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396 | From Public Housing to a $180K Passive Income Per Year: The Power of Planning – Chat with Kim

As Australia descends into winter, what better way to celebrate the chill than by kicking off our 2022 Winter Series?!  

In this special edition series, we’ll be deep-diving into some of our listener’s personal stories, going behind the scenes to share their challenges and triumphs and exploring how they’re successfully investing in property thanks to the power of planning. 

We’ve got a very special lineup of guests, all with very different money stories but all with 1 thing in common… 

They’ve each faced and overcome life’s difficulties and “planned to become, what they planned to become”! Basically, we’re uncovering…how folks are creating long-term plans WITH short-term variations! 

To open our Winter Series, we’ve got a guest with a real “rags to riches” story – beginning as a refugee in the UK… 

 

 

“We were placed in social housing to begin with in a rough neighbourhood with high crime rates. It was not the kind of place you’d say hi to your neighbours. You’d just keep to yourself.”  

Ever since she was young, today’s guest was exposed to the importance of money.  

Relocating as a refugee from Vietnam, Kim watched her parents start from scratch, working odd jobs to save money, raising a family and eventually buying their own business.  

Did that mean she was wise when she got her first pay packet?

Definitely not!   

So how did she evolve from her splurging years to owning 2 investment properties with her partner, well on her way to achieving a $180K per year passive income?!  

This one’s a must-listen folks – Kim is articulate, funny and relatable as she recounts journeying to Australia with no job lined up, her initial wacky investing ideas and how long-term planning has helped her to find financial success. 

Thank you for sharing your story with us Kim – we’re honoured to be opening our first Winter Series with you!! 

 

 

 

 

P.S We’ve lifted the lid on Pandora’s Box folks. The details for our 2022 webinar are officially out! In just over 2 weeks, on Wednesday 6 July, we’ll be logging on at 7:30pm AEST to share the #3 biggest secrets behind any investor’s success… 

 Secret # 1 – How to Buy an Investment Property without Impacting the Family Budget
Secret # 2 – How to Retire on a $2k per week Passive Income with 5 Properties or Less
Secret # 3 – How to Model the Mindset of the World’s Best Investors!  

 Excited yet?! Spots are limited though, so register here now to save your place!  

 

 

Free Stuff Mentioned… 

 

Here’s some of the gold we cover… 

  • 0:40 – Welcome to the Winter Series folks!  
  • 2:05 – PSA: Our upcoming Webinar details AND the #3 biggest investing secrets we’ll be sharing in it!
  • 4:35 – What was Kim’s money story growing up as a refugee in the UK?  
  • 8:52 – The Splurging Saga  
  • 9:40 – Kim’s family business: How did they build wealth?  
  • 11:30 – What changed Kim’s mindset + ingrained views around debt  
  • 12:55 – What it was like growing up in a rough neighbourhood 
  • 14:17 – What sparked Kim’s interest in wealth-building?  
  • 16:50 – Rocking up to Australia: 1-year VISA & no job in place…  
  • 19:49 – “Within 8 minutes our hearts were crushed over and over again…”  
  • 22:11 – How they got their first investment property!  
  • 24:45 – Juggling job security and an investment property during COVID  
  • 26:30 – The 2nd investment property: Not what they thought?!  
  • 27:50 – The wacky ideas they had before coming to their advisor… 
  • 29:54 – How this couple found their sweet spot in debt levels  
  • 32:15 – Why having a plan on paper is so important  
  • 33:43 – What simulations did we run for them?  
  • 34:43 – How is a roadmap helping Kim & Arnie? 
  • 36:18 – What is their plan? (Wow – partially retiring at 45?!) 
  • 38:45 – Set to buy in 2030: What is the value of planning long-term?  
  • 41:15 – Kim on the biggest benefits of having a plan 
  • 43:10 – Why did they decide on a $3k weekly passive income goal? ($180K per year!!)  
  • 45:23 – Why having debt at retirement is…ok?!  
  • 48:00 – What’s internal financial transformation did Kim undergo?  
  • 49:20 – Kim’s advice to listeners… 
  • 51:40 – Our key takeaways!  

 

363 | Exodus to the Regions – Will this Trend Reverse? – Chat with Dr Nicola Powell

This data is hot off the press folks!! 🔥🔥🔥

It’s no secret that property prices have grown quite a bit lately, but recent data is showing that we’re breaking records!

Here’s a snippet from Domain’s media release just a week ago:

September Quarter 2021 House Price Report shows Australian house prices experiencing a historical rate of growth at 21.9%, the fastest annual rate of growth on record with median house prices at almost $1 million nationally.

But…what does this mean for both sellers and buyers? Is this likely to stay or are we going to see a crash in the new year? Is this growth even sustainable with our current economy?!

AND…

Will the Regional Exodus Backflip?!!

There are heaps of moving parts here and we know it can get a little overwhelming…

So we’ve outsourced and brought in an expert to help us out.

And yes, we’ve been teasing you about her for the past few weeks so bring on the drum roll please…

🥁🥁🥁

Joining us on the show today is none other than Dr Nicola Powell, Chief of Research & Economics for Domain and one of Australia’s leading property market experts!

With more than 15 years’ research experience that spans academic, government and private sector, Nicola is the leading force behind Domain’s regular data reports that keep the Australian public up to date on what’s happening in the market.

Safe to say that we’re in good hands folks.

Tune in to find out more!

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 1:57 – Mindset minute: It’s better to hang out with people _______ than you, pick out associates whose __________ is better than yours and you’ll _____________.
  • 3:09 – Meet our first-time special guest, Dr Nicola Powell!!
  • 4:00 – How did a science doctorate degree morph into a career in economics?!
  • 5:58 – How she translate hard cold data into behavioural logic and patterns
  • 8:33 – Nicola’s Money Story and what she’s telling her kids now?
  • 11:50 – How did her conservative upbringing shape her money management habits?
  • 13:38 – Where are we RIGHT NOW in our Property Cycle?
  • 14:42 – GROWING AT $1,200 A DAY?!
  • 15:00 – Is this record growth rate expected to continue?
  • 15:46 – Is there any good news from the September Quarter Housing Data?
  • 18:37 – Sydneysiders: Forever Renting or Cross the Borders
  • 20:54 – What has the pandemic accelerated for Sydneysiders?
  • 22:57 – The shift to a different property type…
  • 27:13 – How did the Most Lock-downed City still have a Record Price Growth Rate?!
  • 28:54 – Will the Regional Exodus Backflip?!
  • 30:21 – The biggest social experiment that has proven one key thing…
  • 31:15 – What’s the new buzzword of the pandemic?
  • 32:07 – A little nugget on Price Growth trend!
  • 33:40 – An Aging Population and Its Impact on Supply
  • 36:00 – Areas where they’ll be a risk of a reversal in property price…
  • 39:00 – Is APRA’s Macroprudential changes necessary to influence Demand?
  • 40:53 – When will interest rates start to rise?
  • 42:00 – Which of these two events will trigger the interest rate hike?
  • 43:45 – (HOT) Markets around Australia with still rooms for growth!!
  • 46:08 – Household size and misallocation of housing stocks in Australia…
  • 47:00 – What needs to be disrupted to improve affordability?
  • 48:41 – The Stamp Duty Debate: Lump sum or Annual Repayment?
  • 50:17 – Surprising Find from Domain’s Submission on Housing Affordability…
  • 52:00 – Residential property as an investment class to store family wealth – Yay or Nay?

And of course…

  • 56:37 – A camping trailer life hack that can potentially save your relationship! 😉
  • 59:09  – Ben’s quick update on RBA’s view on their Bond Program

 

 

Episode 358 | Too Much Risk? Australian Property & Economic Update – Chat with Nerida Conisbee

Breaking news just in on the property & economic front, folks!

There’s clearly quite a bit going on with the health crisis, soaring property market and… just announced this week… an indication that a tightening of lending might be coming sooner than we think!

Despite price growth in the current market being led primarily by owner-occupiers, the risks around rising household debt may mean that APRA and the financial regulators will step in to prevent the build-up of future risks to the broader economy…

The question is: If they’re going to pull the handbrake, What Would This Look Like and WHEN Would It Happen?

Here to unpack all this, as well as the latest Australian Property & Economic Update is our good friend Nerida Conisbee, Chief Economist at Ray White.

Now, if you’ve heard Nerida’s data-driven insights and wisdom on the show before, you might’ve noticed she’s had a little change in title from Chief Economist at the REA Group… And if you haven’t heard from her before (you’re in for a real treat!) or simply need a refresher: Nerida is a highly regarded economist, with a specific expertise in residential and commercial property. She is currently the MOST quoted property commentator in Australia, the third most quoted economist and a sought-after public speaker, writer and columnist with more than 20 years of property research experience throughout Asia Specific.

So, if you want a PRECISE update on property and economic news here in Australia (and where it’s looking to go from here), then please listen now to get the gold & stay informed.

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 00:40 – Block your ears non-AFL fans 😉
  • 03:28 – Try this word instead.
  • 05:24 – Meet Nerida…
  • 06:04 – The change & data leak
  • 07:36 – Never Before Revealed: Nerida’s Money Backstory!!
  • 10:46 – Does she carry this through with her own family?
  • 13:24 – Nerida’s property story
  • 14:33 – The current economy – What’s going on?!
  • 16:27 – What will likely unfold in the December quarter?
  • 16:57 – What picks up when we come out of lockdown?
  • 17:12 – The Big Challenge: Iron Ore Prices
  • 17:49 – Where will this show up most in the Aus economy?
  • 18:48 – What might happen if we see higher hospital rates?
  • 21:25 – Australia’s Economy­ – What might happen?
  • 22:38 – The Lack of Migration: How Problematic Is It?
  • 23:39 – The Hot Topic: INFLATION
  • 26:00 – Too Much Risk!?!
  • 26:18 – A Trillion Dollars In Debt: Australia’s Debt Hole
  • 26:47 – How are we going to pay that debt back?
  • 28:15 – Property Update!
  • 29:45 – Breaking News: Josh Frydenberg’s Announcement!
  • 30:08 – Household Debt — Where is it currently at?
  • 31:25 – What does Nerida see happening with the regulations?
  • 35:54 – How do you stop people taking on too much debt?
  • 38:30 – What’s happening with First Home Buyers?
  • 41:46 – What you need to know about immigration
  • 45:04 – The Luxury Market: How is it performing?
  • 46:34 – Listing Volumes – What’s happening now?
  • 49:00 – The Future of Commercial Property in CBDs
  • 52:14 – Unemployment Numbers: The Risk Factors
  • 55:21 – How to NOT save $250! (interesting way to look at things…)
  • 56:28 – Pain & Gain: New Data From CoreLogic

 

 

354 | The Rise of Family Office Wealth & Investing Without Emotion

Logic vs Emotion. Unspoken Property Conversations. Family Office Wealth.

What do all these things have in common?

Well, we’re unpacking them all – and more! – in today’s Q & A episode where we welcome back ol’ mate Ben from his Big Trip by answering NEW listener questions about how to invest in property as an aspiring Australian in current property market conditions!

And it begs the question: How much money do you need to invest in property?

For example: if you have been priced out of the major capital cities or are a low income earner, what are your options?  And how can you balance both the investment strategy and this very real reality?

Plus, there’s a couple of unspoken property conversations we want to tackle, and let you in on some tips on how to take the emotion out of investing… and what to consider if you are considering gifting property to your kids or helping future generations to succeed…

Tune in now for the gold!

Q’s we answer further below 👇

 

Free Stuff Mentioned

AweGuest Series:

Winter Series:

 

The Questions We Answer

Question from Aaron about The “Unyolking” of Major Cities
In regards to the unyolking of major cities, what do you think that does to inner city suburb housing prices into the future? Do you think the appeal of these suburbs could start to reduce a bit and the property values will follow or at least slow in terms of growth?

 

Question from Anonymous on Buying in Ballarat, Bendigo or Geelong
Hey guys big fan of the show. I’m 26 years old and I’m currently to invest in a property but Melbourne is getting a bit too expensive, so I was thinking in the region in Victoria so around Ballarat, Bendigo or Geelong and my friends were thinking the same thing as well. I was just wondering what you thought about that. Thanks!

 

Question from Ross on Investing on Low Income
Good day guys. Love the podcasts, love the book and, like a lot like probably a lot of people who get in contact, with you wish I found you 10 or 15 years ago. Anyway, my name is Ross I’m 42. I only work as a mechanic, so I only make $52,000 a year before tax. Me and my wife have twin girls who are 7 and my wife is a teacher but she’s not working full time at the moment just doing casual relief teaching moments and looking to get back into it full time in maybe two or three- or four-years’ time. My question is she says we should wait until she’s working full time to look into an investment property, I say let’s do it now ‘cos I’m excited and I wanna get in the market, but our household income is not very much obviously mine being 52 grand, she makes around about 20 to 30 grand just depending before tax every year, but yeah my question mainly is, is there a minimum amount of household income that we should be making before we should start an property investment portfolio. We own our rent-a-home where we owe 100 grand on our own home loan at the moment and probably will have that paid off in a couple of years .

My main question is, Do you think we should wait on such low wages until she’s making more money or can we go for it now?

 

Question from Rosie on Gifting Properties to Children
Our mother is 73 and she is a single mum who’s worked hard all her life as a sole trader to be in a position to leave a property to each of her three children. She is finishing work soon and has decided that her children need these properties now at the most difficult time of their life with young kids, however, this means that she will not have these properties to live on over the next 30 years. What advice would you give her, having no superannuation? She’s decided she wants to go on the pension, but is now realising the tax implications of gifting these properties.

 

 

 

340 | Auction Ready: How To Win In Any Market! – Chat with Veronica Morgan

Want the proven tactics and bidding tips to WIN at auction!?!

Folks, this episode will help take the STRESS out of the intimidating auction process and give you the exact strategies professional Buyers Agents use to…

  • Master the buying process
  • Outsmart real estate agents
  • Beat the competition (without overpaying)
  • Avoid auction mistakes
  • … and, ultimately, secure the property!

Here to help us unpack ALL this – plus a whole heap of other must-know property and auction tips! – is nonother than our good friend Veronica Morgan, Founder and Principal of  Good Deeds Property Buyers, co-host of The Elephant in the Room, Bryce’s co-host of Location, Location, Location Australia, and arguably one of the BEST Buyers Agents in the country.

… Together, we’re going to get you Auction Ready!

You’ll learn how to navigate auctions in a HOT property market (like a pro!) and get the epic EVERGREEN bidding tips that’ll confuse your competition so the auctioneer will drop their hammer on YOUR final “I can still sleep at night” bid.

Sound good?

Tune in now to get a complete walkthrough of the entire buying process – enjoy!

 

Free Stuff…

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Here’s What We Cover…

  • Understanding your Buyer Profile: How it affects you at auction!
  • Why do most people hate Auctions?
  • What are the benefits of Auctions for buyers?
  • How to spot the frightened buyer…
  • What do you always need to do BEFORE you purchase property?
  • What real estate agents know that you don’t!!
  • What details SHOULD you tell the agent?
  • How to work out how much the property’s worth
  • How to set your maximum bid
  • What To Do On Auction Day: Your Prep Checklist!
  • What are the 12 “Behavioural Biases” that make people irrational buyers under auction conditions?
  • Top Auction Tips For A HOT Property Market
  • 5 Powerful Bidding Tactics That Work!
  • What are 7 Types of Auction Bidders?
  • The 4 Bidding Mistakes That Cripple Property Buyers! (Ouch…)
  • The Post-Auction Process: What To Do, What Not To Do
  • The 8 Types of Real Estate Agents!
  • What are the best type of real estate agents?
  • Bidding With ODD Numbers: Why It Works And Why You Should Do It Too
  • The Quickest Way To Work Out Who Your Competition Is!
  • Wait, what… people bid against themselves!?!….
  • Vendor Bids: How can you use them to your advantage?
  • The $1 Million Dollar Bidding Mistake That You Have To Hear To Believe…

 

 

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