{"id":6480,"date":"2015-11-27T12:00:53","date_gmt":"2015-11-27T01:00:53","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6480"},"modified":"2015-11-27T12:00:53","modified_gmt":"2015-11-27T01:00:53","slug":"top-regional-markets-potential-for-positive-gearing-buyer-looses-a-bedroom","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/top-regional-markets-potential-for-positive-gearing-buyer-looses-a-bedroom\/","title":{"rendered":"Top regional markets | Potential for positive gearing | Buyer looses a bedroom"},"content":{"rendered":"

 
\nAustralia is a country with a very sizeable land mass and it\u2019s usually only the big profile cities which get mentioned in property market commentary. Today Simon Pressley<\/strong> identifies some regional markets that are well worth investigating for good returns.
\nWhy would a rich person waste time writing a book helping others to get rich? That is a question I put to Michael Yardney<\/strong><\/a> in the show today because it is a question that has been asked. Why not instead relax, do very little and enjoy the success. Michael puts it into perspective.
\nThe goal of an investment property is to make money. The good news is, there are more ways to profit than just collecting rent. Brad Beer<\/strong><\/a> explains.
\nThe times they are a changin\u2019 and now it the legal profession undergoing change or disruption. Mira Stammers<\/strong> tells us about a new website she has created that makes getting a solicitor on a fixed rate so much easier.
\nIt used to be that negative gearing was the in-vogue investment strategy. Rachel Barnes<\/strong> remembers people looking at her strangely and thinking it mildly humorous when she found and endorsed the potential of positive gearing back in early 2000. She tells the story of her success if that category.
\nYet another horror story about buying off the plan from Patrick Bright<\/strong>. While he admits he has done it he outlines what he has learnt the hard way.
\n <\/p>\n

Transcripts:<\/h4>\n

Brad Beer<\/a><\/h3>\n

Kevin<\/b>:\u00a0 There\u2019s an old saying in life, \u201cHappy wife, happy life.\u201d But there\u2019s another one, too, that you should bear in mind, and that is, \u201cHappy tenant is going to make you a very happy landlord.\u201d
\nOne great way to keep your tenants happy is to look at renovating your property, continually improving it, and making it a better place to live. That\u2019s the subject of this conversation I\u2019m about to have with Brad Beer from BMT Tax Depreciation.
\nOne might wonder where tax depreciation works in with renovation, Brad, but it really does have a place to play, doesn\u2019t it?
\nBrad<\/b>:\u00a0 Yes, it does. I have a few properties myself. I\u2019ve done a lot of renovations, and it always gives you a bit more choice of tenants and helps you sometimes to get that little bit of premium out of that property. Renovating the properties has always worked pretty well for me.
\nNow, the claims. You buy more things within an investment property. You spend money on capital works. There\u2019s more depreciation to claim. Definitely, you\u2019re putting your things in there, they have value, and they\u2019re starting to depreciate as soon as they\u2019re in there, so there\u2019s claims there for either the plant and equipment or those capital works that have been done.
\nKevin<\/b>:\u00a0 What are some of the big-ticket items that you can claim depreciation on that are actually going to turn the tenants on in your experience, Brad?
\nBrad<\/b>:\u00a0 People walk into a house and they look at kitchens and bathrooms straightaway and go, \u201cThat\u2019s a nice kitchen. I can see myself cooking there. Nice bathroom.\u201d After that, if there\u2019s paint coming off the walls or the carpet is really old or things like that, anything within a property that just makes it look old and tired or smelly or anything like that.
\nEven if you don\u2019t do kitchens and bathrooms, a carpet or floating timber boards. These days they have some things that are less expensive than they use to be, and they\u2019re also depreciable quicker. Tidying those things up and the paint really freshens a property up really easily and inexpensively.
\nKevin<\/b>:\u00a0 Yes. The lifespan of some of these items, too, like a new kitchen\u2026 For instance, if we spent $15,000 putting a new kitchen into a property, what kind of benefit can I expect over what period, Brad?
\nBrad<\/b>:\u00a0 The kitchen itself is seen as a capital works deduction that must be claimed, so kitchen benches, tops, and cupboards have actually got a 40-year life, which is a long time. The things like the stove or carpets \u2013 obviously, carpets aren\u2019t in kitchens very often \u2013 but things that are plant and equipment \u2013 range hoods \u2013 that don\u2019t last as long, you get to claim a fair bit quicker.
\nYour actual kitchen itself is a fairly slow claim. However, putting a new kitchen in is also about happy tenants, better tenants who\u2019ll pay a premium for those, and also making the house more valuable, so you have equity gain on that property.
\nDepreciation is not the reason to replace a new kitchen; it\u2019s a benefit at the back end of it.
\nKevin<\/b>:\u00a0 Yes. Anything that\u2019s going to keep the house in good repair is going to be good for its ongoing value. Interesting we talk here about renovations, Brad, because another part that I want to touch on, as well, and that is something you should do before the renovation, and that is work out about scrapping deductions. Tell me how they work?
\nBrad<\/b>:\u00a0 The most important thing is to make sure you have the depreciation and things worked out before you rip it apart. Renovators call the quantity surveyor first.
\nScrapping: when you decide to do some renovations, there are things within that property that probably still had some value from a depreciation aspect. Now we\u2019ve said old properties still get deductions, so we\u2019ll find out whether there are things there that could be claimed. Now any value that\u2019s left, if you throw them away, instead of continuing to depreciate them, they\u2019re an instant deduction in the year that you throw that away.
\nI\u2019ve done some renovations where I\u2019ve had $10,000 scrapping deductions before. These were things that still had value that I would have been claiming over the next five years or however long, but because I threw them away, I got an instant deduction in that year.
\nThe important thing is to look at it before you rip it apart.
\nKevin<\/b>:\u00a0 Gee, there must be a lot of renovators or investors who just don\u2019t understand that that money is sitting there, and they just totally waste it, Brad.
\nBrad<\/b>:\u00a0 Scrapping is not the tax office term; it\u2019s just an easy thing to understand. If we talk about claiming the residual value of items, people start to maybe fall asleep a little bit more. But if I say, \u201cDon\u2019t scrap and lose your money,\u201d scrapping is an easy word to understand.
\nKevin<\/b>:\u00a0 Yes. It is, indeed. It\u2019s always good talking to you, Brad Beer from BMT Tax Depreciation. Contact the guys through our website, of course. He is there to help you.
\nBrad, thanks for your time.
\nBrad<\/b>:\u00a0 Thanks, Kevin. It\u2019s always a pleasure.
\n <\/p>\n

Michael Yardney<\/a><\/h3>\n

Kevin<\/b>:\u00a0 Last week on the show, I was talking to Michael Yardney<\/a> about his new book \u201cMichael Yardney\u2019s Guide to Getting Rich.\u201d<\/span><\/em><\/a> He joins me once again.
\nGood morning, Michael.
\nMichael<\/b>:\u00a0 Good morning, Kevin.
\nKevin<\/b>:\u00a0 Michael, interesting, I saw a blog that you wrote just recently in response to a question you had from someone who said, \u201cWhy would someone who\u2019s rich want to write a book about others getting rich?\u201d
\nMichael<\/b>:\u00a0 I guess the implication in that, Kevin, was why would somebody who\u2019s rich share their secrets? Kevin, to me, that\u2019s the type of question asked by a poor person, somebody with a scarcity mentality.
\nKevin<\/b>:\u00a0 I understand what you mean.
\nMichael<\/b>:\u00a0 Maybe I should first of all explain the reason I wrote it, and then I\u2019ll go back to why I think it\u2019s a scarcity mentality. Is that okay?
\nKevin<\/b>:\u00a0 Please do.
\nMichael<\/b>:\u00a0 The reason I took the time to write my book is because I enjoy writing about the topic of the psychology of success. Kevin, it\u2019s a topic I\u2019ve been studying carefully for over 25 years. Over the last 10 or 12 years now, I\u2019ve been mentoring people, and I\u2019ve been writing about wealth creation online and in hard-copy magazines. I\u2019m proud that a lot of people recognize me as a leading expert in this field. That makes me pleased to share my knowledge.
\nKevin, in fact, I think it\u2019s my obligation to share my knowledge and give back to the world that has given me so much. But, of course, it actually helps that I\u2019ve got the time and freedom to do what I please because I\u2019ve built a substantial property portfolio that\u2019s given me the cash machine I talk about.
\nKevin<\/b>:\u00a0 The other thing, too, Michael, I have noticed in life that if you really like doing something and you want to become better at it, the best way to do it is to actually share that knowledge because it\u2019s a learning process, as well.
\nMichael<\/b>:\u00a0 Kevin, a lot of people misunderstand the mentoring relationship. They see it as one-sided, that a student takes from a teacher. In fact \u2013 you\u2019re right \u2013 it\u2019s the other way around. I find that by helping people, by mentoring people, it actually doesn\u2019t just pay forward, it doesn\u2019t just give back to the community, I gain a lot from it. It\u2019s very much a win-win, Kevin.
\nNow that also goes together with the concept of why I think the question of \u201cWhy would you even want to share your secrets?\u201d comes from a scarcity mentality because it doesn\u2019t work that way at all. Kevin, if I build a big property portfolio, does it stop you from getting one?
\nKevin<\/b>:\u00a0 No.
\nMichael<\/b>:\u00a0 No. If I get a big share portfolio, does it stop you from building one? But most people think either\/or, and that\u2019s not the case at all. Again, there are no secrets that I\u2019m actually giving away. There are no secrets in this book.
\nIt\u2019s just a concept I was saying that people think, \u201cWell, the wealthy people have got these ideas, and they\u2019re not going to share them.\u201d No. There\u2019s enough for everyone, and there\u2019s definitely enough to go around.
\nMy thinking is the more wealthy people in Australia, the better it is for everybody. It lifts us up to a standard rather than brings us down to a standard that some people want us to live at, those people who aren\u2019t pleased when they see other people successful.
\nKevin<\/b>:\u00a0 Well, Michael, I certainly hope that message does resonate and that many more people do want to or aspire to do that. A good way to do it, of course, is to simply get a copy of Michael\u2019s book, which is called \u201cMichael Yardney\u2019s Guide to Getting Rich.\u201d<\/span><\/a> As we promised last week, there is a button on the show page at RealEstateTalk.com.au for you to go straight through, and it\u2018ll tell you how you can secure that book for yourself.
\nMichael, thank you so much for your time.
\nMichael<\/b>:\u00a0 My pleasure, Kevin.
\n <\/p>\n

Mira Stammers<\/h3>\n

Kevin<\/b>:\u00a0 We\u2019re hearing about disruption in a lot of industries. Remember those days when you use to go to a solicitor and never quite know what it was going to cost you? Well, those days could be well and truly over. There\u2019s a new firm called LegallyYours.com.au. I\u2019m talking to the person behind that, Mira Stammers.
\nHi, Mira. How are you?
\nMira<\/b>:\u00a0 Hi. I\u2019m really well, Kevin. How are you?
\nKevin<\/b>:\u00a0 I\u2019m well, thank you. How does Legally Yours work, and why did you set it up?
\nMira<\/b>:\u00a0 Legally Yours is really a solution for business owners and other Australians looking for legal services on a price-certainty basis. I was working in London in a fixed-fee environment, and I came back to Melbourne and really noticed that it wasn\u2019t available in a wide capacity in Melbourne. At the same time, I kept seeing all of these really talented women leaving the profession because of the lack of the flexible <\/b>nature.
\nI wondered how I could put those two things together and eventually came up with Legally Yours. It\u2019s a way to access legal services on a fixed-fee basis utilizing a pool of very talented women who work predominantly virtually.
\nKevin<\/b>:\u00a0 They are all women who are online?
\nMira<\/b>:\u00a0 There are men and women but predominantly women who have signed up to the service because of the flexible nature of it. Certainly, we can service all different areas of law, and we have specialists in all areas \u2013 so family lawyers, commercial lawyers, employment lawyers and whatnot.
\nKevin<\/b>:\u00a0 The fixed-fee arrangement I guess is probably the description. Is that more common overseas than it is in Australia?
\nMira<\/b>:\u00a0 I did find it to be more common in London. Certainly, even on big transactions, there was a demand for fixed fee. I think clients cottoned on to the fact that there is more bargaining power, perhaps because the GFC was a bit more hit over there.
\nI came back and thought, \u201cWe\u2019re behind the times here. We really need to be listening to what clients want and giving it to them.\u201d I just found that law firms here weren\u2019t doing that.
\nKevin<\/b>:\u00a0 Apart from the fixed fees, what have you heard in feedback about other frustrations with the current legal system?
\nMira<\/b>:\u00a0 Well, part of my market research at the outset was to ask business owners and ordinary Australians, \u201cWhat do you hate about lawyers?\u201d
\nKevin<\/b>:\u00a0 Where do you want me to start?
\nMira<\/b>:\u00a0 That was commonly the response, and so I listened to that. I really listened. I think lawyers by their nature are very risk-averse. They tend to want to do things in a way that suits them. That\u2019s fine, but it hasn\u2019t been working for clients for decades.
\nI really listened to what clients wanted.\u00a0 They wanted not only fix fee, but they wanted lawyers who weren\u2019t elitist. They wanted to be able to pick up the phone and not be billed every time they do. They certainly wanted to be able to entrust in their lawyers and know that basically there was value-based billing, and they could make sure that they got their phone calls returned and the correspondence was there, as well.
\nI think lawyers by their nature also haven\u2019t been very responsive to clients. I really wanted to shake that up and change that and do the best that we could to give clients exactly what they want.
\nKevin<\/b>:\u00a0 What reaction have you had from legal firms?
\nMira<\/b>:\u00a0 It\u2019s been varied. Some have been very supportive. Others have said, \u201cOh. That\u2019s never going to work, and why would lawyers do that when we can charge hourly rates?\u201d I think those lawyers will find out over time that this is working and it\u2019s really about being innovative in your approach and progressive in your thinking.
\nKevin<\/b>:\u00a0 I guess it would be fantastic for lawyers who don\u2019t want to be caught up in a large firm, maybe do a little bit of work for themselves, and as you say, ideal for women who don\u2019t want to be in the full-time work force anymore.
\nMira<\/b>:\u00a0 Absolutely, and I think they\u2019re a very underutilized talent pool. There are lots of women out there who have had amazing training and have great experience, and perhaps they\u2019re at home looking after their kids and they want to continue to do some work. But private practice, the way it is set up, doesn\u2019t really support that. There are some firms doing it out there, but not many. I really wanted Legally Yours to support women to stay in the law so that we didn\u2019t lose these talented women.
\nKevin<\/b>:\u00a0 There are so many other things I want to cover with you, too, but unfortunately, we are out of time. I\u2019d love to get you back into the show just to talk to us about some of the things that you\u2019re finding \u2013 legal tips for investors, etc. We\u2019ll have to get you back at a later time for that, Mira.
\nI want you to check out the address. It is Legally Yours.com.au.
\nMira, once again, we\u2019ll look forward to having you back in the show at some future time. Thanks again for your time.
\nMira<\/b>:\u00a0 Thanks, Kevin.
\n <\/p>\n

Patrick Bright<\/h3>\n

Kevin<\/b>:\u00a0 Buyer\u2019s agent Patrick Bright joins me. Patrick, of course, is from EPS Property Search.
\nGood day, Patrick. How are you doing?
\nPatrick<\/b>:\u00a0 Very good, Kevin. Nice to speak with you.
\nKevin<\/b>:\u00a0 Good. Nice talking to you, too. I want to talk to you specifically about buying off the plan and what you\u2019re seeing with certain developers enacting the sunset clause. You might tell us firstly what the sunset clause is.
\nPatrick<\/b>:\u00a0 A sunset clause is a clause in a contract that says that if a property takes a certain amount of time, it has an expiry date, so if the developer is taking too long, the buyer can actually withdraw from the contract and get their deposit back.
\nBut by the same token, if the property is taking that long \u2013 usually the same date \u2013 let\u2019s say, it\u2019s a two-year project, and we\u2019re at two and a half years, the seller can say, \u201cAll right. I\u2019m going to terminate the contract,\u201d or the buyer can terminate the contract.
\nNow if the market goes up \u2013 and as we\u2019re seeing and it\u2019s been well publicized \u2013 several developers have enacted that sunset clause, given the original buyer their 10% deposit back, and then they\u2019ve gone off and resold the property for significantly more money.
\nIf the situation is on the other foot, what we\u2019re not seeing is when these projects are actually worth less money than what the purchaser signed up to buy it for at completion, the developers are making sure they\u2019re completing them within the timeframe, so their sunset clause isn\u2019t being exposed.
\nIt\u2019s a gray area from the point of view of are the developers purposefully dragging the contract out, and in some cases, are they making sure they finish in others? That\u2019s pretty much what we\u2019re seeing happen.
\nKevin<\/b>:\u00a0 Well, you probably would have seen a lot of that happening in the Sydney market with the way that market\u2019s certainly turned in the last year or so.
\nPatrick<\/b>:\u00a0 It certainly has. Yes, we have seen a lot of that. That\u2019s what\u2019s been well publicized recently of a number of developers doing that.
\nKevin<\/b>:\u00a0 You can obviously just turn around and renegotiate the contract if you want. Are you seeing much of that happening?
\nPatrick<\/b>:\u00a0 Not really. What we\u2019re seeing is they\u2019re saying, \u201cYou may have signed up to buy this property at $800,000 two years ago, but now the market has gone up, it\u2019s actually worth $1 million. Here\u2019s your 10% deposit back. I\u2019m going to re-sell it for $1 million.\u201d
\nThe buyer either pays that $1 million, or they end up with their deposit back. You have a number of problems there. You have lost opportunity cost. You\u2019ve missed out on the growth of the market over that time.
\nLook, off the plan isn\u2019t for everybody. I have personally done it myself before. I haven\u2019t done it for any clients or myself essentially since 2008. A lot of things changed in 2008. Rules affecting foreign buyers in Australia changed and allowed 100% of new development to be sold to foreigners. Previously to that, it was restricted to 50%, so that meant they had to get the sales here.
\nSo you\u2019re having a situation where it\u2019s well known in the industry that foreigners will pay a lot more than the local market, so we\u2019re seeing inflated prices, developers chasing the foreign dollar. They\u2019re getting presales, and then they\u2019re using those presales to influence local market on price.
\nEven though we\u2019ve had fantastic growth in the last couple of years in Sydney, properties are only just coming in on valuation. That means people were paying 20% or 30% more than they should have a couple of years ago because the foreign buyer is pumping up the market. That\u2019s another concern with off the plan.
\nYou have situations where they have shrinkage clauses, and they\u2019ve changed the size of the properties. There\u2019s a recently well-publicized case of a gentleman who thought he bought a one-bedroom apartment, but they changed the size of it and he ended up with a studio. Now that changes the price significantly. If you don\u2019t have a proper one-bedroom and you\u2019ve now got a studio, you\u2019re talking possibly 20% to 30% of the value of the property.
\nKevin<\/b>:\u00a0 The two major clauses there that would concern any purchaser \u2013 or they should \u2013 are that sunset clause and that shrinkage clause. Is there any way that you can knock both of those out of the contract?
\nPatrick<\/b>:\u00a0 You could if you get a developer that will agree to it. I\u2019m not aware of any that have agreed to it. When I did these off-the-plan purchases for myself and other clients in a different rule environment, we did negotiate with the sunset clause that it was our discretion not the developers. The sunset clause was there but they couldn’t terminate that clause, only we could enact it \u2013 to tie them to us, so we had the upper hand there.
\nBut getting shrinkage clauses, they ask for different percentages. Some of them are 5%. Some are 3%. You need to negotiate that. These things are negotiable, but in a strong market, you\u2019re not getting developers being flexible.
\nThis is the problem with access to the foreign buyer like never before, with unrestricted access to the foreign buyer with new products, getting the FIB approval is very simple for these guys these days. They don\u2019t have to be flexible, whereas before, they were flexible because they had to sell to the local market, as well. Now they do sell to the local market but only generally after they\u2019ve sold to the foreign market.
\nKevin<\/b>:\u00a0 It would be pretty wise, with all of these conditions floating around, that you make sure that you engage a lawyer who is a specialist in off-the-plan type purchases.
\nPatrick<\/b>:\u00a0 Very much so, Yes. Look, off the plan, as I said before, I\u2019ve done it, but more than a decade ago was the last time I did it. The rules have changed. It is concerning. You do need a lawyer.
\nI\u2019ve come to the conclusion \u2013 although, I didn\u2019t see it that way back then when I was buying myself \u2013 that it\u2019s speculating. You\u2019re not investing. If you\u2019re buying off the plan, you are speculating. Let\u2019s just call it what it is.
\nYou\u2019re taking a punt on a lot of things. You\u2019re punting on the market going up. You\u2019re punting on what interest rates are going to be like at the time. You\u2019re punting on how banks are going to value it, which is another issue.
\nBanks now have changed the rules. If you bought a property off the plan a couple years ago and you go to settle now, in the last six months, we\u2019ve had a lot of changes in the rules. Banks now want 20% deposits if you\u2019re in a capital city. Before, they would take 10%. Regionally, they want a 30% deposit. You look at these things. If you only had 10% required before, where do you come up with the other 10% or 20% if you don\u2019t have it?
\nKevin<\/b>:\u00a0 You don\u2019t.
\nPatrick<\/b>:\u00a0 Right. Now you get also a situation where you can default. What happens then is you can\u2019t pay the balance, the developer takes your 10% deposit, resells the property, and can sue you for the difference. If they sold it for 80% of its value, they can chase you for the other 10%. You\u2019re exposed. You\u2019re very exposed. It\u2019s something that\u2019s quite high risk. The deeper you look into it, you scratch your head and you wonder why you\u2019d do it.
\nKevin<\/b>:\u00a0 Certainly a lot to think about there. Patrick, I want to thank you for giving us your time and drawing that to our attention. Patrick Bright, of course, from EPS Property Search and Property Management.
\nThanks for your time, Patrick.
\nPatrick<\/b>:\u00a0 A pleasure, Kevin.
\n <\/p>\n

Rachel Barnes<\/h3>\n

Kevin<\/b>:\u00a0 My next guest is Rachel Barnes from InvestorFriendlyAgents.com.au.
\nRachel, thanks for your time.
\nRachel<\/b>:\u00a0 You\u2019re welcome, Kevin.
\nKevin<\/b>:\u00a0 No doubt, as we\u2019re talking to many property investors around Australia, we get to talk about positively geared property and negatively geared property. Let\u2019s talk about positively geared because I know that you\u2019ve basically built quite a good portfolio on that strategy. Is it still possible, Rachel, to do that?
\nRachel<\/b>:\u00a0 Yes, it is. It\u2019s just harder to find new negatively geared property, and that\u2019s the thing. Often people either put it in the category that \u201cIf I get positively-geared property, I won\u2019t get capital growth\u201d \u2013 and I haven\u2019t found that to always be the case \u2013 or they think it\u2019s too hard to find. But there are compromises sometimes that you have to make, and that\u2019s where it gets down to just choosing the right property in the right place for your strategy.
\nKevin<\/b>:\u00a0 Do you find that you can work with buyer\u2019s agents in this way? A positively geared property depends on how much capital you\u2019re putting yourself in a lot of cases, doesn\u2019t it?
\nRachel<\/b>:\u00a0 Well, sometimes, and that\u2019s just the thing. You see a lot of places advertising positive cash-flow properties, but you really have to check the assumptions that they\u2019ve put on there because they may be assuming that you\u2019re only borrowing half the amount. But, of course, then it\u2019s going to be much easier to make it positively geared.
\nWhereas, when I look at it, I\u2019m looking at more 80% to 100% of a loan \u2013 one way or the other, either using two properties or one to make it still positive cash flow so that I can buy as much as possible.
\nKevin<\/b>:\u00a0 You mentioned earlier in our chat about the possibility of getting capital growth and cash flow at the same time. Is that possible?
\nRachel<\/b>:\u00a0 Yes. It\u2019s funny because sometimes you go into a property and you know it\u2019s negatively geared and you think, \u201cBut that\u2019s okay. I\u2019ll just hope and pray that we\u2019ll get capital growth, and then we\u2019ll be fine because everything will catch up.\u201d
\nOf course, the longer you go, the harder it can be, and then you can end up sometimes selling it for a loss because you couldn\u2019t wait long enough because of the cash-flow negativity to actually reap the capital gain benefit, so that can go backwards.
\nWhereas, with positively cash flow, if you\u2019re picking the time right, you buy well, you get the right type of property in the right area, and you have the positive cash flow come through, you\u2019re not going to be in such a hurry to sell it. Therefore, you can hold on until the time is right in the market.
\nKevin<\/b>:\u00a0 In your experience, have you found that there are some places or some areas around Australia that are better to pick up positive cash flow properties than others?
\nRachel<\/b>:\u00a0 Yes, but it all comes down to timing. Obviously, as I mentioned before, if you have positive cash flow, you can hold onto it to pick the right timing, but also getting in at the right time.
\nFor example, there\u2019s no way I\u2019d be looking at Sydney at this point in time and saying, \u201cOh, yes. It\u2019s easy to get a positive cash flow property in Sydney,\u201d because that\u2019s just going to be really difficult. I wouldn\u2019t say impossible \u2013 nothing is impossible \u2013 but very, very difficult.
\nWhereas, when you go out a bit further and you look at the ripple effect, where housing still basically hasn\u2019t caught up with the capital growth perspective but is getting the high yields because that growth has been kept down, then often, you\u2019re actually riding a wave before it hits the shore, if you know what I mean.
\nKevin<\/b>:\u00a0 Yes. What should we be looking out for as a positive cash-flow property?
\nRachel<\/b>:\u00a0 Generally, just to be sure of what we\u2019re looking at, the positive cash flow means that after all of your expenses, the property is still going to be putting some money in your pocket. That may be partly due to depreciation, depending on what tax structure you\u2019re on, but also generally, it means that you\u2019re getting somewhere around a 7%-plus yield.
\nIf you assume that 5% is going to be gone in interest, 2% might be going into extra costs. I\u2019m just talking about ballpark figures here, but generally speaking, you\u2019re looking at least getting a 7% growth yield before you\u2019d even start to put it into an analysis software to work out exactly what the end result cash-flow-wise would be for you.
\nKevin<\/b>:\u00a0 It is a possibility that you might be able to secure a property and then add a bit of value to increase the income, which is going to make it a bit more positively geared for you? Is that a way to go?
\nRachel<\/b>:\u00a0 Indeed, it is. That\u2019s one of the best strategies I believe at this point in time in a lot of places, because if you can buy a property that\u2019s run down, doesn\u2019t have much income coming in at the moment, and you can increase the value of the property, as well as the income from the property, as well as the depreciation because of the work that you\u2019re doing on the property, then you have three real major benefits with that.
\nKevin<\/b>:\u00a0 I guess subdivision would fall into that category, as well as renovation, wouldn\u2019t it?
\nRachel<\/b>:\u00a0 It does. Granny flats are also starting to fall into that category in some areas, where people are adding an extra dwelling so that they can get some extra income. It doesn\u2019t always add to your capital growth, but it does add to your yield, and therefore, you can hang on for a bit longer and you have more property on that lot. So, yes, there are a number of different factors, but subdivision is one of the keys where you can sometimes get a block of land for free.
\nKevin<\/b>:\u00a0 Yes, that\u2019s right. A big bonus, isn\u2019t it?
\nI mentioned at the start, too, I introduced you as being from the website InvestorFriendlyAgents.com.au. That\u2019s a business you\u2019ve set up to educate agents about how to talk to investors. Are you finding that you\u2019re having some wins there, Rachel?
\nRachel<\/b>:\u00a0 It\u2019s interesting; I was advertising it for a little while, but I found that I was getting the wrong type of agents contacting me \u2013 the people who were trying to sell off-the-plan properties to perhaps very na\u00efve investors who don\u2019t really understand what they\u2019re getting into.
\nI stopped advertising; I\u2019m basically going by word of mouth. Since then, I\u2019ve found it really good. I\u2019ve included property managers, but the agents I\u2019m finding that I\u2019m getting sourced through word of mouth. We have some amazing agents out there with very high integrity, people who are really eager to help their customers and to leverage and help investors to buy more property and sell those at the right time.
\nYes, it\u2019s really nice to actually find people in the industry where it\u2019s got sometimes such a bad reputation, but there are an amazing number of really great, ethical, high-integrity agents and property managers out there. I love to connect with them.
\nKevin<\/b>:\u00a0 Yes. Is there a list of these agents somewhere? Is it on your website?
\nRachel<\/b>:\u00a0 It is. We\u2019re still in the process. I have a number of property managers that we\u2019re just starting to go through now, so that\u2019s the extra arm, but we\u2019re trying to do teams, so the agent, the property manager, even the receptionist, altogether, and do agency-by-agency.
\nBut even though, I go out to the agents as a whole, I do the training for the whole lot of them so that they\u2019re on the same page, I do find that I\u2019m only going to be accrediting the people individually, because people can move on, agencies can change hands. It\u2019s all down to checking with the person that they\u2019ve actually got their certificate of accreditation if you\u2019re dealing with them.
\nKevin<\/b>:\u00a0 The website is InvestorFriendlyAgents.com.au. My guest has been Rachel Barnes.
\nRachel, thanks for your time.
\nRachel<\/b>:\u00a0 A pleasure. Thanks a lot, Kevin.
\n <\/p>\n

Simon Pressley<\/h3>\n

Kevin<\/b>:\u00a0 Well, Australia is a big country, and if you look around the country, you\u2019ll notice that a lot of the focus for property investors is on the cap city markets, mainly because most people choose to live in those capital city markets. But look outside those, and there are some really interesting regional markets. Even if you drill down further, there are some really interesting smaller regional markets.
\nThat\u2019s the focus of this conversation that I\u2019m about to have with Simon Pressley from Propertyology.
\nSimon, I notice that amongst other areas, you did have a look at Tasmania. Hi. How are you?
\nSimon<\/b>:\u00a0 I\u2019m very well, Kevin, and you?
\nKevin<\/b>:\u00a0 Good, mate. So Tassie is one of those markets that you\u2019ve looked on, you\u2019ve given to us as a very good example?
\nSimon<\/b>:\u00a0 Yes. We picked the local government authority of West Coast \u2013 which is North West Tasmania, Kevin \u2013 just to highlight one of literally dozens of examples to property investors of locations right throughout Australia where they have a small population base but are very, very affordable typical property price point that have actually performed, in a lot of cases, a lot better than high-profile cities.
\nKevin<\/b>:\u00a0 Is there a typical population size that you look at, Simon?
\nSimon<\/b>:\u00a0 No, not really. West Coast, for example, the whole region has only got a population of 4500 people, which is small, really. I guess the most prominent town within West Coast is Strahan, which is quite a sleepy, popular tourist attraction. It\u2019s very, very scenic, and its industry is really cottage tourism with a little bit of agriculture around it. But a typical three-bedroom house in Strahan today, Kevin, would cost around about $130,000.
\nKevin<\/b>:\u00a0 What sort of return would you get for that?
\nSimon<\/b>:\u00a0 How does 11% rental yield sound for you?
\nKevin<\/b>:\u00a0 Oh, that sounds pretty good to me. No worries with vacancy? There are still plenty of people wanting them?
\nSimon<\/b>:\u00a0 Yes, that\u2019s the risk with these things, I suppose. When you have a small population base and the property does become vacant, I guess that increases the chances of a prolonged period of vacancy, and then that\u2019s probably a bit similar to a commercial property investing where a typical vacancy rate is 15% or 16%.
\nThat is a risk, but that\u2019s also balanced by the holding costs. The properties themselves are so affordable, the holding costs are so much smaller than in these bigger-profile cities.
\nKevin<\/b>:\u00a0 What are some of the other examples you have around Australia where the small fish can be a lot sweeter?
\nSimon<\/b>:\u00a0 So to put some context around the thing, West Coast that we\u2019ve just been talking about, it\u2019s had a total return of 20.5%. That\u2019s average annual capital growth and rental return over the last 15 years.
\nLet\u2019s look at some other parts of Australia. Barcaldine in Central Queensland has got a typical property of about $152,000 for a three-bedroom house. The population in Barcaldine is only 3500 people, but yet it\u2019s had a total return of around 20% over the last 15 years.
\nFurther south in Victoria, there\u2019s a little regional town called [3:14 inaudible]<\/b>, which is really dairy country, not far from the Great Ocean Road. $162,000 for a typical three-bedroom house and an 18.2% total return.
\nThere are dozens of these all around the country.
\nKevin<\/b>:\u00a0 How do we find these locations, apart from doing the hard work ourselves? Do you make them available on your website?
\nSimon<\/b>:\u00a0 We haven\u2019t published a report as such. We have put the one about West Coast, which is titled \u201cSmall Fish are Often the Sweetest,\u201d up on the Propertyology website to get a bit of a rundown of it. The intention is just to really stretch the property investor\u2019s imagination about what\u2019s really available out there.
\nKevin<\/b>:\u00a0 Yes. If you\u2019d like to know a little bit more and you\u2019d like to contact Simon Pressley and his team, you can do that through Propertyology.com.au. There\u2019s lots of great information there, and you can contact the boys directly.
\nSimon, thanks for your time.
\nSimon<\/b>:\u00a0 My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

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