{"id":5549,"date":"2015-09-04T01:00:21","date_gmt":"2015-09-03T15:00:21","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=5549"},"modified":"2015-09-04T01:00:21","modified_gmt":"2015-09-03T15:00:21","slug":"first-home-buyer-to-investor","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/first-home-buyer-to-investor\/","title":{"rendered":"First Home Buyer to Investor – Paul Nugent"},"content":{"rendered":"

 
\nFirst Home Buyer to investor, upsize, downsize and finally retirement. It is a journey but like with very journey you must know the destination before you set out. In today’s show we talk with\u00a0Paul Nugent<\/strong>,\u00a0from Wakelin Property Advisory.
\n 
\nTranscript:<\/strong>
\nKevin:<\/b>\u00a0 My guest now is Paul Nugent from Wakelin Property Advisory, who we\u2019ve had the pleasure of speaking to on a number of occasions.
\nPaul, you\u2019ve been in the industry for a long time. You would have seen that progression from the first-time purchaser or first-home buyer right though to becoming an investor. What are some of the obstacles and challenges you see for people along the way?
\nPaul:<\/b>\u00a0 That\u2019s a really good point, Kevin. What seems to impede a lot of people from either venturing into investment property or from furthering their portfolios tends to be a lot of the white noise that\u2019s always out there in the marketplace and in the broader economic commentary.
\nAnyone who is prudent is going to take on board what is happening in the broader economy, however a lot of people are easily put off by comments that are made in terms of changes to legislation, waiting for interest rates to fall or to stabilize, or waiting for prices to come back \u2013 peripheral issues that really just create doubt in people\u2019s minds.
\nKevin:<\/b>\u00a0 Everyone has an opinion, don\u2019t they? Everyone\u2019s an expert. Particularly family, I\u2019ve found.
\nPaul:<\/b>\u00a0 I think that\u2019s exactly right. I think it\u2019s those you meet around the barbeque who tend to create the greatest issues for investors. People are waiting for someone to ring the bell and tell them \u201cNow is the time to buy,\u201d or \u201cDon\u2019t buy now; you\u2019d be mad.\u201d Whereas, the reality of life is those who have been very successful buying property as an investment, they listen to others but they rely on their own counsel and they\u2019re not hindered in any way by all this talk. They\u2019re quite focused.
\nKevin:<\/b>\u00a0 It\u2019s a very general statement I\u2019m going to make right now, but I\u2019m particularly impressed with this young generation and the fact that they do their due diligence but they are also very brave about venturing into this. They don\u2019t have the hesitation, I guess, of becoming a first-time purchaser. I\u2019ve even noticed some of them \u2013 and you might have, too \u2013 who prefer to buy an investment as their first property, as opposed to a principle place of residence.
\nPaul:<\/b>\u00a0 Yes, most certainly. That seems to sit very well with the younger generation \u2013 by that, we\u2019re probably thinking people in their 20s through to early 30s. I think it gives them that security of a foothold in the market, but by buying an investment property, they still have flexibility in terms of lifestyle, careers, travel, and what-have-you. It\u2019s not uncommon at all for first-time buyers to be purchasing an investment property rather than a home.
\nKevin:<\/b>\u00a0 Let\u2019s talk about that difficult jump from having one investment property to actually buying your second and third. That seems to be a difficult transition for some people.
\nPaul:<\/b>\u00a0 Yes, it is, but I think that\u2019s more a mental block than anything else. What those investors that I know who\u2019ve entered into the marketplace and developed a portfolio over a number of years tend to do is assess their financial position every year. They look at their equity position in terms of what the property they\u2019ve already purchased might be worth, they look at any spare cash flow they might have \u2013 whether they have had a pay rise or have a new job \u2013 and reassess that affordability.
\nEven for people where those circumstances don\u2019t change greatly over any given twelve-month period, I\u2019ve noticed that over three to five years, those people are able to invariably come back into the market, make a second purchase, and then repeat the process. So every three to five years, it seems to be that with successful asset selection in the first place, growth seems to allow them to have the equity to be able to move further into the market and acquire more.
\nKevin:<\/b>\u00a0 That\u2019s interesting. You\u2019re saying that foundation is absolutely critical to get that right.
\nPaul:<\/b>\u00a0 Absolutely, 100%.
\nKevin:<\/b>\u00a0 What about those who are moving through life, they buy their first property, they might have another investment property, they have a large family home, and then they have to downsize because the family moves away. This is another critical stepping-stone.
\nPaul:<\/b>\u00a0 Absolutely. That\u2019s part of the life cycle of property, and it\u2019s creating opportunities for those who are moving up in the market to buy into family homes.
\nIt is interesting as people are downsizing at a particular point, many of them are buying smaller properties that suit their needs better as the family requirements change, and some of those people are also buying an investment property on the side to have as a form of hedging, I suppose.
\nKevin:<\/b>\u00a0 I\u2019ve seen a few people move through that stage, where the family have moved away and they have large homes. They\u2019ll actually sell that and think, \u201cI\u2019ll go and live in a unit now,\u201d and find that unit living is not really for them. What advice would you have for people at that stage of their life, Paul?
\nPaul:<\/b> \u00a0 Once again, I think it\u2019s doing your due diligence up front, Kevin, and being aware of what you\u2019re buying into. For most people, when they\u2019re buying a home they can broadly work out what they might enjoy about a given community \u2013 what the transport linkages are, who is living next door to them, and what\u2019s going on in the area. But it\u2019s very difficult for people who are buying into a unit to see what that community holds.
\nWhat I would often recommend for people who are wanting to make that move is to perhaps retain the family home, go and rent something for six to twelve months and see if you like it.
\nKevin:<\/b>\u00a0 That\u2019s such good advice. I\u2019ve seen people who have committed to selling the family home because they know it\u2019s no longer going to suit them but rather than jump into a unit, they\u2019ll go and rent to find out, one, if they like that kind of lifestyle and if they like the area that they\u2019re moving into.
\nPaul:<\/b>\u00a0 Absolutely. If you\u2019re making that sort of radical change where you\u2019ve been in one location or home for a number of decades, it\u2019s quite a large move, and you want to make sure that the new spot you\u2019re going to holds the sort of attractions that you need.
\nKevin:<\/b>\u00a0 Exactly, and that is such good advice, Paul. Thank you very much, Paul Nugent from Wakelin Property Advisory.
\nThanks again for your time, Paul.
\nPaul:<\/b>\u00a0 A pleasure. Thank you very much, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  First Home Buyer to investor, upsize, downsize and finally retirement. It is a journey but like with very journey you must know the destination before you set out. In today’s show we talk with\u00a0Paul Nugent,\u00a0from Wakelin Property Advisory.   Transcript: Kevin:\u00a0 My guest now…<\/p>\n","protected":false},"author":176692471,"featured_media":5551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10,13,25],"tags":[101],"class_list":["post-5549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"\nFirst Home Buyer to Investor - Paul Nugent - 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\/first-home-buyer-to-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Home Buyer to Investor - Paul Nugent - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  First Home Buyer to investor, upsize, downsize and finally retirement. 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