Ep. 236 | Revealed: Why Off The Plan Properties Almost Derailed a Property Portfolio - Chat with Danson Kwok
Welcome to the property couch where each week you get to listen to two of Australia's leading experts bryce humble way co host of location location location Australia on Fox tells lifestyle channel and escape from the city on the A._B._C. and Ben Kingsley Leap Cherif Property Investors Council of Stralia and the founder of the two thousand eighteen company investment advisory firm of the year or if you're the cancer each week been and on bringing the end someone's GonNa probably finance and money management. Hello Ben Thank you very good. Thanks look we've got a very special guest today. been we do <hes> really good content so we'll get to that shortly but before we do <hes> we'll go through the <hes> sports. Wrap the sports wrap so on which coach up you want to do you got a couple or strike we should we should just wrap up. We didn't mention anything about the state of origin so sky him in the series. Let's be really clear to add New South Wales and Queensland folks we watched it. We did together the other actually we did and we all I was in organizational state that we had pre paid for that particular podcast on the Wednesday to give away a magic uh-huh. I've been trying to get you to do that for two hundred. So therefore we're not able to reflect didn't reflect the die after which we should have because we're remiss of our of our big audiences in you said Lyles and I'm from Perth and I moved to Queensland Melbourne and move to coins lie we will Marines Illinois and you say we'll we'll back for the same same but <hes> I thought for sure that that's why we're going to get off because if you into me in the first half to score twenty draws and then allowed your company on school board so good congratulations marines ways <hes> started virgin. This is birth yeah. That's what you want. Apply it other than the state of the art stadium over the sixty thousand even God dial up Internet and good friends in Perth where Yongli telling the truth my the friends will come from. We've we've got beautiful. One strives to be from yeah wonderful place to be and also one of the place to leave. Yes just if it wants fire away so yes so goodly what makes it magical good luck to guess quickly. Golden State Warriors pulled off <hes> Gyn five if so taste so good luck Andrew I kim dressing on his Achilles Nicholas now is it's not Catholic you just kind of get wrought any Andrus had some some good guys in the middle of the series yeah did and wish him all the best and he came back so good luck for the festival and given given rain that he got it now actually living yeah and then we've obviously got the N._B._A.. How good is ash body ash by a little bit <hes> coming up for ash body in the months it mean that's second but <hes> practice makes perfect? Yes is everything about preparation. <hes> wow yeah amazing result. I'll watch two semifinal and saw her go from five nil up to basically lose the first set something allman God this is going to be a car wreck and then three love three three down in the second set to the seven year old U._S.. Go and then all of a sudden just basically get through it and you know and also Matilda's at their side of the world big weekend. It's one big weekend. I'm unfortunately didn't get the chocolate I'll watch that game as well and they're out of the death knell they're. They're out the head to take two to one up in against Italy was so come on girls Brazil next we we want to say you sean so they keep up for the Montet medical thing ash body would have been perfect that <hes> I feel much to talk about here. Your team got the chocolates on on the big phrase they gamed. I was very good or not so let's get back to the people who have now sort of skipped thirty seconds thirty six in the footsteps was swansea's won't ease with three as office six with imagine a forty four one-room mention because she's Emma barracks for one it out to build up the context of this. Emma usually isn't the forty tip lead now because I'm not sure what her method is but it's usually not who's the form say competition and of course there was a few <hes> there's a few ruffy so she how to shoot did well on the Lima which helps bring out T._p._C. content to law as just continuing to drift all was going to say nothing. That's rubbish wish you you're tipping off. We head Helen Ron into us. Recently been a listener you guys helped change the outcome of future to excavation Max just amazing. I'm an older lady who listens because my son told me to love what you teach me. I was walking reverse. I was walking along with thank you to her son. By the way for this I was walking along Colombian creek clearly on the go <hes> with my dog mark when Ben explained his discovery about the misrepresentation about negative gearing it came out in the pipe of the next week and the rest is history been I can only imagine how you feel but I'm proud of you insulin and pastas onto she's proud of you. My husband is an introverted see and last Sunday. He told me he thought ever assembled happier sending just after the election he certainly is well done with what you do so that was good feedback excellent. Thank you Helen and this is from <hes> recently. I wanted to share my journey since catching your podcast by up in dog to talk to someone about property but it's hard to find anyone interested in discussing the topic with a twenty something year old hat. Could she know <hes> anything about it when she's never even been through a full circle question mark and of connected with Bras on Instagram who encouraged me to be brave and shit which have property decision was a setback in disguise in two thousand sixteen. We bought a housing land package based on first home buyer incentives that were in line with their goals Cube Ross and been one episode at a Tom Lin we learn the difference between investment stock and investment grade became more familiar with the lending landscape and fondly channeled out discipline into managing money rather than EAT managing US early mind a little bit that our friends think went tosses. We became homeless investors in this. She added the third property to Apple Foggier. We're not sure if the conditions will make a last one I did. I get to talk about this topic with friends because the cafe lost all is cooler than property <hes> the first setback is still part of your portfolio and we are working on figuring Eh exit strategy as I speak it has been a lonely journey transitioning into becoming investors but Thursdays at three o'clock make it so much better the guests on the show have become law cow virtual lentils on Jimmy that was from. I am great feedback on at night that she could be described as some a twenty something who doesn't know anything about property because if you're still in your twenties and you've got that and getting the job and that's nice. I'm just for those people. Who Do you feel all that kind of talk? Shop pick is exactly the rot environment for them. That was one of the interesting things with the made upset I'm going to is the people don't want to talk about it in other circles but in this particular circle if you'll going along to the made up sore adjoining the Wittman is an ice thoughts things you can talk shop and that's all you talk brought so so there is a vehicle for those people who do want to <hes> to mix I._D.'s and share thoughts please if you haven't already enjoying figure on how to plug for pickup <hes> do that because that's the perfect environment to do very well said Bin and Athena. If you love talking about money management. We've got a <hes> a private facebook group that we're inviting anyone who wants to money management Mike Money Simple again office hell will we'll put some details in the shy still be link <hes> so if you WanNa talk with lock mounted thousand people in there now so it's <hes> it's going along nicely. I've got some more comments to make you just go in there on a regular basis into going to facebook accounts on on I think all of a sudden switch soican private one very small man Blah Blah Blah boring stuff wrong if he <hes> giveaway office is going super well so if you own facebook been <hes> we want to know your top money hack and I gotTa Tell Ya there's rips in fact this this some that are going to be turned into future money on this show because some terrific ideas so so what we're trying to do is to get you to try and win a copy of his book from last week's episode but also let's share money hacks because in the spirit of what the thing was talking about before let's share with other people who are doing this going to be a part of facebook community <music> on Sharp and shopping's on boss doesn't it it does it's six habits of all effective people been shopping saw so gallon just mixed with those folks as well so that competition finishes Wednesday the nineteenth of June which if you're listening to it on the first I've been that's next week if you're listening to it in back catalogue missed the boat but still share and share those money ex- on on how like money simple and having I haven't said this for the wall band but <hes> I love love hearing from our community and onset minute today from community <hes> of facebook Lawf- X. Coming from community. If you want to go to our website there's a little widget on the Sawday or you have to push record and it can be ten seconds. It can be sixty seconds and let us know we will put you on the podcast and <hes> you can be a part of what makes shy great and the learning community so they got folks and I quick public service announcement for ASP personally been weird on the hunt for a mortgage edge broker mortgage broking tame growing growing so if you live in Melbourne or Sydney or you want to live in Melbourne and Sydney and take up that Opportunity Ray chat to us info at the property catch <hes> we'll send you some details and we're also looking for a an apprentice mortgage broker by Senator Al Melvin Office so experienced broadcasts Sydney Melbourne <hes> plays in Qua and obviously if you're looking to get training through head office in Melbourne and become a mortgage broker in that is the place to apply so ticket check it affects we would love to hear from you in fact if you or someone who that would be perfect for let them nine info at the property cash dot com citizen email data's. Hey my mindset minute themes that I've been blessed is from a listener <hes> love the podcasts go is only new to it though got on board episode two hundred thirteen and slowly working my way through the rest on the commute a little tip there <hes> go to the back catalogues one one and a half speed. You'll get through them really quickly. <hes> thought I would brazenly offer a mindset minute that you might lock when the pressure is on you don't rise to the occasion you full to your highest level of preparation side again. When the pressure is on you don't rose to the occasion you full to your boss level of preparation? The message here is to prepare prepare prepare where the job interview a negotiation has inspection an auction if you're on a Q. and I- panel whatever it is when the pressure is on wing counts you will simply full will to the best level of Don credit goes to Mr Chris Voss in never split the difference negotiating is if you lost depending on Chris is a former F._B._i.. Hostage negotiator and his book is the ultimate Gods Negotiation Hala recommend for you as vice believe as you both believe in lifelong learning in fact we saw Chris Voss <hes> law. We did all the bad decide we've experienced. He's work at one of the Canaanites that <hes> that we attended and that was cool MEC <hes> well MC MC a coffin. I think McLaughlin is but thank you call. It was terrific. Yeah now. Chris Voss if you if you WANNA learn on we've got some real estate. Agency listen to US been <hes> if you're not familiar with Chris Voss Gown Youtube him his negotiation tactics are amazing but actual real estate that I just dealing with we prefer not to negotiate on on another bit of Tyco I from a recent trip up to our goals. I was <hes> align that are from Todd Duncan which was around mound professionals practice more than they apply and who now if you think about that one that's so true is ash body did yep practice more than I apply so a fully pies practice more tennis plot practice smolt nightlife so getting to things like negotiation things like that. If you practice you become bitter at it and the worst place to practices alive deal because it's all about preparation which is you know that point and if you do the training and you do the preparation you've done the would you do the practice that when it gets better on I'm saying it's my boys in the mine who applying keyboards and drums. You can't just get on there and think you're GonNa be amazing you not practice and. And even the professional practice more than I go out and present in front of that side practice practice practice might perfect practice makes perfect. That's it so when you think about that. Ash Body alluded to it before did YEP <hes> but when the pressure is on you don't Ross wants to the cash and you fall to your highest level the preparation <hes> that's sports alive of Ashby when the pressure was on because it's that sport more than they have. I is all about what's going on upstairs. There's no tell you might possibly be able to <hes> not even let tight cancel missile from coach Ben you in dire late athletes but you know a guy practice more than actually ply and that shows up in in the big performances so that was terrific terrific. We love it. Folks keep sending them in when the pressure is on you don't Ross to the cash and you forty hostile depression or tonight in this very special guests we <hes> we interviewed <hes> recently. I very impressive young man well then. I'm dancing quoc yup in fact he's birthday today happy birthday dancing but his story was remarkable. Dancing reached out to me. I look this is the portfolio that built and to be honest. We're all about protecting in our community at all expen- We make sure that people come on with that and agenda <hes> and so I rang dance I sedan Shaw. You've built a very successful property portfolio but what why have you reached out to me. Why do you WanNa come Moan and he goes? We'll look on a real agent and I went there. It is <hes> roots any guys. I'm not looking for any business I just I'm really proud of water built and where have come from and I thought and I spent <hes> <hes> Maybe fifteen twenty minutes having a conversation with him at the end of that conversation. I felt comfortable that I'm sure he's hoping that the people in Brisbane who use him as a real excited but the core message was self off might build a substantial property portfolio and overcame some adversity so that was a good story to share that so <hes> without any further ado. Let's have a listen to interview dancing uncork or abandon. We have a very special guest today and <hes> what am excited about is the fact that I guess today's name is dancing. Kwok has has really great back story. <hes> had a chat with him in advance. That's about to try and what's interesting is the the portfolio added that he's waffled. Build was on the back of a very told decision and I might on their first property. Let on curious now. You've got me really interested so there's the hook and that we'll get to the meat potatoes on a Patel welcome to the PORTA catch Danson. Hello Hi thanks for having me out to pledge as is suggested to ban. You've gotTa Really Gripe backstory. Mata tell don't tell us a little bit about where you from <hes> and and <hes> you know give us a bit of a late up into that <hes> that that first property that you purchased Shah signed from Singapore originally with debris spent twelve years ago and my wife and I started investing in properties in New Zealand and Australia when we were still living in Singapore and that Jenny continue after mafia in fact AH competent from a passive investor to active one yeah I can share with you the stories later. We got gotten a bus stories so so Danton. Let's so you're living in Singaple and what attracted you you to look at Australia and New Zealand as opposed to. I mean we all know Singapore real estate ease. You know very well held toddling held. They've gone through challenges of affordable housing either today or in regards to you united a lot of our government housing that you can buy and that's how they have tackled affordability in such a small island so what led you to come to looking at the grind Australian bought and also the the Clarence h Shah well in Singapore. I saved my job. The other people only one property so because the cost of entry is so high and for government housing you can't own one you can have more than one. You're right in the end. The government has put in so much mesh us that you can only own one property maximum to get hotter when you own more than one or two properties finance yeah so like any property investment we started when he could build a quality investment <unk> follow like what you mentioned in your podcast the own five or six investment wait properties so that's always our investment goal and so so do have the income to one day replace our wages so that we could retire early right sedan. You'll <hes> you've given me a little not a whole lot. Package on on the portfolio in the first one was in New Zealand. Tell us that that wasn't your first purchase. I was the a think from a discussion that was there was one prior to that that <hes> the didn't didn't go so well. That's modern Mona Wanda Bingo so well so yeah so the <unk> Memphis property is across the our first house in a condominium in Singapore but for investment we bought a number of off the plan properties when we were still living Singapore so <hes> I can I count it seven excluding the one that they believe in so they are. I was with a coma most of rubbish though not not very proud of them. <hes> quickly run through there will one townhouses of the plan in Auckland was worthless one below by a block of land in a rich in Caribbean somewhere in Queens Queensland one up near to a Bo desert. I was told some in Asia we love Len. Don't that's one eight creek for eighty two thousand dollars so we pay cash boy and then we who off the claim studio in Auckland Twenty Five Square meter shoe boxes so I know and big oh I surprised when we when we did an inspection eventually after it was built so there was also an of so we bought a one bedroom apartment in Saint Qaeda and pay top dollar foy so of all the properties that we own before we moved here. We only kept to Coutau this in ogling that we still holding then we ended a <unk> room at the value escrow spout estimate that you also dancing on curious as to you know you living in Singapore that you go to these exposed onto remaining terms of had a days Iran is your and obviously all around the world Australian properties well promoted in you know it's a very siphon and aspirational country to on property so so what was some of the the silos tactics that they used to sorta being toss you you too to buy these types of properties museum mistrial Christie so I think I think you use attempts Rookus in your podcast so also understand ten fifteen years ago. The Internet is not so what used by the US so be such. A area of the product is not so readily available so yeah the obvious they would advertise what they're selling on the newspaper and so attract people go there usually is in a hotel hotel room a ballroom and they will have address spook now. Try to help you into the whole project basically so that must've cooler is the speaker and international disprove local in Singapore so they are marketing agents who will get a fete <unk> commission. We all know how much or be the six ten percent at least so it possibly have one or two representative from the marketing agent over in Australia or New Zealand flying over so do have presence day to expand a bit more of the project to you yeah so you might these purchases and then what you decided to migrate to New Zealand or Australia Australia yeah me move from Singapore to Crispin and then and then you realize you've got these properties that had did you. How did you come to the realization that you you didn't want to kick them anymore? I went. I went serving yet. They they are not there's some of them do have a what a renter grantee and again I know I know you love story yeah so <hes> to studio in Auckland Oakland so they give a seven percent net rent the grantee for two years and after the two yes that is the truth just go back to obey five percent less and we struggled to Penan because they are ah pretty much built for students and we only realize after that so and so he's not mean you understand is not what he's not the investment property that you described in the podcast so we realized that Emmy slowly slowly have to sell them some loss some <unk> even 'cause you other opportunity cost and marketing cost selling costs maybe on so we have to substantiate something else we she's actually yet manufacturer equity due to credit well plate wealth yeah exactly symbols our auto so dancing with the <hes> with a couple of the of the planes. Did you have any trouble with a bank evaluations locked one incident CODA. You said you pied topping that price point did the banks value it at the EPA purchase process or the contract process for memory that one quite close. Maybe shut off them twenty thousand which is not a five hundred thousand. A one bedroom is like this is like what twelve fifteen years taught that in years ago so we now clear the decks we got to the Sunshine State Brisbane. We're in breath in Vegas. And what learning journey do you go along. So how do you move from. Obviously you being burnt in in new stock. What's the journey go on to educate yourself to to be in the successful position tonight? When we were still living Singapore we subscribe to the Fantastic magazine A._p._i.? Wish no longer in publication. Sadly we learned a lot from there and we realized staff there are investors out there manufacturing equity <unk> of the cycle so they they added value of manufacture equity true five strategies they are one renovation two subdivision three building building on Beacon Block for obtaining development approval or the and five strike billing and these are not cash up develops they are Mondays investors for some of them are even on a single income and have dependents so finding inspiring and we keep everything on the least ago retry everything a sec ball throttling so I did for overseas climate might but not myself so yeah we everything and I'll get one question for you dance and just on the finance when you are in Singapore investing in Australia. What did that actually look like the you're using local banks or did you have to get Australia New Zealand banks or combination of when I was living Singapore so far the most purchased off the the plan I was using respect bang offshore bank in Singapore and also Anzac in Singapore so they basically the findings and coordinate financing work with another bang? Possibly the a bank in Australia so yes so we at the at the time we can get the finance in both Dur currency loan so advanced in Singapore dollars as well as Australian dollars during the Jesse in twenty or nine. One of the bank. Actually clawback was committed. I noticing analyst of the foreign exchange difference is against us so we come up with some money paid on the loan all he convert signals Austrian honest loan go up lots very painful eventually. We've got other commitments at the time maybe but quite poured in though we were forced we are forced to convict from sing dollars loan to Aussie dollar slowing results in sixty thousand more loss in on foreign exchange. Wow so painful so dancing. You've got a bachelor degree in finance and a masters degree in international marketing. You're obviously Singapore's wonderful country to one of my favorites. <hes> you know it's a grind plice. Clean Saif plice lovely very friendly people. You'll backstory now is about growing up in a middle income family where you know you would consider yourself up your data a bit of a blue call worker and the Momma Hassle and you didn't talk about money so what would drive this instinct in you'll in yourself to to one of the most successful and be financially free well the the bulk <unk> by Roman yeah so the passive income to replace the wages so that you can retire early financial freedom because it inspired us and also I. I have a when I was leaving my n._B._A.. I've got a mate. He's name is rough. E is a New Zealander but a very successful property investor though he always shared his success story in property investment to us <music> classmates but I the only one that that device and yeah but the Popular Investment Jenny and we still keep in touch I would describe him as my informer mantle. You might really really good point there in terms of we've often said when we're speaking in front of an audience of a couple of hundred people that a lot of people are going to get excited about what we hear. There's only going to be one of you are going to actually take action and you just again guy in summarized that beautifully and all of the people in the N._B._A.. Program that you're in you're the one who will actually as logic and common sense in what you're doing in our and I'm GonNa follow that whilst everyone else was looking to build their careers and and maybe have you get better income through work. You've said you want to make your money work harder for you because it's wonderful because he had persona fall what Ben says at the end of every podcast that knowledge is empowering but only if you act on it so you you've actually put that into place wrong. I think I put it rarely leap into action. Yeah Exit Peck <hes> Property Investment Journey <hes> of course the Knicks in the in the beginning pay foyt Linda mistake and get better but I think the most is you lend from it. You get better and get going on sort canine in America last year and it's changed my life because there was a guy that got up on stage and said the two key things you need to have in law is solve problems take action and what this person was. I would shave really resulted synthesized into those two things right side. I'm convinced more than ever now that and I've ally that onto you'll scenario you you had a guy challenges arose and you look for ways to solve the problem and you continued to take action Ron so <hes> props to you on that. Tell us a little bit about what <hes> the had been alluded to tell us a little bit about what the what it was like growing up in your household and might be described for our listeners. What what what look like for you growing up in the messages that you go from your parents? Well like a typical Asian. Parents reba brought out this study hot find a job. Get married start a family provide for your family. Pay Down to the house load the home loan and note owned the the bank any money as always domestic yeah. I think it's very typical of of agent family by you just keeping the race in Singapore typical you what hot you provide for the family and a great big house up you buy a smaller car. You've a bigger car. You got bigger loan home loan at Bigger House Cologne you what harder your harder to upgrade get another by another Yugoslav Sarah houses and buy another one. You'd be going so they get are so high it and he gets up high end. You've got no time to enjoy what you have achieved and by the time you realize it you you to retire being also so yeah so the thin reading respect put the get out of arrays <unk> sinking and and I just want to take action get out race terrific and obviously was a burning desire that and now let's let's circle back to what you were talking about before which his some of the strategy viewers to manufacture equity. Let's stop with one that that obviously we're comfortable in talking about with people who want to have a little bit of experience in in Equity Habit and that he's renovation Ron and there's a there's a couple of times renovations in simple real. There's cosmetic and structural so what what did you start with dancing. Did you start with cosmetic or did you guys infrastructure of the fourteen puppies that we we have now. We only have one renovation project so it's pretty much a cosmetic renovation. We quickly realized that is not what the Reynaud shows portrayed <unk> also because Bulla vast my wife and I we are lacking in imagination and also we don't have the skill sets to save on labor costs so yeah I have to admire Amaya the professional relevance so they they really gifted so for these renovations this one only renovation project every half report a rundown house in step attacks it case north of Brisbane these A._B._C.'s <unk> we bought it at three five ten years ago of the public trustee and we did a because he has good bones so we put in a new kitchen a new bathroom polish the flow boats and repaint internationally tangible <hes> we thought we did a fabulous job Dan <hes> but we have actually have to go in the game and we have to stay looks pretty ordinary for me not for us. I'm heading say that this property has even a very good renter because of the low purchase price so the rental you was six point two percent so there's a yeah so that goes <music> our last one and only renovation project and this and that that's also one now that you've got the potential to subdivide so you you're in the process of subdividing that long. That's right is a chain these property so <music> in luck in twenty forty five years ago the as the changing dispensation plan and this property is able to subdivide so hit the Jackpot and I was so now yeah now we are doing in a subdivision in fact fingers crossed each should be completed in two weeks playing planning on keeping it. Yeah we always we always built on the big the subdivide the block and both houses icon so if all of all goods according to plan we should have to knew how this <hes> escort the next year edit while portfolio so for the benefit of the looseness Danson's been caught enough to give us a spreadsheet of his fault his he's walks portfolio side and dancing on a now you WANNA remind private <hes> full you know the big picture of you'll find out which is gratin. You got through some of the details but a accountable leading the ordinance now that you you you you've created multimillions in terms of equity from from from humble beginnings and also from significant mistakes early dies so so my question to via before we sort of keep moving forwards what guy view the tenacity to kate going when you know you landed in stride realize yet dodge your cup imagine coal on exchange right went backwards. He you holding <hes> shoebox. That's that's enough to put any on forever. Inside property doesn't work. I can't imagine yeah but I I'm a very optimistic person. I keep going and it kept going and and I kept trying a yeah. I don't know never say never attitude so the band knock you back today. I come back symmetry six months later in China game or go to another broker and see if they can sokaia alone dummy. What would you say with the resources that you pulled on because you're referring it? Haunts thought you had a small on your face as you said that obviously on the other side of it but when you going through it what what we we pulling on as you in in the MRI middle rope when you're down the only way goes up right so it's easy to say but I think I have a a good a good my wife you know that we support each other to the whole journey so yes so we're on Baba income choose working <unk> agent so yeah we keep going and we knew we were new their country you to the city but we still we added everything from scratch but yeah but the quickly Linda Linda the traits end at least not Jenny your attitudes admirable so you you started with Renai. What was the next you? What did you move onto next? What was the next strategy Yeah Nick Strategy? He's subdivision which actually worked very well for us. <hes> I well I was I was subdivision. Journey actually started mushed earlier. We Beatles this was in twenty five. Just before we moved here and we we'll wait very put in so we can only afford to look at properties for the <unk> of Crispin read. No we are moving congressman so we decided to have subdivision project investment. We found a house on the corner. Block in Lexi is which is the eight case west of Brisbane to verify and we'll be renovation to it and it's not a one to two loss renovation as easy with the house is sitting in front interesting to cut the <unk> off and that was subdivision was completed tweets later after we bought it takes twenty seven and we built a new house on after it was our second house every bill in Australia MHM and dancing in terms of <hes> you know I'm always drawn to get get paling dickey volunteer numbers Strada and when you start hearing all when you subdividing so what Tam planning to Garth through all those sort of professional phase insightful what's the raisin -able rule of for people who are looking for subdivisions in Queensland and a guy a Ryan is archived but are we talking sort of fifteen to twenty five thousand dollars to get the subdivision through or is it cheaper or more expensive. I can only say for Spin City Council. Perhaps swelled so yeah between eighty two hundred thousand people s lo a a straightforward one in the two lot subdivisions yep and and just a guide for the benefit of listeners. You can't just always I just WanNa copy spit of land. You've actually got a present a property design to go onto into that line in now. You don't have to do nothing coins. I know you don't have to <unk> Dennis minimum size for the subdivided block the new block that the council would would look at so Kalpana a good company will vice you what to do so when I look at subdivision when I see something something by civil I would immediately call my Alpina of August after fourth division projects. I can do some implementary assessment quite quickly Yep so do the confirm my understanding. I will call my Alpina. That's the wrench in things for Einstein's read that you have enough frontage whether that is <hes> the house protected you don't use protected and you spend over to Las Yukon you grit Mim- Minimum Size Block of a new book you invite Right <hes> and also if if there's any protective vegetation right best so we'll have hamper your design and also may hamper your connection disabuse connection and we should point quite importantly is your he's the facing thinks he's <unk> sewer connection a connection and what the best that's that's a few things that that you have to be kept kid my when you looking at something by some property and what was the China did move to. I'm just trying to remember was at minimum three fifty or is it minimum four hundred square meters for the Brisbane City Council Yup Yup partly right Ben so that new city plan the Currency Plan of twin to depend twenty fourteen gene that enable some properties. I was I'm probably is that is minimum six hundred screaming this with a minimum fifty meters frontier which your n reding two hundred meters walking into. the biggest shopping centre because shopping center it has to be minimum of two thousand square meters and also you need to have <hes> ideally you wanna block that is that's look up with so that's the storm would the league the leaguer storm with the stormwater discharge legally to the streets and not if you went on a blog net that slope the other way round any slow backwards you have issue issue unless there's a stalled a pipe that you can connect to at the back they can discharge your stormwater otherwise then you bishop showstopper so you'll be ready for the nonce cremated in brazil that you can we saw zone is that is that a typical priok no i never owner all night screaming to block to subdivide split into two so my two subdivision region was thousand screaming that there was sweet the corner nepal just mentioned echo want the second one died this is in carina heights was a nine hundred and seven seventy i believe are screaming wlac entry doesn't fit the one thousand screaming the x. <unk> arrangement if not away something by which is the x. arrangement so you need a four hundred screaming blocking front and six hundred this including the driveway for the back lock right but a background of actual so this one was nine hundred seventy four memory info so but because next dole has already done the same thing so this students and we actually went to a quick due-diligence and we got approval ought to and while subdivision that we have the few house on the big on a as well so that was a second so she may keep the the old house in front which is a good thing because while you are subdividing and also building a new house within about twenty minutes and you're still getting income although i reduce the rent for a short period of time so that no inconvenience cost the tenants but you're still getting some income income income and so that when you're doing your subdivision is not too much because that's the absolute isn't it so we're talking about effectively you're buying a new block of land that you can build on which you can generate income full for between ninety one hundred thousand dollars so you get to put a dwelling on that wants to be sort of price point that you that you pie for that for the dwelling guys onto that back block if you're doing battle-axe subdivision on the it depends on the even the new house depends on the the area that you're building you know we have a very careful not to over or under capitalize on the on the area that we are building reading this one could fall in building tool excited because they had the can save everything on the features other gadgets into into the house and and end up is over capitalising is not gonna work phobia very we have built it houses so far reading nine now the midnight we are always of course the first couple of us we are not made prov so but yeah but but relented and sought by we always always on this turn to understand what's the area what what in the area what bias expect in the area <hes> and so he goes to mike my wife's vaguely she always look at look at a new listing some of the new houses in the area and being arrested agent that give me some some of ambitious loic and check out the prizes and how much they bought four and maybe how much wealth now in the rent <hes> yeah so that helped we'd uh our new houses so we so that we are building one <unk> completing <unk> together and over the house the intendant hugh sticks case east of baseman near the suburb off hotan amona philly a five of five big tree bath house but we know that in the area expect beaches <unk> a media room pantry and fully but the air conditioning so so we put all this in and if we were to build the same product in annalisa he may be overkill over capitalising we've gotta capable of audits it now you've got some great tom tips that we've sort of i would communicate before coming on the show i love you to share some of is around what you're a believer of <hes> what are some of those important tips but you wanna pass onto the listeners all i think that's one that i want to highlight maybe later something went to dynasty i recently aleve got a scare got close shave on business email compromise b._b._c. shots or is this this bill that we are competing in cannon hill was the was the fof progress payment for fixing stitch the bank details of the beauties was somehow change on the invoice when email to me so i didn't know visit a senator bang like the previous davis tree less payment the banks mystic payment to these accounts there was a january sixty four thousand it was a very stressful and unsettling pima for us would you do how did you recover what what what was the outcome so we may a report a police report so econ the police department they do all the artist tai-bo fraught jesus but that's not even the police officer who rang rang me and he himself today from experience he believed the money's gone by now it's that was at least two weeks after the money has been transferred the wrong accounts the accounts so anyhow <unk> so he is the best way the quickest way is to go to the bank that that the banks started out you know if you allow the police authentic such warren of their car on the account you would take ages the court and and whatnot but it also into that the bank channel off the week's ninety six not a bit maybe inches with the money was surprised the price returned to us wow very very lucky i thought houst- bullet they match to tech the funds and and retrieve the funds and we tend to our i think so how do you think of 'cause we we know that is being stories particular in western strive for people who are leaving monning communities who are flying fly out and someone has sold their house us beneath them <hes> because they are able to fraudulently document atlanta auto so how do you think that they were i thought you were the <hes> the builder on this project and to issue you with a bike invoice what was it that you think attributed to do you think that they're going to computer system all our tracking news in any sort of discovery to we can share with the listeners i got no idea i think is still theo under investigation so <hes> so but the builders always email that invoice the <unk> progress payment to me so these fraudulent invoices actually just from the same sauce basically from the same same build as email attachment is wrong so the builders by the sands savings the builder system the system's main hacked they are working on who their invoicing out and effectively issued <hes> <hes> a statement looking very similar signs so limit but just different base batting account number as evidence that same as set all the e._s._p._n. account number so this is a big tipper they had to to the listening audience tonight as always be mindful because you never think about it but how you do he sees you showed what when you when you know you go regular payments coming through your banking system you should all y size the base paint account number number of that particular supply rod because you were dan have that it's not going to try and draw its rent businesses dime often china banking prices so if it does change you go to flag rotten news it's like oh today's the record and i'm and i'm going to send it to that can't wait a minute the statements different that's when you can ring out the builder and you helping the builder will you helping the the business as well so i know we haven't changed our bank account all of a sudden debbie daikin mike is investigations investigations and say what did it systems in hack he's you know this is the sad reality of digital age that people who who are in our fraudsters can pray on on innocent victims such as yourself dance a. and so i think it's a it's a wonderful yeah i think i think the big lesson learned since that incident when i make payment you know i i always save bank details so any difference in the bank details us a ring there the there's up to verify and for any neil bank details someone that has not before i will call them or texan mcsherry verified thank details correct purdah invoice advocacy so we find me a payment so i think that's a big lesson learned in were not i'd expect that happened to me a resume ready stories about providence you're fraud and everything but scame name of what happened to me that's much set you back if he didn't get the money back was that was next but if you hadn't got the money back we resort enough to move on with that of being another major shock to the up to the cash flowing and we have some reserved <unk> equity but you know lucky you were further damage because it had to happen to you there's one eating the money back that's not the bill was high enough to continue continuing the construction even though they did receive the payment so you come to a point nope when we about to head over to me and the money was still not in not returned to pay them that he gets a little bit agitated or frustrated about he's yeah so penguins the timing was right you came my newest returned about the handover period and we eventually got the money back and paid him so and this is you can sometimes see we're saying a few of them now come on long where half completed projects quarter completed projects projects that have just stole you can drive around some suburbs and you say a building has not had any progression on on the front and this is people who are either being too risky and then i will flying so close to the wind that that that a disruption like what you've just had would've sent them over the hill rotten i couldn't get anymore finance the whole thing info all got other great examples of that up friends of ours who were promised cool with they build went outside they three quarters of the white through a project and they united suburbs haven't been paid so you know the whole building industry cosi in these uncertain times where billed as a a basically also you know one shape to the braces i as well <hes> <unk> very very risky so doing due diligence making sure you've got ample buffers not being too greedy or too aggressive too quickly because that can have a china fix you know a domino effect in terms of how you know what kind of complete that project now i can't get fondest a contemplate that present a concrete honest i'm going to have to sell the property to sell it probably quickly so i can play that project but they'd probably have only just bought and then the whole domino effect type show i think that's wonderful japan we've never had anything like that on the podcast before thank you for sharing yeah those good dance and the other things you put your been various levels of Sauk over the last decade certainly not to the same level as Melbourne in Sydney. What what's your what's your boss to people who planning difficult to not lie when Birmingham stay out of the market when everything's not so booming well I think success I I would suggest try? I was used to try. Try to knock you into all this noise is the media left on this negative negative negative news. I have learned to not to into the mice and yeah so I I know I know I have a strategy of of my I just go with it basically get concerned by short term fluctuations you just you're on the pros and if cash flow says you'll good you'll you don't care what the Curia Mouse is on the Front Pie kill the Sydney. The Morning Herald says you just keep going. No I don't I don't I don't care what they say. I I read. I read then but I just basically so shooting so he's basically you know you have to always get ready for the for the next move so we'll ask no every time they manufacture equity true subdivisions or true building on Beacon Block. We will always go back to the bang. Get The property you re venue and refinance it an uplift equity <unk> equity up nick that was in the offset accounts and then they will fund our next project all nick purchase. We've we've just been through a credit crunch rot had it. How did you rod the credit crunch well hot hot and I I myself as a struggling investor yeah yeah so I've exhausted the main banks first bank? I've exhausted the second tier banks even just so now I my knicks loan. I need to obtain as vice by Mortgage Booker T. Bank so look and that's also part of the challenge of replicating replicating what you've been doing todd credit market but you know we won't share the fall numbers but I can give you an idea that the line to value ratio you sitting around fifty one percent so when you've got a portfolio that it's of the soy's it's it's it's producing positive cachefly in thousands and thousands of dollars each month so I guess that's a good news story and that's been out of our wealth you even the credit conscious is hate. You still able to get it google finance because you've demonstrated skill set of being able to to do the work the united to doing and get the results you have now so. I think that's a credit to you and well done. I'm just wanting here. There's a couple of nonbelievers thought you've got one. You'd I believe in. What do you call it hot spotting? Sorry I mean we do respect I know because I doesn't doesn't go in line with our strategy which is to add value me manager equity almost way so for those out participants always near the way we are in Brisbane we didn't we spent we always stick <unk>. We didn't hang case of responding C._B._D.. So that I can you can add value bench equity to it by subdivisions or by building a working on a plan to you earlier point so my l. v._r.. Of yet of fifty one percent yes that is true of course manufacturing equity to always projects but does that the data product of the other benefit of message of all these projects is actually ended up with a property that deliver a higher bent that you so yeah so basically if you look at my overall renter you is five point eight percent so I can. I can give Zampa if for property we built in Cam help <unk> six case east of <unk>. There was a twenty four. You're still be we bought the land for forty and we built a full bay two and a half bus up house could finishes the bill cost was four hundred ten thousand it was a completed the same year Rebecca the bang into a former evaluation and he came in at one point three five million so we manufactured between two percent or one nine hundred thousand an equity buyer also also the house is being rented at nine ten per week now that generate <hes> when I rented you of five point six percent compared to if you go out with market and buy a new house in the same area they will generate four the six percent meant that you so that you're such a one bay to help us your strategy US benefits in a number wise but one is you add value to you create yield 'cause you've actually increase the yield of the land so you've going from one to two or three in some cases you actually you actually create depreciation and in the car depreciation environment that's that's just go and then the full thing you'd Actually Credit Standard Siamese because you've you've actually turned apples into Apapa rod so if you were to than enter into the market at the level you'd be paying hearts deputy so you've got those <hes> those wonderful benefits from what you're doing. Hey I'm Jay you think that you could replicate your strategy in the current <hes> because I'm always always think there's <hes> Benadryl I <hes> have built two hundred twenty almost two hundred thirty episodes hopefully around Evergreen Principles wrought emigrate principles that apply in any market in any country in any scenario whereas we we get the luxury of interviewing bring people who I would craft out a portfolio deny certain period of time that in some cases cannot be replicated again so my question to you is what you've achieved from the point of view that you say. Do you feel that you could re replicate. What do you think that you are the beneficiary of a a moment in time? That's worked well for you know I. I don't think I've done is rocket science if I can do it and show show humble but I'm talking you bet you know the the the opportunity credit environment where that when we were in the saw Cole over sorts of things do you. Do you think what you've done is evergreen. What do you think it was? I am it was it was a moment in time I think the mall for myself I think may come through an end of what I can do because they're probably reached the loans <unk> sweetie that many banks would not want to look at unless you know and as I <music> as a big change in income oh so all all maybe I will come in going to subscribe nights. I'm over property sell some of the poorer evolving one and then use the funds to do another project in Nick may work for me <hes> yeah so I think he's I still got some some of guessing pink test. You can still go in finer details in and they wanted to fall as a couple of things I mean in in crafting base tops plans for calling since iphone waclaw she was an acting base decides someone who's you've manufactured the equity because you've been willing to give out your personal time on <hes> and you've made it into a business route and and that's been how you've been able to to to be out of doing this and I think that's a full credit to you. It's a credit to knowledge building a knowledge executing learning from mistakes assessing your opportunity problem solving and then building dot com site. That's a that's a great story. There are obviously other people who wanna be passive investors who just want to sit back and let them thing and I think that's the message for mate if always look at your portfolio al-anon side. Could you do this again yes but I think he would need more time in other words. I don't think that so just to give you an example this. She alighted this year. We got to what's called a full disclosure credit regime which means that all the banks well actually share each other's and all of the lenders will basically share credit falls on every Australian so whereas some <hes> some <hes> borrowers if they've got company borrowings wanted disclose that on their personal applications etc etc all that's GonNa come out in the wash now so we're going to say exactly the sort of levels of debt that h individuals holding and I think that's going to change against all it says to me is because you've been Outta do decide quickly and I before news is a credit to you in terms of moving from Singapore into Australia but I think you could still do it but it's just GonNa take a long period of time you know and that's I think that's been a change of macy's age <hes> Wayne Consistent on principles but the realities that it's just GonNa take a little bit long the dice that you can potentially invest quickly and and gear as aggressively as some people do a whole high risk <hes> gone and it just means that you're going to be able to buy fuel properties. Nobody's over a period of time but you can still supplementary income <hes> bog automaton which might be sixty five ninety. That's a really good message which is a great little segue into my final question. which is what is the aim gang for you and awash in terms of wind wind is saying what what is it? An income target is that I time target. What's the story of you good question? Ben Have Not Thought Bowie yet so yeah we keep going. You know we still both MOGAS. Neo gainfully employed ran join what we are doing at look though Evian join this this vestment Jenny so yeah we keep going and <hes> and yeah when I prepared a special for you and that is like a check for me agree with you. Check me in now say oh well under fifty one percent Elvia and two highpoint percent over all that you could I could going. I didn't have a dollar sign in mind to how much to retire and and retire what you do so yeah so we could go in and see what brings so so. Can I just get to land a little bit because you came from humble beginnings. You've you've landed in Australia. You've done a remarkable job of building something that you know we. We say a lot of portfolios. The following is in this business and we really say when lock these <hes> and yet you've probably and let me know if I'm putting words in your mouth but you've probably achieved what was that you originally set out to achieve which which was united to get yourself in a position of <unk>. I think we should be replaced during you could probably do that now comfortably so it's interesting that you haven't necessarily reset the go because I'm certainly the view that just stopping doing nothing and sitting bought the bike shops of saint at Tom and Tom Again from people that just unsightly bold so I get that you need to get you on ticking. I have a bit. Perhaps perhaps that's something that might be useful for you to reset you set what the next goal is because otherwise how much is enough. You are not in theory do I but I did. I heard from your podcast yet. I think you mentioned two thousand five hundred passive income income per week. Possibly enough in today's in today's dollar is right so for some people. It's not enough for some people that's exactly it depends on your lifestyle or your lifestyle yeah later when you retire so at this point we're still young mid forties so Sinai just been so cool even all fossil now. I'm out not the same title but let's you forty six forty seven seven hundred seventy one but the there is another important thing that we do need to share you know children <hes> he's plans for family or maybe not now. It's probably too late now so we two puppies two dogs in the row folic children so that helps with cash flow. That's that's the reality that's when people sort of listening here and they got how they doing these if they you know I own huge incomes now it's not huge incomes Gordon voting comes but h child is gonNA cost anywhere between three hundred and fifty thousand to five hundred thousand dollars depending on school and sort of extracurricular activity so that can have a big impact and obviously begin on lending but when when there's no dependence you'll borrowing powers is significantly high on and we've always said the value of residential property is cash on cash return if you can sensibly get a power of leverage. which is a guy tangent yeah and and for you in in Brisbane we had Jansen was on apple podcast? You'd build until a portfolio in Brisbane thinks it needs to be Melbourne and Sydney. Do you have ambition to be at sort of Queensland or are you well and truly entrenched in Queensland for the time being well and truly I always believe in understanding the debt you know but I yeah so. I must say that I I believe it can be replicated somewhere else time understand that the market and different regulations altogether because that's that's the trade off is not what you've been out of dues for your Equity Harvesting <hes> you try to Fiji Pie Highland Texas Rodriguez or assets by steam the one St and and which is good lawless dame judi as well so that's that's obviously that's your donation to the city of Brisbane which is allowing you to to build wealth. These you're going to be buying lots lots and lots of land tax but a guy because you you become a subject matter expert on how to manufacture equity in Queensland. You're happy to do it because you're still making gyn and it's a significant dying for the a contribution you might say when you sit down on the on the the southern side of the CD day on on the foreshore and watch the fireworks Connecticut. Every every knee is aiding in Brisbane city. You can cy occupied for a couple of days. I think that's important to note as well these tonight to the Brisbane City Council is one big cancel so at least you don't have to be across different councils as you're doing these developments which is good Denson your credit to yourself you and you walk or absolute excellent credit T. cells. It's it's a terrific story <hes>. I don't think anyone wouldn't have got something in if not multiple things out of <hes> at listening to your story Siwa Benadryl is appreciate you coming on to the property catch. Today we appreciate how transplant you've been with us for the better part the transparency of had with <hes> with with the ordinances well hopefully people can take something from your journey lensman listens and <hes> and be inspired to do something similar to what you've done and uh-huh pleasure been very very impressive couple wrong at the beginning and even then thought well. I'm not going to be deterred off. Go to vision on what I want and I want to sit mobbing type why there and we come back to you know your mindset minute around what's going on. Preparation and knowledge is power route so he was able to understand the rules the regulations get better at those things and and because he put the editing and remember you know most of the quantum we look after Tom Po professionals who just want to build at passive wealth and that's the vast majority of people but if you want to get your hands dirty and if you WanNa make it something that you that is your career are- your business and then you can obviously get rewards from that so from that point of view all credit to Danson Yup absolutely so dense and we appreciate you coming on and sharing your story with probably catch community high. I've been moral effect. Today is a follow on from last week we talked about you can measure distances on Google maps. Did you know awhile. It's probably shouldn't need that trademark plus something else. Are you aware of the the fact that on the phone is an APP which comes a standard for the off on Yes yes and do you know you just tap that. You can do different conversions. No you what you do. Is You tap it and then you can actually just measure between <hes> distances wrought so watch this. I'll just tap that guy from that beat on the desk all the way to that on the desk and it tells me that was fifty four centimeters by that. I just thought it was did so. I didn't necessarily spend two on down so that narrow focus all the pao that apple has viable to and then obviously the same APP. It has a little spurt liberal there so we can just a little spirit level ever looking for a spirit level band. We got there. It is this if you want to measure between two distances and you WANNA spirit level and as usual. I'm just writing to myself install install that APP. Now I think some of them you can get rid of <hes> well. Maybe that one must be somewhere onto my tools. Yes I just never got into that toolbox for so that was hopeful rot problem for you you is you have often so and if apple listening one put converters in there as well where he moved from centimeters two inches and interest is a lot of stuff as well because that would be an enhancement on as well. We've does spirit level colon it actually measures from point to point out the conversions from Columbus to malls miles to kilometers volume and all England series so they got a few <hes> wandering around August very protective over stuff ben they Wakai well. I think it's important NAB Roscoff to the United Lightest interest rate reduction and we've talked more about the economy and we're seeing Shaimaa market on a pretty good run at the moment so I think you know and coming back to what Hallam was saying around the story there about the husband who's an introvert saying I think people are happy. I I do think that clarity and that sort of you know we've moved past the election and we're GONNA see this little mini bounce so when Natto Yoga's towards what we're going to measure the probably point of view so I I thought I'll just license foundations so in the section of going back to our good friends at cool logic and I'm just going to talk about two sets of data and this is the my data on June or get that but this is the my daughter and I'm just GonNa Light and then in about three months time I'm gonNA come back to a couple of these data points and the other one on those are going to start exploring these dyes on market in about three months tom up so we can just see the movement in regards to demand and supply so we can start to say probably Makalintal because code it said you know August September will be the bottom of the of the prosecutor so we're going to stop firstly with with <hes> styles movements so monthly sows with six months moving average so what have we seen year on year change in settlement siles route so nationally in the so this is from my two thousand and I tend to two thousand and awning nationally in terms of settlements volumes down fourteen point four percent are outside regional combined is Dan eleven point four percent and combined capitals is Dan Sixteen point point four percent belaid Washington's. I believe but led by Melvin whose sales transactions down a quarter twenty five point three percents Sienese Down Twenty one point six percent Brisbane is down down nine point three percent Hara bots down six point nine percent Perth down four point six percent camber is down one point one percent and then bucking the trend Darwin transactions off they bought him almost two point two percent increase in transactions in at allied leading the charge with three percent so so so this is measuring activity rotten so in measuring the amount of transactions transactions that have occurred so from that point of view off twenty five percent but as you know eyebrows in market we locked to say opportunity and that's when we go shopping so what's the spice of that will turn the other measure that we want to look at from a demand and supply point of view stock on mark and so I think it's important that we have a couple of looks at that at some of the data here up so firstly what we're looking at here is for the last twenty is two if the mice or guiding where month lagging Dada but that's where we get more reliable data so the number of new listings in Sydney before the election so this is pre election. That's why I'm sitting the same now and I wanNA come back to these use in a few months time is the number of new listings in Sydney was four thousand six hundred ten now in terms of that twelve month change for the same period the before that's down thirty three percent food that's the third row so total numbers of listings in Sydney and this is what we want to track these in terms of whether it's I- rausing todd lifting all ships. That's one of the measures now for us. We know this is just a thirty thousand foot view we we we think the balance will be strongest in the higher value areas. That's what will lead the change and was saying that already evidence diver in Perth in regards to the top twenty five percent court all the properties moving so in terms of overall listings in Sydney this twenty six thousand seven hundred eighty listings now. That's down three percent on twelve months ago now. Remember Sydney is bathing correction Feis since peaking out in around that sort of September October a period of two thousand and seven nine Melbourne saw listings of far thousand five hundred and seventeen on properties that is Dan thirty four percent on the same period the sign twenty period twelve months ago Yulia title number listings thirty four thousand four hundred eighteen now that you sighing the stock levels I ten percent higher that twelve month period so that absorption just hasn't it happened because the ball is having been there Brisbane three thousand two hundred twenty six. That's a twenty three percent change. The total stalk available is twenty thousand eight hundred and fifteen so that's an increase of five point six percent Adelaide seven hundred thirty four. That's only down fifteen percent so that means that that market is a little bit more poignant total listings on the market eight thousand six hundred and forty five that indicates a positive change in terms of number available for Silas three point two percent per two thousand eight hundred eighteen. That's down twenty four percents. I they continue to still have have less properties coming onto the market until there's more confidence financing. The mockup titled Listings in W._I.. Or Perth I should say twenty thousand six hundred ninety two now that's twelve percent two point five percent fewer than the same period last year hard about obviously very small property market. We tend to forget that Hobart and Darwin you now top twenty population areas. I think role in its thirteenth seventeenth route so Gulf coast is bigger than those markets as an example so don't be confused by the small numbers <hes> three hundred night properties new listings coming on the market. That's twenty one percent down on last year. They're still got a twelve hundred and forty two properties. That's fifteen percent higher so I haven't been absorbing. We'll be which says that that's coming off the boil down to one hundred and twenty new listings. That's down eleven percent. They've got four eight hundred thirteen properties that China's only point this. I think that's probably coming to the bottom camera five five hundred four t five new listings that seventy percent down on the same period last year that twenty period our role for the twelve months listings two thousand four hundred twenty three and that changes at twenty one percent increasing stock of that period which is the highest level of increasing stock either that area so we would. That's just seen sitting in the United I let's come back to that inserting back in early spring in and see what we learn in regards to the change in that and we'll also be talking about what we're seeing location school will get Jeremy Ship it on in an upcoming episode do a bit of a data dog in regards to what he's saying in regards to demand minded supply movements across the nation so we can we can get a real saints that our views of the property <hes> sort of leveling out <hes>. He's got to be supported by the data been so that's a good fan die. Actually we look forward to circling back to that at some stage they got Fox hopefully you <hes> were were intrigued and interested and got a lot out of <hes> Danson's journeys portfolio and <hes> we certainly appreciate those people that have contributed to apple costed I whether whether that's <hes> sending in some feedback contributing to the mindset independent but until next week knowledge is empowering broths but only if you act on it couldn't said it better myself say next week Fox Hi there folks Bryce Hallway before you go if you're new to our community Indian only listen to maybe a handful of episodes I thoroughly recommend that you go all the way back to episode number one where we unpacked all of the foundations when it comes to property investing for those of you that might be a little bit tom poor of good the good news for you. We have a binge God you can download straight away which summarizes the first twenty episodes where Benoy unpack the foundational pillars of the A._B._C._d.. And so much more and you can get that straightaway if you go to the property catch dot com Dodi Ford Slash T._p._C. Twenty you can download and consume it whenever you want. It's completely free and available now and for those of you just a quick reminder that nothing.