Tax and legal advice

Keeping the balance in a property investment partnership

By Bianca Dabu
balance, investment, investing, coins, financial freedom, investment partnership

Many property investors would attest to the challenges of investing with a partner, but this husband-and-wife team have made it work simply by ‘clear communication’ and the shared desire to achieve financial freedom and stability before it’s too late.

From the very beginning, Courtney has always been the “pusher” between them—her passion inspired by growing up with parents who “bought, sold, and built houses” through the years. In contrast, Brendon tends to be more calculated and risk-averse.

While their opposite mindsets often create conflict, they have successfully created a four-property portfolio by regularly finding time for open dialogue about their goals and motivations.

According to Brendon: “It's all about clear communication, really. We have had some tough times ... and we're sort of at the point where [we ask ourselves], ‘What do we do for the next few years?’ ”

Since starting their property investment journey, they have worked hard to strike a balance through compromise—but not without understanding each other’s sides.

Courtney said: “I would say I back off a lot of the time and it's not me being submissive … I just know I can be very full on in that type of environment, especially if it's something I'm really passionate and excited about.”

“I really need to have some self-talk and say, ‘Okay, I can see his point of view. This is probably the safer option,’ ” she added.

Managing their portfolio

Ever since they have bought their principal place of residence in 2011, the couple has been diligently keeping track of the “ins and outs” of their portfolio in order to make decisions based on data, free from any emotional biases. Courtney, for example, has a habit of checking their bank balance—both for personal and business accounts—more than once a day.

“I like to see it grow, I like to see the ins and the outs … I'm very … control freak,” she said.

They also have a filing cabinet where they keep all documents organised and ready to be pulled out in case they need to review any transaction they have made.

According to Brendon: “In terms of spreadsheets, no, we don't really [have one] ... We just use technology, like apps, to see what values are currently coming in at and what our rental statements [are].”

To help them navigate their way through their property investment journey while they keep themselves busy with businesses and full-time jobs, the couple uses the help of experts and professionals like property managers, mortgage brokers, financial planners, and the like. Their advice for budding property professionals who want to begin a journey with a partner: Understand each other’s goals, motivations, capabilities, and limitations in order to work through any conflict that may arise.

Instead of arguing about clashing mindsets or opinions, strive to strike a balance and find a common ground. For Brendon and Courtney, the desire to create wealth and afford a financially-secure future keeps them on the same path towards success.

“Just get in there, have a go, research, educate yourself ... get a good team around you and meet the right people and just keep learning,” Brendon said.

Courtney shared further: “Start. If you don't have enough money to buy in the Sydney market, go somewhere else. If you don't know how to buy somewhere else, familiarise yourself with some really good help and let them buy it for you.”

“[You have to be] serious about property … [You have to] really want it,” she concluded.

Tune in to Brendon and Courtney’s episode on The Smart Property Investment Show to know more about how they made the transition from being property buyers to being property investors, as well as what they have learned through the properties they bought and how it has impacted each purchase.

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  ["title"]=>
  string(72) "Mortgages in a tighter lending economy and why Brisbane is a good option"
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  string(72) "mortgages-in-a-tighter-lending-economy-and-why-brisbane-is-a-good-option"
  ["introtext"]=>
  string(255) "

Tune in to the latest episode of Property Showcase, the podcast with the inside track on the products and businesses that will help turbocharge your portfolio, maximise returns and make your overall investment experience seamless and stress-free!

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To hear more about these services, make sure to tune in to this episode of Property Showcase!

 Make sure you never miss an episode by subscribing to us now on iTunes!

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Son Pham is the accredited Head of Mortgages at Rethink Financing\/Rethink Investing. He has over 6 years\u2019 experience writing loans, over 12 years in the wealth management industry working for the likes of CBA, AMP and private practice and he is also a licenced financial planner (AFSL 326450). He has multiple investment properties that are cash flow positive which help pay his mortgage on his home and fund his lifestyle.<\/p>\r\n

Son is able to write all types of residential and commercial property loans.<\/p>\r\n

In this episode of Property Showcase, head of mortgages at Rethink investing Son Pham joins host Tim Neary to unpack how an investor should approach getting a mortgage in place with banks tightening down on serviceability.<\/p>\r\n

Hear from\u00a0Son\u00a0about:\u00a0<\/p>\r\n

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  • The pitfalls that he has seen people get into<\/li>\r\n
  • Interest only loans and if that is the way to go<\/li>\r\n
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    Whether it\u2019s building a successful property portfolio or investing in one of their Development Funds, Open Corp can help you through every stage of your investment journey. The team has 40 property specialists who collectively have been involved in over $4 billion worth of property transactions and the acquisition of more than 8000 homes and investment properties.<\/p>\r\n

    In this episode of Property Showcase, director of investment services for Open Corp Michael Beresford,\u00a0joins\u00a0editor of Real Estate, Tim Neary to share why he disagrees that the cooling market means that the best times are behind us.<\/p>\r\n

    In this episode, hear from\u00a0Michael\u00a0about:\u00a0<\/p>\r\n

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    • Why Brisbane is a good investment option right now<\/li>\r\n
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Mortgages in a tighter lending economy and why Brisbane is a good option
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Will Magee has had ambitions to enter into the Australian property market for quite some time, but it has been more than just finances holding him back.  Having been granted permanent residency just two weeks ago, Will is wasting no time and is now in the process of signing papers and finding his first investment property.

" ["fulltext"]=> string(2483) "

In this episode of the Smart Property Investment Show, Will joins host Phil Tarrant to share why he is purchasing his first property in partnership with his brother, discuss the complications that can arise from such a strategy, and unpack the ongoing plan for building a joint property portfolio with his brother.

Will will also share how they approached saving for their first property, why he is taking out the mortgage in his name exclusively, and share their savings plan for the year ahead.

If you like this episode, show your support by rating us or leaving a review on iTunes (The Smart Property Investment Show) and by following Smart Property Investment on social media: FacebookTwitter and LinkedIn.

If you have any questions about what you heard today, any topics of interest you have in mind, or if you’d like to lend your voice to the show, email [email protected] for more insights!

RELATED AREAS OF INTEREST:

From property in Australia to a ski lodge in Japan
Mortgage Trusts, an alternative first step for property investors
Should a real estate title be in one person’s name only?

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A property investment plan years in the making
object(stdClass)#1184 (52) {
  ["id"]=>
  string(5) "18287"
  ["title"]=>
  string(75) "Regional Victoria showing up Melbourne in price performance, new data finds"
  ["alias"]=>
  string(74) "regional-victoria-showing-up-melbourne-in-price-performance-new-data-finds"
  ["introtext"]=>
  string(139) "

Median house prices in regional Victoria outperformed that of Melbourne in the June quarter, the latest REIV figures reveal. 

" ["fulltext"]=> string(2323) "

Median house prices in the regions rose 4.0 per cent to $419,500 but in Melbourne they dipped by 0.6 of a percentage point to $840,000.

The result in Melbourne was due to a 0.8 of a percentage point fall in prices achieved at auction; this was despite a lift of 2.3 per cent in private sales.

Inner Melbourne suffered due to auction prices, where median prices fell by 4.9 per cent to $1,459,000 but it was middle Melbourne that was hardest hit, with a 5.4 per cent drop to $974,500.

Outer Melbourne had a good quarter with the median rising by 0.5 of a percentage point to $681,000.

Apartment prices in regional Victoria grew by 3.7 per cent to $304,500 while the metro media was up by 0.5 of a percentage point to $604,000.

REIV President Richard Simpson said that despite fewer sales, many sectors of the market were performing well.

“2017 was a bumper year and while the trendline has flattened, despite the fall in median house prices in the June quarter, median prices are still up this calendar year for both houses and units, in Melbourne and in the regions,” Mr Simpson said. 

In particular there was been strong growth in regional centres which is probably due to the first-home buyers’ concessions said Mr Simpsons.

“The first-home buyers’ concession has been a boon for regional areas. A new entrant to the property market buying a house at the regional median will pay no stamp duty, while a first home buyer of an apartment in Melbourne at the median price would pay stamp duty of nearly $25,000,” he said.

Mr Simpson said that more prospective buyers are looking towards regional Victoria which is also having an effect in Melbourne.

“Melbourne’s outer perimeter continues to grow. Small increases in the June quarter mean that the median prices for both houses and units have risen over 10.5 per cent from a year ago.

Mr Simpson said moving forward that vendors need more realistic expectations as the highs of 2017 are now over.

“Negative chatter about the future of the sector coupled with stronger lending controls by financial institutions has created some uncertainty and vendors need to be realistic with their price expectations,” Mr Simpson said.

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Regional Victoria showing up Melbourne in price performance, new data finds

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