Steve McKnight On The Future Of The Australian Property Market

Published: March 22, 2016, 2 p.m.

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\\\\/steve-mcknight-future-australian-property-market\\\\/#arve-youtube-ljgjv95vple659a0b2e76751420173062","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/lJGJv95vpLE?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nIs the Australian property market in a bubble and is due to burst and how should you be investing in today\'s market? Best selling author Steve McKnight provides us with his insights.\\n\\nHey guys, Ryan here from onproperty.com.au, helping you find positive cash flow property. Today, I have the absolute privilege of welcoming on the show Steve McKnight who is a very well-known author around property investing in Australia. He\'s written multiple books, including one that I highly recommend and have listeners and readers of mine have bought hundreds of copies of this book and that\'s\\xa00 to 130 Properties in 3.5 Years.\\n\\nIn this book, Steve talks about how he went from 0 to 130 properties with his business partner in just 3.5 years. Following that up, there\'s\\xa00\\xa0to 270 In 7 Years.\\xa0So Steve has accumulated a lot of properties over time. In fact, it was Steve McKnight\'s book that got me interested in positive cash flow property in the first place.\\n\\nI was 16 years old and about to go on a trip to Queensland, to the Great Barrier Reef. I was at the airport and I saw this book in the airport. I ran out, got some money off my dad, purchased the book and then read through that book and got extremely passionate about positive cash flow property. I\'m extremely grateful for everything that Steve has done. He, as you find out in the interview, has purchased over 800 properties in his lifetime \\u2013 in his property investing career.\\n\\nHe has a lot of knowledge and stay until the end where we talk about what anyone can do in no matter what market you\'re in to ensure that you can move forward and achieve the goals that you\'ve set for yourself. So without further ado, I welcome someone that is very important in my life that has had a massive impact on me and that is Steve McKnight.\\n\\nRyan:\\xa0Hey guys, Ryan here from On Property and I have with me the one and only Steve McKnight, author of\\xa00 to 130 Properties in 3.5 Years\\xa0and a bunch of other books.\\n\\nSteve, I wanted to ask you, off the bat, what do you think the landscape of Australia is like at the moment? Because I do receive a lot of your emails and they seem to be a lot of doom and gloom kind of vibe going on there. Do you believe that the Australian market is in a bubble and about to burst or are you more optimistic than that?\\n\\nSteve:\\xa0Wow, straight to the hard-hitting questions.\\n\\nRyan:\\xa0We don\'t have heaps of time, so I figured just get straight into it.\\n\\nSteve:\\xa0A mentor of mine once said \\u2013 a very smart guy who has been investing for 40 or 50 years \\u2013 said to me, "Steve, when the average person can\'t buy the average property, then there\'s a problem." And I think in Australia, there\'s 2 things that impact a property market. There are factors that stimulate it and there are factors that stifle it.\\n\\nWe have been on one of the biggest bull runs in terms of stimulating factors since the GST was introduced and the first home owners grant came in that anyone can really remember. For instance, we had first home owners grant, we\'ve had low interest rates, the mother of all \\u2013 the mining booms, strong Australian Dollar \\u2013 although that\'s come off the boil.\\n\\nAnd what to me is that Australians have a lot more borrowing ability. They\'ve had a lot more incentives to get into houses and they have borrowed like never before to buy like never before, and that\'s fine. That\'s where we find ourselves and that\'s great for those of us who have been in the market and made money in the market.\\n\\nBut then, we look forward and we say, "Well, going ahead,'