{"id":6345,"date":"2015-11-15T01:00:16","date_gmt":"2015-11-14T14:00:16","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6345"},"modified":"2015-11-15T01:00:16","modified_gmt":"2015-11-14T14:00:16","slug":"tips-for-recession-proofing-your-portfolio","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/tips-for-recession-proofing-your-portfolio\/","title":{"rendered":"Tips for recession-proofing your portfolio &#8211; Chris Gray"},"content":{"rendered":"<p>&nbsp;<br \/>\nIn today&#8217;s show\u00a0investor and commentator <strong>Chris Gray<\/strong> speaks about how he has recession proofed his portfolio.<br \/>\n&nbsp;<\/p>\n<h4>Transcript:<\/h4>\n<p><b>Kevin<\/b>:\u00a0 As we round out 2015 and head towards a brand new year, it\u2019s a pretty good time to be thinking about your portfolio and how you should be recession-proofing your next investment property as you build your portfolio. Chris Gray is a great friend of ours, a media commentator, a property expert, a TV presenter, an author, and a speaker.<br \/>\nGee, you\u2019re pretty busy, Chris.<br \/>\n<b>Chris<\/b>:\u00a0 It sounds as if I am, but the great thing is with media, you can do it absolutely anywhere in the world and you can leverage and send to thousands of people, so it\u2019s all about efficiency.<br \/>\n<b>Kevin<\/b>:\u00a0 Indeed it is. What\u2019s your strategy for recession-proofing property?<br \/>\n<b>Chris<\/b>:\u00a0 I think the biggest thing is it\u2019s in the quality and the location of the property you buy because like in any recession, you find some businesses do the most amazing business in the recession and not everyone is affected. The main thing with property is if you buy the right property in the right suburb that is attracting the right tenants, there\u2019s no reason for it necessarily to be affected.<br \/>\n<b>Kevin<\/b>:\u00a0 Does it always have to be in a blue-chip area, Chris?<br \/>\n<b>Chris<\/b>:\u00a0 It doesn\u2019t. There are always exceptions to the rule, but I always find that if you stay around main capital cities, there are so many different industries supporting those capital cities that even if one or two industries are put down, there are certainly enough people employed in the other locations versus obviously, if you\u2019re in a one-industry town in, say, mining, for instance, it\u2019s hard to fight back in Perth if the whole mining industry is going down.<br \/>\n<b>Kevin<\/b>:\u00a0 With your portfolio, when you\u2019re looking for a new property, do you always look for something you can add some value to, and does that actually help?<br \/>\n<b>Chris<\/b>:\u00a0 It always helps if you can add value, but for Sydney, for instance, where I\u2019ve been buying, it\u2019s such a heated market, I always say I\u2019d rather buy fully renovated today where I can add no value than buy unrenovated tomorrow, because it might take me three, six or nine months to find something unrenovated and in that time, where I might have made $20,000 or $30,000 on the renovation, I might have paid $50,000 more in the price. It\u2019s all about trying to put things into perspective.<br \/>\n<b>Kevin<\/b>:\u00a0 How important to you is your buffer? I imagine, if we\u2019re talking about recession-proofing your property, you\u2019ve got to be prepared for any sort of economic situation that might come up.<br \/>\n<b>Chris<\/b>:\u00a0 Exactly. In every part of the business world and investing world, they say cash is king and no much more than property. The majority of times people lose money in property is when they\u2019re forced to sell, so if you have cash on hand, just like working capital in the business, even if your tenants move out, or interest rates go up, or you lose your job, if you have cash on hand that can last you maybe one year to three or even five to ten years, then that means you don\u2019t have to sell it and so the chances are if you can hold on, in time, residential property does always come back.<br \/>\n<b>Kevin<\/b>:\u00a0 You\u2019re a professional investor. You\u2019re in the industry. Do you have someone look after your properties, or do you do it yourself?<br \/>\n<b>Chris<\/b>:\u00a0 I do absolutely nothing myself. I always think there\u2019s always someone better who can do it much better than me so I have property managers based here and over in the UK. I say, \u201cLook, if the repair bill is under $500 or even $1000, just get on and fix it. I can\u2019t fix the leaking tap or negotiate a better price, so just get on and fix it.\u201d<br \/>\nI have about 14 properties, and I probably spend half an hour a month. I literally just have an Excel sheet. I count 14 rents coming in, 14 rents going out, and if ballpark the numbers are roughly right, then that\u2019s all I do.<br \/>\n<b>Kevin<\/b>:\u00a0 How often are you checking those against the market to make sure that you\u2019re keeping up with market conditions?<br \/>\n<b>Chris<\/b>:\u00a0 To be honest, I don\u2019t. I just believe in having the right property managers who do their job. They have an incentive that the more rent that they get me then effectively, they charge a percentage of that so they make more money, and at the same time, they won\u2019t go and rent something to try to get another $50 a week if it\u2019s going to risk losing a tenant for a few weeks because they know at the end of the year, then it\u2019s going to cause more grief. It\u2019s all about having a balance between getting a reasonable amount of rent and ideally, virtually no vacancy.<br \/>\n<b>Kevin<\/b>:\u00a0 Chris, great talking to you, mate. Chris Gray, thank you very much for your time.<br \/>\n<b>Chris<\/b>:\u00a0 My pleasure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; In today&#8217;s show\u00a0investor and commentator Chris Gray speaks about how he has recession proofed his portfolio. &nbsp; Transcript: Kevin:\u00a0 As we round out 2015 and head towards a brand new year, it\u2019s a pretty good time to be thinking about your portfolio and how&#8230;<\/p>\n","protected":false},"author":176692471,"featured_media":5062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,25],"tags":[101],"class_list":["post-6345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-sponsored-channels","tag-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tips for recession-proofing your portfolio - 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\/tips-for-recession-proofing-your-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tips for recession-proofing your portfolio - Chris Gray - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"&nbsp; In today&#8217;s show\u00a0investor and commentator Chris Gray speaks about how he has recession proofed his portfolio. &nbsp; Transcript: Kevin:\u00a0 As we round out 2015 and head towards a brand new year, it\u2019s a pretty good time to be thinking about your portfolio and how...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/tips-for-recession-proofing-your-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-14T14:00:16+00:00\" \/>\n<meta name=\"author\" content=\"rolanrush\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rolanrush\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/tips-for-recession-proofing-your-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/tips-for-recession-proofing-your-portfolio\\\/\"},\"author\":{\"name\":\"rolanrush\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/384a57ac9e52cb9bf19896cb15eaa52d\"},\"headline\":\"Tips for recession-proofing your portfolio &#8211; 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