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359 | Locked Down & Locked Out: Buying Property In A Shutdown State! – Chat with Leah Calnan

By in Podcast, Real Estate Agent

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Is property sliding under the pressure of continual lockdowns?!

Folks, it’s no surprise that Victoria’s extended lockdowns (and indeed lockdowns happening right across the country) are having unintended consequences to property buyers, sellers AND renters.

With Melbourne spending more days in lockdown than ANYWHERE else in the world, it begs the question: How can you buy property in a Shutdown State?!

Here to unpack all this, as well as the Winners & Losers of legislation changes, is returning guest Leah Calnan, President of Real Estate Institute of Victoria (REIV). Leah has served as REIV President since October 2019 and during this time has seen SIGNIFICANT disruptions and changes to the Victorian property market and Tenancy Act. She has over 24 years’ experience in property management, is the sole Director of Metro Property Management and, of course, is considered one of the industry’s most dedicated, accomplished and senior Property Management practitioners in the country.

Leah is about to give you a behind the scenes look at the stark reality of a property market Locked Down & Locked Out, including the tangible impact this has on property investors, in conjunction with the “VCAT Mess” that’s currently unfolding here in Victoria.

So, is it all doom and gloom? Is it simply Too Much For Too Long for Victorian investors? Is “The Great VIC Exit” fast-approaching?!

Listen now to learn How To Buy Property in a Shutdown State & stay informed of the impact current lockdowns are having on the broader property market.

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 02:13 – FYI: The dark spot on Ben’s forehead…
  • 04:46 – What do you think about this Mindset Minute?!
  • 06:50 – Meet Leah.
  • 07:32 – The Controversial Question we just had to ask!
  • 10:09 – Leah’s first property & money management story…
  • 16:08 – Money Advice for teenagers!
  • 17:14 – Some of the ‘highlights’ as REIV President…
  • 19:15 – Winners & Losers: Legislation Changes!
  • 20:01 – Will these Unintended Consequences further drive investors out of Vic?
  • 21:43 – Which legislation would Leah most like to repeal?!
  • 23:33 – The VCAT MESS!!
  • 26:16 – Have landlords cracked down on the type of tenant they get?
  • 27:42 – Has the legislation change lead to longer first term tenancies?
  • 29:00 – Locked Down & Locked Out!
  • 31:13 – One of the biggest challenges with Victorian lockdowns…
  • 34:09 – What HAS opened up again for buyers?
  • 38:32 – How agents keep potential buyers safe…
  • 40:16 – Can you inspect properties in regional Vic if you live in Melbourne?
  • 42:12 – Is there a “Super Saturday” coming between now and Christmas?
  • 45:53 – The Best Property Management Tips!
  • 48:30 – Why You Should NOT Self-Manage Your Property!
  • 53:28 – How to measure your wealth!
  • 55:25 – What’s Making Property News!?!
  • 55:38 The Scalpel Has Landed: Macroprudential Change Is HERE!

 

 

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

By in Podcast, Real Estate Agent

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

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

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

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

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

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

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

 

Free Stuff Mentioned

 

Here’s What We Cover…

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

 

 

357 | How To Master Relationships With Real Estate Agents – Chat with Todd Sloan

By in Podcast, Real Estate Agent

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Have you ever wondered what to say to a real estate agent to INCREASE your likelihood of being the winning buyer?

If you want to know how to get a real estate agent on your side and navigate the delicate dance between buyer and seller, then this is an episode you don’t wanna miss, folks!

Today we are interviewing Todd Sloan, an award-winning real estate sales agent and professional renovator who has been involved in more transactions every month than what most folks see in a life time. He is the host of Pizza & Property podcast, the author of Australia’s Home Buying Guide – How to buy a property faster and for less.

And Todd is about to reveal how you can master relationships with a real estate agent so you are front of mind (without giving away all your cards) and much more likely to secure the property!

You’ll get plenty of practical tips like What to say and What NEVER to say and, ultimately, an insider framework to get a return on relationship and seal the deal.

Plus, Todd also has a unique and useful perspective on selling investment properties and renovating them for profit, which could be up your alley if you’re interested in manufacturing equity and active investing.

So, are you in?

Listen now to get the gold on how to master your relationships with real estate agents!

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 00:41 – The last weekend in September…
  • 02:42 – New PICA Webinar Announced!
  • 03:52 – Do you agree with this Mindset Minute?!
  • 05:45 – Meet Todd…
  • 08:10 – Learning To Save vs Learning To Invest
  • 09:34 – The Big Inhibitors of Investing in Property
  • 10:08 – Todd’s first investment property….
  • 10:30 – What made him realise it wasn’t the best investment?
  • 11:38 – The Accident That Changed Everything!
  • 12:50 – But then… The BIG Turning Point!
  • 13:40 – The $62,000 House…
  • 14:46 – The First Renovation Project
  • 16:32 – Investing in regional at a much lower price point
  • 21:20 – How to safeguard yourself from “What if I don’t know what I’m doing?!”
  • 23:18 – The pivot to being a real estate agent!
  • 24:55 – WHY should investors care about building relationships with real estate agents?
  • 27:09 – What buyers need to do in a hot seller’s market!
  • 28:37 – What’s a real estate agent always looking for?
  • 29:43 – Always Remember THIS!!!!!!!!
  • 30:05 – The best practical tip to master a relationship!
  • 31:30 – Why Buying Property Is NOT A Ride….
  • 32:34 – How real estate agents get paid
  • 33:18 – Make It Easy To Be ___!
  • 34:05 – HOW can you quickly build genuine rapport?!
  • 38:38 – What should you say to a real estate agent?
  • 40:15 – HOT TIP: How can you show your interest WITHOUT giving away all your cards!?!
  • 43:15 – What to do if you’re dealing with a volume agent…
  • 47:17 – Find The __ ___!!!
  • 48:28 – Renovation tips from Todd!
  • 50:13 – Should you be a borderless investor
  • 55:00 – The four-letter F word!
  • 56:04 – Life Hack: What to do with your bonus!

And…

  • 59:45 – WMPN: The transactional numbers!

 

 

256 | From Gold Mine To Fool’s Gold: How This Property Investor Nearly Lost It All During The WA Mining Boom! – Chat with Rick Hockey

By in Podcast, Real Estate Agent

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Some investors learn things the hard way. And today’s guest Rick Hockey — property investor AND real estate agent specialising in The Pilbara region in far north Western Australia — is, unfortunately, one of these folks.

In this episode you’re about to get a completely raw look at what it was like to be INSIDE the mining boom that hung a lot of property investor’s out to dry. And you’re going to hear it from someone who was right in the thick of it, and did TWO things during this time…

(1) INVESTED in the WA property boom, and

(2) SOLD REAL ESTATE before, during and after the boom!

Here’s the story… back in 1980, Rick Hockey and his wife Bev made Port Hedland, a dusty but dynamic little town exporting some seriously big volumes of minerals all over the world… their home. And things were good. Really good, actually. Especially when Rick made the shift to working in real estate and then the mining scene boomed to deliver some of the highest rental returns we’ve ever seen — and people from all walks of life were practically climbing over each other to call a basic 4 bedroom house in regional Western Australia theirs. And why was everyone keen to jump in? Well, that simple property in the middle of not-a-whole-lot would put $3,000 PER WEEK in their bank!

And Rick, like many of the locals, invested in these properties too. Lots of them. And life was passive cashflow rolling in (literally hundreds and hundreds of thousands each year), selling million dollar houses, releasing equity and buying again, and again, and again. Everyone thought the mining boom, and these crazy returns would never end.

But then the huge orange trucks stopped turning up. And almost overnight, it seemed all of the tradies with their fat wallets did too. The price of iron ore plummeted. And, just like that, everything changed…

 

ABOUT RICK HOCKEY

Rick Hockey is an award winning real estate agent specialising in The Pilbara region in north Western Australia — Port Hedland, South Headland and the Marble Bar area. He’s a Senior Sales Consultant at Hedland First National and has a THREE DECADE connection with Hedland’s property market.  As a proven real estate consultant, he has developed from Rookie to Diamond Achiever and a Top Salesperson with more than 50 industry awards to date. Rick and his wife Bev made Port Hedland home in 1980 loving the opportunities, lifestyle and raising their 3 children there.

 

THE “YOU CAN’T MISS THIS” MOMENTS

  • 09:00 – How did Rick pivot into property?
  • 11:53 – When did he start investing?
  • 15:20 – The Property Spruikers
  • 17:40 – What did he friend say that hinted at what was to come?
  • 18:30 – What was it like to SELL property during the mining boom?
  • 20:46 – How did they value property during the boom?
  • 23:20 – When the peak starts dropping…
  • 28:02 – Being a real estate agent during the bust
  • 30:50 – How many properties did Rick own & WHEN did he deciding to sell?
  • 35:50 – What was the price of property PRE-boom?
  • 36:56 – What was the of property DURING the boom?
  • 37:36 – What was the price like POST-boom?
  • 46:33 – Now that the market’s recovering, is it time to invest now?
  • 51:36 – Who should invest in mining towns?

 

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145 | 8 Reasons Why Vendors Sell Before Auction

By in Podcast, Real Estate Agent

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Now… it’s Framework Time!! The last framework that we’ve unpacked was Episode 137 on Tips for Buying in Spring so we think we are a little overdue for another one.

The topic that we’ll be chatting about today doesn’t happen all the time, of course, but it does happen: Vendors sell BEFORE they go to auction.

Have you ever wondered why??

Today, we’re exploring some of the main reasons explaining an early sell in this situation. Because if you’re selling (side note: hopefully you’ve received professional advice about this), it pays to know which tactics could be lurking around the corner for you. Of course, if you’re interested in buying property, it saves to know how to negotiate a win before the bidding has had a chance to begin!

 

So, is selling before auction as clear-cut as we might think?

Yep, today we’re digging into the heart of it:

 

P.S. Folks, we’re doing Movember this month! If you would like to support the cause that helps tackle the serious issues affecting men’s health, feel free to donate here. (Bucket loads of good karma awaits you.)

P.S.S. Want more info on PICA? Head to www.pica.asn.au

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