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222 | Q&A – The Biggest Challenges You Face in a Market Downturn

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“What’s your BIGGEST Challenge when it comes to building a portfolio in the Current Market?”

… Folks, this is the question we threw out on Facebook and to our tribe of listeners who receive our emails… and we received a FLOOD of answers back!

So it seems a few of you are facing a pickle or two as we speak (Or were simply keen to grab a copy of our book for free — that’s what we promised if we would read your challenge out, right?)  Well, to help you out, today we’re going to unpack quite a few of these and, with a bit of luck, dish out the gold into how to SOLVE some of these problems…. because pickles are meant for the pickle jar 😉 #dadjoke

No surprises on the stand outs — GETTING FINANCE APPROVED and FEAR are the main culprits here folks! So we’re going to tackle these, but, of course, we’ve also done what we do best & thrown a few hairballs in the mix for good measure.

Before we pick the lock on the ol’ treasure chest, just a wee bit of gold for you right away…

 

We’ve got an exclusive LIVE Masterclass coming your way THIS Wednesday!

Details: How to Build a Property Portfolio in a Market Downturn and Retire on $2K Per Week without having to renovate, re-develop or sacrifice your weekends!

CLICK HERE to Register Now

Just a heads up… this exclusive training will definitely help the folks who are facing challenges right now, or are simply keen to succeed in property investing no matter what the market’s doing. Unfortunately, we WON’T be making this available on our website (the content’s too “hot”), so register to get further details.

 

Quick, did you know… Bryce is… 1. On Escape From The City tonight (ABC TV @ 8PM and ABC iview) and, huge news, 2. Escape From The City is UP FOR A LOGIE AWARD!!! Vote for the show here on the Most Popular Lifestyle Program (voting ends Sunday 31st of March).

 

TODAY’S RESOURCES MENTIONED…

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And THE CHALLENGES…

 

 

[Free Report] How to Get A Loan after the Bank Rejects You?

By in Free Resources

As promised on Episode 222, The Biggest Challenges You Face in a Market Downturn, here’s the Article we wrote on YIP Magazine, How to Get A Loan after the Bank Rejects You?!
Just fill in the form below and we’ll send it to your email right away!

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WHAT TO EXPECT?

  • The 5C’s of how the Banks assess you
  • Three BIG Reasons why banks say no
  • What you can do when your loan is rejected
  • Money TIPS for Accumulating your Income and Sorting your Expenses

198 | Nine Ways to Navigate the Credit Crunch

By in Podcast

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Folks, if you’re playing the long-term game in property investing, you’ve got to know how to navigate the credit crunch!

And what do we mean by this??

… You MUST build financial muscle in order to succeed at the game of lending! Because folks you can NOT save your way to a passive income. You just can’t.

What you need is access to credit and an ability to optimise this credit so that it works in your absolute best interest.

But of course, there’s an elephant in the room here, isn’t there??

The lending landscape has changed, folks! This can be seen from APRA’s lending restrictions all the way to the banks feeling the pressure following the Royal Commission — both of which are just the tip of the iceberg property investors are now facing when it comes to accessing finance.

So. Here we are at the messy middle…… how can YOU cut through these challenges and still get the lending results you need??

Well, we’ve got 9 Tips up our sleeve to help you do just this folks!!!

 

Before we kick off the key learnings, here’s a couple of reminders from today’s episode…

1. Have you got a copy of Make Money Simple Again yet?

Grab a copy with 20% Discount here! Just use this coupon code: TPC20

Not ready to buy the book yet? No worries! Just download the Free Chapter here and check it out. 😉

 

2. Looking for the Facebook Group? Click here to join!

 

 

 

190 | Q & A – Addressing Media Alarmists, Investing in Your 50s and The Truth About Lenders Mortgage Insurance…

By in Podcast, Q&A

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If you’ve heard the latest media reports, folks, you might have reason to believe the property market is all bricks and slaughter… but is that really the case?

Today on the Couch, we’re addressing media alarmists — the recent noise shouting out alarm that they’ll be a total housing crash in Australia! So… is there any truth to the gloom and doom?

PLUS, we’re deep-diving into investing later in life and what this really looks like for people in their fifties, including the ramifications of investing in property can have on pension allowances.

And, of course, Lenders Mortgage Insurance… let’s run the basics, and work out when too much is WAY too much!

Before we kick off the Qs… guess what??

 

If you want the 30% discount on our new book Make Money Simple Again you need to join our waitlist BEFORE 11:59PM TOMORROW  (Friday 21st September 2018)

Yes, this is a limited-time only discount, folks!

>> CLICK HERE to Get 30% Discount of our New Book

 

And before we jump into the questions, here are some recommendations from Stiggy to help you go through this episode:

  • Do you want the recording from on the VIC Residential Tenancies Act Amendments? PICA will be sending out the slides AND the replay to their members next week. Not a member yet? Click here to join.
  • (Spoiler Alert) And finally… Here’s the link to the Granny Flat that we’ve chat about on today’s show. Make sure you consult a qualified and experienced Financial Planner before making any investment decisions folks! 🙂

 

Alrightey, let’s get to today’s questions!

Question about Investing in Your 50s from Darren

Me and my wife made a mistake late in life. We bought a house and sold it back in 2000, so we’re not first home buyers. We’re 50, looking forward to getting on the property train and have a good income of about $180K per year. We have about 4.5K in disposable income that we can put into property. Given everything I’ve heard from you guys, how could a couple, now 50, with that available cash, make their way through to give themselves a passive income by mid-60s, earning $80 – $100K per year in passive income. We were thinking of buying a house for around $450K, perhaps on the north side of Brisbane, around Petrie and Kallangura area, and we could smash out as much as we could in a year and a half, build up some equity and buy then move onto the 2nd house with a maybe a bit of renovation between. So my question is: how do people of our age group get onto the property ladder and make this happen for ourselves?

 

Question from Steph the “Serial Coucher”

We’re looking at purchase a home from my father in law over a period of time. Essentially, he is an asset rich, cash poor retiree who is living fortnight-to-fortnight on the pension. Yes, it’s certainly an emotional driver, but the asset does stack up. So my question is: how does something like this work? Can you acquire traditional financing, or is it a specialty class of financing? And what specialist should we look to engage? I want to get as much info as possible before even bringing up the subject with him. Thanks guys!

 

Question about Lenders Mortgage Insurance from Alasdair

I’m looking to increase my portfolio from 2 Investment Properties (IP) to 3IPs, and possibly a 4th. I’m sitting at around about 90% when I get my loans. I read somewhere that around the $1million mark it gets difficult. And I’ve heard that the global portfolio is impossible to get it over $2.5 mil. Can you speak to that idea?

 

 

189 | Q & A – Vic Residential Tenancy Changes and “Legoland” in a Good Location

By in Podcast, Q&A

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Folks, today we’re tackling your questions around some tough topics!

Because chances are, you’ve heard about the amendments that’ve recently been passed on Victoria’s Residential Tenancies Act — laws that allow tenants to keep pets and make ‘minor’ modifications to the property, regardless of the landlord’s wishes.

So we’re going to give our take on this, as well as take a deep dive on “Legoland” and whether or not these properties are worth considering if they’re sitting in a good location. Plus a certain Donald Trump gets a mention, as does the interest rate rise we’ve seen from the big banks right here on our home turf!

And why the tough topics now?

Well folks, it’s pretty simple… we’ve sweated out our brand new book, Make Money Simple Again (Get 30% off here), and now that it’s off to the printers… we’re ready to take on some of your other challenges!

 

Before we kick it off, just a shout out that PICA’S holding a limited-seating event on Tuesday 18th September at 6pm — to discuss on the amendments to the Victorian Residential Tenancy Act…

This is an exclusive event (only 60 seats available) with Yvonne Martin and will take place at Madgwicks Lawyers, Level 6, 140 William Street, Melbourne.

Register Here: PICA – Changes to the Residential Tenancies Act

 

And yes,

WE FINALLY FINISHED OUR BOOK, Make Money Simple Again!!!

Get 30% OFF IF YOU JOIN THE WAITLIST
(AND get it before anyone else!)

CLICK HERE TO GET THE DETAILS: Make Money Simple Again

 

But back to the tricky Q & A….

 

Question — Chris on Tenancy Changes

I’m disappointed at your quick video overview regarding proposed rental tenancy changes in Victoria. I have no problem with most of the suggested changes but, how can you not be alarmed at tenants being given the right to have pets and make modifications deemed ‘minor’ – whatever that means? We are not just talking about picture hooks here! After investigating further, this may include security measures and air conditioning! Who pays for these? You flippantly dismiss the pet comment with a remark about ’tiles’. Are you serious??? What about carpets and polished floorboards taking a pounding from pets’ claws and their excrement! I will tell you from experience that any sort of steam cleaning and fumigating of carpets etc….even at the tenant’s expense is not the answer. I’ve had to on at least two occasions (where both urine and faecal matter was so prevalent) had no choice, but to change the carpets! Forget the floorboards – too damn expensive to re-sand and polish!  Please tell me that these abovementioned points are also concerns for you?

 

SpeakPipe Question – Emma on Rate Statement showing a Decline

I have a 2 bedroom, 2 bathroom, 1 car spot investment apartment in Maribyrnong. I’ve just noticed on my new rate statement that the Capital Improved Value and the Site Value have decreased. It is a long term investment, should I be worried? Or should I just enjoy the lower rates this year? Thanks!

 

SpeakPipe Question — Lucas about Trump and IO Loans

… As we know, America runs at huge deficits, and Trump’s now starting trade wars with a whole bunch of economic blocks and their interest rates are going up so it’s going to be harder for them to service their debt. Deficits are going to become bigger & in case that backfires, and causes another GFC situation, what impact will Trump have on the Australian housing market? And, also, we’ll probably have another compounding problem with tougher lending criteria and people having less opportunity to roll interest-only with banks. So I’d like to know what you think will happen to the property market if these things happen, which is the worst case scenario. Thank you.

 

Question — Nick on History of Sales

Hi, I am a casual listener of the podcast and a first time buyer looking for a place to live in Melbourne. We have found a townhouse in Thornbury, a property that ticks all the boxes for us and looks like a good price. However, the property is selling for only a fraction over that which it was purchased in 2014 and is amongst about 50 of other similar townhouses — the property next door is also for sale. It is probably the best located/nicest property we can afford that we have found in Melbourne but those seem like red flags from an investment point of view. I thought I might just ask and see if you might be able to point us in the right direction as to how much we should read into previous sale prices and also about what saturation means in the townhouse market? Thank you and keep up the rad podcasts!

 

 

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