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174 | Stop! Don’t sign the contract until you’ve listened to THIS! – Chat about Strata, Body Corporates & Legal Stuff with Tim Graham

Folks, it’s a SERIOUS episode today… jam-packed with nothing but serious GOLD!! (Please no contract-signing until you’ve swallowed this stuff first.)

Why? Today we’ve got Tim Graham, Partner at HWL Ebsworth Lawyers, to discuss all things Real Estate Law … especially Strata!!

Strata? What do we mean? Think Off the Plan. Subdivision. Owner Corporate (Body Corporate). Townhouse. Apartment. Unit.

 

Yep. Tim practices exclusively in the areas of strata and subdivision law, Owners Corporation and dispute resolution with almost 20 years of experience! He’s the President of the Australian College of Community Association Lawyers (ACCAL), a Fellow of the College, named in Best Lawyers™ Australia for Real Property Law and has been recognised in Doyle’s Guide as a Leading Property and Real Estate Lawyer. He is also a Council Member of Strata Communities Australia. It’s enough to make your jaw drop, especially when you think about his know-how when it comes to domestic and commercial construction law, contractual advice and building defects claims, insurance reviews, repair & maintenance and Water Act cases in the VCAT and the Courts (and then some)!

Basically, Tim’s a heavy hitter who absolutely knows his stuff (Which’s exactly what you want from someone dealing with the “the fourth form of government”).

Quick heads up, folks: You might need to put this one back to 1 speed because there is some GOLDEN but TECHNICAL tips flying around. At the end of the day though, it’s crucial you know this stuff (why spend hundreds of thousands of dollars only to throw more money at a legal dispute?!)

 

Sensible disclaimer: Folks, the gold you’re about to hear is general advice only. So, please DON’T do anything rash, make sure you seek professional advice before making any legal or property investment decision!

 

Your dot point debrief….

 

We’ve also threw in a few Case Studies for Tim to comment on as well:

  • What can you do if someone’s having loud parties on your block?
  • Who’s responsible for cleaning the outside windows?
  • Can you erect a pergola in the backyard of my townhouse?
  • The visitor carpark is always empty, can I use it?
  • What if the complex has a pool and you don’t use it … do you still have to pay?

 

Pheww! What an episode, huh??

And a quick shout out to our previous guest, Nicole Faid, for sending the legendary Tim our way! (You can suss out her episode after: How to Avoid the 7 Costly Mistakes when Buying a Property – Chat with Nicole Faid)

 

P.S. Folks, don’t forget…
Send us your Money Hacks

Let us know if The Money SMARTS System has worked for you!
Tell us what SPENDING HABIT YOUR MOST STRUGGLING WITH

… basically, fill us in on what will help you most & we’ll include it in our new book 😉 [email protected]

 

 

173 | Q & A – The BATTLE ROUND: “This” vs “That”

It’s a “BATTLE ROUND” Q & A Day, folks!!

In other words… This vs That.

Yep. After 4 solid weeks of some seriously special guests interviews — starting with Alan Oster and ending with Stuart Wemyss — we’re finally in the ring for a good ol’ Q & A Session!

The Battle Round includes…

 

Resources to help if you’re battling a decision right now…

Demand vs Supply…

 

But before we hear the crowd roar (Stig stay silent) as we battle it out…

… we need YOUR answers!!!

For our brand new book coming out, we want to help as many Aussies as we possibly can!! So before we put the sprinkles on the icing of the cake/book… can you help us out?? (Especially if you’ve implemented The Money SMARTS System!)

  • What are your “Money Temptations”?
  • Where do you feel tempted to deviate with the Money SMARTS System?
  • What do you struggle most to manage with money?

TELL US your Money Temptations here.

 

And finally, don’t agree with Labor’s policy on Negative Gearing? Sign the PICA Petition here.

 

Question from Mal:

My question to you is about growth, and buying either into the Melbourne and Brisbane markets given their different position at the moment in the property market. If you had $650K to spend, in terms of growth on a house would you buy a smaller property further out of Melbourne or a larger property closer in Brisbane? With a buy and hold strategy of 15 – 20 years. Thanks, looking forward to hearing your thoughts.

 

Question about Costs vs Gains from Jennifer:

Hey Ben and Bryce. I’m a huge fan of your podcast and The Armchair Guide to Property Investing, and am very much looking forward to your new book. I’ve recently read another finance book, and their recommendation was that investing for the long term wasn’t a good investment because, although property prices do almost always increase, the costs associated with property investment like interest, property management fees, repairs and renovations are so high that it makes for a poor investment. And you’d likely get a better return with something like a shares portfolio. I’d just like to know your thoughts. Thank you.

 

Question about House vs Beach Apartment form Dennis:

Hi Bryce and Ben, my name is Dennis, living in Melbourne with my fiancée, in our early 30s. We are fans of your podcast, very informative. I have some equity from my family home I co-paid with my parents and after borrowing, our budget is about $500k.

First consideration is a 3 – 4 bedroom house in Ballarat because the Ballarat West Economic Zone is up and coming, aimed to create 9000 jobs.

Second consideration is a 2 bedroom beachfront apartment within 10 min of Apollo Bay/Lorne central area. We plan to rent it out as an Airbnb?, however our concern is the long vacancy periods during the colder months. What are your thoughts on both options? Which is a better first investment property? We are looking to hold it long term, unlikely to sell within 5 years.

 

Question from Steve:

Hi guys, my question is, “When do you know when the right time is to sell in an area?” Like they say in the stock market, no one rings a bell at the top … and I wouldn’t expect to be able to pick the top… but how do you decide when is the best time to sell? Is it data driven? Where yields are low and it’s had years of growth and now there isn’t as much affordability when mortgages are say 40% of the average income loan? Or is more of a sentiment-driven thing where the market’s now too crazy … people are bidding way over reserve, so you should just sell into that? The reason I’m asking is because I bought a Gold Coast 4×2 house for $350K in 2014, worth around $420K now, and at some stage the Goldy’s run will end and it will level out and this may be one earmark to sell. I mean, it’s very easy to look back and chart the price growth to see where you ”shoulda, coulda, woulda” sold; but it’s much more difficult when you’re in the middle of it. I think Geelong and Hobart are good examples of strong markets now. And they’d be optimal studies to see when would be a good time to sell into. I worked in Perth for 10 years, go the Dockers and (more footy talk!)

 

 

 

172 | The 5 Rules for Mastering the Game of Building Wealth – Chat with Stuart Wemyss

Ever wanted the formula to win the game of building wealth?

Well, folks… you’re in luck! Because today we have a very special guest on who’s going to hand you the GOLDEN RULES of building wealth that are founded in logic, simple maths and supported by historic evidence! (Sounds alright, huh?)

Joining us is Stuart Wemyss, author of the newly-released book Investopoly, and Founder of ProSolution, who has over 20 years’ experience in financial services. Plus, he comes with a Bachelor of Commerce, is a Chartered account and a repeat guest on the Couch — you might recognise his voice from Episode 81 when he brought the wisdom to long term investing!

So, his new book — again, it’s called “Investopoly” — discusses the 8 Golden Rules for Mastering the Game of Building Wealth… and Stuart’s sharing 5 of them today, and many other hacks to excel at property investing…

 

Stuart’s also kindly giving you the chance to pick up Investopoly for 30% off!!
Just click here, select a physical or an electronic copy and enter exclusive TPC listener discount code: COUCH

 

And, folks — PICA NEEDS YOUR VOICE

PICA has started a petition to campaign against Labor’s poorly thought through Negative Gearing and Capital Gains policy positions. Although Labor is not in Government at the Federal level, they plan to take this policy to the next election.

PICA has serious concerns about what this would mean for the economy, jobs and property prices across Australia.

We are calling on all Australians who don’t want to see the value of their property fall, or who don’t want to see our economy potentially falling into recession, to put your name to this petition.

PICA’s goal is to reach 100,000 signatures before the next election to help Labor understand that this policy is dangerous to the property market and the economy as a whole.

Please sign PICA’s Petition here to stop Labor’s Negative Gearing Changes.

 

Today’s reasons for listening:

 

Oh, and before these skips our mind…

  1. You can access Stuart’s blog here (well worth the read!)
  2. If you missed this week’s Facebook Live: catch it here.
  3. And for our new book on Money Management….

 

 

171 | John Lindeman’s Boom and Cash Flow Predictions

Want to know where the booms are predicted to happen? How about the property markets where you can target cash flow positive properties?

Joining us today, folks, is John Lindeman, Director of Property Power Partners and researcher and educator for the 7steps2success on-line property education program who has spent well over 15 years professionally researching the housing market, and let’s be honest, is the thought-leader who can teach you how to use property market research to predict your investment returns! With a couple of best-selling books up his sleeve — Mastering the Australian Housing Market and Unlocking the Property Market— and a regular contributor to Your Investment Property Magazine and numerous other media outlets, John’s definitely got some solid gold to dish out for you!

He and Ben are also speaking at his FREE event John Lindeman’s Boom and Cash Flow Prediction in Melbourne on May 16 if you’re interested in coming along. Just click here to reserve your seat.

 

Today’s rundown:

 

And a bit more housekeeping …

We’ve figured out the name of our BRAND NEW BOOK on Money Management… but we want to make a game of it before we tell you! So, if you think you can have a crack at what the title our new book will be — or you’ve got a clever title of your own (it’s gotta be money management related) — let us know! The titles we read out on the podcast will be the very first people to score a FREE copy of our book (once it’s published, of course).

AND, if you’ve implemented the Money Smarts System and it’s helped you, and you want to be a part of our brand new book, please tell us your story!!

… Wait, one more thing…

Got a “Money Hack”? We want to know all about it!! 

 

p.s. Looking for John Lindeman’s Books? Here are the links:

 

 

170 | Property Data Dive with Jeremy Sheppard & The Top 20 SUA Report!

We’re taking a plunge into the Property Data Dive today folks!

Because today the LocationScore Lads have got the band back together and so The Capital Growth King of Research, Jeremy Sheppard — Property Analyst, Research Director and Creator of DSR Data — joins us with the latest data that’s pointing its finger at hot growth markets.

And not only is Jeremy’s going to tell you where some of these hot suburbs are, but also he’s offering an exclusive listener bonus — the Property Market Swingers Report — which includes the TOP 20 Significant Urban Areas where demand exceeds supply. Think great areas to invest in!!

But before we get into all things research and supply and demand, we’ve got a bit of housekeeping to get out of the way first…

HUGE NEWS… The Property Couch is coming to Sydney in June for a Live Show!

PLUS, we’ve also figured out the name of our BRAND NEW BOOK on Money Management… but we want to make a game of it before we tell you! So, if you think you can have a crack at what the title our new book will be — or you’ve got a clever title of your own (it’s gotta be money management related) — let us know! The titles we read out on the podcast will be the very first people to score a FREE copy of our book (once it’s published, of course).

AND, if you’ve implemented the Money Smarts System and it’s helped you, and you want to be a part of our brand new book, please tell us your story!!

Last but not least before we throw you into today’s episode… if you’re thinking about a sea change or green change or any other change from city living… you can apply to be a part of Bryce’s new show, Escape From The City, and personally meet him! Catch his video on Facebook or Apply to be on Escape From The City now.

… Wait, one more thing…

Got a “Savings Hack”? We want to know all about it!! Let us know here.

 

Right, today’s show…

 

AND, don’t forget to download the FREEBIE for today’s show! Click here to download the Market Swingers | April 2018 Report or just fill in the form below:

Free resources: LocationScore Market Swinger Report - April 2018

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Property Market Swingers Report | April 2018

Ever wondered if a certain city has reached its peak, or if another has finally bottomed? Well, we’ve calculated the average LocationScore for Australia’s 20 most significant urban areas over the last 3 years.

Now you can see which macro markets are swinging up or down. LocationScore is a mark out of 100 for the level of demand relative to supply in a residential property market. The higher demand is with respect to supply, the higher the LocationScore.

 

Free resources: LocationScore Market Swinger Report - April 2018

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ps: We’ve got heaps of other Free Resources on the site! Make sure to check them all out here.

 

 

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