X

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?? 

 

Get Moorr out of your money:
Log in or create your free account via the
Moorr web platform, or download the app on Apple and Android and transform the way you view and track your wealth. 

 

437 | The Biggest Danger people face when looking at property data

When it comes to property investment, data is a very valuable tool for making informed decisions. However, looking at single data measures can be dangerous, especially when it comes to something as complex as the housing market. To truly understand affordability and sustainability, we need to consider a range of factors and look at the bigger picture.  

Take median house prices, for example. This is a commonly used statistic that can give us a general idea of the state of the housing market. However, by itself, it can be misleading.  

Folks, in episode 437, we have the perfect guest to help us unpack all things property data, what to look for and the dangers of looking at single data measures. We sat down with Kent Lardner, one of Australia’s best and most respected property data analysts. Kent has over 30 years’ experience in the industry focusing on property data and analytics. 

We will be diving deep into:  

🔣 The Dangers of looking at Single Data Measures  

🔣 Looking at Median House Prices as a descriptive statistic 

🔣 Affordability – What To Look For 

🔣 Are Rent Rises Sustainable? 

🔣 Kent’s craft and How it Influences his Decisions  

🔣 And of course, unpacking everything going on in the market today  

You’re in for a massive episode today that’s full of knowledge and insights into what to look for when analysing property data! 

Tune in now or watch the episode below 😊  >>

 

Free Stuff Mentioned… 

  • Looking for an investment-savvy mortgage broker? 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… 

  • 00:00 – All the awesome stuff we’re covering today! 
  • 02:28 – Let’s talk about reviews… 
  • 09:24 – Mindset Minute…. Real estate cannot be lost or stolen 
  • 11:10 – Let’s welcome today’s guest…. Kent Lardner  
  • 12:58 – Just some of the reasons we are so excited to have Kent on the couch!! 
  • 13:18 – Let’s take a deeper dive into Kent’s money story growing up 
  • 15:10 – How humour in his family made growing up FUN 
  • 21:28 – The pivotal moment where things shifted from the sale of Price Finder!! 
  • 24:12 – RBA announcement – what does it mean? 
  • 32:07 – What does it mean for us folks when listings pause? 
  • 34:10 – The Dangers of Single Data Measure 
  • 34:47 – Unpacking Suburb Medians 
  • 35:04 – Utilising Time Trendlines… How things change over time 
  • 36:30 – SA1, SA2 and SA3…. What does this actually mean? 
  • 39:37 – What’s the big story??… 
  • 42:31 – New stock being released and the impact it has.. 
  • 43:32 – Volatility through time.. 
  • 44:13 – Hedonic indexes and accounting for variances 
  • 45:38 – Buying at property level, not suburb level 
  • 46:25 – Is the market tanking??? 
  • 46:42 – Why it is important not fall into the hysteria 
  • 47:30 – Creating confidence in analysing the data 
  • 47:32 – What data to analyse… 
  • 48:36 – Prices are tough… Why to look at listings!! 
  • 49:40 – Is a price crash looking likely? 
  • 50:15 – AFFORDABILITY…. What to look for! 
  • 53:02 – Why Rent rises are NOT sustainable 
  • 56:25 – Census data or CHAT GBT?  
  • 59:20 – What happens if markets detach from locals 
  • 1:04:20 – Kents Evergreen Metric for long term suburb growth 
  • 1:05:30 – How to correctly use Census data 
  • 1:06:15 – Using employment categories to analyse data 
  • 1:06:50 – Is it a solid rental market? 
  • 1:15:40 – How does mastering Kent’s craft influence his decisions 
  • 1:16:29 – What is causing Kent’s ANALYSIS PARALYSIS 

And…   

    • 1:18:00 – Thanks so much to you Kent for sharing your amazing knowledge  
    • 1:24:00 – Lifehack: Did you know about The Apple Focus function?? 

 

Get Moorr out of your money:
Log in or create your free account via the
Moorr web platform, or download the app on Apple and Android and transform the way you view and track your wealth. 

 

428 | What is your WealthSPEED?

Why do folks struggle with good money management?   

It’s a huge question. Now here’s an even bigger one… 

How can they overcome it?!   

Yep. We’re kicking off February with some pretty big and bold content!

With many new year’s resolutions fading into the background of life as January comes to an end, we’re aiming to give you an extra boost of motivation by diving into the 3 biggest causes of bad money management (do you fall into any of these?) and revealing how to tackle and triumph these challenges in 2023!  

And since this podcast is all about giving you the insider’s guide to property and money management, we’ve got 3 special gifts from our Moorr money management platform to help you do just that…

Introducing the WealthSPEED, WealthCLOCK and WealthTRACKER.   

Tune in now to find out how these next-generation financial tools will transform the way you view and control your money and let us know your answer to today’s questions…

What is your WealthSPEED??  

(Leave your answer on our socials or send us a message 😉!) 

 

P.S. Want to learn more about these awesome tools? Check out our Moorr Wealth Dashboard “handbook” here >>  

 

Free Stuff Mentioned… 

  • Want to know your WealthSPEED? Find out by visiting Moorr’s web platform, or download the app on Apple and Android and completely transform your understanding of wealth-building today.
  • Learn more about WealthSPEED, WealthCLOCK & WealthTRACKER here >> 
  • [Free Book] Make Money Simple Again: Learn the foolproof money management system we talk about in this week’s episode. We promise you’ll find a surplus in your bank account every single month. Get your copy here >>
  • Exclusive Masterclass: We’ve been receiving so much positive feedback on our new Masterclass! (Thank you to all who’ve attended so far.) Learn the #3 secrets behind building a property portfolio and retiring on $2k a week today by reserving your seat here >> 
  • Sign up to our YouTube Channel: 2023 is the year we’re going to start pumping out tons more educational content! Stay in the loop by joining our YouTube community and be the first to know. 😊
  • Listen to Ep 200 | Paul Clitheroe – Timeless Wisdom from the Original “Money” Guru 

 

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

 

Here’s some of the gold we cover… 

  • 0:00 – Welcome back 😊  
  • 1:14 – Wow, what a series! (+ what’s in store next week…)  
  • 3:59 – February is the perfect space for this. 
  • 5:25 –🚨 Your internal trigger is a powerful thing folks! 🚨  
  • 14:24 – The 3 things you’ll discover in this episode  
  • 18:12 Why most households are challenged by good money management (Reason #1)
  • 22:22 – Reason #2 – This goes back to what Ben says EVERY episode!! 
  • 25:54 – So, why don’t we learn this at school?!  
  • 30:03 – Reason #3 (aka. The biggest reason why people don’t achieve financial peace)  
  • 33:16 – Subjectivity is where the danger lives folks!  
  • 36:03 – …and THIS is what you gain!  
  • 38:37 – The money management system we started with and still believe in!  
  • 40:22 WealthSPEED: Your Speedometer 
  • 41:45 – This is your Wealth Creation Car 🚗  
  • 44:28 – Why this is the ONLY financial metric you’ll ever need  
  • 46:51 – How it all began… 
  • 50:01 – WealthCLOCK: Your Odometer 
  • 51:22 – WealthTRACKER: Your GPS  
  • 53:19 – If you are like THIS, then these tools were made for you!!!  
  • 54:04 – How these tools help you SMASH bad money management!  
  • 59:04 – These are the kind of people we’re coming after!  
  • 59:52 – For our clients who’ve got a plan… 
  • 1:02:12 – We want to make money management as simple as possible so check out these resources too!  
  • 1:08:14 – Google Flights: Is it worth the hype? 

 

Discover your WealthSPEED today! Check out the Moorr web platform, or download the app on Apple and Android.  

 

TPC Summer Series 2022/23 is HERE!

It’s finally here folks.

It’s the time of the year we’ve all been waiting for (that’s almost better than Christmas 😉).

Today we’re kickstarting our 2022-23 Summer Series!!!  

And boy do we have a FANTASTIC lineup of guests for our 5th Summer Series, each with their own absolutely amazing, jaw-dropping stories which are all about this year’s theme… 

What Drove You To Act! 

Inspired by the crux in every movie.

The inspirational light bulb moment.

The Penny Drop “A-ha” moment.

These are the pivotal moments that every successful investor has faced on their investing journey.   

From their origin story to their darkest-before-dawn moments to their “rising from the ashes”, this year’s Summer Series is one you DON’T want to miss folks… 

 

Here are all the episodes! (P.S. if the link is not available, that’s because the episode is not out yet 😉) 

 

P.S. And if you’d like to see an accurate snapshot of your money story and financial position, we’ve just released Moorr the App!! Take your great money habits with you wherever you go and stay focused on your Lifestyle By Design.

Check it out in the Apple store here or on Google Play here for Android users. Or, if you’d like to view it in a web browser, log in or create your FREE Moorr account here to get started!

 

415 | When Do Out-Of-Pocket Costs Become Too Much?

One person doesn’t know if their properties are worth the out-of-pocket costs. 💸 

Another couple isn’t sure if they should strike when the market is hot….or if it’s best to wait. 

And another investor just wants to know, ‘Are we absolutely sure that Queensland’s Land Tax is off the table?!?’  

 

We’re back with another mega-exciting Q&A Day that speaks to the Psychology of Investing, especially in an environment with rising costs and interest rates. 😮  

From the common mindset blocks that investors face (like loss aversion and sunk cost) to how you can carve a path for yourself when you just don’t know what to do next…  

We’re unpacking why investing isn’t for everyone, the Quality of Living trade-offs, how and why you’d want to split your variable and fixed rates and tons more wisdom!  

Basically folks, this episode has a bit of gold (and anxious feelings) that we can all relate to.  

PLUS, Bryce and Ben unpack and explain CoreLogic’s recent release on the 2022-23 Federal Budget and what the RBA’s recent rate hike reflects about us as consumers.  

Another fantastic episode filled with your awesome questions, tune in now folks!  

 

 

P.S. And if you want help identifying the next step on your investing path, book a free, 100% no-obligation consultation with our award-winning team of Property Investment Advisors here.  

 

Questions We Answer

Question 1: Anonymous on Confirmation that QLD Land tax is off the table 

Hi Ben 

I’m a property investor contemplating my next purchase.  

I heard that due to lack of support QLD’s premier has had to back-track on her proposed new land tax which would see the subject tax calculated on one’s total Australian land holdings (where before was only based on holdings in QLD).  

Reason I am touching base is the QLD premier stated she would have to revoke the proposal and would have to be tabled and passed in parliament. Not understanding this process, I wondered if you might know whether the proposal has been formally revoked and/or if you can advise how or where I could direct this enquiry to obtain absolute proof this land tax is now off the table.  

LOL, there is no way I would want to proceed buying in QLD knowing the new land tax could send me broke.  I need to see it set in stone.  😂 Thanks for any help you can offer. 

 

Question 2: Travis on Out of pocket expenses to maintain to IP 

Hi gents hope you are well. 

My question and advice relates to out-of-pocket expenses for me to hold 2 investment properties, because at the moment after all costs and tax rebates I’m around 15-18k PA out of pocket. I own a ppr and have a vic & qld IP.  

My Moorr platform is up to date and has me in the surplus of 4K per month but only at the moment. 

My issue is I don’t see current benefits with the high out of pocket expenses which are only going to increase & a couple of costly expenses to address on each property with water issues one being a requirement to put in a pit drain to tackle storm water and the other a fixed awning to combat heavy rain over a balcony, 4K and 3.5k respectively. 

With all this expense and the impact on quality of life due to concerns of having to pay for the next big cost I wonder if it’s even worth it. 

I have spoken with my advisor and informs me it’s ok but I wonder if this is sustainable or do I sell out for a more comfortable quality of living. 

I appreciate that there is some sacrifices but 15-18k YOY with little prospect of that moving to a favorable portfolio holding I just don’t see. 

To add there will be continuous improvements to spend in the coming years just to keep up with the age of the properties and keep them fresh I don’t feel rental increases will help the catch up. 

Please share your advice and thoughts. 

 

Question 3: Rose on A question on paying investment loans 

Hi Ben and Bryce, 

This is Rose, I love the podcast and have really enjoyed the personal stories in your summer series. I’ve never heard of financial anorexia before, but I definitely have it. So I was wondering if you could give me some guidance. 

I bought a small investment property August 2021. I had a lucky guess that interest rates where going to go up sooner than the RBA was suggesting, and I fixed the whole loan at a lower rate than the bank offered for the variable. 

However, this means I don’t have an offset account and I’m only aloud to pay off extra up to a limited amount per year. 

This is an investment loan, and the property is positively geared. 

I’ve heard old adages about how you shouldn’t pay off investment loans because they’re tax deductible, but the saver in me wants to pay down the loan. 

So I’m asking you two as the experts, should I still pay off extra on my property investment loan now, while I have a low rate for a few years, or just keep paying back the minimum and invest the extra money elsewhere?
 

Question 4: K on Using equity – the now or never mentality 

Hey gents,

Thirty-something female listener here from Sydney, and big fan of all your work. You made lockdown liveable – thank you.

While I have met with one of your team already for a free consultation, I have to say I am finding taking the plunge my biggest challenge

My partner and I will be having a baby within a year, and have some modest “rainy day” savings in our offset – which took a few years to build. We purchased our home (PPR) in late 2020 and also have an investment property (unit) in Sydney purchased in 2018.

We now have a window of opportunity to use the equity in our home and investment property to buy our next investment and scale up.

I note in a recent Q&A episode you talked about borrowing capacity (for some) decreasing over time and becoming a tad harder, plus the mortgage environment will be generally more challenging with interest rates hikes etc.

I am not afraid of the macro changes going on in the world too much, but the ultimate question is: do we strike while the iron is hot, or wait?

The challenges ahead aren’t small (new human on the way, parental leave considerations, reduced income, rising interest rates etc)?

Please help.
K, Sydney.

 

Free Stuff Mentioned… 

  • Other Episodes Mentioned:  

 

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

 

Here’s some of the gold we cover… 

  • 0:00 – This week we’re tackling… 
  • 1:21 We’ve had a MASSIVE upgrade to our Lifestyle By Design platform!! Check it out here.  
  • 7:44 Quick Recap: CoreLogic, the RBA rate hike & Hot Property Data 
  • 10:33 – Feeling uneasy? This is what you should do. 
  • 13:02 Here’s how a previous TPC Guest is implementing our lessons…. 
  • 16:01 Why you should chase your curiosity!  
  • 17:28 Q1) Confirmation that QLD Land Tax is off the table 
  • 18:35 The process behind amending legislation like this!  
  • 20:40 Off-Ramping: Why you shouldn’t be concerned…. 
  • 24:03 Q2) Out-of-pocket expenses to maintain an IP 
  • 26:00 This a classic conundrum that investors face…  
  • 27:56 The Psychology of Investing: Sum Cost, Loss Aversion & Comfortable Quality of Living 
  • 29:06 – Over the long term, THIS disappears… 
  • 30:25  Here’s how Travis can face his anxiety 
  • 31:47 THIS is why some people aren’t suited to be property investors
  • 33:28 “You don’t believe it”  
  • 36:45 Why investing is just like a bottle of wine… 
  • 39:16 Q3) A question on paying investment loans 
  • 40:19 What is Financial Anorexia?  
  • 41:20 Some of the catches to consider…  
  • 42:49 How to split your variable and fixed rates  
  • 44:18 Ben’s Answer (In theory)  
  • 46:01 What’s the benefit of going part-variable?  
  • 46:51 Q4) Using equity – the now or never mentality  
  • 48:29 Why you should focus on long-term horizons!  
  • 51:04 How to find your pathway forward…(Psstt…if you’d like help with this, why not book a free, no-obligation consultation with one of our highly qualified Property Wealth Planning advisors here.)  
  • 54:30 The 3 Golden Dials!  
  • 57:03 – How we make the “Invisible, Visible” 

And… 

  • 1:01:47 Made a mistake on your iPhone calculator? Here’s how you can wipe your last move 
  • 1:02:58 Why Re-grading Property Investment in Cairns is outrageous!  
  • 1:08:08 Keep the Qs coming folks! Submit them on Speakpipe.  

 

Instagram

Free Resources

What to be notified when there are
new updates & free resources?

  • This field is for validation purposes and should be left unchanged.

×

MONEY SMARTS SYSTEM

Plus We Will Also Notify You When We Release New Episodes

We Only Send You Awesome Stuff

×

SUGGEST A GUEST!

We Only Send You Awesome Stuff

×