TPP276: The reality of refurbs: One investor shares his story

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 28 June 2018

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Recently we discussed the pros and cons of buying new and buying old. We tapped into how buying older properties that need refurbishment come with a lot more work and stress; they also can come with a lot more reward. This episode we talk to an active investor who gives us the realities of refurbing older properties. We find out what it actually takes to find a property, have some work done and get it rented - and doing it remotely! NEWS THIS WEEK It looks like the increase in stamp duty isn’t bringing as much revenue as expected a report suggests. Could it be that raising taxes can deter buyers? This sounds like an opportunity to discuss the Laffer Curve Effect! IF YOU ENJOYED THE PROPERTY PODCAST, PLEASE LEAVE A REVIEW ON ITUNES Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey everyone and welcome to the property podcast it's Rob B with Rob D and this is
0:06.3	episode 276 for many people it's a dream to go in the refurb a property and
0:12.1	see the results it can bring.
0:14.0	And sometimes that process goes really well.
0:18.0	And sometimes it's just bloody hard.
0:20.0	So this week we're going to look at the reality of refirbing.
0:24.0	Yeah, thank you for joining us once again on the Property Podcast.
0:33.6	We've got a cracking episode today.
0:35.0	You're going to hear what it really takes to get big results in property
0:38.0	in a short period of time.
0:39.6	People will tell you that it's easy, they'll tell you that everyone will do it.
0:42.4	By the end of today's episode, you'll know that that's definitely not the case
0:45.2	and you'll have picked up some practical tips for how to make sure that you are one of the ones
0:49.0	who does make it work.
0:50.3	So it's time for our new story at the week and this week's headline is Stamp Duty
0:56.8	revenues plunge as housing market freezes. So Stamp duty taxes have gone up, but yet revenues are falling.
1:04.3	Rob what's happening?
1:05.3	Yeah what's happening is the Treasury is 7% worse off in this financial year so far
1:10.4	compared to last year apparently.
1:12.2	Stamp duty is probably one of the more hated taxes that is around.
1:15.6	The Treasury loves it, so it tends to bring a lot of money.
1:17.6	This year it's going to bring in 12.2 billion.
	...

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