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Jan Somers
In today’s show, we are privileged to be joined by best-selling author, educator and one of the biggest names in Australian property investment, Jan Somers.
Jan has literally been responsible for changing the lives of thousands of everyday Australians through her books and teaching on property investment. In this interview you will hear timeless and practical wisdom that you can put to use immediately and she also shares with us her amazing journey (including the mistakes) to property success.
This episode is about the fundamentals of good property investing that stand the test of time and so much more!
SHOW NOTES
1:19 Who is Jan Somers?
4:30 Jan shares her definition of wealth
5:45 Getting started in property investing
7:14 Jan’s learns she can invest without paying off her home first
11:50 Mistakes made throughout her property investing journey
13:24 The importance of priorities
18:00 Books that helped Jan
20:35 How her system and strategy developed
22:00 Does Jan’s simple philosophy work in today’s market
25:10 How to avoid the lies and get rich quick schemes
27:02 The mistakes that people just starting out today are making
27:53 The compounding effect of time and debt to build wealth
29:00 Isn’t it just easy to wait for the pension?
32:00 The importance of knowing where to spend and where not to
33:05 Choosing a financial adviser
34:14 Why Jan became an author
38:16 Success stories from people who have read her books
40:10 Start with goals and the right attitude
43:10 Advice for those who want to take the plunge and start investing
44:45 Location and infrastructure
46:26 Which is better: A property with a low rental yield but a high capital growth or a property with a high rental yield but a low capital growth?
47:24 Is it better to have many lower priced properties or fewer high priced properties?
50:22 The steps to grow a portfolio and 2 ways to build equity
51:40 Student questions
1:03:25 Episode Recap
1:05:52 Suburbs Against the Clock
“Wealth is the abundance of what gives you pleasure.” – Jan Somers
“Stick to the formula, stick to the basic property, do what you enjoy doing and don’t go out of your comfort zone.” – Jan Somers
“A location that’s handy with a decent amount of infrastructure makes the best investment.” – Jan Somers
RESOURCES AND LINKS
- Jan Somers Book: Building Wealth Story by Story
- Jan Somers Book: Building Wealth Through Investment Property
- Robert Allen Book: Nothing Down for the 2000s: Dynamic New Wealth Strategies in Real Estate
- Thomas J. Stanley Book: The Millionaire Next Door
ALSO MENTIONED
- Somersoft PIA Software
TWEETABLES
[bctt tweet=”Luck comes with a lot of hard work – Jan Somers”]
[bctt tweet=”I never put at risk what I already have – Jan Somers”]
[bctt tweet=”Good debt is ok – Jan Somers”]
[bctt tweet=”It’s not about what you earn, it’s about what you do with what you’ve got – Jan Somers”]
