Property investing is risk taking, you can never truly know what you’ll face on the other side of the property door, and no one knows this better, that the man with hundreds and hundreds of properties in his portfolio: Steve McKnight.
At an estimate McKnight has between 500 and 800 properties under his name, he has seen every horrifying facet that a property can throw at you. With this experience springs a wealth of knowledge, and on this podcast McKnight will inform you of every slip up, mistake, or blunder a property investor can make, and exactly how to fix any issue.
This episode is available on:
In this episode, here’s what you’ll learn:
What does a typical day look like for Steve McKnight.
McKnight focuses on giving his children the best childhood he can. And how he describe himself as a property investor?
How he describe himself as a property investor.
McKnight’s initial plan to use his investment portfolio as a way to leave accounting forever.
McKnight’s worst investing moment didn’t involve him losing money or even properties.
The best moment for McKnight and where he discovered his ah-hah moment.
What is there left to be excited about for Steve McKnight.
Mentionable Quotes and Shareable Snippets
So, I’ve had Barack Obama, the ex president of the United States of America, as one of my tenants.
If you had hundreds of investment properties, and the world’s elite such as an ex-president as your tenant, what would you do with your life? Would you play golf all day? Would you stay home with your family? Or would you pack up and live in America for a year?
I’ll let you think about it.
Today’s guest is truly one of the lucky ones, with a staggering portfolio that many investors can’t even dream of, Steve Mcknight has it made. His previous tenants include ex-US-president Barack Obama, and his property income allows McKnight and his family the ideal lifestyle.
My name is Steve McKnight, I am a professional investor and I guess my claim to fame is that since May 1999 I’ve brought hundreds and hundreds of properties. I don’t keep account of how many but we’ll be over 500. It might be as high as 800. I know it sounds like a big gap but after a while you stop counting and you lose count. So I went from being an unhappy accountant in practice with a business partner at the time Dave Bradley and together Dave and I cast a vision to buy enough property to never have to work in our accounting business again and by age 32 we achieved that goal and both of us, although we’re no longer business partners have moved on to our respective niches in real estate and continue to profit from it.
So in say 60 seconds or less what do you actually do in any given day?
Well normally I would roll out of bed around 7 o’clock or so and I’ll do maybe a half hour of exercise or walking when I pray and give thanks to God for being alive. For that particular day I’d come home, I’ll help the kids get ready to go to school, I’ll eat breakfast, I’ll sit and read my bible and then I’d get in and do some work usually until lunch time and then I’ll eat lunch and then I’ll get back into a little more work and then the kids come home from school so we hang out and I help them with their homework or we’ll just have a chat or we’ll do some exercises together and we eat dinner and hang out after dinner and go to bed and the next day repeat chorus.
That’s pretty much my lifestyle at the moment.
McKnight says his vision for financial freedom is.
I think for me the vision was financial freedom which is working when you want, how you want, when you want and with whom you want and that was always the dream. I don’t think financial freedom is getting on the golf course every day or if that’s what you want to do good luck to you but for me it was still contributing, being productive, adding value, helping people but also being around for my kids. Particularly while they’re young and giving them a lifestyle which I like to say was my, I want my special growing up to be their normal so I’m trying to lift the bar a little bit without spoiling them. I mean my eldest daughter wants a pony and my wife and I have decided against that and trying to encourage her to be a bit more responsible.
Thanks to the wealth generated by his hundreds of investment properties, McKnight focuses on giving his children the best childhood he can.
So we’re not giving the kids absolutely everything they want but we are trying to give them an experience in life that we didn’t have. My wife and I didn’t have as kids and hence that’s why we’re in the United States for a year. We moved over here, we bought a house here, the kids are going to school here and it’s a great life experience. It’s the sort of experience where when I was a kid we got into a caravan and went to a caravan park. My kids get on an aeroplane and live in America for a year and I give thanks to God for that and it’s also what real estate has done over the years to create the wealth to allow us to do it.
They’re a novelty because of their Aussie accents but they’re finding freedoms here is the U.S. that they don’t get in Australia because they go to an all-girls school in Australia whereas here they go to a co-ed school and life over here is a little more relaxed than the structure in Australia. So they’re settled in well, that said they miss our pets at home and their friends at home so they’re also looking forward to coming home in a couple of months when our 1 year adventure comes to an end.
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 Steve McKnight. If you have any questions, feel free to leave a comment below and I’ll respond right away!
- Property Investing Community
- Property Apprenticeship: 6 Module Training Course
- Steve McKnight’s 11 Second Rule
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