{"id":7322,"date":"2016-03-11T12:00:11","date_gmt":"2016-03-11T01:00:11","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=7322"},"modified":"2016-03-11T12:00:11","modified_gmt":"2016-03-11T01:00:11","slug":"changes-that-add-value-5-must-ask-questions-for-every-property-investors","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/changes-that-add-value-5-must-ask-questions-for-every-property-investors\/","title":{"rendered":"Changes that add value + 5 Must Ask Questions for every property investors"},"content":{"rendered":"

 
\nThis week we are joined by not one but 2 television personalities as we look inside and outside a property to see what adds value. Graham Ross<\/strong> from Better Homes and Gardens takes care of the outside while stylist and judge on the Block, Darren Palmer<\/strong> has some great advice about getting the inside of a property looking great.
\nMichael Yardney<\/strong><\/a> tells us about the 5 \u2018must ask\u2019 questions every property investor should ask while Jane Slack-Smith<\/strong> gives us the renovation lowdown. Hear about her live renovation workshop webinar that was a huge hit.
\nWe talk to former Olympian Mark Stockwell<\/strong> who has taken his family development company to new heights and Simon Pressley<\/strong> from Propertyology adds his voice to the Negative Gearing debate.
\nMeanwhile Ivan, a regular listener, posed an interesting question about charging an electric car in a strata situation. Who pays for the power? Well there is a solution and we hear about it from Michael Teys<\/strong>.
\nWe also tell you about badly behaving banks and the untapped millions sitting in some investment properties.
\n <\/p>\n

Transcripts:<\/strong><\/h4>\n

Michael Teys<\/h3>\n

Kevin<\/b>:\u00a0 I\u2019m going to answer a question in the show now that came in from Ivan. Ivan, thank you very much. This is an interesting question because it just shows how the rental market or the property market does actually evolve. It\u2019s a question that\u2019s directed straight to strata guru Michael Teys, who joins us in just a moment.
\nI\u2019ll read Ivan\u2019s e-mail first: \u201cI have a unit in a complex of eight and we all share a common garage. We have a unit owner from out of town, who lives in the property every two to three months. He has an electric car that he leaves in the common garage.
\nHe plugs it into the common power point and puts a sign up that says \u2018Do not turn off.\u2019 He does that so that his car is fully charged when he visits next time as I understand the battery goes flat after about one month of not being used.
\nWe\u2019ve tried to talk to him about not using the common power, as we\u2019re all paying for the charging of his car, but he says he has no other choice. His unit is at the back of the complex and quite a long way from the garage.
\nMy question is how do we resolve this issue? I\u2019m sure this will be more of an issue in the future as electric cars become more common.\u201d
\nI\u2019m sure they will, Ivan. An interesting question, and to get an answer to that, Michael Teys from BlockStrata.com.au joins me.
\nMichael, an interesting question, isn\u2019t it?
\nMichael<\/b>:\u00a0 It is, Kevin. Look, this is a huge hurdle for people who are looking at buying electric cars where they live in apartments \u2013 getting the permission to hook up to the central power, and then the question arises how are they going to pay for that power.
\nKevin<\/b>:\u00a0 There has to be a fair solution to this. Has this arisen very often?
\nMichael<\/b>:\u00a0 Look, it\u2019s starting to. Of course, there are overseas experiences where this is more common. Some owners in Australia have tried to set up some programs where they have themselves estimated the usage and have then reimbursed the owners corporation for the power. But look, that gets messy where there are issues of trust and also when other owners want to join in. There\u2019s going to be more of this.
\nFortunately, there\u2019s some technology that\u2019s now available that allows an individual car space owner to install a monitor that works out how much power is taken from the complex\u2019s central power board, and then automatically reimburses the owners corporation for the power that\u2019s used. That\u2019s a real step forward for this concept.
\nKevin<\/b>:\u00a0 Who would be responsible for setting that up, Michael?
\nMichael<\/b>:\u00a0 The owner with the electric car is going to have to apply for permission to install both the hardware and the cables that are necessary to make this work, because that\u2019s still going to amount to an alteration or an addition to the common property that is held by the owners corporation.
\nBut I\u2019m expecting where the owners corporation gets reimbursement for these things, any group acting reasonably is going to approve the installation. But it is definitely for the car owner to get the approval before going ahead and doing the works.
\nKevin<\/b>:\u00a0 Michael, you mentioned that there is a solution. Is there a company we can turn to or get more information?
\nMichael<\/b>:\u00a0 There is, Kevin. There\u2019s a company called Jet Charge, which has the technology. Costs will be up to something like $3000. Look, this is something that people who are investing in this technology are probably going to be prepared to pay because of long-term savings that they\u2019ll get. Like any green initiative, there will be a payback period.
\nI would also anticipate that as new developments are bought online, there will be more of this and there will be charging stations installed on common property. The mechanism to reimburse the owners corporation will become a standard feature of buildings for the future. It\u2019s not at all beyond the possibility that we\u2019ll start to see development approval conditions imposed on developers for these sorts of initiatives.
\nKevin<\/b>:\u00a0 Ivan, just to repeat those details, you can get all the information you like at JetCharge.com.au.
\nIn addition to what you said there, Michael, Tim Washington from Jet Charge told me this morning that the cost could be as low as $1800. It ranges between $1800 and $3000. The cost variation is because of distance and difficulty.
\nGet a quote for yourself at JetCharge.com.au. We thank Tim and his team at Jet Charge for providing that information.
\nMichael Teys from BlockStrata.com.au. Thanks for your time, Michael. Thanks for looking into this for us, as well.
\nMichael<\/b>:\u00a0 No trouble. Thanks as always, Kevin. Bye-bye.
\n <\/p>\n

Jane Slack-Smith<\/h3>\n

Kevin:<\/b>\u00a0 Over the last few weeks, I\u2019ve been telling you about The Ultimate Guide to Renovation. By now, if you have hooked up onto that, you would have received the fourth video, which has just gone out. The host of that program is Jane Slack-Smith, who joins me once again.
\nHi, Jane.
\nJane:<\/b>\u00a0 Hi, Kevin.
\nKevin:<\/b>\u00a0 Let\u2019s talk a little bit more about The Ultimate Guide to Renovation. Already whet the appetite of so many people with those great videos. Where are we at in the program? Is it too late to get involved?
\nJane:<\/b>\u00a0 No, we do open enrollments for a week only, so they do close hard and fast this Thursday night. People can still get involved.
\nKevin:<\/b>\u00a0 Okay. Now, what is involved? What can we expect to find inside the program?
\nJane:<\/b>\u00a0 There\u2019s so much. In actual fact, it\u2019s a 12-week online course, so the first six weeks, we spend so much time actually going through locating the right area that\u2019s fit for your buying criteria and actually understanding what your buying criteria is with the view of renovating.
\nThen in the last six weeks, it\u2019s the fun bit. We get into structural renovations, we get into cosmetic renovations, we get into buy-and-hold strategies, buy-and-flip strategies. It\u2019s a lot of fun.
\nKevin:<\/b>\u00a0 One of the key things behind all of this, of course, is the ability to create some extra value through renovation, to add value to a property.
\nJane:<\/b>\u00a0 Absolutely. There are so many properties throughout Australia that are ripe for renovation, but making money from them is a completely different story \u2013 and that\u2019s what we concentrate on.
\nKevin:<\/b>\u00a0 On the website, you\u2019ll find a link, because I think there is one final webinar coming up.
\nJane:<\/b>\u00a0 The final webinar will actually be on the 17th<\/sup> at 8:00 p.m., where we\u2019re talking to people. We\u2019ll be going through a lot of information and talking about where to buy and what to buy when looking for renovating properties.
\nIt\u2019s going to be really exciting, because the thing is that most people can spend their time, effort and money in renovating in the wrong areas and not making money and not knowing where the right areas are in a property to make money from renovating.
\nKevin:<\/b>\u00a0 Give us a bit of a sneak peek about some of your tips about creating that value through renovation. Where do we go wrong, and where do we go right?
\nJane:<\/b>\u00a0 I think there are the things that we can really create the \u201cwow\u201d effect on, everything from starting from the street appeal, because we know that we\u2019re going to get a first impression and you can\u2019t change a first impression. We want to look at the street appeal, and we really want to nail that.
\nOnce the people open up the front door and walk in, the kitchen and the bathroom are where you can add the most value. It\u2019s all about perceived value, not actual cost. I think that\u2019s the real difference where people can actually make money with a renovation.
\nBut there have been some trends in the recent past where I think people have invested in renovating in things like the media room, the outdoor room, the butler\u2019s pantry. These things are trendy, they look great on TV, but the reality is unless you\u2019re renovating for your own home and taste or maybe renovating to flip a property to the owner-occupied market, these could actually be a big waste of money.
\nKevin:<\/b>\u00a0 That\u2019s tremendous advice. I haven\u2019t heard that from anyone before about those, but you\u2019re right about those trendy things. When you think of the media rooms, they\u2019re very personal. What about the key rooms, the kitchen and the bathroom; are they still the big \u201cwow\u201d areas, Jane?
\nJane:<\/b>\u00a0 Absolutely. You can get it so right and you can get it so wrong with the kitchen and bathroom. We\u2019ve had students go through the course in the past who said, \u201cWe\u2019ve done 11 renovations. We were just about to rip out the kitchen, but we got in and saw what you did with painting tiles or replacing the bench top, etc. For a fraction of the cost, we were able to transform the kitchen to make it look like it was a brand-new kitchen.\u201d It\u2019s around that aspect of actually making money from your renovation that we really concentrate on.
\nKevin:<\/b>\u00a0 If you want to get the inside run if you\u2019re looking at doing some renovation, I strongly recommend you look at The Ultimate Guide to Renovation. Once again, the webinar is coming up a little bit later this week, the 17th<\/sup> of March. Is that when the enrollments will close, as well?
\nJane:<\/b>\u00a0 Absolutely. A hard-and-fast close for at least another six months because we really want to jump in. There\u2019s the private Facebook group and we have our group mentoring calls, as well. We really want to get people into the course and actually get some value out of it rather than being just another course that people buy. We\u2019re really going to concentrate, especially in the next 12 weeks, in taking people through that entire course and getting some real value out of it for them.
\nKevin:<\/b>\u00a0 Look for the button on the homepage at RealEstateTalk.com.au. Click on there, get in for the webinar, and don\u2019t miss The Ultimate Guide to Renovation.
\nJane Slack-Smith, thank you so much for your time.
\nJane:<\/b>\u00a0 Thank you, Kevin.
\n <\/p>\n

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

Kevin:\u00a0 <\/b>Choosing to build wealth through residential real estate requires a significant investment. I don\u2019t have to tell you that I\u2019m sure. I\u2019m not only just talking about money, but commitment in time and emotional energy that\u2019s required, as well.
\nIn the beginning, you\u2019ll need to work hard to support the costs associated with property ownership, so it\u2019s understandable that many people suffer buyer\u2019s remorse after making such a monumental purchase. You\u2019re going to come across opposition from friends and family, no doubt, as well.
\nI thought it would be beneficial to go through the five questions that you need to ask yourself \u2013 and answer honestly \u2013 before making your next property purchase. These have been put together by an expert in that field, Michael Yardney<\/a>, who, no doubt, has had to come across these on many occasions.
\nGood morning, Michael.
\nMichael<\/b>:\u00a0 Good morning, Kevin.
\nKevin<\/b>:\u00a0 Would that be correct?
\nMichael<\/b>:\u00a0 Buyer\u2019s remorse is a normal human emotion, Kevin, and it happens when you spend a large sum of money. It could be when you buy a new set of clothes, a suit, or outfit for a female. It could be if it\u2019s a bigger purchase like a car.
\nEspecially with a property, you tend to go look on the Internet to see if a better one has come around. You think, \u201cHave I paid too much? Is the market going to turn?\u201d
\nYou\u2019re right, Kevin. I think it\u2019s worth preparing yourself for that, and you can do that partly by answering some questions to yourself to make sure you\u2019ve made the right decision.
\nKevin<\/b>:\u00a0 Yes. Most of these questions, which I\u2019ve had the privilege of having a look at, are all self-questioning. What\u2019s the first one, Michael?
\nMichael<\/b>:\u00a0 One of the big questions people ask is what\u2019s going to happen if the market falls? One day, it is going to slow down, and it may fall or stagnate for a period of time. You should already have gone into your purchase with that in your mind and being prepared.
\nSure, we\u2019ve enjoyed some good times in some of our big capital cities last year. This year, we know the market is going to slow down a bit. In due course, it will even correct in some locations. We know property values don\u2019t go up in a straight line.
\nHowever, if you buy the right property in the right location in one of our big capital cities and you bought it at the right value, it doesn\u2019t matter; it\u2019s unlikely the value of your property is going to crash because it will be underpinned by other owner-occupiers in that location buying similar properties, Kevin.
\nKevin<\/b>:\u00a0 The second question, Michael, is one we don\u2019t have much power over unless, of course, we choose to make sure that it\u2019s not going to impact us.
\nMichael<\/b>:\u00a0 Another worry people have is \u201cHow am I going to make my mortgage repayments if interest rates move up?\u201d Sure, interest rates are low at present, and they may even drop a little bit further this year, but in the medium term, as our economy picks up, it\u2019s likely interest rates are going to head north. So it\u2019s important to avoid becoming a statistic and getting caught out when that happens by planning ahead.
\nOne way of doing it is making sure that you can service your loans if interest rates do go up a little bit. Kevin, the other way, of course, is to lock in on one of those attractive fixed interest rates that are available at the moment.
\nKevin<\/b>:\u00a0 Yes. Question number three, Michael.
\nMichael<\/b>:\u00a0 \u201cWhat happens if my employment circumstances change?\u201d We know life is unpredictable, Kevin. Most of us are requiring our personal exertion income to support some of the negative cash flow shortfall. Are you in a steady job? Are you in the position that you could maybe earn some bonuses or see some more clients, patients, or customers to get some more money if you need it?
\nIf you\u2019re not in that position or if you don\u2019t have the stability of a steady job, another way to protect yourself is having sufficient buffers set aside \u2013 that rainy day back-up I like having in \u2013 maybe a loan of credit or an offset account.
\nAlso, protect yourself with things like income protection and life insurance because life has a funny way of getting at you, doesn\u2019t it, Kevin?
\nKevin<\/b>:\u00a0 It certainly does, mate. You mentioned there about \u201cWill my income be able to cover the repayments?\u201d It\u2019s likely that\u2019s not going to be the case, Michael?
\nMichael<\/b>:\u00a0 It is, even in today\u2019s lowish interest rate environment and especially if you\u2019re buying the sort of property that\u2019s going to have strong capital growth. I think one of the mistakes investors make is not fully understanding all their outgoings. They think they\u2019re going to get 3.5%, maybe 4% rental yield, but that\u2019s gross, and when you take into account agents management commissions and rates and taxes and all the other things, in fact, the return is much, much less than that.
\nFirst of all, analyze your property\u2019s cash flow to make sure you can support it, and then check your own household budget to make sure that you have the surplus for it. Don\u2019t count on the negative gearing because it may or may not change. It\u2019s just that that\u2019s cream, so don\u2019t count on the bonus from that, even though I don\u2019t think the laws are going to change. Maybe you make sure you borrow enough by having that cash flow buffer we spoke about a while ago just to buy you some time to see you through the ups and downs in property, Kevin.
\nKevin<\/b>:\u00a0 Yes, mate. The final question puts an interesting twist on a comment that I\u2019ve heard many times and that is that you\u2019ll make money out of real estate when you buy. In other words, that\u2019s indicating that you have to buy below market.
\nMichael<\/b>:\u00a0 That\u2019s one of the big concerns of buyer\u2019s remorse. \u201cHave I paid too much?\u201d That\u2019s, again, a normal human reaction. The only way you can prevent that level of buyer\u2019s remorse is by having done your homework, having done your due diligence, doing all the research, and knowing what\u2019s going on.
\nBut, Kevin, you already hinted at it. No. You don\u2019t make your money when you buy your property by buying cheaply; you make it by buying the right property. Lots of times, I\u2019ve paid full market price — or occasionally even above what I think it is the market price could be — just to secure the right property because you make your money by owning the right property in the right ownership structures at the right location at the right price for the long term.
\nDon\u2019t get upset if the market fluctuates up or down a little bit. You\u2019re going to minimize that if you\u2019ve done your research, done your homework, and made a fair offer. If you can\u2019t get it, just walk away. There will be another deal, Kevin.
\nKevin<\/b>:\u00a0 Yes. They\u2019re five great questions. Go back over them. Have a listen to the interview once again or even read the transcript, which we provide below this interview, as well. They\u2019re questions, Michael, that can act like barometers, can\u2019t they?
\nMichael<\/b>:\u00a0 Yes, they can. We talked about it today in the context of buyer\u2019s remorse, but really, it should have already all been answered before you even buy the property to make sure that you don\u2019t become one of the casualties that occur unfortunately so often when people buy emotionally rather than buying strategically.
\nKevin<\/b>:\u00a0 Always great talking to you. Michael Yardney<\/a> from Metropole Property Strategists<\/a>.
\nMichael, thanks for your time.
\nMichael<\/b>:\u00a0 My pleasure, Kevin.
\n <\/p>\n

Mark Stockwell<\/h3>\n

Kevin:<\/b>\u00a0 My next guest is Mark Stockwell. Mark is the managing director of Stockwell, a Queensland business based in Brisbane that focuses on property development, design, and construction, and also funds management. He is responsible for a number of great developments around South East Queensland.
\nMark, thank you for your time today on the show.
\nMark:<\/b>\u00a0 My pleasure. Good to be up early.
\nKevin:<\/b>\u00a0 Yes, indeed. It is good. It\u2019s a nice start for the weekend. Mark, I want to talk to you about your developments and what\u2019s coming through the pipeline, but just before we do, you come from an exceptionally competitive background. We\u2019ve talked about that on the show before. As an elite swimmer, you represented Australia at the \u201984 Olympics. Was that \u201984?
\nMark:<\/b>\u00a0 That\u2019s right. You\u2019re a sporting historian, as well.
\nKevin:<\/b>\u00a0 Yes, well, a good producer. Also the \u201986 Commonwealth Games. How has that prepared you for business?
\nMark:<\/b>\u00a0 I think, by far, my biggest influences were my father and mother; I grew up in a business family, but through sport, it opened a lot of doors. But the thing about doors opening, you have to be able to walk through them, know which ones to walk through, and when you get in there, to behave in a way that you can get the business done.
\nThose things about patience that you learn, being dedicated to an outcome, the extreme patience you have to have when you set your mind to say, \u201cIn four years\u2019 time, I\u2019m going to go to the Olympics; I want to be the best in the world,\u201d those sorts of things, you do take a lot of confidence into business, and you do take a lot of personal knowledge on how to cope with pressure situations, how to stay calm when the GFC is falling around you, because in competition, when you\u2019re standing up in front of 20,000 people and they\u2019re all cheering for the Americans or something, you have to be able to sit there and stay focused on what you\u2019re doing. Those sorts of things, I think, have really helped me a lot in business.
\nKevin:<\/b>\u00a0 You mentioned there about your parents. I believe they formed the company Stockwell Property Ltd. There must have been some great conversations around the kitchen table as you were growing up about what they were doing. Did that contribute to where you eventually went?
\nMark:<\/b>\u00a0 There were two things. One is I used to get dragged around construction sites with my old man. Then when he was busy, he used to throw me in with the supervisors, and they would drive me around in the utes, and I was on the two-way radio, thinking, \u201cHow special am I?\u201d
\nThe other thing was my mother was the company\u2019s secretary and involved in the business. Back then, in the \u201960s and \u201970s, there weren\u2019t too many women in high-profile positions, so she was a bit of a suffragette in her own way. As a result of Mum being involved in the business, it was always discussed around the kitchen table. Work and life have always been intermingled in the Stockwell household.
\nKevin:<\/b>\u00a0 Of course, your mom and dad were very successful with the business, as you have been, but you\u2019ve taken it into different directions, as well, like funds management and so on. How did you identify a hole in the market, and why did you diversify that way?
\nMark:<\/b>\u00a0 Into funds management?
\nKevin:<\/b>\u00a0 Yes.
\nMark:<\/b>\u00a0 The big thing for us has been looking at what are other income streams and other businesses that we can be involved in that use our core skills in building that business? So, it\u2019s not like we\u2019re out there in new areas. The funds management ticks both of those boxes in the sense that we use all our property knowledge, because at the end of the day, funds management, it\u2019s the property that draws in income. That was that.
\nWe saw the opportunity where interest rates were dropping. What we knew about interest rates dropping, we could lock in to long-term debt, five-year debt, and actually, as the interest rate becomes less and you gear it the right way, you can return a greater cash return to your investors.
\nSo the investors are sitting there saying, \u201cI want an 8% return,\u201d but you can actually go and gear an asset at a 55% loan-to-value ratio paying 4.5% interest, so you have a 3.5% margin that gives you the opportunity to play with. That\u2019s really the opportunity that we saw and jumped on that.
\nKevin:<\/b>\u00a0 Of course, there have been some big challenges in recent times. We\u2019ll cite APRA and its tightening of the investor market \u2013 that has to have some impact on your business \u2013 and now the discussion is around negative gearing. I guess they balance each other out a bit. What is your feeling on negative gearing?
\nMark:<\/b>\u00a0 My feeling is governments can\u2019t help themselves. Negative gearing and property investment is the cornerstone of an investment strategy for just about every Australian household. Once people and families own their own home, the next thing they\u2019re looking for is that investment asset. I think because people feel comfortable with residential, it\u2019s an obvious investment.
\nNegative gearing really does fire the whole economy. I sit there and I scratch my head, and I think construction and property is the one area that\u2019s actually working for this country at the moment. From a state point of view, the state government should be outraged about this because what\u2019s going to happen is it\u2019s going to have a direct impact on their stamp duty returns.
\nIf you talk to the Treasurer of Queensland at the moment, the thing that\u2019s holding up the budget for the Queensland government is stamp duty that\u2019s being driven out of residential development in and around the CBD of Brisbane.
\nYou have a situation where construction jobs and government revenues, particularly at the state level, are going to be impacted. That\u2019s going to help the federal government at their level, but at what cost? I think groups like the Property Council and businesses like mine, I sit there and go, \u201cThe one area that\u2019s working, why do you want to mess with it?\u201d I\u2019m not a big fan, Kevin, as you can tell.
\nKevin:<\/b>\u00a0 I can tell that, and that\u2019s echoed right around the country, I think. I\u2019ve had commentators tell me it\u2019s a bit like low-hanging fruit; it was one of those easy ones to pick on that\u2019s going to get you some votes. Maybe not. We\u2019ll have to watch that, anyway.
\nMark:<\/b>\u00a0 I just think there is a lot of middle Australia who actually own an investment property. At the moment, there are not too many properties that have to rely on negative gearing because interest rates are so low, but when that moves again, it creates that buffer for investors to cope with rising interest rates.
\nI think here, again, maybe part of it, what the government should be saying is, \u201cIn GST, instead of 15%, it should be 12%. Super, we should take a little bit there, and negative gearing, we can look at something there,\u201d but to go and hit one sector over another is not very wise, I don\u2019t think.
\nKevin:<\/b>\u00a0 Yes, because negative gearing doesn\u2019t just apply to property, of course. That\u2019s the one that they tend to pick on all the time. Negative gearing goes across quite a few investment asset categories.
\nMark:<\/b>\u00a0 Yes, that\u2019s true.
\nKevin:<\/b>\u00a0 Mark, great talking to you. Thanks for your time. Much appreciated.
\nMark:<\/b>\u00a0 Thanks, Kevin. Cheers, mate.
\n <\/p>\n

Simon Pressley<\/h3>\n

Kevin<\/b>:\u00a0 Well, everybody\u2019s talking about it, and to add his voice to the negative gearing debate, I\u2019m joined by Simon Pressley from Propertyology.
\nGood day, Simon.
\nSimon<\/b>:\u00a0 Good day, Kevin. Nice to talk to you again.
\nKevin<\/b>:\u00a0 Yeah, everyone is talking about this, aren\u2019t they? Negative gearing. Let\u2019s firstly talk about how negatively gearing affects all Australians \u2013 or doesn\u2019t affect them.
\nSimon<\/b>:\u00a0 Look, it\u2019s a tax policy, but it\u2019s very far-reaching. It\u2019s more than the investor with some benefit from negative gearing; it directly relates to housing supply.
\nTo use some official statistics, investors actually provide 27.1% of all properties to the public, and most of those investors are everyday Australians like you and I. Scrapping negative gearing is not just about the tax impact on individual investors; it\u2019s about where is the supply of all that rental accommodation that we\u2019re always going to need?
\nIt affects the construction industry. Most of the brand new product that the construction industry sells, whether it\u2019s a foreign investor or an Australian-based investor, relies on a certain number of investors buying that product. Of course, if there\u2019s going to be less buyers, there\u2019s going to be less built, which then will mean construction jobs lost.
\nThe other area \u2013 and I think most important area, Kevin \u2013 is our welfare system. It\u2019s not that long ago that a former Treasurer by the name of Joe Hockey said that our welfare bill is growing by $400 million per day. The biggest component of our welfare bill is, of course, the age pension. To do something to reduce Australia\u2019s taxpayer money going into age pensions, we probably need to encourage people to invest more, I would suggest.
\nKevin<\/b>:\u00a0 Yes. Simon, you\u2019re on record as saying that you don\u2019t really care whether negative gearing is in or out. Why is that?
\nSimon<\/b>:\u00a0 That would probably surprise a lot of people coming from someone who is a professional investor and who has a business where all we do is help investors.
\nI don\u2019t think the policy should be tinkered with at all, mind you, but why I\u2019m not worried about it in regards to the impact I think it will have on values of properties in my portfolio or my rental returns or anything like that is it\u2019s impossible to say, \u201cIt will go this way, up or down,\u201d because there\u2019s a lot more than tax policies that affect property markets, of course.
\nBut it\u2019s more likely that there could actually be a boom created by this. There could be a period of time where people go, \u201cI have to quickly by those established properties before they change the rules,\u201d and that could create a tsunami of buyers flocking to a market.
\nCertainly, I feel very confident that rents will push up. It\u2019s basic commonsense. If anything is done to discourage investors, then there\u2019s going to be less stock for the rental pool, so that has to go one way \u2013 rents up.
\nKevin<\/b>:\u00a0 That\u2019s right. It is going to impact supply; there\u2019s no question of that. It\u2019s all about supply and demand. Is, therefore, scrapping negative gearing not necessarily a good thing for the country? What are some of the unintended consequences?
\nSimon<\/b>:\u00a0 Well, the unintended consequences are those things that I referred to earlier. I don\u2019t think these policies have been thought through. Greater reliance on tax payer dollars going towards welfare. We\u2019ve got millions of people exiting the workforce. The baby boomer generation over the next 15 years are exiting the workforce.
\nUnfortunately, for those people, there\u2019s probably not much time left in their working life to do much about it, but the generations prior to that have got plenty of time.
\nSo if we\u2019re taking away incentives for people to take to invest and take control of their financial future, then when they reach the equivalent of the baby boomer age, there\u2019s going to be more of those people on age pensions. That will be an unintended consequence. What you might take away from tax refunds today, you\u2019re going to be finding extra money to fund pensions in years to come.
\nIt\u2019s not going to be a good thing for the construction industry \u2013 anyone who is a developer. The Property Council have come out loud and strong saying, \u201cDon\u2019t touch this. You\u2019re going to affect our jobs,\u201d and this country needs more jobs, not less jobs.
\nKevin<\/b>:\u00a0 Simon, let me play devil\u2019s advocate for a moment. In the event that they were to scrap negative gearing, that would logically take a lot of the investors out of the market. Doesn\u2019t that then lower the competition for first-home buyers, and therefore, lower the prices?
\nSimon<\/b>:\u00a0 I don\u2019t actually subscribe that that\u2019s what will happen. I think there\u2019s always going to be a percentage of the population who do not want to one day at age 60 or 65 fund their lifestyle off of whatever they can do with a government-funded pension. There\u2019s always going to be the motivated Australian who says, \u201cI want to do better than that,\u201d and of course, the only way to do that is to invest, so they\u2019re always going to do that.
\nMost investors don\u2019t actually invest with the primary reason being a tax incentive; they invest with the \u201cI don\u2019t like what my life will look like in 15, 20 years\u2019 time.\u201d If they\u2019re going to do that and there\u2019s a legal tax benefit they can claim along the way, they will do it. But that\u2019s the order that investors make decisions, so we\u2019re always going to invest.
\nOn the supply side of things, if they scrap negative gearing, I think it\u2019s going to diminish supply. Even if there was lower buyer activity, there definitely will be less supply, and those two dynamics, I think, will keep forcing prices up.
\nKevin<\/b>:\u00a0 Always good talking to you. Simon Pressley from Propertyology. Thanks for your time, mate.
\nSimon<\/b>:\u00a0 Thanks, Kevin.
\n <\/p>\n

Darren Palmer and Graham Ross<\/h3>\n

Kevin:<\/b>\u00a0 My next guest is Darren Palmer. Darren, of course, interior designer, author, and much-loved judge and mentor on Channel 9\u2019s The Block<\/i>.
\nGood day, Darren. Nice to have you on the show.
\nDarren:<\/b>\u00a0 Nice to be back.
\nKevin:<\/b>\u00a0 We see spectacular rooms on shows like The Block<\/i> and magazines like House & Garden<\/i>. Are they all that easy to create or replicate, given the guidance you can get in a book like Easy Luxury<\/i>?
\nDarren:<\/b>\u00a0 If it was easy, everyone would do it
\nKevin:<\/b>\u00a0 That\u2019s true.
\nDarren:<\/b>\u00a0 It is hard. It\u2019s a real skill, and it takes years to hone. What people are able to achieve on The Block<\/i> is truly mind-blowing especially considering, generally speaking, they are everyday people who don\u2019t have any experience in renovation or design. With that in mind, it\u2019s spectacular.
\nBut if you look at what gets done in magazines by professionals and the amount of layering and detail and the principles behind things, yes, you can study all that stuff and you can learn it, but it really takes practice to master something like that.
\nThere\u2019s this anecdote of someone coming across Pablo Picasso on a riverbank and saying to him, \u201cCan you sketch me?\u201d In 15 minutes, he did a quick sketch, and it was a Pablo Picasso original. He said, \u201cThat will be \u20ac8000,\u201d or whatever. The person said, \u201cReally? That only took you 15 minutes.\u201d \u201cNo, it took me my whole life.\u201d
\nKevin:<\/b>\u00a0 Great story and very true. Darren, thanks for your time. All the best. I look forward to seeing you again on The Block<\/i> real soon.
\nDarren:<\/b>\u00a0 Thanks so much, Kevin.
\nKevin:<\/b>\u00a0 Another famous name, another famous face, Graham Ross from Better Homes & Gardens<\/i> joins us.
\nGraham, thanks for your time.
\nGraham:<\/b>\u00a0 My pleasure, Kevin? Are you well?
\nKevin:<\/b>\u00a0 I\u2019m very well. Thank you.
\nGraham:<\/b>\u00a0 Good, mate.
\nKevin:<\/b>\u00a0 What sort of impact, in your experience, does a nice garden or a very well-maintained lawn have on the price of a property if it\u2019s being sold?
\nGraham:<\/b>\u00a0 Well, it\u2019s street appeal, street appeal, and street appeal. The whole objective, Kevin, is to get people out of the car. The real estate agent has either sent them, or they\u2019re in his car driving to XYZ and he has to get them out of the car. Street appeal is really where it\u2019s at. Don\u2019t go over the top. Don\u2019t make it look like it\u2019s a botanical garden that people are going to have to spend months and months looking after.
\nKevin:<\/b>\u00a0 One of the great things about living in Australia, Graham, is that we have this opportunity to have a great outdoor lifestyle. That affords some great opportunities, and I\u2019ve seen you do this on Better Homes & Gardens, create some of those outdoor rooms.
\nGraham:<\/b>\u00a0 It\u2019s a great idea. Again, the sound of water, the look of water, if you can go to the local garden center, the local nursery or the hardware store and buy just a simple\u2026 You think, \u201cI\u2019m not going to spend $400 on it,\u201d but if it looks $1000 and the image and the feel as they come through the house and look out onto the back, there\u2019s a bit of splash, there\u2019s a bit of water, there\u2019s a bit of a tinkling of the water, that\u2019s another real bonus.
\nYou have them out of the car, through the front garden, into the house. The house and the setup of the furniture and the smell and aroma of cooking and all those sorts of things that interior decorators are professional at, but when you start going through to the back, sometimes they\u2019re just backyards. While the old backyard was a very popular place to play cricket, in the 21st<\/sup> century, it\u2019s an entertainment space, it\u2019s another extension of the room of the house.
\nIn the houses that we\u2019ve landscaped over the years and done a little bit of work in the backyard and in the front yard that we might have spent $10,000 or $15,000 on \u2013 that sounds a lot \u2013 you can get a 30% to 40% increase. We\u2019ve been able to say that time and time again that you spend that bit of time outside as well as indoors.
\nKevin:<\/b>\u00a0 Great advice, Graham. All the best with your show. I love your show, too, mate. It\u2019s going very well for you.
\nGraham:<\/b>\u00a0 Thank you, pal. It\u2019s my 21st<\/sup> year with Better Homes<\/i>. Last Friday night was my 856th<\/sup> episode. I don\u2019t know who\u2019s counting but someone told me that during the week.
\nKevin:<\/b>\u00a0 You\u2019re not that old. Come on.
\nGraham:<\/b>\u00a0 It makes me feel a bit old, but it\u2019s been great and it\u2019s a great show to be part of this year.
\nKevin:<\/b>\u00a0 It\u2019s great having you on the team too, Graham. Thank you so much for your time.
\nGraham:<\/b>\u00a0 Cheers, mate. All the best.<\/p>\n","protected":false},"excerpt":{"rendered":"

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