\nIn today’s show\u00a0Bryce Holdaway<\/b>, from\u00a0EmpowerWealth.com.au and also the co-host of that great show on Foxtel,\u00a0Location, Location, Location Australia,\u00a0<\/i>explains the 4 ways a property investor will pay.
\n <\/p>\nTranscript:<\/h4>\n
Kevin:\u00a0 <\/b>Joining me once again, a regular guest on the show, a partner in EmpowerWealth.com.au and also the co-host of that great show on Foxtel, Location, Location, Location Australia<\/i>, Bryce Holdaway.
\nGood day, Bryce.
\nBryce:\u00a0 <\/b>Hello, Kevin. How are you?
\nKevin:\u00a0 <\/b>Good. Always good to be talking to you. I\u2019m very, very interested in this topic we have today, and that is the four ways that a property investor will pay. Tell me what you mean.
\nBryce: \u00a0<\/b> I think it\u2019s a good summary. I was at a lunch recently with Cameron Kusher where he was talking about the property market and obviously, with a big focus on Sydney.
\nKevin:\u00a0 <\/b>Cameron Kusher, of course, from RP Data?
\nBryce:\u00a0 <\/b>CoreLogic RP Data. They have this report where they said anyone who sells a property for less than what they originally paid for it, a very large percentage of those were actually property investors rather than owner-occupiers. My ears pricked up.
\nI thought it\u2019s interesting because I\u2019ve seen investors over a 16-year professional career as well as a personal property investor myself, and I think that there are four ways that someone is going to pay, and that is through experience and having seen them go through the process.
\nThe first one, for me, is picking the wrong asset. Just because a property is maxed for an investment stock, it doesn\u2019t necessarily mean that it\u2019s investment-grade stock. I\u2019ve seen so many times when people just buy an investment property because they can rather than buying the right asset that will give them a better performance over time. My first way that they\u2019ll pay is by buying the wrong asset.
\nThe second way is through procrastination. You probably know it yourself, Kevin, how many people come up to you and say, \u201cI\u2019ve been meaning to do this for the last 18 months, but I haven\u2019t gotten around to it.\u201d The problem with that is that the market\u2019s not going to wait for them.
\nKevin:\u00a0 <\/b>Good point, mate. What\u2019s next?
\nBryce:\u00a0 <\/b>The third one for me is they\u2019ll pay too much. That\u2019s the biggest fear, as you know, that most people have, and as a professional buyer\u2019s agent, one of the common things that people come to me and get my help for is to make sure that they\u2019re buying the right asset but also paying at least fair market value for the property. In my view, I see too many people up against real estate agents who negotiate all day, every day, as part of the job.
\nKevin:\u00a0 <\/b>I guess there are two things there. Don\u2019t get involved emotionally, and also make sure you do your research and set your limit price.
\nBryce:\u00a0 <\/b>Yes, I think so. Quite often, you\u2019re getting most of your information from the real estate agent, and if they\u2019re doing their job correctly, they\u2019re trying to get the best deal for their client, which is the seller. So quite often you need to be able to be confident in doing your independent comparable sales research, but that\u2019s not easy if you don\u2019t have access to all the resources.
\nKevin:\u00a0 <\/b>Exactly. And the fourth one?
\nBryce:\u00a0 <\/b>For me, professional advice. I\u2019m on the fee-for-service side of the ledger, where as a buyer\u2019s agent, we charge a fee for service. At face value, we can appear to be more expensive, given that on the other side, the free side of the equation, you have a real estate agent who\u2019ll give you free advice \u2013 but they\u2019re getting paid by the seller \u2013 or someone who\u2019s selling brand-new stuff, whether it\u2019s a house and land package or an off-the-plan apartment. They\u2019re getting paid by the developer and often quite handsomely, so they can give some free advice, as well.
\nBut in my view, you should be taking advice from someone who doesn\u2019t have a vested interest in the outcome and is therefore working in the best interests of you, the buyer.
\nIn my view, it\u2019s one of those four things: wrong asset, procrastination, pay too much, or professional advice.
\nKevin:\u00a0 <\/b>Always good talking to you. Bryce Holdaway from Location, Location, Location Australia<\/i> and also a partner in Empower Wealth. As Bryce said there, they are buyer\u2019s agents.
\nBryce, good talking to you, mate. We\u2019ll catch up again soon.
\nBryce:\u00a0 <\/b>Likewise. Thanks, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"
In today’s show\u00a0Bryce Holdaway, from\u00a0EmpowerWealth.com.au and also the co-host of that great show on Foxtel,\u00a0Location, Location, Location Australia,\u00a0explains the 4 ways a property investor will pay. Transcript: Kevin:\u00a0 Joining me once again, a regular guest on the show, a partner in EmpowerWealth.com.au and…<\/p>\n","protected":false},"author":176692471,"featured_media":4398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-4396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"\n