In this episode of The Australian Property Podcast, Pete Wargent, property investor and author, shares his expertise on the “Buy Right Approach” and the concept of a “powerhouse portfolio” with Owen.

Questions & Topics with Pete Wargent

Ice breakers (quick answers)

• What’s the #1 one reason people lose money in property?
• Which investor (property, stocks, business, personal, professional) that has most influenced you?

Building a Powerhouse Portfolio

• We’ll get to the good stuff in a moment, but like Munger says, tell me where I’m going to die and I won’t go there. What’s the biggest mistake you’ve personally made in property?
• In Chapter 9 you talk about a Powerhouse Portfolio, you talk about removing the emotions of property invest by focusing on a few things, including: buying quality assets you never need to sell, checking prices infrequently, thinking of investments as great assets and businesses, and reading classic investment books.
• What are the key steps to building a robust property portfolio that can withstand market fluctuations and provide long-term wealth? 
• If you were to add a new property to your portfolio right now, what’s the first few things you would consider?
• In chapter 9 you talk about ‘don’t rely on timing’. Whenever I speak to property investors, the thing they always say is ‘I bought for this much, sold for this much’. Basically, they seem like oracles. And you say don’t time it? Pfft.

Financing and Debt Management

• Financing is a critical aspect of property investing. What advice do you have for securing the best financing options and managing debt effectively? What steps can the mortals take?
• How can investors leverage their existing properties to expand their portfolios? Are there common traps to avoid?

Bidding and Negotiation

• When you think back, either buying your own property or for clients, what have been the most successful bidding strategies? Can you share an example?

Handling Challenges and Setbacks

• How important are buffers, insurances, and long-term planning in mitigating risks?

Emotional, Intellectual, and Adaptability Quotients (EQ, IQ, AQ)

• On page 176, you discuss the importance of EQ, IQ, and AQ in property investing. Can you elaborate on these concepts and how they contribute to successful investing?

Future Trends and Adaptation

• I first spoke to you in 2019 in a serviced office when you were in Melbourne. Combined, we were at least 20kg lighter. And 15 of that is from me. When we met up I asked you to reconcile how digital platforms and internet wouldn’t make property investing like the stock market, with more data removing a lot of the informational advantage of investors. What trends do you now foresee emerging in the property market over, say, the next decade, and how can investors adapt to or utilise these changes to their advantage?
• How can technology and innovation play a role in future-proofing one’s property portfolio?

Advice for New and Seasoned Investors

• What advice would you give to someone just starting out in property investing?
• Where can people get the book?