Thu, 10 March 2016
Chris Gray has truly built an empire… an AUD 14m property empire to be precise! As a result he has gained great notoriety as a commentator on the marketplace… you may have seen him appearing on his fortnightly slot on Sky News called “Your Property Empire”. Perhaps what has made him so successful is his schooling beyond property. Chris is also qualified as an accountant and as a mortgage broker which has enabled him to see beyond the bricks and mortar. It is a great privilege to have such a great all-rounder on the show, so if you aren’t listening already, have a look at a few of these highlights from our chat:
** Buying property in capital cities is generally a safe bet.
** Second guessing a more ‘provincial’ property marketplace can offer high rewards, but also high losses.
** Do not underestimate the value of mortgage brokers.
** Refinance your portfolio regularly to ensure a consistent release of equity.
** Use zero emotion when investing.
** Remember that someone else can do all of the donkeywork for you.
Beyond the above, Chris was very keen to point out that when you have multiple properties, paying off mortgage debt can often be pointless. Using spare equity to increase an asset base is generally more productive than paying off a mortgage, especially if you refinance regularly. In this episode of Business Brain Food you will learn:
** How to raise finance to build a property portfolio quickly
** Differing attitudes to money across generations
** How best to reinvest equity
** The benefits of a “buyer’s agent”
Resources mentioned in this episode:
** Podcast Addict app: (https://play.google.com/store/apps/details?id=com.bambuna.podcastaddict&hl=en_GB)
** Smart Passive Income Podcast Tutorial: (http://www.smartpassiveincome.com/how-to-start-a-podcast-podcasting-tutorial/)
** Cliff Ravenscroft: Podcast Answerman (http://podcastanswerman.com/learn-how-to-podcast/)
** Chris’ Website with free book (http://www.yourempire.com.au)
** Ben’s Daily Business Tips podcast (http://www.dbtpodcast.com)
** Sales Made Simple Workshops with Ben (http://actioncoachanz.com/salesmadesimple)
** Leave feedback on this podcast and receive a free business coaching CD from Ben. Winners are also entered into a draw for a DVD pack worth 500 AUD. Email screenshot of your feedback to: firstname.lastname@example.org
** Facebook (www.facebook.com/businessbrainfood)
** Business Brain Food Facebook Group (www.facebook.com/groups/businessbrainfood)
** Twitter (https://twitter.com/bfewtrell)
** ActionCOACH (http://actioncoachanz.com/itunes)
** ActionCOACH (http://actioncoachanz.com/stitcher)
Chris’ story shows that you don’t necessarily need to be a slave to property day-to-day in order to earn a full-time living from it. His own company and many others like it specialize in doing the hard work to acquire and trade property, so you might be surprised at just what returns could be open to you in double-quick time if you shook off the fear and took the plunge… Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell (02) 9111 5000
Direct download: BBF081_Effortlessly_build_your_property_Empire.mp3
Category:general -- posted at: 12:00pm AEDT