Are You Buying The Right Property?

How do you know if you’re buying the right property or the wrong one? In this episode we cover some steps you should take to check if the property you are considering is right for you.

Ryan:    When you’re looking to purchase an investment property, often you might get to the end and second guess yourself, and you want to ask, how do you know that you’re actually buying the right property? Is this the right one for you, is it overpriced, how do you know that it’s a good buy?

Today I have with me Ben Everingham from Pumped on Property, my buyers agent of choice and an expert in buying property, to talk about this and to understand whether or not you’re buying the right property for yourself.

Ben, I know that you get calls all the time with people saying, “Hey, Ben, I got this property and I’m about to buy. Is it good, what do you think about it?” So I thought we could just walk through the conversations that you would have with people so people can ask these questions to themselves and to find out yes, it’s a good property, or no, they need to go back to the drawing board.

So when people give you a call and say, “Hey, Ben, I’ve just spoken to an agent, just made an offer on this killer property,” what sort of stuff do you ask them?

Ben Everingham:           Unfortunately I do get that. Not unfortunately, but I do get that call pretty often. The first thing I ask that person is, generally, why are you buying that property in that area? For whatever reason I seem to get these calls from mainly people that are looking at regional marketplaces where they may have missed the stage of the cycle, so they’ve missed that opportunity in an area.

A good example of this would be, as we shoot this video, Tamworth, for example. Everyone knows that there was great money to be made in Tamworth four years ago, but we also know that that market’s declining right now at the time of shooting this and so things ebb and flow, but just because everyone else is on the bandwagon, doesn’t mean it’s the right time to jump into an area.

Ryan:    Yeah, so do you find that most people know why they’re buying in that area, or is it more just people get tip-offs; someone tells them they should buy in this particular area, or they read it in a magazine or something and that’s why they’re there?

Ben Everingham:           Yeah, it’s generally either through one or three or four things and the first thing is probably they read it in a magazine or they saw it on a Current Affair as one of Australia’s 10 new property hotspots, which seems to be on air every single week at the moment. And then they’ve got either a tip-off from a financial planner or a mortgage broker as to a specific area.

Generally, unfortunately, again, that product’s brand new and doesn’t represent value which we can come back to later on that particular person at that time. And then family and friends or somebody that’s a trusted advisor has told them about a particular area and then just sort of said, “Go up there and check it out and see what happens.”

Ryan:    Yeah, and so first you really need to ask yourself, why are you buying this, can you actually justify buying this? And, I guess, assessing what market are they actually buying in? I would say the next thing people should do would be, have you done your market research into an area?

Ben Everingham:           100%. So often, like we were talking about off-air just before this call, I believe that 80% of the value of a property is actually based on the market that you buy, the time that you buy in that market and your suburb selection, so getting that stuff right is 80% of your future capital growth or future cashflow, which means, for whatever reason … I personally love to do this too, I love jumping on Realestate.com in an area and just checking out houses because I like housing and I like to find value.

But if you don’t know which area you’re jumping into, or which suburb, or why you’re going there, it can be super confusing. And then it’s like the kid in the candy store, like everything can look desirable to someone that doesn’t know why they’re in a particular area at a particular time, but if you really want to do this right you have to go back to that first step.

And you might have already tipped off the right area. There’s plenty of people that ring me and go, “Hey, Ben, I want to buy in Sydney on the beach, or Melbourne on the beach, or Brisbane on the beach,” and I’m like, “Hell yeah, that’s awesome,” and completely reinforce it, but unfortunately, more often than not, it’s not working out that way at that time.

Ryan:    So what are some things that people can look at to say …? Let’s assume that they haven’t done much research. What sort of things should they immediately look at and say, “Okay, what are some data points I can look at for this area and whether or not it’s good?”

Ben Everingham:           Yeah, so obviously we know that a lot of the analysts in Australia didn’t get it right all the time, but one report that I follow is the HTW Month in Review Report. So for anyone that is seriously considering buying something at the moment and just wants the sanity-check that they’ve bought the right market, or anyone thinking of buying, this little report you can click. It’s the HCW Month in Review Report and you can Google it for free. You can jump in and have a look at where all of the metro markets and major regional markets are in Australia right now, and just it’s a bit of a finger on the pulse, I suppose, to go, “Where’s working, where’s not working?” This is a pretty good report. It’s not perfect but it is a great place to start.

You might go, “I only want to buy in New South Wales,” so you just read the New South Wales part of the report. You might only want to buy in Victoria so you read that part, which you can digest in about five to 10 minutes; it’s very easy reading.

Ryan:    Yeah, so I think that report’s really good just to get an idea of where it’s at, because that way if you’re suburb is in a declining market or something, it’ll just show you straightaway, because you can go into more detail. You can look at things like vacancy rates, you can look at sales history or capital growth trends, all of that sort of stuff, but it’s harder for the average everyday investor to analyze what those data points mean. High vacancy rates over 2%, that should be a red flag, but when it comes to analyzing trends and stuff, that can be difficult.

So yeah, that report’s really good to look at, and that way, if you’re area’s been shown in a rising market, then obviously that’s a good sign. If it’s shown in a declining market, you can go, “Whoa, whoa, hold on. Let me look at this in more detail and try and find out whether this is accurate or whether I think it’s going to be all right.”

Ben Everingham:           And that’s exactly it. Our job as investors, nobody’s going to roll the dice a hundred times and get the same result, and so part of investing is taking on risk. You can read as much as you want in the entire world, but things do come up in the global market, in the national market, in local markets that none of us can forecast.

But there are a lot of things that you can sanity-check, like the HTW Month in Review Report, for example, to just go, “Based on the available data, it does look like a logical decision,” as opposed to, “I heard about it from someone else and is that information even valid?”

Ryan:    Yeah, and so make sure you check that, guys, just to sanity-check that you are investing in the right area and really looking for those red flags to say, “Okay, this area might not be what I thought it was.”

Because so often people just invest in an area not knowing much about it, and even just checking these couple of little things can really help you you understand what it is you’re buying and what sort of area you’re buying and whether or not it’s likely to grow in the future.

Ben Everingham:           Yeah, and I’ve done it personally. I didn’t do my due diligence on a property about four years ago. I took a red hot tip from someone who I really trusted, and I knew a lot better at that time to do this, but I saw easy money and I thought I’d go for it and ended up losing about $40,000 out of my own pocket, which is a huge amount of money to absolutely anyone. This is after tax, $40,000, and at the time I was still working for someone else not making fantastic money. So it was a huge learning curve, let’s just say that.

Part of the reason we’re having this conversation is so that other people can hopefully not make these mistakes that you, myself and other people that we talk to every day have had to make through learning ourselves.

Ryan:    Yeah, and I think once you’ve data-checked the suburb and you’ve made sure that the suburb’s good, then you want to check the market value of they property that you’re buying, as well as the real estate agent that you’re buying from to make sure that you’re in the power position, you’re getting a good deal. So what are some things that you would advise people around that?

Ben Everingham:           That’s a really good point and something that we do as a business that I hadn’t talked to you about before today. I think getting a data-check is a really, really great way of understanding the market in more detail. By data-check I’m talking about a valuation on the property pre-submitting an offer.

You can go somewhere like Onthehouse for free, and I find that ranges are pretty broad and they’re generally either completely below or completely above market value, but at least it gives you an idea of what’s going on. I know those guys just got bought out by RP Data, ’cause Onthehouse is owned by Residex, and so now that RP Data is controlling that channel I think longer term it’s probably going to improve the validity of the data.

But Onthehouse is a completely cool way of getting that for free, or you could jump on a paid tool like Real Estate Investor and just pay for the suburb data as a one-off or some information, a report on that individual property as a one-off fee. Sometimes RP Data, different times of the year, will allow people to do the same thing.

Alternatively, you could go to the real estate agent if you won’t want to do the hard work yourself, and say, “I’m really interested in this property. Can you please pull me a comparative market analysis of where you see other comparable recent sales in the area over the last 12 months?” So that’s a comparative market analysis and that’s a amazing way to go, “Okay, the agent’s basically saying this is the bottom end, this is the top end of what we’re trying to do,” and that helps you get a finger on the pulse of what’s really happening there.

Ryan:    Yeah, well that’s the thing, you can go to Onthehouse and you can get the assessment, but, as we said, they give you a pretty broad range and it can be above or below; you’re never quite sure. But what you can do on there, or you can do through other sites like Realestate.com.au, as well, is actually check past sales of comparable properties and just go on yourself and look at those properties and look at the old listings and say, “Okay, how does this property compare to the property I’m buying? Does it have a similar amount of bedrooms, is it in a similar area, similar condition, and what did they sell for?” And then you look at properties with an extra bedroom, or one less bedroom, or better or worse conditions, to get a feel for what your property’s actually worth.

By going through that, you can understand, okay, well if you’re buying a three-bedroom property in a poor condition and the asking price is the same as a four-bedroom property in a newly renovated condition, you can be like, “Oh, wait a minute! Something’s gone wrong here.”.

Ben Everingham:           That’s a really good point, like having a look at some of those points. It’s very easy to look at a property, jump on the sold history of Realestate.com, which you can access for free, and go, “Okay, this is a four bed, two bath, that was a four bed, two bath, two car, they’re both on the same size piece of land,” and then make assumptions from there that everything in a suburb is equal.

We know from ripping apart suburbs that everything is not equal. There are parts of suburbs that are very highly desired, like very desirable. When you look at the maps of where, I suppose, higher priced properties have sold, it’s always clustered, and so, I suppose, understanding that just because it’s the same type of property doesn’t mean that spending an extra $200,000 on it, because it’s in a more premium pocket of an area, can’t be justified logically as well.

So just be careful with that trap of going, “Ah, these are all the same,” when one of them was sold on a main road in a very undesirable pocket next to a train station, and then another one was sold in the most expensive street where everything’s worth an extra 2 to 300k, so yeah. But you can definitely rip into that data, and it’s all available for free now which is absolutely awesome.

Ryan:    So good. I remember five or six years ago, or something like that, you try and find any of this and you’d have no hope. You’d have to buy a 2 or $300 report just to see some of the comparable sales and now you can see almost anything.

Ben Everingham:           Yeah, everything’s online if you know where to look, and Realestate.com, now that it’s being fed by RP Data, is getting better and better and better.

Ryan:    Yeah, and it’ll probably just keep going that way as well.

So, we’ve looked into the suburb, we’ve looked into the property in particular. You also want to look into the real estate agent, which was a great tip that you mentioned before we went on air. Do you want to talk quickly about that?

Ben Everingham:           Yeah, so I think this is something that in the last probably three years, as I bought more property for myself personally, I found value in. As a person buying property, as an investor, you’re really looking for any opportunity you can to have a buying advantage. ‘Cause you and I have similar preference: we buy quality, regional or metro markets.

That’s pretty much where we stand on things, and so in a marketplace where everyone in Australia can get access to money at the moment, even though APRA’s made it a little bit harder for some people to get finance, the main people that they’re stopping are actually sophisticated investors as opposed to average moms and dads with one or two properties, and so people can get access to money and they can make repayments at the moment. So having any sort of buying advantage is powerful.

I normally like to start by, say I’ve identified the suburb and I’ve identified a property, on Realestate.com you can click on the agent’s name and it opens up a full profile on that agent. Like, so much information it’s like the CIA’s done it; it’s awesome.

It’s kind of like, this is how many sales they’ve made in the last 12 months, these are the suburbs that they’ve sold in the last 12 months and these are the actual properties they’ve sold, and you can get a bit of an idea of, does this agent know the area?

‘Cause as a buyer you’re always looking for an out of area agent. Have they sold anything in this area and if they have sold something, are they selling the premium properties or are they selling whatever they can get their hands on to try and make sales? And so you can get a bit of an idea.

If they’ve sold less than 20 properties in an area, generally it means they’re not going to be a top performer, which means you don’t have an advantage over someone that’s in the industry. But someone who’s doing less volume, if you’re smart you might be able to get a bit of an advantage over them, ’cause they probably need the sale more than you need to buy the property, if you know what I mean?

Ryan:    Yeah, so do you mean 20 properties in a year, or over what period?

Ben Everingham:           20 properties in a 12-month period, yeah, as a rule of thumb in a market where there’s 100 sales plus per year.

Ryan:    Well, and that’s the thing, if they’re making over 20 sales a year they’re probably making some good coin. They can take their time a bit more than someone who’s done two sales and they’re struggling to feed themselves and pay their [crosstalk 00:14:47].

Ben Everingham:           When someone’s done two sales, unless they’ve just jumped agencies, ’cause Realestate.com doesn’t flow it onto their new agency, if you find someone that’s sold two properties in the last 12 months, just put a low ball offer in because you know that they’re selling to survive right now and you’ve got a very good chance of buying at the right price point.

Ryan:    That’s one of the smartest things. I think the way you analyze the market, compared to other people, is you’re not just playing the market, you’re not just looking at the data of the property, but also actually you need to look at the real estate agents that you’ll be working with, how to negotiate with them, choosing the best agents that you can negotiate with the best as well, and the way that you approach that is probably better than I’ve seen anyone talk about it before.

Ben Everingham:           Yeah, we love that stuff, ’cause at the end of the day, once you know the market’s right, once you know the suburb’s right, once you’ve done your little bits of due diligence, like we discussed, then it’s game-on time. That’s where the fun starts and that’s when don’t be afraid to negotiate. You get better at it every time you do it.

If it’s a top performing agency, it’s big game for them as well and they know that’s it is a numbers game and they’re not emotionally attached to anyone coming through the door either, but if it’s an average person, you can put a fair bit of urgency in their mind and you can put a strong offer in front of them and give them a certain period of time to close on the property.

When I know it’s an agent that hasn’t done a huge amount of selling, I’m always saying, “This offer will be valid for the next 12 hours and if you can’t get it done we’ll be walking away and moving onto another property.” All of that pressure, techniques, that unfortunately, when you’re buying a property, if it’s a difference between 10 or 15 or $20,000, it has to be applied.

But to find these agents outside of clicking on a listing, there’s a great resource which is Openagent.com.au, or Ratemyagent.com.au, which you can find who are the top performers in an area and also see what they’ve been selling, too.

Ryan:    And so I think once you’ve looked at the agent, the last check that you want to do is to go back, or to do due diligence and to work out, is this house in a flood zone, what’s the public housing like in the area, what’s the crime like in the area, is it in one of those good pocketed suburbs that we talked about where houses are worth more, or is it in a cheaper pocket? Because that’s obviously going to affect the price and the valuation of that property.

Once you go back and you do that, then you need to assess your goals and whether this property is actually going to move you towards your goals. ‘Cause sometimes you can have a good property that’s just not going to move you towards your goals.

Ben Everingham:           Exactly. I’ve got plenty of great properties that, knowing what I know now, I wouldn’t own anymore, you know what I mean? They’re good quality properties, but once you become a little bit more educated and you know how much better you can buy, what was a great property then, even if it’s in Sydney, would not be a great property in Sydney to me now.

So it’s a constant learning process, and not beating yourself up too much about purchases that you’ve made or purchases that you’re going to make, but there’s a hell of a lot of stuff you can do to save yourself that future pain, that’s for sure.

Ryan:    Something that you said that was really well, just before we started recording, was that sometimes not buying is better than buying something that you probably shouldn’t buy. Do you want to talk a little bit about that?

Ben Everingham:           When I was mentioning that, I’m talking about two very distinct types of people, and that is the person that’s buying their first investment property, whether they’ve already owned their own home or not, or they’re a full-on first time buyer thinking that owning something is better than owning nothing and that action is going to equal a future result. Unfortunately that is completely not the case.

The second type of person is the person that owns four properties, has just been told by the banks that they can only borrow $300,000 and they want to go and spend that money because they like … You know, I love buying property. If I could buy a property a week, I would, you know what I mean? ‘Cause I really enjoy doing that. But buying a property a week would be a smart thing until we have a financial crisis and then I’d be the over-leveraged guy that loses everything, so it’s logically not a smart thing. But I like the process.

Some of these people like buying so much that they just go and burn cash on assets that they know that they should never own, but the concept of finding something that they believe is below market value and renovating it a little bit and then getting a tenant in, it’s like they’re still in the game and they can tell people that they’ve just bought another one.

That’s not what it’s about. It’s about slowing down to speed up with property these days. We’re not buying in a market where Sydney or Melbourne are going to go up by 60% in the next four years again, so you’ve got time. Be patient, do the right thing, do your due diligence properly.

Owning more stuff doesn’t mean that you’re moving in the right direction. Sometimes it can mean you’re actually moving further away from your goal, because it’s stopping you getting into that quality asset that would be better than buying three shitty properties in the three shitty areas.

Ryan:    Well, that’s the thing. So many people, the pressure gets on when the negotiating’s happening and the real estate agent’s saying, “Someone else has made an offer so if you want to buy this you’ve got to offer 10 grand more,” or something like that, and people feel that pressure and feel that emotion. Because it’s so much money to purchase a property, to purchase your first property especially; it’s a really emotional ordeal.

But just know that around the corner is going to be another great deal. It’s not going to be this particular property in this street, it might even be in a different suburb, but there’s so many good opportunities out there if you’re patient with it and you go through this process that we’ve talked about.

So don’t feel pressured to buy something because you might have made an offer on it or you’ve been to an open house or something like that. Really take the time and assess, is this going to move me towards my goals and help me achieve my goals? And if it isn’t, find a way that you can get out of it.

Ben Everingham:           That’s a really good point. It’s something that I don’t think enough people in the industry are actually talking about, which I’ve just begun to label this “buying fatigue”. Buying an investment property, if you’re doing it on your own, can be super stressful. I physically don’t like the process of going through the buying journey, and I’m someone that bought 129 properties last year and I don’t like it. If you don’t like it doing that many, you’re not going to like it doing one, and that’s with repeat exposure and removing all emotion and just going, “This is purely a logical thing.”

But buying can be extremely stressful and it can be extremely taxing when you’re working full-time, trying to find your next batch of properties that you’re going to look at at the mid-week inspection and then the open inspection on the weekend.

If you’ve got a family or you’re young, like you’re trading your weekends to go and do this stuff … And what I notice is that people have all of these beautiful goals and then this buying fatigue kicks in over a period of time and they sacrifice everything that was actually important to them to the point where they buy the completely wrong product.

Ryan:    Well, now they’re just like, “Oh my gosh, I’ve been at open inspections for the last two months. I’m sick of this.”

Ben Everingham:           Who wouldn’t be sick of that man?

Ryan:    “I’m just going to buy this property ’cause it’s there. No one’s putting an offer on it. I’ll just pay asking price just to get it done.”

Ben Everingham:           And every time you walk through the door, the agent’s like, “I’ve got another offer on this property. You’ve got to move on this.” It’s like, “Dude, if you were really that good and you had another offer, why would you even be saying that to me? Why am I here and why is this open home here?” And as soon as they say that to me, I’m like, “Well, should I leave? What am I actually doing here, man? Do you still want to sell this property …? Just as a throwaway line. And then it breaks the ice and we have a bit of a laugh.

I suppose coming from the industry, we can have those conversations because we get past the game and it’s more just about we’re both here to get the same result. We want to buy the right property, you want to sell it, let’s not pretend it’s anything else. But yeah, getting caught in the buyer’s fatigue is very dangerous, particularly in Sydney and Melbourne at the moment where you can get caught up in open homes of the right price property.

There’s still 70 people showing up to something that’s listed at 50 grand below market, knowing that they’re going to generate enough interest on that day to sell it out 50 grand above, so you’ve got to be really careful about how people are doing things at the moment.

Ryan:    I think that’s why it’s so good to have checklists like this to say, “Am I sure that I’m buying the right property?” To go back over this checklist, why are you buying it, what’s the market you’re buying in, have you looked at vacancy rates and sales history and do you know the market value? Have you done your research on the agents and your due diligence on the property, and is it moving you towards your goals?

It’s so good to have that checklist because if you do have the buyer’s fatigue, or for whatever reason you are looking at the wrong property, then you can double-check this. So you’ll either, after you’ve done this, you’ll find yourself in two positions, Like, you’ve done your checks and you’ve found that yes, this is a good property that you think it’s in a good area that’s going to move you towards your goals, and that’s great. You’ve just reassured yourself and you’ve reassured your decision to move forward, so that’s absolutely awesome.

Or you may find yourself in the position where you’re saying, “Well, this isn’t really the right property for me,” and that’s the time to go back to the drawing board, to the stuff that we always talk about: to start with your goals and to say, “Well, what am I trying to achieve and what’s going to get me there in the next ten years or five years?” Or however long your goal may be.

Ben Everingham:           Can I share a story about that, about a dude, a young guy that you recently referred to me?

Ryan:    Yeah.

Ben Everingham:           I just think it’s super interesting. So this dude came to us, Tyler, and he actually came round to my house, ’cause he was on the Sunny Coast the other day, and just had a beer with me.

He was up here for some concert with his girlfriend. It was actually good to catch up with him in person, socially. He’s just an awesome young guy. He’s 25, 26, and he’s an engineer that lives in Queensland, but flies to Newcastle. He’s a fly-in to a big city, fly-out worker. So weird.

But he came to me with this sub-division deal that some property marketer had put together for him. I just looked at it straightaway, like in one second, and I was like, “Dude, that is a shocker.” And I’m like, “whatever you do just …” We just had a strategy session; there’s no agenda with that session. It was kind of like, “This is the wrong property. Good luck. Just can it.” It took him seven weeks to walk away from that guy, ’cause this guy’s putting so much pressure on him and it was the first time he’d done something.

About 13 weeks later he comes back and he was like, “Can we just do another session so that I can figure out what I need to do and then I’ll go and do it?” I’m like, “Sweet.” About 13 weeks later he was like, “Man, I don’t have time for this.

Can you just help me do it?” And I was like, “Okay, sweet.” So because he’d been sold this different strategy by someone else, it took us about literally 10 weeks to both get on the same page with exactly what he wanted.

We jumped between two or three different strategies, because he’d heard so many different things, and it was just a constant process of refinement. We just ended up buying this property three weeks ago, which was eight kilometers from Brisbane CBD, it was $450,000. This property had been sitting on the market for 12 months and originally listed at 600k.

But what I found out is that the owners didn’t want to actually sell the property because they’d lived there for 38 years and so it wasn’t that the agent hadn’t got offers on the property, they’d got 575 grand written offer, 550, and then over a period of time the market had just said, “What’s wrong with the property?” We did the due diligence on it. There was nothing wrong with it, it was just the market was fatigued from the property because it was so hard to buy it.

So we went and saw it a couple of times and then he came and saw it. This young dude’s just made, on the spot, 140 grand or something in equity. But what we found out from doing some due diligence and going to the property is that when he legally lifts this property, he’s got full-blown unobstructed city views which immediately makes this property in this area, where things are selling for a million dollars, so much more valuable, and he’s an electrician, as well as a civil engineer, and so that’s what I mean. That’s a six month process for him, which is just so fatiguing, and by the end of it he was worn out.

A week after it settled he’s like, “Dude, let’s go again.” ‘Cause now he’d got the result, he’d seen how much he made, he leveraged straight off that property. He didn’t even need to use his own cash to buy again, which is a credit. That rarely, rarely happens in this market, but that’s a story of how much of a grind it can be, but it’s so worth it because it might take someone four years to make that same equity from one deal.

Ryan:    Yeah, and imagine if you did that dodgy deal at the start that was the sub-division that was probably going to lose him money?

Ben Everingham:           It was going to lose him 120 grand. I showed him how it was.

Ryan:    Yeah, and just taking that action isn’t going to move him closer towards his goals. In fact, it’ll put him behind, and so taking the time to really get your strategy set and then really find a property that fits into your strategy and your goals is just absolutely worth taking the time to do.

And as what happened with that guy, if anyone out there is feeling that fatigue or feeling like they don’t know what to do, or maybe they have a property that they’re looking at and they’re not sure and they want some help, Ben is offering listeners of On Property a free strategy session with him.

So if you go to onproperty.com.au/session, you can book a free strategy session with Ben, you can just choose your time over there, and yeah, that’s just a session where you can go through where you’re at, maybe the property you’re looking at, what your goals are, and you can get really set so you can move forward. That’s just been so helpful to so many people I know. I get emails from people saying, “Just had a session with Ben. Feeling so good about where I’m moving forward now.”

Ben Everingham:           And I think just to add to that, it is a strategy session, it’s not a sales session. It is purely about understanding where you’re at. If you want to go do it on your own, go do it on your own. It’s an add-value session, it’s not a hard close session like other people in the industry. We actually do care so much about what we’re trying to do. I’d rather you go, “Hey, I’ve thought about this property,” and me go, “Yeah, it looks awesome based on my knowledge or it doesn’t.”

I don’t have a crystal ball and I don’t pretend that I’m an expert on every market in Australia, but there’s some pretty simple questions that can be asked in a five-minute period of time to know that if something stacks up or not, or, if you need to go and do some extra due diligence.

What I don’t want to make this video about is it feels hard to go do this stuff. This would take Ryan or I probably seven minutes to evaluate an area properly, and maybe an extra, if I was seriously thinking of buying it for myself, an extra 25 minutes to really get my head around everything that I need to know.

But it’s about saving yourself time rather than jumping on Realestate.com every night for an hour looking in the wrong area, looking at the right area first and so that you know that that’s just settled, you don’t look outside of that suburb or that market, you do a series of very simple things that you can find online for free.

And then sometimes you get a second opinion on that stuff just to make sure that it’s suiting what it is that you’re trying to do, and you may know what you want to do or you may not know, that’s the thing.

Ryan:    Yeah, hopefully then you’re in a position to actually go out and buy a property with confidence and a property that actually moves you towards your goals.

Thanks so much for this discussion, Ben. I know it’s going to help a lot of people just double-check themselves and where they’re at and what property they’re buying. Hopefully we’ll stop a lot of people actually making a bad purchasing decision and will actually help them go forward, make the right decision, move them towards their goals, which is exactly what we’re all about.

If you guys did want to do that strategy session with Ben, again that link’s onproperty.com.au/session. You can go over there and you can book a time with Ben if that’s something that you’re interested in.

But yeah, thanks so much again, Ben.

Ben Everingham:           Thanks so much for the time. I really liked this one today. Thanks, man.

Ryan:    Yeah, it was good.

Until next time, guys, stay positive.

"This property investment strategy is so simple it actually works"

Want to achieve baseline financial freedom and security through investing in property? Want a low risk, straightforward way to do it? Join more than 20,000 investors who have transformed the way they invest in property."