How to Successfully Invest in Australian Property with Babak Haeri
Babak Haeri is a property buyer’s agent and the director of three different companies, Bobby’s Landscaping, Sydney Strata Gardens, and The Investors Agency. We learn more about how he is able to invest in Australian Property and juggle three successful companies, his role in each of them and how he was able to start them.
Join us as we delve into his transition through different industries, how he started his property investing journey, the interesting story of the role his father played in purchasing his first investment property, the types of properties he likes to buy which you will not want to miss, the amazing moment he realised that he was going down the right track and much more on this episode of Property Investory!
Haeri has been able to establish 3 successful businesses and we find out what his typical day looks like with such a busy schedule.
The days vary quite a bit. A few things that are sort of non-negotiables in my day, I meditate for 10 minutes in the morning and then I read for about half an hour. And then the day sort of starts from there. Whether it’s meeting with clients, meeting with referral partners, researching the market, researching property cycles, meeting the boys on-site for the landscaping companies at times. I try and meet them weekly. I guess another non-negotiable is I need to train every afternoon. That sort of keeps me sane. I find out if I stopped doing the exercise, I’m a bit scatterbrained.
It’s hard enough to look after 1 business, let alone 3. No wonder he struggles to be able to switch his mind off.
I have always struggled with meditation and I’ve tried it so many times over the years and I’ve never really been able to it and I’m still learning. So out of the 10 minutes, there’s really only like two minutes that I’m actually switched off and actually meditating the rest of the eight minutes, my brain’s still going a million miles an hour, but that two minutes feels amazing and I guess it’s a matter of training yourself and gradually turning the two minutes into three, four and five and expanding it from there.
We find out about how he started Bobby’s Landscaping and how that transitioned him into creating his own strata business.
I started Bobby’s Landscapes, which is a landscape maintenance company, about 10 years ago. I had about one or two years of experience working for someone else, but then, I mean let’s not beat around the bush, it’s not exactly rocket science. Garden maintenance is pretty simple. So I went out and started on my own. Then about four or five years ago when there was the construction boom in Sydney for strata blocks, I noticed there was quite a shortage of reliable landscape maintenance companies that only focus on strata blocks. So there was a shortage of reliable good quality service being provided there. That’s when I started Sydney Strata Gardens. And that transition was quite simple because I already had the staff, I already had the cars, I already had the tools, structures, and procedures all in place.
So that was quite a simple transition. I thought, well, this is the dream. Let’s grow a company to a point where it doesn’t require your time. You can take a step back and you have all this free time. But very quickly, I was quite unhappy when I had all that spare time and I was really restless and I didn’t really have much of a drive or passion or purpose. Very quickly I realised that this isn’t for me. I need to get back into something and property is what I’ve always had a healthy obsession with.
Sometimes you need to work in an area that you might not be passionate about but it can lead you in the right direction.
You can’t do intensive labour work forever. That’s why I scaled the business to a point where I essentially had staff doing most of the work. But going back to landscaping, I actually have no interest in landscaping. I don’t have any passion in landscaping, which sounds a bit funny. I only ever saw my landscaping companies as a vehicle to allow me to do what I wanted to do in terms of property. So that was over the past 8-10 years, the landscaping, I didn’t see it as landscaping. It was just a business that can allow me to follow my real passion, which is property.
Haeri shares the story of his background and where he grew up.
I came to Australia when I was two years old from Iran. I’m 30 years old now, and we first moved to Wollongong just about an hour south of Sydney. And then from there, we’ve pretty much been on the north shore and northern beaches of Sydney all over the place, Chatswood, Willoughby, Roseville, all across the northern beaches. And now I’m in Narrabeen and I wish I came to Narrabeen earlier. I love it here.
We learn about what Haeri decided to do after he finished high school.
After high school, before I started the first company, I was a construction labourer for awhile. I did office removals for awhile, office relocations, office removalist, construction labourer. My parents own a shop in Willoughby as well. It’s like a Persian grocery store, so I was also working there, just giving them a hand. I did a bit of everything prior to starting my own company.
Going straight into the workforce after high school provided him with some valuable experience and a period that he can look back on fondly.
I look back now and I really appreciate it because I got to spend so much time with my parents. At the time I didn’t appreciate it to be honest. At the time I was quite lazy and unmotivated and it was the easiest sort of thing to do. I didn’t really have a reason to try and find another nine to five job, five days a week because I always had the parent’s shop to fall back on. And like I said, at the time it wasn’t really appreciated, but now I’m very grateful for the amount of time I’ve got to spend with them because as they get older you realise you appreciate it so much more.
He has a profound respect and appreciation for the labour industry after his stint working in construction.
I applied with the recruitment company and they ended up finding me a job as a labourer for a construction company. That was literally only a few months that I did it. That was hard work. I have so much respect for those who are in the construction, labouring industry and I guess lots of labouring industries, but that was really really hard work. At that time I didn’t have a driver’s license, so it was getting up at 4:35 in the morning, getting public transport to the other side of Sydney and literally just digging all day or moving stuff around all day. I didn’t last long. As I said, it was only a few months, but it was definitely long enough and I learned a lot of things from it.
So on the construction site, it’s normally 7:00 am to 3:00 pm. However, the day was really from like 4:35 am until you’d get home from 5:30-6:00 pm in the afternoon. So the days were 12 hour days or more, but the actual labour itself was eight hour days, but eight hours when you’re digging and moving bricks and cement and soil and all this sort of stuff, eight hours a day, it feels like a lot longer.
How was the, I guess in terms of conditions and maybe even just the remuneration behind it that like was that a good, good enough for you to actually do that for that short period of time?
Monetary wise, I guess it was for my age, I would have just left school then. So I think I was 18 or something. I can’t remember how much I was getting now. It would have been around 20-$25 an hour. But 10 years ago when you’re 18 years old, that’s decent money when you don’t have many overheads. It was also the experience I learned like, the skills I learned from that, the experience I took away from it was that I need to get myself sorted because I can’t do this for much longer. At that age I realised I need to do something with myself.
Haeri moved on from construction and went into gardening. He explains how he learned a lot from that experience.
I worked for another garden maintenance company on the northern beaches of Sydney for about a year or two. I worked with someone else and then after getting about a year or two experience with someone else, I just went out on my own. Like I mentioned earlier, it’s not exactly rocket science as long as you learned the basic skills, there’s a lot more you can learn on the job and running the business was a lot harder than learning the tools.
Opening up and being the Director of your own company brings with it a lot of challenges and he shares some that he faced.
I learned to be a lot more accepting and not everyone has the same mentality as you do. I learned that at quite a young age. And just trying to, in terms of staff, what I learned the most is, how different people like to be motivated and it’s not always money. I’ve learned that a lot over the past few years, that your staff are not always motivated by money. There’s so many other things that they’re motivated by and it’s just figuring out what it is that motivates each person. That was probably my biggest takeaway.
I’ve got other structures and processes in place where I’ve been really lucky to have a good manager on board who looks after it, looks after the staff and does all the quality control. I’m very lucky that I’ve got a good team behind me in terms of the landscaping stuff and that’s allowed me to focus on my other passions.
We hear an extraordinary story about how his property investing journey got started.
I started about eight years ago when my sister and I started working full time, we were both living with our parents still and my dad sort of knew that we were working full time and were not saving any money. So he gave us the ultimatum. It was either move out of home and start paying rent or start paying him rent. Or the third option was that he’s going to buy us our first investment property and we pay the mortgage. Obviously we took the latter one at that time. We were just like, that was the easiest option and we can have a property but we didn’t really know the power behind property and where it can get you. It was just my dad sort of gave us that option and we took it on board.
To elaborate on that and the reason why I’m saying this is because I know what human nature is like. Just in case there are a few people that are going to listen to the podcast and they say, Oh well his dad bought him his first property, then I can’t do it. It’s too difficult, this and that. Because I know we all look for excuses as to why we can’t do anything. Yes, we’re very lucky and grateful that he did do that. But everything we did, everything my wife and I have done after that, we saved, we worked hard, and we paid a deposit to do that ourselves. So we’re very lucky. My dad helped us with the first one, but if there’s anyone listening, that shouldn’t be a reason why or give themselves an excuse to not hustle and not save the money and not go out and do it. It’s definitely possible for anyone to do. We were not on high incomes or anything. We were on a very, very average income and we just sort of hustled our way through and we were able to do it.
The next property that he bought was a great learning experience for him when it comes to buying and selling.
After St Ives we bought an apartment in Killara, a two-bedroom apartment on the North Shore. Again, little old red brick building. We bought an apartment there and then we ended up selling that one about nine months later. In hindsight, maybe we shouldn’t have, but the reason why we sold it was it was a very small block and the unit above us ended up going for, I can’t remember the price now, but it ended up going for a really high price. And we just thought, if we get the same price for it, we’re only going to end up making, I think it was about 90,000 or $100,000 in one year. I think this was about seven years ago or maybe six years ago. And then we thought, if we put it back on the market then we’re going to get a good price for it. So we ended up selling that one about a year later. I made some good money. In hindsight, I don’t know if that was the right option or not, but I guess the most important thing is we got the money and we were able to use that to get into property again. So we didn’t waste that money.
From Killara, we went to Brookvale. We bought an apartment in Brookvale, just a one-bedroom, but it’s got a 90 metre squared courtyard and that one has about 5.8-5.9% rental yield. So for those who know Sydney, it’s normally 2-3% rental yields. That’s getting about 5.8% at the moment just because when we picked that one, we wanted to pick a property where it’s gonna be in high demand and a lot of people say steer clear of one-bedrooms, but if you’ve got a one-bedroom with a 90 meter squared garden, that immediately has a lot of demand because there can be downsizes. There can be people with pets, there can be young couples that don’t need two bedrooms, but they want to garden. So that’s been rented out. We lived there for about one or two years. And ever since then, it’s been rented out every single week at 5.8% rental yield.
That’s been a great, great performance. So that was Brookvale. I sort of understood where Sydney has reached its tipping point and we wanted to invest, however we sort of understood that Sydney is going to come off the boil a bit. It’s going to plateau for the next four or five years. So we started going borderless investing. So we moved to Grafton in northern New South Wales.
We delve into how Haeri will invest in risky areas as long as there are signs that show a profit could be turned.
I don’t mind investing in regional cities as long as you know there are several industries that are driving that economy. I would never go and recommend our clients or anyone to do a mining town. However, if you go to a regional city and it’s got, for example, an education industry, it’s got hospitals, it’s got agriculture, it’s got a few different industries, then it’s safe and there’s a very high probability that there’s going to be strong capital growth and you’re going to get very strong yields in those areas as well. We bought it in Grafton. And the reason why we did that is that they’re building one of the biggest jails in Australia, just north of Grafton.
And then I guess when you’ve got 1000-2000 employees that are going to be working there and their family move there as well, essentially that’s going to change the whole area. And now there’s been several billion dollars worth of infrastructure in the Grafton bypass highway. They’re upgrading the hospitals and a whole heap of other upgrades in there. That’s why we went to Grafton. I think we bought one place. We bought one place for $280,000 I think it was. But at the moment we’re getting rented for three. We’re getting rent for $390,000.
It is never too early to learn about the value of having profitable properties and Haeri learned a lot from his father.
My dad has always been interested in property. They had like an investment property in Irvington close to the perimetre of New South Wales in Sydney. They had an investment property there and my dad always encouraged us to invest in property, but most people when they invest in property, you buy one or two and you’re normally priced out or kept out and you can’t continue investing. So there was no strategy behind it or how to create real wealth through property. But my dad always did tell us, property is the safest asset over the long term. You’ll do really well in the long term.
We hear about the properties that Haeri currently has in his portfolio and whether there are more coming in the near future.
So we’ve got St Ives, we sold Killara and then we did Brookvale and then Grafton. And then also in Grafton, we bought a block of land and did a subdivision project and now there’s two there. They’re going to be completed next month. So there’s two other houses in Grafton as well, which are due for completion next month.
Some property investors will go through some tumultuous times but others are fortunate enough to have a lucky run with their portfolio.
I was trying to think about my worst investing moment and I think I have to be very lucky to say that I haven’t experienced one. I think the first property we bought in St Ives that was off the plan and that was luck. That could have very well and truly set us back four or five years because it could have been the wrong purchase. However, that was complete luck that we bought at the bottom of the market and it went up. So that could have potentially been our worst investing moment. But I’m very grateful to say that we were lucky to join at that time. And so far we’ve been pretty lucky and haven’t experienced anything too bad.
He explains how the property in St Ives could have possibly been a disaster for him.
When I say that could have been our worst investing moment, if we bought at the wrong time of the market, my dad likes to think that he knew what was happening with property cycles and property markets. Maybe he did, but I certainly didn’t at that age. I didn’t, it was just, we saw this development, you get sold by the big shiny objects and the shiny development and we bought there and it happened to be the bottom of the market. However, that could have very easily been at the top of the market. We’ve heard all the horror stories. If you buy off the plan and at the top of the market, you either need to come out with a larger deposit because the banks aren’t going to cover it or it gets evaluated under or it’s just a dodgy development. There’s so many things that can go wrong. But we were quite lucky that the build itself was quite good and we didn’t have any issues. And it came when it got completed and valued higher than what we paid. So we had a great experience.
Even though he wouldn’t recommend purchasing what he did in St Ives, sometimes things simply just work out.
This was an apartment. So we ticked every single box of what not to do with property investing with our first one. And we still came out, as I said, we’re lucky we came out on top. This was a big Meriton building. We had the pool, the gym, had the spa, had the lifts, it had everything. Every bucket that you’re not meant to fill with property investing, we filled with that one.
The startup costs were relatively high, but at that time rental yields were quite high as well. I think the apartment costs about $570,000 and we were renting it out for around $550, so it was at that time, eight years ago, the rental yields were quite good in Sydney. So if you’re paying high for strata living it doesn’t really matter. But now if you’re getting into a property that’s you’re only getting 2-3% yield and then you’ve got all the strata levies on top, it’s a lot more difficult to hold onto.
In contrast, we learn about a moment in his career where he realised that things were going to work out better than expected.
My aha moment would have been after my wife and I got married and we had our honeymoon and we were living in the apartment in Brookvale. We started paying off our mortgage quite aggressively and at that same time the Sydney prices were going up rapidly. Every time I would look in, like every couple of weeks or a month I would look in our bank account, the mortgage, just to keep track of everything. I saw the mortgages coming down, looked at the prices again, price has gone up and that was really where I saw how much wealth you can create in property. So that’s where I was like, I want to be able to do the same thing again with other properties and essentially instead of us paying it off, have tenants pay it off and if you can recycle that same thing several times, that’s where you create real wealth.
So basically seeing how things were going. Just to explain the part, when you’re looking at the bank account, things were going up and down and he’s saying that you hadn’t revised the property but you just started seeing more income coming in. Is that what you’re referring to?
We just started paying down the debt and I was on top of the markets at that time. So I also knew how high the prices were going. Literally every month the prices of the properties were increasing. So we were paying down the debt, prices were increasing and I could just see how much equity and value you are creating through the property.
With our St Ives or Killara place, I didn’t look at the bank account once. I just set up a regular payment out of my account into the other account and it was just a regular payment that was getting put in there. But I never saw the actual numbers of the mortgage coming down and the value going up. My Brookvale experience was my first experience of seeing the actual, and I mean, like I said, with Brookvale, paying it down a lot more aggressively. So that’s where I saw how powerful property can be because that’s when I actually saw the numbers in front of me.
Learn How Babak Haeri Invest in Australian Property and Builds A Property Portfolio That Reaches Your End Goal
We delve into the investing strategy that he has incorporated into his many businesses.
The strategy we have now is, I mean my advice to anyone looking to start out is before you purchase any property, figuring out what your end goal is and work backward from there. So that’s what we do with our clients. Before we purchase any property. We figure out whether they want a $100,000 passive income or $200,000 passive income or $300,000, whatever it may be. We work out what their goal is and we work with our mortgage brokers. If they have their own, they can work with their own and essentially we figure out how much rental yield they need from each property and that tells us what the value of their portfolio needs to be. And depending on their age and their risk profile and everything else, then we put a strategy into place. So that would be my number one tip for anyone looking to start out.
And I guess our strategy has changed over time. Our first one or two properties, we didn’t have a strategy. It’s just bought and hold and see what happens. However, you know, now we have a target where we wanted to reach in terms of passive income. But I’m sure a lot of your listeners can relate and I’m sure a lot of other guests you’ve had can relate. You reach your targets and you realise that it can get quite addictive very quickly and you want to reach bigger targets and bigger goals. So I guess our strategy at the moment is buy and hold. But the rental yields need to be high enough for our properties not to cost us anything because my wife, you know, we’re going to be having kids shortly, hopefully. So we don’t want to be having a property portfolio that’s costing us an arm and a leg, which my wife is going to have to rush back to work after two months or three months because otherwise, we’ll lose the properties. We don’t want to do anything like that. So our sort of strategy is to find properties with high rental yields that are going to have strong capital growth and essentially hand them down to our kids when we’ve done our time.
We find out more about Haeri’s subdivision project and we run through some of the numbers with him.
We just saw this good opportunity to come up. It was a splitter block. The land costs were literally $70,000, subdivision costs were about $30,000 and then we could build a house for $270,000 each. So the numbers made sense. We knew what it would be worth when it’s finalised and that’s coming to completion shortly so the numbers made sense so we just jumped onto it and got it done. However, would I do it again? I probably wouldn’t do it again to be honest because sure we’re going to have some good growth there when it’s completed. But we’ve also been sitting on our hands for about 18 months going through all the council approvals and the construction and everything, it’s taken 18 months and you’re essentially missing out on opportunity costs elsewhere.
Haeri shares the opportunities that he could have taken on if not for the 18-month development.
There have been good opportunities in Adelaide, good opportunities in Brisbane. I think there’s been a lot more movement in those areas over the past one or two months. So I’m not burning too much. But if the election happened a year earlier and we saw the interest rates drop a year earlier and those markets moved a year earlier, it would be a lot more stressful as you’d be sitting here and you’d get really itchy feet. Just sort of like, you can see the opportunities that are out there, but the banks will not do anything until you finish your construction and until you have tenants in there, they’re essentially not going to give you the money. So thankfully we haven’t missed out on many opportunity costs. But I think over the past one or two months there have been a few markets to move upwards quite quickly.
We learn about some of the motivating factors that keep Haeri going and he explains some of his larger goals he wants to achieve.
My biggest goal at the moment is to have that freedom and the spare time with my businesses. But essentially that’s a waste when you can’t spend it with those you love. So my goal at the moment is to replace my wife’s income and I want to try and do that in the next 24 months. So essentially we can take time off together. When we have kids, we can spend time with the kids as we choose. That’s my why and my short to medium-term goal is to try to replace her income. However, in the long term, as I said, it changes. At first, it was, you know, you have a passive income target and then that changes to a bigger target. And now it’s just to have that freedom and that luxury to work because we want to, not because we have to.
After starting up successful landscaping and strata titling businesses, we learn about the reason behind getting into the property industry.
Property is what I’ve always loved. It’s what I’ve always had a healthy obsession with. Like I mentioned earlier, my landscaping companies were purely a vehicle for me to do what I wanted to do in terms of property. When I had that freedom from the landscaping companies, I realised that it’s just not in my personality to not have a purpose and a reason to get up out of bed every morning and really be working towards something. So that’s where I started the buyer’s agency. In my head, I fast forward 10 years and the biggest fear for me was being in the same place I am now. Not that I’m not grateful for being where I am now, but having the landscaping companies and having that spare time, that actually scared me having that spare time. So that was my driver, that was the driving force to start the buyer’s agency and I guess help other people sort of create the freedom that I was able to do.
The buyer’s agency, it was mainly just to create freedom for people. It’s a scary thought to have to work, 8, 9, 10 hours a day, five days a week at a job that, you know, 90% of us don’t want to do until we’re 70. That’s a really, really scary thought. Then if I can help other people try and get out of that sort of rat race, that was the real reason why I wanted to get into it.
Many successful people can point to others as having helped them throughout their career, Haeri shares some of the mentors he has had.
Maybe you’ve been my number one mentor, Tyrone, my number one mentor over the years. I’ve listened to your podcast religiously. I think most people that come on here, it seems to be a common thread that most people, they educate themselves through the same sort of podcasts and books and whatnot. Your podcast has helped me a lot. Just listening to other people and getting different ideas and seeing that it really can be done. Also, I mean, Property Couch, Bryce, and Ben, they’re always full of great knowledge. There’s Smart Property Investment Show, so they’re the podcasts I’ve sort of listened to that have helped me. That’s sort of how I started with the podcast. Ben Handler from the Buyer’s Agent Institute, Ben Handler helped me a lot with some extra training and the course he provided that gave me a lot of knowledge and helped me sort of grow the business faster than I probably could have done.
We find out about some of Haeri’s great book recommendations and he shares how they have helped him achieve his goals.
I feel like every person, whether they’re an investor or a buyer’s agent or in real estate, it’s like a tape recorder. Everyone recommends the same books and I think there’s a reason why they do that. So with me, ‘Rich Dad, Poor Dad’, ‘The Four Hour Work Week’ helps me a lot in terms of my landscaping businesses. ‘Barefoot Investor’ was good. I don’t agree with everything in that book. However, there are some good points in that book and it’s quite simple for anyone looking to start out and can’t get their finances sorted. More recently I’ve gotten into less books about education and finance and stuff and more books about mindset and human nature and whatnot. So the ‘Laws of Human Nature’ by Paul Michael, that that book was really good. And also ‘How To Win Friends and Influence People’ by Dale Carnegie, that book sort of stayed with me over time as well.
He has listed some of his favourite books, now Haeri delves into how a particular book, ‘The Four Hour Work Week’, was able to help him.
It would be with the landscaping businesses, I guess it’s just the structures, the structures that he advises and also in terms of the way to set up your emails and use VAs and there’s so many different things that he sort of mentioned in there. I guess for me it was mainly structured and how to be with the landscaping company, you’re dealing with maybe 50, 60 emails a day. So I guess how can you minimise them or how can you communicate with people in a way where the thread can be short and as fast as possible. That was a great book for me when I was scaling the landscaping companies.
We find out about the piece of advice that has resonated most with him.
I think the best advice I ever received was stopped trading your time for money. I think that can mean a few different things, but whether that means you start a business, whether it’s a side hustle, so you start a business that doesn’t require your time there. Whether it’s an online business, product-based or service-based business or whether it’s a service-based business, you scale it to a point where it doesn’t require your time. Also, I guess just investing, whether it’s in property or shares, you’re not trading your time for money anymore. Your wealth is going to be growing while you’re sleeping. Just as long as you’re trading your time for money, you are so limited with your freedom and the amount of income you can make. That was definitely the best advice I’ve gotten.
We delve into Haeri’s perspective on some of his own personal habits that have contributed to his success.
Education. Education by far, if we’re talking about personal habits that contributed to my success, it would be personal education and mindset. The psychology and mindset. They’re by far the things that have contributed the most if you, like you mentioned earlier, if you don’t have your mindset right, if you’re easily influenced by the media or by what the cab driver is going to tell you or by external factors that you can’t control, then really you’re never going to reach your targets or your goals or whatever they may be. Because there’s always fear-mongering going on. So I think mindset and education and I think the more educated, like people’s perception of risk comes from their lack of knowledge or the amount of knowledge they have. So the more you educate yourself, the more you realise, like I think shares are risky, but the only reason why I think shares are risky is that I don’t know anything about shares. You know what I mean? So the more you can educate yourself about something the more you realise that most likely there’s little risk or the more you can put the steps in place to avoid the risks that are involved.
Education has played a big role throughout Haeri’s career, though are there certain habits that he has incorporated?
The meditation would be it and also reading every morning for half an hour. So I like to read about something like a new topic, not necessarily about property investing. I research property during the day. So in the morning, I like to learn about something completely different. They have been the two habits I guess. And I guess if you want to take in the training, the exercise in the afternoons, but that’s really been it, to be honest.
Haeri has been able to establish various businesses within different industries but what would he have changed about himself in the past?
I feel like I am who I am now because of what I did 10 years ago. There’s not much I would change. To be completely honest. I couldn’t have gone more aggressive with property investing, for example, because I didn’t have the income then. So as soon as I had the income, I went into property. So nothing in terms of starting earlier. Probably the only thing that can really come to mind is when I was a little bit younger. Osher Günsberg mentioned that there was an interview with him a while ago and I could sort of relate to that. It was going home a little bit earlier, nothing good happens after 2:00 AM. So if I’m going back 10 years ago to my early twenties, I think that would be it as well. Go home before 2:00 AM don’t hang around till after 2:00 AM because nothing good happens then.
I don’t really have much and even when I say go home before 2:00 AM, I mean I am who I am now and I’m very focused and driven now because of how I live my life. When I was 20 or 22 or whatever I saw. I don’t have any regrets, but if I had to pick something it would be going home before 2:00 AM.
Haeri shares what he is most excited about coming up in the near future.
We’ve been sitting on our hands for about 18 months because of this subdivision in Grafton. So this is going to be built in the next month. So we already know what we’re going to do. We’ve spoken to our brokers, we’re ready to go, we’re going to purchase two properties in Brisbane and then we’re just going to consolidate. To be honest we have gone quite aggressive over the past couple of years, so we’re just going to consolidate, let the property portfolio do its thing, let it grow. It’s not costing us anything to hold onto. So we’ll just let it do its thing. After a couple of years when or if my wife, you know, goes back to work, then we might look to acquire some more. But we’re looking forward to just sitting back and letting the portfolio do its thing. Every time we’ve had a deposit we’ve sort of just gone in and acquired a property and it can be quite intense at times. So we’re looking forward to enjoying the process a little bit more now.
And the last question, I have ways. How much of your success is due to your skill intelligence and how work and how much of it is because of luck?
I think the first property and scenarios was luck. I mean in terms of, I think we’re all so lucky to be living in the best country in the world, arguably the best city in the world. So I think we’re all so lucky to be here. But in terms of investing or whatnot, the first property I would say it was luck. As I said, we bought it at the bottom of the market, but we didn’t know about buying at the bottom of the market. But since that one, I can confidently say everything’s sort of been very well educated and decisions are based on lots of due diligence. So I think after that it was more skill and hard work and knowledge, but the first one was luck.
If you want to keep in contact with Haeri after this episode he provides his details for you to do so.
They can connect with us on all the socials: Facebook or Instagram. Also our website, but I mean does anyone even go to websites these days? If you do, you can go to theinvestorsagency.com. For our listeners, I’m happy to offer anyone who’s looking to purchase an investment property, if they get in touch with us on any of the socials, I can send them a free report based on rental yield, supply and demand and what that property market is going to do. So if you get in touch, I’ll send you a free report and that can hopefully educate you guys to make either a good decision or hopefully stop you from making an expensive bad decision.
This episode was produced by Andrew Faleafaga with narrations and interviews conducted by Tyrone Shum.