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01/10/2019
Real Wealth Australia has made it easier to educate prospective investors for a better deal. Helen Collier-Kogtevs to get their advice on how to invest in their property investment.
YIP: What do you think separates Real Wealth from other educators?
Helen Collier-Kogtevs: Our first big difference is that we do not offer real estate. I'm all about education – and only education. Lots of other companies in the industry say the same thing, but after spending a lot of time they are actually selling a lot of way. It's something I've experienced myself. When I was learning to be an investor and being mentored, some of them tried to sell me real estate, which I did not appreciate. And so I vowed I would never do that.
The second big difference is that we offer genuine one-on-one mentoring. It's not one-on-the-masses mentoring via webinars or classroom – this is mentoring that's hand-holding, personalised and tailored to the individual, which is what I wanted when I was a student. When I was looking to become a mentor, I was a step-by-step format that anyone could follow; I did not want to make it complicated. I would like to learn that I could teach anyone, from adults to children.
Investing vs Buying a home
One of Helen Collier-Kogtevs' key principles of investing is the importance of learning how to discriminate between buying and selling. Too often, prospective investors succumb to the desire to buy a property that they would like to live in, rather than considering the wider implications.
"If you want to buy a house, that's easy. Anyone can buy a house, "she says.
"But building a portfolio is complex, and it requires strategic thinking. It's not just a simple investment in a development or a deal – you need to systematically piece things together to see if they meet your future outcomes. "
Collier-Kogtevs stresses that further analysis is required Considering longterm income goals, planning retirement age and lifestyle choices is one of the most important factors in determining the quality of investment.
"Many new investors do not understand that you can actually use research and forecasting techniques to see what your property is likely to be going to look like," Collier-Kogtevs says. "That way, you can make an informed decision before going out and signing a contract."
YIP: What are some of the common mistakes you see potential investors making?
HCK: There are lots. I wrote a book about it – Biggest Mistakes Made by Property Investors and How to Avoid Them! But I'd say for newbie investors in the market the biggest pitfall is the 'follow the herd' mentality. Prospective investors could find themselves going with a charismatic host who makes outlandish claims like "the moon is the next hotspot" or "the moon is where you should be buying this type of property". Then they throw in lots of facts and figures to convince you. The fact is that a lot of people fail to do enough research and due diligence. A blanket, one-size-fits-all approach does not work. We're all different, and we all have different circumstances and different investing goals.
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"A blanket, one-size-fits-all approach does not work. We're all different, and we have different circumstances and different investment goals "
YIP: What do you think investors need to know before going ahead with purchasing property?
HCK: Potential investors will need to start thinking about where and how they spend their money, because they need to be accountable now. These days when they apply for a loan, the banks want to know everything. At least in part from the royal commission into banking and financial services, banks are starting to reel in a bit too tight on prospective borrowers too. For investors looking for a loan, working with a good broker in this situation can be really valuable; they can make the most of your chances of getting your loans approved.
YIP: Big picture, where do you think the Australian property market is going to be over the next few years?
HCK: Well, I do not have a crystal ball, but it's already cooled off, and I think that will continue over the next two to three years, possibly up to five. On the financial front, I think people are overreacting to the negative media, so they are a little bit nervous. However, I think when they realize that it's OK and the market is settled down again,
"Potential investors will need to start thinking about where and how they spend their money, because they need to be accountable now"
ABOUT THE EXPERT
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