{"id":8320,"date":"2016-06-23T10:00:36","date_gmt":"2016-06-23T00:00:36","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=8320"},"modified":"2016-06-23T10:00:36","modified_gmt":"2016-06-23T00:00:36","slug":"why-half-of-all-investors-sell-up-in-under-5-years-abolish-stamp-duty","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/why-half-of-all-investors-sell-up-in-under-5-years-abolish-stamp-duty\/","title":{"rendered":"Why half of all investors sell up in under 5 years + Abolish stamp duty"},"content":{"rendered":"

 
\nFifty percent of those who buy an investment property sell up in the first 5 years. Put another way – most Australians who get into property investment never achieve the financial freedom they aspire to, and worse still many property investors lose a heap of money and lost opportunities along the way.\u00a0Michael Yardney<\/strong><\/a> shares some thoughts on how not to fall into that category.
\nNhan Nguyen<\/strong> has some advice for those wanting to get into small developments. How to find the sites and carry out the feasibility and more importantly, how to minimise your risk.
\nDesign guru and star of Selling Houses Australia, Shaynna Blaze<\/strong> returns to share some thoughts on her business and we get to see another side of Shaynna.
\nThe Mortgage Choice Annual Investor Survey has found that investors are being affected by lending restrictions introduced by the banks. What sort of restrictions have the banks had to make and how does this affect borrowers?\u00a0 John Flavell<\/strong>, Mortgage Choice Chief Executive joins us to outline what is happening.
\nThe Real Estate Institute of New South Wales has called for an end to stamp duty, but how realistic is that? Institute president John Cunningham<\/strong> has called the tax unjust, inefficient and market distorting and he joins us to look at the alternatives.
\n <\/p>\n

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

John Cunningham –\u00a0Stamp Duty should be abolished<\/h2>\n

Kevin:<\/b>\u00a0 Stamp duty is one of those conversations that comes up all the time when we talk about affordability, and the different regimes for stamp duty around Australia are really quite amazing when you do look into it.
\nRecently, the president of the Real Estate Institute in New South Wales, John Cunningham \u2013 who is my next guest \u2013 made the statement that he believes Stamp duty should be abolished around Australia. It\u2019s probably not going to happen, but I\u2019m interested to get your view on that.
\nJohn, good morning, and thanks for your time.
\nJohn:<\/b>\u00a0 Good morning, Kevin.
\nKevin:<\/b>\u00a0 You\u2019re probably a bit surprised to see just how different the stamp duty levels are around Australia state by state.
\nJohn:<\/b>\u00a0 It\u2019s absolutely extraordinary, and I think one of the issues we have in Australia is that there are no level playing field on much of the legislation or taxation, particularly where it\u2019s levied from the states. Therefore, it\u2019s pretty confusing.
\nKevin:<\/b>\u00a0 It\u2019s interesting, too, to note that stamp duty is being called a wealth tax, but it\u2019s one of those taxes that is levied against anyone, even first-home buyers. If you\u2019re looking for ways to make it affordable, that would be a good place to start, I would have thought.
\nJohn:<\/b>\u00a0 Absolutely. There are two measures of stamp duty that are quite critical. Obviously, the higher you go in price \u2013 which is into the wealth area \u2013 the more tax you pay. This is an interesting concept that a lot of people don\u2019t realize. In New South Wales alone, the median house price now means that you\u2019re paying something like 4% average of the purchase price. So if you\u2019re going to save 20% as a first-home buyer, you\u2019d have to <\/b>stump up another close to 4% to actually secure the property. It\u2019s a massive inhibitor, particularly for that first-home buyer.
\nIn New South Wales and in many states, there is only relief for new dwellings, and as you and I both know, 95% of first-home buyers actually buy established housing, so there are not a lot of advantages there.
\nKevin:<\/b>\u00a0 Speaking about first-home buyers, it would be a great way to give them some leverage into the market if they abolish it for first-home buyers, but it raises the other question, too, of what we\u2019re now seeing as \u201crentvestors\u201d \u2013 these are people who will rent but go in and buy an investment property as their first property purchase.
\nI think it was Mortgage Choice said that about 36.6% of first-home buyers are actually investors, so it really makes it difficult to say, \u201cWell, let\u2019s abolish it just for first-home buyers\u201d for that reason, John.
\nJohn:<\/b>\u00a0 That\u2019s a really tricky one. That\u2019s how both of my daughters bought their first properties. They were living at home, they bought as an investment property to move into when they could afford to do that, and I encourage that. But then you\u2019ve got to ask the question, \u201cAre they first-home buyers? Are they investors?\u201d I think we\u2019re taking probably too narrow a view on how that\u2019s applied and, as I say, in many states if you\u2019re buying established housing there is no relief anyway.
\nI think that the whole tax debate at the moment is being looked at in so many little piecemeal sectors instead of taking a complete view, as the Henry Review did, to look at taxation as a whole. In that Henry Review, he quite clearly stated that you cannot break these tax reforms down into little segments; you have to take an overall picture.
\nAnd at the moment, many states are talking about adding stamp duty for foreign investors, and as some states \u2013 like Victoria \u2013that have already applied that, then you say, \u201cWell, there\u2019s another little piecemeal.\u201d You look at the negative gearing issue, and it\u2019s another that only applies to new dwellings \u2013 another piecemeal approach instead of getting to the nitty gritty of the whole situation.
\nUnfortunately, I think most people in the property industry are of the view that the GST was introduced to abolish these state taxes but no one has had the guts to actually implement the right GST reforms to make that happen. It doesn\u2019t appear that it\u2019s politically favorable to go that way, but at the end of the day, it\u2019s probably one of the most equitable taxes there is.
\nKevin:<\/b>\u00a0 A property tax is only one part of that whole scheme, which is what you\u2019re pointing out there \u2013 that taxation covers lots and lots of issues. It\u2019s almost like a bit of a Band-Aid; you put a Band-Aid on here, another one there, but you\u2019re creating more layers of problems that some say have got to be unfolded.
\nIt would take a very courageous government, I would have thought, to actually put the entire tax system on the table and pull it to bits.
\nJohn:<\/b>\u00a0 Yes, it\u2019s interesting. If you go back to the GST when John Hewson tried to introduce it and it was absolutely smashed by the opposition. When it finally came in, it was only a short period of time \u2013 remember that in 2000, there was a little hiccup for about six months, \u201cOh, my god; the GST is here\u201d \u2013 and then it was business as usual.
\nI think there is so much hype around this sort of reform that politicians play the game, and we\u2019re living in an environment where when you think about the federal term of parliament being three years, they can\u2019t get anything done. It\u2019s just politics for the first year, politics for the last year, and maybe a bit of progress for the middle. I think we\u2019re ultimately never going to get anywhere on these sort of things unless, you\u2019re right, someone actually has the guts to do it.
\nKevin:<\/b>\u00a0 Yes, good luck with that one.
\nWhat is the bottom line, John? What do you think are the alternatives? If the government said to you, \u201cJohn, what should we do?\u201d What would you say?
\nJohn:<\/b>\u00a0 In our tax policy, we\u2019ve put forward a proposal, and as you said Kevin at the beginning, the reality of saying good-bye to stamp duty is just not here in this environment. We\u2019ve suggested that we need stimulation in our marketplace to get certain supply chains moving
\nAn economy is driven by activity, so in certain states, and particularly New South Wales and Victoria to a certain extent and certain parts of Brisbane, you\u2019ve seen the clogs in the supply chain where people aren\u2019t moving. The cost of moving is prohibitive. They\u2019re reluctant to move from an area they like because they just can\u2019t find a home they want.
\nThat often happens right at the top end of the food chain where the retiree \u2013 the Baby Boomer now \u2013 is staying put in their home because they don\u2019t want to pay all of that money out in stamp duty. And then the first-home buyer has to actually find that extra 3% to 4% to buy a property.
\nWe believe that one of the solutions is to actually free up the first and the end. If you give some concession\u2026 And we\u2019ve suggested one of the possibilities is to give a 50% reduction across the board to first-home buyers up to a certain level \u2013 and that might vary from state to state \u2013 and also apply the same rule to the over 65s, that they are given actually one opportunity, one purchase, where their stamp duty is reduced by 50%.
\nBecause they don\u2019t appear to be wanting to change the threshold, which is the worst bracket-creep example you\u2019ve ever seen \u2013 no change in 30 years in New South Wales. I\u2019m not sure what it\u2019s like in Queensland, but we\u2019ve gone from 2% average to 4% average. We need to actually do something, because government is so reliant upon stamp duty revenue that they are reluctant to do anything, but once you get activity, you then can make up the difference.
\nKevin:<\/b>\u00a0 John Cunningham, president of the Real Estate Institute of New South Wales. Thank you for joining us today on the show, John.
\nJohn:<\/b>\u00a0 Thanks, Kevin.
\n <\/p>\n

Michael Yardney<\/a> –\u00a0Why property investors fail Part 1<\/h2>\n

Kevin:<\/b>\u00a0 I sometimes wonder, what are the common investor concerns? What are the concerns that most investors have about the market and investing in property? So I asked Michael Yardney<\/a> whether he could think back and talk to his team about what they see as those common investor concerns. What\u2019s coming up time and time again?
\nGood day, Michael.
\nMichael:<\/b>\u00a0 Hello Kevin.
\nKevin:<\/b>\u00a0 How did you go with the team? Did you put it together?
\nMichael:<\/b>\u00a0 Yes, I did. Interestingly there were common concerns that when people came to us and said, \u201cLook, I want to get involved in property,\u201d common concerns they had, reasons why they hadn\u2019t achieved the financial freedom that they wanted or gotten to where they had hoped to get to, considering that in our markets recently, property values have risen considerably, Kevin.
\nKevin:<\/b>\u00a0 I imagine there would be a bit of duplication in some of those, too, where they cross over lines. But you\u2019ve actually been able to identify 11 core concerns; is that right?
\nMichael:<\/b>\u00a0 Eleven common complaints people come and say, \u201cGee, I wish I knew that before.\u201d
\nKevin:<\/b> Okay, let\u2019s deal with them. We\u2019ll deal with all 11 today in the show and we\u2019ll break it into two parts, Michael. So let\u2019s deal with the first five or six.
\nWhat was the first one?
\nMichael:<\/b>\u00a0 Kevin, the first one was that they feel they\u2019ve missed the recent property boom while they\u2019ve seen others have managed to grow their property portfolio. In general, it was because of poor property selection. They owned the wrong properties. They didn\u2019t get the sufficient capital growth.
\nSome bought off the plan and overpaid for their property; others bought in regional Australia where property values didn\u2019t increase much \u2013 not as much as in the Big Smoke. I know there are some experts who recommended investing in regional Australia, but I\u2019ve avoided those locations because we had more jobs growth, more employment, and more wages growth in the capital cities where there was a shortage of land, and that caused population growth and capital growth in property values.
\nKevin:<\/b>\u00a0 Great. What was the second one, Michael?
\nMichael:<\/b>\u00a0 Many had concerns because they had difficulty holding onto their properties because they hadn\u2019t organized their finance correctly, didn\u2019t have a cash flow buffer in place, many of them because they were hoping to get a level of negative gearing but they couldn\u2019t cover the shortfall.
\nA lesson from this is get your finances set up correctly. Cash flow is important, even if you\u2019re investing for capital growth because cash flow keeps the wolves away from the door and keeps the banks happy.
\nKevin:<\/b>\u00a0 And line of credit, Michael?
\nMichael:<\/b>\u00a0 Either a line of credit or an offset account. You really need to have some sort of financial rainy-day buffer, not just for a shortfall in your mortgages but also for all of those little things that go wrong and the unexpected expenses you have, Kevin.
\nKevin:<\/b>\u00a0 Yes. These are not necessarily in any order, Michael, are they? These are just the concerns as you see them.
\nMichael:<\/b>\u00a0 No, they\u2019re not. But interestingly, I think that the first two I mentioned \u2013 the poor property selection and the poor cash flow management \u2013 are really still among the most common issues that investors who haven\u2019t done well have.
\nKevin:<\/b>\u00a0 And the third one for us?
\nMichael:<\/b>\u00a0 A lot of them were concerned that maybe they bought the property in the wrong structure, they bought it in their own name, or maybe they should have bought it in a family trust or their self-managed super fund.
\nIt\u2019s important to begin with the end in mind. Therefore, if you are planning that in 10 or 15 years\u2019 time when you retire you\u2019re going to have a substantial portfolio, work back from then and understand what you would like it to look like then more than what it is that you need today because it\u2019s too hard to change ownership structures down the track.
\nAnd that really involves sitting down with a property strategist and an accountant who can give you correct advice, Kevin.
\nKevin:<\/b>\u00a0 Yes, get the right people on your team.
\nWhat was the fourth one, Michael?
\nMichael:<\/b>\u00a0 I found that people were concerned that they\u2019d left their investment run too late. They were now approaching retirement age and suddenly they realized that they hadn\u2019t built enough of a nest egg. The worrying reality is that for most Australian Baby Boomers, they believe they are going to run out of money and need the pension or need to be dependent upon the government, and we\u2019re not sure that the pension is going to be there in the future.
\nClearly, superannuation isn\u2019t going to be enough for most Australians because most Baby Boomers nearing retirement didn\u2019t have compulsory superannuation when they were young. So the concern really is \u201cGee, have I got enough time to still build a good enough cash machine?\u201d
\nKevin:<\/b>\u00a0 Of course, many people sat on the sidelines, didn\u2019t they? Does that lead us into the fifth one?
\nMichael:<\/b>\u00a0 Life got in the way for a lot of people. They had their family, they had their kids, and they just didn\u2019t think of investing.
\nThe other one considers \u201cHave I missed the boat?\u201d They weren\u2019t sure whether it was too late now considering that we\u2019re at a more mature stage of the property cycle. I found that many investors didn\u2019t invest because of information overload. Some were stuck with what we call analysis paralysis. They just didn\u2019t know where to start or which way to go.
\nI guess my advice for those investors would be not to try too hard to time the property markets. Also remember that Australia is not just one property market; each state is at its own stage in its own property cycle. Sure, it\u2019s a bit hard to work out where we are in the cycle with all the messages there, and again, that\u2019s probably a good reason to get some good advisors on your side who have some \u201con the ground\u201d knowledge in those property markets, Kevin.
\nKevin:<\/b>\u00a0 Michael, I think before we take a break, we have time for just one more, if we could.
\nMichael:<\/b>\u00a0 A very common complaint we\u2019re seeing is investors who have bought off the plan. This has caused concerns now because when they are coming to settle, sometimes they don\u2019t have enough finance \u2013 the banks aren\u2019t lending as much; they were hoping not to put any more down thinking that the value of their property would increase but it hasn\u2019t. Others are finding that the properties aren\u2019t valuing up for what their contract price was. Others were lured by various incentives.
\nIn general, they would have been much better off buying an established property than a new or off the plan one, Kevin.
\nKevin:<\/b>\u00a0 Michael, that is six you\u2019ve given us now. We have another five to go. We\u2019ll come back later in the show and have a look at those with Michael Yardney.
\nThanks, Michael. We\u2019ll catch you later in the show.
\nMichael:<\/b>\u00a0 Great. Look forward to it, Kevin.
\n <\/p>\n

John Flavell –\u00a0Lender restrictions hold the market back<\/h2>\n

Kevin:<\/b>\u00a0 Over the last 16 months, most of Australia\u2019s lenders have been forced to tweak their policy and pricing in order to stem their level of investment lending growth. Let\u2019s get a bit of an insight on this. Mortgage Choice chief executive John Flavell joins me.
\nJohn, thank you for your time.
\nJohn:<\/b>\u00a0 Thank you very much for having me.
\nKevin:<\/b>\u00a0 There is a changing landscape, isn\u2019t there? But even in recent times we have heard that some of the lending criteria may actually just be being loosened again, John. Is that correct?
\nJohn:<\/b>\u00a0 I think our markets find their own level after a while, don\u2019t they? We saw quite a lot of change starting with the September\/October period last year in relation to policy and pricing, specifically regarding investment lending on the back of the Prudential Regulator\u2019s desire and direction to our lending institutions to cap the growth on investment lending to no more than 10% annually.
\nKevin:<\/b>\u00a0 The Mortgage Choice Annual Investor Survey found that investors are being affected by lending restrictions introduced by the banks. Tell us about those restrictions. How strong are they?
\nJohn:<\/b>\u00a0 Sure. As I said, the intention from the regulator was to cap the growth in investment lending to 10%, and in order to limit that, you saw a number of changes from a policy front and also from the pricing front. Both of those things actually have an impact of subduing demand and also restricting supply.
\nFrom a pricing perspective, you see differences in pricing for investment lending compared to owner-occupied \u2013 it may be 0.8% or 0.9% \u2013 and then from a policy perspective, a lot of lenders turned around and capped the loan-to-valuation ratios on investment lending and may have made adjustments in terms of concessions for proportion of rental income that can be contributed to debt servicing. Then they may have precluded lenders from certain geographies or lending in certain geographies, and all of those things have changed the shape of the market a little bit.
\nKevin:<\/b>\u00a0 Of course, all of this is on the back of people wanting to make housing more affordable. Do you think it\u2019s really having that impact?
\nJohn:<\/b>\u00a0 It\u2019s an interesting thing because I suppose at the end of the day, when I went to school, the worth of an asset was always determined by supply and demand, and in the instance of housing, then housing affordability is also determined by the cost of credit and the access to credit. You don\u2019t really change the overall demand, but what you end up doing is changing the shape of the market.
\nWhat we\u2019ve found is that those investors who have been pushed out of the market are the ones who are actually the would-be first-home buyers who are looking to use an investment property as a leg up into the market.
\nMiddle age, middle class Australia who have equity in their home who are typically paying higher rates of tax, then these sorts of changes haven\u2019t taken them out of the investment market, but the younger people who are saying, \u201cLook, I can\u2019t quite afford to buy my first owner-occupied place, but I\u2019ll get in an investment property and leg myself into the market,\u201d they\u2019re the ones who are being pushed out of the market, so it\u2019s a real challenge.
\nIf you\u2019re saying that the object of the exercise in some parts is to actually increase housing affordability or access to housing, then the people who you want to encourage and give a leg up to the most are the ones who are being pushed out.
\nKevin:<\/b>\u00a0 As we head towards a Federal election, typically at this time we tend to see the market slow down. But that certainly is not what we are seeing. Let\u2019s have a look at Brisbane, as an example, where we\u2019re seeing a lot of investors now flocking back into the market. How much of that has to do with trying to get in just in case Labor win the next election and play around with negative gearing?
\nJohn:<\/b>\u00a0 It\u2019s a great question. You\u2019re always going to have an impact on the market when you talk about legislative changes. There will be those people who, as you\u2019ve said, are saying, \u201cGoodness. In advance of the change, I\u2019ll make my move now,\u201d and they might accelerate activity. There will be people who are possibly contemplating selling investment properties who are saying, \u201cGeez, if I sell this investment property, my ability to get these sorts of concessions under a Labor government might not be there in the future, so I won\u2019t sell.\u201d
\nIt distorts markets. Even talk of legislative changes \u2013 to your point \u2013 distorts markets. There probably is a good portion of acceleration in the market at the moment in anticipation or in the off-chance that there might be some changes, and that\u2019s not unique to this market.
\nIf you look at the buy-to-let market in the United Kingdom in particular, where there is a raft of legislative changes coming in to restrict the tax concessions to investors, what that has done over there is effectively stalled the market. People are not selling property at all. It\u2019s actually driven prices up, and it\u2019s also driven rents up, as well.
\nSo you have to be very careful about what you even utter, let alone what you do, because it does have an impact and it does distort markets.
\nKevin:<\/b>\u00a0 We\u2019re certainly seeing that right now. I guess the politicians will never learn those kinds of lessons. They tend to play around the edges.
\nLet\u2019s talk about interest rates. Where do you see them going? There is talk that there may even be another drop in the next 12 months. Do you subscribe to that?
\nJohn:<\/b>\u00a0 If you take the widest and best-considered view of the market, then you look at the forward rates, and if you have a look at the forward rates, then the market is actually pricing in another cut in the cash rate over the next 6 to 12 months. It\u2019s in the forward rates there.
\nIf you ask yourself the question, \u201cWhere does this go in the next 12, 24, and 36 months?\u201d then things that are happening globally have an impact on that. In the US just last week, Yellen made comments to the effect that the Fed was contemplating actually upping rates again and that they were probably going to consider doing so moderately. The last time she said that, of course, that led to a real sell-off in the equities markets.
\nThe markets globally are very, very, very, very, sensitive. But if you looked at this next 12 months or 24 months, the market is pricing in another cut to the cash rate over 12 months. And if you look further out, the market is actually expecting the cash rate, within Australia certainly, to stay at these lower levels. There is not a pricing in there with an expectation of a rate increase in the next 12 or 24 months.
\nKevin:<\/b>\u00a0 It\u2019s always great talking to you, John. Thank you very much for your time.
\nJohn Flavell, Mortgage Choice chief executive. Thanks for your time, John.
\nJohn:<\/b>\u00a0 Thank you for having me. Bye-bye.
\n <\/p>\n

Nhan Nguyen –\u00a0So you want to become a small developer<\/h2>\n

Kevin<\/b>:\u00a0 In the latest edition of Profitable Small Development<\/i>, the newsletter produced by Australian Property Investor <\/i>magazine, it focuses very much on small development. These are investors moving into small development. Nhan Nguyen from Advance Property Strategies is quoted quite a lot in that particular article, and he joins me as our special guest.
\nNhan, thanks for your time.
\nNhan<\/b>:\u00a0 My pleasure, Kevin. Thanks for having me.
\nKevin<\/b>:\u00a0 What would you determine as a small development? What size?
\nNhan<\/b>:\u00a0 Small developments generally start as one into two, and then you can go into threes and fives and eights and tens. I think any more than ten, you start going to the next tier up, which would be small-to-medium. Then when you\u2019re hitting 100, you\u2019re probably big boys then and probably need a fair bit of capital.
\nKevin<\/b>:\u00a0 What\u2019s driving property investors into small development?
\nNhan<\/b>:\u00a0 Look, I think they see that the market is buoyant in certain areas, especially Southeast Queensland. You have Logan; you have Ipswich where markets have the opportunity where you can do granny flats at the back or secondary dwellings. People are jumping on the bandwagon
\nBanks are happy to fund certain small projects, generally one into two or one into three at the same loan-to-value ratios as a small investment property, so people are finding it easier to get into up to around about the three dwelling mark. When you get bigger than three, generally, the banks change their rules and you go into commercial and it gets a bit more difficult and more capital is required in pre-sales and things like that.
\nKevin<\/b>:\u00a0 I guess we\u2019re talking here about investors who have maybe traditionally gone out and bought a property and either held it as it is or do a small reno on it, maybe flip it over, but they\u2019re building their wealth and their portfolio as they go along.
\nYou and I have talked about splitter blocks in the past. Is this a step for someone who wants to move into development?
\nNhan<\/b>:\u00a0 Yes, I think splitter blocks are a really great entry-level way to get into small developments because it is quite straightforward in many aspects. There can be some complex aspects if the house needs to be removed and you can\u2019t, or the block is what we call a widow block, which is two triangles as opposed to two rectangles.
\nBut generically speaking, 80%, 90% of the time, splitter blocks are very, very easy to do. You don\u2019t need to lift a paintbrush, and most of the things that I like about splitter blocks are I can\u2019t do them myself, so it means I definitely have to leverage my time and get other people who are qualified, like people with demolition tickets, people who are plumbers with those certificates, and engineers.
\nIt\u2019s a highly leveraged form of development, which is very, very quick. You just basically knock down the house, install the services, and you can get in and out in 8 to 12 weeks if you\u2019re organized.
\nKevin<\/b>:\u00a0 Widow blocks: you mentioned those that go triangular, so the lot divisions turns it into two triangles as you described. That requires a re-alignment of the boundary, doesn\u2019t it? Is that a difficult project to undertake?
\nNhan<\/b>:\u00a0 Look. If you\u2019re looking at the standard 20-by-40, where the line of demarcation might be from one corner to the other diagonal corner to create those triangles, the re-configuration of lots is generally a standard procedure and can be done quite quickly in less than two to eight weeks — maybe even 12 weeks depending on other constraints of the site. It can be done quite quickly and quite cheaply. When I say cheaply, I\u2019m talking about $3000 to $5000 if you\u2019re getting surveyors or engineers in to be able to re-configure the lot and draw the new plans.
\nKevin<\/b>:\u00a0 I was going to ask you how investors can get the jump on other developers because of the high competition for these sorts of blocks, but I know that in your company, Advance Property Strategies \u2013 and I\u2019ve spoken to a number of people who have been through your course \u2013 you advocate doing it on your own, going and doing your homework, and even doing some door-knocking, Nhan.
\nNhan<\/b>:\u00a0 Yes, absolutely. I laugh because I know that a lot of our clients who come through the door are complaining about how we can\u2019t find deals, and that might be right to a certain degree because you\u2019re competing with everybody else when they look on the typical RealEstate.com.au. I think that RealEstate.com.au is a good place to start; however, you need to go direct to owners, whether it\u2019s sending out letters, sending out fliers, door-knocking, and getting a lot more connected with the owners.
\nI\u2019m not necessarily talking about bypassing agents full stop. I know you\u2019re a real estate agent, and in terms of property, I work with real estate agents, so I might buy it directly and I might sell it to a real estate agent. It\u2019s just that real estate agents only source some of the deals that are out there. There are a lot of sellers out there who don\u2019t want to work with an agent or they\u2019re just not ready to sell right now, and you just have to be the person knocking on their door to have a chat with them.
\nKevin<\/b>:\u00a0 Yeah, it always looks easy from the outside, but I guess many of these people who have become very successful at these small-type developments \u2013 splitter blocks and the like \u2013 they have really done their homework, they have gotten on the ground, they have walked the area, and they have become a bit of an area expert, Nhan, haven\u2019t they?
\nNhan<\/b>:\u00a0 Yes, that\u2019s right. I think it is very important to become an area expert. Too oftentimes, many people look at different areas where they spread themselves from north side, south side, east side, west side, and they don\u2019t become a laser focus, and when you become laser-focused, just like with anything, opportunities come because you focus your energy.
\nIf you\u2019re too scattered and you\u2019re looking at every bell and whistle and shiny object out there, going from splitter blocks and townhouses and this and that, and you have no skill, then it\u2019s very likely that you won\u2019t succeed.
\nIt does take three, six, 12 months to get your head around it. It took me six months to buy my first property. But after that, everything fell into place and I was buying a lot faster.
\nKevin<\/b>:\u00a0 Just on that point of not losing heart and understanding that you need to become an area expert, is there a rule of thumb? How many properties should you be looking at to actually get one viable gem?
\nNhan<\/b>:\u00a0 The ratio \u2013 and I\u2019ve mentioned this many times in my seminars \u2013 is that in a normal market\u2026 I don\u2019t believe we\u2019re in a normal market right now; we\u2019re in probably more of a buoyant market. But in a normal market, you need to look at roughly 50 to 100 to find three to five. In a more buoyant market, you might have to look at 200, maybe even 300 properties to get that same three to five.
\nBut if you do door-knocking or you do letterbox drops or fliers and connect directly with the owners, those ratios get a lot better and you can look at a lot less than the 300.
\nKevin<\/b>:\u00a0 There\u2019s a good reality snap there for us to make sure you get your homework done. It\u2019s not always as easy as it looks, but do your homework and it could really pay some big dividends. My guest has been Nhan Nguyen from Advance Property Strategies.
\nNhan, thank you so much for your time.
\nNhan<\/b>:\u00a0 My pleasure, Kevin. Thanks for having me.
\n <\/p>\n

Michael Yardney<\/a> –\u00a0Why property investors fail Part 2<\/h2>\n

Kevin<\/b>:\u00a0 And coming back with the final five common investor concerns that Michael Yardney<\/a> and his team have found in talking to investors for many, many years. We\u2019re going to touch on the last five.
\nLet\u2019s have a look at the first few, Michael. You shared with us that number one was poor property selection, number two was poor cash flow management, also wrong ownership structure, running out of time. That\u2019s a terrible feeling \u2013 the feeling that they have missed the boat. Then the final one that you gave us earlier in the show was off-the-plan woes.
\nI guess that leads us to the next one, doesn\u2019t it, about hype in the market, Michael?
\nMichael<\/b>:\u00a0 Yes, Kevin. Many unfortunate investors bought the wrong property because they looked for the next hot spot. While some enjoyed some short-term capital growth, since then, property values in all of these so-called hot spots as well as rentals have actually dropped considerably, and unfortunately, we\u2019re seeing a lot of investors with negative equity. In other words, their loans are more than the value of their properties, especially those who bought in mining towns.
\nMany of Australia\u2019s worst performing property markets over the last couple of years have really mirrored these mining towns that have gone up and down, and investors have been burned by those hot spotters who recommended them.
\nKevin<\/b>:\u00a0 Yes, that\u2019s certainly one to watch out for. What was number eight, Michael?
\nMichael<\/b>:\u00a0 Some investors didn\u2019t maximize their tax position because they hadn\u2019t obtained a depreciation report. Depreciation deductions can make a real difference for investors by helping them reduce their taxable income. Again, it\u2019s not a reason to invest, but it\u2019s nice cream on top of your other rewards, Kevin.
\nKevin<\/b>:\u00a0 Yes, it is indeed. And if you are confused, of course, you can always talk to our good friends at BMT Tax Depreciation.
\nMichael<\/b>:\u00a0 Well, Kevin, can I say that just recently, I\u2019ve organized another depreciation schedule on one of my properties and I did it online through BMT, and gee, do they make it easy. I\u2019d definitely recommend that, too.
\nKevin<\/b>:\u00a0 Yes, indeed, and you can get on to them through the link on Real Estate Talk, of course.
\nMoving on to the next one, number nine, Michael?
\nMichael<\/b>:\u00a0 Another regular concern I\u2019ve had is people who have tried to save money by using a cheap property manager, or, Kevin, worse still, managing their own properties and running into trouble.
\nGood business owners \u2013 and that\u2019s what you have to be as a property investor \u2013 recognize they can\u2019t do it all themselves. They hire a good team of professionals around them, and that includes a professional property manager. Anyone can collect rents; it\u2019s when things go wrong that you need a good professional property manager on your side.
\nKevin<\/b>:\u00a0 I\u2019ve always found it\u2019s great to have that arm\u2019s length relationship. Just to have someone in the middle there, Michael, so that you\u2019re not dealing with the tenants yourself.
\nMichael<\/b>:\u00a0 Definitely. The legislation is too complicated. It\u2019s too hard to do it on your own. It\u2019s a false saving, Kevin.
\nKevin<\/b>:\u00a0 Yes, and of course, many investors go across borders, as well, and the rules do change state to state, as well, so you just have to be very, very careful.
\nGee, we\u2019re up to number ten.
\nMichael<\/b>:\u00a0 Another concern is that the Internet is currently littered with stories of investors who have succumbed to a lot of the properties spruikers\u2019 tactics. They went to a seminar and they got pressured by high sales tactics. You rush to the back of the room and make a decision and sign the contract now, and if you do, you\u2019re going to get a discount on buying this property.
\nThey\u2019re buying off stock lists. At people\u2019s seminars, they have this list of properties to sell. Sure, they can be claims of strong capital growth and no money down, but similarly, people got a bit taken by project marketers who are working for the developer and lost out because the advice they received was far from independent, Kevin.
\nKevin<\/b>:\u00a0 And the final one, Michael?
\nMichael<\/b>:\u00a0 I guess we\u2019ve mentioned it a couple of times, but it\u2019s the concern that they didn\u2019t build a good team around themselves early enough. These investors realized that they didn\u2019t get the maximum out of their properties, so I\u2019d be recommending that you get a good network early in your investment career. That includes a good finance broker, a smart solicitor, a property-savvy accountant, and a knowledgeable property strategist.
\nKevin<\/b>:\u00a0 Yes. Just to recap, in this little segment, Michael has shared with us the 11 common investor concerns in the show this week that he and his team have gleaned and put together from all of the people they\u2019ve spoken to for many, many years.
\nJust to recap on this little portion, they believe the hype, the confusion about depreciation, property management problems, getting caught out by spruikers, and the final point you just made, Michael, about putting a great team together.
\nAt this point, too, it\u2019s always good to mention that if you really do want to get a great team together, you could probably do a lot worse than start with talking to Metropole Property Strategists.
\nMichael<\/b>:\u00a0 Thanks, Kevin. I guess in summary, I often say, \u201cProperty investment is simple, but it\u2019s not easy,\u201d and that\u2019s really not a play on words. If you follow the formula, it works, and if you try and be smart and miss steps along the way, you could up end up failing.
\nKevin<\/b>:\u00a0 You could, indeed. Michael, great sharing some knowledge with you. Thank you very much for that. Your extended exposure today in the show was very, very welcome. Thanks for your time.
\nMichael<\/b>:\u00a0 My pleasure, Kevin.
\n <\/p>\n

Shaynna Blaze –\u00a0Shaynna’s next mission<\/h2>\n

Kevin<\/b>:\u00a0 <\/b>Makeover magician on Foxtel, much-loved judge on The Block<\/i>, designer of a fabulous lighting range, and if you watched the Yass episode of Selling Houses Australia<\/i>, you would have known that Shaynna Blaze \u2013 my next guest \u2013 is a talented singer, as well.
\nHi, Shaynna.
\nShaynna<\/b>:\u00a0 Hi, Kevin. How you going?
\nKevin<\/b>:\u00a0 Wonderful. I want to pause because I just want to play this little bit of music to you.
\nSo there you go. Does that sound very familiar?
\nShaynna<\/b>:\u00a0 Just a little bit. You put me on the spot.
\nKevin<\/b>:\u00a0 Yes. That was the song that you sang there in that Yass episode. I have to confess that this version that I\u2019m playing here is not your version of It Don\u2019t Mean A Thing If It Ain\u2019t Got That Swing<\/i>. That was a great song. What does it mean to you \u2013 that song?
\nShaynna<\/b>:\u00a0 I actually used to play it in one of my bands. We had a 12-piece band. We had a horn section, double bass. It was one of those songs that we used to play, and we used to have a lot of jive dancers who used to follow us and swing dance. They used to come and just dance. It\u2019s a great memory of the time when I used to do a lot of swing singing and jazz, and it\u2019s just about pumping it up and having a great time.
\nKevin<\/b>:\u00a0 Well, there you go. There\u2019s something I didn\u2019t know about you, Shaynna Blaze, that you\u2019re a talented singer, as well, so it\u2019s more than just a hobby. Tell me a little bit more about the band. Is it still going?
\nShaynna<\/b>:\u00a0 Oh, God, no. No. There\u2019s no way I can do what I do and do singing at the same time. No. It was a time in my life. I sang really from when I was about 17 or 18 and used to be in a few very basic cover bands and things like that.
\nI used to sing at night when I was at design school. I used it to get myself through college, and then when I became a mum, having my business was absolutely overwhelming and having two little kids, so I actually stopped designing for a while and ended up just singing at night a couple of nights a week because the kids would be in bed. So it was just one of these really great things that when they were little, I was there when they were awake, but when they were asleep, I was off at bands and having a great time.
\nKevin<\/b>:\u00a0 Well, you\u2019re obviously very good at it. I was surprised when I saw it. I thought, \u201cWow. I didn\u2019t even know.\u201d How come you\u2019ve been able to keep that under wraps?
\nShaynna<\/b>:\u00a0 It\u2019s one of those things\u2026 Well, thank you, anyway. I heard a few bum notes. But anyway, that was nice of you.
\nKevin<\/b>:\u00a0 Oh, well, I didn\u2019t.
\nShaynna<\/b>:\u00a0 Look. It\u2019s one of those things\u2026 There\u2019s so much about design and creativity that all masks together, and when you\u2019re on a roll of one part of your life, you can\u2019t do all the different areas. It was really important for me to focus on the design, but also the writing, and that\u2019s why I have a couple of books out is that those are limits for the ones that work together.
\nThe actual singing wasn\u2019t part of what that was. It really only came out when I was presenting the ASTRAs a couple of years ago. They found out that I sang and they said, \u201cDo you want to do an opening number?\u201d So the first time anyone had really heard me sing was when Matt Shirvington and I did the opening number for the ASTRA awards a couple of years ago. Can I tell you, we blew them away and it was so good.
\nKevin<\/b>:\u00a0 I must admit, I missed that, so I wasn\u2019t aware until I saw the Selling Houses Australia<\/i>. Maybe I\u2019m just so focused on real estate, that\u2019s a problem.
\nShaynna<\/b>:\u00a0 Well, it was very in-house, too. That\u2019s the Foxtel awards night, so it was very in-house, yes.
\nKevin<\/b>:\u00a0 Is singing a way for you to relax?
\nShaynna<\/b>:\u00a0 It is. It\u2019s actually a bit of an escape. Painting is one of my escapes, as well. But music is something that\u2019s just definitely ingrained in my soul. My mum used to do a little part-time musical theater, and my kids have grown up with music. My daughter was learning violin. My daughter now is very into alternative music, and my kids just love music, so it\u2019s something that wasn\u2019t ingrained as a child; it was more just about have fun and a release.
\nKevin<\/b>:\u00a0 There are a few things I want to talk to you about, but I\u2019m delighted that we\u2019re able to cover off on your musical talents. Thank you for that.
\nThe other thing I wanted to talk to you about was that you were featured recently on the front cover of My Business<\/i>, and how good was that? That magazine cover, that was great.
\nShaynna<\/b>:\u00a0 Honestly, it was one of those moments where you look at it and you think, \u201cWow. Is that really me?\u201d
\nThe funny thing is I had done the interview, I knew that was happening, and I had forgotten that they said they might make it the front cover. I was sitting in the Qantas lounge. It was 6:00 a.m., no makeup, just sitting there going, \u201cOh my god. Here I go again.\u201d
\nThen I went to go get a magazine and literally looking at me was me. But a different version of me because I didn\u2019t quite have the makeup and hairstyle that I was looking at. So, just to see that, I was very taken aback going, \u201cOh, wow.\u201d
\nIt\u2019s one of those moments that you think, \u201cOh, okay. That\u2019s pretty good,\u201d and I did give myself a little pat on the back, which I don\u2019t tend to do, and I tell other people to do, so I just took that in. It was a pretty nice moment.
\nKevin<\/b>:\u00a0 We know of you on Selling Houses Australia<\/i>. We now know that you\u2019re an accomplished singer, as well. I very rarely think of you \u2013 and I should \u2013 as being a small business owner, but that\u2019s effectively what you are, isn\u2019t it?
\nShaynna<\/b>:\u00a0 Yes. Well, I\u2019ve been a small business owner really since I was about 21. I used to run my own design business before I had kids, and when I was doing music, I actually ran the band. I used to do all the bookings and the books and create the events and things like that. So I\u2019ve always had my finger in creating stuff, always making sure behind the scenes that I have control of what all the financial elements are, and that\u2019s really hard as a creative person really tapping into that business side.
\nI think one of the interesting things is that my business has always been going quite smoothly, and it\u2019s really the past 18 months, it\u2019s actually really escalated. That\u2019s because I\u2019m letting it escalate and taking on more jobs. I could have been ridiculously flat out with my business the whole time with inquiries, but I just wanted to stay small and just keep it myself and one other person.
\nBut now, with all that knowledge and everything, it\u2019s time to create the business and make it bigger. There are actually seven of us in the office at the moment, so it\u2019s a whole different world for me at the moment.
\nKevin<\/b>:\u00a0 It is, indeed. The business is called Blank Canvas Interiors. How did it get started?
\nShaynna<\/b>:\u00a0 Probably out of just wanting to be my own boss. I worked for a couple of big corporations when I was first studying design. My husband at the time \u2013 who\u2019s now my ex-husband \u2013 had his own business. He was a builder and a carpenter, so it made sense for us to work together. I would design and he would create and build. I set up my own business back then, so we kept our businesses separately. That was a good thing by the sound of it, doesn\u2019t it?
\nKevin<\/b>:\u00a0 Yes, I reckon. You must have known something.
\nShaynna<\/b>:\u00a0 I must have known. And really, it just went from there. When I came back into the world of design, I couldn\u2019t get a job, and that had a lot to do with technology that had taken over in the short time that I was away. I think it was only about four years. Everything was incredibly high tech \u2013 because I was from a commercial background \u2013and it was a lot harder to get into.
\nFor me to try to be fulfilled and do what I wanted to do, I actually had to do it myself. I did work for a couple of other people in some small areas and I was incredibly frustrated. It was one of those things that I knew I could do it on my own; I just had to push myself and take the leap.
\nKevin<\/b>:\u00a0 Have you got a mentor, someone who helps you in your business?
\nShaynna<\/b>:\u00a0 No, and one thing that I said in this business interview is get a mentor. It was one of the things that I never did.
\nI did have mentors in the fact of people who I looked up to. It was my first boss, and he is an amazing man who I still have lunch with once a year. He\u2019s incredibly humble. He owns a corporation that is immensely successful, and he sometimes still serves behind the counter and no one would know who he is.
\nHe keeps it very grounded, and to me, that\u2019s the type of mentorship that keeps me grounded. Never try and be bigger than what you are, and you\u2019re always on the same level with everybody else. That\u2019s my biggest advice I feel that\u2019s been given to me.
\nA mentor for running a small business would have been really helpful, but it\u2019s one of those things where I never felt like I was big enough to ask for help. In hindsight, you can\u2019t get bigger unless you get help.
\nDon\u2019t be afraid to reach out for help. That\u2019s something that I always kept inside me and didn\u2019t do. I would not recommend that because you can actually turn yourself in circles and not grow as you should and you make too many mistakes.
\nKevin<\/b>:\u00a0 Great advice. Just before I let you go, you\u2019re currently filming Deadline Design<\/i>, your new show. When is that due to be on the screen?
\nShaynna<\/b>:\u00a0 We don\u2019t have a date as yet. We\u2019re looking at towards the last half of the year with Lifestyle and Lifestyle Home. It\u2019s absolutely something I\u2019ve been wanting to do for years, pitching all different ideas to the station, and it\u2019s based around my private business and working with private clients.
\nMost of the design shows that are Australian are working on houses that are for sale and getting things ready on a budget, and this is all about people\u2019s real money, what they spend, how to do things to suit their own lifestyle and how people live, so it really is a peek into design and also a peek into how people live and how decisions are made of how interiors work.
\nKevin<\/b>:\u00a0 Well, when it does hit the screens, I\u2019d love to have you back on the show so that we can talk a little bit more about it.
\nShaynna<\/b>:\u00a0 I\u2019d love to. That would be fantastic, Kevin.
\nKevin<\/b>:\u00a0 My guest has been Shaynna Blaze. Thank you, Shaynna, for your time, and keep up that singing, okay?
\nShaynna<\/b>:\u00a0 Thanks.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Fifty percent of those who buy an investment property sell up in the first 5 years. Put another way – most Australians who get into property investment never achieve the financial freedom they aspire to, and worse still many property investors lose a heap…<\/p>\n","protected":false},"author":176692471,"featured_media":8321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,24],"tags":[101],"class_list":["post-8320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-shows","tag-podcast"],"yoast_head":"\nWhy half of all investors sell up in under 5 years + Abolish stamp duty - 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\/why-half-of-all-investors-sell-up-in-under-5-years-abolish-stamp-duty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why half of all investors sell up in under 5 years + Abolish stamp duty - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  Fifty percent of those who buy an investment property sell up in the first 5 years. 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