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Going All In On Property Investing · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
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Speaker 1: the Order, Kernie Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money. Hello, and
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Speaker 3: welcome to She's on the Money Podcast Millennials who want
1:01
Speaker 3: financial freedom. Welcome back to another one of our money
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Speaker 3: diaries where we get to talk with one of our
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Speaker 3: incredible She's on the Money community members all about their journey. Now,
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Speaker 3: let's dive straight in, because this week we got a
1:14
Speaker 3: letter and it sounded like this, Dear, She's on the Money.
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Speaker 3: I was told I'd never qualify for an investment property loan,
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Speaker 3: but I proved them wrong and bought two in just
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Speaker 3: seven months. Growing up, I was taught early that money
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Speaker 3: is hard to earn and quick to lose. By the
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Speaker 3: age of thirteen, I was teaching drum lessons for ten
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Speaker 3: dollars a session, which taught me the power of saving. Now,
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Speaker 3: at twenty four, I'm self employed with two positively geared properties,
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Speaker 3: and I'm just getting started my goal to build a
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Speaker 3: ten property portfolio and secure a financial future on my
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Speaker 3: own terms. With a mix of savvy hard work and
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Speaker 3: inspiration from the She's on the money community, I'm showing
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Speaker 3: the big dreams really can come true. Money Diarist from
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Speaker 3: ten bucks for a drum lesson to having two properties
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Speaker 3: and the plan is ten that's a bit of a
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Speaker 3: financial glow up.
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Speaker 2: Yeah, well I'm on the way. But yeah, it's a
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Speaker 2: bit crazy to think of it like that.
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Speaker 3: I love this so much. I am so excited. Let's
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Speaker 3: dive straight in. But before we get there, money rist,
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Speaker 3: what grade would you give your money habits If I
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Speaker 3: asked you to give them a grade from eight through
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Speaker 3: to F, I.
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Speaker 2: Would probably give myself a solid b ooh, a solid bee.
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Speaker 3: All right, let's dive into it. I want to know
2:31
Speaker 3: tell me a bit more about your money story.
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Speaker 2: Yep. So, when I grew up, my parents had two
2:37
Speaker 2: government jobs and we had everything that we needed. I
2:41
Speaker 2: was very fortunate to live in the home that I
2:43
Speaker 2: lived in and have the family who are super supportive.
2:46
Speaker 2: We all grew up. All my siblings were doing music,
2:49
Speaker 2: so my parents paid for us to do our music tuitions,
2:52
Speaker 2: but we also did a lot of extension bands. When
2:55
Speaker 2: I went to high school, my primary school band can
3:00
Speaker 2: asked me to tutor a student. He actually said it
3:04
Speaker 2: was going to be twenty bucks an hour, and I thought.
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Speaker 3: Yes, that's a good deal.
3:08
Speaker 2: I know, I thought I was going to be getting
3:09
Speaker 2: more than what people at macas get.
3:11
Speaker 3: Yeah, one hundred percent.
3:12
Speaker 2: But then I realized it was only thirty minutes a week.
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Speaker 3: Oh but still.
3:17
Speaker 2: You know what you get what you get, yeah, yeah,
3:19
Speaker 2: but still it was fantastic because I just would hop
3:21
Speaker 2: off the bus on my way home from school, do
3:23
Speaker 2: my lesson, and then head home, so it was super easy.
3:27
Speaker 2: When I was in year eight, my brother and I
3:29
Speaker 2: were in an extension band for the region and we
3:34
Speaker 2: went to our band rehearsal and the idea was kind
3:37
Speaker 2: of prop to us that there would be an international
3:39
Speaker 2: tour to both Hong Kong and China.
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Speaker 3: You're going to have to tell me, I'm sorry, what
3:44
Speaker 3: is an extension band.
3:45
Speaker 2: It's like outside of school. So if you were advanced
3:48
Speaker 2: at your instrument, you would then audition for an additional
3:53
Speaker 2: program to do outside of school.
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Speaker 3: Ooh, you're an advanced musician.
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Speaker 2: Yes, some might say. Yeah. So we came home and
4:01
Speaker 2: we told my parents that there was this option for
4:04
Speaker 2: us to go overseas on this tour, and my dad said, yes,
4:08
Speaker 2: that sounds awesome. You can do it, but you have
4:10
Speaker 2: to pay for it yourself.
4:12
Speaker 3: Oh my gosh. And you were like, oh, this is
4:14
Speaker 3: not how I saw this conversation going.
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Speaker 2: Yeah, and I'm thinking I'm earning ten dollars a week
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Speaker 2: doing one lesson a week. How am I going to
4:21
Speaker 2: afford a trip to China? So my mum had this
4:24
Speaker 2: idea of us getting those Cabri chocolate boxes and selling
4:29
Speaker 2: them at soccer games and netball matches. Smart and that's
4:32
Speaker 2: the route that we went down. Yeah, So we ended
4:35
Speaker 2: up going every weekend, going to netball courts, soccer games,
4:40
Speaker 2: taking them to school, taking them to band and honestly,
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Speaker 2: the amount of chocolates we sold it was ridiculous.
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Speaker 3: But everyone loves a giant Fredo, Like I mean, the
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Speaker 3: second you offer me a giant caramelo koala babe, like
4:54
Speaker 3: say less.
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Speaker 2: And you know what, the caramelo koalas were the ones
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Speaker 2: that would sell the most. We had a lady who
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Speaker 2: would buy them by the box.
5:00
Speaker 3: Yeah, because she's a genius.
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Speaker 2: And so we would go and sell them at school
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Speaker 2: and we would sell like toblerons as well, so toblerones
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Speaker 2: and like two spars and all the different kind of
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Speaker 2: cabri chocolate. And my mum she's like, you should sell
5:15
Speaker 2: the toblerns for two dollars because they're a boogie chocolate.
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Speaker 3: Yeah, smart woman, she's a business lady.
5:21
Speaker 2: Yeah, we'll get a bit more profit. So we started
5:23
Speaker 2: selling them at school. But we noticed that there was
5:25
Speaker 2: another kid selling chocolate at school, but his toblerones were
5:28
Speaker 2: only a dollar.
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Speaker 3: Oh, you've got to market competition.
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Speaker 2: Yeah. So what my brother did, and this is I
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Speaker 2: think where the light bulb moment went off for me
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Speaker 2: on how to be savvy with money, he went and
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Speaker 2: bought all of the toblerones off, chucked them in our boxes,
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Speaker 2: and we went off and sold them for two dollars each.
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Speaker 3: Honestly, you are business moguls. You were born for business
5:51
Speaker 3: that's actually iconic. He won, you.
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Speaker 2: Won exactly exactly, and it just was like a light
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Speaker 2: bulb moment of you know, you can still get your
5:59
Speaker 2: cake and eat it too, you can. You know, everyone
6:02
Speaker 2: can win.
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Speaker 3: I adore that. I think it's so funny. In my
6:05
Speaker 3: mortgage breaking business, I don't think that's going to work
6:07
Speaker 3: for me, but in a product based business could potentially
6:10
Speaker 3: be a great strategy.
6:11
Speaker 2: Yeah. So then we ended up going on that tour.
6:14
Speaker 2: We raised eight grand total.
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Speaker 3: What eight thousand dollars from Cadbury Chocolates.
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Speaker 2: Yeah, I know, it's a lot, it's a lot. My
6:22
Speaker 2: mum was saying, we're selling so much chocolates that soon
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Speaker 2: we're going to become chocolates. We just were a chocolate family. Yeah.
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Speaker 3: I love that. I love that side hustle queen.
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Speaker 2: Yeah. So we went on the tour and it was fantastic.
6:34
Speaker 2: And then two years later we were offered the opportunity
6:36
Speaker 2: to go on another international tour and this one was
6:39
Speaker 2: to Europe. So guess how we got us there?
6:42
Speaker 3: Hey, Cabri, you heard of us before?
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Speaker 2: Yep? We caught up Cabri and we sold another eight
6:47
Speaker 2: grand worth of chocolate.
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Speaker 3: Oh my God, I love that, and I love that
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Speaker 3: it was like you guys were so involved in the
6:55
Speaker 3: fundraising for that, so like it totally benefited you. But
6:58
Speaker 3: you learned a lot about financial literacy, about negotiating, about
7:03
Speaker 3: like putting in the work. I'm obsessed with that. Bring
7:05
Speaker 3: back the Cabri chocolate sales. Although do you reckon that
7:09
Speaker 3: they're like five dollars of chocolate nowadays, because I feel
7:13
Speaker 3: like it used to be like a dollar for a
7:15
Speaker 3: giant Caramela Koala.
7:17
Speaker 2: Yeah, they're pretty expensive now. I don't know what the
7:20
Speaker 2: profit was like, but when we did it, it was
7:22
Speaker 2: I think we're making about twenty dollars a box. So
7:25
Speaker 2: you purchase the box for thirty dollars and then you
7:29
Speaker 2: sell the whole box for fifty, So we'd make a
7:31
Speaker 2: twenty dollar probit, which is a lot of boxes to
7:33
Speaker 2: sell one hundred percent us going. Yeah. And then the
7:37
Speaker 2: following year, my brother was in year twelve and he
7:39
Speaker 2: was in a different band to me, but they were
7:41
Speaker 2: going to America. So, being the good sister I am,
7:45
Speaker 2: I pulled up my sleeves and I started selling chocolates
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Speaker 2: with him. I'm another four grand for him to go
7:52
Speaker 2: and then The following year, it was my turn and
7:55
Speaker 2: my band was going to America, so we sold another
7:57
Speaker 2: four grand worth of chocolate. So to all throughout my
8:01
Speaker 2: high school life, I sold twenty four thousand dollars worth
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Speaker 2: of chocolate.
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Speaker 3: Oh my god, Cadbrey, you're welcome, because if you're spending
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Speaker 3: thirty dollars to buy that box, we all know it
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Speaker 3: costs them two dollars to make. You've basically kept Cabri
8:16
Speaker 3: in business.
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Speaker 2: It's absolutely crazy. I can't believe that we sold that much.
8:20
Speaker 2: But when I go past the network courts, I thank
8:22
Speaker 2: goodness I don't play netball. I go past and I
8:24
Speaker 2: get a little bit of like, oh, I don't want
8:26
Speaker 2: to be here anymore. I've spent too much time here.
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Speaker 3: Yeah, no, that's fair, that's fair. I feel like you'd
8:30
Speaker 3: be a bit triggered. But for twenty four thousand dollars,
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Speaker 3: I'll take that feeling any day. That's absolutely fine with me.
8:36
Speaker 2: And I think growing up and having my dad be
8:38
Speaker 2: so adamant, like you can do it, but you have
8:41
Speaker 2: to put in the effort yourself has put a really
8:43
Speaker 2: strong worth ethic, especially in all of us kids, because
8:47
Speaker 2: we love what we do and we put a lot
8:48
Speaker 2: of effort into our jobs, and it really shows like
8:51
Speaker 2: we're happy to put in that time because we know
8:53
Speaker 2: what the outcome will be.
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Speaker 3: I love that. I feel like it's teaching work ethic
8:56
Speaker 3: really young. Yeah, and it was for a bigger cause
8:59
Speaker 3: it wasn't just you getting a whole heap of cash
9:02
Speaker 3: and then seeing what to do with it. Like you
9:03
Speaker 3: had a purpose, you had an outcome. You got to
9:06
Speaker 3: see that be achieved. I think that's just it's really cool,
9:10
Speaker 3: and we.
9:10
Speaker 2: Valued it so much more because we spent all of
9:13
Speaker 2: those hours going and putting in the hard work so
9:16
Speaker 2: that we could go on these trips one hundred percent.
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Speaker 3: And they are not cheap, Like, those trips are expensive.
9:22
Speaker 3: And imagine if your parents had to cough up twenty
9:26
Speaker 3: four thousand dollars for you to, you know, pursue your
9:29
Speaker 3: band dreams. It just is not feasible for the average family,
9:32
Speaker 3: Like that's just not an option. But you still got
9:34
Speaker 3: these opportunities because you guys got involved.
9:37
Speaker 2: Yeah, exactly exactly. But yeah, I went on and I
9:41
Speaker 2: ended up doing a design degree. I didn't go down
9:43
Speaker 2: the music route. I wanted to kind of stray away
9:45
Speaker 2: from my brother we already played the same instrument, and
9:48
Speaker 2: he was already going down the music route. So I
9:50
Speaker 2: changed my direction and I ended up doing a Bachelor
9:53
Speaker 2: of Design, and throughout my work I was still tutoring.
9:56
Speaker 2: I had about twenty students drum students at the stage,
9:59
Speaker 2: and I was charging a bit more. I wasn't at
10:01
Speaker 2: the ten dollars per half an hour anymore.
10:02
Speaker 3: Yeah, very nice for a NUS.
10:04
Speaker 2: And my grandparents ended up getting quite unwell. My grandmother
10:08
Speaker 2: had dementia and my granddad had Alzheimer's and they were
10:12
Speaker 2: at the stage where they started to need someone to
10:14
Speaker 2: care for them, and so I volunteered. I popped my
10:17
Speaker 2: hand up and I would care for them.
10:19
Speaker 3: Oh, you are so special.
10:21
Speaker 2: Honestly, it was the best experience. It was in their
10:24
Speaker 2: last three years of life. And the connection that you
10:28
Speaker 2: build when you're seeing, especially a grandparent who you view
10:32
Speaker 2: in a certain way when you're young, and then being
10:34
Speaker 2: an adult and having to care for them and help
10:36
Speaker 2: them eat and help them walk and do exercises. It
10:40
Speaker 2: has taught me a lot of people's skills, but also
10:43
Speaker 2: it's given me a lot of reflection that life is
10:45
Speaker 2: so sure and you don't know which way it's going
10:48
Speaker 2: to turn.
10:48
Speaker 3: Yeah, and those diseases are heartbreaking, Like, those diseases are
10:53
Speaker 3: things that I would never wish on anybody because they're
10:56
Speaker 3: just slowly chipping away at who you are and what
10:59
Speaker 3: you were. And like watching that, as much as I
11:03
Speaker 3: can see that you're so grateful for the experience, it
11:05
Speaker 3: would have been heartbreaking at the same time because they're
11:08
Speaker 3: losing themselves and that is Oh, you're such a special
11:12
Speaker 3: person for stepping up and doing that. Because as much
11:14
Speaker 3: as you're saying like, oh, it's such an opportunity, like,
11:16
Speaker 3: it also would have been a really rough gig.
11:19
Speaker 2: Yeah, it was tough, but I have been brought up
11:22
Speaker 2: in the most exceptional family. We're a huge family and
11:25
Speaker 2: we are always there for everyone. Everybody has a place
11:29
Speaker 2: and if I needed help, I know anyone would drop
11:31
Speaker 2: a hat to be there.
11:32
Speaker 3: I love this.
11:33
Speaker 2: Yeah, it wasn't even a question, like I just knew yes,
11:35
Speaker 2: I And especially because I was kind of finishing up
11:38
Speaker 2: my degree, I had part time work. I had a
11:40
Speaker 2: bit more time on my hands compared to everybody else
11:43
Speaker 2: working full time.
11:43
Speaker 3: You're like, well that fits me, no worries.
11:45
Speaker 2: Yeah, but it was also the time around COVID. So
11:48
Speaker 2: I was having a hard time finding a job in
11:51
Speaker 2: like a corporate world to do design, so spending my
11:55
Speaker 2: time with them was much preferred. But also it was
11:58
Speaker 2: a lot more valued to me. And because I cared
12:01
Speaker 2: for them, I was then able to start thinking, Okay,
12:04
Speaker 2: what do I want to do, Like I had a
12:05
Speaker 2: bit more time under my sleep, kind of like a
12:07
Speaker 2: gap year but for a few years, and I decided
12:11
Speaker 2: I'm going to start my own clothing brand.
12:13
Speaker 3: Oh okay, yeah. And I had a chat to my dad.
12:15
Speaker 2: I said, Dad, I'm going to start my own clothing brand.
12:18
Speaker 2: And he said, that is the dumbest thing you could do.
12:22
Speaker 3: You can always trust your dad to give you some
12:24
Speaker 3: brutal honesty, can't you.
12:26
Speaker 2: Yes, And he said, do you really want to be
12:27
Speaker 2: self employed? You're going to have to do your own
12:29
Speaker 2: super You're not going to have any leave, no maternity leave,
12:33
Speaker 2: no holiday leave, no sickly trust me, it's just put
12:37
Speaker 2: it in the two high basket. You don't want to
12:39
Speaker 2: do it, just go get a normal job and work
12:40
Speaker 2: for someone else. And I just was like, oh, that
12:43
Speaker 2: sounds boring.
12:44
Speaker 3: You're preaching to the converted, Like I'm at a point
12:47
Speaker 3: in my career now, where if I worked for somebody else,
12:50
Speaker 3: i'd be fired the same day that I started employment
12:52
Speaker 3: with them. So like, yes, not for me, but also
12:56
Speaker 3: it's definitely the safer option. At the end of the day.
12:59
Speaker 3: Having a consistent paycheck coming in is so valuable. Like
13:02
Speaker 3: the amount of stress that you carry as a business
13:05
Speaker 3: owner insane. But tell me, what did you do. Did
13:08
Speaker 3: you listen to your dad's advice?
13:10
Speaker 2: No, I did not, And I went off and I
13:12
Speaker 2: started my own brand, and I had the best time.
13:15
Speaker 2: I woke up every morning and I loved what I
13:18
Speaker 2: was doing. But also keep in mind, I was self
13:20
Speaker 2: employed since I was thirteen. I was teaching music lessons
13:23
Speaker 2: from a very young age. I knew how to talk
13:25
Speaker 2: to clients. I knew how to you know, have those
13:28
Speaker 2: people skills to run your own business. And I just
13:31
Speaker 2: had finished my degree and I was ready to give
13:34
Speaker 2: it a crack. So I had my own brand. I
13:37
Speaker 2: was selling online, I was selling in stores, I was
13:40
Speaker 2: doing runway shows.
13:41
Speaker 3: Oh my god.
13:42
Speaker 2: Yeah, it was thriving. It was going quite well, but
13:45
Speaker 2: I just was starting to feel a bit burnt out
13:48
Speaker 2: from doing the marketing, the sales, negotiating with the manufacturers.
13:52
Speaker 2: There's so many different hats that you need to wear.
13:55
Speaker 2: And I listened to a podcast of She's on the Money,
13:59
Speaker 2: one of the earlier episodes, and you were talking about freelancing,
14:02
Speaker 2: and it was like a light bulb moment, and I thought, oh,
14:05
Speaker 2: my goodness, I can do all of this for somebody
14:08
Speaker 2: else as a freelancer. Still work on my terms, and
14:12
Speaker 2: I kind of chose the roles that I liked the
14:15
Speaker 2: most and the ones that I was best at. So
14:18
Speaker 2: now I am a freelance designer and I do that
14:21
Speaker 2: for clients instead of doing it all for me.
14:23
Speaker 3: What that's so cool? I love that I get to
14:27
Speaker 3: be a timey little part of that journey and that
14:29
Speaker 3: you're like, oh, you planted a little seed and then
14:32
Speaker 3: that grew and now I'm thriving. I love this. I mean,
14:35
Speaker 3: you would have thrived anyway, but like, I like that
14:37
Speaker 3: I got to be part of that. That is legit
14:40
Speaker 3: so cool. So tell me about what you now officially
14:43
Speaker 3: do for work and how much money you earn.
14:45
Speaker 2: So I am a freelance designer and I'm also a
14:48
Speaker 2: music tutor, and the last financial year that we had,
14:53
Speaker 2: I earned one hundred and nine thousand dollars.
14:55
Speaker 3: What one hundred grand and you're just doing your own thing.
14:59
Speaker 2: Yes, And the year before I had earned seventy thousand dollars,
15:04
Speaker 2: and then the year before that when I had just started,
15:07
Speaker 2: only in the last few months I earned thirty grand.
15:09
Speaker 3: That is really good. I love that. So are you
15:13
Speaker 3: paying your own super? Is a very good question because
15:15
Speaker 3: your dad turned around and said, ah, you'd have to
15:18
Speaker 3: pay your own super.
15:19
Speaker 2: Yes. I do my own super, and sometimes I pay
15:23
Speaker 2: a little bit more because I know that it's very important.
15:26
Speaker 2: Sometimes I put fifteen percent in.
15:28
Speaker 3: Oh an icon? How's that going for you? Dad?
15:31
Speaker 2: So my super is currently sitting at thirty two thousand,
15:34
Speaker 2: four hundred.
15:35
Speaker 3: How good's that? And how old are you?
15:37
Speaker 2: I'm twenty four.
15:38
Speaker 3: That is an epic amount of superannuation for someone who
15:41
Speaker 3: is only twenty four to have, Like you're I mean
15:44
Speaker 3: this in the most non condescending way ever. You're just
15:47
Speaker 3: the baby, like you are starting your career and you're
15:51
Speaker 3: earning six figures. Be for real, what other twenty four
15:54
Speaker 3: year old is out there paying their own superannuation, running
15:58
Speaker 3: their own business and earning six figures. That's so cool.
16:01
Speaker 3: I'm so proud of you. I adore this so much.
16:04
Speaker 2: Yeah, it's absolutely crazy, And I drive in between my
16:07
Speaker 2: jobs to different schools and I just think, like, I'm
16:10
Speaker 2: so lucky that I get to do this for work,
16:12
Speaker 2: Like I have the best job, I work with this people,
16:15
Speaker 2: and I'm loving my life, like I'm so grateful that
16:18
Speaker 2: this is how everything's turned out. And the crazy thing is,
16:21
Speaker 2: no one's given it to me. I've just pushed and
16:23
Speaker 2: pushed and pushed and have made it happen for myself.
16:26
Speaker 3: I adore that. It's the tiny little things along the
16:28
Speaker 3: way that end up not being tiny and little, like
16:31
Speaker 3: selling Cabri chocolates and teaching you that you can run
16:34
Speaker 3: your own little business and it doesn't have to be
16:37
Speaker 3: complicated and you can raise funds in a way that
16:40
Speaker 3: makes sense. And then from there you're like, well it's
16:42
Speaker 3: not that hard, Like I could definitely, you know, do
16:44
Speaker 3: some music tutoring and charge some money from that, and
16:47
Speaker 3: it just starts to grow. It's like these tiny little
16:50
Speaker 3: seeds and I love it.
16:52
Speaker 2: I love it.
16:52
Speaker 3: I feel like you're in this position where if I said, hey, money, dires,
16:56
Speaker 3: can we check back in in you know, a year
16:58
Speaker 3: or two years, you could be like, yeah, so I'm
17:00
Speaker 3: earning one fifty. Like it's just going to grow from
17:03
Speaker 3: here on in, especially as your reputation increases as a
17:06
Speaker 3: freelance designer. Right.
17:08
Speaker 2: Yeah, it's actually insane because I don't have to market
17:11
Speaker 2: myself anymore. For example, I just finished with a client
17:15
Speaker 2: last week and already an old client has come back
17:18
Speaker 2: ready to do their next range with me. So people
17:20
Speaker 2: are constantly coming back.
17:22
Speaker 3: I love that. So tell me what does a freelance
17:25
Speaker 3: designer do, because that sounds cool. Are you going in
17:28
Speaker 3: and helping clients create ranges for their businesses or like
17:33
Speaker 3: I need to know it sounds so fun.
17:35
Speaker 2: Yeah, so a brand or an individual. Usually it's individuals
17:39
Speaker 2: who have other jobs. Maybe they're a stay at home mom,
17:42
Speaker 2: or they work in accounting and they just need a
17:44
Speaker 2: creative output. They come to me and they say, hey,
17:48
Speaker 2: I'm wanting to start up a brand, or I'm wanting
17:50
Speaker 2: to develop a range or come out with a product,
17:52
Speaker 2: and I work with them on developing that product. I
17:55
Speaker 2: then do the technical documents so that it can be
17:58
Speaker 2: sent to a factory to produce it. I also do
18:01
Speaker 2: logo design and print design and all the graphics for
18:04
Speaker 2: their brand, and then I send them on their way
18:06
Speaker 2: and they can go and produce it.
18:07
Speaker 3: What and you get paid to do the good bit
18:10
Speaker 3: of business and then hey, guys, you run it. I
18:13
Speaker 3: don't want to do the accounting. I don't want to
18:15
Speaker 3: have a thing to do with your accounting software or
18:18
Speaker 3: like the clients or the issues. Like have fun, bye,
18:21
Speaker 3: and then you get to go do it again.
18:23
Speaker 2: Yeah, and every project is different.
18:25
Speaker 3: You are a genius. I love this. That sounds so fun.
18:28
Speaker 2: Yeah, it is fun. And I've done so many different things.
18:31
Speaker 2: I feel like my scope of work has changed from
18:35
Speaker 2: if I had just gone and worked with a singular brand.
18:37
Speaker 2: I've done dog apparel, swimwear, active, where, men's wear, bridle, everything, like,
18:44
Speaker 2: so many different areas.
18:46
Speaker 3: I'm gonna snoop you later. No one else can do that,
18:48
Speaker 3: but I get to you. I'm going to snoop you later.
18:50
Speaker 3: I cannot wait to see more about this, because I
18:53
Speaker 3: didn't even know that was a thing, Like I just
18:55
Speaker 3: assumed that. You know, if you were starting a dog
18:57
Speaker 3: apparel business, right, you would have to be the designer
19:01
Speaker 3: and create these products and you wouldn't really have the support.
19:04
Speaker 3: But then that's your literal job.
19:06
Speaker 2: Yeah, and a lot of the time. The people that
19:08
Speaker 2: are starting these brands are more analytical. They want to
19:11
Speaker 2: do the business and the selling and the marketing. They
19:14
Speaker 2: don't want to do the design and the construction and
19:16
Speaker 2: chat with the manufacturers. So I'm able to just slot
19:19
Speaker 2: in and assist where I'm needed.
19:21
Speaker 3: Oh, I love that. I want to make a product
19:23
Speaker 3: based business now, so we will have to talk. I
19:25
Speaker 3: have no idea what I want to do, how I
19:26
Speaker 3: want to do it, but that just sounds so fun.
19:30
Speaker 3: Like oh, and even getting to collaborate with people over
19:33
Speaker 3: exciting ideas of something new starting. It's like when I'm
19:36
Speaker 3: sitting down to write like a new course or something,
19:39
Speaker 3: I'm just so high on life because I'm like, oh
19:41
Speaker 3: my god, Like we get to create this brand new
19:43
Speaker 3: product and it's all of those dreams and wishes at
19:45
Speaker 3: the start.
19:46
Speaker 2: Yeah, it is a lot of fun.
19:47
Speaker 3: So tell me money, Darist, what are your big money goals?
19:50
Speaker 3: What are you currently working towards.
19:52
Speaker 2: I am working towards owning ten investment properties.
19:56
Speaker 3: Okay, where does that come from? Why?
19:57
Speaker 2: Ten? I just think ten is a nice number, and
20:02
Speaker 2: I just think like it's just out of reach. But
20:04
Speaker 2: I've already kind of started snowballing, and I think I'll
20:09
Speaker 2: be able to get there. You're already twenty percent of
20:11
Speaker 2: the way there, Yeah, which is kind of crazy to think.
20:13
Speaker 3: It's actually insane, like you're twenty percent of the way
20:15
Speaker 3: there and then the next one will be thirty, Like
20:18
Speaker 3: it actually starts to snowball. Why property? Why not the
20:23
Speaker 3: share market? Why not you know, building business that you
20:26
Speaker 3: can sell, given you're actually very good at that. What
20:28
Speaker 3: about property is so sticky for you?
20:30
Speaker 2: Well? I never actually thought that I was going to
20:33
Speaker 2: go into property. My parents didn't have investment properties. They
20:36
Speaker 2: owned the house that we live in, but there was
20:39
Speaker 2: nothing externally. No one I really knew had like multiple properties.
20:44
Speaker 2: And I was on Instagram. I was scrolling and I
20:47
Speaker 2: saw the fire's egin and he was a twenty something
20:49
Speaker 2: year old who had six properties, And I thought, what,
20:53
Speaker 2: how can this twenty year old have six properties when
20:57
Speaker 2: I'm also a twenty year old? Like what makes him
20:59
Speaker 2: so special? And I had a chat to him and
21:02
Speaker 2: he had talked to me about his strategy positively gearing,
21:07
Speaker 2: negatively gearing. What even is strata? Like I live at
21:10
Speaker 2: home with my parents, I'm so fortunate that I don't
21:13
Speaker 2: have to pay rent. I've never had to pay any
21:16
Speaker 2: of these things, and I wanted to learn more about it.
21:19
Speaker 2: So I started reading. I read a few books, and
21:21
Speaker 2: I just realized, I think this is the asset for me.
21:24
Speaker 2: Also knowing that if something happens and I need to
21:27
Speaker 2: go live somewhere, or if I decide to move to
21:29
Speaker 2: a different state, I can do that. I have that
21:32
Speaker 2: freedom and that flexibility.
21:33
Speaker 3: Yeah, I love that, And I feel like that's you've
21:36
Speaker 3: nailed it right, Like you've nailed it in terms of
21:38
Speaker 3: you've worked out that that's the asset class for you
21:41
Speaker 3: that works the best. Because at the end of the day,
21:44
Speaker 3: I think so many people want to look at a
21:45
Speaker 3: spreadsheet and go, oh, V what asset class returns the most.
21:49
Speaker 3: And if we compare the four main asset classes in Australia, cash,
21:53
Speaker 3: fixed interest, property, and the share market, the share market
21:56
Speaker 3: returns the highest on average, right, But that doesn't mean
21:59
Speaker 3: it's the right asset class for everybody. That just means
22:03
Speaker 3: that on paper, it returns the most. Whereas you sound
22:07
Speaker 3: passionate about property, you're driven. You're motivated, Like you can't
22:11
Speaker 3: pay someone to be passionate and motivated and driven about
22:15
Speaker 3: the share market, whereas when it's property and if that's
22:18
Speaker 3: the right asset class for you, you're going to go no, no,
22:21
Speaker 3: no v. I'm so motivated to get to my next
22:23
Speaker 3: investment property, Whereas if I said, oh, are you keen
22:27
Speaker 3: to get another fifty grand into the share market, you
22:29
Speaker 3: might go not really, like that's not for me. So
22:32
Speaker 3: you just don't have the same commitment.
22:34
Speaker 2: Yeah, definitely. And I think another thing that is pulling
22:37
Speaker 2: me towards the property market is when I wanted to
22:40
Speaker 2: go self employed, my dad listed off a bunch of
22:42
Speaker 2: things that I wouldn't be able to do. One of
22:44
Speaker 2: them was, you'll never be able to own a hope.
22:47
Speaker 3: Okay, Dad, I don't know where you're getting your information from,
22:50
Speaker 3: but I would like to show you my two investment properties.
22:53
Speaker 2: It's so good because I say to him, oh, really,
22:55
Speaker 2: I'm looking for my next one. He's like, yeah, good,
22:57
Speaker 2: keep proving me wrong, keep showing me that you can do.
23:00
Speaker 3: That's the dad's strategy.
23:02
Speaker 2: Yeah, and so like Well, at first too, I was
23:05
Speaker 2: actually told that I couldn't borrow money from a broker.
23:08
Speaker 2: So a few years ago I had seventy grand saved
23:11
Speaker 2: and I went to a broker that my dad recommended,
23:14
Speaker 2: and he said, come back to me in four months
23:16
Speaker 2: at the end of the next financial year. Because my
23:18
Speaker 2: previous financial year I had just done thirty grand and
23:21
Speaker 2: it was coming to the end of the next one.
23:23
Speaker 2: So I had a four months and I saved and
23:25
Speaker 2: I saved and I saved, and I ended up having
23:27
Speaker 2: one hundred grand in savings and my second tax return
23:31
Speaker 2: of seventy grand. And I just thought, like, I'm ready.
23:34
Speaker 2: I'm going to get a place who has this amount
23:36
Speaker 2: of money saved.
23:37
Speaker 3: At twenty three twenty four b for real, I know.
23:40
Speaker 2: And so I had a chat to him and he
23:42
Speaker 2: just said, look, I am so sorry you haven't earned
23:45
Speaker 2: enough in the last financial year. Just keep saving. Come
23:49
Speaker 2: back to me at the end of the next financial
23:50
Speaker 2: year when your income has gone up.
23:52
Speaker 3: No, you find a broker who's going to find a
23:54
Speaker 3: bank or financial institution that will accept twelve months instead
23:58
Speaker 3: of twenty four months of financials. As you probably know
24:02
Speaker 3: this is my space. Like, you find a bank that
24:06
Speaker 3: you know, the interest rate might be slightly different because
24:08
Speaker 3: there's different levels of risk taking on someone who's self employed.
24:12
Speaker 3: But like we've gotten loans for people who have only
24:14
Speaker 3: just started their businesses and are twelve month in Like,
24:17
Speaker 3: it's not about yeah anyway, I've just got a lot
24:20
Speaker 3: to say about that, because so many times we get
24:23
Speaker 3: clients who have been told no, and the reality is
24:26
Speaker 3: the broker didn't want to dive too deep into the
24:29
Speaker 3: reality of other options.
24:31
Speaker 2: Yeah, and I mean me starting out, I just thought, like, really,
24:34
Speaker 2: are you serious? I didn't understand that he was using
24:37
Speaker 2: two years of like two tax returns.
24:39
Speaker 3: Well, why would you. It's not your space. It's literally
24:42
Speaker 3: not your space. And that's why you're meant to go
24:45
Speaker 3: to a good broker so that you just trust what
24:47
Speaker 3: they're saying, because like, you shouldn't have to question it.
24:49
Speaker 3: You shouldn't have to be doing a heap of your
24:51
Speaker 3: research on your own. What should happen is your broker
24:54
Speaker 3: should put everything on the table and explain why all
24:56
Speaker 3: of these options exist so that you go, oh, sick,
25:00
Speaker 3: like that makes the most sense to me. Otherwise, why
25:02
Speaker 3: aren't you doing it yourself?
25:03
Speaker 2: Exactly? So, I was feeling super disheartened, and I dropped
25:07
Speaker 2: a few swear words. I was not happy. I would
25:08
Speaker 2: have too, don't worry, because I thought I was ready
25:11
Speaker 2: to go.
25:12
Speaker 3: You had one hundred grand be for real.
25:14
Speaker 2: Yeah. And I was doing work for this client who
25:16
Speaker 2: actually was a broker at the time, and I sent
25:19
Speaker 2: her a message and I said, I know that this
25:20
Speaker 2: is a bit off topic from your designs, but you know,
25:23
Speaker 2: I just spoke to a broker. He said that I couldn't.
25:25
Speaker 2: Are you able to check my borrowing capacity? I sent
25:28
Speaker 2: her all my details and within a few hours she
25:30
Speaker 2: called me and she was like, oh my goodness, you
25:32
Speaker 2: can borrow up to seven hundred and fifty thousand dollars.
25:35
Speaker 3: And You're like, look, I felt that deep in my bones,
25:38
Speaker 3: like I knew that that was meant to be for me,
25:41
Speaker 3: but someone had been saying no.
25:43
Speaker 2: Yeah. And I was so happy because I already had
25:46
Speaker 2: a buyer's agent under my belt. I now had a
25:49
Speaker 2: broker ready to go. I just needed to find the
25:51
Speaker 2: right property. And in November of twenty twenty three, I
25:54
Speaker 2: purchased my first investment property.
25:56
Speaker 3: Oh my gosh, that's so recent. That's literally eleven months
25:59
Speaker 3: of ooh.
26:00
Speaker 2: I know, not even a full year. It's actually crazy.
26:02
Speaker 2: So I purchase a two bed, one bath, one car
26:05
Speaker 2: apartment in Perth, and I purchased it for three hundred
26:09
Speaker 2: and twenty thousand dollars and I had a deposit of
26:11
Speaker 2: seventy five thousand, and it is positively good.
26:15
Speaker 3: That is such a money win. Let's go to a
26:17
Speaker 3: really quick break on the flip side. I want to
26:19
Speaker 3: dive into the properties that you own, your property strategy,
26:23
Speaker 3: and how you knew that property was the right one
26:26
Speaker 3: for you to purchase. Guys, don't go anywhere, all right,
26:32
Speaker 3: money direst We are back and we are starting to
26:35
Speaker 3: talk about your investments. So before you told us about
26:38
Speaker 3: your first house, can you just quickly recap your first
26:41
Speaker 3: property and then let's talk about your second.
26:44
Speaker 2: Yes. So my first property is in Perth. It is
26:47
Speaker 2: a two bedroom, one bath, one car apartment and I
26:51
Speaker 2: purchased it in November of twenty twenty three. I paid
26:54
Speaker 2: three hundred and twenty thousand dollars to purchase it. My
26:57
Speaker 2: deposit was seventy five thousand, mortgage repayments about four twenty
27:00
Speaker 2: a week, and my rent is five point forty making
27:03
Speaker 2: it positively gear.
27:04
Speaker 3: Tell me more, how did you find that property and
27:07
Speaker 3: how did you go This is for me like, this
27:10
Speaker 3: is the right deal, Like I should absolutely be purchasing
27:14
Speaker 3: this property because you don't live in perse like that
27:17
Speaker 3: could be really scary buying literally on the other side
27:20
Speaker 3: of the country when you live on the East coast.
27:22
Speaker 2: Yeah, it was kind of scary. And I spoke to
27:24
Speaker 2: my bias agent and I said, should we go over
27:26
Speaker 2: and check it out? And he was like, no, you
27:27
Speaker 2: do not need to go. It's okay, Like we're getting
27:30
Speaker 2: building and pess inspections and you'll have like a lot
27:33
Speaker 2: of information sent your way regardless. I like that.
27:35
Speaker 3: He was like, nah, you're fine, You're fine. Yeah, that
27:38
Speaker 3: would give me anxiety, Like I need to see it.
27:41
Speaker 2: I know. I wanted to see it. I wanted to
27:42
Speaker 2: be there, but he had done it so many times,
27:44
Speaker 2: and I thought, just trust the process, Like people come
27:47
Speaker 2: to me who need my help my specialty, and I'm
27:50
Speaker 2: going to him because I need his specialty. So I'm
27:52
Speaker 2: just gonna let him guide the way. But yeah, So
27:56
Speaker 2: we found the six in the complex and I purchased
27:59
Speaker 2: number six, but number five was currently up for sale
28:02
Speaker 2: and I saw it. It didn't have any photos, and
28:05
Speaker 2: I looked it up online and I looked at the
28:08
Speaker 2: exterior of the building. I looked at number one, two, three, four,
28:11
Speaker 2: because I had also all just been sold so I
28:14
Speaker 2: was having a look at all of them. Another's buyer's
28:16
Speaker 2: agent was actually purchasing them all for their clients, and
28:19
Speaker 2: that's kind of what happened. But number six hadn't been
28:22
Speaker 2: put on the market yet, and I didn't know this.
28:25
Speaker 2: I spoke to my buyer's agent and.
28:26
Speaker 3: You're like, hello, that sounds really interesting.
28:29
Speaker 2: Yeah. He's like, is there any others available? And he said, look,
28:31
Speaker 2: number six is about to go. Somebody's already negotiated the
28:35
Speaker 2: price down, but they don't have a buyer, so if
28:38
Speaker 2: you want it, you can take it. And it was
28:40
Speaker 2: below market value. Market value at the time was about
28:43
Speaker 2: three sixty and I ended up purchasing it for three twenty.
28:47
Speaker 3: What the hell?
28:48
Speaker 2: That is actually elite, I know, and I made profits
28:51
Speaker 2: straight away.
28:52
Speaker 3: Oh my god, I am so excited for you. And
28:55
Speaker 3: this is during a time so you were purchasing in
28:59
Speaker 3: twenty twenty three, so when you're purchasing, and I want
29:02
Speaker 3: to just give people a little bit of context, because
29:04
Speaker 3: not everyone's been through that property journey, and I mean,
29:06
Speaker 3: we're all pervy, my love, like we need to know.
29:09
Speaker 3: But if you were purchasing at the end of last year,
29:11
Speaker 3: you weren't getting COVID interest rates, like you were getting
29:14
Speaker 3: high interest rates? So what were your interest rates on
29:18
Speaker 3: these properties? Because so many people over the last twelve
29:21
Speaker 3: to eighteen months like, no, don't want to buy it.
29:23
Speaker 3: Interest rates are way too high, Like that's really scary.
29:25
Speaker 3: I'm going to wait for them to come off. Why
29:28
Speaker 3: weren't you thinking like that?
29:29
Speaker 2: I was thinking it's more about time in the market
29:32
Speaker 2: rather timing the market.
29:34
Speaker 3: Oh you are as she's on the money dream story.
29:36
Speaker 2: I just wanted to drop that. I've been listening for
29:38
Speaker 2: a little bit.
29:40
Speaker 3: No, I love that. But what were your interest rates?
29:43
Speaker 3: And did you go, oh, is this a good or
29:44
Speaker 3: a bad idea? Are you fixed or variable? What does
29:47
Speaker 3: that look like?
29:48
Speaker 2: So I'm variable and my interest rate when I started
29:51
Speaker 2: was six point four or five and it has gone
29:54
Speaker 2: up to six point six. And I'm not too stressed
29:57
Speaker 2: about the interest rate because the yield is so hi.
30:00
Speaker 2: My property has a yield of about eight point eight percent. Yeah,
30:05
Speaker 2: what I know. I'm so fortunate. And it's because we
30:08
Speaker 2: purchased the property before the market was peaking, and then
30:13
Speaker 2: the rent has obviously skyrocketed. In Perth, I could charge
30:17
Speaker 2: a lot more from rent, but I don't want to
30:20
Speaker 2: do that to the tenants. I would rather have tenants
30:22
Speaker 2: that value the property and look after it rather than
30:25
Speaker 2: charging them everything that they've got.
30:26
Speaker 3: Yeah, you're an icon and that's a really sustainable model.
30:29
Speaker 3: Like a lot of people will be listening to this
30:31
Speaker 3: and they're like that so greedy. I can't believe you'd
30:33
Speaker 3: buy property and you know, hoard it. There's a whole
30:35
Speaker 3: heap of conversation to be had around this, and I
30:39
Speaker 3: just I would actually like to see more ethical landlords
30:42
Speaker 3: because in our current economy, in the Australian economy moving forward,
30:46
Speaker 3: there is not going to be a situation where people
30:49
Speaker 3: are not renting, like people need to rent at the
30:52
Speaker 3: end of the day. And I would much prefer ethical
30:55
Speaker 3: landlords like you, who are like I would prefer to
30:58
Speaker 3: buy the house. I'm getting great rental yield. This property
31:00
Speaker 3: is helping me, but also the people that live there
31:03
Speaker 3: are valued and they aren't getting charged extortion at rent.
31:06
Speaker 3: And I think that that's where we need to sit.
31:09
Speaker 3: And even if you have ten properties, that's ten families
31:12
Speaker 3: that you could be helping by not taking the mickey.
31:15
Speaker 2: Yeah, that's what I always think because I've had this
31:17
Speaker 2: conversation with friends and family, and I know that the
31:20
Speaker 2: government doesn't have enough housing for everyone, and who houses
31:25
Speaker 2: majority of the renters. It's individual landlords like myself, and
31:30
Speaker 2: we're giving people a place to stay. Plus when something's
31:33
Speaker 2: broken or something isn't right and my tenant says it immediately,
31:36
Speaker 2: I get it fixed.
31:37
Speaker 3: Yeah, you're a good landlord. Not everyone is the same
31:40
Speaker 3: as you, though. Some people are insanely greedy and don't
31:43
Speaker 3: want to do that. And I think that there needs
31:44
Speaker 3: to be a balance, like if this is going to
31:46
Speaker 3: be part of your you know, wealth creation strategy, like
31:49
Speaker 3: how do we do good and be good along the way.
31:52
Speaker 3: There's been a lot of conversation. You've probably seen it
31:54
Speaker 3: in the She's on the many community. It's not evolving me,
31:56
Speaker 3: but I do let them have their time to you know,
31:58
Speaker 3: share their opinions. But at the end of the day,
32:01
Speaker 3: like we need rental properties on the rental market, and
32:06
Speaker 3: they're only going to go on the rental market if
32:08
Speaker 3: they are bought as investment properties.
32:10
Speaker 2: Yeah, exactly. So I'm really fortunate that I've worked hard
32:13
Speaker 2: enough to be able to assist these people in where
32:15
Speaker 2: they're able to live. I know, like when I was
32:18
Speaker 2: looking for a place in Perth to purchase. I was
32:20
Speaker 2: talking to a few agents and they said that people
32:23
Speaker 2: are living in their cars and these are not just
32:25
Speaker 2: like anyone like doctors and lawyers and people that are
32:29
Speaker 2: having these high paying jobs. They're still struggling to find
32:32
Speaker 2: a place to live. There's not enough housing.
32:34
Speaker 3: Yeah, one hundred percent. And you buying more investment properties
32:37
Speaker 3: is not going to stop that problem, but it is
32:39
Speaker 3: going to open it up, because if we're all just
32:41
Speaker 3: waiting for first home buyers to purchase their first homes
32:44
Speaker 3: and then move into them, that's actually not helping us
32:46
Speaker 3: wear a housing crisis.
32:47
Speaker 2: Yeah. On a lighter note, I was then able to
32:50
Speaker 2: use the equity from that first property to help me
32:54
Speaker 2: purchase the second one in June of twenty twenty four.
32:57
Speaker 3: Oh my god, So tell me about this second one.
33:00
Speaker 3: And you used some equity. How did you use equity
33:03
Speaker 3: and what did that process look like?
33:05
Speaker 2: It was quite seamless for me because I didn't do
33:07
Speaker 2: any of the money side of it. Yep.
33:09
Speaker 3: Your broker was a legend.
33:11
Speaker 2: Yes, she was a legend, and she pulled money out
33:14
Speaker 2: of my first property to then put it into the next.
33:19
Speaker 2: So we pulled out thirty four thousand dollars worth of
33:22
Speaker 2: equity because the property had gone up and we didn't
33:25
Speaker 2: want my first property to go into Elmi territory.
33:28
Speaker 3: Yeap, No, that makes sense. And so did you have
33:30
Speaker 3: to cough up any cash at all for that purchase?
33:33
Speaker 2: Yeah? I had twenty grand already to go, So I
33:35
Speaker 2: paid twenty grand of my own plus thirty four thousand
33:38
Speaker 2: dollars of equity.
33:39
Speaker 3: That's really cool though.
33:40
Speaker 2: Yeah, I was in Elmi for that. I think I
33:43
Speaker 2: had eighteen percent or just under the twenty percent deposit.
33:46
Speaker 2: But with the higher interest rate, it still became beneficial
33:50
Speaker 2: for me because my yield was so high.
33:52
Speaker 3: I love that. Tell me about how much debt you
33:55
Speaker 3: have now?
33:56
Speaker 2: So I have two hundred and eighty four thousand dollars
34:00
Speaker 2: my first property in debt. My second property is two
34:03
Speaker 2: hundred and fifty four thousand dollars, and I have a
34:06
Speaker 2: hex's debt. It was originally sixty thousand, six hundred, but
34:10
Speaker 2: I've windled it down to thirty seven eight hundred.
34:13
Speaker 3: Wow, that is so cool.
34:16
Speaker 2: Yeah, I'm not stressed about the debt because it's still
34:18
Speaker 2: you know, my hex will go like slowly. It hasn't
34:21
Speaker 2: stopped me from borrowing, and my two properties they're paying
34:24
Speaker 2: themselves off. Yeah.
34:25
Speaker 3: So you said the property you purchased in November twenty
34:28
Speaker 3: twenty three, you are paying on your mortgage about four
34:31
Speaker 3: hundred and fifty dollars a week, but you're getting five
34:34
Speaker 3: hundred dollars a week in rent. Is that the same
34:37
Speaker 3: for the second property.
34:38
Speaker 2: Yeah? So I'm paying four hundred and twenty for the
34:42
Speaker 2: second property and I'm getting five hundred and fifty dollars.
34:45
Speaker 3: Well, that's an even better deal. What's the rental yield
34:47
Speaker 3: on that?
34:48
Speaker 2: That's also eight point eight percent?
34:50
Speaker 3: Oh my gosh. I am, honest to god, so proud
34:53
Speaker 3: of you. You were a little hustler.
34:54
Speaker 2: Yeah, And to be honest, I wasn't even looking for
34:56
Speaker 2: a second property. Well, I was looking for a second property,
35:00
Speaker 2: but I didn't want to get it in Perth. Yeah,
35:01
Speaker 2: I was being in Brisbane or Gold Coast.
35:04
Speaker 3: You want some diversity.
35:06
Speaker 2: Yeah, I wanted to change it up. I know that like,
35:08
Speaker 2: if I just stuck with the one market, it could crash,
35:10
Speaker 2: and that's all my assets there. I wanted to spread
35:13
Speaker 2: them out. But my buyer's agent contacted me because somebody
35:16
Speaker 2: had just pulled out of this property. The second one
35:19
Speaker 2: I got.
35:19
Speaker 3: Yeah, no, I'll snap it up at eight point eight
35:21
Speaker 3: percent yield, Like I would have said yes before he'd
35:24
Speaker 3: even finished the conversation.
35:26
Speaker 2: Yeah, it was a no brain. I was like, get
35:28
Speaker 2: me in, I will take it, yes, please, I will
35:32
Speaker 2: sign now.
35:33
Speaker 3: I love that, but I love that a long this journey.
35:36
Speaker 3: A lot of it has to do with your good
35:38
Speaker 3: savings ability, because you couldn't have seized that opportunity if
35:42
Speaker 3: you didn't have that additional twenty thousand dollars in cash
35:44
Speaker 3: sitting to the side. So it's not as though you
35:47
Speaker 3: can just be super passive about property along the way,
35:50
Speaker 3: like and just go, oh, well, I got into my
35:52
Speaker 3: first and I'm going to wait until there's equity for
35:53
Speaker 3: the second, like you could, but it'll take a lot longer.
35:56
Speaker 3: But you've been saving along the side, which meant that
35:59
Speaker 3: when he said, oh, on's just been put to the side,
36:01
Speaker 3: You're like, yeah, noorries, I'll take that, thank you. Like
36:04
Speaker 3: what a way to seize an opportunity, I know.
36:07
Speaker 2: And because I had that cash, I was able to
36:09
Speaker 2: get in the market sooner. And my broker has done
36:12
Speaker 2: a valuation on both of my properties, and I'm now
36:15
Speaker 2: able to put one hundred and twenty one thousand dollars
36:17
Speaker 2: out of both properties to put towards my next three All.
36:20
Speaker 3: Right, tell me about that. What's the strategy, what's the plan,
36:23
Speaker 3: what are we doing moving forward?
36:25
Speaker 2: So the plan is to purchase in high growth areas
36:29
Speaker 2: that also have a reasonable yield that cover all, if
36:33
Speaker 2: not majority, of my repayments, so that my overall portfolio
36:38
Speaker 2: is positive. I'd rather overall positive. I can have a
36:41
Speaker 2: few negative properties in.
36:42
Speaker 3: There, Yeah, because those ones over time are probably I guess,
36:46
Speaker 3: wealth builders, because they're going to increase in value rather
36:50
Speaker 3: than just have good rental yield.
36:52
Speaker 2: Yeah. And the ones that can grow faster or grow slower,
36:56
Speaker 2: but larger amounts of equity for me than means I
36:59
Speaker 2: can then go and purchase more properties down the track
37:02
Speaker 2: without using cash that I've had to save.
37:04
Speaker 3: Oh my gosh. And is your broker just on your
37:06
Speaker 3: team to make sure that this is always being checked
37:09
Speaker 3: in on, always having your interest rates reviewed, and like
37:12
Speaker 3: knowing at what point you can purchase again.
37:14
Speaker 2: Yeah, she's fantastic. We even had a big phone call.
37:17
Speaker 2: I said, I want to get ten and I don't
37:20
Speaker 2: want to stop, Like, I don't want to be unable
37:22
Speaker 2: to service these loans. So we've set up a company
37:26
Speaker 2: and a discretionary trust to purchase my future properties under.
37:29
Speaker 3: I Connie, I was about to say, so, how is
37:31
Speaker 3: this structured in the background, Like, have you seen an
37:34
Speaker 3: accountant to make sure that you know that cash flow
37:37
Speaker 3: is going through your property portfolio?
37:39
Speaker 2: Yeah, so it's all been set up, which is fantastic.
37:42
Speaker 3: I'm obseested.
37:42
Speaker 2: So I now own a company and a trust, which
37:44
Speaker 2: is just crazy because I feel like this stuff just
37:46
Speaker 2: goes over my head a little bit. But I'm so
37:48
Speaker 2: fortunate to have the best team who's able to explain
37:51
Speaker 2: everything and make sure all the eyes are dotted and
37:54
Speaker 2: all the teas across.
37:55
Speaker 3: Yeah, adoor adore, I'm so obsessed with this. For you. Congratulations. Literally,
38:00
Speaker 3: that is honestly so impressive. Tell me what can we
38:04
Speaker 3: learn from you? What's your best money habit?
38:06
Speaker 2: Well? I never buy anything full price, like that is
38:09
Speaker 2: just not something that happens. I look on Facebook, Marketplace, eBay,
38:13
Speaker 2: op shops sales like I go to the gym and
38:17
Speaker 2: I go to one of those major gyms and they
38:20
Speaker 2: always have sales. But I don't want to pay the price. Like,
38:23
Speaker 2: my gym membership is usually thirty two dollars a week,
38:27
Speaker 2: which for me, I think like, yeah, okay, but it's
38:29
Speaker 2: a little on the higher end.
38:31
Speaker 3: An investment in your health. But I get it.
38:33
Speaker 2: So I called around. Because they're all individually owned, I'd
38:36
Speaker 2: call around and say, hey, like, what's the best price
38:38
Speaker 2: you can do? Okay, I'd get that price, go to
38:40
Speaker 2: the next one. Hey, so and so can do this price.
38:43
Speaker 2: What can you do? And I ended up getting my
38:45
Speaker 2: membership down.
38:46
Speaker 3: You're a legit hustler. I love it.
38:49
Speaker 2: I just love a deal. I love a good deal.
38:51
Speaker 2: But I got my gym membership down to nineteen dollars
38:54
Speaker 2: a week.
38:54
Speaker 3: Oh my god, don't ask. Don't get though, Yeah, you're
38:57
Speaker 3: saving cash, Like, and if you don't ask, the answer
38:59
Speaker 3: is immediately no. And if you ask, like, no one's
39:02
Speaker 3: going to judge you because usually the people that you're
39:04
Speaker 3: talking to are just like you, and they're like, oh,
39:06
Speaker 3: this girl's savvy.
39:07
Speaker 2: But they even go wow, like I appreciate what you're doing,
39:09
Speaker 2: Like you're smart, you're trying to beat the system.
39:12
Speaker 3: Yeah, I see what you're doing. I respect it. Here
39:14
Speaker 3: you go nineteen bucks a week, money ween.
39:17
Speaker 2: Yeah, exactly, So that's probably my best one, you know,
39:20
Speaker 2: always asking, always trying to get the best deal, negotiating.
39:23
Speaker 3: I love that. Tell me, though, are you bout at anything?
39:26
Speaker 3: What's your worst money habit? I have two.
39:29
Speaker 2: My first one is that I have become a willing
39:33
Speaker 2: victim of lifestyle creep.
39:34
Speaker 3: Yeah.
39:35
Speaker 2: And I'm enjoying getting my nails done and you know,
39:38
Speaker 2: having a personal trainer and going out for more dinners.
39:41
Speaker 2: And I know I could be spending my money better
39:45
Speaker 2: to reach my goals, Like my goals are big goals,
39:47
Speaker 2: and I know I need to put a lot of
39:48
Speaker 2: money aside. And because I've now earned over one hundred
39:52
Speaker 2: thousand dollars, everything's just like I'm not saving as much
39:55
Speaker 2: and I need to pair it back and pretend that
39:58
Speaker 2: I only have seventy thousand and dollars of income to
40:01
Speaker 2: save more.
40:01
Speaker 3: Yeah, that's fair, that's fair, And I do you know
40:04
Speaker 3: what I feel like? That's so common in the first
40:07
Speaker 3: few years as a small business owner, when you start
40:09
Speaker 3: to earn more and have a little bit more financial freedom,
40:12
Speaker 3: you really utilize that and then give it another twelve
40:15
Speaker 3: months and you'll be like, nah, I'm going to crack
40:17
Speaker 3: down again because like, you know, I'm not achieving the
40:19
Speaker 3: big goals as fast as I want to.
40:21
Speaker 2: Yeah exactly. I mean, like, do I really need hot
40:24
Speaker 2: pink nails every week? Probably not?
40:26
Speaker 3: Oh sorry, wrong answer for me. Whoops, whoops.
40:30
Speaker 2: Maybe I could paint them myself, Okay.
40:32
Speaker 3: Like I do do that and I really enjoy it,
40:34
Speaker 3: Like I always do my own nails at home, and
40:36
Speaker 3: it's kind of become like a little bit cathartic, like
40:39
Speaker 3: I have a fun time doing it, but that's over time,
40:42
Speaker 3: Like I used to be the girlie that got ownail's
40:44
Speaker 3: done all the time. In saying that I can't do
40:46
Speaker 3: my own lashes myself, and like that's something I'm not
40:49
Speaker 3: willing to give up. So I think that there needs
40:51
Speaker 3: to be some level of balance of enjoying the now
40:54
Speaker 3: but also creating wealth into the future. And I think
40:56
Speaker 3: that it's I'm just never going to be one of
40:58
Speaker 3: those financial independents rot early girlies, that's okay.
41:02
Speaker 2: I think I will also love the luxuries of life
41:05
Speaker 2: a little bit too much too.
41:06
Speaker 3: I don't think there's any shame in that. I think
41:08
Speaker 3: it's just like, no, this is how I like allocating
41:10
Speaker 3: my money, and I'm very aware of my values exactly.
41:13
Speaker 2: But my second worst habit would be, like I feel
41:17
Speaker 2: like I need to buy things because they are such
41:19
Speaker 2: a good deal. When I see a deal, I can't
41:22
Speaker 2: walk away. I was at an op shop and I
41:25
Speaker 2: saw the ugliest dress. It's so ugly. It was a
41:29
Speaker 2: deer only dress with boning in this weird greeny blue
41:33
Speaker 2: color with pleating, and it looked terrible on me. But
41:36
Speaker 2: it had brand new tags on for seven hundred and
41:38
Speaker 2: fifty dollars and I bought it for fifteen So how
41:40
Speaker 2: could I not?
41:41
Speaker 3: Okay? Well, but also if it looks terrible on you,
41:43
Speaker 3: like you could sell that like for fifteen bucks, like
41:46
Speaker 3: you're going to get fifty at least, Like you know
41:48
Speaker 3: what I mean, Like you're a hustler. What are you
41:50
Speaker 3: doing with the dress?
41:50
Speaker 2: Low?
41:51
Speaker 3: Have you just put it in your wardrobe?
41:52
Speaker 2: Yeah, it's just sitting here.
41:53
Speaker 3: Are you going to sell it? You're going to wear it?
41:55
Speaker 3: Like if it doesn't look good on you, get rid
41:57
Speaker 3: of that.
41:57
Speaker 2: Yeah, I know I need to do something, But the
41:59
Speaker 2: thing is I have so many of those things, like
42:01
Speaker 2: they all just accumulate. I need to go to in
42:03
Speaker 2: set up like a market store.
42:04
Speaker 3: No, you don't you need to just become a deepop girly. Yes,
42:08
Speaker 3: take a photo of it, chuck it online. If it sells,
42:11
Speaker 3: go back to your wardrobe, pull it out, pop it
42:13
Speaker 3: in a post pac send it off so easy. Yes
42:16
Speaker 3: exactly Jess from She's on the money, She's a deep
42:18
Speaker 3: pop queen. But I feel like it just does the
42:21
Speaker 3: hard work for you, Like in a market stall. I
42:23
Speaker 3: feel like they're fun, but like that's a lot of work,
42:27
Speaker 3: whereas snap a picture of you in the dress, pop
42:29
Speaker 3: it online and when it.
42:30
Speaker 2: Sells, it sells so good. I should give that a go.
42:33
Speaker 3: I want to hear about it. Money, Dirice, this has
42:35
Speaker 3: been elite, Like, I am obsessed with your money story.
42:39
Speaker 3: You said though that you're a solid b but even
42:42
Speaker 3: your like quote worst money habits are things that you
42:46
Speaker 3: were like, no, no, no, it's like not something that
42:48
Speaker 3: I want to change, like you know, quote worst habit,
42:51
Speaker 3: but also like best outcome for me. I'm enjoying life
42:54
Speaker 3: and really happy with the way I'm spending money. You're
42:56
Speaker 3: self employed, you have two positively geared, and you're going
43:00
Speaker 3: to buy ten. Literally you said earlier that you have
43:03
Speaker 3: one hundred and twenty one thousand dollars worth of equity
43:06
Speaker 3: that you can use literally today to get you into
43:09
Speaker 3: your next three properties. Do you think that sounds like
43:13
Speaker 3: someone who's just to.
43:14
Speaker 2: Be I think, knowing my money mindset of me being
43:18
Speaker 2: so money hungry and constantly working, I have a hard
43:22
Speaker 2: time of having a break and giving myself that like
43:26
Speaker 2: a six day or a float, like I will always
43:28
Speaker 2: work because I am self employed. So I don't think
43:30
Speaker 2: I'm at a level yet maybe a B plus. I
43:34
Speaker 2: will upgrade myself too, but there's always room to grow,
43:38
Speaker 2: and I think I won't be at an A until
43:39
Speaker 2: I get further along my goal.
43:41
Speaker 3: Yeah that's fair, that's fair. And I mean, if we
43:43
Speaker 3: look at your goal pragmatically, you're twenty percent of the
43:46
Speaker 3: way there.
43:46
Speaker 2: I know, crazy, Yeah, but that's cool.
43:48
Speaker 3: That's twenty percent you didn't have before twenty twenty three. Like,
43:51
Speaker 3: that is very cool. I'm so excited about this, and
43:55
Speaker 3: I am hoping that at some stage you're willing to
43:57
Speaker 3: do an updated money diary, because we need to know
43:59
Speaker 3: where you have gone and what this looks like. But
44:02
Speaker 3: till then, Money, Doris, we have run out of time.
44:05
Speaker 3: So it has been a pleasure. I have loved this
44:07
Speaker 3: this is so fun. I felt so motivated to, you know,
44:11
Speaker 3: make sure that we are all finding our own journey.
44:13
Speaker 3: I loved what you said early on in the episode
44:16
Speaker 3: was that you looked into property and picked the right
44:19
Speaker 3: asset class for you. And whether people pick property or
44:22
Speaker 3: shares or fixed interest or cash like, I don't mind,
44:26
Speaker 3: but I love that you deep dove into working out
44:28
Speaker 3: what worked for you and now you're going for it like,
44:31
Speaker 3: it's just so cool. I'm so proud of you.
44:33
Speaker 2: Thank you of course.
44:35
Speaker 3: Oh my gosh, well, thank you for being on the show.
44:37
Speaker 3: It has been an absolute pleasure.
44:39
Speaker 2: Thank you so much for having me, and I love
44:41
Speaker 2: your podcast.
44:42
Speaker 3: Thank you now you're on it crazy. The advice shared
44:52
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44:54
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44:58
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