June 3, 2026

Stop, Don't Sign That! What Every Retiree Must Know Before Buying Investment Property

Stop, Don't Sign That! What Every Retiree Must Know Before Buying Investment Property
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Season 2

Thinking about adding real estate to your retirement strategy? Before you do anything, listen to this first. Guest Hadley Nightingale reveals the hidden mistakes that cost investors thousands — and the simple steps that protect your money and your peace of mind. Avoid the traps that derail retirement wealth because this conversation will change how you think about real estate as an investment.

Ask Good Questions is broadcast live Wednesdays at 6PM ET on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Ask Good Questions is viewed on Talk 4 TV (www.talk4tv.com).

Ask Good Questions Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

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WEBVTT

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The topics and opinions expressed in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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products mentioned on air or on our web. No liability

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explicitor implies shall be extended to W FOURCY Radio or

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it's employees are affiliates. Any questions or comments should be

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directed to those show hosts. Thank you for choosing W

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FOURCY Radio.

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Welcome to to Ask Good Questions Podcasts, broadcasting live every Wednesday,

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six pm Eastern Time on W four CY Radio at

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W four cy dot com. This week and every week,

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we will reach for a higher purpose in money and light,

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as well as a focus on health and wellness. Now,

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let's join your host, but Nita bell Anderson, as together

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we start with Asking Good Questions.

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Welcome to the Ask Good Questions podcast. I'm your host,

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Benita bell Anderson, and today we're talking about real estate

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as part of a retirement investment strategy. Okay, so the

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question isn't just should you do it, but it's how

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to do it without making any mistakes? We don't want

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to do that. So my guest today comes from the

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other side of the world. He's helped one hundred plus

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investors do exactly that, not make costly mistakes, and he

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is actually in New Zealand. I would like to invite

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Hadley Nightingale to the podcast stage.

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Hi, Benita, thanks for having me. Good morning, oh good evening.

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Were you are.

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Yeah, I know I was a little bit when we

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first talked. I was a little bit worried about, you know,

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because I think you're twenty two hours ahead of me.

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Yeah. So yeah. The next day, yeah, so it was.

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Like whoof So okay, well great, it'll all the technology

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lined up. So let me tell you a little bit

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about this boy. He's just a few years younger than me.

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His name is Hatley Nightingale. He's the CEO of New

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Zealand Property Buyers, which was founded in twenty twenty. Great

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year to found a company.

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Hatley forget to start things right. Couldn't have lined it up.

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So in just five years, five plus years, he has

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grown from a two person operation to a team of thirteen.

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Is that still correct? Thirteen?

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Yeah, still correct. Yeah.

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He's helped over one hundred clients invests smarter across New Zealand.

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But get this Southeast Asia interesting. But what makes him

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different is not only the results, but how he got there.

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So I want to find so Hatley, you drove road trains.

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What's a road train?

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Road train is a truck with three or four trailers.

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In Australia, they I can only talk in metric tons

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rather than imperial so they weighed somewhere between one hundred

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and twenty and one hundred and seventy ton, which has

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gone down the road at one hundred ks.

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Now, so I guess we would say truck drive truck

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is what mirror?

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Yeah? Yeah, with with with four trailers rather than one?

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Wow? Is that legal?

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Yeah?

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Yeah, yeah, it's a it's a big it's a big thing.

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But mind you, like we're in the middle of nowhere

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doing it. It's not not the middle of regional like

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not the middle of a city.

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So he's also worked mines in Western Australia. He spent

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seven years in the family court system, building one of

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New Zealand's most respected buyers agencies, and he learned proper

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already investing the hard way, which I'm sad to say,

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I've learned a lot of things the hard way as well.

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But basically what that means is that his clients don't

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have to so welcome to ask good questions, Hadley.

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Thanks too. They're looking forward to the conversation today.

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So you didn't come from finance obviously, right, I mean

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you drove, you drove truck, you worked mines, And how

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in the world did you end up in real estate?

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Yeah, I suppose when I was when I left school,

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I was going to become a farmer. And well I

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went farming for a couple of years, and it was

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around the seven eight or six seven period, and then

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at the time everyone was talking about, hey, look the

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markets as high as it's ever been.

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It's not going to get me higher than not producing

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any more land. Get in now. If you don't get in,

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you'll naviget in.

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Which and now that I've been through a couple of cycles,

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it happens every cycle just before things seem to peak.

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And so that was what I got sucked into at

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the time. And at the time the banks were lending

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huge amounts of money as well. If you could fog

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a mirror, they'd give you a loan. And so I

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got my stuff caught up there, and that's how I

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ended up in the road train side of things. But

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at the same time, it was going people always make

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money in real estate. I've just I must have just

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done it the wrong way the first time around. So

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let's go and find someone that can help me. And

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that's that's sort of the short story of how I

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ended up there.

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Well, you've said something that I've also said too, and

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that's no one's coming to save me. Yeah, And so

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what was the moment think back? What was when was

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it that you knew that that was crystal clear for you?

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That was probably only three or four years ago. So

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I mean, like the yeah, the.

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The mining and the road trains thing happened because of

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the farming decision that I've made. Then twenty nineteen, I

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split with my partner at the time had eight month

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old daughter, and then that's still an ongoing through the

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family courts at the moment. But it really got to

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a point where I went, well, hey, look, I'm the

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only person that's been here the whole time through this,

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so I'm the only person that.

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Can get me out of this.

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You know, I was part of this relationship, so I'm

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probably fifty percent to blame, and so how do I

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reflect on that myself and then how do I make

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myself better to go in and do the things that

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I can control and the stuff that they can't.

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I'm just going to leave to the side and let that,

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let that run out.

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And I think once I sort of thought about that,

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and a big part of that was also my male

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wife going, well, look, we can keep dwelling all this.

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Stuff, we can move on.

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We've got a choice to make, which was extremely difficult

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at the time, but now looking back, was that was

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the simple thing to do that I should have done

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years prior.

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But you don't know what you don't know, right.

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Yeah, I learned a long time ago that I was

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that I'm one hundred percent responsible for my life. And

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it took me a while to really wrap myself around that.

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You know, that I couldn't blame anybody else, And.

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Yeah, the petty parties and the blaming other people's the

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easy part, right, because it can always be everyone else's.

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Fault and everyone else you know, why me, poor me?

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That shouldn't have happened to me, And the victim mentality

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is is rife, and it's the it's the easy way

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out rather than as you say, hey, look it's it's me.

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I'm I'm one hundred percent responsible for the place I've landed, Right, So.

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What did what do you think it was that? What

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was the personal struggle that you know, that that you

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that you realized, oh, I'm doing this wrong? What was

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it that the do you think that was the quote

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unquote wrong way to do things?

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From the real estate perspective?

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Yeah?

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Yeah, So, I mean basically, when I figured out that

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my philosophy had turned from buy some lands, sit on

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it and eventually it'll all work itself out to interest

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rates went through the roof, it got harder to get money,

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job market tightened up, and you know, I went, I

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had to go to Australia and my philosophy became if

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I can. At the time in New Zealand, I was

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doing thing thirteen dollars an hour, which was which is

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reasonable money. But I can go to Australia and twenty

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doing the same thing. So I thought, right, I've struck it.

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I've nearly doubled my income by shifting countries. So now

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all I need to do is stay awake for as

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long as I possibly can and drive for as long

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as I can because the longer I drive for, the

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more money I make, and in that way, that's going to.

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Get me out of the situation.

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But then I pretty quickly worked out that you can

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only do that for so long before your body says

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to you, Hey, look, this isn't this isn't smart. And

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I realized I was the only person that I knew

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that had real estate that was doing what I was doing.

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So there's if I'm the minority, there's got to be

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a better way to do this than the people I know.

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So how do I get myself around some people that

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they're going to show me how to do things a

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better way rather than just sticking to the blueprint that

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I've currently got.

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Well, there might be somebody that's thinking what is she

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doing talking to somebody that's in New Zealand. And basically,

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you know what when we originally met, was like, well,

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we're talking about principles. It doesn't matter where you live

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in the world. These principles that we're going to talk

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about today are universal and apply to no matter where

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you're investing. Right, Yeah, So let's let's get in a

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little bit too. If real estate is right for retirees,

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so let's have. Let's think of somebody that might be

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sixty plus and they already have a nast egg built

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and is it too late to add real estate to

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their portfolio? What do you think?

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I think it gets to a point where you've got

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to be really careful about what you're buying. That if

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you are going to go and do this in your sixties,

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that the real estate is not liquid like the shear

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market the stock market. You want to go and buying

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the video stairs, you go and buy them. You don't

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like what's happening, You push, sell, you get out of

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the market. The problem with real estate is that once

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you're re in, you're generally in for a long period

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of time. If you need to get out, you're looking

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at sort of ninety to about one hundred and twenty days.

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If everything just went snap of the fingers, listed the

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house today, got it on the market, sold the next day,

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you're looking at like it's three to four months around

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if you need your cash, and then it's a guess

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as to what that's what that's going to be. So

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if you if you've got some money that you aren't

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going to put into it, you see, if you're really

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selective about what you're buying, and you also need to

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make sure that you're not leveraging yourself, you know, to.

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A point where it's you know where it's dating and.

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They've done that.

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Yeah, it's I mean, leverage is great until you get

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yourself to a point where you're underwater and it's not

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quite so fun there.

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Well, well, what would you say, Well, like, I think

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maybe that answers the question of what makes real estate

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different from stocks and bonds is basically, you might be

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you might be stuck, and you don't want to have

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like a fire sale.

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No exactly.

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If I was advising someone, I would just say, have

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this be part of a total perspective that you're doing.

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Yeah, I mean, you don't want all your eggs and

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one basket and you don't want to turn into a

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fire south.

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I think that the key, the key part.

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With it is is like boring, boring tends to make

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your money sexy tends to cost you a small fortune,

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and that I think anyone that's selling you the best

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deal in the world, and this is how amazing it's

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going to be, and here's all the things that you're

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going to make from it. That the people that are

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selling it to you generally are the ones that make

229
00:12:22.200 --> 00:12:26.360
the money, not you like It's happened here with off

230
00:12:26.360 --> 00:12:29.000
the plan developments likely happens to the States as well.

231
00:12:29.039 --> 00:12:32.679
Where developers tell people about how phenomenal something's going to be,

232
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you get excited about it, you buy it, and then

233
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you find out that it's not as good as what

234
00:12:37.559 --> 00:12:38.240
they said it was.

235
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There's a slight change in the market. You're waiting two, three, four,

236
00:12:42.480 --> 00:12:43.759
five years.

237
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For something to be built, so your money is tied

238
00:12:45.360 --> 00:12:48.039
up for that period of time, and then the end

239
00:12:48.120 --> 00:12:50.840
results not as good as what was promised.

240
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To the start.

241
00:12:52.480 --> 00:12:57.360
What do you think how much capital should somebody realistically have?

242
00:12:58.240 --> 00:13:01.639
You know what they're saying, Oh, I've got X amount

243
00:13:01.679 --> 00:13:04.000
of dollars that I think I want to diversify into

244
00:13:04.720 --> 00:13:05.399
real estate.

245
00:13:06.759 --> 00:13:09.799
It's going to depend market to market as to where

246
00:13:09.840 --> 00:13:10.200
you are.

247
00:13:11.360 --> 00:13:13.600
I think if you are going to get into real estate.

248
00:13:13.679 --> 00:13:17.320
As part of your portfolio, where you are you want

249
00:13:17.320 --> 00:13:20.000
to be looking at and you're close to that retirement age,

250
00:13:20.159 --> 00:13:22.840
you want it leveraged as low as you possibly can

251
00:13:24.000 --> 00:13:26.200
aidle to make it hard for the bank to lend

252
00:13:26.240 --> 00:13:29.679
your money around it age unless you've got really good income,

253
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really good balance sheet.

254
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But secondly, it's more.

255
00:13:33.120 --> 00:13:35.759
So around if you can keep your leverage down so

256
00:13:35.799 --> 00:13:38.279
your cash flow positive as cashlow positive as you can

257
00:13:38.279 --> 00:13:40.679
possibly get it, then you're getting a return for your

258
00:13:40.720 --> 00:13:43.840
money and it takes it out of that weight and

259
00:13:43.919 --> 00:13:45.480
hope part of it too.

260
00:13:45.559 --> 00:13:48.480
So as you get onto the retirement side of.

261
00:13:48.440 --> 00:13:52.000
Things, cash flow becomes really important and the equity less so,

262
00:13:52.840 --> 00:13:55.840
but when you're younger, the equities where you grow your wealth,

263
00:13:56.759 --> 00:13:59.159
and though that reverses over over time.

264
00:14:00.159 --> 00:14:03.840
So let's chat a little bit about like buying property

265
00:14:03.960 --> 00:14:07.039
live in versus buying it as an investment. So one

266
00:14:07.080 --> 00:14:09.879
of the ways that I think has I've seen work

267
00:14:09.960 --> 00:14:14.320
well in the past is like a duplex. Yeah, and

268
00:14:15.080 --> 00:14:20.720
especially for somebody that's in the retirement years maybe they're downsizing, right, yeah,

269
00:14:20.799 --> 00:14:24.399
and so and so that would and so you'd be there,

270
00:14:24.679 --> 00:14:26.720
you'd be able to keep tabs on it, you'd be

271
00:14:26.759 --> 00:14:29.120
able to know exactly who's there and what's going on.

272
00:14:29.879 --> 00:14:32.519
What do you think the difference is between you know,

273
00:14:32.960 --> 00:14:39.639
having something that you're living in versus just a pure investment.

274
00:14:40.799 --> 00:14:42.519
Well, it depends on income level.

275
00:14:42.720 --> 00:14:45.039
So like for me in the house that I'm in now,

276
00:14:45.960 --> 00:14:48.720
I live here four days a fortnight. Just situation with

277
00:14:48.720 --> 00:14:51.720
with my daughter, but we've got an attached unit that's

278
00:14:51.759 --> 00:14:55.840
rented out, and that attached unit covers the more which

279
00:14:55.879 --> 00:14:57.000
for most of the property.

280
00:14:57.480 --> 00:15:00.000
So if you're in a you're in a situation where.

281
00:14:59.799 --> 00:15:01.440
You've got some money, you own a property, you can

282
00:15:01.480 --> 00:15:04.240
put a secondary dwelling on there, and you can rent

283
00:15:04.240 --> 00:15:07.120
your main house out, then I think it's a great option.

284
00:15:07.200 --> 00:15:10.080
Whatever you can do to supplement that income. As you

285
00:15:10.120 --> 00:15:12.960
get to that retirement age, then you know that the better.

286
00:15:13.600 --> 00:15:17.120
I think one of the issues that people have is

287
00:15:17.159 --> 00:15:21.080
that if they if they're downsizing from one house to another,

288
00:15:21.200 --> 00:15:24.440
and they think they'll keep the house they've just left

289
00:15:24.639 --> 00:15:27.559
as a as a rental and then go and buy

290
00:15:27.679 --> 00:15:30.840
the downsize is also a risk that you need to

291
00:15:30.879 --> 00:15:35.080
look at because generally, your owner occupied that you've been

292
00:15:35.120 --> 00:15:37.120
in for a number of years has got next to

293
00:15:37.120 --> 00:15:39.799
no debt on it, and then you go and.

294
00:15:39.799 --> 00:15:42.320
You buy the second house, but your second house has.

295
00:15:42.159 --> 00:15:45.759
Got all the debt that's non deductible, and you're left

296
00:15:45.759 --> 00:15:48.240
with a rental property that's got no debt on it.

297
00:15:48.279 --> 00:15:50.080
That doesn't make things tax efficient.

298
00:15:50.200 --> 00:15:52.279
So that's the other thing to bear in mind too,

299
00:15:52.279 --> 00:15:54.519
if it is a case of, look, we're going to downsize,

300
00:15:54.960 --> 00:15:56.919
but we're going to leave this one is a rental,

301
00:15:57.320 --> 00:16:01.200
you're better off to go and downsize, sell the house,

302
00:16:01.399 --> 00:16:04.919
buy a second one, and then if you've got capital

303
00:16:05.000 --> 00:16:06.639
left over that you want to deploy back to the

304
00:16:06.679 --> 00:16:09.639
investment side of things, then go and use the equity

305
00:16:10.200 --> 00:16:12.879
in your owner occupied house to then go and purchase.

306
00:16:14.240 --> 00:16:16.159
A specific purpose built.

307
00:16:16.279 --> 00:16:20.720
Investment property, not your old owner occupied because you love

308
00:16:20.759 --> 00:16:21.320
to live in there.

309
00:16:21.840 --> 00:16:23.000
Yeah.

310
00:16:23.039 --> 00:16:26.639
Well, the opportunity could be very real, but the risks

311
00:16:26.759 --> 00:16:30.279
can also be very real. And I had a very

312
00:16:30.480 --> 00:16:33.799
really traumatic experience in two thousand and eight where I

313
00:16:33.840 --> 00:16:37.120
found out that I had not One of the reasons

314
00:16:37.159 --> 00:16:40.840
this podcast is called Ask Good Questions is because I

315
00:16:40.879 --> 00:16:43.120
had not known the questions that I should have asked

316
00:16:43.120 --> 00:16:46.960
at that point. So let's talk about what can go wrong,

317
00:16:47.960 --> 00:16:53.279
and you know, because I think in most cases that's

318
00:16:53.279 --> 00:16:55.200
what people are going to want to hear so that

319
00:16:55.279 --> 00:16:56.600
they can avoid it.

320
00:16:57.159 --> 00:17:00.639
Yeah. Yeah, I mean, I think, I think, what's.

321
00:17:00.440 --> 00:17:03.360
Your biggest expensive mistake that you think people make?

322
00:17:04.880 --> 00:17:07.720
Not asking good the name of the podcast, not asking God,

323
00:17:07.839 --> 00:17:11.599
not asking good questions, not asking the right people. And

324
00:17:11.640 --> 00:17:15.000
I think when it comes to real estate, people tend

325
00:17:15.079 --> 00:17:19.160
to take advice from their neighbors, from their work colleagues,

326
00:17:19.640 --> 00:17:24.440
from their family, from their drunk relatives at barbecues, but

327
00:17:24.519 --> 00:17:27.119
they won't go and get professional advice around real estate.

328
00:17:27.440 --> 00:17:29.680
But if we have like a legal problem, if we

329
00:17:29.720 --> 00:17:32.160
have an accounting problem, we generally tend to go and

330
00:17:32.200 --> 00:17:34.480
talk to a lawyer, or if someone comes to sue us,

331
00:17:34.480 --> 00:17:36.480
we're going and we talk to the lawyer to go, hey,

332
00:17:36.559 --> 00:17:38.240
how do I get out of this? We have a

333
00:17:38.279 --> 00:17:41.400
tax problem, We go and talk to the accountant about, hey,

334
00:17:41.839 --> 00:17:44.559
what can I do here about my tax issue? We

335
00:17:45.119 --> 00:17:47.680
have a real estate problem, or we're going to go

336
00:17:47.720 --> 00:17:49.039
and get some real estate and we go and talk

337
00:17:49.079 --> 00:17:51.920
to the neighbor about it, and the chances are the

338
00:17:51.960 --> 00:17:54.839
neighbor hasn't brought anything in ten to fifteen twenty years,

339
00:17:54.920 --> 00:17:56.039
if at all.

340
00:17:56.519 --> 00:18:00.279
Most of the work colleagues are much the same boat.

341
00:18:00.319 --> 00:18:03.920
But I think because everyone lives in the house, everyone's

342
00:18:03.920 --> 00:18:06.200
got an opinion on on the real estate market what

343
00:18:06.279 --> 00:18:09.559
it should and shouldn't do, And so I think that's

344
00:18:09.599 --> 00:18:12.160
the key bedit is just getting some really good advice

345
00:18:12.200 --> 00:18:12.640
from people.

346
00:18:13.920 --> 00:18:19.160
Do you see people trusting the seller's agent. The buyer

347
00:18:19.240 --> 00:18:20.519
trusting the seller's agent.

348
00:18:21.720 --> 00:18:22.759
Oh, wait, way too much.

349
00:18:23.359 --> 00:18:27.799
That's the that's probably the second part of this is

350
00:18:27.839 --> 00:18:30.720
that people go to buy a house and the selling

351
00:18:30.759 --> 00:18:33.880
agent says, oh, hey, have you been looking for long? Yeah,

352
00:18:33.960 --> 00:18:35.519
been looking for the last month or two.

353
00:18:35.680 --> 00:18:37.640
Oh awesome. Have you got pre approval? Have you got

354
00:18:37.680 --> 00:18:38.680
a budget? Yeah?

355
00:18:38.720 --> 00:18:41.640
Yeah, yeah, yeah, we're pre approved up to nine hundred

356
00:18:41.640 --> 00:18:42.279
thousand dollars.

357
00:18:42.319 --> 00:18:45.000
Oh okay, cool. What do you think of this house? Yeah,

358
00:18:45.000 --> 00:18:45.599
it's pretty good.

359
00:18:45.640 --> 00:18:47.119
I think what we're going to do is we're going

360
00:18:47.160 --> 00:18:48.920
to renovate this and we're going to do this, and

361
00:18:48.960 --> 00:18:52.240
we might subdivide the back of it, and then we're

362
00:18:52.240 --> 00:18:53.759
probably going to sell it in three or four months

363
00:18:53.759 --> 00:18:58.680
and try and flip it. And the agent goes okay, okay, yep, cool,

364
00:18:58.720 --> 00:19:00.839
thank you. And then you go and offer them seven

365
00:19:00.880 --> 00:19:03.319
hundred thousand dollars for the house. And they go back

366
00:19:03.359 --> 00:19:05.960
and they talk to the vendor and go, well, hey,

367
00:19:06.039 --> 00:19:08.119
mister vendor, the I've got another two hundred thousand dollars

368
00:19:08.200 --> 00:19:08.680
up this sleeve.

369
00:19:09.640 --> 00:19:11.000
These are the things that they're going to do.

370
00:19:11.079 --> 00:19:14.319
I've actually just I've told another buyer what these guys

371
00:19:14.319 --> 00:19:16.640
are going to do. So We've also got someone else

372
00:19:16.680 --> 00:19:19.559
that's interested now as well. So what we'll do is

373
00:19:19.559 --> 00:19:21.359
we'll just hold off their offer for a couple of days.

374
00:19:21.400 --> 00:19:23.559
I'll get these guys to put an offer into we'll

375
00:19:23.599 --> 00:19:26.119
generate a bit of competition, and then we'll get heaps

376
00:19:26.160 --> 00:19:27.440
more for the house than what.

377
00:19:27.440 --> 00:19:27.880
We would have.

378
00:19:28.359 --> 00:19:31.720
And that's that's really you know, the biggest thing is

379
00:19:31.720 --> 00:19:34.480
pretending they're your friend. We're thinking they're your friend and

380
00:19:34.480 --> 00:19:38.240
they're there to help you. I suppose it's a little

381
00:19:38.240 --> 00:19:40.920
bit like Ronald Reagan when he said the most dangerous

382
00:19:40.960 --> 00:19:43.319
words are we're from the government and we're here to help.

383
00:19:44.559 --> 00:19:47.440
Is a little bit like realized that agent where I'm

384
00:19:47.480 --> 00:19:49.079
a selling agent and I'm here to help you.

385
00:19:49.720 --> 00:19:52.039
Yeah. Yeah, similar concept.

386
00:19:53.319 --> 00:20:01.359
Well, so basically what you're saying is, don't say too much, no.

387
00:20:02.000 --> 00:20:03.680
No pilets.

388
00:20:05.079 --> 00:20:08.240
Look at the house, get an idea of what you think.

389
00:20:08.799 --> 00:20:11.559
Agent asks you what you think that the property is worth.

390
00:20:11.839 --> 00:20:14.400
I'm not sure at the moment, I don't know what

391
00:20:14.519 --> 00:20:16.279
do you think it offer? Look, I'm not too sure.

392
00:20:16.279 --> 00:20:18.079
I just need to have a have a look at

393
00:20:18.160 --> 00:20:21.000
what else has been sold recently and if we're going

394
00:20:21.039 --> 00:20:22.279
to put an offer, and I'll come back to you

395
00:20:22.359 --> 00:20:22.799
with an offer.

396
00:20:24.920 --> 00:20:26.319
What do you what do you think you do with

397
00:20:26.599 --> 00:20:27.799
do with the place? Well, I'm not quite sure.

398
00:20:27.799 --> 00:20:29.720
I don't even know where to pay for it, let

399
00:20:29.720 --> 00:20:31.160
alone if I even gave you an offer in the

400
00:20:31.200 --> 00:20:31.680
first place.

401
00:20:33.559 --> 00:20:35.680
So yeah, as soon as you get loose.

402
00:20:35.480 --> 00:20:38.799
Lips and tell them everything, that's that's restaking yourself into trouble.

403
00:20:39.279 --> 00:20:43.559
Right, Well, do you think that there's certain types of

404
00:20:43.559 --> 00:20:49.359
properties that retirees should never buy? Is there some category

405
00:20:49.400 --> 00:20:51.319
that you would say stay away from?

406
00:20:52.799 --> 00:20:55.720
Yeah, I think anything that's like off the planet that

407
00:20:55.799 --> 00:20:59.559
hasn't been built yet, that's speculative in terms of how

408
00:20:59.759 --> 00:21:01.119
you can and you can buy this.

409
00:21:01.319 --> 00:21:02.640
Put your deposit down now.

410
00:21:02.759 --> 00:21:05.480
The apartment block is going to be built in six

411
00:21:05.519 --> 00:21:08.720
to twelve months to eighteen to twenty four months time,

412
00:21:09.240 --> 00:21:11.920
and it's worth four hundred thousand dollars today. It's going

413
00:21:11.960 --> 00:21:14.160
to be worth five hundred thousand dollars when it's built.

414
00:21:14.720 --> 00:21:16.519
You have a market correction of that time, and all

415
00:21:16.519 --> 00:21:18.200
of a sudden it's worth three point fifty.

416
00:21:19.759 --> 00:21:23.839
So that too, I have a commercial real estate thing

417
00:21:23.960 --> 00:21:28.160
that Yeah, then they're done that on that one too.

418
00:21:29.039 --> 00:21:32.039
Yeah, So if it's if you can physically touch it

419
00:21:33.200 --> 00:21:37.559
now and buy it now, good option. And as I say,

420
00:21:37.599 --> 00:21:39.880
the thing with the retirement side of things is like

421
00:21:39.920 --> 00:21:44.839
the cashflow becomes the important piece. So when you've got

422
00:21:45.160 --> 00:21:47.119
a long runway is that we want to be buying

423
00:21:47.200 --> 00:21:49.359
bigger blocks of land that if we need to do

424
00:21:49.440 --> 00:21:51.559
some development and things like that on them, then that's

425
00:21:51.720 --> 00:21:53.480
you know, later on down the track. That's fine because

426
00:21:53.480 --> 00:21:57.200
we've got time. But the thing we don't want to

427
00:21:57.240 --> 00:22:00.759
do is to get into speculative investing. You haven't got

428
00:22:00.759 --> 00:22:05.079
to run a long lead time to retirement because things

429
00:22:05.119 --> 00:22:06.519
take a long time to correct.

430
00:22:06.559 --> 00:22:09.680
If you're in the market for twenty years and you get.

431
00:22:09.519 --> 00:22:12.440
Something wrong at year one, by the time you look

432
00:22:12.480 --> 00:22:15.680
at it in twenty years time, it's not quite so bad.

433
00:22:15.759 --> 00:22:18.400
But if you've got a run right of four years,

434
00:22:18.440 --> 00:22:21.400
and say like for New Zealand, like I bought a

435
00:22:21.400 --> 00:22:24.599
house in twenty twenty one the tenth of November between

436
00:22:24.720 --> 00:22:27.359
twenty one, the market declined on the eleventh of November

437
00:22:27.359 --> 00:22:31.319
betweeny twenty one, but it's okay because we had a

438
00:22:31.319 --> 00:22:33.160
strategy in the house is now worth more than what

439
00:22:33.240 --> 00:22:33.680
it was.

440
00:22:35.240 --> 00:22:37.519
But the thing with that though, is if we didn't

441
00:22:37.519 --> 00:22:38.319
have the strategy, we.

442
00:22:38.480 --> 00:22:42.680
Just aimlessly bought at that the day before the market turned,

443
00:22:43.799 --> 00:22:46.079
and five years later we hadn't done anything to it,

444
00:22:46.119 --> 00:22:49.400
We're potentially sitting at the same value, if not less

445
00:22:50.119 --> 00:22:52.200
than what we purchased it for with the whole oder

446
00:22:52.240 --> 00:22:56.480
maintenance issues. So that's the key thing you've got to

447
00:22:56.519 --> 00:23:00.640
purchase with a strategy. But as you get older, the

448
00:23:00.680 --> 00:23:04.319
lower maintenance that the newer properties that you can get

449
00:23:04.359 --> 00:23:06.680
see you're left with with the less headaches, and the

450
00:23:06.759 --> 00:23:10.640
growth isn't such a thing to push for. It's more

451
00:23:10.640 --> 00:23:12.319
so the cash flow that becomes more important.

452
00:23:12.880 --> 00:23:18.680
Right Well, when people are getting into contracts, do you

453
00:23:18.680 --> 00:23:21.279
think there's red flags? Is there things that people should

454
00:23:21.279 --> 00:23:26.680
be looking for that some people might miss that are

455
00:23:26.720 --> 00:23:27.400
red flags.

456
00:23:28.799 --> 00:23:32.839
I think getting properties checked out with building inspections and

457
00:23:32.880 --> 00:23:35.519
things like that, and your council files and your council

458
00:23:35.599 --> 00:23:38.039
records are extremely important.

459
00:23:39.200 --> 00:23:42.119
You know, there's people like for us that miss out.

460
00:23:43.079 --> 00:23:46.119
I've had a client last week that we spent four

461
00:23:46.160 --> 00:23:50.400
thousand dollars on due diligence for a property and then

462
00:23:50.519 --> 00:23:54.240
she wasn't a happy lady at the end when we

463
00:23:54.279 --> 00:23:58.000
found that the roof. There were some major issues there,

464
00:23:58.079 --> 00:24:00.599
and there were some waterproofing issues, which was like a

465
00:24:00.599 --> 00:24:04.480
two hundred thousand dollar problem to fix. But the focus

466
00:24:04.720 --> 00:24:07.279
was was like, well, we've spent four thousand dollars on this.

467
00:24:07.279 --> 00:24:10.359
This is ridiculous, So how do we reduce that cost

468
00:24:10.400 --> 00:24:13.599
next time? Because we can't just keep spending four thousand

469
00:24:13.640 --> 00:24:16.880
dollars a pop. And it's like, I get that, and

470
00:24:16.960 --> 00:24:19.279
I understand that. But if we've just got and bought

471
00:24:19.319 --> 00:24:22.519
the property, you haven't got two hundred thousand dollars to

472
00:24:22.599 --> 00:24:26.279
go and rectify this problem. So we were better to

473
00:24:26.279 --> 00:24:28.759
spend the four thousand on due diligence up front to

474
00:24:28.799 --> 00:24:30.839
find the two hundred thousand dollars problem.

475
00:24:31.839 --> 00:24:33.119
Then if I just said.

476
00:24:32.920 --> 00:24:35.119
To a look going by it, she bought it, then

477
00:24:35.160 --> 00:24:36.839
she would have been a lot more angry with me

478
00:24:37.440 --> 00:24:40.640
finding that there was two hundred grands worth of problems

479
00:24:40.720 --> 00:24:43.440
later on down the track for skipping a simple step.

480
00:24:44.480 --> 00:24:47.960
Well you know, so now we're all freaked out because

481
00:24:48.000 --> 00:24:49.839
those are all those are a lot of mistakes that

482
00:24:49.880 --> 00:24:54.400
people could make. What what kind of so so walk

483
00:24:54.480 --> 00:24:58.160
me through what kind of service someone like you gives

484
00:24:58.200 --> 00:25:03.519
to somebody? What does the client, actually have you do?

485
00:25:04.799 --> 00:25:07.319
Yeah, So, in terms of the majority of our clients

486
00:25:07.400 --> 00:25:09.359
get us to go through the whole process for them.

487
00:25:09.680 --> 00:25:13.240
So we sit down with them at the start, findance strategically,

488
00:25:14.000 --> 00:25:16.759
where they're at in terms of financial situation, what it

489
00:25:16.759 --> 00:25:18.880
is that they're looking to achieve, and then we come

490
00:25:18.960 --> 00:25:21.359
up with a strategy around that. Are we what types

491
00:25:21.400 --> 00:25:24.000
of property are we buying? What are we buying hold?

492
00:25:24.079 --> 00:25:24.400
Are we?

493
00:25:25.160 --> 00:25:27.240
Are we chasing cash flow? Were chasing equity? What does

494
00:25:27.240 --> 00:25:29.839
that look like? Then we work out the areas that

495
00:25:29.839 --> 00:25:32.960
they're going to suit that strategy, and then property being

496
00:25:33.000 --> 00:25:35.920
the last thing that people go and look at, although

497
00:25:36.000 --> 00:25:37.400
that we go and look at. Generally it tends to

498
00:25:37.440 --> 00:25:39.759
be everyone goes and looks at houses and hopes everything

499
00:25:39.799 --> 00:25:43.720
else fits in along the way. And then so once

500
00:25:43.759 --> 00:25:45.759
we've got that and we start to go up to

501
00:25:45.759 --> 00:25:49.160
the market, we source the properties for them, take care

502
00:25:49.160 --> 00:25:53.599
of all the agent communication negotiation side of things, organize

503
00:25:53.640 --> 00:25:56.319
that due the due diligence, go through that with them.

504
00:25:56.319 --> 00:25:58.519
If there's any red flags there, we point them out.

505
00:25:58.559 --> 00:26:01.680
We point them in the right direction. Whereas the first

506
00:26:01.720 --> 00:26:04.839
people to say, hey, look this doesn't work, We're better

507
00:26:04.880 --> 00:26:09.079
to start the process again then to go through with

508
00:26:09.160 --> 00:26:13.079
us and end up with a headache. And then what

509
00:26:13.119 --> 00:26:15.359
we then do is if there's renovations, we help them

510
00:26:15.359 --> 00:26:18.160
out on the renovation side of things, and then also

511
00:26:18.359 --> 00:26:19.519
on the property management.

512
00:26:19.519 --> 00:26:21.240
We've got a property management company as well.

513
00:26:21.279 --> 00:26:25.559
So for us, it's everything from starting to finish clients'

514
00:26:25.640 --> 00:26:27.640
jobs to say yep we like it or no we don't,

515
00:26:28.279 --> 00:26:30.039
and know it's fine just as long as we know.

516
00:26:30.079 --> 00:26:31.200
Why.

517
00:26:31.799 --> 00:26:35.400
So, are you acting as the buyer's real estate agent?

518
00:26:36.359 --> 00:26:36.599
Yes?

519
00:26:36.680 --> 00:26:42.720
Correct, Yeah, okay, but you're like the whole process. It's

520
00:26:42.799 --> 00:26:45.680
not just the real estate agent buying the property then

521
00:26:46.960 --> 00:26:50.519
helping with renovation. I mean, that's fantastic to have somebody

522
00:26:50.519 --> 00:26:53.559
that can take care of all the things that need

523
00:26:53.599 --> 00:26:54.319
to be done.

524
00:26:54.960 --> 00:26:55.200
Yeah.

525
00:26:55.200 --> 00:26:57.839
Well, we started out just on the buying side of things,

526
00:26:57.839 --> 00:27:00.400
so we're feed for service and our clients pay, so

527
00:27:00.440 --> 00:27:03.920
we've got their best interest at hard as opposed to

528
00:27:04.799 --> 00:27:07.240
a vendor, you know, paying an agent.

529
00:27:08.359 --> 00:27:10.359
And so it started out just with the buying side

530
00:27:10.400 --> 00:27:10.720
of things.

531
00:27:10.759 --> 00:27:12.160
Then we had a client that said to us, hey,

532
00:27:12.200 --> 00:27:14.799
look you've done a good job for me getting me

533
00:27:14.880 --> 00:27:16.319
from where I was to where I am. Now I've

534
00:27:16.319 --> 00:27:19.279
got a number of properties if you start managing them.

535
00:27:19.640 --> 00:27:21.599
If you want to start a property management company, I'll

536
00:27:21.599 --> 00:27:26.000
give you fifteen to start with, and then you know you.

537
00:27:25.880 --> 00:27:27.200
Can you can go from there.

538
00:27:28.079 --> 00:27:29.680
So I came home and told my wife that that's

539
00:27:29.720 --> 00:27:33.400
what we were doing, and she was she was a

540
00:27:33.400 --> 00:27:34.880
little bit unhappy about the situation.

541
00:27:35.160 --> 00:27:37.960
How are we going to do it with? Yeah, yeah,

542
00:27:38.039 --> 00:27:40.039
you know, I was like that. And then the same.

543
00:27:39.799 --> 00:27:42.799
Guy about four months later was like, Hey, look, if

544
00:27:42.799 --> 00:27:44.839
you guys can manage my projects for me as well,

545
00:27:44.920 --> 00:27:47.000
then I'll jump on board with that.

546
00:27:47.160 --> 00:27:49.240
So that's how that started.

547
00:27:49.240 --> 00:27:52.480
But I mean, hindsight being the great thing is like

548
00:27:52.559 --> 00:27:55.480
the one path till successful thing should have been the

549
00:27:55.519 --> 00:27:58.680
path that I went down, but we probably went too

550
00:27:58.720 --> 00:28:01.839
wide too early. They're okay now and things are good,

551
00:28:01.880 --> 00:28:05.480
but two wide too early. Having to employ people that

552
00:28:05.640 --> 00:28:10.680
were that were highly specialized, people with low revenue just

553
00:28:10.759 --> 00:28:13.400
meant that our main business that was doing well was

554
00:28:13.440 --> 00:28:17.559
supporting the others as they as they went through or

555
00:28:17.759 --> 00:28:20.440
as they grew, as opposed to them paying for themselves

556
00:28:20.559 --> 00:28:25.480
organically off the mark. So some lessons learned from the

557
00:28:25.519 --> 00:28:26.759
business side of things as well.

558
00:28:27.480 --> 00:28:32.640
Well, that's good. So can you tell what a good

559
00:28:32.680 --> 00:28:36.319
property is going to look like on paper before you

560
00:28:36.400 --> 00:28:37.599
ever go take a look at it.

561
00:28:38.400 --> 00:28:39.559
Yeah, hundred percent.

562
00:28:40.160 --> 00:28:43.279
I think we've been doing it now for just on

563
00:28:43.319 --> 00:28:47.039
twenty years, so you get a bit of a gut

564
00:28:47.079 --> 00:28:50.519
feeling and a bit of intuition over that time as

565
00:28:50.519 --> 00:28:52.640
to what's going to be good. But I think now

566
00:28:52.680 --> 00:28:55.240
with very different story Back in two thousand and five,

567
00:28:55.240 --> 00:28:57.960
two thousand and six, when the Internet wasn't there or

568
00:28:58.000 --> 00:29:00.319
to the same degree as what it is ow.

569
00:29:01.799 --> 00:29:03.839
You know, and to go.

570
00:29:03.759 --> 00:29:06.400
And find out and investigate properties, you more or less

571
00:29:06.440 --> 00:29:08.400
had to go to the town or the city to

572
00:29:08.440 --> 00:29:10.559
go and look at them physically and walk through them

573
00:29:10.559 --> 00:29:14.160
and get an idea, as opposed to now with council maps.

574
00:29:15.440 --> 00:29:19.319
With the research you can do on properties online, obviously

575
00:29:19.359 --> 00:29:21.720
the photos and the video walkthroughs, it gives you a

576
00:29:21.759 --> 00:29:25.160
pretty good sense of where things are. And like I

577
00:29:25.200 --> 00:29:28.119
said before, that doesn't eliminate the due diligence around the

578
00:29:28.119 --> 00:29:30.480
building inspections and things like that, but it just helps

579
00:29:30.519 --> 00:29:32.240
to go, hey, look, this could be a good one.

580
00:29:32.720 --> 00:29:36.119
Let's investigate this some more, or based on flood mapping

581
00:29:36.279 --> 00:29:40.160
and socioeconomic area, this isn't good, Let's move on to

582
00:29:40.200 --> 00:29:41.759
the next Well.

583
00:29:41.599 --> 00:29:46.559
It seems like this should be able to help you,

584
00:29:46.559 --> 00:29:52.079
you know, kind of evaluate in a smart way so

585
00:29:52.319 --> 00:29:54.799
that you're not buying a money pit.

586
00:29:56.000 --> 00:29:56.240
Yeah.

587
00:29:56.799 --> 00:29:59.440
Yeah, You've just got to use all tools available to

588
00:29:59.559 --> 00:30:02.880
you to eliminate that. And I think it's getting easier

589
00:30:02.920 --> 00:30:05.480
to to do that due diligence and easy to look

590
00:30:05.480 --> 00:30:09.720
into all these things, especially with AI. You know that

591
00:30:09.720 --> 00:30:13.400
that definitely helps as well around you know, finding out

592
00:30:13.440 --> 00:30:16.039
information and cross checking information. You obviously want to verify

593
00:30:16.119 --> 00:30:19.319
all about yourself, but in terms of the stuff that

594
00:30:19.319 --> 00:30:22.359
it would have taken you hours to sift through, that

595
00:30:22.480 --> 00:30:24.640
the A I definitely makes a lot easier today.

596
00:30:25.880 --> 00:30:27.799
I know that back in the day and in my

597
00:30:27.880 --> 00:30:31.119
different real estate ventures that I've had in my life,

598
00:30:31.920 --> 00:30:35.559
sometimes there was a lot of spin around doing it

599
00:30:35.599 --> 00:30:41.599
yourself and not having an agent. Yeah, and so why

600
00:30:41.640 --> 00:30:46.039
would you say, the smart investor would go no, no, no, no,

601
00:30:46.079 --> 00:30:48.440
I'm not going to do that. I'm going to have

602
00:30:48.519 --> 00:30:52.759
my buyer's agent. Why why why are they What are

603
00:30:52.799 --> 00:30:57.279
the things that make it really worthwhile to have that agent?

604
00:30:57.599 --> 00:30:59.680
You know that you're side by side with.

605
00:31:00.559 --> 00:31:03.160
Yeah, I think we'll go back to the like the

606
00:31:03.200 --> 00:31:05.880
court lawyer analogy, and you look at how well people

607
00:31:05.920 --> 00:31:09.240
do when they self represent, uh, and they don't tend

608
00:31:09.240 --> 00:31:10.759
to self represent anywhere in there.

609
00:31:10.640 --> 00:31:12.359
As well as what they do with a lawyer.

610
00:31:13.079 --> 00:31:17.200
So like from a negotiation, From a negotiation standpoint, you know,

611
00:31:17.480 --> 00:31:19.880
someone comes to you and you're talking with an agent

612
00:31:20.319 --> 00:31:22.519
through me, and they they say, you know what you

613
00:31:22.519 --> 00:31:24.880
should buy? I think about this, and you can you

614
00:31:24.920 --> 00:31:27.240
know exactly what they're thinking. But you've got a bit

615
00:31:27.279 --> 00:31:30.240
of theater and you've got a bit of there to

616
00:31:31.359 --> 00:31:34.960
to play your your client off against you know what,

617
00:31:34.960 --> 00:31:37.720
what's actually going on, whereas you know, you go, I

618
00:31:37.720 --> 00:31:39.359
don't really know about that. We're just going to have

619
00:31:39.400 --> 00:31:42.359
to think about it. Well, i'll see, I'll see what

620
00:31:42.400 --> 00:31:44.640
I can do. But when you're the face of that

621
00:31:45.119 --> 00:31:47.079
and you're trying to you know, like you and I

622
00:31:47.079 --> 00:31:49.519
are having a conversation now and I'm trying to tell

623
00:31:49.559 --> 00:31:51.440
you that I'm not quite sure because my wife doesn't

624
00:31:51.559 --> 00:31:53.480
might not agree with it. It doesn't quite wash the

625
00:31:53.519 --> 00:31:57.440
same as what it does with with someone independent. The

626
00:31:57.519 --> 00:31:59.240
other thing is to like we're in the market all

627
00:31:59.319 --> 00:32:01.480
day every day, so we know exactly what's going on,

628
00:32:01.519 --> 00:32:03.079
we know who the people are to deal with. We

629
00:32:03.119 --> 00:32:06.119
know who the people are to stay away from. We've

630
00:32:06.119 --> 00:32:09.799
got inside information that other people don't get. I was

631
00:32:09.799 --> 00:32:12.839
talking to a lady yesterday who said to me, I've

632
00:32:12.839 --> 00:32:15.359
been asking all the agents for where all the off

633
00:32:15.440 --> 00:32:17.799
market deals are and they just tell me they don't exist.

634
00:32:18.720 --> 00:32:20.680
And I said, I was like, well, they won't exist.

635
00:32:20.519 --> 00:32:24.920
For you because you've got no track record with these people,

636
00:32:26.240 --> 00:32:28.599
and you know, they just want to see you to

637
00:32:28.680 --> 00:32:31.599
market so that you can compete with with everyone else.

638
00:32:31.680 --> 00:32:33.880
They don't want to help you out and get you

639
00:32:33.920 --> 00:32:34.400
over the line.

640
00:32:34.480 --> 00:32:37.799
So I mean there's deals that people never see the

641
00:32:37.839 --> 00:32:39.799
light of day because they come to us first, because

642
00:32:39.799 --> 00:32:44.200
they before they go anywhere else. And it also too,

643
00:32:44.440 --> 00:32:46.519
because of the length of time we've been doing this.

644
00:32:46.839 --> 00:32:49.279
There's no one there's no emotional attachment in this. For me,

645
00:32:49.599 --> 00:32:53.039
it's it's another house. And people are like, oh, well,

646
00:32:53.039 --> 00:32:54.880
just we'll pay this much. It's like, well, no, we won't.

647
00:32:54.920 --> 00:32:56.759
There there will be another deal that will come up

648
00:32:56.839 --> 00:33:00.279
next week. And I think that's that's the thing. As

649
00:33:00.319 --> 00:33:02.200
people get you know, there's the fear of missing out

650
00:33:02.240 --> 00:33:04.079
the kicks, and they overpay for a.

651
00:33:04.039 --> 00:33:07.200
Place in a twelve months time. They go, oh, paid,

652
00:33:07.240 --> 00:33:08.920
I paid one hundred grand too much for this. This

653
00:33:09.039 --> 00:33:09.640
is ridiculous.

654
00:33:10.960 --> 00:33:14.440
Well do you think there's universal principles that that you know,

655
00:33:14.640 --> 00:33:17.839
so because you know I'm in I'm in the United States,

656
00:33:17.839 --> 00:33:22.680
you're in New Zealand, is there some principles that might

657
00:33:22.720 --> 00:33:24.519
apply it no matter what country you're in.

658
00:33:25.400 --> 00:33:26.519
Yeah, one hundred percent.

659
00:33:26.599 --> 00:33:28.920
I mean the guy that I took my real estate

660
00:33:28.960 --> 00:33:33.279
course from he was from Nebraska. So yeah, so he's

661
00:33:33.279 --> 00:33:35.359
from Nebraska and then he comes down to New Zealand

662
00:33:35.640 --> 00:33:37.400
to teach us about real estate and we had.

663
00:33:37.319 --> 00:33:41.119
The same So his trip is a business right off.

664
00:33:41.920 --> 00:33:47.319
Yeah, well there's there's that too, right, So yeah, he came.

665
00:33:47.200 --> 00:33:49.839
Down to New Zealand to teach us about real estate.

666
00:33:51.119 --> 00:33:54.599
But it's the principles are the same, like by undervalue

667
00:33:54.839 --> 00:33:58.519
for some appreciation, depending on where you are, cash flow

668
00:33:58.599 --> 00:34:00.200
is going to be king or you're going to need

669
00:34:00.240 --> 00:34:05.160
some equity. Buy in suburbs that are in the above

670
00:34:05.200 --> 00:34:08.079
the bottom of twenty percent and below the fifty percent

671
00:34:08.159 --> 00:34:10.840
median of the suburb or the area, so that you're

672
00:34:10.880 --> 00:34:11.800
going to get some growth.

673
00:34:12.800 --> 00:34:14.000
And it's like it's.

674
00:34:14.440 --> 00:34:17.679
The basic stuff like that that's regardless of whether you're

675
00:34:17.679 --> 00:34:21.400
in New Zealand or whether you're in the States or Europe.

676
00:34:22.679 --> 00:34:24.960
If if you can sit and you can hit, you know,

677
00:34:25.159 --> 00:34:27.880
find out strategically what you're looking to do, then find

678
00:34:27.880 --> 00:34:30.519
the areas that suit that strategy, and then look at

679
00:34:30.519 --> 00:34:34.639
property as the last thing you'll have yourself, right as

680
00:34:34.679 --> 00:34:37.599
opposed to, like I say, people just stop looking at

681
00:34:37.599 --> 00:34:40.599
houses because that tends to be the first thing that

682
00:34:41.000 --> 00:34:44.119
people do, and then hope that the rest falls into place.

683
00:34:44.360 --> 00:34:44.639
Right.

684
00:34:45.119 --> 00:34:48.639
I mean you're basically talking about a system and a process.

685
00:34:49.719 --> 00:34:54.519
Yeah, Well, I think everything's I was very anti system

686
00:34:54.800 --> 00:34:58.039
and didn't quite understand it for a long time, but

687
00:34:58.159 --> 00:35:00.880
as we're sort of growing, that's that become something that

688
00:35:00.920 --> 00:35:05.360
I've had to become more acquainted with. But basically, everything's

689
00:35:05.400 --> 00:35:08.000
a system or a process, and as soon as you

690
00:35:08.039 --> 00:35:12.079
don't have one, things go sideways for you and things

691
00:35:12.119 --> 00:35:13.760
get a lot harder than what they should be.

692
00:35:15.159 --> 00:35:17.280
Well, how do I want to do a little bit

693
00:35:17.320 --> 00:35:21.280
more of a on a personal note too, You're a

694
00:35:21.320 --> 00:35:25.239
young dad, right, yeah, tell me about your family.

695
00:35:26.280 --> 00:35:29.559
Yes, So I've got an eight year old daughter, so

696
00:35:29.599 --> 00:35:34.039
she's she's just turned date. And then I've got and

697
00:35:34.079 --> 00:35:36.280
then that was with my former partner. I've got my

698
00:35:36.320 --> 00:35:39.679
now wife, we've been married for a couple of years now,

699
00:35:40.320 --> 00:35:42.760
and I've also got a held he now he's an

700
00:35:42.800 --> 00:35:46.440
eight month old an eight month old son as well,

701
00:35:46.760 --> 00:35:49.639
which is keeping us, keeping us on our toes, plus

702
00:35:49.639 --> 00:35:54.440
our dog, so that between the four of them keeps us,

703
00:35:54.679 --> 00:35:55.519
keeps us occupied.

704
00:35:55.559 --> 00:35:58.480
And then as I said, I live between two cities

705
00:35:58.480 --> 00:35:59.039
in New Zealand.

706
00:35:59.119 --> 00:36:02.159
The week that my daughters with her mum we live

707
00:36:02.199 --> 00:36:04.880
in Auckland, and then the weeks that I've got my daughter,

708
00:36:05.519 --> 00:36:07.840
I moved back to another city for a week to

709
00:36:08.519 --> 00:36:10.360
spend time with her, and so a.

710
00:36:10.360 --> 00:36:12.679
Little bit of single parenting in both houses.

711
00:36:12.719 --> 00:36:16.559
But we we're making it work, how you know.

712
00:36:16.760 --> 00:36:21.920
So a lot of times I remember, probably when I

713
00:36:21.960 --> 00:36:25.199
was about your age, and I'm bumbling around trying all

714
00:36:25.199 --> 00:36:31.119
these different things that I wanted time freedom, I wanted

715
00:36:31.159 --> 00:36:32.920
to be in charge of my time. You know. How

716
00:36:33.199 --> 00:36:36.039
how do you think building this business has shaped how

717
00:36:36.079 --> 00:36:39.360
you think about legacy and time freedom and being able

718
00:36:39.400 --> 00:36:42.880
to be with those kids and with your wife.

719
00:36:43.920 --> 00:36:47.719
It's still it's still tricky and it's still challenging. I

720
00:36:48.079 --> 00:36:51.119
definitely haven't got it locked in. It's definitely helped that

721
00:36:51.199 --> 00:36:53.039
we're at the revenue that we are now, and that

722
00:36:53.119 --> 00:36:56.280
we've got a team that that I don't have to

723
00:36:56.320 --> 00:36:59.599
be on the like people are dependent on me, but

724
00:36:59.639 --> 00:37:02.559
they're not dependent on me for the delivery. So like,

725
00:37:03.960 --> 00:37:06.280
you know, I spend most of my time now, I'm

726
00:37:06.400 --> 00:37:10.320
talking with a team, dealing with like strategically, what are

727
00:37:10.360 --> 00:37:12.079
we going to do, how we're going to go out things,

728
00:37:12.480 --> 00:37:16.280
on boarding new clients. That's predominantly where I spend most

729
00:37:16.320 --> 00:37:18.239
of most of my time as opposed to the delivery

730
00:37:18.280 --> 00:37:20.760
side of things. So if something comes up like yesterday,

731
00:37:20.760 --> 00:37:23.639
for example, my daughter has gymnastics at four o'clock on

732
00:37:23.679 --> 00:37:26.880
a Wednesday, So it's like, right, cool, I just crossed

733
00:37:26.920 --> 00:37:28.360
my calendar out from four to five.

734
00:37:28.679 --> 00:37:29.719
It's important to be there.

735
00:37:30.480 --> 00:37:33.280
Yeah yeah, well it's the question she asked me every

736
00:37:33.320 --> 00:37:34.800
Wednesday that she's with me.

737
00:37:35.039 --> 00:37:38.679
You're coming this afternoon, right, I mean yeah, yeah, yeah, yeah.

738
00:37:38.719 --> 00:37:41.199
So you know, it's just about being able to cross

739
00:37:41.239 --> 00:37:44.519
those times out. It's like my son's swimming, you know,

740
00:37:44.599 --> 00:37:46.559
he's eight months old, but it's cute to go and watch,

741
00:37:46.639 --> 00:37:48.480
So it's it's good to be able to have those

742
00:37:48.519 --> 00:37:51.880
options just to go, Hey, look it's time blocked out

743
00:37:51.920 --> 00:37:54.800
for me to go and watch him. Not that he'll

744
00:37:54.800 --> 00:37:57.760
ever he'll ever remember it, but it's you know, it's

745
00:37:57.760 --> 00:37:59.480
an important thing for me to be able to go

746
00:37:59.519 --> 00:37:59.800
and do.

747
00:38:01.280 --> 00:38:03.639
Well. One of the things that I know that I've

748
00:38:03.679 --> 00:38:07.199
seen as a complaint is people say, oh, this just

749
00:38:07.239 --> 00:38:11.199
becomes a second job. You know, they want the financial

750
00:38:11.280 --> 00:38:13.360
upside of the property, but they don't want it to

751
00:38:13.400 --> 00:38:17.320
become a second job, which they really shouldn't. What's your

752
00:38:17.360 --> 00:38:18.199
advice around that.

753
00:38:20.039 --> 00:38:21.199
Get a good property manager.

754
00:38:21.440 --> 00:38:26.079
Yeah, I mean that's even for my properties. I've got

755
00:38:26.079 --> 00:38:28.639
one not far from here, but our company manages it.

756
00:38:30.199 --> 00:38:33.440
I've seen the tenant from a distance, but I've I've

757
00:38:33.440 --> 00:38:36.440
never met her because the other thing that happens with

758
00:38:36.480 --> 00:38:41.400
that that house there I managed myself three or four years.

759
00:38:42.320 --> 00:38:43.519
Tenant was a lovely lady.

760
00:38:43.719 --> 00:38:46.000
She was paying well blow market rent, and then she'd

761
00:38:46.000 --> 00:38:48.199
missed some rent. In one stage, she didn't pay for

762
00:38:48.199 --> 00:38:50.880
two or three weeks in my car. She's a struggling mum.

763
00:38:51.880 --> 00:38:54.639
I then found out that she had four four teenage

764
00:38:54.719 --> 00:38:57.719
kids that were seventeen, eighteen nineteen living there that weren't working.

765
00:38:58.719 --> 00:39:00.519
And so like I look back, now got all I

766
00:39:00.559 --> 00:39:03.119
was doing, and I just wipe her the week or

767
00:39:03.159 --> 00:39:05.159
two weeks rent off because I felt sorry for her.

768
00:39:06.960 --> 00:39:09.239
But the problem is is like I was enabling the

769
00:39:09.280 --> 00:39:14.119
situation because her kids who weren't working and were there

770
00:39:14.159 --> 00:39:16.360
and they all had no money. As soon as they

771
00:39:16.400 --> 00:39:19.519
gave them notice to leave, they all had enough money

772
00:39:19.559 --> 00:39:21.880
to fly to Australia, so they weren't helping their mom

773
00:39:21.920 --> 00:39:25.079
out there. She was behind on renting or other bills,

774
00:39:25.239 --> 00:39:27.039
but they had enough money to leave the country when

775
00:39:27.079 --> 00:39:29.519
they were they were forced to move out of the house.

776
00:39:30.719 --> 00:39:33.000
So your good property manager get them on top of it,

777
00:39:33.599 --> 00:39:36.519
and then you're not emotionally attached to it. Yes, there's

778
00:39:37.119 --> 00:39:40.840
a cost to it, but you know, for twenty thirty

779
00:39:40.880 --> 00:39:43.199
forty bucks a week, you're not going to get someone

780
00:39:43.320 --> 00:39:45.360
that's on call twenty four hours a day to do

781
00:39:45.400 --> 00:39:49.239
your accounting, to fix your maintenance issues, to deal with

782
00:39:49.280 --> 00:39:51.679
the tenant headaches, and getting them out if you need

783
00:39:51.679 --> 00:39:52.440
to get them evicted.

784
00:39:53.119 --> 00:39:56.599
So it's you know, it's cheap in the scheme of things.

785
00:39:57.360 --> 00:40:01.239
Yeah, Well, what's the one thing you wish every person

786
00:40:01.400 --> 00:40:07.639
knew before they ever buy an investment property? What's what?

787
00:40:07.639 --> 00:40:07.840
Where?

788
00:40:07.920 --> 00:40:09.320
Where should they start?

789
00:40:11.400 --> 00:40:14.480
I said, by buy something that's boring, Boring makes your

790
00:40:14.519 --> 00:40:18.679
money sexy is expensive. Uh, And it's the It tends

791
00:40:18.719 --> 00:40:20.920
to be the same with with most things in life.

792
00:40:20.920 --> 00:40:23.800
If you go for the most the sexiest thing you

793
00:40:23.800 --> 00:40:25.920
can possibly find, they tend to be the most expensive thing.

794
00:40:27.159 --> 00:40:31.079
So you know, borings where you where you make your money,

795
00:40:31.480 --> 00:40:34.239
you tend to have less issues. They tend to be

796
00:40:34.320 --> 00:40:39.239
less expensive, less maintenance, less speculative. And and just go

797
00:40:39.360 --> 00:40:40.920
and if you just start to go out and talk

798
00:40:40.960 --> 00:40:42.400
to some people that have been in the game for

799
00:40:42.440 --> 00:40:43.960
a while, go and talk to some people that are

800
00:40:43.960 --> 00:40:47.360
on your side, who are in the game day and

801
00:40:47.440 --> 00:40:50.519
day out. Go and talk to a broker to get

802
00:40:50.519 --> 00:40:52.360
some feedback on you know what you can do. Because

803
00:40:52.360 --> 00:40:54.800
I think that's the other thing is that you know,

804
00:40:54.960 --> 00:40:57.119
people just go and talk to one bank and the

805
00:40:57.119 --> 00:40:59.880
bank says no, so they give up hope, as opposed

806
00:40:59.920 --> 00:41:02.440
to only talking to a broker that can give you

807
00:41:02.480 --> 00:41:05.679
a few different options and see where you where you

808
00:41:05.719 --> 00:41:07.760
can go. Because that was like a belief I had

809
00:41:07.800 --> 00:41:09.920
earlier on in the piece, was all my parents said,

810
00:41:09.960 --> 00:41:10.519
I just broke.

811
00:41:10.599 --> 00:41:12.559
People go to brokers because they can't get lending in

812
00:41:12.559 --> 00:41:12.920
the bank.

813
00:41:14.280 --> 00:41:17.159
And then I since learned that the brokers we're extremely handy

814
00:41:17.199 --> 00:41:20.400
people to have on your side to get your finance

815
00:41:20.440 --> 00:41:23.400
when you know when someone's either said no to your

816
00:41:23.280 --> 00:41:26.280
or or things are tight or you need some different options,

817
00:41:26.280 --> 00:41:28.760
So the broker being a really good first step.

818
00:41:28.760 --> 00:41:30.880
And then who else they've got that they can introduce

819
00:41:30.960 --> 00:41:31.159
you to.

820
00:41:33.400 --> 00:41:39.360
Well, do you work just with New Zealand clients or

821
00:41:40.239 --> 00:41:42.519
do you have any international clients?

822
00:41:43.039 --> 00:41:46.599
Yeah, about fifty percent of our clients are international, So

823
00:41:46.880 --> 00:41:50.039
people that are looking to buy in New Zealand. We've

824
00:41:50.039 --> 00:41:52.760
got a number of expats that put their money back

825
00:41:52.800 --> 00:41:55.440
here from the Middle East, from.

826
00:41:55.400 --> 00:41:58.360
Asia the time in the United States.

827
00:41:58.920 --> 00:42:01.000
Yeah, and yeah, no, we also deal with some people

828
00:42:01.000 --> 00:42:03.880
from the States as well back back into here too,

829
00:42:04.000 --> 00:42:07.320
So yeah, there's there's there's options there. And then we're

830
00:42:07.320 --> 00:42:10.360
also looking into potentially some property management stuff, uh and

831
00:42:10.440 --> 00:42:13.000
the States as well in the next next couple of years.

832
00:42:14.400 --> 00:42:17.199
Well, how how would someone who wants to learn more

833
00:42:17.239 --> 00:42:18.159
about you find you?

834
00:42:19.280 --> 00:42:19.920
Best places?

835
00:42:19.960 --> 00:42:24.119
On Instagram at Handling Nightingale or our website which is

836
00:42:24.159 --> 00:42:26.880
New Zealand property buyers dot Com.

837
00:42:27.159 --> 00:42:29.840
And the other thing that I'll just remind everyone on

838
00:42:29.920 --> 00:42:33.760
my website I always have a little profile about the guests,

839
00:42:33.800 --> 00:42:36.960
and so you'll be able to find information about Hadley

840
00:42:37.039 --> 00:42:41.480
there on on my website where I have all that

841
00:42:41.519 --> 00:42:49.639
information about guests. So, wow, our time is gone, Hadley.

842
00:42:50.639 --> 00:42:54.800
So I think what we want to say is before

843
00:42:54.840 --> 00:43:00.960
you sign anything, ask some good questions and make sure

844
00:43:01.039 --> 00:43:03.400
you're starting with that system and that process.

845
00:43:03.519 --> 00:43:06.880
Right, Yeah, one hundred percent. Ask some good questions, get

846
00:43:06.880 --> 00:43:09.320
some advice. Even if the advice costs you a bit

847
00:43:09.360 --> 00:43:12.960
of money. You better to get a You better to

848
00:43:12.960 --> 00:43:14.960
pay for that early and find out that things aren't

849
00:43:15.039 --> 00:43:18.039
right rather than pay a lot of money and go, oh, finally,

850
00:43:18.079 --> 00:43:20.960
I'd spent five hundred or one thousand dollars to figure

851
00:43:21.000 --> 00:43:24.039
that out earlier, I would have saved myself a holiday,

852
00:43:24.079 --> 00:43:24.880
held ache and time.

853
00:43:25.960 --> 00:43:28.599
Well, and I just want to remind everyone to subscribe,

854
00:43:28.840 --> 00:43:31.119
leave a review, do all those kinds of good things.

855
00:43:31.679 --> 00:43:35.599
Share this with somebody who's approaching retirement thinking and thinking

856
00:43:35.639 --> 00:43:40.559
about real estate. Right, So any final thoughts, Hadly.

857
00:43:42.679 --> 00:43:44.920
I think that the main thing is, as I say,

858
00:43:44.960 --> 00:43:47.000
go and talk to some people, ask some good questions,

859
00:43:47.840 --> 00:43:50.320
and just remember who's on your side and who's not,

860
00:43:50.559 --> 00:43:53.480
and who's there to sell you some stuff I think

861
00:43:53.599 --> 00:43:57.199
is the key piece. And everyone's going to have an

862
00:43:57.239 --> 00:43:59.400
opinion about real estate, but you need to go on

863
00:43:59.559 --> 00:44:02.039
and find the opinions that the rot ones that they're

864
00:44:02.039 --> 00:44:02.599
going to help you.

865
00:44:04.079 --> 00:44:07.599
Well with that, I want to thank you for joining

866
00:44:07.599 --> 00:44:10.400
me today. This has been enlightening and I hope that

867
00:44:10.480 --> 00:44:13.679
it's been something that really gives people some things to

868
00:44:13.719 --> 00:44:18.039
think about. So read that, thank you and yeah, so

869
00:44:18.159 --> 00:44:20.960
with that, we'll just say thank you so much for

870
00:44:21.079 --> 00:44:24.760
joining the Ask Good Questions podcast and we will see

871
00:44:24.800 --> 00:44:25.599
you next time.

872
00:44:26.440 --> 00:44:32.320
By right, today's episode is over, but we did Ask

873
00:44:32.360 --> 00:44:35.400
Good Questions again, didn't We don't miss out as we

874
00:44:35.519 --> 00:44:39.920
broadcast live every Wednesday, six pm Eastern Time on W

875
00:44:40.079 --> 00:44:44.440
four CY Radio at w fourcy dot com. Joined Benina

876
00:44:44.440 --> 00:44:50.039
bellend'ersing next week for more conversations with experts on finances, retirement,

877
00:44:50.159 --> 00:44:53.480
behavioral finance issues, health and wellness.

878
00:44:52.920 --> 00:44:53.639
And more.

879
00:44:54.039 --> 00:45:01.199
Until then, remember to ask good Questions