The Elmer Liu Show: Recent Episodes
Elmer Liu
Elmer Liu is a Mortgage Adviser and Life Coach based in Melbourne Australia.
This podcast is devoted to helping you become the wealthiest version of yourself in the areas of Finance, Fitness, Fulfillment, Family, and Friendship.
Never thought self-isolation would bring this much fun. I have kids as guests in this episode and it's a ton of fun talking to them.
The RBA has made an announcement to cut the cash rate again. I share my quick thoughts on what it means to us.
The RBA has made an announcement to cut the cash rate again. I share my quick thoughts on what it means to us.
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In today’s episode, we are going to talk about some of the mistakes that new property investors make.
This show is brought to you by my mortgage advisory business Pentastic Finance.
We work with IT professionals to build wealth through sensible and sustainable property investing.
If you have any mortgage/property related questions, please do reach out to me. And I am more than happy to help.
In today’s episode, we are going to talk about some of the mistakes that new property investors make.
This show is brought to you by my mortgage advisory business Pentastic Finance. We help IT professionals build wealth through sensible and sustainable property investing. If you have any mortgage/property related questions, please do reach out to me. And I am more than happy to help.
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I am sharing the impact the COVID-19 has had on my life and the opportunities came out of it.
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I had a fight with a group of footy players.
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In this episode, we will continue discussing the questions (developed by Dr. John Demartini) you can ask yourself to determine your highest values, which I believe are critical to living your best or most fulfilling life possible. Question 7 - What are your innermost dominant thoughts about what you want your life to be and are they coming true? The key here is to identify what you are repeatedly and commonly thinking about regarding how you would love your life to be, what you would love to do, or what you would love to have. Make sure the answers to this question reflect your dominant thoughts that are actually and gradually coming true. Not fantasies, not dreams that you think will make you feel better. Question 8 - How do you envision your life that is gradually coming true? This is very similar to what you have been THINKING about except that now you are just visualizing it and putting your right side of the brain to work. Question 9 - What do you internally talk to yourself about most? What do you internally dialogue with yourself about most that is meaningful and that is gradually coming true or into your life? What are the three things that you internally talk to yourself about most that are manifesting? Question 10 - What do you most talk about to others in social settings? What do you most talk about in social settings? What are the three things that you externally converse with others about most? What are the three things that you keep wanting to bring your or other's conversations to that nobody has to remind you to talk about? Question 11 - Who inspires you most What inspires you or are you inspired about most? What is common to those individuals that have inspired you most? What is common to all those things, insights, experiences or events that have repeatedly inspired you? Question 12 - What are the goals that you had that are gradually coming true? You are most willing to stretch yourself and persistently act towards goals that have the most meaning to you. So, what are the three most consistent long-term goals that you have persisted working on that have stood the test of time? Question 13 - What do you love learning, reading, studying or listening about most? What topics of study inspire you the most? When you enter a bookstore, which section do you make a beeline for? Which topic of magazines do you subscribe to? Which section of the newspapers do you turn to first? Are there nonfiction TV shows or film documentaries that you seek out? If you would like to have someone help you identify your highest values, set your goals accordingly and develop an action plan to achieve those goals. I am here to help.. send me an email via elmer@elmerliu.com I am offering a 90-minute compliment coaching experience so you get a taste of what is it like to be coached and how it could help you start living your fulfilling life. That’s it for now, let’s talk again next week. Take care.
In the last episode, we talked about how important it is to identify your highest values and then set goals according to your highest values. You will love your work, love what you do and have a much more enjoyable and fulfilling life. If you don’t have your highest values identified, you will more than likely follow other people’s values. Also, I used to think the solution is to find my passion and follow my passion. Your passions are not your highest values. You develop your passion for something when whatever you are doing happen to be in alignment with your highest values. E.g. I am passionate about fitness, reading, basketball all of which being my interests and that’s because they reflect my highest values. * I love fitness because I value becoming the best version of myself. I am not competing with anyone else, I just want to be better than I was yesterday. * I love reading because I value learning and growing * I love basketball because I value leadership AND being able to help your teammates (your family, your colleagues, or even total strangers become better by setting a good example.
You see, you don’t have to chase your passion, you go and find your highest values, find things that are reflective of them, then you will be passionate about those activities/goals. There are some questions we can ask ourselves to identify our highest values and there are 13 questions you can ask yourself, I found this exercise highly helpful and I am still trying to identify my highest values. So in this episode, let’s go through the first 6 questions, and we will go through the rest next week. Question 1: What do you fill your primary personal or professional space? Look carefully and specifically at how you fill your personal or professional space. What are the three items that you fill your space with most? What three items stand out in your space? Items that are not highly important to you are tossed or placed distantly in the trash, the attic or the garage. If you walked into your home or company office space and looked carefully at your cubicle where you work, what would you see? * Do you see your computer or business materials? * Do you see business awards, certificates, books, reference materials? * Do you see trophies from sports? * Do you see design items, paintings, arts, crafts? * Do you see animals and pictures and books on your animals? * Do you see books and magazines on building wealth? * Do you see pictures of your children
Question 2: How do you spend your time when you are awake? Look carefully and accurately at how you spend your time. What are the three things that you spend your time on most? You will make time for things that are really important to you and you will run out of time for things that aren’t. We often hear people say oh.. I don’t have time for this and that… it’s actually because whatever they don’t have time for is not important to them even though they might think otherwise. You simply figure out how to do so. So look carefully at how you spend your time. Look at how you structure your 24 hour day. What do you most often do in those 16-18 hours of awake time? You will allocate your time for things that are important to you If something is not important you will keep putting it off until tomorrow. Some examples * Do you work 10 hours of the day? I used to work 14 hours a day * Do you socialize for 4 hours a day? * Do you read or study 3 hours daily? * Do you spend 3 hours a day with your children? * Do you spend hours on and love shopping? * Do you work out, do yoga and train for 2 hours a day?
How do you actually spend your time tells you what you actually value? Question 3 - How do you spend your energy most? You will run out of energy for things that aren't important. How do you spend your energy and what energizes you? What do you always find the energy for most? You manifest energy for things that are truly important to you and that inspire you. Have a look at where you feel most vital and enthused in your day to day activities. Things that are low on your values will tend to drain you and things that are high on your values list will tend to energize you. * Is it being at work? * Is it solving problems that make a difference in other people's lives? * Is it working out? * Is it socializing? * Is it cooking and entertaining for friends or loved ones? * Is it shopping? * Is it reading a great book or learning about what inspires you? * Is it leading or managing people at work or at home?
When you are doing or fulfilling something throughout the day that is truly highest on your values, something that you love and is inspired by, you will have more energy at the end of the day than when you started because you will feel you have accomplished something. So, what are the 3 actions that you love to spend your energy on and that most energize you? Question 4 - How do you spend your money most? How do you spend your money and your resources most? What are the three things that you spend your money on most? You will feel reluctant to spend money on things you perceive to be unimportant. If something means a lot to you, you will figure out a way to pay for it. You create or find the money for things that are truly valuable or highly important to you. You run out of money and don't want to spend money on things that are not important to you. You might be considered to be 'cheap' when you do not want to spend your money on things that are too low on your priority/value list. You don't want to part with your money for things that are not important to you. * Do you spend your money mostly on your home and security? * Do you spend it back into your business development? * Do you spend it on clothes and accessories for your appearance? * Do you spend in on specialized education? * Do you spend it on social activities or events? * Do you spend it on entertainment?
Question 5 - What are you organized and ordered most? Where are you ordered and organized most? Where do you have the highest degree of order and organization? You have at least a few areas of order and areas of disorder in your life. The things that are important to you, you will spend time organizing making sure everything is in order. You will tend to bring order and organization to things that are important to you and you will tend to have chaos and disorder in things that are low on your values so look at where you have the greatest degree of order and organization in your life. * Do you have an organized social calendar? * Do you have an organized workout schedule? * Do you have an organized eating or dietary regime? * Do you have an organized financial house? * Do you have an organized business agenda and management routine? * Do you have an organized cooking arrangement? * Do you have an organized children management?
Look at where you display the highest degree of order and organization in your life. Identify the three areas that stand out with the greatest degree of order and organization. Do not lie to yourself and say you don't have such order in your life. Question 6 - What are you most reliable, disciplined and focused? Where are you most reliable, disciplined and focused? What are the three things you are most reliable on? Whatever is highest on your value, you will be disciplined to do. If something is important to you, you will be dedicated to doing it. You don't and won't have to be reminded or motivated from the outside to do it. You will be inspired from within to do what is truly most important. So you look at what are the 3 things that you are most reliable, disciplined, focused on doing, where nobody has to get you up or remind you to do them. * Is it your studies? * Is it you work out routine? * Is it your social or social media interaction? * Is it your appearance? * Is your dietary or eating regime? * Is it your business management or activities? * Is it your family management and attention?
In this episode, I share what I have learned from the book "The Values Factor" by Dr. John Demartini
I talk about finding your highest values and the reasons why it is critical to determine your highest values as soon as possible.
Reason 1 - You will have clarity in life and a much better chance of living a fulfilling life.
Reason 2 - It's much easier for you to make decisions/choices; whatever choices you have to make, they just have to be in alignment with your highest values.
Reason 3 - It will help you to achieve your goals
I answer 11 questions from my wife in this episode.
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I thought I was going to hate this.
I have been and still am waking up at 4:30 AM every day for a month.
The goal is, in theory, to become more disciplined in general and validate the theory that the key to success is simply to get started before most people can bear.
Most people think a mortgage is a soul-sucking monster that keeps them handcuffed and not be able to enjoy their life the way they want. In this episode, we are going to talk about 3 hacks you could implement to turn the soul-sucking monster into your best friend.
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Most people think a mortgage is a soul-sucking monster that keeps them handcuffed and not be able to enjoy their life the way they want.
In this episode, we are going to talk about 3 hacks you could implement to turn the soul sucking monster into your money making machine.
- Hack #1 – Switch from monthly repayment to fortnightly repayment
- Hack #2 – Set up an offset account and a credit card
- Hack #3 – The age old question whether or not you should use I/O or P&I repayment for your mortgage.
Now, just a reminder that you could ask me any questions that are related to building wealth via property, whether it’s a question for mortgage, market, mindset or even fitness. Well, a healthy body is a foundation to everything.. so I consider that a big part of my life…
So if you have any questions. just head over to www.elmerliu.com.au/askelmer and fill out the short form.
I will answer your questions either in this show or respond directly..
Alright, Ladies and gentlemen, boys and girls, welcome to another episode of the Elmer Liu Show.
In this episode, we are going to discuss the question of whether you should invest in shares or property. I personally have experiences investing in both and benefited from both, I will share my thoughts on this topic.
There are pros and cons of investing in property and shares. Which one works for you depends on your situation, your risk appetite, and your overall goal.
They are both great tools to build wealth if used properly.
So we are going to look at the following attributes of investing in shares and property
- Returns (Growth and Yield)
- Ability to gear
- Tax effectiveness
- Affordability
- Liquidity
- And Personal Control
This week, I picked up a book titled ‘This is Marketing’ by Seth Godin who is a very influential figure in the world of marketing. I finished reading.. well. listening to the book twice already and I was blown away by how much useful information, strategies, and tactics discussed in this book.
I highly recommended this book to everyone whether you are running your business or an employee. Whether you like it or not, we are doing marketing and selling every day..
So why did I bring this book up?
I read a story in this book. Harvard Marketing professor Theodore Levitt once famously said that people don’t want to buy a quarter inch drill bit, they want a quarter inch hole. The lesson is that the drill bit is merely a feature, a means to an end for what people truly want is the hole that the drill bit makes, but that doesn’t go nearly far enough, no one wants a hole. what people want is the shelf that will go on the wall once they drill the hole.
Actually, what they want is how they will feel once they see how uncluttered everything is when they put their stuff on the shelf that went on the wall. They want the satisfaction that they did it themselves and or perhaps the increased status they will get when their spouse admires the work or the peace of mind that comes from knowing the bedroom isn’t a mess and it feels safe and clean.
So people don’t want to buy a quarter inch drill bit, they want to feel safe and respected.
So after reading this a number of times, I was thinking about the purpose of property investment. do people really want to have a property portfolio? the passive income, financial security, and early retirement? They all sound good and are what’s been preached to the public so everyone talks about them when it comes to property. if you ask 10 people what they want from investing in real estate.. they want those things.. lots of properties, lots of passive income and quote-unquote financial security.. or is it?
This week, I picked up a book titled 'This is Marketing' by Seth Godin who is a very influential figure in the world of marketing.
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One of the listeners asked the following question.
“My partner and I are on target to save up for a deposit in Q4 2020. We want to own a home but also think long term. If we do not find a suitable area/land/house, should we consider an investment property while renting?”
So reading this question brings back the memory.. when I was contemplating buying my first home in 2007, and honestly I didn’t have the knowledge or vision to even think long term, I was just sick of renting and felt that I had to buy a house as I was just married and felt the need for a stable home and it turned out be a good decision looking back.
Having said that, my decision-making process was very straightforward and I certainly didn’t consider any other options that would’ve been available to me. I wasn’t thinking about investing at all. Had I known what I know now, I’d have definitely considered more options and maybe my path to building wealth would’ve been slightly different, in a positive way.
So I thought this would be a good topic for the show… What should you do? when you start out, do you buy/rent or rentvesting? which means renting while investing. My thought on that is you can start investing no matter what option you choose.
If you want to ask me anything, you can submit your questions via www.elmerliu.com.au/askelmer and I will cover them in the show.
One of the listeners asked the following question.
"My partner and I are on target to save up for a deposit by Q4 2020. We want to own a home but also think long term. If we do not find a suitable area/land/house, should we consider an investment instead? "
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How I got into property investment.
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Ladies and gentlemen, boys and girls, welcome back to another episode of the Elmer Liu show dedicated to helping you become the wealthiest and the best version of yourself in every aspect of your life.
I am your host Elmer Liu, a property investment mentor and your mortgage adviser.
My passion is to help people build wealth in residential property by strategically structuring their finances so that they make their money working hard for them and eventually stop working for money.
In this show, I will share my experiences, stories, and lessons learned to show you what it takes, both financially and mentally, to build wealth in property.
In today’s episode, I want to share with you a quote that I heard this week and my thoughts on how that quote helped me achieving almost all of my goals so far.
What matters is what you do with whatever you have.
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Discuss current market conditions
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