Property investment from the perspective of a textbook millenial, with Damian Hoar – Ep. 73
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For the latest episode of this bonus series of the property investing journey, Mike is joined by Mortgage Broker and co-host of The Finance and Property Survival Guide podcast, Damian Hoar, who shares his experience of getting on to the property ladder and the sacrifices he had to make along the way.
As a 26-year-old who’s recently uprooted his life to purchase a property in regional Australia, Damian understands the challenges that young people encounter in buying a home. Damian co-hosts his own podcast with his dad, David Hoar, who he credits with teaching him about property and finance from a young age.
In this episode Damian takes a balanced approach to the battle between Millenials and Baby Boomers, recognising that there are two sides to the property equation. Damian details his own approach to entering the property market, and notes that it comes down to individual priorities and the sacrifices that people are willing to make.
Damian acknowledges the assistance he has received from family and also by way of the First Home Owner Grant, and explains why it’s important to him to get ahead early in life. Mike and Damian also discuss the future of property in Australia and consider whether the dream of home ownership will give way to long term rental models that are seen overseas.
This conversation gives a great insight into the challenges facing the younger generation, and opens the dialogue on what, if anything, can be done to pave the way for more affordable housing solutions. Mike and Damian’s chat is laid-back and practical, with some gems of wisdom for anyone trying to get ahead in their property journey.
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Mike is joined by Mortgage Broker and co-host of The Finance and Property Survival Guide podcast, Damian Hoar, who shares his experience of getting on to the property ladder and the sacrifices he had to make along the way. As a 26-year-old who’s recently uprooted his life to purchase a property in regional Australia, Damian understands the challenges that young people encounter in buying a home.
What we cover in this episode
Property from the perspective of a textbook millenial
The challenge of getting on to the property ladder
Saving money in an era of digital advertising
Making sacrifices and relocating to get ahead
Is owning a home still the Great Australian Dream?
Who’s at fault – Millenials or Baby Boomers?
What does home ownership look like in the future?
“I grew up in a family where my dad taught us a lot about finance quite early so the possibilities of getting into the property felt more realistic than perhaps a lot of people my age” Damian 2:21
“it’s pretty hard to save money when you’re just inundated with advertising to buy things all the time. I feel like that’s a conversation we never want to have” Damian 4:35
“I am trying to tread a line here where I have enough so I’m financially free to do what I want to do which is probably still work in a job that I enjoy but I want to have a life” Damian 8:36
“I can work from anywhere as long as I have a Wi-Fi connection, that definitely worked in my favour but it also works in my favour that I was willing to move my entire life to a country town in the middle of nowhere” Damian 11:22
“If I do it earlier hopefully I can chill out a little bit earlier, that’s the goal at least” Damian 17:20
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The Geared for Growth property investing podcast was created by Mike out of a desire to provide value to his property investor clients. The idea is to source Australia's leading property investment experts and find how they and their clients are achieving exceptional results. The podcast is open to anybody interested in learning how to invest and the strategies you can apply to achieve exceptional results. You'll hear from buyers agents, mortgage brokers, strata managers, accountants and other professionals all sharing their insider knowledge.