Six Deadly Mistakes: How To Lose Your Whole Portfolio

Thinh Nguyen, a Melbourne IT consultant, quickly built a six property portfolio, but then lost it.    🎓 After graduating with a double degree in Finance & Engineering, Thinh decided that property was going to be his way out of the rat-race!    💰 He chose property rather than shares due to the power of leverage, and had to convince his family that debt is not the enemy - rather it is essential to build wealth.   🛑 But after he bought six properties in Melbourne, Adelaide & Canberra, he had to sell them all.    In this episode we learn from his SIX BIG mistakes:  👉 No long term game plan or lending strategy and how refinancing multiple time cost him dearly without the right financial buffers  👉 Buying to develop without understanding the right feasibility study  👉 Only buying where he lived and missing out of growth cycles interstate  👉 No concrete & predictable suburb selection methodology  👉 Not knowing when to sell and missing out on property booms  👉 Paying a famous Buyers Agent from a Facebook Ad only to have to do the work himself anyway    🕒 Thinh also covers his biggest three pieces of advice from all his mistakes and years of investing experience   🙏 I'm really grateful that we can all learn from his experience - it's rare to find someone as humble, transparent and willing to help others    📈 Nevertheless, now he's enjoying his life and "back on the horse" restarting his investing journey.     Discussion Points: 00:00: Introduction 02:42: From IT consulting to property investing  13:24: Taking time to make a plan 16:10: Being honest and owning mistakes 27:49: Timing the market versus time in the market 31:28: Determine cash flow and reverse engineer 33:46: A horrible experience with a buyers agent 43:59: Top three pieces of advice 50:17: Conclusion      About The Host: Subscribe to Aus Property Mastery with PK for no BS, “straight to the point” property investing strategies and data-driven insights about the Australian housing market - the only property podcast not biased by a “Buyers Agent”. You can listen to Aus Property Mastery on Apple Podcasts, Spotify & YouTube Music.  PK Gupta is the founder of the Property Investment Accelerator — Australia's #1 Rated And ONLY 100% Independent Real Estate Course & Mentorship Program that helps people achieve passive income through property investing using DATA, WITHOUT wasting months doing "research", spending weekends at inspections OR dropping $10-20k on Buyers Agents each time.    Resources:          Watch FREE Trainings On Our Website  👉 https://consultingbypk.com.au/         Get Suburb Tips & FREE STRATEGIES In Our Private Facebook Community With Over 50,000 Clients & Investors  👉  https://www.facebook.com/groups/passiveincomethroughproperty Watch No Nonsense Property Market Insights On Our YouTube Channel  👉https://www.youtube.com/c/AustralianPropertyMasterywithPKGupta     Disclaimer: No Legal, Financial & Taxation Advice The Listener, Reader or Viewer acknowledges and agrees that: Any information provided by us is provided as general information and for general information purposes only; We have not taken the Listener, Reader or Viewers personal and financial circumstances into account when providing information; We must not and have not provided legal, financial or taxation advice to the Listener, Reader or Viewer; The information provided must be verified by the Listener, Reader or Viewer prior to the Listener, Reader or Viewer acting or relying on the information by an independent professional advisor including a legal, financial, taxation advisor and the Listener, Reader or Viewers accountant; The information may not be suitable or applicable to the Listener, Reader or Viewer's individual circumstances; We do not hold an Australian Financial Services Licence as defined by section 9 of the Corporations Act 2001 (Cth) and we are not authorised to provide financial services to the Listener, Reader or Viewer, and we have not provided financial services to the Listener, Reader or Viewer.  See omnystudio.com/listener for privacy information.

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