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492 | The Hidden Cost of Get Rich Quick Schemes

 

What would you do if you worked 16-hour days on the road and were utterly exhausted the few days you were home? With a family to care for and a past of previous divorces, you’d probably want to change your lifestyle. 

But what if it’ll cost you $42,000 A YEAR? 

Or, what if you’d made the #1 biggest investing regret of your life in a get-rich-quick scheme and had lost half a million dollars?! How would you recover and get back on track towards a comfortable retirement  

In this Case Studies episode, we’re mapping out two plans for two couples (names have been changed for privacy 😊) whose stories testify to the fact that there is no one “right” way to invest in property. 

Psst – we bet you’ll be intrigued by the unexpected turn of events in Case Study #2. It’s a reminder that the path to financial freedom often involves tough reality checks to see new opportunities.   

It’s an inspirational episode that holds many cautionary tales, tune in now to avoid falling into the same traps!   

   

Free Stuff Mentioned

Timestamps

  • 0:00 – The Hidden Cost of Get Rich Quick Schemes 
  • 1:22 – Even the sun shines once 😉 and a message from Kurtis  
  • 5:23 – Thank you for all your feedback!  
  • 6:31 – The magic in “Sliding Door” moments  
  • 7:49 – Mindset Minute: Grant Mayo on how to figure out if you should buy it!  
  • 11:01 – Don’t listen to our pod if you love flashy cars 😉  
  • 12:43– Case Study #1: Not All Lifestyle Design Is Measured In Dollars 
  • 15:22 – The Problems: Past divorces and a $42K pay cut?! 
  • 18:43 – The Power of Automobile University  
  • 20:28 – Moorr: Brand-new insights to track the impact of your offset on your total debt levels! 
  • 22:04 – “Investing isn’t just for rich people” 
  • 24:09 – The Plan: How James will get his energy and life back while paying off the mortgage 
  • 29:04 – Buying for $600k in 2028: But why don’t they act NOW?  
  • 31:53 – Risk profiling, recency bias & the perfection solution  
  • 35:09 – The hard work behind the scenes  
  • 40:12 – Results & 5 key takeaways  
  • 43:34 – Case Study #2: The True Price of Get Rich Quick Schemes 
  • 46:07 – His #1 biggest investing regret  
  • 50:20 – They were unclear on THIS important knowledge  
  • 54:04 – The fears & their penny-drop moment 
  • 55:51 – The Plan Pivot: The dream home was not feasible?? 🙁  
  • 1:02:13 – “Sometimes healing comes from bringing the darkness into the light, in a place of trust”  
  • 1:04:02 – The Result: Debt free 2 years before retirement 
  • 1:09:26 – Is it time for your engine check?  
  • 1:11:19 – The Modest & Comfortable budget needed in retirement 

And… 

  • 1:13:32 – Lifehack: How much does it cost a day to blow $10K in a year?!  
  • 1:14:55WMPN:  46% of Commonwealth Bank’s customers in 2023 were from THIS generation 😮  

486 | “Stuff This!”: How to Tackle Financial Anxiety

 

PLEASE NOTE: We have changed the names of the folks in these case studies.  

 We’ve all experienced the gut-wrenching anxiety that comes with property investing, and it’s a natural response considering the huge sums of money and extensive time involved.  

But what happens when it becomes an overwhelming feeling that wakes you up at 2am?  

Folks, this is a REAL story from today’s honest and inspirational Case Study episode.  

From Billy, a single dad holding onto his ambition to secure a future for his son amidst personal and financial upheaval, to Liz and Michael, a couple who found themselves constantly fighting their financial fears.  

Hear how these investors confronted their anxieties, took that first big step with a qualified accountability partner and created their path to freedom.   

The end result? One plan maximises time in the market resulting in a passive income of $2K and the other one creates a net wealth of $17M at retirement😮  

Tune in now to find out step-by-step how these folks will achieve this!  

 

P.S. Huge thank you to today’s guests for opening up about their journeys, we know it’ll inspire many folks in the community to take action.  

 

Free Stuff Mentioned

 

Timestamps

  • 0:00 – “Stuff This!”: How to Tackle Financial Anxiety 
  • 2:43 – PICA Webinar: Stage 2 Property Reforms (QLD)  
  • 3:28 – Social reach out from Kurtis (Share the Ep you’re listening to on your socials!)  
  • 6:08 – Vale Steve Waters  
  • 8:46 – Mindset Minute: What is consistency?  
  • 13:05 – How MoneySMARTS saved this listener! 
  • 14:33 –  Moorr Upgrade Teaser! 
  • 16:31 – Case Study #1: Billy 
  • 20:20 – The magic of soundboards 
  • 22:06 – External Problems: A growing business & limited borrowing capacity  
  • 23:30 – Mortgage Savvy Brokers vs. Accountants  
  • 26:59 – The Internal Challenge 
  • 28:47 – The Plan: How to put more cards on the table  
  • 31:59 – Contingencies Amanda built into this “Single Gent Plan”  
  • 38:15 – How Billy is maximising his tax deductibility  
  • 39:44 – The end goal and his focused transformation  
  • 43:25 – Case Study #2: Liz and Michael  
  • 45:46 – The Anxiety Pitch 
  • 47:43 – Where did the stress and anxiety come from?  
  • 50:52 – Bryce & Ben’s experience with investing anxiety  
  • 55:09 – Google Maps Analogy: There is NO one-size-fits-all!  
  • 57:27 – The Epiphany: “Stuff this!”  
  • 58:41 – The Plan: The contingency child and education 
  • 1:03:54 – How this couple took action 
  • 1:07:25 – $17M at retirement and no more anxiety! 
  • 1:10:16 – Thank you to Amanda, Stu, Billy and Liz & Michael!  

And… 

  • 1:10:47 – Lifehack: A Bed-Time Routine for Strengthening Connection 
  • 1:14:25 – WMPN: Disturbing data from Victoria: House and land sales plummet  

Why You Should Make The Sold Tag Your Best Friend (On Parenthood Podcast) Part 1

The transition into parenthood can be a difficult one with new priorities, greater expenses and less free time.   

During this time, it’s no surprise that many parents start to search for security through that forever family home, however, with today’s tumultuous economy, high interest rates and heated property market, it’s no surprise that new parents are wondering how and if it’s even possible.  

In today’s bonus episode – originally recorded by Parenting Podcast – Bryce sits down with Leonie Akhidenor, its Host and Founder to unpack:  

 📈 How to negotiate a fair price on your family home
⚡Understand this 1 thing about Buyers Agents to reclaim your buying power 
🏠 Know what matters to you! Learn how to identify your top 3 priorities in a property
🔥 How To Out-Smart Real Estate Agents
🤝 Why you should make the sold tag your best friend, and much more! 

 Tune in now folks!

  

Timestamps  

  •  0:00 – Why You Should Make The Sold Tag Your Best Friend
  • 1:44 – The Big Property Question 😮
  • 4:27 – How Bryce navigated early parenthood
  • 5:55 – The auction that did NOT go according to plan…
  • 8:33 – You’ve got to understand THIS about real estate agents
  • 11:28 – Bryce’s Top #2 Tips for this listener!
  • 13:20 – How to Negotiate a Fair Price for Your Family Home
  • 17:06 – What you can do to increase your buying power
  • 18:07 – What Are Your Top 3 Priorities?

Where are all the property investors going? (On REAL Talk Podcast) – August ’23

We’ve all heard the misconceptions about property investors – how they’re often painted as greedy landlords who love raising rents and spend their time swimming in a mountain of cash.

In this bonus episode – originally recorded for the Real Talk podcast (aka the realestate.com.au podcast) – we debunk some of the popular myths around property investment!

Hosted by Alice Piper, this episode features our very own Bryce Holdaway, as well as senior PropTrack economist Paul Ryan.

Before joining REA in late 2020, Paul spent a decade at the Reserve Bank of Australia conducting research on the Australian economy, focusing on housing markets, lending risks and regulatory effects on property markets.

He has also been featured on Episode 459 of our podcast, where we chat about how to solve Australia’s growing demand for property!

 

Timestamps

  • 0:00 – REAL Talk – Where are all the Property Investors going?
  • 00:58 – Data shows investors are offloading their properties at a loss 😮
  • 01:10 – Listen to what some Aussies feel about the state of the rental market
  • 02:26 – This is what the actual Aussie landlord looks like…
  • 04:11 – The main reasons people invest in property
  • 05:22 – Will the number of investors drop even further?
  • 07:44 – The big run up over a decade that has taken the confidence out of the market
  • 08:38 – The Queensland land tax example
  • 09:30 – Bryce gets REAL about some of the pitfalls of property investment!
  • 10:49 – Capital growth & high rental yields
  • 12:39 – Government incentives to invest in property
  • 13:50 – Why is negative gearing such a touchy subject?
  • 18:51 – Lean in!
  • 23:14 – Great advice for those looking at investing in the current market!!
  • 24:41 – We’re all playing different money “games”
  • 25:56 – The silver lining for investors at the moment

 

 

UNpacked: How to Retire on $2k per Week

 

Do you know what the number one trap is when it comes to money?

We’re not all playing the same game!

What does this mean?

 

In their 20+ years in the industry, Bryce & Ben often come across a common theme which is… “My friend/family invested in property via that strategy/location and was really successful, so I decided to do the same thing.

We might all have the same destination but bear in mind that how we get to this destination is different for everyone!

In this mini bonus episode, Bryce & Ben discuss our brand-new course “Unpacked: How to Retire on $2k per Week!

(More details on www.thepropertycouch.com.au/casestudy)

 

When it comes to our bestselling 2016 book The Armchair Guide to Property Investing, it is the case study chapter that often received the most feedback. Our readers love it!! The analysis, tables and charts have always been a popular hit. BUT one thing that they often requested for is…

The nitty gritty behind the modelling.

 

After all, there’s only so much you can see from table and charts on black and white printed paper.

And so, in a typical TPC fashion, we’ve taken their feedback to heart and are proud to announce that after months of work, our brand-new online course is now ready!!

This course discusses seven different scenarios (the book only covers six, but we threw in a bonus one for this course!), and how you can plan for a comfortable retirement no matter which “game” you are playing!

Each case study is around the 40-minute mark and covers more than what you can get from the book. And the best bit is… we’ve updated the variables and assumptions in the book to reflect current times!

Find out how everyday Aussies like yourself make $2,000 per week in passive income, whether you are:

  • A Rentvestor (Renter looking to invest in property)
  • DINKS (Double Income No Kids)
  • A Couple with Young Kids
  • An Older Couple with Older Kids
  • Empty Nesters
  • A Single Parent
  • (BONUS!) A Single Millennial with a Thirst for Travel

For only a few more days, this course will be available at a heavily reduced launch price of $97! After this, the price will go up, so you don’t want to miss out!

Get your hands on our brand new online course today at www.thepropertycouch.com.au/casestudy

 

 

 

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