Secrets to an Early and Wealthy Retirement - Part 2.

Achieving this wealth, we need to look at price and quality, so diversifying our properties in price range and type. We heard this morning Kevin talk about one bed units, they're a good strategy, as well as different types of properties. Diversifying around the country. When I started in the club in 2003, every time we could buy a property it was Queensland, so we got 8 in Queensland, so we're really well diversified, got the whole coast covered, Gold Coast, Brisbane, Sunshine Coast, Cairns. Bring on the growth up here, so I hope Kevin's right with what he says about south east Queensland.

Mentioned the different stock types, the units, the townhouses, etc. These little speed bumps can be insignificant, it might be a big thing at the time but when you look at your portfolio and over time, it's just a little speed bump. Expect problems. There is a risk in any investment we do and there are going to be problems. We've heard from different people saying, we're dealing with individuals building properties so sometimes there could be a problem with a property and we need to work around that.

Body corporates can add values and at our PMC events Wendy does a fantastic presentation on body corporates. Understanding your body corporates and participating in those, helps you in your wealth creation and your journey. I won't touch too much on that because Kevin bagged them this morning, valuers. There is speed bumps with valuations and we see them everyday. There's a few going on in Melbourne at the moment, huge low valuations coming in. But we work around it, the brokers are now able to work around some of these problems with valuers.

We need to have a long term focus, it's not just short term. Troy and I, we're the complaints department. When there's members who have problems with their properties and their portfolios. "I bought a property last year and it hasn't doubled in one year." They want to know why Kevin's strategies not working. We need to make sure it's a long term process and focus. There's going to be other things that happen along that journey that will be little speed bumps but don't be put off by those.

You need to surround yourself by a team and Gar spoke about Harpel this morning, he's got a fantastic team over in WA and Garths property mentors are leading the way, so we can all learn from those guys. The team you have, sometimes you can't do much about your partner but you have to work around that.

Check -> Secrets to an Early and Wealthy Retirement - Part 3.

To read more about wealthy retirement visit Property Prosper Retire by Kevin Young (founder of Property club)