Wed Dec 13 2023

Amy's Financial Upbringing and Values:

• Amy's exposure to her parents' small business ownership from a young age instilled tangible money values in her, shaping her strong work ethic and good money habits.
• Witnessing the hard work put in by her parents while growing up led Amy to believe that financial success is achievable through dedication and effort.

Impact of Moving to Kalgoorlie:

• Amy's decision to move to Kalgoorlie for a job opportunity became a pivotal moment in her financial journey, leading to sacrifices that ultimately enabled her to save for a deposit on their first property.
• The experience of living in Kalgoorlie sparked an interest in property investment due to the limited spending opportunities, prompting Amy to educate herself extensively on finance and property.

Strategic Property Acquisition Strategy:

• Amy strategically invested in property by initially purchasing an owner-occupied home with favorable mortgage arrangements, followed by acquiring coastal infill land locally and constructing a house with an attached granny flat for increased rental yield.
• Despite acknowledging initial mistakes such as using funds from their offset account for the land purchase instead of releasing equity from their property, these investments have proven successful and become valuable assets over time.

Property Investment Strategy:

• Amy and her wife decided to build a house with an attached granny flat, aiming for extra rental yield.
• They encountered challenges finding a builder willing to execute their plan but persevered due to extensive research and understanding of council regulations.
• The couple's approach involved hands-on investment in property, leveraging equity release, and strategic decision-making based on cash flow considerations.

Financial Planning and Lifestyle Choices:

• Amy and her wife strategically planned their investments around family planning, choosing to acquire properties before starting a family.
• Their deliberate decision to work part-time reflects a balanced approach between financial growth and personal time with the family.
• Despite being impacted by interest rate increases, they maintained adequate buffers while anticipating future decreases in interest rates.

Life Outside Capital Cities:

• Amy emphasizes the benefits of moving out of expensive cities for reduced living expenses and potential savings opportunities.
• She encourages individuals to consider alternative locations for both lifestyle experiences and financial advantages, reflecting on her own diverse travel experiences within Australia.

Strategic Decision-Making:

• Amy's story underscores the significance of stepping outside one's comfort zone, challenging conventional norms, and embracing unconventional paths for financial success.
• Her emphasis on delayed gratification highlights the importance of making sacrifices early on for long-term benefits.

Living the Journey:

• Amy and Samantha's story showcases how they moved and pivoted to make their circumstances allow them to get on the property ladder.
• The dedication to apply for opportunities has resulted in tangible outcomes, showcasing the rewards of delayed gratification.

Foundational Principles:

• New community members are encouraged to listen to the first 20 episodes as they contain foundational principles, pillars, and frameworks essential for obtaining the best value from the content week to week.
• A binge guide summarizing these foundational episodes into an easy-to-digest booklet is available for those who are time-poor and unable to go back to the beginning.

Free Goodies and Resources:

• Listeners are directed to access various free resources, including a Lifestyle by Design app, Wealthspeed, Wealthclock, Money Smarts money management system, and free copies of bestselling books through the show description on any listening device.
• It is reiterated that anything covered in the podcast is not considered financial advice. Seeking expert advice tailored to unique circumstances is strongly recommended.