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Today the Trio roll up their sleeves and tackle first-time property investors and family planning. A special callout to our lovely listeners, "Sheree" and "Chloe" (not their real names), for prompting this insightful episode.

Why do first-time investors often consider helping their children onto the property ladder? Cate and Mike discuss Sheree's situation, where family planning meets wealth-building.

Cate highlights the unique challenges and strategies for investing with a long-term goal of aiding children, even when they're still in primary school. 

Cate dives into key considerations such as the structure of the investment, future financial implications and the need for expert advice. Whether it's about protecting the asset, tax-effective planning or ensuring the investment is a gift and not a burden, the duo unpacks what parents need to know before buying property for their kids.

Mike emphasises the importance of planning for retirement first before taking steps to support children.

They explore how defined benefit super funds like Sheree's provide a foundation of financial security and why this can influence property investment decisions.

Chloe’s question focuses on planning her first property investment. She impresses the team with her detailed groundwork—budgeting, borrowing and cash flow planning.

Cate underscores the importance of clarity around long-term goals: Is it about building a multi-property portfolio or securing a single growth asset? This distinction guides every next step.

The team debates whether to go for national versus local expertise when selecting a property, with Cate advocating for local buyer's agents who deeply understand their markets. She also highlights the risks of analysis paralysis and the elusive "perfect property." Instead, they encourage focusing on sound fundamentals and a strategy aligned with future aspirations.  

..... and our gold nuggets!

Mike Mortlock's gold nugget: "The more work you do on your strategy, the fewer options—and more clarity—you'll have for making the right decision."
Cate Bakos's gold nugget: "When you're helping your kids, always ask: Is it a gift or a burden?"  

Show notes: https://www.propertytrio.com.au/2024/11/25/first-time-property-investors-family-planning/