The Holy Grail of Property Investing

-Today my guest Bernard Desmond is a Multi Award winning Mortgage Broker who firmly believes “Your customer doesn’t care how much you know until they know how much you CARE,”

-I need to draw breath here to list his achievements (You'll be able to make a cup of coffee in the time it takes me to list these)

-He was recently also elected as State President for the Finance Brokers Association of Australia for Victoria and Tasmania. His prime goal is to work closely with the FBAA Leadership team and help roll out quality Professional Development Programs to benefit FBAA members in Metropolitan & Regional Areas. As Part of the State Council he wants to be part of a team that Champions the Finance Broking Industry, Finance Brokers and the FBAA.

-We start with where it all started back in India where Bernard shares what it was like growing up as a boy in India.

-Bernard tells of his decision to move to Dubai where he took up a role in Logistics and what that role taught him.

-Bernard talks about his switch in to Banking and his love of Exceptional Customer Service.

-We discuss the events of 2007 that shaped Bernard in to becoming a man and the impact of losing his dad to a stroke had on him and his mother and younger brother.

-In 2018 a very special event took place where Bernard married his childhood sweetheart!

-In 2009 Bernard shares what it was like for him going through the GFC

-Fast forward to 2012 and Bernard emigrates to Australia and talks about his first role in Banking and other roles in the Finance Industry and how that shaped and solidified his hunger to be the best he could possibly be as a Mortgage Broker.

-In 2014 you become a dad for the first time...I bet that was a special time. - Bernard also shares some of the key things that happened such as bringing his beloved mum to Australia, relocating his brother to New Zealand and becoming a father for the second time.

-We chat about some of the lessons and growth Bernard had and he shares his thoughts and advice for new to industry and anyone who wants to create an A Grade Mortgage Business?

-I ask Bernard if there are any things he’d do differently or better if he had his time over?

-Bernard shares what he refers to his CARE Strategy to achieve outstanding results

-I ask Bernard about his role as the State President for the Finance Brokers Association of Australia for Victoria and Tasmania. What does this involve?

-We touch on such an important issue and that is Mental Health within the Finance Industry and we chat about Bernard’s advice for Brokers when it comes to managing their Mental Health.

-I share what we teach at Saving Brother where we ask men to ask their friends…” How's your day going out of 10?...

-We talk about Bernard’s Petition around Digital Signing of Loan Offer Dox versus Snail Mail. Bernard brings us up to speed on just what the impact of Lockdown is having on getting Loan Offer Documents signed.

-We wrap up with Bernard recapping his journey and his love and gratitude for being in Australia and all the opportunities that it has provided for him and his family.

This week Terry Ryder and I discuss the key trends currently driving Property Markets across Australia.

We explore 4 key factors which are:

Terry and I look at each of these 4 factors in depth and then highlight the cities and towns that tick the boxes in each category.

We discuss examples of cities that are meeting the criteria for growth and in some cases there are cities that tick all four boxes.

We also take a swipe at the constant obsession with Media Misinformation and how this really doesn’t assist investors when it comes to knowledge around what is “really” happening in the Australian Property Market.

Finally we take a look at the locations benefiting most from all of these dominant trends and finish up with case studies that will benefit investors when it comes to plotting their investment strategy.

In this Episode I have the pleasure of interviewing Finance Industry Legend Peter White. Peter is in his 42nd year in the banking and finance industry. He is the managing director of the FBAA - The Finance Brokers Association of Australia, the chairman of the Global Board of Governors for the IMBF - The International Mortgage Brokers Federation, the executive chairman and co-founder of The Sanity Space Foundation he is an advisory board member of the Small Business Association of Australia and was made a member of the Order of Australia in the Queen's 2019 Birthday honours list for his significance in the finance sector and the community.

-Peter shares his journey the highs the lows of the finance industry and the many changes in that time.

-I ask Peter “What are some of the things you would do differently if you had your time over again?”

-We explore what Peter sees as the biggest challenges today for the finance and banking industry.

-Peter gives his personal account and read on the state of mental health in the finance sector.

-Our discussion leads us to how brokers are coping particularly in Melbourne right now without face to face contact with their customers.

-What can the industry bodies do more of to support their members so that some of the industry doesn't fall through the cracks?

-I ask Peter about RUOK Day an initiative he has been very much involved and what it’s doing for those in the finance industry and beyond.

-Peter shares what motivated him to start The Sanity Space Foundation and his mission. It’s powerful, raw and so needed.

-When it comes to mental health for the finance and banking industry what is on your wishlist? What would you like to see happen?

-We look at the question “What can we all do to help our brothers and sisters in the industry?”

-I share a strategy I have found very helpful to create a discussion with a friend by asking the question, "how was your day out of 10?". The thing about this question is it requires an answer a number a score. Whereas if you were to ask someone, "how are you going?" it's too easy for them to say, "yeah not bad" and that's the end of it. You are letting them off the hook and if they are struggling, you haven't been able to create a safe space for them to share how they're really doing. Whereas when you ask for an answer to the question, "how was your day out of 10?", this is likely to get a response..."Oh it was a 2 or a 4" etc. You can then ask what it was that made your day a 4 for example. Have you ever had an 8? What would they look like for you and so on.

-The thing about us men is we try to fix things, problem solve we don't need to do that we just need to listen.

-Peter shares what he hopes to achieve in the next 5 years.

-I close off by asking Peter “What would you like to say to our listeners many of whom are from the Finance and Banking Industry when it comes to Mental Health what message would you like to leave them with.”

This episode features Lorenzo Rigoni - Director of Terrain Consulting.

Lorenzo spent 10 years in Local Government and the last 20 years in Private Consultancy. He has extensive experience facilitating the management of a wide range of projects across all areas of residential, commercial and industrial development.

He is often called on to represent clients before VCAT - The Victorian Civil and Administrative Appeals Tribunal, at Panel Hearings, Council Meetings and Community forums.

Straight off the bat I quiz Lorenzo on what is a Town Planner & secondly how does the role of a Town Planner differ from that of a Draftsman?

We discuss when thinking of the work a town planner would be doing where they are to be found would I imagine think they are working for a Local Council or Government Authority but that's not always the case is it?

Lorenzo shares with me the different professionals they collaborate with which include traffic engineers, landscape architects, heritage consultants, arborists and ecologists.

With my role as a Buyers Advocate in Regional Australia I am often looking for the highest and best use of land which can involve the possibility of a Land Subdivision. Lorenzo looks at what’s involved in assessing the suitability of a property for a possible subdivision.

Lorenzo shares some examples

These are three examples of changes which would require a land-use application.

We chat about Rezoning of Land & Land Use Applications and cite examples.

Urban Planning - Clearly Melbourne is growing fast and there really needs to be a very strategic approach to future development I guess this is where Urban Planning comes in?

Lorenzo explains just what is Urban Planning?–

Urban planning typically deals with the planning involved in the creation of medium and high density housing, heritage dwellings and buildings, commercial and residential area.

This covers instances such as:

Urban planning is the process of assessing what is possible and permissible when a property owner is looking to develop or redevelop land they own and the preparation of all the required expert advice and evidence for a planning application.

Lorenzo sums up beautifully the role and the responsibility of Town Planners in shaping our future.

-Terry and I take a look at the Darling of Mainstream Media and kick off our discussion today with Sydney.

-We look back to 2013 & 2014 and look at Sydney's previous 10 years there's not a case for why you'd invest there. – We look at what’s happened to the Sydney market since then.

-Case Study Wollongong – Impact of when Blue Scope Steel was downsizing 5-6 years ago.

-What the local media had to say that house prices would fall by up to 50%.

-What really happened? We discuss this. It’s not what you think…

-Terry talks about his backyard the Sunshine Coast. 3-4 Years ago it was on the nose. Now? Boom.

-We look at what’s happened with the huge investment in Infrastructure and Healthcare and Terry cites Maroochydore as another example and the impact on house values for the Sunshine Coast.

-Case Study Townsville – Look at the past 5 years it was going backwards – What’s happening now with significant construction and infrastructure being spent of around $25 Billion? The impact will be huge for growth in the future.

-South Australia – One of the least Covid affected States. Adelaide has the perception of a low growth city. If you follow the mainstream media you wouldn't put Adelaide in the mix.

-Big technology investment with Tessler and Technicolor Films and others.

-We touch on what’s happening in Regional South Australia with some towns experiencing price growth in double digits.

-West Australia – Perth on face value you'd see that Perth's Property values have been going backwards for 5 years so on that basis you wouldn't consider investing in Perth.

-We explore the case for Perth and the resurgence in the resource sector and agriculture that is driving this market again.

-We focus on Geelong in Victoria or what I currently refer to as Covid County.

-We discuss the similarities between Geelong and Wollongong both previously blue collar (smoke stack) economies.

-We examine the key drivers in Geelong that include Government Department relocations and Healthcare and other industries.

-The Latrobe Valley another Victorian Region that was written off with the Decommissioning of the Hazelwood Power Station - if you'd believed the media that was the end of the Latrobe Valley.

-I discuss my trip to the Valley this week the impact of Lockdown and having to get through the roadblocks and the need to have letters from Local Real Estate Agents to ensure I’d be allowed into the Valley.

-We deep dive into what’s really happening in the Latrobe Valley made up of Key towns Churchill, Moe/Newborough Morwell, Traralgon and I discuss what I found out it’s pretty exciting for investors.

-We take a close look at the key drivers for the Latrobe Valley and its future with examples of solid median price growth over the last 12 months.

Today I catch up with Martin Galea of Tickbox Conveyancing who started his journey in to the world of conveyancing and property in 1984 as a legal clerk.

-Previously Martin was Vice President of the Australian Institute of Conveyancing Victoria branch, sat on the advisory committee which played a vital role in the development of the Conveyancing diploma run by RMIT and was the first and – to date – only ever appointed Statutory Manager by Consumer Affairs Victoria.

-He served as a key consultant to PEXA and sat on the State Revenue Office Consultative Council, representing Victorian conveyancers. Martin is also a full member of the Australian Institute of Conveyancers (Vic), an accredited Certified Practicing Conveyancer, holds a Diploma of Financial Services (Conveyancing) from RMIT and is also a Fellow of the Institute of Legal Executives (Vic) which qualifies him to witness Statutory Declarations and affidavits. - Welcome Martin Galea.

-Martin shares how he got into Conveyancing?

-We chat about what is a Conveyancer and what are the primary tasks of a Conveyancer?

-The obvious question...What are the key differences between a Conveyancer and a Lawyer?

-Why would you pick one over another?

-What are the characteristics that distinguishes a good/excellent conveyancer over a poor one?

-Martin shares examples of how a good conveyancer can save you big time – Ever heard of the Apparent Purchasers Exemption? This one saved a client $25,000 in Government Stamp Duty.

-Is the work of a Conveyancer State based? Can you practice interstate or for matters cross border would you need to refer that work to another Conveyancer?

-Do conveyancers work on only Residential Matters or can they do work on Commercial matters as well?

-What are some of the different types of matters as a Conveyancer you act on? We spoke offline about Concessions, Subdivisions and Partitions? Martin provides examples of Case Studies/

-So when a matter goes off the rails what then? Do you engage and lawyer and if so when?

-Martin explains what PEXA is and its importance in the world of Covid-19 and how this enables settlements to be effected whilst maintaining Social Distancing.

-Martin shares his thoughts on being on the State Revenue Office Consultative Council, representing Victorian conveyancers.

-I ask Martin about what he sees as the future of Conveyancing from the Consumer’s Point of view? Are there any significant changes that we should look out for in the property landscape?

In Today’s Episode I discuss with Terry Ryder the Number One Mistake that Property Investors Make, in fact it is from this mistake that all the other mistakes flow.

In this episode I interview Mortgage Broker and very successful Property Investor Garry Harvey who over the past 20 years has accumulated 33 investment properties. In 2012 Garry was runner up in the “Your Investment Property” magazine’s Investor of the Year as judged by a panel of experts.

-Garry shares his backstory and how he bought his first property which after being encouraged by his then girlfriend and now wife was two houses on one title. The second property generated a rental income which enabled them to use that money to pay off their mortgage faster. 

-From there Garry went on to do his first subdivision and that single title property now became two dwellings on separate titles.  

-Garry gained confidence from this first property experience and soon realised that he wanted to build cash flow for his retirement.

-His foray into Regional Property investing was as much about necessity and what he could afford and it suited his long-term goal of buying affordable properties that would provide for a comfortable retirement. 

-Garry shares with us what type of properties fit his investment criteria.

-We explore the cash flow from his properties and Garry shares that whilst many are cash positive not all of them are but it’s about having the income to support them. 

-I ask Garry what he does with the surplus income for those properties that are cash positive. 

-Garry shares with us his biggest lessons and learning over the last 20 years as a Property Investor?

-So just what is it that Garry thinks as an Investor he has done well?

-Garry shares with me what he could have done better as an Investor and what he’s learnt.

-What would Garry do differently as an Investor?

-For someone starting out about to buy their first property what advice would you give them?

-Do you think your strategy can help prepare investors for retirement?

-De-risking the Asset - What do you mean by this? This is an important part of Garry’s strategy.

-I ask Garry “With many people sitting on their hands at the moment does he think investing at the moment in Regional Property makes sense?  

In this episode I take a Deep Dive in to the importance and role having the right Mindset plays and shapes our outcomes when it comes to Property Investing.

Ash Playsted aka "the mindset coaches mindset coach" the "unfair advantage" and "the secret weapon"as described by his clients shares with us what he describes as the Bulletproof Mindset.

We unpack the "Champion's Bulletproof Mindset" What is it and how does it work?

Ash shares his backstory on how he arrived at being a Mindset Coach.

How important is the connection between money and mindset?

Ash - Answer:... "It's everything."

Ash shares how having the right mindset shapes and determines the outcomes we have in relation to  property investing.

So what are "The 7 Mental Tricks Only the Rich Use?" - Ash spells this out.

In light of the significant changes the world is going through at the moment with Covid-19 we discuss a recent article Ash put up on social media titled " Great Opportunities are Born During Great Difficulties"...

The 3 Core Beliefs and how they relate to investing in Property.

1) Your Core Beliefs you Have About Yourself.

2) Your Core Beliefs you Have About Others.

3) Your Core Beliefs About the World.

Pain or Power? You Get to Choose... How does this relate to being a Property Investor?

- Embracing the victor or be the victim?

- Playing the victim is easy - You Won't have to do anything.

- You have to choose - If you don't choose the victim wins!

In the context of Property Investing and setting goals for the remainder of the year can you share with our listeners what they must do if they want to reach their goals?

- You can always control the goal - You can't control the outcome.

Taking specific actions is your goal, not the outcomes those actions lead to.

What is the process you go through to keep things under control?

Phase 1 - Choose ONE Primary Outcome.

Phase 2 - Actions to Produce the Outcome.

Phase 3 - Sequencing & Scheduling.

Conclusion: To change your circumstances:

- Write down the outcome you want (stated in the positive) - In the context of being a Property Investor.

- List out all the actions you need to take to achieve that outcome.

- Boil down those actions into a single hourly, daily, weekly, monthly goal (action) that you take consistently.