X

Episode 333 | Are We Property Spruikers?

Right. Let’s have the uncomfortable conversation – is The Property Couch just a platform for another couple of Spruikers to push property on you!?!

Look, we get it… this is a fair question to ask. One we recently received recently from a listener! And, who knows, maybe it might even be something weighing on the back of your mind as well.

So… Are we Property Spruikers?

Listen now, and you’ll hear our answer… we’ll leave it in your court to decide what you believe to be true.

Just a heads up – this is a Q&A episode, folks! So, while we definitely strip down to the bare bones on whether or not we are Spruikers, we’ve also got a couple of other themes in store for you…

 

 

Free Stuff Mentioned

 

The questions we answer…

Question about “Are WE Property Spruikers?” from Daniel/RIPPAA

Massive fan of your show, which leads me to my questions regarding in particular Episode 325 – How to buy on a hot property market.

Listening to your show for quite a while, I’ve found that you guys always seem to advocate for property being an effective means of investing. However, sure you’ve got to be in a point in time where that is not the case. Investing in shares & stocks, generally speaking was probably not the best idea, what about property? You guys have done episodes on warning against spruikers and so I’ve been having concerns about, “What about The Property Couch then – does it fall under that category?”

However, until you guys did this recent episode 325, which to be honest was very refreshing to hear that acknowledgement of you guys just really giving that message of warning of cautioning I should say against buying at this point in time which I really appreciate,

that message of you guys caring about the community really came through. So my question is when do you guys see, at least a minimum point in time, until which the market is gonna change and sort of calm down a bit?

 

Question about Land Tax from Bruce Adkins

Hi Bryce and Ben. My question is about land tax. After starting out with a passive ‘buy any hold’ strategy, and then moving on to some renovations. I have finally landed on a strategy 3 or 4 years ago of buying splitter blocks, knocking down the existing house, subdividing into 2 or 3 lots, and then building new homes on each lot. When I can afford to, I keep the new houses and rent them out I do. Occasionally I need to sell one or more of the houses to assist with cashflow, or to help fund the next project. All my properties are in Brisbane and surrounding areas as I feel the need to touch and feel the sites and keep an eye on construction, etc. Early in my property investing journey I did invest in a location distant from my home. After a little bit of research and a quick flight to inspect, I purchased the property and the whole experience was a disaster, made worse by not being around when things went wrong. This experience convinced me that I need to invest in my own backyard, and my current, more active investment strategy reinforces the need to invest locally.

My current portfolio is now more than a dozen properties with an unimproved land value of around $8 million, and the annual land tax bill is really starting to hurt.

Apart from investing in different States (which I will find hard to get my head around), Do you have any other strategies for minimising the land tax impact of a large and growing portfolio?

I love your podcasts and would love any ideas you have for easing the sting of land tax.

 

 

Question on Lenders Mortgage Insurance (LMI) from  Francis Rivero

Not really a question but I would like to hear your thoughts on the following:

My wife and I bought a PPR in November 2018.

  • Purchase price – $345,000
  • LVR – 90%
  • LMI – $9700

Through making extra repayments and recovering a strong valuation result yesterday ($420,000) we are now sitting at 72% LVR just 2 years later. I realise this is just the way it is but I can’t help feeling like $9700 is a huge amount of money to pay in order to protect the bank for such a short time. Fair enough if we are still 5 years off getting down below 80% but I’m sure this happens to lots of people who buy well and are diligent with their money. Like I said, no specific question but would love to get your take on this.

 

Question on Being Gazumped from Matt Rose

Hi Ben, Bryce and the great Stig. I’m looking for some advice as my wife and I have been left disillusioned by the property system while trying to buy our 2nd investment property, this time in Melbourne.

The sequence of events went like this – we put in an offer on contract and put down 5% deposit, the agent phoned to say the owner has accepted, the agent then proceeded to shop our offer around telling everyone our exact price, the agent then entered into some sort of silent blind auction and sold it to someone else last night without coming back to us on the new price even though they told everyone else our price. Is this illegal or unethical and if not, how do we as a community vote to put better rules in place to protect the consumer?

 

 

 

 

Episode 327 | Winning A HOT Property Market (Part 3) – The Step-By-Step Process!

The final part of our mini-series: “The Step-By-Step Process To Win In A HOT Property Market” has landed!

Just in case you missed it…

LAST TWO WEEKS ON THE PROPERTY COUCH..

  • Episode 326 was all about The SEARCH for the property and The DUE-DILIGENCE around the search and the finance (lending) for that property!
  • Episode 325 was about GETTING STARTED! Nailing the brief, how to get your FINANCE ready,

 

And this week is all about…..

MAKING AN IRRESISTABLE OFFER!

Doesn’t matter if it’s an offer prior to auction, post auction or even a ZOOM auction…

We’ll be sharing practical, real-life and tested tips and tactics on setting your offer limit, the tone of voice to use, replies to common agent feedback, body language and more!

And of course…. What happens after the offer gets accepted?! If you think that you’ve signed on the dotted line and that’s it, you couldn’t be more wrong.

It’s not over until the keys to the property are in your hands and you can officially walk in without being considered a “trespasser” ….

We’ll be unpacking the mistakes, the last minute paperwork, the forgotten things and the follow-ups that a diligent buyer needs to do after signing the contract because let’s face it…. You’ve done so well to secure a property, you DO NOT want to stuff up the final leg.

 

Free Stuff Mentioned…

  • (AUDIOBOOK) The Armchair Guide to Property Investing now available on Audible & other audiobook platforms! And you can also get it at a discount here.
  • Real Estate Agent Series – Listen here

 

Here’s What We Cover…

  • 9:42 – The FOUR overarching themes to be in a position of making an offer in this seller’s market
  • 10:31 – One thing that you DO NOT WANT TO COMPROMISE ON at all to get the property
  • 13:43 – In a HOT Market, you may need to make THIS decision before you even inspect the property. But are you in the right headspace to do that?
  • 15:47 – The due diligence that you can do on the property BEFORE the open day
  • 16:49 – How quick should you really go if the property is the one?
  • 18:34 – If 6 months comparables are considered “old data” in this market… how do you even set a price or work out your offer/stretch?
  • 19:05 – The three price levels that you need to know when buying a property
  • 22:10 – What questions can you ask a competing (but friendly) agent who lost that listing?
  • 23:50 – Two professionals in your A-Team that needs to be on standby before you go to an open
  • 25:00 – Critical, Important and Nice-To-Haves in a contract – Which ones are worth taking a risk for?
  • 32:13 – Offer Prior to Auction – How to get one and be ready for it?
  • 32:30 – Boardroom auction – Is it still common these days and what’s the mystery behind it?
  • 36:13 – The real boss during an auction and what role you want to play to make sure you are in their favour?
  • 37:34 – Zoom Auction – Getting the art of body language right! (Yes, even if it’s online!)
  • 40:54 – Ben’s real-life story of losing the auction but still winning the property!
  • 43:23 – Making an Informal vs Formal Offer in current market prices
  • 43:51 – Top 3 questions to ask a RE Agent during an inspection to show that you’re in the game
  • 44:50 – The NUMBER ONE question to ask yourself when it comes to setting a price..
  • 45:47 – Your script to the real estate agent >> “I’m not asking what they’re offering, of course you’re not going to disclose that to me. But ultimately what I am saying here are two things. One, if you ______”
  • 48:32 – The CONDITIONS that you should include in a seller’s market to give you an added advantage 😉
  • 50:15 – The Competitive Tension of NOT being Conservative vs Legitimate.
  • 50:50 – Having THIS productive conversation with your broker and how to explain the nature of a hot market to them
  • 52:26 – The exact questions you should ask your investment savvy broker and understanding the pros and cons of the different buying ranges
  • 54:53 – When is it alright for you to jump up the risk spectrum?
  • 56:55 – THIS is not an escape clause. Don’t dance with the devil thinking you can use it.
  • 58:09 – Tips on taking away the vendor’s pain
  • 1:00:57 – Settlement – how to make sure it does not fall over?
  • 1:00:57 – Bryce’s (or rather Adit’s) Apple Lifehack!
  • 1:08:23 – Ben’s What’s Making Property News on times when the Property Market went “crazy”

 

 

Episode 177 | Get Rid of Settlement Headaches Once and For All – Chat with Lisa Dowie

No one wants their most expensive decision to be fumbled, delayed or up-in-the-air come D-day… so today, folks, we’re giving you the settlement solutions BEFORE you need them!

And it’s a little bit like taking a peek into a future that’s just around the corner.

How do we know? Well, joining us today is Lisa Dowie, Chief Customer Officer at Property Exchange Australia Ltd (PEXA), Australia’s online settlement platform. No, she didn’t arrive by a hovercraft or drop in via teleportation, BUT, yes, she’s talking about the digital future in settlements that’s here (and in use) right now and WILL take over the simple A4 paper and pen in less time than you think.

Think digital signatures. Think e-Conveyancing. Think transfer of titles in minutes, not to and froing between your conveyancer, mortgage broker, lender and everyone else involved in making that property officially yours.

In a nutshell: the online property exchange network lets us lodge documents with Lands Registries and complete financial sentiments ELECTRONICALLY. Yep: PEXA is property transactions through the wonder waves of tech territory!

So we’ve got Lisa on to tell you the latest and greatest in property — like what specifics you need to know for a smoother settlement process, why buyers and sellers need to welcome the digital shift and, let’s be honest folks, WHEN all this is seriously going to rock the boat.

 

But before we tell you what you’ll get out of today’s knowledge-packed segment … we have a huge big announcement. Yep. Huge and Big.

WE’RE DOING A LIVE PODCAST IN MELBOURNE!!!!

Free Live Podcast in Melbourne — CLICK HERE to Find out More

It’s true, folks! Our tribe of listeners who came to our Sydney Live a couple of weeks ago enjoyed hearing us ramble on about property investing SO much we thought, hey, we’ve gotta be fair to our hometown of listeners!

Our Live Podcast in Melbourne is happening on Thursday, July 5th at 6:15 pm – 9.30pm. We’ve even dedicated time on the night to have a chat with you, hear your story and give you a high five before we give you some red hot property, finance and money management tips!

BOOK NOW to Reserve Your Seat – Limited Seats Available

 

Huge Big Announcement over and out! So, back to today’s show.

 

Here’s what you’ll learn:

… or last month in May, say?

  • What date can we expect ALL transactions to be in digital form?
  • Does title theft happen?
  • What’s the benefit for the vendor?
  • What’s the benefit for the purchaser?
  • Should you ask property professionals if they use PEXA? Why?
  • What’s the app, SettleMe?
  • What’s happening to land title reservations?
  • What else is new in the tech space?

 

Episode 176 | How to Prioritise Your Property Investment Journey and Still Have a Life — Sydney LIVE Podcast ft. Q & A

If you’re reading this, you’re probably keen on property investing — regardless of whether or not you’re a beginner or a multimillion-dollar property portfolio owner… or somewhere in between.

And chances are you also like to have a life too, right? Because folks, at the end of the day, while hard work’s rewarding and a passive income’s exciting, there are also other factors competing for your time and attention, and — let’s face it — other things you’d prefer to do, like put your feet up (and watch the Pies and the Dockers if you’re us), or simply relax with your loved ones doing what YOU love most.

Realistically folks — if you invest in property the right way from the get-go, you shouldn’t have to sacrifice your life. It’s that simple. But it’s not always easy to get this balance right.

So, that’s where today’s VERY SPECIAL episode comes in. Yep, it’s very special because…

  1. It’s OUR LIVE SHOW IN SYDNEY where we answer our Property Couch Tribe’s questions… which just might be very similar to the ones YOU have!
  2. It’s a LIVE GUIDE to help you prioritise your property investment journey AND still have a life!!

 

Yep. Reclaim market confidence, get through the “messy middle”, cut the noise and let’s get some good ol’ honest advice!

 

*** Oh, and folks — make sure you tune in till the end for a special announcement from Ben! ***

Back to today’s questions answered at OUR LIVE SYDNEY PODCAST…

Question about Staying the Distance from Louise:

My single biggest challenge with my property investment journey has been keeping the momentum and not getting distracted or bored along the way. Property investing for the long term seems to sometimes move at a glacial speed and it’s easy to get a bit disheartened when you don’t see obvious progress. It’s also easy to let life get in the way and not prioritise my investment journey. I delayed on a purchase by two years (missing out on some great capital growth) because I was distracted by family and work life.

 

Question about Location and Investing in Cashflow from Yuna:

Ben and Bryce always talk about how location is the key and that most of the time 80% of the lifting is done by location. If my property investing strategy is cashflow rather than capital growth due to my circumstance; how do I apply the location theory to this equation? Or does location come first or my strategy during the suburb research?

 

Question about Off the Plan and Exit Strategies from Jeremy:

A ‘friend’ (who may or may not be me…) has purchased an off-the-plan, high-density unit, in Brisbane’s middle ring northern suburbs — 10km from the city. The area has a Westfield, a hospital and a bus line, but isn’t within walking distance from any of the new transport infrastructure projects. The build date has been pushed back from 2018 to 2019, because the developer, who was also the property spruiker, had difficulty getting pre-sales. Since that time I (or my friend) have discovered The Property Couch and have listened to as many back episodes as possible. It’s obvious to us that we can pretty much check off every mistake in the book. The spruiker was selling in Sydney with a focus on bling, tax depreciation and yield. The suburb is not investment grade. The property is not investment grade. Lifestyle drivers are not there. Income is lower than the QLD average. And so on. The unit was sold with a vendor discount: “stamp duty paid,” (yes we know…now), so on settlement is likely to be valued significantly less than the purchase price. With the over-supply situation that exists in Brisbane and Brisbane-North’s very low population growth rate (1%), what, if any, exit strategies exist?

 

LIVE Question about Knowing When to Stop:

How do you know when to stop investing in property? Because it’s pretty addictive!

 

LIVE Question about The Budget Changes to Tax Depreciation:

This is a bit more of a specific question, around the latest budget changes around tax depreciation. I have 2 properties that were purchased prior to the changes— so I have depreciation reports, and claiming all that’s all good. But I have bought 1 that settled with the changes the latest budget. I’ve heard on various podcasts about being able to claim the cost of plant and equipment as capital gains at the end if you sell, but I don’t understand the connection between these? Do I need a tax depreciation report for a property purchased after the budget last year to know what I owned when I purchased it to at the end when I sell it?

 

LIVE Question about Spruikers and Not Knowing How What to Do:

I’ve got a friend who is helping people buy property in Brisbane — they’re friends of ours — and they’re Off the Plan stuff, just terrible stuff really, and he works for a company where they deliberately fence people in, cross-collateralise, deliberately put them to their Buyers Agents who are hooked up with developers, and it gets me a bit angry. I can’t do anything about it because I have no credentials — I’m a Tradie — but I’ve been listening to your podcast for a number of years and I do have a lot of knowledge. Do you have any advice for someone who is witnessing these terrible things happening to people that I care about?

 

P.S. Want us to come to your city? Let us know what state/territory you live!
(We promise not to stalk you)

P.P.S. Want our industry to be regulated so we can get rid of the spruikers and dodgy investment advice? Join PICA  it’s only $5 for 1 Year Membership!

 

 

Episode 175 | Five Foolproof Ways to Conquer your Finance in this Changing Landscape

What an episode we’ve got for you today, folks!! We’re letting you in on the 5 FOOLPROOF WAYS to conquer your finance!! Yep, we’re dead set serious. Why? Because we know in this day and age it can be a little more challenging to get a loan than it used to be!

With APRA’S handbrake on the lending sector, what banks look for can mean you’re jumping through a few more loops just to get approval…  so are there ways to make getting finance easier??

… We think there ARE.  And that is what today’s episode is all about — ways to boost your lending potential. We’ve scoured the corridors of our business to give you some Mortgage Broking Secrets AND a few little odds & ends of our own!!

So … what do you need to know?

 

 

Also folks, don’t forget,

… we’re chasing your MONEY HACKS and FEEDBACK on The Money SMARTS System (good & bad) so you can get the biggest benefit from our new book coming out!!!

CLICK HERE to send us your Money Hacks & Feedback

 

 

 

 

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


  • Are you also interested to have a better understanding of your cashflow position via our FREE Money SMARTS Platform?

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

We Only Send You Awesome Stuff

×

SUGGEST A GUEST!

We Only Send You Awesome Stuff

×