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b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/learnings-interview-steve-mcknight\\\\/#arve-youtube-lfl7uanahfi659a0b2e74656140774325","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/LFL7uANAHFI?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nRecently I interviewed Steve McKnight and I wanted to share some of the things I learned from that interview.\\n\\nA couple of days ago, I had probably what was one of the most important interviews I\'ve ever done for On Property and that was my interview with Steve McKnight. This is the guy who got me interested in positive cash flow property in the first place. Without him, I would never have started Cash Flow Investor, which became On Property. So I was really excited to interview Steve McKnight.\\n\\nHe didn\'t have a lot of time, so it was a very short interview. But it was great to pick his brain to understand the angle he\'s coming at things from and to learn a bit from him. I\'ve been mulling over the things that we talked about for the last couple of days. Today, I wanted to share with you my learnings from the interview that I did with Steve McKnight.\\n\\nThe biggest learning that I took away from that was the way that Steve talked about the potential that the market has to move. So he talked about a bell curve and \\u2013 let me just draw a bell curve on this piece of paper for those of you who are watching the video. But basically, you\'ve got your bell curve here and everything under the line are, let\'s put that as, most likely to happen. That\'s your 100% of chance of things happening.\\n\\nSomething under that line is going to happen and then what Steve talked about is in the middle here is the things most likely to happen. So the very center is the market just remaining stagnant or the market slightly increases or the market slightly decreases. On the sides, on the end, under the bell curve are these your extremes. So this is the market absolutely plummets or the market absolutely grows exponentially and goes absolutely crazy.\\n\\nIt was really interesting because a lot of the emails I\'ve been getting from Steve McKnight have talked about the doom and gloom of the Australian market and he did talk a bit about how he feels like there\'s not a lot stimulating the housing market in Australia. But in saying that, he did talk about this and talk about how the biggest chance you\'re going to have is that one of these 3 things \\u2013 the market\'s going to remain stagnant, it\'s going to steadily increase or it\'s going to steadily decrease, but only slightly, not extreme.\\n\\nI think the game that he\'s playing, whereas a lot of other people are playing a different game, is he\'s looking at that and saying, "Okay, what\'s the most likely scenarios that\'s going to happen?" but also, "How can I protect myself against catastrophic loss?" I think a lot of people don\'t consider the chance of the way the market is going to move.\\n\\nFor example, a lot of people who missed the boom of Sydney and say, "Well, I don\'t want to invest now because I believe that prices might fall." But they don\'t think of this graph and say, "Okay, what are the chances that prices might fall?" Because there\'s a chance for everything, right? So people just assume the price is definitely going to fall, but that might actually be on one extreme side of this bell curve and the chance for that might actually be pretty small. But people lock themselves into this idea that the market is going to move this way so I\'m not going to invest.\\n\\nI just love that approach that Steve took that said, "Look, here\'s the chances of things happening in the market, but I\'m going to invest in a way that I can basically make money in any particular market." For the majority of people who invest in property and they only make money in one way \\u2013 through capital growth.'