Wealthi co-founder Domenic Nesci speaks with Michael Carbone to discuss how Coposit is revolutionising property buying and helping home buyers and investors buy a property in Australia with a $10,000 deposit.     

Domenic & Chris addresses the concerns that many Australians have of taking longer to save for a deposit to buy a property in Australia and  Coposit's mission to solve this issue.   

Michael explains how Coposit is making it easier for Australians to break into the property market by helping Coposit app users secure a property with a $10,000 deposit and pay the remaining deposit on an ongoing basis.  

Watch the video below to learn more about the simple way Coposit plans to transform the property buying sector in Australia

This is an excellent episode with many insights, delivered in a unique and upfront format. 

Domenic Nesci: (05:24 )

It takes time for these properties to be developed, and what you are doing is allowing purchasers to enter the market sooner rather than later. And in many instances, you're pre-negotiating with developers that can take a $10,000 deposit and allow the person that's paid that deposit to pay the remainder of that deposit, 10%, 20%, over the duration of construction. So, for those aggressive purchasers out there, they don't have a full deposit, go to Coposit, see what the options are available to you, but I think that's essentially yet a nutshell.

Michael Carbone: (07:15 ) We know that it's taking Aussies longer to save for that deposit. I've read articles and I've seen press that says, that indicates, five years, six years, nine years. I saw an article the other day that said 15 years. And you know, this is just crazy to think that people are taking this- needing this long to save for a deposit. And effectively what it's doing is shattering the dreams of a generation.But we're here to tell them that that dream is still a reality. And we're talking about time, the reason why it's so important to emphasize that this is for newly build properties, or this is for properties under construction, is we're utilizing that time that it takes to build the property. Normally what happens, Dom, as you know, and as many of the listeners would know, if I walk into a sales suite to look at purchasing an apartment, that's going to be complete in two years time, I'm asked to put down a 10% deposit to secure a property. That 10%, whatever it is, whether it's $50,000 on a half a million-dollar property, maybe a $100,000 on a million-dollar property, these days in Sydney, that's sitting in a trust fund for the duration of that construction time, which is two years in this case.

Domenic Nesci: (11:44 ) Many of the economists are coming out and saying 5%, 6, 7, 8% price growth. But there are some early signs that maybe there may not be any price growth, and there's going to be a price dip or drop in certain markets. What do you think about that? Do you see the market dropping next year?

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