We repeat! Do NOT land the plane during a storm!!

What do we mean by this…?

Well, in our minds, changing your investment plans due to changing circumstances is kinda like planning a flight and lifting off the runway…

And then hitting stormy weather.

Should you try and land the plane in the middle of the storm?! 

You’ll have to tune in to the episode to find out what we think!! Since it’s a Q&A of course, we’re flying this plane over looooads more ground like…

  • Advice for a 16-year-old property investor?! (It’s fantastic to hear folks are having money conversations around the dinner table!)   
  • Residential vs commercial capital gains tax: Where do they differ and how can you make more gains without being taxed like crazy!
  • Putting property in a trust… or your name? And what do Ben and Bryce do with their own property portfolios?
  • Plus Ben and Bryce share their top 5 favourite books (well, Bryce sneaks in a 6th one 😉) and why they reckon you should give it a go too!!

Read Ben and Bryce’s book list and the full list of questions below! 👇

So if you’re ready, strap in cos we’ve got something for everyone in this episode!!

Questions We Answer

Bea on Buying in a Trust or Your Own Name 

Hi Guys, it’s Bea here. We have family trust set up and (weaved?) a few of our investment properties in them. We’ve recently gone to a buyer’s agent and they have mentioned that if it was them, they would forget about the family trust and buy in their own names to take advantage of the land tax threshold. Just wondering could you please explain this further.

Anthony on What Advice Would You Give Your Daughter? 

Good day boys, Anthony from Adelaide here.

Well done on the show, you’re doing a cracking job it’s really impressive. I’ve been a longtime listener, first time caller. I went back and listened to episodes 1 to 20 as you suggest; it pretty well captures all the errors of my property investing. Wrong areas: Spruikers. Oh dear, anyway I guess investing is non-linear I’m pretty sure next time I’ll invest with you blokes.

My question is, we are a family who loves property investing, we talk about it all the time, we have our principal place of residence, we own that outright. We have three investment properties, working on our 4th and my daughter would like to get into property. She’s 16 1/2, she’s at school, she’s got a part time job, she’s saved up about 12 grand so far, so in about a year she’ll have 20 grand.

My question is, what would you suggest she buy? And what kind of structure would work? So I guess really, if it was your daughter what advice would you give her?

Thanks boys.

Mark on CGT on Commercial Same as CGT on Residential

Hi Guys! Mark is my name and I live in the Southwest Town Country (WA).

I’ve been listening to your podcast for a couple of years. I haven’t got everything in place although I do have a PPR and two rental properties. One rental property is a fixer upper at the moment which I bought at the start of COVID.

My wife and I have a business and we’ve just purchased a commercial property. I am not sure if this is in your wheelhouse or not but listening to your podcast for the last year, you’ve had people talk about tax and capital gains on residential properties.  Is capital gains when you fit out a commercial property the same?

Do you have to keep all of these records and when you sell your property, does the fit out cost come off or is that totally separate due to the fact that it’s a business as opposed to a building?

Just like your thoughts on that if it’s even in your wheelhouse. Anyways, thanks guys!

Patrick on Circumstances When You Would Change Your Plan

Hi Bryce and Ben.

It’s Patrick here from the Sunshine Coast. I’ve got a question around sticking to your plan vs. changing your plan.

Essentially I would like to know what are some special events that might cause you to change your investment plan or are you always better off sticking to the plan for the long term?

For example, there might be a wide range of things like the property doesn’t grow as much as you would have thought or the yield is lower or there’s damage to the property or the holding cost increased significantly.

I would just love to hear you guys have some discussions around navigating that choice: to either stick to your plan or change your plan when things don’t work out the way you would like. Thanks!

Sophie on Updated Books We Recommend

Hi Ben & Bryce, Sophie here, loyal listener.

I listened to your podcast previously when you mentioned about books that you recommend. We’ve got some holidays coming up and I was hoping that you could give me a bit of a refresher as to what some of the books are that you recommend. Either property-wise or maybe some other you’ve been reading recently. Thanks very much, love the podcast. Bye bye.

Bryce & Ben’s UPDATED Top 5-ish Book Lists:

Bryce’s List:  

Ben’s List:  

Free Stuff Mentioned:

Here’s some of the gold we cover… 

  • 0:38 – An Election & a Footy Match: Two big results in one weekend? (Ben’s very happy with one of them 😉)
  • 1:28 – If you’re a new listener or a seasoned listener, listen to this!
  • 5:44 – Warren Buffett’s wealth was actually built from…
  • 11:05 – Some advice for those thinking of investing now
  • 13:30 – A shoutout to the ladies (we want to hear from YOU!)
  • 14:12 – Q1 – Buying in a Trust or Your Own Name (The Pros)
  • 18:42 – The Cons
  • 20:00 – Let’s clarify; we do not have property in our…?
  • 24:47 – Q2 – What Advice Would You Give Your Daughter?
  • 26:50 – A couple of options…
  • 29:35 – The types + structures we recommend!
  • 34:15 – Q3 – CGT for Commercial Same as CGT For Residential?
  • 37:42 – Breaking it down with an equivalent scenario
  • 39:48 – CGT for Commercial: what’s different?
  • 43:58 – Q4 – Circumstances When You Would Change Your Plan
  • 45:00 – When you SHOULDN’T change plans (doing this will halt your wealth…)
  • 46:58 – Plans should include s___ testing!
  • 47:42 – Should you land the plane during the storm?
  • 48:57 – Your first strategy should be…
  • 50:20 – We don’t usually do this but folks if you need help, check us out!
  • 54:50 – Q5 – Books We’d Recommend!
  • 55:40 – Bryce’s Top 5 books (*he may sneak an extra one in later 😉)
  • 1:00:38 – Ben’s Top 5 books (+ one lecture)

And…