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The Property Investor Playbook
Welcome to The Property Investor Playbook, your ultimate guide to building wealth through property investment. Hosted by Daniel Chadrawy and Lara Osborn, this podcast offers step-by-step insights into growing your financial portfolio through real estate.
Join us as we bring you in-depth interviews with industry experts, successful investors, and everyday Australians on their journey to financial freedom. Learn from those who have successfully navigated the path to prosperity and gain invaluable tips to kickstart your own investment journey.
Tune in to discover the strategies, tips, and secrets to creating long-term wealth through property investments, only on The Property Investor Playbook.
Subscribe now and start your journey to financial freedom today!
The Property Investor Playbook
Unlocking AI's Potential In Real Estate With The Property Hit Man - A Smart Investment Guide - The Property Investor Playbook
Ever wondered how AI could revolutionise your property investment strategy? Join us as we sit down with Dax Stanley, the "Property Hit Man" and bestselling author, to unlock the secrets of combining artificial intelligence with real estate. Dax shares his inspiring journey from building a formidable property portfolio to guiding others toward financial freedom. With a humorous twist, he recounts a memorable story from his 21st birthday, promising both laughs and valuable insights.
In our conversation, Dax emphasises the necessity of having a clear investment plan and end goals to accelerate your path to financial independence. Drawing from personal experiences, he highlights the importance of strategic positioning and preparation, especially for first-time investors. We dive into the challenges and advantages of navigating the property market, stressing the role of expert guidance and long-term market engagement.
Looking to the future, we analyse market trends and opportunities from past events like the Sydney Olympics and the upcoming Brisbane Olympics. We stress the importance of making data-driven decisions and avoiding speculative investments. Plus, we share our plans for a potential podcast from Bali, exploring the region’s unique property market with Dax’s expertise. Get ready for an episode filled with knowledge, humour, and actionable tips for your real estate journey!
Welcome to the Property Investor Playbook. I'm Lara.
Speaker 2:And I'm Daniel. We're going to show you step-by-step how you can grow your wealth. Hey, daniel, miss Lara, we're back, we're back, we're back. I have a funny guest. He's my favorite actually, daxie Boy. He's on. Yeah, so Dax is a number one bestseller on Amazon real estate investing using ChatGPT. So so he's number one in four countries, number three in Australia at the moment. Yeah, only 99 cents. Get a lot of value from that book. I need to read that.
Speaker 1:I think Yep.
Speaker 2:He's one of our Liberty Brand Partners.
Speaker 1:Yes, don't forget, he's also our in-house property AI expert. Yes, yes, he loves his AI.
Speaker 2:I can't believe AI existed before we were born.
Speaker 1:So something that is interesting. I can't believe that story that he told about the ambulance needing to use the computer the size of this room. I will stop there.
Speaker 2:I will let him tell but no, look, I guess he's got some good stories. He's had some experience in this industry. Yeah, I guess everyone who's looking at getting into property investing but also seizing investors tune in for this one. This will be be an interesting podcast.
Speaker 1:Yeah, definitely, I think Dax is. You know he's tried and tested the market. He's built his own property portfolio. He's semi-retired himself. He's known as the property hit man, the property hit man. I actually love that term, where you know he obviously doesn't kill anyone. He's retiring people through investing in property. So it's a it's a really good concept and I love it. I think he said he's up to number seven or eight seven or eight.
Speaker 1:Yeah, he's about to retire somebody else after they purchase one more property, um, and yeah, I think he's much the same he's got. Oh, he wants to purchase one more and he's somewhat retiring, but we need to hold on to him a bit longer.
Speaker 2:Let's get into it.
Speaker 1:All right, let's go.
Speaker 2:Miss Lara.
Speaker 1:Daniel.
Speaker 2:How are you?
Speaker 1:I'm good. How are you? Always good, always good. How are you going, dax?
Speaker 3:Good Thanks for having me. It's great to be in the office.
Speaker 1:It is Nice to have you in. We've had a few video calls I and whatnot, but nice to have you here.
Speaker 3:Yeah, it's good to see the team and everything you know. It's good face-to-face but, you know, connect that with the Zooms, it really works well.
Speaker 1:Yeah, definitely.
Speaker 2:It's quite a funky area.
Speaker 3:Eh, I love it yeah.
Speaker 2:Like when I was walking around, like just the co-working spaces and all that, like there's these big Arnott's factory stuff that they kept on and there's a big digital board analogue board, digital board. I'm sitting there pressing the buttons. I'm like what does this button do? What does this button do?
Speaker 3:it's just amazing, like how they used to operate back in the olden days well, yeah, I saw this 23 years ago because I just bought down the road at Parramatta Road, burwood, my first off the plan property, and this was derelict, you know.
Speaker 1:And now it's re-gentrified and it's booming yeah, yeah, it would have just been an industrial area back then, probably.
Speaker 2:Yeah, yeah, not much here I could not imagine this being industrial area. Yeah, like I could not imagine that whatsoever.
Speaker 1:But it's good, it's good we like to complain that there's not enough food options. I can't imagine there was any food options. Zero, zero, I.
Speaker 3:I well look where I look where I was Burwood Road, parramatta Road. You just walk into Burwood and there's some great options, but out here it was a wasteland, definitely.
Speaker 2:Nothing's changed. Nothing's changed. Yeah, yeah, all right, let's go.
Speaker 1:All right, I think let's start with our normal first five.
Speaker 2:We'll see how you go. Me get my my unkick stopwatch okay there's a crossfit one.
Speaker 3:Is that what you?
Speaker 2:saw those biceps before are we ready?
Speaker 1:all right, what's your name and age? Dax and I'm 50 how many properties do you own?
Speaker 3:seven. Now I'm just about to get another one.
Speaker 1:Nice, what's your biggest property regret?
Speaker 3:Selling.
Speaker 1:Selling property.
Speaker 3:Yes.
Speaker 1:What's one thing about you that you've never told anyone?
Speaker 3:Well, if I told, if I tell you, then it wouldn't come, it wouldn't fit that criteria. So I'm not going to tell you anything, sorry what's your most embarrassing moment? Oh, that's that. Oh, okay, embarrassing moment oh there's a lot. Uh, probably getting really stupidly drunk on my 21st and swearing at a lot of people in my speech, which upset a lot of people, so it was super embarrassing that I had to go around and apologize a couple of days later but you know, as the, 21st, you know many years ago many, many years ago.
Speaker 1:They've forgiven me by now, I hope if you haven't, please forgive me, how'd we go 46, not too bad, not too bad definitely that fourth question about not telling anybody.
Speaker 3:Something stumps everybody, and everyone's like either I don't have something or the same I don't want to tell you yeah, yeah, I guess I mean there's a whole area that I did counterterrorism for the 2000 olympics. That I really can't tell you anyway, or I'd have to kill you yeah, so, um, that's something um we spoke about in the intro.
Speaker 2:You're the best seller on Amazon for your AI property book correct yes. So um, I was just going for it now Just tell me a bit about it. Like what made you. First of all, do it. And it's just interesting because there's nothing out there like it. So what made you write it, what's the inspiration come from and what have you, I guess, feedback from it so far?
Speaker 3:Yeah, daniel, it's been a great journey. I mean, I did a dual degree in engineering and science at Melbourne and touched on AI back then. There was AI back then, ai in 92 to 97 at the uni there Okay. And it was very primitive. You had to have a computer about twice the size of this room and we did trials with the ambulance.
Speaker 3:You know how you got your gps on your phones yeah so you needed a computer the size, two sizes of this room to run that, and so they had all the maps of victoria in there or melbourne, and the ambulance, triple zero, would ring up, give the address. We'd have to go in and plug that address in, as the ambulance left the hospital and it'd go churn through for a little bit and then it'd print out turn left, turn right, turn left right, and we'd run over to this fax machine and plug it into the fax machine and the I don't know if you remember the big brick phones that were in cars yeah we hooked one of those up to a fax machine in the ambulance yeah we'd feed that in and it comes.
Speaker 1:As they were driving, they'd get this printout that told them how to get there the fastest wow um, yes, that was my first, I'm used to, like you know, when I was growing up I had the old you know directory where you'd look at the map. But I guess you can't do that in an ambulance. You're like trying to get to your location as quick as possible. Wow, that's crazy.
Speaker 3:First, and then right through my career you know defense, uh contractor, um, and you know a lot of a lot of tech, uh, nbn and things like that I worked for um. We touched in ai throughout and then it was until you know I started my property journey and with the team um, chat gbt came out almost two years ago November will be two years ago and I went, wow, let's play with this. I had Christmas, new Year's off and I like doing little projects at that time and I thought I'll deep dive into that and see how we could use it in property. Now the worst thing is that lies, cheats, guesses, all this sort of stuff. You may you know people out there probably played with it. So it's's better inputs, better outputs, okay, and so if you learn, I learned that and I found over that time it's worth implementing with the team.
Speaker 3:So, email correspondence, customer service, all that sort of stuff, and also a bit of analysis with properties. It really helped. So over those six months of implementing with the team, we had amazing results and I thought the world needs to know about this. So I started writing the book and, of course, chat helped me write the book. Yeah, but you need the frameworks and the inputs to put in to make it a great book.
Speaker 3:You've got to have the right prompts, the right prompts and you're going to feed it the right information. So I fed it all our methodologies of you know how to build wealth through property and house and land and all these different strategies and how I built my wealth plugged that all in and how to build an Amazon number one bestseller. You've got to plug all that in and then you work through it and you know it comes out with a rough draft and I then took that and changed it and turned it into myself my own thing and we released it in november last year. Um, so it was a 12 month anniversary of chat, so I thought that was appropriate and it just boomed in four countries wow yeah, for like four months it stayed at number one and I think it's now three in australia still now.
Speaker 1:So you know, I think I'm gonna have to read it. I haven't read it yet. Yeah, grab it.
Speaker 3:I've left it at 99 cents because I think that people you know who are passionate about property want to have that as their wealth goal at the end and hand off their to their kids. It's got the whole methodology of how to you know, do your analysis of where you're at, what strategies strategies work for you, what's long-term, how to research properties, how to even negotiate. There's some prompts in there how to negotiate with real estate agents, so you can do like role-playing with chat and say hey, chat, you're the real estate agent, I'm the buyer. Please role-play with me and give me the best solutions to negotiate the best price for me wow, that's good, that's pretty good that would also work, I guess, in like sales training and things like that for real estate agents.
Speaker 1:You're going somewhere. Maybe that's book number two.
Speaker 3:Maybe I like that, I like that I think that book number two we're working on at the moment with my son who's in year 10. And we're using that to be his tutor. So you know we're using him as like multi-choices and how he learns the best, and so we're doing a whole lot of prompts for him and he's gone from a C grade student up to an A grade over the last year using chat with me.
Speaker 3:To help him learn in different ways yes, the right way for him and encouraging, and you know not like yeah so it's working really well all right, dax, you got a few properties, or?
Speaker 1:more than a few. Um, you said seven.
Speaker 2:Yes, you're you're semi-retired in bali. So far, you're living your best life.
Speaker 3:Yes, so, yes, I moved from sydney, where I couldn't semi-retire, to Bali at the moment, which is, you know, my rental properties are funding a lot of my lifestyle. Yeah.
Speaker 2:Okay, so myself, I love to be a student of whatever I'm trying to achieve, so you always got to be a student of the game. I'm sure you've done your tenure as a student. Now you're in that teaching phase and I love hearing your stories. One thing that I would love to get off you your first property. So you bought down the road and you regret selling. So now even myself I've got a few properties but I'm trying to work out. Should I sell? Should I hold? Should I wait? What should I do next?
Speaker 1:So myself.
Speaker 2:I think I know what I want to do, but at the end of the day and you'll be a better judge than anyone else what is holding the best game here? Is it selling, trying to get more properties? What would you do? What would you advise the people who are? Let's start with the seasoned investors first. They got three, four properties. They want to get to five, six what's your kind of takeaway there.
Speaker 2:How would you advise me? Say so? People like myself that you can get more. Should we hold? Should be. So what do you recommend?
Speaker 3:look, you know there's a lot of variables there, you know, and I always like to go back to basics and say what's the end in mind? You know Stephen Covey's seven habits. What do you want to achieve? Yeah, what does that look like, and when? Okay, that's our baseline. We need to know where you want to get to. How long, how much per week do you want to live off? And what does that look like? What's your lifestyle? Lifestyle You're traveling the world. Are you living in Bali? You know what are you doing? So you know, having that map, that in North Star, where you're trying to achieve. That's the first thing. And then the second thing is where are you now?
Speaker 3:Now, yes, you've got a number of properties. How are they performing? How have they performed? Which markets? You know there's 15,000, over 15,000 suburbs in Australia. Some are booming, some are crashing, some are flat. Yeah, even in those suburbs, as we all know, the wrong side of the street is never going to make your money where the right side of the street, with a view and everything is going to.
Speaker 3:So, analyzing that to depth, not just the now, but in the past, and then trying to predict the future, because if we can start making some clear decisions on how they've performed. You know you may have five properties and you look at it and say two have done amazingly and three haven't. Now are they in a flat market that's just about to boom or are they just in a flat market? We need to decide out those and have a look at the portfolio almost like a shared portfolio. I look at it and then look at the portfolio almost like a shared portfolio. I look at it and then look at the markets going forward and going well.
Speaker 3:Which ones do we think are booming? Where's the government putting money into All that sort of stuff to make a clear decision on hold sell or buy another one and where should we buy it? And you know the stuff that we're buying at the moment for our clients. In the last three, four years you know we've seen them coming back almost every year with the equity growth and the great cash that they're able to buy three or four very quickly and then sit on those for quite some time. Yeah, so I hope that helped you answer the question. It does.
Speaker 2:It does like I guess you said it right, if you don't have a plan, you're kind of working towards nothing and I think I think we use this in every part of our lives to be honest, yeah, at school, career, sports, personal, whatever it may be. If you don't have a plan or you don't know what you're working towards, what are you truly doing? You're just, I guess, doing nothing wouldn't you say You're not going anywhere, you're just going sideways.
Speaker 2:So you said it right. So again, personally, I want to retire at a certain age. It might be 10 years away. I don't want to work as hard. I saw my parents go through it. They're still working as of today. They doing what they feel like is the right thing, and I know that the Asian are where they're. It's getting harder and harder day by day. So if I can help educate my clients on that, I'm going to. I'm going to go do that and I guess you love retiring people.
Speaker 2:You how many people, would you say so far?
Speaker 3:I was. I was coined the hit man, the property hit man, the property hit man. I've retired a few people. One's in regional Victoria, one's moved to Japan with his wife and kids and living off the cash flow. And I've just got one more client. We're just buying one more asset for him and he should be out as well, and that's a beautiful feeling to see people do that. I'm on my way as well, which is a great journey for me to follow with them as well. And you know, like you said, having a goal in mind, I find all my clients pretty much all my clients that have that goal and are very clear on the trips they're going to take, the boat they're going to buy, the car they're going to drive, the house they're going to live in at that time frame and the cash they're going to live off, it actually happens faster. It's amazing, it's amazing. So you know that's one thing. If you want to take one thing away is solidify that end game very clear in your mind, do you?
Speaker 1:think it happens faster because they really map out, I guess, how much cash they will need to do whatever it is they're set out to do, and then you can work towards that rather than just buying property, hoping it does the thing, and oh, I might be able to go on a trip.
Speaker 3:Yeah, and it's like a I agree with you, and it's almost like being able to compare an asset and go. Does that fit in with my goal? Is that going to produce what I need? Nope, Okay, get rid of it. Yeah, does this asset do it. Oh yes, great bang, let's just buy it. Decisions happen very quickly that way yeah if you have no end goal, it's like, well, is this asset going to achieve what?
Speaker 2:yeah, yeah so I'm saying and you're saying it as well um, a lot more first-time investors are hitting the market now. They want to invest. Um, some of them take four or five months to make a decision and it's the same decision that we told them in the first time we met them. So, like it's just crazy, they go through their own little journey on the outside world and sometimes people need that to understand that we are giving the right advice. Property is the safest escalator in the world. Sorry, it's just a no-brainer. What would you tell those young individuals who are first time investing, want to get their foot into the property market in Australia? What would you kind of recommend? What would you say to them?
Speaker 3:Well, I'm a living example Bought my property 23 years ago. It was $320,000, 50 square meters. I had a 75 square balcony. That was one little benefit, one of the things if you're looking to buy, you always want something a little bit unique, different to stand down the market. That was the unique thing that I saw in there. I fluked it, um, but you know, having an expert around to help guide you in that space, I could have achieved a lot more wealth. I might be retired by now if I'd taken on an expert right at the start. Um, so I just explain about my experience yeah.
Speaker 3:And the benefits of staying in the market for as long as you can. Because if you take on three, four property growth cycles, you know you're actually benefiting so much more. Because you hear and people that delay, they've always heard horror stories. Yeah, sydney market, melbourne market's always been where it has this significant growth very quickly. Because you hear and people that delay, they've always heard horror stories yeah, sydney market, melbourne market's always been where it has this significant growth very quickly. And then it's flat for such a long time and people will get stories from their parents or cousins or whatever like that that say, oh, I bought the property and it was at the top of the market and then it didn't do anything for eight years and I thought i'd'd sell it and then the next year the property market boomed. Yeah, but I've been in the market for 23 years. I've had four cycles across different you go, different states and they're all cycling at different times, so you can have a boom every couple of years.
Speaker 3:Yeah, it's great yeah right, yeah, but if I hadn't got that experience and that knowledge, then I might have just put everything in victoria or sydney and, you know, be stagnant for eight years.
Speaker 2:Just on that. It should remind me like I love my quotes these days. Um, you said you fluked it, but I, I believe, I strongly believe in this. People say you're lucky or luck. You're lucky that this happened to you. I, I strongly believe that you put you, you put yourself in a position to be lucky and luck favors the prepared. So if you are prepared and you do make that plan, you speak to that expert and a boom does happen and they call you lucky. Yeah, luck will favor that person. But they put themselves in that position to be lucky.
Speaker 1:You took that jump and took the risk.
Speaker 2:If you sit there and do nothing. Of course, luck's not going to favor you because you're not doing anything. You're waiting for Google or TikTok to tell you something. So that just reminded me of something. So anyone who's watching, just be prepared. Luck will favour you if you put yourself in that position to be lucky. One of the best quotes.
Speaker 3:I live by it every day and you learn from it. If you just get into the market, like my house and land package, I got to learn the process. I actually went to the exchange so I got my keys and all that sort of stuff. I saw the laws and how it worked and then I became strata chairman of the strata because I wanted to know how it works and over those four years that I was in there it was beautiful I learned everything about it, you immersed yourself in it.
Speaker 3:Yeah, then I got a townhouse straight away Old decrepit thing that I could actually build up and then bounce into another house and land. And so over three properties between 2002 and the GFC grew significantly and I made a lot of money.
Speaker 1:Yeah, that's good.
Speaker 3:And learned a lot.
Speaker 1:Yeah, you mentioned the GFC. What's your thoughts on, I guess, property growth and what happened during that period of time? And you know, everybody predicted that it would happen again around covert the same thing what's your experience? You've been in the market for both of those.
Speaker 3:Yes, yes covert was interesting. Um, I was on sky news twice during covert one tell in melbourne telling the prime minister that he should allow us to have open houses so we could sell, buy and sell properties yeah, um, because the market was booming.
Speaker 3:We had vacancy issues, people on the street and, like you know, all that sort of stuff, yeah. And the second one was I'm predicting that the market's booming because new york and new zealand had clamped down before us and they were booming at the time. And I'm like, watch this space, everyone was doom and gloom and I'm like, no, this is going to boom. And look what we did.
Speaker 1:Yeah.
Speaker 3:Yeah. So looking back on 2002 to 2008, I didn't know, but I was learning it. That's where I started. My thing was the Olympics was super significant.
Speaker 2:Yeah.
Speaker 3:So the Olympic was 2000. So I didn't know but the the lead up, the 10 years up to sydney olympics, the sydney market grew massively and I I jumped in at 2002, which everyone was on top of the market, you know all this sort of stuff. It grew another six years, yeah, so eight years after the olympics. So they had an 18 year run until the gfc hit. Yeah, and it was for me.
Speaker 1:But if I'd started 10 years before, like we are now in Brisbane, yeah, I was just about to say we were talking about Brisbane a couple of weeks ago and like now's the time to start looking at Brisbane. If not, you should have started a few years ago.
Speaker 3:Oh, yeah, yeah, as soon as the announcement came out, and look, you have to be careful as well, because when the Commonwealth Games was announced in Melbourne, you know I had a lot of people going to Geelong and Ballarat, bendigo, shepparton, that's where they were going to do a regional Commonwealth Games. And all these people, oh, I'm going to buy, buy, buy. And it wasn't locked in.
Speaker 1:Yeah.
Speaker 3:Yeah, and they were like like we think we're gonna get it. Um, so all these people, those suburbs and areas boomed and people bought in and now they crashed because we didn't get the Commonwealth Games. So you have to. Really, for Brisbane, you have to wait. Yes, it was awarded, but where are the stadiums? Where are they going? You gotta be smart about where. And the infrastructure and government spending a lot of money. All the trades are going there, everyone's moving up there. Um, you know, if you, if you've got the data, you've got the expertise, there's some really good wins between now up to the olympics and even after yeah, and you'll see the movement as well.
Speaker 1:Like you said, with the commonwealth games, there probably wasn't any of that infrastructure happening yet or like any planning going into it. It was just it might be coming.
Speaker 2:Didn't the Premier say that he didn't want to put any additional funding to boost for the Commonwealth Games? They wanted to make the Rio de Janeiro's last new stadium refurb and I think they pulled out of the funding and I guess that was kind of the case of it, like yep no more the trickle-on effect yeah.
Speaker 3:Yeah, you've got to be super careful. Same with the fast train to Tullamarine and the one out to Toowoomba. You know all these news things. Some people are trying to jump before we tried and true, tested investments. You know there's ways of going about it using all the data. We pay thousands and thousands of dollars for that data and access to make sure that they're the right decisions for our clients yeah yeah, and just trying to guess what the market says.
Speaker 3:You know you watch the news. The news is saying you know the property market's booming and you know we're already in the next suburbs, past what they're saying. It's booming. Yeah, yeah, the ripple effect and things like that.
Speaker 2:So a lot of techniques to. I want to buy more properties, definitely yes yeah, we are bring it on definitely, um, what would be, I guess, your advice?
Speaker 1:you talked about some advice for getting into the market. But for experienced investors, what would be your one piece of advice that are maybe at the the back end of their career, kind of thinking, well, I want to be retired, I want to be maybe like you in Bali, you know, living life semi-retired. Whatever it might be, what would your advice be to them?
Speaker 3:Oh, there's a lot, but I think having the mindset that your property portfolio is your next job, it's your side hustle right now, if that's, you know, if you've got your real job and you've got your property portfolio and you're managing it on weekends or every quarter, stuff like that it'll end up being your real job after your old job, yeah, and then it'll be your opportunity to teach your kids that they need to look after this portfolio as well. So charity starts at the home. Start teaching your kids this stuff, making sure they understand that if anything happens to you, they get all of this and make sure you tie it up legally that they can't sell it all. But I think that's the main thing is really focus that this asset building is your next almost career. I don't know. It would be good to have a sort of name to it, I think.
Speaker 3:It's like it's a side hustle right now, and when you go to retirement, that's all you're going to be doing is like managing your properties.
Speaker 1:It's your career, where you don't have to do anything other than manage the property. Yeah, yeah.
Speaker 2:I told my clients this and it just came out of nowhere. I told my clients that think of your properties as your employees.
Speaker 2:This is your business your properties are going to end up making you money. They're going to end up helping you retire. They're going to give you income and wealth and everything you need. So if you just if a side hustle a side hustle, you want to manage it, your properties are your side hustle for now, but in the future, when you want to go on that big hole, that you want to buy a big house, you want to buy a new car, you want to do that stuff and you're in that retirement phase, you can just put our equities up in your bank account, go to the bank, go, go, do what you want from there. So if you treat it as if it's your business, I think that's the right mindset to have. I feel like because, that's keeps me going.
Speaker 2:I'm like, yeah, my properties are my little employees, make sure they're doing good. And again, because I'm paying them as well, like not everything's positive cash flow, so I'm still paying for them to be happy, safe, and then over time we're just going to hope that history repeats itself. And every year I get that growth and so far I haven't had any negative growth yet.
Speaker 1:I like that analogy, though, that they're your employees in your business. Because, they do cost you money. Some will earn you more money back than what they take.
Speaker 3:Some get back some don't. Some you've got to keep, just for you know that steady get by period and others, they'll skyrocket your growth, yeah, and I think sort of that whole foundational piece is having a number of house and lands to start with is really good to have a basis and then play with other stuff. You know you have a lot of. You know you want to build a secure framework to start with.
Speaker 1:Yeah.
Speaker 3:And that you see clients that do that and you see their nervous system drop. They're calmer, they've got their future aligned. They know what they're doing. Yeah, you know. They've talked to an expert, mapped out the next 20 years. They've got a couple of properties. They see it working and they just go I've got this, you know do my day job and look after my properties and get good tenants, yeah, and in the end it's going to all work out. So I love seeing that yeah, that's good.
Speaker 1:Do you have any client stories that you could share with us, whether it's from your, you know, property hitman phase or or anything else? Any other clients that stand out?
Speaker 3:look, one of the I retired. I can't talk too much about him, but we bought what five years ago? Burp and Gary, what was it? 400, 420. Now it's 800. We bought two straight away. Next year. We pulled out some money, bought another, then we bought another, so he's got four in that sort of immediate area. Um, then we went south to logan, bought another one down there, then we bought.
Speaker 3:Then he got adventuresome so he had enough portfolio house and land that he was like, okay, I'm set, I'm done, okay. So we moved him out of a beautiful suburb in Melbourne to a farm and sold his house so he could support that, pay down the farm and his kids are out there and he got a boat and all that sort of stuff. And then he's like, okay, I want a bit of risky, a bit more risk. And he bought six units in one block and that was positive cash flow. But you need a lot of cash to pull out of his other assets in Brisbane. To go and do that didn't cost him anything. He just took equity out of his six properties in Brisbane, which is brilliant. Yeah, to be able to bounce into that. And then that left him with two grand a week.
Speaker 2:That's pretty good he's got. He's got the capital growth of the homeland and the actual land that's always on a grove, yeah, the positive cash flow of the apartments.
Speaker 3:Yeah, it's perfect and he's got the whole property and what we did was it's on a big block of land, so we're looking at actually putting another six units out the back. If he wants to. He doesn't have to.
Speaker 2:How long was his journey? If you know what I'm asking he, if he wants to he doesn't have to.
Speaker 3:How long was his journey? If you don't mind me asking His home? And he had a one-bedroom unit. He paid off his home, so he wasn't experienced, but he had a good equity base on his home. So we were able to leverage that.
Speaker 2:But yeah, five years, Five years all started from that.
Speaker 3:So five years from when he started investing outside his family home yes, his whole goal was just to pay off the family home, and he had one investment unit and so from there we were able to use all that equity to buy his portfolios. So now he can live off his portfolio. Could you just?
Speaker 2:imagine all our clients who are in their 40s to 50s who are sitting on their family home. There's equity there. You can use that for the next five-year plan. Make it 10 years and be safer. In the next 10 years you can potentially 10x your capital growth. Make some money then. Just live easy. It's a much easier lifestyle. You don't have to worry about the pension, worry about how you make money when you retire, worry about all these things are coming after, after you finish your career.
Speaker 1:You just yeah, there would be so many people out there and a lot of our clients that have been coming to us. You know they had that typical australian dream, I guess, of exactly that, or just pay off your family home yeah, like because then I'll be comfortable, you know I won't have a mortgage, I won't have to worry, I'll be fine. But yeah, they're not really thinking until they get to that 40, 50, sometimes older than 50 age and they're like hang on, but I'll have no income yeah, yeah how do I?
Speaker 1:live. Yes, I won't have a mortgage, but I still have to buy food. I still, you know, want to go on trips or go overseas or whatever.
Speaker 2:And there's one thing that's come to me a lot more and Dax, you can chime in here People our age, I would say, and you told me if I'm wrong they're all saying that they want the nice fancy car now, they want the nice waterfront property now, they want to live on the beach now, not tomorrow, now. So the hardest thing that I'm seeing right now is telling people like us that I think won't you first have the um stable income, stable home environment, stable living, stable career, just try to be semi-stable and then, from that, make your stepping stones nice, go from okay, let's buy one property, let's go two, let's go maybe three to four straight away. I have those stepping stones and there's like a plan again no plan, you go nowhere.
Speaker 2:Um then eventually you'll get to that nice, fancy car waterfront living. And I guess that's why people get upset when we're talking to them. They're like, why can't I have the audi now? Why can't I have the waterfront property now? I'm like, if you want now, you have to plan five years ago. So that's the hardest thing. I feel like people our age they want it all now.
Speaker 1:You just need to plan and that's again to put yourself in a good spot for the future.
Speaker 3:Yeah, I mean, look, I'm on the other side. I'm a lot older than you guys and I. A lot of my clients are coming up to my age and a lot of them feel that they're too late.
Speaker 1:Yes.
Speaker 3:Yeah, I can't do anything. I'm 40. Like I've got no property, like zero property, they're just renting. I can't do it and give up. And these days I know I'm going to live to 100, if not 180, which is my goal. Yeah, easy, yeah. But look, even at 40, you've got 30 years of work. You can work for 30 years. I can build you a massive portfolio over 30 years.
Speaker 3:So the message there is if you don't have property and you haven't saved and you've blown it up with the Audi and the waterfront rental and all that sort of stuff and lived that life, and you get to 40 and go, oh my God, I've failed, I'm over and it's done. No, don't look at society. Society is trying all these social medias and saying that, yeah, you're done, you've got 30 years yeah so like don't give up, you've got, we've got plans that are 20 years.
Speaker 3:You know, if you need that 30 you can do it yeah so you know, just talk to us professional experts that can help you get on the right path straight away.
Speaker 1:And even the people that do have a bit of equity in their own home, I guess probably wouldn't need that full 30 years to achieve the same thing.
Speaker 2:So just because they've only got one doesn't mean they're off the cards yeah, the more knowledge you get, the more power you can have in your own life.
Speaker 3:Definitely yeah, and that's where you dip your toe in to have a bit of a go and learn it and go. Oh okay, this side hustle's cool. Wow, it's gonna earn me a lot of money and I can sit back and make money while I'm asleep yeah, definitely alright.
Speaker 1:Well, I think it's been great to have you on Dax.
Speaker 3:Yeah, thanks for coming in. Thank you, dax, you're welcome. It's great to catch up always, yeah.
Speaker 1:Hopefully we'll be in Bali next time.
Speaker 3:I'm invited. Let's do the Bali one. Shall, we do it, we'll do it yes. Okay, we'll do a podcast from Bali.
Speaker 1:I.
Speaker 3:Actually we can do a barley property investment scenario because I've been doing a lot of research while I'm there. Very different market, very high risk. There's a lot of different things compared to Australia. So if anyone's thinking about getting into it, definitely reach out to me, because it's a minefield and you don't want to go in without massive amount of research. Just that's a key one.
Speaker 2:Let's explore it.
Speaker 1:Yeah, sounds good, all right.
Speaker 2:Thanks guys.
Speaker 1:Thank you.
