# Wiped out $1M in loans in months | Jasmine & Daniel | CHANGING LIVES | Season 3 Ep 33

An episode of [Money Mentor Podcast™](https://invisiblenetwork.ai/podcast/1632604767), 21 Oct 2025, 54 min.

Audio: https://episode.flightcast.com/s0rqmwwrn7uya1zuj2zvi8jr.mp3

In this episode of The Money Mentor: Changing Lives Financially, we sit down with Jas and Dan, who joined the Infinity family in May 2024 after another company said they couldn’t be helped. Starting with over $1 million in mortgages, they felt comfortable on paper but lacked a plan, a budget, and real financial direction. Fast-forward just a few months and their home loan is completely paid off and they’ve built a portfolio of five investment properties, all while setting a clear family budget of $600 per week. At their very first Masterclass, Jas and Dan embraced the Infinity strategy and now their kids are following the same mindset, proving that smart planning creates generational change. This episode dives into: • How they went from “fine” to fully debt-free • The turning point that made them trust the Infinity process • Living on a solid budget • Teaching their children the habits of financial freedom • What’s next for their expanding investment portfolio Watch the free webinar to see how you can start your own Infinity journey: https://bit.ly/43V2jKN

## Transcript

[0:00] I don't think a lot of people realise how little they're paying off their mortgage just with their everyday payments.
[0:06] Yeah.
[0:06] We're just making the normal payment.
[0:07] So that process in the masterclass of what you're paying, your interest each day.
[0:12] Yes.
[0:12] I don't think anyone knows how much interest they get charged each day or calculated.
[0:17] Yeah.
[0:17] That's a real scary one.
[0:18] Yeah.
[0:18] But then you work out in that worksheet we do of, hey, you put 30, 40 grand at your loan.
[0:22] Yeah.
[0:23] You only paid off nine.
[0:24] Yeah.
[0:25] Or 11.
[0:25] Yeah.
[0:26] That's pretty wild.
[0:28] That was terrifying.
[0:28] People freak when they do that.
[0:29] And then when you do the calculator, which shows how quickly, you know, if you put your – as I said, no one's asking you to cut, you know, live on two-minute noodles.
[0:38] No.
[0:38] It's, you know, put in the numbers that you've generated as what you think.
[0:41] And we put in the 875.
[0:42] Yeah.
[0:43] And it still took like 20-odd years off our loan.
[0:46] Money is the root of all evil, the fucking lack of it is.
[0:48] It's not money, the lack of understanding money.
[0:51] When I put that into emphasis, when I realized that psychological effect and how it hit our family, I FDB in the fucking way.
[0:58] You are now watching the Money Mentor Podcast with Graham Holm.
[1:02] Graham Holm.
[1:03] Graham Holm.
[1:03] Graham Holm.
[1:06] You're fucking gone.
[1:08] Welcome back to another episode of The Money Mentor, and we're doing the continuation of the Changing Lives Financially segment.
[1:16] Now, I know our next special guests are a little bit upset because the guests in the last few days stole their amazing questions, but we're not going to let that ruin the session.
[1:24] Hello, Jaz and Dan.
[1:25] How are we?
[1:26] We're all good.
[1:27] How are we?
[1:27] Good.
[1:28] You look pretty relaxed, actually.
[1:29] Yeah, no, I'm good.
[1:30] Not nervous at all?
[1:31] A little bit.
[1:32] A little bit, yeah.
[1:33] A little bit shrinked, Apaka?
[1:34] Yeah.
[1:34] Yeah.
[1:34] The couch is comfy.
[1:36] It's pretty comfy.
[1:37] It's a bit long, but you kind of like sink into it.
[1:41] But if I give people one of these and they start spinning around like me, it's a bit weird.
[1:44] Anyway, tell us a little bit of background for people listening in at home.
[1:49] Who are you guys?
[1:50] Give us a bit of background.
[1:51] Who are you?
[1:52] Here we go, Jaz.
[1:53] We're Jaz and Dan.
[1:56] We're in our mid to late 40s.
[1:58] I'm 45.
[1:59] Dan's approaching 50.
[2:01] We've raised two incredible sons who are now in their mid-20s and we're now living our best life thanks to infinity.
[2:10] Oh, geez, that's a pretty good summary.
[2:12] Okay.
[2:13] Okay.
[2:13] If I missed anything.
[2:15] No, I think we're pretty good.
[2:15] Okay, good.
[2:17] And tell us pre-Infinity, what was going on financially?
[2:21] Did we buy homes, investments?
[2:23] Did we use credit cards?
[2:25] Like what was happening pre-Infinity?
[2:27] We didn't have any credit cards.
[2:28] We had a couple of car loans as per normal and just the usual.
[2:33] But we were going okay and we were both earning decent money.
[2:37] So I think that sort of war papered over the cracks a bit, you know, as far as –
[2:42] We were doing things wrong, but we were just spending all the money, but you didn't really notice.
[2:45] We weren't exactly paycheck to paycheck, that sort of stuff.
[2:48] So we were going okay.
[2:49] There was a few cracks.
[2:49] Yeah.
[2:50] Some wallpaper.
[2:51] We're doing things.
[2:52] We all think we're going okay, right, is probably the problem.
[2:54] That's it.
[2:55] There was never any shortage of money, but it was, you know, as I said, we just weren't making money.
[3:00] Any sort of progress.
[3:01] Did you have a budget?
[3:03] Did you have a structure?
[3:04] Who managed the money?
[3:05] Was it together?
[3:06] No, really.
[3:07] We just played by ear.
[3:09] No one really managed it.
[3:12] Yeah, we bought our first home in 2004.
[3:16] Yep.
[3:17] We moved in.
[3:18] We had the kids.
[3:20] We just lived our life, kids' activities on the weekends, shopping, shopping.
[3:26] So if you needed something, you just buy it.
[3:27] It wasn't tight on cash flow.
[3:29] It wasn't gazoons at all, but you were comfortable.
[3:31] That's it.
[3:32] Yeah.
[3:32] Okay.
[3:32] But that's it.
[3:33] At the end of the year, you had the same amount of money in the bank as you did.
[3:36] Previous year.
[3:37] So there was no progress.
[3:38] Okay.
[3:39] And we had the same amount of money at the end of one year as we did the next year.
[3:42] We were just making no progress at all.
[3:44] Right.
[3:45] Jazz got given a copy of The Barefoot Investor.
[3:50] which made us talk about money, made us look at where our money was going.
[3:54] Anything that makes you talk about it, look for improvement, look for growth, get some happy days, whether it's the best version of that or not, well, whatever.
[4:03] But, hey, if it helps, it helps.
[4:04] That's it.
[4:04] So we started then looking where all our money was going, how much money was coming in, and worse, how much money was going out.
[4:11] And it really was a kick in the pants where we went and took all our head in.
[4:15] And, yeah, after about a year of that, we had plenty of money.
[4:20] And we thought we can – and the kids then at that point had moved out.
[4:23] Yeah.
[4:23] We thought we can downsize here and move into the city.
[4:26] We were both traveling for work.
[4:29] You know, it was a couple of hours each way in the car every day.
[4:31] Jazz was an hour on the train.
[4:32] Yeah.
[4:33] We thought we'll move into the city.
[4:34] Fair enough.
[4:35] Yeah.
[4:35] Keep the kids out.
[4:36] They're gone.
[4:37] Oh, the kids were gone, yeah.
[4:38] So the kids were gone.
[4:39] So we sold up pre-COVID and moved into an apartment in the Docklands.
[4:44] Okay.
[4:44] And –
[4:46] Yeah, that was it.
[4:47] Okay.
[4:47] That was it.
[4:48] Live the city life.
[4:49] Yeah.
[4:51] We had a great broker.
[4:53] Well, we thought he was great.
[4:56] I thought I was going to say, oh, good.
[4:57] And you're like, oh, we thought so.
[4:59] Oh, no, not good.
[5:01] No.
[5:01] So we rang him up, brought him out, and we ran through what we had done over that year and what our goal was.
[5:09] Yep.
[5:10] And he said, fantastic.
[5:12] So he refinanced our initial principal place of residence.
[5:18] Yep.
[5:20] And borrowed extra.
[5:22] To buy the apartment in the city.
[5:23] Yep.
[5:24] And also renovate that house.
[5:26] Right.
[5:27] So that it could be tenanted because we kept it as a first investment.
[5:31] You kept your old home.
[5:33] You didn't sell it capital gains tax free.
[5:35] No.
[5:36] Did you ask for any advice on that?
[5:38] Yes.
[5:39] Whether you should sell it or keep it?
[5:40] Yes.
[5:41] Wouldn't the advice, shouldn't the advice be sell that dog, take all the cash and buy the unit with as small as debt as possible?
[5:51] Yes.
[5:52] Or did the broker want two loans and lend you more to renovate and get two commissions instead of one and do the right thing by you?
[5:59] You would have thought so.
[6:01] His advice was actually to borrow more, restructure that loan.
[6:05] Yep.
[6:06] So I think we purchased it for $270,000 in 2004.
[6:09] In 2019 we refinanced and it was around $450,000.
[6:11] Fucking hell.
[6:19] for an additional 30-year period, so we were looking at 70 to pay it off, his advice was to use that money to renovate it so that we could get tenants in and then additional funds to put onto our apartment in the city.
[6:39] So get as much commission and lend as much money as possible, get as much commission as possible.
[6:44] Yeah.
[6:44] Okay.
[6:45] Okay.
[6:48] Makes sense for a broker who's broke, who doesn't understand how the world works.
[6:53] Okay.
[6:54] And so how long did you keep that structure in place for?
[7:00] 2019 we bought Docklands and 2024 was when we joined Infinity.
[7:06] Okay.
[7:07] Yeah.
[7:07] And we joined the master class and found out that that was the worst thing you could do, which was keeping your old principal place of residence.
[7:15] Did you sell it within the six-year period in the six-year rule?
[7:18] So we've now sold it.
[7:20] Yes.
[7:20] I don't want to jump too far ahead.
[7:22] So day one.
[7:22] Do we have any other investments in there before you came to Infinity?
[7:25] Yes.
[7:26] Yeah, so in 2022 we purchased a unit in Queensland for our youngest son to rent.
[7:33] Okay.
[7:33] Very lovely parents.
[7:34] There was a little bit of a back story behind that where the landlord was actually selling it.
[7:39] Okay.
[7:41] And at the time pre the rates going up, it looked to be a good investment for us.
[7:46] Okay.
[7:48] So we purchased it and kept him in there as a tenant for a little bit longer.
[7:51] He was already renting it and then they put it on the marker.
[7:53] Yeah.
[7:54] Okay.
[7:54] Okay.
[7:55] So he had a home, bought a unit in Docklands in the city, moved into the city and downsized, borrowed more money for that, kept the home, borrowed money, renovated the home, rented that out to someone.
[8:08] Did you get a good rent return?
[8:09] Yeah.
[8:09] Not a great rent.
[8:10] No.
[8:10] We kept it low because he was a friend.
[8:15] Moving right along.
[8:16] Yeah.
[8:17] And then also bought the property your son was renting in Queensland because the owner was selling that, so he wanted continuity there.
[8:25] So now we've got a friend renting our old home.
[8:27] We've got a son renting an investment property that they were already renting, but you decided to buy it for them.
[8:32] Yeah.
[8:32] And you've gone and bought in the city, so you've got debt across all three assets now.
[8:37] Yeah.
[8:37] Yep.
[8:38] And renting two of them cheaply.
[8:40] Yes.
[8:41] Well, the one in Queensland wasn't, it was just the same rent.
[8:44] It was the same rent.
[8:45] Yeah, we didn't give him a discount.
[8:46] And it was a good deal at the time.
[8:48] Yeah.
[8:48] But as I said, once the rates went up.
[8:50] So you gave your friend a discount, but your son had to pay full rent.
[8:54] You freaking assholes.
[8:55] Are you listening?
[8:56] He was on check rent anyway.
[8:56] He was.
[8:57] He was.
[8:57] He was.
[8:58] He was.
[8:58] But yeah, so.
[9:00] So you had about a million bucks of debt across all of those assets.
[9:04] We did.
[9:04] This is all pre-Infinity.
[9:06] It was.
[9:06] How and when did you find us?
[9:09] So when we were living, we had moved to the apartment, all I kept thinking was we've got these three mortgages and we're not going to pay them off until we're at least in 70s, late 60s, early 70s.
[9:26] So I started looking for information around how can we get help or learn about financial management so that we can pay these loans off quicker.
[9:40] one company contacted me after an inquiry and we went through our income, what our assets were, and they actually said, we can't help you.
[9:50] Because they couldn't sell you something new.
[9:53] Yeah.
[9:53] Correct.
[9:54] Yeah, they didn't have any brains.
[9:55] They were just trying to sell you something.
[9:57] Yeah, that's right.
[9:58] And then your Facebook post started coming into my thread.
[10:03] Because you'd started searching finance and the algorithm got you good.
[10:07] Yeah, correct.
[10:08] And then you'll never escape me.
[10:09] That's right.
[10:10] That's right.
[10:11] And I'm so glad we found you, I have to say.
[10:14] But I watched the webinar first.
[10:16] Okay.
[10:18] and my mind was blown and I'm thinking, where has this guy been all my life?
[10:26] So, yeah, so then I had to sort of drum up the courage to show Dan because your webinars, it's fairly raw, you know, and you either grab people in those first five to ten minutes or you don't.
[10:40] Yeah.
[10:41] I was hooked.
[10:42] Right.
[10:43] And I watched it and it wasn't so much what you said, it's what you showed.
[10:48] Okay.
[10:49] It was the information that you showed up on the screen.
[10:51] The offsets, the comparison rates, all the crap.
[10:56] Yeah, correct.
[10:57] Have you seen the news today or last night about offset accounts?
[11:00] Yeah.
[11:01] Nasek's doing a big investigation into all of the banks in Australia for ripping customers off and not linking offset accounts.
[11:09] What have I been saying for years?
[11:12] ANZ got caught doing it for over 20 years and overcharging fees for $200 million.
[11:18] All these brokers grabbed my content.
[11:20] Oh, this fucking guy.
[11:22] Offset, offset, offset.
[11:23] No, you've been fucking flogging products that don't work to people.
[11:26] Look what's in the news today.
[11:28] I'm going to have a fucking field day with it.
[11:30] But you're right.
[11:32] I grabbed very simple information, factual information.
[11:36] Some of it's complex.
[11:38] Bring it down to a simple level and hope everyone can understand it.
[11:41] And if you already know it, you're a genius.
[11:43] Yeah.
[11:43] Or you don't and go, shit, I didn't know that.
[11:45] Yeah.
[11:46] I didn't know that.
[11:47] Great.
[11:48] I can help you.
[11:48] Yeah.
[11:50] So I told Dan about it and I said, look, I've come across this guy and I'm the person in our relationship that goes, I've just had an idea or I've just thought of something.
[12:01] And Dan, Dan, like Beck on me and pulls the handbrake and goes, fucking woo up a minute, sweetheart.
[12:06] That's what Beck's like, oh, here we go.
[12:08] Yeah, pretty much.
[12:09] Pretty much.
[12:11] And I said, look, they've got a free webinar.
[12:13] I want to sit down and watch it with you.
[12:15] So we did.
[12:15] But you'd already watched it on your own.
[12:17] I had.
[12:17] Okay.
[12:18] So we sat down and I registered again and we watched the free webinar and 10 minutes in Dan was sitting on the edge of the couch just going, where is he getting this information from?
[12:34] By the end of it Dan said, let's do this masterclass.
[12:37] We've got to get in.
[12:38] Usually there's a sceptic.
[12:39] Yeah.
[12:40] Usually someone's, I'm in.
[12:41] And the other person's like, ah, this fucking fat, listen to this bloke, blah, blah, blah, blah, blah.
[12:46] But the message that you're putting out there, the facts, the maths, just doesn't lie.
[12:53] Yeah.
[12:53] People can, but the numbers don't.
[12:55] That's it.
[12:55] Exactly right.
[12:55] So, yeah, it doesn't matter who's telling you.
[12:57] The maths you're putting out, well, we have been doing this wrong.
[13:02] We thought we were doing the right thing and we were doing it ass about.
[13:06] Okay.
[13:07] So another group of so-called experts, we can't help because we can't flog you anything because you've already got a couple of properties, no more capacity.
[13:15] Okay.
[13:16] Webinar pops up, love it, do it together, love it, makes sense, good information or valuable at least, do Masterclass.
[13:24] Okay.
[13:25] So when was that?
[13:26] When did we do Masterclass?
[13:27] Early 24?
[13:27] Yeah, May 24.
[13:29] Mid 24, yeah.
[13:30] Okay.
[13:31] Yep.
[13:32] And how was Masterclass?
[13:34] Fantastic.
[13:35] Incredible.
[13:36] Yeah.
[13:36] Okay.
[13:36] Absolutely incredible.
[13:38] And it was just more, just reinforced what we learnt from the webinar.
[13:41] Was it one where I didn't yell at anyone or I yelled at everyone and got cranky?
[13:45] Oh, no.
[13:46] It was one where you went really, really late to Saturday night.
[13:49] Oh, it's like 11 or 12.
[13:50] You had to take off on a plane on Sunday early.
[13:53] Okay.
[13:54] Yeah, but we got to you.
[13:55] We finally got our question, our whatever you want to call it.
[14:00] When I stay back in Wall Street to do all the coaching.
[14:02] Yes.
[14:03] Really late Saturday night.
[14:05] You were nearly asleep.
[14:06] Yeah.
[14:06] And basically it was just the information we knew anyway, you know, sell that, sell that.
[14:11] Yep.
[14:11] Yep.
[14:12] So you can be helped.
[14:13] Oh, yeah.
[14:14] Yeah.
[14:15] Let's sell that.
[14:15] Let's sell that.
[14:16] Let's clear some debt and off we go and start again.
[14:19] Yeah.
[14:19] Okay.
[14:20] And then what?
[14:23] We started looking for real estate agents that Saturday.
[14:26] Yeah.
[14:26] Okay.
[14:27] Yeah.
[14:27] So I'm on my phone.
[14:29] I was on my phone Googling real estate agents.
[14:30] So you're like, right, we're going to sell it, sell that.
[14:32] No, they're gone.
[14:33] That's it.
[14:34] Yeah.
[14:34] Okay.
[14:34] Yeah.
[14:35] And what was the mortgage when we started?
[14:37] Yeah.
[14:38] For all three?
[14:39] Yeah.
[14:39] A million.
[14:39] It was about a million bucks, right?
[14:40] Yeah, it was over a million, yeah.
[14:42] And then what was the home loan amount?
[14:44] How much was that?
[14:45] $500.
[14:47] And it was sort of blended with the purchase and some against the old home.
[14:51] Was it kind of all over the place?
[14:52] Yeah, it was $500 on our home.
[14:54] It was $400 on previous home.
[14:56] Yeah.
[14:57] And $100 on the one in Queensland.
[14:58] Gotcha.
[14:59] Okay.
[15:00] And how much is the home loan today?
[15:01] Zero.
[15:02] Zero.
[15:02] So?
[15:02] Yeah.
[15:04] Zero.
[15:04] We don't have one.
[15:06] So May 2024, after you've been told by somebody else that went through all of your finances, they couldn't help you.
[15:14] We do a free webinar.
[15:15] We do a two-day Zoom class.
[15:18] We invest some money.
[15:19] We get some proper advice.
[15:21] We sell the other two properties, and we have nothing owing on our home.
[15:25] Yep.
[15:29] It's crazy, isn't it?
[15:30] Not really because, I mean, for me, I don't think it's that fucking hard but clearly there's another business out there that isn't very successful or very fucking good at what they do that was negligent in your assessment to go, well, I can't.
[15:42] So there was a salesperson.
[15:44] They couldn't sell something.
[15:46] Now, look, we actually sold some shit.
[15:48] We created the ability for you to do further business with us at your benefit.
[15:54] Yeah.
[15:54] It's a very interesting business model.
[15:56] I don't want to write the loan for a million dollars.
[15:58] I want you to fuck them all off.
[15:59] I don't want to write any loan.
[16:01] But then when you own your own home, okay, we can use the equity and we can help you invest with that.
[16:06] Then we'll be remunerated after we give good advice.
[16:10] Does it feel crazy, right?
[16:11] Yeah.
[16:12] It does when you've thought your whole life has gone down one thought process and everyone you've encountered has thought the same way.
[16:20] And then you come across someone who's a contrarian and is just going down a whole other direction.
[16:25] And, you know, at some point you have to think, is this, you know, if it's too good to be true, a lot of times it isn't.
[16:31] And as I said, the math doesn't lie.
[16:35] So had you ever thought, oh, we should sell the old home, we should sell the unit, kick the sun out of the rental,
[16:42] kick the friend out of you.
[16:43] Did you ever think that?
[16:44] No, that was going to be, you know, keep it until we retire.
[16:47] So the strategy was just keep those forever.
[16:50] That was retirement.
[16:51] Yep.
[16:51] Wait for them to go up.
[16:54] It's a strategy.
[16:55] Yeah.
[16:55] Okay.
[16:58] And today, so today we sold the investment.
[17:01] We sold the investment in Queensland.
[17:02] We sold the investment in Victoria.
[17:04] We own our home in Victoria with the apartment we've downsized into.
[17:08] And we've,
[17:10] Any other investments now?
[17:11] Have you replaced them?
[17:12] We've got five.
[17:13] We've got five.
[17:14] Five investment properties.
[17:16] So May 2024, just to make sure we're really clear for everyone listening at home, May 2024, million dollars of debt, cross-stray properties, then this year, August, what are we, August?
[17:27] Is it August?
[17:28] Yep.
[17:29] August this year, 25, so a year and a bit later, no debt on the home, got rid of the two investments, and now you have five new investments.
[17:38] Yes.
[17:38] Okay.
[17:39] Jeez.
[17:41] I know.
[17:41] You really couldn't do anything when you spoke to that other company, could you?
[17:45] Has it sunk in yet?
[17:49] It has now.
[17:50] Okay.
[17:50] It has now that the first six months was really when all of the activity happened.
[17:56] Yep.
[17:56] Selling and buying and paperwork.
[17:58] It was mad for that person.
[17:59] Yeah, correct.
[18:00] Okay.
[18:01] And now we just have our regular catch-ups with our Infinity team.
[18:05] Yep.
[18:06] who continuously check in.
[18:08] It's not like these other companies where once they've done the work, they say, see you later.
[18:14] Transact.
[18:14] You transact.
[18:15] Yeah.
[18:15] So you do the loan or you do the house and it's goodbye.
[18:18] Yeah.
[18:19] Christmas card on email.
[18:20] Yeah, that's right.
[18:21] No Christmas party.
[18:23] No, no.
[18:24] Or what is it?
[18:24] The lotto ticket, the scratchy.
[18:25] Yeah, $2 scratchy.
[18:27] Nothing, nothing, nothing.
[18:29] Yeah, so we're just watching everything play out now and we're just waiting for our next steps really.
[18:37] Okay.
[18:38] Yeah.
[18:39] So five new investment properties.
[18:42] Five.
[18:43] Wow.
[18:44] Yep.
[18:45] What's the, let's go back a step.
[18:49] Are you, you've got no home loan.
[18:52] So are you using a budget?
[18:53] You've got no home loan.
[18:55] We are on a budget.
[18:55] No, we are.
[18:55] We stick to a budget.
[18:56] Yep.
[18:56] How much?
[18:57] $600.
[18:57] Just for the two of you?
[18:59] Yep.
[19:00] Yeah.
[19:00] So $600 a week.
[19:01] That's your food, fuel, fun.
[19:03] Yep.
[19:03] But you've got no home loan.
[19:04] Why stick to a budget?
[19:09] Well, no, because we can see the progress we're making.
[19:11] You know what I mean?
[19:12] So sticking to that budget, it's not a tight budget by any stretch.
[19:15] I mean we've seen podcasts where they're $111.
[19:18] As I said, we're not doing without.
[19:21] Well, what's the motivation to budget?
[19:23] Is it the five properties?
[19:25] Is it ten properties?
[19:26] Is it retirement?
[19:28] Just financial freedom.
[19:29] Financial freedom?
[19:30] That's it.
[19:31] Don't swear at me.
[19:32] Tell me what financial freedom means.
[19:36] We've...
[19:38] Worked.
[19:38] We probably haven't done anything else.
[19:39] We haven't traveled.
[19:40] We haven't done any of that sort of stuff.
[19:41] We've had the kids and we've worked basically the whole time.
[19:43] Worked hard, raised the kids.
[19:46] Okay.
[19:47] To get us to where we are now.
[19:48] And now that we're with Infinity, we can see the leaps we're making.
[19:51] Okay.
[19:52] And, you know, we would like to stop working maybe a bit earlier than
[19:57] Yeah, than normal.
[19:58] Whether or not I'm off the tools in five years or so.
[20:02] Five years?
[20:03] For myself, yeah.
[20:04] Okay.
[20:05] Hopefully.
[20:06] Hopefully about five years.
[20:08] And then, as I said, whether or not we travel, whether we do something else.
[20:11] But as I said, the fact that we don't have to work.
[20:15] Did you celebrate or travel after you paid the home off?
[20:19] No.
[20:19] Why not?
[20:22] Oh, look, traveling's hard for me anyway.
[20:23] I don't get a lot of time off work.
[20:25] It's a family business that I run.
[20:26] So time off's hard.
[20:29] You better book some.
[20:31] Yeah.
[20:31] Potentially.
[20:32] We're trying.
[20:32] I'm trying.
[20:34] I'm forcing you.
[20:35] Or I'm going to sack you.
[20:36] You've got to go on a holiday to celebrate paying your home off.
[20:40] Yeah, we will.
[20:41] We will one day.
[20:42] No, we will me.
[20:43] Don't give me that shit.
[20:44] I've been around for too long.
[20:45] You don't need to sell me.
[20:47] It's just the logistics of it for Dan.
[20:50] Just a weekend away, guys.
[20:52] Oh, weekend away is all right.
[20:53] Oh, weekend away.
[20:54] We're talking about travelling, you know.
[20:55] At least do that a few times.
[20:58] If you can't go overseas, you can't.
[20:59] Do a few weekends away.
[21:01] Yeah.
[21:01] Knock off at lunchtime on Friday.
[21:04] Nothing could be on fire.
[21:05] You've got the phone.
[21:06] Yeah.
[21:07] Yeah.
[21:08] And go away for the weekend together.
[21:09] Yeah.
[21:10] Do that a couple of staycations or something local.
[21:13] Yeah.
[21:14] Celebrate it.
[21:15] Yeah.
[21:15] Oh, no, that part's okay.
[21:16] I'm on board with that part.
[21:17] As I said, the travelling for, you know, we'd actually like to travel.
[21:20] Yeah.
[21:20] Some people sort of haven't done, both of us.
[21:22] Okay.
[21:22] Yeah.
[21:24] What's the best?
[21:25] Big picture goal.
[21:27] So you say you want to be off the tools maybe in five years for yourself, pull back a little bit, maybe a bit more oversight, less day-to-day.
[21:37] What's the goal?
[21:38] Is it to have these five properties and live off the income they generate?
[21:43] I mean, you've paid your home off, so technically you could start paying off investments too as they pop down.
[21:48] I mean, that would really create some money.
[21:52] You could invest more.
[21:55] What's the big picture?
[21:56] Well, we've got really ambitious goals.
[22:00] They were dreams about a year ago.
[22:03] These were all just dreams.
[22:05] Yeah.
[22:06] Now we're actually sitting here saying these are our goals.
[22:10] Um, so I would like Dan to be able to come off the tools in the next five years.
[22:15] Okay.
[22:16] Um, I'm happy to keep working if Dan wants to change jobs or whatever.
[22:22] Um, but yeah, we do want to sort of start traveling, going overseas.
[22:27] Um, yeah.
[22:30] investing more would be great.
[22:31] Yeah.
[22:33] But our team here with Infinity know what our goals are.
[22:37] Yep.
[22:37] And they're guiding us through a strategy to achieve that.
[22:41] When it's appropriate.
[22:42] So if there's more properties involved, we're all in.
[22:44] Yeah.
[22:45] Yeah, and as things happen, we go, you know, that property's made a bit of money.
[22:49] We'll sell that and then pay that off and buy two more.
[22:53] We'll work, you know, as appropriate, we'll work through that in the strategy.
[22:57] So, okay, so five years get Dan off the tools.
[23:01] Okay.
[23:02] What else?
[23:03] Travel.
[23:04] Travel.
[23:05] We'd like to buy some sort of apartment up here at some point.
[23:08] That's terrible up here.
[23:10] Terrible.
[23:11] That's fantastic.
[23:12] I don't know why I left Sydney.
[23:15] Every time we come up here we think, yeah, no, look at the apartment.
[23:18] Yeah, we could be there.
[23:19] Okay.
[23:20] What would you tell someone at home?
[23:23] that currently has their home and actually are lucky enough to have a couple of other properties like you did or help the son or have your old, turn your old home into an investment.
[23:34] What tips or advice could you give for people listening in at home?
[23:39] Well, we had the three properties, as we've spoken about.
[23:42] We had a million dollars in loans.
[23:44] It was 60 grand or so in interest before we even started paying off those loans every single year, which was a horrendous strategy when you look at it now, when you look back –
[23:54] but you don't know what you don't know.
[23:56] So come to the experts.
[23:59] You don't fix your own car.
[24:01] You're a crook.
[24:02] You go to a doctor.
[24:03] Your finances, why does everyone seem intent on doing it themselves?
[24:07] You know what I mean?
[24:09] That's the $50 billion question.
[24:12] No one's going to trust anyone with their money, but you've got to trust the doctor.
[24:16] You've got to trust the mechanic.
[24:17] I mean, I'd be just as worried about a mechanic touching my car
[24:21] that Beck and I could be in danger in the car.
[24:24] I hope they fix it.
[24:25] I hope the steering's connected.
[24:26] I hope the wheels don't fall off on the highway.
[24:29] But we don't think about that stuff.
[24:31] Money's a funny one.
[24:32] It's a taboo one.
[24:34] How hard was it for you guys to then go, right, we're going to operate a budget, we're going to stick to this, and we've got a strategy, we're acquiring these five properties?
[24:44] Was it much of a change from what you were doing before?
[24:47] For me, yes.
[24:48] Okay.
[24:49] I like the honesty.
[24:50] So although I was all in and I was excited and, you know, Dan and I were both on board completely 100%, I had this fear of missing out.
[25:02] I suffer FOMO like you would not believe, right?
[25:04] Okay.
[25:05] So when they started talking to us about budgets and what is our FFF, we started at $875 a week for two adults.
[25:11] No kids.
[25:12] What was the other 272 something?
[25:20] It wasn't anything.
[25:21] It was just.
[25:22] That was just the numbers we thought we would need.
[25:25] Eat out, buy some clothes, whatever.
[25:27] Yeah.
[25:27] Okay.
[25:28] And then with the coaching, I think they picked up that I had a little bit of anxiety about this and they said, okay, we're going to let you have your 875.
[25:38] Okay.
[25:39] Okay.
[25:40] Initially.
[25:41] Initially.
[25:43] And then I was tasked with just looking at what we were actually spending as our weekly FFF.
[25:51] Right.
[25:52] And how much of it was just loose and how much of it was actually needed.
[25:55] That's right.
[25:56] And then within a couple of weeks we brought it right down to $6.50.
[26:02] Oh, in just a couple of weeks?
[26:04] Just a couple of weeks.
[26:05] So whilst you had the anxiety and it was a big change, you were able to work through that pretty quickly?
[26:09] Yeah, really quickly.
[26:11] What motivated you to actually go, oh, no, this is okay, and start dropping it down?
[26:15] The idea that we could actually invest in property, understand managing money and pay off our home loan.
[26:27] Gotcha.
[26:29] But then have structure.
[26:31] So that you're not just getting your paycheck when it comes in and then just spending it.
[26:37] It's sort of realising what is it that you actually need.
[26:43] And we don't miss out on anything.
[26:45] We've come down to 600.
[26:47] That was January this year.
[26:50] Um, we brought it down to $600 a week.
[26:53] Um, and now we sort of accrue a little bit every week.
[26:57] There's a bit left over in that.
[26:58] Yeah.
[26:59] Bit of fat.
[26:59] Yeah.
[27:00] And then we treat ourselves.
[27:01] You go out for dinner or something.
[27:03] Okay.
[27:03] Yeah.
[27:03] Or we'll go to, you know, gold class or something, you know.
[27:06] Yeah.
[27:07] So tell me this, are you happy to be 600, not 875, and have an extra 20, 30 grand at the end of the year that you can do something cool with?
[27:17] Extra.
[27:17] Or would you prefer to be back at 875, honestly?
[27:19] No, honestly.
[27:20] Oh, no, we're so comfortable.
[27:22] As I said, most weeks we don't even hit the 600.
[27:24] Yeah.
[27:24] But it's just one of those things where...
[27:26] You know, as if we want to go out, all the money's there.
[27:28] You know what I mean?
[27:30] And keep in mind, I like us things, it's your fucking money.
[27:32] Yeah.
[27:33] If you want to spend $1,000, I don't give a fuck, right?
[27:35] You'll get a phone call.
[27:36] Yeah.
[27:37] Suck your ass.
[27:38] Yeah.
[27:38] But, I mean, sure, and people don't understand that from the outside if they're not part of it.
[27:42] But, I mean, the community love listening to these.
[27:44] That's what they're really for, right?
[27:45] Yeah.
[27:45] But the people outside us listening to this are like, what do you mean these people control their money and they're on a bus?
[27:50] Well, no, you pick your budget.
[27:52] Yeah.
[27:52] We'll just coach you.
[27:53] We'll guide you.
[27:54] Yeah.
[27:54] We'll call you out on
[27:56] It's very easy to enable each other.
[27:58] Oh, babe, we deserve it.
[28:00] Right?
[28:00] Yeah.
[28:00] Having that third party on your shoulder, is that helpful?
[28:05] Is it a bit creepy in a way?
[28:06] To a degree.
[28:07] Yeah.
[28:07] Because as you said, we've got no home loan.
[28:09] We've got a heap of cash in the bank.
[28:10] Yeah.
[28:11] But I'll drive past 7-Eleven and think, oh, I'll go to Slurpee.
[28:14] And then I'll think, oh, no, what would Emily say?
[28:16] Yeah.
[28:16] She'll smash me.
[28:17] Yeah, that's it.
[28:17] Yeah, that's it.
[28:19] Unless it's unlimited Slurpee Day once a year, Ems is going to smash you.
[28:23] That's my one vice.
[28:24] I don't drink, I don't smoke.
[28:26] I'm like a Slurpee now and then.
[28:27] Oh, well, she's not going to see.
[28:28] If it's every dash stock in there, well, you put it in the budget.
[28:30] Put it in there for free.
[28:31] No, I'm saying that's it.
[28:31] So I get that when we have our catch-ups.
[28:34] You've been getting 7-Eleven.
[28:35] Yeah, I have.
[28:37] So I've got to – but no, apart from that, it's –
[28:41] We don't miss out.
[28:42] We don't miss out.
[28:43] Okay.
[28:45] What other tips do you think you could give to people in your process that you've gone, oh, shit.
[28:50] Like what were you not aware?
[28:52] What are some of the things in the webinar of the masterclass?
[28:54] I didn't know that.
[28:55] I didn't know this.
[28:56] I didn't know.
[28:57] Or, you know, I mean you guys have then sat with the financial planners
[29:01] So you've actually changed your super.
[29:03] You control now a self-managed super fund.
[29:05] Obviously your old funds weren't doing as well as they could be or, you know, typical for most people you have your default ones really.
[29:12] But, I mean, what are some of the things you've learnt over the last year or so you go, oh, you've got to be really careful of this or you've got to be really careful.
[29:19] I don't know.
[29:19] I'm just really intrigued.
[29:20] What could you share with people?
[29:24] Well, as I said, I don't think a lot of people realise how little they're paying off their mortgage just with their everyday payments.
[29:31] Yeah.
[29:31] We're just making the normal payment.
[29:32] So that process in the masterclass of what you're paying, your interest each day.
[29:37] Yes.
[29:37] I don't think anyone knows how much interest they get charged each day or calculated.
[29:42] Yeah.
[29:42] That's a real scary one.
[29:43] Yeah.
[29:43] But then you work out in that worksheet we do of, hey, you put 30, 40 grand at your loan.
[29:48] Yeah.
[29:48] You only paid off nine.
[29:50] Yeah.
[29:50] Or 11.
[29:50] Yeah.
[29:51] That's pretty wild.
[29:53] That was terrifying.
[29:53] People freak when they do that.
[29:54] And then when you do the calculator, which shows how quickly, you know, if you put your – as I said, no one's asking you to cut, you know, live on two-minute noodles.
[30:03] No.
[30:04] It's, you know, putting the numbers that you've generated is what you think.
[30:06] And we put in the 875.
[30:07] Yeah.
[30:08] And it still took like 20-odd years off our loan.
[30:11] Mm-hmm.
[30:11] Mm-hmm.
[30:14] So we want to get off the tools in five years.
[30:17] We're happy sticking to this budget at the moment of the Food for Fun 600.
[30:20] We want to start to travel a bit if we can get off the tools.
[30:24] Anything else out there in your mind?
[30:26] Apart from buying the Gold Coast Department.
[30:28] Don't forget that one.
[30:28] Sorry, Gold Coast Department.
[30:30] When do we want that?
[30:33] That's a question for Dan.
[30:34] Yeah, I'm not sure.
[30:35] I said my parents are a bit older now because I don't know if I want to leave Victoria while they're – Oh, this is to live?
[30:41] This is to live.
[30:42] Oh, okay.
[30:43] No, we want to relocate to Queensland.
[30:44] We want to retire up here for sure.
[30:45] Okay, to the warm weather.
[30:47] Yep.
[30:47] Yep.
[30:48] Okay.
[30:49] Yeah, so the good weather, getting out of Melbourne is terrible weather.
[30:51] But so, yeah, that's sort of up in the air a bit.
[30:55] But, yeah, we'd like to move up here at some point.
[30:57] Okay.
[30:58] I've got a bit of an idea on that.
[31:00] Okay.
[31:02] I can see the twinkle.
[31:03] Yeah, the brown.
[31:06] We'll come back.
[31:07] We'll talk about that later.
[31:08] I've got a bit of an idea on that.
[31:10] All right.
[31:10] Okay.
[31:10] Okay.
[31:11] Okay.
[31:13] And we would then sell, so you bought in the city in Dockland, so you've got an apartment there.
[31:19] Yes.
[31:19] What's that worth today?
[31:20] Do you know?
[31:21] Around $750-ish.
[31:23] And obviously we'd sell that.
[31:25] Yes.
[31:26] And take all the cash and there's that $750 to come bring to a unit in Queensland.
[31:31] Okay.
[31:32] You want an ocean view or a river view?
[31:34] Ocean.
[31:36] Okay.
[31:36] You want to be on the beach or a couple blocks back from the beach?
[31:40] Preferably on.
[31:42] Yeah, close enough to.
[31:43] How many bedrooms?
[31:45] Well, see, I have a wish list.
[31:47] Here's the thing because they jump up a lot too.
[31:51] So having lived in an apartment in Docklands,
[31:54] We want a laundry.
[31:55] And I say that sounds stupid, unless you live in an apartment with one of those European laundries.
[31:59] Carbid laundries, yeah.
[31:59] Yeah.
[31:59] So, but the problem is, is the apartments with laundries tend to be the three bedroom, you know, and then you get a laundry and it's super expensive.
[32:06] Yeah.
[32:06] You know, so that's, that might be a compromise.
[32:10] But as I said, two bedroom or three, two bedroom, three bedroom, ideally.
[32:13] Two to three bedroom.
[32:14] Yeah.
[32:15] Laundry.
[32:15] Yeah.
[32:16] Carparks.
[32:18] Two.
[32:18] Two car parks.
[32:19] We've got one now and it's just a pain when anyone comes out.
[32:22] We've only got one car.
[32:23] Two bed.
[32:24] Minimum two bed, two bath, laundry, maybe a third bedroom media room study.
[32:32] Two car parks.
[32:33] Ocean.
[32:34] Okay.
[32:36] Okay.
[32:37] We need to do a review of your strategy.
[32:39] Yeah.
[32:40] Okay.
[32:41] Okay.
[32:41] This will be interesting.
[32:44] All right.
[32:47] Kids.
[32:48] How old now?
[32:50] 28 and 24.
[32:51] And are they looking at getting into the market?
[32:54] They're in the market?
[32:55] Our oldest is in the market.
[32:57] Yeah.
[32:57] He purchased his first home earlier this year.
[33:00] Awesome.
[33:01] So he's now officially adulting.
[33:04] Okay.
[33:04] Stressful.
[33:06] Yeah.
[33:06] Yeah.
[33:07] And do you help pass down any knowledge to him and to them and like, hey, consider this, consider?
[33:13] Or do they just not listen?
[33:14] No, no.
[33:14] So, yeah, Brendan's been asking questions and Jazz did a sort of a budget spreadsheet for him.
[33:21] Okay.
[33:21] Yeah.
[33:23] Yeah.
[33:24] Yeah, so it worked out.
[33:24] Okay.
[33:24] And we'd put the numbers into the calculator just to see how it'd go, and I think it took, because he's at 29 years and five months or something.
[33:31] Right.
[33:31] And it took 25 years off.
[33:34] So you can crush it.
[33:35] Yeah.
[33:36] Yeah.
[33:38] And that's not with anything else.
[33:39] That's not with, that's just changing, just putting a money recipe.
[33:42] Just using Rapid Repo.
[33:43] Yeah.
[33:43] Yeah, that's it.
[33:44] And you can sort of pass it on for free, explain how it all works, see what product they've got.
[33:49] Yeah.
[33:50] Yeah.
[33:50] So he's watched the webinar.
[33:52] He's been looking at the podcasts.
[33:54] Good.
[33:56] So, yeah, he could be a future client of Infinities as well.
[34:00] Even if he has a crack in himself and starts to get some traction, that's all that matters.
[34:03] Yeah, but he just didn't believe what I was explaining to him and very similar to us.
[34:12] It wasn't until we put it in an Excel spreadsheet for him to actually see.
[34:16] Yep.
[34:17] And I sent it up to him and he read it and he rang me and he goes, is this real?
[34:24] And I said, well, these are the numbers you gave me.
[34:26] You tell me if it's real.
[34:28] Are you lying to mum or not?
[34:30] These are your numbers.
[34:31] And he goes, you know, we've covered everything.
[34:34] He goes, I can't believe it.
[34:36] And then he did his first.
[34:39] sweep at the end of July and rang me and said, you would not believe how much I've just put onto the home loan.
[34:46] Thousands.
[34:47] Thousands.
[34:49] So he's doing it.
[34:50] He's doing it.
[34:51] Awesome.
[34:51] He's doing it.
[34:52] His FFF could use it a little work.
[34:54] It was 950, I think.
[34:56] Hey, thousands off the debt, living a life as a young family, thousands ahead that month.
[35:00] Yeah.
[35:01] That's wild.
[35:02] I mean, most people are lucky to get a thousand a month principal reduction.
[35:06] So if he's done thousands in a month.
[35:08] Oh, I know.
[35:09] It's going great.
[35:10] That's awesome.
[35:11] That fills me up.
[35:12] Oh, it does.
[35:13] That's generational impact now.
[35:15] Yeah, 100%.
[35:16] So he's due to pay off his home loan by the time he's in his early 30s.
[35:20] That's wild.
[35:21] Yeah.
[35:22] Absolutely wild.
[35:23] Yeah, it's really great.
[35:24] That must fill you guys up.
[35:25] That must make you feel pretty good.
[35:27] It really does, especially because, you know, if we wished we knew this 20 years ago, you know, where is this information and why isn't it being publicly shared by all streams and all companies?
[35:44] All of the industry, not one or two people, like the entire industry.
[35:49] And it really surprises me when other brokerage companies come out and say negative things about Infinity because if they were just to actually look and listen, they could help their clients.
[36:02] I don't think a lot of them have got 4,000 active clients, families.
[36:06] No, yeah.
[36:06] That are actually or statement proof of paying a loan off as quick as we do.
[36:10] Yeah.
[36:11] Right?
[36:11] And that's the thing.
[36:12] People get upset.
[36:13] They get frustrated.
[36:14] They know the numbers.
[36:15] They just don't have the care factor to actually coach people.
[36:18] The expense that we had to start this business, to hold your hand all year and coach you, we lost money out of that.
[36:25] But no one will ever catch us because we took that loss for years to build a brand, to build a business, to have proof.
[36:32] You know, you meet clients like Doug and Tish from 2012 and Craig and Kim from 2016.
[36:38] You meet these people from years and years and you go, it's real.
[36:40] They can hate.
[36:41] The biggest one at the moment is seeing the news is this offset thing.
[36:44] Literally last night on all the news channels, ASIC's coming for all the banks for not linking offset accounts.
[36:51] What have I been saying for years?
[36:52] What's my number one pet peeve?
[36:54] Yeah.
[36:54] There's about 400 pieces of content out there where someone's taken a video of me and done a video together about, no, I don't.
[37:02] Offsets are great.
[37:03] Graham's a dickhead.
[37:05] Well, all the banks are getting invested, so I'm going to have a fucking field day on a video in the next few days.
[37:10] 100%.
[37:11] I win.
[37:12] And, again, people got to be careful.
[37:14] You know, like you spoke to another company and they said they couldn't help, couldn't do anything, couldn't sell.
[37:17] I see it all the time where people are like, no, we can't help you, you can't do anything.
[37:22] There's businesses out there like, yeah, we'll help you pay your loan off in seven years.
[37:26] You look at the ABN of the company and it's been around for two years or two months.
[37:31] Come on.
[37:32] So I think people do still need to be very careful, still have your radar up, still have your bullshit detector.
[37:38] But I think from our perspective, try it like your son's done.
[37:42] Try the process.
[37:44] Take free information and have a crack yourself.
[37:47] It costs nothing.
[37:48] If you can pull your finger out of your back so I never crack, set up the budget.
[37:52] It's all in the free webinar.
[37:54] I like doing it.
[37:54] It's free.
[37:55] Do it.
[37:56] You'll win.
[37:58] Okay.
[37:59] Well, we're going to definitely make sure you guys book a holiday as soon as we can or at least a weekend away to celebrate.
[38:07] We're going to get you back maybe in three months or six months and have a chat about the next evolution of your strategy.
[38:14] Okay.
[38:15] and the Gold Coast unit, and there's something percolating.
[38:19] And we're definitely going to do another part to this so everyone can see how it goes and whether it works or it's full of shit, et cetera.
[38:26] But before we end today, I want to know what couple of questions you got.
[38:29] And I know one of your questions, I mean, you can ask it again if you like, but you got one of your questions stolen by another Infinity member.
[38:36] They stole it off you.
[38:37] They did.
[38:38] What's on your mind?
[38:38] What have you been dying to ask me over the last year or so?
[38:43] I'm always intrigued what people want to pick my brain on.
[38:46] Well, I was going to ask anyway about our strategy going forward because, as I said, we've got a whole heap of cash in the bank and some of it's been put aside in case we have to pay CGT.
[38:57] Yep.
[38:58] But apart from that, does it just keep accumulating?
[39:02] Good question because, oh, sorry, cash is trash, right?
[39:05] You get a couple of points and, well, what do you do?
[39:07] Pay tax on it.
[39:08] There's a couple of things we could do.
[39:10] One, we can put it into something like the mortgage fund.
[39:12] Yep.
[39:12] And there's a couple of different products there now.
[39:14] You can do like an eight-month one.
[39:16] It earns 8% or 10%.
[39:18] You can do a year for 10%.
[39:20] I think 24 months is 12%.
[39:21] Paid months.
[39:22] There's a couple of options there to earn some really good monthly income.
[39:25] I've got a lot of my self-managed super cash.
[39:27] We sold some assets.
[39:28] We had a heap of cash.
[39:29] Yeah.
[39:30] before we bought some more assets.
[39:31] So that's in the fund.
[39:32] And I get 12% per annum paid every month.
[39:35] So something like that would be a consideration.
[39:38] We'll have to chat with the financial planners.
[39:41] We could look at the overall strategy.
[39:44] We've got all this cash.
[39:45] Okay.
[39:46] We've got some properties that are about to occur.
[39:48] Do we buy something else?
[39:50] So if you ask me, I'm quite aggressive.
[39:53] and rates are going down, prices are going up.
[39:56] That won't always happen.
[39:57] There could be a 10-year period where the whole market's flat.
[39:59] But right now we have a shortage and a crisis, sadly.
[40:03] If you asked me and I was you right now, I'd be more aggressive, and I'd be going out and buying properties for years ahead of schedule that I probably can't even afford today, Nellie.
[40:14] But I know that the first one you bought, you'll sell that to then be able to borrow again to settle the last one.
[40:21] Yeah, okay.
[40:22] So that's what we call that stretch strategy.
[40:24] So for me, I've done really well and you wouldn't want to be trying that in a declining market or if anything went wrong.
[40:31] but I'm quite aggressive most of the time and for a lot of clients as well where we go, okay, well, we've got these four properties here and we've got one in the super one as well.
[40:40] These four here at different times, if they do what we need them to do, we sell number one
[40:46] to be able to have that capacity to buy number five.
[40:49] We sell number two to buy number six.
[40:51] We sell number three to buy number seven, if that makes sense.
[40:55] So it's just sort of a chronological timeline of what your borrowing capacity is and what the properties are doing at each point of the market
[41:04] And if we can just get those couple of points across that entire portfolio, you'll have enough growth, less cost to be selling and starting again.
[41:13] And the concept is try to sell one to get into two or sell a little one to get into a better one or different location.
[41:23] So I don't think it's ideal to sit on cash for a long period of time.
[41:28] You could do anything which I don't do.
[41:30] You could do shit coin.
[41:31] You could collect wine, art, all sorts of weird things, precious metals, you know, gold, silver, bullion, whatever.
[41:39] I'd be inclined to look at something fairly stable like a mortgage fund or something like that, some sort of fund there where you get a return but you don't get capital growth.
[41:48] So it's like, hey, you know, if you put – just make up a number.
[41:51] If you put 200 grand in, in a year's time you get your 200 grand back but you'll get your return along the way.
[41:56] Yeah, okay.
[41:57] There's no capital.
[41:58] Or we look to control assets, which is me.
[42:01] I look to put a deposit on an asset and that particular asset, I'm going to put down my 10% and in a couple of years when I own it, hopefully it's worth more.
[42:11] I don't have to service the debt.
[42:13] But, again, we just have to look at the capacity to not stretch you beyond what's comfortable for you.
[42:21] Well, then that sort of leads into my next question then.
[42:24] Because we downsized to a two-bedroom apartment, it's only worth $750, is that low value of our PBR low?
[42:33] hindering us, holding us back from having more redraw for argument's sake?
[42:38] It's not hindering you.
[42:39] It does mean that instead of having a million-dollar home where the bank will lend you 80% and you can pull 800 out, you've got 750.
[42:47] We're then going to take off 20% of the 750.
[42:50] Now we can borrow 600.
[42:52] So you can borrow 600 instead of 800.
[42:53] So, yeah, if your asset value is higher, then you could use tax-deductible equity as opposed to cash.
[43:01] I don't like to use cash.
[43:03] It would be better to be able to draw it as a loan.
[43:06] In saying that too, maybe you decide you want to upgrade the home.
[43:11] Well, that's the thing.
[43:13] Well, yeah, well, that's down the track a bit, I suppose.
[43:16] But as in for now, though, the fact that we've got the cash there plus a sort of a lower value family home, is that a- It doesn't hinder you because you've got the cash as well.
[43:27] Just once the cash is deployed, it's deployed.
[43:29] That just becomes equity in an investment.
[43:32] You can't claim any interest on it later.
[43:34] You'd have to draw that as a loan and go put it into a different investment.
[43:38] So it becomes, so to speak, dormant cash.
[43:40] It just becomes equity in an asset.
[43:43] which is an idea.
[43:43] We want to try to use the bank's money and claim the interest.
[43:46] Okay.
[43:47] But there's some things we can do, and we'll do a strategy review here and rewrite it.
[43:52] Maybe we upgrade the home.
[43:54] Maybe sell Docklands and get something else.
[43:58] We're happy there.
[43:59] It was just a thought more of the strategy.
[44:02] I don't know.
[44:03] You can rent pretty cheap down there.
[44:05] Maybe you sell Docklands and buy a unit on the beach on the Gold Coast and just rent in Docklands.
[44:11] Maybe.
[44:12] And rent vest.
[44:12] Yeah.
[44:13] It's just how do we, what can we do to be able to invest more is sort of where we're at now.
[44:20] Well, that would be one.
[44:21] Yeah, okay.
[44:22] Potentially.
[44:23] Then you'd be rent vestors.
[44:25] So what the trade-off would be is will Docklands, as your home with no capital gains tax, outstrip an oceanfront apartment on the Gold Coast for growth?
[44:34] Yeah, that'd be well.
[44:36] Might.
[44:37] Why not?
[44:37] And if we play that and go, well, it probably won't.
[44:40] then maybe you could transition and go, well, we can just, someone will buy our place as an investor, we'll put a lease in place and we'll just stay here and rent it for a year or two.
[44:51] But we'll go take all of that and acquire something.
[44:53] We'll go over here with the tax deductible loan, but then we've got all the cash still so that we can start to.
[44:59] Okay.
[45:01] I'll rewrite your strategy for you.
[45:03] That'd be great.
[45:04] Yeah.
[45:06] You here all weekend?
[45:07] We are.
[45:09] Oh, fucking look out.
[45:10] I've got a deal for you.
[45:13] Yeah, wow.
[45:14] The brain's ticking off.
[45:15] There's lots of deals.
[45:16] I'm just spitballing here, but there's definitely something there that we can do that's going to improve your position substantially.
[45:23] Wonderful.
[45:25] We can either look to generate an income stream, we can look to deploy and acquire more assets as a couple.
[45:31] We'll just go through your risk profile and what's comfortable and what's not.
[45:35] We'll look at your total serviceability capacity and then we can sit down and get the accountant brain and the lawyer brain and the plan.
[45:42] We can all thrash it out and put something together for you.
[45:46] But I think you're probably going to end up with some new shit at the end of the weekend.
[45:49] Excellent.
[45:51] No worries.
[45:52] Could be an exciting weekend.
[45:54] It could be.
[45:55] Fantastic.
[45:56] So what other questions have you got for me?
[46:01] That was the cash, so we don't want to sit on that, so we'll rework that.
[46:06] We'll do something with that.
[46:08] What else comes to mind?
[46:10] We already had your other good questions stolen.
[46:12] I can't believe it.
[46:12] And that's the thing, right?
[46:15] He owes me a drink.
[46:18] I've forgotten the question now too, by the way.
[46:20] It was about how do you weed out all the dickheads from being clients.
[46:23] Oh, it was too.
[46:24] Because we are yet, seriously, even now we're still yet to meet
[46:28] A bad person.
[46:28] They're great.
[46:29] Seriously.
[46:29] Yeah.
[46:30] And it sounds like.
[46:30] I'm a bit of a dickhead.
[46:31] I mean the clients.
[46:32] Yeah.
[46:33] You're in front of me.
[46:36] You're all right.
[46:37] Oh, gosh.
[46:38] Like what's the name?
[46:39] I'm not you.
[46:39] You're a dickhead.
[46:41] No, but, you know, as I said, people will sign up to the masterclass and then they sign up to be clients, but.
[46:46] Mm-hmm.
[46:47] you know, trying to weed out the people you don't want as clients.
[46:50] Yeah, I'll touch on it.
[46:51] We work really hard.
[46:52] Like at every event, we look at the chat bar, we download the chat bar.
[46:56] I really, the team are really well trained to monitor your interactions with them, how you treat them in email, text, calls, you know, all the meetings recorded for compliance and stuff like that.
[47:08] Are both parties invested?
[47:09] Are they getting it?
[47:10] Are they not?
[47:11] Is someone being dragged along kicking and screaming?
[47:13] Do they put their trolley back?
[47:15] Are they a good human being?
[47:17] Are they going to want to be with us for years to come?
[47:20] Because let's be clear, we've got an amazing business, changing lives, huge impact.
[47:27] We don't have to take a client.
[47:29] Right.
[47:30] Craig says this where I said, you need me, I don't need you.
[47:35] We're in a really great position where it's like we don't do leads, we don't do inquiries, you watch the fucking webinar for free.
[47:40] If you really like it, you come to the thing with a money-back guarantee and if you like that, you apply.
[47:45] I say no to 20% of people.
[47:48] So we're really fortunate that because of where the business is, we don't have to chase clients, leads or business.
[47:56] We get to be selective in the right business.
[47:59] And that's a wild fucking fortunate blessed position and overnight success of fucking 25 years to get to that position.
[48:08] So when you can pick who you do and don't want to work with,
[48:12] You can filter out the fuckwits.
[48:13] Yeah.
[48:14] And that's that no dickheads policy we have.
[48:18] The couples still slip through.
[48:19] They're not honest in the process.
[48:22] They're not really forthcoming or one part.
[48:24] Yeah, yeah, yeah, I'll do the meeting.
[48:26] But eventually within two, three months we figure it out.
[48:29] We give them their money back and fuck off part ways because they just consume 80% of your time.
[48:35] But we got really good at it.
[48:36] I think.
[48:37] I think usually every event we get we got really, really good at it.
[48:40] And if you are anti what we do but you're trying to come along for the ride with your spouse or something, you're not going to fit in.
[48:49] Like you're going to be the fucking odd one, and I mean one, in a room of 500, 600 people.
[48:54] You will really stick out like dog's balls.
[48:57] And I'll find you pretty quick too in a row.
[49:02] Or they'll ask the ask whole nobsticle question.
[49:05] Yeah.
[49:05] And you know I'm not going to fucking sugarcoat it.
[49:07] I'm going to fucking go straight.
[49:09] Hey, yeah, I'll give you your money back.
[49:10] You're a fucking idiot.
[49:11] Like when a business doesn't desperately need somebody's money, when they can truly advise, give money back, who's out there giving money back guarantees on their work?
[49:23] Yeah.
[49:23] Do you know what I mean?
[49:24] Like the risk is on us.
[49:26] If we do a shit job, you get your money back.
[49:29] Who's doing that?
[49:31] Who's putting 500 people in a room together going, yeah, go and bitch about me?
[49:35] It's very unique.
[49:37] But that's absolute trust and faith in what we do, who does it, the team, the people.
[49:43] And let's be clear, you look at those webinars and stuff, I kind of piss people off instantaneously.
[49:49] They're like, this guy's a fucking flop.
[49:51] Yeah.
[49:52] or I attract you.
[49:53] And I tend to attract.
[49:55] And look, we've got pastors.
[49:57] I'm like, and they're like, cringing.
[49:59] We have pastors.
[50:01] We have barristers.
[50:02] We have people that work at the ATO.
[50:04] Someone that works at ASIC.
[50:08] We have people that work at banks, real estate agents.
[50:11] We have a broker as a client, only one that I've accepted.
[50:15] The rest is a fuck off.
[50:16] Financial plan.
[50:17] Like we have a real partner.
[50:19] broad spectrum of clients, but they're all good people no matter what they do for work.
[50:25] And they'd all happily, in support of Beck and I for what we've done for their family, are happy to support our beliefs.
[50:31] They'll do the Kmart Salvos thing.
[50:33] They say, I want to raise 500 grand or fucking two, 250, 500.
[50:37] And I want fucking truckloads of presents at the door to get in the Christmas party.
[50:41] And I know we'll do it.
[50:42] As a community, we'll do it.
[50:43] It'll be epic.
[50:45] So I don't know.
[50:45] I think we just, we have a lot of momentum as a community and an organization.
[50:52] People got each other's back.
[50:53] They're all like-minded.
[50:54] It's very rare that the dickhead slips through now.
[50:57] Oh, it's incredible, the community.
[51:00] It's taken a long time to get to that point.
[51:02] Yeah.
[51:03] You know, we used to hardly refund anyone and say, yeah, we'll work with anyone.
[51:07] Like most businesses, we very quickly realised a lot of those, 20% of those people cost me money.
[51:13] Okay.
[51:13] Because you do all the work and then you've got to part ways anyway and you've got a money-back guarantee.
[51:17] Okay.
[51:18] So we might as well not waste each other's time.
[51:20] I still get people get pissed off.
[51:21] How dare you refund me?
[51:23] I spent all blah, blah, blah.
[51:25] Why did you refund me?
[51:26] Why can't I work with you?
[51:27] Fucking exhibit A, idiot.
[51:29] Look at the abusive mess.
[51:30] That's kind of not how you, hey, could you please reconsider my application?
[51:34] Exhibit A, I picked it.
[51:37] And I throw it back.
[51:39] Exactly your message.
[51:40] Exhibit A, all the best.
[51:41] I hope, you know, good luck.
[51:43] Yeah.
[51:43] Yeah.
[51:43] So we're really firm on that.
[51:45] But that's 25 years of work of being in the industry for myself, for Beck and I since 2012.
[51:52] What's that, 13-odd years of, you know, the same kind.
[51:55] Like it's a decent stint for most businesses don't survive 13 years.
[52:00] So we work really hard and we've got some really good people.
[52:02] Yeah.
[52:02] And I think it comes down to that.
[52:04] And they all care.
[52:06] The hours, they all care deeply.
[52:09] They bust their asses.
[52:10] They care.
[52:12] And that's unlike most.
[52:14] If you walk into a bank,
[52:15] Yeah, they might like their job, but most of them don't give a shit.
[52:18] They clock on and clock off.
[52:19] Some of them do.
[52:19] They're great people, but most of them just going through the motions and they're jumping from bank to bank and job to job.
[52:25] Most of our people, they want to be here forever.
[52:29] They all run their own business within the business and that's really important too.
[52:34] So if they take someone on...
[52:36] that screws up their day and their diary and everything going on, that's their business in my business.
[52:43] Does that make sense, the way I run it?
[52:45] So our relationship managers run a portfolio of clients, they get their salary and they get incentivized on those relationships.
[52:53] So we look after our team really well too.
[52:56] I mean that's an incentive but they do it anyway because we pick the right people.
[53:00] If they pick the wrong person, it fucks up their business in our business.
[53:05] So I think that's really important in letting our team run their own businesses in our business.
[53:10] That's a really important facet too.
[53:15] Anything else?
[53:16] I think we're pretty good.
[53:17] I think we're good.
[53:17] You've sold us.
[53:19] Yeah.
[53:19] It's been an absolute pleasure.
[53:21] You should be so, so freaking proud of what you've achieved.
[53:25] Yeah, we are.
[53:26] And take time to stop and smell the roses and celebrate it because it's huge.
[53:31] But we're going to review the strategy and we're going to do a part two to this in the next few months so people can see where to from here.
[53:38] What are we doing with the cash?
[53:39] Yeah.
[53:40] Are we staying in the current property?
[53:41] Do we get the beachfront unit?
[53:43] We're going to do a part two to this.
[53:45] All right.
[53:45] That sounds good.
[53:46] And I'm very excited because I already know what it's going to look like.
[53:49] Oh, no, Mike.
[53:50] It's been a pleasure, guys.
[53:53] Thanks for sharing with everybody.
[53:54] No worries.
[53:55] Thanks for letting us share.
[53:56] It's a pleasure.
[53:57] We can help someone.
[53:58] Hopefully one family that goes, oh, that's just like us.
[54:00] We need to sort our shit.
[54:01] Yeah.
[54:01] And that's the idea.
[54:02] So thank you.
[54:03] Very good.
[54:03] No, thank you.
[54:04] You're fucking gone.
[54:05] See ya.

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