Finance & Fury Podcast

How to not get screwed over in property, the warning signs of scams and how to do your property research Warning signs of scams Off the plan/cold calling companies Buying off-the-plan, or purchasing a property that has yet to be built – The time between the sale and completion and settlement of the dwelling means that "buyers are essentially paying today's prices for a product in tomorrow's market" Makes sense in what looks to be a rising market – most off the plan are oversupplied at the moment though Likely be overpaying Inbuilt commissions of up to $40,000 Sales tactic of reciprocity – “I do something nice for you, so you feel the need to do something nice for me” Can blind to shortfalls in a property Free trips/offers with the property Sales pitches – Tax breaks, gurantees on rent and future growth Government concessions – FHOG Negative gearing/tax breaks being the focus point of the sale If tax is the only gain from the property, then look elsewhere No point paying $12,000 into a property t