August 22, 2022

#167: Property Planning Case Study #5 – Announcing the Property Planning interactive software platform! Do I need a large portfolio to achie

39 minutes

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode Dave, Cate and Pete take you through: Market update 1. How to keep an open mind when it comes to shortlisted properties Cate shares with our listeners her hot tips for shortlisting properties to inspect. The favourites at the top of your list may not be the ones that make the short list. It is critical to see the properties in person. 2. Government opens the gates on overseas migration Pete shares that the government’s reported figures for overseas migration to Australia are about to increase significantly. This will likely put a pricing floor under the property market, as all the new entrants will need a place to live, putting pressure on rents also. Those who can obtain permanent residency quickly will be looking to buy. Watch this space... 3. Some exciting news from the Property Planning Australia team – introducing the Property Planning software tool Property Planning Australia have thrown away the excels and word documents and now have the ability to provide a tool we can put into the hands of our clients and other Property, Mortgage and Financial professionals. The tool allows you to model up to 4 different Property Plan pathways factoring in all your existing cash flow, income, expenses and future goals right through to retirement, then measure the financial outcomes against your goals. For our listeners who would like to be able to build their own Property Plan with the support and guidance of a property or financial specialist and then be able to then take the reins to tweak or update your plan ongoing, we encourage you to reach out to Property Planning Australia via our website enquiry page. Case study 1. The conundrum This case study follows the journey of Nick and Rachel, who wanted assistance determining their property pathway and how best to use the cash from the business they have just sold. They wanted to purchase an investment property right away but also want to spend around $400,000 on renovations to evolve their home into one they can enjoy and that will meet their needs in the long-term. 2. Introducing Nick and Rachel David shares Nick and Rachel’s key circumstances and of course, their lifestyle and property goals which are driving their decision. Nick and Rachel are a couple in their early 30’s, with two young children, living in one of Australia’s major capital cities. The recent sale of a business has presented some exciting options, and they also expect to receive an inheritance in of around $1,000,000 in around another 10 years which they want to factor into their long-term plan. Finally, they both enjoy working, but they also want to create further flexibility for themselves so they can scale back their employment to 4 and 3 days per week well before retirement. 3. Modelling the scenarios Three scenarios were modelled for Nick and Rachel, to provide clarity on their key questions. When do they purchase their investment property? What should the strategy be in terms of price point and location? When could they complete the renovations on their home? Can they achieve their retirement income goals of $100,000 passive income through property? Can they scale back work earlier? The trio unpack the scenarios. 4. So, what did they choose to do (and what was the compromise)? Tune in to find out which scenario Nick and Rachel went for. Were they successful and what was the compromise?

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