What To Do If A Dodgy Developer Ruined Your Life and 14 Properties With Rich Harvey

May 23, 2017

When Rich Harvey, managing director of PropertyBuyer.Com, lost almost all of his 14 investment properties in one fell swoop, he simply picked himself up and begun again.

In the podcast you’ll hear exactly how Rich Harvey made this disastrous mistake, and how, through security and legal knowledge, you can avoid the same developer traps.

You’ll also learn how you can rebuild your portfolio after such an error, and how you can start your own portfolio, even on a moderate income.

Finally, Harvey will also share his tip for inexperienced investors; choose regional areas with good cash flow.

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In this episode, here’s what you’ll learn:
  • 01:11

    What does Harvey’s typical day look like.

  • 04:43

    Where did Harvey grow up and his personal story. He shares his education, parents and gardening business.

  • 10:43

    How did Harvey start his property investing journey.

  • 11:55

    Harvey’s worst investing moment that almost cost him his portfolio and his marriage.

  • 18:59

    The best moment for Harvey and where he discovered his ah-hah moment.

  • 23:27

    Harvey’s go-getter attitude allowed him to quickly and easily rebuild his impressive portfolio.

Mentionable Quotes and Shareable Snippets

Transcript Excerpt:

Rich Harvey:
How do I describe myself as a property investor? A go-getter. I’m someone that has become very savvy with property. I started out very aggressively trying to buy as many properties as I could once I sort of got educated. I was a very cautious investor when I started out.

Tyrone Shum:
How would you cope if you went from owning more than a dozen properties with a life of hope and luxury, to just one property and all your money gone to a dodgy developer? What would you do? Could you build again? Or would you just give up?

I’ll give you sometime to think about while I queue the music…

Rich Harvey:
My name is Rich Harvey. I’m Managing Director of PropertyBuyer.com.au. I’ve been running my business since 2001, running an exclusive buyer’s agency and learned a lot about property in that period of time.

Tyrone Shum:
Our guest is a testament to the will to survive. Harvey has an extraordinary property journey, one filled with crazy highs, and debilitating lows. Coming up you’ll hear how you can avoid the mistakes he made, and learn how you can rebuild an empire, just like him.

So to begin with, what do you actually do in any given day?

Rich Harvey:
What do I do in any given day? No day is the same, Tyrone. Every day is different. I mean when I started out, I was on the tools a lot more. I was out there researching properties. I was marketing my services to find new prospective buyers, looking at properties, evaluating properties, dismissing properties, developing agent databases, doing everything related to property and running a business.

So there are never enough hours in a day particularly as a business owner, as any other business owner would know.

Tyrone Shum:
The goal of Harvey’s day job as a buyer’s agent is to provide the best help for his property investing clients.

Rich Harvey:
You soon learn to get very smart. Not take shortcuts but to just get very efficient at what you do and how you deliver the service. So my goal is to deliver really top professional services to any homebuyer or investor or aspiring developer that wants to get into the property market and help them to do that every day of the week.

Tyrone Shum:
Harvey also contributes heavily to eradicating the kind of fraudulent behaviour from the property industry that cost him so much in his own property investment journey.

Rich Harvey:
I’m the President of the Real Estate Buyers Agents Association, REBAA for short. I’ve been the president for the last two years. I also serve as the chairman of the Buyers Agents Chapter or the Real Estate Institute of New South Wales. So both of those roles are a voluntary thing. I don’t get paid for that. It’s just my way of giving back to the industry, to help improve standards and ethics and professional practice in the industry because we are a – I guess a fledgling or growing industry and there’s – buyers’ agents 10 years ago was not nearly as popular as it is today and so there are certain regulations and standards that are still growing as we speak. So I’m serving that role to help improve the practices with other businesses as well.

Tyrone Shum:
This passion for justice reaches all of Harvey’s clients; who quickly learn the dangers of pressure tactics and outright lies that are employed by these dodgy dealers.

Rich Harvey:
Well, to me, the reason I do that, it’s also about transparency. I mean my brother got stung by one of those marketing groups many, many years ago where they used to fly through Gold Coast and show you – take you on a little run around the place and then tell you there were only two properties left and unless you sign a contract by Sunday night, you’re going to lose that.

It’s really sad to get – see people get swindled into buying a major asset on the basis of just a couple of hours and pressure tactics. So that was something that really motivated me to help improve the practice in the industry.

Tyrone Shum:
Harvey isn’t shy when it comes to getting what he wants; which is how he managed to rebuild his portfolio after his disastrous misstep.

Exclusive bonus: Click here to get the full transcript of Rich Harvey interview that will show you all the links and resources mentioned inside this episode.

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 Rich Harvey. If you have any questions, feel free to leave a comment  below and I’ll respond right away!

Show credits:

This episode was produced by Tayla Bosley with narrations and interviews conducted by Tyrone Shum.

You can subscribe to Property Investory on Apple Podcasts, Stitcher, or wherever you get your podcasts.

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