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Episode 277 | Coronavirus & Property FAQ

There’s been a lot of questions coming in about the coronavirus and its implications to the property market, the finance sector and the economy at large — particularly in direct response to the higher levels of social distancing regulations we’re now seeing and its flowon effect to unemployment and how we transact property. 

Sotoday we’re answering a whole heap of Frequently Asked Questions (FAQs) about how COVID-19 affects you as a property investor, a home owner, a first home buyeror someone who’s in fortunate circumstances to take action on the opportunity. 

‘Cos, let’s be real folks… if youre dining out on the news cycleits a very scary place out there!! 

Again, we must repeat… our message of calm remains…. but we’re going to dig even deeper into what we’re starting to see as this pandemic unfolds. 

As well as answering a whole lot of your questions (all of them listed below), we’re ALSO going to give you some Frameworks and Tips to support you during this time so you’re prepared, have the RIGHT knowledge behind you and can navigate the “new world” we’re all now living through! 

We touch on it in today’s episode, but just in case you need a recap… folks are likely to fall into ONE of TWO categories during this time… 

  1. Take Action Club – This is a small percentage of folks who are ready to take action based on their individual circumstances (please seek professional advice before you do this) 
  1. Money Management” Club – The vast majority of folks will sit here and during this moment-in-time of uncertainty, should focus on the gaps in their money management 

  

Free Resources Mentioned 

Free resources: Isolate + Chill

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And here are the Questions!

Question about “Investor & Tenant Relief” from Greg: 
Any talk from the banks/government on providing relief to Investors on investment lending so as to enable them to provide relief to tenants who find themselves in financial trouble? For many owners they would have tenants they don’t want to lose and would like to assist (if required) but may not be in a position to do that themselves 

 

Question about “The Six-Month Freeze” from Jake 
Points to consider for the six-month freeze 🥶 on home loans?  Ie. how is the loan recalculated after six months? Will interest still be required to be paid during the freeze? And could this result in household having higher repayments on completion of the six-month freeze? Will it impacted your credit file? Cheers 🤙  

 

Question from about Property Prices Dropping from Nicole 
I just heard that Economists are predicting a 20% drop in house values. Would love your thoughts on this? If one is to take up the banks offer of 6months “off” from the mortgage — besides extending the loan time frame, how will it affect households and do you advise it in what circumstances? 

 
Question from about Waiting To Buy from James 
My partner and I are looking to buy in Queensland later this year. But are we better to wait until next year to buy?  

 
Question about “What the market will look like next year” from Jarrad 

What will the market look like next year? Would it be a good time to buy if I was planning to buy my first property? Could it be a good time to get a great priced asset? Thanks guys 

 

Question about Offset Account Protection from Matt 
Are offset accounts protected by the government up to 250k? Should I move funds above that to a different offset account, or should I use it to pay down principal on the loan? Would this then secure these funds in the hopefully unlikely event that a bank failed. Note that this is not a big 4 bank. 

 

Question About Accessing The 10k Out of Superannuation” from Daniel 
If we have money in an offset account, can the bank access it to reduce their exposure?
Also, not sure if you can answer, what are the new rules around accessing your super? If you’re a couple can you both access the $10k per FY? Is it means or asset tested? 

 

Question about Finding a Remote Property Investment Advisor from Aaron 
Was about to redo mortgage and borrow additional funds for deposit on 1st investment property (which we are not really sure on the process, have to talk to mortgage broker),but now that everything is closing down not sure what our next steps are. Can we find a property investment advisor completely remotely? Is it a good time for a newbie investor to try and get into the market, when our only knowledge comes from the podcast and your book? 

 

Question About What To Do If Tenants Can’t Make Rent from Rebecca 
I am a single Mum with no family support … I have two investment properties but if tenants asked for ‘free rent’ don’t they realise that the landlord might be in a similar situation to them??? That this doesn’t make sense for tenants to ask for a pause on rent when mortgage payments still need to be made. I realise that some banks have waived the repayments for 3-6 months but I am actually not with the BIG banks who are doing this (WOW – it is impressive that it IS the big banks who are offering this support – makes me wants to transfer to one of them!)… any thoughts? 

 

Question from Andrew 
 it would be great for you guys to canvass the current situation around landlords insurance and what policies will and will not cover in terms of loss of rent due to coronavirus circumstancesie .Actually getting Coronavirus and not being able to work vs being laid off because of economic difficulties. I can see this being a bit of a snake pit in terms of insurance policies and wordings associated with ‘pandemics’. 

 

Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

 

One Final Word…

And please… Just a (not so gentle) reminder. Stay at home if you don’t need to go out. Download our Isolate + Chill Pack if you want to use this self-isolation time to learn new things!

Free resources: Isolate + Chill

Fill in the form below and we'll email you all the playlist links and bonus resources right away! 😉
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Free Showbag: Isolate + Chill

As mentioned on Episode 277 (Coronavirus and Property FAQ), we know that you’ll be spending a lot of time indoors. So we want to make sure that you’ve got enough material to keep you indoors! And there’s no better time than now to reflect and upgrade yourself to the next level be it in property, finance, money management or even MINDSET! So here’s our Isolate + Chill aka Self-Isolate and Self-Develop Showbag. 🙂

Scroll down to see all the links to the playlist. If you’d like us to email it to you instead along with some additional bonus materials, then just fill the form below. 😉

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Now, let’s cut to the chase! We want to get you started on your Self Isolate and Self Develop Journey as soon as possible!

 

For iTunes Listeners

Here are the steps to import the playlist to your iTunes on your computer:

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  6. And that’s it! Your iTunes will import only one playlist at a time so you can repeat the steps if you’d like to import more than one playlist.
  7. Happy Learning!

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For YouTube Listeners

And of course, our YouTuber community! You guys get a couple of extra playlists too – The TPC GOLD and LIVE Videos! Just click here to go to our profile and pick your favorite one. 😊

Here Are All our Playlist Folks!

What’s Included in this Isolate + Chill Showbag?

Our top downloads, all in one email!

  • Make Money Simple Again (Free eBook)
  • The Binge Guide to the Foundations of Property, Finance and Money Management (Free PDF)
  • Our Top 5 Frameworks for Property Investors (Free PDF)
  • The Money Savings Hacks The Banks Don’t Want You To Know About (Free Video Series)

All these playlists and their links so you can re-visit them whenever you want!:

COVID-19 on Property, Finance and Money Management:
Across the globe, we’ve all been impacted by COVID-19… and it doesn’t look like it’s slowing any time soon…
With all of the unknows out there… what DO we know? And how is COVID-19 going to affect property prices, the economy and our purse strings? Get our recent updates here.

THE ESSENTIALS
The essentials are the absolute fundamentals of Property, Finance and Money Management! These are the FIRST 20 EPISODES of The Property Couch and are a must-listen for everyone. Check out the “Binge Guide” that covers all the best bits -go to “Free Resources”!

Money, Money, Money!
Money. It makes the world go round. But no one likes “too much month” at the end of the money… so check out our best episodes on Money Management – incl. Money SMARTS, Money Habits, Money Hacks and Money Mindsets

Let’s Talk About Finance
A property investor walks into a bank and says, “Hey, can I have a home loan?”
Just joking, don’t do that. Listen to these instead – from everything to Borrowing Power, Offset Accounts, Interest rates, Finance Structure and Strategy, Investment-Savvy Mortgage Broker and much, much more…

Finding The ‘Perfect’ Property
How do you find the perfect property? What does it look like and where is it located? Find out the top tips on asset selection, incl. investment stock vs investment grade, the reality of tax depreciation, property “spruikers”, contract reviews, building a portfolio and way more!

Mindset Matters
A wise man by the name of Jim Rohn once said, “Stand guard at the door of your mind”.When it comes to property, finance and money management matters. Why? You’re going against the tide. So invest in your mind as well as your knowledge… Hear from ….

Meet the Elite
They’ve Been There. They’ve Done It. And Now They Teach What They’ve Learnt. Hear from the professional experts who have made a living out of investing in property and know first-hand what to do (and what never to do)! Ft. Jan Somers, Paul Clitheroe, Effie Zahos, Susan Alberti, Alan Oster, Alan Kohler, Roger Montgomery, Margaret Lomas, Jeremy Sheppard, Peter Koulizos, Veronica Morgan and heaps more!

Real Life Transformations
Hear first-hand from your peers who have gone ahead and implemented what they’ve learnt on the podcast! Yes, these folks are real life investors who have featured on our Summer Series because they are
1.) Awesome 2.) Have an inspiring story 3.) Explain exactly how they did it.

Question and Answers!
This is the ENTIRE VAULT of our Q&A Episodes! Yep, folks ask. We answer. We cover a HUGE list of topics/questions so take a listen at what’s most useful for you! Don’t forget, you can always send in your own Question 😊

 

 

What are you waiting for? Start your Self-Isolation and Self-Discovery Journey today!

Free resources: Isolate + Chill

Fill in the form below and we'll email you all the playlist links and bonus resources right away! 😉
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Bonusisode: COVID-19 & Share Market Analysis

If you’ve seen the headlines recently, you would notice these:

ASX finishes worst week in more than 11 years

Dow drops more than 900 points, ending worst week since 2008

And then yesterday night, for those who’re active with the share market news, you’d probably notice this:

Dow future surge 900 points — hit ‘limit up’ — on optimism a coronavirus rescue bill is close

Japan stocks jump 7% as Fed ramps up stimulus measures

It’s not a surprise to anyone how volatile the share market is and especially so in uncertain times like this.

Shares are a fascinating investment class and people asked us about it all the time. Usually, the questions are always around Property vs. Shares and we would say, it depends on your risk appetite. There’s no right or wrong and you don’t have to choose either one. Your portfolio can be a combination of both property and share.

 

But this time, people asked us a slightly different question…

COVID-19 and Share Market.

We totally get it. Because to be honest, we’re very interested in it too. 😉

But we’re not an expert in this area and that is why, Ben recorded a chat with our Chief Investment Officer, Michael Savy on COVID-19 & his Share Market Analysis. With more than 20 years of experience in the financial planning and banking industry, he’s also a Certified Financial Planner (CFP), an SMSF Specialist Adviser (SSA) with the SMSF Association and a Fellow of the Financial Services Institute of Australia.

So yes, he’s an expert. And we thought you might find this discussion insightful.

Enjoy the bonusisode folks!

 

Here’s What We Cover…

  • What’s really causing this unrest in the share market and what’s the trendline telling us?
  • Why should we look at China as a case study in predicting the share market response on COVID-19?
  • Do global share markets really care about a vaccine and why is Shanghai Stock Exchange showing signs of recovery already?
  • Why daily coal consumption and freight logistics had anything to do with China’s recovery?
  • How will this help in predicting the rest of the world’s market response and eventual recovery?
  • and lots more

 

You can see the Charts here…

 

Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

 

And One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

 

 

UPDATE | Monetary & Fiscal Stimulus Program – What you need to know about them

As you’re likely aware, the coronavirus has NOT slowed. In fact, the coronavirus pandemic was having deep ramifications for financial systems right around the world, until central banks stepped in.

So in his unprecedented speech late last week, Dr Philip Lowe announced an Emergency Rate Cut along with other measures effective immediately. We’ve mentioned this to you in last week’s episode on COVID-19 and Property Outlook.

As promised, this bonusisode features Ben’s update on the whole monetary and fiscal policy stimulus program… plus, he also explains what this means for the economy, property owners and for those who might be doing it tough, or could find themselves in a compromised position, during this time of uncertainty.

p.s. Make sure you don’t miss out on our COVID-19 and Share Market Analysis Bonusisode as well!

 

Here’s What We Cover…

  • COVID-19 and Finance Update
  • RBA Rate Cut
  • Governer’s Philip Lowe underlying message
  • The Five Key Measures mentioned in his speech last week
  • What’s a repayment holiday and how can that help you
  • and lots more

 

Additional Helpful Resources on COVID-19

National Update: Click here

State Update:

 

One Final Word…

If you’re worried about your finances or if you have no clarity on your cash flow position, we strongly recommend you to organise your finances now. It’s more important than ever to have a clear view, down to the exact cent, on how much you’re spending each month and how much surplus you’ve got. If you don’t know it, then log in to your Money SMARTS Platform here and update the numbers.

Don’t have an account yet? Create your free access below and we’ll also send you an e-copy of the instruction manual which is also our best-seller book, Make Money Simple Again. Just fill in the form below and we’ll email it to you right away.

 

 

 

 

 

Episode 276 | COVID-19 & Property Outlook

There’s no doubt that every one of us is impacted by COVID-19 — the coronavirus pandemic — that’s practically everywhere right now.

It’s on the news. It’s in our countries. It’s fuelling a lot of anxiety and panic across the globe…

So, today’s episode is all about navigating the uncertainty of COVID-19 and lifting our eyes so we can see the bigger picture BEYOND the short-term contagion — and the social contagion — that’s currently going on.

Our message remains the same as our first episode on the coronavirus — to spread calm and connection right now….

But A LOT has changed in a week… and so we also have another (kinda really exciting!) message for you…

If you’re cashflows allow and your job security is there… NOW just might be one of the best times to act!

Now, we’re by no means belittling what’s going on here…. We get the severity of the coronavirus event and we understand there are folks out there that are doing it tough right now. And our hearts go out to them and their families.

However, it’s our job to turn to the data and face the facts so we can give you a realistic look at the property market.

Because here’s the deal… the anxiety and panic we’re seeing in our supermarkets is NOT what we’re seeing on the grounds in the property market!

To highlight this, we’re doing something we’ve never done on the show before… we’re giving you a behind-the-scenes look into our “Inner Sanctum” — that is, the most-recent meeting with our team of Buyers Agents who are currently out there buying investment properties. So you get to be a “fly on the wall” as they explain what they’re witnessing in the property market… and WHY.

 

Because, yes… there IS a lot of outside contagion going on. The economy IS being affected at this time. There IS uncertainty and fear going on. And we’ve never really seen something like what we’re witnessing right now. But there’s a VERY positive news story here for a handful of folk who are planned, informed and ready to act… an opportunity that, well, doesn’t come around too often

 

 

Free Resources Mentioned

 

 

Here’s What We Cover…

  • COVID-19 and Property Update
  • Dr Jud Brewer’s Three Steps
  • What is “The Media Cycle”— and how is this contributing to the social contagion going on?
  • How will the coronavirus affect the economy?
  • What’s Australia’s Super Power?
  • Are they going to cut the rates TODAY?
  • Bernard Salt on The Big Shift
  • What’s likely to happen in the property market in the ‘20s?
  • What’s the government doing to assist with the coronavirus event?
  • What will the banks do if you struggle to make your mortgage repayments during this time?
  • Why don’t we see high volatility in property?
  • The Endowment Effect
  • “The Inner Sanctum” – Behind the scenes with our Buyers Agents (exclusive recording)
  • Who is likely to have job security right now?
  • Who should NOT act now?
  • Why is NOW one of the best times EVER to invest in property?

 

 

 

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