What Happens in a Free Strategy Session?

We’ve talked a lot about free strategy sessions in previous episodes, but what exactly is a free strategy session and what can you expect to get out of it?
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Resources Related To This Episode

2 Properties to Financial Freedom

Transcription:

We’ve talked a lot in previous videos about offering free strategy sessions to you guys out there and today I have with him not Ben Everingham, but Simon Everingham from pumped on property who’s been doing all the strategy sessions lightly and say we’re going to be talking about what happens in a free strategy session. So, Hey Simon, welcome to the channel. This is your first time on how’s it going? Get a guide. Have really excited. I can’t believe it’s taken us this long to get me in front of the camera and getting in front of our audience and actually having a meaningful conversation. Yeah. So do you want to give people, because those who don’t know you, if people haven’t had a strategy session yet, they’re not going to know who you are. I’ll just say because you haven’t been on the channel before. So do you want to give people a bit of a rundown of who you are, why you’re so passionate about property, and then we’ll talk about these strategy sessions.

Yeah, of course. So ben’s Ben’s younger brother, um, moved up to Queensland from all sides. It’s idling around 18 months ago and have been shouted, has been shadowing Ben ever since I moved up and learning everything there is about property. I’m similar to him. I’ve got a massive passion for bettering my financial situation in the future and having financial freedom. I’m so. I come from a background in management and marketing and um, the skill set that I had kind of just fed me into this business and what it was I’m needing at that point in time. And Yeah, ever since I’ve moved up, I’ve been really enjoying it and just learning as much as I possibly can and have been having lots and lots of really meaningful strategy sessions with a whole bunch of different investors. I’ve probably talked with over 500 investors over the last 18 months and um, which has given me a really good understanding of where people are at and where they want to be and um, how they want to get there as well.

Yeah. And something that I love about Simon is that he’s just so passionate about learning. So like me and Ben, like throw things at him or throw it wasit animal books you should read and stuff like that and he just let devalues it and has such a good attitude to learning. So you guys will be saying, Simon, I’m more on the channel in the coming months and hearing from him because he’s got a lot to share. So let’s talk about these free strategy session. So if you guys don’t know what we’re talking about. Um, I worked very closely with the buyers agency pumped on property and they offer free strategy sessions to people to help people really understand like where they’re at now and get a plan to move forward towards that goal of financial freedom or like whatever it may, whatever their property investing goals may be. And so just to clarify for everyone that these strategy sessions, you don’t need to come to the sunshine coast in Queensland in order to have a strategy session. These are offered, um, over the phone. And so what does happen in a strategy session, Simon?

Um, yeah. So during our phone conversation, we’ll catch up and we’ll talk about four things. Initially, which is about where you are right now, your financial situation, where you’re looking to be in the future 15 to 25 years from now, the roadblocks that might be currently holding you back from achieving your property investment goals, and then also looking at your next action steps as well.

Okay, so let’s break those down and go through those individually because whether or not people attend a strategy session, I think this is going to be really a really helpful exercise for people to do themselves as well. And so let’s start with the first step, which is where you’re at now and really assessing your current situation.

Definitely. So you want to figure out if you’re in a situation to borrow what you need to do to get into a situation to borrow money and get into the market. So you want to assess your finances, financial situation and how that sitting, um, you want to look at the properties that you may already own, investments or primary places of residence, um, and just having a really good understanding of what you need to do to get into a situation to borrow. Or if you’re already there were what might be the right market for you to get into?

Yeah, and I’m guessing also like most people are coming to these strategy sessions and where they are now isn’t necessarily where they want to be, but it is really important to really take stock of where you are because it’s very hard to move forward if you’re not realistic with where you’re at. Let’s say you want to go and do the two properties to financial freedom strategy that we’ve talked about, but you’re in a current situation where you can’t borrow any money. Well that’s going to be a very difficult situation for you in order to do that. So like someone was saying, working out where you are working out as well. What you need to do to get in a position to buy is going to be really vital. If you want to invest

and after we’ve looked at where you are right now, it’s really important to focus on the longer term picture, so identifying where you want to be in 12 months from now and that might be on your way to purchasing your first investment property or purchasing your first investment property and then really looking at what you want those investment properties to do over the longer term. So we understand that there’s no way to get rich quick. This is property is the longterm play. So we want to identify where you want to be in 15 to 25 years. Now and I know you and Ben have talked about our two property strategy to financial freedom. I’m so that’s a lot of the things that we’d like to identify. What sort of passive income do you want to achieve in what period of time to sustain a happy lifestyle and make the choices in your life that you want to make.

And I’m guessing everyone will be different with this. What their goals are and 15 to 25 years in terms of the income levels that they want to achieve. And that will also be different based on where they are now. So people earning a higher income probably want a higher level of passive income than someone earning a low income. Is that right?

Oh, exactly. There’s some people that are shooting for the stars and, and really want to achieve, uh, a substantial amount of passive income. They might want to hold a certain amount of equity which is completely fine. And then we also have the other end of the spectrum where people I’m really passionate about living off the and doing things for other people and, and they really want to just have it easy lifestyle, maybe $50,000 a year and live off the land go and volunteer. But then there’s also people that have large aspirations that want to start businesses and really give back to the community in that sense as well.

Yeah. And so I guess identifying where you’re at now, identifying where you want to be, then you can kind of see the gap between that, which is the next step. The roadblocks, which is, well, if this is where you want to be, why aren’t you there yet? Because you know, if you really wanted it then you should be there. So what’s holding you back and try and identify those things so we can break through them.

Yeah, exactly. Look as investors, we all face challenges whether we like to admit it or not. Um, I think that identifying those challenges early on is going to help in the long term process. So some of the things that pop up quite frequently during a strategy session, I’m probably the most frequent one is no mentor or coach. People really struggled to find the right mentor or the right coach through this process because it’s a large decision to make and also the social support living in as the Australian community, like we do not many people really like to talk about these things and yeah, there’s lots of information online which is great, but your immediate network of friends very rarely talk about their, their goals or their plans are what they’ve actually already achieved. Um, so it’s, it’s really good to identify some of these challenges and, and it makes it a lot easier to move on and go throughout this process. Once you understand the challenges that you’ve been facing,

that’s so key, that social thing that you don’t have people that you can talk to because even if you’ve got friends who are investing in property or people who own property, often people are really um, I don’t know, like talking about money is really awkward. Like I was just be syndrome. Yeah. Like I was just at like a school function and someone had bought a house, um, and they are showing us the house and I’m like, what’d you pay for it? But, and then kills like Ryan, like that could be rude. They might not want to say. And this person was like, no, it’s fine. I’m happy to tell you how much I paid. But yeah, there is that awkward thing. I always had it growing up. Like as a kid, I’d always ask people how much money they made. My Mum wouldn’t even tell me how much money she made because she found it really offensive. But I would always get around to people asking them like, how much money do you make? It was never awkward for me, but yeah, I do feel like in society we have that where it’s hard to find a support system and people passionate about talking numbers and talking property and talking this specific situation. I didn’t really understand why, but some people don’t want to talk about it.

Yeah, it’s fine and that’s why we offer these free strategy sessions as well so people can talk about what they’ve already done or what they’re planning to do and talk to somebody who’s going through the process himself, had many of these conversations before and can hopefully provide some decent feedback as well.

Yeah, and someone who’s passionate property and nerdy about the numbers as well, like it’s so good when you finally find that person to get in that Combo and you can go down into the nitty gritty and the numbers and talk about properties and suburbs and all of that stuff. What are some other things like what are some other roadblocks that hold people back apart from that? Lack of mentor, lack of coach, lack of social support.

Sure, so a lot of people face a limited market knowledge, limited education, limited skills, so identifying which resources that you should be following that are going to provide you with the right information that are gonna work for your current situation and your plans for the future as well. And once again there’s lots of information out there but not all of the information is relevant to your particular situation or where you want to get in the future. So it’s really important that people know exactly what they should be focusing on to get to their longer term goals, making sure that they’re taking into consideration their personal risk profile, family longterm goals, all of those things.

Yeah, well that’s a good point because there’s so much information out there about property investing in different types of property investing, but it’s not all going to apply to everyone. So if someone wants to take a real simple buy and hold strategy, there’s a lot of information out there about subdivisions or about development or about all of these different things that might not be relevant. So understanding, I guess, where your knowledge gaps are based on where you’re at, where you want to be, and how you want to get there. Then you can really start to work to fill in those knowledge gaps for sure. Okay. So after we talk about roadblocks and people identify those, that’s I think going to be really helpful to people out there because then they can obviously take steps to rectify those in and to move past those. Then we move on to their property investment goals.

Yeah. Which I believe is the most important aspect of the strategy session, but not too many people actually come prepared for this part because one, they may not have the market knowledge that that they understand which types of things that they want to be focusing on, but this is where we spend a lot of time actually getting into the nitty gritty what types of properties that you want to be taking in. So we’ll look at your risk profile, whether you see yourself as a lower or higher risk investor. I’m with them. Look at the type of attitude that you want to have towards investing as well, whether you see yourself as a passive investor or an active investor. So what I mean by that, a passive investor is the kind of laid back guy that just wants to invest, not worried too much about it and say that property go up in value over time where the active investor is somebody who’s willing to get a little bit more involved and do some sort of cosmetic renovation, structure, renovation manufacturer that the, some value to the property to increase the value or increase the rent at sand point in time.

Uh, some of the other types of things we would like to look at is what their main focus is going to be on. So whether that be a positive cash flow play or a capital growth play or both together. So understanding these things helps you identify which sort of market that you want to be in. And then getting down to even deeper level from there. Looking at, do you want houses, do you want units? Should you be focusing on regional? And should you be focusing on metro, uh, the quality of the house? Do you want to buy an ugly duckling and do some sort of renovation immediately? Or would you prefer to buy a livable place that has ran a renovation potential in the future? Do you want to buy an existing home? Do you want to buy a brand new home? All of these aspects of the property that come into play to identify it, what you want to achieve in the longterm. It’s so crucial.

And this is what I love about the personalized strategy sessions and it’s something that we can’t achieve in videos or episodes like this where we’re just talking to generalize people. The fact that you go through that risk profile of people and look at where like where they’re at as investors, what their risk profile is, what sort of things they want to invest in, and how much that actually affects the areas and the type of properties that they’re going to look at. Because we can talk about the two properties to financial freedom strategy. And if people haven’t checked out that video, I highly suggest you do go to on-property dot Kondo, you four slash five slash eight if you haven’t seen that already, but we can talk about that. But then each person is different and each person has a different risk profile and that’s going to affect what type of property is going to be best suited to them.

It’s going to affect what type of markets going to be best for them as well. So to really go through that list, like I’ve seen the checklist at the risk profile and been through it myself and to go through that because basically every video out there and training session and stuff, they teach you a way to make money in property, but they never asked you like what’s your risk profile, what sort of properties do you want to invest in? So that’s something that that sort of personalized strategy session you can achieve that we can’t achieve it just through the generalized learning by watching it on property or listening to the podcast.

Yeah, I hope so. And I hope people walk out of it with a lot more clarity and know exactly what strategy’s going to be the right one for you. And after we’ve walked through those four steps, then generally we like to look at what that person’s next steps are actually going to look like. So for people that might not be in a financial position to move forward and invest in property and sometimes we would talk about different resources that they can begin to follow to get a better understanding of property investing. Some of the people that we follow on a weekly, monthly basis to keep our finger on the pulse of the entire shine property market and also the guys that come off genuine and, uh, really looking to help people out.

Yeah. And so I really feel like those next steps are super important because you can set, I’ll suddenly people set these big lofty goals, but then they feel overwhelmed by them and they never actually do anything. But generally the next step, if you really break it down, is pretty simple. Like the next step might be, okay, go and get your preapproval. You know, so you just need to go and say I’m a mortgage broker and do that. That’s your next step. Once you’ve done that, then you can focus on the next one after that, but then there’s also a lot of people are in the position where they are ready to move forward and so what are the steps gonna be.

It does a lot of people that aren’t ready to move forward right away, but at the same time there’s just as many if not more people that are in a financial position to actually get into the market and begin their journey to financial freedom. So once we figured out absolutely everything about the type of person that you are, the type of investment that you want, then we’re going to get a little bit deeper and maybe work towards creating a higher level strategy of how can we map out where you are right now to where you want to be in 15 to 25 years time and talk about the types of strategies that you want to be targeting. The types of markets that you want to be targeting, the types of suburbs. The types of properties and really get a deep understanding of exactly what you should be focusing on based on historic data. For us, we like to focus on major metro markets like Sydney is like the Melbourne’s like the Brisbane’s. Um, we’d like to focus on timing the right market at the right time so we make sure that we look at reports from Herron, todd white on a monthly basis and see where they indicate each property market in Australia to be on. And really just getting an understanding of the fundamentals of property investing so that you understand what’s going to help you achieve your longterm plans as soon as possible.

Yeah. And so then people will walk away with not only an understanding of where they’re at now and where they want to be, but also the inbetween. So what they need to do next as well as, you know, what kinds of things should they be looking at in order to actually achieve their goal and end up where they want to be. Overcome those roadblocks and you know, buy those properties and achieve that financial freedom and then pumped on property as well. Do offer a buyers agency service, so if it ends up being that those people are a good fit, then obviously they can work with you, but if they’re not a good fit, then at least they’ve got a strategy where they can go on and they can do it by themselves and I can imagine there’d be some people who would just want to do it by themselves and there’d be some people that really want to have their handheld and walk through the process and something that I love about you guys as a buyers agency is that often people will buy coaching or they’ll buy mentorship or they’ll go to seminars and stuff like that and they’ll spend thousands of dollars on that and then in the end they’ll learn a lot, but they’ll still be overwhelmed, not take any action and not get anything done.

The thing I love about buyers agencies, and I’ve said this to bend so many times in private conversations, is that people are actually taking steps. When you hire a buyer’s agent, they’re going to walk you through it. They’re going to get you to the point of actually purchasing a property and moving one major step closer to financial freedom, which I think is what a lot of people need.

Definitely. It’s really important and it does make some of those challenges easier to overcome when you do have a partner that’s purchase millions and millions of millions of dollars worth of property in. They’ve ironed out all of those wrinkles and, and add all of those bad things that you can try to avoid in that, in those first couple of investments. And, um, I guess at a really awesome thing about working with us is we want to create that partnership, the longterm partnership where, um, we will provide you with all the intellectual property that we have. So every single bit of data or the suburbs, how we identify a good suburb, how we inspect properties, how we negotiate with agents. All of these things that it takes the average investor a very long time to understand all of these fundamental things. But because we’ve done it so many times and we’re working with a number of people every month, it does make that process a little easier and a little less daunting to.

Yeah, and so I’m really passionate to work with you guys and offer free strategy sessions. I know that a lot of people do these free strategy sessions and do decide to work with you guys in order to get your help to purchase property. And I know also a lot of people who do these strategy sessions, they walk away with a strategy and then they go ahead and do it themselves and have success. So I guess I just want to make it clear to people out there that these strategy sessions aren’t like a hard sell or anything like that. They are complimentary and if it’s a good fit then obviously you can hire pumped on property services to help you but you don’t. You don’t have to. And so I just want to thank Simon so much for coming on today and just sharing with people what these strategy sessions are about because I talk about them a lot, but I’ve never gone through and said here’s exactly what happens.

So I hope this has given you guys some insight into that. If you have listened to this and you’re thinking, you know what, that actually sounds pretty darn awesome. I want to go ahead and do one of those strategy sessions myself. I want to work out where I’m at now, where I want to be, the roadblocks that are getting in the way, and then, um, my property investment goals and next steps. If that’s you, head over to on-property dot com dot EU forward slash session. And you can read more about the strategy sessions over there and you can also go ahead and book a time that suits you to have that free strategy session. Thanks so much Simon, for coming on for the first time. Yeah, we’ll be seeing a lot more of you as I know you’ve got so much to give to this community. Thanks so much for watching. Everyone don’t forget to subscribe to the channel, and if you haven’t checked it out, please check out my video with Ben on two properties to financial freedom, absolutely epic video that you need to watch. So I’ll leave the links to that in the description down below and until next time, stay positive.

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