https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #67 of the Property Planner, Buyer and Professor Podcast, the team share some of their insights, experiences and best tips for our listeners when it comes to setting goals. In line with the first week of 2021, this podcast is well-timed according to our trio, as they each see a heightened degree of property investor goal-setting and planning activity at this time of year. But not all goals turn into successful outcomes and in this episode the trio explore why, and more importantly, the fundamental goal setting behaviour that can make all the difference between dreams and outcomes. Goal setting fundamentals 1. Why is goal setting important? Cate asks the Property Planner, (Dave) to share his approach that he uses to enable his clients to achieve their property plan goals, from property goals, investing goals, lifestyle goals, to the 'flexibility stage of life goals.' Pete sheds light on why people set goals, (particularly in January), and why so many people's goals don't come to fruition. 2. You can only manage what you can measure Dave uncovers the professional approach he guides his clients on when creating goals, setting measurable targets and avoiding procrastination. He shares an interesting psychological study where a study focused on a group of students who were split into two groups; those who visualised the outcome of the goals, and those who visualised the process required to achieve the goals. Visualising the required steps is an integral part of successful goal setting. 3. Creating an action plan and holding yourself accountable Setting goals is the vehicle that will drive you to your destination. Dave talks about the adoption of a timeframe map; when, where and how you'll apply the behaviour. 4. Five core reasons why people set goals Pete shares these five core reasons that he has incorporated into his university property investment course; •retire earlier •retire richer •earn extra money from time to time •work part-time •give up your day job Some can be set in tandem, but ultimately these various reasons for setting goals will determine what you buy, where you buy, and when you buy. Pete also offers some great insights for listeners who are keen to retire richer. 5. Keeping it simple (and avoid goal competition) Dave speaks candidly about one of his preferred authors, and a great lesson he's picked up from Jim Collins, (Good to Great, Built to Last). The importance of setting three clear goals; "If you have more than three priorities, you have no priorities", and he also encourages people to consider three things they should stop doing. 6. Set your goals for the now and hold yourself accountable Dave cites Steven Covey (Seven Effective Habits); "Schedule your priorities daily, don't prioritise your schedule". The way that Dave describes a stepped model is as follows; •What's your "some-day" goal •What's your five-year goal that will help you reach your "some-day" goal? •What's your one-year goal that will help you reach your five-year goal? •What's your monthly goal that will help you reach your one-year goal? •What's your weekly goal that will help you reach your monthly goal? •What's your daily goal that will help you reach your weekly goal? The planning fallacy is something that can...

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #66 of the Property Planner, Buyer and Professor Podcast, the team discuss "Holiday homes - delirium or dream?", as Dave, Cate and Pete take you through: 1. Lifestyle, investment or hybrid - what is a holiday house? The trio share whether you should be looking at your holiday home as a lifestyle property, a money-maker or a mix between the two. They shed light on the compromises involved when opting for the hybrid scenario, and the key considerations that investors need to acknowledge if they want to purchase with eyes wide open. 2. The opportunity cost of holiday homes Holiday homes are typically in locations that do not exhibit long-term outperformance in capital growth and your use of the home will limit the rent you receive and the tax advantages. Compounding this, your borrowing capacity will be significantly reduced, limiting your investment opportunities for wealth creation. Considering how your retirement goals will be impacted if you purchase a holiday home instead of a pure investment is critical to ensure you make the right decision for your today, and your tomorrow. 3. The tax implications and limitations for holiday homes The trio explain the tax implications of leasing out your holiday home, whether it be a long-term, traditional residential lease, a short stay Airbnb arrangement or an ad hoc approach. 4. The perils of purchasing a holiday house with friends or family Purchasing a holiday house with your mates or siblings may seem like a great idea at the time, but the reality of managing the property can be the cause of strains on the relationship. In addition to a usage roster and the clean-up and provisions protocols, co-owners also need to consider how joint ownership arrangements can change and evolve. The trio talk about the importance of an out-clause and rules around equity access before signing on the dotted line. 5. Maximising rents on a holiday home There are differing management fees and service costs that must be factored in, depending on whether your property will be leased 'hotel style' like an Airbnb or for longer-term stays. From appointing cleaners to sourcing breakfast provisions, to linen changing and beyond, the trio discuss the various ways that holiday house investors can maximise their profits over a holiday period. 6. When should you buy a holiday home Although cash flow, long-term investment and ongoing maintenance are critical factors to consider, the memories and traditions that you'll create with family are priceless, as is the respite from the day-to-day grind of a professional career or running a family. So, when is a good time to consider purchasing a holiday home, and how do you create a cost-benefit analysis when some measurements are non-financial? 7. What's in store for 2021? 2020 has seen some holiday locations take capital growth by storm. But will the tree and sea change trend continue or has the capital growth boat for holiday locations already sailed? The trio reveal their predictions for 2021. Visit the show notes - https://propertyplanning.com.au/holiday-houses-delirium-or-dream/

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #65 of the Property Planner, Buyer and Professor Podcast, the team discuss "How to combat your naysayers and make successful property decisions", as Dave, Cate and Pete take you through: Weekly market insights 1. Demand for holiday homes increases Fears of another outbreak, combined with additional household savings following lockdown have driven a large proportion of buyers to consider a holiday house purchase. But is this the right strategy for you? We think this warrants a full episode, so stay tuned for next week's podcast as the Property Planner, Buyer and Professor tackle holiday homes. 2. Sunshine Beach wins the 2020 crown for capital growth CoreLogic figures released last week have revealed Sunshine Beach had the largest capital growth return of 2020 with values rising by a whopping 27.6%. No doubt the capital cities of Melbourne and Sydney have been channelling money into these locations as beautiful holiday hotspots. It will be interesting to see whether long-term performance will result for investors. 3. Unemployment forecasts have improved Banks and economists have revised their unemployment predictions, with most agreeing we won't even reach 8% unemployment, a vast improvement from the previous forecast of 11%. Commonwealth Bank economists have announced that they expect the unemployment rate has already peaked and we won't go any higher than where it is right now. Combatting the naysayers 1. Why are some people naysayers? 2020 was the year the naysayers and in the end, the sky didn't fall. The trio explain the drivers that turn people into naysayers. 2. When is a naysayer doing this out of care? Parents are great at spotting the risks their children may be opening themselves up to. That doesn't just disappear when the kids reach adulthood. We explain how to manage the people that care about you the most. 3. When should you listen to your 'old folks'? You'll be laughing all the way to the bank with the money management tips you can mine from your parents and grandparents. 4. What has a naysayer cost you in the past? The Property Buyer shares the opportunities she's lost from listening to those near and dear. 5. How to get past the naysayers The best way to combat the naysayers, is to understand the 'why' behind the opinion and make up your own mind. This means doing your research and asking your independent experts great questions. 6. What role did the media play during our recent downturn? Interestingly, the media's focus on trumpeting the worst-case scenario may have actually mitigated the impact to the property market. The trio explain how. 7. How are predictions shaping up now? The sun has come out on the property doomsayers, with many now predicting growth of around 10% in 2021. However, the clouds are still hanging over Melbourne, with predictions that Melbourne will see the lowest growth next year. But we think this is overly pessimistic. 8. And of course, our 'gold nuggets'! Visit the show notes - https://propertyplanning.com.au/how-to-combat-your-naysayers-and-make-successful-property-decisions/

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #64 of the Property Planner, Buyer and Professor Podcast, the team discuss "Property v Shares - How to strike the right balance in your investment portfolio, which investment strategy is superior, how to get started and should it actually be property AND shares?", as Dave, Cate and Pete discuss: Weekly market insights 1. Australian bonds in negative yield territory For the first time ever, Australian bonds have been purchased at a negative rate last week, with an average yield of 0.01% and buyer's who bid most aggressively receiving a yield of minus 0.01%. 2. Landlords and tenants in limbo as VCAT unable to settle interstate disputes The Court of Appeal has ruled that property disputes in Victoria involving landlords who are residents of other states are not within VCAT's jurisdiction. This means that neither the tenant or the landlord can apply to have a tenancy dispute managed in VCAT. We expect this unsatisfactory state of affairs will be dealt with and rectified by the Government shortly. 3. Savings spike the highest since the 70's One silver lining of the coronavirus pandemic is that many Australian's are saving more money than ever. The last time we saw a spike in savings this high was in the early 70's where fuel was being rationed. Increased savings will add fuel to the property fire for many borrowers whose borrowing capacity is contingent on their deposit size. Property v Shares 1. Share investment lessons from the property experts The Property Planner, Buyer and Professor share their first-hand experiences and lessons learnt the hard way from their first foray into shares. 2. What does an investor need to do to be purchase-ready? It's a lot easier to get your foot onto the share market ladder, than the property ladder. With the ability to invest a few $100 in the share market and low transaction costs to purchase and sell, the trio share with you what you need to do to get purchase-ready. 3. Leverage and borrowing funds to invest One key difference between property and shares is bank policy in providing funding, which typically allows for lower loan to value ratios of 50-70% for margin loans. Whereas home buyers can seek loans of up to 95% to purchase a property. This is because of the perceived risk and volatility in the share market and relative stability of the property market. This also means that the value of the investment that you can purchase with your initial capital is greater, and this leveraging bolsters net capital growth, which translates to more opportunity to invest and leverage in the future. 4. Share trading v share investing The trio explain the differences between share trading and share investing, and if you're not a share market expert, why share investing is likely the right strategy for you. 5. How mortgage strategy applies to shares The good news is that the same principle of mortgage strategy apply to share investing as property investing. The Property Planner, Buyer and Professor outline the key strategies to implement. 6. Market volatility While there is certainly more risk in the share market, there is also more gains to be had when leveraging is not considered. The value of shares can increase by 10 times their original amount and some companies just seem to take off. In contrast, outperformers in property see typically 10% or more capital growth in a year. However, it seems with shares that as quickly as they go up, they can come back down. We highlight th...

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode #63 of the Property Planner, Buyer and Professor Podcast, the team discuss "Setting yourself up to purchase with confidence and why getting your pre-approval in place is more critical than ever", as Dave, Cate and Pete discuss: Weekly market insights 1. Economic wins driving our recovery Australian Bureau of Statistics data released last week reveals why property values have been taking off since October as the economic & property upturn continues at record pace. ASX 200 gained over 10 per cent in November, (a whopping return of 120% when annualised) and is in the top 10 of monthly returns recorded over the last 40 years. Car sales turned positive for the first time in 2.5 years, with 10,000 cars sold and Iron Ore exports hit a record $13.5 billion, already $13.2 billion ahead of the average, a significant boost to the government's revenue, offsetting some of the stimulus and much of China's tariffs in other areas. 2. Property values on the rise over November Dwelling values rose across every capital city, as Melbourne joins the market rebound. The national index increased by 0.8% over November or 9.6% annualised, double the 0.4% growth recorded for October. Darwin and Canberra were the strongest performers, increasing by 1.9% or a whopping 22% when annualised. Regional areas have been the stand outs with a total return of combined capital growth and rental return of over 10.6% over the last 12 months. Banks and economists re-evaluated their projections to be somewhere between 5 and 9% growth for 2021, but we thing that these could be on the conservative side. 3. Holiday hotspots Whilst Melbourne recorded an increase of 0.7% over November, the Mornington Peninsula broke Vic records with a massive 2.2% capital growth for the month. This location has seen strong capital growth since the gates opened and the extensive lockdowns driving the great lifestyle re-evaluation have made the Peninsula an even more attractive place to purchase. 4. Aussies officially out of recession Treasurer Josh Frydenberg announced officially last week that Australia is out of recession. The property market is leading the recovery - as increased values flows into increased confidence and consumer spending. Compared to the recession in the 1990's where unemployment reached 11%, we're looking at revised forecasts of under 8%. Getting your pre-approval in place 1. The current state of the market The Property Planner and Buyer shed light on the flood of enquiries and high levels of interest from prospective purchasers looking to get their ducks in a row to make their next property decision. 2. What's driving the flurry of activity? Affordability is the best it's ever been, interest rates are at an all-time low (and will stay that way for a few years according to RBA Governor Philip Lowe), existing properties have held their value and started to increase, which gives people the confidence to take that next step. 3. How long will it take to get a pre-approval? Trying to get a pre-approval has been difficult since Covid started, banks have had their challenges with an influx of queries from customers looking for repayment pauses, assessment criteria has been stricter than ever before, with new rules implemented for checking (and re-checking) income. The time to have a pre-approval assessed has blown out to 20-30 days with some of the major banks, plus it's worth noting that pre-approvals are the second-class citizen of the finance world. The upshot - it's critical to act now and act...

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode of the Property Planner, Buyer and Professor Podcast, the team pick apart the behaviours of real estate agents that drive buyer's' up the wall and shed light on the method behind the madness, as Dave, Cate and Pete discuss: Weekly market insights 1. Rent-vesting to make a comeback? With interest rates the lowest they've ever been and homebuyers looking at where they will purchase and what they can afford, we expect that rent-vesting will return with renewed vigour. Life is too short to live in a location where you'll be unhappy and more people will turn to purchasing investments. It's never been easier to find neutrally geared properties, to ensure your money works hard for you. 2. All capital cities have increased in the value in the last year After the pandemic dust has settled and now all capital cities have returned to growth, all capital cities have recorded an increase in values over the last year. Perth just made it with 0.04% increase, and Melbourne with 0.7% despite the market retraction. Perth and Darwin in particular have been dragging the chain for years, due to the retracting resources market, so this is certainly positive to see. Some capital cities will, of course, go up faster than others. 3. Vic stamp duty concession The Vic budget has announced stamp duty concessions for any property purchases up to a value of $1M, with a stamp duty waiver of 50% for new residential properties and 25% for established residential properties. The offer will be available for contracts entered into between 25 Nov 2020 and 30 June 2021. This is another factor that we expect will drive strong value growth in 2021. Some questions are yet to be determined, for example, whether you can double up on concessions including first home buyer discounts. Agent behaviours that buyer's don't like 1. Why would an agent leave a price tag off the listing? This comes down to understanding what is market centric for the area that you're purchasing in. The trio reveal the reasons why the listing may not include a price tag and how this could present a hidden opportunity to take advantage of. 2. What is the psychology behind underquoting auctions? While this may cause endless frustrations for purchasers who repeatedly miss out, there are reasons why agents adopt this practise. The trio discuss some of the quirks of each state, what the legislation dictates, and how buyers can overcome this hurdle if it strikes. 3. Why do some agents talk in riddles when asked about a price tag? Ultimately, the agent does not work for you, their job is to get the best outcome for the seller. This means that you will be sometimes find yourself on the front line of many well developed, tried and true negotiation tactics. 4. Why is it naïve to assume an agent will negotiate exclusively with you? Whilst it may be frustrating to think you've put in a winning offer, only to find out hours later that another buyer has come over the top of you, this is the agent doing their job. The more people who are involved, interested and willing to purchase, the better outcome the agent will secure. Rather than being sour grapes about competition, buyers should be on the front foot, quizzing the agent prior to submitting their offer to explore how the agent intends to deal with any competing offers. 5. Why do agents shop around after receiving a firm offer for purchase? Encountering competition from other interested buyers is part and parcel of the home buying...

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's market update on the Property Planner, Buyer and Professor Podcast, the team analyse the factors playing out in Australia and abroad that are shaping our economic recovery and property market growth, as Dave, Cate and Pete take you through: 1. All aboard as the last of the big banks revise their property forecast UP for 2021! ANZ is the last of the big 4 bank dominos to fall, and revise up their previous gloomy 2021 predictions for the property market. As we shared in April, we expected the market to fall by less than 5% and in early October we predicted 10% + growth in 2021, and more to come in 2022. Now the banks and other economists have adjusted their views. 2. The peak to trough fall in values from Covid well within our predicted 5% band The impact of the Covid pandemic on property values from peak to trough was a modest decline of 1.7% for the entire Aussie property market and 2.8% for capital cities. CoreLogic data tells us that the Melbourne market bottomed on Oct 18 and the Aussie market a week earlier. In the Podcast we called the inflection point in late September due to data lag. Once again, many analysts have egg on their face, predicting cataclysmic price falls. Perhaps we need to have a Podcast on why macro- economic experts still do not understand the true drivers of the residential property market! 3. The Melbourne property market has joined the party. Melbourne property values are surging with CoreLogic showing growth in values since mid to late October, auction clearance rates surpassed Sydney on the weekend and all signs point towards a larger recovery, because of the larger fall and Melbourne was on a tear leading into Covid. This has been playing out at the coal face since the start of October. 4. The kiwi property market, a look into our future? The New Zealand government went hard and fast locking down to stamp out Covid. The effective eradication of the virus along with significant stimulus and with interest rates has resulted in median property values rising a whopping 11.1%! This trajectory means that the Reserve Bank of NZ is talking about macro prudential measures, such as restricting LVRs to slow down the property market already. We have predicted this kind of intervention will be on the cards for Australia towards the end of 2021 or into 2022 as APRA has proven it works. 5. We explain some key reasons why we predicted property values would surge For starters, debt serviceability is the lowest it has been since 2001. Interest repayments as a share of total household incomes are the lowest they have been since March 2002. The Australian property market has provided zero net capital growth for about four years now. The unfortunate reality is that despite so many people having such a difficult time, many of them were young people in part-time and casual work and not on the property ladder. A larger cohort of people have the greatest level of savings on record and benefited from stimulus which they can now deploy in investments. 6. The repeal of ASIC's Responsible Lending obligations is looking increasing likely! At the AFR Banking and Wealth Summit during the week, treasurer Josh Frydenberg ratcheted up the pressure on regulators to ensure they played their part, which acting ASIC chairwoman Karen Chester indicated she had heard loud and clear. The ASIC chairwoman painted the picture of a clear pivot of ASIC's position and it provided another sign that the Morrison government will ensure that the recovery is not hampered by lack of access to credit. 7. Why property value increases will not be halted by the end o...

https://propertyplanning.com.au/propertyplannerbuyerprofessor/ In this week's episode of the Property Planner, Buyer and Professor Podcast, the team conduct a crash course on "How to navigate the demographic statistics that will help you identify an up and coming suburb", as Dave, Cate and Pete take you through: Weekly market insights 1. Melbourne market is moving Records have been set and houses are flying past the reserve, Melbourne is hot on the ground and quickly moving into recovery. 2. Consumer confidence has jumped to a seven year high The Westpac Melbourne institute "time to buy a dwelling" index surged 8 per cent to 132 points - the highest reading since November 2013. Often with investing, you need to go against the grain. That means investing when everyone else is fearful of investing. If you're doing it when everyone else is doing it, you'll be paying more than you otherwise would have. 3. Australia has surpassed the US for the largest house sizes in the world! Spurred on by the pandemic and lengthy lockdowns, the average size of our homes have increased predominantly through the increased number of renovations, which has also been supported by the government HomeBuilder stimulus grant of $25,000 to build a new home or substantially renovate an existing home. The virus crisis has been driving the 'great lifestyle re-evaluation' phenomena. How long this will last post a vaccine is unknown. A side effect of increasing the foot print of our homes is increased median property values. Deep dive into demographics 1. Occupations, education and incomes Identify the key data sets the professionals look at, and how to use them to analyse whether gentrification is on the cards. And importantly, which data sets to ignore. 2. Rental properties Spotting the trends in tenure and weekly rental payments that will steer you in the right direction. 3. Mortgage monthly payments The trio explain what percentage of household income mortgage repayments should make up and why is this an important factor to look at. 4. Usual address and internal migration How many people lived at the same address 5 years ago and what does this mean? Who is moving in and who is moving out? 5. Dwelling growth How many new dwellings are being built and is this a positive or negative indicator of gentrification? 6. Population Growth Taken at face value, population growth is one of the stats that can lead you to believe a location is gearing up for massive capital growth. The trio explain how to treat population growth and what indicative changes to look for. 7. Going to the suburbs Don't forget to take your eyes away from the numbers on the paper and visit the location. What are the signs that a location is attracting attention? Look out for fancy eateries and even fancier pooches on parade. 8. And of course, our 'gold nuggets'! Visit the show notes - https://propertyplanning.com.au/how-to-spot-an-up-and-coming-suburb-understanding-demographics-and-statistics/

http://propertyplannerbuyerandprofessor.com.au/ In this week's episode of the Property Planner, Buyer and Professor Podcast, the team delve into the planned upcoming changes to responsible lending legislation and what this will mean for the property and mortgage market, as Dave, Cate and Pete take you through: Weekly market insights 1. Property values continue to climb. Despite the economic recession, property values have remained resilient. We expect strong activity to continue right up until the 24th of December and into the new year. 2. Beware the data lag. As property data is collected at settlement, we typically see markets shift faster than the data comes through. The increased time for approvals and many homes under 'subject to' clauses means that data received is even further behind the actual date of the sale. 3. Record number of first-time buyers and mortgage approvals. First home buyers have flocked into the market with more people than ever before getting their foot in the property door. Mortgage approvals have also hit high levels, creating the perfect storm for fervent market recovery. Supply is starting to come back on board, which could slow down the growth in property values, although with the rate of new market entrants and positive buyer sentiment, this is questionable. Responsible lending repeal •What is responsible lending and when did it begin? Post the GFC there was a crackdown in high-risk lending, which led to responsible lending obligations being legislated by the Rudd Government in the National Consumer Credit Protection Act 2009 (Credit Act). The trio translate the complicated legalese of the current obligations to simple terms. •The reasoning behind the repeal. The Property Planner, Buyer and Professor delve into the purposes of the repeal and whether it is likely to be effective at meeting the government's goals. •When did applying for credit get tough and what instigated it? Over the last 10 years a litany of cascading events have resulted in a gradual creep of lenders and borrowers being faced with overly prescriptive, complex and onerous processes, which really gained pace from 2014 when APRA started to put limits on lending and calls began for a Banking Royal Commission. •What are the changes in lender behaviour we're likely to see? The reduction in red tape is likely to see many positive impacts in speeding up the process of approvals, but be warned, the model will switch from 'lender beware' with a 'borrower responsibility' principle. What does that mean for your loan application? •Borrowing capacity set to increase. Reduction in assessment rates could see borrowing capacity skyrocket, opening the door for prospective purchasers to up their limits. •Gazing into the property market crystal ball. The Planner and Professor make their predictions 2021 and 2022. •Consumer protections, who will be looking after you? With the litigious ASIC out the door, the APRA watchdog will be the sole enforcer of responsible lending obligations. But never fear, the freshly legislated best interest duty will be picking up the slack. The trio explain how. •How does this relate to mortgage brokers? Interestingly, a significant amount of paperwork that mortgage brokers are currently required to complete and provide to clients could be scrapped entirely. Watch this space. •What other areas are the government targeting? Key areas of reform that haven't received as much media spotlight are business loans and non-bank lenders. We cover off on the planned evolutions to streamline business lending and further protect vulnerable consumers by raising standards for the second and third tier lenders. •And of...

http://propertyplannerbuyerandprofessor.com.au/ In this week's episode of the Property Planner, Buyer and Professor Podcast, the team delve into how to prepare for auction so you can put your best foot forward, as Dave, Cate and Pete take you through: Weekly market insights 1. The recession has ended The September quarter has seen an inflation rise of 1.6%, the largest quarterly jump in 20 years, marking an official end, (by definition) to the June quarter recession. 2. Good quality properties are going well above the reserve On the ground, the Australian property market is hotting up and particularly for houses. CoreLogic figures released after recording on Friday 30th October show that all capital cities (bar Melbourne) have increased in value over the month of October, marking the turn-around for Sydney which has increased by 0.1% after a drop of 0.3% in September. Melbourne continues to decelerate in value decline with a drop of only 0.2% in October from 0.9% in September. 3. 'Subject to finance' a key component of missing out Ensuring that you have a fully credit assessed pre-approval in place is now as critical as ever, as we see many buyers miss out because they're not willing to take on the risk of not having a 'subject to finance' clause. Preparing for auction 1. Inspecting and appraising - beware of underquoting! Don't get unravelled by properties selling above the price guide given by the agent. The trio share how to work out a more accurate understanding of value. 2. Budget setting - home buyers v investors There are key differences in the budget setting process for home buyers and investors to be aware of when setting a walkaway price. In the end, it should all come down to the numbers and factoring in 'emotional premiums' where appropriate. 3. Purchase price shouldn't be determined by borrowing capacity Many purchasers come undone with buyer's remorse if they've allowed their upper limit to be dictated by borrowing capacity and haven't appropriately budgeted. The trio share how to work out your purchase limit so that you don't blow the budget and lose sleep! 4. When can you find out the reserve? The Planner, Buyer and Professor share the top tips for how to approach an agent to get the insider intel (that they're not required to give you!). 5. Auction twists Pre-auction offers, probate, family law, off the plan and different schedule auctions - find out the twists that can impact how the auction is conducted. 6. When to kick-off an auction with a low-ball offer The trio share the psychology behind low-ball offers and when to use them. 7. Due diligence Having the contract reviewed by your solicitor and conducting a building and pest inspection are critical steps to ensuring that you make property decisions that you don't later regret. Buyer beware! 8. Finalising contract terms How should you pay the deposit to the agent if you are successful and what is the settlement date? 9 And of course, our 'gold nuggets'! Visit the show notes - https://bit.ly/3oV2bWu