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Episode 294 | The Secret To Triple Returns: How This Socceroos Star Changed The Projection of His Entire Future – Chat with Chris Ikonomidis

* yes, this is one of Ben’s favourite episodes EVER! *  

Have you ever been around someone who you “just know” is going to be successful? Like, really, really successful?! They talk differently. They think differently. It’s like you can see that the “thing” driving them is coming straight from the core who they are, or something… and, almost always, they aren’t afraid of going against the grain, doing things differently, right?!

Well, it can be argued (and rightfully so!) that today’s guest is already REALLY successful, especially from a career point of view…  BUT what makes this guest so impressive is something else… there’s WAY more to them that made us go, “Wow!” multiple times during this interview, actually!

Here’s the deal…

Today we are interviewing 25-year old Australian professional football player (or “soccer” player for some 😉) who plays attacking midfielder or winger for the Socceroos and Perth Glory… Chris Ikonomidis!!

Yes, that means he’s playing “The World Game” at an ELITE level… but it also means that his teammates are often cruising around in their new Lamborghinis and diamond Rolex’s when they’re not on the football pitch…

But Chris?! Nope. Chris is playing an EVEN BIGGER game. See, he’s resisting the lavish lifestyle now ‘cos he’s fully aware that his sporting career won’t last forever.

And that’s where today’s epic episode comes in…. we’re doing a LIVE Critique of Chris’s Property Plan… that is… what properties he’s invested in, what he’s thinking of  investing in (and if it’s a good idea or not) and how he’s managed to switch his mindset to stay focused on the long-term play!

This episode’s packed with wisdom ALL of us (yes, that includes us too!) can leverage from and money tips we can apply in our own lives.

Highly recommend this one, folks! Tune in now & let us know what you think!

 

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Here’s What We Cover… 

 

 

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 

  

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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!

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Fill in the form below and we'll email you all the playlist links and bonus resources right away! 😉
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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?

 

 

 

Episode 275 | 7 Grades of Financial Wellbeing – Which one are you?

Where do you sit on the ladder of financial success?

In this episode, we’re unpacking a brand-new framework that outlines the seven grades of financial wellbeing… so you can self-assess your financial health in a way you’ve never been able to do before!

Here’s the deal, folks… this is new, fresh content. There’s actually nothing out there like this. ‘Cos what we’re about to discuss is the overarching framework of ALL the frameworks we’ve ever gone through over the last five years… and, truth be told, it probably took us from then ‘til now to get really clear on what we’re about to teach today! And to say we’re super excited to share this with you is probably the understatement of the year!

So, it goes something like this…

There’s a GRADING SYSTEM where you can work out exactly where you are on the ladder of financial success… and each grade – or level – has ACTION STEPS, including a “milestone move”, that will move you either up or down this ladder. Obviously, the idea is to move UP a grade and you do this through incremental habits and mindset shifts that will lift you up through each grade… all the way to the “wow” Pinnacle! (This, by the way, is NOT Financial Peace – it’s up there, but it’s actually not the highest tip of the mountain!)

Need an image to grasp this concept? Think of the Karate belts – you start at a white belt and the “best of the best” is the black belt, right? But from white to black there’s a whole bunch of colours in between that show what grade you’re in. And so, just like these karate belts, financial success has a very similar way to reveal where you’re REALLY at. White, Yellow, Orange, Green, etc, etc… Pretty cool, right?

So, essentially, this epic framework is the Yellow Brick Road that paves the way to get to Oz. Or climb out of its opposite if you happen to be stuck in the undesirable grades.

In EACH grade (remember, there’s seven) we’re walking you through…

  • The Headline – the one liner that sums up this grade
  • The Backstory – what gets you to this grade
  • The Big Picture – the main signs of this grade
  • Action Steps – what to do to move up from this grade (and what’ll make you fall down one!)
  • The Feelings – what you’re most likely to feel when you’re here
  • The Milestone Move – the ONE THING that’ll move you up a notch 😉

So… where do you reckon’ you sit? What colour’s your karate belt on financial wellbeing?

Let’s find, out shall we?

 

Free Resources Mentioned:

 

Covered in this Ep…

 

 Last week’s Freebie

Yup, we’ve curated all the frameworks mentioned last week and threw in all the links to the episodes and videos! Just fill in the form below and we’ll email the list… and heaps more!

Free resources: Top 5 Framework

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Episode 260 | Q&A: Picking The Right Investment Strategy and Beware: Proposed Changes to QLD Residential Tenancy Act

How do you know if you’re following the right investment strategy? Like… how long are you meant to wait until you buy the next property? And how much should you look at spending? OR what about all the variables in the mix — say, you or your partner is about to take maternity leave, or your overall aim is to leave a decent inheritance for the kids? And where do cashflow-positive properties fit in to all this? (And what even are they??)

We get it folks… there’s A LOT to consider when it comes to picking and following the right investment strategy!! Let alone adding on top of that trying to factor in future costs, changes to income, individual needs and capital gains on each property!

So, in this special Q&A on property investment strategies, we’re going to answer a handful of our listeners’ very own questions that dive into the common dilemmas and unique situations folks are facing!

Plus, given the recent news, we’re going to touch on the proposed changes to Queensland’s Residential Tenancy Act as well!! Learn more about the ‘Opening the Doors to Renting’ Reform here.

 

Oh, and not to mention we have a very, very special gift for you…

(which we hope will even the par on the “Black Friday” discounts happening all over the globe, which let’s be honest, aren’t exactly designed to make your money work HARDER for you!)

 

FREE BOOK!! (yes, it’s a physical copy!) – The Armchair Guide to Property Investing – How to retire on $2,000 a week

www.TheArmchairGuide.com.au

 

Yes, really. We’ve got a stack of books ready to go in the office — and until we run out, we’re GIVING THEM AWAY! Here’s our crazy deal…. We pay for the book. You pay for the shipping.

CLICK HERE to Get Your FREE COPY of The Armchair Guide to Property Investing (just pay shipping, and it’s all yours, provided we have enough left!)

 

The Black Friday Announcements:

 

 

Today’s Questions

Question from Brad

Hi guys, awesome podcast! Very informative. My wife and myself are in a bit of  a unique position, we currently have a house on the family farm we pay minimal rent for. We recently bought our first home, which we are living in due to the First Home Buyers scheme, and will turn into our investment in February; my question is how long until we buy our next property? How much should we look at spending? How do you set up the next investment, as in interest only or principle and interest?

 

Question from Stephen

Hi. Just in relation to The Property Couch Facebook Page I was just wondering what makes a cash flow property if you could explain. Thanks all. Totally addicted to the podcast.

 

Question from Scott

G’Day property gurus, LOVE your work. For the case that we are holding multiple investment grade properties, have a strong cash buffer, and they are cashflow positive but not enough to fully live off. Is a hold strategy and living off the capital growth a possible retirement strategy? Of course, it’s important that they are growing at a faster rate than our living expenses, but can this strategy work long term in retirement?

The big pro for me is that it maximises the value of the inheritance which we’ll leave the kids. What are the watch outs for this strategy? Keep up the great work, and Go Pies. Scott

 

Question from Sara

Hi Bryce and Ben, thank you for your fantastic informative podcast. I listen to it a few times a week and am learning so much. I am a 36 year old woman and have a question regarding buying an investment property now, or family home in 3-4 years. I have $115K saved for a deposit. I am currently on maternity leave with my first baby and will return to work 3 days per week from March 2020 earning around $66K pa total (not pro-rata). I anticipate that I’ll stay at 3-4 days per week ($66-88K pa total) until we hopefully fall pregnant with a second baby in 2021. All of this means I will have part-time and maternity leave income until around 2023 when I’ll likely return to full-time work (earning around $115K pa).

I have wanted to get into the property market for ages but wanted to wait until I met a partner so we could consolidate our savings and buy a family home (and this only happened in the last 2 years). As it turns out my partner works freelance and has not been able to make enough to save for a deposit, so the responsibility for that is with me at the moment. We obviously hope that his earning capacity will improve. At the moment he makes ends meet with around 30K pa.

We currently rent in the inner city but would like to buy a family home in a regional area with a commutable distance to the city, as it is more affordable (median house price $650K), and offers a better quality of life for our family. With my work commitments we don’t see ourselves moving out of the city until after we have baby number 2 (so in 2-3 years).

My question is this: given that we don’t plan to move out of the city for 2-3 years should we keep saving during that time and then buy our family home in the regional area, or should we consider buying a 2 bd unit in the area we currently live (at around $500K) initially to live in (to save on stamp duty) and then as an investment property? I feel anxious about waiting another 3 years to get into the market as prices will continue to increase (albeit at a slower pace in the regional area), and at 36 years of age I am already leaving it very late to start out.  Additionally, if we were to buy a unit in the city, would we be able to use that as equity in buying a family home in 3 years’ time? Or would that mean we couldn’t get another loan? I know that our borrowing power will not be strong with me only working part-time and my partner’s low income.

I know you can’t give specific financial advice, but I thought this must be a common dilemma with the restrictions of maternity leave income bumping up against the pressures and timing of getting a foot on the property ladder. Thanks in advance for any insights you can offer,  Sara

Ps. Are you able to let me know when/if you answer my question? I’d hate to miss it.

 

 

 

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