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284 | Kyal & Kara from The Block โ€“ How To Renovate, Raise Kids, Run A Business & Not Lose Your Mind in the Process

โ€œKyal & Karaโ€ Demmrich became household names after the humble chippy & physio joined The Block back in early 2014 for their Fan Vs Favs series. And when that popular reality program was over, the courageous renovation-lovers decided to do it ALL again โ€“ this time on Reno Rumble in April 2015!

And now, with their own successful Design & Construction business, Diverse Design & Build, and tackling their own Renovation Series, Kyal and Kara are a near-perfect example of what itโ€™s like to renovate, raise kids, run a business and not lose your mind in the process!

In fact folks, weโ€™ve โ€˜gotta hand it to them โ€“ this couple is remarkably positive, healthy and staying ahead of the game!!

And guess whatโ€™s even more surprising? We actually interviewed them during โ€œThe Week They Never Want to Repeat!!โ€

So. Whatโ€™s their secret?

And what Renovation Tips could the rest of us benefit from?! (Maybe BEFORE you โ€œdo a Benโ€ and challenge your sanity be renovating the family home!

 

Free Stuff Mentioned

Free resources: ABCD during Pandemic

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What we cover in todayโ€™s episodeโ€ฆ

  • Life โ€œBefore The Blockโ€โ€“ What was Kyal & Karaโ€™s first ever renovation?
  • Applying for The Block โ€“ The audition and interview process
  • What was it like to have a camera crew following you around for 3 months straight? (And how did it feel when it was all over?)
  • Kyal & Karaโ€™s Backstories โ€“ What was money and the Property Story like growing up?
  • Why did they decide to do it all again so quickly?
  • What was the Bad Side of being in the spotlight?
  • What was The Planning Process like when turning around a room in one week? (Did they get help from the producers of The Block?!)
  • Whatโ€™s the deal with Kyal nailing his hand to the wall? (ouch!)
  • How did the find their current renovation project?
  • Top 3 Tips to Survive a Reno!
  • Accidents & Mishaps and things NOT to do when renovating?
  • Whatโ€™s the โ€œrule of thumbโ€ of renovation costs per metre?
  • Is the goal to Renovate & Sell or Renovate & Accumulate?
  • How do they keep their mindset in check?
  • How has COVID-19 impacted their current life? How have they pivoted?
  • Importantly: Whatโ€™s the secret to renovating, raising kids, running a business and NOT losing oneโ€™s mind in the process?

 

p.s. Here’s a quick snippet of the nail accident! ๐Ÿ‘‡

p.p.s. And here’s a behind the scenes view on our recording ๐Ÿ‘‡

 

 

 

UPDATE: WA Residential Rent Relief Grant Scheme

As each State Govt rushes to respond to this health crisis, we strive to update our community on the most recent changes relating to residential real estate as well. And this update is no different.

This time, weโ€™ll be unpacking the New Residential Rent Relief Grant released by the WA Govt last week on the 23rd of April 2020! The WA State Government is making available $30 million for grants of up to $2,000 for Western Australian residential tenants who lost their jobs on or after 20 March 2020 and are facing financial hardship due to the COVID -19 pandemic.

Here to fill us in on the details is Damian Collins, President of REIWA, theย Founder andย Managingย Director ofย Momentum Wealthย and also theย Chairman of commercial property funds management business,ย Mair Property Funds.

 

In this short update, weโ€™ll be covering these questions:

  • How are WA landlords and renters affected by a moratorium on evictions?
  • If there is any Land Tax Relief for Property Owners?
  • Can rent be increased during the emergency period?
  • What is the emergency period?
  • What constitutes Financial Hardship and what documents are needed?
  • Can a renter ask to reduce their rent payments?

For more questions relating to WA Rent Relief Grant, please refer to this website: https://www.commerce.wa.gov.au/consumer-protection/residential-tenancies-covid-19-response

And of course, if youโ€™re a tenant and are currently facing financial difficulties due to COVID-19, we strongly recommend you to check out the New Residential Rent Relief Grant by the WA Govt here to apply for the grant.

 

Free Resources

ย 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

Free Report: Top Tips on How To Master the Foundational PIllars in Pandemic Times

We realised that Ep. 279 | How To Master The Pillars in Pandemic Times could be a tad long for some listeners. But it is a crucial episode especially when we are right in the middle of a pandemic now.

That is why, we want to make it easy for our community to digest.

We’ve listed out all the key points in the episode and produced a summary notes of all the twenty-three tips on Asset Selection, Borrowing Power, Cashflow Management and Defence! Just leave your details below and we’ll email you the PDF right away.

  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

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283 | Buy & Hold vs Buy & Sell – which strategy works best in WA? – Chat with Damian Collins, President of REIWA

Andย soย ourย theme of chatting with theย Presidentsย ofย the property markets across theย countryย continues!ย 

Here to tell us whatโ€™s happening in Bryceโ€™s hometown (Perthย ๐Ÿ˜‰)ย and the best strategy a property investor should adoptย in WA,ย isโ€ฆย Damian Collins,ย President ofย REIWAย โ€“ the Real Estate Institute of Western Australia!ย 

The last time we checked in with Damian wasย waaayย back inย Episode 73โ€ฆ and thereโ€™sย been more than a fewย changesย in theย WAย property marketย between then and nowโ€ฆ plus, even more news since COVID-19ย came on the scene!ย 

A bit about todayโ€™s guestโ€ฆ Damianย has served on the REIWA Council since 2011 and was elected President of the Institute in 2018. Heโ€™sย beenย an active investor for over 25 yearsย and isย ALSOย theย Founder andย Managingย Director ofย Momentum Wealthย ย โ€“ย a Perth-based property investmentย consultancy.ย As well asย all this,ย heโ€™s also theย Chairman of commercial property funds management business,ย Mair Property Funds.ย 

We tackle the big questionโ€ฆ Should a Buy & Hold Property Investorย actually investย inย Westernย Australia?ย 

This oneย is for our WA folksโ€ฆ and those interested inย whatโ€™s happeningย on theย grounds in the Perth property marketโ€ฆย 

  • Pre-COVID-19ย 
  • During COVID-19ย 
  • Post-COVID-19ย 

ย 

Free Stuffย 

Free resources: ABCD during Pandemic

Fill in the form below and we'll email you the PDF right away! ๐Ÿ˜‰

  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

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What weย talk about in todayโ€™s episodeโ€ฆย 

ย 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

 

 

 

 

 

Bonusisode with Nerida – How does Australia’s Property Market Compare to the Rest of the World?

Time for our monthly catchup with Nerida Conisbee, Chief Economist at realestate.com.au! Itโ€™s a long one today but we promise you it’s jam-packed with absolute gold!

So here are some of the discussions we had today:

๐Ÿ‘‰ Whatโ€™s been happening in the rental market and AirBnB listings?
๐Ÿ‘‰ How did the Job Seeker and Job Keeper payments impact the real estate industry?
๐Ÿ‘‰ Which Australian markets are showing strong rental demand?
๐Ÿ‘‰ Whatโ€™s the ideal strategy during these uncertain times?
๐Ÿ‘‰ When is a good time to sell your property?
๐Ÿ‘‰ What conditions have to be met to cause a 40% drop in the Australian Property Market as a whole?
๐Ÿ‘‰ How does the Australian Property Market compare to Japanโ€™s?
๐Ÿ‘‰ Whatโ€™s likely to happen on the other side of this pandemic?
๐Ÿ‘‰ How are home buyers and investors’ activity looking like at the moment compared to previous months?
๐Ÿ‘‰ What are online auctions and are they efficient enough to replace offline auctions?
๐Ÿ‘‰ Tips on how to research and inspect a property online.

Hope this helps folks and don’t forget to check out last week’s episode on Coronavirus and Property FAQ here.

p.s. Want more of this? Subscribe to our podcast every Thursday at 3pm on iTunes, Spotify or your favorite podcast app!

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

 

 

 

 

UPDATE: Shocker Revoked!! Why property owners can rest a little easier in QLD now?

What a difference a couple of days makes, huh?!!ย 

Back on the couch isย Antoniaย Mercorella,ย CEOย ofย REIQโ€ฆ with some GREAT NEWS!!!!ย 

In light ofย last weekโ€™s episode,ย the Queensland Government hasย reachedย out to The Realย Estateย Insituteย ofย Queensland (REIQ)ย toย collaborate on a package that ensures protectionย forย EVERYONE… ie.ย tenants AND landlords!!ย 

Antonia willย fill you in on all theย amendments to the proposed Rental Relief Package, what this means for landlords and tenants,ย andย exactlyย HOWย the reversal of this initialย โ€œShockerโ€ย of a policyย came about!ย 

ย You can learn more about QLD Rental Relief Package here: https://www.covid19.qld.gov.au/the-hub

 

Theย amendmentsย to the proposed Rental Relief Package include:ย 

  • Rent payments and unpaid rent: Property owners and tenants can now agree on the terms of reduced rent and deferred repayment requirements.ย 
  • Financial hardship requirements: The combined income of tenant/s must have reduced by more than 25% as a direct result of COVID-19 or where the rent amount exceeds 30% of income/s and tenant/s cannot afford to pay the rent.ย 
  • Substantiation of financial hardship: Tenants must provide the same level of proof of income as is required at the start of the tenancy to seek a rent reduction.ย 
  • Entry requirements: The Government will provide clear guidance to ensure access for essential repairs and maintenance, the sale of a property and virtual inspections.ย 
  • Break lease: To qualify for the Governmentโ€™s break lease provisions, tenant/s must be in severe financial hardship which is defined as a 75% reduction in combined tenant/s income and have less than $5,000 in savings.ย 
  • Extension of a tenancy: A fixed term tenancy will be automatically extended to 30 September 2020 unless agreed otherwise.ย 

ย You can learn more about QLD Rental Relief Package here: https://www.covid19.qld.gov.au/the-hub

 

Free Resources

ย 

What we Cover in Todayโ€™s Episode

ย 

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

282 | โ€œI Was Fired Every Weekโ€โ€ฆ And Now Sheโ€™s The President Of The Largest Property Market In Australia – Chat with Leanne Pilkington, President of REINSW

Leanne Pilkington is no stranger to real estate. When she first started in the property industry almost four decades ago, things looked a bit different from what they do nowโ€ฆ

For one, she was literally fired from her job every Friday afternoon! And now? Well, todayโ€™s guest is the PRESIDENT of Real Estate Institute of New South Wales (REINSW) โ€” the largest and most influential association of real estate professionals in the countryโ€™s biggest property market!

Sure, Leanne Pilkinton is one of the most respected and sought-after commentators in real estate and a strong advocate for women in the profession, lobbying for improved education and training across the entire industryโ€ฆ but sheโ€™s also the Managing Director of leading NSW boutique real estate group Laing+Simmons.

And she knows the market inside and out!

Obviously, with everything COVID-19 going on, itโ€™s safe to say that Leanne is VERY MUCH in the trenches, lobbying the government and looking at new ways the real estate industry can adapt to this climate while also being really honest about the fact that quickly formed legislation can have a disastrous impact on real estate agents, property managers and landlords.

This is a passionate and knowledge-sponge of an episode, folks!!

 

The Free Stuff

 

Whatโ€™s Covered in Todayโ€™s Episode

  • Okay, whatโ€™s the deal with Leanne getting fired EVERY week?
  • What did the pathway to REINSW look like?
  • Whatโ€™s it really like being in โ€œthe boys clubโ€โ€ฆ and how can women in real estate navigate the industry?
  • What makes for a great selling agent?
  • What makes for a great property manager?
  • Whatโ€™s the best way a buyer can get a fair price on property?
  • How should property investors deal with real estate agents?
  • Should you tell a real estate agent your budget?!
  • Real Estate 101 โ€“ The Two Ways A Real Estate Agent Gets Paid
  • What will happen to industry professionals during COVID-19?
  • Whatโ€™s REINSW currently lobbying the government for?
  • Are there alternatives to paying stamp duty?
  • Whatโ€™s happened in NSWโ€™s property market since the coronavirus?
  • Is Leanne personally investing in property right now?
  • What should you expect from your tenant during COVID-19?
  • How to recognise โ€œopportunist tenantsโ€ from tenants in genuine hardship
  • The Sydney Property Market: Pre-, During, and Post- COVID-19
  • When will Open for Inspections and public auctions kick off again?
  • Whatโ€™s going to happen to the property market in September?
  • Whatโ€™s the real concern in VIC and QLD right now?

 

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

281 | Why The Easter Break Almost Ended in Disaster for Property Ownersโ€ฆ and How it Was Avoided โ€“ Chat with Leah Calnan, President of REIV

Yes, weโ€™ve got TWO back-to-back episodes this week! โ€˜Cos letโ€™s face itโ€ฆ thereโ€™s been A LOT that has disturbed the property industry over the week!

Case in point: Easter.

Oh, Easter. The break that had a lot of us biting our nails, not biting into chocolate eggsโ€ฆ and a lot of folks didnโ€™t even KNOW it almost ended in disaster for property owners!

Thankfully, common sense prevailed โ€“ and todayโ€™s guest had a great deal to do with bringing that levelheadedness back to the table.

Joining us today is none other than Leah Calnan, President of the Real Estate Institute of Victoria (REIV), the peak body of real estate down here in VIC.

And she has a wealth of experience to bring to the discussion โ€“ not only has she got over 24 yearsโ€™ experience in property managementโ€ฆ and is the Director of Metro Property Management & Metro Property Salesโ€ฆ but also, sheโ€™s recently taken over as President of REIV (back in October last year) after being on their Board of Directors since 2014.

So, when some crazy policy was announced regarding Victoriaโ€™s COVID-19 Rent Relief Packageโ€ฆ well, letโ€™s just say Leah spent her Easter break fighting hard for all of usโ€ฆ.

 

Free Resources Mentioned

 

What we cover in this episodeโ€ฆ

  • What went down during the Easter Break (abbuur!)
  • What was outlined in the Rent Relief Package that almost ended in disaster for property owners?
  • How did Leah and REIV get the Victorian Government to change their policy?
  • How well is Victoria placed in the property market? (pre- and post- COVID-19)
  • The challenges with tenants and landlords during COVID-19
  • What are the processing applications for property managers like now?
  • Has the Job Seeker and Job Keeper payments helped keep to bring stability back to the market?
  • How much does the Victorian real estate industry contribute to the total income of the State?
  • Rent relief, reductions, evictions and deferred payments: What landlords need to know
  • What are tenants currently asking their property manager for?
  • What do tenants need to provide to show evidence of COVID-19 hardship?
  • Who is MOST vulnerable in all this?
  • The land tax levels that are being paid

 

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

280 | QLD Govt Shocker: Why the Renter Protection Package doesnโ€™t protect everyone!… Chat with Antonia Mercorella

Thereโ€™s no doubt governments are โ€œregulating on the runโ€ with the current crisis on our hands. Coronavirus demands quick actionโ€ฆ but, wow, the Queensland Governmentโ€™s new โ€œRenter Protection Packageโ€ is a SHOCKER.

Whatโ€™s being proposed is, ahh, letโ€™s just say, out of step with the rest of the country and, quite frankly, seems to ignore the COVID-19 stimulus package already on offerโ€ฆ and leaves us landlords particularly vulnerable, especially if we have a property up in the sunny state. And we CANโ€™T HAVE this shocking, poorly formed policy to seep across the borders and infiltrate into other statesโ€ฆ because it would end badly.

Here to talk about these proposed amendments to the tenancy legislation (and why theyโ€™re slanted very much in favour of the tenant and can potentially damage the property industryโ€ฆ aka, a complete shocker!) is Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ).

To give you an idea folks โ€“ REIQ is Queenslandโ€™s peak body in real estate, and Antonia, as well as being a solicitor, has over 16 yearsโ€™ experience in the real estate and property sectors! And once you hear her passion and unshakable knowledge about her craft, youโ€™ll quickly know why sheโ€™s been identified as one of the 20 most influential people in Queensland real estate!

And, of course, youโ€™ll hear EXACTLY what the QLD Government has proposed in their new โ€œRenter Protection Packageโ€ and why itโ€™s a total doozy!!

 

Be Heard Before 22 April 2020 โ€” EVERYONE MATTERS

CLICK HERE To Support REIQ BEFORE These Proposed Changes Are In (it literally takes 1 minute folks!)

 

Free Resources

ย 

What we Cover in Todayโ€™s Episode

ย 

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

279 | How To Master The Pillars in Pandemic Times

As a property investor, you have to master the frameworks. But during a pandemic, you have to tweak specific strategies in each framework to not just survive in this climate, but thrive โ€” now and in the future.

Make no mistakeโ€ฆ the fundamentals DO NOT change! But in a brand new world, thereโ€™s no doubt that adaptability and proactivity in regards to our Four Pillars of Mastery โ€” Asset Selection, Borrowing Power, Cashflow Management and Defence (ABCD) โ€” are critical and will set you up for lifeโ€ฆ provided you work with this time of self-isolation, economy upheaval and uncertaintyโ€ฆ NOT against it!

When this is all over, we will see that the folks who were able to act and adjust quickly will be the ones who get out on top. We have seen it throughout history and most-recently during the GFCโ€ฆ so, while the coronavirus is an unprecedented and uncomfortable time for all of us, there are practical and smart strategies you can adopt NOW to make certain you get through the other sideโ€ฆ and not just โ€œunscathedโ€, but potentially in a great financial position.

So, maximise your results and efforts during this time and you will be rewarded for it.

And, please folksโ€ฆ DONโ€™T buy bargainsโ€ฆ the โ€œbargainsโ€ are that way for a reasonโ€ฆ and weโ€™re going to see a fair bit of this junk stock coming onto the market. So, donโ€™t be tempted. Donโ€™t do anything stupid. And stay focused on the objective.

In this episode:

ย 

Free Resources

Free resources: ABCD during Pandemic

Fill in the form below and we'll email you the PDF right away! ๐Ÿ˜‰

  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

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More on The Pillars of Mastery

 

And of course… Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

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