Pete Wargent
speaker
553 appearances
2 recordings
1 series
first heard Oct 2022
last heard Jan 2023
Pete Wargent’s voice in public audio — every appearance, attributed to the second.
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Appearances
Certainly, being a Brit, we've had the boom-bust economy over the decades.
You see people who buy at the peak, make big mistakes.
It can set them back years and years in terms of their financial progression because if they're in negative equity or underwater, very hard to move forward from that.
So avoiding those mistakes, well, it's critical really because as you say, if you buy well, build some equity.
I mean, that can be something that you can then leverage or build on down the track.
Yeah, I think if you read a lot of the sort of financial independence retire early blogs these days, they're very focused on buying index funds, income focused.
Our journey was a bit different because...
My wife and I were both directors at one of the big four accounting firms, higher income earners.
Both of us, I wouldn't say we sucked at it, but we weren't particularly high performers in the professional sphere.
So our journey, and bear in mind, borrowing capacities were a bit different back in those days.
We went very hard into property.
That was our journey, mainly in London, bought a few properties around Sydney, joined the financial crisis when things had...
There was a bit of panic around.
So it was mainly a property-based journey for us.
I was mainly interested in stocks originally.
It was actually my wife, Heather, who got me into real estate because when we first met, she was doing so much better than me.
And it was largely because she bought a house when she was 21 in a place called Cambridge in England.
And there was that that sort of brought me around to the idea that if you buy well in property, the leverage can help you.
So yeah, I quit the full-time gig at 33.
Yeah, we had a portfolio of properties mainly in London and Sydney, but there's different ways to go about it.
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