Welcome to our first guests!
This is a great roundtable discussion involving sheep sh*t, valuers, hairy moles, crystal balls, Lucky Uncles, Dance Dance Revolution, poker tournaments…. Oh, and we uncover some great things about property and finance too!!!
In this episode Allan and John interview Gabe and Hung from Strategic Brokers, discussing their background in finance and what they’ve learned from running a boutique service assisting property investors with their financing needs.
This episode is both incredibly informative and fun for a lot of reasons, one of the big ones being that much like Allan and John, Gabe and Hung are both incredibly passionate about getting ahead and helping their clients do the same. Digging into their personal stories and experiences, we get a really clear picture of the power of portfolio building and how it can change your life, how finance is the oxygen of property investing, and how talking to a genuine investment lending specialist can supercharge your wealth-building journey.
Just as importantly, we review how talking to a subject matter expert can help you avoid multiple risks and mistakes that a novice broker or banker simply wouldn’t have the perspective or knowledge to help you avoid.
If you’re serious about creating wealth for yourself and your family, this episode is essential viewing.
[00:50] How Gabriel and Hung got started in finance
[03:44] The type of people that strategic brokers work with
[05:42] The drive behind early aggressive property investment by Gabriel and Hung
[08:05] The immigrant mentalities regarding financial choices
[13:21] The significance of leverage and the compounding effect on property investment
[14:23] Benefits of having a knowledgeable team when it comes to property investment
[19:08] Significance of property valuation estimates and their impact on financial decisions
[21:36] Benefits of working with a mortgage broker rather than going directly to a bank
[23:43] Why investors should not solely focus on getting the lowest interest rate
[26:20] Prioritizing the client's best interest, getting the best valuation, and finding the best interest rate
[27:30] Factors influencing interest rates in Australia
[32:09] What homeowners can do in the current market
Just buy property and make sure you buy houses if you can, but if you can't afford a house, buy a really good unit.
The worst thing you can do is make a mistake on that first one. Yeah. That mistake on that first one is just going to leave you scarred. Yeah. And your appetite would, you know, you might not want to buy another property.
Fixed rates are starting to present lower than the variable rates again. Yeah. This indicates that, eventually, they will be dropping those rates at some point.
If you've got debt, the first step is to call your bank. They won't proactively call you to try to get a better rate. It's all, it, sometimes it's a free-step process. You have to call them first. So you can raise a case and say, oh, this guy's called, it's then call them again. Yeah. But, but usually come, I guess, ready with ammunition.
You've got to prepare months beforehand, you know, don't, don't wait till the last minute, and it will start swallowing you.
