Your Property Success Mentor Call November 24-11-2016

Hey, everyone. Welcome to the call. Now, just before we start, I just have to do the disclaimer that it's important for you to understand that you need to take care in applying what you hear on this call to your own personal circumstances. Everyone's situation is different and all the information in tonight's call is based on our personal experiences and opinions is not intended to be specific to your circumstances. So 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. Now, we also routinely record these mentor calls and reserve the right to share the content down the track. So by participating in this call, you're acknowledging this, and if for some reason you prefer not to be included on the recording, we just ask that you contact our office on 1300, 963646. That's 1300, 963646 within 24 hours. And we'll happily edit you out of the call. And yep, that's about it, I reckon, Jane. So I'll hand over to Jane Slacksmith.

Hello, everyone, and welcome to the call for can you believe it? November 2016. We really look forward to hearing from you tonight and as always, have lots of exciting things to share with you and a big shout out to everyone from the Ultimate Guide to Renovation Tonight. Module four is down. Module five is out tonight, which is a really exciting module we'll get into a bit later. But, you know, we opened our doors just four short weeks ago and we welcomed all the new members in and it's been fabulous to see them in the Renovator Network, but not as active as I think our past participants have been.

Well, hopefully they'll pipe up tonight.

They might have some questions or a bit feeling a bit shy, but that's what we're here for, guys. And also, you know, been very, very busy around here creating new things and updating things. And we've got a lot of exciting things in the pipeline for 2017, and we kind of want your input into telling us what you want. So we'll probably be putting out some surveys and some questions to you in the next couple of weeks. We really appreciate if you tell us because, gee, we want to deliver what you want rather than what we think is nice and cool. So these calls are exclusively for my mentoring clients, the students of the Ultimate Guide to Renovation, and of course, my Investors Choice Mortgages diamond clients. And if this is your very first time on the call, welcome to you. And don't be shy, please say hello. These calls are here. These monthly calls are here to support you in your journey towards your property success. So they usually take place the last Thursday of every month. However, we're going to be bringing the December 1st forward because we don't want you to be busily wrapping your presents and trying to listen to us. So it's going to be a little bit earlier in December but you'll get received email reminders of these each month as they're approaching so you don't miss out. And if you're listening to the recording tonight, welcome to. We know that a lot of people who join us or subscribe to the youe Property Success Mentor calls go back and listen to three years worth of calls before they feel ready to ask questions. You don't have to wait that long. Just jump on and have a chat. And for some reason if you cannot make the call, then call us on our message line. 1300-76-119. We still check it religiously but no one uses it so you know it's there. Just one of those things. And as always with me, the co creator of the Ultimate Guide to Renovation, John Hubbard. Hello, John.

Hello Jane. Hello everyone.

My goodness, what a big month for you. A birthday as well.

Oh yeah. I had a birthday too, like you.

Yeah, we're good. November babies. Are we?

Yeah, that's it. Yeah. Oh yeah.

So tell me the big exciting news for those of the us who have been following John's story.

Yep.

For the last three years.

Yeah. Has been.

That culminated.

Yeah. So sale. The last two. The first, first one of the last two sells. This left hand side one sells tomorrow Saturday. Sorry. Well, sells it goes for auction. Hopefully it sells. Counting the chickens. But yeah. So that's been a long process.

Yep.

26 to November.

So very exciting.

So yeah, I've got some. Got some picks and it'd be actually interesting to see because all of these have come out over time during the calls and so on. So let me. Hang on, let me just see if I've got the right thing here.

Grab some photos.

There you go.

Oh, from the beginning.

So you may remember that I've just got a splattering. Yep, that was the big hole.

So this is where the car park and the.

Yeah.

And this is the one that we're selling. It's the left hand side one. So this block was subdivided years before and they split that. You probably remember the story of us running through the sewer and the water of the rear property because it was buried there. We didn't know about it.

And the gas.

And the gas, Yep.

But conveniently, the man worked for the gas company, didn't he?

Yeah, that's right. Sorted us out pretty quick on that occasion. There you go, that's a big hole. And yeah, that's the board piers, so not much for a pier to do in Canterbury these days, but they drill these big holes in the ground and they fill them with concrete and then they dig the hole on the other side of the pier and that's how they, that's how you reinforce it on the boundary there.

Nice.

So you're trenching for your concrete and then. Yeah, that, that was the raised side over the basement on the left hand side and the concrete on the right.

Slowly coming together. So there's a very high end. We're talking, you know, large purchase prices anticipated.

Yeah, they'll go for around 2 million each, each side.

And what still amazes me is the agents believe that the buyers will come within 500 meters, will be living within 500 meters really of this area. Like the downsizers, they're selling their four and a half, $5 million homes and looking at a three, four bedroom, nice high end, well fit out, lovely home to live in for the rest of the days.

Yep, that's right. That's what they're predicting. So it'll be interesting to see. Certainly been just watching the people come through for the open for inspections. I don't know what you do for an open for inspection, but I'd sit down the road in my car and I've got a pen and paper and I write down, he's going through and just working out if they're what I thought they were going to be. But yeah, it's generally been silver headed Anglo folk for the most part. And yeah, so we'll see. I mean it costs an absolute bomb to, to build as well. But so the, it's not like, you know, that's. Yeah, it's not all profit. No, it's not all profit.

Three years later.

Yeah, three years of absolute financial stress to get it to this point. But yeah, and not alone, of course. So there it is. Yep. And they're beautiful. Just look beautiful formal lounge as you walk in. And remember we spoke about all those things like, see the way those shears aren't pointing, Jane?

Yep, yep. The recessed.

Yeah, Remember we talked about that when we were. We're building it, we just had bits of timber and stuff on the thing, but yeah, that all works out really well.

Fireplace.

Yep.

How much of those Fireplaces.

I think that one's.

I know you could source a lot of things. Yeah.

Spend a lot of time sourcing this kind of thing. That one is around about five and a half I think. Five and a. But. And. And that's about as cheap as you can get. A half decent one and with a. That looks half decent too. And I'm. I must admit I lean on the aesthetic side of things.

I've spent that on. On a brand new kitchen. Y fit out. So this is the difference between the beautiful development high end and you know, cosmetic kitchen.

Yeah. You have to have it certain things. But. But the rest of the techniques are the same. Like the box in the back. I use the same type of shelves, the same type of floating shelf at the bottom and the black and the. The lights in the shelf. So all that's the same as the box in the back. Didn't have shears in the box in the back. And yet she is again same kind of thing. She came up with hanging pendants for the. That was. She is the interior designer who's really good wall carpet. But staging makes a huge difference because we've got the. The one next door which isn't staged at the moment and you walk in there and it's just chalk and cheese. You know you wouldn't take a buyer through there. It's the ensuite of that master bedroom. Same. It's virtually the same as module nine.

I was going to say I've seen that bathroom before.

It's about the fifth time you've seen that now.

Yeah. Box in the back. If you got it right, why not replicate it?

Yep. Pretty well the same. It's the plan at the back pretty soon.

Lift. Well yeah.

There's a lift over to the right there.

Yep.

So this one had the. The lift originally. They both had big basements but he. He gave up banging his head against the wall with council and. And ditch one and kept one and mirror splashback. Which I must admit I love because when you. It reflects everything in. So as soon as you look at it from. Can't really see much there but when you walk in you look at it it reflects all of the courtyard across the lap. Excuse me. And yeah. And a similar kind of thing with begolas and everything that you've seen in the previous in the modules you'll see a begola thing like that that I've used a bunch of times and in the last development.

It's beautiful. This is classic, isn't it?

Yeah.

It's just nice and simple clean lines and things. It's funny, I'm always looking and just seeing if things like the 60 mil is hanging around. Whether it's going and you see other things pop up and different ways to do it.

60 mil.

60 mil. The bench top. Yeah.

Caesar Stone.

Caesar Stone.

Waterfall effect. Having the end covered.

Yep. But it seems to be hanging in there. It's been using that for a while now.

Yeah.

Yeah. Sorry about that. Oven. So again like as a cost saving technique we used Miele appliances. So Mille stovetop and Millet ovens. The Miele stovetop is the. The entry level Miele but you still get the brand recognition. And the ovens are also the entry level meal A too. They're not the. The self cleaning model which is $1,000 more. But having those side by side, you get the perceived value without the. Yeah. Without the hideous cost.

You got my. You got my attention at self cleaning. Yeah.

Yeah, yeah. I would too.

Yeah.

And that's. That's the flat pack. Same flat pack thing that you in module 9 of the ultimate Guide to Renovation. Well, it's not flat pack technique. It's. It comes over flat pack from China, but it's a Chinese high gloss kitchen and it. Yeah. Goes blends in really well. That's the main bathroom upstairs. Stone bath. Very, very heavy bath. 160kg upstairs. Retreat. And that remembered. I think I shared this on the call but there was a big fight over the box cutters. Do you remember that?

No.

What had happened was they'd. Somewhere between the engineer and the builder, the. The water was terminating into a spout. So just a normal regular downpipe. And because the regulations have changed and they were policing it better these days box gutters are not supposed to terminate that way anymore. So they had to have their own internal drainage and all that kind of thing. So hence the reason that suddenly got a feature in that room.

Feature Ceiling space.

Because what's happened against that back wall there? There's a box gutter that runs through there and we had to get water out of there and down the. Down the wall.

So you dropped the ceiling.

Yeah, so we dropped the ceiling and made it a little bit of a feature.

Nice.

Yeah.

And it's interesting. The interior decorator was part of. And guys, check out the youe Property Success Facebook page. Because I put up there John's got, I don't know, 17 minute video which is not meant for Facebook or websites but for the TV to be running with it during the open inspections. But it's beautifully, I guess Portrays the whole story of the inception of this as a concept and the interior decorators and the landscape designers and everything, everyone was there from the beginning and had, you know, the input. So it's not just staging for the silver haired Aussie retiree. You know, as you can see these, you know, more traditional furnishings, every decision of where the lights were and the light fittings and you know, the, even the switches.

Yeah, you can see the power points there for the.

Yeah. So it was, it was incredible collaboration and I think it was a really. Just watching that from a. Not a marketing point of view but just from a. Telling the story of the property and getting people engaged in part of the buying process has been an incredible tool in itself.

Yep. And they. We. Those videos, they're. So there's a short video that appears online. I would never have a video that long on the, you know, on the listing or whatever. But they're actually meant for potential buyers. So they're actually designed for about kind of five to 10 people potentially looking to buy. So anyone else not interested would go, oh God, this goes in for a long time. But it's the same. I used to do videos like that for Ford and the idea is that talking about all of those little details really make people aware of how much goes into building a car or building a property kind of thing.

Mark says was that kitchen 30,000.

No, I think the kitchen, the cabinetry I think was around 8. Oh no, hang on. No, we had all of the. It was about nine and a half including the, all of the back sections as well. The, the laundry and everything.

So you've got a butler's pantry as well. It's pretty much a. Yeah. That most of us would accept as a kitchen.

Yeah. The last time I did one like that on the, on the box in the back using the same kind of method, it took me down from like a nine grand kitchen to a five grand kitchen kind of thing using those Chinese kitchens. Not all builders will go for that because the, you know, certain builders are used to using a lot of Chinese or where imported goods and other. Other ones aren't. They're dead against using imported stuff for various reasons. But this builder was okay on the other one. He wasn't. He didn't want to use any. Put any stuff on his builders warranty that was imported like that. And yeah, it cost us about 40% more to do the kitchen.

Extraordinary.

Yep.

There's those design features out the back. They're quite nice. They added a little bit of interest, don't they? To that porch area. You can see those beams just hanging at the top back.

Yeah. And kind of separate the area a bit. So you create a couple of different spaces. And again, this is an older. Older target audience. So it's a target market. So it's lower maintenance. So there's no lawn or anything like that. And the seats are very, very simple. That's just blue board basically over a timber frame. And it's then tanked inside, so it's waterproofed inside. And then bamboo. Excuse me. And yeah, just a frame that's then clad with deck at the front. So quite a simple thing to build for. For Chippy. You did both. Both of those in two days on either side. So nice and simple. And that's it, I think.

Nice.

Yeah.

I don't know. Are you guys on the call? Interested in development and some more information about these developments because come December, mid December, we should have had at least another sale under the belt. And I think, you know, for those. Yeah. We've got a couple people interested because it might be worthwhile just doing a bit of a case study on the numbers and the experience and the learnings. If you're. You're up for it, John.

Yep, no worries at all.

Christmas present to you.

Sure.

Fabulous.

Very good now.

And what else?

What else? No, that was really it. Do I need to do something else?

No, you don't. Oh, okay. News for me. Well, I too had a birthday happy 46 to me on Monday. So for those of you who are in Brisbane tomorrow evening we're going to have an impromptu birthday drinks.

Yeah.

Why not grab a drink downstairs, come up to the Pav Bar at the Stanford and say hi. 6:37, 30. We'll put up the DOT maps from our previous location workshops.

Don't let her put her hand in her pocket, everyone.

Yeah, I'm saving for Christmas and the. Yeah. So it should be a bit of fun. You know, we know that people want to say hi and come and have a look at the dot maps too. It's amazing. We're running the location masterclass this Saturday in Brisbane and next Saturday Melbourne. Yeah. And which is great. We've got, you know, eight to 10 people. We usually have along to that. And the interesting thing is the last time we did Brisbane was I think June and we did Sydney in September and we did Melbourne. I kind of remember May, I think. But the interesting thing and was that, you know, the previous Melbourne to Melbourne.

Yeah, Big difference.

Was a big difference in the suburbs that we came up. So just as a Simple summary. We start with the dot map. Those of you who've tried the dot map from the Ultimate Guide of renovation module 1 you know that it can take a few days or weeks. We get it knocked over about 40 minutes with and then give everyone a copy of it. We then look at the predictions Residex reports the hot spotting reports. Had a nice chat Terry Rider about his predictions for Brisbane this morning. Ripe House report. We look at the renovators report. So we bring all that information to a short list of about. We end up about 30 suburbs at that stage and then we put them into our new suburb selector software and come up with the buying criteria around you know, percentage, renters etc and come up with three to four suburbs. And the exciting thing is in Brisbane we kind of come up with eight or nine usually and, and I'm quite excited. We're jumping on a bus and we're going out to. I had a chat to Tristan from a place a real estate agent up there has best been nominated again for the REIQ Awards and he, he's a, he's a great guy but he's got, he's like I've got you, I've got you a real deal in Kedron to have a look at and looks to me to 100 grand under renovating delight.

But 100 grand under the come up last time. Very familiar name.

Yeah it did. So I'm pretty excited about seeing that. You never know, someone might walk away with us a purchase. I know some of the people came to the hot spotting workshop in, in Brisbane last time Pete. They bought in there straight after the workshop. So nice. We know that we turns people over really quickly and getting not just a location but a property that they can purchase and same for the guys in the Melbourne hot spawning.

Yeah so you get the list, you get the list at the end of it so you walk away with something.

Yeah. So that's exciting. I'm really excited because I know that within six months that changes so quickly and we, we do hear people say to us, you know, how often should you do a dot map? And I think you know in a normal market where it's not moving once every 12 months, not so bad. But you know as I said we're doing these about four months apart at the moment in different. In the same city and we're finding quite considerable changes. So interesting time. So that's pretty exciting.

Yeah.

So yeah come join me for a drink. Probably have. How about we have drink. I can love my birthday. Why don't we have Drinks in Melbourne too on the Friday night before. Can we go on John?

You're like Eileen, you extend your birthday for weeks.

You know I've always had like a week long birthday celebration and then my son was born three days before my birthday and he's stolen it forever since. Yeah. So pretty, you know pretty miffed at that. So I'm up for the big extension. In actual fact my husband's birthday is New Year's Eve. Yeah. So he's always robbed. We can't get a babysitter. We're not paying you know, 250 bucks ahead for some simple dinner you can get the next night for 50 bucks. So we rarely.

Which side of New Year's was he born?

The 31st.

What?

The day of the 31st. And so hence we have half birthdays in our household. So I have the 21st of June and his 31st of July and so yeah so we, we do a bit of, we do like the birthday. We do enjoy the birthday I have to say. So that's been pretty exciting. So yeah come and join us and, and come up and have say hi and have Q&As and we'll get a new light out. Yeah answer some questions. So that's pretty exciting. What else? I have been chatting to quite a few people in preparation for these workshops. I had a chat to Cameron Crucia from RP Data and he interestingly shared a story about his wife who lost her or was made redundant in February 2016 and November. Still looking for a job and educated corporate role. And he's just said one of the reasons that the Brisbane market hasn't responded as well as the Sydney Melbourne is that there's just not that job growth underlying economy to pull through the market. So everyone's been kind of waiting for the Brisbane market to lead away after the Sydney and Melbourne market move off. And Terry Rider today he had interesting thoughts on Brisbane as well. The PIPA annual survey actually surveyed a thousand investors and asked them where they were going to be looking for their next purchase and over 60% said Brisbane. So picking up on that Terry's done some interesting analysis on Brisbane. Actual fact I've just bought today he's hot spotting Brisbane top five top five for the workshop on Friday on Saturday. So I'm excited to have a read of that on the plane and yeah but he was saying that he believes the economy and the jobs are just starting to, to tick off so starting to come back for Brisbane. So he's thinking it's all, all good and all positive. So that's pretty exciting.

Well, he'd know. He spends a lot of time looking at that kind of stuff, doesn't he just.

And yeah, that's about it. I think it's. It's been, it's been pretty exciting seeing in the renovator network some of the new students and what they've been up to and people have been sharing their renovations and some of the tips and tricks that they've been doing as well. So it's nice to see some activity there. But guys, you know, we're there to help and we'd love to hear more about your journey and what you're doing and what you're thinking in the modules and any questions you have. And it's been fabulous to see the people using the suburb selector software in module two and getting similar feet and three and getting really good feedback on that. So, you know, for those who don't know, you know, 2012, our first ultimate guide to renovation. There was an empty spreadsheet. We told you where to get the data and people started complaining. So we started to try to help get the data and now we've merged into something whole bigger. And we get from many sources the data every month for you. And yeah, presented. And as always, some of the data comes through, right? Some doesn't. You never. You never know some of these things, but when you're looking at so much information, it's interesting and so, yeah, it's been really, really great. So thank you so much for your feedback on that. And if you have used it and would like to share your experience, please put your hand up tonight because I'd love to hear what you thought about it. And yeah, that's about it for us.

Great.

Pardon me. So I guess we should also get onto the call because I'd love to hear the questions that people have. So, guys, when you have a question, all you need to do is raise your hand by pressing the little hand icon in the sidebar menu. It is small and hard to find, but as soon as you click it, we know that you're there. So click the hand button, notify me that you have a question, and when it's your turn, we'll unmute your line. And when we do, there will be a message that says, your line is now unmuted. So you know that it's you that I'm talking to. And you know you can also ask questions in writing. I see we have a few questions there, but coming through already. But I do like having a chat. Mind You. I'm losing my voice at the moment, so we'll see how long we'll be chatting for. But you know, it's a lot easier for me to understand your question and give you a full answer. So, you know, it's. And I think it's more interesting for everyone to hear, hear your question too. So remember, there's no such thing as a silly question. You know, we're here to help. Half of these webinar calls usually go for an hour and a half, so 9:30 Daylight Saving Time. We will try to wrap it up and. Which doesn't ever happen, but we try to be mindful of your time and within 24 hours that will be up into the resource section. So you can go and listen to it if you have to leave. But you know, we want to make sure that no one misses out. So, you know, if you have got a question, please ask. And if you've got a quick follow up, do that and then we'll throw to someone else. And if you've got another question, we'll come back to you. So we haven't missed a question yet, I don't think.

Nope.

And look, this isn't a technical support call and we're definitely not the right people to answer your questions. So if you do have a question, please email us@supportourpropertysuccess.com and we will get the right people as soon as possible onto fixing things. And yeah, that's about it. So, John module 4 has just come out for Ultimate Guide to Renovation, which was all about checklists and looking at the properties and what we do. So we actually have quite an extensive.

Checklist for the inspection process.

Yeah, for the inspection process. I don't know if it's worthwhile just to have a. Yeah, do you want me to jump over a quick little conversation about that? Because I know that there's a lot of people who wonder why we put so much effort into the checklists and when you do things and we've actually got quite a lot of. Let me show you my screen, let me know when you can see it. But we do have quite a large number of checklists and we wouldn't expect you to go through and do the full kind of hour evaluation on your initial inquiry. But you know it, you can see here there's a number of steps that we have, so. Well, when would you do the full. The full assessment?

I like to get. And the more time goes on, the less I like to bid at auction without having done my checks. So Most of the time I'll try and get an offering subject to due diligence and then do the. The steps, step one through to four. And then I'll just use. We have another checklist which is in module three, which is just the open for inspection checklist. And I'll. I'll sometimes I'll put. Or I have just put an offer in just off that, because that's enough to get the offer on the table. And it's interesting, we heard Peter Kleesos talk about that. And he just tries to secure it as quickly as possible and then does his due diligence. So he doesn't spend hardly any time doing due diligence. I'd probably spend a little bit of time, but. But yeah. And then go through the steps because there's nothing worse than. I've done it heaps of times where you do so much due diligence and then miss out on the property and you just gutted and deflated and.

And you've spent some money too. If you, if you're not. You might have taken a builder through, you might have had a piston building inspection done.

Yeah. So 100 bucks at least.

Yeah. You've done time and effort and. And it's almost that emotional buying as well, isn't it? So, you know, it's.

Yeah, it is. It's tough. But I think, yeah, you just got to try and not get attached and just put lots of office in and look at lots of properties. But I find that that nearly always, and it still happens to me, that I get really deflated and. But nearly always within a couple of weeks, a new one comes along and it's better than the last one.

And soon have you. You've done. I find that when you've done that extra due diligence and defined what you want and evaluated a property against what you want and what maybe hits the mark and doesn't, and you might even convince yourself 80% of it's there and then it falls over the property that comes up next, usually because you're clearer on what you wanted and what you didn't. I find especially talking to a lot of my mortgage clients and, you know, the finance calls might have lapsed or the pest and building inspection didn't come back and they're devastated. And by the next week they're like, hey, I found something better. And I know just anecdotally that that's. That's been something that I've seen definitely over the last 11 years of broking, you know, that kind of devastation turned into something better has come along. So yeah, and I think it's just because that, that knowledge that you gain on when you're doing that critical assessment at that last stage. So. Oh good.

I think too people are probably not like if it's first time around, maybe they just don't appreciate how many places you have to look at to find that really good deal. And it's not kind of just three or four and you know, and that'll do kind of thing and hopefully one of those will suit. It's normally tens, you know, it's 30, 40, 50, you know, or more that you, you need to go through to, to get the, the really good deals now you can buy, you know, perhaps you're in a, in a moving market or something like that and, and there's other ways you can perhaps make money on the deal but most of the time to get those really good deals where you're buying under market, you have to look at a lot of properties and getting a lot of faces and get on a lot of agents call list to get those deals coming.

And just a reminder, you know, the first four modules or the first three modules are really around looking at how to find the area and define your goals and going through that due diligence and you know, the resources here, the RP data tutorials and the Ripe House tutorials of actually how to do that sitting there. And obviously you know, we've secured some great pricing for you guys so check that out there and the discounts that are straight through there.

So saves you some time. Yeah, I've always used them just because even though I don't particularly like paying for property software, it's just for the period of time you're looking. It just makes things so much easier. So I reckon it's a no brainer for me.

And one of the unique things that we've got and we've been able to negotiate in our RP data access for our students is that you can turn it on and off. You don't have to take it in your subscription, which I know a lot of people do. So that's, that's great that you've got access to that. So module 5 now I've got to say John, I'm, I can't ever, I love waiting to get the feedback that people give us on module 5 when it comes out because of course this is the module that has the quick quote calculator in it and you know, we put, gosh, there's over what, 20 years of intellectual property into the costing of, of, you know, a lot of these aspects.

Well, when we did the beta testing for the Ultimate Guide to renovation in 2013, it was one of the biggest pieces of feedback that we got back was how to, how do you know how much the renovation will cost? And it just came up again and again and again. So we went to the drawing board and put this together. Yeah, I had a very, very ugly version of this. I did myself a favor in the meantime, getting a decent working version.

Well, this is just a quick little look at what you've got ahead of you. But for those in the Ultimate Guide to Renovation. And this information pretty much populates through from every single individual page here. So, you know, what I love about this is that and what I've never seen before anywhere else is that for instance, if we're looking at painting, for instance, you can start top down with just what's the quoted price for the painter or the color consultant. So you can go in with three and a half thousand dollars of proper, or you can actually go through and you can start getting some specifics, some hourly rates. Here's some guides also for information around hourly rates that you can potentially use, or you can just do some quick calculations. So we give you a bit of a guide here around what you could do for just the labor and materials, if you're really interested. We've costed out all the individual pieces, information around each product that you'll need as well and the equipment. So you can actually start at the top and go, you know, it's three and a half thousand dollars. Or you could get an hourly rate, you know, it's going to be 20 hours. Or you can get a hey, my hourly rate plus material quoted. And that all then populates through. So it's kind of, it gives you all the aspects and even things like, you know, if we look here at the landscaping tab, you know, the recommended types of landscaping and decking, and all of that comes through the different plants that are, you know, we believe a good, good quality plants that stand rental, kind of. What would you say?

They're pretty robust.

Robust, that's the word. So some alley rates here and you know, once again, you know, when you're looking at some of these appliances and things as well, you can actually choose the level of, you know, standard of fixtures and finishes that you want as well. So you can actually go up and you can choose a higher standard.

So set, drop down, come up on the screen when you click it on the spec.

Not there?

No. Okay.

So but yeah, oh well, electrician. So yeah, so there's some really great information there guys. And then you can actually then monitor your quotes against that as well. So I'm really excited about you guys, your, your hands on this and being able to, to use it. You use this to quite up your actually development job, didn't you?

Yeah, first one, it was pretty accurate too.

So yeah, all good stuff.

Yeah, it's pretty well the same, same thing apart from there's a whole lot more newness. In some ways it's a bit easier but I use the alley one a fair bit because the tradies that I tend to use, the guys that, the type of tradies that work for builders and I call them up and I say, you know, how long is it going to cost you to do, you know, the frame a hob for a bath, for instance? Oh, you know, three hours. So I put in five hours in there.

Yeah.

And away I go. And that's the way I tend to quote, you know, do the estimates for a lot of stuff because yeah, the more, the longer you go and the more familiar you get working with the same guys, most of the time they'll just charge, you know, a lot of the guys that work for me would just charge me whatever it takes and I know what speed they work and I know that they're not going to muck around and you know, take off down the pub for the afternoon. So it's, it's an easier way of doing it and that saves them having to come out and quote and all that kind of stuff.

Yeah. So there you go. Quick quake calculator you guys. Module five, midnight tonight. Going to get access to that. So that's pretty exciting. And I don't know what I'm doing here. The, the other thing this, this module also brings up conversation was about loan approval and I get to put my mortgage breaking hat on and have a chat to you about that. But just as a heads up from a finance point of view, I've had a conversation with goodness I would say four people this week alone and possibly the same last week who've said, you know, based on the changes in lending practices, things have got a little bit difficult. We've decided to sell a non performer because we can't get new money and we, and by using the same loan, you know, pretty much by another property.

Oh, okay, like a back to back type thing.

No, no. So what they're saying is I've got a property I bought for $300,000. It's now worth 500. I've got a $250,000 loan against it and I know that I can't get any more money, but I've got the 250,000. So if I sell this property, I'll be able to put $250,000 loan against another property. And the difficult conversation I've had had with with all of them is that the fact that you could afford $250,000 loan when you took it out originally, even though interest rates are 7% then, you probably can't afford now. And I'd say 70% of the fact finders that we're seeing and the borrowing capacities we're calculating, people can't currently justify the lending they have with their current lender if they use the new servicing models, which is confronting. Which means that a lot of the big banks have what's called a port. So if you did decide that you know, you couldn't get any more money and you did want to upgrade or improve the property you have, or use some of the information that you've learned in, you know, Ultimate Guide and Renovation or the Location Masterclass or the Workshop hotspotting Workshop to actually improve your portfolio by upgrading one of those properties, then have a chat to me. We've got some strategies around that. But essentially one of the things you can do is purchase a property of equal value or higher. So the loan to value ratio changes stays the same. The loan stays the same. And if you do, most lenders will allow you make you do a back to back settlement. So the day that you sell your property, you have to buy the next one. So you just move the loan across to the new property. But having said that, there's some lenders that are a little bit more lenient than that then will not reassess your ability to take the loan out again. And they'll allow you to either put it into a term deposit or allow you to put it into a savings account that doesn't earn interest. And the term deposit means that you have to set it for a term, say three months, which is inconvenient when you want to buy the next property in six weeks time. And there's one or two lenders that will let you put into a savings account and access that money straight away. So just be mindful and aware of the fact that just because you can't get new money in actual fact, you may not be able to get the current money you can borrow. And it has created a bit of angst for a few people And I think what we're going to see, see some really interesting times head.

It's interesting the strategies that people were moving towards to get around it. So that's essentially using portability to take. If you had an underperforming asset to then take the money from that and stick it on another property performing asset. Okay, interesting. And they don't. Even though it's a new property, it's assessed because the loans are prevalent previous loans, the assess.

You're just changing the assets secured against so you previously qualified for it and you've been making the assumption that you've made your repayments and you kept them up to date. So therefore they know that you can do it.

Yep. So and in effect, what's really happened with that is that a lot of people's. Not a lot of people, but a percentage of people's loans are upside down, aren't they? Like in a small percentage.

But I have spoken to people in Marimbah and Headland and a number of places where they've bought at 650 with a 1500 dollars a week rent and they might have a $500,000 loan. And those properties are now. Well, I did a. It was horrifying, actually. I did a valuation for a lady in Marimba the other day who'd bought at that 600 price point. And the current valuation. Guess. Guess what the current valuation is. Guess.

Is it lower?

I'm just going to say lower. Lower. Lower. 130.

Yes.

And loan not 130,000 is the current value. So, you know, some real, real heartbreaking stories.

Yeah, that's awful.

And 1500 bucks a week rent down to 200 bucks a week rent kind of stuff. And $500,000 loan.

Yeah.

Against it. So if you sell, you have to come up with a, you know, 400 or $370,000 differential to pay back the bank, the loan.

Yeah.

So hours. So, yeah. Some. Some really sad, sad stories.

And is there ever a situation where someone. This might be a stupid question, but if someone defaulted that they could go on the current lending. No. Because it's a previous loan. Right. Like, yeah. They could never. No. The bank could never turn around to someone say, hey, you're actually, you know.

What are you asking? I'm confused.

No, I was just saying if there's any way that they could actually, you.

Know, get out of paying it.

Yeah. Or penalize someone who was.

There's a contract to pay back 500,000.

On the original 500,000.

Yeah. So that's a bit difficult, but Obviously guys, module 5 is about loan approval. If you want to have a chat to me, get on to investorschoice.com and fill in the contact form and love to have a 30 minute complimentary discovery. Call directly with me and we'll have a chat and see where you are. Search circumstances are. But actually just before we go I see someone's got some hands up. But API magazine asked me to do some predictions for 2017 and there has been some changes and I've had the opportunity to chat to a couple of people actually today in the last month or so. Andrew Morello from Yellow Brick Road, just to see what those guys are doing in the mortgage and finance space and planning ahead for the future. And obviously I've been to a couple of industry events but today one of the companies has Ching has come out. Now they're kind of like a mortgage portal but they've been working with a company that's developed software that allows you to do face scanning recognition and do ID checks over Skype. And Australia Post has lost 60% of their profit through that they did generate through the mail service which we all know is very bad now. And we're actually talking about putting our Christmas cards out on the 1st of December so they get there in time. But they've spent a lot of money with Deloitte's doing a smartphone facial recognition and they believe their business turnaround will be generating income from doing ID checks. So one of my predictions is that and I'm seeing a lot of portals that are allowing people to do kind of online and you know, we're talking like if you haven't had a loan before and you've got a really simple income and you know, really good credit score and you know, credit checks and things and pretty boring actually. You might have a car loan and a credit card and a home loan and that's it. Mum, dad, two kids and enough of income you put in your details online you can almost. We're almost at the point where I think in the next 12 months we'll have loans approved within minutes.

Wow.

And the fast lane at the airport. Yeah. But using the Bitcoin blockchain technology, South Australia who were the first people or country state in the world to introduce Strata Torrens titles that the rest of the world followed. They have just introduced blockchain for transfers of titles. So it's instantaneous. You know, basically a platform of encryption that that's on multi sites so there's no way to hack into people's personal information. The banks have spent Billions or millions at least in using this technology and seeing how they can speed up transfers of funds. And I think you could get a loan approval, you could have money transferred. And if you look at the suburb selector software, you put in your buying criteria, get from 14,000 suburbs down to a suburb, punch it into RP Data properties on the market at the moment that we show you how to do, and have a property that's available, put in an offer and get it settled with the blockchain technology within 24 hours. So I, I, that's where I reckon that's my prediction. 2017, I think.

There you go.

The fintech disruptive stuff is going to be really exciting, really exciting. So, yeah, watch this space. That's my prediction.

You can drive there in your autonomous car.

I know, I know. Well, you know, what are they saying? We can get a rocket to London in three hours or something?

Yeah, I saw that too.

That's pretty exciting.

That'd be a good time.

Anyhow, enough of me. That's it. I'm gonna.

Well, Susan's got a hand up. That's. You're changing back.

Yeah. In the meantime, you can have the screen.

I will. There we go. All right, let's give Susan a shot.

Hey, Susan, do you have a microphone? I see your hand is up. Have you got a question for us?

Yes, I have. Good evening to both of you.

Good evening.

Thank you for taking my call. I hope it's okay at this time. I wanted to ask you about module 2. When I initially put my hand up, we were just finishing, you know, of course, talking a little bit about that. So I hope that's okay because you've gone to module five. I'm part of the ultimate guide to Renovation New Court. So I hope that's okay. I'm just.

Yeah, you can ask about any module you want. Any order.

Oh, okay. Thank you.

Open slather.

I'm a bit slow. I'm still doing module two, but I've done my dot map. Oh, good.

Now where did you do your.net for? What city?

Well, I did have a brief conversation with you about the area of my choice and I was almost against doing it this way because of the suburb selector. But you said that it should be fine to be able to do Newcastle, so that was my area of choice. But I wonder now whether I should be changing because even though that's where I'd like to buy, I think to do the exercise well, I may be better to choose an area that I'm going to be able to Use all the resources, particularly the suburb selector as well. So I just thought I'd run that by you. I'll just tell you what I found in the exercise. I found 15 suburbs with increments over 2. Most areas are less than 6% growth in 10 years though. And in all of Newcastle there's been no area higher than 8% apart from the Newcastle CBD. Now the next stage I got to was looking at purchasing the paid report. So I haven't done that because I thought, well, I don't want to put money into that and then perhaps not be able to go much further. So I would like your advice. You do say in the module that the exercise can be completed with or without the Resx report or the other paid reports, but I'm not sure how possible that is. You know, I need to get some advice as to how you do that. So that's kind of where I'm at at the moment.

Okay, great. So I think the first question that I'm going to tackle is whether you should do the exercise for the exercise sake in, in an area that you're not really interested in buying in. And then. Right. And I guess my, my thoughts on that and I've got a couple of thoughts if you. I might just get. John, I might take over the screen again and just show everyone what we're talking about here. So. So if we talk about looking at the suburb selector software. So we've got the suburb selector software which we've got here and we've got the main capital cities, et cetera and this is what you're referring to. And I'm just going to jump over here as you're talking. I just pulled up a Residex local government area information just to get a feeling for what was happening with the houses in Newcastle. So the regional areas. So we've got the 5.5%, so as you said, around 6% for the last 10 years on average. And 555,000 is the median. So this is just giving me an indication of what the area is performing at. And if you've got that many suburbs with a 2% increment, that's a great start. And what I would suggest, if you're thinking about buying in, in the area, then go through and just download this blank suburb selection spreadsheet. So this is actually the first spreadsheet back in the incarnation of 2012 that we had people populate themselves and essentially this is the information that we populate for people now for those cities. But all the information is here that you go through and populate yourself for.

Those suburbs out of the back of the magazines.

Yeah. And, and just go down here, you'll see where we've got the data from. So you can see that, you can see that there's information coming from these different.

And there's the tutorials for that, for domain and suburb view and so on are still in the module. They've got bonus written in front of them down the right scroll up just.

So this is part of module two, is it?

Yeah, so I'm in module two right now.

Okay.

It's actually, it'll be a module three actually Jane. I think those.

So if we just go up here, Module two has that blank spreadsheet in it and so if it was, if it was me.

Yep, I'm happy to do that.

So here's the bonus, the census map, the sqm, how to use, get that information out of those websites, etc. But back here in module two, you know, if you fill in this spreadsheet yourself, you know, now what I would do just out of interest and you know, potentially and getting an idea of what information comes through, let's just say, you know, you chose. Well, let's say we chose Sydney and we chose a 750,000 purchase price and we're happy to go way below that and a little. Sorry, way, way below that and a little bit above it and we're talking about 40Ks out from the CBD. So what it does is it will come up with some areas. So just take one that just as an example through to the next stage and you can actually just see, you know, this information that we're looking at here is very similar to the information that's on this website here. So you can actually see that the information comes through and when we get to the next step and we start talking about, you know, the past growth and you know, location and information here, you can actually see and what we've done in the tutorials is show you, you know, how to use micro burbs and how to use the census and how to use SQM research and those different websites to gather this information. So you can actually pre populate and add calc columns in here as you want. But I'd suggest that you stick with Newcastle if that's where you're going to buy and just have a look and play around with the software. But you've done the dot map. I would suggest that the predictions report that we talk about for Residex actually just brings up the top hundred areas. So you may not even have Newcastle in it. So that's why I'm saying I wouldn't necessarily go and buy the report if it's a regional area and the renovator report as well. All the Residex renovated reports in the last three days have just changed and they've taken the suburb reports out. So I'm campaigning at the moment to get them put back in.

But that majority of that data is available, freely available, but back of the magazine first protocol.

Okay.

But yeah, the main thing that you'll lose is the, I mean unless you're willing to spend the time to put them all in is the convenience with the software is it'll bring up the surrounding suburbs automatically too. So even if you're not going to invest in those suburbs, it's just interesting.

To compare to its like a visual dot map because it actually shows you, it can show you. For instance, if we just look in these suburbs here and we're looking at the 10 year growth, we can see, you know, that Heckenburg is Heckenburg over the last 10 years, you know, 6.6. So there's almost a 2% differential here between Ash Croft and Heckin Birds. We've got the eights and the nines and the sevens and the eights. So there's not a lot of differential. So that wouldn't necessarily indicate to me that there's like a ripple effect happening in that area. And that's the kind of, you know, visual dot map that this assists you with. But you don't necessarily have if you have the head, the dot map yourself.

So but you can do yourself. You look at, you look at the dot map and you look at the suburbs next to it and you get the magazine and look at how the they've been going over the last 10 years, five years, three years.

Yeah.

And do that just takes a little bit more work.

Yeah. But yeah, no, you can do it.

Okay. I don't mind doing that and I.

Don'T, I wouldn't necessarily rush out and buy those reports regarding the predictions, you know, predictions or the renovated reports. One of the things that.

But what might be worth interesting after you do that and do your manual one is just running an exercise say from Brisbane or wherever and just so you can compare it and get an idea for. Because the more times you do this exercise, the faster you can do it and the more familiar you get with, you know, what criteria means. What.

Yeah, so yeah, I think I wouldn't necessarily rush out for those reports. I mean in the workshop, for instance, in Brisbane. We start with the dot map. We look at the predictions report, we look at the renovator report, we look at the hotspotting report, we look at the Ripe House price pin report and you know, you might find the regional hotspotting report. It has a lot of the regional areas for New South Wales. That's probably. If I was going to pick one report to spend my money on, I'd put $77 into that. Yep. So the regionally.

The regional top.

The regional. Top 5 Hotspotting Report and just. And they'll go into some specifics there and actually I spoke to Terry today and I'll get. Get some pricing up here for you on that resources section in the next couple of weeks as well.

But so that's part of Terry Rider report.

Terry Ryder. So it's not the Terry Ryder report. It's the top five regional regional report, New South Wales. So yeah, I'd spend my money on that one first and. And then yeah, it's a bit disheartening.

When you buy a report sometimes. And there's. I mean that was even in the modules. Actually. There was nothing that came up for Ripe House in our example that we've run through and several times in workshops we've had a report that was no good. Didn't have anything on it.

And that's okay. The experts haven't picked the area but it has come up. You know, we know that people are still buying in Newcastle for sure. That that flow of effect of the Sydney affordability. Newcastle and Gosford and Wollongong. I think we're going to see a lot of more. More stories about people who've made money in the next 18 months in buying in that area. So yeah, I wouldn't give up on that at all.

I think it's a. Oh no, no, I haven't. I have a really good feel about Newcastle Castle. We've been up there and had a look around a few times but. And I live in Sydney so yeah, I have a really good feel and I'm happy to do Newcastle but I was getting a little bit, I suppose disheartened because I wasn't being able to continue on. But now you've given me these suggestions. That's great. So thank you so much.

My pleasure. Absolutely love to hear what you come up with. In actual fact, we had a lady at the Sydney workshop who had sat up all night, if you remember John.

Yeah.

She thought she had to turn up with homework. She does every dot map. She had every dot map For Sydney.

How many dot maps did she have?

She had five, but she had one for Newcastle. Yeah. So people were kind of keen on saying that. So. Yes, congratulations on getting so far. And as you know, you've got access to this forever, so don't worry about being behind a little. You know, this is why we, we have this. No, no, you're doing good. You're doing good. You've done a dot map. Some people are still buying the dot map, so. Okay, thanks.

Thanks very much, really. Thank you for your encouragement.

Okay, no problem. Thank you.

Thanks.

Bye.

Bye.

Bye.

It's nice to see people getting enthusiastic and using the.

Yeah, it's great, isn't it? Yeah. I don't think you ever need to worry about that too. People do it at different. Different order and different pace and whatever. You know, some people choose to dig into module two and really go deep and that's fine. And it's fine for people to go through the modules and then loop back around too. It doesn't really matter how you. How you tackle it as long as you take tackle it.

Yeah, absolutely. And just. I'm not sure. I think Susan's a diamond investors choice client. But just as a reminder that we do do those suburb reports when you request them and for good info on that Residex that have the predictions in there for the. The growth as well, so. Or I think you can buy them on the website for $90 each.

Good call. Yep.

Alex did one the other day.

Hello. G'. Day.

How's it going?

Hey, Alex.

How are things, guys?

Very well.

Good. I'm losing my voice. I apologize if I sound croaky and have a coughing fit, but we're doing well so far.

That's good to hear. Hey, I actually was coby to pick up on two things, John. The point you were making about just getting those offers in there, those stages of actually getting offers in there. So it's all about. My question is, how do you actually go about that by going there, do a quick inspection, run some rough numbers and then say to the agent, hey, listen, I'd like to put in an offer. This is my general offer. And then how do you actually deal with that next phase of. Okay, I'll put it in subject to due diligence and then go through the next couple of phases of getting more detail and getting some better estimates. Estimates before you finalise your offer? That was my first question. And the second one was before you actually sign the contract, how do you get agents I found going in there? I showed them my little Feasibility, spreadsheet, how much I want to make. I'm pretty transparent by that. And I said, look, it's a business. I'm not an owner occupier. I can't offer what an owner occupier would offer. But if you're interested, this is what I can do in negotiable terms. How do you get the agents to be more susceptible or more receptive to you? That's my second question.

Yeah, great questions I've got. Yeah, you got the open for inspection checklist. I'll click over you exactly where I think we're still. Oh, yeah.

Can anyone see the open for inspection checklist?

Yep.

Yeah, great. So as part of the due diligence, we use this open for inspection checklist. And the idea is that you go, you be. To become a suburb expert. You go through everything on the market and we're talking before about how many properties you actually have to see to, to get the deals. And this is always the way I've done it. It's always the way Jane's done it as well. Just go through multiple, multiple properties. And this is just a, a checklist that we use for that. So I have this folded up, it's printed in black and white, and I've normally got it leaning on the, on the, the agent's, you know, little booklet so I can write it down really fast. And I'm just taking down the details of the style of the property and the condition of the property. I'm also taking down a little bit of details about the agent and whether they would be the kind of agent that I might sell for or the kind of. The kind of agent that I want to buy from. So you stick a few questions in there. You know, sometimes it's a question like, do you think the vendor's asking a little bit too much for this property?

Yeah. Because you don't want them to sell your property. And they go, yeah, this guy's.

Yeah, yeah, you're right. Yeah, you wouldn't, you know, want to sell with them. So, and, and what that does, apart from, I know this might sound like a roundabout answer, but that gets you onto their callback list on Monday or Tuesday. And I find that there's a percentage of agents, not going to say how many who are quite lazy. And they basically will only call the people that go through the, you know, have been through on the Saturday and they call back on the Tuesday kind of thing. So that's one way I just keep on there their radar. And also I won't go through the same property twice to do that. But I'll certainly go through virtually everything that comes on the market in that suburb, just so I know that suburb in and out, and we'll go along. And I know, Jane, you do this. Myself and my partner Eileen will have, you know, a little running competition going as to what the property is going to sell for at auction kind of thing, and, you know, shouts of dinner and that kind of thing riding on that. And then. So when it comes down, this is the way I do it. And Jane's probably got a slightly different way of doing it, but the way I do it is when it comes down to I see a property that I like most of the time I've been through, and I know the suburb really well anyway, I've got a map on my wall. I know the exact streets where I want to buy. And as soon as that listing comes on or as soon as that phone call comes in from the agent saying, hey, I've got one on Smith Street. You interested? I'll normally try and get there as, you know, within 15 minutes or, you know, at the end of work or whatever. Excuse me. And I will get if it's suitable, like if I eyeball it, and I pretty well know already whether it's going to be suitable. I'll then try and get an offer in subject to due diligence as fast as I possibly can. And that's. That's kind of of my general way of working. Yeah.

Yep.

You want to add anything there?

No, I think you've covered it beautifully.

I.

The thing is that, you know, I think often, and especially when you start picking up the. There's potential for a property to fit most of your criteria. And it really comes down to then getting, you know, a bit of a more of an expert eye over getting the next kind of checklist that we've got in module three to be completed or even this renovation potential checklist, you know, just as a trigger to get your ideas on what kind of works to be done. You know, I find often you look at a property and you think, yep, there's potential to renovate. And then you might grab out this renovation potential checklist, and you start going through kitchen, bathroom, oh, check out the gutters or the flooring here is a bit wobbly as well. And there's also the bit of, you know, water leakage around the bathroom. And as these things start kind of, you're filling in the blanks and it's like, ching, ching, ching, ching, ching, ching, ching, ching. Ching, ching. And you had the conversation with the agent about what do you reckon you can sell it for? And they're like, oh, you know, oh maybe, you know, if you renovated it, you get an extra 10 bucks a week rent and $50,000 more for sale. And you're like, okay, it doesn't really add up. So there's no point in then running through to that next stage in the, in module three and doing the, you know, that full walkthrough that we talk about about and doing those full inspections where, sorry, Module four, doing the full inspections where, you know, you really, it's a, it's a, it's a big job and we're talking. I want to now make it an hour, an hour with the, the agent and maybe my builder or something to go through and spend all the extra time so often, you know, I know that when I was going through the process, process, I'd often have maybe two or three offers in it at a time. So it didn't really matter which one came off. They all had the numbers that stacked up.

Also helps you not to get attached to when you've got a couple in.

At once, but you're looking in the right area, you're looking in the, you know, the area you want, you know, the streets you want, you know, the type of property you want. There might, you might be fortunate enough that two or three of them come up at a time. And it also indicates to the agent that they can't, you know, know, they don't have you over the barrel. This is one of many offers that I have and you know, I'm going to spend some extra time in going through this and you know, I'm not going to spend all of my time with, I'm going to put in an offer and say, look, I need a 10 day finance clause and due diligence clause and pest and building clause and all those things subject to finance and, and my office, 340 and they come back and say they won't take less than 400. Well, I know I can't make money at 400, so that's fine. I'm not going to spend my time in, in paying someone to come along and do some inspections for me.

So I think with the way you share in that with the agent is fine. I do the same thing. Like I say to them, it's just a transaction for me. It's not an emotional bias.

I think you're doing the right thing by doing that. Alex. Yeah, I think it also lets them know that they treat you differently. They almost, the tone of their voice almost changes too.

It's B2B rather than B2C.

Yeah, they go from the I'm the salesman guy to you're one of us kind of thing. Okay, well, and, and often they let you in on more of the why the buyers, you know, or seller is selling and you know, what who else has been through and you know, what other offers you've had and all those kind of things. And it's, it's amazing how that can just change the tone of the conversation.

So, Jan, you'd have no issues, say, say you went in there and you originally put an offer in your sidecats worth, I think, 350 just from my initial look through subject to due diligence. And then you come in a week later and you see, okay, there's a bit more work than I thought. That means, look, my price is going to have to be probably 330 and you've given your deposit, whatever it might be. And then they say, look, 330 is way too small. And you say, look, I understand. Then you basically don't lose your deposit, grab your deposit and then you just move on to the next property.

I don't think you have the chance to go back with a lower number after you. It's difficult once you've put a number in their mind to come back and go, oh, look, it sounds like you're having a bit of a go. And legitimately, sometimes it happens.

But you get a bad reputation.

You do. You can go back and say, look, my offer's 400,000. And then you come back within the finance clause. Now it's 420 because I need to fix the shed and there's some asbestos out the back and all this stuff. Well, really, you kind of shouldn't have known that. So that's where that, that almost that renovation checklist helps you as well in picking up. So there's the numbers. So, you know, you doing that, those, you know, cosmetic renovation with a 10%, you know, renovation cost needs to be worth, you know, 1.4 or 1.35 or 135% of the purchase price to make your money and make your profit, you've already got those numbers there. So you, you know, bearing in mind that there can be the things that you can't see. You know, there's termites and there's some major structural stuff that you, you not experience enough to pick up yourself, often going back and then pumping up the price, as John said, you get A bit of a bad reputation. So I'd always go in with what I think legitimately is the right amount and have enough information before I just confirmed what I thought during that full inspection process is, what do you think?

Okay, okay. Yeah, I agree. And the other thing we didn't touch on is the multiple offers. So, so trying to get that information out of the vendor as to what their circumstances are, what they really want. Are they bought already? Do they want a quick settlement? They got a whole bunch of crap under the house that they'd be very pleased if you pulled it out for him because he's got, you know, a bad back or all that whatever that is trying to stack those offers. So ideally three, three. And you know, normally it's the middle one that, yeah. That they go for. So maybe if you structure the middle one totally in your favor and the, the other ones are based around, you know, it's price versus time and, and whatever else you can get on the table. But try to avoid just negotiating around price alone. You want to always try and get a few extra things on the table. To negotiate around terms is the, the most obvious one. But if there's any other bits and bobs around there, like, you know, I've heard of people, you know, saying I want the, I want the lampshades or yeah, all this kind of stuff which have no, no interest in whatsoever. But they're just trying to add things onto the negotiation list.

So module six, you'll get a whole lot of information about that kind of either or offer that, that John mentioned. And I think it's just such a clever technique. Rather than saying five hundred and fifty, take it or leave it. It's like, well, you know, you can have 550 and. Or you can take 540 and I'll release the deposit. You know, you know, when you're giving them either or you make them think about they've almost. They're like, there's no C option that says no. There's the. Did you want this one or did you want that one? It's like, oh, okay, now you made me really think about it. So there's some really. Module six, there's some really good information there. If I do say myself.

I do.

Enjoy module six as well.

Those steps there, Alex, are designed to work with. When you do the step 1, 2, 3 to 4, it's designed to work with the quick quote calculator. So when you're doing the, you know, you've got the offer in subject to. You can Go through and feed that information off your hard copy sheet that you've written on and pen as you're walking around and you can feed that straight into the quick quote calculator. The other thing you can do though is just with your open for inspection checklist and your floor plan, if you just work out some basic square meters, you can also, in a, you know, a couple of hours, feed that information into the quick quote calculator and start to get a bit of a rough estimate for your, for your offer, for your price. Okay. Which will happen.

It sounds like you've got to go in and if you're going to do anything, you've got to be pretty good with your numbers, go in low and then, you know, in the worst case scenario, you might say, actually it's not as bad. You know, the floors are pretty good.

Good.

I thought they were a lot worse. In fact, if, if you need to go up, you can go up, but definitely don't look at going down unless something. Obviously if you discover something structural, you can see.

Yeah, I would. I mean, if you're going to pull it. If it was a difference between pulling out and saying to the agent, I know I've discovered something. This is how much it's worth to me. I think you just got to be a little bit careful of playing that game all the time. I have actually done it once and the agent was really, really pissed off. Yeah. Really knocky that I don't. But it was, it was true that I didn't, it was, you know, there was enough to knock a bit off the profit that it was worth trying. But yeah, generally it's frowned upon. But, you know, if you need to do it, do it. At the end of the day, you know, if you're only getting it, you know, two properties, million dollars in the bank.

Yeah.

You get away with it twice.

It's. I've got some clients at the moment who are buying. I was seeing how, how I can guise this and keep privacy. Buying a large old hotel that's been stratted into lots of individual units and a lot of the units weren't available to inspect. But now that they've gone back and looked at them, six of them are absolutely, you know, it turns out the tenants have been complaining for a long period of time and the bathrooms are just abysmal and have to be worked. But it's been, it's been in. It's a mortgagee sale, but it's been under the mortgagee's ownership for the last two years. And no one's been able to buy it. And they've actually gone back and asked for contribution or reduction of price towards that fixing of those bathrooms. And they knew about it. So you know, it was kind of like they got caught out. So it's on the table as part of the negotiation. Nothing's been finalised but it's, you know, it's a conversation needs to be had and it's quite a significant effect on their, their, their profit.

Yeah, those, those pest and building reports are often a good negotiation tool.

I've used them all the time. They always look a lot worse than they should be. They're like, oh, if I've never ever had a pest and building inspection in Sydney that didn't say evidence of past termites. And you just go, look, you know, this really worries me. And you know, you negotiation, you know, often the seller's like, oh gosh, if these guys are founded everyone else is going to find it and guess this is a fair offer. And you know, so you offer, get your, often get your offer. Or maybe a kind of token negotiation going on when they feel like they have to have a bit of a go.

They might even if it's just them agreeing to some more terms for you, you know, like early access or something like that.

And just be, make sure you spend some time in that module 6 because there's some really clever things. I just see people do this all the time. Maybe, you know, they're putting in an offer of 440 and the property's on the market for 460 and they come back with 450 and people go, no, no, I'm not moving. And they go, okay. And then they half it again and they go up to 455 and you've moved up 15 grand and they've moved down five. So you know, if it's 440 to 460, you might come back at 4:42 and a half. You know, don't keep splitting the difference because you're splitting your own profit. Yeah, it's amazing how many people do that.

Yeah. And it's, it's a funny game. I mean I quite, I, I must admit I like the negotiation because it's, it's, it's way easier than plastering walls to make money. Like you really are just throwing a few words out there and you, you know, there's five grand. Another word, there's ten grand. But. So I, I quite like it. But the, there's a thing called diminishing concessions which Comes in that module 6. And the idea is that, you know, let's say you started 20 grand apart and then they move five down and you move five and, and the next time you come to move, then you, you only move three. And then the next time you move, your next offer is two and then you come down to one. So it seems like you're coming to your end point or. Which is completely arbitrary. It could be any, might have no relation whatsoever to your budget.

But the, the agents going back and I think they're getting really close to their pre, pre.

They can only offer one more.

Yeah, they've only got one more in them, which is amazing because you go to these auctions, you got these agents and you're like, you know, one and a half million, 1.55 and they go, come on, it's only 5,000 more. We're talking about the 1.55 that goes before the 5,000 more.

You know, the straw that broke the camel's back.

Yeah, so, yeah, yeah, part of it.

Yeah, it's the fun part of it.

Great, thank you very much.

Do it with a smile on your face is the key. Yeah, smiley face. Some people take it very, very seriously. I remember little guy, Scottish guy, was buying a property and say no more. Still hates, still hates me. It was not too far away. But yeah, he just had no sense of humor whatsoever. Yep.

Oh, well, thanks for your question at all.

Thank you.

Okay, all the best.

See ya.

Now we've got a question here that's written in from Yee. And I'm pretty sure I, I emailed an answer to her today on this and I said to you, I know, I know John's probably got more to say on this, but I haven't got the, the building, building experience to actually give technical information. I'm going to run and get my battery pack.

Okay. Should I go back to the start of the webinar and just read out that disclaimer?

Yeah, yeah, yeah.

So the question is how to identify a load bearing wall. So basically a load bearing wall is, is one that's propping up something above it. So it can be propping up the story above it or it can be propping up the roof. And the way they're identified is literally someone sticks their head up in the roof with a torch and they find a prop, so it's actually called a prop, which is basically a bit of timber that runs up and it normally is attached to say a valley or a ridge line or something like that on your roof. And basically that's what a load bearing wall does. Now it might be load bearing in another way. You might have rafters onto it or something like that as well. But generally speaking, it's propping the roof above it. So what builders do to get around it, and this normally involves getting a building permit to do it, is they'll put a beam in from two other sources that will take load. So for instance, you might have a wall on either side of the room that's running at 90 degrees and they'll run a beam across and they might put some chocks on top of that wall and they'll run a beam across in the same direction that the walls run and maybe above the wall or beside it or in where, where the wall was before you moved it. And then they'll prop down, they'll put their props down onto that beam and that'll take the load of whatever that wall was propping up. So that's basically what a load bearing wall is. But the important thing there is, please don't go and do, you know, decide load bearing walls yourself or, or assume that you can take them out and stuff like that. Some load bearing walls are way harder than others to get rid of, but it's definitely worth asking the question because some are actually really easy to get rid of. Might just be one prop that makes it a load bearing wall and put a, put a bit of timber up there like a lintel or whatever, and you can get rid of it and you can open up a whole space. So. Good question.

Thank you. See, I knew you were the right person to answer that question. So do we have any. Did that answer your question for you?

You.

Waiting for the typing in the. Yes.

Half.

Half the question.

All right, give me the other half.

Maybe you have a. Maybe she has a microphone. We're going to try to unmute you and see if we can get the rest of your question. Hi, can you hear us? That was a bit scary. Yeah, I can. Okay, can you talk to us? Us? No. Okay. Okay, put in the rest of your question and we'll see if we can answer it. Lots of typing going on in the background. Yeah, and. Oh, Susan got a hand up again. Or. Or is it just hasn't gone down?

No, it hasn't gone down.

We have any other questions?

No more. Hands up.

Oh, we've got lots of people on the call. Come on, guys, gotta have some questions. I'm not sure if he's.

Oh, here we go. Christine.

Hi, Christine, how are you going? Have you got a question for Us. Good. How can I help?

Can you hear me?

Yep, gotcha.

Just a quick one that we came up with today. We're looking at a couple of properties are up for sale on the same street. And talking to our broker, they said the bank may actually have a problem with that. That if we go for one loan on one property and say because they're both auctions, we don't get one. The feedback was that the bank may not be interested to even attempt to lend us money for the second one.

Okay, that's a bit bizarre. Let me think about this. So you're saying that there's two properties for auction on the same street. So if they're for auction, the bank doesn't know the address until you have the contract of sale that you've purchased it under auction conditions. So they'll give you a pre approval of, let's say $600,000 to purchase at an 80% loan to value ratio. And your broker would have got you that finance set up as a pre approval. So the fact that you go to three different auctions of three houses next door to each other other and fail on two of them and get the third one doesn't necessarily indicate that the bank wouldn't know.

So what our circumstances at the moment is, they want to know what the property is before they'll go unconditional.

Oh, absolutely.

Because it's an option situation. Then they need to see the property.

Yeah. Okay, so you won't get an unconditional until you have actually had the property valued and you've obviously entered into an agreement to purchase the property. So that means if you're going to auction and you're not putting in an offer in beforehand, if you're putting in an offer in beforehand. And let's just say that you put an offer for $400,000 and they accepted it. And it was not under auction condition. So it wasn't the day or so before the auction in Melbourne. That would be considered under auction conditions and no finance clause. But it's say two weeks beforehand. Then you put in your offer for 400,000, they accept it. Your mortgage broker goes back to the bank and says, look, I know that Christine has $450,000 available for a loan, but she's buying a property for 400,000 at a 90% loan to value ratio. The loan's 360, this is the property. They'll send the valuer out. The valuer look at the property and say you Yep, it's worth $400,000 and they will Verify the rental income that the valuer says the property's worth and that's when it will go to an unconditional. Your circumstances haven't changed, you've got the pre approval for the money. So that's how the process would normally work. So they definitely will never give you an unconditional until you're actually purchasing that property. So you can't get an unconditional prior to auction. And I have had a client, oh, gosh, I don't know, about four years ago and she insisted on getting. So let's just say she had a pre approval with amp and she insisted on getting a valuation prior to auction for the property because she wanted to be confident of what the bank would value the property at before she went to auction. And so she went to, she got the valuer from the bank to value the property saying that they believed it was worth, let's say, $400,000. The valuer came back and said it's worth 350 for instance, and wasn't happy with that. But when the property actually went to auction and she bought it for 400,000, the bank said, no, we're not going to change our valuation. We said it was 350, you have to come up with the extra $50,000. So we then had to move lender or get an upfront valuation with a number of different lenders to find one that would come up with a 400,000 price point that wasn't obviously from the same valuation company because the same valuation company would have used the same value that they come up with because they, they hold that firm for three months. And so we had to do some heavy, heavy moving to another lender. So, so you won't get an unconditional on a property until you are purchasing that property and they're sending you the contract saying sign up now, you've got this loan for the next 30 years. So if you are going to auction, you have a pre approval, you need to be able to set what you think that property is worth and your broker should be able to access RP data valuations for the property for you or Residex valuations for you. But don't do an upfront valuation through your lender because that amount that they come up with, they'll hold to. Whereas if you go back to them, you know, in two weeks time and say we've purchased the property at 420, it was market the market. This is the market at the time. This is what the market bought. 420 is the purchase price and they will substantiate that purchase price. And I rarely see valuers disagreeing maybe 5% of the time with an actual auction amount. So they usually, if it's not an auction, they're going out, they're looking at the property and they're looking at comparable sales that are up to three to six months old. But in an auction situation, that is what the price and the market bore on the day. So it's most up to up to date information. So your broker is right in one respect, is that they can't really do an unconditional prior to you purchasing the property, but they won't even know what property that you're looking at and bidding on until you've been successful. So the fact that there's a couple available in the same street should not bear any relevance at all to the conversation or your considerations or concerns.

Okay, I think we might need to question that a bit more with them then.

Just understand the process. Yeah, just understand the process, which is you can't get an unconditional. You might be lucky looking for some validation that you're going to the right amount for your auction amount that you're setting yourself. And they're saying, well, you can't really do that until you come up with an amount and be successful on the day. You can't get an unconditional until that time. But the fact that there's a couple of properties available in the same street, if that was the case, every house and land package around the country would be in trouble because there's multiple properties in the streets coming, coming up. So the only time I've seen banks actually say we're not, we, we won't fund in this development or in this postcode or in this apartment block is when they personally have a large exposure to that already and they don't want to have any more exposure to it. That doesn't sound like this situation.

No, no, this is. They're both what I would call a character house. Like one's 80 year old red brick and the one next to it is a weather board of similar age.

Okay, well look, if you want to just put the address in the chat box just to me and put your email address. I'm happy just to run that quick RP data valuation report on both of those so you have at least something to think about.

Okay, that'd be great.

Thanks, Jane.

What's the plan, Christine? Is it a renovate and hold or just a hold or.

Really depends on the price because the market is moving quite A bit here, but it would be renovate to probably on sale. So it would be most likely a box on the back situation. Our preference is the red brick house in some ways, but the board house is on a corner lot, so it's actually a little bit easier. So they've both got pros and cons.

Great. Please keep us posted, won't you? Because we're looking out at the moment. We're thinking about next year and having some case studies. So if you'd be up for a few photos, we'd be willing to give you a hand.

Absolutely.

In actual fact, box in the back is module nine, the ultimate guide of renovation. One of the key things that when we do our inspections in the location hot spotting workshops is understanding the height that you have to have at the back to actually be able to put the box and the bat through. Do you want to just give Kristen a bit of head up on that? She's got a brick versus weatherboard.

So the way it works most of the time, the box on the back is that. Talk about a timber house to start with, it potentially could work differently on a brick house. But if you had a timber house, let's say a weatherboard house, and you took the weatherboards off the back of the house, you don't. Yeah, let's say you just took the weatherboards off the back of the house. And where that top of the frame is, the top of the frame of the house, it's got a top plate and a bottom plate. And then you've got the vertical pieces of timber which are called your stitch studs. So what happens with the box on the back is it sits on top of that top plate and extends out, you know, for five or six meters even more. And that gives you your open plan box on the back. So depending on how high that that top plate is, I. E. How which is the same height as your ceiling. Because what happens is your ceiling rafters sit on top of that. That will kind of dictate whether you can get that box on most of the time, unless you want to create a step. So you can always drop the level of the floor down and that. That then negates any anything to worry about with ceiling height. But so typically it tends to work on ceiling heights that are 3 meters and. Or about 2.8 and above, because you lose about 300 by the time you've got posi strut, which is the rafter that comes off that, that forms the roof of the box on the back. And your plaster and battens and so on. So. And you, and you don't really want to be having a big space that's any less than 2 5, ideally not less than say 2 6. So that's something to look out for your ceiling height. Now with bricks.

We are aware of ceiling heights in general of what, you know, what the minimum height is because of the age of these properties. They are, do have the highest ear links.

Great.

And I'm not 100% sure because I don't have it in front of me at the moment, but I have a feeling there might be 2.9.

Nice. Okay, well that should work. Yeah, that should work. The other thing is if it's brick and the wall extends past that top plate at the back potentially and I'm just kind of. If it's a single skin of brick, this might be a. If it's a single course of brick, this might be a problem. But if it's a double brick exterior, do you know if it's double brick or not, Christine?

It's a double brick house. At the back though, there is a lean to which is bricked, but I'm not sure if it's double bricked. So I would guess actually demolish the lean to inside part.

Yep.

Yeah.

And hopefully that lean to is an add on and, and the rear of that, which the lean to is connected to is double brick. Because in that case you can attach to the house a different way. You're still, you're still limited by the, the eve of the back of the house, but potentially you can attach what's called a wailing plate, which is essentially just a bit of timber that you bolt onto the brick. Now not, not any good for a single course or a single brick wall because it won't, that won't be strong enough. But if you've got a double brick wall and you'd need to get the engineering done on this, obviously you could potentially put a whaling plate on there and have your posi struts cut come off there to form the. The rafters on your box on the back. But so it might mean that you can get that height up a little bit higher. But you always be governed of course, by the, by the eve height.

Yep, yep.

Yeah. But good luck. Please keep in touch. We'd love to hear how you here going support at your property. Success.comrenovated.

I'Ll let you know all the renovated.

Taking off here. So a lot of times we're getting outbid just by owner occupied.

Yeah. And it's very important if you're planning to flip, obviously, to have those numbers. Right. And know your limit because otherwise it's your profit that gets eaten up.

Yeah, that's. That's right. Yeah. And yeah, don't be trying to set any street records with your resale, with your resales, because it's really tempting to go, oh, we could do a place as good as that. When, you know, they might have. We were up at Brisbane last time. Time. Remember that agent? And he says, he pointed across the road and said, oh, that one. How much was it? Do you remember?

Oh, it was like you could buy for 450 and it's like. And, and with a bit of a renovation, you can have this. And we're trying to sell that across the road at 850 and we're like, wow, is that. Wow. Bit of renovation. Went and had a look at it online and this place had like billiard rooms and theater rooms and pools and landscaping. And it definitely wasn't a bit of a.

Wasn't. It wasn't a comparable sale.

No, no, no. So.

So be careful with your comparable.

Yeah, but make sure you share it with us.

I will.

Thank you.

Good on you. See you.

Now, Susan, I mentioned to Susan the Residex postcode statistics reports that can be purchased.

Do you want me to.

And no, I'm on already.

Oh, you're on.

And just to. To show you, this is one that I did today for some in this postcode in Melbourne, but it actually gives you here the predictions for the growth. So this is unlike when we talk about dot mapping the last 10 years of expected growth. This is the current predictions they have for the next five to eight years and they compare it against the metro area as well. So, you know, obviously at the moment they're thinking Melbourne's going to do nothing in the next five years. Oh, that's a Metro, which is a bit of worry. And this is the. When you buy the actual Residex reports, this is the only place where you can actually get the last 20 years of capital growth from. So these have just been released today. So these are the Residex reports and you buy these per state, but this is the past information. Once again, it's not the predictive information. So. And we're working with Residex a moment. They've asked for our input into creating the next renovation a report. So if you guys have anything particular that you would like added or left off it. Yeah, let us know. And, and we'll. We'll put that into the mix for the conversations we have with them. So, yeah, Absolutely. And yeah, that's about it.

Now we're at 9:30 and there's no hands up so you better stick some hands up if you want to get in quickly. But we do have yeast come back to us and it's about the structure. Structural wall, low bearing wall. Sounds like I'll have to engage a professional to properly assess whether the wall can be removed or not. Yep, definitely that's the case. One of the ways you can do that is with your building inspection. Getting a building inspector to have a look through. It's a question I always ask them as part of the report. Even if they won't kind of, you know, put it in writing. I at least as long as they stick their head up through the manhole and put their torch on it. Normally any professional will be able to tell you pretty quick in most cases unless there's you know, stuff everywhere in the ceiling and you can't see it or something like that.

Like that.

When we do our inspections and assess the feasibility of a project which involves removing certain walls, it's not as easy as we thought. No, I don't think it is as easy as you thought. And cost wise if it's, if it's a very simple, It's one of those things, it's quite hard to, to put a cost on it. It could be anywhere from you know, a couple of thousand dollars if, depending on what kind of floor repair, ceiling repair, if you, if you're putting another floor straight over the top of it. So all kinds of things can bump up the cost. But as a, as a general rule as soon as you take something out it tends to have knock on effects with lots of other things that you probably didn't expect. So I would budget about, work out what you think it's going to cost and then add about 20% and if you say it good, good going. But yeah, anywhere from let's say two and a half to, to maybe even over five. I would say if it was depending on what kind of wall it was.

Yeah. And I mean there's four external walls as well. I've done two external walls where I've put it how to put a beam in and one was just to put the French doors in. So how to get an engineer in engineers report it was part of da submission to the the council. So we had a beam put in and then we put the doors in and I think the engineers report in the beam were probably as expensive as the doors and, and for a little house improvement that I did once I Wanted to put the old 1920s window back in that was there previously and rip out the aluminium window that had been 70s update and that it once again, you know, that was. And it's funny, you know, because it wasn't, it was an expense that probably. And I found the window in a wrecker's yard is exactly the same as the one that was next door. No, I actually was a bit close to that, but I think I paid 350 for it. Yeah, but I could probably find the photo actually. But the, the thing about it was that it was a. We had to put the beam in and had to move a few, you know, bricks out of the way and then try to get, you know, there was a tentative moment there when we had to try to get the window in itself after we knocked out the previous window. And yeah, it really, it did have to all go through council and we had to have everything, you know, right for it. But, you know, it was well worth it and it did end up costing with the builder, I think. I think it ended on, you know, even though the, the window itself was like 350 bucks, it was like three and a half thousand dollars. And the thing is, when we talk about cosmetic renovations, we often talk about, you know, the bang for your buck and getting the money back. And there's absolutely no way that a valuer would walk up the steps of this property and go, oh, new window, three and a half thousand dollars. I'm going to add that onto the new value. But it made the property just look right for the area.

So it was a front window?

Yeah, it was, yeah, it was a very front window. And all of a sudden it completely changed the look and the feel. And it wasn't just dingy old house in the street, it turned into a house that looked right. And so it just wasn't that question in your mind. And it's often, you know, I'll go in and I'll look at a property and you can see people have had a go at tiling. I'm like, well, what else have they had a go at or where have they. Also they cut the corners. And it just creates that question in your mind, I think. And that's the same thing I'm always trying to do with the, the valuer is. I, I don't want to create a question. I want the property to look right for era. I want the property to look, you know, appropriate. So, you know, your question about load bearing walls, I mean, obviously the external wall is load bearing, but you know, Often it is worthwhile to, you know, take that cost on to create a higher and better value.

Yeah, I think I've done exactly the same thing. Replace the windows and the facade. We had a very similar.

Similar.

It was a deco place in this and it had aluminum windows at the front. We went out and got the original deco or very similar windows and had to stick some beams in and replace the. But it made such a difference to the house. It didn't like we could have. There was actually other aluminum windows which we just painted with proper paint for aluminum and they were fine because they had blinds in front of them and they weren't really seen. So there was no perceived value in that. But the ones at the front. Absolutely. And actually that same property, we opened up the back in a similar way too. We put a big beam across and put bifolds in and put a servery window on the kitchen and that was a huge higher and better use for that room. And it. Which in, in turn made the property a hell of a lot more usable and modern and all that kind of thing.

Well, Christine's just put the address in the flow. We won't quote it out, but I'm going to tell you, Christine, I went to school in that street.

Oh, really?

Yeah, yeah. So I know that area quite well. And in actual fact, my parents have a property in that street too.

There you go. You can do a bit of name dropping around there, Christine.

I grew up in Winjiwarra. There you go. So all good. It's taking me a while to open up this presentation. Obviously the pictures are pretty. Pretty impressive, but yeah, we'll see if. And just give me your email address too, Christine. I'll get that off to you. You got any other questions or. Hands up?

I don't seem to be any. Any. Hands up. Any last. Hands up. Not looking good.

Cool.

That's good. We're 10 minutes over anyway, so I.

Want this presentation to puts at 42%. I want to show you my window.

Okay.

Is that okay? Okay. You can do a time filler.

We can stay back and look at the window afterwards if you want.

I want other people to see the window as well. That's a great. It's a great window.

The.

Okay, so what else we've got coming up? Our next Q and A call just so people know and can put it in their diary because we are going to catch up a bit earlier than. Than normal. So, you know, just be aware that it's going to happen sooner rather than later. And let me just Find the date for that. We've got. I think it's the. Thursday the 16th.

Yeah, I wasn't sure whether it was 15th or 16th.

Just confirm that for December. We've got Thursday the 15th of December.

Yep, 15th.

So hang in there. How's this taking 57%?

I don't know.

It's those beautiful pictures that I have in there that I'm trying to show people. And so what else we've got going on, John?

Workshop this Saturday, Brisbane, Melbourne. The following workshop. Drinks on Friday night for each.

Come say hi, come say happy birthday.

Drinks before, drinks after, work in between.

Exactly. That's us all about work. And we've got the ultimate guide and renovation students. We finished by Christmas time. So you'll be well in to up to the box in the back by the time we talk next, which will be really exciting. And we're sending out the renovator cards. So you got the renosave discount cards that will be with you in the next two weeks.

Yes.

So that's going to be pretty exciting as well.

Yep. Lots of great savings there and.

Yeah, so that's pretty exciting. We're doing some planning for our next podcast. Have you got some ideas of who you would like on a podcast? We'd love to hear from you. We're still campaigning for Robert Kiyosaki. We might have to get your help on that, but we've got big plans and I don't know, is anyone there been influenced by Rich Dad, Poor Dad? Because I know. We definitely were, weren't we?

Yeah, definitely. Yeah. Huge. Yeah, there's been. Yeah. So we're going after all our heroes.

So we still want to chat to the people we want to chat to. We had Jan, we had to chat to all the other interesting people, so.

Oh, so I want Sarah Beanie.

I know.

I. I even have a leather jacket that looks like hers that, you know, I put it on. I think I'm channeling Sarah today, so. But all right, I'm going to show you this presentation. It's going to pop up any second now and it's going to be riveting for you.

Okay.

And I hope I don't disappoint.

Well, it's hard not to at this point. You've pumped it up too much.

I know, I know. Well, all right, everyone hang in there. We've got moments to go. I better show you this picture and then we'll let you go. Oh, my goodness, the Internet. This is what happens when you upgrade to NBN.

Yeah, no, I think that's. That's your Microsoft PowerPoint, isn't it?

Yeah, that's you and microphone.

I don't think we can blame the Internet for.

Oh, really? This is a Mac speaking person. Okay, here it comes. Okay, I'm going to go and find the picture and bring it up for you. So it's one part of a 200 slide presentation that I do. Now I just have to find the picture hanging with me there. Yep, it's very exciting. Oh, I can show you one.

All right, you ready? I'll hand over.

Okay. I'm getting there. Okay. Unfortunately, it's just not working for me tonight. Just see if I can. It looks fabulous too. All right, let me see what I can do with this. Wonder why this is not working. Pause it. Okay. Oh, maybe I can just.

Oh, that works.

Scroll through without boring everyone to death with my hundred slides. Okay. Ta da. Well, I was impressed with this anyhow.

Oh, there you go. Yeah. Okay. So the one on the left is the element.

So the one on the left, the aluminum. Now this is the interesting part here is that this is what the typical house is. The neighboring house in the street looks like. So this is what the typical kind of window front window look like. The red and the two greens. And this is me finding it in a wrecker's yard in Pyrmont, the. What's it called? The terrace house down in Pyrmont. And I also found this side window too that you can see we actually put into this nook and it's actually considered to be an entry window. So this was where we knocked out. Knocked out the. This window. We put a beam in and then we just placed with. Within that shell this, this actual window so you can see it looks a whole lot better. I think it looks better.

Yeah, definitely.

And I think I've got maybe one more here that I can share with you that just shows the before and after.

Well, amazingly, no one's left.

Oh, my God. It's the riveting excitement of Jade show and tell. So this is just an example of actually using the space and closing it off. So we just put some doors in this space and we'd seen this on a previous open for inspection. We just had taken the brochure and put it down as an idea for.

The future in your swipe file.

In swipe file. And another thing was we actually put in these fitted, you know, beautiful two pack paint bookcases. And the number of people who walked through and just went, oh my goodness, you got me at the bookcase. It's like really? So I like bookcases and it was.

A nice wide hall, was it or.

Yep, very, very wide hall. And this is that last one that I mentioned where we actually had to put the beam in and put the French doors out the back. So you can see there the, the beam couldn't afford new lighting at the time, so it used to be an aboriginal art gallery and to this day, we're talking 16 years later. That's the same lights that are there now, so didn't need to upgrade them.

Yeah, I mean that makes a huge change of higher and better use, isn't it?

Yeah. But I just wanted to show you that kind of, you know, sometimes I, I, unlike John, I don't do a lot of structural work. I do cosmetic renovations and these are the only times that I've actually gone to the council and got an approval and that was to put those French doors in. And it took them a while to decide on that, but it was well worth it in the end. So there you go.

That was worth the wait.

Was it worth the wait?

Yep.

Good, I'm glad you enjoy that. But I was pretty proud of how that place actually finished up. So there you go.

Excellent.

Well, thanks guys for hanging around and waiting for my presentation to turn up. Hope I added some value to your conversation there, Yi. And yeah, got you the information that you're after regarding the structure walls. Good questions and good information. So look, you know, as always, you know, we're here to help you. We're, we're here once a month for these Q and A calls. You can leave us the number on the 11300 number, but you know, we'd love to answer your questions. The community in the renovator network and even if you're in the your property success club is phenomenal and they're incredibly experienced people. There's valuers in there. There's amazing people. So if you've got a question and you know, maybe we can't necessarily jump in there straight away and answer it for you, but you know, if we have a, have a question, then, you know, we, we're, we're in there quite regularly and answering and so is the community. So for those in the ultimate garden renovation, enjoy the quick quote calculator, watch for your Renault save card and we'll be talking to you on the 15th.

15Th. Yep.

Cool.

See ya. Okay, bye guys.