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The Bank of Mum and Dad on Weekend Property, Today Show!

On the Today’s Show, Weekend Property this time, we talk about using the Bank of Mum and Dad to get on the property ladder! Saving a deposit, how it can be done and what else do you need to consider?

Hope you enjoy this segment! If you’d like to learn more about joint venture and guarantor loan, here are some helpful episodes!ย >>

  • Episode 46 | Q&A โ€“ Things we would have done differently, Buying sight unseen, Tax and purpose of property, Investment grade in regional centres and Joint ventures
  • Episode 116 | Q&A โ€“ How does Guarantor Loan actually works, Fixing a Joint Venture, Investing in WA and more

 

And there are heaps of other free resources on our website. We update them every week so make sure you check them out before you go. ๐Ÿ™‚

Any questions or suggestions for new topics? Just send them in to [email protected] or fill in the form below and we’ll chat about it at our future Q&A episodes.

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

If youโ€™ve got a question about investing in property, then itโ€™s in your best interests to listen to this episode!

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

This Q & A is great for folks whoโ€ฆ

  • Want to know how APRAโ€™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?
  • Arenโ€™t sure what tenants are REALLY looking for in your area, but want to maximise your returns?
  • Thinking about renovating tips, but donโ€™t know if you should add a bedroom or where to put the toilet?
  • Wondering if itโ€™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 thatโ€™ll give you all this invaluable information, weโ€™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, itโ€™s true, folks! But if youโ€™re lucky, another local listener might have something come up on the night, so you COULD land their ticket. CLICK HERE if youโ€™re keen to join the waitlist, or find out more details.

 

Weโ€™re hiring!!!

Our company is currently looking for new members, so if youโ€™re qualified, passionate and prepared to do what it takes to help other people, weโ€™re looking for:

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

 

We want your Money Hacks

If youโ€™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 youโ€™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, Iโ€™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 โ€ฆ 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 youโ€™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 โ€” Sydney LIVE Podcast ft. Q & A

If youโ€™re reading this, youโ€™re probably keen on property investing โ€” regardless of whether or not youโ€™re a beginner or a multimillion-dollar property portfolio ownerโ€ฆ 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 workโ€™s rewarding and a passive incomeโ€™s exciting, there are also other factors competing for your time and attention, and โ€” letโ€™s face it โ€” other things youโ€™d prefer to do, like put your feet up (and watch the Pies and the Dockers if youโ€™re us), or simply relax with your loved ones doing what YOU love most.

Realistically folks โ€” if you invest in property the right way from the get-go, you shouldnโ€™t have to sacrifice your life. Itโ€™s that simple. But itโ€™s not always easy to get this balance right.

So, thatโ€™s where todayโ€™s VERY SPECIAL episode comes in. Yep, itโ€™s very special becauseโ€ฆ

  1. Itโ€™s OUR LIVE SHOW IN SYDNEYย where we answer our Property Couch Tribeโ€™s questionsโ€ฆ which just might be very similar to the ones YOU have!
  2. Itโ€™s a LIVE GUIDE to help you prioritise your property investment journey AND still have a life!!

 

Yep. Reclaim market confidence, get through the โ€œmessy middleโ€, cut the noise and letโ€™s get some good olโ€™ honest advice!

 

*** Oh, and folks โ€” make sure you tune in till the end for a special announcement from Ben! ***

Back to todayโ€™s questions answered at OUR LIVE SYDNEY PODCASTโ€ฆ

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 itโ€™s easy to get a bit disheartened when you don’t see obvious progress. Itโ€™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.

ย 

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 โ€” 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 itโ€™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 changesโ€” so I have depreciation reports, and claiming all thatโ€™s all good. But I have bought 1 that settled with the changes the latest budget. Iโ€™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 donโ€™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:

Iโ€™ve got a friend who is helping people buy property in Brisbane โ€” theyโ€™re friends of ours โ€” and theyโ€™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 canโ€™t do anything about it because I have no credentials โ€” Iโ€™m a Tradie โ€” but Iโ€™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?ย 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?ย Join PICA ย โ€“ itโ€™s only $5 for 1 Year Membership!

 

 

175 | Five Foolproof Ways to Conquer your Finance in this Changing Landscape

What an episode weโ€™ve got for you today, folks!! Weโ€™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 APRAโ€™S handbrake on the lending sector, what banks look for can mean youโ€™re jumping through a few more loops just to get approval… ย so are there ways to make getting finance easier??

โ€ฆ We think there ARE. ย And that is what todayโ€™s episode is all about โ€” ways to boost your lending potential. Weโ€™ve scoured the corridors of our business to give you some Mortgage Broking Secrets AND a few little odds & ends of our own!!

So โ€ฆ what do you need to know?

 

 

Also folks, donโ€™t forget,

โ€ฆ weโ€™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

 

 

 

 

164 | Q&A – How to Avoid Poor Loan Structure

Itโ€™s Q & A Day, folks!!

Off the back of last nightโ€™s webinar, โ€œ7 Deadly Sins of Building a Property Portfolioโ€ weโ€™ve got plenty of questions leftover that we reckon are going to help you with ALL THINGS LOANS and INVESTMENT LENDING!!!

Before it kicks off though โ€ฆ weโ€™ve got a BIG announcement (well, big news for Bryce!!)โ€ฆ so make sure you keep an ear out!

So, weโ€™ve got SIX questions to get through, which will help you in avoiding poor loan structure and more importantly, your planning stage of building a property portfolio!

 

Question from Mark:

I have a PPR mortgaged at the moment, as does my girlfriend. We wish in the future to turn both into investment properties and buy a further property to live in long term. Should we be spending money doing any works to the properties that we currently live in? Or should we spend the bare minimum and save every cent for our โ€œtogetherโ€ house?

 

Question from Laudy:

I thought they’d changed the PPR loans and didnโ€™t allow interest only loans anymore โ€” how can this be done?

 

Question from Dean

Can you use equity in your investment properties to wipe out your PPR mortgage?

 

Question from Chris:

I understand the concept of โ€œtapping into property 1’s equityโ€ but HOW do we do it? Is a Line of Credit an appropriate method? Is this with the same bank or a different bank? Thanks guys, appreciate the help!

 

Question from Matt:

In the case studies it shows the debt on investment properties being paid off over time. When do you switch from IO to P&I? Should you refinance after 5 years to extend IO period as long as possible or switch to P&I when your cash flow allows?

 

Question from Shanki:

Regarding loan structure, can I use the equity from 1 property to pay the deposit for 2 separate investment properties? Is it similar to collateral?

 

 

p.s. Here are all the links for today’s podcast!

 

 

 

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