An Interview with LeoT

[LeoT]

I have just started checking him out on YouTube after Rolf Latham had mentioned him. I will definitely be listening to a lot more of him. Might even invest in the audio books as I will be driving around the planet twice this Xmas!

His delivery is very engaging and humerous, so much so that even the misses likes to listen to him

Awesome Sandyfeet

Yeeah isnt he hilarious? I love his no bs, no excuses, no nonsense approach. If the wife likes it too you must be onto a winner!

Leo

 

[Jboz]

Awesome Interview, your answers are really informative also.


You mentioned in a previous answer the following to develop:

1 Personal development
2. Business principles/finance
3. Property investment specifics
4. Negotiation/psychology

For 1. I am currently checking out Jim Rohn and Les Brown stuff you recommended.

What resources/books do you recommend for the other 3?

Thanks

 

[LeoT]

Awesome Interview, your answers are really informative also.


You mentioned in a previous answer the following to develop:

1 Personal development
2. Business principles/finance
3. Property investment specifics
4. Negotiation/psychology

For 1. I am currently checking out Jim Rohn and Les Brown stuff you recommended.

What resources/books do you recommend for the other 3?

Thanks

Hi Jboz,

I would read all yardney books, lomas books, and the other aussie authors. Probably at least 15 book. If thats too much for you then 2 yardney and some lomas. Its not because i agree with 100% of what eigher of them say, but they both cover the basic topics.


Cheers

Leo

 

[MIW]

Thank you for a wonderful interview I always enjoy them and I totally agree with you about the mindset. I call it personal development, the more I worked on myself the better I did financially and in personal or family life too.
Your story sounds quite similar to a story I read in a magazine, few years ago, about a pharmacist from Melbourne, perhaps that's you? Anyway, best of luck in all your future endeavours and keep sharing as not too many people do.....
As you say, we will always keep on learning and I certainly learned few more things from your interview, so thank you!

 

[ZOMG]

Hi LeoT

Second time reading through the interview, inspiring stuff mate. Was wondering with your IPs, are they all in one state or have you diversified?

Seeing as how the overall feedback on the forums so far seems to suggest investing in Brisbane or Adelaide vs Sydney, what are your thoughts on this?

 

[LeoT]

HI ZOMG.

Glad you found some value in it mate. Makes it worthwhile to write it.

Yes your correct, the stock I hold is diversified across several states. Main reasons are to reduce risk and to best ensure that at least part of my portfolio is having decent growth at some time or another so the wealth building doesn't slow too much (if possible).

Personally I would be looking at Brisbane but of course no one has a crystal ball. try to find something you can add value to, eg cosmetic reno, subdivision etc. Its really getting harder to secure the good sites 10-12km from the CBD but I don't think impossible, yet. I guess there will always be suburb markets in other states that will also do well, even though the state itself might have very modest growth. But for me at the moment, I'd be looking at Brisbane, 10-12 km from CBD, buy under market value (actually quite hard at this stage I think) and ability to add value. Also a house with 3 bedrooms, avoid units. Best chance for CG IMO for that particular market.

Of course I don't know your goals and personal situation so goes without saying it needs to correlate with that.

Hope this helps a little.

Cheers

Leo

 

[Tano]

Great! Let me know what both think.

Cheers

leo

Leo. What do you think of this book. I've read it twice http://www.amazon.com/Mindset-The-New-Psychology-Success/dp/0345472322

 

[LeoT]

Hi Tango,

I haven't come across it yet but going to order it on line in the morning mate. Thanks.

What's your opinion on the book?

cheers

leo

 

[Tano]

Hi Tango,

I haven't come across it yet but going to order it on line in the morning mate. Thanks.

What's your opinion on the book?

cheers

leo

Very powerful and inspiring. Its useful for everyday life. Its very broad and touches on business. personal life, child rearing etc. Its got 700+ reviews with an average of 4.5 stars. Rated #4 in investing category. I think you need your mindset and personality as a base before you start reading all the investing and property books.

Its a good supplement to my other favourites (How to win friends and influence people And Think and Grow Rich)

 

[LeoT]

[QUOTETano;1258462]Very powerful and inspiring. Its useful for everyday life. Its very broad and touches on business. personal life, child rearing etc. Its got 700+ reviews with an average of 4.5 stars. Rated #4 in investing category. Looking forward to reading it mate.

I think you need your mindset and personality as a base before you start reading all the investing and property books.
To a large extent I agree with that comment. Otherwise its just like a sick person who is underweight and has a sore leg, wanting to run a long marathon. How well is he really going to do? hence, why the statistics clearly shows, clearly shows without dispute that its only a VERY small percentage of 'investors' who get past 3 properties and build any meaningful wealth. Now if that runner took his vitamins, got to a healthy weight and did some training before the event, I'm sure the result would be very different.

Cheers,
Leo
[/QOTE]

 

[aussieB]

Very nice interview and thanks for replying to every single post. I am very inspired by you.

Cheers

 

[LeoT]

Very nice interview and thanks for replying to every single post. I am very inspired by you.

Cheers

Hey AussieB,

Just glad you found some value in it. that's very rewarding for me. Do you invest in property?

Cheers

leo

 

[aussieB]

Hey AussieB,

Just glad you found some value in it. that's very rewarding for me. Do you invest in property?

Cheers

leo

Not at the moment. I am busy accumulating deposit for an IP. I just bought a PPOR though. Took some advice on the finance section and pushed my broker to make the loan an IO. Although I understand very little about how this will benefit me when I am geared to buy an IP, I am trusting the solid advice of the brokers here.

Discussed my loan structure with a mate who also just bought a PPOR. We almost had a fight about what a bad decision I was making by splitting my loan to a fixed and variable (IO) and paying 'so much of interest' and he cursed me I will never be able to buy another property! And all this from a good friend. So when I read about your mindset stuff and how people will pull you down (I am hoping that is all this is and that his curse wont bear fruit ), it rang right through me. Now I am even more determined.

With more and more of learning, understanding, a few blessings and good wishes from men like yourself - I aim to purchase my first IP this year

cheers

 

[LeoT]

Not at the moment. I am busy accumulating deposit for an IP. I just bought a PPOR though. Took some advice on the finance section and pushed my broker to make the loan an IO. Although I understand very little about how this will benefit me when I am geared to buy an IP, I am trusting the solid advice of the brokers here.

Discussed my loan structure with a mate who also just bought a PPOR. We almost had a fight about what a bad decision I was making by splitting my loan to a fixed and variable (IO) and paying 'so much of interest' and he cursed me I will never be able to buy another property! And all this from a good friend. So when I read about your mindset stuff and how people will pull you down (I am hoping that is all this is and that his curse wont bear fruit ), it rang right through me. Now I am even more determined.

With more and more of learning, understanding, a few blessings and good wishes from men like yourself - I aim to purchase my first IP this year

cheers

HI AussieB,

I wouldn't let your friend get you down in the slightest. there is no reason why having a split fixed and variable IO loan would as your friend says " never let you buy another property". Did your broker advise you to do this? regardless, the best thing you can do is to buy some books and start your learning. You will also encounter many, many jealous, envious, negative, losers in life who will try to deter you from your journey, mostly so that they can feel better about themselves not achieving their own dreams. Run as fast and as far as you can. Those ppl will destroy your mindset and kill your dreams. Watch this clip if you have time mate.

https://www.youtube.com/watch?v=KlUMrzwmbyo

Good luck!

Leo

 

[aussieB]

Thanks mate. That link is dynamite !

 

[devank]

Leo... TBH at the beginning I thought you were a young & bold tradie! Never thought you would be 'mindset' person! Got that totally wrong

 

[J_aco]

Discussed my loan structure with a mate who also just bought a PPOR. We almost had a fight about what a bad decision I was making by splitting my loan to a fixed and variable (IO) and paying 'so much of interest' and he cursed me I will never be able to buy another property! And all this from a good friend.

(sorry Leo for hijacking your thread a little)

AussieB mate: I was glad to have been pep talked by a friend to get into property investment... For which then I stumbled across SS and here I am...

But it's the exact same friend, who half-ridiculed me for wanting to be ambitious, wanting to build a portfolio of IPs with IO loans/LMI etc.

She told me to not be so ambitious, save a larger deposit to avoid LMI, do P&I etc (and this is IP we're talking about not PPOR)

Anyway, all the best with your IP journey mate!

 

[LeoT]

Leo... TBH at the beginning I thought you were a young & bold tradie! Never thought you would be 'mindset' person! Got that totally wrong

Hi Devank,

What gave you the impression i was a tradie? haha hell no, im not patient enough for that.

cheers

Sam

 

[LeoT]

But it's the exact same friend, who half-ridiculed me for wanting to be ambitious, wanting to build a portfolio of IPs with IO loans/LMI etc.

She told me to not be so ambitious, save a larger deposit to avoid LMI, do P&I etc (and this is IP we're talking about not PPOR)

!

Hey Jaco,

Glad you didnt listen to her mate. Good on you. The thing is, the second you put yourself in the say..1% of society, automatically 99% of most ppl wont be able to identify with you, understand your reasoning and decisions etc. Its pretty normal. the important thing is to stay well clear of most of these ppl. They are dream destroyers! And they would have you work 9-5 for the rest of your life and retire on peanuts. One of the most important lessons i leant was never underestimate the power of the people you mix with.

Cheers

leo

 

[MMack88]

Hi LeoT,

Thanks for sharing so much in your interview, it was great to get a few insights - I started a forum account just so I could post here. My partner and I live in Brisbane are currently saving for a place. I'd like to ask what your living arrangements were when you first started? I.e. we're currently renting and not too sure whether we should buy an IP and continue renting, buy a PPOR, or buy an IP to live in with a few tenants, with intention to buy a PPOR as our portfolio grows. How did you approach this?

Cheers,

MMack