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Episode 197 | Our Embarrassing True Stories: What Was Money Like in Our Own Lives?

Normally personal stories about money stay secret…  up until this episode!

The truth is folks — it’s not really the “done” thing to have a conversation about money, is it? Almost always, there’s this societal expectation to throw money matters — the real truth of your financial situation— off the table and bury it in the overflowing junk drawer.

After all, talking about money is embarrassing, right?

Well… not anymore!!

Today folks, we’re attempting to lead by example — so we’re simply going for it! We’re going to get real and vulnerable and we’re going to share with you OUR OWN that have shaped our relationship and habits with money.

In other words: we’re going to reveal what’s really happened in our life up until now (yep, this includes revealing some childhood influences), which might explain why we’re so obsessed with finance and on a two-man-and-a-couch crusade to help others excel in managing their own money!

So, yep. These stories include the good, the bad and plain embarrassing.

Ready to start the money conversation? But before that…

 

We want to interview YOU on the podcast!

You heard that correctly! We are on the hunt for listeners who have had a “Money Transformation”!

Now, we don’t want to fluff our own pillows or promote our own company or anything remotely like that… we just want to chat with people who have had an honest, real-life transformation so that others can take inspiration from their own story and realise that it’s entirely achievable in their own lives too!

So, if you think you have a story for us, please don’t be shy (we promise to go easy on you and we’ll walk you through the entire podcast experience) — we’d love to hear from you! If you’re interested, send us some details here or simply fill in the form below!

  • (What would you like to be known on the podcast?)
  • A quick summary on your Money Story!
  • Don't spill all the beans! 😉

  • And finally, have you implemented the Money S.M.A.R.T.S?

 

A glimpse into our embarrassing true stories…

 

And make sure you download your FREE CHAPTER of our latest book, Make Money Simple Again for more tips and money management hacks!
FREE CHAPTER of Make Money Simple Again – RRP $29.95 ———- >  Click here to download or just fill in the form below and we’ll email it to you right away!

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Episode 160 | The Power of Vulnerability when Looking for Advice – Chat with Karla

We’re getting real on the Couch today, folks. So if you’re in the mood for some solid learning, serious authenticity and a powerful view into what it’s like to be on the chair opposite us (or any other professional advisor), today is YOUR Day!

Because in this episode we are introducing a very, very special guest (in more ways than one)…. someone who has personally reached out, sat down and met with one of our advisors…. Karla C.

Except Karla…. she didn’t like what we had to say!

Why?

Well, this is where the power of vulnerability comes in………

 

[Two words that come to mind: “Profound change.”]

Full disclosure: We normally avoid mentioning our company, folks….. but we’re huge believers in Karla’s story and its benefit to you is too great for us to hold back! Plus, Karla’s “tell all” is a gift needed for life, not just property investment.

 

Before we unfold the layers of vulnerability though, just a little shout out to those of you WHO LIVE IN SYDNEY & WANT TO WORK WITH US! We’re after experienced Property Investment Advisors, Mortgage Brokers, Financial Planners and, just maybe, Accountants! So if you’re all about helping others, influencing positive and profound change to people’s lives, and the idea of a challenging and rewarding role makes you ticklish with excitement ….. wow us with your resume & cover letter here!

 

You’re going to hear:

 

p.s. Really want to learn more about the service that the guys were chatting about? Click here to learn more about Empower Wealth’s Property Investment Advice services.

 

 

 

Episode 082 | Q&A – Great tenants vs higher rents, Investing in property overseas, Managing leverage and more

It has been 3 weeks since our last Question and Answers episode, so it’s about time for another one! Thank you again for sending in your questions.

For today’s podcast, we will be answering these questions:

  • Question on tenants vs rents from Mark: Is it better to keep a great tenant on a lower rental, than push for a great rental return and gamble with the quality of new tenants (and subsequent vacancy in between.)
  • Question on exit strategy from Tom: Hi, I would like to hear more about exit strategies when time is not on my side. I have just turned 50, with my youngest child in yr 12 and eldest living in eastern states. My principal place of residence (PPOR) is paid off (value $1.1M) and I have 2 investment properties with a combined value of $1m. But an investment loan of $1.2m. The reason for the negative Equity is that I have been capitalising. The investment interest whilst I directed all rental income into paying off my PPOR. So now I need to know what is next. My goal is to retire or work reduced hours in and on a corporate role by age 55. I am presently in a well-paid job paying about $220k and have about $270k in super, which I am contributing up to the max.$35k pa. I can’t get my headspace around what to do next. any suggestions would be appreciated.
  • Question on investing in property overseas from Sean: Would be great to hear your thoughts about investing in property overseas as part of a portfolio, particularly NZ. There’s some “wave rider” type activity gaining momentum around Auckland, which has become a heated market it seems.
  • Question on career in property investing:Hi Ben & Bryce, Firstly I would like to say you guys are doing an awesome job with the podcast. Have been listening from the start and as a born and bread Victorian now living in NSW I love the footy talk!!!!I would also like to congratulate you on your book “The Armchair Guide to Property Investing“. I will be handing it out to numerous friends and family as I believe it is gold when starting out and not knowing which direction to go.So some background on my situation. I started educating myself 2 years ago with every property podcasts/book I could find and now believe I have the foundations for property investing going forward with the right team around me (coach, broker, accountant, solicitor & acquisitions team).We moved to the Hunter Valley to set ourselves up to give us more “choices” in the future. I am currently on a high income of $140k as a coal miner but to be honest, my heart isn’t in it anymore and I don’t enjoy my work (except the pay each fortnight).The reason for reaching out to you guys is because we currently have a 3 year plan (possibly shorter) to move back to the Geelong area to be closer to our family and also closer to Melbourne because we live and breathe AFL. By then we plan to have 2-3 good capital growth properties in our portfolio in major cities utilising the high income (currently in process of acquiring property in Brisbane as I write this email).By the end of 2016 my goal is to complete a Diploma of Finance and Mortgage Broking Management because I believe that everything revolves around finance in creating wealth through property. I am also working towards 1-2 weeks work experience with my property acquisitions team to see how everything operates on the ground.

    My question to you guys is what else would you recommend I do over the next few years in preparation to help transition into the property investing line of work (educating others to create wealth or something down that path).

     

  • Question on paying down debt or invest from Ian: Good afternoon gents, thank you for sharing your wisdom. I’m 40/67 episodes so far and still loving the insight. A question for your podcast: Getting rid of debt 1st vs investing 1st: As a health practitioner with approximately 5K of discretionary income/month would you recommend chipping away at approximately $35K of bad debt mixed between high and low interest accounts and then seeking professional aid such as yours to become a 1st time rentvestor or seek out assistance and attempt to send that bad debit into some sort of mortgage? Love your work and your banter.
  • Question on Property Investment Advisor or Buyers Agent first from Paul: Hey Guys, Love the podcasts and your book. Great help for us newbs. I have just started my journey into the world of property investing. After listening to you guys plus reading your book I have taken my first step and started meeting with mortgage brokers to get an understanding of where I stand financially. One of the brokers I meet with was from your team at Empower Wealth. He was great and very professional. My question to you guys is once I have my finances ready to go do I need to be looking to meet with a property adviser or a buyers agent next? Your advice on this would be great. Keep up the great work!

 

If you like this Q&A episode (Good tenants vs higher rents, Investing in property overseas, Managing leverage and more), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 81 | Does investing for the long term actually matter? – Chat with Stuart Wemyss

For today’s podcast, we have Stuart Wemyss, owner and Director of ProSolution Private Clients joining us to talk about his property investment journey and his investing philosophies. Coming from an Accounting and Finance background and with more than 19 years of experience in the investment services, Stuart is also a PIPA Member and has authored two books; Smart Borrower’s Handbook and The Property Puzzle.

So for today’s episode, the three of them will be talking about:

  • When did he buy his first property and how did he start investing in property
  • What are the lessons he learned when building his property portfolio
  • Why does investing for the long-term matter and the mindset needed for this approach
  • In his role as a mortgage broker and finance specialist, what are the common mistakes he has seen over the years
  • What are his tips for listeners when they are choosing an investment advisor
  • Two questions you need to know the answer for before prior to building an investment portfolio
  • What he thinks about commission-based financial advice

 

[alert]Don’t forget to download the Property Investor Sentiment Survey 2016 Report! – Download here[/alert]

 

And if you are interested to learn more about Stuart’s books, here are some reference points:

  • Smart Borrower’s Handbook | An Essential Guide for Property, Sharemarket and Superannuation Investors – Buy here
  • The Property Puzzle | A Simple Guide for Property Investors on How to Develop a Safe Financial Plan – Buy here

 

 

If you like this podcast: “Does Investing for the long term actually matter? – Chat with Stuart Wemyss”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 056 | Q&A – Exiting a contract, crowdfunding, what’s the impact of global events on Australia Property Market and more

It’s Q&A time! This week on The Property Couch, Bryce Holdaway and Ben Kingsley will be answering the questions below from our fellow listeners. Thanks again for submitting your questions!

  • Exiting a contract question from Alex: Hi, Just looking for some advice as the more I listen to the podcast (and read your book), the more I think my first IP buy could be better. I’m currently on a defacto visa so can’t buy anything but new properties which led me to an off the plan development in Brisbane. While its marketed very well and made out to be a great buy, it goes against all you talk about- high rise, buying through a unqualified salesman, no room to improve, rental guarantee, and high strata. At the time it looked good but the more I understand what makes a good investment, the more I think I could do with the $40k deposit I put down. My question is, is there any way out of the contract that won’t cost me? It’s not due to be built for another 2 years so wondering if I could ask the developer to renege on the contract without penalty or even onsell it for cost price. I’ve started putting away some cash every week just in case it comes in undervalue but would rather not be in the position of ‘hoping’ this doesn’t happen. Would appreciate any advice to help!
  • Crowdfunding questions from Carol: I have heard people talking about “crowdfunding” being the next property investment strategy. What is “crowdfunding” and how will it work?
  • Ownership questions from Rob: What property ownership structure should investors use when buying an investment property? Individual, trust, company etc. Is there a need to balance tax advantages with long term asset protection on this issue?
  • Global events question from Cookie: I have an economy/finance related question and would like to hear your discussion on it. As we step into 2017, the market has been flooded with negative sentiment news. Lots of countries are under the water as oil and other commodity price plummet. China economy slowdown and share and currency tumbled. In the middle-east you have ISIS terrorist and European country have migration crisis. The central federal government around the world response to the crisis with more and more quantitative easing money printing. I feel like 2008 all over again and this time the crisis is on a global scale.The question I want to raise here is what will happen to the property market and banking policies if the crisis come in the near future? Few friend of mine thinking that the property price will go down like during the great depression. Am I best to wait until the crisis come and then purchase undervalued asset? But if there is a crisis and bank run, will interest rate raise to double digit and banks tighten the lending? What happen to my home loan if there is a bank fail? European central bank is doing negative interest rate already, will Australia heading to this direction one day? How should I position myself now so to be prepare for the day to come?
  • Case study question from Chris: Brief Bio – 33 yrs old. married with one child, live in Sydney, workfull time. have three properties. two in Townsville (both rented) building one in Melbourne currently. Currently renting in Sydney as units where we want to live sell for $800 k to $1 million. However we can rent and invest. We put all our money into our offset and pay out the credit card at the end of statement period. We also have a full functioningPAYG withholding variation in place.
    • Question 1 – with the house I am building in Melbourne. Will I ever be able to claim back the GST I have paid in the build contract?
    • Question 2 – With one of my properties in Townsville I am concerned that our body corporate fees are way to high. We pay over $5k pa for fees. No lift, no pool in complex and it is a three story masonry construct building. How do I compare if this is the going rate in our market?

 

References:

 

If you like this Q&A episode (Exiting a contract, crowdfunding, what’s the impact of global events on Australia Property Market and more), don’t forget to rate us at our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

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