End of Season 1: Entering the Property Market Recap.

Description:

In this final episode of our first season on Established Wealth, we’re tying together all the essential steps in purchasing a property, whether you’re a first-time listener or have been with us from the start. Hosts Tiffany and Toby provide a comprehensive recap, from laying the groundwork with financial health to crossing the finish line with settlement and beyond.

Key Takeaways:

1. Financial Foundations:

   • The importance of establishing an emergency fund before diving into property ownership.
   • How budgeting and developing good money habits set the stage for financial success.

2. Borrowing and Mortgage Prep:

   • Understanding your borrowing capacity, serviceability, and the "5 Cs of Credit" that lenders use to evaluate your loan application.
   • The crucial role of mortgage brokers in navigating lender policies and securing the best deal.

3. Exploring Grants and Lender Options:

   • Insights into government schemes like the First Home Loan Deposit Scheme and guarantor loans, and how they might (or might not) benefit you.
   • Tips for selecting the right lender based on your unique financial situation.

4. The Homebuying Process:

   • Setting a realistic budget, considering all costs from legal fees to moving expenses.
   • The value of using a buyer’s agent, especially for auctions and off-market properties.

5. Finalizing the Purchase:

   • Navigating the settlement phase, organizing your move, and the excitement of becoming a homeowner.

As we wrap up Season 1, don’t forget to send in your questions or topic suggestions for next season through our social media channels. We’ll be back with more valuable insights to help you on your path to Established Wealth.

Contact Us:
Website: www.establishedwealth.com.au

Email: toby@establishedwealth.com.au | tiffany@establishedwealth.com.au

Instagram: Toby_EstablishWealth | Tiffany_MortgageBroker

Download E-Book: www.establishedwealth.com.au

Australian Credit Licence: 389087

ASIC Authorised Credit Representative Number: 559315

Making an Offer: Navigating the Post-Acceptance Process, Cooling-Off Periods, and Special Conditions

Description:

In this episode of Established Wealth, hosts Tiffany and Toby take you step-by-step through the crucial process of making an offer on a property, what happens once it's accepted, and the key details about cooling-off periods and special conditions that every buyer should know. Whether you're a first-time homebuyer or a seasoned investor, this episode is filled with practical insights to ensure you make informed decisions and avoid costly mistakes.

Key Takeaways:

Making an Offer on a Property: Tiffany and Toby kick off the episode by discussing how to make a strong, serious offer on a property. They highlight the importance of submitting an offer in writing and ensuring both parties sign a contract of sale to make it legally binding. They also explain why consulting with a solicitor early in the process is crucial to understanding your rights and obligations.

Signs Your Offer Is Being Considered: The hosts share four telltale signs that indicate your offer is being seriously considered by the seller, including requests for proof of funds and counteroffers. These indicators can help you gauge where you stand in the negotiation process.

Understanding the Cooling-Off Period: Delve into the complexities of the cooling-off period, a critical stage in the property buying process that allows you to back out of the deal under certain conditions. Tiffany and Toby explain how this period works, its timing, and why it's essential to have professional legal advice during this time.

Real-Life Case Study: Toby shares a real-life example of a client who made an offer on a property without having pre-approval, leading to a highly stressful and risky situation. The story underscores the importance of securing pre-approval before making an offer, as well as the potential consequences of not doing so.

The Role of a Mortgage Broker: The episode highlights the vital role a mortgage broker plays in guiding clients through the property buying process. From obtaining pre-approval to managing complex situations like extended cooling-off periods and special settlement conditions, Tiffany and Toby showcase how a broker's expertise can be the difference between a successful purchase and a lost deposit.

Tips for a Smooth Property Purchase: Tiffany and Toby wrap up the episode with practical advice on ensuring a smooth property purchase. They emphasize the importance of early engagement with a mortgage broker, understanding the full scope of your financial capacity, and being prepared for unexpected challenges.

Contact Us: Website: www.establishedwealth.com.au
Email: toby@establishedwealth.com.au | tiffany@establishedwealth.com.au
Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker
Download E-Book: Establish Wealth E-Book
Australian Credit Licence: 389087
ASIC Authorised Credit Representative Number: 559315

If you have any questions or topics you'd like us to cover, feel free to reach out. Don’t forget to subscribe and leave us a review!

Top Performing Real Estate Agent Luke Morrison Shares Tips for Successful Property Buying and Selling.

Description: In this episode of Established Wealth, hosts Tiffany and Toby sit down with one of Newcastle’s top estate agents, Luke Morrison, who has sold over 90 properties this year already. Luke shares his journey from starting in admin to becoming a leading agent in the competitive real estate market. The trio dives deep into the strategies that make Luke successful, offering listeners a masterclass in how to navigate the property market, whether you're buying or selling.

Key Takeaways:

1. Luke's Real Estate Journey: Luke discusses his path into real estate, starting from his early days in admin to becoming a lead agent. Hear how he overcame challenges and developed the skills that have made him a top performer.

2. Understanding Buyers: Learn the critical importance of qualifying buyers at open homes. Luke explains the right questions to ask and how understanding buyer psychology can help in closing deals efficiently.

3. Building Strong Buyer Relationships: Discover the strategies Luke uses to build rapport with buyers, ensuring they feel valued and understood. His approach to nurturing these relationships is key to his success.

4. Market Trends and Buyer Behavior: Tiffany and Toby explore how market trends, such as the end-of-financial-year rush, affect buyer behavior and what agents can do to keep deals moving in slower markets.

5. The Importance of a Strong Team: Luke highlights the benefits of working with a dedicated team that complements each other’s strengths. This synergy allows for personalized service that caters to different buyer personalities.

6. Pre-Market and Off-Market Sales: Understand the concept of pre-market sales and how Luke uses off-market opportunities to secure deals before properties hit the broader market.

7. Expert Tips for Buyers: Luke shares his top advice for buyers entering the property market, including how to interact with real estate agents and what to look for during inspections to make informed decisions.

Join Tiffany, Toby, and Luke as they uncover the secrets behind successful property transactions, providing valuable insights for both buyers and sellers looking to navigate the real estate landscape.

Contact Us:

Website: www.establishwealth.com.au

Email: toby@establishwealth.com.au | tiffany@establishwealth.com.au

Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker

Download E-Book: Establish Wealth E-Book

Australian Credit Licence: 389087 ASIC Authorised Credit Representative Number: 559315

Feel free to reach out if you have any questions or topics you'd like us to cover. Don't forget to subscribe and leave us a review!

Contact Luke Morrison:

Instagram: LukeMorrison_BelleProperty

Email: Luke.Morrison@BelleProperty.com

Welcome to another insightful episode of our podcast! Today, we are thrilled to be joined by Kerri Ann from Carnelian Projects, a trailblazer in the residential construction industry and one of the few women in Australia with her own building plans. Hosted by Tiffany and Toby, this episode dives deep into the intricacies of building contracts, offering invaluable tips for those looking to build their dream home.

Kerri Ann founded Carnelian Projects in 2011 with the goal of guiding clients through the construction process, from first home buyers and investors to owner occupiers. She specializes in meticulously reviewing building contracts, ensuring clients know exactly what they're signing up for.

In this episode, Kerri Ann shares her journey and expertise, discusses the common pitfalls in building contracts, and explains the importance of understanding every detail before signing. She also provides tips on selecting the right builder, the significance of having an independent building inspector, and the role of liquidated damages in protecting clients.

But that's not all! Kerri Ann also gives us a glimpse into her personal life, from her love of dancing and participating in fundraisers to her passion for old buildings and her role as a mother and soon-to-be grandmother.

Whether you're considering building your first home, looking to invest in property, or simply interested in the construction industry, this episode is packed with practical advice and expert insights that you won't want to miss. Tune in and empower yourself with the knowledge to navigate the complexities of building contracts and make informed decisions for your next construction project.

Understanding Building Contracts: Kerri Ann explains the critical elements to look out for in building contracts and the common misconceptions that can lead to unexpected costs.

Selecting the Right Builder: Learn how to choose a builder that aligns with your needs and the importance of a builder's reputation and transparency.

Independent Building Inspections: The necessity of having an independent building inspector to ensure quality and adherence to standards.

Liquidated Damages: What they are, how they work, and why you should ensure they're included in your contract.

Personal Insights: A peek into Kerri Ann’s personal life, her passion for old buildings, and her involvement in community fundraisers.

Join us for a deep dive into the world of building contracts with Kerri Ann from Carnelian Projects, and walk away with the knowledge to make your building experience as smooth and stress-free as possible.

Get in touch with Kerri-Ann

Instagram: CarnelianProjects

Website: www.carnelianprojects.com.au

Email: sales@carnelianprojects.com.au

Contact Us:
Website: www.establishedwealth.com.au
Email: toby@establishedwealth.com.au | tiffany@establishedwealth.com.au
Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker
Download E-Book: Establish Wealth E-Book
Australian Credit Licence: 389087
ASIC Authorised Credit Representative Number: 559315

Unlocking Your Dream Home: A Comprehensive Guide to Buying Land and Building

Description:

In this episode of Established Wealth, hosts Tiffany and Toby delve into the intricate process of purchasing land and building a home, including the nuances of house and land packages. Whether you're an aspiring homeowner or an investor, this episode is packed with essential insights to help you navigate the complexities of construction loans, budgeting, and selecting the right builder.

Key Takeaways:

Introduction to Purchasing Land and Building a Home:
Tiffany and Toby introduce the topic of buying land and building a home, emphasizing the benefits and potential challenges. They highlight the importance of thorough planning and understanding the various stages involved in the process.

Understanding Construction Loans:
Learn about the unique structure of construction loans, which are typically split into two parts: one for the land and one for the build. Tiffany and Toby explain how these loans work, including pre-approval, drawdown schedules, and interest payments during the construction phase.

Budgeting and Financial Considerations:
Discover the importance of setting a realistic budget for your construction project. Tiffany and Toby stress the need for contingencies to cover unexpected expenses and discuss the financial implications of paying for accommodation while also managing mortgage repayments.

House and Land Packages vs. Custom Builds:
Explore the differences between purchasing a house and land package and buying land to engage a builder of your choice. Learn about the pros and cons of each option, including flexibility in design, potential cost savings, and the level of control you have over the project.

Professional Assessments and Contracts:
Understand the significance of professional assessments, such as soil testing and site inspections, before starting your build. Tiffany and Toby highlight the importance of thoroughly reviewing contracts to ensure you know what is included and avoid hidden costs.

Maximizing Return on Investment (ROI):
Gain insights into calculating the ROI of your build and how to compare it with other investment opportunities. Tiffany and Toby share tips on selecting upgrades and finishes that offer the best value and help increase your property's overall worth.

Tax Implications:
Learn about the tax implications associated with building and selling a property. Tiffany and Toby explain the difference between revenue and capital expenditures and how these impact your financial planning.

Real-Life Experiences:
Hear about Tiffany and Toby’s personal experiences with building their homes, including the challenges they faced and the lessons they learned. Their stories provide valuable guidance for anyone considering a similar project.

Tips for Success:
Get practical advice on ensuring your construction project runs smoothly. From selecting the right builder to managing your budget effectively, Tiffany and Toby share their top tips for a successful build.

Contact Us:
Website: www.establishedwealth.com.au
Email: toby@establishedwealth.com.au | tiffany@establishedwealth.com.au
Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker
Download E-Book: Establish Wealth E-Book
Australian Credit Licence: 389087
ASIC Authorised Credit Representative Number: 559315

Feel free to reach out if you have any questions or topics you'd like us to cover. Don't forget to subscribe and leave us a review!

Should You Renovate Your Property? Find Out the Secrets to Making Profitable Decisions

Description: In this episode of Established Wealth, hosts Tiffany and Toby explore the exciting and challenging world of property renovation. Learn how to turn a fixer-upper into a profitable investment or your dream home. From understanding the pros and cons to navigating the hidden costs and maximizing return on investment, this episode is packed with valuable insights for aspiring renovators.

Key Takeaways:

Introduction to Property Renovation: Tiffany and Toby introduce the concept of renovating properties, highlighting the potential benefits and challenges. They emphasize the importance of having a clear renovation plan, whether you're aiming to flip the property or create your dream home.

Understanding the Benefits: Discover why renovating a property can be a smart financial move. Learn how renovations can add significant value, allow customization, and provide a sense of accomplishment.

Challenges and Considerations: Explore the potential pitfalls of property renovation. Toby and Tiffany discuss the importance of budgeting for hidden costs, the time commitment required, and the potential for unforeseen challenges that can impact profitability.

Key Renovation Areas: Focus on the most impactful areas of a home to renovate. Learn why kitchens, bathrooms, and underutilized spaces offer the best return on investment. Understand the difference between cosmetic and in-depth renovations.

Creating a Detailed Budget: Learn how to create a comprehensive budget for your renovation project. Toby and Tiffany stress the importance of including contingencies and emergency funds to cover unexpected expenses.

Professional Assessments: Understand the importance of getting professional assessments before starting a renovation. Building and pest inspections are crucial to avoid costly surprises down the line.

Return on Investment (ROI): Discover how to calculate your renovation's ROI and why it’s essential to compare it with other investment opportunities. Learn which renovations typically offer the best ROI and which might not be worth the expense.

Tax Implications: Understand the tax implications of renovating and selling a property. Tiffany and Toby explain the difference between revenue and capital expenditures and how these impact your financial planning.

Real-Life Examples: Hear about Tiffany and Toby’s own renovation experiences, including the mistakes they made and the lessons they learned. Their insights provide valuable guidance for anyone considering a renovation project.

Tips for Success: Get practical tips on how to ensure your renovation project runs smoothly. From creating a detailed plan to choosing the right materials and managing your budget, Tiffany and Toby share their top advice for aspiring renovators.

Contact Us:

Website: www.establishwealth.com.au
Email: toby@establishwealth.com.au | tiffany@establishwealth.com.au
Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker

Download E-Book: Establish Wealth E-Book

Australian Credit Licence: 389087
ASIC Authorised Credit Representative Number: 559315

Feel free to reach out if you have any questions or topics you'd like us to cover. Don't forget to subscribe and leave us a review!

Rentvesting: Unlocking the Secret to Property Wealth While Living Your Dream Lifestyle

Description: In this episode of Established Wealth, hosts Tiffany and Toby delve into the increasingly popular strategy of rentvesting. Discover how renting where you live while investing in more affordable properties can offer the best of both worlds—living your desired lifestyle and building long-term wealth through property investment.

Key Takeaways

Introduction to Rentvesting: Tiffany and Toby introduce the concept of rentvesting and explain why it's becoming a mainstream strategy for savvy property investors. Learn how this approach allows you to balance living in desirable locations with smart property investments.

The Numbers Game: Explore detailed financial scenarios comparing property prices and rental yields in cities like Sydney, Brisbane, and Melbourne. Understand how rentvesting can make owning property more achievable, even in high-cost markets.

Benefits of Rentvesting: Discover the key benefits of rentvesting, including flexibility in living arrangements, the potential for higher investment returns, and the ability to build equity in more affordable markets.

Real-Life Examples: Hear real-life examples and success stories of individuals who have successfully implemented the rentvesting strategy. Learn how they navigated the market and leveraged their investments for growth.

The Role of Buyer’s Agents: Understand the critical role of buyer’s agents in the rentvesting process. Get insights on how they can help you find the right properties, conduct thorough research, and make informed investment decisions.

Dual Occupancy Properties: Explore the advantages of dual occupancy properties, such as duplexes and dual-income homes. Learn how these can enhance your rentvesting strategy by providing additional rental income and maximizing returns.

Navigating Market Trends: Stay informed about current market trends and how they impact property investment strategies. Tiffany and Toby discuss the importance of understanding rental yields, capital growth, and the overall property market cycle.

Professional Advice: Receive expert advice on making the most of the rentvesting strategy, from selecting the right properties to managing your investments effectively. Tiffany and Toby share tips on how to balance lifestyle preferences with smart investment choices.

Join Tiffany and Toby as they provide comprehensive insights into the rentvesting strategy, helping you unlock the potential to build wealth through property investment while living the life you desire. This episode is essential listening for anyone looking to enter the property market or optimize their investment approach.

Contact Us:

Website: www.establishwealth.com.au

Email: toby@establishwealth.com.au | tiffany@establishwealth.com.au

Instagram: Toby_MortgageBroker | Tiffany_MortgageBroker

Download E-Book: Establish Wealth E-Book

Australian Credit Licence: 389087
ASIC Authorised Credit Representative Number: 559315

Feel free to reach out if you have any questions or topics you'd like us to cover. Don't forget to subscribe and leave us a review!