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349 | How To Avoid Paying Tax Without Going To Prison! – Chat with Julia Hartman

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Update: Hi all, just a quick update on this episode. At the 18 minute mark, we talked about Buyers Agency fees in Canberra and if it’s tax-deductible. We weren’t certain during the recording but we can now confirm that Buyers Agent Fees is not tax-deductible in Canberra.

Tax Time! The question is: what can (and can’t) property investors claim? And how can you get MORE tax back and avoid paying a cent more than you must WITHOUT breaking the law and ending up behind prison bars!?!

(The latter quite important for obvious reasons.)

Folks, we get that you want to claim as much as legally possible this tax season and keep as much in your “back pocket” (AKA offset or savings account 😉) as you can.

So, here to help property investors MAXIMISE their tax deductions on their investment properties is none other than THE #1 Property Tax Expert in Australia… Julia Hartman!!!

Julia is the Founder of BAN TACS, a co-operative of Accountants that has been helping thousands of Australians navigate the world of tax since 1992. (yep… since 1992… says quite a bit about her industry experience, right?). She has a Bachelor of Business and is a Chartered Accountant (CA), Certified Public Accountant (CPA) and a Registered Tax Agent.

And when it comes to Property Tax… Julia is ALL over it!

Not only is she CO-HOSTING this episode with Bryce and kicking off our AweGuest series while Ben’s relaxing in the north of Western Australia, but also Julia is a total JET when it comes to understanding the intricacies and often grey areas of tax… in a way that won’t make your eyes glaze over! (Phew!)

 

We’ve broken this episode into a 3-part framework for you:

  • 1 – What Everyone Needs To Know About Property Tax!
    • CAN’T Claim Deductions
    • CAN Claim Deductions in the income year you incur the expense
    • CAN Claim Deductions over a number of income years
  • 2 – Other Important Taxes to Consider
    • Capital Gains Tax (CGT)
    • Goods and Services Tax (GST)
  • 3 – Listener Questions on TAX!

 

Plus, Julia has thrown in a property checklist of Dos and Don’ts as well.

So… fancy some winning property tax tips? Listen now to get ‘em.

Folks, as mentioned in this episode, we’ve just introduced a NEW TAX SERVICE within our business. We very rarely mention our own company on the show, but if you are on the hunt for a specialised property tax accountant, fill in the form below to register your interest or click here to find out more.

  • Please select your type of Tax Return

  • If you've engaged our services before, tick the checkbox below:

 

Free Stuff Mentioned

 

The Questions We Answer

Psst… if we’ve answered your question today please get in touch with us here so we can organise your free access to Start & Build 😊

 

Question on Capital Gains Tax on Knockdown Rebuild from Tamika:
Hi there Property Couch. I’ve been loving your podcasts I’m enjoying them. I’ve been listening for over 12 months since I’ve found them, I’ve been looking forward every Thursday to the little message saying that they’re uploaded. I’ve got a question, it’s in regard to capital gains tax and knock down rebuild. I don’t know what sort of information I need to keep and whether a valuation prior to a demolishment is necessary all of that sort of information. If you could please help with this? I’m thinking your tax agent Julie Hartman might have the best sort of information and advice in this situation. I’m planning to demolish a property that I’ve held for over 15 years, it’s been a rental income since day dot and obviously it was a lot cheaper, the land value and the house, and I just want to get this right so if you could give me some advice I’d really appreciate it. Thanks!

 

Question on Deductibility of Interest from Lennard Abarcar:
Hello everyone, I’ve got a question for Julia. I took on a new loan by extracting some equity from an investment property that increased in value. Will the interest on this new loan be tax deductible if it is used for one of both of the following: renovating the investment property or paying the monthly interest expense of the investment property loan? Thank you!

 

 

Quote of The Ep:

“The difference between tax avoidance and tax evasion is the thickness of a Prison Wall” – Denis Healey former Chancellor of the Exchequer

 

 

 

348 | From Refugee To $140,000 A Year In Passive Income! – Chat with Toui

By in Real life stories, Summer Series

From Government Welfare to Passive Income! Yep, you read that right. You’re about to hear a refugee’s real life story to a self-funded retirement. And we probably don’t need to tell you that this Financial Transformation is Off-The-Charts incredible…

Meet Toui “pronounced Twee”. A first-generation refugee who came to Australia in 1980 for a better life. And he is now talking to us from an EXTREMELY DIFFERENT financial position than when he and his family first arrived from Laos as all those decades ago!

Fast forward to today, and Toui and his own family – his wife Jen and their 3 kids – are now on track to a passive income of $140,000 a year! Yep. This story certainly takes “If it’s meant to be, it’s up to me!” to a whole new level.

And, get this, there’s EVEN MORE to this financial transformation… (so many layers of awesomeness going on!)…

Case in point: Have you heard of something called “Microsoft Money?”

Well, let’s just say Toui’s got a bit to share with you there too…

Look, folks… while our new Winter Series has set a seriously high benchmark (how good have the listener transformation’s been!?!), we just might’ve saved the best for last!!

Please Listen.

 

Free Stuff Mentioned

 

Here’s what we cover…

  • 02:52 – Meet Toui.
  • 03:20 – Starting Life As A Refugee…
  • 04:09 – “You think we’re made of money…”
  • 04:40 – When you miss out on breakfast and sometimes lunch as well…
  • 05:51 – Early memories that shape Toui’s upbringing (wow!)
  • 07:23 – The beginnings of breaking free from Financial Survival
  • 10:10 – The Big Shift In Mindset That Really Changed Everything!
  • 11:47 – The pull to “Want to be Like everyone else…”
  • 14:12 – Has Toui’s brother followed a similar path?
  • 16:00 – Okay. But what was The Big Pivot REALLY like?
  • 19:07 – Why property?
  • 19:28 – “I’ve got toys that I want to play with” – How to curb impulse buying…
  • 20:10 – Is Microsoft Money all it’s cracked up to be?
  • 20:27 – The Mate that got him onto The Property Couch!
  • 23:07 – The power of an END GOAL!
  • 25:33 – THE provisioning story… “Jen’s gonna hate me…”
  • 28:46 – Toui’s simple advice for YOU…
  • 30:55 – The critical importance of self-education
  • 32:44 – When you can retire 10 YEARS EARLIER than you first thought… (!!)
  • 38:56 – THIS is where people get stuck the most!
  • 39:33 – Why you MUST STOP Keeping Up With The Joneses!
  • 42:33 – … $140,000 in passive income!
  • 43:03 – How are they going to achieve that!?!
  • 43:04 – … HOW MANY??
  • 44:14 – The most powerful instrument in investing!
  • 44:51 – What lessons does Toui want to pass on to his kids?
  • 45:09 – Forcing the family to listen to The Property Couch! (LOL! Sorry, guys…)
  • 47:14 – Being able to tell Dad how different life is now…

 

Note: There are more real-life investor stories like this in our Previous Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Toui?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

347 | “Whatever You Do, DON’T Do What I Did!” – Listener Shares His Big Wake-Up Call – Chat with Scott

By in Real life stories, Summer Series

Meet The “Squirreller” ­ – or should we say EX-Squirreller – who unfortunately learnt the hard way about the real costs of Pinching Every Penny… 😬

Here’s the deal:

Joining us today is listener Scott who has a very, very important message for our community. ESPECIALLY for those who, like Scott, happen to view money as safety – and as because of this, do whatever they can to minimise their spending. To the point that’s, ahh, well, “NQR” – Not Quite Right. Even if it’s coming from an honourable place.

Before you ask – YES – there IS a point where you can “squirrel” or save TOO much money! And the tip-over point? When your relationship with money begins to ruin your relationship with your family…

In this tell-all episode, Scott generously shares his Big Wake-Up Call that forced him to seriously reconsider his squirrelling habits. A lesson he learnt the hard way and doesn’t want for you, or anyone else.

But this is only part of the story.

Not only will you learn what caused the “OMG, I need to change” shift in mindset and how Scott managed to safeguard tomorrow WITHOUT sacrificing his family’s ability to enjoy today… but also, you’re going to learn what it’s like to build a property portfolio from a “regular” Australian who simply wants to create a better future for himself, his wife and his kids. And, yep, this includes the good, the not-so good and the “Whatever You Do, DON’T Do What I Did!” mistakes.

In short, this ep is a word to the wise – and we highly suggest tuning in folks! ‘Cos, you know what they say… it’s best to learn from someone else’s mistakes than to learn them first-hand…

 

A huge shout out to Scott for his extreme transparency — we have no doubt that your hard-won wisdom will be of immense benefit to our community 🙏🙌

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 01:48 – Meet Scott.
  • 01:50 – Oh no, not another Collingwood supporter!
  • 03:46 – Money conversations around the dinner table…
  • 04:37 – In the good ol’ days of Layby…
  • 05:36 – Scientifically Proven Benefits of Delayed Gratification!
  • 07:50 – Inside the mind of a Squirreller…
  • 09:15 – The Warning Signs of Financial Anorexia!
  • 10:32 – The First Big Purchases (… would you do this??)
  • 13:27 – The Understated Power of DEFENCE
  • 15:13 – Why Property Investing Should Be Boring!
  • 15:38 – When Being A Squirreller Causes Stress In Your Relationships
  • 15:58 – Money as Safety. Let’s talk about it…
  • 17:28 – What caused the change…?
  • 18:28 – How is Scott implementing Money SMARTS?
  • 19:24 – What planning work has Scott done with his portfolio?
  • 21:05 – When the goal is NOT to retire!
  • 21:47 – Life As An EX-Squirreller: How it positively affects intimate relationships
  • 23:25 – What does Scott think has been the BIGGEST impact to his success?
  • 25:03 – Scott’s Money Mantra!
  • 27:19 – … Paid CASH for his Principle Place of Residence!?!
  • 28:23 – The Ups & Downs of Joint Ventures
  • 31:00 – Was everything done by the book??
  • 32:17 – What caused the deep desire to build a property portfolio?
  • 34:04 – How on earth did he swing Eddie McGuire into THIS sentence! (well played, Scott, well played!)
  • 32:25 – How does he organise his buffers?
  • 36:30 – The property in South East Queensland… (ouch!)
  • 37:44 – What you need to know about “Growth Corridors”
  • 38:41 – What does Scott ALWAYS look for in an investment property now?
  • 40:00 – Passing On The Wisdom: What Scott wants you to know about “falling for the bling”…
  • 43:39 – How’d he get pitched by a Spruiker, anyway?
  • 49:06 – The Biggest Lesson!
  • 50:30 – What money advice does Scott pass onto his teenage kids?
  • 54:10 – How many more properties does he have left to buy?

 

 

Note: There are more real-life investor stories like this in our Previous Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Scott?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

Best Business Podcast – Episode Ranking | June 2021

By in Free Resources

June started with lockdown after lockdowns… Surely, the strain of uncertainty could come creeping in every once in a while as everything we do and everything around us seems almost at a standstill if not tugging us. Still, Australia’s housing market generally stays resilient with Home value gaining a stronger lift in May. June’s growth conditions is looking favorable too.

June, after the Roman goddess Juno – the god of marriage and childbirth… we may say… is a good month for new beginnings!

 

🎥 Here are the Episodes that trended in iTunes

 

🎥 June Episodes

June 1 : RBA June 2021 : Inflation Risk – How bad is it?

Ben gives another update on the Reserve Bank of Australia’s cash rate, sheds light on Inflation risk and looks into the overall Economic Outlook in United States, China, Japan and Europe. Talks about the latest business conditions, 2021’s Federal Budget and much more!

 

June 3, 2021: Episode 341 | How To Pivot Your Investment Strategy When Affordability Changes

What will you do if property prices keep going up and you can no longer afford an investment-grade property? This episode talks about what would your investment strategy be when affordability changes.

👉 Get The Recap Of The First 20 Episodes Your Binge Guide to the Foundations of Property, Finance and Money Management

👉 SRP – Location Research Tools

 

June 10, 2021: Episode 342 | From $250K to $2M Properties: How To Invest No Matter What Your Budget Is!

How to invest whatever your budget is, your age is, or whatever your strategy is …  Ben & Bryce also talked about the Donut Ring Concept, how to sell an investment to buy a PPOR  and why Rentvesting is a better idea. Plus, the 7 ways to help your kids get on the property ladder sooner!

👉 New ATO Data – Interest In Rental Property!

👉 Ben’s Video: 7 Ways To Help Your Kids Get On The Property Ladder Sooner

 

June 17, 2021: Episode 343 | “Pass Go & Collect $200” – 6 Property Lessons From Monopoly!

Here Bryce & Ben shares the 6 Proven Property Lessons AND …. yup! That’s it 😊. Whether you want to apply it in your life or not, all up to YOU! .. but we say… YOU SHOULD!

 

June 24, 2021: Episode 344 | Have You Made The Wrong Investment Decision?

Ben & Bryce will discuss, and will never tire of discussing the fundamentals for we often get that “have I made a mistake” question most especially to those new to our Podcasts. This episode is also for D.I.Y Investors and would be D.I.Y-ers (is there a word? 🤔) D.I.Y.-ers common mistakes in doing valuation, and when to bring in an expert. If your investment property has solar panels, will it increase the value and rent? … What do you think? … find the answer in this episode.

 

 

🎥 P.P.S. Here are some of TPC GOLD that we’ve done in June. Do check out our Facebook Page for more videos like this. Enjoy! 🙂

346 | No More Properties Left To Buy: How This Couple Did It!

By in Real life stories, Summer Series

Financially Free Before 30… How!?!

Folks, in today’s episode we’re interviewing a young couple who, get this, have no more properties left to buy.

Meet Emma & Liam – D.I.Y. property investors who are “Done & Dusted” with only 2 investment properties and one family home.

Um, wait a minute…. Are you wondering, “How on earth…!?!”

Yep, we were equally blown away too.

Here’s where it gets even better – they did it with No bells, No whistles – just a couple of clever, cost-effective renovations and – the big one – they lived and breathed delayed gratification.

And now Emma & Liam and their small family is Set For Life.

… Wanna find out how these listeners did it?

Us too – strap yourselves in!

 

Free Stuff Mentioned

 

“Winter Series” Line Up So Far (More To Come!)

 

Here’s What We Cover…

  • 01:13 – Meet Emma & Liam!
  • 01:47 – “Money Doesn’t Grow On Trees”, they said…
  • 05:01 – Money lessons learnt from Nintendo!
  • 08:50 – When they first started, how did they set up their bank accounts?
  • 11:23 – Have they ever BLOWN their cash!?!
  • 13:13 – Financially Free Before 30… let’s seriously unpack it!
  • 14:18 – What did they have to sacrifice to make it happen?
  • 16:39 – What do they prioritise above all else?
  • 16:57 – How much time did Emma save by using Money SMARTS?
  • 18:32 – “Experience Over Things” — Why It’s The Best Way To Live!
  • 20:30 – WHY did they want to build a property portfolio in the first place?
  • 23:30 – Meet Their Properties!
  • 25:09 – The D.I.Y Renos!
  • 27:48 – “Don’t Buy Any More Properties!” — Their reaction to being told they were DONE!
  • 32:46 – Were they tempted to keep buying property, anyway?
  • 36:31 – The Mexican Fishing Story Every Property Investor Needs To Hear!
  • 38:15 – The #1 thing you need to succeed as a property investor!
  • 41:12 – Emma & Liam’s Top Renovation Tips!!
  • 43:18 – How to cut your Renovations cost (smart!)
  • 46:11 – Are there fights in the household over money?
  • 46:19 – Why it doesn’t matter if you’re NOT debt free! (wait, what!?!)

 

 

Note: There are more real-life investor stories like this in our Previous Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

 

345 | COVID Crashed Their Careers – But Now They’re On Track To A Passive Income! – Chat with Tim Martin and Thomas Henry

By in Real life stories, Summer Series

When Covid hit, Tim and Thomas lost their jobs practically overnight.

At the time, they both worked in aviation – at the same airline, in fact – but all this changed for the couple when international borders went into a snap lockdown and not too long after, they were made redundant from careers they loved… and ones they imagined doing for the rest of their lives.

What happened next is – quite frankly, folks – hard to believe, and no doubt not the norm; particularly when you consider the fact that their life as they thought they knew it suddenly takes a drastic and unwanted shift.

What you’re about to get in this episode is not just a rare look inside an unshakeable mindset, but also something else entirely…

See, prior to all this, our listeners Tim Martin & Thomas Henry had been busting their guts trying to save for their first home deposit…

… and although they hadn’t saved enough just yet, with a click of someone else’s fingers, their years of hard work was immediately under threat.

Think about it for a sec – Their careers were gone. There were job losses sweeping across the globe. There was a serious virus scaring a lot of folks. EVERYTHING was uncertain…

And yet what Tim & Tom decided to do next was…

… Well, Wow.

Please just listen to this episode folks – we’ve kept it the last in Winter Series ‘cos if it ain’t a bang, we dunno what is!

Huge shout out to Tim & Tom for sharing their incredible story with us – powerful stuff, folks!

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 02:24 – Meet Tim and Thomas
  • 02:59 – What was money like for Tim growing up?
  • 05:28 – When did Tim’s parents purchase their first home? Why?
  • 07:36 – Money discussions around the dinner table for Thomas
  • 07:56 – Coming from nothing, and building your own business!
  • 10:33 – The first paychecks…
  • 13:11 – When you follow dreams that aren’t yours…
  • 16:06 – Falling headfirst into the credit trap :-/
  • 16:43 – How BIG was the credit card debt!?!
  • 18:26 – How did Tim get on top of such a large debt spiral?
  • 21:16 – The BIG Pivot…!
  • 23:33 – When a pandemic stops your entire industry!
  • 23:47 – Why was the airline life so appealing for them, anyway?
  • 26:43 – Their saving tactics for the first home deposit
  • 29:33 – How they discovered the pandemic wasn’t going anyway any time soon
  • 30:18 – The immediate pivot to casual work – How? What? Why?
  • 33:21 – How to use Action as a form of taking back control
  • 34:10 – Finding opportunity amongst the chaos
  • 25:00 – Where do they work now?
  • 35:39 – How many temporary jobs did they “go through” in 6 months?
  • 36:54 – Finding The Property Couch… 🙂
  • 38:44 – Not Cynical But Sceptical… How They Recognised The Spruikers!
  • 41:19 – The hidden benefits of REAL property investment advice
  • 42:28 – How to retire at or before 60!
  • 44:01 – The “Zero to 100” Mindset…
  • 45:08 – Okay, let’s get real – how did all this upheaval feel?
  • 47:32 – The most transformational episodes!
  • 49:26 – How much do they plan to spend on travel each year?
  • 50:38 – Why buy an investment property BEFORE a PPOR?
  • 53:49 – How many properties do they need to achieve their passive income target?

And…

  • 1:00:29 – A look back in the rear vision mirror…

 

 

Note: There are more real-life investor stories like this in our Previous Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

344 | Have You Made The Wrong Investment Decision?

By in Podcast, Q&A

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“Have I made a mistake?” This is a common question we get from investors who just start listening to our podcast and learn the fundamental principles we teach for the first time.

Sometimes it’s directed to a specific property in their portfolio or is based on an investment decision they were initially considering but are now unsure if it’s a good idea or not.

And today we are answering some of these key questions – one, in fact, where the listener is not entirely “wrong” in their choice, though at face value seems to go against our general rule of thumb. You’ll learn why exactly this is and how to use this information in your own decision making process.

On top of that, we’re unpacking how to tell HOW MUCH a property is worth – including common D.I.Y mistakes folks make when trying to value their property and some simple (but overlooked) tips to assess this yourself and how to recognise when it’s time to bring in an expert.

Plus, if you’ve ever considered if solar panels on an investment property will increase its value and even the amount of rent you receive, then definitely tune into this episode… ‘cos you might be surprised by our answer!

You can suss all the questions we answer below – otherwise simply hit play and enjoy the show!

 

Oh, and, yep – Next week we’re kicking off our NEW WINTER SERIES. It’s kinda like our Summer Series but, umm, in Winter 🤣 So we’ll be interviewing our listeners who’ve had Real Life Financial Transformations! And we gotta admit… these stories are off the charts!

 

 

Free Stuff Mentioned 

 

The Questions

Question from Ricky Comerford on “Getting Solar Systems For Investment Properties”

Hi Ben & Bryce and all the team working behind the scenes. I just want to thank you for these podcasts and all the wonderful things that you are doing at Empower Wealth. I have a question today in regards to Solar Energy in a Solar System. Now, we’ve got a strict budget for our primary place of residence that’s currently being built. This house is going to be turned into an Investment Property in 6 years’ time. We’ve been quoted for a solar system and it’s pushing the budget by $3000. Now, the return for investment for this Solar System will be 3-5 years, not taking away the fact that solar power is great for the environment. I just want to know strictly financials What is your opinion on solar systems for an investment property?

Do they increase the value of the home by much and the rental yield? And should we get one installed knowing the situation of this house and our budget and the fact that it’s going to be an investment property? Thanks for your time and yeah, hopefully I get a response.

 

Question from Riley on “Buying New with Grants Instead Of Established”

Hi Bryce and Ben, I’m just wondering with all the government grants that are coming out at the moment, if it’s almost a bit too good to say no to at the moment as a first time buyer. I’ve been looking to get into the market for a while now. And down here in Tasmania, we can access up to $45,000 in grants to build a new place. I know it sort of goes against everything that you’ve taught in your podcast. But I’m just wondering if it’s probably now with these grants a better way maybe to get into the market. I know certainly from my perspective, that’ll help with cashflow as well, given that I’ll probably get an extra, maybe bedroom and bathroom into the house as opposed to buying a smaller townhouse type of property closer to the city. So just wondering what your thoughts would be on that, if it is now possibly a better option to be building a house rather than buying existing? Thank you.

 

Question from Kate on How To Calculate Loan To Valuation Ratio

Love the show. I’ve been listening for a few years now and I’ve done all the episodes and I tell everybody I can about The Property Couch. So my question relates to loan to value ratio.

Obviously, it’s easy to determine what the outstanding loan amount is, but where would you go to determine the best value do the free bank valuations cut it? You know, the ones, I mean, I’ll flick by most of the big banks put the address into the website and they spit out a value, but it is generally so broad that is almost useless. Should I ask the bank where the mortgage is held for evaluation? If so, would there be a fee payable? Should I get a real estate agent thing? I probably want to over the value of the property and use RPM. Isn’t that the same as what the bank is? Please help.

 

Question from Riley on “Have I made a mistake?”

I just want to start off by saying that I absolutely love your podcast along with the books and resources you provide. I have just signed up to your workshop and the Money S.M.A.R.T.S portal, which I am excited to get started on! You’ve probably heard this a lot but I wish I had found The Property Couch sooner!

My wife and I are settling on our first investment property in Vasse, WA next week.  I only found your podcast 4 weeks ago and have a lot of catching up to do! I have a couple of questions if you guys have the time to go over them.

Little bit of background:

We are 34 and 30. Bought our first home together almost 8 yrs ago in Padbury, WA and still living in it now. Had the expensive wedding, bought the dream car (for my wife who has expensive taste) and now we are just about to settle on the first investment property.

Together we earn $203,500 before tax but we are hoping to start a family asap so we will drop down to one wage of approx $104,000 (self-employed and pay myself $2k p/week before tax) in approx 6month – 18months.

The house is a 6yr old 4×2 in Vasse on 570m2, great spot (I think) between the high school and primary school in a fast-growing area (they predict the population of the South West will quadruple in the next 20yrs) and rentals are very scarce. We paid $416,000 and it is currently rented out for $480 p/week on a 18month lease. We signed up on a very low rate 2yr interest only loan and I have worked out that after expenses (mortgage, prop manager fees, insurance, rates and 1.5% maintenance) we will have approx. $10,240 left over making this property positively geared.

In my view (prior to discovering your podcast) I thought it would be great to have it positively geared straight away as we can put that surplus towards the deposit for the next property and/or renos for the Padbury house (want to make it into a 4×2, currently a 3×1

and already have plans drawn up) but from everything I have heard is that when you first acquire a investment property it starts off negatively geared and may take 5-10yrs to become positive.

 

So to the questions:

  1. Have we done something wrong?
  2. Do you recommend that we put all that surplus into the Padbury house (PPOR) offset until we are ready for the next deposit or would you put it into the investment house offset?
  3. Do we make it negatively geared for the short term to pay less tax? (we have surplus cash that I’d love to put towards our next property asap even though we are paying lots of tax)
  4. After the 2 yr period would you switch to a P&I loan or keep it on a IO loan?

 

I know there are a lot of factors at play, and I hope I have given you guys enough information to comment on our situation and we would love to hear your views. Sorry if this has been covered in your podcast but I am still only up to episode 40, I need to do some more long drives as that is the only chance I get to listen 🙂. Again, thanks to both of you for your time and knowledge, you make me excited about property investing and I can’t wait to learn more and more as I go through TPC free resources.

 

 

 

343 | “Pass Go & Collect $200” – 6 Property Lessons From Monopoly!

By in Podcast

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Ah, Monopoly – the classic board game… chances are you’ve got fond (or maybe even frustrated?) flashbacks playing it…

[… Nothing quite like the feeling of “Passing Go”, getting a quick cashflow lift, and then proceeding to bankrupt your loved ones in a friendly-but-no-so-friendly game of Monopoly… 😅]

Well folks, Did You Know… the 100-year-old property-trading game actually has 6 Proven Property Lessons that you can (and should!) apply in real life!!

Yep. And here’s the deal… today we’re unpacking exactly how you can apply these key lessons from Monopoly to YOUR own lifestyle design!

Look, this episode’s a bit of fun BUT, most importantly, is full of timeless takeaways that’ll shake up the way you look at property investing… (and help cement the wisdom!)

 

Can You Guess The 6 Property Lessons…? 👇

  1. Always Be __
  2. The Most __ __ Is Not The Best
  3. Focus on __
  4. __ Your Investments
  5. __ Matters
  6. __ __ Is The Key

 

Tune in now to get the answers!

 

Free Stuff Mentioned

 

Here’s A Bit Of What We Cover…

  • 02:49 – Your BIGGEST Competitive Advantage!
  • 04:24 – Wait, you’ve NEVER heard of Monopoly..!?!
  • 05:43 – Bryce first thought you had to do THIS when negotiating…
  • 07:46 – LESSON 1: Always Be __
  • 08:39 – Trying to buy everything you land on… (and The Meltdown!)
  • 11:43 – How to Hack Probability WITHOUT Gambling…
  • 13:09 – Things we ask ourselves BEFORE we purchase anywhere
  • 13:22 – Can you get it right 100% of the time!?!
  • 14:17 – The block of dirt Ben almost bought…
  • 15:14 – LESSON 2: The Most __ __ Is Not The Best
  • 15:28 – When you’re caught up trying to buy Mayfair and Park Lane…
  • 17:48 – The most expensive properties on Monopoly… but in Australia!
  • 19:55 – LESSON 3: Focus on __
  • 20:18 – How to recover when you pick The Unlucky “Chance” Card
  • 23:20 – When the borrower is at the mercy of the lender…
  • 25:06 – The BIG yield between the “red” and the “blue” properties!
  • 25:47 – LESSON 4: __ Your Investments
  • 28:26 – What Monopoly teaches us about BORDERLESS investing…
  • 32:19 – LESSON 5: __ Matters
  • 32:45 – What squares are MOST landed on in Monopoly? (And what does this hint at when you invest in property…?)
  • 37:19 – LESSON 6: __ __ Is The Key!
  • 40:32 – Robert Kiyosaki’s cashflow game…
  • 43:42 – What the creators of Monopoly quickly realised…
  • 44:38 – 7 reasons why playing Monopoly is a great for kids!
  • 46:42 – Bryce’s version of Monopoly at home (LOL)
  • 46:57 – The Reality of Retirement WITHOUT a passive income…

 

 

342 | From $250K to $2M Properties: How To Invest No Matter What Your Budget Is!

By in Podcast, Q&A

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Have you ever wondered how to invest in property with YOUR specific budget?

Like, what if you DON’T have a big budget to spend…?

Or, on the contrary… what if your budget’s actually quite healthy – but you’re not sure if a $1 million – $2 Million property is really a premium investment (Should you buy two cheaper investment properties instead?)…

Folks, they’ll be something for you in this Q & A episode… ‘cos we’re covering A LOT of ground here – how to invest no matter what your budget, age or strategy is!

We’ve got everything from…

  • Investing at 21… and 60!
  • Buying $250K or $2M Properties
  • Getting the “Big Rock in the Jar” at every life stage
  • Selling an investment to buy a dream PPOR
  • Understanding The Donut Ring concept
  • Unpacking new ATO data that reveals current investment trends
  • Helping kids get on the ladder
  • Why Rentvesting is mathematically a better idea, BUT….

Let’s just say: you’re in for a solid treat.

Listen now and find out how to successfully invest at any stage of life or budget 🕺▶

 

 

Free Stuff Mentioned

 


The Questions We Answer…

 Question from Sharon on Buying Higher Priced Properties

Hi Guys, Thanks for having such a great podcast. I’ve recently got very addicted to it and I’m really enjoying it. I do have a question though around the value of properties that we should buy. I hear you talk a lot about your asset selection but I never heard you talk about higher priced properties, so like when you’re well over the $1 million mark. We live in Melbourne in the North, so we’re looking $1.5 to $2M for our next purchase and I’m wondering if you consider that a best investment or what you think about high priced properties ‘cos obviously that’s still just like a very average 3 bedroom house in the North. So I am just wondering if you don’t talk about it for any reason, or if there’s some reason you should avoid that price point.

 

Question from Steve on Selling An Investment Property for A PPOR Or Buy Cheaper

Hey Gents, absolutely love the podcasts and I’ve been a listener for many years now. I’m 30 years old with a fiancé and we have an investment property fully paid off worth about $600,000. We’re currently renting very cheaply in order to save for our principal place of residence, so we were originally looking around the Ringwood area to spend about $900,000, but due to such limited opportunities I feel, and really average properties that don’t have scope to expend, we are considering selling the investment property off and plunging pretty much all of our net worth into a property that will allow us to get us into something more like around the $1.2 or $1.3 Million mark. In saying that, we’ll still probably only need to take on a loan of about $600,000 between the two of us, which is quite achievable, however just wanting to sort of get some advice from you.

Do you think it’s worth trying to buy our dream home — something that we’re gonna be happy for a very long time — and selling off the other investment, or whether we should be holding onto the investment and obviously sacrificing our lifestyle for the short term and turn to getting into something a bit cheaper?

Really interested to hear your thoughts. I am very, very confused at the moment. Thanks guys.

 

Question from Julia on Sell or Hold An Architectural Apartment in Inner Sydney

Hi Fellas, I feel really strange talking to my computer asking a question but I love your show, really had a great time listening to it. So my situation is I am in my early 60s and I’ve been working on super and all that stuff and I own my own home, but I bought an investment property in the heart of the city of Sydney. It was actually in a designer’s building – it’s got about 51 apartments there. Anyway, COVID came and of course the tenancy situation really changed in the heart of Sydney.

So, I did have to reduce my rent from $650 for a one-bedder down to $520 a week so that was a massive drop for me, but really my question is about – over the last 5 years since I’ve owned the property it’s only gone up about $20,000 ‘cos I think I’ve paid at the top of the Market.

My question is, Should I cut my losses being in my early 60s or should I hang in there and hope for better days?

My original plan is to keep this property well into my 80s and I’m just feeling the jitters because the rent has dropped so much and the value just hasn’t increased over the last 5 years so any input would be appreciated.

 

Question from Gabby on Buying A $250,000 Property

Hi! My name is Gabby and I’m a 21-year-old from West Australia. I love your Podcast, but I feel as though I belong to a bucket that you haven’t talked about much. I’ve been boarding and renting my whole life, but wish to or have to move out of home eventually and hopefully soon especially with low interest rates. I want to buy an old unit with 2 bedrooms in a small block priced between $250,000 and $300,000 and then rent out a room to a friend.

It’ll be in the East Fremantle area hopefully, which is on the premium side of first home buyer suburbs, but it could be out of my grasp if I sit on it for too long. The problem is that I don’t actually have the money needed and my parents are happy to invest as long as it makes sense. I’m thinking that repayments could be roughly $260 a week and the room could be rented out for $120 at least a week. This basically makes almost cheaper than renting but me getting the lifestyle and the property at the end.

Do I get them to go Guarantor or use the complete trust we have with them instead taking on the loan as an investment, but me paying it off behind closed doors and essentially taking it over by the end.

 

 

Best Business Podcast – Episode Ranking | May 2021

By in Free Resources

May had been a good month! Home Value lifted from where it was in April and we also chatted with Phil Slade and Veronica Morgan and the amount of knowledge that they shared is priceless. 

And through all what the mighty seasons may bring, here’s what happened on the show in May.

🎥 Here are May the Podcasts that trended in iTunes

🎥 May Episodes

May 4, 2021 : RBA May 2021 – When What Gets Better, Gets Better!

Ben gives an update on Reserve Bank of Australia’s cash rate, the United States GDP, Jobs Market, Housing Market and the IMF Latest World Economic Outlook. He also talked about the positive economic indicators for Australia and the why is the RBA fixated on inflation and if you want to get more information on the Australian Market and what’s it looking like, this is the episode for you.

👉 Reserve Bank of Australia’s cash rate

 

May 6, 2021: Episode 337 | The 4 Pillars of Money Health

This Episode talks about the 7 grades of financial wellbeing, achieving financial abundance, defining TRUE wealth and propsperity, Types of wealth and which type robs you of others.  Active and Passive Investment and a BONUS – Secret to a Cheap Wedding and the FORMULA to be Health, Wealth and Wise!

👉 Money FIT – thepropertycouch.com.au/financialpeace

 

May 13, 2021: Episode 338 | Going Ape S#!t: How To Hack Your Brain To Make More Money – Chat with Phil Slade

We have Behavioural Economist and Psychologist Phil Slade – the author of “Going Ape S#!t”, Founder of Decida and regular contributor to Money Magazine was a guest on this episode. Learn about Behavioral Economics, which part of your brain controls financial decisions and “The Ape Brain”

👉 Phil’s Book – Going Ape S#!t

 

May 20, 2021: Episode 339 | “Man, Can Politicians Spend Money!!” – ft Property Q&A

Let us deep dive on 2021-22 Budget Review!  Ben & Bryce talked about $15.2 Billion Infrastructure spend, Superannuation Downsizer Scheme, the Victoria State Budget & the consequences for property owners and developers. More information on the First Home Saver Scheme, New Home Guarantee, Home Guarantee for Single Parents and so much more.

👉 First Home Loan Deposit Scheme (New Homes) FACT SHEET

👉 Federal Budget 2021-22 Announcement

👉 Victoria State Budget 2021-22 Announcement

 

May 27, 2021: Episode 340 | Auction Ready: How To Win In Any Market! – Chat with Veronica Morgan

Learn strategies Professional Buyers Agents use! Learn more tips (and tricks) on Auctions from our guest and good friend Veronica Morgan Founder and Principal of  Good Deeds Property Buyers, co-host of The Elephant in the Room and also Bryce’s co-host in Location, Location, Location Australia. We are lucky to have her as our guest, one of the BEST Buyers Agent in Australia! Enjoy  👏  👏  👏

👉 Free Report: The 2021-22 Budget Breakdown! Download here or just fill in your details below and we’ll email it to you right away!

👉 Veronica’s Book – Auction Ready — Get 30% Discount & Free Postage with this Promo Code: TPC

 

Free resources: The 2021-22 Budget Breakdown!
Fill in the form below and we’ll send it to your email straight away!


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🎥 P.P.S. Here are some Videos of the TPC GOLD that we’ve done in May. Do check out our Facebook Page for more videos like this. Enjoy! 🙂

 

 

 

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