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246 | Real Estate 101: Everything from Buying Your First Home to Beginner Investor Tips

By in Podcast, Q&A

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Attention! First-time investors, first home buyers and property investors needing a refresher!

This episode is your official “How To Guide” — including everything you need to know about buying property… AND investing in it! We answer your questions, we tell you exactly what you need to know to avoid the mistakes from the get go, what investment makes for a good investment AND how to get onto the property ladder quicker and without the hassle!

This is Episode #1 of TWO EPISODES that cover the types of property investor demographics out there… our beginner folks all the way to our astute listeners who already have a property portfolio to their name. And guess what? Today is ALL about our “first time-ers”… first time investors… first home buyers…. and those who wish they’d had access to this info when they FIRST started!

We’re also throwing in Free Report for EACH of the profile including a transcript, commonly asked questions, links mentioned in each of the section and Additional Bonuses to help you in your journey. So between these two episodes, make sure you pick up the Demographic Booklet that’s designed for you!!

 

Today’s Freebies…

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So… Today’s Questions are…

For First Home Buyers:

 

For First Time Investors:

 

Today’s Links…

If you’re not keen to download the booklets, no worries! Here are the list of resources that were mentioned today:

 

 

 

 

 

 

244 | Borrowing Power in 2019: Everything You Need To Know

By in Podcast

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APRA has recently made changes that affect a lender’s borrowing power — what does this mean for property investors and home owners… and their interest rate?

Well, folks… we’re deep diving on this today (and getting a little bit technical), because in July 2019, the Australian Prudential Regulation Authority (APRA) came out with their revisions to the “buffer” and “floor rates” of their Prudential Practice Guide APG 223.

And why are we telling you this? In a nutshell: this results in a change, potentially an increase, in a lender’s borrowing power… which means YOU can potentially borrow more money!!! (Not sure why this is a good thing? Listen to this episode on the basics of borrowing power first).

Now, if you’re wondering what on earth we mean by “buffer, “floor rates” and “potentially”… take it easy… we’ve totally got you covered here — we explain all this, incl. examples of a single person AND a couple, so you can get a “real life” angle on all this. Plus, Ben’s obviously in his element so he drops a lot of new gold and mortgage broking insights!

Oh, and did we mention that we’ve also sneaked in a little Finance Q&A as well?? Yep, true story. You can find the exact questions a little further down in these show notes 🙂

 

Free Resources

 

Key Learning Points

  • Debrief: How do APRA’s changes affect borrowing power?
  • Why is Ben describing lending in 2020 with the world throttle?
  • What is the variance in borrowing power of Principle and Interest vs. Interest Only Home Loans now? What does that mean for an investor?
  • Quickstart History Guide on Lending
  • What has happened to the Floor Rate?
  • What is each of the “big four” bank’s NEW floor rate?
  • What is a Sensitivity Margin?
  • How did poor regulation contribute to the Global Financial Crisis?
  • What’s a gig economy?
  • How much is the Commonwealth Bank of Australia (CBA) now spending per year to rectify and enforce new changes following the Royal Commission?
  • Example: A Single Person’s Borrowing Power
  • Example: A Couple’s Borrowing Power

 

The Questions

Question from Bella

We just bought a house and are setting up our loan. Should we get our wages put directly into our offset account and then pull money into our everyday account for expenses and keep a minimum amount in there, say $2,000? My husband wants to do it the opposite way. And just pay our offset with leftovers after expenses. What should we do?! HELP! 

 

Question from Todd

Hi Ben and Bryce, Love your podcast! Have learnt so much since I found it 6 months ago. My question is loan structure related, with tighter lending these days is it an optimal strategy to split my PPOR Loan into 3 or more splits so I can pay them off quicker and then re-borrow once payed off to invest? Or is it better to build up a large sum in my offset account? Thanks in advance guys and go Eagles Stig!

 

Question from James

With the RBA’s drop in interest rates to 1%, I (like most people) are considering refinancing away from my current mortgage provider. We have been looking into a few options, but keep hitting a hurdle due to being on one wage and having 2 properties (our owner occupied and one investment) as I am currently on a non-permanent workers compensation payment through DVA, the banks will not recognise my wage as a salary.
So, my question is, with APRA’s change and loosening the reigns on lending, has this already came into effect? If not, when is this due to be implemented by the banks? Thank you

Question from Stuart

Hi Bryce and Ben, long time listener, first-time caller from NZ. Love listening to all your podcasts every week. Quick question regarding my PPR and mortgage offset. I have received a windfall, which I am wondering the best use of. I could put it all into my offset account against my mortgage and with my current offset savings this would 100% offset my mortgage and I continue to pay it down over the next 10 years. Or am I better off paying down a large portion off it immediately leaving the balance fully offset to pay off over just a few years. I guess it’s a matter of keeping the offset bucket full against the mortgage, or paying down the mortgage ASAP. I also have 1 investment property, which I’ll need to reorganise to start offsetting ASAP. Hope that makes sense, thanks.

 

And here’s the table that Ben promised on the show! 😉

 

 

223 | Q&A – How to Overcome your Fear/Uncertainty in Taking The Next Step

By in Podcast, Q&A

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Folks, feeling a bit scared to take that necessary “leap of faith” on the property market?

If you do, it’s not your fault. In fact… it’s actually pretty normal!!

So, we’ve taken a leaf out of last week’s episode where we answered some of your questions on the BIGGEST CHALLENGES you’re having in a market downturn…and we’re going to dive in on the fear and uncertainty piece! Because a little bit of fear is normal… but if it gets in the way of you and your future, it becomes a BIG, BIG problem.

To help you out, today we’ve got SIX Lessons for you (straight off the bat) as well as a whole bunch of listener concerns we’re going to unpack so you know the best way forward to make the leap, stay the course, handle the Government changes, hold down the fort, invest in a market downturn and much, much more!

 

Before we give you the specifics, just a quick shout out that we have an Encore Webinar happening TOMORROW, Friday 15th @ 2PM, 12th March 2019!!

CLICK HERE to Register – How to Build a Property Portfolio in a Market Downturn and Retire on $2K Per Week

 

Also, ONLY ONE WEEK LEFT to Get 20% DISCOUNT on SELL or HOLD

Use this discount code: TPC20

 

Today’s Lecture Notes…

222 | Q&A – The Biggest Challenges You Face in a Market Downturn

By in Podcast, Q&A

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“What’s your BIGGEST Challenge when it comes to building a portfolio in the Current Market?”

… Folks, this is the question we threw out on Facebook and to our tribe of listeners who receive our emails… and we received a FLOOD of answers back!

So it seems a few of you are facing a pickle or two as we speak (Or were simply keen to grab a copy of our book for free — that’s what we promised if we would read your challenge out, right?)  Well, to help you out, today we’re going to unpack quite a few of these and, with a bit of luck, dish out the gold into how to SOLVE some of these problems…. because pickles are meant for the pickle jar 😉 #dadjoke

No surprises on the stand outs — GETTING FINANCE APPROVED and FEAR are the main culprits here folks! So we’re going to tackle these, but, of course, we’ve also done what we do best & thrown a few hairballs in the mix for good measure.

Before we pick the lock on the ol’ treasure chest, just a wee bit of gold for you right away…

 

We’ve got an exclusive LIVE Masterclass coming your way THIS Wednesday!

Details: How to Build a Property Portfolio in a Market Downturn and Retire on $2K Per Week without having to renovate, re-develop or sacrifice your weekends!

CLICK HERE to Register Now

Just a heads up… this exclusive training will definitely help the folks who are facing challenges right now, or are simply keen to succeed in property investing no matter what the market’s doing. Unfortunately, we WON’T be making this available on our website (the content’s too “hot”), so register to get further details.

 

Quick, did you know… Bryce is… 1. On Escape From The City tonight (ABC TV @ 8PM and ABC iview) and, huge news, 2. Escape From The City is UP FOR A LOGIE AWARD!!! Vote for the show here on the Most Popular Lifestyle Program (voting ends Sunday 31st of March).

 

TODAY’S RESOURCES MENTIONED…

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And THE CHALLENGES…

 

 

[Free Report] How to Get A Loan after the Bank Rejects You?

By in Free Resources

As promised on Episode 222, The Biggest Challenges You Face in a Market Downturn, here’s the Article we wrote on YIP Magazine, How to Get A Loan after the Bank Rejects You?!
Just fill in the form below and we’ll send it to your email right away!

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WHAT TO EXPECT?

  • The 5C’s of how the Banks assess you
  • Three BIG Reasons why banks say no
  • What you can do when your loan is rejected
  • Money TIPS for Accumulating your Income and Sorting your Expenses

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