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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or

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Speaker 1: the Order, Kernie Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money. Hello, and

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Speaker 3: welcome to She's on the Money Podcast Millennials who want

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Speaker 3: financial freedom. Welcome back to another one of our money

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Speaker 3: diaries where we get to talk with one of our

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Speaker 3: incredible She's on the Money community members all about their journey. Now,

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Speaker 3: let's dive straight in, because this week we got a

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Speaker 3: letter and it sounded like this, Dear, She's on the Money.

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Speaker 3: I was told I'd never qualify for an investment property loan,

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Speaker 3: but I proved them wrong and bought two in just

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Speaker 3: seven months. Growing up, I was taught early that money

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Speaker 3: is hard to earn and quick to lose. By the

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Speaker 3: age of thirteen, I was teaching drum lessons for ten

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Speaker 3: dollars a session, which taught me the power of saving. Now,

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Speaker 3: at twenty four, I'm self employed with two positively geared properties,

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Speaker 3: and I'm just getting started my goal to build a

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Speaker 3: ten property portfolio and secure a financial future on my

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Speaker 3: own terms. With a mix of savvy hard work and

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Speaker 3: inspiration from the She's on the money community, I'm showing

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Speaker 3: the big dreams really can come true. Money Diarist from

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Speaker 3: ten bucks for a drum lesson to having two properties

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Speaker 3: and the plan is ten that's a bit of a

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Speaker 3: financial glow up.

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Speaker 2: Yeah, well I'm on the way. But yeah, it's a

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Speaker 2: bit crazy to think of it like that.

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Speaker 3: I love this so much. I am so excited. Let's

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Speaker 3: dive straight in. But before we get there, money rist,

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Speaker 3: what grade would you give your money habits If I

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Speaker 3: asked you to give them a grade from eight through

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Speaker 3: to F, I.

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Speaker 2: Would probably give myself a solid b ooh, a solid bee.

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Speaker 3: All right, let's dive into it. I want to know

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Speaker 3: tell me a bit more about your money story.

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Speaker 2: Yep. So, when I grew up, my parents had two

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Speaker 2: government jobs and we had everything that we needed. I

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Speaker 2: was very fortunate to live in the home that I

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Speaker 2: lived in and have the family who are super supportive.

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Speaker 2: We all grew up. All my siblings were doing music,

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Speaker 2: so my parents paid for us to do our music tuitions,

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Speaker 2: but we also did a lot of extension bands. When

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Speaker 2: I went to high school, my primary school band can

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Speaker 2: asked me to tutor a student. He actually said it

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Speaker 2: was going to be twenty bucks an hour, and I thought.

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Speaker 3: Yes, that's a good deal.

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Speaker 2: I know, I thought I was going to be getting

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Speaker 2: more than what people at macas get.

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Speaker 3: Yeah, one hundred percent.

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Speaker 2: But then I realized it was only thirty minutes a week.

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Speaker 3: Oh but still.

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Speaker 2: You know what you get what you get, yeah, yeah,

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Speaker 2: but still it was fantastic because I just would hop

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Speaker 2: off the bus on my way home from school, do

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Speaker 2: my lesson, and then head home, so it was super easy.

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Speaker 2: When I was in year eight, my brother and I

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Speaker 2: were in an extension band for the region and we

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Speaker 2: went to our band rehearsal and the idea was kind

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Speaker 2: of prop to us that there would be an international

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Speaker 2: tour to both Hong Kong and China.

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Speaker 3: You're going to have to tell me, I'm sorry, what

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Speaker 3: is an extension band.

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Speaker 2: It's like outside of school. So if you were advanced

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Speaker 2: at your instrument, you would then audition for an additional

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Speaker 2: program to do outside of school.

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Speaker 3: Ooh, you're an advanced musician.

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Speaker 2: Yes, some might say. Yeah. So we came home and

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Speaker 2: we told my parents that there was this option for

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Speaker 2: us to go overseas on this tour, and my dad said, yes,

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Speaker 2: that sounds awesome. You can do it, but you have

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Speaker 2: to pay for it yourself.

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Speaker 3: Oh my gosh. And you were like, oh, this is

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Speaker 3: not how I saw this conversation going.

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Speaker 2: Yeah, and I'm thinking I'm earning ten dollars a week

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Speaker 2: doing one lesson a week. How am I going to

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Speaker 2: afford a trip to China? So my mum had this

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Speaker 2: idea of us getting those Cabri chocolate boxes and selling

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Speaker 2: them at soccer games and netball matches. Smart and that's

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Speaker 2: the route that we went down. Yeah, So we ended

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Speaker 2: up going every weekend, going to netball courts, soccer games,

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Speaker 2: taking them to school, taking them to band and honestly,

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Speaker 2: the amount of chocolates we sold it was ridiculous.

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Speaker 3: But everyone loves a giant Fredo, Like I mean, the

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Speaker 3: second you offer me a giant caramelo koala babe, like

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Speaker 3: say less.

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Speaker 2: And you know what, the caramelo koalas were the ones

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Speaker 2: that would sell the most. We had a lady who

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Speaker 2: would buy them by the box.

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Speaker 3: Yeah, because she's a genius.

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Speaker 2: And so we would go and sell them at school

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Speaker 2: and we would sell like toblerons as well, so toblerones

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Speaker 2: and like two spars and all the different kind of

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Speaker 2: cabri chocolate. And my mum she's like, you should sell

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Speaker 2: the toblerns for two dollars because they're a boogie chocolate.

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Speaker 3: Yeah, smart woman, she's a business lady.

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Speaker 2: Yeah, we'll get a bit more profit. So we started

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Speaker 2: selling them at school. But we noticed that there was

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Speaker 2: another kid selling chocolate at school, but his toblerones were

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Speaker 2: only a dollar.

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Speaker 3: Oh, you've got to market competition.

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Speaker 2: Yeah. So what my brother did, and this is I

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Speaker 2: think where the light bulb moment went off for me

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Speaker 2: on how to be savvy with money, he went and

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Speaker 2: bought all of the toblerones off, chucked them in our boxes,

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Speaker 2: and we went off and sold them for two dollars each.

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Speaker 3: Honestly, you are business moguls. You were born for business

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Speaker 3: that's actually iconic. He won, you.

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Speaker 2: Won exactly exactly, and it just was like a light

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Speaker 2: bulb moment of you know, you can still get your

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Speaker 2: cake and eat it too, you can. You know, everyone

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Speaker 2: can win.

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Speaker 3: I adore that. I think it's so funny. In my

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Speaker 3: mortgage breaking business, I don't think that's going to work

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Speaker 3: for me, but in a product based business could potentially

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Speaker 3: be a great strategy.

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Speaker 2: Yeah. So then we ended up going on that tour.

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Speaker 2: We raised eight grand total.

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Speaker 3: What eight thousand dollars from Cadbury Chocolates.

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Speaker 2: Yeah, I know, it's a lot, it's a lot. My

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Speaker 2: mum was saying, we're selling so much chocolates that soon

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Speaker 2: we're going to become chocolates. We just were a chocolate family. Yeah.

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Speaker 3: I love that. I love that side hustle queen.

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Speaker 2: Yeah. So we went on the tour and it was fantastic.

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Speaker 2: And then two years later we were offered the opportunity

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Speaker 2: to go on another international tour and this one was

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Speaker 2: to Europe. So guess how we got us there?

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Speaker 3: Hey, Cabri, you heard of us before?

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Speaker 2: Yep? We caught up Cabri and we sold another eight

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Speaker 2: grand worth of chocolate.

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Speaker 3: Oh my God, I love that, and I love that

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Speaker 3: it was like you guys were so involved in the

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Speaker 3: fundraising for that, so like it totally benefited you. But

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Speaker 3: you learned a lot about financial literacy, about negotiating, about

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Speaker 3: like putting in the work. I'm obsessed with that. Bring

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Speaker 3: back the Cabri chocolate sales. Although do you reckon that

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Speaker 3: they're like five dollars of chocolate nowadays, because I feel

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Speaker 3: like it used to be like a dollar for a

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Speaker 3: giant Caramela Koala.

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Speaker 2: Yeah, they're pretty expensive now. I don't know what the

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Speaker 2: profit was like, but when we did it, it was

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Speaker 2: I think we're making about twenty dollars a box. So

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Speaker 2: you purchase the box for thirty dollars and then you

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Speaker 2: sell the whole box for fifty, So we'd make a

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Speaker 2: twenty dollar probit, which is a lot of boxes to

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Speaker 2: sell one hundred percent us going. Yeah. And then the

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Speaker 2: following year, my brother was in year twelve and he

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Speaker 2: was in a different band to me, but they were

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Speaker 2: going to America. So, being the good sister I am,

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Speaker 2: I pulled up my sleeves and I started selling chocolates

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Speaker 2: with him. I'm another four grand for him to go

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Speaker 2: and then The following year, it was my turn and

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Speaker 2: my band was going to America, so we sold another

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Speaker 2: four grand worth of chocolate. So to all throughout my

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Speaker 2: high school life, I sold twenty four thousand dollars worth

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Speaker 2: of chocolate.

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Speaker 3: Oh my god, Cadbrey, you're welcome, because if you're spending

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Speaker 3: thirty dollars to buy that box, we all know it

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Speaker 3: costs them two dollars to make. You've basically kept Cabri

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Speaker 3: in business.

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Speaker 2: It's absolutely crazy. I can't believe that we sold that much.

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Speaker 2: But when I go past the network courts, I thank

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Speaker 2: goodness I don't play netball. I go past and I

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Speaker 2: get a little bit of like, oh, I don't want

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Speaker 2: to be here anymore. I've spent too much time here.

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Speaker 3: Yeah, no, that's fair, that's fair. I feel like you'd

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Speaker 3: be a bit triggered. But for twenty four thousand dollars,

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Speaker 3: I'll take that feeling any day. That's absolutely fine with me.

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Speaker 2: And I think growing up and having my dad be

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Speaker 2: so adamant, like you can do it, but you have

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Speaker 2: to put in the effort yourself has put a really

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Speaker 2: strong worth ethic, especially in all of us kids, because

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Speaker 2: we love what we do and we put a lot

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Speaker 2: of effort into our jobs, and it really shows like

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Speaker 2: we're happy to put in that time because we know

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Speaker 2: what the outcome will be.

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Speaker 3: I love that. I feel like it's teaching work ethic

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Speaker 3: really young. Yeah, and it was for a bigger cause

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Speaker 3: it wasn't just you getting a whole heap of cash

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Speaker 3: and then seeing what to do with it. Like you

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Speaker 3: had a purpose, you had an outcome. You got to

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Speaker 3: see that be achieved. I think that's just it's really cool,

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Speaker 3: and we.

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Speaker 2: Valued it so much more because we spent all of

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Speaker 2: those hours going and putting in the hard work so

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Speaker 2: that we could go on these trips one hundred percent.

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Speaker 3: And they are not cheap, Like, those trips are expensive.

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Speaker 3: And imagine if your parents had to cough up twenty

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Speaker 3: four thousand dollars for you to, you know, pursue your

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Speaker 3: band dreams. It just is not feasible for the average family,

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Speaker 3: Like that's just not an option. But you still got

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Speaker 3: these opportunities because you guys got involved.

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Speaker 2: Yeah, exactly exactly. But yeah, I went on and I

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Speaker 2: ended up doing a design degree. I didn't go down

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Speaker 2: the music route. I wanted to kind of stray away

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Speaker 2: from my brother we already played the same instrument, and

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Speaker 2: he was already going down the music route. So I

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Speaker 2: changed my direction and I ended up doing a Bachelor

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Speaker 2: of Design, and throughout my work I was still tutoring.

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Speaker 2: I had about twenty students drum students at the stage,

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Speaker 2: and I was charging a bit more. I wasn't at

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Speaker 2: the ten dollars per half an hour anymore.

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Speaker 3: Yeah, very nice for a NUS.

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Speaker 2: And my grandparents ended up getting quite unwell. My grandmother

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Speaker 2: had dementia and my granddad had Alzheimer's and they were

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Speaker 2: at the stage where they started to need someone to

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Speaker 2: care for them, and so I volunteered. I popped my

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Speaker 2: hand up and I would care for them.

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Speaker 3: Oh, you are so special.

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Speaker 2: Honestly, it was the best experience. It was in their

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Speaker 2: last three years of life. And the connection that you

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Speaker 2: build when you're seeing, especially a grandparent who you view

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Speaker 2: in a certain way when you're young, and then being

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Speaker 2: an adult and having to care for them and help

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Speaker 2: them eat and help them walk and do exercises. It

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Speaker 2: has taught me a lot of people's skills, but also

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Speaker 2: it's given me a lot of reflection that life is

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Speaker 2: so sure and you don't know which way it's going

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Speaker 2: to turn.

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Speaker 3: Yeah, and those diseases are heartbreaking, Like, those diseases are

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Speaker 3: things that I would never wish on anybody because they're

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Speaker 3: just slowly chipping away at who you are and what

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Speaker 3: you were. And like watching that, as much as I

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Speaker 3: can see that you're so grateful for the experience, it

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Speaker 3: would have been heartbreaking at the same time because they're

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Speaker 3: losing themselves and that is Oh, you're such a special

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Speaker 3: person for stepping up and doing that. Because as much

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Speaker 3: as you're saying like, oh, it's such an opportunity, like,

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Speaker 3: it also would have been a really rough gig.

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Speaker 2: Yeah, it was tough, but I have been brought up

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Speaker 2: in the most exceptional family. We're a huge family and

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Speaker 2: we are always there for everyone. Everybody has a place

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Speaker 2: and if I needed help, I know anyone would drop

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Speaker 2: a hat to be there.

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Speaker 3: I love this.

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Speaker 2: Yeah, it wasn't even a question, like I just knew yes,

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Speaker 2: I And especially because I was kind of finishing up

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Speaker 2: my degree, I had part time work. I had a

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Speaker 2: bit more time on my hands compared to everybody else

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Speaker 2: working full time.

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Speaker 3: You're like, well that fits me, no worries.

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Speaker 2: Yeah, but it was also the time around COVID. So

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Speaker 2: I was having a hard time finding a job in

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Speaker 2: like a corporate world to do design, so spending my

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Speaker 2: time with them was much preferred. But also it was

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Speaker 2: a lot more valued to me. And because I cared

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Speaker 2: for them, I was then able to start thinking, Okay,

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Speaker 2: what do I want to do, Like I had a

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Speaker 2: bit more time under my sleep, kind of like a

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Speaker 2: gap year but for a few years, and I decided

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Speaker 2: I'm going to start my own clothing brand.

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Speaker 3: Oh okay, yeah. And I had a chat to my dad.

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Speaker 2: I said, Dad, I'm going to start my own clothing brand.

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Speaker 2: And he said, that is the dumbest thing you could do.

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Speaker 3: You can always trust your dad to give you some

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Speaker 3: brutal honesty, can't you.

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Speaker 2: Yes, And he said, do you really want to be

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Speaker 2: self employed? You're going to have to do your own

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Speaker 2: super You're not going to have any leave, no maternity leave,

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Speaker 2: no holiday leave, no sickly trust me, it's just put

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Speaker 2: it in the two high basket. You don't want to

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Speaker 2: do it, just go get a normal job and work

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Speaker 2: for someone else. And I just was like, oh, that

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Speaker 2: sounds boring.

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Speaker 3: You're preaching to the converted, Like I'm at a point

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Speaker 3: in my career now, where if I worked for somebody else,

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Speaker 3: i'd be fired the same day that I started employment

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Speaker 3: with them. So like, yes, not for me, but also

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Speaker 3: it's definitely the safer option. At the end of the day.

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Speaker 3: Having a consistent paycheck coming in is so valuable. Like

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Speaker 3: the amount of stress that you carry as a business

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Speaker 3: owner insane. But tell me, what did you do. Did

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Speaker 3: you listen to your dad's advice?

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Speaker 2: No, I did not, And I went off and I

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Speaker 2: started my own brand, and I had the best time.

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Speaker 2: I woke up every morning and I loved what I

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Speaker 2: was doing. But also keep in mind, I was self

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Speaker 2: employed since I was thirteen. I was teaching music lessons

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Speaker 2: from a very young age. I knew how to talk

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Speaker 2: to clients. I knew how to you know, have those

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Speaker 2: people skills to run your own business. And I just

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Speaker 2: had finished my degree and I was ready to give

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Speaker 2: it a crack. So I had my own brand. I

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Speaker 2: was selling online, I was selling in stores, I was

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Speaker 2: doing runway shows.

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Speaker 3: Oh my god.

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Speaker 2: Yeah, it was thriving. It was going quite well, but

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Speaker 2: I just was starting to feel a bit burnt out

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Speaker 2: from doing the marketing, the sales, negotiating with the manufacturers.

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Speaker 2: There's so many different hats that you need to wear.

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Speaker 2: And I listened to a podcast of She's on the Money,

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Speaker 2: one of the earlier episodes, and you were talking about freelancing,

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Speaker 2: and it was like a light bulb moment, and I thought, oh,

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Speaker 2: my goodness, I can do all of this for somebody

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Speaker 2: else as a freelancer. Still work on my terms, and

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Speaker 2: I kind of chose the roles that I liked the

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Speaker 2: most and the ones that I was best at. So

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Speaker 2: now I am a freelance designer and I do that

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Speaker 2: for clients instead of doing it all for me.

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Speaker 3: What that's so cool? I love that I get to

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Speaker 3: be a timey little part of that journey and that

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Speaker 3: you're like, oh, you planted a little seed and then

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00:14:32,680 --> 00:14:35,200
Speaker 3: that grew and now I'm thriving. I love this. I mean,

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Speaker 3: you would have thrived anyway, but like, I like that

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Speaker 3: I got to be part of that. That is legit

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Speaker 3: so cool. So tell me about what you now officially

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Speaker 3: do for work and how much money you earn.

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Speaker 2: So I am a freelance designer and I'm also a

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Speaker 2: music tutor, and the last financial year that we had,

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Speaker 2: I earned one hundred and nine thousand dollars.

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Speaker 3: What one hundred grand and you're just doing your own thing.

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Speaker 2: Yes, And the year before I had earned seventy thousand dollars,

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Speaker 2: and then the year before that when I had just started,

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Speaker 2: only in the last few months I earned thirty grand.

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Speaker 3: That is really good. I love that. So are you

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Speaker 3: paying your own super? Is a very good question because

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Speaker 3: your dad turned around and said, ah, you'd have to

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Speaker 3: pay your own super.

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Speaker 2: Yes. I do my own super, and sometimes I pay

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Speaker 2: a little bit more because I know that it's very important.

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Speaker 2: Sometimes I put fifteen percent in.

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Speaker 3: Oh an icon? How's that going for you? Dad?

329
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Speaker 2: So my super is currently sitting at thirty two thousand,

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Speaker 2: four hundred.

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Speaker 3: How good's that? And how old are you?

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Speaker 2: I'm twenty four.

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Speaker 3: That is an epic amount of superannuation for someone who

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Speaker 3: is only twenty four to have, Like you're I mean

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Speaker 3: this in the most non condescending way ever. You're just

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00:15:47,840 --> 00:15:51,000
Speaker 3: the baby, like you are starting your career and you're

337
00:15:51,040 --> 00:15:54,360
Speaker 3: earning six figures. Be for real, what other twenty four

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Speaker 3: year old is out there paying their own superannuation, running

339
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Speaker 3: their own business and earning six figures. That's so cool.

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Speaker 3: I'm so proud of you. I adore this so much.

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Speaker 2: Yeah, it's absolutely crazy, And I drive in between my

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Speaker 2: jobs to different schools and I just think, like, I'm

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Speaker 2: so lucky that I get to do this for work,

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Speaker 2: Like I have the best job, I work with this people,

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Speaker 2: and I'm loving my life, like I'm so grateful that

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Speaker 2: this is how everything's turned out. And the crazy thing is,

347
00:16:21,640 --> 00:16:23,720
Speaker 2: no one's given it to me. I've just pushed and

348
00:16:23,760 --> 00:16:26,080
Speaker 2: pushed and pushed and have made it happen for myself.

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Speaker 3: I adore that. It's the tiny little things along the

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Speaker 3: way that end up not being tiny and little, like

351
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Speaker 3: selling Cabri chocolates and teaching you that you can run

352
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Speaker 3: your own little business and it doesn't have to be

353
00:16:37,000 --> 00:16:40,080
Speaker 3: complicated and you can raise funds in a way that

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00:16:40,120 --> 00:16:42,080
Speaker 3: makes sense. And then from there you're like, well it's

355
00:16:42,080 --> 00:16:44,680
Speaker 3: not that hard, Like I could definitely, you know, do

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Speaker 3: some music tutoring and charge some money from that, and

357
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Speaker 3: it just starts to grow. It's like these tiny little

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Speaker 3: seeds and I love it.

359
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Speaker 2: I love it.

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Speaker 3: I feel like you're in this position where if I said, hey, money, dires,

361
00:16:56,600 --> 00:16:58,720
Speaker 3: can we check back in in you know, a year

362
00:16:58,800 --> 00:17:00,360
Speaker 3: or two years, you could be like, yeah, so I'm

363
00:17:00,360 --> 00:17:03,400
Speaker 3: earning one fifty. Like it's just going to grow from

364
00:17:03,480 --> 00:17:06,919
Speaker 3: here on in, especially as your reputation increases as a

365
00:17:06,960 --> 00:17:08,280
Speaker 3: freelance designer. Right.

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Speaker 2: Yeah, it's actually insane because I don't have to market

367
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Speaker 2: myself anymore. For example, I just finished with a client

368
00:17:15,920 --> 00:17:18,239
Speaker 2: last week and already an old client has come back

369
00:17:18,320 --> 00:17:20,800
Speaker 2: ready to do their next range with me. So people

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Speaker 2: are constantly coming back.

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Speaker 3: I love that. So tell me what does a freelance

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00:17:25,640 --> 00:17:28,520
Speaker 3: designer do, because that sounds cool. Are you going in

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00:17:28,640 --> 00:17:32,760
Speaker 3: and helping clients create ranges for their businesses or like

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Speaker 3: I need to know it sounds so fun.

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00:17:35,160 --> 00:17:39,399
Speaker 2: Yeah, so a brand or an individual. Usually it's individuals

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Speaker 2: who have other jobs. Maybe they're a stay at home mom,

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Speaker 2: or they work in accounting and they just need a

378
00:17:44,720 --> 00:17:47,760
Speaker 2: creative output. They come to me and they say, hey,

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Speaker 2: I'm wanting to start up a brand, or I'm wanting

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Speaker 2: to develop a range or come out with a product,

381
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Speaker 2: and I work with them on developing that product. I

382
00:17:55,560 --> 00:17:58,320
Speaker 2: then do the technical documents so that it can be

383
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Speaker 2: sent to a factory to produce it. I also do

384
00:18:01,200 --> 00:18:03,960
Speaker 2: logo design and print design and all the graphics for

385
00:18:04,040 --> 00:18:06,160
Speaker 2: their brand, and then I send them on their way

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Speaker 2: and they can go and produce it.

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Speaker 3: What and you get paid to do the good bit

388
00:18:10,880 --> 00:18:13,639
Speaker 3: of business and then hey, guys, you run it. I

389
00:18:13,640 --> 00:18:15,600
Speaker 3: don't want to do the accounting. I don't want to

390
00:18:15,640 --> 00:18:18,000
Speaker 3: have a thing to do with your accounting software or

391
00:18:18,080 --> 00:18:21,359
Speaker 3: like the clients or the issues. Like have fun, bye,

392
00:18:21,520 --> 00:18:22,840
Speaker 3: and then you get to go do it again.

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Speaker 2: Yeah, and every project is different.

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Speaker 3: You are a genius. I love this. That sounds so fun.

395
00:18:28,960 --> 00:18:31,600
Speaker 2: Yeah, it is fun. And I've done so many different things.

396
00:18:31,720 --> 00:18:35,040
Speaker 2: I feel like my scope of work has changed from

397
00:18:35,160 --> 00:18:37,439
Speaker 2: if I had just gone and worked with a singular brand.

398
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Speaker 2: I've done dog apparel, swimwear, active, where, men's wear, bridle, everything, like,

399
00:18:44,800 --> 00:18:46,120
Speaker 2: so many different areas.

400
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Speaker 3: I'm gonna snoop you later. No one else can do that,

401
00:18:48,880 --> 00:18:50,600
Speaker 3: but I get to you. I'm going to snoop you later.

402
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Speaker 3: I cannot wait to see more about this, because I

403
00:18:53,440 --> 00:18:55,520
Speaker 3: didn't even know that was a thing, Like I just

404
00:18:55,560 --> 00:18:57,800
Speaker 3: assumed that. You know, if you were starting a dog

405
00:18:57,880 --> 00:19:01,480
Speaker 3: apparel business, right, you would have to be the designer

406
00:19:01,600 --> 00:19:04,320
Speaker 3: and create these products and you wouldn't really have the support.

407
00:19:04,359 --> 00:19:06,119
Speaker 3: But then that's your literal job.

408
00:19:06,440 --> 00:19:08,359
Speaker 2: Yeah, and a lot of the time. The people that

409
00:19:08,359 --> 00:19:11,560
Speaker 2: are starting these brands are more analytical. They want to

410
00:19:11,560 --> 00:19:14,040
Speaker 2: do the business and the selling and the marketing. They

411
00:19:14,080 --> 00:19:16,600
Speaker 2: don't want to do the design and the construction and

412
00:19:16,720 --> 00:19:19,520
Speaker 2: chat with the manufacturers. So I'm able to just slot

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Speaker 2: in and assist where I'm needed.

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Speaker 3: Oh, I love that. I want to make a product

415
00:19:23,160 --> 00:19:25,320
Speaker 3: based business now, so we will have to talk. I

416
00:19:25,359 --> 00:19:26,840
Speaker 3: have no idea what I want to do, how I

417
00:19:26,840 --> 00:19:29,919
Speaker 3: want to do it, but that just sounds so fun.

418
00:19:30,440 --> 00:19:33,280
Speaker 3: Like oh, and even getting to collaborate with people over

419
00:19:33,359 --> 00:19:36,680
Speaker 3: exciting ideas of something new starting. It's like when I'm

420
00:19:36,720 --> 00:19:38,920
Speaker 3: sitting down to write like a new course or something,

421
00:19:39,000 --> 00:19:40,960
Speaker 3: I'm just so high on life because I'm like, oh

422
00:19:41,040 --> 00:19:43,040
Speaker 3: my god, Like we get to create this brand new

423
00:19:43,040 --> 00:19:45,679
Speaker 3: product and it's all of those dreams and wishes at

424
00:19:45,720 --> 00:19:46,159
Speaker 3: the start.

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Speaker 2: Yeah, it is a lot of fun.

426
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Speaker 3: So tell me money, Darist, what are your big money goals?

427
00:19:50,680 --> 00:19:52,160
Speaker 3: What are you currently working towards.

428
00:19:52,400 --> 00:19:55,840
Speaker 2: I am working towards owning ten investment properties.

429
00:19:56,040 --> 00:19:57,520
Speaker 3: Okay, where does that come from? Why?

430
00:19:57,640 --> 00:20:01,480
Speaker 2: Ten? I just think ten is a nice number, and

431
00:20:02,320 --> 00:20:04,480
Speaker 2: I just think like it's just out of reach. But

432
00:20:04,520 --> 00:20:09,120
Speaker 2: I've already kind of started snowballing, and I think I'll

433
00:20:09,160 --> 00:20:11,240
Speaker 2: be able to get there. You're already twenty percent of

434
00:20:11,280 --> 00:20:13,680
Speaker 2: the way there, Yeah, which is kind of crazy to think.

435
00:20:13,720 --> 00:20:15,880
Speaker 3: It's actually insane, like you're twenty percent of the way

436
00:20:15,920 --> 00:20:17,960
Speaker 3: there and then the next one will be thirty, Like

437
00:20:18,320 --> 00:20:23,000
Speaker 3: it actually starts to snowball. Why property? Why not the

438
00:20:23,040 --> 00:20:26,040
Speaker 3: share market? Why not you know, building business that you

439
00:20:26,080 --> 00:20:28,560
Speaker 3: can sell, given you're actually very good at that. What

440
00:20:28,640 --> 00:20:30,640
Speaker 3: about property is so sticky for you?

441
00:20:30,800 --> 00:20:33,119
Speaker 2: Well? I never actually thought that I was going to

442
00:20:33,119 --> 00:20:36,840
Speaker 2: go into property. My parents didn't have investment properties. They

443
00:20:36,880 --> 00:20:39,000
Speaker 2: owned the house that we live in, but there was

444
00:20:39,080 --> 00:20:44,119
Speaker 2: nothing externally. No one I really knew had like multiple properties.

445
00:20:44,560 --> 00:20:47,080
Speaker 2: And I was on Instagram. I was scrolling and I

446
00:20:47,119 --> 00:20:49,520
Speaker 2: saw the fire's egin and he was a twenty something

447
00:20:49,760 --> 00:20:52,720
Speaker 2: year old who had six properties, And I thought, what,

448
00:20:53,600 --> 00:20:57,080
Speaker 2: how can this twenty year old have six properties when

449
00:20:57,160 --> 00:20:59,600
Speaker 2: I'm also a twenty year old? Like what makes him

450
00:20:59,640 --> 00:21:02,840
Speaker 2: so special? And I had a chat to him and

451
00:21:02,880 --> 00:21:07,399
Speaker 2: he had talked to me about his strategy positively gearing,

452
00:21:07,640 --> 00:21:10,800
Speaker 2: negatively gearing. What even is strata? Like I live at

453
00:21:10,840 --> 00:21:13,440
Speaker 2: home with my parents, I'm so fortunate that I don't

454
00:21:13,480 --> 00:21:16,000
Speaker 2: have to pay rent. I've never had to pay any

455
00:21:16,040 --> 00:21:19,159
Speaker 2: of these things, and I wanted to learn more about it.

456
00:21:19,200 --> 00:21:21,760
Speaker 2: So I started reading. I read a few books, and

457
00:21:21,840 --> 00:21:24,080
Speaker 2: I just realized, I think this is the asset for me.

458
00:21:24,600 --> 00:21:27,679
Speaker 2: Also knowing that if something happens and I need to

459
00:21:27,720 --> 00:21:29,879
Speaker 2: go live somewhere, or if I decide to move to

460
00:21:29,920 --> 00:21:32,119
Speaker 2: a different state, I can do that. I have that

461
00:21:32,160 --> 00:21:33,520
Speaker 2: freedom and that flexibility.

462
00:21:33,640 --> 00:21:36,080
Speaker 3: Yeah, I love that, And I feel like that's you've

463
00:21:36,160 --> 00:21:38,480
Speaker 3: nailed it right, Like you've nailed it in terms of

464
00:21:38,600 --> 00:21:41,040
Speaker 3: you've worked out that that's the asset class for you

465
00:21:41,400 --> 00:21:44,080
Speaker 3: that works the best. Because at the end of the day,

466
00:21:44,080 --> 00:21:45,639
Speaker 3: I think so many people want to look at a

467
00:21:45,680 --> 00:21:49,159
Speaker 3: spreadsheet and go, oh, V what asset class returns the most.

468
00:21:49,600 --> 00:21:53,600
Speaker 3: And if we compare the four main asset classes in Australia, cash,

469
00:21:53,600 --> 00:21:56,760
Speaker 3: fixed interest, property, and the share market, the share market

470
00:21:56,760 --> 00:21:59,840
Speaker 3: returns the highest on average, right, But that doesn't mean

471
00:21:59,840 --> 00:22:03,560
Speaker 3: it's the right asset class for everybody. That just means

472
00:22:03,600 --> 00:22:07,320
Speaker 3: that on paper, it returns the most. Whereas you sound

473
00:22:07,400 --> 00:22:11,760
Speaker 3: passionate about property, you're driven. You're motivated, Like you can't

474
00:22:11,920 --> 00:22:15,000
Speaker 3: pay someone to be passionate and motivated and driven about

475
00:22:15,000 --> 00:22:18,560
Speaker 3: the share market, whereas when it's property and if that's

476
00:22:18,600 --> 00:22:21,320
Speaker 3: the right asset class for you, you're going to go no, no,

477
00:22:21,320 --> 00:22:23,480
Speaker 3: no v. I'm so motivated to get to my next

478
00:22:23,480 --> 00:22:27,160
Speaker 3: investment property, Whereas if I said, oh, are you keen

479
00:22:27,240 --> 00:22:29,560
Speaker 3: to get another fifty grand into the share market, you

480
00:22:29,640 --> 00:22:32,719
Speaker 3: might go not really, like that's not for me. So

481
00:22:32,800 --> 00:22:34,480
Speaker 3: you just don't have the same commitment.

482
00:22:34,600 --> 00:22:37,119
Speaker 2: Yeah, definitely. And I think another thing that is pulling

483
00:22:37,160 --> 00:22:40,240
Speaker 2: me towards the property market is when I wanted to

484
00:22:40,240 --> 00:22:42,760
Speaker 2: go self employed, my dad listed off a bunch of

485
00:22:42,800 --> 00:22:44,879
Speaker 2: things that I wouldn't be able to do. One of

486
00:22:44,920 --> 00:22:46,960
Speaker 2: them was, you'll never be able to own a hope.

487
00:22:47,040 --> 00:22:50,320
Speaker 3: Okay, Dad, I don't know where you're getting your information from,

488
00:22:50,320 --> 00:22:53,480
Speaker 3: but I would like to show you my two investment properties.

489
00:22:53,640 --> 00:22:55,640
Speaker 2: It's so good because I say to him, oh, really,

490
00:22:55,720 --> 00:22:57,680
Speaker 2: I'm looking for my next one. He's like, yeah, good,

491
00:22:57,720 --> 00:22:59,760
Speaker 2: keep proving me wrong, keep showing me that you can do.

492
00:23:00,760 --> 00:23:02,119
Speaker 3: That's the dad's strategy.

493
00:23:02,680 --> 00:23:05,760
Speaker 2: Yeah, and so like Well, at first too, I was

494
00:23:05,800 --> 00:23:08,480
Speaker 2: actually told that I couldn't borrow money from a broker.

495
00:23:08,600 --> 00:23:11,160
Speaker 2: So a few years ago I had seventy grand saved

496
00:23:11,520 --> 00:23:14,040
Speaker 2: and I went to a broker that my dad recommended,

497
00:23:14,680 --> 00:23:16,840
Speaker 2: and he said, come back to me in four months

498
00:23:16,840 --> 00:23:18,679
Speaker 2: at the end of the next financial year. Because my

499
00:23:18,720 --> 00:23:21,439
Speaker 2: previous financial year I had just done thirty grand and

500
00:23:21,480 --> 00:23:23,080
Speaker 2: it was coming to the end of the next one.

501
00:23:23,520 --> 00:23:25,280
Speaker 2: So I had a four months and I saved and

502
00:23:25,320 --> 00:23:27,160
Speaker 2: I saved and I saved, and I ended up having

503
00:23:27,200 --> 00:23:31,040
Speaker 2: one hundred grand in savings and my second tax return

504
00:23:31,280 --> 00:23:34,119
Speaker 2: of seventy grand. And I just thought, like, I'm ready.

505
00:23:34,160 --> 00:23:36,399
Speaker 2: I'm going to get a place who has this amount

506
00:23:36,440 --> 00:23:37,520
Speaker 2: of money saved.

507
00:23:37,200 --> 00:23:40,280
Speaker 3: At twenty three twenty four b for real, I know.

508
00:23:40,840 --> 00:23:42,560
Speaker 2: And so I had a chat to him and he

509
00:23:42,640 --> 00:23:45,640
Speaker 2: just said, look, I am so sorry you haven't earned

510
00:23:45,720 --> 00:23:49,080
Speaker 2: enough in the last financial year. Just keep saving. Come

511
00:23:49,080 --> 00:23:50,440
Speaker 2: back to me at the end of the next financial

512
00:23:50,520 --> 00:23:51,919
Speaker 2: year when your income has gone up.

513
00:23:52,000 --> 00:23:54,359
Speaker 3: No, you find a broker who's going to find a

514
00:23:54,440 --> 00:23:58,560
Speaker 3: bank or financial institution that will accept twelve months instead

515
00:23:58,560 --> 00:24:02,119
Speaker 3: of twenty four months of financials. As you probably know

516
00:24:02,240 --> 00:24:06,120
Speaker 3: this is my space. Like, you find a bank that

517
00:24:06,240 --> 00:24:08,480
Speaker 3: you know, the interest rate might be slightly different because

518
00:24:08,480 --> 00:24:11,760
Speaker 3: there's different levels of risk taking on someone who's self employed.

519
00:24:12,080 --> 00:24:14,440
Speaker 3: But like we've gotten loans for people who have only

520
00:24:14,560 --> 00:24:17,520
Speaker 3: just started their businesses and are twelve month in Like,

521
00:24:17,600 --> 00:24:20,280
Speaker 3: it's not about yeah anyway, I've just got a lot

522
00:24:20,320 --> 00:24:23,280
Speaker 3: to say about that, because so many times we get

523
00:24:23,320 --> 00:24:26,080
Speaker 3: clients who have been told no, and the reality is

524
00:24:26,119 --> 00:24:28,959
Speaker 3: the broker didn't want to dive too deep into the

525
00:24:29,000 --> 00:24:30,879
Speaker 3: reality of other options.

526
00:24:31,200 --> 00:24:34,560
Speaker 2: Yeah, and I mean me starting out, I just thought, like, really,

527
00:24:34,840 --> 00:24:37,640
Speaker 2: are you serious? I didn't understand that he was using

528
00:24:37,680 --> 00:24:39,640
Speaker 2: two years of like two tax returns.

529
00:24:39,800 --> 00:24:42,840
Speaker 3: Well, why would you. It's not your space. It's literally

530
00:24:42,880 --> 00:24:44,959
Speaker 3: not your space. And that's why you're meant to go

531
00:24:45,040 --> 00:24:47,679
Speaker 3: to a good broker so that you just trust what

532
00:24:47,760 --> 00:24:49,840
Speaker 3: they're saying, because like, you shouldn't have to question it.

533
00:24:49,840 --> 00:24:51,520
Speaker 3: You shouldn't have to be doing a heap of your

534
00:24:51,560 --> 00:24:54,359
Speaker 3: research on your own. What should happen is your broker

535
00:24:54,400 --> 00:24:56,840
Speaker 3: should put everything on the table and explain why all

536
00:24:56,880 --> 00:24:59,919
Speaker 3: of these options exist so that you go, oh, sick,

537
00:25:00,119 --> 00:25:02,080
Speaker 3: like that makes the most sense to me. Otherwise, why

538
00:25:02,080 --> 00:25:03,000
Speaker 3: aren't you doing it yourself?

539
00:25:03,359 --> 00:25:07,000
Speaker 2: Exactly? So, I was feeling super disheartened, and I dropped

540
00:25:07,040 --> 00:25:08,880
Speaker 2: a few swear words. I was not happy. I would

541
00:25:08,920 --> 00:25:11,800
Speaker 2: have too, don't worry, because I thought I was ready

542
00:25:11,800 --> 00:25:12,040
Speaker 2: to go.

543
00:25:12,240 --> 00:25:14,080
Speaker 3: You had one hundred grand be for real.

544
00:25:14,520 --> 00:25:16,840
Speaker 2: Yeah. And I was doing work for this client who

545
00:25:16,920 --> 00:25:19,560
Speaker 2: actually was a broker at the time, and I sent

546
00:25:19,640 --> 00:25:20,840
Speaker 2: her a message and I said, I know that this

547
00:25:20,920 --> 00:25:23,359
Speaker 2: is a bit off topic from your designs, but you know,

548
00:25:23,440 --> 00:25:25,439
Speaker 2: I just spoke to a broker. He said that I couldn't.

549
00:25:25,560 --> 00:25:28,240
Speaker 2: Are you able to check my borrowing capacity? I sent

550
00:25:28,320 --> 00:25:30,359
Speaker 2: her all my details and within a few hours she

551
00:25:30,440 --> 00:25:32,760
Speaker 2: called me and she was like, oh my goodness, you

552
00:25:32,800 --> 00:25:35,360
Speaker 2: can borrow up to seven hundred and fifty thousand dollars.

553
00:25:35,440 --> 00:25:38,439
Speaker 3: And You're like, look, I felt that deep in my bones,

554
00:25:38,880 --> 00:25:41,240
Speaker 3: like I knew that that was meant to be for me,

555
00:25:41,680 --> 00:25:43,080
Speaker 3: but someone had been saying no.

556
00:25:43,600 --> 00:25:46,639
Speaker 2: Yeah. And I was so happy because I already had

557
00:25:46,680 --> 00:25:49,199
Speaker 2: a buyer's agent under my belt. I now had a

558
00:25:49,200 --> 00:25:51,359
Speaker 2: broker ready to go. I just needed to find the

559
00:25:51,440 --> 00:25:54,600
Speaker 2: right property. And in November of twenty twenty three, I

560
00:25:54,680 --> 00:25:56,359
Speaker 2: purchased my first investment property.

561
00:25:56,400 --> 00:25:59,800
Speaker 3: Oh my gosh, that's so recent. That's literally eleven months

562
00:25:59,800 --> 00:26:00,400
Speaker 3: of ooh.

563
00:26:00,440 --> 00:26:02,760
Speaker 2: I know, not even a full year. It's actually crazy.

564
00:26:02,840 --> 00:26:05,840
Speaker 2: So I purchase a two bed, one bath, one car

565
00:26:05,880 --> 00:26:09,040
Speaker 2: apartment in Perth, and I purchased it for three hundred

566
00:26:09,080 --> 00:26:11,800
Speaker 2: and twenty thousand dollars and I had a deposit of

567
00:26:11,880 --> 00:26:15,040
Speaker 2: seventy five thousand, and it is positively good.

568
00:26:15,240 --> 00:26:17,199
Speaker 3: That is such a money win. Let's go to a

569
00:26:17,240 --> 00:26:19,320
Speaker 3: really quick break on the flip side. I want to

570
00:26:19,359 --> 00:26:23,400
Speaker 3: dive into the properties that you own, your property strategy,

571
00:26:23,680 --> 00:26:26,120
Speaker 3: and how you knew that property was the right one

572
00:26:26,160 --> 00:26:32,679
Speaker 3: for you to purchase. Guys, don't go anywhere, all right,

573
00:26:32,720 --> 00:26:35,040
Speaker 3: money direst We are back and we are starting to

574
00:26:35,080 --> 00:26:38,479
Speaker 3: talk about your investments. So before you told us about

575
00:26:38,520 --> 00:26:41,719
Speaker 3: your first house, can you just quickly recap your first

576
00:26:41,760 --> 00:26:44,080
Speaker 3: property and then let's talk about your second.

577
00:26:44,280 --> 00:26:47,560
Speaker 2: Yes. So my first property is in Perth. It is

578
00:26:47,560 --> 00:26:51,040
Speaker 2: a two bedroom, one bath, one car apartment and I

579
00:26:51,080 --> 00:26:54,000
Speaker 2: purchased it in November of twenty twenty three. I paid

580
00:26:54,040 --> 00:26:56,919
Speaker 2: three hundred and twenty thousand dollars to purchase it. My

581
00:26:57,000 --> 00:27:00,840
Speaker 2: deposit was seventy five thousand, mortgage repayments about four twenty

582
00:27:00,880 --> 00:27:03,560
Speaker 2: a week, and my rent is five point forty making

583
00:27:03,600 --> 00:27:04,440
Speaker 2: it positively gear.

584
00:27:04,640 --> 00:27:07,840
Speaker 3: Tell me more, how did you find that property and

585
00:27:07,880 --> 00:27:10,119
Speaker 3: how did you go This is for me like, this

586
00:27:10,320 --> 00:27:14,320
Speaker 3: is the right deal, Like I should absolutely be purchasing

587
00:27:14,320 --> 00:27:17,159
Speaker 3: this property because you don't live in perse like that

588
00:27:17,280 --> 00:27:20,080
Speaker 3: could be really scary buying literally on the other side

589
00:27:20,080 --> 00:27:21,960
Speaker 3: of the country when you live on the East coast.

590
00:27:22,160 --> 00:27:24,760
Speaker 2: Yeah, it was kind of scary. And I spoke to

591
00:27:24,760 --> 00:27:26,280
Speaker 2: my bias agent and I said, should we go over

592
00:27:26,320 --> 00:27:27,840
Speaker 2: and check it out? And he was like, no, you

593
00:27:27,920 --> 00:27:30,480
Speaker 2: do not need to go. It's okay, Like we're getting

594
00:27:30,520 --> 00:27:33,320
Speaker 2: building and pess inspections and you'll have like a lot

595
00:27:33,320 --> 00:27:35,639
Speaker 2: of information sent your way regardless. I like that.

596
00:27:35,760 --> 00:27:38,639
Speaker 3: He was like, nah, you're fine, You're fine. Yeah, that

597
00:27:38,680 --> 00:27:40,720
Speaker 3: would give me anxiety, Like I need to see it.

598
00:27:41,359 --> 00:27:42,879
Speaker 2: I know. I wanted to see it. I wanted to

599
00:27:42,920 --> 00:27:44,400
Speaker 2: be there, but he had done it so many times,

600
00:27:44,440 --> 00:27:46,960
Speaker 2: and I thought, just trust the process, Like people come

601
00:27:47,000 --> 00:27:50,480
Speaker 2: to me who need my help my specialty, and I'm

602
00:27:50,480 --> 00:27:52,400
Speaker 2: going to him because I need his specialty. So I'm

603
00:27:52,400 --> 00:27:55,720
Speaker 2: just gonna let him guide the way. But yeah, So

604
00:27:56,040 --> 00:27:59,199
Speaker 2: we found the six in the complex and I purchased

605
00:27:59,280 --> 00:28:02,560
Speaker 2: number six, but number five was currently up for sale

606
00:28:02,920 --> 00:28:05,639
Speaker 2: and I saw it. It didn't have any photos, and

607
00:28:05,720 --> 00:28:08,520
Speaker 2: I looked it up online and I looked at the

608
00:28:08,560 --> 00:28:11,719
Speaker 2: exterior of the building. I looked at number one, two, three, four,

609
00:28:11,760 --> 00:28:14,280
Speaker 2: because I had also all just been sold so I

610
00:28:14,320 --> 00:28:16,919
Speaker 2: was having a look at all of them. Another's buyer's

611
00:28:16,960 --> 00:28:19,600
Speaker 2: agent was actually purchasing them all for their clients, and

612
00:28:19,600 --> 00:28:22,840
Speaker 2: that's kind of what happened. But number six hadn't been

613
00:28:22,840 --> 00:28:25,120
Speaker 2: put on the market yet, and I didn't know this.

614
00:28:25,240 --> 00:28:26,800
Speaker 2: I spoke to my buyer's agent and.

615
00:28:26,720 --> 00:28:29,000
Speaker 3: You're like, hello, that sounds really interesting.

616
00:28:29,359 --> 00:28:31,800
Speaker 2: Yeah. He's like, is there any others available? And he said, look,

617
00:28:31,840 --> 00:28:35,199
Speaker 2: number six is about to go. Somebody's already negotiated the

618
00:28:35,280 --> 00:28:38,000
Speaker 2: price down, but they don't have a buyer, so if

619
00:28:38,000 --> 00:28:40,240
Speaker 2: you want it, you can take it. And it was

620
00:28:40,280 --> 00:28:43,200
Speaker 2: below market value. Market value at the time was about

621
00:28:43,280 --> 00:28:47,280
Speaker 2: three sixty and I ended up purchasing it for three twenty.

622
00:28:47,400 --> 00:28:48,160
Speaker 3: What the hell?

623
00:28:48,480 --> 00:28:51,680
Speaker 2: That is actually elite, I know, and I made profits

624
00:28:51,720 --> 00:28:52,320
Speaker 2: straight away.

625
00:28:52,520 --> 00:28:55,520
Speaker 3: Oh my god, I am so excited for you. And

626
00:28:55,560 --> 00:28:59,160
Speaker 3: this is during a time so you were purchasing in

627
00:28:59,280 --> 00:29:02,360
Speaker 3: twenty twenty three, so when you're purchasing, and I want

628
00:29:02,360 --> 00:29:04,400
Speaker 3: to just give people a little bit of context, because

629
00:29:04,440 --> 00:29:06,719
Speaker 3: not everyone's been through that property journey, and I mean,

630
00:29:06,760 --> 00:29:08,680
Speaker 3: we're all pervy, my love, like we need to know.

631
00:29:09,120 --> 00:29:11,680
Speaker 3: But if you were purchasing at the end of last year,

632
00:29:11,800 --> 00:29:14,760
Speaker 3: you weren't getting COVID interest rates, like you were getting

633
00:29:14,840 --> 00:29:18,120
Speaker 3: high interest rates? So what were your interest rates on

634
00:29:18,240 --> 00:29:21,440
Speaker 3: these properties? Because so many people over the last twelve

635
00:29:21,520 --> 00:29:23,120
Speaker 3: to eighteen months like, no, don't want to buy it.

636
00:29:23,280 --> 00:29:25,600
Speaker 3: Interest rates are way too high, Like that's really scary.

637
00:29:25,640 --> 00:29:27,960
Speaker 3: I'm going to wait for them to come off. Why

638
00:29:28,040 --> 00:29:29,160
Speaker 3: weren't you thinking like that?

639
00:29:29,680 --> 00:29:32,480
Speaker 2: I was thinking it's more about time in the market

640
00:29:32,720 --> 00:29:33,880
Speaker 2: rather timing the market.

641
00:29:34,000 --> 00:29:36,400
Speaker 3: Oh you are as she's on the money dream story.

642
00:29:36,520 --> 00:29:38,280
Speaker 2: I just wanted to drop that. I've been listening for

643
00:29:38,360 --> 00:29:38,880
Speaker 2: a little bit.

644
00:29:40,120 --> 00:29:43,160
Speaker 3: No, I love that. But what were your interest rates?

645
00:29:43,200 --> 00:29:44,880
Speaker 3: And did you go, oh, is this a good or

646
00:29:44,880 --> 00:29:47,480
Speaker 3: a bad idea? Are you fixed or variable? What does

647
00:29:47,480 --> 00:29:48,080
Speaker 3: that look like?

648
00:29:48,360 --> 00:29:51,920
Speaker 2: So I'm variable and my interest rate when I started

649
00:29:51,960 --> 00:29:54,160
Speaker 2: was six point four or five and it has gone

650
00:29:54,200 --> 00:29:57,520
Speaker 2: up to six point six. And I'm not too stressed

651
00:29:57,600 --> 00:30:00,440
Speaker 2: about the interest rate because the yield is so hi.

652
00:30:00,960 --> 00:30:05,120
Speaker 2: My property has a yield of about eight point eight percent. Yeah,

653
00:30:05,360 --> 00:30:08,680
Speaker 2: what I know. I'm so fortunate. And it's because we

654
00:30:08,800 --> 00:30:13,440
Speaker 2: purchased the property before the market was peaking, and then

655
00:30:13,640 --> 00:30:17,440
Speaker 2: the rent has obviously skyrocketed. In Perth, I could charge

656
00:30:17,480 --> 00:30:20,040
Speaker 2: a lot more from rent, but I don't want to

657
00:30:20,080 --> 00:30:22,200
Speaker 2: do that to the tenants. I would rather have tenants

658
00:30:22,280 --> 00:30:25,120
Speaker 2: that value the property and look after it rather than

659
00:30:25,240 --> 00:30:26,680
Speaker 2: charging them everything that they've got.

660
00:30:26,760 --> 00:30:29,560
Speaker 3: Yeah, you're an icon and that's a really sustainable model.

661
00:30:29,640 --> 00:30:31,200
Speaker 3: Like a lot of people will be listening to this

662
00:30:31,280 --> 00:30:33,160
Speaker 3: and they're like that so greedy. I can't believe you'd

663
00:30:33,160 --> 00:30:35,800
Speaker 3: buy property and you know, hoard it. There's a whole

664
00:30:35,880 --> 00:30:38,880
Speaker 3: heap of conversation to be had around this, and I

665
00:30:39,040 --> 00:30:42,040
Speaker 3: just I would actually like to see more ethical landlords

666
00:30:42,120 --> 00:30:46,040
Speaker 3: because in our current economy, in the Australian economy moving forward,

667
00:30:46,360 --> 00:30:49,120
Speaker 3: there is not going to be a situation where people

668
00:30:49,240 --> 00:30:52,840
Speaker 3: are not renting, like people need to rent at the

669
00:30:52,960 --> 00:30:55,360
Speaker 3: end of the day. And I would much prefer ethical

670
00:30:55,440 --> 00:30:58,040
Speaker 3: landlords like you, who are like I would prefer to

671
00:30:58,080 --> 00:31:00,479
Speaker 3: buy the house. I'm getting great rental yield. This property

672
00:31:00,520 --> 00:31:03,200
Speaker 3: is helping me, but also the people that live there

673
00:31:03,320 --> 00:31:06,360
Speaker 3: are valued and they aren't getting charged extortion at rent.

674
00:31:06,720 --> 00:31:08,960
Speaker 3: And I think that that's where we need to sit.

675
00:31:09,520 --> 00:31:12,880
Speaker 3: And even if you have ten properties, that's ten families

676
00:31:12,920 --> 00:31:15,440
Speaker 3: that you could be helping by not taking the mickey.

677
00:31:15,600 --> 00:31:17,560
Speaker 2: Yeah, that's what I always think because I've had this

678
00:31:17,600 --> 00:31:20,800
Speaker 2: conversation with friends and family, and I know that the

679
00:31:20,840 --> 00:31:25,040
Speaker 2: government doesn't have enough housing for everyone, and who houses

680
00:31:25,440 --> 00:31:30,200
Speaker 2: majority of the renters. It's individual landlords like myself, and

681
00:31:30,240 --> 00:31:33,080
Speaker 2: we're giving people a place to stay. Plus when something's

682
00:31:33,080 --> 00:31:36,440
Speaker 2: broken or something isn't right and my tenant says it immediately,

683
00:31:36,520 --> 00:31:37,280
Speaker 2: I get it fixed.

684
00:31:37,480 --> 00:31:40,480
Speaker 3: Yeah, you're a good landlord. Not everyone is the same

685
00:31:40,520 --> 00:31:43,000
Speaker 3: as you, though. Some people are insanely greedy and don't

686
00:31:43,040 --> 00:31:44,880
Speaker 3: want to do that. And I think that there needs

687
00:31:44,880 --> 00:31:46,480
Speaker 3: to be a balance, like if this is going to

688
00:31:46,480 --> 00:31:49,880
Speaker 3: be part of your you know, wealth creation strategy, like

689
00:31:49,960 --> 00:31:52,000
Speaker 3: how do we do good and be good along the way.

690
00:31:52,360 --> 00:31:54,440
Speaker 3: There's been a lot of conversation. You've probably seen it

691
00:31:54,440 --> 00:31:56,440
Speaker 3: in the She's on the many community. It's not evolving me,

692
00:31:56,520 --> 00:31:58,640
Speaker 3: but I do let them have their time to you know,

693
00:31:58,760 --> 00:32:01,080
Speaker 3: share their opinions. But at the end of the day,

694
00:32:01,640 --> 00:32:06,240
Speaker 3: like we need rental properties on the rental market, and

695
00:32:06,320 --> 00:32:08,680
Speaker 3: they're only going to go on the rental market if

696
00:32:08,720 --> 00:32:10,440
Speaker 3: they are bought as investment properties.

697
00:32:10,600 --> 00:32:13,520
Speaker 2: Yeah, exactly. So I'm really fortunate that I've worked hard

698
00:32:13,600 --> 00:32:15,960
Speaker 2: enough to be able to assist these people in where

699
00:32:15,960 --> 00:32:18,160
Speaker 2: they're able to live. I know, like when I was

700
00:32:18,200 --> 00:32:20,920
Speaker 2: looking for a place in Perth to purchase. I was

701
00:32:20,920 --> 00:32:23,960
Speaker 2: talking to a few agents and they said that people

702
00:32:23,960 --> 00:32:25,760
Speaker 2: are living in their cars and these are not just

703
00:32:25,880 --> 00:32:29,560
Speaker 2: like anyone like doctors and lawyers and people that are

704
00:32:29,600 --> 00:32:32,480
Speaker 2: having these high paying jobs. They're still struggling to find

705
00:32:32,520 --> 00:32:34,120
Speaker 2: a place to live. There's not enough housing.

706
00:32:34,200 --> 00:32:36,920
Speaker 3: Yeah, one hundred percent. And you buying more investment properties

707
00:32:37,040 --> 00:32:39,320
Speaker 3: is not going to stop that problem, but it is

708
00:32:39,400 --> 00:32:41,440
Speaker 3: going to open it up, because if we're all just

709
00:32:41,480 --> 00:32:44,360
Speaker 3: waiting for first home buyers to purchase their first homes

710
00:32:44,400 --> 00:32:46,520
Speaker 3: and then move into them, that's actually not helping us

711
00:32:46,560 --> 00:32:47,640
Speaker 3: wear a housing crisis.

712
00:32:47,800 --> 00:32:50,600
Speaker 2: Yeah. On a lighter note, I was then able to

713
00:32:50,720 --> 00:32:54,200
Speaker 2: use the equity from that first property to help me

714
00:32:54,280 --> 00:32:57,480
Speaker 2: purchase the second one in June of twenty twenty four.

715
00:32:57,560 --> 00:32:59,960
Speaker 3: Oh my god, So tell me about this second one.

716
00:33:00,000 --> 00:33:02,920
Speaker 3: And you used some equity. How did you use equity

717
00:33:03,040 --> 00:33:04,960
Speaker 3: and what did that process look like?

718
00:33:05,160 --> 00:33:07,840
Speaker 2: It was quite seamless for me because I didn't do

719
00:33:07,960 --> 00:33:09,680
Speaker 2: any of the money side of it. Yep.

720
00:33:09,720 --> 00:33:10,840
Speaker 3: Your broker was a legend.

721
00:33:11,080 --> 00:33:14,600
Speaker 2: Yes, she was a legend, and she pulled money out

722
00:33:14,760 --> 00:33:19,040
Speaker 2: of my first property to then put it into the next.

723
00:33:19,160 --> 00:33:22,440
Speaker 2: So we pulled out thirty four thousand dollars worth of

724
00:33:22,480 --> 00:33:25,160
Speaker 2: equity because the property had gone up and we didn't

725
00:33:25,160 --> 00:33:28,040
Speaker 2: want my first property to go into Elmi territory.

726
00:33:28,160 --> 00:33:30,200
Speaker 3: Yeap, No, that makes sense. And so did you have

727
00:33:30,240 --> 00:33:32,800
Speaker 3: to cough up any cash at all for that purchase?

728
00:33:33,040 --> 00:33:35,959
Speaker 2: Yeah? I had twenty grand already to go, So I

729
00:33:35,960 --> 00:33:38,640
Speaker 2: paid twenty grand of my own plus thirty four thousand

730
00:33:38,680 --> 00:33:39,560
Speaker 2: dollars of equity.

731
00:33:39,640 --> 00:33:40,760
Speaker 3: That's really cool though.

732
00:33:40,960 --> 00:33:43,120
Speaker 2: Yeah, I was in Elmi for that. I think I

733
00:33:43,160 --> 00:33:46,600
Speaker 2: had eighteen percent or just under the twenty percent deposit.

734
00:33:46,960 --> 00:33:50,920
Speaker 2: But with the higher interest rate, it still became beneficial

735
00:33:50,960 --> 00:33:52,600
Speaker 2: for me because my yield was so high.

736
00:33:52,720 --> 00:33:55,240
Speaker 3: I love that. Tell me about how much debt you

737
00:33:55,280 --> 00:33:55,880
Speaker 3: have now?

738
00:33:56,080 --> 00:33:59,959
Speaker 2: So I have two hundred and eighty four thousand dollars

739
00:34:00,160 --> 00:34:03,640
Speaker 2: my first property in debt. My second property is two

740
00:34:03,720 --> 00:34:06,560
Speaker 2: hundred and fifty four thousand dollars, and I have a

741
00:34:06,600 --> 00:34:10,440
Speaker 2: hex's debt. It was originally sixty thousand, six hundred, but

742
00:34:10,520 --> 00:34:13,720
Speaker 2: I've windled it down to thirty seven eight hundred.

743
00:34:13,840 --> 00:34:15,680
Speaker 3: Wow, that is so cool.

744
00:34:16,160 --> 00:34:18,640
Speaker 2: Yeah, I'm not stressed about the debt because it's still

745
00:34:18,880 --> 00:34:21,400
Speaker 2: you know, my hex will go like slowly. It hasn't

746
00:34:21,440 --> 00:34:24,680
Speaker 2: stopped me from borrowing, and my two properties they're paying

747
00:34:24,680 --> 00:34:25,520
Speaker 2: themselves off. Yeah.

748
00:34:25,560 --> 00:34:28,720
Speaker 3: So you said the property you purchased in November twenty

749
00:34:28,719 --> 00:34:31,880
Speaker 3: twenty three, you are paying on your mortgage about four

750
00:34:31,960 --> 00:34:34,399
Speaker 3: hundred and fifty dollars a week, but you're getting five

751
00:34:34,440 --> 00:34:37,320
Speaker 3: hundred dollars a week in rent. Is that the same

752
00:34:37,480 --> 00:34:38,720
Speaker 3: for the second property.

753
00:34:38,880 --> 00:34:42,040
Speaker 2: Yeah? So I'm paying four hundred and twenty for the

754
00:34:42,120 --> 00:34:45,040
Speaker 2: second property and I'm getting five hundred and fifty dollars.

755
00:34:45,160 --> 00:34:47,720
Speaker 3: Well, that's an even better deal. What's the rental yield

756
00:34:47,719 --> 00:34:48,400
Speaker 3: on that?

757
00:34:48,400 --> 00:34:49,960
Speaker 2: That's also eight point eight percent?

758
00:34:50,040 --> 00:34:53,000
Speaker 3: Oh my gosh. I am, honest to god, so proud

759
00:34:53,000 --> 00:34:54,640
Speaker 3: of you. You were a little hustler.

760
00:34:54,880 --> 00:34:56,799
Speaker 2: Yeah, And to be honest, I wasn't even looking for

761
00:34:56,880 --> 00:35:00,000
Speaker 2: a second property. Well, I was looking for a second property,

762
00:35:00,000 --> 00:35:01,839
Speaker 2: but I didn't want to get it in Perth. Yeah,

763
00:35:01,880 --> 00:35:04,400
Speaker 2: I was being in Brisbane or Gold Coast.

764
00:35:04,560 --> 00:35:05,680
Speaker 3: You want some diversity.

765
00:35:06,040 --> 00:35:08,520
Speaker 2: Yeah, I wanted to change it up. I know that like,

766
00:35:08,560 --> 00:35:10,920
Speaker 2: if I just stuck with the one market, it could crash,

767
00:35:10,920 --> 00:35:13,240
Speaker 2: and that's all my assets there. I wanted to spread

768
00:35:13,280 --> 00:35:16,840
Speaker 2: them out. But my buyer's agent contacted me because somebody

769
00:35:16,880 --> 00:35:19,520
Speaker 2: had just pulled out of this property. The second one

770
00:35:19,560 --> 00:35:20,040
Speaker 2: I got.

771
00:35:19,920 --> 00:35:21,680
Speaker 3: Yeah, no, I'll snap it up at eight point eight

772
00:35:21,680 --> 00:35:24,839
Speaker 3: percent yield, Like I would have said yes before he'd

773
00:35:24,840 --> 00:35:26,000
Speaker 3: even finished the conversation.

774
00:35:26,400 --> 00:35:28,120
Speaker 2: Yeah, it was a no brain. I was like, get

775
00:35:28,120 --> 00:35:32,319
Speaker 2: me in, I will take it, yes, please, I will

776
00:35:32,320 --> 00:35:32,920
Speaker 2: sign now.

777
00:35:33,080 --> 00:35:35,760
Speaker 3: I love that, but I love that a long this journey.

778
00:35:36,280 --> 00:35:38,120
Speaker 3: A lot of it has to do with your good

779
00:35:38,200 --> 00:35:42,080
Speaker 3: savings ability, because you couldn't have seized that opportunity if

780
00:35:42,160 --> 00:35:44,920
Speaker 3: you didn't have that additional twenty thousand dollars in cash

781
00:35:44,960 --> 00:35:47,080
Speaker 3: sitting to the side. So it's not as though you

782
00:35:47,120 --> 00:35:50,560
Speaker 3: can just be super passive about property along the way,

783
00:35:50,640 --> 00:35:52,080
Speaker 3: like and just go, oh, well, I got into my

784
00:35:52,080 --> 00:35:53,880
Speaker 3: first and I'm going to wait until there's equity for

785
00:35:53,920 --> 00:35:56,520
Speaker 3: the second, like you could, but it'll take a lot longer.

786
00:35:56,560 --> 00:35:59,440
Speaker 3: But you've been saving along the side, which meant that

787
00:35:59,480 --> 00:36:01,840
Speaker 3: when he said, oh, on's just been put to the side,

788
00:36:01,880 --> 00:36:04,360
Speaker 3: You're like, yeah, noorries, I'll take that, thank you. Like

789
00:36:04,640 --> 00:36:07,279
Speaker 3: what a way to seize an opportunity, I know.

790
00:36:07,400 --> 00:36:09,480
Speaker 2: And because I had that cash, I was able to

791
00:36:09,480 --> 00:36:12,319
Speaker 2: get in the market sooner. And my broker has done

792
00:36:12,320 --> 00:36:15,000
Speaker 2: a valuation on both of my properties, and I'm now

793
00:36:15,040 --> 00:36:17,480
Speaker 2: able to put one hundred and twenty one thousand dollars

794
00:36:17,520 --> 00:36:20,640
Speaker 2: out of both properties to put towards my next three All.

795
00:36:20,640 --> 00:36:23,600
Speaker 3: Right, tell me about that. What's the strategy, what's the plan,

796
00:36:23,840 --> 00:36:25,280
Speaker 3: what are we doing moving forward?

797
00:36:25,440 --> 00:36:29,160
Speaker 2: So the plan is to purchase in high growth areas

798
00:36:29,200 --> 00:36:33,200
Speaker 2: that also have a reasonable yield that cover all, if

799
00:36:33,280 --> 00:36:38,719
Speaker 2: not majority, of my repayments, so that my overall portfolio

800
00:36:38,880 --> 00:36:41,719
Speaker 2: is positive. I'd rather overall positive. I can have a

801
00:36:41,760 --> 00:36:43,000
Speaker 2: few negative properties in.

802
00:36:42,960 --> 00:36:45,840
Speaker 3: There, Yeah, because those ones over time are probably I guess,

803
00:36:46,719 --> 00:36:50,359
Speaker 3: wealth builders, because they're going to increase in value rather

804
00:36:50,440 --> 00:36:51,960
Speaker 3: than just have good rental yield.

805
00:36:52,160 --> 00:36:56,320
Speaker 2: Yeah. And the ones that can grow faster or grow slower,

806
00:36:56,440 --> 00:36:59,640
Speaker 2: but larger amounts of equity for me than means I

807
00:36:59,640 --> 00:37:02,200
Speaker 2: can then go and purchase more properties down the track

808
00:37:02,280 --> 00:37:04,040
Speaker 2: without using cash that I've had to save.

809
00:37:04,239 --> 00:37:06,759
Speaker 3: Oh my gosh. And is your broker just on your

810
00:37:06,800 --> 00:37:09,480
Speaker 3: team to make sure that this is always being checked

811
00:37:09,480 --> 00:37:12,279
Speaker 3: in on, always having your interest rates reviewed, and like

812
00:37:12,400 --> 00:37:14,720
Speaker 3: knowing at what point you can purchase again.

813
00:37:14,840 --> 00:37:17,839
Speaker 2: Yeah, she's fantastic. We even had a big phone call.

814
00:37:17,880 --> 00:37:20,120
Speaker 2: I said, I want to get ten and I don't

815
00:37:20,120 --> 00:37:22,720
Speaker 2: want to stop, Like, I don't want to be unable

816
00:37:22,760 --> 00:37:25,960
Speaker 2: to service these loans. So we've set up a company

817
00:37:26,000 --> 00:37:29,400
Speaker 2: and a discretionary trust to purchase my future properties under.

818
00:37:29,280 --> 00:37:31,480
Speaker 3: I Connie, I was about to say, so, how is

819
00:37:31,520 --> 00:37:34,160
Speaker 3: this structured in the background, Like, have you seen an

820
00:37:34,160 --> 00:37:37,120
Speaker 3: accountant to make sure that you know that cash flow

821
00:37:37,200 --> 00:37:39,160
Speaker 3: is going through your property portfolio?

822
00:37:39,360 --> 00:37:41,960
Speaker 2: Yeah, so it's all been set up, which is fantastic.

823
00:37:42,080 --> 00:37:42,600
Speaker 3: I'm obseested.

824
00:37:42,600 --> 00:37:44,480
Speaker 2: So I now own a company and a trust, which

825
00:37:44,520 --> 00:37:46,520
Speaker 2: is just crazy because I feel like this stuff just

826
00:37:46,560 --> 00:37:48,440
Speaker 2: goes over my head a little bit. But I'm so

827
00:37:48,600 --> 00:37:51,520
Speaker 2: fortunate to have the best team who's able to explain

828
00:37:51,600 --> 00:37:54,719
Speaker 2: everything and make sure all the eyes are dotted and

829
00:37:54,719 --> 00:37:55,560
Speaker 2: all the teas across.

830
00:37:55,640 --> 00:38:00,560
Speaker 3: Yeah, adoor adore, I'm so obsessed with this. For you. Congratulations. Literally,

831
00:38:00,719 --> 00:38:04,400
Speaker 3: that is honestly so impressive. Tell me what can we

832
00:38:04,480 --> 00:38:06,160
Speaker 3: learn from you? What's your best money habit?

833
00:38:06,360 --> 00:38:09,000
Speaker 2: Well? I never buy anything full price, like that is

834
00:38:09,040 --> 00:38:12,840
Speaker 2: just not something that happens. I look on Facebook, Marketplace, eBay,

835
00:38:13,280 --> 00:38:17,279
Speaker 2: op shops sales like I go to the gym and

836
00:38:17,480 --> 00:38:20,120
Speaker 2: I go to one of those major gyms and they

837
00:38:20,160 --> 00:38:23,680
Speaker 2: always have sales. But I don't want to pay the price. Like,

838
00:38:23,719 --> 00:38:27,120
Speaker 2: my gym membership is usually thirty two dollars a week,

839
00:38:27,239 --> 00:38:29,600
Speaker 2: which for me, I think like, yeah, okay, but it's

840
00:38:29,640 --> 00:38:31,400
Speaker 2: a little on the higher end.

841
00:38:31,320 --> 00:38:33,560
Speaker 3: An investment in your health. But I get it.

842
00:38:33,719 --> 00:38:36,759
Speaker 2: So I called around. Because they're all individually owned, I'd

843
00:38:36,760 --> 00:38:38,839
Speaker 2: call around and say, hey, like, what's the best price

844
00:38:38,920 --> 00:38:40,799
Speaker 2: you can do? Okay, I'd get that price, go to

845
00:38:40,840 --> 00:38:43,120
Speaker 2: the next one. Hey, so and so can do this price.

846
00:38:43,200 --> 00:38:45,400
Speaker 2: What can you do? And I ended up getting my

847
00:38:45,560 --> 00:38:46,239
Speaker 2: membership down.

848
00:38:46,320 --> 00:38:48,359
Speaker 3: You're a legit hustler. I love it.

849
00:38:49,640 --> 00:38:51,719
Speaker 2: I just love a deal. I love a good deal.

850
00:38:51,800 --> 00:38:54,040
Speaker 2: But I got my gym membership down to nineteen dollars

851
00:38:54,080 --> 00:38:54,399
Speaker 2: a week.

852
00:38:54,400 --> 00:38:56,960
Speaker 3: Oh my god, don't ask. Don't get though, Yeah, you're

853
00:38:57,000 --> 00:38:59,480
Speaker 3: saving cash, Like, and if you don't ask, the answer

854
00:38:59,560 --> 00:39:02,680
Speaker 3: is immediately no. And if you ask, like, no one's

855
00:39:02,680 --> 00:39:04,600
Speaker 3: going to judge you because usually the people that you're

856
00:39:04,600 --> 00:39:06,279
Speaker 3: talking to are just like you, and they're like, oh,

857
00:39:06,320 --> 00:39:07,080
Speaker 3: this girl's savvy.

858
00:39:07,200 --> 00:39:09,719
Speaker 2: But they even go wow, like I appreciate what you're doing,

859
00:39:09,880 --> 00:39:12,120
Speaker 2: Like you're smart, you're trying to beat the system.

860
00:39:12,239 --> 00:39:14,920
Speaker 3: Yeah, I see what you're doing. I respect it. Here

861
00:39:14,920 --> 00:39:17,160
Speaker 3: you go nineteen bucks a week, money ween.

862
00:39:17,400 --> 00:39:20,400
Speaker 2: Yeah, exactly, So that's probably my best one, you know,

863
00:39:20,440 --> 00:39:23,520
Speaker 2: always asking, always trying to get the best deal, negotiating.

864
00:39:23,760 --> 00:39:26,560
Speaker 3: I love that. Tell me, though, are you bout at anything?

865
00:39:26,640 --> 00:39:28,759
Speaker 3: What's your worst money habit? I have two.

866
00:39:29,560 --> 00:39:32,920
Speaker 2: My first one is that I have become a willing

867
00:39:33,239 --> 00:39:34,800
Speaker 2: victim of lifestyle creep.

868
00:39:34,960 --> 00:39:35,200
Speaker 3: Yeah.

869
00:39:35,320 --> 00:39:38,480
Speaker 2: And I'm enjoying getting my nails done and you know,

870
00:39:38,600 --> 00:39:41,840
Speaker 2: having a personal trainer and going out for more dinners.

871
00:39:41,840 --> 00:39:44,920
Speaker 2: And I know I could be spending my money better

872
00:39:45,040 --> 00:39:47,240
Speaker 2: to reach my goals, Like my goals are big goals,

873
00:39:47,239 --> 00:39:48,839
Speaker 2: and I know I need to put a lot of

874
00:39:48,840 --> 00:39:52,479
Speaker 2: money aside. And because I've now earned over one hundred

875
00:39:52,520 --> 00:39:55,919
Speaker 2: thousand dollars, everything's just like I'm not saving as much

876
00:39:55,960 --> 00:39:58,279
Speaker 2: and I need to pair it back and pretend that

877
00:39:58,320 --> 00:40:01,160
Speaker 2: I only have seventy thousand and dollars of income to

878
00:40:01,200 --> 00:40:01,759
Speaker 2: save more.

879
00:40:01,920 --> 00:40:04,040
Speaker 3: Yeah, that's fair, that's fair, And I do you know

880
00:40:04,080 --> 00:40:07,040
Speaker 3: what I feel like? That's so common in the first

881
00:40:07,120 --> 00:40:09,640
Speaker 3: few years as a small business owner, when you start

882
00:40:09,640 --> 00:40:11,920
Speaker 3: to earn more and have a little bit more financial freedom,

883
00:40:12,239 --> 00:40:15,439
Speaker 3: you really utilize that and then give it another twelve

884
00:40:15,520 --> 00:40:17,200
Speaker 3: months and you'll be like, nah, I'm going to crack

885
00:40:17,239 --> 00:40:19,680
Speaker 3: down again because like, you know, I'm not achieving the

886
00:40:19,680 --> 00:40:21,520
Speaker 3: big goals as fast as I want to.

887
00:40:21,800 --> 00:40:24,640
Speaker 2: Yeah exactly. I mean, like, do I really need hot

888
00:40:24,719 --> 00:40:26,680
Speaker 2: pink nails every week? Probably not?

889
00:40:26,880 --> 00:40:29,800
Speaker 3: Oh sorry, wrong answer for me. Whoops, whoops.

890
00:40:30,480 --> 00:40:32,640
Speaker 2: Maybe I could paint them myself, Okay.

891
00:40:32,480 --> 00:40:34,680
Speaker 3: Like I do do that and I really enjoy it,

892
00:40:34,760 --> 00:40:36,880
Speaker 3: Like I always do my own nails at home, and

893
00:40:36,920 --> 00:40:39,160
Speaker 3: it's kind of become like a little bit cathartic, like

894
00:40:39,200 --> 00:40:42,439
Speaker 3: I have a fun time doing it, but that's over time,

895
00:40:42,600 --> 00:40:44,520
Speaker 3: Like I used to be the girlie that got ownail's

896
00:40:44,560 --> 00:40:46,640
Speaker 3: done all the time. In saying that I can't do

897
00:40:46,680 --> 00:40:49,200
Speaker 3: my own lashes myself, and like that's something I'm not

898
00:40:49,200 --> 00:40:51,200
Speaker 3: willing to give up. So I think that there needs

899
00:40:51,239 --> 00:40:53,919
Speaker 3: to be some level of balance of enjoying the now

900
00:40:54,000 --> 00:40:56,600
Speaker 3: but also creating wealth into the future. And I think

901
00:40:56,640 --> 00:40:58,480
Speaker 3: that it's I'm just never going to be one of

902
00:40:58,520 --> 00:41:01,840
Speaker 3: those financial independents rot early girlies, that's okay.

903
00:41:02,000 --> 00:41:05,080
Speaker 2: I think I will also love the luxuries of life

904
00:41:05,120 --> 00:41:06,279
Speaker 2: a little bit too much too.

905
00:41:06,360 --> 00:41:08,040
Speaker 3: I don't think there's any shame in that. I think

906
00:41:08,080 --> 00:41:10,280
Speaker 3: it's just like, no, this is how I like allocating

907
00:41:10,320 --> 00:41:13,040
Speaker 3: my money, and I'm very aware of my values exactly.

908
00:41:13,600 --> 00:41:17,200
Speaker 2: But my second worst habit would be, like I feel

909
00:41:17,280 --> 00:41:19,919
Speaker 2: like I need to buy things because they are such

910
00:41:19,920 --> 00:41:22,560
Speaker 2: a good deal. When I see a deal, I can't

911
00:41:22,600 --> 00:41:25,239
Speaker 2: walk away. I was at an op shop and I

912
00:41:25,280 --> 00:41:29,279
Speaker 2: saw the ugliest dress. It's so ugly. It was a

913
00:41:29,320 --> 00:41:33,160
Speaker 2: deer only dress with boning in this weird greeny blue

914
00:41:33,160 --> 00:41:36,279
Speaker 2: color with pleating, and it looked terrible on me. But

915
00:41:36,320 --> 00:41:38,400
Speaker 2: it had brand new tags on for seven hundred and

916
00:41:38,400 --> 00:41:40,520
Speaker 2: fifty dollars and I bought it for fifteen So how

917
00:41:40,520 --> 00:41:40,960
Speaker 2: could I not?

918
00:41:41,080 --> 00:41:43,799
Speaker 3: Okay? Well, but also if it looks terrible on you,

919
00:41:43,840 --> 00:41:46,320
Speaker 3: like you could sell that like for fifteen bucks, like

920
00:41:46,360 --> 00:41:48,200
Speaker 3: you're going to get fifty at least, Like you know

921
00:41:48,200 --> 00:41:50,200
Speaker 3: what I mean, Like you're a hustler. What are you

922
00:41:50,239 --> 00:41:50,959
Speaker 3: doing with the dress?

923
00:41:50,960 --> 00:41:51,120
Speaker 2: Low?

924
00:41:51,160 --> 00:41:52,440
Speaker 3: Have you just put it in your wardrobe?

925
00:41:52,560 --> 00:41:53,560
Speaker 2: Yeah, it's just sitting here.

926
00:41:53,600 --> 00:41:55,239
Speaker 3: Are you going to sell it? You're going to wear it?

927
00:41:55,280 --> 00:41:57,239
Speaker 3: Like if it doesn't look good on you, get rid

928
00:41:57,280 --> 00:41:57,480
Speaker 3: of that.

929
00:41:57,920 --> 00:41:59,600
Speaker 2: Yeah, I know I need to do something, But the

930
00:41:59,640 --> 00:42:01,440
Speaker 2: thing is I have so many of those things, like

931
00:42:01,480 --> 00:42:03,560
Speaker 2: they all just accumulate. I need to go to in

932
00:42:03,560 --> 00:42:04,760
Speaker 2: set up like a market store.

933
00:42:04,920 --> 00:42:08,040
Speaker 3: No, you don't you need to just become a deepop girly. Yes,

934
00:42:08,280 --> 00:42:11,360
Speaker 3: take a photo of it, chuck it online. If it sells,

935
00:42:11,400 --> 00:42:13,200
Speaker 3: go back to your wardrobe, pull it out, pop it

936
00:42:13,239 --> 00:42:16,160
Speaker 3: in a post pac send it off so easy. Yes

937
00:42:16,320 --> 00:42:18,919
Speaker 3: exactly Jess from She's on the money, She's a deep

938
00:42:18,960 --> 00:42:21,520
Speaker 3: pop queen. But I feel like it just does the

939
00:42:21,560 --> 00:42:23,600
Speaker 3: hard work for you, Like in a market stall. I

940
00:42:23,600 --> 00:42:27,000
Speaker 3: feel like they're fun, but like that's a lot of work,

941
00:42:27,160 --> 00:42:29,719
Speaker 3: whereas snap a picture of you in the dress, pop

942
00:42:29,760 --> 00:42:30,839
Speaker 3: it online and when it.

943
00:42:30,840 --> 00:42:33,640
Speaker 2: Sells, it sells so good. I should give that a go.

944
00:42:33,800 --> 00:42:35,719
Speaker 3: I want to hear about it. Money, Dirice, this has

945
00:42:35,800 --> 00:42:39,040
Speaker 3: been elite, Like, I am obsessed with your money story.

946
00:42:39,560 --> 00:42:42,600
Speaker 3: You said though that you're a solid b but even

947
00:42:42,719 --> 00:42:46,319
Speaker 3: your like quote worst money habits are things that you

948
00:42:46,400 --> 00:42:48,160
Speaker 3: were like, no, no, no, it's like not something that

949
00:42:48,200 --> 00:42:51,120
Speaker 3: I want to change, like you know, quote worst habit,

950
00:42:51,200 --> 00:42:54,479
Speaker 3: but also like best outcome for me. I'm enjoying life

951
00:42:54,520 --> 00:42:56,839
Speaker 3: and really happy with the way I'm spending money. You're

952
00:42:56,840 --> 00:43:00,880
Speaker 3: self employed, you have two positively geared, and you're going

953
00:43:00,920 --> 00:43:03,840
Speaker 3: to buy ten. Literally you said earlier that you have

954
00:43:03,880 --> 00:43:06,520
Speaker 3: one hundred and twenty one thousand dollars worth of equity

955
00:43:06,560 --> 00:43:09,400
Speaker 3: that you can use literally today to get you into

956
00:43:09,440 --> 00:43:13,600
Speaker 3: your next three properties. Do you think that sounds like

957
00:43:13,640 --> 00:43:14,719
Speaker 3: someone who's just to.

958
00:43:14,640 --> 00:43:18,520
Speaker 2: Be I think, knowing my money mindset of me being

959
00:43:18,600 --> 00:43:22,359
Speaker 2: so money hungry and constantly working, I have a hard

960
00:43:22,400 --> 00:43:26,359
Speaker 2: time of having a break and giving myself that like

961
00:43:26,400 --> 00:43:28,240
Speaker 2: a six day or a float, like I will always

962
00:43:28,239 --> 00:43:30,839
Speaker 2: work because I am self employed. So I don't think

963
00:43:30,880 --> 00:43:34,319
Speaker 2: I'm at a level yet maybe a B plus. I

964
00:43:34,480 --> 00:43:37,919
Speaker 2: will upgrade myself too, but there's always room to grow,

965
00:43:38,000 --> 00:43:39,880
Speaker 2: and I think I won't be at an A until

966
00:43:39,960 --> 00:43:41,439
Speaker 2: I get further along my goal.

967
00:43:41,560 --> 00:43:43,600
Speaker 3: Yeah that's fair, that's fair. And I mean, if we

968
00:43:43,640 --> 00:43:46,200
Speaker 3: look at your goal pragmatically, you're twenty percent of the

969
00:43:46,200 --> 00:43:46,600
Speaker 3: way there.

970
00:43:46,640 --> 00:43:48,359
Speaker 2: I know, crazy, Yeah, but that's cool.

971
00:43:48,400 --> 00:43:51,680
Speaker 3: That's twenty percent you didn't have before twenty twenty three. Like,

972
00:43:51,800 --> 00:43:55,080
Speaker 3: that is very cool. I'm so excited about this, and

973
00:43:55,280 --> 00:43:57,360
Speaker 3: I am hoping that at some stage you're willing to

974
00:43:57,400 --> 00:43:59,520
Speaker 3: do an updated money diary, because we need to know

975
00:43:59,560 --> 00:44:02,560
Speaker 3: where you have gone and what this looks like. But

976
00:44:02,719 --> 00:44:05,080
Speaker 3: till then, Money, Doris, we have run out of time.

977
00:44:05,680 --> 00:44:07,879
Speaker 3: So it has been a pleasure. I have loved this

978
00:44:07,880 --> 00:44:10,920
Speaker 3: this is so fun. I felt so motivated to, you know,

979
00:44:11,160 --> 00:44:13,880
Speaker 3: make sure that we are all finding our own journey.

980
00:44:13,920 --> 00:44:16,400
Speaker 3: I loved what you said early on in the episode

981
00:44:16,760 --> 00:44:19,480
Speaker 3: was that you looked into property and picked the right

982
00:44:19,520 --> 00:44:22,759
Speaker 3: asset class for you. And whether people pick property or

983
00:44:22,840 --> 00:44:26,080
Speaker 3: shares or fixed interest or cash like, I don't mind,

984
00:44:26,160 --> 00:44:28,839
Speaker 3: but I love that you deep dove into working out

985
00:44:28,880 --> 00:44:31,319
Speaker 3: what worked for you and now you're going for it like,

986
00:44:31,480 --> 00:44:33,440
Speaker 3: it's just so cool. I'm so proud of you.

987
00:44:33,600 --> 00:44:34,960
Speaker 2: Thank you of course.

988
00:44:35,120 --> 00:44:37,520
Speaker 3: Oh my gosh, well, thank you for being on the show.

989
00:44:37,600 --> 00:44:39,400
Speaker 3: It has been an absolute pleasure.

990
00:44:39,560 --> 00:44:41,319
Speaker 2: Thank you so much for having me, and I love

991
00:44:41,360 --> 00:44:42,040
Speaker 2: your podcast.

992
00:44:42,280 --> 00:44:52,120
Speaker 3: Thank you now you're on it crazy. The advice shared

993
00:44:52,160 --> 00:44:54,759
Speaker 3: on She's on the Money is generally nature and does

994
00:44:54,840 --> 00:44:58,840
Speaker 3: not consider your individual circumstances. She's on the Money exists

995
00:44:58,960 --> 00:45:02,160
Speaker 3: purely for education purposes and should not be relied upon

996
00:45:02,239 --> 00:45:05,279
Speaker 3: to make an investment or financial decision. If you do

997
00:45:05,400 --> 00:45:08,400
Speaker 3: choose to buy a financial product, read the PDS TMD

998
00:45:08,560 --> 00:45:12,840
Speaker 3: and obtain appropriate financial advice tailored towards your needs. Victoria

999
00:45:12,880 --> 00:45:16,400
Speaker 3: Divine and Sheese on the Money are authorized representatives of

1000
00:45:16,480 --> 00:45:20,399
Speaker 3: Money Sherper Pty Ltd ABN three two one IS six

1001
00:45:20,520 --> 00:45:24,359
Speaker 3: four nine two seven seven zero eight AFSL four five

1002
00:45:24,480 --> 00:45:25,640
Speaker 3: one two eight nine