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Episode 361 | When Is It Too Late To Get Into Property?

Have you left it too late?

Has the market moved?

Are you too old to start?

With the media hyping on about how hot the property market is these days, we get that some of you might be feeling a little anxious (even frustrated!). Everywhere you go, you’d probably hear people saying, “The prices are crazy these days!”

And yes, they might be right.

So… If you’re worried that it might be a bit too late to start investing in property, then today’s episode is perfect for you.

And the best part is…

There are quite a few calculations today too!

Better get a pen and paper on standby or just reduce the playback speed on some parts 😉

Oh! Before we go ahead with the questions, just a bit of a teaser… Make sure you stay till the end cause Bryce and Ben will be sharing their early prediction on how this year’s property market will end and where will next year’s market go on the “What’s Making Property News” segment!

 

 

Free Stuff Mentioned

  • Summer Series is around the corner and we’d like to hear from you! If you’ve gone through (or even going through) a financial transformation journey, let us know. We’d love to listen to your story! Simply fill in the form below or go to  thepropertycouch.com.au/mystory
  • We are also looking for a talented copywriter/storyteller to join our team! If you’re interested, learn more here:  https://www.seek.com.au/job/54189273
  • (Podcast Series) The Armchair Guide to Property Investing! Listen on Apple or Listen on Spotify
  • (Free Book) The Armchair Guide to Property Investing – Get a copy here

 

 

The Questions We Answer

Question from Luke about Having a $700k Mortgage in Late 40s

My wife and I are at a crossroads.
We never thought owning a home was worth it until now…and I reckon we’ve missed the boat…
For years my wife and I deliberated over buying a home. We travelled for work in our 20’s so renting was easier while we were on the go… by the time we settled down to have kids one income made it almost impossible to save for a deposit.
Fast forward 15 years and we’re 46 with 2 teenage kids and still renting…
We have around $260k in super between us plus $80k in savings. We’re sick of seeing that $3k rent money disappear from our banks each month and we are scared of renting as we age further so is it worth having a $700k mortgage at our age? And if not, what is the best way for us to secure our future?

Recommended episodes for Luke

 

 

Question from John about Selling Shares to Put in an Offset Account

Hi Bryce and Ben.
Love the podcasts and I’ve been a keen listener for a couple of years now.
I’ve learnt a lot from you guys and have recently just bought my first investment property. I also have a small amount of shares invested in the market which I’ve made capital gains on.
My question is – is there any benefit, tax or otherwise, in selling my shares and putting the money in my offset account?
For example, can I reduce my capital gains tax on my shares by moving that asset into the offset account?
P.S GO GWS!

Recommended episodes for John

 

 

Question from Renee about When to Buy a PPOR?

Hey guys, I have recently found your podcast and am grateful for the wealth of knowledge you provide.
So firstly, thank you!
I have a potential podcast question. The penny has just dropped regarding what you said about obtaining negatively geared investment properties with an aim for capital growth early on, then leaning towards neutral and cash flow positive properties later on.
My question is, strategically when does buying a PPOR fit into that scheme? Should you invest, sell, buy PPOR then invest with the equity? Particularly in south Sydney where anything 3 bedroom is at least $1.5 million.
I thought some personal context might be helpful.
I’m 25 and have an apartment in south Sydney that I’m currently living in but could be an investment long term. I have a stable income about $115k that will go up to about $150k by the end of next year which is when I will hopefully buy an investment property.
Obviously holding on to both properties would be the goal but I’m struggling to see how I could buy a PPOR by 6 or 7 years time without having to sell both.
Thank you in advance!

Recommended episodes for Renee:

 

 

Question from Peter about Get a Loan with high interest vs. not buying?

Hi Bryce and Ben,
Love your podcasts. Want to ask quick question in regarding real estate investing.
I have reached my borrow capacity but can do low doc loans, would you think it better to get a loan with a bit higher interest than not buying property?

Recommended episodes for Peter:

 

 

Episode 360 | The XYZ of Property Pricing: Getting The Rules of Engagement Right

Imagine this…

You found your ideal property in the perfect location. You’ve inspected it, you know exactly what the purchase price is going to be AND you’re pre-approved for that budget. You’ve spoken to the selling agent and is crystal clear with the vendor’s motivation. You negotiated some terms and put your best offer forward and BAM!! it got accepted right away. Happy days!

Unfortunately, it’s probably NOT going to happen in the current market.

When it comes to property prices, getting it exactly right would be perfect for buyers. But in a hot market, it’s very very hard for most buyers to nail it right away. Unless of course you’ve got a lot of spare time in your hand or you’ve engaged a professional to help you out. In today’s episode, we will share the XYZ of property pricing that our own buyer’s agent team are practicing and some of the tips that you can implement right away to get as close to the selling price as possible.

But… are you wondering if it’ll work in the current market and with all these new ways of transacting?

On top of that, with lockdown restrictions, how are you going to inspect properties and if you can’t, should you buy sight unseen?

That’s exactly what we are going to unpack today.

PLUS Bryce and Ben will also be addressing the big old Fixed Rate vs Variable Rate question. With the impending lending requirement changes (check it out in Ben’s RBA update), it’s probably best that you get your loan questions answered sooner rather than later!

Tune in now for the gold!

Q’s we answer further below 👇

 

Free Stuff Mentioned

  • Summer Series is around the corner and we’d like to hear from you! If you’ve gone through (or even going through) a financial transformation journey, let us know. We’d love to listen to your story! Simply fill in the form below or go to thepropertycouch.com.au/mystory
  • We are also looking for a few talented individuals to join our team! From a Journalist/Copywriter to an Associate Property Investment Advisor and more. If you’re interested, head to our Career Page here to learn more.
  • (What would you like to be known on the podcast?)

  • A quick summary on your Money Story!
  • Don't spill all the beans! 😉

  • And finally, have you implemented the Money S.M.A.R.T.S?
  • This field is for validation purposes and should be left unchanged.

 

The Questions We Answer

Question from Mark about Buying in Covid Lockdowns

I’m currently looking for a home in Melbourne to live in.
Over the last month because of COVID you haven’t been able to inspect any properties however in the last month there’s been about four properties in the same suburb that have sold sight unseen for about $50 to $100,000 above asking price.
Is there any way you can explain this behaviour and give me any advice on how to could compete against these people.

Recommended episodes for Mark:

 

 

Question from Tracey about Best Questions to ask a Real Estate Agent

Hi Property Couch Team!
Thanks for the podcasts it’s really driven myself and hubby and has given us the confidence to buy investment property, so much now that we’re looking to buy a second one and this one I’m looking at the Gold Coast.
My question is I have a good handful of properties that I’m looking and interested in but they’re nearly all at auction and I live in northern New South Wales.
When contacting a real estate what are the the first best questions to ask when you can’t go to view the property and you wanna see if it’s in your price range.

Recommended episode for Tracey:

 

 

Question about Interest Rates – Fixing Your Loan before buying an IP

Hi guys, first of all thanks for the great podcasts. I’ve been listening for a little while and super inspired with all the informative information.
Just a quick question about interest rates and whether or not I should lock in an interest rate before planning to buy an investment property.
So I’m about to buy an investment property within three months. What are your thoughts on locking in a fixed interest rate today rather than waiting for three months?

Related episodes:

 

 

Question from Rhys about Buying Off the Plan and Co-Living Spaces

Good day Bryce and Benji, Rhys here I just want to ask two questions if that’s OK?
First question relates to property advisors/buyers agents. The guy who I’ve been recommended by a friend I’m a bit skeptical of because he doesn’t charge outright and so he takes Commission from the sale of properties and these properties tend to be building like off the plan from developers or builders.
Second question relates to this, he’s really big on co-living spaces, you know for young professionals or whatever, who are seeking out shared living space just because of the rental yield.
I’d love to hear your thoughts on this. I love your show guys thanks for that

Related episodes:

 

 

Episode 296 | (Part 2) How To Reach The Summit: Achieving $2K Per Week in Passive Income – Q&A

We’re picking up where we left off last weekhow to create $2,000 per week in passive income and actually design the lifestyle you’re proud of (instead of just daydreaming about it)!

This means we’re riffing through a stack of listener questions, including how to speed up the process (and what’s at stake if you do), the true power of compounding and the ‘secret sauce’ of property investing that has nothing to do with the amount you earn.

Plus, we’ll explain WHERE the smart money goes and why there’s always a “Flight to Quality” (something we’re currently witnessing… even during a pandemic!).

You’ll get the pros and cons of active vs passive investing, a mindset reframe on how to look at debt and, excitingly, a case study demonstration of capital growth versus yield! (yeah, Ben did a bit of homework for this one… shock horror!)

We obviously blew out with our answers (as per usual) so it’s another epic episode, but we’re positive the science of achieving $2K per week as a passive property investor (aka. reaching the summit!) is going to help set you up for life and take your property, finance and money management knowledge to the next level 😉

All Q’s listed below. Enjoy!

 

Free Stuff

 

 

And here are the questions!

Question from Esha Frykberg
Any advice for those who want to be able to semi retire on less with the portfolio sitting in the background working towards that goal? i.e. having a portfolio that is making $1k/week by age 50 with the aim to be making $2k/week by 65, or is this just going to be the natural progression of a maturing portfolio. Would like to be able to gradually have the option of winding back work rather than working hard for 20 years and stopping.

 

Question from Craig Chalmers
If looking to keep a $2k per week passive income in retirement. When do you switch from growth to yield assets for passive income? Or do you purchase both during acquisition phase as a balanced portfolio and then sell down the growth asset to realise the gains and pay off the yield asset for holding for passive income?

 

Question from Steve Gilmore
In retirement would you prefer $2 million worth debt free, or $4 million with 2 million debt?

 

Question from Adam Wild
Legends! first time caller, long time listener. What are the pros and cons of a passive vs active strategy to retire debt? What would you guys prefer given the choice to do either?

 

Question from Megan Mary
How do you achieve it without waiting 30 years+?

 

Question from Craig Cooper
How truly do-able is it over a 10-year time frame?

 

Question from Jeff William Simons
How do you keep patient and resist the temptation to sell?

 

Question from Kosta Dokolas
What strategies do you recommend to retire down the debt sooner than the 20-25 year slog? Thinking about older investors close to retirement or ambitious investors looking to get to that 2k per week sooner. Love your work, go blues! 😜

 

Question from Steven Jermey
Tips on speeding up the process on one income, ie 70-90k pa. I’m onto 3rd property (cheeper properties while renting. Interested on your take for the lower “average” income. For me it’s taken a long time, and balance between quality of life now (with a family) and looking to the future.

 

Question from Jared Kennedy
Is it possible on a single income (without any dependents)? Earning between 70 – 80k a year?

 

Question from Arty McFarty
I’d like to see the figures behind your claims.

 

 

 

 

Episode 295 | How To Reach The Summit: Achieving $2K Per Week in Passive Income – Q&A

So… earlier this week, we posted this on our Facebook page:

And the response was overwhelming! Thank you to everyone that everyone that wrote in and that’s why, in this Q&A episode, we cover everything you need to know to build a property portfolio that pays you a passive income you can live off.

Here’s the deal… if you’ve listened to us for some time, you’ll know already that we bang on about “$2K per week” a fair bit. So, first we’re going to tell you what we mean by this “magical” number. Including why it’s NOT magical at all, but instead is actually ACHIEVABLE for many folks!

From there, we’ll dive deep on the considerations and investment strategies to build a portfolio, like the big one – how to finance multiple properties without significantly impacting your cashflow! Plus, we’ll walk you through heaps of new questions on this topic AND share the secret of reaching the summit of $2K per week!

It’s a big episode, but we’re about to deliver some fresh gold nuggets as well as some quality reminders. Tune in now & let us know what you think!

Psst… We’ll be continuing this episode next week as we received a tonne of questions on the “Who, What, When & How” of achieving a passive income… so keep an ear out for that.

You can suss all of the questions we answer today further down 😊

 

To the summit we go!

 

Free Stuff

 

Questions Answered In This Episode…

Question from Mark Bradicich:
Is it $2k clear of expenses?

 

Question from Samantha Dean:
How many properties, earning how much per week would you need to acquire within your property portfolio in order to earn a passive income of $2000 / week ? And would this be $2000 / week income be during length of loan (say year 10 of the loan – when it’s negatively geared?) or once loan is entirely paid off and all income coming from said property is positively geared?

 

Question from Hugh Nitt:
2k is a great target! Is it possible/likely for a couple to achieve this income individually as a goal? Granted that every couple would have their own set of specific financial / income scenarios that impacts this goal. For example, a combined 2k each. 4k total passive income. How rare is this to achieve?

 

Question from Christine Browning:
If you are over 58 can you still achieve this?

 

Question from Helen Harrison:
I’m 52 years old and woken up to passive income. Have I left it too late to build wealth? Have equity in my home of residence. Educating myself including a daily lunchtime dose of your podcast!! Thanks

 

Question from Jenny Ann:
With $500k to invest and low cash flow, can this be done and how? (Ps I’m 54, single and a sole trader with only 4 months income statements, otherwise debt free).

 

Question from Sabrina Gajnabi:
What is the best way to find an investment savvy mortgage broker?

 

Question from Benjamin Tuxford:
What is the best way to find an investment savvy mortgage broker?

 

Question from Angus O’Loughlin:
At what stage do you go to principal and interest to try and retire the debt?

 

Question from Angela Niznik:
s it a good idea to sell an investment property to wipe out most of the mortgage on own home and significantly improve cashflow for further investments property purchases?

 

Question from Mat Newbury:
Is using LMI a good strategy to buying a third investment property to get in quicker? Seeing as the LMI is tax deductible. Rather than waiting for the equity to build and potentially missing out on a good buying opportunity in that time. Currently have one in Melbourne and one in Brisbane and am a borderless Investor. Would love your advice!

 

 

 

Episode 293 | What Property To Buy & Practical Tips For Asset Selection

Have you ever wanted to know what property an investor should buy? It’s a question we get asked ALL the time and for a very good reason…. pick the wrong property and you’re in trouble!
So today’s central theme is all about Asset Selection! i.e. What type of property should an investor buy? What indicators can we measure to prove it’s a good one? How can you increase your capital growth?

You’ll get the answers to TEN quality (and recent) questions from our listeners… and we’re not holding back with our responses! (to the point where we actually had to tell ourselves to hurry up so we could get through all ten for you..!!)

This episode is a must-listen for anyone even remotely interested in property investing, folks! So plug in your head phones now! You can check out all the questions we answer below. And remember to write in here if you have a question for us, or follow us on Facebook so you don’t miss out on impromptu shout outs like the one that inspired this episode!

Finally – Asset Selection is one of our Four Pillars of Mastery for a reason, folks! So please choose wisely when it comes to your investment property! Tune in now and get the practical tips to find an investment grade property… 🙏

 

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Questions

Question from Sambooks
Long time listener, first time engager.! We have been epically saving for our first home, which we would like to have the option to make an investment property when we grow out of it. Only catch is we currently live and rent in the Whitsundays, which is struggling significantly due to lowered tourism rates from COVID. Having listened to the podcast for over 2 years, I understand the risks of purchased property in a location with a poorly diversified economy. Understanding that you are unable to provide personal financial advice, is there anything else we can do to mitigate the risk, as we love the area (& both have stable employment) and can see the potential of some of the lower range properties coming into the market.

 

Question from Matt
I often see properties bought by Empower Wealth with the historical capital growth rate – on Facebook, Instagram etc. Is this a factor to consider when deciding whether a property will perform over the long term (20+ years)? Thanks in advance

 

Question from Todd
Q: Borderless Investing / Buyers Agents

My partner and I are looking at buying our next property interstate to 1) diversify our portfolio and 2) reduce land tax liability. Are there Buyers Agents which cover Australia wide who can give an objective view of which interstate market to buy in? Or do we need to reach out and find a local buyers agent in each state?

 

Question from Dan
Obviously depending on your own horse and what course you want to ride, but typically speaking Is it worth having 2 smaller to mid-range properties delivering high yield ($300-350k with 6% y) or worth chasing a high growth high level home (600-700k with 3%yield)?

Or even if the yield and growth stories were aligned, is 2 at half the pa income better than 1 at full pa income? Lower or higher risk?

(Psst… Bryce and Ben here. If you’re interested to learn more about this subject beyond our answer, check out this free case study on growth versus yield 😉)

 

Question from Kieren
Tossing up between moving into one of my rental properties as I have been renting the last twelve months after selling my last home ($1 saved is better than a dollar earned at the minute). Do you think this is a good strategy to ride out this COVID storm rather than buy right now? I want our next property to be the big rock in the jar. I also want to buy acreage, what are your thoughts on samford valley in Brisbane for long term Growth?

 

Question from Jack
Getting the location right can be narrowed right down to the street but as an investor holding long term and not actually wanting to sell, is it better to try get a house on that busy street in an a grade suburb at a discount so when getting valuations and comparable sales in the future it will work in your favour?

 

Question from Matt
Thoughts on buying defence housing Australia projects? I wouldn’t buy new as I understand you’re buying the developers margins but would you buy as the second or third owner once the market has caught up?

Are there any downsides to permanent long term leases. I believe you’re locked in with their real estate agent that’s a much higher management fee (around 16%) but they cover any minor repairs and at the end of the defence lease they refresh the house up to ‘new’ standards.- new carpet, fresh paint ect

 

Question from Damien
Could Bryce and Ben talk about active investing fixer upperers, buying to subdivide and build units, and buying 2 bed-1 bath period/character homes to turn into 4 bed-2bath homes

 

Question from Jarryd
I bought ‘house & land’ 3 years ago before I was educated. What can I do now to ensure growth?

 

Question from Matt
Is putting a granny flat out the back a good idea when retiring out the debt? Pros and cons?

 

 

 

 

 

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