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RBA November 2019 – Signs that the Economy may be on the Up?

After three cuts this year alone, will we be expecting a fourth cut? It’s the first Tuesday of the month folks which means the Reserve Bank of Australia has just released their official cash rate!

And it looks like there are a bit more positivity coming into the economy! Here’s what Ben will be unpacking in this month’s session:

  • What’s happening in the US and the Fed Reserve?
  • Update on the US-China Trade Deal and how it’ll impact the rest of the world
  • The IMF Global Forecast for 2020
  • Where is Australia’s inflation trend going and where does the RBA wants it to be
  • Newest update from CoreLogic Housing Market Index
  • How’s the construction activities performing and will this improve the housing market?
  • Are there any positive bounce in consumer spending and sentiment following the tax incentives?

 

 

 

DISCLAIMER: This podcast is general information only and is an opinion comment by Ben Kingsley. The information contained in this video is for Australian residents only. The information does not take into account the particular investment objectives or financial situation of any potential viewer. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.

The Property Couch, its employees or contractors do not represent or guarantee that the information is accurate or free from errors or omissions and therefore provide no warranties or guarantees. The Property Couch disclaims any and all duty of care in relation to the information and liability for any reliance on investment decisions, claiming the use or guidance of this publication or information contained within it.

For more information, please visit: http://thepropertycouch.com.au

Episode 253 | Top Tips For First Home Buyers

It can be a rough ride when you’re just starting your home ownership journey — and trying to get your foot up on the property ladder is, let’s be honest… really hard!

So today’s episode is all about helping our “Firstie” folks! That’s right… our very First Home Buyers!!! And we’re going Q&A style so we can stretch out the ol’ helping hand to our Firsties, and our Mums & Dads of Firsties, and haul all of them up on the ladder with us!!

And if you’re scratching your head thinking, “I’m not a first home buyer, or even a parent, family member or friend of one…” — no probs. You’ll learn what it’s REALLY like to face today’s property market for the first time… and you might just pick up some tips that you can actually use on your own journey… or just pick up some nuggets of new gold and file these away for when you want to impress someone with your property and homeownership knowledge. (Suss below for a summary of what we’re discussing and the exact questions we answer in today’s episode.)

 

You’ll learn Top Tips, like these…

  • How Much Of A Deposit is Enough? (seriously.)
  • The First Home Buyer Scheme
  • The Best Way To Get Ready For A Mortgage
  • Credit Scores
  • Higher Yielding Properties vs. Capital Growth Properties
  • How A Single Woman Can Get On The Property Ladder

 

Free Stuff Mentioned + Extra Support…

 

The Exact Questions Answered in Today’s Show…

Question from Jake

So we have bought a lemon!!! We have purchased a lemon, it’s been fantastic as it’s high yielding and we have a low income as I’m still studying. But I’m about to graduate and are unsure if we should move the money into a more balanced property, or if the cost of selling etc, will just lose too much money? The struggle is even when I graduated we will both be on fairly low incomes so, is a high cash flow possibility a benefit for us? Thanks for your time. I love the podcast, I’ve read the book and I’m excited for what the future holds!

 

Question from Joel

Hi Bryce, Ben and Stiggy. I am currently studying at university and working two jobs (48hrs a week) to support my partner and newborn and have been utilising the First Home Super Saver Scheme (FHSS). I’ve used this for two reasons one for the salary sacrifice tax saving, but to also reduce my taxable income to minimise my Help/HECS Debt repayments whilst studying. I’m saving $750 into the scheme per month, and have approximately $10k in total at the moment.

Because The Liberal Party introduced the new first home loan scheme at the last election, I have been worried that they would wind up the FHSS before I could access my savings, essentially locking it into my superfund. This would set me back in savings by 3-5 years. Do you have any insight into this?  I understand that your advice is general in nature, and isn’t directed to my personal standings, but would you be utilising the FHSS if you were a first home buyer? Thanks, Joel

 

Question from Tom

Hi Guys, Love the podcast, found it recently and have already gone through 70 episodes (bit of a way to go!). I’m currently in the process of purchasing a PPR for $550k. I’ve saved around 15% as a deposit but will be using a parental guarantee as collateral to free up my deposit amount for a value-add renovation and as my buffer going forward. My mortgage broker has suggested a P&I loan with an offset account, but has suggested an interest only loan isn’t possible with a parental guarantee as the bank likes the debt paid down to release the second (parental) mortgage. Is this the case? Can the guarantee be released on money in an offset, or is the only option waiting for debt pay down till the release at which point the loan is refit to an IO loan?

 

Question from Kelsey

Hey, just wanted to flying the flag for young females. I’m a new first homeowner. I’m 28 and a primary school teacher, and bought a two bed unit (1960s) in East Sydney (20 mins from CBD, 15 from the beach) in June. I paid $520,000 (negotiated from $549,000) and plan to rent it out and live closer to work in the CBD after January – I’m living here for the first 6 months to avoid stamp duty and do a little cosmetic work on the place. To save for the 15% deposit, I’ve always worked my regular job, and weekend work or afternoon work alongside it. Man, it has been hard work clocking up the hours and saving, especially in an expensive city and wanting to enjoy life on the weekends with my friends as well.

However, a weekly savings plan, and just always living a pretty simple lifestyle below my weekly earnings got me here. On top of that, I just competed my Masters of Education, which also has taken a bit of money and time – and tracking the property market takes a fair bit of time investment! Additionally, I’ve travelled overseas every year for the last 3 years to volunteer teach in countries like India, Indonesia and Fiji so I haven’t been too strict in saving everything I earn. Basically, I wanted to show that even a young single female can be a homeowner in the current 2019 property market. It took more than money, but great friends with advice, a lot of courage to just jump in and do it, and of course the invaluable help from your podcast. The reassurance I felt from listening was invaluable.The journey so far feels surreal as for so long media has banged on that’s its impossible. It’s definitely hard, but doable. Thanks again, Kelsey

 

Question from Ryan

I am 23 with roughly $36,000 in the bank. I will start full time work in my graduate role at the start of 2020 and am hoping to buy my first investment property within the year. What is the best way to get ready for my first mortgage? Should I get a credit card to improve my credit history as I have never required one to date or are there any other recommendations to make your case more appealing to the banks? How long in advance of a purchase should I contact a mortgage broker and would it be beneficial to start a discussion with them before I am ready to purchase? Thanks for all the great content, I’m about half way through all of the podcasts and have found them incredibly beneficial.

 

Question from Lisa

Hey Guys. First of all I would like to say how thankful I am for you taking the time to make the show and share your wealth of knowledge. A friend of mine had turned me onto your podcast and I can easily say without it I would have already made a horrible investment mistake!

I’m working my way through your episodes and am still quite far behind. My husband and I started saving a bit late in life but wound up with $50K in the savings. I am very conscious of preparing for our future now and want to use property investment as a means to do it. Not that long ago I listened to one of your episodes where you had mentioned getting started with $50K. Is that still possible now? I have a completely open mind to investing and there are areas where you can still get properties at lower prices that can provide some growth.

My question to you is: in this day and age now, can you only get started when you have over $100K for the deposit? Or is it still possible to start with around $50K?

 

P.S. Got more First Home Buyer Questions? Let us know here.

P.P.S. Got any other Questions for us? Let us know here.

 

 

 

 

RBA October 2019 – Third Time Lucky?

It’s the first Tuesday of the month folks which means the RBA Board has met and announced the official cash rate!

So… are the 75% of economists out there correct?? … has there been a THIRD CASH RATE DROP this year? Tune in to find out more.

And here’s what Ben will be unpacking in this month’s session:

  • What has influenced RBA’s Cash Rate decision?
  • Has the tax cut shown any impact in recent months’ data?
  • What’s holding the economy at the moment?
  • Will there be any Fiscal Policies from the Government to encourage spending?
  • How will the next Federal Budget look like?
  • Why we are NOT in a recession?
  • and of course.. what’s happening with the Global Economy?

 

 

 

DISCLAIMER: This podcast is general information only and is an opinion comment by Ben Kingsley. The information contained in this video is for Australian residents only. The information does not take into account the particular investment objectives or financial situation of any potential viewer. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.

The Property Couch, its employees or contractors do not represent or guarantee that the information is accurate or free from errors or omissions and therefore provide no warranties or guarantees. The Property Couch disclaims any and all duty of care in relation to the information and liability for any reliance on investment decisions, claiming the use or guidance of this publication or information contained within it.

For more information, please visit: http://thepropertycouch.com.au

RBA September 2019 – Is the Australian Economy REALLY that bad?

Businesses cut back as weak economy puts pressure on profits. Australia managed to survive the global recession – but all that good work has been wasted. The worst surplus ever: ‘Obsession’ rocking the Australian economy.

These are just some of the headlines when you search for “Australian Economy” on Google. Is it really that bad? Are we really going towards a rocky time? What does the fresh data telling us?

That’s what Ben will be explaining in today’s RBA commentary folks! Apart from that, he’ll also be covering a variety of topics such as:

  • What’s happening with the US-China Trade Deal and what’s President Trump is hoping for?
  • Are there anything else happening around the world that has a direct impact on Australia?
  • Is the Australian Economy as bad as the media is saying it is?
  • What’s the main focus for the RBA at the moment?
  • How’s business confidence now that more post-election data is available?
  • And more!

Now, let’s dive into RBA September 2019 Cash Rate Announcement!

 

DISCLAIMER: This podcast is general information only and is an opinion comment by Ben Kingsley. The information contained in this video is for Australian residents only. The information does not take into account the particular investment objectives or financial situation of any potential viewer. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. No investment decision or activity should be undertaken on the basis of this information without first seeking qualified and professional advice.

The Property Couch, its employees or contractors do not represent or guarantee that the information is accurate or free from errors or omissions and therefore provide no warranties or guarantees. The Property Couch disclaims any and all duty of care in relation to the information and liability for any reliance on investment decisions, claiming the use or guidance of this publication or information contained within it.

For more information, please visit: http://thepropertycouch.com.au

Report: Are You Saving For A Deposit?

Are you madly trying to save up a deposit, wondering how long it’s going to take for your savings to “magically” transfer into bricks and mortar? Maybe you’re a first home buyer and you’re desperate to haul yourself up onto the property ladder, but you’re not sure of the exact process involved in buying a home, or you wanna make sure your hard work and effort goes into a great asset or, hey, maybe you simply want your deposit to hurry up and be enough already?!

We talked about this in detail on Episode 246, Real Estate 101! But if you’re keen to get your hands on the transcripts, all the links mentioned in the episode AND additional resources that will help you escalate your journey, then this free report is for you!

 

Fill in the form below and we'll send it to your email straight away!

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What’s included in this Free Report: Are You Saving For A Deposit?

  • Full Transcript for this section on Episode 246, Real Estate 101
  • Free download of our best-seller book, Make Money Simple Again
  • Three additional videos that are related to this topic
  • Access to TPC MyWealth Portal to trap your surplus

 

 

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