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257 | The Exception To The Rule When It Comes To Off The Plan Properties & House And Land Packages

Recently, ABC’s podcast The Money ran a very poignant episode on the financial risks of unregulated property investment advice (which we highly recommend you check out – details below folks)… which revealed the pitfalls of buying Off The Plan properties and getting snagged on the end of “one-stop-shop” spruiker seminars.

As well as interviewing two unlucky folks who learnt about investing in Off The Plan in the worst way possible, the episode also features a property ”sales person” … and the look from the other side… is… well… let’s just say we’ve got something to say about it!

‘Cos as you know folks, we hold a VERY strong view on these types of investments — and we’ve been very vocal about this since we first started croaking out this podcast — so why then … would we have an “an exception to the rule”???

Well… that’s where today’s episode comes in! ‘cos if you’re going to go there….. (and many of you STILL write to us about investing in Off the Plan properties AND House and Land packages.… then we want to make sure you stay FULLY informed.

AND we’re also going through a Q&A on this tackle this exact topic, so you might get the answer you happen to be pondering right now!

 

CLICK HERE to Listen to ABC’s The Money podcast episode — The financial risks of unregulated property investment advice

 

 

Other Free Resources Mentioned In This Episode

 

The Questions…

Question from Brittany

Hey guys! Absolutely love your podcast. Wanted to share something I found. The offer is – buy an off the plan apartment, and get a free Mazda 2. Reeks of a buyer beware scam! Is this even legal? I have never seen anything quite like it and had to share it with you guys.

 

Question from Alana

I have been listening to your podcast, I have invested in a house and land package in Tarniet, I will be owner occupier . I will be investing with a friend, therefore half the debt will be mine we will be investing around 450,000 total. There are proposed schools next door and a shopping mall and train station going in. Everything in your podcast leads to don’t buy a house and land package… have I stuffed this up already?

 

Question from Juan — Is It ALWAYS A No To Buy Off The Plan?

Hi guys, First of all – thanks for your great material! It’s great, ‘specially for someone like me who is new to Australia, understanding the way everything works here is gold. I have heard most of your podcasts and also done some research online and I wanted to ask a question around Off-the-plan investments that I still can’t understand. Everywhere people say it’s a big NO-NO. I understand the risks involved (delays, not seeing the finished product beforehand etc) but my wife and I have found an OTP property in a suburb we like (Bentleigh, within the Mckinnon School zone) and we think it’s a good place to live. The developer has done at least 3 different developments in the area all of which we like the finishes and have built it in perfect timing. I wanted to ask why would this be considered a really poor investment? Are OTP properties definitely a NO? I understand the case of Docklands and closer to the city suburbs where you had thousands of developments which made the price go down but in Bentleigh I don’t think this is the case. I have subscribed to locationscore.com.au and the score is relatively well considering that I will live in this property and it’s within my budget. I just wanted to get a sense of your thoughts around this as I am a true follower of your words of wisdom. Hopefully you have some words for me. Thanks in advance and keep up the excellent work of empowering people like me with information. Juan

 

Question from Phoebe

Hi Property Couch,

I have a question for you. My partner and I recently signed a contract for a 2 bedroom 2 bathroom apartment in Camp Hill, Brisbane. It is a brand new apartment building (small block – only 7 apartments). We plan on living in the apartment (for now but would like to rent it in the future – roughly 3-5 years time). The developer originally wanted $569k, dropped it down to $539k and we signed a contract for $529K. When applying for a home loan, the property was valued at the property $29,000 less than the purchase price. Their report considered market direction, volatility and segment conditions to be of medium to high risk. This is very concerning for us as first home buyers. We don’t know whether the banks are just being overly cautious. What are your thoughts on this? I know you mentioned in your very first podcast, if you are buying new, you are most likely paying too much. We think the apartment is really good quality and ticks a lot of our boxes. Help! Thanks for your time.

 

 

 

 

 

251 | What’s NOT Going To Change in Property Investing?

We all love questioning what the future holds and speculating on what’s in store for us. And, of course, investing in property is no different. But the thing is… is it helpful to put all that emphasis on the things we can’t control?

See, today’s episode is all about looking through the lens of this quote by Amazon Founder and one of the richest men in the world, Jeff Bezos…

 

“I very frequently get the question, ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that that second question is actually the more important of the two — because you can build a business strategy around the things that are stable in time.” Jeff Bezos, Amazon Founder

 

Folks, when we ask ourselves “What’s NOT Going to Change in Property Investing?” we are actually asking ourselves a higher quality question. And this higher quality question not only helps us to see things more clearly and make smart chess moves, but also, it empowers us to remain the ones in charge despite what future changes occur.

So… what’s always gonna be the same in property a decade from now? Or 20 years from now? Or 40? What are the things that’ll always influence property prices?

Well, tune in folks… and we’ll tell you exactly what’s NOT going to change in property investing!

 

Free Stuff Mentioned…

 

The Top Highlights…

  • Realistically, will property prices always grow?
  • What type of infrastructure coming into an area does NOT always mean gentrification?
  • Which human behaviour traits will always occur, no matter what?
  • What’s going to happen to Property Spruikers with their “get rich quick schemes”?
  • What specific things are NOT going to change in property investing???

210 | John Hartill – How to Recover from Making Every Mistake Possible in the Investing Game

Folks, our Summer Series continues with ANOTHER ripper guest! And not only is today’s guest a very special TPC listener (!!) but also… he is a REAL LIFE INVESTOR!

But there’s a problem…

John Hartill has learnt many things the hard way. Unfortunately, he made mistakes along the way that, if we’re being completely honest, have cost him a small fortune. Over his property investment journey (encompassing a couple of decades now) John has been spruiked to, sold to and, sadly, bought really bad properties.

The fact is… He’s tried every property investment strategy under the sun — buying house and land packages, developing property, renovating, investing in positively geared property — you name it folks!

And as a result, John’s had to learn the true cost of holding property and what’s at stake if you get your advice for free, buy off-the-plan or jump in without the correct education to support you.

And he’s here to share his personal story so that YOU can avoid making the same mistakes.

 

Here’s the gold…

 

If you missed our earlier episodes in The Summer Series:

 

P.S. Don’t forget, DOWNLOAD our Free Binge Guide here – The First 20 Episodes!

This 80-odd page document is the vault containing all the foundational tips and insights you need to be a successful investor.

Your Binge Guide to the Foundations of Property, Finance and Money Management

It’s FINALLY here!

Now we know that it’s getting harder and harder to catch up on every single one of our episodes. That’s why we’ve prepared this Binge Guide which summarises the first 20 episodes of the podcast. There’s a lot of foundation covered here, so in other words, it’s alright if you skip some of the episodes but not these ones! 🙂

 

What to expect in this 90-page cheat sheet?

  • The foundational knowledge from each of the first 20 episodes
  • The absolute GOLD that you should not miss out on!
  • Quotes from Bryce and Ben that will make all the difference
  • Links to all the free resources that they mention in the episodes
  • Additional bonuses that will help you in further understanding the fundamentals
  • And of course…charts and graphs that you can’t find on the podcast!

 

 

And here’s what it looks like inside:

Interested? Fill in the form below and we’ll email it to you right away!






150 | Margaret Lomas: How this mother of 5 turned $80,000 into a multimillion dollar property empire

HAPPY 150 EPISODES!!!

Yep, that’s right, folks! Today officially marks our 150th episode……. and, boy, do we have a show in store for you.

First up, you’ll finally hear Stiggy speak! Uh-huh. This is one-of-a-kind stuff.

Secondly — and it’s only taken us 100 episodes to get her on — you will also hear from one of the best in the business, Margaret Lomas!

As you likely know, not only is Margaret the Director and Founder of Destiny Financial Solutions, a best-selling property author (8 books, mind you), but also she is an active property investor and qualified property investment advisor; hosting two weekly property investment shows, Your Money Your Call and Property Success with Margaret Lomas, both of which she creates and produces.

Indeed, she is a busy businessperson, also on the board of Property Investment Professionals of Australia (PIPA), past winner of Business Woman of the Year and — let’s be honest — the receiver of WAY too many accolades for us to list here!

Before we get into it — side note — Ben’s Webinar Impact of Interest Only Lending is finally out! He’ll tell you about it now.

 

So, what are you about to find out?

  • Margaret’s introduction into, and motivations behind, her property investment journey
  • What is the Rapid Debt Reduction method and how Line of credit works
  • Budgeting, tracking and managing your money
  • Why accountability matters and her recommended “Property Headspace” needed for commitment
  • The $18,000 risk it took to create her multimillion dollar property empire?
  • ****** A SCOOP FROM MARGARET LOMAS ******
  • Property development! Her experiences, mistakes and why she would do it again
  • Understanding council plans and how to deal with them
  • What is she working on in property right now?
  • Sell vs Hold — which one?
  • Practical tips you can use to source growth drivers
  • What other things you need to know about picking the next hotspot (and why she thinks public transport may not be as important anymore)
  • Margaret’s shift in mindset & how it’s shaped both her life and investment journey
  • Why is the age of people living in an area crucial to an investor?
  • What is the one thing she wants you to know? (!)

and

  • LIFE HACKS ALL ROUND!!!!!!! (Stiggy AND Margaret Lomas)

 

ps: And here’s the link to our practical but hilarious Facebook video! So much so that Bryce nearly spilled his drink! Watch below or click here to watch it

 

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