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Would You Buy Property With a Partner After 8 Months? She Did! · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
• 0:04
  Speaker 1: the Order Kerni Whaltbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 2: Hello, and welcome to She's on the Money, the podcast
• 1:00
  Speaker 2: that it lets you be pervy on other people's money
• 1:02
  Speaker 2: habits for educational purposes of course. Welcome back to another
• 1:06
  Speaker 2: one of our money diaries where I get the absolute
• 1:09
  Speaker 2: pleasure of talking to one of our She's on the
• 1:10
  Speaker 2: Money community members all about their money story and journey.
• 1:14
  Speaker 2: Let's jump straight into it, because this week I got
• 1:16
  Speaker 2: an email and it sounded exactly like this, Dear, She's
• 1:20
  Speaker 2: on the Money. Money has been a journey. We've had
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  Speaker 2: some wins, some losses and a whole lot of learning
• 1:25
  Speaker 2: along the way. I've felt multiple streams of income, taken
• 1:29
  Speaker 2: risks on businesses, some that worked, some that didn't, and
• 1:32
  Speaker 2: climbed the ranks. In my career, property has been a
• 1:35
  Speaker 2: big part of our story, buying, selling, renovating, and navigating
• 1:38
  Speaker 2: the unexpected. Now we're at a crossroad, a potential new investment,
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  Speaker 2: big decisions ahead, and the usual mix of excitement and uncertainty.
• 1:47
  Speaker 2: It's never a straight path, but here we go again,
• 1:51
  Speaker 2: money diarist, You've left a lot to the imagination. Like,
• 1:55
  Speaker 2: I just have so many questions, but this is so exciting,
• 1:58
  Speaker 2: Like you can't just I have multiple streams of income.
• 2:02
  Speaker 2: I'm like what what income?
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  Speaker 4: Like?
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  Speaker 2: When? Why? How? Property? You're doing it again? Doing what again?
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  Speaker 2: Like I just have a lot of questions. Welcome to
• 2:11
  Speaker 2: the show.
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  Speaker 4: Thank you for having me.
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  Speaker 2: How fun? All right, let's dive straight in. The first
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  Speaker 2: question I ask all of our money diarists is if
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  Speaker 2: I could ask you to give yourself a money grade
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  Speaker 2: from A three to air for what would that grade be?
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  Speaker 4: I think probably I'm going to say it BNUS.
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  Speaker 2: Okay, let's learn more about that. Can you now dive
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  Speaker 2: in and tell me a bit more about your money story,
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  Speaker 2: because I when I read this, I was like, she's
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  Speaker 2: got to be kidding. I need so much more information
• 2:39
  Speaker 2: right now.
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  Speaker 4: Sure, So, I guess growing up my parents were business owners,
• 2:46
  Speaker 4: either like running businesses or owning businesses, So that's sort
• 2:50
  Speaker 4: of what I've always known growing up. My mom is
• 2:53
  Speaker 4: one of six, and so we have a lot of cousins,
• 2:55
  Speaker 4: and my sister and I are the first two of
• 2:58
  Speaker 4: the cousins to get a church education. So that was
• 3:02
  Speaker 4: something that was I'm not going to say forced upon me,
• 3:04
  Speaker 4: but my mum really stressed the importance of getting an
• 3:07
  Speaker 4: education and being able to earn the best income possible.
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  Speaker 4: And I'm so grateful because in my first year of UNI,
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  Speaker 4: I really wanted to drop out, and she said, no,
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  Speaker 4: I think you really need to give it more than
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  Speaker 4: six weeks.
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  Speaker 2: That's fair Mom.
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  Speaker 4: Yeah, thanks, Mom, always with the advice. So yeah, when
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  Speaker 4: I got my degree, started working in it soon after,
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  Speaker 4: and then I've been working in it since I was
• 3:32
  Speaker 4: in twenty twelve, so it's been for about thirteen years now.
• 3:36
  Speaker 4: Along the way that my husband in around there, so
• 3:39
  Speaker 4: in twenty fourteen, so I was pretty new to my
• 3:42
  Speaker 4: career when we.
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  Speaker 2: Met oh, did you meet through your career?
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  Speaker 4: No, no, we Actually I've heard you say this before.
• 3:48
  Speaker 4: He and I met on Tinder.
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  Speaker 2: Yep, same same same queen where all the good men
• 3:52
  Speaker 2: used to be.
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  Speaker 4: I mean, I used to be so embarous about that.
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  Speaker 2: Oh oh my god, it's same. I told my parents
• 3:58
  Speaker 2: when I was finally bringing same time. I was like,
• 4:00
  Speaker 2: we met three friends. I'm friends with the internet, right, and.
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  Speaker 4: I know, so like, oh, we were introduced by a
• 4:05
  Speaker 4: friend of a friendly because I don't want to say
• 4:06
  Speaker 4: were met on Tinder, because I.
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  Speaker 2: Was like, oh yeah, And you know what, it got
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  Speaker 2: to a point where I hadn't told a lot of
• 4:11
  Speaker 2: people and then people stopped asking, right, They're like, oh,
• 4:13
  Speaker 2: Stephen Victoria, no worries. I ended up telling my parents.
• 4:16
  Speaker 2: But then it comes to my wedding and I had
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  Speaker 2: told the celebrant that we met on Tinder and she
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  Speaker 2: makes the comment in her like introduction of the two
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  Speaker 2: of us, and she was like it was the right
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  Speaker 2: swipe or something, and I was like, oh, no, you
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  Speaker 2: did not, but that was really funny. Anyway, that's all right.
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  Speaker 2: I'd been talking about it on the internet for ages.
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  Speaker 4: Okay, true, So yeah, he's a tradee and when we met,
• 4:40
  Speaker 4: he was working five layout so he used to do
• 4:43
  Speaker 4: four weeks on one week off, which was that's a lot,
• 4:46
  Speaker 4: so difficult when you're in a new relationship. And when
• 4:50
  Speaker 4: we met, he was looking for a house to buy
• 4:53
  Speaker 4: because he had like all this excess income and needed
• 4:56
  Speaker 4: to do something with it. And I certainly wasn't in
• 4:58
  Speaker 4: the same sport.
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  Speaker 2: Yeah you're like, that's unrelatable, but sure, oh.
• 5:04
  Speaker 4: Yeah, I was meanning much much less. But we after
• 5:08
  Speaker 4: about eight months together, we decided we would buy the
• 5:10
  Speaker 4: house together, which is looking back, sounds so crazy, but
• 5:13
  Speaker 4: you know, if you know, you know.
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  Speaker 2: Look, I'm the same. We moved in together at like
• 5:17
  Speaker 2: the twelve month mark, and I was like, well, yeah, whatever,
• 5:21
  Speaker 2: it is what it is.
• 5:22
  Speaker 4: So he had obviously significantly more money stage than me,
• 5:25
  Speaker 4: but we decided to buy it together because I was
• 5:27
  Speaker 4: just I'm sure how we were going to navigate. Am
• 5:30
  Speaker 4: I going to live with you? Will I pay you rent?
• 5:33
  Speaker 4: Who pays what? And it just seemed way easier to
• 5:35
  Speaker 4: just put our finances together. And I said to him,
• 5:38
  Speaker 4: you know, our borrowing capacity is going to be much
• 5:40
  Speaker 4: higher if we do it together. So we decided to
• 5:43
  Speaker 4: do it together. Not only that, when we put an
• 5:46
  Speaker 4: offer in the house that we bought, he was away
• 5:49
  Speaker 4: on a four week swing, so he hadn't actually seen
• 5:52
  Speaker 4: the house when we contracted it.
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  Speaker 2: Oh my goodness.
• 5:55
  Speaker 4: So the Ultimate trusted me to be like, you know,
• 5:58
  Speaker 4: if you think this is it, then let's do it.
• 6:00
  Speaker 4: So we bought that house. That's so stressful, so stressful
• 6:03
  Speaker 4: for us, both because there's a lot of pressure on me.
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  Speaker 2: I did that with a rental property once with my
• 6:07
  Speaker 2: now husband, and the anxiety I felt over a rental property,
• 6:12
  Speaker 2: Like I cannot imagine how stressed you were. You're like, yeah,
• 6:15
  Speaker 2: so I tipped your life savings over here.
• 6:17
  Speaker 4: You're right with this, that's okay.
• 6:19
  Speaker 2: If you don't like it, bad luck.
• 6:22
  Speaker 4: Yeah, it's going to be awkward. But anyway, we settled
• 6:26
  Speaker 4: when we moved in, and we probably lived there for
• 6:30
  Speaker 4: I want to say shore and a half years before
• 6:32
  Speaker 4: we kind of thought this isn't quite right in terms
• 6:36
  Speaker 4: of sometimes you just don't know until you live in
• 6:38
  Speaker 4: a property whether it's right for you or not.
• 6:39
  Speaker 2: Yeah, one hundred percent.
• 6:40
  Speaker 4: And it just wasn't quite right. A great house, good bodes,
• 6:43
  Speaker 4: but just not quite right for what we wanted. So
• 6:46
  Speaker 4: we went overseas on a troop and got engaged.
• 6:49
  Speaker 2: That cute. A tender love story.
• 6:54
  Speaker 4: Oh, the tender love story. When we got back, we
• 6:57
  Speaker 4: found another house just around the corner from our current house,
• 7:00
  Speaker 4: and I just went and looked at it on a
• 7:02
  Speaker 4: whim at an open home and I fell in love
• 7:04
  Speaker 4: and I had to persuade them fiance that it was
• 7:09
  Speaker 4: the right house for us. I finally got hit over
• 7:12
  Speaker 4: the line, but it was significantly more expensive, so we
• 7:15
  Speaker 4: had to do a simultaneous settlement so that we had
• 7:18
  Speaker 4: the funds to pour into the next property. And then
• 7:22
  Speaker 4: we found a tenant for our first property and moved
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  Speaker 4: into the second property.
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  Speaker 2: How cool.
• 7:27
  Speaker 4: It was really cool, And I was like, well, I
• 7:30
  Speaker 4: can't believe we just found my dream house at like
• 7:31
  Speaker 4: twenty five years old.
• 7:33
  Speaker 2: How good.
• 7:34
  Speaker 4: It was quite a big home, and we intended on
• 7:37
  Speaker 4: filling it with children, and then we sort of ran
• 7:41
  Speaker 4: into some unforeseen fertility issues where that just wasn't really happening,
• 7:47
  Speaker 4: and being in the house sort of reminded me of
• 7:50
  Speaker 4: what wasn't happening.
• 7:51
  Speaker 2: So oh, that's so stressful and so shitty, Like you
• 7:55
  Speaker 2: don't need your home to be that reminder I know, and.
• 7:59
  Speaker 4: It was just like, oh, this is the time that
• 8:01
  Speaker 4: we had played family, but now we might not get one.
• 8:04
  Speaker 4: Also it was like significantly more expensive. And sorry I've
• 8:07
  Speaker 4: missed a step. In a months that the tenants that
• 8:09
  Speaker 4: were living in our first property trashed it.
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  Speaker 2: Ah, and you're going through all this stuff and like fertility,
• 8:15
  Speaker 2: we should talk about it more. But like when you're
• 8:17
  Speaker 2: going through this, you wouldn't have been telling people. It
• 8:19
  Speaker 2: would have been like this secret struggle. Like and then
• 8:22
  Speaker 2: someone trashes your property, You're probably like, I'm going to
• 8:24
  Speaker 2: trash you, like that's right.
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  Speaker 4: And ultimately I had to go to Qecat, which is
• 8:30
  Speaker 4: the Queensland to get them out of the property because
• 8:34
  Speaker 4: they refused to leave.
• 8:36
  Speaker 1: Jeez, Luise, they stopped paying rent, they trashed the property.
• 8:39
  Speaker 4: So when they finally got out, it was like a
• 8:41
  Speaker 4: big money here. Really, Oh my god.
• 8:44
  Speaker 2: I actually just can't fathom how people do that, Like
• 8:47
  Speaker 2: I just it is unimaginable to me. Like I'm the
• 8:50
  Speaker 2: type of person who goes around my hotel room as
• 8:52
  Speaker 2: I'm leaving and picks up the towels because I'm so
• 8:54
  Speaker 2: worried that they're going to be Like she left the
• 8:56
  Speaker 2: towels on me ground and the idea that you trash
• 9:00
  Speaker 2: someone's house like, absolutely not.
• 9:02
  Speaker 4: I know. So at that time, we're having like quite
• 9:06
  Speaker 4: a few issues, and then I just said to my husband,
• 9:08
  Speaker 4: let's just get rid of this house. If we're not
• 9:11
  Speaker 4: going to have kids, let's go traveling. So we're going
• 9:13
  Speaker 4: to sell our house. We're going to sell our rental
• 9:16
  Speaker 4: or whatever money was left, go on a trip. Enter
• 9:20
  Speaker 4: COVID nineteen. We're not going anywhere.
• 9:23
  Speaker 2: You stuck at home.
• 9:25
  Speaker 4: We're stuck at home in this house that we don't
• 9:28
  Speaker 4: want to be in anymore. So anyway, I was like,
• 9:32
  Speaker 4: let's go ahead, whatever someone this house is perfect for someone,
• 9:35
  Speaker 4: let's sell it. And we ended up selling it. I
• 9:37
  Speaker 4: did the whole show. We didn't get a real estate agent.
• 9:40
  Speaker 4: I did all the open homes, I did the listing.
• 9:42
  Speaker 2: Oh my god, what was that like?
• 9:45
  Speaker 4: It was kind of chaotic. Fuck, even when I do
• 9:47
  Speaker 4: for work, I was okay with it.
• 9:48
  Speaker 2: Yeah, okay, but.
• 9:49
  Speaker 4: Yeah, it saved us a ton on real estate commission,
• 9:52
  Speaker 4: don't you know, Like I don't recommend it's pretty stressful,
• 9:55
  Speaker 4: but it did save us as time and at the
• 9:57
  Speaker 4: time it worked for us.
• 9:58
  Speaker 2: Yeah. Cool.
• 9:59
  Speaker 4: We ended up that house.
• 10:01
  Speaker 2: So I need to backtrack. I need to backtrack. I
• 10:03
  Speaker 2: have to ask, so you decided to do all of this?
• 10:05
  Speaker 2: Did you need any licenses? Or you can just put
• 10:07
  Speaker 2: your house on the market just DIY.
• 10:09
  Speaker 4: You can do that yourself. There's a few companies that do,
• 10:12
  Speaker 4: and it's like, sell my home and they help you
• 10:15
  Speaker 4: with like real estate packages and your paying amounts to
• 10:17
  Speaker 4: them for photos and that type of thing.
• 10:19
  Speaker 2: Yeah, perfect, okay, all right, Yeah, I was like, what
• 10:22
  Speaker 2: about the contracts? What about when you find a buyer?
• 10:24
  Speaker 2: I wouldn't even know how to sell my house with
• 10:26
  Speaker 2: the contracts.
• 10:27
  Speaker 4: Again, because of what I do for work, I was
• 10:28
  Speaker 4: comfortable with that, but I except that not everybody is.
• 10:31
  Speaker 2: Yeah, okay, so proceed with caution.
• 10:33
  Speaker 4: Yes, correct, that's my bus. So we sold that house
• 10:36
  Speaker 4: and we pretty much just sold it for what we
• 10:38
  Speaker 4: brought it for because no one really wanted to spend money.
• 10:41
  Speaker 2: You just wanted to get rid of it as well.
• 10:43
  Speaker 4: Absolutely, and I was just happy to break even and
• 10:46
  Speaker 4: call it a day. We sold our other property for
• 10:49
  Speaker 4: more than we bought it for, so we made a
• 10:51
  Speaker 4: little bit on it. After we cleaned it up and
• 10:54
  Speaker 4: renovated it. We just did like a cosmetic renovation enough
• 10:57
  Speaker 4: to sell it, and we made a little bit of
• 10:59
  Speaker 4: money in it. And then we also came into a
• 11:02
  Speaker 4: little bit of money at that time which we hadn't
• 11:04
  Speaker 4: able to put towards traveling obviously not happening. So then
• 11:09
  Speaker 4: once we sold all these properties, my husband's like, where
• 11:12
  Speaker 4: are we going to go? He's legend a queen's later
• 11:14
  Speaker 4: his whole life, So a big timber home with a
• 11:17
  Speaker 4: beautiful deck, etcetera, ETCeteras his dream. He finds this queen's
• 11:21
  Speaker 4: lander in this dream suburb.
• 11:23
  Speaker 2: That's so good.
• 11:24
  Speaker 4: He's like, well, we've got all this cash and we're
• 11:27
  Speaker 4: not going anywhere. Should we do it? And yeah, we
• 11:31
  Speaker 4: ended up doing it. Luckily we bought and a really
• 11:34
  Speaker 4: black we're so fortunate to afford in the market that
• 11:36
  Speaker 4: we bought in where house prices were significantly lower than
• 11:40
  Speaker 4: they are now. So yeah, we bought for three hundred
• 11:44
  Speaker 4: and seventy five.
• 11:44
  Speaker 2: Thousand, Oh my goodness.
• 11:46
  Speaker 4: Yeah. And then because my husband's a jack of all trades,
• 11:49
  Speaker 4: master of some not all, we were able to do
• 11:53
  Speaker 4: a pretty decent sized reno on the house, a lot
• 11:57
  Speaker 4: of him doing it himself. So that's it does a
• 12:00
  Speaker 4: heap of money. So since the renovation, we had our
• 12:03
  Speaker 4: house valued recently and it was valued at nine hundred
• 12:06
  Speaker 4: and fifty value it sorry, what I know, crazy?
• 12:11
  Speaker 2: Nine fifty from what three eighty five b for real?
• 12:14
  Speaker 4: Three seventy five?
• 12:15
  Speaker 2: I know, three seventy five no illegal?
• 12:18
  Speaker 4: So good. Gave my husband a huge head about how
• 12:21
  Speaker 4: his skills.
• 12:22
  Speaker 2: Oh yeah, well do you know what. Let him keep
• 12:23
  Speaker 2: that because like, next time you want to renovate something,
• 12:25
  Speaker 2: you be like, but you're so good at it. Remember
• 12:27
  Speaker 2: how you did that? Yeah, just you let him keep that.
• 12:30
  Speaker 4: So we have quite a bit of equity in our home.
• 12:32
  Speaker 4: And because we applied some of that money that we
• 12:35
  Speaker 4: made from our first investment property and some of the
• 12:37
  Speaker 4: way that we came into our mortgage was pretty low.
• 12:39
  Speaker 4: So we only owe four hundred thousand on our house
• 12:43
  Speaker 4: and we borrowed some to do the renovation. So yeah,
• 12:47
  Speaker 4: we owe four hundred thousand, it's worth nine fifty.
• 12:50
  Speaker 2: That's so good.
• 12:52
  Speaker 4: And we don't really have any other debts. We did
• 12:54
  Speaker 4: have a small Carlo and that we just paid off.
• 12:57
  Speaker 2: Yeah.
• 12:57
  Speaker 4: Cool.
• 12:58
  Speaker 2: And so now you're thirty four, So it's kind of
• 13:00
  Speaker 2: like a nearly ten year journey of like buying your
• 13:02
  Speaker 2: first property and like going in and around and like,
• 13:06
  Speaker 2: I feel like you're in a great position now. I've
• 13:08
  Speaker 2: just got a few questions and I hope they're not
• 13:10
  Speaker 2: too pervy. You did mention, look, we had some fertility issues.
• 13:14
  Speaker 2: Is that something that you're like, okay, cool, Like we
• 13:16
  Speaker 2: just decided that we're just not having kids, and now
• 13:19
  Speaker 2: you're it's just the two of you and you're trying
• 13:21
  Speaker 2: to work out what life looks like moving forward or
• 13:24
  Speaker 2: what's the go there.
• 13:25
  Speaker 4: No, so we were lucky enough to I found an
• 13:28
  Speaker 4: amazing doctor in my hometown who helped me or helped
• 13:33
  Speaker 4: us through that fertility journey. And we've now got two
• 13:35
  Speaker 4: little boys.
• 13:36
  Speaker 2: Ah, they are good. And do you know what, I think?
• 13:39
  Speaker 2: It's so beautiful hearing stories like that you were so
• 13:42
  Speaker 2: down in the dumps about it that you literally sold
• 13:44
  Speaker 2: your house because you didn't want to be there because
• 13:46
  Speaker 2: it was a reminder of the fact that you weren't
• 13:47
  Speaker 2: having a baby. And then now you have two babies
• 13:50
  Speaker 2: in your now probably even more dream home.
• 13:53
  Speaker 4: Absolutely, and they're like, honestly the best thing I ever did.
• 13:57
  Speaker 4: So I'm so glad that we were able to get that.
• 13:59
  Speaker 2: Oh, oh my God, I'm so excited to hear like
• 14:02
  Speaker 2: that's literally the best. Like ah, I was like, do
• 14:05
  Speaker 2: I ask? Don't I ask? And then I was like,
• 14:07
  Speaker 2: hold on, earlier we're talking about daycare. I know that
• 14:11
  Speaker 2: this woman has kids, so good, all right, I need
• 14:16
  Speaker 2: to now know what do you do for work? How
• 14:18
  Speaker 2: much money are you earning?
• 14:19
  Speaker 4: So I am a lawyer and I earn about one
• 14:22
  Speaker 4: hundred and twenty thousand.
• 14:23
  Speaker 2: Cool, very cool. And when it comes to being a lawyer,
• 14:28
  Speaker 2: are you in property law because you told me that
• 14:30
  Speaker 2: you understood the contracts or is that just a benefit
• 14:32
  Speaker 2: of being a lawyer, like you just get to understand
• 14:34
  Speaker 2: all of it.
• 14:35
  Speaker 4: Well, I mean it's somewhat a benefit. I don't profess
• 14:38
  Speaker 4: to be an expert of property, but I did at
• 14:40
  Speaker 4: the start of my career. I did a lot of
• 14:42
  Speaker 4: conveyancing and.
• 14:43
  Speaker 2: Cool and more so, you're fine.
• 14:46
  Speaker 4: It was subject matter that I felt comfortable with.
• 14:48
  Speaker 2: Oh how good. I don't want to be too pavy.
• 14:51
  Speaker 2: But is your husband on a similar income?
• 14:53
  Speaker 4: Our hands quite a bit more than me. So he's
• 14:56
  Speaker 4: on about one hundred and fifty.
• 14:59
  Speaker 2: Thousand and he's still doing five fox.
• 15:01
  Speaker 4: No, he doesn't do and what he works into town,
• 15:03
  Speaker 4: so I know he'd never worked away from our voice, So.
• 15:06
  Speaker 2: Yeah, how good. I was going to be like his
• 15:08
  Speaker 2: fIF ox really hard steal, Like, what's that look like?
• 15:10
  Speaker 2: That's so nice to have that income and not have
• 15:12
  Speaker 2: to do fifo.
• 15:13
  Speaker 4: Absolutely, and he's pretty high up in his area now.
• 15:17
  Speaker 2: So yeah, you've said obviously fertility was a big part
• 15:20
  Speaker 2: of it, and I'm sure for a while there that
• 15:22
  Speaker 2: was a pretty big money goal, especially because you said
• 15:25
  Speaker 2: you had to find a very probably expensive fertility doctor.
• 15:29
  Speaker 2: You've bought and sold your dream property, You've then bought
• 15:31
  Speaker 2: another beautiful Queenslander, and you're sitting on a very nice
• 15:34
  Speaker 2: amount of equity. What are your big money goals? What
• 15:38
  Speaker 2: are you currently working towards? Because I feel like for
• 15:40
  Speaker 2: a lot of like people listening to this are going
• 15:42
  Speaker 2: to be like, she's achieved all the things that were
• 15:44
  Speaker 2: my money goals.
• 15:45
  Speaker 4: Oh look, the list of goals are endless. But at
• 15:48
  Speaker 4: the moment, there is a house in our street is
• 15:51
  Speaker 4: actually right next door to us, another Queen's Lander. Oh
• 15:54
  Speaker 4: my god, my husband and I I guess really really
• 15:57
  Speaker 4: want to buy it. We used to have really lovely
• 16:00
  Speaker 4: neighbors there. It was brought by an investor and it's
• 16:03
  Speaker 4: just like been pretty like renters in and out, changing
• 16:06
  Speaker 4: over very frequently, and we would love to buy it
• 16:09
  Speaker 4: and neither let's be in control of who's renting it,
• 16:13
  Speaker 4: or do something like an airbnb sort of setup.
• 16:16
  Speaker 2: Oh hey, that would be cool, wouldn't it, Especially being
• 16:19
  Speaker 2: next door you could do all the turnovers yourself.
• 16:21
  Speaker 4: Absolutely.
• 16:22
  Speaker 2: Oh, she's savvy and that would be like an investment
• 16:25
  Speaker 2: property for you guys.
• 16:26
  Speaker 4: Maybe, yes, correct, I'm into the spreadsheet so I've had
• 16:30
  Speaker 4: to look at it all. Yeah.
• 16:31
  Speaker 2: Love, tell me a bit more about this travel goal
• 16:34
  Speaker 2: of yours because it was sidelined because of COVID. But
• 16:37
  Speaker 2: if you were buying and selling during COVID, I'm just
• 16:40
  Speaker 2: doing some maths, and then you had two kids, I
• 16:42
  Speaker 2: don't know when you fit that travel in. Did that
• 16:44
  Speaker 2: ever happen?
• 16:45
  Speaker 1: In?
• 16:45
  Speaker 2: Is it a goal?
• 16:46
  Speaker 4: It's still definitely a goal. Probably the length and destination
• 16:53
  Speaker 4: slightly different with two small children. But we're actually going
• 16:57
  Speaker 4: overseas in August this year and taking both our boys,
• 17:00
  Speaker 4: so we're super excited about that.
• 17:02
  Speaker 2: Oh exciting, where are you going?
• 17:04
  Speaker 4: Where going to Japan?
• 17:05
  Speaker 2: Oh my gosh, how good?
• 17:07
  Speaker 4: We're really excited.
• 17:08
  Speaker 2: And the weather over there at that time of year
• 17:10
  Speaker 2: will be gorgeous.
• 17:11
  Speaker 4: Well, it'll be very similar to where we are in Queensland,
• 17:15
  Speaker 4: so I think we'll be used to. Everyone says it's
• 17:17
  Speaker 4: too hot, but I think will be fine.
• 17:18
  Speaker 2: But you're from Queensland. No, you're fine, You're absolutely fine.
• 17:21
  Speaker 2: I go to Queensland and I think it's too hot,
• 17:23
  Speaker 2: so I have no chance in August in Japan.
• 17:27
  Speaker 4: I mean, you're probably right, but we are used.
• 17:29
  Speaker 2: To it, right, It's like the frog in the boiling
• 17:31
  Speaker 2: pot of water, like you just get used to it.
• 17:34
  Speaker 4: You absolutely do.
• 17:36
  Speaker 2: I love that. All right, let's go to a really
• 17:38
  Speaker 2: quick break and on the flip side, I actually have
• 17:40
  Speaker 2: a lot of questions for you, so guys, don't go anywhere,
• 17:47
  Speaker 2: all right, money, dirist. We are back and we are
• 17:49
  Speaker 2: talking about your journey mainly in property, which has been
• 17:52
  Speaker 2: really cool. You've clearly made some good money. I mean
• 17:55
  Speaker 2: it's not cash in your hands, but you're sitting on
• 17:57
  Speaker 2: some really nice equity inside the property that you're currently in.
• 18:02
  Speaker 2: And I would say, as much as it's your family home,
• 18:04
  Speaker 2: I can see that you're seeing it as an investment.
• 18:06
  Speaker 2: And we've just been talking about you potentially purchasing the
• 18:10
  Speaker 2: house next door to you as an investment, and I'm
• 18:13
  Speaker 2: assuming that you're probably going to use some of the
• 18:15
  Speaker 2: equity in the house that you're currently even to get
• 18:17
  Speaker 2: into that property. But talk to me about your thoughts
• 18:21
  Speaker 2: on investments, like what investments do you hold, what's the plan,
• 18:24
  Speaker 2: what does the future look like?
• 18:26
  Speaker 4: So I guess other than like acid ranuation and I
• 18:32
  Speaker 4: salary sycrifice into my super very sexy and my husband
• 18:37
  Speaker 4: does the same, it's just a little amount by every
• 18:39
  Speaker 4: dollar counts. We don't have like an investment portfolio per se.
• 18:45
  Speaker 4: So that is something that we've talked about, and we
• 18:48
  Speaker 4: have gone back and forward about whether that's in property
• 18:52
  Speaker 4: or whether we want to have a share portfolio something similar.
• 18:56
  Speaker 4: My husband's rationale is that if we buy property, we
• 18:59
  Speaker 4: have something down to our kids because they might never
• 19:02
  Speaker 4: be able to get into real estate.
• 19:05
  Speaker 2: Very valid.
• 19:06
  Speaker 4: That's sort of why we've been looking at the house
• 19:08
  Speaker 4: in store and other properties and investment properties and thinking
• 19:11
  Speaker 4: about how we could use those to have an income stream.
• 19:16
  Speaker 4: But I am still interested in just having a small
• 19:19
  Speaker 4: share portfolio. So I did, after listening, actually downloaded some
• 19:23
  Speaker 4: of the apps that you are good recommend it, and
• 19:26
  Speaker 4: I just had some small amounts in there that are
• 19:28
  Speaker 4: just sitting there, not really doing anything. So I started,
• 19:31
  Speaker 4: but I would have said that we're.
• 19:32
  Speaker 2: Deep in dipping our toes in the water. I love that.
• 19:36
  Speaker 2: What made you want to salary sacrifice more to your superannuation?
• 19:39
  Speaker 4: Well, my employer pays over and above what they're required to,
• 19:44
  Speaker 4: but they will only do that if we meet the
• 19:47
  Speaker 4: percentage over and above the standards.
• 19:50
  Speaker 2: So you're like, no brainer, free money.
• 19:52
  Speaker 4: Yeah, I had a low plus sacrifice three percent and
• 19:55
  Speaker 4: they give me an extra three percent.
• 19:56
  Speaker 2: So excuse me. I would like to go back to
• 19:59
  Speaker 2: full time and play if that's the case. Like, that's
• 20:02
  Speaker 2: a good deal.
• 20:03
  Speaker 4: So good.
• 20:03
  Speaker 2: So is your super looking incredibly healthy at this point?
• 20:07
  Speaker 4: I think it's okay. I mean, early days in my career,
• 20:10
  Speaker 4: I was not earning all that much, so what I
• 20:12
  Speaker 4: was adding to my super was not that great. It's
• 20:16
  Speaker 4: definitely improved the further I've gone to my career. But
• 20:19
  Speaker 4: also I've been on two stints of maternity leave, so
• 20:23
  Speaker 4: there's been times where I haven't been earning. But it's
• 20:25
  Speaker 4: currently sitting at about one hundred and thirty thousand.
• 20:27
  Speaker 2: Oh, you are doing well. You are fine. That is good,
• 20:30
  Speaker 2: But like I think that that's the way for a
• 20:33
  Speaker 2: lot of women who have invested a lot of time
• 20:36
  Speaker 2: in tertiary study and then you know, probably taking on
• 20:39
  Speaker 2: grad jobs and then working your way up, like it
• 20:41
  Speaker 2: does take a bit, and then you start earning a
• 20:44
  Speaker 2: lot and then I think employeers know that, and that's
• 20:46
  Speaker 2: why sometimes obviously really great benefit is having additional super
• 20:50
  Speaker 2: but I think a lot of them know like, oh,
• 20:52
  Speaker 2: we probably should kick this up a little bit for them,
• 20:55
  Speaker 2: because most of them are going to be behind. So
• 20:57
  Speaker 2: that is I would like to say, kind of them.
• 20:59
  Speaker 2: But it's also a very good employment benefit. So tell
• 21:03
  Speaker 2: me a bit more about debt. You mentioned before. You
• 21:06
  Speaker 2: currently owe four hundred thousand dollars on your property at
• 21:10
  Speaker 2: the moment, and it's worth nine fifty, which is a
• 21:13
  Speaker 2: money win. Do you have any other debt?
• 21:15
  Speaker 4: We have a credit card that's probably not like I
• 21:19
  Speaker 4: just booked accommodation for Japan, so it's probably got like
• 21:22
  Speaker 4: eight hundred dollars.
• 21:23
  Speaker 2: Yeah. Cool. And how do you feel about debt? Like
• 21:26
  Speaker 2: is that something that when you were taking on your
• 21:29
  Speaker 2: mortgage was that stressful or you're like, oh no, I
• 21:31
  Speaker 2: get it, Like it's fine, Like I'm not worried.
• 21:34
  Speaker 4: I don't worry about debt that's attached to property, and
• 21:37
  Speaker 4: I think that's just because I'm experienced in property. But
• 21:41
  Speaker 4: I feel like credit card and personal loans, I think
• 21:45
  Speaker 4: they can aspireal really quickly, so there is an element
• 21:47
  Speaker 4: of fear attached to those, I think, and obviously everyone would,
• 21:52
  Speaker 4: but I would puppoched to not to have them because
• 21:54
  Speaker 4: the benefit, you know, doesn't outlay the risk. Whereas with property,
• 21:57
  Speaker 4: I think you've got something solid that you can always
• 22:00
  Speaker 4: if you need it to, and hopefully in the right market,
• 22:04
  Speaker 4: your asset is at least equal to it.
• 22:08
  Speaker 2: Yeah, totally, And I feel like it's wealth generating at
• 22:11
  Speaker 2: the end of the day, Like if you get it,
• 22:13
  Speaker 2: you're like cool, Like I could sell it for what
• 22:14
  Speaker 2: it's worth. But a personal loan does feel terrifying. I mean,
• 22:19
  Speaker 2: as someone who was in personal debt, like it is
• 22:22
  Speaker 2: terrifying even once you've got it now. I feel like
• 22:25
  Speaker 2: to get into property to be able to like flip
• 22:28
  Speaker 2: these properties and get to where you are today, you
• 22:30
  Speaker 2: would have had to have some good money habits. Can
• 22:32
  Speaker 2: you tell me what you think your best money habit is?
• 22:34
  Speaker 4: I really thought about this because I was trying to
• 22:36
  Speaker 4: figure out what a good money habit is for me,
• 22:39
  Speaker 4: and I think it's so simple that it's so effective.
• 22:42
  Speaker 4: We have a billing account that's pretty much it.
• 22:44
  Speaker 2: So I love this.
• 22:46
  Speaker 4: I have a spreadsheet where I've got every bill that
• 22:49
  Speaker 4: we have to pay, the frequency in which we have
• 22:51
  Speaker 4: to pay it, added it all together, and provided it
• 22:54
  Speaker 4: into a weekly payment. So my income or my wage
• 22:57
  Speaker 4: goes straight into our billing account, and then I've figured
• 23:01
  Speaker 4: out how much we need to top it up from
• 23:03
  Speaker 4: my husband's wage, and the money just goes straight into
• 23:06
  Speaker 4: our billing account. It means we always know that any
• 23:08
  Speaker 4: bill that comes in, there's money there to pay it.
• 23:11
  Speaker 4: And it means that whatever's left, even though we probably
• 23:14
  Speaker 4: don't want to spend it all, is safe for us
• 23:16
  Speaker 4: to spend it. Yeah.
• 23:17
  Speaker 2: Yeah, yeah, that feels good. I mean it's not how
• 23:20
  Speaker 2: I deal with money, but that feels like a really
• 23:22
  Speaker 2: simple system to be like this means that my bills
• 23:26
  Speaker 2: are paid and I'm not in a financial pickle absolutely.
• 23:30
  Speaker 4: And then at the moment, like we have a savings
• 23:33
  Speaker 4: goal w or we're saving for our holidays, so some
• 23:36
  Speaker 4: of that money goes into another account, and they're all
• 23:38
  Speaker 4: offset accounts whing a mortgage, so while my money's sitting there,
• 23:42
  Speaker 4: it's off setting our mortgage. And we put a little
• 23:44
  Speaker 4: bit away for our holidays so that when holiday time comes,
• 23:47
  Speaker 4: I don't feel like I just.
• 23:48
  Speaker 2: Like, yeah, love, I love that so much. Do you
• 23:52
  Speaker 2: have bad money habits? If so, what's the worst The spenders.
• 23:56
  Speaker 4: Like my husband and I are really bad at saying
• 24:00
  Speaker 4: should we like this? And one of us will say no,
• 24:02
  Speaker 4: we don't need that, and then the next day be like, Oh,
• 24:05
  Speaker 4: let's just get it. Let's just get it, let's just
• 24:08
  Speaker 4: get it.
• 24:08
  Speaker 2: Let's just do it.
• 24:09
  Speaker 4: Why not example flights to Japan? Should we go to Japan?
• 24:14
  Speaker 4: And my husband's like, well, you're on the term lead,
• 24:16
  Speaker 4: do you think we should? And then the next day
• 24:17
  Speaker 4: he said, I fool a that, let's just do it.
• 24:21
  Speaker 2: I kind of love that though, Like it's not as
• 24:23
  Speaker 2: though you're being super financially irresponsible, like you have a mortgage,
• 24:27
  Speaker 2: You've achieved all of these things and kind of set
• 24:29
  Speaker 2: yourselves up, so it's not the end of the world.
• 24:31
  Speaker 2: Like these decisions that you're making, they are big, but
• 24:34
  Speaker 2: like they're not at the cost of your future wealth.
• 24:37
  Speaker 2: In the grand scheme of things.
• 24:39
  Speaker 4: No, not pouring our wealth down the drain, definitely not.
• 24:42
  Speaker 4: But we are just like we could probably say, oh,
• 24:45
  Speaker 4: we don't really need that right now, let's just not
• 24:47
  Speaker 4: like it.
• 24:48
  Speaker 2: I kind of like that though.
• 24:49
  Speaker 4: You know, when you want it, you want it.
• 24:52
  Speaker 2: See, you'd be fun people to hang out with, I
• 24:54
  Speaker 2: feel because I'd be like, oh, what if you guys
• 24:55
  Speaker 2: ruen up to and you'd be like, oh, we just
• 24:57
  Speaker 2: booked Japan. I'd be like, we caught it last week.
• 24:59
  Speaker 2: You said nothing about.
• 25:00
  Speaker 4: Japan, right, Well, it's funny it should say that, because
• 25:03
  Speaker 4: just before it started raining, my husband and I got
• 25:06
  Speaker 4: we've ordered and have a pool five of gus pool
• 25:09
  Speaker 4: sitting in our front yard because we're installing a pool,
• 25:13
  Speaker 4: and we were like, our sun really loves swimming it.
• 25:15
  Speaker 4: We were should we get a pool? He really likes
• 25:18
  Speaker 4: to swim. Should we get a pool? Yeah, we're getting it.
• 25:20
  Speaker 4: Let's do it.
• 25:22
  Speaker 2: So you have impulse brought a pool and flights to
• 25:25
  Speaker 2: Japan in the last month. I like this, right, I mean,
• 25:29
  Speaker 2: I would love to say it's like unrelatable, but like
• 25:31
  Speaker 2: I don't even have anywhere to put a pool, but like,
• 25:33
  Speaker 2: don't put it past me because I would do it.
• 25:34
  Speaker 2: I want impulse, bought a spa, an inflatable one on
• 25:37
  Speaker 2: the internet.
• 25:38
  Speaker 4: I will find space.
• 25:40
  Speaker 2: Yeah, I like this, like you are my people. That
• 25:43
  Speaker 2: just sounds really fun. We do have to keep each
• 25:45
  Speaker 2: other in check though, because like our spending, like we
• 25:48
  Speaker 2: would enable each other. So I think that we need
• 25:50
  Speaker 2: to just be careful because otherwise we both might end up.
• 25:53
  Speaker 4: In Japan or somewhere else.
• 25:56
  Speaker 2: Not bad, not bad. We've had a chat and at
• 25:59
  Speaker 2: the start you said, v I reckon, I'm a B minus.
• 26:02
  Speaker 2: Tell me what it would take for you guys to
• 26:04
  Speaker 2: get from a B minus to an A.
• 26:06
  Speaker 4: I think like starting on some investments, so something that
• 26:11
  Speaker 4: is like making us some money while we invest into it,
• 26:15
  Speaker 4: which maybe whether that's property or something else, I'm not sure,
• 26:18
  Speaker 4: but I think if we had some investments, I'd feel
• 26:20
  Speaker 4: more financially secure. And I would really love to have
• 26:26
  Speaker 4: like a passive income stream. And I think, hearing you
• 26:29
  Speaker 4: read the letter at the start where we talked about
• 26:32
  Speaker 4: like businesses and some failures along the way, my husband
• 26:37
  Speaker 4: is the eternal like looking for the.
• 26:40
  Speaker 2: Next good deal kind of like that that's me. I'm
• 26:42
  Speaker 2: always like open to a business idea. Like I swear
• 26:45
  Speaker 2: at the team every day. I'm like, so what about this?
• 26:47
  Speaker 2: And they're like, sit down, stop it.
• 26:48
  Speaker 4: This is me to my husband, No, that's the stupidest
• 26:51
  Speaker 4: idea ever. And he comes back again and he really
• 26:53
  Speaker 4: thought about it though, because I think it could work.
• 26:56
  Speaker 2: I like how committed we are to it though, And
• 26:58
  Speaker 2: then the week after when we've decided it's about idea,
• 27:00
  Speaker 2: I'm not admitting to you that it's about idea. I'm
• 27:03
  Speaker 2: just going to stop talking about it.
• 27:04
  Speaker 4: Yeah, I'll come up with the next big thing.
• 27:06
  Speaker 2: Yeah, I'm working on it. Stop asking.
• 27:09
  Speaker 4: So I think if we had a passive income, that
• 27:11
  Speaker 4: would make me feel more secure as well and better
• 27:14
  Speaker 4: about our financial habits totally.
• 27:16
  Speaker 2: And I don't think that's far away, because you guys
• 27:18
  Speaker 2: are talking about like setting up an Airbnb and like
• 27:21
  Speaker 2: organizing all of this other stuff that is going to
• 27:24
  Speaker 2: ultimately put you in a really good position. Like I
• 27:26
  Speaker 2: think this is a very fun money story. Like I
• 27:30
  Speaker 2: love that you're like, yeah, like we had some fertility
• 27:32
  Speaker 2: issues and we sold the house and I was like, oh,
• 27:34
  Speaker 2: that's so hard, and then you have two boys, Like
• 27:37
  Speaker 2: that's the best, Like and the journey I don't know.
• 27:40
  Speaker 2: The financial journey is such that you can't predict it.
• 27:44
  Speaker 2: Like you know, you said that you were twenty five
• 27:46
  Speaker 2: when you bought that house and then you were trying
• 27:47
  Speaker 2: to make babies and fill the house full of babies.
• 27:50
  Speaker 2: You wouldn't have predicted that you would have had to
• 27:52
  Speaker 2: throw money into that part of your life at any point. Like,
• 27:55
  Speaker 2: it doesn't ever become someone's goal, It just is a
• 27:58
  Speaker 2: spanner in the works. Do you think that your fertility
• 28:01
  Speaker 2: journey in a way has shaped the financial decisions that
• 28:05
  Speaker 2: you've made.
• 28:06
  Speaker 4: I think definitely, because I don't think that we would
• 28:09
  Speaker 4: have owned any other property after that. But now I've
• 28:13
  Speaker 4: got to provide for them. But my focus is them,
• 28:15
  Speaker 4: so I'm probably a little less frivolous, a bit more
• 28:18
  Speaker 4: safe because I want to give them their best.
• 28:21
  Speaker 2: Life possible totally, and I love that. I think that
• 28:24
  Speaker 2: that is really really cool, money direst. I wish we
• 28:26
  Speaker 2: had more time. This has been so beautiful to have
• 28:28
  Speaker 2: this chat with you. I've doort it. I feel like
• 28:31
  Speaker 2: we could be best friends on the outside. So I
• 28:33
  Speaker 2: hope that at some point you and I can cross
• 28:35
  Speaker 2: paths actually in person, as opposed to via video call.
• 28:38
  Speaker 2: So till then, Thank you so much for this. I
• 28:40
  Speaker 2: know that everybody listening is going to have loved it
• 28:42
  Speaker 2: as much as I did. Thank you so much for
• 28:44
  Speaker 2: having me so of course, thank you.
• 28:53
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