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366 | How to Break into the Property Market?

Folks, the last time we unpacked a case study on the podcast was back in Episode 64 on 19th of May 2016. (WHAT?!!!)

So… you can imagine how excited we were with this episode, can’t you? 😉

In fact, Ben said this at the very start…

“MAAAAATE…. This is a MEGA episode!”

And no, he’s not exaggerating!

What we are doing today is a bit of Myth Busting coupled with some data, graph and cashflow modelling. And here’s a spoiler… You’ll be very surprised at our proposed strategy for this case study cause it’s not exactly what we’ve been banging on about for the last 300+ episodes.

Why are we proposing this then?

Well….

Cause we are going through a rapid price growth cycle and our strategy needs to be flexible and agile!

But before you start tearing off those pages in your custom-made The Property Couch Textbook (just joking but if you have one, please let us know!) remember this…

…. The fundamentals are still very much the same 😉

 

Free Stuff Mentioned

  • 334 | Bernard Salt: The BIG Shift In Australian Property! – Listen here
  • 308 | Pain & Gain: The Wealth Effect & The Housing Affordability Debate – Chat with Eliza Owen from CoreLogic – Listen here
  • PICA’S WEBINAR on Estate Planning – Watch Replay here.
  • ABC News Most Popular Australian Story on Gayle and Mac Shann – Read more here
  • John Kehoe’s Article on Financial Review – Read here
  • FREE Downloadable! Download here or fill in the form below…
  • Free Book: The Armchair Guide to Property Investing! – Get Your Copy Here
  • (85% OFF) Here’s the link to our Black Friday Sale!! >> https://thepropertycouch.com.au/blackfriday
  • (25% OFF) Get Access to Select Residential Reports here! – Don’t forget to key in this discount code: SRPRPT25

  

We recommend you to…

Download this free report before you proceed folks! We’re going through some charts and graphs today so if you’d like to play along at home, fill in your details below and let us know where to send them to! 😉


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Here’s some of the gold we cover…

  • 1:40 – Thinking about your Estate Planning? Check out PICA’s webinar here!
  • 3:03 – THIS Quote from James Clear is epic folks!
  • 4:51 – What is the Real Myth that we Busting today?
  • 6:44 – If you feel like it’s all impossible…. Check this part out.
  • 8:27 – The start of the STRATEGY segment
  • 9:02 – What are the 5 Types of Investors?
  • 11:31 – The TWO Pathway to Equity that we are focusing on today…
  • 14:03 – Moving on to TACTICS!
  • 14:35 – How much deposit is needed for this strategy??!!
  • 16:06 – Practical tips to boost your borrowing power
  • 17:29 – Let’s be honest… here’s what you need to sacrifice.
  • 21:28 – Asset Selection 101
  • 23:11 – What are the TWO Asset Aspects a millennial should focus on?
  • 25:11 – How do you fast track your research for this strategy?
  • 26:59 – THIS is the price range we’re looking at today…
  • 28:37 – What are the areas that you want to stay away from?
  • 32:03 – What’s our definition of “Buying Below Market Value”?
  • 34:11 – Over _ _ _ _ _ _ _ _ _ _ _ _ : One of the Core Risk for this strategy
  • 36:00 – The biggest bang for buck you get in terms of dollar down versus dollar return is…
  • 39:11 – Here’s when you should consider sub-division
  • 41:21 – Serious about research? Which data you should focus on?
  • 43:30 – Everything that you need to AVOID!
  • 47:07 – Download this Free One Pager here before you proceed!
  • 47:45 – The hero of today’s episode… our CASE STUDY!!

And…

  • 1:05:28 – Our BLACK FRIDAY Sales!!
  • 1:11:11 – What’s making property news – Soaring stamp duty ‘bracket creep on steroids’

 

 

 

 

 

 

323 | Rising From A Decade Of Addiction: The Phenomenal Property Investment Story You Have To Hear To Believe – Chat with Sam

There are stories you hear about that stay with you for the longest time. Stories of triumph, stories of heartbreak, stories of beating the odds. Personal stories so authentic and transparent that, no matter what, hit your core and you can’t forget.

This episode is THAT story. And today’s remarkable guest is Sam, a Couch Listener who is as inspiring and impactful as they come!

Seriously. This is one of the BIGGEST transformations – both the biggest financial AND life transformations – we’ve heard on the podcast, and indeed will go down as one of our favourites… ever.

Meet Sam .

Over four years ago, life was very different for Sam. For almost a decade she struggled with mental health and substance abuse… to the point where she was caught in a revolving door of psychiatric hospitalisation.

Since high school she has battled with mental health challenges, which continued for 9 years, while her struggles with illicit substances lasted for about 7 years…

Obviously, and quite understandably, you can imagine that financial matters weren’t exactly a priority. Let alone the thought of investing in property!

Fast forward to today, and Sam’s life is “we have no words” different. A PHENOMENAL turnaround you just have to hear to believe, folks!

Oh, and just FYI… Sam is a young single woman on a modest income who has never known ANY other property investors… yep, that’s ON TOP of her incredible backstory.

Just listen to it. You’ll be blown away.

We know we were.

 

P.S. This is the LAST EPISODE in our 2020 Summer Series… and while we’ve absolutely loved each and every one of our guests, we reckon we might’ve saved the best ‘til last.

For us, this has been the most impactful interview of all time!

 

Free Stuff Mentioned…

 

Here’s some of the stuff we talk about…

  • 02:52 — Meet Sam…
  • 03:09 — What was money like growing up?
  • 05:10 — The poem…
  • 06:04 — The incredible backstory
  • 08:11 — What triggered such massive change?
  • 11:00 — Warning signs…
  • 11:45 — Sam’s advice for people who might be going through mental health issues
  • 12:39 — How can you best help someone who is struggling?
  • 14:29 — How many mental health professionals has Sam likely worked with?
  • 16:59 — The pivot!
  • 17:41 — Wow — the foresight to do this was incredible!
  • 19:10 — The first property…
  • 21:05 — How did she rebuild her habits?
  • 21:40 — Her savings tips!
  • 22:32 — The biggest thing she’s learnt about money management
  • 23:24 — How many bank accounts did she have open?
  • 24:15 — Her money management system (and the infamous Word doc!)
  • 26:39 — How did the podcast come across her radar?
  • 27:53 — The first episode she listened to!
  • 30:45 — When you’re sceptical about professional advice…
  • 33:48 — What made her take advice?
  • 36:20 — How does it feel to have a Property Plan in place?
  • 37:44 — When’s her first investment property scheduled for?!
  • 39:33 — What if you don’t know anyone else who in invests in property?
    40:29 — What does Financial Peace look like for Sam?
  • 44:33 — Some wisdom from Sam to you…
  • 45:00 — The power of self-belief!
  • 46:23 — Mindset vs Mechanics – Which is more important?

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Sam?

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322 | When Wild Money Management Finally Gets Tamed! – Chat with Kellie

Three Words… Wild. Money. Management.

Three more words… But. not. anymore!!!

 

Our Summer Series continues and today we are interviewing listener Kellie

We’ve gotta hand it to her… not only did Kellie USED TO have some seriously wild money management going on…

Eg… Did someone say SEVENTEEN BANK ACCOUNTS OPEN!!??!!

… Kellie is an absolute free spirit in her own right, and her energy & enthusiasm is ABSOLUTELY CONTAGIOUS!!

Seriously. You’ll wish the podcast wasn’t audio just so you could be in the same room as her to get a dose of that amazing energy!! Don’t worry though, it’ll totally come through your headphones and we promise you this…you’ll be smiling from ear to ear!

To give you an idea… she had us laughing our heads off…so whoever said money management and financial transformation wasn’t fun, clearly had NOT heard this episode!

Strap yourself in folks, ‘cos you’re about to meet Kellie…

… and she’s going to deliver the hard and fast facts of her life that’ll have you giggling…

… if only ‘cos she says aloud what a lot of us are secretly thinking about our money habits…

You’ll enjoy this one.. we know we certainly did!

Tune in now to hear just how wild Kellie’s money management used to be… and what she did to tame it 😉

 

Free Stuff Mentioned…

 

What We Talk About…

  • 01:44 – Meet Kellie!
  • 02:01 – What was money like when Kellie grew up?
  • 02:58 – What a pair of runners taught her about money!
  • 04:29 – Was money spoken about at home?
  • 05:54 – “Mum’s Tip” to get kids out of home and into their own!
  • 06:41 – How to furnish an entire house for less than $200!
  • 07:43 – The Potato Farmer who changed everything!
  • 09:10 – What did she first do with her money?
  • 09:38 – Managing money while living a Gypsy Life…!
  • 10:24 – Living pay check to pay check
  • 10:54 – The secret to getting everything you want in life!
  • 12:55 – The bank account story (there was “at least” seventeen!)
  • 13:25 – What did Money SMARTS drastically change?
  • 15:08 – Whoops! The credit card…
  • 16:23 – How did she pay off the debt?
  • 18:48 – Tip for your kid’s bank accounts!
  • 20:58 – What was the catalyst for change?
  • 21:59 – Flipping their investment property…
  • 22:22 – Getting a Plan done… (And a QPIA’s reaction to flipping property!)
  • 24:39 – What did she think of Make Money Simple Again?
  • 25:25 – When seventeen accounts becomes ONE…
  • 27:34 – How long did it take to work out the “right” 7-day float?
  • 29:00 – How much time has she saved since using Money SMARTS?
  • 30:41 – How an investment-savvy mortgage broker helped!
  • 31:03 – Why is Kellie wanting to FLIP property?
  • 31:49 – The difference between advice and lending a hand…
  • 33:09 – A VERY IMPORTANT reminder about flipping property…
  • 33:50 – Horror flip stories ☹
  • 36:03 –  What’s the best way to empower people on their own money journey?
  • 38:13 – How to use Money SMARTS without a Credit Card
  • 40:44 – Why don’t they do the monthly check up?
  • 41:09 – How does she work out her irregular spend then?s
  • 42:07 – What’s life like when you have Financial Peace?
  • 43:20 – Monopoly in Real Life: How Kellie is now teaching her kids about money
  • 44:40 – Wild money management & 30-Page Statements!

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Kellie?

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320 | Are those Qantas Points Really Worth It?! The True Cost of Your Money Habits – Chat with Megan

Using a credit card to earn Qantas Points… is it even worth it?!

Folks, joining us today is listener Megan – and not only is she going to help us answer this exact question (… just wait ‘til you hear the reason it came up in the first place!), she is also living proof that your money backstory does NOT have to be your financial destiny!

This is a financial transformation no one should miss – we cover a LOT of ground, including… a backstory of Financial Hardship, learning the hard way about bad debt, setting new money habits, investing as a parent… you name it!

Megan was an absolute joy to interview and is extremely generous and transparent when it comes to sharing the truth of her story so others can benefit from it.

Highly recommend this one, folks!

And, yep, it might make you think twice about how you use a credit card!

 

Free Stuff Mentioned…

 

Here’s What We Cover…

  • 03:12 – Megan’s Money backstory!
  • 04:54 – Was it simply inferred that money was “tight” growing up?
  • 06:53 – Money differences between siblings…
  • 08:04 – Money differences between partners…
  • 10:52 – Using the same bank account from the age of 6!
  • 12:41 – How to have separate living and lifestyle accounts for each partner
  • 14:45 – Things to remember when comparing yourself to your friends
  • 15:56 – Who takes the lead on the finances?
  • 16:27 – Where does the “Why” come from?
  • 17:41 – When credit card debt spirals out of control…
  • 19:07 – How did she pay off all that debt so quickly
  • 20:15 – Techniques and tips to remove bad debt
  • 20:35 – Before Money SMARTS!
  • 20:44 – How much did they spend on going out for dinner?!
  • 20:50 – After Money SMARTS!
  • 25:25 – #1 Tip so you DON’T have to keep transferring money back and forth!
  • 26:11 – Are those Qantas points really worth it?
  • 28:33 – How is Megan running her provisionings?
  • 29:32 – Why was Money STRETCH so important for Megan and her partner?
  • 34:07 – When the mindset goes backwards…
  • 39:07 – The benefits of the MyWealth Portal
  • 41:27 – How many icy poles is too many icy poles? 🤣
  • 43:30 – The power of setting a long term goal/s for yourself…
  • 44:33 – How did they upgrade their home?
  • 46:43 – Considerations for a PPOR that will eventually be turned into an investment property
  • 50:05 – The importance of diversifying your portfolio!
  • 51:14 – Understanding the timing of our ABCD pillars of Mastery
  • 50:54 – What does Megan want you to know about Money SMARTS?
  • 58:28 – GREAT take home message!

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Megan?

Fill in the form below and create your account on our Money SMARTS Platform now!

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319 | From Poor Dad To Rich Dad – How To Wipe Out Financial Trauma Learnt In Childhood – Chat with Michael

What if you grew up in an environment where money was extremely tight? And what if this experience carried on into young adulthood, this time from your OWN financial decisions… up until something finally cracked and you said, “That’s it, I’ve had enough!”

What if you went from DROWNING in debt to FLOATING on Financial Peace… and finally cracked the code to break the family’s financial trauma cycle once and for all?!

Well folks, joining us today is listener Michael – and he knows EXACTLY what this financial transformation feels like… because he’s lived it!!

Here’s the deal…

On the last day of one of the most interesting years we will probably ever experience (good riddance 2020!!), we are interviewing someone who has, through no fault of his own, faced money challenges as a child… but then went on to become a young adult who survived on one can of tuna and slices of bread while snowed under some seriously bad debt…

… and now, through sheer grit and a reversing his money habits (and money mindset), OWNS three properties and has wiped out the financial trauma he learnt in childhood!

Yes… Michael went from having a Poor Dad…. to becoming a Rich Dad.

So, how did he do it?!

Tune in now to listen to learn how you can go from struggling to pay the bills to being an investor in complete control of your finances!

 

Free Stuff Mentioned…

 

What We Cover…

  • 03:04 – What was money like for Michael growing up?
  • 05:20 – Was his dad explicit about the money issues?
  • 06:06 – How did this background flow into Michael’s own money habits?
  • 08:34 – What sparked the desire to finally change?
  • 09:58 – The danger zone credit card story…
  • 12:51 – Where did he seek help to get on top of his debt?
  • 14:52 – “Psychological Sense” vs “Mathematical Sense” for what debt to pay off first
  • 16:02 – A tip to break negative habits
  • 17:35 – How did they afford a house deposit?
  • 19:35 – How did he discover The Property Couch?
  • 20:10 – Michael’s favourite property investing books!
  • 20:42 – Lessons Learnt From The Richest Man In Babylon…
  • 21:44 – What does Michael’s spreadsheet track?
  • 23:03 – What motivates Michael to be so “hands on” with his money management?
  • 23:34 – Why is Michael investing in property, anyway?
  • 25:26 – … The Big Rocks in The Jar!
  • 28:32 – Financial Trauma: Conscious & Unconscious Consequences…
  • 30:35 – How to resolve underlying money mindset patterns
  • 34:55 – What is Debt Recycling?
  • 35:36 – How to get the balance right to work out what’s really “enough”
  • 36:48 – Why No One Wants To Be The Richest Man In The Cemetery…
  • 37:34 – How to make compromises while still rewarding yourself so you stay the course
  • 38:12 – The property story!
  • 38:47 – Now, that’s sacrifice!! (Delayed Gratification in its finest form)
  • 40:20 – How many properties is he aiming for?
  • 40:37 – Asset Selection Mistakes
  • 44:38 – How does Michael’s Dad feel about all this? 😊
  • 44:56 – Should you take advice from friends and family?!

 

Note: There are more real-life investor stories like this in our Summer Series! Make sure you check them all out here.

Keen to Get Started with Money SMARTS like Michael?

Fill in the form below and create your account on our Money SMARTS Platform now!

Already have an account? Log in here.

 

 

 

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