Why Almost Nobody Uses an Offset Account Properly - Graeme Holm #69

Graeme Holm's numbers on himself: 248,000 dollars of debt in 2012, and a one bedroom unit bought off the plan for 200,000 with a deposit he had to borrow from family and friends. He also argues that almost nobody uses an offset account the way they think they do, and tells you exactly which statement to pull to check.

Graeme Holm is the founder of Infinity Group. This is the fourth of his appearances on Bothsides, recorded in the year he says he stops writing loans after more than two decades in finance.

What you will learn:

- Why he argues almost nobody benefits from an offset account, and what a redraw plus an actual budget does instead

- His case for buying property before starting a business, and what two years of business losses do to your borrowing capacity

- Why he says anyone telling you they pay no tax is broke, and what it really says about their spending

- The structuring warning: if you cannot service it in your own name, a trust has not made it affordable

- How the capital gains discount works on a property held more than a year, and what he does with it

Chapters

00:00 The fourth in the Graeme Holm series

01:42 Twenty thousand followers to seventy, and what he actually did

08:35 The website is curated, the socials are not

16:32 Job stands for just over broke

24:40 Your why has to be bigger than your why not

25:58 The six million dollar house he now calls ego

29:24 Everything in your life is a reflection of you

40:28 Outwork them, and who runs open homes on a Sunday

46:48 Saving a deposit with no bank of mum and dad

51:59 Share housing, second hand phones, and going without

53:43 Property first, then the business, and why tax is a success fee

58:54 If you cannot afford it in your own name, a trust has not fixed it

01:00:38 2012, and 248,000 dollars of debt

01:04:06 And then what?

01:12:45 The capital gains discount, and what he does with it

01:29:34 Everyone thinks their circumstances are unique

01:36:56 Take the goals off the field, and what are you playing

01:57:48 Lenders mortgage insurance, and why he would rather buy two

02:01:14 Offset against redraw, and the statement he tells you to pull

02:27:22 Debt recycling in plain terms

Graeme Holm makes every dollar in an offset account do a job. 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.

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.