Yeah.

So very, very high intrinsic value.

Um, funny you actually managed to negotiate for me, um, a four-month settlement on that.

And the way we got the four-month settlement, which was interesting, was that you've, you managed to ask them if they were happy to take a long settlement, because the property was vacant, if we could get a tenant in there so they can receive their rent.

And with that tenant being in there, at least the rent was being received, and we'll, we'll ma- we'll chip in for the cost to get it managed and the leasing agreements and everything else.

Um, so they were very happy with that, and they were happy to take a four-month settlement because of those conditions, which was, which was great.

Um, and to make sure that I don't actually lose my deposit having the all nominees, which apparently in Victorian contracts-

Yeah.

Mm.

And I, I don't believe she was specifically looking to become a broker at that point in time, but I thought to myself, oh, you know...

I think at the time you were looking to hire and expand as well.

Yeah.

I, I think I, you know, when you're in the early stages of business, you're always looking to expand, but you just don't know what you need- Mm ... at that point in time.

Jane was an interesting one because I'd put up, put out ads and I'd put out a few things, uh, on social media, and I don't check my LinkedIn, so she dropped in my LinkedIn.

I must have not replied and then she dropped into my Facebook, then dropped into my email.

Hundreds? [laughs]

But I thought what I wanted to ask yourself, like with all of this stuff, SMSF changing, negative gearing, what are you seeing with your clients and how can people still get ahead at the moment?

Yeah, so I think with our clients, we're seeing a broad range of things.

Depending on who the client is, the more experienced investors, they're coming back to the table saying, hey, what should we be buying? What are we looking at? um and you know it's very hard right now versus going back a few years ago where you could maybe have just thrown a dart in certain areas which are booming right and making and be able to make money now you've got to be i guess very strategic in how you think about your next purchase and what does that look like obviously cash flow is becoming quite hard with rates going up or they've gone up you know three times to back to where they were uh with a bit of um i guess sentiment around potentially another rate rise in order to stem inflation or maybe not maybe we'll stay flat Regardless, I think people have to remember that this is not the rate that they want us to be on.

They want the target rate to be about, I'm trying to remember off the top of my head now because we've moved so many times, but I think it was about 1.25 below where we are at this current point in time is where the RBA wants us to sit realistically.

So people forecasting on today's rates, obviously rates are going to go up and down and use today's rate or if not a bit higher to forecast your risk appetite on how much you're willing to bear.

But over the longer scale when the rates do obviously go down and they get back to normal rates, they're obviously going to, I guess, re-stimulate people's uh numbers or cash flow and they're still gonna they're gonna start looking at buying all over again right yeah and all the changes um they still obviously have to be fully legislated and that's one thing that's true we've got an election in two years which is another thing yeah a lot of a lot of potential changes again there afterwards but if you're counting on tax benefits or you're counting on um you know anything to do with that in order to buy property then you're not taking the right approach i think I think you've just got to look at the holistic view and go, well, what are we buying? What's our goal? Are we trying to make money? Yes.

And money is made on the combination of how much cash flow are you losing or gaining in the long run? And ideally, the big picture is capital growth, right?

You're kind of doing the house and land packages out there.

But Hung, uh, I just wanted to run through with our listeners what exactly a self-managed super fund is, and is there a minimum deposit you need to get started?

Yeah.

So I guess a self-managed super fund is, it is what it is by the word, right? Self-managed super fund.

Um, you need some obviously quality advice and you need to know what you're doing.

Don't just jump into it because you heard the guy at the barbecue done it, um, or the guy on Facebook is doing it.

Really understand what it is that you're getting involved in and what you actually have to manage, audit with the accountant on an annual basis, uh, and what it takes to actually buy the right vehicle in there, as you would know, right? Uh, so with the SMSF space, I, I guess the minimum deposit, they have all these recommendations.

If you ChatGPT it, it'll tell you, I think it's 200,000 is the minimum deposit, but the truth is there is no real legal requirement around the minimum deposit.

I remember us having a conversation, and there's some really great lenders out there at the moment that are offering 10%, like you would, uh, I think it was at Granite that you can-