In the second part of host Tyrone Shum’s conversation with Jeremy Iannuzzelli, you’ll hear how a hands-on approach to the property market and a comprehensive understanding of your portfolio can add serious value to your investments.
Iannuzzelli shares with you, how his accounting background provides him with the keys to maximizing his investment profits.
And we’ll explore the value of experience; how other people’s stories can be such a rich source of investment knowledge.
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In this episode, here’s what you’ll learn:
What initially held Jeremy Iannuzzelli out of the property market.
Iannuzzelli has sourced information from a wide range of resources from books to seminars providing him the tools for serious action towards his investment goals.
What Iannuzzelli considers to be the most valuable lessons within his wealth of experience.
What mindsets helped Iannuzzelli to build upon his initial property.
Iannuzzelli’s key tips and habits that have allowed him to build a successful portfolio.
How Iannuzzelli manages to efficiently maintain his portfolio on just a few hours a week.
Mentionable Quotes and Shareable Snippets
So one of the key questions I ask my clients is how do your properties perform? How are they going? Is cash flow positive? Is cash flow negative? What months are good? What months are bad? What years are good? And quite often the answer I get is I don’t know.
Last time we spoke with Jeremy Iannuzzelli and we explored his investing story. The ways in which he applied his accounting background, with an enthusiasm for knowledge in the property market that has allowed him to develop a significant portfolio at such a young age. We’ll delve into the strategies and habits that have allowed him to continue to grow his portfolio into a considerable, well-rounded investment.
It was a sense of procrastination that initially held Iannuzzelli out of the property market. But in hindsight he attributes that time he spent observing and researching the market alone, as a significant advantage when it came time for him to invest.
I often reflect back and calculate what that property a year ago was and what would it would be worth today. Or, if I bought that property it would’ve had some extra time in the market but it’s all relative in the sense that I often said to myself, Jeremy don’t be silly. That time, that one year that you spent procrastinating but really learning and understanding the market and how the beast works. How property investment works was all very imperative in my journey. It gave me a lot of different things to look at; it opened a lot of doors and a different mindset. So, I was able to make very calculated decisions on property because I spent a year getting out there and physically going to things and seeing how agents work, seeing how auction processes work and seeing the competition you’re up against in the different properties that you can contrast. I always say that I never regret it. I don’t think it was the greatest thing to procrastinate for that year but at the same time I have no regrets because it all helped me to develop where I am today.
This first-hand experience, has been key to developing Iannuzzelli’s comprehensive understanding of property investment and something that he attributes directly to his success.
I often say to my clients who are looking to start a property investment journey or who are still in it or going through it: mate I probably visited in essence that year over 100 properties. You know every weekend I was trying to view at least 3 or 4 or 5 with exceptions of some public holidays, with the exceptions of shutdown time, obviously over Christmas and New Years. But I would really actively try to go and visit properties each week. On Saturdays, I would’ve drove past hundreds of for sale signs and stopped and taken photos and had a bit of a sneaky peak so it was an integral part mate, a very integral part to where I am today.
But as well as this direct exposure, he has sourced information from a wide range of resources from books to seminars. This thirst for insight, providing him with the tools for serious action towards his investment goals.
I had a lot of resources and that I used. Obviously, we all use realestate.com and Domain but I really utilized realestate.com rather than just going to the Buy and Rent tab or Buy, Sell, and Rent tab. I used the other tabs that are there like the Invest tab and that invest tab is a huge ton of data which shows different yields in different areas and shows price medians and percentage increase within areas. So I did try to utilize all the resources that I had. I spent a bit of time on forums to listen and read what other people were doing. I spent time listening to podcasts which were relatively new back then. Reading books was obviously something that I looked at, Jane Summer and the Rich Dad Poor Dad by Robert Kiyosaki. A lot of those books helped me. I went to various different seminars, some of clients who were buyers agents at that stage, When I say my clients, clients that I was working on that were buyers agents and having various different seminars. So I was attending the seminars and just listening to the things that they were doing but I tried to use every single situation that I possibly could as a learning mechanism, trying to absorb as much information as I possibly could. I listened and spent a lot of time with other successful investors, some clients, people like my partner Manzuro or my father Vince. People who have a bit of wisdom, a bit of grey hair or what I like to call runs on the board. I love listening to people talk about property but I love listening to it more when they’ve got large property portfolios because not only are they talking about it but they are doing it and I believe that doing is an action word as we all know and they’re the people that you want. You want action people, people who take action on the words they say.
Show Notes and Other Memorable Moments:
Thanks a million for checking out this episode! Below are the websites and other tidbits that were mentioned in today’s podcast with Jeremy Iannuzzelli. If you have any questions, feel free to leave a comment below and I’ll respond right away!
- Jeremy Iannuzzelli Facebook
- Keshab Chartered Accountants
- How I Built My $2.5m Portfolio On A $50k Income