Chris Bates

speaker

1,659 appearances 5 recordings 1 series first heard Jun 2021 last heard Dec 2022

Chris Bates’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Property investing strategies (advanced) with Chris Bates · 4 Oct 2021 podcast

So a bit of playing to the market as well.

So we were like, what can we do to this property to solve issues with it that the market wouldn't like, i.e.

our landscaping and our backyard.

It was a big deterrent for a lot of families, but now we've created it into where families are going to love it because there's lots of flat grass and there's decks and these sort of things.

And also the market we're in, we're pitching to a certain type of target market and, you know, and we can elevate it from a certain point to hit a different target market by creating a different product, I guess.

And so one thing is maybe overcapitalizing, but you also potentially can

lift your property into a new bracket by changing features on it.

Maybe it's bedrooms or whether it's the appeal of it from the street or et cetera.

So the other thing with overcapitalizing as well is that you can, the market can save you.

So, you know, if a market shifts from a different type of buyer pool, which is happening at the moment, where as prices of properties rise, different people can afford them.

and different people move to suburbs because of different suburbs at different prices, et cetera.

And so fortunately, our area has shifted to a much higher price point as well.

So we're already renovating for that higher price point, if that makes sense.

And so if that market change didn't happen, then we probably have overcapitalized because we would have been an expensive property for that target market and there's other options as well.

It's a really good thing you got to be careful with.

I think we got saved by the market moved, not by good planning.

So I don't think it's shares or property.

I think it's just a sequence and a stage of life thing.

Like if you're 20, you should potentially be looking at shares to maybe save for a house deposit.

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