Surviving the wave to financial independence through property investing, with Paul Glossop – Ep. 86

In this episode of the Geared for Growth podcast, Mike is joined by Paul Glossop, Buyer’s Agent and author of “A Surfer’s Guide to Property Investing” to talk about the evolution of the property investor and why it’s important to understand where you want to go with your investment portfolio.

As a passionate surfer, Paul likens the freedom of surfing to the lifestyle choices afforded by successfully building a property portfolio. His book “A Surfer’s Guide to Property Investing” was hugely successful, building on his own experience of setting his objectives and using investment properties to work towards financial independence.

In this episode, Mike and Paul discuss the merits of starting small, with properties in the $300k price bracket in regional metro areas. They consider the pros and cons of steering away from higher value properties, including the sacrifices you might make in terms of longer term capital growth. Paul believes that you can’t start too soon when it comes to building a portfolio, and it’s not the number of properties that you own that is relevant, but rather obtaining freedom with the least amount of moving parts.

With clear examples, Mike and Paul look at the number of properties you really need in your portfolio and talk about the exit strategy that you need to consider even as you’re in the acquisition phase. This podcast is designed for anyone looking to create more options in their life, particularly if you’re sitting on the sidelines waiting for a time to get into the market.

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Mike is joined by Paul Glossop, Buyer’s Agent and author of “A Surfer’s Guide to Property Investing” to talk about the evolution of the property investor and why it’s important to understand where you want to go with your investment portfolio. As a passionate surfer, Paul likes the freedom of surfing to the lifestyle choices afforded by successfully building a property portfolio.

• The metaphor of finding the exit
• Financial independence and the freedom to do what we really want with our lives
• Surfing as a metaphor for freedom
• Regional markets with robust populations
• The sacrifices you might make at a lower price point
• Starting low and moving into a more premium market
• Why the number of properties you own isn’t relevant
• The process of gaining financial freedom and what it looks like?
• Knowing what you want out of property investing

“Here’s where we start, here’s the options that you have available and here is ultimately what my objectives and what property investment had as far as my own goals, and how it’s taken me to where I really want to get to, and the values that come with getting to a particular point from a financial freedom standpoint” Paul 00:59

“Ultimately if we get to the point where property can deliver what it needs to deliver to them -wake up in the morning or set your plans for the next week or the next month, next year to say look my goal this week is to spend X amount of time with my kids or X amount of time with friends or make sure we’re diverging further into pastimes that might be giving back to community” Paul 3:00

“Markets with robust 1-2 million population within half an hour, 45 minutes of major employment hubs, lifestyle centres, school catchments, universities, hospitals, all those things that you want to look for, for established long term growth” Paul 5:11

“Start with what you can work within and then try to find solutions there as opposed to think well I don’t have solutions in that budget so I might as well just sit back” Paul 6:28

“I guess our philosophy from a buyer’s agency in a property investment standpoint is certainly not the person with the most amount of property wins the game, it’s certainly the person who

gets where they need to get to with the least amount of moving parts typically is the one who’s gonna get to that that ultimate objective far quicker and far more seamlessly” Paul 12:39

“You’re probably gonna have a couple of properties that will be sold off or reducing the debt on the remaining portfolio and that remaining portfolio is the properties that ideally are typically only ones that are high cash flow, potentially value add” Paul 24:47

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