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WEALTH: Is it Too Late to Invest in Real Estate? | Paul Smith, Property Investor, Educator and Self-Made Multimillionaire
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Το περιεχόμενο παρέχεται από το Nicole Ng Yuen. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Nicole Ng Yuen ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Is it too late to invest in real estate in 2024?? Do you want to learn about property investment but you don't know where to start?? If you answered yes to any of these questions, then this episode is for you!
This week we have self-made multimillionaire Paul Smith on the EnvisionAir Podcast speaking about all things real estate! Paul has over 40 years experience as a property investor and has amassed an incredible £67 million net worth.
In this episode, Paul shares his genuine passion for helping others get wealthy through education and discusses the reasons why he considers property to be a great investment for all investors. He also shares the mindset needed to become a property investor and answers a number of questions submitted by EnvisionAirs!
Paul is incredibly generous with his time and the answers we asked him in this episode, and I am very grateful he shared so much practical value for beginner to more experienced property investors.
It was such a value-packed episode I thought I'd share some of the major takeaways of this episode:
1. When investing in any item (shares and stocks or physical assets) ask yourself the '50 year question’ Paul coined - that is, "Will this asset still matter in 50 years?"
2. Average house prices have gone up by a factor of 60 from £5k to £300k since the 1970s, which shows the longevity of this property as an investment.
3. Why does Paul think property is such a great investment? (a) Utility;
(b) Rent - passive income; (c) Capital growth; (d) Property is also an easy concept to understand - it’s an easier entry point to investment.
4. Paul’s formula for mindset success:
Step 1 - Define what success is for you - it will be different for everyone.
Step 2 - When the fear steps in, instead of asking what will go wrong, ask yourself what if this work?
Step 3 - How can I achieve what I want?
5. Paul’s advice for those starting out on their property journey - look into the following instruments to help you get on the investment property ladder (in the UK):
- Students: Look into a 100% student mortgage.
- Anyone else: Look into Barclays 'spring board mortgages’, which are 100% mortgages you can apply for, as long as you have a guarantor.
6. You must understand your values to succeed in life - one of his 'must read' books he recommends is Dr. Demartini's “Values Factor”.
For anyone who wants to learn more about Paul, please visit his website: https://touchstoneeducation.com/; you can learn more on his YouTube channel: https://www.youtube.com/@PaulSmithTouchstoneEducation and you can connect with him on Instagram: https://www.instagram.com/paulsmithwealth/.
If you found this episode helpful or you know someone who is interested in learning about property investment, please share the episode with others.
Keep envisioning and living your best lives EnvisionAirs!
Lots of love,
Nicole x
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