What has Juan learnt from buying a property for his young family?
In Episode #425 of 'Musings', Juan & I discuss: all the factors that go into buying a property, my prioritisation of social and financial freedom, whether there is a housing bubble here at the moment and if the metaverse/digital world will have any effect of future house prices.
Massive thanks to Dave Jones & Petar The Slav for the support. These two have been rock solid since almost day dot!
Timeline:
(0:00) - Intro
(0:59) - Juan's housewarming/bbq
(3:13) - Long term real returns from investments
(9:34) - Decision making of investment vs preferences
(20:05) - Kyrin's reasons to not buy property
(28:53) - Predictions: Juan's master spreadsheet
(33:07) - Boostagram Lounge
(39:02) - More MM and Spotify bad bad
(42:06) - Australian housing crisis
(48:52) - Are houses unafforable nowadays?
(59:30) - Location location location
(1:05:15) - Own nothing and you'll be happy
(1:10:31) - Summary
(1:13:58) - References
(1:17:05) - V4V: I need some voice actors
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Kyrin Down & Juan Grana: Welcome
Mere Mortalites
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to another episode of Mere
mortals Musings.
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You've got two Mere
mortals here, Kyrin
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Juan on the other side.
On the 13th of December
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2023, live as usual,
7 p.m., Australian
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Eastern Standard Time.
We would love for you
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to come and join us.
At the moment
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is just on the YouTube,
but hopefully
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in the next month or two
I'll be able to get this on
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the podcasting apps as well.
So yeah, YouTube at the moment.
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More to come in the Future
Musings episode is where we dive
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deep into a particular
topic, a theme,
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and we expand upon
that practical philosophy,
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effective philosophy.
So this is really
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implementing things
that might be out
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in the airy fairy world
and bringing them down
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to the real life. And today
I trust today's topic button ones
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probably going to be doing
most of the talking.
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I hope so. I hope so. And this is
because we went to
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a little barbecue house
gathering this. Barbecue.
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And it was actually
Wan's not housewarming,
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but pre-hospital. Let's be clear
not house warming a.
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Pre housewarming pre house
so it was a couple of friends,
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mostly old high school friends
plus one or two others
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getting together and I had
a look around the house.
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Very, very nice house
was beautiful place,
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beautiful family. And I thought,
you know, one's
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probably gone through
what Rod and I how much,
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how much effort would you,
how many hours would
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you have dedicated over
the last six months to a
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to buying this property.
Would you say.
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It's only two a day.
Something like that. The Tuesday.
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Yeah, I probably said that today
for like six months. Yeah.
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So, so that's like racked up
quite a few hours
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just straight up that. Yeah.
That's couple of hundred
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hours of a research.
And I have known in the past
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one has bought a property
before so he's not a
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complete newbie to this so yeah.
Get into I suppose all things
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related to Australian property
in particular. That's, that's
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what one definitely knows.
But also just the general
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financial decisions
of buying property,
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location, location,
that sort of thing.
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And I've even I'll
take the opposite side
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and I've got some negatives too.
Why you shouldn't
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buy property. okay. So where
should we start off on?
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What do you think's
a good starting
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well of this discussion?
When I was thinking about this
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coming into this
particular book now got no notes.
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But that's why you need
a night is all of
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it really is quite recent.
So yes, my family did
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purchase a new property
not too long ago
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and it really does come down to
and probably
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we're going to focus in
some of these bits
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above the conversation,
although you can obviously differ
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depending on
what you're looking at is
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and what I feel like
I'm using a lot in 2023
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is what you're optimising for.
So at least for me personally,
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you know, when I'm
looking at the house
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that we just purchased,
it was very much a, Hey,
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this is a family home, correct?
Family homes
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going to have X things,
Y things is you'll be more
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sentimental around.
my God, I want to have
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these views. I want to be able
to lay back and have these
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experiences,
you know, necessarily
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looking at the numbers apart
from making them work.
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So you can have it's.
Not as much of
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an investment decision.
all right. Maybe we can start off
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with this.
If you're a young family
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or you're,
you know, a young person
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and you're maybe looking
to buy your dream home
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and this is the home that
you want to live in for,
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let's just say the next
ten years or something,
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maybe even longer, 20, 20, 30.
How much of that decision
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making is based on
it as an investment, as in
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you'll be able to sell it
for more in the future
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or it'll hold some sort of
like the financial
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sort of aspect of it
and even in the buying of
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it versus the low station,
the amenities close to it,
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the type of neighbourhood
it's in, that sort of thing.
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What do you, what,
how much of you would,
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would you say was like looking
at economics, finances,
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this is what
needs to happen versus it's got
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to like nice school here.
I can see the sunset from
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this location.
it's got to, you know,
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that's a river nearby.
But look, take, take the view of
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take a view of, of, of
housing as an investment.
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So purely on the drop
away, all the other stuff
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that we can get
into the variable, I'll just
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say one of the variables
that you probably are looking
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from a housing perspective
now, but
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purely from an investment,
I think for a very long time.
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Yeah, you can go back
100,000 years
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in terms of owning assets,
owning land, owning big things.
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That was always a valuable
thing and thing.
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It continues to be
valuable in any way, shape
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home, saying it's
obviously not a valuable
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or a thing
people should do, right?
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We can maybe talk about that with
the digital world coming upon us.
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However, you know,
if you to look at it very
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directly and say, I borrow
something from Ramit.
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Yeah. He says. This roommate
set it. Yeah. So with rent
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and do I agree completely
with all the stuff he talks about
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from a property perspective?
Not so much.
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So he's like a financial.
Yeah, he uses like. Kind of get.
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Rich, something like that Netflix
sort of show go on about money.
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He actually had a back
and forth conversation
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with me on Twitter
just the other day.
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I was kind of debating him
about some of this money.
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shit. Like it was coconut.
I had a lot of people back me up,
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which was interesting.
Okay, good.
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But the Michael I do agree
with is when you rent,
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that's the minimum amount.
Minimum amount
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that you're going to be
paying on a basic
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or fortnightly basis.
Well, when you own a home,
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the loan is the sorry you're
renting maximum amount,
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you're going
to pay the week to week.
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Yeah, I was going to say.
From a homeland perspective,
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it's the minimum
you going to pay. Obviously
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there's lots of other fees
as maintenance, whatever, right?
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So there's that aspect of
looking at it
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from okay, investment.
There's all the things
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that's hidden.
About as one of my points.
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But the the other one
around with investment
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I think people need to realise is
and of course digital
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things have changed. There's
things like Bitcoin or NFT
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or whatever else
you want to have.
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Look at if you're
purchasing a house
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purely on an investment
perspective, I think be in
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the know how that it's a
low. It's sort of
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on the end of okay,
it's a slightly safer bet,
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but with a less return
on your investment
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than other things
that could eventuate.
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Yes, all those have higher risk.
However, if you're looking
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at that too,
I'm going to purchase properties
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and I'm going to become
quite wealthy. That's the long.
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Yeah, okay.
Nothing wrong to that.
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Obviously people
obviously have built up,
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you know, great portfolios
doing in that,
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but obviously you wouldn't
go into the path of,
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hey, I'm going to buy this
investment property
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in five years. I'm
going over time. Yeah.
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Probably one off the top
of my head. Just in terms
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of the general
investing and finances,
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I'm looking at this
on a decades long scale,
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maybe even longer,
like hundreds of years
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long scale. I believe
the general return of investments
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and some of these are super new.
So obviously you can't
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measure Bitcoin because
it's only a decade old.
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But I believe it was like,
you know, cash is the worst
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that actively dissipates
and goes down.
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Bonds So buying into
the government is
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will give like a couple
of percent
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per year on average over
many years. I think it was then
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something like housing
would be no for Irish percent
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or something like that.
And then I'd think
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equities or stocks
and things like that are
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closer to like 6 to 8%.
I could be totally wrong
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here, but. I. Don't think I'm
totally wrong. Yeah,
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so the numbers
might not be exact,
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but I believe that was the
kind of general ranking
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order. Sure.
And we're not going to get
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into like the you
you can make calls off
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if you've got property,
you're leveraging
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00:07:33,369 --> 00:07:35,954
money off the bank or sometimes
you can't leverage money
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for some of the other assets.
Plain simple, though, you know,
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the particular pictures
that I went in,
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there wasn't a whole lot.
If there's going to be investment
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numbers or thinking about
I was really looking at it
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from a again, 5 to 10% ratio,
It was, yes, I understand
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what I'm purchasing in terms
of the valuation of
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the area and the location,
but as an investment investment,
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there wasn't a whole host.
So what I bet I
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00:07:59,562 --> 00:08:02,355
in fact I only saw it
because it popped up somewhere
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like two days ago.
I wouldn't have any clue
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how much I would rent it
not and I guess I wasn't
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the intended
the place Euro. Place.
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Thinking to rent it out,
but I just never even
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looked into those numbers.
200 bucks a week. That's not.
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I'll give you a. Hundred
bucks, folks. That's
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how much it would cost
to still a market declining.
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But, you know,
if you go and have a look,
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I've got a spreadsheet
with like a few big fat
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spreadsheet, like a Ramos
a spreadsheet face Master Excel
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spreadsheet. Huge. So many tabs.
Some of those tabs
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in terms of property. So in each
one of the properties
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00:08:31,384 --> 00:08:36,515
as a whole, breakdown
of every single expense
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costs rent predicted.
I've got like a ten year.
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How much it look like, you know,
is it going to be up
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and down in a ten year cycle,
all this sort of stuff,
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Some of those,
but yeah, probably that.
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I have another investment
perspective.
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You better believe I'm
looking at the numbers.
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I didn't give a shit
any more about,
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Well, is it facing east
and when does the sun go up
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00:08:53,407 --> 00:08:55,451
and is it making too much noise?
Because I'm not think
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it's more very particular
to the numbers and how it works
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and the taxation
strategy and blah blah blah.
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00:09:00,581 --> 00:09:05,211
So make it focus on it
for that particular for me more
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00:09:05,211 --> 00:09:10,298
so it was the variables
of okay, it's moving into a home
200
00:09:07,504 --> 00:09:11,926
where the go 808 sites
particular going to be
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my forever home.
The sudden reasons okay, I'm
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00:09:13,094 --> 00:09:16,389
just going to be home
for the next foreseeable future.
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Ten years, 15 years,
something like that
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00:09:17,932 --> 00:09:19,600
that's probably going
to hit the market. Sorry.
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But those are looking at the
the living variables
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00:09:21,519 --> 00:09:25,022
that actually make more
sense to look at
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00:09:25,022 --> 00:09:27,732
is that as a family,
young family, anybody
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going to live somewhere? Okay.
I want to ask
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00:09:29,025 --> 00:09:33,947
more about the event
and investment sort
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00:09:30,485 --> 00:09:36,701
of financial things. But
for you, particularly
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when you bought this home,
how much of your decision
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00:09:37,951 --> 00:09:40,955
making was based
on the finances versus
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00:09:41,205 --> 00:09:44,375
all those other things
I was mentioning? You know,
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location, closeness
to schools, all those,
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00:09:45,875 --> 00:09:48,129
all that sort of stuff
for you personally.
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00:09:48,129 --> 00:09:50,548
So for everyone, I think
there's always a plot
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00:09:50,548 --> 00:09:52,258
unless you literally
have like infinite money
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00:09:52,258 --> 00:09:53,426
or a billionaire
or something like that.
219
00:09:53,426 --> 00:09:55,845
There is a cap where you want
to see your cell phone,
220
00:09:55,845 --> 00:09:58,764
whether it's I've got you
buying out of cash, loaning
221
00:09:58,764 --> 00:10:01,850
what up going to get,
I've got to a limit
222
00:09:59,889 --> 00:10:04,769
for a particular reason.
So finances wise, yeah,
223
00:10:01,850 --> 00:10:06,397
there's always going to be
some sort of constraint,
224
00:10:04,769 --> 00:10:07,856
which is good. More constraint
you have, the better it.
225
00:10:07,856 --> 00:10:10,692
Can be makes decision making is.
Yeah, he was an interesting one.
226
00:10:10,692 --> 00:10:11,818
You know, the first time
we purchased
227
00:10:11,818 --> 00:10:16,573
the property was in 2016.
Now earlier 2016, the 2016
228
00:10:16,573 --> 00:10:20,327
purchase our first property.
And this is jointly Yes.
229
00:10:20,327 --> 00:10:22,163
Yes. When we purchased
that property
230
00:10:22,163 --> 00:10:24,914
there were some hardcore
constraints. Okay.
231
00:10:24,914 --> 00:10:27,751
We didn't have much available.
Income wasn't great. Yeah.
232
00:10:27,751 --> 00:10:31,797
So the options were minimal.
That's that's
233
00:10:29,294 --> 00:10:33,506
one two years out of uni.
So this is like, you know.
234
00:10:33,506 --> 00:10:35,551
They had just started
making money.
235
00:10:35,551 --> 00:10:38,803
They're still paying off.
Mexico Hayek's, which is,
236
00:10:36,719 --> 00:10:39,846
you know, student
loans here in Australia.
237
00:10:39,846 --> 00:10:44,351
Those just it was cutting it bare
minimum was available.
238
00:10:44,434 --> 00:10:47,355
It made it kind of easier though,
because of those
239
00:10:46,062 --> 00:10:48,980
constraints. Right.
If you've only got
240
00:10:47,355 --> 00:10:50,649
the option of ten things,
well, you've got to shoot
241
00:10:48,980 --> 00:10:52,525
out of those ten things.
That's the best thing
242
00:10:50,649 --> 00:10:55,111
you can get, obviously.
Now, Tom, come forward.
243
00:10:52,525 --> 00:10:56,655
We've been fortunate.
There was a lot
244
00:10:55,111 --> 00:10:59,866
of options. Right?
And so finances, while obviously
245
00:10:58,240 --> 00:11:02,119
there was that constraint, it was
less of a constraint.
246
00:11:02,202 --> 00:11:04,663
And so because of that, we
had more problems in our hands.
247
00:11:04,663 --> 00:11:09,376
So to give you an idea,
in this process, yes,
248
00:11:07,500 --> 00:11:10,211
we've landed on a place
that we're living at now,
249
00:11:10,211 --> 00:11:12,754
which amazing, awesome,
really good we got there
250
00:11:12,754 --> 00:11:20,596
in that process. One, we, we
we actually won another property,
251
00:11:20,679 --> 00:11:23,014
so we want another property
where we put more money
252
00:11:23,014 --> 00:11:25,600
in than the second person,
but that they ended up went with
253
00:11:25,600 --> 00:11:28,937
the second person anyways.
We didn't like Latinos.
254
00:11:28,937 --> 00:11:30,980
I don't know what's going
on. The other property.
255
00:11:30,980 --> 00:11:33,734
We actually got it.
We have the contract will sign.
256
00:11:33,734 --> 00:11:36,861
We backed out of it for.
We can talk about the variables
257
00:11:36,861 --> 00:11:40,240
when you look at housing supply.
So we backed out
258
00:11:37,822 --> 00:11:43,284
for a particular reason.
A third one we were waiting for
259
00:11:43,284 --> 00:11:46,455
almost a month around. We thought
we had the highest price.
260
00:11:46,455 --> 00:11:48,164
Then we were glad that it didn't
end up going through.
261
00:11:48,164 --> 00:11:50,793
It had because of the
other issues
262
00:11:49,166 --> 00:11:53,796
that were around the area.
So, you know, finances definitely
263
00:11:53,796 --> 00:11:57,424
maybe put us in more strife
in the sense of
264
00:11:55,923 --> 00:11:59,927
we had more options. And so
with more options came
265
00:12:00,009 --> 00:12:02,053
more looking, more locations
that we could look at,
266
00:12:02,053 --> 00:12:03,431
more variations
of the properties,
267
00:12:03,431 --> 00:12:06,517
so we could look at all
the things that we could accept,
268
00:12:04,514 --> 00:12:08,727
not accept, etc..
And so that made it
269
00:12:06,517 --> 00:12:09,894
way more difficult.
So obviously played
270
00:12:09,894 --> 00:12:11,772
a part in the sense
that it made it
271
00:12:11,772 --> 00:12:15,400
gave us the availability
for more, but the availability
272
00:12:13,691 --> 00:12:17,278
for more made it harder
for us to then choose
273
00:12:15,400 --> 00:12:19,363
a particular thing. In the end,
the one that we ended up
274
00:12:17,861 --> 00:12:22,032
choosing, at least for family
perspective. Yes, finances.
275
00:12:22,032 --> 00:12:25,076
And I'm talking two parts.
There's purchasing.
276
00:12:25,076 --> 00:12:27,913
There's I guess if you think
like a business or anything else
277
00:12:27,913 --> 00:12:30,457
was a capital expenditure
of actually obtaining the asset.
278
00:12:30,457 --> 00:12:33,586
So did we have enough money
to obtain the asset? Cool.
279
00:12:33,586 --> 00:12:36,422
That's what we need. Awesome.
We go through that process
280
00:12:34,794 --> 00:12:38,923
and you know, if
you're buying a property,
281
00:12:36,422 --> 00:12:40,842
you're buying it
at least in Australia auction
282
00:12:39,884 --> 00:12:42,344
or you're buying it, you know,
on, on the market type of deal
283
00:12:42,344 --> 00:12:45,806
and you're paying for it,
you can have 30 day, 60 days
284
00:12:43,596 --> 00:12:46,307
whatever to sell. Cool.
That's a capital.
285
00:12:46,307 --> 00:12:48,808
You need the capital
to get the asset at your name.
286
00:12:48,808 --> 00:12:54,105
But then there is the ongoing
operational expenses that
287
00:12:51,102 --> 00:12:56,357
you have to incur, a.k.a.
maintenance, paying back a loan,
288
00:12:56,357 --> 00:12:58,527
paying whatever else
might be outstanding.
289
00:12:58,527 --> 00:13:02,447
You also have to consider,
okay, can we can you do that for
290
00:13:00,571 --> 00:13:04,158
the foreseeable future?
Can you do that if you have to
291
00:13:04,158 --> 00:13:06,284
go on a holiday, can you do that
if you don't get paid for
292
00:13:06,284 --> 00:13:09,705
two months, something like that.
So those both
293
00:13:07,202 --> 00:13:11,456
the consideration of
obtaining the asset capital
294
00:13:11,456 --> 00:13:13,918
and maintaining
the asset operational.
295
00:13:14,000 --> 00:13:17,504
Are so still an answer.
My question. So I'll let's say
296
00:13:17,504 --> 00:13:21,174
ratio was just
from your explanation 5050
297
00:13:21,424 --> 00:13:24,720
out of the you know, 50% is like
looking at the finances,
298
00:13:24,720 --> 00:13:27,222
looking at going, okay,
this is what I can afford.
299
00:13:27,222 --> 00:13:29,432
This is roughly
what's in the market.
300
00:13:29,432 --> 00:13:34,647
You know, this is how much
what's a bond or margin,
301
00:13:31,476 --> 00:13:37,566
what's a coping? Yeah,
the mortgage down payment.
302
00:13:37,566 --> 00:13:41,070
A down payment. This is
how much I'll have to
303
00:13:39,025 --> 00:13:43,029
do this, but I can
scrounge up myself
304
00:13:41,070 --> 00:13:45,407
between me and my partner.
And then it's also. okay.
305
00:13:45,407 --> 00:13:48,034
Like we've kind of got one,
you know, we're
306
00:13:46,908 --> 00:13:50,663
going forward on this.
And then it's like,
307
00:13:48,034 --> 00:13:52,081
it's in a floodplain.
I'm not sure
308
00:13:50,663 --> 00:13:55,083
I really want to do that.
Or What was the reason
309
00:13:52,081 --> 00:13:58,086
for you backing out of
one of those? Well, say,
310
00:13:56,000 --> 00:14:01,465
how much was it for?
Is it weighed
311
00:13:58,086 --> 00:14:03,424
in the sense of, okay,
maybe I'll put it this way,
312
00:14:03,424 --> 00:14:08,556
if in 2016 I had the option
of ten properties, we
313
00:14:04,677 --> 00:14:11,558
have the option now to buy
10,000, a thousand different,
314
00:14:11,558 --> 00:14:15,937
but we constricted
ourselves to like a narrow
315
00:14:15,937 --> 00:14:20,024
band in a more of the upper level
of what we can afford
316
00:14:20,024 --> 00:14:23,153
and then screwed ourselves over
because our expectation
317
00:14:21,360 --> 00:14:24,779
was, well, if we're paying
that much money, we can get
318
00:14:24,779 --> 00:14:28,283
all these things that we now
want and attributes of the house.
319
00:14:28,283 --> 00:14:31,995
And now the market has moves.
As you know, we're talking
320
00:14:30,285 --> 00:14:33,873
Australian market prices
have moved expectations
321
00:14:31,995 --> 00:14:35,499
and we talk more.
About that, you. Know,
322
00:14:34,331 --> 00:14:36,250
so then trying to say,
look, finances,
323
00:14:36,250 --> 00:14:39,253
I'll sell you like 50%
of a big amount of pots.
324
00:14:39,253 --> 00:14:43,090
So now you go to a place and go,
Wow, I'm going to buy in
325
00:14:41,297 --> 00:14:46,759
no matter what.
Because what I'll say
326
00:14:43,090 --> 00:14:48,470
that's like 5050 on a.
Good, good way
327
00:14:46,759 --> 00:14:49,929
to get screwed over if you go on
with that mentality.
328
00:14:49,929 --> 00:14:52,975
Okay, That's that's
kind of roughly
329
00:14:50,806 --> 00:14:55,019
what I was expecting. You know,
finance, it's a massive
330
00:14:55,019 --> 00:14:57,395
purchasing decision
and it's one that you
331
00:14:57,395 --> 00:15:01,817
lock in for a long time.
So you obviously do need to think
332
00:15:01,817 --> 00:15:04,653
about the finances,
about it pretty hard.
333
00:15:04,653 --> 00:15:08,032
But then I suppose in, you
know, lifestyle choices,
334
00:15:08,115 --> 00:15:11,118
you know, where you live
dictates a lot of things.
335
00:15:11,243 --> 00:15:15,038
I've been saying this recently
where it's just like I,
336
00:15:15,038 --> 00:15:17,791
I feel like I'm
in the middle of suburbia.
337
00:15:17,791 --> 00:15:20,461
It's weird because I'm close
to the city in some ways,
338
00:15:20,461 --> 00:15:24,673
but also not really.
It feels like I'm in suburbia
339
00:15:24,673 --> 00:15:31,721
here and it's definitely in terms
of just many aspects of my life.
340
00:15:31,721 --> 00:15:36,143
When I go out for a walk, when I
where I go out to train
341
00:15:36,143 --> 00:15:39,062
like people in the gym
that are meeting,
342
00:15:39,062 --> 00:15:42,191
they're all kind of like
in different life paths
343
00:15:42,191 --> 00:15:46,153
than where I am at the moment.
It's like,
344
00:15:43,274 --> 00:15:48,029
you know, this is maybe a
where I need to think
345
00:15:46,153 --> 00:15:49,322
about where I'm living
so I can maybe live somewhere
346
00:15:49,322 --> 00:15:51,283
that's more suited
to where I'm at currently
347
00:15:51,283 --> 00:15:54,662
in my lifestyle and
in my life. And that would
348
00:15:54,745 --> 00:15:58,164
just make things better
in terms of connecting
349
00:15:58,164 --> 00:16:01,418
with people, finding,
you know, a partner or,
350
00:16:01,626 --> 00:16:05,380
you know, even even
just like seeing family
351
00:16:02,378 --> 00:16:10,219
and things like this. Yeah, Yeah.
It would make it, it would be
352
00:16:08,174 --> 00:16:12,096
a pretty big decision
to move out as well and be like,
353
00:16:12,096 --> 00:16:13,721
okay, well,
where do I want to move?
354
00:16:13,721 --> 00:16:15,975
So that's roughly what
I was thinking recently.
355
00:16:15,975 --> 00:16:17,475
Like if I was going to
move out, I'd
356
00:16:17,475 --> 00:16:20,229
probably spend about 50%
of the time thinking about
357
00:16:20,229 --> 00:16:22,898
where can I afford rent
wise, what would be good?
358
00:16:22,898 --> 00:16:26,860
And then 50% would be
location, how close it is
359
00:16:24,942 --> 00:16:28,821
to the freeway
so I can go back home,
360
00:16:26,860 --> 00:16:32,157
how close it is to the places
I'd want to work out, or
361
00:16:32,240 --> 00:16:33,908
the normal things
I do in my life.
362
00:16:33,908 --> 00:16:36,703
Like how often do I go to
the city? Is it important
363
00:16:35,410 --> 00:16:37,538
to be close to that,
all that sort of stuff? Yeah.
364
00:16:37,538 --> 00:16:39,163
And I think, well,
that was going to be
365
00:16:39,163 --> 00:16:40,916
the other variables
in terms of okay,
366
00:16:40,916 --> 00:16:43,001
we talked about the
investment in the finances
367
00:16:43,001 --> 00:16:45,294
aspect of it,
but from a the other side
368
00:16:45,294 --> 00:16:46,629
and again,
this is obviously going
369
00:16:46,629 --> 00:16:49,716
to be very specific
to an individual and or
370
00:16:49,716 --> 00:16:55,014
the family or whatever
you are listening I'm right now
371
00:16:51,759 --> 00:16:57,725
what you care about but
it would be
372
00:16:55,096 --> 00:17:00,309
probably easiest to see
like in your life,
373
00:16:57,725 --> 00:17:02,645
what's the two,
three, four big things that you
374
00:17:02,645 --> 00:17:06,191
are routinely doing
or you love doing,
375
00:17:04,064 --> 00:17:07,901
or you want to do more
of what you care about
376
00:17:07,901 --> 00:17:11,154
and then finding the place
that's going to actually
377
00:17:11,238 --> 00:17:12,823
help you out
and doing a lot of things.
378
00:17:12,823 --> 00:17:16,535
Let's just say for me
a clear example. Hey Jim,
379
00:17:16,535 --> 00:17:18,703
I like to be fairly
close to the gym now.
380
00:17:18,703 --> 00:17:21,123
The place that we've moved
to, it's slightly closer,
381
00:17:21,123 --> 00:17:23,000
not altogether
that much more closer,
382
00:17:23,000 --> 00:17:24,876
but slightly closer to
when I was living there.
383
00:17:24,876 --> 00:17:26,377
Before I can get there
a little bit quicker,
384
00:17:26,377 --> 00:17:31,174
I could say, you know, I'm
improving that a little
385
00:17:27,712 --> 00:17:32,425
bit too big one for us.
It was okay.
386
00:17:32,425 --> 00:17:35,345
Future school catchment
and school locations. Okay, Well,
387
00:17:35,345 --> 00:17:38,015
we were before
probably not the schools
388
00:17:36,387 --> 00:17:39,307
we want to send
our little baby girl
389
00:17:38,015 --> 00:17:40,683
in the future.
Okay, now we have all.
390
00:17:40,683 --> 00:17:43,103
That's a huge thing right? School
catchments for families.
391
00:17:43,103 --> 00:17:45,980
Or if you're young, you're
going to look into that
392
00:17:45,980 --> 00:17:47,566
huge thing.
That's a massive thing.
393
00:17:47,566 --> 00:17:49,692
Obviously, if you want to be
in a particular catchment
394
00:17:48,232 --> 00:17:52,028
or particular area.
So catchment basically
395
00:17:49,692 --> 00:17:54,239
just means you have to be
within a certain
396
00:17:52,028 --> 00:17:55,240
radius of the school,
something like that, something.
397
00:17:55,240 --> 00:17:57,116
Like that
sometimes works of radius,
398
00:17:57,116 --> 00:17:59,327
sometimes it works
out of actual suburb like
399
00:17:59,327 --> 00:18:02,623
catchment areas and lines.
So obviously have to look into it
400
00:18:02,623 --> 00:18:05,792
that big pot work. Obviously
I had a conversation
401
00:18:05,792 --> 00:18:08,170
actually today about this
with someone where I was
402
00:18:08,170 --> 00:18:10,506
talking to them
about my new place
403
00:18:08,545 --> 00:18:12,340
and I said, Look, you comparison
to the old place,
404
00:18:12,340 --> 00:18:14,384
I'm probably saving
50 minutes this morning
405
00:18:14,384 --> 00:18:17,261
in that scenario in terms of me.
And while I'm I don't see so much
406
00:18:17,261 --> 00:18:20,766
because right now in Australia
being summer, it's
407
00:18:18,262 --> 00:18:24,394
quite like everything else
I went the super one
408
00:18:20,766 --> 00:18:26,355
when it comes to winter it
it will be kind of
409
00:18:24,478 --> 00:18:27,564
a deciding factor.
Still lets me get home.
410
00:18:27,564 --> 00:18:28,941
Well there's
a little bit of daylight
411
00:18:28,941 --> 00:18:30,275
still around
for most of the days.
412
00:18:30,275 --> 00:18:31,902
I'll go fantastic,
especially when there's
413
00:18:31,902 --> 00:18:35,196
like in the office.
But to each the thing
414
00:18:33,069 --> 00:18:36,490
at the moment
that definitely does enable,
415
00:18:36,490 --> 00:18:39,159
especially when working
a full day in the office
416
00:18:37,240 --> 00:18:42,162
or somewhere else.
It's what lets me get home
417
00:18:39,159 --> 00:18:43,830
and see my little girl
before she goes to sleep
418
00:18:42,162 --> 00:18:45,665
or in the morning.
So there's like that
419
00:18:43,830 --> 00:18:47,625
extra flexibility. So I get tick
because it's given me
420
00:18:46,458 --> 00:18:50,045
that extra time with family
in terms of closeness
421
00:18:50,045 --> 00:18:54,340
to from a work context. So yeah,
all of those variables
422
00:18:52,506 --> 00:18:57,009
for me are important.
Obviously for yourself,
423
00:18:54,340 --> 00:18:58,886
you probably say tight,
close proximity to
424
00:18:58,886 --> 00:19:00,556
a place that you can
work out or, you know,
425
00:19:00,556 --> 00:19:03,517
hang out with people
or enables you to
426
00:19:03,642 --> 00:19:07,395
stay socially connected.
I mean, there's
427
00:19:04,893 --> 00:19:09,772
effects, obviously,
but it doesn't necessarily
428
00:19:07,479 --> 00:19:12,859
I think as you probably
whatever you decide it is doesn't
429
00:19:10,816 --> 00:19:14,736
necessarily mean
that you have to go
430
00:19:12,859 --> 00:19:16,238
and purchase a house
and lock yourself away
431
00:19:16,238 --> 00:19:19,532
for the pure shy,
well, it's an investment
432
00:19:18,156 --> 00:19:20,826
and I get it.
It is an investment.
433
00:19:20,826 --> 00:19:24,121
It's obviously a very
safe, proven strategy.
434
00:19:24,121 --> 00:19:27,165
And yes, you can you can see
the clients in some things,
435
00:19:27,165 --> 00:19:29,542
but you can make a good
client for the reason of
436
00:19:29,542 --> 00:19:33,087
okay, assets in general,
probably not going to just
437
00:19:30,751 --> 00:19:36,008
absolutely get decimated
in comparison
438
00:19:33,087 --> 00:19:36,424
to other things. Fine.
But, you know,
439
00:19:36,424 --> 00:19:39,553
you can very simply rent out in
a place as you're
440
00:19:38,259 --> 00:19:42,181
talking about that
you really want to live in and
441
00:19:42,181 --> 00:19:45,642
don't invest the extra
that you might have
442
00:19:44,307 --> 00:19:47,435
had locked away or something else
into other ways
443
00:19:47,435 --> 00:19:50,521
and then recoup that money back.
I'm not sure you can do that.
444
00:19:50,521 --> 00:19:55,736
So I wouldn't say that
those other
445
00:19:53,317 --> 00:19:57,153
variables are important
and they might be so
446
00:19:55,736 --> 00:19:58,989
important that you kind of
deviate away from buying a house,
447
00:19:58,989 --> 00:20:01,240
buying the place
to just living in the area
448
00:20:01,240 --> 00:20:05,077
because those things are
a higher attribute to you. Yeah,
449
00:20:05,077 --> 00:20:06,747
I'll talk about the
investment side of things
450
00:20:06,747 --> 00:20:09,374
because that's that's something
I can add, which is,
451
00:20:09,374 --> 00:20:11,335
you know, why is Kyran
never owned a house?
452
00:20:11,335 --> 00:20:16,131
Why is they never owned property?
Why is he not even gotten
453
00:20:12,461 --> 00:20:19,218
close to it?
The closest I've gotten to
454
00:20:16,214 --> 00:20:23,137
anything was I listened
to probably five episodes
455
00:20:19,218 --> 00:20:25,641
of the Property Couch,
which is a podcast,
456
00:20:23,262 --> 00:20:28,644
an Australian podcast.
You would touch upon
457
00:20:25,641 --> 00:20:30,144
that later on, like. Come on,
the other guy's name is.
458
00:20:30,144 --> 00:20:31,605
And you should know
you've listened to a lot.
459
00:20:31,605 --> 00:20:33,356
Of things, so a lot of
that's. Embarrassing.
460
00:20:33,356 --> 00:20:36,234
I can't remember. That's,
that's pretty bad. Didn't
461
00:20:36,317 --> 00:20:39,779
look it up.
Got to call him out if,
462
00:20:37,861 --> 00:20:44,326
if you're doing that. But I'm
sorry I've all I've gotten
463
00:20:41,240 --> 00:20:45,285
here is a negatives
list and negatives
464
00:20:45,285 --> 00:20:50,164
and when I was mentioning before
and you know one thing
465
00:20:47,162 --> 00:20:53,376
like in terms of safeness
of your investment, I think that
466
00:20:53,376 --> 00:20:56,630
rough list ordering I was
saying before was price.
467
00:20:56,630 --> 00:20:59,715
All the way of. Of.
Pricing it all the way
468
00:20:58,006 --> 00:21:03,511
and Ben Kingsley yeah.
Holloway or hold it. All the. Way
469
00:21:00,549 --> 00:21:04,387
Okay sure Well.
I'll I'll have to double
470
00:21:04,387 --> 00:21:07,557
check that too as a as like post
I'm not sure, although I do I.
471
00:21:07,557 --> 00:21:09,934
Look okay. Okay.
All right. There you go.
472
00:21:09,934 --> 00:21:14,272
So in terms of,
you know, like cash bonds,
473
00:21:14,355 --> 00:21:18,777
real estate stocks,
that sort of thing, it's I think
474
00:21:18,777 --> 00:21:22,071
when you say safe, it's
usually on the terms
475
00:21:19,903 --> 00:21:22,823
of a couple of years.
You know, if you buy it
476
00:21:22,823 --> 00:21:24,865
and then you hold it
a couple of years,
477
00:21:24,865 --> 00:21:27,368
what's the likelihood
it will have gone down? You know,
478
00:21:27,368 --> 00:21:29,621
it was stocks
that happens all the time
479
00:21:29,621 --> 00:21:33,583
and tell me individual ones.
And that's why if you
480
00:21:31,623 --> 00:21:35,585
group it together as a,
you know, an ETF, it's
481
00:21:33,583 --> 00:21:38,922
probably a bit more safer.
But even that can go down,
482
00:21:35,585 --> 00:21:40,632
whereas real estate
has this air of, you know,
483
00:21:40,632 --> 00:21:43,343
never really crashing
until it does, you know,
484
00:21:43,343 --> 00:21:45,636
it's all it always goes up
until it doesn't.
485
00:21:45,636 --> 00:21:50,392
And once again, there's a
Australian housing crisis
486
00:21:47,722 --> 00:21:51,643
which we'll talk about
after Boostagram Lounge.
487
00:21:51,643 --> 00:21:54,770
But so my, my main points
here on the negatives
488
00:21:54,770 --> 00:22:00,359
of property investing
unless you can get it
489
00:21:57,566 --> 00:22:01,778
positively geared quickly.
So this is getting to the point
490
00:22:01,778 --> 00:22:05,615
where your mortgage
repayments. Are.
491
00:22:05,699 --> 00:22:09,786
Less than the payments
of rent coming in,
492
00:22:09,869 --> 00:22:12,455
you're pretty much locked
into full time work. Is there
493
00:22:12,455 --> 00:22:14,415
is there any way
that you could not
494
00:22:14,415 --> 00:22:18,252
have full time work and do that?
Because I've looked before it,
495
00:22:18,252 --> 00:22:22,214
you know, imagine you build up
a stack of wealth
496
00:22:20,047 --> 00:22:24,259
like I have and it's
kind of like a nest egg.
497
00:22:24,259 --> 00:22:26,178
I don't think
banks are very friendly
498
00:22:26,178 --> 00:22:28,262
in terms of lending out
to people like me.
499
00:22:28,262 --> 00:22:32,183
There seems to be something of
even if you can prove
500
00:22:29,972 --> 00:22:34,019
that you've got
like cash on hand,
501
00:22:34,019 --> 00:22:36,855
that they're not interested,
they need to see that you have
502
00:22:36,855 --> 00:22:40,776
these recurring payments.
So so that's just one thing
503
00:22:40,776 --> 00:22:44,904
I've noticed personally,
which was you need to be
504
00:22:42,943 --> 00:22:48,616
you kind of locking yourself
into full time work or a
505
00:22:48,700 --> 00:22:52,244
I don't even think there
that impressed with
506
00:22:50,493 --> 00:22:53,579
like dividends coming in.
It seems to be like a job.
507
00:22:53,579 --> 00:22:58,710
Yeah, I disagree. I disagree.
Well, let me let me say it
508
00:22:56,540 --> 00:23:00,921
this way. I don't think it's
what you're saying.
509
00:23:00,921 --> 00:23:04,508
A job is a very
traditional view, I'd say night.
510
00:23:04,508 --> 00:23:08,345
What a bank,
what a car institution would need
511
00:23:06,384 --> 00:23:10,305
is recurring income.
Okay, Now the recurring
512
00:23:08,345 --> 00:23:11,890
can be a business.
Yeah, you can be a job.
513
00:23:11,890 --> 00:23:13,808
It could just be a lot of
other rental properties.
514
00:23:13,808 --> 00:23:15,352
Gain your income
if you've got lots of
515
00:23:15,352 --> 00:23:16,685
I mean, obviously
we're talking about this
516
00:23:16,685 --> 00:23:18,980
like obviously top
percent people,
517
00:23:18,980 --> 00:23:20,773
but if you got lots of rent
coming in from properties,
518
00:23:20,773 --> 00:23:23,943
you can up shorts out
and get loans because you've got
519
00:23:22,358 --> 00:23:25,237
income coming in. Yeah.
Again, think about you go
520
00:23:25,237 --> 00:23:27,029
think about it more so in the
at least from Australia.
521
00:23:27,029 --> 00:23:30,075
But it just happens
worldwide in the way
522
00:23:27,696 --> 00:23:32,827
the taxation works is
what you would set up
523
00:23:30,075 --> 00:23:34,203
as your income from a taxation
perspective,
524
00:23:34,203 --> 00:23:36,080
whether you're a business,
whether you're partnership,
525
00:23:36,080 --> 00:23:38,500
whether an individual
sole trader, whatever
526
00:23:38,500 --> 00:23:41,502
that is a determining
factor that would go
527
00:23:41,502 --> 00:23:44,088
same thing as from a bank
perspective. Okay, cool.
528
00:23:44,088 --> 00:23:46,715
They can pay this
and from a society perspective
529
00:23:46,715 --> 00:23:49,510
CO That is a kind
of repayment structure
530
00:23:49,510 --> 00:23:51,596
that we could see
being repaid for an asset.
531
00:23:51,596 --> 00:23:54,766
Yeah. Yep, yep.
I should have said that.
532
00:23:52,596 --> 00:23:56,934
I was just generalising.
For most people.
533
00:23:54,766 --> 00:23:58,436
It will be a job.
Is their their main income
534
00:23:58,436 --> 00:24:01,440
or sole income
that that's the thing.
535
00:24:01,440 --> 00:24:05,734
And so yeah, I just found that
and my situation
536
00:24:03,525 --> 00:24:06,944
is pretty unique.
I'll grant that.
537
00:24:06,944 --> 00:24:10,323
And I don't know, it's,
it's hard to say. Sometimes
538
00:24:08,989 --> 00:24:11,324
I feel super unique
and then other times and like,
539
00:24:11,324 --> 00:24:13,034
am I just the
normal person out here?
540
00:24:13,034 --> 00:24:15,244
And we're all just
kind of like spread out
541
00:24:15,244 --> 00:24:18,205
and you don't feel it,
but in any case,
542
00:24:18,205 --> 00:24:21,835
that was one thing I noticed,
especially when
543
00:24:19,332 --> 00:24:25,881
I wanted to go travelling and I,
I had some like slight thoughts
544
00:24:25,881 --> 00:24:29,342
when I, especially
when I was earning a lot of money
545
00:24:27,673 --> 00:24:32,887
working in mining and I was just
investigating stocks
546
00:24:30,634 --> 00:24:34,638
and getting hammered.
Holy shit, I was in the
547
00:24:32,887 --> 00:24:35,222
red for a while.
I was like, Well,
548
00:24:35,222 --> 00:24:37,392
this is not working for
me, so great.
549
00:24:37,392 --> 00:24:43,230
Maybe it would be good to
invest in property
550
00:24:39,935 --> 00:24:46,233
or something like I, I
Yeah, I had, I had enough
551
00:24:43,315 --> 00:24:47,234
income where it was like,
I can really do,
552
00:24:47,234 --> 00:24:50,946
I can do whatever the hell
I want, essentially. And,
553
00:24:51,155 --> 00:24:53,115
and when I was just
thinking about
554
00:24:53,115 --> 00:24:58,913
travelling in my home,
just the idea of having
555
00:24:55,535 --> 00:25:00,999
a property really was
it was almost like a
556
00:24:58,997 --> 00:25:03,084
locking in sort of thing.
Now I know you can
557
00:25:03,084 --> 00:25:07,130
buy a property elsewhere
in the country and you can get
558
00:25:05,420 --> 00:25:09,590
someone else to manage it
so you don't have to be in
559
00:25:07,130 --> 00:25:12,594
the same location as it.
But it did always have
560
00:25:09,590 --> 00:25:15,055
this feel to me of if you do,
if you're doing that,
561
00:25:13,428 --> 00:25:18,141
then you're just getting
all these added complexities
562
00:25:18,224 --> 00:25:23,646
in terms of the management,
which feels more than other
563
00:25:22,061 --> 00:25:25,105
financial instruments.
Even if you've got
564
00:25:23,646 --> 00:25:27,275
a property manager,
the amount of times
565
00:25:25,105 --> 00:25:29,277
you've told me about this
property manager doing this
566
00:25:29,277 --> 00:25:32,446
or coming to you for this thing,
or you have to be the one
567
00:25:30,612 --> 00:25:33,405
to decide about what
we're going to do here,
568
00:25:33,405 --> 00:25:37,536
or this hidden expense comes up.
And it's more than
569
00:25:34,990 --> 00:25:38,787
your general investment.
Yeah, yeah. 100%.
570
00:25:38,787 --> 00:25:41,498
So if you buy a stock,
you don't have to go
571
00:25:41,498 --> 00:25:43,208
to the annual
general meeting. It's you.
572
00:25:43,208 --> 00:25:45,710
You don't have to vote.
You don't have to
573
00:25:45,710 --> 00:25:48,462
have to do anything
like it is kind of cancer.
574
00:25:48,462 --> 00:25:53,009
Set it and forget it.
Which seemed very stressful and
575
00:25:53,009 --> 00:25:58,181
that sort of thing. Once again,
you can get bit more, it's safer
576
00:25:58,181 --> 00:26:02,644
and in some ways
how you want to do that and yeah,
577
00:26:00,933 --> 00:26:08,148
it was just for me,
probably the biggest thing of why
578
00:26:03,561 --> 00:26:10,277
I would not buy it many
why I didn't buy
579
00:26:08,232 --> 00:26:13,445
any property in the past
and why I probably won't
580
00:26:10,277 --> 00:26:17,409
for a while to come is
just a very illiquid
581
00:26:13,445 --> 00:26:20,202
asset, buying and holding.
If you if you're trying
582
00:26:17,409 --> 00:26:22,663
to flip houses,
there's there's there's
583
00:26:20,202 --> 00:26:24,583
some ways around it.
I know my uncle
584
00:26:22,663 --> 00:26:26,542
did this thing where
I think he was taking it.
585
00:26:26,542 --> 00:26:31,881
It was not the first Home Buyers
Act or something,
586
00:26:30,337 --> 00:26:33,799
but it was basically
I could buy a house,
587
00:26:31,881 --> 00:26:35,676
live in it for a year,
and then he could resell it on
588
00:26:35,676 --> 00:26:39,888
and there would be some
discount from doing that. I don't
589
00:26:37,846 --> 00:26:42,224
know what it's called
unless you're
590
00:26:39,972 --> 00:26:44,435
doing something like that. Yeah,
you got to hold onto it
591
00:26:44,435 --> 00:26:47,980
because you just get
reamed out the arse
592
00:26:45,144 --> 00:26:50,482
with stamp duty and
and all those sorts of
593
00:26:47,980 --> 00:26:51,526
things. So very illiquid.
You want to have, you know,
594
00:26:51,526 --> 00:26:55,029
some financial freedom
or maybe even some social freedom
595
00:26:55,029 --> 00:26:58,575
to be able to move where
you want in the world. That's
596
00:26:57,531 --> 00:27:00,285
that's just one of mine.
And my, my coetzee's
597
00:27:00,285 --> 00:27:01,411
like just have to think
about that.
598
00:27:01,411 --> 00:27:03,371
You're locking yourself
into a something
599
00:27:03,371 --> 00:27:06,458
for a fair amount of time.
Yeah. I mean. Potentially
600
00:27:05,332 --> 00:27:08,084
locking yourself into a job,
potentially locking us up,
601
00:27:08,084 --> 00:27:11,046
which is then locking
you into a country potentially
602
00:27:11,046 --> 00:27:13,298
if you don't have
a digital nomads
603
00:27:13,298 --> 00:27:15,342
sort of lifestyle. Sure.
Good point. I mean,
604
00:27:15,342 --> 00:27:17,926
I think there are set ups
to a lot of those things
605
00:27:17,926 --> 00:27:19,929
from what you're saying
that you could set up again,
606
00:27:19,929 --> 00:27:22,057
I guess in
speaking to this podcast,
607
00:27:22,057 --> 00:27:24,099
there's probably effective
takeaways.
608
00:27:24,099 --> 00:27:25,184
I'm not going to be saying
to people like,
609
00:27:25,184 --> 00:27:28,896
well, you know, in ten,
15, 20, 50 properties, you know,
610
00:27:27,936 --> 00:27:30,731
you could do this. You can't.
I think anyone listening
611
00:27:29,521 --> 00:27:32,442
to this podcast
right now is in a position
612
00:27:32,442 --> 00:27:35,737
nor may get that position.
That's cool. But I would say,
613
00:27:35,737 --> 00:27:38,781
okay, if you're looking at
property as an investment
614
00:27:36,528 --> 00:27:41,076
and really
that's the only percentage
615
00:27:38,781 --> 00:27:42,451
of the variable. And if you have
a family, you're doing it.
616
00:27:42,451 --> 00:27:44,828
So you know, as an individual
you want to know, okay, I'm
617
00:27:44,828 --> 00:27:46,580
going to buy this
because of whatever reason
618
00:27:46,580 --> 00:27:48,540
I'd say just rethinking
it should be a balance.
619
00:27:48,540 --> 00:27:50,710
There should be
a balance of that 50%
620
00:27:50,710 --> 00:27:53,505
probably in the investment
side for sure location.
621
00:27:53,505 --> 00:27:55,089
What it means in terms of,
you know, it's
622
00:27:55,089 --> 00:27:59,426
I'm looking at things like
DC area gentrified, gentrified
623
00:27:59,426 --> 00:28:02,806
or not will a gentrified
is the surrounding
624
00:28:01,054 --> 00:28:04,473
suburbs, you know good suburbs
or declining suburbs.
625
00:28:04,473 --> 00:28:07,727
There's going to be this
in terms of, you know, location.
626
00:28:07,727 --> 00:28:10,689
There's a couple of things
around location, but one thing
627
00:28:08,894 --> 00:28:13,775
you look at Sydney, at least here
in Australia, you know, quite an
628
00:28:11,772 --> 00:28:16,027
expensive property market.
It is going up and up and up and
629
00:28:16,027 --> 00:28:17,987
we've all talked about it
more on the big screen
630
00:28:17,987 --> 00:28:19,905
after the mainstream launch.
But it's, you know,
631
00:28:19,905 --> 00:28:22,784
looking at, well, can
something be landlocked
632
00:28:22,784 --> 00:28:24,702
or can it be expanded?
And if it can expand, it does.
633
00:28:24,702 --> 00:28:26,704
I mean that the valuation
of the properties
634
00:28:26,704 --> 00:28:28,623
is going to stay steady
because they're going to go
635
00:28:28,623 --> 00:28:30,834
through says all these things
that you can obviously look at.
636
00:28:30,834 --> 00:28:32,501
But you have to weigh
that up with, Well,
637
00:28:32,501 --> 00:28:34,546
school catchment is close
to my work,
638
00:28:34,546 --> 00:28:36,588
all this sort of things
because they become
639
00:28:36,588 --> 00:28:39,092
really, really important
and you can be, you know,
640
00:28:39,092 --> 00:28:41,219
you can be relatively wealthy,
you do whatever you want,
641
00:28:41,219 --> 00:28:42,971
but if you're 5 hours out
of, you know,
642
00:28:42,971 --> 00:28:44,596
living somewhere and bump
I out of high
643
00:28:44,596 --> 00:28:47,767
and you don't even know
where to get to, well, it's
644
00:28:46,057 --> 00:28:48,934
a pretty shitty existence
if that's not what you want.
645
00:28:48,934 --> 00:28:51,938
So you'll have to kind of
balance it out with that
646
00:28:52,020 --> 00:28:55,482
very thing as well.
The last one in
647
00:28:52,814 --> 00:28:58,486
the investment was
so you master spreadsheet
648
00:28:55,482 --> 00:29:00,779
all these tabs,
all these calculations,
649
00:28:58,569 --> 00:29:01,823
what if this happens?
I'll put this in, put here,
650
00:29:01,823 --> 00:29:07,119
test this out too, so that
you've now
651
00:29:04,491 --> 00:29:08,829
had that for a fair while. 2016.
So that's getting what,
652
00:29:08,829 --> 00:29:14,126
seven years, maybe eight years.
What's how accurate is it in
653
00:29:14,126 --> 00:29:17,422
terms of its prediction
and ability?
654
00:29:17,505 --> 00:29:22,218
Because last I remember
talking with you particularly was
655
00:29:19,840 --> 00:29:24,220
was around Harvard
and that investment property
656
00:29:24,220 --> 00:29:26,306
had basically
not gone up in price.
657
00:29:26,306 --> 00:29:28,599
And so I'm guessing
that was not part of your
658
00:29:28,599 --> 00:29:32,770
it was estimate decision making.
It wasn't. Now, the other things
659
00:29:31,185 --> 00:29:34,897
have changed, and I know rent on
it has gone up crazy,
660
00:29:34,897 --> 00:29:38,067
so maybe that compensates
and I don't know what
661
00:29:36,398 --> 00:29:41,069
the house and like
the pricing is now, but how
662
00:29:41,112 --> 00:29:45,325
how good
is the predictive ability
663
00:29:41,653 --> 00:29:46,910
do you think of of rent
while of your master spreadsheet
664
00:29:46,910 --> 00:29:48,702
and then just in general
in terms of
665
00:29:48,702 --> 00:29:54,041
renting and investing and.
Well, property
666
00:29:51,455 --> 00:29:55,835
just in general, the
the actual spreadsheets
667
00:29:54,041 --> 00:29:57,127
on anything
algorithmically beautiful
668
00:29:57,127 --> 00:30:00,464
or is using
is a general percentage
669
00:30:00,507 --> 00:30:03,884
of capital gain return
over X amount of years.
670
00:30:03,884 --> 00:30:07,305
And as it goes on,
say the longer time goes,
671
00:30:07,387 --> 00:30:09,516
the better the predictions
going to be because.
672
00:30:09,516 --> 00:30:11,099
It is getting closer.
To is getting closer.
673
00:30:11,099 --> 00:30:14,561
So if actually look at the
what the predicted ten year
674
00:30:14,561 --> 00:30:19,733
mark is of the properties worth,
the property is now approaching
675
00:30:17,731 --> 00:30:20,609
that on its way out there.
So it's kind of like, okay,
676
00:30:20,609 --> 00:30:23,238
it's on to get close.
You're right. Two years ago
677
00:30:21,778 --> 00:30:24,905
I was like, man,
this is not even close
678
00:30:23,238 --> 00:30:27,115
to getting close.
But now it's on the track
679
00:30:24,905 --> 00:30:29,701
to what's up.
So that's like, okay,
680
00:30:27,115 --> 00:30:32,204
cool. That's, that's nice.
So that perspective, it is good.
681
00:30:32,204 --> 00:30:35,708
More so specifically for me,
I'm not looking
682
00:30:33,580 --> 00:30:40,255
a little tracking it. Well,
that spreadsheet is
683
00:30:36,667 --> 00:30:42,089
not so much a capital key
going back to capital
684
00:30:40,296 --> 00:30:44,800
in operational. That's only the
the purpose of the spreadsheet.
685
00:30:44,800 --> 00:30:46,928
All those numbers,
not for capital purposes.
686
00:30:46,928 --> 00:30:50,056
So what I mean, I'm
not that property
687
00:30:50,056 --> 00:30:51,891
when I bought it
I'll tell you right now
688
00:30:51,891 --> 00:30:55,561
we once again in 2016
we actually had another property
689
00:30:55,561 --> 00:30:58,355
that we actually won first
and we pulled out of that one.
690
00:30:58,355 --> 00:31:04,444
Had I held that property,
that would have gone up
691
00:31:01,358 --> 00:31:06,655
2.7 times since that time.
That has, as it
692
00:31:04,528 --> 00:31:09,867
is that I could have, it was one,
I'll run out at 1.4.
693
00:31:09,951 --> 00:31:15,582
But so huge differences
now it's at this purpose.
694
00:31:15,582 --> 00:31:18,792
I lived in it multiple times.
It was really fun to have.
695
00:31:18,792 --> 00:31:20,752
There was a lot of good
it's great great know
696
00:31:20,752 --> 00:31:22,547
I'm I don't have that
in the other place.
697
00:31:22,547 --> 00:31:25,299
And so again this time. Since
I was the other place.
698
00:31:25,299 --> 00:31:29,053
There's all the places
like in red Redland by far away
699
00:31:26,634 --> 00:31:30,430
not close to the city
at least here, Brisbane, it's
700
00:31:30,430 --> 00:31:32,015
like a half hour drive.
It would have been
701
00:31:32,015 --> 00:31:33,557
a completely different
lifestyle. Out. Place.
702
00:31:33,557 --> 00:31:36,435
So you think about these things
and you go, okay,
703
00:31:36,435 --> 00:31:39,230
for me, at the very least
as it goes on, I'm not.
704
00:31:39,230 --> 00:31:41,023
And this at least comes
more of a pet.
705
00:31:41,023 --> 00:31:46,237
Personal thought is
properties for me
706
00:31:42,650 --> 00:31:48,280
are not overwhelmingly
being looked at
707
00:31:46,237 --> 00:31:49,990
as a capital perspective.
I'm much more on the
708
00:31:48,280 --> 00:31:50,741
operational perspective.
And so the spreadsheets
709
00:31:50,741 --> 00:31:52,576
are much more aligned
to operational.
710
00:31:52,576 --> 00:31:56,830
Okay, month to month,
what does property need
711
00:31:54,953 --> 00:31:57,749
from month perspective?
What do I need to be putting in
712
00:31:57,749 --> 00:31:59,500
from a month perspective?
How does it work out
713
00:31:59,500 --> 00:32:03,503
from a taxation strategy
perspective to if I can make
714
00:32:02,170 --> 00:32:06,507
that on a cadence
and it can just go on
715
00:32:03,503 --> 00:32:07,634
on its merry way forever?
That's what I wanted to do,
716
00:32:07,634 --> 00:32:09,594
to be personally honest. Maybe.
Maybe a little bit.
717
00:32:09,594 --> 00:32:12,763
Yeah, we'll look at it here.
This in future at some point.
718
00:32:12,763 --> 00:32:14,557
You know, one of the plans
talking to my partner
719
00:32:14,557 --> 00:32:18,394
is, you know that property, man,
I could be like
720
00:32:16,433 --> 00:32:19,269
the future place for her
when she goes to study
721
00:32:19,269 --> 00:32:20,855
or something like that,
if she wants to use it.
722
00:32:20,855 --> 00:32:23,691
Yeah, that's the thing.
So for me it's like, okay,
723
00:32:23,691 --> 00:32:25,359
it doesn't matter
what the valuation off,
724
00:32:25,359 --> 00:32:28,654
because of course the more
from a capital perspective and a
725
00:32:28,654 --> 00:32:31,156
you know, leading into
the point of you saying,
726
00:32:31,240 --> 00:32:34,576
sure, very liquid, but you
can also extract
727
00:32:33,076 --> 00:32:35,577
a lot of money out them
if the capital comes in
728
00:32:35,577 --> 00:32:37,872
and you can use that money
to do other things
729
00:32:37,872 --> 00:32:40,415
so that obviously
it's a liquid asset,
730
00:32:40,415 --> 00:32:43,044
but doesn't mean that
the funder a liquid
731
00:32:41,334 --> 00:32:45,337
all the time. Yeah. Which what
my dad has done too.
732
00:32:45,337 --> 00:32:46,838
So it's variations
to that as well
733
00:32:46,838 --> 00:32:49,717
obviously be aware of it
when you own a property
734
00:32:49,717 --> 00:32:53,596
but then but then for me
I've got to do spreadsheets
735
00:32:51,510 --> 00:32:55,682
much operational. Yeah. And yeah,
that master spreadsheet,
736
00:32:55,682 --> 00:32:59,268
it focuses all the properties,
all income, all expenses, all
737
00:32:59,268 --> 00:33:01,395
like all these little details,
how exact that is.
738
00:33:01,395 --> 00:33:05,692
I probably I'd be off like 15,
15, 10% month
739
00:33:03,105 --> 00:33:07,567
to month B somewhere.
Yeah, Yeah. So.
740
00:33:07,567 --> 00:33:10,278
All right, thank you.
Want to jump into
741
00:33:08,236 --> 00:33:11,571
the boostagram lounge.
So while once
742
00:33:11,571 --> 00:33:14,241
looking up for the notes,
we can thank people.
743
00:33:14,241 --> 00:33:16,160
There's actually a couple
of people on in the live chat.
744
00:33:16,160 --> 00:33:19,538
So I see Lucas here.
I see a C West side baby.
745
00:33:19,538 --> 00:33:23,792
The proud. Dog. The proud
take your dog for a walk.
746
00:33:23,792 --> 00:33:26,421
He is mate,
and he actually lives in
747
00:33:26,421 --> 00:33:30,048
what is known as the Million
Dollar Mud Hut, which is
748
00:33:30,133 --> 00:33:34,429
the good thing about
property is like
749
00:33:30,758 --> 00:33:38,141
it can be a weird. Yeah we.
It's a weird place
750
00:33:36,305 --> 00:33:40,351
and it's a it's
a very weird odd place. But yeah,
751
00:33:40,351 --> 00:33:44,230
the in like finance wise
it's still done very well.
752
00:33:44,271 --> 00:33:45,815
So that's,
that's one of the things
753
00:33:45,815 --> 00:33:49,693
which is kind of fun though.
It's funny, but like I said,
754
00:33:49,693 --> 00:33:51,612
with great wealth comes
great responsibility.
755
00:33:51,612 --> 00:33:54,740
It also binds you
to a location for me not knowing
756
00:33:53,698 --> 00:33:59,746
where I will be in five years,
it is a barrier. So yeah, that's
757
00:33:56,826 --> 00:34:04,000
that's one of the things
actually, that's why
758
00:33:59,746 --> 00:34:05,417
I've gotten so much into
like cryptocurrencies.
759
00:34:05,417 --> 00:34:09,672
Bitcoin in particular
is the ability to go
760
00:34:09,672 --> 00:34:13,342
wherever you want with it
and all you need to do
761
00:34:10,672 --> 00:34:16,344
is from the 12 words,
which I don't do
762
00:34:13,342 --> 00:34:19,097
because that's my yeah,
this noggin. I wouldn't
763
00:34:17,304 --> 00:34:21,976
be quick to get into that.
So I've got other ways
764
00:34:19,097 --> 00:34:25,271
of securing those words.
But yeah, I, I really like
765
00:34:21,976 --> 00:34:27,856
that a bit on that.
Even just the thought
766
00:34:25,480 --> 00:34:30,400
of being like I could, you know,
Satoshi Nakamoto,
767
00:34:30,400 --> 00:34:33,195
it could just have 12 words,
whoever that person is,
768
00:34:33,195 --> 00:34:38,201
and they could have
more wealth than anyone
769
00:34:38,284 --> 00:34:40,494
ever, ever. I don't I don't
know how much is worth
770
00:34:40,494 --> 00:34:45,625
now, but let's say Bitcoin rises.
I think at the top of the price
771
00:34:42,954 --> 00:34:48,585
it was 86 billion. Yeah.
So not more wealth
772
00:34:46,458 --> 00:34:51,547
than anyone ever.
But you know, goes up
773
00:34:48,585 --> 00:34:55,092
another five times,
which is certainly doable
774
00:34:51,797 --> 00:34:56,969
foreseeable. You know that's more
wealth than anyone ever.
775
00:34:56,969 --> 00:34:59,514
And be like.
Yeah well walking around
776
00:34:59,514 --> 00:35:04,936
yeah I thought maybe it's a.
It's. It's more wealth
777
00:35:02,266 --> 00:35:06,186
than anyone ever.
And recently as well I'll.
778
00:35:06,186 --> 00:35:11,900
Just say as it stands against the
Yeah the shareable information
779
00:35:11,900 --> 00:35:14,778
I've seen those things
I think Elon Musk the guy.
780
00:35:14,778 --> 00:35:18,574
Family that some people.
Will like just sure they've got
781
00:35:16,155 --> 00:35:19,574
you can see financially
got all this amount
782
00:35:19,574 --> 00:35:20,909
of billions of dollars
or whatever. Yeah.
783
00:35:20,909 --> 00:35:23,579
But then you look into
big Saudi families in them
784
00:35:23,579 --> 00:35:26,456
but they're
not sharing that. Yeah.
785
00:35:26,541 --> 00:35:29,918
Plenty of money like these
people are Big rolling.
786
00:35:29,960 --> 00:35:33,797
Good point. The only case,
Satoshi Nakamoto,
787
00:35:32,380 --> 00:35:36,217
thank you very much.
So the boosta gram said
788
00:35:34,507 --> 00:35:38,594
this is where we think
everyone who has helped
789
00:35:36,217 --> 00:35:40,137
to support the show.
We really love
790
00:35:38,594 --> 00:35:41,054
these live messages
coming in like this.
791
00:35:41,054 --> 00:35:43,807
And then we also love
getting a message present.
792
00:35:43,807 --> 00:35:46,434
So this isn't a reaction
usually to
793
00:35:46,434 --> 00:35:50,231
some of our past content.
And you can do this
794
00:35:47,936 --> 00:35:52,108
by just going to a
a podcasting app, a newer one.
795
00:35:52,108 --> 00:35:55,485
So memo podcast, dot
com slash support
796
00:35:55,485 --> 00:35:58,989
and I've gotten a list
there of of the list
797
00:35:58,989 --> 00:36:02,827
and links of apps
where you can find out
798
00:36:00,490 --> 00:36:04,286
this very show on there
and you can send in a boostagram
799
00:36:04,286 --> 00:36:07,248
which is a message with money
attached pretty simple
800
00:36:07,248 --> 00:36:10,168
and we you know
the brilliant thing about this is
801
00:36:10,168 --> 00:36:12,460
you can just go to any app
and and try it out
802
00:36:12,460 --> 00:36:16,548
and you'll read off some of these
and react to them. So absolutely.
803
00:36:16,548 --> 00:36:21,344
So we've got the dependable
Dave Jones weekly boots of the
804
00:36:18,300 --> 00:36:22,637
Memorial Nation 12,112. That's
that's and using cron
805
00:36:22,637 --> 00:36:24,389
thank you very much
Dave as always.
806
00:36:24,389 --> 00:36:30,938
And then we've got Peter
3333 using fountain. I love it.
807
00:36:30,938 --> 00:36:33,523
So, Peter, you've been. To Fiji,
haven't you? Happy?
808
00:36:33,523 --> 00:36:37,485
What was it like to.
Well, I only really stuck
809
00:36:34,900 --> 00:36:39,322
around to dinner then.
True Island, I think, is
810
00:36:37,485 --> 00:36:41,865
how you pronounce it.
It's got to the What's the west.
811
00:36:41,865 --> 00:36:45,244
Yeah. Noddy and did go
into Noddy a little bit.
812
00:36:45,244 --> 00:36:49,331
Didn't like it then our island
didn't like it was very expensive
813
00:36:49,331 --> 00:36:55,170
also got very sick.
It was also the year
814
00:36:50,583 --> 00:36:57,547
that Fiji won the rugby
World Cup with a rugby like touch
815
00:36:57,547 --> 00:37:01,344
some of that and people was going
bananas like people were
816
00:36:58,925 --> 00:37:03,429
celebrating so hardcore.
Yeah, which is lovely.
817
00:37:01,344 --> 00:37:06,431
To see in a scary way.
And scary way. I think I saw
818
00:37:04,012 --> 00:37:08,851
people, hostel
staff members at the place
819
00:37:06,431 --> 00:37:12,771
we were staying.
I take off on golf carts
820
00:37:08,851 --> 00:37:13,898
and just fly over heels. I was
like, What's going on?
821
00:37:13,898 --> 00:37:18,527
It was weird.
Yeah, yeah, it was weird
822
00:37:15,233 --> 00:37:20,987
because like, I liked it.
Nothing better
823
00:37:18,610 --> 00:37:21,905
than the Gulf Coast trip.
Maybe I didn't go to, like,
824
00:37:21,905 --> 00:37:25,826
the correct places in Fiji.
I've heard some good things about
825
00:37:24,115 --> 00:37:27,119
some of the other islands
that can get really,
826
00:37:25,826 --> 00:37:29,956
really expensive.
Like, so I didn't go
827
00:37:29,956 --> 00:37:31,958
like out into the water
as much either.
828
00:37:31,958 --> 00:37:33,416
But you're not, you know,
like living like a.
829
00:37:33,416 --> 00:37:35,835
Local snorkelling is said
to be like amazing naked.
830
00:37:35,835 --> 00:37:36,963
You basically
just walk in straight
831
00:37:36,963 --> 00:37:38,213
to the water
and it's nice and warm.
832
00:37:38,213 --> 00:37:41,050
And so there's a lot of
things I didn't get to do.
833
00:37:41,050 --> 00:37:43,969
Mainly I was sick, man.
To had like barely
834
00:37:42,385 --> 00:37:45,846
any money during the time.
And you need a lot
835
00:37:43,969 --> 00:37:50,101
of money in those places.
I believe bottled water,
836
00:37:45,846 --> 00:37:52,186
drink a bottle of vodka,
I think like an equivalent
837
00:37:50,309 --> 00:37:56,148
of what it was.
But then 40 or 50 AUD
838
00:37:52,186 --> 00:37:59,025
was about $170 day in Fiji
just because of the place,
839
00:37:59,025 --> 00:38:01,695
the cost for exporting
of products and stuff like that.
840
00:38:01,695 --> 00:38:03,780
And I was like, man,
this is and that was
841
00:38:02,320 --> 00:38:05,615
basically everything.
So I think we subsumed ourselves
842
00:38:05,615 --> 00:38:08,119
with eating pizza
like twice a day
843
00:38:08,119 --> 00:38:09,619
just so we wouldn't
have to spend much money.
844
00:38:09,619 --> 00:38:13,958
Yeah, exactly.
But bitcoins, Bitcoins
845
00:38:11,163 --> 00:38:16,960
and so Peter was there
reacting to me saying,
846
00:38:13,958 --> 00:38:20,005
I'll shout PayPal tickets
to Fiji. So, I mean, it's
847
00:38:17,920 --> 00:38:21,090
much easier
if you're in Australia already.
848
00:38:21,090 --> 00:38:24,467
I'll show you tickets
from Australia. Yeah, very easy.
849
00:38:22,425 --> 00:38:25,760
And once Bitcoin. You're in
the US, we'll send
850
00:38:25,760 --> 00:38:31,726
it to Hawaii or something. Yeah.
I don't know what we'll
851
00:38:29,014 --> 00:38:33,351
do about what is on it.
I did check the PayPal just then,
852
00:38:33,351 --> 00:38:38,440
still nothing on the PayPal.
So if, if anyone wants to
853
00:38:34,686 --> 00:38:42,945
to partake in
sending us a payment
854
00:38:38,440 --> 00:38:44,195
not in satoshis but in.
Yeah. If you have money
855
00:38:43,028 --> 00:38:47,157
feel free. To do synthetic
fiat money. Feel free to do that
856
00:38:45,780 --> 00:38:51,119
as well.
And yeah, I think I'm all
857
00:38:47,157 --> 00:38:52,954
caught up on that as well
slightly less than we kind of
858
00:38:52,954 --> 00:38:54,581
have been getting in these
past couple of months.
859
00:38:54,581 --> 00:38:58,585
But understandable because where
I've been taking
860
00:38:56,916 --> 00:39:00,045
a little bit of a hiatus
from particularly
861
00:38:58,585 --> 00:39:02,422
the conversations and even
just like the regularity,
862
00:39:02,422 --> 00:39:07,844
what I can promise is there will
be more of these probably
863
00:39:04,300 --> 00:39:12,557
starting up late December
because I've already
864
00:39:07,927 --> 00:39:14,268
got one lot locked in with
a musician. Do you
865
00:39:13,309 --> 00:39:15,853
remember when I was saying
like I wanted
866
00:39:14,268 --> 00:39:19,106
to get a musician on to be able
to really know how bad Spotify is
867
00:39:19,106 --> 00:39:23,360
or is not fucking people over.
And yeah, I've got
868
00:39:20,690 --> 00:39:25,362
I've got one lined up
who is real into the value
869
00:39:23,360 --> 00:39:28,074
for value. Well,
so TJ, the real break.
870
00:39:28,074 --> 00:39:32,869
So did I tell you
about the Snoop Dogg.
871
00:39:32,952 --> 00:39:35,623
1 billion streams
for like 46 grand
872
00:39:35,623 --> 00:39:38,291
or something like that?
I think it might have been
873
00:39:36,581 --> 00:39:40,585
a billion streams.
Maybe it's maybe just like
874
00:39:38,291 --> 00:39:43,380
1 billion Ridiculous.
Like crazy crazy. Yeah. Yeah.
875
00:39:43,380 --> 00:39:46,300
Because, well, I mean,
I know Snoop
876
00:39:44,798 --> 00:39:49,762
Dogg's been very into,
like, the whole web3 world
877
00:39:46,300 --> 00:39:54,141
for a while, and I'm one
I mean, if he's he's
878
00:39:49,844 --> 00:39:57,103
getting that much for
4 billion like a billions
879
00:39:54,224 --> 00:40:00,146
big number, man.
Like, I calculated it out
880
00:39:57,103 --> 00:40:04,150
how much it was. Like 0.0.
no, it was like three
881
00:40:01,690 --> 00:40:07,028
or four zeros.
And then a number purpose stream.
882
00:40:07,028 --> 00:40:13,327
No, it no one in near close.
If it's a lot of the costs
883
00:40:08,947 --> 00:40:15,704
per mile of just various
advertising and places,
884
00:40:15,704 --> 00:40:18,373
they all kind of a
centred around this.
885
00:40:18,373 --> 00:40:21,210
It seems to be around
like $10, $20
886
00:40:21,210 --> 00:40:25,965
a lot of things are.
And when I deviate out of
887
00:40:22,585 --> 00:40:28,967
that, things go wrong.
So in podcasting it
888
00:40:25,965 --> 00:40:30,969
was getting up to like 100
and this was back in the era of
889
00:40:30,969 --> 00:40:33,556
a couple of years ago
for like Meghan Markle
890
00:40:33,556 --> 00:40:36,724
and Spotify was paying
big money for the Obamas
891
00:40:36,724 --> 00:40:38,811
and stuff like that.
And their costs cost by per
892
00:40:38,811 --> 00:40:42,690
thousand were all getting
really high and that was just
893
00:40:41,021 --> 00:40:46,402
unsustainable.
And you know, Spotify
894
00:40:42,690 --> 00:40:48,820
is paying for it now by
laying off tons of people
895
00:40:46,485 --> 00:40:49,905
and stuff like that. Correct.
And sorry,
896
00:40:49,905 --> 00:40:51,614
what I was just quickly
looking at, which is kind of
897
00:40:50,905 --> 00:40:54,367
interesting. As you you're saying
like 30040 is that.
898
00:40:54,367 --> 00:41:00,958
Yeah, this probably isn't
quite exactly. But one station
899
00:40:56,244 --> 00:41:03,210
is .00.0004. I guess it would be
Australian dollars. So, you know,
900
00:41:03,210 --> 00:41:05,336
it would be the equivalent
you know it's a whole make
901
00:41:05,336 --> 00:41:09,550
a thing is like well Snoop
Dogg talking basically
902
00:41:07,088 --> 00:41:11,802
that much from Spotify basically.
Every time someone listen
903
00:41:10,509 --> 00:41:13,512
to a song of his
and someone gave just one months
904
00:41:13,512 --> 00:41:14,762
that it would be
the equivalent and like
905
00:41:14,762 --> 00:41:16,431
can you imagine I'm on
one side of like nothing.
906
00:41:16,431 --> 00:41:18,934
Nothing. Yeah, yeah.
Not really interesting.
907
00:41:18,934 --> 00:41:21,896
Like concept of being like,
Hey you could top it over
908
00:41:19,726 --> 00:41:23,563
just one set. You're basically
getting the same amount. Yeah.
909
00:41:23,563 --> 00:41:27,233
And one side is not like,
you know, we as you're saying,
910
00:41:25,190 --> 00:41:29,820
you know, we're sending,
we give weekly support of 12,000
911
00:41:29,820 --> 00:41:33,199
might not be hot to send
get a set sent through by people
912
00:41:31,614 --> 00:41:34,449
who are listening to it.
I think in this next year or two
913
00:41:34,449 --> 00:41:36,494
there's going to be
some real interesting
914
00:41:36,494 --> 00:41:39,704
numbers where
people will be able to go,
915
00:41:39,788 --> 00:41:43,375
This is how much you haven't.
This is how much you know,
916
00:41:41,081 --> 00:41:45,585
if you could have a just
with one random person
917
00:41:43,375 --> 00:41:49,340
tuning in and sending
you like five 5000 SATs
918
00:41:45,585 --> 00:41:51,342
or something. Yeah, I think
they'll be some real
919
00:41:49,965 --> 00:41:53,469
interesting numbers
where you can check around
920
00:41:51,342 --> 00:41:57,139
and play and things like that.
And I'll probably be there
921
00:41:54,344 --> 00:41:58,264
doing it myself because
the value for value show
922
00:41:58,264 --> 00:42:02,228
do intend to kick off again
in mid-January as well,
923
00:42:02,228 --> 00:42:04,063
because a couple of things
come in for everyone.
924
00:42:04,063 --> 00:42:06,398
Just tune in
and look out for that.
925
00:42:06,398 --> 00:42:09,318
But one, the Australian
housing crisis. How far away,
926
00:42:09,318 --> 00:42:11,737
how far do you actually
you just bought at the
927
00:42:11,737 --> 00:42:18,284
at the peak of the housing
crisis here. At the peak. Well,
928
00:42:16,282 --> 00:42:20,119
so just context for this.
I don't know if it's because you
929
00:42:20,119 --> 00:42:25,626
so we have a joint
YouTube account which
930
00:42:21,371 --> 00:42:28,336
we used to like a host and
premium account. So no
931
00:42:26,501 --> 00:42:30,380
ads and stuff like that.
So when one searches up things.
932
00:42:30,380 --> 00:42:34,300
So sometimes as a partner,
I see, you know, baby
933
00:42:34,300 --> 00:42:37,262
circadian rhythm,
just asthma stuff
934
00:42:37,262 --> 00:42:39,306
and nobody like, okay,
well I can see I.
935
00:42:39,306 --> 00:42:42,393
Can only do Cocomelon.
Yeah, something like that.
936
00:42:42,393 --> 00:42:44,228
But a couple of videos
have been popping up
937
00:42:44,228 --> 00:42:48,440
recently for me
about Australian housing,
938
00:42:48,523 --> 00:42:54,280
just the Australian
housing crisis slash property
939
00:42:51,735 --> 00:42:56,614
in Australia. Okay.
Have you been looking. Up not
940
00:42:56,614 --> 00:42:59,952
to be is a you know,
have we been looking it up
941
00:42:58,449 --> 00:43:03,454
or something. I don't know.
But but this isn't just
942
00:43:00,702 --> 00:43:06,458
one. This has been two.
So that was one yesterday
943
00:43:03,454 --> 00:43:08,710
or the day before.
Maybe explainable by me
944
00:43:06,458 --> 00:43:13,757
putting up like the thumbnail
and then YouTube recommending
945
00:43:11,505 --> 00:43:16,969
this sort of stuff.
Yeah, and that's how
946
00:43:13,757 --> 00:43:21,431
these things sort of go.
But there was one. And so the one
947
00:43:18,429 --> 00:43:25,853
I was looking at recently as and
just a little bit before,
948
00:43:25,936 --> 00:43:27,813
where is it on here.
I was on the other count.
949
00:43:27,813 --> 00:43:32,150
Yeah, that'll be had fun.
It was basically
950
00:43:29,773 --> 00:43:33,485
like an American YouTuber
or a financial YouTuber.
951
00:43:33,485 --> 00:43:38,990
And it was, it was just
going on to like it. Why?
952
00:43:38,990 --> 00:43:42,369
Why the Australian housing
crisis? A bit
953
00:43:40,784 --> 00:43:44,871
bit of a random topic
to get on to for like here it is.
954
00:43:44,871 --> 00:43:47,541
So there's one from Bloomberg
Bloomberg Originals.
955
00:43:47,541 --> 00:43:51,085
This was two months ago.
Why Australia
956
00:43:49,418 --> 00:43:53,005
is Australia's housing
crisis is a warning
957
00:43:51,085 --> 00:43:58,052
for the world. my God,
there's Australia's
958
00:43:54,882 --> 00:43:59,302
housing crisis explained.
This was another one by S.F.
959
00:43:59,302 --> 00:44:04,141
Capital and the one I've watched
recently was
960
00:44:04,141 --> 00:44:10,063
if I quickly go into here.
History warning Australia's
961
00:44:07,061 --> 00:44:13,775
housing crisis explained
by this guy and Dragic.
962
00:44:13,775 --> 00:44:17,612
Jay, I take back that.
So a couple of days
963
00:44:16,110 --> 00:44:19,155
have been popping up. I was like,
All right, well
964
00:44:19,155 --> 00:44:21,574
if interesting enough,
I'll click on these
965
00:44:21,574 --> 00:44:25,536
1015 minute videos,
see what they like, and basically
966
00:44:25,536 --> 00:44:29,875
they're just saying
there's a bubble in Australia,
967
00:44:27,373 --> 00:44:31,335
so one or the other,
you're the property guru
968
00:44:29,875 --> 00:44:33,336
right here.
Is, is there an Australian
969
00:44:31,335 --> 00:44:34,838
housing crisis?
Are we in a bubble here
970
00:44:33,336 --> 00:44:36,673
in Australia? Well,
I find it interesting.
971
00:44:36,673 --> 00:44:40,427
It depends where you
how you, I think, approach
972
00:44:40,510 --> 00:44:44,639
that particular question,
or at least from what I've seen,
973
00:44:42,096 --> 00:44:48,518
is the. Aspect.
Of a bubble or at least
974
00:44:44,889 --> 00:44:50,353
the bubble nature of it,
at least a full property
975
00:44:50,353 --> 00:44:53,773
I feel like has been discussed
for such a long time. It's
976
00:44:51,355 --> 00:44:55,150
all, yes, such. A. Seems like
it's always in fact.
977
00:44:55,150 --> 00:44:58,277
If you looked at it way back,
I think it was like the
978
00:44:58,277 --> 00:45:01,782
1994 or 1996, whenever
I was around the time
979
00:45:01,782 --> 00:45:03,617
when it was a massive peak
in interest rate
980
00:45:03,617 --> 00:45:07,204
and I came down Australia
talk of that same thing.
981
00:45:07,286 --> 00:45:11,333
That bubble is going to crash now
where other areas of market
982
00:45:11,333 --> 00:45:13,418
where a bubble has happened
that has crashed
983
00:45:13,418 --> 00:45:17,922
talk about dotcom boom
and whatnot. I feel like there is
984
00:45:15,963 --> 00:45:19,757
there's a feel thing.
I'm not saying. So do you think
985
00:45:19,757 --> 00:45:24,012
there are some aspects
of our following of people
986
00:45:20,675 --> 00:45:27,641
rushing in, like money
rushing in, creating this
987
00:45:25,597 --> 00:45:29,893
big old bubble now
and then popping
988
00:45:27,641 --> 00:45:31,769
because it's unsustainable
right now? Will I say that
989
00:45:31,769 --> 00:45:35,690
the sustainability
in the property market, maybe
990
00:45:35,690 --> 00:45:39,777
not as much as, you know,
some absolute solid base again
991
00:45:39,777 --> 00:45:42,780
here in the Australian market
and this applies to other
992
00:45:40,778 --> 00:45:43,949
markets in the world.
However it is.
993
00:45:43,949 --> 00:45:47,577
And couple of points, one,
it's really large.
994
00:45:47,744 --> 00:45:51,248
So really, really large.
Things like these are hard
995
00:45:49,079 --> 00:45:54,460
to topple over.
It isn't like you, me,
996
00:45:51,248 --> 00:45:57,920
people at home listening to this
right now. You can do shit
997
00:45:55,543 --> 00:46:00,673
if you decide like, Well,
you know what, I'm not buying
998
00:45:58,755 --> 00:46:02,675
any more property or Hey,
I'm going to double
999
00:46:00,673 --> 00:46:03,635
the price of my property.
The market isn't even shit.
1000
00:46:03,635 --> 00:46:07,139
It's so insignificant
into this useless.
1001
00:46:07,222 --> 00:46:10,851
So the largeness of it is hard
to actually topple over
1002
00:46:09,224 --> 00:46:12,351
in the sense of it's
going to just collapse
1003
00:46:10,851 --> 00:46:15,646
completely. There are
big old powers,
1004
00:46:13,519 --> 00:46:16,231
government, other things
which are going to prevent
1005
00:46:16,231 --> 00:46:19,818
it from doing that right.
They're going to stop
1006
00:46:16,940 --> 00:46:22,028
it as much as possible. Could it?
Fuck, yeah, of course it could.
1007
00:46:22,028 --> 00:46:25,532
You know, you could have gigantic
cataclysms
1008
00:46:24,072 --> 00:46:26,324
that happen in the world.
There's always big things
1009
00:46:26,324 --> 00:46:32,956
covered, had a very big impacts
on property
1010
00:46:28,744 --> 00:46:35,458
for a while under rents,
they got down very low
1011
00:46:33,039 --> 00:46:37,628
here for a little bit and did.
And then they slowly skyrocket.
1012
00:46:37,628 --> 00:46:42,048
Right now a lot of see
I imagine something happen
1013
00:46:39,755 --> 00:46:44,134
similar happens.
Yeah, exactly now
1014
00:46:42,048 --> 00:46:48,054
but but again, you know,
you look at it
1015
00:46:44,134 --> 00:46:49,847
in an ad fundamentally
kind of like with other things.
1016
00:46:49,847 --> 00:46:52,851
So financially we're
in a bubble and whatnot.
1017
00:46:53,101 --> 00:46:57,523
Fundamentally,
what is it that drives
1018
00:46:54,603 --> 00:46:59,483
people to want a house,
an apartment, that sort of asset?
1019
00:46:59,483 --> 00:47:02,485
And it's generally is
you need someone to live
1020
00:47:02,652 --> 00:47:04,780
just in general.
You kind of need someone.
1021
00:47:04,780 --> 00:47:08,282
If all of a sudden we all decided
we want to be farm animals
1022
00:47:06,030 --> 00:47:09,827
and live in the streets,
fuck you, fuck property,
1023
00:47:08,282 --> 00:47:11,244
it's going
we're all going to leave
1024
00:47:09,827 --> 00:47:13,163
on the grass, but.
We'll talk about
1025
00:47:11,244 --> 00:47:16,750
the technology aspects of.
Technology. But you know, for
1026
00:47:16,833 --> 00:47:19,670
however you want it,
you probably want a roof
1027
00:47:17,835 --> 00:47:21,880
over your head.
And if you don't have it,
1028
00:47:19,670 --> 00:47:24,340
well, obviously it sucks
and you know that you want
1029
00:47:21,880 --> 00:47:26,760
to be living somewhere.
So then that what follows on from
1030
00:47:26,760 --> 00:47:30,514
that is, okay, well, what's the
incoming amount of that need?
1031
00:47:30,514 --> 00:47:34,893
Housing at least for Australia.
And I know
1032
00:47:32,599 --> 00:47:35,686
generally what the broader
Australian, but I know
1033
00:47:35,686 --> 00:47:38,230
specifically Queensland, there's
a truckload of people
1034
00:47:38,230 --> 00:47:41,358
coming into Queensland,
heaps of people still interstate
1035
00:47:39,731 --> 00:47:42,985
coming through.
I was seeing some data
1036
00:47:42,985 --> 00:47:44,862
that came out of some
brokerage conversations
1037
00:47:44,862 --> 00:47:46,864
not too long ago,
a couple of weeks ago,
1038
00:47:46,864 --> 00:47:49,574
huge amount of people
coming into Queensland
1039
00:47:47,697 --> 00:47:51,409
by international end,
you know, within Australia
1040
00:47:49,574 --> 00:47:53,369
itself. Yeah.
So again it goes, okay,
1041
00:47:51,409 --> 00:47:54,746
well you need, you need a house
people. Right.
1042
00:47:54,746 --> 00:47:56,331
And if there's not enough
housing to keep up
1043
00:47:56,331 --> 00:47:59,835
with the demand of people
coming in because guess
1044
00:47:58,250 --> 00:48:01,460
what's gonna happen to us.
It, it doesn't like.
1045
00:48:01,460 --> 00:48:03,170
So fundamentally
what's going to happen
1046
00:48:03,170 --> 00:48:06,507
when demand. Exactly
same thing with bitcoin
1047
00:48:04,590 --> 00:48:08,135
if bitcoin all of a sudden
it wasn't worth 1 million
1048
00:48:06,507 --> 00:48:10,177
or so million,
what's going to happen? Right.
1049
00:48:10,177 --> 00:48:12,889
It doesn't, it doesn't go like,
shit, it's
1050
00:48:11,637 --> 00:48:14,641
going to go down about, you know,
it'll become more valuable
1051
00:48:14,641 --> 00:48:16,518
because there's less of it
and people want it
1052
00:48:16,518 --> 00:48:22,315
like it's a, it's a almost
must have type of deal. So it's
1053
00:48:18,644 --> 00:48:24,275
like, are we a in a bubble
in parts? Yes. However,
1054
00:48:24,275 --> 00:48:26,445
there's enough demand, at least
in the Australian market,
1055
00:48:26,445 --> 00:48:29,489
that it doesn't matter
in the sense of, okay,
1056
00:48:28,405 --> 00:48:32,492
people are going to put up
the prices, rent
1057
00:48:29,489 --> 00:48:33,577
or valuation of it,
but people are going
1058
00:48:32,576 --> 00:48:36,038
to keep paying it.
Why? Well, because wages
1059
00:48:33,577 --> 00:48:37,039
are increasing as well.
If they bring down interest rates
1060
00:48:37,039 --> 00:48:39,458
and it becomes
it means that credit
1061
00:48:37,664 --> 00:48:41,710
is available easier
to Australian consumers
1062
00:48:39,458 --> 00:48:44,503
and people want it. So it's going
to keep on going.
1063
00:48:44,503 --> 00:48:45,797
I mean, I've heard of that
happening.
1064
00:48:45,797 --> 00:48:47,298
Same thing in Hong Kong,
Shanghai, obviously
1065
00:48:47,298 --> 00:48:50,469
Sydney's like going
ridiculous prices a lot of people
1066
00:48:49,425 --> 00:48:53,804
talk about. Well, yes,
the multiple
1067
00:48:51,762 --> 00:48:55,349
in the cost of a house
now compared to their salary
1068
00:48:55,349 --> 00:48:57,601
is very different
to back in the days.
1069
00:48:57,601 --> 00:49:02,188
Absolutely, totally agree. I can.
Tell you. That because there was
1070
00:49:02,188 --> 00:49:06,735
a couple of things in this video.
So from the when was it?
1071
00:49:06,735 --> 00:49:09,612
It was it was from
when my parents
1072
00:49:07,693 --> 00:49:13,867
were roughly buying. So this was
in the nineties and prices
1073
00:49:11,530 --> 00:49:15,494
have quadrupled, but incomes
have only doubled.
1074
00:49:15,494 --> 00:49:20,289
So you kind of get like
you have to either work for twice
1075
00:49:20,289 --> 00:49:24,126
as long to be able to save up to
for a deposit to get a house
1076
00:49:24,126 --> 00:49:26,963
or you have to,
you know, combine income.
1077
00:49:26,963 --> 00:49:29,048
So this was already
with combined incomes,
1078
00:49:29,048 --> 00:49:35,054
I guess for my parents day
and age and parents don't age.
1079
00:49:32,510 --> 00:49:35,722
It's like 30 years ago,
not even that.
1080
00:49:35,722 --> 00:49:39,434
I think it was maybe 20.
It could have been the late 2000,
1081
00:49:39,434 --> 00:49:44,898
early 2000 as well. But yet
it's really funny
1082
00:49:43,271 --> 00:49:45,440
with these things
because I wonder
1083
00:49:45,440 --> 00:49:51,487
how much of it actually
is a crisis versus we're just now
1084
00:49:51,487 --> 00:49:56,617
able to bitch and moan better.
Well, I very much think
1085
00:49:53,407 --> 00:49:59,746
it's been in the places
where the demand will be filled.
1086
00:49:59,996 --> 00:50:03,500
Civilisation will shift
and change to make it work.
1087
00:50:03,500 --> 00:50:07,170
What is the reality going to be
for the generation after us?
1088
00:50:07,170 --> 00:50:09,005
Like I'm talking like 20,
20 years, like people
1089
00:50:09,005 --> 00:50:12,134
who are being born today, right?
Like my like my go.
1090
00:50:12,134 --> 00:50:14,677
I think it's going to be
a transition where
1091
00:50:14,677 --> 00:50:17,054
the demand for housing is
still going to be strong.
1092
00:50:17,054 --> 00:50:20,516
There's still going to be
people wanting to
1093
00:50:17,889 --> 00:50:21,726
come to Australia again. Unless
something crazy happens,
1094
00:50:21,726 --> 00:50:22,811
there's going to be
a lot of people coming in.
1095
00:50:22,811 --> 00:50:26,440
You've got to house people
somewhere. It's going to change
1096
00:50:24,271 --> 00:50:30,360
into more of a generate or
people that do more share
1097
00:50:26,440 --> 00:50:32,237
housing, leave more in
build to rent type of styles
1098
00:50:32,237 --> 00:50:34,030
is going to shift towards
more of that.
1099
00:50:34,030 --> 00:50:36,449
Maybe living further out
from the cities
1100
00:50:36,449 --> 00:50:38,452
that might be aided
by technology and whatnot.
1101
00:50:38,452 --> 00:50:41,038
So I think those changes
are just going to happen
1102
00:50:41,038 --> 00:50:42,621
because the demand
is going to be there.
1103
00:50:42,621 --> 00:50:47,376
So it's not as easy to say like,
okay, cool, prices are
1104
00:50:43,789 --> 00:50:48,003
going to decline by 50%,
Why would they
1105
00:50:48,003 --> 00:50:50,380
if people are still willing
to be paying things to be living
1106
00:50:50,380 --> 00:50:53,550
in certain locations
and keep the prices floating,
1107
00:50:51,797 --> 00:50:56,052
could they go down?
I just don't expect them
1108
00:50:53,550 --> 00:50:58,929
to be 50% down.
That unlike other places
1109
00:50:56,052 --> 00:51:01,724
where you have things like
deserted cities, right,
1110
00:50:58,929 --> 00:51:04,143
or complete places,
Spain, Greece, a few other place,
1111
00:51:04,143 --> 00:51:06,438
things collapsed I.
Know, with their
1112
00:51:04,769 --> 00:51:08,106
their cities. Yeah. But you know,
you have examples of
1113
00:51:08,106 --> 00:51:10,025
where of okay
there's problems from
1114
00:51:10,025 --> 00:51:13,695
like a full economical
perspective, issues
1115
00:51:13,695 --> 00:51:15,947
like economic issues
not just on the assets
1116
00:51:15,947 --> 00:51:19,117
but in other assets
or in the actual currency
1117
00:51:16,989 --> 00:51:20,117
themselves.
Plus there's no demand.
1118
00:51:20,117 --> 00:51:22,496
You you could Google it up
right now.
1119
00:51:22,496 --> 00:51:25,373
I think I saw it recently,
like in Italy, but I'm sure
1120
00:51:24,371 --> 00:51:27,208
as other places they'll pay you
to go live it. They'll they'll
1121
00:51:27,208 --> 00:51:30,420
it's like you can buy
a house for a dollar the cops.
1122
00:51:30,420 --> 00:51:35,092
Yeah. Rural places. Okay.
Is it because like, man,
1123
00:51:35,092 --> 00:51:36,425
they had a bubble
and it collapsed.
1124
00:51:36,425 --> 00:51:38,637
No, motherfucker. It's
because they just.
1125
00:51:38,637 --> 00:51:39,971
There was no debate.
No one's coming to it.
1126
00:51:39,971 --> 00:51:40,931
So what are they going
to be like?
1127
00:51:40,931 --> 00:51:44,559
Please come and live here.
You know, in Australia
1128
00:51:42,766 --> 00:51:45,518
when I'm doing that, there's
other places in the world
1129
00:51:45,518 --> 00:51:47,353
we're not doing that either.
So people are just going to come
1130
00:51:47,353 --> 00:51:49,688
and pay the money
that they need to live
1131
00:51:49,688 --> 00:51:52,650
the lifestyle that they want.
Yeah, yeah. So you know what,
1132
00:51:52,650 --> 00:51:54,485
what explains
these spate of videos
1133
00:51:54,485 --> 00:51:59,324
and how much truth is, is that?
Well, I kind of put it down
1134
00:51:57,489 --> 00:52:02,994
to a couple of things.
One, I feel there's
1135
00:51:59,324 --> 00:52:06,456
the ability to voice your concern
and be loud about it
1136
00:52:06,539 --> 00:52:09,708
perhaps more easily
now than than there was
1137
00:52:09,793 --> 00:52:13,547
30 or 40 years ago.
So I'm not necessarily
1138
00:52:11,293 --> 00:52:18,510
necessarily sure, you know,
today's millennials or people
1139
00:52:15,590 --> 00:52:20,469
my age who are Gen Z
is looking to buy a house
1140
00:52:18,510 --> 00:52:24,306
for the first time. I'm not
sure that they're
1141
00:52:22,264 --> 00:52:29,146
actually have it worse.
I, I perhaps perhaps,
1142
00:52:24,306 --> 00:52:30,313
but it wouldn't be my
as much as I think
1143
00:52:30,313 --> 00:52:34,192
is is being made out
as as as like
1144
00:52:34,275 --> 00:52:37,237
Australia's housing crisis
like crisis as in like
1145
00:52:37,237 --> 00:52:38,989
holy fuck all going to die
So you think.
1146
00:52:38,989 --> 00:52:44,952
But you know you know it's
a point that's unfair. I think in
1147
00:52:42,199 --> 00:52:46,663
in this variation
and I guess we're talking
1148
00:52:44,952 --> 00:52:48,164
about property investment
and I'm like they looked into it,
1149
00:52:48,164 --> 00:52:51,876
but I just think we're 30,
40, 50 years ago. If you look at
1150
00:52:51,876 --> 00:52:53,961
the amount of people
that were living in the area
1151
00:52:53,961 --> 00:52:57,132
that you might be looking
at purchasing
1152
00:52:54,963 --> 00:53:00,302
or living in. Right.
So let's just say 50 years ago
1153
00:52:59,259 --> 00:53:01,135
and you can take
whatever location you want.
1154
00:53:01,135 --> 00:53:04,889
The world here,
whatever proximity it was to
1155
00:53:03,346 --> 00:53:06,849
the central business
district, to the central
1156
00:53:04,889 --> 00:53:08,851
area of living
or the central area
1157
00:53:06,849 --> 00:53:10,061
of entertainment,
there was just less people.
1158
00:53:10,061 --> 00:53:12,731
There was less
percentage of people
1159
00:53:11,188 --> 00:53:14,773
who were living in
that space than it is
1160
00:53:12,731 --> 00:53:16,775
comparatively to now.
If it is a place of in demand
1161
00:53:16,775 --> 00:53:21,364
York, Sydney,
Melbourne, L.A., whatever
1162
00:53:21,447 --> 00:53:25,242
the equivalent there is, hey,
we're living in a place
1163
00:53:23,324 --> 00:53:26,619
and maybe at that time
we might have been
1164
00:53:25,242 --> 00:53:27,454
considered the outskirts,
maybe it was considered
1165
00:53:27,454 --> 00:53:32,208
just there wasn't as much people.
Now there's a truckload of people
1166
00:53:30,789 --> 00:53:34,085
everyone wants to live it.
It makes sense
1167
00:53:32,208 --> 00:53:36,880
that it costs more.
You know, there might be a
1168
00:53:34,085 --> 00:53:39,423
just a shift in perspective
that, okay, 50 years ago
1169
00:53:39,423 --> 00:53:40,675
this was considered
the outskirts.
1170
00:53:40,675 --> 00:53:42,177
You're not going to have
to live in the outskirts
1171
00:53:42,177 --> 00:53:45,262
for similar prices, perhaps,
but that just means now
1172
00:53:45,262 --> 00:53:46,681
the outskirts
are just much further away
1173
00:53:46,681 --> 00:53:50,559
from their central business.
So maybe you can,
1174
00:53:47,806 --> 00:53:53,063
I guess, technically
be getting the same thing
1175
00:53:53,063 --> 00:53:56,565
in a more like theoretical view.
We've what was considered
1176
00:53:54,648 --> 00:53:59,235
the outskirts, but just now it's
technically much further away.
1177
00:53:59,235 --> 00:54:03,907
Another example actually I saw
was if you for fun you want to go
1178
00:54:02,489 --> 00:54:06,451
have a look at just random
like crazy prices,
1179
00:54:03,907 --> 00:54:07,159
go to the California hills
and you'll have a look
1180
00:54:07,159 --> 00:54:08,786
at the prices
of some of the areas
1181
00:54:08,786 --> 00:54:13,708
in California and the like.
I think every single property
1182
00:54:11,121 --> 00:54:15,376
that was sold in the last
12 months or 18 months,
1183
00:54:13,708 --> 00:54:17,753
I'm like that in this
like humungous
1184
00:54:15,376 --> 00:54:19,213
area was basically $50
million and all of it.
1185
00:54:19,213 --> 00:54:20,507
It was like
hundreds of properties.
1186
00:54:20,507 --> 00:54:24,802
Right now you look at that
and what are
1187
00:54:21,882 --> 00:54:26,887
people going to be like?
it's fucking yeah, like a bubble.
1188
00:54:26,887 --> 00:54:29,139
What's that? Happy know people
want to live in that area.
1189
00:54:29,139 --> 00:54:30,641
They're going to go
and pay for it.
1190
00:54:30,641 --> 00:54:33,228
There's not even the
conversation of people
1191
00:54:31,141 --> 00:54:35,146
who are, you know,
coming up wanting to buy
1192
00:54:33,228 --> 00:54:35,855
this house property.
There's just people.
1193
00:54:35,855 --> 00:54:37,523
Lots of people
have a lot of money
1194
00:54:36,398 --> 00:54:39,608
to be able do.
I think it could be
1195
00:54:37,523 --> 00:54:44,155
related to the point
you had, which was that
1196
00:54:39,608 --> 00:54:46,782
you had this expansion of,
you know, I had ten options
1197
00:54:46,782 --> 00:54:50,536
when I was I was, you know,
younger, had had less money,
1198
00:54:50,536 --> 00:54:53,748
had less time to accumulate,
probably even less knowledge.
1199
00:54:53,748 --> 00:54:56,543
And yet now you have,
you know, let's say
1200
00:54:56,543 --> 00:55:00,922
a thousand, so 100
hundred x change on that.
1201
00:55:01,005 --> 00:55:03,842
And then that can create
a lot of problems
1202
00:55:03,842 --> 00:55:09,722
for yourself of like,
all these dream ones that
1203
00:55:05,802 --> 00:55:11,016
I want then now like to,
you know, it's almost like
1204
00:55:11,016 --> 00:55:16,186
there's too much choices,
there's too much
1205
00:55:12,599 --> 00:55:19,773
of an ability to go on to
what's what some of the big
1206
00:55:16,771 --> 00:55:23,820
websites here to domain.
To mine property
1207
00:55:20,025 --> 00:55:26,114
I mean real estate a.
Real estate dot com today
1208
00:55:23,902 --> 00:55:27,282
you that's
these are all big websites
1209
00:55:27,282 --> 00:55:29,951
where you can just go in
and you can see everything
1210
00:55:27,907 --> 00:55:31,536
You can go you can see
the history of it.
1211
00:55:31,536 --> 00:55:32,954
You can go inside,
you can see photos
1212
00:55:32,954 --> 00:55:34,873
into all these things.
So I wonder if part of it's
1213
00:55:34,873 --> 00:55:39,251
that my other thinking
that on the opposite side was
1214
00:55:39,251 --> 00:55:43,380
in these videos,
they were talking about things
1215
00:55:40,545 --> 00:55:46,009
like the capital gains
tax discount that you can
1216
00:55:43,380 --> 00:55:47,802
get here in Australia.
So basically
1217
00:55:46,009 --> 00:55:51,347
if you buy something,
you hold it for a year
1218
00:55:47,802 --> 00:55:54,976
one, you then sell it
the the money that you
1219
00:55:51,431 --> 00:55:56,353
make off that only half of
it will get taxed.
1220
00:55:56,353 --> 00:56:01,023
So you get a discount.
And it was saying like
1221
00:55:58,021 --> 00:56:03,400
this and maybe things like
the ability to offset
1222
00:56:01,065 --> 00:56:04,735
negative gearing.
So negative gearing,
1223
00:56:04,735 --> 00:56:07,947
like I was saying before,
if you're if you're
1224
00:56:08,030 --> 00:56:13,202
mortgage is let's say 200 a week
and your your rent
1225
00:56:13,202 --> 00:56:16,039
that you're getting from
people is 150 a week and you're
1226
00:56:16,039 --> 00:56:18,375
obviously way out
in the outskirts for this
1227
00:56:18,375 --> 00:56:21,795
and the scenario that
that $50 a week difference
1228
00:56:21,795 --> 00:56:26,173
you can then use that to offset
against your own income
1229
00:56:23,170 --> 00:56:29,010
from your regular job.
And then that will lower
1230
00:56:26,173 --> 00:56:29,552
your tax overall anyway.
It was just saying
1231
00:56:29,552 --> 00:56:31,429
like things like this
where it was
1232
00:56:31,429 --> 00:56:35,891
these can create dynamics
which perhaps were on
1233
00:56:35,891 --> 00:56:38,811
the scene unintended
and they had some graphs
1234
00:56:38,811 --> 00:56:40,563
and you could kind of
look at it and be like,
1235
00:56:40,563 --> 00:56:44,858
yeah, you know, capital
gains discount tax discount
1236
00:56:42,690 --> 00:56:45,818
was introduced here.
Massive offset
1237
00:56:45,818 --> 00:56:49,947
between house prices
and the amount of income someone.
1238
00:56:50,155 --> 00:56:52,992
And so it's like, well, okay,
maybe that had something
1239
00:56:51,574 --> 00:56:57,539
to do with it. And I do I could
I could understand why yes
1240
00:56:57,539 --> 00:57:00,416
you know what now
objectively would be
1241
00:57:00,416 --> 00:57:04,503
harder for someone in the
twenties and thirties to buy
1242
00:57:04,586 --> 00:57:07,757
because of factors
outside the control
1243
00:57:07,840 --> 00:57:10,552
made by government
on policy stuff.
1244
00:57:10,552 --> 00:57:15,514
And then, you know,
because I 100% believe
1245
00:57:12,219 --> 00:57:20,811
this with inflation and
and how how money is
1246
00:57:15,639 --> 00:57:23,021
created slash used in the
in the fiat world. And I go
1247
00:57:21,646 --> 00:57:26,025
this is facts like there's
so many bad things
1248
00:57:23,021 --> 00:57:27,360
that come from this
or unintended things.
1249
00:57:27,360 --> 00:57:30,155
Yeah I could 100% understand
why there would be
1250
00:57:30,155 --> 00:57:33,407
a housing crisis
or a bubble caused by
1251
00:57:33,490 --> 00:57:38,954
other random, you know,
usually older, wealthier
1252
00:57:35,952 --> 00:57:40,956
people making decisions
in parliament and politics
1253
00:57:40,956 --> 00:57:45,085
and all that sort of jazz
which ends up
1254
00:57:42,666 --> 00:57:46,003
having consequences down.
The line for other people,
1255
00:57:46,003 --> 00:57:47,505
I could 100% believe
that as well.
1256
00:57:47,505 --> 00:57:50,132
So I think it's probably
a mixture of both. Yeah,
1257
00:57:50,132 --> 00:57:51,175
a little bit of bitching
and moaning
1258
00:57:51,175 --> 00:57:54,471
going on, but also like,
yeah, there's a little bit
1259
00:57:52,510 --> 00:57:56,222
of justification for it.
Yeah look for sure. But again,
1260
00:57:56,222 --> 00:57:58,182
and one other aspect
I was having in my mind
1261
00:57:58,182 --> 00:58:03,313
and something that I saw as well.
There was, there was a Australia
1262
00:58:01,811 --> 00:58:04,646
obviously specific here,
but I think this probably applies
1263
00:58:04,646 --> 00:58:07,817
to most places in the world.
So if you're listening
1264
00:58:05,898 --> 00:58:10,527
to this from another area,
they was a potential
1265
00:58:07,817 --> 00:58:14,282
investment property
that was looking to buy
1266
00:58:10,527 --> 00:58:17,619
2017, 2018,
this was on the outskirts
1267
00:58:14,364 --> 00:58:21,371
of Melbourne to the east,
one hour out, one hour and a half
1268
00:58:18,869 --> 00:58:22,414
actually on the train run
and housing,
1269
00:58:22,414 --> 00:58:25,251
whatever it was, 2017,
2018 and I looked
1270
00:58:23,416 --> 00:58:26,376
at that property,
never going to buy it
1271
00:58:25,251 --> 00:58:29,172
and I looked
at that property again
1272
00:58:26,376 --> 00:58:31,215
just by. That so far away.
Well, specifically top
1273
00:58:29,172 --> 00:58:32,884
my mentality.
Was any way you could.
1274
00:58:32,884 --> 00:58:35,094
Yeah, my mentality
was at the time
1275
00:58:35,094 --> 00:58:37,514
I still have limited funds
to be able to buy things.
1276
00:58:37,514 --> 00:58:41,559
The houses out there
were still fairly cheap. Yeah,
1277
00:58:39,556 --> 00:58:43,686
I had a mentality of, Hey,
I can see in Sydney,
1278
00:58:41,559 --> 00:58:45,313
you know, talking about
Penrith and like,
1279
00:58:43,686 --> 00:58:46,481
Hey, that's an hour
to get into the city.
1280
00:58:46,481 --> 00:58:47,773
They also wasn't
to really price up,
1281
00:58:47,773 --> 00:58:51,693
in fact houses around there
like $1,000,000
1282
00:58:48,690 --> 00:58:52,737
now, so going well, shit.
Thinking similarly from Melbourne
1283
00:58:52,737 --> 00:58:55,072
perspective, maybe
it's on the outskirts
1284
00:58:55,072 --> 00:58:57,282
where people start living
in, they're moving
1285
00:58:57,282 --> 00:58:59,619
in, it gets all this
sort of stuff. I was thinking,
1286
00:58:59,619 --> 00:59:02,413
I looked at it,
you know, quite recently,
1287
00:59:02,413 --> 00:59:05,500
the $0 in couple games, nothing.
That place is going up at all.
1288
00:59:05,500 --> 00:59:10,630
So you know, you got shit.
I mean, friggin plenty
1289
00:59:07,626 --> 00:59:12,005
years left on nothing.
It literally
1290
00:59:10,630 --> 00:59:13,507
hasn't gone up at all.
So if you wanted to go
1291
00:59:12,005 --> 00:59:14,634
and live out there,
you can still live on,
1292
00:59:14,634 --> 00:59:16,760
you know, dirt cheap an hour
away from one hour
1293
00:59:16,760 --> 00:59:20,722
plus away from Melbourne,
but likelihood no one's
1294
00:59:18,471 --> 00:59:23,226
going to live there.
So you look at a bubble
1295
00:59:20,722 --> 00:59:25,061
perspective, you'll have to
look at the okay way
1296
00:59:25,061 --> 00:59:26,436
because you can
definitely find placements
1297
00:59:26,436 --> 00:59:28,815
are going to be nice and cheap.
You're just probably
1298
00:59:27,813 --> 00:59:29,856
living somewhere
that people don't want
1299
00:59:28,815 --> 00:59:31,693
to live for.
Sure, which gets them
1300
00:59:29,856 --> 00:59:35,445
to the last point. Location,
location, location. I missed out
1301
00:59:33,945 --> 00:59:36,072
one of the locations
in the thumbnail.
1302
00:59:36,072 --> 00:59:40,827
There's only two, but that
does get to that point of
1303
00:59:40,909 --> 00:59:43,913
you know what?
What is it about property
1304
00:59:42,036 --> 00:59:47,291
that that's
so appealing, enticing
1305
00:59:43,913 --> 00:59:49,751
and a large portion of it is the
the location of the thing
1306
00:59:49,751 --> 00:59:54,047
being able
to be close to your work
1307
00:59:54,132 --> 00:59:58,844
all all those
you know it's it's rare
1308
00:59:55,717 --> 01:00:05,143
it feels like it's rare
that the actual house itself
1309
01:00:00,012 --> 01:00:06,518
is that much a part of the
decision making process.
1310
01:00:06,518 --> 01:00:10,565
You know, does it have
five rooms or is it,
1311
01:00:08,271 --> 01:00:12,400
you know, this does
have these type of architraves?
1312
01:00:12,400 --> 01:00:13,610
Maybe in the case
of my brother's,
1313
01:00:13,610 --> 01:00:16,528
it would probably
be a bigger aspect
1314
01:00:16,528 --> 01:00:20,365
because it is such a weird house.
But, you know,
1315
01:00:17,947 --> 01:00:22,619
usually it's related to
is it next to the river?
1316
01:00:20,365 --> 01:00:25,246
I have a boat. I want to
I want to park my boat
1317
01:00:23,286 --> 01:00:26,914
outside of my house.
Or is it close to this place
1318
01:00:26,914 --> 01:00:29,000
where I get a view?
Is it close to
1319
01:00:29,000 --> 01:00:31,710
these catchment areas,
these sort of things?
1320
01:00:31,793 --> 01:00:35,505
Do you think that the location
aspect of property
1321
01:00:35,505 --> 01:00:39,010
and is getting into the
predictions of the future,
1322
01:00:39,092 --> 01:00:42,804
could that change with? Well,
technology is one thing
1323
01:00:42,804 --> 01:00:43,931
we should probably talk
about, say
1324
01:00:43,931 --> 01:00:48,436
the metaverse, you know, would
there's a thing
1325
01:00:47,226 --> 01:00:50,355
where I've slightly
changed my tune where I was like,
1326
01:00:50,355 --> 01:00:53,690
the metaverse seemed like
the dumbest thing I'd ever heard
1327
01:00:53,690 --> 01:00:55,610
probably two years ago
when I was real hyped
1328
01:00:55,610 --> 01:00:57,527
up, You know, Facebook changed
their name to met
1329
01:00:57,527 --> 01:01:00,530
all that, sorted
all that sort of shit.
1330
01:01:00,614 --> 01:01:02,824
And I thought
it was the dumbest thing.
1331
01:01:02,824 --> 01:01:06,579
So it was just like,
we're still going to be
1332
01:01:04,242 --> 01:01:10,708
in the physical world
and you're still just going
1333
01:01:08,748 --> 01:01:12,335
to have to need a property
and things like this.
1334
01:01:12,335 --> 01:01:15,838
And I kind of had it in
my mind where it was a one
1335
01:01:15,838 --> 01:01:21,677
versus zero flip. The, you know.
Prices, house prices
1336
01:01:19,300 --> 01:01:22,929
in the real world wouldn't
really matter anymore
1337
01:01:22,929 --> 01:01:24,429
because everything
would be in the metaverse.
1338
01:01:24,429 --> 01:01:28,059
And that's where, you know,
almost all the money
1339
01:01:25,972 --> 01:01:29,811
would go almost. All the decision
making about location
1340
01:01:29,811 --> 01:01:31,853
would be your location in
the metaverse, you know?
1341
01:01:31,853 --> 01:01:34,148
Is this possible?
Yeah, yeah, yeah.
1342
01:01:34,148 --> 01:01:37,943
That sort of thing.
I'm kind of changing
1343
01:01:36,025 --> 01:01:40,655
my chain around my.
Okay, I can see
1344
01:01:40,655 --> 01:01:44,409
the digital worlds
getting crazier. We will spend
1345
01:01:42,824 --> 01:01:47,954
more time in it,
so maybe it'll be only
1346
01:01:44,409 --> 01:01:50,081
like a 10% difference
where it's like 10% of the money
1347
01:01:50,081 --> 01:01:52,875
that would be in
housing here in Australia
1348
01:01:52,875 --> 01:01:58,840
goes into housing in the
in the digital world
1349
01:01:55,836 --> 01:02:02,592
where you have a at it.
And I hesitate to say
1350
01:01:59,590 --> 01:02:06,556
like a property
there, which is what
1351
01:02:02,592 --> 01:02:09,434
the metaverse is. But
you know, in some cases
1352
01:02:06,639 --> 01:02:11,768
I would say Bitcoin if Bitcoin
hadn't come around,
1353
01:02:11,768 --> 01:02:13,688
where would I be
spending my money now?
1354
01:02:13,688 --> 01:02:15,188
It still probably
would be in stocks,
1355
01:02:15,188 --> 01:02:19,902
but I would certainly have
been thinking a lot more about
1356
01:02:19,985 --> 01:02:24,364
housing now, housing, housing.
So it's one of those ones
1357
01:02:22,237 --> 01:02:27,159
where it's like, you know,
maybe Bitcoin is the,
1358
01:02:27,159 --> 01:02:28,994
you know, people say it
as a store of value.
1359
01:02:28,994 --> 01:02:30,913
Well, that's how a lot of
people view housing.
1360
01:02:30,913 --> 01:02:34,208
So you could kind of say,
okay, technology has
1361
01:02:34,291 --> 01:02:39,338
altered that scenario
a bit and it's now instead of
1362
01:02:39,338 --> 01:02:41,798
a store of value of being gold
and your house,
1363
01:02:41,798 --> 01:02:44,760
that sort of thing, it's like,
okay, well, maybe bitcoin's a
1364
01:02:44,760 --> 01:02:49,681
part of that as well now.
So what do you think that
1365
01:02:45,719 --> 01:02:52,893
there'll be big changes
in the future related to housing?
1366
01:02:52,976 --> 01:02:54,478
You know,
the great Australian dream
1367
01:02:54,478 --> 01:02:55,938
of owning a home,
that sort of thing.
1368
01:02:55,938 --> 01:02:59,317
Will that matter as much in terms
of like the cultural sway,
1369
01:02:59,317 --> 01:03:07,282
in terms of where people
spend money, all that, all those
1370
01:03:02,652 --> 01:03:10,077
questions related to that?
Yes, I think I think
1371
01:03:10,077 --> 01:03:14,623
I think, you know, fast
forwarding in a. Way
1372
01:03:14,706 --> 01:03:18,543
what you mean. Yes. Yes.
In terms. Yes, I think.
1373
01:03:15,833 --> 01:03:20,630
The things will change or.
Yes, I yes, I do believe that
1374
01:03:20,630 --> 01:03:22,632
the mentality
of still wanting to own
1375
01:03:22,632 --> 01:03:24,467
a house, buy
a house, buy an asset
1376
01:03:24,467 --> 01:03:27,844
for a purpose of having a roof.
Is still be a big. Thing.
1377
01:03:27,844 --> 01:03:31,264
Yeah, it's going to be important,
even even in the metaverse
1378
01:03:28,929 --> 01:03:31,932
side of things.
Why do I think that?
1379
01:03:31,932 --> 01:03:33,893
I think there's going
to be more distribution
1380
01:03:33,893 --> 01:03:37,980
of living location
So if you could be a 100%
1381
01:03:37,980 --> 01:03:39,815
remote work, connect
with all of your friends
1382
01:03:39,815 --> 01:03:42,068
from a Metaverse perspective,
then you might just
1383
01:03:42,068 --> 01:03:45,862
go and live 5 hours
away in the woods somewhere
1384
01:03:44,110 --> 01:03:48,114
in a cheap location
and you can just live out
1385
01:03:45,862 --> 01:03:49,199
and have a big about lane
and chill out because you can't.
1386
01:03:49,199 --> 01:03:50,909
You can connect
with everyone that way.
1387
01:03:50,909 --> 01:03:52,452
Obviously not
everyone is going to be the way
1388
01:03:52,452 --> 01:03:54,204
you want to talk
to people in person,
1389
01:03:54,204 --> 01:03:56,206
but maybe you can do it
a bit further away.
1390
01:03:56,206 --> 01:03:58,458
I've talked to people
in my office where they said
1391
01:03:57,666 --> 01:04:01,295
that, you know,
if they could work 100%
1392
01:03:58,458 --> 01:04:02,338
remote from home,
they're probably just
1393
01:04:01,295 --> 01:04:04,090
moved further away, like 2 hours
away from the city,
1394
01:04:04,090 --> 01:04:06,675
away from the city, because
you don't have to
1395
01:04:05,590 --> 01:04:09,594
come in as often.
And you could do that
1396
01:04:06,675 --> 01:04:13,181
once a trip in.
So that aspect of it,
1397
01:04:09,594 --> 01:04:15,518
I could see it, you know,
diverging the prices
1398
01:04:13,224 --> 01:04:16,978
because then know you've only got
so many people wanting
1399
01:04:16,978 --> 01:04:19,521
to live kind of close
into centres.
1400
01:04:19,521 --> 01:04:22,983
Yeah. Of, of commute.
If that changes
1401
01:04:20,648 --> 01:04:24,402
I can distribute to people
inside, moves away develop
1402
01:04:24,402 --> 01:04:29,114
so that might be one way
where the the bubble
1403
01:04:26,737 --> 01:04:30,615
of central locations dissipates
and then it moves.
1404
01:04:30,615 --> 01:04:34,661
I would just say
so that it does that
1405
01:04:32,284 --> 01:04:35,454
just that the the values
deflate slowly.
1406
01:04:35,454 --> 01:04:37,748
Well a lot of the flights it just
it's the same amount of
1407
01:04:37,748 --> 01:04:42,253
I think value just moving
elsewhere. It's just distributed
1408
01:04:40,543 --> 01:04:43,420
across the board. If you actually
look at Australian,
1409
01:04:43,420 --> 01:04:46,507
how much is like the location
of the population versus
1410
01:04:44,797 --> 01:04:49,260
the land, like we just got such a
ridiculous amount of land,
1411
01:04:47,592 --> 01:04:50,510
but nobody lives there. Yeah,
well we're on the coast.
1412
01:04:50,510 --> 01:04:53,139
You can distribute that, right?
You could go buy
1413
01:04:51,429 --> 01:04:55,181
the cheapest house
like you'd want
1414
01:04:53,139 --> 01:04:56,474
and probably 12 hours
away from Brisbane,
1415
01:04:56,474 --> 01:04:59,686
you probably buy something
real dirt cheap is going to get
1416
01:04:57,643 --> 01:05:01,355
some good into York.
So yeah, we'll change it. Yeah.
1417
01:05:01,355 --> 01:05:03,231
Some some way it impacts
but I don't think
1418
01:05:03,231 --> 01:05:06,818
it'll change the fact
that people wanting to either own
1419
01:05:05,025 --> 01:05:08,445
or want to be in a house
apartment, whatever it may be,
1420
01:05:08,445 --> 01:05:11,865
and live in that sort of space
and be able to, you know,
1421
01:05:11,865 --> 01:05:13,826
cherish it or build upon it
or something like that,
1422
01:05:13,826 --> 01:05:14,994
I don't think
that'll change too much.
1423
01:05:14,994 --> 01:05:17,914
How about the so in the book,
the inevitable,
1424
01:05:17,914 --> 01:05:24,253
inevitable, the inevitable
that the book review I did
1425
01:05:21,250 --> 01:05:28,590
recently from Kevin Kelly,
he had this idea of these,
1426
01:05:24,336 --> 01:05:33,762
these kind of locations
where it's very
1427
01:05:28,590 --> 01:05:35,264
how how would I put it?
I've forgotten the verb
1428
01:05:33,762 --> 01:05:36,766
he used for it,
but it was essentially,
1429
01:05:36,766 --> 01:05:39,936
you will live in a place
where it's just expendable
1430
01:05:39,936 --> 01:05:44,023
and everything is expendable.
It's Not you don't own anything.
1431
01:05:44,023 --> 01:05:47,610
It's kind of like you
don't, you know, you'll own
1432
01:05:45,690 --> 01:05:48,818
nothing and be happy.
Usually, you know,
1433
01:05:48,818 --> 01:05:52,030
when when you hear that
at least in the Bitcoin
1434
01:05:49,778 --> 01:05:54,659
world, that's that's.
Whoa. Yeah. That's, that's
1435
01:05:52,030 --> 01:05:58,329
kind of like your. Yeah,
you're like the globalists
1436
01:05:55,576 --> 01:05:59,956
are trying to get you
to give up everything
1437
01:05:58,329 --> 01:06:01,873
and that alone. And there's
a certain extent to that.
1438
01:06:01,873 --> 01:06:05,085
But I can also see for
certain aspects of my life
1439
01:06:05,085 --> 01:06:06,295
where I'm like, Yeah,
you know what?
1440
01:06:06,295 --> 01:06:09,255
I don't need to own that.
Like, I don't need to own
1441
01:06:07,922 --> 01:06:10,382
a house. I'm kind of fine
with that.
1442
01:06:10,382 --> 01:06:12,550
And maybe that'll never
change for me.
1443
01:06:12,550 --> 01:06:14,719
I've always kind of
just been like
1444
01:06:14,719 --> 01:06:19,724
different things. Okay, Obviously
things could
1445
01:06:18,306 --> 01:06:21,184
change if I have a family
and I was like,
1446
01:06:19,724 --> 01:06:23,103
I'd want more security
and that sort of thing.
1447
01:06:23,103 --> 01:06:26,065
But would you
do you think that sort of
1448
01:06:26,065 --> 01:06:28,358
lifestyle
will ever have an appeal
1449
01:06:28,358 --> 01:06:33,989
to people broadly or maybe even
just a certain type
1450
01:06:30,987 --> 01:06:36,409
of people where
instead of needing
1451
01:06:34,030 --> 01:06:37,201
to own their own home
in the city,
1452
01:06:37,201 --> 01:06:40,621
they've got an apartment
which they only sleep in
1453
01:06:40,704 --> 01:06:42,456
half the time
because they're half,
1454
01:06:42,456 --> 01:06:47,085
half the other time
they're sleeping at their
1455
01:06:43,206 --> 01:06:47,795
parents or at a partners
or something like that.
1456
01:06:47,795 --> 01:06:54,217
And so it's just very chop
and change. And, you know,
1457
01:06:51,215 --> 01:06:56,262
I'm in Brisbane today
like heart of the city centre
1458
01:06:56,262 --> 01:06:57,972
and going to West End
to see some friends.
1459
01:06:57,972 --> 01:07:00,599
I'll just stay at West End
overnight because.
1460
01:07:00,599 --> 01:07:02,684
There's an apartment there
which is a chop
1461
01:07:02,684 --> 01:07:04,894
and change, one where
I can just stay there
1462
01:07:03,686 --> 01:07:06,230
for the night. Yeah, I mean, not,
not anymore.
1463
01:07:06,230 --> 01:07:09,733
That happens already.
Now, I do know people
1464
01:07:06,938 --> 01:07:12,277
who do that nowadays.
That's not like a thing
1465
01:07:09,733 --> 01:07:14,155
that I'd have to go on. I call.
Well, it's kind of strange
1466
01:07:12,610 --> 01:07:16,364
like that happens.
How do they do that? By, like.
1467
01:07:16,364 --> 01:07:18,034
Staying at a friend's
place, I'm guessing.
1468
01:07:18,034 --> 01:07:20,786
Usually some of what I've seen it
a couple of people like some work
1469
01:07:20,786 --> 01:07:22,621
perspective guy
who used to live here.
1470
01:07:22,621 --> 01:07:26,000
He lives 2 hours away, basically
from the Centre City tunnels.
1471
01:07:26,000 --> 01:07:27,333
He'd come in.
He'd just basically he'd
1472
01:07:27,333 --> 01:07:31,963
stay in the city like a hotel.
Like maybe A to get a
1473
01:07:30,378 --> 01:07:33,632
B for two or three nights
smash out of work, which is.
1474
01:07:33,632 --> 01:07:36,260
An equivalent. Of that. I've seen
the sort of thing
1475
01:07:36,260 --> 01:07:39,304
I've seen people do the do
come in from somewhere.
1476
01:07:39,346 --> 01:07:43,059
So I'm going to say anybody
try on a West end place
1477
01:07:40,806 --> 01:07:44,226
and then the next day
I'm going to go
1478
01:07:43,059 --> 01:07:47,353
staying somewhere else
and just go to basically
1479
01:07:44,226 --> 01:07:50,315
something that's finished
and just sleep and not
1480
01:07:47,353 --> 01:07:55,695
really be liked, I guess. Yeah,
I've seen that as well. Will we
1481
01:07:52,860 --> 01:07:55,987
move more towards that?
I don't know.
1482
01:07:55,987 --> 01:07:58,074
I don't think any more
than not to be honest.
1483
01:07:58,074 --> 01:08:02,369
Like the more I see it,
the more technology
1484
01:08:02,369 --> 01:08:05,706
coming coming into place.
I kind of disagree
1485
01:08:03,788 --> 01:08:06,373
a little bit with Kevin
Kelly in the sense
1486
01:08:06,373 --> 01:08:08,626
that, we're going to go
into this place where it's
1487
01:08:08,626 --> 01:08:11,836
just all like
holding together, living
1488
01:08:09,460 --> 01:08:13,630
in an expendable place.
I go, not really.
1489
01:08:13,630 --> 01:08:15,007
I feel like it's going
to go the opposite way,
1490
01:08:15,007 --> 01:08:17,676
where you now
have the opportunity to
1491
01:08:17,676 --> 01:08:21,555
have your own whole place
in a further away location
1492
01:08:20,054 --> 01:08:23,474
and then connect digitally
to all the people. Kind of go
1493
01:08:22,515 --> 01:08:25,266
more towards that
where you'd be like,
1494
01:08:23,474 --> 01:08:27,770
no, I can own
a lot of other things now
1495
01:08:25,266 --> 01:08:29,646
and still. Want a grand
mahogany table.
1496
01:08:29,646 --> 01:08:33,109
Yeah, I think the. Carvings.
Well, you know,
1497
01:08:31,314 --> 01:08:35,277
what's the offset?
I think the offset here is
1498
01:08:35,277 --> 01:08:37,529
from out of his perspective
or whatever else, only
1499
01:08:37,529 --> 01:08:40,282
unless it costs is equivalent,
which I don't think
1500
01:08:38,863 --> 01:08:42,909
it will be right. There's always
costs of people going to
1501
01:08:42,993 --> 01:08:47,832
clothing, travel, things, the
affects of our business
1502
01:08:45,829 --> 01:08:49,332
or whatever it might be.
But if you cut all that out
1503
01:08:49,332 --> 01:08:51,627
and maybe 10% of it
goes into the metaverse
1504
01:08:51,627 --> 01:08:54,755
in the sense of service costs,
Internet costs, putting in
1505
01:08:54,755 --> 01:08:58,716
you're buying new clothes
or whatever it might be. Yeah.
1506
01:08:58,716 --> 01:08:59,760
And then you have
the rest of spend.
1507
01:08:59,760 --> 01:09:02,470
Well then that becomes
disposable income. And, you know,
1508
01:09:02,470 --> 01:09:04,681
I kind of feel like people
just tend towards
1509
01:09:04,681 --> 01:09:07,059
spending it on property
or, other things that they want
1510
01:09:07,059 --> 01:09:09,019
to just enjoying themselves
or have to themselves.
1511
01:09:09,019 --> 01:09:12,480
Like, yeah, I disagree
with Kevin Kelly. I disagree.
1512
01:09:12,480 --> 01:09:15,693
would you ever rent out
your place as an Airbnb?
1513
01:09:15,693 --> 01:09:19,697
If you were going somewhere else
for two weeks or three weeks?
1514
01:09:19,697 --> 01:09:22,533
My own place? Yep. Not not, not,
not definitely
1515
01:09:22,533 --> 01:09:24,284
the place that I like,
where I've had like
1516
01:09:24,284 --> 01:09:26,744
my family home for sure.
Not I've never really wanted to.
1517
01:09:26,744 --> 01:09:29,664
In fact, I've been offered
to do Airbnb out of,
1518
01:09:29,664 --> 01:09:32,710
you know, other properties
as well to do it. And it's
1519
01:09:31,750 --> 01:09:35,796
probably more income.
I just go like that. Why?
1520
01:09:35,880 --> 01:09:37,088
This gets
to the point of, you know,
1521
01:09:37,088 --> 01:09:39,175
if a property manager takes you
a little bit to manage,
1522
01:09:39,175 --> 01:09:41,886
I think an Airbnb takes
a lot more to manage.
1523
01:09:41,886 --> 01:09:45,055
In fact, to you
can pay someone to manage
1524
01:09:45,264 --> 01:09:48,725
Airbnb for you and they take
a lot of money to look into it,
1525
01:09:48,725 --> 01:09:50,685
a lot of money
that they take out of that
1526
01:09:50,685 --> 01:09:53,939
because it's so hard to manage.
So on, those guys don't
1527
01:09:52,188 --> 01:09:55,565
deal with it.
Yeah, interesting well,
1528
01:09:53,939 --> 01:09:57,775
especially where you're at,
which is kind of like
1529
01:09:57,775 --> 01:10:01,905
a party zone, right?
People like car and coming in
1530
01:10:01,905 --> 01:10:05,533
and trashing your place.
Yeah. Daily dying down
1531
01:10:03,114 --> 01:10:06,911
and I wouldn't be any fun.
But yeah, I might have some more
1532
01:10:06,911 --> 01:10:11,247
interesting insights into this
in like five months,
1533
01:10:08,746 --> 01:10:12,957
six months time.
If I'm travelling and
1534
01:10:12,957 --> 01:10:17,796
living there, the non property
dependent location,
1535
01:10:16,002 --> 01:10:19,172
you know, I'm just,
I'll still probably get an Airbnb
1536
01:10:19,172 --> 01:10:21,884
for a fair chunk of it,
but it'll be interesting.
1537
01:10:21,884 --> 01:10:24,136
At least
it seems like since COVID
1538
01:10:24,136 --> 01:10:28,181
the hostel type of world
has changed a lot from.
1539
01:10:28,390 --> 01:10:31,268
The trauma itself.
But again, look,
1540
01:10:29,975 --> 01:10:32,770
just think about it
just broadly from a
1541
01:10:31,268 --> 01:10:34,063
housing perspective, talk
about location, talk about it.
1542
01:10:34,063 --> 01:10:36,689
It just depends where you are.
And if you're a person
1543
01:10:36,689 --> 01:10:38,234
who's single
and you go through life
1544
01:10:38,234 --> 01:10:41,945
and you never have a partner,
you never have kids, shit,
1545
01:10:39,693 --> 01:10:43,863
that's very different.
You can be mobile,
1546
01:10:41,945 --> 01:10:45,282
you can do that,
and people want to live that way.
1547
01:10:45,282 --> 01:10:48,493
Sure, this is real life.
If you decide to go on the path
1548
01:10:48,493 --> 01:10:52,456
of being with partner partners,
you know,
1549
01:10:50,746 --> 01:10:53,666
slightly different to you.
They do want a place to,
1550
01:10:53,666 --> 01:10:55,125
you know, they want
to buy their things
1551
01:10:55,125 --> 01:10:57,043
and have the nice table
or something like that.
1552
01:10:57,043 --> 01:10:58,962
You're shit out of luck.
You fucking want to be like,
1553
01:10:58,962 --> 01:11:02,257
I want to move all the time.
Good luck.
1554
01:11:00,256 --> 01:11:04,760
That's going to suck you.
If you ever move house properly
1555
01:11:02,925 --> 01:11:05,469
with a lot of furniture,
you don't wanna do that.
1556
01:11:05,469 --> 01:11:06,970
But they are right
on the very top
1557
01:11:06,970 --> 01:11:09,097
of like most stressful
things to do in life.
1558
01:11:09,097 --> 01:11:11,850
So don't do that. If you
got to the point of having
1559
01:11:11,850 --> 01:11:15,104
kids make that can again,
people do this.
1560
01:11:15,104 --> 01:11:19,858
I'm sure they do do this,
but good luck enjoying
1561
01:11:16,729 --> 01:11:21,193
moving your kid around
school year to year.
1562
01:11:21,193 --> 01:11:23,279
This is a reason why
people who are in the army
1563
01:11:23,279 --> 01:11:25,197
who have to move
every year say like, Man,
1564
01:11:25,197 --> 01:11:28,867
this fucking sucks as a kid
to move around all the time or go
1565
01:11:28,867 --> 01:11:32,621
and make new friends or they want
well centre particular catchment
1566
01:11:32,621 --> 01:11:34,872
people move
for these certain things.
1567
01:11:34,872 --> 01:11:37,167
Unless that changes
drastically, a guy just
1568
01:11:37,167 --> 01:11:40,087
changes the life.
Same thing with, you know,
1569
01:11:37,917 --> 01:11:41,380
to get to an older age,
there's a reason people downsize.
1570
01:11:41,380 --> 01:11:43,548
You know,
you don't stay with a home
1571
01:11:41,587 --> 01:11:44,757
that's five bedrooms.
The only two people
1572
01:11:44,757 --> 01:11:48,595
like it changes to what
you want to be doing, the things
1573
01:11:46,801 --> 01:11:50,264
you want to be doing. I think
all stages of life,
1574
01:11:50,264 --> 01:11:51,974
you know, adapt themselves
to a particular thing.
1575
01:11:51,974 --> 01:11:53,766
Obviously, that changes
what you're looking from
1576
01:11:53,766 --> 01:11:56,520
a housing perspective
and all the variabilities.
1577
01:11:56,603 --> 01:11:59,105
So you have to
be aware of that for sure.
1578
01:11:59,105 --> 01:12:01,608
Yeah, Yeah. I suppose
just my little summary
1579
01:12:01,608 --> 01:12:04,153
kind of similar,
you know, everything
1580
01:12:04,153 --> 01:12:08,114
we were saying, even, you know,
if there is a big housing
1581
01:12:05,279 --> 01:12:11,827
crisis and bubble,
you can still find gems
1582
01:12:08,114 --> 01:12:13,244
within certain locations.
I'm sure there is still a
1583
01:12:13,244 --> 01:12:16,414
a bargain to be had here
and there and probably
1584
01:12:16,414 --> 01:12:19,835
lots of places as well.
That being said, you know,
1585
01:12:19,835 --> 01:12:24,422
big things do change stuff.
Olympics coming here
1586
01:12:21,337 --> 01:12:26,466
to Brisbane in ten,
nine years time, that's possibly
1587
01:12:25,591 --> 01:12:28,926
going to change
like a whole lot of shit
1588
01:12:26,466 --> 01:12:31,930
for the three
or four years around that
1589
01:12:28,926 --> 01:12:34,975
in terms of rent,
in terms of buying because just
1590
01:12:35,141 --> 01:12:36,685
that's just going
to make things weird.
1591
01:12:36,685 --> 01:12:38,729
Then, you know, you just
have to deal with that.
1592
01:12:38,729 --> 01:12:42,940
If you are the 18 year old
at this moment
1593
01:12:40,814 --> 01:12:44,568
listening to this podcast
and then going like, shit,
1594
01:12:44,568 --> 01:12:47,195
I want to buy property
in six years time. And it's like,
1595
01:12:47,195 --> 01:12:48,822
shit, Brisbane's
getting the Olympics. Like,
1596
01:12:48,822 --> 01:12:50,908
is this going to factor
into decision making?
1597
01:12:50,908 --> 01:12:55,537
Yeah, we'll probably,
probably will have some
1598
01:12:52,201 --> 01:12:57,706
sort of impacts to have.
For myself personally,
1599
01:12:55,621 --> 01:12:59,375
I don't know.
What Do you ever see me
1600
01:12:57,706 --> 01:13:03,670
owning a home? Can you ever see
in a home? I just. I don't know.
1601
01:13:03,670 --> 01:13:05,255
I don't know.
It's up in the air for me.
1602
01:13:05,255 --> 01:13:06,547
There's
only there's only one way.
1603
01:13:06,547 --> 01:13:08,966
There's only one way car
and will be owning a home
1604
01:13:08,966 --> 01:13:12,845
with furniture. And that'll be.
Yeah, I get with the person
1605
01:13:12,845 --> 01:13:16,934
that's probably the baby.
Yeah. Yeah. Or at the very least,
1606
01:13:14,806 --> 01:13:17,684
like, nice furniture.
Yeah. It'll be.
1607
01:13:17,684 --> 01:13:19,603
It'll be your partner
Slash having a kid
1608
01:13:19,603 --> 01:13:21,396
that's the only thing
that's going man.
1609
01:13:21,396 --> 01:13:25,149
Man, I hope she's got
an interior design because
1610
01:13:25,234 --> 01:13:28,987
if it's up to me, it's up to me.
It's not going to look
1611
01:13:27,194 --> 01:13:30,823
pretty. Now.
I Lucked out on that.
1612
01:13:28,987 --> 01:13:32,949
I'm locked up.
Yeah, I was outside
1613
01:13:30,823 --> 01:13:35,243
and someone did, actually.
Yeah, you. Did.
1614
01:13:32,949 --> 01:13:36,412
The place looks nice.
It's not because of me. Yeah, it.
1615
01:13:36,412 --> 01:13:39,081
It looks shit. It's
because of me. Yeah. Yeah, it's.
1616
01:13:39,081 --> 01:13:40,832
It's not. It's not. It's
not because of me.
1617
01:13:40,832 --> 01:13:43,752
It's in spite of me. Yeah, except
things are looking. Yeah, yeah.
1618
01:13:43,752 --> 01:13:46,087
Yeah. Your house was very,
very nice. Which.
1619
01:13:46,087 --> 01:13:49,216
And some triggered this.
Some reason for diving it.
1620
01:13:49,216 --> 01:13:52,845
It was fun. I enjoyed.
I enjoyed an episode where it was
1621
01:13:52,845 --> 01:13:55,305
a bit more concrete
than than the last couple
1622
01:13:55,305 --> 01:14:01,520
that we've got. So this was good
in terms of
1623
01:13:58,516 --> 01:14:03,313
if someone is listening,
you know, that young
1624
01:14:03,396 --> 01:14:05,231
18 year old Australian and
they wanted to know more
1625
01:14:05,231 --> 01:14:08,734
about like investing in property
or how to think about it,
1626
01:14:08,734 --> 01:14:10,069
you'd recommend
the property catch.
1627
01:14:10,069 --> 01:14:14,240
And I'd probably counsel really.
When I listen to them,
1628
01:14:11,195 --> 01:14:15,242
it seem to make sense.
They seem to focus on
1629
01:14:15,242 --> 01:14:18,619
like fundamentals
and rules of thumbs
1630
01:14:18,703 --> 01:14:22,332
and in a logical way.
So that's in pretty good.
1631
01:14:22,332 --> 01:14:25,836
Any other recommendations
you've had over the Buy
1632
01:14:25,836 --> 01:14:29,965
Ones master spreadsheet
and the one grand? But honestly,
1633
01:14:28,296 --> 01:14:32,341
I would say just just just from
an interesting perspective, it's
1634
01:14:32,341 --> 01:14:35,970
just looking at the raw data,
like just going
1635
01:14:33,969 --> 01:14:37,514
and checking out stories.
I will say the column or
1636
01:14:37,514 --> 01:14:41,726
whatever other website
out there, just,
1637
01:14:39,224 --> 01:14:45,146
just looking at again,
suburbs, location prices ran
1638
01:14:45,229 --> 01:14:47,565
on stating the fundamentals,
understanding like, okay, cool.
1639
01:14:47,565 --> 01:14:50,485
The, you know,
the return on investment
1640
01:14:48,900 --> 01:14:52,904
for this particular
suburb is around this
1641
01:14:50,485 --> 01:14:55,282
and that difference
for units and difference
1642
01:14:52,904 --> 01:14:57,826
for housings and whatnot.
And then a little
1643
01:14:55,282 --> 01:14:59,243
to get you a bit more of,
just find where all of these
1644
01:14:59,243 --> 01:15:03,247
sources of information. In fact,
I had a conversation with a close
1645
01:15:01,497 --> 01:15:06,042
friend of mine
maybe three months ago where
1646
01:15:04,248 --> 01:15:07,502
they were looking to buy
a property maybe in the not too
1647
01:15:07,502 --> 01:15:10,046
distant future, is it?
Can you come around
1648
01:15:08,795 --> 01:15:10,506
and have a conversation?
I mean, just maybe
1649
01:15:10,506 --> 01:15:13,884
just say with me,
what are the things you like
1650
01:15:12,423 --> 01:15:15,886
where you would look?
I mean, I spend
1651
01:15:13,884 --> 01:15:16,929
like 2 hours being like,
look at this.
1652
01:15:16,929 --> 01:15:19,597
Looking at this. Yes.
There is so many things
1653
01:15:19,597 --> 01:15:21,265
you can look into from
a property perspective.
1654
01:15:21,265 --> 01:15:24,770
And so I just say.
And is. It just. Is there to look
1655
01:15:24,770 --> 01:15:27,980
is there a point as well
where you just have to go?
1656
01:15:28,064 --> 01:15:32,444
I can't look
into all of these things. I just
1657
01:15:30,192 --> 01:15:35,113
need to buy something. Know, you
kind of you can discern
1658
01:15:35,113 --> 01:15:36,573
what's the most
critical value tonight
1659
01:15:36,573 --> 01:15:40,284
at which stage of the game.
You know, if you're just looking
1660
01:15:38,951 --> 01:15:42,954
right and you go for the most
important things, catchment,
1661
01:15:42,954 --> 01:15:45,248
distance of work,
these sort of things
1662
01:15:45,248 --> 01:15:47,292
value, assets
gentefied to the suburb.
1663
01:15:47,292 --> 01:15:50,170
What do you want? Okay, cool.
That takes the boxes when you go
1664
01:15:49,252 --> 01:15:52,421
to the next set
or you're looking into
1665
01:15:50,170 --> 01:15:53,631
individual property. Cool.
Is it on the street?
1666
01:15:53,631 --> 01:15:56,510
You're looking at this
particular property. Okay.
1667
01:15:54,925 --> 01:15:58,177
Is the least expensive.
The most expensive
1668
01:15:56,510 --> 01:15:59,136
has had renovations.
The renovations.
1669
01:15:59,136 --> 01:16:01,222
What are the like of
for Queensland?
1670
01:16:01,222 --> 01:16:03,100
What's the statistics
from crime perspective?
1671
01:16:03,100 --> 01:16:04,725
You can look for crimes
on the street.
1672
01:16:04,725 --> 01:16:06,770
Has it been renovated?
Can you do a subdivision?
1673
01:16:06,770 --> 01:16:10,023
Does it need a subdivision?
Is it being resigned?
1674
01:16:10,023 --> 01:16:11,692
Is there a bushfire? Is it
flooding?
1675
01:16:11,692 --> 01:16:14,110
Is all this sort of stuff cool?
Then you go to the house. This is
1676
01:16:14,110 --> 01:16:19,323
this is actually exactly why
I should have included it
1677
01:16:15,820 --> 01:16:20,658
in my negatives. A lot of that
there's a law.
1678
01:16:20,658 --> 01:16:24,621
You can't diversify.
You have to pick one place.
1679
01:16:24,621 --> 01:16:27,832
Basically, if you if you buy
what the average person
1680
01:16:26,622 --> 01:16:29,292
is going to do,
they're going to buy one home.
1681
01:16:29,292 --> 01:16:33,462
So you have to pick one. Yep.
And you just listed off
1682
01:16:33,462 --> 01:16:36,048
everything
that could go wrong or.
1683
01:16:36,048 --> 01:16:37,426
Be if more and more.
And then yeah,
1684
01:16:37,426 --> 01:16:40,304
when you're looking
to individuals Masa Tong
1685
01:16:40,304 --> 01:16:43,599
and it's like if your office
yes on bond you don't know
1686
01:16:41,430 --> 01:16:46,475
these things did
easement location of the pipes
1687
01:16:44,890 --> 01:16:48,185
location of the gas pipe location
to your water metres.
1688
01:16:48,185 --> 01:16:51,023
Yeah well sort of things
that we're talking
1689
01:16:49,186 --> 01:16:52,106
about property next door
about building
1690
01:16:51,023 --> 01:16:54,318
something like that. Again it's
looking into the council.
1691
01:16:54,318 --> 01:16:56,235
Can you build such a thing.
Can all of this stuff,
1692
01:16:56,235 --> 01:16:58,779
all of that factors into it.
And yeah, I feel, I mean first
1693
01:16:58,779 --> 01:17:01,824
I'm going to do something you
she didn't realise about this.
1694
01:17:01,824 --> 01:17:03,909
Well yeah,
there's a lot of things
1695
01:17:02,743 --> 01:17:05,412
that can go wrong.
Yeah, definitely. Definitely.
1696
01:17:05,412 --> 01:17:09,166
All right. We'll end it
there for today. Thank you
1697
01:17:07,663 --> 01:17:12,293
everyone, for joining in.
This is a Value
1698
01:17:09,166 --> 01:17:14,212
for Value podcast,
which essentially means
1699
01:17:12,336 --> 01:17:16,840
that we provide
all this value here
1700
01:17:14,212 --> 01:17:18,634
for you free of charge.
You can get this whenever,
1701
01:17:16,840 --> 01:17:20,385
whenever you want,
however you want, through
1702
01:17:18,634 --> 01:17:23,262
whatever medium. That's very much
our model here. We just ask that
1703
01:17:23,262 --> 01:17:24,930
you return that value
in some form
1704
01:17:24,930 --> 01:17:28,685
into this in time, talent
or treasure time. Share
1705
01:17:27,141 --> 01:17:31,020
this show with someone
who you think would be worthy of
1706
01:17:31,020 --> 01:17:35,567
of tuning into who might find
some interest it of buying
1707
01:17:32,855 --> 01:17:37,653
a home in Australia.
Who's wondering. You know.
1708
01:17:37,653 --> 01:17:39,904
How do I do it? What's some good
resources?
1709
01:17:39,904 --> 01:17:42,448
Well, some things to think about.
One just listed a whole ton,
1710
01:17:42,448 --> 01:17:45,618
so you could also reach out to us
and one in particular,
1711
01:17:45,618 --> 01:17:48,372
and he'll be able to help you out
with some of that talent.
1712
01:17:48,372 --> 01:17:52,292
If you are,
I'll do a little plug for
1713
01:17:50,207 --> 01:17:54,043
some of the other shows
that I'm doing at the moment.
1714
01:17:54,043 --> 01:17:59,675
So with the book reviews,
I'm kind of looking for a back up
1715
01:17:59,841 --> 01:18:02,176
voice actor
to read out some quotes
1716
01:18:02,176 --> 01:18:05,889
because inevitably at some stage
coal is going to have
1717
01:18:04,095 --> 01:18:06,806
like a raspy voice
or is going to be sick
1718
01:18:06,806 --> 01:18:08,934
or it's going to go away
somewhere. And it would be nice
1719
01:18:08,934 --> 01:18:10,476
to have like a backup
person to call upon.
1720
01:18:10,476 --> 01:18:13,479
So if you are interested
in reading out some quotes
1721
01:18:13,729 --> 01:18:17,359
produced, all you need
is a microphone and yeah,
1722
01:18:17,442 --> 01:18:21,404
10 minutes of time roughly.
And if you're interested
1723
01:18:18,777 --> 01:18:23,198
in doing it, just let me know.
I would love to have
1724
01:18:23,198 --> 01:18:27,327
a little backup on on call
if if that ever happens to call.
1725
01:18:27,327 --> 01:18:30,663
And then I treasure
which is where you
1726
01:18:30,788 --> 01:18:33,041
send in a boosta
Gram, we've already about
1727
01:18:33,041 --> 01:18:34,417
how you can do this way
you can do this.
1728
01:18:34,417 --> 01:18:38,337
So just reiterating
the point that whatever
1729
01:18:38,337 --> 01:18:41,091
value you get from the show,
we just offset your return.
1730
01:18:41,091 --> 01:18:44,636
Whatever you think worth
so the value can change.
1731
01:18:44,636 --> 01:18:48,515
There's probably
not going to be a boosta
1732
01:18:45,261 --> 01:18:50,559
gram crisis anytime soon
because you can
1733
01:18:48,515 --> 01:18:52,269
just send in more or send
unless it's a it's totally fine.
1734
01:18:52,269 --> 01:18:57,149
So we do have a big call out
at the end of the month
1735
01:18:54,938 --> 01:19:00,735
for everyone who's done this.
If you go on to that same link
1736
01:18:58,899 --> 01:19:02,319
I talked before Miyamoto's
podcast dot com such support
1737
01:19:02,319 --> 01:19:04,905
we can show how you can
get a T-shirt from there.
1738
01:19:04,905 --> 01:19:08,868
If you send in
hundreds out a hundred
1739
01:19:06,198 --> 01:19:09,994
thousand sets or more,
which is the equivalent of
1740
01:19:09,994 --> 01:19:15,583
about 65 Australian
at this very moment. And also
1741
01:19:14,291 --> 01:19:16,126
a little leaderboard
down the bottom.
1742
01:19:16,126 --> 01:19:18,545
So where you can see
your place in the list
1743
01:19:18,545 --> 01:19:21,338
and I want to do some more things
with that in the future.
1744
01:19:21,338 --> 01:19:26,136
And then if you're completely new
to all of this and you like
1745
01:19:24,384 --> 01:19:27,386
what's a Satoshi,
how do I send the boost to Gram?
1746
01:19:27,386 --> 01:19:30,347
What do I do This
I've got a little
1747
01:19:28,637 --> 01:19:34,101
onboarding experience
for you on that same page
1748
01:19:30,347 --> 01:19:37,396
there as well, where
I've got a wallet,
1749
01:19:34,185 --> 01:19:39,524
a little click, a link
that you can click
1750
01:19:37,396 --> 01:19:41,193
or a QR code either
either work perfectly
1751
01:19:41,193 --> 01:19:44,695
and this will take you
to a location where you can get
1752
01:19:42,652 --> 01:19:47,615
your first set.
Once again, it's all
1753
01:19:44,695 --> 01:19:48,324
getting so much easier.
This is brilliant
1754
01:19:48,324 --> 01:19:50,534
because I was playing
around with Muun
1755
01:19:50,534 --> 01:19:53,537
the other day and I was.
Going back from Clean.
1756
01:19:53,537 --> 01:19:57,042
It was so easy, man.
So essentially what I was doing
1757
01:19:57,042 --> 01:20:02,631
was just converting from
Bitcoin on the lightning
1758
01:19:59,211 --> 01:20:05,007
back to on chain.
And yeah, it's, it,
1759
01:20:05,007 --> 01:20:08,511
it was really, really nice
experience compared to.
1760
01:20:08,595 --> 01:20:10,346
What you've had to deal with.
But yeah, like,
1761
01:20:10,346 --> 01:20:12,224
well it goes about like
two and a half years ago
1762
01:20:12,224 --> 01:20:14,309
now when we were first
playing around with this stuff
1763
01:20:14,309 --> 01:20:18,229
and it was, it was hard.
It was really hard. So yeah,
1764
01:20:16,685 --> 01:20:20,815
things are getting easier.
So not to worry if this is
1765
01:20:18,229 --> 01:20:22,650
all still confusing
to you, that's cool.
1766
01:20:20,815 --> 01:20:23,902
Well, we'll wait.
There's also the paper out
1767
01:20:23,902 --> 01:20:27,029
and the scientists, scientists.
On the house.
1768
01:20:27,029 --> 01:20:29,824
So it's plenty of options.
And just some data I'd like.
1769
01:20:29,824 --> 01:20:35,663
To. Show is show, is it?
It can be. Yeah.
1770
01:20:32,368 --> 01:20:36,288
Dates in the mail place.
Aren't going to leave they
1771
01:20:36,288 --> 01:20:38,875
thank you very much for tuning in
especially if you're
1772
01:20:37,122 --> 01:20:40,961
tuning in. Live. In Australian
Eastern Standard Time.
1773
01:20:40,961 --> 01:20:43,587
You can always join us on YouTube
as mentioned earlier as well.
1774
01:20:43,587 --> 01:20:46,006
We are going to be going
live as well on the audios
1775
01:20:46,006 --> 01:20:48,260
in the not too distant future.
Stick around, of course,
1776
01:20:48,260 --> 01:20:49,426
for all the good stuff
is going to be
1777
01:20:49,426 --> 01:20:52,264
coming out of the models here,
but for now I'm going to
1778
01:20:50,804 --> 01:20:54,975
leave it there any more.
Let's take it very much,
1779
01:20:52,264 --> 01:20:54,975
Juan out, Kyrin out.
00:00:04,753 --> 00:00:11,010
Kyrin Down & Juan Grana: Welcome
Mere Mortalites
2
00:00:07,841 --> 00:00:12,345
to another episode of Mere
mortals Musings.
3
00:00:12,345 --> 00:00:14,723
You've got two Mere
mortals here, Kyrin
4
00:00:14,723 --> 00:00:20,019
Juan on the other side.
On the 13th of December
5
00:00:16,056 --> 00:00:22,689
2023, live as usual,
7 p.m., Australian
6
00:00:20,019 --> 00:00:25,567
Eastern Standard Time.
We would love for you
7
00:00:22,689 --> 00:00:27,484
to come and join us.
At the moment
8
00:00:25,567 --> 00:00:29,111
is just on the YouTube,
but hopefully
9
00:00:27,484 --> 00:00:30,071
in the next month or two
I'll be able to get this on
10
00:00:30,071 --> 00:00:34,283
the podcasting apps as well.
So yeah, YouTube at the moment.
11
00:00:34,283 --> 00:00:37,746
More to come in the Future
Musings episode is where we dive
12
00:00:37,746 --> 00:00:40,122
deep into a particular
topic, a theme,
13
00:00:40,122 --> 00:00:43,625
and we expand upon
that practical philosophy,
14
00:00:43,625 --> 00:00:45,878
effective philosophy.
So this is really
15
00:00:45,878 --> 00:00:49,173
implementing things
that might be out
16
00:00:47,255 --> 00:00:50,591
in the airy fairy world
and bringing them down
17
00:00:49,173 --> 00:00:53,969
to the real life. And today
I trust today's topic button ones
18
00:00:53,969 --> 00:00:55,262
probably going to be doing
most of the talking.
19
00:00:55,262 --> 00:01:01,853
I hope so. I hope so. And this is
because we went to
20
00:00:57,765 --> 00:01:03,438
a little barbecue house
gathering this. Barbecue.
21
00:01:03,438 --> 00:01:07,608
And it was actually
Wan's not housewarming,
22
00:01:04,313 --> 00:01:09,402
but pre-hospital. Let's be clear
not house warming a.
23
00:01:09,402 --> 00:01:12,280
Pre housewarming pre house
so it was a couple of friends,
24
00:01:12,280 --> 00:01:16,409
mostly old high school friends
plus one or two others
25
00:01:16,409 --> 00:01:19,745
getting together and I had
a look around the house.
26
00:01:19,870 --> 00:01:23,957
Very, very nice house
was beautiful place,
27
00:01:21,664 --> 00:01:25,501
beautiful family. And I thought,
you know, one's
28
00:01:25,501 --> 00:01:29,213
probably gone through
what Rod and I how much,
29
00:01:27,796 --> 00:01:32,174
how much effort would you,
how many hours would
30
00:01:29,213 --> 00:01:35,804
you have dedicated over
the last six months to a
31
00:01:32,174 --> 00:01:37,221
to buying this property.
Would you say.
32
00:01:37,221 --> 00:01:41,225
It's only two a day.
Something like that. The Tuesday.
33
00:01:41,225 --> 00:01:43,477
Yeah, I probably said that today
for like six months. Yeah.
34
00:01:43,477 --> 00:01:46,313
So, so that's like racked up
quite a few hours
35
00:01:44,771 --> 00:01:48,858
just straight up that. Yeah.
That's couple of hundred
36
00:01:46,647 --> 00:01:50,442
hours of a research.
And I have known in the past
37
00:01:50,442 --> 00:01:53,780
one has bought a property
before so he's not a
38
00:01:53,947 --> 00:01:58,951
complete newbie to this so yeah.
Get into I suppose all things
39
00:01:56,950 --> 00:02:02,204
related to Australian property
in particular. That's, that's
40
00:02:00,286 --> 00:02:04,331
what one definitely knows.
But also just the general
41
00:02:04,331 --> 00:02:06,042
financial decisions
of buying property,
42
00:02:06,042 --> 00:02:08,919
location, location,
that sort of thing.
43
00:02:08,919 --> 00:02:10,963
And I've even I'll
take the opposite side
44
00:02:10,963 --> 00:02:15,134
and I've got some negatives too.
Why you shouldn't
45
00:02:12,006 --> 00:02:16,385
buy property. okay. So where
should we start off on?
46
00:02:16,385 --> 00:02:17,302
What do you think's
a good starting
47
00:02:17,302 --> 00:02:19,848
well of this discussion?
When I was thinking about this
48
00:02:19,848 --> 00:02:21,974
coming into this
particular book now got no notes.
49
00:02:21,974 --> 00:02:24,018
But that's why you need
a night is all of
50
00:02:24,018 --> 00:02:29,691
it really is quite recent.
So yes, my family did
51
00:02:27,229 --> 00:02:31,985
purchase a new property
not too long ago
52
00:02:29,691 --> 00:02:34,111
and it really does come down to
and probably
53
00:02:32,526 --> 00:02:36,656
we're going to focus in
some of these bits
54
00:02:34,111 --> 00:02:38,866
above the conversation,
although you can obviously differ
55
00:02:38,866 --> 00:02:40,701
depending on
what you're looking at is
56
00:02:40,701 --> 00:02:43,913
and what I feel like
I'm using a lot in 2023
57
00:02:43,955 --> 00:02:47,667
is what you're optimising for.
So at least for me personally,
58
00:02:47,667 --> 00:02:50,086
you know, when I'm
looking at the house
59
00:02:50,086 --> 00:02:52,087
that we just purchased,
it was very much a, Hey,
60
00:02:52,087 --> 00:02:56,467
this is a family home, correct?
Family homes
61
00:02:54,465 --> 00:03:00,096
going to have X things,
Y things is you'll be more
62
00:02:56,467 --> 00:03:01,848
sentimental around.
my God, I want to have
63
00:03:00,221 --> 00:03:04,893
these views. I want to be able
to lay back and have these
64
00:03:03,056 --> 00:03:07,604
experiences,
you know, necessarily
65
00:03:04,893 --> 00:03:08,979
looking at the numbers apart
from making them work.
66
00:03:08,979 --> 00:03:12,817
So you can have it's.
Not as much of
67
00:03:09,938 --> 00:03:15,068
an investment decision.
all right. Maybe we can start off
68
00:03:13,193 --> 00:03:17,614
with this.
If you're a young family
69
00:03:15,068 --> 00:03:18,573
or you're,
you know, a young person
70
00:03:18,573 --> 00:03:21,617
and you're maybe looking
to buy your dream home
71
00:03:21,617 --> 00:03:24,621
and this is the home that
you want to live in for,
72
00:03:24,704 --> 00:03:26,622
let's just say the next
ten years or something,
73
00:03:26,622 --> 00:03:32,961
maybe even longer, 20, 20, 30.
How much of that decision
74
00:03:29,292 --> 00:03:35,088
making is based on
it as an investment, as in
75
00:03:35,088 --> 00:03:37,633
you'll be able to sell it
for more in the future
76
00:03:37,633 --> 00:03:42,430
or it'll hold some sort of
like the financial
77
00:03:39,843 --> 00:03:45,182
sort of aspect of it
and even in the buying of
78
00:03:42,430 --> 00:03:48,436
it versus the low station,
the amenities close to it,
79
00:03:48,436 --> 00:03:50,520
the type of neighbourhood
it's in, that sort of thing.
80
00:03:50,520 --> 00:03:52,522
What do you, what,
how much of you would,
81
00:03:52,522 --> 00:03:55,568
would you say was like looking
at economics, finances,
82
00:03:55,568 --> 00:04:00,114
this is what
needs to happen versus it's got
83
00:03:58,195 --> 00:04:02,157
to like nice school here.
I can see the sunset from
84
00:04:00,114 --> 00:04:03,951
this location.
it's got to, you know,
85
00:04:02,157 --> 00:04:06,579
that's a river nearby.
But look, take, take the view of
86
00:04:06,579 --> 00:04:09,581
take a view of, of, of
housing as an investment.
87
00:04:09,665 --> 00:04:13,502
So purely on the drop
away, all the other stuff
88
00:04:13,502 --> 00:04:15,128
that we can get
into the variable, I'll just
89
00:04:15,128 --> 00:04:17,507
say one of the variables
that you probably are looking
90
00:04:17,507 --> 00:04:19,300
from a housing perspective
now, but
91
00:04:19,300 --> 00:04:21,927
purely from an investment,
I think for a very long time.
92
00:04:21,927 --> 00:04:26,223
Yeah, you can go back
100,000 years
93
00:04:23,637 --> 00:04:28,475
in terms of owning assets,
owning land, owning big things.
94
00:04:28,475 --> 00:04:30,185
That was always a valuable
thing and thing.
95
00:04:30,185 --> 00:04:32,562
It continues to be
valuable in any way, shape
96
00:04:32,562 --> 00:04:34,524
home, saying it's
obviously not a valuable
97
00:04:34,524 --> 00:04:36,108
or a thing
people should do, right?
98
00:04:36,108 --> 00:04:40,529
We can maybe talk about that with
the digital world coming upon us.
99
00:04:40,529 --> 00:04:43,865
However, you know,
if you to look at it very
100
00:04:43,949 --> 00:04:46,952
directly and say, I borrow
something from Ramit.
101
00:04:47,077 --> 00:04:52,083
Yeah. He says. This roommate
set it. Yeah. So with rent
102
00:04:52,083 --> 00:04:54,584
and do I agree completely
with all the stuff he talks about
103
00:04:54,584 --> 00:04:57,672
from a property perspective?
Not so much.
104
00:04:55,627 --> 00:04:59,007
So he's like a financial.
Yeah, he uses like. Kind of get.
105
00:04:59,007 --> 00:05:03,427
Rich, something like that Netflix
sort of show go on about money.
106
00:05:03,427 --> 00:05:04,721
He actually had a back
and forth conversation
107
00:05:04,721 --> 00:05:05,805
with me on Twitter
just the other day.
108
00:05:05,805 --> 00:05:08,473
I was kind of debating him
about some of this money.
109
00:05:08,473 --> 00:05:11,978
shit. Like it was coconut.
I had a lot of people back me up,
110
00:05:11,060 --> 00:05:12,562
which was interesting.
Okay, good.
111
00:05:12,562 --> 00:05:16,315
But the Michael I do agree
with is when you rent,
112
00:05:16,399 --> 00:05:19,694
that's the minimum amount.
Minimum amount
113
00:05:18,358 --> 00:05:21,612
that you're going to be
paying on a basic
114
00:05:19,694 --> 00:05:23,740
or fortnightly basis.
Well, when you own a home,
115
00:05:23,740 --> 00:05:27,535
the loan is the sorry you're
renting maximum amount,
116
00:05:27,535 --> 00:05:28,452
you're going
to pay the week to week.
117
00:05:28,452 --> 00:05:30,620
Yeah, I was going to say.
From a homeland perspective,
118
00:05:30,620 --> 00:05:33,624
it's the minimum
you going to pay. Obviously
119
00:05:32,081 --> 00:05:34,959
there's lots of other fees
as maintenance, whatever, right?
120
00:05:34,959 --> 00:05:38,254
So there's that aspect of
looking at it
121
00:05:36,543 --> 00:05:39,463
from okay, investment.
There's all the things
122
00:05:38,254 --> 00:05:40,714
that's hidden.
About as one of my points.
123
00:05:40,714 --> 00:05:42,675
But the the other one
around with investment
124
00:05:42,675 --> 00:05:45,677
I think people need to realise is
and of course digital
125
00:05:43,925 --> 00:05:47,512
things have changed. There's
things like Bitcoin or NFT
126
00:05:47,512 --> 00:05:48,723
or whatever else
you want to have.
127
00:05:48,723 --> 00:05:52,601
Look at if you're
purchasing a house
128
00:05:52,601 --> 00:06:00,108
purely on an investment
perspective, I think be in
129
00:05:55,771 --> 00:06:01,778
the know how that it's a
low. It's sort of
130
00:06:01,778 --> 00:06:04,572
on the end of okay,
it's a slightly safer bet,
131
00:06:04,572 --> 00:06:07,324
but with a less return
on your investment
132
00:06:07,324 --> 00:06:09,160
than other things
that could eventuate.
133
00:06:09,160 --> 00:06:13,706
Yes, all those have higher risk.
However, if you're looking
134
00:06:11,454 --> 00:06:14,831
at that too,
I'm going to purchase properties
135
00:06:14,831 --> 00:06:19,586
and I'm going to become
quite wealthy. That's the long.
136
00:06:16,834 --> 00:06:20,463
Yeah, okay.
Nothing wrong to that.
137
00:06:20,463 --> 00:06:22,214
Obviously people
obviously have built up,
138
00:06:22,214 --> 00:06:24,300
you know, great portfolios
doing in that,
139
00:06:24,300 --> 00:06:26,052
but obviously you wouldn't
go into the path of,
140
00:06:26,052 --> 00:06:27,552
hey, I'm going to buy this
investment property
141
00:06:27,552 --> 00:06:29,721
in five years. I'm
going over time. Yeah.
142
00:06:29,721 --> 00:06:34,394
Probably one off the top
of my head. Just in terms
143
00:06:32,016 --> 00:06:35,812
of the general
investing and finances,
144
00:06:35,812 --> 00:06:38,814
I'm looking at this
on a decades long scale,
145
00:06:38,898 --> 00:06:41,401
maybe even longer,
like hundreds of years
146
00:06:41,401 --> 00:06:44,612
long scale. I believe
the general return of investments
147
00:06:44,612 --> 00:06:48,574
and some of these are super new.
So obviously you can't
148
00:06:45,737 --> 00:06:49,658
measure Bitcoin because
it's only a decade old.
149
00:06:49,658 --> 00:06:53,454
But I believe it was like,
you know, cash is the worst
150
00:06:53,454 --> 00:06:57,375
that actively dissipates
and goes down.
151
00:06:57,458 --> 00:07:00,670
Bonds So buying into
the government is
152
00:07:00,670 --> 00:07:02,629
will give like a couple
of percent
153
00:07:02,629 --> 00:07:08,927
per year on average over
many years. I think it was then
154
00:07:05,925 --> 00:07:12,223
something like housing
would be no for Irish percent
155
00:07:12,223 --> 00:07:15,225
or something like that.
And then I'd think
156
00:07:13,141 --> 00:07:18,187
equities or stocks
and things like that are
157
00:07:15,225 --> 00:07:20,355
closer to like 6 to 8%.
I could be totally wrong
158
00:07:18,187 --> 00:07:22,358
here, but. I. Don't think I'm
totally wrong. Yeah,
159
00:07:22,358 --> 00:07:24,235
so the numbers
might not be exact,
160
00:07:24,235 --> 00:07:27,279
but I believe that was the
kind of general ranking
161
00:07:25,194 --> 00:07:28,029
order. Sure.
And we're not going to get
162
00:07:28,029 --> 00:07:31,742
into like the you
you can make calls off
163
00:07:31,826 --> 00:07:33,369
if you've got property,
you're leveraging
164
00:07:33,369 --> 00:07:35,954
money off the bank or sometimes
you can't leverage money
165
00:07:35,954 --> 00:07:39,875
for some of the other assets.
Plain simple, though, you know,
166
00:07:38,708 --> 00:07:42,170
the particular pictures
that I went in,
167
00:07:39,875 --> 00:07:44,588
there wasn't a whole lot.
If there's going to be investment
168
00:07:42,502 --> 00:07:46,507
numbers or thinking about
I was really looking at it
169
00:07:44,588 --> 00:07:51,345
from a again, 5 to 10% ratio,
It was, yes, I understand
170
00:07:49,134 --> 00:07:54,264
what I'm purchasing in terms
of the valuation of
171
00:07:51,762 --> 00:07:56,184
the area and the location,
but as an investment investment,
172
00:07:56,184 --> 00:07:59,562
there wasn't a whole host.
So what I bet I
173
00:07:59,562 --> 00:08:02,355
in fact I only saw it
because it popped up somewhere
174
00:08:02,355 --> 00:08:05,233
like two days ago.
I wouldn't have any clue
175
00:08:03,190 --> 00:08:06,569
how much I would rent it
not and I guess I wasn't
176
00:08:06,569 --> 00:08:08,528
the intended
the place Euro. Place.
177
00:08:08,528 --> 00:08:11,656
Thinking to rent it out,
but I just never even
178
00:08:09,988 --> 00:08:13,117
looked into those numbers.
200 bucks a week. That's not.
179
00:08:13,117 --> 00:08:15,745
I'll give you a. Hundred
bucks, folks. That's
180
00:08:14,951 --> 00:08:17,497
how much it would cost
to still a market declining.
181
00:08:17,497 --> 00:08:19,831
But, you know,
if you go and have a look,
182
00:08:19,831 --> 00:08:22,959
I've got a spreadsheet
with like a few big fat
183
00:08:22,959 --> 00:08:27,298
spreadsheet, like a Ramos
a spreadsheet face Master Excel
184
00:08:25,504 --> 00:08:30,259
spreadsheet. Huge. So many tabs.
Some of those tabs
185
00:08:28,423 --> 00:08:31,384
in terms of property. So in each
one of the properties
186
00:08:31,384 --> 00:08:36,515
as a whole, breakdown
of every single expense
187
00:08:32,845 --> 00:08:38,142
costs rent predicted.
I've got like a ten year.
188
00:08:38,142 --> 00:08:41,187
How much it look like, you know,
is it going to be up
189
00:08:39,184 --> 00:08:43,230
and down in a ten year cycle,
all this sort of stuff,
190
00:08:43,313 --> 00:08:45,399
Some of those,
but yeah, probably that.
191
00:08:45,399 --> 00:08:47,192
I have another investment
perspective.
192
00:08:47,192 --> 00:08:49,070
You better believe I'm
looking at the numbers.
193
00:08:49,070 --> 00:08:50,488
I didn't give a shit
any more about,
194
00:08:50,488 --> 00:08:53,407
Well, is it facing east
and when does the sun go up
195
00:08:53,407 --> 00:08:55,451
and is it making too much noise?
Because I'm not think
196
00:08:55,451 --> 00:08:58,955
it's more very particular
to the numbers and how it works
197
00:08:57,662 --> 00:09:00,581
and the taxation
strategy and blah blah blah.
198
00:09:00,581 --> 00:09:05,211
So make it focus on it
for that particular for me more
199
00:09:05,211 --> 00:09:10,298
so it was the variables
of okay, it's moving into a home
200
00:09:07,504 --> 00:09:11,926
where the go 808 sites
particular going to be
201
00:09:10,298 --> 00:09:14,761
my forever home.
The sudden reasons okay, I'm
202
00:09:13,094 --> 00:09:16,389
just going to be home
for the next foreseeable future.
203
00:09:16,389 --> 00:09:17,932
Ten years, 15 years,
something like that
204
00:09:17,932 --> 00:09:19,600
that's probably going
to hit the market. Sorry.
205
00:09:19,600 --> 00:09:23,937
But those are looking at the
the living variables
206
00:09:21,519 --> 00:09:25,022
that actually make more
sense to look at
207
00:09:25,022 --> 00:09:27,732
is that as a family,
young family, anybody
208
00:09:27,732 --> 00:09:30,485
going to live somewhere? Okay.
I want to ask
209
00:09:29,025 --> 00:09:33,947
more about the event
and investment sort
210
00:09:30,485 --> 00:09:36,701
of financial things. But
for you, particularly
211
00:09:34,030 --> 00:09:37,951
when you bought this home,
how much of your decision
212
00:09:37,951 --> 00:09:40,955
making was based
on the finances versus
213
00:09:41,205 --> 00:09:44,375
all those other things
I was mentioning? You know,
214
00:09:42,581 --> 00:09:45,875
location, closeness
to schools, all those,
215
00:09:45,875 --> 00:09:48,129
all that sort of stuff
for you personally.
216
00:09:48,129 --> 00:09:50,548
So for everyone, I think
there's always a plot
217
00:09:50,548 --> 00:09:52,258
unless you literally
have like infinite money
218
00:09:52,258 --> 00:09:53,426
or a billionaire
or something like that.
219
00:09:53,426 --> 00:09:55,845
There is a cap where you want
to see your cell phone,
220
00:09:55,845 --> 00:09:58,764
whether it's I've got you
buying out of cash, loaning
221
00:09:58,764 --> 00:10:01,850
what up going to get,
I've got to a limit
222
00:09:59,889 --> 00:10:04,769
for a particular reason.
So finances wise, yeah,
223
00:10:01,850 --> 00:10:06,397
there's always going to be
some sort of constraint,
224
00:10:04,769 --> 00:10:07,856
which is good. More constraint
you have, the better it.
225
00:10:07,856 --> 00:10:10,692
Can be makes decision making is.
Yeah, he was an interesting one.
226
00:10:10,692 --> 00:10:11,818
You know, the first time
we purchased
227
00:10:11,818 --> 00:10:16,573
the property was in 2016.
Now earlier 2016, the 2016
228
00:10:16,573 --> 00:10:20,327
purchase our first property.
And this is jointly Yes.
229
00:10:20,327 --> 00:10:22,163
Yes. When we purchased
that property
230
00:10:22,163 --> 00:10:24,914
there were some hardcore
constraints. Okay.
231
00:10:24,914 --> 00:10:27,751
We didn't have much available.
Income wasn't great. Yeah.
232
00:10:27,751 --> 00:10:31,797
So the options were minimal.
That's that's
233
00:10:29,294 --> 00:10:33,506
one two years out of uni.
So this is like, you know.
234
00:10:33,506 --> 00:10:35,551
They had just started
making money.
235
00:10:35,551 --> 00:10:38,803
They're still paying off.
Mexico Hayek's, which is,
236
00:10:36,719 --> 00:10:39,846
you know, student
loans here in Australia.
237
00:10:39,846 --> 00:10:44,351
Those just it was cutting it bare
minimum was available.
238
00:10:44,434 --> 00:10:47,355
It made it kind of easier though,
because of those
239
00:10:46,062 --> 00:10:48,980
constraints. Right.
If you've only got
240
00:10:47,355 --> 00:10:50,649
the option of ten things,
well, you've got to shoot
241
00:10:48,980 --> 00:10:52,525
out of those ten things.
That's the best thing
242
00:10:50,649 --> 00:10:55,111
you can get, obviously.
Now, Tom, come forward.
243
00:10:52,525 --> 00:10:56,655
We've been fortunate.
There was a lot
244
00:10:55,111 --> 00:10:59,866
of options. Right?
And so finances, while obviously
245
00:10:58,240 --> 00:11:02,119
there was that constraint, it was
less of a constraint.
246
00:11:02,202 --> 00:11:04,663
And so because of that, we
had more problems in our hands.
247
00:11:04,663 --> 00:11:09,376
So to give you an idea,
in this process, yes,
248
00:11:07,500 --> 00:11:10,211
we've landed on a place
that we're living at now,
249
00:11:10,211 --> 00:11:12,754
which amazing, awesome,
really good we got there
250
00:11:12,754 --> 00:11:20,596
in that process. One, we, we
we actually won another property,
251
00:11:20,679 --> 00:11:23,014
so we want another property
where we put more money
252
00:11:23,014 --> 00:11:25,600
in than the second person,
but that they ended up went with
253
00:11:25,600 --> 00:11:28,937
the second person anyways.
We didn't like Latinos.
254
00:11:28,937 --> 00:11:30,980
I don't know what's going
on. The other property.
255
00:11:30,980 --> 00:11:33,734
We actually got it.
We have the contract will sign.
256
00:11:33,734 --> 00:11:36,861
We backed out of it for.
We can talk about the variables
257
00:11:36,861 --> 00:11:40,240
when you look at housing supply.
So we backed out
258
00:11:37,822 --> 00:11:43,284
for a particular reason.
A third one we were waiting for
259
00:11:43,284 --> 00:11:46,455
almost a month around. We thought
we had the highest price.
260
00:11:46,455 --> 00:11:48,164
Then we were glad that it didn't
end up going through.
261
00:11:48,164 --> 00:11:50,793
It had because of the
other issues
262
00:11:49,166 --> 00:11:53,796
that were around the area.
So, you know, finances definitely
263
00:11:53,796 --> 00:11:57,424
maybe put us in more strife
in the sense of
264
00:11:55,923 --> 00:11:59,927
we had more options. And so
with more options came
265
00:12:00,009 --> 00:12:02,053
more looking, more locations
that we could look at,
266
00:12:02,053 --> 00:12:03,431
more variations
of the properties,
267
00:12:03,431 --> 00:12:06,517
so we could look at all
the things that we could accept,
268
00:12:04,514 --> 00:12:08,727
not accept, etc..
And so that made it
269
00:12:06,517 --> 00:12:09,894
way more difficult.
So obviously played
270
00:12:09,894 --> 00:12:11,772
a part in the sense
that it made it
271
00:12:11,772 --> 00:12:15,400
gave us the availability
for more, but the availability
272
00:12:13,691 --> 00:12:17,278
for more made it harder
for us to then choose
273
00:12:15,400 --> 00:12:19,363
a particular thing. In the end,
the one that we ended up
274
00:12:17,861 --> 00:12:22,032
choosing, at least for family
perspective. Yes, finances.
275
00:12:22,032 --> 00:12:25,076
And I'm talking two parts.
There's purchasing.
276
00:12:25,076 --> 00:12:27,913
There's I guess if you think
like a business or anything else
277
00:12:27,913 --> 00:12:30,457
was a capital expenditure
of actually obtaining the asset.
278
00:12:30,457 --> 00:12:33,586
So did we have enough money
to obtain the asset? Cool.
279
00:12:33,586 --> 00:12:36,422
That's what we need. Awesome.
We go through that process
280
00:12:34,794 --> 00:12:38,923
and you know, if
you're buying a property,
281
00:12:36,422 --> 00:12:40,842
you're buying it
at least in Australia auction
282
00:12:39,884 --> 00:12:42,344
or you're buying it, you know,
on, on the market type of deal
283
00:12:42,344 --> 00:12:45,806
and you're paying for it,
you can have 30 day, 60 days
284
00:12:43,596 --> 00:12:46,307
whatever to sell. Cool.
That's a capital.
285
00:12:46,307 --> 00:12:48,808
You need the capital
to get the asset at your name.
286
00:12:48,808 --> 00:12:54,105
But then there is the ongoing
operational expenses that
287
00:12:51,102 --> 00:12:56,357
you have to incur, a.k.a.
maintenance, paying back a loan,
288
00:12:56,357 --> 00:12:58,527
paying whatever else
might be outstanding.
289
00:12:58,527 --> 00:13:02,447
You also have to consider,
okay, can we can you do that for
290
00:13:00,571 --> 00:13:04,158
the foreseeable future?
Can you do that if you have to
291
00:13:04,158 --> 00:13:06,284
go on a holiday, can you do that
if you don't get paid for
292
00:13:06,284 --> 00:13:09,705
two months, something like that.
So those both
293
00:13:07,202 --> 00:13:11,456
the consideration of
obtaining the asset capital
294
00:13:11,456 --> 00:13:13,918
and maintaining
the asset operational.
295
00:13:14,000 --> 00:13:17,504
Are so still an answer.
My question. So I'll let's say
296
00:13:17,504 --> 00:13:21,174
ratio was just
from your explanation 5050
297
00:13:21,424 --> 00:13:24,720
out of the you know, 50% is like
looking at the finances,
298
00:13:24,720 --> 00:13:27,222
looking at going, okay,
this is what I can afford.
299
00:13:27,222 --> 00:13:29,432
This is roughly
what's in the market.
300
00:13:29,432 --> 00:13:34,647
You know, this is how much
what's a bond or margin,
301
00:13:31,476 --> 00:13:37,566
what's a coping? Yeah,
the mortgage down payment.
302
00:13:37,566 --> 00:13:41,070
A down payment. This is
how much I'll have to
303
00:13:39,025 --> 00:13:43,029
do this, but I can
scrounge up myself
304
00:13:41,070 --> 00:13:45,407
between me and my partner.
And then it's also. okay.
305
00:13:45,407 --> 00:13:48,034
Like we've kind of got one,
you know, we're
306
00:13:46,908 --> 00:13:50,663
going forward on this.
And then it's like,
307
00:13:48,034 --> 00:13:52,081
it's in a floodplain.
I'm not sure
308
00:13:50,663 --> 00:13:55,083
I really want to do that.
Or What was the reason
309
00:13:52,081 --> 00:13:58,086
for you backing out of
one of those? Well, say,
310
00:13:56,000 --> 00:14:01,465
how much was it for?
Is it weighed
311
00:13:58,086 --> 00:14:03,424
in the sense of, okay,
maybe I'll put it this way,
312
00:14:03,424 --> 00:14:08,556
if in 2016 I had the option
of ten properties, we
313
00:14:04,677 --> 00:14:11,558
have the option now to buy
10,000, a thousand different,
314
00:14:11,558 --> 00:14:15,937
but we constricted
ourselves to like a narrow
315
00:14:15,937 --> 00:14:20,024
band in a more of the upper level
of what we can afford
316
00:14:20,024 --> 00:14:23,153
and then screwed ourselves over
because our expectation
317
00:14:21,360 --> 00:14:24,779
was, well, if we're paying
that much money, we can get
318
00:14:24,779 --> 00:14:28,283
all these things that we now
want and attributes of the house.
319
00:14:28,283 --> 00:14:31,995
And now the market has moves.
As you know, we're talking
320
00:14:30,285 --> 00:14:33,873
Australian market prices
have moved expectations
321
00:14:31,995 --> 00:14:35,499
and we talk more.
About that, you. Know,
322
00:14:34,331 --> 00:14:36,250
so then trying to say,
look, finances,
323
00:14:36,250 --> 00:14:39,253
I'll sell you like 50%
of a big amount of pots.
324
00:14:39,253 --> 00:14:43,090
So now you go to a place and go,
Wow, I'm going to buy in
325
00:14:41,297 --> 00:14:46,759
no matter what.
Because what I'll say
326
00:14:43,090 --> 00:14:48,470
that's like 5050 on a.
Good, good way
327
00:14:46,759 --> 00:14:49,929
to get screwed over if you go on
with that mentality.
328
00:14:49,929 --> 00:14:52,975
Okay, That's that's
kind of roughly
329
00:14:50,806 --> 00:14:55,019
what I was expecting. You know,
finance, it's a massive
330
00:14:55,019 --> 00:14:57,395
purchasing decision
and it's one that you
331
00:14:57,395 --> 00:15:01,817
lock in for a long time.
So you obviously do need to think
332
00:15:01,817 --> 00:15:04,653
about the finances,
about it pretty hard.
333
00:15:04,653 --> 00:15:08,032
But then I suppose in, you
know, lifestyle choices,
334
00:15:08,115 --> 00:15:11,118
you know, where you live
dictates a lot of things.
335
00:15:11,243 --> 00:15:15,038
I've been saying this recently
where it's just like I,
336
00:15:15,038 --> 00:15:17,791
I feel like I'm
in the middle of suburbia.
337
00:15:17,791 --> 00:15:20,461
It's weird because I'm close
to the city in some ways,
338
00:15:20,461 --> 00:15:24,673
but also not really.
It feels like I'm in suburbia
339
00:15:24,673 --> 00:15:31,721
here and it's definitely in terms
of just many aspects of my life.
340
00:15:31,721 --> 00:15:36,143
When I go out for a walk, when I
where I go out to train
341
00:15:36,143 --> 00:15:39,062
like people in the gym
that are meeting,
342
00:15:39,062 --> 00:15:42,191
they're all kind of like
in different life paths
343
00:15:42,191 --> 00:15:46,153
than where I am at the moment.
It's like,
344
00:15:43,274 --> 00:15:48,029
you know, this is maybe a
where I need to think
345
00:15:46,153 --> 00:15:49,322
about where I'm living
so I can maybe live somewhere
346
00:15:49,322 --> 00:15:51,283
that's more suited
to where I'm at currently
347
00:15:51,283 --> 00:15:54,662
in my lifestyle and
in my life. And that would
348
00:15:54,745 --> 00:15:58,164
just make things better
in terms of connecting
349
00:15:58,164 --> 00:16:01,418
with people, finding,
you know, a partner or,
350
00:16:01,626 --> 00:16:05,380
you know, even even
just like seeing family
351
00:16:02,378 --> 00:16:10,219
and things like this. Yeah, Yeah.
It would make it, it would be
352
00:16:08,174 --> 00:16:12,096
a pretty big decision
to move out as well and be like,
353
00:16:12,096 --> 00:16:13,721
okay, well,
where do I want to move?
354
00:16:13,721 --> 00:16:15,975
So that's roughly what
I was thinking recently.
355
00:16:15,975 --> 00:16:17,475
Like if I was going to
move out, I'd
356
00:16:17,475 --> 00:16:20,229
probably spend about 50%
of the time thinking about
357
00:16:20,229 --> 00:16:22,898
where can I afford rent
wise, what would be good?
358
00:16:22,898 --> 00:16:26,860
And then 50% would be
location, how close it is
359
00:16:24,942 --> 00:16:28,821
to the freeway
so I can go back home,
360
00:16:26,860 --> 00:16:32,157
how close it is to the places
I'd want to work out, or
361
00:16:32,240 --> 00:16:33,908
the normal things
I do in my life.
362
00:16:33,908 --> 00:16:36,703
Like how often do I go to
the city? Is it important
363
00:16:35,410 --> 00:16:37,538
to be close to that,
all that sort of stuff? Yeah.
364
00:16:37,538 --> 00:16:39,163
And I think, well,
that was going to be
365
00:16:39,163 --> 00:16:40,916
the other variables
in terms of okay,
366
00:16:40,916 --> 00:16:43,001
we talked about the
investment in the finances
367
00:16:43,001 --> 00:16:45,294
aspect of it,
but from a the other side
368
00:16:45,294 --> 00:16:46,629
and again,
this is obviously going
369
00:16:46,629 --> 00:16:49,716
to be very specific
to an individual and or
370
00:16:49,716 --> 00:16:55,014
the family or whatever
you are listening I'm right now
371
00:16:51,759 --> 00:16:57,725
what you care about but
it would be
372
00:16:55,096 --> 00:17:00,309
probably easiest to see
like in your life,
373
00:16:57,725 --> 00:17:02,645
what's the two,
three, four big things that you
374
00:17:02,645 --> 00:17:06,191
are routinely doing
or you love doing,
375
00:17:04,064 --> 00:17:07,901
or you want to do more
of what you care about
376
00:17:07,901 --> 00:17:11,154
and then finding the place
that's going to actually
377
00:17:11,238 --> 00:17:12,823
help you out
and doing a lot of things.
378
00:17:12,823 --> 00:17:16,535
Let's just say for me
a clear example. Hey Jim,
379
00:17:16,535 --> 00:17:18,703
I like to be fairly
close to the gym now.
380
00:17:18,703 --> 00:17:21,123
The place that we've moved
to, it's slightly closer,
381
00:17:21,123 --> 00:17:23,000
not altogether
that much more closer,
382
00:17:23,000 --> 00:17:24,876
but slightly closer to
when I was living there.
383
00:17:24,876 --> 00:17:26,377
Before I can get there
a little bit quicker,
384
00:17:26,377 --> 00:17:31,174
I could say, you know, I'm
improving that a little
385
00:17:27,712 --> 00:17:32,425
bit too big one for us.
It was okay.
386
00:17:32,425 --> 00:17:35,345
Future school catchment
and school locations. Okay, Well,
387
00:17:35,345 --> 00:17:38,015
we were before
probably not the schools
388
00:17:36,387 --> 00:17:39,307
we want to send
our little baby girl
389
00:17:38,015 --> 00:17:40,683
in the future.
Okay, now we have all.
390
00:17:40,683 --> 00:17:43,103
That's a huge thing right? School
catchments for families.
391
00:17:43,103 --> 00:17:45,980
Or if you're young, you're
going to look into that
392
00:17:45,980 --> 00:17:47,566
huge thing.
That's a massive thing.
393
00:17:47,566 --> 00:17:49,692
Obviously, if you want to be
in a particular catchment
394
00:17:48,232 --> 00:17:52,028
or particular area.
So catchment basically
395
00:17:49,692 --> 00:17:54,239
just means you have to be
within a certain
396
00:17:52,028 --> 00:17:55,240
radius of the school,
something like that, something.
397
00:17:55,240 --> 00:17:57,116
Like that
sometimes works of radius,
398
00:17:57,116 --> 00:17:59,327
sometimes it works
out of actual suburb like
399
00:17:59,327 --> 00:18:02,623
catchment areas and lines.
So obviously have to look into it
400
00:18:02,623 --> 00:18:05,792
that big pot work. Obviously
I had a conversation
401
00:18:05,792 --> 00:18:08,170
actually today about this
with someone where I was
402
00:18:08,170 --> 00:18:10,506
talking to them
about my new place
403
00:18:08,545 --> 00:18:12,340
and I said, Look, you comparison
to the old place,
404
00:18:12,340 --> 00:18:14,384
I'm probably saving
50 minutes this morning
405
00:18:14,384 --> 00:18:17,261
in that scenario in terms of me.
And while I'm I don't see so much
406
00:18:17,261 --> 00:18:20,766
because right now in Australia
being summer, it's
407
00:18:18,262 --> 00:18:24,394
quite like everything else
I went the super one
408
00:18:20,766 --> 00:18:26,355
when it comes to winter it
it will be kind of
409
00:18:24,478 --> 00:18:27,564
a deciding factor.
Still lets me get home.
410
00:18:27,564 --> 00:18:28,941
Well there's
a little bit of daylight
411
00:18:28,941 --> 00:18:30,275
still around
for most of the days.
412
00:18:30,275 --> 00:18:31,902
I'll go fantastic,
especially when there's
413
00:18:31,902 --> 00:18:35,196
like in the office.
But to each the thing
414
00:18:33,069 --> 00:18:36,490
at the moment
that definitely does enable,
415
00:18:36,490 --> 00:18:39,159
especially when working
a full day in the office
416
00:18:37,240 --> 00:18:42,162
or somewhere else.
It's what lets me get home
417
00:18:39,159 --> 00:18:43,830
and see my little girl
before she goes to sleep
418
00:18:42,162 --> 00:18:45,665
or in the morning.
So there's like that
419
00:18:43,830 --> 00:18:47,625
extra flexibility. So I get tick
because it's given me
420
00:18:46,458 --> 00:18:50,045
that extra time with family
in terms of closeness
421
00:18:50,045 --> 00:18:54,340
to from a work context. So yeah,
all of those variables
422
00:18:52,506 --> 00:18:57,009
for me are important.
Obviously for yourself,
423
00:18:54,340 --> 00:18:58,886
you probably say tight,
close proximity to
424
00:18:58,886 --> 00:19:00,556
a place that you can
work out or, you know,
425
00:19:00,556 --> 00:19:03,517
hang out with people
or enables you to
426
00:19:03,642 --> 00:19:07,395
stay socially connected.
I mean, there's
427
00:19:04,893 --> 00:19:09,772
effects, obviously,
but it doesn't necessarily
428
00:19:07,479 --> 00:19:12,859
I think as you probably
whatever you decide it is doesn't
429
00:19:10,816 --> 00:19:14,736
necessarily mean
that you have to go
430
00:19:12,859 --> 00:19:16,238
and purchase a house
and lock yourself away
431
00:19:16,238 --> 00:19:19,532
for the pure shy,
well, it's an investment
432
00:19:18,156 --> 00:19:20,826
and I get it.
It is an investment.
433
00:19:20,826 --> 00:19:24,121
It's obviously a very
safe, proven strategy.
434
00:19:24,121 --> 00:19:27,165
And yes, you can you can see
the clients in some things,
435
00:19:27,165 --> 00:19:29,542
but you can make a good
client for the reason of
436
00:19:29,542 --> 00:19:33,087
okay, assets in general,
probably not going to just
437
00:19:30,751 --> 00:19:36,008
absolutely get decimated
in comparison
438
00:19:33,087 --> 00:19:36,424
to other things. Fine.
But, you know,
439
00:19:36,424 --> 00:19:39,553
you can very simply rent out in
a place as you're
440
00:19:38,259 --> 00:19:42,181
talking about that
you really want to live in and
441
00:19:42,181 --> 00:19:45,642
don't invest the extra
that you might have
442
00:19:44,307 --> 00:19:47,435
had locked away or something else
into other ways
443
00:19:47,435 --> 00:19:50,521
and then recoup that money back.
I'm not sure you can do that.
444
00:19:50,521 --> 00:19:55,736
So I wouldn't say that
those other
445
00:19:53,317 --> 00:19:57,153
variables are important
and they might be so
446
00:19:55,736 --> 00:19:58,989
important that you kind of
deviate away from buying a house,
447
00:19:58,989 --> 00:20:01,240
buying the place
to just living in the area
448
00:20:01,240 --> 00:20:05,077
because those things are
a higher attribute to you. Yeah,
449
00:20:05,077 --> 00:20:06,747
I'll talk about the
investment side of things
450
00:20:06,747 --> 00:20:09,374
because that's that's something
I can add, which is,
451
00:20:09,374 --> 00:20:11,335
you know, why is Kyran
never owned a house?
452
00:20:11,335 --> 00:20:16,131
Why is they never owned property?
Why is he not even gotten
453
00:20:12,461 --> 00:20:19,218
close to it?
The closest I've gotten to
454
00:20:16,214 --> 00:20:23,137
anything was I listened
to probably five episodes
455
00:20:19,218 --> 00:20:25,641
of the Property Couch,
which is a podcast,
456
00:20:23,262 --> 00:20:28,644
an Australian podcast.
You would touch upon
457
00:20:25,641 --> 00:20:30,144
that later on, like. Come on,
the other guy's name is.
458
00:20:30,144 --> 00:20:31,605
And you should know
you've listened to a lot.
459
00:20:31,605 --> 00:20:33,356
Of things, so a lot of
that's. Embarrassing.
460
00:20:33,356 --> 00:20:36,234
I can't remember. That's,
that's pretty bad. Didn't
461
00:20:36,317 --> 00:20:39,779
look it up.
Got to call him out if,
462
00:20:37,861 --> 00:20:44,326
if you're doing that. But I'm
sorry I've all I've gotten
463
00:20:41,240 --> 00:20:45,285
here is a negatives
list and negatives
464
00:20:45,285 --> 00:20:50,164
and when I was mentioning before
and you know one thing
465
00:20:47,162 --> 00:20:53,376
like in terms of safeness
of your investment, I think that
466
00:20:53,376 --> 00:20:56,630
rough list ordering I was
saying before was price.
467
00:20:56,630 --> 00:20:59,715
All the way of. Of.
Pricing it all the way
468
00:20:58,006 --> 00:21:03,511
and Ben Kingsley yeah.
Holloway or hold it. All the. Way
469
00:21:00,549 --> 00:21:04,387
Okay sure Well.
I'll I'll have to double
470
00:21:04,387 --> 00:21:07,557
check that too as a as like post
I'm not sure, although I do I.
471
00:21:07,557 --> 00:21:09,934
Look okay. Okay.
All right. There you go.
472
00:21:09,934 --> 00:21:14,272
So in terms of,
you know, like cash bonds,
473
00:21:14,355 --> 00:21:18,777
real estate stocks,
that sort of thing, it's I think
474
00:21:18,777 --> 00:21:22,071
when you say safe, it's
usually on the terms
475
00:21:19,903 --> 00:21:22,823
of a couple of years.
You know, if you buy it
476
00:21:22,823 --> 00:21:24,865
and then you hold it
a couple of years,
477
00:21:24,865 --> 00:21:27,368
what's the likelihood
it will have gone down? You know,
478
00:21:27,368 --> 00:21:29,621
it was stocks
that happens all the time
479
00:21:29,621 --> 00:21:33,583
and tell me individual ones.
And that's why if you
480
00:21:31,623 --> 00:21:35,585
group it together as a,
you know, an ETF, it's
481
00:21:33,583 --> 00:21:38,922
probably a bit more safer.
But even that can go down,
482
00:21:35,585 --> 00:21:40,632
whereas real estate
has this air of, you know,
483
00:21:40,632 --> 00:21:43,343
never really crashing
until it does, you know,
484
00:21:43,343 --> 00:21:45,636
it's all it always goes up
until it doesn't.
485
00:21:45,636 --> 00:21:50,392
And once again, there's a
Australian housing crisis
486
00:21:47,722 --> 00:21:51,643
which we'll talk about
after Boostagram Lounge.
487
00:21:51,643 --> 00:21:54,770
But so my, my main points
here on the negatives
488
00:21:54,770 --> 00:22:00,359
of property investing
unless you can get it
489
00:21:57,566 --> 00:22:01,778
positively geared quickly.
So this is getting to the point
490
00:22:01,778 --> 00:22:05,615
where your mortgage
repayments. Are.
491
00:22:05,699 --> 00:22:09,786
Less than the payments
of rent coming in,
492
00:22:09,869 --> 00:22:12,455
you're pretty much locked
into full time work. Is there
493
00:22:12,455 --> 00:22:14,415
is there any way
that you could not
494
00:22:14,415 --> 00:22:18,252
have full time work and do that?
Because I've looked before it,
495
00:22:18,252 --> 00:22:22,214
you know, imagine you build up
a stack of wealth
496
00:22:20,047 --> 00:22:24,259
like I have and it's
kind of like a nest egg.
497
00:22:24,259 --> 00:22:26,178
I don't think
banks are very friendly
498
00:22:26,178 --> 00:22:28,262
in terms of lending out
to people like me.
499
00:22:28,262 --> 00:22:32,183
There seems to be something of
even if you can prove
500
00:22:29,972 --> 00:22:34,019
that you've got
like cash on hand,
501
00:22:34,019 --> 00:22:36,855
that they're not interested,
they need to see that you have
502
00:22:36,855 --> 00:22:40,776
these recurring payments.
So so that's just one thing
503
00:22:40,776 --> 00:22:44,904
I've noticed personally,
which was you need to be
504
00:22:42,943 --> 00:22:48,616
you kind of locking yourself
into full time work or a
505
00:22:48,700 --> 00:22:52,244
I don't even think there
that impressed with
506
00:22:50,493 --> 00:22:53,579
like dividends coming in.
It seems to be like a job.
507
00:22:53,579 --> 00:22:58,710
Yeah, I disagree. I disagree.
Well, let me let me say it
508
00:22:56,540 --> 00:23:00,921
this way. I don't think it's
what you're saying.
509
00:23:00,921 --> 00:23:04,508
A job is a very
traditional view, I'd say night.
510
00:23:04,508 --> 00:23:08,345
What a bank,
what a car institution would need
511
00:23:06,384 --> 00:23:10,305
is recurring income.
Okay, Now the recurring
512
00:23:08,345 --> 00:23:11,890
can be a business.
Yeah, you can be a job.
513
00:23:11,890 --> 00:23:13,808
It could just be a lot of
other rental properties.
514
00:23:13,808 --> 00:23:15,352
Gain your income
if you've got lots of
515
00:23:15,352 --> 00:23:16,685
I mean, obviously
we're talking about this
516
00:23:16,685 --> 00:23:18,980
like obviously top
percent people,
517
00:23:18,980 --> 00:23:20,773
but if you got lots of rent
coming in from properties,
518
00:23:20,773 --> 00:23:23,943
you can up shorts out
and get loans because you've got
519
00:23:22,358 --> 00:23:25,237
income coming in. Yeah.
Again, think about you go
520
00:23:25,237 --> 00:23:27,029
think about it more so in the
at least from Australia.
521
00:23:27,029 --> 00:23:30,075
But it just happens
worldwide in the way
522
00:23:27,696 --> 00:23:32,827
the taxation works is
what you would set up
523
00:23:30,075 --> 00:23:34,203
as your income from a taxation
perspective,
524
00:23:34,203 --> 00:23:36,080
whether you're a business,
whether you're partnership,
525
00:23:36,080 --> 00:23:38,500
whether an individual
sole trader, whatever
526
00:23:38,500 --> 00:23:41,502
that is a determining
factor that would go
527
00:23:41,502 --> 00:23:44,088
same thing as from a bank
perspective. Okay, cool.
528
00:23:44,088 --> 00:23:46,715
They can pay this
and from a society perspective
529
00:23:46,715 --> 00:23:49,510
CO That is a kind
of repayment structure
530
00:23:49,510 --> 00:23:51,596
that we could see
being repaid for an asset.
531
00:23:51,596 --> 00:23:54,766
Yeah. Yep, yep.
I should have said that.
532
00:23:52,596 --> 00:23:56,934
I was just generalising.
For most people.
533
00:23:54,766 --> 00:23:58,436
It will be a job.
Is their their main income
534
00:23:58,436 --> 00:24:01,440
or sole income
that that's the thing.
535
00:24:01,440 --> 00:24:05,734
And so yeah, I just found that
and my situation
536
00:24:03,525 --> 00:24:06,944
is pretty unique.
I'll grant that.
537
00:24:06,944 --> 00:24:10,323
And I don't know, it's,
it's hard to say. Sometimes
538
00:24:08,989 --> 00:24:11,324
I feel super unique
and then other times and like,
539
00:24:11,324 --> 00:24:13,034
am I just the
normal person out here?
540
00:24:13,034 --> 00:24:15,244
And we're all just
kind of like spread out
541
00:24:15,244 --> 00:24:18,205
and you don't feel it,
but in any case,
542
00:24:18,205 --> 00:24:21,835
that was one thing I noticed,
especially when
543
00:24:19,332 --> 00:24:25,881
I wanted to go travelling and I,
I had some like slight thoughts
544
00:24:25,881 --> 00:24:29,342
when I, especially
when I was earning a lot of money
545
00:24:27,673 --> 00:24:32,887
working in mining and I was just
investigating stocks
546
00:24:30,634 --> 00:24:34,638
and getting hammered.
Holy shit, I was in the
547
00:24:32,887 --> 00:24:35,222
red for a while.
I was like, Well,
548
00:24:35,222 --> 00:24:37,392
this is not working for
me, so great.
549
00:24:37,392 --> 00:24:43,230
Maybe it would be good to
invest in property
550
00:24:39,935 --> 00:24:46,233
or something like I, I
Yeah, I had, I had enough
551
00:24:43,315 --> 00:24:47,234
income where it was like,
I can really do,
552
00:24:47,234 --> 00:24:50,946
I can do whatever the hell
I want, essentially. And,
553
00:24:51,155 --> 00:24:53,115
and when I was just
thinking about
554
00:24:53,115 --> 00:24:58,913
travelling in my home,
just the idea of having
555
00:24:55,535 --> 00:25:00,999
a property really was
it was almost like a
556
00:24:58,997 --> 00:25:03,084
locking in sort of thing.
Now I know you can
557
00:25:03,084 --> 00:25:07,130
buy a property elsewhere
in the country and you can get
558
00:25:05,420 --> 00:25:09,590
someone else to manage it
so you don't have to be in
559
00:25:07,130 --> 00:25:12,594
the same location as it.
But it did always have
560
00:25:09,590 --> 00:25:15,055
this feel to me of if you do,
if you're doing that,
561
00:25:13,428 --> 00:25:18,141
then you're just getting
all these added complexities
562
00:25:18,224 --> 00:25:23,646
in terms of the management,
which feels more than other
563
00:25:22,061 --> 00:25:25,105
financial instruments.
Even if you've got
564
00:25:23,646 --> 00:25:27,275
a property manager,
the amount of times
565
00:25:25,105 --> 00:25:29,277
you've told me about this
property manager doing this
566
00:25:29,277 --> 00:25:32,446
or coming to you for this thing,
or you have to be the one
567
00:25:30,612 --> 00:25:33,405
to decide about what
we're going to do here,
568
00:25:33,405 --> 00:25:37,536
or this hidden expense comes up.
And it's more than
569
00:25:34,990 --> 00:25:38,787
your general investment.
Yeah, yeah. 100%.
570
00:25:38,787 --> 00:25:41,498
So if you buy a stock,
you don't have to go
571
00:25:41,498 --> 00:25:43,208
to the annual
general meeting. It's you.
572
00:25:43,208 --> 00:25:45,710
You don't have to vote.
You don't have to
573
00:25:45,710 --> 00:25:48,462
have to do anything
like it is kind of cancer.
574
00:25:48,462 --> 00:25:53,009
Set it and forget it.
Which seemed very stressful and
575
00:25:53,009 --> 00:25:58,181
that sort of thing. Once again,
you can get bit more, it's safer
576
00:25:58,181 --> 00:26:02,644
and in some ways
how you want to do that and yeah,
577
00:26:00,933 --> 00:26:08,148
it was just for me,
probably the biggest thing of why
578
00:26:03,561 --> 00:26:10,277
I would not buy it many
why I didn't buy
579
00:26:08,232 --> 00:26:13,445
any property in the past
and why I probably won't
580
00:26:10,277 --> 00:26:17,409
for a while to come is
just a very illiquid
581
00:26:13,445 --> 00:26:20,202
asset, buying and holding.
If you if you're trying
582
00:26:17,409 --> 00:26:22,663
to flip houses,
there's there's there's
583
00:26:20,202 --> 00:26:24,583
some ways around it.
I know my uncle
584
00:26:22,663 --> 00:26:26,542
did this thing where
I think he was taking it.
585
00:26:26,542 --> 00:26:31,881
It was not the first Home Buyers
Act or something,
586
00:26:30,337 --> 00:26:33,799
but it was basically
I could buy a house,
587
00:26:31,881 --> 00:26:35,676
live in it for a year,
and then he could resell it on
588
00:26:35,676 --> 00:26:39,888
and there would be some
discount from doing that. I don't
589
00:26:37,846 --> 00:26:42,224
know what it's called
unless you're
590
00:26:39,972 --> 00:26:44,435
doing something like that. Yeah,
you got to hold onto it
591
00:26:44,435 --> 00:26:47,980
because you just get
reamed out the arse
592
00:26:45,144 --> 00:26:50,482
with stamp duty and
and all those sorts of
593
00:26:47,980 --> 00:26:51,526
things. So very illiquid.
You want to have, you know,
594
00:26:51,526 --> 00:26:55,029
some financial freedom
or maybe even some social freedom
595
00:26:55,029 --> 00:26:58,575
to be able to move where
you want in the world. That's
596
00:26:57,531 --> 00:27:00,285
that's just one of mine.
And my, my coetzee's
597
00:27:00,285 --> 00:27:01,411
like just have to think
about that.
598
00:27:01,411 --> 00:27:03,371
You're locking yourself
into a something
599
00:27:03,371 --> 00:27:06,458
for a fair amount of time.
Yeah. I mean. Potentially
600
00:27:05,332 --> 00:27:08,084
locking yourself into a job,
potentially locking us up,
601
00:27:08,084 --> 00:27:11,046
which is then locking
you into a country potentially
602
00:27:11,046 --> 00:27:13,298
if you don't have
a digital nomads
603
00:27:13,298 --> 00:27:15,342
sort of lifestyle. Sure.
Good point. I mean,
604
00:27:15,342 --> 00:27:17,926
I think there are set ups
to a lot of those things
605
00:27:17,926 --> 00:27:19,929
from what you're saying
that you could set up again,
606
00:27:19,929 --> 00:27:22,057
I guess in
speaking to this podcast,
607
00:27:22,057 --> 00:27:24,099
there's probably effective
takeaways.
608
00:27:24,099 --> 00:27:25,184
I'm not going to be saying
to people like,
609
00:27:25,184 --> 00:27:28,896
well, you know, in ten,
15, 20, 50 properties, you know,
610
00:27:27,936 --> 00:27:30,731
you could do this. You can't.
I think anyone listening
611
00:27:29,521 --> 00:27:32,442
to this podcast
right now is in a position
612
00:27:32,442 --> 00:27:35,737
nor may get that position.
That's cool. But I would say,
613
00:27:35,737 --> 00:27:38,781
okay, if you're looking at
property as an investment
614
00:27:36,528 --> 00:27:41,076
and really
that's the only percentage
615
00:27:38,781 --> 00:27:42,451
of the variable. And if you have
a family, you're doing it.
616
00:27:42,451 --> 00:27:44,828
So you know, as an individual
you want to know, okay, I'm
617
00:27:44,828 --> 00:27:46,580
going to buy this
because of whatever reason
618
00:27:46,580 --> 00:27:48,540
I'd say just rethinking
it should be a balance.
619
00:27:48,540 --> 00:27:50,710
There should be
a balance of that 50%
620
00:27:50,710 --> 00:27:53,505
probably in the investment
side for sure location.
621
00:27:53,505 --> 00:27:55,089
What it means in terms of,
you know, it's
622
00:27:55,089 --> 00:27:59,426
I'm looking at things like
DC area gentrified, gentrified
623
00:27:59,426 --> 00:28:02,806
or not will a gentrified
is the surrounding
624
00:28:01,054 --> 00:28:04,473
suburbs, you know good suburbs
or declining suburbs.
625
00:28:04,473 --> 00:28:07,727
There's going to be this
in terms of, you know, location.
626
00:28:07,727 --> 00:28:10,689
There's a couple of things
around location, but one thing
627
00:28:08,894 --> 00:28:13,775
you look at Sydney, at least here
in Australia, you know, quite an
628
00:28:11,772 --> 00:28:16,027
expensive property market.
It is going up and up and up and
629
00:28:16,027 --> 00:28:17,987
we've all talked about it
more on the big screen
630
00:28:17,987 --> 00:28:19,905
after the mainstream launch.
But it's, you know,
631
00:28:19,905 --> 00:28:22,784
looking at, well, can
something be landlocked
632
00:28:22,784 --> 00:28:24,702
or can it be expanded?
And if it can expand, it does.
633
00:28:24,702 --> 00:28:26,704
I mean that the valuation
of the properties
634
00:28:26,704 --> 00:28:28,623
is going to stay steady
because they're going to go
635
00:28:28,623 --> 00:28:30,834
through says all these things
that you can obviously look at.
636
00:28:30,834 --> 00:28:32,501
But you have to weigh
that up with, Well,
637
00:28:32,501 --> 00:28:34,546
school catchment is close
to my work,
638
00:28:34,546 --> 00:28:36,588
all this sort of things
because they become
639
00:28:36,588 --> 00:28:39,092
really, really important
and you can be, you know,
640
00:28:39,092 --> 00:28:41,219
you can be relatively wealthy,
you do whatever you want,
641
00:28:41,219 --> 00:28:42,971
but if you're 5 hours out
of, you know,
642
00:28:42,971 --> 00:28:44,596
living somewhere and bump
I out of high
643
00:28:44,596 --> 00:28:47,767
and you don't even know
where to get to, well, it's
644
00:28:46,057 --> 00:28:48,934
a pretty shitty existence
if that's not what you want.
645
00:28:48,934 --> 00:28:51,938
So you'll have to kind of
balance it out with that
646
00:28:52,020 --> 00:28:55,482
very thing as well.
The last one in
647
00:28:52,814 --> 00:28:58,486
the investment was
so you master spreadsheet
648
00:28:55,482 --> 00:29:00,779
all these tabs,
all these calculations,
649
00:28:58,569 --> 00:29:01,823
what if this happens?
I'll put this in, put here,
650
00:29:01,823 --> 00:29:07,119
test this out too, so that
you've now
651
00:29:04,491 --> 00:29:08,829
had that for a fair while. 2016.
So that's getting what,
652
00:29:08,829 --> 00:29:14,126
seven years, maybe eight years.
What's how accurate is it in
653
00:29:14,126 --> 00:29:17,422
terms of its prediction
and ability?
654
00:29:17,505 --> 00:29:22,218
Because last I remember
talking with you particularly was
655
00:29:19,840 --> 00:29:24,220
was around Harvard
and that investment property
656
00:29:24,220 --> 00:29:26,306
had basically
not gone up in price.
657
00:29:26,306 --> 00:29:28,599
And so I'm guessing
that was not part of your
658
00:29:28,599 --> 00:29:32,770
it was estimate decision making.
It wasn't. Now, the other things
659
00:29:31,185 --> 00:29:34,897
have changed, and I know rent on
it has gone up crazy,
660
00:29:34,897 --> 00:29:38,067
so maybe that compensates
and I don't know what
661
00:29:36,398 --> 00:29:41,069
the house and like
the pricing is now, but how
662
00:29:41,112 --> 00:29:45,325
how good
is the predictive ability
663
00:29:41,653 --> 00:29:46,910
do you think of of rent
while of your master spreadsheet
664
00:29:46,910 --> 00:29:48,702
and then just in general
in terms of
665
00:29:48,702 --> 00:29:54,041
renting and investing and.
Well, property
666
00:29:51,455 --> 00:29:55,835
just in general, the
the actual spreadsheets
667
00:29:54,041 --> 00:29:57,127
on anything
algorithmically beautiful
668
00:29:57,127 --> 00:30:00,464
or is using
is a general percentage
669
00:30:00,507 --> 00:30:03,884
of capital gain return
over X amount of years.
670
00:30:03,884 --> 00:30:07,305
And as it goes on,
say the longer time goes,
671
00:30:07,387 --> 00:30:09,516
the better the predictions
going to be because.
672
00:30:09,516 --> 00:30:11,099
It is getting closer.
To is getting closer.
673
00:30:11,099 --> 00:30:14,561
So if actually look at the
what the predicted ten year
674
00:30:14,561 --> 00:30:19,733
mark is of the properties worth,
the property is now approaching
675
00:30:17,731 --> 00:30:20,609
that on its way out there.
So it's kind of like, okay,
676
00:30:20,609 --> 00:30:23,238
it's on to get close.
You're right. Two years ago
677
00:30:21,778 --> 00:30:24,905
I was like, man,
this is not even close
678
00:30:23,238 --> 00:30:27,115
to getting close.
But now it's on the track
679
00:30:24,905 --> 00:30:29,701
to what's up.
So that's like, okay,
680
00:30:27,115 --> 00:30:32,204
cool. That's, that's nice.
So that perspective, it is good.
681
00:30:32,204 --> 00:30:35,708
More so specifically for me,
I'm not looking
682
00:30:33,580 --> 00:30:40,255
a little tracking it. Well,
that spreadsheet is
683
00:30:36,667 --> 00:30:42,089
not so much a capital key
going back to capital
684
00:30:40,296 --> 00:30:44,800
in operational. That's only the
the purpose of the spreadsheet.
685
00:30:44,800 --> 00:30:46,928
All those numbers,
not for capital purposes.
686
00:30:46,928 --> 00:30:50,056
So what I mean, I'm
not that property
687
00:30:50,056 --> 00:30:51,891
when I bought it
I'll tell you right now
688
00:30:51,891 --> 00:30:55,561
we once again in 2016
we actually had another property
689
00:30:55,561 --> 00:30:58,355
that we actually won first
and we pulled out of that one.
690
00:30:58,355 --> 00:31:04,444
Had I held that property,
that would have gone up
691
00:31:01,358 --> 00:31:06,655
2.7 times since that time.
That has, as it
692
00:31:04,528 --> 00:31:09,867
is that I could have, it was one,
I'll run out at 1.4.
693
00:31:09,951 --> 00:31:15,582
But so huge differences
now it's at this purpose.
694
00:31:15,582 --> 00:31:18,792
I lived in it multiple times.
It was really fun to have.
695
00:31:18,792 --> 00:31:20,752
There was a lot of good
it's great great know
696
00:31:20,752 --> 00:31:22,547
I'm I don't have that
in the other place.
697
00:31:22,547 --> 00:31:25,299
And so again this time. Since
I was the other place.
698
00:31:25,299 --> 00:31:29,053
There's all the places
like in red Redland by far away
699
00:31:26,634 --> 00:31:30,430
not close to the city
at least here, Brisbane, it's
700
00:31:30,430 --> 00:31:32,015
like a half hour drive.
It would have been
701
00:31:32,015 --> 00:31:33,557
a completely different
lifestyle. Out. Place.
702
00:31:33,557 --> 00:31:36,435
So you think about these things
and you go, okay,
703
00:31:36,435 --> 00:31:39,230
for me, at the very least
as it goes on, I'm not.
704
00:31:39,230 --> 00:31:41,023
And this at least comes
more of a pet.
705
00:31:41,023 --> 00:31:46,237
Personal thought is
properties for me
706
00:31:42,650 --> 00:31:48,280
are not overwhelmingly
being looked at
707
00:31:46,237 --> 00:31:49,990
as a capital perspective.
I'm much more on the
708
00:31:48,280 --> 00:31:50,741
operational perspective.
And so the spreadsheets
709
00:31:50,741 --> 00:31:52,576
are much more aligned
to operational.
710
00:31:52,576 --> 00:31:56,830
Okay, month to month,
what does property need
711
00:31:54,953 --> 00:31:57,749
from month perspective?
What do I need to be putting in
712
00:31:57,749 --> 00:31:59,500
from a month perspective?
How does it work out
713
00:31:59,500 --> 00:32:03,503
from a taxation strategy
perspective to if I can make
714
00:32:02,170 --> 00:32:06,507
that on a cadence
and it can just go on
715
00:32:03,503 --> 00:32:07,634
on its merry way forever?
That's what I wanted to do,
716
00:32:07,634 --> 00:32:09,594
to be personally honest. Maybe.
Maybe a little bit.
717
00:32:09,594 --> 00:32:12,763
Yeah, we'll look at it here.
This in future at some point.
718
00:32:12,763 --> 00:32:14,557
You know, one of the plans
talking to my partner
719
00:32:14,557 --> 00:32:18,394
is, you know that property, man,
I could be like
720
00:32:16,433 --> 00:32:19,269
the future place for her
when she goes to study
721
00:32:19,269 --> 00:32:20,855
or something like that,
if she wants to use it.
722
00:32:20,855 --> 00:32:23,691
Yeah, that's the thing.
So for me it's like, okay,
723
00:32:23,691 --> 00:32:25,359
it doesn't matter
what the valuation off,
724
00:32:25,359 --> 00:32:28,654
because of course the more
from a capital perspective and a
725
00:32:28,654 --> 00:32:31,156
you know, leading into
the point of you saying,
726
00:32:31,240 --> 00:32:34,576
sure, very liquid, but you
can also extract
727
00:32:33,076 --> 00:32:35,577
a lot of money out them
if the capital comes in
728
00:32:35,577 --> 00:32:37,872
and you can use that money
to do other things
729
00:32:37,872 --> 00:32:40,415
so that obviously
it's a liquid asset,
730
00:32:40,415 --> 00:32:43,044
but doesn't mean that
the funder a liquid
731
00:32:41,334 --> 00:32:45,337
all the time. Yeah. Which what
my dad has done too.
732
00:32:45,337 --> 00:32:46,838
So it's variations
to that as well
733
00:32:46,838 --> 00:32:49,717
obviously be aware of it
when you own a property
734
00:32:49,717 --> 00:32:53,596
but then but then for me
I've got to do spreadsheets
735
00:32:51,510 --> 00:32:55,682
much operational. Yeah. And yeah,
that master spreadsheet,
736
00:32:55,682 --> 00:32:59,268
it focuses all the properties,
all income, all expenses, all
737
00:32:59,268 --> 00:33:01,395
like all these little details,
how exact that is.
738
00:33:01,395 --> 00:33:05,692
I probably I'd be off like 15,
15, 10% month
739
00:33:03,105 --> 00:33:07,567
to month B somewhere.
Yeah, Yeah. So.
740
00:33:07,567 --> 00:33:10,278
All right, thank you.
Want to jump into
741
00:33:08,236 --> 00:33:11,571
the boostagram lounge.
So while once
742
00:33:11,571 --> 00:33:14,241
looking up for the notes,
we can thank people.
743
00:33:14,241 --> 00:33:16,160
There's actually a couple
of people on in the live chat.
744
00:33:16,160 --> 00:33:19,538
So I see Lucas here.
I see a C West side baby.
745
00:33:19,538 --> 00:33:23,792
The proud. Dog. The proud
take your dog for a walk.
746
00:33:23,792 --> 00:33:26,421
He is mate,
and he actually lives in
747
00:33:26,421 --> 00:33:30,048
what is known as the Million
Dollar Mud Hut, which is
748
00:33:30,133 --> 00:33:34,429
the good thing about
property is like
749
00:33:30,758 --> 00:33:38,141
it can be a weird. Yeah we.
It's a weird place
750
00:33:36,305 --> 00:33:40,351
and it's a it's
a very weird odd place. But yeah,
751
00:33:40,351 --> 00:33:44,230
the in like finance wise
it's still done very well.
752
00:33:44,271 --> 00:33:45,815
So that's,
that's one of the things
753
00:33:45,815 --> 00:33:49,693
which is kind of fun though.
It's funny, but like I said,
754
00:33:49,693 --> 00:33:51,612
with great wealth comes
great responsibility.
755
00:33:51,612 --> 00:33:54,740
It also binds you
to a location for me not knowing
756
00:33:53,698 --> 00:33:59,746
where I will be in five years,
it is a barrier. So yeah, that's
757
00:33:56,826 --> 00:34:04,000
that's one of the things
actually, that's why
758
00:33:59,746 --> 00:34:05,417
I've gotten so much into
like cryptocurrencies.
759
00:34:05,417 --> 00:34:09,672
Bitcoin in particular
is the ability to go
760
00:34:09,672 --> 00:34:13,342
wherever you want with it
and all you need to do
761
00:34:10,672 --> 00:34:16,344
is from the 12 words,
which I don't do
762
00:34:13,342 --> 00:34:19,097
because that's my yeah,
this noggin. I wouldn't
763
00:34:17,304 --> 00:34:21,976
be quick to get into that.
So I've got other ways
764
00:34:19,097 --> 00:34:25,271
of securing those words.
But yeah, I, I really like
765
00:34:21,976 --> 00:34:27,856
that a bit on that.
Even just the thought
766
00:34:25,480 --> 00:34:30,400
of being like I could, you know,
Satoshi Nakamoto,
767
00:34:30,400 --> 00:34:33,195
it could just have 12 words,
whoever that person is,
768
00:34:33,195 --> 00:34:38,201
and they could have
more wealth than anyone
769
00:34:38,284 --> 00:34:40,494
ever, ever. I don't I don't
know how much is worth
770
00:34:40,494 --> 00:34:45,625
now, but let's say Bitcoin rises.
I think at the top of the price
771
00:34:42,954 --> 00:34:48,585
it was 86 billion. Yeah.
So not more wealth
772
00:34:46,458 --> 00:34:51,547
than anyone ever.
But you know, goes up
773
00:34:48,585 --> 00:34:55,092
another five times,
which is certainly doable
774
00:34:51,797 --> 00:34:56,969
foreseeable. You know that's more
wealth than anyone ever.
775
00:34:56,969 --> 00:34:59,514
And be like.
Yeah well walking around
776
00:34:59,514 --> 00:35:04,936
yeah I thought maybe it's a.
It's. It's more wealth
777
00:35:02,266 --> 00:35:06,186
than anyone ever.
And recently as well I'll.
778
00:35:06,186 --> 00:35:11,900
Just say as it stands against the
Yeah the shareable information
779
00:35:11,900 --> 00:35:14,778
I've seen those things
I think Elon Musk the guy.
780
00:35:14,778 --> 00:35:18,574
Family that some people.
Will like just sure they've got
781
00:35:16,155 --> 00:35:19,574
you can see financially
got all this amount
782
00:35:19,574 --> 00:35:20,909
of billions of dollars
or whatever. Yeah.
783
00:35:20,909 --> 00:35:23,579
But then you look into
big Saudi families in them
784
00:35:23,579 --> 00:35:26,456
but they're
not sharing that. Yeah.
785
00:35:26,541 --> 00:35:29,918
Plenty of money like these
people are Big rolling.
786
00:35:29,960 --> 00:35:33,797
Good point. The only case,
Satoshi Nakamoto,
787
00:35:32,380 --> 00:35:36,217
thank you very much.
So the boosta gram said
788
00:35:34,507 --> 00:35:38,594
this is where we think
everyone who has helped
789
00:35:36,217 --> 00:35:40,137
to support the show.
We really love
790
00:35:38,594 --> 00:35:41,054
these live messages
coming in like this.
791
00:35:41,054 --> 00:35:43,807
And then we also love
getting a message present.
792
00:35:43,807 --> 00:35:46,434
So this isn't a reaction
usually to
793
00:35:46,434 --> 00:35:50,231
some of our past content.
And you can do this
794
00:35:47,936 --> 00:35:52,108
by just going to a
a podcasting app, a newer one.
795
00:35:52,108 --> 00:35:55,485
So memo podcast, dot
com slash support
796
00:35:55,485 --> 00:35:58,989
and I've gotten a list
there of of the list
797
00:35:58,989 --> 00:36:02,827
and links of apps
where you can find out
798
00:36:00,490 --> 00:36:04,286
this very show on there
and you can send in a boostagram
799
00:36:04,286 --> 00:36:07,248
which is a message with money
attached pretty simple
800
00:36:07,248 --> 00:36:10,168
and we you know
the brilliant thing about this is
801
00:36:10,168 --> 00:36:12,460
you can just go to any app
and and try it out
802
00:36:12,460 --> 00:36:16,548
and you'll read off some of these
and react to them. So absolutely.
803
00:36:16,548 --> 00:36:21,344
So we've got the dependable
Dave Jones weekly boots of the
804
00:36:18,300 --> 00:36:22,637
Memorial Nation 12,112. That's
that's and using cron
805
00:36:22,637 --> 00:36:24,389
thank you very much
Dave as always.
806
00:36:24,389 --> 00:36:30,938
And then we've got Peter
3333 using fountain. I love it.
807
00:36:30,938 --> 00:36:33,523
So, Peter, you've been. To Fiji,
haven't you? Happy?
808
00:36:33,523 --> 00:36:37,485
What was it like to.
Well, I only really stuck
809
00:36:34,900 --> 00:36:39,322
around to dinner then.
True Island, I think, is
810
00:36:37,485 --> 00:36:41,865
how you pronounce it.
It's got to the What's the west.
811
00:36:41,865 --> 00:36:45,244
Yeah. Noddy and did go
into Noddy a little bit.
812
00:36:45,244 --> 00:36:49,331
Didn't like it then our island
didn't like it was very expensive
813
00:36:49,331 --> 00:36:55,170
also got very sick.
It was also the year
814
00:36:50,583 --> 00:36:57,547
that Fiji won the rugby
World Cup with a rugby like touch
815
00:36:57,547 --> 00:37:01,344
some of that and people was going
bananas like people were
816
00:36:58,925 --> 00:37:03,429
celebrating so hardcore.
Yeah, which is lovely.
817
00:37:01,344 --> 00:37:06,431
To see in a scary way.
And scary way. I think I saw
818
00:37:04,012 --> 00:37:08,851
people, hostel
staff members at the place
819
00:37:06,431 --> 00:37:12,771
we were staying.
I take off on golf carts
820
00:37:08,851 --> 00:37:13,898
and just fly over heels. I was
like, What's going on?
821
00:37:13,898 --> 00:37:18,527
It was weird.
Yeah, yeah, it was weird
822
00:37:15,233 --> 00:37:20,987
because like, I liked it.
Nothing better
823
00:37:18,610 --> 00:37:21,905
than the Gulf Coast trip.
Maybe I didn't go to, like,
824
00:37:21,905 --> 00:37:25,826
the correct places in Fiji.
I've heard some good things about
825
00:37:24,115 --> 00:37:27,119
some of the other islands
that can get really,
826
00:37:25,826 --> 00:37:29,956
really expensive.
Like, so I didn't go
827
00:37:29,956 --> 00:37:31,958
like out into the water
as much either.
828
00:37:31,958 --> 00:37:33,416
But you're not, you know,
like living like a.
829
00:37:33,416 --> 00:37:35,835
Local snorkelling is said
to be like amazing naked.
830
00:37:35,835 --> 00:37:36,963
You basically
just walk in straight
831
00:37:36,963 --> 00:37:38,213
to the water
and it's nice and warm.
832
00:37:38,213 --> 00:37:41,050
And so there's a lot of
things I didn't get to do.
833
00:37:41,050 --> 00:37:43,969
Mainly I was sick, man.
To had like barely
834
00:37:42,385 --> 00:37:45,846
any money during the time.
And you need a lot
835
00:37:43,969 --> 00:37:50,101
of money in those places.
I believe bottled water,
836
00:37:45,846 --> 00:37:52,186
drink a bottle of vodka,
I think like an equivalent
837
00:37:50,309 --> 00:37:56,148
of what it was.
But then 40 or 50 AUD
838
00:37:52,186 --> 00:37:59,025
was about $170 day in Fiji
just because of the place,
839
00:37:59,025 --> 00:38:01,695
the cost for exporting
of products and stuff like that.
840
00:38:01,695 --> 00:38:03,780
And I was like, man,
this is and that was
841
00:38:02,320 --> 00:38:05,615
basically everything.
So I think we subsumed ourselves
842
00:38:05,615 --> 00:38:08,119
with eating pizza
like twice a day
843
00:38:08,119 --> 00:38:09,619
just so we wouldn't
have to spend much money.
844
00:38:09,619 --> 00:38:13,958
Yeah, exactly.
But bitcoins, Bitcoins
845
00:38:11,163 --> 00:38:16,960
and so Peter was there
reacting to me saying,
846
00:38:13,958 --> 00:38:20,005
I'll shout PayPal tickets
to Fiji. So, I mean, it's
847
00:38:17,920 --> 00:38:21,090
much easier
if you're in Australia already.
848
00:38:21,090 --> 00:38:24,467
I'll show you tickets
from Australia. Yeah, very easy.
849
00:38:22,425 --> 00:38:25,760
And once Bitcoin. You're in
the US, we'll send
850
00:38:25,760 --> 00:38:31,726
it to Hawaii or something. Yeah.
I don't know what we'll
851
00:38:29,014 --> 00:38:33,351
do about what is on it.
I did check the PayPal just then,
852
00:38:33,351 --> 00:38:38,440
still nothing on the PayPal.
So if, if anyone wants to
853
00:38:34,686 --> 00:38:42,945
to partake in
sending us a payment
854
00:38:38,440 --> 00:38:44,195
not in satoshis but in.
Yeah. If you have money
855
00:38:43,028 --> 00:38:47,157
feel free. To do synthetic
fiat money. Feel free to do that
856
00:38:45,780 --> 00:38:51,119
as well.
And yeah, I think I'm all
857
00:38:47,157 --> 00:38:52,954
caught up on that as well
slightly less than we kind of
858
00:38:52,954 --> 00:38:54,581
have been getting in these
past couple of months.
859
00:38:54,581 --> 00:38:58,585
But understandable because where
I've been taking
860
00:38:56,916 --> 00:39:00,045
a little bit of a hiatus
from particularly
861
00:38:58,585 --> 00:39:02,422
the conversations and even
just like the regularity,
862
00:39:02,422 --> 00:39:07,844
what I can promise is there will
be more of these probably
863
00:39:04,300 --> 00:39:12,557
starting up late December
because I've already
864
00:39:07,927 --> 00:39:14,268
got one lot locked in with
a musician. Do you
865
00:39:13,309 --> 00:39:15,853
remember when I was saying
like I wanted
866
00:39:14,268 --> 00:39:19,106
to get a musician on to be able
to really know how bad Spotify is
867
00:39:19,106 --> 00:39:23,360
or is not fucking people over.
And yeah, I've got
868
00:39:20,690 --> 00:39:25,362
I've got one lined up
who is real into the value
869
00:39:23,360 --> 00:39:28,074
for value. Well,
so TJ, the real break.
870
00:39:28,074 --> 00:39:32,869
So did I tell you
about the Snoop Dogg.
871
00:39:32,952 --> 00:39:35,623
1 billion streams
for like 46 grand
872
00:39:35,623 --> 00:39:38,291
or something like that?
I think it might have been
873
00:39:36,581 --> 00:39:40,585
a billion streams.
Maybe it's maybe just like
874
00:39:38,291 --> 00:39:43,380
1 billion Ridiculous.
Like crazy crazy. Yeah. Yeah.
875
00:39:43,380 --> 00:39:46,300
Because, well, I mean,
I know Snoop
876
00:39:44,798 --> 00:39:49,762
Dogg's been very into,
like, the whole web3 world
877
00:39:46,300 --> 00:39:54,141
for a while, and I'm one
I mean, if he's he's
878
00:39:49,844 --> 00:39:57,103
getting that much for
4 billion like a billions
879
00:39:54,224 --> 00:40:00,146
big number, man.
Like, I calculated it out
880
00:39:57,103 --> 00:40:04,150
how much it was. Like 0.0.
no, it was like three
881
00:40:01,690 --> 00:40:07,028
or four zeros.
And then a number purpose stream.
882
00:40:07,028 --> 00:40:13,327
No, it no one in near close.
If it's a lot of the costs
883
00:40:08,947 --> 00:40:15,704
per mile of just various
advertising and places,
884
00:40:15,704 --> 00:40:18,373
they all kind of a
centred around this.
885
00:40:18,373 --> 00:40:21,210
It seems to be around
like $10, $20
886
00:40:21,210 --> 00:40:25,965
a lot of things are.
And when I deviate out of
887
00:40:22,585 --> 00:40:28,967
that, things go wrong.
So in podcasting it
888
00:40:25,965 --> 00:40:30,969
was getting up to like 100
and this was back in the era of
889
00:40:30,969 --> 00:40:33,556
a couple of years ago
for like Meghan Markle
890
00:40:33,556 --> 00:40:36,724
and Spotify was paying
big money for the Obamas
891
00:40:36,724 --> 00:40:38,811
and stuff like that.
And their costs cost by per
892
00:40:38,811 --> 00:40:42,690
thousand were all getting
really high and that was just
893
00:40:41,021 --> 00:40:46,402
unsustainable.
And you know, Spotify
894
00:40:42,690 --> 00:40:48,820
is paying for it now by
laying off tons of people
895
00:40:46,485 --> 00:40:49,905
and stuff like that. Correct.
And sorry,
896
00:40:49,905 --> 00:40:51,614
what I was just quickly
looking at, which is kind of
897
00:40:50,905 --> 00:40:54,367
interesting. As you you're saying
like 30040 is that.
898
00:40:54,367 --> 00:41:00,958
Yeah, this probably isn't
quite exactly. But one station
899
00:40:56,244 --> 00:41:03,210
is .00.0004. I guess it would be
Australian dollars. So, you know,
900
00:41:03,210 --> 00:41:05,336
it would be the equivalent
you know it's a whole make
901
00:41:05,336 --> 00:41:09,550
a thing is like well Snoop
Dogg talking basically
902
00:41:07,088 --> 00:41:11,802
that much from Spotify basically.
Every time someone listen
903
00:41:10,509 --> 00:41:13,512
to a song of his
and someone gave just one months
904
00:41:13,512 --> 00:41:14,762
that it would be
the equivalent and like
905
00:41:14,762 --> 00:41:16,431
can you imagine I'm on
one side of like nothing.
906
00:41:16,431 --> 00:41:18,934
Nothing. Yeah, yeah.
Not really interesting.
907
00:41:18,934 --> 00:41:21,896
Like concept of being like,
Hey you could top it over
908
00:41:19,726 --> 00:41:23,563
just one set. You're basically
getting the same amount. Yeah.
909
00:41:23,563 --> 00:41:27,233
And one side is not like,
you know, we as you're saying,
910
00:41:25,190 --> 00:41:29,820
you know, we're sending,
we give weekly support of 12,000
911
00:41:29,820 --> 00:41:33,199
might not be hot to send
get a set sent through by people
912
00:41:31,614 --> 00:41:34,449
who are listening to it.
I think in this next year or two
913
00:41:34,449 --> 00:41:36,494
there's going to be
some real interesting
914
00:41:36,494 --> 00:41:39,704
numbers where
people will be able to go,
915
00:41:39,788 --> 00:41:43,375
This is how much you haven't.
This is how much you know,
916
00:41:41,081 --> 00:41:45,585
if you could have a just
with one random person
917
00:41:43,375 --> 00:41:49,340
tuning in and sending
you like five 5000 SATs
918
00:41:45,585 --> 00:41:51,342
or something. Yeah, I think
they'll be some real
919
00:41:49,965 --> 00:41:53,469
interesting numbers
where you can check around
920
00:41:51,342 --> 00:41:57,139
and play and things like that.
And I'll probably be there
921
00:41:54,344 --> 00:41:58,264
doing it myself because
the value for value show
922
00:41:58,264 --> 00:42:02,228
do intend to kick off again
in mid-January as well,
923
00:42:02,228 --> 00:42:04,063
because a couple of things
come in for everyone.
924
00:42:04,063 --> 00:42:06,398
Just tune in
and look out for that.
925
00:42:06,398 --> 00:42:09,318
But one, the Australian
housing crisis. How far away,
926
00:42:09,318 --> 00:42:11,737
how far do you actually
you just bought at the
927
00:42:11,737 --> 00:42:18,284
at the peak of the housing
crisis here. At the peak. Well,
928
00:42:16,282 --> 00:42:20,119
so just context for this.
I don't know if it's because you
929
00:42:20,119 --> 00:42:25,626
so we have a joint
YouTube account which
930
00:42:21,371 --> 00:42:28,336
we used to like a host and
premium account. So no
931
00:42:26,501 --> 00:42:30,380
ads and stuff like that.
So when one searches up things.
932
00:42:30,380 --> 00:42:34,300
So sometimes as a partner,
I see, you know, baby
933
00:42:34,300 --> 00:42:37,262
circadian rhythm,
just asthma stuff
934
00:42:37,262 --> 00:42:39,306
and nobody like, okay,
well I can see I.
935
00:42:39,306 --> 00:42:42,393
Can only do Cocomelon.
Yeah, something like that.
936
00:42:42,393 --> 00:42:44,228
But a couple of videos
have been popping up
937
00:42:44,228 --> 00:42:48,440
recently for me
about Australian housing,
938
00:42:48,523 --> 00:42:54,280
just the Australian
housing crisis slash property
939
00:42:51,735 --> 00:42:56,614
in Australia. Okay.
Have you been looking. Up not
940
00:42:56,614 --> 00:42:59,952
to be is a you know,
have we been looking it up
941
00:42:58,449 --> 00:43:03,454
or something. I don't know.
But but this isn't just
942
00:43:00,702 --> 00:43:06,458
one. This has been two.
So that was one yesterday
943
00:43:03,454 --> 00:43:08,710
or the day before.
Maybe explainable by me
944
00:43:06,458 --> 00:43:13,757
putting up like the thumbnail
and then YouTube recommending
945
00:43:11,505 --> 00:43:16,969
this sort of stuff.
Yeah, and that's how
946
00:43:13,757 --> 00:43:21,431
these things sort of go.
But there was one. And so the one
947
00:43:18,429 --> 00:43:25,853
I was looking at recently as and
just a little bit before,
948
00:43:25,936 --> 00:43:27,813
where is it on here.
I was on the other count.
949
00:43:27,813 --> 00:43:32,150
Yeah, that'll be had fun.
It was basically
950
00:43:29,773 --> 00:43:33,485
like an American YouTuber
or a financial YouTuber.
951
00:43:33,485 --> 00:43:38,990
And it was, it was just
going on to like it. Why?
952
00:43:38,990 --> 00:43:42,369
Why the Australian housing
crisis? A bit
953
00:43:40,784 --> 00:43:44,871
bit of a random topic
to get on to for like here it is.
954
00:43:44,871 --> 00:43:47,541
So there's one from Bloomberg
Bloomberg Originals.
955
00:43:47,541 --> 00:43:51,085
This was two months ago.
Why Australia
956
00:43:49,418 --> 00:43:53,005
is Australia's housing
crisis is a warning
957
00:43:51,085 --> 00:43:58,052
for the world. my God,
there's Australia's
958
00:43:54,882 --> 00:43:59,302
housing crisis explained.
This was another one by S.F.
959
00:43:59,302 --> 00:44:04,141
Capital and the one I've watched
recently was
960
00:44:04,141 --> 00:44:10,063
if I quickly go into here.
History warning Australia's
961
00:44:07,061 --> 00:44:13,775
housing crisis explained
by this guy and Dragic.
962
00:44:13,775 --> 00:44:17,612
Jay, I take back that.
So a couple of days
963
00:44:16,110 --> 00:44:19,155
have been popping up. I was like,
All right, well
964
00:44:19,155 --> 00:44:21,574
if interesting enough,
I'll click on these
965
00:44:21,574 --> 00:44:25,536
1015 minute videos,
see what they like, and basically
966
00:44:25,536 --> 00:44:29,875
they're just saying
there's a bubble in Australia,
967
00:44:27,373 --> 00:44:31,335
so one or the other,
you're the property guru
968
00:44:29,875 --> 00:44:33,336
right here.
Is, is there an Australian
969
00:44:31,335 --> 00:44:34,838
housing crisis?
Are we in a bubble here
970
00:44:33,336 --> 00:44:36,673
in Australia? Well,
I find it interesting.
971
00:44:36,673 --> 00:44:40,427
It depends where you
how you, I think, approach
972
00:44:40,510 --> 00:44:44,639
that particular question,
or at least from what I've seen,
973
00:44:42,096 --> 00:44:48,518
is the. Aspect.
Of a bubble or at least
974
00:44:44,889 --> 00:44:50,353
the bubble nature of it,
at least a full property
975
00:44:50,353 --> 00:44:53,773
I feel like has been discussed
for such a long time. It's
976
00:44:51,355 --> 00:44:55,150
all, yes, such. A. Seems like
it's always in fact.
977
00:44:55,150 --> 00:44:58,277
If you looked at it way back,
I think it was like the
978
00:44:58,277 --> 00:45:01,782
1994 or 1996, whenever
I was around the time
979
00:45:01,782 --> 00:45:03,617
when it was a massive peak
in interest rate
980
00:45:03,617 --> 00:45:07,204
and I came down Australia
talk of that same thing.
981
00:45:07,286 --> 00:45:11,333
That bubble is going to crash now
where other areas of market
982
00:45:11,333 --> 00:45:13,418
where a bubble has happened
that has crashed
983
00:45:13,418 --> 00:45:17,922
talk about dotcom boom
and whatnot. I feel like there is
984
00:45:15,963 --> 00:45:19,757
there's a feel thing.
I'm not saying. So do you think
985
00:45:19,757 --> 00:45:24,012
there are some aspects
of our following of people
986
00:45:20,675 --> 00:45:27,641
rushing in, like money
rushing in, creating this
987
00:45:25,597 --> 00:45:29,893
big old bubble now
and then popping
988
00:45:27,641 --> 00:45:31,769
because it's unsustainable
right now? Will I say that
989
00:45:31,769 --> 00:45:35,690
the sustainability
in the property market, maybe
990
00:45:35,690 --> 00:45:39,777
not as much as, you know,
some absolute solid base again
991
00:45:39,777 --> 00:45:42,780
here in the Australian market
and this applies to other
992
00:45:40,778 --> 00:45:43,949
markets in the world.
However it is.
993
00:45:43,949 --> 00:45:47,577
And couple of points, one,
it's really large.
994
00:45:47,744 --> 00:45:51,248
So really, really large.
Things like these are hard
995
00:45:49,079 --> 00:45:54,460
to topple over.
It isn't like you, me,
996
00:45:51,248 --> 00:45:57,920
people at home listening to this
right now. You can do shit
997
00:45:55,543 --> 00:46:00,673
if you decide like, Well,
you know what, I'm not buying
998
00:45:58,755 --> 00:46:02,675
any more property or Hey,
I'm going to double
999
00:46:00,673 --> 00:46:03,635
the price of my property.
The market isn't even shit.
1000
00:46:03,635 --> 00:46:07,139
It's so insignificant
into this useless.
1001
00:46:07,222 --> 00:46:10,851
So the largeness of it is hard
to actually topple over
1002
00:46:09,224 --> 00:46:12,351
in the sense of it's
going to just collapse
1003
00:46:10,851 --> 00:46:15,646
completely. There are
big old powers,
1004
00:46:13,519 --> 00:46:16,231
government, other things
which are going to prevent
1005
00:46:16,231 --> 00:46:19,818
it from doing that right.
They're going to stop
1006
00:46:16,940 --> 00:46:22,028
it as much as possible. Could it?
Fuck, yeah, of course it could.
1007
00:46:22,028 --> 00:46:25,532
You know, you could have gigantic
cataclysms
1008
00:46:24,072 --> 00:46:26,324
that happen in the world.
There's always big things
1009
00:46:26,324 --> 00:46:32,956
covered, had a very big impacts
on property
1010
00:46:28,744 --> 00:46:35,458
for a while under rents,
they got down very low
1011
00:46:33,039 --> 00:46:37,628
here for a little bit and did.
And then they slowly skyrocket.
1012
00:46:37,628 --> 00:46:42,048
Right now a lot of see
I imagine something happen
1013
00:46:39,755 --> 00:46:44,134
similar happens.
Yeah, exactly now
1014
00:46:42,048 --> 00:46:48,054
but but again, you know,
you look at it
1015
00:46:44,134 --> 00:46:49,847
in an ad fundamentally
kind of like with other things.
1016
00:46:49,847 --> 00:46:52,851
So financially we're
in a bubble and whatnot.
1017
00:46:53,101 --> 00:46:57,523
Fundamentally,
what is it that drives
1018
00:46:54,603 --> 00:46:59,483
people to want a house,
an apartment, that sort of asset?
1019
00:46:59,483 --> 00:47:02,485
And it's generally is
you need someone to live
1020
00:47:02,652 --> 00:47:04,780
just in general.
You kind of need someone.
1021
00:47:04,780 --> 00:47:08,282
If all of a sudden we all decided
we want to be farm animals
1022
00:47:06,030 --> 00:47:09,827
and live in the streets,
fuck you, fuck property,
1023
00:47:08,282 --> 00:47:11,244
it's going
we're all going to leave
1024
00:47:09,827 --> 00:47:13,163
on the grass, but.
We'll talk about
1025
00:47:11,244 --> 00:47:16,750
the technology aspects of.
Technology. But you know, for
1026
00:47:16,833 --> 00:47:19,670
however you want it,
you probably want a roof
1027
00:47:17,835 --> 00:47:21,880
over your head.
And if you don't have it,
1028
00:47:19,670 --> 00:47:24,340
well, obviously it sucks
and you know that you want
1029
00:47:21,880 --> 00:47:26,760
to be living somewhere.
So then that what follows on from
1030
00:47:26,760 --> 00:47:30,514
that is, okay, well, what's the
incoming amount of that need?
1031
00:47:30,514 --> 00:47:34,893
Housing at least for Australia.
And I know
1032
00:47:32,599 --> 00:47:35,686
generally what the broader
Australian, but I know
1033
00:47:35,686 --> 00:47:38,230
specifically Queensland, there's
a truckload of people
1034
00:47:38,230 --> 00:47:41,358
coming into Queensland,
heaps of people still interstate
1035
00:47:39,731 --> 00:47:42,985
coming through.
I was seeing some data
1036
00:47:42,985 --> 00:47:44,862
that came out of some
brokerage conversations
1037
00:47:44,862 --> 00:47:46,864
not too long ago,
a couple of weeks ago,
1038
00:47:46,864 --> 00:47:49,574
huge amount of people
coming into Queensland
1039
00:47:47,697 --> 00:47:51,409
by international end,
you know, within Australia
1040
00:47:49,574 --> 00:47:53,369
itself. Yeah.
So again it goes, okay,
1041
00:47:51,409 --> 00:47:54,746
well you need, you need a house
people. Right.
1042
00:47:54,746 --> 00:47:56,331
And if there's not enough
housing to keep up
1043
00:47:56,331 --> 00:47:59,835
with the demand of people
coming in because guess
1044
00:47:58,250 --> 00:48:01,460
what's gonna happen to us.
It, it doesn't like.
1045
00:48:01,460 --> 00:48:03,170
So fundamentally
what's going to happen
1046
00:48:03,170 --> 00:48:06,507
when demand. Exactly
same thing with bitcoin
1047
00:48:04,590 --> 00:48:08,135
if bitcoin all of a sudden
it wasn't worth 1 million
1048
00:48:06,507 --> 00:48:10,177
or so million,
what's going to happen? Right.
1049
00:48:10,177 --> 00:48:12,889
It doesn't, it doesn't go like,
shit, it's
1050
00:48:11,637 --> 00:48:14,641
going to go down about, you know,
it'll become more valuable
1051
00:48:14,641 --> 00:48:16,518
because there's less of it
and people want it
1052
00:48:16,518 --> 00:48:22,315
like it's a, it's a almost
must have type of deal. So it's
1053
00:48:18,644 --> 00:48:24,275
like, are we a in a bubble
in parts? Yes. However,
1054
00:48:24,275 --> 00:48:26,445
there's enough demand, at least
in the Australian market,
1055
00:48:26,445 --> 00:48:29,489
that it doesn't matter
in the sense of, okay,
1056
00:48:28,405 --> 00:48:32,492
people are going to put up
the prices, rent
1057
00:48:29,489 --> 00:48:33,577
or valuation of it,
but people are going
1058
00:48:32,576 --> 00:48:36,038
to keep paying it.
Why? Well, because wages
1059
00:48:33,577 --> 00:48:37,039
are increasing as well.
If they bring down interest rates
1060
00:48:37,039 --> 00:48:39,458
and it becomes
it means that credit
1061
00:48:37,664 --> 00:48:41,710
is available easier
to Australian consumers
1062
00:48:39,458 --> 00:48:44,503
and people want it. So it's going
to keep on going.
1063
00:48:44,503 --> 00:48:45,797
I mean, I've heard of that
happening.
1064
00:48:45,797 --> 00:48:47,298
Same thing in Hong Kong,
Shanghai, obviously
1065
00:48:47,298 --> 00:48:50,469
Sydney's like going
ridiculous prices a lot of people
1066
00:48:49,425 --> 00:48:53,804
talk about. Well, yes,
the multiple
1067
00:48:51,762 --> 00:48:55,349
in the cost of a house
now compared to their salary
1068
00:48:55,349 --> 00:48:57,601
is very different
to back in the days.
1069
00:48:57,601 --> 00:49:02,188
Absolutely, totally agree. I can.
Tell you. That because there was
1070
00:49:02,188 --> 00:49:06,735
a couple of things in this video.
So from the when was it?
1071
00:49:06,735 --> 00:49:09,612
It was it was from
when my parents
1072
00:49:07,693 --> 00:49:13,867
were roughly buying. So this was
in the nineties and prices
1073
00:49:11,530 --> 00:49:15,494
have quadrupled, but incomes
have only doubled.
1074
00:49:15,494 --> 00:49:20,289
So you kind of get like
you have to either work for twice
1075
00:49:20,289 --> 00:49:24,126
as long to be able to save up to
for a deposit to get a house
1076
00:49:24,126 --> 00:49:26,963
or you have to,
you know, combine income.
1077
00:49:26,963 --> 00:49:29,048
So this was already
with combined incomes,
1078
00:49:29,048 --> 00:49:35,054
I guess for my parents day
and age and parents don't age.
1079
00:49:32,510 --> 00:49:35,722
It's like 30 years ago,
not even that.
1080
00:49:35,722 --> 00:49:39,434
I think it was maybe 20.
It could have been the late 2000,
1081
00:49:39,434 --> 00:49:44,898
early 2000 as well. But yet
it's really funny
1082
00:49:43,271 --> 00:49:45,440
with these things
because I wonder
1083
00:49:45,440 --> 00:49:51,487
how much of it actually
is a crisis versus we're just now
1084
00:49:51,487 --> 00:49:56,617
able to bitch and moan better.
Well, I very much think
1085
00:49:53,407 --> 00:49:59,746
it's been in the places
where the demand will be filled.
1086
00:49:59,996 --> 00:50:03,500
Civilisation will shift
and change to make it work.
1087
00:50:03,500 --> 00:50:07,170
What is the reality going to be
for the generation after us?
1088
00:50:07,170 --> 00:50:09,005
Like I'm talking like 20,
20 years, like people
1089
00:50:09,005 --> 00:50:12,134
who are being born today, right?
Like my like my go.
1090
00:50:12,134 --> 00:50:14,677
I think it's going to be
a transition where
1091
00:50:14,677 --> 00:50:17,054
the demand for housing is
still going to be strong.
1092
00:50:17,054 --> 00:50:20,516
There's still going to be
people wanting to
1093
00:50:17,889 --> 00:50:21,726
come to Australia again. Unless
something crazy happens,
1094
00:50:21,726 --> 00:50:22,811
there's going to be
a lot of people coming in.
1095
00:50:22,811 --> 00:50:26,440
You've got to house people
somewhere. It's going to change
1096
00:50:24,271 --> 00:50:30,360
into more of a generate or
people that do more share
1097
00:50:26,440 --> 00:50:32,237
housing, leave more in
build to rent type of styles
1098
00:50:32,237 --> 00:50:34,030
is going to shift towards
more of that.
1099
00:50:34,030 --> 00:50:36,449
Maybe living further out
from the cities
1100
00:50:36,449 --> 00:50:38,452
that might be aided
by technology and whatnot.
1101
00:50:38,452 --> 00:50:41,038
So I think those changes
are just going to happen
1102
00:50:41,038 --> 00:50:42,621
because the demand
is going to be there.
1103
00:50:42,621 --> 00:50:47,376
So it's not as easy to say like,
okay, cool, prices are
1104
00:50:43,789 --> 00:50:48,003
going to decline by 50%,
Why would they
1105
00:50:48,003 --> 00:50:50,380
if people are still willing
to be paying things to be living
1106
00:50:50,380 --> 00:50:53,550
in certain locations
and keep the prices floating,
1107
00:50:51,797 --> 00:50:56,052
could they go down?
I just don't expect them
1108
00:50:53,550 --> 00:50:58,929
to be 50% down.
That unlike other places
1109
00:50:56,052 --> 00:51:01,724
where you have things like
deserted cities, right,
1110
00:50:58,929 --> 00:51:04,143
or complete places,
Spain, Greece, a few other place,
1111
00:51:04,143 --> 00:51:06,438
things collapsed I.
Know, with their
1112
00:51:04,769 --> 00:51:08,106
their cities. Yeah. But you know,
you have examples of
1113
00:51:08,106 --> 00:51:10,025
where of okay
there's problems from
1114
00:51:10,025 --> 00:51:13,695
like a full economical
perspective, issues
1115
00:51:13,695 --> 00:51:15,947
like economic issues
not just on the assets
1116
00:51:15,947 --> 00:51:19,117
but in other assets
or in the actual currency
1117
00:51:16,989 --> 00:51:20,117
themselves.
Plus there's no demand.
1118
00:51:20,117 --> 00:51:22,496
You you could Google it up
right now.
1119
00:51:22,496 --> 00:51:25,373
I think I saw it recently,
like in Italy, but I'm sure
1120
00:51:24,371 --> 00:51:27,208
as other places they'll pay you
to go live it. They'll they'll
1121
00:51:27,208 --> 00:51:30,420
it's like you can buy
a house for a dollar the cops.
1122
00:51:30,420 --> 00:51:35,092
Yeah. Rural places. Okay.
Is it because like, man,
1123
00:51:35,092 --> 00:51:36,425
they had a bubble
and it collapsed.
1124
00:51:36,425 --> 00:51:38,637
No, motherfucker. It's
because they just.
1125
00:51:38,637 --> 00:51:39,971
There was no debate.
No one's coming to it.
1126
00:51:39,971 --> 00:51:40,931
So what are they going
to be like?
1127
00:51:40,931 --> 00:51:44,559
Please come and live here.
You know, in Australia
1128
00:51:42,766 --> 00:51:45,518
when I'm doing that, there's
other places in the world
1129
00:51:45,518 --> 00:51:47,353
we're not doing that either.
So people are just going to come
1130
00:51:47,353 --> 00:51:49,688
and pay the money
that they need to live
1131
00:51:49,688 --> 00:51:52,650
the lifestyle that they want.
Yeah, yeah. So you know what,
1132
00:51:52,650 --> 00:51:54,485
what explains
these spate of videos
1133
00:51:54,485 --> 00:51:59,324
and how much truth is, is that?
Well, I kind of put it down
1134
00:51:57,489 --> 00:52:02,994
to a couple of things.
One, I feel there's
1135
00:51:59,324 --> 00:52:06,456
the ability to voice your concern
and be loud about it
1136
00:52:06,539 --> 00:52:09,708
perhaps more easily
now than than there was
1137
00:52:09,793 --> 00:52:13,547
30 or 40 years ago.
So I'm not necessarily
1138
00:52:11,293 --> 00:52:18,510
necessarily sure, you know,
today's millennials or people
1139
00:52:15,590 --> 00:52:20,469
my age who are Gen Z
is looking to buy a house
1140
00:52:18,510 --> 00:52:24,306
for the first time. I'm not
sure that they're
1141
00:52:22,264 --> 00:52:29,146
actually have it worse.
I, I perhaps perhaps,
1142
00:52:24,306 --> 00:52:30,313
but it wouldn't be my
as much as I think
1143
00:52:30,313 --> 00:52:34,192
is is being made out
as as as like
1144
00:52:34,275 --> 00:52:37,237
Australia's housing crisis
like crisis as in like
1145
00:52:37,237 --> 00:52:38,989
holy fuck all going to die
So you think.
1146
00:52:38,989 --> 00:52:44,952
But you know you know it's
a point that's unfair. I think in
1147
00:52:42,199 --> 00:52:46,663
in this variation
and I guess we're talking
1148
00:52:44,952 --> 00:52:48,164
about property investment
and I'm like they looked into it,
1149
00:52:48,164 --> 00:52:51,876
but I just think we're 30,
40, 50 years ago. If you look at
1150
00:52:51,876 --> 00:52:53,961
the amount of people
that were living in the area
1151
00:52:53,961 --> 00:52:57,132
that you might be looking
at purchasing
1152
00:52:54,963 --> 00:53:00,302
or living in. Right.
So let's just say 50 years ago
1153
00:52:59,259 --> 00:53:01,135
and you can take
whatever location you want.
1154
00:53:01,135 --> 00:53:04,889
The world here,
whatever proximity it was to
1155
00:53:03,346 --> 00:53:06,849
the central business
district, to the central
1156
00:53:04,889 --> 00:53:08,851
area of living
or the central area
1157
00:53:06,849 --> 00:53:10,061
of entertainment,
there was just less people.
1158
00:53:10,061 --> 00:53:12,731
There was less
percentage of people
1159
00:53:11,188 --> 00:53:14,773
who were living in
that space than it is
1160
00:53:12,731 --> 00:53:16,775
comparatively to now.
If it is a place of in demand
1161
00:53:16,775 --> 00:53:21,364
York, Sydney,
Melbourne, L.A., whatever
1162
00:53:21,447 --> 00:53:25,242
the equivalent there is, hey,
we're living in a place
1163
00:53:23,324 --> 00:53:26,619
and maybe at that time
we might have been
1164
00:53:25,242 --> 00:53:27,454
considered the outskirts,
maybe it was considered
1165
00:53:27,454 --> 00:53:32,208
just there wasn't as much people.
Now there's a truckload of people
1166
00:53:30,789 --> 00:53:34,085
everyone wants to live it.
It makes sense
1167
00:53:32,208 --> 00:53:36,880
that it costs more.
You know, there might be a
1168
00:53:34,085 --> 00:53:39,423
just a shift in perspective
that, okay, 50 years ago
1169
00:53:39,423 --> 00:53:40,675
this was considered
the outskirts.
1170
00:53:40,675 --> 00:53:42,177
You're not going to have
to live in the outskirts
1171
00:53:42,177 --> 00:53:45,262
for similar prices, perhaps,
but that just means now
1172
00:53:45,262 --> 00:53:46,681
the outskirts
are just much further away
1173
00:53:46,681 --> 00:53:50,559
from their central business.
So maybe you can,
1174
00:53:47,806 --> 00:53:53,063
I guess, technically
be getting the same thing
1175
00:53:53,063 --> 00:53:56,565
in a more like theoretical view.
We've what was considered
1176
00:53:54,648 --> 00:53:59,235
the outskirts, but just now it's
technically much further away.
1177
00:53:59,235 --> 00:54:03,907
Another example actually I saw
was if you for fun you want to go
1178
00:54:02,489 --> 00:54:06,451
have a look at just random
like crazy prices,
1179
00:54:03,907 --> 00:54:07,159
go to the California hills
and you'll have a look
1180
00:54:07,159 --> 00:54:08,786
at the prices
of some of the areas
1181
00:54:08,786 --> 00:54:13,708
in California and the like.
I think every single property
1182
00:54:11,121 --> 00:54:15,376
that was sold in the last
12 months or 18 months,
1183
00:54:13,708 --> 00:54:17,753
I'm like that in this
like humungous
1184
00:54:15,376 --> 00:54:19,213
area was basically $50
million and all of it.
1185
00:54:19,213 --> 00:54:20,507
It was like
hundreds of properties.
1186
00:54:20,507 --> 00:54:24,802
Right now you look at that
and what are
1187
00:54:21,882 --> 00:54:26,887
people going to be like?
it's fucking yeah, like a bubble.
1188
00:54:26,887 --> 00:54:29,139
What's that? Happy know people
want to live in that area.
1189
00:54:29,139 --> 00:54:30,641
They're going to go
and pay for it.
1190
00:54:30,641 --> 00:54:33,228
There's not even the
conversation of people
1191
00:54:31,141 --> 00:54:35,146
who are, you know,
coming up wanting to buy
1192
00:54:33,228 --> 00:54:35,855
this house property.
There's just people.
1193
00:54:35,855 --> 00:54:37,523
Lots of people
have a lot of money
1194
00:54:36,398 --> 00:54:39,608
to be able do.
I think it could be
1195
00:54:37,523 --> 00:54:44,155
related to the point
you had, which was that
1196
00:54:39,608 --> 00:54:46,782
you had this expansion of,
you know, I had ten options
1197
00:54:46,782 --> 00:54:50,536
when I was I was, you know,
younger, had had less money,
1198
00:54:50,536 --> 00:54:53,748
had less time to accumulate,
probably even less knowledge.
1199
00:54:53,748 --> 00:54:56,543
And yet now you have,
you know, let's say
1200
00:54:56,543 --> 00:55:00,922
a thousand, so 100
hundred x change on that.
1201
00:55:01,005 --> 00:55:03,842
And then that can create
a lot of problems
1202
00:55:03,842 --> 00:55:09,722
for yourself of like,
all these dream ones that
1203
00:55:05,802 --> 00:55:11,016
I want then now like to,
you know, it's almost like
1204
00:55:11,016 --> 00:55:16,186
there's too much choices,
there's too much
1205
00:55:12,599 --> 00:55:19,773
of an ability to go on to
what's what some of the big
1206
00:55:16,771 --> 00:55:23,820
websites here to domain.
To mine property
1207
00:55:20,025 --> 00:55:26,114
I mean real estate a.
Real estate dot com today
1208
00:55:23,902 --> 00:55:27,282
you that's
these are all big websites
1209
00:55:27,282 --> 00:55:29,951
where you can just go in
and you can see everything
1210
00:55:27,907 --> 00:55:31,536
You can go you can see
the history of it.
1211
00:55:31,536 --> 00:55:32,954
You can go inside,
you can see photos
1212
00:55:32,954 --> 00:55:34,873
into all these things.
So I wonder if part of it's
1213
00:55:34,873 --> 00:55:39,251
that my other thinking
that on the opposite side was
1214
00:55:39,251 --> 00:55:43,380
in these videos,
they were talking about things
1215
00:55:40,545 --> 00:55:46,009
like the capital gains
tax discount that you can
1216
00:55:43,380 --> 00:55:47,802
get here in Australia.
So basically
1217
00:55:46,009 --> 00:55:51,347
if you buy something,
you hold it for a year
1218
00:55:47,802 --> 00:55:54,976
one, you then sell it
the the money that you
1219
00:55:51,431 --> 00:55:56,353
make off that only half of
it will get taxed.
1220
00:55:56,353 --> 00:56:01,023
So you get a discount.
And it was saying like
1221
00:55:58,021 --> 00:56:03,400
this and maybe things like
the ability to offset
1222
00:56:01,065 --> 00:56:04,735
negative gearing.
So negative gearing,
1223
00:56:04,735 --> 00:56:07,947
like I was saying before,
if you're if you're
1224
00:56:08,030 --> 00:56:13,202
mortgage is let's say 200 a week
and your your rent
1225
00:56:13,202 --> 00:56:16,039
that you're getting from
people is 150 a week and you're
1226
00:56:16,039 --> 00:56:18,375
obviously way out
in the outskirts for this
1227
00:56:18,375 --> 00:56:21,795
and the scenario that
that $50 a week difference
1228
00:56:21,795 --> 00:56:26,173
you can then use that to offset
against your own income
1229
00:56:23,170 --> 00:56:29,010
from your regular job.
And then that will lower
1230
00:56:26,173 --> 00:56:29,552
your tax overall anyway.
It was just saying
1231
00:56:29,552 --> 00:56:31,429
like things like this
where it was
1232
00:56:31,429 --> 00:56:35,891
these can create dynamics
which perhaps were on
1233
00:56:35,891 --> 00:56:38,811
the scene unintended
and they had some graphs
1234
00:56:38,811 --> 00:56:40,563
and you could kind of
look at it and be like,
1235
00:56:40,563 --> 00:56:44,858
yeah, you know, capital
gains discount tax discount
1236
00:56:42,690 --> 00:56:45,818
was introduced here.
Massive offset
1237
00:56:45,818 --> 00:56:49,947
between house prices
and the amount of income someone.
1238
00:56:50,155 --> 00:56:52,992
And so it's like, well, okay,
maybe that had something
1239
00:56:51,574 --> 00:56:57,539
to do with it. And I do I could
I could understand why yes
1240
00:56:57,539 --> 00:57:00,416
you know what now
objectively would be
1241
00:57:00,416 --> 00:57:04,503
harder for someone in the
twenties and thirties to buy
1242
00:57:04,586 --> 00:57:07,757
because of factors
outside the control
1243
00:57:07,840 --> 00:57:10,552
made by government
on policy stuff.
1244
00:57:10,552 --> 00:57:15,514
And then, you know,
because I 100% believe
1245
00:57:12,219 --> 00:57:20,811
this with inflation and
and how how money is
1246
00:57:15,639 --> 00:57:23,021
created slash used in the
in the fiat world. And I go
1247
00:57:21,646 --> 00:57:26,025
this is facts like there's
so many bad things
1248
00:57:23,021 --> 00:57:27,360
that come from this
or unintended things.
1249
00:57:27,360 --> 00:57:30,155
Yeah I could 100% understand
why there would be
1250
00:57:30,155 --> 00:57:33,407
a housing crisis
or a bubble caused by
1251
00:57:33,490 --> 00:57:38,954
other random, you know,
usually older, wealthier
1252
00:57:35,952 --> 00:57:40,956
people making decisions
in parliament and politics
1253
00:57:40,956 --> 00:57:45,085
and all that sort of jazz
which ends up
1254
00:57:42,666 --> 00:57:46,003
having consequences down.
The line for other people,
1255
00:57:46,003 --> 00:57:47,505
I could 100% believe
that as well.
1256
00:57:47,505 --> 00:57:50,132
So I think it's probably
a mixture of both. Yeah,
1257
00:57:50,132 --> 00:57:51,175
a little bit of bitching
and moaning
1258
00:57:51,175 --> 00:57:54,471
going on, but also like,
yeah, there's a little bit
1259
00:57:52,510 --> 00:57:56,222
of justification for it.
Yeah look for sure. But again,
1260
00:57:56,222 --> 00:57:58,182
and one other aspect
I was having in my mind
1261
00:57:58,182 --> 00:58:03,313
and something that I saw as well.
There was, there was a Australia
1262
00:58:01,811 --> 00:58:04,646
obviously specific here,
but I think this probably applies
1263
00:58:04,646 --> 00:58:07,817
to most places in the world.
So if you're listening
1264
00:58:05,898 --> 00:58:10,527
to this from another area,
they was a potential
1265
00:58:07,817 --> 00:58:14,282
investment property
that was looking to buy
1266
00:58:10,527 --> 00:58:17,619
2017, 2018,
this was on the outskirts
1267
00:58:14,364 --> 00:58:21,371
of Melbourne to the east,
one hour out, one hour and a half
1268
00:58:18,869 --> 00:58:22,414
actually on the train run
and housing,
1269
00:58:22,414 --> 00:58:25,251
whatever it was, 2017,
2018 and I looked
1270
00:58:23,416 --> 00:58:26,376
at that property,
never going to buy it
1271
00:58:25,251 --> 00:58:29,172
and I looked
at that property again
1272
00:58:26,376 --> 00:58:31,215
just by. That so far away.
Well, specifically top
1273
00:58:29,172 --> 00:58:32,884
my mentality.
Was any way you could.
1274
00:58:32,884 --> 00:58:35,094
Yeah, my mentality
was at the time
1275
00:58:35,094 --> 00:58:37,514
I still have limited funds
to be able to buy things.
1276
00:58:37,514 --> 00:58:41,559
The houses out there
were still fairly cheap. Yeah,
1277
00:58:39,556 --> 00:58:43,686
I had a mentality of, Hey,
I can see in Sydney,
1278
00:58:41,559 --> 00:58:45,313
you know, talking about
Penrith and like,
1279
00:58:43,686 --> 00:58:46,481
Hey, that's an hour
to get into the city.
1280
00:58:46,481 --> 00:58:47,773
They also wasn't
to really price up,
1281
00:58:47,773 --> 00:58:51,693
in fact houses around there
like $1,000,000
1282
00:58:48,690 --> 00:58:52,737
now, so going well, shit.
Thinking similarly from Melbourne
1283
00:58:52,737 --> 00:58:55,072
perspective, maybe
it's on the outskirts
1284
00:58:55,072 --> 00:58:57,282
where people start living
in, they're moving
1285
00:58:57,282 --> 00:58:59,619
in, it gets all this
sort of stuff. I was thinking,
1286
00:58:59,619 --> 00:59:02,413
I looked at it,
you know, quite recently,
1287
00:59:02,413 --> 00:59:05,500
the $0 in couple games, nothing.
That place is going up at all.
1288
00:59:05,500 --> 00:59:10,630
So you know, you got shit.
I mean, friggin plenty
1289
00:59:07,626 --> 00:59:12,005
years left on nothing.
It literally
1290
00:59:10,630 --> 00:59:13,507
hasn't gone up at all.
So if you wanted to go
1291
00:59:12,005 --> 00:59:14,634
and live out there,
you can still live on,
1292
00:59:14,634 --> 00:59:16,760
you know, dirt cheap an hour
away from one hour
1293
00:59:16,760 --> 00:59:20,722
plus away from Melbourne,
but likelihood no one's
1294
00:59:18,471 --> 00:59:23,226
going to live there.
So you look at a bubble
1295
00:59:20,722 --> 00:59:25,061
perspective, you'll have to
look at the okay way
1296
00:59:25,061 --> 00:59:26,436
because you can
definitely find placements
1297
00:59:26,436 --> 00:59:28,815
are going to be nice and cheap.
You're just probably
1298
00:59:27,813 --> 00:59:29,856
living somewhere
that people don't want
1299
00:59:28,815 --> 00:59:31,693
to live for.
Sure, which gets them
1300
00:59:29,856 --> 00:59:35,445
to the last point. Location,
location, location. I missed out
1301
00:59:33,945 --> 00:59:36,072
one of the locations
in the thumbnail.
1302
00:59:36,072 --> 00:59:40,827
There's only two, but that
does get to that point of
1303
00:59:40,909 --> 00:59:43,913
you know what?
What is it about property
1304
00:59:42,036 --> 00:59:47,291
that that's
so appealing, enticing
1305
00:59:43,913 --> 00:59:49,751
and a large portion of it is the
the location of the thing
1306
00:59:49,751 --> 00:59:54,047
being able
to be close to your work
1307
00:59:54,132 --> 00:59:58,844
all all those
you know it's it's rare
1308
00:59:55,717 --> 01:00:05,143
it feels like it's rare
that the actual house itself
1309
01:00:00,012 --> 01:00:06,518
is that much a part of the
decision making process.
1310
01:00:06,518 --> 01:00:10,565
You know, does it have
five rooms or is it,
1311
01:00:08,271 --> 01:00:12,400
you know, this does
have these type of architraves?
1312
01:00:12,400 --> 01:00:13,610
Maybe in the case
of my brother's,
1313
01:00:13,610 --> 01:00:16,528
it would probably
be a bigger aspect
1314
01:00:16,528 --> 01:00:20,365
because it is such a weird house.
But, you know,
1315
01:00:17,947 --> 01:00:22,619
usually it's related to
is it next to the river?
1316
01:00:20,365 --> 01:00:25,246
I have a boat. I want to
I want to park my boat
1317
01:00:23,286 --> 01:00:26,914
outside of my house.
Or is it close to this place
1318
01:00:26,914 --> 01:00:29,000
where I get a view?
Is it close to
1319
01:00:29,000 --> 01:00:31,710
these catchment areas,
these sort of things?
1320
01:00:31,793 --> 01:00:35,505
Do you think that the location
aspect of property
1321
01:00:35,505 --> 01:00:39,010
and is getting into the
predictions of the future,
1322
01:00:39,092 --> 01:00:42,804
could that change with? Well,
technology is one thing
1323
01:00:42,804 --> 01:00:43,931
we should probably talk
about, say
1324
01:00:43,931 --> 01:00:48,436
the metaverse, you know, would
there's a thing
1325
01:00:47,226 --> 01:00:50,355
where I've slightly
changed my tune where I was like,
1326
01:00:50,355 --> 01:00:53,690
the metaverse seemed like
the dumbest thing I'd ever heard
1327
01:00:53,690 --> 01:00:55,610
probably two years ago
when I was real hyped
1328
01:00:55,610 --> 01:00:57,527
up, You know, Facebook changed
their name to met
1329
01:00:57,527 --> 01:01:00,530
all that, sorted
all that sort of shit.
1330
01:01:00,614 --> 01:01:02,824
And I thought
it was the dumbest thing.
1331
01:01:02,824 --> 01:01:06,579
So it was just like,
we're still going to be
1332
01:01:04,242 --> 01:01:10,708
in the physical world
and you're still just going
1333
01:01:08,748 --> 01:01:12,335
to have to need a property
and things like this.
1334
01:01:12,335 --> 01:01:15,838
And I kind of had it in
my mind where it was a one
1335
01:01:15,838 --> 01:01:21,677
versus zero flip. The, you know.
Prices, house prices
1336
01:01:19,300 --> 01:01:22,929
in the real world wouldn't
really matter anymore
1337
01:01:22,929 --> 01:01:24,429
because everything
would be in the metaverse.
1338
01:01:24,429 --> 01:01:28,059
And that's where, you know,
almost all the money
1339
01:01:25,972 --> 01:01:29,811
would go almost. All the decision
making about location
1340
01:01:29,811 --> 01:01:31,853
would be your location in
the metaverse, you know?
1341
01:01:31,853 --> 01:01:34,148
Is this possible?
Yeah, yeah, yeah.
1342
01:01:34,148 --> 01:01:37,943
That sort of thing.
I'm kind of changing
1343
01:01:36,025 --> 01:01:40,655
my chain around my.
Okay, I can see
1344
01:01:40,655 --> 01:01:44,409
the digital worlds
getting crazier. We will spend
1345
01:01:42,824 --> 01:01:47,954
more time in it,
so maybe it'll be only
1346
01:01:44,409 --> 01:01:50,081
like a 10% difference
where it's like 10% of the money
1347
01:01:50,081 --> 01:01:52,875
that would be in
housing here in Australia
1348
01:01:52,875 --> 01:01:58,840
goes into housing in the
in the digital world
1349
01:01:55,836 --> 01:02:02,592
where you have a at it.
And I hesitate to say
1350
01:01:59,590 --> 01:02:06,556
like a property
there, which is what
1351
01:02:02,592 --> 01:02:09,434
the metaverse is. But
you know, in some cases
1352
01:02:06,639 --> 01:02:11,768
I would say Bitcoin if Bitcoin
hadn't come around,
1353
01:02:11,768 --> 01:02:13,688
where would I be
spending my money now?
1354
01:02:13,688 --> 01:02:15,188
It still probably
would be in stocks,
1355
01:02:15,188 --> 01:02:19,902
but I would certainly have
been thinking a lot more about
1356
01:02:19,985 --> 01:02:24,364
housing now, housing, housing.
So it's one of those ones
1357
01:02:22,237 --> 01:02:27,159
where it's like, you know,
maybe Bitcoin is the,
1358
01:02:27,159 --> 01:02:28,994
you know, people say it
as a store of value.
1359
01:02:28,994 --> 01:02:30,913
Well, that's how a lot of
people view housing.
1360
01:02:30,913 --> 01:02:34,208
So you could kind of say,
okay, technology has
1361
01:02:34,291 --> 01:02:39,338
altered that scenario
a bit and it's now instead of
1362
01:02:39,338 --> 01:02:41,798
a store of value of being gold
and your house,
1363
01:02:41,798 --> 01:02:44,760
that sort of thing, it's like,
okay, well, maybe bitcoin's a
1364
01:02:44,760 --> 01:02:49,681
part of that as well now.
So what do you think that
1365
01:02:45,719 --> 01:02:52,893
there'll be big changes
in the future related to housing?
1366
01:02:52,976 --> 01:02:54,478
You know,
the great Australian dream
1367
01:02:54,478 --> 01:02:55,938
of owning a home,
that sort of thing.
1368
01:02:55,938 --> 01:02:59,317
Will that matter as much in terms
of like the cultural sway,
1369
01:02:59,317 --> 01:03:07,282
in terms of where people
spend money, all that, all those
1370
01:03:02,652 --> 01:03:10,077
questions related to that?
Yes, I think I think
1371
01:03:10,077 --> 01:03:14,623
I think, you know, fast
forwarding in a. Way
1372
01:03:14,706 --> 01:03:18,543
what you mean. Yes. Yes.
In terms. Yes, I think.
1373
01:03:15,833 --> 01:03:20,630
The things will change or.
Yes, I yes, I do believe that
1374
01:03:20,630 --> 01:03:22,632
the mentality
of still wanting to own
1375
01:03:22,632 --> 01:03:24,467
a house, buy
a house, buy an asset
1376
01:03:24,467 --> 01:03:27,844
for a purpose of having a roof.
Is still be a big. Thing.
1377
01:03:27,844 --> 01:03:31,264
Yeah, it's going to be important,
even even in the metaverse
1378
01:03:28,929 --> 01:03:31,932
side of things.
Why do I think that?
1379
01:03:31,932 --> 01:03:33,893
I think there's going
to be more distribution
1380
01:03:33,893 --> 01:03:37,980
of living location
So if you could be a 100%
1381
01:03:37,980 --> 01:03:39,815
remote work, connect
with all of your friends
1382
01:03:39,815 --> 01:03:42,068
from a Metaverse perspective,
then you might just
1383
01:03:42,068 --> 01:03:45,862
go and live 5 hours
away in the woods somewhere
1384
01:03:44,110 --> 01:03:48,114
in a cheap location
and you can just live out
1385
01:03:45,862 --> 01:03:49,199
and have a big about lane
and chill out because you can't.
1386
01:03:49,199 --> 01:03:50,909
You can connect
with everyone that way.
1387
01:03:50,909 --> 01:03:52,452
Obviously not
everyone is going to be the way
1388
01:03:52,452 --> 01:03:54,204
you want to talk
to people in person,
1389
01:03:54,204 --> 01:03:56,206
but maybe you can do it
a bit further away.
1390
01:03:56,206 --> 01:03:58,458
I've talked to people
in my office where they said
1391
01:03:57,666 --> 01:04:01,295
that, you know,
if they could work 100%
1392
01:03:58,458 --> 01:04:02,338
remote from home,
they're probably just
1393
01:04:01,295 --> 01:04:04,090
moved further away, like 2 hours
away from the city,
1394
01:04:04,090 --> 01:04:06,675
away from the city, because
you don't have to
1395
01:04:05,590 --> 01:04:09,594
come in as often.
And you could do that
1396
01:04:06,675 --> 01:04:13,181
once a trip in.
So that aspect of it,
1397
01:04:09,594 --> 01:04:15,518
I could see it, you know,
diverging the prices
1398
01:04:13,224 --> 01:04:16,978
because then know you've only got
so many people wanting
1399
01:04:16,978 --> 01:04:19,521
to live kind of close
into centres.
1400
01:04:19,521 --> 01:04:22,983
Yeah. Of, of commute.
If that changes
1401
01:04:20,648 --> 01:04:24,402
I can distribute to people
inside, moves away develop
1402
01:04:24,402 --> 01:04:29,114
so that might be one way
where the the bubble
1403
01:04:26,737 --> 01:04:30,615
of central locations dissipates
and then it moves.
1404
01:04:30,615 --> 01:04:34,661
I would just say
so that it does that
1405
01:04:32,284 --> 01:04:35,454
just that the the values
deflate slowly.
1406
01:04:35,454 --> 01:04:37,748
Well a lot of the flights it just
it's the same amount of
1407
01:04:37,748 --> 01:04:42,253
I think value just moving
elsewhere. It's just distributed
1408
01:04:40,543 --> 01:04:43,420
across the board. If you actually
look at Australian,
1409
01:04:43,420 --> 01:04:46,507
how much is like the location
of the population versus
1410
01:04:44,797 --> 01:04:49,260
the land, like we just got such a
ridiculous amount of land,
1411
01:04:47,592 --> 01:04:50,510
but nobody lives there. Yeah,
well we're on the coast.
1412
01:04:50,510 --> 01:04:53,139
You can distribute that, right?
You could go buy
1413
01:04:51,429 --> 01:04:55,181
the cheapest house
like you'd want
1414
01:04:53,139 --> 01:04:56,474
and probably 12 hours
away from Brisbane,
1415
01:04:56,474 --> 01:04:59,686
you probably buy something
real dirt cheap is going to get
1416
01:04:57,643 --> 01:05:01,355
some good into York.
So yeah, we'll change it. Yeah.
1417
01:05:01,355 --> 01:05:03,231
Some some way it impacts
but I don't think
1418
01:05:03,231 --> 01:05:06,818
it'll change the fact
that people wanting to either own
1419
01:05:05,025 --> 01:05:08,445
or want to be in a house
apartment, whatever it may be,
1420
01:05:08,445 --> 01:05:11,865
and live in that sort of space
and be able to, you know,
1421
01:05:11,865 --> 01:05:13,826
cherish it or build upon it
or something like that,
1422
01:05:13,826 --> 01:05:14,994
I don't think
that'll change too much.
1423
01:05:14,994 --> 01:05:17,914
How about the so in the book,
the inevitable,
1424
01:05:17,914 --> 01:05:24,253
inevitable, the inevitable
that the book review I did
1425
01:05:21,250 --> 01:05:28,590
recently from Kevin Kelly,
he had this idea of these,
1426
01:05:24,336 --> 01:05:33,762
these kind of locations
where it's very
1427
01:05:28,590 --> 01:05:35,264
how how would I put it?
I've forgotten the verb
1428
01:05:33,762 --> 01:05:36,766
he used for it,
but it was essentially,
1429
01:05:36,766 --> 01:05:39,936
you will live in a place
where it's just expendable
1430
01:05:39,936 --> 01:05:44,023
and everything is expendable.
It's Not you don't own anything.
1431
01:05:44,023 --> 01:05:47,610
It's kind of like you
don't, you know, you'll own
1432
01:05:45,690 --> 01:05:48,818
nothing and be happy.
Usually, you know,
1433
01:05:48,818 --> 01:05:52,030
when when you hear that
at least in the Bitcoin
1434
01:05:49,778 --> 01:05:54,659
world, that's that's.
Whoa. Yeah. That's, that's
1435
01:05:52,030 --> 01:05:58,329
kind of like your. Yeah,
you're like the globalists
1436
01:05:55,576 --> 01:05:59,956
are trying to get you
to give up everything
1437
01:05:58,329 --> 01:06:01,873
and that alone. And there's
a certain extent to that.
1438
01:06:01,873 --> 01:06:05,085
But I can also see for
certain aspects of my life
1439
01:06:05,085 --> 01:06:06,295
where I'm like, Yeah,
you know what?
1440
01:06:06,295 --> 01:06:09,255
I don't need to own that.
Like, I don't need to own
1441
01:06:07,922 --> 01:06:10,382
a house. I'm kind of fine
with that.
1442
01:06:10,382 --> 01:06:12,550
And maybe that'll never
change for me.
1443
01:06:12,550 --> 01:06:14,719
I've always kind of
just been like
1444
01:06:14,719 --> 01:06:19,724
different things. Okay, Obviously
things could
1445
01:06:18,306 --> 01:06:21,184
change if I have a family
and I was like,
1446
01:06:19,724 --> 01:06:23,103
I'd want more security
and that sort of thing.
1447
01:06:23,103 --> 01:06:26,065
But would you
do you think that sort of
1448
01:06:26,065 --> 01:06:28,358
lifestyle
will ever have an appeal
1449
01:06:28,358 --> 01:06:33,989
to people broadly or maybe even
just a certain type
1450
01:06:30,987 --> 01:06:36,409
of people where
instead of needing
1451
01:06:34,030 --> 01:06:37,201
to own their own home
in the city,
1452
01:06:37,201 --> 01:06:40,621
they've got an apartment
which they only sleep in
1453
01:06:40,704 --> 01:06:42,456
half the time
because they're half,
1454
01:06:42,456 --> 01:06:47,085
half the other time
they're sleeping at their
1455
01:06:43,206 --> 01:06:47,795
parents or at a partners
or something like that.
1456
01:06:47,795 --> 01:06:54,217
And so it's just very chop
and change. And, you know,
1457
01:06:51,215 --> 01:06:56,262
I'm in Brisbane today
like heart of the city centre
1458
01:06:56,262 --> 01:06:57,972
and going to West End
to see some friends.
1459
01:06:57,972 --> 01:07:00,599
I'll just stay at West End
overnight because.
1460
01:07:00,599 --> 01:07:02,684
There's an apartment there
which is a chop
1461
01:07:02,684 --> 01:07:04,894
and change, one where
I can just stay there
1462
01:07:03,686 --> 01:07:06,230
for the night. Yeah, I mean, not,
not anymore.
1463
01:07:06,230 --> 01:07:09,733
That happens already.
Now, I do know people
1464
01:07:06,938 --> 01:07:12,277
who do that nowadays.
That's not like a thing
1465
01:07:09,733 --> 01:07:14,155
that I'd have to go on. I call.
Well, it's kind of strange
1466
01:07:12,610 --> 01:07:16,364
like that happens.
How do they do that? By, like.
1467
01:07:16,364 --> 01:07:18,034
Staying at a friend's
place, I'm guessing.
1468
01:07:18,034 --> 01:07:20,786
Usually some of what I've seen it
a couple of people like some work
1469
01:07:20,786 --> 01:07:22,621
perspective guy
who used to live here.
1470
01:07:22,621 --> 01:07:26,000
He lives 2 hours away, basically
from the Centre City tunnels.
1471
01:07:26,000 --> 01:07:27,333
He'd come in.
He'd just basically he'd
1472
01:07:27,333 --> 01:07:31,963
stay in the city like a hotel.
Like maybe A to get a
1473
01:07:30,378 --> 01:07:33,632
B for two or three nights
smash out of work, which is.
1474
01:07:33,632 --> 01:07:36,260
An equivalent. Of that. I've seen
the sort of thing
1475
01:07:36,260 --> 01:07:39,304
I've seen people do the do
come in from somewhere.
1476
01:07:39,346 --> 01:07:43,059
So I'm going to say anybody
try on a West end place
1477
01:07:40,806 --> 01:07:44,226
and then the next day
I'm going to go
1478
01:07:43,059 --> 01:07:47,353
staying somewhere else
and just go to basically
1479
01:07:44,226 --> 01:07:50,315
something that's finished
and just sleep and not
1480
01:07:47,353 --> 01:07:55,695
really be liked, I guess. Yeah,
I've seen that as well. Will we
1481
01:07:52,860 --> 01:07:55,987
move more towards that?
I don't know.
1482
01:07:55,987 --> 01:07:58,074
I don't think any more
than not to be honest.
1483
01:07:58,074 --> 01:08:02,369
Like the more I see it,
the more technology
1484
01:08:02,369 --> 01:08:05,706
coming coming into place.
I kind of disagree
1485
01:08:03,788 --> 01:08:06,373
a little bit with Kevin
Kelly in the sense
1486
01:08:06,373 --> 01:08:08,626
that, we're going to go
into this place where it's
1487
01:08:08,626 --> 01:08:11,836
just all like
holding together, living
1488
01:08:09,460 --> 01:08:13,630
in an expendable place.
I go, not really.
1489
01:08:13,630 --> 01:08:15,007
I feel like it's going
to go the opposite way,
1490
01:08:15,007 --> 01:08:17,676
where you now
have the opportunity to
1491
01:08:17,676 --> 01:08:21,555
have your own whole place
in a further away location
1492
01:08:20,054 --> 01:08:23,474
and then connect digitally
to all the people. Kind of go
1493
01:08:22,515 --> 01:08:25,266
more towards that
where you'd be like,
1494
01:08:23,474 --> 01:08:27,770
no, I can own
a lot of other things now
1495
01:08:25,266 --> 01:08:29,646
and still. Want a grand
mahogany table.
1496
01:08:29,646 --> 01:08:33,109
Yeah, I think the. Carvings.
Well, you know,
1497
01:08:31,314 --> 01:08:35,277
what's the offset?
I think the offset here is
1498
01:08:35,277 --> 01:08:37,529
from out of his perspective
or whatever else, only
1499
01:08:37,529 --> 01:08:40,282
unless it costs is equivalent,
which I don't think
1500
01:08:38,863 --> 01:08:42,909
it will be right. There's always
costs of people going to
1501
01:08:42,993 --> 01:08:47,832
clothing, travel, things, the
affects of our business
1502
01:08:45,829 --> 01:08:49,332
or whatever it might be.
But if you cut all that out
1503
01:08:49,332 --> 01:08:51,627
and maybe 10% of it
goes into the metaverse
1504
01:08:51,627 --> 01:08:54,755
in the sense of service costs,
Internet costs, putting in
1505
01:08:54,755 --> 01:08:58,716
you're buying new clothes
or whatever it might be. Yeah.
1506
01:08:58,716 --> 01:08:59,760
And then you have
the rest of spend.
1507
01:08:59,760 --> 01:09:02,470
Well then that becomes
disposable income. And, you know,
1508
01:09:02,470 --> 01:09:04,681
I kind of feel like people
just tend towards
1509
01:09:04,681 --> 01:09:07,059
spending it on property
or, other things that they want
1510
01:09:07,059 --> 01:09:09,019
to just enjoying themselves
or have to themselves.
1511
01:09:09,019 --> 01:09:12,480
Like, yeah, I disagree
with Kevin Kelly. I disagree.
1512
01:09:12,480 --> 01:09:15,693
would you ever rent out
your place as an Airbnb?
1513
01:09:15,693 --> 01:09:19,697
If you were going somewhere else
for two weeks or three weeks?
1514
01:09:19,697 --> 01:09:22,533
My own place? Yep. Not not, not,
not definitely
1515
01:09:22,533 --> 01:09:24,284
the place that I like,
where I've had like
1516
01:09:24,284 --> 01:09:26,744
my family home for sure.
Not I've never really wanted to.
1517
01:09:26,744 --> 01:09:29,664
In fact, I've been offered
to do Airbnb out of,
1518
01:09:29,664 --> 01:09:32,710
you know, other properties
as well to do it. And it's
1519
01:09:31,750 --> 01:09:35,796
probably more income.
I just go like that. Why?
1520
01:09:35,880 --> 01:09:37,088
This gets
to the point of, you know,
1521
01:09:37,088 --> 01:09:39,175
if a property manager takes you
a little bit to manage,
1522
01:09:39,175 --> 01:09:41,886
I think an Airbnb takes
a lot more to manage.
1523
01:09:41,886 --> 01:09:45,055
In fact, to you
can pay someone to manage
1524
01:09:45,264 --> 01:09:48,725
Airbnb for you and they take
a lot of money to look into it,
1525
01:09:48,725 --> 01:09:50,685
a lot of money
that they take out of that
1526
01:09:50,685 --> 01:09:53,939
because it's so hard to manage.
So on, those guys don't
1527
01:09:52,188 --> 01:09:55,565
deal with it.
Yeah, interesting well,
1528
01:09:53,939 --> 01:09:57,775
especially where you're at,
which is kind of like
1529
01:09:57,775 --> 01:10:01,905
a party zone, right?
People like car and coming in
1530
01:10:01,905 --> 01:10:05,533
and trashing your place.
Yeah. Daily dying down
1531
01:10:03,114 --> 01:10:06,911
and I wouldn't be any fun.
But yeah, I might have some more
1532
01:10:06,911 --> 01:10:11,247
interesting insights into this
in like five months,
1533
01:10:08,746 --> 01:10:12,957
six months time.
If I'm travelling and
1534
01:10:12,957 --> 01:10:17,796
living there, the non property
dependent location,
1535
01:10:16,002 --> 01:10:19,172
you know, I'm just,
I'll still probably get an Airbnb
1536
01:10:19,172 --> 01:10:21,884
for a fair chunk of it,
but it'll be interesting.
1537
01:10:21,884 --> 01:10:24,136
At least
it seems like since COVID
1538
01:10:24,136 --> 01:10:28,181
the hostel type of world
has changed a lot from.
1539
01:10:28,390 --> 01:10:31,268
The trauma itself.
But again, look,
1540
01:10:29,975 --> 01:10:32,770
just think about it
just broadly from a
1541
01:10:31,268 --> 01:10:34,063
housing perspective, talk
about location, talk about it.
1542
01:10:34,063 --> 01:10:36,689
It just depends where you are.
And if you're a person
1543
01:10:36,689 --> 01:10:38,234
who's single
and you go through life
1544
01:10:38,234 --> 01:10:41,945
and you never have a partner,
you never have kids, shit,
1545
01:10:39,693 --> 01:10:43,863
that's very different.
You can be mobile,
1546
01:10:41,945 --> 01:10:45,282
you can do that,
and people want to live that way.
1547
01:10:45,282 --> 01:10:48,493
Sure, this is real life.
If you decide to go on the path
1548
01:10:48,493 --> 01:10:52,456
of being with partner partners,
you know,
1549
01:10:50,746 --> 01:10:53,666
slightly different to you.
They do want a place to,
1550
01:10:53,666 --> 01:10:55,125
you know, they want
to buy their things
1551
01:10:55,125 --> 01:10:57,043
and have the nice table
or something like that.
1552
01:10:57,043 --> 01:10:58,962
You're shit out of luck.
You fucking want to be like,
1553
01:10:58,962 --> 01:11:02,257
I want to move all the time.
Good luck.
1554
01:11:00,256 --> 01:11:04,760
That's going to suck you.
If you ever move house properly
1555
01:11:02,925 --> 01:11:05,469
with a lot of furniture,
you don't wanna do that.
1556
01:11:05,469 --> 01:11:06,970
But they are right
on the very top
1557
01:11:06,970 --> 01:11:09,097
of like most stressful
things to do in life.
1558
01:11:09,097 --> 01:11:11,850
So don't do that. If you
got to the point of having
1559
01:11:11,850 --> 01:11:15,104
kids make that can again,
people do this.
1560
01:11:15,104 --> 01:11:19,858
I'm sure they do do this,
but good luck enjoying
1561
01:11:16,729 --> 01:11:21,193
moving your kid around
school year to year.
1562
01:11:21,193 --> 01:11:23,279
This is a reason why
people who are in the army
1563
01:11:23,279 --> 01:11:25,197
who have to move
every year say like, Man,
1564
01:11:25,197 --> 01:11:28,867
this fucking sucks as a kid
to move around all the time or go
1565
01:11:28,867 --> 01:11:32,621
and make new friends or they want
well centre particular catchment
1566
01:11:32,621 --> 01:11:34,872
people move
for these certain things.
1567
01:11:34,872 --> 01:11:37,167
Unless that changes
drastically, a guy just
1568
01:11:37,167 --> 01:11:40,087
changes the life.
Same thing with, you know,
1569
01:11:37,917 --> 01:11:41,380
to get to an older age,
there's a reason people downsize.
1570
01:11:41,380 --> 01:11:43,548
You know,
you don't stay with a home
1571
01:11:41,587 --> 01:11:44,757
that's five bedrooms.
The only two people
1572
01:11:44,757 --> 01:11:48,595
like it changes to what
you want to be doing, the things
1573
01:11:46,801 --> 01:11:50,264
you want to be doing. I think
all stages of life,
1574
01:11:50,264 --> 01:11:51,974
you know, adapt themselves
to a particular thing.
1575
01:11:51,974 --> 01:11:53,766
Obviously, that changes
what you're looking from
1576
01:11:53,766 --> 01:11:56,520
a housing perspective
and all the variabilities.
1577
01:11:56,603 --> 01:11:59,105
So you have to
be aware of that for sure.
1578
01:11:59,105 --> 01:12:01,608
Yeah, Yeah. I suppose
just my little summary
1579
01:12:01,608 --> 01:12:04,153
kind of similar,
you know, everything
1580
01:12:04,153 --> 01:12:08,114
we were saying, even, you know,
if there is a big housing
1581
01:12:05,279 --> 01:12:11,827
crisis and bubble,
you can still find gems
1582
01:12:08,114 --> 01:12:13,244
within certain locations.
I'm sure there is still a
1583
01:12:13,244 --> 01:12:16,414
a bargain to be had here
and there and probably
1584
01:12:16,414 --> 01:12:19,835
lots of places as well.
That being said, you know,
1585
01:12:19,835 --> 01:12:24,422
big things do change stuff.
Olympics coming here
1586
01:12:21,337 --> 01:12:26,466
to Brisbane in ten,
nine years time, that's possibly
1587
01:12:25,591 --> 01:12:28,926
going to change
like a whole lot of shit
1588
01:12:26,466 --> 01:12:31,930
for the three
or four years around that
1589
01:12:28,926 --> 01:12:34,975
in terms of rent,
in terms of buying because just
1590
01:12:35,141 --> 01:12:36,685
that's just going
to make things weird.
1591
01:12:36,685 --> 01:12:38,729
Then, you know, you just
have to deal with that.
1592
01:12:38,729 --> 01:12:42,940
If you are the 18 year old
at this moment
1593
01:12:40,814 --> 01:12:44,568
listening to this podcast
and then going like, shit,
1594
01:12:44,568 --> 01:12:47,195
I want to buy property
in six years time. And it's like,
1595
01:12:47,195 --> 01:12:48,822
shit, Brisbane's
getting the Olympics. Like,
1596
01:12:48,822 --> 01:12:50,908
is this going to factor
into decision making?
1597
01:12:50,908 --> 01:12:55,537
Yeah, we'll probably,
probably will have some
1598
01:12:52,201 --> 01:12:57,706
sort of impacts to have.
For myself personally,
1599
01:12:55,621 --> 01:12:59,375
I don't know.
What Do you ever see me
1600
01:12:57,706 --> 01:13:03,670
owning a home? Can you ever see
in a home? I just. I don't know.
1601
01:13:03,670 --> 01:13:05,255
I don't know.
It's up in the air for me.
1602
01:13:05,255 --> 01:13:06,547
There's
only there's only one way.
1603
01:13:06,547 --> 01:13:08,966
There's only one way car
and will be owning a home
1604
01:13:08,966 --> 01:13:12,845
with furniture. And that'll be.
Yeah, I get with the person
1605
01:13:12,845 --> 01:13:16,934
that's probably the baby.
Yeah. Yeah. Or at the very least,
1606
01:13:14,806 --> 01:13:17,684
like, nice furniture.
Yeah. It'll be.
1607
01:13:17,684 --> 01:13:19,603
It'll be your partner
Slash having a kid
1608
01:13:19,603 --> 01:13:21,396
that's the only thing
that's going man.
1609
01:13:21,396 --> 01:13:25,149
Man, I hope she's got
an interior design because
1610
01:13:25,234 --> 01:13:28,987
if it's up to me, it's up to me.
It's not going to look
1611
01:13:27,194 --> 01:13:30,823
pretty. Now.
I Lucked out on that.
1612
01:13:28,987 --> 01:13:32,949
I'm locked up.
Yeah, I was outside
1613
01:13:30,823 --> 01:13:35,243
and someone did, actually.
Yeah, you. Did.
1614
01:13:32,949 --> 01:13:36,412
The place looks nice.
It's not because of me. Yeah, it.
1615
01:13:36,412 --> 01:13:39,081
It looks shit. It's
because of me. Yeah. Yeah, it's.
1616
01:13:39,081 --> 01:13:40,832
It's not. It's not. It's
not because of me.
1617
01:13:40,832 --> 01:13:43,752
It's in spite of me. Yeah, except
things are looking. Yeah, yeah.
1618
01:13:43,752 --> 01:13:46,087
Yeah. Your house was very,
very nice. Which.
1619
01:13:46,087 --> 01:13:49,216
And some triggered this.
Some reason for diving it.
1620
01:13:49,216 --> 01:13:52,845
It was fun. I enjoyed.
I enjoyed an episode where it was
1621
01:13:52,845 --> 01:13:55,305
a bit more concrete
than than the last couple
1622
01:13:55,305 --> 01:14:01,520
that we've got. So this was good
in terms of
1623
01:13:58,516 --> 01:14:03,313
if someone is listening,
you know, that young
1624
01:14:03,396 --> 01:14:05,231
18 year old Australian and
they wanted to know more
1625
01:14:05,231 --> 01:14:08,734
about like investing in property
or how to think about it,
1626
01:14:08,734 --> 01:14:10,069
you'd recommend
the property catch.
1627
01:14:10,069 --> 01:14:14,240
And I'd probably counsel really.
When I listen to them,
1628
01:14:11,195 --> 01:14:15,242
it seem to make sense.
They seem to focus on
1629
01:14:15,242 --> 01:14:18,619
like fundamentals
and rules of thumbs
1630
01:14:18,703 --> 01:14:22,332
and in a logical way.
So that's in pretty good.
1631
01:14:22,332 --> 01:14:25,836
Any other recommendations
you've had over the Buy
1632
01:14:25,836 --> 01:14:29,965
Ones master spreadsheet
and the one grand? But honestly,
1633
01:14:28,296 --> 01:14:32,341
I would say just just just from
an interesting perspective, it's
1634
01:14:32,341 --> 01:14:35,970
just looking at the raw data,
like just going
1635
01:14:33,969 --> 01:14:37,514
and checking out stories.
I will say the column or
1636
01:14:37,514 --> 01:14:41,726
whatever other website
out there, just,
1637
01:14:39,224 --> 01:14:45,146
just looking at again,
suburbs, location prices ran
1638
01:14:45,229 --> 01:14:47,565
on stating the fundamentals,
understanding like, okay, cool.
1639
01:14:47,565 --> 01:14:50,485
The, you know,
the return on investment
1640
01:14:48,900 --> 01:14:52,904
for this particular
suburb is around this
1641
01:14:50,485 --> 01:14:55,282
and that difference
for units and difference
1642
01:14:52,904 --> 01:14:57,826
for housings and whatnot.
And then a little
1643
01:14:55,282 --> 01:14:59,243
to get you a bit more of,
just find where all of these
1644
01:14:59,243 --> 01:15:03,247
sources of information. In fact,
I had a conversation with a close
1645
01:15:01,497 --> 01:15:06,042
friend of mine
maybe three months ago where
1646
01:15:04,248 --> 01:15:07,502
they were looking to buy
a property maybe in the not too
1647
01:15:07,502 --> 01:15:10,046
distant future, is it?
Can you come around
1648
01:15:08,795 --> 01:15:10,506
and have a conversation?
I mean, just maybe
1649
01:15:10,506 --> 01:15:13,884
just say with me,
what are the things you like
1650
01:15:12,423 --> 01:15:15,886
where you would look?
I mean, I spend
1651
01:15:13,884 --> 01:15:16,929
like 2 hours being like,
look at this.
1652
01:15:16,929 --> 01:15:19,597
Looking at this. Yes.
There is so many things
1653
01:15:19,597 --> 01:15:21,265
you can look into from
a property perspective.
1654
01:15:21,265 --> 01:15:24,770
And so I just say.
And is. It just. Is there to look
1655
01:15:24,770 --> 01:15:27,980
is there a point as well
where you just have to go?
1656
01:15:28,064 --> 01:15:32,444
I can't look
into all of these things. I just
1657
01:15:30,192 --> 01:15:35,113
need to buy something. Know, you
kind of you can discern
1658
01:15:35,113 --> 01:15:36,573
what's the most
critical value tonight
1659
01:15:36,573 --> 01:15:40,284
at which stage of the game.
You know, if you're just looking
1660
01:15:38,951 --> 01:15:42,954
right and you go for the most
important things, catchment,
1661
01:15:42,954 --> 01:15:45,248
distance of work,
these sort of things
1662
01:15:45,248 --> 01:15:47,292
value, assets
gentefied to the suburb.
1663
01:15:47,292 --> 01:15:50,170
What do you want? Okay, cool.
That takes the boxes when you go
1664
01:15:49,252 --> 01:15:52,421
to the next set
or you're looking into
1665
01:15:50,170 --> 01:15:53,631
individual property. Cool.
Is it on the street?
1666
01:15:53,631 --> 01:15:56,510
You're looking at this
particular property. Okay.
1667
01:15:54,925 --> 01:15:58,177
Is the least expensive.
The most expensive
1668
01:15:56,510 --> 01:15:59,136
has had renovations.
The renovations.
1669
01:15:59,136 --> 01:16:01,222
What are the like of
for Queensland?
1670
01:16:01,222 --> 01:16:03,100
What's the statistics
from crime perspective?
1671
01:16:03,100 --> 01:16:04,725
You can look for crimes
on the street.
1672
01:16:04,725 --> 01:16:06,770
Has it been renovated?
Can you do a subdivision?
1673
01:16:06,770 --> 01:16:10,023
Does it need a subdivision?
Is it being resigned?
1674
01:16:10,023 --> 01:16:11,692
Is there a bushfire? Is it
flooding?
1675
01:16:11,692 --> 01:16:14,110
Is all this sort of stuff cool?
Then you go to the house. This is
1676
01:16:14,110 --> 01:16:19,323
this is actually exactly why
I should have included it
1677
01:16:15,820 --> 01:16:20,658
in my negatives. A lot of that
there's a law.
1678
01:16:20,658 --> 01:16:24,621
You can't diversify.
You have to pick one place.
1679
01:16:24,621 --> 01:16:27,832
Basically, if you if you buy
what the average person
1680
01:16:26,622 --> 01:16:29,292
is going to do,
they're going to buy one home.
1681
01:16:29,292 --> 01:16:33,462
So you have to pick one. Yep.
And you just listed off
1682
01:16:33,462 --> 01:16:36,048
everything
that could go wrong or.
1683
01:16:36,048 --> 01:16:37,426
Be if more and more.
And then yeah,
1684
01:16:37,426 --> 01:16:40,304
when you're looking
to individuals Masa Tong
1685
01:16:40,304 --> 01:16:43,599
and it's like if your office
yes on bond you don't know
1686
01:16:41,430 --> 01:16:46,475
these things did
easement location of the pipes
1687
01:16:44,890 --> 01:16:48,185
location of the gas pipe location
to your water metres.
1688
01:16:48,185 --> 01:16:51,023
Yeah well sort of things
that we're talking
1689
01:16:49,186 --> 01:16:52,106
about property next door
about building
1690
01:16:51,023 --> 01:16:54,318
something like that. Again it's
looking into the council.
1691
01:16:54,318 --> 01:16:56,235
Can you build such a thing.
Can all of this stuff,
1692
01:16:56,235 --> 01:16:58,779
all of that factors into it.
And yeah, I feel, I mean first
1693
01:16:58,779 --> 01:17:01,824
I'm going to do something you
she didn't realise about this.
1694
01:17:01,824 --> 01:17:03,909
Well yeah,
there's a lot of things
1695
01:17:02,743 --> 01:17:05,412
that can go wrong.
Yeah, definitely. Definitely.
1696
01:17:05,412 --> 01:17:09,166
All right. We'll end it
there for today. Thank you
1697
01:17:07,663 --> 01:17:12,293
everyone, for joining in.
This is a Value
1698
01:17:09,166 --> 01:17:14,212
for Value podcast,
which essentially means
1699
01:17:12,336 --> 01:17:16,840
that we provide
all this value here
1700
01:17:14,212 --> 01:17:18,634
for you free of charge.
You can get this whenever,
1701
01:17:16,840 --> 01:17:20,385
whenever you want,
however you want, through
1702
01:17:18,634 --> 01:17:23,262
whatever medium. That's very much
our model here. We just ask that
1703
01:17:23,262 --> 01:17:24,930
you return that value
in some form
1704
01:17:24,930 --> 01:17:28,685
into this in time, talent
or treasure time. Share
1705
01:17:27,141 --> 01:17:31,020
this show with someone
who you think would be worthy of
1706
01:17:31,020 --> 01:17:35,567
of tuning into who might find
some interest it of buying
1707
01:17:32,855 --> 01:17:37,653
a home in Australia.
Who's wondering. You know.
1708
01:17:37,653 --> 01:17:39,904
How do I do it? What's some good
resources?
1709
01:17:39,904 --> 01:17:42,448
Well, some things to think about.
One just listed a whole ton,
1710
01:17:42,448 --> 01:17:45,618
so you could also reach out to us
and one in particular,
1711
01:17:45,618 --> 01:17:48,372
and he'll be able to help you out
with some of that talent.
1712
01:17:48,372 --> 01:17:52,292
If you are,
I'll do a little plug for
1713
01:17:50,207 --> 01:17:54,043
some of the other shows
that I'm doing at the moment.
1714
01:17:54,043 --> 01:17:59,675
So with the book reviews,
I'm kind of looking for a back up
1715
01:17:59,841 --> 01:18:02,176
voice actor
to read out some quotes
1716
01:18:02,176 --> 01:18:05,889
because inevitably at some stage
coal is going to have
1717
01:18:04,095 --> 01:18:06,806
like a raspy voice
or is going to be sick
1718
01:18:06,806 --> 01:18:08,934
or it's going to go away
somewhere. And it would be nice
1719
01:18:08,934 --> 01:18:10,476
to have like a backup
person to call upon.
1720
01:18:10,476 --> 01:18:13,479
So if you are interested
in reading out some quotes
1721
01:18:13,729 --> 01:18:17,359
produced, all you need
is a microphone and yeah,
1722
01:18:17,442 --> 01:18:21,404
10 minutes of time roughly.
And if you're interested
1723
01:18:18,777 --> 01:18:23,198
in doing it, just let me know.
I would love to have
1724
01:18:23,198 --> 01:18:27,327
a little backup on on call
if if that ever happens to call.
1725
01:18:27,327 --> 01:18:30,663
And then I treasure
which is where you
1726
01:18:30,788 --> 01:18:33,041
send in a boosta
Gram, we've already about
1727
01:18:33,041 --> 01:18:34,417
how you can do this way
you can do this.
1728
01:18:34,417 --> 01:18:38,337
So just reiterating
the point that whatever
1729
01:18:38,337 --> 01:18:41,091
value you get from the show,
we just offset your return.
1730
01:18:41,091 --> 01:18:44,636
Whatever you think worth
so the value can change.
1731
01:18:44,636 --> 01:18:48,515
There's probably
not going to be a boosta
1732
01:18:45,261 --> 01:18:50,559
gram crisis anytime soon
because you can
1733
01:18:48,515 --> 01:18:52,269
just send in more or send
unless it's a it's totally fine.
1734
01:18:52,269 --> 01:18:57,149
So we do have a big call out
at the end of the month
1735
01:18:54,938 --> 01:19:00,735
for everyone who's done this.
If you go on to that same link
1736
01:18:58,899 --> 01:19:02,319
I talked before Miyamoto's
podcast dot com such support
1737
01:19:02,319 --> 01:19:04,905
we can show how you can
get a T-shirt from there.
1738
01:19:04,905 --> 01:19:08,868
If you send in
hundreds out a hundred
1739
01:19:06,198 --> 01:19:09,994
thousand sets or more,
which is the equivalent of
1740
01:19:09,994 --> 01:19:15,583
about 65 Australian
at this very moment. And also
1741
01:19:14,291 --> 01:19:16,126
a little leaderboard
down the bottom.
1742
01:19:16,126 --> 01:19:18,545
So where you can see
your place in the list
1743
01:19:18,545 --> 01:19:21,338
and I want to do some more things
with that in the future.
1744
01:19:21,338 --> 01:19:26,136
And then if you're completely new
to all of this and you like
1745
01:19:24,384 --> 01:19:27,386
what's a Satoshi,
how do I send the boost to Gram?
1746
01:19:27,386 --> 01:19:30,347
What do I do This
I've got a little
1747
01:19:28,637 --> 01:19:34,101
onboarding experience
for you on that same page
1748
01:19:30,347 --> 01:19:37,396
there as well, where
I've got a wallet,
1749
01:19:34,185 --> 01:19:39,524
a little click, a link
that you can click
1750
01:19:37,396 --> 01:19:41,193
or a QR code either
either work perfectly
1751
01:19:41,193 --> 01:19:44,695
and this will take you
to a location where you can get
1752
01:19:42,652 --> 01:19:47,615
your first set.
Once again, it's all
1753
01:19:44,695 --> 01:19:48,324
getting so much easier.
This is brilliant
1754
01:19:48,324 --> 01:19:50,534
because I was playing
around with Muun
1755
01:19:50,534 --> 01:19:53,537
the other day and I was.
Going back from Clean.
1756
01:19:53,537 --> 01:19:57,042
It was so easy, man.
So essentially what I was doing
1757
01:19:57,042 --> 01:20:02,631
was just converting from
Bitcoin on the lightning
1758
01:19:59,211 --> 01:20:05,007
back to on chain.
And yeah, it's, it,
1759
01:20:05,007 --> 01:20:08,511
it was really, really nice
experience compared to.
1760
01:20:08,595 --> 01:20:10,346
What you've had to deal with.
But yeah, like,
1761
01:20:10,346 --> 01:20:12,224
well it goes about like
two and a half years ago
1762
01:20:12,224 --> 01:20:14,309
now when we were first
playing around with this stuff
1763
01:20:14,309 --> 01:20:18,229
and it was, it was hard.
It was really hard. So yeah,
1764
01:20:16,685 --> 01:20:20,815
things are getting easier.
So not to worry if this is
1765
01:20:18,229 --> 01:20:22,650
all still confusing
to you, that's cool.
1766
01:20:20,815 --> 01:20:23,902
Well, we'll wait.
There's also the paper out
1767
01:20:23,902 --> 01:20:27,029
and the scientists, scientists.
On the house.
1768
01:20:27,029 --> 01:20:29,824
So it's plenty of options.
And just some data I'd like.
1769
01:20:29,824 --> 01:20:35,663
To. Show is show, is it?
It can be. Yeah.
1770
01:20:32,368 --> 01:20:36,288
Dates in the mail place.
Aren't going to leave they
1771
01:20:36,288 --> 01:20:38,875
thank you very much for tuning in
especially if you're
1772
01:20:37,122 --> 01:20:40,961
tuning in. Live. In Australian
Eastern Standard Time.
1773
01:20:40,961 --> 01:20:43,587
You can always join us on YouTube
as mentioned earlier as well.
1774
01:20:43,587 --> 01:20:46,006
We are going to be going
live as well on the audios
1775
01:20:46,006 --> 01:20:48,260
in the not too distant future.
Stick around, of course,
1776
01:20:48,260 --> 01:20:49,426
for all the good stuff
is going to be
1777
01:20:49,426 --> 01:20:52,264
coming out of the models here,
but for now I'm going to
1778
01:20:50,804 --> 01:20:54,975
leave it there any more.
Let's take it very much,
1779
01:20:52,264 --> 01:20:54,975
Juan out, Kyrin out.
