Subscribe On Itunes
Subscribe On AndroidAlright folks, it’s that time again… you ask, and the boys answer!
After receiving a tabletop full of new topics, we’ve taken our cue this week from an anonymously-sent testimonial.
Turns out an earlier episode of Why You Shouldn’t Invest in Property saved a listener from being “sold a lemon by a spruiker”! Yep. Unfortunately guys, the property spruikers are still out there, so Bryce & Ben will be answering similar questions on the red flags to look out for, like:
- How to sniff out the so called “educators” and get your trust back
- What your next move should be to fix bad property advice
- How 20 minutes stopped 20 years of regret
- What the consequences are with ‘fee for service’ and ‘working for commission’
- Why the right asset selection can flip spruikers on their heads
- What finance in the first two stages of property investing are
- Why negative gearing is really only a moment in time
- How long and how many properties you need in the accumulation phase
- What ‘buying only for cash flow’ is, and its risks and rewards
- Investing in regional areas and factors to consider
- How to spot the difference between a genuine property educator vs a spruiker
and (SUPER TOPICAL)
- Airbnb Investments: Are they worth considering?
This is a goodie, especially for those who don’t want to feel the sting of bad investing!
(For those who want to know the website Ben talks about, it’s PIPA.)
Questions from this episode
Anonymous Listener (as continued from their nightmare situation, which the boys will read out):
“… We have about $200,000 of available equity, but we are now not sure what our borrowing power is as our previous broker was also linked to the spruikers and we don’t trust what they’ve told us. In your opinion, what should our next move be? Ideally we’d like to invest in Melbourne or Sydney but are not sure if it’s the right time to get into these markets.”
Andy:
“Can you guys talk about finance in the first two stages of property investing? How do we go about understanding the numbers e.g. loans, consolidation and what is involved – how everything works with the finance and loans, what to do with the loans from accumulation stages to consideration stages and onwards?”
Jonathan:
“Hi guys. I’ve recently started listening to your podcast and think it’s great. I’ve recently attended a seminar with ‘XYZ’ company, ‘XYZ Education’ they call themselves. Just wanted to know if you had heard anything about them? I understand there are many of these ‘mentors’ out there — those that are ‘fee for service’ and those that work off commission. These guys are the latter. Any thoughts, comments would be greatly appreciated. Thanks in advance.”
Kate:
“What do you think about the idea of buying for cash flow only? I live in Adelaide and there are many areas within 60-90 mins of Adelaide where you can buy quality character properties for less than $250,000. If only earning an average income, and planning to buy and hold for 15-20 years, do you think a larger portfolio of properties like this may be less risky than one or two closer to the CBD, which will have substantial holding costs?”
Eddie:
“Hi. I am an avid listener to your podcasts and I started listening to them since 2015, but I have stopped for a year. I have recently bought another investment unit and have started listening to them again. I am currently at Episode 51 and it is great because I can listen to them nonstop without having to wait for the next one to arrive in my podcast. Great work, I really enjoy your shows.
I have a question regarding Airbnb. I know it is not aligned with your property investing strategy and overall investing mantra. But recently, it has taken the property market by storm and there are many investors who are doing this to become positive cash flow. It is sort of the elephant in the room and there is a lot of talk about it out there, whether it is in high-rise holiday resorts, or brick and mortar family homes. People are doing it. I have recently bought an apartment (yes: high rise, high density, tourist destination, lifts and caretaker) and so far I am cash flow positive, after netting all costs including cleaning, rates and body corporate. I only manage the bookings of the apartment and outsource everything to a cleaner who doubles up as my meet-and-greet host. I also have insurances to cover those times when needed, and I do everything above board.
I would like your views on how your look at Airbnb investment as part of an investment strategy—if it is something that you are interested in discussing. Thanks.”
If you enjoyed this Q&A episode, don’t forget to rate us on iTunes (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://thepropertycouch.com.au/topics/
