In episode 10 of the Property Investing Journey, Mike is joined by Julie Crockett, CEO and Founder of Australian Property Investment Solutions and experienced Buyer’s Agent, to talk about the importance of having a plan when it comes to investing in property.
Mike and Julie kick off this episode discussing the significance of a financial strategy for women, in particular, and how women’s economic circumstances may be impacted through gender pay disparity or time out of the workforce. Julie relays statistics of the proportion of women with a property plan in a recent financial group she facilitated, and how this relates back to the percentage of investors building their portfolios with multiple properties.
In Julie’s view, a modest income need not be an impediment to successful property investment. She shares with Mike two examples of clients she has worked with who have successfully modelled their property strategies to meet their varying circumstances. Julie explains in clear terms the steps she believes to be important in creating and following a profitable investment plan.
Relevant to all investors, regardless of gender or age, this podcast is essential listening for anyone keen to ensure their property investing delivers the results they set out to achieve.
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Mike is joined by Julie Crockett, CEO and Founder of Australian Property Investment Solutions and experienced Buyer’s Agent, to talk about the importance of having a plan when it comes to investing in property. Julie explains in clear terms the steps she believes to be important in creating and following a profitable investment plan.
What we cover in this episode
- How the gender pay gap may impact your property strategy
- The proportion of the Ladies Finance Club with a property plan
- What do we mean by property strategy?
- Why the statistics of property investment are so low
- Examples of successful property investors
- Julie’s top tips for setting a property plan
“I think this is the most important step, and that is creating a property investing plan“ Mike 0:32
“Women, in particular, need to have a plan, as to what their investment journey is going to do for them “Julie 1:51
“So that finance and the person, the professional that you work with, can be key to you actually achieving that goal…it may not actually be getting the best rate, it might be looking at the best strategy to getting those three properties“ Julie 5:35
“The big one, I think it’s huge, is actually making sure that we have a great property manager in place at the end, because if anything is going to derail a property investment, and your property investment outcome, it’s going to be a really poor property manager“ Julie 10:15
“The reason why people get stuck at one property is because the plan just doesn’t include all of the moving points that it needs to, in order to execute the outcome” Julie 10:45
“If we’re mindful of the cycles that properties that go through, then we’re going to be able to hold for the long term and to be able to build a really good strong successful portfolio, yes it takes the plan, yes certainly takes action, and most importantly, it means that you’ve got to keep a laser sharp focus on what it is you are trying to achieve“ Julie 12:59
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