Ben Furler

[00:00:00] Speaker A: The best music from the 60s to today. IPL radio. [00:00:05] Speaker B: And we're back with the Per Property Bros where Josh and Carlos. [00:00:09] Speaker C: Big bad Josh. How you feeling, my friend? You were off sick last week. [00:00:12] Speaker B: Yeah, it was. It's getting better, getting better, getting better, getting better. [00:00:17] Speaker C: Yeah. One of those got me for a few weeks, if you recall. [00:00:19] Speaker B: Well, there you go. It's been a while since we've been together, Carlos. [00:00:23] Speaker C: It's been a few weeks. Yeah. We had Darren Meins on the show last week. [00:00:26] Speaker B: Of course. Yeah. How did he go? [00:00:28] Speaker C: Developer Darren is just such a fantastic bloke. Developer, Rotarian, humanitarian, just an all around good man. [00:00:36] Speaker B: I was sad that I missed that one. I thought that would have been a really good one to be. [00:00:41] Speaker C: Yeah, we could have talked for hours. The show could have gone for 10 hours and it would have been exciting. But then actually Darren and I went over to the Rotary Club of Rockingham. Right afterwards we had dinner with the club. [00:00:52] Speaker B: Oh, nice. [00:00:53] Speaker C: So it was good to have another club president in our club as a guest and had a. Gave a bit of a talk about what Rotary Club of Scarborough are up to. [00:01:01] Speaker B: Yeah. [00:01:01] Speaker C: And their contributions to the community. So it was a really good afternoon, mate. I'm sorry I missed it. [00:01:06] Speaker B: There's a. They're quite a big one, isn't it, the one up in Scarborough, thanks to him. [00:01:10] Speaker C: Yeah. It was a dying club that he's taken on and actually started to rebuild. [00:01:13] Speaker B: Nice. [00:01:15] Speaker C: And he's like the. The Rotary version of Carlos in terms of bni. He just brings the. Brings the visitors in and. And brings the members in. [00:01:25] Speaker B: Oh, yeah. Didn't we meet up in the. Was it the Sterling Business association sba. And that one was in partnership with BNI as well, isn't it? [00:01:35] Speaker C: Yeah, exactly. [00:01:35] Speaker B: There you go. And that's. Yeah, I think. Yeah. Now he's a great guy. We're good to. [00:01:40] Speaker C: Oh, he'll come back, he'll come back. So at the drop of a hat, he'll come back and we'll talk properly. [00:01:45] Speaker B: There you go. Yeah, well, at least he took to. Took the drive. [00:01:50] Speaker C: Well, tell me how things going for you, mate. Are you buying them? [00:01:56] Speaker B: Stock is at all time low, obviously. I had a. Interesting one this week. So we put in an offer on a property off market. Obviously we got this property up in Belga, but as we all signed everything, we're waiting on the sellers. Finally after three days, we heard from them and they retracted the offer. So they actually pulled it out. And the reason being was they were advised by their family that in the next two years the property prices are going to go up again. So let's wait for the property price to go up and then we'll put it back on. [00:02:32] Speaker C: And what was your opinion? I mean, I don't know. I wouldn't have my. I didn't bring my crystal ball today. Did you bring yours? [00:02:39] Speaker B: Neither have I. So, you know, like she had a situation, Right. So we were going to work with her. So she had to actually sell because she wanted to buy land and build and she needed an investor to buy so that she can rent back. So we actually rent back and even gave her, obviously we wanted market value for rent, but also at the amount that she wanted. So we accepted everything. [00:03:04] Speaker C: That's a real shame, Josh, because. Yeah, look, say if what the family said, the property market goes up, what her plans are going to be? That they're going to be more expensive as well. Cost of land, cost of building. [00:03:16] Speaker B: Exactly. [00:03:17] Speaker C: So she wouldn't, wouldn't be in no better position in two years than she is now. In fact, in two years she'd probably be already built and, and living there and ready to go. [00:03:25] Speaker B: And we were willing to, you know, come to her terms. And yeah, it's sad. [00:03:30] Speaker C: That's a real shame. [00:03:31] Speaker B: And actually there was another thing that I faced interestingly as well. We were also looking at another property. This was an off market property as well. And there was a tenant in the property. But the tenant made it her mission to make it as difficult as possible for anyone to get into the house. And even if they were in the house, she. Yeah, she was just being a little bit difficult. Right. She has two kids. The house was not managed well. So I mean, I can understand single mom, you know, with two kids is hard, but in a way, when we say we as an investor, we're going to buy into that property, essentially you're kind of going into an interview, are you not? Right. Because we're going to buy this property. You're going to be the tenant. We want to make sure that you are taking care of the house. [00:04:23] Speaker C: Exactly. [00:04:24] Speaker B: We want to make sure that it's a good tenant, they will keep the place. Well. And you're easy to work with. [00:04:32] Speaker C: Yeah. Because that's your key to staying there, isn't it? [00:04:35] Speaker B: Exactly. In a very tough market that, that, you know, people are finding it hard to get rentals. A lot of people are getting evicted as well at the moment and finding it hard to get into the next one. But if you are not going to play ball, what do you Think my advice would be for my clients. Yeah. Because there's still a lot of people still looking for a place. [00:04:58] Speaker C: Get some. But get the attitude out and get a good tenant that really appreciates it in that will look after it and potentially pay more rent. 100 look if she was. [00:05:08] Speaker B: It's very short sighted. That's what I'm trying to get at. You know, if you're, you know, you want to make sure you're in your best behavior. You want to make sure that you know the place is kept nicely and you don't want to show that attitude towards a person who's about to buy a place. [00:05:24] Speaker C: It's. It's a sad thing man. It's actually one of my, my worst nightmares as a selling agent. Whenever I get a property to sell that has a tenant in it I just have a bit of a quiver. I just think I hope they're a good tenant because there's so much that can go wrong if there isn't a good tenant in place. Not only do I have to inspect the property which means they've got to allow access. I need to convince them that I'm going to run some homeopaths which means having people through the house, that can be hard. I understand. It is also part of the contract. It's part of the lease contract that you allow a sales process if it occurs. But then I need access again for a building inspection and again for another settlement inspection. We need to play together and a difficult tenant can potentially say no or I can't or not answer the phone. Make it difficult and a lot is at stake. If a property has been advertised with a home open, I've got people at the door and the tenant doesn't play ball. But you're absolutely right. It is the surefire way to get yourself a victim. Yeah. [00:06:33] Speaker B: 100%. [00:06:34] Speaker C: Yeah. Because attitude problem goes a long way. Years ago when I had a rent roll cause I used to have a rental business only before my sales business. That's the sort of thing that I stamped out very quickly because there's a lot that, a lot of back and forth in the relationship where we need to work with each other and if there's somebody there that's very difficult, we don't want them there. You know, we'll find somebody else that actually wants to be there, wants to work with us and the landlord in any process. So. Yeah, well I'm sorry you sorry you went through that mate. Sometimes even a cup of coffee and being extra nice just won't cut it with these people. [00:07:12] Speaker B: Yeah. It's just find it very interesting especially in this tight market. You still feel, see people doing that. [00:07:18] Speaker C: And you can't actually say that. I mean you and I can talk about that professionally but you can't say that to the tenant directly. Look, if you don't behave, we're going. [00:07:24] Speaker B: To give you 100%. [00:07:25] Speaker C: No, it's quite unprofessional. Say it. But, but it is, it is where it all adds up to. If, if they don't have a good attitude and they're not looking after the place, why would your investor want to keep them there? [00:07:39] Speaker B: Exactly. [00:07:39] Speaker C: You know, they're being detrimental to the value of the place. [00:07:43] Speaker B: Correct. [00:07:43] Speaker C: Yeah. So there you go. You get all sorts, don't you? [00:07:46] Speaker B: You get all sorts. And that's the thing I just find, found it funny and also found it like hard like you know, it is a single mom. I can see she's struggling a little bit. [00:07:56] Speaker C: Yeah. [00:07:56] Speaker B: You know, and I wouldn't want her to be out of place as well because then imagine now she will have to. Apparently they've already issued an eviction notice because it was, it was hard to get and manage all the home opens and stuff. Like I said, she didn't do herself any favors. Exactly. By doing that. Now she's going to have to look for a place. She probably will have to pay a little bit more. [00:08:20] Speaker C: Pay more rent. She's going to need a reference. [00:08:22] Speaker B: She's going to need a reference. Exactly. [00:08:24] Speaker C: They're short sighted about. Because you're going to need a reference from your current landlord or agent that you're a good tenant, looked after the place. And then property managers talk too. They talk shop behind the scenes about, you know, what's the person actually like? Can we work with them? Are they, are they good people? Are they nice? [00:08:41] Speaker B: And this, this is the reference check. Right. This is the one that, you know, they always give you two references that you're supposed to call and that's what the property manager does. Yeah. [00:08:49] Speaker C: This is what comes up. [00:08:50] Speaker B: Yeah. [00:08:51] Speaker C: So best to just all work together and play together nicely in the sand pit. You know, people need to sell sometimes for whatever reason separation or markets moved or interests have changed and you know, we want to be able to work together. [00:09:06] Speaker B: Correct. [00:09:07] Speaker C: You know, so for the most part, Josh though when I get a tenant, they're fine. You know, we try, you know, we bring our experience to the table and try to relate to people human to human and explain that this is how it all works. We're going to be Very respectful through the sales process as you as well through the buyer's agent process. And we'll do the best we can to, you know, leave them at peace. [00:09:31] Speaker B: Make it a smooth transition. Smooth transition, yeah. [00:09:34] Speaker C: Secure their future. [00:09:35] Speaker B: Yeah. [00:09:36] Speaker C: If it's going to be an investor to purchase the place, you know, it's probably in their interest. [00:09:40] Speaker B: Yeah. I remember this property of yours in East Pick Park, I think the one we bought. [00:09:45] Speaker C: Oh, yes. [00:09:46] Speaker B: And then I remember the tenon was not playing well a little bit to begin with. And then after that we. We got the owners, the new owners, in the final inspection in. After all that walk around, we managed to come onto our other side and she was obviously talking with the. With the new owners and the new owners were having a chat with her as well. And she had. The thing was. Oh, so are you going to drop our. Drop my rent. [00:10:08] Speaker C: Drop the rent. [00:10:09] Speaker B: This rice. I mean, she can ask. [00:10:14] Speaker C: Have a go. [00:10:14] Speaker B: You can have a go. You can see the owners. Oh, that's what the market says. [00:10:20] Speaker C: That's an interesting concept. That was an interesting tenant though, actually, because she was a landlord herself as well. [00:10:28] Speaker B: Yeah, she was. [00:10:29] Speaker C: She owned a property in Kalgoorlie. [00:10:31] Speaker B: Ah, yes. [00:10:32] Speaker C: And she had tenants and, you know, she needed to sell as well, so she. She was on both sides. [00:10:38] Speaker B: Interesting. All right, all right, let's go into a bit of break, shall we? Now, let's talk about what happened, what's happening with the 5% government guarantee scheme and what's it done to the market? [00:10:47] Speaker C: Let's do it. All right. [00:10:49] Speaker A: The best music from the 60s to today, IPL radio. [00:10:54] Speaker B: And we're back for the Bird Property Bros with Carlos and Josh this time. I started with Carlos. Did you hear that? [00:11:01] Speaker C: I did hear that, yeah. It doesn't worry me, mate. This is your show. [00:11:04] Speaker B: Excellent. [00:11:07] Speaker C: It's only my show when there's issues and I've got to deal with them. [00:11:11] Speaker B: Well, someone has to do it. I can't run the show and deal with issues as well. [00:11:17] Speaker C: You get to look pretty. [00:11:18] Speaker B: There you go. I stay in my lane, man. Yes, I do. [00:11:24] Speaker C: Weren't we over the break, staying in your lane and what that entails? So before we keep going, Josh, I just wanted to give a quick shout out to the Rotary Club of Rockingham. We're running a Mind the walk event on the 2nd of November coming up very soon. It's going to be held at Rotary park and it starts at about 8:30am, so best to get there about 8:00 o' clock in the morning. So it's Actually, so it is an event for mental health and one of our Rotarian partners, Davinia Reed, this is her brainchild to get people out and about. So we've created like these cultural tours where people can leave from Rotary park at about 8:30 on the 2nd of November with a group. [00:12:07] Speaker B: Yep. [00:12:08] Speaker C: And it'll be about a 5 kilometer walk and you'll go from heritage site to heritage site around Rockingham, big loop back to the park with a, with a guide and you'll get to learn a heap of stuff about Rockingham, its history, points of interest, just, just really interesting stuff. So the, the first guided tour kicks off about 8:30 and then the next one in the next half hour and sort of people, people trickle back to the park. But at the park there's going to be heaps of events, attractions. There's going to be Musician West Oz Wildlife is back. Last year we had the Koala and the snakes there which was really good. Greyhound adoption wa. There's going to be some face painting for the kids. Raffles Margaret River TU is going to be there of course, which is our gifting service. Boot camp, swing dancing, castaways, sculptures by the sea will be there. Yoga, it's just a fun morning as well. There's going to be a lot of stalls there, mental health stalls, community stores. City of Rockingham is going to be there. It's actually a really big event. It's been running for years now and coming up on the 2nd of November. So if, if anybody's free. [00:13:20] Speaker B: Excellent. [00:13:21] Speaker C: On Sunday 2nd of November, pop down to Rotary Reserve park in Rockingham and yeah, grab a snack, grab a coffee and go for a walk around Rockingham. [00:13:30] Speaker B: So obviously it's a free family event, isn't it? So everyone can kind of walk up. [00:13:34] Speaker C: Well, the event at the park is free. Anybody can go there and, and take part in the, the cold, the, the walks. I think the tickets are about $20 to go on the walks. [00:13:45] Speaker B: Nice. How long is the walk? [00:13:46] Speaker C: Oh, it takes about an hour and a half I think once they stop and talk. And last year we had these, had headphones for everybody and they could hear the guide as they're walking. It was quite lovely. It's usually a lovely day. It's getting into the warmer weather, the nicer weather. So yeah, mind the walk. Sponsored by the Road Trip Club of Rockingham Palm beach and Bell Divers. It's a group effort. [00:14:10] Speaker B: Excellent. Would the property bros be there? [00:14:13] Speaker C: Well, I will certainly be there as a Rotarian, but I'd love you to be there. [00:14:18] Speaker B: Yeah, There you go. [00:14:19] Speaker C: IPL radio has been invited to be there. [00:14:22] Speaker B: Maybe we need a booth for the property. Bruce over there. Yeah, you should open up a boot. There you go. [00:14:27] Speaker C: That's a good idea. [00:14:27] Speaker B: And we'll have a good chat with all our local Rockingham people. [00:14:31] Speaker C: Exactly. [00:14:31] Speaker B: There you go. [00:14:32] Speaker C: Exactly. All right, so mind the walk. 2nd of November, 8 o' clock start kicks off at 8:30 at Rotary Reserve Park. [00:14:40] Speaker B: Full day, isn't it? [00:14:41] Speaker C: Sorry? [00:14:42] Speaker B: It's a full day event. [00:14:43] Speaker C: Oh, it'll probably be finishing about lunchtime. [00:14:46] Speaker B: Excellent. [00:14:47] Speaker C: So it's nice. It's a good morning out with the family. [00:14:50] Speaker B: Nice. All right. So before we went on break, we said we were going to touch a little bit on the 5% government guarantee scheme. What are you seeing, Carlos? [00:15:02] Speaker C: I think people are telling me everything's gone up about $50,000 like from the day of prices have just gotten more expensive and the market got more competitive for buyers. [00:15:12] Speaker B: Yeah. [00:15:14] Speaker C: And it just kicked in at the worst possible time when property stocks on market at an all time low, basically. And all of a sudden it's easier for people to access properties which it needs to be in place. Don't get me wrong. I just think it's a bit of a perfect storm to kick in at the same time we've got low stock. [00:15:32] Speaker B: Yes. I think it's the worst thing, worst possible combination. I think, you know, you have these low stocks which is, you know, so we still have a high demand with low stock which is already driving prices up. Now let's throw in a 5% home guarantee scheme and guess what happens? Is the price going to go down? Hell no. [00:15:54] Speaker C: No, no, no. It's just going to create more demand. [00:15:57] Speaker B: More demand. In fact, houses are being snapped up a lot faster. In fact, a lot of the inspections that we go to, lines are getting longer, you know, especially in that bracket, the 600 to 850 bracket that those are the ones that obviously everyone's fighting for, especially the first homeowners. [00:16:16] Speaker C: So even the last few properties that I've sold, I thought I sold them high and that's my job. I thought I sold them high. But then by the time we've gone through the contract process and leading up to settlement now this month, I'm looking at the prices again and I'm thinking, actually you didn't buy too bad. Yeah, it's like the market caught up and surpassed what these people bought for. [00:16:38] Speaker B: Remember the one in Nashville that you sold? You've been beaten, man. [00:16:41] Speaker C: Yes. [00:16:42] Speaker B: By 150, I think. [00:16:44] Speaker C: Wow. [00:16:45] Speaker B: There you go, well, the record did. [00:16:47] Speaker C: Sit on the market for about 18 months, so that's not. Not a bad effort. [00:16:50] Speaker B: It is. So I think it's claimed by the professionals at the moment. [00:16:54] Speaker C: That's all right, mate. We wa. Property sale set a new record in East Virginia park, where we've got a hundred thousand over for a unit there in the complex at Hubert Street. [00:17:04] Speaker B: Yes. [00:17:05] Speaker C: So I'm about to flood all those complexes with. With flyers saying, record, record sale by 100 grand above. Above what they were all selling for. In fact, I've got another unit for. For sale in that same compost. [00:17:17] Speaker B: Another one? [00:17:18] Speaker C: Yeah. [00:17:18] Speaker B: Okay. [00:17:19] Speaker C: It'd be one of the top ones this time. So. So, yeah, mate, we do our best, don't we? [00:17:24] Speaker B: You do. You actually do a good job for everyone. Yeah. And obviously hitting record prizes, which is amazing. [00:17:31] Speaker C: But look, I don't think that's extraordinary. I think that. I mean, I do my job well, I try to do my job well. I think I get good prices for people, but I think everybody's paying high prices. You know, I don't think we can really claim that, you know, we're so amazing. [00:17:48] Speaker B: Again, I think we've created that perfect storm in itself. Yourself, you've created the full formal again out there. You know, again, everyone is. If you've got 100 people lining down the street, everyone's looking at each other and say, oh, no, they're going to bid higher than me, you know, and if an agent keeps saying, yeah, you're still not the highest bidder, what. What would happen? You're just going to keep putting up until you max out your affordability. [00:18:12] Speaker C: Yeah. There's so many buyers at the moment. [00:18:14] Speaker B: Yeah. [00:18:16] Speaker C: We need to let people know what we. What we're selling for that give them a really good idea. But there's just so many buyers competing. [00:18:23] Speaker B: They are. And, you know, to, you know, the reason why I brought that up as well. So, yes, to your point, yes, house prices have shot up, you know, they've gone up really well, actually. I didn't even do the reverse test today. I'll actually look it up in a. [00:18:37] Speaker C: Bit, but I think they went up 50 grand just that day, the day that the incentive came out. [00:18:42] Speaker B: Well, it came out in the news. So there's these two properties in Balgo. These are Ronnie's, you know, Ronnie Singh, he's the professionals up in Belgium and he's doing really well up there. So he's sold two properties, three by twos, one a three by two and another one. So he's doing two direct equal comparison. All right, so like apples with apples. So one sold in May for 600,001 just sold late September. That was just before the incentive kicked in. 60,000 more, you know, so it showed how much. And in fact, I've been getting a lot of calls prior to that first 5% home guaranteed scheme. And it's not by first homeowners, by investors, because they are trying to get in there even before a first home buyer gets in. And then now you've created this storm where you've got first home buyers competing with investors to try and buy at the moment. So it's not a best place for an investor, especially if you're looking in that bracket, you know, the 600 to 850 bracket at the moment, because you're competing with every first home buyers that are out there. [00:19:49] Speaker C: I'll tell you one thing though, Josh. I mean, so the guarantee scheme basically means that people need a 5% deposit. So they're going to get a loan for about 95%. They don't have to pay more business insurance. Now, if that came to me as an agent, a selling agent, as an expression of interest, where I've got a young couple or a first home buyer putting this scheme in front of me, I could have 10 of them. All of them are getting a 95% loan. And then I could have another one or two or three that are only borrowing 80% or 70%. My recommendation to the seller, even if the price is lower, my recommendation to the seller is to look at the one with the lower, lower risk. [00:20:34] Speaker B: Yeah. [00:20:34] Speaker C: You know, they're only borrowing 80%, they're only borrowing 70% just because they've got their pre approvals in place at 95%. To me, that's still a risky contract. It is to go into. [00:20:45] Speaker B: It is. And I find that agents are also dealing with buyer's agents a lot more, especially in the first home buyers space. Because obviously buyer's agents are vetting the clients before we even go in. [00:20:57] Speaker C: Right. [00:20:57] Speaker B: Because you go in, you know, they're serious. They know we will make the deal happen. [00:21:01] Speaker C: That's a good way to look at it. I think if they're paying you to look for them, then you're a serious buyer. [00:21:06] Speaker B: Yeah. And you know, the other day fees came up. You know, we're talking about fees. What's an agent sort of fees? Roughly about 2%. Yeah. [00:21:14] Speaker C: 2.2. Some agents you might get 1.1. Others, you know, depending on the area, going as high as 3.5 to 4%. [00:21:24] Speaker B: I guess, on average, we're talking about 2%, right? So say, yeah, let's say 2%. Now, say about a good buyer's agent takes you on, you're charging roughly about 2% as well. Now, last month alone, the market moved about 1.6%. All right. They pay for themselves, effectively. [00:21:41] Speaker C: Yeah. [00:21:42] Speaker B: You know, if you're on the market and you're waiting for a month and a half for a property, effectively, you've made up the agent's fee. [00:21:49] Speaker C: Yeah, there you go. People don't look at it that way. [00:21:52] Speaker B: They don't look at it that way. So it's. It's hard. That's why it's very hard to, you know, mention that. I find that always with people in wa, they still find it really hard because one is they still can't imagine paying these prices that we're seeing at the moment. We are still pre Covid days. And, you know, they can't justify that. You know, even I had a conversation recently. It's like, so, Josh, can you drop the price down for me? I said, well, I don't have my crystal ball and I don't have this. You know, it's not always about bringing down the price as well. If we can do that. Yeah. It's about getting in, giving you that access to all the other properties, making sure you don't buy a dud. Like, you know, the other day I went and remember that what I tell you, told you about the single mom one? The house was bad. Like, you know, it had cracks everywhere, floors were out, there was water through the walls and everything like that. But I'm seeing it prior to it being done up to go into the market. Now, the agent also did mention to me, all right, if we don't sell it off market, we're just going to touch it all up and put it on the market. So you're not seeing what the house has gone through. Right. So now you're just being touched up. Now it's beautified. Now it's going on the market. [00:23:07] Speaker C: It's interesting that you bring that up. Just going back to our earlier conversation before the break. We're talking about difficult tenants sometimes when we're. When we're trying to do our job. And you've got this lady here that you've just talked about the state of the home. Now, that can't make her too happy. You know, over the course of time, maybe she's complained a lot to the agent or to the seller, and they've not Fixed it. They've not listened to her. So you've got to play ball on both sides, you know, the landlord, but also the seller. I'm not saying it happened in this case, but, you know, if they do everything, if they provide a neat and tidy, clean livable home that, you know, everything's in good order, I mean, the tenants going to be more likely to be happy with them. [00:23:50] Speaker B: Correct? [00:23:50] Speaker C: Yeah, they're more happy to, you know, so it isn't just painting a picture of a difficult people, which there are out there. It's. I mean, I only say this too, man, because I went to a property the other day in Brentwood to look at a rental property for a friend. [00:24:04] Speaker B: Yeah. [00:24:05] Speaker C: And I could not believe the state of it. I could not believe what the agent was taking to market as a rental. There was just safety issues absolutely everywhere. The deck was rotten, visually rotten from the very. Before you even walked onto it, you could see it was rotten. It was like a little trampoline. Those cracks you could. I could almost put my hand through. And, you know, one feature I thought was like the, the alarm, the alarm connection, which was burnt, where the alarm connected to the wall, it was burnt. It was like a. It's like a heat burn. [00:24:37] Speaker B: Yeah, yeah. [00:24:38] Speaker C: And the agent was just there telling me, oh, the alarm doesn't work. And I'm looking up at this going, the alarm didn't work because the house almost burnt down, you know, but, yeah, I just can't believe that that property was becoming available to rent. And there was people there. There was people there. They were asking, I think 480 a week, which is still a lot of money, even though the house is not an amazing home. There was a lot of safety issues there and a lot of just issues that would affect you of general happiness and livability, you know. So, yeah, you have to consider all sites. [00:25:11] Speaker B: 100. [00:25:12] Speaker C: Absolutely. [00:25:13] Speaker B: Yeah. No, that's good. All right, should we go into a bit of break and then what are we going to talk next, Carlos? Sorry, what are we going to talk? [00:25:22] Speaker C: We're going to do an in depth, deep dive into what a buyer's agent actually does. Actually, just going back on your point earlier, I think that your, your value as a buyer's agent really shows in the, in the disaster aversion that is part of your job. I mean, there's people that are about to buy really bad properties and you come in and say, well, no, look, I've done the due diligence, I've done the research and don't buy this place because it's got an easement or you're going to have to spend all this money. You help them avoid enormous disasters if they bought that property. It's an insurance policy as far as I'm concerned. [00:26:01] Speaker B: It is, yes. [00:26:02] Speaker C: Dealing with a buyer's agent. So let's talk about that. [00:26:04] Speaker B: There's another one, obviously. We have also got our guests coming in later. Ben father, a mortgage broker. [00:26:10] Speaker C: Good. [00:26:11] Speaker B: Yeah. So you'll be another interesting one to have a chat with. In fact, we can explore the 5% home guarantee scheme and see what's happening in the mortgage broking space. [00:26:21] Speaker C: We get a lot of mortgage brokers. [00:26:22] Speaker B: On our show, don't we do get. [00:26:23] Speaker C: A lot because we know a lot of them. We're going to change this to the Perth Property Bros. And mortgage brokers. And mortgage brokers. [00:26:29] Speaker B: All right, do a bit of a break. And you're listening to the Perth Property Bros with Josh and Carlos. [00:26:36] Speaker A: The best music from the 60s to today. IPL radio. [00:26:41] Speaker B: And we're back with the Perth Property Bros With Josh and Carlos. And Carlos, tell us how was your weekend? [00:26:52] Speaker C: Perth Property Bros With Josh and Carlos. Carlos and Josh. Does it make a difference, mate? We're all pretty awesome here, aren't we? [00:26:57] Speaker B: Yeah. So how was your weekend, Carlos? I think on the Sunday you ran the Mr. [00:27:03] Speaker C: Perfect barbecue again. Yeah. [00:27:05] Speaker B: How was it? [00:27:05] Speaker C: Great, great event, great turnout. We're back on the beach because the last couple of months we've been at the dome, bad weather, rain, windy, that sort of thing. And I get such great feedback from, from the guys that show up to that thing. Now for the listeners that know about the Mr. Perfect barbecue, it's just a get together for men because men connect differently when they're there. They don't have ladies around. Just like there's a lot of female only events, female only gyms, female only sacred feminine events. This is just a little thing that we do where just the guys come together, have a few snags and just have, have a few chats and it's just amazing what the, what the men actually talk about. They go really deep and yeah, it was just a great event. The guys were great. We're happy to be back on the beach again because we, like I said, we've been in the, at the Dome we had about 20 guys turn up and look, it ran really well. Ran really well. And we're back again of course on the second Sunday and this barbecue runs in Safety Bay across the road from 436 Safety Bay Road and the Safety Bay Foreshore there. There are a few other barbecues around Perth but they're generally on the north side. Motherloo, Fremantle, Mainlands, Cannington. This one's on the far south side. [00:28:19] Speaker B: And this is the one that you take care of. It's your baby, wasn't it? [00:28:22] Speaker C: Yeah, this one's my baby. I was only talking to a very good friend of mine, Jackie Wickham from Margaret river to you this morning and what I've noticed, Josh, I mean I'm wanting to bring you into the Rotary family. Of course, all if I say most Rotarians all have a passion project, something else they do outside of Rotary that's just theirs, it's their own. It's what they believe in, it's what they, they put their heart and soul into. Mind the walk. See this Mind the walk event that's coming up, this is run by Davina Reed. We've just sold her property. Very good friend and. But that's her passion project. Mine is Mr. Perfect. There's another Rotarian that, that runs a finance for developing countries. There's other Rotarians that deliver aid to Timor Leste or work on the n Polio project. The Rotary has almost single handedly gotten polio down to almost nothing across the world. Just a couple of countries left where it's hard to vaccinate young kids that they're still having a little bit of trouble. A few extra cases reported every week. But yeah, rotating is a passion project and mine is Mr. Perfect BBQ for Men's Mental health. And it was actually a great event and like I said, great and positive feedback from the men that attend. [00:29:45] Speaker B: So I've been to yours, I think twice I think and it's not just for any one age group. I saw people who are really young. In fact you had someone really young, like an apprentice who was helping you out, doing the same snacks and handing them out right up to someone who's really old. [00:30:01] Speaker C: Yeah, that was really cool. Yeah, it was, it was a couple of kids from the local high school, you know, connected to Rotary and they would, they were doing community service as part of their school projects or requirements for their age group and they had to do 20 hours in the community. Right. And so they came to help me at the barbecue. I had them on the tools, turning some snags there, serving up some drinks. They also came to the, the Rotary market and gave me a hand there to run the market which was really good the week prior. So it's good to see these kids involved. They can see what, what we're doing and why we're doing it, you know, that's good. [00:30:40] Speaker B: Sorry, man. It's not just for anyone age. Like, you get a variety of age groups, not just the kids. I mean, the kids. Yeah, but you get someone young, like in their 20s. [00:30:49] Speaker C: I've had a few teenagers show up, a few people in their 20s. The average age brackets seems to be mid-30s to mid-40s. Then we have our retired gentlemen that are probably from 60s to their 80s. So it's quite varied in terms of ages. And the older ones are the ones that fascinate me because they've got some war stories to tell. They really do. They've got so much wisdom. And this is the whole. One of the biggest reasons this barbecue runs. These men are alone, you know, especially the older ones. They're isolated. Maybe their wives have passed away. Whatever circumstance life has sort of given them, they may be alone, maybe not have their kids around. So they're quite isolated and they've got stories to tell, they've got wisdom to share, things to teach and nobody to teach it to, nobody to talk to about it. So they come to these barbecues and make friends again. Yeah, you know, and this was one. [00:31:47] Speaker B: Of the reasons why I enjoyed my work previously as a radiation therapist, obviously, you know, I used to work in the hospital, of course, so obviously as a radiation therapist, you handle a lot of patients with cancer and a lot of them tend to be elderly. And I used to love to listen to all their stories, you know, the. Especially, you know, the ones that goes. They have gone to the Vietnam wars and stuff like that, and they will actually come and say, tell the stories of what they used to do. Some used to be in the. In the Navy. Some used to be the pilots. Yeah, Very interesting stories. It's not. I mean, not just the army stories, but life stories. [00:32:22] Speaker C: Oh, yeah. [00:32:25] Speaker B: So much to share. And it's very interesting. And if you give them the year, they will talk and they will tell you everything they know, which is very interesting. And obviously then the patients, when they come in, they're not. They're not there once or twice. It's a treatment that goes 30 to 40 days, right. And so you're seeing them every single day. You get to know them really, really well. [00:32:46] Speaker C: You get to know them, you know, the saddest thing mate with our elders is that we lose them. They pass away. And their stories and their history, their journey just disappears. So a very good friend of ours, Kelvin Ha, the cinematographer, is actually working with a project in conjunction with the City of Melville, where they're preserving these stories. It's an amazing project. I popped in to see it a few weeks ago over at Wireless Hill and they've created a digital map, so far only of the city of Melville, but they've got plans to extend it to all of Perth and hopefully to wa, then hopefully gets traction back into Australia. And in principle, there's a map of the city of Melville and then you'll see these little, little markers all over the map. If you click on this marker, you'll zoom in and you'll get a story, an interview with an ella with an. With an older person that is talking about something that happened there in that spot. Whether they're talking about an event or they're talking about what it used to be like. You know, some of these guys were talking about when, you know, the old Cannington Freeway used to be just a single lane or when it was just all bush headed out past, you know, you name it Melville, all the way to the. To the east, all bush. And these places weren't developed yet. So they've got this, these stories, these unique perspectives that are being written down. They're being interviewed and preserved. [00:34:21] Speaker B: Interesting. [00:34:22] Speaker C: I love that stuff. I absolutely fell in love with that project. It was, it was, it was quite a visionary project. [00:34:28] Speaker B: Nice. [00:34:28] Speaker C: And be good to see it, see, see it expanded before we lose more of them. [00:34:34] Speaker B: Is that going on at the moment or. [00:34:37] Speaker C: Yeah, it's an ongoing project. Yeah. [00:34:39] Speaker B: Interesting. [00:34:41] Speaker C: They're just interviewing the. The constraints with it is the time to actually do the interviews before you upload it. So I was giving Kelvin a few pointers and just ideas, I guess, on how you can sort of automate that process a bit more and get people to upload their own stories and then pin them to areas of Perth. But it's a great project. [00:35:02] Speaker B: I think when you mentioned it last time, it sounded really good. Yeah. [00:35:06] Speaker C: And that's when we talk to these, these older guys at Mr. Perfect. This is the sort of stuff that comes up. Their international experience, the things they saw, the people they've met. Yesterday's heroes. Really. [00:35:21] Speaker B: Yeah. [00:35:22] Speaker C: But, yeah, it's platforms like this that allow the stories to flow. [00:35:26] Speaker B: Yeah. [00:35:27] Speaker C: And the connections to be made. [00:35:29] Speaker B: Interesting, isn't it? So all these different things that we do. But how do you say lots of positive comes out of it? [00:35:37] Speaker C: Exactly right. Exactly right. I think you'll find that, like I said, with most Rotarians. [00:35:42] Speaker B: Yes. [00:35:44] Speaker C: So when are you going to join? Right. [00:35:45] Speaker B: Through Josh, I've filled up the form. It's Just a matter of handing it in. [00:35:52] Speaker C: Oh, we got to push you over that threshold. [00:35:55] Speaker B: Oh, you know, with family and kids, sometimes you're still juggling that. It's. That's the hard part. That's why it took me a while to join bni. Yeah, it took me a while just to put that foot into bni. But now that I have, it's been great, it's been a great journey. [00:36:11] Speaker C: But yeah, as a property professional, I've seen you grow. It's been, it's been quite amazing, man. You've done very well. And yeah, your experience as a buyer's agent has just, you know, gone through the roof, which is why that's what I was going to ask you. Just, you know, where you. We were talking earlier, what we're going to talk about. Well, let's talk about you for a minute. [00:36:30] Speaker B: Change the topic a bit. [00:36:32] Speaker C: Yeah, well, it's a property show. Let's talk property. [00:36:34] Speaker B: Yes, yes, we shall. [00:36:37] Speaker C: But we touched on the point of about how you can save people from a very, very expensive disasters. Your job is to do part of your job, do the research, do what's called the due diligence. [00:36:48] Speaker B: Due diligence, yeah. [00:36:49] Speaker C: Can you talk a little bit about that? Due diligence, what does it involve and why is it so important? [00:36:55] Speaker B: Due diligence, I guess when someone buys a property nowadays, how long do they really take to, to make a decision? So I was reading up this paper one day and they're saying that people tend to walk into a property, have a look at it and within. Obviously it's a very tough market at the moment, so doing a quick lap around the property and already throwing in an offer and it said on average is between three and 10 minutes. That's how long it takes for you to make a decision to build, to buy a million dollar property which could possibly be one of your biggest, biggest investments in your life. But there are lots of things to also look out for in the property. [00:37:35] Speaker C: Right. [00:37:36] Speaker B: Which could potentially go wrong. You know, like structure is it, you know, like people don't forget to take the building and pest inspection box. You've got the financial clause. When you talk about due diligence, you're talking about easements, you're talking about zonings, what else can you do to the property? So it's not always about just if you're looking at an investment, we want to see what else can I do with the property. Certain zonings will not allow you to subdivide, but could I add a granny flat into that property, if there are easements on the property, what can I do and not do on the property? Those are all the kinds of questions that we need to ask before we make that decision, whether we. Before we buy a lot of people that I know. There's one client that I was trying to have, and he was like, oh, Josh, I want to buy. This is 700 square meters. I could subdivide it and do this and that, but when you actually looked into it further, it's not actually zoned to be subdivided. So if he had bought that property, he would have been stuck with a big piece of land that he couldn't do anything on. I said, all right, but you could potentially add a granny flat on this, you know. So what I'm saying is it's. It's not always what it seems. Just because I've got a big piece of land, I could do something on it. I've got one that I'm currently helping that wants to buy Anchorage. [00:38:59] Speaker C: Oh, yeah. [00:39:00] Speaker B: You know, wants to buy an Anchorage. He wants to put a few animals on there, and he wants to do an Airbnb and he wants to subdivide and put a few houses on it. Very industrious, very, you know, you. I don't mind putting the water connection and all that, so. [00:39:17] Speaker C: All right, cool. [00:39:17] Speaker B: Let's have a look at it. [00:39:18] Speaker C: So that's it. That's set all this up. [00:39:20] Speaker B: Yeah, let's have a look at it. Right, so if we actually look at the land that he was looking at, it was designated rural. So obviously you and I know when it's rural, you can't do that. It has to be one dwelling on it. It's. It's. It's fit for purpose. Right. So it's meant to be where it's meant to dwell into that area, your, you know, the animals that can go into it. I think that's what, one cow per acre or something like that? [00:39:45] Speaker C: Yeah, it's horses, then. To be licensed. [00:39:48] Speaker B: Yeah, it needs to be licensed. [00:39:50] Speaker C: Did it have water? Is it access to water? Can you get a water license? There's so many. [00:39:55] Speaker B: It's a lot of things to think about, and obviously there's lots of data out there. We can obviously find them quite easily. But the best people to talk to are the local council. They will actually tell you what you can and cannot do, and that's how we kind of work. So obviously your first point of contact would be your local council, of course, to have a chat with them. They're pretty helpful in General terms, they are very helpful. And I found that there's a property that we were looking at and there's this piece of land. Right. And. And I called the council and it's like, oh, this land again. [00:40:34] Speaker C: The council said that. [00:40:35] Speaker B: The council was saying that. So you're saying that. How many people were actually calling to say, you know, calling to inquire about this land and saying that that many people were actually interested in it. [00:40:47] Speaker C: Yeah. [00:40:48] Speaker B: And when I called to ask about it, it's like, oh, my God, this land again. Why is this always on my radar? [00:40:53] Speaker C: Yeah. [00:40:54] Speaker B: You know, so again, it was a big piece of land. It had. I think this was down in Armadale. [00:40:59] Speaker C: Okay. [00:41:00] Speaker B: It was about a thousand square meters. Already has a house on it, but. And I think it was being redesigned because of the trains and all that they were coming on, so they was redesignated to have apartments and stuff. [00:41:11] Speaker C: Okay. [00:41:13] Speaker B: But the client of mine who wanted to take that on the first time, investors. And we're like, oh, we've got big plans. We can get investors together. So I actually put out a proposal to them saying, okay, this is what you can do on this land. This is what you're kind of looking up the amount. The sums you're kind of looking at. After that, the client went quiet. [00:41:30] Speaker C: Right. [00:41:31] Speaker B: Quiet. Because then when they found out later on, it's like, all right. Because they actually never took into account the kind of amount of expense that needed to go in. [00:41:39] Speaker C: Yeah. [00:41:40] Speaker B: The things that he initially wanted to do on the property he now can't do. [00:41:44] Speaker C: Okay. [00:41:45] Speaker B: And an apartment is too much to take on for him. [00:41:47] Speaker C: Sure. We had this conversation with Darren last week about the enormous expenses. [00:41:53] Speaker B: Yeah. [00:41:53] Speaker C: Attached to doing anything in terms of changes and building more than one dwelling, managing more than one block of land. [00:42:00] Speaker B: Yeah. [00:42:00] Speaker C: But you saved one of my referrals to you. You saved them from spending a lot of money making a very expensive mistake up in Geraldton. [00:42:07] Speaker B: Yes, I did. [00:42:08] Speaker C: She had a fantastic idea of, let's just put a dwelling there. I'll get some rainwater, solar panels. [00:42:16] Speaker B: We will. Yeah. Get run off the rainwater and stuff like that. And then when we actually delve deeper into it, it actually needed road access. There was no water connection nearby. So it was very close to Geraldton where they had the nearest water connection. So if she ever wanted one. But it didn't actually matter to her because she wanted rainwater. Right. So I actually called up one of my friend that's living up in Geraldton, like, hey, when was the last time it rained up In Geraldton. I said, oh, not for the last nine months. [00:42:48] Speaker C: Right. [00:42:50] Speaker B: I said well that's not going to happen. [00:42:51] Speaker C: That's not going to happen. [00:42:52] Speaker B: That's not going to happen. [00:42:53] Speaker C: It would have been a condition of development for me, them to put. For her. Put the ride in. [00:42:57] Speaker B: Yes, exactly. That was part of the, part of the condition. [00:42:59] Speaker C: And how expensive would that have been? [00:43:02] Speaker B: So they couldn't give me a rough estimate as well. So there was like a kind of an off road kind of thing going on which was quite easy. And they said, well, I can see it here but we are not going to guarantee it because it goes onto the main freeway which means you have to go dangerous around. So they said you might have to go around and if you were to go around, there was about 800, 800 meters worth of road that she would have to build. [00:43:27] Speaker C: That would be a fortune. [00:43:28] Speaker B: So she's buying a 50,000 piece of lead but spending a fortune on just a small road access way. [00:43:34] Speaker C: Well, years ago it used to cost us about a hundred thousand per kilometer. But I know that's gone up considerably. [00:43:41] Speaker B: There you go. [00:43:41] Speaker C: So I'd call that 200 at least to put a road in. [00:43:45] Speaker B: Yeah. So. Well, we saved a lot. [00:43:47] Speaker C: And there was a flood risk as well. [00:43:48] Speaker B: There was a flood risk on that area. There was, yeah, there was a lot going on. There was a heritage listed as well. [00:43:54] Speaker C: On top of that. [00:43:55] Speaker B: On top of that was heritage listed as well. So you know, you have to tie in with the heritage listing obviously. [00:44:01] Speaker C: Oh goodness. You have to work around limitations and whatever. So this is quite valuable for, for buyers, agents to do. And this probably what they don't understand. [00:44:09] Speaker B: Yeah. [00:44:10] Speaker C: In terms of the service they're engaging. [00:44:12] Speaker B: Well, look, I think anyone can do it as well. It's not, not saying that you can't do it, it's. But as long as you're willing to put in the time to actually look into it, know where to look for that information. [00:44:21] Speaker C: Well, you need to research first what you need to be looking for. Ask the right time to do it. [00:44:26] Speaker B: Exactly right. So this is where the buyer's agent comes in to do the work. Same like a mortgage broker. If you're not going to go into different banks and ask the question, you go to 50 different banks, am I right? Yeah. So a lot of mortgage workers have ties with 50 different lending, lending people. You know, you're not only talking about the big four banks, you got the second tier, third tier, private lenders, private money. And if you're not going to go to all of them. And find out the best package that suits your situation. Then don't go with the mortgage. [00:44:57] Speaker C: Well, that's right. It's their job to sort of assess you, assess your criteria and look at the banks. And some banks won't deal with you and that's fine for whatever reason, but you just go to the ones that will. [00:45:06] Speaker B: Yeah. [00:45:07] Speaker C: And that's what the mortgage. [00:45:08] Speaker B: And they've already vetted all that. They know who to go to and what to get into. Yeah. [00:45:12] Speaker C: So you have one. One application on your credit rating instead of multiple. [00:45:16] Speaker B: Multiple, exactly. [00:45:17] Speaker C: You could go to the two or three banks that won't lend to you for whatever reason. And then you've got three crosses on you. [00:45:22] Speaker B: Yes. [00:45:22] Speaker C: On your credit history. [00:45:23] Speaker B: Yes, that's right. Anyway, let's go do a bit of break, shall we Carlos? Because we've got our friend Ben Furr. Yeah, yeah. And he's going to be our guest. Obviously we're going to be talking mortgage. [00:45:36] Speaker C: Mortgages. [00:45:36] Speaker B: Yes. So we did mention that we get a lot of mortgage brokers here, but it'd be good to. [00:45:41] Speaker C: I just happen to know a lot of them. [00:45:44] Speaker B: But this time we're going to talk a little bit more about what's happening currently in this market. [00:45:47] Speaker C: Okay, let's do it. [00:45:48] Speaker B: All right, we're going to go into a little bit of break and you're listening to the Perth Probably Bros with Josh and Carlos. [00:45:54] Speaker A: The best music from the 60s to today, IPL radio. [00:45:59] Speaker C: And we're back again with Perth Property Bros. Carlos and Josh. And we've got a very special guest today, Ben Ferler, finance broker. [00:46:06] Speaker A: That's the one. Thank you. [00:46:08] Speaker C: How are you mate? [00:46:08] Speaker A: Yeah, I'm very well. How are you? [00:46:10] Speaker C: Good, thank you. We've come a long way to see us, haven't you? [00:46:12] Speaker A: I have, yes. It was. I'm a little bit late. There was a couple of breakdowns on the freeway. [00:46:15] Speaker B: So you're here. [00:46:18] Speaker A: That's it? [00:46:18] Speaker C: Yes. No, it's. It's completely fine. So just for the listeners. Venfil is a seasoned finance broker from Consult Finance and Advisory. He brings almost 20 years of experience across the financial services sector. Ben specializes in small to medium enterprise finance, including management buyouts, mergers and acquisitions, trade and working capital, property financing, cash flow financing and agribusiness. His deep understanding of complex financial structures allows him to create tailored solutions that help business owners and investors achieve sustainable growth. While his main focus is on business and commercial finance, Ben also assists first homeowners and. And pay a YG PA YG borrowers, helping them to navigate the lending landscape with clarity and confidence. Welcome onto the show, my friend. [00:47:07] Speaker A: Thank you very much. Thanks for having me. [00:47:09] Speaker C: And you're also a Rotarian, of course? [00:47:10] Speaker A: Of course I am, yes, absolutely. Rotary Club of Scarborough as well. [00:47:15] Speaker C: Rotary Club of Scarborough. We had Darren Megan last week, of course, from president of the Rotary Club of Scarborough with us. [00:47:20] Speaker A: That's it. Yes. [00:47:20] Speaker B: We were just talking about how Scarborough has expanded a lot in the last few years. [00:47:25] Speaker A: Oh, it has massively so. [00:47:26] Speaker B: Done really well. Yeah. So you've been there. You said you were 12 months in, isn't it? [00:47:30] Speaker A: 12 months into Rotary? Yeah. [00:47:31] Speaker B: How are you finding it? [00:47:32] Speaker C: I love it. [00:47:32] Speaker A: I'm already on the board. [00:47:34] Speaker C: Already on the board. [00:47:35] Speaker A: Volunteered well, yeah. So I'm on the board of the board of directors at the Discovery Rotary Club. I'm the club services director. So which is more the. The management and the operations hub of the. Of the club. [00:47:46] Speaker B: Nice. [00:47:47] Speaker C: Yeah. How are you finding the directorship? It's good. It's involved. [00:47:53] Speaker A: It's very involved. Especially the club services because we've got such a lot of things going on, particularly this year with a few things setting up a sort of a networking business event evening which is going along nicely. [00:48:05] Speaker C: That's great. That's at the Sky Shopping Center. [00:48:11] Speaker B: Yeah. [00:48:11] Speaker A: So they've kindly let us use that room, which is an amazing room. Great views of lake. Well up in the. [00:48:16] Speaker C: The city. [00:48:16] Speaker A: So it's a bit of a sundowner there on the last Thursday of every. [00:48:20] Speaker B: Month in the Currying up shopping center. [00:48:23] Speaker C: Yeah. [00:48:24] Speaker B: Of a place that you could do that. [00:48:25] Speaker A: Yeah. [00:48:25] Speaker C: So just I've invited you several times to this event in car. All right, cool. Josh. Josh has got a family so he's generally unavailable, that sort of thing. Because this is a night thing. [00:48:36] Speaker B: Yeah, I know that. Yeah. [00:48:38] Speaker A: Yeah. [00:48:38] Speaker B: Well, as you can tell, Carlos has been trying to get me to join the Rotary for the longest time. Still a Rotarian in waiting. [00:48:46] Speaker C: Yeah. Okay. He's got his application form filled in. [00:48:48] Speaker B: Yeah, it's filled in. It's just sitting there. [00:48:51] Speaker C: Yeah. Josh is a Rotarian. He just doesn't know it yet. [00:48:54] Speaker A: Yeah. Okay. [00:48:55] Speaker C: He's a Rotarian at heart. Big, big heart, this man. So, you know, it is a great event that you run up there at the. [00:49:00] Speaker A: Yeah, you've been. No, it's. It's really. It's turned out to be really, really good and it's just something. Something different. It's not a. Necessarily a business networking meeting. It's more of a bringing. We call it Bringing people together. So it's, it's. Yes, there's a bit of business networking but there's also other sorts of networking that's involved whether it's community groups meeting other community groups and creating synergies that way. So it's been, it's been excellent. [00:49:24] Speaker C: A lot of Rotary knowledge. [00:49:25] Speaker B: Is this the Rotary for business one? Not this. [00:49:28] Speaker C: No, not. That's Rotary means business. That's another event that runs in. In the Perth CBD at Anztec house. Yeah, that's the difference. So this is run. So you have this event instead of your meeting, don't you? [00:49:40] Speaker A: This is in place of our regular Thursday meeting. So instead of in the morning it's at night in the City View Room. And it's. Yeah. Generally get about. Somewhere between 20 and 40 people depending. Lately it's been around the 30, 30 odd mark. 30 to 35 which has been perfect. [00:49:56] Speaker C: Yeah, I found it very valuable. There's some big hitters in that room. Ex district governors, multiple Paul Harris fellow recipients, people that have just done amazing things to shape Perth. Yeah. [00:50:10] Speaker A: And we get some great speakers too. So we've had Trudy Cook who's the GM at GPT Group, which owned Karen up shopping or run Karen. [00:50:18] Speaker C: I went to that meeting. [00:50:19] Speaker A: Yeah, yeah. So she was, she was actually she spent nine years at Crown Towers as the general manager slash CEO there. So she spoke at the event, had some really high calibre speakers like that. There's a couple others as well which have proven to be bloody, you know, fantastic. So it's been really good. [00:50:39] Speaker C: She was absolutely lovely. She gave a great inspiring speech. Couldn't believe how much that place turns over in terms of foot traffic and financial turnover. [00:50:48] Speaker A: I think they just cracked last July or June rather. They did a billion dollars in sales. [00:50:53] Speaker C: The billion mark. [00:50:55] Speaker B: Wow. [00:50:55] Speaker C: Karen up shopping center. Wow. [00:50:57] Speaker B: Yeah. Well I can see why they're line getting into that place. [00:51:02] Speaker A: Yeah, yeah, yeah. [00:51:03] Speaker C: And it's her job to. To make sure those numbers come in for the businesses. Keep that place ticking. [00:51:07] Speaker A: Yeah, it's like clockwork. Absolutely. [00:51:10] Speaker C: So we've got a pretty big insight into how that shopping center runs. [00:51:14] Speaker B: Amazing. [00:51:15] Speaker C: Wow. [00:51:15] Speaker A: Coming up soon we'll have a retired brigadier from the UK Army. [00:51:22] Speaker C: Oh good. [00:51:22] Speaker A: Speak share which would be great. [00:51:23] Speaker C: Is he the one that spoke at your club in the morning? Yeah, he was amazing. [00:51:28] Speaker A: Awesome. [00:51:29] Speaker C: The action that man saw. [00:51:30] Speaker B: Yeah. [00:51:31] Speaker A: And so it's. He's going to come and talk about diplomacy. [00:51:34] Speaker C: Okay. [00:51:35] Speaker A: So. So that'll be in a couple of months time. So. [00:51:37] Speaker B: Interesting. [00:51:38] Speaker C: So Josh, what's that? [00:51:40] Speaker B: When do you guys meet? [00:51:41] Speaker A: Thursday mornings at 7:00am or quarter. Seven. [00:51:47] Speaker C: Yeah. It is pretty early. [00:51:48] Speaker A: It's a long way to go. I get it. [00:51:54] Speaker C: I think I had to get up about 350 or something. [00:51:56] Speaker B: Yeah. [00:51:56] Speaker A: Coming from. It would be a long way. [00:52:00] Speaker B: Yeah, yeah, yeah, yeah. [00:52:02] Speaker C: But it was worth it. Going to the Rotary Club of Scarborough. Yeah, definitely. [00:52:06] Speaker B: All right. Maybe we'll tie in for a good one. [00:52:08] Speaker A: You should come up. [00:52:09] Speaker B: Yeah, I will. All right. Let's talk SME, shall we? [00:52:14] Speaker A: Absolutely. [00:52:15] Speaker B: Let's do it. [00:52:15] Speaker A: That's what we're here for. [00:52:16] Speaker C: SME, Small and Medium Enterprise. [00:52:19] Speaker A: That's the one. [00:52:19] Speaker B: Well, I see obviously I can see on the table there you've got a few updates there about what's happening in the economy and stuff. Want to give us a general. Oh, this is high. High level. [00:52:29] Speaker A: Yeah, high level. So some of the banks and, you know, I generally follow the, you know, the banks, economists and that sort of stuff to see where. Where they think's coming through from a WA perspective. I suppose WA is probably leading the. The country in terms of economic growth, but it is constrained. I mean, we're. Sorry, we are benefiting from interstate migration, which is great. So that's a very tight jobs market. Very tight jobs market. But obviously that's putting pressure on the housing market and that sort of stuff. [00:52:59] Speaker C: Of course it is. Yeah. [00:53:00] Speaker A: Yeah. So I mean, they're expecting, you know, consumer confidence is up, which is great. And into 2026. 2026, we should be in a reasonable position as far as rate cuts go. Look, I don't know. Yeah, I'm not crystal ball guessing on that one. [00:53:20] Speaker C: Oh, I left mine at home. [00:53:23] Speaker A: So it's with the mechanic at the moment. [00:53:26] Speaker C: The questions we get asked sometimes. [00:53:27] Speaker A: Yeah, yeah, yeah. [00:53:28] Speaker B: But it's funny how like, you know, we're talking about the property market. Right. If you're talking about supply versus demand and about. We're talking talk about how much our population has boomed here in wa. [00:53:39] Speaker A: Yes. [00:53:40] Speaker B: And in that, like what you've just said, internal migration is also really high. It's huge. You've got internal migration, you've got migration from overseas, you know, and you've got the students that are about to come in as well for the ECU and they open up next year. [00:53:54] Speaker A: Yeah, that's huge. [00:53:55] Speaker B: Yeah, that's. That's huge in itself. That's, you know, that's the students. What about jobs that are coming in there? You're talking about, you know, is. That's a lot. [00:54:02] Speaker C: So we've got orcas as well in Rockingham. We've got all those families coming in, all those students. And I heard the other day that they've underestimated the number of the students again. Oh, really? So it's going to be well over a thousand that they're expecting. [00:54:16] Speaker B: Yeah. [00:54:16] Speaker C: And then you've also got to take into account the students that will come in future. The families will move here, they'll have more kids and there's going to be more students. So there's at least two schools missing in this area. Well, they're actually talking about rezoning to allow kids to go to other areas because it just, they won't be the places you project. [00:54:36] Speaker A: Once that gets up and running, they'll really revitalize the CBD district, you know, the CBD in terms of the shops and that sort of stuff. Because at the moment it can be pretty quiet in places. There's a lot of shops closed and that sort of stuff. Although it has improved in recent years. [00:54:50] Speaker B: I'm going to say. And I've been banking on this a lot. And then, you know, like we obviously we travel on different states and you always see the city is so vibrant and that's because they've always had a university in the city. [00:55:03] Speaker A: That's exactly right. [00:55:04] Speaker B: You know, obviously when they are, you know, when they're home, there's nothing much to do. Right. So you're out there, you're out in the city. The food eateries all start taking up and I was so glad when I saw ECU come up. [00:55:20] Speaker C: Yeah, yeah. [00:55:21] Speaker B: Because that's going to encourage and bring life back into the city. And I think the city is going to look very different in a few years time. [00:55:27] Speaker A: In a few years time. [00:55:29] Speaker B: And yes, I do agree it's dead now. Even I don't like going into the city because there's not nothing much to do. There's, you know, it's, there's, it's quiet. Yeah, it's not a lot. But with students coming in and obviously like you said, with families and all, we're going to see a very different Perth. [00:55:45] Speaker C: So you want to do something in the city, go in at about 4:30 in the afternoon or go in at about 8:00 clock in the morning, you get caught in a traffic jam, you won't find any parking. [00:55:54] Speaker B: But that's the thing. [00:55:56] Speaker C: Plenty to do. [00:55:57] Speaker B: And funny enough, that's not even going into the city, that's going out of the city. [00:56:01] Speaker A: So add another thousand students or a thousand people in there. Oh, yeah, that's going to really put pressure on them. [00:56:06] Speaker C: They're going to have to really think about that. [00:56:09] Speaker B: So. And it's good that the, obviously the trains, train trains are not being utilized as much as. I mean yes, during peak hours but it's still not being utilized to its full potential. Now with Metronet just opening as well, the one down from Byford, I think that's the last one now that's opened up. So I think it's. Perth is gearing up and it's good. I think we're heading in the right direction. Obviously we're still in tight supply in terms of property but I think like I said for city wise I think that's, it's good because I would like to see more life coming in there, a lot more people because it's, it's a city, you know, that's, that's your showcase to the whole of Australia. Hey, this is us. And if it's dead it's. [00:56:51] Speaker A: Yeah, it's different from going, you know, walking down the terrace is different from working down Bourke street in Melbourne. [00:56:56] Speaker B: Oh yeah. [00:56:58] Speaker A: Especially on a Friday night it's almost dead, isn't it? [00:57:00] Speaker C: Yeah. Not wrong. Yeah, not wrong. [00:57:02] Speaker B: Yeah. [00:57:02] Speaker C: So mate, what have you been working on lately? Have you been, what sort of businesses have you been financing or loans been riding in general. [00:57:08] Speaker A: So, so a lot of the stuff we look at. So our business first of all we look at everything from sort of your residential first homeowners and that sort of stuff right through to you know, commercial property trading business, business acquisition like you said. [00:57:23] Speaker C: Yeah. [00:57:24] Speaker A: Equipment finance and, and agribusiness as well. So recently I've been looking at agri finance as some, some farming finance, some customers which has been just been really, really rewarding especially this year with crops. You know most places are having a half decent crop this year after back of a couple of bad years which is great. [00:57:45] Speaker C: There's been really good rain. Yeah. [00:57:46] Speaker A: Yes, it's been, it's been really good and busy Succession. So we've had a lot of business. We've had one recently where sort of a succession planning directors purchasing the remaining, you know, the previous director out as part of a long term program. So we assisted with the finance of that which has been really interesting and we also get inquiries about, you know, an existing business wanting to buy another business and sort of that sort of bolts onto to their business whether it be like a form of vertical integration. [00:58:19] Speaker C: Or something like that. [00:58:20] Speaker A: So just been good. [00:58:22] Speaker C: You've got the vertical integration that's when you buy the businesses related to you. [00:58:27] Speaker A: In the supply chain. [00:58:28] Speaker C: Yeah, in the supply chain, then you've got the horizontal integration when you buy the same businesses at different stages. [00:58:33] Speaker A: Yeah, exactly right. Yeah, that's about right. [00:58:35] Speaker C: I remember that from business studies, my friend. [00:58:39] Speaker A: It was a long time ago. [00:58:40] Speaker C: It was a very long time ago, that's for sure. It's so interesting. [00:58:44] Speaker A: It is, yeah. Thoroughly interesting. So it's different. Yeah. Different businesses buying in the. In the supply chain, which has been great. [00:58:50] Speaker C: So, mate, for anybody wanting to buy or sell a business, say, what sort of formula are we looking at here to calculate the value of. Of that business? A and B, what. What they could borrow on it. [00:59:01] Speaker A: So it really depends on the business. So in some cases, like if I go to an easy one to start there, and franchises, a lot of places have put a value against the franchise because essentially. So a lot of banks particularly will put a value against the franchise. So if you're buying a McDonald's, that's a positive thing. That's a positive. [00:59:20] Speaker C: To be supported by the brand with the systems and the operation. [00:59:24] Speaker A: That's exactly right. [00:59:24] Speaker C: Yeah. Okay. The structure. [00:59:26] Speaker A: Yeah. So but if you're buying another business, potentially, if you're in for the first. [00:59:30] Speaker C: Time buying a business, or Joe BLOWS fish and chip shop and you've never run a fish and chip shop. [00:59:35] Speaker A: Yeah. You really do need some industry experience how to do it. Fish and chip shop. It might be a little bit easier. You know, it's buying the stuff and you know, cooking it, selling it, and away she goes. But a lot of. You're also seeing a lot now where there's. There's a lot of pressure on wage growth or wage. Wage pressure, which is increasing the cost of running a business. And that cost is sometimes passed on. Sometimes. [01:00:01] Speaker C: Jeez, it's going up. It has huge costs. Incredible. Yeah. [01:00:05] Speaker A: Yeah. So the good thing, I guess when you're buying a business is. [01:00:08] Speaker C: Yeah. [01:00:08] Speaker A: Having some experience in the industry is. Is one. Is probably vitally important. You need to know what you're doing, have some experience in that. And then really the other thing is there's different styles of financing. So you could either look at vendor finance if the exiting business might allow you to pay off a portion over time, and then obviously use the bank finance after that. [01:00:37] Speaker C: So vendor finance, is that something that you're seeing regularly? I mean, I know it's something that's gotten traction over years. Over the years. Years with. With residential property. [01:00:49] Speaker B: Yeah. [01:00:49] Speaker A: Okay. [01:00:50] Speaker C: Especially over east. I saw, I saw that a lot. [01:00:53] Speaker A: Yeah. [01:00:54] Speaker C: Right. Over there. [01:00:54] Speaker A: Yeah. [01:00:55] Speaker C: Okay. But you're saying that you can do that with businesses? [01:00:57] Speaker A: Absolutely can do that with businesses, yeah. So the vendor might decide they, you know, won't want to take all of it up front, and they'll take a portion over a period of time. You know, they'll secure it their own way, whether that be a second mortgage over property or something like that. And then, you know, obviously the. The business finance or the traditional lender finance, y. Whether that be a bank of financier or private equity. [01:01:21] Speaker C: Yeah, yeah. [01:01:24] Speaker A: Step in for the balance. It really does depend because business lending is unique to each business, which is. [01:01:29] Speaker C: Of course it is. [01:01:29] Speaker A: Which is the bit that I love about it. So, yeah. [01:01:32] Speaker C: You guys have your own vendor finance contracts, or is there something. [01:01:36] Speaker A: We would leave that to the lawyers going get their own legal advice. That's. [01:01:40] Speaker C: Yeah, yeah, yeah. Because it can be a little bit of a risk, I guess. [01:01:44] Speaker A: Yeah, absolutely. [01:01:45] Speaker C: But what about when you guys are looking at financing a business that's. That's had vendor finance in place? Do you guys have. No. Any issue with that? [01:01:52] Speaker A: Not normally. So it really depends on where the vendor ranks in the security structure. You know, obviously the bank or the main lender finance will want to rank first and the vendor comes second. [01:02:04] Speaker C: Okay. Okay. [01:02:05] Speaker A: That's generally how it. [01:02:06] Speaker C: First schedule the bank. [01:02:08] Speaker A: Yeah. [01:02:09] Speaker C: Second. And every other schedule everybody else. [01:02:11] Speaker A: That's exactly right. So they'd sort of rank behind. But that's, you know, that's one style. A lot of what we see is, you know, either that vertical integration, so one business buying another business, that sort of thing. Which is. Which is great. [01:02:24] Speaker C: I always used to think of that in terms of, say, the furniture. You know, the furniture shop that's. That's buying the carpentry shop that created the furniture and also buying the sawmill that created the timber to, you know, be worked on by the carpenters and then is sold at the furniture shop. [01:02:43] Speaker A: Maybe a transport business in there to transport the furniture to the. No, sorry, the furniture to the timber shop. Well, sorry. The furniture to the retail outlet and obviously from the timber mill. [01:02:53] Speaker C: Yeah. And Josh and I just. During the break, we were talking about an example of horizontal integration where there's buyers, agents that are now selling real estate. [01:03:03] Speaker A: Yes. [01:03:03] Speaker C: They're going into that game. Or they're also doing property management. They're whole separate. It's covered under our licensing, but it is whole different operations, different whole processes, whole different businesses. And you need to probably have experience in some of those other fields. [01:03:20] Speaker A: You do need some experience. And having Some equity having something behind you that, you know, you can go in and, and show that you've got something to put towards it. You can't sort of rock up to somewhere and go, I want 100% of the finance for this. No, it's not really. [01:03:35] Speaker C: No, no, no. Well, what about. So bringing you back to the property game. What about rent rolls? [01:03:41] Speaker A: Yes. [01:03:42] Speaker C: You're financing rent rolls. [01:03:43] Speaker A: Yeah, absolutely. [01:03:45] Speaker C: What sort of rate are we looking at there? Because they're relatively safe if you've. If you're working with someone that's experienced. [01:03:51] Speaker B: Yes. [01:03:52] Speaker A: Again, goes back to the experience of the person doing the purchase. So, you know, if it's an existing agent buying another or existing property manager buying another rent roll, then that's obviously really good. [01:04:05] Speaker C: So running their own business or, you. [01:04:08] Speaker A: Know, say it's a real estate agent that doesn't necessarily manage property, but has experience in, that wants to buy a rent roll, then. Yeah, absolutely. [01:04:16] Speaker C: You'd look at that because they're good on cash flow, but if you get the wrong person, then all those little managements, one by one will start, disappear and then the value of the rent roll just starts to diminish. Just a crash, doesn't it? [01:04:26] Speaker A: Yeah, yeah. [01:04:26] Speaker C: Because it's a. It's a multiplier, you know, it's whatever. If, say the rent roll, the property brings in a thousand dollars a year to the, to the, to the agency, then the value of it multiplies by three. [01:04:40] Speaker B: Yep. [01:04:40] Speaker C: Three and a half. Three and a half, depending on how good it is. [01:04:43] Speaker A: Yep. [01:04:44] Speaker C: You know, it's tested in different ways. [01:04:46] Speaker A: Exactly right. [01:04:46] Speaker C: Yeah. But that's the sort of lending they're asking, isn't it? They're asking for the multiplier value. [01:04:52] Speaker A: Yeah, Multiply value. So you. Yeah, so you can do that. Generally, the security becomes the rental. [01:04:58] Speaker C: So you want to preserve that rent. [01:05:00] Speaker A: You want to preserve that rent roll. It's really good, it's very valuable and, you know, keep on top of the vacancies and that sort of stuff as well. [01:05:07] Speaker C: So if the client was working with, say, Ray White or a franchise against being just Joe Blow, the independent operator, is the Ray White franchise going to weigh more heavily, be more valuable? [01:05:20] Speaker A: Yes and no. Because when you're looking at somebody's, obviously it's Ray White, it's established brand of the market, presumably they offer sort of your management information systems or your systems manage the property and it's a lot easier and that sort of stuff. Probably a lot more transparent and easier to obtain. Reporting it's measurable. And then on the other side of things, if it's a single real estate agent selling property, potentially they don't have that same reporting. So it may, may be a little bit more, but it really does cut down to the, to the numbers and the nuts and bolts of each transaction. [01:05:56] Speaker C: How interesting. [01:05:57] Speaker B: Yeah. [01:05:58] Speaker A: And of course the different finances and the different banks and. [01:06:01] Speaker C: Yeah. [01:06:01] Speaker A: And that sort of stuff, they'll treat it differently, particularly on the values. So. [01:06:05] Speaker C: And it affects their interest rate and. [01:06:07] Speaker A: It could affect their interest rates. Yeah. [01:06:08] Speaker C: Wow. [01:06:09] Speaker A: So, yeah, that's, you know, like if a bank might offer you a really cheap interest rate, but if they're not going to do the deal, then that interest rate means nothing, doesn't it? [01:06:21] Speaker C: And this is where you're so valuable with. When you're working with small to medium enterprise, you can access the finance. [01:06:26] Speaker A: Yeah, accessing the finance. [01:06:28] Speaker C: The banks are either a yes or no. But. Yeah, like, like, like a lot of brokers, I mean you've got access to a lot of lenders and private money or the big four or whatever it. [01:06:38] Speaker A: Is, all the others. I suppose the really, the vitally important thing, particularly when you're talking about SME, you know, the rent rolls, whether it's property rent rolls or anything else, is, is having the relationships with the bankers too. And not necessarily just the bank, but also the individual banker as well. That's also really important. Which is, which is, you know, that's really important to getting a good, good outcome. [01:07:03] Speaker C: Amazing. [01:07:03] Speaker B: All right. All right, let's go into a bit. [01:07:05] Speaker C: Of break and let's have a quick break. Yeah. [01:07:06] Speaker B: And we'll talk about. I can see he's got a lot of passion about this. [01:07:10] Speaker C: I know. So I'm really interested to see what these charts are about and what these percentages are doing. So when we get back from the break, we're have a look at what Western Australia is doing leading the national economy. [01:07:20] Speaker A: That's, that's that report. Yes. [01:07:22] Speaker C: All right, you listen to the Perth Property Bros. With Josh and Carla. [01:07:26] Speaker A: The best music from the 60s to today, IPL radio. [01:07:32] Speaker C: And we're back again with Perth Property Bros. With Josh and Carlos. And we're talking to Ben Furler today from Consult Finance. Finance broker. [01:07:40] Speaker B: That's it. I'm just reminiscing a little bit. It's been a while since we had Carlos and Josh again. It's either you are sick, you're traveling or I got sick. [01:07:49] Speaker C: We've had a run. We've had a run for a couple of months. Yeah, I got sick for A month. There was one day I was actually here just on the controls running the music and going on air and off air because I didn't have a voice, I couldn't talk and I was just, just sneezing the whole time. So Josh was running the show with Carly. [01:08:09] Speaker B: So good old Josh was running show. [01:08:11] Speaker A: Just. It's all up to you, man. [01:08:12] Speaker B: It's all up to me. [01:08:13] Speaker A: It was all up to you. [01:08:14] Speaker C: And then last week it was just me and big bad Darren. [01:08:18] Speaker A: Oh yeah, okay. [01:08:19] Speaker C: Yeah, so Josh was sick. So anyway, we're back together. The Perth property bros are reunited. [01:08:24] Speaker A: Reunited, Good to hear. [01:08:27] Speaker C: But we actually work very well together, Josh and I. As a. He's a buyer's agent, as you know. Yes, I'm a selling agent and basically all of my overflow inquiry that I can't help go straight to him. So I don't say to anybody anymore, look, I don't do that or I can't help you. I'll say, no problem, I'll get my buyer's agent to call you. [01:08:42] Speaker B: Yep. [01:08:43] Speaker C: You're looking to buy something. No problem. Because generally if they're looking to buy something, I probably won't have the stock. [01:08:48] Speaker A: Yeah. [01:08:49] Speaker C: Especially with how big Perth is and you know what people, they're very specific about what they want to buy. [01:08:53] Speaker A: Yeah. [01:08:54] Speaker C: And for years and years I would say, look, I'm sorry, I'm a selling agent, I don't, you know, I don't have it. Or maybe something comes up now instantly I say no problem, happy to help. I'll get Josh to. Josh to give you a call. [01:09:05] Speaker B: That's great. You know, yeah, it's interesting because I was talking to a mortgage broker asking this exact same thing. He was like, oh, Josh, what's the difference between a selling agent and a buyer's agent? And I put it in her perspective, right. I said between. Okay, this is how a selling agent works. You're similar to a bank. You have your products and that's it, that's all you can kind of put out. But as a mortgage broker, what you do is you actually go to all these banks and you can vet them, you can see all the different products that they have and then you find a suitable solution. That's the difference. Difference between one buying selling agent and buyer's agent. [01:09:41] Speaker A: Obviously. [01:09:42] Speaker B: Now coming back to property wise, we, you know, now in this current market there's lots of equity currently being built. [01:09:48] Speaker A: Yes, there is. [01:09:49] Speaker B: All right, now I was very interested in this question. I get asked this question a lot. All right, so Obviously, a lot of us, especially those of us who have held property in the last 10 years, you're probably sitting on massive amounts of equity now. You always hear this thing about equity being used. All right, how do you use your equity to go on and buy. It's the buzzword now in 2025. Now, how do you, how would someone go about using the equity to kind of buy another property? [01:10:19] Speaker A: Yeah, so I guess it's. And it's the same whether it's residential or commercial, depending. And so it's basically leveraging the equity. So if you've got $100 and you owe $70, then technically you've got 30% equity that obviously is brought back down with loan to valuation ratios and that sort of stuff, down to 80% in some cases. So you've got 10% equity or $10 equity. So I use that $10 as a deposit towards my next purchase. So there's 10% of the next purchase being, you know, if it's a hundred dollars. [01:10:59] Speaker C: So. [01:11:00] Speaker A: And obviously I'm just using $100 because it's easier. [01:11:02] Speaker B: Yeah. [01:11:03] Speaker A: For the math. $100 for a commercial property, wouldn't that be nice? Yeah, yeah, that'd be lovely. But yeah, so that's, that's generally how you're doing. So using that equity. And it could be one of two ways. It's securing the. As a mortgage. So you use the, the mortgage on that property. So the equity in that property to purchase another property, or you take the cash out, you know, that equity as a form of cash, and then use. [01:11:31] Speaker C: That to hit the casinos and put it all on Red 24. [01:11:34] Speaker A: Red 24. I'm a big fan of number nine, but. [01:11:37] Speaker C: Yeah. [01:11:40] Speaker A: But look. Yeah, so that's, that's it. But then the way you structure that, generally speaking, particularly when you start talking about investments and that sort of stuff, that's something that you really should at least run past your account and get some actual taxation advice on it. Because the way the money is used is different to the way it's. To the way it's, you know, taxed and that sort of stuff is treated at the ATO level. So that's something that you should speak to your accountant about. [01:12:06] Speaker C: So just out of interest there, when you're doing these equity loans or, you know, securing for, for the next. [01:12:12] Speaker A: Deposit two properties as security for the one loan? [01:12:16] Speaker C: Yeah, sure. But you're. Are you still preserving the LVR up to 80% on the first property or 90 on the first property? Or we got. We're borrowing 100 out. [01:12:25] Speaker A: So you'd only say go up to 8, let's call it in residential circumstances. Most cases it's 80%. So you, you go to that 80. [01:12:33] Speaker C: You go to the other 60. Well, they've had a gain in price. You can exactly send them. Yeah, the 20 if they want to take. [01:12:41] Speaker A: Exactly, that's right. So if they're at 60, you lend them, you know, there's the, the 20 that you can unlock and it's usable equity to go and buy the other property. Now whether that's in the form of cash or whether that's in the form of, you know, across cross collateralization, that's what they call it. Using both. [01:12:56] Speaker C: That's a fun one. Say that ten times. [01:12:58] Speaker A: Yeah, no, no, I probably won't be. [01:13:00] Speaker B: Able to question there on the equipment equity space. Right. So obviously in the home loan you've got the 80 loan to value ratio. Right, the LVR. Now in the equity space, obviously you've got the usable equity. [01:13:11] Speaker A: That's your usable equity. [01:13:12] Speaker B: Usable equity, that's my term. [01:13:14] Speaker A: That's, you know, it is. [01:13:16] Speaker B: Right. Is that no way of taking more meaning? So you, obviously you. 80 is usable equity. Right. So you've got say a hundred dollars in equity. That means 80. You can only use 80. [01:13:28] Speaker A: Yeah, use 80. [01:13:29] Speaker B: So there's no way of going to 90 or even 100. [01:13:32] Speaker A: You can, but in the residential space you're talking about lenders mortgage insurance and that sort of thing. [01:13:36] Speaker B: Can you do that with equity as well? [01:13:38] Speaker A: You're going to be taking it out your lenders mortgage insurance. You try not to because it can be expensive but you potentially could. There might be a circumstance where you could use that. Of course that's up to the bank and the mortgage insurer as well, because. [01:13:53] Speaker B: As an investor I look at lenders more mortgage insurance more as a means of getting in. Means of. [01:13:59] Speaker A: Means of getting in. Yeah, absolutely. So if you're capitalizing the lender's booking insurance, you're also going to pay interest in it at the time as well. So, so it depends again you, you treat it, maybe you'd only go to 80% on the existing property potentially and then. And put the lender's mortgage insurance as in the acquisition of the next property for tax treatment reasons. But again that's up to, you know, that's between you and your account on how you want to play that. [01:14:25] Speaker B: Interesting. [01:14:27] Speaker A: There might not be a need to, because if you can, if there's enough equity, particularly in this market, there might be enough equity in the Existing property that you don't need to go above 80% on the other property as well. [01:14:39] Speaker B: Yeah, that's right. It's. It's a bit of an advantage, isn't it? [01:14:43] Speaker A: Yeah, it is, yeah. So we're in a pretty buoyant, strong market at the moment. [01:14:46] Speaker B: Yeah, definitely, definitely. And are you seeing a lot of this especially for people wanting to kind of renovate or put into or even the commercial space? Do you see a lot of people using equity obviously to. [01:14:57] Speaker A: Yeah, generally speaking, you'll see, you know, people wanting to renovate, that sort of stuff. [01:15:02] Speaker C: Yeah, absolutely. [01:15:02] Speaker A: We've had people do that sort of your, your non structural stuff. Yeah. Unlocking a bit of equity to go out and, you know, renovate. Redo the kitchen, you know, the bathroom. Bathroom, that sort of stuff. [01:15:14] Speaker C: Remember the days back in early 2000s, have to be early 2000s. [01:15:19] Speaker B: Yeah. [01:15:20] Speaker C: Where you could borrow like 110%. [01:15:23] Speaker A: Yes. [01:15:24] Speaker C: You borrow the full, full amount, include the deposit plus money to renovate. [01:15:29] Speaker A: Yeah. [01:15:29] Speaker C: You know, 10% to renovate the kitchen, the paint, the bathroom. And they'd lend it to you, Willy. Nearly. Just, you know, so many people acquired properties during those years before everything crashed. [01:15:39] Speaker A: Then there was that little thing called the gfc. So. [01:15:42] Speaker C: Yeah, that led straight to the gfc. [01:15:44] Speaker A: Straight to the gfc. More so. Well, it was a sort of a debt crisis. More from the US Coming out with. They used to call them NINJA loans. NINJA loans in the U.S. yeah. So they would lend money to people with no income, job or assets. Ninja. [01:15:56] Speaker C: Ninja. Wow. [01:16:01] Speaker A: So that's. Yeah, that, that's how that was the, the thing bandied around. I remember way back then. [01:16:06] Speaker C: Yeah, it's certainly changed now. Responsible. [01:16:09] Speaker A: Years ago now. [01:16:10] Speaker C: Yeah, 25. [01:16:12] Speaker A: Yeah, 23. [01:16:14] Speaker C: Yeah. [01:16:15] Speaker A: So, yeah. So responsible lending, I think is an. Absolutely. It's a good thing. It's got to be done. You've got to make sure that, you know, the people can borrow it. Because a lot of people, they might not necessarily be financially savvy or all that sort of thing. They might not necessarily understand what they're getting themselves into. So it's. [01:16:31] Speaker C: That was the whole point. They were, they were just giving out loans just to get their commissions, meet their KPIs, just get paid. [01:16:38] Speaker B: Exactly. [01:16:39] Speaker C: On the bank side when it came to the lenders. [01:16:41] Speaker A: Yep. [01:16:42] Speaker C: Trailing commissions, whatever it was. [01:16:44] Speaker A: Yeah. [01:16:44] Speaker C: And people that shouldn't have gotten loans, got loans. [01:16:47] Speaker A: Got loans. And that's a lot of that has now been stamped out. Which is, which is good because nobody I know as a lender, you don't want to be selling, selling someone's house? No, no, you know, forcibly or something like that. That's back when I was a lender on that side of the fence. [01:17:02] Speaker C: But that was when there wasn't any private money around. That was just the big banks and then they all got a big slap on the wrist and a big smack on the bum and it all tightened right up. Now lending has become easier again where you have a lot more private money available to people that have gone into Part 9 debt agreements or have had defaults or whatever. That wasn't. Those sort of loans weren't being written in the scale they've been written in. [01:17:27] Speaker A: Yeah, there's certainly everybody still, particularly the financiers and in the consumer space still need to comply with the National Consumer Credit Protection Act. So that's really important. So there is still protections around for some consumers, which I think is a good thing. But yeah, there is some stuff that's out there that might be. Might be a little bit more so probably in the commercial space. [01:17:52] Speaker C: But yeah, yeah. So you made the criteria. You've got the income. You don't have any naughty marks on your credit record and if you do, you've been upfront about it. [01:18:01] Speaker A: Absolutely. Basically always be upfront with your broker when you're talking about it because then they'll know there's no use, you know, if you've got a black mark on your credit file or something, you've got to be up front because there's some. That'll narrow the lenders down, but it'll. [01:18:16] Speaker C: Be a flat out no. If you don't tell them. [01:18:19] Speaker A: Yeah, if you don't tell them. Absolutely. You've got to be up front. So that's probably the biggest thing is being upfront about that stuff. [01:18:25] Speaker B: So have you seen that obviously with it all tightening up and all that. Obviously a lot of people are not. It's not falling through as much, isn't it, in terms of lending like this responsible landing that's kind of gone in now. So you see a lot of people now obviously now being able to afford their loans a lot better. Do you see that falling through a lot? Like a lot of people not able to afford. [01:18:47] Speaker C: Less defaults. [01:18:48] Speaker B: Is it less default? [01:18:49] Speaker A: Yeah, less default. Look, I'm not sure what the areas. Right. Certainly we've got on our, on the loans that we've looked at and financed over the, over the years, our rears are zero, which is, which is great. So that's the, that's amazing. We deal with is zero. But I know back when I was in sort of on the other side of the fence banking, you know, you'd expect, depending on the. On the financier, you expect sort of about, you know, down in low single digits, sort of 1, 2% is your arrears rate on a bank's mortgage book. A big bank's mortgage book. [01:19:24] Speaker C: That is amazing. [01:19:25] Speaker B: Yeah, interesting. And that's actually a good, good thing, isn't it? Especially it tells how good the mortgage broker has done your job. [01:19:33] Speaker A: Yes. [01:19:33] Speaker B: That's where they have come in with the assessment to make sure that they are able to land and also able to service it at the same time. And what I see, or what a lot of us see at the moment now when we see with this 5% home guarantee scheme especially, we are stretching them to their borrowing capacity and limit. And this is where the mortgage brokers plays a lot now in terms of wanting to make sure that they're able to service that. Because we're stretching their borrowing capacity is at their limit. [01:20:01] Speaker A: Yeah, absolutely. Fundamentally, I don't want to ever set someone up in a loan that I don't think they can afford is absolutely. It's just not a nice feeling. Why would you say so you're setting. [01:20:09] Speaker C: Someone up to fail, you're risking that failure and it's just a really bad place to get to if the bank has to step in and take that loan back. Because banks have a federal authority, they supersede anything to do with, say, residential tenancy agreements. They're state level, these guys can come in above that and say, right, any tenants, you're out, any occupants, you're out. We're taking the property back and any costs involved, any legals, anything involved in moving stuff, storing stuff, anything, you know, you're gonna be paying a premium for that. Absolutely. They're not going to lose. [01:20:41] Speaker A: Yeah. So it's not a nice thing. And I wouldn't. Yeah, absolutely wouldn't like to do that. So brokers as well, when they're operating in the consumer residential home lending side of things, we also have what's called a best interest duty. So it's another layer that the banks don't necessarily have. We've got to be acting in the best interests of the client and we've got to be able to demonstrate that it's absolutely in their best interest that this is, you know, when recommending a product or a particular loan, have you. [01:21:08] Speaker C: Ever taken back a loan or been party to that when the bank has decided or your lenders decided to say this Loan or this area we've lended against is property. We don't want to do business with these people anymore. So call in the loan. So you've got three months or whatever to refinance. [01:21:24] Speaker A: Yeah. So that sort of stuff has been stamped out a lot in the consumer industry. Good space. Yeah. So. So they don't necessarily just come along. And the banks had a change of policy. We will take our home loan back. [01:21:34] Speaker C: I saw it once and it was really sad. [01:21:37] Speaker A: Yeah, yeah. [01:21:38] Speaker C: Years ago. But I saw it happen. I was dealing. I was party to the. On the agent side of things, but I couldn't believe it. The bank just decided in a regional area. Yeah. We don't want to do business in this area anymore. [01:21:48] Speaker A: Yeah. [01:21:48] Speaker C: They call in all the loans in that. In that area. [01:21:50] Speaker A: Yeah, that's. That's. Yeah. [01:21:52] Speaker C: Hard. [01:21:53] Speaker A: Yeah, it's very hard. You see a little bit in the. In the commercial and sort of the agri space, but again, a lot of that's been wound back through legislation. There's a bit more protections in there for borrowers. [01:22:04] Speaker C: That's really good. [01:22:05] Speaker A: Yeah. They generally would need some. Be some sort of monetary default. [01:22:10] Speaker C: That's really. [01:22:11] Speaker A: Before you see something like that happening. [01:22:13] Speaker C: Yeah. Because if you ever take the time to read a mortgage, the bank has a lot of rights and you don't have very many at all. If you look at every single clause, it's just like all in their favor. So they had enough power. So that's good to hear. [01:22:27] Speaker A: Yeah, yeah, absolutely. [01:22:28] Speaker C: That's changed. [01:22:29] Speaker B: It's very interesting. [01:22:30] Speaker C: All right. We're gonna have a very quick break and come back for our last session. It's that quick. [01:22:34] Speaker B: That is. [01:22:35] Speaker A: It was very quick. [01:22:35] Speaker C: It's very quick. We'll have a couple of songs and come back for our quick fire round. [01:22:40] Speaker B: Yeah, sure. [01:22:41] Speaker C: Awesome. That's Josh's famous quick fire round. [01:22:43] Speaker B: You. [01:22:44] Speaker C: You don't want to miss that one. Okay. Awesome. You're listening to the Perth Probably Bros with Carlos and Josh. [01:22:50] Speaker A: The best music from the 60s to today. IPL radio and back again with the. [01:22:57] Speaker C: Perth Property Bros with Carlos and Josh and our very special guest, Ben Furler from consult Finance today. You having fun, mate? [01:23:05] Speaker A: I am, absolutely. It's going it. Time's flying by. [01:23:08] Speaker B: Yeah, there you go. And you did mention that time's flying by quite quick. Is it? You didn't realize how long. [01:23:13] Speaker C: No. [01:23:14] Speaker A: You're talking. You guys telling me it's 20 minutes. [01:23:16] Speaker C: It felt like two. Yeah. [01:23:18] Speaker A: Anyway, there you go. [01:23:19] Speaker B: It shows that you're. You're enjoying Yourself? [01:23:22] Speaker A: Absolutely. Time flies when you're having fun. [01:23:24] Speaker B: All right, well, look, usually at the end of the segment, I try and do a bit of a rapid fire question. [01:23:29] Speaker A: Oh, all right. [01:23:29] Speaker C: Bit of a rapid fire session. [01:23:32] Speaker B: Just a bit of a. Getting to know you. Obviously, it's just a bit of fun. Yep. You know, just quick, quick answers, I guess. No need to think too much, don't need to elaborate too much into it. [01:23:42] Speaker C: Careful what you agree to, mate. [01:23:43] Speaker A: Yeah, right, I can't hear. [01:23:44] Speaker C: Slips a couple in there. [01:23:47] Speaker B: So it's about 15 questions, I think. All right, so we'll go to a few. Right, so in today's market, 15 fixed or variable interests at the moment, look. [01:23:58] Speaker A: It depends on each person's individual circumstances. They're still predicting rates to move down lower. So, yeah, variable at this stage. Maybe just. [01:24:07] Speaker B: Yeah, offset. Account essential or optional. [01:24:11] Speaker A: Optional, depending on the customer and what they're wanting to achieve. [01:24:14] Speaker B: Excellent. Biggest mistakes borrowers make on loan applications. [01:24:17] Speaker A: Not speaking to a finance broker sooner enough, soon enough. Yeah, get. Get them. [01:24:23] Speaker C: Get. [01:24:23] Speaker A: Tell you your finance broker that you know early, well ahead of time that you want to. You want to see if. Whether you're buying a house. Same goes for buying a house as buying a business. Get in front of the finance broker first and speak to them. [01:24:38] Speaker B: Excellent. Now, a dream holiday destination to distress after an end of financial year. [01:24:46] Speaker A: Gonna say Provence. [01:24:47] Speaker B: Let's say that again. [01:24:48] Speaker A: Provence. South of France. [01:24:50] Speaker B: South of France? [01:24:51] Speaker C: Yes. [01:24:51] Speaker B: Why not France? What's yours? [01:24:54] Speaker C: What was that? What was the question? Sorry. [01:24:56] Speaker B: A dream holiday destination just to unwind. [01:24:58] Speaker C: Oh, I'd have to be Bora Bora or the Maldives. [01:25:03] Speaker B: Really? [01:25:04] Speaker C: Well away from everybody and everything in a picturesque. [01:25:07] Speaker A: Better be the other one. [01:25:08] Speaker B: Yeah. [01:25:08] Speaker A: It put me in the desert somewhere. [01:25:11] Speaker C: Around isolation and disconnected from that phone reception. [01:25:16] Speaker B: No free reception. That's fine. Yeah. All right. Coffee order for a 9:00am Client meeting. [01:25:23] Speaker A: Look, I'm straight up. Flat white. [01:25:24] Speaker B: Flat white. [01:25:25] Speaker A: It's easy. [01:25:25] Speaker B: Yeah. [01:25:26] Speaker C: No long Mac topped up. [01:25:27] Speaker A: No long Mac topped up. No flat white. Or an espresso. Yeah. [01:25:30] Speaker B: Craziest loan request you've ever had. [01:25:36] Speaker A: I've had a request to finance a business that was adult services. [01:25:41] Speaker B: Cool. [01:25:42] Speaker C: A brothel. [01:25:42] Speaker A: Yeah. [01:25:43] Speaker B: Yeah. [01:25:43] Speaker C: Really? [01:25:44] Speaker A: Yeah, yeah. [01:25:45] Speaker C: How do you finance that? [01:25:47] Speaker A: You don't. That's the thing, you don't. [01:25:52] Speaker C: I wonder what the collateral would be. [01:25:54] Speaker B: What LVR would that come up? [01:25:57] Speaker A: Yeah, it's one of those things. [01:25:59] Speaker B: All right. What's one word to describe 2025's property market? [01:26:05] Speaker A: Buoyant. [01:26:07] Speaker B: Buoyant. Cool. Do you think AI will ever replace finance brokers? No. [01:26:13] Speaker A: Finance brokers will incorporate AI into their existing business. [01:26:18] Speaker B: What's your favorite U2 song and why Sunday Bloody Sunday? [01:26:22] Speaker A: Because it's got a good drum beat to it, I think. [01:26:26] Speaker B: If you weren't a broker, what courier would you have chosen? [01:26:31] Speaker A: Somewhere where I can sort of help people achieve what they're looking for. It sounds a bit corny, but that's. That's what I like doing. [01:26:38] Speaker C: Sounds like a professional Rotarian there. [01:26:40] Speaker B: There you go. There you go. [01:26:41] Speaker A: Yeah, so that's probably what drew me into Rotary. Yeah. [01:26:43] Speaker B: In the making there. Yeah. [01:26:45] Speaker C: DG in the making. [01:26:47] Speaker B: All right, one piece of advice for first home buyers in Perth right now. [01:26:52] Speaker A: Again, speak to your broker early. We do a lot of some customers right at the beginning of their journey, they might not have a deposit saved up. They might not have anything saved up. They're just entering the property market. Get some advice early, firsthand. Just speak to someone. [01:27:07] Speaker B: What's the best financial habit you've learned from a client? [01:27:10] Speaker A: Budgeting and how to budget prep correctly. [01:27:14] Speaker B: If you could wave a magic wand and fix one industry problem, what would it be? [01:27:20] Speaker A: All of them. You'd want to free up supply chains and free up, you know, infrastructure, I suppose, to allow people to live a better life. [01:27:32] Speaker B: Excellent. All right, last and final question. A favorite thing about helping people get into their own home or commercial property or agriculture. [01:27:42] Speaker A: Look, I really, and I was saying this to a customer earlier today, I love taking a challenge, a bit of a challenging situation. And on the day of settlement, having that come through to say, look, this loan is settled for whatever, that's just a great feeling. That's what gets me out of bed every day. [01:27:58] Speaker B: Excellent. That's a great feeling all around, isn't it? Especially when you're selling a house or me buying a house, buying a house. [01:28:04] Speaker A: Selling a house, business, it's all the same no matter what it is. If you see that at the end of it and you know you've had some small part in helping the customer achieve their goals, that's awesome. [01:28:14] Speaker C: Excellent. It's that crossing over the finish line, isn't it? And I actually don't really believe it until I'm there. Yeah, I just, you know, always preparing for worst case scenario that something could go south. [01:28:25] Speaker A: Yes. [01:28:25] Speaker C: With a loan, with a, with a property, with something up until settlement. Yeah. You know, I don't even celebrate too much until. When we get unconditional. [01:28:33] Speaker A: Yep. [01:28:34] Speaker C: You know, so settlement is like, okay. Right. It's definitely solved. [01:28:37] Speaker A: It's definitely gone. [01:28:38] Speaker C: I can see the titles have changed over. [01:28:40] Speaker A: Yeah. [01:28:41] Speaker C: There's no going back on this one. [01:28:42] Speaker A: Yeah. [01:28:43] Speaker C: Josh was challenging me the other month to celebrate the wins more, you know. But you know things can go wrong and you've just got to be on an alert until you get that settlement. [01:28:51] Speaker A: And then there's nothing wrong with having. [01:28:53] Speaker C: A celebration then Josh is teaching me to celebrate. [01:28:56] Speaker A: You've got to celebrate. [01:28:58] Speaker C: Yeah. [01:28:59] Speaker B: I think it's about gratitude. Right. But what we have. We don't. We don't say thank you enough. [01:29:05] Speaker C: We don't, do we? [01:29:06] Speaker B: We don't. [01:29:06] Speaker C: People in general don't. [01:29:08] Speaker B: We don't that's thing. So that's why we need to practice that a little bit more. [01:29:12] Speaker C: Yeah, absolutely. Absolutely right. [01:29:14] Speaker B: Anyway, that, that was great bet. Thank you so much. Obviously we loved having you here. [01:29:20] Speaker A: Thank you. [01:29:20] Speaker B: Can you share with everyone, say if they wanted to reach out to you? [01:29:23] Speaker A: Yeah. So Look, I'm on LinkedIn. Ben Furler, if you are aliar or you can email me direct at Ben F U R L E r@consult finance.com. i'll spell my surname for those that it's F for Foxtrot U R L E R. Yeah, that often gets confused but yeah. So Ben filler@consult finance.com. [01:29:46] Speaker C: Yeah. Andrew Mobin. [01:29:48] Speaker A: 0407-807-9737. [01:29:53] Speaker B: Excellent. [01:29:54] Speaker C: 0407807, 937. That's Ben Furlough if you are ill. If er, consult finance dot com. [01:30:02] Speaker A: That's the one. Or just on LinkedIn. Reach out to me there or, or. [01:30:05] Speaker C: Pop into the Rotary Club of Scarborough. [01:30:07] Speaker A: Or just drop on down anytime you like. We meet on Thursdays, 6:45am I know it's a little bit early but it's good. Come on down. [01:30:17] Speaker C: Yeah, that's amazing. [01:30:18] Speaker B: Is that like breakfast and everything? [01:30:20] Speaker C: It's a good breakfast. [01:30:21] Speaker A: We have a full cooked breakfast. [01:30:22] Speaker C: Like a buffet. Yeah, Buffet style breakfast. [01:30:24] Speaker B: Yep. [01:30:25] Speaker C: And they, they're. What is it? The Surf Life Saving Club. [01:30:28] Speaker A: Surf Life Saving Club. [01:30:30] Speaker C: Quite high. It's. It's quite high set on the, on the road level. So you're looking down over the water. It's such a good, good little spot. [01:30:36] Speaker A: They've got their views of Scarborough beach and the ocean and, and all the rest of them. [01:30:40] Speaker B: Great, great. You said you had about like 30, 35 members, wasn't it? [01:30:43] Speaker A: At the. So at the club we've got about 45 members in total. [01:30:46] Speaker B: Oh there. [01:30:47] Speaker C: That's Darren. That's Darren. Just pumping the numbers up nice. [01:30:50] Speaker B: Yeah, that's got to clash with our Lead stuff. Ah, there you go. So we've got another place that we go to usually on Wednesday mornings. [01:30:57] Speaker A: Oh, okay. [01:30:58] Speaker C: Yeah, we go to a networking group over in Belmont. Okay, great. [01:31:01] Speaker A: Yeah. Well, no, that's on Rotary's on Thursday so there's no reason why you can't come see that. Yeah. [01:31:05] Speaker C: On Thursdays. There goes your excuse out the window. [01:31:09] Speaker B: That wasn't an excuse. [01:31:12] Speaker C: So you said you're in Cobb service, mate. Does that mean you're going to the big chair to when? June, July. [01:31:18] Speaker A: No, no, I'm quite, quite happy where I am. [01:31:22] Speaker C: The time Darren's got a hold of that. That job. [01:31:24] Speaker A: He's got that for this year and then we've another fellow, John. John Stokes will be taking over. [01:31:29] Speaker C: Oh, he hasn't been voluntary to do it again. [01:31:32] Speaker B: No. [01:31:32] Speaker A: Darren was. He. I think he's had. This will be his second year doing it, so. [01:31:35] Speaker C: It's a lot, isn't it? [01:31:36] Speaker A: It's an awful lot. So I'll do club services for another year and. And then we'll see. [01:31:42] Speaker B: Is there like a time period that you need to be as a president or you have to change every time? Like say bni. You have to change every year. [01:31:50] Speaker C: It's the same thing. It's the directorship roles, the present roles a year. But this. Why I ask is because this club service role is generally the. The role you do prior when you're the president elect. You do club service and then you go into the groomed because they just threw you straight into the room. [01:32:08] Speaker A: I just jumped straight into it and didn't know what I was getting myself into. [01:32:11] Speaker C: Yeah, it's generally the progression. You go into club services, President elect and then you do your president's. [01:32:18] Speaker A: We're doing some great things. There's going to be. Watch this space. We've got some really good things coming up next year as well, mate. [01:32:23] Speaker C: I want to know. I'm going to keep harping on it because I found out about it now. The. The time capsules. [01:32:29] Speaker A: Yes. [01:32:30] Speaker C: It's time to open them. The ones that are there in Scarborough. Yes. What were they? 75 or something. [01:32:35] Speaker A: 70. Something like that. Yeah. [01:32:38] Speaker C: Yeah. Because you're coming up to your What. What anniversary? [01:32:41] Speaker A: 70 years. [01:32:42] Speaker C: 70 year anniversary. [01:32:43] Speaker A: 70 year anniversary. Next year. [01:32:46] Speaker C: Next year. [01:32:46] Speaker B: Yeah. [01:32:47] Speaker C: Got to open those time capsules, mate. Yeah, I'm. [01:32:49] Speaker A: I'm on board with that. [01:32:50] Speaker C: I want to be. [01:32:50] Speaker A: I've never seen one open tower at Scarborough. So. [01:32:53] Speaker C: Yeah, it's at the clock tower. There's two time capsules. [01:32:55] Speaker A: Yep. [01:32:56] Speaker C: Put in there in the 70s and I would love to see what's in them. [01:32:59] Speaker B: Wow. [01:33:00] Speaker A: Yeah, interesting bit of history there. I mean the club's very active. I know you've, you've probably seen Wheelchairs for Kids. I'm sure Darren's mentioned it previously. [01:33:07] Speaker C: Yeah, we had a big chat about Wheelchairs for Kids. But please feel free to give a. [01:33:10] Speaker A: Club that was something we founded way back in the late 90s and 65,000 rough terrain wheelchairs donated. Donated free of charge to, you know, countries all over, all over the world, which has been great. [01:33:22] Speaker C: So it was initially that these wheelchairs were being made out of bike parts. Bicycle parts. Now they're a bit more high tech than that. [01:33:30] Speaker A: They are, yeah, absolutely. Go out to the factory. Adam Wingara. It's, it's amazing. [01:33:35] Speaker C: It's. [01:33:35] Speaker A: It's really good. So. And we've got some really good things that we're looking at working on to expand that out even further next year and a few other things as well, which has been great. [01:33:44] Speaker B: Interesting little chance for kids trying to get your mind. [01:33:46] Speaker C: Yeah, let's have another chat. Since we're on the. On the rotary topic on this property show, just another reminder that we have got the mind the walk. Rotary Club of Rockingham, Palm beach and Bell Divers event coming up on 2nd November at Rotary Reserve park in Rockingham. So probably arrive about 8:00', clock, kicks off about 8:30. There's a couple of guided tours that are going around Rockingham. It's about a 5K circuit and the tour guides will give everybody just a bit of a talk at different heritage locations around Rockingham which is if you love history. There's so much to. To find out about there in, in the Rockingham area. Cost for adults $20, children 12 and under. Gold coin donations and there's going to be musicians. West Oz Wildlife are going to be back again this year with the. The koalas and the snakes and all the, all the lizards which was a great event last year. Greyhound adoption Wa it's going to be painting, face painting for the kids. Raffles prizes Market river to you is going to be there and yoga boot camp swing dancing also sponsored by Baldivas iga. They've been a really big help to us. Ritz Party hire in culture Tours City of Rockingham are always there. Link event services, impressions coding and black dog ride for Australia. So put that in your calendars. 8am at Rotary park in Rockingham on Sunday 2nd November. Mind the walk. Find it on Facebook. It's all over Facebook. We've been, we've been promoting the ads for several months now because I'm on the committee for Mind the Walk as well. And it's just this event's getting bigger and better every year. We're getting more and more store holders. It's just a great morning for everybody. We even got the horses, the big shy horses there that come in for the kids and yeah, it's a really great morning. Right on the foreshore. Yeah, excellent. So, Mr. Josh, we're almost done. What have we got on next week? [01:35:48] Speaker B: It's a good question actually. [01:35:49] Speaker C: Another big show lined up. [01:35:51] Speaker B: It's always a big show, man. What are you talking about? [01:35:53] Speaker C: Well, we're excited because we're back together again. We've been separated by sickness and holidays and all these sort of things. So the Perth Property Bros are, are back on task. [01:36:02] Speaker B: Yes, exactly Right. I think we going to do a bit of a change as well, isn't it? So we've been talking a little bit about it and we might see some changes along the way in the next few years. [01:36:13] Speaker C: Oh, we're always trying to improve the show. We certainly, we were just talking about during the break where we just find people in general in different places that talk about. I listen to the Perth Property Bros. They don't know that it's us around them that we're actually on the show. [01:36:28] Speaker B: I think one of the change that we wanted to make, which, which I'm very excited about is us actually going out and speaking to people and I think we want to do a lot more of that. So we wanted to actually engage everyday listeners, you know, like proper buyers and sellers. That's, you know, actually what's happening on the market and get their take firsthand. [01:36:45] Speaker C: Yeah. So pre record interviews, live interviews, we're looking at property expos, general expos in general. We're going to, we can set up and broadcast, interview people and just spread awareness. And of course Rotary will be with us because I'm a Rotarian and we're gonna be pushing the Rotary agenda wherever I can. [01:37:06] Speaker A: Absolutely. Comes with the job, doesn't it? [01:37:08] Speaker C: It does, doesn't it? [01:37:10] Speaker A: It's something you just want to share it with everybody. [01:37:12] Speaker C: You just want to share it. Yeah. And people have questions. Even when Darren and I were, we were running a stall there in, in Scarborough at the. I was a big B and I expo bow. Yes. So the amount of conversation we were just having explaining what Rotary do with people just teaching. [01:37:30] Speaker A: Yep. [01:37:30] Speaker C: You know, that's what it is. So yeah. So big change is coming. [01:37:35] Speaker B: Excellent. [01:37:35] Speaker C: All right, all right. Now we've got a. A U2 song here for our. Our special guest, Ben, that likes Sunday Bloody Sunday. So we're gonna finish up with that song. And thank you for listening in again. [01:37:48] Speaker B: To the Perth Property Bros, Josh and Yes. So obviously we look forward to seeing you next week. [01:37:54] Speaker C: Okay, you're on the Perth Property Bros with Carlos and Josh and Ben Furler. [01:37:58] Speaker A: The best music from the 60s to today, IPL radio.