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Speaker 1: She's on the Money. She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: Millennials who want Financial Freedom. Welcome back to another shot

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Speaker 2: back money Diary Monday, where Victoria and I get to

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Speaker 2: chat to one about gorgeous community members and learn about

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Speaker 2: their story and their journey and their struggles and everything

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Speaker 2: that happened in between. Victoria, I've got a good one

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Speaker 2: for you this week. I feel like I say that

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Speaker 2: every week, but I really.

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Speaker 3: Need to get a better introduction because every week we're like,

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Speaker 3: we've got a good one, and it's like, well, Jesse,

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Speaker 3: of course you do. You picked this on the show,

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Speaker 3: but you've been hyping this one up saying that I'm

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Speaker 3: really going to enjoy it before we actually started recording,

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Speaker 3: which is always a good sign. So without further do

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Speaker 3: Jess let me know what your money darist had written

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Speaker 3: into us.

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Speaker 2: So she said, She's on the Money. Helped me build

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Speaker 2: my first home completely on my own with some help

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Speaker 2: from some government schemes. I helped my partner build his

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Speaker 2: own home right around the corner, and then we also

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Speaker 2: purchased an investment property together in Adelaide at the end

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Speaker 2: of last year and we're able to take sixty thousand

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Speaker 2: dollars each inequity on our bills. So what Yeah, exactly right,

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Speaker 2: little property mogul over here. I'm very excited as someone

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Speaker 2: who's going through the God, I love that to hear

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Speaker 2: about it. Money Diarist, Hello.

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Speaker 3: Hi, Rick and Jess.

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Speaker 4: Lovely to meet you.

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Speaker 3: Lovely to meet you as well, and thank you for

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Speaker 3: coming on the show. I'm so excited about this. You're

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Speaker 3: like a property mogul and you're like twelve years old.

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Speaker 3: It's great. Let's get straight into it. Can you tell

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Speaker 3: us a little bit about your money story?

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Speaker 4: So my money story growing up, there wasn't really anything.

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Speaker 4: I grew up in a family where they didn't discuss

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Speaker 4: finances or anything like that. And my parents separated when

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Speaker 4: I was eighteen, so it wasn't like it was difficult.

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Speaker 4: While I was growing up, we'd go on holidays every

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Speaker 4: year and we'd always travel, and they didn't really have

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Speaker 4: any investments. They never spoke about shares because they didn't

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Speaker 4: invest in any. But then, yeah, I went through a

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Speaker 4: breakup at one point and I thought, let's start listening

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Speaker 4: to podcasts to spice up our life. And I remember

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Speaker 4: listening to the first episode or She's on the Money.

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Speaker 4: I was like around summer twenty nineteen from memory, and yeah,

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Speaker 4: I just was really distracted by the podcast and I've

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Speaker 4: dedicated my whole life to listening to it.

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Speaker 3: So then, oh, my god, what it's really sad?

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Speaker 4: Sad say that to.

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Speaker 3: Me, Like, oh, it was really fad. I heard of

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Speaker 3: this podcast, She's on the Money.

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Speaker 4: I will tell everyone about it, and I would like

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Speaker 4: count down the hours to like listen to it, like

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Speaker 4: She's on the Money episode tomorrow. So I'm like, yeah,

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Speaker 4: it really just changed my perspective on everything, and I

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Speaker 4: started being really savvy with saving. And you know, I'd

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Speaker 4: always been like I'm Greek, so I am naturally a

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Speaker 4: savor and I'm kind of stingy, but you know, she's

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Speaker 4: on the money. She's on the money, like just encouraged

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Speaker 4: me to do something about that and actually learn what

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Speaker 4: investing was and how to do it, which was really helpful.

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Speaker 3: I can't tell you how much that means. Honestly, obviously

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Speaker 3: I'm quite biased. I also tell everybody about and She's

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Speaker 3: on the Money, but it is for different reasons. But

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Speaker 3: it honestly makes me so happy when I find out

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Speaker 3: that our community genuinely gets a lot out of it personally.

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Speaker 3: It's not just like, oh, hey, ve really love listening

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Speaker 3: to the podcast and I'd be like great, but like

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Speaker 3: the fact that it has impacted your life so significantly, Like, oh,

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Speaker 3: I love it anyway, let's stop talking about that. I

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Speaker 3: want to know the more pervy details. So, my friend,

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Speaker 3: what do you do for work? And how much money

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Speaker 3: do you earn?

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Speaker 4: So I'm a lawyer. I was just recently. Yeah, it

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Speaker 4: was around the end of last year, so I'm still

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Speaker 4: coming to terms with the salary. I'm on ninety thousand

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Speaker 4: plus super so it's still, you know, a first year

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Speaker 4: lawyer position. But I think that's great.

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Speaker 3: Men plus is a good inning.

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Speaker 4: I'm pinching myself every day, like how do I deserve this? No?

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Speaker 3: You, you don't have to pinch yourself over that. Can

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Speaker 3: you remind us how old you are? Money diarist, I'm

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Speaker 3: twenty five? No, see exactly, she's like twelve, yess. I

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Speaker 3: was like, and she has investment properties and she's a lawyer.

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Speaker 3: Like if this isn't badass energy, I don't know what

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Speaker 3: it is.

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Speaker 2: I've been thinking as well that as a lawyer you

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Speaker 2: are you get incremental increases annually right to your salary.

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Speaker 3: Yeah.

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Speaker 4: Correct. Because of COVID it kind of dropped to around

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Speaker 4: two percent, but yeah, yeah it's around that mark.

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Speaker 3: Incredible And are you happy with that? Like, I know

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Speaker 3: a lot of people like, oh, I only get X

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Speaker 3: y Z, Like, how does that make you feel knowing

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Speaker 3: that that's part of the agreement.

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Speaker 4: I love that because I know my salary is going

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Speaker 4: to increase even if I stay in the same position

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Speaker 4: i'm in, So it's really nice to know.

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Speaker 3: It's nice to know that you're not going to be

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Speaker 3: behind even if you stay in the same role, because

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Speaker 3: obviously with indexation, everything over time is going to get

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Speaker 3: more expensive. So yeah, I absolutely love it. I feel

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Speaker 3: like it is fair, Like I feel like everyone should

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Speaker 3: be doing that. Yeah, I would go on about that

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Speaker 3: too much money, Darist. It sounds like you've already achieved

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Speaker 3: a number of really big goals. But what are your

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Speaker 3: big money goals at the moment and how are you

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Speaker 3: planning to achieve them?

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Speaker 4: So I have small money goals at the moment. I

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Speaker 4: think I really need to buy a car. I'm like you, Victoria,

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Speaker 4: I just drive the worst car ever. The sunarof won't close.

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Speaker 3: Excuse me, my car is not the worst car ever.

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Speaker 3: She is a tried and true and a sturdy beast.

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Speaker 4: Okay, mine's not good. So using the equity that I've

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Speaker 4: just taken out, I'm going to buy a car and

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Speaker 4: then I live in Geelong at the moment, so I'm

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Speaker 4: hoping to move back to Melbourne and buy a house

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Speaker 4: at the end of the year.

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Speaker 3: Oh my gosh. Exciting. Will you be doing that with

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Speaker 3: your partner? Yes, very very exciting. So next question, and

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Speaker 3: I feel like we know some of the answer to this,

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Speaker 3: but you can answer it a little bit more holistically

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Speaker 3: for us. Do you currently have any investments?

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Speaker 4: Yes? So I have a property in my own name

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Speaker 4: in July, like, not shared.

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Speaker 3: With your partner at all. No, and you're twenty five. Yes,

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Speaker 3: so you have a property in your name?

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Speaker 4: Any other investments, joint property with my partner, an investment

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Speaker 4: and just super Oh my gosh.

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Speaker 3: Can you tell us a little bit about the property

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Speaker 3: that you have in your own name? How did you

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Speaker 3: save for it, how did you get into the market,

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Speaker 3: how have you done it? Please tell us the steps.

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Speaker 4: So all the grants that you can possibly think of

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Speaker 4: available to a first home buyer I have used them,

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Speaker 4: so First Home Super Saver I was putting my money

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Speaker 4: into their own salary, sacrificing smart woman.

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Speaker 3: The grants.

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Speaker 4: So not only did I receive twenty thousand for building regionally,

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Speaker 4: I also organized it at the time that they were

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Speaker 4: having the COVID grant where you could get twenty thousand

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Speaker 4: dollars for building, so that happened no stamp duty. And

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Speaker 4: then also the five percent deposit that I only needed

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Speaker 4: to put in five percent.

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Speaker 3: Oh my gosh, so how did you also tell us

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Speaker 3: the deeds? I need to know. How did you save

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Speaker 3: the five percent? Yeah?

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Speaker 4: So it was really all in the First Home Super Saver,

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Speaker 4: So I think I took out thirty thousand, but then

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Speaker 4: after tax it became around twenty four or twenty six thousand,

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Speaker 4: I can't remember exactly. So that was pretty much enough

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Speaker 4: for my deposit, and I think I had on top

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Speaker 4: of that a ten grand leeway as well.

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Speaker 3: Oh awesome, and more pervy details. Please, I do apologize,

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Speaker 3: but I know everybody is desperate to know how much

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Speaker 3: did your property cost and what type of mortgage you

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Speaker 3: sitting on? Now I have this, Oh my gosh, do

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Speaker 3: you actually have it already? As of course, she looks

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Speaker 3: like she's one of those people that would be super

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Speaker 3: prepared for everything. I love it.

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Speaker 4: So I built my house for four hundred and fifteen

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Speaker 4: thousand dollars.

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Speaker 3: Oh cool.

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Speaker 4: Yeah, it was a really cheap It's a four bedroom.

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Speaker 4: But the area is an it's a new growing area,

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Speaker 4: so not many houses around, so the land.

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Speaker 3: Was pretty cheap. That's okay.

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Speaker 4: Yeah, And it finished in November twenty twenty one. If

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Speaker 4: you count the flooring and fencing and landscaping that I

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Speaker 4: did on my own, i'd probably say I spent all

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Speaker 4: up four hundred and twenty five thousand.

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Speaker 2: That's horenible. That is such a good price for a

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Speaker 2: property that.

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Speaker 3: Is really a peag deal.

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Speaker 4: And this was paused just in July twenty twenty, so

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Speaker 4: I think it was when people weren't really buying anything

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Speaker 4: yet and the market hadn't kind of risen. And my

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Speaker 4: mortgage currently is three hundred and ninety eight thousand, but

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Speaker 4: I'm about to take out some equity.

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Speaker 3: Very cool. Oh my gosh, you sound like a hustler.

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Speaker 3: I love this. And the reason I ask all these

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Speaker 3: questions is because I think a lot of people make

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Speaker 3: these grand assumptions and I'm sure you would get this

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Speaker 3: as well, like, oh my gosh, well she's twenty five

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Speaker 3: and has a property. Therefore her parents must have just

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Speaker 3: guaranteed that and like bankralled it. And so I really

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Speaker 3: like knowing those pervy details because property feels so far

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Speaker 3: off for so many of us, but we really need

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Speaker 3: to see it nowadays as stepping stones, like you're not. Unfortunately,

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Speaker 3: I'm sorry to you know, burst the bubble for anyone listening.

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Speaker 3: But you're not going to get into your family home first,

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Speaker 3: Like I remember talking to my dad about his first

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Speaker 3: property and how cheap it was and what they bought

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Speaker 3: it for and what the mortgage on it was, and

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Speaker 3: that it was basically a family home, like it bought

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Speaker 3: this big, three bedroom place with two laundrooms and it

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Speaker 3: was stunning. And I'm looking at it, going Dad, like,

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Speaker 3: no one can afford that nowadays, Like that's not the expectation.

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Speaker 3: Can you tell us a little bit, you know, I'm

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Speaker 3: going a bit rogue at the moment, But did you

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Speaker 3: purchase that with the intention of leasing it out the

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Speaker 3: whole time or were you planning on moving it in

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Speaker 3: or was it always Okay, I'm going to get an

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Speaker 3: investment property, and then I'll get another one, and at

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Speaker 3: one point in the future maybe you'll buy a family home.

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Speaker 3: Like what's the strategy in your head when it comes

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Speaker 3: to property.

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Speaker 4: So I always went into it with the intention it

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Speaker 4: would be an investment. I didn't plan on living in

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Speaker 4: Geelong forever because I love Melbourne. So it was just

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Speaker 4: the forty five thousand that really I was attracted to,

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Speaker 4: and I got paid that in cash. So I literally

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Speaker 4: had forty five thousand in the bank after buying a property.

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Speaker 4: So I think a boyage intended to rent it out,

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Speaker 4: and you know, we've been fixing it and living there

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Speaker 4: and styling it and making it look nice, so then

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Speaker 4: we can rent it out at the end of the

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Speaker 4: year because we have received all the grants, I do

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Speaker 4: need to live there for the year before it can

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Speaker 4: become a rental.

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Speaker 3: Yeah, and that's totally okay, and that makes sense. And

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Speaker 3: I actually think that a lot of people don't consider

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Speaker 3: the tax benefits associated with doing that either. Like, if

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Speaker 3: you make a property a primary residence to begin with,

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Speaker 3: there is every possibility that you're not going to have

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Speaker 3: to pay capital gains tax on that property for the

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Speaker 3: next seven years. If you purchase it and then you know,

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Speaker 3: decide to sell it for some reason, which is very

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Speaker 3: sexy if you ask me, because I'm making a grand

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Speaker 3: assumption money diarist, that that property is already worth more

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Speaker 3: than what you paid for it. Is that a fair

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Speaker 3: assumption to make, given you disclosed the location to me

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Speaker 3: and I know what and Geelong is looking like at

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Speaker 3: the moment.

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Speaker 4: That is a fair assumption to make, Victoria. So it

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Speaker 4: was just valued by the bank, which usually they're quite

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Speaker 4: low in their valuations. At five hundred and seventy five thousand, Wow.

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Speaker 3: You're basically making money and you haven't even lived very year,

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Speaker 3: which she doesn't even need to lease it out for

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Speaker 3: that to be a good investment.

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Speaker 2: Jess. Yeah, that's incredible. Just goes to show what the

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Speaker 2: market has done over the last couple of years, doesn't

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Speaker 2: it so wild?

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Speaker 3: Oh my gosh, I'm so proud of you. And then,

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Speaker 3: oh my gosh, the property with your partner. Tell us

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Speaker 3: a little bit. How did that happen? How did you

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Speaker 3: save for that one? Did you use equity? Please just

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Speaker 3: give us the pervy details.

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Speaker 4: So the equity for this property, we're stealing the process

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Speaker 4: of getting it out, so I think it's coming in

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Speaker 4: my bank tomorrow sixty thousand. But with the Adelaine property,

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Speaker 4: I use the forty five thousand I received from the

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Speaker 4: grants to purchase that one, and he used the same.

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Speaker 4: So we both combined the grants we had received. He

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Speaker 4: received life and me because he's property was more expensive

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Speaker 4: than mine. And yeah, we combine that and we used

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Speaker 4: it to purchase the property in Adelaide.

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Speaker 3: My gosh, yes, they're rich millennial. I love it. It

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Speaker 3: makes me so happy to have these conversations with people

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Speaker 3: that are like No, I saved up and I learned

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Speaker 3: about the grants, and I worked out how this was

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Speaker 3: going to work for me and work for my situation, because,

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Speaker 3: as I said before, I think a lot of us

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Speaker 3: just make the grand assumption that property is unachievable and

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Speaker 3: it's not going to happen, or we need a parent

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Speaker 3: or a guaranty to make these things happen, and it's

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Speaker 3: just not the reality. Like, we just need to put

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Speaker 3: our heads down, and sometimes this is going to sound

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Speaker 3: a little bit mean, sometimes really lower our expectations to

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Speaker 3: what we can actually afford and view it as that

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Speaker 3: stepping stone home as opposed to your future family home.

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Speaker 3: That you see you having three kids and a dog,

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Speaker 3: in which you know what we all want that I

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Speaker 3: get it. Next question and we know the answer to

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Speaker 3: this when it comes to mortgages, but do you have

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Speaker 3: any debts?

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Speaker 4: Yes, so two mortgages at the moment, and then we'll

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Speaker 4: have the third. That's the equity that I'm releasing, so

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Speaker 4: that will be in the form of the mortgage as well.

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Speaker 3: How exciting. Yeah, it's not bad debt though, none of

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Speaker 3: your debts are bad debt because they're all creating wealth

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Speaker 3: for you, which is very, very exciting. The next question

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Speaker 3: to pivot away from debt and to pivot away from

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Speaker 3: property to one of my favorite topics. Do you shop back?

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Speaker 4: I haven't downloaded on my phone. I know the Money

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Speaker 4: Diarist recently said that as well, but I just I'd

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Speaker 4: never shop to be honest.

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Speaker 3: Who is she?

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Speaker 2: She's spending money on houses.

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Speaker 3: That's why I couldn't afford a house at twenty five,

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Speaker 3: because I absolutely was shopping online and she's like, I'm sorry,

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Speaker 3: you're crazy, Victoria.

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Speaker 4: So my partner works at a head office where he

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Speaker 4: gets fifty percent off their clothing, So I shop there sometimes, yes,

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Speaker 4: but please mainly op shopping. So everything I wear is

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Speaker 4: pretty much from an upshop.

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Speaker 3: Oh my god, I.

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Speaker 2: Love and no one can see you, but you look

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Speaker 2: very cute.

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Speaker 3: Thank you. No, she's very chic. I would never have

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Speaker 3: guessed give us your hold on. No, no, no, I

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Speaker 3: was gonna ask you for your best op shopping tips.

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Speaker 3: But we'll do that after the break because Jess is

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Speaker 3: looking at me like Victoria's still going rogue. Next question

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Speaker 3: is what is your best money habit? Please share it

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Speaker 3: with us. I feel like we can learn a lot.

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Speaker 4: So I think opshopping is probably my best money habit.

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Speaker 4: So everything I own, like I said, it's from an

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Speaker 4: opshop and just being really frugal and saving where.

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Speaker 3: I can genius. I love it to bring it down

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Speaker 3: a notch a little bit, to make this money dry

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Speaker 3: slightly more relatable because I think everyone's looking at you going,

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Speaker 3: she's genius, she's perfect. What's your worst money habit?

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Speaker 4: So there's actually two one of them. I'm terrible with

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Speaker 4: budgeting and I'm no, you're.

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Speaker 3: Not not believing that I don't bought a house.

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Speaker 4: At the moment. I can't save anything, so I haven't

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Speaker 4: really reevaluated what's coming in and what's going out and

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Speaker 4: that's something I need to do like right.

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Speaker 3: Now, and yeah, okay, yeah.

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Speaker 4: So that's one. And then my partner is also my

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Speaker 4: worst money habit because he encourages takeaway all the time

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Speaker 4: and it's terrible. He'll be like, don't you feel like

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Speaker 4: getting dominates tonight? And it's like, not really, but you'll

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Speaker 4: talk me into it somehow.

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Speaker 3: Oh my gosh, a man after my own heart. I

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Speaker 3: can always be talked in to Takeaway. It's really really bad.

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Speaker 3: Next money question and final one before we go to

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Speaker 3: a quick break. If we asked you to give yourself

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Speaker 3: a grade when it comes to your money habits, what

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Speaker 3: would you grade yourself?

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Speaker 4: I would say an A, because even though I'm not

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Speaker 4: the best at saving and budgeting, I'm constantly thinking about

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Speaker 4: ways to improve investments and just talking about money and

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Speaker 4: listening to the podcast. So I think my money attitude

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Speaker 4: is really positive and that's made me get an A

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Speaker 4: just by just constantly finding out what grants are out

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Speaker 4: there and how I can get ahead.

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Speaker 3: I love that. All right, let's go to a quick break.

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Speaker 3: I want to know all about op shopping right after this.

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Speaker 3: All right, we are back money direst you mentioned before

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Speaker 3: that you are really good at op shopping and you

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Speaker 3: look incredibly chee. So I want you to give us

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Speaker 3: your top tips for finding good quality, awesome items at

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Speaker 3: op shops, because I feel like sometimes when I go

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Speaker 3: op shopping, I'm like there's nothing here that I like

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Speaker 3: or there's nothing appropriate, Like there's some cute stuff that

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Speaker 3: I want, but it's not you know, what I need

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Speaker 3: for work. So tell me how you approach this and

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Speaker 3: how everybody else in our community should be as well.

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Speaker 4: Yes, so I only opshop at one. It's called Savers.

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Speaker 3: If you've had Yes, my mum is the biggest fan

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Speaker 3: of Savers in the entire universe, and I'm pretty sure

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Speaker 3: her entire world shattered when the one closest to her

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Speaker 3: house shut.

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Speaker 4: Yeah, which I think I know about that.

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Speaker 3: It was the one in Frankston. Yeah, okay, Yeah, the

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Speaker 3: one in Frankston closed and she was not happy about

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Speaker 3: it because Mum and Dad, you know, just to get

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Speaker 3: a little bit pervy on the podcast Live on the

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Speaker 3: Morning to Peninsula and she'd have to drive up to that.

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Speaker 3: Now if she wants to go to a Saver, she

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Speaker 3: has to drive even further.

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Speaker 4: Yeah, Well, personally, I go to the Brunswick Lan that's

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Speaker 4: like the closest to me, I suppose, And I find

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Speaker 4: that their clothes are really good, and I think it's

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Speaker 4: quantity over quality. So they just have so many clothes

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Speaker 4: in there, You're bound to find something that you like.

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Speaker 4: And I always find, you know, pretty little thing and

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Speaker 4: she for some reason, everyone just takes their clothes there.

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Speaker 4: So I've just been really lucky going there and finding

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Speaker 4: things that are actually in fashion as well.

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Speaker 3: Oh my gosh, that is so good. And to add

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Speaker 3: my own I guess little tip to this and maybe

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Speaker 3: money doors you will agree with this, But I feel

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Speaker 3: like op shopping isn't something that you can just pop into,

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Speaker 3: like you actually have to go and have a look

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Speaker 3: through all the items. Like you can't just like pop

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Speaker 3: into the shop, have a quick brow, see nothing, walk

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Speaker 3: straight out, like you actually have to sift through all

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Speaker 3: of the clothes and see if anything really takes your

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Speaker 3: fancy and try things on. Like it's not like a

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Speaker 3: five minute pop into the shop's kind of adventure, is it? No?

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Speaker 4: And I'm even more frugal in that I go when

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Speaker 4: it's fifty percent off, like.

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Speaker 3: Oh, she's family is me for it?

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Speaker 4: I'm like, what is wrong with you. They're already cheap,

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Speaker 4: and you're going when they're fifty percent off. But Savers

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Speaker 4: have regular days where it's fifty percent off. We just

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Speaker 4: missed it on the Tuesday that passed.

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Speaker 3: I couldn't go.

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Speaker 4: But yeah, and I feel like a professional sifting through

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Speaker 4: every single aisle because I know that I might miss

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Speaker 4: something if I don't go through every aisle. So you

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Speaker 4: literally have to spend hours there going through every bit

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Speaker 4: of clothing.

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Speaker 3: Oh my gosh, she's committed, but she's chic and she's

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Speaker 3: very very cute guys, so it is absolutely worth checking

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Speaker 3: out Savers. I this isn't sponsored by Savers either. We're

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Speaker 3: just fucking passionate about this store.

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Speaker 2: Speaking of I want to talk a little bit because,

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Speaker 2: like I said, I'm going through this process right now.

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Speaker 2: You said you made the most of like every government

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Speaker 2: grant that is out there, and the timing for you

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Speaker 2: things like was really well aligned. Did you do all

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Speaker 2: the research for that by yourself or did you go

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Speaker 2: through a broker who helped you access and figure out

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Speaker 2: which of those you were eligible for.

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Speaker 4: That's a great question. So she's on the money. Obviously,

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Speaker 4: had so much content out there at the time as well,

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Speaker 4: and just doing my own research. To be honest, I

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Speaker 4: spoke to I think five brokers, and most of them

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Speaker 4: had no idea what I was talking about. I've had

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Speaker 4: a lot of bad experiences with brokers, like most recently

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Speaker 4: with the Adelaide property. We wanted to pay five percent

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Speaker 4: deposit because I'm a lawyer now, but there was a

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Speaker 4: mix up and they still made us pay ten percent.

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Speaker 4: Oh so yeah, I have had bad experiences with them.

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Speaker 4: But yeah, I had a few brokers tell me you

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Speaker 4: can't do this on your own. A few of them said,

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Speaker 4: you know, you'll need your partner to help out, and

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Speaker 4: I said, no, I really just want to do it myself.

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Speaker 4: So yeah, the research was really just done by me only.

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Speaker 3: I actually hate that so much. It makes me so angry.

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Speaker 3: And I'm probably even more triggered by this conversation because

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Speaker 3: I literally was speaking to Jess about this yesterday. Jess,

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Speaker 3: what did the brokers say to you yesterday that you

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Speaker 3: were working with?

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Speaker 2: Yeah, look, it was not he didn't mean to be rude.

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Speaker 2: I think it's just definitely an example of people being

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Speaker 2: ignorant of the impact that their words have. But I

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Speaker 2: got some not so great use in my little property

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Speaker 2: journey at the moment, and the broker couldn't get me

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Speaker 2: what I was asking for, which is fine, but he

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Speaker 2: did make the comment of maybe it's time to get

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Speaker 2: a partner haha, and I was like, my dude, I

438
00:21:43,119 --> 00:21:45,320
Speaker 2: already have one. That's not the point, Like, I don't

439
00:21:45,400 --> 00:21:47,240
Speaker 2: want to leverage a partner. I want to do it

440
00:21:47,280 --> 00:21:49,919
Speaker 2: by myself. And you can do it. I can do it.

441
00:21:50,040 --> 00:21:52,000
Speaker 2: Any female out there can do it. It's just really

442
00:21:52,040 --> 00:21:56,320
Speaker 2: frustrating when we have to beat our head against those stereotypes.

443
00:21:56,359 --> 00:21:58,320
Speaker 2: And I think you're right. I've spoken to a couple

444
00:21:58,320 --> 00:22:01,440
Speaker 2: of brokers in my journey so far, and we talk

445
00:22:01,480 --> 00:22:03,600
Speaker 2: about them all the time. A good broker is worth

446
00:22:03,640 --> 00:22:07,159
Speaker 2: their weight in gold, but a bad broker can be

447
00:22:07,240 --> 00:22:09,760
Speaker 2: really painful to deal with, which is it's so hard

448
00:22:09,800 --> 00:22:11,200
Speaker 2: because how do you know? Right?

449
00:22:11,440 --> 00:22:14,640
Speaker 3: I just really want to disclaimed this guys, that Jess

450
00:22:14,640 --> 00:22:16,640
Speaker 3: went through a broker that one of her girlfriends used,

451
00:22:16,760 --> 00:22:19,080
Speaker 3: not a broker that she's on the money recommended, because

452
00:22:19,080 --> 00:22:21,120
Speaker 3: we obviously have a panel of brokers that I love

453
00:22:21,160 --> 00:22:23,760
Speaker 3: and adore that Jess is now going to speak to.

454
00:22:25,040 --> 00:22:27,760
Speaker 3: But you went through someone that was recommended, which totally

455
00:22:27,800 --> 00:22:29,720
Speaker 3: made sense because Jess, you're buying in an area that

456
00:22:29,760 --> 00:22:31,600
Speaker 3: one of your girlfriends has already bought, and so that

457
00:22:31,640 --> 00:22:34,480
Speaker 3: broker absolutely knew the area. It just didn't work out

458
00:22:34,520 --> 00:22:37,120
Speaker 3: for the best. And I think that that's why I'm

459
00:22:37,160 --> 00:22:40,520
Speaker 3: so passionate about it. Like I remember you setting it up, Jess,

460
00:22:40,520 --> 00:22:41,920
Speaker 3: and you're like, yep, I've got this broker. And I

461
00:22:41,960 --> 00:22:44,120
Speaker 3: was like, great, Like what's he like? Let me stalk him,

462
00:22:44,280 --> 00:22:46,919
Speaker 3: like I was an overprotective mother to you, and I

463
00:22:46,960 --> 00:22:48,919
Speaker 3: was like, tell me about him, what are his credentials,

464
00:22:49,040 --> 00:22:51,240
Speaker 3: what type of broking does he do? Show me his website?

465
00:22:51,280 --> 00:22:53,520
Speaker 3: And you were like, Petrea, I love my mother. And

466
00:22:53,560 --> 00:22:55,080
Speaker 3: I was like, okay, I get it. I'll step back.

467
00:22:55,119 --> 00:22:58,000
Speaker 3: I'm so sorry, but now it hasn't worked out so well.

468
00:22:58,119 --> 00:22:59,959
Speaker 3: I just know that I would hate anyone in now

469
00:23:00,119 --> 00:23:02,639
Speaker 3: she's on the money community to have that experience, because

470
00:23:02,640 --> 00:23:04,760
Speaker 3: we all deserve respect. And if you've said I want

471
00:23:04,760 --> 00:23:06,479
Speaker 3: to do this on my own, for someone to then

472
00:23:06,520 --> 00:23:09,240
Speaker 3: suggest maybe you should do it with someone else, it's like, well,

473
00:23:09,520 --> 00:23:11,760
Speaker 3: I came to you because I thought that you'd respect

474
00:23:11,800 --> 00:23:14,440
Speaker 3: where I was and help me and my personal situation,

475
00:23:14,960 --> 00:23:18,040
Speaker 3: not try and change my personal situation, so it's easier

476
00:23:18,080 --> 00:23:20,719
Speaker 3: for you, Like that's just to me, not on And

477
00:23:20,760 --> 00:23:23,520
Speaker 3: it really frustrates me because there are so many young

478
00:23:23,520 --> 00:23:25,600
Speaker 3: women who want to purchase on their own and who

479
00:23:25,640 --> 00:23:28,600
Speaker 3: have saved for so long and sacrificed so much that

480
00:23:28,600 --> 00:23:30,439
Speaker 3: it's just to kick in the guts when someone's like,

481
00:23:30,800 --> 00:23:34,960
Speaker 3: maybe you could consider buying with a partner. Yeah, no, Ondred, no,

482
00:23:35,040 --> 00:23:35,840
Speaker 3: get in your box.

483
00:23:36,040 --> 00:23:38,080
Speaker 2: And money jis when you did all of that research

484
00:23:38,160 --> 00:23:40,360
Speaker 2: by yourself, Like outside of the pod which you said

485
00:23:40,359 --> 00:23:42,800
Speaker 2: you listened to, which we obviously love, where were you

486
00:23:42,840 --> 00:23:45,280
Speaker 2: looking for that information to figure it out on your own?

487
00:23:45,560 --> 00:23:45,760
Speaker 3: Yeah.

488
00:23:45,800 --> 00:23:49,359
Speaker 4: So it's a combination of the money Smart website and

489
00:23:49,400 --> 00:23:52,240
Speaker 4: the atiro so, a lot of government websites explaining what

490
00:23:52,280 --> 00:23:56,040
Speaker 4: the first home super savor is and the new COVID

491
00:23:56,080 --> 00:23:59,040
Speaker 4: grant and just keeping up to date with those updates

492
00:23:59,480 --> 00:24:01,639
Speaker 4: and then all so a lot of Facebook groups and

493
00:24:01,760 --> 00:24:04,800
Speaker 4: communities as well. I would sometimes read the content that

494
00:24:04,840 --> 00:24:08,760
Speaker 4: they were posting and like search fkhss in the search

495
00:24:09,040 --> 00:24:11,240
Speaker 4: for the group, just so I can understand a bit

496
00:24:11,240 --> 00:24:11,920
Speaker 4: more about it.

497
00:24:12,119 --> 00:24:14,480
Speaker 2: Incredible And yeah, for anyone who is in a Facebook group,

498
00:24:14,520 --> 00:24:17,080
Speaker 2: particularly ours, if you're not there, come join us. But

499
00:24:17,200 --> 00:24:19,879
Speaker 2: the search bar is a great tool because if you

500
00:24:19,920 --> 00:24:22,760
Speaker 2: have a question, chances are somebody else has had that question.

501
00:24:22,880 --> 00:24:26,080
Speaker 2: So whether it's our group or somebody else's doing exactly

502
00:24:26,080 --> 00:24:29,320
Speaker 2: what you've done. Getting in there searching for keywords or questions,

503
00:24:29,680 --> 00:24:31,800
Speaker 2: you're probably going to turn up a wealth of knowledge.

504
00:24:32,160 --> 00:24:35,359
Speaker 3: And also just to shamelessly plug our other community that

505
00:24:35,440 --> 00:24:38,200
Speaker 3: I feel like is lesser well known but very relevant

506
00:24:38,200 --> 00:24:43,359
Speaker 3: in this conversation, our property playbook community ask property questions

507
00:24:43,440 --> 00:24:46,800
Speaker 3: all the time and are a wealth of knowledge and resources.

508
00:24:47,040 --> 00:24:49,080
Speaker 3: And there are actually a whole heap of brokers in

509
00:24:49,119 --> 00:24:51,480
Speaker 3: there who are answering questions and going, hey, I'm a

510
00:24:51,480 --> 00:24:53,280
Speaker 3: broke up not trying to get your business, but this

511
00:24:53,400 --> 00:24:56,160
Speaker 3: is how this works, which I adore and I feel

512
00:24:56,200 --> 00:24:58,840
Speaker 3: like is just so powerful because we're just trying to

513
00:24:58,840 --> 00:25:02,480
Speaker 3: help each other eve success. Like it just from my perspective,

514
00:25:02,760 --> 00:25:03,280
Speaker 3: makes sense.

515
00:25:03,400 --> 00:25:06,919
Speaker 2: My friends, you also said that you're looking to purchase

516
00:25:06,920 --> 00:25:09,840
Speaker 2: a car, which is super exciting, very fun. The car

517
00:25:09,880 --> 00:25:13,120
Speaker 2: market right now is hectic, Like I've seen a lot

518
00:25:13,119 --> 00:25:15,960
Speaker 2: of people talking about the fact that you know, depending

519
00:25:16,000 --> 00:25:17,960
Speaker 2: obviously on make and model and my legion, you know,

520
00:25:18,000 --> 00:25:20,040
Speaker 2: there's lots of nuance to it. But a lot of

521
00:25:20,040 --> 00:25:22,879
Speaker 2: people are finding that it's almost as expensive to buy

522
00:25:22,960 --> 00:25:25,560
Speaker 2: a secondan car as it is to buy a brand

523
00:25:25,600 --> 00:25:27,600
Speaker 2: new one. Have you done a lot of research, like

524
00:25:27,680 --> 00:25:28,960
Speaker 2: what's that looking like for you?

525
00:25:29,560 --> 00:25:33,320
Speaker 4: I have, And look, I'm not one hundred percent decided yet,

526
00:25:33,320 --> 00:25:35,760
Speaker 4: but I am leaning more towards buying a brand new car.

527
00:25:36,440 --> 00:25:41,119
Speaker 4: And that's a Volkswagen Polo, and they're about twenty five grand,

528
00:25:41,280 --> 00:25:44,639
Speaker 4: and then secondhand they're around twenty one twenty two grand,

529
00:25:45,200 --> 00:25:47,760
Speaker 4: So I'm just thinking I may as well just buy

530
00:25:47,800 --> 00:25:50,920
Speaker 4: a brand new one, have that five year warranty, try

531
00:25:50,920 --> 00:25:53,440
Speaker 4: and get a few thousand dollars off it. And I'm

532
00:25:53,480 --> 00:25:55,720
Speaker 4: also looking to trade in my current car, which is

533
00:25:55,760 --> 00:25:58,760
Speaker 4: also a Volkswagen, and although it's a convertible and the

534
00:25:58,880 --> 00:26:01,320
Speaker 4: roof doesn't even work and everything's kind of messed up,

535
00:26:01,520 --> 00:26:03,560
Speaker 4: I'm hoping I can at least get a few thousand

536
00:26:03,680 --> 00:26:06,719
Speaker 4: knocked off as well to make it twenty thousand, Whereas

537
00:26:06,760 --> 00:26:09,880
Speaker 4: privately I'm not getting anything for the car.

538
00:26:10,359 --> 00:26:12,879
Speaker 2: That's super smart And I think you're right, like I

539
00:26:12,920 --> 00:26:15,560
Speaker 2: think when you go, oh, for what is it five

540
00:26:15,560 --> 00:26:17,399
Speaker 2: thousand dollars? Yes, it's a lot of money, but in

541
00:26:17,440 --> 00:26:21,240
Speaker 2: the scheme of things also for the reliability and the warranty,

542
00:26:21,320 --> 00:26:23,320
Speaker 2: and you know, usually when you go to a dealership

543
00:26:23,359 --> 00:26:26,679
Speaker 2: you can negotiate some sick little extras, lack a tint

544
00:26:26,880 --> 00:26:29,000
Speaker 2: or you know, all these different bits and pieces that

545
00:26:29,040 --> 00:26:32,160
Speaker 2: they have the ability to throw in. Yeah, it's right now,

546
00:26:32,200 --> 00:26:34,520
Speaker 2: it almost feels like it might be more worth doing that,

547
00:26:34,800 --> 00:26:37,119
Speaker 2: dependent again on what people are looking at purchasing.

548
00:26:37,600 --> 00:26:40,600
Speaker 3: Yeah, I used to be so of the opinion secondhand cars,

549
00:26:40,640 --> 00:26:42,760
Speaker 3: and you guys know that I've even done an episode

550
00:26:42,800 --> 00:26:45,440
Speaker 3: on it. But the car market right now, just because

551
00:26:45,440 --> 00:26:48,439
Speaker 3: of supply and demand, means that the secondhand car market

552
00:26:48,520 --> 00:26:52,240
Speaker 3: is absolutely booming. And it's quite funny because my partner

553
00:26:52,280 --> 00:26:55,280
Speaker 3: has an older car and we've recently replaced it, and

554
00:26:55,440 --> 00:26:57,680
Speaker 3: the amount that we can sell his older car for

555
00:26:58,600 --> 00:27:03,280
Speaker 3: is insane, absolutely insane in comparison to what it would

556
00:27:03,320 --> 00:27:05,639
Speaker 3: have been worth three or four years ago. He's just

557
00:27:05,640 --> 00:27:08,040
Speaker 3: been like, look, it doesn't really matter. Like it's a

558
00:27:08,080 --> 00:27:10,600
Speaker 3: car that I'm driving around, it's worth next to nothing.

559
00:27:10,880 --> 00:27:12,720
Speaker 3: And we spoke to a mechanic because we got it

560
00:27:12,800 --> 00:27:14,760
Speaker 3: checked out before we put it up for sale, and

561
00:27:14,760 --> 00:27:16,600
Speaker 3: the mechanic was like, oh, yeah, you can sell it

562
00:27:16,640 --> 00:27:18,480
Speaker 3: for like X and we're like, what the hell, that's

563
00:27:18,520 --> 00:27:21,600
Speaker 3: like more than double what we anticipated to sell it for.

564
00:27:21,800 --> 00:27:23,640
Speaker 3: He was like, oh yeah, chuck it online. This one

565
00:27:23,680 --> 00:27:25,600
Speaker 3: will sell. It's a really good one. And because it's

566
00:27:25,640 --> 00:27:28,760
Speaker 3: got like LPG, it's obviously very cheap to run as well.

567
00:27:28,800 --> 00:27:32,159
Speaker 3: And we're like, ahh, maybe we should keep this. This

568
00:27:32,240 --> 00:27:36,520
Speaker 3: is a good car. So it's one of those things that, yeah,

569
00:27:36,840 --> 00:27:38,600
Speaker 3: I'm a bit of a rock in a hard place

570
00:27:38,640 --> 00:27:41,439
Speaker 3: when it comes to purchasing new, because I think my

571
00:27:41,560 --> 00:27:44,000
Speaker 3: apprehension when buying new is when you drive it off

572
00:27:44,040 --> 00:27:46,119
Speaker 3: that parking lot, it loses a lot of value. But

573
00:27:46,240 --> 00:27:48,800
Speaker 3: right now it's not nearly losing nearly as much as

574
00:27:48,840 --> 00:27:49,600
Speaker 3: what it used to do.

575
00:27:49,800 --> 00:27:51,680
Speaker 2: Well, do you remember someone posted in a sheet on

576
00:27:51,720 --> 00:27:53,639
Speaker 2: Loney Community. It was a little while back now, but

577
00:27:53,680 --> 00:27:56,119
Speaker 2: they purchased a car. I can't remember how long it was,

578
00:27:56,160 --> 00:27:58,120
Speaker 2: I want to say between five and ten years ago,

579
00:27:58,560 --> 00:28:01,639
Speaker 2: and they sold it for a profit now, which.

580
00:28:01,560 --> 00:28:04,000
Speaker 3: I remember that that was saying.

581
00:28:03,880 --> 00:28:06,200
Speaker 2: Almost one hundred thousand kilometers on it. They made a

582
00:28:06,200 --> 00:28:08,439
Speaker 2: proper on it. So it just goes to show, doesn't It.

583
00:28:08,480 --> 00:28:10,040
Speaker 3: Just got to be smart. You've got to do your

584
00:28:10,080 --> 00:28:12,240
Speaker 3: research and make sure that you're making the best decision

585
00:28:12,280 --> 00:28:14,320
Speaker 3: for you, not just the decision that you think is

586
00:28:14,320 --> 00:28:17,000
Speaker 3: the most fun or the easiest.

587
00:28:17,240 --> 00:28:19,679
Speaker 2: Yeah, the last question I have before we head off

588
00:28:19,760 --> 00:28:22,320
Speaker 2: thee unless you have anything else, is you mentioned money

589
00:28:22,320 --> 00:28:25,080
Speaker 2: diarist you want to move to Melbourne from Geelong, which

590
00:28:25,160 --> 00:28:27,600
Speaker 2: obviously is a bit of a huge meal with us

591
00:28:27,880 --> 00:28:30,120
Speaker 2: for anyone who's not familiar. It's probably about an hour

592
00:28:30,560 --> 00:28:33,720
Speaker 2: hour and a half kind of distance wise, but costing

593
00:28:34,040 --> 00:28:37,239
Speaker 2: in Melbourne versus Gilong is very different. You guys are

594
00:28:37,240 --> 00:28:40,080
Speaker 2: planning on buying, how do you feel like it's going

595
00:28:40,160 --> 00:28:42,160
Speaker 2: to go Because I think even just the cost of living,

596
00:28:42,280 --> 00:28:45,880
Speaker 2: I've noticed as someone who grew up well outside of Melbourne,

597
00:28:46,160 --> 00:28:49,640
Speaker 2: it's just more expensive to be here in general. So

598
00:28:50,320 --> 00:28:52,760
Speaker 2: how have you thought about that in terms of your budgeting?

599
00:28:52,840 --> 00:28:55,040
Speaker 2: Like what are you doing to prepare? And then also

600
00:28:55,160 --> 00:28:58,360
Speaker 2: I guess with your purchase, how's that all going to

601
00:28:58,400 --> 00:28:58,959
Speaker 2: work out for you?

602
00:28:59,440 --> 00:29:02,280
Speaker 4: Yes, So hopefully by the time we're ready to move

603
00:29:02,320 --> 00:29:05,240
Speaker 4: back to Melbourne at the end of this year, prices

604
00:29:05,240 --> 00:29:07,560
Speaker 4: have kind of stabilized. I don't know if that's going

605
00:29:07,600 --> 00:29:10,680
Speaker 4: to happen. We can't predict and then all three of

606
00:29:10,720 --> 00:29:13,360
Speaker 4: our properties will be rented out, so we'll be receiving

607
00:29:13,400 --> 00:29:15,600
Speaker 4: that income. If we need to rent for a period

608
00:29:15,680 --> 00:29:17,600
Speaker 4: of time, that's fine, We're happy to.

609
00:29:17,560 --> 00:29:18,440
Speaker 3: Do that as well.

610
00:29:18,920 --> 00:29:22,360
Speaker 4: And then yeah, hopefully with the equity we've taken out,

611
00:29:22,440 --> 00:29:24,360
Speaker 4: we can use that to purchase a new home.

612
00:29:24,640 --> 00:29:25,120
Speaker 3: Hopefully.

613
00:29:25,280 --> 00:29:27,640
Speaker 4: I just need to spend the five percent deposit this

614
00:29:27,720 --> 00:29:31,640
Speaker 4: time because I'm a lawyer, and yeah, just living day

615
00:29:31,680 --> 00:29:35,160
Speaker 4: to day, I hope that the investments will be generating

616
00:29:35,240 --> 00:29:37,480
Speaker 4: some income so we're at least not having to worry

617
00:29:37,520 --> 00:29:40,600
Speaker 4: about those mortgages. And then it's just you know, starting

618
00:29:40,600 --> 00:29:43,400
Speaker 4: from scratch and having just the mortgage of the property

619
00:29:43,400 --> 00:29:46,400
Speaker 4: we're living in because right now with the Adelaide property,

620
00:29:46,480 --> 00:29:49,840
Speaker 4: it's being rented out and we're paying about one hundred

621
00:29:49,880 --> 00:29:53,040
Speaker 4: dollars each per month, so then it's being paid off,

622
00:29:53,080 --> 00:29:56,000
Speaker 4: so it's pretty much paying itself of and then our

623
00:29:56,320 --> 00:30:00,680
Speaker 4: properties in Julong will definitely be paying off mortgage and

624
00:30:00,680 --> 00:30:02,440
Speaker 4: we won't have to worry about that either.

625
00:30:02,840 --> 00:30:05,240
Speaker 2: Yeah. Incredible. Actually, no, one more question, sorry, I laid.

626
00:30:05,480 --> 00:30:08,480
Speaker 2: Do you guys handle your the management of your investments

627
00:30:08,520 --> 00:30:11,680
Speaker 2: yourself or do you lease that out to a business.

628
00:30:11,640 --> 00:30:14,200
Speaker 4: In terms of the financial side of things, my partner's

629
00:30:14,240 --> 00:30:16,959
Speaker 4: actually an accountant, so that really helps.

630
00:30:17,120 --> 00:30:19,760
Speaker 3: Of course, we've got a lawyer and an accountant together,

631
00:30:19,920 --> 00:30:21,480
Speaker 3: they're gonna take over the world.

632
00:30:21,640 --> 00:30:25,000
Speaker 4: I love that he's still studying so but he is

633
00:30:25,080 --> 00:30:29,920
Speaker 4: working as an accountant, so that's really good. And we

634
00:30:30,000 --> 00:30:33,720
Speaker 4: are getting real estate agents to manage the property, especially

635
00:30:33,720 --> 00:30:36,720
Speaker 4: the one in Adelaide. We just went with the agent

636
00:30:36,800 --> 00:30:40,200
Speaker 4: that sold the property to us, and in Geelong we'll

637
00:30:40,240 --> 00:30:42,880
Speaker 4: just go with an agent that we've been speaking to

638
00:30:42,960 --> 00:30:47,160
Speaker 4: about evaluation at the moment, incredible, very Coorey.

639
00:30:47,200 --> 00:30:49,840
Speaker 3: Thank you for being so open with us and sharing

640
00:30:49,920 --> 00:30:52,400
Speaker 3: so much of your story. I feel like I've learned

641
00:30:52,440 --> 00:30:54,800
Speaker 3: a lot at the same time as just listening on

642
00:30:54,880 --> 00:30:57,760
Speaker 3: in or like you are so impressive for twenty five

643
00:30:57,920 --> 00:30:58,320
Speaker 3: Like what.

644
00:30:58,800 --> 00:31:01,440
Speaker 2: Yeah, I'm so envious. You've done incredible things.

645
00:31:02,160 --> 00:31:03,200
Speaker 4: Thank you so much.

646
00:31:04,600 --> 00:31:07,560
Speaker 3: Oh my gosh, you are a wizard. But as always,

647
00:31:07,600 --> 00:31:09,440
Speaker 3: I do think that that is all we have time

648
00:31:09,480 --> 00:31:11,920
Speaker 3: for today. Just before we head off, we'd like to

649
00:31:11,960 --> 00:31:15,400
Speaker 3: acknowledge and pay respect to Australia's Aboriginal and Torres Strait

650
00:31:15,440 --> 00:31:19,040
Speaker 3: islander peoples. They're the traditional cust audience of the lands

651
00:31:19,080 --> 00:31:22,640
Speaker 3: the waterways and the skies all across Australia. We thank

652
00:31:22,680 --> 00:31:24,720
Speaker 3: you for sharing and for caring for the land on

653
00:31:24,760 --> 00:31:27,400
Speaker 3: which we are able to learn. We pay respects to

654
00:31:27,440 --> 00:31:29,960
Speaker 3: elders past and present, and we share our friendship and

655
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Speaker 3: our kindness.

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00:31:31,040 --> 00:31:33,520
Speaker 2: And remember the advice shared on She's on the Money

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00:31:33,560 --> 00:31:36,760
Speaker 2: is generally nature and does not consider your individual circumstances.

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00:31:36,960 --> 00:31:39,920
Speaker 2: She's on the money existecurely for educational purposes and should

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00:31:40,000 --> 00:31:42,000
Speaker 2: not be relied upon to make an investment or a

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00:31:42,000 --> 00:31:45,440
Speaker 2: financial decision, And we promise Victoria Divine is an authorized

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00:31:45,480 --> 00:31:50,000
Speaker 2: representative of Infocused Securities Australia Proprietary Limited ABN four seven

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00:31:50,080 --> 00:31:53,000
Speaker 2: oh nine seven seven nine seven oh fort nine AFSL

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00:31:53,080 --> 00:31:54,680
Speaker 2: two three six five two three.

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Speaker 3: See you next week.

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Speaker 2: Guys, didn't a