Highlights from this week:
- The stats buyers agents use to access property
- When is the best time to invest?
- Easy in – hard out property investment
- A report that helps access a property
- Just do it – even if it does not fit all the criteria
What stops investors in their tracks? – Josh Masters
Kevin: I’ve given my next guest somewhat of a difficult mission. I asked Josh Masters from BuySide.com.au to tell me what he figured was the single biggest mistake property investors make. He came back and said “Well, that’s actually pretty hard because I reckon there’s more than one.”
Good day, Josh. How are you doing?
Josh: Very well, Kev. How are you?
Kevin: Good, mate. You could probably put it into several different categories. Let’s talk about a few. What do you see are some of the common mistakes?
Josh: I definitely can put in a number of categories depending on where the property investor is at the time. I did feel it was a bit of a curly one because you said “Give me one,” and we can go into the details later, but I think the over-arching one always comes back to mindset.
I don’t care what industry you’re in or what you’re trying to achieve; if you don’t have the right mindset, you’re dead in the water. A lot of it comes back to fear of failure, fear that we’ll make a mistake.
Personally, I don’t think enough people invest enough in property or shares, or whatever they do, to look after themselves for the future because that’s essentially what we’re trying to do. We’re trying to create a life for ourselves, and I think a lot of people hold themselves back.
We know that only probably 20% of the population own a single investment property, and it drops off dramatically after that. But one property is not going to make you rich, so what are people doing? Is it a fear that they will make a mistake in the future, that they’ll make a wrong choice? It effectively stops us from taking action, and that’s what I see as the biggest thing in my line of work as a buyer’s agent.
When people come to me, they just don’t know what to do, how to go about it, and they’re looking for advice. But many of them stall because they get in a little bit of a panic. They go through that paralysis by analysis, and it really holds a lot of investors back from really achieving what they wanted to do.
Kevin: If they really think about it, to be cautious is one thing and to analyze, you have to do that to do your research. But I think after a period of time, Josh, I think people analyze so much, they actually start to look for reasons not to do something as opposed to looking for reasons to do it. You can actually over-analyze any situation.
Josh: I agree. And I’ve been there myself. Sometimes a lot of us have that perfection mode switched on, and we have to pull that back a little bit and just say we might not find the property that’s ten out of ten, but I’ve invested in properties that are sevens or eights out of ten and they’ve done phenomenally well. But the difference was I invested and the next guy didn’t, and two or three years down the track, that next guy is probably sitting there going “Is it the right time to invest?”
This is where that timing the market comes into play. Everybody knows that it’s not timing the market; it’s time in the market and those sort of clichés that we all know are true, but it’s the fear of failure that stops us taking action at the right time.
I think sometimes it’s better to buy an investment that’s just okay and will probably do medium to well rather than not getting into the market at all.
Kevin: I know we’re talking here about investors, but even with home buyers looking for a home for the family, if you go in with too big of a checklist, you’re effectively looking for ways to knock properties out as opposed to knock them in.
So, if you can find something that’s about 75% – okay, so maybe it needs maybe a deck or it needs some repairs or it needs a new paint job – that’s all stuff you can do to improve it, but it shouldn’t be a reason for you not to buy it. In other words, you’ll never, ever buy probably the perfect property, but you have to find one that’s close enough, and then you mold it to yourself, Josh.
Josh: That’s right. I talked to my grandfather about when he bought property back when he was really young. It’s really great to go and talk to old guys like that who have been there and done that sort of thing.
Kevin: You mean like me.
Josh: I wasn’t going to say that, Kev! But someone with experience, because it really puts in perspective the journey that they’ve been on to get to where they are today, and you realize that the property they bought back when they were 24 or 25 and then moved into for five to ten years, it was just a stepping stone.
Once people start to recognize that and relax a little bit around that, they realize that they don’t have to buy the perfect property today. It doesn’t have to be in the absolute best location they’ll live in forever. Then they start to relax into it, and they can buy something that’s good enough for the moment that they can afford and get into, and they can build on that.
Kevin: Josh, here’s a bit of old-person wisdom for you. Sometimes the only thing that you really need to get right the first time around is your marriage. All the other stuff you can change, but if you get the marriage wrong, I tell you what, it’s going to cost you a fortune.
Josh: I agree.
Kevin: Would you say that’s the single biggest? It really comes down to mindset, doesn’t it? You have to have the right mindset, you have to do your research, but then you have to take some action.
Josh: I agree. I think taking action is the single most important fundamental that investors need to put into their belt in the first place. Of course, once we get in there, there are a number of things that I see a lot of investors see. They get emotionally involved. They’re waiting for the perfect time in the market.
Everybody wants to know what the market is doing today, but does it really matter? We have some great fundamentals out there right now – low interest rates, etc. – but still people are balking. I think a lot of those things, we can dive further into it when we go to select a property.
I see a lot of people making mistakes around choosing the right kind of property but then disregarding the supply in the area. I think once you get into actually selecting a property, supply is one of the biggest fundamentals that people will make as a mistake in not recognizing how many units or houses are being built in that area or the surrounding area that will affect prices moving forwards – for example, development in the pipeline.
Kevin: Yes, in fact, a little bit later in this show I’m going to be talking to a mate of yours, Bushy Martin. He’s coming up later in the show, too, and in my conversation with him – a couple of old guys talking I guess – he said to me “You know Kevin, the best time to buy property was 20 years ago and the second best time is to do it today.”
Josh: That’s right.
Kevin: Pretty true.
Josh: It’s good wisdom.
Kevin: It is very good wisdom. Hey mate, I’m going to leave it there. Thanks for your time, Josh. Josh Masters is from BuySide.com.au and he is a great guy to talk to. Thanks for your time, mate.
Josh: My pleasure, Kev. Thanks for having me.
Buying property with friends – Margaret Lomas
Kevin: I guess we all do struggle to get into property in whatever way we can, and sometimes it seems like a good idea to do it with a friend or a family member. But I guess you need to structure it properly and be aware of what you’re getting into. I want to discuss this now with Margaret Lomas from Destiny Financial Solutions.
Good day, Margaret. How are you?
Margaret: I’m good. How are you going?
Kevin: I’m fantastic, thank you. This is the first time we’ve spoken this year, so Happy New Year to you.
Margaret: Same to you. What a great year it’s going to be.
Kevin: Well, I hope so, too. We’re planning it, and I know you and I have a few ambitious plans that will unfold a little bit later in the year. But I’m looking forward to working a lot closer with you, too, Margaret. Thank you.
Margaret: It’s going to be great.
Kevin: It will be fantastic. Margaret, just to answer that question – it’s a question that I get asked from time to time or I see people do it – what should people be aware of if they’re going to buy a property with a friend or relation?
Margaret: I completely understand that people get frustrated at not being able to get into the market, and it seems a wise idea at the outset, but generally, I’ve found that a lot of problems can arise when you choose to buy a property with either a relative, so a brother or a cousin, or a friend. I’ll quickly outline what those problems are from my perspective.
The first thing is it’s always great at the outset – you both agree, “Yes, this is what we’re going to do” – but circumstances can change for people as you go along. What happens if you buy a property with someone else, it’s going along fine, but their circumstances change and they suddenly need to disinvest at a time that you’re not ready to come out yet?
Your time horizons are very rarely exactly the same, and even if they are at the outset, they can very quickly change for someone else and cause a little bit of stress and anxiety when you can’t get out when you want to.
That’s one of the problems, but there’s a bigger one than that, and that is the fact that from the bank’s perspective, even if you set up two separate loans, one each, on the same security property, the bank virtually is taking a guarantee from you and a guarantee from them guaranteeing each other’s loan.
What that means is that if you go on and then want to buy a property on your own and continue your own investment portfolio, you may not be able to borrow the money because the bank considers that you’re jointly and severally responsible to the entire debt. While they’ll only accept half the rent as your income serviceability, they’ll assume you owe the whole debt, and that can eat into your serviceability.
Of course, the last problem – there are many more, but the last major problem – is that if that property grows in value really well and you want to leverage against it, you can only leverage again with that other person, because they’re tied up on the title with you and the equity is also theirs.
If you do want to be able to leverage out of equity into more property and continue to build a big portfolio, you’ll have to leave that one that you have with someone else out of the scenario. You can’t leverage with them.
Kevin: All of those problems occur no matter who you go into partnership with, but I guess it’s made even worse if it’s a friend or relation, because a great way to wreck a relationship is to go into any kind of partnership – unless it’s very clearly documented at the start, Margaret.
Margaret: I think that’s the point. The point is they’re your friends now or they’re your relatives now. If it’s a friend, okay, you might have a falling out with them – and I’ve seen many fallings out with friends over property. You might have a falling out with them. Well, that’s fine because it was a friend and now they’re no longer you’re friend.
But you don’t want to fall out with your brother or your sister over it. You know what it’s like. It’s bad enough and once things start to get hot under the collar, you feel awkward, and you can’t have very major fallings out over this – and I’ve seen that happen.
The best way to avoid it is to not do it at all. But the second way to avoid it if you’re really determined to go into this with someone else is make sure that before you even begin, you draw up an agreement that covers exactly what you plan to happen if… And you have to think about all the ifs.
Come up with everything you can possibly think of: if someone dies, if someone gets sick, if someone changes their mind and wants to get married, if someone wants to get out before someone else. Really think about all the ifs and outline how you will deal with that if the time comes. Then sign off on that document. That document then definitely can outline for you what the future will be if any of those things happen.
Kevin: Great advice. Always see a solicitor because they can foresee all those things that you won’t. In that conversation with a solicitor, too, they can broach things with the partnership that you might not be able to do individually, Margaret.
Margaret: Absolutely. There could be a whole lot of things that you have to think about. You have to go as tenants in common, and understand that if you are tenants in common, the other party technically can sell their share to anyone who they like – with or without your permission – but you still need that tenants in common.
If you’re joint tenants and one of you dies, then your share automatically goes to the other party, and you might not want that to happen if it’s a friend and you’re married to someone else. You want your portion going to your spouse and you need a tenants in common arrangement to make that happen.
Kevin: Very good advice from Margaret Lomas at Destiny Financial Solutions.
Margaret, thank you so much. I look forward to working with you this year, and thanks for your time this morning.
Margaret: Thank you for having me.
How to know what the property market is doing – Brett Warren
Kevin: I want to get a description now on the meaning and importance of days on market and seller discounting. We’ve spoken about it before – days on market and seller discounting – how it’s an important factor that you should consider when you’re looking at buying a property, but also, as a seller, for you to understand what sort of market we’re in right now.
I’m sure that Brett Warren, who is a buyer’s agent from Metropole Properties, quite often has to look at these things and understands the importance of them. He joins me to talk with me about it.
Good day, Brett. Thanks again for your time.
Brett: No problems, Kevin. How are you going?
Kevin: Good, mate. How often do you refer to these? Is it something that you’re commonly looking at, and what indicators does it give you?
Brett: Good question. It definitely is something we look at. Obviously, we don’t want it to be something we look at all the time and every day, but it’s probably important to keep an eye on these monthly or at least quarterly to understand what’s happening in the markets. Are the numbers getting larger or smaller, and the trends we’re starting to look for, and things like that.
Kevin: Let’s talk about them one at a time. Days on market: how is that determined, and why is it important?
Brett: That’s obviously roughly, the time it takes for a property to sell. I think it was important that at the start of the introduction there, you distinguished that it’s obviously good for investors and people who are looking to buy property, but also good for sellers, as well, not only to understand the marketplace but one of our services is recommending the right agent to sell with.
One of the tools we use is the actual agent’s days on market, which can be found. If you’re looking to sell through an agent who has high or low days on market, that can help you make a decision, which is good.
The other side of things is from an investor, so obviously, if we’re starting to see days on market shorten month to month, quarter to quarter, then there is obviously more demand in that suburb. Prices are probably going to be starting to move again, and that’s really important to understand from an investment perspective.
Kevin: I guess from a seller’s point of view, too, if they can understand how long it’s taking to sell a property in a particular market, it also tells them about how much competition they’re going to have when they do list, isn’t it?
Brett: Yes, absolutely. It gives them some heart, as well. If it doesn’t happen in the first week or two, they’re a bit more comfortable to know it may actually take four or five weeks. That gives them a bit of comfort as well and probably takes a bit of pressure off the whole situation.
Kevin: In a normal market, how long does it take to sell a property? What should a seller expect?
Brett: Good question, Kevin. Last year, just for an example, the statistics last year for the average Brisbane house, the days on market was about 34 days, and for apartments, it was almost double that; it was 61 days. That’s an average from last year, and obviously with the apartment over-supply, it almost took twice as long for an apartment to sell.
Kevin: You raised an interesting point there earlier, and that is the power of the agent. When you are looking at employing an agent, it’s good to ask them “How long is it going to take, do you think, to sell my property? What’s the average selling time in the area? And what is your average selling time?” just to see how astute they are and their understanding of those numbers, as well, Brett.
Brett: Most definitely. Also, there’s actually information now on RealEstate.com. You can click on the “Find an Agent” part, and that’ll actually give you some of that information you are talking about, but very, very important, if you’re selecting an agent, to understand that.
Kevin: Let’s talk about seller discounting. What is it, and how important is it?
Brett: Seller discounting is important. It gives us a good indication if the prices are being met that are being set and things like that. If there’s a big discount in an area or if it’s slowly getting larger and larger, that means that there is quite a gap between what people are asking and what it ends up selling for.
We need to understand that and monitor those trends. If those price discounts are getting shorter and shorter and getting closer to the asking prices and selling for the asking prices, and in some cases, over, then that’s a good sign that that area is starting to improve. Conversely, if there’s been a really hot area and it’s starting to discount further and further, then that may mean that it’s time to move on.
Kevin: One of the important reasons why a seller should understand seller discounting is because every seller wants more than their house is worth, so therefore, they’re going to build a little bit of fat into negotiation. But if you build in too much fat, you’re going to lose the pool of buyers who are in the market right now, Brett.
Brett: Yes, definitely. Also, agents are quite smart and savvy, and they’re trying to get the best prices for their client as well, so when prices do move and they continue moving, it actually gets to a point where they won’t continue moving. But if an agent is not quick enough to re-adjust and they keep setting the price and the bar higher and higher, those discounts become more and more, and it becomes quite a gap.
Kevin: What’s a normal discount level?
Brett: Again from statistics last year, Kevin, the average house price, the discount was about nearly 4%, and for apartments, it was nearly 5%, so again, a bit of a discount there. But on a $600,000 property, it’s almost $25,000.
Kevin: That’s a lot of money, and it’s something that buyers and sellers need to bear in mind. Mate, it’s been great talking to you. Brett Warren is a buyers agent with Metropole Properties in Brisbane, a great font of knowledge, and a good run down there, mate.
Thanks for your time.
Brett: Thanks, Kevin.
Property Investment Strategy – Bushy Martin
Kevin: I was absolutely delighted to receive a book in the mail called The Freedom Formula. I had been talking to the author for some time prior to that, Bushy Martin. Bushy joins me to have a bit of a conversation about the book and about lifestyle generally.
Good day, Bushy. How are you doing?
Bushy: Fantastic, Kevin. Yourself? It’s a real honor to be able to have a chat with you today, mate.
Kevin: Thank you, mate. I appreciate you saying that. Just a little bit about your business, Know How Property Finance, and there is a website to go to, to get a little bit more information about Bushy, KHGroup.com.au.
I want to give you a website, too, to go to, to get a copy of the book, which has just been released. It’s a been out for about a week, and I was privileged enough to get a copy of it pre-release and have a quick look through. I’ll give you that website to go and pre-order the book. There will be a link inside the commentary with this podcast.
That’s a long-winded way to say good morning. That’s probably the longest introduction I’ve ever done to anyone, Bushy. I don’t know why.
Bushy: Okay, I’ll take it.
Kevin: I said to you before we started this interview that I, quite frankly, didn’t know how to interview you because I just love the book so much. There’s so much in it.
I want to focus on just one very small part of it, and that’s about strategy and mindset because I think that’s such a key thing for any investor, no matter whether they’re in property or shares or finance and money, for them to get that right, Bushy.
Bushy: Yes, I totally agree. I think the issue with a lot of people is we live in a very time-poor world, Kevin, as we all know. Because we don’t get the time to sit back and really reflect on why we are investing in property, that can often lead people to making some mistakes around the style of property, the type of property, how much they spend on the property.
Where I like to start is to turn that on their head and property is actually the last thing that people think about. So, if we focus on the strategy piece – and we call it a “startegy” because we like to get people started on their journey to replace their income through property – then the strategy is really about getting crystal clear about how you want to live.
We break this down in some very simple what we call the freedom numbers. If you work how you want to live, it’s very easy to monetize that and what that lifestyle costs per year. Then we can look at what sort of a nest egg we need to generate to create that income on a passive basis so that you get your time back.
Then if we know what that timeline is – whether it be 5, 10, 15, 20 years – it’s pretty easy then to break it down to your freedom number, which is the number of properties and the style of properties that you need to be investing in.
To give you a really quick example, if $100,000 was enough to give you the lifestyle that gives you the freedom to do what you want when you want, then at a 5% return or the one in 20 rule, that means we need to create $2 million worth of income-producing assets. If you’re break-free timeline is 20 years, then with an average investment property around about $500,000, that means that your freedom number is two investment properties.
The number at the start looks pretty big, $2 million, but if you have 20 years and you invest in the right area with plenty of growth, then two properties is going to be enough to get you there. So, you just start to crystallize that.
I don’t know about you, Kevin, but I always hear this argument about cash flow versus capital growth. Now, if we adopt the approach of looking at where we want to end up, then all you need to do is look at where you are on the capital growth to cash flow curve, and it’s very easy then to adopt the right property tactics to get you there.
In very simple terms, if you are well below what your nest egg number needs to be – so if your current assets are worth less than $2 million in that example I just spoke about – then your focus is on capital growth. It’s not cash flow. If you reach that $2 million mark, then it’s about transitioning your portfolio into a cash flow exercise.
So, it attempts to de-mystified this argument around whether it’s cash flow or capital growth. It’s a matter of initially focusing on capital growth, and then moving and transitioning to cash flow at the time when you hit your nest egg number.
Kevin: I know in your book, you and your wife, Sonya, talk about living by design. That’s really what you’re describing here, that you’re actually designing your life – but there is no one size fits all, is there?
Bushy: No, there isn’t. That’s the beauty of it, I think, Kevin, because everyone likes to live differently. Everyone has different goals and expectations. Everyone has different timelines on when they would be in the position where they don’t have to work anymore.
The “living by design” exercise is something that’s probably born out of my architectural background, because as an architect for many years, you’re used to designing the future, visualizing what it looks like, and then making it happen. It’s something that we pretty much took for granted.
Sonya and I, when we first got together, we were on the bones of our behind actually. We had both come out of divorces, were starting again in our early thirties. We sat down and had a good look at how we wanted to live and went through that process I just spoke to you in relation to the freedom numbers.
The good thing about that is that’s become the real magnet that’s helped us stay the course, because we’re really clear on where we wanted to end up to be. That meant we weren’t distracted by every next shiny listing that hit the property market, which often occurs, again, as you would know better than I, Kevin.
The sad thing about it for a lot of property investors is that I think that over 50% of them sell the property within the first five years, and a lot of that is because they don’t have any clarity around where they’re heading.
If you live by design, you know where you’re heading, it acts as a magnet, but it also acts as a compass so that as things hit the desk, you’re starting to make decisions based on whether it’s going to help you get to where you want to be or not. It’s a good filter to make sure that you’re not being distracted continuously by everything else that’s around the place.
Kevin: You talk in the book, too, about two key attitudes, I guess. One is persistence and the other one is patience – understanding this is going to take a long time. It can take a while; it’s not going to happen overnight. But you need to be persistent once you have that plan. You cannot have persistence unless you have that strategy, unless you have that vision and that map in front of you, can you?
Bushy: Absolutely true, Kevin. And you pick up on two very key things there, the patience and persistence. Unfortunately, in our “instant iPhone everything” world today, the patience and persistence muscles don’t get a lot of work, and the end result of that is that people have forgotten success in anything actually takes time. If we treat time as our friend and know that good things are going to happen if we stay the course, then we’re less likely to jump ship mid-stream.
I don’t know about you, Kevin, but my folks came off the land, and they were used to planting a seed today, cultivating it, weeding it, taking it through the hot seasons, the droughts, and the weather to produce a good-quality crop after a period of time.
Well, our thinking needs to return to that because rather than expecting to plant the seed tomorrow and then reap the fruit tomorrow, which is pretty much how a lot of us live these days at the touch of the smart phones, what we need to be doing is getting back to that long-term approach.
And when I say “long term”, if we’re going to go through a safe, affordable easy approach with property, as you know, Kevin, the property cycle is anywhere between 8 and 15 years depending on what’s happened. So, you really need to be into the market for that long to really enjoy the full fruits of a complete cycle.
Kevin: I love what you’re talking about there, but I quite often think of life a bit like growing a tree. It’s the weeds that grow quickly; the quality trees take time. And there’s never, ever a better time to plant a quality tree than today and then start nurturing it.
Bushy: Yes, what’s the old saying? When is the best time to plant a tree? Twenty years ago. When is the second-best time? Today.
Kevin: That’s right.
Bushy: I absolutely, totally agree, mate. That’s where that mindset comes in. If we get our expectations right around success is going to take a while, and yes, I need to do my research, I need to be getting the right property in the right areas with all the right supporting growth factors that are going to help me get there. Once we’ve done that, though, we need to get out of the road.
We have a habit of wanting to play with things too much in this day and age, Kevin. Because we’re expecting this overnight success, we start stuffing around with things. Whereas if we make the very carefully calculated decisions early as part of that strategy and then once we’re into the market, we get out of the road and focus on our careers and our work and spending time with friends and family, and letting time, the tenants, the taxman, and capital growth do its work, then that’s where you get the best results, mate.
That’s certainly been in my case, that’s for sure. We’ve gone from ground zero to a portfolio of 12 properties over the last 20 years, and it now gives us a fantastic lifestyle, but most of that growth and most of the rewards have come in the last five years, Kevin.
Kevin: So true, mate. The book is called The Freedom Formula. It’s written by Bushy Martin, who has been my guest.
Bushy, tell me what we can expect to see or pick up inside the book? How would you summarize it?
Bushy: The book is really written for time-poor professionals who have an interest in property but don’t have the time, don’t have the knowledge, they don’t know who to trust, and they don’t know where to start.
It really takes you through a step by step process from woe to go and how to build a remote-control property portfolio that will replace your income over time while you continue to focus on growing your career, your income, and spending your time with friends and family.
It demystifies all of that. It gives you a really good baseline to be able to then judge where does property fit into the equation for you. It gives you the step-by-step process, which is the Income for Life Ladder that I describe in the book, that will take you through that, and it also points you in the direction of the right expert and elite team that you need to surround yourself with to make that happen.
Kevin: Yes, it’s a great read, and I strongly suggest you get it. The website to go and order it is BushyMartin.com.au. It’s called The Freedom Formula, and as I said, I strongly suggest you get a copy of it.
Mate, I want to get you back into the show a little bit more often because you make a lot of sense. Great talking to you, Bushy.
Bushy: You, too, Kevin. I appreciate your time. You have a great day.
Measuring long term risk of property investment – Vanessa Jones
Kevin: Here’s some good news if you’re a buyer of a property and you want to know exactly how it’s going to stack up in the market. Buyers can now instantly receive a comprehensive analysis report that measures current and historical data and dozens of variables against a broad range of risk factors, ultimately, scoring the property’s risk potential from minimal to high.
This is in a program called RiskWise, and it uses some very advanced algorithms. Joining me to talk about this from RiskWise is Vanessa Jones.
Vanessa, firstly, tell me what is an algorithm?
Vanessa: Hi, Kevin. Thanks for having me. An algorithm is a process that is based on a set of rules but is done in a mathematical way to solve a problem or question. In our case, the algorithm is based on dozens of data and information variables in order to assess the risk associated with residential properties.
Our algorithm is a method to calculate certain risk factors and to reach a certain conclusion. It takes on different variables – such as economy, direct housing, jobs, etc. – and we put them all into a mathematical equation, which promptly gives you a result at the end of the day that tells you whether the property is high risk, low risk, or medium risk.
Kevin: Wow, that sounds very complicated, Vanessa. If I put an address into your website, what do I get back from you?
Vanessa: You’re going to get a detailed report that first shows you on a very clear graph, the risk rating of your property, both as an equity risk and a cash flow risk. You also get a detailed description of the risks associated with the suburb and the specific property that you are buying. In other words, why it is a good thing to buy there or why it may be a high-risk investment.
Kevin: Vanessa, I imagine you’d be asking for quite a bit of information because one of the problems is garbage in, garbage out. It’s dependent on how much information is there.
Vanessa: Yes. One of the problems that a lot of these programs have is that the information is too generic. In many cases, they work at a suburb level not an individual property level. So, we’ve developed a simple approach that uses key property details. It takes only 45 to 60 seconds to enter the information and perhaps a further 10 seconds to submit it. Basically, within a minute or so, you can get a detailed report that delves into much more detail than most other reports.
Kevin: That sounds like a fantastic tool for property investors or property buyers generally, Vanessa. How much does this cost?
Vanessa: The cost depends on whether you are a property professional or an investor. As an investor, you might only want one report, which is $49, or you might be looking at a few properties, in which case, you could buy three reports for $99. But of course, as a property professional, you obviously have to look at a lot more properties, so we actually have packages available. You can get 100 reports for $799.
We just think it’s a great program, simply because of its detail and its depth of information that it looks into by the algorithm.
Kevin: A lot of great advanced algorithms in behind this. It’s actually quite a complicated program. You can get more information and test it out for yourself by going to the website, RiskWiseProperty.com.au.
My guest has been Vanessa Jones from RiskWise. Vanessa, thanks for your time.
Vanessa: Thank you.