Latest / TFS WealthCast / Big Dreams, Small Deposits - The Gen Z Reality Check

Transcript

Big Dreams, Small Deposits - The Gen Z Reality Check · TFS WealthCast

• 0:17
  SPEAKER_05: Hi guys and welcome to another episode of the TFS webcast.
• 0:22
  SPEAKER_05: The TFS webcast, which is a challenge from the newly launched Gen Z podcast.
• 0:28
  SPEAKER_05: You know, it's been a hit, man.
• 0:30
  SPEAKER_05: It's been a hit, man.
• 0:31
  SPEAKER_05: So we're doing an episode today.
• 0:33
  SPEAKER_05: We're bringing back the OG, the one, the only.
• 0:36
  SPEAKER_05: Uh Mr.
• 0:36
  SPEAKER_05: Promo Rodwing.
• 0:39
  SPEAKER_05: Yeah.
• 0:39
  SPEAKER_05: So we brought Boss Man in for an episode.
• 0:42
  SPEAKER_05: And we're gonna see if Boss Man has actually been listening to all of our episodes.
• 0:47
  SPEAKER_03: Oh.
• 0:47
  unknown: Yeah.
• 0:49
  SPEAKER_05: So welcome to another episode of the TFS Weltcast.
• 0:54
  SPEAKER_07: Thank you.
• 0:54
  SPEAKER_07: Thank you for having me.
• 0:55
  SPEAKER_05: Thank you for being here, boss, as always.
• 0:57
  SPEAKER_05: I know you really want to go home early, cook for Sonali and the kids, and you know.
• 1:02
  SPEAKER_08: Yeah, that was that was uh that was in in in the in the in the daily plan.
• 1:06
  SPEAKER_05: Yeah, what are we gonna make?
• 1:07
  SPEAKER_08: Baramandi?
• 1:09
  SPEAKER_08: Uh that wasn't in the plan, so I have I would have made it.
• 1:12
  SPEAKER_04: You know, Prabhu really likes fish.
• 1:13
  SPEAKER_04: I heard exactly I do.
• 1:15
  SPEAKER_04: He loves fish, yeah.
• 1:21
  SPEAKER_05: Alright, so how do you enjoy our first episodes?
• 1:25
  SPEAKER_05: Our first Gen Z podcast episode.
• 1:27
  SPEAKER_05: It was very good.
• 1:28
  SPEAKER_05: What did you learn?
• 1:29
  SPEAKER_05: If you if you listen to our podcast for the first time, what did you learn from our podcast?
• 1:34
  SPEAKER_08: I think I learned a couple of things.
• 1:36
  SPEAKER_08: I'll tell you I learned that you have finally learned the both of you.
• 1:43
  SPEAKER_08: That was good.
• 1:45
  SPEAKER_08: Um the uh information that you guys shared about your uh expenses that you guys could do, you know, coffee was something that you guys were having a bit of a debate, debate about.
• 2:00
  SPEAKER_08: Uh but I still think that you guys should use the coffee what we have in the office.
• 2:06
  SPEAKER_05: But but but but we would like to counter argue that because now that now that you've bought it up, you know, let's talk about this promo, you know.
• 2:14
  SPEAKER_05: We say that that cup of coffee that we buy in the morning, it's it's like an investment for us.
• 2:20
  SPEAKER_02: Yeah.
• 2:20
  SPEAKER_05: Because it's actually an asset to us, because it increases our productivity, yeah, right?
• 2:27
  SPEAKER_05: What's the episode?
• 2:28
  SPEAKER_05: Yeah, during work.
• 2:30
  SPEAKER_05: What happens to TFS when we incre when our productivity and focus increases at work?
• 2:36
  SPEAKER_04: I mean, look, it's it's it's it's who benefits from that benefit that TFS gets.
• 2:44
  SPEAKER_08: Which I agree.
• 2:45
  SPEAKER_08: So, I mean, that's why I'm not stopping you guys having coffee, have much as you guys want.
• 2:50
  SPEAKER_08: Exactly.
• 2:51
  SPEAKER_08: So, so so we thought imagine, just imagine.
• 2:54
  SPEAKER_05: What am I imagining here?
• 2:55
  SPEAKER_00: You bought us that coffee.
• 2:57
  SPEAKER_05: That copper that, yeah.
• 2:58
  SPEAKER_05: Imagine you bought us those cup of coffees, you know.
• 3:01
  SPEAKER_05: Right, okay.
• 3:01
  SPEAKER_00: So that's we save everybody.
• 3:03
  SPEAKER_05: Oh, that productive, yeah, exactly.
• 3:05
  SPEAKER_05: And that shows us as well as uh viewers that oh wow, they have a cool boss.
• 3:11
  SPEAKER_08: They have such a I thought the viewers already know I'm cool.
• 3:14
  SPEAKER_05: That's the thing.
• 3:15
  SPEAKER_08: Now we're gonna now we're gonna are they looking that that that is something you guys all know.
• 3:22
  SPEAKER_08: It's not something that I can approve, it has to be approved by Sonali.
• 3:26
  SPEAKER_05: And I know Sonali listening to this episode is gonna be like, Don't bring me into this, don't tell me, don't bring me into this.
• 3:33
  SPEAKER_00: Sonali's like, I don't have coffee the body, I'm productive.
• 3:37
  SPEAKER_08: I'll make a deep for you guys.
• 3:38
  SPEAKER_03: Oh, okay.
• 3:38
  SPEAKER_03: Here we go.
• 3:39
  SPEAKER_03: All right, all right, all right.
• 3:41
  SPEAKER_08: If you guys get to your um, I think you have some sort of subscribers right now in the YouTube channel, right?
• 3:50
  SPEAKER_08: Yeah, so folks, I'm gonna say this to these boys.
• 3:55
  SPEAKER_08: He's saying it to us.
• 3:56
  SPEAKER_08: If you guys get to thousand subscribers, I'll personally buy this coffee machine for y'all.
• 4:01
  SPEAKER_05: No, no, no.
• 4:02
  SPEAKER_05: We don't want a coffee machine, then everyone's gonna have coffee because of us.
• 4:05
  SPEAKER_05: We want us to have the get the coffee when we're doing the episode.
• 4:09
  SPEAKER_05: The coffee machine is for you guys to use.
• 4:12
  SPEAKER_08: It's a very good thing.
• 4:13
  SPEAKER_04: That's not the answer.
• 4:14
  SPEAKER_04: That's not what we want.
• 4:16
  SPEAKER_08: I have to consider certain benefits for myself as well, right?
• 4:21
  SPEAKER_08: Because this is something an instant instant asset write off about the backstory that is that Prabhu has a couple of coffees a day.
• 4:30
  SPEAKER_00: Yeah, so you know exactly.
• 4:34
  SPEAKER_05: We have one cup of coffee a day, which improves our focus and productivity.
• 4:38
  SPEAKER_05: But the man in front of us, he has just today, like you had you had five cups of coffee today.
• 4:44
  SPEAKER_05: Four, four, four.
• 4:45
  SPEAKER_05: Yeah, so imagine he spent six dollars of coffee and had five copies a day.
• 4:49
  SPEAKER_05: Yeah, thirty dollars, boss.
• 4:51
  SPEAKER_08: Uh his his maths are also getting better, as you all can see.
• 4:57
  SPEAKER_04: Imagine if possible could yeah.
• 5:00
  SPEAKER_08: All right, so what are we talking about?
• 5:02
  SPEAKER_08: Your episodes, yes, brilliant.
• 5:03
  SPEAKER_08: I love I love it.
• 5:04
  SPEAKER_08: I I reckon you guys are um talking the real thing uh for your generation as well.
• 5:11
  SPEAKER_08: I think it is also extending it to other generation, even to our generation as well.
• 5:17
  SPEAKER_08: So baby boomers, uh, is that what you call us?
• 5:20
  SPEAKER_08: Uh, because one episode you guys were talking about millennials that you don't fit it, you guys are between millennials and gen Z.
• 5:28
  SPEAKER_05: We are zillennials, you know.
• 5:29
  SPEAKER_05: You're a millennial, you know, you're zillennials.
• 5:32
  SPEAKER_05: But then actually, not not to butter your ass up like it's a slice of bread, but you'll actually get along with the Gen Z as well.
• 5:39
  SPEAKER_05: I mean, we have some Gen Z at work that think you're a cool boss, so yeah, so we'll give you that.
• 5:44
  SPEAKER_05: You are a cool boss.
• 5:45
  SPEAKER_05: There you go.
• 5:45
  SPEAKER_05: Thank you.
• 5:46
  SPEAKER_00: A lot of butter.
• 5:47
  SPEAKER_05: Yeah, yeah.
• 5:49
  SPEAKER_00: I'm totally comfortable.
• 5:52
  SPEAKER_05: Not not when he's like angry though, then then he's just scary.
• 5:55
  SPEAKER_05: Then I'm like, I don't want to be I thank God about Charida.
• 5:59
  SPEAKER_04: After a few days when we go out, we really have a good time.
• 6:01
  SPEAKER_04: So give props to Prabhupada for that.
• 6:03
  SPEAKER_05: And every time TFS rocks up at a wedding or a party or a dance, yeah.
• 6:08
  SPEAKER_05: We we we know how to yeah, we know how to rock up the dance floor.
• 6:12
  SPEAKER_08: We've set our benchmarks that that's you know, yeah, that's our signature, probably our signature thing now, you know.
• 6:18
  SPEAKER_05: Oh, yeah, we really get close.
• 6:20
  SPEAKER_05: I mean, the alcohol helps, and the fact that Pramud doesn't come and tell us take it easy on the alcohol helps even more.
• 6:26
  SPEAKER_00: Other bosses are like shit, my staff are getting drunk, put the money out there.
• 6:30
  SPEAKER_00: We have staff that you're on the stage and sing the song, you know.
• 6:33
  SPEAKER_05: I think that that, of course, I think we need to stop at the next event.
• 6:38
  SPEAKER_08: Yeah, certain rules have to come into play accurate.
• 6:44
  SPEAKER_05: Yeah, all right, all right, Prabhupada.
• 6:46
  SPEAKER_05: So the RBA increased the rate again, right?
• 6:49
  SPEAKER_05: A couple of weeks ago.
• 6:50
  SPEAKER_05: Yeah.
• 6:50
  SPEAKER_05: What is your take on that?
• 6:52
  SPEAKER_05: And how how do you see how do you think that it's going to stabilize the economy?
• 6:59
  SPEAKER_08: Looks what was that 4.60?
• 7:01
  SPEAKER_08: That's very interesting.
• 7:04
  SPEAKER_08: Uh I I think the the issue with the increments is it's it's it's happening in a in a one particular uh shorter time frame, right?
• 7:15
  SPEAKER_08: It it's an it's an a within within this year.
• 7:17
  SPEAKER_08: I think we had about me to that.
• 7:21
  SPEAKER_08: I think it's about six or eight rate announcements.
• 7:24
  SPEAKER_05: There were two holds and three rate increases.
• 7:28
  SPEAKER_08: Yeah, right.
• 7:29
  SPEAKER_08: So so fourth.
• 7:33
  SPEAKER_08: Sorry, I've just looked into it, it's the fourth increment uh this year.
• 7:38
  SPEAKER_08: I think that's the issue, in my opinion.
• 7:43
  SPEAKER_08: 4.60 cash rate, it's when you really think about it, it it's not that bad, right?
• 7:50
  SPEAKER_08: Um, because your retail rate from banks these days, you should be able to get something in 6.2 to 6.3% uh borrowing rates.
• 8:01
  SPEAKER_05: Sharon can answer that.
• 8:03
  SPEAKER_05: What was the lowest rate we got a client recently?
• 8:07
  SPEAKER_00: Like right now?
• 8:08
  SPEAKER_00: Yeah, yeah.
• 8:08
  SPEAKER_00: I think before this, before this increase, it was like 5.89, 5.
• 8:13
  SPEAKER_08: Yeah, 7.5 basis point on top of that.
• 8:16
  SPEAKER_08: So what is that?
• 8:17
  SPEAKER_08: You're looking at uh 6.13, 6.114.
• 8:22
  SPEAKER_08: Yeah, I'm gonna let you do the match there.
• 8:23
  SPEAKER_08: That's okay.
• 8:24
  SPEAKER_08: So it's not that bad if you really think about it.
• 8:26
  SPEAKER_08: The issue is the people haven't, my opinion, is people haven't done their budget, they're they are not prepared for this kind of environment.
• 8:38
  SPEAKER_08: That that's the issue.
• 8:40
  SPEAKER_08: And you guys also touched this on one of your episodes about uh, you know, all the subscriptions.
• 8:47
  SPEAKER_08: Uh, given that you guys are testing me, I believe that uh uh Charin has uh stan subscription for trying to make sure these CJs don't uh it's a man new fan.
• 9:04
  SPEAKER_08: Did you talk about your OnlyFan subscription?
• 9:07
  SPEAKER_08: Oh, you mean your only feed subscription?
• 9:09
  SPEAKER_08: That's I I will stay away with your uh you know your subscription.
• 9:15
  SPEAKER_08: Um, you don't like feed?
• 9:18
  SPEAKER_08: No, I have two feet, so there's nothing much I can say anything beyond that.
• 9:25
  SPEAKER_05: Um our goal is to, you know, also make our boss uncomfortable on this podcast.
• 9:31
  SPEAKER_05: These are questions we can't ask him.
• 9:33
  SPEAKER_08: Uh when I let loose, and you might become comfortable.
• 9:40
  SPEAKER_08: So again, coming back to the um uh right, so you guys were talking about subscriptions and then uh it is it is a budgeting issue right now, right?
• 9:50
  SPEAKER_08: If you you gotta also think about what areas you you are willing to compromise right now, as an example, Charit, if I ask you, can you if it's a twenty dollars a month, I believe, stand, right?
• 10:05
  SPEAKER_08: So so you're looking at what$240 per year.
• 10:09
  SPEAKER_08: Is it standard you gotta understand$240?
• 10:12
  SPEAKER_08: What what kind of change would happen to you?
• 10:15
  SPEAKER_08: But if you have a mortgage,$240, what would that$240 will help you in in what way?
• 10:24
  SPEAKER_08: Is it the maybe with maybe a one month gas bill or one uh of a you know three months of a gas bill?
• 10:33
  SPEAKER_08: I don't know what is it.
• 10:34
  SPEAKER_08: I think the people should hold that.
• 10:37
  SPEAKER_05: I mean one date night, yeah, basically.
• 10:39
  SPEAKER_05: You go on expensive dates, right?
• 10:41
  SPEAKER_05: No, man, I I I really don't go on expensive dates, you know.
• 10:44
  SPEAKER_08: Right.
• 10:44
  SPEAKER_08: So we people have to now think about that and start compromising.
• 10:50
  SPEAKER_08: The compromise is not forever, it it it is for a certain period of time, right?
• 10:59
  SPEAKER_08: But what if the rate comes down next year?
• 11:02
  SPEAKER_05: What if your income goes up?
• 11:03
  SPEAKER_00: That proof, I think you you put something out, I think today maybe, uh, uh regarding obviously rate hike.
• 11:10
  SPEAKER_00: Yeah, and also the fact that you know you have been through different upturns and downturns in the economy, I think the 2008, you know, global crisis, yeah, obviously COVID, you know, post and pre-COVID, I think are two different worlds.
• 11:24
  SPEAKER_00: Yeah, when you compare it.
• 11:26
  SPEAKER_00: So, like, why don't you tell us?
• 11:28
  SPEAKER_00: You know, you've been through multiple crises here, yeah.
• 11:31
  SPEAKER_00: Know how things took a turn, went down, came back up.
• 11:34
  SPEAKER_00: I think if you talk about that and show people that you know there's actually more to this, it's not the it's not a forever thing, like you said, and just talk us about that experience as well.
• 11:46
  SPEAKER_08: Um so people what pe what people should know as a homeowner or or property investor, go and have a look at these downturns, these time periods.
• 11:59
  SPEAKER_08: How long did they actually last?
• 12:02
  SPEAKER_08: Then you'll see.
• 12:03
  SPEAKER_08: Okay, I can I may need to plan for two years, I may need to plan for 18 months, I may have to plan for five years.
• 12:10
  SPEAKER_08: You'll see.
• 12:12
  SPEAKER_08: But then at the same time, have a look at it.
• 12:15
  SPEAKER_08: The upside.
• 12:17
  SPEAKER_08: Once the market turns, how quickly it went up.
• 12:21
  SPEAKER_08: So then you can play a waiting game if you're smart enough, as well as buy and invest or invest and play the waiting game.
• 12:34
  SPEAKER_08: So if you can do your cash flow projections as well as your budgeting correctly, you can actually invest really smartly.
• 12:45
  SPEAKER_08: It's a very good platform um for a lot of investors right now to make good equity.
• 12:53
  SPEAKER_08: Still, we all we all see for strong buyers are in the market.
• 12:56
  SPEAKER_08: For them, it's like now they have a bigger piece of the cake.
• 13:00
  SPEAKER_08: Right.
• 13:01
  SPEAKER_08: So investors are a little bit uh they're thinking about what to do.
• 13:06
  SPEAKER_08: Oh, some investors have decided, you know what, start property.
• 13:10
  SPEAKER_08: I'm gonna go to different different types of investments, different different classes.
• 13:15
  SPEAKER_08: So the opportunities are there.
• 13:18
  SPEAKER_05: What what happened to you as a property investor with you know the new budget and with all these changes?
• 13:24
  SPEAKER_08: See, property investments for me is always going to be a part of my wealth.
• 13:31
  SPEAKER_08: Right.
• 13:32
  SPEAKER_08: I will be investing in property regardless.
• 13:35
  SPEAKER_08: Yeah, but how I invest will change.
• 13:41
  SPEAKER_08: Obviously, negative gearing gone.
• 13:43
  SPEAKER_08: Yeah, right.
• 13:44
  SPEAKER_08: So then I will think twice if I do buy and hold uh investment property as an established, I'll think twice now.
• 13:51
  SPEAKER_08: Right, because what's my upside?
• 13:55
  SPEAKER_08: Exactly.
• 13:55
  SPEAKER_08: Okay, previously I I I wouldn't I would buy that because there is a limit, so someday I can subdivide it, or someday I the value will go up, the area will go, you know, uh have more people coming in, it'll have a higher demand, I will buy and hold.
• 14:14
  SPEAKER_08: But now for me to buy and hold, there are no benefits I'm getting.
• 14:20
  SPEAKER_08: Unless if I buy and hold in about four years to five years later of mid-term investments, I'm getting at least about 30 to 40 percent return.
• 14:31
  SPEAKER_08: Capital capital growth.
• 14:33
  SPEAKER_08: Right now, again, it's not like you're not gonna get 30 to 40 percent overnight.
• 14:39
  SPEAKER_08: If I'm if I'm holding it for four years, if I'm getting 10% return every year, first year I might get four, second year I might get eight, there could be an year I might get about 15 to 20 percent.
• 14:54
  SPEAKER_08: If I know if I'm if I'm comfortable enough to make that kind of investment, take that kind of risk, I'll still invest.
• 15:03
  SPEAKER_05: I mean, now I'm I'm still looking at opportunities.
• 15:06
  SPEAKER_05: So, what uh as a property investor, what kind of properties are you looking at now?
• 15:11
  SPEAKER_05: Are you looking at established properties or brand new house and land properties?
• 15:14
  SPEAKER_05: What is more favorable for you at this time?
• 15:18
  SPEAKER_08: Right now, I am looking at established properties because I I have enough brand new properties, which I have enough negative properties already.
• 15:27
  SPEAKER_08: I I have it.
• 15:29
  SPEAKER_08: The reason I'm looking at established properties because not enough investors in the market, I'm only competing with first-home buyers.
• 15:36
  SPEAKER_08: Their budgets are limited, yeah, their borrowing capacity is capped.
• 15:41
  SPEAKER_08: Sharine, you would know.
• 15:42
  SPEAKER_00: That's what I was about to say.
• 15:43
  SPEAKER_00: In a first-term buyers, if you see Prabhupada auction house, let's just go to the next property.
• 15:47
  SPEAKER_00: I'll find you guys the next property.
• 15:49
  SPEAKER_08: Yeah, if I really want it, I will pay 28 to maybe$50,000 more.
• 15:53
  SPEAKER_08: Because if if I know I'm gonna earn$150,000, I can afford to pay$50,000 more.
• 15:58
  SPEAKER_08: But at the same time, the first term buyer can't do that.
• 16:01
  SPEAKER_00: So would you say, Prabhupada, it's it's more of a it's more of a bias market right now, absolutely, right?
• 16:07
  SPEAKER_00: It's a bias market.
• 16:08
  SPEAKER_08: See the bias market, what do you do?
• 16:11
  SPEAKER_08: Buy.
• 16:12
  SPEAKER_00: Yeah, exactly.
• 16:12
  SPEAKER_00: You just gotta go aggressive and go aggressive and buy.
• 16:16
  SPEAKER_08: But I am I'm also looking at other places too, other kinds of investments as well.
• 16:22
  SPEAKER_08: Because I'm more I like the transaction.
• 16:25
  SPEAKER_08: Yeah.
• 16:26
  SPEAKER_08: Like I've done the waiting game for good 20 years.
• 16:30
  SPEAKER_08: Now I don't have that much of patience anymore.
• 16:32
  SPEAKER_08: I like to get into it.
• 16:35
  SPEAKER_08: Hey, what did you say?
• 16:38
  SPEAKER_05: I want to hit it and quit it, you know?
• 16:40
  SPEAKER_05: Jump in, jump out, see, get in, get out.
• 16:44
  SPEAKER_05: He's still single.
• 16:45
  SPEAKER_02: Yeah, damn.
• 16:46
  SPEAKER_05: He's got a burning me out.
• 16:49
  SPEAKER_05: He's the boss, so we have to hold hold back, you know.
• 16:53
  SPEAKER_04: Boss is coming in swinging, like, oh, all right.
• 16:58
  SPEAKER_04: Damn, don't come back for that.
• 17:01
  SPEAKER_05: I mean, there are comebacks you just so okay, so Prabhupada, you said, you know, this is a bias market, right?
• 17:11
  SPEAKER_05: Yeah, what are the uh top indicators to you that this is the bias market, or what's the advice you would give for storm buyers, right, who are scared to enter the market now because they don't know that it's a bias market, like the Gen Z, right?
• 17:24
  SPEAKER_05: Like the Gen Z's, yeah.
• 17:28
  SPEAKER_00: You've been there.
• 17:29
  SPEAKER_08: So let me answer to that question with a question.
• 17:31
  SPEAKER_08: Wow, okay.
• 17:32
  SPEAKER_08: Here we go.
• 17:33
  SPEAKER_08: What scares Gen Z to get into the market now?
• 17:37
  SPEAKER_08: What is it?
• 17:38
  SPEAKER_08: Millennials millennials is uh they're they're in our they're in hibernation, so uh what what's the problem?
• 17:49
  SPEAKER_00: The problem is the the yeah, I would say the the land size that the wife wants.
• 17:55
  SPEAKER_00: That's one problem.
• 17:56
  SPEAKER_00: Okay, it's across the board, but more seriously, I think it's obviously making the repayment.
• 18:02
  SPEAKER_08: So you're telling the wife wants bigger, yeah.
• 18:04
  SPEAKER_00: Because it's always better.
• 18:06
  SPEAKER_00: Land.
• 18:07
  SPEAKER_05: Yeah, that's what we are talking about.
• 18:09
  SPEAKER_05: Land.
• 18:09
  SPEAKER_05: Yeah, just like thank god is three Sri Lankans, yeah.
• 18:12
  SPEAKER_05: We don't have you know an African American with us.
• 18:14
  SPEAKER_05: Joshua's not here.
• 18:15
  SPEAKER_05: Yeah, thank god Joshua is not on this podcast.
• 18:17
  SPEAKER_08: Again, he he he he might like small lands.
• 18:20
  SPEAKER_08: Who knows?
• 18:21
  SPEAKER_05: Um, we are talking about his ladies' life again.
• 18:27
  SPEAKER_05: We can go, we can be free, right?
• 18:29
  SPEAKER_05: No, no, but listen to the.
• 18:36
  SPEAKER_00: I mean I don't know whether you can swear.
• 18:39
  SPEAKER_08: I know we can swear don't give me that.
• 18:44
  SPEAKER_08: Um, yeah, but but but what what what what stops the Gen Z or millennials to getting into the market as a first tomb by what's what's the actual problem?
• 18:55
  SPEAKER_08: Is it is it is it the is it now you said the partner won bigger land and the price is high.
• 19:03
  SPEAKER_08: What else?
• 19:04
  SPEAKER_00: Yeah, I think also I think obviously once you you know these are people who just get their permanent residency.
• 19:09
  SPEAKER_00: So now the cost of getting your permanent residency with all the fees and you know everything you do is very expensive.
• 19:14
  SPEAKER_00: So sometimes you're coming to the market, you might have borrowing for you know 700,000 property, yeah, but you might have 20,000 in savings.
• 19:22
  SPEAKER_00: Yeah, that could be you know one problem.
• 19:25
  SPEAKER_00: Yeah, on the other hand, you would have people who have support from their parents who have a larger deposit, maybe 40-50,000, but you know, the borrowing might be a constraint.
• 19:33
  SPEAKER_00: So you know, property they're looking at is just not you know matching with their capacity.
• 19:38
  SPEAKER_05: So you know, I would say those are some of the problems that and and and and to add to that, I guess another problem that we have in our generation, coming back to a joke that Prabhu cracked, not a lot of uh generations getting married, so they don't have two incomes, it's just one income, so so that that affects servicing as well, so their borrowing power is much lower.
• 19:56
  SPEAKER_08: So the marriage is also a problem.
• 19:57
  SPEAKER_05: So it's a key factor because a lot of people are not in a relationship, or some people might be in a relationship, uh they don't want to go into buying a property together.
• 20:06
  SPEAKER_05: Yeah, why?
• 20:07
  SPEAKER_05: I guess they don't have that teamwork mindset that a lot of uh couples from your generation had not, for example, Sonali, it's always teamwork, right?
• 20:16
  SPEAKER_05: You want to jump in a well, so be like, okay, we don't need to jump in this well, let's go jump in another well in terms of property.
• 20:22
  SPEAKER_08: I'm not saying if she won't jump, I'll probably we will jump and have a look.
• 20:25
  SPEAKER_08: She's probably higher for that.
• 20:26
  SPEAKER_08: Yeah, exactly.
• 20:27
  SPEAKER_08: So yeah, give you that support.
• 20:29
  SPEAKER_08: No, so can you let me are there any any other problems?
• 20:33
  SPEAKER_08: Let me let me go one by one out.
• 20:36
  SPEAKER_08: I'll tell you, sir, land issue.
• 20:39
  SPEAKER_08: Your answer for that is compromise.
• 20:41
  SPEAKER_08: Okay, you gotta understand if you have a hundred dollars and the bank is willing to give you another hundred dollars, you have two hundred dollars to buy.
• 20:51
  SPEAKER_08: Yeah, you can't wish for a thousand dollar land, yeah.
• 20:55
  SPEAKER_08: Right?
• 20:56
  SPEAKER_08: Is as an example, okay?
• 20:58
  SPEAKER_08: You need to now look for two hundred dollar land, yeah.
• 21:02
  SPEAKER_08: And at the same time, go and have a look at the stats.
• 21:05
  SPEAKER_08: We are shortage of hundred thousand homes.
• 21:09
  SPEAKER_08: Yeah, right.
• 21:10
  unknown: Okay.
• 21:11
  SPEAKER_05: Still?
• 21:12
  unknown: Still.
• 21:12
  SPEAKER_05: So there are people who want to buy, but they just don't have it.
• 21:15
  SPEAKER_05: Does it come down to affordability of homes?
• 21:18
  SPEAKER_08: No, so it's it's it's the mindset, right?
• 21:21
  SPEAKER_08: Remember what I always tell you guys, poor man's mindset.
• 21:24
  SPEAKER_05: Yeah, poor man will always complain.
• 21:27
  SPEAKER_05: That's why we don't complain and we buy the six-dollar cup of coffee, even though you know we really can't.
• 21:32
  SPEAKER_05: We're not poor.
• 21:34
  SPEAKER_08: So if they can compromise, instead of having a 400-square meter block, go and get a 250 square meter block, get your two, three, or four bedroom house, whatever the house, the rooms, configuration you got want to do, get it within the budget.
• 21:50
  SPEAKER_08: You can do it.
• 21:51
  SPEAKER_08: But it's just the fact that you need to know how to compromise.
• 21:55
  SPEAKER_08: Now, if you're going to do the same thing, but your parents and your grandparents.
• 22:00
  SPEAKER_08: Grandparents' day, you will never win.
• 22:03
  SPEAKER_00: Different time.
• 22:04
  SPEAKER_08: It's a different time.
• 22:05
  SPEAKER_08: They had the opportunity of buying a thousand square meter block for less than what you are paying for a 200-square meter block.
• 22:13
  SPEAKER_08: They had that opportunity.
• 22:14
  SPEAKER_08: That's opportunity, no more for you.
• 22:17
  SPEAKER_08: But you can have that opportunity if you use that 200 square meter block to create wealth.
• 22:23
  SPEAKER_08: So maybe in about two years later, you may be able to buy an investment property that might give you certain benefits that might increase your net income.
• 22:34
  SPEAKER_00: Yeah, especially and if you buy in a market like this, your things turn around, all of a sudden your 95% LVR loan could be well below 80.
• 22:44
  SPEAKER_00: Once they refinance exactly.
• 22:45
  SPEAKER_00: So within a year, when you're done with your benefits and if you're looking to do some change, that could be a massive turning point.
• 22:53
  SPEAKER_08: Imagine the rate comes down from 6.2% to 5.2%.
• 22:58
  SPEAKER_00: That's an insane amount of borrowing that we're opening up.
• 23:02
  SPEAKER_08: Now then imagine that you end up buying a property instead of wishing for a million dollars, you ended up buying a property for 600,000.
• 23:11
  SPEAKER_08: You only have a loan of uh uh$570,000.
• 23:15
  SPEAKER_08: Imagine that's$600,000 property.
• 23:18
  SPEAKER_08: What would you think the value would be if the rate comes down from 6.2 to 5.2?
• 23:24
  SPEAKER_08: 680,000.
• 23:25
  SPEAKER_08: At least 10% put it up.
• 23:27
  SPEAKER_08: 660.
• 23:29
  SPEAKER_08: Right, you would have paid your 570 loan maybe$10,000.
• 23:34
  SPEAKER_05: And and we actually saw this last year when the rates were coming down.
• 23:38
  SPEAKER_05: Property prices were going up.
• 23:41
  SPEAKER_05: Yeah.
• 23:41
  SPEAKER_05: And then people are like, oh, I don't want to buy a property now because the prices are expensive.
• 23:45
  SPEAKER_05: And then this year rates are going up, so property prices are coming down, and people are like, Oh, I don't want to buy a property because the market is crashing.
• 23:51
  SPEAKER_08: It's actually it's actually the property prices are coming down is a wrong statement because it's it's not has it it hasn't come down.
• 24:02
  SPEAKER_08: It the market has got corrected, but in during these times, now GFC, we had a national home prices uh reducing by 3.5 percent.
• 24:14
  SPEAKER_08: That nationally, right?
• 24:17
  SPEAKER_08: Then 2010 to 11, we had another three percent.
• 24:23
  SPEAKER_08: Uh 1890 when the COVID hit everybody told me I think the media started as far as I can remember, media started NZ, CBA, uh big boys, big banks who started telling their the property market's gonna come down by 10 to 15 percent.
• 24:41
  SPEAKER_08: The biggest biggest drop.
• 24:44
  SPEAKER_08: It only went down by 5.3 nationally, and then 2022 when the rates started going up, or the honeymoon period of 1.99 rates, you know, that period finishes.
• 24:57
  SPEAKER_08: I think it came down about 3.6.
• 25:00
  SPEAKER_08: I mean it makes look at your numbers.
• 25:03
  SPEAKER_08: If it's a million dollar property, what is three percent?
• 25:06
  SPEAKER_00: It's matched time, we see right.
• 25:08
  SPEAKER_08: What is three percent, guys?
• 25:10
  SPEAKER_08: 30,000 right, so one million dollars now is valued at 970,000.
• 25:15
  SPEAKER_00: What really is the difference there?
• 25:16
  SPEAKER_00: Someone who can afford a one million property, you're here getting scared about 30,000.
• 25:22
  SPEAKER_08: Right.
• 25:23
  SPEAKER_08: But if you look at the the the pattern how your property has come to one million, you would have bought it maybe 750, right?
• 25:32
  SPEAKER_08: Now it's sitting at a million.
• 25:34
  SPEAKER_08: Look at the pattern of that growth.
• 25:36
  SPEAKER_08: So out of the compounding growth you had for years, it has corrected by three percent.
• 25:45
  SPEAKER_08: It's nothing to cry about.
• 25:48
  SPEAKER_08: Yeah, now if your property has never appreciated from 750, Alice Springs, right?
• 25:54
  SPEAKER_08: Right, right, it has never appreciated and you bought it for 750, it's already 750.
• 26:01
  SPEAKER_08: In about five years later, that's a roof for buying that property without doing the research.
• 26:06
  SPEAKER_06: That's no problem.
• 26:07
  SPEAKER_05: Go beat up the agent that's holding that property.
• 26:10
  SPEAKER_08: See, those now that is a problem.
• 26:14
  SPEAKER_08: You need financial planners and and specific people who knows about the property, who knows about the restructuring, who knows about negotiations, who can help you.
• 26:25
  SPEAKER_05: So, on that, on that problem, right?
• 26:27
  SPEAKER_05: So, people who are looking at buying property instead of getting scammed by you know this dumbass and the podcast, you can say these dumbass real estate agents who come and butter, butter their asses up like it's a slice of bed just to sell a property, take the commission, and run away.
• 26:41
  SPEAKER_05: What are the things that you look at before you buy a property?
• 26:44
  SPEAKER_08: Top five things you look at before you buy an investment property or a property, location, the the the the the first thing I look at uh what is the property, what kind of rent I can get out of this property, and how many of these kind of properties are in the market in the same area?
• 27:01
  SPEAKER_08: What are they being rented out?
• 27:03
  SPEAKER_08: Okay, just want to know what's the rent.
• 27:05
  SPEAKER_08: Yeah, number one.
• 27:06
  SPEAKER_08: Then I will look at how much I can borrow against this property.
• 27:10
  SPEAKER_08: I don't want to put all my capital, I want to borrow as much as I can.
• 27:14
  SPEAKER_08: So then I have enough capital to do whatever I want with.
• 27:18
  SPEAKER_08: Then I look at what's my rate, monthly repayment.
• 27:22
  SPEAKER_08: Then I do a quick comparison of my income versus my expenses.
• 27:26
  SPEAKER_05: And also, if someone's buying this property as an investment property, they can also get a rental appraisal to help with the servicing, right?
• 27:32
  SPEAKER_05: So people who don't know about that, yeah, don't need yeah, right.
• 27:36
  SPEAKER_08: So those those two first two things I look at.
• 27:39
  SPEAKER_08: Then I will look at what is the potential capital growth this property could have.
• 27:43
  SPEAKER_05: And what's the benchmark you said?
• 27:45
  SPEAKER_05: Like five years, ten years, it's like a realistic benchmark you said.
• 27:49
  SPEAKER_08: If I invest a property at about six hundred thousand dollars, in about five years later, I would expect it to be at least seven.
• 27:56
  SPEAKER_00: Yeah, and from on that, you know, for the capital growth, something we spoke about is you know, you first turn buyers, you buy properties, uh, you know, in maybe west, more down west, because you know, southeast is now very very far from the city.
• 28:10
  SPEAKER_00: Let's say in the west of a bit closer, yeah.
• 28:12
  SPEAKER_00: Because you know, let's say Victoria, for example, it's made in pockets.
• 28:15
  SPEAKER_00: Yeah, wherever the properties come up, your value goes up because of the infrastructure.
• 28:19
  SPEAKER_00: Yes, the shopping mall, the poles, holies, yeah, you know, all of that.
• 28:23
  SPEAKER_00: So is that kind of what contributes to capital growth, would you say?
• 28:27
  SPEAKER_00: And it's other factors as well.
• 28:29
  SPEAKER_08: No, that that is definitely a contributor.
• 28:33
  SPEAKER_08: Because if if you are a tenant, if you if you're a person who's gonna rent that property, would you go and rent a property where you have to drive half an hour for holes or safely?
• 28:44
  SPEAKER_00: Well, 15 minutes would be too long now.
• 28:46
  SPEAKER_08: It'll be too long, right?
• 28:47
  SPEAKER_08: Yeah.
• 28:47
  SPEAKER_08: So now people are used to go within that five to ten minutes time.
• 28:50
  SPEAKER_08: So people are getting lazy.
• 28:53
  SPEAKER_08: Yeah, I mean, we all drive cars, you know, we're not walking to the shops anymore.
• 28:58
  SPEAKER_08: Right.
• 28:58
  SPEAKER_08: So that we back in the day, I used to have this site called uh website uh uh Walkschool, the hub.
• 29:11
  SPEAKER_05: Ah, so back in the day you guys had the hub.
• 29:13
  SPEAKER_00: It's amazing.
• 29:14
  SPEAKER_00: Before we were born.
• 29:16
  SPEAKER_05: Oh shit, you guys had internet back in the day?
• 29:18
  SPEAKER_05: We had dial up connection, by the way.
• 29:21
  SPEAKER_05: Yeah.
• 29:22
  SPEAKER_05: I mean the hub is pretty old, it's a 20 plus years old.
• 29:25
  SPEAKER_08: So you download it and wait in the street and then let it run, yeah, and then you re uh rewind it back and watch.
• 29:32
  SPEAKER_08: Oh, then it won't buffer.
• 29:37
  SPEAKER_08: Even that you asked the question back in the day.
• 29:39
  SPEAKER_08: So it's like Tesla today, basically.
• 29:43
  SPEAKER_00: Sorry, Tesla.
• 29:44
  SPEAKER_05: Yeah, man.
• 29:45
  SPEAKER_05: Testra you guys are killing us in office, honestly.
• 29:48
  SPEAKER_05: Like uh so people in Sri Lanka have better internet just to give you.
• 29:52
  SPEAKER_05: I mean, they're on Starlink.
• 29:54
  SPEAKER_05: Yeah, oh wow, they have star why why why don't we have Starlink?
• 29:57
  SPEAKER_05: Yeah, question.
• 29:58
  SPEAKER_05: Testra you're about to rose a big client, what you're saying.
• 30:01
  SPEAKER_08: Um so uh we had this walk score, right?
• 30:05
  SPEAKER_08: So so we looked at we put the property address and it'll tell us the walk score uh is walking distance to the school, or shopping school.
• 30:14
  SPEAKER_08: Like a radius, yeah, petrol station, all these things, like little things, like sometimes like convenience stores.
• 30:21
  SPEAKER_05: So these little things that we take for granted was like a big thing back in the day.
• 30:26
  SPEAKER_08: Oh, yeah.
• 30:26
  SPEAKER_08: So so this was back in 2010-11 when we were presenting uh a property investment uh uh analysis and and a proposal to a client.
• 30:36
  SPEAKER_08: We used to put the work score.
• 30:41
  SPEAKER_08: Um now, this is what this is 15 years ago, yeah.
• 30:45
  SPEAKER_08: So 15 years ago, those fundamentals are the same fundamentals, the current 2026 property owners, investors, or probably first home buyers are still looking.
• 30:55
  SPEAKER_08: Oh, it's just that now you're looking from the Google Maps or JP.
• 31:02
  SPEAKER_08: It's very simple now, right?
• 31:06
  SPEAKER_08: So as an investor, you gotta look at look into those things.
• 31:10
  SPEAKER_08: What kind of schools are there?
• 31:13
  SPEAKER_08: Child care centers, because if you don't have child care centers, then uh who's your tenant?
• 31:18
  SPEAKER_08: That means only one person's working, is it?
• 31:21
  SPEAKER_08: Yeah, yeah, yeah.
• 31:22
  SPEAKER_08: So then affordability comes in, social economy.
• 31:25
  SPEAKER_05: So only one person's working.
• 31:27
  SPEAKER_08: So one is a family looking after the kids at home, so there's one person working, so one your household income is just from one.
• 31:35
  SPEAKER_08: Something happens to that person, so there are it takes a long time to do those kind of things, so if you get married, stay married.
• 31:45
  SPEAKER_05: I mean, these days, these days people have someone on the side, you know.
• 31:48
  SPEAKER_05: So the reaction times are much faster if something happens to their partner.
• 31:52
  SPEAKER_08: Oh, okay.
• 31:53
  SPEAKER_05: Replacement, they have a replacement of standby.
• 31:56
  SPEAKER_05: Most people, not everyone, don't get upset to preserve, yeah.
• 31:59
  SPEAKER_05: They think ahead, it's like financial planning.
• 32:04
  SPEAKER_08: Yeah, all right.
• 32:05
  SPEAKER_08: So again, got slight track onto this, but um you have to so so I would mitigate certain risk that way.
• 32:12
  SPEAKER_08: That's why sometimes I don't go and invest in certain types of properties.
• 32:19
  SPEAKER_08: Sometimes may pretty much because of socioeconomy.
• 32:24
  SPEAKER_05: Yeah, the property might have a potential to grow, but if it's going to be a nightmare for me to hold it while it's growing, well, leave the nightmares to somebody else, and also basically your style of investment, you do the research, you do your analysis, and then you try to mitigate a risk to stress factor, right?
• 32:47
  SPEAKER_05: So you don't want to buy property that would be that has the potential for a higher return, but the stats that you have access to really doesn't back up that claim as much.
• 33:00
  SPEAKER_08: So you would I'm a set and forget investor.
• 33:04
  SPEAKER_08: The reason I do that, I buy, hold it, and then I come back to it in about maybe if it's a midterm investment.
• 33:13
  SPEAKER_08: I come after five years.
• 33:16
  SPEAKER_08: Alright, what can I do with you now?
• 33:17
  SPEAKER_00: It's like in Gen Ziters, it's like you know, you see a girl, it takes great flags.
• 33:23
  SPEAKER_00: Oh, oh, it's a temporary, you know, it's some I can change it.
• 33:27
  SPEAKER_05: No, but sometimes you know we like red flags, man.
• 33:31
  SPEAKER_05: Cause yeah, it's like it's like that, right?
• 33:33
  SPEAKER_00: You ignore that flag.
• 33:34
  SPEAKER_05: It's it's like the red flags, it's like buying a very sexy, unreliable car.
• 33:38
  SPEAKER_05: Like you know that car's gonna give you problems, but you're like, oh, it's so fun to try.
• 33:42
  SPEAKER_03: Like you don't like it, it's so fun to try it.
• 33:45
  SPEAKER_05: I'm gonna enjoy this car while it lasts.
• 33:48
  SPEAKER_08: It's like my Wrangler.
• 33:49
  SPEAKER_05: No, that's but see that wrangle.
• 33:51
  SPEAKER_08: I mean, it it it it it it it's it'll give you a shower.
• 33:55
  SPEAKER_05: Yeah, no, but but but that way will take you anywhere and will take us out of anywhere because when was the last time you serviced it?
• 34:05
  SPEAKER_06: I don't know, I can't remember that.
• 34:08
  SPEAKER_04: Um you like red flags?
• 34:11
  SPEAKER_00: Not right avoid sometimes.
• 34:13
  SPEAKER_00: I just don't see them.
• 34:14
  SPEAKER_08: See with the Gen Z sometimes they go out of the uh the subject.
• 34:19
  SPEAKER_05: So you can find a reference.
• 34:20
  SPEAKER_05: Yeah, okay.
• 34:21
  SPEAKER_05: So Pramu, back in the day, what do you okay?
• 34:23
  SPEAKER_05: Let's let's let's also talk about life here.
• 34:26
  SPEAKER_05: Back in the day, what did what did millennials call red flags?
• 34:30
  SPEAKER_05: Men and women, like you know, the problematic one, the one you wrote that's gonna give you a problem.
• 34:35
  SPEAKER_08: It depends on what kind of a question is it like is it is it like you know, having having having a partner?
• 34:40
  SPEAKER_08: Is that what you're asking?
• 34:41
  SPEAKER_05: Like the type of girls you fall for, like you know, like you see one, oh she's wife material, she's not gonna give me problems, but the other one's like gonna be problems.
• 34:52
  SPEAKER_08: You just gave the answer.
• 34:53
  SPEAKER_08: If it's a wife material, then depending on what you want, what did you all call them?
• 34:58
  SPEAKER_05: Like we call them red flags.
• 35:00
  SPEAKER_05: Wife material.
• 35:02
  SPEAKER_05: No, the opposite, the other one, the red flags.
• 35:03
  SPEAKER_05: What do you all call the red flags back in the day?
• 35:06
  SPEAKER_05: Those things they have come on.
• 35:11
  SPEAKER_00: I mean, they are not wife material.
• 35:14
  SPEAKER_00: They probably will tell us the word and in our next Gen Z only podcast.
• 35:17
  SPEAKER_06: Yeah, and we yeah, all right, yeah, we didn't uh Gen Z probab who's like sweating up also a bit like you know I'm no one she got what you used to call me.
• 35:38
  SPEAKER_06: Uh no.
• 35:44
  SPEAKER_06: Get back to get back to the finance, get back to the get back to the old.
• 35:49
  SPEAKER_08: What are we what are we talking?
• 35:50
  SPEAKER_08: Now we talked about uh uh uh uh method investors what I you know we're talking about.
• 35:58
  SPEAKER_00: Investing investing, investing, yeah, investing investing.
• 36:05
  SPEAKER_00: Investing.
• 36:06
  SPEAKER_05: No, okay, so so to recap what we asked, right?
• 36:08
  SPEAKER_05: The five things you look at as a property investor before you go to buy an investment property.
• 36:13
  SPEAKER_05: Yeah, the top things okay.
• 36:16
  SPEAKER_05: This is a good buy.
• 36:17
  SPEAKER_08: Yeah, so so those are the the the rent, my borrowing, my rate, and who's my tenant?
• 36:26
  SPEAKER_08: What kind of a tenant?
• 36:27
  SPEAKER_08: Right, that's the three, and then the the the the fourth one what's the potential of the property?
• 36:34
  SPEAKER_08: Can I add value to the property to create value?
• 36:37
  SPEAKER_08: I'm not specifically reliant on the market to grow.
• 36:42
  SPEAKER_08: Can I do something with it and add value?
• 36:46
  SPEAKER_08: That's four.
• 36:47
  SPEAKER_08: And number five is pretty much um what we discuss, what everybody wants and uh and uh and what sort of infrastructure, what sort of developments happening in that area, what's the demand uh in that area?
• 36:59
  SPEAKER_08: How much of properties are going to be built in that area?
• 37:02
  SPEAKER_08: If my property, if I buy now in this lay level, or if I buy a land and build a four-bedroom house at this point, in about five years later, what how much of properties are in that area?
• 37:14
  SPEAKER_08: And are they going to be three-bedders mainly or townhouses mainly?
• 37:20
  SPEAKER_08: What is it?
• 37:22
  unknown: Right?
• 37:22
  SPEAKER_08: So, depending on the locations, the the property type changes.
• 37:25
  SPEAKER_08: If you're buying in, if you get the opportunity to buy in townhouse markets, then look at are there any apartments going to be coming in in a five year term because your land has gone away.
• 37:35
  SPEAKER_08: Now there's more there's no more land, right?
• 37:37
  SPEAKER_08: So then your townhouse will grow up in value very quickly.
• 37:41
  SPEAKER_08: Yeah, so things like that.
• 37:42
  SPEAKER_08: So those are the five top things I look into before buying an investment property.
• 37:46
  SPEAKER_08: Yeah, so then I'll leave the rest of it to my accountant and the financial planners.
• 37:50
  SPEAKER_08: They they can do the rest of the mitigations for me.
• 37:52
  SPEAKER_05: Shout out to Pramost Financial Planner, also known as his wife, also uh C C double O, boss lady, lucky in that way, yeah.
• 38:01
  SPEAKER_00: Financial planner.
• 38:02
  SPEAKER_00: So she was clearly wife material, like you know, TFS has everything under one roof.
• 38:06
  SPEAKER_08: She's been married for 20 years.
• 38:07
  SPEAKER_08: Obviously, she's my wife.
• 38:11
  SPEAKER_00: Why do you think I'm living in a dream or something?
• 38:14
  SPEAKER_00: Reality, yeah.
• 38:18
  SPEAKER_00: But yeah, I think the other question I think a lot of conversations probably we have.
• 38:23
  SPEAKER_00: I have with my friends, you know, we are very much in similar groups.
• 38:26
  SPEAKER_00: Yeah, is that you know, as a first home buyer, a big discussion that goes is as a first home, do I buy let's say it's a 700,000 property?
• 38:35
  SPEAKER_00: Do I buy a brand new property?
• 38:37
  SPEAKER_00: Let's say it's a land and bill versus an established property.
• 38:41
  SPEAKER_00: Okay, that's a big debate.
• 38:43
  SPEAKER_00: Yeah, yeah, my friends go through it all the time.
• 38:45
  SPEAKER_00: Right.
• 38:45
  SPEAKER_00: To be honest, I'm on the property side, yeah.
• 38:49
  SPEAKER_00: And I'll tell you why.
• 38:51
  SPEAKER_00: Yeah, there are some uh on the established side.
• 38:53
  SPEAKER_00: So, what are your thoughts on that?
• 38:55
  SPEAKER_00: What do you think?
• 38:56
  SPEAKER_08: As a first home buyer, right?
• 38:57
  SPEAKER_08: What are the benefits you get from uh uh uh uh buying a brand new property or housing land or brand new uh completed property versus an established property?
• 39:07
  SPEAKER_08: What are the benefits that you are getting straight away, like day one?
• 39:11
  SPEAKER_00: I would tell you, like the first thing I would say, you know, you probably have said it as well, is you save on the stamp duty, even if it's 700,000 if your land is below 650, you save on stamp duty, you're not gonna ever get to save on stamp duty.
• 39:24
  SPEAKER_08: So let's imagine that you're buying something for uh 700,000, right?
• 39:28
  SPEAKER_08: So so as a first term buyer, if you buy an established property at 700,000, I think you're gonna be paying somewhere close to about 26,000.
• 39:35
  SPEAKER_00: Yeah, on stamp.
• 39:37
  SPEAKER_00: So 750 you pay the full price.
• 39:39
  SPEAKER_00: 700.
• 39:39
  SPEAKER_08: 700 you get discount there.
• 39:41
  SPEAKER_08: I think it's about 26,000.
• 39:42
  SPEAKER_00: Yeah, it's 26,500, yeah.
• 39:44
  SPEAKER_00: There you go, right?
• 39:45
  SPEAKER_08: So that's 700,000 established property.
• 39:48
  SPEAKER_08: Same area.
• 39:50
  SPEAKER_08: Let's look at buying a land, maybe a small land, yeah, but a four-bedroom house.
• 39:55
  SPEAKER_08: Exactly.
• 39:55
  SPEAKER_08: Exactly the same.
• 39:57
  SPEAKER_07: You won't pay standard.
• 39:58
  SPEAKER_08: Yeah, you're gonna save$26,000 from day one.
• 40:02
  SPEAKER_08: Exactly.
• 40:03
  SPEAKER_08: Straight away.
• 40:04
  SPEAKER_08: Straight away.
• 40:04
  SPEAKER_08: Then you have first a bonus grant of ten thousand dollars.
• 40:08
  SPEAKER_08: At that ten thousand dollars into twenty six, then you get thirty-six thousand dollars.
• 40:12
  SPEAKER_08: Yeah, yeah.
• 40:17
  SPEAKER_08: Yeah, literally.
• 40:18
  SPEAKER_08: Right.
• 40:19
  SPEAKER_08: Opposed to an established your twenty-six thousand plus, you don't get ten thousand.
• 40:25
  SPEAKER_02: Yeah, exactly.
• 40:26
  SPEAKER_08: So you're pretty much thirty-six thousand dollars down already plus the mines, yeah, plus the deposit.
• 40:33
  SPEAKER_05: Yeah, when when when Pramotal's numbers, you can really see his brain like uh work tick tick tick exactly a little bit of smoke, right?
• 40:42
  SPEAKER_08: Then then then remember there are other costs.
• 40:46
  SPEAKER_08: Your friend is not counting.
• 40:48
  SPEAKER_08: Established property, how what's the age of the property?
• 40:53
  SPEAKER_08: Yeah, what kind of maintenance gonna you're gonna have?
• 40:56
  SPEAKER_00: What type of upgrades might you have to do?
• 40:58
  SPEAKER_08: Yeah, right?
• 40:59
  SPEAKER_08: Heating from you you're heating those pairs hip.
• 41:04
  SPEAKER_06: How much is that?
• 41:06
  SPEAKER_06: Bare minimum 1500 bucks.
• 41:08
  SPEAKER_05: Yeah, and most most most old established properties are not even seven-star energy rated, right?
• 41:13
  SPEAKER_05: So they don't might not even have a solar panel.
• 41:15
  SPEAKER_05: Maybe we can get into that kind of level.
• 41:17
  SPEAKER_05: What what was the running cost of the house?
• 41:19
  SPEAKER_05: Much higher than they think.
• 41:20
  SPEAKER_05: I mean, I mean, it comes back to what Charin said, but most people want is a bigger land, which is why they would look at an established house on like a 700 square meter land versus uh at around 750,000, yeah, versus buying a house on a 300-350-square meter land in north, yeah, and they are thinking, oh, for the same price I can get a house on a bigger land, but then yeah, what they don't factor in is stand duty and then also I'm not advocating them to go and buy something in Clyde North and build a house.
• 41:49
  SPEAKER_08: What I'm saying is wait first, please, right?
• 41:53
  SPEAKER_08: Um look at the value that you have on the table.
• 41:57
  SPEAKER_08: If I am a first-run buyer, I want all my values, yeah, I want everything.
• 42:02
  SPEAKER_08: I will never leave anything else.
• 42:04
  SPEAKER_05: I mean, also, like you like you always say, the this government never gives anything for free.
• 42:08
  SPEAKER_08: So I mean you mean Australia only gives you once, yeah.
• 42:10
  SPEAKER_08: These kind of things, you might as well take it.
• 42:12
  SPEAKER_08: You never know what it's gonna change.
• 42:14
  SPEAKER_08: Yeah, exactly.
• 42:15
  SPEAKER_05: So so if we're getting things for free, enjoy.
• 42:18
  SPEAKER_00: Yeah, exactly.
• 42:19
  SPEAKER_00: Because it's it's a it's a it's a one-time thing, right?
• 42:21
  SPEAKER_05: Like that coffee we are gonna get for free.
• 42:22
  SPEAKER_05: Exactly.
• 42:23
  SPEAKER_05: We're gonna enjoy it.
• 42:24
  SPEAKER_04: Really gonna enjoy the coffee bus, you know.
• 42:26
  SPEAKER_04: It's a one-time thing.
• 42:27
  SPEAKER_04: What's every episode?
• 42:30
  SPEAKER_04: I mean it's uh it's a machine.
• 42:34
  SPEAKER_04: You know, if you get that machine, you know who's gonna be finishing the coffee?
• 42:36
  SPEAKER_08: Prabhu and Tamita and Tamita.
• 42:39
  SPEAKER_08: Tamita, we get a complex one, so he won't know how to do it.
• 42:43
  SPEAKER_00: He might break it and say, stop working, just stop working.
• 42:49
  SPEAKER_00: You know, I think Prabhu's gonna yell at us.
• 42:51
  SPEAKER_00: Oh, we buy it and put out of service on day one.
• 42:53
  SPEAKER_00: Yeah, they just know what you exactly, right?
• 42:56
  SPEAKER_08: So, um, yeah.
• 42:58
  SPEAKER_00: That's what you'd say, right?
• 43:00
  SPEAKER_00: And uh also something else on that.
• 43:03
  SPEAKER_00: So, my general argument is obviously it's that I would say, you know, you're gonna get you don't have to pay stamp duty, you're basically adding that on top of your deposit.
• 43:12
  SPEAKER_00: Again, say 100,000 probably.
• 43:14
  SPEAKER_00: That's what we're talking about.
• 43:15
  SPEAKER_00: So you it's a bit of a discount.
• 43:17
  SPEAKER_00: So that's what I would say.
• 43:18
  SPEAKER_00: You don't get to you don't have to pay that stamp duty, so you're better off.
• 43:21
  SPEAKER_00: Your out of pocket is less, you know, even if it's a slightly you know further away pocket, yeah.
• 43:26
  SPEAKER_00: Uh you still get to have a brand new property.
• 43:29
  SPEAKER_00: Yeah, and that saving is probably something let's say you have to save up that twenty-six thousand dollars.
• 43:34
  SPEAKER_00: Yeah, you know, how long is it actually gonna take you to save that up, right?
• 43:37
  SPEAKER_00: Exactly.
• 43:39
  SPEAKER_00: But on the other hand, something I always you know, let's say David's advocate here.
• 43:43
  SPEAKER_00: He said something I think is a really cool thing here in other days you buy a older property, you pay the stamp duty, yeah, the land, yeah, with a potential to subdivide it in the future.
• 43:56
  SPEAKER_08: Okay, what's the future looking like?
• 43:58
  SPEAKER_08: So let's say how are you that that's
• 44:00
  SPEAKER_05: Interesting that you brought brought that up, Prabhupada.
• 44:03
  SPEAKER_05: Now, for people who want to do that, what's the process involved?
• 44:07
  SPEAKER_05: What's the cost involved?
• 44:10
  SPEAKER_08: That's the question I'm asking.
• 44:11
  SPEAKER_08: How are you planning to do the subdivision?
• 44:13
  SPEAKER_00: Yeah, so you know, I you probably know a lot more about the property side than I do, but you know what I would say is you know, obviously over time, yeah, your income is going to, you know, hopefully gradually increase.
• 44:25
  SPEAKER_08: So what's your timeline?
• 44:26
  SPEAKER_08: We what are we looking at?
• 44:27
  SPEAKER_00: Three years.
• 44:28
  SPEAKER_00: Three to yeah, three to five.
• 44:29
  SPEAKER_08: Okay, five years.
• 44:30
  SPEAKER_08: Let's hit hit five years.
• 44:31
  SPEAKER_08: Yeah.
• 44:32
  SPEAKER_00: Five years, you can if you know if you really want, you keep the unit in front.
• 44:35
  SPEAKER_00: Yep.
• 44:35
  SPEAKER_00: Build the unit at the back.
• 44:37
  SPEAKER_02: Yeah.
• 44:37
  SPEAKER_00: You obviously, if you want, you can make that your property.
• 44:40
  SPEAKER_00: You move into that one.
• 44:41
  SPEAKER_02: Yep.
• 44:41
  SPEAKER_00: Rent out the property in front of all good.
• 44:45
  SPEAKER_08: That's that's honeymoon.
• 44:46
  SPEAKER_08: You're talking about the honeymoon time.
• 44:47
  SPEAKER_08: Exactly, right?
• 44:52
  SPEAKER_08: Actual, actual.
• 44:54
  SPEAKER_08: Yeah.
• 44:54
  SPEAKER_08: So marriage first, right?
• 44:55
  SPEAKER_08: Yeah.
• 44:56
  SPEAKER_08: Discuss the wedding.
• 44:57
  SPEAKER_08: Exactly.
• 44:58
  SPEAKER_08: So cost of the wedding.
• 44:59
  SPEAKER_08: The actual cost of it, right?
• 45:00
  SPEAKER_08: It's not as straightforward as we think.
• 45:02
  SPEAKER_08: After the wedding, talk about the cost of the wedding.
• 45:04
  SPEAKER_08: Yeah.
• 45:04
  SPEAKER_08: Now your good plan.
• 45:06
  SPEAKER_08: Beautiful plan.
• 45:06
  SPEAKER_08: This is why I always ask.
• 45:08
  SPEAKER_08: If you want a bigger land, you gotta have a plan for it.
• 45:13
  SPEAKER_08: Yeah.
• 45:13
  SPEAKER_00: So this is specifically for people who are looking to buy big lands.
• 45:16
  SPEAKER_00: Yeah.
• 45:16
  SPEAKER_00: Well, that's okay.
• 45:18
  SPEAKER_00: You went to subdivide to have something.
• 45:19
  SPEAKER_00: Yeah.
• 45:19
  SPEAKER_05: Slap, ladies and gentlemen.
• 45:20
  SPEAKER_05: If you like it big, Pramos about to explain why medium is better.
• 45:24
  SPEAKER_08: Why medium is start with small and then work your way to the big colors let you down.
• 45:36
  SPEAKER_08: So how long one of the first things I will ask them, how long did it take for you to come up with your deposit to buy your first home?
• 45:48
  SPEAKER_08: What was the timeline?
• 45:50
  SPEAKER_00: Yeah, I mean, I would say it would probably be two, three years given the cost of the you're you're doing way better than average Australian.
• 45:59
  SPEAKER_08: Average Australian takes twelve years for a deposit to house.
• 46:03
  SPEAKER_08: So if you're coming in two or three years' time, that means you're getting some sort of help from your somewhere.
• 46:08
  SPEAKER_08: Yeah, yeah.
• 46:09
  SPEAKER_08: Okay.
• 46:09
  SPEAKER_05: So you got some hustle on the side that's a good thing.
• 46:12
  SPEAKER_08: Yeah, I mean you're working hard.
• 46:13
  SPEAKER_08: I mean you're getting you you you you're doing something different.
• 46:17
  SPEAKER_08: Okay.
• 46:17
  SPEAKER_08: So taking two to three years to come up with your bare minimum deposit, most likely a five to ten percent.
• 46:24
  SPEAKER_02: Yeah, right.
• 46:26
  SPEAKER_08: So that will vary between fifty thousand to maybe eighty thousand.
• 46:31
  SPEAKER_02: Yeah.
• 46:32
  SPEAKER_07: Right?
• 46:34
  SPEAKER_07: That's two years five.
• 46:36
  SPEAKER_07: I think it's three years.
• 46:37
  SPEAKER_02: But yeah, so three years.
• 46:40
  SPEAKER_07: Now you're taking a mortgage for 30 years, which comes with expenses too.
• 46:47
  SPEAKER_08: Usually about 30 to if you do it right, between 30 to 45 percent of your net income goes to the mortgage.
• 46:55
  SPEAKER_08: Right?
• 46:57
  SPEAKER_08: Then you gotta have your expenses, which is daily expenses, then you gotta have your life as well.
• 47:04
  SPEAKER_08: Unless you don't want to have life, you can just go super saiged.
• 47:10
  SPEAKER_08: That will go to five years, you gotta continue that for five years.
• 47:18
  SPEAKER_08: Also hope for your income to be at a level so you can borrow that borrow the equity, yeah, and then start paying for town planners, architects, builders, council, lawyers.
• 47:37
  SPEAKER_08: So if you're thinking of subdividing uh property into two, you gotta have a bare minimum of fifty thousand to seventy thousand dollars right now in 2026.
• 47:50
  SPEAKER_00: To plan for it.
• 47:52
  SPEAKER_08: This is your spending, you're not borrowing.
• 47:54
  SPEAKER_08: You you you you we won't get to borrow.
• 47:57
  SPEAKER_08: I mean, depending on the borrowing, you can borrow from liquid, but you need to have that money to spend for professionals to just get the you know, okay and a plan to get the blueprints in order to build the investment like that.
• 48:11
  SPEAKER_05: That's put your idea on a paper, yeah.
• 48:14
  SPEAKER_02: Exactly.
• 48:15
  SPEAKER_08: Right.
• 48:16
  SPEAKER_08: Then once you put the idea on a paper, then you gotta look at what's the construction cost in five years' term.
• 48:22
  SPEAKER_08: You're here now, but in five years' start, how much would it be in five years' term?
• 48:28
  SPEAKER_08: Everything goes up.
• 48:30
  SPEAKER_08: Okay, so if you're thinking that your income is also going up in five years, also think construction cost and the labor cost is also going up.
• 48:43
  SPEAKER_05: And if you're trying to do this for yourself, then you know possible give you a handsome race in five years, brother.
• 48:52
  SPEAKER_08: But you can do it, but you are to do it in the right way.
• 48:58
  SPEAKER_08: You can't do that to your first home.
• 49:01
  SPEAKER_08: Look, probability of you doing in your first home is very, very low.
• 49:06
  SPEAKER_00: It's a very long-term, long-term strategy.
• 49:09
  SPEAKER_00: Long-term game, right?
• 49:11
  SPEAKER_05: Yeah, and that comes down to again what you just enlighten us with the lack of education, because people think, oh, buy a buy a house, big land, yeah.
• 49:22
  SPEAKER_05: I can build a house in the back.
• 49:23
  SPEAKER_08: Yeah, but the the the actual concept of buying a land because land appreciates, building depreciates, right?
• 49:32
  SPEAKER_08: You all know that, and they're literally taking it as religion.
• 49:37
  SPEAKER_08: If I have a bigger land, it will go up.
• 49:40
  SPEAKER_08: That means I'll have more equity.
• 49:41
  SPEAKER_08: Not necessarily.
• 49:43
  SPEAKER_08: If your bigger land is sitting in a whoop poop area, has quite a long drive to other places, you don't have that much of value in offer for your dirt.
• 49:55
  SPEAKER_08: Unless you have a beautiful house on that dirt that people like to come and live in the house because it's a lifestyle purpose, then people will start paying more money for that, including the land.
• 50:08
  SPEAKER_08: Right?
• 50:09
  SPEAKER_08: That's how you add value to the dirt.
• 50:12
  SPEAKER_08: So you're buying a piece of dirt end of the day.
• 50:15
  SPEAKER_08: Yeah, yeah.
• 50:15
  SPEAKER_08: Right?
• 50:16
  SPEAKER_08: And you want to then think ahead of subdued.
• 50:19
  SPEAKER_08: It's what I always I always say, what's on that what matters, end of the day.
• 50:25
  SPEAKER_08: I want to buy a farm.
• 50:27
  SPEAKER_08: He likes we want to play play around with snakes, so I want to ride horses.
• 50:33
  SPEAKER_08: So you need to buy horses, yeah.
• 50:35
  SPEAKER_00: And so they starts promoting what uh what'll take you longer to subdivide your first property in two or to farm and other horse.
• 50:45
  SPEAKER_08: See, that's that's but that this is why this is why he's he's looking for uh a partner.
• 50:52
  SPEAKER_08: He's he's he's in the market, by the way.
• 50:54
  SPEAKER_05: Um ladies, if you're listening, we're gonna put on.
• 50:56
  SPEAKER_05: I'm gonna wear a cowboy outfit, she's gonna wear a cowgirl outfit, and then you know it's not that we won't know what's gonna happen.
• 51:06
  SPEAKER_08: His financial plan is to get a partner with with financial uh uh sugar uh someone with brains, he he he won't he is looking for that.
• 51:22
  SPEAKER_05: I reckon that's that's that's someone someone mature, smart, who can really uh you know about 45.
• 51:29
  SPEAKER_05: I mean I can take care of I can tend to her needs and she can oh my god now this you see now this is all right finance and property podcast, mate.
• 51:43
  SPEAKER_00: Cheers, yeah, cheers, yeah.
• 51:46
  SPEAKER_00: Mine was done, I just had a drop.
• 51:47
  SPEAKER_00: Yeah, just for the all right.
• 51:49
  SPEAKER_05: So this is you know Gen Z millennial, yeah.
• 51:54
  SPEAKER_05: This is a special collaboration podcast.
• 51:56
  SPEAKER_05: What are some of the top three issues you see in Gen Z and Millennials when it comes to going about life getting and then you know and their future?
• 52:15
  SPEAKER_08: I can I I can I can I can I can do this.
• 52:18
  SPEAKER_08: So common things I have seen between nothing, literally nothing.
• 52:26
  SPEAKER_08: Right.
• 52:27
  SPEAKER_08: One number two reacting to noise, social media noise.
• 52:33
  SPEAKER_08: My god, you zenzies react like crazy.
• 52:37
  SPEAKER_08: Number three, you guys wait way too long, it's very hard for y'all to recover because you get yourself hurt way too much.
• 52:50
  SPEAKER_08: God damn that was that you fix that three, you will be fine.
• 52:56
  SPEAKER_04: Oh my god, Dr.
• 52:57
  SPEAKER_04: Dre.
• 52:59
  SPEAKER_04: Rot dies.
• 53:03
  SPEAKER_08: No, but think about it in practical aspect, right?
• 53:05
  SPEAKER_08: You know, you you guys, you you guys trying to date online.
• 53:08
  SPEAKER_05: Oh, that's a good one.
• 53:09
  SPEAKER_05: How did you guys approach women back in the day?
• 53:12
  SPEAKER_05: Like pick up girls, just in person, like just go up to her and yeah.
• 53:16
  SPEAKER_08: I mean, you can reap you can reap so many things.
• 53:19
  SPEAKER_07: The body language, the way way way, way, the way she wears, the way she speaks.
• 53:24
  SPEAKER_08: You will see the person.
• 53:26
  SPEAKER_08: Who is that person?
• 53:28
  SPEAKER_08: You won't see this person because you guys are on online.
• 53:32
  SPEAKER_05: There's a lot of filters.
• 53:34
  SPEAKER_05: Yeah, so back in the day, girls really couldn't catfish men, could they?
• 53:38
  SPEAKER_06: What about catfish?
• 53:39
  SPEAKER_05: Like, you know, you don't know what catfishing boss, okay.
• 53:43
  SPEAKER_05: Like on Instagram, there's nothing like on Instagram, on their pictures, they're like, Wow, see them in person or like ow.
• 53:53
  SPEAKER_05: No, it was just wow wow, ow.
• 54:04
  SPEAKER_04: Yeah, we can we can like do it apple lag at a paper, you know, that's a saying, you know.
• 54:10
  SPEAKER_08: We we had that, but we'll get to that very quickly very quickly.
• 54:20
  SPEAKER_06: Let me let me go closer and have a look.
• 54:22
  SPEAKER_06: Uh actually, I'm just going down there.
• 54:24
  SPEAKER_05: Yeah, and this is for men and women both.
• 54:27
  SPEAKER_05: They're not just talking about men can't yeah, exactly.
• 54:30
  SPEAKER_05: We are talking about women, but women talk about men, you know, back in the day.
• 54:34
  SPEAKER_08: Yeah, but imagine these are the human things, right?
• 54:37
  SPEAKER_08: This is this is not something.
• 54:38
  SPEAKER_08: You want to present yourself, yeah.
• 54:41
  SPEAKER_08: Yeah, so so so this is these are some of the issues that Gen Z's are having.
• 54:46
  SPEAKER_08: Um, and and again, reacting to noise.
• 54:50
  SPEAKER_08: I just sometimes don't understand.
• 54:53
  SPEAKER_08: Um all right, boss.
• 54:55
  SPEAKER_05: So then let's end this podcast with three pieces of advice from a millennial to the Gen Z.
• 55:01
  SPEAKER_08: Oh three pieces of three pieces.
• 55:04
  SPEAKER_08: Okay, that's that's a good one.
• 55:06
  SPEAKER_08: Okay, um get yourself a job and go and commit to that job that way you will start earning money.
• 55:19
  SPEAKER_07: Then learn how to be a champion of the money that you earn, which means savings, taxation, investments.
• 55:32
  SPEAKER_07: Right get yourself that education, you need that.
• 55:38
  SPEAKER_08: Then the third, fast track yourself ten, twenty, thirty years, and see who you are in ten years, what you can, what you want to be in twenty years, and how you're living your life in thirty years.
• 55:56
  SPEAKER_08: Once you have a clarity of that, start doing the work now.
• 56:00
  SPEAKER_08: So there's a little bit of a law of attraction in that uh you need to know where you're getting going, right?
• 56:06
  SPEAKER_08: Otherwise, you guys are just going to waste your life.
• 56:11
  SPEAKER_05: Very last question.
• 56:12
  SPEAKER_05: What is the law?
• 56:12
  SPEAKER_05: What is what is the second last question?
• 56:14
  SPEAKER_05: Second last question.
• 56:19
  SPEAKER_04: This is a good one.
• 56:19
  SPEAKER_04: This is a good one.
• 56:20
  SPEAKER_05: What is the law of attraction to you?
• 56:22
  SPEAKER_05: Or what what have you used for yourself in terms of the law of attraction?
• 56:27
  SPEAKER_08: Oh, uh, dude, that's the different my god, we can talk hours on that.
• 56:33
  SPEAKER_08: But if I if I if I if I if I said very quickly, because Gen Z, we like short talk content, you know.
• 56:40
  SPEAKER_08: It is what you desire, end of the day, right?
• 56:45
  SPEAKER_08: That's your actual desire.
• 56:48
  SPEAKER_08: If you desire to have a BMW car and it's a black car, and uh I'm telling you what what what I used to imagine, and right, um, if it's a black car and and and the seats need to be uh lighter color, leather seats, and I want to feel the car, drive, then work hard, earn money, go and buy that car.
• 57:13
  SPEAKER_08: And buy the same thing.
• 57:14
  SPEAKER_05: He basically just spoke about his BMW, his baby girl, his way, your first PMW?
• 57:20
  SPEAKER_08: First PMW, 320i, my first BMW.
• 57:24
  SPEAKER_08: Exactly what I wanted.
• 57:25
  SPEAKER_08: I bought it exactly the way I wanted it.
• 57:27
  SPEAKER_05: Oh, I thought you were talking about M4 competition.
• 57:29
  SPEAKER_08: No, it's not.
• 57:30
  SPEAKER_08: No, see, you gotta work your way towards an M4.
• 57:34
  SPEAKER_05: So be realistic with your goals, yeah.
• 57:37
  SPEAKER_00: I mean not the same, no, you aim for the stars and you at least land on a coconut tree first.
• 57:41
  SPEAKER_00: Absolutely.
• 57:42
  SPEAKER_00: But it went to get to the stars, yeah.
• 57:44
  SPEAKER_02: Yeah.
• 57:44
  SPEAKER_00: Because you can get there.
• 57:46
  SPEAKER_05: Or you aim for Mars and land on the moon.
• 57:48
  SPEAKER_08: You to go to stars, first of all, you need to find a rocket, right?
• 57:51
  SPEAKER_08: So then you gotta find where's the rocket.
• 57:54
  SPEAKER_06: I mean, get on to the bus, start going towards the rocket.
• 57:58
  SPEAKER_05: I mean, I mean, there are rockets you can roll roll up these days, you know.
• 58:02
  SPEAKER_08: If you use it right, you can uh you can manifest.
• 58:07
  SPEAKER_05: All right, so thanks, boss.
• 58:10
  SPEAKER_05: Uh, with that being said, uh China, let's let's let's do this.
• 58:12
  SPEAKER_05: Man, you you do the sign out today.
• 58:14
  SPEAKER_08: So so can can I can I do the uh no boss, you you sign all right done.
• 58:19
  SPEAKER_08: Special outro.
• 58:20
  SPEAKER_05: Let's do this.
• 58:21
  SPEAKER_08: Yeah, um, thank you all for listening and watching.
• 58:25
  SPEAKER_08: Support these two boys.
• 58:27
  SPEAKER_08: Brilliant, brilliant boys.
• 58:29
  SPEAKER_08: They both are single, by the way, ladies.
• 58:31
  SPEAKER_08: They'll be in Colombo in December.
• 58:33
  SPEAKER_08: You can see them in uh definitely in Park Street News.
• 58:37
  SPEAKER_08: These two boys are will be there, so come down during during Christmas time.
• 58:42
  SPEAKER_00: Um they are looking for listening to this.
• 58:49
  SPEAKER_05: Stay tuned for the next episode.
• 58:52
  SPEAKER_05: Thank you for tuning in to another episode of the PFS podcast where we are not into action and pick tools into real results.
• 59:02
  SPEAKER_05: Don't forget to like and subscribe and share this episode if someone is working towards the next financial step.