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Podcast – Stock Investing Using No Cash

Stefan Angelini is Joined by Nathan Free of BELL Securities to discuss how you can start a share portfolio using NO CASH. Not only this, but a strategy that ensures you lose no money from your stock and equity investments. This is an investment strategy normally reserved for executives, high income earners and those who want a stock portfolio with a little less risk than normal.


Stefan Angelini

Hey there welcome to another episode of the Investor Types podcasts what we're talking about today is we're talking about investing into property if you're a property lover you might know that your typical property that people buy it's it's a house and might think of buying a house don't think about the holding cost especially when you're talking about inner city and inner city close the inner city of Melbourne and Sydney and things like that whom with today is Justin from IP IPB property broker so Justin Dunne has found what he thinks is the perfect little bit of stock what we see is inner city suburb townhouses and units things are focused on generating a bit more of a capital growth for the so for those people that love a property investment don't want the growth but also want the income that comes along with it one thing a lot of people don't know about Justin is probably the best buyers are the best looking buyers advocate out there


Justin Dunne

Off sure


Stefan Angelini

Yeah 100% one of the other ones honor that used to be a stripper so it takes a lot of work to keep up the brains to make sure you find the best property but also just came up keep up

the reek


Justin Dunne

Okay healthy mind


Stefan Angelini

Not strip anymore


Justin Dunne

No back in the day


Stefan Angelini

Whatever you do for liberty cash


Justin Dunne

Yeah

Stefan Angelini

So tell me these tell me a bit about these properties that you look for and who the kind of investor that you think these are best suited towards


Justin Dunne

Sure okay and a lot of people when they started out buying property they want to they want to start small and we always advise people sometimes going to the next level is gonna provide a better financial outcome for them long-term so we like to meet investors who own a property own home you know they've got good incomes they've got solid equity the property they can borrow against so there might speak to a mortgage broker who says you can spend up to a million dollars and we usually say look we like to advise people to spend between 700 and 900 thousand on a good investment property yeah and for us a good investment property is something on the unit you know north side of Melbourne is a three-bedroom two-bathroom townhouse with off street parking a courtyard that you're gonna probably pick up between eight and nine hundred thousand dollars for something like that depending which area you're in and probably get it rent for about seven hundred and fifty dollars a week so the I think that we're aiming for when we're buying these properties is capital growth and increasing rental return and renewal holding cost to the land which we obviously want capital growth we want to grow your wealth you want the increasing rental return so that over time the liability for the landlord between the mortgage and rent each week is diminishing


Stefan Angelini

Yeap


Justin Dunne

And over I’m gonna try to solve


Stefan Angelini

And you want make sure that it's growing over time


Justin Dunne

It’s a yeah in a minute the whole cost from the outset is minimal


Stefan Angelini

Yeah


Justin Dunne

So we can buy properties at the moment the you know costing as little as fifty dollars a week in high-growth areas of Melbourne


Stefan Angelini

And that's where everyone makes their money everyone makes their money because they hold onto a property for the long term it grows by five to seven percent per year


Justin Dunne

Yeah


Stefan Angelini

That just grows on itself but if what people lose out is that they forget how much it actually costs to run a property


Justin Dunne

Yeah


Stefan Angelini

And if you've got an investment people normally think that but the interest cost of one mortgage and then I've got the rent that's coming and they're gonna be equal each other


Justin Dunne

Yeah


Stefan Angelini

But they forget about land tax they forget about maybe everybody corporate that might come into it yeah all the extra holding costs and maintenance on a property


Justin Dunne

Yeap


Stefan Angelini

So when you look at these lines what's the difference between buying new buying old what do you like to prefer


Justin Dunne

We we prefer to buy establish real estate we find new real estates like buying new car we might go out there and you could spend seven hundred thousand dollars on a new apartment in Richmond which means a great area so people think I'm buying in the right area so I'll just get an apartment


Stefan Angelini

Yeah


Justin Dunne

And that's going to serve me well in the long term and there's three things this right property right area and this right price so that one you might find you in the right area where you haven't quite got the right property and you're not paying the right price because you're paying market price plus the developers profit which is the new car premium


Stefan Angelini

Yeah


Justin Dunne

So if you're buying established property you could buy one of those apartments and you could take maybe seven or eight years for it to be worth what you've actually paid for it

while it goes through that price volatility its first simple years of life same as the townhouses that we buy we buy them when they're approaching five years of age because they do go through that price volatility in their first five years of their life so you can buy it at the three or four year mark pretty much within twelve months you're going to start to get capital growth in those sorts of companies


Stefan Angelini

Okay at least you've bought for 4 to 5 year market they would still benefit from getting a little bit of depreciation taken claim so if they are on higher incomes

Justin Dunne

Yeap


Stefan Angelini

They might be if they're able to buy something that


Justin Dunne

Investment cost is always gonna be there


Stefan Angelini

Yeah that's right


Justin Dunne

You fixtures and things inside you're not gonna be able to depreciate as the second owner or if the first person is live there's been an owner occupier the first next person is investor I'm not sure if it's still available to them


Stefan Angelini

Yeah


Justin Dunne

But yeah there are opportunities there for therefore the building depreciation always


Stefan Angelini

The building depreciation is always there


Justin Dunne

Yeah and then one of the good things about buying one of those properties and letting it exists for a few years before you purchase it is you can do you know when you build a property you're in development you often find you can sometimes get a little great ones in a property so sometimes this rectification works and things like


Stefan Angelini

That's right


Justin Dunne

I've build single homes where I've had issues with the build custom homes and stuff like that and so when you get into these bigger projects it's gonna happen and if you're buying them a few days into their life the chances are that the prices have settled down but also those rectification works and also been fixed


Stefan Angelini

Yeah being take care of yeah yeah it's normal the first few years over properties when things might go wrong when people just move in


Justin Dunne

Yeah


Stefan Angelini

So you are I guess sort of a little bit against buying them off the plan because you're just sort of you're assessing it out to see if it is a good property if it will stay if it won't and if there's a reputable builder they might be building them you still sort of want look at them


Justin Dunne

I tend not so


Stefan Angelini

Yeah


Justin Dunne

I'd rather I'd rather wait till the price settles down a little bit


Stefan Angelini

Yeah okay


Justin Dunne

You know I wouldn't buy myself so I wouldn't recommend somebody else to buy


Stefan Angelini

And that's probably the biggest thing right


Justin Dunne

Yeah


Stefan Angelini

Why would you recommend someone buy something if you wouldn't do it yourself it's got our self in their shoes


Justin Dunne

Yeah


Stefan Angelini

That's hardness thing as as a business owner but also as an invest in yourself


Justin Dunne

Yeah


Stefan Angelini

You got to be willing to walk the climb through the journey and do things you want to do yourself so you buy this property but you also manage it


Justin Dunne

Yes


Stefan Angelini

A lot of it


Justin Dunne

Correct yes so we manage every property we buy


Stefan Angelini

Yeah okay so what sort of tenants do you find it typically come and rent these properties


Justin Dunne

Young professionals so we're focusing in the North in Melbourne it's a really popular area there's a lot of good infrastructure out there which attracts young people the disposable incomes


Stefan Angelini

Yeah


Justin Dunne

And I love them happy to pay a premium to live in the area with all the things close by to them that they want so you know bars, restaurants, cafes, gyms, bike trails or shop good shopping all that sort of stuff and we just find that that for us that's that's that part of town we mean in North Melbourne


Stefan Angelini

Yeah so young professionals low risk of them ever moving


Justin Dunne

Yeap so


Stefan Angelini

That's a biggest thing with the rent


Justin Dunne

One property that we rented recently was a three-bedroom townhouse three mid 30s girls all working in as health professionals I think one's a radiographer one was an Austrian one was a nurse they all known each other since then so but you know 10 or 15 year friendship they are all I mean good incomes and they're all still living that property


Stefan Angelini

Right


Justin Dunne

So that's it that's an ideal sort of outcome for us


Stefan Angelini

Yeah and yeap I guess you could pick it use that one of them did move out as as a collective they probably come together and one get someone to fill that in


Justin Dunne

Yeah exactly


Stefan Angelini

To fill that room but they'd be able to sort that themselves


Justin Dunne

Open so we can't low turnover with those properties because they find that when they go when we rent those sorts of properties out we've got up to 15 sets of applications so if they give that property up they've gotta go then find and then go and find another property and probably face another 10 or 15 applications for that sort of a property


Stefan Angelini

And when you're trying to rent out these properties how many applicants would you get on average cause I know it's a really hot market


Justin Dunne

Anywhere from 6 to 15


Stefan Angelini

So you could have choice


Justin Dunne

On property yeah so they're quite spacious properties that we like they've got an outdoor area and they've usually got one or two a car parks off the street so someone parks in the street someone may not even have a car often find two or three people got cars at a time these days particularly if they're working on that side of town in a hospital or something like we just talked about there the need for that sort of thing is your car over bikes there


Stefan Angelini

That's right everyone loves their bikes


Justin Dunne

Yeah


Stefan Angelini

And so you said before that you prefer people push up their purchased range for their first investment property to be between 700 to 900


Justin Dunne

Yes


Stefan Angelini

Thousand dollars


Justin Dunne

Yeap


Stefan Angelini

As opposed to the average person at might search their first investment property might search between 400 to 500


Justin Dunne

A lot of people come to us saying they want to spend between 5 and 550


Stefan Angelini

Yeah


Justin Dunne

And then I have that talk with them we've got a property investment analysis program which I can show you the difference in capital growth holding cost regular receive purchase price between say our two-bedroom apartment and three-bedroom two-bathroom townhouse if

you're one of those people who are just borrowing from the equity that they already have they're not actually sticking their hand in the pocket for a deposit


Stefan Angelini

Yeah


Justin Dunne

The only thing you know you're having to focus on in relation to the investment is how much

capital growth is it going to get and how much am I going to put into it each week so on a on a townhouse like that you could be paying lets' say seventy dollars a week if you go out there and buy a two-bedroom apartment between five and five hundred and fifty you could be paying over $100 a week and in fact some cases a hundred thirty a hundred fifty dollars a week out of your own money to support that and and you're not going to get as good capital growth at the same time that's right and it especially buy into an apartment for your corporate costs make up such a big portion while you're on the holding cost are you might want might want apartment building you might have this four to ten thousand dollars a year


Stefan Angelini

Yeah but I could imagine these in these townhouse projects or developments they want it to be a lot smaller do you find the only


Justin Dunne

Yeah


Stefan Angelini

Those as a corporation cost


Justin Dunne

About a thousand dollars a year sometimes


Stefan Angelini

That's cheap


Justin Dunne

Yeah


Stefan Angelini

And then includes insurances


Justin Dunne

Yeah


Stefan Angelini

They do include insurance mobility


Justin Dunne

Yeah well some of the townhouses that we buy this quite a few developments in North Melbourne in Brunswick or places like that where they're quite big clusters they might have 40 or 50 townhouses in them and their actual individual stripes there's known as corporation costs


Stefan Angelini

There are home


Justin Dunne

Yeah


Stefan Angelini

They just classified as town house


Justin Dunne

In Australia


Stefan Angelini

Yeah I love this


Justin Dunne

It's like a little muse stone village


Stefan Angelini

Yeah


Justin Dunne

Yeah


Stefan Angelini

If either do one of them in the future one day


Justin Dunne

Yeah


Stefan Angelini

goals and inspiration


Justin Dunne

To build


Stefan Angelini

To do one of them


Justin Dunne

Yeah yeah yeah


Stefan Angelini

Have 50 townhouses ideal location people actually want to come in and go I want one of these cause they're beautiful this will form


Justin Dunne

Yeah


Stefan Angelini

It become a nice little village


Justin Dunne

Several of them around the Geelong this is fabric which is not launder excited Brunswick there's the Brickworks development in Dawson Street which was the old Hoffman's Brickworks


Stefan Angelini

Yeah


Justin Dunne

There's the Willow called SE site in near North Melbourne there were which is just near in the hospital


Stefan Angelini

Yeah


Justin Dunne

I mean that little precinct there so there's a lot of that sort of stuff around


Stefan Angelini

So you've been in the game for a long time


Justin Dunne

I've been an advocate for 16 years


Stefan Angelini

Yeah


Justin Dunne

And I was in real estate sales for 12 years before that


Stefan Angelini

Okay you've seen a bit


Justin Dunne

Yeah


Stefan Angelini

Tell me about these kinds of properties you buy what are some of the horror stories that you've seen or horror stories that's happened to you when buying these kinds of properties and even none here any kind of property


Justin Dunne

Okay so I haven't had any horror stories from buying townhouses and and good product that we recommend I've heard horror stories from people buying apartments


Stefan Angelini

Yeah


Justin Dunne

There's been lots of issues where they've owned it and then the property a similar property in the same building sales for a one hundred and fifty thousand dollars less in a couple of years of your ownership some of it horror stories stories I've heard people buying student accommodation at inflated prices under under hot from high-pressure sales people where they have got a very small purchase price maybe two hundred and eighty thousand or something like this this is several years ago and you know before long the property is worth a hundred ten a hundred thirty thousand dollars they still haven't gotten all those sorts of things


Stefan Angelini

Right


Justin Dunne

It's too small too many in the block and things like that you just want to avoid those sorts of things


Stefan Angelini

Okay


Justin Dunne

But yeah look I haven't heard even had issues of people with buying houses


Stefan Angelini

Yeah


Justin Dunne

Haven't heard issues with people buying townhouses it's mainly some of the struggles that pitfalls come along with a lot of time


Stefan Angelini

Yeah you see


Justin Dunne

Bigger multi-story buildings


Stefan Angelini

Yeah so you've seen a bit and you just started in sale obviously with sales you're

acting for the vendor trying to get there the best price


Justin Dunne

Correct


Stefan Angelini

When did you make the transition why did you make the transition to become an advocate and searching for I do properties with people


Justin Dunne

Yeah look I left real estate sales and just wanted to try something different and discovered buyers advocacy I had a small student in that before I actually something disrupted there which was a court case for defamation so I went back to real estate sales after that was like what was quite angry with an auctioneer I was doing the wrong thing at the time just doing the whole dummy beating which was quite cushy back then and and so I went back to real estate sales spent four years doing that just got to depressed and hated it


Stefan Angelini

Yeah


Justin Dunne

And then one day I woke up and thought buyers's advocacy is what I wanna do what I really like it's a good way I think a lot of people are lambs to the slaughter out there when they come to dealing with a highly skill professional real estate agent I would say professional probably wrong word highly-skilled agent


Stefan Angelini

Yeah


Justin Dunne

You know they're great and look the thing is that you learn from doing real estate sales is there's no new tricks and in real estate everything is the same but unfortunately most people are unaware of what they are


Stefan Angelini

Yeah


Justin Dunne

Yeah we can help people negotiate that that because I've been in that seat before for 12 years


Stefan Angelini

Yeah


Justin Dunne

Got lots of experience as I say there's new tricks I've seen and heard them all before and we've got relationships with real estate agents so but the time now will extend you or I call professional courtesy when it comes to a sale or negotiation that will need getting you and your client into the box safe cause the chances are there there's a hundred times more likely they're bigger a deal with us again and they are many of street


Stefan Angelini

Yeah that's right so they gonna be good to you


Justin Dunne

Yeah


Stefan Angelini

So given these all these lessons you've learned what would you say what would you give out as advices or some of the key lessons things for people to look out for when they're going to buy them the investment property


Justin Dunne

Research do research you know first of all you're going to do your research on the product that you're buying so if you are buying into an apartment building research pros and cons of buying into a buying new property versus buying established property and then Google's an amazing tool that's so it's exactly fingertips


Stefan Angelini

That's right yeah so many different magazines you can look up in this analysis I mean sometimes


Justin Dunne

And sometimes they it can be confusing or they're listening to so many opinions and things but you do get the general feel of what's good to get into and what's not good to get into from doing that small amount of research um my suggestion to people is do your research in relation to pros and cons of what you're looking at purchasing and go out there do a lot of research on price don't feel pressured into making a decision quickly and and paying to a higher price for something if you're not comfortable with it we always find that with our clients that because we're searching so much and when you are searching you know you've got a really hammer you've got to treat searching for property to buy like a full-time job if you want to be successful at it if you don't want to let those bargains those really good value properties slip through the cracks you've got to be hammering at full time like a full-time job and that's where people don't they're not successful it takes them 12 months to be successful in a rising market it will cost you a lot of money it's because they're not out there take a weekend off they take a few weeks off I'll give it a rest this week we're sick and tired of it all going out said I don't know if I'll and got a hangover that day we we didn't make it out to those three properties and we should have go to an auction and looked up the results on the Monday we felt it went for below what we've made to pay for all those sorts of things


Stefan Angelini

Emotions have not been able to find a property


Justin Dunne

Yeah yeah


Stefan Angelini

You're going to search for it for 10 to 12 weeks


Justin Dunne

The best advice I can give would give you is is get yourself buyers advocate


Stefan Angelini

Yeah


Justin Dunne

Yeah that's maybe somebody else


Stefan Angelini

Yeah that's right


Justin Dunne

Some advisor are great some aren't so great some will buy you a property at all costs which may not be the right thing for you to do you really want to make sure that you've got somebody who and word of mouth is a really good way of finding that sort of person somebody that had a good experience in the past and just making sure that you know they can validate what they're recommending you to buy and why you know if they are recommending you to buy a brand new property why are they doing that you know what's the reason you've got to make sure that the person who is representing you you're the one who's paying them and that's the key to it if you're not the one who's paying them if you've got somebody who's an investment adviser opposing this buyers's advocate and they're working for a developer selling stock and trying to tell you how great this stuff is


Stefan Angelini

Yeap


Justin Dunne

They're not going to be looking after your best interests


Stefan Angelini

That's right I think a lot of people forget about how big of a capital injection or a commitment is it buying a property


Justin Dunne

Yeah


Stefan Angelini

We got this thing that property just keeps going up over time but


Justin Dunne

Yeah


Stefan Angelini

Don't forget you're getting into debt with a bank for a big debt and if you don't buy the property for the right amount you're holding on to this stock and you're not gonna make any money for ten years but where's the point


Justin Dunne

What's the point in owning it if it doesn't achieve you good strong consistent capital growth


Stefan Angelini

Yeah


Justin Dunne

From the outset


Stefan Angelini

Yeah


Justin Dunne

You know a lot of people will advise buying the newest stuff and there are so as you hear somebody saying all that think long term that's great but that usually means you're not going to make money from that first five or eight years like I told you that you want to buy a property and you want to be able to look at it in 12 months do some research like what we do with that lives we jump on the sales database six months twelve months every six months after we've purchased it for them and we send them sales data of competing properties that sold it as similar to theirs they've got higher prices so they can say this is the growth you've made this is what the investment in our services has gained you


Stefan Angelini

Yeah


Justin Dunne

By making that good decision


Stefan Angelini

And then that's where you don't see a lot in the market so we do that on a daily basis when someone let say and some gets an inheritance or they've got a pay out and they saved a lot of money and then go look I've got a lot of money you've got a hundred thousand a million dollars money I want to invest I don't know where to invest it they come to someone like me and we might allocate between shares of properties and things like that but for some reason here when they go to wanting to buy a property they want to or all themselves such a big capital investment


Justin Dunne

Yeah


Stefan Angelini

No one ever tells you about the performance which is we've got access to it on a daily basis but their daily reporting on a property is always there anyone access to that information


Justin Dunne

The sales data yeah from the industry database so the REIV there's two too many database sources is the REIV


Stefan Angelini

Yeap


Justin Dunne

And then there's RP data so it's owned by real estate.com


Stefan Angelini

Yeap


Justin Dunne

We we've always been with the REIV property data online system we changed a couple

of years ago to RP data and we found it wasn't as good it's great for salespeople who want to do CMA for to go into a listing presentation but just to pull out individual sales of directly comparable properties so when you when you know it's like doing it an online generated things for the ANZ or something like that you can type in I want three-bedroom houses in this Southern I'll give you renovated versus on a renovated or so that's so general that then computer doesn't know which property you're talking about they don't count register that so you need somebody's brain and a person to inspect the property to work at what you

comparing against and they're give you a range and you look I'm gonna see real estate.com at the moment and you'll see the range of this property is between 700 and 900 and fifty thousand now that's pretty general how do you know that they'll do you pick the middle mark probably not the best way to go


Stefan Angelini

Yeah


Justin Dunne

So what we do is we go into the database and I'm sort of done done gracing here but the database that we use now they are REIV database we'll go into that more to speak out

directly comparable sales


Stefan Angelini

Yeah


Justin Dunne

And then print those out and then sit down in front of clients and run through them these are the properties that have solved that as similar to yours in the last three months that's a rising market we didn't have to say to their client look you've also got a plan for the fact that the markets risen to be since then as well so you've got add maybe three to five percent to the price you know to be able to be competitive in the current market


Stefan Angelini

Yeap


Justin Dunne

So yeah so we use we use the REIV we use RP data and as I say it's good for real estate sales people not as good for us if we're trying to identify specifically relatable properties to compare against compare what I call it as a recent local comparable data


Stefan Angelini

Yeah lovely so what I love about talking to you figuring out how you find certain properties because what you're looking for they're not always on the market the kind of property you want these it always there


Justin Dunne

Yeap


Stefan Angelini

What are some of your tips on how you find the ideal property once you've done your research you've identified where you want to buy where you want to buy what the ideal I guess property is to


Justin Dunne

Yeap


Stefan Angelini

Purchase


Justin Dunne

Yeap


Stefan Angelini

You get identified your specific in each how do you go how do go about finding it


Justin Dunne

Okay there's three ways that we find property the same way everybody does we use the internet real estate.com and domain you don't need any other websites apart from that real

estate view is just really the industry tracker site that's owned by the AARP so we register on their with their property alerts for the clients specific criteria wait for things to pop up on the

internet so research through those we then have used our relationships with real estate agents to try and uncover off market properties off market properties are great and everyone thinks I'll that's them that's where the gold is and it is if you've got the right place


Stefan Angelini

What is off market property


Justin Dunne

So something that a real estate agent has the opportunity to sell


Stefan Angelini

Yeap


Justin Dunne

And somebody's come to the message look we've bought we just want to buy a can you help us find a buyer for this property


Stefan Angelini

Yeap we want advertise we want marketing stay


Justin Dunne

Yeah they don't call that an off-market they say they call that on market because it's pretty find if not give exclusive access to it and it's not calling off market let's call it exclusive


Stefan Angelini

Yeah okay


Justin Dunne

Exclusive property through a real estate agent and our relationships helped to create that sort of stuff we've been doing that for the last 16 years and the third thing we do is we go there we'll do a letter box drop for the property so the moment I've got a young client he lives in Gisborne he's looking for a property he works in North Melbourne and one of the big track sites electrical contractor with the railways and goes around to different states doing things with that business he said to me I want to be in Kensington in the stockyards development which is near his work he wants to be close to drive time and driving to North Melbourne from Kensington a 45 minute drive so I said to him look there's another development here and ask if I'll call the old client who move that development which is a few years old coming up coming up a driveway in that see what you think so he said you know I like it so I've got a letterbox drops to that development complete development twice first time I've got one call the second time over another call so taking him to the first one liked it but the owner wanted probably a 150 to 200 thousand dollars more than what it's worth


Stefan Angelini

Yeah


Justin Dunne

So I said no thank you while we went to the other day the owners more realistic with prices

probably only 50 over so that's going to be what we can negotiate on he said yes to that we like it but then a real estate agent has also given me an off-market up around the corner which we're going to next Thursday so in that block we've got three opportunities all of them are off market two are found through a letterbox drop and one through a real estate agent so that's that's the basis their utopia situation that we like to create


Stefan Angelini

Yeah


Justin Dunne

It's a competitive market out there an option so if we can avoid finding properties that are you know generated competition by the real estate agent and the internet that's a great situation of the clients


Stefan Angelini

Opportunities by real estate.com


Justin Dunne

Yeah usually means if a person is willing to do that through a real estate agent you're a motivated seller for years and is a good opportunity negotiate good result


Stefan Angelini

Yeah a hundred percent so I've got some real gems so before getting to purchasing property do you research


Justin Dunne

Yeap


Stefan Angelini

Don't get sucked in by a real estate agent and hire buyer's agent buyer's advocate you can pay for one yeah


Justin Dunne

Invest in this services


Stefan Angelini

Let's say people want to get into their first investment property what is some advice you've got for them in terms of cash flow in debt projecting what they're going to be doing in the future all that kind of advice


Justin Dunne

Yeah look at you know one of the things that we use for with client before they we enter into negotiations is what I call property investment analysis


Stefan Angelini

Yeah


Justin Dunne

It's a computer program which you plug into all the details about the purchase people can buy from seller soft financial services in the Queensland it's five hundred dollars you just pay for updates when this changes to tax lawyers and then ranks and all that sort of stuff you plug in all the details that purchase cost the ongoing cost it's going to CPR in there and it tells you exactly down the bottom of how much a property's gonna cost that invests it to hold so the next ten years


Stefan Angelini

Yeah


Justin Dunne

So it's a $72 a week if you go for seventy two dollars a week and that's the purchase price you're willing to go so and tried negotiate up to or below that price and maybe people know that price it's going to be a better outcome from that seventy two dollars and so if you can get hold of something like that it's a really great way of going into a situation with their own more fully researched making sure that it's something that's achievable it's not going to pinch in your lifestyle too much you still want do do other things don't go in too small when you're buying a property go don't be afraid of spending a little bit more because it's going to usually be less of a whole cost


Stefan Angelini

Yeap


Justin Dunne

And a better financial return of capital growth


Stefan Angelini

High quality


Justin Dunne

High quality property company if you can't buy 1 bedroom apartment chances are in ten years time you may have made ten percent


Stefan Angelini

Yeah there you go folks do your research make sure you know how much you're going to be spending on a weekly or even monthly basis make sure you can afford it and most importantly don't be sure to get if you're in position where you can do it you keep holding on you're never really gonna start growing your wealth even from the start


Justin Dunne

Yeah


Stefan Angelini

As long as you don't overpay


Justin Dunne

Yeap that's right


Stefan Angelini

So for all you for you people out there who might have a bit of equity in their home done a really good job of starting to pay it off you looking for that next journey that next investment property you want to be motivated by having the high income but also capital growth property speaking to someone like Justin or going to look for this kind of stuff might be really right for you so inside that mate thanks a lot for uncovering all those gems and for giving us all that advice really appreciate it


Justin Dunne

Thank you


Stefan Angelini

if you've got any comments about what we chatted about feel free to comment on the links below I'll reach out to one of us thanks a lot for listening I look forward to seeing you on the next episode




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