How to Pay Off a 30-Year Mortgage in 7-10: Graeme Holm #60

Graeme Holm's numbers: borrow 500,000 over thirty years at current rates and you hand back around 1.14 million, most of it interest. Do the same loan in ten and he puts the interest at one or two hundred thousand. He also argues that keeping your old home when you buy the next one is the most damaging advice in Australian finance.

Graeme Holm is the founder of Infinity Group, which he started in 2012 with his wife Rebecca out of a lounge room in Port Macquarie after coming out of a divorce with, on his figure, 248,000 dollars of debt. This is the first of his appearances on Bothsides.

What you will learn:

- Why he argues an offset account does not do what most people think, and the psychology he says makes it fail

- What 500,000 over thirty years actually costs on his numbers, against the same loan paid down in ten

- Why he says there is no such thing as a minimum repayment, and what interest calculated daily really means

- His case that keeping the old home caps you at two properties, and what selling it does to your borrowing capacity

- Why he charges a fee before anyone becomes a client, and sacks the ones who will not follow the structure

Chapters

00:00 A housing commission kid, and where the drive came from

01:45 Selling roses back to the woman he took them from

05:13 Rebuilding himself after testifying, and being ready to quit

06:59 Stop buying your kids what you never had

08:42 A divorce, 248,000 of debt, and the house that came after

15:35 What he says the big four make per adult in the country

17:18 Buy and hold is not a strategy, it is just time in the market

19:20 Why you should not copy your parents, or your sister

24:14 Becoming the personal trainer for your finances

29:25 What half a million over thirty years actually costs

31:10 There is no such thing as a minimum repayment

34:37 Offset against redraw, and the psychology underneath both

36:22 The regulator finding he keeps pointing back to

39:52 Why he says most of his own industry does not know this

44:39 Never keep the old home, and the maths behind it

55:28 Personal branding, and deliberately alienating half the room

01:09:17 Eight hundred people in black tie, and 158 awards

01:14:31 Community events instead of door knocking

01:29:15 Why everyone needs mentors, including the runner who comes last

Graeme Holm turns a 30 year loan into a ten year one. Property should work the same way, paying you back faster.

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.

Get the free guide: https://go.bothsides.au/score

Follow Graeme Holm:

◼️ Instagram - https://www.instagram.com/graeme_holm/

◼️ Infinity Group - https://www.instagram.com/infinitygroupau/

Bothsides:

◼️ The weekly email - https://bothsides.au

◼️ Bothsides Buyers Agency - https://www.bothsidesbuyersagency.com.au

◼️ Dan - https://www.instagram.com/daniel_beardall/

◼️ Watch on YouTube - https://www.youtube.com/@bothsidespodcast

General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.