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Episode 361 | When Is It Too Late To Get Into Property?

Have you left it too late?

Has the market moved?

Are you too old to start?

With the media hyping on about how hot the property market is these days, we get that some of you might be feeling a little anxious (even frustrated!). Everywhere you go, you’d probably hear people saying, “The prices are crazy these days!”

And yes, they might be right.

So… If you’re worried that it might be a bit too late to start investing in property, then today’s episode is perfect for you.

And the best part is…

There are quite a few calculations today too!

Better get a pen and paper on standby or just reduce the playback speed on some parts 😉

Oh! Before we go ahead with the questions, just a bit of a teaser… Make sure you stay till the end cause Bryce and Ben will be sharing their early prediction on how this year’s property market will end and where will next year’s market go on the “What’s Making Property News” segment!

 

 

Free Stuff Mentioned

  • Summer Series is around the corner and we’d like to hear from you! If you’ve gone through (or even going through) a financial transformation journey, let us know. We’d love to listen to your story! Simply fill in the form below or go to  thepropertycouch.com.au/mystory
  • We are also looking for a talented copywriter/storyteller to join our team! If you’re interested, learn more here:  https://www.seek.com.au/job/54189273
  • (Podcast Series) The Armchair Guide to Property Investing! Listen on Apple or Listen on Spotify
  • (Free Book) The Armchair Guide to Property Investing – Get a copy here

 

 

The Questions We Answer

Question from Luke about Having a $700k Mortgage in Late 40s

My wife and I are at a crossroads.
We never thought owning a home was worth it until now…and I reckon we’ve missed the boat…
For years my wife and I deliberated over buying a home. We travelled for work in our 20’s so renting was easier while we were on the go… by the time we settled down to have kids one income made it almost impossible to save for a deposit.
Fast forward 15 years and we’re 46 with 2 teenage kids and still renting…
We have around $260k in super between us plus $80k in savings. We’re sick of seeing that $3k rent money disappear from our banks each month and we are scared of renting as we age further so is it worth having a $700k mortgage at our age? And if not, what is the best way for us to secure our future?

Recommended episodes for Luke

 

 

Question from John about Selling Shares to Put in an Offset Account

Hi Bryce and Ben.
Love the podcasts and I’ve been a keen listener for a couple of years now.
I’ve learnt a lot from you guys and have recently just bought my first investment property. I also have a small amount of shares invested in the market which I’ve made capital gains on.
My question is – is there any benefit, tax or otherwise, in selling my shares and putting the money in my offset account?
For example, can I reduce my capital gains tax on my shares by moving that asset into the offset account?
P.S GO GWS!

Recommended episodes for John

 

 

Question from Renee about When to Buy a PPOR?

Hey guys, I have recently found your podcast and am grateful for the wealth of knowledge you provide.
So firstly, thank you!
I have a potential podcast question. The penny has just dropped regarding what you said about obtaining negatively geared investment properties with an aim for capital growth early on, then leaning towards neutral and cash flow positive properties later on.
My question is, strategically when does buying a PPOR fit into that scheme? Should you invest, sell, buy PPOR then invest with the equity? Particularly in south Sydney where anything 3 bedroom is at least $1.5 million.
I thought some personal context might be helpful.
I’m 25 and have an apartment in south Sydney that I’m currently living in but could be an investment long term. I have a stable income about $115k that will go up to about $150k by the end of next year which is when I will hopefully buy an investment property.
Obviously holding on to both properties would be the goal but I’m struggling to see how I could buy a PPOR by 6 or 7 years time without having to sell both.
Thank you in advance!

Recommended episodes for Renee:

 

 

Question from Peter about Get a Loan with high interest vs. not buying?

Hi Bryce and Ben,
Love your podcasts. Want to ask quick question in regarding real estate investing.
I have reached my borrow capacity but can do low doc loans, would you think it better to get a loan with a bit higher interest than not buying property?

Recommended episodes for Peter:

 

 

Episode 360 | The XYZ of Property Pricing: Getting The Rules of Engagement Right

Imagine this…

You found your ideal property in the perfect location. You’ve inspected it, you know exactly what the purchase price is going to be AND you’re pre-approved for that budget. You’ve spoken to the selling agent and is crystal clear with the vendor’s motivation. You negotiated some terms and put your best offer forward and BAM!! it got accepted right away. Happy days!

Unfortunately, it’s probably NOT going to happen in the current market.

When it comes to property prices, getting it exactly right would be perfect for buyers. But in a hot market, it’s very very hard for most buyers to nail it right away. Unless of course you’ve got a lot of spare time in your hand or you’ve engaged a professional to help you out. In today’s episode, we will share the XYZ of property pricing that our own buyer’s agent team are practicing and some of the tips that you can implement right away to get as close to the selling price as possible.

But… are you wondering if it’ll work in the current market and with all these new ways of transacting?

On top of that, with lockdown restrictions, how are you going to inspect properties and if you can’t, should you buy sight unseen?

That’s exactly what we are going to unpack today.

PLUS Bryce and Ben will also be addressing the big old Fixed Rate vs Variable Rate question. With the impending lending requirement changes (check it out in Ben’s RBA update), it’s probably best that you get your loan questions answered sooner rather than later!

Tune in now for the gold!

Q’s we answer further below 👇

 

Free Stuff Mentioned

  • Summer Series is around the corner and we’d like to hear from you! If you’ve gone through (or even going through) a financial transformation journey, let us know. We’d love to listen to your story! Simply fill in the form below or go to thepropertycouch.com.au/mystory
  • We are also looking for a few talented individuals to join our team! From a Journalist/Copywriter to an Associate Property Investment Advisor and more. If you’re interested, head to our Career Page here to learn more.
  • (What would you like to be known on the podcast?)

  • A quick summary on your Money Story!
  • Don't spill all the beans! 😉

  • And finally, have you implemented the Money S.M.A.R.T.S?
  • This field is for validation purposes and should be left unchanged.

 

The Questions We Answer

Question from Mark about Buying in Covid Lockdowns

I’m currently looking for a home in Melbourne to live in.
Over the last month because of COVID you haven’t been able to inspect any properties however in the last month there’s been about four properties in the same suburb that have sold sight unseen for about $50 to $100,000 above asking price.
Is there any way you can explain this behaviour and give me any advice on how to could compete against these people.

Recommended episodes for Mark:

 

 

Question from Tracey about Best Questions to ask a Real Estate Agent

Hi Property Couch Team!
Thanks for the podcasts it’s really driven myself and hubby and has given us the confidence to buy investment property, so much now that we’re looking to buy a second one and this one I’m looking at the Gold Coast.
My question is I have a good handful of properties that I’m looking and interested in but they’re nearly all at auction and I live in northern New South Wales.
When contacting a real estate what are the the first best questions to ask when you can’t go to view the property and you wanna see if it’s in your price range.

Recommended episode for Tracey:

 

 

Question about Interest Rates – Fixing Your Loan before buying an IP

Hi guys, first of all thanks for the great podcasts. I’ve been listening for a little while and super inspired with all the informative information.
Just a quick question about interest rates and whether or not I should lock in an interest rate before planning to buy an investment property.
So I’m about to buy an investment property within three months. What are your thoughts on locking in a fixed interest rate today rather than waiting for three months?

Related episodes:

 

 

Question from Rhys about Buying Off the Plan and Co-Living Spaces

Good day Bryce and Benji, Rhys here I just want to ask two questions if that’s OK?
First question relates to property advisors/buyers agents. The guy who I’ve been recommended by a friend I’m a bit skeptical of because he doesn’t charge outright and so he takes Commission from the sale of properties and these properties tend to be building like off the plan from developers or builders.
Second question relates to this, he’s really big on co-living spaces, you know for young professionals or whatever, who are seeking out shared living space just because of the rental yield.
I’d love to hear your thoughts on this. I love your show guys thanks for that

Related episodes:

 

 

What’s Your Money Story Like?

We get it… Talking about money can be quite awkward. We felt it when we open up on our story in Episode 197!

But it’s good! Because then we can understand ourselves better and would be able to learn more from each other as well.

So, would you like to be on our Summer Series Podcast?

We’d love to listen to your story and your own tips and tricks in money management! And as promised, we will be very gentle. And if you have a specific question in mind, we want to hear it directly from you too!
Just fill in the form below and we’ll get in touch right away. 😉

 

  • (What would you like to be known on the podcast?)

  • A quick summary on your Money Story!
  • Don't spill all the beans! 😉

  • And finally, have you implemented the Money S.M.A.R.T.S?
  • This field is for validation purposes and should be left unchanged.

 

 

 

 

 

 

 

Episode 356 | Secrets Behind A $250M Net Worth – How This Investor Did It! Chat with Fred Schebesta

Meet one of the richest Australians under 40… and learn how he built a net worth of around $250 million!

Folks, today we have a very special interview with Fred Schebesta — the co-founder and CEO of the comparison website Finder, which is one of the world’s biggest comparison websites and money apps that helps users compare products across 105 categories, from car insurance to cruises.

And Fred, who went from working in a Pizza Hut call centre as a university student to running a business that employs 450 staff in 80 countries, has some Radical Rules on Money, Investing, Cryptocurrency (… any bitcoin fans, out there?!), Property, Stocks and Business that will make you look at things a WHOLE Lot Differently!!!

You’re about to get the behind-the-scenes secrets of someone who has experienced HYPER success when it comes to wealth creation… but what we’re super keen for you to hear is the MINDSET it took to create such an impressive net worth in the first place — including what it means to “Reframe Mistakes”, focus on “Concentrated Investments” and go against the grain to carve your own Lifestyle Design.

Fred is also the author of  Go Live! 10 Principles to Launch a Global Empire and while we do indeed cover his epic journey as an entrepreneur (…just wait ‘til you hear it!), there is plenty of gold in there for everyday investors at ANY stage of their journey.

Psst… Oh, and yeah… while we might not ALL be able to invest in a spaceship-like Fred (yep!), we will say this:

… This is a VERY rare opportunity to learn from someone at the top of their game… and from someone who has achieved significant success.

Tune in now to get the secrets behind a $250M Net Worth… you won’t forget this one!

 

Free Stuff Mentioned

 

Here’s What We Cover…

  • 04:38 – Meet Fred!
  • 05:22 – What was money like for Fred growing up?
  • 05:58 – What does he invest in?
  • 08:49 – How does Fred teach his kids about money? (… wow, skills for life!)
  • 09:31 – Fred’s Radical Rules Around Money!
  • 12:56 – Fred’s 2 Biggest Keys to Wealth Success…!
  • 13:38 – SLAPPED By Google…. what the!?!
  • 16:43 – Growth Mindset vs Upbringing
  • 20:35 – Making Money While You Sleep: How’d It Start?
  • 22:48 – Such A High Net Worth… how does that actually feel??
  • 25:59 – The Mindset Behind A $250M Net Worth!
  • 26:25 – Why CONCENTRATED Investments?
  • 28:35 – When You Lose $150,000…
  • 28:58 – How To Reframe Mistakes!
  • 30:30 – What Warren Buffett Asked Bill Gates…
  • 32:04 – Investing In Bitcoin Mining Companies
  • 34:27 – When You’re Looking To Buy Spaceships…. (!)
  • 35:26 – Where Does PROPERTY Sit In Fred’s Thinking?!
  • 39:41 – Buying Property Now & Inflation…
  • 39:38 – Fred’s Mum & Property Investing
  • 41:57 – Investing In Bitcoin!
  • 44:29 – Who Runs Bitcoin?
  • 47:29 – The New Financial System: Will It Overtake The Old One?
  • 49:20 – The First Critical Step To A Winning Investor Mindset
  • 52:13 – Why you should be a Continuous Student of Life!
  • 52:53 – How to create a life you don’t want to escape from
  • 53:41 – What’s the vision that drives Fred BEYOND money?
  • 57:05 – Fred’s final message for you… (LOL)
  • 59:30 – How to stack the odds in your favour 😊

And…

  • 1:00:45 – A Home School Hack For Your Kids!!
  • 1:03:27 – What’s Making Property News??

 

 

 

Episode 350 | How BEN Did It: A Passive Income of $190,000 Per Year… At 50!

Meet Ben Kingsley – Oh, wait. You probably have.

Not Gandhi, the other one.

The co-host of this podcast?

Yeah, THAT Ben.

Today Bryce is INTERVIEWING him, which might sound a bit odd. But, stick with us, ‘cos we promise you it’s going to be an episode you won’t ever forget, folks!

Why? Well, Ben has practiced what he preaches. That is – he has personally built his own property portfolio, played the long game and for his 50th birthday this month, he will gift himself a passive income of $190,000 a year from it. Not bad, huh?

Portfolio, Done. Passive Income, Done. Lifestyle Design, Done.

Speaking of Lifestyle Design, this interview with Ben is taking place while he’s in the Kimberley, Western Australia! Turns out, he has – along with his wife Jane and their two boys – taken a 2-month sabbatical to their dream destination – something that was factored into their life and property plan many, many years ago.

Wait – they planned this holiday YEARS ago?

Yep, they sure did. And Ben is going to tell you exactly how he and Jane built their property portfolio to make certain it happened. (And how it helped fund the entire trip.)

In this “Never Before Revealed” episode, Ben is going to share his OWN journey to Financial Peace with you… and how he did it using the exact same principles and frameworks we teach on The Property Couch!

So, who is this wise ol’ mate, Ben Kingsley? And what can he share with you about his own journey to get here that he hasn’t publicly shared before? And can someone please tell us exactly what his portfolio looks like!?!

Sure. Strap yourselves in. This is a RIPPER!!

 

Free Stuff Mentioned

  • Ben’s $500,000 Mistake – Read here
  • Our NEW TAX SERVICE within our business! If you are on the hunt for a specialised property tax accountant, fill in the form below to register your interest or click here to find out more.
  • Please select your type of Tax Return

  • If you've engaged our services before, tick the checkbox below:

 

Here’s what we cover…

  • 7:08 – A quick update on last week’s episode with Julia regarding BA fees in Canberra
  • 7:30 – Our brand new Tax business! Register your interest here.
  • 11:55 – Mindset minute: What’s found outside your comfort zone?
  • 16:11 – Ben’s dinner table money conversation in “Fundoora”
  • 17:40 – How many jobs did Ben’s dad had just to pay down his debt and what happened the very next day after his dad retired at 55!
  • 20:05 – What happened at home that caused anxiety but yet motivated Ben to do things differently?
  • 29:25 – __________ boots and _________ equipment << This is what they lavish on growing up
  • 30:05 – The Functional view on his purchasing decisions
  • 33:42 – The TWO INVESTMENT PRINCIPLES that started Ben’s investment journey
  • 36:34 – First business he ever started that failed and pushed him out of his comfort zone
  • 39:01 – Who are his early mentors – before Google?!
  • 39:52 – Some of his experiences with spruikers and the mental triggers that they used
  • 43:20 – The one problem that Ben was trying to solve that made him started an award-winning financial advisory firm
  • 49:12 – When and who triggered the creation of Money SMARTS?
  • 51:15 – The behind the scenes work when planning and implementing his lifestyle design of achieving passive income of $190,000 by 50
  • 57:50 – Ben’s portfolio in detail – how many properties, type, location, yield and growth! (FIRST TIME ON THE SHOW!)
  • 1:04:20 – Who did he meet in the Wyndham that made it all worth it?
  • 1:10:40 – Overcoming the 3rd Generation Curse and a Sense of Entitlement
  • 1:11:29 – Bryce’s lifehack
  • 1:11:30 – Update on Labor’s Negative Gearing policy

 

 

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