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🎧 Real deals, real strategies, real results. Learn how to find, fund, and operate profitable property plays from someone who’s actually done it.
Hosted by Andrew Wright, principal of Professionals Southport and a commercial investor who rebuilt after losing a ~$15M portfolio during the GFC, this podcast gives you a straight-talking look at what it really takes to build wealth through property.
Each episode delivers practical frameworks, real deal breakdowns, and honest conversations with high-performing investors and operators across residential and commercial.
But it’s bigger than the episodes. The goal is to build a community of like-minded investors who share stories, swap insights, help each other grow and maybe even do deals together.
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Hi, I'm Andrew Wright, principal of Professional Southport, and this is the Andrew Wright Property Podcast. I've built a multi-million dollar property portfolio delivering a seven figure annual rental income, and led my real estate team through thousands of sale and lease transactions in each episode. I share real deals and strategies that will help you find, fund and operate profitable property deals.
The aim of this show is to provide education and build a community of like-minded investors who can collaborate, share insights, and help each other in each other's journeys. You can make excuses or you can make money, but you can't do both. So come and join us.
Good day there and welcome back to the Andrew Wright Property podcast today. I'm, uh, thrilled to go into part two with, uh, a good friend of mine, Peter Puljich. In episode part one, which we went through his private company Living Gems, we went through that business, how it was built up and eventually sold with 13 established.
Retirement Village is selling for $495 million to Stockland and Avid Property Group. Today we're talking at about a company of even Grander Scale, a company that floated on the Australian Stock Exchange. Last year in 2025, it was the biggest listing in Australia on the Australian stock market. When did you start, uh, gem Life?
Peter?
I think we about, um, 10, 11 years ago. 10 years ago. 10, 11 years ago.
And how did it start?
Uh, well, Russell Ellison, the producer agent in Brisbane called us and he said, we've got something. Some people wanna talk to you. Yeah. So he got us, got us, uh, uh, Vlad, Adrian and myself into his office in Brisbane.
Yep.
And they got tackle with the Australian partners. One of them is a, uh, Greg pc. I think you could probably met Greg pc.
Mm-hmm.
Ian Sunshine, sunshine Beach. He was, he was their partner with them.
Yep.
So we talked and they expressed the view that desire to do something together. Greg was ex uh, uh, bank banker.
Yep. And other two partner, the city. They, they're, uh, bankers too, tackle families that they're good, good, good, solid, uh, family people. And they are known Australia and right to the Asia, and it was honor and happy, happy to do business with them. So we decided to get together, we paid the fee to the agent in Brisbane for marrying us.
Mm-hmm.
And we got, our first project was, uh, at, um, what's the name? The, the Lakes Bribe Island.
Oh yeah. Bribe Island.
404 homes in there. And
what, what year did this all start, Peter?
Uh, I think we started, we, we bought the land we developed probably, uh, six, seven years ago.
Okay. Okay. Reasonably recent. Okay.
Yes. So this joint venture, um, it's with a Singaporean company named Thal.
Yes.
Um, tell us about the philosophy behind Living Gems is just your family, but gem life. You've done this in a joint venture. Tell us, um, how important was having a capital partner like Thal? To provide the extra capital for you to scale up the business?
Well, it's very important. Like, uh, as you know, uh, they reckon every country and every bank and every business owes money. If you don't borrow money, you can't grow.
Yeah.
So you need to know when to borrow, how much to borrow. And these people are experts.
Yep.
These people do business through the Asia, the Australian partners.
Mm-hmm.
Uh, three of them are here with another partner. Four. And he passed away, unfortunately. Uh, he was a, he was a, uh, Indian. Singaporean, uh, it's very important to because they know when to get where to get the money.
Mm-hmm.
They know how to get the money and they get you what's needed and they're already established client.
It's very important. Okay. It's like, like a driving a car in a bush. You need a petrol station to fuel up.
Okay. Peter, you, uh, a fairly, um, independent sort of fellow, like how does it, how did the, uh, transition happen where you sort of had a business partner that could have con. Maybe have some influence or control your decision making.
Did that, were there ever any problems there with them trying to control you? Was there money that you were investing?
Look, the, the, it was agreed that we will be in, in control decision making because we, we, we know how was with us,
yeah.
Finance was with them.
Okay.
So Dave was agreed. We, we will control 50.001%.
Just enough to give you if it come to, but he never came to it. Okay? Never came to it. A good business partners, if you, if you genuinely want to make money, you listen to, uh, listen to your partner. And then we listen to you, and then whoever has got a better idea, we go, we, we never, we have never come to the style mite, never gone, uh, to a meeting where something was questioned.
Instance, try the way, uh, you propose. Usually Adrian is my son. Usually, uh, they back him up all the way. Trust him because I've told them that my, my, my people. Not $1 would change hands under the table. We are gonna be transparent. We're gonna go there. You provide the money. We'll, we'll build.
Mm.
And they, and they, uh, they've got their son in the office now.
He's a CEO and, and he's a accountant finish in, uh, Cambridge in England. He is a, he's a specialist. He's a guru. He's everything. But it's good like we family with friends. Not only we part of their family and friends.
It's a great story in itself. Without the money, just the number of joint venture businesses that don't work out.
So I'm, I'm thrilled that it's worked well. And you've never had a fight with them?
Not one. Disagreement.
Yeah. That's amazing.
Not one disagreement bec not one disagreement because we are there to make money.
Mm-hmm.
And this Indian family and Australian partners, they're all professional people.
Yeah.
They understand a partnership.
They understand the, uh, uh, arguing, not gonna make us money.
Mm-hmm.
A good decision.
Mm-hmm.
They'll, they'll propose something.
Mm.
And we listen and say, yes, it's good. Let's do it your way. Let's do it. Okay.
Your son Adrian. He's, uh, 37 I believe at the moment. He's the CEO, is that Rod?
Yes, he is the CEO. Yes, he's there.
And, uh, he's a very impressive, uh, young man. He's, um, I've only had met him once over lunch, but he's just intelligent, super intelligent, super. Educated and has a very good way with words. You must be very proud
of him. I'm very proud of him, yes. Mm-hmm. We are very proud of him. But the, the main thing is Adrian is prepared to listen.
Mm.
He's prepared to listen.
Mm-hmm.
He's prepared to listen. He's, he, he'll, he'll explain his way of thinking to you and he'll convince you.
Mm-hmm.
And if you wanna change a bit, he's not stubborn. Say no, he's, he's, he's prepared to listen.
Mm-hmm.
And the best decision. We'd always win a day. Always. Yeah. And, and we were never, ever come to the got we say, look, if you got any better idea, if you haven't, let's do it this way.
If you go there, let's let listen, let's do it your way.
Mm-hmm.
And that is 'cause we are there to make money. We need to not there to outdo each other.
Yeah.
We don't count. Uh, a dollars here, dollars there. We know the money will come at the end and it did.
Mm-hmm. Okay. And. From, again, this is a Google search might not be a hundred percent accurate, but it, uh, gem Life, uh, has at the moment, apparently 32 separate communities in a pipeline of more than 10,000 home sites across Australia.
That's an incredible scale. Um, what, what do you, what do you have to say about that, Peter? Do those numbers sink in? Wow. What? This thing's become a massive business.
Well, to be quite honest, like if it happened to you or somebody else. Mm-hmm. I'd be surprised. And I say, my God isn't that nice? But because happened to me.
Like, you accept it. Mm-hmm. And, and, and then I still, I still drive the same car. Same. I still play chess every Wednesday morning. And you, and, and let people beat me and, and I beat some and they beat me. And you just think, don't think of that. Mm-hmm. The main thing is you are there to make money for the people, your investors.
Mm-hmm.
They have to trust in you.
Mm.
Uh, don't, don't, not pretending nothing. Uh, if there's a problem, you, you got to face it.
Mm-hmm.
And, and people must have trust in you. Mm-hmm. No one's gonna invest money if you don't have trust in people.
Mm-hmm. And you seem to have almost an equal, uh, passion for. The clients, the retirees who buy your homes, you wanna make sure that they're happy by providing all those facilities, you want them to be happy and spread the word.
Come and buy a gem Life home. You see the advertising before the news every night on tv. Like there's a real passion there. It's not just making money.
Look, you need to, we value our clients because. Our buyers, our clients are our business without them.
Mm.
And if a person buys, we treat you as an ambassador.
Mm.
You're gonna tell your mates, you're gonna tell your clubs. You go to uh, clubs, you go to footie, you're gonna say, look, buy it. We, we believe you'll never let you down. If, if we, if we build your house, as you know, uh, we employ people to build a house. If something's happened, we won't ask whose fault it is if we can't get the person that did.
Build your house. We, we are there. Yeah. We will go and fix it. 'cause we value you And I say like my parents. My parents are, some of 'em, these people are old and vulnerable.
Mm-hmm.
Some are sophisticated, young and fit, some are still working, but most of people are, are, are older. People and they don't want any, any hassle.
They don't want any argument. Mm-hmm. So you don't, argument doesn't mean if you need something fixed, we go fix it.
Mm-hmm.
And what else can, what else can be there? Nothing.
Yeah.
And nothing we fix it. Even say, uh, I, I'll saying that a subcontractor, I say, look, you signed, Mrs. Smith has to sign that this is done.
Unless she's signed, I'm won't let you go. Or if you don't wanna do it, I'll do it.
Mm-hmm.
So it's all done, finished. They, they, they, they love you for it. They go. Uh, uh, new clients walk in the village. We can't stop People tell them, they, they, they open their heart
mm-hmm.
And soul in front of them. So we gonna make sure these people trust us and love us.
Otherwise, we'll never sell a house.
Yeah. That's fantastic. And so, taking the company, uh, from a private company to a public company, it's been a fairly quick transition, less than seven years, but, um. From a trailer park on the Gold Coast to listing on the stock market, uh, the newspaper reported an initial father and son benefited $417 million payday, and that was before the share price actually took off after the first day.
So it ended up being a lot more than that, but you retain, uh, 26.7% with Adrian, a fairly big, um, percentage of a publicly listed company. So. Tell me, like, I remember playing chess with you after that listing. It was just another day for you, Peter, like you, you're obviously proud of that, but um, it didn't change your life.
You, it's just next. You keep moving on and you keep, um, you keep growing.
Look, uh, like I said, if there happens to somebody else, you pay attention. More happens to you. It's just, just, just a bit of money. Money that came in, which is nice. Money didn't, but, but we now, uh, on a different spotlight, we've got investing people all around the world Invest Fund and some substantial people
mm-hmm.
That have gone on recommendation from big bank that did underwriting
mm-hmm.
JP Morgan. And like we now got obligation to make sure that our investors are, are. Proud of us. They know, they tell their shareholders that we are already investing.
Mm-hmm.
We want more.
Mm-hmm.
Uh, this gives us time to like, expand, give us a, a, a ability and opportunity to expand without investing money.
Like you, you can't, can't move anything. Mm-hmm. The only constraint we have is a bit of a land shortage.
Mm-hmm.
I don't know how the continent. Or Australia, how can you ever land shortage on the continent? 27 million people. But anyway, that is what it is. But, uh, um, we, we haven't got enough tradesmen.
Mm-hmm.
I can't believe that we can't get enough tradesmen what we want.
Mm-hmm.
Our government, I don't wanna be critical of any government.
Yes. I,
I'm, I'm in the business. I don't criticize government. I don't criticize one party, but I just would like to ask, how come they can't provide us people that we need them?
Uh, our, our housing prices are escalating due to the bad governments.
Well, you, you have told me over a casual conversation that when you put out an advertisement to employ people, that those same same people that might be interested in your job are telling you that they're getting paid way too much by the government and they just go and take the government jobs.
Yeah, but the government's stealing people from us.
Yeah, that's right.
The government, Australian government. And this, this is, no, I'm not criticizing anybody, but the Australian government is stealing people from us, which we train. Paying them 50% more.
Mm-hmm.
And then they're saying, why are our housing expensive?
But they're expensive because you are, you are employing them. Mm-hmm. You're paying your mates too much money.
Mm-hmm.
And if you're gonna go, why did we crash our car industry? Our car industry is crashed because we paid our people too much and too lazy to build a car. Mm-hmm. So how come 27 million people, we can't produce a car.
Mm-hmm.
Sweden, it's got 10 million people that produce Python jets. They produce every construction material, every cars, and every, everything. They're 10 million. We got 20 some cars. We can't because we are, we are paying our friends, our mates, we're paying them big money. And then we are, we are now saying, why are we cost too much?
Because what we be paying too much money to people. Mm. To unproductive people.
Unproductive. Not, not the same work ethic that you would expect, Peter, when you, um. Decided to float the company. How did that idea, did a, an institution approach you and, and did you think, oh no, we don't want to have the additional compliance burden being a public company?
How did it all happen?
Andrew? You know, when you, when you're a single man, you go to nightclub and a, and a beautiful lady comes in, everyone's looking at her and there are people in business that look at people in business.
Mm-hmm.
And they can make money. On selling your business.
Yeah.
So these people, their job is to look at people like us.
Yeah.
And float us, help us to float, underwrite us. And they make money. And we make money. They show that's their job. Yeah. They know how to, like, we are not good enough to float our business by ourselves, but there are people in the world, in Australia, they can't do it for you. Mm-hmm. But like I said, if you're a beautiful woman, everyone's looking at you.
If you're good business, there's a bank there, a business. They can do it and they, they can see opportunity for themselves and you.
Mm-hmm.
And they tell their investors, you made money with me before.
Mm-hmm.
I can recommend you buy stock here in this company and you'll make money. So, so just consider yourself business.
Uh, best is like going to nightclub. Uh, you got a business and you've got a hungry. People wanna make money and you, you'd be surprised. How many people are circling around your business looking if they can make money. Mm-hmm. And they can go invest. And that is what, that's what happened to us. We, we couldn't have done without Yeah.
A, a big bank
look, there's such a small minute percentage of entrepreneurs in this country would've been involved in turning a private company to a public company. So just for the viewers listening, my understanding is that, uh, you and Adrian actually flew overseas to meet some of these funders and the people that.
Put all the, the compliance documentation together to list the company. Can you tell us about what happened there?
Well, look, a Adrian, a Adrian did most of his help and I was here and I said, oh, you go there like you, you like talking and make yourself a big, big gun. He goes, he said one, one fund from Canada, which I don't say he told us.
Uh, we said, we can only allow, you only allowed to invest 150 million. Mm. And the lady said, I know you, I'll do it for you. He said, but my minimum check would be 250 million. So we talk a big money, like, and, and he, and he said, but the please, I can't. By law, I dunno, have the corporate law, uh, you can only invest so much.
Mm.
And now 'cause
it was overseas, maybe?
No, no, no, because the, uh. It's a public company. You can't buy shares yourself, otherwise you own the company.
Yeah.
So you can, only one investor is only allowed to buy so much, I think. I think so. They are, they are criticizing us now that tackle and, and us, we, we hold too much or shares ourselves.
We should dilute our shares.
Mm.
Let other people come in. If it's a public company, public has to come in.
Mm-hmm.
And we would probably, uh, uh, buy more. We would probably buy more assets.
Mm.
And let other people come in and, you know, like if you've got good people coming in mm-hmm. If you've got good people, you got nothing.
But improving the bottom line, uh, if you know what to do. So by holding on, if you, you public, you should dive, invest some of the uh, uh, shares. Mm.
But
we don't wanna lose that grip, but we would like to probably expand the company and let other people come in.
Mm-hmm.
But like I said to you, there are money, plenty of money around.
And people are not gonna go and invest hundreds of millions of dollars because of Peter ic. Somebody there to recommend you.
Yeah. Peter, to most people, including myself. Um, you, uh, very, a wealthy man and it, it, it really surprised me. One morning I was having a chat to you, and this is a bit of a, a joke or a giggle now, but you said, oh yeah, Andrew, we, we are looking to list and, uh.
Wow, the big boys are interested in us now. So I look at you and I think, oh, you're a big boy. But even at your level, you, you are there saying, oh, the big boys with plenty of money are interested in us now. So you, you did go overseas at some stage to meet one of these, um, institutional banks and you were frisked down and went through security and they like, tell us.
Yeah, we went, we went to JP Morgan Bank in uh, uh, London.
Yeah,
we got double security. What you get in the airport?
Yeah.
I don't know why, but maybe there is a reason why. And then the, uh, they, you go there securities and you go there to lift, you don't press the button. Button's been pressed
Yeah.
For you and everything.
And people deliver you and everything. And, and then you, you wake up
mm-hmm.
And see how pe, how money is made
mm-hmm.
When you go with the good company mm-hmm. With the good people, that if you're good. If you're trusted, we've got, uh, a London audience through, uh, Sydney people, they've told us these people come in, receive them.
Without them, we couldn't get in. Like I said to you, you gotta go to, to double scanning. You leave your telephones and leave everything in. Yeah. Right. And so it's amazing how they, and they, then you talk to people that are commanding hundreds of millions and billions of dollars and they talk like you and I, but afterward they're only human beings.
Yeah. Yeah.
And it's a good business where they accumulate the money, but they, they, you can talk to them like you talk to me, they're normal people.
Yeah. Peter, getting onto, um, some other philosophies and, and things, um, recently, I understand you paid nearly $80 million in tax to the Australian tax office.
Is that just blows me away. How do you feel when you, your, your accountant, obviously. Lodges a return. They, Peter, here's your tax. Um, you've gotta cough up $80 million
because like I said, we, we are accumulating it in the business. And then taxmen the, the, the, the worst thing for businesses, uh, when you go media.
You stay away from media if you can.
Mm-hmm.
Taxmen reads media.
Mm-hmm.
And we are selling millions. We lost actually 5 million because of Taxmen, what they did to us.
Mm-hmm.
They put new laws and new this, new that, new this and do that. And they can see money changing hands and they want their things there.
Then they do this and, and big corporate business can't wait for taxman. Taxman moves very slow.
Mm-hmm.
They like, they will investigate you for five years.
Mm-hmm.
And if they don't make a decision, they just stay silent, which is not fair.
Mm-hmm.
If you ask, they say, must be guilty.
Mm-hmm.
But it's not fair.
Like we, we are, we, we, we, we are creating. But look, uh, my taxmen think this is. Thank you to Australian people, so you can't win. He said you were allowed to win for three days, so that three days a mourning is passed.
Yeah. But just, just for, you know, people who might have the gripes that, you know, can't afford to buy their first property, and, and some people, their level of thinking is such that, oh, he, you know, he's a rich guy or whatever.
But you've just gotta appreciate the contribution that hardworking, successful entrepreneurs do for the country. I mean. Peter and his family have employed hundreds and hundreds and hundreds of families built thousands of homes and the amount of tax that they've contributed to the public purse that hopefully goes into roads and infrastructure, uh, to improve, uh, our country.
It's just an incredible contribution. Talking about contributing. Peter, tell me about this church you built.
Well, we built, we contributed to church. Church. I think it's about 800, uh, thousand dollars. We, I think we, my family to, with our supplies and everyth we contributed, donated half of the money.
Mm-hmm.
We support Gold Coast Nights. Uh, we support Gold Coast Knights and it's a big, it's a, it's a big money drain, but we, like, we are putting back into community Gold.
Gold Coast Knights is the soccer
Yeah. Soccer Gold Coast Knights. It's a, it's a Croatian backed, but all administrators and players are all from everywhere.
We got like
mm-hmm.
Uh, the only few people are of Croatian Origin Blood, like Ian and Anthony. Were they, they are of Croatian blood, but they're Aussies. They're Australians.
Yeah.
So we go and back it. And we gotta do something. So we go back and we, we go, we love soccer.
Mm-hmm.
We love football.
Yeah.
And we, we do it and we church, uh, we donate and we got other, other things that I, um, sponsor and mm-hmm.
And, and everything, like I've been sponsoring Ethnic Business Awards in Sydney. And, um, you do big and. Look, life's too short. You gotta invest and pay back some money. Yeah. The community community's been really good. I got here uneducated. I got here, uh, for $10.
Mm-hmm.
I got here and, uh, I've been given full freedom.
I've got a same freedom, like a, like a Australian born and it's my thank you to, um, ability look. If you honestly asking me, am I happy to pay 80 million? I'm not, but I have to. Yes. And that's just, I have to, not because of goodness of my heart. I don't have to. And anyone that says I've paid because I love it.
No, because it's a law.
Okay. Let's move on to a bit of philosophy now before we finish the podcast. Um, you used to live in Paradise Waters, um, in Admiralty Drive or Commodore Drive, was it?
Uh, Commodore Drive.
And why? As, as people get old sometimes they like to travel and maybe move from a house to a, an apartment.
You did that, you sold up there and you moved into Surface Paradise. What prompted that change in lifestyle?
Well, my, uh, my wife, my late wife, she passed away 13 years ago, and, um, uh, she wanted to live in Penthouse in Surface.
Okay.
I didn't, I didn't, I, I thought the house is much better living in surface. I said, no, but she says, my, my older son said are dead.
Mum has been putting up at you being like, working seven days a week and not being home and do something. I said, okay, I will buy it. We bought a, we bought a pen house.
Mm-hmm.
1148 and 49.
Mm-hmm.
Half a floor over two floors.
Mm-hmm.
And then, um, my wife passed away. Then there was opportunity, the people next door put their house on the market
mm-hmm.
And went from down south. If somebody buys it and smokes will fill up my bedroom with a, with a smoke. I sued them and fired them. So I bought 'em, I bought their pen. So I've got two, two floors.
Okay. So you bought the next door penthouse just for a bit of privacy and I'm, I'm, you're going to renovate that shortly and I'm hoping that you'll throw a little christening party and invite me at some stage.
Yeah, many. Uh, look, this is, um, uh, something else that, um, is really an interesting philosophy and I'm not sure if these numbers are exactly correct, but. At some stage, you gifted approximately $200 million to your four kids as an early inheritance. Yeah. Why? Why?
Well, look, when my father was 59 years old and he gifted me his little farm, although it's not much, but you don't value your parents what they, what they, uh, how much they give you if they give you everything they have.
Mm-hmm.
And I've adopted the same philosophy.
Mm-hmm.
And I said to myself and my kids is, if you're gonna wait for me to die, you might be an old people. And I want you and your wives and your kids, I want to want to educate your kids. I want to live in a good house. I want to do everything. So he's, we sell the business.
We sold the general, uh, living gyms.
Mm-hmm.
We bought enough land. We bought more land than we had before. I said, you can go do your own thing. Whatever you could do. We give him 50 billion plus much more than that. Plus what they had before
each.
Yeah. Each all, all paid and everything. And I said, okay, so we are gonna give you, uh, we are gonna give you, I'm gonna give you all this money so you, when I pass away what I left for myself, you're just gonna go and, and split it between four of you.
And rather than go, uh, I've seen families. But an old man or mom, they, they hold onto the money, big money, and then they leave 90 years old. And the kids are very old and grandkids are, I want my grandkids go to top universities. I want 'em to go to top private schools. I wanna leave proper. I want 'em, if they're gonna make a mistake, I, I want to want them to make a mistake while I'm alive so we can talk to someone.
And then like, they want be, I want them to be them to be independent, and I'm gonna give this to them anyway. Mm-hmm. I don't gamble.
Mm-hmm.
And so I think it was a very, very wise decision. So they are free, they can start looking after themselves. They gonna taste of being little bosses themselves doing they, and they're doing quite well.
So I, I, I'm very proud, Andrew. I'm very proud of what I did, and I think every person that's listening
mm-hmm.
If you can, if you are gonna give your kids, don't give, don't wait till you're 90 and they're 80 or 75. Give them something now. Give 'em something that they can educate their kids. I want my kids and grandkids to be educated.
'cause today you need to be really educated.
Mm-hmm.
And then, uh, to, that's my philosophy and I'm very proud. If I have to do it again, I will do it again.
Well, Peter, I admire that philosophy very much. The only thing that comes into my subconscious. Is how? How can you trust that each of the four kids won't blow the money?
I mean, the listeners here are probably thinking, well, if I had that much money, if I gave it to my kids, it'd be gone within six months. How do you trust your kids not to blow it?
Look, your kids are you. If you bring bad people home, and don't be surprised if they bring bad people home. If you are gambler and, and do this and fight, don't be surprised going to, if you're drug, you don't be surprised if you're going to on, on Friday night and getting your son or daughter from, uh, police for drugs and everything.
So make sure don't be, don't such bad people. Don't bring bad people home and you're gonna go and like you can, if you even have a normal life, you're gonna die. So they're gonna, and so I'd rather do the, you, you teach 'em. Teach 'em now how to handle money. Mm-hmm.
Mm-hmm.
And that's exactly what, what they're doing.
They've got no problem at all. Yeah. But one day I'll die.
Mm-hmm.
One day they'll inherit it. And I would rather split the asset now whilst I'm alive.
Mm-hmm.
Rather than brothers doing it themselves. It's much easier when they got a, a middleman to talk to like a person.
Yeah.
Adjudicator talking to them.
Say that, what about this and what about this here? So when I passed away, there wouldn't be anything. Any contentious issue, anything to discuss that, just decide what's dead left. Mm-hmm. Before Penny and move on. But whether you like it or not
mm-hmm.
You're gonna pass your asset one day when you pass away.
Yeah. So why not do is sooner than rather.
Yeah. I mean, I'm sure the viewers just find this fascinating and, and that, that topic we just covered in a couple of minutes is probably worthy of a whole podcast. But I, I find it amazing and I, I think it's, uh. It shows an in, in incredible family value and incredible integrity, incredible trust.
I, I'm just fascinated by that story as I hope the viewers, uh, will be too. Um, Peter, I'm not sure if you have any advice here for smaller mom and dad investors, developers that, you know, might have, um, done a little subdivision or built a couple of duplexes. Do you, do you have any advice for people that want to become property developers?
Well, you gotta, uh, buy or rent a, buy a block of land.
Mm-hmm.
Buy a block of land and uh, buy a block of land. Even like, as you know, you make money, you gotta pay tax.
Mm-hmm.
If you buy a block of land and you, if you work three days a week on, for, for the boss, if you're not self-employed
mm-hmm.
And work three days on your land, anything, anything on your property, anything you do, you don't pay tax.
Mm-hmm.
Because working with themselves if you want to, but it's a great sacrifice.
Mm-hmm.
I remember being a millionaire on the Gold Coast. I used to pick up my kids from TSS in utility, ax Utility, and they were big boys and I'm a big man too. Physically big. And you go there and I, I used to go to this Toyota, T three or two of us, three of us in the car.
So I don't go to, I didn't go take my wife when, when I started building my ass, didn't take my wife, uh, to fancy restaurant. My wife's very modest.
Mm.
So I didn't take it to venture restaurant. I didn't spend the money on buying a food that's substandard food. Mm-hmm. Paying big money. I was, we are cooking home and now I don't care.
Mm-hmm. I don't care now, now I can afford it.
Mm-hmm.
But make sure. Make sure you bring in more than you spend.
Yeah.
Make sure you work very hard. Mm-hmm. Make sure you work six days a week. Mm-hmm. Make sure you go, uh, and, and look if you are, if you are a plumber
mm-hmm.
I'll go and do your, if I'm a carpenter, I'll go and do a couple of days work for you and your house, put your doors up, and then you do for me.
Just don't, I mean, this is legal.
Mm-hmm.
If I'm helping you
mm-hmm.
It's legal. I don't have to charge you.
Mm-hmm.
And you don't pay tax.
Yeah.
But that's just to get ahead. Mm-hmm. And that's for the benefit. Look, I did, I did my business. I didn't pay tax every year, but at the end I got, I didn't get caught, was just legal.
I had to pay them $70 million. So eventually country doesn't lose. You buy goods, you buy GSD, you buy everything, and you, you buy people beer to help you. So there's a bit of money for government too. Mm-hmm. So by moving and by spending money, by investing government, all the benefits, we all benefit.
Yeah.
And, and by by, by you having a house, you're not asking for government to give you a flat, you're not asking to, like country becomes, uh, better.
Mm-hmm.
Don't, just don't, don't think that, uh, um, working hard for yourself. That means you're helping society. I like, I don't have to, I never relied on, on any, uh, social, um,
security.
Yeah.
Um, I think, I think Kevin Rud sent me a check. $1,800. I paid, I paid $3 million tax and I got 18, 18, uh, hundred dollars for helping for COVID. And I said, and you know what? I didn't return it back. I put it in bank.
Yeah, right. Peter, there's, you told me. Um. You some time ago, you invested a little bit of money, diversifying nothing to do with property.
You started a business over in, uh, in England somewhere.
Yeah. Look, we, uh, we've developed here. Adrianne is mostly responsible and, and, and we tackle family with our gym life.
Mm-hmm.
Building our own internet here. And then we decided that in, uh, we decided to, uh, we got a license, federal government give us a license.
So, uh, we went to England in say, uh, Oxford, sh and Beshe, they, the congested housing, they can't dig footpaths to put new cables in. So we got wireless connection.
Oh yeah.
We went to, um, we went to England and we did the opportunity, we made the opportunity there to meet the government and the council, um, people and federal government and everything.
And we got a partner, a tackle family, another partner. They partner another partner with Gem Life.
Mm-hmm.
We've got a partner in England and we've got a partner, uh, in, in Sweden. They're all from Ericsson. So we've got using Ericsson technology.
Yeah.
And we are gonna try our luck and I think we'll be very successful, uh, connecting internet.
And we are talk, we are talking like hundreds of thousands. Tens of thousands of homes to start with connecting. Mm-hmm. And we get paid for connecting and we then sell internet. We bill, look, if this comes off, it's gonna be big.
Mm-hmm.
But like everything else, it takes a, takes a few years to start and takes it.
Hard work.
Mm-hmm.
And then you gotta trust of government when government trusts you. Mm-hmm.
And
then give you more work and that that's how you succeed. And then of course, uh, during the course when, when they, like I said to you, when you go into a nightclub mm-hmm. People look at you and then somebody will come.
They say, bye, you. Because this thing is like a German telecom and French telecom and everything. They uh, they don't like big competition.
Mm-hmm.
They don't mind you doing hard work in, in the, in the trench. But as soon as you start taking clients away, that they'll, they'll buy you. We know that We can't, we can't resist that.
Mm-hmm.
Because they're talking billions. They're talking billions.
Mm-hmm.
So look, we are gonna start.
Mm-hmm.
We are gonna start and we are on a good, we're in a good pathway to path to, to, um, succeed. Over there because we got all federal government, um, um, um, permits and we got a good technology.
Mm-hmm.
We got a man that's working for us, with us in my office.
It's been 25 years with Ericsson.
Mm-hmm.
Uh, and Ericsson technology is a military technology.
Mm-hmm.
So they, they do for military satellites and everything. So I think we are gonna a good part.
Yeah. And you, you're excited about the, I mean, it's funny because you've got this big property development business with retirement homes everywhere, and I can sense a sense of an emotion of excitement that this thing could be pretty big over there.
It could be good, but you see, I'm not gonna get too excited. I'm excited.
Mm-hmm.
But, uh, we got all the permits and you, as you know, coming from Australia, they're going to, uh, going to, uh, getting a trust. Or another country.
Mm-hmm.
And our mother country, I need, we need some more money, some of their money back here.
And, and we, and, and I think once we establish that trust
mm-hmm.
Then everything's done.
Mm-hmm.
Do, you know, trust everything in business, everything is, they trust you.
Mm-hmm.
You deliver what you promise.
Mm-hmm.
Clients are happy and we can move forward. Mm-hmm. And like I said, and, and then as soon as we, uh, we are picking up bits and pieces, which big companies are not interested
mm-hmm.
But we'll become big very soon. The big, big companies will say, well, you're taking my clients.
Mm-hmm.
Either we break you or we take you
or join you. Yeah. Or take over,
buy you
out.
So, so you know what? You have good thinking, you have a good sleep, and you say, look, you can't, you can't resist the wind. You gotta let the, let the big forces.
Peter, thank you for sharing your wisdom, your story. Um, it's just, uh, a blessing for our podcast to be able to offer. Such an incredible story. Um, guys, please, um, pass this, uh, podcast on to anyone you know, who's interested in property, interested in, uh, entrepreneurial success, and someone who's come to this country with nothing and built so much.
Peter, it's a pleasure to talk to you. I thank you for joining us on the podcast and, uh, appreciate it very much.
Yeah, likewise. Thank you. Thank you for having me again. It's my pleasure.
Okay.
Chess next, maybe tomorrow morning.
Okay. Sounds good.
Thank you.
Thanks, Peter. Bye. Thanks for listening to the Andrew Wright Property podcast.
This is all about building a community of like-minded investors who can share real life stories, experiences, and collaborate with a view to helping each other. Join us. Get in touch through the link in the show notes. I look forward to you joining me on the next episode.