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Episode 168 | Q & A on What % of your Income should you Spend, Borderless Investing and Smart Money Management Tips

It’s our favourite day of the month folks… Q & A Day!!!

And we’re covering quite a bit in a short & sweet amount of time today— including AN EXCLUSIVE ANNOUNCEMENT for our Couch listeners!!! (As it so happens, this was dropped with, “Yeah, go on, let’s tell ‘em” and a nod of the head… so an absolute scoop.)

Not only that, but also we answer 3 solid questions, thanks to the legends who leave us a SpeakPipe voicemail message (remember: we prioritise your Q if you do this too)!

But back to today’s episode — if you want to know what we think of investing in Hobart, and down in good ol’ Tassy in general (it’s been getting a bit of attention from a fair few property investors), OR you want to find out if now’s the time to invest in Perth … tune in.

But 100% TUNE IN if you’re keen to get on top of your Money SMARTS — we give you a rough rule of thumb for the amount of income you should allocate to your spending habits ie. How much you should spend on Bills, Living and Lifestyle and your Loan/s!!

 

The Q’s we’re answering are:

 

Question about investing in Perth vs Melbourne from David:

Good morning Ben, Bryce & The Stig,

I’m a keen Property Couch listener and thank you for your time generously sharing all your knowledge — it’s much appreciated. Just about myself, specifically: I’m a property investor with 3 properties — 2 in Perth, one in Brisbane. I’m a medical specialist with a good income and I’m looking to go again. I have a 900K pre-approval and looking at either Perth or Melbourne through a Buyers Agent. Clearly the Buyers Agent have biases… the Perth guy things Melbourne is a terrible place to Invest and the Melbourne guy thinks Perth is a terrible place to invest. If you had 900K, you wanted to go now and are a Buy and Hold investor that lines up with your ideas around a good quality growth asset, what would you do?
Thanks very much & come on the Dockers!

 

Question about Money Management Habits from Nerida:

What percentage of my income should be allocated to living and lifestyle account, primary account and payments account?

 

Question about investing in Tasmania from Stuart:

Hey guys, I just wanted to get your opinion on whether you’re focusing your attention on Tasmania? The reason for that question is I was just on a work trip to Tasmania last week, and there was a lot of commentary on the radio about shortage of supply in rental accommodation; even talk of people living in tents. I didn’t really get full across it … but something to do with legislation taking a long time to release land or planning approvals taking a long time, so bureaucracy essentially. I just wondered if any of this shortage of supply means your Buyers Agents were looking a little more closely at Tasmania, certainly on Hobart … I’m not sure whether somewhere like Launceston comes into that. But yeah, really interested in your take on what’s going on in Tasmania at the moment, especially people looking to make an investment entry sub- $500,000 as places like Melbourne and Syd make that harder to achieve. Interested on your opinion. Thanks very much!

 

P.S. The webinar we mention:

Webinar: Property Hotspots & How To Find Them: CLICK HERE to Watch

 

Episode 166 | How to Avoid the 7 Common and Costly Settlement Mistakes when Buying a Property – Chat with Nicole Faid

Back by popular demand! We heard from today’s guest back on Episode 107, and joining us again is none other than Nicole Faid, Principal and Founder of Accord Conveyancing, who has handed out accurate legal advice for over 25 years of industry experience! Just a heads up — we covered her awesome back story in that episode, so if you want to hear it (and it’s well worth the listen), go back and check it out!

So — Conveyancing — let’s take the mystery out of it, folks! Because a lot of people out there don’t know what happens once the documents have been handed over to a Conveyancer, especially one like Nicole!

And we jump straight into it, folks! So get pumped for the 7 common & COSTLY mistakes you really DON’T want to make…

(If this episode doesn’t cement the fact that it’s crucial to get a contract review BEFORE you sign, very little will!)

 

So, let’s hear it. What exactly are you in for?

  • In a nutshell, what does a conveyancer do?
  • What is the most important document that underpins a contract?
  • How many people don’t get the amount of land they thought they would when purchasing a property?
  • What happens if the discrepancy of this land is less than 5%?
  • What REAL LIFE EXAMPLE happened in Brunswick? (And how much did this mistake cost the buyer?!)
  • Why shouldn’t you rely on your own interpretation of “wear and tear”?
  • Are “back to back settlements” a bad idea?
  • What happens with the conveyancing rules if you’re a borderless investor?
  • What is a “caveat”?
  • If you’re purchasing through a SMSF, what title requirements do you need to be aware of?
  • What can happen in the settlement period that will seriously shock you?
  • Why is it important to distinguish between major and minor issues with the settlement process?
  • When should you conduct a Building and Pest Inspection?
  • How does the art of negotiation fit into all this?
  • What is the best risk management?
  • What do you need to keep in mind with the final inspection?
  • What is the legal requirement about having a granny flat?!

… Yep, it’s a hairy and very serious episode folks, because the mistakes we talk about in this episode can be VERY EXPENSIVE!!

 

TODAY’S TEASER:

P.S Missed yesterday’s Facebook Live?

We answered a couple of questions on your lunchbreak (in 15 minutes)!

WATCH it here.

 

Episode 161 | How to Buy Property Like a Pro – Chat with Veronica Morgan

Want to know how to bag an A grade asset? How about scoring the inside tips Buyers Agents use? If you’re keen to buy property like a pro, today is the show for you!

That’s right, folks! We’re getting down to the nitty gritties of buying… how to nail an auction sale, how not to overspend (very important) and how to think like you’ve been in the game for decades.

Plus, we’re diving into the Sydney property market, picking up some sunken treasures so you can discover the latest, the greatest and the mistakes to avoid!

Joining us is Veronica Morgan — you might recognise her from Foxtel’s Lifestyle Channel, Location Location Location Australia in the days of co-hosting with Bryce — who is the Founder and Principal of Good Deeds Property Buyers, a property buying services specialising the Sydney market. To boot, Veronica is also a QPIA, a clever property investor and key note speaker, industry writer and a repeat guest on the Couch!

 

So, let’s get take a microscopic view of what a reputed Buyers Agent sees (and does) every single day:

 

Want to hear more from Veronica? Check out Episode 76 | Building a property portfolio after the boom!

Also, make sure you check out our Facebook Live sessions! They’re Q&A Style & only 15 minutes Folks!!

 

 

Episode 160 | The Power of Vulnerability when Looking for Advice – Chat with Karla

We’re getting real on the Couch today, folks. So if you’re in the mood for some solid learning, serious authenticity and a powerful view into what it’s like to be on the chair opposite us (or any other professional advisor), today is YOUR Day!

Because in this episode we are introducing a very, very special guest (in more ways than one)…. someone who has personally reached out, sat down and met with one of our advisors…. Karla C.

Except Karla…. she didn’t like what we had to say!

Why?

Well, this is where the power of vulnerability comes in………

 

[Two words that come to mind: “Profound change.”]

Full disclosure: We normally avoid mentioning our company, folks….. but we’re huge believers in Karla’s story and its benefit to you is too great for us to hold back! Plus, Karla’s “tell all” is a gift needed for life, not just property investment.

 

Before we unfold the layers of vulnerability though, just a little shout out to those of you WHO LIVE IN SYDNEY & WANT TO WORK WITH US! We’re after experienced Property Investment Advisors, Mortgage Brokers, Financial Planners and, just maybe, Accountants! So if you’re all about helping others, influencing positive and profound change to people’s lives, and the idea of a challenging and rewarding role makes you ticklish with excitement ….. wow us with your resume & cover letter here!

 

You’re going to hear:

 

p.s. Really want to learn more about the service that the guys were chatting about? Click here to learn more about Empower Wealth’s Property Investment Advice services.

 

 

 

Facebook Live Bonus Episode – Q&A on Property Hotspots Webinar

It’s here folks! Sorry it took some time. We thought we’ll organise it a little bit before broadcasting it to the rest of our fellow couchers.

So here’s the recording of the Facebook Live last week! This session is mainly based on the Questions we’ve received from our webinar, Property Hotspots and How To Find Them. Enjoy!

 

 

And here’s the list of questions that we’ve answered on the night along with the time stamps (in minutes). Hope it helps!

 

04:17
From Louise
Hey guys, LOVE your work! I’m curious why you look for very low stock on market rather than high stock on market.

If you were to go with buying when others a fearful and selling when others are greedy (Buffet strategy), then wouldn’t you try to purchase in a buyers market where stock on market is higher? Or am I interpreting the data wrong?

07:42
From Paul
When listening to all the experts they talk about buying properties under the median price.

From memory LS talk about Market Price?

10:06
From Jenny
Does the history on location score for the various measures only go back to 2016 Jan?
10:44
From Steve
Hey guys, having a sneaky watch during work…shhhhh. Can you please advise what the \”Statistical Reliability\” index is tracking and how this is determined? Thanks
12:42
From Ben
Some commentators mention a term called Established Capital Benchmark as an indicator of value of a property vs others in a certain area. Whilst this does not appear to be related to supply & demand, it may be of value to investors looking at a specific property in a suburb. Is ECB a legitimate indicator when looking at a particular suburb, and is there a place for it as a metric for investors?
16:39
From Ben
Is there a way to track the Location Score for a suburb over time? So a report based on date range showing variation in LS over time?
18:54
From Mandie
I’m keen to buy but not sure which is the best State to invest using my SMSF.
20:26
From Jaccob
What websites am I best to monitor to find major infrastructure projects, in construction or proposed? Cheers
20:40
From Todd
Do the high location scores (>80) match your professional opinions on where you would recommend to buy? For example, Risdon Vale looks to be a fringe suburb of Hobart?
26:2
From Nathaniel
Firstly many thanks for the data and overview and also the pod cast and book I have consumed all material you guys have produced. I guess the difficult part for me personally is finding a place to start when your looking at so many suburbs! I started my research by listing all suburbs within a 25km radius of the city I was interested in. Then included if the suburb had a train line from there I listed the location score of each suburb and the median price of properties, to try to narrow my searches to a handful of suburbs. I maybe suffering from analysis, paralysis, as I\’m still to close out a purchase. Some feedback on location score I\’d love to be able to filter on some of the metrics ie if I want to know what suburbs in Brisbane have the best rental returns only, or best supply ratio etc. I think it will help with filtering or pinpointing suburbs a lot better. P.s not a question just feedback, keep up the great work.
27:55
From Adam
On vacancy rates, rapid increases in vacancy (particularly units) makes sense from a supply perspective (new developments). What’s the driver for rapid decreases in vacancy rates (as per the Southbank example)?
30:18
From Aaron
Is it possible that the creation of this big data analysis system could artificially change the market? As investors shift towards buying or not buying in a certain location based on this information – does that artificially change the locations supply and demand?
33:56
From Yuna
If I am trying to get in the market for buy and sell strategy then do I still need to look at all of those indicators we have looked? Thank you so much. Love your podcast Ben and Bryce 🙂
35:37
From Anne
I’ve been using LS since your launch & I think it\’s fantastic. I was wondering if the you plan to further define the criteria in future, such as the ability to report a location score to include the number of bedrooms, bathrooms etc.
38:01
From Felix
If you pick a location with high location score – does that mean that the market is hot and you are potentially paying more as more buyers are interested in that market?

Once a property has been in a hot spot how does that effect the future growth. is the hot spot a temporary boost in appeal?

40:51
From Christopher
I am a little confused, I subscribed to LocationScore after listening to all of the property couch podcasts and reading the Book. However, I am confused. All I have heard via The Property Couch is about more blue chip properties. Yet on location score so many of the Top 250 suburbs are far from being blue chip suburbs. Can you please why there is such a difference?
44:25
From Gayan
Excellent webinar team. Just wondering if I should stop using the investment property magazine stats – or is this reliable data with maybe a few gaps if you are time poor and can\’t review each stat on interested suburbs? Keep up the great work.
46:12
From Karla
Thank you so much for this webinar, it was a great learning tool! You touched on the fact that there are some differing stats on opposing websites, and I have found this to be true in my research too. Personally, do you take an average of those numbers, or are there certain sites you trust more for this information?
47:01
From Karla
When you research a suburb that has some of these indicators missing (No results for vacancy rates etc) in their profiles, do you discount this suburbs? or how do you include them into your research?
47:56
From Karla
Does LocationScore take into account, future town planning/development, and other lifestyle factors in the suburbs to give its suitability score?
48:16
From Neisha
If a lot of these indicators are good by your estimates, doesn’t it mean that it is not necessarily a good time to buy into that market ie if stock on market is low, vendor discounting is low, OSI is high doesn’t it mean the market is quite hot and it may be prudent to wait?
48:47
From Chris
Could a downward trending Vendor Discount metric mean that a selling agent is adjusting the asking price lower over time to reflect a downtrend in recent sale prices?
49:15
From Nicole
Based on your examples, does location score include all States and Territories, as you only showed the East coast or areas down South and South WA
49:38
From Ashish
Is the research similar to other prediction reports ?
50:41
From Fred
Is there a real difference between fair market price and fair market value?
51:49
From Peter
Can you see what the weekly sales rate of non auction property

 

52:50
From Kosta
Crosssing Investment Loans is generally a no-no, would you consider it for cash-flow properties in order to save on LMI (particularly when capital growth is not on the cards)?

 

53:16
From Tom
You have negative gearing, and foreign investment trying to off shore their monies against potential political change. The 101 fundamentals of economics and markets, say equity markets doesn’t apply to property in most cases. People generally feel safer with tangible assets.
53:44
From Aaron
Hey guys, love the show. Would love to know your thoughts on investing in north west Melbourne at the moment (Sunbury, Diggers Rest, Gisborne area).

Prices appear to be growing quite fast and there is lots of new infrastructure however, there are a lot of brand new estates.

54:46
From Matt
Hi guys, if you had the option of buying a small one bedroom unit in an area close to city, (Randwick) or a 3 bedroom home further away (Gosford) what would you pick for a first home buyer ?
55:28
From Cameron
As technology increases and people have the opportunity to work from home. (I am a property valuer employed by an office in Brisbane though I work from home on the Sunny Coast), do you think there will be a shift to lifestyle locations and therefore values will take over the cities. eg the coastal areas within 2-3 hours of a city.
57:20
From Sean
As Buyers Agents, for a relatively conservative investor (plus young) is their a rule of thumb where you would say ok LVR is now ..% and we are happy for them to go and buy the next one.

Keen on capital growth plays at this stage, rather than yield.

58:20
From Jassi
Opinions of buying an IP and building a granny flat in the back to increase cash flow?
(getting rent from the home and granny flat)
58:51
From Martin
Hi guys! you are awesome, thanks for your insights.

When targeting auctions, how do you ensure that the value the bank will give to the house is close to the price you could pay for it?

59:38
From  Kimberly
Hi Guys! Thanks so much for all your great work. I look forward to your podcast every week! I purchased my first investment property 18 months ago and have had a really bad experience with my tenant.

What are your tips for getting past the bad mindset this can cause?

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