The Michael Yardney Podcast | Property Investment | Success | Money & You
About This Show
Are you looking for financial freedom or more choices in life? You're in the right place. Each week Michael Yardney shares smart property investment strategies as well as the success and personal finance secrets of the rich, in 20 minutes or less.
While Michael is best known as a real estate investment expert, he is also Australia's leading experts in the psychology of success and wealth creation and a #1 best selling author of 8 books. He frequently challenges traditional finance advice with innovative ideas on property investing, personal finance and wealth creation.
His wisdom stems from his personal experience and from mentoring over 2,000 business people, investors and entrepreneurs over the last decade.
Michael's message will be priceless regardless of the size of your real estate investment portfolio - whether you're just starting out or an experienced investor wanting to move to the next level, he will provide you a roadmap for real estate investing and financial success.
http://MichaelYardneyPodcast.com.Read more »
Most Recent Episode
Have You Considered a Property Joint Venture? | How the RBA Sets Interest Rates | The New Rules for Depreciation
< 1 day ago
Have you ever considered a joint property venture to help you get into property or get yourself to the next level? Many people are having difficulty getting into property or getting to the next level, and some people are considering joint property ventures as a way to get involved in property development. In today’s episode, I’ll discuss the pros and cons of getting into a joint property venture. Later in the episode, we’ll talk to Stuart Wemyss about how the Reserve Bank sets interest rates. If you’ve ever wondered what the RBA does every month and how it affects banks, this will interest you. Finally, we’ll hear Ken Raiss answer a question about depreciation. The information he shares should be of interest to you if you’re a property investor. What to consider before you get into a joint property venture: Money can change relationships. Don’t proceed with a joint venture if you’re not sure the relationship with a friend or family member can withstand the pressures of investing together. Put everything in writing before you get started. That includes your goals, each person’s responsibilities, who is contributing what, and how profits will be divided. Make sure that not only are you financially capable of taking on the investment, but the people you’re investing with are financially capable as well. Consider how the venture will affect your credit standing. You’ll get a third of the income, but you’ll be considered liable for the whole mortgage. Make sure that you’ve documented your exit strategy as well as your entry strategy. Protect yourself with life insurance and income protection insurance, in case of unforeseen complications. Property ventures aren’t necessarily a bad idea, and you shouldn’t rule them out. But look at them very carefully before proceeding. Some of the things I discuss with Stuart Wemyss about how the RBA sets interest rates: The Reserve Bank’s role in managing inflation and the exchange rate Why the Reserve Bank is unlikely to raise interest rates until inflation picks up How interest rates have changed over the years How the reserve bank decides what interest rate it’s going to charge The importance of interest rates when it comes to choosing a lender Can you still claim depreciation on the purchase of an established property? There are two types of depreciation: depreciation on the building, and depreciation on the fixtures and fittings On an established property, you can claim depreciation on the building, but not the fittings and fixtures If you do a renovation, you can claim the depreciation on the new cost that you’ve spent upgrading the property If you buy a new property, you can claim both types of depreciation If you have multiple earners on the title, you need a different type of depreciation schedule Links and Resources: Michael Yardney Metropole Michael Yardney Books Rich Habits Poor Habits Stuart Weymss Ken Raiss Some of our favourite quotes from the show: “Like it or not, when money comes into the equation, relationships sometimes change.” Michael Yardney “Rainy days can happen, so you may as well own an umbrella.” Michael Yardney “In the 80s and 90s, I managed to take part in some very, very significant property developments by choosing the right joint venture partners, and now I’m in the position to help my children get into property by partnering with them.” Michael Yardney Never miss an episode and keep up with all the good things going on at the Michael Yardney podcast by subscribing on iTunes. You can also subscribe to MichaelYardneyPodcast.com to keep up with the latest information including bonus material that comes out between the podcasts.Read more »