Free Guide

Alex Veljancevski Transcript

Note: Property Investory Podcast is produced for the ear and designed to be heard, not read. We strongly encourage you to listen to the audio, which includes emotion and emphasis that’s not on the page. Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio before quoting in print.

© 2018 Property Investory

Alex Veljancevski:
When I left Macquarie to start working at the mortgage broker brokerage I didn’t I didn’t know if I would enjoy it or if it was something I wanted to do but I wanted to give it a go because it was it was something where I could help clients achieve their dreams.

Tyrone Shum:
This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies.

I’m Tyrone Shum and in this episode we’re speaking with mortgage broker and owner of Eventus Financial, Alex Veljancevski. We’ll be looking into how he’s handled business in the current property market, how his family influenced him to get into finance and property, as well as the entrepreneurial business that allowed him to save enough for his first investment.

Tyrone Shum:
Having achieved numerous awards in the mortgage broker industry, Veljancevski’s success has been achieved on helping property investors first.

Alex Veljancevski:
I’ve been in business for four years I’ve been in lending for five years I started my business Eventus financial in 2015. So been in business for years have been growing every year.

Recently won broker of the year in NSW which was a great achievement for us.

So pretty much the clients that we take care of vary, we’ve property investors first home buyers are people looking at buying their second home upgrading. So we take care of wide clientele base. We don’t necessarily have an niche.

Tyrone Shum:
With a jam packed schedule, most of Veljancevski’s day is dedicated to figuring out deals and dealing with new and regular clients…

Alex Veljancevski:
Some days are quite busy. I wake up quite early somewhat. So I’m an early starter. My day starts around 7:30, come into the office. We’ve got interviews. My team consists of about three to four a day. So that takes a lot of my day out. The other part of the day is structuring deals for the clients that we see with the client becoming a bit more constrictive that’s taking more of our time at the moment taking in a much longer time to put a deal together.

So as a result my days now consist of more so structuring deals reverse engineering to see what way they’ll work best and seeing which lender they’ll work it in the best way as well.

Tyrone Shum:
With the added finance difficulties the current market has posed, he also discusses whether or not this has affected business overall…

Alex Veljancevski:
It depends because we’ve got access to so many banks we can always have a look at a way for it to work if we can work the clients that I’ve been mostly impacted, I find are investors because of the way they have changed serviceability calculators investors with multiple debts are now struggling to get further funding depending on their services ability and income.

That’s been a it’s been a major change that the lenders have have come down on in the market. But people that are there looking and buying the first second or third investment still seem to have capacity there and we can get those to work a bit easier.

Tyrone Shum:
Growing up in Sydney’s West, Valjencevski grew up as the youngest of three children…

Alex Veljancevski:
So I grew up in the west of Sydney.

I’ve got two older sisters they’re twins. One is an accountant. One’s a corporate lawyer.

So I come from a very high expectations of myself and I was a young kid.

Tyrone Shum:
Despite these expectations however, Veljancevski found a happy medium, progressing in a career he was passionate about that met his family’s expectations..

Alex Veljancevski:
It’s interesting I’ve always had a passion for property and finance so it seems like I ended I’m going going down that path and coming to the latest 80 years of high school that’s when I really knew what I wanted to do or was it was really good economics numbers was my thing.

I definitely didn’t know what I was going to get into lending my first job out of university was work at the Macquarie Bank. I was in a corporate world when I got out of uni and yeah lending happened a bit later on.

Tyrone Shum:
Growing up close to the Sydney CBD, he reminisces on his childhood…

Alex Veljancevski:
So we grew up in a place called Bidle Park which is about 15 kilometers in Sydney CBD. I come from the Macedonian background so a pretty traditional backgrounds. Having two of the sisters was great but sometimes challenging being the only boy in the family especially younger boy growing up with twin sisters but having sisters were always gave me direction a lot of they were good role models for me. So you have a pretty cool memory going up.

Tyrone Shum:
And where he went to school…

Alex Veljancevski:
I went to Bexley North public school which was a local local primary school in the area and then I went to Kingsgate Grove High School after that.

After high school.

I got into university so I got a conscious degree at the University of New South Wales which was something that I always wanted to do. I studied finance and economics there which was great as a three three year course which I did full time.

I learnt a lot in university, more so the theory around it.

I think university is was it was a great part of my life coming out of it seeing the practical side it was a completely different thing for me.

Tyrone Shum:
Busy not only with his studies, Veljancevski spent his university life running an online business on the sidelines…

Alex Veljancevski:
It was quite interesting. I started an online business selling cameras on ebay.

Online shopping was a very new thing.

Back when I was at uni so it was an interesting time I saw an opportunity there whereby I could sell Kamras on eBay. After I dropped shipping type of an arrangement whereby I had a supplier overseas that was sourcing those cameras and I had a competitive advantage because the difference between what the clone was paid in the stores and the price I was offering the same product for it was a substantial difference so that there was an opportunity there.

Tyrone Shum:
Great. So you’re an entrepreneur at a very young age.

What happened with it? It seemed like a great business to continue to run.

Alex Veljancevski:
Yeah, as the Internet progressed and online marketing started to grow, more players came into the game which means my margins started to start shrinking.

Harvey Norman’s of the world are more established online stores.

And so they were competing in an online space. So slowly slowly with those players entering the market and the sharing and also coming down a bit there was less margin going forward. And with my uni studies where where I was going with my career I kinda stopped stopped that business once I started my corporate career.

Tyrone Shum:
With such valuable real world experience, it was this entrepreneurial venture that later allowed Veljancevski to change his life…

Alex Veljancevski:

I saw the opportunity – I remember at the time.

My sisters didn’t understand what I was doing and it made more so they were more so in the corporate world are saying oh you know what’s going on here. I didn’t understand that type of business arrangement but it worked really well. There was quite a bit of money to be made at the time when my dreams were high and that essentially allowed me to save up a deposit for my first property.

Tyrone Shum:
It was after University that Veljancevski went straight into the workforce…

Alex Veljancevski:
I was fortunate enough to get a position at Macquarie straight away as soon as I graduated which was excellent. Its every graduates dream to start working for a big corporation market leading corporation like Macquarie as a graduate. So yeah I was at Macquarie for one and a half years which is a great time in my life. I made a lot of contacts and really I think shaped my career going forward.

Tyrone Shum:
Following his employment at Macquarie Bank, he decided to go down the mortgage broking path…

Alex Veljancevski:
I started working for a mortgage broker so I was at that time I was contemplating what I should do next in my career.

I really enjoyed finance a lot helping people but I knew that much. So I thought mortgage broking combined those two qualities and I sought out an opportunity whereby I wanted someone to mentor me not only in mortgage broking, not only to learn how to write loans but also how to build a business. So I started working for someone that built a business from nothing to something quite substantial and I was lucky enough for him to accept me at that time and I learnt a lot while there.

I was there for a year and a half. I wasn’t there for too long before I started my business but I learnt a lot in that year and half. It was that intense learning experience.

Tyrone Shum:
Despite leaving after a short period of time, Veljancevski was able to make important connections, his previous employer helping him start his own mortgage broking business…

Alex Veljancevski:
It was more so when I when I started my business. I created it myself from there on. I had a lot of mentors at that stage being a lot of people in the industry and I think the most breaking industry there was a lot of people that not that are very open to help you along your journey which is great and shares a lot of stories. So there’s a lot of support in the industry which is great.

Tyrone Shum:
But what exactly drew him to mortgage broking rather than any other career in the finance industry?

Alex Veljancevski:
When I left Macquarie to start working at the mortgage broker brokerage I didn’t I didn’t know if I would enjoy it or if it was something I wanted to do but I wanted to give it a go because it was it was something where I could help clients achieve their dreams of purchasing a home buying an investment property, similar things I had done in the past. So I wanted to be involved in that. And when I started working there I soon realised that it was definitely something that I want to pursue in a career. It was great to see people purchase for investments growing their growing their wealth. It was good to be a part of making that happen for them. So yeah I knew at that time it’s definitely something I wanted to do long term.

Without the money you can’t really get to purchase that petulant property. Finance is an extremely big component of people’s journey whether it’s purchasing their first home or an investment.

Tyrone Shum:
Coming up after the break we will delve into Alex Veljancevski’s journey and how he got started in property…

Alex Veljancevski:
I bought my first property when I was 19.

It was actually a unit in Liverpool that was all I could afford at the time but it was at a good price and I had a good yield.

Tyrone Shum:
How he grew his portfolio…

Alex Veljancevski:
Since I started my business in 2015 that’s when I really saw the equity that I had in my properties from Liverpool’s because from 2010 to 2015. Obviously Sydney went through a pretty substantial increase in prices. So all the available equity for me to use there and I use I then used that equity to purchase some properties interstate

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

Kickstarting his property investing journey at a young age, Veljancevski explains how he managed to buy his first property…

Alex Veljancevski:
I bought my first property when I was 19.

It was actually a unit in Liverpool that was all I could afford at the time but it was at a good price and I had a good yield. So I bought a three bedroom property for 340000 in Liverpool at that stage I was renting for 400 dollars a week from day one.

So I was in a position where yeah you covered my interests and that’s what my dad used to always say when you’ve got where you’ve got your tenants essentially paying your interest and sometimes it pays your principal interest essentially getting a loan for free and you’re capitalizing on capital growth over the long term and one day that property is going to be yours as well. So if you have multiple of those going on then that’s a good way of creating wealth and you made a lot of sense to me at the time.

Tyrone Shum:
He adds that including this unit, he has kept every single property he has bought along his journey…

Alex Veljancevski:
I’ve always had that philosophy of you make money when you buy in yourself. So I haven’t sold any of my properties along the years, hold every single one of them but I do still keep our property in his act. The tenant they actually occupy the tenants of the property when I first bought it is still there which is great.

Tyrone Shum:
That’s great. And how long ago was that when you purchased that property?

Alex Veljancevski:
It was in 2010 so eight years now. Yeah eight years yeah.

Tyrone Shum:
So where did this inspiration and desire to buy the first property come from?

Alex Veljancevski:
My Dad was always a property investor so he started buying property in the western suburbs of Sydney quite early on so early I would say in the early 2000s when property were really cheap in the west of Sydney so we’re talking about prices of 100 250000. So it was a great inspiration for me to buy my first property. He always pushed me to buy my first property especially when I started saving a bit of money from that business. Yeah. He also taught me what to look for in property which is great and that helped me understand what type of property I should be buying. So definitely an inspiration there. I want to buy my first house.

Tyrone Shum:
Thinking back to the past Veljancevski gives us an overview of how he grew his portfolio over eight years…

Alex Veljancevski:
I purchased my first property in 2010, that was in Liverpool and then I purchased another one the same year I went in with my father for that second second purchase. Since 2010 I took a bit of a break because it was part of my corporate career at Macquarie. And then I started the business in 2015. Since I started my business in 2015 that’s when I really saw the equity that I had in my properties from Liverpool’s because from 2010 to 2015. Obviously Sydney went through a pretty substantial increase in prices. So all the available equity for me to use there and I use I then used that equity to purchase some properties interstate because at that time the yield just wasn’t making sense for me as an investor if I was to buy in Sydney.

So I’ve got two in Sydney I’ve got five interstate. We’ve just started purchasing in 2015.

Tyrone Shum:
With a substantial portfolio, he shares that while he hasn’t had any particularly terrible investing moments, he has had a few interesting problems to face along the way…

Alex Veljancevski:
I think I’ve been quite fortunate with my property. I haven’t had too many problems. I didn’t handle the central challenge quite recently and I mean I guess it tends to happen here and there where a lot of my tenants have had stopped paying their rent and there was a bit of damage that was caused property. But you can you can mitigate that risk by the insurance that you have. So luckily I was insured by a good insurer which which covered in a loss of rent reached all the property to its original state. So there was no financial loss on my end and the process was quite smooth. And when it came to claim that’s not that’s been a a one off experience for the last eight years and over seven properties which I think is quite reasonable.

Tyrone Shum:
Contemplating on what exactly could have caused this problem, he shares his thoughts on the issue…

Alex Veljancevski:
I believe it was a life event. I think that must have been a breakdown in our relationship there. We see this scene in mortgage broking as well when it tends to be a breakdown somewhere or a life event that happens in someone’s life.

Things can go wrong and as a result they are missing payments on rent or missing payments on a mortgage.

Sometimes occurs and I think that’s what happening in this case.

Tyrone Shum:
I guess the lesson in the story was make sure you’ve got insurance which you do have to cover the shortfall and potential loss in rent as well. So has that issue been resolved now or is that still ongoing?

Alex Veljancevski:
Yeah completely resolved. Went to Queensland to see the property. A few months ago. So the property was was fully restored. We had a new tenant within a week that the market bear the vacancy rates quite low in the areas that we’ve purchased. So it was easy enough to find another tenant and the insurer even covered the period that he took to find another tenant. So yeah there was no financial loss which was great except for the small excess that you have to pay back.

Tyrone Shum:
With a hefty quote and quite a bit of damage to the property, Veljancevski sheds light on what happened to his investment …

Alex Veljancevski:
The quotes came to about 25 000.

I think.

Tyrone Shum:
Wow. That’s Pretty serious damage then.

Alex Veljancevski:
Yeah yeah.

There was a lot of holes in the wall.

So when I inspected the property after it was restored and that was when I went I met the builder there was there was I had to fix everything up and and when I walked in there it was exactly the same looking house when I saw a couple of years ago and I said oh this looks good to me in the asking did I see it before and before he started working I said no goes. He didn’t see it. So I believe there was a lot of holes in the walls. Funnily enough there was that there was a missing antenna on the House, I don’t know how that occurred. You know it was just some odd type of damage that happened which you can’t really explain. Yeah yeah but I just kind of left it there and I was happy that it was all fixed up and off on our way.

Tyrone Shum:
On the other hand, Veljancevski thinks back to the time when everything clicked for him…

Alex Veljancevski:
It was it was most, most of the strategies that I had when I was investing the decision I made when I went to investing to state I was looking for for a good yield with good possible long term capital growth opportunities.

So when I explored the Brisbane market and I saw the opportunity there in terms of yield and in the job done all around it and the infrastructure that’s around that was more so of the moment where I said well this is very similar to the opportunities that my father saw in western Sydney all those years ago where locations right.

The infrastructure is right or heading in the right direction and there’s good job opportunities but the prices seem to be quite low compared to the rents that was being achieved in those areas. And when you look at the surrounding suburbs it kind of made sense when where to invest.

Tyrone Shum:
He adds that closely analysing his properties has only cemented this aha moment even further

Alex Veljancevski:
I’ve done valuations on the properties every year since since I’ve had them and the results were 4-5 percent growth over the last two to three years which is which I think is pretty good. Yeah and when you see the statistics in overall Brisbane they tend to be quite low of 2 to 3 percent. I think Brisbane has certain pockets some that are doing better some better doing worse. I don’t think it’s like Sydney where there’s a overall type of trend and more so regarding the detached housing in certain areas.

I have done a bit better in certain properties of Brisbane I think.

Tyrone Shum:
Veljancevski also shares what strategies he believes were eye opening for him and gave him the success he’s achieved now…

Alex Veljancevski:
The first property I bought in Brisbane was a mortgage south of the bank we were selling it so there was an opportunity there because the bank had restored the house completely and the property was it was fully restored and polished floorboards it was repainted everything looked pretty good inside. So when I had the opportunity of going to auction and realised I was the only bidder and I bought the property for the price that I bought it for the yard that was achieved was a 7 percent gross yield. That was also a moment where I saw that there could be opportunity here whereby you’re buying a property for let’s say 260000 on 600 square metres of land and the land value itself is 200000. So you’re kind of saying the building on there is worth 60000 so that’s when you kind of see an opportunity of an upward opportunity in the future.

That makes sense.

Tyrone Shum:
He explains that having potential room for growth is an important part of what he considers prior to purchasing…

Alex Veljancevski:
We bought that property of 260000 from day one or putting in it for 340000 then we did a valuation on it after a year and it was worth three hundred. So that kind of gave me a bit more confidence to keep looking in certain pockets and to buy certain types of properties whereby you could potentially get it below market value.

Tyrone Shum:
How do you come across properties like the mortgagee sale that you came across for the first one in Brisbane?

Alex Veljancevski:
We’ve made good relationships with some of the agents there and they kept us there was a mortgage broker so I obviously have finance finances approved all the time.

I was a quality quality candidate so I was essentially one of the first people they contacted when an opportunity like that came about. And when it did come about it it was an opportunity that I like then I’d look at it a bit more closely but I did have a fair few contacts there at the time especially in areas that I did a lot of research about that I had more and more of an interest in.

Tyrone Shum:
Cementing the importance of networking he also shares how many agents he needs to keep in contact with in order to have deals coming to him…

Alex Veljancevski:
I think that it’s six agents that would call me on on a regular basis and that’s with me going to Brisbane multiple times at that stage making those relationships. It took me I want to present about four times before I purchased my first property was just a lot of research went into and make making sure I had those relationships with agents whereby if an opportunity came about that made financial sense I was one of the first people they that they called call. And yeah that usually happen in a lot of the properties that I did purchase were at the back of that.

Alex Veljancevski:
I always believe that everyone deserves to retire comfortably and that’s a big reason why I’m a mortgage broker because I love people I love seeing people succeed. I like seeing people plan for the future

Tyrone Shum:
This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies.

I’m Tyrone Shum and in this episode we’re continuing the conversation with our guest Alex Veljancevski to delve more into the strategic approaches he has when it comes to almost fail proof investing, the eye opening familiar situations that drive him to help others through mortgage broking, and his own personal investing plans for the future.

Tyrone Shum:
Highlighting the importance of long term thinking when considering opportunities for investing, Veljancevski shares his thought process and strategy when it comes to investing…

Alex Veljancevski:
When I bought my first to say property that wasn’t more of a shrinking yield long term capital growth type of place the properties that I bought from there were also properties that could have more opportunity for for capital growth, while sacrificing a bit of that rental yield if that makes sense. So it was properties that were close to train stations that were rezoning for apartments. It was that’s more sort of a long term play of essentially thinking that maybe not this cycle maybe not the next cycle but the cycle after there could be an opportunity here whereby a developer might be interested but the biggest and the biggest rule I had was that was more of a bonus. I needed at least my interests to be covered by the rent. And as long as the interest component was covered by the rental income that I was receiving, my holding costs were low. So I wasn’t essentially making a speculative type of purchase and hoping for for that day to come because it was still a good investment even if it was never purchased by development and expense.

Tyrone Shum:
He adds that whilst he fundamentally aims to purchase property that can provide him with a buyer and a property regardless of re-zoning changes, he focuses on the long term outcome.

Alex Veljancevski:
The properties that I purchased from there consisted more of a rezoned type of property. The last few purchases have been in the Moreton Bay region close to the water in those rezone ockets close to that new train station that was established a couple of years ago.

Tyrone Shum:
Yep yep. So most of the properties purchased were all in the Moreton Bay area. Is that what you’re saying?

Alex Veljancevski:
The last the last two were and the three before that in Queensland were around the Logan area.

Tyrone Shum:  
Owning quite a few properties across Queensland, Veljancevski explains what his future portfolio plans are and how he aims to achieve them.

Alex Veljancevski:
The next purchase that I’m looking at potentially doing would be commercial in order to diversify the portfolio a bit more, and it possibly would be looking at purchasing that commercial property in Sydney with that market correcting in certain pockets.

With that in mind there are opportunities that are coming about in the market at the moment and I’m ready to see an opportunity when the right one comes about.

Tyrone Shum:
He explains that while he plans to bring in more cash flow by purchasing commercially, he’s also looking for properties that offer capital growth…

Alex Veljancevski:
I think a mixture of cash flow and good potential upside capital growth as well.

Cash flow is important but I always look at our capital growth side of things.

My dad said that it’s good that you get good rental yield but the majority of your money is made on the capital growth.

So you’ve got to always have that in mind so I’m looking at a commercial property that’s potentially close to a train station in Sydney that might not necessarily have the right zoning for development at the moment but in that proximity to the city that it’s not too far out that in the next few property cycles that could get rezoning. But while it’s not rezoning it’s still got good rental yield that will hold they will keep my holding costs quite low.

Tyrone Shum:
With such a thought out strategy in play, Veljancevski explains the why behind his hard work and how witnessing his Dad’s success in investing inspired him to help others…

Alex Veljancevski:
I always believe that everyone deserves to retire comfortably and that’s a big reason why I’m a mortgage broker because I love people I love seeing people succeed. I like seeing people plan for the future. I always look at my family situation. If he hadn’t bought those properties he is close to retirement age at the moment. He will be focusing or relying on his superannuation to retire. And these days in Sydney that’s just not enough. The cost of living is increasing here.

So you can’t just rely on stupid to retire. So seeing his journey of investing in property early on has allowed him now to retire not just on his super but on a strong rental return where he can retire without financial stress.

Tyrone Shum:
Posing as such an inspirational figure in his life, he shares that his father does more than just encourage him to buy more property…

Alex Veljancevski:
I think is he’s the one that tells me to slow down a little bit now to be honest. No no, I’m just kidding. He is very supportive of my decisions which is great. It’s good to have

His support went up when I make a decision and I don’t mean decisions lightly. There’s a lot of fall back that goes behind it. There’s a lot of calculations I don’t do in the background, that has to make sense from a few different angles. Yeah he is a great support.

Tyrone Shum:
However, while Veljancevski is more than happy to be in the property world now, he shares that it wasn’t always the case and his initial purchasing plans at 19 were quite different…

Alex Veljancevski:
I didn’t want to buy property when I was 19.

I wanted to buy a car I had saved up quite a bit of money from business and I wanted to buy a car as every probably 19 year old would like to. And I had enough. We’re just fortunate enough in our time to have enough to buy the car that I wanted.

But again my dad said no look into a property. Long term wise it’ll be a great decision and I said I’m 19, there’s a lot of time to buy property later on but I really sat down and thought about it and I said I’ve got a good opportunity here. So I feel lucky now that I that I did listen to him and I didn’t make the choice to go into property investment at that young age. He really did set me up and gave me that opportunity in 2015 to capitalize on that growth that I would not had previously. I did make it make a choice then to try to buy these last five properties. So yeah it was a great decision.

Tyrone Shum:
Yeah absolutely I know it’s it’s hard to say until you look back in hindsight go wow you know the difference between a car and a property a car depreciated over five years compared to a property that has appreciated over five years and the amount of capital growth you would have got. Wow.

Alex Veljancevski:
Yeah that’s right. Exactly right. I did put my money definitely in the better vehicle.

Tyrone Shum:
On another note, aside from having his father’s mentorship along the way, Veljancevski adds that there were a few other property guru’s that he has followed so far in his journey…

Alex Veljancevski:
Ah there was always people that you heard had bought 10 or 20 properties.

And I’d always go to seminars to see how they’re doing it. So it seemed like they were following that consistent path of buying properties with good yield and potential long term capital growth upside. So probably a good mentor – I do listen to Terry Ryder are a lot like his advice on where to buy property. It’s very similar to the way I think and I loved listening to him talk. So yeah it’s probably not a good type of industry expert that I follow quite closely. Excellent yes. Yes it’s similar to people like like him but yeah I think he is the main one.

Tyrone Shum:
Yeah he’s definitely got a very very good hot spot has persay his website to help you know interesting advice on which properties are or which locations to buy and ultimately at the end of day it’s up to us to make that final decision.

Alex Veljancevski:
That’s right things like right here for us is good information in any sense as it is which I like. Yeah it’s quite black and white which which is which is pretty good.

Tyrone Shum:
Coming up after the break we will delve deeper into Alex Veljancevski’s property journey and the personal habits he has in place that contribute to his success…

Alex Veljancevski:
Having a structured day definitely as I haven’t been consistent consistently I think is a big thing in life. Being consistent insisting what you do here is very important.

Tyrone Shum:
How he managed to grow his own mortgage broking business…

Alex Veljancevski:
I was extremely passionate about helping people, that came first no matter what and delivering, delivering excellent customer service so I always believed at the start that if I’d only delivered exceptional and great customer service that people would refer and the business would just grow from that

Tyrone Shum:
What drives him to bet a high risk for a high reward…

Alex Veljancevski:
I’m excited to go into the commercial market. It was a market that I always thought was was quite risky.

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

Tyrone Shum:
So knowledgeable in his expertise, another area Veljancevski states he has gotten his information from in regards to property investing and life are from a few books…

Alex Veljancevski:
There’s a book that comes to mind once caught up Real Estate Mistakes by Neil Jenman.

I read that a long, long time ago. So Neil is an industry expert as well which are which I like listening to and reading some of his books – I read a very long time ago. I’ve obviously read the popular books but not not so property for the Rich and Poor Dad.

I like what he has to say and in the end the other ones I really come to mind at the moment.

Tyrone Shum:
Aside from the mental and educational side of things, Veljanovski admits that an important aspect to his journey and success is his personal habit of ensuring his day is structured…

Alex Veljancevski:
Having a structured day definitely as I haven’t been consistent consistently I think is a big thing in life. Being consistent insisting what you do here is very important. So especially in business what we do every day we do it consistently well. We don’t fall off the mark any time but having a structured day, a planned out day knowing what your tasks are. I believe it is extremely important so yeah it’s a very big quality to have consistency and structure.

Tyrone Shum:
He reveals that it were these types of habits as well as his genuine passion for helping others that really allowed him to excel as a mortgage broker and get to where he is now…

Alex Veljancevski:
I was extremely passionate about helping people, that came first no matter what and delivering, delivering excellent customer service so I always believed at the start that if I’d only delivered exceptional and great customer service that people would refer and the business would just grow from that even though it’s like yeah I didn’t know what time it is.

It’s like trying something that you don’t really know what the result is going to be. But if you always have the client’s best interests at heart and you deliver that great customer service and those great consumer outcomes it really does work.

People do recommend you to their family and friends and that’s where the business has grown. 90 percent of our business comes from customer referrals so they’ve taken my business to it to another level in that in the last couple of years and that was the big thing and I was really passionate in what I was doing I really enjoy what I do. I wake up every day excited to go to work and after four years of really having some intense working hours every day trying to grow a business. But yeah you have challenging times. Obviously everything doesn’t always go right in.

In my line of work there are some deals that don’t always go to plan but yeah having having that passion and then really wanting to help people is really rewarding and it’s something that I love doing.

Tyrone Shum:
It’s sounds like hard work and commitment and customer service defying all paid off for you.

Alex Veljancevski:
Yeah very long hours at the start.

My hours consisted of 12-14 hour days consistently of six or seven days a week for that for the first year but it seemed as though that it didn’t seem like hard work at the time it seemed like I was really enjoying what I was doing so and which I still continue to enjoy with even more weight in coming to our business now doing record bottoms in our business to what we were doing before. Yet that passion and enjoyment is still there.

Tyrone Shum:
Thinking back to the best piece of advice he’s ever received, Veljancevski explains how implementing this piece of advice into his life has helped him both in general and along his property journey…

Alex Veljancevski:
I think the best advice I ever received was to always give to ask you to provide respect to everyone that you meet and always do the right thing by people. So doing the right thing by people I think is extremely important not just in business but in your personal life.

If you’ve got the best intentions at heart, you’ll succeed in making great relationships. And that’s something that my father always always taught me you always have to do the right thing by people who have respect and people that have helped you. Always remember that.

And I think that that’s that’s that’s essentially how I’ve lived my life growing up and the business ethic that I’ve had growing the business has always been putting people first and really really wanting to see them being happy and achieving great outcomes. So yeah that’s the thing that’s the biggest advice that I’ve received. One of the one of the best advice.

Tyrone Shum:
Aside from the best advice he’s ever received from someone else, Veljancevski tells us what advice he would of given himself 10 years ago…

Alex Veljancevski:
I would probably say I take my job quite seriously.

When I started my business I was very serious in terms of making sure everything went right. I think some time went past where.

I would say that I could have done things a bit better I had maybe a bit more balance in my life in those couple of years and I could have made my job a bit more fun.

Looking back at it now that you know when you’re going a business at a time when you’re immersed in there I think that that obsession of making sure everything goes right takes over but knowing what I know now I probably could have done things a bit differently so I will tell myself 10 years ago that maybe enjoy it a bit more then taking it that serious.

Tyrone Shum:
Yes and that’s really good advice.

It’s great. I resonate with a very very well because building any business is not easy and I know that those first few years we start building up something like that takes a lot out of you. But it’s a look back in hindsight and go, I wish I didn’t do this, this and this but you know.

Alex Veljancevski:
Yeah.

Tyrone Shum:
It’s a learning lesson.

Alex Veljancevski:
I mean you’re happy about the outcome are you happy about everything that you’ve you’ve achieved and the clients that you’ve helped out but I think you can you can still do that and yeah you have to have a bit more balance in your life. So I think um yeah I would probably done that a bit differently.

Tyrone Shum:
Thinking ahead this time, he also shares what he’s most looking forward to in his property career…

Alex Veljancevski:
I’m excited to go into the commercial market. It was a market that I always thought was was quite risky. Commercial tends to have more vacancy rates.

And that element of extra risk. But I’m really excited to to top our market not only to diversify my portfolio I think there’s good opportunities coming around in Sydney.

So I think that’s going to be a very exciting time for my property investment really in the coming future.

Tyrone Shum:
With so much success in his property journey thus far and much more to look forward too, Veljancevski spills the details on whether or not he believes his success has occured from skill and intelligence or from luck…

Alex Veljancevski:
Oh I’d like to say that it’s all my skill.

I’m kidding.

I think you need a degree of luck somewhere, it definitely come into play somewhere but however I think knowledge and skill has a lot to do with it over an extremely long time. When I started a business to make sure that I’m properly equipped in helping my clients delivering the best consumer outcomes. There was a lot of training was a lot of practical experience that went into it. So I think that that’s a huge thing and I had a background in accounting coming from a family of accountants. So there’s a lot of study that went into being prepared to do to do what I do and obviously that investment journey helped has helped me, help investors gain finance as well. So combining that mortgage broker knowledge investing knowledge to help people achieve those outcomes so there is I think a lot of a lot of it is knowledge and capability and competence. However there always is that small degree of luck that has to go in the way I think and I don’t know what that is maybe if you always have as I said before with good intentions great good luck at the end.

Tyrone Shum:
On a final note, in regards to his mortgage broking business, Eventus, Veljancevski mentions what he believes makes his business stand out from the crowd…

Alex Veljancevski:
I think it’s our success and statistics.

When we were speaking to the banks recently we found out that the quality of loans that we submit through are definitely much higher than the industry standard which is just great to hear.

Over 95 percent of loans that we submit submit to the banks get approved. So there’s a lot of background work that goes into preparing an application in the best possible way to get you the best possible chance of getting approved.

You really have one go and getting an approval so you’ve got to make sure that your application is presented in the best possible way and with your credit knowledge there’s a lot of work that I’ve done in developing our credit score making sure we know credit policy inside out knowing what bank has served at the time at a particular point in time. Some banks don’t want investment loans at a particular point in time. Some do. You’ve got to really know where you’re taking a deal and what makes your exploring in a particular bank.

So I think that as an extremely good thing that we do well you know that’s something that we’re really proud of and the banks really really reward us in terms of making sure that our applications get looked at faster.

We can do and deliver a great speedy service. The average time of approval was 24 to 48 hours once to submit a loan so your application is and isn’t sitting there for a long time and after it gets picked up by an assessor after a day or so it usually gets approved on the first go without any type of rework because we supply everything that needs to be supplied and we explain the deal really well at the start so I think that’s something that we really try to emphasize and do well.

Tyrone Shum:
He also adds why making sure everything runs smoothly the first time is so important for his clients…

Alex Veljancevski:
If you get it wrong the first time it’s very hard to go to a different lender as well.

If you get declined by one banks it’s very important to get it right and start making sure you get the structure right. That’s a big thing for investors as well I come around on a lot of loans that haven’t been structured correctly at this time and it’s it’s quite difficult trying to untangle that later on. So a lot of our work is is trying to get structures that haven’t been done right at the start into a more a more viable type of structure for the client from a tax perspective. So it makes it so much better getting a right at the start because I’ve seen these type of deals go wrong when they haven’t restructure correctly.

Tyrone Shum:
With such exceptional service, the desire to help others grow in their property journey and the results to show for it, you can contact Alex Veljancevski or his mortgage broking business via the following methods:

Alex Veljancevski:
Join us live and call me directly my mobile number is 0 4 0 4 3 1 8 2 4 9, or they can visit the website once business is called Eventus financial and it’s spelled EV EN finally TUS. They can go to www dot eventus financial dot com dot au or google us they’ll find us on Google.

And yeah we’re more than happy to help anyone that will require our assistance in getting finance whether that’s purchasing their first investment purchasing multiple investment properties.

We’re here to help.

Tyrone Shum:
Thank you so much to Alex Veljancevski, our guest on this episode of Property Investory.If you want to hear more about his journey, then visit our website at www.propertyinvestory.com.

This episode is available on:

  

Looking To Buy
Property In 2019?

Learn from 37 of Australia’s leading Property Experts by downloading the Property Investment
Buying handbook today.

Top Tags