Tips Archives - Page 8 of 18 - The Property Couch

191 | Seven Steps to Make Money Simple Again

By The Property Couch September 27, 2018 in Podcast

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Spoiler Alert: we’re practically giving away our new book, folks!

Because today we’re revealing the 7 Steps of managing your money… the exact steps that we reveal in our brand new book (coming out next week), Make Money Simple Again!

And why would we give away the gold hidden in a book that’s not even hit the shelf yet?

Simple. We want every Australian to be a smarter money manager — and with sky-rocketing credit-card debt levels in the country, we don’t think this is currently happening.

So if you want to be a better money manager, or if you want your money to work harder for you, or if you’ve found yourself in a debt cycle you’re struggling to get out of, then today’s episode is exactly what you need!

Want a copy of our brand new book?

CLICK HERE to order one – Make Money Simple Again!

Before we jump straight in, we also give you the latest news from Property Investors Council of Australia (PICA) — specifically how the recent meeting about the Victorian Residential Tenancy Changes went!
If you want to get your hands on PICA’s presentation and deck slides from the evening, join PICA for $5 and you will be eligible to get them for free!

But that’s not it… guess what else we announce in today’s show?

We’re throwing another Free Live Webinar — How to Build a Property Portfolio and retire on $2k per week without having to renovate, re-develop or sacrifice your weekends!

CLICK HERE to Secure Your Free Seat (limited seats available)

8:00PM AEDT Wednesday, 10th October 2018

Folks, it’s true — we’re holding a brand new Live Masterclass for you! You’ll learn the 3 Secrets to build a property portfolio and retire on 2K per week…

Secret #1 How to Retire on $2,000 per week as a passive investor with 5 properties or less
Secret #2 How to Grow a multi-million dollar property portfolio without sacrificing the monthly budget
Secret #3 Whoever buys the RIGHT property ensures they DON’T have to worry about negative market noise.

So again, reserve your seat before it sells out!

And lastly, if you’re an experienced Mortgage Broker or someone who’s passionate with loan strategy and loan structure, then we want to hear from you!
>> Click here to learn more about our vacancies.

TODAY’S GOLD:

What are the 7 Steps to manage your money like a pro?
Which steps go in “Ready” and “Set” and “Go?”
How can you stop the money slippage?
How is it possible that this system only 10 minutes a month?
What’s the number one fundamental principle you need to know?
Why is banking structure crucial?
How long should your “float” be?
What day should you pay yourself?
What is “discretionary” and “essential” spending?
How can groceries be both discretionary and essential?
What’s the number #1 mistake you can make with money?
What can you learn from our different case studies?
Why can “Pay Your Self First” lead you into trouble?

P.S. Looking to get a copy of our brand new book? CLICK HERE to order one – Make Money Simple Again!

190 | Q & A – Addressing Media Alarmists, Investing in Your 50s and The Truth About Lenders Mortgage Insurance…

By The Property Couch September 20, 2018 in Podcast, Q&A

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If you’ve heard the latest media reports, folks, you might have reason to believe the property market is all bricks and slaughter… but is that really the case?

Today on the Couch, we’re addressing media alarmists — the recent noise shouting out alarm that they’ll be a total housing crash in Australia! So… is there any truth to the gloom and doom?

PLUS, we’re deep-diving into investing later in life and what this really looks like for people in their fifties, including the ramifications of investing in property can have on pension allowances.

And, of course, Lenders Mortgage Insurance… let’s run the basics, and work out when too much is WAY too much!

Before we kick off the Qs… guess what??

If you want the 30% discount on our new book Make Money Simple Again you need to join our waitlist BEFORE 11:59PM TOMORROW (Friday 21^st September 2018)

Yes, this is a limited-time only discount, folks!

>> CLICK HERE to Get 30% Discount of our New Book

And before we jump into the questions, here are some recommendations from Stiggy to help you go through this episode:

Winter is here! If you’re worried about the recent media attention on the market, go back to Episode 66 (Winter is coming and the air will be colder up high) to find out what properties we think would be affected first. And of course, while you’re on the trip down memory lane, don’t miss out Ep 37 on all thing Scarcity.

Do you want the recording from on the VIC Residential Tenancies Act Amendments? PICA will be sending out the slides AND the replay to their members next week. Not a member yet? Click here to join.

(Spoiler Alert) And finally… Here’s the link to the Granny Flat that we’ve chat about on today’s show. Make sure you consult a qualified and experienced Financial Planner before making any investment decisions folks! 🙂

Alrightey, let’s get to today’s questions!

Question about Investing in Your 50s from Darren

Me and my wife made a mistake late in life. We bought a house and sold it back in 2000, so we’re not first home buyers. We’re 50, looking forward to getting on the property train and have a good income of about $180K per year. We have about 4.5K in disposable income that we can put into property. Given everything I’ve heard from you guys, how could a couple, now 50, with that available cash, make their way through to give themselves a passive income by mid-60s, earning $80 – $100K per year in passive income. We were thinking of buying a house for around $450K, perhaps on the north side of Brisbane, around Petrie and Kallangura area, and we could smash out as much as we could in a year and a half, build up some equity and buy then move onto the 2nd house with a maybe a bit of renovation between. So my question is: how do people of our age group get onto the property ladder and make this happen for ourselves?

Question from Steph the “Serial Coucher”

We’re looking at purchase a home from my father in law over a period of time. Essentially, he is an asset rich, cash poor retiree who is living fortnight-to-fortnight on the pension. Yes, it’s certainly an emotional driver, but the asset does stack up. So my question is: how does something like this work? Can you acquire traditional financing, or is it a specialty class of financing? And what specialist should we look to engage? I want to get as much info as possible before even bringing up the subject with him. Thanks guys!

Question about Lenders Mortgage Insurance from Alasdair

I’m looking to increase my portfolio from 2 Investment Properties (IP) to 3IPs, and possibly a 4th. I’m sitting at around about 90% when I get my loans. I read somewhere that around the $1million mark it gets difficult. And I’ve heard that the global portfolio is impossible to get it over $2.5 mil. Can you speak to that idea?

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

By The Property Couch September 13, 2018 in Podcast, Q&A

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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 18^th 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.

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!

The Property Couch’s Top Tips for entering the Property Market on a Budget!

By The Property Couch August 30, 2018 in Free Resources

We’ve appeared on the Today Show once again and this time, we chat about the Top Tips for Entering the Property on a Budget!

Hope you enjoy this segment! If you’d like to learn more about investing in property and building a property portfolio, here are some helpful episodes! >>

And there are heaps of other free resources on our website. We update them every week so make sure you check them out before you go. 🙂

Any questions or suggestions for new topics? Just send them in to [email protected] or fill in the form below and we’ll chat about it at our future Q&A episodes.

186 | Q & A – Should You Pay Down the Principle Loan When Interest Rates are Low? Are Multiple Offset Accounts a Good Idea? PLUS The Step-by-Step Process to Buy an Investment Property!

By The Property Couch August 23, 2018 in Podcast, Q&A

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“The people’s podcast” is EXACTLY that today folks! Because here’s the deal… it’s full-on, gold-packed Q & A Day!!

And we’re diving headfirst into…

Offset accounts —is it a good idea to have multiple offset accounts? And should you offset your highest loan or the oldest loan?
Investing in outer suburbs versus inner suburbs
The step-by-step process of buying an investment property
Buying a home (PPOR) versus an investment property (IP)
Lending — should you pay down the principle of an investment property when interest rates are low?
Why should you join PICA?
TWO amazing LifeHacks from our community!

Oh folks, we don’t want to pick favourites — but even we’ll admit it — these are some solid questions from our listeners!

From start (Mindset Minute) to “Knowledge is empowering, but only if you act on it”… this episode is ALL YOURS!

Before we jump into the questions, click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns or fill in the form below and we’ll send it to your email right away.

Questions from Kyrillos:

If you’re purchasing more than 1 property, can you get more than one offset account? And if so do you split all the cash between them, or is it wiser to pour in all the cash in the offset against a larger loan?
To do with LocationScore — I’ve gone through and created a Spreadsheet of all of the suburbs within 50km of Brisbane’s CBD and found that most of the better-scored suburbs are actually quite far, in terms of the asset selection criteria you guys talk about. I understand that LocationScore is more of a demand versus supply score, so if you’re a Buy and Hold investor, at a suburb level, is buying in a better location still the better option?
Would you be able to run through the process of buying a property? Could you run through a quick, step by step process of what happens when (research, when should you get building and pest inspection etc)?

Note 1: Looking for the link to join the Property Investors Council of Australia (PICA)? Learn more about their membership here!

Note 2: Keen to watch Ben’s Data Dive on Better Price Point, Better Location and Better Returns on Investment? Just click here or fill in the form below to get access to it.

Question from Cam:

My partner and I are wanting to buy 1st home. We are 27 years old, have $100,000 saved and are in our 3rd year of full time employment with a combined income of $150K. Should we be stretching ourselves to buy in the area we love FIRST, or should we be buying an investment property and hope to build equity and use it to purchase our Principal Place of Residence down the track?

Question from Sonya:

Hi guys, love the podcast. There’s a lot of talk out there about the risk of Australians switching from Interest Only to Principal and Interest loans. I’m currently paying Interest Only, with no interest to refinance as I am starting up my own business and currently don’t have any other income coming in. Half of my loan is fixed, the other half is variable. My question is: should I pay down the principle of my investment property while the interest rates are low to control the risk of a high interest rate at a later date and the Principal and Interest I would have to pay when my loan switches over? I’m less interested in the tax advantages, and am more interested in controlling risk and reducing my overall repayments. I know that the longer my Interest Only repayment is, the higher my repayments will have to be when it switches over — and that doesn’t sound great to me. I’m sure this, and the impact of Interest Only lending, is of interest to other listeners, so I hope you can provide insight. Love your work again. Cheers!

Data Dive! Better Price Point, Better Location and Better Returns

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

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

Data Dive! Better Price Point, Better Location and Better Returns

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