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More time at home means many Australians now have the opportunity to re-assess their lifestyle and spending habits and set some serious saving goals. So how can you actually go about it?

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In this episode of The nestegg Podcast, host Grace Ormsby is joined by Melbourne-based Reventon’s Billie Christofi to talk all things finance and the impact of isolation on our hip pockets.

In stage 4 lockdown, Billie shares the importance of going back to basics when it comes to budgeting, methods to re-assess spending habits, and some of the less conventional ways people can boost their wealth at this time.

Thanks Billie, for sharing your insights with the nestegg podcast team!

Have an investment story to share? Get in touch at [email protected] and you might get featured on an upcoming episode!

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-09-02 02:50:12" ["slug"]=> string(43) "15670:capitalising-on-the-covid-19-pandemic" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(56) "/resources/podcast/capitalising-on-the-covid-19-pandemic" ["image"]=> string(43) "images/podcasts/Billie_Christofi_WEB_ne.jpg" ["image_alt"]=> string(0) "" } }

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‘Great buys’ available for opportunistic investors

By Grace Ormsby

June 16 2020
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Invest

‘Great buys’ available for opportunistic investors

By Grace Ormsby
June 16 2020

If you still have an income, and therefore an ability to make plans despite the current pandemic, a CEO has advised looking to jump on any potential investment opportunities available.

‘Great buys’ available for opportunistic investors

By Grace Ormsby

June 16 2020
Share

If you still have an income, and therefore an ability to make plans despite the current pandemic, a CEO has advised looking to jump on any potential investment opportunities available.

Speaking on a recent episode of the nestegg podcast, the founder and CEO of Upside Realty, Adam Rigby, revealed that while we’re in “a period of relative stability right now”, what we don’t know from an overall economic point of view is what will happen when JobKeeper ends.

“What happens? Will there be a large number of businesses that struggle?” he queried.

“That’s the speculation that the industries are talking about.”

“We always see a lot of unemployment build at that point, and certainly the banks are expecting that unemployment will rise up 10 per cent, which is above where it is now,” he outlined.

If that is the case, “then you may get forced sales or distressed sales”, according to the CEO.

“That means that yes, definitely, there will be some price reductions.”

But he also conceded “that all the markets are a little bit different, so it really does depend where you are”.

“That’s where a savvy buyer, if they know the market – they’ve been monitoring the different markets and they’ve seen ‘ah Melbourne’s been hit particularly hard’ – they might be able to snap up a bargain in Melbourne, as an example.”

For anyone who is cashed up or has the resources, Mr Rigby said, “I would definitely be looking for buys.”

“Come the next six months, [there] will be some, and I think it could be anything from new developments through to high density,” he offered.

According to the CEO, new developments and high density “will be hurt the most”.

But he also highlighted that potential investors must “be smart about where you buy”.

Advising property purchasers to buy high-quality stock, Mr Rigby warned: “Don’t get caught up into buy[ing] something that’s been hit hardest on price, because usually there’s a reason.”

“Keep your powder dry,” he warned.

“Try to make sure you buy high quality, and if you can get something that’s 5 to 10 per cent off the normal price that might have sold pre-2019, that might be a great buy. Look for those in the coming six months.”

“If quality stock comes up, do jump on it,” the CEO offered, stating that smart advisers will talk about quality over timing.

“Speculators generally get it wrong and picking times is always hard,” Mr Rigby conceded.

“We’ve got to keep a level head about these things, and also look to your opportunities,” he continued.

“Picking quality is easier – so I would always try and err towards that.”

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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