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399 | “I Just Wanted to Keep the Party Going!”: From Overcoming Addiction to a 4 Investment Property Plan – Chat with Alex

By in Podcast, Summer Series, Winter Series

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“It was almost considered rude in our family to be talking about how money is generated and how much of it is generated, and where it goes. We were sort of told to mind our own business…” 

Folks, we’re finishing our 2022 Winter Series on a high with a guest with an amazing tale that shows the undeniable power of changing your mindset to change your life… 

 

Today’s special guest – Alex – grew up in a household where discussing money was actually considered….rude :O. And this seed grew into a tree of bad money habits and sadly, fed into his alcoholism.  

Expecting to “rent forever” and living cheaply so he could splurge on the weekends, Alex wasn’t thinking about the future, or family, at all… 

So how has he completely transformed from this state, full of years of traumatic money lessons and spendthrift behaviours, into his new life rich with self-funded travel experiences, financial freedom AND a positive mindset towards money?!

(We will say he had a “knight in shining armour” by the name of Sabrina who helped steer him in the right direction 😉)  

And did we mention he had also gone 474 days without a drop when we spoke to him?! Amazing stuff. 

Folks this story is so mind-blowingly raw and honest that we just want to give both Alex (and his Mum AND all his pillars of support) a gigantic hug through the soundwaves. 

Tune in now to learn how planning has allowed Alex to not only change his entire financial story but has helped him to beat his addiction.  So.much.gold!!!!! 👏👏👏 

 

 

P.S And folks, make sure you stay tuned for next week’s episode ‘cos it’s a HUGE milestone for us….Yep. It’s our 400th episode!!!!! And you can be sure we’ve got a super-fantastic-hyper-awesome guest in store for you – watch this space!!! 

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:40 – All great things must end…🙁  
  • 2:45 – Meet Alex!  
  • 3:21 – Money Conversations in Alex’s house were considered…rude?!?! 
  • 5:21 – How 2 different upbringings created 2 VERY different money habits…. 
  • 6:38 – His parent’s divorce 🙁
  • 8:02 – His Teenage Years (aka. Putting money where he DEFINITELY shouldn’t have)  
  • 10:18 – So..what changed his ways?  
  • 12:20 – Alex’s Battle with Alcoholism 
  • 13:55 – How did a lack of Money Conversations affect Alex??  
  • 17:06 – His Mum’s Financial Story as a Superhero Single Mother  
  • 18:16 – “I just wanted to keep the party going…”  
  • 20:00 – The 2 mentors that changed his views on wealth-building… 
  • 22:52 – The events that switched “ON” Alex’s aspirations! 
  • 26:23 – What Drove Them to Seek Professional Advice  
  • 28:28 – So how did his brother’s financial story turn out??  
  • 31:24 – How having plans has helped Alex turn it all around
  • 34:31 – How this family is balancing love of travel, experiences AND wealth-building!! 
  • 37:02 – The Process of Creating the Plan (Did they get that Beach House?!)  
  • 41:49 – Folks, this is why starting TODAY is key!  
  • 44:36 – Why James Simon is actually better at investing than Warren Buffet?!?! 
  • 46:13 – Did Alex and Sabrina enjoy the planning process? 
  • 49:30 – Alex’s Advice to Listeners: “It’s all about M_ _d_e_ at the end of the day…” 
  • 51:21 – What could potentially derail this couple?! 
  • 53:51 – What does their Property Wealth Plan look like? 
  • 57:38 – What would Alex’s mum say?  
  • 59:33 – Public statements do THIS… 
  • 1:01:46 – Ben & Bryce’s Top Takeaways (You can ALWAYS change your money habits folks!) 
  • 1:07:05 – Why couples need an Independent Voice of Reason!!  
  • 1:08:15 – Eager to change your money situation? Listen to this for some of our best-selling resources — for FREE!  
  • 1:09:28 – Folks, get independent advice! (Why not try us out for size? Book in your FREE no-obligation consultation here 😊)  
  • 1:11:39 – We also want to share with you our evergreen CPA lecture on “How to Plan to Build a Passive Income For Life with Property Investment” – watch it here now! 
  • 1:14:30 – We’re hitting a HUGE milestone next week...(Be sure to tune in next week for one of our BEST episodes yet…)  

 

395 | Darius Boyd: How this NRL Star Found his Financial and Mental Peace

By in Podcast, Real life stories

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While we love to have some good AFL banter on the show, this week’s episode is all about a star from another Aussie sport… 🏉

We’re jumping into the world of NRL (National Rugby League) with one of its most prominent athletes who played fullback, wing, centre and five-eighth for the Brisbane Broncos. 

Representing Australia at an international level and playing in the Queensland State of Origin…

We’re extremely chuffed to welcome Darius Boyd to the couch!  

He captained the Brisbane Broncos from 2017 to 2019 and has an illustrious 15-year career as a professional athlete having won 2 NRL Grand Finals. 

But folks…as much as we wanted to get lost in sport, this episode peels back the sheets to before Darius was a big sports star… 

Back to when “even getting $2 to catch the bus home wasn’t easy…” and he was being raised by his mum and then grandma at 15 years old. 

It’s a truly powerful tale as we follow Darius as he jumps from growing up with a tight budget to earning more money than he knew how to handle at just 18.  

We discuss the timeless wisdom he gained being coached by one of sports greatest mentors – Wayne Bennett – the drive that pushed him to become one of NRLs best players and the 5 Simple Steps to find positivity and mental peace.  

Tune in now folks, this one’s an inspiring tale!  

 

 

P.S Next week we’re kicking off our Winter Series! While our Summer series is all about transformation, our winter series will be all about planning!  

We’ve got a brilliant program in store for you with some heart-warming and inspiring tales from our listeners — we can’t wait to share them with you!   

 

P.P.S As Bryce hinted in the episode, we’ve got something else very exciting coming up. Now we don’t want to give too much away just yet, but we will say one word…W E B I N A R!!  

Interested?? Keep your eyes and ears peeled folks, we’ll be releasing the details very soon…. 😉  

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 2:11 – Folks, we’ve got 2 VERY exciting things in store for y’all… 
  • 3:12 – How do you know when it’s enough? 
  • 8:11 – Meet Professional NRL Star Darius Boyd!  
  • 9:42 – His Money Backstory: “Even getting $2 to catch the bus home wasn’t easy…” 
  • 13:50 – The lessons he learnt from living with Grandma  
  • 15:24 – Darius’ first lesson in wealth building  
  • 17:45 – Wisdom he picked up from ultimate sports coach Wayne Bennett 
  • 19:40 – THIS is what makes a good coach… 
  • 20:29 – The drivers that pushed him to become one of the best NRL players  
  • 21:55 – The best players weren’t always the best…
  • 23:58 – Advice he’d give to others looking back on his career
  • 27:38 – Folks, it’s okay to spend on experiences!  
  • 28:00 – Darius’ first property 
  • 28:52 – The road to becoming Renovators  
  • 31:32 – How does Darius & Kayla select their Assets and Location?  
  • 33:00 – What role does property play in his future?  
  • 34:33 – What was it like transitioning away from being a Professional Athlete??  
  • 37:28 – His 5 simple steps for positive mental health!  
  • 40:22 – Working with Top Blokes Foundation and normalising mental health discussions amongst young men  

And… 

  • 43:40 – Let’s Recap  
  • 46:24 – Need to set 100 reminders? You can with your Apple Watch!  
  • 48:35 – One of Ben’s MOST important interest rate updates  
  • 53:10 – This is actually an opportunity for…. 
  • 54:23 – Check out RBA Gov. Phillip Lowe’s 7.30 Interview here  

 

393 | The Top 3 Influences on Investing Success – Chat with Scott Phillips

By in Podcast

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Have you ever wondered what the BIGGEST influences are on an investor’s success?! 

Is it passion, personality, time, experience, learnt market timing or even luck?! Or are you just born with a “business brain”?!  

Well folks, our very special guest today can actually narrow an investor’s success down to just 3 things!!  

And if you’ve got that covered, well according to him…you’re basically going for gold!  

This awesome guest – Scott Phillips – is the Chief Investment Officer at the Motley Fool Australia (Tune in to 10:08 for a fun story on how he landed his first position there!) and runs the Motley Fool Share Advisor and Everlasting Income services. He is also a fellow podcast hoster, co-presenting one of Australia’s top business podcasts: the Motley Fool Podcast!!  

Today he’s dispelling so much timeless wisdom from how to tell if a business is “Investment-grade” to his golden rules for investing. 

He and Ben will also discuss the differences, pros and cons when investing in shares and property, and we’ll be peeling back the layers of his money story! 

So if you’re ready to learn the ultimate, simple wisdom that leads to investing success, press play now! 

 

 

 

p.s Make sure to tune into “What’s Making Property News” too. The NSW Greens Party are introducing some seriously radical changes to its Tenancy laws that will have negative effects on Rent Control, Evictions and Termination of Rental Agreements. This has the potential to implode the Residential Property market, hurting its tenants more and forcing more people to rely on Government assistance. 

If you own an investment property in NSW – we strongly urge you to contact your local member of parliament to express your concerns about the unintended consequence of this change.  

 To find your local member click here.  

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:42 – Ben’s joined the COVID Club 😮  
  • 3:55 – Check out PICA’s Webinar on Securing Finance in a Changing Economic Environment!  
  • 5:00 – “Success is a lousy teacher…”  
  • 6:47 – Meet Scott Phillips!  
  • 8:17 – The origins of the “Fool”   
  • 10:08 – How a Facebook article led Scott to become a Motley Fool! 
  • 13:35 – Scott’s backstory: From tobacco tin budgeting to the best advice for a high school student  
  • 17:26 – Why he won the “Ovarian Lottery” 
  • 20:11 – His firsthand experience with Spruikers… 
  • 23:04 – The first 2 investing mistakes Scott made (& the silver lining in it!)  
  • 25:11 – His journey to becoming an investing guru!  
  • 26:38 – Scott’s easy yet GOLDEN rules for investing  
  • 32:17 – It all boils down to B___ M____ and T____!  
  • 34:23 – How to get your kids in the market  
  • 35:55 – Shares & Property: Let’s compare the Numbers and Risks!  
  • 41:09 – The TOP 3 things that’ll maximise your investment returns  
  • 43:25 – A sneak peek into Scott’s property portfolio 
  • 46:07 – The Pros and Cons of Shares and Property 
  • 47:53 – The 5 reasons a business is “Investment-grade” 
  • 55:22 – The Best Advice for an Investor: Investing is about B___ not about… 
  • 57:27 – Why Scott KEPT investing in shares through COVID-19  
  • 1:03:45 – Is Crypto worth investing in?  

And… 

 

392 | “Don’t land the plane during a storm”: Should you change investment plans?! – Q&A

By in Podcast, Q&A

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We repeat! Do NOT land the plane during a storm!! 

What do we mean by this…?  

Well, in our minds, changing your investment plan due to changing circumstances is kinda like planning a flight and lifting off the runway…

And then hitting stormy weather.

Should you try and land the plan in the middle of the storm?!? 

You’ll have to tune in to the episode to find out what we think!! Since it’s a Q&A of course we’re flying this plane over looooads more ground like… 

Advice for a 16-year-old property investor?! (It’s fantastic to hear folks are having money conversations around the dinner table!)   

Residential vs commercial capital gains tax: where do they differ and how can you make more gains without being taxed like crazy!  

Putting property in a trust…or your name?! And what do Ben and Bryce do with their property portfolio?  

Plus Ben and Bryce share their top 5 favourite books (well Bryce sneaks in a 6th one 😉) and why they reckon you should give it a go too!!  

Read Ben and Bryce’s book list and the full list of questions below! 👇 

So if you’re ready, strap in cos we’ve got something for everyone in this episode!!  

 

Questions we Answer

Bee on Buying in a Trust or Your Own Name 

Hi Guys, it’s Bee here. We have family trust set up and (weaved?)a few of our investment property in them. We’ve recently gone to a buyers agent and they have mentioned that if it was them, they would forget about the family trust and bond in their own names to take advantage of the land tax threshold. Just wondering could please explain this further. 

 

Anthony on What advice would you give your daughter? 

Good day boys, Anthony from Adelaide here. 

Well done on the show, you’re doing a cracking job it’s really impressive. I’ve been a longtime listener first time caller. I went back and listened to episodes 1 to 20 as you suggest it’s pretty well captures all the errors of my property investing. Wrong areas, Spruikers, oh dear anyway I guess investing is nonlinear I’m pretty sure next time I’ll invest with you blokes. 

My question is, we are family who loves property investing, we talk about it all the time, we have our principal place of residence, we own that out right, we have three investment properties working on our 4th and my daughter would like to get into property, she’s 16 1/2, she’s at school, she got a part time job, she saved up about 12 grand so far, so in about a year she’ll have 20 grand. 

My question is, what would you suggest she buys? And what kind of structure would work? So i guess really, if it was your daughter what advice would you give her? 

Thanks boys 

 

Mark Seaton on CGT on Commercial same as CGT on residential
 

Hi Guys! Mark is my name and I live in the Southwest Town Country (WA?) 

I’ve been listening to your podcast for a couple of years. I haven’t got a everything in place although I do have a PPR and 2 rental properties. One rental property is a fixer upper at the moment which I bought at the start of COVID.

My wife and I have a business and we’ve just purchased a commercial property. I am not sure if this is in your wheelhouse or not but listening to your podcast for the last year, you’ve had people talk about tax and capital gains on residential properties.  Is Capital Gains when you fit out a commercial property, the same?

Do you have to keep all of these records and when you sell you property is the fit out cost come off or is that totally separate due to the fact that it’s a business as opposed to a building?

Just like your thoughts on that if it’s even in your wheelhouse. Anyways, thanks guys! 

 

Patrick on Circumstances when you would change your plan 

Hi Bryce and Ben. 

It’s Patrick here from the Sunshine Coast. I’ve a question around sticking to your plan vs. changing your plan. 

Essentially I would like to know what are some special events that might cause you  to change your investment plan or are you always better off sticking to the plan for the long term? 

For example, there might be a wide range of things like the property doesn’t grow as much as you would have thought or the yield is lower or there’s damage to the property or the holding cost increased significantly? 

I would just love to hear you guys have some discussions around navigating that choice to either stick to your plan or change your plan when things don’t work out the way you would like. Thanks! 

 

Sophie on Updated Books we Recommend 

Hi Ben & Bryce, Sophie here, loyal listener.

I listened to your podcast previously when you mentioned about books that you recommend.We’ve got some holidays coming up and I was hoping that you could give me a bit of arefresher as to what some of the books are that you recommend.Either property wise or maybe some other (shilady shibumshee?) you’ve been reading recently.Thanks very much love the Podcast. Bye bye.

 

Bryce and Ben’s UPDATED Top 5-ish Book Lists:

Bryce’s List:  

Ben’s List:  

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:38 – An Election & a Footy Match: Two big results in one weekend?! (Ben’s very happy with one of them 😉)  
  • 1:28 – If you’re a new listener or a seasoned listener, listen to this! 
  • 5:44 – Warren Buffett’s wealth was actually built from… 
  • 11:05 – Some advice for those thinking of investing now  
  • 13:30 – A shoutout to the ladies (We want to hear from YOU!)  
  • 14:12 – Q1 – Buying in a Trust or Your Own Name (The Pros!)  
  • 18:42 – The Cons! 
  • 20:00 – Let’s Clarify; we do not have Property in our… 
  • 24:47 – Q2 – What advice would you give your daughter? 
  • 26:50 – A couple of options… 
  • 29:35 – The types + structures we recommend!  
  • 34:15 – Q3 – CGT on Commercial same as CGT on residential?  
  • 37:42 – Breaking it down with an equivalent scenario  
  • 39:48 – CGT on Commercial: What’s different?  
  • 43:58 – Q4 – Circumstances when you would change your plan 
  • 45:00 – When you SHOULDN’T change plans (Doing these will halt your wealth…)  
  • 46:58 – Plans should include S___ testing!  
  • 47:42 – Should you land the plane during the strorm?!  
  • 48:57 – Your first strategy should be… 
  • 50:20 – We don’t usually do this but folks if you need help, check us out! 
  • 54:50 – Q5 – Books we’d recommend!  
  • 55:40 – Bryce’s top 5 booklist (*he may sneak an extra one in later 😉)  
  • 1:00:38 – Ben’s favourite 5 books (+ one lecture series)  

And… 

 

388 | Why do people sell off-market properties?! – Q&A

By in Podcast, Q&A

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Folks we have received one of the greatest compliments bestowed upon us in this episode… 

We have been called… 

THE NETFLIX FOR PROPERTY INVESTORS! 

And folks that has absolutely made our day! Thank you, Andrew!!  

But we’re guessing if you’re here, you haven’t just come to hear us celebrate our new title. 😉 

You’ve probably been like us and Jordy – who asked the question – and wondered “Why do people sell off-market properties??” 

And we’re so excited to dive into this because honestly, we think the answer is going to surprise you!  

We’ve also got a fantastic line-up of questions for this week’s Q&A episode, like… 

  • How do you actually put the big rocks in the jar first?! In this case, our question-asker Clancy is having to choose between buying an investment property or home first… 
  • Is it possible to have a multi-purpose investment that actually works??
  • How can question-asker Demi allay her family’s concerns over her investing in her third property within a year?

Listen in now folks, we’re streaming tons of audio gold (Since – you know – we’re the Netflix of property investors 😉)  

 

Free Stuff Mentioned… 

 

Questions We Answer…

Jordy on Why People Sell Off Market Properties  

“Hey Bryce and Ben, 

How you guys going? 

Just had a question around off market opportunities. You hear that there are so many off market opportunities out there that they actually make up nearly more than listed properties. 

I’m just wondering why there would be so many real estate agents who are working on the seller’s behalf wouldn’t want to take it to market to get as much competition and try and get the best price.  

Obviously, there’s times when someone might want a quick sale, but outside of that it just seems kind of just goes against logic, so if you guys could have a discussion about that. Thank you.”  

 

Clancy on Putting the Big Rocks in the Jar  

“Hey property couch guys, 

Long-time listener here. I’ve got a question for you around putting the big rocks in the jar and just having a better understanding of what that means. 

Our current position is me and my partner own a unit on the Northern beaches in Sydney approximately worth 1.4 something, with around 400 and something in equity in that property. 

Over the next sort of five years, we want to move into a house. It’s also in the northern beaches and we also want to start our investment journey in terms of buying investment property. Question is what should we do first? 

Should we have our next goal be behind the house or the next goal be behind the investment property? Everyone in the family says we’d be crazy to buy an investment property first. 

It kind of makes sense to me that that would be the next option. I’d really appreciate your guy’s insight and maybe help me understand what putting the big rocks in the jar means I know that’s an important concept, but I’m just not quite there conceptually, thanks.” 

 

Andrew Kringas on Lifestyle Property purchases 

G’day Ben and Bryce.  

Big shout out to you guys and the podcast. I kind of refer to this as the Netflix for property investors. 

Like a lot of your listeners, I got into you a couple of months ago and have not been able to stop going through all the episodes. Obviously starting up from the beginning and then ended up coming to some of your newer ones.  

My question is really in relation to lifestyle property that you referred to and there has been obviously a really big surge in the past two years of people buying properties in regional, Victorian coastal areas, and looking at using it as a holiday destination for themselves, but also seeing how they can make some substantial rents during peak holiday periods and also use the opportunity to let family use it. 

 Just wondering what your take is on this and with the pending interest rate rises, is it something that you guys look at or do you steer away from it? Similar to high rise apartments. Would be really happy to hear your thoughts, thanks. 

 

Demi on Advice to family after 4 properties 

“Hey Bryce and Benji.  

My question is around family, so my family been watching me. We’re about to purchase our third property in a year, so we have 4 all up. I’m only 25 and my family will get very nervous about it. I have buffers. I have everything. What would you say to them to make them not stress out? 

Thank you.”  

  

Here’s some of the gold we cover… 

  • 2:05 – Focus more on the H___ than the G___! Let us know what yours are… 
  • 4:34 – Question 1: Why People Sell Off Market Properties  
  • 9:00 – Remember folks, just because it’s off-market doesn’t mean… 
  • 11:05 – Real Estate Agents are influenced by E____ too! 
  • 12:24 – Don’t fall for the THIS myth 
  • 16:12 – Question 2: How to put the big rocks in the jar first 
  • 17:48 – It’s a relatively easy decision if you take out… 
  • 19:35 – What we would recommend! 
  • 23:52 – Question 3: Lifestyle Property purchases (Netflix for property investors?! We are HONOURED mate!)  
  • 25:20 – Can you have a multi-purpose investment? (and Ben’s predictions for the regional exodus trend!)  
  • 28:23 – Will the Lifestyle Property Purchase trend continue? 
  • 33:36 – Question 4: Allaying family concerns over investing 
  • 35:24 – Why you should test your buffers…  
  • 38:18 – “Be a student of history!”  
  • 42:10 – Folks, remember there is no “right” way to invest… 

And… 

 

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