24 Mar A journey of discovery and learning – Jo Vadillo
Sydney might not be the hottest investment location this year. Jo Vadillo from Property Women is behind a bus tour that will take you on a journey of discovery and learning. Hear about it and where it is headed as we catch up with her.
Kevin: We talk a lot about regional markets in the show. One regional market that’s fascinated me for some time, and is actually getting some fairly good traction right now, is Newcastle. Let’s have a look at that market. I received an email the other day from Jo Vadillo, representing Property Women. They’re looking, well, quite dramatically, at that market. She joins me to have a talk about that. Good day, Jo. How you doing?
Jo: Hi, Kevin. I’m good, thanks.
Kevin: Nice to be connected. Thank you very much for your time. What is it you like about the Newcastle market?
Jo: Oh, look. I think it represents really good opportunities for investors. We work a lot with people who are Sydney based, and with budgets that can afford you really good opportunity in Newcastle, doesn’t afford you the same opportunity in Sydney. And, certainly, it’s a stronger market in terms of outlook in the near future, the next five-year plan. That’s where I see Newcastle representing better value than Sydney market.
Kevin: Can you just give us a bit of an insight as to why you think the Newcastle market is actually on the rise?
Jo: Well, what I’m understanding of the Newcastle market is it’s holding firm. What I like about it … Because when I talk to investors, we like to provide them with opportunities that have a twist. This is where, I guess, you manufacture equity, as well. The Newcastle council are very, very malleable in order to do granny flats, subdivisions, other opportunities. There’s amazing growth in the area in terms of infrastructure around the city itself. A lot of people, also, are migrating to Newcastle, I think, as Sydney became unaffordable and, I suppose, difficult in the last half-decade. People have been moving further and further afield.
Jo: So the city itself is growing in terms of population, and it’s got amazing medical, hospitals and a lot of medical research in that particular area. In terms of employment, people are working in the Hunter Region, Central Coast, and people also commuting to Sydney, as well. I just see it as a thriving opportunity for investors.
Kevin: Yeah. You mentioned there are about granny flats. I take it that the council in Newcastle are very proactive when it comes to these sorts of approvals. Are they a friendly council?
Jo: They are. Yeah. Compared to if you’re in Sydney and they’re 30 centimetres too big or too small, they’ll say, “No.” They have, in my experience, been quite easy to work with. Of course, you need the right team behind you, and before you purchase, to make sure you’ve got a good town planner that understands the planning scheme, as well. What you can do … And also ensure that before you go ahead and do anything like that, does that suit the geography and who it is that’s going to be moving into that particular suburb. They’re small parcels of land, but you can do a lot with it. They’ve also got a very big student community in and around Newcastle City, as well, because of the university there.
Kevin: Tell me about Property Women, how you’re supporting women in developing their own portfolio. You’re seeing that as something that a lot more women are becoming involved in?
Jo: Yeah. Look, I absolutely am. I see … And I think there’s also been some research saying that single women make up some large percentage, now, of people who are seeking out loans for investment purposes. So definitely, the girls are really strong go get ’em kind of force out there, as well. I also see women, now, as opposed to being a little bit more … They’re being a bit more strategic, I guess, and looking to how to make that money work for them and planning for their future, as well, by using property as their main asset class.
Kevin: Yeah. Well, I’m interested to see here, too, that you’ve organised a bus tour with Judith Taylor. Tell me about Judith. I understand that she’s a property educator, but also an author and buyer’s agent, and she works in that Newcastle market.
Jo: Yes. Judith Taylor was actually one of the first directors of Property Women back in 2006. She was, I guess, one of the ladies that started the business up. Then she’s a novacastrian born and bred, and she’s got a number of investments in Newcastle. Very well-seasoned and experienced renovator, knows the market inside and out and as a buyer’s agent, she does a lot of things for her clients, as well.
Jo: She and Property Women put on these bus tours twice a year, and it’s really just … And excuse the name Property Women, because we always welcome men, and partners, and other joint venture …
Kevin: Couples, yeah.
Kevin: Yeah, men.
Jo: I think it’s the word I’m looking … Men. They’re always welcome on the bus. But the point being, we look at a whole bunch of different opportunities. It could be that you’ve renovated the front house and sold off the back. You might put two town houses on the back of a block. We’ll look at live case studies of renovations that are underway. Look at some granny flats, look at how people have used granny flats really well, and how that’s affected the yield of the property. So what the buying price is, what the build price is, then what the outcome is.
Jo: Judith, because she’s been doing this for so many years, she can drive around almost every street and pinpoint this one, that one, this house, this house. And we just look at a whole bunch of different strategies that will meet a multitude of different budgets and plans. While some people come on the bus tour just to have a broad understanding of the opportunities. Some do come because they are, like myself, very interested in the Newcastle market as their next investment choice.
Kevin: Yeah. Well, you’ll get the opportunity to actually walk through some real property deals, have a look at some granny flat deals, as well. But the thing I like about this, Jo, is it gives you the opportunity to network with some like-minded people. The bus tour is coming up in a week’s time, March 30. It’s on all day. All the details are going to be available on the link that we provide for you that’ll take you through to Property Women.
Kevin: Jo, thank you very much for your time. All the best for the bus tour. As I said, it’s on in Newcastle with Property Women. You can go with Jo and with Judith and the rest of the team from Property Women. It’s on on the 30th of March. Jo, thanks for your time.
Jo: Absolute pleasure. Thanks, Kevin.