396 | From Public Housing to a $180K Passive Income Per Year: The Power of Planning – Chat with Kim

By The Property Couch June 23, 2022 in Podcast, Summer Series, Winter Series

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As Australia descends into winter, what better way to celebrate the chill than by kicking off our 2022 Winter Series?!

In this special edition series, we’ll be deep-diving into some of our listener’s personal stories, going behind the scenes to share their challenges and triumphs and exploring how they’re successfully investing in property thanks to the power of planning.

We’ve got a very special lineup of guests, all with very different money stories but all with 1 thing in common…

They’ve each faced and overcome life’s difficulties and “planned to become, what they planned to become”! Basically, we’re uncovering…how folks are creating long-term plans WITH short-term variations!

To open our Winter Series, we’ve got a guest with a real “rags to riches” story – beginning as a refugee in the UK…

“We were placed in social housing to begin with in a rough neighbourhood with high crime rates. It was not the kind of place you’d say hi to your neighbours. You’d just keep to yourself.”

Ever since she was young, today’s guest was exposed to the importance of money.

Relocating as a refugee from Vietnam, Kim watched her parents start from scratch, working odd jobs to save money, raising a family and eventually buying their own business.

Did that mean she was wise when she got her first pay packet?

Definitely not!

So how did she evolve from her splurging years to owning 2 investment properties with her partner, well on her way to achieving a $180K per year passive income?!

This one’s a must-listen folks – Kim is articulate, funny and relatable as she recounts journeying to Australia with no job lined up, her initial wacky investing ideas and how long-term planning has helped her to find financial success.

Thank you for sharing your story with us Kim – we’re honoured to be opening our first Winter Series with you!!

P.S We’ve lifted the lid on Pandora’s Box folks. The details for our 2022 webinar are officially out! In just over 2 weeks, on Wednesday 6 July, we’ll be logging on at 7:30pm AEST to share the #3 biggest secrets behind any investor’s success…

Secret # 1 – How to Buy an Investment Property without Impacting the Family Budget
Secret # 2 – How to Retire on a $2k per week Passive Income with 5 Properties or Less
Secret # 3 – How to Model the Mindset of the World’s Best Investors!

Excited yet?! Spots are limited though, so register here now to save your place!

Free Stuff Mentioned…

Want to find out the #3 biggest secrets for successful property investing? Come along to our Webinar! Click here for more info.
Looking for a Qualified Property Wealth Planner? Why not check us out for a FREE no-obligation consultation?
Can’t wait for our next Winter Series episode? Listen to our 2021/2022 Summer Series which is all about Transformation!

Here’s some of the gold we cover…

0:40 – Welcome to the Winter Series folks!
2:05 – PSA: Our upcoming Webinar details AND the #3 biggest investing secrets we’ll be sharing in it!
4:35 – What was Kim’s money story growing up as a refugee in the UK?
8:52 – The Splurging Saga
9:40 – Kim’s family business: How did they build wealth?
11:30 – What changed Kim’s mindset + ingrained views around debt
12:55 – What it was like growing up in a rough neighbourhood
14:17 – What sparked Kim’s interest in wealth-building?
16:50 – Rocking up to Australia: 1-year VISA & no job in place…
19:49 – “Within 8 minutes our hearts were crushed over and over again…”
22:11 – How they got their first investment property!
24:45 – Juggling job security and an investment property during COVID
26:30 – The 2nd investment property: Not what they thought?!
27:50 – The wacky ideas they had before coming to their advisor…
29:54 – How this couple found their sweet spot in debt levels
32:15 – Why having a plan on paper is so important
33:43 – What simulations did we run for them?
34:43 – How is a roadmap helping Kim & Arnie?
36:18 – What is their plan? (Wow – partially retiring at 45?!)
38:45 – Set to buy in 2030: What is the value of planning long-term?
41:15 – Kim on the biggest benefits of having a plan
43:10 – Why did they decide on a $3k weekly passive income goal? ($180K per year!!)
45:23 – Why having debt at retirement is…ok?!
48:00 – What’s internal financial transformation did Kim undergo?
49:20 – Kim’s advice to listeners…
51:40 – Our key takeaways!

395 | Darius Boyd: How this NRL Star Found his Financial and Mental Peace

By The Property Couch June 16, 2022 in Podcast, Real life stories

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While we love to have some good AFL banter on the show, this week’s episode is all about a star from another Aussie sport… 🏉

We’re jumping into the world of NRL (National Rugby League) with one of its most prominent athletes who played fullback, wing, centre and five-eighth for the Brisbane Broncos.

Representing Australia at an international level and playing in the Queensland State of Origin…

We’re extremely chuffed to welcome Darius Boyd to the couch!

He captained the Brisbane Broncos from 2017 to 2019 and has an illustrious 15-year career as a professional athlete having won 2 NRL Grand Finals.

But folks…as much as we wanted to get lost in sport, this episode peels back the sheets to before Darius was a big sports star…

Back to when “even getting $2 to catch the bus home wasn’t easy…” and he was being raised by his mum and then grandma at 15 years old.

It’s a truly powerful tale as we follow Darius as he jumps from growing up with a tight budget to earning more money than he knew how to handle at just 18.

We discuss the timeless wisdom he gained being coached by one of sports greatest mentors – Wayne Bennett – the drive that pushed him to become one of NRLs best players and the 5 Simple Steps to find positivity and mental peace.

Tune in now folks, this one’s an inspiring tale!

P.S Next week we’re kicking off our Winter Series! While our Summer series is all about transformation, our winter series will be all about planning!

We’ve got a brilliant program in store for you with some heart-warming and inspiring tales from our listeners — we can’t wait to share them with you!

P.P.S As Bryce hinted in the episode, we’ve got something else very exciting coming up. Now we don’t want to give too much away just yet, but we will say one word…W E B I N A R!!

Interested?? Keep your eyes and ears peeled folks, we’ll be releasing the details very soon…. 😉

Free Stuff Mentioned…

Have a look at Darius’ associate organisation, the Top Blokes Foundation which focuses on improving young male health and well-being. Lots of great stuff being done by them!
Folks, check out our MoneySMARTS system here or get in touch with one of our Qualified Property Investment Advisors for a FREE no-obligation consultation.
If you haven’t yet, listen to Reserve Bank Governor Philip Lowe’s interview on interest rates and inflationary challenges here.

Here’s some of the gold we cover…

2:11 – Folks, we’ve got 2 VERY exciting things in store for y’all…
3:12 – How do you know when it’s enough?
8:11 – Meet Professional NRL Star Darius Boyd!
9:42 – His Money Backstory: “Even getting $2 to catch the bus home wasn’t easy…”
13:50 – The lessons he learnt from living with Grandma
15:24 – Darius’ first lesson in wealth building
17:45 – Wisdom he picked up from ultimate sports coach Wayne Bennett
19:40 – THIS is what makes a good coach…
20:29 – The drivers that pushed him to become one of the best NRL players
21:55 – The best players weren’t always the best…
23:58 – Advice he’d give to others looking back on his career
27:38 – Folks, it’s okay to spend on experiences!
28:00 – Darius’ first property
28:52 – The road to becoming Renovators
31:32 – How does Darius & Kayla select their Assets and Location?
33:00 – What role does property play in his future?
34:33 – What was it like transitioning away from being a Professional Athlete??
37:28 – His 5 simple steps for positive mental health!
40:22 – Working with Top Blokes Foundation and normalising mental health discussions amongst young men

And…

43:40 – Let’s Recap
46:24 – Need to set 100 reminders? You can with your Apple Watch!
48:35 – One of Ben’s MOST important interest rate updates
53:10 – This is actually an opportunity for….
54:23 – Check out RBA Gov. Phillip Lowe’s 7.30 Interview here

394 | Do you NEED to choose between Lifestyle & Wealth?! – Q&A

By The Property Couch June 9, 2022 in Podcast, Q&A

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It’s been a while since we’ve said this (which makes it even more exciting!!)…

Ben reckons he’s found his new FAVOURITE QUESTION!!!!

That’s because this question is something EVERYONE can relate to: Do I need to choose between building wealth or living the lifestyle you want?!

Folks, this is the type of thing that we deal with on an everyday basis!

We’re using our years of battle-hardened experience and razor-sharp knowledge to outline what this question essentially boils down to, revealing how thousands of our clients have overcome this dilemma, and recommending just one thing that can clear all the rocks and rubble on anyone’s investing pathway, making the journey more akin to a walk in the park.

Plus we’re covering loads more territory including…

How does our $2k weekly passive income goal tie in with Super?!
And we’re talking Equity – should it be used to refinance or kept for the rainy days?! Is there a catch all solution to this?! And given today’s rising interest rate market, is now a good time to be making this move?
We also reveal some of our biggest Do’s and Don’ts when renovating and share our top resources to help you get the best bang for your buck.

So if you’re ready for lots of evergreen wisdom, tune in now folks! 🛠️️👷

Questions we Answer

Bernie Blyth on How to hold properties with higher cashflow drain

Hello Bryce & Ben.

This is Benny from Bayside in Melbourne. Firstly, a quick thanks for the value-added content you bring.

My question today is about how to adjust one’s portfolio in response to maintaining a healthy cashflow. My wife and I live in Metro in Melbourne and have 3 kids between 10 and 16. We’re happy in our own home and have 2 investment properties. Now first, the 2-bedroom unit, we bought in 2006 has double in value and is now positively geared to a degree.

In 2014 we bought a tiny but old 1950s brick house in one of Melbourne’s baysides suburbs, which is a land bank. On the positive side, it’s experienced capital growth in the interim and is situated on a block of land that has redevelopment potential such as a subdivision.

On the challenging side though, it’s still negatively geared and being an older property, it doesn’t rent for anywhere near as much as the recently developed properties around it and even though we both work, we have the cost of 2 kids in private schools simultaneously for the next six years combined with the prospect of rising interest rates, we are considering our next moves in terms of balancing property growth, cash flow and lifestyle.

In general, what options would you recommend for consideration?

Jake on – Pulling out equity and purchasing another

Good day Guys, Jake here.

Chasing an answer for this question that’s been sitting on my mind for a little bit. So my partner and I have recently refinanced a house in the Southeast Suburbs and fortunately we’ve found that there’s a bit of equity in there which is good.

Now, what are your thoughts on pulling out essentially every bit of equity in the property to then purchase another one given that interest rates are going up and then might be a little bit of a plateau or even a slight decline in the property market. I’d love to hear your answer.

It’s probably pretty straight forward but yeah, I though it would be a good one to myself and probably a lot of other people who’ve purchased in that pre-pandemic period so I’ll wait for the answer and appreciate the feedback and also go the tikes and hopefully onwards and upwards you gain for this season.

Cheers guys!
Bye

Adam Lett on Planning include Super?

Morning Ben, Bryce and team.

My name is Adam and I’m a long time listener of your show. My question relates to the plane of 3 to 4 quality investment properties to derive an income of $2000 a week in retirement. I’m working towards this goal.

My question more specifically is how is this plan ties in or (dove tails in?) with an individual superannuation balance?

By this I mean, if I or an individual had a healthy super balance of a million dollars plus is the $2000 a week on top of the super? Really like to hear your thoughts on this, keep up the good work.

Laura Turner on Resources to help with renovating

Hello, I’m Laura, I’m from Melbourne.

My partner and I own our own home and we’ve just purchased our first investment property which we have nearly finished renovating.

We purchased an old house, 3 bed, 1 bath, and we’ve turned it into 3 bed, 2 bath, with a walk-in room and we’ve updated everything to be within this century. I’m a conveyancer. My partner’s a carpenter and our plan moving forward is to keep purchasing property to renovate as this is something we both really enjoy, plus we see it as a quick way to grow our equity.

What I don’t really understand is how to work out all of the figures.

This current house that we have renovated ended costing a lot more than we anticipated. I haven’t had it valued yet as we are not finished but I am crossing all of my fingers that we haven’t over capitalised and that we will walk right with some kind of profit and then nothing is certain however,I am wondering if there’s someway you can recommend where I can go to learn how to find the right houses to renovate, how to calculate cost and what the end valuation is likely going to be.

Any courses, tools or calculators you can recommend we use before we can go ahead and purchase our next property would be super helpful. Thank you!

Free Stuff Mentioned…

If you want to get some “Line of Sight” for your long-term plans, why not check our Property Portfolio Plan?
Get our FREE best-selling book, “The Armchair Guide to Property Investing” here. Just pay shipping and we’ll send you a free copy 😊

Our Renovation Resources recommendations!

Here’s some of the gold we cover…

1:15 – Ask us a question on our Speak Pipe for a chance to win our Start & Build Course!
1:50 – So…how’s Labour going?
3:22 – Folks, the REALER you are the less….?
4:44 – Q1) How to hold properties with higher cashflow drain
6:35 – It’s really a question around C____
8:11 – THIS is what most of our clients do!
10:25 – The 1 thing that everyone needs in situations like these is…
11:39 – Getting wealthy and STAYING wealthy are 2 very different things folks!
14:46 – Couples that come to us often have THIS problem
18:12 – The Compounding Effect – why you should hold!
19:31 – Q2) Pulling out equity and purchasing another
20:49 – Ben’s Warning!
23:13 – Make sure you have these foundations down!
24:38 – If you release your equity now, you’ll get less…
25:00 – For all our listeners: NOW is a good time to do these things
26:20 –The 3 best equity release strategies!
28:35 – The 3 steps to go from here (If you need one, why not check us out? 😊)
32:22 – A shoutout for our clients!
33:07 – Q3) Planning include Super?
36:50 – Check out these examples too!
37:14 – Q4) Resources to help with renovating
38:18 – Why shows like “The Block” don’t WORK!
40:10 – The minimal rule of thumb for renovating
41:07 – THIS is where you’ll get the most bang for buck…
42:46 – How much should you spend on your specs?
43:17 – For repeat renovators, be careful about this exemption!
44:03 – Bryce’s top 3 considerations
45:45 – Why Renovating to hold is a better strategy….
46:54 – How to test the asset’s location!
47:54 – Reno resources we recommend!

And…

49:40 – Find your phone…from your watch?! (For you Apple Users)
51:03 – There’s a developing Building Supply challenge…

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

By The Property Couch April 28, 2022 in Podcast, Q&A

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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…

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

By The Property Couch April 7, 2022 in Podcast

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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.

(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!!