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Turning a Property Regret into a Real Estate Win · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
• 0:05
  Speaker 1: Order Kerni Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 1: get started on She's on the Money podcast, I would
• 0:11
  Speaker 1: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 1: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 1: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 1: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 1: the storytelling of you to make a difference for today
• 0:31
  Speaker 1: and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 2: Hello, and welcome to She's on the Money Podcast Millennials
• 1:01
  Speaker 2: who want financial freedom. My friends, welcome back to another
• 1:04
  Speaker 2: one of our money diaries where I get the absolute
• 1:07
  Speaker 2: pleasure of sitting down and talking to one of our
• 1:09
  Speaker 2: incredible She's on the Money community members all about their
• 1:13
  Speaker 2: money story. Let's jump straight into it, because this week
• 1:16
  Speaker 2: I got an email and it sounded exactly like this
• 1:19
  Speaker 2: high She's on the Money team. I've always been driven,
• 1:22
  Speaker 2: and buying my first property at twenty two felt like
• 1:26
  Speaker 2: my biggest achievement. But that excitement quickly turned into regret
• 1:30
  Speaker 2: when I realized my rental property manager and strata, both
• 1:34
  Speaker 2: from the same company, were mismanaging everything. The stress was
• 1:38
  Speaker 2: overwhelming and I nearly sold the property at a loss.
• 1:41
  Speaker 2: It took a lot of persistence, but I fought to
• 1:43
  Speaker 2: get a new strata management company to take over, and
• 1:46
  Speaker 2: it finally paid off. Now I'm gearing up to renovate
• 1:50
  Speaker 2: the property so it can become the rental I've always envisioned.
• 1:54
  Speaker 2: I've also leveraged the equity from this property to put
• 1:57
  Speaker 2: a deposit on a new home on the Central Coast
• 1:59
  Speaker 2: since knee prices are completely out of reach. With the
• 2:03
  Speaker 2: settlement just around the corner, I'm so excited to start
• 2:06
  Speaker 2: this new journey with my fiance Money Diarist. That's so exciting,
• 2:12
  Speaker 2: but also like so stressful. I feel like I've been
• 2:15
  Speaker 2: talking to so many people over the last few weeks
• 2:18
  Speaker 2: about strata and how painful it can be. Are you
• 2:22
  Speaker 2: for or against strata at this point?
• 2:24
  Speaker 4: Oh, I'm full against it. Anybody in real estate, Like, like,
• 2:29
  Speaker 4: when I meet them, the first thing is they put
• 2:30
  Speaker 4: a wall up because of all the issues in the past,
• 2:32
  Speaker 4: So I feel bad, but like, yeah, I would say again.
• 2:37
  Speaker 2: I'm not in real estate weekend hangout. I'm like, I
• 2:40
  Speaker 2: am kind of in property. I suppose I'm in mortgage broking.
• 2:44
  Speaker 4: So like, oh no, that's okay. I love my mortgage broker.
• 2:46
  Speaker 4: He's awesome.
• 2:47
  Speaker 2: A right, yeah, okay, all right, yeah, we love mortgage brokers.
• 2:50
  Speaker 2: All right, on the same page. Let's start the way
• 2:52
  Speaker 2: that I always start money, Diris, before I get into
• 2:55
  Speaker 2: the nitty gritty, can you let me know what grade
• 2:57
  Speaker 2: you would give your money habits if I asked you
• 2:59
  Speaker 2: to give them a grade from eight through to F.
• 3:02
  Speaker 4: At the moment, I think I would give myself a solid.
• 3:04
  Speaker 2: Bee solid be all right, Well, let's learn more about
• 3:07
  Speaker 2: that money dice. Can you tell me a little bit
• 3:09
  Speaker 2: more about your money story.
• 3:11
  Speaker 4: So my money story obviously started around my parents. They
• 3:15
  Speaker 4: were very hard workers. When I was young. I learned
• 3:18
  Speaker 4: from them that if you want to be wealthy or
• 3:21
  Speaker 4: have money, then you have to put hard work in
• 3:23
  Speaker 4: to get there. Like, for example, my dad was a
• 3:27
  Speaker 4: sole trader and he would leave the house before I
• 3:30
  Speaker 4: even woke up, and then in the afternoon when I
• 3:33
  Speaker 4: finished dancing late at night, I would have to walk
• 3:35
  Speaker 4: over to his work and wait till about eleven o'clock
• 3:37
  Speaker 4: before I could go home.
• 3:39
  Speaker 2: So, oh my gosh, eleven. As a kid, you would
• 3:43
  Speaker 2: have been exhausted at school the next day.
• 3:45
  Speaker 4: Oh, I would sleep in the truck and then just yeah,
• 3:48
  Speaker 4: go home. And he would repeat it every day too,
• 3:50
  Speaker 4: So like seeing how much hours he put in, then
• 3:54
  Speaker 4: that sort of trigging in my mind like hard work
• 3:57
  Speaker 4: means wealth. So and then mum was the same. Mum
• 4:00
  Speaker 4: would do all the business admin for him and was
• 4:02
  Speaker 4: the bookkeeper. But then she's working full time and managing
• 4:05
  Speaker 4: a household with my brother and I. So yeah, so
• 4:08
  Speaker 4: seeing all the hours that she put in, Oh.
• 4:10
  Speaker 2: What a queen. We love that.
• 4:12
  Speaker 4: Yeah. So there was always those conversations around the house
• 4:15
  Speaker 4: like oh, you can't, please, don't take any more work
• 4:18
  Speaker 4: from this person. The invoice haven't been paid, or if
• 4:21
  Speaker 4: we want that machinery, we've got to wait for xyz.
• 4:24
  Speaker 4: Like there wasn't any conversations that were ever struggling, but
• 4:27
  Speaker 4: it's just they were around the kitchen, never at the
• 4:30
  Speaker 4: table or anything. But yeah, I just off heard dose.
• 4:33
  Speaker 4: I was never really involved, but yeah, hearing that kind
• 4:36
  Speaker 4: of set in a little bit of like financial literacy there.
• 4:39
  Speaker 4: Even though I didn't really pay attention.
• 4:42
  Speaker 2: Yeah, but I feel like these conscious or unconscious conversations
• 4:46
  Speaker 2: kind of become part of the narrative. You kind of go, okay,
• 4:49
  Speaker 2: well I know what they're talking about, Like, you know,
• 4:51
  Speaker 2: it's like your parents' family friends, Like I'm not friends
• 4:54
  Speaker 2: with them, but I know lots about them because Mum
• 4:56
  Speaker 2: will be like, oh, such and such jit X y
• 4:59
  Speaker 2: Z over the week, and like you remember from all
• 5:01
  Speaker 2: the other conversations you've had, who that person is, who
• 5:04
  Speaker 2: their kids are, what that looks like, like you're starting
• 5:06
  Speaker 2: to put puzzle pieces together. What was it like hearing
• 5:10
  Speaker 2: conversations about business as a kid, So, you know, coming
• 5:13
  Speaker 2: home and maybe mum and dad are like, don't accept
• 5:16
  Speaker 2: any more work from you know, Sharon because she didn't
• 5:18
  Speaker 2: pay her invoice. Like were you stressed by that because
• 5:22
  Speaker 2: you were like, oh my gosh, invoices aren't getting paid?
• 5:24
  Speaker 2: Or were you like get it, mum, you show them
• 5:27
  Speaker 2: the boundary, Like what did that look like?
• 5:29
  Speaker 4: It probably was more like get it, mum, because my
• 5:31
  Speaker 4: dad's more of a joke star. If he's not happy
• 5:33
  Speaker 4: with something and then he makes a joke, it's like,
• 5:35
  Speaker 4: oh he accepts me now, or whatnot. So like every
• 5:38
  Speaker 4: time Mum would say something and put a foot down,
• 5:41
  Speaker 4: he would crack a joke and it would be more
• 5:42
  Speaker 4: of like a laughing situation than or you need to
• 5:46
  Speaker 4: be serious and get this sorted. So yeah, it was
• 5:49
  Speaker 4: more funny, but I think it kind of set in sewn,
• 5:53
  Speaker 4: like finances behind me and saving and like Mum would
• 5:56
  Speaker 4: be like, oh, no, you can't talk to me today
• 5:58
  Speaker 4: because it's business day and I have to get stuff sorted,
• 6:01
  Speaker 4: so like you learn the hard line, and also just
• 6:05
  Speaker 4: made me really driven because I see how hard that
• 6:07
  Speaker 4: day work. And then when I've got my first job,
• 6:09
  Speaker 4: I was like, oh, well, Mum and Dad are working
• 6:11
  Speaker 4: like this, so that's set a standard, so then I
• 6:13
  Speaker 4: should be working like that too, or I should be
• 6:15
  Speaker 4: having those conversations.
• 6:17
  Speaker 2: And how young were you?
• 6:18
  Speaker 4: Oh Dad had his business before I can even remember.
• 6:21
  Speaker 4: I don't remember him in any other job except for business,
• 6:24
  Speaker 4: so I would have been really young. I remember my
• 6:28
  Speaker 4: first couple of times when I was in school, so
• 6:30
  Speaker 4: like maybe kindergarten, primary school, I was hearing these conversations.
• 6:34
  Speaker 2: Yeah, which is kind of cool, and it's also I mean,
• 6:37
  Speaker 2: very relevant for me at the moment because I'm in
• 6:39
  Speaker 2: the middle of I have a six month old. I'm
• 6:41
  Speaker 2: seeing all these conversations about you know, daycare and about
• 6:45
  Speaker 2: you know, working parents versus being able to be a
• 6:48
  Speaker 2: stay at home parent. And obviously we're all out here
• 6:51
  Speaker 2: just doing the best that we can. But I'm quite
• 6:53
  Speaker 2: clearly a working parent. But then you get a little
• 6:55
  Speaker 2: bit of anxiety. You're like, am I doing the right thing?
• 6:57
  Speaker 2: Like when I drop Harvey off at daycare? Like this
• 6:59
  Speaker 2: morning I dropped him off at daycare. He looked like
• 7:02
  Speaker 2: he was having the best time ever. He saw his
• 7:04
  Speaker 2: like room leader, and he's little face lit up and
• 7:06
  Speaker 2: was like, oh, heck, yeah, what a good day.
• 7:09
  Speaker 4: This is probably more fun than home.
• 7:11
  Speaker 2: Oh my gosh. Yeah, Like genuinely, they are going to
• 7:14
  Speaker 2: be teaching him more and giving him more activities than
• 7:17
  Speaker 2: I could ever do. But you kind of go, am
• 7:20
  Speaker 2: I doing the right thing? So, as a child of
• 7:24
  Speaker 2: you know, very hard working parents, do you think that
• 7:27
  Speaker 2: that was a positive or a negative thing? That mom
• 7:30
  Speaker 2: and dad were going to work and drawing boundaries and
• 7:32
  Speaker 2: saying no money, dorist, don't talk to us today. We've
• 7:35
  Speaker 2: you know, got to crack the whip on the business today.
• 7:38
  Speaker 2: I've got to get you know, all this admin out
• 7:40
  Speaker 2: or was that something that you're like, oh, I'm a
• 7:41
  Speaker 2: little bit resentful because I want to ask these questions
• 7:45
  Speaker 2: when it's anonymous.
• 7:46
  Speaker 4: Yeah, I mean it depends on the time. Because when
• 7:49
  Speaker 4: I was young, like, there were times when Mum treated
• 7:53
  Speaker 4: me like a like a business, like, for example, you
• 7:57
  Speaker 4: would love this. Actually, when I started my first job,
• 8:00
  Speaker 4: she put like a hard line in and I joke
• 8:02
  Speaker 4: about it and I say, oh, she cut me off,
• 8:04
  Speaker 4: but really she didn't. It was just if you want anything,
• 8:07
  Speaker 4: you pay for it. If you need anything, you'll support
• 8:09
  Speaker 4: you through it.
• 8:10
  Speaker 2: And so see, I think that's good parenting. But I
• 8:14
  Speaker 2: can also see that when you were probably what like
• 8:16
  Speaker 2: fourteen or fifteen, you were like, that's a joke. I
• 8:19
  Speaker 2: hate it here exactly.
• 8:21
  Speaker 4: And that's why I'm like, I was so resentful for
• 8:22
  Speaker 4: it because I went to a private Catholic school and
• 8:24
  Speaker 4: all my friends.
• 8:25
  Speaker 2: Again you're given everything, yeah, and.
• 8:27
  Speaker 4: I'm there having to like work hard for Like I
• 8:30
  Speaker 4: know at the time, I was so resentful for it,
• 8:33
  Speaker 4: and I'm so grateful now, but yeah, like there were
• 8:36
  Speaker 4: times where she treated me like she was a tax agent,
• 8:39
  Speaker 4: like if I didn't pay my board. She would send
• 8:41
  Speaker 4: me a text message like a tax person, and I'm like, mom,
• 8:44
  Speaker 4: like my mother, like my friends laugh at the messages.
• 8:47
  Speaker 4: So at the time I was very resentful. Now I'm like, no,
• 8:51
  Speaker 4: she was just teaching me a really hard lesson and
• 8:54
  Speaker 4: it really has paid off.
• 8:56
  Speaker 2: And do you have siblings, Is this the same kind
• 8:58
  Speaker 2: of situation for them? Yes?
• 9:00
  Speaker 4: I have an older brother. He's very savvy, like I've
• 9:03
  Speaker 4: never seen him do an assignment in his life, and
• 9:05
  Speaker 4: he got first in all of his subjects at school,
• 9:07
  Speaker 4: so like he's just very special.
• 9:08
  Speaker 2: On Why is it always like that so rude?
• 9:12
  Speaker 4: Yeah, and that had caused a little tension between us,
• 9:14
  Speaker 4: Like he always thought that I got things that he
• 9:17
  Speaker 4: didn't get. So yeah, I believe Mum did the same
• 9:20
  Speaker 4: for him. He actually, I think he got it at
• 9:23
  Speaker 4: some points a little bit harder, like once he got
• 9:25
  Speaker 4: a full time job, the board came before I did.
• 9:28
  Speaker 4: I got to negotiate a little bit.
• 9:30
  Speaker 2: I see. I feel like that second child privilege, like
• 9:33
  Speaker 2: my sister and I reminis on things that like my
• 9:36
  Speaker 2: parents were like absolutely not Victoria Devine and then Alex
• 9:39
  Speaker 2: would be like can I do this? And mom and
• 9:40
  Speaker 2: dad be like sure, I'd be like what.
• 9:42
  Speaker 1: Yeah.
• 9:44
  Speaker 4: I was like, no, I don't have a full paying,
• 9:46
  Speaker 4: full time job yet you can't pay me board, Like, oh,
• 9:48
  Speaker 4: I can't pay for you.
• 9:49
  Speaker 2: Were just negotiating this. Yeah, I like it. I mean
• 9:52
  Speaker 2: that's a good skill to develop very early. So I
• 9:55
  Speaker 2: guess now you're an adult, you're twenty nine years old.
• 9:58
  Speaker 2: What do you do for work? And how much money
• 10:00
  Speaker 2: do you earn?
• 10:01
  Speaker 4: Now? I work at a local council in town planning,
• 10:05
  Speaker 4: and I'm on around ninety five k, well very much
• 10:09
  Speaker 4: a year. And then if you count the rental income
• 10:12
  Speaker 4: from my investment, that's around twenty three k a year.
• 10:16
  Speaker 2: Excuse me, that's very cool, isn't it? Twenty three grand
• 10:20
  Speaker 2: a year? In I would assume passive income. I'm going
• 10:24
  Speaker 2: to ask about debt later. But you then paying your
• 10:26
  Speaker 2: mortgage and stuff or is that like a twenty three clean.
• 10:29
  Speaker 4: Twenty three before management fees come out in the mortgage
• 10:34
  Speaker 4: as well? So yeah, I haven't factored that in.
• 10:37
  Speaker 2: And is it positive or negatively yeared?
• 10:39
  Speaker 4: I believe I'm still negative. I've only been positive once
• 10:42
  Speaker 4: and that was during COVID when the interest rates were
• 10:44
  Speaker 4: so low.
• 10:45
  Speaker 2: Yeah, that was a good time to have a mortgage, honestly,
• 10:49
  Speaker 2: like I remember we got ours during that period of time,
• 10:52
  Speaker 2: and I don't know, but I would like to think
• 10:54
  Speaker 2: that I'm relatively financially literate, so I should have seen
• 10:56
  Speaker 2: this coming. But I got my first mortgage and I
• 10:59
  Speaker 2: was like, this is easier than I thought it would be.
• 11:01
  Speaker 2: And then obviously the economy recovered and my mortgage did not,
• 11:05
  Speaker 2: and I was like, wow, what a surprise. Why didn't
• 11:07
  Speaker 2: I see that coming?
• 11:08
  Speaker 4: Yeah, And I was like mine, I got it another
• 11:11
  Speaker 4: high and then it went to a low. And then
• 11:12
  Speaker 4: when it go into a high, and I was like,
• 11:14
  Speaker 4: oh my god, how did I do this? Before?
• 11:17
  Speaker 2: I know? All right, So I want to know more.
• 11:20
  Speaker 2: You obviously already have a property. You mentioned in your
• 11:23
  Speaker 2: diary in that you have a fiance. Tell me a
• 11:26
  Speaker 2: little bit about your big money goals. What are you
• 11:28
  Speaker 2: currently working towards.
• 11:30
  Speaker 4: I actually had to write this down because the last year,
• 11:32
  Speaker 4: with all the stress from the rental property, like, our
• 11:35
  Speaker 4: money goals have changed so much, like because I got
• 11:38
  Speaker 4: to a point where I was like, my goal was
• 11:39
  Speaker 4: to sell the property.
• 11:41
  Speaker 2: Yeah, because you were like just done.
• 11:42
  Speaker 4: Yeah, I was just done. And I went to a
• 11:45
  Speaker 4: financial advisor to crunch the numbers for me because I
• 11:48
  Speaker 4: thought I was be at a loss. But then I
• 11:51
  Speaker 4: wasn't happy with the financial advice because I wanted to
• 11:54
  Speaker 4: see data. I wanted to see those datas so I
• 11:57
  Speaker 4: could make that decision. So yeah, but moment our goal
• 12:02
  Speaker 4: is to get the investment property into a condition where
• 12:05
  Speaker 4: it just functions in the background and I can actually
• 12:07
  Speaker 4: put the rent up to market value because I've kept
• 12:11
  Speaker 4: it quite low because of the condition. I felt so bad.
• 12:14
  Speaker 4: I'm like, I couldn't put the rent up and they're
• 12:16
  Speaker 4: living in that state. I was like, not fair.
• 12:18
  Speaker 2: But that's really nice of you to not absolutely take
• 12:21
  Speaker 2: the mickey, because I feel like a lot of landlords
• 12:23
  Speaker 2: at this point in time are just going, well, market's
• 12:27
  Speaker 2: paying this, either pay it or ship out. Someone else
• 12:30
  Speaker 2: will pay the rent. And I feel like that's a
• 12:32
  Speaker 2: really awful way to do things. But why did you
• 12:35
  Speaker 2: do that? Is that just your morals and your ethics
• 12:37
  Speaker 2: or where does this come from.
• 12:39
  Speaker 4: I started renting myself around the same time these issues
• 12:43
  Speaker 4: came up, and I even just asked for like a
• 12:46
  Speaker 4: fly screen door, like just can I please have a
• 12:48
  Speaker 4: fly screen on the front door, And they said no,
• 12:51
  Speaker 4: and I like that would have cost them like thirty dollars.
• 12:53
  Speaker 4: So and they kept bumping the rent up on us.
• 12:56
  Speaker 4: Hence why we now live with the in laws, because
• 12:59
  Speaker 4: every they kept bumping it up and I kept going
• 13:02
  Speaker 4: back saying no, I will accept CPI increase and they
• 13:06
  Speaker 4: match that. But it's just I thought it was unfair.
• 13:09
  Speaker 4: So how can I put higher rent on them if
• 13:11
  Speaker 4: they're in poor living conditions?
• 13:13
  Speaker 2: So you just have your head screwed on. I like that.
• 13:16
  Speaker 2: Tell me a bit more. You mentioned that one of
• 13:18
  Speaker 2: the things that was getting in the way of your
• 13:20
  Speaker 2: money goals was your rental property issues. Tell me a
• 13:24
  Speaker 2: bit more about that. When did they start to come
• 13:28
  Speaker 2: to fruition, Like did you purchase Obviously, when you purchase,
• 13:32
  Speaker 2: hopefully you had a good solicitor that took you through
• 13:34
  Speaker 2: like here's the strata, this is what it's going to cost,
• 13:36
  Speaker 2: this is what it means. Here are any potential issues.
• 13:38
  Speaker 2: But when did it become a massive issue for you?
• 13:42
  Speaker 2: And yeah, tell me a bit more about that, because
• 13:44
  Speaker 2: that's one of the like I don't want to say
• 13:46
  Speaker 2: horror stories, but it's one of the things that if
• 13:47
  Speaker 2: you're purchasing property, you just don't want to run into
• 13:50
  Speaker 2: that issue.
• 13:51
  Speaker 4: Yeah, and when I did purchase the property with my fiance,
• 13:56
  Speaker 4: I grilled everything, so it's definitely taught me learning curve.
• 14:00
  Speaker 4: But yeah, I recognized it when like I didn't have
• 14:04
  Speaker 4: any communication or any issues for two years, so I
• 14:06
  Speaker 4: just fought things for good. And then I noticed on
• 14:09
  Speaker 4: one of the inspections at the bathroom looked like there
• 14:11
  Speaker 4: was a bit of mold, and I just emailed and
• 14:13
  Speaker 4: was like, hey, like, can you send me some more
• 14:15
  Speaker 4: photos If that's mold, I would like to get a
• 14:17
  Speaker 4: builder in and get things sorted, like can you arrange
• 14:20
  Speaker 4: an inspection? And a response back it was just oh,
• 14:24
  Speaker 4: you could just tell it was going to go downhill.
• 14:26
  Speaker 4: It was like there's been a leak, our builders onto it.
• 14:30
  Speaker 4: Don't worry about it.
• 14:31
  Speaker 2: I'm sorry, that's not what I asked.
• 14:33
  Speaker 4: Yeah. I got the property manager and was like, look
• 14:35
  Speaker 4: like that's great, thank you for being on top of it,
• 14:37
  Speaker 4: but like, I still want to do an inspection. When
• 14:40
  Speaker 4: did the league happen? It was six months ago. They
• 14:42
  Speaker 4: didn't tell me. Yeah, and as soon as that happened,
• 14:45
  Speaker 4: I was like, shit, here we go. So I kept
• 14:48
  Speaker 4: pushing for an inspection. And it took about a couple
• 14:51
  Speaker 4: of months and I finally got to like go in
• 14:52
  Speaker 4: and have a look, and oh, it was like the
• 14:55
  Speaker 4: most a fighting day because like if I sold the
• 14:58
  Speaker 4: house on the spot that inspect I potentially would have
• 15:01
  Speaker 4: had to drop the pice by like twenty thirty k
• 15:04
  Speaker 4: because of the amount of work that was needed. And
• 15:06
  Speaker 4: it was so defining considering I work so hard, Like
• 15:09
  Speaker 4: at one point I had five jobs, Like there was
• 15:12
  Speaker 4: even points where.
• 15:12
  Speaker 2: I had two jobs.
• 15:14
  Speaker 4: Yeah, because I was like, I was so determined to
• 15:17
  Speaker 4: get this house.
• 15:18
  Speaker 2: No, I love that so much.
• 15:20
  Speaker 4: Yeah, so I was like, this is so defining.
• 15:23
  Speaker 2: And to not be told You're like, I'm literally paying
• 15:26
  Speaker 2: you to be in communication with me and you're not.
• 15:30
  Speaker 2: So what happened then? Obviously there was mold and it
• 15:34
  Speaker 2: was identified.
• 15:35
  Speaker 4: Yeah, there was so many things, Like I knew I
• 15:39
  Speaker 4: purchased a house with an issue in the bedroom and
• 15:42
  Speaker 4: the issue had grown. No one told me the balcony
• 15:45
  Speaker 4: flooded the living room. There's so many issues. So from there,
• 15:50
  Speaker 4: like I tried to build a relationship with the tenants.
• 15:53
  Speaker 4: Once the real estate left. He kept trying to avoid
• 15:56
  Speaker 4: me talking to.
• 15:57
  Speaker 2: Them, so of course they do I was.
• 16:00
  Speaker 4: Like, you're kidding. So I gave him my email address
• 16:03
  Speaker 4: and I'm like blind see see me and everything, like,
• 16:05
  Speaker 4: I'm going to try and track things from here. They
• 16:08
  Speaker 4: don't get along with the real estate. They don't report
• 16:10
  Speaker 4: things to the real estate because they had a lot
• 16:12
  Speaker 4: of issues, so things weren't getting reported.
• 16:15
  Speaker 2: A lack of communication ends up ruining everything.
• 16:18
  Speaker 4: Yeah, so I was like, just tell me. So I
• 16:21
  Speaker 4: did a whole page of works and I sat down
• 16:24
  Speaker 4: with the property manager and said, look, draw a line
• 16:26
  Speaker 4: in the sand. Whatever's history, I don't care, like it
• 16:29
  Speaker 4: needs to be brought up to a good condition. This
• 16:32
  Speaker 4: is my list of things to do. So many times
• 16:35
  Speaker 4: I followed up for months. For every two weeks I
• 16:37
  Speaker 4: called them, I kept trying to follow through, and I
• 16:40
  Speaker 4: never got a response. I rocked up there. I've had
• 16:43
  Speaker 4: meetings with the strata manager and she said, yeah, we'll
• 16:45
  Speaker 4: get things sorted.
• 16:46
  Speaker 2: And they're not doing it. Still.
• 16:48
  Speaker 1: No.
• 16:48
  Speaker 4: Well, they did go in and fix the bedroom, but
• 16:51
  Speaker 4: they were meant to fix the balcony at the same time.
• 16:53
  Speaker 4: And for a year straight, they kept telling me that
• 16:56
  Speaker 4: it's being fixed. They're like, it's been fixed, it's been fixed.
• 16:58
  Speaker 4: I'm like, showed me the invoice. I want to see
• 17:00
  Speaker 4: the invoice. They never sent me the invoice. I put
• 17:03
  Speaker 4: motions down, I phone called, emailed everything for a year,
• 17:07
  Speaker 4: and then I got I had enough. The balcony flooded.
• 17:10
  Speaker 4: I put five grand worth of electrical through that property,
• 17:13
  Speaker 4: and all the water I went through my new electrical
• 17:16
  Speaker 4: and I lost it. I was so angry. I called
• 17:19
  Speaker 4: them and I was like, you promised me.
• 17:20
  Speaker 2: Did they ever have to pay for that? Because to me,
• 17:23
  Speaker 2: that just seems like negligence and that's not your responsibility,
• 17:26
  Speaker 2: and I mean that becomes quite complicated, But what did.
• 17:30
  Speaker 4: You do well? When I called her, she was kind
• 17:33
  Speaker 4: of like gaslighting me a little bit because she said
• 17:36
  Speaker 4: it had been done and like send me the invoice
• 17:38
  Speaker 4: on the phone and it didn't have anything for the balcony.
• 17:41
  Speaker 4: And she's like, oh, call my contractor. I was like,
• 17:43
  Speaker 4: you can call me back in an hour with an answer. Please.
• 17:45
  Speaker 4: If not, I'm going to fair trading.
• 17:46
  Speaker 2: You're a savage, you're on the job. You can work
• 17:48
  Speaker 2: for me. Like, I don't know what you'll do, and
• 17:51
  Speaker 2: I don't have these issues, but like I just know
• 17:53
  Speaker 2: that I want you on my team. If I've got
• 17:55
  Speaker 2: an issue. I'm calling you, You're going to fix it.
• 17:58
  Speaker 4: I got to that point because I was so stressed,
• 18:00
  Speaker 4: and I was like, I've given you two years to
• 18:02
  Speaker 4: actually come to the party, and I tried to be
• 18:04
  Speaker 4: nice and support you and like just work together, and
• 18:08
  Speaker 4: you just threw it in my face. So yeah, I
• 18:10
  Speaker 4: started to become a bit savvy.
• 18:12
  Speaker 2: Yeah. Good, you have to be, especially when they're literally
• 18:16
  Speaker 2: walking all over you. So what happened? I know that
• 18:20
  Speaker 2: they ended up getting the boot.
• 18:22
  Speaker 4: Yeah, so they called me back and said I was right,
• 18:25
  Speaker 4: and I was.
• 18:25
  Speaker 2: Like, okay, wow, what a coincidence.
• 18:27
  Speaker 4: Yeah. I was like, thank you for finally listening. So
• 18:30
  Speaker 4: after that phone call, Yeah, that was a line in
• 18:32
  Speaker 4: the sand for me, I was like I'm done. I
• 18:33
  Speaker 4: went and got a new property manager. But obviously changing
• 18:37
  Speaker 4: the strata is quite hard because you have to go
• 18:39
  Speaker 4: through the right process and get everyone to agree.
• 18:42
  Speaker 2: With your house. How many different owners are there in
• 18:45
  Speaker 2: your strata?
• 18:46
  Speaker 4: Thankfully there's only six. I'm not in a massive unit.
• 18:49
  Speaker 4: And it also is you think it's fifty percent of
• 18:52
  Speaker 4: people at the meeting, you need fifty percent of that boat.
• 18:55
  Speaker 4: So everyone at the meeting because half the people didn't
• 18:58
  Speaker 4: show up. They agreed, so thankfully I had a relationship
• 19:03
  Speaker 4: with them, and they also have similar issues that we
• 19:05
  Speaker 4: could move forward to a new strata.
• 19:07
  Speaker 2: I'm always so confused, like as somebody who has worked
• 19:11
  Speaker 2: my butt off to get into my first property and
• 19:13
  Speaker 2: you'd be the same. It blows my mind that you
• 19:16
  Speaker 2: could organize a strata meeting and then people literally don't
• 19:20
  Speaker 2: turn up. I'm like, this is like a property that
• 19:23
  Speaker 2: you own, this is your wealth, Like why don't you care?
• 19:26
  Speaker 2: Especially because I'm assuming that you well articulated to them
• 19:30
  Speaker 2: why you needed the meeting and shared all the issues,
• 19:33
  Speaker 2: like if they're issues in my house, but they're probably
• 19:36
  Speaker 2: in yours as well, Like do you want this? Like
• 19:38
  Speaker 2: we're spending money on this and you don't care, Like
• 19:41
  Speaker 2: what in the wealth? Like how?
• 19:43
  Speaker 4: Yeah, And that's a common thing. And that's my tip.
• 19:46
  Speaker 4: If you're having any issues in astrata, get your ass
• 19:48
  Speaker 4: for the meeting, jump on the strata committee, like don't
• 19:51
  Speaker 4: ignore it.
• 19:52
  Speaker 2: Yeah one hundred percent. And I feel like saying I'm
• 19:54
  Speaker 2: on the strata committee sounds really complicated, but it's not not. Yeah,
• 19:58
  Speaker 2: it's absolutely not all right, So tell me a bit more.
• 20:01
  Speaker 2: You got somebody new you got all the issues sorted?
• 20:04
  Speaker 2: How much did it cost you?
• 20:06
  Speaker 4: Thankfully a lot of the issues fell back to strata,
• 20:09
  Speaker 4: So at the moment, I haven't actually had to do
• 20:12
  Speaker 4: that much of money out of my own pocket, but
• 20:16
  Speaker 4: I do have around fifteen K estimated of renovations that
• 20:20
  Speaker 4: I need to do now.
• 20:21
  Speaker 2: Yeah, And is that off the back of all the
• 20:23
  Speaker 2: damage or is that you adding value to the property?
• 20:26
  Speaker 4: All the painting in the carpet would be off the
• 20:28
  Speaker 4: back of the damage, but everything else would be us
• 20:31
  Speaker 4: adding value. Yeah.
• 20:32
  Speaker 2: Okay, so not too bad. And I mean fresh carpets
• 20:35
  Speaker 2: and stuff like that expensive, but it makes the apartment
• 20:38
  Speaker 2: just feel so much more welcoming as well. So I
• 20:41
  Speaker 2: mean there's probably a lot of value in doing that.
• 20:43
  Speaker 2: So now all of that is there, there's fifteen grand
• 20:46
  Speaker 2: worth of things that you probably need to spend on.
• 20:48
  Speaker 2: Is that kind of your big money goal? Is that
• 20:50
  Speaker 2: what you're saving for or where's that going to come from?
• 20:53
  Speaker 2: How's that going to work?
• 20:54
  Speaker 4: Well, I've already got that money in savings.
• 20:57
  Speaker 2: Oh look at you go, otto worryve, I've already got
• 21:00
  Speaker 2: it in savings. Okay.
• 21:03
  Speaker 4: It's just also like if I'm worried because that is
• 21:06
  Speaker 4: a big chunk of my savings. After the house, I'm
• 21:09
  Speaker 4: just like, oh, what are we going to have left?
• 21:11
  Speaker 2: But it's a bit like that right. Property can feel
• 21:14
  Speaker 2: like an absolute money pit, and it's a massive goal
• 21:18
  Speaker 2: for so many people in our community, and I totally
• 21:21
  Speaker 2: get it. It was a massive goal for me as well.
• 21:23
  Speaker 2: But you really need to weigh up what that could
• 21:27
  Speaker 2: add to your financial burden. Like for us, we're exactly
• 21:31
  Speaker 2: the same. Like we found out all the plumbing in
• 21:33
  Speaker 2: the back of the house had literally been done DIY,
• 21:37
  Speaker 2: like it all had to be replaced, and because it
• 21:40
  Speaker 2: wasn't identified in the building and pest inspection, like, it
• 21:44
  Speaker 2: wasn't something that I could weigh up like money diarist.
• 21:47
  Speaker 2: When we removed the deck on the back of the house,
• 21:50
  Speaker 2: their idea of plumbing was they had literally hit a
• 21:55
  Speaker 2: hole into a storm water drain. Like I am pretty
• 21:58
  Speaker 2: convinced they just did it with a hammer. They smashed
• 22:01
  Speaker 2: a hole into the store water drain. It wasn't even cut,
• 22:03
  Speaker 2: it was smashed, and that was how they were dealing
• 22:06
  Speaker 2: with the drainage under the deck.
• 22:08
  Speaker 4: I see all that at work too with compliance because
• 22:12
  Speaker 4: of town planning. Yeah, and some of the stuff that
• 22:15
  Speaker 4: they do is insane. So the whine when I bought
• 22:17
  Speaker 4: this property, I checked everything.
• 22:19
  Speaker 2: I was calling counsel, So you did everything and still
• 22:22
  Speaker 2: got stooged.
• 22:23
  Speaker 4: Oh no, this was my second property. I checked everything.
• 22:26
  Speaker 4: The first property, the rental, I had no idea of stout.
• 22:29
  Speaker 2: Okay, well, that makes me feel a little bit better
• 22:32
  Speaker 2: that you didn't get absolutely screwed from the start. But
• 22:35
  Speaker 2: it is really stressful, right like, and if you don't
• 22:37
  Speaker 2: know what you're looking for, like you just don't know.
• 22:39
  Speaker 2: And that's why paying the professionals can really help sometimes.
• 22:43
  Speaker 2: Like I remember when we were first purchasing my house,
• 22:47
  Speaker 2: we found this like three bedroom apartment and at the time,
• 22:50
  Speaker 2: our budget only allowed for we thought maybe like a
• 22:53
  Speaker 2: two bedroom, like I don't know, unit or something. So
• 22:56
  Speaker 2: this three bedroom apartment seemed really lux and I was
• 22:59
  Speaker 2: very excited about it until my solicitor was like, Victoria,
• 23:03
  Speaker 2: have you read the minutes of the strata meetings? And
• 23:06
  Speaker 2: I'm like, no, I didn't even know you could do that.
• 23:08
  Speaker 2: And all of the cladding on the outside of that
• 23:11
  Speaker 2: property was needing to be replaced because it was a
• 23:14
  Speaker 2: fire hazard and it was going to cost like four
• 23:17
  Speaker 2: hundred grand across all of the people that own the apartments,
• 23:21
  Speaker 2: So in addition to us purchasing, it was very clear
• 23:25
  Speaker 2: that there was probably fifty thousand dollars in addition that
• 23:28
  Speaker 2: we would have needed to tip in at some point
• 23:30
  Speaker 2: to replace the cladding. And I was like, I didn't
• 23:33
  Speaker 2: even know that was a thing, Like, it's crazy to
• 23:35
  Speaker 2: think that if we hadn't looked, we might have ended
• 23:38
  Speaker 2: up in a situation which would have been financially crippling
• 23:40
  Speaker 2: at the time, like it would have absolutely ruined us.
• 23:43
  Speaker 2: I probably would have had to sell, Like that's not
• 23:45
  Speaker 2: something that I would have had.
• 23:46
  Speaker 4: And that's a very good point that you bring that up,
• 23:48
  Speaker 4: because now in Sydney, a lot of my friends can
• 23:51
  Speaker 4: only buy sort of apartments because that's in their price range.
• 23:53
  Speaker 4: And if you don't look at the minutes and you
• 23:55
  Speaker 4: don't chat with your solucidar and go into that detail,
• 23:58
  Speaker 4: you could be in a situation like that. Because I
• 24:00
  Speaker 4: have a friend who's currently in that situation. That's a
• 24:03
  Speaker 4: really good point.
• 24:04
  Speaker 2: And there are probably people listening to this going what
• 24:06
  Speaker 2: are you talking about? But if your apartment building or
• 24:09
  Speaker 2: the apartment building that you're looking at has a strata
• 24:12
  Speaker 2: or a body corporate. They're going to have meetings and
• 24:15
  Speaker 2: they might have them quarterly or every year, but you
• 24:18
  Speaker 2: will have access to the meeting minutes, so the notes
• 24:21
  Speaker 2: from the meetings to see what they were talking about,
• 24:24
  Speaker 2: and then you can see if there are any issues
• 24:25
  Speaker 2: from that, because if I was in a strata, you
• 24:28
  Speaker 2: know what I'm bringing up in the meeting, the issues
• 24:30
  Speaker 2: I have.
• 24:31
  Speaker 4: And if you get to a point where you say
• 24:33
  Speaker 4: you've already purchased it and you don't know where to
• 24:35
  Speaker 4: go from there, like fair Trading has been very helpful
• 24:37
  Speaker 4: and they have a lot of information and you can
• 24:39
  Speaker 4: have a chat with them about your issues. So yeah,
• 24:43
  Speaker 4: if you do get to a point where you have
• 24:44
  Speaker 4: purchased in I did lean on Fair Training.
• 24:48
  Speaker 2: Good because that's what they're there for.
• 24:51
  Speaker 4: The only thing is but if you put a complaint in.
• 24:53
  Speaker 4: They're there to protect the strata. They're not there to
• 24:56
  Speaker 4: advertise the issues. So it's very hard to determine which strata.
• 25:01
  Speaker 2: That's so stressful. All right, money dires, let's go to
• 25:04
  Speaker 2: a really quick break on the flip side. I want
• 25:06
  Speaker 2: to ask you a few more questions because you said, no,
• 25:09
  Speaker 2: that was my first property and I was like, excuse me, okay, baller,
• 25:13
  Speaker 2: I want to talk about investments and debt and your
• 25:15
  Speaker 2: best and worst money habits, So guys, don't go anywhere money,
• 25:22
  Speaker 2: diarist do. We are back and we have been talking
• 25:25
  Speaker 2: about strata, which has been honestly really interesting for me
• 25:28
  Speaker 2: but probably eye opening for a lot of people who
• 25:30
  Speaker 2: probably didn't realize how much control you can still have
• 25:34
  Speaker 2: while being in a strata. You mentioned before nov that
• 25:38
  Speaker 2: was with my first property. The next question I've got
• 25:41
  Speaker 2: is do you have any investments? My friend? How many
• 25:43
  Speaker 2: houses do you have?
• 25:45
  Speaker 4: So with houses, we just successfully got our second house. Congrats,
• 25:51
  Speaker 4: So I avoided strata at like, I did not go
• 25:55
  Speaker 4: get anything with strata. So yeah, we are in settlement
• 25:57
  Speaker 4: at the moment.
• 25:58
  Speaker 2: Oh, how exciting. Tell me So this first property, did
• 26:02
  Speaker 2: you buy that on your own?
• 26:03
  Speaker 4: Yeah? So my first property was on my own. I
• 26:05
  Speaker 4: actually do give credit to my mother because she did
• 26:08
  Speaker 4: help me a lot with that. A lot of people
• 26:10
  Speaker 4: didn't take me seriously twenty two year old like trying
• 26:13
  Speaker 4: to get a house. So I do give her a
• 26:14
  Speaker 4: lot of credit. So she did help with guaranteal as well.
• 26:18
  Speaker 4: And then after a year or two and I had
• 26:20
  Speaker 4: better finances. I refinanced to get her offt alone.
• 26:23
  Speaker 2: How good is that though, that after two years you
• 26:26
  Speaker 2: got to get rid of her as a guaranteur, Like
• 26:28
  Speaker 2: I feel like so many times when you're speaking about guarantees,
• 26:31
  Speaker 2: you think it's going to be for the life of
• 26:32
  Speaker 2: the loan. But why did it free up? Did you
• 26:35
  Speaker 2: pay off enough or did the property price change? Like
• 26:38
  Speaker 2: did you end up with some more equity?
• 26:40
  Speaker 4: How I did try and do as much as possible
• 26:43
  Speaker 4: in that first two years towards the principle. I did
• 26:46
  Speaker 4: get a bit of a pay increase as well, and
• 26:48
  Speaker 4: with the second job it helped me with a lot
• 26:52
  Speaker 4: of the bills that I would have originally taken from savings,
• 26:55
  Speaker 4: so I could get a bit of a chunk of
• 26:57
  Speaker 4: savings as well. So all my fine answers were a
• 27:00
  Speaker 4: little bit better than the first assessment of my life
• 27:03
  Speaker 4: with it for the loan, so that helped, and I
• 27:07
  Speaker 4: was able to get them off. And it was also
• 27:08
  Speaker 4: very low interest rates at the time. I think I
• 27:10
  Speaker 4: refinanced and it was about two percent.
• 27:12
  Speaker 2: Okay, nice for some that sunheard of in this day
• 27:15
  Speaker 2: and age. Yes, yeah, So tell me a little bit
• 27:18
  Speaker 2: more about that first property. I'm really pervy. How much
• 27:20
  Speaker 2: did it cost? I know you had a guarantee, but like,
• 27:23
  Speaker 2: how much did you have to save? How much did
• 27:25
  Speaker 2: it cost? What was it worth? What's it worth now?
• 27:27
  Speaker 2: Like I need all the juicy dats, like the babe,
• 27:29
  Speaker 2: this is anonymous, Like I want to know all the
• 27:32
  Speaker 2: details that would be inappropriate to ask you if we're
• 27:35
  Speaker 2: at dinner together.
• 27:36
  Speaker 4: No, that's fine. So the first property, the rental, it
• 27:39
  Speaker 4: was four and a half and I had forty five
• 27:42
  Speaker 4: K savings already for the deposit. My parents were guarantel
• 27:47
  Speaker 4: for around about ninety K to help me with that,
• 27:51
  Speaker 4: so I ended up getting the full loan. It's currently been.
• 27:56
  Speaker 4: I had to do a reevaluation for the next property.
• 27:58
  Speaker 4: It's currently sitting at five seventy five or something.
• 28:01
  Speaker 2: Oh how good is that?
• 28:03
  Speaker 4: Yeah? So, and I think I've only had it for
• 28:05
  Speaker 4: about six years and it's gone up. So it's not
• 28:08
  Speaker 4: like obviously as much as the house. And it's a
• 28:10
  Speaker 4: little bit different to a unit because it's actually the townhouse.
• 28:13
  Speaker 4: It's like a duplex, so that has affected the value
• 28:16
  Speaker 4: a little bit. But anything up is better than nothing.
• 28:19
  Speaker 2: I'm sorry, that's a lot up. Like, yeah, I always say,
• 28:22
  Speaker 2: like in this economy, but literally in this economy, for
• 28:26
  Speaker 2: it to have gone from four point fifty to five
• 28:29
  Speaker 2: seventy five, like that is very nice because, as you
• 28:32
  Speaker 2: guys know, I run a mortgage broking business, sealer money,
• 28:35
  Speaker 2: and we talk every day with people about buying property,
• 28:38
  Speaker 2: and we really have to dispel this idea that property
• 28:41
  Speaker 2: is going to work the same way that it did
• 28:44
  Speaker 2: for your parents. So like when my parents had the
• 28:47
  Speaker 2: ability to purchase, it wasn't unheard of to have a
• 28:50
  Speaker 2: property that you purchase and then twenty years later it
• 28:53
  Speaker 2: goes from being worth like fifty grand to like four meal.
• 28:56
  Speaker 2: That's obviously a little bit sensationalized. Like that was quite
• 29:01
  Speaker 2: you know, you would believe it that stuff did happen.
• 29:05
  Speaker 2: It doesn't happen anymore because our economy can't sustain it.
• 29:08
  Speaker 2: But to see a property go up a couple of
• 29:10
  Speaker 2: hundred grand, yes, please, Like I'm quite happy with that
• 29:13
  Speaker 2: for you.
• 29:14
  Speaker 4: When I got the reevaluation, I was like, oh my gosh,
• 29:17
  Speaker 4: because I was working off the previous one and that's
• 29:20
  Speaker 4: where I was like, I met a financial loss.
• 29:22
  Speaker 2: But when I saw your oh my god, yeah exactly,
• 29:25
  Speaker 2: and that's you creating wealth for yourself. Okay, so you
• 29:28
  Speaker 2: did that on your own obviously had your mum. That's
• 29:31
  Speaker 2: really good. But you have a fiance, is that who
• 29:34
  Speaker 2: you've just purchased your second property with. Tell me about
• 29:37
  Speaker 2: this purchase.
• 29:38
  Speaker 4: This purchase is out of Sydney because obviously the market
• 29:41
  Speaker 4: is bit better. I went looking with him for a
• 29:43
  Speaker 4: couple months at the time, did go looking for a house,
• 29:46
  Speaker 4: came back with a ring, and then three weeks later
• 29:48
  Speaker 4: I went up again and then found the house so
• 29:51
  Speaker 4: very nice. Yes, we purchased together. In regards to the
• 29:56
  Speaker 4: financials that we use for that, obviously my equity or
• 29:59
  Speaker 4: my financials were tied up in an asset compared to
• 30:02
  Speaker 4: my partner who was tied up in cash and savings.
• 30:04
  Speaker 4: So we had both different financial situations. So when we
• 30:09
  Speaker 4: were going for the loan, it was his money for
• 30:12
  Speaker 4: the deposit and then I did everything else and I
• 30:15
  Speaker 4: had the equity to sort of counteract that.
• 30:18
  Speaker 2: Yeah, and a good broker would have been able to
• 30:20
  Speaker 2: sit you down and go, well, this is what it's
• 30:21
  Speaker 2: going to look like money direst and here are a
• 30:23
  Speaker 2: few different options, and like talk through that. I think
• 30:26
  Speaker 2: that so many people are like Oh, it's a bit complicated.
• 30:29
  Speaker 2: Maybe we can't buy because we don't have a deposit.
• 30:31
  Speaker 2: It's like we'll actually go and talk to someone about
• 30:34
  Speaker 2: how that might work, because it can be a bit complicated,
• 30:37
  Speaker 2: but a broker can sort it all out. So what
• 30:40
  Speaker 2: did you purchase for?
• 30:41
  Speaker 4: So we purchased for seven thirty.
• 30:43
  Speaker 2: K oh, very nice? And what did you purchase for
• 30:46
  Speaker 2: seven thirty? Is it a townhouse? Is it a house?
• 30:48
  Speaker 2: Is it an apartment? I know it's not an apartment
• 30:50
  Speaker 2: because you said no strata.
• 30:51
  Speaker 4: Yeah, no strata. It's a standalone house. It's probably like
• 30:54
  Speaker 4: three bedroom, two car Okay, it's on a quite generous
• 30:59
  Speaker 4: block as well. Cold sacks, so we happyly.
• 31:02
  Speaker 2: The cold a sack.
• 31:03
  Speaker 4: How beautiful And it's probably like five minutes walk from
• 31:07
  Speaker 4: the beach.
• 31:08
  Speaker 2: How good is that?
• 31:09
  Speaker 4: Yeah? But it's a complete Rehno, like it hadn't been
• 31:12
  Speaker 4: touched in thirty years. The tenants that are in there
• 31:14
  Speaker 4: now have been there for that long. So okay, considering
• 31:17
  Speaker 4: nothing's been done to it, I'm like, this is a
• 31:20
  Speaker 4: perfect reno at the same time as we moving right
• 31:22
  Speaker 4: now and it'll be perfectly fine.
• 31:24
  Speaker 2: And is that the intention? Are you and your partner
• 31:26
  Speaker 2: going to be moving into that property.
• 31:27
  Speaker 4: We hope too. But first it'll be six months of
• 31:30
  Speaker 4: reno's at the rental property, and then it'll be rennoing
• 31:34
  Speaker 4: that new purchase and then hopefully it'll be moving up there.
• 31:37
  Speaker 2: Yeah, and so the plan is to is it still
• 31:40
  Speaker 2: leased out for the interim to the same people.
• 31:43
  Speaker 4: Yeah, thankfully, because we didn't expect to get the house
• 31:47
  Speaker 4: as quick as we did. We thought it would come
• 31:48
  Speaker 4: towards the end of the year. So yeah, we're keeping
• 31:50
  Speaker 4: them on for another six months and then when we're
• 31:53
  Speaker 4: ready to switch to that house, we can do that
• 31:56
  Speaker 4: in March. Yeah.
• 31:57
  Speaker 2: How good? And have they been good about it? Obviously
• 31:59
  Speaker 2: having lived there for so long, like they probably a
• 32:02
  Speaker 2: bit attached. What did that look like? Yeah?
• 32:05
  Speaker 4: I remember because I was the first one at the
• 32:07
  Speaker 4: inspection and the lady wouldn't let the real estate in
• 32:11
  Speaker 4: because she was so attached to the property. She didn't
• 32:14
  Speaker 4: know there was an inspection too. I don't think that
• 32:17
  Speaker 4: was communicated to her. And when I had a chat
• 32:20
  Speaker 4: with the real estate I was like, oh, I didn't
• 32:21
  Speaker 4: know if you wanted me to like interrupt or anything,
• 32:24
  Speaker 4: and he was like, no, no, no, it's just they've
• 32:25
  Speaker 4: been here for so long. They're very attached, which is
• 32:28
  Speaker 4: which is fine. Like their grandkids go through there like that,
• 32:32
  Speaker 4: you can tell they're very attached to the home.
• 32:34
  Speaker 2: Oh, that's really sad at the same time as like
• 32:37
  Speaker 2: being so sweet that they've looked after it. Like, oh,
• 32:41
  Speaker 2: money diarist, tell me about debt. So obviously you purchased
• 32:45
  Speaker 2: for four fifty. What do your mortgages look like now?
• 32:48
  Speaker 2: And do you have any other debt?
• 32:50
  Speaker 4: Yeah? So my other debt is a hextet of seven grand,
• 32:54
  Speaker 4: but I estimated that would be gone by next financial
• 32:57
  Speaker 4: year with the salary sacrifice. And then you've got my
• 33:01
  Speaker 4: rental property, which is sitting around three ninety I think
• 33:04
  Speaker 4: it is.
• 33:06
  Speaker 2: Hey, that's pretty good on a five seventy five property.
• 33:09
  Speaker 4: Okay, so I'm kind of glad that that's underneath the
• 33:12
  Speaker 4: four hundred number. That was really good to see.
• 33:14
  Speaker 2: Isn't it crazy that in our heads somehow that makes
• 33:17
  Speaker 2: a lot of sense. We're like, oh, but it's under
• 33:19
  Speaker 2: four hundred grand. It's like, well, where did you get
• 33:21
  Speaker 2: that number from? And you're like, I don't know.
• 33:22
  Speaker 4: It just feels good, Yeah, it just feels good, like
• 33:25
  Speaker 4: you've dropped down it doesn't feel as big as it
• 33:27
  Speaker 4: would if it's three nine nine, Like it.
• 33:29
  Speaker 2: Just exactly three ninet nine. That's astronomical. Three ninety Oh,
• 33:33
  Speaker 2: that's that's doable. Yeah, And what about the second property, the.
• 33:37
  Speaker 4: Second property, the I believe the loan would actually be
• 33:40
  Speaker 4: a six ninety because of the deposit we put into it.
• 33:43
  Speaker 4: So the loan isn't as the full price.
• 33:45
  Speaker 2: Yeah, because your partner had cash, didn't they. Yeah, yeah, okay,
• 33:49
  Speaker 2: so that makes a lot of sense. So it's just
• 33:51
  Speaker 2: hex and property at the moment.
• 33:52
  Speaker 4: Yes, we did pay off a car loan two, which
• 33:55
  Speaker 4: is great before the house. So we've ticked that one
• 33:58
  Speaker 4: off to already.
• 33:59
  Speaker 2: And is this partner's first property. Yes, I lokey love
• 34:03
  Speaker 2: that you were the one that got in first. You're like, oh,
• 34:05
  Speaker 2: I look at how much I bring to this relationship.
• 34:07
  Speaker 4: Yeah. Well, when I first started dating him, because I
• 34:10
  Speaker 4: knew he had that savings there, and I was like, oh,
• 34:13
  Speaker 4: like it was a little bit deflating, to be honest,
• 34:16
  Speaker 4: because I knew mine my savings were wrapped up in
• 34:18
  Speaker 4: an asset.
• 34:19
  Speaker 2: What do you mean you've got assets that are creating wealth.
• 34:22
  Speaker 2: I want to like go back and shake you and
• 34:24
  Speaker 2: be like, I'm sorry, this dude just has cash, like, h.
• 34:28
  Speaker 4: Yeah, because it was sometimes where like because you had
• 34:31
  Speaker 4: that financial behind you, especially during COVID, where you had
• 34:34
  Speaker 4: like your job wasn't secure, like sometimes you did have
• 34:36
  Speaker 4: that regret come through. Yeah, so it's hard to like
• 34:39
  Speaker 4: shake that off with the imposter syndrome as well.
• 34:41
  Speaker 2: Like I genuinely feel like women are the worst at this.
• 34:44
  Speaker 2: They're like, oh, but it's not good enough. What like
• 34:48
  Speaker 2: absolutely not? You were in absolute catch. Obviously you're engaged
• 34:52
  Speaker 2: because you said in your letter in fiance, do you
• 34:55
  Speaker 2: have wedding plans? If so, tell me about the finances, like,
• 34:58
  Speaker 2: how are we funding a wedding in this economy? My friend?
• 35:01
  Speaker 4: Yeah, well it only happened like potentially a month ago,
• 35:05
  Speaker 4: so oh.
• 35:06
  Speaker 2: My gosh, did that Actually that's so exciting.
• 35:08
  Speaker 4: And then we got the house a couple of weeks later.
• 35:10
  Speaker 2: So show me your ring, show me your ring. This
• 35:13
  Speaker 2: is very important. Oh it's like a gorgeous gold band
• 35:17
  Speaker 2: with an oval. You are living the dream, my friend.
• 35:20
  Speaker 2: Did you have any say in what that was going
• 35:22
  Speaker 2: to look like?
• 35:23
  Speaker 4: No? I had no idea it was coming. I know,
• 35:25
  Speaker 4: like I told my friends, I wanted an oval, but like, yeah,
• 35:28
  Speaker 4: he did everything. He went out and picked it like
• 35:31
  Speaker 4: I didn't have any So he did very well for
• 35:35
  Speaker 4: himself because he doesn't usually plan a lot of things.
• 35:38
  Speaker 4: So the fact that he planned this and then like
• 35:41
  Speaker 4: the proposal and everything, I'm.
• 35:42
  Speaker 2: I'm surprised you. How did he propose? We need to know.
• 35:45
  Speaker 4: Well, we went looking for houses and afterwards, after we
• 35:49
  Speaker 4: finished the whole day of looking at like ten different houses,
• 35:52
  Speaker 4: we went to like a lookout and he asked me
• 35:54
  Speaker 4: at the lookout.
• 35:55
  Speaker 2: Oh my god, why is that so wholesome? There's something
• 35:59
  Speaker 2: about like simple but well thought through proposal.
• 36:02
  Speaker 4: Yeah, and we'll think it was like he's like, well,
• 36:04
  Speaker 4: if we're buying something for the rest of our lives,
• 36:06
  Speaker 4: might as well have like a ring. So oh good.
• 36:09
  Speaker 4: I love that.
• 36:10
  Speaker 2: So have you spoken about weddings.
• 36:12
  Speaker 4: We've spoken about like a location, but considering the house
• 36:16
  Speaker 4: and the stress, like I didn't realize how insane settlement
• 36:18
  Speaker 4: and stuff were. I haven't really had time to like
• 36:21
  Speaker 4: really pick a date or look at anything.
• 36:23
  Speaker 2: Ah. That is so fair, especially because you've only engaged
• 36:27
  Speaker 2: for a month, Like you have so much time. Money arsed,
• 36:30
  Speaker 2: What do you think your best money habit is.
• 36:33
  Speaker 4: I kind of have too, considering I was brought up
• 36:36
  Speaker 4: with only thinking about like needs and wants and being
• 36:40
  Speaker 4: able to split that into two separate categories. I usually
• 36:43
  Speaker 4: only buy things that I need and like maybe like
• 36:46
  Speaker 4: once a season or something like winter or summer, I'll
• 36:48
  Speaker 4: go out and buy things that I want, like with clothing.
• 36:51
  Speaker 4: I don't care about brands and all that sort of stuff. Yeah,
• 36:54
  Speaker 4: I'm pretty good at sticking to what I need and
• 36:57
  Speaker 4: making a list of what I want and then figuring
• 36:59
  Speaker 4: out which one I'm going to do first. But the
• 37:02
  Speaker 4: main money habit that I have been doing since I
• 37:05
  Speaker 4: was young was my employer splits my pay up for
• 37:10
  Speaker 4: me and it goes into four separate accounts like what
• 37:13
  Speaker 4: saving spending, and a house account. So when I get
• 37:17
  Speaker 4: my pay I only see two hundred and fifty dollars,
• 37:21
  Speaker 4: which is my spending, and in my mind, I'm only
• 37:24
  Speaker 4: getting paid two hundred and fifty dollars, even though in
• 37:26
  Speaker 4: the background the money is going elsewhere already.
• 37:29
  Speaker 2: So your employee lets you set it up that they
• 37:32
  Speaker 2: pay into like four separate accounts for you.
• 37:35
  Speaker 4: Yeah, because they have a fancy system, it allows you
• 37:38
  Speaker 4: to do that. But my partner just does the automatic transfers,
• 37:42
  Speaker 4: so you can do that as well with your own bank.
• 37:44
  Speaker 2: How good, So you don't even see it, and then
• 37:46
  Speaker 2: you've worked out in your like little budget and cash
• 37:48
  Speaker 2: flow system that two hundred and fifty dollars is it
• 37:51
  Speaker 2: a month a week? Like? How often is that on week?
• 37:54
  Speaker 4: And it's just that's the leftover after all my things
• 37:57
  Speaker 4: are dimmed up.
• 37:58
  Speaker 2: And what do you spend that two fifty on? Is
• 38:00
  Speaker 2: that like your fun money or is that like groceries
• 38:02
  Speaker 2: or what does that look like?
• 38:04
  Speaker 4: I think that's just a bit more fun money. It's
• 38:05
  Speaker 4: just like if I ever want like a coffee during
• 38:07
  Speaker 4: the week or something like that, or if I go
• 38:09
  Speaker 4: out on the weekend, I use that money and if
• 38:11
  Speaker 4: there's anything left over, I just turned for it to
• 38:13
  Speaker 4: my savings and start from two point fifty again.
• 38:16
  Speaker 2: So that's yeah, I feel like that's such a It's
• 38:19
  Speaker 2: very similar to my money masterclass, which you've probably seen online,
• 38:24
  Speaker 2: but I talk about that fund being your food, fuel
• 38:27
  Speaker 2: and fun so like anything that you tap your card for,
• 38:30
  Speaker 2: like you know, if you're getting petrol, you're getting a
• 38:32
  Speaker 2: coffee or you know, for me, I used to play netball,
• 38:35
  Speaker 2: so like that amount of money would go into there,
• 38:36
  Speaker 2: and every single Thursday, I would direct debitit to that account,
• 38:41
  Speaker 2: and then on that same Thursday, before it transferred, I
• 38:44
  Speaker 2: go in and get rid of the excess and be like, okay, cool,
• 38:47
  Speaker 2: starting clean. And I feel like it's such a good
• 38:50
  Speaker 2: budgeting hack because in the back of my head I
• 38:52
  Speaker 2: always knew, all right, Thursday Friday, and I had it
• 38:55
  Speaker 2: on a Thursday because I knew that the weekend was
• 38:58
  Speaker 2: my busiest time. I'm like, all right, so Thursday, I'm
• 39:01
  Speaker 2: gonna have new cash. Like in my head, I'm like,
• 39:03
  Speaker 2: it's new cash, and so if I wanted to go
• 39:06
  Speaker 2: for brunch, I'd be like, oh, okay, that's probably you know,
• 39:08
  Speaker 2: like fifty dollars or whatever it is. So like in
• 39:10
  Speaker 2: my head, I'm like I can only do that once.
• 39:12
  Speaker 2: And like budgeting with a smaller amount of money, do
• 39:16
  Speaker 2: you feel that it takes the stress off? Because it
• 39:18
  Speaker 2: did for me, Like I feel like I'm less stressed
• 39:20
  Speaker 2: because all the other stuff is automated in the background.
• 39:23
  Speaker 4: Yeah, it did a little bit. But then when it
• 39:25
  Speaker 4: got to the point where like because I did have
• 39:28
  Speaker 4: a bad relationship once with money, where like I bought
• 39:32
  Speaker 4: a Kentiki trip, and I cried because it was a
• 39:34
  Speaker 4: want and not a need, and it was the biggest
• 39:37
  Speaker 4: payment I've ever done. And I remember I was so
• 39:40
  Speaker 4: young at the time and I was so upset. So
• 39:42
  Speaker 4: at one point it did get to a point where
• 39:45
  Speaker 4: it's like, oh, I don't have any money, and I
• 39:46
  Speaker 4: didn't want to tap into that savings, even though I
• 39:49
  Speaker 4: knew I had a big chunk of savings. And I
• 39:51
  Speaker 4: think it's because I had it on the house and
• 39:53
  Speaker 4: I was taking it away from that dream and putting
• 39:55
  Speaker 4: it to something else. So at a point it did.
• 39:59
  Speaker 4: It was a little bit negative because I kept being like,
• 40:01
  Speaker 4: I don't have any money, when really I do. But
• 40:04
  Speaker 4: once those bills at the bill's account started telling up,
• 40:08
  Speaker 4: like oh my god, it was so much easier when
• 40:10
  Speaker 4: a bill came in, I can just pay it because
• 40:12
  Speaker 4: I knew that I had at least a year of
• 40:14
  Speaker 4: bill saved up. So it did take a weight off
• 40:17
  Speaker 4: my shoulders.
• 40:17
  Speaker 2: I feel like that's where people just assume that you
• 40:20
  Speaker 2: must be really good at money, therefore it doesn't stress you.
• 40:23
  Speaker 2: And that's where we need to do a lot of
• 40:24
  Speaker 2: work around our money mindset and what that money is
• 40:27
  Speaker 2: actually for and if it's for fun, it's for holidays,
• 40:31
  Speaker 2: Like you've got to find a way to enable yourself
• 40:33
  Speaker 2: to spend it. Otherwise we're going to just be stressed
• 40:36
  Speaker 2: about money forever. Have you changed your mindset around that now?
• 40:39
  Speaker 4: Yeah, So after my little travels, I did sort of
• 40:43
  Speaker 4: get a different attitude where like, experiences and things that
• 40:47
  Speaker 4: I want sometimes are worth it, and that even though
• 40:50
  Speaker 4: it is a want and you don't need it, like,
• 40:53
  Speaker 4: it's fine to spend that money if you're going to
• 40:55
  Speaker 4: be happy. So like, for example, I moved out with
• 40:58
  Speaker 4: my partner after COVID and we started renting, and everyone
• 41:01
  Speaker 4: told me renting is dead money, but we are able
• 41:04
  Speaker 4: to be together every day and that experience.
• 41:07
  Speaker 2: See, I think it's a lifestyle choice. Rent money is
• 41:09
  Speaker 2: not dead money. At the end of the day, You're
• 41:11
  Speaker 2: going to have to pay in some way, shape or
• 41:13
  Speaker 2: form to put a roof over your head. Like exactly,
• 41:16
  Speaker 2: if you've got the privilege of living a home, fantastic,
• 41:18
  Speaker 2: but like that's not something that everybody has. So whether
• 41:21
  Speaker 2: you're paying cheap rent or expensive rent, that comes down
• 41:24
  Speaker 2: to lifestyle costs and the lifestyle you want to lead.
• 41:27
  Speaker 2: And I think that the idea that rent money is
• 41:29
  Speaker 2: dead money. It's like, well, actually it's not. And that's
• 41:32
  Speaker 2: actually a pretty entitled thing for people to think, because
• 41:35
  Speaker 2: we all need to put a roof over.
• 41:36
  Speaker 4: Our head exactly. And the experience of living with my
• 41:39
  Speaker 4: partner when you just were in COVID and I couldn't
• 41:42
  Speaker 4: see him for like six weeks straight, like it was
• 41:45
  Speaker 4: a relief.
• 41:46
  Speaker 2: Yeah, and it would have been so stressful.
• 41:48
  Speaker 4: Yeah, I was happy to pay for that like.
• 41:50
  Speaker 2: One hundred percent. All right, tell me, now, what do
• 41:53
  Speaker 2: you think your worst money habit is.
• 41:55
  Speaker 4: I think I overcomplicate things, Like even my brokers like
• 42:00
  Speaker 4: you have too many bank accounts.
• 42:02
  Speaker 2: So sit down, I'll do what I want.
• 42:04
  Speaker 4: Yeah, I think I overcomplicate things. I look at things
• 42:06
  Speaker 4: too much, or I go through the budget too much,
• 42:08
  Speaker 4: and I read you the formula too much, especially when
• 42:11
  Speaker 4: it comes to at the moment I'm trying to conjoin
• 42:13
  Speaker 4: finances with my partner and it because I overthink everything,
• 42:18
  Speaker 4: or I have so many bank accounts, it's actually making
• 42:20
  Speaker 4: it more complicated than it should be. And I think
• 42:23
  Speaker 4: I'm just going in a downward spiral. So yeah, and
• 42:26
  Speaker 4: now that we've purchased everything with the house, I'm like,
• 42:29
  Speaker 4: I'm going to have to redo this again, and that's
• 42:31
  Speaker 4: like I don't want to, but I know I need to.
• 42:34
  Speaker 2: Yeah, and how do you manage that at the moment?
• 42:36
  Speaker 2: Are you're a spreadsheet girly? Are you a back of
• 42:38
  Speaker 2: the envelope girl? Is it all in your brain? Like
• 42:41
  Speaker 2: how are you budgeting?
• 42:42
  Speaker 4: I have a spreadsheet. I'm a massive spreadsheet pan So
• 42:45
  Speaker 4: at the moment, I haven't got a budget spreadsheet updated,
• 42:49
  Speaker 4: but I have a spreadsheet with every single bill that
• 42:52
  Speaker 4: we've had in the past six weeks. Because our bills
• 42:55
  Speaker 4: came at the same time.
• 42:56
  Speaker 2: Oh how good that would be so handy.
• 42:59
  Speaker 4: Yeah, it was like, when's the billed?
• 43:01
  Speaker 1: You?
• 43:01
  Speaker 4: What account are we going to pay from? Because we've
• 43:03
  Speaker 4: got accounts everywhere and we're not joint yet, and who
• 43:06
  Speaker 4: it's to just because all our bills came at the
• 43:09
  Speaker 4: same time as we're paying everything for settlement.
• 43:11
  Speaker 2: Yeah, and it's so stressful, it's so overwhelming. Hey, all right, Well,
• 43:15
  Speaker 2: I'm actually going to give you my money masterclass because
• 43:17
  Speaker 2: in my money masterclass, there is a so there's a
• 43:20
  Speaker 2: singles option, but then there's also a couple's option of
• 43:24
  Speaker 2: how basically my husband and I manage money together, especially
• 43:28
  Speaker 2: if you now have a mortgage and it really turbocharges
• 43:31
  Speaker 2: the use of your offset to make sure that everything
• 43:33
  Speaker 2: goes in and then out, and it will simplify everything
• 43:36
  Speaker 2: for you so that you can kind of see your
• 43:38
  Speaker 2: partner and then yours and then what is together, and
• 43:41
  Speaker 2: it's all automated. So hopefully with that spreadsheet you've made
• 43:44
  Speaker 2: with all your bills, you can then take all of
• 43:46
  Speaker 2: those numbers, put them into my spreadsheet and then have
• 43:49
  Speaker 2: a really clean outcome. And I think that my favorite
• 43:52
  Speaker 2: part of this is you and I are already on
• 43:54
  Speaker 2: the same page about having that food, fuel, and fun account,
• 43:57
  Speaker 2: so like it's basically going to align to your values
• 43:59
  Speaker 2: or ready, So I'm excited for you to look at it. Also,
• 44:02
  Speaker 2: if you're a spreadsheet early, you're gonna think it's really esthetic.
• 44:05
  Speaker 2: You're gonna be like, excuse me, what do you mean?
• 44:07
  Speaker 2: It's all automatic. Like there's even like a debt tracker
• 44:10
  Speaker 2: in there, so you put in your mortgage, you put
• 44:13
  Speaker 2: in their interest rate, and then will tell you how
• 44:16
  Speaker 2: long it'll take for you to pay it off, and
• 44:17
  Speaker 2: then you can like play around with, well, what would
• 44:19
  Speaker 2: an additional ten dollars a week look like, and it'll
• 44:22
  Speaker 2: show you how much time it cuts off, which obviously
• 44:25
  Speaker 2: I'm really proud of. I don't know if you can
• 44:26
  Speaker 2: hear it in my voice, but like, I think it's
• 44:28
  Speaker 2: real cool.
• 44:29
  Speaker 4: Thank you so much, especially the fact that it's set
• 44:31
  Speaker 4: up to be with an offset, because that's what we
• 44:33
  Speaker 4: have too. We have the offset, so it might be
• 44:35
  Speaker 4: like perfect that I start using that and then it
• 44:38
  Speaker 4: rains me in.
• 44:39
  Speaker 2: So it's obviously going to turbocharge it if you have
• 44:42
  Speaker 2: an offset, but if you don't have an offset, it
• 44:44
  Speaker 2: operates on a cash hub system to make sure that
• 44:47
  Speaker 2: every single dollar that comes in is going to work
• 44:50
  Speaker 2: as hard for you as you do. Free it because
• 44:52
  Speaker 2: I just look at it and go, how many times
• 44:55
  Speaker 2: do we just like lose money along the way, like
• 44:57
  Speaker 2: small amounts that just all away. So it really simplifies
• 45:02
  Speaker 2: it to make sure that you're capturing as much as possible.
• 45:05
  Speaker 2: And instead of budgeting, and I mean, I'm obviously a
• 45:07
  Speaker 2: fan of this, but I think you'll like it, but
• 45:09
  Speaker 2: instead of budgeting in terms of restricting yourself, it just
• 45:12
  Speaker 2: shows you, hey, money, diarist, this is what you're spending.
• 45:15
  Speaker 2: Are you okay with it? And you're going to go
• 45:17
  Speaker 2: oh yeah, or oh, I actually want it to go
• 45:19
  Speaker 2: somewhere else, Like it's not really about crucifying yourself, which
• 45:23
  Speaker 2: I feel like in your money story you probably fall
• 45:26
  Speaker 2: into doing really easily, which we don't.
• 45:28
  Speaker 4: Want to do.
• 45:28
  Speaker 2: We want to have a positive money mindset.
• 45:30
  Speaker 4: Thank you so much for that, and also might keep
• 45:32
  Speaker 4: me in line and don't overcomplicate things like.
• 45:35
  Speaker 2: Oh, I'm excited, and I mean you deserve it. You
• 45:38
  Speaker 2: shared your whole money story with our community. That's the
• 45:40
  Speaker 2: least I can do, money diarist before we go, You
• 45:44
  Speaker 2: have just told me so much about your journey, Like
• 45:48
  Speaker 2: you are so cool. You're not even thirty yet. You
• 45:50
  Speaker 2: work in local council, you're doing town planning, You're earning
• 45:53
  Speaker 2: twenty three grand a year in rental income that you
• 45:56
  Speaker 2: set up when you're basically still a child for real,
• 46:00
  Speaker 2: Like you negotiated and I mean you did say you
• 46:03
  Speaker 2: had your mum's help, but like girl power, like she
• 46:06
  Speaker 2: made sure that you're in the right position. You got
• 46:08
  Speaker 2: this investment property, it was what four point fifty and
• 46:12
  Speaker 2: now it's five seventy five? Are you joking? Like you
• 46:15
  Speaker 2: are creating wealth for yourself, but at the start you're like, Oh,
• 46:18
  Speaker 2: I don't know, maybe I'm a Bee, and then you
• 46:20
  Speaker 2: go on to say, I've just you know, bought my
• 46:22
  Speaker 2: first house with my partner. I also have an investment property.
• 46:25
  Speaker 2: That's what I brought to the relationship. Also, when I
• 46:28
  Speaker 2: was talking to you about money goals and you were like, oh, yeah,
• 46:31
  Speaker 2: I really want to like fix the house, and I'm like, oh,
• 46:33
  Speaker 2: how much do you have to save? You're like, oh,
• 46:35
  Speaker 2: I actually already have that in savings. I was like, what, Like,
• 46:37
  Speaker 2: you already have that cash sitting to the side, and
• 46:40
  Speaker 2: you're so clear about like other debts. You're like, oh,
• 46:44
  Speaker 2: I've got the mortgages, but also the only other debt
• 46:46
  Speaker 2: I've got its hex. Yeah, there's only seven grand, and
• 46:49
  Speaker 2: I already know in my head that that seven grand
• 46:51
  Speaker 2: next financial year is going to go what like B
• 46:54
  Speaker 2: for real money, direst Do you actually think you're a bee?
• 46:57
  Speaker 2: Because I think there are going to be a lot
• 46:58
  Speaker 2: of people listening. Going is a bit du lulu.
• 47:01
  Speaker 4: Yeah, Like I did think about maybe like a B
• 47:04
  Speaker 4: plus because I know that having two homes before thirty
• 47:07
  Speaker 4: in this climate is insane.
• 47:09
  Speaker 2: It's really cool.
• 47:10
  Speaker 4: Yeah, Like you probably won't hear that from a lot
• 47:13
  Speaker 4: of people, so I definitely know, like that's insane, but
• 47:17
  Speaker 4: I always think like there's more to learn, there's more
• 47:19
  Speaker 4: to improve on, So that's where that A would be. Like,
• 47:22
  Speaker 4: there's so many things I can do, like between like
• 47:24
  Speaker 4: learning stocks or getting to a position where I can
• 47:27
  Speaker 4: put extra payments into my super or my homelan, like,
• 47:30
  Speaker 4: those things are things that I feel like would get
• 47:32
  Speaker 4: me to an A.
• 47:33
  Speaker 2: But they're all completely doable, which is kind of cool.
• 47:37
  Speaker 2: So that I feel like there's a lot more about
• 47:39
  Speaker 2: money mindset than you going oh, I have a lot
• 47:41
  Speaker 2: of work to do. It's more around going oh, I
• 47:44
  Speaker 2: actually need to sit down with a spreadsheet and work
• 47:46
  Speaker 2: out what additional mortgage payments I could have or what
• 47:48
  Speaker 2: amount of money I have for investment if that's in
• 47:51
  Speaker 2: line with my goals and value. So like that's so doable.
• 47:54
  Speaker 2: The next time I talk to you, you're gonna be
• 47:56
  Speaker 2: like the I'm basically an A, and I'll be like
• 47:58
  Speaker 2: I know I already.
• 48:00
  Speaker 4: Hopefully by the next time I talk to you, my
• 48:02
  Speaker 4: houseland's a bit lower, and then I'll definitely be like
• 48:04
  Speaker 4: an A. Pass.
• 48:05
  Speaker 2: Yeah, one hundred percent, all right, money Dove Sadly that
• 48:08
  Speaker 2: is all we have time for today. It has been
• 48:11
  Speaker 2: a pleasure. I have loved talking to you. My favorite
• 48:13
  Speaker 2: thing ever is just talking to people about their journeys
• 48:16
  Speaker 2: and going, how on earth have you done that? Like
• 48:19
  Speaker 2: at the end of the day, like ninety five grand
• 48:21
  Speaker 2: really great salary, but also i'd say, in our community
• 48:25
  Speaker 2: a relatively common one, so lots of people are going
• 48:27
  Speaker 2: to be like, hold up, how did she do this?
• 48:30
  Speaker 2: And it's actually just hard work, Like at the end
• 48:33
  Speaker 2: of the day, it's no magic. It's no like, oh
• 48:35
  Speaker 2: I got given you know, a big deposit or a
• 48:38
  Speaker 2: big inheritance, Like no, you actually just had to work
• 48:40
  Speaker 2: really hard and now it's paying off because it's been
• 48:42
  Speaker 2: what six years, and now it's paying for itself. How good?
• 48:47
  Speaker 4: I know. It's just bigger and better from here.
• 48:49
  Speaker 2: I love it. Well, Thank you so much. I've adored
• 48:51
  Speaker 2: learning more about you, and I just know that the
• 48:53
  Speaker 2: community has to so it has been a pleasure, and
• 48:56
  Speaker 2: I hope that we get to cross paths in person
• 48:58
  Speaker 2: at some point.
• 48:59
  Speaker 4: Thank you so much, and thank you for having me on.
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• 49:10
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