Real Estate Right

Episode 43: David Johnston - Understanding The First Home Buyer Process

The first home buyer process can be overwhelming, as you know that you want to own your own home, but it feels so out of reach and, with the cost of living, the balance of socialising and the pressure from family, you feel that it's impossible to get ahead. Today we talk about what the best strategy is, to achieve your dreams. 

David Johnston is the Founder and Managing Director of Propertyplanning.com.au, which he started in 2004, and he's the Co-Host of the podcast thepropertyplannerbuyerandprofessor.com.au with Cate Bakos and Peter Koulizos, author of multiple books including: 'How To Succeed With Property To Create Your Ideal Lifestyle', which we will tell you how you can get a free copy of, at the end of this podcast, as well as 'Property For Life - Using Property To Plan Your Financial Future'. 

David and his team have pioneered property planning and mortgage strategy. They are passionate about educating and empowering professionals and families to create their own personalised property plan, mortgage strategy and money management system.

David also ran Australia's only university endorsed education course on property planning for ten years with university lecturer Peter Koulizos, and now infuses all the education into their personalised service.

He believes in fiercely independent advice and his company provides what he calls 'Pure Planning'. Property Planning Australia is the first company in Australia to produce independent property advice without earning fees from buying selling property, investments, insurance or super products. It truly is independent advice.

David, how old were you and how did you come to buy your first home?

1. Where should first home buyers start when thinking about buying a home?

   a). You suggest that you should start with the end in mind by developing your property plan? What do you mean by that?

   b). How important is it to determine 'Where you want to buy?' before deciding 'What to buy?'

2. What are some good strategies when it comes to saving?

   a). Why is mortgage strategy more important than the interest rate?

3. How long should the process take from starting to save to looking at buying?

4. How much should we save for the deposit?

   a). Should we be aiming for the family home, or something smaller as a first home?

   b). Is it really all about the long-term strategy?

5. If we have a savings goal of say 5 years, how much extra should we be adding to our saving goal knowing that the market will rise?

6. Who will be your best friend throughout the process of buying your first home?

   a). Who else should be on your side?

7. How do we know what government schemes are available to us?

8. At what stage of the saving goal should first home buyers actually start looking at viable properties to buy?

    a). If it's from day one, should you have an emotional strategy? That is, take away any emotional pull when looking, and look for the practical elements - like function, added value extras, storage, parking etc and see what that can buy you at your price point.

OFFER:

Real Estate Right Listeners can download a free Ebook titled 'How to Succeed with Property to Create Your Ideal Lifestyle. The Three Steps to Success and Seven Critical Mistakes'.

Go to www.propertyplanning.com.au

David Johnston can be contacted at: (03) 9819 4088 

or by email: info@propertyplanning.com.au

Podcast: The Property Planner, Buyer and Professor

 

 

 

 

Episode 42 - Nicole Jacobs and Barry Sloan - The Best Tactics for Bidding at Auction

We will be talking to both a buyer's advocate and an auctioneer about the best tactics for bidding.

Wanting a buyer's agent perspective on tactics, prestige buyer's advocate Nicole Jacobs, from Nicole Jacobs Property is here again to talk to us about the buying side of an auction. Nicole is featured as one of the Buyer's Advocates on 'The Block, is featured on 'Open Homes Australia' and regularly gives her advice through radio and print media channels.

1. How eager should we show the agent that we want the property, prior to auction?

2. What's the ideal bidding strategy?

3. Clare from Beaumaris wants to know how to combat the nerves?

4. How often do you see it that buyers have to be registered bidders at an auction? Why is this a good tactic by the selling agents?

5. When should we start bidding? Should we be the first or wait to see who else is interested?

6. What are the benefits of being the final bidder if it hasn't been declared "on the market"?

7. Ben from Williamstown wants to know before attending an auction for a house he wants to buy, how well should he get to know the auctioneer and their tactics?

 

Barry Sloan will give the auctioneer's perspective of what the best tactics are when bidding at an auction. Barry Sloan has been in the real estate industry for over 25 years and is a freelance auctioneer who helps usually smaller real estate agents get the best price for their marketed properties. He freelances right around Melbourne, understands every strategy buyers try to use,  and has conducted over 8000 auctions in his 25 years.

1. From an auctioneer's perspective, how can a bidder position themselves in a crowd to ensure the auctioneer knows they are interested in the property?

2. What is an auctioneer looking for, to work out who are the buyers? (Is it body language, first hand knowledge from agent/buyer or other tell-tell signs).

3. How should a buyer bid with confidence?

4. What are some of the things bidders do that can be misread either as a bid or not as a bid?

5. How can you tell the auctioneer that you've reached your limit without the rest of the crowd knowing?

6. Is the vendor or the agent in control of the auction?

 

OFFERS:

Win a copy of Nicole Jacobs book "Sold". Head to the competition post on our Facebook and Instagram and tell us "Why you love Real Estate Right?". Don't forget to like and share the post to enter.

Barry Sloan is offering agents to try an experienced auctioneer, first auction if you don't like you won't be charged. If you book another, you will be charged for the first. 

 

Nicole can be contacted by email at: info@nicolejacobs.com

Website: Nicole Jacobs Property:  nicolejacobs.com 

Phone: 03 9596 5555

 

Barry can be contacted by email at: barryjsloan@hotmail.com

Mobile: 0405 330 000

 

 

Episode 41: Will Walton - Creating a New Lifestyle in Regional Victoria

An appearance of a pandemic can make any wise person reconsider their lifestyle options. As so many companies moved to working from home, Melburnians looked to moving around the state for a better quality of life for themselves and their children. Today, we will talk to Will Walton, Co-Principal Director at Belle Property in Daylesford and Trentham, about how to create a new lifestyle in Regional Victoria, and what you need to think about. 

Will Walton is the Co-Director of the highly successful, high performing Belle property offices in Daylesford and Trentham, looking after the Hepburn Shire and Macedon Ranges. Will is a highly regarded voice about lifestyle change when it comes to moving to Regional Victoria. He is often quoted in many recognised websites and publications, including domain.com.au, realestate.com.au, realestatebusiness.com.au and Australian Country Style Magazine, for his lifestyle transitional expertise. 

Will has a family heritage in the Daylesford area, so he knows the landscape, both literally and as a community, like the back of his hand. Will has been in the real estate industry for over 20 years and is passionate about regional tourism and investment. 

1. What makes country living so different to city living?

2. What demographic do you find make the move to Regional Victoria?

3. What are some of the reasons why people move from the city to a country town?

4. How affordable are the properties compared with Melbourne?

   a). If you wanted to buy a 4 bedroom family home in say, Glen Waverley, you'd be looking at around 

        $1.3 million. What would you be spending in the Daylesford area?

5. What choices are there in terms of property size and business opportunity?

6. What are some of the infrastructure concerns that most city folk don't understand and are completely different to city life?

7. What are some of the pros and cons about living completely off the grid?

8. Karla from Fawkner wants to know if she can still maintain her city job while living in the country?

   a). Her boss has offered a work - life balance to work 2 days a week from the office and 3 days from

        home, is it easy to work remotely from Daylesford area?

9. What are some of the career changes people tend to do when they move to Regional Victoria?

    a). Can you live on one income? or do you need to have different streams of income?

10. What facilities are there to keep the kids entertained?

11. What are some of the things the locals love about the country life? (Healthier lifestyle, home-grown products, community, financial freedom?).

 

Will Walton can be contacted at Belle Property Daylesford.

Will Walton

Principal Director & Real Estate Agent

Belle Property Daylesford

Mobile: 0412 511 717

E: will.walton@belleproperty.com

https://www.belleproperty.com/daylesford/

 

Episode 40: Adam Docking - Auction vs Private Sale vs Expressions of Interest

With Covid-19 creating new avenues in how Melbourne sells property, you are sure to have seen a variety of new versions of different types of selling methods over the past 6 months. Today, we talk to Senior Vice President of the REIV, Adam Docking to find out which is the best method of sale for you and your property.

Having started in real estate in 1991, Adam is about to tick over 30 years in the industry. Adam is the director of his own independent family owned business, Docking Real Estate in the eastern suburb, Vermont. A fellow of the Real Estate Institute of Australia, Adam is the current Senior Vice President of the REIV, Chair of the Auction Chapter and an accredited REIV Auctioneer.

Since you were on Real Estate Right earlier this year, obviously a lot has changed in the global economic climate, how have you found the real estate industry?

1. Getting into the questions, what are the differences between auctions, private sales and expressions of interest?

2. What are the different sales strategies that make vendors or agents choose or favour one over the other?

3. Do some work better in different suburbs than others?

4. Which system is more transparent?

5. What happens if you don't sell or have an offer by the auction or expression of interest deadline?

     a). Define what a 'reserve' is, and what I should consider when setting it?

6. Are there any differences between the commission structures when choosing auction over private sale or expression of interest?

7. What marketing is 'essential' when contemplating an auction?

     a). Is it different for private sale or expressions of interest?

8. Are there any other forms of sale that can be used?

9. Do you think online auctions and expressions of interest will start to be used more often, now we know they worked so well during this covid-19 year?

 

If you would like to contact Adam Docking to sell your home, call 8877 7022 or go to:

www.mjdocking.com.au

 

Episode 39: Dean Shipley - Buying in Regional Victoria

Regional Victoria is becoming very attractive for Melburnians, with greater lifestyle options to work, rest and play. The fresh air, the space, the relaxed nature and the community spirit invigorates the mind, body and soul, and allows you to connect better with your family, without the constant pressures of city life. Today we talk about what the best strategies are and what makes the move to Regional Victoria so worthwhile.

Dean Shipley from Mansfield Lifestyle Real Estate is a very passionate real estate agent with high care factor for his clients. With 20 years experience, and a fabulous connection with both buyers and sellers, Dean understands what it's like to make the lifestyle change to Regional Victoria, starting his professional life as a plumber on the Mornington Peninsula. He has a strong understanding of building construction and quality, making him a fabulous asset to the Mansfield Community.

Dean, what made you move from the Mornington Peninsula up to the High Country?

1.  If we were doing a complete lifestyle change, should we be renting in the area before looking to buy?

2.  If you were to make a list of what was important to you with the city/country change, what should you include on that list before deciding to buy?

3.  What work possibilities are there before making the commitment?

      a). What are the job prospects in Regional Victoria like

      b). Do you need to think about having 2 or 3 jobs to make a living in the country possible, as it can be     seasonal, can't it?

 

4.  How much more affordable is living in the country vs living in the city?

     a). Can rates be more expensive

     b). What about internet connection?

 

5.  How do most city folk cope with septic and rain water tanks?

     a). How about the water ways and drainage? Is it less sophisticated  in the country, making the land more boggier and unreliable for growing crops or raising stock?

 

6. What's the community like? Is it more friendly with everyone getting together to help each other out, or is it more like everyone knows each other and a little bit gossipy?

 

7. What about hospitals and health care? If you had a health concern, what amenities would be hard to find in most regional areas?

 

8. Say I want a bracket for my broken blind, do I have to order it in from Melbourne, or are there businesses in the regional towns that can get obscure things?

 

9. What entertainment options are there for adults and kids?

     a). What are some of the things that are different to keep us entertained in the country vs the city?

 

10. What doesn't Regional Victoria have? (smog, traffic lights, etc)

 

 

Dean Shipley from Harcourts Mansfield Lifestyle Real Estate can be contacted on 0427 822 685.

https://mansfield.harcourts.com.au

 

 

 

 

 

 

 

 

     

 

Episode 38: Francis Morello - Auction Day: What To Expect

It's auction day. It's a day full of nerves, excitement, terror and heart palpitations, but it doesn't have to be...especially if you are in the know. Today we will talk about how to prepare yourself, as a buyer for the auction day nerves, and arm yourself with the right knowledge of what to expect on auction day.

Francis Morello, the Director of Morello Auctions is an REIV Member and approved auctioneer. Known for his tag line 'Let's go shopping!', Francis is passionate about auctions- not only on auction day with all the proceedings, but also helping agents with the entire auction process, including getting buyers to the auction and educating vendors so they are ready for their big day.

1. What are some of the questions we should be asking an auctioneer or agent, as a buyer, leading up to the auction day?

2. I'm planning out my day, how much time should I allow from auction to signing the paperwork and putting the sold sticker on the board

3. What is the auctioneer rambling on about before the bidding starts? What is that information and why is it so important for the auctioneer to say it all?

4. Is it better to watch and wait to see who your competition is before bidding, or better to show your interest and get the bidding going?

5. Tracy form Endeavour Hills has found a home she loves. She's been to the opens, looked at every single bit of information about the property on the internet and absolutely has to have this home, but she's seriously nervous about the auction process. What can she do to make sure the agent and the auctioneer know she's interested in the property, and combat the nerves?

6. Why does an auctioneer sometimes refuse bids during the auction?

7. Why do auctioneers go in to confer with the vendor?

    a. Does that happen at every auction?

8. What does it mean when a property is passed in?

9. What does it mean when the auctioneer's hand or gavel hits the contract?

     a. If I am the last bid, am I bound to sign the contract of sale?

10. Can I still give an offer if the property has passed in?

11. And lastly, how do I pay my deposit?

 

Special Deal for Real Estate Agents- 50% off your first auction by Francis.

For Real Estate Agents wanting to choose Morello Auctions his contact details are:

Mobile: 0415 979 891 or at www.morello auctions.com.au

 

 

Episode 37: Tania Bell - Knowing Your Benchtops

There are so many benchtops on the market, yet there is a trend for going for one particular style that seems to give a clean, crisp finish to the kitchen at the start. Kitchen bench tops probably get the biggest workout in your home. They take centerstage of your home, they are the statement of the quality that defines your home, and they are often the silent participant in many family discussions. Today we learn about the different quality of benchtops out there and how to choose the best one for your kitchen. 

Tania Bell is an award winning interior decorator and designer, design writer, mentor and business owner. Tania has a wide variety of knowledge and experience when it comes to kitchen design, being in the interior design industry since 2004. Coupled with her builder husband, Tania has collaborated on some head-turning kitchens throughout Melbourne.

Tell us first up, what's the best kitchen you've ever worked in?

1. What are the types of benchtops we could be using in our kitchens?

2. Monica from Waurn Ponds has heard some interesting concerns about how Caesarstone or Reconstituted Stone is made. It's very popular in Melbourne kitchens. What is great about Caesarstone and what are the downfalls?

3. What about natural granite and marble, how well do they work in a kitchen?

4. Timber benchtops were once the go- Blackwood, Tasmanian Oak and Tasmanian Myrtle were all popular in the 80s and 90's. How well do they last?

5. Commercial kitchens tend to use stainless steel, why don't we adopt that more in our residential kitchens?

6. Laminex has been around since day dot, what are some of the great qualities about Laminex, what are some of the bad qualities?

7. What about some of the man-made benchtops- corian, porcelain and any other new types of benchtops on the market?

8. When we go to source our benchtops, what should we be asking the kitchen companies about the manufacturing processes?

9. Should we trust that our kitchen company is looking after us when it comes to benchtops, or should we shop around to see who else can provide a similar product for a better price?

10. What should we be looking for in terms of:

      a. Value For Money

      b. Long Lasting

      c. Great Wearing

      d. Looks Good

11. What would be your Top 5 best benchtops?

12. What's your big tip for those looking at building a kitchen now?

 

Special Offer:

For Real Estate Right listeners who would love to get going on an interior design project with their home, Tania is offering a 25% discount on her 'Ask the Design Expert' Consultation which gives you 2 hours of brainstorming and design advice to go with your project. 

Tania from Green Room Interiors can be contacted on 0425 739 701 

Email: info@greenroominteriors.com.au

Website: https://www.greenroominteriors.com.au

 

 

 

 

Episode 36: Geoff Gartly - Helpful Tips on Negative Gearing

Buying an investment property is a calculated risk, with many benefits for your long term wealth creation. Today, we get some fantastic tips on the best way to minimise your tax with the right investments through negative gearing.

Geoff Gartly is a fabulous chartered accountant, based in the South East suburbs of Melbourne. He thrives on helping Mum and Dad investors and high worth individuals build their businesses and create wealth. He has a passion for property and his 30 years in the tax industry has ensured he has helped many of his clients get it right when it comes to tax and property investing. 

How did you get into Accounting?

1. What is Negative Gearing?

2. Who can claim the tax benefits?

3. How can negative gearing help you get tax deductions when you rent out your investment?

4. Why is it good to negative gear a property?

5. What are some of the pitfalls when negative gearing?

6. What are some of the good strategies when it comes to negative gearing and investment ownership?

7. What is the property allowance schedule for extra tax?

   a.) How can we take advantage of this?

8. What about Capital Gains, how can we manage it so we don't get slugged with a huge tax bill when we sell the investment?

9. How can we benefit from negative gearing if we inherit an investment property?

 

SPECIAL OFFER- Geoff is offering a complimentary zoom discussion about your property tax needs  and the implementation of a tax property holding plan. 

If you would like to contact Geoff Gartly from Gartly Advisory, to help with your investment property tax needs, Contact Geoff on 9597 9966 or visit the website: www.gartlyadvisory.com.au

 

Episode 35: James Green & Duncan Tonkin - The Changing Mortgage Industry

Since the Royal Commission into the mortgage industry in 2019, mortgages have been scrutinised with a fine-tooth comb, and it just seems like it's almost impossible to get a mortgage without donating a kidney.  We will get to the bottom of why it all happened, and how you can successfully obtain a mortgage in the current climate.

We have two amazing guests on to talk to us about the changing mortgage industry. 

Duncan Tonkin is the director of Villa Finance Group, who specialises in residential and investment lending. Duncan has 24 years experience in the banking and finance industry, and in 2013 began Villa Finance Group. His team have a passion for assisting clients create wealth through property and are in the midst of implementing a revolutionary blockchain technology called 'Intelligent Credit' in conjunction with Australian Mortgage that will completely simplify the home lending process for home loan applicants.

James Green is also with us from Australian Mortgage. James has had over 20 years experience in financial services and property. He has established an exclusive network and has won 18 mortgage industry awards. James has been actively involved in the financial industry where he has held positions on the MFAA National Lenders Committee, The MFAA Mortgage Managers Committee and The Council of Mortgage Lenders. James has been a speaker at the Finance Brokers Association of Australia's National Conference and has written numerous educational articles for Kaplan Education and Total Real Estate Training. In 2017/2018, James owned, managed and settled over $1.5 billion in residential mortgages.

1. Let's start with the Royal Commission, James what have been some stand out changes since the Royal Commission of 2019?  

        a. What are the reasons for making the changes?

2. Duncan, how has it changed since the outbreak of Covid?

       a. How are people doing their property and finance transactions now?

       b. Why is there a danger in doing a loan repayment deferral?

3. Duncan, are lenders being conservative in how much they lend?

      a. What is considered the affordability mark now for lending?

      b. What is the main criteria that makes it harder for home or investment buyers to get a loan now?

4. James, how is the mortgage industry making it more beneficial for their customers?

5. Duncan, what should buyers be looking for in their mortgage lender?

6. Duncan, do lenders still have costly exit fees, or is it easier to change loans, ensuring that lenders are giving you the best service and most competitive price?

7. Tell us about the future in mortgages.

8. What is AMM Blockchain Technology?

9. What is intelligent credit?

10. How can we get our loans approved in 15 minutes?

11. Should we be concerned with privacy of information?

12. Does this mean that buyers can be confident in buying a house tomorrow, after securing finance today?

13. When will intelligent credit be available and how do we get it?

 

If you would like to contact Duncan Tonkin from Villa Finance Group to help you with your home loan, you can call him on 0411 867 004 or go to villafinancegroup.com.au

James Green from Australian Mortgage can be contacted by email: info@australianmortgage.com or by calling 1300 134 310.

 

 

 

 

 

 

Episode 34: Agent X - Choosing The Right Agent Part 2

Real Estate agents are up there with car sales, but have been getting better in recent years with more training, more transparency and new legislation that upholds professional conduct and obligations. But some still find the loopholes and don't represent the person who is paying them properly. If caught, there are fines and possible jail time. Today, we find out how to chose the right agent to sell your home and what to stand clear from.

With over 25 years experience in the real estate industry, with a diverse involvement from different agent franchises to different suburbs, Agent X has seen it all.

1. Let's start with some horror stories...What's the worst thing you've seen an agent do to get a person to sign on the dotted line to either sell or lease their property?

2. If you are thinking about putting your home on the market, and have no idea where to start, how should you be choosing the agent?

3. What are the main attributes of an agent we should be focusing on?

4. Carly from Spotswood wants to know how many agents should we interview before deciding who to go with?

5. If an agent pressures you to sign on the dotted line on the first meeting, what should you be thinking?

6. How can we ensure that when we sign up with an experienced agent, they don't give us a less experienced agent to the the inspections and hard work?

7. Should we ever chose an agent that doesn't represent our suburb?

8. What can happen to an agent legally, if they misrepresent their client in any way?

9. In retrospect, how unlucky would you be to have an agent who does the wrong thing?