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Episode 082 | Q&A – Great tenants vs higher rents, Investing in property overseas, Managing leverage and more

It has been 3 weeks since our last Question and Answers episode, so it’s about time for another one! Thank you again for sending in your questions.

For today’s podcast, we will be answering these questions:

  • Question on tenants vs rents from Mark: Is it better to keep a great tenant on a lower rental, than push for a great rental return and gamble with the quality of new tenants (and subsequent vacancy in between.)
  • Question on exit strategy from Tom: Hi, I would like to hear more about exit strategies when time is not on my side. I have just turned 50, with my youngest child in yr 12 and eldest living in eastern states. My principal place of residence (PPOR) is paid off (value $1.1M) and I have 2 investment properties with a combined value of $1m. But an investment loan of $1.2m. The reason for the negative Equity is that I have been capitalising. The investment interest whilst I directed all rental income into paying off my PPOR. So now I need to know what is next. My goal is to retire or work reduced hours in and on a corporate role by age 55. I am presently in a well-paid job paying about $220k and have about $270k in super, which I am contributing up to the max.$35k pa. I can’t get my headspace around what to do next. any suggestions would be appreciated.
  • Question on investing in property overseas from Sean: Would be great to hear your thoughts about investing in property overseas as part of a portfolio, particularly NZ. There’s some “wave rider” type activity gaining momentum around Auckland, which has become a heated market it seems.
  • Question on career in property investing:Hi Ben & Bryce, Firstly I would like to say you guys are doing an awesome job with the podcast. Have been listening from the start and as a born and bread Victorian now living in NSW I love the footy talk!!!!I would also like to congratulate you on your book “The Armchair Guide to Property Investing“. I will be handing it out to numerous friends and family as I believe it is gold when starting out and not knowing which direction to go.So some background on my situation. I started educating myself 2 years ago with every property podcasts/book I could find and now believe I have the foundations for property investing going forward with the right team around me (coach, broker, accountant, solicitor & acquisitions team).We moved to the Hunter Valley to set ourselves up to give us more “choices” in the future. I am currently on a high income of $140k as a coal miner but to be honest, my heart isn’t in it anymore and I don’t enjoy my work (except the pay each fortnight).The reason for reaching out to you guys is because we currently have a 3 year plan (possibly shorter) to move back to the Geelong area to be closer to our family and also closer to Melbourne because we live and breathe AFL. By then we plan to have 2-3 good capital growth properties in our portfolio in major cities utilising the high income (currently in process of acquiring property in Brisbane as I write this email).By the end of 2016 my goal is to complete a Diploma of Finance and Mortgage Broking Management because I believe that everything revolves around finance in creating wealth through property. I am also working towards 1-2 weeks work experience with my property acquisitions team to see how everything operates on the ground.

    My question to you guys is what else would you recommend I do over the next few years in preparation to help transition into the property investing line of work (educating others to create wealth or something down that path).

     

  • Question on paying down debt or invest from Ian: Good afternoon gents, thank you for sharing your wisdom. I’m 40/67 episodes so far and still loving the insight. A question for your podcast: Getting rid of debt 1st vs investing 1st: As a health practitioner with approximately 5K of discretionary income/month would you recommend chipping away at approximately $35K of bad debt mixed between high and low interest accounts and then seeking professional aid such as yours to become a 1st time rentvestor or seek out assistance and attempt to send that bad debit into some sort of mortgage? Love your work and your banter.
  • Question on Property Investment Advisor or Buyers Agent first from Paul: Hey Guys, Love the podcasts and your book. Great help for us newbs. I have just started my journey into the world of property investing. After listening to you guys plus reading your book I have taken my first step and started meeting with mortgage brokers to get an understanding of where I stand financially. One of the brokers I meet with was from your team at Empower Wealth. He was great and very professional. My question to you guys is once I have my finances ready to go do I need to be looking to meet with a property adviser or a buyers agent next? Your advice on this would be great. Keep up the great work!

 

If you like this Q&A episode (Good tenants vs higher rents, Investing in property overseas, Managing leverage and more), 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 031 (Part 2) | Checklist to Getting A Great Property Manager – Chat with Carolyn Wright

In this second part of Episode 31 with Carolyn Wright from Your Property Manager, we look at one of our listeners’ question on managing rental through the property manager, what to expect and how to deal with queries for maintenance.

As mentioned in Part 1, getting a good or bad property manager can make a big impact on your wealth position but what are the characteristics of a good property manager? Our hosts  and Carolyn list out some of the key roles that a property manager should be doing and what kind of expectations investor should have when finding one. The first tip on this part is setting up the right rental rates. Property managers are in the market all the time, meeting both investors and tenants and having access to tools that provide those data. A good property manager will know what rate to list your property at that would make sure you get a fair market value and minimise your vacancy rate. Listen to this podcast to find out the rest of the checklist.

 

Free resources mentioned in this podcast:

 

If you like this podcast: “Checklist to Getting A Great Property Manager – Chat with Carolyn Wright”, don’t forget to rate us at 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 031 (Part 1) | Story of an Investor and Lessons Learnt along the Way – Chat with Carolyn Wright

This week on the Property Couch, we’ve invited Carolyn Wright from Your Property Manager to talk about her own personal experience as a property investor. Bryce and Ben will also be sharing the lessons that most property investors learn along the way, particularly during the post purchase process.

Episode 031 (Part 1) | Story of an Investor and Lessons Learnt along the Way - Chat with Carolyn WrightGetting a property portfolio plan and buying an investment property is only half of the whole journey. At the end of the day, if tenants aren’t moving in, then you could potentially be facing a fair amount of out-of-pocket expenses. That is why having a property manager and understanding the process that they go through is important. Unfortunately, a lot of investors feel otherwise. Start listening to this podcast to find out what our hosts and Carolyn have gone through both as property investors themselves and in their professional role.

 

>> Episode 031 (Part 2) | – Checklist to Getting A Great Property Manager

 

If you like this podcast: “Story of an Investor and Investing Lessons Learnt along the Way – Chat with Carolyn Wright”, don’t forget to rate us at 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/

Money Magazine: Earn $55k a year in rental income

The Property Couch Money magazineEarn 55k in rental incomeThe highly anticipated Money Magazine cover story is here! Thanks to all you who have expressed their interests to download this article. As mentioned in previous podcasts, Bryce and the team at Empower Wealth are thrilled to contribute to this article. As the title “Earn $55k a year in rental income” suggested, this article explains how you can retire on a passive income from a well-designed property portfolio. There are three scenarios mentioned in this article:

  • Early 30s, single, renting and doesn’t own any properties
  • Early 40s couple with two young children and their own home
  • Late 40s, divorcee with a working teenager and her own home

 

Click on the image to download now. Once you’ve read it, let us know what you think or if you have any questions!

Episode 022 | Q&A – Building & Pest Inspection, Rentvesting and Next Wage Growth Hotspot

Its Questions and Answers time! Thanks for all the suggestions on new topics to cover in this podcast. For today’s episode, Bryce Holdaway and Ben Kingsley will be addressing questions from:

  • Building and Pest Inspection question from Mark : How do I find a good quality building and pest inspector and with the property market being so hot with auctions at the moment, how do I ensure I don’t burn through my deposit money when constantly missing out at auctions?  I could end up wasting thousands on inspections until I actually win at auction! Should I try doing it myself and find a friend or family member with some building knowledge or use one of the smartphone apps?
  • Rentvesting question from Ryan : What are your thoughts on the property investor him or herself to buy and live in their own PPR or to rent? Obviously both have advantages, a place to call home or the ability to keep investing with out loosing potential borrowing capacity.
  • Next Wage Growth Hotspot from David : As mentioned on previous podcasts, investors will want to avoid “glass ceilings” in terms of capped wage growth in certain areas.  Given the changing Australian economy (more knowledge-based), are there particular areas of Australia in which you expect to see wage growth occurring?

 

If you would like to access The Property Couch’s media kit, please email us here: info@thepropertycouch.com.au.

 

Resources mentioned in this podcast:

 

If you like this Q&A episode, don’t forget to rate us at 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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