{"id":6117,"date":"2015-10-20T01:00:49","date_gmt":"2015-10-19T14:00:49","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6117"},"modified":"2015-10-20T01:00:49","modified_gmt":"2015-10-19T14:00:49","slug":"easier-ways-to-enter-the-property-market","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/easier-ways-to-enter-the-property-market\/","title":{"rendered":"Easier ways to enter the property market – Chris Gray"},"content":{"rendered":"

 
\nWith property prices continuing to soar across the country, first home buyers and investors are looking for easier ways to enter the property market. In today’s show\u00a0Chris Gray<\/strong>, one of Australia\u2019s property thought leaders, looks at how they are doing it.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin:<\/b>\u00a0 With property prices continuing to soar across the country, first-home buyers and investors are looking for easier ways to enter the property market yet still build wealth for retirement. One of Australia\u2019s property thought leaders, Chris Gray, has the answer. He says rent while building a property portfolio. He joins us.
\nGood day, Chris.
\nChris:<\/b>\u00a0 Hi. Good to see you again.
\nKevin:<\/b>\u00a0 Good to be talking, mate. Thank you.
\nChris, this is an interesting topic, but it is one I have to say that I\u2019ve heard a lot of young people are now doing. Are you seeing that, too?
\nChris:<\/b>\u00a0 Young people; even old people like me are doing it.
\nKevin:<\/b>\u00a0 You\u2019re not old. I\u2019m old. You\u2019re not.
\nChris:<\/b>\u00a0 Look, it\u2019s a classic thing. I was speaking to a bunch of Deloitte accountants yesterday, and I\u2019m saying, \u201cHow many people want to go in the office and tell everyone, tell the world that they rent for a living?\u201d Everyone\u2019s going to look down at you and think you\u2019re poor straightaway. It\u2019s like driving an old secondhand car or something.
\nBut it\u2019s the way of the world these days. It doesn\u2019t make any sense, especially if you want super luxury properties, like the $1 million, $2 million, $5 million, or $10 million properties. This is the perfect way to get in because it\u2019s almost a third of the price.
\nKevin:<\/b>\u00a0 It\u2019s been engrained in us, though, to go and buy a home as opposed to rent because, as you say, there is a bit of a stigma attached to it.
\nChris:<\/b>\u00a0 There\u2019s a massive stigma. It\u2019s like claiming the dole, or buying own-brand foods, or something like that. Our parents always told us rent money is dead money, and that is true, but the main exception is rent money isn\u2019t dead money as long as you\u2019re investing the equivalent amount of money into property, shares, or business, and that\u2019s the key.
\nKevin:<\/b>\u00a0 Yes, that is the way to look at it, too. I guess the other thing, too, Chris, there are some restrictions when you rent. You don\u2019t own the property, so therefore, it\u2019s curtailed as to what you can do it with it.
\nChris:<\/b>\u00a0 That\u2019s what everyone thinks, and that\u2019s the mindset that we all have engrained. But if you think about it, if someone says, for instance, \u201cI can\u2019t paint it the color I want,\u201d if you say to your landlord, \u201cI\u2019m going to get some professional painters in, we\u2019re going to paint it a different color, and when we go to leave, if you don\u2019t like it, we\u2019ll pay the professionals to come in and repaint it again in any color you want, and suddenly you\u2019ve got a brand new painted house or unit,\u201d what landlord is going to complain about that?
\nKevin:<\/b>\u00a0 Not many, I wouldn\u2019t have thought.
\nChris:<\/b>\u00a0 I have put in hot water systems into the pool to heat the pool systems. I\u2019ve offered to put in new kitchens and new bathrooms, and people say, \u201cWhy would you spend $20,000 or $30,000 improving a landlord\u2019s property when they can kick you out?\u201d I say, \u201cThe first thing is if I give them a new kitchen, do you think they\u2019re ever going to kick me out? Of course not, because I\u2019ll give them a bathroom the next year.\u201d
\nIf I\u2019m saving\u2026 As a good example, say a $5 million home and you\u2019re paying, say, 7% interest on it, it costs you, $350,000 in interest. I can rent that home for maybe $150,000. I\u2019m saving a few hundred thousand dollars, so why wouldn\u2019t I spend $20,000 improving it? Because I\u2019m still saving lots of money.
\nKevin:<\/b>\u00a0 Because you\u2019re getting the lifestyle \u2013 aren\u2019t you \u2013 and you\u2019re actually being able to reuse your money much more wisely.
\nChris:<\/b>\u00a0 It is. It\u2019s just like, I guess, going on holiday. You don\u2019t need to buy the holiday resort; you just rent it for a couple of weeks because you only need it for that short time. Think of it as in housing. You only want to use that property for a year or two, so why spend all of that money buying a house, paying all of those in and out costs, whereas an investment, I\u2019m happy keeping my investment for 30 or 40 years, and then I just go and rent wherever I\u2019m comfortable living.
\nKevin:<\/b>\u00a0 The other thing, too, I guess is that by renting, as well, you\u2019re able to really choose the sort of location that you\u2019d like to live in, one that you may not want to invest in as your principal place of residence.
\nChris:<\/b>\u00a0 100%. Look, I got married about eight years ago, and we have two young kids. We just thought when we\u2019re a single couple, we\u2019re going to want different things to when we have little kids, where you have a pram and things like that. Then when the kids are older, you want something different.
\nWe don\u2019t know\u2026 Because we haven\u2019t tried that many houses or different suburbs, so how do we know which is the best one? Let\u2019s try some really big houses, some old ones; let\u2019s try some new houses.
\nWe\u2019re now living in a unit, which most people would think, \u201cWhy would you want to have a family in a unit?\u201d But we\u2019re in a round building. We have 360-degree views around Sydney. We get the whole floor, and you can see the Blue Mountains, you can see the Harbour Bridge, you can see Manly. We never thought we\u2019d want to live in a unit but until you try, how do you know?
\nKevin:<\/b>\u00a0 Yes. Very good topic, and a very good thought, too, Chris. Chris is one of the speakers who will be on stage at the 2015 Property Buyer Expo. It\u2019s on later this month, October 30 and November 1. It is actually at the Sydney Showground in Homebush.
\nYou have some tickets to give away, as well.
\nChris:<\/b>\u00a0 Yes, exactly. I think it\u2019s something like $15 or $20 to get in, if you just want to get on the website or pay on the door. But if you go PropertyBuyerExpo.com.au, there will be a promotional code in there. If you put in \u201cEmpire,\u201d then they\u2019ll e-mail you those tickets for free.
\nKevin:<\/b>\u00a0 That is fantastic. Well done, mate. Thank you.
\nChris:<\/b>\u00a0 My pleasure.
\nKevin:<\/b>\u00a0 I look forward to seeing you there, too, Chris.
\nChris:<\/b>\u00a0 Sounds great. Thanks a lot.<\/p>\n","protected":false},"excerpt":{"rendered":"

  With property prices continuing to soar across the country, first home buyers and investors are looking for easier ways to enter the property market. In today’s show\u00a0Chris Gray, one of Australia\u2019s property thought leaders, looks at how they are doing it.   Transcript: Kevin:\u00a0…<\/p>\n","protected":false},"author":176692471,"featured_media":4760,"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-6117","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":"\nEasier ways to enter the property market - Chris Gray - 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\/easier-ways-to-enter-the-property-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Easier ways to enter the property market - Chris Gray - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  With property prices continuing to soar across the country, first home buyers and investors are looking for easier ways to enter the property market. 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