The Australian Dream Is Dead - Graeme Holm #143
Notas do episódio
Graeme Holm says the gap is going to get wider, and that most people arguing about it online will still be renting in ten years. He also explains the two interest rates on every loan document, and why the one the bank advertises is not the one you actually pay.
Graeme Holm is the founder of Infinity Group, one of Australia's largest independent finance broking businesses, and has been in lending for more than 25 years.
What you will learn:
- The difference between the advertised rate and the comparison rate, and why he argues the second one should legally be called the actual interest rate
- Why most borrowers never notice they are paying 8 to 12 thousand a year off principal while the rest goes to interest
- How to get a bank valuation before exchange, and what that does to the equity you can pull
- Why he will not take on the maintenance risk that comes with an older home
- The 24 month spending reset he tells people to run before they try to buy anything
Chapters
00:00 Why the disparity is going to get worse
04:35 One property or two, and what a 20 percent deposit actually buys
08:19 The 105 percent home loan, and who would take no deposit
12:21 Agents arriving with the suit and the car on finance
16:40 Whether the settings quietly help institutions in
20:17 Leaving Sydney and moving the money to southeast Queensland
23:47 Getting a good valuation, and when equity unlocks
27:17 Minimum repayments, and what sits behind the curtain
30:54 What a single income actually needs to borrow now
35:23 Parental guarantors and equity pledges
39:21 The comparison rate against your actual interest rate
43:07 The 200,000 sitting in a saver instead of an offset
46:55 Why he will not flaunt what he owns
51:07 What the room took away
54:38 Doing it for impact once you no longer need the money
58:17 What he sees coming out of the US
Graeme Holm knows which side of the gap he is on. Property should put you on the same side.
Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.
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Follow Graeme Holm:
◼️ Instagram - https://www.instagram.com/graeme_holm/
◼️ Infinity Group - https://www.instagram.com/infinitygroupau/
Bothsides:
◼️ The weekly email - https://bothsides.au
◼️ Bothsides Buyers Agency - https://www.bothsidesbuyersagency.com.au
◼️ Dan - https://www.instagram.com/daniel_beardall/
◼️ Watch on YouTube - https://www.youtube.com/@bothsidespodcast
General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.