If you’re reading this, you’re probably keen on property investing — regardless of whether or not you’re a beginner or a multimillion-dollar property portfolio owner… or somewhere in between.
And chances are you also like to have a life too, right? Because folks, at the end of the day, while hard work’s rewarding and a passive income’s exciting, there are also other factors competing for your time and attention, and — let’s face it — other things you’d prefer to do, like put your feet up (and watch the Pies and the Dockers if you’re us), or simply relax with your loved ones doing what YOU love most.
Realistically folks — if you invest in property the right way from the get-go, you shouldn’t have to sacrifice your life. It’s that simple. But it’s not always easy to get this balance right.
So, that’s where today’s VERY SPECIAL episode comes in. Yep, it’s very special because…
- It’s OUR LIVE SHOW IN SYDNEY where we answer our Property Couch Tribe’s questions… which just might be very similar to the ones YOU have!
- It’s a LIVE GUIDE to help you prioritise your property investment journey AND still have a life!!
*** Oh, and folks — make sure you tune in till the end for a special announcement from Ben! ***
Back to today’s questions answered at OUR LIVE SYDNEY PODCAST…
Question about Staying the Distance from Louise:
My single biggest challenge with my property investment journey has been keeping the momentum and not getting distracted or bored along the way. Property investing for the long term seems to sometimes move at a glacial speed and it’s easy to get a bit disheartened when you don’t see obvious progress. It’s also easy to let life get in the way and not prioritise my investment journey. I delayed on a purchase by two years (missing out on some great capital growth) because I was distracted by family and work life.
Question about Location and Investing in Cashflow from Yuna:
Ben and Bryce always talk about how location is the key and that most of the time 80% of the lifting is done by location. If my property investing strategy is cashflow rather than capital growth due to my circumstance; how do I apply the location theory to this equation? Or does location come first or my strategy during the suburb research?
Question about Off the Plan and Exit Strategies from Jeremy:
A ‘friend’ (who may or may not be me…) has purchased an off-the-plan, high-density unit, in Brisbane’s middle ring northern suburbs — 10km from the city. The area has a Westfield, a hospital and a bus line, but isn’t within walking distance from any of the new transport infrastructure projects. The build date has been pushed back from 2018 to 2019, because the developer, who was also the property spruiker, had difficulty getting pre-sales. Since that time I (or my friend) have discovered The Property Couch and have listened to as many back episodes as possible. It’s obvious to us that we can pretty much check off every mistake in the book. The spruiker was selling in Sydney with a focus on bling, tax depreciation and yield. The suburb is not investment grade. The property is not investment grade. Lifestyle drivers are not there. Income is lower than the QLD average. And so on. The unit was sold with a vendor discount: “stamp duty paid,” (yes we know…now), so on settlement is likely to be valued significantly less than the purchase price. With the over-supply situation that exists in Brisbane and Brisbane-North’s very low population growth rate (1%), what, if any, exit strategies exist?
LIVE Question about Knowing When to Stop:
How do you know when to stop investing in property? Because it’s pretty addictive!
LIVE Question about The Budget Changes to Tax Depreciation:
This is a bit more of a specific question, around the latest budget changes around tax depreciation. I have 2 properties that were purchased prior to the changes— so I have depreciation reports, and claiming all that’s all good. But I have bought 1 that settled with the changes the latest budget. I’ve heard on various podcasts about being able to claim the cost of plant and equipment as capital gains at the end if you sell, but I don’t understand the connection between these? Do I need a tax depreciation report for a property purchased after the budget last year to know what I owned when I purchased it to at the end when I sell it?
LIVE Question about Spruikers and Not Knowing How What to Do:
I’ve got a friend who is helping people buy property in Brisbane — they’re friends of ours — and they’re Off the Plan stuff, just terrible stuff really, and he works for a company where they deliberately fence people in, cross-collateralise, deliberately put them to their Buyers Agents who are hooked up with developers, and it gets me a bit angry. I can’t do anything about it because I have no credentials — I’m a Tradie — but I’ve been listening to your podcast for a number of years and I do have a lot of knowledge. Do you have any advice for someone who is witnessing these terrible things happening to people that I care about?
P.S. Want us to come to your city? Let us know what state/territory you live!
(We promise not to stalk you)
P.P.S. Want our industry to be regulated so we can get rid of the spruikers and dodgy investment advice? Join PICA – it’s only $5 for 1 Year Membership!