The Elephant In The Room Property Podcast | Inside Australian Real Estate

By: Veronica Morgan & Chris Bates
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  • Summary

  • Who's really in control when you buy a property? The Elephant In The Room is where the things that no one wants to talk about, actually get talked about. Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate. Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property. In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session. The plan? This property podcast has been created to help us all make better property decisions!
    2024 Veronica Morgan & Chris Bates
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Business & Careers Economics Personal Finance Politics & Government
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Episodes
  • What Investors Need to Know About Perth’s Economic and Housing Future with Damian Collins

    What Investors Need to Know About Perth’s Economic and Housing Future with Damian Collins
    Dec 22 2024
    In this episode, we dive deep into the Perth property market with Damian Collins, who knows the ins and outs of this unique city. Exploring the cycles that define the city’s real estate, the hotspots and danger zones investors should consider, and the key drivers behind its growth. With over three decades of experience, Damian shares invaluable insights, and together, we unpack what’s shaping Perth’s property landscape. We break down Perth’s strong ties to the mining industry, its growing population, and how infrastructure development is influencing property values. Together, we highlight suburbs that might look promising but come with hidden risks, especially in areas with high concentrations of investors. For those thinking long-term, we discuss the potential for gentrification and pinpoint areas where future opportunities could emerge. The conversation also covers strategies for building wealth through property. We examine the pros and cons of commercial investments, how to identify properties with future development potential, and the importance of sticking to solid fundamentals. Plus, we talk about avoiding FOMO and making smarter decisions. If you’re curious about what makes Perth’s property market tick or want a fresh perspective on making the most of this region’s opportunities, this episode is for you. With Damian’s expertise and our shared insights, we deliver a straightforward guide to better property decisions. Don’t miss it! Episode Highlights: 00:00 - Introduction 01:05 - Who is Damian Collins? 02:12 - How has the Perth property market changed since 2020, and what’s next? 04:10 - How do locals feel about property prices, and are they facing affordability restraints? 05:56 - Have any parts of Perth surprised you with their growth over the last few years? 09:41 - What areas of Perth would you caution against, and what are some danger zones? 12:53 - Lessons from Perth’s 12-year flat property market that investors should consider now 16:09 - How have rents and yields shifted in response to the changing market dynamics? 22:00 - What dynamics influence homeowners’ decisions to upgrade? 29:13 - Is Perth’s commercial property still locally preferred or attracting outsiders? 32:09 - What risks and opportunities exist for small-scale commercial investors? 35:16 - What’s the best long-term growth asset for Perth property investors? 38:07 - What Perth people value most in their homes and their deal-breakers 41:08 - Is Perth’s population growth driven by interstate or international migration? 42:52 - Is Perth’s economy still vulnerable to mining industry shifts, or has it diversified? 47:01 - What are the best residential investment strategies for Perth right now? 50:06 - Are investors likely to sell underperforming assets if the property market slows? 53:37 - Damian Collins’ property dumbo About Our Guest: Damian Collins is the founder and Managing Director of residential property advisory, Momentum Wealth, and Chairman of Australian property funds management company, Westbridge Funds Management. Damian is the author of the Amazon Number 1 Best Seller, Property Investing Roadmap: How to Build an Income from Property for Life and is a well-known advocate across Australia’s real estate industry. He served as President of the Real Estate Institute of WA (REIWA) from 2018 to 2022 and as a Director of the Real Estate Institute of Australia. Having been an active property investor himself for over 30 years, Damian continues to apply his extensive experience to help fellow investors grow wealth through direct and syndicated property investments. Connect with Damian Collins: Website (Damian Collins) https://damiancollins.com.au/ Website (Momentum Wealth) https://momentumwealth.com.au/ Website (Westbridge Funds Management) https://westbridgefunds.com.au/ LinkedIn https://au.linkedin.com/in/audamiancollins Resources: Visit our website https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? https://www.flintgroup.au Work with Chris: chrisbates@flintgroup.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.
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    57 mins
  • Are 10,000 Property Investors Making the Same Mistake? with Redom Syed

    Are 10,000 Property Investors Making the Same Mistake? with Redom Syed
    Dec 15 2024
    Are 10,000 property investors all making the same mistake? In today’s episode, we have a chat with Redom Syed from Confidence Finance about something that’s affecting a lot of property investors today: groupthink. We talk about what happens when investors all start following the same trends and whether that’s helping or hurting them in the long run. Redom shares his take on the risks of this kind of herd mentality, especially when buyers’ agents are driving up demand in certain areas. We also take a closer look at how investor behaviour has shifted over the years, and why focusing solely on areas with momentum might not always be the smartest play. What happens when rental yields start to fall, or when the market slows down? How do investors shift their focus without getting caught up in the crowd? Redom talks about why local knowledge in places like North Queensland or Perth is so critical and how it can make a huge difference when it comes to finding the right investment opportunities. We don’t just talk about the risks, though. We also offer solid advice on how to capitalise on groupthink without falling victim to it. From leveraging rezoning opportunities to structuring your credit smartly to maximise borrowing capacity, Redom shares strategies that go beyond just following the herd. In the end, Redom’s biggest tip for anyone in the property game is simple: don’t just go with the flow because everyone else is. There’s a smarter way to go about the property market, and this conversation is full of ideas on how you can do just that. Episode Highlights: 00:00 - Introduction 01:08 - Who is Redom Syed? 03:18 - How Redom got into exploring groupthink in property investment 05:38 - What are the risks of buyer’s agents driving up demand in specific areas? 08:10 - What if investors shift focus due to falling rental yields? 10:29 - For North Queensland or Perth purchases, is local expertise on property essential? 17:07 - How has investor behaviour evolved in the property market over 10 years? 25:42 - Redom’s biggest tip on capitalising on groupthink in real estate 28:04 - Redom’s top investment strategies beyond momentum investing 40:06 - Where are the best opportunities under Sydney’s medium density housing code? 43:06 - Strategy to leverage rezoning opportunities or planning changes for property investment 45:46 - How to maximise your borrowing capacity through smart credit structuring 48:47 - Redom’s insights about valuations and borrowing capacity for new investors 53:36 - Redom’s biggest advice for everyone about property About Our Guest: Redom Syed is a 7x MPA Magazine Top 100 Mortgage Broker in Australia and the founder of Confidence Finance. Raised in a loving family, his life took a turn when both of his parents lost their jobs, leading to the repossession of their family home. This experience sparked a drive in Redom to take control of his future and finances. Starting as a first-home investor at 22, Redom has now built a sizable property portfolio, having bought and sold dozens of properties. His mission is to help everyday Australians make better financial decisions, empowering them to take control of their futures. Through his YouTube channel and podcast, Australian Property Talk, Redom continues to educate property investors and inspire others to achieve financial freedom. Connect with Redom Syed: LinkedIn https://au.linkedin.com/in/investmentfinance Instagram https://www.instagram.com/redom__australianproperty/ Website https://confidencefinance.com.au/ Resources: Visit our website https://www.theelephantintheroom.com.au If you have any questions or would like to be featured on our show, contact us at The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au Work with Veronica: https://www.veronicamorgan.com.au Looking for a Mortgage Broker? https://www.flintgroup.au Work with Chris: chrisbates@flintgroup.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now! Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719 Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765 See omnystudio.com/listener for privacy information.
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    55 mins
  • Home Buyer Q&A: Loans, Career Changes, and Maximising Your Borrowing Potential

    Home Buyer Q&A: Loans, Career Changes, and Maximising Your Borrowing Potential
    Dec 8 2024

    Ever wondered if changing jobs or working overseas could throw a wrench in your plans to buy a home? In this episode, we dive into some of the most common questions we hear from homebuyers. How long do you need to stay in a new job before applying for a loan? What’s the deal with borrowing as an expat? And does timing your property purchase around a career change make sense? There’s a lot to unpack here, and the answers might surprise you.

    We also dig into a tricky one: Should you push your borrowing capacity to get a better-quality property but miss out on the first-home buyer grants? Or is it better to take advantage of those grants and settle for a slightly lower-tier asset? It’s not always an easy decision, but we break down the pros and cons to help you weigh it up.

    If you’ve ever thought about renting out rooms to help you afford a better property or buying an investment property you plan to live in later, this episode will get you thinking. These ideas can work, but they come with their own set of challenges—like tax headaches and cash flow risks—that you’ll want to understand before jumping in.

    We also talk about the importance of buffers and why lenders' mortgage insurance can sometimes be a good thing, even if it feels counterintuitive. For first-home buyers especially, having a bit of breathing room in your finances can make all the difference.

    This episode is packed with real-world advice and examples, so if you’re in the thick of buying your first home or even your next one, you’ll want to tune in for this one.

    Episode Highlights:

    00:00 - Introduction

    01:57 - How long should I work at my new job to qualify for a first-time home loan?

    06:28 - How much of a disadvantage is it to apply for a mortgage as an expat?

    11:21 - What’s the smarter choice: higher borrowing power or first-home incentives?

    16:39 - Does renting out spare rooms help increase loan capacity?

    23:55 - Is it better to buy a house now or after finishing my career change?

    37:59 - Chris Bates’ property dumbo

    Resources:

    • Visit our website https://www.theelephantintheroom.com.au

    • If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au

    • Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au

    • Work with Veronica: https://www.veronicamorgan.com.au

    • Looking for a Mortgage Broker? https://www.flintgroup.au

    • Work with Chris: chrisbates@flintgroup.au

    Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

    • Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast

    • Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719

    • Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

    See omnystudio.com/listener for privacy information.
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    43 mins

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