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Published on 26 May, 2024
Good morning friend,

I’ve got a juicy special edition newsletter for your Sunday morning.

Are you someone who has negative beliefs around property investing?

I know I’ve had many over the years!

But the more I’ve learned from people much wiser than me the more these beliefs have been BUSTED.

One thing I’ve always had is an open mind.

It’s a character attribute that’s served me well and will serve you well if you want to become a financial success. 

This special newsletter is inspired from a conversation between Australia’s #1 Property Coach Oliva Ward and the founder of ‘Dashdot’ Goose McGrath on the ‘Dashdot Insider’ podcast.

After becoming a 1% property investor in her 20s while working at a call centre at Optus, Liv quit her job to become a property coach.

Liv has had 1000’s of conversations with people wanting to start their property investment journeys.

The 9 points below are the biggest myths she’s uncovered from her conversations with everyday Aussie’s who want to get ahead. 

The details below each point are my own takeaways from the conversation between Liv and Goose (with my own insights and thoughts added). 

If you enjoy this newsletter then I highly encourage you to listen to the full conversation here.

If you want direct access to Olivia’s expertise on property investing then don’t forget we’re running a masterclass on Monday evening that is capped to 10 people. 

You can register your spot here

Alrighty then, let’s BUST some myths! 🤯

1) You need your own cash to invest
Most people believe they need to save up their own money to buy their first property (I definitely believed this), but this is not true.

YES – you do need capital to get started. But it doesn’t necessarily have to come from your own savings. 

This is how Goose and his partner Gabi got started. They were broke, so they structured a private finance deal with their family, wrote out the terms of the agreement and created a plan to pay back the loan.

Instead of asking for a hand-out, they asked for a hand-up!

I love this way of thinking.

The question to ask yourself is: “Who else might have money that I could tap into for my investment?” 

This is how the big players think and operate.

Even though you may be a small fish right now, there’s nothing stopping you from thinking like a big whale.

“It takes a village to raise a family… and sometimes it takes a village to raise a portfolio.” – Goose

2) You should buy your own home first


Most Aussies have been brainwashed into this way of thinking…

Unless your goal is to own your own home for security reasons then that’s a different story. But if your plan is to build financial wealth as fast as possible then buying your own home first is shooting yourself in the foot.

Olivia bought 6 properties in 6 years by NOT living in her first home!

We’ve been conditioned to believe that owning our own home is a great investment.

But the truth is, it’s not. 

Especially when people get a big ass mortgage for their first home which eats up all their borrowing capacity (because of their massive repayments).

Rent-vesting is a strategy where you rent where you want to live and invest elsewhere. It’s a strategy both Liv and Goose used, and it’s one we’re also employing.

Now a lot of people say renting is throwing money away and they fear the landlord will kick them out…

I used to think this way too. 

Let me share this from my own personal experience.

If you are a 10/10 tenant and treat your rental as your own, it’s very unlikely you will get kicked out. Landlords love having reliable tenants who treat their property as their own. And this is exactly how Kaci and I act with the place we rent.

Renting also gives you far more flexibility, you’re not locked into a postcode.

The other handy thing for us is we claim 34% of our housing costs as a tax deduction because I operate my business from home.

The other important thing to consider here from this myth is:

– Debt on your own home IS NOT tax deductible

– You don’t get any income from buying a house you live in

Debt used for an investment property IS tax deductible and it puts money in your pocket. This allows you to fast-track your journey to getting the next property.

3) You need to be in a job for 6 months before you borrow money

This is another one I also believed.

But there are roughly 440 lenders in Australia, it’s not just the big four banks.

Some lenders will give you lending approval one day into a new job as long as you have an employee contract or letter from your employer.
The lesson here is NOT to self-assess your situation. Because unless you’re already a property expert, you have no idea.

Go speak to a broker.

Right now I’m in the process of speaking with a broker for our own situation. Even if we can’t borrow money right now, I still want to understand why we can’t and what gaps we would need to close to borrow.

Don’t have the DIY mindset like most Aussies do… VALUE YOUR TIME and KNOW YOUR LIMITATIONS. 

Liv and Goose also highlighted the point of speaking to multiple brokers. 

If one says ‘no’, go speak to another one. Because not all brokers are created equal, and some have expertise in different areas.

Key Takeaway: Be a persistent mofo. Don’t give up. Never take ‘no’ as your final answer. 

4) You need to be a high income earner 
Most people believe property is expensive and they can’t get into the market because they’re not a high income earner.


“What bleeds reads” – the media love filling your mind with gloom and doom.

Liv has helped single Mum’s on low incomes kick-start their property investing journeys. 

If they can do it, you bloody well can too.  

With a big enough WHY you can overcome any how.

Control your expenses, prioritise your financial goals, make some sacrifices.

Sometimes that means taking a step backwards before you can move forwards. 

E.g. moving back in with family for a period of time to reduce your costs and increase your borrowing capacity to get your first investment property started.

5) You need to buy property that’s local to you

“I need to see it. I need to touch it. I need to drive by it.” 


Successful investors DO NOT get emotional with their investments.

Plus, the odds of you buying a property locally and it being the right area to invest is extremely low…

“Yeah, but I’m a tradie and if there’s a broken toilet I can go and fix it myself.”

Please stop the DIY mindset…

This is what property managers are for!

You don’t invest to give yourself more work to do. You invest to give yourself more FREEDOM.

Wealthy people prioritise and value their TIME.

The less emotion you have with your investment the better you will do. 

6) Paying Lenders Mortgage Insurance (LMI) is a bad idea
Ooo, this one I definitely used to believe!

“You must have a 20% deposit to buy a house or else you have to pay LMI.”

Bet that one’s been drilled into your head.

Maybe if you’re buying a home to live in, saving up a 20% deposit could be a good move, but if you’re buying an investment property (which is what this article is all about) then this will hinder your progress.

LMI is not bad. 

It’s just a way for the lender to protect themselves.

LMI is a tool to help you fast-track your property portfolio journey
It gives you the ability to act fast and conserve more of your own money.

7) You need to wait until your fixed rate loan has finished before you can pull out equity

“Most lenders will allow you to pull out equity and get a pre-approval.” – Goose

Sometimes you have to pay a break-fee if you want to get out of your loan or refinance.

We can get all sh*tty and think, “I don’t want to pay $10k to break my loan!” 

But you’ve got to understand the cost of NOT breaking the loan!

How much will it cost you if you wait another 6 to 12 months to get started on your property investment journey?

Probably $100,000+ over time! 

Liv mentioned she paid $6,000 to get out of a loan faster because she knew this was a small price to pay for the money she could make on the new deal.

Sometimes you have to pay money (or lose money) to learn valuable life lessons.

If you’ve never lost any money, then you’re playing life way too safe…

Celebrate your mistakes and learn from them.

They are your best teachers.

8) Debt is Bad!
IMO probably the biggest one of all!

I love Liv’s thinking on this one – she views debt as an asset. She views it as a tool to fast-track your wealth building journey. Using Other People’s Money (OPM) is smart.

This comes from ‘Rich Dad Poor Dad’.

You must know the difference between an asset and a liability.

When debt is used to buy an asset (something that grows in value after you buy it and puts money in your pocket) it’s good debt. 

When debt is used to buy liabilities (something that loses value after you buy it and takes money out of your pocket) then it’s bad debt. 

When you use debt (OPM) to buy an investment property you are investing in an appreciating asset that will produce income. This is smart.

When you use debt to buy a brand new car that will depreciate in value by 20% as soon as you drive it out the car yard this is bad… 

(It makes me sick how this achievement is always glamorised on social media…)

9) Sydney and Melbourne are the only Places for High Growth
This is a massive limiting belief that holds so many people back.

The news and media tend to report on how property prices are doing in the major cities of Australia.

And because the median house price in these major cities is $1 million +, newbies feel defeated before they’ve even begun…

Because how the f*ck are you supposed to save a deposit for that?

But here’s the thing that Goose points out, 

There are 15,363 suburbs in Australia!

You DO NOT need to buy a property in Sydney or Melbourne to become a successful property investor. 

Here’s the kicker,

Liv built a multi-million dollar portfolio by NOT buying in Sydney or Melbourne.

The 9 Biggest Myths in Property Investing BUSTED! 🤯
Which myths have you been holding onto for all these years?

I’ve held onto seven of these myths in the past! 

Now I am by no means a property expert, but Liv and Goose are. Their results are outstanding. 

I can’t stress the importance of getting expert advice to help you on your financial journey.

On Monday night, Liv will be joining me to run a 90 minute masterclass called ‘How to use your Home to Replace your Income’ for my 1:1 clients and MMWM members.

I’ve opened up 10 spots to readers of this newsletter for $50.

A small price to pay for the value you will receive.

What’s it going to cost you by NOT being at this event?

Click this link to register your spot.

Enjoy your Sunday,

Disclaimer: This newsletter is NOT Financial Advice, this is for education and entertainment purposes only. Always seek your own professional advice and make sure you do your own due diligence before making investment decisions. Take responsibility for your finances. Don’t be a dumb-ass. 

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