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How Property Flipping Helped Us Build the Life We Actually Wanted · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
• 0:04
  Speaker 1: the Order Kerni Whaltbury 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.
• 0:33
  Speaker 2: Let's get into it. She's on the Money.
• 0:36
  Speaker 3: She's on the Money.
• 0:57
  Speaker 2: Hello, and welcome to She's on the Money the podcasts.
• 1:00
  Speaker 2: It lets you be pervy about other people's money habits
• 1:03
  Speaker 2: for educational purposes of course. Welcome back to another one
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  Speaker 2: of our money diaries where I get the absolute pleasure
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  Speaker 2: of chatting to one of our incredible She's on the
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  Speaker 2: Money community members all about their journey. Let's jump straight
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  Speaker 2: into it, because this week I got a message and
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  Speaker 2: it went exactly like this, Dear She's on the Money.
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  Speaker 2: My husband and I started out in retail flipping homes
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  Speaker 2: on the side to boost our income. What began as
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  Speaker 2: a way to make extra money has now turned into
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  Speaker 2: a fully fledged business and our thriving property styling agency.
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  Speaker 2: Now we help homeowners increase their property's values so it
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  Speaker 2: sells faster and for more. Our journey is all about
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  Speaker 2: turning a side hustle into financial freedom, and we would
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  Speaker 2: love to share how we built wealth doing what we
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  Speaker 2: love with the Shees on the Money community. Welcome to
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  Speaker 2: the show money Diarist.
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  Speaker 4: Thank you.
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  Speaker 2: I am very excited. But before we get there, I
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  Speaker 2: have to ask the same question I ask everybody. If
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  Speaker 2: I asked you to give your money habits a grade
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  Speaker 2: from A through to F, what would you grave them?
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  Speaker 4: I would grade my money habits a C oh a C.
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  Speaker 2: All right, I need to know so much more about that.
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  Speaker 2: Can you tell me a little bit more about your
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  Speaker 2: money story?
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  Speaker 4: Absolutely so.
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  Speaker 5: My money story, I guess, starts from when I was
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  Speaker 5: a young age. As most people do, I was always
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  Speaker 5: a very creative person, and I grew up in a
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  Speaker 5: household where my family worked very hard.
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  Speaker 4: For the money and I knew that they did that.
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  Speaker 5: We grew up in regional New South Wales, and I
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  Speaker 5: think that my family did a really amazing job at
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  Speaker 5: shielding me of the.
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  Speaker 4: Impacts of how hard it was for them to go
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  Speaker 4: out and get that money. So that allowed me to
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  Speaker 4: grow up with I.
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  Speaker 5: Think that sort of mindset of the money comes but
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  Speaker 5: also allow me the space to be creative, which is.
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  Speaker 4: Where my talents were.
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  Speaker 5: So I think that although I'd like maybe not to
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  Speaker 5: be so shielded at times, and probably why I give
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  Speaker 5: myself such a lower score, I'm very grateful for the
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  Speaker 5: journey that that has led me on because it, I guess,
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  Speaker 5: goes to show that creative fields often get a bad
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  Speaker 5: rap for not being well paid, and I think that
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  Speaker 5: it is easier to fall into that because of how
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  Speaker 5: hard you have to work at it. But yeah, I
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  Speaker 5: think that really it shows that where your passions lie.
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  Speaker 5: If you can find your sort of grieve in that field,
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  Speaker 5: it can be really prosperous and you can really make
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  Speaker 5: it work financially if you just play your cards right
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  Speaker 5: and yeah, do the right things, make the right moves,
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  Speaker 5: and keep at it.
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  Speaker 2: Totally tell me a little bit more about life. So
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  Speaker 2: you've mentioned in your letter in that your husband and
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  Speaker 2: I started in retail. How did you guys meet and
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  Speaker 2: were you always on the same money page.
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  Speaker 4: We have always been.
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  Speaker 5: On the same money page in terms of believing that
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  Speaker 5: money comes and money goes, and we very much work
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  Speaker 5: off the mindset that the money is out there, we
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  Speaker 5: just need to go. I'll make it ours in whatever
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  Speaker 5: we need to do. So I think yes. In terms
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  Speaker 5: of how we got into property, not so much. He
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  Speaker 5: was very anti debt, anti loan, didn't want to get
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  Speaker 5: involved in any of that, kind of like big debt.
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  Speaker 4: He was had very.
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  Speaker 5: Strong views on that. And I come from the mindset
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  Speaker 5: of using other people's money or trying to use other
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  Speaker 5: people's money.
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  Speaker 4: To make something of that.
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  Speaker 5: And so I sort of, you know, got in there
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  Speaker 5: and slowly but surely chipped away at his beliefs and
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  Speaker 5: convinced him to get into property. So we did meet
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  Speaker 5: through work in retail and have built what we have
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  Speaker 5: today because of the foundations of what we've worked on
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  Speaker 5: with our money, and also the skills that we've gained
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  Speaker 5: with working through other organizations and that as well.
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  Speaker 4: Love.
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  Speaker 2: So tell me about your first property purchase, Like, how
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  Speaker 2: did you say for the deposit? How much did it cost?
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  Speaker 5: All of those So the very first deposit that we saved,
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  Speaker 5: we really scratched around so I convinced him to buy
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  Speaker 5: a renovation project because that's what I wanted to sort
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  Speaker 5: of start with, and so we sold everything we had.
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  Speaker 5: We sold one of our cars. We had a really
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  Speaker 5: nice big boat that we had imported from the States
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  Speaker 5: that were his pride and joy. We also sold that
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  Speaker 5: and we just went without for as long as we
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  Speaker 5: could to scratch up as much as we needed. We
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  Speaker 5: talked to a lot of people as well that were
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  Speaker 5: sort of in the property in real estate industry and
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  Speaker 5: developers and that and challenged the mindset of needing a
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  Speaker 5: twenty percent I think deposit, which at the time was
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  Speaker 5: sort of everyone's like we needed twenty percent deposit to
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  Speaker 5: get into property, and other people were saying like, no,
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  Speaker 5: you don't really, So we challenged that and we scratched
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  Speaker 5: as much I think as what we needed for I
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  Speaker 5: think we had like four point nine percent or something
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  Speaker 5: like that.
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  Speaker 4: So we were able to.
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  Speaker 5: Borrow off that and we bore brought a renovation project
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  Speaker 5: to completely strip and do up as our first renovation.
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  Speaker 5: We gave ourselves twelve months to do it, and we
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  Speaker 5: borrowed my parents' caravan for three of those months and
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  Speaker 5: lived in the backyard slowly chipping away it, renovating it
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  Speaker 5: to do it up so fully, gutted it, styled it,
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  Speaker 5: put it on the market twelve months, pretty much on
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  Speaker 5: the dot later, and made a little profit from it,
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  Speaker 5: and did it all again.
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  Speaker 2: I love that. So what did you purchase for? And
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  Speaker 2: then what did you ultimately sell for?
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  Speaker 5: So the initial purchase price was I think four hundred
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  Speaker 5: and thirty thousand for that one, and we sold for
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  Speaker 5: six hundred and fifty.
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  Speaker 2: Oh my god. And what do you reckon? You invested
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  Speaker 2: over that period of time to get such a good
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  Speaker 2: return all up?
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  Speaker 4: It was one hundred and thirty investment.
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  Speaker 2: Oh how good is that?
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  Speaker 4: Yeah? So for our first moie, we were pretty stoked
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  Speaker 4: with that.
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  Speaker 2: I find that most people when they do their first
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  Speaker 2: rend of if they're like, look, I'm going to start
• 7:01
  Speaker 2: flipping homes, they like completely underestimate how much this is
• 7:05
  Speaker 2: going to cost in time and energy, in effort, in
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  Speaker 2: like literally everything, and they blow their budget. And often
• 7:11
  Speaker 2: you see and you'd probably see this as well, people
• 7:14
  Speaker 2: just breaking even and they're like, oh, I'm glad I
• 7:16
  Speaker 2: got out of that. If I do that again, here
• 7:18
  Speaker 2: are all the things I would do differently. But to
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  Speaker 2: do that on your first time is incredible.
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  Speaker 5: So we then use the equity and reborrowed to another
• 7:26
  Speaker 5: one before we'd even sold that one actually, oh my goodness,
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  Speaker 5: which was a smaller sort of townhouse project. And we
• 7:34
  Speaker 5: have always just been very open and creative two deals
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  Speaker 5: and because there's always a way around. There's always someone
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  Speaker 5: that you can find that needs something from a deal,
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  Speaker 5: whether it might be cash, might be time. You know,
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  Speaker 5: there's always a way to be able to work something
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  Speaker 5: out that's a win win, and I think that we
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  Speaker 5: have been very creative in our approach to that.
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  Speaker 2: I love that. So talk to me about you've gone
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  Speaker 2: from that first project which you sold for six hundred
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  Speaker 2: and fifty five thousand, how many properties have you done now?
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  Speaker 4: I think in total it's we must be on.
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  Speaker 2: Five on five. Yeah, oh my gosh.
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  Speaker 5: We have put a pause on it for the moment
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  Speaker 5: and had actually since COVID we'd probably get back into
• 8:13
  Speaker 5: it this year. We'll hope to get back into it
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  Speaker 5: this year. But we sold our last one the first
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  Speaker 5: weekend of the COVID shutdown.
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  Speaker 2: Oh my goodness, that is good timing to get out
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  Speaker 2: because then it like completely dropped and I mean it
• 8:26
  Speaker 2: has recovered since, but like you were probably breathing a
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  Speaker 2: sigh of relief that you didn't have to go through
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  Speaker 2: home inspections while in lockdown, right.
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  Speaker 5: Yeah, well it was very interesting. I mean, in hindsight,
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  Speaker 5: you know, if we had kept it, it would have been
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  Speaker 5: a really good same position. But it worked for us,
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  Speaker 5: and we were able to sort of pull all of
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  Speaker 5: our money out of the property and invest that into
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  Speaker 5: the business.
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  Speaker 4: That we have now.
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  Speaker 2: I love that, So talk to me more about the
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  Speaker 2: business that you have now, because it's come from being
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  Speaker 2: property flippers, hasn't it.
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  Speaker 4: Yeah, that's right.
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  Speaker 5: So we were involved in aging our properties for sale,
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  Speaker 5: so we really sort of impact in how that made
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  Speaker 5: to the presentation and to the engagement and that of
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  Speaker 5: people buying. So it really did impact our prices in
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  Speaker 5: most of our deals, and so being able to help
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  Speaker 5: other people that are on that same trajectory in terms
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  Speaker 5: of their renovations or their builds is really nice. But
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  Speaker 5: we ultimately, yeah, deal with it every day. So we
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  Speaker 5: purchased this a little side hustle to support our flipping,
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  Speaker 5: and when COVID happened and we were unsure of what
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  Speaker 5: the property market was going to do, we made the
• 9:38
  Speaker 5: decision to pull everything out of property and invest it,
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  Speaker 5: throw it all at this staging because we're getting a
• 9:44
  Speaker 5: lot of traction there. So that's what we did, and
• 9:48
  Speaker 5: because we knew so many people in the industry. It's
• 9:51
  Speaker 5: just sort of snowballed from there, I think because we
• 9:54
  Speaker 5: come from that really like caring background in how like
• 9:58
  Speaker 5: the impact that actually has on someone be an asset,
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  Speaker 5: Like for most people, property is the biggest thing transaction
• 10:04
  Speaker 5: that they will deal with. And being able to make
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  Speaker 5: that impact of thirty to seventy to one hundred K
• 10:10
  Speaker 5: difference just with the investment of staging, it's huge, and
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  Speaker 5: it's still not enough people are educated or know about
• 10:17
  Speaker 5: that presentation or think about the VIA's psychology that goes
• 10:20
  Speaker 5: into the presentation of that space. So it's really exciting
• 10:25
  Speaker 5: and really fun and interesting and has so much to offer.
• 10:28
  Speaker 2: I love that so much. So getting back into the
• 10:30
  Speaker 2: nitty gritty questions, what is your official job title now
• 10:34
  Speaker 2: and how much money do you earn? So I'm self
• 10:36
  Speaker 2: employed obviously as a company creative director, and my base
• 10:41
  Speaker 2: salary I pay myself is one hundred and fifty K
• 10:44
  Speaker 2: plus bonus, and then also have a fifty percent profit
• 10:48
  Speaker 2: share on the profits of the business as well. Oh
• 10:50
  Speaker 2: how good. So what would your tax return come out
• 10:53
  Speaker 2: to on average each year tax route?
• 10:57
  Speaker 5: I think the last one was around one hundred and
• 10:59
  Speaker 5: fifty thousand.
• 11:01
  Speaker 2: Yeah, so when you talk about bonus and stuff, that's
• 11:04
  Speaker 2: not very regular because if your base is one p
• 11:07
  Speaker 2: fifty and then bonus plus profit shared, does that mean
• 11:09
  Speaker 2: like it's not there yet or like I'm just trying
• 11:12
  Speaker 2: to engauge, like how much you get to take home?
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  Speaker 5: Yes, absolutely, so it's sort of anything from three to
• 11:17
  Speaker 5: five hundred, three hundred and five hundred thousand.
• 11:20
  Speaker 4: We do invest a lot back.
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  Speaker 2: Into the business, yeah, fair as most small businesses do. Right,
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  Speaker 2: Like I feel like everyone's like, oh my god, is
• 11:27
  Speaker 2: that all profit? And then it's like no, no, that
• 11:30
  Speaker 2: all has to go back into inventory and stock and
• 11:33
  Speaker 2: staff and logistics and all of the boring stuff.
• 11:37
  Speaker 4: Yes.
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  Speaker 5: Yeah, and we have in the last five years, we
• 11:41
  Speaker 5: have very strategically we invested much of it back, so
• 11:46
  Speaker 5: we sort of say feed the beast.
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  Speaker 2: Yeah, one hundred percent.
• 11:49
  Speaker 5: So between furniture and team member investment has been a
• 11:53
  Speaker 5: big one for us this year.
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  Speaker 2: Yeah, totally. And is your husband employed by that business
• 11:59
  Speaker 2: as well or is oh cool? And are you both
• 12:02
  Speaker 2: earning about the same Yes, awesome, how good? All right,
• 12:06
  Speaker 2: tell me a little bit more. You've obviously got some
• 12:08
  Speaker 2: good income in addition to building a really solid business.
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  Speaker 2: What are your big money goals at the moment? Is
• 12:13
  Speaker 2: to get into another property to flip or are there
• 12:16
  Speaker 2: other things going on?
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  Speaker 4: Yeah? Absolutely, So we have been working very hard.
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  Speaker 5: Also, everything that we do, all the way that we
• 12:23
  Speaker 5: manage our money is very sort of structured, and we
• 12:26
  Speaker 5: have been working on the last few years to strategically
• 12:30
  Speaker 5: create investment money. So we're looking at a commercial investment
• 12:36
  Speaker 5: to support our business.
• 12:38
  Speaker 4: In warehousing, that's one of our biggest costs.
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  Speaker 2: Yeah, that would be one of the hardest things, right
• 12:44
  Speaker 2: because like, if you're doing property styling, I'm assuming you
• 12:46
  Speaker 2: have a lot of big, large, bulky items to store.
• 12:49
  Speaker 4: Absolutely, how are.
• 12:50
  Speaker 2: You managing that at the moment?
• 12:53
  Speaker 5: Well, the good thing is that it's always in and out,
• 12:56
  Speaker 5: So if we have a full warehouse, then we're not
• 12:57
  Speaker 5: necessarily doing that.
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  Speaker 2: Great, Oh thank you God, Like I can't imagine. You're like, yeah,
• 13:02
  Speaker 2: so I just have to store like seven couches, Like, oh.
• 13:05
  Speaker 4: Yeah, we know.
• 13:06
  Speaker 2: We're talking hundreds, oh my goodness, hundreds of it. So
• 13:10
  Speaker 2: if they're obviously all out, but like what if not
• 13:13
  Speaker 2: even half of them are back, where are we keeping
• 13:15
  Speaker 2: like fifty couches?
• 13:17
  Speaker 5: So we have around twenty two hundred squamen is warehousing
• 13:20
  Speaker 5: and that means that at Christmas time, especially when the
• 13:25
  Speaker 5: market sort of slows right down and a lot of
• 13:27
  Speaker 5: things come back, we are very full.
• 13:29
  Speaker 2: Yeah wow, oh my goodness. And obviously purchasing or like
• 13:34
  Speaker 2: going down the commercial route would make a lot of
• 13:36
  Speaker 2: sense in that aspect because you're probably paying a lot
• 13:39
  Speaker 2: of rench to somebody else at this point, that's right.
• 13:42
  Speaker 5: Yeah, So we're currently exploring that option as well as
• 13:45
  Speaker 5: some other sort of share avenues as well, just to
• 13:47
  Speaker 5: start to get that money working a little bit harder
• 13:50
  Speaker 5: from our savings.
• 13:50
  Speaker 2: So so good, All right, let's go to a really
• 13:53
  Speaker 2: quick break and on the flip side, I want to
• 13:54
  Speaker 2: talk a little bit more about investments and then debt
• 13:57
  Speaker 2: and your best and worst money habits, So guys don't
• 13:59
  Speaker 2: go anywhere, all right, money diarist, We are back, and
• 14:06
  Speaker 2: you mentioned before that you are trying to free up
• 14:08
  Speaker 2: some cash to make some more investments, and I want
• 14:11
  Speaker 2: to know more about that what investment strategy are you
• 14:13
  Speaker 2: planning on implementing over the next few.
• 14:15
  Speaker 4: Years, So particularly real estate. That's obviously really.
• 14:20
  Speaker 2: I did not see this coming from you. That is
• 14:22
  Speaker 2: actually so crazy.
• 14:24
  Speaker 5: Yeah, so commercial real estate is one of our big
• 14:27
  Speaker 5: strategies that we want to get into and also some
• 14:31
  Speaker 5: back into what we're passionate about and where it all
• 14:33
  Speaker 5: started in that residential sector as well. I really like
• 14:37
  Speaker 5: the concept of having residential properties to rent that provide that.
• 14:43
  Speaker 4: Sort of cash balance and flow there.
• 14:45
  Speaker 2: So love And are you like, do you have any
• 14:48
  Speaker 2: other investments in any other areas currently?
• 14:50
  Speaker 1: No?
• 14:51
  Speaker 2: Cool? Very cool? Do you pay yourself super as a
• 14:54
  Speaker 2: small business?
• 14:55
  Speaker 4: Absolutely?
• 14:55
  Speaker 2: So you do have other investments? Oh well sorry, yes,
• 15:00
  Speaker 2: So talk to me about how you're handling your SUPER,
• 15:03
  Speaker 2: because I feel like small business owners always overlook paying
• 15:06
  Speaker 2: themselves SUPER and then it's ten years down the road
• 15:09
  Speaker 2: and they're like, I wish I started this earlier when
• 15:11
  Speaker 2: you were setting up your business. And obviously you guys
• 15:13
  Speaker 2: are able to take out some like nice profits to
• 15:15
  Speaker 2: have I would say, a relatively comfortable lifestyle. When did
• 15:20
  Speaker 2: super enter the chat?
• 15:21
  Speaker 4: So we'll be.
• 15:22
  Speaker 5: Honest, we did not pay SUPER in the first year and.
• 15:26
  Speaker 2: A half neither did I do not worry. You actually
• 15:31
  Speaker 2: have no money, so like.
• 15:32
  Speaker 4: Cut no money, we were out.
• 15:34
  Speaker 2: Yeah, like we felt broke because we were in the
• 15:37
  Speaker 2: first year.
• 15:38
  Speaker 5: Yes, yep, because we were that's one hundred percent right.
• 15:41
  Speaker 5: But by second year we knew how important it was.
• 15:43
  Speaker 5: We knew we needed to get our ball rolling, so
• 15:46
  Speaker 5: we doubled it up when we could, and now we
• 15:49
  Speaker 5: just consistently pay.
• 15:51
  Speaker 4: Yeah, a little bit more than what's needed.
• 15:53
  Speaker 2: Oh good, good, All right. To talk to me about debt,
• 15:56
  Speaker 2: you said at the start, like getting your husband to
• 15:58
  Speaker 2: purchase his first like property with you was really hard
• 16:01
  Speaker 2: because he was really averse to debt. Talk to me
• 16:04
  Speaker 2: about the debts that you currently have and how you
• 16:07
  Speaker 2: guys feel about them.
• 16:08
  Speaker 5: Personal debt is only we only have our mortgage. Business wise,
• 16:12
  Speaker 5: company wise, we have obviously a lot between vehicle lines,
• 16:16
  Speaker 5: mostly vehicles actually, and some furniture loans. But yeah, besides that,
• 16:22
  Speaker 5: our loans are obviously a lot bigger now because you know,
• 16:25
  Speaker 5: when you have multiple trucks and vehicles, those loans are
• 16:28
  Speaker 5: not cheap to come by.
• 16:29
  Speaker 2: The Yeah, because we're not. Just to be clear for
• 16:31
  Speaker 2: everybody playing along at home, you didn't go out and
• 16:33
  Speaker 2: by yourself a ferrari. We're talking about vehicles to transport
• 16:37
  Speaker 2: furniture for your business, am I right? Yes, that's yeah,
• 16:41
  Speaker 2: because some small business owners have a luxury vehicle inside
• 16:44
  Speaker 2: their business.
• 16:45
  Speaker 4: Yes.
• 16:45
  Speaker 5: And I'm very well aware because he did also sell
• 16:48
  Speaker 5: a sports cub when we got into I'm very well
• 16:51
  Speaker 5: aware and reminded very regularly that I owe him both
• 16:54
  Speaker 5: a boat and a sports car.
• 16:56
  Speaker 2: Okay, yeah, I mean they're both very good goals, so
• 16:59
  Speaker 2: I'm thinking big yeah.
• 17:01
  Speaker 4: Absolutely so.
• 17:02
  Speaker 5: No, we haven't treated ourselves to any kind of luxury
• 17:06
  Speaker 5: things at this point. Even our house is although it's renovated,
• 17:11
  Speaker 5: we did have kept one of our renovation projects.
• 17:13
  Speaker 2: No, I love that. I think it's important.
• 17:16
  Speaker 4: Yeah, so it is. Apart from those loans. We try
• 17:19
  Speaker 4: not to.
• 17:20
  Speaker 5: We try, but if we're going to get into debt
• 17:22
  Speaker 5: for something, that it is for something that's going to
• 17:24
  Speaker 5: work towards achieving our long term goals financially. And I
• 17:28
  Speaker 5: think that that his mindset now he can really see
• 17:31
  Speaker 5: the power of that. I know that when we did
• 17:34
  Speaker 5: first start in the business, we were using a lot
• 17:37
  Speaker 5: of the business's cash, so reinvesting a lot of the
• 17:40
  Speaker 5: cash because we couldn't get loans.
• 17:42
  Speaker 4: Yeah.
• 17:42
  Speaker 2: Absolutely, You've got to prove yourself in a way. That's
• 17:45
  Speaker 2: the hardest period of business, right where you're like, I
• 17:47
  Speaker 2: have no track record, but I promise I'm good at
• 17:50
  Speaker 2: what I do.
• 17:52
  Speaker 5: That's right, And it's hard to particularly with the loans
• 17:55
  Speaker 5: that we have. They're not just regular like it feels
• 17:58
  Speaker 5: that you have to really tell people. But you know,
• 18:01
  Speaker 5: we want furniture, but this is what it does, and.
• 18:03
  Speaker 2: Yeah, it's actually an asset for our business in the
• 18:06
  Speaker 2: same way like a beauty therapist would buy a laser machine.
• 18:08
  Speaker 2: We need to actually look at this and what even
• 18:10
  Speaker 2: like depreciation on these pieces of furniture looks like. So
• 18:14
  Speaker 2: I'm assuming that there are a lot of spreadsheets.
• 18:16
  Speaker 5: There's a lot of spreadsheets, and we both really enjoy them,
• 18:20
  Speaker 5: and he actually is extremely good at spreadsheets, thank goodness.
• 18:23
  Speaker 5: But yes, there's a lot of debt there, but it
• 18:26
  Speaker 5: works for the business.
• 18:27
  Speaker 2: Yeah, awesome.
• 18:28
  Speaker 5: Yeah, so it's been a very interesting journey, I suppose
• 18:31
  Speaker 5: from that mindset totally.
• 18:33
  Speaker 2: So talk to me about what you think your best
• 18:35
  Speaker 2: money habit is.
• 18:36
  Speaker 5: My best money habit would be saving I always put
• 18:39
  Speaker 5: money aside of my personal gym habits my personal care,
• 18:43
  Speaker 5: my personal development. So I'm very good at that, and yeah,
• 18:48
  Speaker 5: I think that that's really paid off.
• 18:49
  Speaker 2: I adore that. So tell me on the flip side,
• 18:51
  Speaker 2: what do you think your worst money habit is the same?
• 18:57
  Speaker 4: The same.
• 18:58
  Speaker 5: I think that I'm such a good save us sometimes
• 19:00
  Speaker 5: and I focus so much on saving that I forget.
• 19:02
  Speaker 4: To maybe reward myself with my own money.
• 19:06
  Speaker 2: I mean, that's not the worst thing in the entire world.
• 19:08
  Speaker 2: But at the start of this episode you did say, look, bet,
• 19:11
  Speaker 2: I reckon my money story and like my money grade
• 19:14
  Speaker 2: is a C. But then you're like, oh, I've flipped properties,
• 19:17
  Speaker 2: Like we really are responsible with our income, Like you know,
• 19:20
  Speaker 2: we pay ourselves well because the business is doing well,
• 19:23
  Speaker 2: but like I mean, we don't take a lot of
• 19:25
  Speaker 2: profit out and this is how we're reinvesting, and this
• 19:27
  Speaker 2: is how we're thinking of like investing into the business.
• 19:30
  Speaker 2: Like you want to talk about commercial real estate and
• 19:32
  Speaker 2: maybe we'll get back into like flipping properties ourselves. Gol,
• 19:36
  Speaker 2: what are you talking about? C And then you're like
• 19:38
  Speaker 2: really good at saving, and then also your worst habit
• 19:40
  Speaker 2: is saving, Like how are you a seat? Please tell me?
• 19:43
  Speaker 2: Look when you put it like that I'm like, hold on,
• 19:46
  Speaker 2: hold on, hold on, Like the story's not checking out.
• 19:52
  Speaker 4: We could upgrade that to a B.
• 19:53
  Speaker 2: Perhaps, Yeah, Like, I mean that's fair, But why are
• 19:56
  Speaker 2: you being so harsh on yourself? Is the real question here?
• 20:00
  Speaker 5: Sure, there's this always something that you can learn, especially
• 20:03
  Speaker 5: with money, we're really not educated with, like what are
• 20:05
  Speaker 5: the best decisions for multiple scenarios? I don't think so,
• 20:09
  Speaker 5: even as an adult with so many different opinions, you know,
• 20:14
  Speaker 5: it's hard to really be confident that you know what
• 20:17
  Speaker 5: you're doing is the best for what you've got there.
• 20:20
  Speaker 2: Yeah, totally.
• 20:21
  Speaker 4: Yeah.
• 20:22
  Speaker 5: I think just being like open to having all of
• 20:25
  Speaker 5: those different things sometimes can make me be a little
• 20:28
  Speaker 5: bit harsh on how and grading myself.
• 20:30
  Speaker 2: I feel like the more successful people get, the harsher
• 20:33
  Speaker 2: they are on themselves because they're like, oh, like I
• 20:36
  Speaker 2: didn't know this, and I thought I was good, and
• 20:37
  Speaker 2: then like two years later you're like, oh, my goodness,
• 20:40
  Speaker 2: like what else don't I know? So I feel like
• 20:42
  Speaker 2: it kind of makes sense if you went back in time,
• 20:46
  Speaker 2: what is one piece of advice that you wish, like
• 20:48
  Speaker 2: younger you had when you were starting your property styling business.
• 20:52
  Speaker 5: Younger me had probably would have been to be okay
• 20:58
  Speaker 5: with failing forward.
• 21:00
  Speaker 4: Just lean into that, lean into that little bit more
• 21:02
  Speaker 4: earlier on.
• 21:03
  Speaker 2: Yeah, fair, fair, be it with money.
• 21:06
  Speaker 5: And other business decisions, and just kind of laugh in general.
• 21:11
  Speaker 5: Just be really comfortable with that failing forward and don't
• 21:14
  Speaker 5: let it get you down so much when it does happen.
• 21:16
  Speaker 2: I feel like that's the hardest thing though, Like we
• 21:18
  Speaker 2: all don't want to fail, but if you don't fail,
• 21:21
  Speaker 2: you don't learn, and if you don't learn, you don't grow,
• 21:23
  Speaker 2: and that's like the worst outcome.
• 21:27
  Speaker 4: Absolutely, it's worse than the failure in itself.
• 21:30
  Speaker 2: Right exactly. Oh my goodness, I wish we had so
• 21:32
  Speaker 2: much more time because this has been so fun. But
• 21:35
  Speaker 2: thank you so much for doing a money story. It
• 21:37
  Speaker 2: has been an absolute delight getting to know you and
• 21:40
  Speaker 2: your business and what's going on, because I feel like
• 21:42
  Speaker 2: we've all learned a lot from it. So thank you.
• 21:45
  Speaker 4: You're very welcome. Thank you so much for listening to me.
• 21:53
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• 21:56
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