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Property's falling fast. So why in the world would I be trying to educate

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people to get into a bubble? It doesn't make sense. I much prefer to educate people

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to get something they can bootstrap when they're younger and build freedom. Because at the end

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of the day, wealth's about freedom of your time, especially the younger generation.

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You know how many kids aren't going to be able to buy a house because of the greed in this country

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with property? It's disgusting. Politicians should be limited to one

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house because if they're not, they've got six. They're going to put policy in place to pump up

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the price because they're greedy pieces of shit. People that own lots of property, they

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just seem to be under absolute financial stress all the time. and they seem

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to have no freedom. And so for me, it was kind of compromising my own personal desires

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to have a freedom driven life. But I just never gravitated towards

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property because of the success. If you're stuck in old money habits, overwhelmed

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by investing or unsure where to start, this is for you. I'll

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give you the mindset and strategies to take control, grow

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your wealth and achieve financial freedom. It's time to make

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your money work for you. Why I don't own

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property as a millionaire. What a hot topic

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this will be. The fighting in the comments

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should be extreme. Why I don't own property as a millionaire. I

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wanted to do this episode because a minute, there's a couple of ads floating around we've done

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talking about our book here, Money Buys Happiness. In the book, I talk about

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other wealth building strategies besides property. A

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lot of people grab the book and want to look at other avenues besides

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owning a house. The reason why I've kind of created this anti-property

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rebellion is because I actually didn't build my wealth

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through property. It's really interesting. I'll explain

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just a little bit of my background so you understand where I'm coming from here. You got to understand, I'm

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from the Gold Coast which is like the epicenter of property in the world. My

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dad has had a property business for 35 years, marketing

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property. So there's people that buy property and build wealth

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and there's people that have businesses in property. I'm a business guy, I'm

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not a buy property, build wealth guy, just so you know. But my background

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is, listen to this, lawyer, qualified lawyer, specializing

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in property law, got my full

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real estate license that I still have that's actively still fully licensed agent,

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a full license, and have had that since I was 20. So

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what's that? I've had that for 11 years. 21 years

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I've had that and I was in commercial sales and leasing for Ray White.

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I then went into property law, then I went into real estate development in

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the Middle East. So my whole background up to the age of about 28 and

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then I went into running a property business which is marketing properties

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with my dad and kind of rebuilt this family business. So

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all the way until the age of say 31, my whole background is property. Just

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so you know, it's not like I don't know

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what I'm talking about when it comes to property. It's just that I

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personally made a choice to invest in liquid assets and

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small businesses before owning property.

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I looked at all the people that own lots of property and they just seem to be

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under absolute financial stress all the time and they seem to

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have no freedom. For me, it was kind of compromising my own personal

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desires to have a freedom-driven life. When

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I was the age of 30, I started marketing supplements online. And

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that's what allowed us to scale a business to step out of our job. So it wasn't property

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that did it. In fact, even if I go back to when I was

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working in the property industry, I was actually taking the

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money that I was making from a wage, doing certain things, and I was buying shares. And

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so I was taking the money I was making. I was not buying property, I was buying shares. I

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was offered properties to buy. I could get pretty good deals. I was

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getting put and call option deals, but I just never gravitated

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towards property because it just never felt like a freedom asset to me. It

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felt like it was taking money from me, not giving me money. So I thought, what if

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I get into shares? One, they're liquid. Two, they produce income. And in Australia, they

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can produce, depending on what you buy and when you buy it. your

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tax rate, they can produce tax-free income. I actually started to

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buy shares from the very outset, probably

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15 years ago. The reason I wanted that is because I wanted to build up a portfolio that

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produced passive income. I started in online marketing using

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the power of social media back in 2014 because

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I wanted to develop a side hustle outside my job to fund the portfolio. I

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also wanted to get out of my job and be free. Property didn't do

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that because I had to get tons of leverage. Property

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was going to force me to get a big mortgage, force me to be at the

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mercy of the banks, and it wasn't going to produce any income for me for

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a long period of time because all of it for 20 or 30 years is used to pay off the debt. I

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wanted to have free cash flow earlier. I just decided against

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property from the very outset. I had every chance to be in it. My dad says

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it's a miracle I've never owned any. And I think it is too, because I've said

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no to that whole, like, I'm not one to just buy into a doctrine and

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go along with the crowd. So what's interesting, and the reason I'm telling you this is because I

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have a free life. I just literally, I'm not joking, tomorrow I'm going to Thailand for

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a month. And the only reason we're coming back is because we have a small puppy here.

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But I don't have to be here. And so

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I look at all my friends that went into the property game, they have to be everywhere. They

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cannot leave. I decided to take

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my capital and put it into small businesses that will leverage the

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power of the internet to build freedom and put into shares that produce passive

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income straight away. I built that to live this life.

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It was an actual decision. As

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you can imagine, I was almost seduced into property many

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times. In fact, I had an expression of interest on a

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real estate transaction only about two and a half years ago. I was just

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seduced by a couple of – it was like a family thing. I was like, yes,

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sounds good. It was an emotional thing that almost got me. I was like, what the hell

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are you doing? And I stopped and then I moved the money back out and bought a

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laundromat. Check this out. The amount of money I put into the laundromat deal

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was like one, I guess you could say it was the same amount

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as the deposit for the property. However, the property would have produced no income,

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it would have taken income from me, it would have been negatively geared and

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it would have produced a 3% yield. The laundromat produces a 40% yield

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and it's paid off in three years. It's just so many

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better deals out there than an apartment for two million. And

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again, I'm not completely against property. I just don't like

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it and I hate to see it when people buy property because one,

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they don't understand anything else. Two, they buy into a really inflated market

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and it completely destroys them financially in the sense of they've got to

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take three jobs just to pay the mortgage. And they lose all their freedom. They

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lose their relationships. It just completely destroys the financial dynamics

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at home because you're under stress from your mortgage. And I just don't want to see it. So I'm like,

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hey, there's other ways besides property to be building wealth, just so

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you know. And I've done that. I'm proof that you can do it.

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And so, a lot of my friends who are successful too, they got successful building businesses,

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not becoming property moguls. Yes, there are people that have done it, I get it. But

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for me, it was just about freedom early. And I don't know anyone that's

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bought a ton of property that's completely free because all the income from the property

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is paying them off over time. Again, they're not coming to Thailand for

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a month with me tomorrow. They're stuck in their jobs. Just quickly, if you're

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ready to take control of your finances but feel stuck on where to start, I

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have a solution. My book, Money Buys Happiness, simplifies

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investing and wealth building with practical steps to help you achieve financial

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peace. Get your copy via the link in the show notes and let's get your

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money working for you. Now back to the episode. And I just think

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about the capital that I had that I could have put as a deposit for

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a house into our home. We live in a nice place on the water. We've

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been renting there for 11 years, and I think about the amount

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of body corporate fees we would have paid. I think about the equity that I

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would have put into it, but I took the equity and built four businesses

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out of it, and that's the difference. Then I also scaled the

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wealth and put that into shares. It's not like people often think, oh,

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Lord, if you don't own property, what do you – I was like, well, we own a multimillion dollar share portfolio

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that does 14% returns each. where there's

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other things besides property, you know, like there's other asset classes,

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and people are so hell-bent on Bitcoin and stuff. I'm like, what? Like,

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it's one alternative, but it doesn't produce

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any cash flow. So how can it produce freedom? I was just always about freedom from

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the start. So businesses that produce cash flow and investments

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that produce cash flow just made more

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sense to me 15 years ago than ones that don't. That's

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all. And now I'm a living example of why I chose

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that, because I like to have geofreedom. And a lot of my friends who

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are living all overseas, they all have geofreedom too. I just felt

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that the capital was better spent on small businesses that can scale and produce

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cash flow than to have a property that I lived in that wasn't going to produce anything

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for me. And I see this a lot with people that live in the house that they've purchased.

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They've put a large deposit in there, which is their cash. They have no

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emergency buffer. They're borrowed $1.5 million. There's

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no deductions on it tax-wise if it's their PPI, their principal place

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of residence. And they're all struggling, sending their kids to

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daycare, and they struggle street, commuting every single day just to pay

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off a house. It just doesn't occur to me that that's

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a life well lived. That's all. It's not that it doesn't work. There's

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a lot of people that build wealth out of property. It's just that wealth

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is not just the amount that your house is worth that you sell when you're

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65. There's more to life than that. I find wealth

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in the freedom. That's where I find wealth. I find money buying

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me happiness not slavery. It's just a

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philosophical difference that I have. So I want to share the

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philosophical difference with other people. I want them to be hopeful, especially

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the younger generation. Do you have any kids? I'm going to be able to buy a house because of

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the greed in this country with properties. It's disgusting. Politicians

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should be limited to one house because if they're not, they've got six. They're

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going to put policy in place to pump up the price because they're greedy pieces of shit.

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I'm thinking to myself, how do you provide hope and another

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way for younger people to build wealth that's not property? your

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kids going to – and by the way, if you're guaranteeing your kids on your property, congratulations,

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well done, awesome. It's nice you're doing that for them. But what about the kids that don't

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have you as a parent? How are they supposed to build wealth? Have you

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ever thought about them? Like I think of my niece and nephew. So I think of people, young

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kids that they're going to build, come up in a country that can't own their

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house. Like they want to build wealth, how are they going to do it? That's

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the message I'm giving. I want to show them another way. They can

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start small businesses. They can start online businesses. They can invest in shares. You

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can invest in shares as a kid when you're with some cool apps like Raise

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and Acorns and wherever you are in the world and you can actually help them invest when

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they're kids and they can get good habits. They can't do that with property when they're in

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their teens. How? They're not going to be able to do it.

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Without a doubt, property has worked for sure, and it will continue

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to work for the right people, but there's also a contingent out there, I'd say 50% of

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the population, that can't do it. What about them? How are

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we going to help them? I'm concentrated on helping them. That's why I

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decided to start the Anti-Property Rebellion. because I'm one of the few people at my age that's

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got a multi-million dollar net worth that hasn't owned one. Frankly, I'm bloody rare. So

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I wanted to be able to inspire that generation to actually build

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wealth other ways. And if you're watching this and you're inspired, good, I

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want to inspire you too. There's just other ways, right? And

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by all accounts, if property went through a massive correction over 50% and it's

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happened before, don't even, you look at history in the past, it's happened.

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It's happened right now in the United States. Property's falling fast. Now

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I'm not suggesting it's gonna happen in Sydney or you're flipping freaks about Sydney property market.

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You put something about Sydney and they're like, nah, and they throw rocks. Look, it

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may be that Australia goes through a correction. It might be that it

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makes a lot of sense for people to buy properties when they're cheaper and

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they're producing income that actually pays for themselves. It might be

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you can buy a cash cow property. I have looked at properties that produce 10% yield.

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I remember selling houses during the GFC. There was opportunities, right?

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But they're just not present now. And if you look at that

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market, it doesn't scream, buy me. So why in

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the world would I be trying to educate people to get into a bubble? It

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doesn't make sense. I much prefer to educate people to get something they can

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bootstrap when they're younger and build freedom. Because at the end of the day, wealth's

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about freedom of your time, becoming time rich, than

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it is to just accumulate property and build wealth. You know how many people I've spoken to

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who've got, I'm just talking to a lady, she's got $6 million worth

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of property, $3 million worth of debt, her net worth's $3 million, and she's

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looking for a side house to make ends meet. And she's mentally cooked

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because she's mentally in this social status game of like, I've got to buy more properties,

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like a flippin' idiot. I said, you know, if you divested them, put your money over

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here and did this, you could actually be free and just travel the world. She's like, what? This is what's

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happening. People are so flippin' focused over here with this property game. They've

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forgotten what the whole objective is. is to buy yourself happiness!

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Enjoy and live a flippin' fruitful life! Not accumulate goddamn

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bricks and mortar! Get over yourself! Like, there's other ways! Anyway,

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that's why I've done those ads, because I want to start a rebellion that's just different. Because

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we have to teach people how to build wealth differently than just land, because it's getting ridiculous.

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So, I hope you've made, you've got value from this. I hope you see why

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I'm trying to carve this new thing out. I'm trying to inspire others to do something

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different. So, if you've enjoyed this and you feel the same way, leave

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me a comment in the comments below. Do you agree with this? Do you disagree? Do you think I'm

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a flippant psychopath? Pop in the comments. I'll come and fight you in there. I don't care. I'm

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all about this. So leave a comment. If you want to start a fight, start

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a fight. I'll come and comment there with you and we'll have a nice discussion. And if

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you support me, put it there anyway. I appreciate the support on the channel. Go hit the

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subscribe button. Share this with someone who needs to hear this. There's more

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to life than owning houses. See you in the next episode. Thanks for

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listening to Money Grows on Trees. If you enjoyed the episode, leave a five-star

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review on Apple Podcasts and Spotify and subscribe to

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us on YouTube so you never miss an episode. And if you're serious about building

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wealth, make sure to check out the links in the show notes and follow me on

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all social media platforms, at LloydJamesRoss for