How are you reacting to the 2023 property market?
It feels as if, simultaneously… nothing has changed…
but at the same time…everything has changed.
From what I’ve seen…
Consumer sentiment has become more and more negative
The recent interest rate rises have continued to add fuel to that fire.
Not to mention inflation
And, in the world we live in today…
It’s never been easier to share those ideas through click-bait journalism or social media posts.
So… believe me.
I can totally relate to you finding this market confusing.
Recently, I was thinking about buying a unit block…
( well… to give you more context… I’ve been thinking about it for a while )
After the recent price pullbacks…
I decided it might be a brilliant buying opportunity.
An opportunity to be greedy when others are fearful.
I was absolutely taken aback.
I couldn’t believe the change in environment compared to not that long ago.
After speaking with my mortgage broker Aaron…
( shout out to Aaron Whybrow )
I was told that accessing finance would be much harder than it had been previously
And that it would be incredibly challenging to negotiate lenders down on their interest rates
Banks are becoming more and more conservative in terms of how much risk they are willing to take on…
And when they look at the size and debt associated with my portfolio…
I fall under the “high risk” category.
It’s not all gloom and doom.
I am still moving forward in this environment…
It just meant I went with a residential investment property with a different type of outcome.
Being able to identify the missing element that is preventing you from progressing will allow you to strategise and solve current constraints.
Most people fail to recognise their constraints…
Instead, they choose to “wait and see” until the market sentiment changes.
In this week’s podcast episode…
Grant and I talk with Goose McGrath, property portfolio growth expert at DashDot.
Discussing everything to do with the current market conditions…
As well as:
– investment strategies
– success metrics
– and more!
PS: Tell me about the changes that have been affecting you and any unanswered questions you have!
I’ll get Grant and I to address them in future episodes!
All information we share is NOT financial or investment advice and is purely intended for entertainment and educational purposes only. Always seek professional advice before acting on any financial decision.
00:00 Welcome to Property and Investing
02:12 Goose McGrath and DashDot
04:33 What’s changed in property in 2023
07:29 Bank valuations are spurious
09:52 Property market, economic landscape, investment strategies
12:57 How does one adapt to changing conditions
18:21 Increasing income as a strategy for property investing
20:12 The race track analogy
23:34 Different “corners” in property investing
35:15 Considering the time horizon
42:06 Changing success metrics
45:47 Other investing approaches now in a growth perspective
46:56 Cashflow is still important in the macro time horizon
If you enjoyed this episode, please don’t forget to subscribe, tune in, and share this podcast!
- Property and Investing website: https://propertyandinvesting.com/
- If you want to find out more about our guest, Goose McGrath, head over to: https://propertyandinvesting.com/partners/
About the Guest:
Goose McGrath is the CEO of Dashdot, a property investment firm helping business owners build prolific, profitable property portfolios. They specialise in sourcing properties that are under market value, cashflow positive and have strong growth and value add potential.
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