{"id":11933,"date":"2017-06-02T03:00:48","date_gmt":"2017-06-01T17:00:48","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=11933"},"modified":"2017-06-02T03:00:48","modified_gmt":"2017-06-01T17:00:48","slug":"always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/","title":{"rendered":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019"},"content":{"rendered":"<p><b><i><span style=\"text-decoration: underline\">Highlights from this week:<\/span><\/i><\/b><\/p>\n<ul>\n<li>Dr Andrew Wilson\u2019s mid-term 2017 property report card<\/li>\n<li>Would you rely on a property report generated by the seller?<\/li>\n<li>What we can learn from President Trump.\u00a0 Yes there are some things!<\/li>\n<li>The formula to successful property investing<\/li>\n<li>We tell you about \u2018fractional financing\u2019<\/li>\n<\/ul>\n<h4><strong>Transcripts:<\/strong><\/h4>\n<h2>Some &#8216;invisible&#8217; property investment issues\u00a0\u2013\u00a0Cate Bakos<\/h2>\n<p><b>Kevin:<\/b>\u00a0 A property investment \u2013 or any investment, for that matter \u2013 is only as good as how it returns for you. What are some of the invisible issues that can undermine the returns on a property investment? Joining me to talk about that is Cate Bakos from Cate Bakos Property buyer\u2019s agents based in Melbourne.<br \/>\nHi, Cate. Nice to have you on the show again. Thanks for your time.<br \/>\n<b>Cate:<\/b>\u00a0 It\u2019s great to be here, Kevin.<br \/>\n<b>Kevin:<\/b>\u00a0 Give me some of those invisible issues. What have you found, generally, that people tend to overlook that can impact their returns?<br \/>\n<b>Cate:<\/b>\u00a0 Sometimes it\u2019s not even overlooking or not being aware of them, but the invisible issues are the things that need to be done once you\u2019ve purchased that property \u2013 and they can be quite costly. So you went into this investment thinking you had a 3.5% or 4% gross rental return, by the time you\u2019ve fixed those invisible issues, you could be significantly down to early 3%s, and that can really hurt.<br \/>\nThey\u2019re typically things that you can\u2019t see, and without due diligence, you might not know about them until the problem occurs.<br \/>\n<b>Kevin:<\/b>\u00a0 List a few of them for me, Cate.<br \/>\n<b>Cate:<\/b>\u00a0 For example, electrical: re-wiring, the need to re-wire or spend significant money on a property that has unsafe electricals. There are a few little hints that we can sometimes see, but it certainly doesn\u2019t guarantee anything.<br \/>\nI think that having a qualified building inspection on the property, asking them to point out any concerns, is a start, but it\u2019s important to note that a building inspector isn\u2019t an electrician. So, they might see more warning signs than a normal buyer can see, and that\u2019s a start.<br \/>\nAnother one is plumbing. If you have some significant plumbing and drainage issues, they can certainly add to the cost base of the purchase, because works will need to be done to fix that up. They can range from hundreds of dollars to tens of thousands of dollars, depending on where the issue sits, so it\u2019s a really important one to consider.<br \/>\nOne of the most expensive invisible issues isn\u2019t so invisible that people often underestimate them; it\u2019s when you have significant movement on a property that needs more than just re-stumping; it might need soil engineers. The whole problem might be something that spirals into hundreds of thousands of dollars and that\u2019s more than just re-blocking; it\u2019s substantial works on a period home, for example.<br \/>\n<b>Kevin:<\/b>\u00a0 It can be a lot of underpinning. Therein lies another problem, because those structural defects or the need for underpinning and how a building can drop sometimes can be hidden depending on weather conditions.<br \/>\nAs an example, we found, in different parts of Australia, when the climate is moist or when there\u2019s a lot of rain around, those cracks that could emerge actually close up because the moisture in the soil will impact on the foundation. So, you really do need a highly qualified person to give you an insight about the foundations, Cate, is what I\u2019ve found.<br \/>\n<b>Cate:<\/b>\u00a0 That\u2019s right. I think if a normal building inspector suggested there might be an issue that needs a little bit of specialization, someone to have a closer look, I don\u2019t think you can ignore that. We\u2019ve walked away from many a property that has proven to be too expensive with all of the rectification work for investors.<br \/>\n<b>Kevin:<\/b>\u00a0 What you\u2019re suggesting is as well as a building inspection or report, you have to have one done on electrical, one on plumbing, and one on the structural integrity of the building. Is that right?<br \/>\n<b>Cate:<\/b>\u00a0 It\u2019s a hard one, Kevin, because if you get all of that done, you\u2019re looking at $2000 per property, and nobody in their right mind would want to spend that on every property that could be the one.<br \/>\nBut I think getting a reliable building inspector who can give you a hint if there are other areas of concern and point you in the direction of a specialist, if one is required, that\u2019s what is really important \u2013 having a building inspector you can trust.<br \/>\nPerhaps, asking on forums or chatting to friends, getting someone who is very reliable: they\u2019re not just giving you scare tactics; they\u2019re genuinely telling you that you might have to look a little bit closer at a roof plumber<b> <\/b>getting up on the roof or an electrician checking out the electricals.<br \/>\n<b>Kevin:<\/b>\u00a0 In fact, we just did an interview recently in the show with a building inspector, and I want to get your opinion on this, too. Andrew Mackie-Smith joined us in the show. He\u2019s written a book called <i>Building Success<\/i>.<br \/>\nHe is suggesting that as it is in the ACT, that sellers should be required to get building inspections done, not just on the building but the electricals and the plumbing, so that it\u2019s a full report that can be given to every buyer.<br \/>\nWould you support something like that, and would you take notice of a report that was generated by a seller?<br \/>\n<b>Cate:<\/b>\u00a0 I certainly would check out the credentials of the inspector who has done the report, and I would want to be quite comforted that they are independent. But I think the idea has a lot of merit because a seller who has nothing to hide and has a property that checks out well is encouraging people to have a punt on auction day, and there are many occasions where a buyer might think \u201cLook, I\u2019m not sure if I\u2019m in the right vicinity pricewise. I don\u2019t really feel like spending the $500 or $600 on the report. I\u2019m not going to bid.\u201d<br \/>\nFrom the seller\u2019s point of view, it can be quite a tactic if it\u2019s a great report, because it will encourage people to bid and it will obviously increase competition and potentially get a higher result.<br \/>\nIf a seller does have a house with problems, obviously, they won\u2019t be so excited about uncovering all of those, and when you buy at auction, it is buyer beware. You\u2019re buying as it is on the day, so I imagine sellers will have mixed views on that.<br \/>\nCertainly, from a buying point of view, I would find it much easier if we didn\u2019t have to scramble around, getting building inspections on every property that we\u2019re going for, sometimes at the last minute. So yes, I think you\u2019ll have mixed reviews on that idea.<br \/>\n<b>Kevin:<\/b>\u00a0 The \u201cbuyer beware\u201d saying is quite real, but a solicitor Tim O\u2019Dwyer said recently on the show that he believes that\u2019s changing around Australia where there\u2019s a lot stronger emphasis now being put on the seller, and I think rightly so, too.<br \/>\nLet\u2019s face it. When you buy a car, it has to come with a roadworthy certificate. Therefore, there\u2019s a requirement to say \u201cThe product that I\u2019m putting up here is roadworthy as a car.\u201d The same, I think, should apply to a property. If I were a seller, Cate, I would want to know what was wrong with my place because that\u2019s going to impact the eventual sale price.<br \/>\n<b>Cate:<\/b>\u00a0 Yes, that\u2019s a really fair point. It\u2019s not just about the condition of the property; sometimes there are illegal works or there are works that have been done without the appropriate sign-off, and so you have permit issues as well.<br \/>\nI think every buyer is entitled to understand when a property is being sold without the appropriate permits, and in most cases, a good, solid legal review will reveal those types of issues as well.<br \/>\n<b>Kevin:<\/b>\u00a0 Cate, always great talking to you. Cate Bakos,, buyer\u2019s agent from Melbourne, from Cate Bakos Property. Thank you very much for your time.<br \/>\n<b>Cate:<\/b>\u00a0 Thanks for having me on the show, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>Guaranteed wealth creation\u00a0\u2013\u00a0Michael Sloan<\/h2>\n<p><b>Kevin:<\/b>\u00a0 Michelle is on the line. G\u2019day, Michelle. How can we help you?<br \/>\n<b>Michelle:<\/b>\u00a0 Hello, Kevin. I just have a question because I\u2019m renovating my bathroom. I have a small farmhouse, and I have a very, very small area \u2013 1.2 only \u2013 to put a vanity in. It originally had a single vanity basin. For resale, should I go to a double vanity?<br \/>\n<b>Kevin:<\/b>\u00a0 If it looks out of place and it\u2019s going to clutter, I would think it\u2019s not going to add a lot of value. Just be very, very careful when you\u2019re in those small spaces.<br \/>\n<b>Michelle:<\/b>\u00a0 Thank you, Kevin. It\u2019s a bit tricky to know what to do.<br \/>\n<b>Kevin:<\/b>\u00a0 It is.<br \/>\n<b>Michelle:<\/b>\u00a0 Thanks, Kevin.<br \/>\n<b>Kevin:<\/b>\u00a0 Good on you, and all the best with your renovations, too.<br \/>\n<b>Michelle:<\/b>\u00a0 Thank you. Bye-bye.<br \/>\n<b>Kevin:<\/b>\u00a0 You have to be so careful with what you do about renovations.<br \/>\nI\u2019m talking now to Michael Sloan. Michael is the author of <i>The Formula to Successful Property Investing<\/i>.<br \/>\nA point that you make in the book, too, Michael is that you need to understand what the market really needs before you start doing your renovation.<br \/>\n<b>Michael:<\/b>\u00a0 Yes, you have to have a look at how much you\u2019re spending and how much difference it\u2019s going to make. Sometimes you can spend $40,000 on a renovation and get an increase in value of $60,000 or $80,000, but other people, especially when they\u2019re trying to renovate for profit\u2026<br \/>\nI would say over the years, most people who I\u2019ve met who try to renovate property for profit haven\u2019t made any profit. But when you live in it, that\u2019s a perfect time to do the place up slowly and add value.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, we spend a fair bit of time talking about renovations, and we have a couple of really good renovation experts who will constantly tell us that they\u2019ve seen so many people coming to what looks like a very, very easy method of making money and they\u2019ll just lose money hand over fist.<br \/>\nI have to say that I\u2019m actually one of those people who have actually lost money through renovation because in the early stages, we didn\u2019t really know what we were doing. It just looked so easy \u2013 and it is so easy sometimes to buy a property and think \u201cI\u2019ll just turn this over.\u201d<br \/>\n<b>Michael:<\/b>\u00a0 I did it myself a long time ago, with my first property I ever bought.<br \/>\n<b>Kevin:<\/b>\u00a0 Yes, there are some valuable lessons there.<br \/>\nI want to talk to you about something you wrote in your book, and that is the guaranteed wealth creation strategy. Tell me about that, because anything that has a guarantee on it, my ears prick up straight away.<br \/>\n<b>Michael:<\/b>\u00a0 Yes, Kevin. This one is guaranteed because what I was talking about is debt reduction. It\u2019s something that doesn\u2019t get a lot of press, but paying down debt is a guaranteed way to create wealth.<br \/>\nThere are a lot of really good calculators \u2013 we have some on our website and there are some on other websites as well \u2013 where you can just throw around some figures and run some numbers to see how much money you\u2019re going to make just by $50 or $100 a week going into your mortgage.<br \/>\nMortgages are the biggest debts that people carry. That\u2019s why you have to be very careful buying a negative property. We\u2019ve talked about negative or positive properties before. People buy negative cash flow property that might cost them $100 or $200 a week, but what they don\u2019t do is look at the lost opportunity of what they could have done with that money.<br \/>\nHow much will that make you by putting it into your mortgage? Because that money is guaranteed wealth creation.<br \/>\n<b>Kevin:<\/b>\u00a0 It requires discipline, doesn\u2019t it? And it requires the plan and the focus for you to be able to do that.<br \/>\n<b>Michael:<\/b>\u00a0 Sometimes you just have to get off your backside and do a bit of work as well. When I do presentations, I\u2019ll say to people \u201cWho would change banks for $11 a week, if they saved $11 a week?\u201d and no one will put their hand up.<br \/>\nBut $11 a week on an average mortgage could be 0.25% on your loan. Over the life of the loan, that will save you about $17,000. But if you leave your payment as it was before, it actually saves you about $40,000.<br \/>\n<b>Kevin:<\/b>\u00a0 Do you think we\u2019re lazy, or we just don\u2019t do the sums and work it out?<br \/>\n<b>Michael:<\/b>\u00a0 Often, we don\u2019t do the sums. But take a week off work. It is a lot of trouble moving banks, so take a week off work if you need to.<br \/>\nWhat I say to people is call a couple of banks that you don\u2019t deal with and ask them to pitch for your business. When they give you the best rate, as long as the loan is equal, go back to your bank and tell them you want them to match it.<br \/>\nWhat they\u2019ll often do is stay within about 0.25% above what you have, because they don\u2019t think you\u2019ll bother moving for that much money. But if you do the sums, make sure you know how much it\u2019s worth to you, especially if you maintain the same payment because that\u2019s when it really turns into tens of thousands of dollars.<br \/>\n<b>Kevin:<\/b>\u00a0 Those small fish can be very, very sweet. As an example, a few years ago, we tried an exercise where we just opened a bank account and we thought \u201cWe\u2019ll just put $50 a week in.\u201d It\u2019s just an automatic payment; it just goes in. We just left it, didn\u2019t touch it. It was amazing how quickly that grew, and it became a substantial amount of money. Sometimes the small, sweet fish can really add up to be quite big.<br \/>\n<b>Michael:<\/b>\u00a0 Yes, there are lots of small things you can do to save money on your mortgage. One of them is have a look at how much money your kids have in their bank, and what are they earning \u2013 a couple of percent interest? Even older children saving for a deposit to buy their own place might have a bit of money in there and they\u2019re getting next to no money and they\u2019re paying tax on it.<br \/>\nPut it in your offset account against your loan and pay your kids the interest rate you\u2019re paying on your home loan. It\u2019ll be two or three times what they\u2019re making.<br \/>\n<b>Kevin:<\/b>\u00a0 Great advice from Michael Sloan. Michael is the author of the book <i>The Formula to Successful Property Investing<\/i>.<br \/>\n&nbsp;<\/p>\n<h2>What Donald Trump really meant\u00a0\u2013\u00a0<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>Everyone seems to be talking about Donald Trump, don\u2019t they? I\u2019m reminded of a number of quotes that Donald Trump is famous for. We\u2019re going to have a look at those today in the show and get an impression of what they really mean from <a href=\"http:\/\/realestatetalk.com.au\/featured-channel\/michael-yardney\/\" target=\"_blank\" rel=\"noopener noreferrer\">Michael Yardney<\/a>, who has also looked at them.<br \/>\nGood day, Michael. How are you?<br \/>\n<b>Michael:\u00a0 <\/b>Hello, Kevin. I\u2019m well, thank you.<br \/>\n<b>Kevin:\u00a0 <\/b>Michael is a regular guest, of course, from Metropole Property Strategists.<br \/>\nMichael, let\u2019s have a look at a few of these. The first one I want to ask you about is \u201cAs long as you\u2019re going to be thinking anyway, why not think big?\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Love him or hate him, Donald Trump can teach you some lessons about success, about life, about business, maybe not about politics \u2013 and definitely about property.<br \/>\nInterestingly, long before his catch cry of \u201cYou\u2019re fired,\u201d Donald Trump was famous for the saying \u201cThink big.\u201d In fact, it was the name of his first book. So, since we become what we think about all day, it takes no more effort to think big than it does to think small. So, I guess he\u2019s right: think big.<br \/>\n<b>Kevin:\u00a0 <\/b>Here\u2019s one that he\u2019d be reminding himself of, I guess \u2013 something that happened just recently. \u201cSometimes by losing a battle, you find a new way to win the war.\u201d He\u2019d be finding that a lot in politics, I would imagine.<br \/>\n<b>Michael:\u00a0 <\/b>Yes, and even though this isn\u2019t a political podcast, it\u2019s hard to avoid that, isn\u2019t it?<br \/>\nI guess what he\u2019s suggesting there if you read between the lines is successful people see failure very differently to the average person. They sit it as a stepping stone to the next level. Every successful person I know \u2013 me personally included \u2013 has definitely had more than their fair share of failures. But each time, they\u2019ve gotten up again, they\u2019ve dusted themselves off, they\u2019ve tried again, and they\u2019ve learned some valuable lessons from what\u2019s happened.<br \/>\nSo, that\u2019s a big, big difference between successful property investors, business people, entrepreneurs, and the average Australian. They just get up one more time.<br \/>\n<b>Kevin:\u00a0 <\/b>Another one of the sayings from Donald Trump is \u201cExperience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>I guess what he\u2019s getting at is experience teaches you lessons you can\u2019t learn any other way, so, learn from them. Kevin, I once heard that experience is what you get two minutes after you need it. So, what he\u2019s basically saying is that experienced investors will benefit from all the good and the bad that\u2019s happened to them. It\u2019s gotten you to where you are today. Take advantage of the lessons you learned along the way.<br \/>\n<b>Kevin:\u00a0 <\/b>Maybe this next one, Michael, is one that he should have taken into account before he ran for president. He said \u201cYou\u2019re generally better off sticking with what you know.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Very much so. To become an expert property investor or at anything else, Kevin, it\u2019s best to do one thing a hundred times rather than try to do a hundred things once. We see a lot of people trying this strategy and that strategy, doing this business or doing that, and they never become good at it. To become an expert, what you have to do is have reproducible results, and the way you get that is by doing it over and over again.<br \/>\n<b>Kevin:\u00a0 <\/b>I\u2019ve actually heard you say this next one as well, and I\u2019d love to ask you about this one. He said \u201cSometimes, your best investments are the ones that you don\u2019t make.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Yes, you\u2019ve heard me say that too, Kevin, that I\u2019ve made more money by saying no to opportunities than to perceived investment opportunities that you get coming in through your inbox and through people ringing you and telling you about things. I guess he\u2019s suggesting to weight up the pros and cons and make a judgment based on careful analysis.<br \/>\nAt this stage in the property cycle, for some people, the right thing to do is just nothing: hibernate, wait until the market moves on or the banks lend you some more money.<br \/>\n<b>Kevin:\u00a0 <\/b>It is a bit of a luxury. And this next one too is a bit of a luxury, where he said \u201cI don\u2019t make deals for the money. I have enough \u2013 in fact, much more than I\u2019ll ever need. I do it to do it.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>I guess here what he\u2019s saying, Kevin, is differentiating between loving money and loving the process of making money. If all you\u2019re doing is chasing money, you\u2019re never going to have enough, you\u2019re never going to be grateful, you\u2019re never going to appreciate it. There is a good point there, Kevin.<br \/>\n<b>Kevin:\u00a0 <\/b>Yes, good point. We only have a couple to go, but another one he said is \u201cI try to learn from the past, but I plan for the future by focusing exclusively on the present. That\u2019s where the fun is.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Good point, Kevin. We\u2019ve all made mistakes and you can\u2019t change the past. I guess part of being a successful investor involves taking responsibility for your mistakes, learning from them, and not making them again.<br \/>\nClearly, Trump is flawed like all of us, so he doesn\u2019t worry about the future either. What he\u2019s saying is \u201cI\u2019m going to concentrate on now, I\u2019ll do the best I can, I\u2019ll be the best I can now.\u201d And that\u2019s probably helped all of us get good results.<br \/>\n<b>Kevin:\u00a0 <\/b>Another one \u2013 and there is a bit of a similarity with a lot of these \u2013 it comes down to how he thinks about money. He said \u201cMoney was never a big motivation for me, except for the way that I keep score with it. The real excitement is in playing the game.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Interesting, isn\u2019t it? You can actually see some commonalities in what he\u2019s saying, Kevin; you\u2019re right. I think what he\u2019s saying is life is a game, and we\u2019re all here to have a good time, so take advantage of it while you can.<br \/>\n<b>Kevin:\u00a0 <\/b>Yes. The next one is very Donald Trump: \u201cShow me someone without an ego and I\u2019ll show you a loser.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Yes, you\u2019re right; it is very Donald Trump. I guess many people see him as arrogant, but maybe what he\u2019s saying is it takes a confident person to lead others effectively. Whether you\u2019re in business or as an investor, having a strong, healthy ego helps you travel the bumpy roads towards success.<br \/>\n<b>Kevin:\u00a0 <\/b>I love this next one. Anyone could have said this, but he did say it, Donald Trump. He said \u201cIf you\u2019re interested in balancing work and pleasure, stop trying to balance them. Instead, make your work more pleasurable.\u201d<br \/>\n<b>Michael:\u00a0 <\/b>Well said, isn\u2019t it, Kevin? I think we both are lucky enough to experience that. I know you very much enjoy what you\u2019re doing in your work, so it\u2019s not seen as work. I do also. One way to achieve this love of work is to find something you\u2019re passionate about \u2013 it doesn\u2019t matter what it is \u2013 and then try to pursue it.<br \/>\n<b>Kevin:\u00a0 <\/b>The final one I\u2019m going to leave you with is, I think, very appropriate and a great way to end this little segment with Michael. Donald Trump said \u201cWhat separates the winners from the losers is how a person reacts to each new twist of fate.\u201d So true.<br \/>\n<b>Michael:\u00a0 <\/b>It is. It reminds me of that famous saying by Winston Churchill, who said the same thing in a different way. He said \u201cNever give up. Success is the ability to go from failure to failure without losing your enthusiasm.\u201d Sure, that\u2019s hard to do, and one way to do it is to surround yourself with good people, other people who are going to hold you up and hold you accountable and look after your back.<br \/>\n<b>Kevin:\u00a0 <\/b>I think you said right at the outset, Michael, no matter what you think of Donald Trump, great people we can learn so many lessons from. So, thank you for sharing your thoughts on those eleven pieces of wisdom from Donald Trump.<br \/>\nMy guest has been Michael Yardney from Metropole Property Strategists. Thanks, Michael.<br \/>\n<b>Michael:\u00a0 <\/b>My pleasure, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>Fractional financing &#8211; what is it?\u00a0\u2013\u00a0Warren Gibson<\/h2>\n<p><b>Kevin:\u00a0 <\/b>With so many people talking about housing affordability, this may be just a unique way for you to get into the market if you are struggling. There is a company called DomaCom, and a man behind it is Warren Gibson, who joins me.<br \/>\nWarren, thank you very much for your time. What is DomaCom? How does it work?<br \/>\n<b>Warren:\u00a0 <\/b>DomaCom is a fractional property investment platform, Kevin. It\u2019s simply a modern form of syndication that enables people to come together and put various amounts of money in \u2013 from a small minimum of $2500 \u2013 towards acquiring a property, and then they share in the rent and the future capital gain from that property in proportion to the amount of money they\u2019ve put in.<br \/>\n<b>Kevin:\u00a0 <\/b>Lots of questions I want to ask you, but you mentioned the term \u201cfractional financing.\u201d Is that the term you used?<br \/>\n<b>Warren:\u00a0 <\/b>Yes. It\u2019s an interesting term, isn\u2019t it? Another term for that is syndication, and yet another one in the modern lexicon would be crowdfunding, and that\u2019s the one that seems to resonate with most people.<br \/>\n<b>Kevin:\u00a0 <\/b>So, the whole idea here is that a whole group of people are going to put in relatively small amounts of money each but then they have some part ownership of property. Is that the way it works?<br \/>\n<b>Warren:\u00a0 <\/b>Because property has a single title, somebody has to hang on to the title, and you can\u2019t have 20, 30, 40, 100 different people all having their names on the title. So, what we do is we put together a legal structure, and the purpose of the legal structure is to protect the interests of the investors.<br \/>\nWhen we acquire the property, it sits in a sub-fund of a managed investment scheme, a trust, and this is an ASIC-registered fund. The title rests with an independent trustee, and we use perpetual trustee for that purpose.<br \/>\nAnd then we issue units in the fund. So, you own units in the fund, the fund owns the property, and perpetual being one entity just hangs on to the title in the interests of representing the unit-holders.<br \/>\n<b>Kevin:\u00a0 <\/b>As someone investing in DomaCom, am I going to have the opportunity to decide which properties I want to invest in? Or is it that I just come into the idea of it?<br \/>\n<b>Warren:\u00a0 <\/b>There are a couple of different ways, but absolutely, you have choice \u2013 and that\u2019s our ultimate goal. When people go into other trust types like unlisted property trusts or real estate investment trusts or something like that, somebody else chooses the property. In our structure, you get to choose what you want to invest in.<br \/>\nSo, if you see a property that\u2019s on the market and you want to invest in that, you can either commence a book build through an advisor, or you can come to us and we can start a book build and we can bring other people together for it.<br \/>\nOr sometimes we go and select a property. Recently, we selected a cattle property in Western Victoria because we had tenants lined up for it. It was an excellent property, had growth prospects and a good rental yield, and we decided that we would start a book build on that, and in the ensuing few weeks, 94 people came together and we bought the cattle property.<br \/>\n<b>Kevin:\u00a0 <\/b>Was this the Kidman property?<br \/>\n<b>Warren:\u00a0 <\/b>No, not the Kidman property. We did attempt to crowdfund the Kidman property, but as you can imagine, a $400 million cattle property is somewhat difficult to pull together.<br \/>\n<b>Kevin:\u00a0 <\/b>How did you go with that one, by the way?<br \/>\n<b>Warren:\u00a0 <\/b>We got over 5000 people who pledged $80 million. We had a major bank who agreed to leverage it for $70 million, and that was just towards the value of the land. The actual cattle business, which was the cows, we valued around $160 million. We had a consortium of businesspeople prepared to buy that part of it, so we got reasonably close, within about $70 or 80 million or something like that. But at the end of the day, it was a big task.<br \/>\n<b>Kevin:\u00a0 <\/b>If $70-80 million is getting close, well, then you were close.<br \/>\n<b>Warren:\u00a0 <\/b>In terms of $400 million, it is pretty close.<br \/>\n<b>Kevin:\u00a0 <\/b>That\u2019s close enough. A couple of questions then for you. Okay, so I invest in this. You mentioned there at the start I think that we can share in the profits. Say I have to exit from my investment. How difficult is that for me? Is it possible, and do I share in the profits at that point in time?<br \/>\n<b>Warren:\u00a0 <\/b>That\u2019s a really good question, and one of the issues with investing is you always have to have an avenue of exiting the investment. Not everybody is ready to get out at the same time. So, we thought about that hard and long when we were putting the structure together, that getting out of an investment is important.<br \/>\nWhen we acquire these properties and put them into a fund, we run the fund for a term of five years. When we get to five years, we ask all of the investors \u201cDo you want to stay in it, do you want us to retain the property? Or do you want to sell it and go?\u201d And if most of them say \u201cLook, we would like to retain it,\u201d we will keep it, provided those who want to get out can get out and everyone else buys them out, or we get new investors in. We\u2019ll roll it over and keep it.<br \/>\nBut let\u2019s say three years after we acquired a property, somebody wants to get out \u2013 for whatever reason. Then we have what we call a liquidity facility. It\u2019s like a secondary market, if you like, where they can go online, just like you do with your shares \u2013 you can go onto Etrade or Comsec or one of those online traders \u2013 and list your units for sale.<br \/>\nWe can then advise other investors in that property if they want to increase their exposure to it and buy you out. We\u2019ll do that at the latest valuation, so we revalue the properties every 12 months.<br \/>\n<b>Kevin:\u00a0 <\/b>Okay, that probably answered my question. So, there is an exit strategy there, but it\u2019s not simply as easy as just picking up the phone and getting an agent to come and sell it for you. You have to go through a process.<br \/>\n<b>Warren:\u00a0 <\/b>No, it isn\u2019t, but there\u2019s no cost involved in doing that. No entry fees, no exit fees at all.<br \/>\n<b>Kevin:\u00a0 <\/b>Is there a minimum amount for me to invest, to become involved?<br \/>\n<b>Warren:\u00a0 <\/b>$2500 will open an account.<br \/>\n<b>Kevin:\u00a0 <\/b>Warren, thank you very much. The website is DomaCom.com.au. My guest has been Warren Gibson.<br \/>\nThank you very much for joining us.<br \/>\n<b>Warren:\u00a0 <\/b>Thank you, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>2017 report card\u00a0\u2013\u00a0Andrew Wilson<\/h2>\n<p><b>Kevin:<\/b>\u00a0 Given that we are 50% into the year already, it\u2019s time to have a bit of a look back and check on the report card for what\u2019s happened so far in 2017. Joining me to do that, Dr. Andrew Wilson from The Domain Group.<br \/>\nAndrew, how would you classify the first six months of 2017?<br \/>\n<b>Andrew:<\/b>\u00a0 No doubt, a positive start to the year, Kevin. Also, no doubt that we\u2019re moving away from that very strong prices growth \u2013 particularly in Sydney and Melbourne \u2013 that we had at the end of last year. Prices are still rising in all capital city markets, and interestingly, we\u2019re starting to see a bottoming out in the Perth market as well.<br \/>\nI think those value opportunities and perceptions are starting to move buyers back into the Perth market. Although I don\u2019t expect prices to grow, I think that we won\u2019t see the sort of declines we\u2019ve had recently.<br \/>\nMost other markets are certainly vibrant, although no doubt coming off their peaks of the end of last year, and no surprise because the further we move away from those low interest rate drivers of higher house prices\u2026 And of course, remembering we had a rate cut. Our last rate cut was in August. The further we get away from rate cuts, the less opportunity or the less capacity we have to push prices up. But certainly, in most markets, demand is ahead of supply.<br \/>\n<b>Kevin:<\/b>\u00a0 Growth in prices, the blame for it still being laid fairly at the feet of foreign buyers. That\u2019s hard to say early in the morning! I notice a report out on the Domain site saying that the majority of Sydney-siders<b> <\/b>don\u2019t believe that foreign investors should be allowed to buy property in Australia at all.<br \/>\n<b>Andrew:<\/b>\u00a0 I\u2019m not sure what sort of valid insights we should gain from that type of data modeling, Kevin. I think that there\u2019s no doubt that there is a very strong interest in our product from international investors, but there are certainly a lot of hoops to jump through for international investors in our marketplace.<br \/>\nI find it amusing that we\u2019re wanting to put up the barriers for international investment in our country. We have such a need, particularly the student market, our university industry, for income generated from foreign students. I don\u2019t think we can have it both ways, and I\u2019m not sure that there is any real validity in terms of imbalances caused by foreign investment.<br \/>\n<b>Kevin:<\/b>\u00a0 I sometimes wonder whether governments just go for low-hanging fruit. Everyone is talking about affordability, looking for laying blame and so on. There has been a lot of talk, even in this last couple of weeks, about how much focus we should be putting on affordability.<br \/>\nI had a talk to Michael Yardney about this recently and he made the point, do we really want houses to be more affordable in Australia? If you look at what needs to happen for that to happen, they are going to be a lot of investors, a lot of property owners who would be very unhappy.<br \/>\n<b>Andrew:<\/b>\u00a0 Our latest affordability index for the capital city markets for the March quarter shows that affordability is, in fact, improving. And in most capital cities \u2013 in fact, in all capital cities \u2013 affordability as measured by the proportion from the average income of the average loan retirement is below the last 15 years\u2019 average.<br \/>\nThere\u2019s no doubt that it\u2019s tough for first-home buyers, particularly in the Sydney market, and it\u2019s very tough for renters as well. But in terms of owner-occupiers, these low interest rates, they certainly haven\u2019t had it this good for over a decade in terms of the growth in the house prices and low interest rates.<br \/>\nI think we have to realize that foreign investment is positive in terms of generating jobs and providing supply into our marketplace. High prices do mean a lot of people miss out on property \u2013 it\u2019s a market environment \u2013 and as you said, we do get the blame game happening. Whether it\u2019s foreign investors or real estate agents, it really doesn\u2019t reflect what is still a remarkably robust and resilient housing market.<br \/>\n<b>Kevin:<\/b>\u00a0 Can I just pick on a point that you just made about how difficult it is for first-home buyers in Sydney? The point I would make is that first-home buyers don\u2019t really constitute a big slice of the market. It\u2019s actually difficult for anyone to buy a property in Sydney because of affordability, not just first-home buyers. So why do we always focus on first-home buyers?<br \/>\n<b>Andrew:<\/b>\u00a0 I guess that it\u2019s the great Australian dream and we do, I guess, do have an underlying connection to being able to purchase property in this country. We\u2019ve come from backgrounds and cultures where it\u2019s been very difficult and there have been significant barriers to owning property, so I guess that\u2019s part of our egalitarian society that we feel that we need to be able to own property and get into property.<br \/>\nBut it\u2019s always been tough, Kevin, and it is very tough now at the moment. When prices rise, it always makes it tougher for first-home buyers. That\u2019s the nature of the beast, because first-home buyers don\u2019t have a trade-in to bring into the purchase proposition as homeowners do have.<br \/>\nBut with limited supply, if we start trying to increase demand through bonuses or cutting stamp duty for first-home buyers, it\u2019ll only put up prices in the medium term. That doesn\u2019t really do anybody any favors except existing homeowners.<br \/>\nI think that the clear conundrum in our housing markets, particularly the ones that have higher prices, is supply. With initiatives being announced recently to cut off supply or to curtail supply in terms of our foreign developers and foreign investors, it is quite counterintuitive given that we\u2019re basically very, very skinny for new development coming through. Even the Melbourne and Brisbane markets are starting to look like they\u2019re rebalancing now after a strong period of new development.<br \/>\n<b>Kevin:<\/b>\u00a0 Pull that crystal ball out, mate. The landscape going ahead between now and the end of the year, what\u2019s it going to be like?<br \/>\n<b>Andrew:<\/b>\u00a0 Housing markets are vibrant still, Kevin, and as I said, growth is still positive but growth levels are declining. As I said, even the Perth market is looking like it\u2019s going to find its bottom this year at some stage. So, I remain quite positive.<br \/>\nInterest rates are always the key, Kevin. We know that\u2019s where housing markets are going to go. There has been a lot of talk, which I\u2019ve found quite confounding, that we would get higher interest rates from the RBA this year. I think that we\u2019re now, sooner rather than later, going to get a cut in interest rates from the RBA, maybe as soon as June or even July.<br \/>\nThe latest economic data is very concerning. We had retail sales falling over March for the second consecutive month, and that\u2019s the first time that\u2019s happened since 2012. Retail sales were supposed to be one of the key drivers of the economy, and with the actual sales going backwards, it does reflect this low-growth, low-income, underemployed economy that we do have now.<br \/>\nI think given that banks are now looking to pass on the new bank tax with higher interest rates likely, I think the Reserve Bank will have to act now to offset that and to try to stimulate an economy that is clearly still stuck in second gear.<br \/>\nI think we have a chance of having negative economic growth again over the March quarter. Of course, we had negative growth over the September quarter and bounced back over December. But given we had the Queensland cyclone earlier this year and low retail sales, I think that we might see negative growth.<br \/>\nI think that the Reserve Bank must start to identify that and ignore a lot of the narrative about high Sydney house prices and higher Melbourne house prices and start looking at the main game, and that\u2019s to get people in work again.<br \/>\n<b>Kevin:<\/b>\u00a0 Consumer sentiment down, of course, after the federal Budget was released, and that probably was predictable because it was one of those Budgets that we had to have, one that doesn\u2019t come with a lot of sweetness. So, I\u2019m not terribly surprised that consumer confidence is down, Andrew. How would you feel about that?<br \/>\n<b>Andrew:<\/b>\u00a0 I think a lot of the housing market initiatives in the Budget were predictable, Kevin. I think that they satisfied a lot of the issues that have been out in the public forum this year so far.<br \/>\nIt\u2019s been a little hysterical, some of the discussions that we have had and it hasn\u2019t really reflected on-the-ground issues. Some of the options that are being proposed would probably cause more problems than they\u2019d solve, but most of the issues were addressed at some level by the government.<br \/>\nHowever, I think that they were just really at the margin and they won\u2019t have any significant impact on market dynamics. Interest rates are the main game and the economy is the main game. As I said, I think that we will see a very flattish<b> <\/b>outlook for interest rates going forward, and I think that means that our housing markets will remain quite stable.<br \/>\nWe have to remember that migration is very strong into Melbourne and Sydney at the moment, and we\u2019re starting to see signs that migration is turning around, particularly into South East Queensland as well.<br \/>\nWith undersupplied capital city housing markets \u2013 we\u2019re seeing the recent strong growth in buildings starting to decline \u2013 that\u2019ll only mean higher prices, or certainly, it\u2019ll keep demand ticking over ahead of supply.<br \/>\nBut we\u2019re not going to see those big double-figure increases in house prices annually that we\u2019ve seen in Sydney and Melbourne recently. It\u2019ll be flatter, but I do believe we will continue to see prices grow.<br \/>\n<b>Kevin:<\/b>\u00a0 Dr. Andrew Wilson from The Domain Group. Thank you very much for your time, Andrew.<br \/>\n<b>Andrew:<\/b>\u00a0 Thank you, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights from this week: Dr Andrew Wilson\u2019s mid-term 2017 property report card Would you rely on a property report generated by the seller? What we can learn from President Trump.\u00a0 Yes there are some things! The formula to successful property investing We tell you about&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,24],"tags":[101],"class_list":["post-11933","post","type-post","status-publish","format-standard","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 v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - 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\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Highlights from this week: Dr Andrew Wilson\u2019s mid-term 2017 property report card Would you rely on a property report generated by the seller? What we can learn from President Trump.\u00a0 Yes there are some things! The formula to successful property investing We tell you about...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-01T17:00:48+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"34 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019\",\"datePublished\":\"2017-06-01T17:00:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/\"},\"wordCount\":6908,\"commentCount\":0,\"keywords\":[\"podcast\"],\"articleSection\":[\"Kevin Turner\",\"Kevin's Update\",\"Latest Stories\",\"Shows\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/\",\"name\":\"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"datePublished\":\"2017-06-01T17:00:48+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\",\"name\":\"rolanrush\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g\",\"caption\":\"rolanrush\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/rolanrush\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/","og_locale":"en_US","og_type":"article","og_title":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - Realty Talk","og_description":"Highlights from this week: Dr Andrew Wilson\u2019s mid-term 2017 property report card Would you rely on a property report generated by the seller? What we can learn from President Trump.\u00a0 Yes there are some things! The formula to successful property investing We tell you about...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/","og_site_name":"Realty Talk","article_published_time":"2017-06-01T17:00:48+00:00","author":"rolanrush","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rolanrush","Est. reading time":"34 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/"},"author":{"name":"rolanrush","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"headline":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019","datePublished":"2017-06-01T17:00:48+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/"},"wordCount":6908,"commentCount":0,"keywords":["podcast"],"articleSection":["Kevin Turner","Kevin's Update","Latest Stories","Shows"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/","name":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019 - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"datePublished":"2017-06-01T17:00:48+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/always-have-an-exit-a-guaranteed-path-to-wealth-beware-of-invisible-issues\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"Always have an \u2018exit\u2019 + A guaranteed path to wealth + Beware of \u2018invisible issues\u2019"}]},{"@type":"WebSite","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website","url":"https:\/\/channels.realty.com.au\/realtytalk\/","name":"Realty Talk","description":"Your Trusted Voice For Property Investing. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/384a57ac9e52cb9bf19896cb15eaa52d","name":"rolanrush","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/86544778804295a7fa45cbde097dc3a58a45ba6ed28859f17059ca74c38723d2?s=96&d=mm&r=g","caption":"rolanrush"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/rolanrush\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/11933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692471"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=11933"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/11933\/revisions"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=11933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=11933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=11933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}