# Paid Off Their House in 6 Months | Rose & Peter | CHANGING LIVES | Season 4 Ep 32

An episode of [Money Mentor Podcast™](https://invisiblenetwork.ai/podcast/1632604767), 27 Apr 2026, 1 h 10 min.

Audio: https://episode.flightcast.com/hitmev6ib1hvjmwydectll1g.mp3

Rose and Peter’s journey is a powerful example of how being “okay” financially isn’t the same as being truly secure. In their early 50s, with two investment properties and a mortgage, they felt stuck, unable to move forward due to lending limits and lack of structure. After discovering anew strategy, they made a bold decision: sell their existing properties, clear their debt, and reset their financial position. Within just six months, they became completely debt free and rebuilt their portfolio with a stronger foundation. Along the way, they transformed their habits ditching credit cards, implementing a strict but sustainable budget, and involving their daughter in financial awareness, proving that discipline, not income, was the real game changer. But their story goes far beyond money. Shortly after becoming debt free, Peter suffered a sudden stroke that required emergency surgery, an experience that could have been financially devastating if they were still burdened with debt. Instead, their new position gave them peace of mind and the ability to focus entirely on recovery and family. Today, they live with clarity and intention: prioritising experiences, planning travel, and building a future based on freedom of choice rather than financial stress. Their biggest lesson? Most people don’t have a money problem, they have a structure and mindset problem. With the right plan, discipline, and willingness to make uncomfortable decisions, everything can change. Change your financial future now! 👉 Start by watching the FREE webinar and see what's possible: https://bit.ly/43V2jKN

## Transcript

[0:00] Is it hard to still keep sticking to a budget each week?
[0:03] No.
[0:03] Because most people go, oh yeah, a magical budget fixes it all.
[0:06] Well, it fucking does.
[0:08] But why would you just keep sticking at it if you've paid the house off?
[0:12] Why wouldn't you be like, yeah, most people go, when you pay your house off, you just spend whatever the fuck you want.
[0:16] Yeah, well, what do you want to do?
[0:18] We know we want to go on holidays, right?
[0:19] We know we've got to do that.
[0:21] So we want to save money for that.
[0:24] We want to have the freedom to be able to make those choices without having to worry about...
[0:28] when my next paycheck's coming in you know it's that kind of thing money isn't rude of all evil the fucking lack of it is not money the lack of understanding money when i put that into emphasis when i realize that psychological effect and how it hit our family i have to be in the fucking way with graham home graham home graham home
[0:50] This is where Peter and Rose started, working hard, owned property, but with no real plan for what came next.
[0:58] A family of three in Fremantle with a 12-year-old daughter and big goals, searching for retirement help and financial clarity.
[1:06] They had investment properties and super, but no budget, no structure and savings that wasn't working for them.
[1:14] Then they found Infinity.
[1:16] In just six months, they cleared their mortgage, purchased three investment properties, a weekly budget that works.
[1:23] Then, just weeks after becoming mortgage-free, Peter suffered a devastating stroke, and the recovering was long.
[1:31] The financial stability they'd built with Infinity meant one less thing to fear, and Peter is now almost fully recovered.
[1:38] Today, they have clarity, confidence, and a long-term plan built for their families.
[1:46] and ready for whatever comes next.
[1:50] This is the story of Peter and Rose.
[1:54] Welcome back to another episode of The Money Mentor on the changing lives financially theme.
[1:59] Two special guests today, Peter and Rose, how are we?
[2:02] Good, thanks for having us.
[2:04] Excited?
[2:04] Nervous?
[2:05] Excited.
[2:05] A little bit nervous.
[2:07] A bit nervous.
[2:07] Just a little.
[2:08] A little bit nervous.
[2:10] All right.
[2:11] Let's rip straight in because there's a lot to cover for you guys today.
[2:16] Tell us who you are, where you're from, give us a bit of background.
[2:19] All right, you can start.
[2:20] Yeah, so we're in WA.
[2:22] We've been in WA for almost 20 years, I think, now.
[2:26] I'm originally a Melbournian.
[2:27] Rose and I actually met in Melbourne.
[2:29] And she was working for her job, I think, seven years.
[2:34] So we actually met there and she had an opportunity to come back to Perth.
[2:39] And so in 2008, made a big trek from Melbourne through to WA.
[2:44] And we've been in WA ever since, about 20 odd years.
[2:48] Family, kids, pets?
[2:50] Yeah, we've got a little miracle daughter, we call hers.
[2:54] We took five years to fall pregnant with her with IVF.
[2:56] So we've got one daughter who's 12, so we started a bit late in life with kids.
[3:03] No pets.
[3:04] That's too much of a mess for me.
[3:06] That's my own personal preference.
[3:09] Yeah, so all my family live in WA, and Pete's family is all in Victoria.
[3:16] So we do the trek every year and see the family over there.
[3:19] So that's minimum once a year we head over and do that.
[3:22] Very good.
[3:22] Yeah.
[3:23] Okay.
[3:24] So family of three.
[3:26] W-A, okay.
[3:28] And when and why did you find Infinity?
[3:31] That was me, so I- It's all your fault, mate.
[3:35] It's all my fault.
[3:36] I was the culprit, G. So obviously a lot of your feeds that came through socials are even before the webinar, so I'm really interested in the context.
[3:45] I've always been interested in investing in properties.
[3:47] Then did the webinar and then did pretty much the masterclass within about a week after doing the webinar and doing that.
[3:57] And then, yeah, made the call after the weekend, which was, by the way, absolutely mind-boggling.
[4:04] Just the way it was all structured, things that I learnt, and I was really keen to follow the process.
[4:10] So Rose came in and out over the weekend.
[4:12] She wondered what the hell I was doing.
[4:14] What the shit?
[4:16] It's dinner time, what are you doing?
[4:17] You're still on there.
[4:18] I was one of those late night ones.
[4:21] Yeah, it was actually quite funny.
[4:24] On the Saturday night, you had everybody doing all the questions and with the time difference, it was only probably 8 o'clock, but by the time you finished, I think Eastern, it would have been like almost 11, 10, 30, 11 o'clock.
[4:36] But I stayed on for all that and she goes, what the hell are you doing?
[4:39] That was even before, you know, you did the hook on the Sunday to join up and that type of thing.
[4:42] So, yeah, and I was ready to sort of do something and loved the structure behind it, the strategy, the plan.
[4:51] I was excited about the whole process.
[4:53] He was like, you have to sit in for a couple of hours.
[4:56] He said, your wife's got to sit in on a couple more.
[4:58] Yeah, well, you can't sign up.
[4:59] I was like, well...
[5:00] What do I need to know?
[5:01] Because I've got to put the washing on and I've got to get dinner on, right?
[5:03] So I'm like, what's going on here?
[5:05] So that was kind of where it started.
[5:06] And within a couple of hours, I was like, my God, right, okay.
[5:10] Yeah, I can understand what's going on.
[5:11] That was within a couple of hours of the Masterclass.
[5:13] Gotcha.
[5:15] So we were like, yep, where do we sign up?
[5:18] Because we were kind of at the point of...
[5:22] in our early 50s seeing the next 10 years what does that kind of look like because we're still raising a young daughter through high school but then we're kind of heading towards the pointy end of do we want to kind of
[5:33] early retire, but retire from a nine-to-five job, like do stuff that we want to do and travel.
[5:38] We love travelling.
[5:39] And that's what every year we want to go and go somewhere, do something, and build memories, especially with our daughter.
[5:45] So it was we kind of got stuck to a certain point and we needed that, where do we go from here?
[5:52] And Pete was a big driver of that.
[5:53] He goes, I need to kind of find something.
[5:56] Somebody's got to get us across the line, past where we were at that point in time.
[6:01] So that kind of was...
[6:02] We were probably that average G of, we got to like two properties.
[6:06] Yep.
[6:07] And then with the serviceability, fixed incomes, couldn't sort of get past that.
[6:09] That's the thing, right?
[6:10] Like everyone gets that two or that three and then the bank says no.
[6:15] Yeah.
[6:15] Because the way it's structured.
[6:16] Whereas he wanted to go again.
[6:17] He's like, you can't do it.
[6:18] He's like, why can't I do it?
[6:19] You know, he was like, you just can't.
[6:21] The banks won't do it.
[6:22] And I think your, you know, through the masterclasses, whatever it is, like the way that you sort of laid out different types of people had different...
[6:32] I guess, journeys and where they were at.
[6:34] People were on fixed incomes.
[6:35] You had high-income earners.
[6:37] And it all resonated.
[6:38] Every little, I guess, strategy that you sort of had there, that just motivated and fuelled you.
[6:45] Okay, well, yeah, we can probably do it.
[6:47] You can probably, as long as we structure it correctly and follow a process.
[6:49] But you already had a couple, right?
[6:50] So you had a mortgage of 400, a couple hundred?
[6:53] Yeah, 410.
[6:53] And this, sorry, go back.
[6:54] This was mid-2024, yeah?
[6:55] Yeah.
[6:58] Yes.
[6:59] Yeah.
[7:01] Okay.
[7:02] So mid 2024, 410,000 and a couple of properties.
[7:04] Yes.
[7:05] One or two?
[7:05] Two.
[7:06] Two investments.
[7:07] Two investments.
[7:07] And where were they?
[7:08] So yeah, one in Tassie and one in Rockhampton.
[7:10] Gotcha.
[7:11] Okay.
[7:12] So how long have you had those for yourself?
[7:15] So Tassie, we built our home in WA in 2017.
[7:20] Yeah.
[7:21] And we had some equity.
[7:23] So I sort of said to Rose, I wouldn't mind investing.
[7:25] So I went to a broker at the time and a buyer's agent.
[7:29] They found me a property, so I sat on that from 2018 through to 2024.
[7:34] Yep.
[7:35] And then Rockhampton just after COVID.
[7:37] Just after COVID.
[7:38] Just after COVID.
[7:38] And we had that almost three years in a way.
[7:40] 2021.
[7:40] Three, four years.
[7:41] So it was quite interesting because when Anthony started doing the numbers and having a look at it, we said, yep, sell that one.
[7:50] and see how you go.
[7:51] And he sort of looked back and said, Tassie's going to take a while to sell.
[7:54] And that's actually what happened.
[7:56] Tassie took almost like six months.
[7:57] So in between, I wasn't going to put Rockhampton for sale.
[8:01] I said, I might as well.
[8:02] And then that sold in less than four weeks.
[8:04] Yeah, right.
[8:04] Yeah.
[8:05] And then both of them sold within a couple of months of each other.
[8:09] And that allowed us to pay the mortgage off.
[8:12] Debt-free.
[8:13] Debt-free.
[8:14] Isn't it funny that we're like...
[8:15] We're investors and we can't get any more money.
[8:18] But if we invest to make money, we only actually make the money if we sell those investments for profit.
[8:26] Yeah.
[8:27] Like, yeah, I never sell.
[8:29] Yeah.
[8:29] But hang on.
[8:30] Haven't you got more properties now?
[8:32] How many got now?
[8:34] Three.
[8:35] Plus the home.
[8:36] Plus the home.
[8:36] Paid off.
[8:37] Yeah, so the home's debt-free and you went and got three.
[8:40] So you had two investments.
[8:41] Yeah.
[8:41] You made money.
[8:42] You invest to make money.
[8:43] You sell them, pay your house off.
[8:44] You own your home.
[8:45] The two are gone.
[8:46] Yeah.
[8:46] But you've got three fresh ones.
[8:47] Nobody could tell us that beforehand.
[8:49] I don't actually think that people understand it.
[8:53] It seems so fucking simple to me.
[8:56] I was happy to keep writing the bad debt and keep doing that and maybe try and do it.
[9:02] But then at that point we got stuck and said, okay, no, you can't.
[9:06] We looked at your serviceability.
[9:07] We're on fixed incomes.
[9:09] Not going to happen.
[9:09] It doesn't matter who I speak to and try and do it.
[9:12] It was trying hard.
[9:13] It was trying hard to find somebody to make it.
[9:16] Yeah, then when you sort of see the way that Infinity structured it and all the different stories and went away, did my due diligence and...
[9:24] Yeah, and this worked and you're in a really good spot now.
[9:27] So we're sort of a year and a half in now, right?
[9:30] Year and a half in, yeah.
[9:31] So when did you guys get debt free?
[9:33] December 24.
[9:34] December 24.
[9:35] So within six months.
[9:36] Six months.
[9:36] Yeah.
[9:37] Yeah.
[9:37] And then you had a bit of a hiccup?
[9:39] Yeah, so I was in Melbourne and we're on holidays, Christmas actually, New Year's Eve.
[9:43] And we're just actually just about to go out.
[9:47] Sienna wanted to go shopping.
[9:48] And so it was early morning, like we're at a hotel in Melbourne.
[9:51] And I said to Rose, I sort of can't.
[9:53] I can't feel my leg.
[9:55] She thought I was joking.
[9:57] She was about to, you know, what are you talking about?
[9:58] I was going to get to the lift.
[9:59] Shake it off.
[9:59] Couldn't actually feel anything at all.
[10:02] Couldn't walk on it.
[10:03] We got down the elevator.
[10:05] Rose goes, oh, there's something seriously going on here.
[10:07] So she's given the paramedics a call and they've asked her a couple of questions.
[10:11] They said, yeah, we think that's it.
[10:13] He's having a stroke.
[10:14] Wow.
[10:15] But he's still talking to me like that.
[10:17] I'm joking with the paramedics.
[10:19] They're having a laugh.
[10:20] I didn't lose any of my ability to function.
[10:23] And then it was just pretty much full-on tests for New Year's Eve.
[10:28] This was New Year's Eve 2024.
[10:29] In Melbourne.
[10:31] In Melbourne.
[10:31] He was in hospital.
[10:32] And I had my dad in hospital in Perth.
[10:34] So it was pretty full-on.
[10:35] It was pretty stressful.
[10:36] Just open a bottle of Plonk and...
[10:38] Oh, jeez, jeez.
[10:39] Yeah.
[10:40] And three days later, he's having his head split open.
[10:44] Yeah, it was pretty scary.
[10:46] And Sienna was with us when it happened.
[10:48] Luckily, there was nothing traumatic.
[10:50] She didn't see.
[10:50] I didn't feel any pain.
[10:51] Nothing at all.
[10:52] So it was a slow onset.
[10:54] Yeah.
[10:54] Wasn't like, whoa.
[10:56] No, it wasn't a big thing.
[10:57] That would have been a bit traumatic.
[10:58] Yeah, it would have been traumatic.
[10:59] And she got to see me in AR.
[11:01] And I was getting monitored in AR.
[11:03] And so they let her come in.
[11:05] So we're joking with her.
[11:06] She saw I was OK.
[11:08] So then they put a bit, because I was due to travel back to Perth two days later.
[11:13] So we're thinking, well, I imagine I was actually on the plane and that happened and halfway across the North Pole.
[11:19] So what have they done?
[11:20] And I said, would I have actually even survived it?
[11:22] And so I don't do a lot of what ifs, but I just sort of went into really, okay, it's happened.
[11:28] Roll with it.
[11:29] Do what I need to do.
[11:30] Just keep working through.
[11:31] And Rose was amazing.
[11:32] And I've got my family in Melbourne.
[11:34] So if it's going to happen anywhere...
[11:37] I had recovery rehab in Melbourne.
[11:39] We spent a month in Melbourne.
[11:40] Yes, like it was school holidays, so that was a good thing.
[11:43] But we spent a month while he was going through his rehab.
[11:46] Yeah.
[11:48] Yeah, but that stage, though, being debt-free and having no mortgage, I didn't have to have the stress of having to worry about it.
[11:54] And it just took one phone call to you guys to say, this is what's happened.
[11:59] Right.
[12:00] I've got to say, I rang Anthony while I was in hospital.
[12:03] I was probably four weeks in, mid-January, maybe early February, but I was still in the hospital.
[12:08] He picked up.
[12:09] We had a chat.
[12:10] He was on the phone for an hour.
[12:11] He goes, don't worry.
[12:12] We started chatting.
[12:14] Everything's in order.
[12:15] Do what we need to do.
[12:16] He was absolutely brilliant, G. You've got some really good...
[12:19] Some good people.
[12:19] Yeah, some good operators who cared and...
[12:22] They're not staff.
[12:23] No.
[12:24] They're not your broker, your co- We stopped hiring for the skill and started hiring for the will.
[12:31] Yeah.
[12:32] Because I can train the skill.
[12:33] Yeah.
[12:33] You know what I mean?
[12:34] Like we're really good at that.
[12:35] But I need the right humans.
[12:37] Yeah, he was brilliant.
[12:39] And then I sort of set it like a mini goal to say, he sort of said, look, he goes, just focus on your recovery, focus on your rehab, do what you need to do.
[12:47] Came back and we were able, luckily enough, I think they'd run all the numbers and said, yep, you can come to a REM.
[12:52] So I said, look, by middle of the year, I think I'll be right.
[12:55] And we were able to come.
[12:58] to the REM and really enjoyed it.
[12:59] And I thought that was like a bit of a, I guess, nice sort of goal to say, yep, I've worked really hard with my rehab or training and I'm now back on track.
[13:09] And I see it in the rear view mirror, I don't have to worry about that anymore.
[13:13] The docs reckon I'll make like a full recovery.
[13:16] They were really wrapped with the surgery.
[13:17] I didn't have any complications.
[13:19] The training's been hard because I used to be able to, you know,
[13:23] probably do a bit more running, a bit more exercise and stuff like that.
[13:27] Now I have to do a bit more lightly.
[13:29] But I've got back into the gym, can't run as well as I used to.
[13:35] But I'm chipping away and I'm hoping to do 60 hard.
[13:37] I think I can do seven days straight, then I'll do it.
[13:40] I think maybe a couple months, two months, three months or eight, and then I'll join and give it a crack.
[13:46] I think I've got an opportunity to do it, but I don't think I can, you know, speak to the doctor, yeah, maybe three to four days and maybe this, seven days might be pushing it, but I'm going to give it a crack towards the middle of the year.
[13:58] Listen to the doctor, okay.
[13:59] Yeah.
[14:00] Tell me...
[14:02] Glad you're on the mend.
[14:03] Thanks, yeah, yeah.
[14:04] Just ease back into it.
[14:07] Nice and easy.
[14:08] It's good.
[14:09] And it's good to have the goals too.
[14:10] Like, you know, not having that financial worry is a big thing.
[14:14] Would it have been different had you still had the mortgage of 400 grand and the two investments and the way it was structured, would it have been?
[14:21] Yeah, possibly because, you know, you knew you had to sort of pay off the house and with the interest rate rises now that we know that, you know, possibly on the way up and everything...
[14:29] knowing that we actually didn't have that and luckily I had a fair bit of, I had insurance but also had a lot of sick leave, didn't take any sick leave at work so I was able to sort of just ease back into it and Rosie works part time so the financial, once I sort of knew that and it almost felt, you know, I found you guys, restructured, sold a couple of properties, got the debt down and then...
[14:55] Yeah, you're meant to celebrate with a party.
[14:56] Yeah, yeah, yeah.
[14:56] You're not meant to have a stroke on me and pay your hats off.
[14:59] I know, I know.
[15:00] You kind of missed the celebration part.
[15:03] I did, I did.
[15:04] You're like, the stress is gone.
[15:06] You're not meant to stroke out on me, mate.
[15:08] You're meant to be like, yo!
[15:10] We celebrated this New Year's Eve instead.
[15:11] Yeah, we did.
[15:12] We actually celebrated this year, and I think it's a year anniversary.
[15:15] We actually got your...
[15:17] gift box of the champagne to Bob on New Year's Eve.
[15:19] Yeah, yeah, we did that.
[15:20] So we did that and took a photo and stuff.
[15:22] So that's been going around on socials, which is really awesome.
[15:25] You know, something that we would never think about doing.
[15:28] Yeah, you've got a bit of fun with it.
[15:29] Fun with it, yeah.
[15:30] Yeah, it was brilliant.
[15:31] Yeah.
[15:32] So yeah, it's been a bit of a ride, but it's been enjoyable.
[15:37] Loved it.
[15:39] Loved the community.
[15:40] Loved the people listening to the other stories.
[15:42] Did you guys get to the community days in Perth?
[15:44] We did like five of them.
[15:46] Yeah, we did two of them.
[15:47] Unbelievable.
[15:48] Yeah, it was awesome.
[15:49] They did a great job.
[15:50] Yeah, we entered two of those.
[15:51] And we bought our daughter.
[15:52] She came to both of them and bought her Infinity T-shirt.
[15:55] So, you know, she's getting into the swing of things and budgeting and all that.
[15:59] I was going to say, change-wise in the household, has much changed?
[16:05] I would say that I don't think we ever really talked about finances or we just sort of did it and we didn't run off a budget.
[16:13] I didn't have a budget.
[16:14] I don't think we were big spenders.
[16:15] I don't think we were always big spenders, but we had a credit card and you'd go out, it's too hard.
[16:21] I'll get takeaway Friday night, then we'll go out Saturday night, I'll catch up with some friends for drinks.
[16:25] All of a sudden, $600, $700, $800 later, you're not even thinking about it.
[16:29] Whereas now, we've been doing it a year and a half.
[16:31] We got rid of the credit card, budget, know what we're sort of doing with it.
[16:36] Yeah.
[16:37] And it just, we haven't missed anything.
[16:39] And I think the lessons for Sienna is that, you know, she understands now that, you know, we've got a weekly budget.
[16:45] She's part of that budget.
[16:46] She's just started high school.
[16:48] So she's part of our FFF.
[16:50] And I said, yeah.
[16:50] So you've got an amount in there for smart for her each week.
[16:54] Yep.
[16:54] So she's got sport, movies.
[16:56] Yep.
[16:57] want to buy clothes, want to go to shops with my girlfriends, whatever.
[16:59] So you've got a budget for her.
[17:01] Yeah, for her.
[17:02] Nice.
[17:03] It's interesting.
[17:04] We're just saying to a few of the other clients and even our RM earlier this morning, there's a kid that would buy his lunch at the canteen or the tuck shop every single day.
[17:13] And she says, oh, Dad, this kid spends $50 a day.
[17:16] I said, no, no, he doesn't.
[17:18] She goes, you mean a week.
[17:19] She goes, no, no, Dad.
[17:20] He's got a big budget for the canteen.
[17:22] I said, there's an 11-year-old kid.
[17:24] The kid eats more than me.
[17:26] I was going to say,
[17:27] Look at me.
[17:27] He's still a study.
[17:29] I'm like, we've got this kid.
[17:30] He's like, no, no.
[17:31] No, that can't be right.
[17:32] But she knows, like, she's got a budget and it reloads if it goes down.
[17:36] It's within the FFF.
[17:38] And I'll just say, you know, when I go to work on a Thursday, I sometimes can't have a coffee because you're having your cookie or you're having... Yeah, that's why I watch it because I never used to really had a budget.
[17:47] I used to go to the supermarket, whatever, do my food shopping, do that kind of thing.
[17:51] And now with that budget, we're, like, watching that every day going, right,
[17:57] So for people listening in at home, right, and they go, oh, this infinity shit, right?
[18:03] One, we want to celebrate your success on here today.
[18:05] That's what this is about.
[18:06] But two, if there's one other family out there that goes, bank said no, no more.
[18:10] Yeah, you got a couple of problems.
[18:12] But we could restructure you.
[18:14] and pay out all your debt and we don't even get a commission, isn't that a better outcome?
[18:18] Why wouldn't you?
[18:19] Exactly, right?
[18:19] Why wouldn't you?
[18:20] Rather than try to write you new notes.
[18:21] Yeah, absolutely.
[18:22] So, like, when you go through that process, tell people what's the hardest thing, like, you paid your home off, right?
[18:30] Yeah.
[18:30] Why would you still stick to a budget?
[18:33] Why?
[18:34] Because we've got to save, we've got to go on holidays.
[18:37] You know, we've still got to do that kind of thing.
[18:38] So you've got a purpose still, even though the mortgage is gone.
[18:41] Yep.
[18:42] Is it hard to still keep saving, sticking to a budget each week?
[18:45] No.
[18:45] Because most people go, oh, yeah, a magical budget fixes it all.
[18:48] Well, it fucking does.
[18:50] Why would you keep sticking at it if you've paid the house off?
[18:54] Why wouldn't you be like, yeah, most people go, when you pay your house off, you just spend whatever the fuck you want.
[18:58] Yeah, well, what do you want to do?
[18:59] We know we want to go on holidays, right?
[19:01] We know we've got to do that.
[19:03] So we want to save money for that.
[19:06] We want to have the freedom to be able to make those choices without having to worry about...
[19:10] when my next paycheck's coming in.
[19:12] You know, it's that kind of thing.
[19:13] Yeah, and I think in listening to, you know, when the rules kind of yours, that delayed gratification and saying, okay, well, we don't actually have to do this, but we can do this.
[19:23] And, I mean, we still have...
[19:25] our holidays, like we're planning to go to Thailand in September.
[19:29] So I said, okay, we have to build that in.
[19:31] And what does that look like?
[19:32] and travel, a roast work in the travel industry for she will be able to hopefully get some good deals and do what she needs to do.
[19:38] She'll pull and then she'll say, look, we want to do this.
[19:40] And we just fitted it within.
[19:41] And then we,
[19:42] sort of look at it over a 12-month period, but also want to be able to continue working on maybe purchasing more properties.
[19:51] So that plan with your financial strategist being Anthony and talking to Ella, this is what we need to do.
[19:57] It's not the end, it's just the beginning.
[19:58] I'm paying that mortgage now.
[19:59] That's a question.
[20:00] It's not the end, it's the beginning.
[20:02] Yeah.
[20:03] Yeah, because everybody wants to just own your own home, right?
[20:06] That's the great Australian dream.
[20:08] And what would them be on the old age pension?
[20:10] Exactly.
[20:10] You know, whereas we've done that.
[20:13] Now we're moving forward.
[20:14] We've got the investment properties, which hopefully in the next year we'll get a few more and, you know, get that waterfall.
[20:20] theory going you know and um but we want to continue this ride we want to be able to have the options to we also watched our parents sort of struggle like like um you know they came my parents came in in 67 i went to school you know we were you know probably um you know you guys look a little different different food now the food they don't whinge about the food now do they look at the food now so how good's this yeah
[20:46] But yeah, you looked a bit different, you had different food and whatever.
[20:49] So they battled hard, they did all the manual jobs that probably other people didn't wanna do and you watch them sort of struggle.
[20:56] Then they gave, even with everything that they did, they were able to, they magically owned their home in their 20 year period.
[21:04] They couldn't even speak the language when they got here.
[21:06] And they paid off the house, had it been.
[21:07] You see back then, and rates got up to 20%, everybody put all of their income in their loan and they did operate a budget
[21:15] and nobody ate out it was a rarity to go out like rare rare rare and no nikes on your feet nah you meal prepped and you you took a cut lunch and i mean i remember back in the day we gave the tight the two for one shopper dockets to go to the cinemas and you'd smuggle in your own food
[21:34] You know, these days you go to cinema and buy food at a cinema, I'll make a couple hundred bucks.
[21:39] Yeah, I think we've kind of all forgotten to go back to basics.
[21:41] It's kind of like, you know... We have.
[21:44] It's just instant gratification.
[21:46] It's just tap away.
[21:47] As you said, tap taparini.
[21:49] Here you go.
[21:49] You don't even know what you're spending because you're just too busy tapping away.
[21:51] But even last night we walked around Broadbeach where you put us up and we were walking around and we looked at a restaurant at $50.
[21:57] 45, we moved to the next restaurant.
[21:59] I said, nah, not that.
[22:00] And then I said, 45.
[22:02] I said, okay, well, we're still trying to run it out of our budget.
[22:05] And it's like we still found a nice place to eat and it was fine and we're able to do that for 50 bucks between us.
[22:10] It's kind of been bred in us now doing it for a year and a half.
[22:14] That's the budget that we set ourselves.
[22:15] It's just a new year.
[22:16] It's just, yeah.
[22:17] It's the new norm.
[22:17] Yeah.
[22:18] But if we've got to go out and go out for a dinner and it's going to blow over, then that's fine because we're prepared to do that for that dinner.
[22:26] We can budget for that.
[22:27] I think the key people don't understand is you can do whatever you like.
[22:30] Yeah.
[22:30] Because you do what most people don't like.
[22:34] You have a structure, you have a plan, you stick to it.
[22:37] And every now and then, you can piss off the tile in at the end of the year for a couple of weeks.
[22:40] If you want to go out, you can go out and have a nice dinner.
[22:43] But you choose not to on the day-to-day norm.
[22:45] Correct.
[22:45] Yeah, that's right.
[22:47] Absolutely.
[22:47] Like we would have, as we said, the takeaway Friday night, and then we'll have our family time on Sunday, and we'll go down to the beach for a walk or the river, and then we'll go out for breakfast.
[22:55] Well, that's $200 just in that normally every week that we would spend.
[22:59] So now that is cut down to...
[23:01] coffees and a milkshake for Sienna, and that's like $40.
[23:05] So that's already cut off $400 off your... And what do you run as your food, fuel, and fun each week for a family of three?
[23:12] So $500.
[23:13] So $300 on food, $50 each on petrol and cars.
[23:17] We don't drive too far.
[23:19] And $100 is not a lot for fun, but we kind of make it work.
[23:24] But we don't go to movies very often anymore, but we don't need to.
[23:28] We've got Netflix and Disney and all that kind of stuff, so you don't really need to do that kind of thing.
[23:32] But if it's school holidays and I'll take it to the movies, I'll do that.
[23:36] I don't think Sina's wanting for anything.
[23:37] No, I don't.
[23:38] I think she's starting out.
[23:39] It's funny.
[23:40] I study at the front of the house, and I'll work from home some days.
[23:44] Yeah.
[23:45] In the weekend, I might watch one of the podcasts, or I might be watching something, and then she'll ask some questions, what's that, Dad?
[23:51] And if it's something financial about money and that type of thing, she'll say to me, oh, and then, oh, that's boring.
[23:57] I said, well, you might find it boring when you want to buy your car or when you want to do this.
[24:00] So I said, so she's now starting to understand that and understand the thing.
[24:05] And we even dangled the carrot.
[24:06] I said to her, look, if you do really well, she's in year seven of high school.
[24:09] If you do really well, do everything you need to do,
[24:12] You know, we'll look at a gap year.
[24:14] And Rose's got lots of family in Canada and America.
[24:16] And I wouldn't mind going to Europe.
[24:18] I've got lots of family there.
[24:19] I said, you can have a gap year.
[24:20] I said, we'll go and do that.
[24:22] Just dangled that carrot in front of her.
[24:23] So just planning those kind of things.
[24:26] That's not going to be a cheap holiday.
[24:27] Yeah.
[24:29] Something for her to strive for.
[24:30] Yeah, absolutely.
[24:31] Yeah, just putting it out there a little bit further down the track.
[24:34] And luckily enough, she started year seven really well.
[24:36] Yeah, she's doing good.
[24:37] And she's thought she might be a little bit, you know, struggle a little bit, but she's doing really, really well.
[24:42] Good.
[24:42] Fifth week in.
[24:43] So what's been the hardest thing on the journey?
[24:48] I think initially for me was just making that change to go right, I thought we were doing quite fine.
[24:54] You know, we had our house paid off, we had two investment properties, we were saving money, we kind of, you know, and I thought we were okay.
[25:00] But when you kind of delve into it a bit more, you know, I've wasted a lot of money.
[25:06] We didn't need to waste this kind of money.
[25:07] So it was actually just switching my mindset on, right Rose, you need to stick to a budget and it's a doable budget, I'm not missing out on anything.
[25:17] and just start with that because Pete's the big driver in the financial side of things and we didn't have enough money in our super so we need to make sure we've got to do, you know, to cover.
[25:26] So that's kind of where this came in as well.
[25:29] So we're, you know, we've still got things to look forward to and want to look forward to but I think that was the heart, just that kind of thing, just changing my mindset about that.
[25:38] Yeah, and I just see it as, even at our age, I said it's something that I want to continue to do, leave that legacy for Sienna, give her a leg up, but also teach her if you do it the right way, not just hand her on a silver platter, just do it and learn about it and do what you need to do.
[25:57] I just sort of see that being that guiding hand through, as I go off into retirement, I can sit and help her with her.
[26:03] Because it's just going to get tougher and tougher.
[26:05] You look at it all around Australia.
[26:07] Nothing's getting cheaper.
[26:08] No, no.
[26:09] I think it was a bit tough letting go of the realms, really.
[26:12] Like, you're telling us to sell our properties.
[26:14] You know, you're telling us to do this.
[26:16] You're telling us, but it's for the right reason.
[26:18] I mean, look, I'd love to just write three loans and get a bigger committee.
[26:21] Yeah, absolutely.
[26:22] But what's in your best interest when we look at that is to sell those two, to clear that one.
[26:27] I've got no loan to write.
[26:29] I don't get any commission.
[26:30] But okay, well now you go, well, what next?
[26:33] Well, okay, now we could do a new loan, could get some equity out and could go buy some more.
[26:37] Exactly.
[26:38] I think that's, oh, I know.
[26:39] It's where it's lost in translation that the average person in my industry just wants the next commission.
[26:44] Yeah, yeah.
[26:44] And they just give you a bit better rate, start you again, whack you on the head, just a number, never talk to you.
[26:49] And it's like, but hang on, there's a smarter way to do it.
[26:52] If I get no commission now, I get more commission later.
[26:55] Later on, I know.
[26:55] Do you know what I mean?
[26:56] Like, and it's better for you, like mathematically better.
[26:58] Yeah, yeah.
[26:59] Yeah, and it's just so different, Jay.
[27:01] Like, it's the community, it's a group, it's the whole, I guess, you're not just a number.
[27:08] And you knew that from the very start, you know, when you're sitting here talking to your financial strategist, you know, once you're going through a health scare and he's sitting there saying, look, no, no, just everyone pause.
[27:17] Do what you need to do.
[27:18] Get your health right and do what you need to do.
[27:21] And you didn't feel that sort of... Yeah, it's really creepy.
[27:24] It pinched ourselves every day.
[27:25] I'm like...
[27:26] I don't know how we got here.
[27:28] I mean, a lot of blood, sweat and tears.
[27:31] 25 years.
[27:32] But I mean, yeah, even we had the last couple of REMs, Doug and Letitia have been coming.
[27:38] And they have first client from like December 2012.
[27:41] Wow.
[27:41] And they're still, they're retired now.
[27:44] Yeah, yeah.
[27:44] But they still come and share and have a couple of beers.
[27:47] Doug actually took the cardboard cutout of Toothless City Home.
[27:50] Last Ram, he's taking it down to his bar at home.
[27:53] How good is that?
[27:53] That would be a life-size cutout of Timmy.
[27:55] That's awesome.
[27:56] And he stole it for his bar.
[27:57] I'll have to ask him to post a picture.
[27:59] I'll draw the line at the people running around in their mancini.
[28:01] That's a bit... Yeah.
[28:04] But no, it is...
[28:06] It's evolved into something really special.
[28:09] He's just national... Like footprint, he's just everywhere.
[28:11] You know what I mean?
[28:12] It's weird.
[28:12] There's people riding the bike down the street in their bloody infinity shirt.
[28:16] That T-shirt's like a magnet, I can tell you.
[28:19] And if they're not a clown, they're like, is that legit or what?
[28:24] Yeah, exactly.
[28:26] When we came in for the big party you threw.
[28:31] Christy party.
[28:33] What a party.
[28:33] Did you have a sore head?
[28:34] So cool.
[28:36] I had sore feet.
[28:36] There was lots of dancing that night.
[28:38] Oh, my God.
[28:39] It was unreal.
[28:39] Even people, I don't dance a lot, but people that never dance, they're like, everyone dance.
[28:43] Yeah.
[28:43] It was such a good night.
[28:47] Such a good night.
[28:47] Wait till you see what we've got planned for this year.
[28:50] Can we come back?
[28:51] Yeah.
[28:52] Okay, hold on.
[28:52] We've got to plan that one.
[28:53] Yeah.
[28:54] Work that in.
[28:55] We'll put the dates out well in advance for everyone.
[28:58] Yeah, okay.
[28:59] Beck started planning the next day.
[29:01] She can throw a party.
[29:02] Yeah.
[29:03] It was unbelievable.
[29:04] And the acts that you chose and when they came on and, you know, your final act and how they got everybody up.
[29:10] Oh, yeah.
[29:10] Just like, that was rocking.
[29:12] Yeah, it was cool.
[29:12] You know, and you can't explain that.
[29:14] And then you see it on all the reels that come up and all the feeds.
[29:16] Oh, wow.
[29:17] Yeah, that's... What broker does that for you, hey?
[29:19] Throws you a party.
[29:20] Yeah, like that.
[29:20] None.
[29:21] Nobody does.
[29:22] Like, it's crazy when you kind of, once you join the Infinity family, it is like a family.
[29:27] You meet the best people.
[29:29] We met the best people at the airport wearing our Infinity T-shirts.
[29:32] And they came up and said, we're lifelong friends, you know?
[29:36] On the same flight together.
[29:38] Yeah.
[29:39] That was our second REM, but this was their first REM.
[29:41] I think Tracy and Steph, I think you did a podcast with them last November.
[29:44] Yeah.
[29:45] So, you know, and you just meet and we met a whole bunch of other people from up north.
[29:49] So, you know, it just is.
[29:50] Everybody is...
[29:51] Just really welcoming and you're all in the same boat.
[29:55] Different boat, as in everybody's got their own paths and it's hard not to compare.
[29:58] But you're all rolling in a similar direction.
[30:00] Yeah, exactly right.
[30:02] I actually just absolutely feed on the, I guess, the results that people have.
[30:08] Like it's not only your result and even if it's small wins and some of those stories, you know, the single bums and...
[30:14] you know, a couple that have never owned their home and then finally they've been able to do it.
[30:20] There was one the other day.
[30:21] They've been out of the market forever in a day.
[30:23] He had leukemia and all sorts of stuff.
[30:25] And they got into a home again.
[30:27] So, you know, they're popping the bottle out the front and they're investing.
[30:30] It's pretty cool.
[30:31] It's pretty cool.
[30:32] You know, you're living out the reality.
[30:34] that you didn't think that that was ever gonna happen.
[30:37] And the amount of people that you just have a look that you've helped is just like, it's almost like puts a little bit of a, you know, the hairs on your skin standing up.
[30:47] The amount of people that you've helped and what you've done and the journey.
[30:51] Then you just follow their journey and see how they're going.
[30:53] And yeah, that's pretty good.
[30:55] Well, you're gonna get that because, like when you met those people, it was your second REM when you said it was their first REM.
[31:01] They get to pick your brain instead of my brain.
[31:04] Do you know what I mean?
[31:04] They're like, oh, I don't know about this fucking guy.
[31:06] Yeah, yeah, yeah.
[31:07] So they get to talk to somebody, well, yeah, we were like that too.
[31:10] And it helps because you can talk to someone who's a year or 10 years or five years ahead of you.
[31:16] So it helps that they can ask different questions for somebody else.
[31:19] Yeah, there's almost like 20 or 30 people on that flight.
[31:22] Because we wore the T-shirt and we were in the middle just waiting for the flight, they were the first ones to come up and then they were so...
[31:29] exuberantly through as more as there and then you just get pumped with the just wait you'll see and then how do you explain REM it's like oh you'll see you can't everyone says see they get I do as well yeah I go home in the fetal position in the theater
[31:48] But it's hard to explain.
[31:50] Then everyone gets withdrawals.
[31:52] Like, I just want to go back.
[31:53] Yeah.
[31:54] I know.
[31:54] Can we go again?
[31:55] It's like an explosion of info.
[31:57] Yeah.
[31:57] But then it's like also the biggest party ever.
[32:00] Yeah.
[32:00] But it's like you met the coolest group of people ever.
[32:03] Yeah.
[32:04] You eat way too much.
[32:05] Yeah.
[32:05] You drink way too much.
[32:07] It's, yeah.
[32:08] There's no one trying to tear you down too, G. Like it's everybody, you are just in that community through your socials and the private page.
[32:15] No one's trying to tear you down.
[32:17] I don't think I've ever seen maybe one or two slightly negative comments, but you don't see that.
[32:21] And it's just people feel that.
[32:22] G was sort of out.
[32:23] No, just get rid of them.
[32:24] I'm pretty quick.
[32:25] I'm like, oh, fuck off.
[32:26] Here's your money.
[32:27] But like, like, low is me.
[32:28] It's like, you can't help someone that won't keep helping themselves.
[32:32] One and one equals two.
[32:33] If you do one and one, it will be two and then it will continue to grow.
[32:37] If you don't fucking do it.
[32:39] It's like every day I go to the gym with my trainer.
[32:41] He flogs the shit out of me.
[32:42] I do everything properly.
[32:43] Yeah.
[32:44] It's my food.
[32:45] Yeah.
[32:46] If I ate properly, I'd be Mr. Olympia.
[32:48] Yeah.
[32:53] so tell me if if you're if a family listening in right now besides celebrating your success if you could speak directly to somebody watching this on youtube or spotify whatever right now and they've got a mortgage they've tried to invest and they think they're doing all right and they've got you know young kids
[33:11] There's a lot that we're doing wrong.
[33:12] We don't know what we don't know, right?
[33:15] Selling's taboo.
[33:17] You know, just get a better rate.
[33:18] What's two or three things you could tell someone right now listening in to go, hey, you should look at this.
[33:23] You should try this.
[33:24] You should have a butt.
[33:26] Like, what's a couple of tips you could give?
[33:27] Because you've experienced it.
[33:29] You've lived it.
[33:29] Well, do your webinar first.
[33:31] Yeah.
[33:32] And it's free.
[33:32] It's free.
[33:33] I mean, do it all yourself.
[33:34] I don't care.
[33:35] I'm doing all right.
[33:35] In this world of AI and people getting scammed and who do you trust and who do you not trust and what advice, you know, there's so much out there when what's right, what's wrong.
[33:47] So, A, the webinar, have a listen to that.
[33:50] But if you...
[33:52] If anything, just have a look at your budget.
[33:55] Watch what you can cut down on and save because you waste a lot of money on what you don't really need.
[34:03] You don't really need to.
[34:05] Shit.
[34:06] You don't.
[34:07] Stop your Kmart runs.
[34:08] Reduce them down a little bit.
[34:11] Watch your why.
[34:13] If you have a plan, have the strategy, and I said build a network of people who know what they're doing and it's proven in what they do.
[34:24] It's proven.
[34:27] Don't be scared to sort of jump in and give that, because everybody has that, oh, yeah, I'm going to, yeah, that's a really big change, and it is, but just get in there, and then you just don't know what you don't know normally.
[34:39] Take the leap of faith.
[34:40] Trust the process.
[34:42] Why do you reckon Aussies are so fucking sceptical?
[34:44] I don't know.
[34:45] I don't know what it is.
[34:46] Yeah, it's pretty bad.
[34:48] I don't actually know.
[34:48] Because obviously we're launching America now, right?
[34:51] Yeah.
[34:51] And they're so passionate.
[34:52] I mean, do you be a bit so passionate?
[34:54] Once you give them the mathematical proof, man, it's like religion to them or sport or politics.
[34:59] They're in.
[35:00] They're so right.
[35:01] I mean, we know it's real.
[35:03] There's plenty of people out there doing it.
[35:04] There's plenty of proof.
[35:05] People are still like, oh, I seen this morning I got up and there was a comment, oh, I'm
[35:08] Oh, this sounds too good to be true.
[35:10] Explain to me more.
[35:11] And I'm like, well, it says, press here for the free fucking webinar.
[35:15] Yeah, yeah.
[35:15] You can hear it for yourself.
[35:16] See, over the years, I used to respond to every single person.
[35:19] Impossible now.
[35:20] It's too big.
[35:21] And now I look at that and I'm like, fuck, whatever.
[35:23] If I'm ever logged in the team, it's like...
[35:26] At what point do people get so fucking lazy that they'll fart something out but not take 10, like you spend two minutes to type it.
[35:34] Yeah.
[35:34] Spend two minutes watching the fucking intro video.
[35:38] The barbecue mafia where they're in with a group and think, oh yeah, we know what we're doing.
[35:42] And they're like, oh no, that couldn't possibly work.
[35:45] We deliberately sort of kept it a little bit quiet in the first.
[35:49] And then a few things with one of the reels that came through where we paid the house off, it was family and friends that...
[35:55] Rose, is this real?
[35:56] Is this AI?
[35:56] Is this AI?
[35:57] Is this actually you?
[35:59] You paid your house off?
[36:01] You paid your house off?
[36:02] And out of the blue, she goes, oh, and she hadn't spoken to her cousin in years.
[36:06] And this person's reached out and said, yeah, that's real.
[36:10] And then it's a pinch yourself moment.
[36:12] It said, oh, people are reaching out.
[36:14] And then they ask questions.
[36:15] Oh, you need to go and do it.
[36:16] I said, you can't lead a horse to water.
[36:18] Yeah, people find things when they really, really need them.
[36:22] They'll go looking.
[36:23] Then they won't talk.
[36:24] They'll actually watch it.
[36:25] You can't force them.
[36:27] We weren't people that had toys.
[36:29] We didn't have a caravan, didn't interest us, or a boat, or anything like that.
[36:32] So we didn't want to have all of that plus our house.
[36:36] But I know a lot of people want that, and it's that instant gratification.
[36:39] I want my car, I want my boat, I want my caravan.
[36:43] And as you said, that's just money that's wasted.
[36:46] It's sitting in your driveway.
[36:48] Take it off your mortgage.
[36:49] You don't need that.
[36:51] And maybe a lot of people don't like to get told what to do.
[36:54] Yeah, well, that's a big point.
[36:56] No one likes to be told what to do.
[36:58] I remember in the early days talking to Anthony just as I've joined up and he sort of said, yep, this is what you need to do.
[37:04] And then I remember him putting it on me saying, do it, don't do it.
[37:10] you know, do what you need to do.
[37:11] And I had to think about it, spoke to Rose, and I said, no, no, I'm all in.
[37:14] I want to do it.
[37:15] And it was just that first hesitation.
[37:17] Well, why do I need to sell these two?
[37:19] Why can't I just keep these two?
[37:20] Well, you can't get any more.
[37:21] You can't get any more.
[37:22] You can't do it.
[37:24] And all we can do is tell you the truth.
[37:26] Yeah, that's right.
[37:26] You're stuck.
[37:27] You're stuck.
[37:28] You've come to us because you're stuck.
[37:30] You can sell those, clear that, you're debt free, and now we can open up capacity for three, not two.
[37:36] People don't realize you'll all get stuck.
[37:38] Unless you can earn more money, you get stuck.
[37:40] So once you've made money, instead of earning more, you've just earned all that capital, liquidate it, clear debt.
[37:46] Once you clear that bad 30-year debt on your home, your capacity opens right up.
[37:51] Yeah.
[37:52] I'm just, I just kicked yourself and didn't find you guys earlier.
[37:54] Really?
[37:55] I've got a few bucks for every time I've heard that.
[37:59] I know you.
[38:00] I'm in the pocket.
[38:01] I know you.
[38:02] You know, we joined, you know, like in 2008 after we built the house and I didn't go to that, you know, other person.
[38:08] But no, it's all good.
[38:09] Things in life happen for a reason.
[38:10] It happens for a reason.
[38:12] We're here now.
[38:12] We're part of the family now and we'll just enjoy the journey and I just, I do, I still see it even though we're mid-50s.
[38:19] I still see, you know, I still think...
[38:21] there's some stuff I still want to do and get that financial freedom to, you know, if I want to be able to stay six months in Perth and then six months in Melbourne or I want to, you know, travel, I want to be able to do that.
[38:30] And this will probably, hopefully, and I know it will, allow us to probably do that.
[38:35] Not being greedy or anything, not being trying to just, you know, set Sienna up but also teach her and hopefully she can do what Oscar did and do what he needs to do.
[38:45] He's a pretty impressive young man.
[38:47] Oh, yeah.
[38:47] Amazing.
[38:48] Listening to him speak is just like, wow.
[38:50] But mind you, pretty impressive parents.
[38:52] Yeah, yeah.
[38:53] Because that comes from some way.
[38:54] That comes from parents, yeah.
[38:55] Yeah, that's absolutely.
[38:56] Absolutely.
[38:56] But it's mind-boggling.
[38:57] And not only them.
[38:58] I mean, you've got – you can reel them off how many different – and different stories and everything.
[39:03] But it's just amazing to see those sort of stories.
[39:05] And that resonates with a huge amount of people.
[39:07] And now our niece is 21 and she's come to Pete and it's like, oh, Uncle Pete, I've got some money.
[39:12] What do I – you know, what's happening?
[39:14] What's infinity?
[39:15] What's all about –
[39:16] So it's kind of like it's starting to infiltrate into... Yeah, it gets a bit of... People, they'll watch what you do.
[39:24] They'll usually criticise, but they'll watch what you do.
[39:26] They'll criticise.
[39:27] They'll watch, watch, watch.
[39:28] They'll wait for it to fail.
[39:29] When it doesn't fail after long enough, they'll start to ask.
[39:33] Yeah.
[39:33] And that's... Just do your thing.
[39:35] Head down, bum up.
[39:36] Yeah, that's right.
[39:36] When people ask, hey, here you go.
[39:38] Here's the info.
[39:39] Off you go.
[39:39] I think it goes back, circles back to what you talk about.
[39:42] Tall poppy syndrome too.
[39:43] Like...
[39:44] we're very easy here in Australia to tear people down, mate, instead of building them up.
[39:48] And that's, I agree with you, with the Americans.
[39:50] Okay, once they're in, they're in, their ball's in, and yep, we're in.
[39:53] Yeah, Australians are, a lot of Australians are never quite fully in.
[39:56] Do you know what I mean?
[39:56] Like, you're sort of one foot over each line, and you're sort of, oh, I don't know.
[40:01] I'm not quite sure, waiting for it to fall down.
[40:02] Yeah, half pregnant, like, I don't know, maybe.
[40:05] Yeah.
[40:06] But, yeah, I think...
[40:08] The one thing I see here over all of the years of all the data is as soon as someone's fully immersed, the results.
[40:15] Yeah.
[40:16] Wild.
[40:17] When they half-ass it, result, good, bad, good.
[40:21] Because we save them a bit of money and they're like, yeah.
[40:24] and then they blow it, instant gratification.
[40:26] Yeah.
[40:26] And you're back on the horse.
[40:28] And it's this yo-yo.
[40:29] Yeah.
[40:29] And it's this manic behaviour.
[40:32] But if you just stick to it, it fucking works.
[40:34] Yeah.
[40:34] Absolutely, it does.
[40:35] And you can go into a bit of a holding pattern, but you actually know where you're headed.
[40:40] And I think your RM and your financial strategist, even your property strategist, there is a plan there, and they keep you informed.
[40:47] I don't have to speak to Ella every month, but I'll check in, and she'll think she's been brilliant, by the way.
[40:52] True.
[40:53] Yeah, so it's just really good to sort of do what we need to do.
[40:56] But I said, oh, if I need something, I think we had a small hiccup with one of the properties and they wanted to charge us interest because the loan wasn't going to settle and you guys just got on a blower.
[41:05] I love it.
[41:06] And it was done in about an hour.
[41:08] Do you know how many developers we're doing there?
[41:11] I love it.
[41:13] It was funny just going through that moment.
[41:15] First, I think it was with the lawyer and then it was through Infinity and then I said, we'll just make a call, Pete.
[41:20] We don't have to worry about that yet, eh?
[41:22] And then we just stopped and they dealt with it all.
[41:24] There's no point being as big as I am if you can't throw your weight around.
[41:29] No, we've got to look after you.
[41:31] I know.
[41:32] So how does it feel today financially where you're sitting today as a family?
[41:38] Stressed?
[41:38] Comfy?
[41:39] Could be better?
[41:40] It feels good.
[41:42] I feel a bit free at the moment.
[41:44] Yeah.
[41:44] because I know the mortgage is paid off and we've got the properties that we've invested in.
[41:50] And we're now in a bit of a holding pattern at the moment.
[41:52] So we're just saving and waiting for that next roll of the dice.
[41:58] And it costs been 12 months, but we're all in.
[42:02] So I'm comfortable where we're at.
[42:05] It's funny, we just finished building the house in 2017 and I said to Rose, I said, oh, I think we should use some of the leftover from equity and invest.
[42:16] And she goes, we've just finished building, we've just done this.
[42:19] And I said...
[42:20] One thing at a time.
[42:21] But we were able to do it at that stage.
[42:23] We were able to do it.
[42:24] And so I said, you know, I wouldn't mind doing that.
[42:27] And then when the itch came again, I said, oh, I still think we're undercooked a little bit.
[42:32] I'd like to do it again.
[42:33] And I had to juggle a lot of things.
[42:34] But just after COVID, I was able to buy again.
[42:38] And then that still wasn't enough.
[42:40] Again I'm not trying to be greedy I wasn't trying to I think it was just all about No but you're looking at the numbers for retirement Well not even retirement just super So what's the goal What's the big goal for you guys Where would you like to be
[42:54] I'd love to be able to, I'm in the public service, I'd love to be able to leave that role, possibly three to four years, just get Sienna through that high school period.
[43:04] And then I wouldn't necessarily want to retire.
[43:06] I want to go and do something I'm passionate about and go and work and do anything.
[43:11] He can listen to you and Doc Wilson talk all day long, G. All day.
[43:15] No, it's not that right.
[43:16] He loves it.
[43:17] It's Rachel now.
[43:17] He loves it.
[43:20] Yeah, so I just want to be able to get to a point where we can, if we want to retire, we can.
[43:26] If you want to continue to pursue certain activities and do things, maybe share our time between Perth and Melbourne.
[43:33] travel, you know, get Sienna sort of set up.
[43:35] That's the big legacy piece for me, I think, is key.
[43:39] And that's driven from my parents and, you know, where they started from.
[43:43] I said, look, I want her to give her a bit of a hand, but also teach her and she can hopefully...
[43:49] It's just the freedom of choices.
[43:50] You know, we don't want to be living off the pension.
[43:52] Choice is the magic word.
[43:54] Yeah.
[43:54] Choice to go to work, stay in bed.
[43:57] Volunteer, not.
[44:00] Choice.
[44:00] You can do all that.
[44:01] Choose to do whatever you want to do.
[44:02] Absolutely.
[44:03] You know, we're still running parallel with her going through to high school and, you know, we're heading towards that.
[44:08] 60 mark for Pete.
[44:09] Yeah, I particularly, you know, like my job.
[44:10] It's not the end of it.
[44:11] Yeah, and I'm like, I love, you know, giving back, you know, the job that I do, but it's not that stimulating.
[44:19] But it's a means to an end at the moment.
[44:22] And then I'll just continue to sort of do that.
[44:25] And then when the opportunity arises, I'll...
[44:27] Yeah, look at the next sort of phase.
[44:29] Yeah.
[44:30] We've done the first part is built the house, our dream home.
[44:34] We're not really going to be...
[44:35] But we'll probably downsize once she finishes.
[44:37] We'll probably downsize.
[44:38] And then we'll have all that equity and all that money left to go and... Go again.
[44:42] Go again.
[44:43] Round two, round three.
[44:44] Yeah, that's exactly right.
[44:45] You know, and then while we, you know, cruise in Europe or something, I don't know, we'll figure that one out.
[44:50] Yeah, travel's a big thing for us.
[44:51] Travel's a big thing for us.
[44:52] While we're able and healthy.
[44:53] Take your own gap year.
[44:54] Yeah, yeah.
[44:56] Yeah, true.
[44:58] Yeah.
[44:59] But that's something because we can.
[45:00] Plan your gap year.
[45:01] Yeah, yeah.
[45:02] We just want to enjoy life and experience, especially since Pete had such a health scare.
[45:06] It really just kind of brought the focus in on...
[45:11] family time it's our time building the memories with our daughter and even extended family just spending the time actually time out to do and we're fortunate we've got both our set of parents still alive in their 80s mine are in melbourne i i get to see maybe twice a year we will go every second christmas and then we spend a christmas in perth and i thought we'd sort of alternate between the two states and everything and um we're fortunate enough to still have them you know both sets of parents sienna's got both sets of her grandparents and
[45:39] I still don't want to go caravanning around Australia.
[45:41] No.
[45:41] Not my thing.
[45:42] No, neither.
[45:43] No, no, that's great for people who want to, but not my thing.
[45:46] You know, that's not for me.
[45:48] That's fine.
[45:49] So I won't ever have a caravan sitting near mine, or ever.
[45:53] But yeah, that's kind of...
[45:56] our end goal really is to be able to just have the choice to do that.
[46:01] Yeah, and I've got a few.
[46:02] My parents, you know, they're still in their family home and they're getting on and we've got to make the decision what it looks like for them when they're possibly not able.
[46:11] So working with my sister in Melbourne, what's the strategy for them?
[46:15] If I put myself in a good position, I can go back to my sister and say, well, maybe we can do this and maybe we can work on this and maybe we can do that and help them.
[46:23] And just give back.
[46:24] I mean, they've just, that's all they've done all their life.
[46:26] And we want to make sure that gets through, you know, to Sienna and understands this is...
[46:32] hard work this is grit this is not um an easy journey but i was gonna say what what do you what do you think it is that's i mean you're tall popular what do you think it is that stops people from having a crack like is it just the lack of knowledge or maybe i don't know someone said to me on the weekend we had a master class but we were having a crack we just got shit advice it's the opposite of everything you got like everyone says right
[46:56] We were told to do the opposite of what you do.
[46:58] And it's like, surely the whole industry can't be that fucked.
[47:02] What do they teach them?
[47:04] Like, what is the industry teaching them?
[47:06] I don't know.
[47:06] I was just looking at Sienna's curriculum and I said, where's the financial?
[47:10] I know she's only year seven and I'm looking at what she...
[47:12] I said, there's no financial piece.
[47:14] She walks out at 18.
[47:15] She might not even be able to open a bank account.
[47:19] At 18.
[47:19] Oh, I'm sure she will.
[47:20] We'll teach her.
[47:22] And if this is the only thing she learns, I said, oh, well, there's budgets, there's... Yeah, they're going to teach algebra and Pythagoras theorem.
[47:29] I mean, I always joke and say, stop, drop, and roll.
[47:33] I knew what to do if I was on fire.
[47:35] Yeah.
[47:35] I've fucking never been on fire.
[47:37] Pythagoras serum, never used it.
[47:39] Do you know what I'm like?
[47:41] I think people just also just think you've just got to rent in life.
[47:43] You just, you know, there's just people... That's the biggest trend I'm seeing right now is the younger generation...
[47:49] They've got Gucci belts, fancy watches like me before they can afford them, brand name.
[47:54] Some of them walk around in thousands of dollars worth of clothes and jewelry on.
[47:59] Oh, I'll never be able to afford to own.
[48:01] Well, if you didn't fucking have $50,000 worth of brand name clothes and shit, you would.
[48:05] That's not fun.
[48:06] I think it's keeping up with the Joneses, isn't it?
[48:10] We're not like that.
[48:11] So just because the other person has that house or that car, whatever...
[48:15] we're not sort of that way inclined.
[48:16] I said, we'll just do it our own way and you don't have to sort of just keep up.
[48:22] So I would say that if people are thinking about it, they've got the capacity to do it and you can see it in the community what people have been able to achieve just by just restructuring and get rid of the boat now, you go get the boat later, the caravan, get rid of that, just get the loan down and do that.
[48:36] And it is basic, but it's...
[48:39] the majority of people aren't doing it.
[48:41] No, I know.
[48:41] And then you're giving people your money back if you can't help them.
[48:44] But give it a crack.
[48:45] Yeah, well, hundreds every month at the moment.
[48:47] Do you know?
[48:47] It's kind of like at least you're also giving free advice and then to go on your way and go, right, this is what you need to do.
[48:53] You've got that much content out there.
[48:56] People could if they want to do.
[48:57] But I think having that community and having that structure and a team around you...
[49:02] just makes it, okay, well, if I do get to that level, I've got a lawyer, I've got an accountant, I've got everything in place.
[49:09] If I was to sort of, you know, kick the bucket early, Rose can just pull the trigger and say, well, I've got an accountant, I'll sell this, I'll do this.
[49:16] That's, for me, that financial piece was missing and I think that comfortability that Rose has now, and it happened to me.
[49:22] Like that big scale was relatively healthy, a little bit overweight, a little bit chubby, but yeah, then it happened and we took rest off.
[49:32] But I didn't, I wanted to continue the journey and I just said I didn't want that to stop us.
[49:36] And I thought having that, I can just comfortably do the rehab, do what I need to do and just keep persevering.
[49:43] And he was comfortable knowing that I was looked after by you guys as well, you know, and he could just concentrate on him getting better and rehabbing.
[49:52] I love it.
[49:53] Weird one.
[49:55] What do you guys want to ask me today?
[49:58] All the things.
[49:59] Oh, all the things.
[50:01] I've thought about this a lot, like getting an opportunity to get in front of you and find out.
[50:05] I think for me, for the couples that have got to where we've sort of got to at this point, and it doesn't matter with age and everything...
[50:14] As long as we put, you know, the pillars in place, how would you sort of recommend that you push forward if you're in that retirement phase or you're in that, what I call, you know, that five year before you want to possibly retire to sort of fast track the progress?
[50:30] Like if you're in your mid-50s and...
[50:34] Transition to retirement is an interesting one.
[50:36] It's completely different for every single couple or single.
[50:40] You're going to have an age you want to stop work.
[50:44] You're going to have a certain amount of money you want every week.
[50:48] All those sorts of things.
[50:49] So your individual plan.
[50:51] So you should be planning for that now, well before.
[50:54] So then when you get to that pre-transitionary time, and that's when things start to change.
[50:58] That will be completely different for every single person because your goals and objectives are different.
[51:05] Typically, that's when you'll start the sale down of some of your assets if you need to access liquidity or capital.
[51:12] If you're structured correctly, you won't.
[51:14] You'll just hold them.
[51:15] Because nothing ever gets cheaper.
[51:17] Rents will go up.
[51:18] Days will go up.
[51:20] I hope we have a shit year.
[51:21] Touch wood.
[51:21] But I hope we have a shit year.
[51:23] And the market drops 5%.
[51:24] Because everyone will freak out and shit themselves.
[51:26] But guess what happens after it drops 5?
[51:28] It jumps 12 or 20.
[51:30] Right?
[51:31] So it's that fear and lamestream media and barbecue mafia dumb shit.
[51:34] Yeah.
[51:35] So, look, everyone's different.
[51:37] Everyone's unique.
[51:38] I mean, at some point in time, you look...
[51:41] I always work with this.
[51:42] Sell one, buy two.
[51:43] Yep.
[51:44] Yep.
[51:44] So you get to a point where one's made, you know, you make up number.
[51:47] You buy for eight and you sell for 1.2 and you're 400 better off.
[51:51] Yep.
[51:51] Then I deploy the 400 and split it 200 and 200.
[51:54] Yeah.
[51:55] So I always say to whilst you're able-bodied, hungry enough, have the risk profile to continue to grow.
[52:02] Yeah.
[52:02] Because if you go, oh, well, I'm 55 and, you know, I could stop at 67, but I'd like to stop at 60.
[52:08] Well, if you're fit and able, assume you could go well past 60 to get to 60.
[52:12] No.
[52:13] I'm really happy, I'll keep going.
[52:14] Well, you could have kept building all of that time.
[52:17] Like a Kerry, for example.
[52:19] So imagine most people get a 50-50.
[52:21] I want to stop at 60.
[52:22] So they sell down everything, they do nothing, and they've just got cash.
[52:25] Well, cash is trash, it'll just dwindle away, and inflation will eat away at it, right?
[52:29] So I just always say to people, to be constantly looking to build, just 1% better, 1% better, continue along, until the day you do want to pull the pin.
[52:39] The day you wake up and you've had enough, or you're like, you know what, I don't have another year in me or six months in me, my back sore, whatever if you're trading, that's when you start to look for that transition.
[52:49] That transition.
[52:50] I don't suggest people actually focus on an age.
[52:52] Yeah, okay.
[52:54] There's so many people in their 60s and 70s crushing it because age is just a number to them.
[52:59] Yep.
[53:00] But I also do suggest that people travel while they're able-bodied, experience things while they're able-bodied, all those sorts of things.
[53:08] Spend time together, family, all of that.
[53:10] Exactly.
[53:11] Because, you know, typically I call it 20-40-20.
[53:14] You spend 20 years of your life trying to figure out who the fuck you are and the meaning of or just life.
[53:20] Then you finish school, work part-time, uni, whatever.
[53:23] Somewhere in your, you know, 20-ish, 19, 20, 21.
[53:27] Then you're off in the real world.
[53:29] Yep.
[53:29] You spend 40 years busting your ass, hustling away.
[53:34] Now you're 60.
[53:35] Give or take.
[53:35] 58, 60, you know, 20, 40, 20.
[53:37] Split it up.
[53:38] Yep.
[53:38] Big chunk in the middle that hurts.
[53:41] You get to 60 and your body's decrepit, you've got old injuries, you're fucking not interested in traveling, you're a grumpy old man like I probably will be.
[53:50] You can't, you know, like... And so now what do you do?
[53:53] You get really excited over having a cup of tea.
[53:55] Cup of tea, Darl.
[53:57] Doing the gardening, like you've missed all that opportunity through that 40-year period.
[54:03] So, and then funny enough, you end up owning your home, hopefully have some super, but you've got no desire to enjoy it or spend it.
[54:12] And what do you do?
[54:13] Hand it on to the next generation.
[54:15] So I really like people to be conscious of that 20, 40, 20.
[54:18] Yep.
[54:19] And if we can get that 20 and bring the 40 down to 10, 20, 30, see where I'm going?
[54:27] Then you can 40s, 50s, enjoy yourself a bit.
[54:30] Yeah, absolutely.
[54:31] So I'd be conscious for you guys to do the European family, Canada, USA family.
[54:37] And also even not so much just a gap year, but while she's younger, because a well-traveled child will typically be much more mature young adult because they've had further cultural experiences, memories, things they enjoy, all of that.
[54:53] A lot of people...
[54:55] um, we'll set that big goal and strive towards it.
[54:58] But sometimes those, there's mini macro, micro, sometimes it's good to have those little short ones and have that as the taster for a gap year.
[55:06] Because at the moment, Oh yeah, it might be cool to have a gap year, mom and dad, but what's it like?
[55:11] I don't know, go to USA Canada this year, go to Europe next year.
[55:16] Yeah.
[55:16] You know, so I would always encourage, try to experience something each year.
[55:21] Yeah.
[55:22] You know, the big things.
[55:23] Yeah, absolutely.
[55:23] Which is what we do.
[55:24] Which is what we do.
[55:25] Yeah.
[55:26] Yeah.
[55:26] But that transition thing,
[55:28] I tell people to try to not fixate on an age.
[55:33] Don't fixate on an age and even a number.
[55:35] It's like have a plan that seems like it's way out of your reach when you meet me because everyone comes wanting to do this and I show you you can do that.
[55:42] You're like, fuck.
[55:43] So have this wild plan and we'll land somewhere in there.
[55:48] And stick to it.
[55:50] See, no one sticks to one plan anymore.
[55:52] No one wants to do a four year apprenticeship.
[55:54] No one wants to do a two year training.
[55:56] Like stick to it and see it through and you become a qualified trades person.
[56:01] So it's the same with stick to your financial plan, stick to your financial strategy, whatever it is.
[56:06] And it will work.
[56:07] Yeah, absolutely.
[56:07] Because it needs time in the market.
[56:09] It needs time, yeah.
[56:10] And then you should get yourself into such a strong position or comfortable position where you've got choice, then you can do whatever you like.
[56:18] Yeah.
[56:18] You're like, you know what?
[56:19] Yeah, I'm going to pull the pin on the job.
[56:21] I've got annual leave.
[56:22] I've got long service leave.
[56:23] I've got this, blah, blah.
[56:25] And let's go do a month overseas.
[56:28] And enjoy it.
[56:29] Yeah, and enjoy it.
[56:30] Or we can.
[56:30] Or the body doesn't start failing.
[56:31] You're not like, oh, I've got to go back to work.
[56:33] Yeah, exactly.
[56:34] You've always got to have that, like, you know, a little bit of a carrot there.
[56:36] So you don't have a small trip and mix it all up.
[56:38] Like, we're going to Thailand in September.
[56:40] But we just put it in the budget.
[56:42] We put it in.
[56:42] We planned it.
[56:43] And we just put it in over each month.
[56:45] I thought, okay, what do we need?
[56:46] How much is it going to be?
[56:48] And then...
[56:50] It just works like clockwork.
[56:51] And then you've got all these funds each month because you're not spending it on alcohol.
[56:57] You're not spending it on cigarettes or bedding or whatever else.
[57:00] We've got a plan for every single dollar.
[57:02] You don't have to completely cut it out.
[57:03] It's not as if people have to completely cut everything out.
[57:06] Just balance it out.
[57:07] Just balance it out.
[57:09] Don't fixate on a number or an age.
[57:11] What else do you want to pick my brain on?
[57:14] What else would we have for?
[57:15] I don't think I had much up my sleeve.
[57:19] Structure.
[57:19] A lot of people talk about how you purchase your property.
[57:23] You've got to, under your own names, you've got to do this.
[57:25] I just love, I guess, trying to understand, okay, well, with...
[57:32] under a structure, is there any real reason to sort of do it?
[57:37] None.
[57:37] None.
[57:37] Yeah.
[57:38] None.
[57:39] When I can show you on a class a hundred and something million dollars of my assets in mine and Rebecca's personal name and that's just some of them and they're in our personal name, what does that tell you?
[57:48] All right.
[57:49] So there's all sorts of reasons why you would not do it in a trust.
[57:53] Banks are even stopping trust lending now because the buyer's agents with no socks are running around just selling it to you because you can't afford it in your own name.
[58:01] Yeah, yeah.
[58:02] So the number one gimmick of buying in a trust is one, they exclude serviceability, a lot of the banks.
[58:09] Yeah.
[58:09] So if you can show that it will pay the rent, will pay the blah, blah, they'll give it to you.
[58:13] Whereas in your personal name, it's five or 6% plus a 3% buffer.
[58:18] They only take 75, 80% of the rent.
[58:19] There's all these checks and balances to protect you as a consumer.
[58:23] Yeah.
[58:24] There isn't in the commercial lending.
[58:25] Yeah.
[58:25] Okay.
[58:26] The interest rate's a bit higher.
[58:27] Sometimes you need more deposits, sometimes you don't.
[58:30] Yeah.
[58:30] But you've got to look at it in Australia.
[58:32] When you're investing in real estate, one of the largest benefits to it is the tax deductions and the depreciation.
[58:40] Now, you go to work, you earn a really good taxable income.
[58:44] To get any offsets or deductions to that, investing is the way to go.
[58:49] trust some fucking make believe structure over here for what?
[58:55] It doesn't make sense.
[58:56] Yeah.
[58:56] If you have losses, losses can get trapped in.
[58:58] There's all these issues with actually doing it that way, as opposed to Graham buys a property.
[59:05] Yeah.
[59:06] Graham gets the tax benefits, the discounts, the ownership.
[59:09] So it's normal residential personal lending.
[59:12] And I get all the benefits along the way, the tax discounts along the way, and I get the income.
[59:18] So I'm yet to see really good reasons for it, except that they're gimmicks like saving tax.
[59:25] You can be the smartest tradie in the world and pay no tax.
[59:28] That means you're fucking broke.
[59:29] Yeah.
[59:30] Right?
[59:30] I pay millions of dollars in tax.
[59:32] I'm proud to say it.
[59:32] I contribute fucking heaps to society.
[59:34] You know what?
[59:35] Because I also claim millions of dollars in tax deductions.
[59:37] Yeah.
[59:38] So it's like the more you earn, and people are tax the rich, tax the rich, the more they earn, the more they fucking pay than you anyway.
[59:45] You want to do a flat, it's wild, right?
[59:50] So anything that you can't explain to your 12 year old daughter, probably shouldn't do.
[59:55] Do it, yeah, okay.
[59:56] And it's probably a gimmick.
[59:58] Now the other, so two reasons.
[1:00:00] One, it's easier to get back recently, it was easy to get a loan without showing you could pay the loan.
[1:00:05] So that's what buyer's agents were promoting on social media.
[1:00:08] Two, risk mitigation.
[1:00:11] If someone were to sue you, the asset's in a trust.
[1:00:14] Well, that's a gimmick as well, okay?
[1:00:16] Because you've got this convoluted expensive structure, yeah?
[1:00:20] And if it's set up deliberately just to hide an asset, it will get pierced and they do get pierced in court.
[1:00:25] Yeah.
[1:00:26] And then on top of that, if I am worried about getting sued, like I'd be a businessman, right?
[1:00:32] Or if I don't do anything wrong, I should never worry about being sued.
[1:00:35] Yeah.
[1:00:35] And show everyone the addresses of all my assets.
[1:00:37] Yep.
[1:00:38] So unless you're doing something deliberately wrong, you shouldn't be worried about being sued.
[1:00:41] Now.
[1:00:42] If I have a genuine accident and crash my car, I have insurance.
[1:00:46] Unless I'm being an idiot and I was drink driving or doing a burnout or something silly.
[1:00:50] So again, when you go into all these reasons for this trust lending and how it's sold, oh, you should do this.
[1:00:56] It'll protect your assets.
[1:00:57] Load of shit.
[1:00:57] And what do you protect?
[1:00:58] You have insurance in a business.
[1:01:00] You have PI cover if you're a trade.
[1:01:03] All of these things that people say, it's all fucking bullshit.
[1:01:07] It's all shit.
[1:01:09] But it makes people feel smart.
[1:01:10] It means that people get paid to set up trusts and do this.
[1:01:14] There's lots of spruikers out there.
[1:01:16] Yeah, spruiking the shit out of it.
[1:01:17] You can see it.
[1:01:18] Literally, Macquarie Bank just stopped it.
[1:01:21] Three banks just in the last six months have said, we're not doing trust lending anymore.
[1:01:24] And they published, due to a rising trend of buyer's agents without credit tickets advocating for this because they don't have to show serviceability, so to speak.
[1:01:35] So it became a huge buzz gimmick.
[1:01:38] And a lot of these so-called buyer's agents that own $10 or $20, $30 million of property, that's how they got them.
[1:01:45] They can't actually afford to hold them.
[1:01:47] They're treading water.
[1:01:48] Now they've got some equity.
[1:01:49] Good on them.
[1:01:51] To go to the bankers, Graham, and to go build a $100, $200 million property portfolio showing financials, a bit of a difference between me and the buyer's agent.
[1:02:00] Absolutely.
[1:02:01] Yeah?
[1:02:01] Yeah.
[1:02:02] Genuine, verified, tax-paid, contributed to society.
[1:02:07] Yeah, that's good.
[1:02:08] Maybe they're smarter than me.
[1:02:09] Maybe they pay no tax, they don't have financials, and they're fucking broke.
[1:02:12] Yeah.
[1:02:13] Well, who's the better human being?
[1:02:15] Exactly.
[1:02:16] I sleep all right at night.
[1:02:17] Yeah, absolutely.
[1:02:19] So, yeah, look, there's a lot of gimmick.
[1:02:21] Now, there are instances where, you know, a surgeon or a lawyer or like there might be reasons for the asset protection.
[1:02:31] I mean, you see every day right through COVID, builder goes broke, owes $100 million to tradies, wife sells $10 million house in personal name.
[1:02:42] like there's but again even that the wife owns the assets the husband has all the liability so there's there's simple ways to structure things that aren't that complicated that aren't that fucking fancy so I just say to people keep it simple keep it simple your mum and dad you got a job it's very simple you pay tax you want to claw back some of that tax to get an investment then keep it in your personal name yeah that's right I just keep it really simple
[1:03:11] And it means that the bank's checked you.
[1:03:12] They've put a buffer on it.
[1:03:13] You can afford it.
[1:03:14] Yep.
[1:03:15] You know, you're okay.
[1:03:16] It's safe.
[1:03:18] Yeah, just keep it simple.
[1:03:20] Cool.
[1:03:20] Okay.
[1:03:21] Anything that's too fancy, fuck it off.
[1:03:22] Don't make it too complicated.
[1:03:24] Nah.
[1:03:24] No, it's good.
[1:03:25] What else you got?
[1:03:28] I'm just keen, I guess the work you're doing now with America and everything like that, I'll be following that closely and just following, you know, the, I know you guys have gone there and done that.
[1:03:40] Do you find it is just a completely different mentality, like what they do?
[1:03:44] Completely different mentality, yeah.
[1:03:45] Office is done, we're there every, you know, back and forth and...
[1:03:49] team um office is a business just getting set up obviously in its throws um the um the mindset there's different they all do a 15 or 30 year fixed they're manipulated there to pay the minimum repayment and it's smarter to put money into wall street that's their system yeah okay asx here you know wall street there so they're told and i'll give you a really good example um
[1:04:17] And we were in an Uber in Las Vegas of all places.
[1:04:21] And the guy told me he retired three times.
[1:04:23] Now he's back driving Uber.
[1:04:25] Wow.
[1:04:26] And I'm like, and in my head, I wanted to say out loud, you think you might not be doing it too successfully?
[1:04:32] And I'm not picking on you.
[1:04:33] So I said, the polite, I said, oh, so you just, you get bored, mate.
[1:04:36] So you come out every time.
[1:04:37] And he's like, no, I have to work.
[1:04:39] So like he's retired three times, but failed sadly, miserably and had to go back to work.
[1:04:45] Um, and he, all he told me about, cause I love talking to people, right?
[1:04:49] All he told me about for this 40 minute car trip, cause we're going out of town.
[1:04:53] He just kept telling me about the markets.
[1:04:55] Yeah.
[1:04:56] I got in at 12 and it got up to 28, but I should have got out.
[1:05:00] Oh.
[1:05:00] Today it's nine and they're stroking their own ego, right?
[1:05:07] And they're invested in this AI and this battery thing.
[1:05:10] What they're all waiting for is the next Apple or Tesla.
[1:05:15] They're all sucked in to putting their money in the market into this fake machine.
[1:05:21] It's not real.
[1:05:21] Oh, God.
[1:05:22] Do you know what I mean?
[1:05:23] It's not real.
[1:05:23] Yeah, yeah.
[1:05:24] And then I look at it like the CEO of a company could do one thing wrong and the company value could disappear overnight.
[1:05:32] All these different things could happen.
[1:05:33] So they're very big into pay you $2,000 a month.
[1:05:38] Yep.
[1:05:38] Keep it at 3%.
[1:05:39] Yep.
[1:05:40] and put your other four or five grand a month you earn or 10 grand into the market.
[1:05:45] Okay.
[1:05:45] And never take it out.
[1:05:46] Even if you win, they kind of get sucked into the next thing or leave it in.
[1:05:50] That's interesting, isn't it?
[1:05:52] They'll keep the mortgage rolling.
[1:05:54] Forever.
[1:05:55] Just like renting.
[1:05:57] What gains are they making on the market though?
[1:05:58] They wouldn't be making that much percentage on the market.
[1:06:00] Well, they think they are, but then they never sell.
[1:06:02] So they've just constantly got a portfolio.
[1:06:05] So it's an interesting thought process.
[1:06:09] Works for some, doesn't work for most of them.
[1:06:11] I've got some really good presentation stuff I'm working on at the moment that I'm just getting audited both there and here for that to go, well, hey, you put $5,000 into the market.
[1:06:21] But we could do that in a better structured, deductible manner by doing it this way and then going putting 400 into the market.
[1:06:29] You know what I mean?
[1:06:30] So it's just one of those things.
[1:06:33] It's a different mindset.
[1:06:34] Yeah, it is a different mindset.
[1:06:35] I was just looking at the- Mind you, their real estate market, depending where you go, we've been about 6.8% over 40 years growth.
[1:06:43] They're about three or four.
[1:06:44] Okay, so what?
[1:06:45] So they struggle to see real estate as an asset.
[1:06:48] Asset, right.
[1:06:49] But it depends where you go.
[1:06:50] A lot of their areas, they've got plenty of homes, right?
[1:06:54] So their values are suppressed.
[1:06:56] So it's what you buy, where you buy, how you structure it, which is critical over there.
[1:07:01] Yeah.
[1:07:01] Because there are plenty of people I know there, and business associates and friends, that properties have doubled just like Australia.
[1:07:07] So it's the type of asset and the asset.
[1:07:09] Yeah.
[1:07:10] And the other thing, just on a different note, just the rent to buy, the corporates coming in and purchasing and putting people up and you'll be forever, you know, the next generation.
[1:07:20] It's a big fucking problem.
[1:07:21] It's massive.
[1:07:22] It's just like...
[1:07:23] Your daughter, when she goes to buy a home, won't be competing with my children.
[1:07:28] Hmm.
[1:07:29] She'll be competing with BlackRock and Seabus Superfund.
[1:07:34] And love and hate, forget the political.
[1:07:37] Trump's just done a big thing and said, homes are homes.
[1:07:41] No more institutional investors.
[1:07:42] And they're doing some stuff legally over there at the moment around, we've got to stop the institutions buying all the homes.
[1:07:49] That happened with all the fires in Malibu, you know.
[1:07:52] So it's a big concern.
[1:07:54] Everybody should be concerned about it.
[1:07:57] And they should be saying to these younger kids not to be like, go get a Rolex, go get Gucci.
[1:08:01] They should be saying, no, no, it's possible.
[1:08:04] Australia's made it possible with 5%, 2%, no mortgage insurance, all these things.
[1:08:09] It is possible, but you've got to stop eating out for 6 to 12 months.
[1:08:13] You've got to maybe live with your parents for 12 months.
[1:08:16] Things we all did when we all bought our first fucking home.
[1:08:18] That's right.
[1:08:19] It's not rocket science.
[1:08:20] It's simple.
[1:08:22] We're not building a ship to the moon.
[1:08:23] No.
[1:08:23] We're not building a rocket ship.
[1:08:25] They've got to want to do it though, right?
[1:08:26] Very simple.
[1:08:26] You've got to want to do it.
[1:08:27] Yeah.
[1:08:28] But that's education.
[1:08:29] That's talking to the right people.
[1:08:31] You're not sitting there, as you sort of call it, the barbecue mafia and say, oh no, this is how we do it.
[1:08:37] How many properties do you owe?
[1:08:38] Sure.
[1:08:39] I love that point.
[1:08:40] I saw it, yeah.
[1:08:40] How many do you do, actually?
[1:08:42] I see every now and then on social media, oh, cool, so just genuine question.
[1:08:46] Someone goes to me the other day, this is such a fucked up, stupid point of view.
[1:08:50] You're an idiot.
[1:08:51] And I write, that's awesome, man.
[1:08:53] I love learning.
[1:08:54] That stupid, fucked up point of view has got me hundreds and millions of dollars of assets that I share publicly.
[1:08:59] I always love to learn, what's your portfolio size?
[1:09:02] Because I'd love to learn how your authentic take got a bigger portfolio than me.
[1:09:08] No response?
[1:09:09] No, no response.
[1:09:10] Oh.
[1:09:10] It's a dumb point of view.
[1:09:11] And I'm like, again, I appreciate your point of view.
[1:09:15] It's different.
[1:09:17] Tell me what it is and what portfolio size you have.
[1:09:19] Then silence.
[1:09:20] Then silence.
[1:09:21] So I didn't attack them.
[1:09:22] I just literally, in that one, just killed them with facts.
[1:09:23] It's like, show me yours, I'll show you mine.
[1:09:26] They even need 40-year loans that are popping up.
[1:09:28] What are they going to say next?
[1:09:29] Generational death, 40-year loan, 50.
[1:09:31] It's all a nightmare.
[1:09:34] But anyway...
[1:09:35] Been a pleasure, guys.
[1:09:36] Thanks, G. Thank you.
[1:09:37] Thanks for the opportunity.
[1:09:38] You should be really proud of yourselves.
[1:09:39] Thank you.
[1:09:40] Yeah.
[1:09:40] Yeah.
[1:09:40] I look forward to seeing you at the next party in Shindig.
[1:09:44] Yeah.
[1:09:44] We'll have to see.
[1:09:45] We'll have to do it for now.
[1:09:46] Now we're curious now.
[1:09:47] So we'll just wait like everybody else.
[1:09:48] What have they got planned now?
[1:09:50] We missed out on SeaWorld.
[1:09:51] We're like not missing out on Coachella.
[1:09:53] Nah.
[1:09:53] And the next one's even bigger and better.
[1:09:56] So do not miss out.
[1:09:57] All right.
[1:09:57] Okay.
[1:09:58] Well done, guys.
[1:09:58] Thanks so much.
[1:09:59] Thanks, guys.
[1:10:00] You're fucking gone.
[1:10:01] See ya.

Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them.