All Things Property Investing
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It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia.
And welcome to another episode of The Real Estate Podcast. We're talking to Jane Slack-Smith from Investors Choice Mortgages.
Thank you, Craig. Thanks for having me.
Hey, nice to have you on. I guess the first thing I'd like to find out a little bit more about is the Investors Choice Mortgages. I think that's probably a great place for us to start. Jane, tell us all about it.
Well, it is a great place to start because obviously finance is the vehicle that allows you to buy the properties and properties are the vehicle that allow you to have your financial security. So it all works together beautifully.
So just how much has this grown and over what period of time your investors choice mortgages?
Yeah, well, look, I guess it all goes back to the start and why I started Investors Choice back in 2005. So it's hard to believe, like, you know, 16 plus years I've been doing this. And it really came from the fact that I had really wanted to understand the property market. And as an engineer, you know, I was a mining engineer myself. I was a specialist in explosives and I thought, you know what, I can hack this. I'm sure there's a way to understand the property market. So I looked at all the suburbs in Australia. I looked at the data on what suburbs had outperformed the others over the last 10 years. I then put in some low risk factors because I didn't want to get it wrong.
What is the focus of Investors Choice Mortgages?
So things like, you know, percentage of renters, vacancy rates. And out of that popped a number of suburbs. So my husband and I started investing. I was a bit of a scaredy cat. I had a three prong attack, you know, buy below the market to make money when I bought, buy in a capital growth area to make money in the long term, but also then renovate to make money in the short term. increase the equity in the property to be able to do it and do it again. And this just worked for us. So I taught my friends and it worked for them and they created multi-million dollar portfolios. And I was like, I need new friends. And the only way I could get property indemnity insurance to tell people about how and where to buy strategically was as a mortgage broker.
So I didn't wake up one day thinking, hey, this is the best job in the world. I woke up one day and how can I get this message out there? And mortgage broking allowed me to do that.
And what have you found over, let's say, the last five, six years? Because the market has changed so much, and particularly now where we've still got the pandemic going on, the way that the prices have escalated so rapidly.
Yeah, look, it's a really interesting time. And I'm a student of history, so I like looking to the past to help me predict the future. And I have to say, when ASIC and APRA came in and started putting some constraints on the market, 2017 onwards, that felt really hard because you know we were going pretty hill for leather and you know they pulled back the integrity of the market and really allowed people to have the time and consideration of making really good decisions because I was seeing at that stage you know a lot of people making very silly decisions and there was that whole fear of missing out and so when I was doing You know, my team would do the borrowing capacity for the clients and then I would do the strategy session and bring in the integrity of where they could buy and if they were agnostic looking anywhere in Australia for the best suburbs and then, you know, giving some education around how to risk that.
People were coming with, you know, one-bedroom units in the middle of a block of flats. 2,000 of them, I was like, oh, this is not really going to get you the growth and the vision that you want. So a lot of the conversations turned around that really strategic where to buy and what to buy. And I found that the integrity of data and the democratisation of data has allowed people to have on tap, better quality information to ask better quality questions of agents, buyers, agents and themselves about why they're buying.
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