your copy today by clicking on this link: Property Millionaire Book

Hi everyone

I have something special for you today – yes Christmas has come early for you all!

Due to the massive response to the Property Millionaire book release in which i have co authored, we decided to celebrate by allowing you to ask me a question related to property investing – any question you like!

Our server nearly crashed with the huge response so i decided to run a teleconference and answer all the questions at once and guess what? I recorded it!

So here is your special gift – a copy of the recording for you to download. Just click on the link below and its all yours. Have a listen and i would love you to drop me a line in the comment box below.

http://www.jenniebrown.com.au/seminars/property-millionaire-questions

Bless Ya!

If you are new to property investing then this answer is gold! Read below and discover the fourth installment of these revealed questions and answers from the Property Millionaire book:

Q: If someone wants to get started in property today, what is the best advice you can give them?

A: Work out what it is you want to achieve from property and life. The majority of people get into property to make money because they have something – usually lifestyle – they are dreaming about. It is vital that you work out what you want to achieve with property, and why you want to do it. Once you are clear, you need to educate, educate, educate yourself to find the most direct path that will work for you. I achieve goals all the time and I miss goals too. But I celebrate each win, even if it’s a small one.

You can get the full version of this answer in the new Property Millionaire Book

This one is short and sweet but well worth a read. This little bit of information alone can help you form the foundation of your own property investing!

Q: What property strategies have you used to build your property portfolio?

A: Anything that makes me a chunk of money AND gives me a fantastic return for my time and money. I don’t want to wait years for a capital gain, and I’m not interested in negative gearing or something that costs me money or breaks even in the now. I use strategies such as strata (community title), small subdivision, small development, occasionally renovation, and splitter blocks. I’ll move strategies depending on market conditions and the area I am looking at.

To read this and other insights into my own path to financial freedom, click on this link to get hold of your copy of the Property Millionaire Book

Here is a question I get asked a lot; its in the new Property Millionaire book and I have given you a sneek peak here today

Q: What was your 1^st experience with property?

A: Because I was exposed to property at a young age, my ”first” property experience is a mix of the renos Dad worked on. The properties of my childhood all had a number of “features” in common. At the age of 20, I bought my first property. I moved in and, of course, it was a reno! Dad helped me negotiate a purchase price of $28,000. I had only just started working and I hadno savings. I renovated the house using leverage, which was getting the local lads and my brother and his mates to help.

To hear the rest of the story you will have to get your hands on the book and you can do that by going here: Property Millionaire Book

The launch of the new Property Millionaire book that I am a contributing author in has been met with huge enthusiasm and support. I thought I would give you a few snippets of what my chapter entails. Over the next 5 days I will be revealing my answers to 5 questions that were posed to me that created part of the chapter. Have of a read of the first one:

Q: What beliefs about money did you grow up with?

A: When I was born my parents lived in a rented garage in Parkes, New South Wales. Growing up, I was in hand-me-down clothes that often didn’t fit me. We rarely went out to eat – a milkshake at the local Paragon Cafe was a massive treat. I remember at around the age of 14 going out to eat at a Chinese restaurant and being a little bit unsure as to what to do. Mum worked as a cleaner, and Dad was a travelling salesman. However, my father bought us up to believe we could be anything and do anything. I decided that I didn’t want to be the poor kid in town with the hand me-down clothes; I wanted to be a millionaire by the time I was 30.         

You can read more about my answer as well as the rest of some fascinating stories in this best seller book by going to this site: Property Millionaire Book

Welcome to the final blog in this series. If you missed the first three please go back and read them by clicking on the following links:

http://jenniebrown.com.au/debt-vs-cashflow-property-investing-for-life

http://jenniebrown.com.au/is-property-investing-debt-worth-it

http://jenniebrown.com.au/the-property-investing-alternative

So we looked at the double edged sword that large debt can be on your portfolio. On one hand its sounds great to be able to leverage to the hilt and accumulate a massive portfolio. For me though, I don’t want to be handcuffed to the bank.  People are forever telling me they want “financial freedom”, but being mortgaged is NOT being free.

I mentioned in my first post about having a “why” behind your investing. Well, why would I want 200 houses with 200 problems associated with it? I invest so that my time is free to do the things I love – not manage tenant and maintenance issues.

I have found that using small amounts of debt quickly gives me the freedom to do profitable deals that yield large chunks of cash to pay down the debt quickly. That way I own the property faster.

By working the debt in this fashion I am advancing my property investing three fold; firstly my debt is getting paid down fast, I don’t have the nightmare of a massive portfolio and best of all my cashflow is skyrocketing because my debt is so low. It’s a win-win-win!

So I want you to think about this. Think about your make it, keep it strategy. And whilst you’re looking at the making it, also start thinking about the keeping it and how you can move forward and start to build a passive income portfolio.

Have a reason for why you are investing in property. Get really clear on what your outcome needs to be and you may just find its easier than you think.

And think about including a strategy for being debt-free.  We worked out that it’s better to own a smaller number of properties outright than to owe the bank for a larger number of properties.

I am really passionate about helping people achieve their dreams and goals through property investing; which is why i am so excited to be able to share some of my real estate investing secrets in the new bestselling Property Millionaire book. Check out this latest press release:

LOCAL MILLIONAIRE INVESTOR SHARES SECRETS TO SUCCESSFUL PROPERTY INVESTMENT IN INTERNATIONAL BESTSELLER

Local property investing expert, educator, and mentor, Jennie Brown, is about to share her secrets to how she became a successful property investor in the soon-to-be launched international bestseller, Property Millionaire.

Identified as one of Australia’s top 16 property investor successes, Ms Brown talks readers through her formula on whether to invest in apartments or houses, how to pick the suburbs that will provide the greatest investment returns, and her four top tips for a successful sales outcome.

“I am passionate about educating people how to create the life of their dreams using property investing strategies that take the least amount of time and effort,” Ms Brown said.

“While I am a property investor and developer, the second, equally important, part of my business is teaching and mentoring others how to invest in property using my Make it, Keep it philosophy, whereby investors are able to build a portfolio of properties to keep, and earn passive income from them in the meantime.”

In the book, Ms Brown talks about the most common mistakes she sees property investors make.

“New investors are often not clear on their outcome, so they head down the wrong track. They go with the most common strategy, and common is not always the best. They only go to one seminar or are only educated in one strategy, or, worse still, seek little or no education.”

Ms Brown said that it is vital to seek advice from qualified professionals, and find appropriate mentors to succeed.

“Be prepared to pay for it or exchange some sort of skills. What you get for nothing is usually worth nothing.”

Ms Brown was exposed to property investment from a young age, with her father buying derelict homes, moving the family in, and renovating. He’d then sell and repeat the process. As Ms Brown grew up, her dad’s strategies expanded to include subdivision, building, units, positive cash flow, buy and holds, and capital gain properties. During this time, he taught Ms Brown and her brother all types of property and building skills.

At just 20 years old, and with no deposit, Ms Brown bought her first house, for $28,000, renovated it, and sold it several years later for $94,500. With a dream to be a millionaire by age 30, Ms Brown started to expand her property portfolio, but come her 30th birthday she was destitute. Having left an abusive marriage, she was living in a refuge, had lost her job, and couldn’t afford the payments on her properties.

Starting from scratch, she built a family home on a small acreage that on sale made her enough profit to quit her job and have the choice of never having to work again. Since then, Ms Brown has completed more than 40 property transactions, including subdivisions, renovations, strata titling, multi-unit development and building projects. She also manages projects for other people.

Ms Brown said that the majority of Australians who purchase “investment” properties do so with an intention to make money, but a staggering majority end up doing the exact opposite.

“While they are holding their investments, they are losing money through negative gearing strategies, rather than generating a passive income,” she said. “The negative gearing strategy is based on a longer term outlook, and can easily be affected by market changes, demographics, maintenance issues, interest rates and other changes.”

Yes there is an alternative and if you are wondering what I am talking about you will need to go back and read the previous posts. You can click on them here:

http://investinginproperties.com.au/debt-vs-cashflow-property-investing-for-life

http://investinginproperties.com.au/is-property-investing-debt-worth-it

We came up with this idea where we would make chunks of money and then use that to build up a Make it Keep it portfolio – A MIKI.

So for example, let’s say that we buy or build or strata a four-unit development. The plan would be to sell three and keep one. We could continue to replicate this but each time we would keep more units. So the first project would give us 1 and the second project would give us 2 and so on until we could eventually own a whole block of 4 units.

This is a simplistic way of looking at it but you get the concept right? To start off you might want to just do a duplex and slowly work up to a triplex and before you know it you will be pricing up a six pack!

Each deal is relative to your own experience. Buying a six pack of units might seem out of reach to some but you have to climb the ladder to get the view so start at the first rung and work your way up.

Can you see what I am doing here? I am creating a situation where I own the property outright and by doing it with chunks of money, I have more control over how much debt I want to take on.

In addition, in the meantime, it’s a good idea to pay down what debt you do have on your portfolio as quickly as possible.

Have a think about this and I will wrap it all up in the next post.