Perth Property Insider Ep. 50 – How Risky Are You?

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  Omny | iTunes | Google Podcasts | Spotify

Oftentimes, we think that the biggest risk in an investment is the specific property we buy or the market crashing.

All while failing to see that WE are the biggest risk factor we bring to any investment…. So how risky are you?

In this episode, we talk about some of the ways you can reduce your personal risk and make sure you’re seeing things from a rich person’s perspective.

Under further analysis, some of the most common fears can actually be reduced or eliminated and what appears safe can actually be very risky and vice versa.

Be sure to tune in as we’ll be running through a lot of useful stuff today! Let’s go inside!

Highlights:

  1. Introduction [0:00]
  2. Why risk is perceived differently by each person [1:16]
  3. Protect yourself from risk through awareness [2:54]
  4. Diversifying investments: Does it reduce or amplify risk? [4:29]
  5. The cruciality of being able to look at the three different sides of a coin when it comes to risk [5:39]
  6. Is it safe or risky? A sneak peek into the different situations that either pose risk or safety [7:00]
  7. The biggest risk factor is not the market nor the property [12:47]
  8. Ways to alter your personal risks [13:25]
    • Leverage your skills [13:39]
    • Leverage your experience and other’s experience [14:42]
    • Reduce your personal risk by strengthening your cash flow [15:40]
    • Build a savings buffer [16:45]
    • Reduce your personal risk through your network [17:45]
    • Reduce your personal risk through your mindset [19:17]
    • Reduce personal risk through personal insurances [20:14]
  9. Handling market risks [21:48]
    • What if there’s no capital growth in the future? [21:53]
    • What if interest rates go up? [22:35]
    • What if they stop allowing negative gearing or put a cap on it? [23:31]
  10. Handling specific investment risks [24:45]
    • What if I buy a lemon? [25:00]
    • Finding quality tenants: attracting and maintaining [26:00] 
    • What happens if I have a long period of vacancy? [28:13]
    • What if the house burns down or is badly damaged by a storm? [29:48]

Resource Links:

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  Omny | iTunes | Google Podcasts | Spotify

 

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