X

Episode 333 | Are We Property Spruikers?

Right. Let’s have the uncomfortable conversation – is The Property Couch just a platform for another couple of Spruikers to push property on you!?!

Look, we get it… this is a fair question to ask. One we recently received recently from a listener! And, who knows, maybe it might even be something weighing on the back of your mind as well.

So… Are we Property Spruikers?

Listen now, and you’ll hear our answer… we’ll leave it in your court to decide what you believe to be true.

Just a heads up – this is a Q&A episode, folks! So, while we definitely strip down to the bare bones on whether or not we are Spruikers, we’ve also got a couple of other themes in store for you…

 

 

Free Stuff Mentioned

 

The questions we answer…

Question about “Are WE Property Spruikers?” from Daniel/RIPPAA

Massive fan of your show, which leads me to my questions regarding in particular Episode 325 – How to buy on a hot property market.

Listening to your show for quite a while, I’ve found that you guys always seem to advocate for property being an effective means of investing. However, sure you’ve got to be in a point in time where that is not the case. Investing in shares & stocks, generally speaking was probably not the best idea, what about property? You guys have done episodes on warning against spruikers and so I’ve been having concerns about, “What about The Property Couch then – does it fall under that category?”

However, until you guys did this recent episode 325, which to be honest was very refreshing to hear that acknowledgement of you guys just really giving that message of warning of cautioning I should say against buying at this point in time which I really appreciate,

that message of you guys caring about the community really came through. So my question is when do you guys see, at least a minimum point in time, until which the market is gonna change and sort of calm down a bit?

 

Question about Land Tax from Bruce Adkins

Hi Bryce and Ben. My question is about land tax. After starting out with a passive ‘buy any hold’ strategy, and then moving on to some renovations. I have finally landed on a strategy 3 or 4 years ago of buying splitter blocks, knocking down the existing house, subdividing into 2 or 3 lots, and then building new homes on each lot. When I can afford to, I keep the new houses and rent them out I do. Occasionally I need to sell one or more of the houses to assist with cashflow, or to help fund the next project. All my properties are in Brisbane and surrounding areas as I feel the need to touch and feel the sites and keep an eye on construction, etc. Early in my property investing journey I did invest in a location distant from my home. After a little bit of research and a quick flight to inspect, I purchased the property and the whole experience was a disaster, made worse by not being around when things went wrong. This experience convinced me that I need to invest in my own backyard, and my current, more active investment strategy reinforces the need to invest locally.

My current portfolio is now more than a dozen properties with an unimproved land value of around $8 million, and the annual land tax bill is really starting to hurt.

Apart from investing in different States (which I will find hard to get my head around), Do you have any other strategies for minimising the land tax impact of a large and growing portfolio?

I love your podcasts and would love any ideas you have for easing the sting of land tax.

 

 

Question on Lenders Mortgage Insurance (LMI) from  Francis Rivero

Not really a question but I would like to hear your thoughts on the following:

My wife and I bought a PPR in November 2018.

  • Purchase price – $345,000
  • LVR – 90%
  • LMI – $9700

Through making extra repayments and recovering a strong valuation result yesterday ($420,000) we are now sitting at 72% LVR just 2 years later. I realise this is just the way it is but I can’t help feeling like $9700 is a huge amount of money to pay in order to protect the bank for such a short time. Fair enough if we are still 5 years off getting down below 80% but I’m sure this happens to lots of people who buy well and are diligent with their money. Like I said, no specific question but would love to get your take on this.

 

Question on Being Gazumped from Matt Rose

Hi Ben, Bryce and the great Stig. I’m looking for some advice as my wife and I have been left disillusioned by the property system while trying to buy our 2nd investment property, this time in Melbourne.

The sequence of events went like this – we put in an offer on contract and put down 5% deposit, the agent phoned to say the owner has accepted, the agent then proceeded to shop our offer around telling everyone our exact price, the agent then entered into some sort of silent blind auction and sold it to someone else last night without coming back to us on the new price even though they told everyone else our price. Is this illegal or unethical and if not, how do we as a community vote to put better rules in place to protect the consumer?

 

 

 

 

Episode 327 | Winning A HOT Property Market (Part 3) – The Step-By-Step Process!

The final part of our mini-series: “The Step-By-Step Process To Win In A HOT Property Market” has landed!

Just in case you missed it…

LAST TWO WEEKS ON THE PROPERTY COUCH..

  • Episode 326 was all about The SEARCH for the property and The DUE-DILIGENCE around the search and the finance (lending) for that property!
  • Episode 325 was about GETTING STARTED! Nailing the brief, how to get your FINANCE ready,

 

And this week is all about…..

MAKING AN IRRESISTABLE OFFER!

Doesn’t matter if it’s an offer prior to auction, post auction or even a ZOOM auction…

We’ll be sharing practical, real-life and tested tips and tactics on setting your offer limit, the tone of voice to use, replies to common agent feedback, body language and more!

And of course…. What happens after the offer gets accepted?! If you think that you’ve signed on the dotted line and that’s it, you couldn’t be more wrong.

It’s not over until the keys to the property are in your hands and you can officially walk in without being considered a “trespasser” ….

We’ll be unpacking the mistakes, the last minute paperwork, the forgotten things and the follow-ups that a diligent buyer needs to do after signing the contract because let’s face it…. You’ve done so well to secure a property, you DO NOT want to stuff up the final leg.

 

Free Stuff Mentioned…

  • (AUDIOBOOK) The Armchair Guide to Property Investing now available on Audible & other audiobook platforms! And you can also get it at a discount here.
  • Real Estate Agent Series – Listen here

 

Here’s What We Cover…

  • 9:42 – The FOUR overarching themes to be in a position of making an offer in this seller’s market
  • 10:31 – One thing that you DO NOT WANT TO COMPROMISE ON at all to get the property
  • 13:43 – In a HOT Market, you may need to make THIS decision before you even inspect the property. But are you in the right headspace to do that?
  • 15:47 – The due diligence that you can do on the property BEFORE the open day
  • 16:49 – How quick should you really go if the property is the one?
  • 18:34 – If 6 months comparables are considered “old data” in this market… how do you even set a price or work out your offer/stretch?
  • 19:05 – The three price levels that you need to know when buying a property
  • 22:10 – What questions can you ask a competing (but friendly) agent who lost that listing?
  • 23:50 – Two professionals in your A-Team that needs to be on standby before you go to an open
  • 25:00 – Critical, Important and Nice-To-Haves in a contract – Which ones are worth taking a risk for?
  • 32:13 – Offer Prior to Auction – How to get one and be ready for it?
  • 32:30 – Boardroom auction – Is it still common these days and what’s the mystery behind it?
  • 36:13 – The real boss during an auction and what role you want to play to make sure you are in their favour?
  • 37:34 – Zoom Auction – Getting the art of body language right! (Yes, even if it’s online!)
  • 40:54 – Ben’s real-life story of losing the auction but still winning the property!
  • 43:23 – Making an Informal vs Formal Offer in current market prices
  • 43:51 – Top 3 questions to ask a RE Agent during an inspection to show that you’re in the game
  • 44:50 – The NUMBER ONE question to ask yourself when it comes to setting a price..
  • 45:47 – Your script to the real estate agent >> “I’m not asking what they’re offering, of course you’re not going to disclose that to me. But ultimately what I am saying here are two things. One, if you ______”
  • 48:32 – The CONDITIONS that you should include in a seller’s market to give you an added advantage 😉
  • 50:15 – The Competitive Tension of NOT being Conservative vs Legitimate.
  • 50:50 – Having THIS productive conversation with your broker and how to explain the nature of a hot market to them
  • 52:26 – The exact questions you should ask your investment savvy broker and understanding the pros and cons of the different buying ranges
  • 54:53 – When is it alright for you to jump up the risk spectrum?
  • 56:55 – THIS is not an escape clause. Don’t dance with the devil thinking you can use it.
  • 58:09 – Tips on taking away the vendor’s pain
  • 1:00:57 – Settlement – how to make sure it does not fall over?
  • 1:00:57 – Bryce’s (or rather Adit’s) Apple Lifehack!
  • 1:08:23 – Ben’s What’s Making Property News on times when the Property Market went “crazy”

 

 

Episode 161 | How to Buy Property Like a Pro – Chat with Veronica Morgan

Want to know how to bag an A grade asset? How about scoring the inside tips Buyers Agents use? If you’re keen to buy property like a pro, today is the show for you!

That’s right, folks! We’re getting down to the nitty gritties of buying… how to nail an auction sale, how not to overspend (very important) and how to think like you’ve been in the game for decades.

Plus, we’re diving into the Sydney property market, picking up some sunken treasures so you can discover the latest, the greatest and the mistakes to avoid!

Joining us is Veronica Morgan — you might recognise her from Foxtel’s Lifestyle Channel, Location Location Location Australia in the days of co-hosting with Bryce — who is the Founder and Principal of Good Deeds Property Buyers, a property buying services specialising the Sydney market. To boot, Veronica is also a QPIA, a clever property investor and key note speaker, industry writer and a repeat guest on the Couch!

 

So, let’s get take a microscopic view of what a reputed Buyers Agent sees (and does) every single day:

 

Want to hear more from Veronica? Check out Episode 76 | Building a property portfolio after the boom!

Also, make sure you check out our Facebook Live sessions! They’re Q&A Style & only 15 minutes Folks!!

 

 

Episode 145 | 8 Reasons Why Vendors Sell Before Auction

Now… it’s Framework Time!! The last framework that we’ve unpacked was Episode 137 on Tips for Buying in Spring so we think we are a little overdue for another one.

The topic that we’ll be chatting about today doesn’t happen all the time, of course, but it does happen: Vendors sell BEFORE they go to auction.

Have you ever wondered why??

Today, we’re exploring some of the main reasons explaining an early sell in this situation. Because if you’re selling (side note: hopefully you’ve received professional advice about this), it pays to know which tactics could be lurking around the corner for you. Of course, if you’re interested in buying property, it saves to know how to negotiate a win before the bidding has had a chance to begin!

 

So, is selling before auction as clear-cut as we might think?

Yep, today we’re digging into the heart of it:

 

P.S. Folks, we’re doing Movember this month! If you would like to support the cause that helps tackle the serious issues affecting men’s health, feel free to donate here. (Bucket loads of good karma awaits you.)

P.S.S. Want more info on PICA? Head to www.pica.asn.au

 

 

Episode 071 | How To Outsmart A Real Estate Agent?

Before you go on, let’s make this very clear: We have full respect for real estate agents out there. This episode is not about highlighting the differences between us and them. Instead, what we are focusing today is the full role of a real estate agent. As insiders of the industry, we noticed that a lot of buyers out there do not seem to realise that the real estate agent is not working for them. Real estate agents work on behalf of the vendor and hence, at the end of the day, the role of the agent is to sell the vendor’s property to the highest bidder so buyers should not be expecting the real estate agent to be offering them any discounted price.

So today’s episode is about understanding the process the agents have to go through, the decisions they have to make and from there, suggest a few ways that buyers can implement to outsmart a real estate agent. Bryce and Ben will be sharing their tips on reading an agent’s body language, picking up the subtle messages, what does the property price guides actually mean and more! Tune in and let us know what you think! 🙂

 

Other resources mentioned in this episode:

  • Replay for our Facebook Live Q&A Chat – Watch here
  • Ben’s RBA Cash Rate June 2016 Announcement – Watch here

 

If you like this episode (How To Outsmart A Real Estate Agent?), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

Instagram

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

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

We Only Send You Awesome Stuff

×

SUGGEST A GUEST!

We Only Send You Awesome Stuff

×