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Episode 238 | Money & Mental Health: Why there’s more to it than you think… Chat with John Mendoza Director of ConNetica

Folks, you’ve heard us say it before and we’ll say it again… “The State of Your Wallet affects the State of Your Mind”

… and this isn’t just a telling quote we throw around willy-nilly… it’s very real and is, in fact, evidence-backed. The truth is this… money worries and mental health are DEEPLY entwined. If you’ve got financial stress then, chances are, you probably feel like your whole life is out of whack… and this can seriously interfere with your mood, mindset and overall health!

So today we’ve managed to rope in a very special expert who’s dedicated his professional life to mental health matters and suicide prevention — John Mendoza Director of ConNetica.

As well as shining a light on the connection between financial problems and mental health issues, John’s career has included several senior executive positions, such as the inaugural Chair of the Australian Government’s National Advisory Council on Mental Health, the CEO of the Mental Health Council of Australia and CEO of The Commonwealth Statutory Authority, the Australian Sports Drug Agency.

Folks, if you’re wondering, “Why the switch to mental health?” or “Where does property investing fit in here?” or “Why so serious?”…

We’ll be completely honest… while not related at a tactical level to property, finance and money management… this IS related at a strategic level — ‘cos

no matter if you’re building wealth, or just trying to stay afloat and living paycheck to paycheck, or drowning in debt… or anywhere else on the financial spectrum… you’re NOT immune to this reality (unless, of course, you’re a… dunno… a cucumber, or something else non-human).

Oh, and folks… another quote for you… “The Most Important Asset is The Investor Themselves” 😉

Here’s the Free Resources mentioned in today’s episode…

Episode’s Top Teachings…

  • How’d this convo come up on the Twittersphere in the first place?
  • The relationship between mental health, suicide and money management
  • What age is most affected by suicide? How can you prevent it?
  • What’s the strongest factor that protects people in this space?
  • The “B Grade Movie”… and how it’s influencing your mental health
  • Who’s most at risk with mental health problems?
  • What about perfectionists? (aka Bryce… back in the day)
  • What’s the solution here?
  • The “ABC” Steps to Good Mental Health
  • What should Financial Planners and Advisors assess?
  • How can you help someone who isn’t coping?

P.S. If you’re struggling with your finances or you want to be better with your money, please make sure you check our Free Money S.M.A.R.T.S Platform

Episode 237 | Q&A: Barefoot Investor or Money Smarts – What’s the difference, Loan Structure for Rentvestors, Pros & Cons of Buying a Company Title Property and more!

Folks, we’ve got your voicemail messages… and, yep, today we’re giving you our reply!

‘Cos it’s out favourite day of the month… Q&A Day where we answer YOUR SpeakPipe Questions! And, we’ve gotta admit… a few of you folks have asked us about “The Elephant in The Room”… aka… a certain Barefoot Investor and how Scott Pape’s money management differs from our Money SMARTS system. Oh, and of course, there’s also some contrasting views on property as a long term investment as well… which, as you likely know, is something we’re pretty keen on…

So let’s tackle the answer, shall we??

Before we get into your questions, here’s the resources mentioned today…

Question from David on the Barefoot Investor…

Hey guys, Dave here. Today I wanted to talk about the Elephant in The Room… or at least the bear in the room. I have just finished listening to the Barefoot Investor audiobook — and it’s safe to say I’m am a little bit confused. While Scott’s money management method seems to align with yourselves, “Mojo” and “Fire Extinguishers” are a far cry from Money SMARTS. And then came a bomb shell… “Property Investing is a Dud Investment” and, yes, as he suggested, my eye was twitching.

Scott had some pretty negative things to say about property, particularly over the long term. Mainly because the last 24 years has been an economic outlie, given the negative gearing benefits and large pop growth due to baby boomers, suggesting that “doubling in 7 – 10 years” rule, which of course is a rule of thumb, over the next 40 years would be near-on impossible. Then he counteracted his whole argument with compelling evidence of strong long term growth in bonds, shares and index funds. Now, don’t get me wrong, I took some really good nuggets out of his book, but the differences between your method and his are STARKLY different. I mean, he doesn’t even suggest putting money in offsets. Can you please help me decipher this book? Thanks guys, love your work.

Question from Shane on buying a unit in a company trust…

Hi guys, my name’s Shane. Am just wondering about buying a unit in Sydney under a company title. Could you please explain any pros and cons for this type of unit. I’m looking to rent it out for 5 years then move into it myself and keep it for the long term. I appreciate any advice you can give my and thanks very much! Bye.

Question from Aaron on Bank Structure as a Rentvestor…

Hi Ben and Bryce, my name’s Aron, absolutely love your podcast. I binge-listened to 220-odd episodes in 3 months when I first found out about it. I just have a question here in regards to structuring your bank accounts. We rentvest. I understand if it’s a PPOR, you’d want all income coming in to that offset account, but because we rentvest, do you have just one bank account where all the rent and all the mortgages come out from, or do you have a separate bank account for each property, where the rent and subsequent mortgage comes out of, didn’t manage to hear anything about structural bank accts in any of the podcasts, so apologies if I’ve missed it and you have discussed it. But I don’t think I’ve heard anything about it so very interested to hear your response on that, especially if you do end up having 5/10 properties. Look forward to hearing it on the podcast at some stage. You guys are absolute legends! Cheers.

Question from Craig on selling a property at a loss or wait to recoup loses…

Good afternoon The Property Couch, my name’s Craig and I have a question. My partner and I currently own 3 investment properties between us. 2 of these properties are performing quite well, in terms of growth and low upkeep. The third investment property in Darwin was originally bought as a PPOR and is not performing well as an IP. The market is at the 32% downturn and is unlikely to recover any time soon. My question is… Should we sell the property at a loss and still walk away with about $30,000 to reinvest into a new or existing investment, OR should we hang onto this investment long term with the intent of recuperating our losses, even though this property costs us about $8K a year? Thank you for your time.

Episode 236 | Revealed: Why Off The Plan Properties Almost Derailed a Property Portfolio

Want to hear from a guest listener who was Snagged by Spruikers and Bought Off The Plan? ….. AND STILL somehow managed to turn their property portfolio around??

Yep, it’s an Epic story, folks! And today’s guest, Danson Kwok, sure has HEAPS of tips & tricks — incl. how to maintain a solid mindset even through dark times — to share with you!!

‘Cos his substantial multi-million dollar property portfolio has now been tweaked and steered back on track through the sale of certain properties and learning the true art of manufacturing equity!!!

So. What triggered all this? AND how did Danson and his wife maintain their belief in property to get to where they are today?

… Let’s find out!!

 

Oh, and folks….. we’ve got a bit of “backstage” info to share with you…

We’re filming our FIRST EVER ONLINE COURSE!!! And we wanna invite you to come along live and watch it for free!

Here’s the deal, right… We get that everyone’s at different stages of their journey. Some of you folks are cool just to get your info from the podcast each week (which we LOVE!)… and some of you are itching to get your hands on more valuable content… BUT… for whatever reason…you’re simply not in a position to seek advice OR maybe you want to have a crack at doing it yourself (DIY Style)!! SO we’re creating a 6+hour online course consisting of OUR ABSOLUTE BEST GOLD… which we’ll later sell for a few hundred bucks for the folks who want that Next-level knowledge!

But… ‘cos you’re already in our tribe, we want to let you access it for FREE… one-time while we’re live…!!

FREE LIVE ONLINE COURSE: Everything You Need to Know to Earn $2,000+ Per Week in Passive Income

CLICK HERE FOR THE AGENDA: What we’re teaching on each day – Weds 19th, Thurs 20th. Fri 21st @ 1PM -3PM

And here’s the list of resources mentioned today!

 

… Back to today’s show!!! What are you in for??

  • How did they begin their investing journey?
  • How did he get his advice when he was living in Singapore and investing in Australia and New Zealand?
  • How is Singapore real estate different?
  • What were the types of properties that DIDN’T go well??
  • How many Off the Plan purchases had Danson and his wife purchased?
  • What was that first property?
  • Did they come with a rental guarantee? Why?
  • How do these Spruiker expos work? How much was their commission?
  • When did he find out his off the plan properties were duds?
  • What was the reality of Off the Plan pain?
  • Did these properties cause problems with bank valuations?
  • How did he get his finance when he was overseas??
  • How do offshore banks work?
  • How many properties did they keep in their portfolio once they moved to Australia?
  • How did he continue to take action even though he made mistakes?
  • Is he still buying properties?
  • How’d he ride the credit crunch?
  • How can you manufacture equity?
  • What are the 5 ways to manufacture equity? Who is it for?
  • Is renovation like any of the Reality TV shows?
  • What was his journey with subdivision like?
  • Is there a Rule of Thumb for strata properties?
  • How much does it cost to turn one lot into 2 lots?
  • What should you keep in mind with subdivisions?
  • What happened when they were on the end of a fake invoice?
  • How much was at stake? Did they get their money back?
  • Final words of advice!

Make sure you tune in today!

Don’t forget… if you’re interested to get a copy of Effie’s book, we’ve got TWO copies to giveaway!! Just tell us your #1 Money Hack on Facebook for your chance to win!

PLUS we’ve been doing a couple of LIVE this week! The feedback had been pretty good so so if you haven’t noticed it on Facebook yet, here’s the replay.

And….. If you’re interested in our TPC LIVE 2019 – 3 Day event, check it out here!

Episode 234 | Have We Bottomed Out Sooner Than We Thought? The Exclusive Data Insights from Louis Christopher from SQM Research

Well, well, well…. Have we hit the bottom of the market folks???

In the shadows of the election — aka the Coalition’s surprise victory — it appears that confidence has returned to the property market!

And now the crystal ball question — “When’s the bottom of the property market happening?”may not be as cryptic (or as distant from us!!) as we first thought!

So. What do we mean by this?

Well, let’s put it another way… We jumped on a plane last week especially to bring you back the insights from today’s guest!!! And you just might recognise him —Louis Christopher the Director of SQM Research and one of Australia’s most respected and impartial Research Property Analysts. He has extensive knowledge and experience of property and is regular quoted in the media on his insights!

And he’s NOT afraid to tell it like it is.

So… what’s his latest data suggesting?

Before you meet the man behind the media and get to hear his forecasts, we just want to remind you that, yes, even though PICA likely had a bit of an impact on the election results, our work on behalf of all Australian property investors is by no means done.

And as Ben talks about in today’s show —- there’s obvious MUCH more PICA’s aiming to achieve, so if you’d like to become a member for as little as $5, please Become a Member Today.

Is something stopping you from joining PICA? Let Ben know here.

Here’s what we discuss in today’s episode:

  • What happened with Louis’s grandma that made him interested in property?
  • What’d he do to make his tenants pay rent on time? (Warning: not for everyone!)
  • What used to happen in the data space?
  • Why was there controversy starting SQM?
  • What data was he desperate to get his hands on? How’d they get it?
  • What does SQM stand for?
  • What else do they measure aside from property data?
  • How do they pick the turning point of the market place?
  • How often do they “get it right”?
  • Are the observations coming out from the election revealing a trend?
  • What does he see happening in the next 2 – 4 years?
  • And what had he modelled if Liberal was re-elected?
  • How has the uncertainty of the market been lifted?
  • How will APRA’s recent changes affect the property market?
  • Will the RBA cut their rate by MORE than 25 basis points next month?
  • What are the issues with Auction Clearance Rates?
  • Can they forecast for Capital Growth?
  • What do they use at a locality level vs the macro level?
  • How does he measure fair market value?
  • Is it a good idea to have a market that’s totally dependent on housing?
  • Is the Australian economy looking up?
  • Why’s it hard to create inflation if there is so much debt?
  • What happened to rents and construction levels in 1985?
  • What makes for a good economy?
  • The First Home Buyers Deposit Scheme: Will it have a material or immaterial impact on the property market?
  • What do we think of the NRAS scheme?
  • Is it time to invest in Perth??
  • Does a rental market predict that capital growth will likely happen?

AND THE BIGGIE…

  • When’s the bottom of the market likely going to happen?

Episode 233 | Is it Tick, Tick… Boom? Post Election & Off the Plan Pain with Angie Zigomanis from BIS Oxford Economics

Well, folks — Australia’s officially had their say after Saturday’s voting spree… and The Coalition are holding tight on their power for another term! Which surprised a lot of us. BUT there is a silver lining…

… Negative Gearing has survived another day!!

Which basically means… NO dumb policy is about to cripple the property market any time soon!!

But the question remains… what are we in for now??

Joining us today is Angie Zigomanis, Senior Manager at BIS Oxford Economics and he’s got his binoculars pointing to the horizon… because the data he’s been scrutinising is exposing a LOT about what we’re about the see unfold in the property market!

The big picture??

Off the Plan properties…. !!!

Resources mentioned in today’s show:

Oh, and if you’re around tonight folks, tune in to Escape From the CityBryce is on ABC TV TONIGHT at 8:00PM!

Here’s what you’re in for…

  • Our election stories: how’d we get the news?
  • Where does BIS Oxford Economics sit in the economic arena?
  • And how many different countries do they analyse?
  • What did they discover about negative gearing changes prior to the election?
  • What happened to the stock market AFTER the election?
  • What’s likely to happen with business confidence as a result?
  • How is the First Home Buyers Deposit going to affect the property market?
  • What’s happening with construction?
  • Will we start to see economic growth?
  • How likely is it that the RBA is going to DROP their cash rate next month?
  • What did Governor Phillip Lowe state in his press conference on Tuesday?
  • What have APRA done with their assessment rate?
  • What’s the latest with the US/China Trade Talks?
  • How might the Australian economy be affected by this?
  • PERILS OF OFF THE PLAN: What is the data revealing about Off the Plan Properties?
  • In Melbourne alone, how many were sold at a loss?
  • Who is most likely to be the second buyer of Off the Plan properties?
  • What may happen to developments in future?

Is affordability a real issue?

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