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Episode 187 | How to Inspect Property Like a Pro! Chat with Andrew Mackie-Smith, Expert Building and Pest Inspector

Folks, let’s just come right out and say it… getting a Building and Pest Inspection is very, very important if you’re going to buy a property. So much so that we’d go as far as to use the word “vital”. Yep, this is true for both homeowners and investors!!

So, we think it’s in your BEST interests to listen to what today’s guest, Andrew-Mackie Smith, Principal Consultant of BuildingPro (Building and Pest Reports) and author of Building Success: Why Property Investors Need Building Inspections has to say about it.

Here’s why he’s the guest qualified to give you these tips:

  1. He’s personally carried out over 12,500 Building and Pest Inspections
  2. He’s qualifications are legendary — Andrew is a licensed builder, building inspector, pest inspector and holds qualifications as a building surveyor, scaffolding inspector, timber stores greater, real estate agent and pest manager
  3. He’s a sought-after speaker to provide expert advice, specifically (but not exclusively) aimed at helping property investors.

We’re absolutely sure you’ll get a bag full of golden nuggets to take away from this one folks!!!

 

Oh, and guess what, folks?? It’s that time of the year!

Property Investment Professionals of Australia (PIPA) would like your input in this year’s Property Investor Sentiment Survey!

It should take less than 10 minutes to complete, and your feedback is really important to reveal the mood, confidence and key trends underlying the Australian property investment market (yep, that also includes your thoughts on the current lending environment).

Complete PIPA’s Survey Now >>

 

And before we jump into what you’ll learn from Andrew Mackie-Smith, just a quick shout out to a few free resources:

  1. Data Dive! Click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns and we’ll send it to your email right away.
  2. Pre-Building Checklist – Click here to fill it in
  3. We’re coming to Sydney’s Property Buyer Expo next weekend (7 – 9 September 2018)! BOOK your free ticket here and use this discount code: COUCH

Similar to Melbourne’s Expo, we’ll be presenting a First Home Buyer/First Time Investor MASTERCLASS Live!!

When: 10 AM SATURDAY 8th of September
Where: International Convention Centre, Sydney
Cost: FREE for TPC Listeners!

PLUS, Ben’s also doing his own presentation on Sunday @ 1:00PM – How to Achieve Financial Peace with 5 Properties or Less!

Join us there!

 

Back to today’s show.

Here’s what you’ll learn:

 

 

 

Episode 186 | Q & A – Should You Pay Down the Principle Loan When Interest Rates are Low? Are Multiple Offset Accounts a Good Idea? PLUS The Step-by-Step Process to Buy an Investment Property!

“The people’s podcast” is EXACTLY that today folks! Because here’s the deal… it’s full-on, gold-packed Q & A Day!!

And we’re diving headfirst into…

  1. Offset accounts —is it a good idea to have multiple offset accounts? And should you offset your highest loan or the oldest loan?
  2. Investing in outer suburbs versus inner suburbs
  3. The step-by-step process of buying an investment property
  4. Buying a home (PPOR) versus an investment property (IP)
  5. Lending — should you pay down the principle of an investment property when interest rates are low?
  6. Why should you join PICA?
  7. TWO amazing LifeHacks from our community!

Oh folks, we don’t want to pick favourites — but even we’ll admit it — these are some solid questions from our listeners!

From start (Mindset Minute) to “Knowledge is empowering, but only if you act on it”… this episode is ALL YOURS!

Before we jump into the questions, click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns or fill in the form below and we’ll send it to your email right away.

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Questions from Kyrillos:

  1. If you’re purchasing more than 1 property, can you get more than one offset account? And if so do you split all the cash between them, or is it wiser to pour in all the cash in the offset against a larger loan?
  2. To do with LocationScore — I’ve gone through and created a Spreadsheet of all of the suburbs within 50km of Brisbane’s CBD and found that most of the better-scored suburbs are actually quite far, in terms of the asset selection criteria you guys talk about. I understand that LocationScore is more of a demand versus supply score, so if you’re a Buy and Hold investor, at a suburb level, is buying in a better location still the better option?
  3. Would you be able to run through the process of buying a property? Could you run through a quick, step by step process of what happens when (research, when should you get building and pest inspection etc)?

Note 1: Looking for the link to join the Property Investors Council of Australia (PICA)? Learn more about their membership here!

Note 2: Keen to watch Ben’s Data Dive on Better Price Point, Better Location and Better Returns on Investment? Just click here or fill in the form below to get access to it.

 

Question from Cam:

My partner and I are wanting to buy 1st home. We are 27 years old, have $100,000 saved and are in our 3rd year of full time employment with a combined income of $150K. Should we be stretching ourselves to buy in the area we love FIRST, or should we be buying an investment property and hope to build equity and use it to purchase our Principal Place of Residence down the track?

 

Question from Sonya:

Hi guys, love the podcast. There’s a lot of talk out there about the risk of Australians switching from Interest Only to Principal and Interest loans. I’m currently paying Interest Only, with no interest to refinance as I am starting up my own business and currently don’t have any other income coming in. Half of my loan is fixed, the other half is variable. My question is: should I pay down the principle of my investment property while the interest rates are low to control the risk of a high interest rate at a later date and the Principal and Interest I would have to pay when my loan switches over? I’m less interested in the tax advantages, and am more interested in controlling risk and reducing my overall repayments. I know that the longer my Interest Only repayment is, the higher my repayments will have to be when it switches over — and that doesn’t sound great to me. I’m sure this, and the impact of Interest Only lending, is of interest to other listeners, so I hope you can provide insight. Love your work again. Cheers!

 

 

Data Dive! Better Price Point, Better Location and Better Returns

Fill in the form below and we’ll send it to your email right away! 🙂

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Episode 153 | The Do’s and Don’ts: The Discoveries We’ve Learnt in Property Investing (PART 1)

Happy New Year, folks!!! We hope you celebrated this new beginning in style — and also gave yourself a pat on the back for the great things you made happen in 2017!!

Indeed, 2018 is now with us……. and we are SO excited to share this new chapter with you. We also have a few surprises up our sleeve this year, with more than a handful of epic guests lined up!!

** If you’re super keen on hearing from someone in particular, or about a topic you’ve been dying to learn about, simply head to our Contact Us page or feel free to drop us a line at info@thepropertycouch.com.au**

And remember: $5 is all you need to become a PICA Member!

 

But back to today’s episode…. The Summer Series (Part 1 of 2) on the Foundational Principles of Property Investing, featuring THE best bits of gold from our guests.

In plain English, please?

You’ll hear The Do’s and The Absolutely-Don’ts of Property Investing from the people who have been there, done that, and have an enviable property portfolio to prove it.

(In a nutshell: all of the gold, snipped and trimmed, to fit into 2 episodes).

 

Featuring in today’s episode include the following guests:

 

Filling in the gold mine includes:

  • The Five Golden Rules of Property Investment
  • What is Gentrification and what signs do you need to look for?
  • Why type of car (yep) can influence the future price of a market?
  • The Checklist to getting a great Property Manager
  • If you’re a first time investor, what things MUST you know?
  • What do you need to be aware of when getting advice?
  • What property type is most risky? Why?
  • What role does the media play?
  • How to determine if you need a building inspection for the particular property?
  • What can go wrong?
  • How can you build a portfolio through rentvesting?
  • Asset selection tips and why is location research crucial?

 

Resources mentioned in the podcast:

Get your Break Even Calculator here

Become a PICA Member here

See the infographics Ben was talking about here

 

 

 

Episode 107 (Part 2) | Contract Reviews, Off The Plan and SMSF Purchases and more – Chat with Nicole Faid, Principal of Accord Conveyancing

We hope you enjoyed the first part of this two-part special guest week episode! In the second instalment of this episode with Nicole Faid; Bryce, Ben and Nicole all go into more detail concerning conveyancing, whilst focusing on some of the following areas:

  • Off the plan contracts: What to expect and be aware of
  • Possibility of getting your deposit back if you decide to pull out of the deal
  • Anecdotes with regards to purchasers and a vendors’ deal
  • Why is it important to get contract reviews and is it too late if the contract has already been signed?
  • A purchaser’s rights when buying a property and what the condition of the property should be like after the deal has been made
  • What is considered as an acceptable amount of compensation if there are faults to be repaired on the property?
  • The difference between joint tenants and tenants in common
  • What is spousal transfer and how it works?

 

And of course, there is so much more they talk about and in a lot more detail. With a lot more laughs, jokes and information for you all; make sure you don’t miss the second part of episode 107 and don’t forget to stay tuned for Bryce’s Life Hack and Ben’s “Did you Know…” segment.

 

If you like this podcast: “Contract Reviews, Off The Plan and SMSF Purchases and more – Chat with Nicole Faid, Principal of Accord Conveyancing”, don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. If you have any questions or ideas, feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Episode 039 | Post-Purchase Process for Investment Properties

As mentioned before, getting the right strategy and perfecting the art of asset selection is crucial to any property investors. But what happens once the contract is signed? This time on The Property Couch, Bryce Holdaway and Ben Kingsley talks about the post-purchase process when buying an investment property.

Bryce started off the podcast with an analogy. Imagine you on board a plane and it’s about to depart. When a plane takes off, from the moment it leaves the tarmac to the point it levels out at 30,000 feet, that’s when it uses most of its fuel. That’s the same with property investors. They use most of their mental fuel when they are going to buy the property but once the deal is done, most often forget that they still have the rest of the journey to complete.

 

Looking to donate to Ben’s Movember? – Click here

 

Free resources mentioned in this podcast:

Property manager checklist – Download here

 

If you like this episode, don’t forget to rate us at our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

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