EPI 118 | Five big investing mistakes

Everyday property investing - podcast episode

EPI 118 | Five big investing mistakes 

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What’s news

  • Cate Bakos on auctions, lenders tightening the purse strings, pre-approvals
  • Kaz on making offers for herself

 

Feature – Big investing mistake

 

 

CATE: Five big investing mistakes

  1. Ignoring the TITLE TYPE
  2. Overlooking the limited scarcity value of a property
  3. Favouring brick over weatherboard for the wrong reasons
  4. Bringing Feng Shui into decision making.
  5. Believing agent’s underquoted price tags

KAZ: Five big investing mistakes

  1. Units
  2. Flooding
  3. Maintenance nightmares
  4. Housing styles bias
  5. Small blocks in outer suburbs, transport/facilities wilderness (deep suburbia)

 

Quick tip and action

  • Review the mistakes that Cate and I have covered off
  • Are you making of these mistakes?
  • Review your criteria for a good investment property and rid yourself of any ‘personal bias’ in your decision making, hopefully focus in on what makes a good investment

 

 

EPI 117 | What are your barriers to buying?

Everyday property investing - podcast episode

EPI 117 | What are your barriers to buying?

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What’s news

  • Lisa Parker on securing your site when you’re undertaking a renovation project
  • Kaz on being festive!

 

Feature – Barriers to buying

 

  • Waiting for something better to come along
  • Identifying insignificant reasons
  • Analysis paralysis
  • Not seeing enough to make decision
  • Thinking it’s not a good time to buy – always
  • Unrealistic expectations of market
  • Unrealistic expectations of your budget
  • Psychological price points

 

Quick tip and action

  • Have a think about where you are at in terms of making your next purchase, whether it’s your first purchase or not.  
  • What’s holding you back?  Perhaps it’s money and you’re not quite ready to buy but perhaps it’s something else – are you busy and not really paying attention and perhaps you already have the money or equity available to buy?  I think this one is me at the moment!
  • Or perhaps there’s something else holding you back?  Maybe you heard a little bit of yourself in our discussion today!
  • Your mission – if you choose to accept – is to assess where you are at and make a commitment to a timeframe for buying and a list of actions you need to do beforehand and then get to it!

EPI 116 | Top Capital Growth drivers

Everyday property investing - podcast episode

EPI 116 | Top Capital Growth drivers

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What’s news

  • Buying at Christmas time–is it a good idea?
  • What are the pros and cons of buying during the holiday period?

 

Feature – Capital Growth drivers

Capital Growth

people-feet-train-travelling

  • Kaz and Melbourne Buyers Agent Lisa Parker compared notes on what they think are the top capital growth drivers. The following made it to their list:
    • Demand/Supply
    • Population Growth
    • Transport
    • Facilities and Services, Infrastructure projects
    • Income
    • Surrounding suburb activity
    • Water
    • Schools
    • Proximity to cbd
    • Backing onto parks, creeks, walkways (depending on where you live!)
    • Family friendly areas
    • Character homes

Quick tip and action

  • Using the list of capital growth drivers, choose a city and a likely budget that you would buy in and identify a list of 3-5 suburbs that you think would fit the bill of a good growth location.
  • It’s a good exercise to get you thinking and who know, perhaps this is the list of your next investment property location?

EPI 115 | The Journey with buyer’s agent Cate Bakos

Everyday property investing - podcast episode

EPI 115 | The Journey with Buyer’s Agent Cate Bakos

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What’s news

  • A quick chat with Melbourne Buyer’s Agent Lisa Parker about auctions
  • Kaz talks about when to pay asking price

 

Feature – Melbourne Buyer’s Advocate Cate Bakos

 

  • Cate’s investing journey for herself and helping others
  • Her 4 tips for those who want to get started:
    • Chat with a broker who knows his/her stuff and will tell you about your borrowing capacity
    • Think what you want out of property investing
    • Subscribe to a property investing magazine you’ll enjoy reading
    • Don’t be too scared and procrastinate into not doing something
  • Cate Bakos Property

Quick tip and action

  • Look back at your investing journey and assess the learnings and mistakes you’ve encountered, where have you been and where you are headed

  • Take the time to acknowledge that you are progressing–or if you haven’t started, why not start now?

EPI 114 | Bookkeeping requirements for property investors

Everyday property investing - podcast episode

EPI 114 | Bookkeeping requirements for property investors

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What’s news

  • Cate Bakos (Cate Bakos Property) on the current market conditions in Melbourne
  • Entry level points for Units and Houses in Melbourne

 

Feature – Bookkeeping requirements and how to do it properly

In our feature segment today we talk to Penny Buchanan of The Property Investor’s Bookkeeper to talk about:

 

  • How much holding a property is costing you
  • So you have an accounting software—now what?
  • Why it’s important NOT to wait until the end of financial year to have things in order
  • Understanding your financials
  • The Property Investor’s Bookkeeper

Quick tip and action

  • Take a look at your investment property bookkeeping systems—are they working for you? Are you collecting information and are you going about it the right way?

  • Use a spreadsheet, Xero or any bookkeeping system or any online tool related to property investing –whatever you use, make sure it is working for you!

EPI 113 | Tackling common property questions with Lisa Parker

Everyday property investing - podcast episode

EPI 113 | Tackling common property questions with Lisa Parker

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What’s news

  • Property reports and data
  • Dealing with a seller with unrealistic expectations

 

 

Feature – Common property questions

In our feature segment today we get Lisa Parker’s take on some of those common property questions we’ve chatted about recently:

 

  • Houses vs Units
  • Buy and Hold vs Quick turnover
  • Capital growth vs Cashflow
  • Inner city vs outer suburbs
  • Build vs buy established
  • Buy PPR first vs buy IP first

Quick tip and action

EPI 112 | Can a retirement village purchase really be an investment?

Everyday property investing - podcast episode

EPI 112 | Can a retirement village purchase really be an investment?

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What’s news

  • Buyer’s Agent Lisa Parker talks about the Melbourne market whilst Kaz shares about cyber stalking a seller regarding pre-settlement cleanliness of the house

 

 

Feature – Richard Andrews, leading expert in retirement villages

 

Richard Andrews – leading expert in retirement villages
Book: Don’t buy your retirement home without me
Website: RetirementVillageAdvice.com.au OR FindMyRetirementHome.com.au

  • What is a retirement village?
  • Types of retirement villages
  • How the loan/lease and loan/licence arrangement work
  • What other fees and charges are there?
  • How different is buying a unit in a retirement village to buying a standard freehold or strata-titled property?
  • How is a retirement village different to aged care?
  • What kind of accommodation do you find in villages?
  • Top tips for someone considering a retirement village
  • How would I invest in a retirement village?

 

Quick tip and action

  • Your existing properties and property management information
  • Some people use spreadsheets, some use software systems
  • Have somewhere that you record quick reference information about your properties – address, current value, loan value, current rental amount, management details – contact details.

EPI 111 | Find your ‘why’ and joint ventures with Matt Jones

Everyday property investing - podcast episode

EPI 111 | Find your ‘why’ and joint ventures with Matt Jones

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What’s news

  • Melbourne Buyer Agent Lisa Parker climbing off her sick bed to speak to Kaz! Kaz in the midst of a backup contract saga.

 

 

Feature – Finding your ‘why’ and Joint Ventures with Matt Jones

 

 

Quick tip and action

  • Take a moment to think about your why.
  • Why do you want to invest in property, what is your motivation?
  • This is a good exercise to do along with your goal setting.  Goals are good but they are often not the reason that keeps you going
  • As we heard in our interview with Matt, you can make amazing things happen in your life if you have a strong why, you set some goals and you take action.

EPI110 | Beware the property spruiker

Everyday property investing - podcast episode

EPI110 | Beware the property spruiker

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What’s news

real estate of the year
  • Kaz and Melbourne buyers agent Lisa Parker talk about agent awards process, Property Zest moving to a new shop

 

 

Feature – Property Spruikers

salesman preparing for a pitch

 

  • Are all property educators spruikers?
  • What is a spruiker?
  • How to choose a property educator/property mentor
  • What to look out for when choosing
  • How much should you pay for education
  • Where to find education
  • What questions should they ask/DD should they do
  • What licenses or qualifications should an educator hold
  • How do you know if you are getting the right advice?

 

Quick tip and action

share this episode
  • Look at the advisors or people around you, team – what drives them, how are they paid, are they looking at your best interests
  • Share this episode with your friends or family who may be looking into property schemes, seminars, education…

EPI 109 | Tackling common property questions with Nhan Nguyen

Everyday property investing - podcast episode

EPI 109 | Tackling common property questions with Nhan Nguyen

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What’s news

  • Kaz and Melbourne buyers agent Lisa Parker talk about proposed changes to negative gearing 

 

 

Feature – Tackling Age-old property questions


Nhan Nguyen tackles common property questions:

  • Houses vs Units
  • Buy and Hold vs Quick turnover
  • Capital growth vs Cashflow
  • Inner city vs outer suburbs
  • Build vs buy established
  • Buy PPR first vs buy IP first

 

Quick tip and action

  • Bearing in mind that your strategy evolves over time and also different types of properties are relevant for you at different points in time – have a think about where you sit on some of these questions.
  • Perhaps they aren’t all relevant to you but some will be – inner city vs outer suburban, build vs buy, units vs houses.
  • Maybe thinking through your rationale – is it logical, does it make sense
  • This sort of exercise is helpful if clarifying your investing strategy