462 | Top 5 Reasons You Have NOT Become A Successful Property Investor Yet!

And Ben Kingsley , chair of Property Investors Council of Australia and a back-to-back winner of the Property Investment Advisor of the Year Award . And both the partners of the multi-award winning Empower Wealth and co-creators of more the Freelifestyle Design Act , as well as bestselling authors of the Armchair Guide to Property Investing and Make Money Simple Again .

Stay tuned as they bring you the Insiders Guide to Property Finance and Money Management .

And for me , I sort of think about you want more money , right , not to have more things , but to do more things and have more experiences , which has a direct correlation with happiness . So , that's what I like about today's episode .

And so Ben and I are really excited about sharing this with you , and for some it might be confrontational , for others it might be an aha moment and for the rest of you it might be somewhere in between .

But we are definitely going to be sharing some intel with you today that we think will help you achieve financial freedom if you embrace the concepts that we're talking about . So excited to get into it . But before we get there , ben , I have been exposed to this . This is my mindset .

I've been exposed to this quote and I went and had a look and it's been Warren Buffett . But sometimes I think there's the you know , the Churchillian effect where if someone makes a quote and they don't know who it's from , they just say it was Winston Churchill . I think Warren Buffett gets a little bit of that as well .

You make a quote , you don't know who it is you say so I'm just going to say anonymous at this stage , and when I use the word man , I want people to realize I'm talking about human right , so I'm just quoting this particular quote .

But when a man with money meets a man with experience , the man with experience leaves with the money and the man with money leaves with the experience .

And if you let that land the reason I wanted to bring that up , ben , is because , in the context of what we're trying to talk about today , spruickers often do that because they play a game that allows them to have the experience .

Because most of the time here's my observation of a lot of spruickers that I've come across in the journey their strategy is pretty sound by properties , hold on to them . Use the tax system to help you out , self-fund your retirement . Don't rely on the pension . Property in this country is a good thing .

They usually put you in some areas that if you could find an established property we might be interested in . But the thing is , if they're an enthusiastic amateur , that's fine , but for a lot of them they know it's not in the best interest of their clients . So let's read that again .

When a man with money ie the person who has just had a telemarketed call to them and they've put some equity in their house , meets a man with experience ie the spruicker who knows how the game works and knows how to extract the money out of them .

The man with the experience ie the spruicker leaves with the money ie theirs and the man with the money ie the person with the equity in their home leaves with an experience , and quite often that experience isn't known for some time down the track . So I'm unashamedly trying to help our community understand that .

If you've only just been listening to us for a little while , it might not be as obvious , but we vehemently believe in established properties , older properties over new properties . So when I saw that quote , ben , it sort of really resonated for me , and hopefully somebody's listening to that goes huh .

Your job is to try and not be the person that goes five years , looks back and goes oh yeah , I saw the experience , took my money and now I've got the experience and then you lose those five years .

The idea is to try and hopefully listen to some of the things that we're going to talk about today , apply them to some of the things we've talked about over the journey , so that you actually don't fall prey to some of the spruicker activities .

But in simple terms , if you've got a $600,000 loan and $400,000 of that is in the build or improvements on the land and only $200,000 is in the land , versus a $400,000 land value and only $200,000 on the improvements and it's land that appreciates mathematically , if , all things being equal and you get the same growth level , you're going to earn more and make

more money out of the old property versus the new property . So to that point , let me just pass on that experience to you and I'm not going to take your money .

I'm just finalizing the framework on that and then we'll release that shortly , explaining in detail the very concept that you talked about and why it's impossible it's just mathematically impossible , to your point for new to be old or established . So there you go .

All right , we have what we think is a very exciting opportunity to share with our community today , so let's rip into it now .

All right , ben , I'm really excited about the conversation that you and I are going to have today , because we're going to talk about the top five reasons that people fail to achieve financial freedom , and I think people might be surprised by the list that we go through , because I don't think it's going to be the typical list that you would expect and it's

largely around an observation that you and I have made over 20 plus years , and we talked about this at certain levels throughout our maybe the last six months . But there is one thing that we've observed very specifically , which is the difference between successful people and people who aren't successful , and that's simply around taking action .

So today we're going to talk about the top five reasons that people fail to achieve financial freedom , and it's going to be around that thing , mate .

know , with hundreds and if not thousands of people and have this type of dialogue , you get to some of those layers which are really really challenging for some people .

So I'm excited about where we're taking today's conversation because it really will challenge you in regards to your own situation , and I think you know there's a period around sort of how people look at this in terms of this is a non judgment .

So we want you know like , we want you to have a breakthrough by listening to this episode , but we also want you to feel like , hey , you know what's . What's happened in the past shouldn't be an anchor or a mooring line in terms of how you can think about the future .

So we're not judging what you haven't done in the past and the procrastination that might have got you , but what we are talking about is how you move forward and some of the critical things you need to do .

And again , that's not necessarily in the sort of observational stuff , it's also it's inside , it's in that sort of you know , behavioral and also that emotional piece . So I reckon we just hook straight into it .

But there's an analogy that we want you to have and it's it's an onion , and what we're about to do is we're about to peel back layers of the onion so that we can actually get to the real core .

So I originally saw this concept with an American entrepreneur by the name of Alex Homoes , and he got it from Dr Albert Ellis right , and it was described it's their words , not mine as the as the victim handbook . So why people don't take action , right ?

So if we , if we are able to reveal what those circumstances are , hopefully we can help people who are listening to this . Because if , in our observation , the number one success is not location does 80% of the heavy lifting , even though that's important , it's not the buyer's decision quadrant , even though that's important .

It's not understanding your numbers and even though that's important If you , if you understand that the number one hierarchy of the reasons why people don't have any successes because of their ability to not tell , their ability to not take action , they're putting excuses in front of their , their action , taking prices that sort of , and we all do it because we're all

incentivized . We're all incentivized . Here's the deal In my observation . We want to increase our status but also defend any opportunity to decrease our status . So we won't talk too much about increasing status , because a lot of that is self evident .

But a decreasing status maneuver would be , is and you're going to talk about this a bit later on around people's money management . But if I make a move and it doesn't work , I will decrease my status with my significant other , my friends , the people in the street who know me , all those sorts of things .

So therefore , one of the best defenses that we have to not decrease our status been it's called status quo . It's called do not do anything , it's called . Then when I look in the rear vision mirror , I can actually go hey , listen , it wasn't my fault , it was X , it was Y , it was Z .

However , if you actually do take action and , for whatever reason , it doesn't come off Well , then there's a clear correlation between you as the decision maker and not so . We've talked about FOMU before the fear of messing up . It is very much a part of our psyche and some of the reasons why .

If you have a look at the numbers , ben , it's over just over 2 million property investors in a population base of 25 million . That percentage isn't great . And all that percentage , small percentage , do multiple . So if you have two properties , you are an outlier anyway . Two investment properties I'm talking about , you are an outlier .

So therefore , it is self evident that people struggle with this stuff . So let's kick into it . The first reason that people fail , ben , is actually the first three are going to be circumstances , right and it's time .

So if you think about the outermost layer of the onion , that is the easiest one to sort of have as a defense to why we can't take action because I've run out of time . And we can actually break this up in three ways , ben . First of all , we can break it up as a macro . So think about it as a . This is a busy season for me .

I could be promoted , I could be moving into state , I could have just had a baby , I could have had any season . That suggests right now is too busy for me to actually do something , ben , and I think that a lot of people could relate to that . But I guess the first thing that you and I want to say is if you can relate to that .

Busy is the best time to start , because it's based on the premise that you foresee that in some point in the future you were never going to be busy .

And if you think about that , it's a bit of a fallacy that we think , well , okay , I'm in this busy season , I'm not going to be busy going forward , because we are in a society that's getting busier and busier and quite often we use it as a badge of honor how are you going ? I'm busy , right ?

So if you're going to be busy again , busy is the best time to actually get support and actually take action , because if you can do it when you're in busy season , when you get to that time when it's not so busy , well , you know what to do , because when it gets busy again , you've actually got the lane , the tracks that have already been laid for you to

know what to do .

They might be running a company , but they've also got time for their charity work . They've also got time for exercise and that type of thing .

And then just also have a look at people around you who are just doing things that impress you around that and you'll just see that they are busy people but they're not letting busy be that sort of determinant to not take action . They're just basically finding a way to be able to achieve that . So that's part of that sort of breaking through .

They're not sort of saying , all right , because I'm too busy , I don't have the ability to do that , and I think that is definitely an excellent takeaway . And bringing that back to your earlier point about those people only have a couple of properties .

I mean , at the end of the day , property is the vehicle that we advocate , is a great way for financial freedom and to basically retire financially secure , but we don't care what vehicle it is in a lot of respects .

But we also know to your point that those people who are retiring financially free and they've got financial peace , you can always count those as a small minority of a group of people .

Just have a look at their actions and their behaviors and what they've done over the last 20 or 30 years and you'll find your answer that they just found a way to break through .

Again , with time , there's also the micro level . So that's when someone says , look , I don't have any time in the day and you can never really pull someone's phone off them , when they say that , ben , and go through the little screen time analyzer and actually see how much time they're spending on the certain apps .

For some people , like you and I , we spend a bit of time on AFLcom . Other people spend it on Instagram , other people spend it on Pinterest . Whatever app of choice is , you are making a choice at that point in time to spend your time doing that over something else . But that's very difficult to bring that up for someone .

But I guess the challenge is , if you have a spouse or a partner or a significant other that says that to you , you might be able to gently nudge them and say , hey , listen , let's go through that exercise and see how much time you do spend , because everyone has the same 24 hours . We all have the same 24 hours . It's about how we allocate it right .

So , if you think about , there are people that are achieving more with their time than us with the same timeframe . It's what are the actions that they're actually doing to do that , and it's also identifying . It is just a smoke screen .

It is a reason for us to avoid dropping our status by making the wrong decision , by bringing something up that actually helps us blame something else . But the idea here is , if you take action and you do it correctly and if you take the right advice , you then get to cut 90% of what's not working .

If you spend more than you earn , if you allocate money towards things that are not productive for what you wanna do , if there's opportunities , if you have a vision for where you wanna go and what you wanna do , that vision might help you get super , super focused and cut the things out of your budget that you don't need and also cut the things out of your

life that are providing barriers and time wasters , where you could be spending more time doing the things that matter . So that's the second way that we can tackle the time issue .

How much is it improving your ability to make an impact and live a purposeful life ? Because we can all be impressed with it and make no mistake , I can sit there and watch a piece of material being made into some incredible bit of art and it's very impressive .

But I can also sit back and say , well , what am I doing about working on me and doing all the things that I need to do to be able to break through and get the results that I'm looking for ?

And I think , if you're honest with yourself , which is coming back to your point , is that I'm spending like two hours a week or four hours a week just watching these feeds of rubbish or some social interaction or some social experiment , which still might be a train wreck . But really , what is it adding to my life ?

Does it make me feel better that I'm not that train wreck of that relationship breakup ? Seriously , the world is a big oyster out there , get out there and enjoy it and do other things , because that's the big part for me .

I always make sure that if I'm falling to that trap , I'm like , all right , what am I gonna do to get some extra learning , to get some extra development , to get some extra knowledge and information . And that's a big message that I give to anyone who wants to again break through and take action .

If you had a look at it now , you'll find I spend most of my time on my phone in podcast app , in the Audible app , and I spend an above average amount of time on YouTube . Youtube is my social meter of choice because I'm a student of life and I find the people that I like to follow provide a lot of really great content for free .

And if you think about the previous generation said I wanna make if you've ever said I wanna make the next generation's life better , and then realize that you actually can do that right . Because the thing is , if we have a look at Warren , we go I'll widen Warren , warren , uncle Warren , that is , make more money . It's cause he never had himself .

He never had himself . He only had Benjamin Graham , whereas we've got all of the information from Warren Buffett and all of the people that have learned from him , who then provide a platform that we can learn . So therefore , the next generation should do it faster , quicker , better than what you and I have done , ben .

We never had podcasts when we were first starting , so the people listening to this podcast and hopefully some of the content we're talking about today is groundbreaking for them to understand Love it . We never had that , so therefore it should get easier and it should get more straightforward . So just be careful where you're spending your time , folks .

But if you've said I don't have time in my day , we would just say that that's potentially a smoke screen for inaction , so that you don't drop your status by having to make a decision . So there we go time . We've covered macro . It's a busy season . Micro is I don't have time the day .

And then the third one here under time , which is circumstantial , is it's called the when , then fallacy . So it goes something like this Ben , when I have time , then I will start . When I have abs , then I'll go to the gym . When I start losing weight , then I will eat better . It's a fallacy . It's a flipped sequence .

It's actually logically not correct to actually try and see him in that order , because some of these things require you to actually flip it and go I don't have money . Therefore , I should take action .

I don't have time , therefore , I should put these things in place , so it's called the when , then fallacy under time , ben , and it's important that we identify it .

We're just gonna start our family first , or we're just gonna get that out of the way , or we're just gonna wait till the kids finish school and then we'll have a little bit of extra money . They still find a way .

You know the ones who make a significant difference to their personal financial position , they don't have that mindset , they don't believe that way , and so that's another little sort of reach out . When you have this sort of headspace of planning to become in sequencing , they're trying to find a way through .

They're not just sort of saying it's impossible , I can't find that way through .

Or when we've got clarity around whether we can get the travel allowance to come back that was taken away , or when the market crashes Bryce , that's a classic one right or when the market .

And so they're the dangers sometimes , and I gain no judgment there , but I just worry about the information that people are gathering and just how dangerous some of the actions that they're taking from that misinformation to be able to be in place , because that's another excuse that they come up with .

That's the first layer of the onion , right ? So if some of you have listened to that and gone , okay , makes sense that the busy season is the best time to actually get some support and move forward , and there is a way for me to find time in my day . And because other people are achieving more with the same 24 hours .

And then we realize that when , then is actually just a fallacy and it's broken , and so we go . Great , time is no longer the barrier for me taking action .

Well then what happens is , once we've peeled that layer of the onion back , the next layer pops up , and the next layer usually comes around value , okay , so cost how much does it cost to actually get advice or help ?

Or , in our circumstances , we are very , very strong advocates of starting with the plan right , because it's the roadmap and laying the track for what should be something that makes it straightforward for the steps after that . Right , so value .

So the first way we wanna tackle this , ben , is we wanna explain why paying money if you feel like it's a lot of money to actually get some help why that's actually good . So I wanna start with a story . So I've been doing this for 25 years and I love my family to death , ben , I'm a very big family guy , as you are right .

So over the journey I've got a cousin over in Perth who's asked me a bunch of questions . But outside of that one cousin , none of my family have actually asked me for advice , for help , because I always put it down to that little brother's hindrance .

You know , like no matter what sort of success or , I guess , external markers of how he might know what he's talking about , it's still just the little brother , or that's the cousin , or that's my nephew or whatever , right ?

But sort of contrast that with people over the journey , with the thousands of people that you and I've helped , where they pay to play , and so because they've put their money on the table , it means a lot to them and usually is the reason why they'll be successful because it did mean a lot to them and because of the fact that they put the money on the

table which forced them to go all in on the energy and their focus actually helps them lower the barrier for action .

And you get there and you feel great after the effort , Like you feel really , really good in terms of you've worked your body over , you've set yourself up , usually to the morning , so you're setting yourself up for a really strong , productive day where the heads and the mind strong and sharp . So I just I do find it quite interesting , right .

I mean , the other way in which I look at this sometimes is you hear a lot of people talking about them , the multiple mistakes that they've made , and then you ask well , how much advice did you get before you actually embarked on all of these efforts ? Well , not much , you know , so that they've decided to touch the pot , burn their hand multiple times before .

So I just like this idea that if I'm gonna pay some professional person , I'm asking them qualifying questions . You've made a lot of mistakes , yep , so I've learned from my bad mistakes . That's why I'm looking at it . But I'm also interested in the people who've made the least amount of mistakes .

So when you talk about Uncle Warren , he still talks about their mistakes , but he's the best part .

He's made the least amount of mistakes for most people because he's studied the subject matter so intently that he's been able to be incredible in terms of the returns he's been able to produce for his shareholders , which he has this unbelievable view that he's a shareholder more so than an employer or anything else .

So everything sort of comes from that value concept of being in play and I just love this whole idea of this second layer of value . So I always talk about benefit over cost . What's the benefit ? What's the value that I'm going to get when I think about the investment that I'm going to make here ?

And if it's Bryce , if I'm getting your 25 years of research and experience in terms of what you've done , plus you've got a team of people behind you that you're sharpening your eye with all the time , man , why am I not gonna listen to you ?

Like you know , with thousands of purchases behind you , know the group of knowledge that's behind us , it's like it sounds like a good idea .

So when you've delivered several thousand plans , several thousand different scenarios that you get to see that plays out and that becomes an experience that someone who doesn't get to see that will never be able to compete with to that point then . So it's an important point you make . I remember , prior to COVID , I'd go over to the States every year .

You and I went a couple of times together and it's amazing , you get in the room full of incredibly motivated people .

I remember one guy who was Mexican , who built up a friendship having seen this person time and time again when I go over , and he told a story about how he was in dire straits financially , was in credit card debt , to the point where the income that he was earning was not able to ever get out of that debt spiral , and so what he did is he invested in

his own skills . Now , I'm not just for clarity , I'm not suggesting this is the thing to do , because what he did is to invest in his skills . He actually used the credit card again to buy the course that required him to get the skillset . But what actually happened is it equipped him with the skills .

That was an investment in himself that meant that his income actually could grow . Now that credit card debt became a thing of the past , no longer had credit card debt and is making incredible transformations in the life of a lot of people . Right ?

So the point is , in theory , you could state a case that if someone's in an enormous amount of financial distress , inviting them to go into further distress to actually get ahead potentially is not the right thing to do . And yet this person , in the context of what we're talking about , said if I pay that money , it will mean a lot to me .

I see it as a way that I can move forward and have a better pathway in the future and therefore , and now the rest is a wonderful part of his history .

So in some cases you might be right , they're last resorts . But the point we're trying to make is that there is value to be had in terms of gaining experience and knowledge from these subject matter experts that will get you through and get you out the other side , and so your time poor . But you also see value in this you got to .

You know that's the leverage you use leverage to be able to , you know , have that access to that professional , in addition to , obviously , making that investment into your situation .

Because if all it did was help you this is to your , I guess , origin story benefit all it did was help you trap surplus and show you how many properties you need to buy and what the North Star is well , would it be worth it ?

And then , if the answer is yes , but the money is still something that you need to overcome , well , then it just becomes a belief issue , and because you don't believe the result rather than the fact that the plan in this circumstance can actually help you .

So if all it did was help you identify some of these key questions to help you move forward , then chances are it's definitely worth it . And why sort of spending money on your future is not a lot . Now the third point here is what's money good for anyway , right ?

So if you were so we were trying to build a context around paying for advice versus not paying for advice here too , right ? So chances are you're going to spend that money in the next 12 months anyway .

But if you think about the four ways that you'll pay , you know procrastination , the wrong strategy , paying too much or professional advice you're going to pay for it anyway , right ? So it's just whether you get to choose what that looks like , and three out of four of those usually don't get you the outcome that you're after .

So in this case , to answer the question of what money is good for , you're going to pay for what you value the least . So if you value your time the least , then you'll save the time and not spend your money . Right ? If you value your money the least , you'll pay for it in time .

So , for example , there's a lot of people who just go I do not want to lose a decade . Time is what's most important to me . Therefore , I will pay to get it done . Perfect . Whereas people say I'm going to hoard this money . I don't want to do . So that they will .

They will have to pay through the procrastination tax of not knowing how to get it done in a in a fast enough time period , because that's one currency that you can never replace , which is time , and we see a lot of clients who have some regrets around that .

It's because we're trying to break these layers down , and so this whole value layer and time layer is an important part to you know . Again , peel back those ending layers to get to that core . And this is one of the bigger ones where you know loss of version , risk , return . All of those things are real barriers here .

But if you ask yourself a question well , can I save my way to a comfortable retirement ? No , you can't , so you're going to have to deploy that money in some way .

And to Bryce's point about the four ways you pay , the smart money would suggest have a look at proven performance , have a look at the cash on cash return , have a look at the volatility story around property . Combine all of those things together and you start to tell yourself a different story around .

Actually , I feel like this is becoming lower and lower risk because I'm becoming more and more informed .

And if you think about all of that opportunity cost , if you think about every barbecue conversation , if you think about every fish that got away , all of those stories as frustrating as they are , and as much as you can contribute at the barbecue around , oh , you've got a lived experience of the one that got away .

Generally speaking , you don't want to be that person . You want to be the person who's actually got the story . The cheapest property that I've still got banned I paid $191,000 for and it was a lot .

It was a lot when I bought it and now it doesn't sound like a lot , but you don't want to have that story in the rear vision mirror without your name on the title . So and then the last one here for unpacking how much it costs and the value and all those sorts of things is really around , why often you don't actually need money .

So we have stories within our client base . We have stories within our summer and winter series we have stories of anecdotes of people where they've actually not needed money to get started .

So you think , by definition , every self-made millionaire started with nothing , because if they were self-made it means that they didn't get any help from anyone , and so , therefore , you just need to be resourceful , not necessarily have resources , and that's a big one . And I think that's placed the story of the guy that I met who was from Mexico .

He was resourceful rather than having resources , and if you think about the story on this one that I love is Shoe Dog with Phil Knight you might remember , on at Suka Ben , how that was the Japanese supplier of the tiger shoes that Phil Knight had before he turned them into Nike , and there was a point where he couldn't afford to pay payroll for his staff .

And so he went to the supplier and said , hey , listen , can you pay payroll ? And they're like what ? And he said Well , in order for me to be able to buy the next shipment of shoes , I need you to be able to pay the payroll for me .

So , on paper , couldn't pay payroll , but found a way to get it done , and then , clearly , that company is now by far and away the number one company and worth several billion dollars to Phil Knight personally , as well as multi billion dollars as a market cap for that .

So it all started with the decisions that people make at pivot points in their life , when they decide they need to have resourcefulness , not resources .

I can't sell the shoes if I don't have the product . So can you help me with payroll ? Like you , spend it to make it . You know and and , and you know properties , that beautiful passive vehicle to do that .

You know it's a passive investment , it's a small business , you're running it on the side and you know it's another one of the great reasons why it's such a cool investment , because it doesn't take a lot of your time up , you know . So you don't have that another excuse that you know that time excuse .

We don't have to do anything If we can actually break through that particular circumstance . We then come up to value money for you know , value for money . So we've just covered that . Now let's assume that people have broken through that layer of the onion , ben . We're getting closer to the core .

So the next layer that we're going to come up against as a reason why people fail to take action is the fit Better said , I'm not sure if it's for me which again is the third smoke screen . Circumstantially it's usually a bit closer to our hearts , so we guard it , but if we've gone through those first two .

So the way that we approach this , ben , in terms of not sure if it's for me , is first of all to go okay , you are going to have to take on a new identity and have new priorities . So the most example , most obvious example for everyone around . Adopting a new identity is .

One weekend , ben , you decide that you want to go riding a push bike on a highway with a bunch of dudes or a bunch of ladies together , and if you were to wear boardies and a peak cap you would look out of place . So you have to adopt a new identity .

And for those in the know , it's a mammal , so it's a middle-aged man in lycra , so we have to don the lycra . Now I say we as if I'm doing it . I'm not , but clearly those who love cycling , who love road cycling , adopt an identity .

They put the lycra pants on , ben , they put the tight shirts on , they put their little gel packs in , they've got their beautiful crafted helmets that will protect them . They've got the cleats that they clip in . All of that stuff . It's an identity that they take on . Now , for me , personally , I take on an identity of a mountain bike rider .

So it's slightly baggier pants , ben , I've got slightly different helmet , but it's the same thing . We take on the identity of what it is that we do . So if someone actually wants to get a passive income , if for the purpose of our discussion , by buying established residential property , two or three in number , with their home and their super .

They're going to have to take on an identity because your old priorities got you where you were . So if you actually want to move forward , you actually do have to change it . So if you're saying I'm not sure it's for me , that's okay . It's normal that you have to put on a different cape .

You have to put on a different identity so that you can identify with people that are going in that direction .

A lot of people are fearful of share , investing and buying into businesses because they don't understand it and it's quite volatile , and so they see that as risky . The fact that you're thinking that residential property seems and feels a bit safer is you taking on that identity . So there's a tick in the box for you already .

Now , subconsciously , you've made that choice . So to Bryce's point , it's like , okay , well , if I'm going to take on that identity , I need to get more serious about this , I need to transform into all right , well , what does this stuff look like ? How informed do I get ?

And to the other analogy with the bike story is that , yeah , if I'm on my BMX and I'm trying to cover 60 kilometers versus I'm on a race bike and I'm aerodynamic and I can move quicker , there's a lot quicker way in which I can be more productive in terms of taking on that identity than trying to battle on into a headwind on a BMX bike .

So there are obviously identities , and then there are tools of your craft that you will need to understand and get informed about , or you bring in a coach or an expert who's going to be able to help you to do that , so you can see how these little bits of building blocks start building on themselves , for you to be able to then say , hey , at the end of

the day , I'm a property investor , or I'm a budding property investor about to execute on my very first purchase .

They start to get gazelle-like on what they don't want to spend their money on , so that they can free up surplus to invest a bit for tomorrow and invest a bit for today on the things that they love doing . This is the identity that property investors take on .

They start to do the things that not many people do , and it may be uncomfortable , but they've got to be new priorities . Because here's the statement that will jolt you the old priorities got you where you currently are . So if you don't take on that new identity , then you're going to be challenged . You're going to be challenged .

You will probably have that smoke screen serve you by saying hmm , not sure if this is for me . The second way we tackle this , Ben , is the pain of change . So you've got to change to change .

So , to your point , if you are used to riding a BMX bike and you start trying to do 100 kilometers on a BMX bike in a peloton of crew , you will get blown out of the water very , very quickly by this peloton right , and they probably won't accept because there was some rejection that comes from just you know , just always being at the back not doing your

part in the aerodynamics . I'm sure all the cycle is going to ride . So you're going to be talking about riding Clearly this pain to change . So you've got to change to change . But there's a threshold point here , and this applies to anywhere in our life , ben . But we're just bringing it down to money here .

If the pain of change is greater than the pain of staying the same , you won't do anything right . But if the pain of staying the same is greater than the pain of change , that's the tipping point , right .

So I guess for a lot of people , that fo-mu , the fear of messing up , the fear of losing status , the fear of well , the addiction to status quo , which means I can blame someone else If that pain of change isn't strong , sorry if the pain of change is not greater , sorry if the pain of staying the same is greater than the pay of change if you won't do

anything .

So at this point we need to amplify , we need to stack the pain , we need to actually think five years ahead , 10 years ahead , and try and put yourself into that position that if nothing changes except that the amount of candles that I blow out on the cake each year has gotten larger , but my circumstances are similar how does that actually feel for you ?

Because if that pain starts to build and starts to get you to a point where you do move into that pivot point , well then that's super important for us . So the pain of change you've got to change . To change , because if you don't , you're just gonna keep doing what you've always done .

If you're not progressing towards that , then ultimately there is going to be this self-reflection where staying the same is going to eventually , you know , frustrate the crap out of you , to put it in a six in terms .

And so we're hoping , by illustrating that you know that there is a terrific outcome to be had over five , 10 , 15 , 20 years of doing this and supplementing your exertion income for a passive income is incredibly powerful for those people who can claim self-funded retirement , but , again , small minority .

So that's why we're talking to our community , cause this community understands they're aspiring and we're just , you know , trying to get them to move along into action .

So I think that one's a powerful message price that's why I love that one so much that the pain of change does need to be greater , does need to be greater than staying the same , because if you really think about that , that's gonna cause you to take action .

Here's the question Ask yourself , all right , what's missing ? Okay , and if you identify what's missing , then if that was in it , would it make a difference ? Because what you find here is , again , we're talking about smoke screens for people taking action .

Once you ask someone what is actually missing here that you'd like it to have , quite often the answer is I don't know . Right , I don't know .

And if that's the case , then it's , it just becomes a , it's likely just a limiting belief with them , right , and it's got nothing to do with the pathway forward or the plan , because if we remember what our baseline thesis is that people do not want to decrease their status and by making the wrong decision we'll contribute to them decreasing their status but if

they really confront that limiting belief and we can circle back to what that is and you'll see as we move further into the fifth one . We're at the third one now . We can really quickly get to the core . So , but again , if we sort of recap , then we're going through the top five reasons why we think people failed to achieve financial freedom .

That first one was all around time . First layer . We get to the second layer , which is the value or the cost of money , or how much we need to spend to get the advice . Okay , so we can break through that . We then get to the third layer , which is about the fit . You know if it's not sure , if it's for me .

So what we've really covered in those three is under the branch of circumstances . There's circumstances in our life that we can blame for us to stay doing what we want to do . Now , as we move on to the fourth one , we can move from blaming circumstances and we can start talking about other people . All right , so others in our life , it's authority .

We defer our power to someone else and quite often the deferrer of this power is actually only in our minds . It's actually not in reality . So the way that we cover that is in a couple of ways . First of all , we've got to really isolate the foil and hopefully collapse it , which means identify who is that person that you need to get that power from ?

For a lot of people , it's their significant life partner , but it could be authority from a father figure , a mother figure , a mentor in their life , someone who has mooring lines over them that are invisible and not perhaps seen to that person , but there's something that we hold inside ourselves .

So the first question is for that is does your partner know that you're here , yes or no ? Usually yes , so then you ask the question well , what do you think they wouldn't approve of here ? Again , it might be something . Well , they don't want me to fail . Oh , okay , they don't want you to fail , all right .

Well , let's talk about you then , because it's got nothing to do with them and everything to do with you . You can see how we're starting to move closer to the core event , which is really important , but we need to isolate and collapse it , to avoid it as being the smoke screen , so that we can actually talk specifically to what's going on .

Because , so , who's been dragged along ? Yeah , who's here with , who's the one that's sort of driving the show and who's the tag along ?

Because I think it's really important that the beautiful part about us humans is we're so unique and different and we have different beliefs and different attitudes and all of these things that make up basically the tapestry of life , and that's the beautiful thing about being alive .

But when we are talking about moving in the same direction plan to become what we plan to become , we've got to have that uniformity , because if we don't have that , then the likelihood of success , the probability of success , does get impacted by that .

But once you do know that both of you are on the same page and you ask yourself this other really important question is do you want to do more things and have more experiences and have a more meaningful life ?

I think everyone would answer yes to that , and so if that is the gravitational pull that's asking you to challenge yourself around taking action and to do this work on yourself , around breaking through from a behavioral and a mindset point of view , you're putting yourself in the best position for success .

So you ask a question does the person that you're deferring to approve of the current struggle ? Do they know that you're in a bit of pain ? Do they understand that you might be following a path of your family tree that is in a direction that neither of you want to go ?

Well , probably , chances are , they don't approve of the current struggle , right , and so then that comes to . Okay , well , let's reverse the roles here . So you're the person who is being deferred to and your significant other is the person that's being asked the same question . What would happen ?

And you'd be like generally yeah , yeah , I'd be supporting and providing that .

So therefore , it becomes a support discussion , not a permission discussion , and that's really important for us to uncover that it needs to be a support discussion , not a permission , and , generally speaking , in a lot of cases , not all , because we do know in some circumstances , that there is someone who's large and in charge and needs to be consulted , and that's

not what we're proposing here . But if , in an equal scenario , generally speaking , it is that support , not permission . But here's what happens if you project it into the future , if you don't actually unpack this one and you defer it to someone else and it's a monster under the bed . That's in your head , that's not actually in reality . Here's the challenge .

Resentment starts to kick in , because if they don't approve of the current struggle and if the role was reversed , they'd be okay . Therefore , it's a support , not permission game and you don't actually have that conversation , that real conversation . That will build into resentment .

That will definitely build into resentment , particularly if you think that they will say no .

What Bryce has just tapped on is the big part of why those relationships ultimately don't survive , because if we're not moving in the same direction , if we're not supporting each other and having that sort of permissions and responsibility and purpose in terms of what we're doing , then we will drift apart .

And so , again , some of the best work you can do in terms of on your relationship is being transparent and open and honest about how you're feeling , about your current position and what you're trying to do . I know that this falls really deeply into decisions about spending money for today and into the future as well .

It's about that , oh , but we need these things now .

We need to be , you know , we need versus , but the future is also important that we allocate a bit of money to that , because if we don't do that and so getting that balance right I get it , it's hard , but if you do it well and you do it well planned and your sequence correctly , you will be able to enjoy both the here and now , as well as that future

and that resentment , that ability to not live your best life , because that's what we're talking about here is allowing both of us to live our best lives if we're in a relationship to be able to move forward , and , unfortunately , finances do play a significant role in that conversation .

It's not like you can actually tell on the outside . It's an insider's game .

So what we do is we say let's have that first conversation , bring together the two significant people If it's two or more the significant people in the conversation , bring them together , bring bucket list , let us talk to you about what the value looks like , and then at the end of that you guys get to decide together from a position of being from the inside ,

not from being on the outside . Because if you don't want to proceed or you don't see the value , then whatever money you've contributed up until that point , no questions asked , we give the money back . So that actually helps with that , with the deferral to someone else , because it's real Like it's a lot of money you don't want to .

We're not advocating that you make decisions outside of a significant life partners . What we're asking you to do to drop the action threshold and actually take some action is to bring them along as well , and so that's one of the ways that we do that . So , all right .

So if we go back to our onion bin , we've peeled back the time layer , we've peeled back the value layer , we've peeled back the fit layer , we've peeled back the others , or the deferring authority . So what actually happens is if we can get people to picture this analogy , they've got the onion . Having done that , they are now looking at the core of the onion .

We are talking about the real process , the real decision maker .

Here we are now starting to get super , super focused and vigilant on you as the decision making , empowering you as the decision maker to actually do something , because it's you that actually wants whatever that dream outcome is For us , it's 2000 bucks a week , but for whatever your dream outcome is , we're getting to the core .

We've actually got to the person who is in decision , right ? So how do we look at this ? There's three ways that we can look at this . Well , first of all , avoidance , right , self . This is the fifth excuse . It's avoidance . So how ? Do ? We do that . Well , first of all , we tackle it from the past .

So you think about okay , you've arrived at this decision point here , but this is not a faster decision because you've been decided for years . You're probably here because you struggled to pull the trigger in the past . So the question is Reavision , Mirror Analysis , what has been the cost ? What has been the opportunity cost ? What is not deciding actually cost you ?

Because this is actually super helpful for us to be able to empower ourselves to make some decisions , because there is an emotion here that you want to talk to that a lot of people experience around some of those past decisions when they arrive at having to look themselves in the mirror and say this is actually a decision that I need to make .

That is the cleansing , that is the looking at that past and really starting to clear your eyes and say to yourself that there is no judgment , what has happened in the past is in the past , and then ultimately starting to get clarity of sight on what is important for you and that comes from within .

This is ultimately an inward looking decision about living your best life and taking action to do that . Now . You don't have to do all the parts . This is what we've also been talking about . You can bring a team of people in around you to be able to do that .

So I just find it really important that you are where you are here right now , and we think our community are amazing community of aspiring Australians . The reason why you're listening and you're wanting to educate yourself is because of exactly that . You have this innate feeling inside you that things could be better for you .

You can make this change , you can have this breakthrough moment , and so that to me is this self-talk and this ability to basically say what's the upside risk versus the downside risk , and the upside opportunity is amazing compared to the downside risk in terms of putting knowledge and education into yourself and then bringing support people around you to be able to

make magic , and I think that that is a powerful message in terms of we're not judging the past , we're looking to the future . In terms of what that looks like .

Most people talk a big game up about their money management abilities , but the reality is , from the evidence that we're seeing , there's only 1% to 5% of the people we see are elite money managers . The other 95% of them are pretty ordinary money managers . They might feel like they're okay , but that's a game about removing that fear and that harm .

I've seen a lot of people who struggle with money decisions and make poor decisions in terms of their impact on their future version of themselves , and there is a lot of shame in that . I appreciate and I want to recognize to those people that you aren't alone in respecting this idea that it does feel like there is failure .

I want to just remind people that what's gone in the past is in the past . What we try and do in terms of coaching people around money and decisions and behaviors and actions , and learning how to trap surplus and to think about essential and discretionary spending is to move past beyond that .

So acknowledge what it is , have that conversation with yourself , to sort of say , and it comes back to that change management that you were talking before about , bryce , in terms of one of those other important points , I just feel like a lot of people bury their heads in the sand .

They feel a little bit of shame , fullness around , and I just don't want to address to the point you made earlier the elephant in the room and so I think it really is important that this is the moment that we do talk about not feeling that shame , just acknowledging and using .

You know we hear a lot of people stories about you know I just bottomed out , I basically went bankrupt and that was my trigger to basically get them to move to the current successful position that they're in .

We're saying you don't have to completely bottom out , just acknowledge that you might have some deficiencies there and get to work on them , and you will turn that shame into the most empowering motivational tool for you to get better . And so that was the point I wanted to make when I did talk about that earlier , bryce .

So there is a book , ben , by Josh Kaufman . It's called the First 20 Hours , and he says you can get good at any skill , generally speaking , within 20 hours . And he goes in the example of typing in a different instead of QWERTY , I think it's , I can't remember . The Dvorak is a keyboard . He talks about playing the violin .

He talks about learning a new language . He says you can get proficient at the skill within the first 20 hours . Now that's separate from Malcolm Gladwell in Outliers . He says mastery comes from 10,000 . So I'm not talking about that , just being proficient enough to understand .

It's 20 hours and the reason I'm laboring on that is if it only takes 20 hours to really get the first bit of understanding that you need , and a lot of people have done their first 20 hours just by doing our back catalogue on the podcast . Ben , if you do that first 20 hours . A lot of people spend a lifetime delaying the first hour .

It takes you only 20 hours to get proficient , but they spend a whole lifetime avoiding the first hour . So if you can actually do that first hour , you'll find that the remaining 19 happened . So that's really what we're saying here Don't let the past burn you twice .

If you haven't taken action in the past , don't let that be the reason why you don't take action in the future , because you don't want to let that burn you twice . So , avoidance of self . We've covered it from the past . The next thing we want to cover , ben , is in the present .

So here's what we find because we have a lot of consultations as a team Initial consultations , where a lot of people think that they need to do that , they need more time , but what you actually need is more information . So let's play that out . You get some information , you decide that you want to .

You know this could be something that you want and then you go right , I am now going to go home and I'm going to sit on the back porch , ben , and I'm going to sit on a rocking chair and I'm just going to rock back and forth and I'm going to just look into the distance and see the clouds moving across the sky .

I'm just going to ponder with time whether or not this is a good decision for me to make .

Of course it's laughable , because anyone who's living in the real world finishes that conversation , answers their five text messages , gets to their next deadline , works out how much they're going to pick the kids up from school or who's covering dinner tonight , or what are we doing on the weekend .

We just get into game mode and that pondering on the rocking chair never happens . So what we've got to realize is it's not time that we need , it's actually more information . And being super clear on what that information is is important here , because it's also a fallacy to mistake time for information .

And once you start to think about those types of things as part of problem solving , you will start to get into a really positive mindset about overcoming avoidance . I was listening to a particular bank CEO last week and he talked about a nice little framework to think about getting clarity , then looking at capability and then looking at motivation .

So thinking about this in that particular . So what's the clarity ? Like , what problem am I trying to solve for ? And then talking about the competencies and the capability Do I have the capability to do this just on my own or do I need to potentially again bring a team of people around me ? And then , what is my motivation ?

And we're trying to get to the core of the onion here today , to tap on that motivation and that mindset piece to sort of say what's the worst that could go wrong . Like you know , it's okay to have a swing . You know , what did Jordan say you miss every shot , that you never take , 100% of the shots you don't take .

So that's what we're trying to tap into in terms of understanding , capability , competencies and then motivation to do that . And again to Bryce's point , this whole framework is just about sort of overcoming those barriers , those mental conversations that you're having with yourself or your significant other to basically allow you to take action .

We're in the financial transformation community here and we are trying to get you to take action into that financial transformation story .

So if it was someone talking to me because I believe strongly in our property portfolio plan , right , so if I use that as a context here I ask the question this is how you make a decision Do you believe the property plan , property portfolio plan , would work for you ? Yes or no ? Yes , okay .

Do you think that and I'll talk about me do you think that I can help you ? Yes or no ? Yes , okay . Do you think that this could work for you , yes or no ? If the answer is no , then you've got a bit of work to do , because you obviously haven't demonstrated where the value is right .

But if the answer is yes , then finally , do you , in our case , do you , have access to the $500 to get started ? Yes or no ? Yes or no ? Yes , I do , okay , let's get started , let's take action . It's as simple as that . But for a lot of people that haven't actually even thought about what does it actually mean for me to actually make a decision ?

Because informed decisions are made on the inside right . And just for clarity not choosing is a decision .

And for the procrastinists , and probably for the perfectionists and being a recovering perfectionist myself , ben , I can relate to this but for those people who go , this has got to be it or I won't take action , hopefully this will help . We don't need to be snipers , we just need to be directionally correct . So what does that mean ?

We don't actually have to nail it specifically right now . All you got to ask yourself is if I take this action , will it get me closer or further away from my goals ? If the answer is it gets you further away from your goals , well , there's a problem .

If the answer is it gets you closer towards your goals , well then you are directionally correct and it's not one and done . You can always move forward . As long as you're moving forward in the direction of your goals . That is a significant win and that's how you help overcome the perfectionism , the paralysis , by analysis .

The people who look for the detail as to reasons why they don't move forward Don't need to be snipers . You just need to be directionally correct . That's that example where the rocket is off track . It's on track 3% of the time and 97% of the time . It's those corrections that you need to make , on course , to make sure you end up in the destination .

It's because we're trying to just demonstrate the little incremental things that you're doing that are actually increasing your wealth speed and then building it . Oh , it feels a little bit better .

And then you get a plan and , oh , if you want to supercharge , you know , your , your wealth speed and you want to basically make change and hit more of those personal and financial goals that you got , all of these little tools and instruments are supporting you in this ability to take action and that's all we care about . That's all we care about .

We were avoiding the decisions based on our own self here , and we've , when we sort of agree that that past , present and future ways helping us do that At the end of the process , here's what you realize that you were always in power and it was an illusion that you weren't . It was an illusion that we didn't have time to do this .

It was an illusion that we can't see the value in actually moving forward . It's an illusion that we're not sure it's actually for us . It's an illusion that we needed to defer to someone else and it's an illusion that we weren't in a position to make decisions for a self .

And we can avoid it for the fear of all the things that we talked around status quo , fear of messing up and decreasing our status , which is what we're all trying to avoid . So , if you get to the get to the bottom of this , you know yep , I was always in power . Because here's , here's the ultimate epiphany that we want you to have .

The issue we're solving for is not a knowledge gap . Knowledge is empowering , but only and for the rest of you know what it is it's an accountability gap , right ? So the primary issue with humans in general is this they will not endure short term discomfort for long term achievement . That's it .

They will not endure short term discomfort for long term achievement In other ways . We we optimize for the local benefit , but we should be optimizing for the global benefit . We know we shouldn't eat the piece of cake now , ben , but we do , because it tastes good in the moment , but it doesn't work towards our bigger goals that we're trying to achieve .

So that's it . If you hack that , you hack success .

So here's what we want to do for this , for this content today , is we want the people who who are suffering from a very high action threshold hopefully through the process We've helped you identify that , the lower that you can get your action threshold to actually take steps to move towards what you want to do , and with whoever that is that you seek your advice

from .

That is the number one hack for success , because Ben and I have changed our tune over the journey of doing this podcast , from a whole bunch of tactics and whole bunch of strategies to the number one determination of success in our eyes now is just the ability for someone to take action , ideally in the right direction , ideally with the right advice , ideally with

going in the right , right sort of track . But if you can't take action , you will never achieve the success that you want financially . So , folks , how did we go ? We started off by saying we want to give you the top five reasons why we fail to achieve financial freedom . Were they the five you were expecting , ben , I wonder ?

For a lot of people , they probably weren't expecting that .

recognition , but also can then move past with that and that change management and that accountability that ultimately is on you to be able to take that action but move away from all of those , you know , mooring lines and those things that are holding you back into being able to take action .

So I really love today's episode because it just , to me , it just reinforces that there are different ways of looking at this .

Practical people , you know , maybe thinking I sort of knew all that other people might be saying , oh , you've really connected with me on a deeper level and that's probably now I get an understanding of why I there's certain things in my life that I that I don't address early , I wait to the last minute to address , or or I just completely ignore them , and you

know that's when you come back to that story about building up that sort of anger and that frustration . You were trying to move past all of that to try and be in that position .

And to Bryce's point , I haven't seen too many people make really bad mistakes when they're investing and they're being sensible about it and and they're taking sensible approaches and a method , method , method . Let me see if I can get a methodological , methodical approach . I got it methodical approach in terms of their approach to what they're doing .

So , and that's why planning , sequencing , cash flow management , the ABCD all of those other frameworks come into what we're talking about .

My goal from from today , ben , is that at some point in the future , you or I , or both of us together , bump into someone who who said I heard that , yeah , I did have an action threshold that was too high . It helped me lower it . I did take action and here's the results I got because of that .

That would just that would just make it all the worthwhile . It would be amazing . So why we do ?

So if you're watching the video and you just see a quick change of clothes there , that's the reason for it . So , yeah , just sort of finishing off our work .

doing Ben was Mount Newman up in Far North and the Gold Coast I remember absolutely sweating like crazy and then realizing I go to the back to the hotel , try and quickly rinse the shirt , hang it up , iron it , get it ready so I could wear the same thing the next day . And obviously in some of those busier times let's just lucky people .

For a lot of people it's television , not smell a vision , a couple of second day outfits were a bit .

But what I do with Jack , my eldest , and I absolutely love it is when I'm driving in the car or pick him up from school or pick him up from somewhere , and I go how is your day Good ? Like wow , this is insightful . Anything happened to like . So I try and open as many open ended questions as I can and and they give me a flat bat .

So I'm thinking how am I going to have a conversation here that's meaningful ? Well , I've got a game changer now .

So what happens is I put Jack to bed and I quickly turn the light off as quickly as I can and I lie on the bed next to him and he starts talking , right , and , and it's because the lights are in and there's no , there's no , obviously direct face to face , whatever it is . You know expressions . He chats and chats and chats and chats .

So I get to ask all these open questions and he's happy to continually flow the conversation with me . So all of a sudden I start to get a better insight into his day and a bit more insight into his character and a bit more what's going on with his heart , and I'm absolutely loving it .

So I thought I'd share that with the community , because you're having challenges trying to pull information out of your , your kids . Try this one . It's been a game changer and I'm usually really tired at this point , ben , because you know what it's like .

You put the kids to bed and they want to delay it , and it's like can we just stretch it a little bit longer ? And then I can you rub my back or can you sit here and chat to me , or whatever , and and and .

So now I just embrace it and so I just quickly get in there , turn the light off , and what happens is , once he's got his words out , I'm happy because I'm feeling full and understanding of his world . Then all of a sudden he does this little oh , it starts to yawn . Yes , this is my spot . I know he's he's tanks full .

I know he's done my tanks full , I'm done . Bang , I've got adult time on the couch doing whatever it is that I want to do , what show or whatever I want to feed into have a conversation with my wife . So there you go . That's my life hack today Time in the dark with your tweens .

When they go into bed , turn the light off , lie next to them and just see what conversations flow , because I love it . It's rewarding and I reckon it could be a good answer to those parents who are trying like crazy to learn a little bit more and getting donuts on the response , Ben . So there you go . What's making property news ?

So I think that's a great bit of advice .

You know , he's got a camp coming up and he wants to wear the shirts because all his mates at school or I wouldn't know this stuff if it wasn't for those little times . So it's just those little insights that I get that I just really value . So , yeah , try it , mate , let us know what you think . Well , do what's making property news .

Let me let me share some of these latest two insights for this week , and I'm going to you know , obviously I'll come back and attack the government and all that later on , but this one's a little fun one , right when it says is now a good time to invest . 56% of people said yes , 24% said no and 20% said unsure .

But over half of the people are thinking well , if I could actually get some money out of the banks thanks to APRA , I'd probably add to my portfolio . So that's a pretty good reason . And here's why they're super smart and they must be listening to us .

Right , they must be listening to us because 94% of people saying what's the best type of investment purchase would you make ? Would it be vacant land ? Vacant land at zero , no income producing there , brand new or off the plan ? 6% .

Because if we had done that survey 10 , 15 years ago , that brand new or off the plan would have been probably 30 or 40% . So that just goes to show you that the work we're doing with the communities out there in terms of showing them there's obviously opportunity because there's a lot of spruicking going on .

Everyone's telling me that all of the markets are now going to be in boom time . I'm not so sure about that . So that gives you a bit of an idea in terms of how clever the people who filled in the survey are .

That's really encouraging because a lot of people that are in the PIPA influenced sphere are more experienced advisors who are playing the experience game and making great advice . So that's that's kind of really encouraging .

I wonder if I wonder if in a , in a vacuum , we could get a survey done of people outside of the PIPA influence to see what those numbers would be , because I wonder if it would be back to your point 10 , 15 years ago . If still have a lot more people would be going for the off the plan and the new stock .

I would have also been at the Victorian parliamentary inquiry into the rental and affordability crisis , so I'm going to be one .

So in one of the public hearing events , I've got 45 minutes with all of the , the parliamentarians , the members of parliament quizzing me , and I'm also going to give them some pretty direct feedback in regards to you know why why the property market is failing here in Victoria . So that could be interesting , interesting feedback as well .

So I wrote to them , I rang them , I really pushed the agenda about trying to make sure that , because so far all of the public hearings have been very much focused on the tenant and so there was really just no representation from the key stakeholder , who , who provides about 90 to 95% of all rental accommodation , and that is the mum and dad and private investor

. So if we were going to hear from trade , we were going to hear from all of the , you know , the associations and the , the , the businesses and the governments , the supply , the support services for tenants , and we were hearing from tenants , but there was nothing coming from the actual investor .

So we're going to give a voice to the investor and obviously I'll be wearing my pick a hat as the chair of Pica doing that particular work at that public inquiry .

I think a lot of , a lot of what is visible to me because I see it , but a lot of our community wouldn't know some of the , the campaigning and the work that you have to do behind the scenes , which can be tired and thankless , and just to just to give them a little insight of what it even just took for you to get a seat at that table .

But they weren't inviting you . You had to try and muscle your way in just to represent the voice of the property investor .

So well done to your efforts , mate , and I'm you know I'm going to , I'm going to thank you on behalf of all the property investors for all the work that you're doing , because it's it is definitely allowing us to get a voice into how it impacts us and a lot of the unintended consequences that you will be able to share with them .

And , mate , I would like to be in that room watching you when you give them some feedback around why the property market is failing in Victoria . Mate , hang on , hang on .

But I absolutely couldn't let this episode go past without saying good luck to the pies . Make it legendary boys . Good luck , Calling Wood . Mate until next week knowledge is empowering , but only if you act on it .

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