{"id":11346,"date":"2017-04-14T03:00:50","date_gmt":"2017-04-13T17:00:50","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=11346"},"modified":"2017-04-14T03:00:50","modified_gmt":"2017-04-13T17:00:50","slug":"what-to-look-for-when-investing-in-the-usa-melbournes-population-set-to-double-in-30-years","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-to-look-for-when-investing-in-the-usa-melbournes-population-set-to-double-in-30-years\/","title":{"rendered":"What to look for when investing in the USA + Melbourne\u2019s population set to double in 30 years"},"content":{"rendered":"<p><b><i><span style=\"text-decoration: underline\">Highlights from this week:<\/span><\/i><\/b><\/p>\n<ul>\n<li style=\"text-align: left\">What do investors need to be aware of if they want to invest in the USA property market?<\/li>\n<li style=\"text-align: left\">Should investors travel to the location to see property before buying overseas?<\/li>\n<li style=\"text-align: left\">The biggest decision you will have to make when buying a property.<\/li>\n<li style=\"text-align: left\">Why a \u2018renovate and sell\u2019 strategy does not always return well<\/li>\n<li style=\"text-align: left\">The bean counter for Australasia\u2019s richest man speaks out about negative gearing<\/li>\n<li style=\"text-align: left\">How will Melbourne cope with a skyrocketing population growth and what opportunities will emerge in the next\u00a030+ years<\/li>\n<li style=\"text-align: left\">The designs that have influenced how we build Aussie houses<\/li>\n<\/ul>\n<h4><\/h4>\n<h4><strong>Transcripts:<\/strong><\/h4>\n<h2>What to watch out for when investing in the USA &#8211; Reed Goossens<\/h2>\n<p><b>Kevin:<\/b>\u00a0 One of the common questions I\u2019m asked through the show is whether or not it\u2019s wise to invest overseas, and no doubt in that conversation, we\u2019ll always talk about the U.S.A. market \u2013 a very hot market in recent times. I am going to talk now to my next guest, Reed Goossens, who is an expert in this field, buying in the U.S.A., and has a website called RSNPropertyGroup.com. I will give you that website again a little bit later if you want to know a little bit more about it. He joins me.<br \/>\nReed, thank you very much for spending some time with us today.<br \/>\n<b>Reed:<\/b>\u00a0 Thanks a lot, Kevin. Good day. It\u2019s great to be here on this show.<br \/>\n<b>Kevin:<\/b>\u00a0 I just wanted to know what investors need to be aware of if they want to invest in the U.S.A. property market?<br \/>\n<b>Reed:<\/b>\u00a0 As International investors, the biggest thing you need to be aware of is obviously the way in which you structure deals in the United States. Being educated on your deal structure, being educated on how you can get your capital into the U.S.A. market, and just being aware that you can\u2019t just walk over there and start buying properties left, right, and center at the flip of a switch. There\u2019s some back-end stuff that needs to happen before investing.<br \/>\nBut by and large, the international investors come to the United States for a couple of reasons. That\u2019s capital preservation \u2013 they look to get their money out of the particular country that they are in \u2013 and they look for a good yield. The U.S.A. offers both those things, and it\u2019s a stable government. And, also having the investment in the green buck. The American dollar is very, very enticing for many international investors from across the globe.<br \/>\n<b>Kevin:<\/b>\u00a0 I do want to ask you about a lot of that back-end stuff before we finish this interview, but at the top level, are there any areas or types of properties to avoid if you are looking at investing in the U.S.A. market?<br \/>\n<b>Reed:<\/b>\u00a0 When I first moved there, as you know and probably as a lot of your listeners know, there were the turnkey $50,000 to $100,000 properties that on paper could earn $600 or $700 a month. Those types of properties, I would definitely steer clear off. Turnkey in general, if you your listeners aren\u2019t aware of it, the profits are stripped out once you as an investor get that turnkey property.<br \/>\nSo, trying to make sure you\u2019re understanding what you\u2019re buying and understanding the numbers behind what you are buying. Just because it\u2019s on paper and it looks good on paper, it might not necessarily mean how it reflects when you are actually operating the property.<br \/>\nWord of caution is if you are looking at any turnkey properties in the United States, then don\u2019t get blindsided by the fact that something is worth $50,000 all in and you can rent it out for $700 a month and think you\u2019ll get a cash flow of $300 to $400 dollars a month. Just take it with a pinch of salt and make sure you understand what you are buying and understand all the associated costs with running that property, particularly from far off, from abroad.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, you can\u2019t beat getting your boots on the ground. For that reason, do you think investors should travel to the States to see properties before they buy?<br \/>\n<b>Reed:<\/b>\u00a0 100%. I always, always recommend my investors, whether they are investing with me or if they just have questions or if they are investing with someone else, get to the United States, get some boots on the ground, get a feel for what you are investing in. And then you\u2019ll be making a more educated decision.<br \/>\n<b>Kevin:<\/b>\u00a0 Let\u2019s talk about loans and financing. Are Aussie lenders warm to the prospect of investing in the U.S.A. or do we need to get to an American lender?<br \/>\n<b>Reed:<\/b>\u00a0 I haven\u2019t come across any banks in Australia that will lend. HSBC does have a program for high-net-worth individuals where they can leverage existing portfolios in their country of origin \u2013 i.e. Australia \u2013 but that has to be worth I think it\u2019s about $1 million. The average investor going to United States will probably buy their properties all cash or they\u2019ll invest with a partner on the ground who can get leverage, which is what RSN Property Group does.<br \/>\nBut in general, you also could do some other lending but the interest rates are a typically little bit higher, and that\u2019s from private individuals who will probably lend you between 7% and 8%, maybe 60% loan-to-value on a property. Again, there are not a lot of options there for international investors, but if people are interested, the options that are available, I can definitely talk to them offline if they want to reach out.<br \/>\n<b>Kevin:<\/b>\u00a0 And we will give you the website again in just a moment to do just that.<br \/>\nHow different is the loan and purchasing process from what we\u2019re used to here?<br \/>\n<b>Reed:<\/b>\u00a0 Look, it\u2019s pretty similar \u2013 with different names for different things. You have a title company that is involved, making sure that the background on the property, there\u2019s nothing owed on the property, there are no liens against the property, making sure that is all clear.<br \/>\nYou do the same sort of things. You have to get building inspections. The bank will inspect if everything is all clear. You get a clean title, you go to the closing table, you close the property, the transfer of title, the deed is into your name, the bank brings the funding to the table if you\u2019re getting bank financing, and then off you go. You\u2019re off to the races in terms of having a lots of new assets that will either cash flow for you or you\u2019re using it for a particular tax haven or capital preservation.<br \/>\nSo, very similar because it is a Western country, obviously very similar to Australia. And again, there are slight nuances, but in general, it\u2019s the same sort of process.<br \/>\n<b>Kevin:<\/b>\u00a0 Being the same sort of process, could you do it with an Australian solicitor, or should you use an American solicitor.<br \/>\n<b>Reed:<\/b>\u00a0 No, always use your American solicitors, just because of the state laws. They vary from state to state, so if you\u2019re buying something in Texas, there might be slightly different state laws compared to if you are buying in, say, California. I always recommend to try to get an attorney who is boots on the ground in that particular state, who is very knowledgeable about those state laws.<br \/>\n<b>Kevin:<\/b>\u00a0 When we get into an investment property in the States, as an example, what rights can be made about having the property maintained and well managed?<br \/>\n<b>Reed:<\/b>\u00a0 There are couple of options there. You can get a third-party property manager, which is good. They are usually doing a very good job, but you also have to remember what they\u2019re getting paid \u2013 going back to that turnkey property model. If they\u2019re only getting any 5% or 6% on your gross income, they may not prioritize your property as highly as something else.<br \/>\nBut if you\u2019re partnering with someone who is boots on the ground in that market, that is probably the best option to do, or have someone who is part of your team who can go past the property and make sure things are running smoothly every now and then, so that you get a peace of mind.<br \/>\n<b>Kevin:<\/b>\u00a0 What are the standard fees for managing a property?<br \/>\n<b>Reed:<\/b>\u00a0 It depends. If you\u2019re in the single-family market, probably 7% to 8% of the gross income. If you are in the commercial space, large multi family, which is what I\u2019m in, you\u2019re probably looking at more than 3.5% to 4%, but you\u2019re talking about 100 plus units there.<br \/>\n<b>Kevin:<\/b>\u00a0 The website is RSNPropertyGroup.com. No doubt, there is a lot of information there for you if you want to find out a bit more. But Just before I let you go, Reed, can you please tell us if there are any research tools that you\u2019d recommend an investor could use to help them understand a bit more about the American market?<br \/>\n<b>Reed:<\/b>\u00a0 Yes. In general, there are couple of great property reports that are being released by CBRE, which is one of the big commercial firms. In terms of your specific market wherever you\u2019re investing, try to get your hands on one of their market reports. It\u2019s pretty easy. If you Google \u201cCBRE market reports,\u201d they will come up with a bunch of options. You can type in whatever market you are investing in, whether it be California or Texas or whatever it might be.<br \/>\nThere is also REIS.com. That\u2019s another good source of market information boiled down to help the investor, whether you be a local investor in the United States or an international investor looking to invest in the United States, just to digest a little bit better. They talk about population growth, job growth, and GDP growth, and they\u2019re the factors you want to consider when investing in any market in the United States.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, it\u2019s a very strong analytic company, I think, REIS, isn\u2019t it?<br \/>\nSo those two websites: REIS and CBRE. Is that Coldwell Banker Real Estate?<br \/>\n<b>Reed:<\/b>\u00a0 Yes.<br \/>\n<b>Kevin:<\/b>\u00a0 And, of course, you can go to Reed\u2019s website, RSNPropertyGroup.com.<br \/>\nReed, thank you so much. It\u2019s an interesting subject, one that we shouldn\u2019t ignore. I appreciate you giving your time to explain it in a lot more detail. Thanks, mate.<br \/>\n<b>Reed:<\/b>\u00a0 Thanks a lot, Kevin. Have a great day.<br \/>\n&nbsp;<\/p>\n<h2>Should the Government dump negative gearing? &#8211; Allan Mason<\/h2>\n<p><b>Kevin:<\/b>\u00a0 My next guest is Allan Mason. Allan is from Encore Accounting. We\u2019re going to talk about negative gearing. I can hear you almost groan, Allan, at the thought of \u201cOh, goodness, doesn\u2019t everyone know about negative gearing?\u201d But there is such a lot of talk about it, and I want to try and dig a little bit deeper with you, just to understand what it\u2019s about and whether it\u2019s a good or a bad thing.<br \/>\nFirstly, Allan, thank you for joining us on this show.<br \/>\n<b>Allan: \u00a0<\/b>That\u2019s great, thank you. Thanks, Kevin. My pleasure.<br \/>\n<b>Kevin: \u00a0<\/b>Allan, tell me what is negative gearing?<br \/>\n<b>Allan: \u00a0<\/b>Basically, negative gearing is where the word negative means that you\u2019re losing money, and you\u2019re losing money in the first few years of ownership, so your operating costs or your costs of running the property \u2013 interest, depreciation, agent\u2019s fees, maybe a few repairs \u2013 exceed the rent that you receive, so it\u2019s negative.<br \/>\n<b>Kevin:<\/b> \u00a0So negative gearing, when we hear about that, we firstly think about property, but negative gearing doesn\u2019t apply only to property, does it?<br \/>\n<b>Allan:<\/b> \u00a0Of course. In many, many cases, people buy a share portfolio. To buy that portfolio, they\u2019ll be paying interest on the money. The dividends they receive will not cover the interest that they pay, hence it\u2019ll be a negative.<br \/>\nThe reason people look at it is they want a negative so that they can offset their tax. If they\u2019re paying 45, 46 cents in the dollar tax, that negative means \u2013 to use a simple example \u2013 if they\u2019re losing $1000 a year, they\u2019re getting back $450 in their tax, so their loss is a little bit less.<br \/>\n<b>Kevin:\u00a0 <\/b>A number of the people that I talk to in this show \u2013 commentators and so on \u2013 they will actually say, \u201cLook, negative gearing is not a strategy; negative gearing is an outcome.\u201d Can you explain to me and to our audience just what that really means? And where do you stand on that debate?<br \/>\n<b>Allan:\u00a0 <\/b>Well, it\u2019s an outcome because it\u2019s an outcome for that particular tax year, so that if you\u2019ve lost money on an investment \u2013 and we\u2019re talking a trading loss; we\u2019re not talking a capital loss \u2013 if you\u2019ve lost money during the year on your rental property, if the rent hasn\u2019t covered the cost of ownership, then you\u2019re obviously getting that back in your tax.<br \/>\nAnd remember, you don\u2019t pay 100 cents in the dollar tax, so any criticism by governments or by various people about negative gearing, a lot of it is unfounded because while you might get some sort of subsidy, you\u2019re not getting 100% back because nobody pays 100 cents in the dollar tax.<br \/>\n<b>Kevin:<\/b>\u00a0 There\u2019s been a lot of criticism, of course, about negative gearing, and it\u2019s always aimed at \u2013 I use the term in quotes \u2013 \u201cgreedy\u201d property investors who are gaining all these benefits. Is it really that bad, Allan?<br \/>\n<b>Allan:<\/b>\u00a0 Definitely not. Most of our clients who own property, they\u2019re just moms and dads just like you and I. They have one or two investment properties, some have more, but they\u2019re certainly not greedy. They\u2019re trying to look after their future retirement, they\u2019re trying to buy assets that they hope by the time they retire will go up in value to a point that it will provide a pension for them, to give them income and not be receiving a pension or be part of the social welfare system.<br \/>\nCertainly, it\u2019s not greedy; it\u2019s just people looking after their own affairs and trying to do the best they can to do that without having to be getting a pension or dipping into Consolidated Revenue.<br \/>\n<b>Kevin:<\/b>\u00a0 Allan, what are your thoughts about affordability of property? And once again, I know this is a far-reaching conversation we\u2019re trying to distill into a couple of minutes, but what are your thoughts on affordability for property for first-home buyers and so on? Is it all that unaffordable in Australia?<br \/>\n<b>Allan:<\/b>\u00a0 Well, it\u2019s getting that way. It\u2019s getting harder. But I can tell you that when we look across our client base, there are many, many people who are making a lot of money, who are doing quite well in their business or outside of investments and they are looking for other types of investments to go into. So affordability, yes it\u2019s getting harder, but all that means is there\u2019s more future gain that can be had.<br \/>\nLet\u2019s look at affordability. I can remember that argument 20 years ago. People would say no one can ever afford to buy a house 20 years ago and prices now are three times what they were then, so I sometimes think it\u2019s a bit of a beat-up.<br \/>\n<b>Kevin:<\/b>\u00a0 Could we also talk then about first-home buyers or home buyers not approaching it as an investment but more buying from the heart? In other words, they\u2019ll go out, they\u2019ll spend more than what they could probably afford, and then when interest rates do increase, they find that they can\u2019t afford to keep up those payments. Are they approaching it the wrong way? Should they in fact develop what I call an investor mindset?<br \/>\n<b>Allan:<\/b>\u00a0 I\u2019ve always looked at a house as an investment and try to keep the personal side out of it. I know that when you go to live there and it\u2019s going to be something that you\u2019ll own for a long period of time \u2013 it would be your family home to bring your children up in \u2013 you can\u2019t be silly about it.<br \/>\nYou can\u2019t go taking too many loans to the point where if you become unemployed, you can\u2019t meet your commitments. You have to be sensible, you have to be savvy on your own income, how much you\u2019re earning, how much you can afford, and don\u2019t go outside that because the last thing you want is to have to sell if the property market goes down or if you get into a slump. You don\u2019t want to be selling at that point.<br \/>\nYou want to be able to hold, and hold to through any ups and downs. There will always be ups and downs, and if you don\u2019t have to sell, if it goes down or there\u2019s some sort of correction, you just wear it out, and you know it\u2019ll come back.<br \/>\n<b>Kevin:<\/b>\u00a0 I\u2019ve read a little bit about you, your background, Allan. I know that you worked in the early days with Kerry Packer at Consolidated Press. There must have been some great lessons that you picked up from Kerry, because as the richest man in Australia, you would tend to think that he has plenty of cash to spray around, but was he really that prudent?<br \/>\n<b>Allan:<\/b>\u00a0 Like any business person, he would certainly look at the profit and loss of any particular item projections. If we were going to him with an acquisition of some kind or a proposal, the numbers had to stack up.<br \/>\nAnd the numbers always have to stack up. In Consolidated Press \u2013 and any large company \u2013 we would do weekly figures. We would know weekly what our turnover, our expenses, our KPIs were, and if things were trending badly in a particular division, like maybe the snowfields\u2026 I remember <i>60 Minutes<\/i> was one of our first companies that were involved in. When we started to run that, it was losing money. It was losing money hand over fist, and I think World Series Cricket too was losing money. It\u2019s a case of monitoring it, managing it, making sure that you have enough money to cover all those ups and downs.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, great lessons. We\u2019ll get you back to talk a lot more about some of that history, but I wanted to specifically talk to you about negative gearing. You\u2019ve taken us through that quite nicely, Allan, and I want to thank you very much for joining us.<br \/>\nAllan is from a company called Encore Accounting. The website is called EncoreAccounting.com.au.<br \/>\nAllan, thanks for your time.<br \/>\n<b>Allan:<\/b>\u00a0 Thank you, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>Melbourne population to surge &#8211; <a href=\"http:\/\/realestatetalk.com.au\/featured-channel\/michael-yardney\/\" target=\"_blank\" rel=\"noopener noreferrer\">Michael Yardney<\/a><\/h2>\n<p><b>Kevin:\u00a0 <\/b>A few weeks ago on the show, I was talking to Nerida Conisbee about what\u2019s happening in Melbourne in terms of the Victorian government there trying to make housing more affordable. Affordability is one of those discussions we\u2019re going to have ongoing.<br \/>\nBut look, no doubt, we have to focus on Melbourne, because there\u2019s a lot of activity about what\u2019s happening in the area there in terms of developing new property.<br \/>\nThe Plan Melbourne forecast released recently shows an interesting insight as to what\u2019s going to happen in that capital city.<br \/>\n<a href=\"https:\/\/www.youtube.com\/user\/myardney\" target=\"_blank\" rel=\"noopener noreferrer\">Michael Yardney<\/a> joins me to talk about that.<br \/>\nMichael, tell me a little bit about Plan Melbourne. What\u2019s on the drawing board, and is it likely to have an impact?<b><\/b><br \/>\n<b>Michael:\u00a0 <\/b>Kevin, the Victorian government has revisited and revised its Plan Melbourne because the Melbourne population is forecast to grow from 4.5 million to almost 8 million by 2051. In fact, Victoria\u2019s total population will be 10 million.<br \/>\nNow, this is going to create some interesting social and infrastructure challenges. In particular, our network is going to cope with 10 million more trips a day, an increase of up to 80% in the next just over 30 years. And we\u2019re going to have to create another 1.5 million jobs for a changing workforce.<br \/>\nOne of the problems is <a href=\"http:\/\/propertyupdate.com.au\/melbourne-property-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Melbourne<\/a> has been voted six years in a row as the world\u2019s most liveable city. How is it going to keep that mantle as we grow, Kevin? That\u2019s going to be a challenge.<b><\/b><br \/>\n<b>Kevin:\u00a0 <\/b>Michael, how many new houses are we going to require?<b><\/b><br \/>\n<b>Michael:\u00a0 <\/b>The forecast suggests 1.6 million homes, but more importantly, we\u2019re going to need to build the type of property that people want to live in and in the locations they want to live in, because currently we\u2019re building probably too much of the wrong thing \u2013 too many new off-the-plan, high-rise blocks in the inner city, and we\u2019re building a lot of new homes in the outer suburbs.<br \/>\nBut with all those new trips<b> <\/b>that are going to be required with the difficulty of our transport infrastructure coping, the challenge is going to be to build a lot of those properties in the middle-ring suburbs.<b><\/b><br \/>\n<b>Kevin:\u00a0 <\/b>That\u2019ll probably bring about a few objections, Michael, I would have thought.<b><\/b><br \/>\n<b>Michael:\u00a0 <\/b>Boy, will it, Kevin, because it suggests that 70% of the new dwellings are going to be built in the existing suburbs, and that is going to affect those people we call NIMBYs, those who say, \u201cYes, I\u2019m happy to have Melbourne grow, but not in my back yard.\u201d We\u2019re seeing already more of those big signs in people\u2019s front gardens from Save Our Suburbs saying things along the lines of \u201cWe oppose new development.\u201d<br \/>\nI think we\u2019re going to be in for some interesting times.<br \/>\nBut Kevin, the studies show that while Melbourne has grown considerably in the last 30 years, it is actually these rich Baby Boomer NIMBYs forcing the Millennials into the outer suburbs, because they haven\u2019t allowed much development at all.<br \/>\nWhile a lot of development has occurred in the inner suburbs and the outer suburbs, very little in the leafy green middle ring. But that\u2019s where the good schools are, that\u2019s where the good infrastructure is, that\u2019s where the amenities are, and that\u2019s where all the next generation wants to live.<b><\/b><br \/>\n<b>Kevin:\u00a0 <\/b>I guess we\u2019re just going to have to get used to a changing environment, aren\u2019t we?<b><\/b><br \/>\n<b>Michael:\u00a0 <\/b>We are. Interestingly, we are nowhere near as dense as a lot of other big cities, but Melbourne and Sydney are both international capital cities, and there definitely is room for densification.<br \/>\nLet us hope our politicians get the infrastructure right to make our cities remain as livable as they are.<b><\/b><br \/>\n<b>Kevin:\u00a0 <\/b>It\u2019s going to be interesting to watch what happens. Michael, thanks for your insight. <a href=\"http:\/\/propertyupdate.com.au\/author\/michael\/\" target=\"_blank\" rel=\"noopener noreferrer\">Michael Yardney<\/a> from <a href=\"http:\/\/metropole.com.au\" target=\"_blank\" rel=\"noopener noreferrer\">Metropole Property Strategists.<\/a><br \/>\nThanks, Michael.<b><\/b><br \/>\n<b>Michael:\u00a0 <\/b>My pleasure, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>The future of Australian housing &#8211; Peter Maddison<\/h2>\n<p><b>Kevin:<\/b>\u00a0 The new season of <i>Grand Designs Australia<\/i> is opening on Lifestyle. Peter\u2019s back \u2013 Peter Maddison who\u2019ll join me in just a moment. Peter\u2019s back with a new series, which starts Thursday week, the 27<sup>th<\/sup>. But leading up to that, there\u2019s <i>Kevin McCloud\u2019s Top 10 Grand Designs Australia<\/i>, which premiers one week before \u2013 that\u2019s this April 20<sup>th<\/sup> at 8:30 on Foxtel\u2019s Lifestyle. But joining me to talk about the series itself, series seven, who would have thought, Peter?<br \/>\nWelcome back.<br \/>\n<b>Peter:\u00a0 <\/b>Exactly. Hey, Kevin. Very nice of you to have me back on your show. Who would have thought? Eight years ago, I started the damn thing, and it\u2019s been a big part of my life over the last eight years. It\u2019s taken eight years to make seven series, and it\u2019s just gone in a flash, but gee, it\u2019s been a lot of fun.<br \/>\n<b>Kevin:\u00a0 <\/b>The interesting thing is\u2026 And I\u2019ve watched a number of reruns, because they do rerun them, as they do with\u2026<br \/>\n<b>Peter:\u00a0 <\/b>Occasionally, very occasionally.<br \/>\n<b>Kevin:\u00a0 <\/b>\u2026All the good ones. They get a chance to have a second stab it. But it\u2019s timeless, Peter. You look at it and you think \u201cWow, some of the stuff, some of this architecture that I\u2019m seeing here is absolutely timeless.\u201d Is that what you look for in these things?<br \/>\n<b>Peter:\u00a0 <\/b>I think that\u2019s a product of new, experimental, and inventive architecture. It becomes a period piece in itself. You can\u2019t frame it with another period of architecture, therefore it becomes a hallmark to something that lasts a long time. That just goes with territory of being inventive and creative doing housing the breaks all barriers.<br \/>\nIf I look back to the first house we ever did, those seven years ago, Callignee Bushfire House is the first episode that we made and that today still stands up as having a great quality about it that doesn\u2019t date; it still stands on its own two feet. I think that goes with a lot of Australian architecture: it\u2019s inventive and it\u2019s true to its own person.<br \/>\n<b>Kevin:\u00a0 <\/b>You mention there inventive building systems, design, but what about some of the new materials that come in, does that allow you to expand the creativity of what you do?<br \/>\n<b>Peter:\u00a0 <\/b>You bet. This season, you\u2019ll see that technology \u2013 both the way materials are made and how they\u2019re applied and the skills that surround technology invention, and also the invention of drawing systems in 3D and then machines that can make things in 3D \u2013 has broken down a lot of the barriers in terms of what\u2019s possible and what\u2019s not.<br \/>\nThis year, for instance, we\u2019re doing a house in Kensington that the outside skin of the house, the outside cladding,<b> <\/b>is zigzag steel and is all free format. It\u2019s like a woman\u2019s drift doing a pirouette, and that\u2019s how the house appears.<br \/>\nWe\u2019re doing another house that\u2019s all made of canvas that\u2019s stretched over the top of the house. The canvas is made over in Manila. We go over and follow that material being made in Manila. It comes back, and there\u2019s this big tensile fabric structure in Queensland.<br \/>\nSo materials, the way they\u2019re made, certainly it breaks barriers in terms of what housing can be.<br \/>\n<b>Kevin:\u00a0 <\/b>I guess material brings in those additional elements, but what about some of the more traditional designs that probably get influenced from overseas or even by people coming in from overseas? Like our iconic Queenslander home as an example. I believe you have an example of that in the series.<br \/>\n<b>Peter:\u00a0 <\/b>Yes, the first episode, which is on the 27<sup>th <\/sup>\u2013 which is what you mentioned \u2013 of April, the one we open up with, is based on the traditional Queenslander. It\u2019s a house in Hamilton, just in the inner suburbs of Brisbane.<br \/>\nInterestingly, the owners, the two guys who own this house, have a Japanese restaurant in town and they\u2019re heavily into the whole aesthetic city of Japanese architecture, but they wanted a house that related to Brisbane. So they engaged Yo Shimada, who is a Japanese architect, teamed him up with a local architectural practice, Phorm Architecture in Brisbane, and they\u2019ve reinvented what the Queenslander is.<br \/>\nIt has a lot of the qualities of the Queenslander but it\u2019s all out of steel, this house, whereas the Queenslander is traditionally all out of timber, but it has a lot of the qualities that make housing relevant in the kind of climate that Brisbane sits.<br \/>\nSo it\u2019s a fascinating story of different cultures and invention making a house that relates well to a location. It\u2019s a cracker episode, and we\u2019re leading with that one this year.<br \/>\n<b>Kevin:\u00a0 <\/b>Fantastic. Of course, we\u2019ve really enjoyed your six series so far, and we\u2019re about to enjoy the seventh one. Kevin McCloud \u2013 of course, of the original <i>Grand Designs<\/i> \u2013 is launching the entire series with a top ten. Tell me about that.<br \/>\n<b>Peter: \u00a0<\/b>Well, this was lined up some time ago, about a year and a half ago. Foxtel had the idea that it would be great to get us together, because we are good mates and a good way of bonding and bringing the brand and the excitement of the same show being made in a number of countries together.<br \/>\nSo they got me over to just out of London at Christmas, a place called Esher. We took a house, a very beautiful mid-century house, and I went over and Kevin selected his ten favorite Aussie episodes. I had them all made onto paper slides, and we had a traditional old-fashioned slide show in this wonderful mid-century house just out of London.<br \/>\nWe filmed for about 12 hours nonstop. They just let us go, and we were ranting and raving and arguing and arm-wrestling and drawing. We had and a great time, and we just let the cameras go.<br \/>\nI haven\u2019t seen the cut episode, but I believe it\u2019s very good because there\u2019s a genuine engagement with us with the houses we\u2019ve shown so far in Australia, or ten of his favorites. It\u2019s great to relive those episodes, and I think the audience, if they\u2019ve watched the show over the years, will be pleased to see those episodes discussed. I actually went away and did some updates on what\u2019s happened since the shows went to air, so it should be a good episode.<br \/>\n<b>Kevin:\u00a0 <\/b>It should be fantastic. Were you surprised at some of his selections?<br \/>\n<b>Peter:\u00a0 <\/b>Not really. He\u2019s got pretty good taste, unfortunately. He\u2019s okay.<br \/>\n<b>Kevin:\u00a0 <\/b>Would you have chosen the same ten?<br \/>\n<b>Peter:\u00a0 <\/b>Some of them, I was not so enamored with. Most of them I would agree with. I think he went for variety, a great, great contrast in the house types. Some of them I think are a little bit more predictable than others, but they\u2019re all great episodes.<br \/>\nWe\u2019re splitting hairs, really. Of the 65 we\u2019ve made, there are probably ten that I think are very, very good \u2013 and other people have as well. A lot of the shows we do end up winning awards in various industries \u2013 in the timber industry or steel industry or architectural or interior design industry \u2013 so they\u2019re generally high caliber, and not necessarily expensive but just really inventive and creative places that have a relevance to the owners. That\u2019s the key thing.<br \/>\nNo, it was great to relive those, and I would agree with most of Kevin\u2019s picks.<br \/>\n<b>Kevin:\u00a0 <\/b>It\u2019s a great model, isn\u2019t it, the <i>Grand Designs<\/i> model, the program itself? It\u2019s now aired in number of countries. I think it\u2019s in New Zealand as well as Australia, isn\u2019t it?<br \/>\n<b>Peter:\u00a0 <\/b>I think it\u2019s sold to 12 countries, Kevin. They must be a bit bored over there, or maybe they find the Australian lifestyle\u2026 It wouldn\u2019t be me that\u2019s for sure. Maybe there\u2019s something about our show that works.<br \/>\nI think it\u2019s 12 countries. It goes to are Asia, America, South Africa, Belarus, Denmark, U.K., of course. I don\u2019t know them all. Foxtel sell it on. Yes, it has pretty good engagement around the world.<br \/>\n<b>Kevin:\u00a0 <\/b>Do you get recognized when you go overseas?<br \/>\n<b>Peter:\u00a0 <\/b>Well\u2026 I went to New Zealand recently and I was trying to get through customs and I got up to the passport counter, and I was stopped by the official, and they stood up. Often I know they\u2019ve worked out I\u2019ve left an orange in the bag. I\u2019m going to go off, and they\u2019re going to find an orange I just should have got rid of at pest control desk.<br \/>\nInstead of that, they said, \u201cI know you,\u201d in their New Zealand accent, and it ended up in a great conversation.<br \/>\n<b>Kevin:\u00a0 <\/b>It\u2019s wonderful.<br \/>\n<b>Peter:<\/b>\u00a0 Yes, it\u2019s very nice. Most people have a good reaction to the show. Most people find it compelling viewing and have a good story to tell and remember the details. Yes, that\u2019s rewarding.<br \/>\n<b>Kevin:\u00a0 <\/b>Peter, I look forward to watching you and Kevin. That\u2019s on the 20<sup>th<\/sup> of April, coming up this Thursday, on Foxtel\u2019s Lifestyle, and then the Thursday after, the new series, series seven, for <i>Grand Designs Australia<\/i> with Peter Maddison will hit the airwaves.<br \/>\nAll the best, mate. Great talking to you, and let\u2019s try and not make our next interview for series eight. Let\u2019s make it before then.<br \/>\n<b>Peter: <\/b>\u00a0That sounds like a great idea. You know my number?<br \/>\n<b>Kevin:\u00a0 <\/b>Yes, I\u2019ll get my people to talk to your people.<br \/>\n<b>Peter:\u00a0 <\/b>Okay. Lovely chatting.<br \/>\n&nbsp;<\/p>\n<h2>The smart money is on growth rates &#8211; Stephen Vick<\/h2>\n<p><b>Kevin:<\/b>\u00a0 My guest in studio is Steve Vick. Steve is the managing director of Nexus Private Wealth Management. Steve from a financial planner\u2019s perspective, what constitutes good or investment-grade property?<br \/>\n<b>Steve:<\/b>\u00a0 Investing is really a lesson in mathematics. You might be surprised to know that the difference between, say, 4% growth and 6% growth on a $500,000 property is over half a million dollars in net profit. If I hold a $ 500,000 property for 20 years, if I compare somebody who got a 4% return versus somebody who got a 6% return, the person who got a 6% return would earn more than half a million dollars more than the person who got the 4% return. So, you can see that the growth is incredibly important.<br \/>\nNow another thing that the research tells us is that there is a very high correlation \u2013 or relationship \u2013 between properties that are close into the capital cities and higher growth rates. So, the closer you come in, generally the higher the growth rate. There are always outliers to that data and you have the hotspots and all that sort of thing, but my firm belief is that property is a long-term hold strategy.<br \/>\nYou can see from those numbers that people who try to make their money in the acquisition process or even in the renovation-type process, the numbers that they make are completely insignificant when they compare it to just focusing on very good growth rates.<br \/>\n<b>Kevin:<\/b>\u00a0 And when you do look at renovation and you look at how much effort and energy and risk has to go into getting that property for what sometimes \u2013 by the time you look at the taxes and other things \u2013 can be relatively a small amount of money, you have to do it quite a lot during the year to make it even come anywhere near the kind of growth you can get out of a passive well-positioned property that\u2019s going to earn, say, over 20 years, isn\u2019t it?<br \/>\n<b>Steve:<\/b> \u00a0Yes, I talk to clients about this all the time, and I hear a lot of experiences. Most people generally say they put the first three renovations down to the experience. It\u2019s like anything; if you become very good at something, then you can add genuine value. But unless you are extremely good at that and you like spending your weekends doing that and you have the capacity to be able to make a couple of mistakes in that area and you love doing that, then that\u2019s fantastic. But if not, you\u2019re perhaps better off using your efforts to do what you do best.<br \/>\n<b>Kevin:<\/b>\u00a0 It comes down once again to looking at this as a business. If you are going to go into renovation, don\u2019t think you can do it and make a lot of money by being a part-time renovator while you continue with your job. It needs to become a full-time position: this is what you focus on, this is your business.<br \/>\nWe talk to Cherie Barber quite often in the show, and she will say you need to look at it as a business. It\u2019s her business, she makes a lot of money out of it, but that\u2019s all she does. Seven days a week, in some cases. I don\u2019t think she works seven days a week, but she\u2019s at it full time.<br \/>\n<b>Steve:<\/b>\u00a0 A lot of people that I see who make money during renovations, they\u2019ve usually made money because the way they have bought very well in the first place or they\u2019re in a rising market anyway. It usually has very little to do with a brilliant design skills.<br \/>\n<b>Kevin:<\/b>\u00a0 You\u2019ve done some research into this area about high growth rates, low maintenance, and so on. You know what constitutes a good investment property? Is it about position?<br \/>\n<b>Steve:<\/b> \u00a0Certainly, location is incredibly important. We see employment as one of the primary drivers. People don\u2019t want to send an hour or two hours in their car every single day. The RBA has recently put out a paper, and they show that there is a widening gap between the premium that the people would pay to be closer into the CBD. And that gap is getting wider \u2013 they say this in their paper \u2013 and a lot of that has to do with the aging population.<br \/>\nThey can\u2019t afford to look after the quarter acre block anymore. They\u2019re moving into apartments, they\u2019re moving closer in, and they need to be closer in because they need a life. They need to be able to go to restaurants and caf\u00e9s and theatres, and if they\u2019re more than about 10 minutes out or so, you\u2019re basically living in a cul-de-sac.<br \/>\nThey indicate that the Baby Boomers the next 20 years will be one of the primary drivers for why that gap between being further out and closer in will widen over the next 20 years.<br \/>\n<b>Kevin:<\/b>\u00a0 Is this one of the things you think that will hold the property market back \u2013 this lack of infrastructure, not enough tunnels, not enough way to move people around?<br \/>\n<b>Steve:<\/b>\u00a0 It depends on your perspective. If you\u2019re an investor and you\u2019ve bought well, it won\u2019t hold you back at all. Like Sidney and every other capital city around the world, it will be quite annoying for those people who are forced to leave further out of the city. The services and the amount of time that they have to spend in their car each day is going to get longer, of course. But certainly, it provides also a great opportunity for investors.<br \/>\nAnother mistake that I see people making quite often is mistaking growth for capital growth. They might have an area where there\u2019s fantastic infrastructure, there\u2019s a lot of migration, there\u2019s a lot of population growth, but there\u2019s also a lot of supply.<br \/>\nIf you go out on the fringes of the city, there\u2019s enough land out there to keep going for the next 50 years or so. They don\u2019t have that restraint of supply, and that keeps capital growth down. Whereas, of course, the closer you come into the CBD, whether it\u2019s apartments or houses, you have a limitation of space available, and that is what drives prices up over time.<br \/>\n<b>Kevin:<\/b>\u00a0 Just before I let you go, if I could, your take on what the banks are doing to dampen enthusiasm for property investors \u2013 driven largely by the fact of what\u2019s happening in Sydney and the fact that they are saying that property is now quite unaffordable. Is this just a Sydney problem?<br \/>\n<b>Steve:<\/b> \u00a0Anecdotally, we are hearing from vendors out there that now if raising interest rates and raising serviceability criteria wasn\u2019t enough, now there seems to be anecdote evidence to say that some of the banks are instructing their valuers to lowball valuations depending on whether it\u2019s an investor and an owner-occupier.<br \/>\nOf course, that\u2019s seriously harming some people\u2019s lives. Some people who have gone into contracts a bit on the margin, those people are losing deposits, losing $40,000 or $50,000 if they can\u2019t complete on the a project.<br \/>\n<b>Kevin:<\/b>\u00a0 Thank you very much for joining us, Steve. Steve Vick was my guest, managing director of the Nexus Private Wealth Management.<br \/>\n<b>Steve:<\/b> \u00a0Thanks, so much Kevin.<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights from this week: What do investors need to be aware of if they want to invest in the USA property market? Should investors travel to the location to see property before buying overseas? The biggest decision you will have to make when buying a&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":11351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,11,13,24],"tags":[101],"class_list":["post-11346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-shows","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What to look for when investing in the USA + Melbourne\u2019s population set to double in 30 years - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-to-look-for-when-investing-in-the-usa-melbournes-population-set-to-double-in-30-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to look for when investing in the USA + Melbourne\u2019s population set to double in 30 years - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Highlights from this week: What do investors need to be aware of if they want to invest in the USA property market? 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