Taking control of your personal finances, becoming wealthy or successful in property investing, is simple, but it’s not easy.
That’s not a play on words. 
It’s simple if you know how, but it’s not easy because a lot of investors make mistakes. They’re fussed about the timing and the price they’re going to pay for their property, but those factors may not matter as much as you think.
That’s the topic of today’s chat with Stuart Wemyss, who’s going to explain that it’s what you buy that matters, not when or how much you pay.
We’re also going to talk about the characteristics of investment-grade property and the changing world of finance.
Then, in my mindset moment, I’m going to talk to you a little about an important subject – failure.
Highlights from my chat with Stuart
Ego plays a big part in what and when we buy: everyone wants to look smart
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But we need to look more at the factors that the evidence says are important
And less at the factors that are just based on emotion or gut feeling
An advisor should be able to verify or substantiate their methodology
Stuart looked at the outcomes of both buying below intrinsic value and buying above intrinsic value
High performing investment-grade properties were less sensitive to how much you paid for the property
Investing is a long game and quality is everything
3 attributes that Stuart believes properties need to be investment-grade
Strong land value component
Scarcity
Past growth of the property and similar nearby properties
Common traits of successful investors
Consideration of risk
Focus on quality
Links and Resources:
Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us
Stuart Wemyss – Prosolution Private Clients
Stuart’s article referred to in the Podcast – Property market expectations & the impact of Coronavirus
Stuart’s Book – Rules of the Lending Game
Some of our favourite quotes from the show:
“We both agree that cash is important to keep you in the game, but it’s capital growth that’s going to get you out of the game.” – Michael Yardney 
“If you’re getting free advice, then in fact, you’re the product.” – Michael Yardney
“The best way is to reflect on your failures and focus on the lessons that you’ve learned and the person that you’re going to become, rather than spending your time trying to avoid failure.” – Michael Yardney
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