Your Property Success Mentor Call June 20-06-2017

Hey guys, we'll make a start. But just before we do, I just need to do our mandatory disclaimer. It's important for everyone to understand that you need to take care in applying what you'll hear on these calls to your own personal circumstances. Everyone's situation is different and all the information in today's call is based on our personal experiences and opinions and is not intended to be specific to your circumstances. We're not real estate agents, financial planners, lawyers or accountants and are not liable for any loss, damage or misunderstanding caused by reliance on any of the information provided or inferred. And the other thing is, we routinely record these calls and reserve the right to share the content down the track. So by participating in this call, you are acknowledging this, and if for some reason you prefer not to be included on a recording, just contact our office on 1300-963-646 within 24 hours. It's 1-300-963-646 and we can edit you out. And with all that out of the way, live from our hospital bed, may I introduce the one, the only, Jane Slacksmith.

Thank you, John, and hello and welcome to the June mentor core for 2017. It's so nice to be here tonight, believe me. And it's so nice to have such a fresh new group of ultimate guided renovation students join us in the youe Property Success Club. And boy, is that Facebook group buzzing with energy at the moment. So it is a big welcome to all of those of you who may be here for the first time. Please don't be shy, speak up, say hello, ask a question, and, you know, give us an idea of what you're up to. And as always, hello to all of you inside the youe Property Success Club. Please introduce yourself too and make sure that if you have a question, you let us know because tonight is all about you and answering the questions that are burning for you. So take full advantage of it and let's discuss what's on your mind. So, as I said, you know, these calls are for my mentoring students. The students the Ultimate Guide to Renovation the youe Property Success Mentor subscribers and of course, Investors Choice Mortgage diamond clients, as well as the members of your Property Success Club. And these calls generally take place on the last Thursday of every month. And of course, you will receive email reminders each month when the calls are approaching so you don't miss out. And best of all, you have access to the recording usually within about 48 hours. And all of the past calls, I think what John, three years worth are up in the resources section. So like many, four years worth. So I know a lot of people listen to these calls routinely before they feel that they have the courage to ask a question. But don't let that be you because it could take you months to get through the calls. So if you have a question, we are here for you. And if you can't make the call, please leave us a message. Now all you have to do is ring 1300-76-3319 and we will grab those questions and we will talk to you or record the call so you can answer the call so you can hear the answer. And if you have any, I guess, questions that you'd like to send through, you can always send them through to questionsourpropertysuccess.com as well. But before we get into the questions, I should introduce the person who's actually in the studio and not in my sick room. And that is the co creator of the ultimate guide to renovation and your property success.

John.

Hey, John, you're there.

Yes. Come on, tell us all about your. Your environment there. Where are you and what are you doing?

My epic. Well, I'm at home and I'm. I've been relegated the downstairs reading room and they've pumped up a bed for me because I can't get up the stairs. I'm still on crutches. So I had it. You know, I'd like to think that it could have been something dramatic that created this little operation, but it still just wear and tear apparently.

Skydiving accident perhaps.

Nothing exciting like that. So just a look at keyhole surgery. So just a little keyhole surgery, day surgery on my hip to fix a little tear and apparently I'll be walking around in no time. So I've stopped the medication for the last eight hours so that I have clear brain for tonight. So if the pain drops in around in about the hour mark, you'll be able to hear that in my voice.

Just lucky we got the disclaimer in when we did.

So well thank you very much for everyone's kind thoughts and I'm appreciative of that. But yep, I'm well on the way to recovery. It's been 24 hours and. But we've had a huge month this month. The ultimate guide to renovation. It's like every waking hour, isn't it for the month beforehand that we're really dedicated to, I guess talking to people and this, this year, no different. I don't know. John, was it how many thousands of people watched our videos oh, now you're pushing me.

It was, it was around, it was around 2 to 3,000 a day. We were getting throughout the, the lead up to the launch, people a day. And yeah, it's a huge amount of people. Lots and lots of chats and phone calls and all sorts of stuff. So yeah, massive, massive, massive amount of action.

Yeah. And I know you and I and Diana and others were on the phone and on live chat and answering calls seemed like around the clock. So I think I turned live chat off midnight one night. Oh my gosh. After you get to bed. But look, it's been pretty exciting and I've also had some fabulous feedback and reviews for our podcast. So thank you guys. We've got another great bumper podcast coming out tomorrow which is Andrew Morello from Yellow Brick Road.

Yeah, that is a cracking podcast. I have to say. He's awesome.

He is just a really nice guy. He, he, I don't know, Free's age. What is he, 31 or something? He completely wears me out. So, you know, nice guy. And I had an opportunity that gave me a bit of a taster actually to the property women group invited me to speak at one of their events here in Melbourne. And Jo flew down and we had 25, 30 lovely ladies, one gentleman and had a really good night there. I shared my, my mother of the year award where I managed to tell you about this, John.

Yeah.

I think you confess that you fed your one and only pet food.

I think I talked about that last time, but yes. So my poor young son had dog food because they had Scooby snacks in the next to the tiny teddies in the kids biscuit line. So that was pretty impressive. So yeah, so it had a really good time but I've got to say it really gave me a taste for people keep saying, you know, when are we going to see you? We'd love to catch up. So we put the Renault Fest 29th of July, put it in your diaries. It's so exciting. We've got so many people flying in. We've try to make it very affordable. So. And great discounts for obviously our, our alumni and club members because we really want you guys there and yeah, I'm.

Just putting it in chat there, Jane. There you go. So that's the event right listing there.

Perfect.

So we can get in the morning and we can get in and you can fly out in the evening. But yeah, we're so excited about this. Is this going to be awesome? And it's something that, you know, I thought we could you know, share our message and really get the Trident strategy and everything out to as many people as possible and really affect long term intergenerational wealth created by low risk property investing. But turns out people want to see our faces too, John. So I don't know, every time I turn around there's someone new joining the panel that we're going to talk about style guides and we've got.

If you'd like to be involved too, if you'd like to be involved even just to help out or you've got a case study that you think would be great to share with the rest of the community, please give us a yell. Either, you know, you can contact support at your property success or contact me@john YourPropertySuccess.com and yeah, we'd love to for you to be part of it. Yeah, be great.

So if you're coming and you've had a renovation on your belt. Actually I spoke to a gentleman today and he joined the Ultimate Guide to renovation in 2014 and he said at week seven he bought a property and use the renovation strategy. So 12 week course it was week seven. You could actually put, you know, module two and module three is where the Ultimate Guide of Renovation students are right now. So you know that module three comes out midnight tonight. So that suburb due diligence after you've done the suburb selection. I know we've got a lot of people dotting away at the moment with their dot maps and those people in your property six club module one, that dot map exercise, you know, it really gives you some clarity of what's happening in some areas. So really exciting. We can't wait to see you guys. At the moment we're doing some heavy negotiations and putting together a pretty cool goodies bag for you as well. So yeah, what have you been up.

To for the month?

Oh this. This is it. This has been everything, hasn't it? The lead up to the Ultimate Guide. I was just going to make the comment there that I think the this this year's intake for the Ultimate Guide have got some advantages over previous years in having their dot maps ready so they don't have to go out and buy them and so on. So hopefully that'll translate to lots of dot maps appearing in the Facebook group over the next days and weeks.

An old Ian over at Mapworks in Essendon in Melbourne. He and his wife Ann have been busy sending out tubes but unfortunately some people haven't quite got their maps yet because of Australia Post playing their games since they privatized whatever. But yep, they're on the way and we can't wait to see some of your dots appearing in the, in the club.

Yeah, great. Great. No, but not, not nothing really from me, Jane. I think that's it. I'm excited about tomorrow's podcast with, with Andrew Morello. I think that's a really great even just, lots of just life lessons in there and great stories about people starting with nothing and, and you know, carving out a life for himself. And it just reinforced for me that anyone can do that. It's a, something that's you're very lucky to be living in the country that you're living in or we are very lucky to be living in the country that we're living in and the opportunity is there. It's just a matter of reaching out and taking it.

Absolutely. And you know, this reminds me, I had a chat to. Well, you may have seen some of the videos that we released over the last couple of weeks and those of you who are familiar with Russell Renovator in the club, you know, Russell think his daughter bought him the course from London because he kept saying for years he needed to do something as property and everyone saw his initial case study. But he rang up during the week going I'm ready to go again. And you're not going to believe this. And I think for something like in 10 days he made $60,000 in that first renovation. Excited about, he rang up to say that the property is worth over $300,000 more now since he bought it. So just an absolute win win and he's ready to, to go again and make it all happen. So I think it's just lovely following some of these stories through the club and just watching what people are doing. And I think Andrew's podcast is really interesting because he talks about, you know, his father and his parents coming with nothing and building up a life and you know, the long hard journey to do that. And I know, you know, just within a couple of years getting these kind of tactics right and solidifying wealth through these low risk property investment, you know, can really kind of jump start and allow people to, to get ahead. So yep, watch for that podcast. I think we've, we're getting up to around 800 to a thousand people downloading the podcast a day, which is extraordinary. So we really appreciate your support and yeah, pass it on and share it around. So. But yep, watch for that tomorrow.

Yeah.

And without that, that John, I think we might continue with the preamble. Don't want my, you know, my Paint kicking here. So we might get onto the questions, if that's okay with you.

Yeah, no problem. All right, let's do some housekeeping then. Oh, that was a slide I meant to go to a little while ago, Jane. Come back to it.

So if you do have a question, go ahead. All you need to do is raise your hand. Just press that little hand icon in the sidebar menu. It's a little hard to see, but there it is. And click the hand button. That's going to let John know in the studio that you have a question. And when it's your turn, he's going to unmute you. If you have a mic or you have a written question, write it in the question box and we will try to get to that if we have time available. But I do give the priority to the spoken questions, just so. I think it's nice that we kind of get to hear a bit about what you're doing and get to answer your questions in real time and have a bit of a chat. And I think it's a bit more engaging for everyone as well. But as I said before, do not be shy because there is no such thing as a silly question. We've all been at the stage start and sometimes we forget some of the things as well from the start. So it's really important that you have the confidence and know that, you know, this is a really supportive community where you can ask the questions that you may not be able to ask anywhere else. But just as the your property success club Facebook page is not a place for support, nor is this call, because John and I are not the technical support gurus that we sometimes allude to. That we are. Exactly. Sometimes we try to fail dismally. We know where our skills are. So, look, if you do have a technical issue, don't put it in the Facebook page. We can't answer it here. On the call, please email supportourproperty success.com you will get that dealt with as quickly as possible by going through that email and we'll get the right person on to fixing it.

So.

So without anything else to say, tell me, John, do we have a question?

Yeah, well, I can't see any hands up just yet, but I do have a question from Kim. He says, do you have a template for how to work out a property acquisition plan that is working out when you can buy your first property, then the second property, etc.

Who was that?

That's Kim.

Kim.

Yeah.

There isn't really a template for that and I know that there's kind of a lot of people who talk about, you know, we'll do your, your property plan for you. The thing is, because it is so individualized, it is difficult to, to kind of work out how it all fits together. And this is the steps that I would take is first and foremost I'd find out, you know, find out your current situation. So what you should have done already is be kind of clear on your goals and what you want to achieve by when. And then go to a broker or a bank and find out, preferably a broker, not a bank, because if you go to a bank, each bank has individualised servicing capacity. So you might go to bank of Melbourne and they're going to say you can borrow $600,000, where Adelaide bank might say you can buy 800, borrow $800,000. So go to a broker who's actually going to give you an idea of what the capacity or the ranges of the borrowing capacities that you have and then work out how much cash you've got available. Because most people are either limited by the cash they have that they can contribute their borrowing capacity. So you might be able to, based on your income, borrow $800,000, but based on the fact that you've got $40,000 in the bank or $40,000 in equity in the property, means that you might be limited to a 250, $300,000 property once you've paid stamp duty, etcetera and 10% deposit. So work out first and foremost what you've got to play with and then there's a number of different tools that you can use. So tools in the past that I have used and I might just find this link and put it into chat that I'll share. But I've used this Ultimate. Ultimate. I think I could spell ultimate by now, wouldn't it? Ultimate property investing calculator. And basically this. I found this a really great little calculator to use and what it does is it. I'm just going to put this in chat, tell me if everyone can see. I'm going to send this to you, John, so you can copy and put it to everyone else. But this calculator is really cool and the guy who's developed it, Patrick, I've worked with him and although it's pretty ugly website, to be honest and kind of confusing, the calculator itself is $129. And I know people are paying 4, 5, 6, $7,000 for a property investment plan. So I would use this calculator. Once you purchase the calculator, so you buy it for $129. If anyone can see that. Now put your email address in. If you put the promotion code Jane in, you're going to get $50 back. So it's going to cost you about $79. Now when I work with mentors, when I'm mentoring students and I spend a day doing kind of property investment plans for them, I use this as a basis for doing the, you know what next kind of scenarios. So I think it's fabulous. As I said, the website itself kind of confusing. There's all these free bonuses there that are valued at$300,700 and it looks like that's what you have to pay. But if you look to the right, you'll see that it's only $129 and you get all the updates too.

Now I had Patrick Ultimate Investment Property. Can you see the screen at the moment? Jane just got my cursor over it.

So top left. If you can head over there to purchase to the right you'll see purchase to the right where it says buy now it's $129.

There you go.

That's actually the purchase price. And you put Jane in the promotion code. After you've purchased it, he'll refund you $50. So you purchase 29 and get 50 bucks. Great calculator. So I've had Patrick actually introduce into that calculator renovations as well. So if you actually go through and you say in this year I want to do a renovation, you can and then you know, I've also included. So what you can do is you can put in, you know, in year one I'm going to buy this property and it's going to have this growth and you can go all the way through and do you know, depreciation schedules and everything or you can put your current portfolio in there as well. But it actually models what you're trying to achieve. And the important thing is you do start with your goals. So if you got that clarity around, I would like a $50,000 passive income, you know, in 15 years time. I currently have 70,000 in my self managed super fund. I have a homework this with a loan like this you go through and you put in you know what state you're going to buy in and we'll calculate stamp duty for you and what growth you're expecting, what interest rates you're expected to get as well. It will calculate it. So Kim, there isn't one template. You can spend thousands on a property investment advisor and often what they're trying to do is sell you the development they have or development that are going to get a kickback on or their buyer's agency services or there's often something at the end as well. And I'd suggest that working through the process that we suggest and you know, doing the goals, working out what you can afford, understanding your strategy and getting a bit of, you know, jumping on the call.

And then jumping on the call like if you do your goals and then, you know you've got a couple of strategy options in mind, that's what then these calls where these calls come in. Because you can jump on and bounce that off us and bounce it off the other people in the community.

Exactly. And for a really small investment you can start modeling your own kind of plan and put a property in and take it out and have a look what happens when you put in a high growth or a lower growth or a better yield. So this is a really great start. There's also summersoft has a great product as well and summersoft products, it has a software called Property Investment.

Well, I was just going to pull up your calculator just because some of the, some of the new ultimate guide people may not have seen calculators yet. Doesn't seem to want to load for me just forward slash calcs, isn't it? Forward slash.

I see that portfolio calculator just there.

Yep, there is on the screen. Ah, missed it.

Yep. So that, so this here, this is the one that backends into Residex. So if you go back to the. So there's two calculators here, that portfolio calculator, this allows you to put in, you know, I would like to have a $75,000 passive income in 10 years time. This is the growth and everything I expect. And if you hit calculate, it will actually calculate how many. What the value of your portfolio needs to be now so you can see there, you can, you can change those variables a bit. And if you can see where we've got calculated on the screen, it says you need five properties to do this. And we go down a little bit further, it would say, you know, your passive income goal of is that 80,000 800,000.

Yeah, I think I've put in a little bit looking a bit greedy there.

And I think you got a seven and a half million dollar property. Is that 700?

It's sort of keep on getting extra zeros for some reason.

That's right, 750,000 keeps on adding an.

Extra zero for me.

Okay, so you might want to make that maybe 450,000 or 500,000.

Yeah. Let's have another go.

I think you need John, to make the estimated property price. Yeah. Not, not 5,000.

Yeah.

Okay, perfect.

No, for some reason I'm just going to reload it. It's playing up for some reason. All right, I'm going to put my passive income as 50,000. Estimated property price. What about if we put 650,000? Okay, what would you put?

That's good. And 15 years.

Maybe 15 years.

Yep.

Yep.

5%.

Yep. So it says we're going to need two properties. So basically that 50,000, if I can read this, is $72,000 in 15 years time equivalent, based on inflation, you're going to need around about 1.4 million in the bank. And we fast forward down the bottom, it says your action plan is how many properties do you need now? Portfolio worth.

Yeah, portfolio worth 949,000, which is two properties.

Yeah.

So that gives you a little example of how you can work through what your portfolio needs to be be to what you want to achieve. And I've also just put into chat, John, that you might want to share is that summersoft peer property investment analysis software as well, which is pretty cool. And it's kind of the precursor, I think probably the one of the first from Jan Summers and her husband, but one of the kind of first tools that many people used. But for the modeling, as I suggested, I use that ultimate property property investing calculator, which I find really cool. So I hope that helps, Kim. It's kind of, you know, putting things together that are going to allow you to create your own plan, but I don't think you need to spend thousands on it. I think once you take ownership of what you want to achieve and you understand the goals and what you need to do to get there, by just putting in different properties and modeling it and just seeing how it works out, it'll give you a very clear indication of how you can build the portfolio that you need.

Yeah. And what I like about your scenario of the two properties, a million dollars in the bank in 15 years. It is very, very simple. You don't have to go to too much modeling to do that. If you're using the Trident strategy and just doing the exact example that we just did with the calculator, that would be pretty easy. Low input investing, you just do the one renovation. So there's not a whole lot of portfolio required in that particular scenario.

No, not at all. Easy modeling. I hope that helps, Kim.

Now I'll go to Glenn Because Jennifer pipped him in the post. But she did say she's writing a question but now she has to put her kids to bed. So we'll come back to Jennifer in a moment. But Glenn says, I found last session very interesting. The lady with her difficulties with the rotted stumps was a reality check on how tricky it is to get the real facts when assessing the property. And also found John's tips and practical aspects how to fix things. Very interesting.

Our fix it guy, John, that was the property in Daylesford. And I think the interesting thing there was it gave us a real concept also of the difference in prices most in capital cities, you know, you'd expect a pest and building inspection, $500 to $750. And your tips, John, about it may be engaging someone who can walk around with them and not have a written. Written pest and building inspection might be even cheaper. But I think she was saying it cost her like $1,800 in the regional area to get it and it still didn't pull up some of those stump issues. So now do we have a question there or is that.

No, it was. I didn't realize there was no question mark at the end of it until. But thanks for the anyway. All right, Jennifer, let's read yours and hopefully you're back from putting the kids to bed. Are there definitions on how the data is determined in the suburb selector software, eg, the numbers for transport, shopping, spread of values, etc. So are there definitions for how the data is determined in the suburb selector software? I assume that means, you know, definitions or explanations for what number of transport and shopping and that demographic value, Jane.

Yeah, so I think what she's referring to is in step four. So I don't know if you want me to have a.

Do you want to hand over.

Yeah, let's do that.

Yep, it's coming across to you now. Oh, great. Jennifer's still here too. She's just messaged me. That's good.

Oh, good. Hi, Jennifer. I hope someone's putting my kids to bed. Okay, so if you can see this, I'm just gonna. Jennifer, any particular one of these capital cities that I can look at for you?

No, nothing coming. Nothing coming through as yet.

Okay, let's put in 650,000. Now this below the average size.

Any really Sydney?

Any really Sydney? Well, I might have to put the price up a little bit. 900,000. So if I went down to 90% here, this basically is going to get me, you know, down to $152,000 properties. So this is below the median. So you know, if you've got a purchase price up to $900,000, you'd be happy to take, you know, $750,000 property that was in the right area. So you might just put down here, you know, down to 50%. So this covers from 450,000 to 900,000. Now you might think you're a pretty good negotiator as well. So you could go up to 990 or you can go up to 1 million 80. So you could go 20% above or below. And then you might say, I want to be within 25Ks the CBD. So what happens here? And the important thing is not to click on these steps. I think some people have been clicking on these steps rather than the. And the next. So what we've got here is we have a look at some of these areas. So we've got Canley Vale here. Let's see, just pull Canley vale through at 850. We've got Fairfield Heights, 795 Granville. My gosh, look at this. I remember doing a hot spotting workshop back in 2013 and doing a whole analysis on Granville and the property price is like 400,000 and Guildford. So let's just take those through. So I'm going to take those through to the next step. So what I see here is I'm getting some information. So this is the kilometres from the cbd. This is the median price for the postcode. We've got some data for the postcode coming across here. The past data, the past growth. I've got rental yields, I've got median weekly rent and then I've got some information over here. Now this first criteria, it's kind of getting me in the ballpark, but it's really this analysis and that suburb due diligence that we get to in module three of the Ultimate Guide of Renovations, where I start putting my career criteria around. So the percentage of renters is pretty important. I usually want to have above 30%, you know, give it, give or take 10%. So, you know, I might get down to 27% if I'm feeling up for it. But over 30% is really, you know, the criteria that I would apply. I want to have more than at least 10 sales a month and I want to have the yield above what the yield would be for that capital city or that area. So the yield in Sydney around houses at the moment I think is around about 3%, 2.8% in Melbourne. So let's just say I take this one through to my next assessment. So stepping step four, I'm going to go through to next. And they've bought Canley Vale through. So what I'm looking at here is the mode of transport. Now this is relevant for capital cities when we integrate the regional areas into the suburbs. Selector software in the future, this mode of transport, not that relevant. We've also picked up some of these amenities. Now this information originally came from Ripe House and they had. And I think this is what you're asking about, Jenny. This is around the number of those amenities that is within that postcode. So we're actually looking at bus stops and trams if they're relevant, like in Melbourne or train stations. So these transport amenities are really any of those three public means. The shopping centres are major kind of shopping, like Coles. Yeah, yeah. And the schools. So as you can see, there's quite a number of schools. So this is. This is kind of like the school zone. If we went back, I'm sure if we pulled up another suburb down here, this is like 39%. We did a comparison.

The reason it's so high level is census is actually super micro in the in, there's a million different options and so on, so you can easily get lost. So we've collated it here and then when you're doing your suburb due diligence, you can dive into the other tools and actually work out what the breakdown of all of those are.

And you know, we've definitely had a and heard your call for regional areas to be included in this. But, you know, one of the things that we talk about in the demographics, for instance, is getting a feel for the median age. And you know, to some degree you see in some of these capital cities where there has been like the old Italian or the old Greek community that moved in the 50s and 60s and there's an aging population and then you start seeing the median age drop and you start seeing the percentage of families with children increase in that area as well. And we're really at the cusp of seeing some of this information at the moment. Yesterday, 28 June, the new census data for 2016 came out. I thought I'd be stuck in a hospital bed and able to read it. Unfortunately I was drugged out read any of it. But I'm really quite excited about this because the 2011 data obviously now is six years old, so getting this updated data is going to be really exciting. But this university or tertiary institution, the reason that we had this in Here and the reason I talk about it in my book, your property success with renovation, two properties, one renovation, a million dollars in the bank, is because when, once again, specifically around the capital cities, when you've got a higher percentage of university students coming through in the demographic profile, it gives you an indication of what your typical type of renter might be in the area. So, you know, in some of the areas you might actually find, we might be able to see some back here, but you might actually find, you know, some suburbs that are potentially, you know, further, further out, some quake percentage renters here, you know, some suburbs that are further out of town or regional areas may not really have the percentage of town. So here we've got 9.7% compared to 11% compared to 10%. So when you're starting getting up around, you know, Kingsford or Carlton or you know, some of the suburbs around the universities in Newcastle, for instance, you starting to get maybe 20, 25% university attendees at the time. And what that's telling you is, you know, perhaps a house, a three, four bedroom house is not going to be just for mum, dad and the kids. It actually could be your potential tenants, could be university students. So I wanted to get, I guess, enough information across here that gives us an indication of, you know, what, what is happening in that suburb and who your potential renters could be. So that's where this information comes through. The, the next level of information is, you know, we're pulling this, we've purchased all of this data from SB Research for you guys and that's, you know, the median house and unit information and the past growth information and the number of properties sold per year and the vendor discounting. So this gives you a little bit of an idea if there's an opportunity to negotiate.

Yeah. Do you want to explain that figure, Jane?

Yeah. So it gives you an opportunity to be able to work out if there's an opportunity for you to negotiate on the price. So you can see here, this minus 1.26% is basically saying that if the vendor's asking for $700,000, it's going to go for at least 1% higher than that 707. So if you put, starting to plan your offer and your offer, you know, if you saw here that discounting was always, you know, we've got discounting here 2% if it was 10% for instance, or 5%. Now, this is obviously in an area that's not moving quickly, but if you had like a 5% discount on a $500,000 property, then you may not start at the asking price of 500 or 480 or 470. You might start at 460. Knowing that on average they come up, they would drop about $25,000. So, you know, knowing that 475 is kind of where you might end up. So it gives you an indication and an opportunity of trying to stand up where you negotiate.

So it's looking at the listing price and then what it sells for and then saying. And then it'll be a positive percentage if it is selling at a discount from what it originally was listed for. And the opposite is the case if the market was running really hot. Right. So if it was in, in the minuses and there was not a lot of discounting, that would suggest that they're selling for more than they're listed for. Is that.

Absolutely. Yep, yep. So that's that example here we see Smithfield and, and remember this data that we're getting from SQM Research, this is based on three month rolling data as well. So you know, if we just had one month's data of the last month of what the median price was, that's a little bit skewed because there could be one really big or one really small price that's going to skew the data. If you're working on six months or 12 months, it's a bit long in a fast moving market. So three months is what we've selected here. That gives you like a rolling data movement of what's actually happening in real time, but with some reference to the immediate past. And then we can look at the next level here where we get to rental data. Median weekly rent, the vacancy rate, we always try to be below 3%, which is, you know, basically at 3% vacancy rate, it's generally accepted that the market's in equilibrium, which means that as many people looking to rent that are equal to those that have rental properties on the market at the moment. So it's kind of like, you know, it's an equal equation. But this is our low risk criteria. So our low risk criteria is, well, we actually want to be in an area that's going to have more demand than supply. And that's reflected in this vacancy rate. And this, you know, total dwellings gives us an indication of, you know, is there a large exposure of units in the area, you know, what's happening in that area? What's it look like? So, you know, here we can see about a quarter of the properties, units where here we can see, you know, there's hardly any Units. So if you all of a sudden in Smithfield looking to buy a unit, it's not the typical property. So it gives you a bit of an indication of what's happening here. Whereas, you know, over in Fairfield Heights there's quite a few people that are buying units and living in units. So it's not an atypical property. And over here, you know, around about a third again in Kennerley Vale. So give you a little bit of an understanding there. I think you did an explanation on percentage of stock on 12 month stock on market change in the Facebook page. This.

Yeah, a couple of days ago. Yeah. Yep. Which is just the, that's the 12 month, that's again a running total. So it's comparing the recent, most recent 12 months to the previous 12 months.

And we've also got up here the days on the market for the last quarter. So you know what, for the last three months, you know how many days on the market. And if you think about an advertising campaign, you know, if you kind of track this month to month and that's one of the things that you can do in the workbooks that we've got in the module 3 that you can download is that you can start looking at, you know, if these days on markets start getting smaller, 130 down to 120, 110 down to 70, you know, it starts, it's showing that there's a lot of demand and properties have been picked up quickly. So you know, a six week campaign with, you know, a bit of negotiation in the beginning, that's a 45, 50 day kind of period that you're looking at that would take to sell a property. So that would be like, you know, would show what we've seen in Sydney and Melbourne is you know, 45 to 50, 50 days, days on market. So we're starting to see this move out a little bit and you know, over the year it's been 97, so in the last quarter 78. So this is just kind of giving us an idea that it's speeding up. So there's been more demand in the area and we just put that in there to get some context of what's been happening in the area over the period of time. So that's what those, that data is in there, the typical property, you know, we want to know what the typical property is. Typically it's a three bedroom house in these suburbs that I've just selected and we want to know the percentage of renters. So once again, you know, we're looking at you know, 30% is my low risk criteria where I say anything over 30% and under 70% renters in an area gives me good confidence there's a demand in the area and that's backed up by that vacancy rate. And I'm also looking at this average weekly income because when we start seeing a higher weekly income in comparable kind of suburbs and postcodes, we start getting an indication of maybe gentrification or improvement. And people who usually have a higher income are willing to spend more on the improvement of their properties, which lifts the overall value of the properties in the area. And once again, this is public housing and crime. It's kind of relevant for capital cities, not so much for the regional areas. And the crime ratings are difficult to get as well because they actually come from state by state agencies. So we don't have the public housing and the crime rating as much for the regional areas. So as I said, we're pulling all that together at the moment. But Jenny, I hope that's what you're after with the explanation of what the information that you're getting through. And those of you who are using the suburbselector software, remember to use the back button. Don't use these step buttons at the top to bring things through and tick them to bring them through. So there you go. Does that answer a question, Jon?

Yeah, I think that's great. Sorry, I'm just. I saw a couple of guys there just posted in the page that they missed the link today for some reason. Might be some teething problems with the Gotowebinar with the Some of the new ultimate guide to renovation students. So I'm just putting the link in there, but that's all good. Yeah, just that thing again if, with, with stuff like that, if anything ever goes wrong, ping it through to support at your property success because as we've just seen there with a couple of the guys, it is. That's the fastest way to do it because the, the Facebook page is. We don't, we can't monitor it every minute of the day. And it's better that we don't kind of clog up all of those posts with support questions anyway because people use the search function and it just, you know, doesn't present the data you're looking for in terms of education. So let's have a look. Hands up. Yep, Deanne's got a hand up, so I'll unmute Deanne.

Hey, John and Jane, how are you going?

Very well.

I'm good, I'm good. I missed the last couple because I was still at work and then I had a meeting on.

Hopefully you got the recording.

Yes, yes, yes, it's all good. I sat in my bed and listened. So I know that the new students are at a different module but I've just got a bit of a question a little bit ahead in there.

So for those people who as you.

Know bought before they did the course probably didn't buy as well as they could have.

Yes.

And with the Perth prices going down a little bit what I wanted to ask was I know my property needs renovating. I've had that conversation but I was going to, I got a real estate agent out to have a look and I pre warned them and said look, this property needs renovating. We've started ripping the kitchen out, etc. We've started ripping up the flooring. We're just waiting for some money to come through. And she said no, no, no problem, no problem. I'm really good at visualizing. Well obviously not because she came in at 60,000 less than what I bought it for but my question is if so she valued it at 525, said whatever you do, don't borrow money to do this property up. But a median price for a typical property in Our area is 664 for four by two which is what I've got. So my question is I suppose do I knowing I have to do the kitchen and the flooring which I'll say just going to put a jar of floor through, just do the basics with that and do the painting then possibly get another real estate agent in and a stager in and then see whether it's worth doing the bathrooms. Does that make sense? Because if you look at Darlington compared to the rest of Perth there's 175 people viewing on average a property in PERTH but there's 551 in Darlington.

Right.

So it's. Yeah, so I'm not quite sure.

I'm getting a feeling that there's demand there and people are starting to show interest but it's not necessarily translating as yet to what the real estate agents are saying.

Well I think it's just a little bit. Darlington's a little bit quirky. It's very much professionals and art people up in the hills and 664 is the median as I said for a 4x2 but you know there are some there that if they're those old weather boards, you know, country looking, beautiful gardens, they'll easily get the 750, 800, 850, not a problem. Some of them go for over a million. If they're just the basic ones up near the highway, then they'll go for, I don't know, 570. So I don't have any self doubt that I'll get in the low to mid-600s. But I suppose what I don't want to do is I want to spend my money wisely on this renovation. If you think what needs doing, then that needs doing. If you think about a house, what might need doing, it needs doing and that's fine, I bought it to do it up. But what I'm wondering is, would you use that strategy of floorboard sell up here? And I can get them at a cheaper rate than I can the vinyl because I'm going straight to a person who does it secondhand so I can get that laid. And then we're going to oil it ourselves for 60 square meter, which is pretty good for Jarrah. It is over here anyway. And the kitchen, I'll just put a country IKEA kitchen in. So if I do that and paint, then would you then get the real estate agent in? Not that one, another one. And the say the stages in just to get their ideas about. Yeah, it's worth doing this or it's, you know what I mean?

Great questions and I think it's the relevance. The question is sometimes you have properties within your portfolio that don't possibly deserve to be there, but it is what it is and you've got to take the opportunity as you can to, you know, make the most of the property and the investment that you have. So I think there's, there's two kind of sides to this and that is getting a feel for what the market capacity is and what you can do here. And John, I might just get the screen off you again.

Yeah, coming across now.

Okay, so I want to show you a couple of different, whilst you've been talking, different pieces of information that I've just pulled up while we've been chatting. Hopefully you guys can see that. Yep. So just verifying the fact that you're seeing the market move downwards. So I just wanted to get an idea of what's been happening here. And you know, obviously we've talked about, you've mentioned that the market hasn't been performing so well. So my first check is, gee, if the agent's coming back with a price lower, is that real? Is that relevant? So we can see here though, the one last one, three, you know, five years, 10 years, there hasn't been the growth there. So yes, Because I don't always trust real estate agents. The other thing is, I know they're great, but you know, there's only 16. It says there's only 16 sales for the year as well. So it kind of tips my interest to go, what's really happening here. So the next thing that I did is I jumped over to RP Data Professional and I put in Darlington and houses on four bedroom blocks. So this then validates that there's only nine of those that have been sold. And I've got the period here for the last six months. So it gets us a little bit further down the field of what your property might be a bit like. So I'm seeing numbers here. Four bedroom. So this is large. We're talking two acres. Is that hectare? Sorry, kind of the common typical is.

Half an acre, 2,000 square meters.

Okay. So this is kind of what I'm seeing here. You can see this here. So you know, we're looking sevens, eights. This one looks completely different and double the price. I'd be leaving that out of my comparables, sevens, etc. So there's 1, 500 here and there's a couple of nine. So this then starts me thinking that the price that you were quoted originally seemed to be a bit low as to what, what they're talking about. And we'll just see here if there's any properties on the market. So there's 19 on the market at the moment. And I can, I might just put the land size up to 2000 square meters, make it typical maybe 1500 to 2000. And just see of these 19 on the market. So there's one within that kind of size at the moment, 4 by 2, 1500 and they're talking 560 to 590. So you can use the RP data to get a kind of impression of what this property looks like. And is it renovated compared to what you've got? So there's the nice floorboards as you mentioned, and it's a nice color scheme. So someone's not done some nice work on this. This is on the market at the moment. So if you have a look at this, I'm still at March 2017 and up here I can see there's 32 pictures, which gives me an indication that there might actually be some older pictures here so we can have a look at what the property looked like pre the renovation. So now we're back to 2014 and we've got some. Are you guys seeing this, the beautiful wall?

Oh yeah, look at that.

So we can see this is pre renovation, that pre kitchen. So they've obviously spent a bit of money on the old orange glass door. So there has been some improvement done on this. So you can kind of get the feel for, you know, what's been happening in this property and it gives you an indication of, you know, back in 2014 when it looked like that, they bought it for 485 and now they're talking about it being on the market at 560 to 590. And with RP data. The great thing is, and you can do this and the great case study. Let me just jump over to the club that we've just posted this week, Gabriel's case study. He talks about how he's used RP data to do the pricing disparity between renovated and unrenovated. It's like I rehearsed this, John, look at this great example here. But you can then go and do your own valuation report and this could be something that could really assist you, because when you've got the agents asking for a certain amount of money, being the five, what are they talking? 5, 60, They're actually estimating this to be around 540. So it's currently on the market between 560 and 590. So this 540 could be. Would be below the market because, as we saw, there's been a renovation done since the purchase. So it doesn't necessarily have that renovation value in it, because the, you know, the software doesn't know that a renovation has taken place. It's not clever enough to recognize at this stage, give it a few months to recognise the fact that there's three years between these pictures and the pictures have changed and there's been a renovation that's taken place during that period of time. So when you're doing this valuation here, it's giving you an indication, if they hadn't renovated, what the property would be worth. Which clearly would tell me that if you could pick this Property up between 560,000 and 590, there's definitely been more than $40,000 spent on the renovation that we've just seen. But I'd also then pop over to Residex, they've been very busy whilst you were talking, that this picks up a different median price. As we know, Australian property monitors, Residex, RP Data and SQM Research all pick up their medians differently. So it's around comparing like with like. So don't be too concerned that you might have, you know, a median with RP data or sorry, sqm at 525 because it's a three month rolling, whereas this is a 12 month rolling which indicates if the prices are coming down, that median would be necessarily higher. But the thing that interests me here is I'm trying to get a feel for what the typical properties are selling for. So we can see here within that 5 to 600 band there's, there's quite a few sales and 6 to 700 band there is, but then there's a lot that are over that 800 mark. So it's quite a weird looking profile that you know that jump over between the 6, 7 to 800. But I'd also be looking at what the predicted growth is and we can see it's, you know, it's keeping on par with Perth. Perth is six expected to have a bit of growth. The numbers for Sydney incidentally, around about 1% and 2% in the next five and eight years. So this is showing that kind of responsiveness that we'd expect. So what all that information tells me that I've just pulled forward is that your original, your doubts about your real estate agent, that they might be pricing it a bit low are probably valid. The fact is that it probably is worth less than what you bought it for. If you were going to do improvements, you know, you've kind of, you know, I'd be looking at the properties that are on the market and have sold recently and just look at the level of improvement and estimate how much cost that's going to take you to get. So this is obviously not, you know, you've got those floorboards, but this is more of a modern kitchen in this example compared to, you know, what you might be thinking about with the country style.

Yeah. And darling, that's the problem with Darlington is if, as you know, if you, this is what you say in the course too, make sure that you get a suburb where you can do comparisons. Right.

Yeah.

Because in Darlington it's so hard. I mean the house then is billy goat country. The backyard would be straight up. So you really have to know Darlington well to know if you're getting a good place or not. I think that's my friend's house and it sold within two days and she's gone to Kessie and. And she bought it to the son of the old owner.

Wow.

She made a killing on it. Yep, yep, yep. So that was interesting, that one you.

Should show in there.

Yeah, yeah. It could be tough when there's not those comparable sales which Is, you know, it's not much help to you or not much consolation to you, but why Jane always talks about when you're looking. When we're at the suburb selection stage, we're looking for those. The medium property in the meat of the market.

Yeah. And I mean, listen, I'm not going, oh, well, it's me. I'm going, wow, what a learning opportunity for me for my next project. Let's break even and let's move forward. Yeah, that's what I'm saying.

Are you living in this property?

I am. It's my principal place of residence.

Yeah. Because I was going to say when we saw the numbers earlier, it was only like a 9% percentage of renters, so it definitely sounded like a home to me. But I think that the really good opportunity that you have here is to take some of those cosmetic renovation. Have you actually ripped the kitchen out? Yeah. Okay. Yeah.

Okay. Not even you could save that one, Jane. Not even you. Okay. There's water damage.

There's.

Oh, it's horrible.

It's obviously a secluded area because you wouldn't really bathe with that many windows around you and onto the deck. I don't know what else.

It depends on what your preference is. No, you wouldn't.

That'd be a touch brazing and don't.

No. They were next to a national park. It's very close to the big new hospital and it's the first hill suburb proper. Hill suburb near Perth.

So what we want to do is we want to get you out of this property and not spending as much money as necessary. So I think what you've done is a good idea. You've got the real estate agent in and you've got their kind of thoughts. I wouldn't be depending on one agent. Usually I'd try to just as a learning opportunity for the future and for others is maybe get two or three in to get their opinions. You might have some new agents and you might have more experienced agents and you might have the more John. A little bit tainted. They're going to give it straight up to you. You know, don't do this.

Yep, yep.

And. But where we are at the moment is that you know what the market wants. They want the floorboards. You've got them at a good price. You're going to make that investment. It looks to me that there is some real price ranges within this zone and the numbers that you've potentially been quoted. And getting out of this with money in your pocket without losing anything means that you're Going to really have to. To be quite savvy in getting this kitchen done.

Economically.

Yep, economically I've priced it at around about 11,000.

Is that with appliances, Deanne.

With the cooker in that? Yeah, yeah, yeah. And that was services as well, you know.

Okay. So we've got all the trades and everything in. And I mean, of course I have.

To spend some dead money on it, what I call dead money. And I have to get the gutters done. Yeah. And there's no return on that. I know that, but. Yeah. And I'm not sure you know how you watch these renovation shows on tv if you're like me and the rest of the.

Yes.

I love sometimes watching the American ones where they paint the brick, but I don't know if Australia is ready for that yet.

Yeah, that's what I was gonna ask.

I was gonna say my mother painted the brick when I was like 10 inside the house, much to my father's horror. But I mean, some of those improvements just jumping over to something that I saw posted up one hour ago on the.

Did you see my comment on there? Did you paint the brick?

I mean, for seventeen hundred dollars. Painting the roof.

Yeah, it's such a big area. So it has such a huge impact, the roof, because it is such a big surface area. I'll make a comment if I could, Jane, on painting the brick. We used to. Years ago, when I was rendering 20 years ago, I used to do a lot of development sites where these guys would buy old blocks of brown brick units and they would, you know, crane a palm tree into the front yard and render the outside. They'd actually render the front and then they'd paint the brick on the sides and the back. So they'd have it all the same color, but they just render the front. Potentially put some, you know, surrounds around the windows, which are reasonably. They'll just made a foam and kind of stuck on and rendered over kind of thing. And. Yeah, so that's a, that's a way if, if it suits the area. But I think it always comes back to what Jane said earlier about checking out those other houses and seeing what the market wants. What's the norm, you know, what, what's the expectation of the buyer?

Yeah, you're gonna have to spend the money on the, on the, the kitchen to get a buyer and you are going to have to spend the dead money, unfortunately, because if they do a piston building, you know, the, the rusty gutters are going to come up.

Yeah, they're causing mold in the house. So I Have to, have to do it because what's the point of doing it if I, if it's going to go moldy before I sell it?

Yeah, yeah.

That you need to do the staging. Although we would normally say, you know, your bank, your buck, you know, the painting, the kitchen, the street appeal and staging where we spend the money. If you tight on the funds and you are living in the property and you can make use of your own furniture and staging, I would almost put, you know, that two, $3,000 that you might put into that staging into you know what you, your dead money or your kitchen or maybe some slight improvement for the bathroom. Because I think you could definitely take some of the information from the course and improve the bathroom somewhat without a large extension expenditure just to get the valuation or to get the sale. And sometimes leaving a little bit in the deal for the next person to put their own impression or their own, you know, personality into it gives them a little scope to feel that, you know, it's, it's put their mark on it.

Yeah, yeah. Have you module 9 in the ultimate Guide?

I've done every module.

Oh good. So you've seen all those, the, the tips around flat pack kitchens and using a.

And I looked it up. I think we talked about it once in a one of the calls and we don't have that in Perth.

Okay.

I looked up the particular place, the one that you used with your renovation. Right.

Yep.

We couldn't get it in Perth but if you've got the name of one, I'm sure all the Perth people and myself.

Yeah, maybe. Well, first place I would put it just for. Because they're flat pack and they're assembled in the factory. But even if you. Sometimes it's even economical to get a handyman or a carpenter and actually buy the flat pack and assemble them. If you just go with very simple colors, provided it is what's suitable to the areas we talked about before. But if you go with very simple colors like white and a dark bench top for instance, or white and white bench top, that can be a really simple way of cutting down your costs rather than a custom kitchen.

And then I was going Ikea and then I've got a kitchen man who came out said look, I can't beat their prices but I'll put it in for you for 800.

Great. Oh, that's a good, that's a reasonable price to put it in because we typically pay 12 to 1500 for the install. But yeah, but these bigger, bigger kitchens, mind you, but with pantries and so on. But how does that compare to the Bunnings1, the IKEA? In terms of price?

In terms of price, they're probably on par. Although you can get there would I put one in before and I, I actually put it in myself last time with my brother in law and we put the wood on top, which was actually quite good quality.

Yep.

But this time I was going to go their new Keystone bench. And when I rang the actual distributors of the Keystone, they can't provide it cheaper than what Bunnings do.

Right.

Wow.

Does that make. Not Bunnings, IKEA does.

Okay. You might be able to find if you ring around the stonemasons that you could get a replica stone, for instance, and do the top separately. So do your cabinets.

Yeah, I went out to them and they can't match it. It's typically the cutting which costs the money. Yeah, they said not the. Yeah. So. Yeah.

So you went to a couple of different stonemasons.

Yeah. A couple of interesting characters.

Yeah.

I do my research, as you can see. No, you've done really well. And the fact you've been through the course and you're applying this, the works to a property. Great. You know, you've got the information that you need that, that basically says don't over capitalize. You're aware of this, you're going out, you're, you know, you're doing the assessments and doing the checks and you're getting the most value that you can. I don't think you've done anything wrong. And you know, you, you're setting yourself up to maximize on the sale price. So when you do get into the next property, you can take all of this and put it straight into, into play for yourself. But I think exactly what you're doing, I would almost stay back from the staging. I think you probably need that, that money that could be used somewhere else. Maybe just to improve the bathroom.

Yeah.

The problem I have there is my oldest boy got a puppy. You know, you can see where we're going with this. Oh yeah, Yeah. I don't have a leather couch anymore. I don't have a linen couch anymore.

Yeah.

And I refuse to buy anything else until. Until said puppy and son moves out next.

Right. Lorraine just had a good suggestion. She said she'd heard of people buying furniture off Gumtree and then using it as the staging and then selling it again after the sale.

Yeah, yeah. I just bought a table and chairs for $80 and over one. I'm just in the process of painting it with paint and fusion Nickel paint and then I'll use that for the, for the dining room. Yeah.

I've had friends borrow friends and family's furniture to stage with. And just for this campaign, I would suggest that you probably move your son and your dog out during the campaign, but maybe, maybe send him off for uni holidays or something. But yeah, run the numbers. Yep.

When you get a dollar sign, it makes decisions a lot easier.

Exactly.

Another decision's made.

It's like, love you but see you later.

Go fly.

I had a friend that did not have any belief in my, you know, I would say you have to stage the property. You're selling this unit. You know, this is going to leapfrog you into the, your next property. It was a unit near Mossman and they had the first open. It was an empty unit. They had, you know, people through, but not a lot of interest. I said, just go and borrow every piece of furniture that you can from your friends. I know you've got no money. Let's find out who's got what you like and ask. Hit them up for, you know, the next couple of weekends. Moved the furniture, got a trailer from the local garage, moved the furniture in. They had the same number through and had three offers through and the property sold. So I'd like to think that it had something to do with staging, but the staging actually made the property. People who haven't got much of an imagination, they can visualize themselves in a property that's nicely staged. And if you don't have the money for it, then, you know, great idea, Lorraine. You know, get the, get it off Gumtree, even throw it in with the property as well. You could say in contract that it comes with the furniture if they'd like it.

So, yeah, which is fine because I'm going on a six month house sitting jaunt with my son afterwards around Australia, so perfect.

Not with the dog.

No, no, that's not my dog. My other son, two sons, youngest coming with me.

Yeah, there you go. So there's some real, you know, you can, you can start thinking laterally, but maybe borrowing some property, borrowing some furniture, Might have some of the furniture that she doesn't want. But, you know, she's thinking selling and you could use it for a period of time so, you know, just be creative.

Yep, yep. All right, so I'll do part of it, get them in, get some ideas and then see if I need to do the rest.

Don't depend on one agent. Get a few in and, you know, and even get down to spending the four $500 and having a full valuation done walkthrough valuation. Actually contact me and I've got a few free valuations up my sleeve with a couple of banks that I can try to swindle for you.

Good place to start.

Thanks guys. Really appreciate it, Jane. I hope you get some rest tonight.

Thank you.

Bye bye. Bye.

Okay, so there's a couple of people coming late. For some reason, not all of the new Ultimate Guide students got the link, which is very disappointing that our technology let us down there. So we'll look into why that happened tomorrow. But our apologies. I can see a bunch of a couple of people have jumped on now after we've put the link in the Facebook page. But Question from Maria. Does the suburb size does the suburb size should be taken into account when looking at the number of sales? So should the suburbs be taken into account when looking at the number of sales?

To some degree I've just handed my screen back to you, John, but to some degree, yes, Maria, there's.

When we're.

Looking at the number of sales, let's just say, you know, I put down my criteria that might say I want to have. I'm not prepared to waste my time on a suburb that has less than than 10 sales per month. Now we know that it's going to take two or three months and the property's on the market sale. So that means there might be 20 on the market that you can have a look at of those. Once you're into understanding the pockets of potential on the streets that you want to look at. Of those 20 there might only be three to five that really suit your needs. So when you're looking at a suburb that might be 20,000 suburb and 120 sales the year or a suburb that's 2,000 with 120 sales for the year, it's almost the sales for the year that's more important to me because I really want to make sure that first and foremost my first criteria is is there enough sales here to interest me? And then when I get into that kind of in module 3, the other location masterclass kind of workbook, when you kind of get down to that suburb due diligence and you're saying, okay, you know, what is the size of the suburb? It's kind of like the next layer of questions, it's like the first layer of questions might be, you know, what's the vacancy rate? And the second layer of questions question is, you know, what, what is the income of the people in the area? Like it's it's almost like getting to the next layer of information. So when I look at a smaller suburb that has a lot of sales, I want to. Then I might be asking questions like a lot of these new properties, is it a new development, is it a new area or is it the fact that it's. It might have had a realignment of, you know, suburb boundaries and all of a sudden what was a much larger suburb has become a smaller suburb. It's that kind of next layer of questions. But first and foremost, you know, if it doesn't have a certain amount of sales per month, it doesn't warrant going through to my next phase of inquiry.

I've made that mistake, I have to admit, going to a suburb and not looking that in the like probably three or four years ago. We looked at all the data and Ivanhoe in Melbourne came up at the time, same just looked like a fantastic suburb. Really great spread of values and high, you know, good came up on the dot map as well. So the capital growth had had solid capital growth and looked like it was going to have a lot more. And when we went there, Ivanhoe and Ivanhoe East. Ivanhoe east was even more the case just had very few sales. So each sale that came up the median would jump up substantially. So it was really skewing the. The capital growth, the data. We'll see. So yeah, and it was just the competition for every single property that came on was just fierce. So we worked out pretty quickly that there was no way we're going to actually be able to buy anything there. So we wasted a bit of time.

And you do get an idea of, you know, how long and there's different websites that we share, you know, that give you an idea of how long residents have stayed in an area as well.

So yeah, 12 years there in Ivanhoe.

And that's a long time. You know these people are holders. Whereas you know, you might see 7, 8, 9. It's typical. Now the back of your investment property magazine I think John is where they have that they do the length of time of tenure. Yep.

Yeah I was. Yeah, I couldn't remember that was Yip or the. The other non API one which escapes me now.

A smart investor.

Yeah.

But so there has that and also I'll show you another place Microburbs, if you'd like that. Yep. Where were we? Darlington. We're just looking at that. Laying down here in bed trying to type. It's not really good. Sorry. Darlington, Western Australia. Okay so this is just from our last example so there's some information in here and we were looking at. I'm going to just have a quick little look at the area. So you can see here there's lots of different information that comes through on the area and I know there's one in here that has length of tenure, Demographics, public housing, renters, average income, tenant rate, Lifestyle. So tranquility, convenience. That's commutability, communications. No, I know it's in here somewhere. Here we go. Community score. See this long term residents here?

Oh yeah.

So it gives an idea of the percentage of long term residents and when we actually click into this. So this is just for that Darlington area that we're looking at here but if we click in here. We'll go to a whole different page and it'll give us a comparison of all of those suburbs. This is what NBN looks like. So this is the proportion of residents who've lived in the general area, current suburb or nearby suburb for five years or more. So it kind of gives you an idea of the movability of the area as well. So you can see here that you know Darlington. There we go, Darlington. You know you can click in here and you can see, you know Helena 70% Boya 67%. So it has the different information in here about those different suburbs and you can start getting a feel for what that long term residence looks like as well.

But wish they just put in the news be easier.

Exactly. But I mean going back to the question I would spend start when I would be starting at you know what the property for instance or the information I'd always start looking at that sale data. So start with the percentage of renters. If it's not over that 30% I would move on and then I'd go down to the number of sold per year and then I'd start looking at the rental yield. There's my first three things that I would start why think putting a suburb in or out of my assessment criteria.

Great.

So I hope that answers the question.

Glenn's got a question. Is SQM data feeding suburb selector software from the recent 2016 census?

Glenn, great question. So we are getting the SQM data that's relevant for the postcode codes on the sale data. So if you go into SQM for instance research and you start pulling up any of the free property data we have that you can do it suburb by suburb. So we've bought all of this suburb information. So you know, for instance you want to have a look at asking property prices, solid sold records, etc. This is where all of this information comes from. We're actually pulling the demographic information ourselves at the moment. The demographic information that's in the suburb selector Software is the 2011 as it only came out yesterday and SQM and no one has actually put in the 2016 information as yet. But, you know, as you can see here, the sqm still got 2011 domain real estate Residex RP data, Australian property monitors. No one's been able to claim at this stage. However, we are working on it in the next two weeks to be able to pull that data in from.

We're trying to beat everyone to market.

Yeah, exactly. We're trying to be the best we can be. And so we're working pretty diligently on that. And that's one of the reasons that we haven't put the information in there for the regional areas, because we wanted to have the right information. And if we're going to put all the time and effort in, you know, seven days worth of information on demographic information that's six years old, it wasn't going to be really relevant to you guys.

And it's an incredible amount of data. It's hard for people to appreciate that you select a couple of things and it brings up the suburbs you like. But to do that, we have to put every single suburb in the whole area to do that. Yep.

Well, to give you an idea, I went through the 16,432 suburbs in Australia last Thursday night until my eyes nearly bled and just to get an idea of the amount of data. And that translated with what we were looking at to 332,000 lines of information in an Excel spreadsheet. So, you know, there's a lot of information that goes into it. The demographic information will be coming through straight from census and the, you know, the information regarding medians, past growth, et cetera, rental yields, vacancy rates, etcetera, is coming straight from SQM Research.

Yep. Lorraine's got a question. Lorraine's been in the Ultimate Guide to Renovation for what, maybe three years now, I reckon. Jane? Yep. She says, should we download the new lessons from. And I assume she's talking about in particular module 2 and 3. Are they hugely different from when we first did them?

Good question. Well, I mean, we're always updating things and the frustration for most people is that every now and then, you know, we look at a website. So, for instance, InvestSmart decide to hide where their property tab was and when we might give an example about how to use microburbs or ripe hours they change things. So we're trying to, as we go through, keep up and make most of the modules timeless. And the reason is because the methodology is timeless. Understanding your hot spots, understanding your research, understanding your suburb selection, understanding the demographics, where that information comes from, we definitely do point you to where we believe the most current information is. For instance, Lorraine, when you did the Ultimate Guide to Renovation, Residex actually had a renovators report which they've now pulled. But we're actively working with CoreLogic who's bought ResX, on creating a renovated report custom for ourselves. If you have a look at the predictions report in here, we updated the information on the predictions report video 8, wasn't it Josh?

Video 8? Yeah. So you'll see it starts off with the report which is still available, and then we've got the new one which Jane collaborated with CoreLogic2 at the end of the video, so you see both versions.

So if you go up into the resources here. So one of the frustrations, just as a heads up for people with the predictions report is about $200 and you buy the predictions report and here's our little special discount code for you. You buy the predictions report, you might get a hundred of the top houses available in New south Wales and 40% of those are over what you can afford. You know, your price Range might be 450,000. So what we did is we collaborated with CoreLogic Residex and you can actually create your own report. So you know, you can go into Metro Northern territory and you can choose houses and you can go in here and you can choose your price range, you know, between say 350 and 650 and your minimum rent yield, yield. And you might say, you know, 4.5% and you might want at least a 5% growth. And what this tells you that although you want five suburbs that meet this criteria, then there is actually one suburb that's available. So the report itself costs you 20 bucks and then $10 per suburb. So this gets you for $30, the one suburb that will allow you to do that. But if you were happy to accept maybe a 3% growth, you can see there's actually 18 or 15 suburbs available. So you're paying 150 plus 20. So $170 for 15 suburbs actually specifically suit your criteria. So I hope you guys are excited about this because we're pretty impressed that we were able to do it. And remember, we've got that coupon code for you as well. So you put the coupon and get another 10% off. So this is. So to answer your question, yes, there are some changes, but the reality is, Lorraine, you know, if you get the foundations right, not a lot changes. Some of the opportunities to collate the information improve and as they do we update that of the module 2 and 3, the suburb selector software is a whole lot further from when we did our very first blank suburb selection spreadsheet. As you might recall, that we kind of told everyone, this is where you go and get the information yourself back in the magazine. And as I said in the Facebook page this week, this is where everyone kind of started. This is where I started. And you know, you go and get them information back in the magazines and get as much information as you can about the properties. And for regional areas, you know, in some, we're only going to be including some significant major regional areas, so, you know, the newcastles, etc. But for those of you who are doing, you know, information and might be looking at some of the areas that we don't include, which might be Esperance or Launceston or Dubbo, for instance, you could go through and use the spreadsheet and collate this information yourself. All this information is in census and all this information is in the back of the magazine or in websites that we've either highlighted or told you where you can get the information from. So don't feel that just because your suburb. Oh, sorry, your area doesn't pop up in the suburb selector software. You know, we're actively building this and we've got big plans for it, don't we, John?

Sure have.

That we're working on. But you know, we want to give you guys the best of what we've got available at the time. And this is where we are at the moment.

Yeah. Now Diane's waiting patiently here. She's got a hand up. So I'll just unmute Diane's line and we'll see if we can get her on. Are you there? Yes. How are you?

Hi.

Late to join, but we've been through all the software and what we were wondering is if you're not doing buy and hold or buy and renovate and hold strategy and we're just looking at the flip.

Yep.

What are we actually going to really focus on? Is it going to be growth in the last quarter to be able to actually buy something within three months?

Great question.

So if your strategy is to flip a property and not to hold the property, then some of the criteria that we talk about. So percentage of renters so that, you know, you've always got a rental market on demand. Not that interesting to you because that's not where target market is. And if we think about a Marketplace, you know, 70% of all properties, you know that are transacted are homes. So as a, as a flipper, you want to. Your low risk strategy is not to maximize the percentage of renters. Your low risk strategies is to be in the right area where the owner occupiers want to be. Now you know, to determine things about where the owner occupiers want to be. You can go to the Ripe house for instance that we've talked to before.

Do you want to just show it in the suburb selector software first, Jane? Because you can also do it in there with the things like couples with children and that kind of thing is good. And the income levels.

So I'm just looking at Adelaide here. I'm going to pull out some random suburbs. Camden Park, I grew up in Camden. This Dudley Park. Got a friend whose last name is Dudley. There you go. No thinking behind this. Okay, so if we just go over here, we've got 38%, 219 4. So we'll just take that through 35%, 210 4.

So percentage of renders, you're almost looking for the opposite.

Right?

So you're looking for a lower figure to start with which would suggest a higher figure of owner occupiers. So you say for a buy and hold that your minimum's 30 and you don't mind it up to, to 70 as a, as a kind of range. But it's, it's kind of the opposite for, for flipping. So you'd want to see it at a kind of maximum of 30. I would correct me if I'm wrong Jane, but for, for the buy and sell you'd be probably looking for a maximum of 30 and, and then less than, you know, down to what would your bottom range there be?

Yeah, so basically what I would normally say is 30 to 70% for a buy and hold strategies percentage of renters that I want when I'm actually using this criteria to select an area, it's for that flipping strategy. It's especially because we're only 15Ks in the CBD. There is going to be in Adelaide here for this example, there's going to be more renters the closer to the city. So wiping a suburb out completely based on, for flipping strategy based on the percentage of renters wouldn't necessarily just because it's over 30% or 25% or 20% renters because in example, it's so close to the city. What John's saying is completely relevant, completely relevant to the pockets of potential. Like when we start getting down to the streets and looking at what the percentage of renters are in the street level, what you're going to be finding there is that, you know, you are looking for less renters. So you are looking around, you know, less than 20% or less than 25% or less than 30% because that indicates that there is the high percentage of owner occupiers. So just if I was just doing the flipping strategy and trying to use the suburbs later software, I wouldn't necessarily disregard a suburb based on the percentage of renters in the entire suburb. I'd still include the suburb because as John has done flipping, but as we say, it's around that pricing disparity and the target market being owner occupiers. And one of those good examples as he indicated, was this, you know, the large percentage of couples with children, almost the higher median age, the less percentage at uni. And down here, John, isn't it the average weekly income, has that improved? So that, that's almost down to what we mentioned before in the census data. It gets down to the 200 property SSC level rather than the suburb level. It gets down to smaller micro levels that the census data picks up for every postcode and then suburb.

We were really keen on when we did, when we were looking at different suburbs, doing a selection stage, we were really keen on that the couples were children, the schools. So we wanted to see there was plenty of schools. We're also interested in obviously the home, high percentage of home ownership and the income level. So really keen, particularly on the higher, when we're comparing suburb to suburb, we were keen on the higher income levels.

If you're just looking at these three that we're looking at here, you know, 33% couples with children, this would indicate to me this is close to a university. 28% and the younger median age 880 as a median price to 38%. 24, 9, 20. And this one would probably be where I would be targeting more 12% uni, 44% couple with children and 927. So if I was going to, without seeing the names, going to compare these three suburbs for a flipping strategy. I'd almost start with this one. If these three were my last three that I was going to do my analysis on because this gives me more of an indication of the fact that there's, there's a higher indication that there's owner occupied kind of established suburb. And as I said, you could potentially go to Ripe House and get the information that you're after, but you could come back down here. What was that suburb that I was just looking at? Allenby, was it Allonby Gardens? You could jump in Gardens. Oh, I'm now locked out. I have to sign up to get access. Yeah, send me updates. I've hit my limit. 3 pages. This changes all the time. One of those strange things. But when you jump into Microbirds here, all they want is your email address. So where are they?

Lorraine suggested the people doing the spreadsheets manually should share them. So stick a post on the Facebook page.

Good idea. Okay. They're not going to let me get in here. So microbirds has lost their opportunity to have a fabulous. So what we could potentially do is jump into.

Yeah, go show us. Rightpouse. I interrupted you there before but that's awesome the way you can do the pockets.

So Micro Burps is going to give you the free opportunity to do this and I think we have some discounts. John, also available or Ripe House 14 days and $400 off their annual fee.

Yeah, The thing with these, it might seem expensive but if you're just using it, you know, for, for a single purchase and you know, you don't forget to cancel your subscription, then I think it's a no brainer because it can make such a huge difference finding the right pocket within the suburb to your overall performance of the property.

Let's just find one of these suburbs that I've already plotted earlier. Three bedroom houses and what we're looking at here is this gives me the idea of percentage rented. So in Kedron Queensland, which was one of the suburbs that came up last year for us in the hot spotting workshop, the one day workshop that we did in Brisbane, there was 40% rented is what the suburb has. But as you can see here, as we kind of hover over these areas and have a look at these individual areas. Now when I talked about those SSC areas, each one of these funny little shapes is actually represents 200 properties under the census information. So you can see here, the suburb itself has 40% rented, but up here we've got 57. So the yellow, so this county color, I'm pointing at the screen, this color here is yellow. Obviously the drugs are about to kick in. So this is where the renters are, but here's the darker green one. So as a flipper, you know, 17% renters. So this is a real indication of why I wouldn't potentially knock a complete suburb out. Using the suburb selector software, it shows me 40% renters, fabulous thumbs up. But this is where the renters are and usually they're along a public main road for instance, or near the shops or near the transport. But over here we've got 18, once again pointing at this 18% and we've got 17% over here, 33%, 19%. So if I was going to select an area, I might start in this area and start looking at properties that are, are on the market at the moment in this area and that might actually give me an indication of and start looking at the pricing disparity within these properties. So you know, you could start pulling up these properties and say, you know, is there renovation potential within these and you know, what is the difference between the recent sold and unsold? So you know, this property here, it's a two bedroom property unrenovated and it would go through and give us an indication of what potentially the listing price is. We get an average sale data for the last quarter for the suburb. But in that little tiny pocket here we also get an idea of what's happening in this tiny little pocket. So this gives us the 18% rent as compared to the 40%. There's the higher income which is more indicative the rest of the suburb. For owner occupiers it's not getting as much rent but there's not that many properties there to rent either. And then we start looking at the comparable. So you can actually generate your own comparables here for this property and then you'll get an appraisal and you know, will go through and give you, you know, the average price, the good price, you know, poor price. There are other two bedroom properties, you know, let's just say that we take all of those through. It'll do an appraisal for you and come up with the information so the information is relevant. It's kind of hard. The reason that we say, you know, we really need to have a strategy in mind first of all. So you know, we're saying here two bedroom house is usually 580 but compared to, you know, the proximity to gentrification gives us a little bit of an extra push. It's within 100 to 580 meters from the schools, which is good. Not close to shopping, it's close to transport, no public housing. So they've kind of done a little bit of an estimate of what this price would be and that gives us a, you know, well this is an unrenovated property, you'd kind of be very happy if you could pull up in the same area a renovated property that gives you pricing disparity. And then I'd go and jump into RP Data Professional and I'd be doing some valuation reports on that. But real power of this is the fact that you're starting with a bit of a criteria in working out, you know, with the suburb selector software what you can afford and having the suburbs that come up with what you can afford and then getting through, you know, the next step and the following step to work out, you know, do they have some of the capacity or the information that you want and then you get into the more detailed information which is, you know, the RP data analysis.

And even Ripehouse before you start playing one suburb off against the other two where it becomes powerful. But just Jane, there was a couple of other overlays in Ripe House which are really good for flippers too. One would be the houses obviously. The other you can also bring up the income which is good.

Let me just. That's income. So $1,020 for average income in this suburb. So it also gives you the local government area, so the council area and the state. So it's above for the state. And if you started clicking here.

So much easier than doing in census.

Yes, much easier. So you know you've got. Here's where the. These 1125. 1125. So you've got a feeling. I'm just looking at this number here under rent income. So the income. You can see that this area here has got a higher pocket of income associated with it.

So if you imagine there just in Ripe house alone you've gone from working out where the owner occupiers live and then you've had a look at just the houses. Assuming that you're looking at renovating houses and then you're looking at where all the high income people are. You can start to narrow down to a couple of areas. They're really, really quickly and you know.

Even this property type, you know, percentage of units, 31% units in the area, it's quite a large percentage of units. Once again, this yellow here gives you an idea of this is where the units are. And look at this, you know, 73% units compared to no percent units where these owner occupiers are. And you can even overlay these together so you can get some kind of colors. Yellow on yellow is not very handy but no yellow on income. You start getting, you know, these really the green and blue. So you know you'd be targeting blue if you were doing the flipping strategy. So that kind of gives you an indication of how you can utilize the information for that flip. But remember what we're looking at with flipping is your owner occupiers who your market is. And you can find that through, through information here around that income and average income and the couples with families and median age. That gives you an idea of is the suburb kind of apt for this strategy. Then you get down to the pockets of potential and find the streets. And then once you get down to those pockets of potential and you find the streets and you do that kind of level of information, that's when you can get down to RP data and you can start pulling up for instance some filters. So you know, I've done some territory kind of studies for different areas and you know when you start, when I say territories, what you can actually do is you can start pulling up. Let me have a look here. So here's a territory I prepared earlier. So I did one for West Footscray. So basically what I did was I went into, I went into and said where? Went into Ripe House and I said where are the renters? So I actually got say for instance I could have mapped this little area here that I was after, so I could have mapped that area. So what I did was I grabbed what those streets were by going into detail and finding out exactly what the boundaries were. So in this instance, you know, we've got Edinburgh Avenue down to been along around 11th. So if I was going to do this for Kedron, I'd actually create just a kind of little territory in RP data as I've done here as an example in West Footscray. Said, hey, this is the area that I want to concentrate on. So I've then got my new area which is West Footscray 1. And then I would have the information that would say what's the typical time type of property? And it's probably a three bedroom house, West Footscray. So I can see at the moment there's two sales. What's on the market? So there's one on the market. But what I can do is go to all the properties in West Blitz Grey in that tiny little area. So 126 properties are in that territory that I just chose. I can select all of them and I can add them to my watch list and when any single one of those come up for sale, I will be notified on my front page. That tells me that there's Currently an alert that says one of your properties has come up for sale or been sold and the property will come up and I can go through and say this is something that I want to have a look at. I can create my own jump on.

The phone and put in an offer.

Yeah, there you go. So that's how I would take it through the whole process from that suburb selector software potentially using Ripe House through to RP data and getting the information and setting myself up watch lists.

So guys we're getting towards the end. If you've got a question stick your hand up.

It's wonderful. Thank you very much that really helpful. Oh good, good.

Awesome. Thanks Tian, do you have a follow up or you. You're good?

Yeah, I'm all good. That's great. Thank you very much. Get a talk to you each week actually.

That's great. See you later.

And just the RP data we've got the special deal somewhere John, don't we? The RP data for people.

Yes. In the resources section of. Yep. So Jennifer's got no more hands up Jane but I do have one written question from Jennifer again guys if you've got any last questions chuck them in now as we'll be wrapping up shortly. But Jennifer says in the suburb selector software I was interested in the spread of values which was discussed in the last video of module 2. However I was looking at the suburb selector software for a Sydney suburb and that was not available. Yeah unfortunately Jennifer we had to remove that just because the data we're getting at the time which was last year wasn't it was proving unreliable so we couldn't, we couldn't make buy a house such important decision based on it. Yeah but we do have plans to, to bring it back in the, in the future when we can. Yeah make sure that that's absolutely right was a, a feature that I really liked gave you that nice spread but there is, you'll see in module three there's a couple of workarounds when you get to the suburb level that you can do that as well. One of them being the price pin map which will show you that spread of values at a street level. Bit more manual than perhaps we'd like. I do recall we have grand plans.

Of integrating everything, don't we?

That's right.

Fabulous.

Perfect. I think that might be it Shane. There's no more hands up, no more questions in the question but. Oh here we go. Alana's got a question. I'll just unmute Alana's line. Hey Alana. Hi how you going? Very well.

I just had a question. We've got a property that I'm helping do a renovation on which becomes unoccupied mid July or just probably before then. And I know the discount card doesn't start. You don't send those details out. 30 days, I think you said. But if we waiver our rights for the 30 days, can we get it earlier?

Sure. That's doable.

Yes.

Give the office a call. I'll take a note of it, Alana. But give the office a call just to be safe. And I'm sure that'll be easily arranged.

Yep, that'd be great.

Thank you.

Great. No problem.

And make sure you post your renovation. We'd love to see before and afters in the. In the club. Well, I know that you guys were speaking earlier about the cost of the roof spray. 1700. We had a house probably looking similar size of that. We're just rendering the front part, which is like a bit of a bay window type area. And then a front section, the roof spray, the internal paint, the exterior pergola paint, and the kitchen cupboard spray paint. And it came in at around $9,000 to have that done.

Okay.

Wow. And whereabouts are you doing? It's on the Sunshine Coast. It's around the Kawana area. Yep. Wonderful. Excellent. Well, we definitely want to see the before and afters of that. That's going to look sensational.

Yes.

A lovely old, very old pine kitchen.

All right.

And it will spray up a tree. Yep. Yeah, absolutely. I think that's what I like. Yeah, exactly. Except the skylights, apart from the grass. One of the tools Nicole has, nicely put also in the club is I just want to refer people to some of the abbreviations that we often use. And everyone assumes that everyone knows what these things mean. So don't feel silly if you don't know what the names are. But if you go into the club itself and come up to the. I think we. We've got some things posted at the top, but at the moment, if you have a look through there, you'll actually get an idea of the abbreviations, so you can download that yourself.

Actually, Another one in Module 1 of Ultimate Guide as well.

Yes, as soon as you get. Perfect.

Perfect. All right. Lana, have you got any other questions before? You might be the last one. Okay, great.

Yeah, I might come in and log back in and listen to the first part because. Not sure what was covered there.

No worries. Sorry if you missed an email. I know a couple of people in the Facebook group did. So apologize for that and we'll try.

And get to the bottom of the accommodation book.

Oh, wonderful. So we'll see you at the event. Great.

That is so exciting. Well, you know what, you might even find yourself up on stage telling us about your Sunshine coast renovation.

Might be a bit early then.

Put her off. Yep, that's great.

And just a reminder, the Reno Fest event there you would have got an email regarding those with the ultimate guide of renovation purchase this year got one free ticket and we've reduced the ticket for you to bring friends and family along by $400 so you'd have that code sent to you. And for our special your property success club members themselves, we've also sent you a code out for the discounted price. But it's going to be fabulous. And we've got so many things planned. We've got a huge session tomorrow in putting more of it together. But some of those topics that are a little bit harder to do by yourself, maybe managing the quick quote calculator, even some suburbs later software information. We'll be running through that and going in depth. We've got the panel of interior decorators talking about stuff, style guides. We've got so many exciting sessions ahead. So make sure you're there. It's been a really, it's going to be lots and lots of fun.

Yep. Absolutely. And we've been talking about this for years too. So how good it's going to be to get everyone together at last.

Absolutely.

And it's. And it's cheap. Made it cheap. So everyone can come. Let's see. No more, no more hands up. So, yep, we're all good. Going to wrap up.

Fabulous. Well, thank you so much and thank you for being so patient. I know that maybe audio or maybe you couldn't even tell that I'm laying in bed doing this. But appreciate, appreciate the well wishes and everything that came through. And yes, I hope I'm off crutches in the next couple of days. So I hope everyone has a fabulous month once again. You know, we run these mentor course calls on the last Thursday of the month at 8pm Eastern Standard Time, daylight saving time when we have it. And we really look forward to answering your questions. You can send the questions to questions@yourpropertysuccess.com or the 1300 number, which no one ever uses. I think I might put my screen Back to you.

130076119 triple 191-307-6119.

And look, this is a really special community. We're really Proud of it and we really want you guys to get the most out of it and we really want to contribute to your success. So be active, be part of the Facebook group. Once again, the Facebook group is not for support. Please send us any support questions@supportyourpropertysuccess.com we can chase.maps. we can get you access to things that you haven't got access to, problems, et cetera. And we can do that really quickly and efficiently. We're not always across the Facebook group, but as you know, there's hundreds and hundreds of people in the Facebook group that are there almost 24 7, it seems sometimes to answer your questions. So it's a fabulous group. Please share your experiences. Looking forward to seeing those that are in the Club or Module 1 or in Module 2 and Auckland Guided renovation, sharing your jot maps, as Lorraine suggested, if you're creating your own spreadsheets, you know, put them up there. Your criteria is not the same as other people's criteria. So don't think that people are going to snaggle up the opportunity of a lifetime for you. And already we've seen, you know, the community come together. There's so many people who live and are looking around Newcastle sharing information. And one of the really exciting things that we're looking forward to at The Renault Fest 2017 on 29 July is actually bringing you guys together, so helping you create meetups in your areas, helping you connect with maybe JV partners as well. So we've got some really ideas around how we can help you connect there because we know how important communities and this group is such a. I mean, I've been a part of a lot of property communities and forums and things. And I, and I have to say, this is the best in Australia that I have been a part of and I'm so proud to call it our own. But we just have such a lovely group of people with so much experience that are just so willing to share. So get into the group, ask the questions, don't be afraid, get on the calls, the monthly calls, ask us questions and know that we're here for you. But with that all said, John, anything before wrapping up?

No, nothing from me. A few messages coming in. Yeah, second that.

Thank you. Well, as always, guys, here is to your property success. Have a great month.

See ya.