In this episode of the First Property Buyer Show, host Emilie Lauer chats with Melbourne-based auctioneer Andy Reid to break down the auction process, sharing practical strategies for first-time buyers to secure their dream home.

Recognising that auctions can be daunting for newcomers, Andy demystifies the process with a “101” approach that covers everything from preparation to state-specific nuances.

The duo acknowledges the emotional intensity of auctions and recommends reducing stress through thorough preparation, setting a clear budget, visualising the first moments, and plenty of practice.

Given the popularity of auctions in Australia, Andy urges first-time buyers to observe as many auctions as possible to become familiar with the format and atmosphere.

For successful bidding, he highlights the importance of confidence – speed, volume, and tone can intimidate other bidders – and suggests challenging increments to gain an edge.

He also reminds buyers that winning an auction means acting fast, with an immediate deposit and contract signing, so being sure of their decision is crucial.

Andy wraps up by encouraging buyers to ask questions and seek guidance, underscoring the need to enjoy this exciting milestone in their home ownership journey.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with founder and CEO of InvestorKit, Arjun Paliwal, to discuss how couples can successfully invest in their first property together.

The duo starts the episode by reflecting on Arjun’s journey, who bought his first property at 22 to build a $20 million portfolio with his wife, emphasising the need for the couple to work as a team and invest in building strong careers.

When investing as a couple, Arjun advises clear division of roles and mutual trust are essential to avoid conflict and streamline decisions, with both partners aligned on goals but focused on their respective strengths during the process.

Arjun also advises couples to have clear communication about finances with safeguards like buffers to help them manage risks and build confidence.

He suggests planning for worst-case scenarios to protect assets in the event of a relationship breakdown.

The duo also discusses investment strategy, with Arjun suggesting using data-driven tools, being aware of location, and rentvesting strategies to buy their first property.

In this episode of the First Property Buyer Show, host Emilie Lauer sits down with real estate agent Paul Davis from First National Real Estate Daystar to dissect each step of buying a property while clarifying inspection processes and real estate jargon.

The duo starts exploring potential buyers’ journey, with Paul highlighting the importance of securing pre-approval first to ensure buyers know their budget and are financially ready.

Paul warns against revealing budgets to agents, which may weaken negotiation power.

During property inspections, buyers should carefully check the building’s condition and obtain pest and building reports. For strata properties, understanding the strata report and consulting a solicitor is crucial to avoid hidden costs.

The next step of making an offer involves submitting a formal, written bid, typically including a small deposit and a cooling-off period.

Finally, settlement marks the official transfer of ownership, concluding a journey that requires education, patience, and professional guidance

Paul encourages patience, noting that missing out on properties is common, but persistence pays off.