Search Party Property: Recent Episodes
Search Party Property
Why would you sell an Investing Property? #187 I just sold a Property in Melbourne, at made $110k profit in 4 years - Sale price $293K 1. Property is at the Peak of the market - You’re thinking there is going to be a price decline 2. Look to move the money into other property or business 3. Watch out for the Capital Gains Tax - especially if you are doing multiple sales in 1 year To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Are you doing your Passion? #185 My Uber Drive does - Cars Deals & Sells them overseas - Big market in Scandinavia-car clubs His keys to success - 1. No car shows or advertised cars (Buy Wholesale) 2. Sticking to 1 strategy, simple formula - $120k sell, $70k buy + $15k Reno (at most) $30-50k profit 3. Understand cars, find faults in 20 mins looking under the car (Bumper dent - I hope nobody was killed) 4. Set up his team - staff in USA & Overseas - equally as passionate … Why retire, when you live what you do To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What can we learn from Flipping property LA Style? #183 Property Tour with Adam Halen in Los Angeles 1. Solving peoples problems 2. Working with a team 3. Making profits To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Why some see problems, others see opportunity? #182 After talking with a few LA locals… When people complain I hear - OPPORTUNITY 1. Issues with affordability, rent control, cost of living pressures 2. The mindset of how you want to live - do you accept it, dwell… OR move forward? 3. As investors, we are problem solvers To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Why would you use a Property Buyers Agent? #181 Our Aim is to help people retire in 10 years 1. Get discounted Properties that will be even more than the $8,800 fee we charge - because of relationships built over the past 9 years 2. Area and Property knowledge - What streets are better than others? Why does one deal work over others? 3. Your time - is your time better spent in your job or with your family? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Do you Escape from Property completely? #179 1. 1st photo - building site 2. Drawn to people and things associated with property (architecture drawings at SYD airport, finance talk, 2 guys at a cafe in LA) 3. I did - sample the local Korea Town food To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Do you allow for Escapism? #178
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During the day
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For extended periods
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Consistently to rejuvenate To discuss ideas.
Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
How do you work on yourself for better outcomes? #177 1. Being yourself 2. Letting go of your thoughts-Avoid overthink 3. Escape the daily grind - mix it up To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What value do you get from being with like-minded people? #176 1. Motivation 2. Ideas 3. Momentum 4. Education To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
How important is your Property Manager with Investing? #174 1. The selection of the tenant 2. Moulding the tenant to be proactive 3. Communications and Efficiency To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers
What do you need to be Self Aware about in Property? #172 1. Do you go it alone? It is cheaper, it’s easy to buy property 2. Looking for the Quick wins - focused on the Money 3. The relationships you make - does it feel right? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What are the little things some investors miss? #171 1. More affluent Buyers heading to Europe/USA for mid-year and year-end Holidays 2. Building relationships with agents will help with knowing if they want to move a property fast or slow 3. Getting those off-market deals, especially in a low listing environment To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Wanting to invest as little as $10,000 into Property? #169 1. Asking price: $5M. Offered $4M. Vendor Countered at $4.5M. 12 months passes. Vendor finally agrees to $4M price. (Vendor's bank Valuation which came in at $4.2M) 2. What are the reasons for this Caboolture Property provide capital growth? 3. How does the investment works, and How can people get involved? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Why are Costco and Buyers Agents the same? #168 1. Relationships with Agents (Suppliers) 2. Buying in Bulk 3. Ready qualified buyers To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Would you buy a unit that is less than 20 years old? #166 1. Opal Towers & Mascot Towers - ongoing issues & potential of decreased values 2. Outside Cladding fire risk on high rises units 3. Over supply of units - For Sale & For Rent (in some areas) To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
How do you get past the life and property issues? #164 You can also view the Facebook Live Video with Tony Meredith - 23 June 2019 (Luke Moroney - Facebook Page) 1. Why people know what to do, yet don’t do it 2. Focus on the solution, not the problem 3. Busy day, overwhelmed, What do I do? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
If you buy a Dud Property, how do you move forward? #163 1. Assess the property, the current market, the economy - do you hold or sell? 2. What are the lessons you have learnt, and/or is the Property market been poor? (Finance has been tight for everyone) 3. Do you have patience? What is the rush? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What’s happening in Melbourne outskirts? #162 1. Lower listing numbers, and lower buyer numbers 2. First Home Buyers - waiting for the Government Incentive - starting in 2020 3. Buyers handing back their deposits or looking to on-sell New Builds at lower price To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
There are big drops in New Build sales!! #161 1. Sales volumes fallen 30-70% for various developers in past 12 months (SMH article - Rob Freeman - Macquarie Equities) 2. Buyer Defaults are at 5%, well above average of 3% for Stockland? (SMH article) 3. Economy continue to looks weak, with thoughts of rate cuts or quantitative easing - suggested by Reserve Bank of Australia OPPORTUNITIES FOR BUYING ARE OUT THERE!! To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
As an investor, when you pay down debt? #160 1. What are your goals, vision, purpose & what are you comfortable with 2. Is there a ‘Best Practice’? (does one method fit all) 3. If you want to maximum your potential to grow, are you maximising the leverage? To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Are REA & Domain going to be phased out? #159 1. More use of Facebook, Instagram, and other social media platforms to sell 2. Higher cost to use REA & Domain (they might need to reduce their prices 3. There is a new site - Homes.com.au (looking to compete the Duopoly) To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Do you go Slow or Hard and Fast with your Property Investing? #158 1. Important to have self awareness - what can you cope with, what is your risk level 2. What is the state of the property markets and the economy 3. Are you looking for the quick wins - just for the money? (it is like the lotto win affect) To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Are you ’Trusting the Process’ in Property Investing? #157 (Discussions on Facebook Live Video with Tony Meredith) 1. Take one step at a time - Crawl, Walk, Run 2. Avoid comparing yourself to others 3. Keep the focus by creating habits for yourself To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What are the issues when building and renovating? #155 (Based on discussions with Tony Gallagher) 1. Preparation before starting - 3 by 3 approach 2. Network - Talk to others about what you are doing - Tell the world, and people are likely to offer help 3. Expert Help, Strong Communications, Constant inspections - keep the trades accountable and happy To discuss ideas. Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Do you analyse and over analyse Property Investing? #154 1. Education and know the market is important 2. Be careful of what the data is telling you - are there underlining stories, is the data manipulated by the author? 3. Almost all Property in Sydney grew by 50%+ if purchased in 2012. If you purchased well, you would have seen 70% growth To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What types of Insurance will help YOU? #152 1. Personal protection - Life and Trauma 2. Business or Employee 3. Property Investing (Cashflow and Growth if Assets) To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What issues are facing the Aussie Economy? #151 (According to Dr. Andrew Wilson) 1. Government Spending is lower 2. Dwelling investment down 3. No lift in consumer consumption (Positive - trade is in surplus - mostly due to Iron Ore, although it’s not creating too many jobs) To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
How to increase your wealth, when you have no cash? #150 1. Be a deal finder - offer to help other people or companies (become an intern) 2. Increase your income and reduce expenses 3. Look for money partners - don’t be scared to ask for money… we all borrow money! To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
How do you become a better investor (mentally)? #149 1. Focus on what you want, and what you’re willing to sacrifice 2. Communication with yourself and others 3. Work on facing and concurring your fears To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Lessons of Search Party Property-1 year in business? #148 1. We get to help so many people create their wealth - awesome to see multiple clients 2. So many challenges - the ups and downs are part of business and property 3. It is still a buyers market & the power of social media To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
When Sellers get it wrong, and Investors look for bargains! #147 1. Colourful paint of interior or exterior - and/or different colours used in each room of the house 2. Untidy yard 3. Styled and designed with personal taste in mind, which is likely to detract the majority of buyers - (e.g. having a skelton skull or having theme throughout the house) **On the flip side, if the property is well style, is neat, uncluttered - the seller is likely looking for a high price. To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Can conservative investors build a Property Portfolio? #145 1. Bring in Team members that will assist with the conservative ideas - dive a little deep in the reasons why you might be holding yourself back 2. It’s about taking one step at a time - avoid the overwhelm 3. If there is an increased motivation and desire to create wealth, you’re like to push through the conservative barrier To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What does Luke need to work on? #143 1. Give more value about Property for Investors and home buyers 2. Putting myself out there more and showing my unique difference 3. Prospecting for clients To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
What are the Global economic issues? #142 1. Trade wars between USA and others (China & Mexico… for the moment) 2. Bond Yields, and Junk Bond refinancing 3. Global interest rates low - people are looking for higher returns, and will take extra risk - which is inflating the share markets To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Are you hearing about more job losses? #141 1. Telstra is cutting 6000 jobs, and cuts in finance and property sector 2. Minimum wage increased, Will it help? There is no Wage growth. 3. With uncertainty brings opportunity!! To discuss ideas, Call Luke Moroney - 0400332377 - Search Party Property - Buyers Agents Sign up for our ‘Property Deal of the Week’ email (via our website) We have a referral program for those interested - DM me for info.
Are you putting yourself out there in your Property Investing? #140
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Taking that first step, and second - Asking questions, getting outside your comfort zone?
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Constantly talking with experts, experienced investors, and attending events
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Do you maintain the Property habit, or fall off - as many do?
Why the ATO’s aggression might be sign of a weakening economy!! #139 1. Worried that bad debts are going to increase, and looking to get the money now. There could be a sign for tougher economic times, and the ATO might be looking to avoid major debt issues - like during the Global Financial Crisis. 2. 2/3 of businesses have outstanding debts with the Australian Tax Office 3. Lots of people in Property industry have been affected - Construction, Real Estate Agents, Trades people, Sole Traders.
Are there issues with Rental Vacancy, and What do you do about it? #138 1. Oversupply in the unit market across many areas of the country 2. If people continue to move out of Sydney, more supply will come on the market - international immigration will help (assess every area) 3. You can Do to minimise issues - choose your investment wisely, have a good relationship with the tenant, keep it neat and tidy, repair and maintain.
Are you thinking about your future path in Property? #137
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Will help you think and focus on the journey to create - what strategy?
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Thinking about the future will help with think longterm - having patience over seeking out quick wins
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You start becoming or creating what you think about (where your focus goes, the energy flows)
Are you acting as the Queen Bee of your team? #136
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Looking for the right team members to work with
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Ultimately, you are the one that needs to do the work and make the decisions - (Nike - Just Do It… Take Action)
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Learn the lessons, if that means failing a different points, understand it is a lesson.
Tony Locantro suggests a 35% decline in Sydney Property! #135 (Minimum 35% drop in Sydney Property prices - peak to trough… And Recession to come - and we are technically in a per capita recession) 1. House and Land Packages - oversupply (Jordan Springs, Rouse Hill, Box Hill - being the centre of the Housing Bubble) - Bubbles don’t need a pin - Bubbles deflate from an exhaustion of buyers 2. Consumption is 58% of our economy, Millennials addicted to After Pay, unemployment to rise, and construction to slow. 3. The banking serviceability still an issue.
Are you hearing about hardship in the house and land package or off-the-plan unit markets? #134 1. Reports coming through from main-stream media (Channel 7 - Melbourne story)
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Lending and Bank Valuations have been tough for the past 2 years, and there is worry in the economy
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It might get a little easier for some of these people, with potential interest rate and lending changes
Why are relationships key to investing? #133
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Better deals
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Work with each other down the track
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Help with your growth personally & in wealth creation
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People are likely to feel more confident (no changes to Negative Gearing, Capital Gains Tax, Franking Credits, inheritance taxing). Consumer sentiment likely to improve
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We still have an issue with Lending - the ability to service a loan - with the tough requirements.
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Likely to see more listings hitting the market… more supply with limited demand will see prices stagnant or dip.
What do you need to watch out for?
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Renovators/Flippers are looking to make a quick buck
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Cheaper, less durable materials (USA - Home Depot example)
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Do your due diligence when buying - inspections, testimonials from builders clients, research the company and builders history
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What does Passion for Property mean? Living and breathing property - you would rather go to an open inspection than a footy game
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The more passionate you are, the more likely you will want - to do, to learn, to grow
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Passion isn’t a requirement, but ensure your team members are passionate about it
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Looking for quick wins might result in high risk and financial ruin
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What is the rush / enjoy the journey / is it about the learning or the money
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Often people’s financial issues come from holding the wealth rather than growing the wealth
Australian Bureau of Statistics figures are out, what does that mean for Property and our Economy? #125
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Lending down in March 3.7%, and 26% drop in 12 months
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Construction of new homes - down 20% from July 2017
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What will the election bring??
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Budget Management - Keep a close on your Income & Expenses constantly
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Look to invest in Low Risk strategies, with the potential for growth
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Portfolio Management, and avoid risking your entire wealth on 1 investment/business
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2 out of 3 businesses are struggling
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Business not fully aware of their Liabilities - tax, debts, super payments, paying staff
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Businesses need to have a 12-18 months tax plan in place Construction industry struggling Book Keepers getting the numbers wrong *Builders struggling with developments
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Persistence (through rejection)
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team will help you move faster
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Avoid comparing yourself to others (stay in your path)
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It’s important for a buyer to understand the experience of their adviser
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Helps with developing rapport, that you are upfront and transparent about what I’m doing
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Buyers will have understanding that we Practice what we preach.
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It may give people a little confidence to assess finances
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It may also worry people as they might feel the economy is struggling if the RBA drops rates
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Loan Servicing is still difficult, even if rates drop. Until they change servicing, it doesn’t matter what rates drop by.
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Important to look at the numbers - price, cashflow, cash buffers, risk, interest rates, etc
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Are investors considering their Gut feel on the property?
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When you have ‘Skin in the Game’ - you tend to learn a lot more
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The housing market in Sydney & Melbourne grew 60-70% between 2012-17 due to lots of Interest Only lending (were they irresponsible at first?)
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Are Australians Debt hungry? Are we more Spenders than savers?
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Is Property Investing going to create wealth for individuals? (there are people that lose in property)
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Auction clearance rates in the 60s%
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A feel that things will change after the election
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Unemployment is still low (around 5%)
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What do you need in your current circumstances? Is it your 1st, 2nd or 10th Property?
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Cashflow will get you by week to week, and Capital Growth will expedite your Wealth Creation
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What relationships are you building that will help with your strategy?
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Agents - to get the deals
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Other investors - motivating and learning from each other
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Team of Experts - be front of mind, and build rapport - potential Joint Ventures for the future (support each others businesses)
Are the banks crying poor… as profits have reduced
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Even if rates reduce, most people won’t be able to get loans at current serviceability requirements
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APRA may decide to ease back on the serviceability - by 0.5% with each move
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Was the hard-lining by APRA and the Royal Commission worthwhile… do we go back to easy lending?
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Global yields decline
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Reduced prices are capturing headlines (South Yarra sale $1m loss in 3 years)
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Retail per square metre prices trending lower
(Where there is an abundance of Property for sale) 1. Valuations are low 2. Serviceability is high 3. Oversupply of house and land packages Victoria, the country's biggest greenfield land market, is at the epicentre of the surge in defaults, with its cancellation rate hitting 27 per cent in the first quarter of the year, up from a 12 per cent default rate in the December 2018 quarter and just a 2 per cent fallover rate a year prior, according to land consultancy Research4. Alongside the surge in defaults, Research4 figures show that Melbourne lot sales tumbled to just 539 a month in the first quarter of the year, down from 2200 at the peak of the market in mid-2017. (Comments from AFR Article)
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It is best to narrow down your data to a specific area - as result can be quite varied
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How do you really trust the data that is out there… it is so varied and two reports will be vastly different
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During these 'tight lending times’ generalising on markets may not be too far from the truth (as lending is affecting all Australian Property Markets)
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Your Team is the most important part of your success - when buying interstate
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The ongoing management of the tenant and property is crucial, and remembering to communicate regularly
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It gets easier with every purchase - it’s like riding a bike for the 1st time
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Is it close to public transport, universities, etc?
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Do you need to spend money to set in up for Airbnb? Is the money better spent on other investments?
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Is it going interfere with your lifestyle, your family, or family events? Can you co-exist with 1, 2 or many others?
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High Cashflow Deals
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Granny Flat Sites
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Subdivision Sites (At this time of Tight Finance Conditions, investors will lower there risk and seek potential growth by buying and holding for at least 2 years)
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It is where most people in Australia want to live - Jobs, Beaches, Harbour
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Population increases
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Government policy could intervene - e.g. Rental Control
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On The Ground - people struggle to pay for their Car - Pink slip, as car needs repair
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Luxury car sales are down
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Consumer Price Index (Inflation) figures are flat for Quarter 1 of 2019
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Is there more power in buying multiple properties, over seeking the one perfect property
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The property might surprise you - capital growth might be extraordinary (as zoning or infrastructure changes might send prices vertical)
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Is it about the money, or about the life experiences? (Is it about the journey or the pot of gold at the end)
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It can open up conservation
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Lead to new work path
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Lead to joint ventures ***TELL YOUR STORY
- Declines in Sydney & Melbourne, small declines in other areas
- There are always opportunities - look for motivated sellers, off-market deals, or ways to add value to the deal
- Property is a Patience Game
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Important to buy really well, with the cost of renovations factored in
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You still want to be buying in growth markets, as the current Sydney & Melbourne declines might see you in negative territory
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The conservative approach is to Buy, Reno & Hold - be patient for long term growth (Check out my Facebook Live Video with Adam Mainey - 20/4/19)
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The agents know what you are about and what you want
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You get the better deals
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Having pre-qualified buyers that follow through with a purchase will continue to build the relationship (And How do you build the Property relationships - keep front of mind)
- Depends on your confidence levels, education, and confidence in your team
- Do the deals match your investment criteria? If not, what is missing?
- Taking Action - buy the property, and set yourself up for Property Deal #2
- Does the information they provide make sense or resonate with you? What are others saying about it?
- What are the reasons behind their forecasts, why are forecasts being changed?
- Do you feel there is any underlining agenda? (thoughts after reading an article in YIP Magazine - Alan Olster, NAB Chief Economists predictions on the Property Market)
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Loan numbers slowing down - NSW down 20%, and Investing at all time lows of 26% of overall lending
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Speed of loans slowing down sufficiently (why when they are writing less loans??)
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Interest Only loans were 60% of the market, now 19%
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50% Increase of people making online to buy in SE QLD (when searching out-of-their-area)
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Brisbane the highest portion - 21.5%, Gold Coast 15.3%
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2017 saw a Net Loss of 27,300 people leaving Sydney - similar trends from the past
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Preparation - I did the daily running prior, but there wasn’t a set program - food & drink scheduling wasn’t organised
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I was going to start at an easy pace, but the hype of the event meant I went out hard
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It is about TAKING ACTION… I completed the run, you might be completing a property deal - it doesn’t have to be perfect. JUST DO IT.
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The ability for someone to assess deals, look at the calculated risk, and TAKE ACTION
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To resilience when things get hard or don’t go your way
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The Mind will give in before the Body, as will the Mind will give in before financial recover (Sharing thoughts, as I prepare for my Marathon Run in Canberra)
Received Testimonials in the past 2 days from Ian (4 Properties in 4 months) & John (2 Properties in 3 months)
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You never know how business will turn out - just give it your all
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Inspiring and Motivating to get positive feedback
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Put in the hard work, and you can have an effect on others
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The knowledge and skills you can gain from investing are invaluable (working in teams, learning from the experts)
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It gets a lot easier with Deal #2
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Once you get Deal #2 - you might get the bug, get hooked??
Before you even get to the property you should check these! Flood affected Power lines Old mining area (ipswich region) Main road or Rail Odd shape block Sewer line Rubbish dump Bat colony Neighbours Slope of the block (things to avoid, or maybe the price is that good??)
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Rating Agency - Moodys is forecasting continue declines - due to Soft Household consumption & low wage growth
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An increase of Mortgagee in Possession Sales & Low Auction Clearance Rates
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No changes to tight lending conditions… Watch out for any changes!
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Small & Medium Business owners trying to use property value to get business loans
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Less transactions are starting to affect property employment
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Consumer sentiment .. is it affecting discretionary spending?
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What is the quality of the renovation, have they hidden some of the faults, are there further works to do?
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What is the story behind the renovation - was it a reno-flip, who did the works
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Price - Did the seller Reno & Flip, and looking to get maximum price - What are the comparable un-renovated prices in the area? - It might suit you buy renovated, as you are time poor
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Are people shopping online more?
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Are people spending at shopping centres?
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Are you seeing stores close? (e.g. 30 Big W stores to close) Unemployment Rate is still very low, will it change?
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What due diligence are you doing on the investment? Do the promises stack up?
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Are you looking to make a quick buck? Where is your current mindset leading you?
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Are you discussing the idea with experienced and successful people? 4. Is it worth taking legal action to recoup lost monies?
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Labor - Negative Gearing & Capital Gains changes to start 1/1/2020 and Liberal - it is likely to be steady as you go
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APRA relaxing interest only lending - with some lenders offering 10 years IO periods
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The servicing on loans is still high, which means that those that are cashed up can buy
(discussion based on the Liberal Party Federal budget on 2 April 2019)
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Good to see the Federal Accounts close to surplus - it is spending time
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Tax cuts will help will help lower income earners - spread over a number of years
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The massive increase to infrastructure spending - how will it help?
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Often the data is 3-6 months delay on being announced to market
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Being on the ground will give you a great sense on prices, number of buyers/sellers, auction frenzy or reductions
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Property goes up over 20 years (especially in capital cities) - Thinking about long term doesn’t mean you buy in declining markets
- Declines in Sydney & Melbourne of 4.1% in past 3 months, Sydney down 13.2% since July 2017, Melbourne catching Sydney in the declines
- Declines in lending, which has led to declines in transactions - down 20-22% in Sydney & Melbourne the last 12 moths, and down 40% from the 2015 peak
- Positives from the report - Immigration numbers remain high, and Interest rates are low
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Land lot sizes are decreases, the time spent at home seems to be decrease - will it suit future lifestyles?
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Will help with affordability, but will it bring other issues - overcrowding, community issues (or bring more connecting within communities)?
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Bank lending issues, which are normally for dwellings less than 50sqm
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Getting the reduction helps with getting that instant equity and reducing your investment risk
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In this tight lending market, getting the loan is a huge factor
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Will the $2k, $5k, $20k matter in 10 years time if the property goes up by $200k?
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If you did wait 3 years in Sydney from mid-2016, prices are cheaper now (it might be different for Home buyers VS investors)
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The election could be a game changer for Investors, especially in the next 12-18 months
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With a lot of people sitting back, there is less competition, better bargains
(After having a 1 hour discussion on Facebook Live Video with Pete Wargent) 1. Negatives - Labor Party on Negative Gearing and Capital Gains, Construction slowdown, Lower bank valuations for Off the Plan, Tighter Lending 2. Provides Opportunity for those looking to take it - if you can borrow, get moving 3. Positives - Population increases, Low unemployment 4. Why Pete and I both favour Brisbane for investing
- Changes in lending policy over the 4 years (initially around September 2015), especially back in mid-2017
- More people moving over to Principal & Interest rates, due to the discounts available, and Rates are the lowest in history
- Factors that might lead to increase mortgage defaults - increase unemployment, Australian Recession, Global Recession, Government intervention - Negative Gearing & Capital Gains changes
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There has been guidance of infrastructure spending
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People are waiting for the Federal Election result
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We still have tight lending conditions, affordability concerns, lower consumer confidence
- Are you experienced enough to do all the due diligence? -Thoughts about sound overlays - near a freeway, railway line, etc
- Are you paying Retail price, or getting a discount on price and/or contract terms
- Being on the ground each day leads to a lot of experience about streets, demographics, good and bad areas (Even for Luke after buying 19 properties in Brisbane, he would still have someone get a 2nd opinion - as he isn’t on the ground everyday)
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Times are changing, and are choosing to live on smaller blocks - less mowing - more after school care and less time at home - lots of team sports and group activities away from the home
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Affordability and availability of land - which is pushing up prices
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As adults, are we thinking about how we grew up - on the 1/4 acre blocks?
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Provide detailed information
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On the ground - under houses, relationships with agents and negotiations
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Great communication throughout