Note: There will be video soon, working through some tech issues. Otherwise YouTube is where you can find it for now!

We’ve hit that stage of life where everyone’s either getting engaged, married, planning a Japan trip, or trying to buy a house. And somewhere in that chaos, the words “mortgage broker” keep popping up, but what do they actually do? Are they just a fancy search engine for home loans?

In this episode, Michael Nguyen joins us to break down the world of mortgage broking, answer the questions most first-home buyers are too scared to ask, and share what it’s really like working in the industry. Whether you’re buying soon or just curious, this one clears up a lot.

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Michael's email: michael@professionalhomeloans.com.au

https://www.professionalhomeloans.com.au/

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Want to get in touch? Send us an email at ⁠⁠ricenmicspodcast@gmail.com⁠⁠

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Music: aKu - Love Shine | aKu - The Final Blow

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0:00 Intro

3:04 Inspiring kids with Dai Le

5:33 Growing up, selective schooling PTSD

14:00 TAFE, uni offers and experience

20:34 Becoming an Apprentice Broker

23:28 How do brokers get paid? The cutthroat side

28:10 Cut out the broker and save?

31:18 Struggling as an apprentice, abusing free gym trials

36:38 Getting from start to finish for a loan, compromising

40:02 Where to buy IPs

45:32 Can brokers get loans for themselves? Apprentice life

52:48 Be the dumbest guy in the room

55:26 Teaching other colleagues

57:23 Apprentice vs now

58:20 The self employment struggle

1:02:24 Fluctuating income, the first deal ever

1:04:56 Bad vs good broker

1:06:33 Why not go for the cheapest rate?

1:10:51 5% deposit scheme

1:13:38 Biggest first home buyer mistakes

1:18:02 Emotions of buying a place

1:22:24 Toughest deal

1:25:08 How afterpay/credit card churning affects home loans

1:27:17 Advice for aspiring brokers

1:31:11 Outro