February 21, 2022

#141: The Q to T of Property success - "Qualifications" that property professionals (should) have, the 12 reasons to "Refinance", all the st

50 minutes

Got a question for the trio? - https://zfrmz.com/uLtjhyBskV96PY6eJfaI https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode Dave, Cate and Pete take you through: Market updates 1. Similarities between the car market and property market The trio discuss their experiences of trying to purchase a car in the last 12 months and how this closely follows the experience of many budding property purchasers. Cate shares a sneak peak of our next episode, which will be addressing a question from our listener, whose brand-new dwelling has gone up in value. They all share one key theme, can you guess what it is? 2. Return to the CBD Cate shares that for the first time in her career as a buyer's agent, she has a significant number of clients that are looking to purchase inner city property. There has certainly been a shift back to apartment living in the CBD, particularly for those who chose to live regionally during covid lockdowns and wish to retain a city 'pad', but there are limited quality apartments blocks. 3. How does consumer sentiment relate to property price growth Dave shares his research on the consumer sentiment index and how the sentiment statistics correlate to national property value growth. Can they give an insight into the future? The results are fascinating. Check out the show notes to take a look at the graphs. The Q to T of Property success Q - Qualifications that property professionals (should) have The trio discuss the qualifications required to become a property investment advisor (you may be surprised at the answer!) and how mandatory qualifications apply to other professionals such as buyer's agents, real estate agents, financial planners, mortgage brokers and building and pest inspectors. As a consumer it's important that you choose your trusted advisors wisely and ask them their level of experience before you make a decision on who to partner with. Cate shares a hot tip for our listeners on how to spot the red flags. R - Refinance, when and why should you do it Dave shares with you the 12 benefits to refinancing and why you should consider reviewing your mortgage strategy. But refinancing is not the best option for everyone, and the trio discuss when refinancing is a bad idea. S - Sale to Settlement, and everything in between So, you've just purchased, what happens next? Cate takes us through the various moving pieces that need to be organised prior to settlement. A word of warning, if your legal representative or mortgage broker asks you to do something, put that at the top of your priority list. The trio discuss what not to do and why you should always clarify the status of your pre-approval and expected settlement timeframe with your mortgage broker before putting in an offer. T - Tax and why you need a great accountant The trio discuss how capital gains tax is calculated, land tax, GST and margin schemes. Do any of these apply to you? Some are only related to property development and if you'd like to dip your toe into the development pond, finding a good accountant who knows their way around property tax is step number one. Visit the show notes to access our other episodes where the trio dive into tax in more detail. Visit the show notes - https://propertyplanning.com.au/the-q-to-t-of-property-success-ep-141/

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