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What Newcastle has to offer – the secret is out!

What Newcastle has to offer- the secret it out!

Jump on board now and watch our recent webinar with Judith Taylor. 

Judith Taylor is a highly esteemed property educator, author, buyer’s agent, active investor and has bought, renovated and developed more property in the Newcastle region than any other buyers agent can attest to doing.

Find out and explore the Newcastle market and discover:

  •  Why is there a focus on Newcastle
  •  6 key Factors when assessing and choosing a location
  •  How to make money when the market is down or flat
  • Investment strategies that work in the current market
  • Case studies of current projects that Judith is working across

Find out and explore ......


Here is why I am angry about the RC and you should be too.

I am not a Mortgage Broker but I am the recommendations delivered by the Royal Commission and the impact this is having on the industry really personal.

We work with an amazing panel of professionals in the Booking space. These are small-business operators who work tirelessly to get a deal over the line for clients.

They are passionate about helping homeowners and investors and are a major team player when tying up the purchase of a property.

Just to provide some clarity around what Brokers do ( beyond just sourcing a mortgage )…

  • Brokers have access to many lenders and help identify what suits you, your budget, your strategy with the lest degree of difficulty.
  • The rules placed on lending over the past couple of years have made this service very specialised, they need to seriously understand the loans, lenders, and costs to the client (hidden fees!) and need to undertake ongoing professional development
  • Brokers work really unsociable hours, often outside of the 9-5, they impart hours of knowledge, mentoring and support to clients
  • They chase and compile documents, I applied for a loan 2 weeks ago and had to provide 36 documents, THIRTY-SIX, guess who prodded me along the way – my Broker
  • They don’t get paid a cent unless their clients make a property purchase
  • If a client refinances a loan within a couple of years, the Broker gets a ‘clawback’ so all the work they did upfront turns to expensive goodwill

So what does this mean for you?

You can read more here about some of the changes proposed.

In short, if the banks don’t pay for the Mortgage Broker, then the consumer does.

Many people who are only just able to get a deposit together will be seriously disadvantaged as they rely on a bank branch or an online search tool to find a loan.

I can tell you now, an online search tool or a random call to a banks customer service center will not take the time to explain the process, they won’t do any “nice” things, like run an RPData report, refer a Solicitor or a great Buyer’s Agent or removal company.

They won’t remind you 4 times to please send in your signed forms, they won’t visit you at home at 8pm on a Tuesday, they won’t chase approvals on your behalf or valuations, they simply won’t be as accessible. 

The situation for the banks is just awesome. They no longer pay for the broker fees but get the business. When the consumer goes direct to a bank you can bet it is one of the 4 majors.

The smaller lender options will be unknown to the inexperienced buyer. The banks will have the power, they now also have reduced competition #winning!

We can make some noise, support Brokers, sign the petition.

I am meeting with the CEO of the MFAA ( Mortgage & Finance Association of Australia ) because I want to know what we can do as consumers, as investors, to support this industry.

Email me if you want me to be your voice too.

We are a big community here at Property Women. Let’s find out how we can help to turn this train wreck around. 

My rant is over for now but as a homeowner, investor, property educator, investment and strategist and buyer’s agent I need to be taking this personally.

Happy Investing! 

 

Preparing for Retirement with Real Estate

In their plan for retirement, many people invest in the share market as a means of building wealth for the future. However, the common perception is that diversification of your investment portfolio is a way to minimise the risk of losing a lot of money at once. 

Investing in property presents a great opportunity to achieve this that can offer many benefits to investors.

If you are not already involved or haven't put in many hours of research into the share market, it can be a strange, confusing and unpredictable thing. Trying to understand an explanations as to why one share went up and another went down can certainly be head spinning at times.

To investors, real estate represents an opportunity that is reasonably steady and can easily provide an income stream during retirement. You will rarely see property value or rental yields jump significantly in a short period. Instead, property values can consistently grow over time. 

It is also a good opportunity because, when investing in real estate, there are steps that owners are taking to boost the value of their investment. Improvement works to the property like renovation or landscaping are just some of the ways an owner can take improving the value of their asset into their own hands.

A bonus is that doing this can often provide a strong justification for rental increases that will see a better return on investment over the years. 

It is important to note that, while initially your returns will be lower due to the cost of taking measures to improve the value of your property, once the mortgage is paid off (hopefully by the time you retire) you can continue to rent out your property to maintain it as a revenue stream. You could also live in your investment or choose to sell it. There are a lot of options.

As with all investments, there comes some risks and downsides to investing in property.

There are always going to be ongoing costs when you purchase a property as an investment, just like there would be for your home. Maintenance costs, insurance and replacement appliances can all be costly on their own - let alone if they happen at the same time. 

But, in the long run, investing in property can present a lucrative strategy for planning a comfortable retirement that many Australians are already taking advantage of.

Planning for the future is an important step for everyone to take. If you've already invested in property and are seeking ways to maximise your return on investment, or if you're considering property investment, our real estate experts can help!

Call 02-9301-5603 to talk to Sarah Jubb - your dedicated relationship manager at Little Real estate. 

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Buddy Buying Loans – How To Build Your Property Portfolio Faster

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 Building a property investment portfolio is a dream for many women seeking to achieve financial independence. However, getting your first loan under your belt can be challenging finance wise, but you do have options.

They say two heads are better than one. Have you considered pooling your resources to buy an investment property with a friend, business colleague or family member? Or maybe you have, but you’ve held back because you feared entangling yourself in a loan with someone else and what that might mean to your credit rating and financial status if it all went wrong.

Well hold back no more, as there are lenders in the market today who allow two borrowers to buy the one investment property utilising separate loans.

And the good news is – each borrower is separately responsible for their own loans.

These types of loans offer women who want to grow their investment portfolio the option to buddy up for success, by allowing them to split the cost of buying an investment property with someone else, while retaining individual control of their finances.

Consider the Benefits:

  • Pooling money could allow you to expand your property portfolio faster.
  • Allows you to borrow more funds than you could otherwise afford on your own.
  • You might be able to buy the property you want, in the location you want, rather than having to settle for a cheaper option.
  • Your credit rating is not affected by the actions of your co-owner.
  • Each borrower can decide on how they want to manage their loan own repayments.

Naturally as standard practice each borrower needs to show they can service the loan they are taking out, but this type of loan is certainly a great option. For example, say one borrower has a sizeable deposit and the other lacks deposit but has good serviceability. In this situation buying with a buddy could be a win-win for both parties.

However, in saying that there are things to be considered.

You should always buy with a like-minded person, someone with similar goals to yourself. And you need to make sure you feel confident that the other partner is financially secure enough to make their loan repayments.

With co-ownership it is also imperative that each party seeks out independent financial advice and a co-ownership agreement is in place before buying a property.

If it all goes wrong things can quickly turn into a nightmare, so it is important to protect your position. I recommend you speak to a solicitor and have an agreement drawn up that is specific to your needs and situation.

The agreement doesn’t have to be complex, but it will require you to have rules and agreements worked out in advance – this is crucial. For example, co-owners may agree that if one wishes to sell, the other co-owners have first right of refusal to buy their share.

Things to be considered might include:

  • The contribution of deposit and the cost of the investment property?
  • Should a sinking fund be set up to cover repairs?
  • How long will the property be held before selling it.
  • A plan to pay for unforeseen maintenance costs.
  • How various insurance issues will be managed?
  • Taxation/depreciation and capital gains tax issues clarified
  • On the sale to another co-owner, how will the sale price be determined?
  • Who determines the rent payable and the tenant?
  • Will either of the co-owners live in the property and on what basis?
  • How sale proceeds will be distributed and why a sale would take place?
  • How will disputes between owners be resolved?

Reading through this list gives you some idea of the things that need to be addressed. No doubt you and your solicitor will come up with many more which is why it is important to draw up your co-ownership agreement prior to purchasing. This way you can avoid any disputes down the track.

In regards to the finance and choosing the right loan for your co-ownership investment property, banks and lenders are continually altering their products, interest rate offerings and there’s always great deals to be found.

If you would like to discuss the right loan for your buddy buying journey or revise any of your existing investment loans just give me a call.

There is no doubt that when it comes to investing in property, knowledge is power. Whether you are new to property investing or purchasing subsequent investment properties, avoiding the common mistakes made by others will ensure you build a successful property portfolio.

Contact:         Tracy Kearey
Position:         Managing Director and Mortgage Specialist
Business:        Home Loan Connexion Pty Ltd
Mobile:           +61 (0) 417 738 469
Phone:            +61 (7) 240 4800
Email:             tkearey@homeloanconnexion.com.au
Web:               www.homeloanconnexion.com.au
LinkedIn:       https://www.linkedin.com/in/tracy-kearey-67631a22/

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Geoff Doidge

 

Behind every Great Woman there could be a great man. In Property Women’s history there are actually three great men…And one stands out for mention NOW…

If you are new to property investing this name may not ring any bells yet, but if you have been in the field for the last 10+years then you should at least have heard something of the ” RENO KINGS

The Reno Kings were renown for their ability to create ” Money out of Muck “, or “Dollars out of Dirt”. Of course that may not be anything new for many renovators, but the Reno King’s uniqueness came in their ability to have FUN while they teach others to make fortunes too.

As I mentioned there were actually 3 great or ” wise ” men behind Property Women’s foundation and success. Although you will only see two keys Kings on stage, Paul Eslick and Geoff Doidge, the 3rd wise man, Steve Blably was the business backbone. It was these three men who first started Property Women back in 2006.

Geoff Doidge was the main reason Property Women exists today!

Geoff had the vision and conveyed that with conviction to Steve Blaby, who was already running the existing ultra busy and successful Reno kings business, who had the auspicious task of forming and setting up a complete new business with a focus to be run by and for women.  That’s when Judith Taylor and Rachel Barnes were asked to be involved in the leadership and management of Property Women. Before I (Jo Vadillo) purchased Property Women some years ago, the business was previously owned by the 3 Reno Kings, Judith Taylor and Rachel Barnes.

Today we want to reflect, respect and be inspired by the visionary Geoff Doidge.

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Geoff sadly passed away on 16th April 2018.

Geoff story is quite a long one, but to cut the chase, he always described himself as a " Failed Public Servant" who failed his way to success... and he didn't start until late compared to many!

After "failing" to be a good employee, he took his leave of the public service and decided to follow his passion of renovating property. He loved what he did and was getting great results, and as a gregarious guy, he was eager to share his knowledge with others.

Writing a book was of the key things on his ' wish list '. About 28 years ago, he attended a course called ' The magic of Goal Setting ' run by Josh Grant, and he shared his desire to write a book. John asked him a few questions which he didn't have answers for and John challenged him to get more clarity and define his desire to make it a goal... or to admit that it was still just a dream. 

Geoff rose splendidly to the challenge and basically wrote a manuscript within months and had his first book published! But that was just the beginning... 

Josh Grant suggested they run a few events together which they did... and that's when Geoff met Paul Eslick. The Reno Kings were born... and rest as they is history! 

It's worth noting that Geoff ended up having 7 books published, inspired and educated over 300,000 people from stage, and was still teaching though interviews until July 2017!

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Simple Ways to Add Value to Your Home?

Darren Wallis is the owner of Modern Solutions, a company that provides the services for the construction of stratco outback verandah and verandah designs. Your home is your life’s biggest investment. While maintenance for the same can go a long way, adding value to your property is equally important.

Outdoor living spaces are the best way to add value to your property. This is because it is a new addition and not just a remodeling of old parts of your home.

Having such a space added to your property can help price it at a higher level giving you a better price if you ever intend to sell it. Even if you don’t intend to sell it, investing in increasing your property will never be something you regret.

Like all redesigning decisions, adding an outdoor living space requires planning too. This includes choosing from a vast range of options. To make your decisions easier, here are a few ways you can add value to your property.

 

 

Modern Patio:

The number of residents in Melbourne that are choosing to invest in a patio is increasing as the days pass. There are also various new designs and structures that can help make any regular property look lavish and well invested in.

With additional features like bifold door and windows, roofing choices and retractable screens, modern patios are taking outdoor living to the next level.

Pergolas:

Pergolas are known to have slatted rooks that cover a patio-like structure while proving beneficial in its several features. These features include better shade, the better scope of lighting decorations and more greenery.

It also helps provide the comfort of an indoor living space while being situated outdoors. This is because it protects you from bugs and allows you to have beautiful curtains to make your living space livelier.

You can also opt for hanging flowers instead of lights or grow vines on this structure.

Gazebos:

Gazebos are similar in structure to patios; however, these can be used more extensively. Homeowners have been opting for Gazebo structures only to turn them into an outdoor lounging area, dining space, spa room, etc. A gazebo can also house your delicate plants or your coffee table and seating.

 

Landscaping or Gardening:

Choosing landscaping and gardening to add value to your home can be fruitful in resulting in an increase of 10-2o% of the same.

For those homeowners in Melbourne that love a green property, this option is ideal to delight your gardening senses. While you can enjoy the gardening part yourself, you will need to rope in a professional for expertise to get the best results and really increase the value of your home.

Proper installation is an essential part of landscaping and expert planning helps makes your expense worth it instead of turning out to be a waste.

 

Outdoor Kitchens:

While a lot of homeowners are indulging in outdoor dining spaces, the number of residents that are opting for outdoor kitchens is on a rise.

Such a construction revolutionizes the barbeque parties and takes away the need for an exhaust. This can also help your cooking experience be cooler and seem more interesting. Of course, this requires a proper set-up and facilities like electricity, gas, ice makers, burner, ovens, sink etc.

A table can also help keep your family and friends close and within hearing distance while you display your talents at small parties.

Outdoor screening room:

Imagine the amazing thrill of a cinematic experience outdoors. An outdoor screening room provides you with the same. These are also built to bear the extreme weathers of Melbourne, Australia which means that you can enjoy this experience all year round without having the hassle of removing the set up during the winters or monsoon. It is important to get a good professional to help you get the best results that will be durable too.

Lighting Options:

Inducing lighting options into your outdoor living space can make your outdoor living experience one that is brighter and more exciting. It also helps upgrade the aesthetic aspects of your outdoors.

While lighting can seem exciting it is important not to light up the place too much as it could be harsh on the eyes instead of creating a pleasant feel. Think about your decor and structure while selecting lighting and placements for the same.

Outdoor fireplace:

Take the adventurous feel of a bonfire and couple it with the comfort and peace of your indoors when you choose an outdoor fireplace. This can make some of the most boring family gathering a load of fun. It can also help you enjoy your outdoor living experience even during the harsh winters.

Counting the stars while reminiscing old memories with a cup of coffee can never get more exciting than at an outdoor fireplace.

Swimming Pools:

Adding an outdoor swimming pool or spa can help intensify the relaxation of your experience. You can also opt for a heating system that makes this addition usable even during the winters. This also takes your properties aesthetic rating to a much higher level.

Choose from these outdoor living space options to add value to your home and invest your hard earned money in your life’s biggest and most durable investment.

Have a professional help you with creating the ideal outdoor living space. They can also give you the best advice for your property and can give you better results by building structures that enhance your property and don’t stand out absurdly.

 

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