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The Game of Property Investing: How To Win Before You Even Play

Are you curious about the single factor that distinguishes a thriving property investor from one facing financial challenges?

Knowledge.

Well, to take that one step further… it is actually the RIGHT knowledge!

Property Investing is a game. Sure, it’s a game that requires part “Art” and part “Science”, but it’s just like any other game… there are “rules” you need to play by. And these rules determine whether you win or lose.

So, what would be possible for you if you ALREADY knew how to win at The Game of Property Investing?

In this episode – one of a ten-part mini-series of our #1 bestselling book, The Armchair Guide to Property Investing: How to Retire on $2,000 a week – introduces you to The Cardinal Rule every property investor must know if they want to build a multimillion-dollar property portfolio that creates a passive income for life!

Listen now to get Rule #1: How To Win Before You Even Play!

Get further insights and “play along at home” by picking up a FREE physical copy of our book here: http://www.thearmchairguide.com.au/

Here’s a bit of what we cover in today’s episode…

  • Who are we to teach The Game of Property Investing, anyway?
  • A behind the scenes look out our personal experiences as property investors
  • How To Adopt The Winning Mindset of A Successful Property Investor
  • Why Property Investors Fail: The Barriers To Lasting Wealth And How To Avoid Them
  • Why Your Money Attitude Will Either Cripple You OR Propel You Forward
  • Why don’t the majority of people succeed as property investors?
  • The “Have-Nots and Won’t Haves” vs. The “Will-Haves” (use these insights to see where you currently sit!)
  • The best place to start…
  • Personal Values and Money Alignment
  • Bryce Holdaway’s Mindset Tips (a sneak peak)
  • Ben Kingsley’s Action Plan (a sneak peak)

 

Free Resources

  • Free Book – The Armchair Guide To Property Investing: How to Retire on $2,000 A Week (please just pay for postage – we’ll pay for the book and send it anywhere in Australia for you.)
  • The Property Couch PodcastThe Insider’s Guide to Property Finance and Money Management (This is Australia’s #1 Property Podcast with over 307+ episodes that features HEAPS of simple and actionable frameworks, countless interviews with the best minds in the Australian property and finance industry and a ridiculous number of free resources to help you at any stage of the property investment journey)

 

Episodes from The Property Couch to Further Support You…

 

 

 

438 | REVEALED: Avoid these Property Buying Myths

There are many myths about buying property, but… it is important to avoid the hype of the headlines folks! 

In this week’s episode, we tackle some of the biggest property-buying myths going around – and bust them right open with facts and real-life examples from our team on the ground.  

This is Part 2 of our series on myths and misconceptions and today we unpack some of the big ones; 

🔎 Are property prices dropping?? 

🔎 The Time it takes to transact   

🔎 What is a Bargain Property? 

🔎 Unpacking the perfect property myth   

🔎 Set and forget strategies are non-existent…  

🔎 What is the Growth Corridor and what is the corridor measuring???   

🔎 How to avoid the hype!! 

Another jam-packed episode for you as we separate fact from fiction when it comes to buying property! 

Tune in now or watch the episode below 😊 >>

 

Free Stuff Mentioned… 

  • Looking for an experienced Buyers Agent? Book in a free, no-obligation consultation with our team who’ll steer you away from any myths towards financial freedom. Get your free appointment here >>  
  • Are you MoneyFIT? Find out in Moorr, your next-generation money management platform. Sign up online, or download the Apple or Google Play app now!

Want to work with Bryce & Ben’s Award-Winning Team? 

 

Here’s some of the gold we cover… 

  • 0:00 – The next installment of our Mythbusters series   
  • 03:30 – Yes, we have had an interest rate pause….. BUTbe cautious    
  • 03:36 – What are the rhythms we are really looking for??   
  • 04:12 – Mindset Minute……   
  • 04:45 – Myth #1 – Are property prices _______??    
  • 06:02 – At the coal face of property buying in Melbourne…  
  • 07:18 – Are listings really moving this quickly??  
  • 08:49 – Why our team is missing out… Why we need to be wary of the headlines…    
  • 10:05 – This property was a perfect storm   
  • 15:40 – Is The uncertainty of COVID dissipating??  
  • 16:11 – Are all buyers at the mercy of interest rates??   
  • 17:13 – This is a Warning signal … AND  a leverage point    
  • 18:25 – What about Adelaide..   
  • 19:00 – Is it affordable??  
  • 20:00 – High competition…. Where is the demand coming from?  
  • 22:10 – Why do we keep reinforcing suburb and property types?  
  • 22:35 – How are we learning from the missed deals?  
  • 22:55 – …and the Brisbane market   
  • 23:50 – What is the mindset and conditioning of these buyers??   
  • 26:05 – Perth… Why are they saying it’s nuts!!!   
  • 28:08 – Are Investors acting irrationally???   
  • 29:27 – Is demand exceeding supply??  
  • 30:35 – Will property prices stabilise?    
  • 34:06 – Will we see interest rate falls and what will that do to borrowing power??  
  • 34:33 – Times are very different now… Who does this speak to?   
  • 36:00 – Will we see more growth instead of a correction?   
  • 36:14 – When can you predict the bottom?   
  • 37:00 – Myth # 2 – Time to ______  
  • 37:27 – It takes time to get ready!!!!   
  • 39:05 – Myth #3 – ______ property    
  • 39:41 – Do your fundamentals stack up?   
  • 40:32 – What’s with the bargaining rack at the shopping mall??  
  • 41:42 – Myth #4 – The ______ property myth    
  • 41:59 – Is this an alibi for procrastination???  
  • 44:15 – When do you say enough is enough?  
  • 44:40 – Myth #5 – Low _______ properties   
  • 44:56 – Why Set and forget strategies are non-existent…  
  • 48:12 – Investing is a process…. Not an EVENT   
  • 48:39 – Myth #6 – The ______ Corridor    
  • 48:52 – What is the corridor measuring???   
  • 49:50 – Are you investing in the developers’ profits????   
  • 53:50 – The four ways an investor pays? https://thepropertycouch.com.au/episode-019-four-ways-investor-pay-wrong-asset/   
  • 54:15 – What are the key takeaways?  
  • 54:20 – All of OUR underlying principles remain   
  • 55:40 – Avoid this – SIMPLE!!!  
  • And…   
  • 56:10 – Lifehack: How to game the big tech companies from surveillance capitalism  
  • 59:30 – What’s making property news?? 

 

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

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… 

 

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… 

 

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… 

 

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____! 

 

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