From Residential To Commercial Real Estate Lease and Sale
Liam Austin is the co-founder of Next For Sale and Entrepreneurs HQ. Next For Sale is a company that he created software that allows buyers to buy below market in order to get that instant equity within residential and commercial real estate lease and sale.
Entrepreneurs HQ focuses on virtual summits which allow people all over the world to attend a conference without actually having to leave the comfort of your own home. You simply need an internet connection.
Join us as we delve into Austin’s upbringing and what career he dreamed of having as a young adult, what inspired him to create the business of hosting virtual summits, the role that his parents played in his career, the remarkable story of his first property investment purchase and much much more on this episode of Property Investory!
Liam Austin started the company Next For Sale and we learn about how his company is able to help property investors.
I’m the co-founder of Next For Sale, which is a new software tool for property investors as well as new home buyers that uncover a distressed property. So it allows you, as a buyer, to buy below market value and gain that instant equity, unlock that instant equity from the property to grow and grow your property investment portfolio.
We learn about what a typical day looks like for Austin and where he is currently located.
I’m living in Malta at the moment. So I normally wake up, eat some breakfast, head off to the office. It’s about an eight-minute drive. Sit down in the office and get stuck into either our forum where we are replying to our community and replying to any emails that have been filed through to me via our virtual assistant. And I’m working with my partner Sarah as well as co-founder of Next For Sale, Alex, on those businesses where I’m looking to grow my email list authority, my network of influences, and make an impact as well as make some revenue via these virtual events and conferences that we run. One in the Australian property market, the Australian property investor show, and the others are for small businesses, how to generate leads and sales online.
He shares a little bit about his background and where he grew up.
I grew up in Putney, lived there throughout all of the school right from when I was born. Same house in Putney. Went to Burnie park primary school, which is a local school. Then off to high school, which was Westfields Sports High School out in Fairfield and then locally Holy Cross College in Ryde for the last couple of years before I headed off overseas. Since then I’ve really been back and forth between Australia and living overseas.
Currently residing in Malta, we find out about how he ended up there and what he did after high school.
This is quite an adventure I suppose that we’re looking back on. But from leaving school I went overseas and lived in the UK for a little while. And I think young Australians do kind of head off into London. And so I spent almost a year over there and then headed back to Australia. To summarise and we can delve into it a little bit deeper, but I purchased a property in Sydney. I then traveled to South America for a year. I then bought another property when I returned to Australia and I went traveling again. I started my own online business to help facilitate my travels. The whole idea of property investment and building your wealth, gaining some passive income and creating that cash flow, I’ve taken those lessons and learnings into my life. So I was looking at, well, starting an online business and creating passive income flow through some automated online marketing businesses that I run. I talked about the virtual summit and online conferences that we do. So that’s really facilitated my lifestyle now where my partner is Swedish, so we’ve lived in Sweden for a little while, Thailand as well as Malta.
He has traveled all over the world but we hear the story about the period of time he spent in the UK.
So I played soccer or football growing up and I was scouted by a couple of teams over in the UK to go and play and trial with them. So I ended up playing a season over there and on my return to Australia I ended up signing a contract with the Wollongong Wolves, which played in the National Soccer League that’s what it was called at the time, now called the A-League. So I played there for four years until the National Soccer League ended and unfortunately just folded and was reignited via the A-League. But by then I was overseas again and living in Spain.
His younger years were spent on trying to achieve his dreams and becoming a professional soccer player.
You’re in London and you’re out in the cold each morning or running around on a muddy, well what was and should have been muddy wet ground. But that mud had frozen a lot of the mornings. So the ground was very uneven from the previous days running around in the mud and training in the mud. So it became a bit of an experience having grown up playing soccer. I mentioned that I went to Westfields Sports High School in Fairfield where it’s out west of Sydney where it does get quite hot. So we were training in 30 plus degrees heat a lot of the time and to then go to the UK and experience the complete opposite where you’re training with gloves and a beanie and sometimes even a scarf. It’s certainly something that’s stuck in my mind
After coming to the realisation that his soccer career probably wasn’t going to pan out, he got a job that quickly put him on the right track.
When it comes to professional soccer, or football, in Australia back then, which was like the year 2001 I believe, it was a semi-professional setup. We just didn’t really have the audience, the TV coverage, the media coverage, and the sponsorship to really grow the game. A lot of the players were part-time. So I went to university as well as worked a part-time job and was training in the evenings. And so when I came back, I went and studied at Macquarie University doing a marketing and economics degree. So I finished that in three years. And my first real job when I came back was working for a startup in the internet space and they were doing just some really interesting things. I was watching consumers purchase, from all around the world on a daily basis, this service, and product that they were providing.
And I just realised it was a small team. I think I was like the fourth person who joined the team at the time. And there were hundreds of sales coming through per day and thousands of new triallists and registrations. And it was just amazing to see that you could grow a business with such a small team with the power of the internet. And we all know the Facebook and Tinder’s of the world and how big they’ve grown. And at the time this was all new to me. And so since then, that has dictated the rest of my life. Realising that this is maybe going to be able to facilitate my urge to travel the world and experience different cultures and live that lifestyle that I really wanted to live.
And so since really then I’ve been looking at and trialing and testing different ways that I could create an online business. There’s been a lot of failures along the way where I was doing and launching some new products and services online. And some were able to bring in a little bit of money, but really not enough to facilitate that dream lifestyle of traveling the world. I struggled for a long time and it wasn’t really until I found the virtual summit and started creating these online conferences that the business really took off.
Austin shares the businesses that he was involved in that didn’t work but that inspired him to start working on the current business his in.
The startup that I was working with and it was called Soulmates Technology, which ended up selling out to match.com, the owners of Tinder. And so it was a white-labeled online dating software technology. So we were white labeling the technology and partnering with sites like MSN, Microsoft and Yahoo, and others and powering the dating sections of their websites. And as part of that role, the owner of the business and the co-founders decided that they would give me a white-labeled site of my own. So I ended up creating my own brand, my own registering, and my own domain. And since the product and service was being provided to me, I was able to just focus on marketing this website. So I got to learn about online marketing and digital advertising.
I was one of the first advertisers who did some of the paid search advertising in Australia. So that was interesting and a good experience. So that really kicked it off. And from there I’ve worked with doing travel based website as well as like it was almost like a catalogue website with many different areas where people could purchase different products and services. From ordering flowers online to the travel and travel was actually one of the categories that really stood out and was proving to be making more money. So that’s when we actually moved into creating a travel website, moving away from the catalogue style website. And so there was lots of learning along the way, but nothing really took off on that journey.
So it wasn’t, as I mentioned until we started our first virtual summit, which was the LinkedIn success summit where we had 35 expert speakers talking about how to generate leads and sales from LinkedIn. We saw we had 15,000 people register for that online event in the space of just a few weeks. And we ended up making just under or just shy of $100,000 in that short period of time. It took us about three months from conception to fulfilling and completing the event. But it was just a really powerful influx and spiking in revenue and registrations and interests. And I’d never really seen that before across all the different businesses that I’ve tested and tried. There was an obvious strong demand and interest in this online type of conference.
You never really know when inspiration can strike you and for Austin, it provided him with the idea of creating his own business.
With the online conferences and virtual summit, we’ve been running them since 2015. So it’s been five years or so now and I came across it via a podcast. Just listening to someone talking, like a story similar to this, and seeing some of these virtual summits online, I started researching and signing up for them and seeing the value and the interest and engagement from the users and the attendees of the event. The opportunity to take these attendees on a journey through helping them solve their problems or they’re coming into an event to help solve a problem where they’re meeting some of the top influences in the market. They’re getting some really valuable information that if they had to go to our in-person conference, they may be spending hundreds or thousands of dollars to attend these types of events. Suddenly they could attend them online from anywhere in the world. So they didn’t have to travel and spend tickets on flights or hotels or taxis or food once they’re traveling or time away from their family, they could literally sit in front of their computer or any internet-connected device and attend this online conference. So for me, I was like, wow, let’s see how we can maybe do this for us or maybe this is something that I can test that can work. We decided to go ahead and see if we could successfully host one of these online conferences ourselves.
Austin explains how the virtual summits work and explain how they differ from his other business, Next For Sale.
I should distinguish that from the Next For Sale business, so Entrepreneurs HQ is the business that was started via these virtual summits 5 years ago. I’d been running virtual summits via Entrepreneurs HQ since 2015. We’ve run 15 of these events which work out to be like 4 almost per year and that has been the main focus for us and this is the second business that just really came following a passion of mine, which is Australian property investment. And so we’re running a virtual summit in Australia which is the Australian Property Investment Show. And that is really the way that we are looking to enter the market. And launch this new tool for property investors, the Next For Sale software tool, which uncovers the distress property.
We now hear about how he began his property investing journey and where that inspiration came from.
I was living at home with my parents at the time and they came home and let me know that they’d put a deposit down on a property, on an apartment. And I was intrigued by real estate and property. I’ve seen it all in the news and people talking about it, but never seriously considered anything myself. And so that really piqued my interest. I was like, you just purchased a property? He said, yeah, we were just driving past this new development in Rhodes in Sydney. We went in there just to check it out and it looked great. The guy sold us on an apartment there. So I was like, well, tell me more, so we had dinner and we talked about it some more and they decided the next day they were going to take me to show me this new apartment.
I was like, this might be something that I’d like to maybe invest in as well. I don’t have too much cash right now, but this will be something interesting for me. So we went across there the next day and I checked out the development, which was really just mud at the time, which has now turned into, there were like thousands of apartments being built here in Rhodes alongside a brand new shopping centre that included the first Ikea in Australia. So there was going to be a big Ikea built right next door to these apartments and they were just really selling the first couple of buildings in the development, which meant that, at least the salesperson was telling me, if you get in early, the price is going to just keep increasing because of all these other developments that are going to be released and they’re going to have almost second choice because they’re going to be paying more and they’re going to be in not so much of a desirable location. Whereas you’re getting here early and we can give you a good deal.
I was like, okay, so how does this work? And he’s like, we just need to put down a small deposit today and the build is going to take 18 months and that’s when you’ll be required to pay the remaining deposit onto the property and get your home loan sorted. And then you’ve got your mortgage repayments from there. So I decided to go ahead with the deposit and I’ve got a couple of years to pull together the remaining cash. So that worked out quite well in that I was able, I didn’t have enough money right at the time, but it got me on the ladder and it got me saving and knowing that I had this bill that I needed to pay, and if I weren’t able to pay that bill, then I was gonna lose my initial deposit on the property.
Austin’s parents played a major role in his property journey and we delve into how important it is to talk to people with experience in whatever field you are working in.
Maybe it’s a lesson that people have maybe gone through online themselves. My parents are people that I trust when it comes to financial decisions and watching them with their investments. They encouraged me, they invested in shares a few years prior to that. So they’ve kind of sparked the interest in me. And so watching them with their investments and talking about them over dinners and so forth really helped inspire me to go down a similar track. So just being surrounded by the right people I think is so important. If you are seeing people that are being successful in their lives and that’s something that you want for yourself, I feel like it’s really important to connect with these people.
Ask them how they’ve done it and let them know that they inspire you. You’re interested in creating a similar type of lifestyle for yourself and how do you go about it. So for me, that inspiration came from my parents to purchase that first property. And I think, if you’re sitting here listening to this and you haven’t purchased your first proper investment property, think about who’s inspired you to think about property investment. Why are you listening to this podcast, this episode? What is it that drives your ultimate voice? What is your ultimate goal with that? And maybe there’s someone in your life that has achieved what you want to achieve and if you can reach out to them and see if they could possibly become a mentor and an advisor to help you along that track. That really is what helped me get off my butt and actually go ahead and make that investment and move forward and make that decision. Because from what I’ve learned, speaking to too many different property investors and experts out there that have had lots of success, it’s really about making a decision, getting in the market with a better performing property at a better price and staying there for the long term.
We find out about the current situation of the first property that Austin bought and the incredible story behind it.
I didn’t really have the cash or the available money in my bank account to be able to go and put down this big deposit and pay off a ton of equity. Like I had a little bit of an introduction where I can pay a small chunk of the deposit and wait a couple more years, save and earn some more, and then pay the remainder. So when I was choosing the property, I realised I’m probably going to have to really choose the least expensive property that’s available in this development. So there were two options for me at that lower price. There were a few thousand in difference, but not too much. But one of the options was, both were two-bedroom apartments, but one had a balcony at each end and was quite a thin, longer style apartment.
And the other option was a corner apartment, which was on the ground floor, but it had a squarish layout where all the bedrooms flowed out into the living space. And there were positives and negatives about both of them. But what was interesting about the long, thin one, there were multiple different properties that had the exact same layout like this one. And the corner apartment, which was on the ground floor, was unique and there was no other design like it. It actually had, because it was on the ground floor, a bigger terrace than the ones above it for their balconies. It had some nice greenery that was going to be maintained by the strata. It actually had a nice outlook and some water views too. So what happened here really is that I ended up picking a really unique property that was scarce.
There weren’t many like it. And so during the period of the build and they were getting close to me having to pay the remaining of the deposit, the developer, which was Walker Corporation at the time, came to me and said, we would like to rent out your property as a showroom for selling the remaining developments and buildings that we have. It kind of took me to my next step in the journey. And it was like, well I bought an apartment which is residential and now they’re telling me something about having to turn the apartment and the permits into a commercial permit. So there was a lot there that I needed to learn and I was like, they’re going to turn it into a commercial property. Do commercial properties get more rent than residentials? If I sell it, am I able to sell commercial real estate for more than residential property?
He did some research on the site as the property was still being developed and was surprised by what he saw.
This was a big decision for me. This is all my money going towards this thing. Is this what I want to do and move forward with? Prior to them actually contacting me, because this was such a big investment for me and it was local to where I lived, I was probably maybe a 10-minute drive away. I would pass by the development to see how they were progressing. As we got closer to the end I noticed that they’d put in a set of stairs going up into the terrace which shouldn’t have been there. And I was like, this is a bit weird.
These are like some really wide stairs. Like this doesn’t look like a personal set of stairs. This looks like an entrance into a shopping centre or a showroom. I think I talked to someone there on the ground at the time and just said, what’s happening? They were like, we’re just building this into an office and without them really knowing who I was. So I realised that they’re looking and they’ve already invested in turning this into a showroom. So they’ve made this commitment and putting me in a pretty good position knowing this information. So that when they approached me to ask if they could do this, I knew that I could ask for better terms.
Simple Way To Get Free Advice From Experts On Property Investing Without Leaving Your Home With Liam Austin
After so many twists and turns, Austin shares the final outcome of the extraordinary story of his first investment property.
I agreed and sent out the contracts which really detailed yearly rental agreements with options for further years and they ended up renting that commercial space from me for I think it was like seven years. Until they ended up selling the rest of the developments. So they would pay the rent upfront in one big lump sum. And that also helped me to put the deposit down and pay off that deposit for the first investment that I made. The contract would end once they sold all of the properties in the development and there were thousands of them. But once that was over, they would turn my apartment back into an apartment from a showroom.
So I would get brand new furnishings and finishings to that apartment. So maybe all the other apartments in my building would have been 7 years old and mine would have been brand new. So there were a lot of benefits and positives for moving forward and agreeing to this deal. I went ahead with it and it was, you know, you talked about property investments are boring and this is maybe a fun, interesting story. Well, it’s exciting for me, going through this journey but it allowed me to really sit back and have this passive income coming in and not really have to worry too much about the property being damaged by tenants because I knew it was going to be built brand new again at the end of the contract.
So it was like a sit back, forget, really boring kind of stuff, but it was putting money into my account, which was a great position to be in. And that really sparked the whole idea of, well this is nice, this is good. Like maybe we can do more of this. And at the end of the seven years they found out that the developer had purchased the apartment next door to mine and was looking to offload that and they were asking, did you want to buy that one next door because we need to get rid of it, but it’s quite difficult to get rid of. It was this smaller, one-bedroom that was kind of tucked away next to mine, like behind mine, and didn’t have the light that mine had access to. So they ended up finding a buyer who wanted to buy theirs, but only on the condition that they were able to buy mine as well. So they were in a position where they wanted to force through a sale and push me to go and sell my property at the same time. And since it was a commercial property, we got quite a good return on that. I was able to sell the property off as a commercial. So it was quite a journey going through that thinking, I’m going to get a brand new apartment out of this. From buying a residential to selling a commercial apartment.
How He Created A Commercial Real Estate Lease?
We run through the numbers of the return that he saw from that property and what it was able to do for him long term.
The biggest benefit that I ended up walking away from with this was, during that period of seven years whilst I going with a commercial real estate lease, I’d bought another property up on the Central Coast. So that property ended up being a subdivision, which I can talk more about in more detail. But when the opportunity came to sell this commercial real estate in Rhodes, I realised that the money that they were offering was going to be able to pay off the mortgage loan that I had with the bank for the Central Coast property. Which would allow me to own that property outright and not have to worry about any repayments or anything like that for that property.
So that deal really set me up to create that passive income in my life. And then I mentioned that from there, I really went and lived overseas for a while and that facilitated that whole lifestyle.
He lays out how he is able to avoid getting himself into situations that could be problematic.
I wouldn’t say anything that really stressed me out. I’ve always been someone who wants to put themselves in a position where they don’t have to worry about having to turn up to a 9-to-5 job or having to be location dependent. Worry about waiting for that next paycheck to come in. I really wanted to put myself in a position where I could have passive income which would give me the financial freedom to travel the world. I live my lifestyle, start my own business, not worry about having a boss, these are all things that I really did want for myself. So when it came to investing in the properties, like the first commercial one I think really gave me a big boost and gave me the advantage over maybe a bad deal that could have really shocked the system.
But this really set me up to feel confident with my financial situation and know that I could be a little bit more flexible. I could negotiate, I could spend time and there was no rush. No one could or had to force me into doing anything. There was no boss. There was no financial stress happening there so that when you’re in a position like that, you can choose your own destiny where you are able to make your own decisions. Being free without having one hand tied behind your back. So I was able to not be forced into any of these problem situations or I could avoid these knowing that I can surround myself with the right people.
I can invest in getting the experts to give me advice and to help me out, put me in the loop and keep me going in the right direction. I talked about surrounding yourself with inspirational people or successful people that have already achieved what you were hoping to achieve. Doing that has really made sure that I avoid those rookie mistakes and gives me confidence. Taking a lower risk approach to things, knowing that I’m following a proven trodden path that will lead me to the goal and the success that I’m aiming for.
We dive in as Austin shares with us the moment in his career where he knew he was on the right track.
There’s so many along that way and I think I mentioned quite a few of them in the story. But if there was a big lesson, it was like, the commercial is worth more than residential. There are so many different intricacies to property investing that you can take advantage of and can really mean a lot more zeros in your bank account. So with that second property investment, I went looking for land that could be subdivided. And I ended up purchasing one piece of property which had two dwellings on it, which gave me a high rental yield, gave me some greater cash flow and allowed me to travel. I was looking to purchase in an area that had high capital growth. And so this property ended up being in that location that I was looking for.
And because of the ability to subdivide that property, I did that pretty much straight away on purchase which unlocked instant equity for me and increased the valuation of that property. And if I had of maybe stayed in Australia, I could have then gone ahead and leveraged that extra equity in that property to go and purchase more properties. But really with my focus on the lifestyle aspect of it, the travel and want to start my own business, that’s really been the focus for me from there.
It is a great position to be in when your properties are doing well and provide you with numerous other opportunities.
It’s just on the Central Coast of New South Wales. I haven’t gone up into Queensland yet, but I think that would be definitely something that I would be interested in checking out. What’s the plan? Really it’s the buy and hold strategy, so I don’t really look at selling that, just keep that rented out for the meantime. And I think if we decide, well let’s maybe expand our portfolio, let’s see what we can do, then maybe we’d reassess whether that asset was the highest performing asset that we could inside our portfolio and make a decision there. But right now we’re kind of happy for it to just grow in value and bring in that cash flow.
We delve into some of the next steps that Austin is looking to take in his career and how he is going about to achieve them.
The properties are sitting there and growing and doing great, doing what they should be doing. It’s a bit boring. I’m sitting back and not doing too much over here in Malta, but my partner is Swedish and so we are looking to decide, where’s our next move? Where do we want to travel to? Maybe it’s South America, maybe it’s Sweden, maybe it’s Australia. What’s the next step? And I think eventually we’re at a point where we want to create a family and we will want to settle down somewhere. Do we buy the family home or do we rent? What is the choice there? Do you want to go after another investment, capital growth and cash flow and just rent something or maybe not worry about the financial side of things too much and purchase that dream home that you just want to settle down in.
So from that perspective, those are some decisions we need to make. But really the focus now with our investments is on the business. So looking at growing Entrepreneurs HQ, running more of these online conferences for ourselves, for our own business, but we also help our students to run these online events for themselves in various different industries. I’ve seen it work for everything from gardening and those types of hobbies to sport and consumer-orientated things to property investment ones we’re doing in Australia as well as financial and cryptocurrencies. So really that’s the focus. Helping to grow that business, create and bring more of these conferences to people who may not have access to them because they’re living in different parts of the world and give them access to the expertise that may help them with something that they’re suffering.
Maybe it is a health issue that they’re going through and they can’t get access to the surgeons or the doctors that they need to because they live on the other side of the world. They cost tens of thousands of dollars to get access to. They can get access to the latest information and data to help them solve the health issues that they’re going through via these online conferences. So we’re focusing on doing more of these and helping others bring an online conference to their business and to the market.
We learn about the upcoming virtual summit that Austin is holding and what people can expect to get out of it if they attend.
In the past, we’ve processed all the tasks that really needed to be done to run a successful event. We’ve tested a lot of things as well to see what works and what doesn’t, what not to waste our time on and what to avoid. The strategy in the property investment show is bringing together over 20 of Australia’s top property investors and industry leaders to teach their number one property investment strategy. So what is it that they use for their own investments? What is a strategy that has really given them the highest yield, the biggest return the biggest wealth creator? What was that thing that they do? And kind of walk us through that process step-by-step. So some of the speakers talk about really specific topics such as renovating or negotiating with Stella or making sure that you’ve got the right tax deductions.
All the way through to the bigger picture stuff which is creating the whole property investment plan, the short-term, the medium, the long-term, and going from A to Z, right through your situation down to actually purchasing that property and then managing that property and growing your portfolio. So it’s really interesting actually just speaking to all these experts who have had decades of experience. A lot of them have been involved in thousands of property transactions for them and their clients, so they know what they’re talking about, they know what they’re doing. There are many different approaches for it. Especially when it comes down to your own individual situation, it’s definitely something that needs to be taken into account. There’s not really one size fits all, but there’s certainly some options and different opportunities that are available in the market right now. So the show is running from the 6th to the 10th of November. It’s free so you can go and grab your free ticket www.propertyinvestmentshow.com.au and attend all the sessions across the five days. There are some networking elements, live discussion panel, and a live Q&A that are happening. So do get involved in that. And really the inspiration behind it was, we’re launching a new tool called Next For Sale, which allows property investors to really buy and uncover those properties that are below market value to release that instant equity.
Virtual summits are a fairly new concept but the advice and expertise you can receive through them is incredible.
It’s definitely a growing industry. There hasn’t necessarily been very many done for specific niches. And I think when it comes to Australian property investment, I haven’t come across any online conferences of the size and scale of what we’re doing. So it’s pretty cool that we’re bringing what may be a traditional in-person expo that you have to visit in Sydney, Melbourne, Perth or Brisbane. And we bring it online so that if you are in country Victoria, you don’t need to travel to the city to attend the event. You can get access to the expertise and the material for your own property investment journey just by accessing the internet via your computer or mobile phone. So I haven’t seen another event like this online, but I love being someone that travels a lot and is around the world and maybe misses out on things that are happening back home in Australia. It’s great for me to be able to host this and get access to this information. So there are a lot of investors investing in the Australian market that live outside of Australia and here’s an opportunity for them to really get access to this content and this expertise.
Austin shares with us what the property investment experts will be talking about during the summit and what you can expect to learn from them.
Everyone’s sharing their number one strategies for wealth creation. So we’re talking here about getting a higher capital growth and finding the right locations, getting greater cash flow for your portfolio to increase your amount of properties or maybe to fund your travel and your lifestyle. But also bringing in the experts and rather than doing it yourself, it really helps you feel confident, gives you a firmer resolution on your plan. It’s a lower risk approach so you can go and purchase with a high level of certainty, avoid the rookie mistakes and sleep well at night. When we’re looking at these individual sessions, there are a few commonalities between them, which is really looking at, okay, how can I purchase a better performing property for a better price? When it comes to the ultimate goal, I think of a lot of investors, based on our speakers and their own clients, there’s a similar goal that people are looking for. It is ultimately looking to replace your income with a property investment portfolio allowing you to be financially free to go and enjoy your ideal lifestyle. So if those kinds of things are what you’re looking for, if that interests you, then I do encourage you to come and attend the show.
It’s helpful to have the right people around you that can provide some of their own experiences or advice which can be invaluable.
Super important to surround yourself with the right people, the right community people that you look up to that have achieved what you want to achieve. Being someone who’s coming from a sporting background, I really like this quote. It kind of helps me with my daily decisions and moving forward and making progress and taking action. And that quote is, you miss 100% of the shots you don’t take. We’re surrounded by opportunities and we just need to be aware of them and be open to finding out more about them and receiving them. So if you can take the attitude of, ‘you miss 100% of the shots you don’t take’, into the world today and over the next few weeks and just think, well I’m going to be that yes person that says yes to these opportunities that come in front of me or I’m going to be open to exploring these opportunities with an open mind.
But also knowing that I’m going to do my research. I’m going to ask the advice of experts who have done and gone through this before and have achieved what I want to achieve so I’ve got all the right information. Then I think when you do these things, you’re going to be able to more quickly achieve your goals for your life and the lifestyle that you want for yourself and your family.
He gives his own book recommendation and also tells us about how useful podcasts can be as well.
There are many that inspired me across the years and more recently podcasts. So I think subscribing to Property Investory and making sure that you get this advice in your ear on a daily basis, on your commute to work or wherever it might be. I think that’s really important to surround yourself with the right advice and the right people. Maybe it comes through podcasts or from books and one book in particular that has inspired me over the last 12 months has been, ‘Work Less, Make More’, which is a pretty inspiring title. It follows a little bit around my philosophy recently which is trying to take a little bit of a step back, work a little bit less, but still increase my wealth and increase my cash flow. And that’s a book written by James Schramko.
Property investment can be pretty stressful and you need to be able to take a timeout and relax your mind. Austin shares with us how he is able to do that.
I’d say sport like when it comes to property investing, I think it can be quite stressful or any financial investments like they are big decisions. When you are going and purchasing such a big thing like a property, clearing your head and making sure you have the right focus and getting that thousand-foot view of your life rather than just being ingrained in the daily tasks and the whole rat race. It’s good to step back and take another look from a different angle at these decisions and what you’re doing and moving forward. And so for me, it’s a real sport that allows me to do that.
Right now it’s either going out surfing or swimming where there’s no device that I can check, my mobile phone, emails or these alerts popping up from the social media. I can just be by myself and be with my own thoughts. I think it’s something that’s missing from our lives more and more because of the mobile phone, it’s with us all the time. Grabbing our attention with alerts and so forth. So if you put that down, step away, go for a run or go for a swim, go for a walk, whatever it might be. I think that’s really something that has helped me make better decisions and be more focused as well as just to be happier as well.
Looking back, we find out what Austin would have liked to change or improve on throughout his career in the past.
I think I would have shown myself the model of doing a virtual summit or an online conference back then. But even now, even right today, like doing an online conference or virtual event really does a lot for your own personal branding and exposure. Like people start looking up to you as an expert, as an authority, being the host of this industry event that pulls together the influencers in your market. It creates that network of influences that you build these relationships with that you can partner and talk about the opportunities of working together, maybe joint venturing. It brings in a bit of revenue, it builds your email list, which is a really big asset for our business nowadays.
So one of the biggest assets that a business can have is their customer list and just making an impact on the world. So virtual events can really have a huge impact in your market and give access to information to people who can’t afford it or are too far away to be able to get access to it for whatever reason. And so you are doing a really good thing and providing a really positive impact on the world. So I’d encourage people to go and check out virtual summits and online conferences and seeing whether that’s something that could maybe help you start a business or grow your existing business.
The last question for you is how much of your success is due to your skill intelligence and hard work and how much of it is because of luck?
Luck definitely comes into a bit. You make your own luck. And I think it comes back to that quote, you miss 100% of the shots you don’t take. I failed a lot. I’ve taken a lot of shots and I’ve missed a lot. But then there’s a few that land as well and those ones that land are the ones that move you forward and take you to where you want to be. So I just encourage people to look for those opportunities. Grab them when they can. Try to keep a positive mindset and outlook on things. Making sure that you are surrounding yourself with the right expertise, you’re getting the right advice and information to make better decisions.
If you want to keep in contact with Austin after the show, he provides the details in which you are able to do so.
You can email me at [email protected]. Check out nextforsale.com.au and the new property investor tool that allows you to buy property below market value and release that instant equity. Otherwise, come to the show. We’d love you to be in attendance and there are those networking events, so we can meet virtually and that website’s propertyinvestmentshow.com.au and go and grab your free ticket and Tyrone’s talking there as well and he’s got a great session, so I encourage you to show up and show him some love as well.
This episode was produced by Andrew Faleafaga with narrations and interviews conducted by Tyrone Shum.