The many hats we wear

Actors act. Cleaners clean. Taxi drivers drive taxis. Mortgage brokers? Well, we don’t just do mortgages. Here are the other aspects of your life we can help with when it comes to your financing options.

Look, we’re not saying we’re as versatile as firefighters – fetching cats from trees, appearing in calendars, or you know, fighting fires – but we’ve got quite a few strings to our own bow.

We’re not just specialists at helping you obtain a great home loan and then refinancing it when the time comes.

Here are some other aspects of your life we can help out with when it comes to obtaining finance.

Car finance

People often make the mistake of buying a car using finance through a dealership after seeing a sign that says ‘Drive away, 0% finance to pay’.

But all too often dealerships sell these vehicles at inflated prices.

Using a car finance broker won’t cost you a penny. And we’ll negotiate on your behalf to help you obtain both the car and finance at a great rate. It’s safe to say the dealership won’t have the same motivations.

Commercial or business loans

If you’re fed up working for the man, grinding away in a 9-to-5 job, and want to start your own business, well, chances are you’re going to need some finance to get it up and running.

We can also provide financing options for more established businesses to manage their capital and assist with improving cash flow (which is the number one business killer).

Equipment finance

Trucks, buses, forklifts and cranes. Computers and office equipment. Medical and manufacturing equipment.

If your business needs equipment, and doesn’t have the cash to pay for it upfront, then we can help line you up with appropriate financing options.

ATO tax debt

No one enjoys the ATO impatiently hovering over their shoulder waiting for them to pay off a large tax debt. But as cash flow is the number one business killer in Australia, paying it all off in one lump sum isn’t any more appealing.

While it is possible to enter into tax payment plans with the ATO, they’re not always the most ideal option and it’s definitely worth exploring other avenues with business loan lenders.

Credit card

If you’ve racked up a big debt on a credit card and are paying an interest rate of 15-20%, there’s no point just putting up with it. We can help you find a personal or debt consolidation loan solution that has a much lower interest rate than your credit card.

Debt consolidation

Having trouble juggling a number of debts? We can help you consolidate them into one tidy loan that’s simple to keep track of. Debts that can be consolidated include personal loans, car loans, small debts, credit cards or store cards.

SMSF finance

Did you know it may be possible for your SMSF to borrow to invest in real estate?

Purchasing a property via a SMSF is slightly different to purchasing a property directly, but we can help with the process as well as help you obtain appropriate finance.

Reverse mortgage

A reverse mortgage allows you to borrow cash against the value of your home. It’s an option that’s often taken up by people aged 60-years or older to unlock the wealth in their homes after retirement.

It can be a tricky area to navigate, as interest rates and ongoing fees can be higher than the average home loan, and the interest compounds too – so it’s worth having someone by your side who has been through it before.

Final word

Basically it boils down to this: if you have an existing or prospective debt that you’re not happy with and think there’s room for improvement, then get in touch.

We’ll take the stress and worry off your shoulders and help line you up with a great finance solution.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

Top 5 tips for standing out on Airbnb

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The short term rental market is booming. Each year, tens of thousands of Australians list their properties on Airbnb to make a tidy buck on the side. Here are our top five tips on how to stand head and shoulders above your competition.

Most people who own an investment property prefer to rent it out long term. It’s more of a set and forget approach, if you like.

But for some, such as those who own one home and/or those who travel for long periods, renting out their property on platforms such as Airbnb and Stayz is becoming an increasingly appealing option.

In fact, in 2017 more than 30,000 people listed their homes on Airbnb across Sydney and Melbourne alone.

These numbers have made the Australian Taxation Office (ATO) sit up and take notice. So much so that the ATO recently declared they’ll be ramping up their enforcement activities and will undertake 4,500 audits of taxpayers they suspect may not be declaring Airbnb income.

Suffice to say, when the ATO starts paying attention to a marketplace, you know money is being made.

Here are our top 5 tips on how to make more money than the next person.

1. Professional photos

First impressions last, and these days the first impression is the webpage impression on your Airbnb listing.

You don’t see real estate agents walking around with outdated camera phones taking dank snaps of the living room. And neither should you!

A good photographer has the skills and equipment to highlight the beautiful little details that makes your property sing, and crop out the less than desirable qualities that may turn a potential guest away.

Obtaining high quality images from a professional real estate photographer costs between $150-$300 via websites such as Snappr or Airtasker.

If they get you just one extra two to three night booking they’ll have already paid themselves off.

2. The devil is in the details

There’s no point in having a photographer take wonderful photos of your property only for the guest to show up and feel like they’ve been conned by the old bait and switch!

You need to put in that extra bit of effort to make their stay memorable. After all, they’ve chosen your place ahead of a hotel, not to mention all the other Airbnb competition out there.

There’s a good chance your guest is visiting your local area to check it out. So try and include as much (classy) local artwork, local guidebooks, decorations and information as possible.

The bathroom should also always be spotless, make sure good quality tea and coffee is available for free, and ensure all the basic kitchenware is easy to find.

Other tips include providing menus for local takeaway, tips for local sightseeing, entertainment such as books and boardgames, all necessary electrical appliances such an iron and hairdryer, and some basic cleaning equipment and products in case something gets spilled.

3. Play host, but don’t smother your guest

It’s important that you’re available to your guest should they need to check anything.

That might range from “where is the frying pan?” all the way to “where’s the local hospital?”.

It’s critical that you never show irritation, no matter how trivial or inconsiderate a guest’s inquiry might appear.

That’s because one scathing review can undo a lot of the money, time and effort you’ve invested.

It’s equally important to give your guest the privacy they require. Be on hand to offer any simple tips or suggestions, but don’t pin them down for hours on end chatting to them about your own travels.

This is their holiday after all!

4. Consider using a property management service

If you’re going to be away from your property for a while it’s worth considering taking the hassle and stress out of trying to manage your property from afar by outsourcing to a professional service.

There are plenty of options out there to choose from, including (but not limited to) Hey Tom, Hometime, HomeHost and Airsorted.

Expect to pay about a 15% to 20% (+ GST) commission to them, however most boast that they can help increase your Airbnb income.

5. Thank guests for their reviews

Taking the time out to thank every single guest for their review shows you’re a super attentive host who’s always aiming to please.

The best thing is it also gives you the opportunity to further highlight the positive aspects of your property.

For example, if a guest writes in their review that they had great ocean reviews, reply: “Thanks for the review Craig! Stoked that you enjoyed the ocean views from your bedroom!”

The best thing about this trick is that it even works for negative reviews.

That’s because most negative reviews will also mention something positive about the property. So make sure you thank them for that, acknowledge their complaint and thank them for bringing it to your attention, and advise that you’ve taken steps to rectify the issue for future guests (and actually do so!).

This shows other guests that you’re a very reasonable person who takes all concerns seriously – and will be approachable if they need you during their stay.

Guess who else is approachable?

We are!

If you have any queries or questions about your property and think we might be able to help out, don’t hesitate to get in touch – we’d love to help out.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

How to choose your default Super fund

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Choosing the right superannuation fund can be like navigating a maze. Just when you think you’re onto a winner you run into a dead end – whether that be because of high fees, hidden costs, or poor performance. Today we’ll break down the process of choosing a fund in 9 simple steps.

Superannuation is a $2.6 trillion industry. And 40% of Australians have retirement funds swirling around in more than one account.

This leaves those retirement funds open to being eaten away by duplicate fees and multiple life insurance policies.

So to make it easier for Australians to keep track of their Super, the Royal Commission recently recommended that each person should have only one default superannuation account.

Late last year the Productivity Commission also recommended that a ‘best in show’ shortlist of up to 10 superannuation products should be presented to all employees who are new to the workforce to help them choose a default product.

However, rather than wait and see if those changes are ever enacted, it’s important to get on the front foot and take charge yourself. Here we’ll walk you through how to do so in 9 simple steps.

1. Check to see if you can change

Before you spend too much time researching, first check with your employer to see if you can actually choose a fund.

While most people can choose a fund for their employer’s Super contributions to be paid to, members of defined benefit funds or people who are covered by industrial agreements don’t have this choice.

2. Identify your risk level

Before you can start creating a shortlist of potential Super funds, you need to identify your level of risk tolerance.

Are you a ‘slow and steady wins the race’ kind of person? Do you prefer a good balance? Or are you willing to accept a little more risk for the potential of higher returns?

Your answer may depend on where you’re at in your life cycle, and it’s worth discussing with your financial adviser.

3. Create a shortlist

Once you’ve identified your risk profile you can start looking for Super funds that fit that within those parameters.

Super comparison websites can help you narrow down your list, but you should never make your decision on the website rating alone.

That’s because it’s important to remember that comparison websites are also businesses. And the purpose of a business is to make money.

Instead, use them only as a way to narrow what is a very wide field.

Better yet, we’d be happy to provide you with a short list of funds that will suit your unique situation.

4. Look at performance over a long-term period

Once you’ve got a shortlist, it’s time to start comparing performance.

Keep in mind that while past performance is no guarantee of future results, the Productivity Commission does see merit in past performances in the Super field.

“The age-old adage that past performance is no guarantee of future performance is only true of investment markets in a narrow sense,” The Productivity Commission said in its report.

“Good long-term performance is associated with low fees, good governance, and sufficient scale.”

Try and pick out a fund that has performed consistently well over 5-10 years, not a fund that had a bumper year in 2018.

5. Compare fees and costs

As the Productivity Commission alluded to, when comparing Super funds it’s good to start with the fees. And as ASIC states – “The lower the better … a 1% difference in fees now could be up to a 20% difference in 30 years”.

Here is a list of fees and costs to keep an eye out for in the Product Disclosure Statement (PDS): administration fees, investment fees, switching fees, buy/sell spread fee, insurance premiums, exit fees and activity-based fees

ASIC has also written this report to help you avoid getting stung by any hidden fees and costs.

6. Insurance

Most superannuation accounts come with life insurance policies.

Changing Super funds means you may not get the same death, total permanent disability or income protection cover that your your old fund had. The premium and coverage will also differ from fund to fund.

And it’s important to note that if you do switch, you may find that you won’t be covered for a pre-existing medical condition, or if you’re aged 60 or over.

The other consideration is that you may not need life insurance within your Super policy at all, as you may already have a standalone policy.

Either way, it’s important seek financial advice if you’re unsure.

7. Any additional benefits or services

Before you decide to make the move to a particular Super fund it’s worth calling the fund directly to see what other services they offer.

For example, your employer may pay more than 9.5% for certain Super funds or if you make extra contributions yourself.

8. Changing and consolidating funds

Once you’ve chosen a new Super fund you’ll need to open an account.

You’ll then need to provide your employer with all the details of your new fund.

While you’re at it, you should also look for any lost Super you may have. There’s a chance you may have some in a default account from a pervious job. You can find and manage your Super using ATO online services through myGov.

You can also roll over your Super into your new chosen fund through myGov, or by requesting a form from your new fund. Most Super funds are more than happy to guide you through the process.

9. Check with your financial adviser

Finally, if you have any doubts along the way, or simply would prefer someone to help guide and educate you through the steps, then don’t hesitate to get in touch.

We’re here to help you set goals and plan for retirement – and choosing the right Super fund is a big part of that.

We can also run you through the full list of Super options – including self-managed Super funds (SMSFs), MySuper and Industry Super Funds – to see which one is right for you.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

5 ways to combat current property market conditions

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Australia’s housing market might be on a bit of a downward trajectory, but that doesn’t mean the value of your home can’t buck the trend. Here are five ways you can increase the value of your property, without necessarily increasing your monthly mortgage repayments.

You’ve probably seen a whole bunch of doom and gloom about the property market being in a slump.

First off, rest assured that it’s not the end of the world.

In fact, national dwelling values have simply returned to September 2016 levels, according to recent CoreLogic figures.

The good news is that with a bit of elbow grease and hard yakka you may be able to make that back up.

Here are five affordable suggestions for doing so.

1. Gardening and landscaping

It’s time to get those hands dirty.

One of the fastest ways to instantly increase the ‘wow’ factor of your property is to give it a good manicure.

Trim any overgrown bushes, mow the yard, apply grass seeds where there are bare dirt patches, plant some new flowers and plants in the garden bed, and ensure the fence is looking top notch.

If you don’t have the tools for the job, or you’re simply more of an indoors person, consider hiring a landscaper to help out.

You can opt for a well known local professional out of the Yellow Pages, or save some coin by taking a punt on a young person looking to grow their reputation through Airtasker.

2. Indoor plants and artwork

One of the best ways to make the interior of your house feel fresher and more lively is to decorate each room with a bit of greenery.

Pot plants are fantastic because they’re low maintenance, make your place look great, and are great for your health.

Here’s the real kicker though: rather than leave them behind, like most other things on this list, you can take them with you when you sell your property.

The same goes for artwork. It too can make your place stand out by giving it a bit of character, and it’s not like you have to fork out thousands for an original Rembrandt or anything of the like.

There are thousands of talented local artists selling art at affordable prices – and remember, it’s all subjective. Back yourself to pick out a good artist who appeals to you!

3. New carpet or floor polish

Nothing looks as dated as stained carpet, scuffed floorboards, or old and chipped tiles.

Having a fresh platform for a prospective buyer to stand upon can make a big difference when it comes to their mindset.

If the floor they’re standing on is dirty and dated, they’re very likely to wonder what’s wrong with the aspects of the house that they can’t see.

If it’s within your budget, definitely consider giving this part of your property a makeover before inviting potential buyers inside.

4. Bathroom bonanza

The bathroom will attract about as much scrutiny from a prospective buyer as any other room in the house.

The last thing you want is for some grime, leakage or mould turning off someone who’s happy with every other aspect of your property.

If your bathrooms are moderately new and not too dated, pay some professional cleaners to come in and get the place sparkling.

You don’t need to rip the whole thing out and spend $15,000 on a complete retrofit either. A simple paint job is sometimes enough.

However if your bathroom is looking pretty dated – and your budget allows for it – consider installing just some of the essentials: perhaps install new sinks, updated countertops and cabinets.

Also, ensure the taps and shower head are shiny and not leaking, and the toilet is modern and not flushing money down the drain (indoors, the shower is typically the biggest contributer to water bills at 34%, followed by the toilet at 26%).

5. Your Kitchen Rules

Not far behind the bathroom in terms of scrutiny is the kitchen.

Once again, there’s no need to rip out the whole kitchen and fork out an arm and a leg.

Look at ways you can revitalise it on the cheap: you could replace old cupboards and pantry doors, upgrade the bench tops, and make sure the taps and electrical fittings are in tip top shape.

And don’t forget that the kitchen appliances you have out in the open are also acting as decorations.

If they’re old and outdated, they could bring the rest of the kitchen sagging down with them. Once again, if you have to buy new appliances, at least you can take them with you!

Final word

Remember that property improvement shouldn’t cost you more than the value you’re hoping it will add.

It also helps to think of some of the above ideas as adding to your investment – not an expense.

If you’re unsure where to start, or would like some extra tips, don’t hesitate to get in touch.

We understand precisely what buyers look for in a home and investment property respectively, and would be more than happy to help out.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

How to avoid getting bamboozled by a pesky salesperson

We’ve all done it. In a moment of weakness, a dodgy salesperson has persuaded us to hand over our hard earned money for a purchase we didn’t really need, let alone want. Here’s how to politely rebuff a salesperson’s pressure tactics.

Whether it was a shiny new car, sports or leisure gear, or simply an impractical pair of shoes – we’ve all been guilty of making a luxury purchase that we didn’t really need in our lives that knocked our family budget off course.

Below are some classic salesperson techniques to avoid, as well as some tried and tested strategies you can use to prevent yourself falling victim to them.

1. “You’re in luck, this is our last one.”

This line and those similar to it are used to create a sense of urgency or FOMO (fear of missing out).

It’s usually delivered as a closer to ensure you make a purchase then and there on-the-spot.

It will usually be followed by something along the lines of: ‘How about I take it up to the counter for you so no one else buys it while you’re making your decision’.

Online stores will use a similar technique by displaying “only 2 items left in stock!” next to the ‘checkout’ button.

Rest assured that if you ever hear or see something along these lines, then chances are there’s more stock. And if there isn’t, rival businesses or a nearby franchise will most likely have them available anyway.

Other variations of this tactic include “this is a one-time only offer” or “our sale ends today”.

2. “Here’s a little something to say thanks”

If you ever receive a gift for “free” while you’re deciding on whether to purchase an item (or after you’ve attended a seminar), then there’s every chance that it wasn’t intended to be given to you for “free”.

Rather, its main purpose is to make you feel obligated to purchase something else.

So if you ever receive a free gift, remind yourself that it’s just that: free.

You owe the salesperson nothing in return.

Variations of this method include “I can do this just for you” and “don’t tell my boss, but…”

3. Just because you like them, doesn’t mean you need to purchase from them

Most salespeople are very personable. There’s absolutely nothing wrong with that, and I’m sure most are decent, down-to-earth people just trying to make ends meet for their own family.

But remember: just because you like someone doesn’t mean you have to purchase what they’re pushing, or trying to up-sell.

For this reason, it’s important that you try and separate the two and ask yourself:

“Do you actually need the product?” Or are you being peer pressured by a charming person into making a purchase you can’t actually afford?

4. How to take the pressure off

We’ve all experienced a situation where we’ve decided we aren’t going to purchase something, only for the salesperson to somehow pull it out of the bag and get us signing on the dotted line a few minutes later.

Here’s a good response to give yourself some breathing room so that you can go home and research whether the product is dodgy, a lemon, or simply not very competitive:

I never purchase on the spot: “Thank you very much for your time today. I have a rule that I never break, which is to never buy or sign up to something on the spot. Can I please have your card so that I can make a decision with my (partner, mother, best friend, more research) please?”

This excuse works well because the salesperson most likely gets paid on a commission basis. By taking their card they feel they’ll still be the employee who gets the commission, should you buy the product.

And if they’ve offered you a “special deal”, get them to scribble it down on the card.

5. Finally, be firm

By now the salesperson may have built up a rapport with you, which can mean two things: a) it’s harder for you to be firm with them, and b) they’ll try their luck being a little pushier with you.

With that in mind it’s essential that you respond firmly.

Once you’ve asked for time to make your own, independent decision, stick to your guns.

Because while the salesperson might now be all chummy with you, remember that it’s highly unlikely the two of you are going to strike up a long-term friendship where you’ll meet every week for coffee or beers and discuss footy, children, grandchildren, etc.

Finally, remember that it’s your money. Money that could be better off going towards your kid’s education, your mortgage, or buying a superior product that you just haven’t gotten around to properly researching or saving for yet.

If you’d like to find out any more budget saving strategies, get in touch, we’d love to help out!

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.