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Episode 189 | Q & A – Vic Residential Tenancy Changes and “Legoland” in a Good Location

Folks, today we’re tackling your questions around some tough topics!

Because chances are, you’ve heard about the amendments that’ve recently been passed on Victoria’s Residential Tenancies Act — laws that allow tenants to keep pets and make ‘minor’ modifications to the property, regardless of the landlord’s wishes.

So we’re going to give our take on this, as well as take a deep dive on “Legoland” and whether or not these properties are worth considering if they’re sitting in a good location. Plus a certain Donald Trump gets a mention, as does the interest rate rise we’ve seen from the big banks right here on our home turf!

And why the tough topics now?

Well folks, it’s pretty simple… we’ve sweated out our brand new book, Make Money Simple Again (Get 30% off here), and now that it’s off to the printers… we’re ready to take on some of your other challenges!

 

Before we kick it off, just a shout out that PICA’S holding a limited-seating event on Tuesday 18th September at 6pm — to discuss on the amendments to the Victorian Residential Tenancy Act…

This is an exclusive event (only 60 seats available) with Yvonne Martin and will take place at Madgwicks Lawyers, Level 6, 140 William Street, Melbourne.

Register Here: PICA – Changes to the Residential Tenancies Act

 

And yes,

WE FINALLY FINISHED OUR BOOK, Make Money Simple Again!!!

Get 30% OFF IF YOU JOIN THE WAITLIST
(AND get it before anyone else!)

CLICK HERE TO GET THE DETAILS: Make Money Simple Again

 

But back to the tricky Q & A….

 

Question — Chris on Tenancy Changes

I’m disappointed at your quick video overview regarding proposed rental tenancy changes in Victoria. I have no problem with most of the suggested changes but, how can you not be alarmed at tenants being given the right to have pets and make modifications deemed ‘minor’ – whatever that means? We are not just talking about picture hooks here! After investigating further, this may include security measures and air conditioning! Who pays for these? You flippantly dismiss the pet comment with a remark about ’tiles’. Are you serious??? What about carpets and polished floorboards taking a pounding from pets’ claws and their excrement! I will tell you from experience that any sort of steam cleaning and fumigating of carpets etc….even at the tenant’s expense is not the answer. I’ve had to on at least two occasions (where both urine and faecal matter was so prevalent) had no choice, but to change the carpets! Forget the floorboards – too damn expensive to re-sand and polish!  Please tell me that these abovementioned points are also concerns for you?

 

SpeakPipe Question – Emma on Rate Statement showing a Decline

I have a 2 bedroom, 2 bathroom, 1 car spot investment apartment in Maribyrnong. I’ve just noticed on my new rate statement that the Capital Improved Value and the Site Value have decreased. It is a long term investment, should I be worried? Or should I just enjoy the lower rates this year? Thanks!

 

SpeakPipe Question — Lucas about Trump and IO Loans

… As we know, America runs at huge deficits, and Trump’s now starting trade wars with a whole bunch of economic blocks and their interest rates are going up so it’s going to be harder for them to service their debt. Deficits are going to become bigger & in case that backfires, and causes another GFC situation, what impact will Trump have on the Australian housing market? And, also, we’ll probably have another compounding problem with tougher lending criteria and people having less opportunity to roll interest-only with banks. So I’d like to know what you think will happen to the property market if these things happen, which is the worst case scenario. Thank you.

 

Question — Nick on History of Sales

Hi, I am a casual listener of the podcast and a first time buyer looking for a place to live in Melbourne. We have found a townhouse in Thornbury, a property that ticks all the boxes for us and looks like a good price. However, the property is selling for only a fraction over that which it was purchased in 2014 and is amongst about 50 of other similar townhouses — the property next door is also for sale. It is probably the best located/nicest property we can afford that we have found in Melbourne but those seem like red flags from an investment point of view. I thought I might just ask and see if you might be able to point us in the right direction as to how much we should read into previous sale prices and also about what saturation means in the townhouse market? Thank you and keep up the rad podcasts!

 

 

Episode 177 | Get Rid of Settlement Headaches Once and For All – Chat with Lisa Dowie

No one wants their most expensive decision to be fumbled, delayed or up-in-the-air come D-day… so today, folks, we’re giving you the settlement solutions BEFORE you need them!

And it’s a little bit like taking a peek into a future that’s just around the corner.

How do we know? Well, joining us today is Lisa Dowie, Chief Customer Officer at Property Exchange Australia Ltd (PEXA), Australia’s online settlement platform. No, she didn’t arrive by a hovercraft or drop in via teleportation, BUT, yes, she’s talking about the digital future in settlements that’s here (and in use) right now and WILL take over the simple A4 paper and pen in less time than you think.

Think digital signatures. Think e-Conveyancing. Think transfer of titles in minutes, not to and froing between your conveyancer, mortgage broker, lender and everyone else involved in making that property officially yours.

In a nutshell: the online property exchange network lets us lodge documents with Lands Registries and complete financial sentiments ELECTRONICALLY. Yep: PEXA is property transactions through the wonder waves of tech territory!

So we’ve got Lisa on to tell you the latest and greatest in property — like what specifics you need to know for a smoother settlement process, why buyers and sellers need to welcome the digital shift and, let’s be honest folks, WHEN all this is seriously going to rock the boat.

 

But before we tell you what you’ll get out of today’s knowledge-packed segment … we have a huge big announcement. Yep. Huge and Big.

WE’RE DOING A LIVE PODCAST IN MELBOURNE!!!!

Free Live Podcast in Melbourne — CLICK HERE to Find out More

It’s true, folks! Our tribe of listeners who came to our Sydney Live a couple of weeks ago enjoyed hearing us ramble on about property investing SO much we thought, hey, we’ve gotta be fair to our hometown of listeners!

Our Live Podcast in Melbourne is happening on Thursday, July 5th at 6:15 pm – 9.30pm. We’ve even dedicated time on the night to have a chat with you, hear your story and give you a high five before we give you some red hot property, finance and money management tips!

BOOK NOW to Reserve Your Seat – Limited Seats Available

 

Huge Big Announcement over and out! So, back to today’s show.

 

Here’s what you’ll learn:

… or last month in May, say?

  • What date can we expect ALL transactions to be in digital form?
  • Does title theft happen?
  • What’s the benefit for the vendor?
  • What’s the benefit for the purchaser?
  • Should you ask property professionals if they use PEXA? Why?
  • What’s the app, SettleMe?
  • What’s happening to land title reservations?
  • What else is new in the tech space?

 

Episode 108 | Five Ways To Improve Affordability

Back in Episode 102, Bryce and Ben discussed if we are facing an affordability issue and when Jan Somers appeared on our show last month, she mentioned that her aunt was also concerned about housing affordability back in the 1950s. Now, with the Federal Budget just a couple of months away, this topic appears yet again, and it seems to be the favourite amongst our politicians.

This time, the debate is about improving affordability for first home buyers. Now, don’t get us wrong. The Property Couch believes in the Great Australian Dream and owning your home. But as mentioned before, your first home will not be luxurious nor will it tick all the criteria of your dream home. This is about setting the right expectation because you would get to your dream home, and you would be able to get that quarter acre house eventually. But it will not happen overnight. You need to work for it, and you need to be smart with your decisions especially when it comes to money and planning for the future. Your first home, may not be your dream home but this does not mean that your second or third home wouldn’t be.

That is why education around property and awareness on the risk of investing in property is so important. This is one of the suggestions that Bryce and Ben chat about to improve affordability in the Australian Property Market. Tune in to find out the rest.

And the other stuff mentioned in this episode are:

  • Has the Way We Look at Financial Stability Changed Since the Global Financial Crisis? – Speech by Michelle Bullock, Assistant Governor (Financial System) of RBA: Listen/Read Here
  • Core Logic’s Pain and Gain Quarterly Report : Download Here
  • Fact Sheet on Guarantor Loan : Download Here
  • Bryce’s video on the four players in the industry is part of the Property Formula video series. If you are interested to watch this, you can Register Here

 

And as always, if you like this episode (Five Ways To Improve Affordability), don’t forget to rate us on our iTunes channel and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 107 (Part 2) | Contract Reviews, Off The Plan and SMSF Purchases and more – Chat with Nicole Faid, Principal of Accord Conveyancing

We hope you enjoyed the first part of this two-part special guest week episode! In the second instalment of this episode with Nicole Faid; Bryce, Ben and Nicole all go into more detail concerning conveyancing, whilst focusing on some of the following areas:

  • Off the plan contracts: What to expect and be aware of
  • Possibility of getting your deposit back if you decide to pull out of the deal
  • Anecdotes with regards to purchasers and a vendors’ deal
  • Why is it important to get contract reviews and is it too late if the contract has already been signed?
  • A purchaser’s rights when buying a property and what the condition of the property should be like after the deal has been made
  • What is considered as an acceptable amount of compensation if there are faults to be repaired on the property?
  • The difference between joint tenants and tenants in common
  • What is spousal transfer and how it works?

 

And of course, there is so much more they talk about and in a lot more detail. With a lot more laughs, jokes and information for you all; make sure you don’t miss the second part of episode 107 and don’t forget to stay tuned for Bryce’s Life Hack and Ben’s “Did you Know…” segment.

 

If you like this podcast: “Contract Reviews, Off The Plan and SMSF Purchases and more – Chat with Nicole Faid, Principal of Accord Conveyancing”, 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 107 (Part 1) | What Is Conveyancing and How Does It Help With The Settlement Process? – Chat with Nicole Faid, Principal of Accord Conveyancing

Due to there being an excess of absolute gold in yet another special guest week episode, we’ve had to split this week’s episode into two! Today joining Bryce and Ben for this hour long episode is Nicole Faid, principal and founder of Accord Conveyancing.  With over 25 years of industry experience, and managing around 15,000 conveyancing transactions during her career so far, the insights and opinion she provides are not to be missed out on.

In this part, Bryce, Ben and Nicole discuss some of the following areas:

  • Her story and how she got into Conveyancing
  • What Conveyancing actually means and what the process is
  • How is the settlement process like and what are the paperwork and due diligence involved
  • What are the common road blocks a conveyancer or solicitor faced at settlement
  • Will there be a unified conveyancing legislation across Australia
  • Questions a client should be asking a Conveyancer
  • Different clauses that property buyers should put into their contracts
  • Some tips to ensure a smooth settlement

 

And so much more! To learn more, make sure to tune in, and remember to listen to the next part as well!

 

If you like this podcast: “What Is Conveyancing and How Does It Help With The Settlement Process? – Chat with Nicole Faid, Principal of Accord Conveyancing”, 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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