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Questions to Ask a Property Manager before Handing the Keys

Start out Pretending to be a Tenant & Ask about the Properties they have for Rent

A great test is to walk into the agency dressed in your boardies and thongs and ask the person at the front desk for the list of available rental properties. You may want to ask some questions about them and try to book in to inspect a couple. This will be a great test to see how the property managers treat tenants. It will be a red flag if they treat you like crap, as this means they will probably not pass any tenant requests or maintenance issues onto you.

Ask for References from Some of their Clients, i.e. so you can phone them up

Testimonials are a great way to make sure your property manager has clients who are happy! Always ask for phone numbers as you can ask the question yourself rather than reading flashy written ones which could have been pried out of people with free movie tickets or a bottle of wine.

Ask about their commission, extra fees & what is included in marketing of home for lease?

Commission: Average property management commission ranges from 7% to 9% around Australia.

Admin Fees: There are sometimes sneaky fees on top of this such as admin fees. In my opinion this should be part of the commission – but agents separate this out to make their commission figure look cheaper than the rest.

Letting Fees: Fees to recruit the tenant. The letting fee is normally around 1-2 weeks rent on top of the commission.

Fees for outgoings paid: If your agent pays for water bills or rates or STRATA fees – you will often pay a commission fee on this – make sure you know if it is there and if so what it is? Same as commission? Save some money and set up direct debits for your bills so your not paying costs on top of your costs.

Marketing Fees: It’s important to also know what the marketing fees will be too – if they are included in the letting fee or an extra? Will they include professional photos? How many photos? Will it include a floorplan? Will it be advertised on both realestate.com.au & domain?

Marketing Message/Copy: Will you define the demographic/perfect tenant you are targeting? Will you emphasise the best features of the home & surrounding amenities to attract the right tenant? Will you be able to review this ad copy before it goes live?

How to Compare? The best way is to compare and add up the fees you will be paying per year and come up with a percentage of the total rental amount. Fees can be deceiving and when you include them in the total cost you can work out a comparable percentage and compare apples with apples.

Note: that you should never just pick the most expensive and think they will be the best. Ask the questions to make sure they have the right policies in place and the right customer service to take care of you and your tenants.

Ask about the agency? 

How many property managers? How many properties being managed? How many evictions in last year? How many tribunal hearings in last year? How many properties vacant right now? How many stay vacant for more than 2 weeks every year? Average time takes to tenant a good property? What is your point of difference? Are you property investors yourself? Do you have a focus on maintenance? What minimum education do property managers have – 1 week registration or 1-2 year licensing course? Do your inspectors have any maintenance training? How often do you have to ask the landlord to drop the rent? Do you provide market appraisal document with comparable rental prices?

Ask about the ongoing service & communication you will receive?

How do you market the property? What quality of photography? Floor plans included? What do I get in terms of income/expense statements? Are they easy to understand or written in ‘another language’ where you can’t actually figure out what they are charging you for? Can I have a copy? How detailed are your leases? How detailed are your condition reports (condition of building prior to tenant move in)? Can you have copies?l What do you receive after each inspection? Are photos included? Can you have copies or reports? How often do you inspect the property? How quickly can you get a request to me once the tenant lodges it? How do tenants lodge requests? What is your rental arrears management policy? How quickly can you act if tenant starts falling into arrears or requires termination notice at what stage do you notify the tenant and the landlord?

Are you happy to go on a 30 day contract?

Not sure if they are all talk? One thing to definitely do is cross out the standard 60 to 90 day property manager notification and write 30days. that means if you get a crappy property manager you only have to give 30 days termination notice. If they are doing their job properly this shouldn’t bother them.

Credit: Australian landlord institute

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How to use failure to accelerate success

Failure is an integral part of every entrepreneur’s journey to true success. I can guarantee that every person reading this has failed in some respect on their path through life so far. But failure doesn’t equate to loss – instead it encourages, and often accelerates, your future success.

Consider learning to walk as a child. At first, your legs are jelly – you don’t have the confidence or the knowledge to stand up, let alone make full use of their potential. But persistence, and encouragement from those around you, drives you from a crawl to a walk.

As you grow, so does your confidence and your experience, until eventually you’re running – sprinting – and seeing how far you can push yourself beyond what was once an unimaginable task.

To succeed in both business and life, we must accept that by our own hand or someone else, we will fail. What we take away from this to nurture and accelerate our success is entirely down to the belief you have in yourself, and your resilience as a businessman in the face of failure.

Remember: everyone must learn to walk, it’s only through failing and picking ourselves up again that we can find the confidence to run.

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Living an Extraordinary Life Means Giving Up a Normal One

The larger mob of society will never experience true success. Why? Because this majority is unwilling to become the CEO of their life – they’d rather someone else call the shots.
They are unwilling to take risks, to fail publicly or be forced to try again after getting knocked down. They are unwilling to sacrifice what is good for what is great. In short, they are unwilling to give up their ‘normal’ life. But this is what is required to live an extraordinary life. You must give up the normal life for something far more valuable.

Evolving is painful.The more you evolve into the best version of yourself, the more you’ll be required to give up. You’ll reach a point where you’ll no longer be able to tolerate negative relationships, eat bad food or spend your time on time-wasting activities. Giving these things up is painful. Most people aren’t willing to do what needs to be done.

Living the Life No One Else Is

“Live like no one else now, so later you can live like no one else” – Dave Ramsey

I have only just began to take some major steps to live an ‘extraordinary’ life. It’s been hard as hell sometimes.

The first major step for me was counseling. Over the course of three years, I underwent some serious emotional recovery of the wreckage of my past. My history is full of broken family relationships, intense shame, and self‑loathing; all emotional baggage I never dealt with.

I made the choice to get all this shit out in the open. To tell a therapist about the time my high-school girlfriend of two years dumped me after I admitted I had a problem looking at pornography, and then proceeded to tell all her friends about it. Or when members of my family favoured my cousins over me because I didn’t party, do drugs or sleep around like they did.

I realised an extraordinary life meant confronting and resolving all the shit that happened to me. Shit happens to everyone, but most people don’t deal with it. That’s the sign of a ‘normal’ life.
The next step for me was actually attending counseling, the hardest struggle I’ve ever had to go through. I still struggle. But now I can live an extraordinary life because I’ve dealt with my past and stopped letting it call the shots.

These are signs of an extraordinary life.

Everything Has a Cost

“Good is the enemy of great. And that is one of the key reasons why we have so little that becomes great. Few people attain great lives, in large part because it is just so easy to settle for a good life” – Jim Collins, Good to Great

People who prefer to live a normal life don’t want to pay most of the costs of an extraordinary life.

Everything worthwhile in life has an opportunity cost. If you accept opportunity A, that means passing on opportunity B. You have to give up something in order to accomplish something else.

If you want to live an extraordinary life for the long term, you’ll need to give up some things in the short term. Some of these things may be dear to you, which makes them extremely difficult to let go. No one said this would be easy.

For some, that means stopping looking at pornography entirely so they can start to actually connect with others. It might mean giving up some of their favourite foods so they can finally see abs they’ve never seen before. It might might mean seeing friends less often in order to do the work necessary to succeed.

It might mean declining wedding invitations because the trips are too expensive. Maybe it means giving up sleeping in so you can have more time in your days. Maybe it means saying no to opportunities at work so you can remain a loving, present father to your children.

All great opportunities cost good ones. An extraordinary life costs a normal life. You can’t have both. You will have to sacrifice something that you value less than whatever it is you ultimately want.

Make no mistake, this is a high price to pay. In fact, many people simply decline the offer of an extraordinary life after they discover how much it would cost. And that’s OK. An extraordinary life isn’t for everyone.

But if you want to live the extraordinary life no else is living, you’ll have to start living a life no one else does. This means giving up a ‘normal’ life.

The 3 Things Everyone Needs to Sacrifice

“It is better to fail in originality than to succeed in imitation” – Herman Melville

Everyone has different, unique things they’ll need to sacrifice in order to begin living an extraordinary life. But there are three things everyone will need to give up.

1. Security and Certainty

One of the cornerstones of an extraordinary life is giving up the safety nets, security and guarantees of a normal life. Maybe this is a steady paycheck at a job that will never allow you to reach your full potential. Maybe it’s the static 9-5 schedule. Maybe it’s a guaranteed retirement plan.

Of course, you don’t have to live in this scenario for the rest of your life. This lifestyle is exhausting at first – you’re always on your toes, never knowing when the next paycheck is coming in, unsure of the future.

But the extraordinary life gives you full control over your life and actions, at the cost of the comfort of having others call the shots. This is one of the hardest parts to give up, and takes a long time to really sink in for even the most dedicated entrepreneurs, adventurers and risk-takers.

2. Fear of Judgement

“The worst part of success is to try to find someone who is happy for you” – Bette Midler

If you post a status on Facebook that says, “I got the job!” you’re likely to get dozens, even hundreds, of likes. But if you post a status that says, “I finally started my own business!” you’re likely to experience little engagement at all.

If you post a status on Facebook that says, “I got the job!” you’re likely to get dozens, even hundreds, of likes. But if you post a status that says, “I finally started my own business!” you’re likely to experience little engagement at all.

Which brings us to the next requirement of an extraordinary life: letting go of your fear of judgement. Trying to explain your extraordinary life to others will begin to seem like a lost cause. Most people are afraid you’ll achieve the dreams they never did, and so they attempt to protect themselves from that failure by bringing you down.

The extraordinary life looks crazy to an outsider. They don’t understand it and they’re afraid of it. To an individual living a ‘normal’ life, the characteristics of an extraordinary life seem foolish, stupid and unrealistic.

They don’t understand why you go to the gym even when you’re exhausted. They don’t understand why you’d wake up at 6am on the weekend when you could be sleeping in. They don’t understand why you’d prefer a wild, inconsistent, frightening life full of uncertainty when you could choose the comfort and safety of a normal one. So they judge you.

They criticise you, condemn you and ostracise you by singling you out as stupid, naive and silly.You must ignore this. You will never succeed if you continue to take more stock in what your critics say than what you belief about yourself.

This is another extremely difficult thing to give up. Separating ourselves from the herd is scary, and the criticisms and warnings from others might even sound wise. Let it go. This is your life, not theirs.

3. Other People’s Definition of Success

In the words of Srinivas Rao:

“At some point, I realised that I had to give up other people’s definition of success. This is one of the most difficult things to give up because it is so deeply embedded in our cultural narratives that it becomes the standard by which we measure our lives. Even as entrepreneurs we have collectively agreed that fame and fortune are the markers of success.
“But, giving up other people’s definition of success is incredibly liberating and ultimately leads to the fullest expression of who you are and what matters to you. It’s not a one-time thing. It’s a daily habit of comparing less and creating more.”

Success doesn’t just mean what the larger mob of society says it means – ‘lots of money, fame, and fortune’. Many people with fame, fortune and lots of money have terribly empty, imbalanced lives.Your success isn’t defined by what other people say.

In conclusion

“Success is continuously improving who you are, how you live, how you serve and how you relate” – Benjamin P Hardy

No one can define your success but you. If you continue to let others tell you what success is, you’ll never reach it. Even if you did, it wouldn’t be a true success, because it’s not what you really valued.

No, living an extraordinary life means defining your own version of what success is. You can begin to spend your time on what really matters to you.Do you really want 100,000 Twitter followers? Do you really need to be in the Forbes 30 Under 30 list? Do you really want to be a New York Times bestselling author? Or is your version of success more narrowed, more focused, more specific?

Do you really want 100,000 Twitter followers? Do you really need to be in the Forbes 30 Under 30 list? Do you really want to be a New York Times bestselling author? Or is your version of success more narrowed, more focused, more specific?

If you want to live an extraordinary life, your definition of success must be your own. If we are always chasing what other people tell us to, we’ll never experience true success. Let go of other people’s versions of success. Define your own success, and achieve it. That is

Let go of other people’s versions of success. Define your own success, and achieve it. That is true success. Ultimately, it’s up to you what you’re willing to sacrifice to achieve an extraordinary life. There is no formula. But one thing is certain: you will need to sacrifice.

It will be hard. It won’t be pleasant.

But the life you’re achieving – the extraordinary life – will be more rewarding than a normal life could ever be. Your relationships, finances, health, knowledge, passion and purpose will all reach levels higher than ever before.

The cost of an extraordinary life is great. Is it worth it to you?

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Mind Power

Your life and your world is a consequence of what you think.

You may not realise your mind is an incredibly powerful tool and even the Einstein’s and Hawking’s were using less than 10% so learn how to use it and enjoy unbelievable success.

I have just had the most wonderful weekend learning “how to use my mind” with John Kehoe and Robin Banks! Simply unbelievable. Everything success is in the practice, so get the Mind Power book or do the course and tap into significantly more of your potential with a half hour daily practice.

Being able to clearly state your goals is essential to being successful in anything you do, just as it is to know your destination when trying to book an Uber. If you don’t know where you are going you can’t get there!

To be effective goals need to be written down and be: SPECIFIC, MEASURABLE, ACHIEVABLE, RELEVANT, TIME BOUND.

Types of goals

Long-term – 10 years

Mid–term – 5 years

Short term – 1 year

Be as brave and as audacious as you can possible manage.

Most people over estimate what they can achieve in 1 year and underestimate what they can achieve in 10 years. It takes an equal amount of Mind Power to achieve a small goal as a big goal.

Choose large goals with “juice” to inflame and influence your imagination and your emotions.

Write your goals down in a narrative, what you want in your life in terms of finances, family, travel, relationships, material possessions or if you are a visual person create a picture board (pictures of your goals).

Mind power

We have 60,000 thoughts per day.

If you control your mind you control your life!

Mind Power teaches a bunch of techniques to manage what you think.

We live in two worlds: The inner world – Our thoughts, feelings, attitudes and beliefs. The outer world – Circumstances, situations, what’s happening in our physical world.

KEY LEARNINGS:

We can control our inner world and through this we influence our outer world.

Let go of the past and live in the now! No one is responsible for your happiness except yourself.

Change your thinking to imagine you already have want you want (even if it isn’t already true), e.g. “I am having an awesome and outstanding day”.
Your success helps everyone. Your failure helps no one.

Mind power teaches how to programme your own subconscious by using techniques such as:

  • SEEDING – by planting new desirable thoughts and beliefs into your subconscious mind.
  • VISUALISATION – by teaching you to use your imagination to see yourself already having what you want.
  • AFFIRMATION – is a short rhythmic positive statement that you repeat over and over. It is often something you aspire to being or having.
  • ACKNOWLEDGE – what you have already achieved daily. It is part of increasing your belief system.
  • CREATING – is the best part of each day where you get to practice living your future life and just for a few minutes you create that in your mind.

My friend and business partner Les Probert assisted in simplifying two days into this brief outline, next month I will be writing about Incremental accumulation.

Your life is the way it is because of you.

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5 Ways Great Leaders Motivate Their Team

Happy workers are productive workers. A motivated, passionate group of employees are going to work hard and help your business grow. Maximising revenue and increasing productivity will help your bottom line, but to get there, it is key to make your staff feel valued.

Here are five ways great leaders motivate their team.

Find the right people – and empower them
Do you have the right people, doing the right job, with the right resources? Empower your staff to do their work and do it well – and allow them some input on how the job gets done. They’ll feel trusted, valued and more responsible for the outcomes they deliver. If that’s not the case, think seriously about whether that individual is right for the role and for the business. A high-performing team feeds off each other and one toxic person can quickly weigh down the group.

Value your team and celebrate success
Great work should be noticed, recognised and appreciated. Whether it’s a quick email, a thank you or a shoutout at the staff meeting, your team should know they are valued. When someone goes above and beyond, it’s management’s job to shout it from the rooftops. Enthusiasm is infectious – so spread the good word and your team will continue to raise the bar.

Offer goals and incentives
While your staff are growing the business, they should also be growing as individuals. Make sure that along with setting objectives for the organisation, you’re giving each member of the team professional goals to work towards. No one wants a dead-end job, so offer opportunities for career advancement and increased remuneration as their skills and experience develop – or risk losing your best teammates to another business.

Have a vision – and communicate it
Don’t overlook the importance of employee communication. Leaders are busy, and it can be too easy to become a face on a newsletter or a name on an email. Touch base with your team in person. Share your vision for the business and engage their input. Do your staff feel comfortable approaching you, or other members of the management team, with new suggestions and ideas? Your vision will only be achieved if everyone is working towards it – so get your employees involved.

Lead from the top
You should be starting the new working year with vigour, feeling well-rested and motivated. Get your staff feeling inspired about what the business is setting out to achieve, and show them you’re excited about the year ahead. As a leader, what you do and how you approach the job plays a big part in your organisation’s culture. If you’re not passionate, why should they be?

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Unstoppables

Amazing people, going to amazing places to produce amazing results.

Amazing people, going to amazing places to produce amazing results.

Amazing people, going to amazing places to produce amazing results.

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Do Not Hide Behind Your Potential

Do not hide behind your potential – get your copy of WealthGoal today and let’s get your strategy into action and achieve your goals.

Do not hide behind your potential – get your copy of WealthGoal today and let’s get your strategy into action and achieve your goals.

Do not hide behind your potential – get your copy of WealthGoal today and let’s get your strategy into action and achieve your goals.

Do not hide behind your potential – get your copy of WealthGoal today and let’s get your strategy into action and achieve your goals.

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