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How To Get A Mortgage When You Work For Yourself. · The Curve

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In today's episode, we are going to be going through five key things that you need to know,
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think about, and be putting in place if you are a business owner, a solopreneur, an entrepreneur.
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Basically, if you're not on a salaried role.
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A freelancer, a contractor.
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Yeah, the whole thing.
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What do you need to know?
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What do you need to put in place to make sure that
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you are able to get a mortgage and buy a house if that's something that you want to do?
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Welcome to another episode of The Property Podcast.
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I am loving this series.
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It's so
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fun to be able to talk about a different asset class.
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I mean, it's been years that we've spoken
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about the stock market.
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So to be able to really dive into property, I'm loving.
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The Property
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Podcast, if you have not listened before, is for anyone, regardless of where you're at in your
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property journey.
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So if you have never bought a house before, if you're trying to buy your second
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house, if maybe you're looking at an investment property, this is designed to be super helpful,
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regardless of where you're at in your journey.
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Home ownership can feel pretty complicated the
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best of times.
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And if you're self-employed, it can feel like you have to submit your life story.
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I'm talking a blood sample and your receipts from like the last three coffees just to prove
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your income.
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The good news is BNZ Home Loan partners deal with this stuff every day and
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they can support you through the process from search to settlement.
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So instead of guessing
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what you might be able to do, you can actually see what's possible for you and navigate the
1:18
process with a bit more confidence.
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Because no two paths to home ownership look the same.
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You
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can be self-employed, employed, buying with a mate, buying solo, or lining up your next investment
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and pretending that you're just browsing.
1:30
Whatever your situation, there are tools and options that
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can help.
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If you want to talk it through, book an appointment with BNZ Home Loan Partners and get
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started today.
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So today we are talking about mortgages.
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Mortgages, I wish they had a cooler
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name.
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It reminds me of like WART or something.
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I don't know why.
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It's like a house loan.
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Yeah,
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that's kind of cuter.
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I like it.
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It's like your Propel wealth loan, you know, like it helps you
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leapfrog yeah your leapfrog loan oh i like that that's quite fun work in progress work in progress
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yeah yeah we were talking about mortgages i would love to know why they're called that it's whoever
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named it really could have got more original but so for anyone that has missed any of the property
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podcasts so we do one a month and it's really fun to have like a dedicated time just to talk about
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property the reason it kind of came about honestly was because i was so determined to get a house
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What is your face?
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Vic's just doing a really funny face
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Oh I've just googled
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Why is mortgage called mortgage?
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Why is it called mortgage?
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It comes from the word
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An old French word
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Mort is dead
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Oh god
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And gage is pledge
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Dead pledge
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So a mortgage literally means
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You're dead pledge
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Ugh
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No wonder
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Why?
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Because back in the medieval times
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The deal was basically
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If you paid back the loan
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The pledge was dead
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So it was like finished
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And gone forever
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Or if you didn't pay it back
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The lender kept the land
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Oh whoa
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So it's all about the pledge dying
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because you eventually pay it back.
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Not you dying.
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Holy shit.
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It's from Medieval Times.
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Wow.
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That's a pub quiz question, surely.
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That's a really fun fact.
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Yeah.
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That's a really fun fact.
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Also, it's so weird to even think in the Medieval Times
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that they were buying houses.
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I know.
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That sounds like such a naive, privileged,
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closed-minded thing to say,
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but the idea of the Medieval Times,
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it just feels like a fiction book.
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I just cannot even imagine living in it.
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I remember when I bought my house in New Zealand
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and I had to fill out, it was for insurance,
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and it was like when was the house built?
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And I looked up and it was built in 1910.
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Which is quite old for New Zealand, right?
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Then I Googled 1910 people and it was people in like corsets
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and like kind of horse and cart type vibes.
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And I was like, wow.
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And I looked at my hallway and I was like, wow,
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those kind of people would have been walking up and down my hallway.
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That is so bizarre.
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I know.
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I was like, if they could see us now.
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And then I was like, wow, imagine what people would think in another 100 years' time when they're going.
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They look at our outfits and they're like, oh, wow.
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Back in the day when they lived like that.
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I always think that because when I think back to ye olde ancient times, I think if I think of 1910, I'm like, oh, 100 years ago, not that long ago.
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But then you look at how they were living and what they were wearing.
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And how far we've come.
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It blows your mind.
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So then to think of the medieval times.
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I mean, when was that?
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Oh, 500 AD.
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Roughly 500 to 1500 years ago.
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Wow.
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So if you think about the horse and cart.
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I love medieval movies.
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Making your own butter and wearing corsets was only 100 years ago.
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Imagine what life was like 1500 years ago.
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Yeah.
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Oh, it blows my mind.
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No electricity, no running water, no heating except for fires.
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They didn't have any medicine
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Do you know what though?
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I will say
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At the time
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They must have thought
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God imagine living
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A hundred years ago
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You know
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Maybe they wouldn't have
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Had any context though
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Because you wouldn't have
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Had the internet or history books
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You wouldn't have known
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Chachapiti
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Yeah
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Maybe you didn't know
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I do think
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Ignorance is bliss
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What you don't know
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Does not hurt you
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Imagine just knowing
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Your village and that's it
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How beautiful
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It'd be much easier
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To find a husband
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Wouldn't it?
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Well you'd have a pick
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Of probably one person
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Fine
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Don't give me options
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I get overwhelmed
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Well they wouldn't know
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they had options either so they would think you're amazing you'd think they're amazing so true
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there's no sitting at home scrolling on social media oh my dming some other chicks from another
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village the fact that mortgages have been around since this time is quite crazy isn't it yeah
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god even trading you know you're trading commodities you're trading coal you're trading
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gold like all of that it's quite mortgage back in the day would have been things like yeah
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cattle or yeah or you know animals or things it wouldn't have been probably money right
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it would have houses yeah but they would have been buying the houses and paying their mortgages off
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with stuff like animals or sugar or hessian flour yeah so i guess i mean this is actually
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really not what we had planned for this episode to talk about the medieval times however
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fascinating and i do think you know when we talk about different asset classes or growing wealth
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or investing in things, to think that having a house, having a home,
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has been something that people have wanted to invest in since the dawn of time
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is a really interesting way to think about it.
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People have wanted security.
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They've wanted land, ownership, like all of that,
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and what it means in terms of independence and freedom.
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Yeah, it is quite fascinating that that is still such a tangible thing
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that people want.
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And the way that you can pay for it and the deposits that you put down
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and who you're buying from, all of that's changed,
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but the premise is the same.
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And, you know, the fact that mortgages, you know,
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the deed is dead once you've paid it off.
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I mean, honestly, when you first said that,
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I thought it's because probably most people have died
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by the time it's paid off.
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Which, to be honest, if you think about it, you know,
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for most of us getting a 30-year mortgage,
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which is pretty standard, that's, I mean,
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you're quite old by the time you've sorted it out.
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Imagine going to a bank and being like,
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can I please have a dead pledge?
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And they'll be like, sorry, what?
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It'll be like a dead pledge.
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And they'll be like, sorry, I don't know.
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A mortgage, duh.
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It's a bizarre but ancient concept.
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Yes.
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You want a thing?
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Cool.
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I have some money to help you get that thing.
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I will lend it to you and you will pay me an interest rate to compensate for my loan.
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I mean, it's pretty standard amongst lots of things now, right?
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Yeah.
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I think when it comes to a mortgage, it's really important to frame the whole thing.
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I mean, I know that this entire conversation I've been like, mortgage is such a scary word.
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what I really don't think helps anyone is to be scared yeah of a mortgage it's kind of the reality
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it comes with the idea of owning a house I think for me I didn't stop and allow myself to freak
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out about it because and I know you did when you first went into debt it was like wow it's a lot
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of debt I think just the number on the screen you know when you go into your bank account all of a
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sudden it's like negative a million I think that's why I don't have it on the same like I have it in
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a different bank for that reason because they just don't need to be seeing that every five seconds
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out of sight out of mind but the entire point of this episode is to essentially
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talk about home buying and try and make it less scary particularly if you're not on a classic
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salary because traditionally you know most of us have gone for our what's it called again
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dead pledge when we're in a salaried role and over the last 10 years more and more people are
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freelance more and more people are starting their own businesses and unfortunately because you're
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getting your dead pledge from an institution that has been around for a while and has really
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traditional ways of like proving whether or not it's okay to lend you money and like sense checking
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and risk yeah you know doing a lot of risk analysis to make sure that they're not putting
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themselves in you know a terrible situation by loaning you money I think that there's not as
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much awareness around how to apply if you're a self-employed or business owner and for me going
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through this process was a pretty, I would say a very steep learning curve was quite frustrating.
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If I'm being totally honest, I found it really quite hard.
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And I think it's just because I didn't
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have the facts or the knowledge far enough in advance to be able to prepare for the moment
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I then wanted a mortgage.
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So it was kind of reverse engineered.
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Because I think that's
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so true, right?
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The process starts before you walk into the bank.
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Like the process starts in
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terms of like okay get your finances in order pay you pay off your debts make sure you've got
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consistent you know like just get your we're going to go through it but i get all your documentation
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all of that so that it is a much more easy streamlined process but you're right like
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these institutions have dealt with people that have been salary jobs forever and ever so of
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course that's why this that's how the systems are set up and now you've got these people being like
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I've got three businesses they're like computer says no yeah yeah yeah and I yeah and I think how
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was that process for you um because I was a salaried employee when I got mine yeah so now
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would be quite different I think it is really different I had talked about wanting to get a
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mortgage and buy a house for for years before I moved to London which now was like three years ago
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my goal I wanted to have a house before I moved it felt like this not just tick but it felt like
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a really clever thing financially to do knowing that it was going to gain value over a long period
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of time I wanted and I knew most people moved over to the side of the world and unless you're
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a banker or a lawyer you're not exactly making stunning money and I didn't want to come back
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as a I don't know I just the idea of coming back with no money nothing to my name having had a
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great time you know I just I just didn't want to be you know yeah that person that was like sometimes
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I bought just memories and I'm like yeah I want memories but I left just footprints yeah shut up
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um I I think it's good sometimes put deadlines in it was a goal it was basically giving myself a
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a deadline I think it's really yeah good in terms I mean I didn't make the deadline
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I left you kind of did no I didn't remember I left New Zealand this was because this was two
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three years ago so I left New Zealand and I was like damn well there goes that dream
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and it was because we just started the curve had been going for maybe a year and a half
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yeah and we were not paying ourselves enough but I look at this now and I think if I'd known what
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I did at that time or when we first started the curve I could have applied for a mortgage so much
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sooner I had in my head that as a business owner or a unemployed as a self-employed person it's
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way harder oh no I kind of thought it was impossible my mindset towards it was if you
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don't have regular salary so like the same amount of money coming in for two years minimum
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don't even think about it.
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I feel like that is a myth that we've been told because I definitely
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heard that as well.
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I can't remember who told it to me but I just had it in my head that there was
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just no point in even exploring it so I never even had a conversation with a bank with a mortgage
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broker I never considered it I just thought I've started this business this is what we're focusing
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on and like the housing's just gonna have to take a back seat.
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And I think that's that's such a good
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thing to do right is to engage in a mortgage broker like as early as possible be like okay
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this is my intention.
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I want to have a house in the next six months.
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What do I need to sort out?
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And they'll be able to tell you, okay, well, red flag,
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you're, I don't know, taking money out of your credit card.
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To buy margaritas on a Saturday night.
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Yeah, they're like, no, no, no, no, no.
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Or you've got a terrible credit score.
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You're going to need a high deposit.
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Pay off your fine.
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Yeah, they're just like,
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they'll be able to kind of give you full visibility.
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And the great thing about mortgage brokers is that you don't pay them.
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The bank pays for them.
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You just mentioned do it six months before.
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I honestly think even if you feel years away from being ready to buy a house, but you know it's something in the future that you would like, I wish I'd done this five years ago.
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So having conversations and just knowing what you need to have in place I think is super important.
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And what we'll get to later in this episode is the sorts of things and the ways that your business needs to be set up to, to be able to position yourself properly for a mortgage.
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But basically what happened for me is I hadn't had any conversations with mortgage brokers, with banks, nothing.
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I just had taken almost like in the same way I genuinely thought your eyeballs popped out of
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your face if you sneeze with your eyes open I just believed that from a child because someone
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told me once and I always believed it so I never did any digging to figure out that's not true or
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you actually could think about a mortgage funny what we believe but we just run with the ball
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also I just I think that the the amount of people that have gone for mortgages as a self-employed
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person is less so you don't hear that many stories it's like you're gonna lose all your
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money in the stock market and then everyone just thinks you yeah don't invest in the stock market
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because i don't want to lose my money it's like no no no so i didn't have a conversation and then
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when i got to the point where i was like okay i've got them i've got a deposit i really want
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to make this happen luckily we'd set the business up in a way that was not a lifestyle business we
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were absolutely not putting ubers and yes yeah dinners out or our rent or things through the
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business.
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We had a very strict expense policy.
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But you know, there's obviously, and again,
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that's I think the difference between if you're running a business.
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Well, that's one of the key
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things, right?
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To separate your personal and your business because that, trying to unwind that for
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a bank is so difficult and can take months, if not years.
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Also with the proof, you kind of have
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to, you can be like, oh, I paid for this.
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This is what it was for, but it's just as messy.
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And so
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when I started having these conversations,
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I went to mortgage brokers and I,
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because I was based in the UK,
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so I had a UK salary.
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If you're overseas,
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it's really hard.
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They'll like,
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for me,
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I know they halved my salary as their baseline for what they were considering.
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I'm just like,
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wow.
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In this day and age,
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overseas income is not recognized as legitimate income.
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Do you know what I mean?
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Like even when I was applying for a rental here in the UK and I had all these
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savings in New Zealand and they were they were like oh no we can't take that and I was but I was
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like but it's money just because it's sitting offshore doesn't mean it's any less valuable
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I don't know it's where crypto is gonna come in I think yeah it's just so it's very archaic so I
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basically I had a bunch of conversations with mortgage brokers and they said I just got a
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straight up no you're not gonna be able to do this and it was frustrating because it wasn't just
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the idea of us being what about that lady she just laughed at your face yeah and she was like
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i'm the best mortgage broker in new zealand if i can't make it work shout out to her whoever she
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is sophie has two houses yeah it's like it's like my english teacher when i failed english
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i failed english miserably i absolutely hated it and then when we got offered
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oh a book writing deal two book writing deals did you write into english teacher no but i wanted to
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do it just to spite yeah yeah yeah look at me now sucker see my name where's yours do you have a book
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i yeah so i had a few conversations she was really incredibly um i would say condescending
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and also quite which from a female not sorry i'm not saying that that's okay to come from a male but
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where's the female where my girls at where my girls at we're gonna lift each other up here
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you know like honestly it was a shame because i think had i not been a dog with a bone i would
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have probably just taken that as gospel in the same way i took as gospel that when i you know
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when i was just working for myself i couldn't even think about having a loan which is sad because so
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many people would take that and go back and not fulfill their dreams and fulfill their dreams be
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really gutted i think it's a really good learning for anyone that wants to buy a house if you know
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anyone that is thinking about buying a house or maybe they're just self-employed and they don't
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have a home yet.
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I think it's really, really important to send them this episode so they
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know it's possible and to start thinking about it because there are heaps of other things you
17:14
can invest in.
17:14
We all know the stock market's amazing.
17:16
There's crypto, there's gold, there's
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so many things you can invest in, but your, I've forgotten it again, your dead pledge,
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i.e.
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your mortgage, is an amazing way to propel your wealth and to be able to compound returns.
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so don't listen to anything anyone says apart from this podcast yes but I went into I ended up
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actually being uh I was really lucky there was a the private wealth team that ended up working with
17:44
me on my mortgage because there was just so much complexity I think it's really different if you're
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locally in a country and your income is coming from that country it's very different I was
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a business owner based in London there was there was many many hurdles to jump through so it's
18:00
quite different for me yeah I definitely didn't go through it the normal way but I think that in
18:04
itself was a really important thing to know there are different groups at banks or different you
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know there is a wealth team so then if you have a really successful business or your business has
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heaps of money in the bank or you're just in a unique situation I think remember it's yeah if
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you get computer says no there's lots of other ways that you can prove your validity of getting
18:24
totally and i don't i think yeah don't take your first no as the end of your dream i think that's
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really important if someone says no go talk to someone else yeah talk to a whole bunch of people
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and if anything it's gonna be information gathering that you can take on board to improve
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your situation so then you do get some yeses down the track but i think when it comes to yeah being
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a freelancer contractor business owner it's there is a way it's just it's a little bit it's just not
18:48
a straight line it's a little bit more wiggly so yeah you just need different levels of proof i
18:53
think as well as kind of being prepared in advance yeah I think that the last thing you want to do is
18:58
try when you haven't done any prep and then be trodden on and lose faith and then not try again
19:04
and I think it's it's not as common and that's why there's a bit more steps you have to go through
19:08
it might seem common in your group of friends or your community you know a lot of people owning
19:12
businesses or being freelance but you know overarching like over time and also within a
19:18
country like it's not that common it's not as common sorry it's way more common to for people
19:23
to have salary jobs and therefore the road is much more straight line I also think the hardest part
19:31
is the emotional roller coaster of will I won't I because I was an emotional wreck throughout this
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time I found it so disheartening to be told no no no no but if I had known again sorry I feel like
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I'm hammering the same point home but if I'd known in advance what I needed to do it would have been
19:48
a way more streamlined straightforward process for me because I was determined to do it within
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a shorter period of time it was which it ended up taking ages anyway yeah but I do think that the
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am I going to be able to am I not you can feel really hard done by as a business owner or a solo
20:06
a freelancer whatever you want to call it it sucks when you've done something that's quite risky
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and you're trying really hard to do something different and you're there's not a lot of reward
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but doing doing your own thing is it's challenging at the best of times and i think that then when it
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comes to oh you've you've saved or invested and got all this money ready to put into a house
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and you do have a successful business and you you do have visibility of clients that you're
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working with or whatever and then a bank says no because you don't have the things that you need
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it sucks and you just look around at all your friends who are in jobs that are getting paid
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their jobs are just as risky as yours are well they could get made redundant yeah that their
20:48
business they work in could be in so much debt and then they blow up and can't they have to fire
20:51
everyone they could be a terrible employee be absolutely useless yeah and i just think there's
20:55
there's a lot more nuance that comes with this but the best thing you can do is to arm yourself
20:59
with the preparation yes so we're going to walk through five key things that you need to know
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think about and be putting in place if you are a business owner self-employed freelance contractor
21:10
God we need to like
21:11
Should we just shorten it
21:12
We can't keep saying this
21:13
Throughout the whole episode
21:14
Should we just say business owner
21:15
If you're a business owner
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Or you work for yourself
21:17
You work for yourself
21:18
If you work for yourself
21:19
Yeah
21:20
We'll just keep that consistent
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Sorry if everyone's like
21:22
Shut up
21:22
Just caveating this whole episode
21:24
Is to do with self-employed
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Yeah
21:26
Contractors, freelancers
21:27
Okay
21:27
Anyone else in a salary job
21:29
Can jog on
21:29
Jogs
21:30
Nah you can all listen
21:31
But we're not gonna
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We're not gonna keep listing out
21:33
Every option of working for yourself
21:35
And I think before we get into it
21:36
Should we
21:38
I think we should state the obvious
21:39
than actually buying a house in general,
21:41
whether you are self-employed or you work in a business.
21:44
It's really stressful.
21:45
First house, second house, investment property.
21:47
It's what it's going to be.
21:48
It's an emotional rollercoaster, right?
21:49
Even getting from going, getting approval
21:52
to actually going and visiting the houses
21:54
to signing the docs.
21:55
There are so many, I guess, points in that process
21:58
where it could fall over or it could be a no.
22:02
And yeah, there's just a lot of ups and downs.
22:06
Strap in, you're in for a ride.
22:07
Yeah.
22:08
Try to remove the emotion though.
22:09
I think it is a transaction at the end of the day.
22:12
Even though you're like, I really want it.
22:15
It's not even just I really want it.
22:16
I think it's this, for me, it was the,
22:18
I was just, I was quite scared of the unknown.
22:20
Like what if I bought a house
22:21
that was rotting from the inside?
22:22
What if I, you know, it's the biggest purchase
22:24
most of us will ever make.
22:26
And I think-
22:27
Very few decisions are one way doors, Sophie.
22:29
Yeah, but there are horror stories
22:31
of people that muck it up.
22:32
Yeah.
22:33
And I mean, we had Gabby Height,
22:35
this like amazing woman who came on
22:37
and shared her story.
22:37
actually we'll link the podcast again in the show notes because it was quite mind-blowing what
22:41
happened to her she was just so what you would assume was prepared and just it was worst case
22:45
scenario worst case scenario and those things happen even if you have the best of intentions
22:49
and you're trying to be organized so but that's the thing with taking a risk right the alternative
22:53
is you don't buy a house you save away part of your salary in a term deposit or in the stock
23:01
market and you don't take on leverage you don't take the risk and you don't grow your wealth as
23:05
much and I think that is part and parcel of that fear of will I buy a dud you know all of that it's
23:10
like you can only do so much research and box ticking before making that but there's still a
23:14
risk involved it's the same with investing there's only so much you can research and do and learn
23:19
about sometimes you just have to take the leap so that but I guess that's a really good point
23:23
that because then you're like oh it's not emotional but actually it's fair to feel a bit scared because
23:28
it is risky yeah and it probably should feel a bit scary otherwise if it wasn't everyone would do it
23:33
every day.
23:34
I think also before we get into it, it's just important to highlight like the rules
23:37
aren't actually harsher if you're self-employed.
23:41
It's just that you need different proof to get
23:43
the tick of approval.
23:44
And I think that, yeah, that part can be overwhelming because most people
23:49
in salary jobs, it's pretty clear, you know, bang, bang, bang, these are the things you need.
23:52
Even mortgage brokers, like for my experience, if you're not employed, they're not super excited
23:57
sometimes about or aware of the process.
24:00
So yeah, I think that the whole point of this episode
24:02
really is just to try and change the mindset of anyone who is self-employed so that you do feel
24:06
prepared to be able to buy a house if that's something you want to do so number one victoria
24:11
harris so why do you think it feels harder buying as a self-employed person when you are employed
24:19
you get your pay packet you you have paye you have your automatic taxes you know all that stuff is
24:25
done for you it's almost like the beauty of being employed is just your pay packet is kind of taken
24:31
care of but like consistent it's monthly yeah and i think like you see it as a business owner right
24:37
it's it kind of lives and dies by you if you're the solopreneur is it the right word yeah
24:43
solopreneur entrepreneur if shit does hit the fan you're going to cut your salary before you cut
24:48
staffs or you know you're a sacrificial lamb kind of thing yeah whereas some people would argue oh
24:54
but you're so disposable if you work for a for a corporate for example and it's like yes that's
24:59
true but I guess there's two things that have to go wrong there right your performance and you
25:03
you leave the business and the business has to fall over whereas it's all kind of lumped into
25:07
one when you're self-employed yeah you are the business but I used to get effed off because I
25:13
was the flip side to that is if our business did go to zero yes we probably cut our stuff our
25:19
salaries first but then we'd cut the rest of the team and we'd still be in there grinding it out
25:24
took the last hour yeah do you know what I mean we might have been paid in the coffin
25:30
but then again I guess we wouldn't be paying ourselves at the point of it yeah but the point
25:34
is that who is going to be working hard to make sure that they can pay their stuff whether it's
25:39
their house their mortgage their stuff it is going to be the person that owns the business I don't
25:43
know it's such a controversial one but I guess the main point here is that the reason it can feel
25:48
harder is because your revenue is lumpier because you have different amounts coming in you might have
25:53
different contracts that are paid at different times.
25:56
It's just you don't have the same
25:57
consistency.
25:58
It's not as easy as on the 15th of every month, you have $3,000 coming into your
26:03
account.
26:04
And you've got $2,000 going out, so you have $1,000 left.
26:07
Yeah, it's not as easy for the
26:08
bank to calculate it like that.
26:10
So there's a few extra steps, which means a few extra bits of
26:13
paperwork.
26:14
But there is a huge misconception that it is impossible.
26:18
But it's not impossible.
26:19
It's
26:19
just a bit harder.
26:19
You just need to, I guess, create a clearer story for the banks around your
26:23
income right it's not as black and white as three thousand pounds every month it is a bit more yeah
26:30
it's just there's just a little bit of a narrative gotta be a bit creative and i we're going to get
26:34
into this in more detail but essentially you not only for your business but also for a mortgage
26:40
if you don't have really good paperwork on what money is coming in what contracts you have in
26:47
place your GST or VAT or blah blah like it is so you are operating as an independent business and
26:53
if you don't look like you've got your shit together of course they're not going to give
26:57
you money you know it's not just as simple as oh I'm making some money look at what's coming in
27:01
they are looking under the hood of everything that you're doing and if it's looking at all
27:05
like you don't know what you're doing or you haven't got I don't know an accountant helping
27:09
with your taxes or whatever those are the sorts of things that you just have to have in place and
27:13
if you do have that, it's actually really easy to prove.
27:16
Over the last six months, my income has
27:18
been X.
27:19
My expenses have been Y.
27:21
It's not that hard to share in that setting.
27:24
Or over the last
27:25
two years or three years, this is how my revenue's grown.
27:28
All those things are really important
27:29
because you don't have a paycheck coming in on the same day every month.
27:34
So you just have to
27:35
work a bit harder to prove your income.
27:37
Yeah.
27:38
And secondly, what do banks actually look at?
27:42
what do they need?
27:42
And we just said, we just caveated this with like every situation is
27:45
different, but this is kind of, this is, I guess, the cookie cutter and the standard in terms of
27:52
what banks look at.
27:53
And firstly, it's about six to 24 months of income stability.
27:57
So the more that
27:57
you can, I guess, the lumpier your revenue, the more you're going to have to provide in terms of
28:02
that length.
28:02
Let's use an example.
28:03
Let's say you've been, you've been in your business for
28:06
six months and you've had a hundred thousand come in amazing huge amount way bigger than most people
28:14
in a salaried role but that's one contract and it's a one-off that isn't giving a huge amount of
28:20
longevity or validity and the fact that that's going to happen again yeah I think it's it's
28:25
there's lots of things at play here but it makes sense if you think about it if you've had one
28:29
contract amazing that's so so great but if you actually could zoom out and have say six maybe
28:36
retainer clients that have committed for 12 months.
28:39
And you can see that consistency.
28:40
And they've been
28:41
with you for a period of time and they're committed for a period of time.
28:44
Those types of things go a
28:45
long way.
28:46
So even if you're maybe only bringing in $20,000 and the other person has $100,000,
28:51
they have consistency and regular income.
28:53
They're not relying on one brand.
28:55
Yeah.
28:56
And also I think
28:57
the business health as well, even that sporadic $100,000, is that going from $100,000 to $50,000
29:03
to 20 or is it going from 100 to 150 to 200 to 250 do you mean is there growth within that contract
29:10
is there was there growth within the revenue even if the revenue is lumpy is there growth within it
29:13
or is it going backwards yeah and this was something that I struggled with a bit because
29:17
it was just after we'd done a capital raise and so we'd raised money on future projections yes
29:24
so we didn't actually have actual data of our new product to prove sales so it was it was way harder
29:31
because what they're looking at is like, you know, your profit and loss,
29:36
your estimates, your bank balance.
29:37
They need to understand everything.
29:39
It's obviously if you're, you know.
29:41
And if you've just done a capital raise and loaded up your bank balance.
29:44
It doesn't mean that you're going to be good at handling it.
29:47
No.
29:48
They can see through that.
29:49
Exactly.
29:50
But that's why it was quite frustrating for me because I was like,
29:52
this is such an annoying time to be trying to get a mortgage
29:55
because we have got proven track record in revenue,
29:58
but we're also doing a business pivot kind of.
30:01
And we were just raised for something else.
30:02
And I had to be really transparent about that.
30:04
Which is why, yeah, if one bank or one person says no,
30:09
definitely go talk to someone else.
30:10
Because there will be someone that understands that, right?
30:12
It's just because every business is so unique.
30:15
And every business owner is so unique.
30:18
But they also look at your expenses and your lifestyle.
30:21
If you're constantly maxing out your credit card and living beyond your means,
30:27
even someone in a salaried job, that's a big red flag.
30:31
can we talk about that because there's so much misconception around lifestyle and it not being
30:36
something that they look at you know we've spoken a lot on this podcast before about how people think
30:42
that you spending money on clothes is an issue like everyone's like oh no no i'm not meaning
30:47
that i'm meaning if you're constantly missing your credit card payments because you can't pay
30:51
back and that's impacting your credit score that's living beyond your means if you've got constant
30:56
things on on client or after pay because you can't afford them right now but you want them
31:02
that's constantly living outside your means and that is giant red flag also if we're going to
31:07
lump in a mortgage payment now that you have to service every month how are you gonna do that
31:14
so i think the more that you can just show that you're spending less than what you're earning
31:19
yeah and there's like a margin there right like it's three thousand you're only spending a thousand
31:24
you've got $2,000 there to play with.
31:27
And that's what happens when you apply for your mortgage.
31:29
And I had to do that as a self-employed person too.
31:31
It was filling in how much you're spending
31:33
on rent, how much you're spending on bills, what other contracts you have.
31:36
Do you have a phone
31:37
contract?
31:38
Have you got a car on license?
31:39
What is your expenses month to month?
31:42
And what is coming
31:42
in on average month to month?
31:44
And are they adding up that there is space there for a mortgage?
31:46
That's what they're looking at.
31:47
If you've got personal loans, if you've got car financing,
31:49
if you've got all this other kind of stuff that is a bit of a red flag then that means that you're
31:55
kind of living beyond your means and so yeah a lot of debt if you've got one credit card that
32:00
you religiously pay off every month that's fine that's probably good for your credit score because
32:04
it's like look I can actually I can handle debt so give me more give me a debt deed pledge but
32:10
yeah if you're constantly living beyond your means you've got lots of debt you can't meet
32:14
those repayments you're a high risk person is kind of what they're getting at in terms of
32:18
well why should we lend you money if your previous amounts that you've been loaned you can't control
32:24
or you can't pay back that would be a huge red flag for even if as a friend if i if you're like
32:31
hey but can i borrow 100 bucks i'm like well you own me you owe mary sue and john three 300 each
32:37
and you they haven't got a great track record actually yeah i'd be like sorry babe i kind of
32:45
yeah you're high risk you're like i'm not getting that money back yeah you're only going to give
32:48
someone money if you genuinely believe you're getting it back it's collateral yeah collateral
32:54
chuck me your half your wardrobe i don't trust you yeah i think that the the debt levels is a
32:59
really important one it's also you know when it comes to checking your debt and making sure you're
33:05
not leveraged or or owing lots of money that you're not able to pay back month to month that's
33:10
one thing is really important you don't have a shit credit score i was really lucky that mine
33:16
was fine and i was able to because i i've had so many parking fines back in the day when i had to
33:22
return dvds and i lost them and then they put phone electricity bills and you move you move
33:27
flat yeah yeah and that's one that stung me an old flat there was an electricity bill in my name
33:33
and it hadn't been paid and it was it was a team effort it wasn't like i was shit at paying my
33:37
bills something just got missed when we moved out and luckily I was able to pay it off and clear it
33:42
but I think all of those types of things you just have to make sure you're up to date with because
33:46
as soon as you go in for a screening of a mortgage they're looking at your financial health and not
33:52
paying stuff it comes up everywhere like there's no way to avoid that and for me that's what
33:56
happened and you can check your credit score if you just google you know free credit checks there'll
34:01
be one in your country you can go in and have a look and you can see oh gosh okay yeah there's an
34:05
outstanding bill and fix it before you go into the bank so like doing all this stuff ahead of
34:09
time is really really helpful also your deposit i think is you know knowing how much you actually
34:16
have saved or you can actually put towards the deposit is is is really good usually you'll need
34:21
20 of the value of the house as a self-employed person this varies from country to country but
34:27
because you are kind of a bit more higher risk there tends to be you know the the thinking is
34:34
that you need a higher deposit to compensate the banks for that risk that they're taking because
34:39
you can get lower yeah you can get zero percent deposits you could get 10 five percent there's
34:45
lots of different places and parts of the world where you can get different deposits but exactly
34:50
what Vic just said you are unfortunately looked at as slightly higher risk which means you do need
34:55
to make sure you have enough deposit but this is this is something that happened to me so because
34:59
I wasn't living in New Zealand because I was buying I couldn't I couldn't buy a home like a
35:06
first home and if you're buying a first home there's all sorts of things like first home grants
35:11
and also if you then live in it you can have less a deposit but because I was living overseas I
35:15
needed to go for an investment property which meant I need 30 deposit which is quite a lot
35:20
so if you're going in with like 20 that's probably a good ballpark and then yeah either you might come
35:25
out and you need an extra 10 or it's like, well, who are you actually only need 10% and you've got,
35:29
you know, an extra 10 up your sleeve or.
35:31
But remember you can buy houses with friends,
35:33
with family members.
35:34
Like there's lots of different ways to find ways to get a deposit.
35:38
You know, I went in with a friend.
35:39
There's no way I would have, in all honesty, my mortgage approval,
35:43
I think probably I wouldn't have been approved if I'd done it by myself.
35:46
I think that the
35:47
combination of having a business overseas, overseas, everything was like not ideal,
35:51
but because I did it with a friend who was in a stable salary job it sort of offset me as a risk
35:57
so it's something to think about if you are also in a similar position where you're probably high
36:02
risk maybe try and team up with someone that's not it could be a really good way to get your
36:07
foot in the door please help me help me buy a house we've had a lot of people message us after
36:12
I did that saying I'm in a position where I have money I have a deposit I want to buy with someone
36:16
if you if you know anyone that wants to come with me let me know again it's just because it's not
36:21
the common trodden path it's like a bit weird people you know a lot of people haven't done it
36:27
it's but where there's a will there's a way I strongly believe if you want to buy a house you
36:31
can find a way to buy a house and lastly the thing that the banks are actually look at is yeah again
36:37
if you've got any big swings in profit so income your expenses and also your profit if there is
36:43
all of a sudden a big swing it's like cool but is that just maybe one off or is that going to be
36:48
consistently happening and if it is consistently happening awesome let's look at number three
36:53
vic why don't you run through all of the paperwork that is actually needed to go through and get a
36:59
mortgage okay quick fire is we've mentioned this they want at least six to 24 months of of income
37:06
so you'll need to actually prove this so this is like income statements cash flow statements that
37:11
kind of thing that yeah the more that you have the better just bombard them with it you know
37:17
Inland Revenue Income Summary
37:18
Oh sorry
37:19
This is just for New Zealand by the way
37:21
This will differ in different regions
37:24
But essentially a tax statement from the IRD
37:27
Or your tax agent in whatever country you're working in
37:30
This is just showing that you're paying tax
37:32
Yes
37:33
And you're not just making up some income statements
37:37
And presenting them to the bank
37:38
Have an accountant if you know what's going on
37:40
There's actually a stamp on them saying that these are actually valid and viable
37:43
Number three
37:44
Any invoices or contracts showing future work.
37:47
So we were talking about the lumpy revenue coming in.
37:49
If you have signed a two-year contract, but they've only paid a portion of that up front,
37:55
you've still got that money coming in in the future.
37:57
Really, really good green flag.
37:58
Take those along because this is guaranteed income, which they really like, obviously.
38:04
And also any letters that you have from key clients, any contracts, anything that proves
38:10
or de-risks the income coming into the business in the future.
38:14
would be really, really helpful.
38:15
They're looking for stability, reliability, consistency,
38:18
all that stuff.
38:19
So the more that you can provide, the better.
38:21
We've spoken about this a bit when it comes to investing
38:23
in different businesses.
38:24
And this is if you're weighing up the riskiness of investing
38:27
in a business.
38:28
It's exactly the same.
38:30
If there are businesses that can prove that their product
38:33
or their service is needed in the future and they have guaranteed income,
38:37
like we've spoken in the Curve Weekly all of last year
38:41
about the AI chips that Nvidia,
38:43
you know, they had to deal with the government
38:45
and then this person decided to buy that, whatever.
38:48
It's guaranteed revenue coming in.
38:51
And so in the exact same way
38:52
that you would think about that
38:53
if you were investing in a business,
38:54
the bank is kind of choosing you as an investment
38:56
and trying to decide how risky you are.
38:58
And the more that you can prove
38:59
that you're not risky, the better.
39:01
It's also not, you're not doing all of this
39:03
so that you can borrow a certain amount.
39:05
It's also that you don't have to pay a high interest rate
39:08
because if you are risky,
39:10
then they can bump up the interest rate and be like okay cool yeah we'll lend you this but
39:13
you're a bit of a risky case so we're going to increase the interest rate that you have to pay
39:17
on that debt it's a really good point the more you can show them then yeah the more you can do
39:22
risk yourself or your business the better should we go through some tips for personal spending
39:29
because i feel like banks do like clarity visibility as much transparency across what
39:36
you're spending as possible yeah I think it's really important you know if you aren't thinking
39:40
you're buying a property the first thing I would do is start separating if you if you don't already
39:46
business and personal spending really really just muddies everything so the earlier you can do that
39:52
if you're doing that already awesome but that is super super helpful and I think when you start a
39:59
business from the outset perhaps it feels exciting to be able to put things on your business card or
40:05
pay for rent or pay for this and you know and I get that but there's different ways of there's
40:09
a difference between still being able to do that but doing it in a really clean way
40:13
yeah that sets you up for future success or future loans and there's there is a big difference
40:18
between it's not about trying to restrict yourself or you you might be listening and thinking well
40:23
the whole reason I started a business is so that I could put things against the business and
40:27
which I totally get but this is just more of an admin best practice way for any business really
40:35
like the more salary and then pay for your personal stuff personally or something you know
40:40
and obviously an accountant or someone is going to be way more every business is so nuanced so
40:46
this don't take this as gospel but definitely for us when we set up the business the curve
40:51
we always set it up in that way where we have super clear guidelines around like what is personal
40:56
and what is not.
40:57
Really the only thing
40:58
that we put through the business
40:59
that is a personal expense
41:00
is our phone bill.
41:01
That's kind of the only thing
41:02
that I can think of
41:03
that's not.
41:04
That's like really clearly
41:05
and our phones
41:05
we use so much for work.
41:07
Yeah, I would say
41:07
that's a work expense.
41:08
It's not even a personal expense
41:10
but my point is
41:11
that's normally the kind of thing
41:12
as an individual
41:12
you would pay yourself
41:13
as your phone bill.
41:14
Or maybe some businesses
41:15
Nah, I've never paid my phone bill.
41:16
Really?
41:17
Nah.
41:17
Oh, I have.
41:18
Wow, lucky.
41:19
That was such an extreme nose.
41:20
Sorry.
41:21
I've never heard you snort.
41:23
It was kind of a throat thing.
41:24
yeah but I guess
41:27
this is
41:27
it's funny
41:28
because when we first
41:29
started the herb
41:29
I remember being
41:30
quite gutted about it
41:31
like I
41:32
you know
41:33
when it was
41:33
oh not being able
41:34
to put stuff
41:34
through the business
41:35
yeah
41:35
it was just
41:35
Vic was really strict
41:36
with it
41:37
and I'm so glad
41:37
that she was
41:38
in hindsight
41:38
I think it's also
41:39
when you have
41:39
external investors
41:40
right
41:41
oh yeah
41:41
it changed again
41:42
in that situation
41:43
but even from the beginning
41:44
when we didn't have
41:44
investors
41:45
it was not
41:46
we were not
41:47
putting anything
41:48
that was not
41:49
I remember my mum
41:49
was like
41:50
did you put your car
41:50
purchase through the business
41:51
I was like
41:52
imagine
41:54
imagine so for me like where's our profit stunning audi we just we needed to pay no tax so i just
42:01
thought i'd spend all up that's so funny but i think it's different also being a sole trader
42:05
and doing that and and being a limited company and having investors is very different but
42:11
um yes any investors listening we do not do that at all i did not buy her car on the business card
42:16
absolutely did not but they are going to be looking at business expenses they're going to
42:20
look at your P&L, your cash flow, like all of that stuff you will have to provide.
42:24
So you want to
42:25
make sure that you're really happy to show them.
42:27
And knowing this in advance, right, they're not
42:29
going to ask for five years of statements.
42:32
So if you're thinking, right, in two years, I want to do
42:34
this, great.
42:35
Who cares if you had them all muddled to this point, but start to separate it.
42:38
Well, and as long as you have, right, if you've only been going for 12 months and you're 12 months,
42:43
that kind of thing.
42:44
Number four is what deposit is needed.
42:47
So we touched on this, but usually it's
42:49
20%.
42:50
And it's about that for a salaried person, but there is flexibility to go lower when you're
42:55
salaried because you've got, you are quote unquote, less risky.
42:59
So you can go kind of 10%,
43:00
5%, 0% in some countries.
43:03
But again, if it's your first home versus an investment property,
43:07
that also makes a huge difference.
43:09
So if it's your first home and you're living in it,
43:11
then probably more leaning to the 20% side.
43:14
If it's an investment property, then it's like you
43:16
had about 30 could be 40 sometimes and I think we were talking about this off mic the idea of when
43:24
because I said to Vic because she's wanting to buy a house in the UK and I said oh you know what
43:27
what sort of deposits are there in the UK and she was like oh you can do zero percent and I was like
43:31
wow that's amazing she was like not really I think that there's a real misconception that putting
43:37
down a high deposit is scary oh gosh you've put 30 percent down can you just explain what you were
43:43
saying off mic to me for anyone else that might be getting that confused and think all of a sudden
43:47
that's actually a really brilliant idea to have less of a deposit because really the ultimate
43:52
what you were trying to say is the more you can put down as your deposit actually the better for
43:56
so many reasons a bit of a buffer right like if you bought a house for 500k and you put down zero
44:02
deposit zero percent deposit and then in 12 months time that property falls in value to 450k you
44:08
would owe the bank 50,000 pounds or $50,000, whatever it is, should you sell that house.
44:15
Whereas if you had put down 50K, bought the $500,000 house and only borrowed 450,
44:24
if the house price falls, you're not out of pocket.
44:26
Yes, it still sucks.
44:29
But, you know,
44:30
so it's like, it's just a bit more of a risk.
44:31
If you are going to take a 0% mortgage, I would
44:34
highly recommend that you add value straight away so that 500 000 so if it falls house is actually
44:42
immediately worth 700 so therefore you mean renovate essentially renovate immediately
44:47
just just get jazzy with it so that if you go to sell it or if the market falls it's it's holding
44:52
its value at least to how much you borrow so you're not then losing more money yes and usually
44:59
if you are taking a 0% deposit,
45:01
you again have increased your risk as a borrower for the bank.
45:06
So they're going to charge you a higher interest rate.
45:08
And that's so,
45:09
it's so easy to forget how much that adds up over time.
45:12
Yeah.
45:12
If you put down 40% deposit,
45:14
they'll be like amazing.
45:16
We'll give you a 2% interest rate.
45:18
Maybe they won't get too jazzy.
45:20
They'll just be like,
45:21
thank you.
45:22
But again,
45:23
you could shop around if you got a huge,
45:25
huge deposit.
45:26
It's also remembering you're paying interest on the total amount you've borrowed.
45:30
So if you've put none down and you owe $500,000, you're paying interest on $500,000.
45:36
If you've put a large deposit down, there's a smaller amount of a total, I guess, principal that you're paying interest on.
45:42
So, yeah, there's just different ways to think about it.
45:45
And I wouldn't get stressed out if because you're a business owner, you have to put more deposit down.
45:49
It's actually not a bad thing.
45:51
And I think also with being self-employed or being salaried,
45:56
the deposit's not really the issue here.
45:58
It's with business owners.
46:00
The issue that the banks have is with your proof of income.
46:03
You know, if you've got 10% deposit, cool, they can work with that.
46:06
If you've got 40%, cool, they can probably work with that too.
46:09
But it's more on the proof of income because you're quite a volatile individual
46:14
in terms of, yeah, so that's mainly the sticking point.
46:17
It's not so much, oh, you need X amount deposit.
46:20
if you can prove your income sweet as then they'll probably be more flexible on the deposit do you
46:25
know what i mean so yeah sweet as sweet as bro number five wait can i tell you something funny
46:32
this is just for anyone that's you know bored quick interlude sweet as so i went on a date
46:36
with somebody who told their mom that they were going on a date with a new zealander
46:41
and she said oh good luck with her new zealanders have the most annoying accent
46:46
where you're like well actually we actually have the sexiest that's exactly what i said i said
46:50
we've been voted the sexiest accent in the world and he was like by who everyone in new zealand
46:56
i mean he was like what about spanish italian like he's not listing all these hot it's the
47:00
kiwi accent number five the last one what will help you get approved keeping your accounts clean
47:07
and organized i honestly i feel like we're hitting our head against a brick wall but
47:12
honestly it'll make your life so much easier and then you get to the fun stuff of looking at houses
47:17
you know that's the fun part if you are thinking i'm really good at my job i'm really good at what
47:23
i do and i love my business but if i'm being totally honest the accounts and the finances
47:27
is not my strong point there is yeah so many people and affordable options depending on how
47:32
big your business is or what you're doing and software that can help you just talk i think talk
47:37
to other business owners who did they use who if they bought houses i think just everyone's
47:42
going to help do your research and talk to people and you'll it'll be way way easier someone will
47:46
be like oh i use this software and it was henry or zero like there's so many uh show consistent
47:52
or growing income pay yourself a regular salary this is huge and something we haven't really
47:57
spoken about yet it's so important even if it's a small amount and you've got the odd bonus or
48:03
or something like that.
48:05
Better to go for the small consistent amount
48:07
than the high switch on, switch off inconsistent amount,
48:11
I think is really important as well.
48:13
Because again, they just want to know your proof of income.
48:17
Can you pay your mortgage?
48:19
Can you service your mortgage
48:20
if we're going to lend you this money?
48:21
And what is the regular amount
48:22
that your business can afford to pay you?
48:25
And you know what?
48:26
Maybe it's not monthly.
48:27
Maybe it's a three monthly amount
48:28
and it's larger because your money comes in in huge lumps.
48:32
and actually it's really hard to do a every month payment, fine.
48:35
Maybe it's every three months, but actually it's a bigger amount.
48:37
And that then shows that you'll be able to consistently over periods of time
48:40
be able to pay your mortgage off.
48:42
And the longer that you've paid that amount, the better.
48:44
So just like investing in a stock, you know,
48:47
the longer that you can see the consistent profit growth of a company,
48:52
the more comfortable you can get with it going forward.
48:54
It's the same when it comes to you as a human.
48:56
100%.
48:57
Reduce any short-term debt.
48:58
So any credit card debt, any after pay, Klana, buy now, pay later.
49:03
Get rid of it.
49:05
Get it out, get it out, get it out.
49:07
Yeah, anything, personal loans, any really expensive debt.
49:11
And by that, I mean things you're paying like 12%, 20% interest rate on.
49:16
See you later.
49:16
It's just so hard to get out of, yeah.
49:18
It's just also, sorry, but if you are buying sunglasses that you cannot afford with your income,
49:26
what are you screaming to the bank?
49:27
I buy stuff when I can't afford it.
49:29
Just think about if you were, it's the same thing.
49:31
If you were lending someone money, if I asked Vic to give me 500 pounds
49:36
and she knew that there was actually so many other times that I used 500 pounds
49:40
when I didn't have it and I still owed other people 500 pounds,
49:44
she would not be feeling that stoked about giving me 500 pounds.
49:47
I lent a friend some money and I, idiot, I know she hasn't paid back.
49:52
How much?
49:53
About 100 pounds.
49:55
and you're gonna say i thought you're gonna say something like 50 000 no no no no no no it was
49:59
just like i paid for something and then i was like idiot you know she has a track record of
50:04
not paying people back and she knows exactly you know that she owes other people money so why did
50:09
you fall for and just lapse of judgment yeah it's just a moment i was like oh but anyway you're not
50:14
a bank you haven't got processes in place and if you did that would have been a no yes it would
50:18
we're going to know.
50:19
Having explanations ready for any big dips in income.
50:23
You know, look, if you're
50:24
like, look, we actually lost this contract, but we won this massive one.
50:28
Or I lost this client,
50:30
but you can see I've recouped it with an even bigger client or something like that.
50:35
Or two
50:36
clients combined, I don't know, whatever it is.
50:38
Just having those explanations in email from them
50:41
in writing, in a contract, whatever it is, just proof of that and evidence will really, really
50:47
help because them just taking your work for it is probably and i guess it comes back to contracts
50:51
you know if something's been cancelled then prove the new one get the new one up yeah and saving
50:56
steadily even if it's a small amount is really good you obviously need your deposit but this
51:00
comes back to living beyond your means if you're constantly in debt you don't have actually any
51:04
wiggle room that's a bit of a red flag so yeah if you've got any kind of savings any possible
51:11
savings that would be awesome but yeah you need to be an organizational queen so often you never
51:19
say stuff like that slay queen i know i wonder if i start saying stuff like slay or queen if i'll
51:25
get used to it no like our our gen z social media girl she can do it she's not gen z well she pretty
51:32
much she gets away with it why can't i oh she's little she looks gen z so cute although you're
51:37
whereas you just it's like big and tall and you can't say slay just a bit weird but just to wrap
51:43
things up for anyone who is feeling i don't know a little bit disillusioned by the whole process
51:49
it might just be this is the episode you needed to know what to do and it's just not a now thing
51:54
you're gonna have to sort yourself out for two years time and that's fine and i think that's
51:58
better to start now than in two years time being like i want to buy a house totally yeah you kind
52:02
have on the back foot but also if you do know someone that has maybe given up hope or been
52:07
told the wrong information please send this episode yeah send in this episode so yeah
52:11
essentially you just need to understand your income and what the bank cares about and the
52:15
more people the more business owners freelancers contractors we have buying houses the easier the
52:19
process will be and the more banks will get used to it and therefore hopefully more people get
52:24
approved and just remembering all property journeys whether you're buying a first home
52:30
second home investment property they're always different which is why having the right support
52:34
whether it's a mortgage broker or your bank like bnz home loan partners it makes a real difference
52:40
and i think that you just have to know that everyone is trying to help if someone is not
52:46
helping find more advice there's so many people that know more and the more conversations you
52:53
have you'll find the right person that's going to help you make it happen and i think it's really
52:56
important to have those conversations early right not being like oh i don't want to buy a house
53:00
yet that's that's a goal for two years time i think just start having those conversations now
53:05
get prepared because you never know you might be able to buy earlier than you thought and i was
53:08
gonna say if anyone needs a pep talk like they're i don't know feeling exhausted or scared or they
53:12
don't really know what they're doing um definitely reach out i'm more than happy to be everyone's
53:16
emotional support system on this i think that i mean this this time last year or a few months
53:21
maybe it was about 10 months ago i was crying on the podcast about this it was really hard
53:26
So I'm talking about this really diplomatically and in a really, you know, non-emotional sense.
53:31
But yeah, it's a process and you need to find people you can talk to and feel supportive.
53:35
So if you don't have that, reach out, send a voice note.
53:37
I'm really happy to be your emotional support through Buying a House because I feel proud of myself having done it.
53:44
And I really hope that if this is something you want to, that you're able to make it happen.
53:49
In comes thousands and thousands of messages.
53:51
Don't you worry.
53:52
I've got nothing better to do than send millions of voice notes.
53:56
They will be in voice notes though.
53:57
They won't be long written out messages.
53:59
It's funny voice noting people that hate voice notes.
54:01
Yeah, yeah, yeah.
54:02
I also just find myself as such a cliche where you're like,
54:05
hi, hi, oh, oh, there's a cute cat.
54:08
Oh my God.
54:08
Yeah, yeah, yeah.
54:09
Oh, I'm hungry.
54:09
And then, you know, those memes,
54:10
and it's just that friend that keeps being off track.
54:12
So then I'll stop recording.
54:14
I'm like, sorry, okay, focus, focus, focus.
54:16
Do it again.
54:16
Listen to it two times.
54:19
But yes, I hope you enjoyed the episode and we will see you.
54:22
We actually will see you next month for a new property episode.
54:25
so if you would like if there's anything else within the property space that you'd love to
54:29
learn about know about you have any questions our dms are always open comment when you're listening
54:33
to this podcast let us know because it's really great to know what everyone wants to learn about
54:39
but yeah have a good week see you bye did you love this episode yes have you got property
54:47
front and center in your mind yes sounds like you're a five-year-old i know now could be the
54:53
time to take the first step towards what it is that you're wanting to buy.
54:58
Whether that's your
54:58
first home, whether that's a new flat, whether it's, I don't know, buying another investment
55:03
property.
55:04
And thankfully, BNZ has the expertise and tools to help you get started and their home
55:09
loan partners are ready whenever you are.
55:12
You can book an appointment, you can ask millions of
55:14
questions.
55:15
Trust me, that is totally fine.
55:17
And you can start turning the property dream that you have
55:20
into a plan and hopefully soon into a reality.
55:24
I know from experience that this can feel quite overwhelming,
55:26
but when you're working with experts who can actually help you get there,
55:30
it's such a burden off your shoulders to know that you've got the advice
55:34
and the tools that you need to actually make it happen.
55:36
We know how hard it can feel and like overwhelming and just, you know,
55:41
so like a fish out of water when it comes to buying property.
55:45
So we're so thankful to BNZ to be helping us create and empower this podcast so that people can learn.
55:54
And we just want you all to succeed.
55:56
We want you all to succeed.
55:58
We're all in your corner.
55:59
And this is going to be such a game changing property podcast series.
56:03
Yes.
56:03
And for anyone that is going through the process of either buying a house or a flat or whatever it is that you're trying to do,
56:09
please let us know because we would love to be cheering you on from the sidelines.
56:13
but thank you so much again to BNZ for empowering this podcast.
56:16
Okay quickly the curve was created to empower and educate you about investing but we are not
56:21
financial advisors.
56:22
Our platform exists for educational purposes only and it doesn't provide
56:25
personalized investing advice for your individual needs and should not be relied upon to make
56:30
an investment or financial decision.
56:31
And always remember to do your own research before making
56:34
any investment or financial decision.
56:36
We're here for any knowledge and support you need
56:38
but the final call is always yours.
56:40
And thanks for being here.
56:42
You got this.
56:42
Yeah, we know you got this.