How single mum Jenny Mole went from novice investor to successful development private lender (Part Two), with Jenny Mole – Ep. 82
In this week’s episode of the Geared for Growth podcast, Mike continues his conversation with single mum and experienced property investor, Jenny Mole, to talk through her journey from highly leveraged novice investor through to private lender for a property development deal.
Mike and Jenny follow on from part one, by delving more into Jenny’s personal motivations for investing in property and why she is so driven to take on the projects she does. Jenny shares how her father, who once doubted the number of properties she was acquiring, came around to seeing the value in what Jenny was doing, and in fact brought her a development opportunity.
By providing real life case studies and her own personal experience, Jenny provides insight into what it really takes to overcome challenges and succeed in property development. Jenny is a shining example of how resilience and determination is so important when problems arise and timeframes are tight.
Mike and Jenny also discuss the importance of having a plan mapped out for what you are trying to achieve, and why knowing what you want out of your journey is as important as the journey itself.
Finally Jenny shares how she manages to balance all of the projects she undertakes, by focusing on one thing at a time and not getting distracted by tasks that aren’t important to her. She talks about how she uses meditation to keep her grounded, and why daily habits are crucial in achieving her goals.
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Mike continues his conversation with single mum and experienced property investor, Jenny Mole, to talk through her journey from highly leveraged novice investor through to private lender for a property development deal. Mike and Jenny follow on from part one, by delving more into Jenny’s personal motivations for investing in property and why she is so driven to take on the projects she does.
What we cover in this episode
How Jenny turned her Dad’s doubts into her next development opportunity
Structuring the deal to cover a change in property partnerships
Resilience and determination when it comes to crunch time
Knowing your goals and mapping out a plan
Current state vs future desired state
Assessing your capacity for investment and development – time and resources
The value of habits and how Jenny balances her work, life and investments
Focus and the importance of not wasting capacity
“No matter how many obstacles come you just find a way to get around them, always find a way to get around them, but believing that we can get around them is how we do it” Jenny 4:55
“My point is nothing is easy, if it was easy you know as the saying goes everyone would do it. Nothing is easy I can make it look easy on the outside if I wanted to and that’s what a lot of people do but that’s not the reality, the reality it is really hard but it’s worth it” Jenny 12:22
“I mean you’ve mapped it out and that’s the part that’s a big part of the process. Unless you sit down and figure out well this is what I actually need my property journey to deliver for me whether that’s that amount each year or that’s doing nothing and then something in four years time to make up that deficit” Mike 14:17
“It all just comes down to current state, where am I now and my future desired state, and my future desired state was a beautiful big home I had to decide and retiring by 50. I had decided what was most important to me the beautiful big home or retiring by 50” Jenny 14:57
“For me what works is creating habits. Sometimes people say change my mindset or you know talk about resilience and those sorts of things. Everything is habits. If you can build habits daily and they become the norm they become easier so they take less of this too, they take lesser capacity, you actually build your capacity” Jenny 21:15
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.