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Episode 122 | Q&A – A Transitioning Market, Money, Habits, Tax Deductions and What It’s Really Costing You

It’s that time again … a few questions from you and a few answers from the boys!

Oh, before we give you a tiny tease about today’s podcast … just a huge shout out for being SO supportive about our technical glitch last week. Our inbox was flooded with all of your emails and concerns—please know that our hearts’ burst (with love) and we missed you all too! We really did. But we’re back and better than ever this week. (With an epic guest next Thursday we’ve got The Stig running the server like a pro.)

Right … to today’s Q&A! It’s the time of a transitioning market. So things are starting to balance out in the property scene. The boys will fill you in on the nitty gritty; but, guess what? This is an empowering time for buyers!

Think Question. Think Answer. Think Golf. Blame Bryce for his legendary metaphors.

 

  • Question on debt reduction from Allen:

I am trying to get into a better money management system and have just a few questions.
I currently have 1 personal loan of $22,000 and 2 credit cards both roughly $5000 each. In your previous podcasts about credit card management and The Money SMARTS System you suggest paying off whichever debt charges the most interest first. Well, the personal loan charges more than the credit cards in the long run and has more to pay off although the credit cards are of smaller amount but it is still high, which would you recommend paying off first?

  • Question on how to work out a property’s true value from Laura:

When monitoring an existing Investment Property’s capital growth, and trying to do this in an objective, non-biases and reliable method, can you please compare and contrast—get the advice—just relying on a real estate agents sales appraisal vs. a proper bank valuation?

My wife and I bought a house (PPOR) in Croydon Vic 2.5 years ago, which has since appreciated by nearly 20%. We are looking at buying our first investment property this year, around mid-year. We had a child last year, my wife will be going back to work part time mid-year and is currently on maternity & LSL. My salary will be about $100k more than hers.

Will it make sense to get the investment loan out in my name so that the losses can be claimed against my greater income? For some reason she is apprehensive about this idea, which I’m not sure why because we are married anyway and the titles can still be put in both our names even though the finance is in my name. Is this worth considering this or should everything just be in both our names, joint loans the like?

 

And here are the Free Resources mentioned in today’s podcast:

 

If you like this Q&A episode (A Transitioning Market, Money, Habits, Tax Deductions and What It’s Really Costing You), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://thepropertycouch.com.au/topics/

Episode 121 (Part 2) | Does The Guy With The Most Money Always Win At Auction? – Chat with Damien Cooley

Part two with Damien Cooley, Australia’s most respected auctioneers and the face of Cooley Auctions, On top of his Australian record—see part 1— he has an uncountable number of industry trophies tucked under that orange tie—winning the 2015 & 2013 Auctioneer of the Year at the Real Estate Business Awards for example—and has performed auctions on other reality TV series, including The Renovators, Under The Hammer, Hot Auctions and Selling Houses Australia.

Oh, and you might have heard this in Part One that just two years ago, Cooley Auctions delivered up to 6000 auctions in the same year. So Damien definitely knows his stuff.

What are you waiting for? Get the insider’s guide to:

  • Which avoidable mistakes buyers make
  • How to win at auction, just by observing the mood of buyers
  • Which bidding tactics work and which ones absolutely don’t
  • What the Five Second Rule is
  • What a Flexible Buyers Strategy looks like
  • How the auction process differs between Victoria and NSW

and

  • Is there a shift in buyers’ sentiment in Sydney’s property market?

 

If you like this podcast: “Does The Guy With The Most Money Always Win At Auction? – Chat with Damien Cooley”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 121 (Part 1) | Does The Guy With The Most Money Always Win At Auction? – Chat with Damien Cooley

We’re pretty chuffed to announce that Damien Cooley, one of Australia’s most respected auctioneers and the face of Cooley Auctions, has landed a spot on the couch! For those not in the know: Damien holds the Australian record for the highest sale of a single dwelling home sold at auction—no easy feat at $23 Million—and is the most booked auctioneer on The Block, having appeared on the show nine times.

In fact, we were SO chuffed to have Damien on the couch that Bryce and Ben just didn’t want him to leave. There are golden auction tips pouring out like a long string of confetti in this one guys! (Damien was almost late to the set of The Block, he was so pumped to give you all his insight!)

So here is Part One, people.

Unpacking his property prowess with us, Damien reveals the importance of keeping lists, debunk some auction myths and explains why he’s more than just “The Guy in the Orange Tie on The Block”.

Together, he and the boys will cover:

  • How jotting your dreams on paper will write tomorrow’s reality
  • How he left high school to become one of the best auctioneers in the country
  • How Damien managed to score that impressive $23 million auction record (Hint: it has something to do with $50,000)
  • How to work out if an external auctioneer is right for you

This one’s a big one guys! The take home (out of the many):

If you go to work on your plan, your plan will work for you.

 

Disclaimer: But this is in Part 1 only … just wait until you hit PART 2 (!)

 

If you like this podcast: “Does The Guy With The Most Money Always Win At Auction? – Chat with Damien Cooley”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 120 | Secret To Making Money While You Sleep – Chat with Tom Panos

We’ve finally got Tom Panos on the show! For those who’s unfamiliar with Tom, he’s the founder of the Real Estate Gym, 5am Club, co-host of the Million Dollar Agent podcast, a weekly commentator on SKY News Business, Channel 602, Real Estate Advertising Director for News Corp and is one of Sydney’s leading Real Estate Auctioneers as well as being a sought-after keynote for the Real Estate industry. On top of that, he’s also an active property investor and has been investing for the past 25 years.

So what will the three of them be chatting about today? Here are some bullet points!

  • How will having a regime in your daily life help you
  • What are Tom’s drives to success and how they’ve changed over time
  • Why playing the long game matters in property investing
  • How did Tom start his portfolio and tips for investors who are looking to do the same
  • Formula for a successful renovation project
  • Tom’s response to those who are concerned with the media’s property boom and bust stories
  • His mentors in life and relationship with Jon McGrath
  • Top 3 tips for buyers looking to bid at auction

 

If you like this podcast: “Secret To Making Money While You Sleep – Chat with Tom Panos”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 119 | The Power of Compounding

Smart Money Management. Savings. Leverage. Compounding interest.

That is basically what we are talking about in today’s podcast as inspired by two of our listeners who wrote in. Now, rewind a few episodes, and you’ll find the boys quoting Albert Einstein famous words, “Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t… pays it.” And today’s focus is all about getting the foundation RIGHT, finding the SWEET spot for your money management habits and understanding WHAT delayed gratification is all about.

One of the questions that we asked the listeners today is,

Would you take a million today or take a cent now and double the amount every day for the next 30 days?

Tune in to find out the numbers behind this question and here are the Free Resources mentioned in today’s podcast:

 

Just in case you’re wondering, here’s what the two listeners wrote in:

 

  • From Chris:

Hey guys. Love the podcast. I’ve told so many people about you guys. Out their flying the flag. One day I’ll probably knock on your door for a job. Seriously.

I find that one of the biggest advantages/disadvantages to building wealth can of be determined as to whether you are or aren’t on the same page as your partner when it comes to finance and household spending. I meet so many people in life who are either money savvy (to some degree) or they just aren’t. I love that we all have different passions in life, it makes the world go round, but wouldn’t it make life, relationships and wealth building easier if we all LOVED the concept of making our money work harder for us. We were all money SMART 🙂 *Thanks rubbish Australian education curriculum!

So my challenge is to you. Not an easy one. Do one podcast that in the most effective mainstream fashion, gives those that aren’t ‘interested’ yet, just a taste of how they MUST be money smart. Because…it is not actually that hard, how it can impact their lives so dramatically and how they should take a bigger interest in how to make their money work for them now if they want options of living a wonderful life. A life of experiences. Inspire them. One podcast I can make my loved ones listen to, to try flick that switch in them to take more control of their finances with joy. Like when I read Rich Dad Poor Dad. I know how amazing compound interest is, I know how amazing leverage is, but so many people just don’t. Therefore they don’t know why they should be delaying gratification. So they simply choose to spend.

In a time that is crazy busy for you guys building a business and living your own family lives, well done on giving so much back to society. You will never know how great an impact you have had on generations to come.

 

  • From Greg:

Hi Guys

I just watched the first video you’ve done with realestate.com.au. Congratulations on the partnership and great work as usual.

Just one comment on the first video. The savings/investment glass got filled with what was left over. This goes against many of the gurus (The Richest Man in Babylon, Robert Kiyosaki etc) who all say “pay yourself first”. So, in the video, the savings/investment glass should have its share first (whatever amount the person has decided) and then the other glasses divide up what’s left over.

Keep up the great work.

 

If you like this episode (The Power of Compounding), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 118 | Create Wealth Through Your Assets, Not Your Pay Packet – Chat with Craig Stephens, Managing Director of Jas Stephens

Today’s podcast title is a direct quote from our special guest, Craig Stephens! As the Managing Director of Jas Stephens, with a history spanning over 90 years and four generations and the leading real estate agency in Melbourne’s Inner West, Craig is also an active investor himself who started building his portfolio back in the late 1980s. He started off as a bond trader and worked with Merrill Lynch in London before coming back to Melbourne to take over the family’s business. With his experience, both in the financial and property market, the three of them discuss about:

  • What are the critical elements in a successful business and how similar they are with property portfolios
  • Who motivated him to buy his first property and his investment strategy ever since
  • The market trend for the past 20 years in Melbourne’s inner west
  • What is the Rule of 72 and does property doubles every ten years
  • Who should be on your panel of experts and why only meeting your accountant at tax times isn’t good enough
  • Understanding the risk in buying a property
  • Tips for buyers when dealing with real estate agents and when to get in touch

 

Resources mentioned in today’s podcast:

  • REA Video | Having trouble saving? Time to forecast your finances >> Watch here
  • Recommended Book | Think and Grow Rich by Napolean Hill >> Learn more
  • Bryce’s Life Hack | How I organise Evernote by Michael Hyatt >> Read here
  • CoreLogic | Quarterly Housing & Economic Review – April 2017 Release >> Download here
  • CoreLogic | May Home Value Index >> Read here

 

If you like this podcast: “Create Wealth Through Your Assets, Not Your Pay Packet – Chat with Craig Stephens, Managing Director of Jas Stephens”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

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