The Property Diaries

"One in four investors live in their asset *before* they rent it out."

Mike is a cofounder of MCG Quantity Surveyors and is an industry leader in tax depreciation. He has completed thousands of depreciation schedules for commercial and residential property and has a penchant for data, trends and investor behaviour.

This fascination led Mike to prepare a white paper; "1,000 Assets Study" which documented multiple trends, correlations and novel findings. From distance between home and dwelling, amounts spent on renovations and improvements to time lapsed between acquisition and tax rebate, Mike's data is compelling.

In March, Mike provided Cate with the raw insights in an effort to identify the behaviour behind the trends and to glean a better understanding of some of the drivers for these investor behaviours.

Armed with the entire data set, Cate asked Mike if they could distill her top four trends on The Property Diaries for our listeners.

This second episode with Mike Mortlock unpacks all of the reasons why a quarter of investors have lived in their asset, and we blast the myth that suggests first home owner grants are the driving force for this trend. Cate details the concept of "the accidental investor" and shares the reasons why this can be a mistake for so many.

We hope you enjoy!

"What does a QS do?"

Mike is a cofounder of MCG Quantity Surveyors and is an industry leader in tax depreciation. Mike has worked as an expert depreciation consultant with a number of major firms such as McDonalds, CMC Markets, Deloitte, PwC and more. He has completed thousands of depreciation schedules for commercial and residential property and is in demand as a public speaker and property commentator having been featured in Australian Property Investor, Smart Property Investor, Property Observer, Sky Business and other print and radio publications. As a specialist in tax depreciation, Mike has a wealth of knowledge and a passion for maximising depreciation entitlements.

Cate met Mike back in 2018 when Mike asked her to feature on his podcast, Geared for Growth. The pair hit it off straight away and have enjoyed tax, economic, political, sports cars, and (-the occasional bit of-) science banter.

Cate quizzes Mike during this first episode about what he does, how investors have changed over the years, and what buyers can anticipate in this current market.

Perception vs Reality. Buyers Agency; it's not easy and it's not part-time. BUT... it's a wonderful role, and Lisa Parker and Cate explore so much about this exciting and emerging industry in the world of Australian Real Estate.

"I think passion goes along way, and it's required. You can have the skillset, but it requires a lot of commitment and a lot of hours. If you don't have the passion, you aren't going to be able to do the job at a high standard," says Lisa.

Cate shares her passion; it's not about houses or pretty interiors. It's about the people and the journey they are embarking on.

Lisa's passion is the strategy. Their financial position, the assets they currently hold and the way that they will reach their goals.

From flipping, renovating, buy/hold and developing, Lisa and Cate share their thoughts on all of the strategies that investors picture in their minds, and why these plans aren't always a good idea for that particular client.

These two seasoned professionals discuss the key attributes that they believe can make for an amazing Buyers Advocate.

For anyone who's wondering what the role of Buyer's Agent entails, *THIS* is the podcast to listen to.

Lisa Parker started her career in property at a very early age and launched her own Melbourne-based Buyer's Advocacy business back in 2004.

“It was the first time in my life where I felt like I was right where I was supposed to be. I was home.”
- Lisa chatting candidly about how she arrived at Buyer’s Advocacy.

Lisa is generous with her time, passionate about her industry and is one of our best thought-leaders in the Australian Buyer's Agency industry.

Having shaped her own business and client-offering from her rich tapestry of experiences prior to venturing out on her own, Lisa shares some valuable observations with our listeners. Lisa's acute sensitivity to client care, independence and tailored advices shines through as she shares with our audience how she found her groove in the world of Independent Buyer's Advocacy.

Cate and Lisa sometimes laugh about being competitors, but they are friendly competitors and love to share their own trials and tribulations with each other. Much of their peer support to each other is after 10pm, but that is what our crazy industry is often like.

In our second episode with Pete, Cate discusses broader global economic indicators with Pete and explores the correlation with our Australian property market. From China to Trump, COVID to credit, the pair turn over a few stones to uncover Pete's thoughts on our future market outlook. Pete's willingness to talk about, well... just about anything you ask him is refreshing and sometimes enchanting.... and every now and then, amusing.

Pete Wargent is one of our favourite wealth creation personalities and those of us who are familiar with Pete's work will recognise his Daily Blog, (that's right; not weekly but *daily*).
Pete has a strong financial background having worked for a number of professional finance organisations in Australia and the UK. He holds several top financial qualifications, including being a Chartered Accountant, Chartered Secretary and having a Financial Planning Diploma. Pete not only understands the mindset of today's workforce, and what financial and investment advice is needed to achieve financial freedom, he breathes it and lives it.
He came to Australia for the cricket initially, but has put his name on our property and financial markets. This first of two interviews delves into what created the spark of interest in this industry all those years ago, and what has shaped Pete's career trajectory.

What makes someone say; "Ok, let's do it. Let's pack up the family and move to Geelong?"
Cate revels in asking Stacey all about hers and Todd's significant decision to move to a regional city with a young family. Stacey and Todd couldn't have secured their dreamy period home in East Geelong without a willingness to roll up their sleeves, work hard, sacrifice the finer things in life and and ... UPCYCLE. Stacey is an avid upcycler and has some incredible tips for our listeners in this action-packed episode. From authentic mantle pieces to sprayed light fittings, Stacey knows exactly how to sniff out a great buying opportunity and shares her hacks for those who are tackling their own project on a shoestring budget.

"Today... we're chatting about Geelong!"

For this series' second episode, Cate and Stacey prompt some great points out of each other, and Stacey about her reasons for leaving the Big Smoke, what her adventures were like in the early days, and how she and her family made this incredible sea-change move work for them.
Stacey teases out some exciting Geelong insights out of Cate, including Cate's original special childhood link to Geelong, and Cate pays particular homage to the AFL impact on the property market of this amazing secondary city when the Cats are in the footy finals.

Stacey Mitchell joins Cate in the studio to discuss all things *regional investing* with Cate. Stacey works with Cate Bakos Property as a Buyer's Advocate and Stacey is based in Melbourne's biggest, (and closest) regional city; Geelong. Stacey and Cate met back in 2014 and it was Stacey's sheer enthusiasm to learn more about the art of auction bidding and negotiation that was the seed for her working relationship with Cate. Stacey trained as an auction bidder for two years following her own client assignment and successfully supported Cate with some Geelong auctions over the years following, and Stacey joined the crew formally as an advocate in January 2020. Aside from working *in* the business, Stacey is also an avid proof-reader, a great writer herself and Stacey's desire to host this segment bought this mini-series to life.
For this series' first episode, Stacey takes the chair and asks Cate some great questions about the reasons why investors turn to the regions, the misconceptions about regional investing, and she enables Cate to unlock some great concepts for our listeners.

Cate and Matt's fourth -and finalè- episode in this mini-series is, (in Cate's words), the best episode of the four. Cate takes back the interviewer role and talks to Matt about the concept of and where it can enable education, family unity and happiness in the high net wealth client's life.

Philanthropy is more than just a generous gesture or a donation to a favoured charity/community. For many high net wealth clients who have triggered a wealth event, it represents so much more than sheer generosity.

Matt shares with our listeners the multiple benefits and learnings that his clients experience through philanthropic investing and he passionately talks about the opportunity that it presents for parents whose children are suddenly thrust into a world they didn't know existed. The gift of giving is the mere start of the educational journey that some adolescent children are taken on ... and it begins with a common goal.

Families are encouraged to engineer their support for a chosen cause, from agreement on an investment model through to chairing board meetings, presenting their plans to recipients, understanding the fundamentals of a balance sheet to reaching a common consensus on payments/distributions, the journey is rich and the value of the fiscal education is hard to measure.

Matt also touches on the emotional challenges that many business owners face after a sale, from depression to loss of identity, and shares openly the incredible methods that specialist advisers adopt to assist their clients through significant career transitions.

What is incredible about Matt's insights in this powerful interview is the holistic approach that some advisers will be prepared to take to ensure that family unity remains number one priority.