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Kristoffer Keast Transcript

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Kristoffer Keast:
I think that’s my a-ha moment, just realising how much money is made by high rental yields and not buying mine towns but buying in towns that you know have a slow growth but also high rental yields so you get the best of both worlds, to work towards our financial freedom.

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

I’m Tyrone Shum and in this episode, we chat with Kristoffer Keast, who from humble beginnings rose to become a successful property investor while managing three companies simultaneously. Keep listening to discover the story behind Keast’s property journey, the struggles in his day to day life and his current direction with his investment career.

Keast has been running three businesses for three years, all of which are in different industries.

Kristoffer Keast:
We own a small cleaning business doing carpet cleaning. We also run a pest control business and a specialized painting business. So we’ve got three businesses that we try to run in my life and basically that’s my background on employment and I’ve been in business now for approximately three years and started with the bare essentials and built our business into what it is today with a number of vehicles and staff working for us.

Tyrone Shum:
After injuring his back, Keast retired from his day job and stumbled upon clinical forensic cleaning which he turned into his new career.

Kristoffer Keast:
It was sort of by accident. I actually started, I injured myself and I wasn’t able to carry out my normal role at work and because I basically had nothing else to do.

I had to apply for another position and I got back into cleaning because that’s what I had done about 15 years ago and basically just started doing that after hours when I wasn’t at work during my normal job and it just grew from there and here we are today.

So I started with just general cleaning and my background originally also was a retired firefighter for New South Wales and so it gave me the experience and understanding of dealing with different scenarios and that also led me to cleaning again and to specialize clinic forensic in Queensland and stuff like that. It was sort of accidental and it just took off and I found that I was really good at it and yeah basically that’s how that unfolded.

Tyrone Shum:
Forensic cleaning requires in-depth specialisation which Keast has perfected.

Kristoffer Keast:
We specialize in drug paraphernalia, deceased estates, attempted suicides and things like that so someone’s got to go in and pick up any sharps or clean up any bodily fluids or blood or drug paraphernalia. We specialize in that and we’ve done many training courses on that to sort of you know always do our best at what we do.

And the documentation and the chemicals and you know the safety side of it is quite extensive and it’s really different and we enjoy the job and meeting different people under different circumstances. Something that I enjoy doing.

Tyrone Shum:
Like most successful CEOs, Keast starts his days bright and early in the morning, managing his property portfolio and his three businesses.

Kristoffer Keast:
I’m a bit of an early one. I tend to work better first thing in the morning than at night time. I normally kick off with the sort of 4:35 in the morning get down to my office around 6:00 a.m. and from there I do all my admin side of things and scheduling and then I like to try to get sort of half an hour to an hour just to spend researching property you know or just just listening to webinars or anything like that I guess can help me with my property journey and then yeah just my normal day sort of starts at 6, doesn’t finish until it finishes so it could be five six o’clock at night you know prior to the last sort of six months it was nothing to me to do 12 hour days. I like to work and I’ve got a goal in mind and that’s what drives me to get up and do that day in day out.

Tyrone Shum:
Understandably, Keast’s life is extremely chaotic with all his responsibilities. He utilitises a bunch of scheduling tools to help him keep his life in check.

Kristoffer Keast:
I do my best, I carry diaries I put notes in phones. Those that know me know that I do forget a lot because I do have a lot on my plate. We try our best and we run manage scheduling apps where I can actually put all my information in there. I’ve got a great team behind me and they basically remind me of things that I may have overlooked. And my wife, she also writes me notes day in day out. It’s nothing for me to always ask her what time was that, she’d go out or do something for dancing so it is very hectic. But as I said I’ve got a goal in mind and I’m willing to just keep pushing through and build my business and build my property portfolio to give me the outcome that I want in the future years.

Tyrone Shum:
Keast grew up in Orange and moved to Sydney in 1997 to pursue more career opportunities.

Kristoffer Keast:
I was born and bred in Orange in New South Wales. I grew up in a housing mission home with my mother and my stepfather and basically went to the public school system and then sort of from there I guess schooling wasn’t my forte. I met my wife when I was 15 actually and we met then and I basically, I enjoyed school but I didn’t enjoy actual classroom side of things so in Year 10 I wasn’t doing well and after many meetings I was told that maybe Year 11 and 12 is not for me.

So I left school and me and my wife decided that in 1996 or 1997 we were going to move to Sydney to basically start a new life and meet new friends and start saving for our first home. And then in year 2000 we moved back to Orange to pursue purchasing our first home which we did in 2001 and basically yeah that’s about it. So I basically got into property after getting in to a working life down in Sydney.

Tyrone Shum:
By fate, he met a wealthy property investor while he was working in Sydney and this encounter inspired his own career in property investment.

Kristoffer Keast:
When we moved down there and in our little thousand dollar car and I had no job and a large phone bill but I should never have got a phone back in those days, it was when you pay a dollar for a phone and signed up for two year contract and had a large phone bill and basically no job and I got into landscaping down there and that’s where I met.

I guess the first person I ever seen become very wealthy off property. We were landscaping a job down there and back in 1996 and 1997, spending million dollars on landscaping alone is a substantial amount of money while this gentleman said he was there every single day and we worked day in day out a whole year and I got to know him his wife and I actually sat down at lunchtime one day and asked him what he done for a living and properties what he told me he’d done and that was something that triggered something in my mind and I knew that if he could do it, why can’t I do it. And that’s what I set out to do basically.

Tyrone Shum:
So tell me this million dollar scheme they’re doing it for his own home or was it for one of his income properties.

Kristoffer Keast:
It was his own home, it was in Dural in Sydney. It had private tennis court, swimming pool, you know maids quarters, it was unbelievable his property. We started there everyday at seven o’clock in the morning and finished every afternoon at around 4, 5 o’clock.

Tyrone Shum:
Keast worked extremely hard in Sydney to save enough money for his first home.

Kristoffer Keast:
I’d done that Monday to Friday and then I worked casual as a security guard in the city or out in Seven Hills so that’s you know we saved all our money while we moved down there and when we tell people we moved to Sydney to save money they sort of have a little deal. But that’s what me and my wife done, moved down there and basically just really hooked in with our working career and saved to help us get our first deposit for our home.

Tyrone Shum:
However, while working with the wealthy property investor, Keast did learn a thing or two about property investment from listening to his stories and how he could kick-start his journey into the industry as well.

Kristoffer Keast:
I remember saying “If you don’t mind me asking, can I ask what you do because you always seem to be at home?”. And he was telling me how when he was a young kid that he had a family member passed away and he was left a house and he said so I rented that out and then he said he was able to use the income from that to help purchase another house.
And he said “and then I just kept buying more and more property”.

He didn’t tell me what his portfolio was at the time and look I probably wouldn’t remember anyway but I remember just sitting down listening to him and looking around at what he had and I thought well even though I was the one building this house and saving for a home, and look my parents work, there is more out there. You know you can achieve these goals and that was something that I remember going home excited and thought it seemed too easy. What he was telling me seemed too easy.

Buy a property and rent it out, use that income to buy other property and sell and so on. And like he said they don’t go buy one property worth a substantial amount of money. Go buy two properties was half the value and leave one vacant. You’ve got the other so so something like to hold on to. And that’s basically how I started my portfolio would go by two probably worth 500000 600000. I went to purchased to lowerend properties and one was my first purchase. Then after about 12 months I purchased another one and that set up our property journey.

So yeah I didn’t get too in depth because I was only a young fella and I was only about 19 or 20 at a time or actually probably less than that, around 17 at the time, I couldn’t get my P plates in time. But yeah, I didn’t go too deep, it was just listening to his stories.

Tyrone Shum:
Coming up after the break, we delve into Keast’s property journey where he shares the story behind his first investment property…

Kristoffer Keast:
So that was my first property and at the time there was no skill, it was just basically I offered below auction price at the top because I knew no one had turned up and I use that to my advantage.

Tyrone Shum:
The problems he’s run into while cross collateralizing…

Kristoffer Keast:
The banks wouldn’t release our deeds for our house and even though we owned our house outright, they still wouldn’t release the deeds because this house was secure.

Tyrone Shum:
Why he believes high rental yields are so important when it comes to investing in property.

Kristoffer Keast:
We need to start looking at positive geared properties we have good rental yield because we’re not high income earners.

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

Keast came across his first investment property with a lucky coincidence, where he was able to purchase a decent house for a more than decent deal.

Kristoffer Keast:
My first property, we always wanted to do it and it was funny how it turned out because I went and picked my mother up for morning tea and the area she was living in was getting worse and worse and was getting more run down and she couldn’t go out and it was more, such a violent area.

And we picked her up and I was driving up along that sort of town and I saw a sign up on the corner which is sort of you had the bad end of the street towards the other side… so the sign said it was a open home. So I said to my mum let’s pop down have a look. When we turned up to this property, it was a little duplex three bedroom two bathroom, a garage and their own little workshop off the side and the lawns would have been two foot tall. It was, it needed painting. No one had turned up for the open home, it was only us there and I basically made an offer on the property at the time then and I said to my mum is this somewhere you’d live and she went “yep”. So I put the offer in on the property and it was accepted within a couple hours and away we went.

Tyrone Shum:
Keast’s mother is still the tenant in the property to this day.

Kristoffer Keast:
So that was my first property and at the time there was no skill, it was just basically I offered below auction price at the top because I knew no one had turned up and I use that to my advantage. I said we need to paint it you know and look after the garden and renovate a few things in the home and there was no actual strategy, looking at property rental yields or anything that. I just thought oh well you know it’d be good, have a good tenant in there because it’d be my mum and it’d be long term. You know she’s still in that property to this day.

And that was our first property so that’s how that one came about and that was our first investment property so it was there to set up and get that one going.

Tyrone Shum:
In another lucky coincidence, Keast bought his second investment property opposite this home as well.

Kristoffer Keast:
This one was based in Orange and it was sort of in the lower end of town so where there’s there’s a lot of housing commission homes. But in saying that this was in a new subdivision that they tried building that a lot of private homes were bought there.

And it was right up the top of the street which now there is a lot of commercial buildings, a local Harvey Norman, a super cheap auto and all that that’s been built in the time. And basically I bought my second investment property opposite that house in the same street.

Tyrone Shum:
Since then, Keast has bought many other investment properties and has even settled in his own home.

Kristoffer Keast:
Originally our property goal was basically to have a couple of investment properties as per what I was told in the day and from books that I read you know, you buy a couple and you hang on to them and then you sell half of them down to pay out your debt. So our original goal was to own my own home by the age of 40 and have a couple investment properties and then by the age of 50 sell half down. However that’s changed because we we were able to pay off all our principal place of residence by the age of 38 and in saying that we’d bought and built around six homes since 2001 until current and we started off small, our first home that was around 16 square metres and we paid think it was about 59000 for the block land and 108 for the house and we sold that property in 2004 for 370000 so that goes to our budget and we thought we can keep going keep building and new homes we should be able to own our own home by our first home or fourth home. But unfortunately as you get older and you keep achieving new things your taste gets more expensive the homes kept getting bigger and we’re in our final home now.

Tyrone Shum:
While he knows that many investors advise against owning your own house, Keast believes it is a must due to his own personal circumstances.

Kristoffer Keast:
This is a sixth time that we’ve built and we’re managed to pay that off. So we owe no money on that at all. And look it’s a different, everyone has different ways of investing and a lot of people say you’re mad, you shouldn’t pay off your own home. But as I said our original goal was to own our own home and be debt free due to my my injury on my back. You know if I ever had to quit work at least we had a roof over our head and didn’t have to worry about a mortgage. So this way we get to survive comfortably and still have a good life.

Tyrone Shum:
Excellent excellent. So over that period of time you purchased and continue to hold onto these properties if you made up to now six properties as you mentioned and also I guess over that time have you constantly been purchasing in the same area of Orange. Did you start to diversify into different parts of Australia or stay in Sydney.

Kristoffer Keast:
We’ve done what you shouldn’t do so they say you shouldn’t put all your eggs in the same basket. Our principal place of residence we bought and sold bought and sold and we lived in there.

However just recently, we sold the property that I was talking about that was opposite the one that my mum was in. And we use that just to pay out the last little bit of our home loan. So we purchased that property in Orange, it was a bank repossession. We were sitting on the front porch and they put the notice up on the front door saying stating that the property had been repossessed by the bank and I was straight onto that and rang up and basically same scenario put in an offer on that, got them to agree to that offer within the hour and we purchased our second investment property and probably there I think we paid around must have been a hundred and ninety thousand for it at the time and we sold that this year for three hundred and five thousand dollars.

Tyrone Shum:
Realising how his profits can help fund more of his property investment journey, Keast now focuses on properties with high rental yields.

Kristoffer Keast:
We used the profit from that to pay off our own home. And then since then that sort of gave us the push then to hey let’s really start researching this and I had a bit of time on my sleeve and started chatting to people of different scenarios and then we came up with, we need to start looking at positive geared properties we have good rental yield because we’re not high income earners. My wife is a casual at work. I’ve had a full time job but that’s never been high income jobs. So we had to change our strategy and go for high rental yields so I found another property in Orange that we were able to purchase recently. We paid about 370000. We’ve just had a bank valuation done on that one. It came out around 460. Now we haven’t even owned that one for 12 months and we only spent was under 20000 dollars on a renovation on that one. This same week we settled on that one, I was able to and I didn’t even view these properties. I am buying a block of units three units here in Orange as well that required some renovation work on it. So I actually had my wife, mother-in-law because she was in Orange to go to the homes and basically go through. Facetime on Facebook and walk through the property.

Tyrone Shum:
After focusing on properties with high rental yields, Keast has found much success in the industry.

Kristoffer Keast:
We purchased that property and just recently renovated those. And like that property there I was renting for a 610 and they’re currently renting out all three of those and they’re bringing in 730 dollars per week rental income on those. So it went up great in an effective yield so I think we’re sitting around some 7.2% yield. A house that we got recently as well it’s sitting at 6 percent and my duplex is sitting around 8.2 and we’ve just purchased another property which we’ve exchanged on today actually.

And it was a similar thing, I just happened to be at the property doing a quote for carpet cleaning and stain removal and got speaking to the tenant and she said to me she’s moving out because I need to go a heap of renovation work on the property. And then I was able to speak through the real estate and make an offer on that property so we have just recently purchased property and exchanged on that today.

Tyrone Shum:
Fortunately, Keast has had no problems while limiting his property portfolio to his own hometown.

Kristoffer Keast:
We’re after properties that are above 6 percent rental yield. But we do need to start looking outside of that range and I do understand that entirely however if something pops up that I can make money on and increase you know capital growth by carrying out more renovations in it and also increase rental yield by doing that, you know I think it’s worth taking the risk in having all my property in my hometown.

Tyrone Shum:
As for his worst investing moment, at one point, Keast had crossed collateralized his properties.

Kristoffer Keast:
I think we’ve been pretty lucky. To be honest, the only problem I’ve had is because we were so new to it and we listened to the wrong people at times and all our properties ended up doing cost on our time at home.

So we ran into a few problems with that when we went to sell one property off. So then we had to tie up costing our loans. So that was a bit of an eye opener to realize hey we shouldn’t have crossed these lines. We should have had them all stand alone. So we’re just in the process now and to uncross those. If I had my time again I would never do it but it did allow us to get into the property at a young age with minimal income. So there is regrets but there no regrets as well if that makes sense. I wouldn’t do it again.

Tyrone Shum:
He realised the extent of the problem when he tried to sell a property.

Kristoffer Keast:
We were financing the full amount and at the time we didn’t realize it like we thought oh this is easy we get straight into these, we make deposits. We didn’t realise that what the outcome would be in the future. Until we did sell a property or we went to sell our timely high and that was something that I’ve learnt from and we’re just working towards now just uncrossing everything because I think we have a LVR or 54 percent now so we’re looking at just uncrossing everything and then that should speed up our process of buying in the future.

Tyrone Shum:
Keast believes he made this mistake because he did not have enough of a thorough understanding on putting deposits down and property investment in general.

Kristoffer Keast:
We sold one of the properties for 305 thousand in the past six months and when we went to sell that property we didn’t realize it was cross collateralized. And then the banks wouldn’t release our deeds for our house and even though we owned our house outright, they still wouldn’t release the deeds because this house was secure. So realistically even though there was no limit on our primary residence because these properties were cross collateralized with them basically there is a mortgage on them. And I was told by the bank for example if we were to sell our own home for financial reasons or anything like that, the banks could actually force you to pay down some of your debt on your investment properties so you did lose all that hard work the money that we put in to try to pay off our mortgage. So it slowed things down that way.

And also just not having an understanding of trying to put deposits into these homes and you know been new to investing and not really understanding, has slowed down our growth moving forward and buying more properties. So I’ve got to speak with a mortgage broker who’s basically helped us analyze our property and what we need to do to move forward and that’s part of it, we’ll uncross it and then use equity in our investment properties to help fund any future deposits and mortgage strips saving as well to help fund those future deposit.

Tyrone Shum:
That makes sense. I mean like it’s a great way to do it that helps your leverage so therefore you can purchase more properties and so as well if you need to.

Kristoffer Keast
Because we cross collateralized, it affects your sensibility as well and your equity as well. So yeah it was just one of those things that we never quite understood and I spent the last 12 months learning all these new stuff and getting to understand it so I knew I had to think outside the square and get some help to get us through.

Tyrone Shum:
And were there many costs involved in, to separate these properties?

Kristoffer Keast:
At the moment, there’s only been the valuation fees when the other one they would release our deeds which meant we couldn’t settle in time on the property we were meant to sell. We were expecting bill however the investor that bought the property was happy to basically agreed to put a tenant into the property prior to settlement and they sat and just waited.

So we never got absolutely financially punished for being late on settlement on that property. So we were lucky that way. So at this stage there hasn’t been a huge cost but as we move forward and probably refinance these properties and uncross ties, there will be fees along the way.

Tyrone Shum:
Keast has since then continued to keep his investment properties separated and as an a-ha moment, has realised how profitable properties in slow growth areas and with high rental yields are.

Kristoffer Keast:
I think it would be about six months ago when I first really started sitting down and working out my portfolio on what my new goals were since we’d paid off our mortgage and it was like what do we do now. I was lost because we’d achieved that goal. So we set new goals and when I worked out my rental yields and what I wanted to work towards in the future, I think that was my a-ha moment, to realise this is possible. We can get these rental yields by small renovations or you know buying homes in a street that are slightly run down and getting better rental yields and working towards that and starting to look at other areas and other towns in the south. And I think it just sort of quick to make sense. Even though there’s people saying it’s not possible to do it, we’ve managed to do it on the last three properties. I think that’s my a-ha moment, just realising how much money is made by high rental yields and not buying mine towns but buying in towns that you know have a slow growth but also high rental yields so you get the best of both worlds, to work towards our financial freedom.

PART 2

Kristoffer Keast:
I’m sort of always out trying to work out I guess plotting to take over the world. Work out how I can be a better person and better myself and I compete with noone but myself.

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

I’m Tyrone Shum and in this episode we continue our conversation with Kristoffer Keast, property investor and cleaning business owner who has built all of his success from scratch as a high school drop out. Listen to find out how he protects himself from any mishaps on his property journey, more about his mentors and the advice he’d like to share with listeners.

Keast’s view on his property journey has always revolved around his seven year plan.

Kristoffer Keast:
Our strategy basically we’re looking at hopefully a seven year plan. So our strategy is we’ve bought enough investment properties this year and then for the next two years we’ll look at buying one or two investment properties over the next few years and then after that we’ll purchase another two investment properties by sort of like 2022 and then by about 2023 we’d look at buying another two or three and then that should start leading towards our goal of basically being financial freedom by the next seven years and then that would give us a passive income of about 80 thousand dollars without you know having to rely on any other income coming in.

And that means that you know due to my back injury, if for some reason I do need to you know change the way I work in the do things, we’ve got a passive income coming in there to feed our lives basically.

Tyrone Shum:
He continues to build his property portfolio for the sake of his future with his family and financial freedom.

Kristoffer Keast:
I was brought up in a small town you know we had a good life while stuff like that but I’ve got to see what it is you really could have if you really put your mind to something and my I guess my best habits in life is to do it. I make sure I do it 110% fast and hard. And I’m just wanting to set up a good life for me and my wife and kids. The life I would have thought I could have as kids and to be able to enjoy life. I think I was gone do it and I’ve got piles of them on our own property. No we have to move forward and have income coming on time it’s going to give us a better was so low as to have time to knock going out at this time because of all of the sudden it was away on holiday with them and see the world and just enjoy life rather than working till I’m 60, 65 and maybe not being able to go travel and go overseas, we can sort of do it now and get it over with. And we’re part way there.

So that’s why, just to get their financial freedom before I get too old and my life is to live and really enjoy life and spend time with the kids.

Tyrone Shum:
While Keast’s property journey is now going well, he did encounter some setbacks when he first started due to his closest peers.

Kristoffer Keast:
My wife, we compliment each other. So she’s used to say, she doesn’t like to spend money she’s a saver and she’s always you should pay off your own home first and friends and family, they just they sort of talk you out of it. So it’s one of those things. So it made me bought a little bit but as I said that gentleman I spoke to was such an inspiration that as soon as I saw the sign like open home also on the corner, I blocked out everything that was going on and just went I’m going to buy that one and move forward from there. And then I guess once I met what my wife wanted and all she wanted was to have a house paid off. It’s just going full steam ahead for me you know purchasing three units and a house in an undersea market. And she hasn’t batted an eyelid because she knows if anything ever happens, we have a house so I guess the things that held us back are friends and family just with them not understanding totally what how property investment works. And they see oh this is big expense and it is like property it’s going to cost you thousands to keep that you’ve got rates and you’ve got insurance and those little things do put a little bit of doubt in your mind. So I’m a numbers man and I sit down and I write every out and work everything out and deal with it. So it slowed our journey down slightly I believe but here we are today.

Tyrone Shum:
Keast has also had many great mentors who have helped him with great advice.

Kristoffer Keast:
I met a really close friend that we actually moved down and lived with in Sydney when I first moved down there.

So they gave me an understanding of you know paying down loans and debt and not buying things that we shouldn’t buy in life and I’ve spent a lot of time with you know all the years. Because my step father passed away and I did also have a good relationship with him. He’s also the person that I go to ask about loans and stuff like that. So he’s been a great inspiration to bounce ideas of him and he really pointed out things that have helped me along the way. And then my father in law was also a cooking business so I see what he was doing in life and what he was able to achieve but he did it in a different way to how we did it. They had negatively geared properties and they worked really really hard and take him down to financial freedom as the time they were sort of in their 60s that we’re going to do is we want to get out of that idea that by closing high rental units that creates positive cash flow then hopefully will set fire to our financial failure by purchasing another six to seven properties in the future.

Tyrone Shum:
As for the best advice he’s ever received, it was simply to invest in property.

Kristoffer Keast:
Lately just speaking to people and just understanding how equity works and rental yield how that can give you financial freedom. So I’m really concentrating on that and knowing more about that at the moment in the revenue side and equity. And the best scenario is to use it. Our portfolio may struggle a little bit and slow down and then it dries out because we don’t want to pull any finance out or refinance our primary residence. So you know there’s a lot of equity in that property that we could do that but we don’t want to do that because we want to keep that property settled and stand alone by itself with no do over.

Tyrone Shum:
So basically now that your family has been paid off you just keep that one separate you don’t touch it and then you basically touch your investment properties to redraw that those funds out to reinvest. Is that what you’re saying.

Kristoffer Keast:
So on our investment properties we’ll put the equity out of those if you know when we can to use towards new investment properties but our primary residence. No we’re not going to touch that. And you know for example our primary residence is a 44 square metre home to a little home on a two and a half thousand square metre block. Yeah so it shows how much equity is actually in that property that we could pull out and basically purchase many more properties but we don’t want to go down that path that’s the only thing that my wife has asked me not to do. So as far as I’m concerned I’ve got a really good friendship and relationship with my wife and we complement each other. So I respect her for that and I’ll keep powering on with my investment portfolio and she respects me and understands that you know she can trust me with the decisions I make so I can purchase a home now and ring her up afterwards and go look I’ve just bought a property and that’s where x y z.

I think we should buy and you know it’s a done deal there’s no oh you shouldn’t it you should do that because you trust me say with such cast and vone doing that but that’s only incidental up on no you can’t finance that. That’s the bottom line, there’s no way. And I don’t think we need to do that.

I’d like to prove there’s so many different scenarios and different ways you can address in property that I would like to do it this way just to sort of prove some people wrong or prove to myself that it can be done this way.

Tyrone Shum:
Coming up after the break, Keast shares with us his favourite property investment book…

Kristoffer Keast:
So I actually use audible because I’m on the road lot with the work.

So I listen to a lot of books and I listen to them over and over again. But I think that’s probably the best book I’ve ever read.

Tyrone Shum:
The most contributing habit to his success…

Kristoffer Keast:
But whenever I hit a goal I set a new goal and I keep working towards that. I just worry that I get.. board a gate. I’m determined to become what I am and achieve what I have today.

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

Keast believes that owning his home and keeping it separate from his property portfolio protects him from any mishaps with his property investments.

Kristoffer Keast:
How often do you hear people who invested in mine towns and places like that that have lost everything and they’ve been renting they’re seeing and you know they were really good set up with great rental yields and earning incomes in those mine towns and stuff like that where it sort of falls over. And then doing all these steps and they quite often turned on on news and all that sort of stuff and you know there’s so many different scenarios that work for different people. So I think this will work for us. And let’s see what the next five or seven years bring.

Tyrone Shum:
As for books, Keast highly recommends the classic Rich Dad Poor Dad.

Kristoffer Keast:
I think everyone’s read the book Rich Dad Poor Dad. That was a really really good book. I did listen to barefoot investor but it didn’t help us in any way because we had already achieved everything that he was saying. So to ask that book didn’t help much. The first book I ever read was “How to be the Next Property Millionaire” and that sort of touched base on you know don’t buy similar scenario to what the gentleman in Sydney told me don’t buy one property worth you know 600000 go by two or three hundred thousand and and that. So that was a really good book and then you know thinking big and stuff like that. So I actually use audible because I’m on the road lot with the work.

So I listen to a lot of books and I listen to them over and over again. But I think it’s that that’s probably the best book I’ve ever read that I know of listening to your podcast. A lot of your listeners also have read that too.

I think it also gives you that motivation and the drive to push forward because you do listen to it and you hear it and geez, it does sound simple you know.

Tyrone Shum:
Keast’s most contributing habit to his success has been his overwhelming drive to achieve.

Kristoffer Keast:
I like the board a gate. I hate not knowing and I don’t do things in half. So. If someone tells me that something’s going to happen and I hold them to that and it has to happen then and I’m a bit like that with life. So if there’s something I want to buy or if there’s something I want to do I don’t hold back. I just go do it straight away and I guess I fixate too much on it and it’s a good thing and it’s a bad thing because at times it can upset a few people because I’m so impatient.

However I think it has helped us now in our everyday life, property journey. You know everything we do in business you know not waiting, pushing forward while others are sleeping on our still working or trying to work out how to grow the business or trying to work out how to get more properties or achieve great things in life than what what I can do in life to achieve those things. You know we don’t sit down and watch football on weekends, I’m sort of always out trying to work out I guess plotting to take over the world. Work out how I can be a better person and better myself and I compete with no one but myself. And I am very hard on myself and I don’t know why that is because I think we’ve achieved a lot in our life. But whenever I hit a goal I set a new goal and I keep working towards that. I just worry that I get.. board a gate. I’m determined to become what I am and achieve what I have today.

Tyrone Shum:
Well I wanted to find out if you met yourself 10 years ago. What do you think you would have said to him?

Kristoffer Keast:
Look realistically ten years ago, if I could meet myself 10 years ago I would say to myself that everything is going to be okay.

And I don’t think I would change anything. To be honest I think what we’ve achieved is pretty good for our age and the things that we’ve owned and purchased along the way. I think just 10 years ago because I’ve always dreamed, put a lot of pressure on myself and stuff like that. Would just be in 10 years time things are going to look up. So I’ve got no regrets of going into the downturn the last 10 years and it wouldn’t be right don’t buy more poverty or anything like that because as I said, we set a goal to do all this by the time I was 40 and I’ve done it all by the time i was 38. So yeah no, I’m pretty happy with that.

Tyrone Shum:
As for his future, Keast is simply excited to meet and work with more property investors.

Kristoffer Keast:
people I’m meeting of recent and just may be one step closer every year to hopefully making that seven year goal. That’s exciting. Who else am I going to meet along this journey, it’s going to be an inspiration to us and the things that we’re going to be able to achieve. So yeah that’s really it to be honest.

Tyrone Shum:
And last question I have for you. How much of your success you think is of your skill and intelligence and hard work and how much of it is because of luck.

Kristoffer Keast:
To be honest as I said I was I was told in year 10 that basically I should leave school and these are two words that I was told by teacher that I was going to amount to nothing. So it was something that drove me and it drove me to achieve something.

So look luck. No I think it’s hard work. No it’s not luck, like it’s been hard work and an I’m not afraid to ask people I’m not afraid to say to someone I know how did you. I’ve never being jealous of anyone. I always looked at them and thought you know what you’re a better person than me you’ve got better stuff with me. How did you achieve this. I’m happy to ask them questions or to look up to them and go hey they’ve done this and then moves towards that.

So here is it in a nutshell. It’s not luck it’s hard work and just looking at the properties. It’s probably luck that I drove past the For Sale sign to Open House. That’s about it.

Tyrone Shum:
For those interested in contacting Keast, you can reach him through his companies, Facebook, or simply through phone.

Kristoffer Keast:
They can get me on Facebook. Kristoffer Keast. Or I’m happy for them to give me a call on my mobile on 0411311570. Or a little shout out to my business, Magical Clean or Colour Restoration. They’re also on Facebook so you can find us on there.

Tyrone Shum:
Thank you to Kristoffer Keast, 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.

Also, if you haven’t subscribed to receive your free property case studies that I only send out exclusively via email. You can text me your email address to 0499 88 10 40 to subscribe. These real case studies are from experienced property investors where they share specific numbers of their portfolio, the strategies and much more. Simply text me your email address to 0499 88 10 40 to get your free case studies. As always, thanks for listening!

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