Lessons from a 50-year property veteran with Pete Wargent

Do you want to learn some investment lessons from somebody who’s been in the property game for almost 50 years?

You’d hope to get some great insights and perspectives, wouldn’t you?

Well, that’s what you going to get in today’s show, but it’s a little bit different from normal.

As you know I normally interview guests or have my little chats with you in this podcast, but I was recently interviewed by Pete Wargent, a regular on this show, for his new podcast.

And you won’t be surprised in learning Peter asked me some astute questions and got me to share some things I don’t think I have discussed in public before, including some war stories.

Peter is a great interviewer and I’m sure his audience got benefit from our chat, so I asked Pete for permission to run this particular episode of his show - Pete Wargent’s Property Pod - as part of Michael Yardney Podcast - so welcome to today’s show and enjoy.

Topics Pete and I Discuss:

• Michael’s childhood and family background
  • Michael’s family came to Australia from Israel when he was three
  • His parents got their first home when he was eight
• How the idea of property investment came to Michael
  • Michael was impressed by the real estate agents when his parents moved house
    • He thought that he wanted to do that as well
  • He also realized that his friends’ parents were wealthy compared to his and that they invested in real estate
• How Michael got the idea to put his experience and ideas into a book
• Why Michael thinks we self-sabotage
  • We feel we deserve a particular level of wealth (wealth thermostat) and sabotage ourselves when we rise above it
• The first house Michael bought and the price he paid
• How Michael would advise someone thinking of getting into the market today
  • Get into the property market sooner rather than later
  • Learn the importance of delayed gratification
  • Increase financial literacy
  • Don’t worry so much
• War stories from getting involved in commercial developments
• What Michael mainly focuses on investing in now
• What Michael’s endgame is
  • No longer investing for himself
  • Instead, he’s setting up for intergenerational wealth
  • Charitable giving is also important
• What Michael thinks will happen to the property market next year and over the next 10 years
• What Michael thinks of the upcoming election

Links and Resources:

Michael Yardney

Metropole Property Strategists

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Subscribe to Pete Wargent’s Property Podcast on Apple here or Spotify here

Shownotes plus more here: Lessons from a 50-year property veteran with Pete Wargent

Some of our favourite quotes from the show:

“I saw things at home and I saw the way other people did things, and I thought no, I actually want to do it like my friends’ parents were doing it.” – Michael Yardney

“I’d suggest that the sooner you get into the property market, the better.” –  Michael Yardney

“I bought my first property in 1971 or 1972 – and now after 50 years, I finally got it right.” – Michael Yardney

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