Property Podcast
Property Podcast
Nov 30, 2020
How Serving in the Military set Lachlan Vilder up for Success in Property Investing
Play • 33 min
Join us in this episode of Property Investory to hear how Vidler’s role as logistics warfare officer in the Navy, equipped him with the skills to rise in the world of property investing. You’ll learn how his unconventional childhood has shaped who he is today and given him the confidence to take on anything!

Resources and Links:
  • Atlas Property Group
  • Royal Australian Navy
  • Sydney, NSW
  • Brisbane, Queensland
  • UNSW
  • Deloitte
  • Accenture

Lachlan Vidler (00:00):
For somebody in property, whether you're a developer or an investor, you're dealing with people and their emotions. You sometimes have to deal with really time sensitive issues and those skills that the military teaches you are so invaluable in being able to deal with that and not go crazy pulling your hair out...overtime. 

**Intro music**

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 Lachlan Vidler, director of Atlas Property Group and an active investor with a wealth of knowledge. We hear about Vidler’s time in the Royal Australian Navy and how he made the switch to management consultant for some huge global names. We also learn how he used his skills gained in the Navy to succeed in property.

**End intro music**

**Start background music**

Tyrone Shum:
Vidler started out his career as a warfare and logistics officer in the Navy, serving for six years. He then made the move into management consulting where he worked with some big global names and this would ultimately lead him into the property investing space.

Lachlan Vidler (00:23):  
I'm the director of Atlas Property Group, which is an exclusive buyer's agency and today I spend most of my time running my buyer's agency as well as focusing on my own property portfolio.

Tyrone Shum:
A typical day for Vidler involves a lot of work surrounding his buyers agency. He considers this a full-time job in itself, especially since it is still in its early stages as it was founded in 2019.

Lachlan Vidler (01:05): 
It takes a lot of time and effort and although my day varies depending on a number of factors, I’m usually chatting with clients and with agents, prospecting with future clients or future business partners and of course like any good job, lots of admin.

Tyrone Shum:
Lately I’ve been learning more about AI and the future of technology and how much it has assisted us but there’s just so much stuff that people don’t see behind the scenes, like admin… it’s always admin. Whether it’s chasing emails, filing paperwork or signing contracts, it just never stops. I think if I could have a full time assistant that could just focus on admin, they would be kept busy all of the time.

Lachlan Vidler (02:19):  
I couldn't agree more. AI and technology has helped out so much to the point where we can sign almost all of our documents online. I wonder how much time we’re actually saving by having everything digital, but then it also creates more work because there’s so much more content. I'd love to have a personal assistant come in and be able to help out with the endless admin.

Tyrone Shum:
His upbringing differs from many as his parents were quite big in business. This meant that Vidler moved around a lot as a child, as often as his parents got new jobs.

Lachlan Vidler (03:37):  
I think I ended up going to 10 primary schools before year five and that was in Sydney, Melbourne, Brisbane and Auckland, New Zealand. I went to a couple of those cities more than once as well.

Tyrone Shum:
Wow, how does that work? Does that mean that halfway through the school year you'd actually leave and move to another school?

Lachlan Vidler (04:15):  
Yeah, sometimes I'd leave to go to Brisbane on a Friday and then I'd be starting school on the Monday in Melbourne or Sydney. 

Building Character

Tyrone Shum:
Vidler followed in his father’s footsteps unintentionally, which meant that he too moved around a lot for business and found it to be character building.

Lachlan Vidler (04:30):  
He was in a senior management role in a number of different companies. Sometimes these moves were brought on by him getting a promotion or it might have been that he changed businesses. This was also the case with my mother. We were constantly moving for a lot of my early years and I look back at that time and think back to being that kid who was moving all the time and losing his friends. 

You get a bit unhappy and sad about it, but it taught me so many great skills about being personable and how to be open to making new friendships and relationships. To be honest, it has probably helped out so much in the work that I do now.

Tyrone Shum:
Yeah, I can understand. I didn't move as much as you did, but I did move three times when I was in primary school, so I can relate to that. The change in stability was very confronting, but I guess in the bigger scheme of things it was a valuable experience. When I look back at it, I did make a lot of new friends and you learn to adapt extremely quickly to those different environments, especially when you're young. I don't know what it would be like for my kids now because any change for them, they just throw tantrums. 

Lachlan Vidler (05:39):  
I think a little bit of healthy resilience is great for kids. Yeah, I don’t think I would wish those 10 moves on anybody.

Tyrone Shum: 
After years of moving around the country, Vidler’s family eventually decided to settle down. In the years to come Vidler would experience a similar lifestyle in the Navy.

Lachlan Vidler (06:00):  
Although I hadn’t necessarily grown up in Sydney it was good to be back around family members and some of the friends I had had prior to leaving. A lot of people love Sydney, and I certainly love it too, so it was a great place to finally have the waters calm.

Tyrone Shum:
This change in lifestyle was brought on by a lull of sorts in the business world. Vidler’s parents had found roles that they were able to settle into and were less affected by the erratic nature of business.

Lachlan Vidler (06:44):  
I think my parents had just gotten to the point where they said, ‘Not only are we sick of moving, but we’re sick of moving the kids’, and decided that it would be for the best to have some stability back in all of our lives. 

Tyrone Shum (07:11):  
I can totally understand from a parent's point of view as well because it is quite challenging moving with kids. I’ve moved a few times already with my kids and my child who's now six, has probably moved houses about four times in the last six years. Being a rent investor, sometimes places just decide that they want to sell the property so it's going to be a long term tenancy. So it’s those external impacts that move you around I guess. Did you jump straight into the workforce after high school or did you go the university route?

Lachlan Vidler (07:57):  
I actually did both. When I joined the Navy at 18 years old, I was studying at the same time. I really enjoyed it and I was young so I was happy to be out there working also.

Why the Navy?

Tyrone Shum:
When it came time to enter the workforce after high school, joining the Navy just felt like the right choice for Vidler. The valuable lessons and skills that he had learnt as a child would aid him in this role.

Lachlan Vidler (08:25):  
I never wanted to dig holes and knowing that would be something you were likely to do in the army, I knew it wasn’t for me. I didn't know whether I wanted to be a pilot or not and if you don't fly planes in the air force, what else are you going to do? After we settled down in Sydney I loved being by the water and I always enjoyed it when we would go to Queensland for holidays because we would spend all of our time at the beach. When I thought about these things the Navy made the most sense to me and so I jumped on that.

Tyrone Shum:
The application process for Vidler when joining the Navy didn’t largely differ from other regular jobs. However, because he was signing up to become an officer, it certainly made it a lengthier process.

Lachlan Vidler (09:09):  
It’s like most jobs, you go in and you have an interview, you do an aptitude test which will give them an idea of what jobs you may or may not have the capacity to do. Then from the jobs that you get told you can do, you then pick the ones that you want to do further interviews for or further testing. This leads to more maths testing, more physics, more coordination, things like that. After this you keep interviewing like a normal job process, but because I was joining as an officer, I had to do my last interview in Canberra. 

So a group of us got flown from Sydney down to Canberra and we sat on a board which had three Senior Navy officers in front of us. We were all 16, 17, 18 year old kids and they just drilled us with questions for an hour to an hour and a half. This was to understand what we were about, what we're motivated by, why we were looking to join the Navy and then you were either recommended or you weren't.

Tyrone Shum:  
That must have been quite intimidating, especially at that age. I can see it being a completely different experience for 30 or 40 years olds, but when you’re that young it’s almost like you’ve got a roundtable of parents interrogating you.

Lachlan Vidler (10:32):  
Oh, absolutely. But even chatting with you now, I sort of think back on it because it was so many years ago, I have to credit some of the ability to do that from moving around so much. I could go into a room, even at 17 or 18 years old and be able to talk with people that I didn't know and that might be 20 or 30 years older than me. Obviously you still feel uncomfortable, but I think I probably felt more comfortable than some of my peers who might not have had the opportunity to develop some of those skills as much as I had.

Tyrone Shum:
Yeah and it really does go to show because I think when you’re tested like that, considering you travelled so much at a young age, you realise just how much you’ve developed all of these great communication and social skills that really help you in the long term. Why did you choose to become an officer, considering it was a much more rigorous process?

Lachlan Vidler (11:29):  
So in the military you've usually got two pathways, you join as an enlisted person or you join as an officer. Very broadly speaking, the most junior ranked officer is technically a higher rank than the most senior enlisted person. So you can imagine that you're going to have people like I was at 18 years old, who would technically have a higher rank than people who might be 40, 50 or 60 years old. 

That's why the application process is a little bit more intense for officers, because they want to make sure that they're getting people who can lead or have the capacity to be able to learn how to do that, and have the ability to learn how to do it. So that's the main difference between an officer and an enlisted person. 

The reason why I wanted to go down that pathway was because I always enjoyed leading in sports or at school. I always felt I could communicate quite well and speak to people and I liked being able to be someone who made decisions and wasn't necessarily someone who always had to follow as much. That’s a very simple explanation about the dynamics of rank in the military. But for me, that was why I made the decision to go down the officer pathway, as opposed to the enlisted pathway.


Tyrone Shum: 
Coming up after the break we hear about how Vidler completed his masters in finance while in the Navy out at sea.

Lachlan Vidler:
I was doing a little bit of study for my finance masters and I was actually deployed in the Southeast Asia region... It's still quite safe and everything's fine but there are a lot of ships from different countries up there that feel that they deserve the rights to some of the ocean. 

Tyrone Shum:
His role as a logistics officer...

Lachlan Vidler:
I think most people will probably have an understanding of what this role entailed, but simply put it's dealing with all the moving parts on the ship. 

Tyrone Shum:
His switch to management consulting…

Lachlan Vidler:
Consulting was such a natural fit for me because you weren't doing the same job for 12, 18 or 24 months. There is a lot of variation and you get to meet such interesting people.

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

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What skills did Vidler gain from the Navy?

Tyrone Shum:
Vidler explains that in order to become an officer in the Navy he needed to have completed a few criterias.

Lachlan Vidler (13:01):  
Many people think of joining the military as a trade, but I could never have started that job in the Navy while I was still in high school. I didn’t officially join until after I finished the HSC.

Tyrone Shum:
Wow, there's so much involved in this. I've spoken to at least three people who I’ve had on the podcast, who have been in the military and they've had some amazing stories to tell. A lot of them have also been very successful in what they do because of the discipline they learnt in the training of the Navy or the army. You can see that it definitely impacted how they've been able to live their life as well, especially when getting involved in the property investing and developing space. 

There's so many moving parts in their training and careers in the military that have helped them to be able to achieve the success that they've had. In most cases that I’ve seen they've actually been able to perform at a much higher level than most of us has, because I think that training is so intense that it helps you get those skills. Did you find that too when leaving the Navy?

Lachlan Vidler (14:32):  
Yeah absolutely, but I want to make clear It’s certainly not like in the movies where we’re all trained like Navy SEALS. But when I look back on a lot of the training and a lot of the experiences that I had, I can trace so much of my success back to what I learned there. From my perspective, you're not always going 100% in the outside world or even in the military. 

Something that the military is really good at training and teaching you how to do is when you have to turn on and raise your level of performance, or take on those really high levels of stress. You learn really great methods of dealing with [these high stress situations], how to break down problems, how to think up solutions. For me, I think those skills are probably the biggest things that I've taken away from my career in the Navy. 

For somebody in property, whether you're a developer or an investor, you're dealing with people and their emotions. You sometimes have to deal with really time sensitive issues and those skills that the military teaches you are so invaluable in being able to deal with that and not go crazy pulling your hair out...overtime. 

Becoming a logistics officer

Tyrone Shum:
Although Vidler enjoyed his time in the Navy and values the training and experiences he gained throughout, he always intended to leave at some stage. 

Lachlan Vidler (16:01):  
I originally joined as a maritime warfare officer and the easiest way to describe that role  is they're the person who drives the ship, they don't physically have their hand on the wheel, they're the person standing behind that gives the directions to that person on where to go, things like that. So that was where I first started. I have a business degree from UNSW and I wanted to utilise that a little bit more. 

Although I didn’t plan on leaving after six years, I knew that I wasn’t going to stay on for 30 or 40 years. I wanted to move into a role that was going to be able to give me better skills that were more transferable on the outside and so I became a logistics officer. I think most people will probably have an understanding of what this role entailed, but simply put it's dealing with all the moving parts on the ship. 

This included food and fuel and moving the ships to different ports, all the logistical elements that go into that. So it was amazing for my planning skills and my problem solving skills and I had some great experiences while I was in this role. I deployed on two operations and I served on four different ships that were out of Sydney and out of Darwin.

I was doing a little bit of study for my finance masters and I was actually deployed in the Southeast Asia region. We were going through the South China Sea and it's a little bit of a contested area, it's still quite safe and everything's fine but there are a lot of ships from different countries up there that feel that they deserve the rights to some of the ocean. 

Looking back, it’s interesting because I’m on that ship and in those kinds of situations and then I’d have to go back to my rack and do a bit of math study and deal with problems like how to work out the price of a bond or how to work out how to value a property. They’re such polar opposite experiences, one minute of the day to the other. So that's probably one of the big memories that sticks out for me.

Tyrone Shum:
That makes it really interesting. So you were concurrently getting your masters in finance at UNSW and serving in the Navy?

Lachlan Vidler (18:53):  
I was in the tail end of my masters and I had a couple of subjects to go. I thought, ‘Oh, I'm going to be away for a while, do I wait and prolong the degree even more, or do I just try to do it while I’m out there?’. I'm glad that I did try to do it out there because it saved me a lot of time. It was certainly hard switching between Navy stuff to finance and investment stuff.

Tyrone Shum: 
Oh I could imagine. So how long were you out on sea normally, because there'd be a proportion of time that you'd be back on land, and then the other time you'd be out on the water?

Lachlan Vidler (19:29):  
It really depended on what was going on. So for one trip the ship was gone for months and months and months, but the ship is only as good as its people and people need food and things like that. So this is where my role as a logistics officer came into play because usually, from a Navy perspective, ships can actually go a lot longer than their people can.  You often need to stop in different ports every few weeks because of things like food, to be able to resupply the ship. It really depended on that, but it was usually every two, three or four weeks. I think the longest I ever spent between ports was about six weeks and when we came in, we certainly needed some food then.

Tyrone Shum:
That's a long time to be out there. I'm assuming submarines and naval ships are very similar, or would they be a different thing altogether? When you're underwater it's quite hard to come back up all the time and dock. Are they about the same in between ports?

Lachlan Vidler (20:30):  
I'll just have to speak a bit anecdotally because I was never on subs, but it's the same constraints, it's always about food and things like that. So in that regard submarines are the exact same, they've got to make port every so often as well to be able to resupply. But they have a much more stealthy role in the world, so they're set up so that they can do their role a little bit better than we can when we float on top of the water.

Day to day on the ship

Tyrone Shum:
Like any other job, Vidler’s day to day on the ship varied. He managed his day according to a number of factors, but focussed on his priorities.

Lachlan Vidler (21:12):  
You might have to deal with contractors at the next port, for example, when you’re stopping at a port in Malaysia, you're going to need cranes, food, water and power. You'll then have some admin to follow up on or you may need to check in on your people and deal with any issues that they may have. You'll want to have a bit of chill out time after five or 6pm, around dinnertime to regain some sanity. I used to have to spend whole days on admin sometimes, or whole days preparing for the next port. It was always so different. 

Tyrone Shum:
So it sounds like you were given set responsibilities and you were taught the skills on how to plan and manage and accomplish goals. But, you also had the freedom to get done what you needed to, without having a set routine everyday.

Lachlan Vidler (22:47):  
Definitely, It was 100% like that. In the military there’s a saying, ‘the left and rights of Arc’, which means that the gap between the left and the right of an Ark is where each member of a group has their own positions and is responsible for. You weren't necessarily told how to do the things in that area of responsibility, but they'd say, ‘You just need to get them done’. You always had support and had someone you could talk to which was so invaluable, being able to bounce ideas off of people. I'm a big believer in collective thought and group thinking, I think you get such a better result. If you don't know the answer then you’re able to take on the thoughts of a team and we always had that.

Tyrone Shum: 
Yeah, I love that. I'm the same I, I think having a collaborative approach is so important, especially in the kind of role that I’m in as a project manager. There's no way that I'd be able to come up with all of the solutions and that's why I have teams of people around me, like buyers agents, architects and so forth. To be able to tap off their expertise and then get the support to be able to come together and finalise the project and basically just guide them in the right direction. So when the internet was not as advanced as it is today, maybe 20 or so years ago, how did people in your position deal when out at sea?

Lachlan Vidler (24:28):  
It was definitely not as good. You certainly cannot sit there on YouTube or Netflix and watch a show. Not at all. But there is the internet, but you get it from satellites. So as you're moving throughout the world, you'll get better reception and get worse reception. When we would leave the Australian coastal area, maybe a couple hundred nautical miles off the coast, you would notice that there was often a massive drop in connectivity. It always made it difficult, but it’s the nature of the beast. 

You can do emails, that's usually fine but trying to get on the web to be able to see different things could be challenging, It's something that I think will always be an issue for boats everywhere. You could be on a cruise ship and you're going to have similar issues, but with technology going at the pace that it is, I don't think it'll be too long before we get to a point where people can at least exist somewhat happily with the connection. 

Tyrone Shum: 
I guess the reason why I asked that question is, is it a necessity to have that connection? Obviously we're connected by cable in the suburbs and mobile reception is fantastic here. It's like the norm, you click on something and instantly your message is sent off to wherever it is and you can get a response back just as quick. But when you're out on the water and acting as a logistics officer, you've got to plan for contractors and what not. Is it a necessity to be able to communicate this quickly? Or is it whenever you get close reception you just send a message or call somebody then?

Lachlan Vidler (26:09):  
It's a mixed bag, there are phones all around the ship and most of the phones are for the internals of the ship, so you can call another phone, but you can't call out. But there are always a few phones that can dial out, that use the satellite connection. For example, someone that does logistics or maybe the ship's captain, might have a need to be able to speak with those people, so you could do it that way. 

When it comes to the internet, It's more about keeping the crew happy, regarding their mental health. When you leave home, people just want to be able to chat with their friends and family and emails are not instantaneous. The crew members want to be able to get on their phone, for example, go on Facebook Messenger and be able to just have a chat with their loved ones. As I said, with technology improving the way it is, we can deliver a better service in that aspect and I think it will really help people dealing with the isolation of being away from home for so long. 

Making the switch to management consulting

Tyrone Shum:
When leaving the Navy and finishing his masters in finance, Vidler ventured into management consulting. Similar to his role as a logistics officer in the Navy, this role had an unpredictable nature.

Lachlan Vidler (28:41):  
Consulting was such a natural fit for me because you weren't doing the same job for 12, 18 or 24 months. There is a lot of variation and you get to meet such interesting people. Deloitte was the first company that I went to and it was such a great opportunity to get to work with them. 

I interviewed a couple of times and they kept inviting me back for more interviews, so when I got the offer to join them I thought, ‘Deloitte is a global name and I'm about to go from being in the military, which has a bit of prestige about it and is respected, to then having my first job as a management consultant with such a big name. I couldn't pass that up, I had to jump at it.

Tyrone Shum:
So what exactly is a management consultant?

Lachlan Vidler (30:17):  
My role as a management consultant is to help solve problems that some organisations, companies or the government are having. It may not even be a problem that they are having but something that they need help with or want to do better. So you obviously  have a bit of expertise in the area that you deal with, but you end up being a jack of all trades, master of none, and you get really good at problem solving. You also become really good at dealing with people at a senior level within organisations because you're essentially there to help them solve their issues.

Tyrone Shum: 
That's great. I'm really curious, what skills from the navy were you able to transfer across into management consulting? Or did you actually pick up these new skills while working at Deloitte and learn on the job?

Lachlan Vidler (31:25):  
I was able to utilise skills that I had gained from the Navy but also learnt on the job at Deloitte. To me, problem solving is a pretty simple task, there are so many different methods and different frameworks but at the core of it, for example, problem solving is about breaking down a problem, working out the different parts, and then working on a solution for those parts, it's a pretty simple concept. 

Coming out of the military, I had so many of those skills which was great, but then going to a company like Deloitte, they have their own frameworks, like intellectual property frameworks on how they like to deal with problems, or how they might want to present solutions to problems. So I took what I knew, I adapted it for working in business and just went from there.

Tyrone Shum: 
Excellent, how long were you at Deloitte's for?

Lachlan Vidler (32:18):  
I only had a short six month stint with them before I moved to my current company, Accenture, which is another really big name where I’m doing similar work. It’s been really interesting seeing the way different companies work, even when working within the same industry. But it's been such an interesting ride so far.

Tyrone Shum:
So you’re doing the same work at Accenture?

Lachlan Vidler (32:43):  
Yes, doing management consulting and I do quite a bit of the same work with the government. I look at problems that they may have, break them down and help organisations be better, more efficient and more effective. 


Tyrone Shum:
So inspired by Lachlan Vidler’s  journey, we will keep the conversation going in a future episode of Property Investory. We will discuss the first property he invested in with the help of a buyer's agent.

Lachlan Vidler:
I was presented with properties and I did due diligence on top of their due diligence, but being able to have that help for my first property taught me so much that I didn't know beforehand. 

Tyrone Shum:
We’ll also hear about his work in the development space...

Lachlan Vidler:
So the development we're in currently is a syndicated investment, so we’re doing it with a couple of other people. But that was more so to be able to leverage into a very, very high value lucrative development that we couldn't fund by ourselves. 

Tyrone Shum:
His most memorable investing moment...

Lachlan Vidler:
The tenant had called the property manager quite a number of times saying that the lights weren't working, but it turns out they just didn't know how to turn the lights on. 

Tyrone Shum:
And that’s next time in a future episode of Property Investory.
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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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