{"id":14446,"date":"2017-10-27T01:00:12","date_gmt":"2017-10-26T14:00:12","guid":{"rendered":"http:\/\/www.realestatetalk.com.au\/?p=14446"},"modified":"2017-10-27T01:00:12","modified_gmt":"2017-10-26T14:00:12","slug":"would-you-go-home-with-this-man-what-is-a-vesty-trust-the-5-property-reports-you-should-get","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/would-you-go-home-with-this-man-what-is-a-vesty-trust-the-5-property-reports-you-should-get\/","title":{"rendered":"Would you go home with this man? + What is a Vesty Trust? + The 5 property reports you should get"},"content":{"rendered":"<p><strong><em><u>Highlights from this week: <\/u><\/em><\/strong><\/p>\n<ul>\n<li>The small things around the house that add enormous value<\/li>\n<li>What you should NOT do in a renovation<\/li>\n<li>Asset protection and where a \u2018vesty trust\u2019 fits in<\/li>\n<li>The critical decision every property seller must make<\/li>\n<li>How to take a macro view with your research<\/li>\n<li>Barry DuBois &#8211; The Living Room &#8211; and his property journey<\/li>\n<li>How to read the market to get top value<\/li>\n<li>The restrictions around trusts<\/li>\n<li>Steps to getting top dollar when you sell a property<\/li>\n<li>Unearthing trend data and how it can be a treasure trove on insights<\/li>\n<\/ul>\n<p><strong>Transcripts:\u00a0<\/strong><\/p>\n<h2>Would you go home with this man? &#8211;\u00a0Barry DuBois<\/h2>\n<p><strong>Kevin:\u00a0 <\/strong>Barry DuBois is an interior designer and master builder with over 30 years\u2019 experience. He\u2019s one of Australia\u2019s best loved TV personalities. Barry possesses the unique ability to communicate his professional knowledge on design, architecture, renovations, and DIY to homeowners who are outside the building industry.<br \/>\nYou\u2019re going to see that so cleverly demonstrated on Channel 10\u2019s <em>The Living Room<\/em> where Barry meets people at Bunnings and then goes home with them to help them with a DIY task or two that they may actually be struggling with. Barry joins me.<br \/>\nGood day, Barry. How are you, mate?<br \/>\n<strong>Barry:\u00a0 <\/strong>Kevin Turner, always good to be on the show, mate. How are you?<br \/>\n<strong>Kevin:\u00a0 <\/strong>Mate, I\u2019m fantastic, thank you. Great to have you back, too. Barry, I mentioned there about you going to Bunnings, and I love that part of the segment. Have you noticed when you do that, there\u2019s actually a lift in their confidence level?<br \/>\n<strong>Barry:\u00a0 <\/strong>Definitely. My philosophy with DIY is just to get any job and break it down to as many small jobs as possible. When you\u2019re in Bunnings, you often see people just strolling aisles, wondering how they\u2019re going to take on this big project. I grab them, I see what the project is, and then we break it up into a couple little bits. And you\u2019re right; it gives them confidence to do more jobs, which is great for the home and great for your self-esteem.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Yes. And some of the small jobs that I\u2019ve seen you do too, I know you can discount how difficult they are, but gee, don\u2019t they make a huge difference, both to the people who live there but particularly to the property, Barry?<br \/>\n<strong>Barry:\u00a0 <\/strong>I did one a couple of weeks ago, and I think every suburban house in the country should have this. It was just a little screened enclosure for the front wheelie bins. An eyesore of the streets, they make up the landscape of our streets, but a job that looked like it was too big for this couple. They took it on, and the pride they had not just in themselves but in their home once we were finished was really beautiful for me.<br \/>\n<strong>Kevin:\u00a0 <\/strong>We talk about you being on Channel 10, and I feel like I know you very well \u2013 I\u2019ve been talking to you for quite some time \u2013 but\u2026<br \/>\n<strong>Barry:\u00a0 <\/strong>You do, mate.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Just going back in history, you were a very successful builder, you had a great building company, and then at age 46, you retired and you went sailing. Tell me about that. What prompted that, Barry?<br \/>\n<strong>Barry:\u00a0 <\/strong>I loved what I did. I was a good designer, builder, and developer. If you love it and you do get confident, you become good at it. As you know, I\u2019ve been in the property market most of my life, and we\u2019re in a pretty high rate. We\u2019re at one of the bubbles as I like to describe it. Some don\u2019t like to describe it as a bubble, but we\u2019re in a bubble.<br \/>\nAnd I was a little bit depressed. I\u2019d lost my mom to cancer, Leonie\u2019s dad had gotten sick and cancer as well, and I got a little depressed. I\u2019d set goals earlier in life, and it seemed that we\u2019d reached those goals financially. We weren\u2019t there emotionally and mentally, I guess, but financially we were, so I said, \u201cOkay, I\u2019m going to take some time out.\u201d<br \/>\nMy dad was struggling with the loss of mom, and something I always dreamt about doing is sailing around the world, so I went for the Paris Boat Show in 2004, I think, or 2005 and ordered our beautiful yacht, Bella Sogni. Then my dad and I spent three seasons sailing around the Mediterranean in Europe until I lost dad as well.<br \/>\nBut I came out of my depression, and my wife and I discovered lots of new things together. And I ended up on TV.<br \/>\n<strong>Kevin:\u00a0 <\/strong>It\u2019s an amazing story. Obviously, you\u2019re very busy, and I appreciate you giving us your time. I know how busy you are with your media commitments. You\u2019re also a supporter of quite a few charities. You\u2019re also the father of twins, Arabella and Bennett. What are they now, five or six?<br \/>\n<strong>Barry:\u00a0 <\/strong>They\u2019re five and a half years old. They just started Nippers this season, which we\u2019re all very excited about. We\u2019re very proud. As I said, Leonie and I had had 13 failed attempts at IVF over many years. Leonie got cervical cancer after that, and we lost the ability to have children naturally.<br \/>\nPart of that period through 2005 and 2006 and 2007 and 2008, we were investigating adoption and so on, but we discovered surrogacy in India, and our beautiful angels, with the help of some donor eggs and a surrogate carrier and my contribution, our beautiful angels were our seventh attempt. I wouldn\u2019t change my life for anything.<br \/>\n<strong>Kevin:\u00a0 <\/strong>It\u2019s a blessing, isn\u2019t it? Mate, when did you get involved in property investment? How did that happen?<br \/>\n<strong>Barry:\u00a0 <\/strong>I\u2019ve loved property my whole life. I was a builder, I was an apprentice carpenter, and I loved the fact that we built the homes of people who were going to have family. Family is the most important thing in the world to me. So, I love property.<br \/>\nEven as a young bloke, though, my dad had two philosophies. Everything you do, you can do 10% better. And his second one was my favorite: he\u2019s never made a mistake his life; there\u2019s just a shipload of things he\u2019s not going to do again.<br \/>\nI would watch the builders we were working for and say, \u201cYou know, if he had done this, he would have been able to save those couple of bits of timber, and if you\u2019d done this\u2026\u201d I would always say, \u201cIf I\u2019d do it, I\u2019m going to do this, I\u2019m going to do that.\u201d<br \/>\nAnd as it happens, I was only 19 years old and I was driving down the highway to our little farm we had down there in Goulburn, which is in the southern highlands of Sydney, New South Wales. I\u2019d had about $2000 in the bank, which in those days was a lot of money, Kevin.<br \/>\nI whacked that deposit on that block of land, back when you could buy a block of land for $9000. Amazing. And then my girlfriend and I and my pal would go down. I\u2019d work all week, I\u2019d save material when I could with the blessing of the builder, and I\u2019d go down and literally by hand, designed and built my first home when I was 19 years old.<br \/>\nIt took a year to build it. I funded it literally with beg, borrow, and I\u2019m not going to say steal, but I bought things out of my own pockets so that all I had was a little loan, which was only a personal loan on the land. I completed the house, and there it was for sale at $128,000.<br \/>\nFor a young bloke \u2013 we\u2019re talking 1979 or 1980 \u2013 that was a lot of money. I loved that house, so I made my first mistake, and I\u2019m going to share this one with you. This is beauty. I fell in love with that property, and I made a house for $128,000 in a street that was only worth about $90,000.<br \/>\nSo, as much as it was an amazing house, it wasn\u2019t the right house for that street. I knocked back offers of less money, and then sat on it for a while and sold it, which was great. So I\u2019ve learned things too. I never sit on property for too long now because there was a little interest rate rise there as well. And that didn\u2019t hurt me but it cooled the market even more.<br \/>\nI sold the place in the long run. I sold it for $107,000 in the end. I had it on the market for $128,000. It sold for $107,000, which was still a lot of money, and I went on to my next one. And that was the start of my spec building career, designing and building homes.<br \/>\nAs you know, that ended up going on to beautiful waterfront properties in Sydney Harbor, and I\u2019ve developed since then land, I\u2019ve developed shops and units, I\u2019ve developed and built and designed just about every area of real estate in the country.<br \/>\n<strong>Kevin:\u00a0 <\/strong>You learned a lot of lessons along the way. We\u2019ve probably got about a minute to go. I\u2019m keen to talk to you about the record that you hold for the second highest per square meter rate sold in the country. You would have learned those lessons from those early days about how to make a property really valuable.<br \/>\n<strong>Barry:\u00a0 <\/strong>Yes. Two things you have to know when you develop property: never under-develop a property and never over-develop a property. They\u2019re the important things. I was involved in a block of units that was the only two-story block of units in a street of three- and four-story units. So, rather than just develop it, I realized the potential there was to get the three-story.<br \/>\nIt was in a prime position, so I went for big square meterage and I put a 200 square meter penthouse on the top of a block of units at Bondi Beach. That achieved just on $8.5 million, which to this date I think is the second highest ever achieved square meter rate in the country, around $46,000 a square meter.<br \/>\n<strong>Kevin:\u00a0 <\/strong>Barry, it\u2019s fantastic talking to you, mate. I\u2019m going to get you back into the show more often. You can catch Barry, of course, on Channel 10\u2019s <em>The Living Room<\/em>.<br \/>\nBarry, thank you for your time, mate.<br \/>\n<strong>Barry:\u00a0 <\/strong>Always enjoy a chat with you, mate. Take care, and good luck to everyone.<\/p>\n<h2>What really adds value to a property &#8211;\u00a0Ben Kingsley<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 What improvements will actually improve the value and the return on your investment property? A lot of people have made the mistake \u2013 I know I have \u2013 of throwing money at a property and thinking that any improvement\u2019s going to improve the value. Not so, according to Ben Kingsley, who is the CEO and founder of Empower Wealth and also the Chair of PIPA.<br \/>\nHi Ben. Thanks for your time.<br \/>\n<strong>Ben:<\/strong>\u00a0 Good day, Kevin. Thanks for having me on.<br \/>\n<strong>Kevin: <\/strong>\u00a0It\u2019s a pleasure, mate. Not always the case, is it, that any improvement is going to improve the value of a property. What have you found actually improves it overall, Ben?<br \/>\n<strong>Ben: \u00a0<\/strong>The number one thing is painting, Kevin, and decluttering. If you can paint\u2026 The material cost is quite low; it\u2019s just the labor cost. If you\u2019re going to do a bit of that yourself, then obviously that labor cost is also reduced. The number one thing to improve a property is a paint job.<br \/>\nBut don\u2019t get too cute with it. Just keep it simple, nice, clean, bright, fresh colors. And obviously soft, consistent colors like classic whites, off-whites, arctic whites, those types of things are the number one things.<br \/>\nI think you made a good point, Kevin, about what shouldn\u2019t you do? Some of the mistakes I\u2019ve seen are probably\u2026 The biggest one is if you\u2019re going to do structural changes, make sure that the structural change is going to meet the market.<br \/>\nThere\u2019s no use in creating a third bedroom but that third bedroom, you couldn\u2019t swing a cat in. It just becomes a study nook or something like that. So, by the time you put the labor cost into those types of things, is it going to create the value or was it better to have a really large second bedroom is a good example. I see a bit of that happening.<br \/>\nI also see around the custom carpentry work\u2026 It is the labor cost that is the most expensive when we\u2019re doing big renos. If we\u2019re bringing the tradies in to relocate pipes or do custom carpentry work, that may not be as big a bang for buck as potentially just getting something from Ikea or some type of mass-produced kitchen cabinet or bathroom cabinet or something on those lines.<br \/>\nThat\u2019s where I see people going \u201cI need to buy the whale,\u201d when you have to meet your market. If your market is mid-range or lower, meet that. If it is absolutely top-end upper, then brands do give you results.<br \/>\n<strong>Kevin:<\/strong> \u00a0Just listening to what you\u2019re saying there, I was thinking and reflecting back on how we\u2019ve changed in the way we live. We used to actually treasure having a bedroom, even though a small bedroom, but as time has gone on, all of the programs now, we\u2019re opening rooms up. We\u2019re making things a lot more open, a lot more spacious, because that\u2019s a reflection of how the family has profile has changed, Ben, as well.<br \/>\n<strong>Ben: <\/strong>\u00a0Yes, totally. Obviously, we\u2019re having fewer children, so having that spare room for relatives who may be visiting isn\u2019t as important as having that open-plan living-dining and a bit of al fresco piece out the back. We\u2019re definitely seeing that. And then obviously, the parents can jump on the couch if they\u2019re visiting. Or, they can basically rent around the corner with Airbnb. So, different things like that where they\u2019re only coming once or twice a year.<br \/>\nWe have to think about what we\u2019re trying to plan for, but certainly the template for the new mainstream owner-occupier-appeal home is bedrooms up the front, divided by bathrooms for that noise separation, and then living and entertaining out the back.<br \/>\n<strong>Kevin:<\/strong> \u00a0It\u2019s interesting, going right back to the start of what you said, the two improvements you highlighted are two of the cheapest and quickest that you can do \u2013 just decluttering and painting.<br \/>\n<strong>Ben:<\/strong> \u00a0Yes, totally. Clean up the yard, declutter, keep it to a minimum. No one wants to see other people\u2019s personal belongings or wedding pictures and hundreds of pictures. Just make it clean, because they obviously have to imagine that home as being theirs, and we want them to connect to the floor plan, we want to connect to the space, and that\u2019s what they\u2019ll pay a premium for.<br \/>\n<strong>Kevin:<\/strong> \u00a0Good talking to you, Ben Kingsley. Ben is the CEO and founder of Empower Wealth and also, as I said, the Chair of PIPA. Thanks for your time, Ben.<br \/>\n<strong>Ben:<\/strong> \u00a0Pleasure, Kevin.<br \/>\n&nbsp;<\/p>\n<h2>A &#8216;vesty trust&#8217; and how it can be used &#8211;\u00a0Ian Rodrigues<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 I\u2019m going to answer a question now that came to me, and I have to say I was a little bit baffled about this one. Nick sent it in to me about a week ago. It was in response to an interview that I did about asset protection, and he was asking whether I knew about a vestey trust. I Googled it, a bit of a gray area, so I\u2019m checking in now with Ian Rodrigues from Bishop Collins Group.<br \/>\nIan, thanks for your time. I know you pulled up on the side of the road to have a talk to us. Thank you for doing that. I know we\u2019re getting you without too much notice, but a vestey trust; tell me what you know about that.<br \/>\n<strong>Ian:<\/strong>\u00a0 Kevin, the trust deeds that you can buy, you can get a range of trust deeds from pretty standard trust deeds for a few hundred dollars, or you can get specialist lawyers or barristers who have their proprietary trust deeds for quite a lot of money, thousands of dollars. All of them essentially do the same thing, but the vestey trust will be another one of these trusts that the promoter or the constructor or innovator of the deed says does some special things.<br \/>\n<strong>Kevin:<\/strong>\u00a0 From my reading of it, it relates to a wealthy English family, Lord Vestey. I found it very hard to work my way through, probably because as you said, they\u2019re all pretty much the same.<br \/>\nIan, can you just give us some advice about what you\u2019d suggest if anyone is confronted, as Nick is, with the opportunity to get into something like this. What should they do? What questions should they be asking?<br \/>\n<strong>Ian:<\/strong> \u00a0Nick should be looking at whether this trust deed is suitable for his purpose. The historic purpose of trusts was to hold assets for people and divide it up the way the person who set up the trust wanted to do it.<br \/>\nAt the moment in Australia, mostly trusts are used to hold ownership of businesses or assets amongst families, with a family or discretionary trust, or a unit trust where there are fixed interests. But trust are also used to protect assets from the claims of creditors and other people, where you are taking risks where you could have a problem in one business and if it\u2019s not structured properly, it could bankrupt the entire business empire. So, there are very legitimate uses for these trusts.<br \/>\nAs to whether a vestey trust does that particularly well or not, I believe Nick needs to be getting some independent advice from his own lawyers about what this trust deed says and does. A lot of bankruptcy law has been changed over the last few years, specifically in relation to trusts and overriding what the law has been to make sure that creditors can claim against certain assets.<br \/>\nNick needs to get some pretty solid advice, not from the seller of this trust deed \u2013 they have a vested interest in selling you the trust deed \u2013 but independent legal advice to see whether this trust deed does what it says it does and whether it\u2019s relevant to Nick. If Nick just has a job as an employee and he\u2019s not conducting any business, what risk is he trying to protect himself from?<br \/>\n<strong>Kevin:<\/strong> \u00a0You made a very good point, too, right at the front, where you said most trust deeds are pretty much the same, only some just offer protection in certain areas. Is it fair to say that most trusts have some kind of restriction to them? That\u2019s the reason they\u2019re there, to give some solid protection in certain areas, Ian?<br \/>\n<strong>Ian: <\/strong>\u00a0By putting an asset into a trust, you ultimately give up some control over the asset, but there are rules in there about the construction of the trust and who can remove appointors and all sorts of things. It all gets very complicated and very legalistic.<br \/>\nThey\u2019re the things that come out, and when there\u2019s a bankruptcy or a claim against assets, there are lawyers at ten paces looking for every angle on how they can access an asset. And the larger and messier the claim, the more determined they will be to challenge every part of your structure.<br \/>\nA lot of trusts, people have them there with this notion that they\u2019re protecting their assets, but in 99% of cases, they never actually get tested. When they do get tested, that\u2019s when you want to know that they have been set up right.<br \/>\n<strong>Kevin: <\/strong>\u00a0I guess it gets back to your earlier advice to make sure that Nick or anyone who\u2019s confronted with this situation gets some independent legal advice.<br \/>\nIan, thank you so much for your time. Ian Rodrigues has been our guest from Bishop Collins Group. Thanks for your time, Ian.<br \/>\n<strong>Ian:<\/strong> No problem, Kevin. All the best.<br \/>\n&nbsp;<\/p>\n<h2>The 5P&#8217;s to getting top dollar when you sell &#8211;\u00a0Justin Nickerson<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 Over the past three or four months, the Real Estate Institutes around Australia have been conducting a competition to try to find Australasia\u2019s best auctioneer. Last month, five of them got together for the finals in South Australia: Mark McGoldrick from New Zealand, Bronte Manuel from South Australia, Ned Allison also from New Zealand, Clarence White from New South Wales, and Justin Nickerson from Queensland.<br \/>\nJustin Nickerson \u2013 for only the third time in history \u2013 took out the award for the second year in a row. When I caught up with Justin, I wanted to know from him his experience about how sellers can get absolute top dollar when it comes time to sell.<br \/>\n<strong>Justin:<\/strong>\u00a0 Sellers want to achieve the best price, and we break it down to what we call the five P\u2019s to get you a premium price. Because the reality is that you could always sell a property, you could chuck a sign out the front tomorrow, and you could find someone at lowest common denominator to buy it. The challenge or the hunt is actually to get the best price that\u2019s out there. I think an emotional buyer and a competitive environment are your two keys.<br \/>\nThe five P\u2019s we talk about are presentation, so ensuring that you present your property well. People walk through there and it doesn\u2019t have to look like a show home or a display home, but it certainly has to be to the best of its ability. Space is a big one. Not having a cluttered home is a huge thing, because space allows people to visualize what the property potentially can be. Obviously, being cluttered makes the property feel smaller, which is something you never want to do.<br \/>\nThe second one is process, so dealing with an agent who actually genuinely understands the way that buyers think and are going to be able to pass the information back on to you, because what you want your agent to be doing for you is giving you true information from the market.<br \/>\nNot necessarily what people think the property is worth or what the property might sell for, you want your agent representing back to you what people are actually going to pay for your property. So, making sure that you tick off on the process side of it.<br \/>\nPromotion, which is advertising. Whether you\u2019re a believer in the newspapers or not, that\u2019s your own belief, and your own spot, depending on where you are, whether it\u2019s going to be relevant or not, but making sure that you do promote the property well.<br \/>\nSo, the photos look good. If you\u2019re doing videography, which is an area that we\u2019re really exploring at the moment, you do a good video to really promote and highlight the benefits of buying the property, and just making sure that the advertising really does capture the buyers. Talk about the key attributes of the home, and talk about why the sellers are selling to make sure that the value-based buyers get engaged, as well.<br \/>\nPricing strategies: that\u2019s deciding whether you go with a price or without a price. You can put a set price on the property or an \u201coffers over\u201d strategy if that\u2019s what you want to do. Being an auctioneer and being compensated to stand in people\u2019s front yard and call out numbers, I\u2019m always of the belief that auction is the best method to go with, but again, having a clear strategy in mind and knowing why you\u2019re embracing that strategy.<br \/>\nThe last one, which is a bit of an under-rated one, is choosing the right person. It\u2019s not necessarily highlighted enough how good a good agent can be for your sale price. I know that there\u2019s always a cost battle there that you want to try to save as much money on the commission as you can, and we\u2019ve seen the rise of flat fee, lower-priced agencies existing.<br \/>\nThe reality is a good agent can make a difference in your sale price of many, many thousands of dollars more than their commission. If you don\u2019t choose correctly at the start, the rest of those other four P\u2019s can all be sacrificed as well. So, making sure you get the right person, someone who has a demonstrated sales history in the area, someone who communicates well to you, and someone who believes in your property as well and thinks they\u2019re going to get a good price.<br \/>\n<strong>Kevin:<\/strong>\u00a0 In selecting that agent, that point number two \u2013 the process \u2013 is one way to determine whether you\u2019re with a good agent as well, and also, give them a test, I believe. Make them follow you up, see how well they follow you up, because if they follow you up well, they\u2019re going to follow up your potential buyer as well.<br \/>\n<strong>Justin:<\/strong>\u00a0 Yes, spot on. Go to open homes, go to auctions, interview a number of agents, and make sure that you\u2019re not based around the fee, because the funny thing is that if you ask an agent to discount their commission, you\u2019re testing their negotiation skills, and if they\u2019re ready to roll over and say, \u201cOkay, sure, take my money,\u201d when a buyer is coming to do the same thing, they\u2019re going to do the same behavior.<br \/>\nYou really want an agent who knows what they\u2019re worth, they\u2019re willing to stand up for what they\u2019re worth, because chances are, when it comes down the line and they\u2019re negotiating on your behalf, they\u2019re going to do the same thing.<br \/>\n<strong>Kevin:<\/strong>\u00a0 There you go. Just to summarize, the five P\u2019s are:<br \/>\nPresentation: I guess that comes down to staging. The process the agent goes through: a great opportunity for you to get an understanding about do they really understand the auction process, and believe me, that\u2019s absolutely critical. Promotion: you cannot sell a secret. The price strategy: what is the pricing strategy, how much does that agent understand about the market and where your property is going to sit? And I guess probably the most important one, as Justin said, is the person to do the job.<br \/>\nMy guest that time was Justin Nickerson, Australasian Auctioneer of the Year.<br \/>\n&nbsp;<\/p>\n<h2>Reports you should always get and the ones you can trust &#8211;\u00a0Kylie Davis<\/h2>\n<p><strong>Kevin:<\/strong>\u00a0 Making the decision to buy an investment property is really very exciting. It\u2019s just a bit scary sometimes, too. We talk about research; you can actually over-research. Some of the biggest decisions are where and what to buy, but doing your research and spending just a fraction of the amount that you intend to invest can actually save you thousands and minimize the risk of making a costly mistake.<br \/>\nWhat reports should you be looking at? We\u2019re going to highlight five for you today. My guest will take us through those, Kylie Davis from CoreLogic.<br \/>\nKylie, thanks for your time.<br \/>\n<strong>Kylie:<\/strong>\u00a0 Thanks, Kev. Nice to talk to you.<br \/>\n<strong>Kevin:<\/strong>\u00a0 No doubt this is a question you\u2019re asked quite often: which of the reports should I really be taking notice of? Which ones would you suggest?<br \/>\n<strong>Kylie:<\/strong>\u00a0 I think there are a few that we should look at. The first one is you need to understand is now the right time, or what is happening in the property market as a whole at the moment?<br \/>\nThe best way to understand that is to look at a quarterly economic report to see what are the economic drivers that are affecting the property markets? Are prices on a property on the way up, or are they on the way down? What\u2019s employment doing? What are the interest rates doing? What\u2019s construction doing?<br \/>\nThese things can set the scene for how the Australian market or how the market in your capital city is performing and give you an understanding of what\u2019s likely to happen, because we all want to buy property and know that\u2019s immediately going to go up.<br \/>\nThat\u2019s what we all hope will happen, but it\u2019s often good to be alert and to understand is that something that\u2019s going to happen in the next year, or do I actually need to buy this property now, thinking about what\u2019s going to happen five or ten years out?<br \/>\n<strong>Kevin:<\/strong>\u00a0 We always cover those quarterly economic reports in our show, as well \u2013 a lot of excellent ones out from CoreLogic.<br \/>\nWhat about rental performance? How important is that, and where can we find out about that, Kylie?<br \/>\n<strong>Kylie:<\/strong>\u00a0 If you\u2019re looking to buy an investment property, you really want to know what the rental performance is going to be, and so there are a couple of key metrics that you look at as part of an investment property.<br \/>\nYou\u2019re looking at the rental yield, but you\u2019re also looking at what the weekly rent is going to be. You need to do that in the context of how realistic it is inside that suburb. You\u2019ll often see inside data that a suburb might have an amazing rental return, but if there\u2019s not much of a rental market in that area, or if the vacancy rate is really high, then sometimes those figures can be a little bit out.<br \/>\nSo, the rental performance reports look at them across a lot of different criteria. They look at how big is the rental market in that area, is it a realistic rental market, what\u2019s the yield, and how much is it returning, what is the median rent, how does that compare to the median price, and is the median value of the properties going up or down? You\u2019re looking at something that\u2019s trying to get capital growth as well as a good return.<br \/>\n<strong>Kevin:<\/strong>\u00a0 All of this data, of course, does actually show trends, doesn\u2019t it? You have to monitor those trends, as well.<br \/>\n<strong>Kylie:<\/strong>\u00a0 Yes, it sure does. What you want to see is there\u2019s no point buying a property that\u2019s an amazing rental return if the capital growth is tanking out in that suburb. You could buy it, but you want to know that that\u2019s what\u2019s going on before you do it. You don\u2019t want to find out after you spent an awful lot of money.<br \/>\nThe idea behind the reports is to make sure you go in with your eyes wide open about what the situation is in that market, and a rental report will help you hone in on which suburbs you should be looking at to find the right property.<br \/>\n<strong>Kevin:<\/strong>\u00a0 I guess that brings us to the next one \u2013 doesn\u2019t it? \u2013 getting down to specifics, getting right down to the suburb, as well, Kylie.<br \/>\n<strong>Kylie:<\/strong>\u00a0 Yes. Once you\u2019ve worked out that you\u2019re comfortable with where the market is at at the moment and you\u2019ve identified some suburbs that you think are good rental opportunities, then you start to want to go right down into the fine detail of those individual suburbs.<br \/>\nThe suburb reports will give you information on how the suburb is performing across a lot more criteria than just investment stuff. It\u2019ll tell you where the median values are, what the capital growth has been over an extended period of time, and give you an understanding of the types of properties that are for sale in those markets.<br \/>\n<strong>Kevin:<\/strong>\u00a0 One of the things we have learned over the years, too, is that there is no one market in Australia. Even if you break it down into suburbs and then go into the suburb, you\u2019ll find there are different markets even within a suburb. You have to really dig right down into the individual property level, as well, Kylie, don\u2019t you?<br \/>\n<strong>Kylie:<\/strong>\u00a0 Yes. And I guess that\u2019s the last report that you should buy, because a suburb on the whole can be providing a great return but it doesn\u2019t guarantee that every property in that suburb is doing the same thing.<br \/>\nThe best investments are made when you select the right property at the right price. So, once you\u2019ve narrowed down your search and come up with a couple of properties that you really like, it\u2019s worthwhile then going into a property report to see how long it\u2019s been owned for, the age of the property, to get all of the details sitting behind that to make sure that the investment you\u2019re about to make is not going to have any nasty surprises in it.<br \/>\n<strong>Kevin:<\/strong>\u00a0 Okay, there you go. There are the five reports that you need to be looking at, and Kylie Davis has taken us through those. Kylie is the head of content and property services marketing at CoreLogic and also heads up the CoreLogic reports. I imagine these reports are available at CoreLogic, Kylie?<br \/>\n<strong>Kylie:<\/strong>\u00a0 Yes, you can find these ones and a whole lot more. Some of them are free; some of them are paid for, but they\u2019re all on the CoreLogic Report Store, CoreLogic.com.au\/ReportStore.<br \/>\n<strong>Kevin:<\/strong>\u00a0 Good stuff. Kylie Davis, thank you so much for your time. We\u2019ll catch you again soon.<br \/>\n<strong>Kylie:<\/strong>\u00a0 Thanks, Kevin.<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Highlights from this week: The small things around the house that add enormous value What you should NOT do in a renovation Asset protection and where a \u2018vesty trust\u2019 fits in The critical decision every property seller must make How to take a macro view&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":14447,"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-14446","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 v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Would you go home with this man? 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