The Next Property Millionaire FREE e Book

Dear Reader, Congratulations on taking the first step towards financial freedom by purchasing purchasing our book. It tells us that you are ready ready to begin the journey to becoming The Next Property Millionaire and taking the challenge. We know know where you are at; you are hungry hungr y and have have a thirst for knowledge and information and are eager to get clued up and put what you have learnt into action. Along the way, way, we will be there as your your coaches and mentors to make it easier for you. you. There is nothing like like having excellent support and encouragement to help you succeed. Learning property investing is easy when you know how to do it. If you you follo follow our system system you you will acquir acquiree the right mindset, you you will think like like a property inv investor, estor, you will acquire the knowledge as well as the skills and strategies to make it. There is no doubt about that. So,, we encourage So encourage you you to get started now now. Immerse yourself in the book and read it more than 10 times.Yes, times.Yes, 10 times! Why? Because that’s what Dave did with some books and this helped him build a $27 million plus property portfolio over the last 10 years. Enjoy Enjoy your your challenge and and most importantly, importantly, be committed and have fun! Toney and Dave

Dear Reader, Congratulations on taking the first step towards financial freedom by purchasing purchasing our book. It tells us that you are ready ready to begin the journey to becoming The Next Property Millionaire and taking the challenge. We know know where you are at; you are hungry hungr y and have have a thirst for knowledge and information and are eager to get clued up and put what you have learnt into action. Along the way, way, we will be there as your your coaches and mentors to make it easier for you. you. There is nothing like like having excellent support and encouragement to help you succeed. Learning property investing is easy when you know how to do it. If you you follo follow our system system you you will acquir acquiree the right mindset, you you will think like like a property inv investor, estor, you will acquire the knowledge as well as the skills and strategies to make it. There is no doubt about that. So,, we encourage So encourage you you to get started now now. Immerse yourself in the book and read it more than 10 times.Yes, times.Yes, 10 times! Why? Because that’s what Dave did with some books and this helped him build a $27 million plus property portfolio over the last 10 years. Enjoy Enjoy your your challenge and and most importantly, importantly, be committed and have fun! Toney and Dave

How to be…

How to start building a  Multi-Million Dollar Property Portfolio  in just two years

Toney Fitzgerald and Dave Dorian

While all attempts have been made to maintain accuracy of any information in the book, it is known that there is always constant change in Real Estate/Property Investing. We suggest that you regularly visit our website www.thenextpropertymillionaire.com.au for any updated information. Thank you.

Printed and bounded by McPherson’s Printing Group 32 Morrice St, Lane Cove, NSW 2066 Web: www.mcphersonsprinting.com.au Copyright © Toney Fitzgerald and Dave Dorian 2008 First Published 2008 Printed in Australia All rights reserved. Except under the conditions described in the Copyright Act 1968 of Australia and subsequent amendments, no part of this publication may be produced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise, without the prior permission of  the copyright owner. The Next Property Millionaire ® is a registered trade mark - Trademark number 1208491 Toney Fitzgerald and Dave Dorian The Next Property Millionaire ISBN: 978-0-646-49627-6 Cover Design by Rick Lum – www.ricklumdesign.com.au Grateful acknowledgment is made to people and companies mentioned in this book. For more information about special discounts for bulk purchases, please contact The Next Property Millionaire at www.thenextpropertymillioniare.com.au Disclaimer While all attempts and efforts have been made to verify information provided and to ensure the accuracy of information contained in this book, neither the Author nor the Publisher assumes any responsibility for errors, omissions, or contrary interpretation of the subject matter herein. This publication is not intended for use as a source of legal, business, career or  psychological advice.The Author and the Publisher assume no responsibility for any injuries suffered or damages or losses incurred during or as a result of following this information. All information should be carefully studied, researched independently, and clearly understood before taking any action based on the information or advice in this book. All users are advised to retain competent counsel to determine if the information contained herein is appropriate for them. The Author and Publisher assume no responsibility or liability whatsoever on the behalf  of any Purchaser or Reader of these materials.The Purchaser or Reader of this publication assumes full responsibility for the use of these materials and information.

Thank you for purchasing – The Next Property Millionaire!

Contents

Introduction About this book Dave Dorian’s story Toney Fitzgerald’s story How to use this book

1 6 7 10 15

PART 1 Back to basics It’s all in the mind If you could, how would you change your life? Let’s face facts Examine yourself Money…friend or foe? Truth vs. beliefs The buck really does stop with you Playing the blame game Understanding the power of choice Make yourself promises Achieving meaningful change Finding the unique you What do you really want? The path to wealth Making it happen…a simple set of rules

17 19 23 27 30 33 36 39 42 44 46 48 50 53 56 60 63

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PART 2 Why the property market? Tuning in…some basic rules Before you take the plunge… Develop your skills The tools you will need

79 81 85 90 102 105

PART 3 Getting into action The first steps…buying your first investment property Time to expand…growing your real estate portfolio Getting serious…going full time

161 163 174 185 192

PART 4 The steps to wealth

197 199

PART 5 The secret to our success Different investing techniques we use Risks and pitfalls

207 209 217 225

Glossary of common terms Templates and Checklists Buying ‘OFF THE PLAN’ Purchase Offer as used by a Chat Club Member Property Selection Grid FREE - Valuation Request Form – External/Internal Essential Reading A final word

229 234 234 236 237 240 241 242

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Introduction

Congratulations on opening this book and making a start on the road to becoming The Next Property Millionaire and building  your wealth nest egg.There is no denying that it is going to be an eventful journey and one with many hills and turns along the way. It’s a tough challenge however, we are sure you will tackle it head-on. Sometimes the going will be tough and sometimes it will be easy but one thing is for sure, you will be faced with making decisions as you reach crossroads, forks or T-junctions. Where you end up has a lot to do with the decisions you make along the way. The important thing is that you have to make a start if your  intention is to end up somewhere other than where you are right now.  You have made the choice to read this book and that tells us  you are ready to gain the knowledge, educate yourself and start on the road to becoming The Next Property Millionaire – you have begun the journey today – and that in itself is commendable. The journey to become The Next Property Millionaire must have a beginning, and that beginning is usually a tentative one. Every journey starts with a single step.You have to take one step at a time. Others may quickly follow, but there still has to be that first one.

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So, what else does a traveller usually need when embarking on a journey? They would need a road map to show them where their  point of departure is, which roads to take and where their  intended destination is. How else would they know in which direction to head? They would need to have some form of transport and include items such as luggage, food, drink, communications equipment and probably some company to take on the journey. In addition, there are other more fundamental things they would also need before setting out. They would need to know how to drive if  they were planning on travelling by car, they would need to know the rules of the road, and they would need to have made some preparations such as doing basic research into their  destination so they would know what to expect when they arrived. Having their car serviced by a competent technician would also be advisable if they wanted to minimise their chances of not arriving on time. It is no different on a journey to becoming The Next Property Millionaire and building your wealth nest egg.  You need to take stock of where you are right now; you need to have a good understanding of your current situation. This, incidentally, is one of the strongest motivators for change because most people are simply not happy with their current situation and resolve to do something to change that. When it comes to building wealth, you don’t want to retire into poverty.  You need to develop a plan of action; one that you believe will deliver your desired result.You also need to brush up on the skills  you are going to need. If your skills base is deficient, you will need to acquire those skills.This is usually where the first obstacle rears its head.What skills will you need and where do you learn them? Most people faced with this situation ask around.They talk to family and friends. They discuss things with colleagues and www.thenextpropertymillionaire.com.au 2

neighbours. Usually at this point, they unwittingly make their  first mistake. Think of it this way: if you wanted to know how to lose weight, would you consult with someone who was obese? Or if    you wanted to start a business and become a business entrepreneur, would you consult with someone who had a string of business failures? Of course not. How would they be able to help you if they couldn’t help themselves? Therefore, why would   you refer to family and friends in your quest to find out what skills you will need to grow your wealth unless they were already hugely successful and wealthy? Surely you would find someone who already was successful so you could learn from them? We tend not to do what we all instinctively know we should because of our conditioning. We are conditioned to think and behave in certain ways.This is one of the main reasons why most people remain battlers all their lives. Ask yourself: do you want to change your current financial situation? If you are like most, the answer will be yes. Have you ever read books by entrepreneurs who have already made it? Have you ever attended inspirational seminars and left feeling refreshed, stimulated and keen to turn a new leaf? Again, the answer probably is an emphatic yes. But here’s a more thought-provoking question: do you really know what you need to do to change your current situation? Think carefully about this before you answer. If you are like the vast majority of people who have faced this vexing question, the answer will most likely be that you do know what you need to do. The real problem will be that you simply don’t know why you don’t do the things you need to do to change. This may very well be the first time you have thought about it, and if so, congratulations because it means you will be about to make one of the most powerful discoveries of your life.You Introduction 3

see, when you discover something new, you have a shift in the way you think, your mindset changes and your life can radically change in an instant. Identifying the problem is always the easy part. It’s called inertia. Finding the solution is a little more complicated and this is where this book will help. But let’s look a little closer at the word ‘inertia’ now to ensure you fully grasp the reasons you are seemingly locked into a situation not of your liking. The meaning of the word ‘inertia’ may not be immediately apparent. The Macquarie dictionary describes inertia as: inactivity, sluggishness, apathy, disinterest and indolence - all words that mean the same thing. If you were suddenly able to conquer your inertia, how would that change things? Comprehend this: it would make you unstoppable. Imagine for a moment what you could achieve if you were unstoppable. Think of the things you could do and have. Wouldn’t life become a joy if nothing could come between you and your dreams? Think what it would be like to live the life of  a millionaire or even a multi-millionaire property investor and experience the absolute financial freedom that comes with it. How would that feel? So, what does it take to overcome your personal inertia? What does it take to change your life forever? Understand that becoming unstoppable involves a radical, permanent life-long change. It requires an uncompromising conversion; a personal turn-around or a transformation. We call this conversion metanoia, which is nothing more than a radical change of mindset.To bring this about we have to break through the inertia barrier, and we do this by means of the empowering promise. As you progress through this book, you will learn how to achieve a radical change of mindset. This is where possibility starts.You will learn the secret to gaining the personal source of  www.thenextpropertymillionaire.com.au 4

power that we call the empowering promise and you will discover that it is this, and only this, that will help you break the inertia barrier. Before we go any further, it is time for a quick word about getting rich.What does getting rich actually mean? What does it mean to you? Here are some lessons we have learned through personal experience. Lesson 1: Getting rich is a choice. Lesson 2: Personal happiness is a product of the choices one makes in life.

Lesson 3: Money is, and always has been, simply a means of being able to make those choices.

If you have made it to the end of this short introduction, congratulations, you are already well on your way to achieving change. It is your choice whether to read on…

Introduction 5

About this book

Things don’t just happen. Everything has a cause and every cause has an effect. This is one of the basic laws of the universe. It is  just how things are. Successful people understand this and make use of it to their  advantage. But this ‘formula’ is not just available to a select few; it is there for us all to use. Of course, this means that we all use it in our  daily lives whether we like it or not; whether we want to or not. It is a fact of life. How then does it benefit those more successful than the rest? The difference has to do with using this law of nature to achieve the results you want. Doing something sure will result in something happening (or not happening) however is the result, the result you want? Most people make decisions, take actions, choose options or  procrastinate every day of their lives and then wonder at the situations they find themselves in. The trick is to take the decisions or actions that will bring the results you want. This book is a good example of this. It is a product of the experiences, decisions and actions of two successful individuals. This is how it happened, as seen from their perspectives:

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Dave Dorian’s story A few background details will show that I am from a typical working class background. I was born in England and was educated in local schools. Like most boys my age, I loved sport but did not exhibit any great academic flair or love of homework. When I was approximately 15 years of age, my parents paid for me to attend a catering college in London where I spent the next two years learning a trade. At the time I didn’t feel particularly lucky or privileged but the training did enable me to get a good job. I went to work for the next three years at the Hyde Park Hotel  in London. I was forced to leave and help out in the family greengrocery business when my father became ill. He then passed away at only 56 years of age. I married Paula and migrated to Australia to begin a new life. Like many newlyweds, we were   young and poor and needed to borrow money for the honeymoon, the trip out to Australia and a car to go looking for  work. Good health, a sound work ethic and lots of determination meant I was able to find plenty of work over the next few years in various grocery related businesses such as Loves Bakery, Belmore  Smallgoods, Streets Ice Cream and Dairy Farmers Ice Cream. We then branched out into small business, first buying a small supermarket in Milperra, which was followed by the purchase of  a Tennis and Squash Centre in Annangrove. By this stage of our  lives we were in our late thirties with growing children and feeling quite proud of what we had achieved. The high interest rates of the 80s however, soon shattered any sense of  complacency that we and many others like us may have had, and we were beginning to feel the pinch. Ideas of financial stability and a comfortable retirement were swept away as many of our clients, customers and friends went broke and even bankrupt. The debt burden at the time was

About this book 7

almost crippling and we decided to sell the sports centre. The following twenty years were spent developing a health food distribution business, which was run as a family concern. We were once more caught up in a cycle of hard work, long hours and little reward. Any prosperity we thought we had was later  proved to be only a facade. Our business grew to be one of the largest of its kind in Sydney at the time, with a workforce of sixteen people. Fourteen-hour days left little spare time.We were too busy to see past the immediate problems and realise the severity of the financial plight we were in. Our accountant was the one who made us recognise that financial ruin was pending. We, in fact, had very little to show for a lifetime of effort. Our business had sucked us financially and emotionally dry and left us facing an impoverished retirement.This news came as a terrible shock. I vividly remember that day on July 16th 1998 when we set off for the beachside haven of Woolgoolga, just north of Coffs Harbour. Free from phones, salesmen, orders and bills we hoped we could somehow find a solution to our financial problems. Within two days of arriving, we stumbled upon an unlikely rescue package. It came in the form of a book called Rich Dad  Poor Dad by Robert Kiyosaki, which was being widely discussed in the media at the time. Paula had happened to see it on the shelves of a bookstore and bought it for me to read. It was a book about property investing and while I had never  been a great reader up until that time, I was quickly fascinated by what it had to say. The style was easy to read and the basic message so logical and straightforward, that it struck a chord in my thinking. I read and re-read it over and over during the next few days while lazing on the beach.As I did, my perspectives and attitudes began to shift.The feasible alternative it offered seemed achievable even for someone who was 56 years of age as I was at www.thenextpropertymillionaire.com.au 8

the time. Reinvigorated, I left far more hopeful and buoyant in spirit than when I had arrived. Once home, I called the family together and stressed how brilliant I thought the book was. I then began to study in a way I had never done before, even at school. At first, I read for approximately thirty minutes per  day and then increasingly to one, two, three, four and finally up to five hours a day. I encouraged everyone in the family to also read the books about property investing that I had been reading, especially those by Kiyosaki. I am actually a slow reader and so it might not take others as long as it took me but I read carefully and soaked up the advice that was being given. I had to get my reading time in before the day’s work began, which meant getting up at 3.30 am. Reading Rich Dad, Poor Dad proved to be a major turning point in our lives, marking a stage that represented a time before investing and a time after. Kiyosaki had presented a new perspective of the world, which snapped me out of the doldrums and sparked my thinking. I now look back on that period in my life and wonder whether it was because our time had come or  whether it was just that we were mentally and emotionally ready to take the advice that we discovered in the pages of that book. The important thing was that it gave me the courage to take active control of my life. Reading almost became an obsession over the next four  months, but through it I learned about a range of methods promoted by writers such as Robert G. Allen and Robert Kiyosaki. Given my age and situation, I needed low risk strategies, which prompted me to check the figures and projections advocated in the books before proceeding. Some books were particularly useful such as: • Bruce Davis – How to Build Riches • Sean O’Reilly - Anyone can be a Millionaire

About this book 9

• John L Fitzgerald – Seven Steps to Wealth • Jan Somers - More Wealth through Residential Real Estate • Robert G. Allen - Nothing Down for the 90s

These books offered reliable information and insight that helped minimise the risks and fears associated with investing. One in particular, Creating Wealth by Robert G. Allen became a virtual ‘dictionary’ in our household. In the early stages, I would rummage through this book until I found a precise answer to whatever query I had. While it isn’t a particularly ‘easy’ book to read, it contains invaluable advice. Although written from an American perspective,Allen’s recommendations are practical and grounded on personal experience, which meant they could be easily adapted to an Australian context. On one of those very early mornings when I was reading before going to work, I found what I was looking for. It was a simple, reliable plan that made everything seem to fall into place. Within the family, we discussed the ideas that were being proposed. I can still remember the date that a firm decision was reached. It was August 23rd 1998, when I declared that everything was going to change in the Dorian household.This is what I told them: “For the past 30 years you have been living with poor dad. He is gone forever. I want you to know that from this day forward you can forget about POOR DAD. I want you all to read this book so that you know what I am all about. From now on you are living with RICH DAD.The new me.”

Toney Fitzgerald’s story As the founder of the Lifestyle Aspirations Group, a specialised lifestyle coaching and education company, I was already successful in my professional field when a set of circumstances presented www.thenextpropertymillionaire.com.au 10

themselves that would ultimately lead me to meeting Dave Dorian of The Follow Me Chat Club, creating a business partnership and the co-authoring of this book.This was only because I chose to act on the opportunity, and in so doing, was able to partner up with Dave who is a property strategist that has acquired more than 100 investment properties in Australia and overseas. At this point in time, I made most of my wealth from starting and selling businesses and turning entrepreneurial innovations into sellable services and products. I had not yet conquered real estate or property investing, however that journey was on my radar screen and the intention was very powerful. Fortunately for me, I was well aware of the concept of  synchronicity, which is when two or more unrelated events happen in a meaningful manner. If you are unaware of what synchronicity is all about, synchronicity happens when the brain is on a mission, focused on seeking out events relevant to that mission. After writing my second book Don’t Bitch Just Get Rich, I was thinking about writing a book called Don’t Bitch Just Get Rich in Real Estate  when, in December 2006, I received an email that caught my attention and ultimately led to the creation of the partnership with Dave as it is today.The email was from The Follow Me Chat  Club asking if they could buy 50 copies of my book for their  members. I called the club and asked to speak to Dave Dorian, the founder, who told me that he was using my book to teach people how to get the right mindset to start and stay on track with property investing. He told me that he had created a mastermind group called the Let’s Get Rich Group 2007 , a group of inspired individuals who were aiming at becoming multimillion dollar property investors. He told me that he was taking his students through every chapter of  Don’t Bitch Just Get Rich and immersing them into the teaching within the book.This was to result in a meaningful and productive relationship with Dave. About this book 11

Following our discussion on the phone, Dave and his associate Fernando Mazzei met me at Deep Blue Bistro, a fashionable bistro in Coogee, a seaside suburb in Sydney. At that meeting they realised we were on the same wavelength and I was struck by Dave’s integrity; in fact, I found it very refreshing meeting someone like him as some people in the property industry are what you might call ‘a little dodgy’. Our discussion was inspiring to say the least; Dave told me his story about how he was broke at age 57 and retired at 60 and how he was able to retire by buying real estate properties. At 57 he experienced what I call a Metanoia moment, which is a powerful, life-changing experience; a point of departure from the old you to the new. Further on in the book I will cover this. At our meeting, he then proceeded to pull four books out of his briefcase and placed them on the table and explained how these books had helped to change his path in life from broke to rich. They were Rich Dad Poor Dad  by Robert Kyosaki, Creating  Wealth by Robert G. Allen, Don’t Bitch Just Get Rich by Me of  course (smile) and How to Grow a Multi-Million Dollar Property Portfolio - In Your Spare Time by Michael Yardney. What struck me more than seeing my own book in the pile was that they all looked like they had been chewed by the pet dog.This, I knew, was simply because they were extremely well used books. It was evident that Dave had totally immersed himself in them in order to master the teachings they contained. The books were full of yellow highlighted sentences, words were underlined and pencil notes were scribbled in the margins and at the end of chapters. Even the inside front and back covers were full of handwritten notes. I realised that Dave’s life at some point went through a radical change.When I listened to his story I understood that something drove him with such intensity that he became unstoppable. A www.thenextpropertymillionaire.com.au 12

massive shift had taken place; a radical change from old mindset to new mindset. After the meeting, several months went by before I heard from Dave again. When I did, it was an invitation to talk to his Let’s Get Rich Group 2007 , which I accepted. I must say that talking to the group inspired me, as they were all very keen to learn and to build a substantial property investment portfolio. Following the talk, Dave and I chatted further about how I might be able to get more involved in The Follow Me Chat Club, focusing on mindset and motivation. Who was to know that what followed would turn out to be a memorable business partnership decision that would radically change both our lives forever? Originally our thoughts were to continue to evolve and add some new content to the next Let’s Get Rich Group 2008  program. When we began with some ideas and developing the content for the program, it became clear to me that the name should be more specific; I felt the current Let’s Get Rich Group 2008  program didn’t really communicate what real estate investing was all about. I wanted something more specific, something inspirational, cutting edge and challenging and to take individuals on a property investing educational journey they would never  forget; a program that would change their lives forever as I am a great believer in long-lasting, permanent change. The more I thought about this, the more my mind began spinning; when you start your investment portfolio with just one property, I reasoned, you invariably buy more and duplicate the process until before you know it you have ten houses or more. And if the average value of each house is $300,000, you find  yourself with an investment that is worth a cool $3 million. So  you are now a gross worth millionaire – right? Or to be precise, a multi-millionaire! About this book 13

Then I came across an Internet reality TV show called The  Next Internet Millionaire . This gave me the idea to create a program and write a book with Dave that would be called The  Next Property Millionaire – Take the Challenge . And so, The Next Property Millionaire Program was born. I called Dave excitedly and told him about my idea. I told him we would teach people how to become millionaires through property investing. I would focus on the mindset and Dave would focus on the strategy; put those two ingredients together and you would have investment success and ultimately financial freedom. Dave was excited too. It made sense, because together, we just knew we had a recipe for successfully helping people become wealthy through property investing. The foundation had been laid and we were ready to build. I would contribute to his knowledge about mindset and how to use it effectively to achieve what most people want, while Dave would add what he had learnt about making millions from the real estate market; he had, after all, gone from being broke at 57  years of age to a millionaire at 60.The combination of these two important elements would equal investment success. We both knew we were on to something because Donald Trump says the same thing in the book Trump University Real  Estate 101: Building Wealth with Real Estate Investments.

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How to use this book

If you want to become The Next Property Millionaire, there are only two basic conditions that are required: 1. Guide your daily life with an entrepreneurial mindset, character and action plan. 2. Apply a systemic possibility-driven method to discover, create and harvest real estate value.

What you have in your hand is the idea that has now been turned into a book and a 2 year mentoring and coaching Property Investing Program. Think of this book as your road map.Think of it as a guide to achieving wealth, personal independence and financial freedom through the ownership of real estate. It is simply a guide that is based on our own personal experiences as well as those of  others. It is not intended to be the definitive guide to the subject because we don’t believe developing such a thing is possible. There are too many variables at play and also too many individual definitions of what the concepts of success or wealth actually mean. There are many ways of making a lot of money. You could choose to turn a simple business idea into a global brand name or you could embark on a career that pays really well.

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Alternatively, you could marry into money.You could even bank on winning the lottery or writing an international smash hit or  bestselling novel. The choice is yours. But once you have made the choice, you will have to live with the consequences. Many these days choose to invest in the property market, and for good reason. It is an appealing strategy that anyone can adopt to grow a sizable nest egg. This book could be just a starting point for you or it could be much more than that. Either way, that’s OK, as long as it helps  you achieve whatever you set out to achieve by reading it. One thing is for sure: we know you will find it inspiring, interesting, stimulating, challenging and informative. You may even find that it leads you to your own personal pot of gold at the end of the rainbow.

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PART 1

Back to basics

Why is it that some people have so much while others seem to spend their lives battling just to survive? Why do opportunities present themselves to ‘the lucky few’ while those who could do with a lucky break never seem to get wind of ‘the next big thing’? Have you ever stopped to think how it is that whenever you see the latest sports car cruising down the esplanade, the driver  invariably is a young good-looking person who seems to have not a care in the world and all the time to enjoy the carefree lifestyle that goes with it? Interesting thought, isn’t it? Then there are the rags to riches stories that appear in glossy magazines with regular monotony.Why do some people have all the luck? How many people do you personally know that this happened to? If you are like most, then the answer will most probably be none. Why is this? Is it because all these stories are made up? No, it really has nothing to do with that. Rather, it has to do with the reality you choose for yourself; the situation you ‘find’ yourself in. Let’s put it this way. Have a look at the people you hang out with. Look at what their interests are. How much on average do they earn? Chances are you are also in this category. If your  friends are all go-getters, wealthy entrepreneurs or property developers, chances are so, too, will you be. Alternatively, if you

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hang out with a bunch of losers, you will most likely also fall into that category. But let’s go back to the beginning. Right back to the time  you were born. For some of you, that will be a long time… Think, for a moment, about the scene. Your parents would have been ecstatic. They would have been full of joy, pride and hope for the future – your future. Every parent wants the best for their children and your parents would have been no different. Many even make great sacrifices for their children, sending them to schools they really can’t afford. And when you think of those newborn babies, lying there in the first moments of life, what is the difference between them? Not too much.They are essentially all born the same. Obviously there will be superficial differences and some may be born with defects, but essentially they all have the same fundamental potential as human beings.Their brains all have unlimited power  and capability, they all have the same wonderful range of  possibility open to them and they all have no existing baggage. They are all making a fresh start in life. As the moments tick by, things start to happen that will have a profound impact on their little lives. Their baggage begins to accumulate. They will be dressed in particular ways with clothing specific to their nationality or culture. This alone will influence their  futures.Then they will begin to have a range of influences aimed at them from family, friends and those around them. Cultural differences will play a significant role. Language, customs, beliefs and value systems will all systematically influence their for mative  years until a stage is reached where this will be their very reality. There’s nothing wrong with this; it’s just the way it is. The main point here is that this ‘reality’ is not the real, the ultimate, reality of the world. It is merely their conventional reality. But most people don’t realise this. www.thenextpropertymillionaire.com.au 20

The important thing to understand at this point is that we all are born with the same potential as human beings. We all have unbounded possibilities.We all can achieve amazing things if we really want to. If you want to become The Next Property Millionaire – you can! Forget about privilege – we are all privileged to be human beings. Just ask any dog or pig (if you could) and see if they would swap places with you. They would most probably trade their existence for even the most wretched human life in a flash. What about spiders? Or snakes? Would you rather have been born into this world as one of them? But it gets more exciting.Take us humans for example.There are countless examples of people who have risen to fabulous positions from obscurity and poverty. As proof, let’s look only at those at the very top of the money pile. It’s enlightening to learn that two-thirds of the world’s billionaires made their fortunes from scratch. Take Oprah Winfrey for example. She grew up in poverty on her  grandmother’s farm. Then there is J.K.Rowling, author of the Harry Potter books. She was receiving welfare payments when writing her first Harry Potter novel. So if having loads of money isn’t a prerequisite to making it onto the world’s rich list, maybe it has to do with education? Not so. Microsoft founder Bill Gates, the world’s richest man, is now the most famous college dropout of them all. Steve Jobs of Apple fame was also a dropout; he couldn’t afford to continue paying for his college education. What is it with dropouts and computers anyway? Hong Kong billionaire tycoon Li Ka-shing, Asia’s richest man, weighs in as the 9th richest in the world, dropped out of school when he was 15. Perhaps it has more to do with one’s family pedigree then? Wrong again. Steve Jobs was adopted. And Russian billionaire Back to basics 21

Roman Abramovich, Russia’s richest man who also happens to be the 16th richest in the world, was an orphan. Therefore, it must be something else that helps determine who makes it and who doesn’t. It sure is and the good news is that you already have what it takes to become The Next Property Millionaire.

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It’s all in the mind

Like anything you tackle in life you have to have the right mindset and it is no different in becoming The Next Property Millionaire. If you are determined to rise to this challenge, you will be required to have the right mindset to make it become a reality. If you are already on the path of building a property portfolio  you probably already have some understanding of this topic, but if you are just starting out, you must understand that you will have to radically change your mindset to take on this challenge. The mind is an amazing thing. Scientists still don’t fully understand it yet but one thing they do know is that it is immensely powerful. It is amazing how just a simple thought can change your day. If you woke up one morning and had an upsetting thought that  you couldn’t quite get out of your mind, how would the rest of   your day unfold? Probably not the way you would like it to.And what if, during the course of that miserable day, you were to stumble across an outstanding opportunity? What would you do? Would you seize it with both hands like you might if you were feeling unstoppable and on top of the world? Or would you scoff at it and move on? And what if that opportunity turned out to be life-changing; the type that only comes along once in a lifetime? How would that make you feel?

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The fact is, we will never know about all the wonderful opportunities we have missed on our journey through life. We simply move on oblivious to what may have been had we chosen to do something differently earlier on. Who knows what lost opportunities cost us? Think for a moment how much potential profit you have missed out on (or  thrown away) by missing the beginning of the last property boom. What could it have meant to your net worth if you had bought property in Brisbane back in the 1990’s before the market went crazy? How much would it have changed your life if your grandparents had been foresighted enough to buy a property on the banks of Sydney Harbour when they were  young and left it to you in their will? This brings us to the concept of perception. What is perception and how does it affect us? Ever heard the saying ‘things are not what they seem’? This is because how we perceive things can be very different from what they really are. Our perception of reality may differ markedly from what reality really is. Think of it this way: have you ever believed something to be the case – really believed it – only to discover later on that you were wrong? You may have received new information that led   you to change your mind or you may simply have slept on it and woken up the next morning thinking differently. Either  way, you would have realised that what you came to believe about that topic was different to what you believed about it the previous day. So what changed? The subject of your thoughts? Did reality change? No, of course not. What changed was your perception of it. If you want to improve your financial situation, and if you are not fabulously wealthy already, then chances are you’ll need to examine what’s going on in your mind first. Understand that this www.thenextpropertymillionaire.com.au 24

is invariably the place to start, because if your mental attitude is poor, the rest of you will most likely follow suit. Think now about how your current situation is affecting  your prospects.Think about the part your culture is playing with   your view of reality. What affect has your upbringing had on how your life is turning out? We are all subjected to conditioning at various levels. Social conditioning, cultural conditioning, economic conditioning and religious conditioning all exert a powerful influence on the way we think and behave. Ever been told it is good to work hard for  a living? Or that you must work hard for your money. We all know about hard-earned money, don’t we? Why should money be hard-earned? Who said so? Does this mean that the super rich work harder or longer than the rest of us? Not so. We all have just 24 hours in our day with which to achieve things. The rich don’t have any more at their disposal than we do, so how can they achieve so much more? They certainly don’t labour harder than most of us. ‘Hard work never  killed anyone’ is another old saying that has conditioned our  thinking.What a load of rubbish. Hard work has killed plenty of  people – just ask those fortunate enough to have survived the Soviet Gulag hard labour camps. So what have you been told about investing in real estate? What is your impression about developing a sizable real estate investment portfolio? How have you been conditioned in your  upbringing?  You probably also know the one about the rich getting richer  and the poor getting poorer. This works on a deeper level than the obvious. If you allow your mind to wallow in self-pity, you will find yourself very soon on a downward spiral that will be harder and harder to break. Conversely, if you are feeling upbeat and unstoppable, your spirits will soar and you will attract more good fortune by the minute. But this should not be a surprise to It’s all in the mind 25

  you as we all have experienced this in our lives at some time. The trick is to understand this and use it positively in our lives to help us achieve whatever goals we set for ourselves. We must learn to harness the power of positive thinking because everything starts with a simple thought.Thoughts are so powerful; they are boundless. They are also the very things that no-one can take from you or control. Cherish your thoughts and encourage your mind to dream. Let it think big. Let it go to places you only can in your  imagination. Feed it good stuff. Think empowering thoughts. Remind yourself that you are a unique individual who can achieve whatever you want to achieve. After all, thousands of  other people have, so why shouldn’t you?

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If you could, how would you change your life?

It is part of being human to want more, to improve, to go faster, and be better. And far from being problematic, it is actually healthy to strive. That is how the world improves. Parents invariably want more for their children than they had when they were young.This is only natural. In addition, times change. What was OK for one generation usually is not for the next.Take cars, for instance. In the 1960s the average car didn’t come standard with carpets. Imagine being offered a new car these days that only had rubber mats! Trends too change. Cigarette smoking these days is seen as socially unacceptable and there are already signs that email may not be the preferred means of communication among the young generation. Most people seem to naturally want to change. They don’t seem content with their current situation. Thoughts are: The grass is always greener on the other side of the fence. The point is that it is only natural to dream of a better life. Why else would all the glossy magazines that feature the fabulous homes and lifestyles of the rich and famous exist? Everyone needs something to aspire to.

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If money were no object, what would you change in your  life? What do you consider the ideal life to be? Go on – let   your mind run wild. Close your eyes and think of your new imagined life. Think of the cars you see there; smell the new leather seats. Look at your new house. Can you count the windows? How many rooms does it have? How many garage doors? Now look inside the garage. What else do you see beside your dream car? How big is the property? Are the gardens beautiful? Is the property on the water’s edge? If so, is there a boat there? Do you see yourself as The Next Property Millionaire? Perhaps this isn’t your ideal lifestyle. Perhaps yours is somewhere on a farm in the mountains. It might be on an island in the Pacific.You may even see yourself exactly where you are right now, only without the worry of having to bring home enough money each month to pay the bills.   Your ideal life might involve having your own successful business.You may see yourself in your dreams having a carefree family life that knows no financial stress.You may also dream of  this happening through owning an extensive real estate portfolio of 100 properties or more. Perhaps retiring one day without a care in the world is how   you dream your life turns out. Being able to finance your  retirement without having to rely on social security may be your  ideal existence, with all your money generated from your  property rentals. Time to get real… No, that doesn’t mean you need to snap out of your dream world and wake up to reality. It means it is time to begin making  your dream life real. The first thing you need to do is to commit the life of your  dreams to reality. You need to give your thoughts a concrete existence. www.thenextpropertymillionaire.com.au 28