WEBVTT - Moving Up The Property Ladder 0:00:00.990 --> 0:00:03.359 Hey, it is Kia. You may remember a few months 0:00:03.360 --> 0:00:05.129 back we were getting the grips of how to join 0:00:05.130 --> 0:00:07.590 a property market as a first time buyer. If you 0:00:07.590 --> 0:00:10.079 missed it, make sure you go back and listen. But 0:00:10.080 --> 0:00:13.139 this time I want to talk about next steps. You 0:00:13.139 --> 0:00:15.599 bought your first property a few years back and life 0:00:15.599 --> 0:00:18.420 has moved on. Maybe you're thinking of starting a family 0:00:18.690 --> 0:00:20.759 and want to buy a bigger home, or perhaps you're 0:00:20.759 --> 0:00:23.310 looking at a property as more of a financial investment. 0:00:23.759 --> 0:00:26.250 Or maybe it's a bit of both. Whatever the case, 0:00:26.309 --> 0:00:28.230 there's a lot to talk about when it comes to 0:00:28.230 --> 0:00:31.679 moving up the property ladder. Also, it might be your 0:00:31.679 --> 0:00:34.199 listen to this and thinking I'm not even close to 0:00:34.199 --> 0:00:37.110 buying my first house, and that's totally fine too. There's 0:00:37.110 --> 0:00:39.809 still lots of useful information in this episode if you're 0:00:39.810 --> 0:00:43.710 considering trying to become a homeowner. With me to track 0:00:43.710 --> 0:00:46.740 through all of this is Liam Anstruther. Liam is an 0:00:46.740 --> 0:00:49.830 independent mortgage advisor who set up The Mortgage Advice Club 0:00:49.830 --> 0:00:54.029 to help people with the home buying process. So Liam, 0:00:54.270 --> 0:00:57.540 let's get into the nitty- gritty of this. When is 0:00:57.540 --> 0:01:00.720 a good time to start thinking about the next step? 0:01:00.960 --> 0:01:03.389 Yeah, fantastic. So I think with the next step, there's 0:01:03.389 --> 0:01:05.789 usually two key factors that will come into play for 0:01:05.789 --> 0:01:09.360 people. Usually they tend to be social or financial. So 0:01:09.660 --> 0:01:12.240 whether it be they've had a kid or they're potentially 0:01:12.240 --> 0:01:13.800 having a kid and they need to take that next 0:01:13.800 --> 0:01:16.169 step up to get more size, you want to start 0:01:16.170 --> 0:01:18.720 considering that probably before that happens so that you're ready 0:01:18.720 --> 0:01:22.768 for the impending arrivals. Secondly, it'll be financial. So whether 0:01:22.770 --> 0:01:25.589 it be with the way that property values have been 0:01:25.830 --> 0:01:28.500 going, your property values went up, you want to take 0:01:28.500 --> 0:01:31.650 advantage. Or you've got that first step in stone in 0:01:31.650 --> 0:01:33.990 the market, but you've got new jobs, you've got more 0:01:33.990 --> 0:01:37.140 money in, you want to get that property, maybe a 0:01:37.140 --> 0:01:40.140 longer term property for you and your partner or yourself, 0:01:40.500 --> 0:01:42.509 then that's the time you want to say, right, and 0:01:42.509 --> 0:01:44.249 now's the time to start looking, see what we can 0:01:44.250 --> 0:01:46.679 afford, what can we get, and then look to see 0:01:46.949 --> 0:01:48.630 what properties you can get for that budget. 0:01:48.960 --> 0:01:52.050 I think that's amazing. I think like you said, it's just figuring out 0:01:52.050 --> 0:01:54.360 where you are to know when you're going to take 0:01:54.360 --> 0:01:58.349 your next step. So I want to then ask you what are some of 0:01:58.349 --> 0:02:00.960 the challenges that people may face if they are actually 0:02:00.960 --> 0:02:03.960 looking to buy a bigger place? 0:02:04.199 --> 0:02:07.470 I think the biggest one just now is affordability. I 0:02:07.470 --> 0:02:10.020 think with the way rates that are just now, as I 0:02:10.020 --> 0:02:12.150 said, we've got a whole generation who are used to, 0:02:12.330 --> 0:02:14.639 my generation who are used to seeing rates of 1, 0:02:14.669 --> 0:02:17.759 2%, not much higher than that. They're now double that. 0:02:18.059 --> 0:02:20.219 So that's going to have a massive impact on the 0:02:20.219 --> 0:02:23.669 monthly, the payment. Electricity aint cheap. Your council tax is going to 0:02:23.730 --> 0:02:25.980 be higher. So it's mainly about that monthly budget and 0:02:25.980 --> 0:02:27.720 you really need to have a think about, and obviously 0:02:27.720 --> 0:02:29.490 when we are speaking to our clients, we go through 0:02:29.490 --> 0:02:31.770 that with you anyway to make sure first step is 0:02:31.770 --> 0:02:34.889 this affordable for you, but it's about making sure that 0:02:34.889 --> 0:02:38.490 this step is worth it or it might mean that the next step 0:02:38.490 --> 0:02:40.199 might not be your forever home. It might be like 0:02:40.199 --> 0:02:42.150 a middle step. It doesn't necessarily mean you need to 0:02:42.150 --> 0:02:46.169 go from first house, first flat to forever home. There 0:02:46.169 --> 0:02:48.360 might be that middle property that you're like, right, it's 0:02:48.360 --> 0:02:50.760 bigger, we can forward this now, but it's only a five- 0:02:50.760 --> 0:02:53.820 year plan and then planning to get that next step 0:02:53.820 --> 0:02:54.120 on it. 0:02:54.450 --> 0:02:57.750 I love that. Because I think it is about being realistic. I think, I'm 0:02:57.750 --> 0:02:59.369 not a property owner yet, but what I can relate 0:02:59.369 --> 0:03:00.149 that to is cars. 0:03:00.270 --> 0:03:00.271 Yeah. 0:03:00.271 --> 0:03:03.300 So you have your first car and then when you come 0:03:03.300 --> 0:03:05.070 to move up, you're probably not going to jump straight 0:03:05.070 --> 0:03:07.139 to your dream car because that's probably going to be way out of 0:03:07.139 --> 0:03:09.030 budget. So you're going to be something slightly bigger. And I 0:03:09.030 --> 0:03:11.219 think when you put it in that perspective, it makes 0:03:11.219 --> 0:03:13.590 sense. I think a lot of people either enter property 0:03:13.590 --> 0:03:15.900 ladder thinking they're going to live in their five bedroom 0:03:15.900 --> 0:03:18.119 mansion when they can't afford it, or they think I've 0:03:18.119 --> 0:03:19.860 come from maybe my one bed flat and I'm going 0:03:19.860 --> 0:03:22.470 to go straight into my mansion. Where it is stepping stones. Maybe 0:03:22.470 --> 0:03:25.410 it's figuring out, like you said, the in- between that 0:03:25.410 --> 0:03:26.670 is better suit for. 0:03:26.730 --> 0:03:30.450 I think that's something that is changing back. When I 0:03:30.450 --> 0:03:34.109 bought my first property seven, eight years ago, you got 0:03:34.109 --> 0:03:37.500 a small flat, you got a bigger flat or medium 0:03:37.500 --> 0:03:39.090 house with garden and things, and then you've got your 0:03:39.090 --> 0:03:41.730 forever home. Though there was kind of historically all that three- 0:03:41.730 --> 0:03:45.210 step process. Because of the way rates were, younger people 0:03:45.210 --> 0:03:47.759 having good wages, they tend to just skip from zero 0:03:47.759 --> 0:03:50.399 to a hundred really quick. Whereas you're starting to see 0:03:50.400 --> 0:03:52.829 it now because of the way rates are, property values 0:03:52.830 --> 0:03:54.269 have went up a lot over the last few years 0:03:54.270 --> 0:03:57.210 as well. You're starting to get that start at the 0:03:57.210 --> 0:04:00.090 cheaper, lower flat, then take that middle step then the 0:04:00.090 --> 0:04:02.070 forever home. So it's kind of naturally going back to 0:04:02.070 --> 0:04:04.889 that after the kind of low rate period that we've 0:04:04.889 --> 0:04:06.209 had over the last five years. 0:04:06.300 --> 0:04:09.389 Yeah, amazing. So we got the three step in mind 0:04:09.389 --> 0:04:13.530 when it comes to getting up that property ladder and taking it in bits, moving 0:04:13.530 --> 0:04:15.300 up and getting the bigger property. So I want to 0:04:15.300 --> 0:04:20.370 then ask you, what about if you want second property 0:04:20.610 --> 0:04:23.518 because not everyone wants to move up and sell the 0:04:23.520 --> 0:04:24.900 one they've got. So what if you want a second 0:04:24.900 --> 0:04:27.389 property but you also want to keep the one that 0:04:27.389 --> 0:04:30.569 you have already? Is that a good idea or should 0:04:30.570 --> 0:04:32.789 maybe someone think about getting rid of their first one? 0:04:33.120 --> 0:04:36.150 No, a lot of it depends on your financial circumstances 0:04:36.150 --> 0:04:38.159 personally. I mean what you'd be moving onto to there 0:04:38.160 --> 0:04:41.160 would be becoming a landlord. So you'd be moving into 0:04:41.160 --> 0:04:45.539 getting rental income, so an extra revenue source, but there's 0:04:45.599 --> 0:04:48.359 pros and cons to both sides. The deposits tend to 0:04:48.359 --> 0:04:50.310 be a little bit higher if you're buying a property 0:04:50.310 --> 0:04:52.229 to rent out or if you're staying in your current 0:04:52.650 --> 0:04:54.990 property you've got and you're buying another one. You need 0:04:54.990 --> 0:04:56.669 to have that equity to be able to do that. 0:04:56.669 --> 0:04:59.669 So it can be great for some people. A lot 0:04:59.670 --> 0:05:03.630 of people, if they've got that entrepreneurial sense in them, 0:05:03.630 --> 0:05:04.949 they want to make money, they want to make money 0:05:04.949 --> 0:05:07.650 from property and they might buy more further than the line 0:05:07.650 --> 0:05:10.320 and make it a real revenue income. It is possible 0:05:10.320 --> 0:05:11.850 to do something called let to buy, which is where 0:05:11.850 --> 0:05:14.549 you've let out your existing property and then you go 0:05:14.550 --> 0:05:17.640 buy another property. And obviously with that things to consider 0:05:18.178 --> 0:05:20.460 there's going to be additional stamp duty, things like that as 0:05:20.460 --> 0:05:22.558 well. But as you said, if you've got the finance 0:05:22.559 --> 0:05:24.900 there and you've got the understanding of it by speaking 0:05:24.900 --> 0:05:27.600 to somebody like ourselves, then it's definitely something that you 0:05:27.600 --> 0:05:27.990 can do. 0:05:28.110 --> 0:05:30.240 So let's kind of delve into a bit more then 0:05:30.300 --> 0:05:32.250 on getting your second property if you did want to 0:05:32.250 --> 0:05:35.789 become a landlord, because people who are listening, we've spoken 0:05:35.790 --> 0:05:38.670 about getting your first property and there's all kinds of mortgage 0:05:38.759 --> 0:05:42.119 products on the market you can get. There's no deposits, 0:05:42.119 --> 0:05:45.270 there's 5% deposit, 10%. So is that the same if you are 0:05:45.450 --> 0:05:47.610 going to buy a second property that's an investment property 0:05:47.610 --> 0:05:48.690 or how does that differ? 0:05:49.440 --> 0:05:52.020 It differs. You need to have more of a deposit 0:05:52.050 --> 0:05:54.178 when you're buying a buy- to- let at that point, 0:05:54.178 --> 0:05:55.979 if you've already got a property and you're buying one, so 0:05:56.250 --> 0:06:00.449 tends to be 20 to 25% as the minimum. There are certain circumstances 0:06:00.449 --> 0:06:03.060 where if it's for a family member, things like that, the 0:06:03.060 --> 0:06:05.339 deposit doesn't have to be that high, but generally nine 0:06:05.339 --> 0:06:08.970 times out of ten it will be a higher deposit. One 0:06:08.970 --> 0:06:11.130 of the main differences is on what people will tend 0:06:11.130 --> 0:06:12.599 to do with buy- to- let properties as it will 0:06:12.599 --> 0:06:14.518 be on an interest only basis, because you want to 0:06:14.520 --> 0:06:16.770 make as much money as possible from that rental income. 0:06:16.770 --> 0:06:20.250 So your monthly payments will be substantially lower, because you 0:06:20.250 --> 0:06:25.230 making the profit from the rent's coming in. But as 0:06:25.230 --> 0:06:28.109 I said, with the way rates are just now, a lot 0:06:28.110 --> 0:06:30.118 of landlords are probably going the other way rather than 0:06:30.120 --> 0:06:32.609 coming in. But again, some things that can be of 0:06:32.610 --> 0:06:34.709 benefit if you come in at this time and you're going to 0:06:34.709 --> 0:06:35.940 make more money as the rates come down. 0:06:36.330 --> 0:06:38.219 I mean I think everyone loves when you're here making 0:06:38.220 --> 0:06:40.290 money, every ones ears prick up and they want to 0:06:40.290 --> 0:06:42.540 hear about that. But you did mention something there that I kind 0:06:42.540 --> 0:06:44.580 of want you to expand a little bit more. It's 0:06:44.580 --> 0:06:48.689 interest only mortgage. What is that for anyone who doesn't know? 0:06:48.689 --> 0:06:51.599 Yeah. So when it's a second property, it's not the 0:06:51.599 --> 0:06:53.520 home you live in, the risk is lower because in 0:06:53.520 --> 0:06:55.740 the worst case scenario, if you had to sell that property, 0:06:55.740 --> 0:06:57.270 it's not the one you're living in. So there's less 0:06:57.270 --> 0:07:00.000 of an impact on you. (inaudible) buy- to- let 0:07:00.000 --> 0:07:02.639 properties is it's not based on your income, it's based 0:07:02.639 --> 0:07:05.039 on the mortgage payment versus the rental income. So it's 0:07:05.040 --> 0:07:07.139 a completely different thing and it tends to be a 0:07:07.139 --> 0:07:10.859 little bit probably easier on personal circumstances than what a 0:07:10.859 --> 0:07:13.499 residential home would be. So interest only is where you're 0:07:13.500 --> 0:07:16.380 just paying interest and you're not bringing down any of 0:07:16.380 --> 0:07:18.390 the mortgage balance. So obviously if it's your home you're 0:07:18.390 --> 0:07:20.040 living in, you don't want to be doing that. You 0:07:20.040 --> 0:07:21.480 want to be bringing down your mortgage, get paid off 0:07:21.480 --> 0:07:24.089 as soon as possible, happy days. You enjoy your retirement 0:07:24.090 --> 0:07:27.179 with no mortgage. With a rental property, you want to 0:07:27.179 --> 0:07:29.219 get as much rental income out of that and at 0:07:29.219 --> 0:07:30.510 the end of the day when you get to the end of 0:07:30.779 --> 0:07:32.400 the term, you're ready to retire and you don't need 0:07:32.400 --> 0:07:33.750 it anymore, you can just sell it and you'll still 0:07:33.750 --> 0:07:36.450 have that, fingers crossed, your property values went up a 0:07:36.450 --> 0:07:38.370 little bit as well. So you kind of get that win- 0:07:38.370 --> 0:07:40.530 win from hope, a little bit of an equity boost and also 0:07:40.530 --> 0:07:41.550 the rental income as well. 0:07:41.730 --> 0:07:43.320 Amazing. I think that's good to know for people. I 0:07:43.320 --> 0:07:45.209 think there's all kinds of mortgage products and it can 0:07:45.210 --> 0:07:47.459 be so confusing. But you breaking it down if you're 0:07:47.459 --> 0:07:49.650 going down that route for an investment property, that makes 0:07:49.650 --> 0:07:52.380 sense there. But let's kind of bring it back. So 0:07:52.410 --> 0:07:54.210 someone who wants to get second property in general, whether 0:07:54.210 --> 0:07:55.920 they want to get it for investment or just for 0:07:55.920 --> 0:07:58.620 them to have themselves, what would you recommend that people 0:07:58.620 --> 0:08:00.960 keep in mind when they are coming to actually make 0:08:00.960 --> 0:08:01.649 this decision? 0:08:02.130 --> 0:08:04.170 So if they're moving up the property ladder, I think one of 0:08:04.740 --> 0:08:06.750 the biggest things, especially with the way rates are just 0:08:06.750 --> 0:08:08.220 now, a lot of people will be used to low 0:08:08.220 --> 0:08:11.310 rates. We've had low rates for about 10 years, so 0:08:11.310 --> 0:08:13.740 anyone who's going to take that next step now is 0:08:13.740 --> 0:08:14.969 going to get a little bit of a shock on 0:08:14.970 --> 0:08:17.099 how much higher the interest rates are. If you're getting 0:08:17.099 --> 0:08:19.710 a bigger house, tends to be a bigger mortgage, which 0:08:19.740 --> 0:08:23.340 automatically mean a bigger monthly payment, more electricity, higher council 0:08:23.340 --> 0:08:25.860 tax. There's a lot of things you have to consider 0:08:25.860 --> 0:08:28.530 about your budget. So the main thing people need consider 0:08:28.530 --> 0:08:30.480 is speak to someone like ourselves or even have a 0:08:30.480 --> 0:08:33.419 little look online on calculators and things to see is 0:08:33.420 --> 0:08:36.150 that property even just going to be affordable even with 0:08:36.150 --> 0:08:38.400 whether it's a change in income or you're needing that 0:08:38.490 --> 0:08:41.429 extra space, is it affordable? Because that's the most important thing, 0:08:41.429 --> 0:08:44.370 is making sure that property is affordable for you, whether 0:08:44.370 --> 0:08:47.280 it be. And also if you're buying a bigger property, 0:08:47.280 --> 0:08:51.330 you're probably going to have higher stamp duties, another thing, higher solicitor costs, 0:08:51.719 --> 0:08:54.059 furnishing other rooms. There's a whole lot of other costs 0:08:54.059 --> 0:08:55.589 and things you need to think about. So it's that 0:08:55.860 --> 0:08:59.219 monthly budget you're thinking about as well as the upfront cost. 0:08:59.340 --> 0:09:01.170 I love the fact that you mentioned affordability because I 0:09:01.170 --> 0:09:03.660 think it's great to be in a property ladder, number one. And if you 0:09:03.660 --> 0:09:06.960 can move up, and that's another great achievement, but it 0:09:06.960 --> 0:09:09.838 is making sure that you don't overextend yourself just for the 0:09:09.840 --> 0:09:11.610 sake of being able to say, " I've got two properties 0:09:11.610 --> 0:09:13.439 now instead of just one". It is like you said, 0:09:13.440 --> 0:09:15.720 it's fracturing in and making sure have I figured out 0:09:15.929 --> 0:09:18.238 because like you said, now I'm getting two mortgages and not just 0:09:18.270 --> 0:09:21.120 one. Now there's double the expenses. Can I actually physically 0:09:21.120 --> 0:09:21.600 afford this? 0:09:21.600 --> 0:09:24.030 And if it is an additional property you're going down. 0:09:24.059 --> 0:09:27.360 You've also got to think about have you got time and is it worth 0:09:27.360 --> 0:09:30.420 the hassle as well? Because being a landlord is a 0:09:30.719 --> 0:09:33.149 great idea. It's about do you have the time to 0:09:33.150 --> 0:09:35.669 manage that property as well? Because as much as you 0:09:35.670 --> 0:09:37.260 can get letting agents and things to do it, but 0:09:37.260 --> 0:09:39.929 that will bring down what you make in the end. So it's 0:09:39.929 --> 0:09:43.500 about thinking about do you have that time, patience, the 0:09:43.500 --> 0:09:46.110 stress levels to deal with that as well as the 0:09:46.110 --> 0:09:47.130 finances behind it. 0:09:47.130 --> 0:09:49.469 Yeah, I completely agree with you. So Liam, I want 0:09:49.469 --> 0:09:51.629 to end the episode how I always end it, asking 0:09:51.660 --> 0:09:54.540 our quests the same question. What are your top three 0:09:54.540 --> 0:09:56.670 tips? Help our listeners get a little bit richer. 0:09:56.910 --> 0:10:00.958 Yeah, sure. So not being biased, but the first one I would say is 0:10:00.960 --> 0:10:03.480 speak to a broker. Whether it's ourselves or somebody else, 0:10:03.990 --> 0:10:06.150 you compare your car insurance, you compare your home insurance, 0:10:06.150 --> 0:10:08.729 you compare everything. Your mortgage is the biggest loan you're 0:10:08.730 --> 0:10:10.770 ever going to have. Compare it when your product comes 0:10:10.770 --> 0:10:13.230 to an end. We've got all the lenders, we look across 0:10:13.230 --> 0:10:15.030 them all. We do this day in, day out, we 0:10:15.030 --> 0:10:17.820 know what we're looking for. So to save as much 0:10:17.820 --> 0:10:20.670 money as possible, get that lowest rate, go with whoever 0:10:20.670 --> 0:10:22.650 the best lender is at that time. It will change 0:10:22.650 --> 0:10:24.870 probably in two years, five years time when you look again. 0:10:25.170 --> 0:10:26.368 But that's what we are here for. We want to 0:10:26.370 --> 0:10:28.799 save you as much money as possible, get your mortgage 0:10:28.799 --> 0:10:30.630 paid off as soon as possible so you can enjoy 0:10:30.630 --> 0:10:32.190 your retirement in your mortgage free home as soon as 0:10:32.190 --> 0:10:34.170 possible. Because that's the most important thing, that's the end 0:10:34.170 --> 0:10:38.160 goal. In regards to making money or saving money when 0:10:38.160 --> 0:10:41.819 you're selling and buying. When you're selling your home, it 0:10:41.820 --> 0:10:44.460 sounds daft and obvious, but if you're taking that next 0:10:44.460 --> 0:10:47.309 step in the property ladder just to cosmetic stuff when 0:10:47.309 --> 0:10:49.559 you're selling, if there's little jobs that are kind of 0:10:49.559 --> 0:10:53.368 outstanding or superficial things that need done to make it 0:10:53.370 --> 0:10:55.380 look that little bit better and that little bit more 0:10:55.380 --> 0:10:57.478 marketable, do it, pay that little bit extra because that 0:10:57.480 --> 0:11:00.420 little few hundred pounds might be a few thousand pounds 0:11:00.420 --> 0:11:02.040 in somebody else's eyes. Because they don't have to do 0:11:02.040 --> 0:11:03.870 it, they don't have the hassle. So when you're coming 0:11:03.870 --> 0:11:06.299 to sell the property, just make it as beautiful and 0:11:06.299 --> 0:11:09.270 as marketable as possible so that you're getting the most 0:11:09.270 --> 0:11:11.400 for what you're selling it for. Because again, it's a 0:11:11.400 --> 0:11:14.160 knock on impact on hopefully getting you that little bit 0:11:14.220 --> 0:11:16.770 of a better property at the other end. And last but not least, 0:11:16.770 --> 0:11:19.980 when you're looking to buy your property, your next one, 0:11:19.980 --> 0:11:22.469 whether it be an investment or whether it be your 0:11:22.469 --> 0:11:25.679 next step on the ladder, negotiate. Don't just, if you 0:11:25.679 --> 0:11:28.230 see a property there, use tools like Rightmove, how long 0:11:28.230 --> 0:11:30.929 has it been in the market for? The market is 0:11:30.929 --> 0:11:33.179 changing again, in the last two years it's been very, 0:11:33.179 --> 0:11:35.580 very hot. Property's going in two, three weeks really, really 0:11:35.580 --> 0:11:40.468 quick. It's starting to change again and normalize. So don't 0:11:40.469 --> 0:11:43.890 just think that you have to go anywhere with your maximum offer, negotiate 0:11:43.890 --> 0:11:45.750 it, put a low offer in first. The worst thing that can happen 0:11:46.050 --> 0:11:48.300 is it gets rejected, and then you go in again 0:11:48.300 --> 0:11:50.699 and you go in again. So the three things there 0:11:50.700 --> 0:11:52.889 are obviously saving on your mortgage, using somebody like a 0:11:52.889 --> 0:11:55.500 broker to get the best monthly payment in your mortgage. 0:11:56.040 --> 0:11:58.708 Next one, when you're selling your property, getting as much money 0:11:58.708 --> 0:12:00.360 as you can for your old one. So just making 0:12:00.360 --> 0:12:03.630 sure all those cosmetics touches are nice and tidy, photos 0:12:03.630 --> 0:12:05.190 and things. And I'm sure the estate agent will help 0:12:05.190 --> 0:12:06.929 you with this as well. And then when you're putting 0:12:06.929 --> 0:12:09.150 in offers, don't be shy, don't think you have to. Whatever the 0:12:10.139 --> 0:12:11.940 agent has told you or the person selling that's told 0:12:11.940 --> 0:12:13.710 you put an offer in. The worst thing that can 0:12:13.710 --> 0:12:14.549 happen is they say, no. 0:12:14.670 --> 0:12:16.649 I love those. Those tips are really good, especially the 0:12:16.650 --> 0:12:19.559 one negotiate. I'm always saying this, make sure you negotiate. Don't always take 0:12:19.950 --> 0:12:21.990 the first price you're given, see what you can get. And 0:12:21.990 --> 0:12:23.880 I said, " Don't go with your maximum offer, so if you 0:12:23.880 --> 0:12:25.380 can get it lower". If you have to get there, 0:12:25.380 --> 0:12:27.809 then you get there eventually, but you go in lower and see what 0:12:27.809 --> 0:12:30.270 you can get. You'd be surprised. Liam, this has been 0:12:30.270 --> 0:12:30.809 a great episode. 0:12:30.809 --> 0:12:30.989 Thank you. 0:12:30.990 --> 0:12:34.078 You've shared so many (inaudible) . Thank you so much for coming on. 0:12:34.529 --> 0:12:38.520 Next time I'm chatting all things credit. What is credit? 0:12:38.820 --> 0:12:40.770 What do we need to be careful of and can 0:12:40.770 --> 0:12:43.710 debt actually be a positive thing? We'll get into all 0:12:43.710 --> 0:12:45.689 of it, but while you wait, if A Little Bit 0:12:45.690 --> 0:12:47.639 Richer is helping you, then be sure to leave a 0:12:47.639 --> 0:12:51.059 review, hit follow and tell a friend. It all helps other people find 0:12:51.059 --> 0:12:52.649 us. See you next time.