Are you being true to your new year’s resolution? (Ep.38)
How are you tracking with your new year’s property resolutions?
Statistics show that less than 1 in 10 people keep their new year’s resolutions.
Sure, after the celebrations and holidays are over, life can get in the way. Getting back to the grind can get you stuck in the mud. But if your resolutions involved an element of property planning or wealth creation, you are doing yourself a disservice by not following through.
In episode 38, we discuss “Are you being true to your new year’s resolution?”
Listen as David Johnston, Cate Bakos and Peter Koulizos take you through why investors make new year’s resolutions, tips for planning and setting your goals, and what you can do to stay on track to achieving them.
Needing to sell property too soon – No. 7 of the top 7 Critical Mistakes (Ep.37)
Did you know that purchasing three homes and selling your first two over your property journey can equate to a financial loss of 10% of your lifetime earnings?
You work too hard to throw away that kind of money!
In episode 37, we discuss “Needing to sell property too soon” – No. 7 of the top 7 Critical Mistakes.
Listen as David Johnston, Cate Bakos and Peter Koulizos take you through the causes that trigger a premature decision to sell, how you can maximise your ability to hold property and how selling properties can impact your bottom line during the ‘flexibility stage of life’.
The Property Planner, David Johnston appeared as a guest on the “Smashed Avo Property Podcast”
David Johnston has appeared as a guest on the “Smashed Avo Property Podcast” with Jordan de Jong.
The Smashed Avo Property Podcast, as the name would suggest, is dedicated to helping millennials navigate the tricky path of property planning, buying and mortgage strategy. We are very grateful to support Jordan in his Podcast and his listeners as they work through their own Property Planning journey.
Buying the wrong property and/or the wrong location – No. 6 of the top 7 Critical Mistakes (Ep.36)
It’s time to play a game of “which would you rather?”
An investment property with a great floor plan and a daggy fit-out or a freshly renovated dwelling with living areas located in places that make you scratch your head?
A location under a flight path but close to the CBD, or away from a flight path, but further away from the city?
In episode 36, we discuss “Buying the wrong property and/or the wrong location” No.6 of the top 7 Critical Mistakes.
Listen as David Johnston, Cate Bakos and Peter Koulizos take you through what exactly is a ‘wrong’ location and property, tips that will help you spot a winning location, pocket, street and property, and many of the key questions to ask yourself about what you’re willing to compromise on. Because unfortunately, compromise is inevitable. No properties will rate as a 100/100.
Emotional decision making – No.5 of the top 7 Critical Mistakes (Ep.35)
In this episode, we tackle the art and science of recognising and removing emotions when purchasing a property. When we are not thinking objectively, we risk making poor impulsive decisions. In the property game, this can mean purchasing an under-performing asset, losing money, having to start all over again and regretting the home you have chosen for yourself.
So how do emotions impact our judgement and decision making?
This question has been explored in great depth in the last couple of decades, so much so that ‘Judgement and Decision Making’ has now been reduced to an acronym, JDM, in the world of social science.
Take a listen as David Johnston, Cate Bakos and Peter Koulizos take you through the property related causes of emotional decision making, how you can detach yourself to make objective decisions and the emotional biases that we all have.
EP # 35 – “Emotional decision making” – No.5 of the top 7 Critical Mistakes.
Spot the signs before you get stung
Interest rates are at all-time lows, lending is flowing freely and a hand-out for first home buyers is giving prospective purchasers a leg up onto the property ladder.
It may seem all rainbows and sunshine but beware of the danger lurking in the shadows. The property spruiker!
Much like the troll under the bridge, the property spruiker takes advantage of unwitting investors and can trap novice buyers into making the mistake of a lifetime – buying a dud property.
No mortgage strategy – #4 of the top 7 Critical Mistakes (Ep.34)
How does an extra cool million $$ sound for your retirement?
Or how about a war chest that will get you through any battle life throws at you?
An effective Mortgage strategy can make this difference to you, but it is the least understood discipline of finance professionals.
Why is that, when for most people, it’s your largest expense? Ever.
In episode 34, we discuss “No mortgage strategy” – #4 of the top 7 Critical Mistakes.
Listen as David Johnston, Cate Bakos and Peter Koulizos take you through why mortgage strategy is vital to create wealth and protect your downside.
Avoid Buying Modern Apartments ‘Like The Bubonic Plague’, Expert Warns
As if high rise apartments hadn’t been in the media enough, reports from the CFMEU estimate that it will cost $6.2 billion to fix shoddy apartments!
Issues include defective cladding, water leaks, fire safety and structural failures.
Co-host of the Property Planner, Buyer and Professor podcast, and Chairman of Property Investment Professionals of Australia, Peter Koulizos, takes you through how to recognise a bad-buy when looking at apartments.
How will your mortgages serve you in the long run?
Your interest rate will save you money, but an effective Mortgage Strategy will create wealth?
Our Managing Director Dave Johnston and Mike Mortlock of MCG Quantity Surveyors discuss the top 5 mortgage strategies for Australian Property Investor magazine.
There is always a great rate out there, you don’t need to be an expert in mortgages to know that 4.01% is higher than 4.00%. You do need someone in your corner to ensure that your mortgage strategy incorporates…
Starting without a plan and an end goal – #3 of the top 7 Critical Mistakes (Ep.33)
Have you ever done a long-distance run with a blindfold on?
It takes longer, you come across bumps and collect some bruises on the way.
Not very effective if you’d like to cross the finish line in one piece Or at all.
Yet many people buy property without a plan or clear idea of where they want to end up. This is the property equivalent of getting into the starting blocks with the blindfold on.
Which brings us to number 3 of our 7 critical mistakes.
In episode 33, we discuss “Starting without a plan and an end goal – #3 of the top 7 Critical Mistakes”.
Listen as David Johnston, Cate Bakos and Peter Koulizos take you through why planning is critical to success, the mistakes to avoid when putting together your plan and the misconceptions that trap property investors.
