X

TPC Gold | Buying Off the Plan? What to Know Before You Sign

This snippet is from one of our previous episodes: Is Now The Right Time to Buy a High Rise Apartment? 

Buying off the plan can seem like an exciting—and convenient—way to secure your next investment property… but is it as safe as it sounds? 

In this TPC Gold snippet, Bryce and Ben unpack what every investor really needs to know before signing on the dotted line for off the plan apartments. 

Because while not all developments are dodgy, the risks are very real—and the consequences can be financially devastating. 

In this episode, you’ll learn: 

  • Why not all off the plan apartments are equal (and what separates the good from the risky) 
  • The key questions to ask about developers, builders, and architects 
  • Why company structures matter (and how they’re used to dodge accountability) 
  • The hidden costs of ownership—like inflated body corporate fees and low sinking funds 
  • How to push for buyer protections like price guarantees and valuation clauses 

The result? A better understanding of what makes for a sound off the plan investment—and what to avoid at all costs. 

Want to Protect Your Next Purchase?

Before you sign anything, do your homework.  

Better yet, let us help. Our team at Empower Wealth offers qualified property planning and buyer’s agent services to help you avoid common traps and invest with confidence. 

__________________

If You Enjoyed TPC Gold | Buying Off the Plan? What to Know Before You Sign, You Might Also Like:


Transcript

Bryce Holdaway 
Here’s some of the research that people need to be thinking about if they do want to buy some of these buildings. Because I think the important point to consider here… you talked about it (and) you touched on it already, not all buildings are rubbish.  

Ben Kingsley
No, the vast majority are fine. 

Bryce Holdaway
That’s right. So we’re talking about the outliers, but it’s a confidence issue with these outliers that are coming up. But a couple of things… When you are wanting to buy something like this, you’ve got to investigate the design and the documentation. So the best thing to do is find out who is actually going to build this particular property and not only that, have they got a track record? And have they done anything before and has it stood the test of time? Because the basics of business are that two entities can make decisions; a human being can make a decision. A trust can’t make a decision, but a company can. But what that does is it affords them legal protections that you need to be aware of. Don’t be naive to that. So if you are buying from a company that has a solo company that doesn’t have any trading history and they’ve got a history of jumping… just be aware that there’s very little protection if something happens. You talked about it before. So make sure you know who you’re dealing with and go and have a look at some of the projects they’ve done in the past, and maybe just have a chat to some of the people that have been involved in some of the projects in the past because they should be prepared to tell you.  

Ben Kingsley
I agree, Bryce. I mean, the thing for me is like, if I was looking at it, normally if it’s off the plan, they’re going to say “architecturally designed by X”. Right. Well, what’s the first thing I’m going to do? I’m going to go to that architecture (firm). I’m going to go to their website and it should have a series of all of the projects and developments that they’ve done, that they’ve been involved in, some of the awards that they’ve won. If I don’t have any of that and it’s a Legoland building, then I mean, you know what we feel about those buildings. They are shocking investments. They are terrible. It is just mass-produced rubbish. So if you’re ever going to be looking at what makes for a building that could get capital growth… If the architect’s an award-winning architect and it’s quite unique.  

Bryce Holdaway
It needs some uniqueness about it. 

Ben Kingsley
Yup, owner-occupier appeal built all around that.  

Bryce Holdaway
Because we get people writing to us and say, you guys are so anti off-the-plan. Well, because 99% of it we are. And we are the first to admit there are some exceptions. Absolutely there are some exceptions.  

Ben Kingsley
So the developer can sometimes be a public company. How are they going? How are their profits? Are they building in that company name or have they set up a silo company in the event of issues? Now we have seen Canberra has also been experiencing some fast builds for profit and the challenge with those guys… one of them made good. So it was a national company and it was an eight-million-dollar remediation work that needed to be done. So the challenge with that was they came good. So that’s what you want. Like, all right, we’ve made a mistake here. Our builders have done it or whatever. That’s the big bit. So remember… you get the architecture, the plans and you look at the builder and you look at the developer. Have they got a proven track record? Is everyone happy with that? You get through that stage and that’s the first thing.  

Bryce Holdaway
The second thing, Ben, is to realise that after you’ve moved in… everything’s shiny, the carpet smells great, the taps are looking awesome (but) what are the ongoing costs to live in these properties? Because you can have a fully paid off apartment Ben, and be paying costs that still make you feel like you’ve got a mortgage. Because one of the things as an investor, I always say to people that if you’re buying something that has got a body corporate involved (whether it’s a townhouse or whether it’s an apartment or whatever), always look for the rent return after body corporate spend so that you get some parity of comparison.  Because you might have something in the same street around the same price getting the same rent, but the rental yield back to you can be really significantly different because one has got an exorbitant body corporate or on the positive side you might have one of the body corporates that are actually being proactive (and) they’ve thought 10 years in advance. They’ve actually got a capital works program and they’ve put it in place so that they start to build up some of that sinking fund so that they don’t have to go back to the owners later and say: oh look, we need to do some maintenance on the building. So there’s this balancing act too because what happens is if I’m an owner and I’ve been contributing to that sinking fund, as soon as I sell it I’ve got no access to that, it’s an asset of the building. It’s not an asset to you even though you’ve been contributing to it. 

Ben Kingsley
Correct. 

Bryce Holdaway
So it’s a delicate act of making sure you get the optimum there.  

Ben Kingsley
Mate, well summarized. The next one we want to look at is in terms of the guarantees, right? So you mentioned it earlier around what’s involved in that process. And I think it’s when I’m sitting down and if I’m thinking I’m going to buy something off the plan… it’s like what insurance policy are you going to give me? What is the builder’s warranty? Are the developers willing to give me more confidence around that? I’d even be arguing in these current times, you could potentially even get a guarantee in your negotiations for buying… price guarantee. So in other words, if I buy this today and it doesn’t stack up in terms of a bank valuation in 18 months’ time, will I be able to void my contract? If they are supremely confident, then they should do that right? I’ve been advocating that for a long time. I don’t like the idea that someone pays $680,000 for an apartment and then at completion it values up at $600,000. There’s $80,000 in paper losses. I don’t think that’s fair and reasonable. And the buyer at the moment is in a position of strength. There’s a lot of supply of apartments out there. If you want to win my business, then ultimately you know, these are the types of negotiations that we can do. 

 

538 | Property Spruikers 2.0: The Latest Tactics Designed to Trap You

“History doesn’t repeat itself—people repeat history.”  

Folks, today’s episode is on an issue that’s very close to our hearts and remains just as crucial today as when we started the podcast ten years ago… 

The alarming rise of the new-age Property Spruikers. 

We’re talking about the same tricks but in a new disguise designed to serve one purpose: their own interests at the expense of aspiring Australians. 😮   

Today we’re exposing the updated playbook of today’s spruikers, highlighting the deceptive strategies you need to be wary of.


Here’s what we cover…

⚠️ Rapid mortgage payoff schemes, like the “debt-free in 7 years” illusion 

⚠️ Overloading investors with multiple off-the-plan properties 

⚠️ Reckless “risk-free” promotion of supercharging your Self-Managed Super Funds (SMSF)  

⚠️ Emotional manipulation through high-pressure webinars and seminars

⚠️ Huge advertising budgets of $100K–$220K a week driving aggressive marketing campaigns

⚠️ PLUS, we reveal real case studies of spruikers who’ve been caught, unpacking the tactics these operators use, and the sad consequences for investors who fall prey to them

This is our updated, essential consumer awareness episode, aimed to give ALL investors (and to-be investors) the knowledge and tools to avoid being burnt by “$10 haircuts.”  

P.S. We also answer the crucial question: “If you’re already wealthy, why continue working?” and explain our motivations for starting—and continuing—The Property Couch podcast and Empower Wealth, our advisory business.  


Free Stuff  

FREE LIVE WEBINAR: How to Build a Property Portfolio and Retire on $3K per Week (Even in a Changing Interest Rate Environment)

📅 When: 7:30pm AEDT, Tuesday, 25th March

It’s our FIRST live event of 2025, folks—and with interest rates shifting, it’s the perfect time to revisit your property strategy. Join us as we reveal 3 powerful secrets to help you start living your lifestyle by design, including:

  • 🔑 Secret #1: How to build a multi-million-dollar portfolio—without impacting your family budget.
  • 🔑 Secret #2: How to retire on $3,000 per week as a passive investor, with 5 properties or less!
  • 🔑 Secret #3: How the world’s best investors think—so you can block out negative market noise.

🎁 BONUS: Everyone who registers scores a FREE copy of our guide, “Our Top 5 Frameworks for Property Investors”—your essential resource for smarter investing!

Spots are limited! Reserve yours now 👉 (IMPORTANT: You’ll receive an email to confirm your email address once you’ve registered. Make sure to complete this step to receive your unique webinar access link and registration bonus.) 

 

(Not Free) Join PICA: Australia’s independent voice run BY investors FOR investors
Become a member of the Property Investor’s Council of Australia (PICA) for just $5! This not-for-profit organisation shares essential updates, tips and resources against property spruikers, legislative changes and more with the goal of protecting property investors.

 

Articles from Ben’s “What’s Making Property News”: Corelogic’s Bellwether markets point to signs of recovery 

 

Guests & Episodes Mentioned:  

 

Timestamps  

  • 0:00 – Property Spruikers 2.0: The Latest Tactics Designed to Trap You
  • 1:28 – Full disclosure & WHY we started the podcast 10 years ago  
  • 9:51 – Free Webinar: How to Retire on $3K a Week  
  • 10:55 – Mindset Minute: Are you holding on to these leashes or are they holding on to you?
  • 14:01 – The evolve & dissolve story: “History doesn’t repeat itself—people repeat history.”  
  • 16:48 – What is a property spruiker?  
  • 19:33 – Beware this #1 spruiker myth!  
  • 20:40 – The playbook for how spruikers operate 
  • 26:31 – $100k to $220K a week on advertising budgets?!  
  • 29:19 – Strategy #1: “Buy 6, Sell 3” 
  • 35:22 – Strategy #2: “Debt-Free Illusion”  
  • 40:05 – You’re paying for your own guarantee  
  • 41:34 – Strategy #3: “Supercharged SMSF”  
  • 45:01 – Folks, SMSFs aren’t light to set up!   
  • 47:38 – Strategy #4: The “High-Pressure Webinar/Seminar Funnel” 
  • 49:15 – The ASIC process: How they try to defend the everyday investor  
  • 53:21 – “If we’re so wealthy, then WHY are we still working?”  
  • 1:00:20 – Real Case Studies: A) The Institute  
  • 1:03:42 – B) Buy a house for a buck 
  • 1:05:45 – C) The “risk-free” SMSF investments 
  • 1:08:16 – D) New social media-savvy spruikers 😮  
  • 1:10:16 – E) The “Targeting Grieving Homeowners” Scandal 
  • 1:12:58 – Final takeaway: If it sounds too good to be true, it probably is. 
  • 1:14:20 – “You pay for my independent valuer”  

And… 

  • 1:16:26 – Lifehack: Does your kid want a phone? Ask them to demonstrate these 8 things first!  
  • 1:21:46 – WMPN: Bellwether markets point to signs of recovery 

 

510 | From Dairy Farmer’s Daughter to Real Estate Empire! – Chat with Megan Rovers

What happens when you combine a passion for property, a background in law and a trailblazing drive to create a one-of-a-kind property experience in Australia’s fastest-growing corridors?  🏠📈⚖️  

The answer is Armstrong Real Estate!  

Folks, in this episode of The Property Couch, we sit down with Megan Rovers, co-founder of Armstrong Real Estate, who has built this real estate empire from the ground up since 2012.  

Tune in to hear:   

  • The business values and personal finance lessons she learned growing up as the daughter of a dairy farmer   
  • How she finished her law degree and built a flourishing business in Victoria’s largest continuous growth corridor  
  • Her unique property investing journey that has seen her flip five houses   
  • Why Geelong is where you want to invest next and so much more!   

Hear from an inspirational figure in the property industry who never saw the industry’s male-dominated “boys club” as a challenge. Listen now folks!   

 

Free Stuff Mentioned…

  • Free Property Report!  
    Our 39-page property report provides unique data into each suburb’s long-term growth, market cycle timing, and more to help you make the best decision. The best part? For our TPC community, it’s FREE. Download your free report now >>  
  • Join The Property Couch team!
    We’re on the hunt for a Marketing Content Coordinator! If you are a creative whizz in producing top-notch content (video, audio, graphics, you name it!) and want to hang out with us on the couch weekly, send us your resume!  
  • We love to educate folks!
    We’re not just passionate about providing free education on the couch; we love to help folks everywhere! If you have an event coming up and would like us to share our knowledge with your audience, contact us today!  
  • 2025 Summer Series shoutout!  
    Help us to normalise money conversations! Come on the couch, share your financial freedom journey, and help us inspire others. Send us your story now >>  

 

Timestamps

  • 0:00 – From Dairy Farmer’s Daughter to Real Estate Empire! – Chat with Megan Rovers 
  • 1:25 – Join The Property Couch team, 2025 Summer Series shoutout and Free Report Alert!  
  • 6:08 – Mindset Minute: The 2 differences between people who make their dreams come true and those who don’t. 
  • 7:55 – Welcome Megan Rovers!  
  • 8:46 – How did she create an incredible real estate empire from a background in law?  
  • 9:46 – Money Story: “If it was raining, we knew we could go on a holiday”  
  • 12:18 – What was it like growing up in a dairy farmer family?  
  • 15:24 – How did those business lessons shape her personal finances?  
  • 19:35 – The leap from law to loving real estate  
  • 22:15 – First experiences with Armstrong Creek: Buying with only 140 houses in the area?! 
  • 24:46 – The pivot from established to green field subdivisions  
  • 27:31 – From first jobs selling Off the Plan to building a real estate empire  
  • 31:48 – With no experience in real estate, how did Armstrong Real Estate flourish?  
  • 34:19 – Finishing her law degree while building an empire  
  • 39:22 – Juggling multiple hats: How did Megan navigate tough times?  
  • 41:51 – Breaking into the Boys Club: “I’ve never looked at it as a problem.”  
  • 45:15 – Building clients for life and a holistic service  
  • 49:29 – Megan’s “non-traditional” property journey: 5 houses to reach her dream home!? 
  • 54:23 – The buying demographic in Armstrong Creek  
  • 56:07 – Are interest rates impacting investors in this area?  
  • 58:44 – Why should people invest in Geelong?   

And… 

  • 1:02:36 – Thank you Megan! What a resilient and remarkable guest  
  • 1:05:14 – Lifehack: How to avoid pesky ads!   
  • 1:08:18 – WMPN: Corelogic’s September Hedonic Home Value Index 

493 | $160K Dilemma: Should I Walk Away From Paper Profits?

 

Emma’s partner has a $160K dilemma: He’s been offered a refund on an Off-The-Plan apartment that’s been delayed for two years. Should he take the refund or ride it out for a potentially higher sell price? 🤔 

Kieran faces the decision of investing in smaller units versus two individual homes. Which is the better investment decision for him, and how can he align it with his goal of helping others? 🌍   

And in Simone’s Retirement Plan: How does this single mum and schoolteacher with 5 properties reach a target of $2,000 per week for retirement? How does this stack up in today’s economy? 📈 

Folks, this is a massive Q&A Day where we link age-old questions in today’s nuanced context.  

From diving into the psychology of Loss Aversion to understanding why “C” is the hardest to achieve in our “ABCD” foundational principles, you’ll want to save this episode for future reference.  

Listen now folks! 😊  

 

P.S. Stay tuned till the end to discover how to type…without typing!?  

   

Free Stuff Mentioned

 

Timestamps

  • 0:00 – $160K Dilemma: Should I Walk Away From Paper Profits? 
  • 1:49 – Interest rates, budget release & TPC survey winners  
  • 8:01 – New Tracking Tools in Moorr! 
  • 16:34 – Mindset Minute: Just focus your eyes on the captain…” 
  • 23:38 – Q1) Get Deposit back or Wait for Growth 
  • 27:26 – Learning Experience or Loss Aversion? 😱 
  • 28:02 – How to Avoid Loss Aversion: Step-by-Step  
  • 32:55 – “A bird in hand vs two in the bush” 
  • 36:31 – Why Off-The-Plan means YOU are taking all the risk  
  • 37:12 – This refund is a red flag 🚩 
  • 43:14 – Q2) Small Complex vs 2 Individual Properties 
  • 45:00 – When passive investing stops being passive  
  • 47:37 – To help others, you need to be in THIS position 
  • 49:52 – Why houses over units? 🏘️ 
  • 53:53 – Q3) Archive Question: $2k per week in 20 years’ time 
  • 56:41 – How we calculate the $2,000 a week in retirement  
  • 57:31 – The Power of Compounding, Offset Accounts and Qs to ask 
  • 1:00:07 – Why “C” is the hardest to achieve in our ABCD foundational principles 💰 
  • 1:05:09 – Thank you to all our Question-Askers!  

And… 

  • 1:05:45 – Lifehack: How to type…without typing?! 📱 
  • 1:07:20 – WMPN:  The State of the Housing System 

446 | Property Spruikers Exposed

Get ready to be blown away by a groundbreaking episode today folks!  

In today’s essential episode, we are peeling back the layers and exposing the concealed truths lurking within the world of property spruikers. Hold on tight as we take a deep dive into this industry, shedding light on the risks that lie beneath the surface. 

Our mission is to leave no stone unturned as we navigate through the realm of property spruikers and explore their questionable tactics.

From the absence of regulation within the industry to the presence of conflicting interests, from the propagation of misleading claims to the utilisation of relentless high-pressure tactics, you don’t want to miss this episode, folks! 

This discussion is more than just eye-opening… it is a pivotal moment in your journey toward financial literacy and security.  

Don’t miss out! Tune in now or watch the episode below 🙂 

Here’s some of the gold we cover… 

  • 04:00 – Mindset Minute 
  • 10:35 – Dialling in 
  • 11:33 – What is most concerning? 
  • 14:44 – Any feedback…. STRAP IN FOLKS! 
  • 17:50 – Unveiling the tricks.. 
  • 20:40 – Where do I start? What should I buy? 
  • 22:06 – Greedy operators
  • 25:15 – What is a property spruiker? 
  • 25:50 – The murky middle??? 
  • 26:30 – Beware of deception  
  • 27:30 – The importance of reputation and trust  
  • 28:25 – Investment strategy… 
  • 29:00 – What is a sound foundation? 
  • 29:10 – What will let you down? 
  • 30:30 – Gas lift chair?  
  • 32:40 – Misleading conduct 
  • 35:30 – What methodology do they actually use? 
  • 37:18 – Red flags and warning signs 
  • 37:50 – Don’t get in the van!!! 
  • 39:40 – Why pay an entrance fee to be part of a community? 
  • 40:35 – Beware of hidden commissions  
  • 42:00 – Being open and transparent 
  • 45:30 – What are the common tactics? 
  • 50:20 – The only pressure you should feel…
  • 52:55 – How do they get paid?! 
  • 58:15 – How spruikers use angles
  • 58:50 – It’s a playground for spruikers… 
  • 1:04:50 – How to protect yourself 
  • 1:07:45 – What is the secret sauce??? 
  • 1:13:50 – Growth corridor or supply corridor?
  • 1:14:36 – Is supply the enemy of growth? 
  • 1:16:15 – What is the hack? 
  • 1:16:45 – Devil is in the detail… 
  • 1:17:45 – How are we different?? 
  • 1:19:05 – Building a moat!!! 
  • 1:24:00 – What are the tiers of advice? 
  • 1:26:10 – Some Warren Buffett gold… 
  • 1:27:25 – What is our Snickers bar? 
  • 1:28:50 – What is the #1 secret??AND…. 
  • 1:30:35 – Life Hack 
  • 1:32:10 – What’s making property news 

Want to work with Bryce & Ben’s Award-Winning Team? 

Get Moorr out of your money: Log in or create your free account via the Moorr web platform, or download the app on Apple or Android and transform the way you view and track your wealth.

 

Instagram

This error message is only visible to WordPress admins
There has been a problem with your Instagram Feed.
This error message is only visible to WordPress admins
There has been a problem with your Instagram Feed.

Free Resources

What to be notified when there are
new updates & free resources?

  • This field is for validation purposes and should be left unchanged.

×

MONEY SMARTS SYSTEM

Plus We Will Also Notify You When We Release New Episodes

We Only Send You Awesome Stuff

×

SUGGEST A GUEST!

We Only Send You Awesome Stuff

×