Property investing has rarely looked more seductive—or more dangerous. In this episode, Veronica and Chris unpack the growing gap between how property portfolios are being sold and how risk is quietly stacking up beneath the surface. As regulators tighten lending rules and banks pull back, the question isn’t whether the rules are changing—it’s whether investors are paying attention.
The conversation dives deep into aggressive lending practices now under scrutiny: trust lending, SMSF borrowing, equity extraction, and the promise of “instant equity” through optimistic bank valuations. Veronica and Chris challenge the idea that buying multiple properties fast is a strategy, exposing how many portfolios are built on valuation certificates rather than fundamentals—and what happens when interest rates rise, rents soften, or lending conditions tighten.
They also examine the uncomfortable incentives driving this behaviour: buyer’s agents rewarded for volume, brokers pushed to maximise borrowing capacity, and everyday Australians—often in their late 40s and 50s—being sold complex structures they don’t fully understand. From regional markets distorted by borderless buying to SMSFs loaded with illiquid property, the risks are not theoretical—they’re already unfolding.
This episode is a warning shot. If your strategy relies on constant refinancing, rising valuations, or ever-looser lending, this conversation will force you to rethink it. Because when the cycle turns, the consequences won’t be shared evenly—and paper equity won’t save you.
00:00 — Introduction to Property Investing Risks
01:11 — Regulatory Crackdown on Risky Lending
01:46 — The Role of Buyer's Agents and Brokers
03:19 — Trust Lending and Self-Managed Super Funds
12:19 — Instant Equity and Market Manipulation
18:40 — The Pitfalls of Following Bad Advice
24:28 — Questionable Advice from Buyer's Agents
25:32 — Judging Awards and Industry Practices
26:16 — Vulnerable Investors and Risky Promises
27:13 — APRA's Role and Investor Lending Trends
29:31 — Superannuation and Property Investments
35:32 — Private Lending and Market Risks
42:53 — Cross Collateralization and Loan Structuring
48:54 — Conclusion and Final Warnings
Chris Bates is a mortgage broker and co-founder of Alcove, working with clients across Australia to help them navigate complex property and lending decisions. Known for his data-driven approach, Chris specialises in long-term strategy, lending structures, and helping buyers avoid costly financial mistakes.
Veronica Morgan is a buyer’s agent and property strategist with nearly two decades of experience advising owner-occupiers and investors. With a background in research, data analysis, and on-the-ground buying, Veronica is widely respected for cutting through market noise and focusing on fundamentals, risk, and long-term outcomes.
Together, they bring a practical, evidence-based lens to Australia’s property market — challenging assumptions and unpacking what actually matters.
