Latest / The Curve / How Soph Bought her SECOND Investment Property!

Transcript

How Soph Bought her SECOND Investment Property! · The Curve

• 0:00
  Okay, this is really quite a monumental moment for me personally, so for anyone that has
• 0:07
  followed the curve for a while or listened to these podcasts, particularly the property
• 0:10
  ones, a year ago, officially, today, we started the property podcast with BNZ and I cannot
• 0:20
  believe that in the space of 12 months, I went from being genuinely kind of concerned
• 0:27
  that I would never be able to buy property and now owning two investment properties and
• 0:33
  I even just saying that I was speaking at an event not that long ago and I was practising
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  at home and I started tearing up when I was doing my practice talk because I just always
• 0:46
  wanted this and when I left New Zealand, I was quite determined to have had a property
• 0:51
  by the time I left and it didn't happen because we started the curve and I hadn't been
• 0:56
  freelance for long enough and blah, blah, blah and then being over here I kind of felt like I was
• 1:01
  never, it was going to be too hard to make it happen. Both the combination of like being a broad
• 1:06
  working for myself, I've shared the story a couple of times, had like a really negative experience
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  with a mortgage broker who kind of like laughed at me and said that I was never going to be able to buy
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  property and so to be where I am today having done two properties and being able to share it
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  on the one hand perhaps feels slightly boastful or maybe a little bit like if you heard this
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  without the context maybe it sounds arrogant I don't know but I think it's important to share
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  how I did it. I'm going to end this episode with Got Pete West joining us again and he's the guy
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  that I did both properties with. There's actually been some curve community members who have worked
• 1:44
  with him which is amazing and it had such good results as well just like me but I think that it's
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  yeah it's important to be transparent because this is an investing opportunity for anyone
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  it's so much easier than you might think and this is whether or not you live overseas you may
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  already have a home you may actually be able to do an investment property. I just think that
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  yeah this this conversation and this investing approach is easy it's fun and I'm really proud
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  of what I've done so this conversation is breaking down all of the numbers how we managed to do a
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  second property and what that looked like in very granular detail so hopefully it gives a bit
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  more colour for all of the times that I have like kind of not named dropped property dropped
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  that I have a second property and not explained it in much detail but for this to kind of be the
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  12th episode for us to have done the property podcast now for a year feels very full circle to
• 2:41
  be explaining this so I hope you enjoyed episode if you had any questions about how I did this
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  or if anything doesn't make sense please let us know and if you want Pete's details we will
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  really happily share them with anyone that wants to contact him to see if this is an investing
• 2:56
  opportunity that maybe you could do too. Okay enjoy the episode. If you are lucky enough to get
• 3:03
  financial help from parents, BNZ home loan partners can talk you through all of the options and
• 3:07
  what they mean for you. One of the best kept secrets is BNZ's total money home loan which could
• 3:14
  help you pay off your home loan faster. You can get the best of both worlds by keeping the money
• 3:19
  you set aside available and use it to be mortgage free faster by offsetting your home loan and
• 3:25
  connected BNZ total money transaction accounts it's amazing. Parents can also help kids with total
• 3:30
  money too so without actually giving them money parents can link their total money transaction
• 3:35
  accounts to their kids total money home loan and help them be mortgage free faster. Whether you're
• 3:41
  buying your first home with help from family or may hit happen on your own BNZ has the tools
• 3:46
  and experience to support you from search to settlement so book an appointment with a BNZ
• 3:51
  home loan partner and get started today. Peter West welcome back do you know what you're the only
• 3:59
  guy we've had as a repeat guest on this podcast. I'll take it. This is your third podcast there's
• 4:04
  a huge compliment just so you know. True. He's like what do you want me to say thanks again.
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  Thanks. Good to see you. We're actually a little bit late. Sophie's had it here done so hopefully
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  you're watching at home because it's looking good man. I know thank you if anyone's not watching
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  on me really offended. Do you know what I did say to Pete though off-mic I was like what do you
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  think what do you think? He was like oh yeah what colors it meant to be and I was like blonde how
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  would you describe it he's like blonde with streaks and I was like that's honestly the one thing
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  that people don't want when they get their hair done blonde is like the zebra look you know it looks
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  it looks expensive guess how much this cost 300 bucks more 400 more 500 bucks 600 was that in the
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  budget for the week. Well do you know what I have planned it for a long time okay anyone that
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  goes and gets their hair coloured will know particularly if you do blonde when you get the
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  regrowth you get this like brown crown around the front of your head and that was it was baited
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  there was basically no blonde inside it's my favourite hairdresser she's amazing and um you can't really
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  say you're the first person that's seen it and you've already told me look shit if you're happy
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  you're happy right I'm gonna ask your wife I think your wife I prefer her opinion more if I'm
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  being totally honest that's fair so Pete came on there will be a lot of people that didn't listen
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  to the first two episodes so I'm not gonna go over too much old ground because these people
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  have listened to the series the whole way through so we've been doing like an episode of
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  Remount it's only been a year now we've been talking about property which is crazy because it was
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  this time last year that I got my first house very exciting very big deal never thought I really
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  would get there and then very quickly we did part two and I purposefully didn't want to go and talk
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  about this because I didn't want the entire series to be like me me me you know about my uh if
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  you don't want something on my journey um it's all about me but I will say there's there's been a
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  lot of people who I sort of slipped in that I have a second house several times without context
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  and there's been people that like excuse me what so this episode today we're gonna talk about how
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  that happened because it was certainly difficult to get number one but it was a lot easier to get
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  number two and I think this is a really good example of the property letter don't you think
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  yeah absolutely and it's been able to recycle the equity out which a lot of people when
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  you're new to property don't realise that's even a thing so um when you get to experience it first
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  hand um and get the benefit of it you know it really becomes real before we get into this let's
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  just do an overview of the first house so the first house we bought escalona always have a
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  escalona it does sound Spanish and I have a special place in my heart for the word escalona maybe my
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  I'll call a dog escalona or something it's it's looking good by the way I don't pass it
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  oh I close the seats yeah yeah oh my god pizzeria it's looking good yeah to see if I
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  did the lawns like you got some good tenants oh my god that's really good tonight because actually
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  it was a single mom with two young kids and she just separated from her partner and moved to
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  fun today to be by van Lee she actually follows me by the way does she oh no she's going to listen
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  to this why don't she listen to the kids how do you know she follows you because I made she follows
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  you're not a kid how do you know she does I made a real about should you have a bath or should you
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  have a toilet watch the tenants prefer and she commented on it saying hey tenant here at escalona
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  can confirm prefer the second toilet so she's so away oh my god that is so yeah I've had a few
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  people who like so I flipped a house and fun a day last year and the current tenant like
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  text me saying hey what color have you painted it we need to do some interior painting oh my god
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  that's so funny so we know we know the woman that's in the house well I don't you do yeah well
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  she follows me yeah and she likes the second toilet so okay good to know okay so we bought
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  an escalona street we bought it for when I say we by the way Pete helped me with this so it wasn't
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  actually like you know Pete and I going in on the property but I did deal with a friend so
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  context this this was all 50 50 with a friend of mine so we bought the house for 400,000 it was
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  up for 480 so we got a bit of a deal maybe 470 well yeah winter auction reserve they said
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  the reserve was like high 400 was it 470 or something yeah you the master negotiator haggled
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  them down to 400 I will say I do think that maybe some kind of auction situation is where I thrive
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  like being on the spot I'm good like anything that needs planning count me out but if you need
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  someone to sort this shit out in the moment you did very good thank you I needed some more
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  recognition for that so thank you Pete was literally like on zoom the whole time and then we
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  spent so we budgeted 80,000 top might yeah I think with 80,000 and we spent less than that we
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  actually yeah yeah so we spent less we spent 70,000 gave it a facelift and then do want to do I
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  mean I know this isn't a drum roll that there might be all that didn't have the first episode
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  the equity that we made in that house was so we got it revalued revalued at 595
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  so the net equity gain was like 122 off the top of my head was it yeah and then we rented out
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  for 690 a week to this lovely friend of ours and I don't know what the whole like yield situation is
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  is it important that we talk about that again can do yeah so 690 a week your all in cost was the
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  400 plus the 73 so it was end up being like a 7.5% gross yield which is which is pretty good
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  really strong but what does what does gross yield mean again gross yield means the annual rent
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  divided by the purchase price and whatever you spent on the renovation so it's sort of a crude
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  metric that you can pretty much kind of get an idea for how much money that properties
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  gonna make you in a very quick sort of decision wait so 7.5 is kind of almost like the return
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  in the same way that we talk about returns with stocks correct but it's the gross yield so it's
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  not like the net yield because that doesn't take into consideration all the associated cost like
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  the interest the rates insurance etc so it's just like a high level metric that you can sort of
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  get a gauge on comparing properties one to the other when you're when you're considering
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  different properties okay so 7.5 gross yield when you see 7.5 you see 4.2 or whatever what is it
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  you think like what's the range and so the the national average is like 4.1 to 4.5 I believe
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  and is that every year the average per house is for enough yeah like the median rent versus the median
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  house price in different areas and so different houses obviously have different yields and depending
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  on suburbs for example like more expensive areas will typically have a lower yield because it's
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  the house is more expensive but you don't necessarily get that much more rent I don't know why
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  this is not landing for me so sorry for everyone listening if this is so easy and you're annoyed by
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  this but does this have anything to do with the house being cash flow positive yes so if it was at
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  zero zero percent it would be netting out there wasn't there's no increase in value year on year
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  is that what it would mean it's sort of a gauge to tell you very quickly if the property is going to
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  be cash flow positive or negative without necessarily running all the numbers so for example like a
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  4 percent gross yield property is highly unlikely it's going to be our cash flow positive but if I
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  can see a house run the numbers and see that it's you know 7 percent or above then it's likely
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  it's going to be cash flow positive depending on what the interest rates are at the time oh so the
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  way that the reason we would look at this number or think about gross yield is essentially if you're
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  trying to buy and you want the cost to be covered so that you're not having to put more money in
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  then then you you're looking for about a 7 percent gross yield about that obviously it fluctuates
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  depending on interest rates are what interest rates are sorry because if interest rates are like
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  3 percent then obviously can be a little bit lower but sort of out of five five six percent
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  interest rate then a 7 percent gross yield should cover you okay I'm kind of I'm just going to
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  repeat it back to you just in case so obviously this depends on the interest rate but basically
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  you take the total amount you spent on a house so what you bought it for plus what you spend on
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  it for a renovation divide it by the rent you get who wins other way around get that in your rent
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  yeah divide that by what you purchase the house for plus what you spent on the renovation so your
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  total spend so divide your sorry so divide your weekly rent by the total you spent on the entire
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  thing whether it's you know the house and Renault and then your gross yield ideally you want to be
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  above the interest rate at that time is at the point yeah correct plus a little bit more okay so
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  I think it's fine to talk about this we're going to get to my property in a second but just for
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  argument all like I guess to try and lead on from this so when I messaged you the other day about
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  a friend who's looking for a house we calling a friend my boyfriend looking for a house he was
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  looking in a place there was like a certain amount and then he was trying to figure out how much
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  to spend on the renovation but he wasn't renting he was going to eventually live in it so would
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  you still consider a grossy yield as a benchmark if it's a house to live in or is this purely an
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  investment kind of yardstick you can't really calculate it if you're going to live in it because there's
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  no rent I guess you could be paying it for it so is the only purpose to figure out if you're about
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  buying an investment property you want to know if it can cover its costs it's the only reason
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  pretty much it's sort of a crude metric to compare properties like what's the gross yield on that
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  property what's the gross yield on that property and and makes it helps you make a decision and then
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  also gives you a guide on is it going to be casually positive or negative as well but you would
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  only be looking at that if you're buying investments right so if someone's buying their first home or
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  the second home but they're living in it or whatever the gross yield is not really something they
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  would be thinking about no not at all unless they have one eye on like moving out and then they're
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  like oh maybe if I can rent it once I move on or something like that then maybe you'd want to
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  consider it but if it's your favorite home or you're not going to move out then it would probably be
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  a waste of time to think about it oh thank god we got through that section sorry right so the
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  point of that was to say that this house is cash flow positive which was our goal because we
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  wanted to buy a house that we didn't have to constantly top the mortgage up for so my friend and
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  I genuinely friend living in London both of us and giving our liver away for our rent in London
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  and so didn't want to be then topping up mortgages in New Zealand so the gross yield for us was
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  really important so once we had done the reno we refinanced it and this is kind of the juicy fun
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  part so our goal was the whole I can't even say and I cringe myself out do you want to the bird
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  you're the thing for the people again so it's buying for the beam our for renovate our for rent
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  our for refinance and then our for repeat so yeah so you can do you obviously don't have to keep
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  repeating but for us we wanted to have a little property you know we're literally called the
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  moguls so you know we've got to keep up with our reputation so can we talk about because I think
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  the main thing that to be really honest was very confusing for me when it came to the second house
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  was understanding how the property ladder works and the sense that I couldn't understand the
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  concept of not needing to put a deposit down the idea that I was buying a second house and didn't
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  need more money for the actual deposit I mean I spent so long trying to figure this out I was just
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  really confused I was like wait so we don't need to put more money into this house except for the
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  renovation like that feels really weird and it was just that ginormous penny drop moment of
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  oh my god this is what they talk about the ladder because you can use the value and something
• 16:27
  against something else so let's walk through it slowly because I know this took me ages to understand
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  so how does it work with banks lending money against properties when it comes to refinancing
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  as far as edits most basic within investment property a bank in New Zealand will
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  lend up to 70% of that value so if you've got a million dollar investment property they will be
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  willing to give you a $700,000 mortgage so let's use Escalina Street as an example so the banks
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  willing to give you well it got revealed at 595 yeah banks willing to borrow or let you borrow
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  70% of that 70% of 595 is 416 but when you purchase the property originally you already had a
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  mortgage of $280,000 so the banks willing to go up to 416 so the difference between 416 and your
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  original mortgage which I think there's 280 off the top of my head is like the difference
• 17:24
  that they're willing to go so if he has some more coin go to town okay so the point here is with
• 17:29
  any mortgage they're willing to lend you 70% of anything that you buy property I mean okay I know
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  that's a blanket rule but just for this example so because we've added more value to the house
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  the money that we made so the 122,000 an equity from the renovation is technically added to the
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  value so there's a percentage there we're like we're not quite at 70% of the total value again so they
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  increase the mortgage to whatever it was 412 then the remainder we can use is like borrowing it again
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  to buy the new one bang on but I think the thing that's confusing is okay so say the bank
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  gave us 136 for the next house yes which I think was the amount 136 what about the mortgage
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  is the mortgage all of a sudden increasing even more or is it a second mortgage on the second house
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  they increase the mortgage on your existing property so we're now in we're borrowed 70% of
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  or is that kind of irrelevant they basically they can do it either way as long as there's
• 18:37
  sufficient equity across both of them so whether they load up your new property with like 100% debt
• 18:43
  and leave the old one with less debt it really depends on the bank and what they do so I don't know
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  what they did in your specific example but it's sort of they look at it as a collective across both
• 18:53
  properties do you still have the 30% equity and so therefore they can give you 70% borrow so basically
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  what ended up happening was because the bank was willing to increase our mortgage and essentially
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  released the funds that we'd kind of made an equity on the renovation the first house to then
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  put against the second the only thing that we had to fund from a cash perspective was the renovation
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  correct yeah and when I say we I mean my dad well yeah you had sufficient equity
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  increase in equity to be able to recycle that out and use that as the deposit you know there's
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  136k there so that's great that's enough for a deposit on a 450k house so we were limited at
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  that basically in terms of what we could get from a mortgage perspective and refinancing there was
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  a certain amount we had to look at within range yeah correct you had 136k to work with which is bang
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  on our target our target purchase price like 450 so it worked out well and then obviously we could
• 19:48
  have got something cheaper maybe and that would have given a bit more wiggle room but our target
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  purchase price is around that 450 so that was bang on yeah also I just would like to say I'm paying
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  my dad back for the loan for the renovation yeah we're gonna talk about that yeah yeah you had
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  enough you had enough for the deposit which was quite stressful wasn't it because that means you
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  still had to fund the renovation with your own with your own cash right and I you know some people
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  think that you can just recycle all the money out and get enough for to fund the deposit and the
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  renovation that's quite tricky like we did pretty well with you with with with 120 so to go
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  immediately again you typically need some cash on hand savings from the year or whatever that may be
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  and I was in a position where so the friend I was doing it with was fine had enough cash flow
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  I however was in dire straits and I okay that's dramatic but I definitely didn't have what we
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  had budgeted which was around 80,000 to 100,000 to spend on the renovation and it was just such a stretch
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  I remember thinking oh can I do this can I do this and I actually considered several things I
• 20:54
  considered taking Kiwi saver out I considered a whole lot and then I actually just asked my dad I'm
• 20:59
  so lucky that I could do that but I basically loaned money from him rather than the bank
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  and he gave me a really generous like five percent interest rate so when I sell the house and
• 21:11
  hopefully not for like a long time maybe five years I'll pay him back plus five percent which I was
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  so lucky for because basically the context of doing it with a friend we were like this is too good
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  of an opportunity we should go for this house blah blah and then it would have made the who owned
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  what awkward because it would have tipped like we wouldn't have been 50-50 anymore so yeah big mic
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  charging five percent is that a lot I would have thought so but fear Michael alright yeah yeah go
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  over chat with him I did pull the wall over my eyes no I think he wanted to keep it with inflation
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  right which is kind of valid right yeah it's fair like over five years no special treatment
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  around here it's good to see oh my god I'm like quite good have I been don't mind my dad
• 21:52
  uh you could have gone to a bank maybe cheaper no it's okay fair that's a bit harsh that's
• 21:56
  home loans cheaper than that but that's it'd be unsecured but he knows where you live so
• 22:01
  that's fair so I could have gone three percent is what you're saying I have a conversation with Mike
• 22:06
  I might just have a quick look at that contrast if I could adjust some of the key terms okay right
• 22:10
  so let's move on to basically I mean I've talked about this in millions of times but I do think
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  that it's worth just talking about the idea that there's obviously different ways to invest right
• 22:19
  like lots of people buying their first home second homes beach houses some people don't own any
• 22:22
  property and there's some people who are living in rented housing and then actually still rented
• 22:29
  housing that's not odd didn't it right did you pick up on that no yeah yeah I said I thought
• 22:34
  I didn't want to swallow that word yeah so and then there's people who are doing what we're doing
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  which is trying whether it's flipping or trying to get several properties as sort of a portfolio
• 22:46
  I want to definitely talk about how scary it was second time versus the first time
• 22:53
  okay I feel like the first time I was absolutely like so nervous didn't know it was going to
• 22:59
  have them was trying so hard to temper my expectations second time I was so chilled that's
• 23:05
  interesting from my perspective I didn't really notice a huge difference maybe it was only two
• 23:10
  no yeah you just fizzed up fizzed up by times oh my god then it's such good feedback sometimes I
• 23:16
  do wonder how other people interpret mine yeah now you guys seem pretty chill okay very trusting
• 23:23
  you're like yeah now seems to be going well you weren't micromanaging or I mean more at the start
• 23:28
  in terms of going again you know like we just saw how long it took me to understand the refinancing
• 23:32
  I think it felt too good to be true I was like no wait we don't have to put money into the deposit
• 23:38
  I think you were both maybe a little bit surprised that you could go again yeah yeah I would say so
• 23:43
  so quickly too because remember you we sort of did the project and then it was like cool great
• 23:47
  thanks and then you guys came back like a month ago saying hey bank said we can go again so I was
• 23:52
  like great that's right we basically went straight back to the bank didn't we yeah you went straight
• 23:55
  back to the bank and then you got back in touch and said Pete let's go again so I was like cool let's
• 24:01
  do it um so yeah I don't know how those conversations went with your investing partner but from my
• 24:07
  perspective let's call him that not my friend that's much better it seemed like you guys were
• 24:12
  organs blazing and confident to go again so the yeah the story of your second are we there
• 24:18
  yeah yeah cool so you guys came back saying hey Pete really go again um so I was like awesome let's
• 24:24
  do it so started looking for you and good timing around that time um a real estate agent who
• 24:30
  have done a few deals with um knows what sort of properties we we look for got in touch and said
• 24:35
  hey I've got enough market deal now what's enough off market deal just to quickly explain it's a
• 24:40
  it's a property which doesn't go go to market it's not advertised so you won't see it on trade
• 24:45
  me you won't see it on real estate.co.nz and so why would people do that um various different
• 24:50
  reasons but maybe there's something wrong with the property maybe they don't want lots of people
• 24:55
  to do open homes maybe it's messy and they know only only certain people are going to buy it right
• 25:00
  so they can cut themselves a lot of hassle through through doing that they don't have to pay marketing
• 25:06
  material etc and so we found one of those homes and so the process was yeah we didn't check
• 25:11
  it out for you and yeah it ticked all the boxes absolutely stink of campus so I was glad
• 25:17
  did it actually stink I don't think you told me that actually I don't know if I would have
• 25:21
  been okay with that if I'd not it shocks my mum who actually went through it was like you
• 25:26
  not buying that house are you I was like yeah it's perfect and she's like the smell I was like
• 25:31
  you got to look through that um and really I'm sorry can I say lovely boy your mum to look at it
• 25:37
  okay but it ticked all the boxes like it was tired but not completely falling apart um we could
• 25:44
  add a bedroom it was large it was in a good area so we can talk about that in terms of why we chose
• 25:50
  it but it ticked all the boxes and so yeah we went through the process of buying it off market
• 25:55
  which was great because you don't have the you know the competition of an auction or the worry
• 26:00
  about missing out got through the trades through checked it out got all the quotes for the works
• 26:06
  and then yeah we went through that process which took quite a bit of time probably about a month
• 26:09
  wasn't it three three or four weeks yeah I wasn't feeling confident because the first one was so
• 26:14
  fast like Wambam onto it and then the second one and I don't mean you were slow I just mean the
• 26:18
  process was slower yeah well we were trying to balance the vendor they were trying to buy a house
• 26:24
  right and so they they wanted to like they were trying to haggle and extend like when the when
• 26:31
  the deadline was due and things like that and we had to play a bit of hardball to get it across
• 26:34
  the line but we got there in the end so we ended up picking it up for 450,000 and how did we do
• 26:40
  that was there any like we'll do this we'll do that what was the process in terms of can I just
• 26:46
  say I was a little bit more involved and perhaps like intelligent with this whole thing it's been a
• 26:51
  while I think that's why my memory is so we went through well we run the we ran the numbers just
• 26:57
  like we did for your first property wants to make sure we're going to hit our cap yours what's
• 27:01
  it going to be worth at the end what's it going to cost us to renovate how much money do I want
• 27:05
  to make in there for what can we afford to afford to offer so we went through that I suppose we
• 27:10
  should mention the properties in Tiamuru so a different market to your original property up in
• 27:16
  Fungare so it's quite nice to diversify away for you I think not having two houses in the same
• 27:22
  market I mean if something happens so say there's that a thing because I guess in the same way we
• 27:26
  think about investing in stocks the stock market different sized companies different countries
• 27:31
  different index all that kind of thing is it the same thing when it comes to property if you've
• 27:35
  got a portfolio you may as well if you can buy in different areas because they move slightly
• 27:41
  differently yeah each each market can move at a different rate so it sort of diversifies your risk
• 27:45
  in case you know if you've got everything in Fungare and it doesn't go that great for the next 10
• 27:50
  years but sort of why power and Hamilton do then you can sort of mitigate that risk as well as
• 27:55
  mitigate like natural disaster risk you know if you've got two places in the same place and a
• 27:59
  storm comes through and damages them you're sort of mitigating that risk as well so I think it's
• 28:03
  I mean it's not necessarily critical with I shouldn't say only two houses because that's a feat
• 28:09
  but you know what I mean if you had 20 30 hours as you definitely want to do it but you wouldn't
• 28:16
  necessarily have to do it straight away but it's a bonus that we managed to achieve that for
• 28:20
  you I think but it wasn't the primary goal of why we bought that and so what if we were to think
• 28:26
  about what made you feel confident in that area and maybe we can keep this not super New Zealand
• 28:32
  specific in terms of just thinking about where you buy because there we people are listening in
• 28:37
  all different parts of the world so what was it about this rural town that most people would not
• 28:44
  have heard and thought oh I see an interesting opportunity why this one and what what what were
• 28:49
  your big green ticks first and foremost it's a decent enough size hub but it's it's relatively
• 28:57
  close to a larger hub a town of like 200,000 people which in New Zealand sense is relatively big
• 29:02
  so there's lots of employment in that sort of larger hub which employment is great because it
• 29:08
  brings people into the city and then house prices naturally there's more demand for houses so
• 29:14
  there's going to be a long-term growth prospects so that's essentially zooming out from the idea if
• 29:19
  you can't afford to buy in a main centre look at the places that are close where people would be
• 29:24
  commuting from for jobs in a busier area within reason because that the same could be said for
• 29:31
  for example in London there's a lot of people that come from outside of London because it's so
• 29:35
  expensive to live there but they commute or do you know what's another really interesting
• 29:39
  comparison when gold was doing well and then all of a sudden silver does it's like what's sort
• 29:43
  of the next step to that investment if you think logically yeah correct sort of just by almost
• 29:48
  association physically you know um so it has that benefit it's got diversified employment like
• 29:55
  yes there's a large employer and a large factory in the town but it's not the only employer
• 30:01
  do you know I mean so if that employer goes bust the town's not going to be um
• 30:04
  desolate so that's really important as well diversifies the risk uh for you so there's there's
• 30:09
  good employment and it's diversified as there's the other really key factor which made
• 30:13
  tier-meter a good option for you and then there's the actual house itself and so first and
• 30:19
  foremost yeah it had no hazards there's no slope there's no there was no flood plain or anything
• 30:23
  like that you don't have to go for that but it's it's just it's just a little bit easier
• 30:27
  insurance is going to be a bit cheaper and it's obviously inherently less risky than uh being
• 30:32
  being on a slope so that's uh that's a bonus as well other um things generically about the house
• 30:37
  it's a tidy flat section which means the tenants are going to look after it versus if you've got
• 30:43
  like a sloping section with lots of guard and the tenants aren't going to look after it you know
• 30:47
  what I mean so it's it's going to be a low maintenance property for you also it was quite a
• 30:52
  character home it's a weatherboard home that's quite cool archway thing we didn't get to keep it
• 30:57
  it's hurt like that but it's a weatherboard home which people value that in New Zealand it's a bit
• 31:03
  more maintenance for you I'm not going to have to repaint it but there's there's that visual aspect
• 31:08
  as well which makes it quite nice to look at and we'll make it easier to sell down the line we've
• 31:12
  talked about the pros of the house but to be fair there are a few cons so let's talk through those
• 31:18
  the house was more tired than escalator so it was a weatherboard house and there was a bit of rot
• 31:24
  in the weatherboards which meant and the paint was failing on the exterior so we had to paint the
• 31:29
  exterior of this one and I remember last time and actually maybe even on the podcast you said
• 31:33
  that would be ideal if you could avoid exterior painting because it's kind of a house and it's
• 31:37
  expensive yeah correct and in long term for you as well at one downside was in September weather
• 31:42
  board house there's going to be more maintenance on that for you long term so that was a consideration
• 31:46
  pro so back over to the pros it was a large house though so that was really beneficial like 120
• 31:50
  square metres in New Zealand is a really good size for a rental back over to the cons the roof
• 31:56
  was old like 60 plus years concrete tile roof and so that's getting towards the end of its life so
• 32:02
  you're going to be up for a replacement in the next sort of five years maybe you could get it
• 32:07
  longer but we we had that conversation said hey just you know this could come down the line
• 32:13
  and you're looking at maybe like 25 grand you know what I mean so we were we had that
• 32:17
  consideration yeah look it's been there for 60 years I'm sorry you brought that up though
• 32:22
  it's been there for 60 odd years it's still we painted it so it's you know it's still a good job
• 32:27
  at the moment but it is definitely before when you go to sell it someone's going to point that
• 32:31
  out do you know what I mean yeah yeah yeah you're definitely going to be up for a new roof before
• 32:34
  you before you sell it so those were some of the cons but when you when we zoomed out and looked
• 32:40
  at the overall picture we could still hit our KPIs it was still in a good area so we thought
• 32:44
  let's go for it so you picked it up we haggled down to 450 we thought the renovation was going to
• 32:50
  be 90 to a hundred which we can can we bring up here now that you mentioned I'm going to pick with
• 32:56
  you yeah yeah what is it me and I don't know if it's me it's not my fault it's my investing partner's
• 33:01
  fault so so if he happened to drop that she had a budget blowout with her innovation which
• 33:08
  I then have clients ringing me going what happened to Sophie's project
• 33:11
  because they listen to the queue and so I'm going um no we don't have a budget blowout we stuck to
• 33:17
  plan and she got a hundred and thirty need gain honestly it's so bad it's so bad I got this
• 33:22
  voice from paper like hey um so like there's a few clients concerned about budget blows I was like
• 33:29
  what do you mean he's like I don't I honestly I must have blacked out that I've a spoke well
• 33:34
  on the podcast but also I totally just trusted my pulling investing partner because he was like oh
• 33:39
  you know with the Renault blowouts and I'm like I don't know I didn't know there's a I mean I this
• 33:43
  is kind of what I was getting at with the whole like paying less attention and probably less scared
• 33:48
  and more confident in part two is part one went so well so I was just very hands off I kind of
• 33:53
  didn't even remember what you'd estimated would be spending well yeah and probably listen for me too
• 33:58
  so it was obviously our second house so when we were going through the process we were way more
• 34:01
  like so I was like right the Renault the Renault is going to be between 90 and a hundred
• 34:05
  grams it's so funny that people and so and normally I'd email the the clients saying hey you
• 34:11
  know here's a agreed budget but it was our second house so I just didn't bother I thought we
• 34:15
  don't sort of agree that no many minutes were taken anyway um we ended up we'll speak about
• 34:20
  so we ended up coming out at a hundred gram which was the top of the 90 to 100 but yeah so
• 34:26
  um the investing partner told so if you that I was made a blowout I mean he's probably gonna listen
• 34:30
  to us and be like now you're throwing me under the bus and I didn't do anything look let's just get
• 34:34
  the record here very clear I'm not great with details I'm very good with big picture you know
• 34:40
  fruity blue sky thinking but anything that is in the granular detail I completely zone out at so
• 34:45
  anyway yeah had an accidental slip that um Pete's terrible at his job and blew out the budget
• 34:50
  which he did not um also I think what's probably worth mentioning though with this is the reason
• 34:56
  it was a big deal for me is because I was already a loading money I thought that I'm and I
• 35:03
  probably had misjudged the amount that I was gonna need so I had to go back for around
• 35:08
  two to my darling father and say oh my god I'm sorry I've like marked these numbers up I'm
• 35:14
  actually need more so I mean that's my own problem but if you're I think it's just worth saying
• 35:19
  when it comes to property you often it's really easy to get excited and go to the like high end
• 35:24
  of what you're spending whether it's what you're buying the actual house for or what you're renovating
• 35:28
  and having a buffer is so important even you remind me of the roof I completely forgot that we
• 35:34
  could be spending 25 grand on a roof in the next three years you know like it's no but my point
• 35:39
  is is that you you do have to be you don't want to put yourself or other people in a position where
• 35:44
  it's a measure if we've got halfway through the rena and I was like kind of for the um happens
• 35:49
  that's how people end up in mortgage sales and all sorts so don't do that right now that we've
• 35:54
  got that we've cleared the air clients don't worry so yeah plan attack was 90 to 100 grand for
• 36:02
  the renovation what were we doing for that unfortunately we had to paint the exterior but all the
• 36:06
  same things is the is the last property right new kitchen new bathroom we managed to get a fourth
• 36:12
  bedroom into this place there was a separate lounge which we you know we couldn't get much
• 36:16
  easy in that we we closed it off in made of fourth bed so the more significant cost was yeah
• 36:21
  the extra painting exterior um and replacing those rotten weatherboards yeah those were the majors
• 36:28
  those were the majors as well as trying to get rid of the cat piss smell yeah yeah how did you do that
• 36:33
  well I actually had a bit of a worry um was it did you think it was in the floorboards yeah like
• 36:39
  it was that bad so we got rid of the carpets um and then you know you'd expect oh yeah it's
• 36:44
  like they should be gone and then the house still stagnant I was like oh no you did not tell us
• 36:49
  yeah well that's I took the stress on for yeah and that's how I was searching how to get
• 36:54
  cat piss out of uh floorboards because in the floorboards but thankfully we we just open the house
• 37:01
  up for like three weeks let it dry out and it was the smell was all gone but like can we just pause
• 37:06
  for a second what was happening in that house was the cat I know some pets that were just
• 37:09
  went out outside yeah they went a lot outside yeah it's pretty sad oh oh so so they were going
• 37:14
  in a litter perhaps and then there were cats and then when I went to go check it out so who knows
• 37:20
  you see I'm not worried about the cats escaping and I think yeah yeah yeah yeah yeah yeah you see
• 37:25
  all sorts of things when you go three houses yeah oh well okay okay right so then when we finished
• 37:31
  which to how long did it take us so it took six weeks so a little bit longer I think
• 37:36
  how we must get through school in like five weeks a little bit longer obviously exterior painting
• 37:40
  there was more to do with this one so our standard six weeks so yeah the renovation it went to plan
• 37:47
  in terms of like six six weeks which was which was great obviously sort of mentioned there's maybe
• 37:52
  like a few more kerfballs a little bit more work with the rot than we sort of anticipated but that's
• 37:56
  where you have the contingency so it pretty much went to plan and then once again we got it
• 38:01
  revalued and so that came in at six eighty six eighty less what we spent on the Rena 100K
• 38:10
  minus what you purchased a 4 450 so there's a net gain of 130 so actually starting work better
• 38:16
  better than escalator really honestly didn't expect that given all the things that kind of not
• 38:21
  went wrong but it was a much more complicated yeah probably I mentioned from your side stressful Renae
• 38:27
  so the fact that it ended up the equity gained was it was so great yeah yeah yeah really good result
• 38:35
  and then rented relatively quickly yeah three was a three weeks yeah not long three weeks for that
• 38:41
  and then you're achieving six fifty did you get six fifty for it yeah yeah yeah yeah so that's like
• 38:48
  a six just over six percent gross you know that's like a good example actually because this is less
• 38:53
  from a yield perspective than the first house correct but our net gain the equity we made was more
• 38:59
  yeah correct so why oh we're back here no we're not doing it no we don't but we don't get it because
• 39:09
  this one's more this one was more successful and inverted comments successful in an equity gain
• 39:14
  perspective but it's not we need if you just looked it on a pure yield perspective you'd say it's
• 39:19
  a worse investment but it's in T.R. mode it which you might say okay well that's a more
• 39:25
  superior location than when you're your other houses so you're willing to accept that if you
• 39:29
  know what I mean I reckon that this is going to be similar to when we started talking about
• 39:33
  stocks in the stock market yeah sure we give it a stock example like if you've got a stock that's
• 39:37
  consistently performing is that the net it's some I'm testing my own knowledge is that going to
• 39:43
  be worth less to the market or more to the market release to the market because it's just really
• 39:47
  easy to produce right yeah consistent gains yeah correct so you're willing to accept it's like
• 39:54
  bonds from the government right like it's real stable they're going to pay you back so you're
• 39:57
  willing to accept a lower yield on those right or a lower cash return on those versus taking
• 40:03
  something like a high risk you're going to expect a higher yield a higher dividend in that stock
• 40:09
  sort of like houses does that make sense yeah T.A. is more trusty
• 40:14
  oh oh oh oh interesting I saw what I've said it was the other around that so interesting
• 40:20
  so right so so the second house outperformed escalona by about eight thousand on a pure
• 40:26
  equity net gain equity perspective yes but it's a lower gross yield property for you so it's
• 40:31
  technically our first house more successful it means a judge it really it means what's
• 40:36
  more important to you well what are the two options do you place more value on the equity gain or
• 40:40
  place more value on the yield I think the equity gain yeah okay then to you the your second
• 40:46
  property would be more more of a success I think I would think that but because the second one
• 40:51
  was still cash flow positive yeah still cash flow positive of like that's all I care about I just
• 40:56
  want it to be cash flow positive I don't care really if it's shooting the lights out with heaps
• 41:01
  of leftover money week to week because that's not we're not going to be making much money in these
• 41:04
  houses what like cumulative more exciting and maybe this is just how my brain works for me the net
• 41:11
  product like gain yeah so you made eight thousand dollars more on that your property is still
• 41:17
  cash flow positive yeah so you're not having to top it up which is which is great all in all
• 41:22
  successful a second successful purchase for you very successful bring on number three I think so
• 41:28
  so this is what I wanted to talk about was I can't renovate a third property right now because I
• 41:33
  don't have the cash but if we were to go for a third to buy how would we think about that well
• 41:40
  you've got sufficient usable where could he once again in your in your second property and that
• 41:44
  would be the hundred and thirty yeah correct like you can borrow seven oops yeah yeah thirty
• 41:50
  well you're gonna make it I'm gonna go make it to the numbers yes let's give it simple you've got
• 41:54
  their hundred thirty thousand dollars which is a sufficient deposit for a 450k purchase right so
• 42:00
  the point here is if I wanted to go higher like I wanted to get a more valuable house say six hundred
• 42:07
  thousand wouldn't be enough it wouldn't be enough I would need to put more money yeah correct yeah so but
• 42:12
  we could go purchase your third property worth 450k tomorrow if you want it subject to bank approval
• 42:17
  now obviously it sounds like you don't have the cash to fund those renovations so option A is you
• 42:24
  could buy the house and not renovate it straight away but could you rent it out still because it
• 42:29
  depends on the quality provided provided it's an a rentable condition do you know what I mean but you
• 42:33
  could buy something that's livable and then hold on to it or you could take a personal loan you've
• 42:38
  probably tapped out Mike by the sounds so now I've found out he's absolutely me over with my interest
• 42:46
  right so go around go around the family play play with off each other and then the other
• 42:51
  alternate is well typically house prices obviously you know rise five five or six percent and so
• 42:58
  you can get them with those increased gains you could then recycle that out but that's going
• 43:02
  to take a bit of time and at the moment in New Zealand you're probably not going to see that this
• 43:06
  year so do you think then so if I was to buy a third we would need to buy something around the 450
• 43:13
  mark and I guess the prerequisites would be you would want it to be in an okay condition that it's
• 43:19
  not going to need heaps of work or upkeep because I guess because we just renovated the other two
• 43:23
  they're in much better condition so there's not going to be a huge amount of my toilets broken
• 43:27
  situation is that the risk that you may have to spend cash on the house falling apart but
• 43:33
  yeah correct you'd have to make sure it's healthy homes compliant right and like you know like
• 43:37
  insulation heating etc so you'd have to at least meet that as a as a bare minimum so you'd probably
• 43:42
  want to check that out during due diligence but it could be a worthwhile option it means you
• 43:47
  could get something now and then hopefully get some capital gains this year rather than sort of
• 43:52
  waiting until you've got enough cash saved up from savings to fund the next renovations
• 43:57
  because it's probably a quite a good time to buy right we're still sort of at the bottom of the
• 44:01
  property icon yeah it's a great great time to buy in general like I personally think we're still
• 44:05
  bubbling along the bottom of the market we're not seeing prices rise consistently yet so great
• 44:12
  time interest rates are low like you know you can still get one year interest rate below 5%
• 44:17
  at the moment there's lots of housing stock around still so lots of available options and also
• 44:24
  pretty unique time crying aura sort of just trying to think what the equivalent in the UK is called
• 44:30
  for our UK listeners state houses there's the state is selling off lots of houses at the moment
• 44:35
  and so those are prime for the types of houses that we look to renovate so pretty unique time to
• 44:41
  be buying at the moment and also there's no FOMO like as soon as FOMO kicks in it's a pain in the
• 44:48
  ass right because everyone just starts paying silly money vendors get really cocky they think
• 44:54
  nah you know that's too low and I'll wait for the next one we're at the moment the doors aren't
• 45:00
  getting kicked down do you know what I mean so it's a really good time to be negotiating at the moment
• 45:05
  like if we find something wrong with the property you can negotiate really hard for example
• 45:09
  um client this week we got like 40 grand off for something do you know I mean
• 45:14
  can we talk about that because that was someone from the curve community just got a house today
• 45:18
  yeah yeah shout out did you drink day I'm so happy for you then so far yeah yeah so pretty stoked
• 45:26
  for them it's been a journey this is the third property that we've had a crack at for them the
• 45:30
  first two we got on a contract both of them felt we found things during due diligence tried to
• 45:36
  get enough off and then the vendors just you know we couldn't quite get across the line banks
• 45:41
  funding also unconsented it was unconsented works getting funding from banks can be quite tricky in
• 45:45
  that scenario so a couple fell over but got this one over the line for them something pretty stoked
• 45:51
  and yeah it's been a journey because once again found unconsented works so we had to work through
• 45:55
  that and and what that all means and the remedies and getting the banks and insurance across the
• 45:59
  line so pretty stoked for them so shout out Dave and you drink all that's so exciting for them
• 46:03
  and they did they hear about working with you through the podcast yeah correct yeah that's just
• 46:07
  the best ever yeah had a few people reach out which is pretty cool do you have space for more people
• 46:12
  yeah yeah so maybe actually we did something last time and I can't remember if we've
• 46:16
  still got it up but there was like a link for people to give more details right yeah or is it on
• 46:21
  our website it's on your website so I can link in the podcast show notes everyone thank you
• 46:25
  that so yeah have you actually finished working with someone from the curve like it sounds like
• 46:30
  there's a few milling round in the client pool but have any of them actually finished yeah no
• 46:35
  Louise and Ben you don't mind me saying your name so they're the first ones which came through
• 46:40
  because when did I go on the pod like June yeah around then June and so a few people came on board
• 46:46
  after that oh cool and so we they were the first clients and we finished up the project and
• 46:51
  I just say go Louise and Ben yeah because it's so brave to do something a bit different you know like
• 46:57
  when you see all your friends and people around you and all you've ever heard is invest in
• 47:01
  property by buying a home and living in it it does take courage to do it differently so that's
• 47:05
  really cool yeah they're awesome and I caught up with them recently and they're like you know people
• 47:10
  were telling us don't do it and doubting and they um they yeah yeah like all their friends were like
• 47:15
  what are you doing I had the same thing actually you're paying some guy to buy your house and
• 47:19
  renovate it and she's like yeah and go Louise it's so good on it so they're awesome um really
• 47:25
  cool people awesome to deal with so we we got them a house and and fungal a also
• 47:30
  renovated kind of suburb over suburb over um so got them a house renovated it
• 47:37
  yeah we went to plan six week reno um we finished it just before Christmas unfortunately couldn't
• 47:43
  rent it straight away oh yeah yeah great time to be people don't want to move the week before
• 47:47
  Christmas to that but we knew that going in and I told them like hey like maybe we might be
• 47:52
  able to rent it but maybe we won't be able to rent it but it's still worth it you know it's
• 47:56
  that there for four weeks um over that period and we rented out in January and so they're happy got
• 48:02
  it so amazing hit the KPIs for them once again like a seven percent gross yield for them and over
• 48:08
  100k net gain so they're happy they're gonna go on holiday South Africa and then they're coming
• 48:12
  back we're doing property too so they're pretty cool stop okay can can you please put me in touch
• 48:18
  Louise and Ben because I want to get a testimonial I would I oh stop so we all hang out
• 48:23
  it's just let's get everyone that buys property too big we'll just start our own
• 48:28
  little club so yeah that was that was that's amazing then the other people were still yeah well
• 48:36
  as I did your day just got a got a house for them today and then there's a few more that
• 48:40
  we're just working on as you say can take a while to find the right property so we're getting
• 48:44
  we're getting there yeah are that so cool now people before we wrap this up there's some questions
• 48:48
  that have come through from uh socials let's just go through a couple of these so the first one
• 48:54
  is our both properties cash flow positive yes we've gone through that how did you take the next
• 48:59
  step will you nervous it wouldn't rent I do think the nervous it wouldn't rent is kind of an
• 49:02
  interesting one a lot of people yeah it's it's often people's biggest biggest concern to be fair
• 49:08
  which kind of surprises me I would have thought oh maybe it's my brain the people think about like
• 49:13
  overpaying for the house and no people don't know about that overpaying for the house and like
• 49:18
  spending too much on the renovation no big I think that is such an obvious sorry that's really
• 49:23
  road I think that's a really good example of how so many of us don't understand how property
• 49:27
  buying works because I didn't know the idea of buying well was so important I also didn't think
• 49:32
  I just assumed you spend money on the renovation it goes up in value but there's so many things
• 49:37
  you can spend money on that don't add any value yeah correct so what was the question again
• 49:42
  because it was a hard time yeah we knew this about renting out and you were just saying a lot of
• 49:45
  people get nervous about it yeah it's it's pretty common a lot of people ask about that so my
• 49:51
  my response to that is is how do you mitigate it is a risk for sure how do you mitigate that risk
• 49:55
  well firstly when you're looking at your numbers assume a realistic rent don't go in there thinking
• 50:01
  you're going to charge 700 bucks when actually a realistic rent is 600 dollars right like if you're
• 50:06
  asking market rate or a competitive price then you're going to be able to fill it because people need
• 50:11
  ultimately somewhere to live as well as that you've got to remember that you've just freshly
• 50:16
  renovated this house right so on the market compared to other houses your house is going to be
• 50:21
  right at the top of what people want compared to a house which has been sitting there for 20 years
• 50:25
  and hasn't been renovated right so there's there's that aspect as well so as long as you price it
• 50:30
  right and it's done to a good spec which we do because we fully renovate the house then it shouldn't
• 50:35
  be an issue now caveat to that is obviously the rental market at the moment is a little bit softer
• 50:41
  but that's sort of a nationwide trend but the worst I mean yours took two or three weeks right so
• 50:45
  yeah it was so easy that was yeah that was so not what I was worried about who manages the properties
• 50:51
  for you and what are the costs involved so Pete actually put us in touch I think with both of our
• 50:56
  property managers yeah correct yeah standard if I can use that term is like 8% plus 8% of the rent plus
• 51:02
  just it's about we pay about four six a year for one does it sound about right yeah now you
• 51:08
  tested my mask but yeah you should be paying about 8% for that so yeah obviously you guys are
• 51:13
  remote so it's a it's a good idea to have a property manager you can't go and inspect the properties
• 51:18
  you can't do the various maintenance so definitely recommend using a property manager if you
• 51:22
  want if you're a dream yeah and they're good at what they do right and and there's a fair bit of
• 51:27
  legislation involved like tenants have a fair few rights in New Zealand so if you don't do the
• 51:33
  do the right things then you can find yourself in trouble and not being able to claim various
• 51:38
  things if it ends up in tenancy tribunal and things like that so using a professional in my opinion
• 51:43
  is definitely worth it yeah yeah I mean I'm so glad we have I do feel a bit sorry if I was though
• 51:46
  because they email us and we completely ignore them hi we've got a broken tab I'm like yeah yeah
• 51:52
  don't care about that you know like I find it really I'm not great at admin shocking for most
• 51:58
  but I yeah I really struggle with the whole comps I'm just I trust you we're paying you you make
• 52:04
  the decision but I do think when you're having to be quite careful on being cash flow positive
• 52:08
  because we're cash flow positive with buffer if they need to trim that bloody hedge that heaps
• 52:14
  growing like it's the world's fastest growing he's sorry I feel like every two weeks they're like
• 52:18
  the hedges growing again we need to talk about that off like because that's ridiculous someone's
• 52:23
  fed it like malt strategy or something because it's wrong with like a slightly overgrown hedges
• 52:27
  not impacting them no anyway thank you so much thank you so much again for such a fun I mean
• 52:36
  what I has involved the second time obviously not from this episode but I loved it and I'm so
• 52:41
  proud of it and I would just like to say for anyone who is listening to this and thinking I really
• 52:45
  would love to know if I would be eligible for investing in property you don't have to have a
• 52:50
  portfolio yet if you're starting with your first one you do need a decent amount of money for the
• 52:56
  deposit and the Renault but it's not honestly as much as you think so I think just like investigate
• 53:00
  and Pete can help you out to see if you're ready or you know how far away you might be and also if
• 53:05
  you own a home but you want to invest in more property you can actually use that green your house
• 53:09
  you're living in so there's lots of ways to do this you don't have to do it the way that I have
• 53:14
  Pete's obviously the expert not me so yeah people people have owned a house for you know
• 53:18
  five plus years will often have enough equity and they don't realise it I have so many of those
• 53:22
  conversations with people oh shit I can do something already do you know what I mean so yeah if you
• 53:27
  are considering about it go speak to a mortgage broker is my advice and they will tell you they
• 53:31
  don't charge you first and foremost and they will tell you what you can and can't do so you might
• 53:35
  often be a lot closer to being able to get an investment property then you think so it's
• 53:40
  definitely worth just having the conversation no thank you so much Pete always love talking about
• 53:44
  property with you and thank you again for my house I'm very happy houses houses houses on to the
• 53:50
  third my goals thank you pleasure did you love the superstars yes have you got property front and
• 53:59
  center in your life yes sounds like you're a five year I know now could be the time to take the
• 54:05
  first step towards what it is that you're wanting to buy whether that's your first home whether
• 54:10
  that's a new flat whether it's I don't know buying another investment property and thankfully
• 54:16
  bnz has the expertise and tools to help you get started and their home loan partners are ready
• 54:22
  whenever you are you can book an appointment you can ask millions of questions trust me that is
• 54:27
  totally fine and you can start turning the property dream that you have into a plan and hopefully
• 54:33
  soon into a reality I know from experience that this can feel quite overwhelming but when you're
• 54:38
  working with experts who can actually help you get there it's such a burden of your shoulders know
• 54:44
  that you've got the advice and the tools that you need to actually make it happen we know how hard it
• 54:49
  can feel and like overwhelming and just you know so like a fish out of water when it comes to
• 54:55
  buying property so we're so thankful to bnz to be helping us create and empower this podcast so
• 55:03
  that people can learn and you know we just want you all to succeed we want you all to succeed we're
• 55:09
  all in your corner and this is going to be such a game changing property podcast series yes and for
• 55:15
  anyone that has gone through the process of either buying a house or a flat or whatever it is that
• 55:19
  you're trying to do please leave us know because we would love to be sharing you on from the
• 55:23
  sidelines but thank you so much again to bnz for empowering this podcast
• 55:27
  okay quickly the curve was created to empower and educate you about investing but we are not
• 55:34
  financial advisors our platform exists for educational purposes only and it doesn't provide
• 55:39
  personalized investing advice for your individual needs and should not be relied upon to make
• 55:43
  an investment or financial decision and always remember to do your own research before making
• 55:48
  any investment or financial decision we're here for any knowledge and support you need but the
• 55:52
  final call is always yours and thanks for being here you got this yeah we know you got this