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265 | The Incredible Money Transformation That Happened In Less Than 18 Months – Chat with David

By in Podcast, Real life stories, Summer Series

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It was mid-2017 when David List and his wife, Lisa, decided to purchase their first investment property. But a few days into the settlement, and feeling a bit of buyer’s remorse, David did a quick Google-stalk to see what else he should probably know about investing… and that’s when he stumbled upon these two middle-aged larrikins (which turned out to be us!) riffing about property, finance and money management!!

From there, we’d like to think it became an immediate love story with The Property Couch… but, truth be told, that day we completely overwhelmed him, making David feel like there’s way more to “all this” than he first realised… (eek, our bad…)

Thankfully, somewhere along the line we must’ve said something that made sense… because he preserved and quickly got all in gold in the first twenty episodes, which got him up to speed on the fundamentals we’re all about. And one of those fundamentals — one of our Four Pillars of Mastery — was, of course, Cash Flow Management… ie. being smart with your money and knowing exactly where your hard-earned cash goes!!

This set fire to a whole new David and — we’ve gotta admit it — has transformed him into one of the BEST money managers we’ve ever seen! And this transformation has overflowed into almost every other area of his and his young family’s life… including their property story!

 

So, here in the studio — on our very first episode of 2020 — after putting Money SMARTS to the ultimate test, and coupling it with a money management app where he categorised every single transaction during 2017 – 2018…. well, let’s just say today’s guest has gone through an INCREDIBLE money transformation, folks!!

 

And just wait ‘til you hear what David — who once upon a time, left the money management up entirely up to Lisa — has brought into the studio, which tracks their ENTIRE financial story!!! (it’s a proud moment, folks! And not just ‘cos he brought us all gifts too, ha!)

 

Free Resources Mentioned:

 

Episode Breakdown

 

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264 | How $4,000 Turned into Six Properties – Chat with Joey

By in Podcast, Real life stories, Summer Series

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When he bought his first investment property, Joey D’Agata was too nervous to do his own bidding. But, flash forward four years, and he’s now self-built a high-income producing portfolio consisting of SIX properties. And, even more impressive… he’s only 26!!

So folks… how on earth did Joey make this happen for himself? Especially considering the fact that when he first started saving, he was earning less than $50,000 a year and was seriously concerned that someone in their twenties wouldn’t be able to afford to buy a SINGLE property, let alone go ahead and invest in six of them.

So, the multi-million dollar question is… how’d he do it?

Well, this is where the $4,000 comes in…..

… Keep in mind, there’s a bit more of a back story here, which we’re unpacking in this episode, but here’s the quick overview: Joey “embraced” Lenders Mortgage Insurance (LMI).

Now, when it comes to Lenders Mortgage Insurance, we always say… “Avoid it when you can, but embrace it when you have to.”

Why??? … well, that $4,000 cost went on to put Joey in a position where he could buy another FIVE properties.

 

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Today’s “Lecture Notes”

 

 

 

263 | How A Bag of M&Ms Set The Foundation For A $120,000 Passive Income – Chat with Keno

By in Podcast, Real life stories, Summer Series

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It turns out a bag of M&Ms has the power to build a passive income…

Sure, there’s a few more steps to get from “A bag of M&Ms” to “A passive income”… but you can bet on the fact that it does NOT take away from today’s epic story line!

And it’s one heck of an epic storyline that involves not JUST a packet of chocolates… but also 50 cents… a half-year-long sabbatical and… wait for it…. a property portfolio consisting of only TWO INVESTMENT PROPERTIES that will deliver $120,000 passive income in retirement!!!

Spoiler alert: today’s guest Keno Diamante is about to tell you exactly why planning ahead WILL change the game for you! And why is he in a position to share this story?? Well folks, he’s walking proof of it!

Another ripper episode in our Summer Series that can’t be missed. Hear it straight from the mouths of the folks who’ve gone and put their knowledge into action!

Before we get to the awesome chat with Keno today, here’s a quick message to all Queensland Property Owners. The Queensland Government has proposed changes to the rental tenancy legislation and you only have until 5pm, Saturday 28 December 2019 to have a say. So it’s imperative to act now and ensure property investors are heard on an issue that will affect your financial security. To help you make your submission below are the guide from PICA or you can also click here for a step-by-step instructions. You can also cut and paste the information below or make amendments as you see fit:

 

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The Gold Covered in This Episode…

 

Quote of The Episode

“Imperfect action beats perfect inaction.”

 

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262 | Before & After: From “Scared and Sold Everything” To Financial Peace – Chat with Gabby

By in Podcast, Real life stories, Summer Series

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“80% of winning is beginning”

 When Gabby first invested in property, she lost her nerve and pulled the pin early … she sold everything. And a very big reason she got rid of the lot was simple and actually pretty common — she didn’t have enough confidence that she could “weather the storms” accordingly.

But then she found Money SMARTS, our simple 7-step money management system… and now Gabby’s life — as well as that of her husband and their 11 and 13 year-old kids — looks a WHOLE lot different!! For one, they have financial peace… and, armed with a strategic Plan to earn a passive income for life, they’re about to embark on investing again… this time with confidence they’ll be able to hold onto the properties for the LONG TERM.

The question is… what did this transformation look (and feel) like???

Well, tune in folks because that’s exactly what you’re about to find out!! Yep. We started our Summer Series with James Clear teaching us How To Hack Your Habits To Make You A Better Money Manager … and now you’re about to hear it from someone who went ahead and actioned it!

 

AND a Special Announcement to fellow Investors out there…

As Ben mentioned, if you own an investment property in Victoria, the proposed changes to the Victorian Rental Tenancy Act will impact you, so it’s important that you act now. Given the significant changes to the Act, your property could be impacted in terms of:
1. It’s future Value
2. How you manage the property going forward
3. Your tenant selection process

The Property Investors Council of Australia (PICA) is asking you to make a personal submission to the Victorian Government regarding this legislation. You only have until 5pm on Wednesday 18 December 2019 to have your say on the draft regulations. You must act now to ensure property investors are heard.

To help you make your submission please follow the instructions below:

  1. Click on this link here to open your word submission document. Give it a name- ie “John Smith’s submission form” and add your name to the bottom of the submission (in the highlighted red section). Save it in your computer.
  2. Click on this link https://engage.vic.gov.au/rentingregulations and scroll to the bottom of the page
  3. In the “Make a submission” section, enter your name and email, leave the section titled ‘organisation name’ blank. This ensures the submission is entered as a private individual and not part of PICA as we have already submitted one.
  4. Click on “Choose file…” and look for the submission form that you’ve saved on your computer. Click on “Open” and that will attach the file.
  5. Click on “Submit”

 

Free Resources Mentioned:

 

The Episode Breakdown

05:20 – Gabby’s Money Backstory! (You can hear what money was like in our own lives here)
12:55 – When did Gabby decide to get serious with money?
18:16 – What was it like to see Money SMARTS visually?
19:21 – How transformative is an offset account?
22:31 – What “provisions” are being tracked?
24:10 – How long is the monthly check up?
25:20 – How has Money SMARTS impacted the way Gabby buys groceries?
26:44 – Who had the most difficulty getting used to the 7Day Float?
28:00 – Money Lessons for Kids: talking money around the dinner table
28:20 – How is their money working harder now?
32:20 – What app does Gabby use to help her manage the 7 Day Float?
33:20 – Why advice?
40:10 – Gabby’s advice for you….

 

Keen to Get Started with Money SMARTS like Gabby?

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What are the Best Performing Properties in Australia?

By in Free Resources

And we are back again on Weekend Property on TODAY chatting with Alison and David about the best performing properties in Australia!

So what are the boys covering in this segment?

✅ Are we going to continue to see this doom and gloom in the market?
✅ What are the locations that buyers should focus on?
✅ What are the three factors that are affecting the value of the location?
✅ Asset selection tips for each of the major cities across Australia

Tune in now to find out more!

Alison: Well, house price in Australia has now been falling for more than a year and many suspects that they will continue to go down.

David: Yeah, it’s such a challenging market it’s hard to know which type of property will perform best for now. We’re joined by Ben Kingsley and Bryce Holdaway all the way from The Property Couch Podcast. Guys, good to see you! It seems to be a bit of doom and gloom out there at the moment. Every time I pick up a paper, it’s a disaster. What are you guys thinking?

Ben: Yeah David, generally speaking, we are probably going to see some further declines in some market across Australia. We had a building boom so we now we got the reminisce of a bit of oversupply and we also got a credit squeeze going on as well which meant that demand side of the equation is also pressured. You know, I think 2019 is going to be a year where it really is about flight to quality and there are certain types of property that are going to perform better than others.

David: But as you said though, is that something that… is it the levelling out that we needed to have as a nation?

Ben: Yeah definitely in terms of it being a manufactured correction in terms of taking over the lending activities and in terms of scrutinising lending policy means that we don’t have the same sort of rush. That definitely affected the appetite for investors as they can’t borrow the money. That’s part of the manufactured correction that we see from the regulators.

Alison: Are there are any suburbs that are bucking the trend?

Bryce: Look, in terms of, helping people.. Because it’s an essential need right? So despite the fact that you’re reading the headlines and it’s saying that it’s really negative, we still need to put a roof over our head. So we like to help people to understand the bigger picture principals to buying property that will probably outperform and it usually comes down to three things. Economic activity, human interest and human behaviour.

So economic activity is just a fancy way of saying how am I going to get a job, is it easy to get to work in the morning, am I too far out, do I have a huge commute because that’s going to make a huge difference. Alternatively, if you’re in a mining town, you’ll get a job but you won’t have the other ones.

Human interest is, what am I going to do at the weekend when I’m not working? Is there a park, is there a cafe, can I meet up with my friends, is there any water nearby?

And the third of is human behaviour so that’s largely the status test. So what would people think of me if I live in this suburb? Do they think very highly of me or do they think I’m in a lower socio-economic area? Alternatively, in a gentrifying area. So if you overlay economic activity, human interest and human behaviour across the suburb in a market like what we’ve got now, it’ll help you make a decision into what suburb you’re looking at.

David: Alright let’s talk about the suburbs. What areas are best in each city? Take us through!

Ben: Yeah if we do a fly-around, I’ll start with Brisbane. Brisbane is a story of a river city. So in terms of being closer to the river and if you can get on the north side of the river, that’s probably where the job opportunities are. Then if we look at Sydney, it is a story of being close to the harbour and also the beaches. Obviously, you got bigger congestion as you get closer to the CBD but because of that, being close to a train line helping you get around the city a little bit easier. There are some of the drivers.

Bryce: Now in terms of Brisbane, there are similarities to Sydney but it doesn’t have the harbour or beach as a driver so it’s really how close can I get to the CBD. And that congestion is enormous so we got to make sure you’re buying in an area with a train line or access to a train line. Hobart, that’s all about views and being able to walk to the CBD because it’s such a lifestyle location.

Ben: Yeah terrific. And then we go to Adelaide. We are starting to see a bit of a theme here in terms of access to jobs, CBD, greater amenity but also the beach story there and it’s a bit of that also for Perth. Bit of rinse and repeat for Perth. We’re talking about the beautiful coastline there so we can be closer to the beach where there is a bit more scarcity in the land there. And then also, getting into the job centre so coming back towards the CBD. So the proximity pieces where you get all of those amenities together is what gonna drive those demand in those better areas.

Alison: Keeping in mind, the more the proximity to those things is also going to cost you more.

Ben: They do.

Alison: So how much can you afford is going to be an issue.

Bryce: Yes exactly! Some people can’t do more, can they?

Alison: Alright gentlemen, thanks for joining us this morning and thanks to those tips.

Boys: It’s a pleasure, thank you.

 

And there are heaps of other free resources on our website. We update them every week so make sure you check them out before you go. 🙂

Any questions or suggestions for new topics? Just send them in to [email protected] or fill in the form below and we’ll chat about it at our future Q&A episodes.

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