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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Appearances
Australian Finance Podcast · Property investing strategies (advanced) with Chris Bates · 4 Oct 2021
podcast
Like this is what a lot of our parents and our parents' parents, you know, perpetuate in society, you know, the media does, et cetera.
One of the things is rent money is dead money.
I completely don't agree with that.
Reality is rent gives you a social benefit.
You get to live in that property and somewhere to sleep at night and shelter and a lifestyle benefit of that space.
And so rent is actually giving you something.
It's not dead money, right?
And the same thing is to think about mortgage interest.
That's dead money too.
That goes to a bank.
Yes, it allows you to hold the property,
but it's also dead money.
And so whenever someone's thinking about buying a property, we've also got to really reframe them as to what they need to be thinking about with the property is the interest is dead money, right?
It's money that's gone to the bank.
And when you're thinking about what your repayment is, you really need to split it down to, let's say your repayments are $3,000 or $4,000 a month.
Like what portion of that is interest, right?
And that might be half or it might be 60%, right?
And then what rent am I saving by not renting?
And how is that comparing to the interest?
And then the actual other part of the payment that you're paying to the bank each month is actually savings.
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