25 MINS

Learn How To Avoid A Triple Run Of Horror Tenants with Ben Everingham

August 02, 2017
MP3

In this episode of Property Investory, you will learn from business owner and director Ben Everingham’s experience with property investments. Scenarios fluctuating from profitable to tenant horror story, his less than smooth ride on the property investment train has not slowed him down in his pursuit to set his family up for life.

From Everingham you will learn how to seize every opportunity – from taking a variety of different jobs and meeting with some inspiring role models, to being transfixed by a life-changing book. You will discover that while investing in property isn’t always a bed of roses, the rewards far outweigh the risks.

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In this episode, here’s what you’ll learn:
  • 01:02

    What is typical working week for Ben Everingham.

  • 05:22

    Where Everingham grow-up and his personal story. He shares his competitive school, sports and the things his father taught him.

  • 12:36

    Ben Everingham’s journey on how he became a property investor.

  • 15:16

    Everingham shares a real life story – a property investment tragedy which even made the local news in the Central Coast.

  • 20:24

    Despite his struggles, everything fell into place for Everingham.

  • 21:58

    Everingham was inspired by Phillip Anderson’s book, The Secret Life of Real Estate and Banking.

  • 23:17

    What Ben Everingham is excited about.

Mentionable Quotes and Shareable Snippets

Transcript Excerpt:

Ben Everingham:
Probably one of the most conservative people in the Australian property market that’s actually still buying property. You know, there’s five things that are very important to me and in that service the foundation of what I think every successful portfolio engaged in the number one thing is timing the market.

Tyrone Shum:
In this episode of Property Investory, you will learn from business owner and director Ben Everingham’s experience with property investments. Scenarios fluctuating from profitable to tenant horror story, his less than smooth ride on the property investment train has not slowed him down in his pursuit to set his family up for life.

Tyrone Shum:
Everingham’s typical working week is structured around strategy sessions, shooting videos for a podcast and working with clients.

Ben Everingham:
So my day is extremely regimented I suppose because I’m a father and live on the Sunshine Coast with my wife I’ve got two little girls up here. So my thought process is you know the time that I take away from those girls needs to be put to it’s absolute best use. So on a given day at the start of my week obviously plan my week and the things that I’m looking to achieve over that period of the week.

Monday is generally catching up with the team and setting up for the week reviewing the previous week and then the marking started my business which I love. Like the shooting the video in the podcast and the cool stuff like that.

A Tuesday would be catching up with clients in what we call our strategy sessions where we we talked with people for an hour and find out where they are and where they’re looking to go and so I might do those conversations back to back from 8:00 am to 8:00 pm. And then on Wednesday is working with existing clients in the team and reviewing the properties that we’re looking at that week.

Thursday is a little bit the same, working with clients. Then a Friday is kind of the getting to everything that’s left in the wake and finish off all of those things that I haven’t had time to do, type thing. So you know a general day the same way that everyone starts planning the day, getting the emails, and then I focus on one or two parties or tasks per day. Those are those big rock type things just so that I can knock them over.

Tyrone Shum:
As a director of several successful businesses, Everingham also owns a property management business which has steadily expanded over time.

Ben Everingham:
One of those businesses is pumped on property where a buyer’s agency buys between 50 and 70 million dollars worth of property per year in Australia. And I also own a property management business which manage our clients’ properties. We bought them for them.

I suppose you know our philosophy with our business is very simple. We only take on 10 new clients per month and you know we can get into a lot of what I like to buy personally later on in the podcast. But yeah, it’s been a great little business and obviously a whirlwind in terms of the growth over the last couple of years as well.  

Tyrone Shum:
Everingham describes himself as conservative when it comes to purchasing property. He believes the most important thing is the right timing and long-term capital growth, along with gradually adding value to each property.

Ben Everingham:
Probably one of the most conservative people in the Australian property market that’s actually still buying property. You know there’s there’s five things that are very important to me and in that service the foundation of what I think every successful portfolio – the number one thing is timing the market.

An example I’d give would they anyone that’s bought in Sydney or Melbourne in the last five years now knows the type. The power of timing the right market at the right time and riding that capital gains way up at the right time of the cycle. The second most important thing to me outside of timing is obviously consistent long term capital growth, which means targeting major metro markets. From my perspective the next thing that’s very important to me is buying the property that you can add value to over time so that if the market stops performing or goes backwards you’ve got a way to continue to build your portfolio which might mean subdivision’s duplexes renovations etc. And then the fourth thing that’s very important to me now especially as I become more mature investor is above average returns of good cash flow.

And you know with the recent changes in lending in 2017 – during that time and recording this broker is becoming increasingly difficult for certain investors in the market to borrow money. So it’s important to have a strong cash flow position, and I like a lot of the people that listen to this podcast and money and pay tax on that money.

So I do like to have some form of taxable benefit with the properties that I buy as well.

Exclusive bonus: Click here to get the full transcript of Ben Everingham interview that will show you all the links and resources mentioned inside this episode.

Show Notes and Other Memorable Moments:

Thanks a million for checking out this episode! Below are the websites and other tidbits that were mentioned in today’s podcast with Ben Everingham. If you have any questions, feel free to leave a comment  below and I’ll respond right away!

Show credits:

This episode was produced by Alex Cooper with narrations and interviews conducted by Tyrone Shum.

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