330 | Top 10 FOMO Mistakes Investors Make!

By The Property Couch March 18, 2021 in Podcast

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FOMO (Fear Of Missing Out) is certainly here in this hot property market, folks!

Let’s be real… the “Great Australian BBQ Topic” is officially on steroids right now — a combination of low interest rates, rising property prices and lack of supply in the market is seeing all sorts of people jump in on “the property party” they perceive everyone else is enjoying.

So, we want to be direct with you… there are NO excuses to purchase property because of FOMO! The reality is you should NEVER make huge financial decisions on a whim or forget to “look before you leap”.

A hot market — like the one we’re currently experiencing — is the perfect storm for property buyers to make mistakes and land themselves in hot water by stretching themselves too far, acting without thinking, falling into the “herd” mentality, or disregarding the fact that FOMO is a paradise for spruikers!!

As a follow-up to our 3-part mini-series on how to win in a HOT property market, today we’re tackling the Top 10 FOMO mistakes property investors make… because we DON’T want to see you getting burnt out there or realising too late that you fell into the trap of irrational exuberance!!

So, strap yourselves in folks… ‘cos we’re about to give you some TOUGH LOVE!

Free Stuff Mentioned…

What’s Covered In The Episode….

02:12 – How can you WIN our Start & Build online course?
07:57 – How Bryce’s heckle to Ben ended in a property investment lesson… (LOL)
09:57 – Mistake #1: You buy__ because you __ __ __ !
10:30 – The Perfect Storm for FOMO…
11:23 – A question to ask yourself to rein in FOMO…
11:54 – “I went to buy a loaf of bread and came back with a property!” (yep… real life story!)
14:02 – Why market movement doesn’t mean you should buy property…
15:10 – “CBAD”!
16:07 – Key FOMO difference for investors and owner-occupiers
16:28 – Ben’s Two Controversial Tips for Owner-Occupiers!
20:00 – Mistake #2: You buy because you want to get __ __ !
20:26 – Why is FOMO a paradise for Property Spruikers?
22:10 – Beware of The Stock List!
23:26 – Why we DON’T like the word “Rich”!
24:15 – The Fundamental Principle to work out if YOU are the product!
25:13 – Understanding the enemy…
26:34 – How to identify “The Millionaire Next Door”
27:17 – Mistake #3: You __ __ __
31:16 – The 30,000-foot view…
31:57 – The two most-common situations we model…
33:51 – Mistake #4: You __ the wrong __!
34:13 – Why you need to be cautious of “flipping” in a hot market…
35:24 – Understanding investment-grade locations…
36:00 – Why a character property could actually be the WRONG property for you…!
37:09 – Mistake #5: You __ __ want to __ on __ !
40:52 – Mistake #6: You __ without a __ __ __ __
41:27 – Why can you borrow more as a rentvestor?
42:20 – Considerations if you’re chasing higher-yielding properties
44:02 – Mistake #7: You underestimate what it takes to __ __ a __ __
44:47 – Mistake #8: You’re too __ or too __
46:17 – Classic examples that lead to a poor-performing property
48:27 – Mistake #9: Your __ is disconnected from __ _
50:20 – Are you paying too much?
53:50 – Mistake #10: You Buy __ Because You Think __ __ __ Changed!!

Welcome To Your Lifestyle Design: Your Passive Income Starts Here!

By The Property Couch October 26, 2020 in The Armchair Guide to Property Investing

Have you ever thought about how you can create a passive income through property investing?

Further to that… have you ever thought about the lifestyle you could design for yourself if you had $2,000 per week coming in… WITHOUT having to go to work for it?!

If that was the case, you could literally spend your time doing whatever it is you want – maybe it’s travel, maybe it’s philanthropy, maybe it’s each and everything in between!

Well, welcome to The Armchair Guide to Property Investing podcast…!

This show is for aspiring and existing property investors who want to learn how to build a multimillion-dollar property portfolio that creates $2,000 a week in passive income! Learn from Bryce Holdaway and Ben Kingsley, two of Australia’s leading property investment experts, the co-authors of the #1 bestselling book, The Armchair Guide to Property Investing and co-hosts of Australia’s #1 Property Podcast, The Property Couch – The Insider’s Guide to Property Finance and Money Management.

This show’s come together in a rather unique way (which Bryce is quickly going to tell you about now)… and, yep, it features the content, the “behind the scenes” summary and all of the best bits of our bestselling book – The Armchair Guide to Property investing: How to Retire on $2,000 a week. And, no, we don’t read it out word for word as that’s not as fun! 😉

If you want a FREE Physical Copy of The Armchair Guide, head to www.thearmchairguide.com.au for more details!

Enjoy the show… and, more importantly, enjoy your Lifestyle By Design!!

Free Report: Top Tips on How To Master the Foundational Pillars in Pandemic Times

By The Property Couch April 28, 2020 in Free Resources

We realised that Ep. 279 | How To Master The Pillars in Pandemic Times could be a tad long for some of our time-poor listeners. But it is a crucial episode especially when we are right in the middle of a pandemic.

To make it easy for our community to digest, we’ve listed out all the key points of the episode and produced a summary of all twenty-three tips on Asset Selection, Borrowing Power, Cashflow Management and Defence!

Just leave your details below and we’ll email you the PDF right away!

Free Showbag: Isolate + Chill

By The Property Couch March 25, 2020 in Free Resources

As mentioned on Episode 277 (Coronavirus and Property FAQ), we know that you’ll be spending a lot of time indoors. So we want to make sure that you’ve got enough material to keep you indoors! And there’s no better time than now to reflect and upgrade yourself to the next level be it in property, finance, money management or even MINDSET! So here’s our Isolate + Chill aka Self-Isolate and Self-Develop Showbag. 🙂

Scroll down to see all the links to the playlist. If you’d like us to email it to you instead along with some additional bonus materials, then just fill the form below. 😉

Now, let’s cut to the chase! We want to get you started on your Self Isolate and Self Develop Journey as soon as possible!

For iTunes Listeners

Here are the steps to import the playlist to your iTunes on your computer:

Click here to download the playlists files
Open up the downloaded zip folder and extract all the files onto your desktop
Open up your iTunes
Go to the top left corner of iTunes and look for “File”. Then, look for “Library” and select “Import Playlist”
A pop up will appear. Just navigate to your desktop and import your preferred playlist.
And that’s it! Your iTunes will import only one playlist at a time so you can repeat the steps if you’d like to import more than one playlist.
Happy Learning!

Still not sure how to do it? No worries! Stiggy got you covered. Watch the step-by-step video below:

For Spotify Listeners

It’s easy for you folks! Just click here to go to our profile and start following your favorite playlist! 😊

For YouTube Listeners

And of course, our YouTuber community! You guys get a couple of extra playlists too – The TPC GOLD and LIVE Videos! Just click here to go to our profile and pick your favorite one. 😊

Here Are All our Playlist Folks!

What’s Included in this Isolate + Chill Showbag?

Our top downloads, all in one email!

Make Money Simple Again (Free eBook)
The Binge Guide to the Foundations of Property, Finance and Money Management (Free PDF)
Our Top 5 Frameworks for Property Investors (Free PDF)
The Money Savings Hacks The Banks Don’t Want You To Know About (Free Video Series)

All these playlists and their links so you can re-visit them whenever you want!:

COVID-19 on Property, Finance and Money Management:
Across the globe, we’ve all been impacted by COVID-19… and it doesn’t look like it’s slowing any time soon…
With all of the unknows out there… what DO we know? And how is COVID-19 going to affect property prices, the economy and our purse strings? Get our recent updates here.

THE ESSENTIALS
The essentials are the absolute fundamentals of Property, Finance and Money Management! These are the FIRST 20 EPISODES of The Property Couch and are a must-listen for everyone. Check out the “Binge Guide” that covers all the best bits -go to “Free Resources”!

Money, Money, Money!
Money. It makes the world go round. But no one likes “too much month” at the end of the money… so check out our best episodes on Money Management – incl. Money SMARTS, Money Habits, Money Hacks and Money Mindsets

Let’s Talk About Finance
A property investor walks into a bank and says, “Hey, can I have a home loan?”
Just joking, don’t do that. Listen to these instead – from everything to Borrowing Power, Offset Accounts, Interest rates, Finance Structure and Strategy, Investment-Savvy Mortgage Broker and much, much more…

Finding The ‘Perfect’ Property
How do you find the perfect property? What does it look like and where is it located? Find out the top tips on asset selection, incl. investment stock vs investment grade, the reality of tax depreciation, property “spruikers”, contract reviews, building a portfolio and way more!

Mindset Matters
A wise man by the name of Jim Rohn once said, “Stand guard at the door of your mind”.When it comes to property, finance and money management matters. Why? You’re going against the tide. So invest in your mind as well as your knowledge… Hear from ….

Meet the Elite
They’ve Been There. They’ve Done It. And Now They Teach What They’ve Learnt. Hear from the professional experts who have made a living out of investing in property and know first-hand what to do (and what never to do)! Ft. Jan Somers, Paul Clitheroe, Effie Zahos, Susan Alberti, Alan Oster, Alan Kohler, Roger Montgomery, Margaret Lomas, Jeremy Sheppard, Peter Koulizos, Veronica Morgan and heaps more!

Real Life Transformations
Hear first-hand from your peers who have gone ahead and implemented what they’ve learnt on the podcast! Yes, these folks are real life investors who have featured on our Summer Series because they are
1.) Awesome 2.) Have an inspiring story 3.) Explain exactly how they did it.

Question and Answers!
This is the ENTIRE VAULT of our Q&A Episodes! Yep, folks ask. We answer. We cover a HUGE list of topics/questions so take a listen at what’s most useful for you! Don’t forget, you can always send in your own Question 😊

What are you waiting for? Start your Self-Isolation and Self-Discovery Journey today!

Free resources: Isolate + Chill

Fill in the form below and we'll email you all the playlist links and bonus resources right away! 😉

259 | Q&A: A Tax-Saving Hack For An Offset Account, The Simplest Way to Keep Track of Your Properties and How To Distinguish “Emotional Value” from “Property Value”

By The Property Couch November 21, 2019 in Podcast, Q&A

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This Q&A session (brought to you by The Stig) features everything from the BEST benefit of an offset account that most folks don’t know about to build your own home from scratch. We tick off a few new topics and cover…

A Tax-Saving Hack For An Offset Account
How To Distinguish “Emotional Value” from “Property Value”
Why Building a “Forever Home” Is NOT The Same Thing As Investing
The Simplest Way to Keep Track of Your Properties
Property Software Solutions for Existing Property Investors
Multiple Offset Accounts: Why It’s Not Something We Recommend!

All four questions we answer today are listed in full further below — and a special mention to Brodie, Emily, Alan and Chris for contributing today’s epic Qs!! As always, if you want to be featured on a future Q&A, ask us your question here.

Free Resources Mentioned…

Property Investors Council of Australia (PICA)

The Questions Answered Today…

Question from Brodie on Building a New House

“Hi guys, love the insights I have gained and I feel you have saved me thousands. My question is around new property. I understand buying off the plan is a bad idea as an investment etc. however, my partner and I would like to buy a house for the next 10 or so years to raise a family and everything that comes with that. I am a building designer so I am a bit more bias towards building so my question is would building a house with an outlook to live in it for an extended period (10 years+) stack up to buying an existing property?”

Question from Emily on Property Investment Software

“Hi Ben & Bryce, I love your podcast and only recently discovered it since finishing your book. I’m currently up to Episode 70 and can’t get through them quick enough! I am 25 and just finished university in an accounting degree and now have 3 investment properties with a forth due very soon.

I have a question regarding property investment software I hope you can answer. I am wondering what software you recommend for keeping the administration side of your investment properties in check? From what I can see from my Google searches, many of the software packages already available in the market are for the DIY property manager, which advertises its features to do with the collection of rent, scheduling inspections and communications with the different types of tenants etc. However in my personal experience, hiring qualified property managers is the best/most reliable way to go, so these features are useless to me as this is already taken care of.

My question therefore is, is there any software available like MYOB or Xero tailored to property investing that we can input our property costs including regular maintenance, scheduled bills and buying costs. Ideally I would have a different ‘project’ or ‘account’ for each property so that in 30 years when/if I choose to sell, the cost bases for each property are easily worked out to determine the capital gains liability. I love your work and love listening to your podcast every day. Thank you for making such a huge difference to the lives of the little guys on the ground.

Question from Alan on Offset Accounts & Loan Structure

“Dear Ben & Bryce, big fan of your show. A question in terms of offset accounts. I have an offset account on my investment property. Currently, I am living at home and am looking to purchase the second investment property. I am wondering, do I need to set up another off-set account? I don’t want the loans to be inter-linked/cross collateralised. Your faithful listener, Alan.”

Question from Chris on Affording Offset Accounts

(We also went “Live” on Facebook when we answered Chris’s question! You can watch it here.)

“My current home loan is $350,000. Property value sits around $400,000. This is not our forever home and we bought to get on the ladder. We would like to buy our next “forever”” home in the next 4 years and rent out my current home. Current interest rate is 3.23% on a standard home loan, no offset with Bank SA. Current savings for me and my partner sits around $45,000, which currently earns us around $500 in interest a year in an online Rams saver account. That goes up around $20,000 a year with a goal of reaching $100,000 by 2022.

I spoke with my mortgage broker and he came up with the following change in home loan to add an offset: Bank SA, 3.28% interest (0.05%) higher with an annual fee of $395. With $45k in the offset that should work out to an annual saving of $905pa, I think.

Everyone tells me to get an offset but am I getting ahead of myself? I feel once I add on the annual fees and take into consideration, I won’t be making any interest on that 45K, I will actually be costing myself money on my current situation. Or can anyone recommend a better home loan that I should look into. I would love to have multiple offset accounts but they seem to have higher interest rates. If we add all our money in all accounts it would sit around $50K.”