Buying an apartment? You MUST watch this | Strata secrets revealed

Overlooking details in a strata report may not seem like a big deal until you get hit with a special levy or an unexpected cost to fix something in the apartment block. Strata expert, Craig Bayliss from Coastal Strata is our special guest on this episode to share his insights from his twenty years of experience. Whether you are buying a unit as an investment or your home, you absolutely need to avoid the fatal mistakes made by unprepared buyers. In our discussion, we talk about what’s in a strata report, how to spot a dud and what makes a great strata building. From property analysis to choosing and being selective about your strata agent, Aaron and Craig breakdown the essential next steps for maximizing your investment potential and ensuring smooth strata management.00:00 - Intro02:54 - Breaking Down a Strata Report 03:48 - Predicting Potential Risk Factors 04:46 - Are Strata Agents a Necessity? 6:38 - Roadmap to a Strata Report 10:19 - Craig’s Encounter with Cladding Issues12:35 - Distinguishing Common Property, Differentiating Responsibilities  17:00- By-Laws + Other Sneaky Technicalities 20:04 - Strata Reports Vary Based on Buildings/Facilities 21:47 - What Makes a Good Strata Manager? 23:33 - Craig’s Final Thoughts + OutroAbout Our Host:Aaron-Christie David founded Atelier Wealth, a Mortgage & Finance Association of Australia (MFAA) approved Mortgage Broker. Aaron’s focus is clear – supporting property investors to make confident decisions to build their property portfolio. He has been recognised in the MPA Top 100 Broker rankings for the last three years. With over 10 years of financial services experience, with a career spanning Wizard Home Loans and Commonwealth Bank, Aaron's decision to become a broker was to help more Australians fearlessly buy investment properties to achieve intergenerational wealth.About Our Guest:Craig offers a holistic & tactical view of strata living from experience as a Licensed StrataManager and personal property purchases. Craig and his team at Coastal Strata have spent the last 10+ years providing insights and advice to many wonderful clients purchasing and living in apartments throughout NSW. The Coastal Strata team have completed over 10,000 strata reports on strata schemes throughout NSW.Craig’s entrepreneurial ventures include founding Niche Cowork, a new co-work private office space skewed towards property industry professionals. The offices are located on Beverley Ave, Warilla.  Connect with Aaron:Visit the website: https://atelierwealth.com.au/   Follow the Australian Investment Property Podcast’s Official Instagram account: https://www.instagram.com/aupropertyinvestmentpodcast/Follow Aaron on Facebook: https://www.facebook.com/aaronchristiedavidFollow Aaron on LinkedIn:  https://www.linkedin.com/in/aaronchristiedavid/Subscribe to Atelier Wealth’s YouTube Channel: https://www.youtube.com/@atelierwealth_auConnect with Craig:Visit the website: https://www.coastalstrata.com.au/ Follow the Coastal Strata’s Instagram account: https://www.instagram.com/coastalstrata/ Follow the Coastal Strata’s Official Facebook account: https://www.facebook.com/CoastalStrataWollongong/ Subscribe to Coastal Strata’s YouTube Channel: https://www.youtube.com/channel/UCe432rDvdZGGYyg1N3qQ_FgAbout Aaron:Aaron-Christie David founded Atelier Wealth, a Mortgage & Finance Association of Australia (MFAA) approved Mortgage Broker. Aaron’s focus is clear – supporting property investors to make confident decisions to build their property portfolio. He has been recognised in the MPA Top 100 Broker rankings for the last three years.With over 10 years of financial services experience, with a career spanning Wizard Home Loans and Commonwealth Bank, Aaron's decision to become a broker was to help more Australians fearlessly buy investment properties to achieve intergenerational wealth.Connect with Aaron:Visit the website: https://atelierwealth.com.au/   Follow the Australian Investment Property Podcast’s Official Instagram account: https://www.instagram.com/aupropertyinvestmentpodcast/Follow Aaron on Facebook: https://www.facebook.com/aaronchristiedavidFollow Aaron on LinkedIn:  https://www.linkedin.com/in/aaronchristiedavid/Subscribe to Atelier Wealth’s YouTube Channel: https://www.youtube.com/@atelierwealth_au