The Property Heroes
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Fighting bad property decisions is the name of the game, and if you are a First Home Buyer, this could be the podcast for you. Every Aussie Property Buyer should have access to the information required to purchase a property, the Great Australian Dream, and be part of that exclusive club of homeownership. We provide this in 3 different weekly episodes, you will get your short and sweet dose of..
The Property Heroes
2y ago
Like most buyers, talking to a real agent can feel like a you’re being interrogated by the FBI. But if you’re prepared and organised you might be able to throw them off their game, and get more information than you expected.
What should I do before attending opens?Do your homework, what else is for sale in the area, try to find comparable's along with sold prices. If you know even one comparable property, the agent will look and treat you completely differently and put you ahead of the game. The agent will know you are a serious buyer and might even put you on their Hot Buyers List.
Where wo ..read more
The Property Heroes
2y ago
While times have certainly been tough, especially for those of us in Melbourne, but has a COVID softened market opened the doors for millennials? Are they still interested in property?
Shehan and James jump into a great report released by ING looking into some of these factors along with the savvy ways millennials have used the lockdown time to save better and establish their goals, maybe they listened to our planning episode :)
Here are some more facts from the report, along with a link if you'd like to check it out.
Many are also willing to continue to minimise their lifestyle ..read more
The Property Heroes
2y ago
In today's episode, we recap on the First Home Loan Deposit Scheme and the recent Government changes.
So let's start with the recap. The FHLDS is one of the Government Schemes, to boost the construction industry and Australian economy post-COVID. If you have saved 5% of a properties value, then the Government will step in and act as a guarantor eliminating Lenders Mortgage Insurance.
There are some key eligibility criteria:
- Income test
- Citizenship test
- Reason test
- Prior ownership test
- Price cap (by postcode)
Remember! There are only a few banks who are able to help you ..read more
The Property Heroes
2y ago
Fixed rates vs. variable interest rates?
What’s better fixed or variable?
It’s common question and something we get asked all the time.
So in this short and sweet finance episode we unpack and answer,
What the differences are between fixed and variable?
Is a fixed rate locked in forever?
What are the cost of a fixed rate? Upfront, Break fees, are there penalties?
Why are the interest rates different between fixed and variable?
What do Shehan suggest choosing?
We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amaz ..read more
The Property Heroes
2y ago
Unless you've been living under a rock, you would know that the Stage 4 restrictions in Melbourne were extended recently continuing to impact multiple industries.
On this episode, Shehan and James unpack;
What it's looks like to purchase a property through this period.
If it's a good option to buy sight unseen?
Should you wait or buy now/at the end of the restriction?
What happened in previous recessions.
The guys also chat about a rule from the great man Warren Buffet,
The Noah Rule says: "Predicting rain doesn't count, building an ark does."
1. Have the discipline to do scenario pl ..read more
The Property Heroes
2y ago
On today's podcast, our heroes tackle one of the hardest parts of your journey. How to evaluate a property?
1. Have a narrow criteria
- It's difficult to monitor multiple markets, locations, or styles of property
- Keeping your criteria narrow allows you to become an expert faster
2. Find comparable sales, and use them as your base
- To evaluate a property you need to have a list of comparable and relevant properties to help
- The best place to start is the SOLD section of Realestate.com.au or Domain to help
- FYI: The Statement of Information is terrible so make sure ..read more
The Property Heroes
2y ago
In this episode, we chat through our March Market update, and yes, it's been Mad. Some key topics:
- ANZ forecasts 17% growth for property
- Feb 2020 increase is 2.5% for Sydney and 2.1% for Melbourne
- Finance approvals are the highest they have ever been
- Some tips about buying when the market is rising
Connect with us below:
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Instagram:
https://www.instagram.com/letsbuyproperty/
Facebook group:
https://www.facebook.com/groups/letsbuyproperty/
Facebook page:
https://www.facebook.com/letsbuypropertyfb/
Website:
https://www.letsbuyproperty.com.au ..read more
The Property Heroes
2y ago
In this episode, our heroes will give us the nine elements a bank’s credit officer looks for when reviewing your application for a pre-approval.
Before we kick off it’s important to remember two things:
Banks have a policy that dictates what it can and can’t do, but also, lending money is high judgemental; and
There are somewhere in the realms of 10,000+ home loan applications weekly. Yes weekly, so if you don’t stand out from the pack as the best place to park the bank's money, then be warned, it could be a no go.
9 Elements:
1. They look at your income
2. They look at your exp ..read more
The Property Heroes
2y ago
In today’s episode we discuss buy now pay later concept for property.
This was spurred by a recent article in about a tech start up called BRICKLETS (link) and we reference another company BRICKX that’s been around for a few years.
Here is what we cover:
The concept, BRICK-X and BRICKETS allow you to buy parts of a house and trade it on their platform. These ‘shares’ are known as bricks. It is a way to get into the property market earlier and specifically to an asset type or area.
What we think about the concept?
What we don’t like about the idea?
What risks are there in these types of schemes ..read more
The Property Heroes
2y ago
To succeed in property, you have to both acknowledge the past but also assess the current state of play.
You have to avoid all the ‘advice’ people who aren’t in the industry or have an agenda, to look at facts and evidence.
So today, we're going to look at the 4 top myths your parents would have told you and how they may be aiding you making the wrong decision.
Myth 1: You’ve got to have 20% Deposit
Myth 2: Just a property, any property, because being in the market is better than not.
https://www.domain.com.au/news/how-melbourne-house-prices-of-1997-compare-to-2017
Myth 3: An ..read more