Matt Srama's figure is that the average Australian owner occupier spends eight to nine months looking for a house, and that his own team has that down to 49 days. His argument is that the months in between are the single most expensive thing a buyer does, and that it is almost never a lack of motivation.
Matt Srama is a former NRL player and the founder of Srama Group, a buyers agency covering the Gold Coast and Tweed Heads, built to seven figures in under three years. He bought his first investment property at 22.
What you will learn:
- Why staying out of the market costs more than buying in it, and the paralysis that keeps motivated buyers on the sidelines
- Why he pushes hardest when everyone around him has low urgency, and what high urgency does to the price you pay
- The four distances that set a Gold Coast price: barefoot walk, shoes, e-bike and car
- The one question to ask a selling agent that has nothing to do with price
- What a bridesmaid suburb is, and the ones he names around Burleigh, Southport and Mermaid Beach
Chapters
00:00 The best time to buy is when nobody else feels urgent
03:03 Reading gentrification off the commercial precincts
09:07 Barefoot, shoes, e-bike or car: four price points to the same beach
12:07 A fair price for a good property beats a good price for a fair one
15:11 The most expensive thing buyers do is stay out of the market
18:16 Price, condition and location, and where owner occupiers get stuck
22:50 Nine months of searching against 49 days
24:47 The positioning and urgency quadrant, and the buy zone
27:25 Manufacturing a deal when nobody else is bidding
31:00 A discount on a shirt excites you. A discount on a house scares you
35:21 Buying the owner occupier now, and the tax free upside
37:25 The Gold Coast sweet spot between 1.8 and 2.6 million
41:27 The question to ask an agent that has nothing to do with price
43:28 Bridesmaid suburbs, and where the ripple lands next
49:31 The due diligence people skip
53:32 There is no forever home, only the home for right now
55:35 Lazy equity, and buying in a company to keep serviceability
1:09:45 Granny flats, and value that comes from the cash flow
1:17:37 The cost of the goal you say you want
1:22:39 Off market does not mean a good deal
Matt Srama's team buys in 49 days what takes most people nine months. Property should work the same way.
Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.
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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.
