# Sold Their Home to Build a Property Empire | Amy & Rhett | CHANGING LIVES | Season 3 Ep 44

An episode of [Money Mentor Podcast™](https://invisiblenetwork.ai/podcast/1632604767), 25 Nov 2025, 1 h 13 min.

Audio: https://episode.flightcast.com/aipgdu4hy7gosrwcvu4pp8bg.mp3

In this episode of The Money Mentor, Amy and Rhett share their financial and personal journey into property investment which began after selling their home and deciding to rent. This decision allowed them to pay off personal debts, including a significant mortgage, and invest in multiple properties. The couple also focused on optimizing their superannuation shifting from an industry fund to a self-managed super fund (SMSF), allowing them better control and improved returns. Through these moves, they significantly enhanced their financial portfolio, positioning themselves for long-term success. 👉 Follow the link to get started on your own journey: https://bit.ly/43V2jKN to watch the free webinar

## Transcript

[0:00] 12 months ago we had a $1.1 million mortgage and no investments and about 65k worth of personal debt.
[0:06] And today we have five investments as of the end of today.
[0:12] Only a car loan, but that's okay.
[0:14] No credit cards, no personal debt.
[0:17] Money isn't the root of all evil, the fucking lack of it is.
[0:19] Not money, the lack of understanding money.
[0:22] When I put that into emphasis, when I realized that psychological effect and how it hit our family, I have to be in the fucking way.
[0:31] with Graham home Graham home Graham home you're fucking gone see ya welcome back to another episode of the money mentor and we're continuing on the changing lives financially episodes and we have two beautiful special guests today Amy and Rhett hello how are we good thank you are we nervous a little bit we're excited both as long as a little bit of we doesn't come out we don't get too excited we've got a little bit of we right now
[0:57] So let's start with who you beautiful people are, background, where we're from, when was the first date, was it romantic, did he pay the bill, the whole, who are you?
[1:07] Tell us who you are.
[1:08] Right, we're Amy and Rhett.
[1:11] We met at work six years ago.
[1:14] Oh, naughty.
[1:16] Yeah, yeah.
[1:18] We have a five-year-old son.
[1:20] Yeah, you can do the math on that one.
[1:21] You can do the math on that one, yeah.
[1:23] Yeah.
[1:25] The funny story is that two weeks after we sort of made it official, Amy was seconded into being my manager at work.
[1:33] Oh, shit.
[1:33] So that... Did everyone know what was going on at work?
[1:36] We were trying to keep it pretty quiet, but yeah, we had to talk to HR about it before we told friends and stuff, so...
[1:41] We had to declare it literally two weeks after we started dating, which was full on because, you know, it was so new.
[1:48] And then we went, oh, my gosh, what do we do?
[1:52] So I had to declare it.
[1:53] And then Rhett was moved under another leader from a managerial perspective so I could continue to be his leader for a little while.
[2:01] I think that lasted about four months.
[2:03] So you can't be like rolling around in the office, like slapping each other in the house.
[2:07] Hey, babe.
[2:09] Yeah, luckily it was a pretty friendly relationship at work.
[2:11] It was a pretty casual office.
[2:13] It wasn't too bad.
[2:14] Because that could be real awkward.
[2:17] Yeah, that's right.
[2:17] It was for a little bit.
[2:18] Mind you, we've got a couple of staff here that are married.
[2:20] Luke and Jamaica are married and Chris and Taylor are married.
[2:24] There's a few team members here that are actually married.
[2:28] Yeah, so fair play.
[2:31] on yeah you're not sleeping so you're not gonna sleep well then you but then you became his manager for i was seconded in for four months and um yeah and then i recruited the replacement manager into his role so i could step back into my normal role right um but yeah it was an interesting time there was a lot of you know jokes inside jokes and that kind of stuff but you know we did the right thing
[2:55] As long as you're performing in your role, I don't think that sort of stuff matters, right?
[3:00] If you're a good human and you do your job and you're not coasting or taking the piss, it's kind of... Yeah, there was never any issues.
[3:06] Yeah, it was good.
[3:07] Yeah, so I'm a senior network engineer with a mining company over there.
[3:11] And I'm a project lead for the same mining company.
[3:15] Right, okay.
[3:17] Very interesting.
[3:18] Okay.
[3:19] Do you still get jokes in the office and stuff?
[3:22] Well, I'm in the engineering team now and Rhett's still in IT.
[3:26] Yeah.
[3:27] So different divisions.
[3:29] Different departments now.
[3:30] Good story.
[3:30] When was the first date?
[3:31] Where'd you just go?
[3:34] Well, we kind of, we met at work drinks, didn't we?
[3:36] Yeah.
[3:36] So, yeah, it sort of went from there.
[3:39] I guess the first date was kind of the driving range, wasn't it?
[3:42] Yeah.
[3:43] Yeah.
[3:44] Okay.
[3:45] Do you know how to play golf?
[3:46] Yep.
[3:47] Oh.
[3:47] Yeah, so that's how we bonded, yeah.
[3:48] Okay.
[3:49] Did you know she knew how to play golf?
[3:52] Well, the reason I knew that she knew how to play golf was that, like, during that conversation at the work drink, she'd mentioned that she was playing golf.
[3:58] I was like, oh, I play golf.
[4:00] And then, yeah, so we caught up, you know, the next weekend.
[4:04] But then four months after we started dating, we fell pregnant and had an oops baby.
[4:10] Oh, jeez.
[4:11] Yeah, so it was very quick.
[4:13] Yeah.
[4:14] And then, yeah, so we were kind of, you know, met, moved in together, baby in all the space.
[4:19] Love at first sight.
[4:20] Yeah.
[4:21] And then COVID hit and it was a whirlwind.
[4:24] And then we had a COVID baby.
[4:25] Yeah.
[4:25] Yeah.
[4:27] This is getting interesting.
[4:28] This is cute.
[4:30] It's a very cute couple.
[4:31] It's very, it's a good story.
[4:33] Congratulations.
[4:34] Thank you.
[4:34] Okay.
[4:35] So where are we based?
[4:38] In Western Australia.
[4:39] Perth.
[4:39] Yep.
[4:40] So IT, mining, et cetera.
[4:43] Yep.
[4:43] Okay.
[4:44] Beautiful.
[4:44] Barb.
[4:45] Okay.
[4:45] Yep.
[4:46] Now, pre-Infinity, talk to us, I guess, finally.
[4:50] When did you, who found Infinity and when?
[4:54] I found Infinity online in the middle of 2024.
[4:57] Yep.
[4:58] I saw your ads on socials.
[5:02] Yeah, you can't really escape them.
[5:05] I think everyone's sick of seeing that.
[5:07] If you Googled anything relating to budgets or finance, it will generally come up in your feed.
[5:12] Yeah, which is interesting because we don't do anything on Google Ads at all.
[5:16] I don't like, like, it's just whatever.
[5:19] But meta, like Facebook, Instagram, everywhere.
[5:21] All over it.
[5:22] Everywhere.
[5:23] Yeah.
[5:24] But I think that then pulls into Google and I don't know what it does.
[5:27] It doesn't.
[5:28] It's metaverse or something.
[5:30] Yeah.
[5:30] So social media.
[5:31] Yeah.
[5:31] Yeah, so, but prior to that, our strategy was very much manufacturing equity into homes that we bought.
[5:43] So, like, so backyard blitz, reno flip.
[5:45] Yeah, so we did a lot of renos ourselves.
[5:47] So, in 2021, we bought our first house together for $525,000.
[5:51] Okay.
[5:52] And we did a big reno.
[5:57] We did a lot of it ourselves where it's quite handy.
[6:00] Yep, that's why, yep.
[6:01] So you're handsome and handy.
[6:03] Yeah.
[6:03] You hit the jackpot.
[6:04] Right?
[6:05] And I'm not bad at designing.
[6:08] Yeah, she's the interior designer and I just deliver her vision basically, yeah.
[6:12] And then two years later we sold that for $800,000.
[6:15] Okay.
[6:17] Yep.
[6:17] And then we bought our previous property, which was in Sorrento.
[6:21] Yep.
[6:22] um for 1.28 yep did the same thing again um did a backyard and inside facelift i wouldn't say a full reno or a cosmetic reno yeah and then that got valued at 1.56 okay 18 months later just well you guys valued that out yeah for us well done yep okay
[6:43] So, but it was, it was a hard slog.
[6:47] So renovating took every weekend after hours, um, lots of stress.
[6:52] Um, and we just got really, really tired in the end and the strategy wasn't paying off for us.
[6:59] So for a.
[7:00] You'd almost bought yourself another – you're making good money, but you'd almost bought yourself another job.
[7:05] Yeah.
[7:05] Basically, yeah.
[7:06] Yeah.
[7:06] Yeah.
[7:07] Up until all ours, you know, painting and – Yeah.
[7:09] Yeah.
[7:10] It's like the scene in the ghost movie with the clay and the – Yeah.
[7:15] Yeah.
[7:15] Close enough.
[7:16] Okay.
[7:17] So, you found us on socials mid 2024.
[7:21] Yep.
[7:22] And that was during that reno or post that reno?
[7:27] We'd had a little bit more to go, but yeah, pretty much at the end of the reno.
[7:31] Because we had these grand plans of extending the house and potentially going up.
[7:37] But, you know, that was going to cost us.
[7:39] Probably another million dollars to do that.
[7:43] And, you know, we had a mortgage of 1.1.
[7:46] And we were like, this is just, we've got to do something.
[7:50] It's almost cheaper just to go and buy something for 1.8 or 1.9.
[7:53] Yeah.
[7:54] Exactly.
[7:55] Construction's gone through.
[7:56] It's mental.
[7:56] It's insane now.
[7:57] I mean.
[7:58] $3.50 to lay a brick now in bloody WA.
[8:00] Yeah, 100%.
[8:01] Because there's no brickies.
[8:02] Yeah.
[8:03] And you're double brick.
[8:04] And they'll charge what they want as well.
[8:06] Yeah.
[8:06] Yeah.
[8:06] they can whoever pays they'll take that job so if you don't have the money you can't build 100% and if you do build it's through the roof and you're waiting three years yeah yeah okay so what were you looking for when you found us were you're partway through that reno found us on socials what was going through your mind to go have a look at this
[8:27] I think, like we, obviously working for a mining company, we make a reasonable amount of money.
[8:32] Yeah.
[8:33] And we just found that we weren't really getting anywhere.
[8:35] Okay.
[8:36] Like we were spending all of, all the income was going on either renos or whatever it was.
[8:41] Okay.
[8:42] So we tried a company called My Budget to just basically have a look at what was, where the money was going and how we could try and save some money.
[8:51] Yep.
[8:51] Yep.
[8:52] But then we found that was just too restrictive.
[8:54] Yeah, they take all your money off you.
[8:56] Yeah, basically.
[8:57] Yeah, yeah.
[8:58] You don't have money anymore.
[8:59] And the thing that killed that for me was I was at Bunnings looking for some pool chemicals.
[9:07] And I had to call them up to say, hey, I need some money to go and buy these pool chemicals.
[9:11] My pool's gone a bit green.
[9:12] And they said, oh, no, we can't do that today.
[9:13] You'll have to wait till tomorrow.
[9:14] Yeah.
[9:15] Because it was a Sunday.
[9:15] I was like, no, okay, let's get out of this.
[9:17] Yeah, exactly.
[9:18] Yeah.
[9:19] And it just, we weren't getting, I mean, we were paying our bills, which we were before then, but we weren't making the savings that, you know, they'd sort of promised.
[9:28] Yeah, okay.
[9:29] And we were like, this is shit.
[9:31] Okay.
[9:31] Yep.
[9:32] So who watched the webinar first or together?
[9:34] We watched it together.
[9:35] Together, okay.
[9:36] Any skeptics or both on board?
[9:39] As I was saying to Amy earlier, a good analogy is she's the accelerator, I'm the brake.
[9:46] So Amy's all going, I'm the one that's trying to go, hey, yeah, hang on a minute.
[9:50] Let's think about this.
[9:52] That's a good yin and yang.
[9:53] So that's mine and Beck's relationship.
[9:55] I'm like, I'm like turbocharged.
[9:58] And Beck's like, ooh.
[9:59] Hang on a minute.
[10:00] Put it in a spreadsheet.
[10:01] And I'm like, no, I just did it in my brain.
[10:04] She's like, yeah, there's a lot going on in that brain.
[10:06] Let's put it in a spreadsheet.
[10:07] Yeah, for sure.
[10:10] Okay.
[10:10] So that's a good relationship, right?
[10:12] Like gas pedal clutch, sort of brake accelerator.
[10:16] But did the webinar together.
[10:17] Yes.
[10:18] Okay.
[10:18] And then from there?
[10:19] So I have a friend who also works at the same mining company.
[10:24] She's a client of yours, her and her husband.
[10:26] And I reached out to her.
[10:27] That helps.
[10:28] Yep.
[10:28] So did you see they followed me, commented?
[10:32] How did you know that they were a client?
[10:35] I saw that they followed you.
[10:36] And I did see something on her socials saying that she's going to pay off her mortgage in...
[10:41] within four years.
[10:42] And so I kind of put two and two together after we did the master class, sorry, the webinar.
[10:48] And then I reached out and I said, you know, are you a client?
[10:52] And she just walked us through the process of joining Infinity and her experience and what she and her husband are geared up to do.
[11:03] And I actually reached out to her just before coming to the Goldie.
[11:08] She's almost paid off her mortgage.
[11:11] And she's been with you guys for 18 months.
[11:13] You guys need to get her on.
[11:15] Give her a shout out.
[11:17] We'll get her on.
[11:18] Katie Hazelwood.
[11:19] Okay.
[11:20] And Nathan.
[11:20] I think her husband's.
[11:21] Katie and Nathan.
[11:23] Yep.
[11:23] So, yeah.
[11:24] So, we told them four years.
[11:26] And she's almost paid it off.
[11:28] wild right yeah just by restructuring the things that you know she has and so when we were talking every dollar of purpose interest is calculated they're simple things but none of us had so we're taught some of these mathematical principles but with no life application absolutely so it's we learn compound interest at school we learn we're not we don't there's nothing at 17 years old that makes you want to actually retain that information that's fair so yeah okay so you picked her brain
[11:56] Yeah, and so, you know, but what we liked about the webinar is a few things.
[12:04] Okay.
[12:04] Just the budgeting aspect was interesting.
[12:11] The fact that you kicked off the knobs, that was hilarious.
[12:14] Is this a webinar or the master class?
[12:16] Both.
[12:16] Both, okay.
[12:17] You did it in both?
[12:18] You're like, fuck off.
[12:21] Yeah, that was great.
[12:22] Just because they tried to school you and it was hilarious.
[12:28] Look, I am no better than any other human being on the planet.
[12:31] But for what I do, I'm very good at it.
[12:33] And if you don't want to listen and learn from me,
[12:35] Why the fuck are you talking to me?
[12:37] Yeah.
[12:37] I don't understand.
[12:39] Go and spend time with your family.
[12:40] Go back to your parents' basement.
[12:42] I don't know.
[12:42] Like, whatever the fuck.
[12:43] I don't understand that, you know.
[12:45] I'm over here raising $700,000 for charity at the moment.
[12:48] I give a fuck.
[12:49] Like, I don't get that.
[12:50] So when people do that, it's like...
[12:52] Peace out.
[12:52] Mate, come on.
[12:54] And also, say for example, we get the brokers on.
[12:57] Every month I get a couple of brokers on under the Yahoo or Gmail or whatever.
[13:02] And you find them out through mobile phones or something props up, right?
[13:06] Or they don't put documents in so we go see who they are.
[13:09] And it's very easy to say, it's like, if you think you're better than me, because none of us are better, then you wouldn't be spending money to secretly attend my shit.
[13:18] Yeah.
[13:19] That doesn't make any sense.
[13:21] You would be so busy, you would not be here.
[13:23] 100%.
[13:24] I don't get it.
[13:25] Yeah.
[13:25] All right.
[13:26] And then again, if you're better, you wouldn't be talking about me.
[13:29] Yeah.
[13:29] Because I'm not talking about you.
[13:30] Yeah.
[13:31] Don't even know who you are, mate.
[13:32] It's a funny one.
[13:33] So yeah, it's just like, let's go away.
[13:35] Same as like, if people, you're trying to teach someone something, right?
[13:38] And there's hundreds of people there and someone's vomiting something, like blah, blah, blah.
[13:43] It's like, shut the fuck up.
[13:45] Yeah.
[13:45] And just let people learn.
[13:46] I on the other day put an explanation of something about CGT in the chat bar and I fucking lost it.
[13:51] They're like, that was defined in Google and I fucking stopped the whole event and said, thank you fucking Professor Goo and went off my nose.
[13:58] I said, you're off.
[13:59] Get out.
[14:00] Money back.
[14:00] Because it's,
[14:01] It's really hard.
[14:01] Like it hijacks people's brains.
[14:03] So I'm glad you find it entertaining.
[14:06] It was good.
[14:07] I mean, that was one of the things that we thought was or sort of gave us confidence in you was that you just didn't suffer fools basically.
[14:13] Fuck no.
[14:14] And I don't need the money.
[14:15] It's not like, you know, there might be some businesses out there that get 10 people on a webinar and they're desperate for the sales.
[14:22] When I was live, because at the moment I got feedback everyone wanted it at weird hours.
[14:28] WA is different to here.
[14:29] 7.30 to do a Tuesday night webinar live is 5.30 for you guys.
[14:33] Yeah, that's right.
[14:34] You're still at work or you're in transit, right?
[14:36] So we got massive feedback of, hey, can I just watch this at my leisure?
[14:40] And I went, fuck, you know what?
[14:41] Done.
[14:42] So I just literally, the shortest one I ever did was like 42 minutes.
[14:45] It was just short, sharp, fucking whatever.
[14:48] Some of them have done a 90 minutes.
[14:49] And we just grabbed the shortest one ever and said, you can watch the recording every 15 minutes, but the chat bar is actually live.
[14:57] It updates overnight.
[14:58] So that's like a year's worth of chatbot.
[15:01] It's just mental.
[15:02] It's like da-da-da-da-da.
[15:03] It doesn't mean anything.
[15:04] But yeah, we found people wanted to just watch it at their leisure.
[15:07] Yeah.
[15:07] And that's blown the business up because now you can watch it every 15 minutes.
[15:11] Yeah.
[15:11] There's no time for fools.
[15:13] I love it.
[15:14] I don't desperately need the client because you've got to apply to be a client anyway.
[15:18] So as soon as you fucking interrupt, see you later.
[15:21] And it's just general courtesy.
[15:22] Like, you know, you wouldn't be on the webinar or you wouldn't be on the master class if you knew what you were talking about.
[15:28] So shut up and learn.
[15:31] Insert the Shut Up and Drive song there.
[15:33] Shut up and drive.
[15:34] I love it.
[15:38] I tend to attract a certain type of person as well.
[15:41] Okay.
[15:43] So did that, spoke to...
[15:46] Who did you say?
[15:47] Katie.
[15:48] So I spoke to Katie.
[15:49] So she was able to, hey, this is how far we're into it.
[15:52] This is what we're doing.
[15:52] So that probably gives you some context of what's possible or not possible as well before you dive in.
[15:58] Okay.
[15:59] So when did you do the masterclass then?
[16:02] It was pretty much straight away after that, wasn't it?
[16:04] September.
[16:04] Yeah, yeah.
[16:05] September, okay.
[16:06] Yeah.
[16:06] So the sort of end of 20.
[16:07] So we've, so, and then come on board from that masterclass.
[16:11] Yep.
[16:11] Okay.
[16:11] Yep.
[16:13] So that's September 24th.
[16:14] So we've just had an anniversary, like we're just a year into the journey.
[16:18] A year and a bit, yep.
[16:18] A year and a bit.
[16:20] Okay.
[16:20] And then from there?
[16:22] Yeah, so we attended... No, so Infinity assessed us and...
[16:30] I think we refinanced.
[16:32] Yeah, so we refinanced our mortgage straight away and Infinity assessed our value of our property to 1.56, which we were blown away by because in November 2023, we bought the Sorrento house and not even a year later...
[16:51] About 400 odd grand.
[16:52] Yeah.
[16:52] And so we were like, yes, we can do something.
[16:54] Yeah.
[16:55] And then you assessed our superannuation and being in mining, we had a good amount.
[17:00] Yep.
[17:02] And so, yeah, we refinanced straight away and released 150K in equity for our Sorrento house.
[17:11] Yep.
[17:12] And then you guys asked us to come to REM, was it December?
[17:16] Did you do one in December last year?
[17:17] I think it might've been one in December.
[17:19] I don't know, but I've got a feeling Louis let you come early because if that was September, October, November, December's fucking gutty.
[17:26] Yeah, that's it.
[17:28] I've got him so many times in the podcast in the last few days.
[17:31] He's a good man.
[17:31] I love him to bits, right?
[17:33] People are always like, I'm ready.
[17:34] And he's like.
[17:35] I'll slip you in.
[17:36] I'm like, no, 90 days and you can come.
[17:39] And it's like, I think Louis thinks 90 days is 60 days.
[17:42] He's like, but the loan was done.
[17:45] He's all right.
[17:47] So, yeah, I think we settled when we came, like the loan settled when we came to REM on the day of.
[17:54] And then, you know, suddenly we had 150K of equity loan.
[17:59] You know, everything was gravy really, wasn't it?
[18:03] And...
[18:04] And then we met with Lou.
[18:05] Okay.
[18:06] Yep.
[18:08] And where are we sitting today?
[18:10] So we've released equity from the home.
[18:12] Yep.
[18:13] And that got us a dual lock here in Awkward Grove.
[18:18] Yep.
[18:19] And then, yeah, basically went the self-married super fund path.
[18:24] Yeah, we met Peter.
[18:25] Yeah, of course.
[18:26] Sorry, yeah.
[18:27] One of the financial planners.
[18:27] Yeah, Peter Stem, yeah.
[18:28] Yeah.
[18:29] He's been great.
[18:30] So you've done the whole look at your current funds and super and past performance over the years versus could you do something else?
[18:37] Yep.
[18:37] Were they performing?
[18:39] I mean, they were okay.
[18:40] They were average.
[18:41] Yeah.
[18:42] Yeah.
[18:43] Sitting around the sort of 8% mark on average.
[18:46] Yeah.
[18:48] And that's on the cash balance.
[18:49] There's no leverage.
[18:50] Yeah.
[18:51] So you've now gone into property in super?
[18:53] Correct.
[18:54] Yeah.
[18:54] You're going to borrow leverage.
[18:56] Two in super, yeah.
[18:56] Two?
[18:57] Yeah.
[18:57] Yeah.
[18:58] So one's Elysium Fields.
[18:59] Yeah.
[19:00] And the other one is a townhouse in Mill Park that is tenanted and ready to go.
[19:07] So our super balance now looks pretty nice.
[19:10] Your asset base you're controlling now is much larger.
[19:14] Yep.
[19:14] So if we can pick up the same 8% but on the portfolio balance of the real estate, that's a very different return.
[19:23] Well, when we met with Pete and he was phenomenal, that was one thing that we loved about Infinity is the end-to-end service you get.
[19:34] And what's good too, when you talk about, I love it because they're external.
[19:37] Yeah.
[19:37] They're bringing external.
[19:39] So, hey, we're great at what we do.
[19:41] But we're not.
[19:41] But we're not an expert at everything.
[19:43] So, bringing in the economists, seven or eight different financial planners, seven or eight different lawyers, accountants.
[19:49] That's really the magic.
[19:51] Yes.
[19:51] Because you see your broker or the banker and they give you the loan.
[19:54] Yeah.
[19:54] But we need to talk with an accountant and we all want to work on you to get you these results, right?
[19:59] Yeah.
[20:00] And I mean, there's no way that we could have ever done all that stuff by ourselves.
[20:03] The amount of paperwork that needed to be done, even with all those people helping us, my head was still spinning.
[20:09] Like, which one's this one?
[20:10] Yeah.
[20:11] Yeah.
[20:12] So having that help from both you guys and partners is... Pete modelled our super fund for us.
[20:19] Right.
[20:20] Which prior to meeting you guys, we didn't know...
[20:25] That you could get, well, I mean, we knew that you could get independent advice, but we never went down that path.
[20:30] Right.
[20:31] And then meeting with Pete, he showed us various different scenarios if we sort of tweaked here.
[20:39] He spat it all into the system and modelled that way and that way.
[20:42] And we were just...
[20:43] He had a lot of options.
[20:44] Yeah, you know, the projected potential outcome, huge.
[20:49] We're going to be millionaires.
[20:50] Just 1% difference, but compounding over all those years is very different.
[20:55] We're going to be very comfortable when we retire.
[20:58] So it basically showed us, you know, if you stick with where you are now, you'll get your 8% and thereabouts, and you'll end up with this much when you retire.
[21:04] Yep.
[21:05] If you change into this particular fund that he manages, that's more averaging more like 12% and you'll get this much.
[21:13] And that's not restructuring anything.
[21:15] And if we put a little bit more in, you'll get this much.
[21:17] And then if your properties do this, you'll get.
[21:19] Yeah, spelled it out for us.
[21:21] Pretty much all that consultation with Pete, that external firm.
[21:25] You pretty much set your retirement up now.
[21:26] It's sort of box ticked.
[21:29] I mean, a lot of time, a lot of energy, a lot of information, a process.
[21:34] But you've gone through that now, ticked the box, done.
[21:37] It's just about letting it run its course.
[21:39] I guess monitoring it, right?
[21:41] That's pretty good because you guys are only young.
[21:42] Yeah, 39 and 40.
[21:44] Babies, right?
[21:46] So to think at 39 and 40, you've taken control of that rather than wait 10, 15 years, have a GFC, a war, like something you can go, oh shit, I should look at, oh, my super halved overnight.
[21:58] Yeah.
[21:59] Oh, no, it went up a lot.
[22:00] Oh, then it went down.
[22:00] Like, that's really good that you've taken control of that sort of sub 40.
[22:03] Yep.
[22:04] Yep.
[22:04] Because you've got all that time now to actually monitor it more intensively and make sure that it does what it's been modelled to do.
[22:11] That's good.
[22:11] Yeah, for sure.
[22:12] It must be a good feeling.
[22:13] It is, yeah.
[22:14] We've gone up maybe 20K this year because we buy more stocks and get advice from Pete.
[22:21] Good.
[22:22] So above what we're contributing.
[22:24] Yeah.
[22:25] And then obviously the property goes up as well.
[22:28] So is it, so you're fairly, is it safe to say now with Pete, you're fairly hands on with your super now.
[22:35] So you're like, Hey, we buy this.
[22:37] And so it sounds like you've been a bit more proactive about what most people don't think of until they retire.
[22:42] It's like, Oh, I've got this.
[22:44] You guys sound pretty proactive on it.
[22:46] Yeah, well, I monitored the stocks and then I'll just send Pete an email saying, hey, can we buy into this stock?
[22:53] And he'll go, yep, go for it.
[22:55] Or he might go, do you want to?
[22:57] Yeah, he sort of gives us that flexibility to be able to have that input.
[23:02] But then he will obviously still give us advice on what we think as well.
[23:05] Good.
[23:06] I like it.
[23:08] So two properties in super plus investments in the market.
[23:12] So we've diversified a bit there.
[23:15] What else?
[23:15] Yeah.
[23:15] And then two in our personal name.
[23:17] And then we're meeting with Lou, our wealth strategist, at one o'clock today to go and get our fifth one.
[23:27] Okay.
[23:28] Congratulations.
[23:29] Yeah, huge.
[23:30] What about home?
[23:31] We rent best.
[23:33] Ah, so we sold the home.
[23:34] We did, yep.
[23:36] Let's talk through that process.
[23:37] Good decision, bad decision?
[23:39] I'm still waiting to see what happens there because, yeah, we sold and had a bit of cash left over.
[23:47] But, you know, in the last six months, we got...
[23:51] asked to basically move out of the rental that we moved into because the owners wanted to move back in so we've had a bit of an uplift and just moved into another rental so so you sold that property flipped it no cgt because it was your home you renoed it you took the money off the table no tax great yep and you said before it was going to be like a million bucks or something to build anyway right so it didn't really achieve what you wanted okay so it makes sense draw the equity out of it we do the loan get the equity out
[24:16] And then sold it.
[24:17] So what?
[24:18] I mean, we own a commission, we pay it back, who fucking cares?
[24:20] It doesn't matter to us, what's best for you guys.
[24:22] And that's key as well.
[24:24] So we then sell it, clear some of those debts.
[24:27] We cleared 65K worth of personal debts.
[24:30] We don't have any personal debt.
[24:31] So that must be a bit of a relief.
[24:33] It is, yeah.
[24:34] Cashflow-wise now, it's like, yeah, cool.
[24:36] We could, yeah.
[24:37] Like, you know, 12 months ago we had a $1.1 million mortgage and no investments and about $65K worth of personal debt.
[24:45] And today we have five investments as of the end of today.
[24:50] Only a car loan, but that's okay.
[24:52] And no credit cards, no personal debt.
[24:55] So it feels better.
[24:57] Oh, yeah.
[24:58] Yep.
[24:58] Like you're renting.
[25:00] Renting.
[25:00] Yep.
[25:00] Okay.
[25:01] So, yeah, I mean, the renting...
[25:03] So this year has been a bit tough.
[25:05] So, yeah, we sold in April.
[25:12] And we moved into our rental, our first rental, which was beautiful.
[25:17] And then literally the weekend, the Monday after that, I got the tap on the shoulder and got made redundant from my roll because mining's going through.
[25:27] A hell of a change.
[25:31] And so I was on three months gardening leave and then I managed to come back as a contractor in a different part of the business.
[25:41] And so I was fortunate I could come back to the mining company that I work for.
[25:48] But because I'm a contractor, it changed our borrowing capacity.
[25:53] So no longer a full-time employee.
[25:55] Yes, I got cash out of it, but no longer a full-time employee.
[25:57] So that affected us.
[26:00] And then, as Rhett mentioned, six weeks after we moved into our rental, the owners came back and said, could we move back in?
[26:06] And we're not assholes.
[26:08] We said, yeah, look, we'll work with you.
[26:11] And so sort of, you know, the last month or so, we've...
[26:15] been looking at rental properties and we applied for four and we're talking at rentals between $1,200 and $1,400 a week and there were 50 applicants and we got rejected for two and we were kind of going, on paper, we're pretty good.
[26:35] We've got one dependent, three animals, both have really good jobs, both have an investment portfolio and...
[26:44] We were still being rejected and so we were, well, I was freaking out.
[26:48] I'm a planner.
[26:49] I was reasonably calm because I knew that we had a lease agreement for a year, so we didn't have to get out until the end.
[26:57] You told them, look, we'll try.
[26:58] If we can find something, we'll go.
[27:00] Yeah, that's right.
[27:01] So when we got rejected from the first couple, I was like, it sucks, but it was okay.
[27:07] We've still got another six months here to actually find something decent.
[27:11] And then so we contacted Siobhan or I contacted Siobhan saying, look, we're being rejected.
[27:16] What happens if we can't find anything?
[27:18] You know, could we look at buying again?
[27:20] We'll shelve this rent-vesting idea.
[27:25] And she, you know, she got on it with, you know, the Infinity team and she was so amazing.
[27:32] She probably had whiplash from the amount of, like, changes that...
[27:35] That we were going through.
[27:36] I was going to say, being made redundant, kicked out of your rental.
[27:40] It's all happening here.
[27:41] It's been a year.
[27:44] So anyway, I was sitting at work and I decided to listen to the podcast just while I was working away, one of your podcasts.
[27:53] And then one of the couples who was rent vesting, I can't remember their names, and they had $6 or $7 million worth of property.
[28:01] I was watching that episode and...
[28:05] And it kind of just kicked my ass a little bit going, you know what?
[28:09] You can't change the strategy because you've had a couple of ups and downs.
[28:13] Right.
[28:13] You need to go back to what you were planning.
[28:17] As your word said, let the baker bake.
[28:19] Mm-hmm.
[28:20] And just keep going.
[28:21] The only plans that don't work are the ones you don't see through.
[28:25] Yep.
[28:25] Because that plan has a path.
[28:28] The project, just timeline and benchmarks.
[28:31] And if you give it a little fart and then stop, it's just an expense.
[28:36] You haven't seen it through.
[28:38] And I kind of went home.
[28:40] You had that money.
[28:40] It was that, yeah, it was one of those.
[28:42] You got personally attacked.
[28:43] I was like, oh, if G was here, he'd probably tell me to pull my head in and keep going.
[28:50] And so I went home that day and I said, okay, I'll stop having a freak out and let's just keep going.
[28:57] And then literally the next day we got approved for a rental.
[29:00] Right.
[29:00] And then Infinity came back, I think the same day and said, yeah, you can go and get another investment property.
[29:07] It was like the universe aligned.
[29:09] It was almost like once you went, all right, I'm going to see through the plan.
[29:14] Everything else just fell into place.
[29:15] Fell into place.
[29:16] While you were considering pushing against your own plan, it was friction, it was stress, things weren't aligning.
[29:23] Well, it's just deeply uncomfortable, you know.
[29:25] So losing a job that I was in for – or a company that I was in for seven years, renting, having the instability of renting, then going back as a contractor and contracting isn't guaranteed.
[29:38] But, you know, then I also sort of said, well, neither is being an FTE in this market either.
[29:43] So, you know, what's there to lose?
[29:46] And, you know, Infinity were able to, you know, argue that because of my continued... Continuity, same employer.
[29:53] Same employer.
[29:54] Just a contractual status.
[29:56] Yep.
[29:56] And that's where their expertise comes in of which lenders, how strong we are as a broker to put forward a very strong client that's following a process.
[30:05] All of those things go up to the credit manager for assessment.
[30:08] It's not just sending a loan and looking at the numbers.
[30:11] It's telling the lender a story.
[30:13] Yep, which you did.
[30:14] That's really important.
[30:14] And they went, yep.
[30:17] And so we're going to get another one this afternoon.
[30:19] Here we are again.
[30:20] So that'll be number five.
[30:22] Five.
[30:22] Yeah.
[30:24] September.
[30:25] So you did December.
[30:27] September Masterclass, December REM.
[30:30] Okay, so five in like under a year.
[30:34] Yeah.
[30:35] When you put it like that, yeah.
[30:36] Sounds pretty good.
[30:38] Yep.
[30:38] You know, it's better than one.
[30:40] Absolutely.
[30:42] 21, a lot.
[30:44] Five in 12 months is wild.
[30:46] Yep.
[30:47] Well, we kind of, when we were asked to come on the podcast, we were like a bit of imposter syndrome.
[30:54] Like, do we even deserve to be here?
[30:57] And then we had a chat and it was...
[31:01] Well, yeah, we've got five.
[31:04] We've got no debt.
[31:05] How many people do I know that have got that many investment properties?
[31:08] And we thought about it.
[31:09] Well, nobody that's not in infinity.
[31:11] You also made a big decision to sell your home and rent vest because you had a big debt.
[31:15] Yeah, good incomes, but huge debt, right?
[31:17] Yeah, that's right.
[31:18] And other unsecured debts and stuff.
[31:19] So there's a lot going on for you guys that's worthy of a story.
[31:23] And we had a list of thousands of people to come on the podcast.
[31:27] And the team just go through every month or two and go, okay.
[31:30] and people aren't available, aren't available.
[31:32] Some people haven't even been asked you because it's a huge list there, and we kind of spin a wheel.
[31:36] But we try to get different avatars because we want to hear someone who's six, 12 months into the journey, someone who's three years, and then you listen to say, Doug and Letitia from 2012, 13, they're 13 years into the journey,
[31:49] Craig and Kim are nine years into the journey.
[31:52] So there's such a vast difference between each avatar of a client that you hope that you can connect with different people.
[32:01] So you've done bloody well.
[32:02] You've made some big moves, huge moves.
[32:04] I mean, you look at the percentage of investors that own one property that's usually their old home and they move into the new one.
[32:10] Look at the percentage that own – so the two, one investment, one home –
[32:14] They don't really get past that or three.
[32:16] Yep.
[32:16] To have five, let's do some rough numbers and go, okay, if they're worth a million bucks each, to control $5 million of property.
[32:24] Almost a million bucks each, yeah.
[32:26] At current growth rates.
[32:28] Yeah.
[32:28] Yeah.
[32:29] That's pretty good.
[32:30] Then you go, okay, well, let's say it grows 6.8% a year, 6%, 6.5% to 30.
[32:36] That's 300 grand a year while you sleep.
[32:39] Some areas have gone 9%, 10%, 12% at the moment.
[32:43] Some have gone 3%.
[32:44] Some have gone, like, they're all different, right?
[32:46] But you've got a couple of hundred grand a year in growth at the moment in a growing market.
[32:51] Now...
[32:51] Hey, could all of a sudden, mining, GFC, this, that, fart, shit, the bed, whatever, could do nothing for five years.
[32:58] But you've got to be in it to get the growth when it happens.
[33:01] And you can't save hundreds of thousands of dollars a year net of tax like any investment, whether it's property or stocks.
[33:10] You can't save at that rate.
[33:11] You just can't.
[33:12] So you should be bloody proud of yourselves.
[33:15] Yeah, it's kind of a pinch me.
[33:17] It doesn't really feel real.
[33:19] And because they're sort of building and they're staggered and, you know, we've got one that's tenanted.
[33:24] One's tenanted, some are building.
[33:26] Yeah, two are building at the moment.
[33:28] Some off the plan.
[33:31] Yeah, we've got Elysium Field, so that's building at the moment and the other two in Queensland are building at the moment and then whatever we get this afternoon is just, yeah, it's insane.
[33:43] It's wild.
[33:44] Yeah.
[33:44] Crazy.
[33:45] Crazy.
[33:46] How's it feel?
[33:48] I just, it doesn't feel real at the moment,
[33:54] in the sense that they're there and because you can't touch and feel them, we've got them all over the country.
[34:00] All over Australia, yeah.
[34:01] But they're in our name and it's insane.
[34:05] That good old Ponzi scheme, they're in my name.
[34:08] No, yeah.
[34:10] It's funny because people freak out, like friends and family and stuff like that.
[34:14] I know when I came from debt and shit, even my nan, God bless the cotton socks, she passed now, she's my person, favourite person besides mum.
[34:21] She's like...
[34:23] Oh, just be careful, love.
[34:25] Oh, yeah.
[34:25] Be careful, love.
[34:26] All of us in our life.
[34:27] Try to give her money to help her.
[34:29] Put it off your mortgage.
[34:31] That era, that post-war era.
[34:32] Yeah.
[34:33] And, you know, our parents have...
[34:36] Both of our parents have been...
[34:38] uncomfortable because it's not what they did you know they're the own your house and stay with it forever yeah um and that's their different generation yeah that's their generation um and so and they also are very scared of debt yeah um you know oh my god you've got that much debt well yeah but we've got that much assets too so yeah and you pay that much bloody tax it's okay to have a yeah he was deductible debt yeah different debt yep yeah yeah
[35:06] It's pretty wild.
[35:08] I think it'll start to feel a little bit more real.
[35:10] I think, well, for me at least, once the investment we've got in our own name sort of matures and we can then sell that one and buy two more type thing, I think that'll start to feel a bit more real at that point.
[35:21] I guess that's kind of why I felt a bit of imposter syndrome because I felt like we're not...
[35:26] that far into our journey yet.
[35:28] But now that you recap where we're at, it actually feels pretty good.
[35:33] We've met people before in financial despair.
[35:36] I'm like, hey, you should sell and rent vest.
[35:38] So you're still in the market and they don't.
[35:41] And then they come back a year later and they're financially fucked.
[35:43] And I'm like, it's too late now.
[35:44] I can't help.
[35:45] You know, like you guys have made some sophisticated decisions that have set this up for you.
[35:50] So we just give you the numbers.
[35:51] You've got to pick it.
[35:52] I do want to sell.
[35:52] I don't want to sell.
[35:53] I do want to buy.
[35:54] I don't...
[35:54] And that's the fun part of it.
[35:55] It all comes back to you ultimately to make the decision.
[35:58] It's not a no, you can't have fucking chlorine or whatever you need.
[36:02] Exactly.
[36:02] Your money.
[36:03] You know what I mean?
[36:04] It's like 40 bucks.
[36:04] Yeah.
[36:05] Couldn't have it.
[36:06] You've got to decide whether you see it through or not.
[36:09] That's the key.
[36:12] Tell me, what have you learnt on this journey so far?
[36:16] Because it's been sort of just over a year, building a sizable portfolio.
[36:21] What have you learnt?
[36:21] What's been critical along, what's been hard and what's been critical along the way?
[36:27] If I'm sitting at home now listening to this and go, oh, well, I don't want to budget or I don't want to... Like, say someone, they're stuck in their home, they've outgrown it, they can't rent it, and they think, should we sell?
[36:39] No, but then we're out of the market.
[36:41] I mean, you're not out of the market.
[36:42] You're five times more in the market than you were, right?
[36:45] So what's some of the things you could share with people if they could take some advice from your journey?
[36:50] Yeah, I think for me, because I'm such a cautious person, I think just letting go and letting you guys run your strategy because you guys are the experts.
[37:02] um that's probably been the hardest thing for me i think like the it takes time you've got to build that trust as well yeah that's right in the game i mean that's what those you know master classes and rem are for is to try to build up you know and show us look we actually know what we're talking about yeah yeah yeah okay um
[37:18] I think the budgeting side's been simple.
[37:20] Like, I mean, cause obviously we tried that, but my budget stuff before.
[37:23] You were big vendors before, right?
[37:25] Yeah, I mean, but a lot of that was to try to build equity in the homes anyway.
[37:29] I mean, there was a lot of other spending going on as well, but I think just the establishment of the FFF.
[37:37] And we didn't set it too high or too low.
[37:40] What is your food, fuel and fund?
[37:41] what are we about 600 okay that's pretty pretty copious like you stick to it most times most times yeah yeah okay yep not perfect then you go off like we'll go out for dinner and yeah blow a couple of hundred bucks whatever yeah right yep but most of the time it's pretty comfortable yeah and i think that's the thing people realize it's not like you eat two minute noodles for the rest of your life it's like no just these are our groceries this is a normal week of life yeah you know we shop at aldi and everybody ribs aldi but
[38:10] If we can get 90% of the stuff from Aldi for at least $50 cheaper, it gives us extra to go and have coffees or after work drinks or go out for dinner.
[38:19] You know, food's food.
[38:20] It doesn't matter what the packaging is.
[38:22] Food's food.
[38:25] But I think for me, if I was to sort of say to someone who was coming into Infinity is...
[38:31] our story is our story um you know and you don't have to be a rent vesta to join infinity and you don't have to have um you know you don't have to do rapid repay to join infinity if you wanted to do something slightly different um that's okay but i think you know
[38:52] you're given a wide selection of services.
[38:56] So it's not just the broker and the buyer, you know, the wealth strategist.
[39:01] It's, we've, sorry.
[39:04] So we've been given an accountant who specializes in SMSFs.
[39:11] We've been given the financial strategist who set up our SMSF.
[39:16] our lawyers who help us settle.
[39:19] We had an issue with the council in one of the settlements and they went in and batted for us.
[39:25] You guys find our investment properties that align to our strategy.
[39:29] You wrote our strategy.
[39:31] We said this is what we want and you guys went, okay, cool.
[39:34] This is how we get there.
[39:36] And that's specific to us.
[39:39] We were willing to sell our...
[39:42] principal place of residence because we didn't um because we weren't that was never our forever home it made sense for us but that doesn't mean that everybody else listening has to do that yeah totally everyone's unique run their own way because we weren't emotionally attached to the place we thought you know we've we've had enough of this this place and do we um buy another
[40:04] PPR or do we rentvest and we just decided to take the rentvesting option and use that capital to basically invest further.
[40:13] Yeah, it's a really good point.
[40:14] No one has to sell their home, no one has to sell their car.
[40:17] Everybody's quite unique.
[40:19] I mean, your circumstances are unique to your friends.
[40:22] Everybody's a bit different.
[40:23] Obviously, if everyone can maintain a family home and invest as well, great.
[40:28] But obviously without the family home, you can invest at a much greater level than you could with the family home million dollar debt.
[40:35] And it's a hard, like anyone who's thinking of becoming a rent investor, it is.
[40:41] There is a...
[40:43] I don't know.
[40:44] Stigma.
[40:45] Stigma around not owning your own home.
[40:47] It's very against the Aussie dream.
[40:50] Yeah, whenever we tell people that we're rent investors, they go, ooh, renting.
[40:55] Luke and Jamaica, multi-million dollar portfolio, they were rent investors.
[41:00] They refused to live in the property.
[41:03] Little property, North Brizzy Way, North Lakes, little property, Pimpamare.
[41:07] They just chipped away.
[41:09] Yeah.
[41:10] And like they rented like the street behind where one of their houses were.
[41:15] They're renting one of the homes because it was cheaper than... And all of their debt was tax deductible for years.
[41:21] Now they're in a $4, $5 million, 1,100 square metres on Currumbin River doing a rent like...
[41:27] Beautiful bloody home.
[41:28] Stunning, right?
[41:29] Like everyone's journey is different.
[41:31] But there is a stigma to rent.
[41:33] And I don't think rent vesting applies to everybody.
[41:36] It can be a bit of, I've seen, it's a bit of a gimmick for buyers agents to get people to buy more properties.
[41:41] You've got to be careful.
[41:42] It's got to be a strategy.
[41:44] Like you said, you tell us or you tell any advisor, these are the things I want to achieve.
[41:49] Yep.
[41:49] And this is the timeframe I want to achieve it in.
[41:52] Then you build a strategy.
[41:52] Now for you, rent vesting was one of the strategies.
[41:56] And you've gone, well, shit, if we can achieve that, let's do it.
[41:59] I think that's really key.
[42:00] Like take the stigma away.
[42:02] Whether you're a homeowner and you've got a big debt and that works for you, great.
[42:05] No stigma to it, right?
[42:07] Whether you're a rent vester, no stigma to it.
[42:08] Like different strokes for different folks.
[42:11] 100%.
[42:12] What works for one may not work for the other.
[42:15] Okay.
[42:16] You said budgeting wasn't hard.
[42:17] You said that was pretty easy.
[42:19] I mean, obviously, we thought that it might be like trying to stay to the budget, but I mean, we seem to work pretty well to it.
[42:27] It's not too hard to stick to.
[42:29] And, I mean, aside from having to move house, because that's always an expense, but, you know, as you teach, life is going to throw you expenses as long as you've got your budget to fall back on, you know, who cares.
[42:40] But, you know, in a good month, we're sweeping anywhere from six to eight grand away.
[42:45] wild starts.
[42:48] Yep.
[42:48] And so, you know, we've got a new... We've moved from Ben to Mo now.
[42:57] Yep, new strategist.
[42:58] Yep.
[42:58] So, and Mo sort of said, right, now that you've got your loan in Queensland for the two houses, sweep everything, no longer have an offset account, sweep everything into...
[43:11] Sorry, I keep doing that.
[43:13] sweep everything into um the the mortgage and just reduce that interest and again we didn't know that we could do that yeah well i mean traditionally with an investment loan you won't pay it off yeah yes because it's tax deductible debt and by paying it off you lose that tax deduction forever people would use offset accounts yeah and then want the cash
[43:37] I'm a bit against the grain.
[43:38] We're contrarian to say, hey, don't you want to own the fucking property?
[43:43] Yeah, we can pay interest only and we can not pay it down and have more cash flow, which will probably piss up against the wall.
[43:49] Or we can create $60,000, $70,000, $80,000 a year of equity plus the 5% or 6% we don't pay and don't have to worry about claiming.
[43:58] And every year or two, you've got to deposit for another asset.
[44:01] Yep.
[44:01] So it's different.
[44:02] We are a bit unique in that aspect.
[44:04] But I think if you met the same people as you spending the money.
[44:08] Yep.
[44:09] Right.
[44:09] Or leaving an offset or spending versus you paying down the actual debt and it's done, you'll be twice as wealthy.
[44:16] Because even if the property, your property and their property grow at the same value, you've got the same growth.
[44:21] You also paid it down.
[44:22] Yep.
[44:22] You have a double return.
[44:24] Your return's significantly increased compared to theirs.
[44:27] Yep.
[44:28] And that one's an exciting one.
[44:30] That one's the unicorn, the dual lock.
[44:33] They're pretty cool.
[44:34] Yeah, we can't wait for that one.
[44:36] They're pretty cool.
[44:37] Two incomes from one asset's great.
[44:39] I was doing another podcast just earlier and they bought with us in 2021 or seven something, I think, and they sold in 2024 and they made just under 400 grand.
[44:51] because it was that two income.
[44:53] So when they went to sell it, it was renting for like 1100 a week or something.
[44:58] So most people, you know, you see a lot of properties around that four and a half, 5% yield and other investors bought it off and they go fuck 1100 a week.
[45:05] And they bought for like 730 and sold for 105, like 400 grand.
[45:12] yeah it's nuts yeah um yeah so i think they're cool they can they can work really good cash flow in the interim but still good capital just chunk down the mortgage as well yeah okay anything else you'd say to anyone else out there that like looking for help at all anything else you've learned on is there anything you found hard on the journey
[45:36] There's a lot of paperwork up front.
[45:38] You gotta be prepared to, but if you want something, you have to be organized enough to do it.
[45:43] So setting up an SMSF is,
[45:46] Heaps of money.
[45:46] There's so much paperwork.
[45:48] Compliance, legals.
[45:52] In the start, we just transferred over to a better performing super and then we went, oh, no, let's do SMSF as well.
[45:59] So we had twice as much paperwork.
[46:00] Yeah, so you went from like an X industry fund to Y fund and then went, oh, no, stuff that, let's actually take control.
[46:07] You kind of doubled up along the way.
[46:09] So we don't do that.
[46:11] Well, I think take...
[46:13] Take the knowledge, right, because you've got enough knowledge to go, yeah, we can improve.
[46:17] Then you obviously either process more or got a bit more knowledge to go, no, we just actually want to take complete control.
[46:23] Yeah, I mean, with regards to the things that we should let people know is...
[46:31] you kind of see these things and you go, oh, yeah, but they're probably the select few in that group that, you know, have done really well, but everyone else is just average.
[46:41] I think, you know, joining the Facebook groups, pretty much every week someone announces that they've paid off a mortgage or they've settled on yet another IP or they've cleared their debt or...
[46:54] It's a private group.
[46:55] I don't let anyone see it.
[46:56] Yeah.
[46:57] I mean, we see it as a client.
[46:58] We see it as a client.
[47:00] You seen it yesterday.
[47:01] We finished a podcast and they were in there like, hey, I just thought I'd share our story.
[47:04] We've kept quiet until now.
[47:05] Yeah.
[47:06] Smashed it.
[47:07] Yeah.
[47:07] And you kind of go, wow, you know, it's – we're not just the people, you know, on the top of, you know, the select few clients –
[47:18] It's everyone doing it.
[47:19] Everybody is doing this.
[47:21] Everyone's winning.
[47:22] Yep.
[47:23] And it's not a Ponzi scheme.
[47:24] Did you guys get to the WA community events at all?
[47:27] No, we didn't.
[47:28] We were away at the time, were we?
[47:30] Yeah.
[47:30] That was wild.
[47:31] Yep.
[47:31] So the Perth, WA, they were there for like a week.
[47:35] They went bowling and then they went to the pub and then they went to like, it was wild.
[47:39] It was all week.
[47:39] Yeah.
[47:40] But even that, like the community events and it's, it's super cool for everyone to get together and share their wins.
[47:46] And so the other day, oh, hey, I'm trying to do this.
[47:49] Has anyone had like just helping each other?
[47:51] Yeah.
[47:51] It's really cool.
[47:52] Yeah.
[47:53] It's really cool.
[47:54] So that's why we'll keep, I keep saying, we'll have to put out like 500 or a thousand of these, like super quick.
[48:00] Just be like, okay, here's all our paid actors.
[48:02] Yeah.
[48:03] But you're right, it's not a select few.
[48:05] It's everybody.
[48:06] Everyone's winning.
[48:07] Yep.
[48:08] Which is, I guess, that comes back to the Kmart thing.
[48:11] I blow my mind.
[48:12] Yeah.
[48:12] Everyone's winning.
[48:13] They're doing so well.
[48:14] Everyone was kind enough to give back.
[48:16] So that's like, I'm chuffed this year.
[48:17] It's made more you.
[48:18] When you released it, I think the next morning I had a look and I screenshot it and put it in the chat that overnight it was like 60K.
[48:27] And now you're at 700,000, over 700K.
[48:30] seven something, seven 20 something.
[48:32] Yeah.
[48:33] Yeah.
[48:33] We've gone up again.
[48:38] What do you reckon we'll get to?
[48:41] I reckon a million.
[48:43] No way.
[48:44] You reckon?
[48:45] Yeah.
[48:46] You've got so many clients and you've got so many builders and,
[48:50] I think a lot of the big stuff's come in.
[48:52] Like, Beck and I did 100 personally.
[48:56] Ron did 100.
[48:58] And then a lot of people have done 30s, 50s.
[49:01] Some big ones in there from a lot of, like, businesses.
[49:03] Lawyers, accountants, the financial planners.
[49:06] Pete, I think all those guys put, like, 25, 35.
[49:08] Amazing.
[49:09] Fucking awesome, you know what I mean?
[49:12] And some of these guys are smaller businesses than us.
[49:14] Like, that's huge.
[49:15] I mean, they can claim it on tax.
[49:17] Of course they can.
[49:18] But to have the money to give is super cool.
[49:21] Yeah.
[49:22] But a lot of the big ones I think have come in.
[49:26] Still a lot of time between now and Christmas.
[49:30] Yeah.
[49:31] I love to crack a bill.
[49:32] I'd love to.
[49:33] I hope you do.
[49:33] And then I said, we've got to do 5,000 presents.
[49:37] But that was an easy one because I said, if we get 3,000, 4,000 at the Christmas party, if everyone brought one or two and they came up in the salvos there and they take them in the trucks, that would be easy to be 3,000 to 5,000.
[49:48] But then everyone collectively shopping, sending their receipts in their local Kmarts.
[49:52] So I reckon we might nail like 10,000 presents as well.
[49:54] I hope so.
[49:55] Awesome.
[49:55] Yeah.
[49:55] It's the cool.
[49:56] Oh, fuck.
[49:57] It's made my year.
[49:58] I'm fucking chuffed.
[49:59] I'm so pumped.
[50:00] So we had the news corp the other day doing a thing and I was like, oh, okay.
[50:06] And they're like, can you put the Santa hat on?
[50:07] Oh, here we go.
[50:09] So we try not to do the media, but it's just so cool.
[50:12] I want to talk about it so much because if one person doesn't know us and you want to think of something fucking cool to do this year, take your kids to Kmart and explain what you're doing and let them pick a present for another child.
[50:24] Yeah, we're going to do that.
[50:26] For sure.
[50:27] It's the cool.
[50:28] If they're old enough and they can understand,
[50:30] they'll crack the shit so they don't get to take the present home it's gonna be a tantrum but if they're old enough to understand i think it's super cool yeah super even on christmas day go how do you think that person you know like yeah it's cool yeah it's cool so well and appreciate you guys being part of that as well he's coming back for the chrissey parties
[50:50] yeah it's true i mean it's the time off work i'm already in bloody negative leave so not anymore yeah yeah she can't approve it we might go next year yeah a bit hard this year every year it's got to be bigger and better so i don't know yeah there'll be some cool footage yeah so anyway it's good hey um
[51:10] We're going to do a part two of this because you're seeing Lou today in a second.
[51:14] Yep.
[51:14] And once you see Lou, it looks like you're adding to the portfolio.
[51:17] Yeah.
[51:18] So we're going to have done five in 12 months-ish, 13 months.
[51:23] But then it'd be really good...
[51:25] to get back together in like six to 12 months just to do a version two for everyone who's seen this and thinks like i relate to these guys so see where we are then are we considering going back into an owner arc have we continued to reinvest i think it'd be really valuable to do a part two yeah cool if that's okay for sure and let everyone know where we're at then and okay well this one's got these tenants and this one's doing that and we're a bit more progressed
[51:55] I don't think you want to pick my brain on at all.
[51:58] I guess, um...
[52:02] One question I had was, is there a particular type of property that you would recommend to rent investors?
[52:10] So obviously we've got a mixture of, um, jewel locks.
[52:14] We've got, um, an apartment, a townhouse, all different.
[52:20] Yeah.
[52:20] But is there one that would accelerate your, obviously we're after capital growth.
[52:26] Is there one in particular that you would recommend to rent investors?
[52:30] It depends on what you're trying, but there's no strict answer because the way we work for our property strategies are age, taxable income, borrowing capacity.
[52:40] Although, like, what can you do?
[52:42] Then we have to go into what, and before that, what your goals are.
[52:45] So when we know how much you can borrow based on a projection of, well, you can borrow $5 million if you get $5,000 a week rent.
[52:53] If you spend a million dollars, do you get all those sorts of things, yields, all that?
[52:57] You've got to figure that out first and create a scenario.
[53:00] Then you've got to look at capital versus income.
[53:03] So a dual occupancy, for example, gives a stronger rental yield.
[53:06] You might get sixes, sevens, not fours or threes.
[53:09] You've got to look at, say, if you went and bought a unit in Sydney, you might get a 2% yield.
[53:14] If you had an apartment in Brisbane or Melbourne, you might get a 6% or 7% yield.
[53:18] So they're different, Mark.
[53:20] Whereas if you say, I've got a unit in Sydney, you might get more capital growth.
[53:24] Yeah.
[53:25] so there isn't one set answer for that uh if you were saying to me uh graham i've got the capacity for nine hundred thousand dollars and i just i want as much capital growth as possible as quickly as possible i'd say just go buy an apartment with an ocean view on the gold coast
[53:43] Which is we're hoping that Lou gives us that one.
[53:47] I might have one I prepared earlier for you.
[53:50] So something like that because when you look at Australia, and it could be Sunshine Coast, it could be Northern East, but when you look at South East Queensland specifically is the net number one interstate migration.
[54:02] Most people migrate internationally to Melbourne or Adelaide.
[54:06] They tend to hop their way to Sydney for income, lifestyle, a bit warmer.
[54:10] Everybody ends up staying.
[54:12] When you look at the numbers every year, more people come to Queensland every year.
[54:16] And it's the all year round weather, commutable distances, lifestyle, all that sort of stuff.
[54:23] Weather's a big player.
[54:25] It's a bit interesting here, but on the roads, people take two hours to watch 60 minutes.
[54:29] They slow down to merge.
[54:32] It's a bit funny up here.
[54:33] Like I'm used to driving in Sydney.
[54:35] It's like, oh, you're aggressive.
[54:36] And here you go to get on the motor and everyone slows down to 60.
[54:38] I'm like.
[54:39] fucking speed up get on the motorway you know it's it's interesting you gotta go to coles like you know you're working corporate in sydney and stuff like that you gotta go to coles you finish work late rock up coles is shut at six o'clock i'm like how do i get some fucking groceries you know it's but people are up at 5 a.m here when the sun's up yeah and everyone's out and walking on the beach and having a coffee and all that so it's a very different lifestyle yeah um most like the coast for example brasil most places you want to go you can get to in 20 minutes
[55:07] Yeah.
[55:08] But that will change over time, obviously, sadly.
[55:12] But yeah, look, I think you've got to be strategic.
[55:14] I always say to everyone, try to stay 20, 30, 45 minutes of a major capital CBD.
[55:20] Yeah.
[55:20] So think of your major hubs and those ripple effects as it flows out.
[55:26] And try to find something.
[55:27] But anytime you can find something with ocean, river, you know, anything coastal or water has never performed poorly.
[55:37] Even when you look along like Melbourne, somewhere you go, Docklands has been the arsehole of the earth for years.
[55:42] It's fucked, right?
[55:43] But then I've seen some stuff coming up for millions and millions of dollars now that's selling there as it gets gentrified, redone.
[55:49] And everyone said, and it has.
[55:50] You bought there 10, 20 years ago, you're fucked.
[55:53] Right?
[55:54] However, what's happening now is the last bits of it get developed and the AFL precinct and the this and the big things that are coming in.
[56:01] You look at Hudson Yards, you look at, you know, like you look at all globally anywhere that's been on these industrial grungy shitters.
[56:08] Eventually they come good and everyone wants to live on a river, on an ocean, all that sort of stuff, you know.
[56:14] I think there's places you'll get growth quicker than that.
[56:18] Something like that.
[56:19] You might go, Oh, five years, 10 years.
[56:21] Yeah.
[56:22] 10 years.
[56:22] Hopefully that's all fucking done and popped versus you go gold coast right now.
[56:27] There's not many more places they can plonk.
[56:29] It's only ways up.
[56:30] Yep.
[56:31] And where can they plonk them and can they afford to build them?
[56:34] We'll get him while you still can.
[56:35] Yeah.
[56:36] The average two bedroom unit here is over a million bucks now.
[56:40] Well over a million bucks into the mid ones.
[56:42] Yeah.
[56:42] That's wild.
[56:43] Yeah.
[56:44] I mean, I was buying them for sevens and eights a couple of years ago in COVID.
[56:48] They're now 1.5s, one point higher.
[56:49] It depends.
[56:50] Yeah.
[56:52] So definitely say there isn't one type of dual keys are great, dual occupancy, because you can get one good size parcel of land that's a bit bigger, but you get two income streams.
[57:04] Duplex, like maybe building one line, but not pay just a build to, you know, duplex two, three bedders or something, but not strata it straight away, strata it later to separate them and get uplift.
[57:16] Yeah.
[57:16] Done a bit of that before as well.
[57:18] So I've done a lot of those where I've built them in one line, left it as just one title of the two, three bettors, but then later on done the strip, like to lodge it, to separate and then sold it to somebody and let them do it for the profit.
[57:31] Yep.
[57:31] I get a premium and they get a bit of a premium.
[57:33] Yep.
[57:34] There's so many things to do.
[57:36] There's not sort of one thing for money.
[57:38] Somebody comes to me at 59, well, they just want capital.
[57:43] Somebody comes to me at 60, I'm like, you don't really want to pay stamp duty, this, that, the other, and try to make money in just five years.
[57:50] 30s, 40s, you've got time.
[57:53] A good thing for you guys would be to be quite diverse as far as Melbourne, New South Wales, Queensland, Adelaide, to spread yourself because each market's independent of each other.
[58:07] So when Melbourne's been shitting the bed,
[58:09] Sydney, Brisbane, Adelaide, Perth have gone, Sydney's actually not done too well either.
[58:13] But Brisbane, South East Queensland, Adelaide's popped, Perth's popped.
[58:18] Then see like Perth started to slow down a bit.
[58:21] A lot of supply started hitting the market because they built so much.
[58:24] Then Brisbane's going through the roof.
[58:27] So it's always got to be a bit unique for everyone.
[58:30] So what would be for you would be different to someone sitting next to you.
[58:34] But look, capital growth is king.
[58:37] That's what we want.
[58:38] I used to be a cash flow guy many, many moons ago.
[58:41] All I looked for was duplexes, dual occupancies, high, high yielding properties.
[58:47] Oh, well, I've got income.
[58:48] How good?
[58:49] But then I realized I could make a hundred grand.
[58:52] Making that in a year or two on transactions was better than making a hundred dollars a week.
[58:58] Yeah, that five grand to get to 100 grand was going to take fucking forever.
[59:02] So try to try to stick to that 30, 45 minutes of a commutable distance to a main CBD.
[59:09] And it's the old story, right?
[59:10] Like this big tree change years ago and COVID and before that, and New South Wales did this Evo city thing.
[59:16] They pushed everyone regional.
[59:17] I bought heaps.
[59:18] I got grants like five grand, 10 grand.
[59:20] People got paid 15 grand to move there.
[59:23] And it was like people would move.
[59:26] And then they'd get there and be like, oh, there's no uni.
[59:29] I want to go watch the footy or the soccer or the cricket.
[59:31] Oh, you've got to go back to Sydney to watch the cricket.
[59:34] It's just those things that – different strokes for different folks.
[59:38] But that safe bet is –
[59:41] The more people closer to a city, the more employment, the more lifestyle, arts, culture, food.
[59:47] Obviously, think of a pizza.
[59:48] All those perfect slices.
[59:50] You want all those slices.
[59:52] So if it's mining, you don't want to lose eight slices because that's mining, right?
[59:57] Like a Gladstone years ago, everyone got smashed, right?
[1:00:00] Yeah, high risk stuff, yeah.
[1:00:01] You want mining to be...
[1:00:02] two slices maybe it's a bigger section of the economy but it's not the whole pizza so if it gets hurt your investment's still fairly stable yeah agriculture education tourism so there's sort of no right right how you should just go buy this yeah but definitely i know for me now i'm very focused on riverfront oceanfront or riverview ocean view yeah
[1:00:27] all up the eastern seaboard, but staying within those hubs.
[1:00:32] And so the reason you haven't really branched out into Perth is just that higher risk of dependency on mining.
[1:00:38] I was one of the people that was very advocate, probably the only person that said, I'm not going to Perth at all, and I've stuck to my guns no matter what.
[1:00:44] Everyone I've seen it grown.
[1:00:46] I've lost a lot of money.
[1:00:48] If you go back to Brisbane years ago, Brisbane, i.e.
[1:00:50] Fortitude Valley, Kangaroo Point, they were heavily oversupplied.
[1:00:54] Properties came up everywhere.
[1:00:56] It was cheap to construct.
[1:00:57] That happened in Perth.
[1:00:59] And what I kept saying, and Doc's data is now backed, is that there will be a period where it will just be loaded with cheap units and house and land packages, basic specification, whole investment areas, not slummy, but just the whole thing's investment spec.
[1:01:13] And you'll all compete for rents and you'll all compete when you've got to sell.
[1:01:16] And the quality will be not inferior, but just basic bitch package, right?
[1:01:21] You'll be seeing those now pop up everywhere.
[1:01:23] What we've seen now is that growth is not stopped, but it's slowed.
[1:01:28] Yep.
[1:01:28] And the rentals now in those areas, there's half estates for rent.
[1:01:34] Because they're all, and it's a race to the bottom now, you've got to drop your rent.
[1:01:38] Now, Perth has always been a cyclical market attached to mining.
[1:01:43] LNG, Darwin, all those.
[1:01:45] It's like boom, bust, boom, bust, boom, bust.
[1:01:47] And Perth's actually come from a very low base because it actually had a decline and sat there fucking forever.
[1:01:52] Yeah, tell me about it.
[1:01:53] It's suffered.
[1:01:53] It's suffered.
[1:01:54] I bought a unit in 2014, which was just basically the peak.
[1:02:00] And then it just actually went down in value.
[1:02:02] It sat there.
[1:02:03] Yeah.
[1:02:03] And then until basically COVID when it took off again.
[1:02:06] And that's when we got... You sold it for $5,000 more than you bought it for.
[1:02:09] Basically, yeah.
[1:02:10] Perth had a 10-year plus nothing, right?
[1:02:13] Hiatus.
[1:02:14] Yep.
[1:02:16] And Darwin's been similar in some parts of it.
[1:02:19] And I was just very, very firm on my belief that if I've got...
[1:02:23] So Adelaide, South Australia, Victoria, Canberra, New South Wales, I've got all of that to play with.
[1:02:31] And most of Australia live, reside, earn, work and play there.
[1:02:35] It was safe to just not take that leap.
[1:02:37] And look, to be fair, I'll go to New Zealand before I go to WA.
[1:02:41] Yeah.
[1:02:42] Because it's how long it takes, right?
[1:02:44] Yeah.
[1:02:44] So it is so, so far away that it's almost to us like another country on the eastern seaboard, right?
[1:02:50] She's still part of Australia.
[1:02:52] Oh, no, I love that.
[1:02:53] I put my community events on there.
[1:02:54] It's probably my next office, right?
[1:02:56] Yeah.
[1:02:56] To have that presence there to tick the last box.
[1:02:59] But...
[1:03:00] I was just always worried of oversupply of investment-grade stock, properties in the market, and not enough people to continue to come into Perth to rent them.
[1:03:10] Yep.
[1:03:11] And cyclical.
[1:03:12] You know, iron ore, China does this, this happens, they stockpile.
[1:03:15] And all of a sudden, mass redundancies, all that sort of stuff, people breaking leases.
[1:03:20] You see all the HSV Commodores, the boats and the jet skis on the side of the road like Mackay back in the day and Gladstone.
[1:03:26] I'm like...
[1:03:27] So I just, I prefer, and look, Perth is coming into its own more as a capital city and it's got other employment and other things going for it now.
[1:03:38] I was just always conscious that I might make 20% and see a dip of five or 10.
[1:03:43] So call it net 10 or 15.
[1:03:45] I was confident I could always get 10s and 15s everywhere else without the ups and downs.
[1:03:49] Yeah, yeah.
[1:03:50] It was just, I was very confident in that and the data supported that for me.
[1:03:54] So I'm like, oh, good.
[1:03:55] But I could have went and said to people, hey, you make 20, but when it dips five, you'll fucking call me.
[1:04:00] Yeah, that's it.
[1:04:01] Wait till next year because we've never had two years in a row, right?
[1:04:04] But Perth did that drop and just sat.
[1:04:08] It's having the growth it deserves, it needs the respect it should get.
[1:04:14] It's just how long that continues.
[1:04:15] But anywhere that's affordable does this.
[1:04:19] So I called Adelaide on this before Perth and it's outperformed nearly everywhere.
[1:04:23] Perth then did the, so I just wasn't comfortable what I was seeing in the quality and the bill and how long it took to build and derail.
[1:04:30] I was like, fuck that.
[1:04:31] No way.
[1:04:32] You know, like if you're paying interest during construction and it's taking however long to get the land done and building perils, like nah.
[1:04:37] Yeah, at least two years.
[1:04:39] Yeah, so we did quite a lot in, I call it Radelaide, because it's been rad.
[1:04:43] We did heaps in Radelaide and that's done really, really well.
[1:04:46] Yep.
[1:04:46] Because it was so cheap.
[1:04:47] Like we started down there at four or five hundred.
[1:04:49] Yeah.
[1:04:50] I mean, I was doing stuff in Northern Gold Coast for four or five hundred in 2016, 17 and now it's all a million bucks.
[1:04:56] Yeah.
[1:04:56] It's crazy.
[1:04:58] And Ipswich, we did the same.
[1:04:59] North Brisbane, North Lakes, Cleveland, Capalaba, all around Brisbane, not in it, but all around it.
[1:05:06] Crushed it.
[1:05:07] So long, sorry, long air, but there's no right or wrong.
[1:05:11] It's what are your goals, needs and objectives and when do you want to fulfil it?
[1:05:15] But I say to people, the safe bet, if you can get within a capital city and you can see a river, an ocean, cafe, you know, just the norms, great, happy days.
[1:05:24] So Rhett mentioned before I'm the accelerator and he's the brake.
[1:05:29] And I'm always looking for ways that we can do more.
[1:05:33] So I guess...
[1:05:35] We're not capped out in terms of our borrowing capacity.
[1:05:40] We could probably go another 1.5, apparently.
[1:05:44] But we obviously need a deposit.
[1:05:46] So what do you think the- We need 150 grand.
[1:05:49] Yep.
[1:05:50] So what do you reckon we should be doing?
[1:05:51] We've got 150 grand sitting there.
[1:05:53] We've got 120, but that's going towards our next one.
[1:05:56] Yep.
[1:05:56] Today.
[1:05:58] And then, so if we want to get to another one next year, I don't think we could save 150.
[1:06:03] We could maybe save half of that.
[1:06:05] Yeah, so we want to probably negotiate with somebody for you to give them a 5% deposit.
[1:06:11] Or if you want me to be really creative so you can leave here with a financial boner.
[1:06:16] Yes.
[1:06:16] Okay.
[1:06:18] What we do is we secure you a property today.
[1:06:22] So you know we do a lot of the like, we're off market, exclusive, we have the whole building or the whole estate, right?
[1:06:28] And then we'll sell, get the financial clothes and we'll all buy together.
[1:06:33] What you're probably looking at today is probably what I'm looking at one of the penthouses today.
[1:06:38] So we're going to do that together.
[1:06:40] So because we're going to do it together and everyone pays a 10% deposit, the sellers will usually take like four or five, 5% deposits.
[1:06:50] or I did one for one of our staff who said, hey, I can pay $20,000 or $25,000 today.
[1:06:58] but I can't pay the balance of deposit for 12 months and the building's three years away.
[1:07:04] She's doing it as a home.
[1:07:05] So we made a payment plan.
[1:07:07] So he said, we'll give you $25,000 today, unconditional contract signed.
[1:07:12] You own the property, it's yours.
[1:07:14] They just have to meet installment payments.
[1:07:15] So instead of sweeping and paying off tax deductible debt, we'll just give them five grand every month towards the deposit.
[1:07:22] All right.
[1:07:23] Yeah.
[1:07:23] Now that means you can control that, or use a different number, say it's a $1.5 million property, give them 15 grand.
[1:07:30] You know what I mean?
[1:07:31] Yeah.
[1:07:32] But that means every month, instead of, you go, here's five grand, you're controlling the ownership of today's value of the $1.5 million, but you've just got an instalment plan for your deposit.
[1:07:42] So we need to save 20 grand and come knocking on your door.
[1:07:44] Is that what you're telling us?
[1:07:45] And then we do it again.
[1:07:46] Oh, no, I've got a way to do it anyway today.
[1:07:49] You could do two today.
[1:07:50] Wow.
[1:07:51] Okay That's awesome You're shooting me I'm not shooting me I'll tell you off air Shut the front door Shut Open the front door I've got a deal for you I'll work my Remember That's what I was saying You know how like Powering numbers Because we do everything together Wholesale as a community Like yeah You've got to do 90% 80% of them Are going to be like This is this But there's always Four or five I can pull a couple of strings Here and there
[1:08:20] Yeah.
[1:08:21] My jaw was on the floor.
[1:08:23] I'll tear you off.
[1:08:23] Yeah, yeah, let's talk.
[1:08:26] Oh, wow.
[1:08:27] So you could walk out of here 10 foot tall and bulletproof today.
[1:08:30] Sounds good.
[1:08:31] Hey, if you had have told us this 12 months ago, that we'd be sitting here and, you know, thinking that we'd have five today, we didn't even think we'd have two.
[1:08:42] Yeah.
[1:08:43] We've got five, maybe six.
[1:08:46] You guys are insane.
[1:08:48] I know.
[1:08:48] You're absolutely.
[1:08:49] Medication doesn't work.
[1:08:50] So I've given up.
[1:08:51] It's rubbing off.
[1:08:52] Yeah.
[1:08:53] I love it.
[1:08:55] Let's, we'll wrap it up and talk about that.
[1:08:57] And then we'll do a, we will do another episode, maybe even early in the new year or something.
[1:09:01] We'll talk about what we've,
[1:09:03] been able to achieve from where we are today i think that'd be really valuable for everyone i want to thank you guys for being so open and honest with everybody about the g talked about the rent vesting and having to move out and being it's a very open honest candid conversation so i know that's going to help thousands of people that tune in go fuck i just got my redundant you guys didn't stop that's important right so people are listening in we're going to go through shit but you just got to push on
[1:09:27] Yeah, and we could have let fear overtake our strategy and I was close to it.
[1:09:34] I honestly was because it was deeply uncomfortable.
[1:09:37] The amount of change was deeply uncomfortable.
[1:09:40] But like I said, it was kind of like the universe aligned.
[1:09:43] I watched your podcast and I went, fuck it, grow up.
[1:09:48] Like, put your big girl... That's one of my favourite sayings, by the way, grow up.
[1:09:52] Put your big girl panties on, like, you know...
[1:09:56] get on with it and you did so you guys are amazing thank you so much yeah and I think like obviously it's a big upheaval because with Amy being the breadwinner and her losing her job that was obviously a really big moment this year and we contacted like Siobhan our RM and she was really just supportive and amazing
[1:10:22] I've even sent out a hamper to say, you know, we're with you guys.
[1:10:26] My hamper floral is fucking wild.
[1:10:29] I bet it is, yeah.
[1:10:30] I think it's important, you know, it's important that we don't just write the loan or help with the property.
[1:10:35] Pete does the suit, you know, it's important that we give a shit.
[1:10:38] Exactly.
[1:10:39] And that matters, you know, you want to...
[1:10:42] it's not just that you want to feel valued it's not like i would send you a fucking hamper for the sake of it it's the handwritten note it's the we hear you we know what's going on we'll talk to you about it every week you know like yeah it's that it's that it's that actual we're very you know we're very fucking lucky it wasn't always like this it took years to get these people into this point and for them to fly and
[1:11:05] And they all have an unlimited budget.
[1:11:07] Like to give your team and trust them with an unlimited budget for whether it's flowers from funerals or food for someone who's sick and can't cook, whatever it may be.
[1:11:17] And they just, they're trusted with that.
[1:11:19] And quite often what a client pays us each year, we're in the negative once we've done three or four gestures for them for the year and service them.
[1:11:27] But it's building something fucking phenomenal.
[1:11:30] But then we keep coming back, you know, so a little bit of investment here.
[1:11:34] You're valued.
[1:11:35] And then we keep coming back for more.
[1:11:37] It's okay to have loss leaders in business.
[1:11:39] As long as the business makes a buck at the end of the year and pays everything.
[1:11:42] It's okay to have loss leaders in certain years because people do feel valued.
[1:11:45] They do come back.
[1:11:47] It just ingrains something.
[1:11:48] The community events are fucking more.
[1:11:50] We're sending people to Perth and Tassie and here and the bus up and down.
[1:11:53] We're fucking booking out.
[1:11:54] I don't even know half of it anymore because I can't get to them.
[1:11:57] It's crazy, right?
[1:11:59] But to see all the photos and video kids with the face painting and the jumping car and all that.
[1:12:03] People meeting.
[1:12:04] And people are making cool lifelong friends from the community days then.
[1:12:08] It's fucking cool.
[1:12:09] I love my job.
[1:12:10] You're doing well.
[1:12:11] You've built an empire.
[1:12:14] It's phenomenal.
[1:12:14] Thank you, guys.
[1:12:15] So we're going to get you down to see Lou, and I'll ring him and tell him what I think we're going to do.
[1:12:21] That's based on you saying you reckon you've got more serviceability.
[1:12:24] Well, that's what Mo said.
[1:12:27] He said, yeah, you just need more deposits.
[1:12:30] So I can fix deposit.
[1:12:34] I can't fix serviceability.
[1:12:35] That's a go earn more.
[1:12:36] You know what I mean?
[1:12:37] We're there.
[1:12:38] Deposit I can fix.
[1:12:39] Yep.
[1:12:39] Cool.
[1:12:40] Sounds good.
[1:12:42] Done.
[1:12:43] You're amazing.
[1:12:43] Thank you.
[1:12:44] All right.
[1:12:44] Well done, guys.
[1:12:45] Thank you.
[1:12:45] Thank you for sharing and congrats and we'll do a part two shortly.
[1:12:49] Sounds great.
[1:12:49] Thanks, guys.
[1:12:50] Thank you.
[1:12:50] Thank you.
[1:12:51] You're fucking gone.
[1:12:52] See ya.

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