49 episodes

Your First Home Buyer Guide. Get there without missing a step.

Your First Home Buyer Guide Podcast Veronica Morgan & Meighan Wells

    • Business

Your First Home Buyer Guide. Get there without missing a step.

    What Can Go Wrong When Borrowing from the Bank of Mum & Dad? (with Barry Frakes)

    What Can Go Wrong When Borrowing from the Bank of Mum & Dad? (with Barry Frakes)

    Did you know that the “bank of mum and dad” is now the 9th largest lender in the country?

    With this option front and center, it’s incredibly important to know how the whole process works and what kind of agreements first home buyers can enter into.

    We’re joined by Barry Frakes of Australian Family Lawyers as we uncover what needs to be discussed when it comes to borrowing from the bank of mum and dad, from setting up a good agreement, preventing family frictions in case something goes wrong, and what to do if it does happen.

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    We’ll see you on the inside!

     

    Episode Highlights:
    What is “the bank of mum & dad” and what are the options? [02:52]
    Veronica’s personal “ bank of mum & dad” story [04:12]
    What to do before borrowing from the bank of mum & dad [06:12]
    Preventing family frictions when borrowing from your parents [11:39]
    Would your parents be the first mortgagee if they’re listed as a lender? [14:50]
    You need a great mortgage broker to help communicate with the bank [18:18]
    Unclear terms of agreement cause family fallouts [22:39]
    Form an exit strategy at the very beginning of the agreement [28:01]
    What about going the co-ownership route? [32:04]
    The risks of following the wrong advice [35:33]
    Prenuptials are a good idea, but it’s not absolutely essential [40:31]
    How do you even begin to talk about borrowing from mum & dad? [43:22]
    What does Barry know now that he wishes he knew at the start? [45:24]

     

    Link/s from the Show:
    Australian Family Lawyers’ legal services 

     

    About Barry:

    Barry Frakes leads Australian Family Lawyers’ international strategy, leveraging his relationships and global experience to drive their growth as a premier family law firm for international family law matters and Heads our Asset Protect Division. His international focus includes the management of relationships with partner firms internationally including Stowe Family Law in the UK. Barry is also the Governor (Asia Pacific Chapter) of the International Academy of Family Lawyers.

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 51 min
    What You Need to Know Before Buying Property to Renovate with Rebeka Morgan

    What You Need to Know Before Buying Property to Renovate with Rebeka Morgan

    Buying a property to renovate might seem like a great way to get into the market, but like any other project, there’s a lot more you need to know before jumping in!

    Rebeka Morgan of BuildHer Collective shares her expert intel on what to look for when buying to renovate or rebuild. We’re going to learn some of the secrets to getting a renovation right, understanding what to look for, knowing the pitfalls to avoid and heaps more!

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    We’ll see you on the inside!

     

    Episode Highlights:
    The Hobbit House in Wales [02:40]
    The biggest renovation mistake first home buyers make [03:42]
    What can first home buyers do to add value to a reno property? [06:23]
    Have a master plan for your property before spending on anything! [08:43]
    How to avoid over-capitalizing on a reno property [13:00]
    A process first home buyers NEED to follow to avoid pitfalls [17:09]
    Getting financed by banks for your DIY reno project (plus an alternative) [20:30]
    Consider these when rebuilding vs renovating [24:53]
    Between a pool & an outdoor area, which one will buyers rate higher? [34:21] 
    Be cautious of property issues you can & can’t overcome [38:20]
    Make sure you research well before you buy [42:03]
    Can first home buyers do property renovations without professional help? [43:34]
    Use BuildHer Collective templates for better overview of your reno [47:01]
    The story of Veronica’s most recent build [49:10]
    When does the planning phase actually start? [51:02]
    What is something you wish you knew as a first home buyer? [52:41]
    What Veronica learned in her first reno project [55:38]

     

    Links from the Show:
    Visit the BuildHer Collective website
    Episode 14: Questions You Must Ask Your Building Inspector

     

    About Rebeka:

    Rebeka Morgan is one of the Founders of the BuildHer Collective. She’s spent the last 14 years in the building industry in various management roles initially focusing on commercial construction where she was general manager of a commercial building company & more recently, Rebeka has been successfully redeveloping residential properties, which have broken sales records in Northcote. Rebeka is CEO of Beirin Projects which focuses on high end renovation and construction in the inner North.  

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 58 min
    4 Steps to Take for a Successful Strata Records Inspection with Amanda Farmer

    4 Steps to Take for a Successful Strata Records Inspection with Amanda Farmer

    Have you ever considered purchasing a strata property but then got fazed by how different it is from buying a house?

    There’s a whole additional layer of due diligence that needs to be done and before you get elbows deep in a property, inspecting strata records should be your first course of action.

    Amanda Farmer of Your Strata Property shares her expertise in strata & community titles law. We talk about why you must start with records inspection before buying, the 4 steps she takes for a successful strata records inspection, a brief look at the 101s and much more!

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    We are also holding a live Where to Buy Workshop - Investor Edition later this evening, Nov 24, 2021, 7-9PM AEDT (6-8PM Brisbane time)! If you want to join us, check out the link here!

    We’ll see you on the inside!

     

    Episode Highlights:
    The Rollercoaster Apartments in Vietnam [03:52]
    You must always start with the inspection of records before buying [05:30]
    Strata 101 for first home buyers [06:21]
    How do you know if the records you’re getting are complete & correct? [10:16] 
    Who makes up the body corporate of strata apartments? [11:13]
    Why buyers MUST examine strata records [13:06]
    Step 1 - Request to see the records [18:04]
    Get advice from someone who truly understands strata [22:02]
    Step 2 - Understand what should be there when you inspect strata records [24:22]
    Why do forecasts and the capital works fund go hand in hand? [26:54]
    What does Amanda look for in terms of strata compliance? [32:56]
    Buying old vs. new buildings [34:45]
    Step 3 - Understand the misconceptions when it comes to records inspections [38:18]
    Step 4 (for owners) - Request for any missing records you want to see [44:57]
    Step 4 (for buyers) - Ask an adviser if record details make you uncomfortable [46:00]
    Don’t be afraid to invest in strata (with the right knowledge)! [48:35]

     

    Links from the Show:
    Successful Strata Records Inspections by Amanda Farmer
    Episode 68 | How bad can things go with buying strata property | Karen Stiles, Owners Corporation Network of Australia
    Episode 87 | Building approvals, conflicts of interest & who’s to blame for construction issues? | Kerry Hunt, Manager Building Construction Team
    Episode 103 | Strata owners - rights & obligations | Amanda Farmer, Your Strata Property
    Episode 106 | Dodgy developers & Strata Living | Jimmy Thomson, FLAT CHAT
    Episode 113 | What’s behind the wall?: 85% of developments have defects | Dr. Nicole Johnston, Deakin University
    Episode 176 | Developers are in the Government’s crosshairs | David Chandler, NSW Building Commissioner

     

    About Amanda

    Amanda Farmer provides upfront, no-nonsense legal advice and representation via her legal practice, Lawyers Chambers. As a Fellow and Council Member of the Australian College of Strata Lawyers, she is recognised by her peers as an accomplished professional in the area of strata and community titles law. Amanda advises and represents owners, buildings, developers, strata management companies and local councils. She is also the host of the Your Strata Property podcast.

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 52 min
    The Journey of Two First Home Buyers Who Turned Property into a Passion [Case Study]

    The Journey of Two First Home Buyers Who Turned Property into a Passion [Case Study]

    A lot of first home buyers enter the market without knowledge of best practices, what to do first and how to do it properly. 

    Today, we’re joined by two first home buyers who found their passion for property after buying their first properties. They share the lessons they learned, mistakes they’ve made along the way, and whether or not they’d do everything the same way all over again.

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    We are also holding a live Where to Buy Workshop - Investor Edition on Wednesday, Nov 24, 2021, 7-9PM AEDT (6-8PM Brisbane time)! If you want to join us, check out the link here!

    Let’s dive in!

     

    Episode Highlights:
    The Cliff House concept [04:49]
    Where are Joe & Jef currently at in their property journey [05:49]
    Why they created AUS Property Investors [08:27]
    Joe’s first property (and why he purchased it) [10:09]
    One big mistake he made as a first home buyer [12:41]
    The mistake of focusing on cash flow [18:13]
    Jef’s first property buying experience [19:33]
    Working with buyers agents [25:57]  
    The opportunity cost of owning an unfavourable asset [32:02] 
    What held him back from buying property after property [34:52]
    When Joe realised he made a huge mistake [39:32] 
    Did it prevent him from other investment opportunities? [41:35] 
    Joe’s tips for a more stress-free property journey [42:03]
    Does location play a part in capital growth? [47:03]
    Jef’s second property and how he approached it differently [51:28]
    It’s all about the asset [56:23]

     

    Link/s from the Show:
    Connect with AUS Property Investors on Facebook

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 1 hr 2 min
    What Drives Property Prices Up (or Down)?

    What Drives Property Prices Up (or Down)?

    In a booming property market, people often think that prices will always go up - but that’s not really the case. Prices could actually go down despite the boom!

    The property market is all about supply and demand, so if there are heaps of buyers and not enough properties on the market, prices will rise, and vice-versa. Today, we’re going to look at what factors drive property prices up and what makes them fall.

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    We are also holding a live Where to Buy Workshop - Investor Edition on Wednesday, Nov 24, 2021, 7-9PM AEDT (6-8PM Brisbane time)! If you want to join us, check out the link here!

    Let’s dive in!

     

    Episode Highlights:
    “The Floating House” in Seattle, Washington [03:40]
    What influences supply in property? [06:08]
    The problem with having low supply in rising property markets [08:48]
    Financial stress & desirable yet tightly-held locations [10:11]
    Unpacking demand in the context of property [11:36]
    One powerful factor that affects demand in property [12:35] 
    How does F.O.M.O. contribute to demand in property? [13:48]
    Markets can overstretch themselves & vendors can get greedy [16:29]
    Home buyers CAN get decision fatigue! [18:31]
    Prudential regulations have a HUGE impact on demand [20:54]
    Supply and demand creates market conditions [24:52]
    Why do different cities perform differently at the same time? [27:27]
    Appreciation of land & depreciation of buildings [29:05]

     

    Links from the Show:
    What Could Make Property Prices Slow Down?
    Where Should You Invest? 

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 33 min
    Where to Buy an Investment Property

    Where to Buy an Investment Property

    Did you know that spruikers can often mislead you with promises of “making quick money with massive profits” and that you can “retire at 30” through property?

    Yeah, that unfortunately isn’t as easy as it sounds.

    Today, we’re covering the “70-30” rule, socioeconomics, vacancy rates and more. Let’s cut the BS and talk about the real story behind investment drivers and what you truly should be focusing on when looking to buy an investment property.

    If you enjoy the show, do like, rate, subscribe, and share it with others! We have loads of resources available and if you’d like to chat, email us at support@homebuyeracademy.com.au!

    Let’s dive in!

     

    Episode Highlights:
    The Igloo [02:21]
    Why you need a good property manager [04:27]
    Look at the socio-economic make-up of the area [07:11]
    It’s all about the people who live in the area & their income [10:26]
    Be aware of the demographic data of an area [13:13] 
    The “70-30” Rule [14:12]
    Why this podcast was created [16:27]
    Check an area’s unemployment rate & mortgage stress [18:35] 
    Spruikers and their tendency to talk about buying under market value [20:07]
    Measure & research vacancy rates [24:02]
    Study an area’s sales history and price patterns [27:42]
    Gentrification could be a factor for the growth of an area [28:45] 
    Look for good evidence of change in infrastructure [33:57]
    Be on top of possible zoning changes [35:00]
    Not all infrastructure projects push through in the end [38:24]
    Look at the land component before you invest [39:29]
    Yield: an overrated investment driver [40:51]
    Understand where you are in the property cycle [42:53]
    Choosing where to invest is just the first step! [43:59]



    Links from the show:
    Ways You Can Research Property for FREE (PDF Resource)
    Investment Drivers Download (PDF)
    Check out our Where to Invest Workshop!

     

    If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

    See omnystudio.com/listener for privacy information.

    • 47 min

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