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Episode 326 | How To Win In A HOT Property Market (Part 2) – The Step-By-Step Process!

Part 2 of “The Step-By-Step Process To Win In A HOT Property Market” is HERE…

… and today’s episode is all about two things:

  1. The SEARCH for the property…
  2. The DUE-DILLEGENCE around the search and the finance (lending) for that property!

Folks, as we mentioned last week in Part 1 of this 3-part mini-series… we are in a HOT property market – listings are TIGHT.

Properties are selling in the blink of an eye.

And pretty much every major and secondary market across the country is SMOKIN’…

… so if you’re a property buyer playing in “The Big Wave”, it’s vital you educate yourself so you stay in front of the curb (while NOT getting swept up in FOMO) – this way, you can ultimately enjoy the ride and, yep, the fruits of your smart efforts!

We’ll be unpacking quite a bit in this episode, and you’ll be getting plenty of tips on how to conduct your search to find an investment-grade property (incl. what WE personally and professionally do and look for!)… and let you in on “The Top 3 Deal Does” and “Top 3 Deal Breakers” in a HOT property market… as well as how to be due-diligent with your finances, ESPECIALLY in a market that is moving at a rapid pace.

Remember – stay informed, don’t do anything irrational right now… and ONLY IF you’re in a position to “push play”, move quickly but SMARTLY.

… What a ride we’re in!

 

P.S. – Part 1 was all about the backdrop of how we got to this HOT property market, how to get your PREP work done and figuring out your brief… this ep’s getting into the nitty gritty of the property and lending story!!

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • The difference between On Market, Off Market and Advanced Listings!
  • The Investment Property Search Plan 🙂
  • How to conduct your asset selection
  • The Top 3 Deal Doers!
  • The Top 3 Deal Breakers!
  • What attributes do you need to look for in an investment property?
  • What “feeling” should the property evoke?
  • Why SHOULDN’T you be fearful of agents knowing your upper limit (in a hot market)?
  • Tips for dealing with real estate agents
  • How did we purchase a property when we were the 2nd highest price offer!?!
  • What research sites can you use – and what should you look for in each?
  • Questions to ask a Property Manager to help you with your search…
  • … Watch out for FOMO!
  • How to do your Due-Diligence with the property?
  • How to do your Due-Diligence with your finance?
  • What is happening in the lending space during a HOT property market?
  • How can you fast-track your home loan application?
  • Settlement mistakes in a HOT market
  • Red flags certain properties and when to walk away
  • The relationship between % LVR and the type of property to buy
  • How many properties are going to auction this weekend!?!

 

 

Episode 325 | The Step-By-Step Process To Win In A HOT Property Market – Part 1

There’s no doubt about it – the property market is HOT and it’s only getting HOTTER!

Mark our words, folks – we’re in a Seller’s Market right now – and we’re talking Right Across The Country – which means if you’re serious about entering the property market, there are some CRITICAL things you need to know and do in order to make sure your execution is successful and, here’s the biggie…NOT something you’re going to regret further down the track.

This is what we call “The Big Wave” – so today is the very first episode of our new miniseries that will walk you through the ENTIRE Step-By-Step process to buy in a HOT property market.

This is the proven technique WE are currently using as we guide our clients through a hot market – so, we’ll be walking you through…

  • How to organise your Buying Brief
  • How to prepare yourself BEFORE entering the market (the team you need, the deposit you need, LVR requirements, the planning process etc)
  • How to search for an investment grade property (what to look for, where to look for it, tips for handling real estate agents)
  • How to be due-diligent with your finances
  • How long it takes for banks to process your loan (especially in a hot market)
  • Red flags for certain properties and when to walk away
  • Negotiation and Buying Tips specifically for a hot market
  • How to work out the difference between Quality Assets vs FOMO
  • What to Do AFTER Your Purchase
  • …. pretty much everything property investors need to know as they enter a property market that’s heavily swayed in favour of the seller!

 

Like we said today is just Part 1 – so please start from the beginning, and tune into the next upcoming episodes to make sure you’re in a position to WIN – because now is NOT the time to be doing anything silly!

 

Free Stuff Mentioned  

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Here’s some of the gold we cover…

  • 00:15 — 10 MILLION DOWNLOADS!
  • 08:19 — Our proposal stories (LOL.)
  • 10:37 — What has pumped up this property market?
  • 11:41 — What are we seeing NOW?
  • 12:37 — The economic flow on effect from property (did you know this number?!)
  • 14:05 — A true story of how quickly things can change!
  • 15:20 — WHY is the property market so hot?!
  • 16:58 — The first thing you need to do!
  • 17:33 — The Big Wave :0
  • 18:34 — The Buyers Decision Quadrant
  • 19:24 — Quick tips to asses the quality of an asset
  • 21:03 — The 80/20 Rule
  • 22:05 — The “S” word that changes everything!
  • 24:25 — What to do if you’re buying as an OWNER-OCCUPIER
  • 25:49 — What to do if you’re buying as an INVESTOR
  • 26:50 — Why most people fail…
  • 28:17 — How do you work out how much you should spend on a property?
  • 29:05 — Realistic historical capital growth to look for…
  • 32:00 — The biggest killer 🙁
  • 34:11 — The Three Things to focus on to identify what property YOU need to buy
  • 35:09 — Why are you incentivised to cut corners in a hot market?
  • 35:23 — What happened with one of the properties we bought last week?!
  • 36:54 — The property investor mindset
  • 37:37 — Why you should NOT “play it cool” right now!
  • 40:11 — The five-step process to build wealth
  • 41:25 — Three questions to ask yourself before you do ANTHING!
  • 40:54 — HOW TO CLARIFY
  • 40:33 — HOW TO EVALUATE
  • 44:22 — HOW TO PLAN
  • 45:50 — What happens when you buy a higher-priced asset?
  • 47:23 — Capital growth asset OR balanced asset OR yield asset?
  • 49:24 — HOW TO IMPLEMENT (WAAY more coming!)
  • 49:45 — HOW TO MANAGE
  • 54:47 — Who do you need on your team?
  • 55:46 — What do you need to ask a Building & Pest Inspector in a HOT market?
  • 57:51 — If you’re buying “subject to”, what do you need to keep in mind?
  • 58:15 — What to do with a contract!

and…

  • 1:04:26 — What else have we’ve got coming for you in this miniseries?!
  • 1:05:05 — The latest property market stats (AKA proof it’s a hot market right now!!)

Episode 324 | Property Market Outlook 2021 – Chat With Cameron Kusher, Executive Manager of Economic Research at REA Group

The pendulum has swung and Australia’s property market is expected to be very, very different in 2021!

On the back of what we can only describe as “a year we’ll never forget”, property is about to bounce ahead in a direction very few could have predicted during the height of the pandemic panic.

In this episode, you’re about to hear an expert forecast that reveals key market insights into the Property Market Outlook for 2021 (including suburbs set to soar this year and potential challenges up ahead!).

Joining us is Cameron Kusher, Executive Manager – Economic Research at REA Group. Cameron has over 15 years’ experience working as a property market analyst (both residential and commercial). His experience spans valuations, property development, development consulting, commercial property research as well as residential property research. Through his work, Cameron has gained a thorough understanding of property market fundamentals across demographics, trends and economics, making him a widely sought-after commentator and presenter on property market conditions and emerging trends.

Oh, and prior to joining REA Group, Cameron spent more than 11 years at CoreLogic where he was the Head of Research for Australia.

… If you want a realistic look into how property will perform this year and where you can expect to see price growth and high demand, then this episode is for you.

 

Just a Sample of What We Cover:

  • Economic Forecast – For Australia and International
  • Property Demand – Will There Be Unprecedented Demand This Year & What Areas Will Be Most Popular?
  • Property Supply – Will There Be A “Building Boom” This Year & How Will Supply Contribute To Property Prices In 2021?
  • Sales – How Do Current Property Sales Compare From This Time Last Year?!
  • Lending – Why People So Attracted To Debt Right Now… And Will This Will Lead To Increased Regulation? (… Plus, When Will Interest Rates Go Back Up!?!)
  • Property Prices – What Will Contribute To Price Growth & What Will We See Over The Next 60 – 90 Days?
  • Property Segments – A Breakdown of Property Markets Within The Country (Incl. Strange News On Regional Properties)
  • Buyer Behaviour – Is FOMO Coming?
  • Suburbs To Watch – Specific Suburbs Expected To Soar in 2021!
  • The Recession’s Hangover – How Long Will We Live With The Repercussions of The Recession? (And What Will We See Continue In The Rental Market?)
  • Top Tips For Property Buyers and Investors – Especially In The 2021 Property Market!

 

Resources Mentioned

 

 

Episode 313 | Investing Since 1967: How This Legend Outperformed The Marketplace By A Whopping 7.1%! – Chat with Jock Bing

Want to hear a property masterclass from one of the best of the best in the industry?! And what if we told you this guest has not only been investing since 1967… but also OUTPERFORMED the marketplace by a whopping 7.1% during this time?

That’s right… today’s guest is one of the LEGENDS in property investing – one of the first EVER Buyers Agents in the country, in fact – and all of the properties he’s purchased for his clients have been scrutinised over a 47-Year Review… and their growth performance EXCEEDED the entire marketplace!

So how did he do it?! And, crucially, where and what properties did he buy to get such a phenomenal return on investment?!

Introducing Jock Bing, Executive Director and CEO of Portfolio Property Management Services – a property investment, buyers advocacy and management firm that Jock founded back in 1967!! Yes, he is one of the trailblazers who invested in property WAAY before it was ever a “thing”… and guided others to do the same; getting them a ripper of a return in the process!

With over fifty years of in-the-trenches experiences, Jock has an enormous amount of wisdom to share… and we feel very fortunate to speak with someone who doesn’t just have longevity in the game, but is one the great pioneers and thought leaders in the property investment industry!

Fun Fact: Jock has actually been one of Ben’s personal mentors throughout his own investment journey… and we’ve been trying to convince Jock to come on to The Couch for some time 🤣… ‘cos the insights this man has is Nothing But Pure Gold.

Boy, oh boy, oh boy… strap yourselves in for a Property Investment Masterclass, folks… you’re about to have your mind blown!

Also – if you wanted to get more information on our Start & Build course, you can get the Limited-Time Discount on Start & Build here. (Discount ends on 22/11/20)

 

Stuff Mentioned…

 

Here’s What We Cover…

  • Who is Jock Bing?!
  • What was the property market like back in 1967?
  • How did he come up of the idea of investing in property?
  • Who lent money to property investors in the beginning?
  • How much were properties back then?
  • How did he get people to invest in property when it wasn’t really “a thing” yet?
  • What did this process look like?
  • Why did he NOT go for the new properties?
  • What suburbs were they buying in and why?!
  • The Why and How of attracting university students
  • What does Jock see happening to the future of the property marketv?
  • What does “investing in an apartment” really mean?
  • Why did Jock say NO to Spruikers?
  • The Sydney and Melbourne Market shift…
  • The rationale behind investing in existing properties…
  • What was the appeal of artisan/workers cottages?
  • How do you attract a higher quality tenant in a suburb that’s in the process of gentrification?
  • The FOUR Things You Need To Consider In An Investment Property
  • When did it pivot from 60 – 66% deposits with solicitors to 80% funding with banks and then using existing equity to get 105%?
  • How did the introduction Capital Gains Tax affect property investors?
  • Why did he take the long term approach to property investing?
  • How many properties was he purchasing for each client?
  • What would Jock do differently? Would he do anything differently?
  • The implications of investing in property on main roads and compromised areas…
  • … Did someone say “NSW reform to Stamp Duty”?!

 

 

 

Episode 312 | Don’t Push Your X-ing Luck: Investing In Properties Close To Train Lines & Tips For Divorcees

Investing close to train lines. Buying Grandma’s house. ‘Til divorce do us part.

And then this… Should You Buy “The Worst House In The Worst Street”… IF It’s In The BEST Suburb?!

In this Q&A episode we’re giving you the answers to the property investment questions that keep you up at night. (Quite literally. One listener was pondering LMI at 3am!)

We’ve got everything from how to invest in property as a divorcee, using loan redraws, whether or not you should purchase your grandparents’ property for investment purposes, ways to release equity, tips if you’ve only got fifteen years of working life left, what impact train lines have on the value of property… the works!

Suss out the exact questions we answer below.

Otherwise hit play and learn how NOT to push your “CROSS”-ing luck! 😉

 

 

Question About Buying Grandparents House From Lucy

Hi Bryce and Ben, Long time listener of the show. Wanted to reach out to get your opinion and views on a couple of things related to investing in my grandparents’ home in Brisbane and whether or not it is a good idea to:

  1. a) buy your grandparents house as an investment property and
  2. b) investing in Brisbane (suburb, Stafford).

My grandfather built the house 60 years ago. He recently passed and my grandmother is moving to a retirement home. I have an opportunity to buy this property and have always wanted to. I know you shouldn’t invest for emotional purposes, but it’s not just that. This property is right by the brook, at the end of a cul-de-sac and is inner city Brisbane (less than 10km from the city). I’m from New Zealand and have seen the suburb and city change so much over my 30 years of visiting them there. The house is on a large piece of land. I think over the next few years the prices are only going to continue to rise and desirability in that area is only growing so I see great capital growth potential. The house is an odd configuration and built in the 60s. It really needs to go at some point sadly, and if sold, I know a developer will bulldoze and rebuilt 3 townhouses on there as they are doing in the surrounding area. My current plan would be to rent it out as is for a few years, and eventually replace it with a nice family home to have as a rental to a family. The house is estimated to be around $660k from research and houses on that street are getting up to $1m in some cases. I have one investment property in New Zealand that has been a great asset to build equity in. I see my grandparents’ house as a low yield, high capital gains opportunity to buy, hold, renovate. Would love to hear your thoughts Thanks, Lucy.

 

Question About Tips For Divorcees From Cathie

I have recently separated from a 25y marriage and about to begin the property settlement process. I’m hoping to keep the family home and then begin my property portfolio. Where should my first stop be to make sure I set my finance and PPOR correctly? What tips or suggestions would you have for someone who may have 15 years of working life until retirement? I have just started your Money S. M. A. R. T.S and Start and Build program and am working my way through your podcasts(loving then ALL!) I would like to have my PPOR paid off and generate enough passive income of about $1000/W. I want to get this right from the beginning. This is a new stage in my life and I want to be able to feel comfortable in my financial choices and also be able to provide and be a role model to my children. Thanks Guys!

 

Question About Investing In Properties Close to Train Lines from Yannick

Hey guys, 2 questions:

  1. Just wondering, how does a train line across the road or backing onto the backyard affect the property value?
  2. Also we’ve all heard the saying, worst house in the best street, does this hold true for the worst house in the worst street of the best suburb?

I’m looking in Ballarat so being a regional area I’m not sure if all these factors are the same as in Melbourne. Thanks very much in advance!

 

Question about Using Funds in Redraw from Andrew

Hello, My wife and I have owed our first home for 2 yrs. Currently we have a redraw on our mortgage and have paid off an extra $100,000 (available for redraw) after a bit of research and listing to your tips, I am in the process of organising an offset account instead. Now, how can I use the current available funds in our redraw? We want to buy our second home in the next 6 months. This 2nd home will become our primary residence and we will start to rent out the first house. Can I simply move the available cash over to the offset once set up and then use it later on to purchase the second house?

 

Question about  Why Does LMI Even Exist from Mark

If LMI is an insurance that protects the bank in the event you can’t pay, why would the lender need to charge it if the buyer/investor can prove they have income protection and could always pay their mortgage? Just a thought I had at 3am this morning. Lol.

Also, can you use equity in your PPOR to purchase an investment without actually withdrawing it? A bit similar to a parent being a guarantor. Thanks guys keep up the good work.

 

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