The Property Couch

Normally personal stories about money stay secret…  up until this episode! The truth is folks — it’s not really the “done” thing to have a conversation about money, is it? Almost always, there’s this societal expectation to throw money matters — the real truth of your financial situation— off the table and bury it in the overflowing junk drawer. After all, talking about money is embarrassing, right? Well… not anymore!! Today folks, we’re attempting to lead by example — so we’re simply going for it! We’re going to get real and vulnerable and we’re going to share with you OUR OWN that have shaped our relationship and habits with money. In other words: we’re going to reveal what’s really happened in our life up until now (yep, this includes revealing some childhood influences), which might explain why we’re so obsessed with finance and on a two-man-and-a-couch crusade to help others excel in managing their own money! So, yep. These stories include the good, the bad and plain embarrassing. Ready to start the money conversation?   A glimpse into our embarrassing true stories… * Why are we so obsessed with money management? * What did Ben’s dad teach him that stuck with him for life? * What did Bryce learn from working in casino that you wouldn’t expect? * How was our path towards property investing shaped? * Who took the biggest risks when investing in property — Ben or Bryce? * How can you make money from a side hustle? * What did Ben’s parents give him for Christmas that changed everything? * Are there any smart money management tips in all this? * Who lost, and why did they lose money in property? * What are the key money management takeaways from this episode?   And make sure you download your FREE CHAPTER of our latest book, Make Money Simple Again for more tips and money management hacks! FREE CHAPTER of Make Money Simple Again – RRP $29.95 ———- >  Click here to download or just fill in the form below and we’ll email it to you right away!        

Hello folks, as promised, we’ll be posting Ben’s short commentary on the RBA Cash Rate Decision on a regular basis! Let us know if you like this segment below!

“Labor risks $12bn housing hit over ending negative gearing” — if you’re like us folks… this headline has us all concerned!! And the concern didn’t stop at the headline. As we read on, the full news article, published by The Australian on the weekend, highlighted that the $32 billion plan to end negative gearing would — quote — lead to a fall in new housing construction of up to 42,000 dwellings over five years and 32,000 fewer jobs across the country, according to independent modelling — end quote. Yep… that’s a drop in a whole lot of new housing construction (ie. supply) AND just a-bit-more-than-a-few losses (up to 32,000) in jobs!! Folks… this is crazy stuff. And those stats aren’t the only ones coming out of recent independent research digging into the numbers of what’s likely to happen if negative gearing’s ditched. So, today we’re looking at a few of the worst-case scenarios from two different reports (the links to both of these are further down in the show notes) and unpacking — with both a short term and long term view — how this change to negative gearing might affect the property market and those investing in it. But negative gearing changes — and the possible consequences on housing prices and for first home buyers — isn’t the only question we’re answering today! We’ve got plenty of gold on how to time your exist strategy, retiring debt and the right asset to invest in!   Oh, and if you’d like the Geospatial Heat Notes — the heat map that shows the Compounding Annual Growth in Median Value for Houses from 1974 till the end of 2017 that is sourced from the Valuer General data —  you can get them here.   Back to today’s Q’s… Question about Negative Gearing Changes from Shadi: Hey Bryce and Ben. Thank you for all the information and for all the podcasts you provide. Apologies in advance if this question has been answered in previous episodes. I’ve been binging myself since episode 1 a few months ago, and am not quite up to date yet. I just have a question specifically about the abolishment of negative gearing and the impact it will have on first time investors. I’ve been looking to invest since listening to your podcast, and am interested to hear how this will affect my first purchase — whether or not it will just be a short term problem that effects cash flow or if it will have a long term effect, especially when entering the market.   Question about Your Exit Strategy from Anne-Marie: Hi guys, this is Anne-Marie in Victoria. I’m 56 and my husband is 51. I started listening to you many years ago after we had our 7 properties. Our last property was 3 years ago. There all on fixed term interest only, which makes no offset available to them. And we’ve paid off our home, which is worth 1.1 million (1 of the 7 properties). It takes us $13,000 a year to hold all the properties, we just put our tax in, which is amazing. So property has done really well for us, and the mortgage we have on all of them is about 2.5 million, with domain value being low sitting at $3.9 mill, and high $5.2 with middle there all about 4.6 million.

Folks, no doubt you’re aware there’s been a shift in the property market. House prices have dropped. This weekend’s Auction Clearance Rates here in Melbourne were below 50%. So it’s obvious that Sydney and Melbourne have come off their peak. And back in Episode 66 (over 2 years ago now), we warned you that Winter was Coming… Well, let’s just say “Winter is Here”. So where’s the good news? And what is a Property Balloon?  Today we’re going to go “up in clouds” to see the 30,000ft view of the marketplace. We’re going to flashback to the last boom and show you what went down. We’re going to tell you how the correction’s playing out on the demand side and the supply side. And we’re going to share with you The Big Switch. So if you’re interested in the minor issues, the headwinds and the potential solution for the current property market… we’ve got over an hour of gold coming your way!   Folks, if think your cash flow story might need improving, don’t forget to take advantage of our free Money S.M.A.R.T.S Platform! And, don’t forget our loyal listeners are able to Get 20% off our new book – Make Money Simple Again 

Folks, have you ever wanted to trap surplus cash and have more money? If you want to get your hands on the tips to do exactly this, then this is the episode for you! Because coming your way right now are the 7 Tips to Trap Surplus Cash! Did you know: this will take us to over 100 money management tips! ‘Cos there are 95 tips in our book, Make Money Simple Again

Folks, we’re on the back end of a great — but late — night!!! And we come with some equally crazy news!!! Because after the success of last night’s Sold Out Live Webinar… we’ve decided to pick the sleep from of our eyes, and do a ONE-TIME only Encore Webinar

Before we get into unpacking the recently produced PIPA Sentiment Survey (download here)…. Let’s play a game, folks! It’s kinda like Charades… except we don’t act out anything. Or sing. Or draw. Or dance. Actually, all we do is tell you the exact words… BUT we say these words slowly, so it’s still really exciting! Okay, ready? First word: Money. Second word: SMARTS. Third word: Platform!!!!   Yep. It’s finally happened folks! THE PROPERTY COUCH HAS ITS OWN MONEY SMARTS PLATFORM — and it’s Live. Yep. It’s THE Tech Platform. Yep. It’ll outperform any “Money Hack” or Money Management System out there (at least that’s what we think!) BUT you’ve got to listen to today’s episode to find out what we’re talking about. (Let’s be honest, you can just go directly here, but can you at least listen to a bit of today’s episode so we can tell you about it ourselves… we’ve been dying to tell you folks about this for AGES! (The Platform goes hand in glove with our book so that needed to be ready too, hence why we could only drop hints… up until now!)   Make YOUR Money Simple Again… The Property Couch Money S.M.A.R.T.S Platform (Yep, it’s FREE) or http://thepropertycouch.com.au/financialpeace Enter a nickname and an email address… it’s that simple to start. We really don’t want to pinch your details folks. We’re just two guys on a crusade to make Australians smarter money managers. The rest is up to you. EXCLUSIVE TPC LISTENER DISCOUNT CLICK HERE to get 20% off Make Money Simple Again (Coupon code: TPC20)   Before we jump into what you’ll get out of today’s ep… …. We’ve got ANOTHER WEBINAR COMING YOUR WAY! If you missed the announcement in last week’s episode, we thought we’d saturate today’s show notes with all of the huge announcements most dear to our heart! So, here it is again folks… FREE LIVE Masterclass: How to Build a Property Portfolio and Retire on $2K Per Week without having to renovate, re-develop or sacrifice your weekends! When: Wednesday, 10th October, 2018 Time: 8:00pm AEDT (Melbourne time) CLICK HERE to Register and/or Get Full Details   And finally one, before we get to the latest Property Investment Professionals of Australia (PIPA) Sentiment Survey… Are you an investment savvy mortgage broker looking to work for a passionate team in Sydney? If you are, we want to hear from you! Send in your resume and cover letter to info@thepropertycouch.com.au   Right, back to TODAY’S Hectic Episode:  * What’s all this about a tech platform that will outperform any “Money Hack”?? * How does it use our Money SMARTS System so you get maximum results? * Why does our platform make it possible to make money work for you why you sleep?

Spoiler Alert: we’re practically giving away our new book, folks! Because today we’re revealing the 7 Steps of managing your money… the exact steps that we reveal in our brand new book (coming out next week), Make Money Simple Again! And why would we give away the gold hidden in a book that’s not even hit the shelf yet? Simple. We want every Australian to be a smarter money manager — and with sky-rocketing credit-card debt levels in the country, we don’t think this is currently happening. So if you want to be a better money manager, or if you want your money to work harder for you, or if you’ve found yourself in a debt cycle you’re struggling to get out of, then today’s episode is exactly what you need!   Want a copy of our brand new book? CLICK HERE to order one – Make Money Simple Again!   Before we jump straight in, we also give you the latest news from Property Investors Council of Australia (PICA) — specifically how the recent meeting about the Victorian Residential Tenancy Changes went! If you want to get your hands on PICA’s presentation and deck slides from the evening, join PICA for $5 and you will be eligible to get them for free!   But that’s not it… guess what else we announce in today’s show?   We’re throwing another Free Live Webinar — How to Build a Property Portfolio and retire on $2k per week without having to renovate, re-develop or sacrifice your weekends! CLICK HERE to Secure Your Free Seat (limited seats available) 8:00PM AEDT Wednesday, 10th October 2018   Folks, it’s true — we’re holding a brand new Live Masterclass for you! You’ll learn the 3 Secrets to build a property portfolio and retire on 2K per week… Secret #1 How to Retire on $2,000 per week as a passive investor with 5 properties or less Secret #2 How to Grow a multi-million dollar property portfolio without sacrificing the monthly budget Secret #3 Whoever buys the RIGHT property ensures they DON’T have to worry about negative market noise. So again, reserve your seat before it sells out!   And lastly, if you’re an experienced Mortgage Broker or someone who’s passionate with loan strategy and loan structure, then we want to hear from you! >> Click here to learn more about our vacancies.   TODAY’S GOLD: * What are the 7 Steps to manage your money like a pro? * Which steps go in “Ready” and “Set” and “Go?” * How can you stop the money slippage? * How is it possible that this system only 10 minutes a month? * What’s the number one fundamental principle you need to know? * Why is banking structure crucial? * How long should your “float” be? * What day should you pay yourself? * What is “discretionary” and “essential” spending? * How can groceries be both discretionary and essential? * What’s the number #1 mistake you can make with money? * What can you learn from our different case studies?

If you’ve heard the latest media reports, folks, you might have reason to believe the property market is all bricks and slaughter… but is that really the case? Today on the Couch, we’re addressing media alarmists — the recent noise shouting out alarm that they’ll be a total housing crash in Australia! So… is there any truth to the gloom and doom? PLUS, we’re deep-diving into investing later in life and what this really looks like for people in their fifties, including the ramifications of investing in property can have on pension allowances. And, of course, Lenders Mortgage Insurance… let’s run the basics, and work out when too much is WAY too much! Before we kick off the Qs… guess what??   If you want the 30% discount on our new book Make Money Simple Again you need to join our waitlist BEFORE 11:59PM TOMORROW  (Friday 21st September 2018) Yes, this is a limited-time only discount, folks! >> CLICK HERE to Get 30% Discount of our New Book   And before we jump into the questions, here are some recommendations from Stiggy to help you go through this episode: * Winter is here! If you’re worried about the recent media attention on the market, go back to Episode 66 (Winter is coming and the air will be colder up high) to find out what properties we think would be affected first. And of course, while you’re on the trip down memory lane, don’t miss out Ep 37 on all thing Scarcity. * Do you want the recording from on the VIC Residential Tenancies Act Amendments? PICA will be sending out the slides AND the replay to their members next week. Not a member yet? Click here to join. * (Spoiler Alert) And finally… Here’s the link to the Granny Flat that we’ve chat about on today’s show. Make sure you consult a qualified and experienced Financial Planner before making any investment decisions folks!

Folks, today we’re tackling your questions around some tough topics! Because chances are, you’ve heard about the amendments that’ve recently been passed on Victoria’s Residential Tenancies Act — laws that allow tenants to keep pets and make ‘minor’ modifications to the property, regardless of the landlord’s wishes. So we’re going to give our take on this, as well as take a deep dive on “Legoland” and whether or not these properties are worth considering if they’re sitting in a good location. Plus a certain Donald Trump gets a mention, as does the interest rate rise we’ve seen from the big banks right here on our home turf! And why the tough topics now? Well folks, it’s pretty simple… we’ve sweated out our brand new book, Make Money Simple Again (Get 30% off here), and now that it’s off to the printers… we’re ready to take on some of your other challenges!   Before we kick it off, just a shout out that PICA’S holding a limited-seating event on Tuesday 18th September at 6pm — to discuss on the amendments to the Victorian Residential Tenancy Act… This is an exclusive event (only 60 seats available) with Yvonne Martin and will take place at Madgwicks Lawyers, Level 6, 140 William Street, Melbourne. Register Here: PICA – Changes to the Residential Tenancies Act   And yes, WE FINALLY FINISHED OUR BOOK, Make Money Simple Again!!! Get 30% OFF IF YOU JOIN THE WAITLIST (AND get it before anyone else!) CLICK HERE TO GET THE DETAILS: Make Money Simple Again   But back to the tricky Q & A….   Question — Chris on Tenancy Changes I’m disappointed at your quick video overview regarding proposed rental tenancy changes in Victoria. I have no problem with most of the suggested changes but, how can you not be alarmed at tenants being given the right to have pets and make modifications deemed ‘minor’ – whatever that means? We are not just talking about picture hooks here! After investigating further, this may include security measures and air conditioning! Who pays for these? You flippantly dismiss the pet comment with a remark about ’tiles’. Are you serious??? What about carpets and polished floorboards taking a pounding from pets’ claws and their excrement! I will tell you from experience that any sort of steam cleaning and fumigating of carpets etc….even at the tenant’s expense is not the answer. I’ve had to on at least two occasions (where both urine and faecal matter was so prevalent) had no choice, but to change the carpets! Forget the floorboards – too damn expensive to re-sand and polish!  Please tell me that these abovementioned points are also concerns for you?   SpeakPipe Question – Emma on Rate Statement showing a Decline I have a 2 bedroom, 2 bathroom, 1 car spot investment apartment in Maribyrnong. I’ve just noticed on my new rate statement that the Capital Improved Value and the Site Value have decreased. It is a long term investment, should I be worried?

You heard that correctly, folks! Renovating and Dating. YEP… turns out they’ve got something in common! And to be honest — if it wasn’t for today’s guest, we probably wouldn’t have clued onto this comparison on our own. But, yep, you betcha… she’s definitely onto something! Joining us on The Couch today is none other than Naomi Findlay, Australia’s Rapid Renovation Expert. And not only is Naomi the Principal and Founder of the International Institute of Home Staging, author of the best-selling book Ignite Your Property Mojo, but also she’s the host of digital TV Series The Reno Show and Location Lifestyle Living! PLUS (and this is where it gets even more interesting), she’s the creator of Rapid Reno Mate — the new app that’s made especially for renovators! So, let’s just say — when it comes to renovating for profit, Naomi’s all over it. Before we dive straight in and reveal the exact reason why renovating is just like dating… … We’ve got some HUGE news for you!!   Our brand new book — Make Money Simple Again — is out THIS OCTOBER 2018!!! >> Join The Waitlist Now (and get a surprise bonus!) Yep, if you want to grab a copy of Make Money Simple Again before anyone else, hit up our waitlist and we’ll make sure it’s yours at the same time hits the shelves!! And, just to sweeten the deal EVEN MORE, we’re throwing in a free surprise bonus for our TPC Tribe Members who join the waitlist. Now we’ve got other announcements as well but because we’re running out of space, we’ll do this in bullet points (who doesn’t like bullet points?!): * PIPA Survey is expiring tomorrow, 5 pm, Friday, 7th Sept. If you haven’t it, we’re asking you a favor. Your input makes a difference so please complete it here! * Don’t forget to check out our appearance on the Today Show — 5 Tips to Get an Investment Property. You can watch it here! * The Sydney Property Buyer Expo 2018 start tomorrow as well! We’ve got two jam-packed session: * Saturday, 10 AM – Special Length Masterclass – Ben and Bryce with Special Guest to talk about Buying your First Home / Investing in your First Property * Sunday, 1 PM – Ben on How to Achieve Financial Piece with 5 Properties or less! So if you’re around town, please do come and say hi! Always love to chat with a fellow coucher and ticket’s on us too. Just click here and use this code: COUCH That aside, let’s get back to Renovating/Dating!!   What’s to learn today? * Why did a doctor get into renovating? * Is it all just about flipping property? * What’s the ONE thing you need to know BEFORE you even touch a property?

Folks, let’s just come right out and say it… getting a Building and Pest Inspection is very, very important if you’re going to buy a property. So much so that we’d go as far as to use the word “vital”. Yep, this is true for both homeowners and investors!! So, we think it’s in your BEST interests to listen to what today’s guest, Andrew-Mackie Smith, Principal Consultant of BuildingPro (Building and Pest Reports) and author of Building Success: Why Property Investors Need Building Inspections has to say about it. Here’s why he’s the guest qualified to give you these tips: * He’s personally carried out over 12,500 Building and Pest Inspections * He’s qualifications are legendary — Andrew is a licensed builder, building inspector, pest inspector and holds qualifications as a building surveyor, scaffolding inspector, timber stores greater, real estate agent and pest manager * He’s a sought-after speaker to provide expert advice, specifically (but not exclusively) aimed at helping property investors. We’re absolutely sure you’ll get a bag full of golden nuggets to take away from this one folks!!!   Oh, and guess what, folks?? It’s that time of the year! Property Investment Professionals of Australia (PIPA) would like your input in this year’s Property Investor Sentiment Survey! It should take less than 10 minutes to complete, and your feedback is really important to reveal the mood, confidence and key trends underlying the Australian property investment market (yep, that also includes your thoughts on the current lending environment). Complete PIPA’s Survey Now >>   And before we jump into what you’ll learn from Andrew Mackie-Smith, just a quick shout out to a few free resources: * Data Dive! Click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns and we’ll send it to your email right away. * Pre-Building Checklist – Click here to fill it in * We’re coming to Sydney’s Property Buyer Expo next weekend (7 – 9 September 2018)! BOOK your free ticket here and use this discount code: COUCH Similar to Melbourne’s Expo, we’ll be presenting a First Home Buyer/First Time Investor MASTERCLASS Live!! When: 10 AM SATURDAY 8th of September Where: International Convention Centre, Sydney Cost: FREE for TPC Listeners! PLUS, Ben’s also doing his own presentation on Sunday @ 1:00PM – How to Achieve Financial Peace with 5 Properties or Less! Join us there!   Back to today’s show. Here’s what you’ll learn: * What’s Andrew’s 3 Steps of Building Success? * When should you conduct a building and pest inspection? * What do you need to do after you get a building and pest inspection? * What do you need to look for in a building inspector?

“The people’s podcast” is EXACTLY that today folks! Because here’s the deal… it’s full-on, gold-packed Q & A Day!! And we’re diving headfirst into… * Offset accounts —is it a good idea to have multiple offset accounts? And should you offset your highest loan or the oldest loan? * Investing in outer suburbs versus inner suburbs * The step-by-step process of buying an investment property * Buying a home (PPOR) versus an investment property (IP) * Lending — should you pay down the principle of an investment property when interest rates are low? * Why should you join PICA? * TWO amazing LifeHacks from our community! Oh folks, we don’t want to pick favourites — but even we’ll admit it — these are some solid questions from our listeners! From start (Mindset Minute) to “Knowledge is empowering, but only if you act on it”… this episode is ALL YOURS! Before we jump into the questions, click here to download Ben’s Data Dive on Better Price Point, Better Location and Better Returns or fill in the form below and we’ll send it to your email right away.   Questions from Kyrillos: * If you’re purchasing more than 1 property, can you get more than one offset account? And if so do you split all the cash between them, or is it wiser to pour in all the cash in the offset against a larger loan? * To do with LocationScore — I’ve gone through and created a Spreadsheet of all of the suburbs within 50km of Brisbane’s CBD and found that most of the better-scored suburbs are actually quite far, in terms of the asset selection criteria you guys talk about. I understand that LocationScore is more of a demand versus supply score, so if you’re a Buy and Hold investor, at a suburb level, is buying in a better location still the better option? * Would you be able to run through the process of buying a property? Could you run through a quick, step by step process of what happens when (research, when should you get building and pest inspection etc)? Note 1: Looking for the link to join the Property Investors Council of Australia (PICA)? Learn more about their membership here! Note 2: Keen to watch Ben’s Data Dive on Better Price Point, Better Location and Better Returns on Investment? Just click here or fill in the form below to get access to it.   Question from Cam: My partner and I are wanting to buy 1st home. We are 27 years old, have $100,000 saved and are in our 3rd year of full time employment with a combined income of $150K. Should we be stretching ourselves to buy in the area we love FIRST, or should we be buying an investment property and hope to build equity and use it to purchase our Principal Place of Residence down the track?   Question from Sonya: Hi guys, love the podcast. There’s a lot of talk out there about the risk of Australians switching from Interest Only to Principal and Interest loans. I’m currently paying Interest Only, with no interest to refinance as I am starting up m...

Attention! Baby Boomers, Gen XYZ,  Alpha and everyone else — yep, that’s probably you — we have THE episode that just might teach you a thing or two about your generation, your next door neighbour’s generation, AND the next “smashed avocado” to take Australia by storm! What are we talking about? Folks, making himself comfortable on the couch today is Mark McCrindle, founder and Principle of McCrindle Research, and an award-winning social researcher, best-selling author, influential thought leader, and, wait for it… a demographer! This is one topic that made all of us on the show super excited because as a demographer, Mark tracks emerging issues, researches social trends and sets the stage for Australia’s population — which is VERY handy if you want to know where the future’s heading, and why. Plus, he’s also the author of best-selling book, The ABC of XYZ, which opens the “can of worms” on each generation, their values and shares the story of a country centred on “the fair go”. So, aside from learning the story behind the data, you’re about to hear all about Australia’s people, and our insights into property, retirement and wealth creation! Oh, and Mark’s brought in his latest infographics and insight and everything — you can get all of them here — so get ready for a knowledge-packed episode! His team’s research into Australians living a successful life is one that you can’t miss as well! Just click here to download or fill in the form below and we’ll send it all to your email.

Folks, today we’re unpacking the FIVE PROPERTY INVESTMENT RULES that will turn the media headlines on their heads and help you succeed as a property investor in a changing market! Let’s just come straight out and say it: there is an opportunity in the market RIGHT NOW. No ifs, no buts, no “doom and gloom” about it. So, what do you need to do to ensure your investment’s safely backed and bound to get you a return? Simple. Listen to this episode. Implement these 5 rules. And see why the richest and most respected businessman, Warren Buffet, said exactly this… “Invest when others are fearful, and be fearful when others are greedy.” Before we jump in and tell you what nuggets of gold you’ll learn today, just a reminder… Our Free LIVE Webinar, 7 Deadly Sins of Building a Property Portfolio, is happening TONIGHT at 7:30pm (AEST)!! CLICK HERE to grab the last tickets. Folks, we promise this Free Live Webinar will help you build a successful property portfolio AND help you avoid and overcome the hidden habits that you might not realise are undermining your success! We’ve only got a very limited number of seats left though, so please reserve your spot before it sells out.   And here’s what you can expect from today’s show… * What do you need to know about markets within markets? * Which areas in Australia are actually going UP in value? * What quartile of the property market should you be buying in? * Is now the right time to invest in property in Australia? * Why are we buying at a low price point at the moment? * In a changing market, what’s more important than ever before? * When should you buy you’re next property? * Why should you release equity now? * Why is lending structure vital to property investor? * How do you always ensure that there’s always demand for your property? * What can you do to decrease your fear when the market cycle changes? * Does a “debt servicing debt” strategy work in a changing market? * How can you protect your property portfolio? * Is your superannuation enough to protect you? And finally, looking to check out our very first appearance on the Today Show as The Property Couch host? The clip’s below or you can also watch it here. Enjoy!