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TPC Gold | How to Build a Solid Wealth Plan

Today’s bonus snippet is from a previous episode on the 6 Critical Foundations Your Wealth Plan Should Be Built On. 

In this TPC Gold soundbite, Bryce & Ben discuss two of the non-negotiables when building your property portfolio and why it’s so important to get the foundations right! 

Take any iconic building you can think of as an example – whether that’s the Sydney Opera House or the Burj Khalifa. 

Chances are not many were going around taking photos of these structures when they were incomplete…but it was this phase that was absolutely the most important. Building the foundations – whilst not glamorous, is what ensures the buildings are the masterpieces they are today. 

When you have your foundations right, you can account for external movements and be as prepared as you can be for whatever comes your way! 

Tune in to the full episode here: Episode 101 | Sand or Stone – 6 Critical Foundations Your Wealth Plan Should Be Built On 

 

Free Stuff 

 

Episodes You May Like

 

465 | How This Family Can Afford their Year-Long Holiday While Building Their Portfolio

 

We’ve always said that property investing is a process not an event but…

How does one successfully match this process with ongoing family, life AND travel goals to achieve it all?!? 🏡🌟 

Folks, in today’s episode, we’re revealing how it’s possible through two real-life case studies!   

In our first case study, “Scratching the Itch”, we’re exploring how a young family who is looking to spend a memorable year travelling with their young ones can achieve this while continuing to work towards buying their forever home.  

 In the next case study, “Older Demographics Need Help Too!”, we chart the path that Linda, a 54-year-old Zookeeper can take to achieve her dream retirement without sacrificing her current lifestyle.  

We’ll be deep-diving into the problems and life-changing epiphanies each of these brave investors have had, along with the exact steps and plans we created to help each of them achieve it all.  

From the power of prioritisation to seeing what is possible, we’re highlighting the many advantages of seeking professional advice.  A seriously motivational and practical episode for all, give it a listen now!  

 

Free Stuff Mentioned

  • Scratch your itch! Make the invisible visible and understand your priorities by getting professional advice. Book a free no-obligation with our award-winning team here >> 
  • Sign up for PICA’s newest webinar with Nicola McDougall here >>   

 

Heres some of the gold we cover 

  • 0:00 – How This Family Can Afford their Year-Long Holiday While Building Their Portfolio   
  • 2:34 – PICA is having a new exciting webinar!  
  • 3:23 REVEALED: Our newest Case Study Series launch! 
  • 5:53 – Giveaways 🤗   
  • 9:24 – Calling all potential Summer Series Guests! Share your story here… 
  • 11:44 – Mindset Minute: Never be so foolish as to believe… 
  • 17:35 – Case Study #1: Scratching the Itch 
  • 19:16 – The scary external AND internal problems they were facing… 
  • 23:18 – It’s always better to trade on paper folks!  
  • 26:35 The Lifechanging Epiphanies + Plan 
  • 27:42 – THIS is how they took action!   
  • 34:47 – It’s all about understanding the trade-offs & priorities! 
  • 35:56 – The 2 Fundamental Levers  
  • 40:11 The end result: The achievement + transformation 😊  
  • 44:24 – Case Study #2: Older demographics need help too! 
  • 45:58 – The fears this Zookeeper was facing…  
  • 49:49 – What drove her to act?  
  • 50:32 – The 3 very different solutions she was presented!  
  • 52:35 One of the most important things to remember… 
  • 54:18 – Other factors we considered 😮  
  • 55:26 – The Winning Roadmap to Retirement! 
  • 57:35 – Let’s summarise…  
  • 59:20 – Folks, we’re so lucky (+ THIS is the best time to start)  
  • 1:00:37 – Scratch your itch. Have a conversation with our award-winning team >> 

And… 

  • 1:02:55 – Lifehack: How to finish ANY book!  
  • 1:04:07 – WMPN: Unexpected changes to vacancy rates and shifting markets…😮 

How To “Cheat” The Property Game: The 5-Step Framework, Money SMARTS and Meeting The Industry Players

“Cheat?” By this we mean… How to “Fast Track” The Property Game by getting the PROVEN method from the get-go.

In all honesty… if you’re looking to “rig” the system, or are chasing a “Get Rich Quick” scheme, then you’re likely not going to succeed in property investing… especially over the long term!

That said, there IS a simple 5-Step framework to follow that will make your property investing experience a whole lot easier and much more fruitful… which, of course, we’re unpacking in today’s episode! Plus, we’re diving deep into our famous Money SMARTS system – it’s a no B.S. money management system that will keep you ahead of the game by trapping more surplus cash in only 10 minutes a month (yes, really!… this system is currently transforming more than 15,000 everyday folks’ bank account as we speak!).

On top of that, we’re also walking you through the Industry Players – that is, the major players in the property industry who provide advice. Warning: Not all of these individuals can be trusted, so it’s vital you know what professionals to use and which “Property Spruikers” to avoid at ALL costs!

Listen now to get our proven 5-Step Framework, our simple money management system designed to trap more surplus cash AND meet all the industry players!

Don’t forget, to get further insights and “play along at home” by picking up a FREE physical copy of our book here: http://www.thearmchairguide.com.au/

 

Here’s a bit of what we cover in today’s episode…

  • The Five Steps to Property Investing – The “Yellow Brick Road” to Financial Peace
  • Money SMARTS: The Simple Money Management System That Traps More Surplus in Less Than 10 Minutes A Month
  • Free vs. Free: Who Should Property Investors Take Their Advice From?
  • Who is really on the side of the property buyer?
  • What is a Buyers Agent and do you need one?
  • How to spot a property spruiker
  • Where should ALL of your income go?
  • Why is an Offset Account so powerful?
  • When should you use a credit card?

 

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Episodes from The Property Couch to Further Support You…

 

 

 

432 | Another Tax Grab…What 62.5%?!?!

It’s sad but true, we’re back with yet ANOTHER tax grab (It feels like just yesterday that we were waving goodbye to Queensland’s diabolical land tax…) and this time…

We’re talking about a tax that’s set to take 62.5% of your earnings!!! 🤯🏃

Folks, we’re covering everything you need to know about Windfall Gains Tax – what it is, where it came from (according to Ben 😉) and how much you can be expecting to pay. 

(Oh, did we mention you only have 30 DAYS to pay?!)  

Yep. Welcome back to our first Q&A session for 2023 where we’re tackling this shocking tax grab, along with a line-up of fantastic questions like… 

👉 Should I renovate and rent now or rent then renovate later?!

👉 Why buy Established over new housing?! (How much do you really benefit?)

👉 And if diversification is the key to growth, should one expand their investments beyond property?!  

 Another jam-packed episode that sees Ben more fired up than ever (and not just because he gets called Benjy 😉). Tune in now!  

 

P.S. For any of those folks who have been using our Moorr platform and gained value from it, we would appreciate it from the bottom of our hearts if you could leave us a 5-star review on Apple or Google Play! This helps us to reach and help more people take control of their money on their path to financial freedom.  

 

Questions We Answer

Question from Kristy on Rent and Renovate – Now or Later?  

Hello to The Property Couch and all listeners. 

My question relates to an investment property I have in Geelong. It’s a 1980’s property in original condition on a very large block and it’s planned to be a long term hold. 

I’m trying to examine two strategies. The first being just simply rent out and renovate it when it’s time to sell maybe in 20 years versus renovate now and rent it out.Where would we be in 20 years?  

With the first strategy, the property would be very rundown by then. With the second strategy the property would likely need another renovation. Of course, I’m trying to be smart with the numbers to see where we might end up. Which strategy would produce more capital growth? Any thoughts or suggestions with how I might evaluate this? Many thanks and can’t wait to hear back from you. 

 

Question from Wayne on New Housing vs Established 

G’day boys. 

Wayne here from Brisbane. I wanna ask a question here. I’m a little worried that the quality of the information or my voice might be tainted let me start off we go the pies. 

So I’ve been listening to your podcast for quite some time now. I’ve circled to most of the episodes. One of the questions I have is around the established properties versus obviously the house and land packages and so on. 

I get that there’s a whole issue with the supply and demand in newer states and all that sort of stuff. I guess where the confusion for me comes is generally the properties will experience growth because the phases and stages of new developments obviously the land gets more expensive I don’t think it ever gets cheaper so that would kind of dictate that you’re actually going to get some capital growth even in the early stages and if you buy it for long term, 20 or 30 years then obviously at some point these newer states are going to become the established estates as they open up more land etc. 

So obviously the savings that happen in terms of stamp duty being paid on new purchases if you’re only paying it on the land is significant savings there. The non-cash deductions on new properties obviously there’s significant rebates and sort of stuff there from a tax perspective. 

So just wondering why it’s kind of not the accepted way to go?  

I’m not disputing what you guys teach, obviously, you’ve been doing this a couple lot longer than I have but I just I just wonder if you can explain am I missing something? Or you know my reading it right and and just you know it’s one of the options that are available to us so anyway thanks for the info.

 

Question from Ned on Windfall Gains Tax 

G’day Bryce, G’day Ben.

Firstly, thanks so much for all the work you do with the property couch podcast as well as your book. I’ve really really enjoyed my time reading and listening so thanks for all the hard work that you do. It’s really valuable for all your community, no doubt.

My name is Ned, I’m 22 and I’m from Adelaide and I have a question about windfall gains tax particularly how that looks in Victorian Market. I think it could be of interest of payable who either hold currently assets in the rural sector or those looking to potentially invest in that market too so if you could explain what it is exactly, first of all and how it looks going in to the next few years.

I think a lot of people would be interested so thanks guys.I will be looking forward for your response.

 

Question from Cam on Property & Shares – Diversification 

Hi Bryce and Ben.

My name is Cam. Now I have a question for you. If diversification is really the key your growth then the key to your assets, then would you recommend considering other asset clauses such as shares or ETFs?

The reason being is obviously we all love diversification and we do not want to throw our eggs in to one basket. Obviously the great thing about property is that there is a lot of leverage that you can place in to one asset. You could control half a million dollar property in less than 20% even in some cases 5% down.

But if diversification is the key and you have the sizeable amount that you wanted to truly be diversified, with franking credits and dividends being paid, is shares and ETFs something that all people should consider? Or are shares and ETFs something that people should  consider in combination of couple of investment properties?

 

Free Stuff Mentioned… 

  • Happy 8th Birthday on The Property Couch! To celebrate we’re giving our awesome community 1-week FREE access to our Suburb Report for (Usually costs $39).
    Click here and enter the Coupon Code: TPCBIRTHDAY. Limit 5 per person.
    Note: To ensure you are not charged, please purchase a single Suburb Report x 5 times. If you add 5 Suburb Reports into one cart purchase, you will only receive a $39.00 discount. Hence purchase one report at a time please 🙂  This offer expires 9th March 2023.  
  • Learn how to make your WealthSPEED go faster! Check out Ben’s newest videos:  
  • Read the article from Ben’s “What’s Making Property News?” here >> 
  • Send us your questions!  (and if it appears on the podcast, we’ll send you a Start & Build course for FREE!) 
  • For our Moorr users, if you’ve gained value from our money management platform, we’d seriously appreciate it if you left us a 5-star review on Apple or Google Play! Help us to reach thousands of other hard-working Aussies on their property investing journey. 😊  
  • Episodes referenced:  Episode 418 | The Hidden Forces Driving Property Values 

 

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

 

Here’s some of the gold we cover… 

  • 0:00 – Welcome back & send us your Qs!  
  • 4:32 – Free Resources: Make Your WealthSPEED Go Faster, Free Suburb Report & Moorr!  
  • 12:29 – Mindset Minute: If you feel you’re in control, you’re more likely to… 
  • 16:31 – Q1) Renovate now or later?  
  • 17:30 – What Kristy should be considering…  
  • 19:13 – Ben & Bryce’s rule of thumb for renovations! 
  • 21:25 – Our thought process behind this question (+ potential benefits)   
  • 25:54 – Q2) Buying New Housing vs Established 
  • 28:20 – Why land-to-asset ratio matters! 
  • 31:19 – It boils down to THIS thinking… 
  • 34:10 – Folks, it’s about that 1 or 2%!  
  • 38:00 – Spruikers will show you this 🤨 (& where risk lives)  
  • 41:20 – Q3) Windfall Gains Tax  
  • 42:13 – Everything you need to know about Windfall Gains Tax (An extra 62.5% tax?!?!?)  
  • 45:15 – …And here’s when the thresholds kick in! (It’s not great folks)  
  • 46:50 – Let’s dive into an example… 
  • 48:25 – Who ultimately pays?  
  • 50:55 – This has been our message since Day 1!  
  • 53:08 – The hidden impacts of this tax + how to circumnavigate it  
  • 55:14 – Q4) Property & Shares – Diversification 
  • 56:56 – The best investors say this…  
  • 59:31 – Weighing up the benefits vs costs with diversification  
  • 1:02:20 – Folks, we will NEVER say this…(& the checklist we do recommend!)  
  • 1:03:26 – How to diversify your portfolio beyond property!  

And… 

 

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

 

409 | Having It All: How To Make Every Move A Winner!

Folks often believe that it isn’t possible to achieve everything they want in life.  

But what if, with the right sequencing and frameworks…

It was possible to tick off everything on your bucket list?! 

What if you could make every investment decision a “winner”, helping you to achieve your dream lifestyle? 🤯

This is what we’re uncovering today with a real case study featuring Kevin & Bernadette (Not their real names): a young couple who are planning to achieve it all:  

👉 Start a family with 2 (or 3) kids, 

👉 Continue to build an impressive property portfolio that’ll earn them an $80K passive income, and  

👉 Have a comfortable transition into retirement. 

Starting off with an investment property that isn’t faring so well but with 2 steady incomes, we uncover how – through the power of frameworks, sequencing and paper trading – they can achieve ALL their life goals. 

So how will they do it?!   

Listen now to find out! 🤸‍♀️🤸‍♀️🤸‍♀️ 

 

Free Stuff Mentioned… 

 

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

 

Here’s some of the gold we cover… 

  • 0:00 – The gold this week!  
  • 1:07 – What’s New: A homage to the Queen, PIPA’s Breakfast & the Premier of NSW is coming on the couch?!  
  • 7:57 – Something HUGE is coming!!  
  • 9:36 – The 3 Critical Things That Help With Luck  
  • 11:07 – Today’s Case Study… 
  • 13:02 – Let’s just acknowledge this… 
  • 13:19 – Where are Kevin & Bernadette in life??  
  • 16:07 – So, why did they seek help?? 
  • 18:22 – The Google Maps Analogy!  
  • 21:20 – Their Goals: Retiring, Passive Income & Their Plan!!  
  • 23:04 – What were their big-ticket items?!  
  • 24:16 – We actually recommended THIS (We never do this!)  
  • 25:18 – …and this is why we recommended it.  
  • 28:20 – Why NOW is a good time to invest or upgrade to your dream home!!  
  • 29:25 – The problem with their set-up…  
  • 31:14 – This is a classic example of the Buyers Quadrant!  
  • 31:50 – What sequence this couple should follow!  
  • 34:25 – The Third Kid: The value of stress testing your buffers! 
  • 36:05 – What are the challenges this couple is facing??  
  • 37:07 – Maternity Leave & Cash Flow!  
  • 42:42 – What to consider when thinking about having children!  
  • 45:44 – Split Loans: How to tidy up money structures!!  
  • 48:10 – What does their final plan contain?  
  • 51:06 – The Essential Frameworks  
  • 52:40 – The 4 Steps To Build A Property Portfolio  
  • 55:30 – Come join us on the couch! Be our next Summer Series Guest!  

And… 

  • 57:12 – Ever wanted to “Google” where an image is from?! Try this life hack… 
  • 58:56 – Super and Build-To-Rent – will it happen??  
  • 1:01:03 – A Downward Spiral… 
  • 1:02:14 – Auction Clearance Rates: the future not so clear?! 
  • 1:03:07 – Ben’s predictions on RBA’s Interest Rates  

 

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