Apparently we are really taking advantage of the low interest rates and while that seems like a good idea, there are some reservations and the possibility exists that we may just be overextending. Some good advice today on that subject from Bessie Hassan.

We take you over the ditch to look at real estate New Zealand style when we catch up with the host of Grand Designs New Zealand.

What would your kids do if their Grandma or Grandad gave them $20 as a birthday present? Today we tell you about a book written to help kids understand the importance and true value of money. Paul Clitheroe has said “Every child, teacher, parent and grandparents should read this book. Find out why as we talk to the author – Effie Zahos.

Is it possible to live off the equity in your property portfolio? Yes it is and we share some living proof that anyone can do it as we talk to Eddie Fuller about how he is ‘living the dream’.

Find out the reasons why John McGrath say that South East Queensland is the hottest place to invest right now.

You can learn lessons from the fortunes and misfortunes of Australasia’s richest people. This year, there were more billionaires than ever, and a quarter of the BRW Rich 200 list made their money in property. Michael Yardney shares his thoughts on how they did it.

 
Transcripts:
Eddie Fuller - How to live the dream
Kevin:  I had the privilege recently of attending Michael Yardney’s Wealth Retreat on the Gold Coast. Earmark it for next year. If you haven’t been to a Wealth Retreat, you should get along. Some great people. A very, very inspirational five days.

While I was there, I caught up with Eddie Fuller who has built a great portfolio for himself of property, so much so that he now lives off of that portfolio entirely. I was keen to know how he has done it and to find out some of the lessons he has learned along the way.

Eddie, have you always had an investor mindset?

Eddie:  No. I think it is something that was developed. I probably got the investor mindset when I got into real estate. To start off in real estate, I read all of the investment books and learned the knowledge.

I think also my first boss was my mentor. He just basically said to me, “Eddie, what you have to do is make your income from real estate, but by real estate build your wealth through the assets of buying real estate.”

I think constantly going to seminars and things like that would have helped.

Kevin:  How did you get started? Tell me about your first property.

Eddie:  In investing, the first property I purchased was a little three-bedroom property. I was in real estate for about three years. It was just a residential three-bedroom, and it was a private sale.

Kevin:  In those early days when you were working with a principal, is that when you learned the skills to be able to become financially independent through your own portfolio?

Eddie:  Yes, it started from there. I think it started with watching. Like I said, my boss was quite successful even though he didn’t have a large property portfolio. That’s where I started with. Continuing from that, it was the books and the seminars, and was pretty much self-taught. I was probably from a very early start more interested in building a property portfolio.

Kevin:  Did that come from your family background, Eddie? Were your family into property?

Eddie:  Definitely not, no. My family were from a poor background, so I definitely did not get any investor intelligence from the family.

Kevin:  In those early days when you started investing, what sort of feedback did you get from your family and your friends about what you were doing?

Eddie:  The family was pretty much just my wife, and they were all supportive. I didn’t get any negative feedback, funnily enough, so I didn’t have anybody saying, “Don’t do this. You might lose your money.” I heard a bit of that later on as I started to build a portfolio,