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Episode 388 | Why do people sell off-market properties?! – Q&A

Folks we have received one of the greatest compliments bestowed upon us in this episode… 

We have been called… 

THE NETFLIX FOR PROPERTY INVESTORS! 

And folks that has absolutely made our day! Thank you, Andrew!!  

But we’re guessing if you’re here, you haven’t just come to hear us celebrate our new title. 😉 

You’ve probably been like us and Jordy – who asked the question – and wondered “Why do people sell off-market properties??” 

And we’re so excited to dive into this because honestly, we think the answer is going to surprise you!  

We’ve also got a fantastic line-up of questions for this week’s Q&A episode, like… 

  • How do you actually put the big rocks in the jar first?! In this case, our question-asker Clancy is having to choose between buying an investment property or home first… 
  • Is it possible to have a multi-purpose investment that actually works??
  • How can question-asker Demi allay her family’s concerns over her investing in her third property within a year?

Listen in now folks, we’re streaming tons of audio gold (Since – you know – we’re the Netflix of property investors 😉)  

 

Free Stuff Mentioned… 

 

Questions We Answer…

Jordy on Why People Sell Off Market Properties  

“Hey Bryce and Ben, 

How you guys going? 

Just had a question around off market opportunities. You hear that there are so many off market opportunities out there that they actually make up nearly more than listed properties. 

I’m just wondering why there would be so many real estate agents who are working on the seller’s behalf wouldn’t want to take it to market to get as much competition and try and get the best price.  

Obviously, there’s times when someone might want a quick sale, but outside of that it just seems kind of just goes against logic, so if you guys could have a discussion about that. Thank you.”  

 

Clancy on Putting the Big Rocks in the Jar  

“Hey property couch guys, 

Long-time listener here. I’ve got a question for you around putting the big rocks in the jar and just having a better understanding of what that means. 

Our current position is me and my partner own a unit on the Northern beaches in Sydney approximately worth 1.4 something, with around 400 and something in equity in that property. 

Over the next sort of five years, we want to move into a house. It’s also in the northern beaches and we also want to start our investment journey in terms of buying investment property. Question is what should we do first? 

Should we have our next goal be behind the house or the next goal be behind the investment property? Everyone in the family says we’d be crazy to buy an investment property first. 

It kind of makes sense to me that that would be the next option. I’d really appreciate your guy’s insight and maybe help me understand what putting the big rocks in the jar means I know that’s an important concept, but I’m just not quite there conceptually, thanks.” 

 

Andrew Kringas on Lifestyle Property purchases 

G’day Ben and Bryce.  

Big shout out to you guys and the podcast. I kind of refer to this as the Netflix for property investors. 

Like a lot of your listeners, I got into you a couple of months ago and have not been able to stop going through all the episodes. Obviously starting up from the beginning and then ended up coming to some of your newer ones.  

My question is really in relation to lifestyle property that you referred to and there has been obviously a really big surge in the past two years of people buying properties in regional, Victorian coastal areas, and looking at using it as a holiday destination for themselves, but also seeing how they can make some substantial rents during peak holiday periods and also use the opportunity to let family use it. 

 Just wondering what your take is on this and with the pending interest rate rises, is it something that you guys look at or do you steer away from it? Similar to high rise apartments. Would be really happy to hear your thoughts, thanks. 

 

Demi on Advice to family after 4 properties 

“Hey Bryce and Benji.  

My question is around family, so my family been watching me. We’re about to purchase our third property in a year, so we have 4 all up. I’m only 25 and my family will get very nervous about it. I have buffers. I have everything. What would you say to them to make them not stress out? 

Thank you.”  

  

Here’s some of the gold we cover… 

  • 2:05 – Focus more on the H___ than the G___! Let us know what yours are… 
  • 4:34 – Question 1: Why People Sell Off Market Properties  
  • 9:00 – Remember folks, just because it’s off-market doesn’t mean… 
  • 11:05 – Real Estate Agents are influenced by E____ too! 
  • 12:24 – Don’t fall for the THIS myth 
  • 16:12 – Question 2: How to put the big rocks in the jar first 
  • 17:48 – It’s a relatively easy decision if you take out… 
  • 19:35 – What we would recommend! 
  • 23:52 – Question 3: Lifestyle Property purchases (Netflix for property investors?! We are HONOURED mate!)  
  • 25:20 – Can you have a multi-purpose investment? (and Ben’s predictions for the regional exodus trend!)  
  • 28:23 – Will the Lifestyle Property Purchase trend continue? 
  • 33:36 – Question 4: Allaying family concerns over investing 
  • 35:24 – Why you should test your buffers…  
  • 38:18 – “Be a student of history!”  
  • 42:10 – Folks, remember there is no “right” way to invest… 

And… 

 

Episode 385 | THE GREAT AUSTRALIAN DREAM – How to make it more affordable?

Ahh yes, The Great Australian Dream. 🇦🇺☀️🏖️

Great beaches just a stone’s throw away, endless sunny days and the ability to own a large house on a quarter-acre block of land (With enough space to invite all your mates down for a barbeque on the weekend!)…

But while this dream has survived over the years, its accessibility is another thing entirely. 

And it has not gone unnoticed!  

A recent 2022 inquiry published by the Standing Committee on Tax and Revenue addresses this very issue… 

Titled The Australian Dream: Inquiry into housing affordability and supply in Australia, it provides a list of suggestions on…

How to make The Great Australian Dream MORE affordable!! 

 And today, we’re unpacking all 16 recommendations from this report!!  

There’s all the good stuff, like…. 

How can the Federal AND State Government play a bigger role in supporting those in need?!  

Is removing stamp duty actually a good idea?!  

 What policy is a good policy for land and house taxes?  

We’re also getting some blasts from the past as we look back at Australia’s history to inform us where our future should go…  

Like what the Menzie Government did to increase house ownership post World War 2…   

PLUS, see the image below to understand Ben’s section in “What’s Making Property News?” this week.  

Source: Seven News

(It’s one of those stories which prove EXACTLY why you should hold out for the long-term!)  

So strap in folks, we’re taking a hard look at our current property market and what NEEDS to change!!  

Free Stuff Mentioned 

Here’s some of the gold we cover… 

  • 1:50 – Grow silently, folks!  
  • 6:35 – How was The Great Australian Dream was born?  
  • 8:39 – Is Australia able to provide affordable stock anymore?  
  • 12:16 – #1: Changing the NIMBY-ism mindset 
  • 15:42 – #2: Cutting the Red Tape  
  • 20: 51 – #3: Cash incentives for state and local governments  
  • 23:45 – #4: More housing for the vulnerable  
  • 28:47 – #5: What can State Govs do to support those in need?  
  • 31:16 – #6: Discount-to-market vs. rent-to-own affordable housing 
  • 31:50 – What the Menzie Gov did to boost H___ O_____… 
  • 34:44 – #7: Using Super as…house security?!  
  • 39:23 – Ben has a controversial opinion on this!  
  • 40:28 – #8: No changes to N____ G___?!  
  • 43:09 – #9: The Argument for Removing Stamp Duty  
  • 46:00 – #10: Hello…Land Tax?!  
  • 46:39 – #11: The Government Sting on Developers  
  • 50:32 – #12: Reviewing the Build to Rent policy  
  • 53:10 – #13: Changing Lending standards 
  • 55:10 – #14: The RBA’s role in housing (And if that should change!)  
  • 56:40 – #15: This one’s a no brainer, a big “YES!” from us  
  • 57:14 – #16: Support the concessional loans!  
  • 59:28 – What Labor thinks of this report… 

And… 

 

Episode 384 | Budget Wrap – Your Questions Answered!

Yep. You guessed it. This week’s topic is all about…

The 2022-23 Federal Budget!!  

And today, we’re unpacking what’s in it, who the winners and losers are, and answering your burning questions about the Budget!

We’re looking at:  

(We’ve got two really great questions about this at the end of the podcast, so stick around till then!!)  

PLUS, we’re unpacking interest rates and inflation! Ensuring generational wealth! Rising cost of living! Wage growth!!

If you can’t tell folks, this one’s PACKED to the brim with information and we’re very excited to be diving into it today.  

Tune in right now for the gold!  

P.S Thank you to all our listeners for these fantastic questions – it’s been fun picking our brains.  

Got more questions? Send them to us through our Speak Pipe (Click the tab on the bottom right side of our website)  

P.P.S Questions are listed further below👇 Enjoy! 

 

Free Stuff Mentioned 

 

Here are the Questions We Answer…

Luke on Regional areas 

“What areas are considered regional?”  

Char Williams on the Expansion of the Home Guarantee Scheme for First Home Buyers 

“Does the federal budget help property investors? Also, will the expansion of the home guarantee scheme for first home buyers just continue to increase house prices due to lack of stock?”  

Dan Coletti on If Budget will help Cost of Living 

“Hey Benji and Big Brice 🤭,

Would a question here trigger a start and build course voucher 🤷🏼‍♂️🙋🏼‍♂️🙏😉?

So here goes- will these budget commitments to “help” in the cost of living, drive a false economy and therefore enacting a potential for a premature interest rate rise and amount.”

shaunjb_ on RBA Interest Rates  

“Could we expect the RBA to respond by increasing rates earlier than anticipated due to some of these announcements?”

Positive.jules on Consequences of Government Backed Schemes

“Thoughts on the potential consequences of these government backed schemes that could push first home buyers into a negative equity. A position I imagine at current times isn’t even seen as a risk to many getting into the market with low deposits and assumed continuous growth as seen in the hot market.

Love ya work boys and GO PIES! #piesflag2022 #believe”

Luke Keegan on Creating Generational Wealth  

“What can i do now to ensure my young children (1 & 3) will be able to have a home in adulthood?”  

Brendan Mutsaers on the Impacts of the 5% Government loan 

“Will all the backing of government with 5% loan or less lead to poor quality borrowers and higher defaults? Thinking seeds of sub-prime loans.” 

Danielle Shacklock in response to Brendan Mutsaers’ Question:  

“I got a 5% loan as a single mum. Brought a new SUV, all new furniture, invest in shares for my kids invest in my super and have paid 10% of my home off in under 12 months. Onto the next. I put extra into my home loan and brought smart. 

I am wanting a holiday home next. I don’t think all 5% loans are set for failure. If I default on my home with the rental crisis I risk homelessness as there’s no rentals available anywhere ever. 

I’ve already been in 12 

Months and have now kept my stamp duty waiver. 

Just because people secure these loans doesn’t automatically mean they can’t manage money. The onus is back on the person lending not the lenders. 

Interesting question.”  

 

Here’s some of the gold we cover… 

  • 3:00 – What Ben and Antonia Mercorella’s covered in their recent PICA Webinar 
  • 5:57 – Are you avoiding taking real action?  
  • 7:52 – How Australia is faring after coming out of COVID-19… 
  • 13:40 – The Budget Headlines (Who are the winners and losers) 
  • 26:55 – The Winners in Property: The 3 homeowner guarantees and housing affordability  
  • 32:10 – Refreshing stock in the bush 
  • 35:00 – Insurance and fire and flood support 
  • 37:30 – A boost in the infrastructure and tourism industries
  • 40:15 – The Losers in Property: Why our S___ should be paying for build to rent programs!  
  • 41:42 – Q1: What areas are considered regional?  
  • 42:59 – Q2: The Expansion of the Home Guarantee Scheme  
  • 45:54 – Q3: Will the Budget help Cost of Living?  
  • 49:50 – Q4: RBA and Interest Rates 
  • 52:30 – Q5: Consequences of Government Backed Schemes 
  • 54:21 – Q6: Creating Generational Wealth 
  • 56:25 – Q7: Impacts of the 5% Government loan 

And… 

  • 1:01:53 – We love the Live Text!  
  • 1:04:02 – Top #10 suburbs threatened by….C____ E____! 

 

Episode 383 | How to create the optimal mindset for investing – Q&A

Let’s face it…  

Money is an emotional asset folks. Especially when you realise, you’ll never have “perfect” knowledge before investing… 

But we think that shouldn’t stop people from investing!  

In fact, we think it’s something that everyone should be okay with, especially if you’ve covered your bases! That’s why in today’s episode we’re uncovering:  

  • What these bases are… 
  • How to control your emotions around money… 
  • Why people fall into an analysis paralysis… 
  • And ultimately how you can create the optimal mindset for investing!  

But that’s not all – of course – it’s Q&A DAY!! (Woohooo!)   

We’re talking all things Buyers Agents: When and why you should stick with your current agent, the difference between specialist and regular Buyers Agents… 

PLUS, we’re unpacking the upcoming generational wealth transfer that will flow from Baby Boomers… 

And explaining key factors you should understand, or have in place, BEFORE deciding to upgrade houses.     

These questions provide some great case studies, with one proving why buying properties from other family members may not actually be the best solution for everyone!   

Questions are listed further below 👇. Enjoy!  

 

Free Stuff Mentioned 

 

Here’s the questions we answer… 

Jay Sanderson on Low Stock for Properties 

“I have only just started my investment property journey and have acquired one passively geared property which I’m about to develop further. 

My current buyers advocate is trying to find additional properties for me to purchase and I have the funds approved but he is telling me that inventory is short at present. 

What would be your advice here, look for properties myself or speak to additional buyers advocates?”  

 

Leino on Buying Off-Market From Mum  

 “Hey guys, I just started listening to your podcast and have listened to the first 70 episodes in just over two weeks. I have also listened to a few of the latest ones and now have the ‘property bug’. 

Our situation – currently we have a PPR in Townsville in a nice area, which has seen some growth and we have a good amount of equity at the time of writing this. 

My wife and I have a good, combined income and a very good yearly surplus from which I want to start purchasing a few other properties. 

I recently spoke to my mother who owns two properties out right in the sunshine coast (specifically Mooloolah Valley) where the median house prices have skyrocketed. Both houses are on very large blocks (one is a hectare the other is 1 1/2 acres). 

My brother is currently renting one of them for fairly cheap and may stay for a few more years. Due to my mum’s financial circumstances, they did mention maybe selling the larger block as their super is dwindling away and they are just over the cap for a pension. 

 My question is: Would it be worth buying the property from them at possibly 200-300k under median value, with an interest only loan and servicing the debt until my brother moves out at which time, we could increase the rent to a larger amount and move towards positive gearing? 

If we buy privately off them well below median, we will start off with a massive amount of equity, and though it does have great owner occupier appeal, it probably doesn’t tick off every investment property feature that everyone talks about. 

I’m currently 40 years old and wish to retire around 60. Ideally, we would like to knock down the house and rebuild our forever home (on the block) down the track if we were to buy it. 

I acknowledge you don’t have all the info required, but if you could provide some tips or things to consider, that would be greatly appreciated. 

Sorry if something similar has been answered before. 

[PS I have booked in to speak with your team, but it isn’t for a little while due to availability]. 

Kind regards, 

Leino”  

 

Andrew on Upgrading or Buying Another House 

“Hi, we are a small family with 2 kids, and we own one property which has paid off all mortgage. 

We just wonder should we sell this property to upgrade to premium house or keep the house and buy another house to live. 

We make 130k after tax, so not sure we should focus on cash flow or captain gain property.” 

 

Winslow Tam on Optimal Mindset  

“Hi Ben, 

Hope you had a great weekend. 

Here is my question… 

Considering that investing can [be] taken quite seriously by some people, what is the optimum state of mind that individuals need to have when performing their best as an investor? 

I’m referring to things such as motivation, mindset, emotional, etc. 

I understand that investing is for the long term – somewhat like a marathon instead of a 100m sprint.  

What are some of the things that investors should do to get their state of mind prepared for investing? 

It would be great to hear your thoughts. Look forward to hearing from you. 

Regards, 

Win.” 

 

Here’s some of the gold we cover… 

  • 2:16 – Make sure you sign up for Ben and (previous podcast guest) Antonia Mercorella’s PICA Webinar on Queensland’s housing market!  
  • 4:25 – Folks, do THIS to have a great relationship  
  • 7:52 – Leave us a question here! (Did we mention you could win a FREE Start & Build course?!) 
  • 9:00 – Question 1: Low Stock for Properties 
  • 9:55 – When and why you should back your Buyers Agents  
  • 11:06 – Where should you buy when there is low property stock? 
  • 13:28 – You CAN ask your Buyers Agent these things… 
  • 18:23 – The difference between regular Buyers Agents and specialist Buyers Agents 
  • 21:33 – Question 2: Buying Off-Market From Mum 
  • 23:42 – Why we think there’s more opportunity for your mum…. 
  • 27:26 – What’s best for Leino and his brother?  
  • 30:33 – Dealing with the generational wealth transfer  
  • 37:26 – Question 3: Upgrading or Buying Another House 
  • 37:53 – The reason you should know your priorities  
  • 40:07 – How to make the invisible visible  
  • 41:45 – Folks, it comes down to ____ cost or _____ cost  
  • 44:35 – We’ve found most people choose… 
  • 47:36 – Why having a finance strategy is important BEFORE you decide!  
  • 49:08 – Question 4: Optimal Mindset 
  • 49:52 – Please accept this fact folks… 
  • 50:55 – How to create the optimal investor mindset  
  • 52:42 – Why people fall into analysis paralysis…  
  • 56:12 – Be a farmer, not a hunter!!  
  • 57:47 – Practices to control your emotions around investing!  

And… 

 

Episode 382 | “Property Investors are Tired of Being the ATMs for the State!” – Chat with Antonia Mercorella

Queensland has been through A LOT folks.  

With the 2022 floods estimated to cost $2.5B in damage and more than 5,000 homes inhabitable, in the words of today’s podcast guest Antonia Mercorella: 

“We are facing a humanitarian crisis in Queensland”  

 Together, we’ll be unpacking the housing crisis that Queenslanders are waking up to every day, how this added demand will impact the states ALREADY struggling rental system… 

AND how REIQ and Q Shelter’s “Help House a Queenslander” campaign can help with the ongoing housing crisis! 

And if the name Antonia Mercorella sounds familiar to you – we’re proud to say it’s because she’s a returning guest from Episode 280!!  

Antonia is not only the Chief Executive Officer at the Real Estate Institute of Queensland (REIQ), but she’s an accomplished CEO and solicitor with more than 20 years of experience across the real estate and property sectors!  

But don’t get us wrong – when we say Queensland’s been through a lot, it’s not all bad!  

We’ll be unpacking it from the top, starting with the pandemic when Brisbane’s property market was HOT, and exploring what lifestyle drivers push people to move interstate!  

And let’s just say that Antonia makes a very convincing case to move to the Sunshine State 😉 (Hey, we’re halfway to packing our bags). 

We’ll also be looking at the State Government’s announcement to potentially introduce land taxes and why it’s a terrible idea!!!  

So if you’re interested in what this all means for the future of Queensland’s property market (and the wider Australian market), tune in now!!  

Free Stuff Mentioned

 

Here’s what we cover…

  • 2:18 – Life is all about choices folks!
  • 3:24 – A quick update on what we’re watching… 
  • 7:10 – Welcome back Antonia!!  
  • 8:23 – Antonia’s money story: From immigrants to property investors
  • 12:40 – The Italian culture and its impact on money values  
  • 20:45 – Why is Queensland’s market so heated?!  
  • 28:45 – How gentrification affects the future of a city!  
  • 30:22 – What is the future of Brisbane’s rental vacancies?  
  • 36:30 – “Property Investors are tired of being the ATMs for the State”: Why Antonia is against Queensland’s Land Tax! 
  • 43:56 – Why Ben is also against Queensland’s Land Tax!! 
  • 47:09 – When Victoria tried to introduce Land Tax (and how that ended up!)  
  • 50:38 – What life is like for flood-affected Queenslanders  
  • 54:10 – What does this mean for an ALREADY struggling rental system… 
  • 55:45 – REIQ and Q Shelter’s “Help House a Queenslander” campaign
  • 58:59 – What does the Queensland market need to get out of this crisis?
  • 1:01:03 – How will Queensland’s 2022 floods affect its future property market?
  • 1:02:47 – Antonia’s predictions for housing demand in QLD  
  • 1:05:55 – How climate change is changing asset selection!  

And… 

  • 1:10:45 – Bryce’s lifehack for greater productivity!!  
  • 1:12:19 – Is 2022 the Year of the Unit?  
  • 1:14:23 – All the single ladies (…are getting onto the property market!)  

 

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