Bad advice Archives - The Property Couch

474 | From Childhood Stocks to City Shocks: How He Escaped Bad Investing Advice! – Chat with Bailey

By The Property Couch December 28, 2023 in Podcast, Property Investment, Summer Series

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It’s our final episode for the year and folks, we’ve saved one absolutely inspirational tale to finish 2023.

As a hint of what’s to come, Bailey – today’s articulate Summer Series guest – invested $500 into Westpac shares at the age of 10.

While this one action already sets him aside, Bailey isn’t special just because of his remarkable approach to investing but because of one skill that, as described by Ben, is “one of the greatest skills to learn in life”.

If that isn’t a cliffhanger folks, then we don’t know what is. 😉

Tune into this fascinating episode to find out what sets this 24-year-old apart from the rest, how he bought his first property at the young age of 21 and to hear the heart-warming reason why he decided to speak out and come onto the couch.

This guest has Ben and Bryce completely rapt. Seriously, give it a listen now folks 😊🌌✨

Free Stuff Mentioned

Struggling to stop and smell the roses? Check out the Moorr platform that Bailey used to help him do it! (This system automates Money SMARTS for you)
FREE BOOK!— Make Money Simple Again
FREE BOOK – The Armchair Guide To Property Investing
The Binge Guide – The First 20 Episodes

Timestamps

0:00 – From Childhood Stocks to City Shocks: How He Escaped Bad Investing Advice!
1:38 – Welcome Bailey!
2:21 – Growing up with a money-savvy mum
6:47 – How he started on his financial future from 10 years old!
10:39 – What sparked his love for investing?
12:16 – Bailey’s lifehack while his friends were at university
15:12 – What he did with all his savings 😲
17:41 – THIS is one of the biggest lessons in life…
21:03 – How did it feel when he bought his first property (You’d be surprised by his answer😉)
25:38 – He’s now stopping and smelling the roses – here’s how!
27:35 – Bailey’s paradigm shift
31:05 – Beware the enthusiastic amateur!
35:15 – These were the biggest lessons he learnt…
37:26 – Why it was actually good that he had a bad experience!
41:14 – His pathway to becoming borderless!
43:19 – Why is rent-vesting right for him?
46:28 – Bailey’s North Star ⭐
50:32 – What drove him to speak on the couch?
51:39 – The secret to goal setting
55:11 – How he’s navigating two extreme interest rate environments
58:21 – Thank you Bailey! What an articulate and inspirational person 😊
1:01:25 – Here’s a challenge to Bailey’s mates

166 | How to Avoid the 7 Common and Costly Settlement Mistakes when Buying a Property – Chat with Nicole Faid

By The Property Couch April 5, 2018 in Case Study, Podcast

Back by popular demand! We heard from today’s guest back on Episode 107, and joining us again is none other than Nicole Faid, Principal and Founder of Accord Conveyancing, who has handed out accurate legal advice for over 25 years of industry experience! Just a heads up — we covered her awesome back story in that episode, so if you want to hear it (and it’s well worth the listen), go back and check it out!

So — Conveyancing — let’s take the mystery out of it, folks! Because a lot of people out there don’t know what happens once the documents have been handed over to a Conveyancer, especially one like Nicole!

And we jump straight into it, folks! So get pumped for the 7 common & COSTLY mistakes you really DON’T want to make…

(If this episode doesn’t cement the fact that it’s crucial to get a contract review BEFORE you sign, very little will!)

So, let’s hear it. What exactly are you in for?

In a nutshell, what does a conveyancer do?
What is the most important document that underpins a contract?
How many people don’t get the amount of land they thought they would when purchasing a property?
What happens if the discrepancy of this land is less than 5%?
What REAL LIFE EXAMPLE happened in Brunswick? (And how much did this mistake cost the buyer?!)
Why shouldn’t you rely on your own interpretation of “wear and tear”?
Are “back to back settlements” a bad idea?
What happens with the conveyancing rules if you’re a borderless investor?
What is a “caveat”?
If you’re purchasing through a SMSF, what title requirements do you need to be aware of?
What can happen in the settlement period that will seriously shock you?
Why is it important to distinguish between major and minor issues with the settlement process?
When should you conduct a Building and Pest Inspection?
How does the art of negotiation fit into all this?
What is the best risk management?
What do you need to keep in mind with the final inspection?
What is the legal requirement about having a granny flat?!

… Yep, it’s a hairy and very serious episode folks, because the mistakes we talk about in this episode can be VERY EXPENSIVE!!

TODAY’S TEASER:

P.S Missed yesterday’s Facebook Live?

We answered a couple of questions on your lunchbreak (in 15 minutes)!

WATCH it here.

101 | Sand or Stone – 6 Critical Foundations Your Wealth Plan Should Be Built On

By The Property Couch February 2, 2017 in Podcast

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With a fresh start this week for The Property Couch after our much-anticipated 100^th episode last week, the energy definitely hasn’t dwindled as Episode 101 has Bryce and Ben discussing the six critical foundations to building your wealth plan. From the comfort of Ben’s home instead of the studio this week, (as not even an operation can delay an episode of TPC), the guys discuss foundations such as strategy, getting a mentor and building your tribe to name a few. Similar to a skyscraper or a mega size bridge, the foundations in which you build your property portfolio or even, your financial wealth plan on is crucial. However, it’s not an exciting process and can be mundane for some but do not underestimate how much difference it can make to the long-term performance of your wealth plan. Time is a commodity that you can’t afford to lose and if you find out later in life that your wealth plan isn’t going to work, it can potentially be too late.

Of course, the jokes and banter still continue on in this podcast, and with that in mind, we hope you enjoy this next instalment and the next step that The Property Couch is taking. To another 100 episodes!

P.S If anything, don’t miss this latest episode for the brand new sign-off at the end!

Free Resources mentioned in this episode:

Is your portfolio build on sand or stone? : Watch Here
Free tickets to the Melbourne Property Buyer Expo 2017 (Discount code: TPC2017) : Click here to get the tickets

And as always, if you like this episode (Sand or Stone – 6 Critical Foundations Your Wealth Plan Should Be Built On), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

100 | The Property Couch UNPACKED!

By The Property Couch January 26, 2017 in Podcast

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AND IT’S FINALLY HERE!!

Happy Australia Day and thank you to all you who had supported us for the past 99 episodes! It has been an incredible journey, and we are very grateful and amazed at how far we’ve come. This is just the beginning, and we promise you that for the next 100 episodes, we are definitely going bigger and better! With new segments, more case studies, guests interviews and innovative data research platform (spoiler alerts!), all we can say for now is, sit tight and buckle up for the ride. 😉

So to celebrate our 100th episode, we are ‘unpacking’ some of the tips and frameworks that we’ve chat about previously. Below are the links to the highlighted episodes:

Ep 86 (Does All Property Double In Value?): No man with an experience is ever at the mercy of a man with a theory.
Ep 18 (What is a Buyers Agent and Do You Need One?) : Your investment property is a Bricks and Mortar Bank Account
Ep 5 (Four Pillars of Mastery – Asset Selection) : 80% Location, 20% Property
Ep 24 (Seven Habits of Highly Effective Property Investors) : You won’t achieve Financial Freedom unless you take a step forward to make it happen.
Ep 99 (Q&A – Tips For Investing Late In Life, Selling Your Home, Fixing A Downward Portfolio Spiral and more) : Happiness comes from Big Rocks in the Jar.
Ep 62 (Does the Great Australian Dream still exist?) : You can outsource the implementation but don’t outsource the understanding.

Once again, thank you, and we look forward to the next 100! 🙂

PS: If you are planning to come to the Melbourne Property Buyer Expo 2017, make sure to use our discount code (TPC2017) for a free pass! Click here to get the tickets

And as always, if you like this episode (The Property Couch UNPACKED!), don’t forget to rate us on our iTunes channel (The Property Couch Podcast) and our Facebook page. Any questions or ideas? Feel free to drop us your thoughts here: http://tpcaustralia.wpengine.com/topics/

078 | Ten Biggest Risks when Investing in Property in Australia

By The Property Couch August 25, 2016 in Podcast, Q&A

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Investing in property is considered as a relatively safe investment class but as with other types of investments, there are some downfalls that you need to be aware of. So in this week’s podcast, Bryce Holdaway and Ben Kingsley will be sharing their ten biggest property investment risks.

They will be unpacking this list from a macro point of view such as factors that are beyond an investor’s control down to a micro level. Bryce and Ben will also be discussing some risk mitigation strategy that investors can apply when building their property portfolio.

The first macro risk is General Market and Economic Risks. Although each one of us contributes to the country’s performance as a whole, individually, we still can’t influence it much (unless of course, you are a multi-billionaire). So, if a country is performing poorly for example, during the GFC period, some property market would be affected, and this would impose some degree of risk if you are a property investor. Economic activities in a state level also could be a risk because this affects employment rate in the area and hence, your potential tenants as well the value of the investment property.

Listen to the podcast to find out the other 9 property investment risks.

Some of the resources mentioned in this podcast:

Webinar Replay with Jane Slack-Smith and Peter Koulizos – Register here
Facebook Live Chat (September 13) – Join here
Vote for us for the Reader’s Choice Award – Vote here
Episode 5 – Asset selection – Listen here
Episode 31 – Checklist to getting a great property manager – Listen here
Episode 53 – The Money SMARTS System – Listen here

Free Stuff Mentioned

Timestamps

AND IT’S FINALLY HERE!!

Instagram

Free Resources

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