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Episode 388 | Why do people sell off-market properties?! – Q&A

Folks we have received one of the greatest compliments bestowed upon us in this episode… 

We have been called… 

THE NETFLIX FOR PROPERTY INVESTORS! 

And folks that has absolutely made our day! Thank you, Andrew!!  

But we’re guessing if you’re here, you haven’t just come to hear us celebrate our new title. 😉 

You’ve probably been like us and Jordy – who asked the question – and wondered “Why do people sell off-market properties??” 

And we’re so excited to dive into this because honestly, we think the answer is going to surprise you!  

We’ve also got a fantastic line-up of questions for this week’s Q&A episode, like… 

  • How do you actually put the big rocks in the jar first?! In this case, our question-asker Clancy is having to choose between buying an investment property or home first… 
  • Is it possible to have a multi-purpose investment that actually works??
  • How can question-asker Demi allay her family’s concerns over her investing in her third property within a year?

Listen in now folks, we’re streaming tons of audio gold (Since – you know – we’re the Netflix of property investors 😉)  

 

Free Stuff Mentioned… 

 

Questions We Answer…

Jordy on Why People Sell Off Market Properties  

“Hey Bryce and Ben, 

How you guys going? 

Just had a question around off market opportunities. You hear that there are so many off market opportunities out there that they actually make up nearly more than listed properties. 

I’m just wondering why there would be so many real estate agents who are working on the seller’s behalf wouldn’t want to take it to market to get as much competition and try and get the best price.  

Obviously, there’s times when someone might want a quick sale, but outside of that it just seems kind of just goes against logic, so if you guys could have a discussion about that. Thank you.”  

 

Clancy on Putting the Big Rocks in the Jar  

“Hey property couch guys, 

Long-time listener here. I’ve got a question for you around putting the big rocks in the jar and just having a better understanding of what that means. 

Our current position is me and my partner own a unit on the Northern beaches in Sydney approximately worth 1.4 something, with around 400 and something in equity in that property. 

Over the next sort of five years, we want to move into a house. It’s also in the northern beaches and we also want to start our investment journey in terms of buying investment property. Question is what should we do first? 

Should we have our next goal be behind the house or the next goal be behind the investment property? Everyone in the family says we’d be crazy to buy an investment property first. 

It kind of makes sense to me that that would be the next option. I’d really appreciate your guy’s insight and maybe help me understand what putting the big rocks in the jar means I know that’s an important concept, but I’m just not quite there conceptually, thanks.” 

 

Andrew Kringas on Lifestyle Property purchases 

G’day Ben and Bryce.  

Big shout out to you guys and the podcast. I kind of refer to this as the Netflix for property investors. 

Like a lot of your listeners, I got into you a couple of months ago and have not been able to stop going through all the episodes. Obviously starting up from the beginning and then ended up coming to some of your newer ones.  

My question is really in relation to lifestyle property that you referred to and there has been obviously a really big surge in the past two years of people buying properties in regional, Victorian coastal areas, and looking at using it as a holiday destination for themselves, but also seeing how they can make some substantial rents during peak holiday periods and also use the opportunity to let family use it. 

 Just wondering what your take is on this and with the pending interest rate rises, is it something that you guys look at or do you steer away from it? Similar to high rise apartments. Would be really happy to hear your thoughts, thanks. 

 

Demi on Advice to family after 4 properties 

“Hey Bryce and Benji.  

My question is around family, so my family been watching me. We’re about to purchase our third property in a year, so we have 4 all up. I’m only 25 and my family will get very nervous about it. I have buffers. I have everything. What would you say to them to make them not stress out? 

Thank you.”  

  

Here’s some of the gold we cover… 

  • 2:05 – Focus more on the H___ than the G___! Let us know what yours are… 
  • 4:34 – Question 1: Why People Sell Off Market Properties  
  • 9:00 – Remember folks, just because it’s off-market doesn’t mean… 
  • 11:05 – Real Estate Agents are influenced by E____ too! 
  • 12:24 – Don’t fall for the THIS myth 
  • 16:12 – Question 2: How to put the big rocks in the jar first 
  • 17:48 – It’s a relatively easy decision if you take out… 
  • 19:35 – What we would recommend! 
  • 23:52 – Question 3: Lifestyle Property purchases (Netflix for property investors?! We are HONOURED mate!)  
  • 25:20 – Can you have a multi-purpose investment? (and Ben’s predictions for the regional exodus trend!)  
  • 28:23 – Will the Lifestyle Property Purchase trend continue? 
  • 33:36 – Question 4: Allaying family concerns over investing 
  • 35:24 – Why you should test your buffers…  
  • 38:18 – “Be a student of history!”  
  • 42:10 – Folks, remember there is no “right” way to invest… 

And… 

 

Episode 383 | How to create the optimal mindset for investing – Q&A

Let’s face it…  

Money is an emotional asset folks. Especially when you realise, you’ll never have “perfect” knowledge before investing… 

But we think that shouldn’t stop people from investing!  

In fact, we think it’s something that everyone should be okay with, especially if you’ve covered your bases! That’s why in today’s episode we’re uncovering:  

  • What these bases are… 
  • How to control your emotions around money… 
  • Why people fall into an analysis paralysis… 
  • And ultimately how you can create the optimal mindset for investing!  

But that’s not all – of course – it’s Q&A DAY!! (Woohooo!)   

We’re talking all things Buyers Agents: When and why you should stick with your current agent, the difference between specialist and regular Buyers Agents… 

PLUS, we’re unpacking the upcoming generational wealth transfer that will flow from Baby Boomers… 

And explaining key factors you should understand, or have in place, BEFORE deciding to upgrade houses.     

These questions provide some great case studies, with one proving why buying properties from other family members may not actually be the best solution for everyone!   

Questions are listed further below 👇. Enjoy!  

 

Free Stuff Mentioned 

 

Here’s the questions we answer… 

Jay Sanderson on Low Stock for Properties 

“I have only just started my investment property journey and have acquired one passively geared property which I’m about to develop further. 

My current buyers advocate is trying to find additional properties for me to purchase and I have the funds approved but he is telling me that inventory is short at present. 

What would be your advice here, look for properties myself or speak to additional buyers advocates?”  

 

Leino on Buying Off-Market From Mum  

 “Hey guys, I just started listening to your podcast and have listened to the first 70 episodes in just over two weeks. I have also listened to a few of the latest ones and now have the ‘property bug’. 

Our situation – currently we have a PPR in Townsville in a nice area, which has seen some growth and we have a good amount of equity at the time of writing this. 

My wife and I have a good, combined income and a very good yearly surplus from which I want to start purchasing a few other properties. 

I recently spoke to my mother who owns two properties out right in the sunshine coast (specifically Mooloolah Valley) where the median house prices have skyrocketed. Both houses are on very large blocks (one is a hectare the other is 1 1/2 acres). 

My brother is currently renting one of them for fairly cheap and may stay for a few more years. Due to my mum’s financial circumstances, they did mention maybe selling the larger block as their super is dwindling away and they are just over the cap for a pension. 

 My question is: Would it be worth buying the property from them at possibly 200-300k under median value, with an interest only loan and servicing the debt until my brother moves out at which time, we could increase the rent to a larger amount and move towards positive gearing? 

If we buy privately off them well below median, we will start off with a massive amount of equity, and though it does have great owner occupier appeal, it probably doesn’t tick off every investment property feature that everyone talks about. 

I’m currently 40 years old and wish to retire around 60. Ideally, we would like to knock down the house and rebuild our forever home (on the block) down the track if we were to buy it. 

I acknowledge you don’t have all the info required, but if you could provide some tips or things to consider, that would be greatly appreciated. 

Sorry if something similar has been answered before. 

[PS I have booked in to speak with your team, but it isn’t for a little while due to availability]. 

Kind regards, 

Leino”  

 

Andrew on Upgrading or Buying Another House 

“Hi, we are a small family with 2 kids, and we own one property which has paid off all mortgage. 

We just wonder should we sell this property to upgrade to premium house or keep the house and buy another house to live. 

We make 130k after tax, so not sure we should focus on cash flow or captain gain property.” 

 

Winslow Tam on Optimal Mindset  

“Hi Ben, 

Hope you had a great weekend. 

Here is my question… 

Considering that investing can [be] taken quite seriously by some people, what is the optimum state of mind that individuals need to have when performing their best as an investor? 

I’m referring to things such as motivation, mindset, emotional, etc. 

I understand that investing is for the long term – somewhat like a marathon instead of a 100m sprint.  

What are some of the things that investors should do to get their state of mind prepared for investing? 

It would be great to hear your thoughts. Look forward to hearing from you. 

Regards, 

Win.” 

 

Here’s some of the gold we cover… 

  • 2:16 – Make sure you sign up for Ben and (previous podcast guest) Antonia Mercorella’s PICA Webinar on Queensland’s housing market!  
  • 4:25 – Folks, do THIS to have a great relationship  
  • 7:52 – Leave us a question here! (Did we mention you could win a FREE Start & Build course?!) 
  • 9:00 – Question 1: Low Stock for Properties 
  • 9:55 – When and why you should back your Buyers Agents  
  • 11:06 – Where should you buy when there is low property stock? 
  • 13:28 – You CAN ask your Buyers Agent these things… 
  • 18:23 – The difference between regular Buyers Agents and specialist Buyers Agents 
  • 21:33 – Question 2: Buying Off-Market From Mum 
  • 23:42 – Why we think there’s more opportunity for your mum…. 
  • 27:26 – What’s best for Leino and his brother?  
  • 30:33 – Dealing with the generational wealth transfer  
  • 37:26 – Question 3: Upgrading or Buying Another House 
  • 37:53 – The reason you should know your priorities  
  • 40:07 – How to make the invisible visible  
  • 41:45 – Folks, it comes down to ____ cost or _____ cost  
  • 44:35 – We’ve found most people choose… 
  • 47:36 – Why having a finance strategy is important BEFORE you decide!  
  • 49:08 – Question 4: Optimal Mindset 
  • 49:52 – Please accept this fact folks… 
  • 50:55 – How to create the optimal investor mindset  
  • 52:42 – Why people fall into analysis paralysis…  
  • 56:12 – Be a farmer, not a hunter!!  
  • 57:47 – Practices to control your emotions around investing!  

And… 

 

Episode 376 | It’s never too late to start: How he’s on track for a $2k/week passive income! – Chat with Steve

It’s the final episode of our Summer Series 2021/22!! And folks, we are finishing with a bang!

Steve, our special guest only started listening to us back in January last year.

But… within a short span of 8 months (all during COVID as well), they…

  1. Paid off their bad debt,
  2. Implemented Money SMARTS,
  3. Got a property portfolio plan done
  4. And even bought an investment property

All without penalising themselves!!

They’re still doing all the fun things, still going away on weekend and having that lifestyle that they wanted but yet, things are looking a whole lot better now.

So… what are they doing differently?

Tune in now to find out why it’s never too late to start AND how you can also buy an investment property without impacting the family budget 😉

p.s. Make sure to tune in to 34:45 minute where he talks about how the podcast has given him the confidence to demand something from a certain someone.

 

Free Stuff Mentioned

  • FREE eBookMake Money Simple Again
  • FREE MyWealth Portal & Start Your Financial Transformation Today! (includes Money SMARTS, Money FIT + Money STRETCH) – Fill in the form at the bottom of this page or Free Sign Up Here
  • BingeGuide to Property, Finance & Money Management Download here
  • Free Report: How to Buy an Investment Property without Impacting the Family Budget? – Download here
  • (LIVE Video) How to find Hidden Money in your Family Budget? Watch here

 

Here’s what we cover…

  • 2:00 – Meet Steve.
  • 2:45 – “Financial situation of the parents was their business…”
  • 4:47 – What are his saving habits since he was young?
  • 6:00 – What are some of the money messages that he noticed growing up?
  • 7:13 – Steve’s saving habits in his early years…
  • 7:50 – The difference between a good teacher and a GREAT teacher!
  • 10:20 – $60,000 for a property… And it’s not cheap?!
  • 11:06 – Living through the Recession times and how that affected his job decision
  • 13:17 – How long did the renovation go for?
  • 16:22 – The lifestyle choices and struggles most parents face
  • 18:28 – When your kids don’t share the same passion as you…
  • 20:28 – How did they manage to fund the 3rd principal place of residence?
  • 22:30 – Who gave him the advice to deal with his properties THAT way? 😨
  • 23:00 – Building their dream home HIMSELF in 12 months!
  • 24:00 – What was his research outcome to build wealth? #WhyProperty
  • 26:23 – “Maybe it’s time to clean all these up…”
  • 27:58 – The unexpectedly easy transition to Money SMARTS
  • 30:45 – What was their #1 priority in the first couple of months of Money SMARTS?
  • 31:55 – His lifehack to catch up to our 300+ episodes!
  • 34:45 – The podcast gave him the confidence to demand what he wanted from the _________ ?
  • 38:29 – What was the satisfying change that really mattered to him and his family…
  • 41:05 – Do you notice these signs… ?
  • 46:11 – Full steam ahead towards their end game!!
  • 48:48 – Steve’s advice for YOU!

 

 

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

Keen to Get Started with Money SMARTS?

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

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Episode 375 | “The Phone Wouldn’t Stop Ringing”… How she stopped the wolves at the door! – Chat with Bianca

“If you don’t know where you are, you don’t know where you could possibly go.”

That’s just one of many amazing quotes in today’s episode.

 

Folks, some stories need to be told. And today’s guest owns one of those stories.

You can kind of guess it from the title but here’s what happened…

Our special guest today, Bianca was an athlete. She was a great basketballer in her younger years and was travelling interstate and internationally for competition and she was doing great.

But… life is like a rollercoaster – there are ups and downs.

And she had two down times…

One of them involved a huge credit card debt.

So… what happened? How did she climb back up? Did she run away and hide?

 

Well… Bianca showed us what we can achieve by taking a step forward and be honest to ourselves and everyone around us.

She also showed us her tenacity to do better and an unyielding ability to swim upstream.

And most importantly, she showed that life is all about the choices you make.

 

Like we said, some stories just need to be told and heard…

Tune in today folks. You won’t regret it.

 

Free Stuff Mentioned

 

Additional notes:

If you’re finding yourself in a tight spot then please do not hesitate to reach out for help. That’s the first step to recovery. Here are some useful links that might help you take that step:

 

Here’s what we cover…

  • 1:28 – Meet Bianca.
  • 1:56  – What was money like when growing up?
  • 3:14 – What were the observations that she learned from her mom?
  • 6:46 – The “GREAT” transition to young adulthood!!  
  • 8:30 – “Hmm… Something doesn’t really add up…?”
  • 9:11 – What was her motivation to get a second job?
  • 9:55 – What is this…. a credit card?! (Uh oh…)
  • 11:30 – The denial phase that felt like an insurmountable challenge
  • 12:20 – What was the one thing Bianca thinks she has lost?
  • 13:32 – THIS is the best thing you would do…
  • 14:25 – Internal dialogues that were playing in her head
  • 17:50 – What’s the best way to rip the band-aid off?
  • 21:31 – The danger of looking for help online!
  • 22:30 – Financial Peace: How does she plan to achieve this? 
  • 24:32 – Did you know this about Auckland, New Zealand?
  • 27:18 – What can you learn by just observing your local community?
  • 29:50 – Moving across the ditch!
  • 30:45 – The 1st Property!! Saved a Deposit, Found the Property, Offer got accepted but…. LMI said no. (Huh?! But why?)
  • 32:04 – So… What did they spend the deposit on instead?
  • 32:50 – The defining moment in their journey
  • 36:16 – Yes, it’s a money spreadsheet again
  • 38:43 – When did they finally manage to buy their first home?
  • 40:42 – Multitasking 101: Best Way to Learn!
  • 44:34 – What is their next course of action towards Financial Peace?
  • 46:13 – Her heartfelt message to her younger self and others
  • 50:44 – How are things different now?
  • 54:31 – What made her come on our Summer Series?

 

 

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

Keen to Get Started with Money SMARTS?

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

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Episode 374 | How to Win Robert Kiyosakis’ Cashflow Game in Real Life!! – Chat with Marina

“You wanna be the janitor”

This is probably the first time we’ve ever had a guest over where money conversations were not only discussed at the dinner table but… it was a hot topic anytime of the day!

For very good reason too!

Marina, our special guest today had an awareness towards money and investment at a very early age.

In fact, when others were playing Monopoly, Marina was playing Robert Kiyosaki’s cashflow game (Quick tip: It seems… being a janitor in the cashflow game has the highest chance of winning it 😉)

She had a full grasp on the concept of debt – tolerable, horrible and productive – a long time before she discovered The Property Couch and she also started investing in property at the tender age of 19.

So…

  • Where did that drive come from?
  • How did she develop a can-do attitude?
  • What are some life lessons she learned along the way?
  • And which of our fundamentals gave her a boost?

Folks… We seriously can’t describe how uplifting her story is and there is much to learn from this episode so let’s jump into it now!

 

Free Stuff Mentioned

 

Here’s what we cover…

  • 1:24 – Meet Marina.
  • 2:03 – Money was a hot topic?!!
  • 3:11 – Unconventional Wisdom from negotiating for a Furby
  • 5:05 – Where did the money awareness come from?
  • 9:01 – How is it like when your mum is a superhero? 🦸‍♀️
  • 10:45 – Having a transparent and honest money conversation within the household goes a long way folks! Here’s the proof of that…
  • 12:45 – Introduction to Robert Kiyosaki’s Cashflow Game
  • 13:22 – The embarrassing job interview 😱
  • 14:05 – Why did she drop out of uni?
  • 16:10 – Property research skills that have been passed down from her parents…
  • 17:32 – THIS is how you win the Cashflow Game!
  • 19:25 – When spreadsheet budgeting becomes _____________?
  • 22:11 – The “Aha!” moment!
  • 25:36 – A 250% increase in their surplus?!!
  • 26:54 – What are all the changes that they’ve made for that to happen?
  • 30:21 – Saving thousands of dollars by just signing a few papers?!
  • 31:25 – What happened that she had to return HALF of the First Home Owner Grant?
  • 34:01 – Why you shouldn’t bring your dad to an auction…. #ToughLove
  • 37:35 – Buying the Family Home
  • 39:55 – What are their next steps for here?
  • 42:55 – Why it’s important to merge their money mindset
  • 46:06 – The bombshell moment…
  • 49:27 – The importance of facing your demons and taking action
  • 52:45 – What does she want to impart to our community?

 

 

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

Keen to Get Started with Money SMARTS?

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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