Latest / Money Grows on Trees / #242 - How Her Property Was Putting Her in Debt

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#242 - How Her Property Was Putting Her in Debt · Money Grows on Trees

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Just sold everything. It took me about six years to
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actually to sell it. I was too scared after
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That I had to work hard and save it because I wasn't worthy of
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Your income had fallen, you had a small business and you were losing money
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on this property. Even though you had the asset, what was happening in
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We were living off savings. It was our investment property.
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What would be your very best advice to our audience to
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help them? Be okay with it. I'm Lloyd James Ross, seven-figure investor
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and entrepreneur, and I've helped thousands of business owners and professionals turn
0:39
financial stress into success. If you're stuck in old money
0:42
habits, overwhelmed by investing, or unsure where to start, this
0:46
is for you. I'll give you the mindset and strategies to take control,
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grow your wealth, and achieve financial freedom. It's time to
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make your money work for you. Well, we have another very, very
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special episode of the Money Grows on Trees podcast here because we've
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got a very special guest who's joined us in the studio. She's
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driven a long way to be here. So I'm super excited to have her. You're going
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to love her story and the lessons she's going to impart to you and the wisdom she's
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learned about money, about her life and
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herself. And what's really interesting about
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it too is that she's also a chartered accountant. And
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she's one of our Money Buys Happiness readers. And she's
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one of our students. In fact, she's an elite student in our elite
1:29
program, which is one of our mentorship programs where we teach and
1:32
talk about money and time management and
1:36
effectively raising our standards financially to win the
1:39
financial game. And so she's in the studio. We're going to
1:43
ask her some questions. And she's going to give us
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authentically who she is and what she's done, where she's come from
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with her money, where she's going with it, and some wonderful lessons
1:54
for you all to learn and take away. And it's none
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other than Erin Moss. What's up? Thanks
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A little bit nervous? Yes. You look fine, though.
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I know we finished at midnight. I think I went to bed at two o'clock. and
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vibrant ready to go the next day and you're also in the
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studio together too so definitely thank you for making the time oh thanks for
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having me and i'm glad you enjoyed last night and i'm glad we made it here yes
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the studio so um right now the
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topic of discussion is gonna be mostly about you, okay? Like
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99% of it. And I'll interject when I need to, to ask you some more questions to find more about
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you. Part of what we wanna do today is I want to learn about your story with money.
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And we're gonna go back to the remembering room before
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we started working together. And then we're gonna move through your story and impart some
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cool lessons for the audience, okay? So
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my first question is, If you can take us back
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a couple of years ago even, where were you at with
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finances and with money and what
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Well, I've always been a bit of a saver and
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so I would just squirrel money away all the
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time and then I would only spend it on stuff that I really
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wanted, which was, you know, few
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and far between. But like you said before, so I'm a
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chartered accountant, so I did my training and had
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a few investment journeys along the way,
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but I always like
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wasn't in control so I had no idea what I was doing and so like
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I bought a couple of investment properties with my husband and
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it was like we got a cold call and we went we
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got flown to Brisbane and we bought this house like there and then and
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I'm like I know all about negative gearing and I thought I
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can do this. What are they talking about this? And so
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it all sounded really amazing. And so we
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bought our first property. A year later, we bought another one. And
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then it just never really made a
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any money and so but I was determined to
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hang on to them I was like this is a long-term investment
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so I'm like it's it's gonna be fine it'll grow you know and
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and then I also trusted the financial planners in
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the office and I said right I want to invest my money I remember saying
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to our financial planner in the boardroom one day I'm like I want to
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retire when I'm 30 and And he's
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like, and how are you going to do that? And I'm like, I don't know, that's what
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you're here for, right? And he's like, right, we're going to have to borrow all this money.
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And anyway, nothing ever happened with that. But he
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then, I said, right, well, I want to invest in something. And I
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did manage funds. But what I didn't realize was,
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because he said, right, let's get a margin loan and
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we'll capitalize the interest. And so I
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thought, okay, well, this is capitalizing usually
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to me meant it was an asset. So I'm like, this is growing. And
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then what I realized later was
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it was actually just borrowing the interest. And
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so, cause I said, well, should I be paying interest on this
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loan? Like, well, I'm not giving any money. And it turns out my
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loan was just growing. And then the GFC happened.
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So not only, you know, did that just go down the
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toilet, but I also then had this loan. And so I
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was like, one of my other, the partners
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at the firm said, you need to get out. So I basically, I
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just sold everything. It took me about six years to
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actually get out of it, to sell it. And
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so I was a bit disappointed because I was like, I'm
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trusting these people. Like I thought I knew stuff, but
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turns out like I know how to count money, but not make money. So,
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yeah. So, you know, I put half into this margin loan investment and
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I put the other half into buying my first house. And so, you
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know, use it as a deposit. So, but yeah. And
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then it was just like, I never really, I was too scared. after
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that to invest. So I'm hanging on to these other houses, but
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Yeah. Yeah. Well, it would have been a very tricky, like, how
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did it feel when you were like in that cap? So for
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the audience, when you capitalize interest, the interest that you
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should be paying on the margin loan is added on top of each other, and they stack
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it and compound it up. And you still have to pay it, but not until later. And
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the idea of that would have been to see where the portfolio would have risen beyond
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the interest payments. And unfortunately, if it doesn't, And
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he goes the other way, very bad. Right. And that's what happened
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Reverse compounding. How did it, how do you feel? You just felt, did you feel what?
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When I had it. Yeah. When it happened, like when it, when you realized what it was.
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Oh, it was gut wrenching. Cause I thought, why, how
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could I be so stupid to think that this was
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a good thing? Like, why didn't I do my due diligence? Like,
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why didn't I look into this a bit more, you know, that
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A hundred percent, yeah. And lost trust.
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Okay. So you've had some, that gnarly experience, which
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would have inflicted some wounds and, you know, made you
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apprehensive. Yeah, definitely. So how, what happened after that?
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So where did, how did we come into connection? Like what was the, how
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did that happen and unfold? The book. Which
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Arrived on my Facebook and I was like,
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what is this? And it kept popping up and I thought, all right, I've
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read lots of books, I've done courses and I thought, I'm at
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a point in my life. So I just moved actually. So
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I uprooted my family and we moved north. And
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I came across your book, and I thought, oh, I'll read it. So
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I thought, oh, I'll get it. Didn't read it. And
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then I was sitting in the doctor's surgery one day, and I'm like,
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oh, I'll just start reading it in the waiting room. And
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I'm scrolling through, and I'm like, oh, this is actually pretty good. It
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provides some really simple advice And
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I'm like, oh, okay. So I went home and I actually printed it.
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And so I think I read the whole thing that day. Wow.
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So yeah, so I'd put it off and put it off. And then of course, um,
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I get all the emails cause I'm like going, who is this joker? Like
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he's. Why would I go? I'm like, it's
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good advice, but yeah, you know, I'm probably not going to do anything else.
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And, um, and then I get the email about the coaching session
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and I thought, ah, nah, it's just a scam. Like, why,
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why would I do that? And I'm like, uh, he's just trying to try and sell
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me something. So I put it off and put it off. And then I was
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like, oh, I just stuff it. I just need to
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do it. Like it's a free coaching session. What, what's the worst that
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Well, when I moved interstate,
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I actually cut my income in half. And so we'd
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bought a business and I wasn't making as
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much money and we were actually going backwards. And so
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on a month to month basis, I'm like going, right, we're living off
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savings. And so I was like, we need to do something.
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And so that's when I thought, look, maybe this coaching might be, just
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give me something that I can move towards and be able to help
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us move forward. And, you
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know, give us some tips on how to get out of the hole that we dug for ourselves.
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Good, well that makes sense. That's kind of what prompted you, like maybe this
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is something a little bit different. So you obviously, well,
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We booked the call and then Melissa got
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me to do the audit. And I'd been tracking my
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expenses for years. As an accountant, I'm like, oh,
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I can do this, but I never looked at it. I just recorded
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it. But then, yeah, got to do it and actually, blinding
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lights with, you know, this negative at the bottom and I'm like, oh,
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this is not good. So we went on to the next call and she
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explained the course and I dragged
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my husband along and I was like, do
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you want to do this? Like, if we do this, we do this together. And
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he's like, yep, look, we got to do something. And That's
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Yeah, we jumped on a call Yes, we went through some stuff together as
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you and Dan sitting there. I remember that cool. Yeah, I remember it I do Yeah, it
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was uh It was a really it was nice It's always
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nice to see couples like if you like what you said you if you're gonna do it together
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you're doing it together Yeah, so when you see a couple and they're both invested together,
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you know that everything's gonna be good because you're on joint mission
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and And they're not hiding anything from each other. They're like, they're both in it together. And
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that speaks volumes about your character too, that you, you know, you asked it
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like, hey, you doing this with me? So we're doing it, we're doing it together. That
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was a great start to everything, of course. So you now,
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you read the book. You're like, I'm ready to implement stuff. I hope
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this is going to be good. And then what transpired
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over that time? Like what things started to happen for you? What did you implement and
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do? Um, so we pretty much, well, let me
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just say before you do that, when you sit on the, on the audit,
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when you did the audit, you said a little negative, what was on
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the audit that you talked to each other about? And then
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It was costing us money every month. And
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even after we did the tax adjustments, the
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whole negative gearing thing, it's supposed to save you enough tax to then effectively
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be cash positive. It was still negative and,
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you know, my husband's not liked the idea of the properties for
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a while. And when we moved I had
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to sell one in order to buy a new house. But
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when I was talking to the property manager, we couldn't actually sell the
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second one. She was like, no one's buying. And so I
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was a bit worried but We hung on to it. We managed
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to, you know, buy a new house, move, but
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it was still obviously negative geared. And so, I mean, we had a
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tenant actually said to us, because
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we wanted to increase it by $10 a week. And
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he said, look, I've been such a good tenant. How about you reduce it by
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Oh, me neither. Anyway, he said no. We kicked him out and increased it
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by 50 for the next one. But yeah,
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that was the glaringly obvious thing. And so the first thing we actually
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did when we talked to you was to sell the
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property. So the market had changed by
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that stage. So in 12 months it had increased I think we increased
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by about 100k on that house. And
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so, yeah, we implemented all of your steps
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Well, you didn't actually do, you didn't, that's not what happened. You
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didn't implement my advice. You knew what you wanted to do already. I
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I really am just coaching you and facilitating what you already
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know. Because I remember when we spoke about it, you knew in your heart
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What you wanted to do. You're a chartered accountant. I didn't need to talk to you
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about two plus two is four. You knew. Because when
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you do this exercise, this snapshot of
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where things are at, and what you said is blindingly obvious on
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the, I know where the gaps are here that we need to
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fill, and I need to, or the holes Yes, we need to
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plug these bucket holes, the bucket holes, right? And so
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where's the hole in the ship, because a small hole can sink a big ship. And
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your hole was this property that you guys had secured. And you know, and
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property over time, particularly in Australia at this present time has grown, right?
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So assets do grow, and they do produce income. But
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what you were objectively
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trying to achieve with it, was to have some level of cash
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flow from it potentially. But as you found out, when
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you borrow the money to buy it, and the interest rate is higher than the
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Yes, and we were on an interest only loan, so... No principle. So,
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Right. So, it was all banking on capital growth. Now,
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this is a very common model in a growing real
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estate market of any country, yes? We're banking on the capital growth. A
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little bit like what happened to that margin line that you did many years ago. It's like, oh, capital,
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similar thing. So, it's all banking on growth. What happens if growth doesn't come, right?
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And so, you
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understood what had to happen. Why
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didn't you ever If you knew already, why
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didn't you change it? What was going on in your head? You're like, what
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Just the value of the house. We would not be able to pay off
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the loan before that time. And
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I was just going, right, we'll just wait it out until the
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end of like until D-Day when the
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interest only loan period was going to end.
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Oh, we considered selling it probably a year before. But
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yeah, like I said, we couldn't sell it. Like the property manager said,
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they're just not selling. And we got an offer
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that I wasn't happy with and she like lowballed me.
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And so I was like, nah, I'm just going to hang on to it. So my
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husband has been wanting to sell it forever, but I was reluctant because
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I hadn't had that capital growth. Sure. So, yes, I knew I
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had to sell it but then I was just too afraid of
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not making it back and having a loan and so... Okay.
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But at the time, you said you'd moved, your income had
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fallen, you had a small business and
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you were losing money on this property. What, even
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though you had the assets, what was happening in
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Right. And so you're living off some savings and
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the money, the delta, like the money coming
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in and the money going out was out of balance. Yes. Right.
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So your objective was to get it into balance. We
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start making more, like more money coming in than going out, which is like one
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of the most foundational principles of money. I mean, it
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is the most important. Right. And so you discovered that.
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So from that discovery, what
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We found a property manager, a real estate agent.
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Right. And you needed some encouragement. Yes. And you did
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the numbers. You knew what you knew. Yes. But you needed
17:46
A bit of like, it's going to be okay. Yeah. Like, what do you want?
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Do you want financial peace or you want to keep flattering and having financial stress
17:54
for it? Like, what do you, which one? It's like on those, you know, the notebook, bro, what
17:57
do you want? And he closes the door. She can't answer the question. Like, what
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I wanted financial freedom. I wanted relief, like
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just to, Live
18:14
Got it. Yeah. Yes. You hadn't got that because you
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Like I, I probably didn't
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look at the numbers simply because I'm like, I knew if I
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looked at it, it would be bad. So I didn't want to,
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I didn't want to even. Yeah,
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I just leave it alone and just we would, we'd be
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fine. I kept saying myself, but deep down
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Sure. Okay. Avoidance. It's a
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personal development journey when you look at your bank statements. Yes. Okay. So
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the actions you took, let's go to it. Got a real estate agent agency
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And then we, so I actually went back to the original people
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we bought the house from. And they
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put me in touch with the real estate agent. I'd had people ringing
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me all the time. Anyway, so I got
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a few quotes going, right, how much is it gonna cost me? Went with
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the cheapest marketing budget, essentially, because I'm
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like, this is just a rental property, there's no sentimental value
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in it. Like it's not a million dollar property, so I don't need a million dollar marketing
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campaign. Um, yeah, put it on the
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market. Didn't even go to open house. Like we
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got an offer day one and they
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didn't want to, they weren't available for the open house. And so
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they put in an offer and we were like, okay, let's, let's do
19:45
this. And I'm like, Lloyd, is this, what do we do? Should
19:49
I take it or do I wait? And, um, Thankfully,
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we just went, look, it's in the ballpark. And
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a real estate agent then talked
20:03
him up, negotiated a bit more. So we were able to get
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a little bit more for it. So that was really good. And yeah,
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Sold. And it's been amazing, because now I've
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got this settlement happened. And
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the cash flows come in. And so now, because we also have a business loan, that's
20:29
now sitting in the offset account. And so we're saving so
20:33
You're offsetting your business line, right? Interest. Yes. So you moved
20:36
one allocation of some equity from an asset producing negative cash flow,
20:40
moved the capital over to an offset to create some positive cash flow from the interest savings.
20:44
Yes. So you allocated capital differently. Yes. And
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as a result, what's it like day to day now with
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Oh, it's karma. So
20:59
yes, so the money coming in, so
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we still do our monthly audit and where
21:05
we go through our expenses and Like,
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I was never one to buy subscriptions and stuff like that,
21:13
but they've crept in. But we've
21:17
cut down our going out for dinner, you
21:20
know, to once a month with the kids. And so that's, you
21:23
know, helped with cash flow as well. So now we've got the
21:27
offset and I also now have free cash flow to invest. Yes!
21:31
So that redistributing of the capital monies is not only
21:36
offsetting the business loan but I also now have monthly,
21:40
I now put it into my investment so that I
21:46
Wonderful. How good. And you've learnt about investing as well, you've improved
21:50
your education? Definitely. Just quickly, if you're ready to take control
21:53
of your finances, but feel stuck on where to start, I have a
21:56
solution. My book Money Bias Happiness simplifies investing
22:00
and wealth building with practical steps to help you achieve financial peace.
22:04
Get your copy via the link in the show notes and let's get your money working for
22:11
No, not at all. So after my little debacle with
22:15
the margin loan, I was so scared of
22:19
the stock market and I'd never, I never
22:22
really understood it. So like that was really my
22:29
Yeah. I understood like, The concept of
22:32
shares being your purchasing a part of a business and I understood dividends and
22:36
things like that. But, uh, yeah, never really knew what
22:39
to buy, how to buy it or like the actual mechanism
22:43
of doing it. I'm like, do I need to call a broker? I don't know any brokers. And
22:49
So misunderstanding of it and then subsequently education and
22:54
you educated yourself through it, right? So now you understand all those things and
22:57
you understand it implicitly to do it yourself. You don't rely on anyone else.
23:02
You understand exactly what you're doing and why, and you're controlling it all
23:05
yourself, which is wonderful. And
23:14
Oh, it's exciting. I didn't even realize I'd got paid a dividend and
23:17
then I checked my account and I was like, woohoo. It was probably
23:21
only a couple of bucks, but I was like, hey, look, this is where
23:25
Yes. Every journey starts with a single step and every big tree
23:30
Little seed on a little small tree. Yeah, it's wonderful. How
23:35
does it feel to be, when you said free cash flow, this
23:38
is a wonderful word that people don't understand a lot because they don't have any. There's
23:43
cash flow, that's the money come in, money go out, but
23:46
there's free cash flow. So you're using the
23:49
free cash flow to build assets. And what are
23:52
some of the other things that you've now been able to do together, like
23:59
Oh, well, we're doing a few things to the house, which
24:03
is exciting because, you know, for the business, we need
24:07
to make some improvements. You know, we're
24:12
planning on a holiday with the kids because, you know, we just haven't
24:15
been on holiday for so long. So
24:19
we've been able to, you know, duck away for a weekend and, you know, hopefully
24:23
we'll go on a big holiday at some point. Small business
24:27
But yeah, so it's just things
24:30
like that and just being able to give back
24:34
to the kids, you know, not have to worry about scrimping
24:37
for school stuff, like they can go on their
24:41
school camps and stuff like that. And we've always been
24:45
able to do that, but you know, since moving it, like,
24:49
really through us and so it's nice
24:53
to be able to get back to just that ability and
24:57
confidence to put the
25:05
Yes. It doesn't have legs and get up and walk away and go where it wants. You send
25:10
So you've calibrated where your capital is. Yep. You've
25:13
calibrated what your loans are. You've calibrated where
25:17
that free cash flow now goes and you send it there. So you're now
25:21
Yeah. And it's really exciting to have
25:25
that control back instead of it
25:28
just like you're closing your eyes and you're hoping that it
25:32
all just works out and that you've saved enough money to
25:39
Not really. It's a strategy, isn't it?
25:45
I didn't do anything. You didn't live your life because you're
25:48
so busy saving, hoping that, you know,
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I'll just, I'll have enough money for this that you think I've just got to keep building
25:56
this asset or, you know, this bank balance. Um,
26:01
but it's not like for the future, but
26:04
then you don't live your life. So, you know, I spent all
26:12
And so I want to ask you this, when
26:18
I think it was September, maybe October last
26:22
So not even a year. No. What do you mean, seven months? Yeah. Look
26:26
at how far you've come in seven months. I always think it's longer. Seven
26:30
months, so you've recalibrated all your finances. Now, I want to ask you this because you
26:34
came through our core Five Steps Mentorship Program, which is our money
26:38
program. Then you've showcased, because you have
26:41
a business, you've showcased some elite qualities of showing
26:45
up and doing the work, which is what I love. just while you're in the studio,
26:48
but also you're now an elite student in our elite program, which is a 12-month program,
26:52
where we really cultivate some other things, which is some
26:55
areas of your behavior and leadership, self-confidence, communication,
27:01
and also business, cultivating business skills, and
27:05
making more money, and these cool things. So after
27:08
getting your finances under control, which you've done, and you're planting your money tree, you're
27:12
getting your finances under control, you're doing your audit, Yeah, you're good, right? Mindset
27:16
is good. Mindset is good. And now, you've gone to another level now because
27:19
I'm like, well, how do we get Aaron to the next? What's the next step, right?
27:23
And coming into the elite, you've done some work there. Now, I want to know from you, what
27:26
are some of the things that you've experienced or done that
27:30
you never anticipated that you would do or experience? What are
27:33
some of the benefits or wins you've achieved that you never
27:37
thought were even remotely associated with money?
27:41
Social media is a big one. I
27:45
never realised how important it is for
27:48
growing a business and being present. And
27:52
so showing up on lives and reels
27:57
and posts, I'm still getting used to that. But
28:01
yeah, that's been probably the biggest thing for me is
28:05
the importance of connecting with people and
28:08
utilizing social media as a way to actually
28:12
connect with other people. Like it's not
28:16
just, you know, friends showing off or, you know, showing
28:20
what they had for breakfast. It's a
28:23
way to communicate and really share and add
28:26
value and being able to get the message out
28:37
And what else? Because you've gone through our Mind and Money event as well, which
28:41
you recently just did. Yes. And so what are some of the personal breakthroughs
28:48
I think just the confidence to speak.
28:52
I recently did the speaker training and
28:56
I was like I don't have a message to share or
29:01
I didn't have the confidence like from
29:05
my story way back when I was a kid and on stage and
29:08
I couldn't scream when the big bad
29:12
wolf was chasing me as Little Red Riding Hood and it's
29:15
haunted me ever since. And so just that
29:18
confidence to be on stage and I'm like I could do this because
29:21
I really love mentoring people and
29:25
you know in my job I'm supporting a
29:28
whole bunch of franchisees and so just
29:32
the the ability to help pass on the knowledge
29:36
and so it's really just been a growth of understanding
29:40
and education and that confidence to share that that
29:44
message and yes social media has probably been my biggest challenge and
29:47
yet biggest breakthrough in terms of getting
29:55
And because you've learned other cool skills too like selling and marketing
30:00
Yeah, the strategies and the frameworks that
30:05
you put in place, and you make it
30:08
so simple. Like, who'd have thought that selling was
30:12
like six steps? And that's it, you know?
30:19
My money-making algorithm. Yes, you're a banana bread. I liken it to banana bread. Yes.
30:24
I love that. that really
30:28
worked for me because it was like, okay, right. So it's all
30:32
the same. And no matter which business
30:35
you're in, it's, it's the same process
30:39
that you need to go through. Just follow the recipe and,
30:43
um, and you'll get the results and
30:46
just keep doing the boring things because
30:50
it works. And then what's that saying that you have, you
30:54
know, divorced the outcome and
30:57
fall in love with the process. So I do
31:01
love that. And so, you know, instead of being focused
31:05
on, oh, I've got to think big picture, just Keep
31:08
it simple. And that's certainly one of the things I've
31:12
learned is breaking it down into little
31:15
steps, because I get overwhelmed a lot. And I'm thinking, oh, I've got
31:18
to do this and this and this. And we've got to
31:22
make our business grow massively. But it's like just
31:26
to get a lead. Just keep
31:29
it simple. Get back to basics. Get the
31:33
leads, record the leads, find out where they're coming from
31:37
and then take the next step. And so just
31:41
that taking the next step, following the process is what
31:48
Yes. And yeah, marry the process which
31:52
you're doing and divorce the outcome which you're doing. Wonderful.
31:55
Okay, so here's what I want to ask you now. What's the old money story you
32:01
that I had to work hard and
32:05
save it because I wasn't
32:09
worthy of it because other
32:14
people were better than me. So I was very much, I
32:19
didn't Self-confidence was
32:23
a big thing for me. And so it was always like, oh, that's, I
32:27
will never be rich because I'm not worthy of
32:33
I don't know. My parents worked hard,
32:37
you know, and so they worked hard and, you know, we didn't have a bad
32:41
life at all. Like we grew up, I thought, fairly well. We
32:44
weren't rich, but, you know, we had a pretty
32:48
good life and we went on holidays and things like that. And so
32:53
my thinking was that you had to work hard to get your
32:56
money and that was it. I never really had
33:00
any experience
33:04
or connections of people with businesses and so I didn't really know
33:08
the other, I lived in a bubble, like there was this whole world
33:11
out there that I didn't really understand and so I thought, oh well I'm
33:15
not, I'm not in the group and so
33:18
therefore that can't be me, like I
33:22
always felt there was something more but
33:27
I was like, oh well maybe it's, maybe it's
33:32
So the old money story is that and what would you say now for the last seven
33:36
months? What's your new one? What's the new money story you're
33:40
I can do anything. Keep it simple, follow
33:44
the process and set
33:48
yourself a target and you know, believe
33:51
in what you're doing and give
33:55
value because money
34:00
is just, money is just a vehicle. Like it's
34:03
not, It's not about making the money. It's
34:07
about exchange of value and
34:11
the money will come. And so that I
34:14
think really changed my mindset. Cause it's like, ah,
34:19
so here I am so focused on the money side of things and I want more
34:22
money, but it was like, I just need
34:25
to focus on the giving value and
34:31
What a great lesson. That is so well
34:35
articulated. Thanks. You communicate so well. I
34:39
couldn't have said it better myself. So you've learned how to conjure money out of
34:45
You're a money magician. You've learnt the art
34:48
of giving is how you get, yes? You give value
34:52
and help people solve problems, you make money. They pay you in return for
34:56
Yes, and I love solving problems, love puzzles and things like
34:59
that, so it's like, this is all working in
35:03
It's a game, and you're good at the game now. You know the rules
35:08
You know how to play the game now? Yes. Now you've just got to get better at the game as
35:12
And I've heard many years ago how you play games is
35:15
how you play life. So, now I know the rules of this game.
35:19
Yes. You know the rules of the money game. Excellent. So
35:22
I want to ask you this question to finish up. Of the
35:26
experiences you've had with shifting your
35:29
capital, making it work better for you, so becoming a better capital allocator,
35:33
right? And having encouragement and the support to
35:37
make those capital allocation decisions yourself that you knew you had to make already.
35:41
And having free cash flow and learning to put it to work to get some passive
35:45
income. and deploying some of those new skills, the money-making
35:48
recipe onto your business now, which I know you're doing to increase
35:52
the income and value of that, and your own personal
35:55
growth, too, with the breakthroughs you've had in how you're showing up
35:58
as a person, your personal confidence, how you're showing confidence here
36:02
today on the show. Out of all that, in the last seven
36:05
months, which has been amazing, what would say would
36:08
be your very best advice to our audience? What's
36:15
show up and take action. Cause even though it's hard, like
36:20
just being present learning.
36:28
Well, if you're on a call, commit and show up. So
36:32
do what you say you're going to do and show
36:36
up for yourself as well. So, uh, if
36:39
you want to do something, you have to, show
36:44
up to do, yeah, do
36:47
what you say you're going to do and set
36:52
time aside for yourself to do
36:55
those things. So yeah, show up to
36:59
the calls, show up for other people, you know, be present.
37:06
Be on there. Don't do it half-assed. Yeah. Excellent. So
37:09
show up, commit, and Outside
37:15
Be okay with being scared. Like, it's
37:19
going to be scary to do some of the things, but you've got to get outside your
37:23
comfort zone to grow. So just
37:27
do it. Like the reels and the social media stuff,
37:31
you just have to have the courage to
37:37
do the hard things and just, it only takes, you
37:41
know, a moment or whatever it is, you know, you only need
37:44
courage for a few minutes or a few seconds to
37:51
Yeah, take messy action, which you've been so good at. Is
37:54
this the first podcast episode you've ever done? Yes. And look at you go.
37:58
I know. Taking action, not even messy. Scared
38:01
as hell. You're scared now? Yeah. You don't look scared. So
38:05
you had a little bit of courage, growing yourself. Your money's in
38:10
Amazing. Yeah, I'm excited to grow our
38:14
business, that I can teach
38:17
other people like mentor other
38:20
people and grow our business and give them opportunities and
38:24
also mentor some my franchisees
38:28
as well. So like I, the
38:32
future looks like inspiring others is what I would
38:36
Lovely. I love it. You've invested in yourself. Now you get to help others. And
38:39
so do you feel like mentoring has been an effective approach for
38:50
Because you can connect with them and they
38:53
help you take messy action and put
38:57
you on a path that you may not
39:00
want to go down, but in your heart of hearts, you know, that's the right
39:05
Then you just have to do it. Whether you like it or not. Just
39:10
give it a go. Because if you don't give it a go, you'll never
39:13
know. And I don't want to live in regret going,
39:17
oh, well, what if I did this? So, yeah, it's been
39:21
good to connect with the right person. And
39:24
you've been a great mentor because you keep it real. So
39:30
there's no ifs, buts or maybes. It's like right down to
39:34
earth, no beating around the bush. So right.
39:38
And you're like, I just need to kick up the pants sometimes. Someone
39:42
who can do that and have a bit of fun along the way. Yeah.
39:48
Yeah, totally. Well, look at you now. You're sitting here. Yeah. The other day, you didn't know
39:53
Here you are. Last night into the studio. No
39:57
prep. Living the dream. You are. It's funny. It's
40:00
like you've never driven so much in your life because you come down for events all the time and
40:05
Well, I was saying, I think it was meant to be that I moved because,
40:09
you know, if I was still down South, like this
40:12
would be a 16 hour drive every day. And I feel like I
40:16
should buy a house at the Gold Coast or at least rent a room.
40:20
I feel like I'm here every weekend. Actually, a lot of them have moved here.
40:24
Yeah, yeah, yeah. So I should probably get a tax for a revenue share
40:28
for the city, bringing people here. Look, it's really interesting that
40:31
you mentioned that because it's in the book too, Pet Proximity. And you've
40:34
moved and you've had some proximity and you're here and you've got more proximity. And
40:38
proximity is power. You're learning because mentor once
40:41
taught me, he said, Lloyd, success is
40:45
sometimes something you've got to catch. like
40:48
a virus, you've got to be around it to catch it. And so that's what
40:52
I feel like you've been able to do a lot of lately as well. You're catching it, you
40:58
Yeah. And in-person is so much better. Zoom
41:02
and, you know, online calls has really enabled or
41:09
facilitated being able to learn so much, but
41:14
Yeah. Both is perfect, right? Yeah. Yeah. But online, we've
41:19
So having a bit of both is good because you can do it in the comfort of your own
41:24
But yeah, being able to connect with people and
41:28
exchange energy in person, it's
41:32
quite amazing. And, you know, surrounding yourself with the
41:36
right people and meeting so many other like-minded people,
41:40
It is. Well, I'm very excited to watch you grow. It's been seven months. I
41:44
love working with you. You're so action-oriented and
41:48
you're fun and you don't take things too seriously, but then you do, which
41:51
is good. And I'm really excited to see what the next seven months is going to
41:54
hold for you. There's greatness in you. You're going to cultivate a great and
41:58
even greater business, make more money, get your investments under control.
42:01
You know what it is. The other stuff you don't have to depend on anyone but
42:04
you and no one's going to love your money more than you. And I'm
42:08
just excited to watch you grow. So thanks so much for dropping in after
42:11
the event last night. And yeah, if you want to
42:20
The old Facey. Erin Moss. Erin Moss. Okay. And
42:23
so go follow Erin. Follow her journey. Yeah. Go give
42:27
her some love on her post and so forth. And if you see one
42:30
of her ads pop up, engage. And yeah, watch
42:41
We will. Thanks for coming on the show. All right. Thanks, Lloyd. Thanks, Erin. Hit
42:44
the subscribe button, follow us, share this with a friend. If
42:48
you know someone who's like, Erin's a flippin' chartered accountant. If you
42:51
aren't a chartered accountant, she knows how to count numbers and
42:54
she's still here. So, share the episode. It's a really cool episode.
42:58
I loved it so much. Thanks for dropping by and I'll see you guys in the next episode of the Money Grows From
43:01
Cheese podcast. Thanks for listening to Money Grows on Trees. If
43:04
you enjoyed the episode, leave a five-star review on Apple Podcasts and
43:08
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43:11
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43:15
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