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The Property Trio

By: Cate Bakos David Johnston and Mike Mortlock
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  • Summary

  • Formerly The Property Planner, Buyer and Professor, our show rebranded in 2023 to The Property Trio.

    Residential property is the only asset class we live in, it is where we raise our families, and it is our most expensive investment, yet property advice remains unregulated. Our objective is to educate time-poor professionals through deep insights from our experts who have provided thousands of Australians with personalised advice and education spanning two decades. In a climate where we are overloaded with information and one size fits all recommendations from the media, well-meaning friends and family and so-called advisers, we will distill the raw truth from the ill-informed.

    So join the Property Planner, David Johnston, The Property Buyer, Cate Bakos and the Quantity Surveyor, Mike Mortlock as they take you on a journey of discovery through the maze of property, mortgage, and money decisions to empower you to create your ideal lifestyle!
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Episodes
  • #265: Tax Time Tips for Property Investors - Avoiding ATO Scrutiny, Optimising Deductions, Repairs, and Depreciation

    #265: Tax Time Tips for Property Investors - Avoiding ATO Scrutiny, Optimising Deductions, Repairs, and Depreciation
    Jul 8 2024
    Got a question for the trio? https://forms.zohopublic.com/propertyplanningaustralia/form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM

    Dave hosts this week's show and Mike is in the hot seat to shed light on some of the items that the Australian Taxation Office, (ATO) is focusing on this year. Specifically, the ATO is honing in on a few key areas that often trip up property investors. What could these be? Tune in to find out...

    From deductible expenses to claims for repairs and maintenance, there are quite a few ways that investors make boo-boo's at tax time.

    Redraw versus offset: What is the difference? And how do borrowers sometimes make a mess of it? Dave shares the six key principles that he and his team share with their clients in relation to this very topic.

    What is the third thing that the ATO is targeting investors for? Mike details the rules around properties that are not occupied full time by tenants, and he also shares an interesting fact that a lot of people wouldn't realise. What is the implication if an investment property has been inhabited by the owner before it becomes a rental property? This applies to over 20% of investors!

    Repairs versus capital improvements... what's the difference? What do people often get wrong? And why does timing matter? Mike sheds light on these questions.

    What did Cate get wrong with her tax depreciation a few years back? Mike enjoys ribbing Cate, but it was an expensive oversight, and one that the Trio don't wish on our listeners.

    Mike shares the five basics that an investor needs to know about tax depreciation, from timing to feasibility, the magnitude of the return to the firm who tackles the depreciation schedule. His simple list of three triggers should give every investor a hint as to whether it's worthwhile conducting the depreciation schedule.

    Cate shares her tips for making tax-time a bit easier, particular for multi-property investors.

    .... and our gold nuggets!

    Cate Bakos's gold nugget: If you're already active in property, your tax affairs are probably starting to get a bit detailed. It might pay to go and see an accountant to prepare your return for you by the time your return is getting detailed.

    Mike Mortlock's gold nugget: We shouldn't be thinking "tax time is coming and now we have to do all this work." What systems can investors put in place to make tax time a bit easier? Mike has some great suggestions.


    Dave Johnston's gold nugget: If you have a property portfolio and you feel that you haven't been getting strategic mortgage advice, it may be a good idea to go and see a strategic mortgage broker. They may even identify some tax deductions that you've been missing.

    Shownotes: https://www.propertytrio.com.au/2024/07/08/tax-time/
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    55 mins
  • #264: The Ultimate Guide to Rentvesting – How to Unlock Property Potential in High-Cost Cities to Create Your Ideal Lifestyle

    #264: The Ultimate Guide to Rentvesting – How to Unlock Property Potential in High-Cost Cities to Create Your Ideal Lifestyle
    Jul 1 2024
    Got a question for the trio? https://forms.zohopublic.com/propertyplanningaustralia/form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM

    Rentvesting is not for everyone, but many people do not even consider it, which may be to the detriment of their finances or lifestyle. Maintaining an open mind to rentvesting and exploring it’s potential will provide you with greater clarity on your pathway forward, whether you take that path or cross it off as an option.

    Dave explains what rentvesting is, and why it's becoming a popular strategy among first-time buyers. From desireable rental locations to growing wealth, there are plenty of reasons why some choose to adopt this strategy.

    Mike touches on the key benefits and he highlights his own rentvesting benefits that he's currently experiencing. Cate covers off some of the reasons why rentvesting is more affordable in capital cities, particularly the lower-rental-yielding cities such as Melbourne and Sydney.

    Dave shares a real-time example in Melbourne's leafy Hawthorn East. He contrasts a mortgage versus a rental property for a make-believe couple and the cashflow differentials are quite a surprise!
    For a first home buyer versus a renter, the difference in monthly cost is more than three times. Was buying always this difficult? Cate dares to ask the question and Dave steps our listeners through the last forty years. But Cate sheds light on the cost of property on the opposite side of town. How do these locations compare, and what is the multiple of the average annual wage these days?

    Mike explains why it's so difficult to get into highly sought-after locations, but he also explains why the number of rentvestors is so limited. And there are quite a few reasons! But how short a tenure is too short for a rentvestor? Tune in to find out.... .

    ... and our gold nuggets!

    Dave Johnston's gold nugget: Carefully consider your own personal situation and goals. Rentvesting can be great, but it's not for everyone. It only makes sense that your property decisions should be informed by your over-arching property strategy. And how will your next purchase impact your future purchases? This is a very important question.

    Mike Mortlock's gold nugget: Mike uses a car analogy. Selecting the right car for the right track is critical. "Asking the place where you want to live to be the investment as well, is sub-optimal for property success."

    Cate Bakos's gold nugget: Cate reminisces about a successful real life client scenario that was based on a well-carved out strategy.

    Show Notes: https://www.propertytrio.com.au/2024/07/01/rentvesting/
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    46 mins
  • #263: Strategies for Early Homeownership, Passing on Money Management Wisdom and Teaching Financial Independence

    #263: Strategies for Early Homeownership, Passing on Money Management Wisdom and Teaching Financial Independence
    Jun 24 2024
    Got a question for the trio? https://forms.zohopublic.com/propertyplanningaustralia/form/GotaquestionforthePropertyTrio/formperma/zYCQAxzE_24CVlDafP1ozyzwtmB-8m1iCNtCTgDvHXM
    Helping versus hindering our children's financial futures... it's all about mindset! Dave hosts today's episode and the Trio enjoy sharing their thoughts about the various ways we can help our children get a foot on the property ladder.

    First homebuyer participation is up a little bit when contrasted against recent years. Dave runs through some of the key reasons that could be contributing to this increased level.

    First home buyer activity bounced up with targeted government incentives during GFC recovery and COVID recovery. Both also had record low interest rates.

    “The series shows only two substantial spikes in first home buyer loans between 2008-09 and 2020-21. These can largely be explained by temporary government incentives for housing purchases. There was a temporary boost to the first home owner grant introduced around the GFC, and a temporary HomeBuilder grant introduced around the onset of the pandemic (which was not specifically targeted at first home buyers, but could be used in combination with the then recently introduced ‘First Home Loan Deposit Scheme’).” (Source: Core Logic)

    The Trio take a walk down memory lane as they recall some of the various first home buyer incentives introduced by our governments since the GFC. Dave canvases the concept of false economy when it comes to incentives and price points that some buyers chase that don't completely align with an optimal strategy.

    Cate delves into some of the issues that could arise when parents' generosity is too great. From a lack of appreciation to jealousy among peers, (and many others), there are some significant risks that need to be considered.

    Cate chats about hers and her husband's approach with their daughter's property deposit savings regime. From a small inheritance from her grandmother a few years ago, followed by ETF share portfolio outperformance of that little nest egg, this seventeen year old has been making regular contributions to her portfolio with her part time job. What is the deal that Cate has struck with her? Tune in to find out...

    The Trio reflect on the great encouragement that their own parents imparted. Thinking about the great lessons and moments of pride during our own childhood can lead to some great ideas that can be paid forward.

    And lastly, Cate talks about some of the non-financial ways that we can make a positive difference for kids these days.

    .... and our gold nuggets!

    Cate Bakos's gold nugget: When you're working out how you can help your kids with their financial future, make sure you let it be their journey.

    Mike Mortlock's gold nugget: Mike reflects on Cate's daughter's $5000 nest egg which was compounding. That 'early win' is a very valuable introduction to good investing.

    Dave Johnston's gold nugget: Getting his children applying some research and selecting companies in a share portfolio from the age of grade six is an exciting plan that Dave has been considering.

    Show notes: https://www.propertytrio.com.au/2024/06/24/helping-our-children/
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    59 mins
Economics Personal Finance
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