{"id":9093,"date":"2016-08-25T10:00:34","date_gmt":"2016-08-25T00:00:34","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=9093"},"modified":"2016-08-25T10:00:34","modified_gmt":"2016-08-25T00:00:34","slug":"a-walk-down-the-property-memory-lane-we-sort-the-app-wheat-from-the-app-charf","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/a-walk-down-the-property-memory-lane-we-sort-the-app-wheat-from-the-app-charf\/","title":{"rendered":"A walk down the property memory lane + We sort the App wheat from the App charf"},"content":{"rendered":"

 
\nThis week a timely warning from Anna Porter<\/strong> at suburbanite.com.au to be very cautious of filling your portfolio with regional properties, or buying in tourism hubs if you are looking to buy a growth property. These markets are volatile she says.
\nThis is week 2 of the 30 day flipping exercise with Nhan Nguyen<\/strong>. He is attempting to buy and sell a property in 30 days and make a big profit along the way.\u00a0 We will continue to follow his journey to see what we can learn. He gets some good news today.
\nA lot can happen in 10 years as you will hear today as Michael Yardney<\/strong><\/a> reflects back on the last decade. Michael outlines the 10 big factors that have impacted our property markets. A walk down memory lane.
\nWe take a look at the abundance of free and often useful online tools designed to help homebuyers and investors make decisions about property purchases. But how good are they and how much can you rely on them? We get the good oil from president of the Real Estate Buyer\u2019s Agents Association of Australia, Rich Harvey<\/strong>.
\nSam Saggers<\/strong> from Positive Real Estate is our feature guest this week telling his investment story. His first investment, how he got hooked on positive cash flow property, how he works with agents and the drivers that he looks for before buying. Lots more too in this extended chat with Sam.
\nYou will find us at iTunes under podcasts as Real Estate Talk. Listen there for free, leave a review which helps us grow and tells us what you like and how we can improve the show. Don\u2019t forget to subscribe at the site as well \u2013even if you do get the show through iTunes – so that we can tell you about the bonus offers we make to subscribers. Your questions are welcome through the site as well.
\n <\/p>\n

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

Be careful what you include in your portfolio – Anna Porter<\/h2>\n

Kevin:<\/b>\u00a0 You may recall recently I talked about some of the benefits of investing or looking as an investor at some of the regional markets around Australia. We\u2019ve also sounded a note of caution about some of the tourism hubs, too. I\u2019m going to pick up on that conversation and talk to Anna Porter. Anna is from Suburbanite.com.au.
\nGood day, Anna. Nice to have you on the show again.
\nAnna:<\/b>\u00a0 It\u2019s my pleasure to be here.
\nKevin:<\/b>\u00a0 You\u2019re a little bit concerned about some of the regional areas and particularly tourism hubs. Tell me why.
\nAnna:<\/b>\u00a0 Yes, certainly. We regularly research the 5-, 10-year, and beyond performance of markets. We often have people come to us after a regional growth property, and we say, look, regional investing is definitely one way to do it if you\u2019re chasing yields or income properties, but having a growth property in a regional area is a little counterintuitive.
\nWhen we look at the stats, typically we see regional hubs over a 10-year cycle perform at about more like 4% per annum growth whereas your more metropolitan or satellite city areas tend to perform more at 6% to 8% per annum growth. To put that into real numbers, the difference between 2% per annum over 10 years if you buy a $450,000 property is $165,000 in capital growth. That\u2019s a lot of money.
\nKevin:<\/b>\u00a0 Doesn\u2019t it depend on some of these regional areas and what the drivers are, like if there\u2019s good long-term industry, then it\u2019s going to be okay?
\nAnna:<\/b>\u00a0 There are some regional areas that have performed well, but there\u2019s always risk. If you\u2019re going into a regional area and you do get good performance, it\u2019s often from being quite speculative, so you have to be a risk taker.
\nTake, for example, some areas like recently we had a new client come to us and they had just bought some properties in Lismore, which is a university town. They came to us and they had some problems with one long-term vacancy in the property, and also they had had problems with growth. The property hadn\u2019t gone up much at all in about five years.
\nOne of the factors that we identified early on is they were buying because they felt there was stability with the university being there, but we\u2019ve actually been telling people for years to be careful of that because universities are putting on their own student accommodation, which is pulling people out of the private rental market.
\nThere are these volatility factors. We like to believe investing is like a chair; you have to have four legs, and if one of those legs breaks, you\u2019re still standing upright. If you go into regional towns or tourism hubs, you really only have one or two legs and you can very easily fall over.
\nKevin:<\/b>\u00a0 Yes, we saw that demonstrated quite sadly with some of the mining towns, didn\u2019t we? Some of the mining speculation, then the mines stopped leasing private properties and started building their own, and of course, the markets crashed.
\nAnna:<\/b>\u00a0 Yes. We\u2019ve never gone into mining towns because our barrier to entry for investing is a single industry town \u2013 whether it\u2019s a university, whether it be mining \u2013 and we\u2019ve actually now had some of our clients bring properties that they already had in their portfolio to us and say, \u201cWhat should we do?\u201d
\nOne of those locations is Dalby. Unfortunately other investment firms have recommended this to them in years gone by, and at the moment there are currently 668 properties for sale \u2013 houses \u2013 in Dalby, all quite similar, all of them are going backwards in value and these clients when we do that review have made a capital loss in the last five or six years.
\nIn real terms, that\u2019s someone\u2019s livelihood. That\u2019s someone\u2019s life savings. That\u2019s devastating.
\nKevin:<\/b>\u00a0 Let\u2019s talk about ice cream lickers: people who go to some of these tourism hubs \u2013 Gold Coast, Sunshine Coast \u2013 lick the ice creams, they\u2019re on holidays, \u201cWhat a beautiful place. I think I\u2019ll buy an investment property here.\u201d It\u2019s a cautionary note, isn\u2019t it?
\nAnna:<\/b>\u00a0 It certainly is. While tourism hubs are a great place to visit and spend a holiday, people often get drawn in by that. Some of the volatility we see in those markets is that there\u2019s not long-term sustainable employment. Tourism does bring in employment, but it\u2019s often quite finite in time, and often the biggest factor that sits in those areas is the high unemployment rates that we typically see, which again creates that speculative market.
\nWe call them more \u201cboom and bust\u201d markets. In some tourism hubs \u2013 for example, Gold Coast with the Games and that sort of thing \u2013 you can see this little boom come through, but you can see it bust just as quickly, just as heavily, at the other end of that.
\nKevin:<\/b>\u00a0 Would you be investing in the Gold Coast right now?
\nAnna:<\/b>\u00a0 No, we\u2019re not. We\u2019re actively avoiding that area.
\nKevin:<\/b>\u00a0 What about some of the areas that surround it that might benefit from the Games or even the long-term measures. Would you look at Brisbane as an example?
\nAnna:\u00a0 <\/b>Yes, we certainly are investing in Brisbane at the moment. And when we say Brisbane, we\u2019re not talking Ipswich. We have a lot of our clients who are from New South Wales or Victoria, and they say, \u201cOh, I\u2019m investing in Brisbane; I\u2019m buying in Ipswich or Toowoomba.\u201d And it\u2019s not quite the same drivers there.
\nWhen we talk about Brisbane, we\u2019re talking within 20 minutes of the CBD. We\u2019re not in flood zones. You have to be careful of that. You have to understand there are a lot of flood zones through that market, and your first insurance premium could be something you can\u2019t even jump over if you\u2019re in a flood zone. You also have to be mindful that the unit market is very oversupplied there.
\nWhile Brisbane will have a benefit, it\u2019s not just what\u2019s happening in the tourism space that\u2019s going to benefit Brisbane. There is a lot of employment being driven through the area. A lot of infrastructure has gone in over the past five and six years. They\u2019re the things that also create that longevity and sustainability and create more legs for the chair.
\nKevin:<\/b>\u00a0 Great talking to you, Anna. I\u2019ll leave you with your four legs, but we\u2019ll talk to you again real soon on the show.
\nAnna:<\/b>\u00a0 Fantastic. Thanks for your time.
\n <\/p>\n

Flipping a property – Week 2 – Nhan Nguyen<\/h2>\n

Kevin:\u00a0 <\/b>You might recall last week, I was talking to Nhan Nguyen from Advanced Property Strategies about his flipping exercise, where he secured last week a property that he intends to onsell within a 30-day period. He joins us again.
\nGood morning, Nhan.<\/b>
\nNhan:\u00a0 <\/b>Good day, Kevin. How are you going?<\/b>
\nKevin:\u00a0 <\/b>Tell me what\u2019s happened since last weekend. You secured the property. I understood it was under contract, and you\u2019ve said to me \u2013 if I remember correctly \u2013 that you\u2019re planning not to do much work to it. Where are you at with that?<\/b>
\nNhan:\u00a0 <\/b>We put the property on the market I think about three or four days after signing the contract. It had a little bit of response, but what happened is we have a buyer who\u2019s missed out on a house in the street, and I thought the other house had sold for $418,000. We purchased ours for $320,000 and he\u2019s coming in with an offer. I think in this last 24 hours, we\u2019ve recently just signed a contract at $410,000 with him. Very keen on the property, because he\u2019s missed out on the other property.
\nHe then proceeded to tell me that the other property on the street, which is lower, he\u2019d missed out and his offer was 440. So I\u2019m thinking maybe I\u2019ve sold the property too cheap, but we\u2019d been out there doing a bit of marketing, and when you\u2019re in the right place at the right time, it\u2019s pretty uncanny. We\u2019d just put it out there, put offers over $399,000 on the Internet to see what happens, and it looks like we have someone who\u2019s really keen and can go on from there.<\/b>
\nKevin:\u00a0 <\/b>I understand the process, but let\u2019s talk it through, because a lot of people are probably scratching their head and saying \u201cHang on a minute. You haven\u2019t even settled on this property yet. How can you onsell it?\u201d Take me through that process. What are the legalities there?<\/b>
\nNhan:\u00a0 <\/b>Really, once you\u2019ve signed a contract, my understanding is that you have the right to do whatever you want with it. Obviously, I can\u2019t move in without their permission, I can\u2019t take position, but I can market it for rent and market it for sale. The only challenge is I can\u2019t do the transaction from a transfer point of view until I have title.
\nI could do what\u2019s called a transfer by direction, which is a simultaneous settlement on the same day, however I don\u2019t have the authority to do that. We\u2019d have to settle first, and then 24 or 48 hours, later do another settlement on selling the property.<\/b>
\nKevin:\u00a0 <\/b>You could do what\u2019s called a simultaneous and contemporaneous settlement, which is where you settle, then you settle the purchase the property, and then you settle to sell the property again in the same transaction. Is that what you\u2019re planning to do?<\/b>
\nNhan:\u00a0 <\/b>At this stage, it hasn\u2019t worked out that way. I think the dates between the first contract and the second contract have been 13 days or so, so with the new buyer, he has 30 days to settle, so it\u2019s going to be a bit of a lag of possibly up to two weeks between my settlement and his settlement.<\/b>
\nKevin:\u00a0 <\/b>So you\u2019ll have to fund the purchase and carry it for 13 days, but you\u2019ve a profit in there of some $50,000 I think was the original projection. Is that right?<\/b>
\nNhan:\u00a0 <\/b>Yes, that\u2019s right. A purchase price of $320,000, on-purchase price of $410,000, so we\u2019re looking at a gross profit of $90,000 after stamp duty and legals. Yes, we\u2019re talking about somewhere between $70,000 and $75,000. It hasn\u2019t been quite the 30-day challenge I\u2019d planned, but once we settle and we settle again, it\u2019s going to be 13, 14, maybe 15 days from settlement to settlement and I\u2019m really happy with that, assuming it goes through.
\nLook, even if it doesn\u2019t go through, at the moment, I\u2019m working on a backup contract with someone else to sign a contract on it at a higher price, so basically, I\u2019m leaving nothing to chance.<\/b>
\nKevin:\u00a0 <\/b>This is a great response. Is it because you purchased well or purchased in an area that\u2019s in high demand?<\/b>
\nNhan:\u00a0 <\/b>I personally believe that I\u2019m an area expert in this area. I have two other projects \u2013 one is finished and the other one is being finished \u2013 and I know that the property was worth at least $390,000 \u2013 so $390,000 to $410,000 \u2013 like I mentioned on our last interview. Median price is $384,000, so I just knew that the property is under market value. It has four bedrooms, tile roof, and 700-odd square meters.
\nWith that 700-odd square meters zoned low-to-medium residential, there is a huge demand, especially at this price point. If you go into Sydney or Melbourne, anything like this within 15 kilometers, you\u2019re talking at least $700,000, $800,000, $1 million even. There\u2019s a lot of interest in this particular property, and we love it.<\/b>
\nKevin:\u00a0 <\/b>You purchased this property on the south side of Brisbane. You are based in Brisbane. Would you do this in other parts of Australia if you were not living there?<\/b>
\nNhan:\u00a0 <\/b>Mate, <\/b>I\u2019d do it wherever I could. I think it\u2019s having a marketing strategy and finding properties off-market. Oftentimes, people go to RealEstate.com.au to find deals, and by the time it\u2019s hit the Net, I believe it\u2019s too late.
\nRealEstate.com.au is a really good tool for selling property, to get top dollar and get it out there because everybody is on the Net, but to get properties under market value or dealing with property owners direct, I think you do need to either door knock, send out letters, [5:06 inaudible]<\/b>, and deal directly with owners. That\u2019s how real estate agents get leads.<\/b>
\nKevin:\u00a0 <\/b>Yes. And what you\u2019ve explained to us last week in the show, too, is how you actually secured that is that you have a marketing person who\u2019s doing exactly that.
\nNhan, we\u2019re going to continue to follow this through. I want to follow it all the way through to the final settlement, if we may, to see what \u2013 if any \u2013 problems do emerge that we can learn from. Thanks for your time.
\nIt\u2019s an interesting journey that Nhan Nguyen is taking us on as he\u2019s looking at flipping or turning over a property within 30 days. It\u2019s probably going to be a little bit longer than that, but it will be successful by the looks of it. Nhan, of course, from Advanced Property Strategies.
\nThanks for your time, mate.<\/b>
\nNhan:\u00a0 <\/b>Thanks, Kevin. Thanks for having me.
\n <\/p>\n

Lessons from the last decade – Michael Yardney<\/a><\/h2>\n

Kevin:<\/b>\u00a0 Gee, there are so many lessons we can learn by looking backwards. It\u2019s always easy in hindsight \u2013 nothing truer, of course, than the property market. I want to ask Michael Yardney<\/a>… And I\u2019ve given Michael some notice on this.
\nMichael Yardney from Metropole Property Strategists<\/a>. G\u2019day, Michael.
\nMichael:<\/b>\u00a0 Hello, Kevin.
\nKevin:<\/b>\u00a0 I set Michael the task of looking back over the last couple of years or even 10 years and looking at what have been the major changes that you\u2019ve noticed, Michael, the big factors that affected the property market. What did you come up with?
\nMichael:<\/b>\u00a0 Let\u2019s see if we can come up with a top ten list like they do on the TV shows, Kevin. I think one of the big changes over the last decade has been technology. The way property is bought and sold is different to 10 years ago when the property portals were in their infancy. In those days, you used to look at the newspapers on the weekend or you used to go to an estate agent and look at the listings in his window. Today, the vast majority of property is marketed online.
\nAnd unfortunately, some people are even buying sight unseen \u2013 we discussed that before \u2013 incorrectly so, in my opinion because they think they can get a good indication of what\u2019s happening online, Kevin.
\nKevin:<\/b> Yes, it is a big mistake. The 3D walk-throughs, they are all enhanced, and I think you need to remember that.
\nApart from technology, information has been a big change, too. I\u2019ve noticed as a real estate agent that the passage of information from the agent to the consumer has been a big shift.
\nMichael:<\/b>\u00a0 Kevin, it has been. It\u2019s created a generation of much better informed home buyers and property investors. That\u2019s good, but the very many mixed messages and the clutter has also led some investors to I guess what\u2019s called analysis paralysis. They just have too many bits of information and don\u2019t have the perspective to decide what\u2019s good and bad.
\nOthers, unfortunately, have made disastrous investment decisions based on bad information. So it\u2019s a good and a bad thing, this abundance of information, Kevin.
\nKevin:<\/b>\u00a0 That, Michael, has opened up an opportunity for more people to come in and help consumers understand all that information. They\u2019ve set themselves up as gurus.
\nMichael:\u00a0 <\/b>It happens all the time, and over the years, there have been people who have come and gone. There have also been some very good educational professionals who are stable and that have been around for a long time.
\nBut every now and then with a couple of my professional colleagues, we play a little game of \u201cWhere are they now?\u201d because people were very famous in their professional education space leaving many burned investors \u2013 uneducated investors \u2013 in their wake. It\u2019s very easy today to look professional with a website but not have much substance behind you.
\nKevin:<\/b>\u00a0 Yes. It was only last week, Michael, we talked about the growing number of investors \u2013 particularly older people \u2013 who are now investing in property. That must have been a big change, as well.
\nMichael:<\/b>\u00a0 Over the time, more Australians are wanting to secure their future, and it is related to the factor we just spoke about a moment ago \u2013 the availability of information. According to CoreLogic, there are now over two million property investors in Australia, yet most can\u2019t last the distance because they sell up after a while and most never get past their second property, either, Kevin.
\nKevin:<\/b>\u00a0 We\u2019re halfway through your top ten List, Michael, and I notice that number five you\u2019ve put the Global Financial Crisis. I would have been disappointed if it wasn\u2019t in there.
\nMichael:<\/b>\u00a0 We\u2019re talking about the ten things that affected property over the last decade, and clearly it did. And nobody saw it coming. I remember when I first heard about this sub-prime crisis across the ocean in America, I thought, \u201cOh, that\u2019s not going to affect us here.\u201d I was na\u00efve about it, as well, but it did have a profound effect on the world\u2019s economies and some countries are still not back to where they were before economically with that.
\nIt has changed our nation, as well, in the short term and actually made us a bit different in the long term with regard to lending criteria because we could have gone down that route, as well. We were giving a lot of no-doc and low-doc loans. Banks were giving money to almost anybody who approached them. And there but for the grace of God go I; we could have had those problems in Australia, too.
\nKevin:<\/b>\u00a0 To follow on from that, Michael, the mining boom in Australia pulled us out of that Global Financial Crisis, didn\u2019t it?
\nMichael:<\/b>\u00a0 The resources boom did, and we were very lucky that China wanted anything that we could dig out of the ground. But with it, it led to a mining property boom fueled by those hot-spotting property researchers. This created droves of short-term property multi-millionaires who soon learned that investing in locations that lack multiple growth drivers is fraught with danger, and some of them today still have significant negative equity. But it was definitely one of the features of the last decade, Kevin.
\nKevin:<\/b>\u00a0 Indeed. What about the rise and rise and rise of Melbourne and particularly Sydney property?
\nMichael:<\/b>\u00a0 That\u2019s been one of the features over the last decade, as well. The gap between Melbourne and Sydney and the other capital cities, and then further the regional cities, has changed, too. So two big international cities are attracting significant economic growth, population growth, jobs growth, and this is pushing up the property prices. And Kevin, if I can predict into the future, I think the gap between those two big cities and the others is only going to widen.
\nKevin:<\/b>\u00a0 Michael, recently \u2013 just last week, in fact \u2013 you and I spoke about the HILDA Survey, and in that you identified that I think it was as soon as next year, more than 50% of people will probably be renting. That\u2019s not a sudden change; that has been happening over the last few years, hasn\u2019t it?
\nMichael:<\/b>\u00a0 Our demographics are changing. The older people are getting wealthier because of the properties they own and the superannuation they have, and younger people are choosing not to buy properties as early in life or definitely not buying their homes but they\u2019re becoming renting investors.
\nThe demographic changes that have occurred are that more of us are moving to medium-density apartments and townhouses and more people are buying investments before they\u2019re buying their homes. The other big demographic shift is to the Big Smoke from regional areas related to where the jobs are. And these demographics are what drive our property markets, Kevin.
\nKevin:<\/b>\u00a0 Of course, what does actually drive the property prices is supply and demand, and we\u2019ve seen a huge amount of demand because we haven\u2019t been able to keep up with supply. That is largely on the back of some population growth.
\nMichael:<\/b>\u00a0 Population growth, which for a period of the time in the last decade, Kevin, was driven by the mining boom and people coming in to service our resources industry. Significant growth has definitely been one of the big drivers of our property markets and it\u2019s going to continue because we\u2019re having more babies, we\u2019re living longer so there\u2019s more natural population growth, and Kevin, there\u2019s also more immigration. More people want to come into Australia than we can take at the moment.
\nKevin:<\/b>\u00a0 Michael, 10 years ago, what was the interest rate?
\nMichael:<\/b>\u00a0 I think we were paying about 10%. Kevin, I remember that if your home loan was less than 10%, you used to be really happy with that. Today, rates are half that. I think one of the big differences in finance is finance is cheaper, but we\u2019re finishing off this talk about the decade with the fact that we\u2019re going through a credit squeeze.
\nIn the last decade, even during the Global Financial Crisis, it was never as hard for property investors to get money because of the regulations that APRA has put on banks, tightening the screws and making serviceability difficult.
\nKevin:<\/b>\u00a0 Of course, Michael, all of this accumulation of knowledge\u2026 And I know you\u2019re a great student of this and you document a lot of it and you\u2019ve written a number of books. Your first book 10 years ago was How to Grow a Multi-Million Dollar Portfolio in Your Spare Time.<\/i> You\u2019ve just celebrated the launch of your new book, as well.
\nMichael:<\/b>\u00a0 Yes. It\u2019s the 10th<\/sup> anniversary of How to Grow a Multi-Million Dollar Property Portfolio in Your Spare Time,<\/i> and I\u2019m very proud of that book, but I\u2019ve rewritten it because times have changed. I\u2019ve actually looked at what\u2019s happened in the past as we\u2019ve just discussed now, and if we could come back next week I\u2019d love to give you a hint of 10 things that could happen over the next 10 years in our show.
\nKevin<\/b>:\u00a0 I will look forward to that, Michael. Thank you. Have a great week, and we\u2019ll talk to you next week in the show.
\nMichael:<\/b>\u00a0 My pleasure, Kevin.
\n <\/p>\n

Has Sam always been ‘positive’ about property? – Sam Saggers<\/h2>\n

Kevin:<\/b>\u00a0 Sam, I\u2019ve spoken to you on many occasions but I don\u2019t really know how you got started in property. When was your first personal purchase of a property?
\nSam:<\/b>\u00a0 I got introduced to property at a very young age. I grew up in a neighborhood where the family of a couple of my friends and peers actually ran property companies for a living. For me, I had an experience where a lot of my friends and family influenced me to get into the property industry.
\nI actually got into property at age 18, where I got involved and went through the process of becoming a licensed real estate agent. From there, I worked within the property industry itself for a good five years. I watched people sell real estate on behalf of the clientele of the day and, for me, I created a real passion at that point in my life for getting into the property market.
\nI bought my first property when I was in my mid-twenties \u2013 about 25. Basically, the first property I purchased, I didn\u2019t use any rules of investment at all; I bought purely on emotion. I picked a unit in the area that I worked in. I thought the property was going to go up in value quite rapidly, but I ended up not doing the math correctly and chose a property that just didn\u2019t perform.
\nSo, my first property was actually an absolute dud. I ended up only owning the property for about 18 months, and I sold it after a brief ownership. The main reason I sold it was that at that point in time a few life commitments changed, and I actually couldn\u2019t afford the property in the end.
\nThe big lesson for me was to not buy on emotion, but to learn how to pick a property deal for mathematical reasons rather just because it was a cool place to live at the time.
\nKevin:<\/b>\u00a0 Sam, when you bought that property \u2013 and you obviously sold it 18 months later, and it wasn\u2019t really as successful as you would like for it to have been \u2013 was that the temptation for you to stop investing in property or was that just the lessons that you learned from that experience that drove you further?
\nSam:<\/b>\u00a0 I\u2019d saved $30,000 to get into that property deal, and it was my life savings at the time. Probably, a few people reading have lost money in one way, shape, or form over their lifetime. But when you lose money, you tend to ask yourself a few questions, and the first thing that I asked myself was \u201cHow did this happen to me?\u201d
\nI think what it came down to for me was I was listening to the wrong people, and I had no great mentors to understand what I should be really doing when it comes to real estate. I was quite eager to get back into the market. Some people asked me what was the biggest lesson I\u2019d learned out of that, and I think the biggest lesson was the ability to actually have a savings plan.
\nThough that experience cost me around $30,000 of my deposit, because I sold it at a loss, I saved another deposit within another 18 months time. I learned some invaluable lessons. I think probably that we all pay for education in one way, shape, or form, and for me it was a massive experience from an education point of view.
\nKevin:<\/b>\u00a0 What was the next property you purchased after that?
\nSam:<\/b>\u00a0 The next property I got into, I flirted with some positive cash-flow properties in regional market places. At that point in my life, I really started to work out there is a bit of a science to buying real estate and a little bit of an art form around creating offers on property that are quite discounted to what the market value of the property was.
\nMy second property was quite an inexpensive property in regional Moree, where I bought the property for some $45,000. I had some money in my back pocket, and the reason I bought that property was to get a high return; at the time, it was renting for $110 a week.
\nKevin:<\/b>\u00a0 Just on that point, you said there that you learned the lesson to buy below market. Are you talking about being a good negotiator, or just looking around for the opportunity-type properties?
\nSam:<\/b>\u00a0 It\u2019s looking for both. It\u2019s looking for the opportunity properties, and also I think becoming a good negotiator is really important when it comes to understanding how to connect with people selling properties, how to work with agents in particular, working out how to condition vendors, and how to buy off them.
\nKevin:<\/b>\u00a0 Give us some examples of what you mean by how to condition sellers.
\nSam:<\/b>\u00a0 Yeah, sure. Conditioning sellers is a bit of an art form, but it just takes a little bit of practice. The whole concept of buying real estate is a bit of a game of bluff. It\u2019s a game of understanding your adversary and just trying to counter punch. The way I look at it is you need to create objections, or counter objections with objections.
\nFor example, if a real estate agent wanted you to pay X amount, say $20,000 more than your offer, your job as a property buyer is to work out what price points around the area or what are the reasons why you won\u2019t do that. It\u2019s creating constant objections to it.
\nHere\u2019s the inside scoop: real estate agents are looking for you to give them a script and a dialogue that they can go and recondition the vendor. In real estate, we call that conditioning the vendor.
\nFor example, when the real estate agent listed the property off the vendor, typically they won that business because they used a script and dialogue. They would have discussed price at some point, but quite often when they discussed the price they would have discussed things like owner\/occupier, sales volumes in the area, open houses, marketing concepts, and things like that.
\nBut if you can give that real estate agent a script as to why the property is worth less than the vendor wants for it \u2013 for example, a script could be \u201cIt\u2019s a great property but the rental return is very low. Have you discussed the low rental return with the vendor?\u201d \u2013 the agent, who quite probably has not discussed that with the vendor, now has actually a piece of information.
\nWhat the agent will typically do is then go to the vendor and say \u201cExcuse me Mr. and Mrs. Vendor, we\u2019ve quite an interested party but they did highlight something that I haven\u2019t discussed with you. If we were to sell this property to an investor, the rental return is pretty low. Knowing that, an investor would actually offer a lot less for the property than, say, an owner\/occupier.\u201d
\nThat creates a conversation, and that is what we call conditioning the vendor. The vendor is all of a sudden on the back foot, and the seed is planted for that property to get a price reduction.
\nKevin:<\/b>\u00a0 I want to pick up something on that point, if I could, Sam? When you\u2019re talking to an agent there \u2013 bearing in mind that their job is to get the highest price for the seller, so they may not be all that disposed to taking the message back to the seller \u2013 do you try and work up a better rapport with the agent, so the agent feels they can work with you, as opposed to working against you?
\nSam:<\/b>\u00a0 Absolutely. I think you\u2019ve got to establish rapport pretty quickly within the process and make sure the agent who is in the middle doesn\u2019t get put in a position where they\u2019re negotiating on nothing, or put in a position where they don\u2019t really know who they\u2019re dealing with.
\nYou nailed it, Kevin. Rapport is a huge part of the process. But at the end of the day, if a property is on the market it\u2019s the job of a real estate agent to get the best price, but also to report the facts. Under their fiduciary responsibilities to the process, they need to take information on buyer feedback to vendors.
\nConditioning a vendor is all about gathering information. If you can find as much information on an area, a property, a street, a price range, or a rental return, and you present that to an agent to justify why you want the price at a certain price, or a reduction in price, the agent is going to use that information.
\nIf you don\u2019t have any information, if you\u2019re just negotiating because you like the property, or you\u2019re talking about it\u2019s missing a door handle or something like that, that doesn\u2019t really buy as much leverage. If you use real estate principles to negotiate, I think you\u2019re going to get a lot further.
\nKevin:<\/b>\u00a0 As a successful property investor, and someone who is working with successful investors all the time, what is the most common question you get asked about the market, Sam, and how do you answer it?
\nSam:<\/b>\u00a0 The most common question I get in real estate is what makes a good growth asset or growth property. I think investors need to look at growth drivers. There are six key drivers for growth in real estate. If people start to learn them and understand a little bit about them as a driver, they can tend to start to work out where they should be investing.
\nKevin:<\/b>\u00a0 What are those drivers, Sam?
\nSam:<\/b>\u00a0 The Growth drivers are yield. If a yield is quite high compared to the market norm, it\u2019s usually a good sign that capital growth is going to follow.
\nEconomics is important; so, where are people going to work. For example, there\u2019s a big correlation with wages; if wages are growing, generally house prices tend to grow in correlation to wage growth. It\u2019s really good if you can find an area where the economics of that area are actually growing.
\nSupply and demand is one of the biggest. If you\u2019re truly going to become an astute property investor, you\u2019ve got to really start to understand what new supply of properties are coming into a market place and when they\u2019re going to be delivered. There\u2019s no use buying in a market where there is too much supply, because you\u2019re going to be sitting there for quite a long time.
\nI think that most people I deal with are looking for a little bit of a return or profit on their investment within two or three years, as opposed to traditional property owners who are happy to wait a good ten or twelve years for a market cycle to do its thing.
\nInfrastructure is important, and we see a lot of people tend to focus on where new infrastructure is going to be built. There\u2019s an old saying in real estate: just buy next to that infrastructure and reap the benefits.
\nOne which I like studying is demographics. The reason I study it is consumer habits are very interesting. You can work out what, essentially, buyers are looking for and where they choose to live as a demographic. You see the demographic change happening in an area and you can find things like gentrification, or turbo-gentrification. Demographics, for me, are one of the best because if a new class of people move into an area, it really pushes property values quite high.
\nBeyond that, population growth is the final one. Population growth areas, high growth areas, sometimes also have a high supply of land. It\u2019s looking for high population areas with low supply of land or building coming through. If you can pinpoint all of that activity, you tend to be able to find a good marketplace.
\nKevin:<\/b>\u00a0 You\u2019ve outlined those very well, Sam. Is it possible to get all six, and if you did, is that almost a guarantee that you\u2019ve got yourself a recession-proof property?
\nSam:<\/b>\u00a0 There are obviously one or two things you\u2019ve got to take into consideration, but I think if you were to do it in a metropolitan area \u2013 a big capital city or a big secondary marketplace, leaving the small towns aside \u2013 I think you will get a pretty good return on your investment over a shorter period of time. I\u2019ve done it for 20 years, so there\u2019s no reason why other people can\u2019t do it. Absolutely.
\nKevin:<\/b>\u00a0 What advice would you give to someone who is just thinking about getting into property investment? What should be the first step they take?
\nSam:<\/b>\u00a0 There is a couple of minor steps that people need to get in the habit of. I think people in today\u2019s society don\u2019t value the concept of going through \u2013 more or less \u2013 an apprenticeship in real estate, or in anything.
\nI think the current way the world behaves is there\u2019s this instant gratification mindset out there, where people want to become a successful property investor overnight. People tend to frequent three-day courses and try to become an overnight success.
\nI actually think that, having done it the slow way \u2013 over virtually two decades \u2013 there is something to that. For people getting involved in real estate, the first things they need to consider are just staying in it for the long term and also on working on building a team of people around them who are going to help for the long term, and taking advice from people who have done it over a longer term period rather than any sort of fly-by-night activity.
\nI think people can buy a property a year for ten years \u2013 I know they can \u2013 and at the end of the day if you could get that result, you would end up in a really good position in your life.
\nKevin:<\/b>\u00a0 You\u2019re talking there about building a team, and we\u2019ll talk about the team in just a moment. Before we do, I just wanted to ask you about your first experience and how you were a failure at that. Do you think that made you a better investor? Is that what you\u2019re hinting at when you\u2019re talking about getting that experience yourself?
\nSam:<\/b>\u00a0 Without a doubt! When you lose something and you go through the pain process, you ask the universe, \u201cWhy did that happen?\u201d For me, the first thing that I looked at was the team around me. I soon realized that I didn\u2019t really have a team and I was taking advice from people who weren\u2019t actually even successful in property. They were just my peers at work.
\nThe interesting thing for me was I worked at a real estate agency and the ten people who worked there were giving me advice. I was listening to these people because they had been long time realtors, but only one of them owned an investment property. The others didn\u2019t even own real estate. I really looked at who I was listening to, and I soon realized that one of the big furphies within the industry is that realtors don\u2019t necessarily own real estate, so they\u2019re not necessarily the best people to go and listen to.
\nKevin:<\/b>\u00a0 It\u2019s not only real estate agents. You made a very good point there; it could be any advisor you may listen to who, if they haven\u2019t had that practical experience or are not investors, are certainly not the sort of people you should be listening to.
\nSam:<\/b>\u00a0 Absolutely. One of the questions that I would encourage people to ask people they\u2019re dealing with is where do they own property, or whatever they\u2019re investing in? I think it provides a deeper level of empathy over how hard it is sometimes to go through a property transaction.
\nI think everyone needs to go through an apprenticeship; you need to listen and be coached, and actually work or associate with people who\u2019ve had ups and downs in whatever experiences they\u2019re going to share with you. It doesn\u2019t have to be about real estate, but the concept of taking time to work with someone or learn from someone is, I think, important for investors.
\nKevin:<\/b>\u00a0 If you were putting a team of advisors together now, who would you have on that team?
\nSam:<\/b>\u00a0 Without question, it\u2019s important to have a really good accountant, a really good advisor when it comes to self-managed superannuation. At the moment, it\u2019s really important to take control of that when it comes to whatever you\u2019re doing with your super.
\nI believe a good property strategist is important \u2013 someone you can talk to about property. For most of us, we actually grow up in an environment where people don\u2019t talk about money or talk about wealth. Not a lot of us are brought up in that format. Quite often, our own internal peer group is quite dysfunctional in a way.
\nAbove all, you need to find someone to talk to about your goals and about what you want in your life. If money is something that you want, you need to be able to talk to a mentor. However that looks to you, I don\u2019t know, but find a mentor \u2013 someone who has been down the path and done it before.
\nKevin:<\/b>\u00a0 You\u2019re talking there about an accountant and about getting a strategist to work with you as well. A solicitor? Just as important?
\nSam:<\/b>\u00a0 Absolutely. The more properties you buy, the closer a bond you need with a good solicitor, or even a conveyancer or settlement agent \u2013 just someone who can help you understand where you are at when it comes to contract law processes.
\nKevin:<\/b>\u00a0 What about a real estate agent? Would you put someone like that on your team too?
\nSam:<\/b>\u00a0 Look, there are great realtors out there, absolutely. If you\u2019re pinpointed at a particular area that you\u2019re focusing on, building relationships with real estate agents is imperative. I think you can do it yourself, certainly with the help of a team. For most people, it\u2019s just getting connected with that team to start with.
\nKevin:<\/b>\u00a0 Sam, who do you turn to for inspiration? Who inspires you?
\nSam:<\/b>\u00a0 I think today it\u2019s very easy to find inspiration. It\u2019s going to sound a bit silly, but I actually get a lot of inspiration using the Internet. I value self-learning, and I find there is so much free education these days within the realms of the Internet that it\u2019s an easy and simple way for people to get started.
\nFor big picture inspiration, I\u2019m still inspired by my dad, who is a great businessman and a great leader within our family structure. I also have a few other more inspirational people that I\u2019m a big fan of \u2013 people like Margaret Lomas; she inspires me.
\nKevin:<\/b>\u00a0 You mentioned your dad there. Growing up, was he giving you some good lessons in saving money? Obviously, you started to save at a very young age, as you\u2019d said you saved $30,000 for your first deposit, which is no mean feat! Was your father a great inspirer for you in that?
\nSam:<\/b>\u00a0 Yeah. My father is very much a realist. I think the blessing he instilled in me was to get ahead in life, you need a little bit of a high quality work ethic, and you need to think and plan. He is a great strategist. He imparted on me not worrying about the day-to-day stuff but engaging the world on big-picture stuff. What he taught me was you need to get out there and build your own life and your own nest egg. I think that was an awesome set of teachings that he imparted on me.
\nKevin:<\/b>\u00a0 You certainly started at a young age; you said you started at age 18. Did you start in real estate at age 18?
\nSam:<\/b>\u00a0 I started in real estate aged 18, yes.
\nKevin:<\/b>\u00a0 What does success mean to you?
\nSam:<\/b>\u00a0 Success for me is freeing people financially to live the life that they want to live.
\nKevin:<\/b>\u00a0 What about you personally? What does success mean to you? Not about giving to other people. How do you measure your success?
\nSam:<\/b>\u00a0 I know it\u2019s probably a little bit similar to what you\u2019re trying to say, but I actually do measure my success by how many people I can help along the way. I\u2019m a big believer in sharing knowledge and information. I\u2019m measuring my current success by building schools overseas. I\u2019m a big believer in education. To date, I\u2019ve been able to fund, through property investing, six schools: two in Nepal, two in Laos, and two in Vietnam.
\nFor me, I don\u2019t have a problem getting out of bed every day, because I know that what I do and what I get out of it is to free people financially to live the life they want; whether that be a young 25-year-old property investor who is buying their first investment property and just needs some technical expertise, a multimillion-dollar property investor who is looking to find an amazing subdivision somewhere, or a person who has grown up disadvantaged and looking for a break in a third world country. That\u2019s why I exist.
\nKevin:<\/b>\u00a0 We\u2019ve been through a pretty tough time in the last couple of years. The economy has not been too good, and there have been a lot of people who\u2019ve actually failed not matter what they\u2019ve tried.
\nWhen someone does have a failure or a setback, like you did in the early stages, what do you think people should do to turn that around and keep themselves motivated to keep going?
\nSam:<\/b>\u00a0 I think absolutely there\u2019s going to be a point in our lives where something goes wrong \u2013 where someone we love passes away, where we get a divorce, where a business partner or a business fails, or something like that. I think for most of us, if we have a good relationship with our goals and our wealth, you can work through things quite easily.
\nAt the end of the day, I don\u2019t believe that anyone is getting involved in real estate to make themselves wealthy. Call this naivet\u00e9, but I think people buy real estate and fail, and also succeed, because they want to \u2013 generationally speaking \u2013 pass on a better life for someone else. For most people that\u2019s their children.
\nI think if people do have a setback in real estate, you\u2019ve got to just get back on the horse and give it another go. The fact remains you will have setbacks through your life. I think that\u2019s why most people fail at real estate.
\nThere\u2019s an interesting statistic where of all the investors that are out there only one percent of them – I think the statistics from the Australian Bureau are around 11,000 people today – have more than six properties in Australia. That\u2019s a pretty interesting statistic, and it tells me that out of all the investors that get out there, most people won\u2019t go the distance because they will run in to some sort of adversity.
\nI think it\u2019s about overcoming your adversities and becoming a good money manager, and just having clear goals \u2013 resetting your goals and going again.
\nKevin:<\/b>\u00a0 Sam, thank you very much for your time. It\u2019s been great talking to you.
\nSam:<\/b>\u00a0 I appreciate being on board.
\n <\/p>\n

Sorting the good Apps from the not so good Apps – Rich Harvey<\/h2>\n

Kevin:\u00a0 <\/b>In this digital world, there is an abundance of free and often useful online tools out there to help homebuyers and investors make decisions about property purchases. In fact, you might have a couple on your phone right now. I know I certainly do. But I have to say \u2013 and we\u2019ve said this in the past \u2013 that you have to be careful about how much you rely on the information you get from some of these.
\nI want to find out a little bit more about this, because that\u2019s not just my thought; that is also a sentiment that\u2019s been expressed by probably Australia\u2019s foremost authority when it comes to buyer\u2019s agents, and that is the Real Estate Buyer\u2019s Agents Association of Australia. The president of that organization \u2013 who has just been re-elected too, by the way \u2013 is Rich Harvey.
\nGood day, Rich.<\/b>
\nRich:\u00a0 <\/b>Good day, Kevin. How are you?<\/b>
\nKevin:\u00a0 <\/b>Good, mate, congratulations. How many nominations were there? Just you?<\/b>
\nRich:\u00a0 <\/b>Yes, it was just me this year. I was elected again, so they\u2019re happy with the job I\u2019m doing.<\/b>
\nKevin:\u00a0 <\/b>So you drew the short straw.<\/b>
\nRich:\u00a0 <\/b>I put my hand up, so I volunteered. It\u2019s a hard job, but someone has got to do it.<\/b>
\nKevin:\u00a0 <\/b>It\u2019s a great organization, and it\u2019s been growing in importance all the time, too. Of course, buyer\u2019s agents are very strong overseas, but they\u2019re certainly getting a bit of a foothold in Australia. I think it was that thing that people had to get used to understanding that they needed to pay for professional advice like this, Rich.<\/b>
\nRich:\u00a0 <\/b>That\u2019s right, indeed, and a very worthwhile investment.<\/b>
\nKevin:\u00a0 <\/b>Let\u2019s talk about these apps. You\u2019ve expressed some concern about them. Why is that?<\/b>
\nRich:\u00a0 <\/b>I think you have to be very careful with these apps. They\u2019re actually quite useful in some contexts, and they provide a wealth of information that can help buyers locate and compare properties, but the key thing is that you do need a human being to provide an interpretation of that data and to give an accurate valuation estimate of a property.
\nThe thing is that these automatic valuation apps may not take into account the outlook, the privacy, or some really specific things about a location that can dramatically impact the actual valuation.
\nThe other thing is if you have an app that\u2019s a predictive app that says \u201cCapital growth is going to be 7.6% in this particular suburb,\u201d someone might rely totally on that one forecast to buy a property in that area, and then the train line doesn\u2019t go through, the hospital doesn\u2019t get built, the bypass is not built, and then that area might actually only perform at 1% or 2% a year. They\u2019ve bought a property in completely the wrong area.<\/b>
\nKevin:\u00a0 <\/b>Just on that point, too, not only just in suburbs, but we\u2019re even talking about streets within suburbs that can vary. <\/b>To say that a particular suburb is going to go up by a certain amount, it\u2019ll vary around that particular suburb.<\/b>
\nRich:\u00a0 <\/b>That\u2019s right. There are a lot of local and very specific factors that can influence the value on a property. You can be one street away from a main road and it can be quite a reasonable value, but on the main road, it\u2019s terrible value.
\nThere are all those specific factors, and that\u2019s where a buyer\u2019s agent\u2019s experience is invaluable, because they know that local market and they take into account all of those local factors. They can then recommend a specific strategy and type of property that\u2019s going to suit that investor\u2019s specific circumstances.<\/b>
\nKevin:\u00a0 <\/b>A lot of these apps draw their information from data sources like CoreLogic RP Data or APM PriceFinder, but unfortunately with those, they don\u2019t know when a property has been renovated unless it\u2019s resold and then that is updated. This is one of the major flaws I see.<\/b>
\nRich:\u00a0 <\/b>That\u2019s right. I think it\u2019s definitely a flaw. Some apps will have you believe that if you hold your phone up to the letterbox on the address, it\u2019s going to spit out a number. But that number could be out by 20% or more.
\nThere are two things here: let\u2019s say you hold your phone up and it spits out a value of 800,000, that could actually underquote the current market value, and it makes the person who has that app really excited about buying that property. They then go and spend some money doing a [3:51 inaudible]<\/b> getting the contract reviewed, and then they start making offers or turning up at auction, but they\u2019re way below the price that that property is going to sell for.
\nOn the flipside of that\u2026 That\u2019s the underquote number. It could come out underquoted, or it could come out overquoted. It might actually spit out a number of, say, $1.2 million, in which case the buyer goes \u201cOh, I have no hope of buying this,\u201d walk away from it and actually find that they could possibly get it for $1 million. There\u2019s a lot of danger in just relying on one number that\u2019s spat out by an app.<\/b>
\nKevin:\u00a0 <\/b>I was deeply concerned several months ago when I saw an advertisement \u2013 a television ad \u2013 for a major bank, where they had obviously done\u2026 You probably know which one I\u2019m talking about.<\/b>
\nRich:\u00a0 <\/b>I know exactly which one.<\/b>
\nKevin:\u00a0 <\/b>They had done a deal with one of these data providers to provide this sort of information, and here are a couple of buyers fronting <\/b>up to an agent, the agent won\u2019t disclose any value, they hold up the app, and the agent says \u201cOh, yes. Well, there you go.\u201d It really concerns me that the banks are starting to endorse these, as well.<\/b>
\nRich:\u00a0 <\/b>One of the key things in doing a valuation, you have to look at comparable properties. The problem with the apps is that it\u2019s all automated, so a three-bedroom, two-bathroom, one-car home in one suburb in one street compared with another one in another street, it\u2019s supposed to spit out a particular value. But it doesn\u2019t take into account the size of the room, it doesn\u2019t take into account the renovation, the quality of finishes, the land size, the aspect, the slope. All of those factors is what a human valuer or a human buyer\u2019s agent will take into account.
\nI always say that when you look at these apps, you have to overlay a good dose of common sense when you\u2019re looking at the numbers.<\/b>
\nKevin:\u00a0 <\/b>How much notice do the banks take of these apps when they\u2019re doing their valuations? Do they take into account desktop valuations?<\/b>
\nRich:\u00a0 <\/b>That\u2019s the thing. Some of the banks, under a certain price, will do desktop valuations or a drive-by. They don\u2019t appoint a formal valuer to go and physically inspect the property. But that\u2019s majorly flawed. A buyer\u2019s agent \u2013 and that\u2019s part of our constitution \u2013 must go through the property that they\u2019re recommending to the client, to identify all the features and benefits and any drawbacks on the particular property and come up with a proper, comparable analysis.<\/b>
\nKevin:\u00a0 <\/b>It may just come to the stage where as a buyer or a borrower, you could actually demand from a bank that they get a proper valuation done, because at the end of the day, that\u2019s part of your application fee. That\u2019s what you\u2019re paying for, is a valuation.<\/b>
\nRich:\u00a0 <\/b>Absolutely, and that\u2019s the bank\u2019s protection, as well. They don\u2019t want to be lending 80% on an inflated value, because then they\u2019ll find there\u2019s no equity in the property, there\u2019s no buffer in there.<\/b>
\nKevin:\u00a0 <\/b>Okay, the bottom line, the message is \u201cBe aware; don\u2019t be alarmed,\u201d something like that?<\/b>
\nRich:\u00a0 <\/b>That\u2019s right. Absolutely, and again, don\u2019t be afraid to get help in interpreting these numbers. Don\u2019t just take it as gospel what these actual figures are, because the figures quoted \u2013 as I said \u2013 are quite inaccurate. Take into account the local factors, and get a professional to help you.<\/b>
\nKevin:\u00a0 <\/b>Before I let you go, I had heard somewhere that it\u2019s been quoted that online apps are a great way for homebuyers to save money, because they\u2019re not using a buyer\u2019s agent or engaging other professionals. What\u2019s your reaction to that?<\/b>
\nRich:\u00a0 <\/b>There\u2019s a saying that says there\u2019s a high cost for free advice. If you have a medical problem and need medical attention, you want the best doctor to operate. If you\u2019re going to go to court, you want the best barrister on your side. The same applies when you\u2019re buying a property; you want the best buyer\u2019s advocate on your side.
\nSure, people can use these apps and they can get some numbers, but nothing is going to replace having a professional buyer\u2019s agent representing that person throughout the process. One of the things that buyer\u2019s agents do really well is negotiate. Having someone who\u2019s independent in your corner working the agent hard to get it for the right price is really powerful.
\nThe buyer\u2019s agents charge generally a fixed free. It works out to around 2% for the full search or around 1% just to appraise and negotiate, but the full search will dig up both on-market and off-market properties.
\nIt\u2019s a false economy to think that just using an app is going to save you money, because you have to understand the interpretation of the numbers, do the comparable analysis, and really, those apps are a complement for the service, not a replacement for that service.<\/b>
\nKevin:\u00a0 <\/b>Well said. Rich Harvey, president of REBAA, the Real Estate Buyer\u2019s Agents Association of Australia. Thanks for your time, Rich.<\/b>
\nRich:\u00a0 <\/b>My pleasure. Thanks, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  This week a timely warning from Anna Porter at suburbanite.com.au to be very cautious of filling your portfolio with regional properties, or buying in tourism hubs if you are looking to buy a growth property. These markets are volatile she says. This is week…<\/p>\n","protected":false},"author":176692471,"featured_media":9094,"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-9093","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":"\nA walk down the property memory lane + We sort the App wheat from the App charf - 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\/a-walk-down-the-property-memory-lane-we-sort-the-app-wheat-from-the-app-charf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A walk down the property memory lane + We sort the App wheat from the App charf - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  This week a timely warning from Anna Porter at suburbanite.com.au to be very cautious of filling your portfolio with regional properties, or buying in tourism hubs if you are looking to buy a growth property. These markets are volatile she says. 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