00:00:00Exploring Property Investment With Synergy
00:11:03Property Investment Strategy and Support
00:19:58Unlocking Property Investment Finance Secrets
00:29:29Creating Wealth Through Property Investment
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Ever wondered how to achieve financial freedom through property investment? Join us as we sit down with David Chehade, the visionary behind a national property investment group, who reveals the secrets to creating wealth and security for families, especially those with businesses. Discover the innovative strategy of rentvesting and learn how leveraging your existing home equity can open doors to investment opportunities you never thought possible. David addresses common misconceptions and offers guidance on navigating real estate with confidence and clarity.
Understanding the intricacies of property investment is crucial, and this episode provides valuable insights into strategic financial structuring.
In this Episode we discover:
- The advantages of engaging with specialised mortgage brokers over traditional banks
- Highlighting the importance of having a clear, long-term financial goal. By untangling your finances and structuring them correctly, you can maintain control and flexibility, ensuring your investment portfolio thrives.
This compelling conversation illuminates how strategic planning and the right support can guide you toward financial freedom.
Be inspired by the remarkable journey of Dave, who embarked on his property investment path at just 19 and achieved significant net worth by 37. His story is a testament to the power of hard work, goal-setting, and persistence in the face of challenges, particularly for self-employed individuals navigating loan approvals.
As we wrap up, we emphasise a solution-oriented mindset as a catalyst for wealth creation and encourage our listeners to explore opportunities in property investment. Don't miss the chance to learn from seasoned experts and take proactive steps toward securing your financial future.
Connect with Dave:
@reifinance
@davidchehade
Connect with us:
Instagram https://www.instagram.com/as_one_global/?hl=en
Facebook https://www.facebook.com/profile.php?id=100063829082364
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WEBVTT
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One, two, three, four.
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Welcome to Synergy, the podcast where we uncover the secrets to successful relationships, effective leadership and transformative parenting.
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I'm your host, Alicia.
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And I'm Dan, and we'll deep dive into relationships, friendships and, most importantly, the relationship we have with ourselves.
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Together, we'll explore different strategies, techniques and approaches that can help you achieve synergy in every aspect of your life.
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Stay curious, keep learning and embrace the power of synergy.
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Welcome to another episode of Synergy where we get to interview business owners about their journey and what they're doing, and I'm absolutely pumped for this one today.
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Same.
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I can't wait.
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We've got David Shahady with us.
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Owner of.
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Actually, we'll get you to introduce yourself, if that's okay, dave.
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What's your business called?
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Please tell everyone.
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Awesome.
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Thank you guys for having me, david Shahady, at Businesses Real Estate Investment Finance.
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We're a national property investment group.
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We help investors end-to-end build wealth through property.
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Love that, love that.
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Now, the reason I wanted you on the podcast is because one of our biggest things to helping families is to create freedom, flexibility and finance.
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So, in terms of the finance, well, I think that's similar to your values or your purpose for your business.
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Am I correct?
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Definitely, yeah.
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It's about empowering financial freedom and, you know, getting people out of their train of thought and everyday you know thinking of, you know being in the rut and you know a lot of people don't know any different and they just sort of, you know, work, generate an income, sort of get by, but then, you know, don't really think about what that end goal is to be able to have that freedom.
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I love that.
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And when I think about our journey with property you've helped us with that, thank you and I think about that and I think about how much information is that we found that I was like it's actually not that difficult and in like for business owners.
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Can I just go on to say I think it's extremely difficult to the uneducated person that doesn't have the right guidance or coach or support for going on that journey.
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And I think you know, for the average family dealing with the purchase of their first investment property, you know it's a significant commitment.
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What's the thing that you see, dave, that holds people back from buying their first property?
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It's exactly the confusion around where to start.
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So you know a lot of people will be like look, yeah, it's a good idea.
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Should I be investing?
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Yeah, I heard I should.
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Where do I start?
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Can I invest?
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And there is a lot, you know, of steps to it.
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Even though it is simple, when you put it all together, it can be confusing because you know australia is a big place and where a lot of people may assume and and they'll fall into the trap of and is you know they'll go to the bank that they might bank with and they've got a bank account there because you know at that a dollar might account at commonwealth when they were three years exactly, and they all got to go to my banker and get finance.
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And they go to the bank and they're like, hey, look, I got this idea.
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I might want to invest in a property, can you lend me the money to buy a property?
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And the bank's going to typically say, you know, based on their parameters, yes or no, and it's as far as they would think that they should go.
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And then it's like, where do I buy?
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What can I buy?
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And typically they're looking at their backyard.
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It's what's the house next door, someone for what's the house up the street?
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Because they're familiar with it, you know, and it's the concept of well, if I can see it, you know, I feel safe and comfortable, and a lot of people go to that extent when it comes to investing.
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And the bank might say, look, no, we're not going to lend you the money.
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And it's like, okay, well, I can't do it.
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Or they might be able to get access to the finance, you know, to that level and stops about there.
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But there's a bigger market, there's, it is a better way to do it.
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Um, you know, and it starts with really getting that advice and being able to, you know, have the right people around you that can help you think bigger and think outside the box and work out.
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You know what the right strategy is going to be for your goals yeah, there's so many questions I have that I want to ask, so we're speaking predominantly to families with businesses.
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Yes, so if you were to so, what types of investing is there?
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So, in terms of property, so we're doing the rent investing scenario.
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Yes, what other types of property investing is there, so can you speak to?
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that a little bit.
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Yeah, for sure.
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So I mean, rent investing is a popular strategy in terms of rent where you want to live, rather than go out and buy the house where you want to live and put your money and your savings into something that's going to actually grow for you and give you the best returns.
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And the other strategy which you know a lot of people fall into the way of just buying their dream home, which is great, there's nothing wrong with that either, but it's being able to then leverage that to be able to invest into property.
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And a lot of people may think, look, I've got a home, but to buy an investment, how am I going to come up with the funds to do that?
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But it's really being able to look at the property that they currently own and be able to tap into that to be able to leverage it so you can borrow 100% of the property's purchase by being able to utilize the equity in the home they've already got and be able to use the bank's money to be able to invest in and get into a property.
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So, look, a lot of business owners.
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They've bought a home, they're paying the mortgage off, they're working on building the business and generating revenue, but they're sitting on what we call lazy equity.
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There's this whole untapped equity sitting there that could be worth them for them while they're doing what they're doing by utilizing that and investing it without them having to go and use and pull money out of their business that they might have, or out of their own war chest or out of their own.
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So if somebody's in that situation, right, they've got a bunch of equity sitting in their family home that they're living in and they're thinking about going on an investment journey and they've got some savings.
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Does going into tapping into the equity and buying that investment property potentially threaten their lifestyle, based on what they're currently spending before doing that?
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No, so it's no impact, because sitting on the equity in the house right now they'll have a mortgage typically and they'll be paying the mortgage off tapping into that.
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We always treat it separately, so it's a separate facility that's linked against the house and it's a separate loan there that we're utilizing to invest, and the investment property then is what the income against that goes towards funding that and it goes towards funding the new purchase.
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So from a a lifestyle perspective, it's treated separately in that investing, depending on what we're looking at purchasing, it's going to require being able to fund a gap in terms of what revenue comes in being the rent from the property versus the outflow of the cost.
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So we're going to have the biggest expense being interest that we're going to pay the bank for access to the finance, and the finance is structured really based on utilising that equity in the home plus borrowing against the new purchase.
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Then there's the costs of property management.
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You've got insurance, you've got rate.
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So typically, you know, at the moment we're seeing very high demand for rentals in the right areas.
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So we're seeing rental increases go up significantly month in, month out.
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But you know, typically a property could cost an investor, call it $200 a week to be able to hold that investment property.
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So as long as the cash flow surplus is there to fund that, you know, at this stage where the current market's out with rates which we're sitting at what I'd say is a peak, you know we're really all signs are pointing towards next year seeing it drop in interest rates.
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You know we're really all signs are pointing towards next year seeing it drop in interest rates.
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When you look at that model of like it's going to cost 200 bucks, say, to go into that next property.
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When you scale that further and have more and more properties and you're talking about somebody that's on a fixed income, is there a glass ceiling that they hit where it's like, okay, well, you just can't possibly get any more because you can't essentially save enough money to maintain the property.
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Is that a reality for some people?
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That is a reality In the current market now, with the rates, the way they are, depending on certain fixed income, there's going to be ability to have surplus funds to be able to invest and once you get depending on what that is, you'll hit a ceiling potentially, and it may be a matter of then going okay, let's, we're gonna have to sit this out.
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Now you know we've been able to buy one, two, three, four, depending on your situation, and now it's a matter of just waiting and having the right team there and you know, specifically, like a good broker that understands your situation, your position, your income, who can just do those check-ins, which is super important.
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So so, like every six months, how is your situation going?
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Where are you at right now?
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Because things change, your situation changes, your income may change.
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Same with a business owner, right?
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I guess their planning of an aggressive strategy may be hindered by business performance or economic climate that then inhibits their ability to acquire properties.
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Yeah, at what they were they were planning at right spot on and then that will change year on, year out, month in, month out, you know, and we say like sorry, can I just ask a question on that?
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Would you advise business owners that when they are doing well and are banking a lot of cash and their their business is producing, that they go aggressive into property and really push the limits?
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I would advise that, yeah, so the more property you can have and that you can sit on, the more you can hold, the more you're going to see your wealth accelerate over the future.
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So while you can get access to finance as a business owner, you'd want to be able to get it while you can all the time have it and have the money working for you in the marketplace.
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So, yeah, highly, highly, always recommend that.
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And when it comes to self-employed and access and finance, the banks are looking at financials, but there's some cool new strategies that have come out recently, which is super exciting.
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Can?
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we talk about that we can definitely talk about that.
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What are these called strategies?
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It appears to me like if you go straight to a bank and try and get finance, that you may be fronted with a no and you're not really dealing with somebody that's on your team 100%.
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They're looking at their black and white.
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What they can and can't do, it's very limited, but being able to go to a really really good investment broker and I say an investment broker because you don't want to go to any mortgage broker, because not every mortgage broker understands how to structure you up.
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So can we talk about the different, the distinct difference between a mortgage broker and an investment broker.
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And it's really just a mortgage broker that knows investment properties.
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They specialise in that space and you know a normal mortgage broker who just funds finances across the board.
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You know and typically works with your home buyer and funding their dream home purchase is an experience when it comes to how do you structure someone's finances taking into account the big goal and a lot of them won't talk to you about that, but it's like what's important is I want to hear from you that you want X amount of passive income in X amount of years and a good mortgage broker that specializes in investment properties, that believes in investment properties, that invests themselves super important, they actually do that themselves and they're giving you advice and helping you.
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Knowing that they believe in what they do and they're specialists in that field it makes a massive difference because one massive error and there's a few a broker will just do one application to fund an investment property and they'll cross-collateralise all the securities and the banks love that.
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And if you go directly to a bank as well, can you just for the people that don't understand what that is?
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explain.
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And if you go directly to a bank as well, can you just, for the people that don't understand what that is, explain what that is?
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Yeah, sure.
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So if you look at it this way, seek great business owners terms, yeah, yeah.
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So you look at it this way like the bank's always happy to give you finance when it comes to buying a property, because they know they've got your house there and they know that if you can't pay it, a house up to 90, 95 percent of that, which means in their eyes they're like hey, we're happy to give you that much because we know the property is going to be worth be worth it.
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We don't.
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We believe in the property market.
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The banks back it and I'm going off track a little bit here, but it's relevant.
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You know, if you and I'll make a point here like, if you go out and buy shares, they won't give you 195 percent lending.
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Yeah, you know you'll be lucky to get a 50 percent margin because it can fluctuate.
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But property's sold and it's secure and it's performed very well over the years and it's a proven wealth generation tool.
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The banks are willing to back it.
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But, on that note, they're willing to give you a high percentage of the property.
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But you, they, need to have some skin in the game, and it's not much, but it's some.
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So let's call it 10.
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Now that can come from equity, but what the banks can do is they'll say to you look, I'm happy to fund.
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Let's say, you bought a million dollar investment property.
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I'm happy to fund that in full for you because I've got your house.
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That's worth a million dollars.
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Now you owe 500 on the house.
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There's 500,000 sitting in it.
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I'm just going to use that security to fund this one Big no-no, right, okay, right, okay.
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So then they've tangled you up.
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Now the banks love it.
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Now a mortgage broker that doesn't specialize in this.
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It's easy for him to or her, because they'll just do one application for you and they'll get you all the finance, less paperwork, still get their commissions correct, whereas a right mortgage broker will go hang on a second.
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We need to structure this properly.
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It's two applications we go to lender a and we lender A.
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We would like to utilize our equity to invest.
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You're not touching the purchase, you don't need to.
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We just want our equity out Now.
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Not every lender does this, so you need to also know which lenders have an appetite for you as a business owner in accessing finance and accessing your equity, because every lender is going to have a different appetite and different approach when it comes to self-employed and being able to give you equity, so the right broker there knows and they'll structure you up right.
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And having that right structure sets your foundation to be able to build a multi-million dollar property portfolio.
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So it's super important.
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A lot of people get it wrong, and not because because they don't earn any different.
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Yeah, a lot of people go to the branch and the branch they're not going to tell you we're going to do a separate application for you.
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Yeah, well, they're going to protect themselves.
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Banks want security and they'll take as much as they can.
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Yeah, and you know we come across investors that have come to us and they've got five properties and they've been, you know, able to create businesses, make them good money.
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They've gone to their business banker, they're funded them.
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Business bankers got their interests at heart, tied everything up.
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Yeah, and it's just untangle it, restructure it.
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Super important to be able to just be able to keep going, build that portfolio, keep tapping back in and make sure that it's structured to give you the best flexibility, you the most controlled not the banks and set you up for the future.
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And that's super important.
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And that's the difference really of going to the right broker that knows investing, that's got your best interest at heart, not someone that's going to be lazy to do an application or go to the bank that that's got your best interest at heart.
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Not someone that's going to be lazy to do an application or go to the bank that's protecting themselves.
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It's super important that big picture is taken into account.
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Yeah, can we talk?
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About the big picture a little bit, Because I definitely want to reiterate that generally this is a long game right, yes, 100% so yeah, can you speak on that?
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when you have a customer, yeah, because you mentioned before about depending on what the big goal is, and I remember this conversation with you when Leisha and I went on the journey with you, and at that point I was like I don't know what the big goal is.
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I just know that investing in property is a good thing to do and, yeah, what?
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What is the?
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How have you supported clients to tease out what?
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What is that goal?
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That then you have a strategy to support?
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Definitely, yep, and it all comes back down to like what do you want in income?
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Because we talk about financial freedom, when we talk about generating an income stream there to give you choices, be able to get up, do what you want, have that additional revenue stream.
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You may love doing what you do in your business.
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You want to keep having it there.
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It's just another revenue stream that can also work for you while you're building your business up.
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And it's like what does that need to look like?
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Without knowing that, we don't know where we're heading.
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So we need to know what that end game is and we might find like you might be 30 years old, let's say, and your goal is by 50, you want to have $200,000 a year coming in out of your property portfolio.
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Now we've got something to work towards and it's like do you mean like, um, passive income?
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Passive income and let's say that was an example we know now we've got 20 years as a time frame to generate portfolio.
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That's giving us 200 grand.
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Now, to generate 200 grand, if I was getting a five percent return, I'd need four million dollars in property.
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So great, now I know I've got a goal I need to buy $4 million in property over the next 20 years.
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I need to have $4 million of property generating me a revenue stream over the next 20 years.
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So it just starts with knowing what that is, reverse engineering it and there's no straight line map to get there because things change and what we touched on earlier it's like what's going to happen in my business, how's?
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it going to perform?
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Am I going to have a really good year?
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If I am, can I double down, yeah, and get like four or five in yeah?
00:16:12.695 --> 00:16:16.254
Yeah, and then revisit the long game and what that looks like.
00:16:16.254 --> 00:16:24.668
So maybe we've gone a bit too low and business is doing better than we expected and we can go a bit more Perfect and I guess the big ultimate goal is in business.
00:16:25.149 --> 00:16:32.315
It's generating also those revenue streams and diversifying and it's not having all your wealth put in the one spot.
00:16:32.315 --> 00:16:34.777
It's not having all your money feeding into the business.
00:16:34.777 --> 00:16:49.096
In saying that it's important that you do fill your business to generate you the cash flow back out, but it's being able to diversify, that when you do have that ability to be able to invest, that you're doing that on the side while you're you growing your business and why are you working on that?
00:16:49.524 --> 00:16:51.091
So you've got another revenue stream there?
00:16:51.091 --> 00:16:53.133
You're building wealth for the future.
00:16:53.133 --> 00:16:54.998
You're building legacy.
00:16:54.998 --> 00:16:57.352
You're building properties that pass down to your children.
00:16:57.693 --> 00:17:20.535
Yeah, I think the thing that really drew us to you guys is all we need to focus on is generating money in our business and growing our businesses, because you guys handle the rest yeah, and I think for business owners, it's like the more you can keep things simple and like narrow the, the focus so that they can have depth, that's like all right.
00:17:20.976 --> 00:17:23.387
I remember the, the conversation with you guys.
00:17:23.387 --> 00:17:39.278
It was like these are the numbers that you need to hit in order to support the goal that you want to achieve, and for me that was just like all right, cool, I don't need to worry about the brokering side, the bank side, picking the property side, the rental side, the insurance side.
00:17:39.278 --> 00:17:47.884
It's literally like these are the numbers that are in my control and then, when they get hit, then I can pull the trigger and deploy the next part of the journey.
00:17:47.884 --> 00:17:50.188
When they get hit, then I can pull the trigger and deploy the next part of the journey.
00:17:50.188 --> 00:18:08.319
And I have to say as well, going on the journey, the process and even the documentation and the contracts and like you literally get your hand held the whole way through the process and the team are incredible that you can keep focusing on your business without it, with the investment journey becoming a distraction.
00:18:13.164 --> 00:18:13.949
Because I know that can be like I.
00:18:13.949 --> 00:18:14.673
I know for me that was a big thing.
00:18:14.673 --> 00:18:25.210
I'm like, well, if we're going to invest in all these properties, because we planned on doing this even prior to meeting you, dave yes, and it was like the maintenance on all of those things and having to make sure that it's rented and all of that sort of stuff I'm just like what.
00:18:25.210 --> 00:18:28.013
I cannot be bothered with any of that of that.
00:18:28.013 --> 00:18:31.900
And then when you guys do the full package, I was like epic.
00:18:32.384 --> 00:18:34.152
Yeah, and there's so much involved there.
00:18:34.231 --> 00:18:34.574
Yeah.
00:18:34.785 --> 00:18:40.712
But we've really deployed resources into making sure we've got an expert in every field that can hold a hand.
00:18:40.712 --> 00:18:47.851
And it's a journey from start to finish and having the right people on your team being able to help guide you through the process just makes it so good.
00:18:47.851 --> 00:18:51.102
So Having the right people on your team being able to help guide you through the process.
00:18:51.122 --> 00:18:51.824
This makes it easier.
00:18:51.824 --> 00:18:59.263
So, yeah, so if we were talking to a business owner who their business is generating money, good money, they got money sitting there and they're not they're kind of just not really sure what to do with it.
00:18:59.263 --> 00:19:03.334
Yeah, how much do you suggest if you were just to put out a figure?
00:19:03.354 --> 00:19:17.259
I know it's going to be different for everybody yeah, but if there was like a figure that people were wondering how much you would need to start like, what would that figure be If you didn't already have a house and you just have cash?
00:19:17.278 --> 00:19:18.623
in the bank, the magic number would be $100,000.
00:19:18.623 --> 00:19:21.857
So typically the lenders will give you 90% when it comes to investing.
00:19:21.857 --> 00:19:23.244
So you'd want to come up with 10%.
00:19:23.244 --> 00:19:24.326
Then there's some costs.
00:19:24.326 --> 00:19:29.397
So if you were to use a $700,000 entry price point, it's $70,000.
00:19:29.397 --> 00:19:32.250
Then you'd have some stamp duty and you'd have some solicitor fees.
00:19:32.250 --> 00:19:34.532
So on top of that you'd wanna have a bit of a buffer.
00:19:34.532 --> 00:19:41.542
So we always encourage, always make sure you've got money put aside as a buffer and sleep at night for every property that you buy.
00:19:41.542 --> 00:19:44.199
Yeah, and it's a mini wall chest for the investment property.
00:19:44.199 --> 00:19:46.430
Yeah, um, so that you've got that safety net there.
00:19:46.430 --> 00:19:57.959
Yeah, so the hundred thousand sort of the entry level price point that gets you in the market on a good investment property in a good location that you can set and forget and know it's going to do its thing and help you get to your world creation yeah there's um.
00:19:58.059 --> 00:19:59.221
There's one thing I want to touch on.
00:19:59.221 --> 00:20:06.824
One of the the big things for me whenever I do business with somebody is credibility, and I know Dave is the real deal.
00:20:06.824 --> 00:20:10.526
So, dave, I'm going to throw some questions at you here.
00:20:10.526 --> 00:20:14.605
Could you tell me how old were you when you bought your first property?
00:20:14.605 --> 00:20:16.402
First property was 19.
00:20:16.402 --> 00:20:18.566
And how old are you now?
00:20:18.566 --> 00:20:19.555
I'm now 37.
00:20:19.555 --> 00:20:22.885
And can I ask how many properties do you have personally?
00:20:22.885 --> 00:20:25.156
Total net worth is 20 million now.
00:20:25.999 --> 00:20:29.465
But that's combined with property and other asset classes.
00:20:29.465 --> 00:20:32.960
But property wise, we'll be sitting on around about 12 at the moment.
00:20:32.960 --> 00:20:35.246
Amazing, that is inspiring.
00:20:35.326 --> 00:20:36.416
I just want to pre-frame.
00:20:36.416 --> 00:20:39.505
He's 37 and could retire today if he wanted to.
00:20:39.724 --> 00:20:44.336
Definitely yeah yeah and that's the inspiring and that's um, you know, 19.
00:20:44.336 --> 00:20:46.541
You know I knew from like 15.
00:20:46.541 --> 00:20:49.147
I wanted to, you know, get in the property I wanted to invest.
00:20:49.147 --> 00:20:56.400
You know I grew up with a dad that retired at 33, never worked a day since, and you know it gives me goosebumps every time I say that and I hear that.
00:20:56.400 --> 00:21:02.039
Sorry, but I do want to mention like and we've discussed this before like that that came.
00:21:02.221 --> 00:21:12.375
Your journey came in a compromise as a 20-year-old from a social life perspective, and you know you're really reaping the benefits of that compromise now.
00:21:12.375 --> 00:21:20.288
So what would you say to young people that are, you know, 18, 22 in that area and inspired by property?
00:21:20.288 --> 00:21:30.921
What would your advice be to them when they've got their mates on one hand saying, come out, let's go out, have a good time, and they've got that inner voice about knowing that they want to build an epic life like you have.
00:21:30.921 --> 00:21:33.604
What's some piece of advice that you would give that individual?
00:21:33.604 --> 00:21:42.196
Work hard, know your goals, know what you want, get the right advice around what you need to get it and don't stop until you get it.
00:21:42.196 --> 00:21:46.382
And really that hard work piece can't be underestimated when you're kicking off.
00:21:47.343 --> 00:21:48.242
I had five jobs.
00:21:48.242 --> 00:21:49.704
I was delivering pizzas every night.
00:21:49.704 --> 00:21:50.905
I did whatever it took.
00:21:50.905 --> 00:21:53.008
I was working picking hydroponic tomatoes.
00:21:53.008 --> 00:21:56.271
On a Sunday I was collecting mail on a different job.
00:21:56.271 --> 00:22:02.750
I did what it took to be able to know what I needed to come up with to work towards reaching that goal.
00:22:02.750 --> 00:22:08.227
I still had fun where I could, but the priority was hard work, saving, hitting the goal.
00:22:08.694 --> 00:22:09.798
And what was the drive?
00:22:09.798 --> 00:22:15.181
Well, not was is Like what's the drive, especially specifically if we're talking about when you were 19?
00:22:15.181 --> 00:22:18.414
Because not a lot of 19-year-olds would be like you know.
00:22:18.414 --> 00:22:19.056
That's the goal.
00:22:19.056 --> 00:22:22.461
Was it seeing your dad retiring so early?
00:22:22.902 --> 00:22:26.968
Yeah, it was seeing dad, like you know, going's the goal Was it seeing your dad retiring so early?
00:22:26.968 --> 00:22:30.913
Yeah, it was seeing dad, like you know, going to school and saying, okay, why is dad able to sit at home?
00:22:30.913 --> 00:22:33.297
Why is, you know, my friend's parents, you know they're working out.
00:22:33.297 --> 00:22:34.097
What's the difference here?
00:22:34.097 --> 00:22:35.538
What's he done that they're not doing?
00:22:35.538 --> 00:22:45.932
You know, and it was I want to be able to do that, but I want to learn what he's done and I was super passionate from a young age to really want to help as many people as I could, you know, be able to achieve that, because I could see it was possible.
00:22:45.932 --> 00:23:00.080
And dad came to Australia at 23 with nothing and started off with nothing and ran a business for 10 years and had a grocery store in Melbourne and, you know, and the business wasn't going gangbusters, it was just a typical small business, you know.
00:23:00.080 --> 00:23:07.075
And mom and dad both worked really hard, you know, running the business every day, but on the side they invested and they, you know they invested.
00:23:07.075 --> 00:23:08.547
They're in commercial as well, aren't they?
00:23:08.694 --> 00:23:09.558
Commercial as well.
00:23:09.558 --> 00:23:10.416
Yeah, and kept on.
00:23:10.416 --> 00:23:19.916
You know replicating, but the magic of property in 10 years you can achieve a lot and you know people can say, look back in those days, you know, but still in these days there's opportunity.
00:23:19.916 --> 00:23:20.817
Still in these days there's opportunity.
00:23:20.817 --> 00:23:24.259
It's just getting yourself in a position to make the most of it and taking action.
00:23:24.259 --> 00:23:37.247
Yeah, there's one saying I think we'll leave our listeners with that I heard a long time ago about property it's not timing the market, it's timing the market One of my favorite sayings.
00:23:37.247 --> 00:23:38.027
Absolutely love it.
00:23:38.027 --> 00:23:40.167
Yeah, Dave, this has been incredible.
00:23:40.167 --> 00:23:43.029
Thank you so much for spending the time and sharing your story.
00:23:43.029 --> 00:23:48.833
And, yeah, for anyone that wants to reach out to Dave about property investing, where can they find you?
00:23:48.833 --> 00:23:51.042
Yep, so the business is Real Estate Investment Finance.
00:23:51.042 --> 00:23:55.707
So, yeah, if you jump on the website there and you'll be able to fill in a contact form and reach out.
00:23:55.707 --> 00:24:02.846
But yeah, otherwise you'll find me on socials and, yeah, reach out and always happy to have a chat and help as many people as we can Love that.
00:24:02.846 --> 00:24:03.788
Thanks so much, Dave.
00:24:03.788 --> 00:24:05.069
Awesome, Thank you guys.
00:24:05.069 --> 00:24:06.181
See you Now.
00:24:06.201 --> 00:24:20.547
We've wrapped up the podcast and we've just been reflecting on it and there's a piece of content that is critical, that we're going to add and we're going to talk about how to get creative with finance and the golden ticket for the self-employed to invest.
00:24:20.547 --> 00:24:26.018
Dave tell us it's massive.
00:24:26.018 --> 00:24:32.125
Finance is the ticket to freedom, because being able to access that finance means you can leverage, and being able to leverage means you can build wealth by using the bank's money there.
00:24:32.125 --> 00:24:36.038
But traditionally it wasn't easy to get finance as a self-employed.
00:24:36.038 --> 00:24:36.881
It's crazy.
00:24:36.881 --> 00:24:43.246
And even now you could go out and get yourself a job and get one payslip and the bank will lend you money based on that one payslip.
00:24:43.246 --> 00:24:45.319
Now you could lose your job tomorrow.
00:24:45.319 --> 00:24:48.386
From the bank's perspective, they don't care.
00:24:48.386 --> 00:24:51.484
They'll give you the finance on day one in the job.
00:24:51.484 --> 00:25:00.897
Some lenders, a lot of major lenders, but you can be a business owner that's 20 years in business, had a little bit of a dip in your business performance and the banks will crucify you over it.
00:25:00.917 --> 00:25:02.339
Crazy, bizarre performance and the banks will crucify you.
00:25:02.339 --> 00:25:02.579
Yeah, crazy.
00:25:02.599 --> 00:25:03.000
Denied Bizarre.
00:25:03.000 --> 00:25:10.009
I think a business owner is in control more than someone that goes out and is on a wage.
00:25:10.009 --> 00:25:11.358
Yeah, but this is the.
00:25:11.358 --> 00:25:15.201
Don't ever try to make sense of the banks and how they operate because you'll drive yourself crazy.
00:25:15.201 --> 00:25:19.306
But a good mortgage broker will deal with all that and understand all that.
00:25:19.394 --> 00:25:29.184
But there has been some cool stuff that's come out lately and it is fresh over the last sort of six, 12 months where banks are becoming a little bit more flexible with self-employed, which is awesome news to be able to get the finance.
00:25:29.184 --> 00:25:45.421
So there's always different ways there, and one big strategy that they've implemented is they've got a simplified self-employed process now where if you're paying yourself a wage, they don't need to see how your business is performing.
00:25:45.421 --> 00:25:47.468
They will accept pay slips as a business owner taking a salary out of the business.
00:25:47.468 --> 00:25:53.249
Super cool because now it eliminates the having to show financials, touch returns, notice of assessments, not only over one year but two years.
00:25:53.249 --> 00:26:03.404
We can now just go straight in with pay slips and earning x amount of salary that you nominate as a business owner to pay yourself, is this, no matter how long you've been in business, correct?
00:26:03.555 --> 00:26:04.096
There is a little.
00:26:04.096 --> 00:26:13.883
The banks need you to be in business for two years as a rough guide, being self-employed, but this strategy, in terms of them being able to assess your income, is regardless of how long you've been in business.
00:26:13.974 --> 00:26:22.066
So what if you've been in business for two years, you haven't been pulling a wage, but you've been living out of your business, and then you switch it to paying yourself a wage?
00:26:22.066 --> 00:26:22.968
Does that?
00:26:23.067 --> 00:26:23.789
change anything.
00:26:23.789 --> 00:26:37.288
So a few different lenders have this little niche that's come out, and some of them will take as short as three months and others will want to see it over six months, so you can start at the out of forward plan Again, the right record.
00:26:37.288 --> 00:26:45.006
So this is what you're going to need to be doing and if you can show this sort of income, there's the ability to be able to access the finance that we need to be able to take that next step.
00:26:45.006 --> 00:26:46.407
There's other avenues too.
00:26:46.407 --> 00:26:59.421
There's low dock loans, where you don't have to show financials you pay a little bit more for that where you can get an accountant's letter on declaring what you own as a business owner, be able to access finance, which is another avenue, to not have to produce the financials and tax returns.
00:26:59.701 --> 00:27:04.990
And there's other little hacks when it comes to finance, too, and being able to continue to access more.
00:27:04.990 --> 00:27:14.402
If you buy property in a trust, there's lenders there that will disregard the debt when it comes to being able to borrow more funds, because they look at it like the trust can take care of the property.
00:27:14.402 --> 00:27:23.756
So you to buy another property, we can disregard what's happening in the trust, as long as a trust can manage its own commitment, they will disregard it.
00:27:23.756 --> 00:27:31.769
That's another cool little hack there to be able to continue to leverage and access finance, especially as you get to the point of owning three, four, five, six, seven more debt you have there.
00:27:31.769 --> 00:27:37.146
It's just another little avenue there to be able to continue to leverage and access more funds from the bank too.
00:27:37.454 --> 00:27:42.968
And obviously these are great strategies, but you need to be able to maintain the properties as well.
00:27:43.167 --> 00:27:46.214
these are great strategies, but you need to be able to maintain the properties as well.
00:27:46.214 --> 00:27:47.878
A hundred percent Exactly.
00:27:47.878 --> 00:27:49.744
And I think also, these strategies aren't going to be marketed outwardly right?
00:27:49.744 --> 00:27:50.266
Definitely not.
00:27:50.266 --> 00:27:57.323
It almost sounds like they're illegal, but they're not and they're not.
00:27:57.323 --> 00:28:13.690
And as a business owner, you know, I think, part of this, being in business, and there might be people that agree and disagree with this, but I know in my own journey there has been elements that's come from my schoolyard days of bending rules that I've taken into business.
00:28:13.690 --> 00:28:19.846
That has served me, and this just seems like another bending of a rule in order to move forward.
00:28:19.846 --> 00:28:26.942
It's about maximizing what's out there and being able to find the little loopholes, and you don't ever want to be doing anything.
00:28:26.942 --> 00:28:34.894
It's got to be all above board, but it's about how do we get around certain avenues depending on our situation.
00:28:34.894 --> 00:28:38.800
That's going to give us the ability to be able to get the finance that we need to go to the next step.
00:28:38.994 --> 00:28:41.799
Yeah, and that's the thing that I think you won't get.
00:28:41.799 --> 00:28:46.386
If you're doing it on your own, yes is you're not going to be, unless you're a full researcher.
00:28:46.386 --> 00:28:48.115
Do you even have access to this stuff?
00:28:48.115 --> 00:28:49.699
If you're on your own, I wouldn't imagine.
00:28:49.699 --> 00:28:53.748
Yeah, so reinforcing having someone in your team.
00:28:54.195 --> 00:28:56.362
Yeah, it specializes in that space.
00:28:56.362 --> 00:28:59.676
It knows how to get around things to help you get to your next, the next to your goal.
00:28:59.876 --> 00:29:08.989
Yeah, ultimately, yeah, so so super important one thing that Daniel and I have been really focusing on is the question of how can we, instead of why can't we?
00:29:08.989 --> 00:29:14.765
Or this thing that we kept getting stuck with was, like you know, we want to do this, but how?
00:29:14.765 --> 00:29:18.320
Whereas we want to really ask ourselves, like what are the?
00:29:18.320 --> 00:29:19.284
What are the options?
00:29:19.284 --> 00:29:21.881
And that's why we were having that conversation prior to this is like what are the options?
00:29:21.881 --> 00:29:24.209
And and that's why we were having that conversation prior to this it's like what are the options?
00:29:24.209 --> 00:29:24.368
And?
00:29:24.388 --> 00:29:28.884
asking the right questions to getting to the outcome, so that we are moving in the direction that we want to be moving.
00:29:29.045 --> 00:29:33.224
Amazing, just that changing mindset and thinking, you know, on the solutions.
00:29:33.224 --> 00:29:35.570
Super powerful, love that Awesome, all right.
00:29:35.631 --> 00:29:36.974
Well, we are actually going to wrap this up.
00:29:37.015 --> 00:29:38.441
We are going to wrap this up right now.
00:29:38.441 --> 00:29:49.038
That now, that is your golden ticket to property.
00:29:49.038 --> 00:29:49.840
If you are interested, reach out to Dave.
00:29:49.840 --> 00:29:51.045
There'll be a link on the podcast as well, yeah, in the note.
00:29:51.045 --> 00:29:53.634
But yeah, I really feel that moving your family forward and creating wealth beyond you, there are so many options out there.
00:29:53.634 --> 00:30:03.467
But if you're looking for something that has a growth trajectory that is linear and not all over the place and proven, definitely reach out and have a chat to Dave and his team.
00:30:03.467 --> 00:30:04.891
Thanks, guys, thanks for having me.
00:30:05.434 --> 00:30:07.442
We hope you enjoyed this episode of Synergy.
00:30:07.442 --> 00:30:09.280
We encourage you to hit the subscribe button.
00:30:09.280 --> 00:30:10.084
Rate and comment.
00:30:10.434 --> 00:30:15.544
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00:00:00.862 --> 00:00:02.329
One, two, three, four.
00:00:02.329 --> 00:00:10.826
Welcome to Synergy, the podcast where we uncover the secrets to successful relationships, effective leadership and transformative parenting.
00:00:10.826 --> 00:00:12.250
I'm your host, Alicia.
00:00:12.560 --> 00:00:18.105
And I'm Dan, and we'll deep dive into relationships, friendships and, most importantly, the relationship we have with ourselves.
00:00:18.105 --> 00:00:24.091
Together, we'll explore different strategies, techniques and approaches that can help you achieve synergy in every aspect of your life.
00:00:24.541 --> 00:00:27.650
Stay curious, keep learning and embrace the power of synergy.
00:00:37.901 --> 00:00:48.204
Welcome to another episode of Synergy where we get to interview business owners about their journey and what they're doing, and I'm absolutely pumped for this one today.
00:00:48.286 --> 00:00:48.746
Same.
00:00:48.746 --> 00:00:49.567
I can't wait.
00:00:49.567 --> 00:00:51.652
We've got David Shahady with us.
00:00:51.652 --> 00:00:52.621
Owner of.
00:00:52.621 --> 00:00:55.360
Actually, we'll get you to introduce yourself, if that's okay, dave.
00:00:55.360 --> 00:00:56.223
What's your business called?
00:00:56.223 --> 00:00:57.148
Please tell everyone.
00:00:57.560 --> 00:00:57.801
Awesome.
00:00:57.801 --> 00:01:01.881
Thank you guys for having me, david Shahady, at Businesses Real Estate Investment Finance.
00:01:01.881 --> 00:01:03.704
We're a national property investment group.
00:01:03.704 --> 00:01:06.111
We help investors end-to-end build wealth through property.
00:01:06.531 --> 00:01:07.373
Love that, love that.
00:01:07.373 --> 00:01:17.915
Now, the reason I wanted you on the podcast is because one of our biggest things to helping families is to create freedom, flexibility and finance.
00:01:17.915 --> 00:01:23.792
So, in terms of the finance, well, I think that's similar to your values or your purpose for your business.
00:01:23.792 --> 00:01:24.272
Am I correct?
00:01:24.272 --> 00:01:24.900
Definitely, yeah.
00:01:24.941 --> 00:01:43.210
It's about empowering financial freedom and, you know, getting people out of their train of thought and everyday you know thinking of, you know being in the rut and you know a lot of people don't know any different and they just sort of, you know, work, generate an income, sort of get by, but then, you know, don't really think about what that end goal is to be able to have that freedom.
00:01:43.590 --> 00:01:44.251
I love that.
00:01:44.251 --> 00:02:01.289
And when I think about our journey with property you've helped us with that, thank you and I think about that and I think about how much information is that we found that I was like it's actually not that difficult and in like for business owners.
00:02:01.640 --> 00:02:11.992
Can I just go on to say I think it's extremely difficult to the uneducated person that doesn't have the right guidance or coach or support for going on that journey.
00:02:11.992 --> 00:02:20.230
And I think you know, for the average family dealing with the purchase of their first investment property, you know it's a significant commitment.
00:02:20.230 --> 00:02:25.187
What's the thing that you see, dave, that holds people back from buying their first property?
00:02:25.187 --> 00:02:28.427
It's exactly the confusion around where to start.
00:02:28.427 --> 00:02:31.342
So you know a lot of people will be like look, yeah, it's a good idea.
00:02:31.342 --> 00:02:32.585
Should I be investing?
00:02:32.585 --> 00:02:33.687
Yeah, I heard I should.
00:02:33.967 --> 00:02:34.710
Where do I start?
00:02:34.710 --> 00:02:35.731
Can I invest?
00:02:35.731 --> 00:02:37.944
And there is a lot, you know, of steps to it.
00:02:37.944 --> 00:02:57.639
Even though it is simple, when you put it all together, it can be confusing because you know australia is a big place and where a lot of people may assume and and they'll fall into the trap of and is you know they'll go to the bank that they might bank with and they've got a bank account there because you know at that a dollar might account at commonwealth when they were three years exactly, and they all got to go to my banker and get finance.
00:02:57.960 --> 00:03:00.144
And they go to the bank and they're like, hey, look, I got this idea.
00:03:00.144 --> 00:03:03.169
I might want to invest in a property, can you lend me the money to buy a property?
00:03:03.169 --> 00:03:10.409
And the bank's going to typically say, you know, based on their parameters, yes or no, and it's as far as they would think that they should go.
00:03:10.409 --> 00:03:11.905
And then it's like, where do I buy?
00:03:11.905 --> 00:03:12.788
What can I buy?
00:03:12.788 --> 00:03:14.646
And typically they're looking at their backyard.
00:03:14.646 --> 00:03:18.361
It's what's the house next door, someone for what's the house up the street?
00:03:18.361 --> 00:03:27.913
Because they're familiar with it, you know, and it's the concept of well, if I can see it, you know, I feel safe and comfortable, and a lot of people go to that extent when it comes to investing.
00:03:27.954 --> 00:03:29.936
And the bank might say, look, no, we're not going to lend you the money.
00:03:29.936 --> 00:03:40.991
And it's like, okay, well, I can't do it.
00:03:40.991 --> 00:03:44.876
Or they might be able to get access to the finance, you know, to that level and stops about there.
00:03:44.876 --> 00:03:48.330
But there's a bigger market, there's, it is a better way to do it.
00:03:48.330 --> 00:03:57.948
Um, you know, and it starts with really getting that advice and being able to, you know, have the right people around you that can help you think bigger and think outside the box and work out.
00:03:58.168 --> 00:04:07.163
You know what the right strategy is going to be for your goals yeah, there's so many questions I have that I want to ask, so we're speaking predominantly to families with businesses.
00:04:07.163 --> 00:04:11.992
Yes, so if you were to so, what types of investing is there?
00:04:11.992 --> 00:04:16.709
So, in terms of property, so we're doing the rent investing scenario.
00:04:16.709 --> 00:04:21.908
Yes, what other types of property investing is there, so can you speak to?
00:04:21.947 --> 00:04:22.428
that a little bit.
00:04:22.428 --> 00:04:23.110
Yeah, for sure.
00:04:23.110 --> 00:04:34.785
So I mean, rent investing is a popular strategy in terms of rent where you want to live, rather than go out and buy the house where you want to live and put your money and your savings into something that's going to actually grow for you and give you the best returns.
00:04:34.785 --> 00:04:46.411
And the other strategy which you know a lot of people fall into the way of just buying their dream home, which is great, there's nothing wrong with that either, but it's being able to then leverage that to be able to invest into property.
00:04:46.793 --> 00:04:52.348
And a lot of people may think, look, I've got a home, but to buy an investment, how am I going to come up with the funds to do that?
00:04:52.348 --> 00:05:09.391
But it's really being able to look at the property that they currently own and be able to tap into that to be able to leverage it so you can borrow 100% of the property's purchase by being able to utilize the equity in the home they've already got and be able to use the bank's money to be able to invest in and get into a property.
00:05:09.391 --> 00:05:11.103
So, look, a lot of business owners.
00:05:11.103 --> 00:05:17.761
They've bought a home, they're paying the mortgage off, they're working on building the business and generating revenue, but they're sitting on what we call lazy equity.
00:05:17.761 --> 00:05:33.550
There's this whole untapped equity sitting there that could be worth them for them while they're doing what they're doing by utilizing that and investing it without them having to go and use and pull money out of their business that they might have, or out of their own war chest or out of their own.
00:05:34.740 --> 00:05:45.670
So if somebody's in that situation, right, they've got a bunch of equity sitting in their family home that they're living in and they're thinking about going on an investment journey and they've got some savings.
00:05:45.670 --> 00:05:56.680
Does going into tapping into the equity and buying that investment property potentially threaten their lifestyle, based on what they're currently spending before doing that?
00:05:56.680 --> 00:06:06.108
No, so it's no impact, because sitting on the equity in the house right now they'll have a mortgage typically and they'll be paying the mortgage off tapping into that.
00:06:06.108 --> 00:06:21.983
We always treat it separately, so it's a separate facility that's linked against the house and it's a separate loan there that we're utilizing to invest, and the investment property then is what the income against that goes towards funding that and it goes towards funding the new purchase.
00:06:21.983 --> 00:06:37.086
So from a a lifestyle perspective, it's treated separately in that investing, depending on what we're looking at purchasing, it's going to require being able to fund a gap in terms of what revenue comes in being the rent from the property versus the outflow of the cost.
00:06:37.086 --> 00:06:50.129
So we're going to have the biggest expense being interest that we're going to pay the bank for access to the finance, and the finance is structured really based on utilising that equity in the home plus borrowing against the new purchase.
00:06:50.480 --> 00:06:52.608
Then there's the costs of property management.
00:06:52.608 --> 00:06:53.966
You've got insurance, you've got rate.
00:06:53.966 --> 00:06:59.779
So typically, you know, at the moment we're seeing very high demand for rentals in the right areas.
00:06:59.779 --> 00:07:03.550
So we're seeing rental increases go up significantly month in, month out.
00:07:03.550 --> 00:07:09.392
But you know, typically a property could cost an investor, call it $200 a week to be able to hold that investment property.
00:07:09.392 --> 00:07:24.610
So as long as the cash flow surplus is there to fund that, you know, at this stage where the current market's out with rates which we're sitting at what I'd say is a peak, you know we're really all signs are pointing towards next year seeing it drop in interest rates.
00:07:24.610 --> 00:07:28.399
You know we're really all signs are pointing towards next year seeing it drop in interest rates.
00:07:28.399 --> 00:07:33.425
When you look at that model of like it's going to cost 200 bucks, say, to go into that next property.
00:07:33.444 --> 00:07:48.625
When you scale that further and have more and more properties and you're talking about somebody that's on a fixed income, is there a glass ceiling that they hit where it's like, okay, well, you just can't possibly get any more because you can't essentially save enough money to maintain the property.
00:07:48.807 --> 00:07:50.250
Is that a reality for some people?
00:07:50.250 --> 00:08:07.454
That is a reality In the current market now, with the rates, the way they are, depending on certain fixed income, there's going to be ability to have surplus funds to be able to invest and once you get depending on what that is, you'll hit a ceiling potentially, and it may be a matter of then going okay, let's, we're gonna have to sit this out.
00:08:07.454 --> 00:08:22.567
Now you know we've been able to buy one, two, three, four, depending on your situation, and now it's a matter of just waiting and having the right team there and you know, specifically, like a good broker that understands your situation, your position, your income, who can just do those check-ins, which is super important.
00:08:22.567 --> 00:08:25.334
So so, like every six months, how is your situation going?
00:08:25.334 --> 00:08:26.425
Where are you at right now?
00:08:26.425 --> 00:08:30.564
Because things change, your situation changes, your income may change.
00:08:30.564 --> 00:08:32.086
Same with a business owner, right?
00:08:32.086 --> 00:08:45.375
I guess their planning of an aggressive strategy may be hindered by business performance or economic climate that then inhibits their ability to acquire properties.
00:08:45.736 --> 00:08:55.253
Yeah, at what they were they were planning at right spot on and then that will change year on, year out, month in, month out, you know, and we say like sorry, can I just ask a question on that?
00:08:55.253 --> 00:09:07.682
Would you advise business owners that when they are doing well and are banking a lot of cash and their their business is producing, that they go aggressive into property and really push the limits?
00:09:07.682 --> 00:09:16.230
I would advise that, yeah, so the more property you can have and that you can sit on, the more you can hold, the more you're going to see your wealth accelerate over the future.
00:09:16.230 --> 00:09:25.826
So while you can get access to finance as a business owner, you'd want to be able to get it while you can all the time have it and have the money working for you in the marketplace.
00:09:25.826 --> 00:09:28.913
So, yeah, highly, highly, always recommend that.
00:09:28.913 --> 00:09:37.629
And when it comes to self-employed and access and finance, the banks are looking at financials, but there's some cool new strategies that have come out recently, which is super exciting.
00:09:37.629 --> 00:09:37.730
Can?
00:09:37.769 --> 00:09:39.480
we talk about that we can definitely talk about that.
00:09:39.500 --> 00:09:41.043
What are these called strategies?
00:09:41.043 --> 00:09:51.782
It appears to me like if you go straight to a bank and try and get finance, that you may be fronted with a no and you're not really dealing with somebody that's on your team 100%.
00:09:51.782 --> 00:09:53.265
They're looking at their black and white.
00:09:53.265 --> 00:10:03.628
What they can and can't do, it's very limited, but being able to go to a really really good investment broker and I say an investment broker because you don't want to go to any mortgage broker, because not every mortgage broker understands how to structure you up.
00:10:03.668 --> 00:10:09.144
So can we talk about the different, the distinct difference between a mortgage broker and an investment broker.
00:10:09.424 --> 00:10:12.712
And it's really just a mortgage broker that knows investment properties.
00:10:12.753 --> 00:10:19.461
They specialise in that space and you know a normal mortgage broker who just funds finances across the board.
00:10:19.461 --> 00:10:47.552
You know and typically works with your home buyer and funding their dream home purchase is an experience when it comes to how do you structure someone's finances taking into account the big goal and a lot of them won't talk to you about that, but it's like what's important is I want to hear from you that you want X amount of passive income in X amount of years and a good mortgage broker that specializes in investment properties, that believes in investment properties, that invests themselves super important, they actually do that themselves and they're giving you advice and helping you.
00:10:47.552 --> 00:11:03.775
Knowing that they believe in what they do and they're specialists in that field it makes a massive difference because one massive error and there's a few a broker will just do one application to fund an investment property and they'll cross-collateralise all the securities and the banks love that.
00:11:03.775 --> 00:11:08.352
And if you go directly to a bank as well, can you just for the people that don't understand what that is?
00:11:08.452 --> 00:11:08.653
explain.
00:11:08.653 --> 00:11:12.024
And if you go directly to a bank as well, can you just, for the people that don't understand what that is, explain what that is?
00:11:12.024 --> 00:11:12.245
Yeah, sure.
00:11:12.644 --> 00:11:14.865
So if you look at it this way, seek great business owners terms, yeah, yeah.
00:11:14.865 --> 00:11:36.621
So you look at it this way like the bank's always happy to give you finance when it comes to buying a property, because they know they've got your house there and they know that if you can't pay it, a house up to 90, 95 percent of that, which means in their eyes they're like hey, we're happy to give you that much because we know the property is going to be worth be worth it.
00:11:36.621 --> 00:11:36.903
We don't.
00:11:36.903 --> 00:11:38.369
We believe in the property market.
00:11:38.369 --> 00:11:41.365
The banks back it and I'm going off track a little bit here, but it's relevant.
00:11:41.365 --> 00:11:46.695
You know, if you and I'll make a point here like, if you go out and buy shares, they won't give you 195 percent lending.
00:11:46.695 --> 00:11:49.821
Yeah, you know you'll be lucky to get a 50 percent margin because it can fluctuate.
00:11:49.821 --> 00:11:55.072
But property's sold and it's secure and it's performed very well over the years and it's a proven wealth generation tool.
00:11:55.072 --> 00:11:56.417
The banks are willing to back it.
00:11:56.417 --> 00:12:00.078
But, on that note, they're willing to give you a high percentage of the property.
00:12:00.078 --> 00:12:03.628
But you, they, need to have some skin in the game, and it's not much, but it's some.
00:12:03.628 --> 00:12:04.850
So let's call it 10.
00:12:04.850 --> 00:12:10.638
Now that can come from equity, but what the banks can do is they'll say to you look, I'm happy to fund.
00:12:10.638 --> 00:12:12.520
Let's say, you bought a million dollar investment property.
00:12:12.520 --> 00:12:14.951
I'm happy to fund that in full for you because I've got your house.
00:12:14.951 --> 00:12:15.936
That's worth a million dollars.
00:12:15.936 --> 00:12:17.851
Now you owe 500 on the house.
00:12:17.851 --> 00:12:19.871
There's 500,000 sitting in it.
00:12:19.871 --> 00:12:28.905
I'm just going to use that security to fund this one Big no-no, right, okay, right, okay.
00:12:28.905 --> 00:12:29.548
So then they've tangled you up.
00:12:29.548 --> 00:12:30.032
Now the banks love it.
00:12:30.052 --> 00:12:31.197
Now a mortgage broker that doesn't specialize in this.
00:12:31.197 --> 00:12:40.511
It's easy for him to or her, because they'll just do one application for you and they'll get you all the finance, less paperwork, still get their commissions correct, whereas a right mortgage broker will go hang on a second.
00:12:40.511 --> 00:12:42.476
We need to structure this properly.
00:12:42.476 --> 00:12:46.472
It's two applications we go to lender a and we lender A.
00:12:46.472 --> 00:12:48.977
We would like to utilize our equity to invest.
00:12:48.977 --> 00:12:51.993
You're not touching the purchase, you don't need to.
00:12:51.993 --> 00:12:53.586
We just want our equity out Now.
00:12:53.586 --> 00:13:12.772
Not every lender does this, so you need to also know which lenders have an appetite for you as a business owner in accessing finance and accessing your equity, because every lender is going to have a different appetite and different approach when it comes to self-employed and being able to give you equity, so the right broker there knows and they'll structure you up right.
00:13:12.772 --> 00:13:15.243
And having that right structure sets your foundation to be able to build a multi-million dollar property portfolio.
00:13:15.243 --> 00:13:15.764
So it's super important.
00:13:15.966 --> 00:13:18.693
A lot of people get it wrong, and not because because they don't earn any different.
00:13:18.693 --> 00:13:23.306
Yeah, a lot of people go to the branch and the branch they're not going to tell you we're going to do a separate application for you.
00:13:23.306 --> 00:13:25.389
Yeah, well, they're going to protect themselves.
00:13:25.389 --> 00:13:27.692
Banks want security and they'll take as much as they can.
00:13:27.933 --> 00:13:36.533
Yeah, and you know we come across investors that have come to us and they've got five properties and they've been, you know, able to create businesses, make them good money.
00:13:36.533 --> 00:13:39.333
They've gone to their business banker, they're funded them.
00:13:39.333 --> 00:13:42.333
Business bankers got their interests at heart, tied everything up.
00:13:42.333 --> 00:13:45.870
Yeah, and it's just untangle it, restructure it.
00:13:45.870 --> 00:13:58.010
Super important to be able to just be able to keep going, build that portfolio, keep tapping back in and make sure that it's structured to give you the best flexibility, you the most controlled not the banks and set you up for the future.
00:13:58.010 --> 00:13:59.168
And that's super important.
00:13:59.168 --> 00:14:09.291
And that's the difference really of going to the right broker that knows investing, that's got your best interest at heart, not someone that's going to be lazy to do an application or go to the bank that that's got your best interest at heart.
00:14:09.291 --> 00:14:12.575
Not someone that's going to be lazy to do an application or go to the bank that's protecting themselves.
00:14:12.595 --> 00:14:14.275
It's super important that big picture is taken into account.
00:14:14.275 --> 00:14:14.657
Yeah, can we talk?
00:14:14.657 --> 00:14:23.678
About the big picture a little bit, Because I definitely want to reiterate that generally this is a long game right, yes, 100% so yeah, can you speak on that?
00:14:23.720 --> 00:14:36.576
when you have a customer, yeah, because you mentioned before about depending on what the big goal is, and I remember this conversation with you when Leisha and I went on the journey with you, and at that point I was like I don't know what the big goal is.
00:14:36.576 --> 00:14:40.976
I just know that investing in property is a good thing to do and, yeah, what?
00:14:40.976 --> 00:14:41.899
What is the?
00:14:41.899 --> 00:14:46.072
How have you supported clients to tease out what?
00:14:46.072 --> 00:14:47.475
What is that goal?
00:14:47.475 --> 00:14:50.364
That then you have a strategy to support?
00:14:50.364 --> 00:14:54.220
Definitely, yep, and it all comes back down to like what do you want in income?
00:14:54.220 --> 00:15:02.451
Because we talk about financial freedom, when we talk about generating an income stream there to give you choices, be able to get up, do what you want, have that additional revenue stream.
00:15:02.451 --> 00:15:04.566
You may love doing what you do in your business.
00:15:04.566 --> 00:15:05.609
You want to keep having it there.
00:15:05.609 --> 00:15:09.590
It's just another revenue stream that can also work for you while you're building your business up.
00:15:10.312 --> 00:15:12.668
And it's like what does that need to look like?
00:15:12.668 --> 00:15:14.854
Without knowing that, we don't know where we're heading.
00:15:14.854 --> 00:15:26.052
So we need to know what that end game is and we might find like you might be 30 years old, let's say, and your goal is by 50, you want to have $200,000 a year coming in out of your property portfolio.
00:15:26.052 --> 00:15:30.077
Now we've got something to work towards and it's like do you mean like, um, passive income?
00:15:30.077 --> 00:15:37.037
Passive income and let's say that was an example we know now we've got 20 years as a time frame to generate portfolio.
00:15:37.037 --> 00:15:38.847
That's giving us 200 grand.
00:15:39.067 --> 00:15:43.447
Now, to generate 200 grand, if I was getting a five percent return, I'd need four million dollars in property.
00:15:43.447 --> 00:15:49.879
So great, now I know I've got a goal I need to buy $4 million in property over the next 20 years.
00:15:49.879 --> 00:15:54.797
I need to have $4 million of property generating me a revenue stream over the next 20 years.
00:15:54.797 --> 00:16:05.595
So it just starts with knowing what that is, reverse engineering it and there's no straight line map to get there because things change and what we touched on earlier it's like what's going to happen in my business, how's?
00:16:05.615 --> 00:16:06.297
it going to perform?
00:16:06.445 --> 00:16:07.668
Am I going to have a really good year?
00:16:07.668 --> 00:16:12.573
If I am, can I double down, yeah, and get like four or five in yeah?
00:16:12.695 --> 00:16:16.254
Yeah, and then revisit the long game and what that looks like.
00:16:16.254 --> 00:16:24.668
So maybe we've gone a bit too low and business is doing better than we expected and we can go a bit more Perfect and I guess the big ultimate goal is in business.
00:16:25.149 --> 00:16:32.315
It's generating also those revenue streams and diversifying and it's not having all your wealth put in the one spot.
00:16:32.315 --> 00:16:34.777
It's not having all your money feeding into the business.
00:16:34.777 --> 00:16:49.096
In saying that it's important that you do fill your business to generate you the cash flow back out, but it's being able to diversify, that when you do have that ability to be able to invest, that you're doing that on the side while you're you growing your business and why are you working on that?
00:16:49.524 --> 00:16:51.091
So you've got another revenue stream there?
00:16:51.091 --> 00:16:53.133
You're building wealth for the future.
00:16:53.133 --> 00:16:54.998
You're building legacy.
00:16:54.998 --> 00:16:57.352
You're building properties that pass down to your children.
00:16:57.693 --> 00:17:20.535
Yeah, I think the thing that really drew us to you guys is all we need to focus on is generating money in our business and growing our businesses, because you guys handle the rest yeah, and I think for business owners, it's like the more you can keep things simple and like narrow the, the focus so that they can have depth, that's like all right.
00:17:20.976 --> 00:17:23.387
I remember the, the conversation with you guys.
00:17:23.387 --> 00:17:39.278
It was like these are the numbers that you need to hit in order to support the goal that you want to achieve, and for me that was just like all right, cool, I don't need to worry about the brokering side, the bank side, picking the property side, the rental side, the insurance side.
00:17:39.278 --> 00:17:47.884
It's literally like these are the numbers that are in my control and then, when they get hit, then I can pull the trigger and deploy the next part of the journey.
00:17:47.884 --> 00:17:50.188
When they get hit, then I can pull the trigger and deploy the next part of the journey.
00:17:50.188 --> 00:18:08.319
And I have to say as well, going on the journey, the process and even the documentation and the contracts and like you literally get your hand held the whole way through the process and the team are incredible that you can keep focusing on your business without it, with the investment journey becoming a distraction.
00:18:13.164 --> 00:18:13.949
Because I know that can be like I.
00:18:13.949 --> 00:18:14.673
I know for me that was a big thing.
00:18:14.673 --> 00:18:25.210
I'm like, well, if we're going to invest in all these properties, because we planned on doing this even prior to meeting you, dave yes, and it was like the maintenance on all of those things and having to make sure that it's rented and all of that sort of stuff I'm just like what.
00:18:25.210 --> 00:18:28.013
I cannot be bothered with any of that of that.
00:18:28.013 --> 00:18:31.900
And then when you guys do the full package, I was like epic.
00:18:32.384 --> 00:18:34.152
Yeah, and there's so much involved there.
00:18:34.231 --> 00:18:34.574
Yeah.
00:18:34.785 --> 00:18:40.712
But we've really deployed resources into making sure we've got an expert in every field that can hold a hand.
00:18:40.712 --> 00:18:47.851
And it's a journey from start to finish and having the right people on your team being able to help guide you through the process just makes it so good.
00:18:47.851 --> 00:18:51.102
So Having the right people on your team being able to help guide you through the process.
00:18:51.122 --> 00:18:51.824
This makes it easier.
00:18:51.824 --> 00:18:59.263
So, yeah, so if we were talking to a business owner who their business is generating money, good money, they got money sitting there and they're not they're kind of just not really sure what to do with it.
00:18:59.263 --> 00:19:03.334
Yeah, how much do you suggest if you were just to put out a figure?
00:19:03.354 --> 00:19:17.259
I know it's going to be different for everybody yeah, but if there was like a figure that people were wondering how much you would need to start like, what would that figure be If you didn't already have a house and you just have cash?
00:19:17.278 --> 00:19:18.623
in the bank, the magic number would be $100,000.
00:19:18.623 --> 00:19:21.857
So typically the lenders will give you 90% when it comes to investing.
00:19:21.857 --> 00:19:23.244
So you'd want to come up with 10%.
00:19:23.244 --> 00:19:24.326
Then there's some costs.
00:19:24.326 --> 00:19:29.397
So if you were to use a $700,000 entry price point, it's $70,000.
00:19:29.397 --> 00:19:32.250
Then you'd have some stamp duty and you'd have some solicitor fees.
00:19:32.250 --> 00:19:34.532
So on top of that you'd wanna have a bit of a buffer.
00:19:34.532 --> 00:19:41.542
So we always encourage, always make sure you've got money put aside as a buffer and sleep at night for every property that you buy.
00:19:41.542 --> 00:19:44.199
Yeah, and it's a mini wall chest for the investment property.
00:19:44.199 --> 00:19:46.430
Yeah, um, so that you've got that safety net there.
00:19:46.430 --> 00:19:57.959
Yeah, so the hundred thousand sort of the entry level price point that gets you in the market on a good investment property in a good location that you can set and forget and know it's going to do its thing and help you get to your world creation yeah there's um.
00:19:58.059 --> 00:19:59.221
There's one thing I want to touch on.
00:19:59.221 --> 00:20:06.824
One of the the big things for me whenever I do business with somebody is credibility, and I know Dave is the real deal.
00:20:06.824 --> 00:20:10.526
So, dave, I'm going to throw some questions at you here.
00:20:10.526 --> 00:20:14.605
Could you tell me how old were you when you bought your first property?
00:20:14.605 --> 00:20:16.402
First property was 19.
00:20:16.402 --> 00:20:18.566
And how old are you now?
00:20:18.566 --> 00:20:19.555
I'm now 37.
00:20:19.555 --> 00:20:22.885
And can I ask how many properties do you have personally?
00:20:22.885 --> 00:20:25.156
Total net worth is 20 million now.
00:20:25.999 --> 00:20:29.465
But that's combined with property and other asset classes.
00:20:29.465 --> 00:20:32.960
But property wise, we'll be sitting on around about 12 at the moment.
00:20:32.960 --> 00:20:35.246
Amazing, that is inspiring.
00:20:35.326 --> 00:20:36.416
I just want to pre-frame.
00:20:36.416 --> 00:20:39.505
He's 37 and could retire today if he wanted to.
00:20:39.724 --> 00:20:44.336
Definitely yeah yeah and that's the inspiring and that's um, you know, 19.
00:20:44.336 --> 00:20:46.541
You know I knew from like 15.
00:20:46.541 --> 00:20:49.147
I wanted to, you know, get in the property I wanted to invest.
00:20:49.147 --> 00:20:56.400
You know I grew up with a dad that retired at 33, never worked a day since, and you know it gives me goosebumps every time I say that and I hear that.
00:20:56.400 --> 00:21:02.039
Sorry, but I do want to mention like and we've discussed this before like that that came.
00:21:02.221 --> 00:21:12.375
Your journey came in a compromise as a 20-year-old from a social life perspective, and you know you're really reaping the benefits of that compromise now.
00:21:12.375 --> 00:21:20.288
So what would you say to young people that are, you know, 18, 22 in that area and inspired by property?
00:21:20.288 --> 00:21:30.921
What would your advice be to them when they've got their mates on one hand saying, come out, let's go out, have a good time, and they've got that inner voice about knowing that they want to build an epic life like you have.
00:21:30.921 --> 00:21:33.604
What's some piece of advice that you would give that individual?
00:21:33.604 --> 00:21:42.196
Work hard, know your goals, know what you want, get the right advice around what you need to get it and don't stop until you get it.
00:21:42.196 --> 00:21:46.382
And really that hard work piece can't be underestimated when you're kicking off.
00:21:47.343 --> 00:21:48.242
I had five jobs.
00:21:48.242 --> 00:21:49.704
I was delivering pizzas every night.
00:21:49.704 --> 00:21:50.905
I did whatever it took.
00:21:50.905 --> 00:21:53.008
I was working picking hydroponic tomatoes.
00:21:53.008 --> 00:21:56.271
On a Sunday I was collecting mail on a different job.
00:21:56.271 --> 00:22:02.750
I did what it took to be able to know what I needed to come up with to work towards reaching that goal.
00:22:02.750 --> 00:22:08.227
I still had fun where I could, but the priority was hard work, saving, hitting the goal.
00:22:08.694 --> 00:22:09.798
And what was the drive?
00:22:09.798 --> 00:22:15.181
Well, not was is Like what's the drive, especially specifically if we're talking about when you were 19?
00:22:15.181 --> 00:22:18.414
Because not a lot of 19-year-olds would be like you know.
00:22:18.414 --> 00:22:19.056
That's the goal.
00:22:19.056 --> 00:22:22.461
Was it seeing your dad retiring so early?
00:22:22.902 --> 00:22:26.968
Yeah, it was seeing dad, like you know, going's the goal Was it seeing your dad retiring so early?
00:22:26.968 --> 00:22:30.913
Yeah, it was seeing dad, like you know, going to school and saying, okay, why is dad able to sit at home?
00:22:30.913 --> 00:22:33.297
Why is, you know, my friend's parents, you know they're working out.
00:22:33.297 --> 00:22:34.097
What's the difference here?
00:22:34.097 --> 00:22:35.538
What's he done that they're not doing?
00:22:35.538 --> 00:22:45.932
You know, and it was I want to be able to do that, but I want to learn what he's done and I was super passionate from a young age to really want to help as many people as I could, you know, be able to achieve that, because I could see it was possible.
00:22:45.932 --> 00:23:00.080
And dad came to Australia at 23 with nothing and started off with nothing and ran a business for 10 years and had a grocery store in Melbourne and, you know, and the business wasn't going gangbusters, it was just a typical small business, you know.
00:23:00.080 --> 00:23:07.075
And mom and dad both worked really hard, you know, running the business every day, but on the side they invested and they, you know they invested.
00:23:07.075 --> 00:23:08.547
They're in commercial as well, aren't they?
00:23:08.694 --> 00:23:09.558
Commercial as well.
00:23:09.558 --> 00:23:10.416
Yeah, and kept on.
00:23:10.416 --> 00:23:19.916
You know replicating, but the magic of property in 10 years you can achieve a lot and you know people can say, look back in those days, you know, but still in these days there's opportunity.
00:23:19.916 --> 00:23:20.817
Still in these days there's opportunity.
00:23:20.817 --> 00:23:24.259
It's just getting yourself in a position to make the most of it and taking action.
00:23:24.259 --> 00:23:37.247
Yeah, there's one saying I think we'll leave our listeners with that I heard a long time ago about property it's not timing the market, it's timing the market One of my favorite sayings.
00:23:37.247 --> 00:23:38.027
Absolutely love it.
00:23:38.027 --> 00:23:40.167
Yeah, Dave, this has been incredible.
00:23:40.167 --> 00:23:43.029
Thank you so much for spending the time and sharing your story.
00:23:43.029 --> 00:23:48.833
And, yeah, for anyone that wants to reach out to Dave about property investing, where can they find you?
00:23:48.833 --> 00:23:51.042
Yep, so the business is Real Estate Investment Finance.
00:23:51.042 --> 00:23:55.707
So, yeah, if you jump on the website there and you'll be able to fill in a contact form and reach out.
00:23:55.707 --> 00:24:02.846
But yeah, otherwise you'll find me on socials and, yeah, reach out and always happy to have a chat and help as many people as we can Love that.
00:24:02.846 --> 00:24:03.788
Thanks so much, Dave.
00:24:03.788 --> 00:24:05.069
Awesome, Thank you guys.
00:24:05.069 --> 00:24:06.181
See you Now.
00:24:06.201 --> 00:24:20.547
We've wrapped up the podcast and we've just been reflecting on it and there's a piece of content that is critical, that we're going to add and we're going to talk about how to get creative with finance and the golden ticket for the self-employed to invest.
00:24:20.547 --> 00:24:26.018
Dave tell us it's massive.
00:24:26.018 --> 00:24:32.125
Finance is the ticket to freedom, because being able to access that finance means you can leverage, and being able to leverage means you can build wealth by using the bank's money there.
00:24:32.125 --> 00:24:36.038
But traditionally it wasn't easy to get finance as a self-employed.
00:24:36.038 --> 00:24:36.881
It's crazy.
00:24:36.881 --> 00:24:43.246
And even now you could go out and get yourself a job and get one payslip and the bank will lend you money based on that one payslip.
00:24:43.246 --> 00:24:45.319
Now you could lose your job tomorrow.
00:24:45.319 --> 00:24:48.386
From the bank's perspective, they don't care.
00:24:48.386 --> 00:24:51.484
They'll give you the finance on day one in the job.
00:24:51.484 --> 00:25:00.897
Some lenders, a lot of major lenders, but you can be a business owner that's 20 years in business, had a little bit of a dip in your business performance and the banks will crucify you over it.
00:25:00.917 --> 00:25:02.339
Crazy, bizarre performance and the banks will crucify you.
00:25:02.339 --> 00:25:02.579
Yeah, crazy.
00:25:02.599 --> 00:25:03.000
Denied Bizarre.
00:25:03.000 --> 00:25:10.009
I think a business owner is in control more than someone that goes out and is on a wage.
00:25:10.009 --> 00:25:11.358
Yeah, but this is the.
00:25:11.358 --> 00:25:15.201
Don't ever try to make sense of the banks and how they operate because you'll drive yourself crazy.
00:25:15.201 --> 00:25:19.306
But a good mortgage broker will deal with all that and understand all that.
00:25:19.394 --> 00:25:29.184
But there has been some cool stuff that's come out lately and it is fresh over the last sort of six, 12 months where banks are becoming a little bit more flexible with self-employed, which is awesome news to be able to get the finance.
00:25:29.184 --> 00:25:45.421
So there's always different ways there, and one big strategy that they've implemented is they've got a simplified self-employed process now where if you're paying yourself a wage, they don't need to see how your business is performing.
00:25:45.421 --> 00:25:47.468
They will accept pay slips as a business owner taking a salary out of the business.
00:25:47.468 --> 00:25:53.249
Super cool because now it eliminates the having to show financials, touch returns, notice of assessments, not only over one year but two years.
00:25:53.249 --> 00:26:03.404
We can now just go straight in with pay slips and earning x amount of salary that you nominate as a business owner to pay yourself, is this, no matter how long you've been in business, correct?
00:26:03.555 --> 00:26:04.096
There is a little.
00:26:04.096 --> 00:26:13.883
The banks need you to be in business for two years as a rough guide, being self-employed, but this strategy, in terms of them being able to assess your income, is regardless of how long you've been in business.
00:26:13.974 --> 00:26:22.066
So what if you've been in business for two years, you haven't been pulling a wage, but you've been living out of your business, and then you switch it to paying yourself a wage?
00:26:22.066 --> 00:26:22.968
Does that?
00:26:23.067 --> 00:26:23.789
change anything.
00:26:23.789 --> 00:26:37.288
So a few different lenders have this little niche that's come out, and some of them will take as short as three months and others will want to see it over six months, so you can start at the out of forward plan Again, the right record.
00:26:37.288 --> 00:26:45.006
So this is what you're going to need to be doing and if you can show this sort of income, there's the ability to be able to access the finance that we need to be able to take that next step.
00:26:45.006 --> 00:26:46.407
There's other avenues too.
00:26:46.407 --> 00:26:59.421
There's low dock loans, where you don't have to show financials you pay a little bit more for that where you can get an accountant's letter on declaring what you own as a business owner, be able to access finance, which is another avenue, to not have to produce the financials and tax returns.
00:26:59.701 --> 00:27:04.990
And there's other little hacks when it comes to finance, too, and being able to continue to access more.
00:27:04.990 --> 00:27:14.402
If you buy property in a trust, there's lenders there that will disregard the debt when it comes to being able to borrow more funds, because they look at it like the trust can take care of the property.
00:27:14.402 --> 00:27:23.756
So you to buy another property, we can disregard what's happening in the trust, as long as a trust can manage its own commitment, they will disregard it.
00:27:23.756 --> 00:27:31.769
That's another cool little hack there to be able to continue to leverage and access finance, especially as you get to the point of owning three, four, five, six, seven more debt you have there.
00:27:31.769 --> 00:27:37.146
It's just another little avenue there to be able to continue to leverage and access more funds from the bank too.
00:27:37.454 --> 00:27:42.968
And obviously these are great strategies, but you need to be able to maintain the properties as well.
00:27:43.167 --> 00:27:46.214
these are great strategies, but you need to be able to maintain the properties as well.
00:27:46.214 --> 00:27:47.878
A hundred percent Exactly.
00:27:47.878 --> 00:27:49.744
And I think also, these strategies aren't going to be marketed outwardly right?
00:27:49.744 --> 00:27:50.266
Definitely not.
00:27:50.266 --> 00:27:57.323
It almost sounds like they're illegal, but they're not and they're not.
00:27:57.323 --> 00:28:13.690
And as a business owner, you know, I think, part of this, being in business, and there might be people that agree and disagree with this, but I know in my own journey there has been elements that's come from my schoolyard days of bending rules that I've taken into business.
00:28:13.690 --> 00:28:19.846
That has served me, and this just seems like another bending of a rule in order to move forward.
00:28:19.846 --> 00:28:26.942
It's about maximizing what's out there and being able to find the little loopholes, and you don't ever want to be doing anything.
00:28:26.942 --> 00:28:34.894
It's got to be all above board, but it's about how do we get around certain avenues depending on our situation.
00:28:34.894 --> 00:28:38.800
That's going to give us the ability to be able to get the finance that we need to go to the next step.
00:28:38.994 --> 00:28:41.799
Yeah, and that's the thing that I think you won't get.
00:28:41.799 --> 00:28:46.386
If you're doing it on your own, yes is you're not going to be, unless you're a full researcher.
00:28:46.386 --> 00:28:48.115
Do you even have access to this stuff?
00:28:48.115 --> 00:28:49.699
If you're on your own, I wouldn't imagine.
00:28:49.699 --> 00:28:53.748
Yeah, so reinforcing having someone in your team.
00:28:54.195 --> 00:28:56.362
Yeah, it specializes in that space.
00:28:56.362 --> 00:28:59.676
It knows how to get around things to help you get to your next, the next to your goal.
00:28:59.876 --> 00:29:08.989
Yeah, ultimately, yeah, so so super important one thing that Daniel and I have been really focusing on is the question of how can we, instead of why can't we?
00:29:08.989 --> 00:29:14.765
Or this thing that we kept getting stuck with was, like you know, we want to do this, but how?
00:29:14.765 --> 00:29:18.320
Whereas we want to really ask ourselves, like what are the?
00:29:18.320 --> 00:29:19.284
What are the options?
00:29:19.284 --> 00:29:21.881
And that's why we were having that conversation prior to this is like what are the options?
00:29:21.881 --> 00:29:24.209
And and that's why we were having that conversation prior to this it's like what are the options?
00:29:24.209 --> 00:29:24.368
And?
00:29:24.388 --> 00:29:28.884
asking the right questions to getting to the outcome, so that we are moving in the direction that we want to be moving.
00:29:29.045 --> 00:29:33.224
Amazing, just that changing mindset and thinking, you know, on the solutions.
00:29:33.224 --> 00:29:35.570
Super powerful, love that Awesome, all right.
00:29:35.631 --> 00:29:36.974
Well, we are actually going to wrap this up.
00:29:37.015 --> 00:29:38.441
We are going to wrap this up right now.
00:29:38.441 --> 00:29:49.038
That now, that is your golden ticket to property.
00:29:49.038 --> 00:29:49.840
If you are interested, reach out to Dave.
00:29:49.840 --> 00:29:51.045
There'll be a link on the podcast as well, yeah, in the note.
00:29:51.045 --> 00:29:53.634
But yeah, I really feel that moving your family forward and creating wealth beyond you, there are so many options out there.
00:29:53.634 --> 00:30:03.467
But if you're looking for something that has a growth trajectory that is linear and not all over the place and proven, definitely reach out and have a chat to Dave and his team.
00:30:03.467 --> 00:30:04.891
Thanks, guys, thanks for having me.
00:30:05.434 --> 00:30:07.442
We hope you enjoyed this episode of Synergy.
00:30:07.442 --> 00:30:09.280
We encourage you to hit the subscribe button.
00:30:09.280 --> 00:30:10.084
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00:30:10.434 --> 00:30:15.544
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