The Real Estate Forum Podcast Series 2 Episode 13

**The Real Estate Forum Podcast | Series 2 Episode 13**

This week on **The Real Estate Forum Podcast**, we're joined by **Frank Ambesi**, Co Founder & Director of  "Fresh Start Advisory" and an Instagram sensation with more than  100,000 followers**.

Frank has built an incredible reputation helping Australians navigate the property market through investment strategies, buyer advocacy, and expert market insights. In this episode, we dive into the current property market, the role of buyer advocates, smart investment strategies, and what buyers and investors need to know in today's ever changing landscape.

Whether you're a real estate professional, business owner, entrepreneur, property investor, or someone looking to build wealth through real estate, this episode is packed with valuable insights and practical advice.

Whether you're involved in real estate, construction, development, property investment, or simply interested in the future of housing in Victoria, this is an episode you won't want to miss.

👇 Let us know your thoughts in the comments, and don't forget to **Like**, **Subscribe**, and hit the **Notification Bell** so you never miss a future episode of **The Real Estate Forum Podcast**.

A sincere thank you to our valued sponsors for their continued support:

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Transcript

SPEAKER_03 0:09

The Real Estate Forum podcast is back for a special episode because Brent normally we're on every fortnight, but we are back-to-back weeks because there's been so much happening in the real estate sphere in the last seven days. My goodness, it's like every week there is a change in policy. And I'm not just talking a microchange, huge, impactful changes to the way that people can buy property. Brent, how's your week been?

SPEAKER_02 0:36

Yeah, pretty good, man. It's um, yeah, every morning you wake up, you you go online and check the news and stuff, and there's always a change with if it's I feel like everything is just politics at the moment. Um obviously leading up to an election, that's obviously what it's gonna be. Um, but the reason we're back for a special episode is because our guest, um, we've we've tried to go liaise with each other to to book it in, and we've finally got him here in the studio. Um, he's got a cult following of a following of uh of over 100,000 followers on Instagram.

SPEAKER_03 1:05

He's a popular dude.

SPEAKER_02 1:06

And um it's with property investors and the ladies are here. Well, he's got a wedding ring on, so um well, hopefully not. But um, yeah, he's he's gonna be awesome because he sees you know a lot of investors. Um, you know, that's his main job is to help people buy a house and we help people sell houses. So um it'd be good to pick his brain, see what all the investors are doing as well, if they've really pulled back from buying in Melbourne and where he's gonna be looking to buy for investors now as well. Um, if it's in Australia, maybe somewhere else, who knows?

SPEAKER_03 1:36

So the huge policy change that came in uh seven days ago essentially was that self-managed super funds, the government has said, well, to help get royal assent for the legislation to get it passed to the upper house, they said, all right, guys, well, Mr. and Mrs. Green, we're gonna give you this extra bit of legislation to help it get passed through. No more borrowing through your self-managed super fund to buy a residential house after 45 days. So, what I've found, it's been like a bit of a cyclone where um, you know, it's been a tumultuous couple of months with all these changes and the market really has suppressed. And yet now we're in like the eye of the storm where you can see blue skies. It's like this picture-perfect world, very calm, very surreal. And all of a sudden, buyers, investors are back buying again that 45 days. I feel like once that 45 days is over, it might go back to being quite tumultuous, as the cyclone would be. But we're in a really good little period at that moment, Brent, where there's heaps of investors and all the buyers' agents, and we'll catch, we'll chat to Frank shortly. All the buyers agents that had gone quiet for a while, of like, give me something, get me something now. Are you finding that now?

SPEAKER_02 2:40

Uh, yeah, well, we've gone into a little bit of a hiatus, mate. So if I can't say yes or no, you'll sort of be bullshitting. Oh, yeah, because you're unemployed. Yeah, pretty much unemployed for the next uh couple of weeks. But we've got some coming on, so hopefully we get our listings online.

SPEAKER_03 2:53

For those that weren't listening last week, Brent has made the huge, auspicious move to go out on his own and open up his own company called Day House. Day House. And it's officially trading.

SPEAKER_02 3:06

Yeah, so we've got a couple of listings in our in our pocket at the moment, and we've got a few more coming up as well. So, but they're all over the shop, man. Like Packingham, the Gerdies. Get out of here, what do you piss? Piney Bay Man, like stuff get on my territory. They're everywhere. Cranburn. Um, yeah, we've got them coming up everywhere we just.

SPEAKER_03 3:22

Why would you say Packingham is your first off? Yeah, I don't know. I told you we're not friends. Um all right, so for anyone that's like thinking about making the move out to do their own thing, how's it been in the first few weeks? Is it what you expected?

SPEAKER_02 3:38

Um, yeah, it has. Like I've prepared myself for the worst and hope for the best. And you know, nothing bad's happened, but I I'm very uh I I understand that I'm very early on in the in the piece of it, so I'm expecting bad things to happen, but it's uh the one thing I see, man, everyone just tries to make your shit scared. So, you know, if I listen to people, man, I'd I'd literally would still be doing what I'm doing. And I find a lot of people with opinions and a lot of people in their like above uh like the older, older generation, they're very um like scared about it and stuff like that. And I'm just like, well, just you've got to back yourself, man, because all these companies around the the Ray Whites of the world, the O'Brien of the world, Barry Plant, they've all come from an idea like maybe I've had. So um at the end of the day, I'm gonna back myself in, mate, and do everything I can to make it succeed. And you know, who cares if it fails? But yeah, I think it's it's gonna go pretty good.

SPEAKER_03 4:34

I don't think it will fail, mate. I think you're pretty good at what you do, and I think you've done a lot of research. I reckon you'd be sweet. I am intrigued. So you've got a triple story office. Yep. I saw on your Instagram story that it's gonna have a gym and a sauna.

SPEAKER_02 4:49

Yeah, it's already up there. Gym and sauna's already up. That's the first thing we put in there.

SPEAKER_03 4:52

Um I what's the what's what's the need for a gym and a sauna at work?

SPEAKER_02 4:57

I don't know. Like I've I I've got a coach, so you know, he's pretty strict on me with when I train and stuff. So I just didn't want to get in that rhythm of being too busy at work. And I can sit in a sauna, man. I can make calls. So I'm like, why not kill two birds with one stone? Sit in the sauna, get a sweat up, um, you know, get a treatment up there as well. So, you know, we can train and work at the same time. And it makes it comfortable for people in a workplace, I suppose. Like, I don't want my office to be like you're going into work. Yeah, it's cool. Do you know what I mean? Maybe it won't work, but at the end of the day, I'll give it a very hot crack um and make it as comfortable as possible for people.

SPEAKER_03 5:31

You should um name the sauna, the sweat and cell sauna house. Sweat and cell, so you can sweat and sell at the same time.

SPEAKER_02 5:38

We'll do Craig wants to do the podcast there one week. So in a sauna? No, no, at the at the office.

SPEAKER_03 5:44

No, let's do it in a sauna. I'm actually okay with that.

SPEAKER_02 5:46

But um no, it's cool, man. We've got a in the interior design, uh what's it called? Proposal stuff's coming through this afternoon. So um, yeah. Cool. And then we'll have a grand opening, so maybe we'll do the podcast there.

SPEAKER_03 6:00

Actually, that's a bloody good idea. Do I get an invite?

SPEAKER_02 6:02

Yeah, 100%. I've got to have heaps of agents there. So we've got heaps of agents.

SPEAKER_03 6:07

Um I had a question about traditional marketing methods in real estate. Do you think letterbox drops still work?

SPEAKER_02 6:15

100%. I've just I've I'm I'm about to order 10,000 and then probably another 10,000 next week. How do you know they work? Because we can get calls from them. From them. Yeah. Yeah, flat out.

SPEAKER_03 6:27

And so someone says, Hey, I I saw your face in my letterbox. I want you to sell my house.

SPEAKER_02 6:31

The one I'm closing today, and it's no word of a lie. I said to him, How'd you get my details? And I've been chasing him for uh quite some time now. He said, Oh, you letterbox, letterbox drop in my letterbox.

SPEAKER_03 6:41

Wait, so when you said you've been chasing him, so you've got his details already?

SPEAKER_02 6:43

Yeah, yeah, I've I went out to the listing a while ago.

SPEAKER_03 6:45

Okay, so wouldn't it just be because of the relationship you've already got?

SPEAKER_02 6:49

No, no, sorry, when I first met him.

SPEAKER_03 6:50

Oh, you first met him, beg your pardon. Yeah, yeah. So you reckon that still works?

SPEAKER_02 6:53

100%, man.

SPEAKER_03 6:54

So in a world where you dominate on social media and one that is forever moving towards tech heavy solutions, AI, you think that letterbox drops, door knocking, that's that still works?

SPEAKER_02 7:08

Yeah, 100%. I think especially letterbox dropping, because a lot of the older generation, they go to the letterbox a heap. Um, the younger generation, probably not as much. But if I can cover off both aspects, older generation, new generation, you know, what do you think? No.

SPEAKER_03 7:23

I haven't done letterbox drops in a long time. And I'm like, well, do I bring it back in? I would, yeah. Oh, yeah, you think so? But don't take advice from me. Uh I do. I respect you.

SPEAKER_02 7:32

But oh, I would 100%, dude. Because at the end of the day, how much is it? Uh 600, you know the guy who came in the other week, last week, I'm paying him 600 bucks to print 10,000, man. It's 300 GSM. I don't know, it's a crunal or something. That's cheap, bro. 600 bucks, who cares? Yeah, distributed enough. Yeah. Get some school holiday kids.

SPEAKER_03 7:52

So if you were if you were starting out, letterbox drops is where you're at? Just blanket your patch.

SPEAKER_02 7:57

Yeah, well, I'm starting out now. My mindset's like I'm day one. Like I'm I'm Day One Day House.

SPEAKER_03 8:02

Yeah. I like that.

SPEAKER_02 8:03

Yeah, I like I genuinely mean that, man. Like I'm day one, like I've I work like it's day one at the moment.

SPEAKER_03 8:08

Dude, that's so good. And so for you then, you're basically saying, well, forget everything I've like I've learned. I'm starting as a freshie again. Let's reassess everything from the ground up.

SPEAKER_02 8:19

So I'm not sitting back and relying on all my call like call-ins and social media, all the people I know referrals. That's all the listeners I've got at the moment are from there. But during the day-to-day tasks, it's just getting 20 connects like I can go over every week. I'll say to you, um, letterbox drops, you know, boards in the marketplace, all the basic stuff. And we're gonna we've got um like even like little shit, like uh getting coffee cards with your business on the back of it, you know, buying the fifth coffee free, tenth coffee free um in in all of our core areas. And I even went to the cafe on the corner of where our warehouse is and said, give me some coffee cards, I'll pay for the coffees, write my name on the coffee cards, and I'm gonna go to the area and say, Hey, here's a free coffee on us. Introduce ourselves to them and kind of build more or more of momentum from people I don't know.

SPEAKER_03 9:10

I love that. It is July 1, it's the start of the financial year, and for a lot of people, it is a fantastic time to take stock in what you've been doing. Everyone makes goals at the start of the year, right? And and for a lot of people, they forget about those goals after six weeks. Now is a fantastic time to reassess and go, are those goals still serving you well? And on top of that, are you hitting them? Are you making those goals? Uh, and if not, do you need to change them? The market's changed. Maybe you need to change your goals. I think what you're doing is coinciding with a new business. You're coming out with a fresh, new approach and going, what do I have to do to get back to basics and and and and reassess my business? I think a lot of people at this time of year should do that as well, is well, what you're going to spend your money on.

SPEAKER_02 9:51

And you really need to define what makes what what success looks like for you. Like if you've had a good if you've had a good month or a a good, sorry, probably a good quarter or a good year and you're not doing as well as back then, you know, go back and look back at what you were doing to get to those good results.

SPEAKER_03 10:06

What does success look for you, if look like for you, Brenny?

SPEAKER_02 10:08

First 12 months of like day house. So say we're sitting here July 1st, 2027. I'd love to have 10 staff. Um, you know, the the dollar figure. I haven't put a dollar figure on that. Because I think that if you have that those 10 staff, then obviously that dollar figure's gonna take care of itself if that's run correctly. And I haven't really sat down and um put pen to paper for my goals. I know Natalie's put five year goals out, um, which we were discussing yesterday, but I said to her, I haven't done mine yet.

SPEAKER_03 10:38

So Natalie's Brent PA, by the way.

SPEAKER_02 10:40

Yeah, she works with me.

SPEAKER_03 10:41

Um well, next week I want to hear your goals.

SPEAKER_02 10:44

What um have looking back on your financial year, happy?

SPEAKER_03 10:49

Yeah, well I had my best year ever. Yeah, ended up doing just shot of three mil. Wow. Um, nearly 250 sales. Well done, man. Bloody lot of sales. That's really good. It's ridiculous. Yeah. Um I don't think I necessarily want to be doing that kind of level again this year. I think if I can just do two mil, I'd be I'd be happy. Yeah. I'm happy with two mil. Just a cage, two mil.

SPEAKER_02 11:12

Okay, yeah. I'd probably be happy with a mil.

SPEAKER_03 11:14

I wouldn't like to, I'd probably like to get a new wardrobe.

SPEAKER_02 11:17

Yeah, you probably overdue. Like that Haynes, is that Haynes? Yeah. Haynes Paint Shop.

SPEAKER_03 11:21

The Haynes Paint Shop had actually what I'm wearing right now, is probably the the the most late, latest addition to my wardrobe. I've got these shorts which I've had for 10 years. This jacket I'm wearing, I brought, I bought this in South Korea in 2007.

SPEAKER_02 11:34

If um Gab gave me an insight of a few of his investments the other day, and he should be rocking around in uh some Gucci or something. I mate.

SPEAKER_03 11:46

That's funny. Cool. We have got we've got to stop chatting shit because we've got a really good guest, and we want to make sure we're spending time with him. And on top of that, the World Cup game starts in 11 minutes. So we're gonna take a small break and we're gonna come back and introduce our esteemed guest.

SPEAKER_02 12:00

Yep. As always, we want to quickly thank our sponsors for supporting the show. We have Sharon from Style with us, she's been absolutely amazing and a really, really long supporter of the show as well. We have Jade from 11 Financial, which I'm assuming she's gonna jump on the podcast started today, which she is, and then we have Douglas from Adaptive Fire and Electrical, and obviously our fearless producer, Craig.

SPEAKER_03 12:21

Just in the background pointing to himself.

SPEAKER_02 12:23

Me, don't forget me. Craig Hollowell Photography, um, obviously takes care of Gavin and I very, very well. And personally, yeah, yep. Personally, uh I think I've been to his house for dinner for once. Yep. So yeah, definitely looks after us personally. But he's invited us a lot more times, he's saying super excited for today's guest. Um, I met Frank, I think about a month ago, um, jumped on his podcast over in Heidelberg. No, Heidelberg.

SPEAKER_01 12:48

Airport West.

SPEAKER_02 12:49

Airport West. So uh never been there before. Fair, fair, fair way away. So I said called uh Fresh Start Advisory. Nice.

SPEAKER_01 12:56

Uh company's called that. It's called the Invest in New Podcast.

SPEAKER_02 12:59

The Invest in New Podcast. Um, it was awesome to go on there and have a little bit of a different point of view of a podcast being on the other side of the table, which was awesome as well. Um, Frank has a wealth of knowledge, obviously, in the buying real estate industry, also. So, yeah, today's guest, it's someone who's completely changed the conversation around property investing, especially in Australia. Uh, if it's through education strategy and helping everyday Australians build long-term wealth, he's built one of the country's fastest growing property advisory businesses and a personal brand that's re that's reaching hundreds of thousands of people every single month. If you spent any time on social media looking into investing, chances are you've come across his straight talking advice, market insights, and no nonsense approach to creating financial freedom through property. He's a co-founder of Fresh Start Advisory, a trusted voice in the Australian property market, and has helped countless Australians take the leap from thinking about investing to actually building life-changing portfolios. Today we're diving into the current property market, where the biggest opportunities are and the mistakes investors continue to make, how to build wealth in 2026 and the mindset that's helped him build one of Australia's most recognised property advisory brands. This has got to be packed with value, whether you're buying your first home, looking to invest, or simply want to understand where the Australian property market is heading. Because us three probably get that question every day. So, Frank, thanks so much for coming on the podcast, mate.

unknown 14:31

Woo!

SPEAKER_01 14:32

Thank you. Maybe making me blush.

SPEAKER_02 14:34

That's good. Um, I I was driving on the way here and I was listening to Two Worlds Collide podcast or something, and it made me feel a little bit depressed about what's happening in the world. And I'm like, I'm not listening to this, like it's just such bullshit. Um, like it's just so negative about everything. It's honest, it's truthful, but I'm like, I don't need to listen to that. And it made me think I'm gonna ask the boys, is the Marboard market actually gonna get better?

SPEAKER_03 14:57

Wait, one thing, Two Worlds Collide, is that a Tarzan reference?

SPEAKER_02 15:01

No, no, no, that's a that's a podcast.

SPEAKER_01 15:04

Okay.

SPEAKER_02 15:04

Um what do you think?

SPEAKER_01 15:06

Uh the top end of the market's starting to drop. Places like Mulvern, 2.5 medium house price, has dropped by 20% over the last 12 months. So when you actually look at the data, the top end of the market of like 2 million plus, you start to see those house prices starting to reduce. Yep. And then you look at overall Melbourne, I think it's negative 0.05 at the moment. So then you look at up other places like Frankston or Melton or northern suburbs of Melbourne, this place is up 10 or 15% over the last 12 months. So the top end of the market's going to bring the whole market down. That's in my eye. So it's looking at certain markets and understanding where it's going or go going up in value and why it's going up.

SPEAKER_02 15:46

Yeah, 100%.

SPEAKER_03 15:48

Uh, yes, is my answer. Yes, I think it is going down. I think the government of like the federal government haven't exactly been blasé about it. They've been pretty direct. They they want to put their handbrake on this market. Now, the the crappy thing is that the Melbourne market really hasn't done a lot in the last four years comparatively to Perth, Adelaide, Brisbane, etc., which are just booming, like 20% year-on-year price increases. So it kind of sucks that the Melbourne market, which has been lagging behind for so long now is also being hit with these new added restrictions, which are only going to make matters worse from a price. When I say worse, I mean it's great from a first home buyers perspective, right? Um, I my question to you is I've spoken to a lot of buyers' agents, like, oh Gab, a lot of investors like that they're not they're bailing out, they're bailing, like not wanting to buy. Surely this is a fantastic time to be buying.

SPEAKER_01 16:42

It always is. Is it? I I reckon it is always a good time to buy. You look at you look at over the last four or five years, like you said, Adelaide, Perth, Brisbane have done extremely well. Melbourne and Sydney have done nothing. Uh then you look at other regional towns that have done really well and they haven't, and then some that haven't. And that's just because there's always markets going up and down. When Melbourne done well from 2012 to 2017, there was what did Brisbane do? Nothing. Perth went backwards. New car uh new um Northern Territory went backwards. So I think it's always a good time to buy uh when you can afford to get into the market because there's one market going up and another market going down, and plus sentiment's a bit stale at the moment, like you said. And I think we probably will see that for the next three to four months. Everyone's a bit scared. Uh, but it's very interesting with the South Major Superfund, which we'll probably touch on in a second, how they've brought that law in of trying to stop people getting into the market with SMSFs. We've had 10 clients in the last seven days reach out wanting to go and get a property in the South Major Superfund. So it's quite interesting what we're seeing from two sides of the spectrum.

SPEAKER_03 17:37

Do you think there is a world where Australian house prices nationally over the next six months, whether it be metro, whether it be regional, whether it be state-based, collectively decline in price?

SPEAKER_01 17:51

I think we might see for the next few months there will be a bit of a stagnant growth. But I think with some of the areas that are going that go are going to boom is because of the fundamentals of projects, jobs, migration. Places like Tassie at the moment, in regional TAS, there's internal migration is starting to pick up heavily because of jobs and projects that are happening. And same goes in like Townsville. Townsville's done so well over the last five years, growing nearly 100%. But the hospital hasn't started yet with the project. The port upgrade has just started. They've got uh defence force projects that are on the way. Once they get started, they're going to attract more people. So it's probably going to see a second wing coming into that market because people are going to migrate there, they want to upsize their house or get a rental, whatever it may be. So you're going to see effect in that market. And same goes with other places across the country. So I always look at property as the fundamentals have to make sense. And the reason why those markets grow is because of those fundamentals, not because of speculation to some degree.

SPEAKER_02 18:44

Yeah, 100%. So you just if you were to buy in Australia at the moment, you're saying Tasmania, Townsville?

SPEAKER_01 18:51

Uh Townsville's done so well. I think it's that there's still growth left in that market. But I think people, for me personally, I would go Vic, Taz, New South Wales.

unknown 18:59

Yeah.

SPEAKER_03 19:00

If you can afford New South Wales, I think like if you've got a budget of up to a million, you could probably buy New South Wales, but it's still very high, isn't it?

SPEAKER_01 19:07

Yeah, but I would go more regional, New South Wales. Okay. Yeah. Yeah. I think there's some massive projects that are happening at the moment, like half a million to close to a billion dollars of hospital projects. Same goes in Vic, same goes in Taz, uh, and then other projects across the board as well. So if you look at Aubrey with Donga, we've done a lot of damage in that market. It's grown 15 to 25% in some of those suburbs there. So over the last 12 to 18 months. And there's the ATO headquarters in in Aubrey. No one really knows about that. But the distribution center of Woolworths, and there's projects happening there as well across the board.

SPEAKER_03 19:39

So are you telling your clients? I mean, obviously you're saying it's always the right time to buy, but are you imploring your clients like get in now?

SPEAKER_01 19:47

Of course, yeah, if they can, I like to assess their situation. So what we do at the beginning of their journey is we build our property portfolio plan, yeah, take in all their financial situation, their liabilities, uh, income, and then we understand, okay, how many properties can you get or where your current position is. And if they're your current property, it's fantastic. And what does that look like? How many can we get? Because we don't want them, you know, eat you know, noodles and and drink fucking soup for the rest of their life. We want them to be able to enjoy their lifestyle as well. So we plan that out, and then we say, okay, let's go out and get one property now, and then maybe in one or two years get another one and put that plan in place for them.

SPEAKER_03 20:20

That's epic, man. That's so good. So uh run us through, like we haven't really had I think I've had one other buyer's agent on this podcast. What is it that separates then your business from anyone else that can throw a dart at the dartboard and say invest here?

SPEAKER_01 20:37

Good question. I think me, well, me and Adrian, my business partner, we started, we got burnt by people in the industry. So our core values is make sure that no one else gets burnt from other buyers' agents. I want to hear the story. How'd you get burnt? So I signed up at the time I was wanting to get into investing, property investing, didn't know. I was like, okay, I'm gonna educate myself. So I go into seminars and reading books. How old were you? This is 2019, so it would have been 26, 27. Yep. Uh 26, yeah. So I go to this multiple seminars, and at this point in time, I'm like, gotta I'm gonna I've got to pull the pin. There's this guy talking about off-the-plan properties, new properties, there's no much, there's no no maintenance issues or anything like that. And he's giving me the spill depreciation. So I'm like, all right. Rank guarantees, yeah, all that sort of stuff. You get the discounts on um stamp duty. Yeah, so I'm like, oh, I signed up with him. There was like two grand sign-up fee. I'm like, okay, awesome. At the time I was looking at buyers agent fees are like 12 grand, 15 grand. I'm like, oh, that's cheap. Let's let's do this. So buy one off the plan in Oakley, townhouse, like a slash apartment, and then I buy a set a sec one straight away um in Cranberne, which is a townhouse as well. Settled on that, and that property found fell $60,000 below the market valuation that we were signed up for. At the time I didn't even have $60,000. I had enough of the 10% deposit and all the outgoings. Had to call my mum, she had to help me out. I couldn't back out of the contract, I would have lost my $10. Percent and my outgoings. I was like, all right. Anyway, I I knew after that, I started doing research. I'm like, I made the biggest, the worst decision I could possibly make by buying off the plan. And I was like, fuck, what have I done? Hold the property, went through that journey. Um, was lucky enough during that time, I secured another one in Ipswich in Brisbane for 300 grand a house. Nice. That property's worth like 900 grand today. Yeah. That was that kind of saved me. Uh, and then those other ones, I ended up, I still got one of them. I sold them, but yeah, that kind of that left a sour taste. And I was like, during that time, I was like, I need to understand what makes a market grow and makes the property perform. And so I was just got obsessed of learning about the markets and how to pick those markets. People like Simon Presley or Terry Ryder, people, I'm not sure if you've heard of them, but they're really good at what they do. And I got mentored, I reached out to them, I wrote a letter, I remember, to reach out to them so I could just get an hour conversation, understand what they do. And then from there I just kept educating myself. And next thing you know, we started investing in these markets, and these markets started performing. And I was like, I think I've cracked the code. And then, you know, I bought properties for my family, my mum, my brother, Adrian's parents, uh, and then we done for friends. And then next thing, you know, let's start a business. And we did that, and clients started getting results. And I said, if I can get them results, they're always going to come back. Yeah. And so that's how we started to add value. And then from there, I we just invested heavily on the research part and give as much of a great service to our clients across the board, not just buy, set, forget, see it later. It's kind of like we got a big re follow-up process of going over their plans, their goals, their their finance situation. Are they hitting those goals? Fantastic. If they're not, what do we need to do? Um, being proactive. So, and that's kind of been the thesis of our company and I guess helped us stand out and grow this company to where it is today.

SPEAKER_02 23:45

Yeah, it's awesome to hear. And the the the one the one thing I've found on your Instagram, right? He's got a thing on there. If you your property doesn't go up by 10% in the first year, you don't pay any fees. Yep. How long have you been on that for?

SPEAKER_01 23:59

Uh probably for the last three three years in a bit. It was Australian average, and then we swapped we had 10%, sorry, and then it was Australian average, then we brought it back to 10% because we're averaging 21% annually.

SPEAKER_02 24:10

Oh wow. Yeah, yep. That's crazy. And have you have you uh had people not pay? No. Wow. Really? No.

SPEAKER_03 24:17

I'm sold. Are you still running with that even in these conditions? Yeah, still running with that.

SPEAKER_01 24:23

Falls to the wall. Yeah, and we even got a rental guarantee as well. If it doesn't get rented out in the first 30 days, then we'll cover your rent until you get a tenant.

SPEAKER_02 24:31

Wow. But do you guys set the rent?

SPEAKER_01 24:34

No, the the property manager does. There's of course there's conditions. Yeah, market conditions as well. And of course, if they get presented a couple applicants and they don't take them on, that's you know, that's their discretionary at market value too.

SPEAKER_02 24:46

Yeah. Um, there's one advocate that I deal with, and she's so hard to get to buy a man, like, which is good because she's doing her job right for our clients. But when she buys, she buys well. But I reckon I'll send her maybe 20 houses, she'll buy one. But it's good to see that she's a genuine person and not just thinking about you know clipping her the check on the way through as well. Um, you guys would send countless properties to people, I suppose, and you know, they say no, or you guys make a decision not to buy it or tell people not to buy.

SPEAKER_01 25:14

Yeah, of course. Yeah, we look at flood zones, bushfire overlays, insurance policies, where the property is situated, slopes, all that sort of jazz as well. So the boys might look at uh probably five, six, seven properties for a client, maybe more sometimes, and then can them. So there's a bit of a far a process of how we go about it. We don't just buy anything. Yep. Uh yeah, and it's gotta be tailored to them as well. It's not one size fits all sort of thing with our approach. Sometimes we buy units for clients that can only spend 300 grand. Uh commercial property, blocks of you know, so it's all different to what we do, but yeah, there's we don't buy anything. It's funny you mentioned that there's guys in the industry, especially now we're buying places in like uh East Gippsland. A company just came in, they're much bigger than us, and now they're like paying anywhere from 20 to 40 grand over of what what the asking price was, and we're just buying at asking, below asking, sometimes you know, 10-20 grand, and now just blowing everyone out of the water because they're trying to buy at mass. So you see that a lot, which then we kind of like disheartened because like you're not doing the right thing for your client.

SPEAKER_03 26:13

It's funny as that. I actually was chatting to a director down in Chiralgan, and he's like, Gav, we're selling these properties in Cameron Street Chiralgan, which everyone knows is the pits, it's the pit, it's a ghetto, man. Um, and he goes, Um, it's commission housing essentially, and none of the locals are buying them at 350, but these buyers agents are coming and buying them en masse and paying 500,000 for it. And he goes, Gav, you've got to understand, like, this is the shittiest area. I'm like, bro, I know I've got a house in Cameron Street, it's and he's like, his face went white. He's like, Oh, I didn't mean that. Like, man, don't worry, I know it's a shit area, it's a shit area. But like, they're coming in and they don't give a shit, man. They're just buying them, and all the locals are like, nah, it's not worth this. So then people that are selling there are expecting these these prices, but they're not there. If the investors aren't these buyers' agents that aren't paying like a premium for these properties, the locals are like, I'm not gonna live there. So it's actually interesting that you said that because that's exactly what's happening. Yeah, it's crazy.

SPEAKER_02 27:11

Would you um have you ever bought around this area? Would you consider it now?

SPEAKER_01 27:15

Or yeah, we've considered it. We've considered Melbourne and Metro parts of Melbourne uh for townhouses or houses. Some clients just don't look at the they look at the yields and they go, okay, we're gonna spend seven, eight hundred grand on a house, but then it's you know it's gonna rent out for probably six hundred bucks a week, and then like it's just the return's not there. Yeah. So we look on cash flow as well for them, and so they can scale. Because if you have too many properties that are negative, then you just can't buy borrow as much. Uh and I feel like as well with regional towns, if you have projects that come into a regional town, they affect that market much more compared to sometimes uh I guess the metro areas because a lot of people, you know, for here in Pakenham, there's probably a lot of people that work around here, but there's also a lot of people that are probably working in Melbourne and driving there, you know, an hour and back. So when I come we but when you go into a regional hub, it's just like it's all there and everyone's working in there and it just explodes that market more. And that's why you see some of the best markets at the moment in regional towns. And I'm not pro-re regional over capital. We do buy places like in Hobart and a lot of stuff in Perth and stuff. So, but I've always considered it because there's markets at the moment like around here that are doing quite well at the moment compared to if you go inner ring Melbourne, it's it's uh absolutely plummeting.

SPEAKER_02 28:19

But you're right about like hospitals and stuff. Like Frankston just had their new hospital open up. Maybe this was it this year, this year, maybe I think I'm it was this year. Um, like I was lucky enough to buy there at the start of last year, and I didn't really care about the hospital, but you can see now everyone wants to buy around the hospital. Like, I went to the hospital the other day because my partner's pregnant, and I'm like, this joint's amazing. Like, you can see why craft capital grows in these areas when you put a product like this, like it was start of the art, it was so nice.

SPEAKER_03 28:45

Do you remember the D-Sell plant coming in one thaggy? Yeah, and prices went up 120% in that sleepy town of one thaggy, and then as soon as all the workers then bowed out and then the the D sell plant wasn't being used as much because we weren't in a drought, prices then just came back again. Yeah, it's crazy how it just it fluctuates around around that. Um, cool. I think we're gonna go to a small break. Stick around, mate, because we want you to be, we've got we've got our mortgage broker um coming on next. And I want you to be part of this this questioning here, this grilling that we've got for Jade coming up. Um, but also a few more questions for you, so stick around.

SPEAKER_02 29:19

Yeah, I want to talk about self-managed super funds too.

SPEAKER_03 29:21

Jade, thank you so much for coming on. You went on last week, so Jade is our resident mortgage broker, and I felt like the podcast just wasn't a potty without you. I was okay with that, Brent, when Brent's off on his extravagant holidays, wherever he's coming in the world. I'm okay with that, but when you went on, I was like, ah, I miss Jade. Deflated.

SPEAKER_00 29:41

Um, I missed you guys too.

SPEAKER_03 29:43

Now we've got Frankie's advisor agent, Jade. Um, I have a question off the top, though, and I'm holding you personally liable.

SPEAKER_00 29:53

Here we go.

SPEAKER_03 29:54

Last time we spoke, you were like, oh yeah, cool. Uh, you know, interest rates, they're not going to do anything for a while. Now they're talking about raising them again. What's going on?

SPEAKER_00 30:03

Yeah, I honestly I was waiting for you to ask this, and I I saw an article come out yesterday saying we are looking towards having COVID, pre-COVID rates below 2%. The RBA are preparing for a recession. And I thought, I don't want to predict anything anymore because no matter who predicts, we're always wrong, right? Economists are always wrong. Um, and we can only go off the information we have literally today, and tomorrow could be completely different. So I I honestly don't want to predict rates anymore.

SPEAKER_03 30:43

Remember when Philip Lowe, the the former governor of the RBA, came out and said um interest rates are going to stay on the hole for like three to five years, and then with 18 months of bang, they're up to like record eyes.

SPEAKER_00 30:54

Yes. And look, you know, I would really, really hope that they don't increase them anymore because I am seeing a lot of people start to feel the pinch now. I'm seeing a lot of people's borrowing capacity substantially lower, especially people in the investment space, because we've already seen a, let's say, 25 to 30% reduction in their borrowing capacity just off the back of negative gearing being scrapped on new purchases. Um there's already a lot happening. So I don't think that them having another increase is going to get any kind of result that they're looking for. There needs to be something else that's going to bring down inflation.

SPEAKER_03 31:39

Now, SMSFs has been a hot word. And if you didn't understand what the acronym was a couple of weeks ago, you probably do now. Self-managed super funds. Frank, I'm going to ask you a question. As a buyer's agent, how are you finding this? And are you getting mortgage brokers like Jay to push through SMSF approvals so they can buy something?

SPEAKER_01 31:59

Yeah, for our clients, but I've like I said before, I think I had 10 clients this week reach out to start. Yeah. Yep. Because I think it's the deadline's the 10th of August. 10th of August. So I'm doing one myself at the moment. So I'm trying to hurry up and get my stuff sorted. So yeah, it's uh we're starting to see that have effect uh have an effect on our investors in a positive way.

SPEAKER_02 32:19

Is it true it takes six months to get it organized or no? No, it didn't take me that long.

SPEAKER_03 32:23

Well, Jade, how long does it take?

SPEAKER_00 32:25

The finance side of it's really quick. I think it might be more so if you don't have a self-managed super fund. So if you're going through the process of setting up the super fund, setting up all the relevant trusts and stuff like that, that can be, I guess, what takes some time. And if those companies and the structure isn't in place, it's hard for them to go out and sign a contract, potentially. And that's probably where they're more so talking about that sort of six-month time frame from a perspective of getting finance approved. It's really quick. It's the same as any normal loan, really.

SPEAKER_02 32:56

So I wouldn't, I'd I'd be shit out of luck if I wanted to do it now.

SPEAKER_00 33:00

Yeah.

SPEAKER_02 33:01

Well, no.

SPEAKER_00 33:02

Me as your broker, I'm like, yes.

SPEAKER_03 33:03

Jay, can I intervene? Because he has a company set up. What's your what's your company name?

SPEAKER_02 33:09

The try, I've got try a trust set up. Trust, yeah. Yeah.

SPEAKER_03 33:12

What is it?

SPEAKER_02 33:13

Uh Day and Associate Estate Group.

SPEAKER_03 33:16

That's so boring.

SPEAKER_02 33:17

Like, what the it's a trust, no one knows. Well, they ever fucking know.

SPEAKER_03 33:21

Dude, mine's mine's called Galaxy Milky Way. Bullshit.

SPEAKER_00 33:25

Of course it is.

SPEAKER_03 33:28

Um kind of like a uh hierarchy set up from all the trusts below that. Um, but you could, you could go buy through that.

SPEAKER_02 33:37

Because my plan was to buy a commercial property and then uh lease lease it off myself through the super. Um, and then they've come up with this 40 like last week, and I'm like, fuck, I can't, what can I not do it now? So maybe I should ask my accountant. Oh, you can. It's just residential. Oh, sweet. So I'm I but I don't need to be able to do that.

SPEAKER_00 33:58

And you wouldn't buy it, you wouldn't buy it through the company that you've set the business up in either. It would be a separate entity.

SPEAKER_02 34:04

Yeah, 100%.

SPEAKER_00 34:05

We'll talk about it offline.

SPEAKER_03 34:07

Yeah. So I'll come back to you, a small comment you made because I remember I asked you about four weeks ago, and you're like, look, your clients are pretty stable at the moment, which I think is is really awesome. Um, but you're just finding now that if you're on your books, they're maybe starting to fall delinquent?

SPEAKER_00 34:24

I wouldn't say delinquent. My arrears rate is really low, um, which I am thankful for, but I'm hearing a lot more feedback from clients that, you know, things are hard and meeting the repayments is hard, and the stress, and I guess a little bit of anxiety around if rates do go up again and what that looks like for their already stretched budget. Um the conversation of, I guess you could say struggle is becoming more common right across the board rather than just your lower income households.

SPEAKER_03 35:04

Yep. So you're having conversations with people that have mortgages saying, look, like can we refinance to a lower rate? Can we downsize mortgages? You're having those kind of conversations. And what's that been fueled by, do you reckon, Jade? Because the interest rates have been like they were at this level 12 months ago, so it's not like it's brand new.

SPEAKER_00 35:24

But I think, well, yes, it was the same 12 months ago, everything else has gone up in price in the last 12 months as well. We're looking at insurance policies. Insurance is a huge one. If you have two cars insured, life insurance, private health insurance, your pet insured, your insurances across the board have probably gone up by, say, anywhere between $350 to $600 a month in the last 12 months. And that is a huge amount for mum and dad who are on wages with a couple of kids. Um, so I don't think it's just the interest rates, it's the total cost of living overall.

SPEAKER_02 36:05

Yeah, there's so many like new insurances as well that I've even discovered with the business, like cyber insurance, all this stuff. It's a four, it costs a fortune for cyber insurance. Like that's because all people keep getting scammed for trust accounts and shit. Like it's a fucking joke how much insurances are.

SPEAKER_00 36:22

Absolutely. Well, you even think of, you know, my car insurance is $2,000 a year. If you had two cars in an average income earning family, that's four grand a month, that's four grand a year of their incomes after tax straight to insurance. So overall, everything is more expensive. And so the right and the thing is we notice because we're told interest rates are going up, your repayment's going to increase, where everything else can sometimes be sort of little sneaky increases that we don't really notice until we're like, holy, what the hell is going on with my budget? It seems like there's a leak in my bank account, and you realize that you're suddenly paying so much more for everything.

SPEAKER_03 37:09

So, how many more interest rate rises until the damn wall breaks?

SPEAKER_00 37:15

I don't know. One one.

SPEAKER_03 37:18

It's interesting about the insurance. Like, um, I have a friend in Florida and they pay 8,500 US, mind you, which is probably like 13, 14 grand Aussie, um, for just a standard terrace.

SPEAKER_02 37:31

Insurance because insurance. It's because cyclones and stuff have house insurance.

SPEAKER_03 37:35

Well, yeah, and then like there's in the the the sunbelt in the Midwest, you can't even get insurance on some houses. It's crazy. So it is it is super expensive. What are you seeing? Like, obviously, you Frank, you you're probably working in this space as well when you take into consideration a lot of K bits or or overlays on houses. How you seeing the um insurance play out?

SPEAKER_01 37:56

A lot of our clients, I think it's around the 1,200 bucks for the year. So it's not too bad. When we were in Queensland or WA is like three, four thousand. If it was in a flow, it's only like ten thousand, which of course you don't want to be buying it in. But it does affect your your outgoings and your cash flow, especially on an investment. So I guess that's one thing we can one thing we do factor in as well. Just getting a check, we get a quote for our clients and we give it to them and say, look, this is a quote, this is what it's gonna possibly be. So they understand that as well. But it has definitely gone up. And like Jade was saying, if you've got all these insurance increasing, it's just gonna rip into your cash flow and then rip into your borrowing capacity and stop you from going. But one thing that I do with my clients, you're talking about, you know, if rates go up, it's gonna affect them buying. I've one of my clients, I rejigged their their portfolio and I said, Hey, what have you guys considered uh rent vesting? They're paying $5,300 a month in repayments. They can get a rental that's a bigger house, an extra two bedrooms for a thousand bucks a week in Melbourne, and they've they've saved a thousand over a thousand bucks a month from rentvesting and they just go rent their home.

SPEAKER_03 38:56

Rent investing was super popular for the last five, ten years. Jade, I know you've had rent vesting clients. Are you still seeing people come to you wanting to rentvest?

SPEAKER_00 39:05

Yeah, it was starting to become quite common with your first-time buyers because let's just say you have a first home buyer that's wanting to buy on the Gold Coast, they're not getting anything for under $850 to $900,000. And that's something that might be two-bedroom and run down. And so looking at potentially buying an investment property somewhere a little bit further out, or potentially even interstate, was their ticket to still be able to get into the property market. I have seen that slow down a little bit over um probably the last month or two since the budget came out, purely due to the significant drop in their borrowing capacity from the negative gearing changes.

SPEAKER_02 39:48

Because you're a you're a rent investor, aren't you, Jade?

SPEAKER_00 39:50

Yeah.

SPEAKER_02 39:51

Yeah. Because I I think the the property prices where you live are like ridiculous, aren't they?

SPEAKER_00 39:57

So the apartment that I'm in would be worth about 1.7 million, and my rent is four and a half a month. So if I bought this, my repayments would be just shy of eight grand, plus I would have body corporate fees of around a thousand dollars a month.

SPEAKER_03 40:13

Yeah, wow. Even four and a half grand a month in rent is a lot. It's just it's apartment very nice. Do you have views and do you have a butler?

SPEAKER_00 40:22

Um, I don't have a butler, but I do have an ocean view. But but it's an obstructed ocean view. There's you know if looking at apartments on the other side of the highway that are still two-bedroom, you're looking at some of them are three grand a week, four grand a week.

SPEAKER_03 40:37

Who is paying that? Brokers, brokers, yeah, mortgage brokers. Someone's making money in this room. Where are you based, Jade?

SPEAKER_00 40:45

Um, Palm Beach and the Gold Coast.

SPEAKER_03 40:48

Yeah, there you go. She says it with a thumb on the nose. Palm Beach and the Gold Coast.

SPEAKER_00 40:52

No.

SPEAKER_01 40:53

The unit market there's just gone crazy. Even in Brizzy, I got a client, they bought a property for 780 grand, a two-bedroom unit in Milton and Brizzy, and now it's worth 1.2.

SPEAKER_02 41:04

Brizzy's gonna keep on going up because it's because of the Olympics as well, isn't it? I think so, yeah, definitely. It's gonna it's gonna spur it. Yeah.

SPEAKER_03 41:09

So, age or question apartments, yay or nay?

SPEAKER_01 41:14

I always say nay, but nay.

SPEAKER_03 41:17

Yeah, boy. What do you say? I mean, you're in an apartment at the moment, Jade, yay or nay? Apartments, good investments, good houses?

SPEAKER_00 41:22

Uh I think it depends, I guess, on your long-term um investment strategy. For me personally, I wouldn't invest in an apartment. Um, yeah, no. I I have the old belief of it's uh grass that goes up in value and an apartment. You don't own much of that land, so I don't know, I don't think it's a great investment. And also if you're spending over $1.5 million on bricks and mortar without any grass, um yeah.

SPEAKER_02 41:57

No, massive nay. Why a massive nay? I just I don't know, it's small. Uh look at the statistics, and especially in Melbourne, like there's heaps in Frankston or Daninong that we've sold and they've gone down in value and they've bought them 12 years ago. Like it's great. I've never seen I haven't heard many good stories. Yeah, yeah.

SPEAKER_00 42:17

I would I would consider an apartment if there hadn't been so many rules changed around Airbnbs. I think an apartment is a really good option to have for cash flow if you would have rented out as an Airbnb. Um, but for long-term growth, yeah, probably not.

SPEAKER_02 42:34

Okay, so you're a yay and an A.

SPEAKER_03 42:36

Yeah. Jade is also a resident mortgage broker and also our resident fence sitter. It's only because, Jade, I I actually love your insights and I know we put you on the spot quite a bit, and I actually do take a lot away from what you say, but it's so hard to predict. So I don't blame you for having those splints up your ass because it is so hard to predict at times. Um had it's been like, it's gone through the roof, you know, we're going to the moon, and then interest rates come in. Like, where did that come from? So I don't like I don't blame you for having that kind of outlook, and it's it's tough. And to be honest, the only reason I grill you is because I'm too chicken to say it. So I get you to say it instead. Um but give us your like give us your um your final comments uh in terms of financial year. What's gonna happen in the 26-27 financial year in terms of property prices, Jade?

SPEAKER_00 43:25

Property prices, I think we're going to see them drop around, say, but I think it will only be around five percent, five to potentially 10%. And is that nationally?

SPEAKER_03 43:37

Yep.

SPEAKER_00 43:37

Yeah. But I think there'll be markets within markets. For example, I don't think we'll see a huge drop out in, say, Cranberne, Pakenham, where you guys are, but I think the drop the decrease will be more significant in, you know, Brighton and closer to the city, those higher value properties. Um, in regards to interest rates, I don't know if We could call it a prediction or a wish. Um, but I would honestly like to see them on hold for the rest of the year because I think on hold means that we're heading in the right direction. If they are any, if there's any significant drops in the interest rates, it's because things have really turned to shit.

SPEAKER_04 44:22

Yeah.

SPEAKER_00 44:22

So for it to just stay as it is for the next couple of months, I would be happy.

SPEAKER_03 44:30

Tell Trump to get his dirty fingers out of Middle East.

SPEAKER_00 44:33

I think he has, hasn't he?

SPEAKER_03 44:34

Wow, kind of, yes and no. It's kind of funny. I love watching that whole scenario play out. Jade, thank you very much for joining us. Um, been a pleasure once again. See you in a fortnight.

SPEAKER_02 44:45

Thank you. Thank you. See you.

SPEAKER_03 44:47

So we're meant to go to a break, but then Craig, our fiddle's producer, said, no break. What am I paying you boys for? Get back out there. I got seven more minutes. Anyway, I actually did want to ask you, Frank, um what's what's your involvement with real estate agents and what ones do you like working with? Like what type of real estate agents?

SPEAKER_01 45:06

I don't deal with anyone anymore, to be honest. You don't. No, my I got my my team, my buyers' agents, I've got three buyers' agents.

SPEAKER_03 45:13

Okay, let me rephrase it then. What is the fascination behind off market?

SPEAKER_01 45:18

With advocates.

SPEAKER_03 45:19

Yeah.

SPEAKER_01 45:20

I don't know. I we're we're of the view, I don't think off-market is as great as what people say it is these days. Because you can overpay now. 100%. And they just go and they start fishing these prices and they they're giving it to their whole list. Sometimes I get an off-market deal and I still get taxed into the email for it. There's like 50 buys agents in there. Yeah. So it's I don't I don't mini auction. Yeah, I don't rate it. So it's times that it might be beneficial, but you just got to value the property correctly. Like if you don't appraise it right, then you can be overpaying.

SPEAKER_02 45:47

Yeah. Yeah, because a lot of people send a I mean a WhatsApp, you're on the WhatsApp too. And people say strictly off market. I'm like, sometimes I'll pitch for off-market for a client and say, let's try for higher. Like they might want seven, let's go off market for 730. And then it's not worth that. But we give it a very hot crack and then you get offers, and you're like, oh well, buy advocates will pay it. So yeah, take advantage.

SPEAKER_01 46:10

Especially ones that aren't experienced. I see I find that so often.

SPEAKER_03 46:13

They're just overpaying for a property, and it's just like because they can say to their client, oh, I've got this off market. And they use the word secure, by the way. We secured this off market. It sounds, it sounds glamorous.

SPEAKER_01 46:23

It does, doesn't it?

SPEAKER_03 46:24

But maybe in real terms, financially, potentially not as good.

SPEAKER_01 46:28

Nah, no, definitely not. So we we just we look at both. You just gotta do your DD. It's like you guys as well. You get a property, you don't want to overput it on the market, and it sits there stale and you don't sell it, and then you have to drop it and it just looks bad. Yeah, 100%.

SPEAKER_03 46:41

I've said to my buyers' agents that I've worked with in the past, if you don't look at my on-market stuff, I won't send you my off-market stuff.

SPEAKER_02 46:48

Toxic.

SPEAKER_03 46:49

Toxic, is it? I feel like it's fair. Um because I actually think that on market, I mean, things have been sitting there for weeks, months. Yeah. And so it's not like, I mean, if you want to go in lower and get a good deal, fine, go for it. Um, but why would you ignore it?

SPEAKER_02 47:02

With negotiation tactic, right? It's been on the market for 49 days, yeah. Exactly. I'm gonna offer you from the start, probably under the asking price if I was an advocate. Yeah. Um, but how do you know with off-market? Like it could have been off market for three months, but you don't know.

SPEAKER_01 47:15

Yeah, correct. Do you guys like dealing with B B's agents? Love them.

SPEAKER_02 47:18

Yeah, like the one I mentioned before, like I deal with her all the time. I don't really have a relationship with any other ones, to be honest with you. Um, because she yeah, she's up front and if she doesn't she doesn't uh like um was it run me up the garden path? Is that the right saying?

SPEAKER_03 47:33

Yeah, we'll go with it.

SPEAKER_02 47:34

Yeah, um yeah, so she just tells me no. Like I'm like fucking no again, no, no, no. But when she's yes, I'm like, well, good ching. Yeah, um, she'll buy it.

SPEAKER_03 47:41

I love it. Yep, absolutely do. Um, especially the volume that we're doing. Um, I have two uh personal assistants that just work with buyers and buyers' agents. We actually went up to Sydney for six weeks ago and we met with six buyers' agents, um, and we literally have a folder of all the stuff that we've got off market and a folder with all the stuff we've got on market, and we're like, what do you guys want? And um, and they've got you know lists of clients like we'll take that, we'll take that, we'll take that, we'll take that. Fantastic. It's like going shopping. Yeah, I bloody love it. Yeah, like honestly, we we we cleared so many properties just by doing that, and it literally was like just walking into a Woolworths or a coals and just taking them this off the shelf, this off the shelf, this off the shelf. Shell and bees. Yeah, a hundred percent. So I I love it. Um, Frank, and from a personal perspective, I'm happy to come out to Airport West and do the same thing with you 100%. Um, I don't know where Airport West is. I'm assuming it's out near Telemarine. I said it, yeah, right next to it. Yeah, perfect. Oh next time I go and just say I'll pop by say hello.

SPEAKER_01 48:41

Head in there.

SPEAKER_03 48:43

So most of your buyers are they investors at the moment, or you've seen a bit of a mixed up massive drop in investors, except for the last week, but I actually had the numbers, ah shit, where were they? It was 710 or something, man. Yeah, we had over 200 open for sorry uh attendees that are open for inspections over three and a half week period, uh, and less than 10 of those were investors. I think it was nine in the end. It's crazy was investors. I I have it written down. So yeah, literally it was like we went from 30% in or 35% invested to owner occupiers to less than two percent.

unknown 49:20

That's crazy.

SPEAKER_01 49:25

Yeah, a little bit.

SPEAKER_03 49:26

Yeah, first home buyers, I think, are the core of the market, and then the investors is a the icing. So I think when the investors feel that market, that's when the prices increase. I think our market will forever remain like your six, seven, eight hundred kind of market because the first home buyers affordability, which is why I'm so blessed. I know you are Brent, to be in this area. Uh, but when the investors jump on, that's when the prices go up. So I look at what the federal government has done, Frank, and I think look, it probably is the right policy. I was listening to the CBA boss, and he's like, I don't like it, but I think it's the right thing to do. And as much as I hate it because it impacts me and my family, I think it is the right move. Uh, but first home buyers are very much still buying out where we are.

SPEAKER_01 50:10

Yeah.

SPEAKER_03 50:10

Do you do much with first home buyers or is it mostly investors? All investors. Is that a decision that you've made intentionally?

SPEAKER_01 50:15

Yeah. Yeah. We're not I'm not advocate of buying my own home. So I'm you know, I'm a rent fester and I I'd rather put my money to work. So and it's just something that we're passionate about. It would be a disservice if I wasn't passionate of buying someone's home and just taking their money and trying to get them a dead dream home, if that makes sense.

SPEAKER_02 50:31

Um, yeah, good point. The one thing that I we need to get, do you have a BDM for packing them? You obviously would. So BDM's a business development manager who uh lists everyone's rental properties um for rent. How many BDMs do you have in your office? Two. Can we get we should get them on the podcast? Because I think that job at the moment would be very, very stressful and hard because there's not a lot of investors out there, and all the investors that they come across will be shopping around agencies, and because there's such minimal investors, everyone will be gouging prices.

SPEAKER_03 51:01

Yes and no, but there's still a very strong contingent of investors that are currently holding property.

SPEAKER_02 51:06

That's what I mean. Yeah, like but that they'll be shopping around and on fees. Possibly. I mean, service, I guess.

SPEAKER_03 51:14

Yeah, maybe. Um anyway, Frank, thank you so much for joining us, man. Um, it's been an absolute pleasure having you on the potty, our potty. I've got to start listening to yours. In fact, in general, I have to start listening to more. I will, I promise you, by the time I come to Airport West in four weeks' time, I'll listen to one of your podcasts. And ours? No, I'm not listening to ours, but I'm here. I don't need to re-listen to very much. I'll hold you accountable then. All right, done. Look, thank you so much, man. And if you are an investor that's jumping on this or not, potentially just someone that wants a bit more information because they're thinking about it, then certainly reach out to Frank. Um, name of the company again?

SPEAKER_01 51:47

Fresh Start Advisory.

SPEAKER_03 51:49

Instagram handle?

SPEAKER_01 51:50

Uh fresh start underscore advisory.

SPEAKER_03 51:52

Yeah, hit him up. And if you've got any questions, he's very knowledgeable, and you just jump on his reels and you can see it for yourself. But thank you so much, dude, for jumping on.

SPEAKER_02 52:01

Thanks for having me. I appreciate it. Thank you.