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188 | What’s Renovating got to do with Dating? Chat with Naomi Findlay

You heard that correctly, folks!

Renovating and Dating. YEP… turns out they’ve got something in common!

And to be honest — if it wasn’t for today’s guest, we probably wouldn’t have clued onto this comparison on our own. But, yep, you betcha… she’s definitely onto something!

Joining us on The Couch today is none other than Naomi Findlay, Australia’s Rapid Renovation Expert. And not only is Naomi the Principal and Founder of the International Institute of Home Staging, author of the best-selling book Ignite Your Property Mojo, but also she’s the host of digital TV Series The Reno Show and Location Lifestyle Living! PLUS (and this is where it gets even more interesting), she’s the creator of Rapid Reno Mate — the new app that’s made especially for renovators!

So, let’s just say — when it comes to renovating for profit, Naomi’s all over it.
Before we dive straight in and reveal the exact reason why renovating is just like dating…
… We’ve got some HUGE news for you!!

 

Our brand new book — Make Money Simple Again — is out THIS OCTOBER 2018!!!

>> Join The Waitlist Now (and get a surprise bonus!)

Yep, if you want to grab a copy of Make Money Simple Again before anyone else, hit up our waitlist and we’ll make sure it’s yours at the same time hits the shelves!! And, just to sweeten the deal EVEN MORE, we’re throwing in a free surprise bonus for our TPC Tribe Members who join the waitlist.

Now we’ve got other announcements as well but because we’re running out of space, we’ll do this in bullet points (who doesn’t like bullet points?!):

  • PIPA Survey is expiring tomorrow, 5 pm, Friday, 7th Sept. If you haven’t it, we’re asking you a favor. Your input makes a difference so please complete it here!
  • Don’t forget to check out our appearance on the Today Show5 Tips to Get an Investment Property. You can watch it here!
  • The Sydney Property Buyer Expo 2018 start tomorrow as well! We’ve got two jam-packed session:
    • Saturday, 10 AM – Special Length Masterclass – Ben and Bryce with Special Guest to talk about Buying your First Home / Investing in your First Property
    • Sunday, 1 PM – Ben on How to Achieve Financial Piece with 5 Properties or less!

So if you’re around town, please do come and say hi! Always love to chat with a fellow coucher and ticket’s on us too. Just click here and use this code: COUCH

That aside, let’s get back to Renovating/Dating!!

 

What’s to learn today?

 

p.s. By the way, in case you’re curious, the treehouse that Ben mentioned on the show is in Crossville, Tennessee, United States!

p.p.s. Don’t forget to join our Waitlist for the upcoming book!! >> Join The Waitlist Now (and get a surprise bonus!)

 

 

186 | Q & A – Should You Pay Down the Principle Loan When Interest Rates are Low? Are Multiple Offset Accounts a Good Idea? PLUS The Step-by-Step Process to Buy an Investment Property!

“The people’s podcast” is EXACTLY that today folks! Because here’s the deal… it’s full-on, gold-packed Q & A Day!!

And we’re diving headfirst into…

  1. Offset accounts —is it a good idea to have multiple offset accounts? And should you offset your highest loan or the oldest loan?
  2. Investing in outer suburbs versus inner suburbs
  3. The step-by-step process of buying an investment property
  4. Buying a home (PPOR) versus an investment property (IP)
  5. Lending — should you pay down the principle of an investment property when interest rates are low?
  6. Why should you join PICA?
  7. TWO amazing LifeHacks from our community!

Oh folks, we don’t want to pick favourites — but even we’ll admit it — these are some solid questions from our listeners!

From start (Mindset Minute) to “Knowledge is empowering, but only if you act on it”… this episode is ALL YOURS!

Before we jump into the questions, click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns or fill in the form below and we’ll send it to your email right away.

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Questions from Kyrillos:

  1. If you’re purchasing more than 1 property, can you get more than one offset account? And if so do you split all the cash between them, or is it wiser to pour in all the cash in the offset against a larger loan?
  2. To do with LocationScore — I’ve gone through and created a Spreadsheet of all of the suburbs within 50km of Brisbane’s CBD and found that most of the better-scored suburbs are actually quite far, in terms of the asset selection criteria you guys talk about. I understand that LocationScore is more of a demand versus supply score, so if you’re a Buy and Hold investor, at a suburb level, is buying in a better location still the better option?
  3. Would you be able to run through the process of buying a property? Could you run through a quick, step by step process of what happens when (research, when should you get building and pest inspection etc)?

Note 1: Looking for the link to join the Property Investors Council of Australia (PICA)? Learn more about their membership here!

Note 2: Keen to watch Ben’s Data Dive on Better Price Point, Better Location and Better Returns on Investment? Just click here or fill in the form below to get access to it.

 

Question from Cam:

My partner and I are wanting to buy 1st home. We are 27 years old, have $100,000 saved and are in our 3rd year of full time employment with a combined income of $150K. Should we be stretching ourselves to buy in the area we love FIRST, or should we be buying an investment property and hope to build equity and use it to purchase our Principal Place of Residence down the track?

 

Question from Sonya:

Hi guys, love the podcast. There’s a lot of talk out there about the risk of Australians switching from Interest Only to Principal and Interest loans. I’m currently paying Interest Only, with no interest to refinance as I am starting up my own business and currently don’t have any other income coming in. Half of my loan is fixed, the other half is variable. My question is: should I pay down the principle of my investment property while the interest rates are low to control the risk of a high interest rate at a later date and the Principal and Interest I would have to pay when my loan switches over? I’m less interested in the tax advantages, and am more interested in controlling risk and reducing my overall repayments. I know that the longer my Interest Only repayment is, the higher my repayments will have to be when it switches over — and that doesn’t sound great to me. I’m sure this, and the impact of Interest Only lending, is of interest to other listeners, so I hope you can provide insight. Love your work again. Cheers!

 

 

Data Dive! Better Price Point, Better Location and Better Returns

Fill in the form below and we’ll send it to your email right away! 🙂

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178 | Q & A : Is that 4th Bedroom Such a Good Idea? APRA’s Affect on Credit Cards & What’s The Secret to a Career in Property Investment?

If you’ve got a question about investing in property, then it’s in your best interests to listen to this episode!

Why? Because it’s our favourite day, folks… Q & A Day! And, not only is today just a couple of days away from the end of Financial Year, but also we’ve got some new, timely SpeakPipe Questions to answer! Which means … 1. It’s probably a bit too late to get your Depreciation Schedule into your accountant, BUT 2. You’re in for a high-powered learning session!

This Q & A is great for folks who…

  • Want to know how APRA’s regulations have impacted your ability to get a loan AND a credit card?
  • Are you seriously interested in getting a career in property investing and want to how to land a job?
  • Aren’t sure what tenants are REALLY looking for in your area, but want to maximise your returns?
  • Thinking about renovating tips, but don’t know if you should add a bedroom or where to put the toilet?
  • Wondering if it’s a good idea to live in your property BEFORE you rent it out?

 

So if this sounds like you, you better strap your headphones in!

 

But, as routine has it, before we tell you EXACTLY what the questions are that’ll give you all this invaluable information, we’ve got some housekeeping to get out of the way, like…

Our Melbourne LIVE Podcast has SOLD OUT!!!

We even did a dance about it! WATCH OUR FLOSS DANCE!

Yep, it’s true, folks! But if you’re lucky, another local listener might have something come up on the night, so you COULD land their ticket. CLICK HERE if you’re keen to join the waitlist, or find out more details.

 

We’re hiring!!!

Our company is currently looking for new members, so if you’re qualified, passionate and prepared to do what it takes to help other people, we’re looking for:

Interested? Send in your Resume and Cover Letter to [email protected]

 

We want your Money Hacks

If you’ve got a great Savings Tip or a way to make your dollar go that extra mile, we want to know about it! Let us know here.
If you have implemented the Money Smarts System where do you feel most vulnerable? Let us know here.
If you want to be a Case Study and you’d like to know how Money SMARTS can help you, let you know. Let us know here.

Remember to leave us your SpeakPipe Questions.

 

Question about Ideal Rooms and Features of Investment Properties from Joel:

Hey Bryce, Ben and Stiggy. My name’s Joel, from Adelaide. The question I’d like to ask is what kind of rooms and features do Australia’s want in the rental market at the moment? The property I’m looking at the moment is a 3BDR, open living area & a large home entertainment, or cinema, room. Now, looking at the plans, I’d probably convert that room to a bedroom, add some wardrobes, because it’s quite large, but I don’t know what other Australians would want. So I’d live there for a couple of years before renting it out, but I don’t know what Australian’s would prefer another bedroom, or that extra room for activities and stuff like that? Any input would be great, thanks!

Have a Similar Question? These Episodes will also help:

 

Question about Bank Assessment of Loans from Matt:

Hey guys, Matt from Canberra … via sunny London here! First up I can tell you our architecture and Land Tax in Canberra is just to make sure not too many of you and the other Capitals turn off the Hume Highway and discover Australia’s best kept secret. So thanks very much for helping to keep our secret safe there! My question is about the banks and them having to assess us against increasingly restrictive assessment criteria. But do they have to do that when they are looking at non-mortgage lending criteria? The Money SMARTS System works best with a nice, big credit limit with maximum interest free days and there’s sometimes great deals on car loans that are cheaper than the interest savings on our offsets this is often still with APRA regulated providers. But do they only assess you against the lending criteria for the lowest common denominator, essentially, when you’re applying for a mortgage vs non mortgage finance? Do they have to assess you for the same criteria with their other products? Thanks so much guys for everything you do!

Have a Similar Question These Episodes will also help:

 

Question about getting into a career as a Buyers Agent and Property Investment Advisor from Francis:

I know that this topic has been touched on in the past but I would love to hear Ben and Bryce give a few pointers to people (like myself) wanting to make a career in property investment, Buyers Agents and financial planning. In my case, I have done the REIQ (QLD) registration course but wondering if I need to complete the full license? Also, if I want to help people buy property in every state and territory in Australia, do I need to go and complete that course for each and every state / territory to become registered, or does the buyers agency take on that responsibility? Other than the QPIA course, are there any other ways to learn the industry while still working, so that people can transition into their new career relatively seamlessly? I just thought I would send this to support my recorded message and give a little more context to the question. Thanks again for everything you are doing!

Have a Similar Question These will also help:

 

P.S. Have you cut a full lap of The Property Couch yet? If not, and you’re too strapped for time, just make sure you MUST WATCH the first 20 episodes. Because they are FOUNDATIONAL episodes.

CLICK HERE to listen to our very first 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!

 

 

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

 

 

 

 

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