Property Podcast
Property Podcast
Jan 17, 2021
Learn About Property Tax Depreciation With Tuan Duong
Play • 35 min
What's in the Episode:
Join us in today’s episode where I’ll be speaking to Duong about his early life and motivations, including his parents encouragement to invest in property. We learn about the Queensland investment blunder he regrets, the best advice he’s ever received in his journey, and much much more!

2:23 - Duong is always aiming for growth in his business.
6:31 - Duong has always based himself in the western sydney area.
7:53 - ‘the first pick is not always the end pick’
9:11 - Duong is grateful for his parents pushing him into saving for property.
11:54 - After dropping out of uni, duong worked with his mum before deciding once again to study. this time he went into construction.
14:55 - Duong took a leap of faith and quit his job in order to put everything into his business.
17:40 - All you need to start up is a telephone.
20:38 - Duong believes in the value of his product, therefore it is easy for him to sell.

Resources and Links:


Tuan Duong:
[00:10:11] ‘If I'm getting this sort of value, and I can't believe how many people don't even know about this’. And I thought, ‘Well, I've got to help others do it. Yeah, why not? Let's unlock the secret to thousands of other investors based in Western Sydney, and probably based all over Australia, like I was, that don't know about this’.
Tyrone Shum:
This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies.
I’m Tyrone Shum and in this episode we’re speaking with successful investor and founder of Duo Tax Quantity Surveyors, Tuan Duong. After being unsure of his path early in life, his parents persuaded him into the world of property which led to him purchasing his first property at the young age of 24. Join us as we uncover the story behind his success!

Tyrone Shum:
Tuan Duong started as a self-described ‘one man band’ back in 2015 and encountered bumps along the road, but is now living a very different life thanks to his business skills, and advice from those closest to him.
Tuan Duong:
[00:00:27] I'm the principal and founder of Duo Tax Quantity Surveyors, which is a property tax depreciation expert firm, we specialise purely on advising on property tax depreciation for property investors who want to maximise the amount of tax deductions possible from their investment property. And that's where my journey comes in. I found a lot of value in this, and hence, it's my now lifelong pursuit to help others unlock these tax deductions that I wasn't aware of a long, long time ago.
Tyrone Shum:
So what does a typical day look like for him?
Tuan Duong:
[00:01:27] The company has grown from a one man band—I was literally a one man band when I started this business five years ago. And so when you start out, I was mostly looking after trying to grow the business in the sense of sales. Also, the technical know-how.

[00:01:45] I was very limited in what I knew about depreciation, when I had started it was quite a new thing to me, as much as I knew the fundamentals of it, but being able to implement technical data into a system that could be replicated to our customers, in a very big scale, I had to grow the business from there with limited resources in terms of trying to build Excel spreadsheets. And then so the next day would be to find more sales to sustain some traction in terms of financial growth.


[00:02:23] And so that was my day-to-day running of the business when I first started. And then it became looking for stuff here and there when I could afford it. But nowadays, we've got a sort of sales support team that helps clients and customers get the most out of what our product offers. So that means I'm training staff in terms of sales, but also technical. And I'm also always trying to bring onboard new staff to join our business, as I'm always trying to be in a growth phase, we're very much in a growth phase of our business. 

[00:03:00] And so always looking for ways to build efficiencies as well into our day-to-day activities. And so that forms most of my day to day, so relatively different to what it was five years ago. But I guess that's the journey of every business owner, evolving to somebody that you're doing the things that you love to do. And the things that you can't do or you find too hard, like bookkeeping, you outsource that. Thank God for that!
Tyrone Shum:
To get to know Duong on a deeper level, I ask him to delve into his personal history, starting with where he grew up.
Tuan Duong:
[00:04:14] I'm a second generation Australian. Mum and Dad had left Vietnam by boat back in 1984. And so by 1986, they had made their way to Australia, and settled here. And I was born in Auburn, back in 1986, which brings me to 34 years young this year. I grew up most of my life in Cabramatta, which is one of the western suburbs of Sydney.

[00:04:48] And so through there, I went to school at a local Catholic school, and I then eventually moved further out west to a suburb called Bonnyrigg where I schooled at another Catholic high school, and that was my journey. And then from there sort of got brought up in the Western Sydney area. I saw a lot of geographical change, for one, but also the economy just thrived from stride to stride over the course of 30 years before I moved down to the area where I'm based now, in the Inner West of Sydney.

Tyrone Shum:
Duong has remained in the Western Sydney area throughout his life, both personally and professionally.
Tuan Duong:
[00:06:31] But certainly it grew and taught me a lot about the demographic of that area that’s ever changing. And I think still today I'm very associated with Western Sydney; I'm in the running for the Western Sydney awards for Business Excellence for two categories. So I'm very much aware of what it is and what's happening in that area, especially with things like the airport, and the ever changing demographic, and it's just expanding at an increasingly rapid rate. And to be honest, I invest in that area for that very reason. I hold property in the West of Sydney.
Tyrone Shum:
He describes his life throughout high school and into his years at university.
Tuan Duong: 
[00:06:44] In high school, I very much had an interest in business and economics studies, that was where I was very much interested in trying to grow myself and understand that side of things. And the reason for that is my mum and dad being first generation here, they are Vietnamese, they ended up starting up Vietnamese restaurants for themselves. So they were always working for themselves for most of my young life. 

[00:07:19] And so I really looked up to them for that, which meant that going from there, I ended up moving into uni. Once I finished school, I went to study finance and mathematics, which was something I thought that I would have interest in, but not to be. And then the funny thing about that is, I hear now the first pick is not always the end pick. And I ended up dropping out of university to work with Mum. And so I said, you know what, I wasn't excited about uni.


[00:07:53] I went to work with Mum at our family restaurant for a short period when we started doing fit outs. And that's where I came across someone that was undertaking construction or project management of our fit out. And I said, ‘what are you studying?’ He said to me, ‘Construction management’. And so I thought, ‘Oh, this is amazing. I can't believe the diversity in his role, and how much of an interesting role he had to play in the fit out and construction process of that’.
Tyrone Shum:
This was a pivotal moment for Duong.
Tuan Duong:
[00:08:25] And I thought, ‘Well, you know what, that’s something I wouldn't mind doing’. So I took that up as my journey to go into construction management. And that's where I sort of got my background to become a quantity surveyor, because part of that degree allows you to be a quantity surveyor. And I had, I would say, limited interest in quantity surveying—it wasn't the most exciting subject at uni. 

[00:08:46] But what I found at a later stage throughout life is when I came across investing in property, which my mum and dad always sort of pushed me towards, and thank God you know, it’s always someone that gives you a shove in the back and says, ‘you’ve got to get going, you can't be spending your money at the club, at the pub or whatever it might be having a good time with your friends, it can only take you so far.’ 


[00:09:11] So that's when I started investing in property and my accountant said to me, ‘Well Tuan, investing in property means you should be able to claim depreciation. And that means going to see a quantity surveyor to help you get the most out of your rental property and claim some depreciation’. I said, ‘Well, I studied quantity surveying in school’. And he said, ’Well, no, you've got to actually go see a qualified quantity surveyor that's got the expertise in providing this type of advice that gives me, the accountant, a report to say this is how much you can claim in depreciation, which then in turn is a tax deduction’. 

[00:09:47] And that was lowering my taxable income each financial year up to 40 years on my brand new townhouse that I bought, and for me it was like, ‘This is a no brainer’. I can't believe how much value I was getting out of it. I mean, I was on a basic $60,000 income 10 years ago, when I graduated, I thought, ‘I've got this rental property. I've got a $15,000 tax deduction in the first year’. And it was like a $6,000, $7,000 refund. 

[00:10:16] I just could not believe it. And then that was a no brainer. Like, ‘If I'm getting this sort of value, and I can't believe how many people don't even know about this’. And I thought, ‘Well, I've got to go help others do it. Yeah, why not? Let's unlock the secret to thousands of other investors based in Western Sydney, and probably based all over Australia, like I was, that don't know about this’. It's been rewarding to meet that many people that I'm able to help.
Tyrone Shum:
Duong started on the construction side of things before he eventually came around to investing.
Tuan Duong:
[00:11:29] University... didn’t quite finish. I ended up working with Mum where she was constructing a new restaurant, this was an age of probably, I think I would have been 21 [or] 22 at that time. Then I went to a four year degree to study construction. I graduated, I worked in construction for five years or four years post grad, I had a couple of years under my belt while I was studying as well.


[00:11:54] So that's where I was in construction, but I wasn't on the quantity surveying side and quantity surveying is, in the traditional sense, being a building economist. And that means that quantity surveyors understand the metrics of construction when it comes to dollars and cents. They're like the accountants of the construction world. 

[00:12:14] So they're independently advising the bank, the Council, the tax office, on what exactly is the construction cost for its certain type of building. Every nut and bolt, working out square metres of concrete, plasterboard, the labour, manpower required, and what that means in terms of dollars and cents for a construction project. And that's what a quantity surveyor would do to provide that independent advice, whether you are a developer or whatnot.
Tyrone Shum:
He considered putting his money towards his biggest passion at the time, until a talk with his family changed everything.
Tuan Duong:
[00:12:39] So when I was growing up, I was doing construction, civil construction, that was building roads, bridges, that sort of work, post grad. And after about four years, it was in that period where I worked with Mum to get into the construction degree. But then while I was working, I then saved up enough money to buy my first investment property. 

[00:13:01] Of course, at that time, I'm such a big passionate person when it comes to cars and things like that. But Mum and Dad said, ‘No, this is not the way. You've got to grow wealth’. And the way to grow wealth—from what they knew, because they were first generation settlers, migrants—they knew that in Australia, property just had its merits when it came to wanting to build wealth. They didn't know about shares, I never really got inspired or really educated about shares and how to buy shares and where to put your money, but property was one of those things and it still is today. 

[00:13:38] I've seen lots of migrants and their children go ahead and buy property and even their parents are buying property. Like my parents, they didn't have a lot of money to buy a property or invest in property, but they knew that, and it's something that they always wanted for their kids.
Tyrone Shum:
Duong describes when he first moved into investing in property with help from his parents.
Tuan Duong:
[00:13:53] So my first investment property, they chipped in a bit, and I chipped in a bit to buy my first rental property. And that's when it became evident to me that this is something you need to do, you need to have. So once I organised the report, bought a property organiser report, it was a no brainer. 

[00:14:11] I decided that you know what, this is really important. Like, I can't believe how much value this adds. So then I… to be honest with you, it's not that easy starting out. You always have a bit of an ooh and aah moment, ‘Should I? Could I? What if?’ Every year as a professional, as most people out there listening know, in your professional career, if you're in that career, you've always got this opportunity to increase your wealth by, you know, that pay rise and that little bit more. 

[00:14:42] And that always helped keep me back. It always kept me back from having that drive to leave work and say, ‘You know what, I need to take initiative here and start my business if I'm really driven to do so’.
Tyrone Shum:
When he quit his job in construction engineering, he began to work harder than ever.

Tuan Duong:
[00:14:55] And so that was at the age of, I would say, 26, I think it was 25 [or] 26, that I bought my property, my first property at 25 [or] 26, which was about $400,000. And it was a Western Suburbs townhouse. It was brand new. And then from there, it took me about two and a half years to really say, ‘You know what, I'm gonna do it’. And so I had a big holiday one time with a couple of mates, came back and said, ‘That's it, I've got to leave’.

[00:15:22] And I was at a good place in my career, but two years of oohing and aahing, you know, wondering, I put that curiosity to rest. And I took that leap of faith, and I decided to fly solo, as they say, and never looked back. But once I started though, I resigned from my construction engineering role. I then went into a quantity surveying firm. And there I actually said to them, ‘Look, I'm going to work for you for free. I just want to work, I just want experience’.

[00:15:56] And so I worked there for a period of, I think, just over 12 months. And I worked for two other employers at the same time. So I was employed in three different jobs in three different quantity surveying jobs. I work for someone on the weekdays, I work for another person, like doing contract work, on the weeknights, and on the weekends, I would be out doing inspection for tax depreciation with one other employer. So I was keen, to say the least. So that's where after 12 months, I said, ‘You know what, I really am eager to start.’

Tyrone Shum:
Duong remembers the time he was just starting out in his business, when he was working from the study in his parents house. 

Tuan Duong:
[00:16:23] The market was so hot back in 2015. I knew I just had to get out there and meet investors. I didn’t know how. I did what they call a survey, I decided to do a bit of a bit of R&D [research and development], if you can call it that. I asked my personal accountant, who was a guy sort of local to me in Canley Heights. I said, ‘Would you refer me to clients if I started doing tax depreciation?’ He said, ‘Of course I would’. And that was, for me, enough for me to say, ‘I'm gonna give it a crack’. 

[00:17:05] So that's how it started for me. And that was back, five years ago, so I would have been 28 when I started. So there were a few years there of oohing and aahing, and then about 14 months of career work inside a couple of quantity surveying firms. And then that's when I started, at the age of 28, to start my business. Now, my business was not all that glorious, it was started in my parents’ house. So they had a little study and that's where I sort of started up. 


[00:17:40] And I'm sure a lot of people can resonate when they're listening to this podcast, working from home thinking, ‘Wow, this is exactly the type of office you can start in.’ You don't need anything more special than this. You just need a telephone. And I remember I created a business card. And I designed it myself, because I was quite savvy with AutoCAD and being able to use Adobe software. 

[00:18:02] So I created a business card, I thought it was quite, you know, beautiful. And I said, ‘I need a landline and make it look professional’. So I said to my mum, ‘Mum, do you need that fax line that we have at home?’ And she goes, ‘No, no, it's all yours, you can go for it.’
Tyrone Shum:
With that, Duong was up and running.
Tuan Duong:
[00:18:15] So I switched that backslide to a landline. And then I put it into the card. And that became my landline for the business and with my phone number as well. And then off I went into some networking events that some friends told me about and I just started selling. You wouldn't believe when you start, the amount of people that you don't know will give you a chance in life. There are so many of them out there that are just willing to give you a chance, if you can just be honest with them. 

[00:18:46] I don't know everything, but I’m making a start. And it's a very important thing. Because you know, it's always that fear of like, ‘Oh, am I good enough? Do I really know what I'm doing?’ Just start, you know, and people will have faith in you. And you will make mistakes, you know, there's going to be reports that don't seem quite right. And the accountant has to come back and tell you this is not right. I've had a lot of that feedback over the years, and even today, I prepare reports. 

[00:19:13] And there's always someone critiquing my reports that are really, really interested in the way it looks or the way it presents. And they say, ‘Oh, would be nice if you had this, if we had that’. And so it's an ever changing process, and you're always growing and that's what helps perfect what you do. And when you only do tax depreciation, you become really, really good at it, especially on the scale that we do it now.
Tyrone Shum:
Duong’s personality and characteristics helped him advance in his career.
Tuan Duong:
[00:20:05] I think it's very suited to my characteristics, because I've never been a salesman. I've been a technician all my life when it comes to construction, cost estimation, working as an engineer… and so having to provide a product that you don't have to truly dig deep to sell, it almost sells itself, it's so natural for my character. And so I felt inclined that this is something that I could actually confidently do without much trouble. 


[00:20:38] And today, as much as I train staff to sell, I tell them, ‘You don't need to sell yourself, it's almost like you just tell them—inform them—of how much value you can offer them in terms of a product. And that will resonate through to them, and it should sell itself in that regard’. So it's not like you're gonna have to sell pens. So very different to a Jordan Belfort sort of spec of sales.
Tyrone Shum:
He had a very hardworking family. I asked him where his drive came from, seeing as in his parents’ generation people, especially immigrants, weren’t as well-educated as they are today.
Tuan Duong:
[00:22:34] I wrote an article about this not long ago, especially for some of the awards that we've been finalists and listed for. It talks about where the drive came from, and it resonates with me, because when my parents came here, education was so limited. The only thing that they know is what others are doing. And when I look at my closest aunties and uncles, they were all trying to save money, buy property. 

[00:23:06] And for Mum and Dad, it wasn't actually buying property, they bought a rental property years ago. And I think it was back in the early 2000s. And they had not done very well out of that rental property. So if anything, it was probably a little bit discouraging for them on that first rental property they had ever bought. And of course, interest rates are high, and all those sort of things that factored into it, it wasn't going their way, and then came 2008 [or] 2009, interest rates started to drop. 

[00:23:34] And this is where my mum and dad said, ‘Well, you know, let's start buying property for our kids.’ So their business was successful to some extent, but not enough for them to have a thriving portfolio of properties. But it was always a passion for them, because they knew that everyone else was doing it, so there must be something with this that people are doing, that they're doing right. 

Tyrone Shum:
Duong’s parents took the plunge, and helped his sister do the same.

Tuan Duong:
[00:23:58] And it could come down to where she bought. I mean, it wasn't the best, or most glamorous suburb that she bought her first rental property. But when she bought, she helped my sister with the first property that my sister bought, it was in a thriving area, known as Canley Heights. And at that time, interest rates were low. And it was just a great place to start. And I think that's when, for us, we were surrounded by talks of property. 


[00:24:27] Everyone's talking about property in late 2000, you know, close to 2010. And when I bought my first property in 2010, that's when it became a thing, and it just sort of was filling our space when it came to it, and friends were buying, you know, and I think it's all to do with the affordability of property, too, being interest rates were lower than usual. And of course, the flexibility of banks, I think at that time was vastly different to the era before that. So in terms of background, it wasn't something that we had a lot of experience in. 

Tyrone Shum:
Despite his lack of experience, Duong kept it up and found that the more he invested the easier it became. 

[00:25:09] But for me, it's been a bit of a learning curve and being able to meet people, even like yourself, Tyrone, that helps, because then you start listening to people. I had a lot of people in our family that were mortgage brokers, our family had a few establishments in businesses there. And it was always resonating about property and how easy it is to lend money at that time. And it only got easier, if anything, for the most part, right. And that's where my journey started.
Tyrone Shum:
He shares his thoughts and experiences when it comes to renting versus buying.
Tuan Duong:
[00:26:05] I've got this mentality of Mum and Dad, who, as much as they rented when they first settled in Australia, from there, they've always bought the houses they live in. They’ve always bought and had this idealism of ‘renting is bad’. But there's always an economy for both. But based on that ideology, I realised that for myself, now, when I buy, even my own businesses, I buy the property premises that I occupy the spacing. 

[00:26:35] So it's almost ingrained in us that it's the way we should be, and now, every time I move out of an office, this is our third office that we've grown into, we've bought every office that that we've occupied, and all because I've got this stigma that you need to owner occupy the premises. And now we accumulate these commercial properties in the process. Not a bad thing at all.
Tyrone Shum:
Duong bought his first property at the age of 24.
Tuan Duong:
[00:27:37] The first property wasn't through a buyer's agent, I wasn't that fortunate. It was sort of like, ‘We know the area’. It's always that, isn’t it? Your property when you start out, you buy somewhere where you're comfortable. And you think there's real good aspects to it. And there's a real opportunity for capital growth. 

[00:27:53] You think this is a thriving area. The demand was crazy in the area of Canley Heights. I'm not sure the listeners know where Canley Heights is. But definitely, it's a very Asian centric community similar to Cabramatta. But it's a little bit more upmarket, in terms of, it has a little bit more space, not as dense, but really thriving restaurants at that time. If you go there today it's just impossible to drive through Canley Vale Road. It's a thriving, thriving little area. 

[00:28:28] And so it ticked all the boxes for us, because we were so familiar with the area we knew it was getting busy, had great restaurants, people wanted to be there, daytime, evenings. And so it was just an amazing place to invest in. So I bought the first investment property in Canley Heights back in 2010. And that's when I started having to delve into, you know, what are things that you can claim, what are the things you can't claim, expenses, what's depreciable. 


[00:29:00] And that's the advice I started getting with an accountant, it was the first time I ever had to engage an accountant. Years before that I used to get my accounting mate to sit next to me and try to tick and flick some boxes on my e-tax, and try to do a tax return. But I think at that stage, once you invest in your first property, that's when it's such good value. And thank God that I did, and obviously through the advice of Mum and Dad, and even my sister who had bought a property the year before, and she said, ‘Look, you need to go see an accountant’. So I did. And that was the best advice ever.
Tyrone Shum:
He expands on how this advice has helped him thrive.
Tuan Duong:
[00:29:31] For me it's a no brainer, whatever that $150 or $250 worth of tax expense, on seeing a tax agent, it provided immense value because then you learn about depreciation, you learned about council rates, you learned about what you can claim on water rates, usage, and things like that. So, things like that. I was very blessed to start that journey. And from 2010 I didn't buy any more property until 2015 when I started my business, and I wasn't very savvy and obviously in that five years I understood capital growth and then I refinanced my house, and my first rental property to buy my second. 

[00:30:09] And this is where I have to sort of slow down to explain that the second property I bought was through a more of a project marketing company, I bought an apartment in Queensland. And now looking back, it's probably one of my downfalls of investing in property. And I was taken to a property seminar, and I was sold a dream. I'm sure many people out there can resonate with this. And so I made a bit of a mistake where I bought that property in 2015. And I sold that property in 2019. At a bit of a loss. 

[00:30:48] I sold it for exactly what I bought it for, but of course, there's things like stamp duty that you have to consider, and holding costs over the three years. And that took a couple years to build, but by the time it was built, it was something I just didn't want to let go of. And for other people that bought in the same premises that I knew, they were all about the hold and hold, and see where it goes. But it wasn't for me. For me, I thought, you know what, it's equity that I could release. 


[00:31:18] And I could do better things with. And I ended up doing exactly that. And you've got to make that call sometimes, I think, when you're investing in property, and sort of sitting and holding seems to be easy to do, but truth be told, that money can always be better spent elsewhere. And that's exactly what I did. And I now have a couple of investment properties which I ended up buying in 2019, out West, in areas like Austral, and Jordan Springs, I really truly believe in these areas, because Sydney has all the right recipe for growth. 

[00:31:53] And the demand for property and the demand for land in Sydney I feel is ever changing. And out of just the last 12 months, I've seen, I think more than 10% growth in just these areas. And it's taken me almost a year to build growth. And my first investment property was brand new. And so I had this stigma that I want to buy a brand new because of the low maintenance. And in my position of being a business owner, I don't want to be dealing with problems such as you know, mechanical, or whatever it might be, drainage issues. 

[00:32:30] So I've just bought brand new properties from the get go. And they seem to be very, very good in terms of having to spend time on it. And having a property manager to manage it without any sort of intervention from me, which is fantastic for me. And having that growth of 12 to 15% over the last 12 months has been amazing. Probably a little bit exaggerated because of, you know, the builders grant now. And everybody's demanding properties that are brand new, especially house and land. It's just crazy. 

[00:32:59] But that's not a bad thing. You know, people want to get ahead in these western regions. I grew up out west in Cecil Hills. That’s where I ended up living with Mum and Dad for the latter part of my life being with them. I grew up in Cecil Hills, which is sort of surrounded by Badgerys Creek, Austral. And that's the reason why I've invested there because I really believe that that community around there, they are all about that house and land, owning your own home dream. 

[00:33:27] And areas where people are owner occupiers, I think are great for investment because people aspire to live there. And so there's people that want to rent there, they're willing to pay rent to be there. So that's what I found. And for what is a strange economy I finished construction on one of my premises in just this year, around mid-year. And I was able to get tenants there in the first couple of weeks after an occupation certificate was received, which means despite the economic conditions, it's still got huge demand, which is great.
Tyrone Shum:
Thank you so much to Tuan Duong, our guest on this episode. If you’ve enjoyed hearing Duong’s story, join us next time, where we hear more about his investment regrets. 
Tuan Duong:
(1:50) And I think I wish I had known about things, like the Property Investory Podcast, at that time, you know, there were those independent places where you could get advice, and not have to make that mistake.

Tyrone Shum:
We learn about his business in its early stages.

Tuan Duong:
(4:31) So very lean, but very fortunate, to come across people that will allow that and you know, you've gotta start somewhere, it wasn't the most glamorous office, you know, it had a few bug issues.

Tyrone Shum:
Duong shares his successful investment stories and explains where he went right. 

Tuan Duong:
(8:35) I bought that property for $400,000. It's probably worth double that now, the duplex I bought.

Tyrone Shum:
And that’s next time on Property Investory. See you then! 
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Philip Muscatello
SFB & Equity Mates - Mixed Martial Podcasting
It was seriously good fun meeting the Equity Mates. This is a special simulcast episodes released jointly on each other's channels. If you're here because you heard the then check out some of my back catalogue here - Otherwise it felt good to share our investing "moments". I hope you enjoy. "The Australian stock market is 2% of the global market. For every great Australian company, I can name an even better international equivalent. When Bryce and I started investing, international shares were difficult. They were really expensive and most of the time, you just couldn't access most markets. And what we've seen over the last even just five years is accessibility and costs have come down so much, and it's now just as easy to buy an American share or European share as an Australian share. And so, for us it feels like a no brainer. If we look around, you know, in this room what we're using, but more generally what we use in our lives, it's Apple computers, and we search on Google, we use Microsoft products. We want to invest in what we know, and more and more of what we know are overseas listed companies." Alec Renehan. Sharesight is the best portfolio tracking tool in the known universe - and they are pleased to extend a SPECIAL OFFER to listeners of this podcast: Save 4 months on an annual premium plan! Click here and sign up now for a 7 day free trial. Shares for Beginners is for information and educational purposes only. It isn’t financial advice, and you shouldn’t buy or sell any investments based on what you’ve heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn’t replace professional advice regarding your personal financial needs, circumstances or current situation. Thanks to Christopher Soulos for music production out of Garlic Breath Studio Remember music flows when the money don’t.   See for privacy and opt-out information.
35 min
Stuart Wemyss
Steppingstone strategy: how to buy your dream home
If the recent property price growth predictions become reality over the next couple of years, more homeowners may become ‘priced out’ of their desired location. What might be affordable today, could quickly become unaffordable, as prices can rise quickly. Sometimes it’s not possible to buy your dream home in one fell swoop. But do not despair. A steppingstone strategy could be the solution. Buying a dream home has always been a struggle, embrace it Property has always seemed expensive. I bought my first property 23 years ago for $150,000 and it was a big deal. It was a stretch, financially. It was a dump that needed renovating. Getting onto the property ladder and buying your dream home will take work. Some sacrifices. A little bit of hustling. But that has always been the case. Focus on the solutions, not the problems. Focus on building your deposit/equity If you are income-rich but asset poor, you need to build equity to extend your purchasing power. That equity could come in the form of cash savings/deposit or equity in an existing property. If your income earning capacity is limited, then accumulating more equity reduces the amount you need to borrow and as such, you are closer to being able to buy your dream home. Either way, your sole goal should be to build equity. How to implement a steppingstone strategy A steppingstone strategy involves buying an owner-occupier property with the sole aim of accumulating as much equity as possible, as fast as possible. Then, selling that property and using the equity to upgrade to a superior property. And continuing to do that until you have attained your dream home. There are three key steps to this strategy. _Step 1: Pick a location that has attractive short term growth prospects_ Buying a property in a location that is popular and is enjoying rising property price momentum can do a lot of the heavy lifting for you. The goal is to create equity as soon as possible. Therefore, it’s not as important to form a view about a given location’s long term growth prospects, unlike when buying a pure investment property. You just want to form a view about whether the price momentum will continue in the short term. Typically, locations that are gentrifying will exhibit above average growth rates. Gentrifying suburbs tend to have similar themes such as a changing demographic, increased renovation activity, new infrastructure and/or amenities that enhance the community feel (liveability) of the location and so on. Whilst it’s important to not buy at the peak of the market i.e. after prices have risen as much as they will, it is equally too risky to try to pick the next growth suburb, because you could be wrong. Essentially, you want recent evidence that the rising demand for the location is generating price growth. And that prices still have some future upside. _Step 2: Buy an older house with scope to manufacture equity_ Often, but not always, it is best to buy a house instead of a townhouse, villa unit or apartment. Firstly, houses tend to have proportionately more land value. Secondly, houses tend to offer more scope to improve their overall value e.g. renovation of bathrooms and kitchens, landscaping, adding a room/living area and so on. This is called manufacturing equity when the property’s value appreciates by more than the cost of the improvements made. Older houses (e.g. built pre-1970’s) offer better opportunities than newer ones, because there tends to be greater scope to make improvements, such as adding an additional bedroom, adding living areas or make it ‘open plan’. The risk of unexpected cost overruns is less likely if you stick to making cosmetic improvements i.e. no structural changes. It is also important that the finished product is aimed at the typical buyer in that location – it doesn’t have to appeal to your tastes – just have wide appeal to prospective buyers. It is important to note that suburbs closer to the CBD tend to offer better growth prospects. Therefore, start with the blue-chip suburbs and then move further out until you find a location that allows you to buy a house that fits within your budget. Sub-dividing a large block and constructing a second dwelling can also be a great way to manufacture (build) equity. It’s important to obtain tax advice from an experienced tax agent before you undertake such a project. _Step 3: Occupy the property to avoid CGT_ Buying, renovating and selling property is not a costless exercise. You pay stamp duty when you buy and agent fees when you sell. The last thing you want to do is make a donation to the ATO, as it will eat into your financial gains. Therefore, if you can nominate the property as your main residence, it will exempt you from paying capital gains tax (CGT). It might be difficult to occupy the property for the entire ownership period, especially if you need to complete significant renovations, but that should not prevent you from continuing to claim it as your main residence[1]. In summary Buy a house that is located in a suburb that is growing in popularity, as close to the CBD as your budget will allow. Select a property that has plenty of scope to add value e.g. renovate. Hold it for 2 to 7 years (as short as possible) before selling and moving closer to your desired (dream) location. Beware; this is a higher risk strategy Warren Buffett says risk comes from not knowing what you’re doing. This strategy will require a lot of homework including speaking to various property professionals. You must upskill yourself so that you can identify the best property prospects. It is still worth engaging a buyers’ agent as long as they have experience in buying the types of property in the locations you are targeting. In addition to upskilling yourself, you will need to assemble an experienced team including a mortgage broker, building inspector (you don’t want any nasty surprises), possibly a builder and maybe also financial advisor. Advice that makes money, pays for itself. The key assumption here is that the market will move in your favour. Of course, there is a risk that this might not happen, and you could be caught living in this property for longer than expected. Can your family help you? If you have enough income but don’t have a sufficient deposit, and alternative to the above strategy is to use a family guarantee, which I have discussed previously. Risk and reward I acknowledge this strategy is more hands-on and won’t suit everyone. However, there cannot be any reward without taking some risk and working hard. It might take you a few properties (steppingstones) and years to get to your desired location, but once you’re there, you and your family will enjoy the benefits for decades to come. [1] Of course, this is a generalisation, and you must obtain personalised tax advice.
15 min
The Elephant In The Room Property Podcast | Inside Australian Real Estate
The Elephant In The Room Property Podcast | Inside Australian Real Estate
Veronica Morgan & Chris Bates
Ep 164 - Marty Sadlier | Australia’s underinsurance epidemic: 83% underinsured!?
Marty Sadlier has over 19 years experience in the building and construction industry, he is the co-founder of MCG Quantity Surveyors which is recognised as Australia’s fastest growing quantity surveying firm; working with big names in business like McDonalds, CBA and Westpac. In this episode Marty breaks the news to Australians about the widespread building defects, the unbelievable underinsurance across Australia and what property investors should be doing to safeguard their biggest asset. Here’s what we covered: * How underinsured are Australians? * How to work out how much you should insure your house for? * Are online value calculators accurate? * How does extra costs such as demolish get lost in property owners calculations? * Can you insure depreciating buildings? * What is the difference between a valuer and a quantity surveyor? * Do apartment 5 year valuations increase their premiums? * How many buildings have flammable cladding? * Are things improving around building defects or is it getting worse? RELEVANT EPISODES: Episode 138 | Simon Kuestenmacher Episode 121 | Bart Mead Episode 113 | Dr. Nicole Johnston GUEST LINKS: Fire Cladding Blog Common building defects Blog Final NSW Government Report into Building Standards and Quality Blog HOST LINKS: Looking for a Sydney Buyers Agent? Work with Veronica: Looking for a Mortgage Broker? Work with Chris: Send in your questions to: EPISODE TRANSCRIPT: Please note that this has been transcribed by half-human-half-robot, so brace yourself for typos and the odd bit of weirdness… This episode was recorded in February 2021.
1 hr 12 min
Property Developer Podcast
Property Developer Podcast
Justin Gehde
78 – Property development lessons to grow your property business
Decades of experience have taught Rod Fehring a thing or two about property development, and he shares some of the lessons learned along the way about how to create a successful property development business. In this episode we explore those lessons, the standout projects and the future of Australian residential property. Project update - Project 1 - framing well underway, couple more sales, 75% sold - Project 2 - assessing build quotes, readying to make a decision on who to appoint, about to launch marketing campaign Training Reminder If you are interested in discovering how ready you might to become a property developer, then head over to and check out the quick self assessment tool. We also have the mentoring program that is available to help guide you through your first project, so email if you would like further information. Social links If you would like to see how my projects are progressing, I do post regular video updates on the show’s Facebook and Instagram feeds, along with other news and tidbits and they are both under the handle of Property Developer Podcast, so be sure to check them out. Property Developer Podcast Facebook - Property Developer Podcast Instagram - Property Developer Podcast LinkedIn - Today's Guest is Rod Fehring In episode #76 [] we covered Rod's career, how he went from humble public servant to head of one of Australia's largest public property development companies, Frasers Property before he retired in 2020. In the follow up conversation, we cover memorable projects, lessons learned, social housing, future of Australia housing markets Links Frasers Property Australia –
1 hr 37 min
The Michael Yardney Podcast | Property Investment, Success & Money
The Michael Yardney Podcast | Property Investment, Success & Money
Michael Yardney; Australia's authority in wealth creation through property
Ditch the Debt and get Rich with Effie Zahos
Navigating the world of personal finance can be overwhelming, even for an adult who has quite a bit of experience in the working world. Yet with some smart planning, a good strategy, and an understanding of the basics you should be able to develop the money-management skills you need to get your finances under control. And that’s what I discuss in today’s show with Australia’s leading finance columnist Effie Zahos. While many people listen to this podcast because they’re interested in property investing, money management is a critical part of any type of investing, and especially real estate investing. You need good money management to save your first deposit and once you own a property or two money management is even more important. So don’t let the financial world intimidate you. You may not have been taught much about finances, but I believe that 80% of personal finance is not financial education, but financial behaviour. If you can modify your behaviour with your finances, you can modify your financial future. And even if you don’t have money problems, I think you’ll enjoy my chat with Effie today as we discussed her new book and some lessons that we should be teaching our children and grandchildren. And of course, I will be sharing my regular mindset message with you. Ditch the Debt and Get Rich The Covid-19 pandemic impacted just about every Australian. Some people manage to cope well financially – others did even better financially turning lemons into lemonade, however, many Australians ran into financial difficulty with some only managing to stay afloat by raiding their super or putting a pause on their debt It was just another example of the rich getting richer and they did so by understanding the way money and finance works. Now you know one of the aims of my podcast and my blogs is to make more and more Australians financially fluent and help them get control of the finances. So, I was pleased to hear that leading Australian finance commentator and author Effie Zahos has just published a new book called Ditch the Debt and Get Rich. Effie Zahos is one of Australia’s leading personal finance commentators, with more than two decades of experience helping Aussies make the most of their money. She’s a regular money expert on Channel 9’s Today Show and on radio around Australia and was editor of Money magazine and is now Editor-at-Large at Canstar. Some of the subjects that Effie and I discussed * Effie’s journey and why she believes it’s so important to be the best financial version of yourself and learn the right things to teach your kids about finance. * Why more Australians aren’t wealthy and how they’ve become an instant gratification society. * The importance of mindset in developing wealth. * Money personalities – The animal traits that correspond to how you deal with money: Peacocks, Squirrels, Sloths, Owls, Ostriches * The problem of buy now, pay later, and how to be more aware of the tricks retailers use to get us to spend. * How to break the cycle of living payday to payday by no longer setting yourself up for failure. And how to put yourself on a bare-bones budget to catch up. * Common money mistakes. * Debt repayment strategies. * How to think rich in order to become rich. * How children learn financial literacy from their parents. * Some of the lessons Effie has learned over many years writing and speaking about finance. * It’s not what you earn that counts it’s what you spend. * Compound interest can make you a millionaire. The great Albert Einstein once said: "Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it". * Learn to say no * I am my best investment * I will continue to make mistakes * love your superannuation fund * Set your savings on autopilot * Have a plan and stick to it * The people who will most benefit from Effie’s new book: savvy investors, people who need a nudge, and people who want to be a better financial version of themselves Links and Resources: Michael Yardney Metropole’s Strategic Property Plan – to help both beginning and experienced investors Effie Zahos’ new book – Ditch the Debt and Get Rich Shownotes plus more here: Ditch the Debt and get Rich with Effie Zahos Some of our favourite quotes from the show: “There’s a whole science behind behavioural finance, and that’s why I think reading your new book Ditch the Debt and Get Rich is important.” – Michael Yardney “Some financial discipline early in life will allow people to have those enjoyments later on.” – Michael Yardney “The gap between what you gain and how much you avoid offsetting the gain is the figure that matters the most.” – Michael Yardney PLEASE LEAVE US A REVIEW Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
46 min
The Buyers Bible
The Buyers Bible
Amy Lunardi
30 What happens after you buy With Victoria Devine
Woohoo! You’ve bought a property, congrats! So…. now what? In today’s episode I’m joined again by the fabulous Victoria Devine, who recently went through the home buying journey and settlement process herself. We explore what happens between purchase and settlement, including making sure you get the contract off to the relevant people, paying your deposit, sorting insurances (very important!!), final inspections and settlement day. Plus, once you settle, you have the awesome responsibility of paying off a mortgage (yay). Victoria and I chat about loan minimisation strategies, utilising your offset account and making sure you’re always getting the best interest rate. PS this is the last episode of The Buyers Bible, thank you SO much for joining us!!! Keep an eye out for my new podcast The Property Playbook (with Victoria Devine) :) Do you have a burning property question you’d like answered on the show? Connect with us on instagram @thebuyersbible, we’d love to hear from you with questions, thoughts and feedback. Don’t forget to head to our website for our show notes, and to download your free first home buyer checklist. Information provided in our podcast is general in nature and does not constitute financial advice. Every effort has been made to ensure the information is accurate, listeners must not rely on this information to make investment or financial decisions. Theme music: Lioness (Instrumental) by DayFox Free Download / Stream:
29 min
my millennial money express
my millennial money express
SYMO interactive
3 ways to prevent burnout 🥵
Burnout is all too common and it's time we ended it! In this episode I chat with Vanessa Bennett from Next Evolution Performance about how we can finally end burnout, touching on: 👉🏿managing mental energy - understanding the concept of energy credits 👉setting boundaries in your life and with certain people - not being afraid to say no 👉🏼personal accountability - taking ownership of your life, boundaries and choices To access Vanessa's course, 'The Neuroscience of Getting More Done', head to and use the code M3 (case sensitive) for $75USD off! Have a listen to Vanessa's previous episode around peak performance: Check out The Glen James Spending Plan - use coupon code "m3x" with the link below to get this for under $50... save $20) For podcast resources, links to our stuff, disclaimers & warnings about this episode + more... check out: 🛑 This podcast is for education and entertainment purposes. It is not intended as a substitute for professional financial, tax or legal advice. Any advice is general financial advice only which does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do choose to buy a financial product read the product disclosure statement and obtain appropriate financial advice tailored to your needs. We may discuss products, services and answer listener questions on this video for entertainment & illustration purposes only. We may change the name of the questioner for anonymity. It is impossible to give you personal advice on an entertainment podcast as we do not know the details of your personal financial situation. While we do our best to provide accurate information, we accept no responsibility for any inaccuracies that may be communicated in this podcast. SYMO interactive Pty Ltd, the publisher of the podcast, is an authorised representative of MoneySherpa Pty Ltd which holds financial services licence 451289. Please read our Financial Services Guide located at This podcast is intended for residents of Australia. We acknowledge the darkinjung people, Traditional Custodians of the land on which our studio sits, and pay respects to their Elders past and present. We extend that respect to Aboriginal and Torres Strait Islander peoples who may listen to our podcast.
17 min
Nucleus Investment Insights
Nucleus Investment Insights
Nucleus Wealth
4.08 Inflation: Mirage or Oasis? | Nucleus Investment Insights
Nucleus Wealth's Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen and Head of Advice Tim Fuller discuss if record low interest rates, pandemic level monetary and fiscal stimulus along with surging asset prices translate into long term inflationary pressures View the presentation slides: On the agenda: Inflation factors: commodity prices, supply disruptions, structural & cyclical factors Deflation factors: wages. China & expectations How to invest in inflation To listen in podcast form click here: Get an obligation-free portfolio recommendation to see how we would invest for you: Learn more about the hosts: Find us on social media: Nucleus Wealth is an Australian Investment & Superannuation fund that can help you reach your financial goals through transparent, low cost, ethically tailored portfolios. To find out more head to The information on this podcast contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Damien Klassen and Tim Fuller are an authorised representative of Nucleus Wealth Management. Nucleus Wealth is a business name of Nucleus Wealth Management Pty Ltd (ABN 54 614 386 266 ) and is a Corporate Authorised Representative of Nucleus Advice Pty Ltd - AFSL 515796 #inflation #investing
1 hr 16 min
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