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421 | “I walked away with nothing”: How To Start Again and Build Your Financial Peace From Scratch – Chat with Jessica

 

“I worked hard my entire life and I had nothing to show for it…” 

 

Folks these are the words from today’s super special guest before she began her complete financial and self-described personal transformation.   

Born into an amazing family with terrible money management…Jessica learned the value of being financially independent from a young age.  

So how did she end up selling the first house she built…with multiple debts…and “walking away with nothing…”?! 

Tune in to find out now and discover the amazing, breathtaking journey she’s been on since then. 

From a lucky break with her first property to borrowing her mum’s life savings to building half a house, today’s multi-chaptered saga is truly a nail-biting, heart-warming tale with lots of laughs along the way.  

A true inspiration to investors everywhere – A huge THANK YOU to Jessica for sharing your story on the couch today.  

 

 

Free Stuff Mentioned… 

  • Want help with your sequencing? Reach out to our award-winning financial advisory! Book a free, no-obligation initial chat with our team here and see how we can help you on your investing journey 😊  
  • FREE Lifestyle By Design App: Check out Moorr the APP, our money management platform that’s now officially available as an app on Apple and Android. Check it out today and completely change the way you view and manage your money!  
  • See Jessica’s half-a-house below…

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – The incredible story in store… 
  • 2:02 – Meet Jessica!  
  • 2:42 – Growing up with amazing parents, who were terrible at money management… 
  • 4:18 – How Jessica funded her love of horses!   
  • 7:18 How did her family’s financial stress appear in her life?  
  • 8:29 – She still has her first bank account?!?  
  • 10:28 – The trade-offs in life    
  • 13:37 – From Hospitality to University to Bangalow  
  • 15:24 – “I walked away with nothing…” 
  • 16:55 Her Lucky Break: Putting down the $5K deposit for her first property!  
  • 18:23 – Getting out of debt…   
  • 21:25 – A word of advice from Jessica on cars!   
  • 22:43– Building half a house?! (Check out the pics in our show notes!)  
  • 27:42 – Gardening while listening to us…and where it led 
  • 29:57 – Thanks mum & dad!!  
  • 32:01 – “And then I did something I wouldn’t recommend to anyone…” (& how she bought a winner!)   
  • 36:25  One of the most powerful things Jessica has gained from our podcast 
  • 38:23 – Her next investment project…. 
  • 41:15 – A note on Nambucca Heads 
  • 45:22 – Jessica’s goals for the future 
  • 46:40 – Turning Australia’s ship around, co-share living and the future of Australia’s property market (you heard it here first! 😉)  
  • 50:48 How does she feel about today’s rising interest rates?  
  • 54:55 – Ladies! It’s important to get onto the property ladder… 
  • 57:28 – (Psst…Our Moorr platform is now available as an app! 
  • 57:55 – A huge thank you all round!   
  • 1:01:49 – Seriously, what a transformational and empowering story!!  

 

420 | How She Did It: A Single Mum With A 7 Property Portfolio On 36K?! – Chat with Mandy

 

“Some days, I had to choose between feeding the kids and driving them 27km to school…”

 

Folks, some stories are just so insanely awe-inspiring and jaw-dropping that it’s hard not to listen to it twice (or three times!).

The story that today’s Summer Series Guest is sharing with us, is one of them.  

Meet Mandy: a champion mum from the remote town of Forbes.   

Growing up with absolutely NO money conversations around the table, she was constantly in “the bottom percentile” at school and at just 18, became pregnant. 

This is just the very beginning of Mandy’s amazing and transformational journey.  

Without giving away too much, tune in to hear as Mandy swings from her darkest period to her hustling years to now owning a flourishing property portfolio with 7 investment properties… 

While never earning more than 36K a year AND raising 2 young kids by herself 😮 

A truly heart-stopping, eye-opening tale that follows one woman as she grows up in a low economic demographic and proceeds to break through every mental, financial and emotional barrier placed before her.  

Thank you for sharing your incredible story with us Mandy, your vulnerability and openness is an inspiration to investors everywhere.  

Give it a listen now folks!  

 

Free Stuff Mentioned… 

  • Want help with your sequencing? Reach out to our award-winning financial advisory! Book a free, no-obligation initial chat with our team here and see how we can help you on your investing journey 😊  
  • FREE Lifestyle By Design App: We’ve just launched Moorr the mobile app! Take smart money management with you wherever you go, with tons of new exciting features. Check it our on Apple and Android and completely change the way you view and manage your money!  

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – The amazing story we’re diving into today… 
  • 2:34 – Inspired by Moorr!   
  • 3:42 – Meet Mandy Sweeney 😊  
  • 4:16 They NEVER talked about money?!?  
  • 6:46 – The #1 biggest thing she learned from her parents  
  • 8:59 – “We knew the value of the dollar”  
  • 9:36 – The Baby Boomer Era: All about paying off the mortgage 
  • 11:25 – Her First Job & Hating School  
  • 14:33 – A diverse family history: No university degrees & no animosity! 
  • 16:36 Pregnant at…18?!?   
  • 17:10 – The foray into property investing (+ her first child)   
  • 19:22 – Mandy’s Money Management System   
  • 21:24 10 years later, her life completely changes again….  
  • 22:31 – The first house flip   
  • 25:24 – The Car Loan She Just Couldn’t Take (to buying a block of land??!)  
  • 27:29 – “I knew I was destined for low-wage earning”   
  • 28:59 How she’s never bought a house with her own money!   
  • 29:54 – If she’d stayed in a relationship, then THIS critical habit wouldn’t have changed…. 
  • 33:16 – The Transformative Power of Reading 
  • 36:23 Why Mandy didn’t discuss property with her family or friends  
  • 38:36 – Buying houses like she buys shoes?!? (+ her retirement goals)  
  • 40:45 Everything Goes Downhill & How She Got Out Of It!  
  • 42:38 – “I had to choose between feeding the kids and driving them to school”  
  • 46:00 – Earning 35K and sending her daughter to a 34K boarding school… 
  • 51:12 – Fast Forward: 5 dual-earning properties?!   
  • 51:55 – Buying an ex-banking building?! 
  • 54:58 – How Mandy set up her kids financially…   
  • 57:21 – “A dollar earnt is not the same as a dollar given”   
  • 58:48 What does her property portfolio look like today?  
  • 1:01:35 – This is what drives her… 
  • 1:03:08 – How does she implement her MoneySMARTS?  
  • 1:07:52 Mandy’s message to the community   
  • 1:10:22 – The Challenges with Financing in Smaller Towns
  •  1:18:01 – WOW! What an unbelievable story… 

 

419 | Proof Is In The Portfolio: From Leaving School At Year 11 To Owning A $4.5M Property Portfolio – Chat with AJ

 It’s finally here folks. It’s the time of the year we’ve all been waiting for (that’s almost better than Christmas 😉).

Today we’re kickstarting the VERY FIRST episode of our 2022-23 Summer Series!!!  

And boy do we have a FANTASTIC lineup of guests for our 5th Summer Series, each with their own absolutely amazing, jaw-dropping stories which are all about this year’s theme… 

What Drove You To Act?   

Inspired by the crux in every movie.

The inspirational light bulb moment.

The Penny Drop “A-ha” moment.

These are the pivotal moments that every successful investor has faced in their property investing journey.  

From their origin story to their darkest-before-dawn moments to their “rising from the ashes”, we’re kickstarting this awesome series with the unique story of AJ.  

 

 

 

We’ve all heard the idea that life’s about making the most of your youth and you can “figure the rest out” later, but what happens when you choose the life-changing and highly rewarding path of delayed gratification?   

Well folks, you’re about to discover what happens because this is the inspiring story of AJ. 

From growing up in a financially tight household to the pivotal moment in his childhood that transformed his entire family’s dialogue around money… 

He’ll be sharing how he invested in his FIRST property at just 16 years old (Yep. You read that right! And did we mention he COMPLETELY self-funded it?! Tune in to 15:22 to find out how!) 

The failproof investing style that’s bought him his successful 6-property portfolio (and you can implement it too!)… 

And all of life’s journeys in between, taking him from Afghanistan to Antarctica to Darwin and beyond. 

There are also NO budgets, a divorce and some truly great words of wisdom from AJ tucked in between the pages of this week’s episode. 

A truly impressive and stirring story. A ginormous thank you to AJ for taking the leap of faith with us this year and sharing his amazing story with our community.  

 Listen now folks for an instant boost of motivation! 😊  

 

 

 

P.S. And for those parents who are tossing up, ‘how much should I be telling my kids about money?’, listen to 1:03:58 to find out how Bryce & Ben are navigating this tricky question.  

 

Free Stuff Mentioned… 

  • Want help with your sequencing? Reach out to our award-winning financial advisory! Book a free, no-obligation initial chat with our team here and see how we can help you on your investing journey 😊  
  • FREE Lifestyle By Design App: Check out Moorr the APP, our money management platform that’s now officially available as an app on Apple and Android. Check it out today and completely change the way you view and manage your money!  

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – Woohooo!! It’s the 1st Ep of our 2022-23 Summer Series!!   
  • 1:55 – We launched Moorr the APP!  
  • 3:53 Welcome Andrew! (aka. AJ)  
  • 4:30 – He did THIS at just 14?! 😮  
  • 7:55 – How did AJ pick up his family’s tight financial situation?  
  • 8:50 – The Money Story Growing Up  
  • 10:05 This completely changed his family’s dialogue around money… 
  • 10:44 – AJ bought his first investment at HOW old?! (This is INCREDIBLE folks…) 
  • 11:44 – The university push & changing generational beliefs  
  • 15:22 – He saved THIS amount in his first year…and what he almost bought (Thanks dad!)  
  • 16:48 The Process & Structure Behind His First Property  
  • 20:26 – The second property & getting his trade   
  • 21:10 – “I only went to year 10 but I can work that out…” 
  • 23:31 How AJ buys his properties with no emotional attachments 
  • 26:22 – Being shipped out with the army & the third property   
  • 29:30 – A tenant of 19 years?! How AJ deals with his tenants    
  • 30:53 – Moving from Darwin…    
  • 33:03 – The ONLY splurging he does  
  • 34:23 – He’s never had a budget?! How does he do it?!?  
  • 36:01 The Biggest Investing Driver For AJ  
  • 37:25 – He fell into this investing fallacy… 😉   
  • 38:38 – Overcoming relationship breakdowns & joint investments  
  • 42:46 – Meeting the love of his life…before moving to Antarctica?!?  
  • 44:04 NSW folks: Beware Gazumping!!  
  • 47:49 – The journey to finding his dream family home…  
  • 51:15 – “It’s funny to pay more for one property than the entire sum of 5 others”  
  • 53:38 – Debt levels & the Golden Q: Is he done with his portfolio?!  
  • 57:04 – The Trade-Offs 
  • 59:04 – AJ’s message to the community 
  • 1:02:48 – How much should you be telling your kids?! 
  • 1:03:58 – This is how Bryce & Ben navigate it…  
  • 1:07:45 – Thank you for sharing your story AJ!!  
  • 1:11:36 – Ben’s changing up?!?!  
  • 1:08:35 – A fantastic start to an awesome lineup of guests…  

 

415 | When Do Out-Of-Pocket Costs Become Too Much?

One person doesn’t know if their properties are worth the out-of-pocket costs. 💸 

Another couple isn’t sure if they should strike when the market is hot….or if it’s best to wait. 

And another investor just wants to know, ‘Are we absolutely sure that Queensland’s Land Tax is off the table?!?’  

 

We’re back with another mega-exciting Q&A Day that speaks to the Psychology of Investing, especially in an environment with rising costs and interest rates. 😮  

From the common mindset blocks that investors face (like loss aversion and sunk cost) to how you can carve a path for yourself when you just don’t know what to do next…  

We’re unpacking why investing isn’t for everyone, the Quality of Living trade-offs, how and why you’d want to split your variable and fixed rates and tons more wisdom!  

Basically folks, this episode has a bit of gold (and anxious feelings) that we can all relate to.  

PLUS, Bryce and Ben unpack and explain CoreLogic’s recent release on the 2022-23 Federal Budget and what the RBA’s recent rate hike reflects about us as consumers.  

Another fantastic episode filled with your awesome questions, tune in now folks!  

 

 

P.S. And if you want help identifying the next step on your investing path, book a free, 100% no-obligation consultation with our award-winning team of Property Investment Advisors here.  

 

Questions We Answer

Question 1: Anonymous on Confirmation that QLD Land tax is off the table 

Hi Ben 

I’m a property investor contemplating my next purchase.  

I heard that due to lack of support QLD’s premier has had to back-track on her proposed new land tax which would see the subject tax calculated on one’s total Australian land holdings (where before was only based on holdings in QLD).  

Reason I am touching base is the QLD premier stated she would have to revoke the proposal and would have to be tabled and passed in parliament. Not understanding this process, I wondered if you might know whether the proposal has been formally revoked and/or if you can advise how or where I could direct this enquiry to obtain absolute proof this land tax is now off the table.  

LOL, there is no way I would want to proceed buying in QLD knowing the new land tax could send me broke.  I need to see it set in stone.  😂 Thanks for any help you can offer. 

 

Question 2: Travis on Out of pocket expenses to maintain to IP 

Hi gents hope you are well. 

My question and advice relates to out-of-pocket expenses for me to hold 2 investment properties, because at the moment after all costs and tax rebates I’m around 15-18k PA out of pocket. I own a ppr and have a vic & qld IP.  

My Moorr platform is up to date and has me in the surplus of 4K per month but only at the moment. 

My issue is I don’t see current benefits with the high out of pocket expenses which are only going to increase & a couple of costly expenses to address on each property with water issues one being a requirement to put in a pit drain to tackle storm water and the other a fixed awning to combat heavy rain over a balcony, 4K and 3.5k respectively. 

With all this expense and the impact on quality of life due to concerns of having to pay for the next big cost I wonder if it’s even worth it. 

I have spoken with my advisor and informs me it’s ok but I wonder if this is sustainable or do I sell out for a more comfortable quality of living. 

I appreciate that there is some sacrifices but 15-18k YOY with little prospect of that moving to a favorable portfolio holding I just don’t see. 

To add there will be continuous improvements to spend in the coming years just to keep up with the age of the properties and keep them fresh I don’t feel rental increases will help the catch up. 

Please share your advice and thoughts. 

 

Question 3: Rose on A question on paying investment loans 

Hi Ben and Bryce, 

This is Rose, I love the podcast and have really enjoyed the personal stories in your summer series. I’ve never heard of financial anorexia before, but I definitely have it. So I was wondering if you could give me some guidance. 

I bought a small investment property August 2021. I had a lucky guess that interest rates where going to go up sooner than the RBA was suggesting, and I fixed the whole loan at a lower rate than the bank offered for the variable. 

However, this means I don’t have an offset account and I’m only aloud to pay off extra up to a limited amount per year. 

This is an investment loan, and the property is positively geared. 

I’ve heard old adages about how you shouldn’t pay off investment loans because they’re tax deductible, but the saver in me wants to pay down the loan. 

So I’m asking you two as the experts, should I still pay off extra on my property investment loan now, while I have a low rate for a few years, or just keep paying back the minimum and invest the extra money elsewhere?
 

Question 4: K on Using equity – the now or never mentality 

Hey gents,

Thirty-something female listener here from Sydney, and big fan of all your work. You made lockdown liveable – thank you.

While I have met with one of your team already for a free consultation, I have to say I am finding taking the plunge my biggest challenge

My partner and I will be having a baby within a year, and have some modest “rainy day” savings in our offset – which took a few years to build. We purchased our home (PPR) in late 2020 and also have an investment property (unit) in Sydney purchased in 2018.

We now have a window of opportunity to use the equity in our home and investment property to buy our next investment and scale up.

I note in a recent Q&A episode you talked about borrowing capacity (for some) decreasing over time and becoming a tad harder, plus the mortgage environment will be generally more challenging with interest rates hikes etc.

I am not afraid of the macro changes going on in the world too much, but the ultimate question is: do we strike while the iron is hot, or wait?

The challenges ahead aren’t small (new human on the way, parental leave considerations, reduced income, rising interest rates etc)?

Please help.
K, Sydney.

 

Free Stuff Mentioned… 

  • Other Episodes Mentioned:  

 

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – This week we’re tackling… 
  • 1:21 We’ve had a MASSIVE upgrade to our Lifestyle By Design platform!! Check it out here.  
  • 7:44 Quick Recap: CoreLogic, the RBA rate hike & Hot Property Data 
  • 10:33 – Feeling uneasy? This is what you should do. 
  • 13:02 Here’s how a previous TPC Guest is implementing our lessons…. 
  • 16:01 Why you should chase your curiosity!  
  • 17:28 Q1) Confirmation that QLD Land Tax is off the table 
  • 18:35 The process behind amending legislation like this!  
  • 20:40 Off-Ramping: Why you shouldn’t be concerned…. 
  • 24:03 Q2) Out-of-pocket expenses to maintain an IP 
  • 26:00 This a classic conundrum that investors face…  
  • 27:56 The Psychology of Investing: Sum Cost, Loss Aversion & Comfortable Quality of Living 
  • 29:06 – Over the long term, THIS disappears… 
  • 30:25  Here’s how Travis can face his anxiety 
  • 31:47 THIS is why some people aren’t suited to be property investors
  • 33:28 “You don’t believe it”  
  • 36:45 Why investing is just like a bottle of wine… 
  • 39:16 Q3) A question on paying investment loans 
  • 40:19 What is Financial Anorexia?  
  • 41:20 Some of the catches to consider…  
  • 42:49 How to split your variable and fixed rates  
  • 44:18 Ben’s Answer (In theory)  
  • 46:01 What’s the benefit of going part-variable?  
  • 46:51 Q4) Using equity – the now or never mentality  
  • 48:29 Why you should focus on long-term horizons!  
  • 51:04 How to find your pathway forward…(Psstt…if you’d like help with this, why not book a free, no-obligation consultation with one of our highly qualified Property Wealth Planning advisors here.)  
  • 54:30 The 3 Golden Dials!  
  • 57:03 – How we make the “Invisible, Visible” 

And… 

  • 1:01:47 Made a mistake on your iPhone calculator? Here’s how you can wipe your last move 
  • 1:02:58 Why Re-grading Property Investment in Cairns is outrageous!  
  • 1:08:08 Keep the Qs coming folks! Submit them on Speakpipe.  

 

400 | 4% Chance of Survival: The Story of Perseverance You Will Find Hard to Believe! – Chat with Michael Crossland

Imagine, as a child, being diagnosed with an incurable cancer of the central nervous system. Imagine being told that you only have a 4% chance of survival.

Now imagine being offered hope – a shot at life – as a patient in a new cancer drug trial. But…as the days and months creep by, seeing all the other children slowly passing away, one by one, until you are the only survivor left.

Folks, this gut-wrenching, heart hammering vision is the TRUE story of Michael Crossland, the man who survived and continues to beat the odds, every single day.

 

In celebration of our 400th episode on the couch, we wanted to give you a story as amazing and meaningful as the milestone you’ve all helped us achieve. A GIGANTIC thank you to all our listeners who tune in every week, we are humbled and honoured to be able to help you on your financial journey. 😊

 

And Michael is the perfect guest for this.

A businessman and elite sportsman, Michael is at the forefront of today’s new generation of inspirational speakers and is one the most in demand and highly respected speakers in Australia. After releasing his first ‘tell all’ autobiography, Everything Will Be OK: A Story of Hope, Love and Perspective, in 2016, he is now a number 1 bestselling author across 6 different countries.

He’ll be sharing his continued struggle for life, spending ¼ of his entire life in hospital, yet continuing to persevere and grow from pro-athlete to successful businessman. From the heart attack which ended his sporting career to the numerous knockdowns, Michael shares with us his story and how he – and you – can overcome any challenge in life.

 

Folks, this may be one of our most inspirational and eye-opening episodes, please just tune in to hear the pure gold and wisdom that Michael has to share.

 

P.S. In case you missed it…we’ve recently rebranded our MyWealth Portal! Introducing Moorr – your new and improved home for all your financial affairs! We’ll be adding more exciting features soon so why not login (or create a free account) and update your details so you don’t miss any of the good stuff. Start achieving more, with moor today 😊 >>  www.moorr.com.au

 

Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:40 – Our 400th Episode folks… Thank YOU!
  • 1:00 – Meet our very special guest, Michael Crossland!
  • 4:43 – How was the money conversation like growing up?
  • 6:21 – One simple question that his mum asked the doctor that saved his life…
  • 7:58 – Being the 25th candidate for an experimental drug… And the only survivor.
  • 10:32 – How did he achieve one of his BIGGEST dream as a kid despite having a heart attack?!
  • 12:20 – Michael’s challenge to our listeners.
  • 16:20 – The financial inspiration while working at Ritz Carlton…
  • 20:17 – What are the 3P’s that will drive and yet, destroy people?
  • 22:00 – How did all his near-death moments shape his mindset?
  • 24:21 – The worst investment decision he ever made was driven by _ _ _
  • 26:34 – Michael’s discovery when he had hit rock bottom
  • 33:19 – The Passenger vs The Pilot
  • 38:34 – His transition out of the corporate ladder that led him to Haiti
  • 42:15 – Founding the Frontier Projects Charity
  • 43:55 – What triggered him to writing his autobiography, Everything Will Be OK: A Story of Hope, Love and Perspective?
  • 47:41 – The THREE MANTRAS Michael used to overcome his fears and stay mentally and emotionally sharp
  • 51:30 – His most challenging yet the most rewarding experience of his life…
  • 54:40 – Folks, do not miss this quote.
  • 58:29 – What are the next chapters of his journey?

AND….

  • 1:10:55 – What Grade of Financial Wellbeing are you?
  • 1:13:52 – Bryce’s Lifehack for our 400th Episode!
  • 1:16:05 – Our present to you to help you achieve more, with Moorr!

 

 

 

 

 

 

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