Latest / The Curve / Why Buying a Home Feels Impossible.

Transcript

Why Buying a Home Feels Impossible. · The Curve

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So I actually had my meeting this morning with the bank and I feel a bit deflated if I'm
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banked.
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Yeah, I know.
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And I'm actually like, not sure I'm going to get upset talking to others.
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Anyway, it went into the room.
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Oh my god, I'm so sorry.
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So sorry.
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Oh, so sorry.
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Oh, so sorry.
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Gosh, we have very proud to be partnering with Trade Me for this property mini series.
0:30
So for anyone that has followed the curve for a little while, I have spoken about my property
0:35
buying journey quite a bit to the point where people are like, what is happening?
0:39
What is taking so long?
0:41
We are doing a three part podcast mini series in partnership with Trade Me Property.
0:46
And whilst I'm not quite there yet on the actual purchase part, which we will get to for
0:50
the rest of this episode, what I have been doing in the meantime is dream scrolling and
0:55
dream scrolling, being looking through all of the amazing properties that are available
1:00
in Trade Me Property because there are more properties there than there are anywhere else.
1:04
And so this has been quite exciting for me.
1:07
You know, I've been looking at, I mean, let's be honest, things are quite out of my budget
1:11
right now.
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But to see what's available from like a seaside escapes, which you know, one day I'll get
1:17
there to like amazing properties that are available in the CBD or centers of towns in New
1:23
Zealand.
1:24
It really is the best place to see absolutely all of my potential options.
1:29
So if you are in a position where you're thinking, do you know what?
1:32
I'd love to buy a property or I'm interested in what's happening in the property market.
1:36
And I want to know what things are going for them.
1:38
Trade Me is the place to look.
1:40
So thank you so much to Trade Me Property for empowering this conversation.
1:44
And why not open endless doors with Trade Me Property?
1:48
You can download the app on iOS or jump on your web browser, have a good old dream scroll,
1:53
and if you see any good ones, please flick them my way.
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I've been asking, so what were you at with buying a house like, you know, when are you going
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to buy one?
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Pretty much.
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And she's like, I'll tell you on the podcast.
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I'll tell you on the podcast.
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Like all our conversations these days, that is not true at all.
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Sometimes it's like, how is your weekend?
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You're like, oh, I'll tell you on the podcast.
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No, no, not really.
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I feel like I'm pretty good at, you know, giving you the inside scoop outside of podcast
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hours.
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It's funny.
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I can tell when you switch to content.
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Right?
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If I'm talking to you about something and then you're like, oh, they're making great
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pieces of content.
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My eyes just glaze over and I'm like, I'm already playing in my head.
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But no, I am very excited.
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I feel a bit deflated if I'm being, yeah, I know.
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And I'm actually like, not sure I'm going to get upset talking about this.
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To use this is like a therapy session.
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Yeah, maybe.
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Yeah.
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So, yeah, so I, I've wanted to buy house to ages and I know that it's the classic
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Kiwi dream, you know, to buy property, but I think the more that I've learned about
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investing, the more that I've, I've leaned into the stock market.
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So for the last like four years, I've been very much investing in stocks, knowing
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that properties were well out of reach for me, getting enough for a deposit has been
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like, you know, something that I knew I was a long way off and also being self-employed
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or doing freelance work or whatever is so hard to like, oh, like banks really need
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to get up with the play.
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Yeah.
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So I think for the last like four years, I've been investing to grow my money to get
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to a point where I have a deposit, you know, that's been my goal.
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And while I've had, you know, other short term money goals, like really, I really want
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to buy a house.
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Yeah.
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And I think that the more that I've learned about property and the idea of leverage and
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how amazing that that can be if it's used in the right way to buy a house, it makes so
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much sense to me, you know, like for a while, I never really understood the purpose of
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a mortgage or like, I mean, I knew you needed a mortgage to buy a house, but I never really
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thought about the gains that can come from leveraging money to invest more than what
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you have essentially.
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Yeah.
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And I think that's why it's called the property ladder is because you get on, you get
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on, then you grow your wealth and then you step out the ladder, you leverage some more,
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you know, yeah, there is merit to it rather than just like, property prices always go up.
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Yeah.
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It's actually, it does give you leg up, legs up, leg up, legs up, legs up, legs up.
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But it gives you, we're sorry, we don't get it.
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No, it does.
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It gives you, because, and so I guess just like we've done, we've chatted up this before,
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so we won't go into too much detail, but when you borrow money from somebody to invest,
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it's like, it's kind of the idea of you can compound the amount you can make, so when
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you're investing in the stock market, if you're investing $100 a week, amazing, like
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amazing.
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However, if you can leverage, leverage is just like a fancy way of saying borrowing money
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to be able to invest more.
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It means that you're getting more returns because you've got a higher amount that you're
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getting returns on if that makes sense.
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You're getting a more bigger dollar return, even though percent, they might be the same.
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Yeah, exactly.
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So when you invest $10,000, 10% on $10,000 is a lot bigger than 10% on $100.
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Yes, exactly.
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And so when it comes to buying property, you are leveraging, so borrowing money from the
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bank, and you borrow a certain amount to be able to buy the house, but then when you pay
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the bank back, you give them back the amount that you borrowed, you don't have to give them
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the amount that they earned on that money that was also invested in an asset class.
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So their return is what you pay in terms of a mortgage rate, not the return that the
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property goes up in value, that you get to keep that.
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So it's like you can, yeah, if the property market does well, then you get to keep the
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full kind of capital gain return, which is amazing.
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Yeah, yeah.
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But ultimately, the idea would be the more you have to invest, the more money you can
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make.
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Right.
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There's like the premise about wealth breeds wealth, which is incredibly frustrating,
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but it's true.
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True.
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Yeah.
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And so I think that although I know that the return I can get in the stock market is equal,
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if not sometimes a lot higher than what you can get in property, there's still this
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like understanding for me that if I can leave Ridge, I can earn more because I've invested
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more money, whereas I can only invest what I can in the stock market.
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Sorry.
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I feel like I'm really hammering down on this.
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But for me, it was like, it's not a really long time to understand that.
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And it's also it's not all the more you borrow, the more you make or anything like that
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because you actually have to pay a return to service that debt or to like almost like
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a thank you to the person who's all the bank that's leading you that money.
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So yeah, it's not like, oh, well, then why wouldn't I just borrow four million?
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It's like, no, no, no, if your income is only $50,000 a year, you can't borrow that
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much.
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You know, like you can only borrow so much in regards to your income.
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There's also some really cool stats because this episode is sponsored by Trade Me and
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they've seen us a whole lot of really interesting stats.
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And I thought this one, like, yeah, I love the, I mean, the stat, it makes a much sense
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to me, but 95% of people want to own their own home and New Zealand, which I actually think
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probably spans beyond New Zealand.
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I mean, it's maybe not as high, but I still think there's a large majority of people because
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the understanding also from the generation before us, like with our parents and our parents
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parents, the amount that they were able to make wealth wise through investing in the
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property that it was huge, obviously a lot harder for us now.
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So whilst I haven't been obsessed in the sense that like it's the only way I think I can
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grow my money, or it's the only opportunity for me to invest, like I know there's many other
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ways, which I have totally been exploring a lot in the last four years, like I'm so
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proud of where my portfolio is, but I have also really wanted to buy a house.
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So I've been gone through the process of trying to get pre-approval, which is, which is
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essentially having to share your, you know, like kind of your financial naked self to a
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bank for them to say they're happy with what they see, you know.
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So did you have to hide any transactions, or your parents, or you're like, oh, sorry,
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that $20 on social terms.
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No, because this is a thing that I've learned is actually there's nothing to do with what
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you're doing.
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Like the bank understands that if you get a loan and you're having to repay something
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and that responsibility is now on your plate, that you will change the way that you spend
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if you need to.
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And so I actually, when I was putting my forms and stuff through, I didn't, I actually
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was a completely transparent about my discretionary, about like everything, how much I had in stocks,
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and then Kiwi say, blah, blah, blah, blah.
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And you're very good at creating budgets and, you know, sticking to them.
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So I think definitely if you were like, look, okay, now you've got $1,000, or $2,000
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a month going out for your mortgage, you'd be very stressed.
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Oh, totally.
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I'm really good with the goal.
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Yeah.
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Like with any kind of goal, whether it's like a business goal or a personal goal, and like
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a dog with a bar.
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Yeah.
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Like I honestly, it's like quite weird.
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Yeah.
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So that's kind of, I know, I know myself and I know that that's not really, I'm not going
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to be going and splashing out on stupid stuff I don't need when I have to pay a mortgage.
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But anyway, so I actually had my meeting this morning with the bank.
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And it's actually, it's so interesting because as it, before I was going in, I was like,
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because you don't probably normally have to go in, but because I'm a unique case because
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I work for myself within the curve, it's different.
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Like it's not just as straightforward as going to a mortgage advisor.
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Like I tried that and I spoke to someone who was like claiming to be the best in New
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Zealand.
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And I was like, well, you can't get it and I could tell you if you could.
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So, you know, and I was like, and I was so gallant, I was like, oh my god.
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I was like, I don't deflate people's dreams.
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Oh, it was like, at least let them down in a nice way.
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You know, I'd be like, maybe just not right now, but if you save X or do Y, it was real
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shit.
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I feel like I would never say that to someone.
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She's obviously just like, she knows what she's up to, she's really got to what she
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does.
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She's trying to like, just get to the point.
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She's busy.
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She's busy in a mortgage broker.
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Yeah, he is, but I was kind of just weird to go through my dad.
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Yeah.
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You know, I need a mortgage broker.
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I'm like, alright, it's available.
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But no, I think with my specific situation, I knew that I was going to have to get creative.
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You know, like I knew it was going to be straight forward anyway.
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So I was going in this morning and I was like filming myself, I'm like, going in, going
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to find out if I've been pretty approved, you know, doing a little like selfie video.
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And then I was recording it and I was like, I'm pretty sure I'll cry if I, if this doesn't
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actually go through because I sort of feel like I've had this weird sense of like, no,
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I've done this right.
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You know, like I've done my research, I've like really gone about it the right way.
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I've got an amazing team at ASB who have been helping me do it.
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And I know that if it's possible, they're going to be able to figure it out.
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Do you know what I mean?
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Anyway, so I went in and I was like, in the waiting room and I was like, couldn't
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connect to Wi-Fi.
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I was feeling real nervous.
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And I was sitting there like, wow, I'm actually like quite nervous.
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Anyway, I went into the room and I was like, oh my god, I'm so sorry.
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I'm so sorry.
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I'm so sorry.
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I'm so sorry.
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I'm so sorry.
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I'm sorry.
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Take breath.
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I'm just like, it was real overwhelming because I went in like, take your breath.
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You went in.
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It kind of reminds me of when I was going to New York and my dream was to go live in
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New York.
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And I remember saying goodbye to my parents and I had my bags packed.
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And I remember leaving the airport getting on the plane and I was so excited.
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And I was like, my dreams are coming true.
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This is incredible.
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And those that know me know what actually happened at the border in Texas.
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But anyway, I was escorted on a flight home, spent about five hours in America.
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I remember sitting on the plane and I was like, I just never thought that this would
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be what was happening.
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And it was kind of, it was an out of body experience of sitting on this plane, flying back to
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New Zealand, then seeing my parents at the airport crying, being like, it's okay.
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And I was like, oh, it's a real come to Jesus moment.
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But yeah, then I was just like, you know what, just kind of think of what plane
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is.
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But yeah, yeah, basically what happened was she was just like, look, it's just so not
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a straightforward.
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It's like, it would be if you were working in a salary job and she was just explaining
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like, you know, it's, but why I'm sorry, I just like, I do not understand.
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And I would love to get someone from a bank on to be like, how are you moving your processes
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with the times?
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Because over half my friends now would work for themselves.
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And if that's a reflection of the country or the economy, like, they must be missing
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out on so many mortgages in any way.
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Yeah.
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And I think that's kind of how I felt.
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I was like, if this is how I feel and this is how hard it is, when like, when I've like
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tried so hard to get all my stuff sorted and to be really good, like five years ago,
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maybe financially it was a completely different person, you know, like I've grown up so much.
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And I think it's just like, it's just so frustrating when like, you know, there's people who
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are in salary jobs that are honestly probably just as precarious as working for themselves.
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But then, you know, if you're a freelancer or you work in your own business, it's like
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virtually impossible to get a mortgage.
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It's just like, it's like if anyone else at the curve that was getting the same paid
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the same as you, but wasn't an owner of the business, went in and had that conversation
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and had completely the same spending habits and and and savings and everything to you.
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But they weren't a director or an owner of the curve, but they completely different conversation,
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which is so ridiculous that Emily or Danny could get a mortgage because they work for
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the curve.
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That's so true.
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Yeah.
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I don't even think of that.
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Just take you off.
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Just you're not a co-founder anymore.
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You're not a director.
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You're an employer.
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Yeah.
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That's the thing.
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I think that's why the normal mortgage broker couldn't do anything is because I owned,
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you know, I think it's like if you own more than 35% or 40% of business, you're not allowed
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and you're a salaried employer.
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You're not allowed.
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Anyway.
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Yeah.
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She was like, look, it's not like a no, but she just started doing the whole, you know,
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if it's not now would it be sometime and I'm just like, God come on.
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Like it really stifles like innovation and the entrepreneurial spirit when like you're
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kind of the one that gets dealt the shittest because you're taking the biggest risk right.
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You know, like you have to work the hardest.
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You have the biggest risk and you may have a big reward, but you might not and like people
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could spend 10 years in a really profitable, well, well machine, be a big shareholder and
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still not be able to get alone and it just feels really backwards and shit.
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Well, you could be a salaried employee earning mega bucks but be absolutely terrible at
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your job and lose your job the next day.
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You know, whereas at least we're like a founder mentality.
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You are going to do anything, you know, blood, sweet or tears to make that business keep
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surviving.
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Also, I'm only trying to loan 500,000.
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Yeah.
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It's not as though I'm trying to get like a million dollar mortgage.
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Yeah.
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You know, like it's 500,000 and you know, I have a plan of all like ideas which will get
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into more in this like property series of like what I was planning on doing and obviously
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I can share it with their blood anyway, even if I don't get to do it.
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But it's like, yeah, I think because what I was originally going to be doing was going
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in with my friend Ella and we were going to do it together but she's also in a situation
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where she's on like a contract which was not going to work, we were like, okay, no,
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not an option.
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But another, like another good friend of mine was in a position where he was really
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happy to buy property and he was, he had a decent amount that was like enough for a deposit
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and some, and I was just like talking to him about this a few months ago, being like,
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you know, this is the situation, you know, he's like, look, if you're open to doing it together,
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I totally do that.
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And I was like, cool, amazing, like cool.
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So with the, with the mortgage pre-approval with the bank, it's like, he's a no-brainer.
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He's got tick, tick, tick.
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We earn the same amount of money, you know, and we, and I have the same amount of a deposit
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and amount to spend on like renovating a house and everything.
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But and he's just like flown through and I'm the one that's holding it up.
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Did you ask the bank why?
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It's just the idea that, you know, we can prove how much we've made up until now, but
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everything, you know, in the future is just, it's just, um, predictions.
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There's nothing concrete about what our earnings will look like.
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So it's just like, for them, they can't, which I understand, like, I understand it.
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It's just like so frustrating to be on the other side of it.
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Yeah, so I'm like, I'm now kind of just waiting to see like what ends up happening
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and if, um, if I can be pretty, she said by the end of today, they'd be able to give
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me an answer.
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So because I was, I really wanted to have, I wanted to come in here and I was going to
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like make it a big deal and be like, guess what?
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I got pre-approved.
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I was going to make it like a big thing and like, it's, I think it's like, oh my god,
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sorry.
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It's an emotional way.
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Anyway.
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I also don't think, take, don't take this as like a no.
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Do you know what I mean?
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I know it's deflating.
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Don't get me wrong.
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It's especially when you're so excited and you've actually been, I know how much you've
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been trying to get this across the line and how much you've on a drone house.
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Just, yeah, I think also like, honestly, coming back to New Zealand and like, seeing how,
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you know, it's such a reminder like all my friends are like having babies, buying houses,
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doing the traditional stuff, you know, and it's like, you can't compete yourself to others.
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I know it's just like, it's just sucks when there's, it feels like there's nothing I
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can do, you know, and it just feels unfair, honestly, it feels really unfair.
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But you know what?
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You can just keep growing that money in the stock market.
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You're still growing wealth.
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I know you're not buying a house, but I think you're still growing your money and a lot
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of those friends you probably look at could have huge mortgages, huge amounts of debt,
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we actually financially stressed because, I don't know, they could have jobs that they
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hate, but they can't leave because they've got to pay a mortgage.
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They might have had salary cuts because the economy is pretty shit at the moment, but
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there's so much you don't see underneath the surface, but I know you come back and everyone
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looks like they're killing it and you look like you're being left behind, but you're
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not, but you're definitely not.
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It's frustrating because it's someone else telling you no, and I think that's the really
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frustrating thing is I know you would be under a backwards to pay your mortgage because
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I know that you would, you fought so hard to get into the property market and also how
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diligent you are with your finances.
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Well, I mean, I honestly, no, I hate it, I spend that you're like, yeah, and when you say
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you mind something, you know, like you wouldn't want to disappoint your friend, you know,
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you would totally, and I, it's frustrating to see how far you've come as well in terms
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of learning about this and actually implementing it and achieving financial goals, yet this
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one goal, the bank's like, yeah, that's just, yeah.
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I think that's the what's shit though, is that the people that have been helping, and
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credit to ASB, like they've been amazing, like they've done everything that they can to
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like try and get the computer to say yes.
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Yeah, yeah.
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And so it's hard because like I know that their hands are tied, I know there's nothing
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else they can do, like there's only so far that they, but I think what's frustrating
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is like, let's just say worst case scenario did happen and the curve went totally under.
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It's like, I could totally go and get a way better paying job.
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Do you know what I mean?
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It's like, I'm not.
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And then you get a approval on a heartbeat.
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Yeah, but also, like even if they gave me a loan and I was a risk and the worst did
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happen and the curve went under, I could get another job in a few weeks that was, like
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that sounds arrogant, but it's true, like I know I could get a really well paid job that
20:00
wasn't in the curve if I had to.
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Yeah.
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It's annoying because it's like, what do you think I'm going to do if like if the curve
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went under then worst case scenario is I have to go get another job, which I know I could
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do anyway.
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And I could do that.
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Or they sell the house.
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And you pay back money.
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Just like anywhere.
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That's like I remember I went to, I went to the bank and I wanted to go interest only,
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which is when you don't pay, you're not paying down the portion of debt.
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You're just paying the interest on the debt because I wanted to invest, I wanted the extra
20:30
money to invest and they were like, sorry, we can't do that.
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And I was like, what do you mean?
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I've got plenty of equity in my house.
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So there's no concerns there that I've got too much debt or anything.
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You can see it, my salary can adequately pay it.
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And they were like, they were like, yeah, no, sorry, we can't allow that.
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And I was like, well, we can only do that for people that are in financial distress.
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And I was like, I mean, I can be in financial distress.
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I could easily.
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Actually, now I think about it.
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I was like, thanks, I'm furious.
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And I was like, that seems like we can put you on to our financial distress team or something.
21:06
And I was like, I was like, that's so backwards.
21:08
Like, you say yes if I couldn't pay, but because I can pay, you can't say, I don't know,
21:13
I was like, quite anyway, there's probably a lot that goes on in banks that we don't see.
21:18
And they've got all other, you know, they've got a balance, you know, if they say yes to you,
21:23
then that could throw out, you know, other metrics of kind of risk that they're monitoring.
21:27
And so I get that, but it is, it is frustrating when it's just, it's not as flexible.
21:32
But I, yeah, and I definitely don't want this to sound like I'm being negative,
21:35
because honestly, I know for a fact that a normal mortgage broker couldn't have got this across the line.
21:40
And when you're the one who first spoke to you, she was like, no, at least top in New Zealand.
21:43
I just be as trying.
21:45
They're trying so hard.
21:46
And that's kind of almost what's worse about it is that I'm like, I know there's no other option,
21:50
because I know they're doing everything they can.
21:53
So it's just like, I have faith.
21:56
God, the thing is, this is what they said to me.
21:58
They're like, do you know, do you have any other questions or other things?
22:00
And I was like, oh, they were like, you excited?
22:03
And I was like, I, I really was.
22:05
And now I feel like I shouldn't have.
22:06
You know, like I wish I hadn't got excited.
22:09
I can't believe I haven't seen anything about this, by the way.
22:11
Like every time I talk about it, I'm like, I feel my throat catching,
22:14
because it's just like, she said to me, she was like, you know,
22:17
a, you, my name's Michelle.
22:18
I feel like she'd be fine with me using her first name.
22:21
Do you have any other questions?
22:22
I was like, no, do you know what?
22:23
I just feel like I need to just, I wish I hadn't got even excited about it.
22:27
And it just, it did make me think of like other people who are either like,
22:31
trying to get their deposit big enough or they're in a relationship.
22:36
And it was the only way they were going to buy and then they broke up.
22:38
Or, you know, like there's so much shit stuff that happens.
22:42
And money is really emotional.
22:43
And I think that like we, we laugh on the podcast a lot and we make jokes about it.
22:48
But like behind closed doors money can be really stressful.
22:52
And like, especially when it's for pretty much every a lot of goals in life,
22:58
you need money to achieve them.
22:59
And so, you know, if you're trying to make progress towards a goal,
23:03
and then for whatever reason, you can't achieve that financially, it does.
23:08
It hurts.
23:09
Was it the fact that you were overseas as well?
23:13
Did that come into it?
23:14
Yeah. So like if you're overseas, you, even if it's your earning pounds,
23:20
which is way more, the idea that you're earning, like you're not in the currency of New Zealand,
23:26
if the New Zealand dollar got really strong.
23:29
Yeah.
23:30
And what you're earning overseas doesn't go as far, which seems so weird to me,
23:34
because I'm earning double by being on pounds.
23:36
And it's not like I'm on like nothing, you know?
23:38
Yeah.
23:39
She said she could only take into account 70% of my salary.
23:43
So, 30% is attenically like doesn't count.
23:46
Interesting.
23:47
That's the bandwidth that they've got.
23:49
So I think it's a lot harder if you're buying overseas,
23:51
or if you're employed overseas.
23:53
Because maybe you just take out your Kiwi saver and buy a house in London.
23:59
Oh, could I do that though?
24:01
Yeah.
24:02
How?
24:03
You just permanently immigrate over to the UK.
24:06
So I could take my permanently immigrated essentially.
24:09
And you, you, you signed a declaration saying,
24:11
I've permanently left the country.
24:12
You can come back, it's not like they're going to stop at the border.
24:15
And you say, you can withdraw your contribution.
24:18
So anything you've put in your employers,
24:21
you're the kickstart that we used to get years ago.
24:24
And any, obviously, any performance,
24:25
you can't take out the government contributions though.
24:28
So you might lose, I don't know how much,
24:31
you know, the net's the member tax credit,
24:32
so that $500 a year that goes in.
24:35
So you'd probably lose.
24:37
Five grand, wasn't it?
24:38
Yeah, yeah, but you could do that and take that out
24:40
and spend that and put that into a property.
24:42
Oh, that's a good idea.
24:43
We'll just take it out and spend it.
24:44
But hey, we are not condoning that.
24:46
No, but so I could.
24:47
I could take it out and I could buy something overseas.
24:49
I mean, house prices are more expensive in London.
24:52
Well, you might have to live for a start of three-hour train from work.
24:57
I got a house.
24:59
So I'm like, I love somewhere.
25:05
But yeah, there's, yeah, there's also haven't had a solid no yet,
25:09
so update on that.
25:10
But I think that, yeah, I mean, I think there's lots of things here as well.
25:14
The idea that there's probably a lot of people listening who
25:18
you know, might not have enough for a deposit on their own
25:20
and like, what I'm doing is joining forces with someone else.
25:22
And I think that that's going to be really different.
25:25
You know, like, it's essentially like being in a relationship
25:28
and the pros that come with being in a relationship.
25:29
We're just just doing it.
25:31
I've asked her.
25:32
I don't think she really wants to buy a property.
25:33
I reckon you can swing it.
25:35
You can?
25:36
Yeah.
25:36
I just, I don't know.
25:37
I'm like, I don't really want to force anyone into something.
25:40
I'm really thinking of it as a business set up.
25:43
I'm not, it's on emotional purchase.
25:46
I'm not thinking of this house as my, you know, my forever home.
25:49
I'm thinking about this as purely an investment.
25:51
And so my friend, I'm doing it with hopefully.
25:54
He's in exactly the same state of mind.
25:56
He's like, I don't need this money for 10 years.
25:58
I'm thinking of this as a long-term investment.
26:00
This is my like, and we're both with us each other.
26:02
I can share the questions that we ask each other because it was,
26:05
I've just got a really good idea.
26:07
Wow.
26:08
Should we put it to the community?
26:10
What do you mean?
26:10
Is there anyone out there that wants to buy house and they?
26:13
Yeah.
26:14
Oh my god.
26:14
Okay.
26:15
Hi.
26:16
I'm Sophie.
26:18
Do you want to buy a house and they know that like, no?
26:20
If it's a, if you're purely thinking from a business standpoint.
26:23
Totally.
26:23
If there's someone out there,
26:26
cool.
26:26
That is, you know, in a position that wants to buy a house and doesn't quite
26:30
have the capacity to themselves either.
26:33
Or someone that wants to buy a second home or anyone
26:36
that wants to.
26:38
Yeah.
26:38
We can set up some interviews.
26:40
Yeah, that would be fun.
26:41
I reckon we'll keep it.
26:43
Do you reckon?
26:44
Yeah.
26:44
But what is this?
26:44
Like a crowd-sourced to buy a house.
26:46
No, we should buy a house.
26:47
See if there's business.
26:48
Yeah, yeah.
26:48
Sealing up and agreement to buy an asset together.
26:53
But what about my friend?
26:54
I've already talked to her about that.
26:55
Are we ditching him?
26:56
I see you throw it out the window.
26:58
I think we need someone, a woman.
27:00
No, I like the idea of it being too close to her.
27:02
No, I just think,
27:03
didn't know the C's, you mean,
27:05
oh, with more celery days.
27:08
So you're only allowed to apply if you're earning over 250.
27:11
Maybe we'll put out a job description.
27:15
Let's not throw the baby out with a bathroom.
27:17
No, as you would say.
27:18
Correct.
27:19
Correct.
27:19
And
27:20
But I'm post throwing out a baby.
27:22
Yeah, like, as if you'd accidentally throw a window.
27:23
Right.
27:23
Yeah, yeah, I'd base fill it.
27:26
Right, maybe.
27:26
I want to get married in the car.
27:27
Can we not get distracted?
27:28
I feel very on.
27:29
I'm not the focus normally.
27:31
Sorry.
27:32
Sorry.
27:32
I've lost my train of thought.
27:35
Yes, if anyone wants to buy a house or so.
27:37
No, we've just discussed.
27:38
We can't throw the baby out of the bathroom.
27:40
Oh, I know, but we can just start.
27:42
Okay, okay.
27:43
We can start progressing plan B in a train A work.
27:45
I like that.
27:45
We say goodbye to plan B.
27:46
Yeah, I like that with a dress plan B.
27:48
But what would it help, though?
27:50
That's what I'm not sure about.
27:51
If someone else is in a position where they want to work.
27:53
Well, you forget a third person in with you guys.
27:55
Do you think that would help?
27:56
Then you could get, yeah.
27:58
Then there's less reliance on you.
28:00
Do you know what I mean?
28:01
Like, you're only a third of the equation, not a half.
28:03
Okay.
28:05
I mean, maybe we talked to Michelle.
28:07
Yeah, maybe we take this one offline.
28:08
Michelle, I've got team people.
28:12
I mean, I've got no idea.
28:14
Yeah, yeah.
28:14
Because I think, oh, oh, my God.
28:16
No, I'm not.
28:16
I'm really sorry.
28:17
I'm so here for it.
28:18
We could just buy a curved house.
28:19
Could we?
28:20
Anyone in the community that when we each have a 10% share
28:23
or something, and it's just one massive
28:26
property agreement, yeah.
28:28
Have I just created something?
28:30
I think so.
28:31
A property club.
28:32
Yeah.
28:33
Oh, my God.
28:34
Let's focus on the existing company.
28:35
Yeah, yeah, yeah, yeah.
28:36
One thing in a time.
28:36
Yeah, I'm keen to know that so far.
28:38
Why would you not want to buy in the UK versus New Zealand?
28:42
I feel like the property market in New Zealand
28:46
is particularly special in its returns.
28:49
And I know that this is like the,
28:50
what it's done in the last 30 years is not necessarily
28:53
like what it will do in the future.
28:56
And I could be off with this,
28:58
but my research is that the UK property market
29:04
is pretty slow in growth.
29:06
And the capital gains that I would get
29:09
in the UK comparatively to New Zealand
29:11
are a lot, like a lot less.
29:14
Is there a sense of familiarity as well?
29:16
No, if I was to buy in the UK,
29:18
it would be so that I could live in it.
29:20
Yeah.
29:20
Because that obviously makes sense.
29:22
I'm paying rent towards your own mortgage.
29:25
But if I was to buy,
29:27
I wouldn't buy in the UK and not live in it.
29:29
That would make no sense.
29:32
And so it would mean I'd need to buy in an area
29:34
that's somewhat central.
29:36
And I think it's way out of my budget.
29:37
I haven't done the numbers honestly.
29:39
And maybe that's something I should do
29:42
before I fully decide that.
29:44
But there was this house I walked past
29:46
every day on the way to work.
29:48
And it was so beautiful.
29:49
And then one day I had a four-sale sign.
29:51
And I googled how much was it?
29:54
1.6 million pounds.
29:56
Yeah.
29:57
It's a bit out of the price, right?
29:58
A bit out of the price.
29:59
But you know,
30:00
vision board, aspirations, mindset,
30:02
all of that walking past every day, I was like,
30:04
I don't know about that.
30:05
I think the reason, I think the main reason
30:07
is that what I'm buying
30:08
is I'm wanting to buy as an investment property
30:10
because I can't afford something
30:12
that I would want to live in.
30:13
I'm seeing it purely as an investment.
30:15
I'm not seeing this as like a lifestyle purchase.
30:17
Yeah.
30:18
I want to stay living in central London.
30:20
I don't want to live in in Bristol.
30:22
And I have to train five hours to work.
30:26
We love Bristol, but you're...
30:27
No, I love Bristol.
30:28
I'm very enthusiastic about Bristol.
30:30
But do you think that's stupid?
30:32
Like do you think that I think that's...
30:33
Yeah, I also think there's an element of
30:35
you'll eventually come home.
30:37
So buying here kind of makes more sense.
30:40
But I'm not thinking again,
30:41
I'm not buying this to ever live in.
30:44
So that's not really actually...
30:47
I mean, even if I did move back to New Zealand,
30:50
the dream for me would be to buy this property
30:53
or innovate it, I think.
30:54
This is what I'm sort of where I'm going down there.
30:57
I thought process at the moment.
30:58
And it's not confirmed.
30:59
And I think this property series,
31:01
as we figure out the different ways
31:02
of making money through property
31:03
and we're going to share kind of what we've learned.
31:05
What I've learned, particularly in the last few months,
31:07
as I've been thinking about the best way to go about it,
31:09
is that like if I am thinking of this as an investment
31:12
and I buy it and then I can save up again
31:14
to be able to borrow again and maybe...
31:16
I would like to have a couple of properties
31:19
in my portfolio in general.
31:21
Yeah.
31:21
I think that if I was to buy in the UK,
31:24
it would be more of a lifestyle decision
31:27
and when I have more money to be able to live
31:30
in a closer area.
31:31
Mm-hmm.
31:32
But I honestly don't know if that's a good decision
31:34
and I actually really came to hear your thoughts on that.
31:37
No, I think that's right.
31:39
I've kind of been touring with the idea as well,
31:40
just because I think rents are so expensive there,
31:43
it's like, oh, you know, what would it be if I actually bought
31:47
and was paying a mortgage of the same amount
31:50
and like all of that?
31:51
But again, it's where we want to live
31:53
and where we can afford to live are two different things, though.
31:56
Yeah, so that's kind of...
31:57
But you can get a lower deposit percentage in the UK.
32:01
So here it's 20% and London it's 5%,
32:05
which kind of scares the producers out of me, but...
32:07
Why?
32:08
Oh, just there's a lot of debt.
32:09
But when you say it's scary, like, what's the difference
32:12
in having a less deposit and a bigger mortgage?
32:14
You have to pay, you pay more in mortgage repayments.
32:18
Oh, but in mortgage repayments or in interest?
32:21
Or in more interest?
32:22
Interest, which is your mortgage repayment.
32:23
So your...
32:25
Because there's more that you owe, so you have to pay interest.
32:27
So if you borrowed $100,000 or pounds,
32:32
versus if you borrowed $500,000 or pounds,
32:36
the mortgage rate can be the same,
32:37
but because you've borrowed so much more,
32:39
the dollar amount you have to pay each month is gone up.
32:42
So the more you borrow, the bigger your mortgage repayments
32:46
each month, your service ability is what they call it.
32:49
Yeah.
32:49
So that's why they look at your income, because they're like,
32:51
OK, we can only lend her X amount,
32:54
because looking at her income,
32:56
and her outgoing,
32:58
like she's only going to be able to afford to pay back X amount per month,
33:02
but therefore we can't lend her a $4 million loan or mortgage.
33:07
So they're looking at all of that as well, the banks are.
33:10
Yeah, and what I'm meaning with a smaller deposit
33:13
is you don't have to save up as much.
33:15
The amount you can borrow might still be the same,
33:18
so you might have to come down in terms of the house price you can afford,
33:21
but someone with only maybe $50,000 pounds
33:26
could get into the property market,
33:27
whereas in New Zealand you need a lot more,
33:28
because you need to have 20% of the value of the house.
33:32
Yeah, and also it's an investment that's 30.
33:34
Yeah, so in terms of your situation,
33:37
because it wouldn't be an investment property and you'd be living in it,
33:39
you might have an easier chance at getting approval in the UK.
33:43
There's other things to consider like stamp duty,
33:45
so you have to pay when you buy the house.
33:48
Oh, is it when you buy it?
33:49
Yeah, you have to buy it when you buy the house,
33:51
additional stamp duty.
33:52
Be great to have a UK New Zealand mortgage broker that could be like,
33:57
do your situation side by side.
33:59
Yeah, yeah.
34:00
How much are you looking to borrow yourself personally?
34:03
If I do it with someone else,
34:04
yeah, we're both responsible for the total loan amount.
34:08
Got you.
34:09
So we're both responsible.
34:10
We're loaning.
34:10
We're trying to get pre-approval 500,000 New Zealand.
34:14
Yeah.
34:14
But it's not like I'm trying to get $250,000 for me,
34:17
and he's trying to get $250,000 for him.
34:19
We're both liable.
34:20
So if he was to default,
34:21
it's my responsibility and if I was to default,
34:24
it would be for the only reason you're combining forces for the deposit,
34:27
essentially.
34:27
Yeah, and like the reason,
34:29
well, this is what I was thinking,
34:30
and I'm keen to hear what thoughts on it.
34:32
I wanted to not put almost 100% of my wealth and property.
34:39
It felt really risky to me to have all my money.
34:42
I didn't want to be leveraged up to my eyeballs in terms of repayments.
34:44
I didn't want to have the stress of like,
34:47
you know, if it can't be filled for a period of time,
34:49
it only would be my responsibility.
34:51
If renovations need to be done,
34:53
I wanted all of that to be joined.
34:55
And we would both put a certain amount of our pay into a shared account
34:58
that was like a business account for our house.
35:00
Yeah.
35:01
So that anything like a new roof or whatever,
35:03
yeah, let's hope no new roof.
35:05
But that way would be it would be joint responsibility,
35:08
joint repayments.
35:09
Yeah.
35:10
And then the other reason was so that I could still keep a decent amount of money
35:13
in stocks because I, as much as I really believe in the property market,
35:18
I think that this is going to be a much, much slower burn.
35:22
And I, I don't know, but like I think house prices could be low for a while.
35:26
You've got your kiwi saver.
35:28
And I'm not pulling it out.
35:29
Well, I'm sorry.
35:30
So yeah.
35:31
So if I buy New Zealand, I don't need to pull out my kiwi saver.
35:34
I've got enough in my, what I've invested in stocks that I can use
35:37
that as my deposit.
35:39
And I can still keep money.
35:41
My money in the stock market in kiwi saver.
35:44
Plus like a sum leftover.
35:46
So my plan was then to be able to service and like keep up with my house repayments
35:52
and upkeep and all of that.
35:54
And put a little still continue putting into the stock market too.
35:57
I just didn't want to have my whole portfolio in property.
35:59
I would.
36:01
And this is just me giving you personal friendly advice.
36:04
Yeah.
36:04
Not my actual advice.
36:07
I would pull out all your kiwi saver.
36:10
Because it is the only chance
36:13
you'll be able to do that into your 65.
36:15
Now you may.
36:16
Yeah.
36:16
To buy for because I know the other says not because of your first time.
36:19
You won't be able to take that out again.
36:21
If you go buy another property, you can't take it out.
36:24
You know, you don't do it for your first time.
36:25
But isn't it good to keep it in?
36:26
Yeah. But I think you've got.
36:29
And again, you'll be like, are you kidding?
36:31
But keep in harping on about, you know, same for time.
36:34
You've got 30 plus years to rebuild that.
36:37
The amount that you could make by investing in property now
36:41
by taking that out and actually getting on the property later and
36:44
growing your property portfolio.
36:47
And you've got years to build up your retirement portfolio.
36:51
I've got a feeling you can't use your kiwi saver to buy.
36:54
A property, if it's an investment, you're not living in.
36:57
I think you can pull it out for your first home if you're living in it.
37:00
But there's like some kind of like intricacies there.
37:03
Like I've got a feeling I actually can't.
37:06
Which is why I've had to find a way to because I'm overseas,
37:10
because I'm not a New Zealand, because I'm not going to live in it.
37:13
I can't use kiwi saver in the same way.
37:16
So I know I wasn't the answer you wanted, so.
37:18
But like what is it now just a waiting game or like what is
37:23
is there anything you can do now for your situation or use waiting to hear back?
37:27
I'm kind of just waiting to hear back and then I think then I'll make a call.
37:32
I think there's there's different
37:36
like levers or ways of approaching it.
37:39
Like honestly, I feel so determined that I think the only other option would be if I was to
37:47
stay in New Zealand to, you know, because if you buy your first home and you live in it for six
37:53
months, that's the minimum you have to live in it if you buy a house instead of an investment
37:59
property, but actually buying it is my first home. I could take out my kiwi saver, which I'm not
38:04
currently doing because it's not technically a first home, because that would mean a 10%
38:09
deposit instead of 30. I think just the numbers would be easier.
38:11
What was speaking about how it would make sense if you stayed longer in New Zealand?
38:15
Yeah, I know, honestly, it could be all for tutors.
38:18
For tutors?
38:19
Yeah, no, I mean a lot of our partnerships and stuff are in New Zealand still, so we actually
38:23
had talked about the other day. So I don't know, I mean, I'm not making any decisions,
38:27
I'm just going to wait and see, but I just feel like and I said this when I first saw my
38:32
property journey or like it's first talked about it. I was like, you know, I feel like I want to
38:37
find a way to do this. I feel like I want to find like to not prove the system like wrong,
38:42
but I'm just like, no, like don't put me in a disadvantage because I work for myself.
38:48
Like it's not, it just feels, it just feels frustrating.
38:51
And don't say that I can't grow my wealth and property when I've been busting my bum
38:56
to get my deposit and you're still saying no, just because of stupid rules and regular life.
39:03
Yeah.
39:04
Ah, yeah, yeah.
39:06
It's all a bit TBC at the moment, but like honestly,
39:10
I'm like, am I moving to New Zealand? I'm not sure why, but we'll see.
39:17
Oh, I think what I would love to do in the next couple of episodes for this mini series that
39:22
we're doing with Trade Me because obviously I've been on Trade Me trying to find and look at
39:28
properties that are within the price range I'm looking at around the 500,000.
39:32
Did you know what that's the appeal of scrolling through property in New Zealand?
39:39
Just fucking through looking at property beats the desire to scroll through dating apps.
39:44
Do you think it's because there's hardly anyone on the dating apps?
39:47
So it's just boring to be on probably.
39:50
I mean, I would rather look at, look through and look at amazing properties than
39:54
weird people.
39:55
I also think this because I know Trade Me have an app now, I think for just for iOS, but
40:01
there is something about the opportunity or the potential that feels more uplifting
40:08
than maybe my dating life.
40:10
I was so loving like, oh, I wouldn't put a deck around that.
40:12
Oh, I'd paint that with different colour.
40:14
Why did they put it?
40:15
You know, you always think that, oh, we can add value or do something else and so far.
40:20
Do you do that when you say it like Airbnb is like, oh, I'd bolt down this wall and I'd
40:24
push out this unit and actually adding value to some of my tabs open in my brain.
40:29
And like when I'm at an Airbnb, generally, it's how clean is this place?
40:32
Oh, you've had an Airbnb.
40:34
Yeah, it's huge.
40:36
But I think that the idea of looking at what I could get, even though I haven't been approved,
40:41
and like understanding the way in which I could add value if I was to renovate or add things to
40:47
to go down more of an active property path, which is a big part of owning property,
40:52
being able to add value actively.
40:54
Yeah, and I think for the rest of this mini series, we're going to record a couple of different
40:59
conversations around how you can add value, whether it's like understanding the difference
41:05
between active and passive, when it comes to property, what would that look like?
41:08
What are the risks involved?
41:10
Like, understanding that because for my own knowledge, like I want to understand more about that.
41:13
And yeah, just making sure that I'm making the right decision.
41:16
Because it is massive.
41:17
It's such a massive decision to my house.
41:18
And I think it changes massively when you're not necessarily living in it.
41:24
It's on a family home.
41:26
I think it is just you need to think about it more.
41:28
It's not 100% in no brain it because there are risks involved.
41:32
And it comes to renovating, like if you're not the one doing the renovations,
41:36
is it still worth it when you figure out how much it contractors cost?
41:39
Like all that kind of thing.
41:41
It's funny when I was looking at buying my first home.
41:46
I was looking at it as a investment property.
41:48
And not going to live in it.
41:50
And I remember taking my dad around because he's the kind of dad that will not want the walls.
41:55
And make sure that it is a sturdy bit.
41:58
So I'm like, dang, it's so embarrassing.
42:01
And I remember when we went to this one,
42:02
there's this beautiful bath that took up over half the bathroom.
42:07
And I was like, oh my gosh, beautiful.
42:09
He's like, no, you'd rip that out.
42:10
You'd put in two toilets, you'd cut a wall down, you'd make it.
42:13
And I was like, more like than you'd make it two bathrooms.
42:16
I put a wall in and then this bathroom could be made into two and then you're adding value.
42:20
And I was like, oh, what about the beautiful bath?
42:23
And it's that mindset of, is this a home I'm going to live in?
42:26
Or is it you're trying to maximize the value you can create from it?
42:31
And therefore you're putting in two toilets and a wall down the middle.
42:33
So it's, yeah, you look at properties differently when you're looking at them for an investment
42:38
or for, you know, to live in.
42:40
Which you should, yeah.
42:41
Yeah.
42:42
And I think there's probably people who already own a lot of people that already own property.
42:46
But understanding like how and what the best way to add value is,
42:50
I think will be a super just in conversation for people.
42:52
I guess my main thing that I found that I'm not,
42:55
I don't, I don't know if this is, if I'm like not scared of it because it's been so hard
43:02
to try and get, but I don't feel that scared about the idea of being in debt or having a loan.
43:08
And that's something I wanted to chat to you about.
43:09
I was like, should I be like, because I remember when you were
43:12
leveraging to buy a second place, it was quite stressful.
43:15
And you were like, I'm going into more debt.
43:17
And I think when you, but the bank doesn't lend you money unless it's against the asset,
43:24
which is the property.
43:25
So the kind of worst case situation is you have to sell that property and give the money back to
43:30
the bank.
43:30
The second one you mean?
43:32
Well, either any property.
43:33
Do you know what I mean?
43:34
So it's like as long as you're confident that the value, the value is still there in that asset
43:40
or in that property, then it shouldn't scare you.
43:43
Does that make sense?
43:44
So yes, I log into my banking and I see I have nearly a million dollars in debt.
43:50
But and that should scare me.
43:52
But I always think, no, no, I'm sitting on a house that is much more valuable than that
43:59
in a million dollars.
44:00
So I can pay that back in a heartbeat if I needed to.
44:03
So that's how I think about it.
44:05
So even taking on more debt and taking on additional mortgage to buy the second house,
44:11
again, that mortgage is backed by a property that is worth something.
44:16
So if worse came to worse, I would sell that property and pay back that mortgage.
44:20
It's like knowing in yourself, like you said, well, if I lost my job, I could just go out and
44:25
get another job and be earning just as much.
44:28
You are the asset in that sense.
44:30
Do you know what I mean?
44:31
It's like it's knowing that that's not money that you just have to work at paying back.
44:36
That money is connected to something of great value that you could easily realize will not
44:42
easily, but you know, you can't just sell a property as easy as you can sell shares,
44:47
but you can realize it easy enough by taking up a month and realize for anyone that doesn't know
44:51
it's the idea of selling to get the money back.
44:54
It's actually converting that asset into cash essentially.
44:58
You could do that very easily to pay that debt back.
45:00
So that's why it doesn't scare me.
45:03
Whereas credit card debt, that scares the perjeeze out of me because it's not tied to anything.
45:12
It's tied to me paying it back with my salary and my income.
45:16
So it's a bit different.
45:17
Yeah, okay.
45:18
Yeah.
45:19
Which is weird because it's like, I don't know, $10,000 in credit card debt,
45:22
scares me more than a million dollars in mortgage debt.
45:25
No, I mean, I think that's the clever way to think about it.
45:28
Do you go into debt to to catapult your wealth, not to hinder it, and actually one is...
45:35
And that's why we should work good debt and bad debt is because there is a debt that can
45:38
catapult you and there is debt that can hold you back significantly.
45:42
But I do remember when I first bought my house having that amount of debt did take a bit of
45:47
getting used to because you've got this big negative balance.
45:52
Do you say it?
45:53
And you're about to say it.
45:54
That's so weird.
45:55
Every day.
45:56
I know.
45:57
Oh, that's really weird.
45:58
So you log in and it's like negative and negative or something.
46:01
Whoa, that's so weird.
46:03
Where's the four?
46:03
I'd never hit that.
46:04
Oh my god, my dad is just so strange.
46:07
Just kind of just hit me.
46:08
Yeah.
46:08
So you can see it.
46:09
Yeah.
46:10
I mean, some people, yeah, you can put it in, you can have it at a different bank or,
46:15
you know, not maybe not your transaction account, but mine's all in one.
46:18
So it's, yeah.
46:19
But yes, so it is a psychological thing though that might take a bit of time for some people
46:26
to get their head around being in that much amount of debt, that much amount.
46:29
That's that amount of debt.
46:30
That amount of debt.
46:31
But then what about if we were saying worst case scenario, then
46:36
just so that I don't make a mess of mistake or do something stupid,
46:40
is there anything else like other than the idea of like you could up and sell it if you needed to?
46:44
What are some like things that I actually could go wrong?
46:48
Like not having insurance, obviously, would be really
46:50
well, maybe you can't even get a house because they're
46:53
they're giving you the money to purchase the house.
46:56
So they want that house to be protected and by that I mean the bank.
46:59
Yeah.
47:00
So that you need to get insurance before that even give you the money, which makes total sense.
47:05
I think the biggest thing is you in your salary and not being able to pay the mortgage
47:10
repayments.
47:11
It's the biggest thing that scares me because that is money.
47:14
And yes, if you got to a situation you could talk to the bank and be like,
47:17
look, I've just lost my job.
47:18
It's going to take me a couple months to get a new one.
47:20
Can I just pause my payments for a couple of months and they're usually pretty helpful.
47:25
And that's the principle payments.
47:27
Principle and interest.
47:28
So your mortgage repayment can just...
47:29
Can you pause interest as well?
47:31
Yep, you can pause then.
47:32
Would it just get bigger and bigger?
47:34
Yes, yeah, yeah.
47:35
So you wouldn't be paying down your mortgage, the dollar amount.
47:39
But would you be wrecking interest more than what you would have if you were paying it?
47:43
Like is it, is it a...
47:44
When you're, let's say for example someone lost their job.
47:47
Yeah.
47:47
And they went in and they were like, okay.
47:49
Yeah, you can go to interest only, which would shrink your mortgage repayment.
47:53
And this is what happened during COVID because a lot of people did lose their jobs.
47:56
And banks were like, give us a call, we're here to help.
47:58
So you could either pause your payments completely in the interest,
48:02
just makes your loan amount bigger if that makes sense.
48:06
Oh, okay.
48:06
So it takes long, it'll take longer to pay off.
48:08
And when you do turn it back on, it'll be higher.
48:10
Or you could just go to interest only,
48:13
which means you're not paying down any,
48:16
any of the dollar value of the actual amount of debt you're just paying the interest payments.
48:20
So your debt isn't getting any smaller.
48:22
Or you, oh, isn't getting any smaller.
48:24
There is ways around it, yes, should that happen.
48:26
But that's probably my biggest fear, to be honest,
48:28
is having to call the bank as a financial educator.
48:33
And help.
48:34
Hey, it's just me.
48:36
And then you ask him a clockhouse, how's it going?
48:39
Good, getting really good.
48:41
I'm fine, I'm fine.
48:45
Oh, it's so weird being an adult sometimes.
48:48
No, no.
48:49
This is why mortgage protection insurance,
48:51
what income protection insurance is really, really good.
48:52
Oh, of course.
48:54
Because that can steep in and help and pay,
48:56
depending on your insurance, pay a certain percentage of your mortgage.
49:00
What is it?
49:01
Like, how does it kick in?
49:02
It depends what insurance policy,
49:04
but you can get one that pays certain percentage of your mortgage,
49:07
or you can get one that pays a certain percentage of your income.
49:10
So then you can just pay your mortgage.
49:11
So there's lots of insurance that you can help you sleep better at night
49:15
if you do have that amount of debt.
49:18
But without sleeping, when you cry and you get real tired,
49:21
I'm so tired.
49:23
Don't like coffee.
49:23
Feel like I need a nap.
49:25
Okay.
49:26
Maybe keep crying for a bit, and they know I'll be fine.
49:29
But yes, look, not the end of my property journey,
49:32
just a little bump in the road.
49:35
Hiatus, yeah.
49:36
Little bump, little pause.
49:37
Yeah.
49:38
Reconvame.
49:39
Got a bit of gravel in the, in the wheel,
49:40
which is where you walk it there.
49:42
We will get there, and we will throw a curved house party.
49:45
Oh, that's such a fun idea.
49:48
I am a continger.
49:49
What is going on?
49:51
That is such a good idea.
49:53
I love that.
49:54
Your party at mine.
49:55
Maybe it could be like a demolition party,
49:56
you know, if we have to take a few walls out.
49:58
No, you have to give people to help paint.
50:00
Oh, yeah.
50:00
Put on door knobs.
50:01
Yeah.
50:02
So it wouldn't be.
50:03
$30,000 quote to paint this house.
50:06
It wouldn't take a lot of work.
50:08
We'll give you free invest in club and your membership.
50:13
Okay, we'll get back to it.
50:16
We'll get this week.
50:16
We've got two more episodes next week in the one after.
50:19
So stay tuned for updates.
50:23
No more tears, I promise.
50:25
This conversation was brought to you proudly
50:28
by Trade Be Property, a partnership that we are super, super proud and excited
50:33
about, to be honest.
50:34
And look, who knows how long this is going to go on for,
50:37
because we're not quite sure what's happening with my pre-approval.
50:40
Will it happen?
50:41
Won't it happen?
50:42
TBC, we'll come back to that.
50:44
But yeah, thank you so much.
50:45
You should trade me for allowing us to have these conversations.
50:49
And you know what?
50:50
Whether you are looking for property now or maybe in the future,
50:54
Trade Me have absolutely without a doubt hands down
50:58
the most properties in anywhere else.
51:00
So if you want to do a little dream scroll,
51:01
have a look and see what's available,
51:03
then I would highly recommend dropping on.
51:05
We will come back with part two of this conversation next Friday.
51:09
So let's just hope there's some exciting updates.
51:12
But in the meantime, have a look at Trade Me.
51:16
Okay, quickly, the curve was created to empower and educate you about investing,
51:21
but we are not financial advisors.
51:24
Our platform exists for educational purposes only,
51:26
and it doesn't provide personalized investing advice for your individual needs,
51:29
and should not be relied upon to make an investment or financial decision.
51:33
And always remember to do your own research
51:35
before making any investment or financial decision.
51:38
We're here for any knowledge and support you need,
51:40
but the final call is always yours.
51:42
And thanks for being here.
51:43
You got this.
51:44
Yeah, we know you got this.