{"id":22037,"date":"2018-08-15T01:00:36","date_gmt":"2018-08-14T15:00:36","guid":{"rendered":"https:\/\/realestatetalk.com.au\/?p=22037"},"modified":"2018-08-15T01:00:36","modified_gmt":"2018-08-14T15:00:36","slug":"is-this-a-time-to-speculate-bateman-and-harris","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/is-this-a-time-to-speculate-bateman-and-harris\/","title":{"rendered":"Is this a time to speculate? \u2013 Bateman and Harris"},"content":{"rendered":"

If something sounds too good to be true, then it probably is. Many opportunities are speculative. If you are simply throwing money at something and hoping to get a result, you are speculating.\u00a0 Successful investors know when and when not to speculate according to Property Mentors Matthew Bateman<\/strong> and Luke Harris<\/strong>.<\/p>\n

Transcript:<\/strong><\/p>\n

Kevin:\u00a0\u00a0<\/strong>You\u2019ve heard me say before. Sometimes, if it sounds too good to be true, it probably is. Like many opportunities that\u2019ll come your way, this is speculative. If you\u2019re simply throwing money at something and hoping that you\u2019re going to get a result, then you are speculating. You should never do it with property.<\/p>\n

Joining me to talk about this are Luke Harris and Mathew Bateman, The Property Mentors. G\u2019day, guys. How are you doing?<\/p>\n

Matthew:\u00a0\u00a0<\/strong>Really good. Thanks for having us.<\/p>\n

Kevin:\u00a0<\/strong>Good. Define \u201cspeculation\u201d for me.<\/p>\n

Matthew:\u00a0\u00a0<\/strong>All right. Speculating really is when you do put some money into an investment and you really don\u2019t know three key components to the outcome of that investment. Number one is you don\u2019t necessarily know your result upfront. You don\u2019t necessarily don\u2019t know all your risk upfront. And you don\u2019t necessarily know the timeframes that you\u2019re dealing with upfront. So if we can minimize those three elements, we turn more of a speculative investment into a more known-outcome, known-timeframe, and known-risk investment, then we\u2019re really probably at the better end of investing.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Is there ever a time for speculation, like if the market is running hot? Can you take that risk?<\/p>\n

Matthew:\u00a0\u00a0<\/strong>Some people can and do. With speculation in property, though, unfortunately there\u2019s no one who can tell you what the property you\u2019re about to buy or have bought is going to be worth that day, the next day, the next month, the next year, or even the next decade. So when 100% of your strategy relies on the market to do all the work for you \u2013 that is, either values go up over time or your rental goes up over time \u2013 there is a degree of speculation.<\/p>\n

What we aim to do is have multiple strategies that allow us to time the markets but also have time in the markets to allow that appreciative nature of property historically to help with the result.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Do you see short-term rentals as a form of speculation?<\/p>\n

Matthew:\u00a0\u00a0<\/strong>I think, in some ways, it can be if you don\u2019t have that as part of your long-term strategy. Like I was saying, it could be a speculation if you\u2019re just throwing your property out there into the short-term market, hoping it will work for you. But if it\u2019s part of a long-term plan that\u2019s being crafted out with somebody who has had the experience in that space, then as long as you know the risks and you know what the outcome is that you\u2019re trying to achieve, if it\u2019s out of a long-term plan, then absolutely not.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>One of the things we are learning about the short-stay market is that it really does depend on the area, what you need to do with the property, and the amenities that are there. So unless you have all of that covered off, in a way you are speculating, aren\u2019t you?<\/p>\n

Matthew:\u00a0\u00a0<\/strong>Yeah, exactly.<\/p>\n

Luke:\u00a0\u00a0<\/strong>Absolutely. To a certain extent, we\u2019re using a company called\u00a0QuickStay [? 2:36]<\/strong>\u00a0to do the rentals for our own properties. We found that, if you\u2019ve done your research and you understand the risk involved and the areas that you\u2019re going into and the types of properties that you have available, then again, as part of your plan, it can be a fantastic strategy.<\/p>\n

Matthew:\u00a0\u00a0<\/strong>If I could just in on top of that, I guess the main point we want to make about speculation versus investing is that, for the vast majority of investors, they really don\u2019t have that plan. They don\u2019t have that highly defined outcome that they\u2019re actually chasing in the marketplace. So what they tend to do is make a decision \u2013 \u201cI want to invest in property\u201d \u2013 and then they go straight to RealEstate.com or Domain.com and they start looking at properties.<\/p>\n

What we say is that, before you start looking at properties, perhaps as smarter way to do it is to sit down and actually decide on, upfront, what type of investing you\u2019re going to do, what sort of returns you\u2019re going to chase, what risk levels you\u2019re willing to take on, and what timeframe you\u2019re hoping to achieve all those results, because then you can get clearer in what you\u2019re actually trying to achieve.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>It\u2019s a very complex situation to sit down and do all that. One of the reasons why your company exists is to be able to mentor people through this. Sometimes we don\u2019t know what we don\u2019t know.<\/p>\n

Luke:\u00a0\u00a0<\/strong>100%. I think this comes down to the reasons why we started The Property Mentors in the first place. Matt and I, as property investors ourselves, were out there like everybody else, trying to get the best results we could. But the problem is that there\u2019s so much information out there. Where do you start?<\/p>\n

As a property investor that wants to get great results, we realized that, after many years of trying to do it ourselves and reading books and magazines and going to seminars and all the things that were out there, you really need to work with somebody who has been there and done that before.<\/p>\n

If you\u2019re really looking to get the results in property investing, you have to ask yourself, \u201cAm I looking to get a small result or a big result?\u201d If you\u2019re looking to get a big result, it really helps to work with somebody who has already got a big result in property investing.<\/p>\n

Kevin:\u00a0<\/strong>Is there ever a time to speculate?<\/p>\n

Matthew:\u00a0\u00a0<\/strong>It comes back to the plan. As a part of your plan, you might have some high-risk speculation. You might think about doing something like long-term land banking as a speculative plan and hope that planning and zoning changes come through in the time that you\u2019re alive to be able to capitalize on that. It might be that you\u2019re going to take a speculation on some higher-risk strategies, but it should always be a part of the longer-term plan.<\/p>\n

As I said, there are really things that separate speculators and investors: how much of your risk you can know before you start, how much of your reward you can lock in before you start, and how much of the timeframe you can control within your investment.<\/p>\n

Kevin:\u00a0\u00a0<\/strong>Guys, great talking to you. Thank you so much for your time, Luke Harris and Matthew Bateman from ThePropertyMentors.com.au. Thanks for your time, guys.<\/p>\n

Luke:\u00a0\u00a0<\/strong>Thanks.<\/p>\n

Matthew:\u00a0\u00a0<\/strong>Thanks.<\/p>\n","protected":false},"excerpt":{"rendered":"

If something sounds too good to be true, then it probably is. Many opportunities are speculative. If you are simply throwing money at something and hoping to get a result, you are speculating.\u00a0 Successful investors know when and when not to speculate according to Property…<\/p>\n","protected":false},"author":176692473,"featured_media":22043,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,34,10,11,13,36,25,27],"tags":[101],"class_list":["post-22037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-finance-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nIs this a time to speculate? \u2013 Bateman and Harris - 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\/is-this-a-time-to-speculate-bateman-and-harris\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is this a time to speculate? \u2013 Bateman and Harris - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"If something sounds too good to be true, then it probably is. 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