Podcast appearances and mentions of jayden vecchio

In Episode 209 of the Brisbane Property Podcast, Scott and Melinda are joined by Jayden Vecchio from Hunter Galloway to provide expert advice for first home buyers. Jayden discusses the ins and outs of the first home buyer market, including government incentives like the First Home Owner's Grant, the Home Guarantee Scheme, and the First Home Super Saver Scheme. He also covers common mistakes, the benefits of guarantor loans, and offers practical tips for navigating the property market. Tune in to learn about: The First Home Owner's Grant and its eligibility criteria The Home Guarantee Scheme and how it helps first home buyers The First Home Super Saver Scheme and its tax benefits Stamp duty concessions for first home buyers in Queensland The role of guarantor loans and how parents can help Common mistakes first home buyers make and how to avoid them Practical advice for first home buyers entering the Brisbane market   Subscribe to stay updated with the latest episodes and gain expert insights that can guide your investment decisions. Subscribe on Youtube https://www.youtube.com/channel/UCW30uBCnHQ2YllnwGKHNfxg Listen on Spotify https://open.spotify.com/show/5tODCtY54iQrxadNqqmevs Streamline Property Buyers Website https://streamlineproperty.com.au/ Ready to work with us directly? https://streamlineproperty.com.au/contact/ Learn more from Hunter Galloway: https://www.huntergalloway.com.au/first-home-buyer-loans/ Listen to this insightful episode to understand the intricacies of Brisbane's property market and equip yourself with the knowledge to navigate it effectively.  

Each year it seems like it becomes harder and harder for first home buyers to get a foot in the door.  Bucky chats to a real estate expert about when to buy and how much you actually need to put down - and a financial planner gives her best tips on how you can save for that deposit quicker.  Jayden Vecchio is a mortgage coach at huntergalloway.com.au Host: Andrew Bucklow Producer:  Hareem Khan Supporting Producer: Nina Young Audio Editor: Tiffany Dimmack See omnystudio.com/listener for privacy information.

Welcome to Finance & Fury. Today we’re talking about 9 reasons you may have your home loan application declined. We have Jayden Vecchio this episode running through the 9 reasons.  As a result of the recent Royal Commission into banking, the lending criteria has become more strict to slow down the market there has been a limit set on lending. Small Deposit These days you will need 8-10% of the property value as a deposit to get a home loan…BUT, there are situations where you can use a guarantor to help you borrow up to 100% of the property plus additional costs. Best of all, you avoid paying lenders mortgage insurance which is usually payable if you have less than a 20% deposit.  Being over 45 years old Although there are laws (check out the Discrimination Act) to make sure banks don’t discriminate because of your age, these days it is common for the lenders to ask for an exit strategy in paying off your home loan if you are over 45 years old. This is because a 30 year loan term structure means the loan will end when you’re 75, and the bank wants to know how you’ll be paying the loan at that age. In effect, these restrictions can limit your mortgage options because of your age. While different banks have different policies, some common exit strategies for anyone aged over 45 years old are: Moving to a smaller house and downsizing once you reach retirement age Selling other investment properties, or shares. Releasing funds from your superannuation to pay down the loan. Recurring income received from your superannuation fund. Being too young Don’t worry the young people get grief too from the banks! You can’t apply for a home loan if you are aged under 18 years old, but did you realise that being aged under 25 can negatively affect your credit score? Being young you may have a very limited (or no credit history) at all to show you are a good borrower. Defaulting on phone bills could be the reason you get rejected. Spending habits When you apply for a home loan nearly all banks will want to see your last 3 months (Suncorp Bank want to see 4 months) day to day transaction account statements. If you spend a little too much at Zara, or at Dan Murphy’s on the weekend this could affect your home loan application. The banks will look into your monthly living expenses to determine if you can afford to make your home loan repayments. Under 12 months in a job Lots of banks will want you to be in your current job for at least 6-12 months to be able to borrow with less than a 20% deposit. In other words, if you are borrowing more than 80% of the property value (with lenders mortgage insurance) you will get your loan declined… Unless you work with a mortgage broker that knows which banks will lend to you if you have been in your job for less than 12 months. We work with some lenders that will lend to you even if you have just started a new job. If you have been in the same industry for a while now and your previous roles weren’t permanent positions, this can be overcome.  Being self-employed In a lot of cases, the banks will decline your loan if you have been self-employed for under 2 years. We are self-employed loan experts and work with several lenders that will consider home loan applications with people who have been self-employed for only 12 months. Same again as before, if you’ve been in the same industry for a number of years, this can help. There are lots of Mortgage Brokers (and banks) who are generalists and just find self-employed applications too hard. We have a team of credit experts and will help find a lender that will work with you. Being Self-Employed for under 2 years can mean instant home loan decline with some banks and lenders.  Buying a ‘difficult’ property It used to be the case that buying a unique property with a helipad caused issues… Unfortunately, the banks are being even more particular with what type of properties they will lend on. Some banks have restrictions to lending on units, others will restrict you based on bushfires, or flooding restrictions. In other cases, some banks will be ok with lending on apartments but have restrictions based on: The suburb or postcode where the unit is located, sometimes with restrictions based on high density or inner-city locations. How many floors the block of apartments has, sometimes with restrictions when it is higher than 4 stories. The total floor area inside the apartment, with restrictions if it is less than 40 square metres. If the bank already has too much lending in the building you are wanting to buy in. Regardless of these limitations, you can still get your loan approved by going with the bank that is happy with that type of property. Read More: How reliable is your pre-approval? The Flood Awareness Map lets you know what the history of flooding is at your property.  Bad Credit History A bad credit history in the eyes of the banks involves small defaults, bankruptcies, and judgments on your credit file. Defaults on your credit file as small as $100 can cause the bank to reject, or decline your home loan. As an example we’ve recently had a first home buyer who had a small phone bill that was sent to their old address, they moved and it was never paid. This first home owner never received the bill, and wasn’t notified of it being overdue because all the mail was going to the wrong address. As a result, the phone company put a default on their credit file for the amount owing and the first home owner didn’t become aware of this until they tried to apply for finance through their bank and got knocked back! Fortunately, they came to us, and we were able to help navigate around it and find a lender that would let them buy their dream home. From 1 July 2018 positive credit reporting is mandatory for all of Australia’s big banks, and they need to have at least half of their customers on the platform and by 1 July 2019, they need to show comprehensive credit reporting for all customers.  Too many loan applications If it wasn’t enough being too young, too old, or looking for a unique property, the banks also regularly decline home loan applications because you may have had too many credit enquiries in the past 12 months. In other words, if you have had more than 2 or 3 enquiries in the last 6 months the banks could give you a bad credit score, and reject your home loan. Fortunately, there are banks and lenders that will consider your application provided there are fair reasons for the credit enquiries. Our team regularly deals with these non-credit scoring lenders and can help find a deal that works for you. This concludes the 9 reasons why home loans are getting harder. If you’d like to get in contact with us you can by heading over to the contact page or on Facebook.

Welcome to Finance and Fury…today we have Jayden Vecchio from Hunter Galloway on the show, talking to us about 5 game changing tips for buying property especially for those who are looking to build a a decent property portfolio.   5 Tips for Building a Property Portfolio 1. Have a plan Many property investors think buying real estate as nothing more than sticking some money into an asset that is guaranteed to go up.  ‘Just get a foot in the door and you’ll make money from property’, they say. So, what about those investors that got their foot slammed after investing in mining towns? Or bought off the plan purely for tax benefits? Successful property investors have an investment plan in place. Like a business plan, they take time to research the market, educate themselves and deeply understand the numbers.  Do you have a goal of building an investment portfolio? As the saying goes, a goal without a plan is just a wish.  2. Don’t Follow the Crowd – Contrarian Investment Over the past year, it has felt like one day we are being told property is booming only to be told the next day we should start preparing for doomsday falls of up to 40%.  During the depths of the GFC, Warren Buffett said: “Those who invest only when commentators are upbeat end up paying a heavy price for meaningless reassurance.” The bottom line is following the crowd, or market commentators into the latest property hotspot based on what everyone else is doing is a bad strategy, and one that generally leads to property investors losing money over the longer term.  As Buffett says, insulate yourself from popular opinion. Do your own research, form your own opinion and build from there.  3. Alternative Strategies – Rentvesting Why can’t you live where you want, and invest where you can afford?  Example – Rent in Sydney $720 p.w. = $37,440 p.a. Or buy for $986,497 - 80% loan-to-value ratio over a 30-year term at 4.50% P&I, repayments are $1,022 each week, or $53,144 each year Interest $35,514 of this Plus, insurance, body corporate, rates, etc. In a rentvesting scenario, you could invest this difference Into another property, or, Look at diversification in the stock market, ETFs or fractal property investments like BrickX.  Understanding the numbers Australia’s richest property investor, billionaire Harry Triguboff (worth $12.77 billion), still takes time to review every sale and expense line of his property business.  Numbers to understand Cashflow in and out Banking lending/serviceability 4. Change with the times Property values work in cycles Harry Triguboff, who has been investing for almost 60 years. He had said: “If times are bad you buy land and by the time you have finished building times are good again.” The same is true with the lending market. Sometimes it’s easy to get investment loans, sometimes it’s hard.  At the moment the reality is the royal commission is causing the banks to take a more conservative line on lending.  Smart investors are adapting to this by understanding the following three points Live credit scoring is now out. Positive credit reporting is being used by the banks, and they can now see your repayment history from the past two years. A missed repayment 14 months ago could affect your ability to borrow. Get your credit file to know where you stand.   Reduce your monthly expenditure. Banks are looking at what you spend each month, and will reduce your borrowing capacity based on these figures. Talk with your mortgage broker about your monthly living expenses and consider working on a budget to keep them in check. A bank valuation is an opinion. When leveraging equity, three different valuations from three different banks helps smart investors get ahead. It’s not uncommon to see up to a 20% difference between valuations, and a good mortgage broker will help you navigate this.  5. Look at the long-term picture Warren Buffett: “Nobody buys a farm based on whether they think it’s going to rain next year, they buy it because they think it’s a good investment over 10 or 20 years.” Buffett decides something is worth investing in because it will last, not because it’s doing well right now. So many property investors are just thinking two or three years into the future or buy at the top of the market when FOMO is at its peak.  This comes back to having an investment plan in place. If you have a goal of building an investment portfolio or creating passive income of $100,000 in 10 years, put together your plan and start working on it today.  Talk with your mortgage broker or financial adviser about your investment plan, understand how different investment properties can affect your borrowing capacity and ultimately hold back your goals of building an investment portfolio.  

Our guest today is Jayden Vecchio, a director, and co-founder for Red and Co who was awarded the 2016 FBAA Commercial Mortgage Broker of the Year award. You may know Jayden better as the co-host for the very successful 'Rentvesting Podcast' aimed at Gen X and Y Property Investors. In this episode, we talk about Jaydens path to success coming into the finance world when the GFC hit in 2009 and the devastation that caused the finance sector in Sydney. We also chat about his journey with property investing, moving cities, starting a company as well as a podcast and many more things.

Jayden Vecchio is kicking goals. He’s won National Broker of the Year in 2015 and 2016 as the director of Red & Co, a finance brokerage that has settled over $380 million in lending over the past three years across Brisbane, Gold Coast and Sunshine Coast. Jayden is also behind the Rentvesting podcast, a show which sits comfortably towards the top of Australia’s business and property podcast rankings. Kym talks to Jayden about his business story, his deals including an $80 million property development, his creative property investment strategies, market trends, passive income and much more. Rentvesting podcast: https://www.therentvestingpodcast.com.au/ ALSO: You can now subscribe to the Accounting Insider VLOG on Youtube! https://www.youtube.com/channel/UC9WSkuOVDJsuFWRz832AlUw About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business structure advice for a tradesman, Kym uses his decades of experience to develop plans for prosperity. As a Fellow Chartered Accountant qualified in financial services and mortgage broking, Kym offers holistic financial advice. A big believer in disruptive technologies, Kym has also developed his own accounting software and is a Xero certified adviser. More than just an accountant, Kym is successful property developer, builder and business mentor. Applying the advice that he gives clients daily, Kym has turned his first property purchase into a multi-million dollar residential and commercial portfolio. And as a qualified builder, he’s not afraid to get hands on with his property developments. As a proven success, and with diverse experiences and expertise, Kym is also a respected mentor to a number of business owners and entrepreneurs. Fellow Chartered Accountant Bachelor of Commerce (Accounting) Bachelor of Economics Xero Qualified Certificate IV in Financial Services Diploma of Mortgage Broking Management Credit Representative of BLSSA Pty Ltd Want to connect with Kym? Visit http://accountinginsider.net & http://nitschkenancarrow.com.au Produced by Apiro Consulting. Visit http://apiroconsulting.com