{"version":"1.0.0","segments":[{"speaker":"Andrew Bean","startTime":0.0,"endTime":2.76,"body":"Welcome to the"},{"speaker":"Andrew Bean","startTime":0.0,"endTime":2.76,"body":"Financial Freedom series. My"},{"speaker":"Andrew Bean","startTime":2.76,"endTime":6.66,"body":"name is Andrew bean and I'm here"},{"speaker":"Andrew Bean","startTime":2.76,"endTime":6.66,"body":"with top mortgage broker and"},{"speaker":"Andrew Bean","startTime":6.66,"endTime":11.58,"body":"financial expert Victor Lagos,"},{"speaker":"Andrew Bean","startTime":6.66,"endTime":11.58,"body":"founder of Lagos. Financial How"},{"speaker":"Andrew Bean","startTime":11.58,"endTime":12.12,"body":"are you mate?"},{"speaker":"Victor Lagos","startTime":12.42,"endTime":13.5,"body":"Good, Andrew. Man,"},{"speaker":"Victor Lagos","startTime":12.42,"endTime":13.5,"body":"how are you?"},{"speaker":"Andrew Bean","startTime":13.89,"endTime":16.59,"body":"I'm fantastic,"},{"speaker":"Andrew Bean","startTime":13.89,"endTime":16.59,"body":"buddy. Man, we had such an"},{"speaker":"Andrew Bean","startTime":16.59,"endTime":20.25,"body":"awesome response. From the first"},{"speaker":"Andrew Bean","startTime":16.59,"endTime":20.25,"body":"episode, I actually got a"},{"speaker":"Andrew Bean","startTime":20.25,"endTime":24.45,"body":"response from a listener, saying"},{"speaker":"Andrew Bean","startTime":20.25,"endTime":24.45,"body":"that us talking about saving,"},{"speaker":"Andrew Bean","startTime":24.66,"endTime":29.01,"body":"got them excited about saving"},{"speaker":"Andrew Bean","startTime":24.66,"endTime":29.01,"body":"again. So big win big tick in"},{"speaker":"Andrew Bean","startTime":29.01,"endTime":29.73,"body":"that box."},{"speaker":"Victor Lagos","startTime":30.3,"endTime":32.43,"body":"It's good to hear"},{"speaker":"Victor Lagos","startTime":30.3,"endTime":32.43,"body":"not many people will get excited"},{"speaker":"Victor Lagos","startTime":32.43,"endTime":33.9,"body":"about saving. So that's it."},{"speaker":"Andrew Bean","startTime":33.93,"endTime":35.94,"body":"It's hard to get"},{"speaker":"Andrew Bean","startTime":33.93,"endTime":35.94,"body":"excited excited about savings."},{"speaker":"Andrew Bean","startTime":35.94,"endTime":39.27,"body":"But I guess when you can see"},{"speaker":"Andrew Bean","startTime":35.94,"endTime":39.27,"body":"your like, financial future"},{"speaker":"Andrew Bean","startTime":39.54,"endTime":42.18,"body":"ahead of you. And you can see"},{"speaker":"Andrew Bean","startTime":39.54,"endTime":42.18,"body":"little like, you know,"},{"speaker":"Andrew Bean","startTime":42.42,"endTime":46.17,"body":"roadblocks there. It makes it"},{"speaker":"Andrew Bean","startTime":42.42,"endTime":46.17,"body":"more exciting."},{"speaker":"Victor Lagos","startTime":46.35,"endTime":48.03,"body":"Yeah, just the"},{"speaker":"Victor Lagos","startTime":46.35,"endTime":48.03,"body":"little wins that you get along"},{"speaker":"Victor Lagos","startTime":48.03,"endTime":50.04,"body":"the way, right? Yeah, that's it."},{"speaker":"Andrew Bean","startTime":50.61,"endTime":53.28,"body":"Alright, so today"},{"speaker":"Andrew Bean","startTime":50.61,"endTime":53.28,"body":"in this episode, we're going to"},{"speaker":"Andrew Bean","startTime":53.28,"endTime":57.36,"body":"be talking about how you prepare"},{"speaker":"Andrew Bean","startTime":53.28,"endTime":57.36,"body":"yourself to get a loan as in the"},{"speaker":"Andrew Bean","startTime":57.36,"endTime":60.75,"body":"documentation that you need."},{"speaker":"Andrew Bean","startTime":57.36,"endTime":60.75,"body":"Because getting all the"},{"speaker":"Andrew Bean","startTime":60.75,"endTime":65.55,"body":"documents for a loan can be"},{"speaker":"Andrew Bean","startTime":60.75,"endTime":65.55,"body":"very, very daunting and a big"},{"speaker":"Andrew Bean","startTime":65.55,"endTime":67.74,"body":"pain in the ass. So make."},{"speaker":"Andrew Bean","startTime":76.14,"endTime":80.46,"body":"So might, it's an Omani toss to"},{"speaker":"Andrew Bean","startTime":76.14,"endTime":80.46,"body":"get the for the process of"},{"speaker":"Andrew Bean","startTime":80.46,"endTime":84.27,"body":"getting a loan? Can you just"},{"speaker":"Andrew Bean","startTime":80.46,"endTime":84.27,"body":"share with us like the"},{"speaker":"Andrew Bean","startTime":84.3,"endTime":88.38,"body":"information that you usually"},{"speaker":"Andrew Bean","startTime":84.3,"endTime":88.38,"body":"require or usually requests from"},{"speaker":"Andrew Bean","startTime":88.38,"endTime":89.37,"body":"your clients?"},{"speaker":"Victor Lagos","startTime":90.27,"endTime":93.21,"body":"Yeah, look. So"},{"speaker":"Victor Lagos","startTime":90.27,"endTime":93.21,"body":"it's a daunting thing, it's"},{"speaker":"Victor Lagos","startTime":93.21,"endTime":95.94,"body":"probably one of the hardest"},{"speaker":"Victor Lagos","startTime":93.21,"endTime":95.94,"body":"things for a customer to do is"},{"speaker":"Victor Lagos","startTime":95.94,"endTime":99.6,"body":"to get all the documents in"},{"speaker":"Victor Lagos","startTime":95.94,"endTime":99.6,"body":"order, and then send them all to"},{"speaker":"Victor Lagos","startTime":99.6,"endTime":105.09,"body":"the to the broker to get the"},{"speaker":"Victor Lagos","startTime":99.6,"endTime":105.09,"body":"loan application going. And"},{"speaker":"Victor Lagos","startTime":105.12,"endTime":108.27,"body":"there are tools now that you"},{"speaker":"Victor Lagos","startTime":105.12,"endTime":108.27,"body":"know, I've got access to that"},{"speaker":"Victor Lagos","startTime":108.27,"endTime":112.98,"body":"make it a little bit easier."},{"speaker":"Victor Lagos","startTime":108.27,"endTime":112.98,"body":"But, you know, if you just think"},{"speaker":"Victor Lagos","startTime":112.98,"endTime":117.66,"body":"about, you know, in order to"},{"speaker":"Victor Lagos","startTime":112.98,"endTime":117.66,"body":"apply for a loan, the bank needs"},{"speaker":"Victor Lagos","startTime":117.66,"endTime":120.39,"body":"to know who you are. So first"},{"speaker":"Victor Lagos","startTime":117.66,"endTime":120.39,"body":"and foremost, they're going to"},{"speaker":"Victor Lagos","startTime":120.39,"endTime":125.4,"body":"have to see your 100 points of"},{"speaker":"Victor Lagos","startTime":120.39,"endTime":125.4,"body":"ID, driver's license, passport,"},{"speaker":"Victor Lagos","startTime":125.94,"endTime":129.81,"body":"if you don't have if it's not"},{"speaker":"Victor Lagos","startTime":125.94,"endTime":129.81,"body":"expired, you sorry, if it is"},{"speaker":"Victor Lagos","startTime":129.81,"endTime":133.11,"body":"expired, you need to get"},{"speaker":"Victor Lagos","startTime":129.81,"endTime":133.11,"body":"probably a Medicare as well, or"},{"speaker":"Victor Lagos","startTime":133.11,"endTime":136.53,"body":"even a birth certificate. If"},{"speaker":"Victor Lagos","startTime":133.11,"endTime":136.53,"body":"you've been married, or change"},{"speaker":"Victor Lagos","startTime":136.53,"endTime":138.42,"body":"of name, and you haven't swapped"},{"speaker":"Victor Lagos","startTime":136.53,"endTime":138.42,"body":"it over, you need to provide a"},{"speaker":"Victor Lagos","startTime":138.42,"endTime":141.57,"body":"marriage certificate as well. So"},{"speaker":"Victor Lagos","startTime":138.42,"endTime":141.57,"body":"there's that part. And then the"},{"speaker":"Victor Lagos","startTime":141.57,"endTime":145.59,"body":"next one is understanding your"},{"speaker":"Victor Lagos","startTime":141.57,"endTime":145.59,"body":"income. So the bank obviously"},{"speaker":"Victor Lagos","startTime":145.59,"endTime":148.26,"body":"wants to understand how much"},{"speaker":"Victor Lagos","startTime":145.59,"endTime":148.26,"body":"you're earning. If you're if"},{"speaker":"Victor Lagos","startTime":148.26,"endTime":152.55,"body":"your PAYG a pay slip should be"},{"speaker":"Victor Lagos","startTime":148.26,"endTime":152.55,"body":"enough or usually to most recent"},{"speaker":"Victor Lagos","startTime":152.55,"endTime":156.03,"body":"payslips. And depending on when"},{"speaker":"Victor Lagos","startTime":152.55,"endTime":156.03,"body":"you started the job, you might"},{"speaker":"Victor Lagos","startTime":156.03,"endTime":159.6,"body":"need to also provide an"},{"speaker":"Victor Lagos","startTime":156.03,"endTime":159.6,"body":"employment contract to show that"},{"speaker":"Victor Lagos","startTime":159.6,"endTime":164.58,"body":"that income that you that you're"},{"speaker":"Victor Lagos","startTime":159.6,"endTime":164.58,"body":"receiving is in line with how"},{"speaker":"Victor Lagos","startTime":164.58,"endTime":168.12,"body":"much your base salary is. So for"},{"speaker":"Victor Lagos","startTime":164.58,"endTime":168.12,"body":"example, if you just started in"},{"speaker":"Victor Lagos","startTime":168.9,"endTime":173.76,"body":"March, and we're now in April,"},{"speaker":"Victor Lagos","startTime":168.9,"endTime":173.76,"body":"well, one payslips No, look,"},{"speaker":"Victor Lagos","startTime":173.82,"endTime":176.28,"body":"it's going to look a bit funny"},{"speaker":"Victor Lagos","startTime":173.82,"endTime":176.28,"body":"if you say you started like last"},{"speaker":"Victor Lagos","startTime":176.28,"endTime":178.68,"body":"year, right? So they won't"},{"speaker":"Victor Lagos","startTime":176.28,"endTime":178.68,"body":"actually see that it matches up"},{"speaker":"Victor Lagos","startTime":178.68,"endTime":180.48,"body":"based on your start date. So"},{"speaker":"Victor Lagos","startTime":178.68,"endTime":180.48,"body":"that's why you might need"},{"speaker":"Victor Lagos","startTime":180.48,"endTime":183.9,"body":"employment contract. And then if"},{"speaker":"Victor Lagos","startTime":180.48,"endTime":183.9,"body":"you're earning bonuses, or"},{"speaker":"Victor Lagos","startTime":183.9,"endTime":188.61,"body":"commissions, then we're going to"},{"speaker":"Victor Lagos","startTime":183.9,"endTime":188.61,"body":"have to provide evidence of like"},{"speaker":"Victor Lagos","startTime":188.61,"endTime":192.51,"body":"the year before. So like an"},{"speaker":"Victor Lagos","startTime":188.61,"endTime":192.51,"body":"income tax ready statement, or"},{"speaker":"Victor Lagos","startTime":192.51,"endTime":196.2,"body":"PAYG summary that you can"},{"speaker":"Victor Lagos","startTime":192.51,"endTime":196.2,"body":"download from the ATO portal. So"},{"speaker":"Victor Lagos","startTime":196.2,"endTime":200.01,"body":"then that's if you PAYG. So this"},{"speaker":"Victor Lagos","startTime":196.2,"endTime":200.01,"body":"is this is a long list, right?"},{"speaker":"Victor Lagos","startTime":202.44,"endTime":205.32,"body":"But more in detail, so say"},{"speaker":"Victor Lagos","startTime":202.44,"endTime":205.32,"body":"you're self employed. If you're"},{"speaker":"Victor Lagos","startTime":205.32,"endTime":208.56,"body":"a sole trader, you're going to"},{"speaker":"Victor Lagos","startTime":205.32,"endTime":208.56,"body":"need just your individual tax"},{"speaker":"Victor Lagos","startTime":208.56,"endTime":211.83,"body":"return. And a lot of people get"},{"speaker":"Victor Lagos","startTime":208.56,"endTime":211.83,"body":"this this wrong, they download"},{"speaker":"Victor Lagos","startTime":211.83,"endTime":215.31,"body":"it from the ATO portal, they"},{"speaker":"Victor Lagos","startTime":211.83,"endTime":215.31,"body":"just get like five pages they"},{"speaker":"Victor Lagos","startTime":215.31,"endTime":218.1,"body":"can download from there are"},{"speaker":"Victor Lagos","startTime":215.31,"endTime":218.1,"body":"sometimes people think it's the"},{"speaker":"Victor Lagos","startTime":218.28,"endTime":221.7,"body":"notice of assessment. But that's"},{"speaker":"Victor Lagos","startTime":218.28,"endTime":221.7,"body":"you have to provide them that"},{"speaker":"Victor Lagos","startTime":221.7,"endTime":224.7,"body":"assessment, as well as the"},{"speaker":"Victor Lagos","startTime":221.7,"endTime":224.7,"body":"individual tax return, and"},{"speaker":"Victor Lagos","startTime":224.7,"endTime":228.0,"body":"individual texture and can be"},{"speaker":"Victor Lagos","startTime":224.7,"endTime":228.0,"body":"like 10 pages. And that's per"},{"speaker":"Victor Lagos","startTime":228.48,"endTime":230.64,"body":"per borrower, right. So if"},{"speaker":"Victor Lagos","startTime":228.48,"endTime":230.64,"body":"there's two of you that you need"},{"speaker":"Victor Lagos","startTime":230.64,"endTime":235.14,"body":"both of them for the last two"},{"speaker":"Victor Lagos","startTime":230.64,"endTime":235.14,"body":"financial years, to FY 22, and"},{"speaker":"Victor Lagos","startTime":235.14,"endTime":238.71,"body":"fy 21. So that's for tax returns"},{"speaker":"Victor Lagos","startTime":235.14,"endTime":238.71,"body":"in providing for notice of"},{"speaker":"Victor Lagos","startTime":238.71,"endTime":242.91,"body":"assessments. And then if you're,"},{"speaker":"Victor Lagos","startTime":238.71,"endTime":242.91,"body":"if you have a company or a"},{"speaker":"Victor Lagos","startTime":242.91,"endTime":246.51,"body":"trust, then you also need to"},{"speaker":"Victor Lagos","startTime":242.91,"endTime":246.51,"body":"provide the last two years of"},{"speaker":"Victor Lagos","startTime":246.51,"endTime":250.56,"body":"company tax returns, or trust"},{"speaker":"Victor Lagos","startTime":246.51,"endTime":250.56,"body":"tax returns. And then there's"},{"speaker":"Victor Lagos","startTime":250.56,"endTime":253.26,"body":"also financial statements, that"},{"speaker":"Victor Lagos","startTime":250.56,"endTime":253.26,"body":"is the profit and loss statement"},{"speaker":"Victor Lagos","startTime":253.29,"endTime":257.04,"body":"or a balance sheet. So then you"},{"speaker":"Victor Lagos","startTime":253.29,"endTime":257.04,"body":"need to get that for the last"},{"speaker":"Victor Lagos","startTime":257.04,"endTime":260.76,"body":"two years. So that's the income"},{"speaker":"Victor Lagos","startTime":257.04,"endTime":260.76,"body":"part. And then we want to"},{"speaker":"Victor Lagos","startTime":260.79,"endTime":264.6,"body":"obviously look at your your"},{"speaker":"Victor Lagos","startTime":260.79,"endTime":264.6,"body":"liabilities. So then if you've"},{"speaker":"Victor Lagos","startTime":264.6,"endTime":267.21,"body":"got multiple properties, can"},{"speaker":"Victor Lagos","startTime":264.6,"endTime":267.21,"body":"imagine there's a lot of"},{"speaker":"Victor Lagos","startTime":267.45,"endTime":271.68,"body":"statements and that you need to"},{"speaker":"Victor Lagos","startTime":267.45,"endTime":271.68,"body":"provide. And usually, a bank"},{"speaker":"Victor Lagos","startTime":271.68,"endTime":273.99,"body":"will want to see if they're"},{"speaker":"Victor Lagos","startTime":271.68,"endTime":273.99,"body":"going to refinance the debt,"},{"speaker":"Victor Lagos","startTime":273.99,"endTime":278.37,"body":"they're going to want to see the"},{"speaker":"Victor Lagos","startTime":273.99,"endTime":278.37,"body":"last six months worth. And what"},{"speaker":"Victor Lagos","startTime":278.37,"endTime":281.07,"body":"I mentioned earlier that there's"},{"speaker":"Victor Lagos","startTime":278.37,"endTime":281.07,"body":"tools that you can use, well,"},{"speaker":"Victor Lagos","startTime":281.07,"endTime":284.37,"body":"that's usually to retrieve bank"},{"speaker":"Victor Lagos","startTime":281.07,"endTime":284.37,"body":"statements. Because say you've"},{"speaker":"Victor Lagos","startTime":284.37,"endTime":287.85,"body":"got five properties and you've"},{"speaker":"Victor Lagos","startTime":284.37,"endTime":287.85,"body":"gone across to five different"},{"speaker":"Victor Lagos","startTime":287.85,"endTime":291.57,"body":"banks. You now need to get the"},{"speaker":"Victor Lagos","startTime":287.85,"endTime":291.57,"body":"last six months if you're going"},{"speaker":"Victor Lagos","startTime":291.57,"endTime":296.37,"body":"to refinance in the last six"},{"speaker":"Victor Lagos","startTime":291.57,"endTime":296.37,"body":"months of transaction history"},{"speaker":"Victor Lagos","startTime":297.27,"endTime":299.97,"body":"statements that shows the"},{"speaker":"Victor Lagos","startTime":297.27,"endTime":299.97,"body":"balance, interest rate there"},{"speaker":"Victor Lagos","startTime":300.0,"endTime":304.59,"body":"payments for all of them. And"},{"speaker":"Victor Lagos","startTime":300.0,"endTime":304.59,"body":"depending on where you are in"},{"speaker":"Victor Lagos","startTime":304.59,"endTime":307.62,"body":"the year, they may not have"},{"speaker":"Victor Lagos","startTime":304.59,"endTime":307.62,"body":"produced that statement yet. So"},{"speaker":"Victor Lagos","startTime":307.62,"endTime":309.9,"body":"then you actually have to"},{"speaker":"Victor Lagos","startTime":307.62,"endTime":309.9,"body":"download a transaction history"},{"speaker":"Victor Lagos","startTime":309.9,"endTime":313.23,"body":"that covers, you know, the"},{"speaker":"Victor Lagos","startTime":309.9,"endTime":313.23,"body":"period between, say now"},{"speaker":"Victor Lagos","startTime":313.26,"endTime":316.05,"body":"backwards six months, and you"},{"speaker":"Victor Lagos","startTime":313.26,"endTime":316.05,"body":"might get a statement. So we're"},{"speaker":"Victor Lagos","startTime":316.05,"endTime":319.56,"body":"in April. So you might get a"},{"speaker":"Victor Lagos","startTime":316.05,"endTime":319.56,"body":"statement until December 2022."},{"speaker":"Victor Lagos","startTime":320.04,"endTime":323.76,"body":"What about the last four month?"},{"speaker":"Victor Lagos","startTime":320.04,"endTime":323.76,"body":"We need that too? So then, you"},{"speaker":"Victor Lagos","startTime":323.76,"endTime":327.84,"body":"know, some people just download"},{"speaker":"Victor Lagos","startTime":323.76,"endTime":327.84,"body":"a CSV or spreadsheet and the"},{"speaker":"Victor Lagos","startTime":327.84,"endTime":331.08,"body":"transaction and say, Can I use"},{"speaker":"Victor Lagos","startTime":327.84,"endTime":331.08,"body":"this? I'm like, Well, if you can"},{"speaker":"Victor Lagos","startTime":331.08,"endTime":333.66,"body":"change it, then no, because"},{"speaker":"Victor Lagos","startTime":331.08,"endTime":333.66,"body":"obviously, the bank wants to"},{"speaker":"Victor Lagos","startTime":333.66,"endTime":336.18,"body":"make sure that your payments are"},{"speaker":"Victor Lagos","startTime":333.66,"endTime":336.18,"body":"on time. And if you can change"},{"speaker":"Victor Lagos","startTime":336.18,"endTime":338.97,"body":"the spreadsheet and say, Look, I"},{"speaker":"Victor Lagos","startTime":336.18,"endTime":338.97,"body":"made the payment on time, well,"},{"speaker":"Victor Lagos","startTime":339.0,"endTime":343.77,"body":"they're gonna want to see a PDF,"},{"speaker":"Victor Lagos","startTime":339.0,"endTime":343.77,"body":"an editable version. So it's"},{"speaker":"Victor Lagos","startTime":343.77,"endTime":345.93,"body":"sometimes a bit tricky to"},{"speaker":"Victor Lagos","startTime":343.77,"endTime":345.93,"body":"navigate. When there's multiple"},{"speaker":"Victor Lagos","startTime":345.93,"endTime":349.02,"body":"banks, there is a tool that I"},{"speaker":"Victor Lagos","startTime":345.93,"endTime":349.02,"body":"use, it's called bank"},{"speaker":"Victor Lagos","startTime":349.02,"endTime":353.01,"body":"statements.com. That a year,"},{"speaker":"Victor Lagos","startTime":349.02,"endTime":353.01,"body":"where you basically just enter"},{"speaker":"Victor Lagos","startTime":353.01,"endTime":356.04,"body":"your bank credentials, and you"},{"speaker":"Victor Lagos","startTime":353.01,"endTime":356.04,"body":"just select the bank that you"},{"speaker":"Victor Lagos","startTime":356.04,"endTime":358.8,"body":"with, it's usually available for"},{"speaker":"Victor Lagos","startTime":356.04,"endTime":358.8,"body":"most banks, some credit unions"},{"speaker":"Victor Lagos","startTime":358.8,"endTime":362.58,"body":"aren't included. And you just"},{"speaker":"Victor Lagos","startTime":358.8,"endTime":362.58,"body":"say select Yep. And it's it's"},{"speaker":"Victor Lagos","startTime":362.58,"endTime":365.55,"body":"bank encrypted, so it doesn't"},{"speaker":"Victor Lagos","startTime":362.58,"endTime":365.55,"body":"get stored anywhere. And it just"},{"speaker":"Victor Lagos","startTime":365.55,"endTime":369.9,"body":"gets sent to me. I have a"},{"speaker":"Victor Lagos","startTime":365.55,"endTime":369.9,"body":"subscription model for that. So"},{"speaker":"Victor Lagos","startTime":369.93,"endTime":371.79,"body":"that covers that. You want to"},{"speaker":"Victor Lagos","startTime":369.93,"endTime":371.79,"body":"keep going?"},{"speaker":"Andrew Bean","startTime":372.27,"endTime":374.1,"body":"No, I keep going. I"},{"speaker":"Andrew Bean","startTime":372.27,"endTime":374.1,"body":"want to hear all of it. This is"},{"speaker":"Andrew Bean","startTime":374.1,"endTime":378.09,"body":"why it's such a pain in the ass."},{"speaker":"Andrew Bean","startTime":374.1,"endTime":378.09,"body":"Keep going. Okay, so if"},{"speaker":"Victor Lagos","startTime":378.99,"endTime":381.09,"body":"you know, we're"},{"speaker":"Victor Lagos","startTime":378.99,"endTime":381.09,"body":"talking, you know, generally"},{"speaker":"Victor Lagos","startTime":381.09,"endTime":385.02,"body":"speaking here. So if you're"},{"speaker":"Victor Lagos","startTime":381.09,"endTime":385.02,"body":"buying something, you're also"},{"speaker":"Victor Lagos","startTime":385.05,"endTime":389.46,"body":"going to need to provide"},{"speaker":"Victor Lagos","startTime":385.05,"endTime":389.46,"body":"evidence of a deposit. Where's"},{"speaker":"Victor Lagos","startTime":389.46,"endTime":392.01,"body":"that coming from? Have you saved"},{"speaker":"Victor Lagos","startTime":389.46,"endTime":392.01,"body":"it up? Have you got any multiple"},{"speaker":"Victor Lagos","startTime":392.01,"endTime":394.32,"body":"accounts? Have you got some"},{"speaker":"Victor Lagos","startTime":392.01,"endTime":394.32,"body":"shares that you're going to"},{"speaker":"Victor Lagos","startTime":394.77,"endTime":398.79,"body":"liquidate? Or are you getting"},{"speaker":"Victor Lagos","startTime":394.77,"endTime":398.79,"body":"gifts from family. So if you're"},{"speaker":"Victor Lagos","startTime":398.79,"endTime":402.99,"body":"getting, you know, the Bank of"},{"speaker":"Victor Lagos","startTime":398.79,"endTime":402.99,"body":"mom and dad coming coming in,"},{"speaker":"Victor Lagos","startTime":402.99,"endTime":405.36,"body":"and they're going to have to"},{"speaker":"Victor Lagos","startTime":402.99,"endTime":405.36,"body":"write up a declaration or a"},{"speaker":"Victor Lagos","startTime":405.36,"endTime":408.09,"body":"letter that says they're gifting"},{"speaker":"Victor Lagos","startTime":405.36,"endTime":408.09,"body":"you those funds and then non"},{"speaker":"Victor Lagos","startTime":408.09,"endTime":411.63,"body":"refundable. If you're going to"},{"speaker":"Victor Lagos","startTime":408.09,"endTime":411.63,"body":"borrow the money, because it"},{"speaker":"Victor Lagos","startTime":411.63,"endTime":414.48,"body":"does happen. Sometimes people"},{"speaker":"Victor Lagos","startTime":411.63,"endTime":414.48,"body":"will lend you the money, then it"},{"speaker":"Victor Lagos","startTime":414.48,"endTime":418.89,"body":"needs to stipulate what those"},{"speaker":"Victor Lagos","startTime":414.48,"endTime":418.89,"body":"terms are. So if you're making"},{"speaker":"Victor Lagos","startTime":418.89,"endTime":421.41,"body":"repayments over a three year"},{"speaker":"Victor Lagos","startTime":418.89,"endTime":421.41,"body":"period, or a five year, whatever"},{"speaker":"Victor Lagos","startTime":421.41,"endTime":424.98,"body":"it is, it needs to say that,"},{"speaker":"Victor Lagos","startTime":421.41,"endTime":424.98,"body":"because then that commitment, or"},{"speaker":"Victor Lagos","startTime":424.98,"endTime":427.65,"body":"that monthly repayment needs to"},{"speaker":"Victor Lagos","startTime":424.98,"endTime":427.65,"body":"be put into the serviceability"},{"speaker":"Victor Lagos","startTime":427.65,"endTime":428.19,"body":"calculator."},{"speaker":"Andrew Bean","startTime":429.42,"endTime":432.21,"body":"And also there"},{"speaker":"Andrew Bean","startTime":429.42,"endTime":432.21,"body":"because if you're borrowing it,"},{"speaker":"Andrew Bean","startTime":432.21,"endTime":435.9,"body":"they're going to look at you as"},{"speaker":"Andrew Bean","startTime":432.21,"endTime":435.9,"body":"100% 100% financed. So they"},{"speaker":"Andrew Bean","startTime":435.93,"endTime":438.18,"body":"don't You don't have any skin in"},{"speaker":"Andrew Bean","startTime":435.93,"endTime":438.18,"body":"the game. And and it won't look"},{"speaker":"Andrew Bean","startTime":438.18,"endTime":438.9,"body":"good to them. Right?"},{"speaker":"Victor Lagos","startTime":439.56,"endTime":442.89,"body":"Yeah, well, it"},{"speaker":"Victor Lagos","startTime":439.56,"endTime":442.89,"body":"depends on the end LVR. Because,"},{"speaker":"Victor Lagos","startTime":442.92,"endTime":445.89,"body":"you know, to be honest with you,"},{"speaker":"Victor Lagos","startTime":442.92,"endTime":445.89,"body":"they don't, they don't care too"},{"speaker":"Victor Lagos","startTime":445.89,"endTime":448.83,"body":"much about not having skin in"},{"speaker":"Victor Lagos","startTime":445.89,"endTime":448.83,"body":"the game, as long as you can"},{"speaker":"Victor Lagos","startTime":448.83,"endTime":452.7,"body":"come up the cash. So, you know,"},{"speaker":"Victor Lagos","startTime":448.83,"endTime":452.7,"body":"that's why people can take money"},{"speaker":"Victor Lagos","startTime":452.7,"endTime":456.78,"body":"from equity. Right, use that as"},{"speaker":"Victor Lagos","startTime":452.7,"endTime":456.78,"body":"a deposit. Yeah, so technically,"},{"speaker":"Victor Lagos","startTime":456.78,"endTime":460.44,"body":"that's not your skin, it's your"},{"speaker":"Victor Lagos","startTime":456.78,"endTime":460.44,"body":"equity, right. But it's coming"},{"speaker":"Victor Lagos","startTime":460.44,"endTime":463.08,"body":"from a property that you bought,"},{"speaker":"Victor Lagos","startTime":460.44,"endTime":463.08,"body":"maybe a lot less than than what"},{"speaker":"Victor Lagos","startTime":463.08,"endTime":466.14,"body":"you evaluate for now. So then in"},{"speaker":"Victor Lagos","startTime":463.08,"endTime":466.14,"body":"that instance, you would provide"},{"speaker":"Victor Lagos","startTime":466.14,"endTime":469.77,"body":"a statement, or a, even a loan"},{"speaker":"Victor Lagos","startTime":466.14,"endTime":469.77,"body":"approval. So I've got deals"},{"speaker":"Victor Lagos","startTime":469.77,"endTime":472.8,"body":"approved where I provide the"},{"speaker":"Victor Lagos","startTime":469.77,"endTime":472.8,"body":"conditional or formal loan"},{"speaker":"Victor Lagos","startTime":472.8,"endTime":476.52,"body":"approval from another bank to"},{"speaker":"Victor Lagos","startTime":472.8,"endTime":476.52,"body":"say, X amount is, you know,"},{"speaker":"Victor Lagos","startTime":477.18,"endTime":479.85,"body":"extra, let's equity we're going"},{"speaker":"Victor Lagos","startTime":477.18,"endTime":479.85,"body":"to use as a deposit. So we"},{"speaker":"Victor Lagos","startTime":479.85,"endTime":485.58,"body":"provide that. And then if if it"},{"speaker":"Victor Lagos","startTime":479.85,"endTime":485.58,"body":"gets a little bit more like"},{"speaker":"Victor Lagos","startTime":485.67,"endTime":488.25,"body":"safe, commercially orientated,"},{"speaker":"Victor Lagos","startTime":485.67,"endTime":488.25,"body":"they're going to want to see a"},{"speaker":"Victor Lagos","startTime":488.25,"endTime":491.91,"body":"copy of the lease. And it's"},{"speaker":"Victor Lagos","startTime":488.25,"endTime":491.91,"body":"usually they want to see it"},{"speaker":"Victor Lagos","startTime":491.91,"endTime":495.51,"body":"registered as well. They're"},{"speaker":"Victor Lagos","startTime":491.91,"endTime":495.51,"body":"going to want to see the trust"},{"speaker":"Victor Lagos","startTime":495.51,"endTime":499.02,"body":"deed. So if you bought it in a"},{"speaker":"Victor Lagos","startTime":495.51,"endTime":499.02,"body":"in an SPV, which is known as a"},{"speaker":"Victor Lagos","startTime":499.02,"endTime":503.13,"body":"special purpose vehicle, or a"},{"speaker":"Victor Lagos","startTime":499.02,"endTime":503.13,"body":"trust or a company to own the"},{"speaker":"Victor Lagos","startTime":503.13,"endTime":509.4,"body":"property, they're going to want"},{"speaker":"Victor Lagos","startTime":503.13,"endTime":509.4,"body":"to see the trust deed, and"},{"speaker":"Victor Lagos","startTime":509.4,"endTime":515.31,"body":"usually want that to be"},{"speaker":"Victor Lagos","startTime":509.4,"endTime":515.31,"body":"certified by a JP as well. And"},{"speaker":"Victor Lagos","startTime":515.31,"endTime":518.37,"body":"then on top of that, they want"},{"speaker":"Victor Lagos","startTime":515.31,"endTime":518.37,"body":"to see the last 12 months of a"},{"speaker":"Victor Lagos","startTime":520.44,"endTime":524.16,"body":"integrated, integrated client"},{"speaker":"Victor Lagos","startTime":520.44,"endTime":524.16,"body":"account. So this is something"},{"speaker":"Victor Lagos","startTime":524.16,"endTime":527.07,"body":"that your accountant can"},{"speaker":"Victor Lagos","startTime":524.16,"endTime":527.07,"body":"actually download from the ATO"},{"speaker":"Victor Lagos","startTime":527.07,"endTime":531.9,"body":"portal that they use, and an"},{"speaker":"Victor Lagos","startTime":527.07,"endTime":531.9,"body":"integrated tax account as well,"},{"speaker":"Victor Lagos","startTime":532.05,"endTime":536.94,"body":"which shows that you're up to"},{"speaker":"Victor Lagos","startTime":532.05,"endTime":536.94,"body":"date with the taxes. And then,"},{"speaker":"Victor Lagos","startTime":536.94,"endTime":540.78,"body":"of course, you know, we talked"},{"speaker":"Victor Lagos","startTime":536.94,"endTime":540.78,"body":"about in the first episode about"},{"speaker":"Victor Lagos","startTime":540.93,"endTime":544.68,"body":"your transactional account. So"},{"speaker":"Victor Lagos","startTime":540.93,"endTime":544.68,"body":"occasionally, we'll have to"},{"speaker":"Victor Lagos","startTime":544.68,"endTime":548.88,"body":"provide evidence from your main"},{"speaker":"Victor Lagos","startTime":544.68,"endTime":548.88,"body":"transactional account. This is"},{"speaker":"Victor Lagos","startTime":548.88,"endTime":550.95,"body":"where your pay goes to this"},{"speaker":"Victor Lagos","startTime":548.88,"endTime":550.95,"body":"where you spend your money from,"},{"speaker":"Victor Lagos","startTime":551.37,"endTime":554.82,"body":"but it's not always required. I"},{"speaker":"Victor Lagos","startTime":551.37,"endTime":554.82,"body":"personally try and avoid it if I"},{"speaker":"Victor Lagos","startTime":554.82,"endTime":559.2,"body":"can. Because I don't want to"},{"speaker":"Victor Lagos","startTime":554.82,"endTime":559.2,"body":"spend so much time highlighting"},{"speaker":"Victor Lagos","startTime":559.2,"endTime":562.05,"body":"every single expense over the"},{"speaker":"Victor Lagos","startTime":559.2,"endTime":562.05,"body":"last three to six months, and"},{"speaker":"Victor Lagos","startTime":562.05,"endTime":565.68,"body":"then questioning you, you know,"},{"speaker":"Victor Lagos","startTime":562.05,"endTime":565.68,"body":"did you is this an ongoing"},{"speaker":"Victor Lagos","startTime":565.68,"endTime":568.17,"body":"expense? Or was it a one off?"},{"speaker":"Victor Lagos","startTime":565.68,"endTime":568.17,"body":"It's just it's very time"},{"speaker":"Victor Lagos","startTime":568.17,"endTime":570.36,"body":"consuming. And banks don't want"},{"speaker":"Victor Lagos","startTime":568.17,"endTime":570.36,"body":"to do it either. To be honest,"},{"speaker":"Victor Lagos","startTime":570.78,"endTime":573.72,"body":"so the less less is more"},{"speaker":"Victor Lagos","startTime":570.78,"endTime":573.72,"body":"sometimes."},{"speaker":"Andrew Bean","startTime":575.13,"endTime":577.8,"body":"Okay, so that"},{"speaker":"Andrew Bean","startTime":575.13,"endTime":577.8,"body":"obviously that big monster"},{"speaker":"Andrew Bean","startTime":577.8,"endTime":580.32,"body":"shopping list that you just gave"},{"speaker":"Andrew Bean","startTime":577.8,"endTime":580.32,"body":"us there, that was like worst"},{"speaker":"Andrew Bean","startTime":580.32,"endTime":584.97,"body":"case scenario, if you're, you"},{"speaker":"Andrew Bean","startTime":580.32,"endTime":584.97,"body":"know, PAYG and also got your own"},{"speaker":"Andrew Bean","startTime":584.97,"endTime":587.7,"body":"business or something like that,"},{"speaker":"Andrew Bean","startTime":584.97,"endTime":587.7,"body":"like it's like, that's not the"},{"speaker":"Andrew Bean","startTime":587.7,"endTime":591.96,"body":"usual what's, what's an average"},{"speaker":"Andrew Bean","startTime":587.7,"endTime":591.96,"body":"client need? Like, usually it's"},{"speaker":"Andrew Bean","startTime":591.96,"endTime":597.63,"body":"just if they're, if they're P"},{"speaker":"Andrew Bean","startTime":591.96,"endTime":597.63,"body":"PAYG. You know, worker, they've"},{"speaker":"Andrew Bean","startTime":597.69,"endTime":601.08,"body":"got to deposit what's the bare"},{"speaker":"Andrew Bean","startTime":597.69,"endTime":601.08,"body":"minimum that you would usually"},{"speaker":"Andrew Bean","startTime":601.08,"endTime":601.71,"body":"get from them"},{"speaker":"Victor Lagos","startTime":602.67,"endTime":607.35,"body":"PAYG. Two most"},{"speaker":"Victor Lagos","startTime":602.67,"endTime":607.35,"body":"recent payslips. Yep, bank"},{"speaker":"Victor Lagos","startTime":607.35,"endTime":609.42,"body":"statement last three months"},{"speaker":"Victor Lagos","startTime":607.35,"endTime":609.42,"body":"showing how much they've got"},{"speaker":"Victor Lagos","startTime":609.42,"endTime":613.02,"body":"available for the deposit. And"},{"speaker":"Victor Lagos","startTime":609.42,"endTime":613.02,"body":"Id, that's it."},{"speaker":"Andrew Bean","startTime":613.829,"endTime":615.809,"body":"So but you'll have"},{"speaker":"Andrew Bean","startTime":613.829,"endTime":615.809,"body":"them fill out some kind of a"},{"speaker":"Andrew Bean","startTime":615.809,"endTime":618.929,"body":"fact, fact fine as well, though,"},{"speaker":"Andrew Bean","startTime":615.809,"endTime":618.929,"body":"with their expenses and things"},{"speaker":"Andrew Bean","startTime":618.929,"endTime":619.559,"body":"like that, right?"},{"speaker":"Victor Lagos","startTime":619.679,"endTime":621.089,"body":"Oh, of course,"},{"speaker":"Victor Lagos","startTime":619.679,"endTime":621.089,"body":"yeah. So we're just talking"},{"speaker":"Victor Lagos","startTime":621.089,"endTime":624.689,"body":"about supporting documents. So"},{"speaker":"Victor Lagos","startTime":621.089,"endTime":624.689,"body":"the fact find is, I have an"},{"speaker":"Victor Lagos","startTime":624.689,"endTime":628.169,"body":"electronic portal that I use. So"},{"speaker":"Victor Lagos","startTime":624.689,"endTime":628.169,"body":"rather than customers, you know,"},{"speaker":"Victor Lagos","startTime":628.169,"endTime":632.669,"body":"printing out a PDF, and then"},{"speaker":"Victor Lagos","startTime":628.169,"endTime":632.669,"body":"filling out by hand or needing,"},{"speaker":"Victor Lagos","startTime":632.699,"endTime":635.819,"body":"you know, W professional to edit"},{"speaker":"Victor Lagos","startTime":632.699,"endTime":635.819,"body":"it on the computer, it's an"},{"speaker":"Victor Lagos","startTime":635.849,"endTime":639.989,"body":"online secure portal. So they"},{"speaker":"Victor Lagos","startTime":635.849,"endTime":639.989,"body":"get a unique code, they get to"},{"speaker":"Victor Lagos","startTime":639.989,"endTime":642.929,"body":"log in fill out on their own"},{"speaker":"Victor Lagos","startTime":639.989,"endTime":642.929,"body":"time. And then that's where they"},{"speaker":"Victor Lagos","startTime":642.929,"endTime":645.539,"body":"complete their expenses. And you"},{"speaker":"Victor Lagos","startTime":642.929,"endTime":645.539,"body":"know, their address history,"},{"speaker":"Victor Lagos","startTime":645.869,"endTime":649.709,"body":"their employment history, their"},{"speaker":"Victor Lagos","startTime":645.869,"endTime":649.709,"body":"assets, their liabilities, you"},{"speaker":"Victor Lagos","startTime":649.709,"endTime":652.799,"body":"know, a lot of liability stuff I"},{"speaker":"Victor Lagos","startTime":649.709,"endTime":652.799,"body":"can fill out for them based on"},{"speaker":"Victor Lagos","startTime":652.799,"endTime":655.619,"body":"the statements that they give"},{"speaker":"Victor Lagos","startTime":652.799,"endTime":655.619,"body":"me. But of course, I'm not going"},{"speaker":"Victor Lagos","startTime":655.619,"endTime":657.719,"body":"to know their assets, like, how"},{"speaker":"Victor Lagos","startTime":655.619,"endTime":657.719,"body":"much stupid do they have how"},{"speaker":"Victor Lagos","startTime":657.719,"endTime":662.039,"body":"much savings unless they give me"},{"speaker":"Victor Lagos","startTime":657.719,"endTime":662.039,"body":"the statement, you know, car"},{"speaker":"Victor Lagos","startTime":662.039,"endTime":665.039,"body":"values and things like that"},{"speaker":"Victor Lagos","startTime":662.039,"endTime":665.039,"body":"property values, I can get,"},{"speaker":"Victor Lagos","startTime":665.489,"endTime":667.979,"body":"obviously audit valuations and"},{"speaker":"Victor Lagos","startTime":665.489,"endTime":667.979,"body":"find out what the estimated"},{"speaker":"Victor Lagos","startTime":667.979,"endTime":671.249,"body":"value is. But that's a good way"},{"speaker":"Victor Lagos","startTime":667.979,"endTime":671.249,"body":"of doing it, they fill it out on"},{"speaker":"Victor Lagos","startTime":671.249,"endTime":674.759,"body":"the portal. And then at the end,"},{"speaker":"Victor Lagos","startTime":671.249,"endTime":674.759,"body":"they upload the documents"},{"speaker":"Victor Lagos","startTime":674.999,"endTime":679.109,"body":"customized to them. So I"},{"speaker":"Victor Lagos","startTime":674.999,"endTime":679.109,"body":"mentioned in a big list, based"},{"speaker":"Victor Lagos","startTime":679.109,"endTime":681.929,"body":"on if someone's self employed,"},{"speaker":"Victor Lagos","startTime":679.109,"endTime":681.929,"body":"or if there's a trust, but if"},{"speaker":"Victor Lagos","startTime":681.929,"endTime":684.599,"body":"they're PAYG, I'm not gonna ask"},{"speaker":"Victor Lagos","startTime":681.929,"endTime":684.599,"body":"for that stuff. You know, if"},{"speaker":"Victor Lagos","startTime":684.599,"endTime":687.029,"body":"they are self employed, I want"},{"speaker":"Victor Lagos","startTime":684.599,"endTime":687.029,"body":"to know, what are the companies"},{"speaker":"Victor Lagos","startTime":687.119,"endTime":689.339,"body":"that they trade under? And I'm"},{"speaker":"Victor Lagos","startTime":687.119,"endTime":689.339,"body":"gonna ask, you know, the"},{"speaker":"Victor Lagos","startTime":689.339,"endTime":691.259,"body":"financial statements for each of"},{"speaker":"Victor Lagos","startTime":689.339,"endTime":691.259,"body":"those entities?"},{"speaker":"Andrew Bean","startTime":692.22,"endTime":695.04,"body":"Yeah, because it's"},{"speaker":"Andrew Bean","startTime":692.22,"endTime":695.04,"body":"like, it's actually quite"},{"speaker":"Andrew Bean","startTime":695.04,"endTime":698.88,"body":"daunting, you know, trying to"},{"speaker":"Andrew Bean","startTime":695.04,"endTime":698.88,"body":"get finance sometimes,"},{"speaker":"Andrew Bean","startTime":698.88,"endTime":701.49,"body":"especially if you're not doing"},{"speaker":"Andrew Bean","startTime":698.88,"endTime":701.49,"body":"it through a mortgage broker."},{"speaker":"Andrew Bean","startTime":701.91,"endTime":705.09,"body":"Because you do a lot of the"},{"speaker":"Andrew Bean","startTime":701.91,"endTime":705.09,"body":"legwork for people as well, your"},{"speaker":"Andrew Bean","startTime":705.09,"endTime":709.08,"body":"customers. So like, you know,"},{"speaker":"Andrew Bean","startTime":705.09,"endTime":709.08,"body":"you'll get a list a shopping"},{"speaker":"Andrew Bean","startTime":709.08,"endTime":712.32,"body":"list from the bank, or whoever"},{"speaker":"Andrew Bean","startTime":709.08,"endTime":712.32,"body":"it is, and then they're like,"},{"speaker":"Andrew Bean","startTime":712.35,"endTime":715.53,"body":"Oh, we also need this, this,"},{"speaker":"Andrew Bean","startTime":712.35,"endTime":715.53,"body":"this and this. And like, it's"},{"speaker":"Andrew Bean","startTime":715.53,"endTime":718.59,"body":"happened to me a few times where"},{"speaker":"Andrew Bean","startTime":715.53,"endTime":718.59,"body":"like, you're like, geez, I don't"},{"speaker":"Andrew Bean","startTime":718.59,"endTime":721.14,"body":"think I have any more documents"},{"speaker":"Andrew Bean","startTime":718.59,"endTime":721.14,"body":"to give you I've just, you've"},{"speaker":"Andrew Bean","startTime":721.14,"endTime":723.36,"body":"got everything. There's"},{"speaker":"Andrew Bean","startTime":721.14,"endTime":723.36,"body":"absolutely no way but they're"},{"speaker":"Andrew Bean","startTime":723.36,"endTime":726.99,"body":"like, oh, no, we need you to do"},{"speaker":"Andrew Bean","startTime":723.36,"endTime":726.99,"body":"a 12 month forecast for the"},{"speaker":"Andrew Bean","startTime":726.99,"endTime":729.78,"body":"first use cash flow on this"},{"speaker":"Andrew Bean","startTime":726.99,"endTime":729.78,"body":"thing. And like, oh, my god,"},{"speaker":"Andrew Bean","startTime":729.96,"endTime":731.91,"body":"yeah, this is getting"},{"speaker":"Andrew Bean","startTime":729.96,"endTime":731.91,"body":"ridiculous. So it's for a"},{"speaker":"Andrew Bean","startTime":731.91,"endTime":733.05,"body":"business loan. So yeah,"},{"speaker":"Victor Lagos","startTime":733.05,"endTime":735.63,"body":"I was gonna say"},{"speaker":"Victor Lagos","startTime":733.05,"endTime":735.63,"body":"forecasting is usually if, if"},{"speaker":"Victor Lagos","startTime":735.63,"endTime":739.53,"body":"you're doing commercial loan,"},{"speaker":"Victor Lagos","startTime":735.63,"endTime":739.53,"body":"yeah, which can be beneficial. I"},{"speaker":"Victor Lagos","startTime":739.53,"endTime":743.13,"body":"did one recently for for"},{"speaker":"Victor Lagos","startTime":739.53,"endTime":743.13,"body":"customer that was buying a farm."},{"speaker":"Victor Lagos","startTime":743.7,"endTime":746.46,"body":"And he didn't have enough income"},{"speaker":"Victor Lagos","startTime":743.7,"endTime":746.46,"body":"to service the debt. It's a"},{"speaker":"Victor Lagos","startTime":746.46,"endTime":750.75,"body":"vacant land, right? So but he"},{"speaker":"Victor Lagos","startTime":746.46,"endTime":750.75,"body":"put together a cash flow"},{"speaker":"Victor Lagos","startTime":750.75,"endTime":755.13,"body":"forecast of, you know, buying"},{"speaker":"Victor Lagos","startTime":750.75,"endTime":755.13,"body":"cattle, and, you know, whatever"},{"speaker":"Victor Lagos","startTime":755.13,"endTime":758.58,"body":"the costs are to feed the cattle"},{"speaker":"Victor Lagos","startTime":755.13,"endTime":758.58,"body":"and, and whatnot. And then the"},{"speaker":"Victor Lagos","startTime":758.58,"endTime":762.99,"body":"bank used that income to service"},{"speaker":"Victor Lagos","startTime":758.58,"endTime":762.99,"body":"the future debt. And he got the"},{"speaker":"Victor Lagos","startTime":762.99,"endTime":765.96,"body":"loan. So you can't do that in"},{"speaker":"Victor Lagos","startTime":762.99,"endTime":765.96,"body":"residential, that won't go off"},{"speaker":"Victor Lagos","startTime":765.96,"endTime":766.74,"body":"projected income."},{"speaker":"Andrew Bean","startTime":767.01,"endTime":769.26,"body":"Yeah, that's right."},{"speaker":"Andrew Bean","startTime":767.01,"endTime":769.26,"body":"I mean, realistically, though,"},{"speaker":"Andrew Bean","startTime":769.26,"endTime":774.24,"body":"like, a forecast is just a"},{"speaker":"Andrew Bean","startTime":769.26,"endTime":774.24,"body":"forecast is never correct. Like,"},{"speaker":"Andrew Bean","startTime":774.3,"endTime":777.45,"body":"it's, it's never correct. Like,"},{"speaker":"Andrew Bean","startTime":774.3,"endTime":777.45,"body":"there's no way you can just"},{"speaker":"Andrew Bean","startTime":777.45,"endTime":780.84,"body":"forecast out, you know, how much"},{"speaker":"Andrew Bean","startTime":777.45,"endTime":780.84,"body":"you're going to like, especially"},{"speaker":"Andrew Bean","startTime":780.84,"endTime":784.56,"body":"if it's like a service business"},{"speaker":"Andrew Bean","startTime":780.84,"endTime":784.56,"body":"or like, you know, a business"},{"speaker":"Andrew Bean","startTime":784.56,"endTime":787.47,"body":"where there's some kind of"},{"speaker":"Andrew Bean","startTime":784.56,"endTime":787.47,"body":"churn, like to be able to"},{"speaker":"Andrew Bean","startTime":787.47,"endTime":791.28,"body":"predict the churn unless you"},{"speaker":"Andrew Bean","startTime":787.47,"endTime":791.28,"body":"already have a current site"},{"speaker":"Andrew Bean","startTime":791.31,"endTime":794.64,"body":"operating that you can use as a"},{"speaker":"Andrew Bean","startTime":791.31,"endTime":794.64,"body":"model. If you're going straight"},{"speaker":"Andrew Bean","startTime":794.64,"endTime":798.75,"body":"into it from you know, not"},{"speaker":"Andrew Bean","startTime":794.64,"endTime":798.75,"body":"knowing anything about like, the"},{"speaker":"Andrew Bean","startTime":798.75,"endTime":801.21,"body":"actual acquisition of the"},{"speaker":"Andrew Bean","startTime":798.75,"endTime":801.21,"body":"customer, how much is that going"},{"speaker":"Andrew Bean","startTime":801.21,"endTime":804.81,"body":"to cost? It's really hard to do"},{"speaker":"Andrew Bean","startTime":801.21,"endTime":804.81,"body":"a proper forecast, like the"},{"speaker":"Andrew Bean","startTime":804.81,"endTime":807.15,"body":"banks come back to me like, Oh,"},{"speaker":"Andrew Bean","startTime":804.81,"endTime":807.15,"body":"you've listed this and this is,"},{"speaker":"Andrew Bean","startTime":807.87,"endTime":810.42,"body":"what about this? And like, well,"},{"speaker":"Andrew Bean","startTime":807.87,"endTime":810.42,"body":"I feel like saying, like, look,"},{"speaker":"Andrew Bean","startTime":810.42,"endTime":812.58,"body":"it's just a forecast. Like,"},{"speaker":"Andrew Bean","startTime":810.42,"endTime":812.58,"body":"there's, there's absolutely no"},{"speaker":"Andrew Bean","startTime":812.58,"endTime":814.74,"body":"way it'll be like this, like,"},{"speaker":"Andrew Bean","startTime":812.58,"endTime":814.74,"body":"this is just what I think it"},{"speaker":"Andrew Bean","startTime":814.74,"endTime":817.59,"body":"will be. But it's absolutely no"},{"speaker":"Andrew Bean","startTime":814.74,"endTime":817.59,"body":"way it will be like this, and I"},{"speaker":"Andrew Bean","startTime":817.59,"endTime":818.61,"body":"hope the bank doesn't hear this"},{"speaker":"Victor Lagos","startTime":820.89,"endTime":823.89,"body":"thing, like you're"},{"speaker":"Victor Lagos","startTime":820.89,"endTime":823.89,"body":"asking them to fork out money,"},{"speaker":"Victor Lagos","startTime":823.89,"endTime":827.37,"body":"right? To help you devise"},{"speaker":"Victor Lagos","startTime":823.89,"endTime":827.37,"body":"something, so the more accurate"},{"speaker":"Victor Lagos","startTime":827.37,"endTime":829.8,"body":"you can be, and the more"},{"speaker":"Victor Lagos","startTime":827.37,"endTime":829.8,"body":"detailed you can be, the more it"},{"speaker":"Victor Lagos","startTime":829.8,"endTime":832.71,"body":"looks like you know what you're"},{"speaker":"Victor Lagos","startTime":829.8,"endTime":832.71,"body":"talking about. If it's very"},{"speaker":"Victor Lagos","startTime":832.71,"endTime":836.04,"body":"generic and basic, and you're"},{"speaker":"Victor Lagos","startTime":832.71,"endTime":836.04,"body":"asking to do a business venture"},{"speaker":"Victor Lagos","startTime":836.04,"endTime":839.61,"body":"that you don't have experience"},{"speaker":"Victor Lagos","startTime":836.04,"endTime":839.61,"body":"doing, it's very unlikely"},{"speaker":"Victor Lagos","startTime":839.61,"endTime":841.83,"body":"they're gonna lend you that"},{"speaker":"Victor Lagos","startTime":839.61,"endTime":841.83,"body":"money. But if you've if you've"},{"speaker":"Victor Lagos","startTime":841.83,"endTime":846.33,"body":"got history, doing something"},{"speaker":"Victor Lagos","startTime":841.83,"endTime":846.33,"body":"similar, or your partner with"},{"speaker":"Victor Lagos","startTime":846.33,"endTime":849.93,"body":"someone that has, and they can"},{"speaker":"Victor Lagos","startTime":846.33,"endTime":849.93,"body":"plug in numbers that are"},{"speaker":"Victor Lagos","startTime":850.32,"endTime":853.44,"body":"relatively realistic compared"},{"speaker":"Victor Lagos","startTime":850.32,"endTime":853.44,"body":"to, you know, a similar business"},{"speaker":"Victor Lagos","startTime":853.74,"endTime":857.61,"body":"operating in the past, then"},{"speaker":"Victor Lagos","startTime":853.74,"endTime":857.61,"body":"yeah, you're more likely to, you"},{"speaker":"Victor Lagos","startTime":857.61,"endTime":860.46,"body":"know, to get it approved, you"},{"speaker":"Victor Lagos","startTime":857.61,"endTime":860.46,"body":"got to remember that banks have"},{"speaker":"Victor Lagos","startTime":861.42,"endTime":865.05,"body":"specialists in certain"},{"speaker":"Victor Lagos","startTime":861.42,"endTime":865.05,"body":"industries. So they know how to"},{"speaker":"Victor Lagos","startTime":865.05,"endTime":869.49,"body":"benchmark. They know what to"},{"speaker":"Victor Lagos","startTime":865.05,"endTime":869.49,"body":"compare it to. So if you saying"},{"speaker":"Victor Lagos","startTime":869.49,"endTime":871.65,"body":"your expenses are going to be"},{"speaker":"Victor Lagos","startTime":869.49,"endTime":871.65,"body":"XML, I imagine it's going to be"},{"speaker":"Victor Lagos","startTime":871.65,"endTime":874.35,"body":"XML, and they they have all"},{"speaker":"Victor Lagos","startTime":871.65,"endTime":874.35,"body":"these other customers on their"},{"speaker":"Victor Lagos","startTime":874.35,"endTime":876.81,"body":"books that don't have those"},{"speaker":"Victor Lagos","startTime":874.35,"endTime":876.81,"body":"margins and have much higher"},{"speaker":"Victor Lagos","startTime":876.81,"endTime":882.39,"body":"expenses. Well, you know, who's,"},{"speaker":"Victor Lagos","startTime":876.81,"endTime":882.39,"body":"who's the one calling the shots?"},{"speaker":"Andrew Bean","startTime":883.02,"endTime":885.72,"body":"Yeah, well, it's,"},{"speaker":"Andrew Bean","startTime":883.02,"endTime":885.72,"body":"it seems that not many banks"},{"speaker":"Andrew Bean","startTime":885.72,"endTime":889.29,"body":"understand self storage. So"},{"speaker":"Andrew Bean","startTime":885.72,"endTime":889.29,"body":"that's where I'm coming from,"},{"speaker":"Andrew Bean","startTime":889.86,"endTime":893.94,"body":"you know, they just they,"},{"speaker":"Andrew Bean","startTime":889.86,"endTime":893.94,"body":"there's not enough, you know,"},{"speaker":"Andrew Bean","startTime":894.36,"endTime":897.39,"body":"exposure to that industry or"},{"speaker":"Andrew Bean","startTime":894.36,"endTime":897.39,"body":"something like that. They just"},{"speaker":"Andrew Bean","startTime":897.39,"endTime":901.17,"body":"don't understand it well, so"},{"speaker":"Andrew Bean","startTime":897.39,"endTime":901.17,"body":"they don't understand something"},{"speaker":"Andrew Bean","startTime":901.17,"endTime":905.55,"body":"they run away from it. So it's,"},{"speaker":"Andrew Bean","startTime":901.17,"endTime":905.55,"body":"it's, it is difficult to get"},{"speaker":"Andrew Bean","startTime":905.55,"endTime":907.71,"body":"financing on self storage."},{"speaker":"Victor Lagos","startTime":907.8,"endTime":910.14,"body":"Yeah, definitely."},{"speaker":"Victor Lagos","startTime":907.8,"endTime":910.14,"body":"Yeah, for that exact reason. And"},{"speaker":"Victor Lagos","startTime":910.14,"endTime":912.69,"body":"you got multiple leases as well,"},{"speaker":"Victor Lagos","startTime":910.14,"endTime":912.69,"body":"you know, like you said, you got"},{"speaker":"Victor Lagos","startTime":912.69,"endTime":915.06,"body":"done like the month leases"},{"speaker":"Victor Lagos","startTime":912.69,"endTime":915.06,"body":"dynamic pricing?"},{"speaker":"Andrew Bean","startTime":915.3,"endTime":917.43,"body":"Yeah, it's"},{"speaker":"Andrew Bean","startTime":915.3,"endTime":917.43,"body":"difficult to really understand"},{"speaker":"Andrew Bean","startTime":917.43,"endTime":919.68,"body":"because you're gonna be trying"},{"speaker":"Andrew Bean","startTime":917.43,"endTime":919.68,"body":"to push the rates as hard as"},{"speaker":"Andrew Bean","startTime":919.68,"endTime":922.95,"body":"possible. But then you might go"},{"speaker":"Andrew Bean","startTime":919.68,"endTime":922.95,"body":"too far. And then you have to"},{"speaker":"Andrew Bean","startTime":922.95,"endTime":927.06,"body":"dial it back a bit. Like, it's a"},{"speaker":"Andrew Bean","startTime":922.95,"endTime":927.06,"body":"very, very dynamic cash flow, as"},{"speaker":"Andrew Bean","startTime":927.06,"endTime":930.78,"body":"you just said, like, like an"},{"speaker":"Andrew Bean","startTime":927.06,"endTime":930.78,"body":"airline, you know, like, prices"},{"speaker":"Andrew Bean","startTime":930.78,"endTime":934.62,"body":"are all different on seats on"},{"speaker":"Andrew Bean","startTime":930.78,"endTime":934.62,"body":"the plane. So it's, it is hard"},{"speaker":"Andrew Bean","startTime":934.62,"endTime":940.56,"body":"to predict, you know, a proper"},{"speaker":"Andrew Bean","startTime":934.62,"endTime":940.56,"body":"good, you know, cash flow. If"},{"speaker":"Andrew Bean","startTime":940.56,"endTime":944.13,"body":"you really want to be, you know,"},{"speaker":"Andrew Bean","startTime":940.56,"endTime":944.13,"body":"to the dollar, which you can. So"},{"speaker":"Andrew Bean","startTime":944.13,"endTime":946.62,"body":"I said, like a forecast, I can"},{"speaker":"Andrew Bean","startTime":944.13,"endTime":946.62,"body":"forecast anything you want I can"},{"speaker":"Andrew Bean","startTime":946.65,"endTime":949.29,"body":"I can tell you to, like, I can"},{"speaker":"Andrew Bean","startTime":946.65,"endTime":949.29,"body":"sit on my heart, I just want I"},{"speaker":"Andrew Bean","startTime":949.29,"endTime":952.26,"body":"think it'll be, but I'm pretty"},{"speaker":"Andrew Bean","startTime":949.29,"endTime":952.26,"body":"much guaranteeing you or won't"},{"speaker":"Andrew Bean","startTime":952.26,"endTime":952.59,"body":"be?"},{"speaker":"Victor Lagos","startTime":953.37,"endTime":956.64,"body":"Yep. Well, it all"},{"speaker":"Victor Lagos","startTime":953.37,"endTime":956.64,"body":"comes down to the risk that"},{"speaker":"Victor Lagos","startTime":956.64,"endTime":959.43,"body":"you're you're taking on? And"},{"speaker":"Victor Lagos","startTime":956.64,"endTime":959.43,"body":"what risk are you passing out to"},{"speaker":"Victor Lagos","startTime":959.43,"endTime":964.17,"body":"the bank? Because if you don't"},{"speaker":"Victor Lagos","startTime":959.43,"endTime":964.17,"body":"get that rent that you think"},{"speaker":"Victor Lagos","startTime":964.17,"endTime":966.3,"body":"you're going to receive, based"},{"speaker":"Victor Lagos","startTime":964.17,"endTime":966.3,"body":"on your projections or your"},{"speaker":"Victor Lagos","startTime":966.3,"endTime":971.22,"body":"forecast, then how are you going"},{"speaker":"Victor Lagos","startTime":966.3,"endTime":971.22,"body":"to cover the repayment? That's"},{"speaker":"Victor Lagos","startTime":971.22,"endTime":974.31,"body":"the thing you got to consider."},{"speaker":"Victor Lagos","startTime":971.22,"endTime":974.31,"body":"And if you've got enough surplus"},{"speaker":"Victor Lagos","startTime":974.31,"endTime":977.22,"body":"coming out from your other"},{"speaker":"Victor Lagos","startTime":974.31,"endTime":977.22,"body":"income streams, well, that's"},{"speaker":"Victor Lagos","startTime":977.22,"endTime":980.04,"body":"also mitigant. So you can"},{"speaker":"Victor Lagos","startTime":977.22,"endTime":980.04,"body":"provide to the bank and say,"},{"speaker":"Victor Lagos","startTime":980.04,"endTime":983.28,"body":"Well, you know, that can service"},{"speaker":"Victor Lagos","startTime":980.04,"endTime":983.28,"body":"the debt if the rent doesn't"},{"speaker":"Victor Lagos","startTime":983.31,"endTime":984.87,"body":"meet that, you know, estimate?"},{"speaker":"Andrew Bean","startTime":985.229,"endTime":987.929,"body":"Yeah, 100%. I mean,"},{"speaker":"Andrew Bean","startTime":985.229,"endTime":987.929,"body":"because this is, I'm getting"},{"speaker":"Andrew Bean","startTime":987.929,"endTime":992.879,"body":"bank financing for a raw site."},{"speaker":"Andrew Bean","startTime":987.929,"endTime":992.879,"body":"So there's no business there at"},{"speaker":"Andrew Bean","startTime":992.879,"endTime":996.149,"body":"the moment. It's just a raw"},{"speaker":"Andrew Bean","startTime":992.879,"endTime":996.149,"body":"site, like a development. So"},{"speaker":"Andrew Bean","startTime":996.149,"endTime":999.269,"body":"that's why it's, it's, they're"},{"speaker":"Andrew Bean","startTime":996.149,"endTime":999.269,"body":"more like, Okay, what's it going"},{"speaker":"Andrew Bean","startTime":999.269,"endTime":1002.239,"body":"to be? Can you forecast this, I"},{"speaker":"Andrew Bean","startTime":999.269,"endTime":1002.239,"body":"can't say this is what it is,"},{"speaker":"Andrew Bean","startTime":1002.239,"endTime":1006.139,"body":"I'm gonna start saying this is,"},{"speaker":"Andrew Bean","startTime":1002.239,"endTime":1006.139,"body":"you know, this, I'm saying, from"},{"speaker":"Andrew Bean","startTime":1006.169,"endTime":1009.259,"body":"the demand there, from how many"},{"speaker":"Andrew Bean","startTime":1006.169,"endTime":1009.259,"body":"units I can put on the actual"},{"speaker":"Andrew Bean","startTime":1009.259,"endTime":1013.249,"body":"site, this is what I should be"},{"speaker":"Andrew Bean","startTime":1009.259,"endTime":1013.249,"body":"able to get. And then there's"},{"speaker":"Andrew Bean","startTime":1013.249,"endTime":1018.199,"body":"also an aspect like, you know,"},{"speaker":"Andrew Bean","startTime":1013.249,"endTime":1018.199,"body":"caravan storage and boat"},{"speaker":"Andrew Bean","startTime":1018.199,"endTime":1021.709,"body":"storage. So it's like, it's,"},{"speaker":"Andrew Bean","startTime":1018.199,"endTime":1021.709,"body":"it's very unpredictable, I can't"},{"speaker":"Andrew Bean","startTime":1021.709,"endTime":1024.079,"body":"predict how many people are"},{"speaker":"Andrew Bean","startTime":1021.709,"endTime":1024.079,"body":"going to want to, you know,"},{"speaker":"Andrew Bean","startTime":1024.079,"endTime":1026.929,"body":"store their boat or caravan. So"},{"speaker":"Andrew Bean","startTime":1024.079,"endTime":1026.929,"body":"it's, it's super hard to predict"},{"speaker":"Andrew Bean","startTime":1026.929,"endTime":1028.939,"body":"those kinds of things for the"},{"speaker":"Andrew Bean","startTime":1026.929,"endTime":1028.939,"body":"banks. Well, this is where your"},{"speaker":"Andrew Bean","startTime":1028.939,"endTime":1033.829,"body":"CPE data comes in. Right? Well,"},{"speaker":"Andrew Bean","startTime":1028.939,"endTime":1033.829,"body":"so unfortunately, CPE data is"},{"speaker":"Andrew Bean","startTime":1033.829,"endTime":1038.449,"body":"only retail, office and"},{"speaker":"Andrew Bean","startTime":1033.829,"endTime":1038.449,"body":"industrial. So I can give you,"},{"speaker":"Andrew Bean","startTime":1038.869,"endTime":1042.049,"body":"you know, a great idea on"},{"speaker":"Andrew Bean","startTime":1038.869,"endTime":1042.049,"body":"industrial like being that self"},{"speaker":"Andrew Bean","startTime":1042.049,"endTime":1046.069,"body":"storage is part of the"},{"speaker":"Andrew Bean","startTime":1042.049,"endTime":1046.069,"body":"industrial family. But in terms"},{"speaker":"Andrew Bean","startTime":1046.069,"endTime":1050.449,"body":"of the market research that has"},{"speaker":"Andrew Bean","startTime":1046.069,"endTime":1050.449,"body":"to be done on a, like a base"},{"speaker":"Andrew Bean","startTime":1050.449,"endTime":1055.129,"body":"base by base basis, like, you"},{"speaker":"Andrew Bean","startTime":1050.449,"endTime":1055.129,"body":"know, case by case basis, where,"},{"speaker":"Andrew Bean","startTime":1055.159,"endTime":1058.489,"body":"you know, the demand student"},{"speaker":"Andrew Bean","startTime":1055.159,"endTime":1058.489,"body":"research study is literally"},{"speaker":"Andrew Bean","startTime":1058.489,"endTime":1061.549,"body":"like, has to be very current."},{"speaker":"Andrew Bean","startTime":1058.489,"endTime":1061.549,"body":"Otherwise, you know, you could"},{"speaker":"Andrew Bean","startTime":1061.549,"endTime":1063.859,"body":"be looking back like 12 months,"},{"speaker":"Andrew Bean","startTime":1061.549,"endTime":1063.859,"body":"and it's not really current,"},{"speaker":"Andrew Bean","startTime":1063.859,"endTime":1067.699,"body":"because the markets can change"},{"speaker":"Andrew Bean","startTime":1063.859,"endTime":1067.699,"body":"so much, which we're seeing now"},{"speaker":"Andrew Bean","startTime":1067.699,"endTime":1071.899,"body":"is self storage, there's like,"},{"speaker":"Andrew Bean","startTime":1067.699,"endTime":1071.899,"body":"usually right and all that for"},{"speaker":"Andrew Bean","startTime":1071.899,"endTime":1076.219,"body":"the last two years, it's been"},{"speaker":"Andrew Bean","startTime":1071.899,"endTime":1076.219,"body":"running at a very, very high"},{"speaker":"Andrew Bean","startTime":1076.219,"endTime":1080.569,"body":"occupancy, which is not normal,"},{"speaker":"Andrew Bean","startTime":1076.219,"endTime":1080.569,"body":"like 100% 98% occupancy,"},{"speaker":"Andrew Bean","startTime":1080.569,"endTime":1084.679,"body":"unusually, on average, self"},{"speaker":"Andrew Bean","startTime":1080.569,"endTime":1084.679,"body":"storage runs at about 81 to 85%."},{"speaker":"Andrew Bean","startTime":1084.679,"endTime":1088.639,"body":"And that's a good very good"},{"speaker":"Andrew Bean","startTime":1084.679,"endTime":1088.639,"body":"business. So things are kind of"},{"speaker":"Andrew Bean","startTime":1088.639,"endTime":1091.819,"body":"changing now, where, obviously,"},{"speaker":"Andrew Bean","startTime":1088.639,"endTime":1091.819,"body":"money is harder and people have"},{"speaker":"Andrew Bean","startTime":1091.819,"endTime":1094.219,"body":"had in an inflationary"},{"speaker":"Andrew Bean","startTime":1091.819,"endTime":1094.219,"body":"environment, so people are"},{"speaker":"Andrew Bean","startTime":1094.519,"endTime":1098.059,"body":"finding it harder to pay bills."},{"speaker":"Andrew Bean","startTime":1094.519,"endTime":1098.059,"body":"Yeah, for sure. That's why we"},{"speaker":"Andrew Bean","startTime":1098.059,"endTime":1102.559,"body":"started this series. That's it,"},{"speaker":"Andrew Bean","startTime":1098.059,"endTime":1102.559,"body":"man. So in terms of like, using"},{"speaker":"Andrew Bean","startTime":1102.559,"endTime":1106.159,"body":"your service, mate, I just"},{"speaker":"Andrew Bean","startTime":1102.559,"endTime":1106.159,"body":"wanted to kind of understand,"},{"speaker":"Andrew Bean","startTime":1106.549,"endTime":1109.939,"body":"when would you say was the best"},{"speaker":"Andrew Bean","startTime":1106.549,"endTime":1109.939,"body":"time to engage you? Is it when"},{"speaker":"Andrew Bean","startTime":1109.939,"endTime":1112.969,"body":"we already have a property that"},{"speaker":"Andrew Bean","startTime":1109.939,"endTime":1112.969,"body":"we've already had an offer"},{"speaker":"Andrew Bean","startTime":1112.969,"endTime":1119.119,"body":"accepted? Or can you help us"},{"speaker":"Andrew Bean","startTime":1112.969,"endTime":1119.119,"body":"with understanding, like, our"},{"speaker":"Andrew Bean","startTime":1119.119,"endTime":1122.359,"body":"actual capacity, what we can"},{"speaker":"Andrew Bean","startTime":1119.119,"endTime":1122.359,"body":"borrow, when should we engage"},{"speaker":"Andrew Bean","startTime":1122.359,"endTime":1125.539,"body":"you prior or after a contract is"},{"speaker":"Andrew Bean","startTime":1122.359,"endTime":1125.539,"body":"signed or accepted?"},{"speaker":"Victor Lagos","startTime":1126.38,"endTime":1129.02,"body":"sooner, the"},{"speaker":"Victor Lagos","startTime":1126.38,"endTime":1129.02,"body":"better. So if you've got an"},{"speaker":"Victor Lagos","startTime":1129.02,"endTime":1133.25,"body":"interest in buying a commercial"},{"speaker":"Victor Lagos","startTime":1129.02,"endTime":1133.25,"body":"property, and even a"},{"speaker":"Victor Lagos","startTime":1133.25,"endTime":1135.35,"body":"residential, but say it's"},{"speaker":"Victor Lagos","startTime":1133.25,"endTime":1135.35,"body":"commercial for because of your"},{"speaker":"Victor Lagos","startTime":1135.35,"endTime":1138.35,"body":"listeners, it's not as easy to"},{"speaker":"Victor Lagos","startTime":1135.35,"endTime":1138.35,"body":"work out your borrowing"},{"speaker":"Victor Lagos","startTime":1138.35,"endTime":1143.15,"body":"capacity, compared to"},{"speaker":"Victor Lagos","startTime":1138.35,"endTime":1143.15,"body":"residential property, because of"},{"speaker":"Victor Lagos","startTime":1143.15,"endTime":1145.94,"body":"the you know, the the rent that"},{"speaker":"Victor Lagos","startTime":1143.15,"endTime":1145.94,"body":"you're going to receive, right?"},{"speaker":"Victor Lagos","startTime":1145.94,"endTime":1149.03,"body":"What sort of yields you're going"},{"speaker":"Victor Lagos","startTime":1145.94,"endTime":1149.03,"body":"to put in there, the terms of"},{"speaker":"Victor Lagos","startTime":1149.03,"endTime":1153.23,"body":"the lease, and where's the"},{"speaker":"Victor Lagos","startTime":1149.03,"endTime":1153.23,"body":"deposit coming from? Nine times"},{"speaker":"Victor Lagos","startTime":1153.23,"endTime":1155.87,"body":"out of 10 people don't have"},{"speaker":"Victor Lagos","startTime":1153.23,"endTime":1155.87,"body":"access to the cash, they want to"},{"speaker":"Victor Lagos","startTime":1155.87,"endTime":1159.53,"body":"actually refinance, or extract"},{"speaker":"Victor Lagos","startTime":1155.87,"endTime":1159.53,"body":"the equity from their"},{"speaker":"Victor Lagos","startTime":1159.53,"endTime":1162.83,"body":"residential portfolio. So then"},{"speaker":"Victor Lagos","startTime":1159.53,"endTime":1162.83,"body":"you need to work out, well, I"},{"speaker":"Victor Lagos","startTime":1162.83,"endTime":1166.55,"body":"need to work out for them."},{"speaker":"Victor Lagos","startTime":1162.83,"endTime":1166.55,"body":"What's that going to look like?"},{"speaker":"Victor Lagos","startTime":1166.76,"endTime":1169.19,"body":"What's the interest rate going"},{"speaker":"Victor Lagos","startTime":1166.76,"endTime":1169.19,"body":"to look like? How much equity"},{"speaker":"Victor Lagos","startTime":1169.19,"endTime":1172.55,"body":"can they actually tap into? And"},{"speaker":"Victor Lagos","startTime":1169.19,"endTime":1172.55,"body":"where's the rest of the money"},{"speaker":"Victor Lagos","startTime":1172.55,"endTime":1175.28,"body":"coming from, if that's all the"},{"speaker":"Victor Lagos","startTime":1172.55,"endTime":1175.28,"body":"money that can get and it's not"},{"speaker":"Victor Lagos","startTime":1175.28,"endTime":1179.18,"body":"just an exercise of borrowing"},{"speaker":"Victor Lagos","startTime":1175.28,"endTime":1179.18,"body":"capacity, it's also who's going"},{"speaker":"Victor Lagos","startTime":1179.18,"endTime":1182.33,"body":"to give you the highest"},{"speaker":"Victor Lagos","startTime":1179.18,"endTime":1182.33,"body":"valuation on your properties to"},{"speaker":"Victor Lagos","startTime":1182.33,"endTime":1185.75,"body":"get you the most equity, which"},{"speaker":"Victor Lagos","startTime":1182.33,"endTime":1185.75,"body":"will then translate into a"},{"speaker":"Victor Lagos","startTime":1185.75,"endTime":1188.93,"body":"larger contribution and then"},{"speaker":"Victor Lagos","startTime":1185.75,"endTime":1188.93,"body":"translate to potentially a"},{"speaker":"Victor Lagos","startTime":1188.93,"endTime":1192.38,"body":"larger purchase price. So then I"},{"speaker":"Victor Lagos","startTime":1188.93,"endTime":1192.38,"body":"put all those numbers in you"},{"speaker":"Victor Lagos","startTime":1192.38,"endTime":1196.67,"body":"know, I put it into you know,"},{"speaker":"Victor Lagos","startTime":1192.38,"endTime":1196.67,"body":"commercial property"},{"speaker":"Victor Lagos","startTime":1196.82,"endTime":1200.48,"body":"serviceability calculator,"},{"speaker":"Victor Lagos","startTime":1196.82,"endTime":1200.48,"body":"residential for the for or the"},{"speaker":"Victor Lagos","startTime":1200.51,"endTime":1205.31,"body":"for the equity or the"},{"speaker":"Victor Lagos","startTime":1200.51,"endTime":1205.31,"body":"valuations. And then I send out"},{"speaker":"Victor Lagos","startTime":1205.34,"endTime":1210.29,"body":"a basically a funding worksheet,"},{"speaker":"Victor Lagos","startTime":1205.34,"endTime":1210.29,"body":"which shows the maximum price"},{"speaker":"Victor Lagos","startTime":1210.29,"endTime":1215.84,"body":"that can buy up to all the costs"},{"speaker":"Victor Lagos","startTime":1210.29,"endTime":1215.84,"body":"involved. And what's the loan"},{"speaker":"Victor Lagos","startTime":1215.84,"endTime":1218.78,"body":"amount, and then I even put an"},{"speaker":"Victor Lagos","startTime":1215.84,"endTime":1218.78,"body":"estimated ROI. All right,"},{"speaker":"Victor Lagos","startTime":1218.78,"endTime":1222.05,"body":"assuming, say, a 6%. Net yield,"},{"speaker":"Victor Lagos","startTime":1218.78,"endTime":1222.05,"body":"which is, you know, somewhat"},{"speaker":"Victor Lagos","startTime":1222.05,"endTime":1224.99,"body":"conservative. And I even put in,"},{"speaker":"Victor Lagos","startTime":1222.05,"endTime":1224.99,"body":"you know, a buyer's agent fee."},{"speaker":"Victor Lagos","startTime":1224.99,"endTime":1227.12,"body":"And if they want to use a"},{"speaker":"Victor Lagos","startTime":1224.99,"endTime":1227.12,"body":"commercial buyer's agent as"},{"speaker":"Victor Lagos","startTime":1227.12,"endTime":1230.24,"body":"well. So there's no surprises,"},{"speaker":"Victor Lagos","startTime":1227.12,"endTime":1230.24,"body":"right? With residential, you"},{"speaker":"Victor Lagos","startTime":1230.24,"endTime":1234.02,"body":"know, you can get a loan with no"},{"speaker":"Victor Lagos","startTime":1230.24,"endTime":1234.02,"body":"fees and bank covers evaluation."},{"speaker":"Victor Lagos","startTime":1235.58,"endTime":1238.91,"body":"All you pay is basically title"},{"speaker":"Victor Lagos","startTime":1235.58,"endTime":1238.91,"body":"registration fees. Whereas"},{"speaker":"Victor Lagos","startTime":1238.91,"endTime":1241.34,"body":"commercial, when you have to pay"},{"speaker":"Victor Lagos","startTime":1238.91,"endTime":1241.34,"body":"for the valuation upfront,"},{"speaker":"Victor Lagos","startTime":1241.82,"endTime":1245.99,"body":"right, you definitely want to do"},{"speaker":"Victor Lagos","startTime":1241.82,"endTime":1245.99,"body":"building rapport. There's lender"},{"speaker":"Victor Lagos","startTime":1245.99,"endTime":1249.35,"body":"application fees, or"},{"speaker":"Victor Lagos","startTime":1245.99,"endTime":1249.35,"body":"establishment fees, and that"},{"speaker":"Victor Lagos","startTime":1249.35,"endTime":1253.7,"body":"ranges. And then, of course, I"},{"speaker":"Victor Lagos","startTime":1249.35,"endTime":1253.7,"body":"mentioned the buyer's agent. So"},{"speaker":"Victor Lagos","startTime":1253.7,"endTime":1257.09,"body":"all these costs, you wouldn't"},{"speaker":"Victor Lagos","startTime":1253.7,"endTime":1257.09,"body":"have or think about. So that's"},{"speaker":"Victor Lagos","startTime":1257.09,"endTime":1260.09,"body":"where I come in, I work out the"},{"speaker":"Victor Lagos","startTime":1257.09,"endTime":1260.09,"body":"numbers, and then based on that,"},{"speaker":"Victor Lagos","startTime":1260.09,"endTime":1264.74,"body":"you can start working toward"},{"speaker":"Victor Lagos","startTime":1260.09,"endTime":1264.74,"body":"finding the right property. And"},{"speaker":"Victor Lagos","startTime":1264.74,"endTime":1268.34,"body":"then, you know, there's no pre"},{"speaker":"Victor Lagos","startTime":1264.74,"endTime":1268.34,"body":"approval as such, because it's"},{"speaker":"Victor Lagos","startTime":1268.34,"endTime":1270.47,"body":"really comes down to the"},{"speaker":"Victor Lagos","startTime":1268.34,"endTime":1270.47,"body":"property, we might put an"},{"speaker":"Victor Lagos","startTime":1270.47,"endTime":1275.33,"body":"estimate for, say, 6%. Net"},{"speaker":"Victor Lagos","startTime":1270.47,"endTime":1275.33,"body":"yield. And then you go and find"},{"speaker":"Victor Lagos","startTime":1275.33,"endTime":1279.08,"body":"something, it's only 5%. But you"},{"speaker":"Victor Lagos","startTime":1275.33,"endTime":1279.08,"body":"really like it, all of a sudden"},{"speaker":"Victor Lagos","startTime":1279.08,"endTime":1282.62,"body":"that pre approval, if we had one"},{"speaker":"Victor Lagos","startTime":1279.08,"endTime":1282.62,"body":"doesn't count anymore. So we"},{"speaker":"Victor Lagos","startTime":1282.62,"endTime":1287.87,"body":"need to rerun the numbers. Yep."},{"speaker":"Victor Lagos","startTime":1282.62,"endTime":1287.87,"body":"And then the equity, because the"},{"speaker":"Victor Lagos","startTime":1287.87,"endTime":1290.63,"body":"rates are moving, we need to"},{"speaker":"Victor Lagos","startTime":1287.87,"endTime":1290.63,"body":"sort of look at what are the"},{"speaker":"Victor Lagos","startTime":1290.63,"endTime":1293.96,"body":"interest rates on that day. And"},{"speaker":"Victor Lagos","startTime":1290.63,"endTime":1293.96,"body":"then obviously, let's look at it"},{"speaker":"Victor Lagos","startTime":1293.99,"endTime":1297.2,"body":"next few months, and then redo"},{"speaker":"Victor Lagos","startTime":1293.99,"endTime":1297.2,"body":"the numbers. But the good thing"},{"speaker":"Victor Lagos","startTime":1297.2,"endTime":1303.02,"body":"about commercial property is,"},{"speaker":"Victor Lagos","startTime":1297.2,"endTime":1303.02,"body":"you can usually put a clause in"},{"speaker":"Victor Lagos","startTime":1303.02,"endTime":1307.01,"body":"your contract that says it's"},{"speaker":"Victor Lagos","startTime":1303.02,"endTime":1307.01,"body":"subject to finance, or give you"},{"speaker":"Victor Lagos","startTime":1307.04,"endTime":1310.58,"body":"a finance clause, as well as the"},{"speaker":"Victor Lagos","startTime":1307.04,"endTime":1310.58,"body":"due diligence clause. So gives"},{"speaker":"Victor Lagos","startTime":1310.58,"endTime":1313.13,"body":"you time to actually get out of"},{"speaker":"Victor Lagos","startTime":1310.58,"endTime":1313.13,"body":"the contract, if you need to."},{"speaker":"Victor Lagos","startTime":1314.06,"endTime":1318.17,"body":"Residential, you know, people,"},{"speaker":"Victor Lagos","startTime":1314.06,"endTime":1318.17,"body":"they waive the cooling off"},{"speaker":"Victor Lagos","startTime":1318.17,"endTime":1321.35,"body":"period, and then they ended up"},{"speaker":"Victor Lagos","startTime":1318.17,"endTime":1321.35,"body":"committing to a contract and"},{"speaker":"Victor Lagos","startTime":1321.35,"endTime":1323.36,"body":"they running around trying to"},{"speaker":"Victor Lagos","startTime":1321.35,"endTime":1323.36,"body":"get the finance. With"},{"speaker":"Victor Lagos","startTime":1323.36,"endTime":1326.21,"body":"commercial. It's a high risk"},{"speaker":"Victor Lagos","startTime":1323.36,"endTime":1326.21,"body":"game. You don't want to do that."},{"speaker":"Andrew Bean","startTime":1326.66,"endTime":1329.69,"body":"Yes, right. So if"},{"speaker":"Andrew Bean","startTime":1326.66,"endTime":1329.69,"body":"you guys haven't checked out"},{"speaker":"Andrew Bean","startTime":1330.5,"endTime":1335.96,"body":"Victor's website, he does have a"},{"speaker":"Andrew Bean","startTime":1330.5,"endTime":1335.96,"body":"really, really awesome suite of"},{"speaker":"Andrew Bean","startTime":1336.38,"endTime":1339.56,"body":"calculators that he's talking"},{"speaker":"Andrew Bean","startTime":1336.38,"endTime":1339.56,"body":"about, I think you'd probably"},{"speaker":"Andrew Bean","startTime":1339.56,"endTime":1342.95,"body":"use your own more, more detailed"},{"speaker":"Andrew Bean","startTime":1339.56,"endTime":1342.95,"body":"calculators as well. But you"},{"speaker":"Andrew Bean","startTime":1342.95,"endTime":1347.24,"body":"have a really cool section on"},{"speaker":"Andrew Bean","startTime":1342.95,"endTime":1347.24,"body":"your website where you can play"},{"speaker":"Andrew Bean","startTime":1347.24,"endTime":1349.61,"body":"with all the numbers in lots of"},{"speaker":"Andrew Bean","startTime":1347.24,"endTime":1349.61,"body":"different calculators to see"},{"speaker":"Andrew Bean","startTime":1349.61,"endTime":1351.32,"body":"your serviceability and things"},{"speaker":"Andrew Bean","startTime":1349.61,"endTime":1351.32,"body":"like that."},{"speaker":"Victor Lagos","startTime":1351.47,"endTime":1353.72,"body":"Yes, definitely"},{"speaker":"Victor Lagos","startTime":1351.47,"endTime":1353.72,"body":"helpful, especially for stamp"},{"speaker":"Victor Lagos","startTime":1353.72,"endTime":1356.87,"body":"duty. Because different states"},{"speaker":"Victor Lagos","startTime":1353.72,"endTime":1356.87,"body":"have got different stamp duty."},{"speaker":"Victor Lagos","startTime":1357.23,"endTime":1359.78,"body":"Yeah, and for commercial"},{"speaker":"Victor Lagos","startTime":1357.23,"endTime":1359.78,"body":"property, and in correct me if"},{"speaker":"Victor Lagos","startTime":1359.78,"endTime":1363.77,"body":"I'm wrong, South Australia, and"},{"speaker":"Victor Lagos","startTime":1359.78,"endTime":1363.77,"body":"Canberra, there's no stamp duty,"},{"speaker":"Victor Lagos","startTime":1363.86,"endTime":1364.85,"body":"zero stamp duty."},{"speaker":"Andrew Bean","startTime":1364.85,"endTime":1365.75,"body":"It's a beautiful"},{"speaker":"Andrew Bean","startTime":1364.85,"endTime":1365.75,"body":"thing."},{"speaker":"Victor Lagos","startTime":1365.87,"endTime":1368.24,"body":"Yeah. That's the"},{"speaker":"Victor Lagos","startTime":1365.87,"endTime":1368.24,"body":"only commercial not residential,"},{"speaker":"Victor Lagos","startTime":1368.24,"endTime":1371.21,"body":"sir. Yeah, that's right. So, of"},{"speaker":"Victor Lagos","startTime":1368.24,"endTime":1371.21,"body":"course, if you're going to buy"},{"speaker":"Victor Lagos","startTime":1371.21,"endTime":1374.63,"body":"then, you know, you're very hell"},{"speaker":"Victor Lagos","startTime":1371.21,"endTime":1374.63,"body":"bent on buying these areas. And"},{"speaker":"Victor Lagos","startTime":1374.63,"endTime":1377.45,"body":"we can run the numbers there, if"},{"speaker":"Victor Lagos","startTime":1374.63,"endTime":1377.45,"body":"you don't have as much cash."},{"speaker":"Andrew Bean","startTime":1377.84,"endTime":1381.41,"body":"Yeah, and I don't"},{"speaker":"Andrew Bean","startTime":1377.84,"endTime":1381.41,"body":"know if people actively know"},{"speaker":"Andrew Bean","startTime":1381.41,"endTime":1386.51,"body":"this. But if you do engage"},{"speaker":"Andrew Bean","startTime":1381.41,"endTime":1386.51,"body":"Victor, early on in your in your"},{"speaker":"Andrew Bean","startTime":1386.51,"endTime":1391.22,"body":"game, he actually like mortgage"},{"speaker":"Andrew Bean","startTime":1386.51,"endTime":1391.22,"body":"brokers don't charge anything"},{"speaker":"Andrew Bean","startTime":1391.25,"endTime":1395.45,"body":"until they actually get you a"},{"speaker":"Andrew Bean","startTime":1391.25,"endTime":1395.45,"body":"loan. So I'm not trying to say"},{"speaker":"Andrew Bean","startTime":1395.45,"endTime":1399.23,"body":"go and get Victor to do stuff"},{"speaker":"Andrew Bean","startTime":1395.45,"endTime":1399.23,"body":"for free. But he will do it for"},{"speaker":"Andrew Bean","startTime":1399.23,"endTime":1400.7,"body":"free until he gets you alone."},{"speaker":"Victor Lagos","startTime":1403.61,"endTime":1406.97,"body":"Yeah, it's, it can"},{"speaker":"Victor Lagos","startTime":1403.61,"endTime":1406.97,"body":"be a bit of work, of course."},{"speaker":"Victor Lagos","startTime":1407.51,"endTime":1410.03,"body":"It's important work. Yeah, it's"},{"speaker":"Victor Lagos","startTime":1407.51,"endTime":1410.03,"body":"important to work with the right"},{"speaker":"Victor Lagos","startTime":1410.03,"endTime":1413.66,"body":"people. So, you know, if the"},{"speaker":"Victor Lagos","startTime":1410.03,"endTime":1413.66,"body":"numbers stack up, and you know,"},{"speaker":"Victor Lagos","startTime":1413.66,"endTime":1418.34,"body":"we gel well together, you know"},{"speaker":"Victor Lagos","startTime":1413.66,"endTime":1418.34,"body":"that we were the right fit, then"},{"speaker":"Victor Lagos","startTime":1418.43,"endTime":1421.7,"body":"it's just a matter of staying in"},{"speaker":"Victor Lagos","startTime":1418.43,"endTime":1421.7,"body":"contact. And when the time is"},{"speaker":"Victor Lagos","startTime":1421.7,"endTime":1423.95,"body":"right, when it's time to"},{"speaker":"Victor Lagos","startTime":1421.7,"endTime":1423.95,"body":"actually buy the right property?"},{"speaker":"Victor Lagos","startTime":1423.98,"endTime":1426.86,"body":"Yes, I'll get paid when the loan"},{"speaker":"Victor Lagos","startTime":1423.98,"endTime":1426.86,"body":"settles, usually a month after."},{"speaker":"Victor Lagos","startTime":1427.25,"endTime":1431.03,"body":"So from initial conversation and"},{"speaker":"Victor Lagos","startTime":1427.25,"endTime":1431.03,"body":"running numbers, you know, for"},{"speaker":"Victor Lagos","startTime":1431.03,"endTime":1433.31,"body":"me, payday may not be for, you"},{"speaker":"Victor Lagos","startTime":1431.03,"endTime":1433.31,"body":"know, six months?"},{"speaker":"Andrew Bean","startTime":1433.61,"endTime":1436.28,"body":"Yeah, it's a long"},{"speaker":"Andrew Bean","startTime":1433.61,"endTime":1436.28,"body":"time to wait. So do you? Are you"},{"speaker":"Andrew Bean","startTime":1436.28,"endTime":1439.34,"body":"selective with your clients?"},{"speaker":"Andrew Bean","startTime":1436.28,"endTime":1439.34,"body":"There's a selection process here"},{"speaker":"Andrew Bean","startTime":1439.34,"endTime":1441.62,"body":"I'm hearing. Well, it all"},{"speaker":"Victor Lagos","startTime":1441.62,"endTime":1445.07,"body":"comes down to if"},{"speaker":"Victor Lagos","startTime":1441.62,"endTime":1445.07,"body":"you qualify or not. So I try to"},{"speaker":"Victor Lagos","startTime":1445.07,"endTime":1448.67,"body":"help anyone I speak to, and I'll"},{"speaker":"Victor Lagos","startTime":1445.07,"endTime":1448.67,"body":"be frank with, with my customers"},{"speaker":"Victor Lagos","startTime":1448.67,"endTime":1452.03,"body":"or potential customers that if"},{"speaker":"Victor Lagos","startTime":1448.67,"endTime":1452.03,"body":"if they don't service the debt,"},{"speaker":"Victor Lagos","startTime":1452.03,"endTime":1455.15,"body":"or if their idea of what's"},{"speaker":"Victor Lagos","startTime":1452.03,"endTime":1455.15,"body":"possible, versus what actually"},{"speaker":"Victor Lagos","startTime":1455.15,"endTime":1458.9,"body":"is possible is the big"},{"speaker":"Victor Lagos","startTime":1455.15,"endTime":1458.9,"body":"disparity, I'll send them the"},{"speaker":"Victor Lagos","startTime":1458.9,"endTime":1461.45,"body":"numbers of what is and if it's"},{"speaker":"Victor Lagos","startTime":1458.9,"endTime":1461.45,"body":"not, I'll just tell them, Look,"},{"speaker":"Victor Lagos","startTime":1461.48,"endTime":1464.09,"body":"you're not in a position to buy"},{"speaker":"Victor Lagos","startTime":1461.48,"endTime":1464.09,"body":"property right now. You need"},{"speaker":"Victor Lagos","startTime":1464.09,"endTime":1468.14,"body":"more income, or you need a"},{"speaker":"Victor Lagos","startTime":1464.09,"endTime":1468.14,"body":"larger deposit. And I'll show"},{"speaker":"Victor Lagos","startTime":1468.14,"endTime":1472.28,"body":"them if you were to achieve your"},{"speaker":"Victor Lagos","startTime":1468.14,"endTime":1472.28,"body":"goal, which is to say buy, you"},{"speaker":"Victor Lagos","startTime":1472.28,"endTime":1475.76,"body":"know, 800,000 other commercial"},{"speaker":"Victor Lagos","startTime":1472.28,"endTime":1475.76,"body":"property, this is what you need."},{"speaker":"Victor Lagos","startTime":1476.3,"endTime":1479.21,"body":"So then, you know, when it comes"},{"speaker":"Victor Lagos","startTime":1476.3,"endTime":1479.21,"body":"to saving, and you know, putting"},{"speaker":"Victor Lagos","startTime":1479.21,"endTime":1482.6,"body":"money aside or selling"},{"speaker":"Victor Lagos","startTime":1479.21,"endTime":1482.6,"body":"residential property first, at"},{"speaker":"Victor Lagos","startTime":1482.6,"endTime":1485.99,"body":"least they have a game plan,"},{"speaker":"Victor Lagos","startTime":1482.6,"endTime":1485.99,"body":"right, what they need, what they"},{"speaker":"Victor Lagos","startTime":1485.99,"endTime":1488.66,"body":"need to do to achieve that"},{"speaker":"Victor Lagos","startTime":1485.99,"endTime":1488.66,"body":"particular goal. But I won't"},{"speaker":"Victor Lagos","startTime":1488.66,"endTime":1491.24,"body":"just send someone away because,"},{"speaker":"Victor Lagos","startTime":1488.66,"endTime":1491.24,"body":"you know, they're not earning"},{"speaker":"Victor Lagos","startTime":1491.24,"endTime":1491.96,"body":"enough or whatnot."},{"speaker":"Andrew Bean","startTime":1492.68,"endTime":1494.87,"body":"Yeah, fair enough."},{"speaker":"Andrew Bean","startTime":1492.68,"endTime":1494.87,"body":"And I think one of the best"},{"speaker":"Andrew Bean","startTime":1494.87,"endTime":1497.99,"body":"things about going through a"},{"speaker":"Andrew Bean","startTime":1494.87,"endTime":1497.99,"body":"mortgage broker to is not only"},{"speaker":"Andrew Bean","startTime":1497.99,"endTime":1500.57,"body":"that it doesn't doesn't cost you"},{"speaker":"Andrew Bean","startTime":1497.99,"endTime":1500.57,"body":"any money straight away. But"},{"speaker":"Andrew Bean","startTime":1500.57,"endTime":1503.87,"body":"they really are a guiding hand"},{"speaker":"Andrew Bean","startTime":1500.57,"endTime":1503.87,"body":"for you. And they do a lot of"},{"speaker":"Andrew Bean","startTime":1503.87,"endTime":1507.35,"body":"the legwork, like you know, your"},{"speaker":"Andrew Bean","startTime":1503.87,"endTime":1507.35,"body":"fact find you transfer all that"},{"speaker":"Andrew Bean","startTime":1507.35,"endTime":1512.39,"body":"information into the like banks,"},{"speaker":"Andrew Bean","startTime":1507.35,"endTime":1512.39,"body":"application forms, don't you"},{"speaker":"Andrew Bean","startTime":1512.39,"endTime":1515.9,"body":"don't give it back to the client"},{"speaker":"Andrew Bean","startTime":1512.39,"endTime":1515.9,"body":"to do that themselves."},{"speaker":"Victor Lagos","startTime":1516.11,"endTime":1519.14,"body":"Yeah, exactly. So"},{"speaker":"Victor Lagos","startTime":1516.11,"endTime":1519.14,"body":"they fill out their part. And"},{"speaker":"Victor Lagos","startTime":1519.14,"endTime":1523.73,"body":"then I, you know, I work with"},{"speaker":"Victor Lagos","startTime":1519.14,"endTime":1523.73,"body":"those with those data points,"},{"speaker":"Victor Lagos","startTime":1523.88,"endTime":1529.07,"body":"and then that then trends, maps"},{"speaker":"Victor Lagos","startTime":1523.88,"endTime":1529.07,"body":"across into another platform,"},{"speaker":"Victor Lagos","startTime":1529.34,"endTime":1532.82,"body":"which then allows me to go to"},{"speaker":"Victor Lagos","startTime":1529.34,"endTime":1532.82,"body":"multiple banks. So we might go"},{"speaker":"Victor Lagos","startTime":1532.82,"endTime":1536.24,"body":"to one. But for whatever reason,"},{"speaker":"Victor Lagos","startTime":1532.82,"endTime":1536.24,"body":"that bank, you know, doesn't"},{"speaker":"Victor Lagos","startTime":1536.24,"endTime":1540.86,"body":"want to prove the loan, you can"},{"speaker":"Victor Lagos","startTime":1536.24,"endTime":1540.86,"body":"easily Cloner or duplicate that"},{"speaker":"Victor Lagos","startTime":1540.86,"endTime":1544.97,"body":"same data, and then get another"},{"speaker":"Victor Lagos","startTime":1540.86,"endTime":1544.97,"body":"lender application form. So you"},{"speaker":"Victor Lagos","startTime":1544.97,"endTime":1547.79,"body":"don't have to constantly, you"},{"speaker":"Victor Lagos","startTime":1544.97,"endTime":1547.79,"body":"know, provide the same data over"},{"speaker":"Victor Lagos","startTime":1547.79,"endTime":1551.42,"body":"and over. For commercial stuff,"},{"speaker":"Victor Lagos","startTime":1547.79,"endTime":1551.42,"body":"it depends on the lender, some"},{"speaker":"Victor Lagos","startTime":1551.42,"endTime":1554.57,"body":"don't have the online portal"},{"speaker":"Victor Lagos","startTime":1551.42,"endTime":1554.57,"body":"stuff set up. So it's still a"},{"speaker":"Victor Lagos","startTime":1554.57,"endTime":1558.02,"body":"manual application. But I tried"},{"speaker":"Victor Lagos","startTime":1554.57,"endTime":1558.02,"body":"to fill that out for my"},{"speaker":"Victor Lagos","startTime":1558.02,"endTime":1561.23,"body":"customers, you know, my support"},{"speaker":"Victor Lagos","startTime":1558.02,"endTime":1561.23,"body":"team will, will do that, they'll"},{"speaker":"Victor Lagos","startTime":1561.23,"endTime":1565.07,"body":"get data from the fact fine, put"},{"speaker":"Victor Lagos","startTime":1561.23,"endTime":1565.07,"body":"it onto the application form"},{"speaker":"Victor Lagos","startTime":1565.85,"endTime":1569.12,"body":"correctly, and send it out to"},{"speaker":"Victor Lagos","startTime":1565.85,"endTime":1569.12,"body":"the customer sign. And I usually"},{"speaker":"Victor Lagos","startTime":1569.12,"endTime":1572.9,"body":"try to get it signed by esign,"},{"speaker":"Victor Lagos","startTime":1569.12,"endTime":1572.9,"body":"if possible, as well, commercial"},{"speaker":"Victor Lagos","startTime":1572.99,"endTime":1577.4,"body":"sometimes has to be printed with"},{"speaker":"Victor Lagos","startTime":1572.99,"endTime":1577.4,"body":"signature, but you know, where I"},{"speaker":"Victor Lagos","startTime":1577.4,"endTime":1579.68,"body":"can get it signed"},{"speaker":"Victor Lagos","startTime":1577.4,"endTime":1579.68,"body":"electronically, it saves"},{"speaker":"Victor Lagos","startTime":1579.68,"endTime":1581.03,"body":"everyone a lot of time. Yeah. So"},{"speaker":"Andrew Bean","startTime":1581.3,"endTime":1584.03,"body":"realistically, if"},{"speaker":"Andrew Bean","startTime":1581.3,"endTime":1584.03,"body":"you don't want to be as hands"},{"speaker":"Andrew Bean","startTime":1584.03,"endTime":1587.6,"body":"on, it's a no brainer to"},{"speaker":"Andrew Bean","startTime":1584.03,"endTime":1587.6,"body":"actually go through a mortgage"},{"speaker":"Andrew Bean","startTime":1587.6,"endTime":1590.75,"body":"broker, because it's one doesn't"},{"speaker":"Andrew Bean","startTime":1587.6,"endTime":1590.75,"body":"cost you anything. And two, they"},{"speaker":"Andrew Bean","startTime":1590.75,"endTime":1594.32,"body":"make it easier for you three,"},{"speaker":"Andrew Bean","startTime":1590.75,"endTime":1594.32,"body":"they actually give you a helping"},{"speaker":"Andrew Bean","startTime":1594.32,"endTime":1597.35,"body":"hand assessing you and making"},{"speaker":"Andrew Bean","startTime":1594.32,"endTime":1597.35,"body":"sure that you are qualified to"},{"speaker":"Andrew Bean","startTime":1597.35,"endTime":1601.28,"body":"do what you want to do. So"},{"speaker":"Andrew Bean","startTime":1597.35,"endTime":1601.28,"body":"there's really no reason to like"},{"speaker":"Andrew Bean","startTime":1601.31,"endTime":1604.07,"body":"go straight to the bank. Because"},{"speaker":"Andrew Bean","startTime":1601.31,"endTime":1604.07,"body":"if you're going straight to the"},{"speaker":"Andrew Bean","startTime":1604.07,"endTime":1607.61,"body":"bank, you're just anyone walking"},{"speaker":"Andrew Bean","startTime":1604.07,"endTime":1607.61,"body":"to the door, and you're getting"},{"speaker":"Andrew Bean","startTime":1607.61,"endTime":1611.75,"body":"the, you know, basic product"},{"speaker":"Andrew Bean","startTime":1607.61,"endTime":1611.75,"body":"that everyone can get. But you"},{"speaker":"Andrew Bean","startTime":1611.75,"endTime":1616.76,"body":"know, mortgage brokers like"},{"speaker":"Andrew Bean","startTime":1611.75,"endTime":1616.76,"body":"Victor have access to the, you"},{"speaker":"Andrew Bean","startTime":1616.76,"endTime":1620.39,"body":"know, best lending products that"},{"speaker":"Andrew Bean","startTime":1616.76,"endTime":1620.39,"body":"you might not know about, you"},{"speaker":"Andrew Bean","startTime":1620.39,"endTime":1623.81,"body":"know, he has access to different"},{"speaker":"Andrew Bean","startTime":1620.39,"endTime":1623.81,"body":"things that are, you know,"},{"speaker":"Andrew Bean","startTime":1623.9,"endTime":1627.05,"body":"potentially not available to the"},{"speaker":"Andrew Bean","startTime":1623.9,"endTime":1627.05,"body":"walking, you know, customers,"},{"speaker":"Andrew Bean","startTime":1627.17,"endTime":1630.02,"body":"and he can go to any single"},{"speaker":"Andrew Bean","startTime":1627.17,"endTime":1630.02,"body":"bank, you know, not just one"},{"speaker":"Andrew Bean","startTime":1630.02,"endTime":1631.97,"body":"bank that you've been banking"},{"speaker":"Andrew Bean","startTime":1630.02,"endTime":1631.97,"body":"with for like, you know, the"},{"speaker":"Andrew Bean","startTime":1631.97,"endTime":1633.08,"body":"last 20 years?"},{"speaker":"Victor Lagos","startTime":1634.01,"endTime":1636.8,"body":"Yeah, I think more"},{"speaker":"Victor Lagos","startTime":1634.01,"endTime":1636.8,"body":"and more people are realizing"},{"speaker":"Victor Lagos","startTime":1636.8,"endTime":1639.95,"body":"the value that a broker can"},{"speaker":"Victor Lagos","startTime":1636.8,"endTime":1639.95,"body":"bring heaps of value. Yeah, I"},{"speaker":"Victor Lagos","startTime":1639.95,"endTime":1643.1,"body":"mean, it's, to me, it's a no"},{"speaker":"Victor Lagos","startTime":1639.95,"endTime":1643.1,"body":"brainer, like, if I, you know,"},{"speaker":"Victor Lagos","startTime":1643.16,"endTime":1644.96,"body":"every time I've gotten a loan,"},{"speaker":"Victor Lagos","startTime":1643.16,"endTime":1644.96,"body":"I've gone through a mortgage"},{"speaker":"Victor Lagos","startTime":1644.96,"endTime":1648.68,"body":"broker, even before as a"},{"speaker":"Victor Lagos","startTime":1644.96,"endTime":1648.68,"body":"mortgage broker. Actually,"},{"speaker":"Victor Lagos","startTime":1648.68,"endTime":1650.93,"body":"that's a lie, I did do it"},{"speaker":"Victor Lagos","startTime":1648.68,"endTime":1650.93,"body":"directly, once because I worked"},{"speaker":"Victor Lagos","startTime":1650.93,"endTime":1654.89,"body":"at the bank, and I got staff"},{"speaker":"Victor Lagos","startTime":1650.93,"endTime":1654.89,"body":"pricing, different story. But"},{"speaker":"Victor Lagos","startTime":1654.95,"endTime":1657.68,"body":"the main reason is, you're"},{"speaker":"Victor Lagos","startTime":1654.95,"endTime":1657.68,"body":"right, you're having access to"},{"speaker":"Victor Lagos","startTime":1657.68,"endTime":1661.16,"body":"multiple lenders, and"},{"speaker":"Victor Lagos","startTime":1657.68,"endTime":1661.16,"body":"specifically, the changing"},{"speaker":"Victor Lagos","startTime":1661.25,"endTime":1664.67,"body":"policies. So banks are always"},{"speaker":"Victor Lagos","startTime":1661.25,"endTime":1664.67,"body":"changing their policies, like"},{"speaker":"Victor Lagos","startTime":1664.7,"endTime":1667.7,"body":"every day, there's some email"},{"speaker":"Victor Lagos","startTime":1664.7,"endTime":1667.7,"body":"coming out, you know, we've,"},{"speaker":"Victor Lagos","startTime":1667.73,"endTime":1670.31,"body":"we've come up with a new self"},{"speaker":"Victor Lagos","startTime":1667.73,"endTime":1670.31,"body":"employed policy. Now, we don't"},{"speaker":"Victor Lagos","startTime":1670.31,"endTime":1673.28,"body":"need this much documents. Now we"},{"speaker":"Victor Lagos","startTime":1670.31,"endTime":1673.28,"body":"need more documents, you know,"},{"speaker":"Victor Lagos","startTime":1673.58,"endTime":1676.4,"body":"we've got a special on this"},{"speaker":"Victor Lagos","startTime":1673.58,"endTime":1676.4,"body":"interest rate, or, you know,"},{"speaker":"Victor Lagos","startTime":1676.4,"endTime":1682.31,"body":"we're waiving fees here. It's so"},{"speaker":"Victor Lagos","startTime":1676.4,"endTime":1682.31,"body":"it's always changing. So every"},{"speaker":"Victor Lagos","startTime":1682.31,"endTime":1687.38,"body":"customer has got a unique, you"},{"speaker":"Victor Lagos","startTime":1682.31,"endTime":1687.38,"body":"know, situation. You know, it's"},{"speaker":"Victor Lagos","startTime":1687.38,"endTime":1689.66,"body":"about understanding their"},{"speaker":"Victor Lagos","startTime":1687.38,"endTime":1689.66,"body":"situation, and what they're"},{"speaker":"Victor Lagos","startTime":1689.66,"endTime":1692.9,"body":"trying to achieve. And then"},{"speaker":"Victor Lagos","startTime":1689.66,"endTime":1692.9,"body":"selecting, you know, the top"},{"speaker":"Victor Lagos","startTime":1692.9,"endTime":1697.1,"body":"three lenders that fit that"},{"speaker":"Victor Lagos","startTime":1692.9,"endTime":1697.1,"body":"objective, if they're going into"},{"speaker":"Victor Lagos","startTime":1697.1,"endTime":1701.21,"body":"one bank, by themselves, and"},{"speaker":"Victor Lagos","startTime":1697.1,"endTime":1701.21,"body":"they share their entire"},{"speaker":"Victor Lagos","startTime":1701.21,"endTime":1704.15,"body":"financial position, that bank"},{"speaker":"Victor Lagos","startTime":1701.21,"endTime":1704.15,"body":"can only present options that"},{"speaker":"Victor Lagos","startTime":1704.15,"endTime":1708.29,"body":"that bank offers, right, just"},{"speaker":"Victor Lagos","startTime":1704.15,"endTime":1708.29,"body":"maybe two products, or interest"},{"speaker":"Victor Lagos","startTime":1708.29,"endTime":1711.77,"body":"only, or principal and interest,"},{"speaker":"Victor Lagos","startTime":1708.29,"endTime":1711.77,"body":"basically, interest rates,"},{"speaker":"Victor Lagos","startTime":1712.01,"endTime":1715.7,"body":"policy, how much they can"},{"speaker":"Victor Lagos","startTime":1712.01,"endTime":1715.7,"body":"borrow. It's all limited to"},{"speaker":"Victor Lagos","startTime":1715.7,"endTime":1718.4,"body":"whatever that one bank can"},{"speaker":"Victor Lagos","startTime":1715.7,"endTime":1718.4,"body":"offer. So if you go and shop"},{"speaker":"Victor Lagos","startTime":1718.4,"endTime":1721.58,"body":"that around, and you go to"},{"speaker":"Victor Lagos","startTime":1718.4,"endTime":1721.58,"body":"multiple banks yourself, you're"},{"speaker":"Victor Lagos","startTime":1721.58,"endTime":1725.0,"body":"doing all the legwork that I"},{"speaker":"Victor Lagos","startTime":1721.58,"endTime":1725.0,"body":"would do usually as a broker."},{"speaker":"Victor Lagos","startTime":1725.75,"endTime":1728.0,"body":"But a lot of the time, you don't"},{"speaker":"Victor Lagos","startTime":1725.75,"endTime":1728.0,"body":"know this, but the bank will"},{"speaker":"Victor Lagos","startTime":1728.0,"endTime":1730.28,"body":"actually put an application"},{"speaker":"Victor Lagos","startTime":1728.0,"endTime":1730.28,"body":"forward before they give you"},{"speaker":"Victor Lagos","startTime":1730.31,"endTime":1733.7,"body":"some sort of indicative pricing."},{"speaker":"Victor Lagos","startTime":1730.31,"endTime":1733.7,"body":"So they're not going to give you"},{"speaker":"Victor Lagos","startTime":1733.7,"endTime":1736.73,"body":"an interest rate and fees, until"},{"speaker":"Victor Lagos","startTime":1733.7,"endTime":1736.73,"body":"they've actually got you to"},{"speaker":"Victor Lagos","startTime":1736.73,"endTime":1740.66,"body":"somewhat commit. And then what"},{"speaker":"Victor Lagos","startTime":1736.73,"endTime":1740.66,"body":"happens is, you're actually"},{"speaker":"Victor Lagos","startTime":1740.66,"endTime":1743.9,"body":"putting an imprint on your"},{"speaker":"Victor Lagos","startTime":1740.66,"endTime":1743.9,"body":"credit file. And if you do that"},{"speaker":"Victor Lagos","startTime":1743.9,"endTime":1747.59,"body":"few times, in a short amount of"},{"speaker":"Victor Lagos","startTime":1743.9,"endTime":1747.59,"body":"time, your credit, credit score"},{"speaker":"Victor Lagos","startTime":1747.59,"endTime":1751.25,"body":"goes down. And now it gets"},{"speaker":"Victor Lagos","startTime":1747.59,"endTime":1751.25,"body":"harder to get finance approved."},{"speaker":"Victor Lagos","startTime":1751.76,"endTime":1754.67,"body":"You're gonna happen to a client"},{"speaker":"Victor Lagos","startTime":1751.76,"endTime":1754.67,"body":"recently, he didn't actually"},{"speaker":"Victor Lagos","startTime":1754.67,"endTime":1759.44,"body":"realize that his his missus had"},{"speaker":"Victor Lagos","startTime":1754.67,"endTime":1759.44,"body":"actually been applying for a few"},{"speaker":"Victor Lagos","startTime":1759.44,"endTime":1763.25,"body":"different loans. And his credit"},{"speaker":"Victor Lagos","startTime":1759.44,"endTime":1763.25,"body":"critical went down. And we"},{"speaker":"Victor Lagos","startTime":1763.25,"endTime":1765.62,"body":"weren't able to get the finance,"},{"speaker":"Victor Lagos","startTime":1763.25,"endTime":1765.62,"body":"unfortunately, but we're gonna"},{"speaker":"Victor Lagos","startTime":1765.62,"endTime":1770.0,"body":"have to wait. You know, credit"},{"speaker":"Victor Lagos","startTime":1765.62,"endTime":1770.0,"body":"scores improve over time. So"},{"speaker":"Victor Lagos","startTime":1770.0,"endTime":1771.62,"body":"we're just gonna have to wait a"},{"speaker":"Victor Lagos","startTime":1770.0,"endTime":1771.62,"body":"few months and go again."},{"speaker":"Andrew Bean","startTime":1772.13,"endTime":1777.11,"body":"Yeah, fair enough."},{"speaker":"Andrew Bean","startTime":1772.13,"endTime":1777.11,"body":"So mate, how long are you giving"},{"speaker":"Andrew Bean","startTime":1777.14,"endTime":1779.84,"body":"the clients to actually get"},{"speaker":"Andrew Bean","startTime":1777.14,"endTime":1779.84,"body":"lending? Like, what are you"},{"speaker":"Andrew Bean","startTime":1779.84,"endTime":1783.68,"body":"saying to them? Okay, on day"},{"speaker":"Andrew Bean","startTime":1779.84,"endTime":1783.68,"body":"one, we've got this, how long do"},{"speaker":"Andrew Bean","startTime":1783.68,"endTime":1786.47,"body":"you think this cycle lending"},{"speaker":"Andrew Bean","startTime":1783.68,"endTime":1786.47,"body":"process takes these days?"},{"speaker":"Victor Lagos","startTime":1787.82,"endTime":1790.55,"body":"So we talked about"},{"speaker":"Victor Lagos","startTime":1787.82,"endTime":1790.55,"body":"how much documents you have to"},{"speaker":"Victor Lagos","startTime":1790.55,"endTime":1794.72,"body":"gather. Right? So my advice"},{"speaker":"Victor Lagos","startTime":1790.55,"endTime":1794.72,"body":"would be to start getting all"},{"speaker":"Victor Lagos","startTime":1794.72,"endTime":1799.67,"body":"that documents compiled in a"},{"speaker":"Victor Lagos","startTime":1794.72,"endTime":1799.67,"body":"folder like a Dropbox or Google"},{"speaker":"Victor Lagos","startTime":1799.67,"endTime":1803.3,"body":"Drive Have, so that when you are"},{"speaker":"Victor Lagos","startTime":1799.67,"endTime":1803.3,"body":"ready to apply, you know, it's"},{"speaker":"Victor Lagos","startTime":1803.3,"endTime":1807.35,"body":"very easy drag and drop. That's"},{"speaker":"Victor Lagos","startTime":1803.3,"endTime":1807.35,"body":"probably the slowest process,"},{"speaker":"Victor Lagos","startTime":1807.35,"endTime":1811.46,"body":"I'd say, banks, depending if"},{"speaker":"Victor Lagos","startTime":1807.35,"endTime":1811.46,"body":"it's residential or commercial,"},{"speaker":"Victor Lagos","startTime":1811.79,"endTime":1815.21,"body":"if it's a big bank, smaller"},{"speaker":"Victor Lagos","startTime":1811.79,"endTime":1815.21,"body":"lender, second tier, etc, they"},{"speaker":"Victor Lagos","startTime":1815.21,"endTime":1818.3,"body":"all have different turnaround"},{"speaker":"Victor Lagos","startTime":1815.21,"endTime":1818.3,"body":"times, document requirements are"},{"speaker":"Victor Lagos","startTime":1818.3,"endTime":1822.02,"body":"fairly similar. But let's just"},{"speaker":"Victor Lagos","startTime":1818.3,"endTime":1822.02,"body":"say you have all your documents"},{"speaker":"Victor Lagos","startTime":1822.08,"endTime":1825.08,"body":"lined up your ducks in a row,"},{"speaker":"Victor Lagos","startTime":1822.08,"endTime":1825.08,"body":"you provide them to me, you fill"},{"speaker":"Victor Lagos","startTime":1825.08,"endTime":1830.81,"body":"out your fact fine. I submit"},{"speaker":"Victor Lagos","startTime":1825.08,"endTime":1830.81,"body":"that to a bank or lender, if"},{"speaker":"Victor Lagos","startTime":1830.81,"endTime":1834.02,"body":"it's a fast bank, I can usually"},{"speaker":"Victor Lagos","startTime":1830.81,"endTime":1834.02,"body":"if it's residential, and get"},{"speaker":"Victor Lagos","startTime":1834.02,"endTime":1837.89,"body":"approval within 24 to 48 hours"},{"speaker":"Victor Lagos","startTime":1834.02,"endTime":1837.89,"body":"with one bank, if it's a bank"},{"speaker":"Victor Lagos","startTime":1837.89,"endTime":1842.0,"body":"that you know, was offering a"},{"speaker":"Victor Lagos","startTime":1837.89,"endTime":1842.0,"body":"really hot rate, you know, cash"},{"speaker":"Victor Lagos","startTime":1842.0,"endTime":1845.3,"body":"back incentives for refinance,"},{"speaker":"Victor Lagos","startTime":1842.0,"endTime":1845.3,"body":"etc. You might wait two weeks"},{"speaker":"Victor Lagos","startTime":1845.3,"endTime":1849.65,"body":"before you get you hear back. If"},{"speaker":"Victor Lagos","startTime":1845.3,"endTime":1849.65,"body":"it's residential, we can do"},{"speaker":"Victor Lagos","startTime":1849.65,"endTime":1853.22,"body":"automated valuations to save"},{"speaker":"Victor Lagos","startTime":1849.65,"endTime":1853.22,"body":"time, depending on how, how much"},{"speaker":"Victor Lagos","startTime":1853.22,"endTime":1855.71,"body":"that property is worth. So you"},{"speaker":"Victor Lagos","startTime":1853.22,"endTime":1855.71,"body":"don't even need to send a value"},{"speaker":"Victor Lagos","startTime":1855.71,"endTime":1859.67,"body":"out to inspect. But if it's"},{"speaker":"Victor Lagos","startTime":1855.71,"endTime":1859.67,"body":"commercial, that's another game."},{"speaker":"Victor Lagos","startTime":1860.6,"endTime":1863.66,"body":"There's more documents to come"},{"speaker":"Victor Lagos","startTime":1860.6,"endTime":1863.66,"body":"up with. There's probably a bit"},{"speaker":"Victor Lagos","startTime":1863.66,"endTime":1867.2,"body":"more to and fro as well. Because"},{"speaker":"Victor Lagos","startTime":1863.66,"endTime":1867.2,"body":"of this. There's another banker"},{"speaker":"Victor Lagos","startTime":1867.2,"endTime":1870.2,"body":"involved asking questions, it's"},{"speaker":"Victor Lagos","startTime":1867.2,"endTime":1870.2,"body":"not just straight to the bank or"},{"speaker":"Victor Lagos","startTime":1870.2,"endTime":1875.81,"body":"to the credit team. And"},{"speaker":"Victor Lagos","startTime":1870.2,"endTime":1875.81,"body":"valuations, they take a long"},{"speaker":"Victor Lagos","startTime":1875.81,"endTime":1879.5,"body":"time for commercial valuations,"},{"speaker":"Victor Lagos","startTime":1875.81,"endTime":1879.5,"body":"they're the more expensive, the"},{"speaker":"Victor Lagos","startTime":1879.5,"endTime":1883.52,"body":"more in depth long form. And"},{"speaker":"Victor Lagos","startTime":1879.5,"endTime":1883.52,"body":"depending where the property is"},{"speaker":"Victor Lagos","startTime":1883.52,"endTime":1886.13,"body":"located, and how big how busy"},{"speaker":"Victor Lagos","startTime":1883.52,"endTime":1886.13,"body":"the market is, and the values"},{"speaker":"Victor Lagos","startTime":1886.13,"endTime":1889.94,"body":"are, you know, they can take"},{"speaker":"Victor Lagos","startTime":1886.13,"endTime":1889.94,"body":"from anywhere from five days to"},{"speaker":"Victor Lagos","startTime":1890.06,"endTime":1892.64,"body":"you know, a month before"},{"speaker":"Victor Lagos","startTime":1890.06,"endTime":1892.64,"body":"evaluation is complete."},{"speaker":"Andrew Bean","startTime":1894.08,"endTime":1897.05,"body":"So, how long a"},{"speaker":"Andrew Bean","startTime":1894.08,"endTime":1897.05,"body":"total? Would you say? How long"},{"speaker":"Andrew Bean","startTime":1897.05,"endTime":1898.4,"body":"you total? You say to clients?"},{"speaker":"Victor Lagos","startTime":1899.149,"endTime":1902.389,"body":"Again, it depends."},{"speaker":"Victor Lagos","startTime":1899.149,"endTime":1902.389,"body":"So I usually would say, from"},{"speaker":"Victor Lagos","startTime":1902.389,"endTime":1903.499,"body":"start to finish"},{"speaker":"Andrew Bean","startTime":1903.919,"endTime":1907.099,"body":"six weeks? Well,"},{"speaker":"Andrew Bean","startTime":1903.919,"endTime":1907.099,"body":"it's still pretty quick. I mean,"},{"speaker":"Andrew Bean","startTime":1907.099,"endTime":1911.509,"body":"realistically, to get financing"},{"speaker":"Andrew Bean","startTime":1907.099,"endTime":1911.509,"body":"six weeks, I would say that's"},{"speaker":"Andrew Bean","startTime":1911.509,"endTime":1915.709,"body":"actually like pretty good. You"},{"speaker":"Andrew Bean","startTime":1911.509,"endTime":1915.709,"body":"know, it's it does take a long"},{"speaker":"Andrew Bean","startTime":1915.709,"endTime":1918.229,"body":"time when you need all these"},{"speaker":"Andrew Bean","startTime":1915.709,"endTime":1918.229,"body":"documents. And then because each"},{"speaker":"Andrew Bean","startTime":1918.229,"endTime":1921.139,"body":"document request, it could take"},{"speaker":"Andrew Bean","startTime":1918.229,"endTime":1921.139,"body":"you a couple of days to get back"},{"speaker":"Andrew Bean","startTime":1921.139,"endTime":1924.319,"body":"to them. So then there's a week"},{"speaker":"Andrew Bean","startTime":1921.139,"endTime":1924.319,"body":"gone pretty much, and it just"},{"speaker":"Andrew Bean","startTime":1924.349,"endTime":1927.919,"body":"rolls on and rolls on. It's,"},{"speaker":"Andrew Bean","startTime":1924.349,"endTime":1927.919,"body":"it's a real big pain in the ass."},{"speaker":"Victor Lagos","startTime":1928.07,"endTime":1930.11,"body":"Yeah, can delay"},{"speaker":"Victor Lagos","startTime":1928.07,"endTime":1930.11,"body":"when you have to ask for more"},{"speaker":"Victor Lagos","startTime":1930.11,"endTime":1934.16,"body":"and more documents, I really try"},{"speaker":"Victor Lagos","startTime":1930.11,"endTime":1934.16,"body":"my best to get everything up"},{"speaker":"Victor Lagos","startTime":1934.16,"endTime":1937.88,"body":"front and make it easier for the"},{"speaker":"Victor Lagos","startTime":1934.16,"endTime":1937.88,"body":"bank to approve the loan."},{"speaker":"Victor Lagos","startTime":1938.54,"endTime":1942.38,"body":"Because I said to you earlier, I"},{"speaker":"Victor Lagos","startTime":1938.54,"endTime":1942.38,"body":"used to work at Macquarie Bank,"},{"speaker":"Victor Lagos","startTime":1942.44,"endTime":1946.04,"body":"and I worked in credit. So I"},{"speaker":"Victor Lagos","startTime":1942.44,"endTime":1946.04,"body":"meant that I was approving the"},{"speaker":"Victor Lagos","startTime":1946.04,"endTime":1950.06,"body":"loans. So I knew what to look"},{"speaker":"Victor Lagos","startTime":1946.04,"endTime":1950.06,"body":"for. And I know from experience,"},{"speaker":"Victor Lagos","startTime":1950.6,"endTime":1953.39,"body":"it's not the best when you have"},{"speaker":"Victor Lagos","startTime":1950.6,"endTime":1953.39,"body":"to go back to a broker and say,"},{"speaker":"Victor Lagos","startTime":1953.39,"endTime":1955.73,"body":"Hey, you missed this, you missed"},{"speaker":"Victor Lagos","startTime":1953.39,"endTime":1955.73,"body":"that you missed that you didn't"},{"speaker":"Victor Lagos","startTime":1955.76,"endTime":1958.64,"body":"do this properly, you didn't"},{"speaker":"Victor Lagos","startTime":1955.76,"endTime":1958.64,"body":"tick that box, you forgot this"},{"speaker":"Victor Lagos","startTime":1958.64,"endTime":1964.61,"body":"form, etc. That creates lag,"},{"speaker":"Victor Lagos","startTime":1958.64,"endTime":1964.61,"body":"right, not just for the"},{"speaker":"Victor Lagos","startTime":1964.64,"endTime":1967.64,"body":"obviously the customers taking"},{"speaker":"Victor Lagos","startTime":1964.64,"endTime":1967.64,"body":"for as long for them, brokers"},{"speaker":"Victor Lagos","startTime":1967.64,"endTime":1970.73,"body":"not getting a great experience."},{"speaker":"Victor Lagos","startTime":1967.64,"endTime":1970.73,"body":"And for me, when I was in"},{"speaker":"Victor Lagos","startTime":1970.73,"endTime":1974.21,"body":"credit, I don't really like that"},{"speaker":"Victor Lagos","startTime":1970.73,"endTime":1974.21,"body":"broker as much anymore, right?"},{"speaker":"Victor Lagos","startTime":1974.21,"endTime":1978.29,"body":"Because they've just made my job"},{"speaker":"Victor Lagos","startTime":1974.21,"endTime":1978.29,"body":"harder. But a broker that sends"},{"speaker":"Victor Lagos","startTime":1978.29,"endTime":1980.6,"body":"me everything that I need up"},{"speaker":"Victor Lagos","startTime":1978.29,"endTime":1980.6,"body":"front ticks, all the right"},{"speaker":"Victor Lagos","startTime":1980.6,"endTime":1984.8,"body":"boxes, provides all the forms."},{"speaker":"Victor Lagos","startTime":1980.6,"endTime":1984.8,"body":"And just lets me go tick, tick,"},{"speaker":"Victor Lagos","startTime":1984.8,"endTime":1988.43,"body":"tick approve next, I'm happy"},{"speaker":"Victor Lagos","startTime":1984.8,"endTime":1988.43,"body":"because that's what a credit"},{"speaker":"Victor Lagos","startTime":1988.43,"endTime":1991.37,"body":"person looks for. They don't"},{"speaker":"Victor Lagos","startTime":1988.43,"endTime":1991.37,"body":"don't get emotionally involved"},{"speaker":"Victor Lagos","startTime":1991.37,"endTime":1994.25,"body":"in the deal. They can't, right"},{"speaker":"Victor Lagos","startTime":1991.37,"endTime":1994.25,"body":"then look at the customer's Oh,"},{"speaker":"Victor Lagos","startTime":1994.25,"endTime":1996.62,"body":"they're buying their dream home"},{"speaker":"Victor Lagos","startTime":1994.25,"endTime":1996.62,"body":"or they're buying, you know,"},{"speaker":"Victor Lagos","startTime":1996.62,"endTime":1999.53,"body":"property that's going to create"},{"speaker":"Victor Lagos","startTime":1996.62,"endTime":1999.53,"body":"financial freedom for them. No,"},{"speaker":"Victor Lagos","startTime":1999.71,"endTime":2003.34,"body":"they just look at do all the,"},{"speaker":"Victor Lagos","startTime":1999.71,"endTime":2003.34,"body":"you know, all the documents"},{"speaker":"Victor Lagos","startTime":2003.34,"endTime":2006.16,"body":"provided that we asked for that"},{"speaker":"Victor Lagos","startTime":2003.34,"endTime":2006.16,"body":"we need? Are there comments to"},{"speaker":"Victor Lagos","startTime":2006.16,"endTime":2011.74,"body":"cover off certain things that"},{"speaker":"Victor Lagos","startTime":2006.16,"endTime":2011.74,"body":"are red flags? Are there any"},{"speaker":"Victor Lagos","startTime":2011.74,"endTime":2015.55,"body":"special approvals that we've got"},{"speaker":"Victor Lagos","startTime":2011.74,"endTime":2015.55,"body":"from someone higher credit, you"},{"speaker":"Victor Lagos","startTime":2015.55,"endTime":2018.79,"body":"know, all of that. So I tried to"},{"speaker":"Victor Lagos","startTime":2015.55,"endTime":2018.79,"body":"cover all that off. So that way,"},{"speaker":"Victor Lagos","startTime":2018.79,"endTime":2022.27,"body":"by the time they pick it up,"},{"speaker":"Victor Lagos","startTime":2018.79,"endTime":2022.27,"body":"they can just say, tick, tick,"},{"speaker":"Victor Lagos","startTime":2022.27,"endTime":2026.8,"body":"tick, approve. And then it goes"},{"speaker":"Victor Lagos","startTime":2022.27,"endTime":2026.8,"body":"to the next person who sits in"},{"speaker":"Victor Lagos","startTime":2026.8,"endTime":2030.22,"body":"the bank, there's a settlement"},{"speaker":"Victor Lagos","startTime":2026.8,"endTime":2030.22,"body":"person or a document preparation"},{"speaker":"Victor Lagos","startTime":2030.22,"endTime":2033.37,"body":"person. So the whole team that"},{"speaker":"Victor Lagos","startTime":2030.22,"endTime":2033.37,"body":"does that, right? Sends about"},{"speaker":"Victor Lagos","startTime":2033.4,"endTime":2037.24,"body":"customer sign, then we start"},{"speaker":"Victor Lagos","startTime":2033.4,"endTime":2037.24,"body":"processing the settlement."},{"speaker":"Victor Lagos","startTime":2037.78,"endTime":2041.8,"body":"Right. So then when I said six"},{"speaker":"Victor Lagos","startTime":2037.78,"endTime":2041.8,"body":"weeks, that can be end to end,"},{"speaker":"Victor Lagos","startTime":2041.89,"endTime":2044.23,"body":"right. That's that's settlement,"},{"speaker":"Victor Lagos","startTime":2041.89,"endTime":2044.23,"body":"right? That's when money is"},{"speaker":"Victor Lagos","startTime":2044.23,"endTime":2047.11,"body":"exchanged, and you own the"},{"speaker":"Victor Lagos","startTime":2044.23,"endTime":2047.11,"body":"property. Right? If you're"},{"speaker":"Victor Lagos","startTime":2047.11,"endTime":2049.69,"body":"buying something in Queensland,"},{"speaker":"Victor Lagos","startTime":2047.11,"endTime":2049.69,"body":"usually it's like a 30 day"},{"speaker":"Victor Lagos","startTime":2049.69,"endTime":2053.44,"body":"settlement. So we want to get"},{"speaker":"Victor Lagos","startTime":2049.69,"endTime":2053.44,"body":"that approval as quickly as"},{"speaker":"Victor Lagos","startTime":2053.44,"endTime":2055.45,"body":"possible. So you can meet the"},{"speaker":"Victor Lagos","startTime":2053.44,"endTime":2055.45,"body":"deadline for settlement."},{"speaker":"Andrew Bean","startTime":2056.29,"endTime":2059.53,"body":"Yeah, and are you"},{"speaker":"Andrew Bean","startTime":2056.29,"endTime":2059.53,"body":"seeing a lot of contracts get"},{"speaker":"Andrew Bean","startTime":2059.53,"endTime":2062.68,"body":"pushed out now, because I've"},{"speaker":"Andrew Bean","startTime":2059.53,"endTime":2062.68,"body":"I've been speaking obviously to"},{"speaker":"Andrew Bean","startTime":2062.68,"endTime":2066.49,"body":"the banks a few times on a few"},{"speaker":"Andrew Bean","startTime":2062.68,"endTime":2066.49,"body":"different deals. And they've"},{"speaker":"Andrew Bean","startTime":2066.49,"endTime":2070.15,"body":"been telling me that it's"},{"speaker":"Andrew Bean","startTime":2066.49,"endTime":2070.15,"body":"actually the valuation that"},{"speaker":"Andrew Bean","startTime":2070.15,"endTime":2072.4,"body":"they're having problems with"},{"speaker":"Andrew Bean","startTime":2070.15,"endTime":2072.4,"body":"where the value is, we'll say"},{"speaker":"Andrew Bean","startTime":2072.4,"endTime":2075.67,"body":"they can do it on this date. And"},{"speaker":"Andrew Bean","startTime":2072.4,"endTime":2075.67,"body":"then they can't get to the site."},{"speaker":"Andrew Bean","startTime":2075.67,"endTime":2079.09,"body":"And sometimes it's even like,"},{"speaker":"Andrew Bean","startTime":2075.67,"endTime":2079.09,"body":"you know, four weeks until they"},{"speaker":"Andrew Bean","startTime":2079.12,"endTime":2082.6,"body":"can actually get to the site to"},{"speaker":"Andrew Bean","startTime":2079.12,"endTime":2082.6,"body":"even start the valuation. And"},{"speaker":"Andrew Bean","startTime":2082.6,"endTime":2085.24,"body":"then obviously, evaluation on a"},{"speaker":"Andrew Bean","startTime":2082.6,"endTime":2085.24,"body":"commercial property or self"},{"speaker":"Andrew Bean","startTime":2085.24,"endTime":2088.66,"body":"storage facility, like it takes"},{"speaker":"Andrew Bean","startTime":2085.24,"endTime":2088.66,"body":"a long time, especially a self"},{"speaker":"Andrew Bean","startTime":2088.66,"endTime":2091.48,"body":"storage facility. So that could"},{"speaker":"Andrew Bean","startTime":2088.66,"endTime":2091.48,"body":"be another week and a half of"},{"speaker":"Andrew Bean","startTime":2091.48,"endTime":2095.02,"body":"just the reporting on it. So"},{"speaker":"Andrew Bean","startTime":2091.48,"endTime":2095.02,"body":"you're looking at like already a"},{"speaker":"Andrew Bean","startTime":2095.02,"endTime":2098.41,"body":"five and a half week process"},{"speaker":"Andrew Bean","startTime":2095.02,"endTime":2098.41,"body":"just to get a valuation back to"},{"speaker":"Andrew Bean","startTime":2098.41,"endTime":2102.04,"body":"the bank so they can even look"},{"speaker":"Andrew Bean","startTime":2098.41,"endTime":2102.04,"body":"at the fire. Oh, yeah, it"},{"speaker":"Victor Lagos","startTime":2102.04,"endTime":2104.2,"body":"depends on the"},{"speaker":"Victor Lagos","startTime":2102.04,"endTime":2104.2,"body":"complexity of the property. And"},{"speaker":"Victor Lagos","startTime":2104.2,"endTime":2108.28,"body":"your storage isn't a simple one."},{"speaker":"Victor Lagos","startTime":2104.2,"endTime":2108.28,"body":"And it's gonna take the valuer"},{"speaker":"Victor Lagos","startTime":2108.4,"endTime":2111.19,"body":"much longer to prepare the"},{"speaker":"Victor Lagos","startTime":2108.4,"endTime":2111.19,"body":"report, do the research to"},{"speaker":"Victor Lagos","startTime":2111.19,"endTime":2113.89,"body":"actually come up with a figure"},{"speaker":"Victor Lagos","startTime":2111.19,"endTime":2113.89,"body":"and provide all the data they"},{"speaker":"Victor Lagos","startTime":2113.89,"endTime":2117.61,"body":"need to in the actual report"},{"speaker":"Victor Lagos","startTime":2113.89,"endTime":2117.61,"body":"itself. So getting access to the"},{"speaker":"Victor Lagos","startTime":2117.61,"endTime":2120.52,"body":"property is one thing and then"},{"speaker":"Victor Lagos","startTime":2117.61,"endTime":2120.52,"body":"doing the report is another. So"},{"speaker":"Victor Lagos","startTime":2120.55,"endTime":2125.35,"body":"I am seeing that more and more"},{"speaker":"Victor Lagos","startTime":2120.55,"endTime":2125.35,"body":"where we're having to ask for"},{"speaker":"Victor Lagos","startTime":2125.59,"endTime":2128.92,"body":"finance clause extensions for"},{"speaker":"Victor Lagos","startTime":2125.59,"endTime":2128.92,"body":"that exact reason. You know,"},{"speaker":"Victor Lagos","startTime":2128.95,"endTime":2131.86,"body":"usually, if you go through,"},{"speaker":"Victor Lagos","startTime":2128.95,"endTime":2131.86,"body":"like, if you're communicating"},{"speaker":"Victor Lagos","startTime":2131.86,"endTime":2134.77,"body":"with the selling agent, well,"},{"speaker":"Victor Lagos","startTime":2131.86,"endTime":2134.77,"body":"and you're transparent, they"},{"speaker":"Victor Lagos","startTime":2134.77,"endTime":2137.59,"body":"know you're getting finance,"},{"speaker":"Victor Lagos","startTime":2134.77,"endTime":2137.59,"body":"it's not a surprise to them,"},{"speaker":"Victor Lagos","startTime":2137.65,"endTime":2140.35,"body":"they're well aware that that's"},{"speaker":"Victor Lagos","startTime":2137.65,"endTime":2140.35,"body":"what's happening in the market."},{"speaker":"Victor Lagos","startTime":2140.68,"endTime":2143.86,"body":"So they then need to communicate"},{"speaker":"Victor Lagos","startTime":2140.68,"endTime":2143.86,"body":"that to the vendor, to get the"},{"speaker":"Victor Lagos","startTime":2143.86,"endTime":2147.34,"body":"okay to extend it. But there are"},{"speaker":"Victor Lagos","startTime":2143.86,"endTime":2147.34,"body":"some sellers that aren't going"},{"speaker":"Victor Lagos","startTime":2147.34,"endTime":2150.82,"body":"to want to keep extending it."},{"speaker":"Victor Lagos","startTime":2147.34,"endTime":2150.82,"body":"And, you know, if that happens,"},{"speaker":"Victor Lagos","startTime":2151.15,"endTime":2154.6,"body":"you know, where, where are we"},{"speaker":"Victor Lagos","startTime":2151.15,"endTime":2154.6,"body":"at? What are my options? Do we"},{"speaker":"Victor Lagos","startTime":2155.26,"endTime":2159.37,"body":"go to another value, that's got"},{"speaker":"Victor Lagos","startTime":2155.26,"endTime":2159.37,"body":"a faster turnaround time, that's"},{"speaker":"Victor Lagos","startTime":2159.37,"endTime":2163.24,"body":"going to charge more. So you win"},{"speaker":"Victor Lagos","startTime":2159.37,"endTime":2163.24,"body":"the property, because I always"},{"speaker":"Victor Lagos","startTime":2163.24,"endTime":2166.72,"body":"get quotes, you know, like three"},{"speaker":"Victor Lagos","startTime":2163.24,"endTime":2166.72,"body":"or four quotes, with turnaround"},{"speaker":"Victor Lagos","startTime":2166.72,"endTime":2169.81,"body":"times and cost. Sometimes the"},{"speaker":"Victor Lagos","startTime":2166.72,"endTime":2169.81,"body":"cheaper it is, the longer it"},{"speaker":"Victor Lagos","startTime":2169.81,"endTime":2173.8,"body":"takes, yeah, expensive, they get"},{"speaker":"Victor Lagos","startTime":2169.81,"endTime":2173.8,"body":"out there faster. But then you"},{"speaker":"Victor Lagos","startTime":2173.8,"endTime":2179.26,"body":"got to navigate that. And then"},{"speaker":"Victor Lagos","startTime":2173.8,"endTime":2179.26,"body":"if if we can't get financed"},{"speaker":"Victor Lagos","startTime":2179.26,"endTime":2182.5,"body":"extensions, and that particular"},{"speaker":"Victor Lagos","startTime":2179.26,"endTime":2182.5,"body":"lender is taking a while,"},{"speaker":"Victor Lagos","startTime":2182.56,"endTime":2185.35,"body":"because they got the sharpest"},{"speaker":"Victor Lagos","startTime":2182.56,"endTime":2185.35,"body":"rates and the best loan terms,"},{"speaker":"Victor Lagos","startTime":2186.16,"endTime":2189.43,"body":"then we might have to go to, you"},{"speaker":"Victor Lagos","startTime":2186.16,"endTime":2189.43,"body":"know, a non bank lender or a"},{"speaker":"Victor Lagos","startTime":2189.43,"endTime":2194.95,"body":"private lender, and you pay for"},{"speaker":"Victor Lagos","startTime":2189.43,"endTime":2194.95,"body":"that. But if this means you get"},{"speaker":"Victor Lagos","startTime":2194.95,"endTime":2197.62,"body":"to, you get to buy the property,"},{"speaker":"Victor Lagos","startTime":2194.95,"endTime":2197.62,"body":"or it means that you're"},{"speaker":"Victor Lagos","startTime":2197.62,"endTime":2201.64,"body":"protecting yourself from not"},{"speaker":"Victor Lagos","startTime":2197.62,"endTime":2201.64,"body":"losing the deposit. Sometimes"},{"speaker":"Victor Lagos","startTime":2201.64,"endTime":2204.73,"body":"you have to take what what the"},{"speaker":"Victor Lagos","startTime":2201.64,"endTime":2204.73,"body":"best option is at the time."},{"speaker":"Andrew Bean","startTime":2205.39,"endTime":2207.28,"body":"Yeah, I totally"},{"speaker":"Andrew Bean","startTime":2205.39,"endTime":2207.28,"body":"agree. Sometimes it's better"},{"speaker":"Andrew Bean","startTime":2207.28,"endTime":2211.03,"body":"just to get the deal done. And"},{"speaker":"Andrew Bean","startTime":2207.28,"endTime":2211.03,"body":"then you can always refinance"},{"speaker":"Andrew Bean","startTime":2211.03,"endTime":2214.99,"body":"later, into a low interest rate,"},{"speaker":"Andrew Bean","startTime":2211.03,"endTime":2214.99,"body":"because people do, especially"},{"speaker":"Andrew Bean","startTime":2214.99,"endTime":2218.95,"body":"with residential, they're very,"},{"speaker":"Andrew Bean","startTime":2214.99,"endTime":2218.95,"body":"very particular on trying to get"},{"speaker":"Andrew Bean","startTime":2218.95,"endTime":2222.73,"body":"the best interest rate. And that"},{"speaker":"Andrew Bean","startTime":2218.95,"endTime":2222.73,"body":"will basically determine whether"},{"speaker":"Andrew Bean","startTime":2222.73,"endTime":2225.85,"body":"or not they go forward with the"},{"speaker":"Andrew Bean","startTime":2222.73,"endTime":2225.85,"body":"loan or not. Whereas like,"},{"speaker":"Andrew Bean","startTime":2225.88,"endTime":2230.35,"body":"realistically, if you're looking"},{"speaker":"Andrew Bean","startTime":2225.88,"endTime":2230.35,"body":"at it, like a 30 year, like, you"},{"speaker":"Andrew Bean","startTime":2230.35,"endTime":2233.2,"body":"know, lifecycle of the property,"},{"speaker":"Andrew Bean","startTime":2230.35,"endTime":2233.2,"body":"the interest rate right now"},{"speaker":"Andrew Bean","startTime":2233.2,"endTime":2235.75,"body":"probably doesn't matter just to"},{"speaker":"Andrew Bean","startTime":2233.2,"endTime":2235.75,"body":"get the deal over the line. And"},{"speaker":"Andrew Bean","startTime":2235.75,"endTime":2238.63,"body":"then you know, in two, three"},{"speaker":"Andrew Bean","startTime":2235.75,"endTime":2238.63,"body":"years, you can, you know, reduce"},{"speaker":"Andrew Bean","startTime":2238.63,"endTime":2241.3,"body":"the interest rate to whatever"},{"speaker":"Andrew Bean","startTime":2238.63,"endTime":2241.3,"body":"you want to or wherever you can"},{"speaker":"Andrew Bean","startTime":2241.45,"endTime":2244.0,"body":"get a better interest rate, but"},{"speaker":"Andrew Bean","startTime":2241.45,"endTime":2244.0,"body":"the most important thing is"},{"speaker":"Andrew Bean","startTime":2244.0,"endTime":2245.68,"body":"getting the deal over the line."},{"speaker":"Victor Lagos","startTime":2246.64,"endTime":2249.58,"body":"Yeah, yeah, I"},{"speaker":"Victor Lagos","startTime":2246.64,"endTime":2249.58,"body":"totally agree. It's, it depends"},{"speaker":"Victor Lagos","startTime":2249.58,"endTime":2253.54,"body":"on if it's such a good deal that"},{"speaker":"Victor Lagos","startTime":2249.58,"endTime":2253.54,"body":"you're buying below market, and"},{"speaker":"Victor Lagos","startTime":2253.54,"endTime":2256.24,"body":"you're winning that property,"},{"speaker":"Victor Lagos","startTime":2253.54,"endTime":2256.24,"body":"because you can settle quickly,"},{"speaker":"Victor Lagos","startTime":2256.66,"endTime":2258.88,"body":"and get the loan approved"},{"speaker":"Victor Lagos","startTime":2256.66,"endTime":2258.88,"body":"quickly, then, right shouldn't"},{"speaker":"Victor Lagos","startTime":2258.88,"endTime":2259.75,"body":"be what you focus on."},{"speaker":"Andrew Bean","startTime":2260.29,"endTime":2262.66,"body":"Yeah, it's only a"},{"speaker":"Andrew Bean","startTime":2260.29,"endTime":2262.66,"body":"very, very small piece of the"},{"speaker":"Andrew Bean","startTime":2262.66,"endTime":2265.27,"body":"puzzle, because it's just for"},{"speaker":"Andrew Bean","startTime":2262.66,"endTime":2265.27,"body":"like one or two or three years."},{"speaker":"Andrew Bean","startTime":2265.48,"endTime":2269.29,"body":"But if you're looking at like, a"},{"speaker":"Andrew Bean","startTime":2265.48,"endTime":2269.29,"body":"lifetime of a property, where"},{"speaker":"Andrew Bean","startTime":2269.29,"endTime":2271.99,"body":"the like capital growth or"},{"speaker":"Andrew Bean","startTime":2269.29,"endTime":2271.99,"body":"residential property could be"},{"speaker":"Andrew Bean","startTime":2271.99,"endTime":2276.16,"body":"double, even triple. Like, it's"},{"speaker":"Andrew Bean","startTime":2271.99,"endTime":2276.16,"body":"like, it's like, like, the math"},{"speaker":"Andrew Bean","startTime":2276.16,"endTime":2279.76,"body":"doesn't work out. You're like,"},{"speaker":"Andrew Bean","startTime":2276.16,"endTime":2279.76,"body":"you're looking at like losing,"},{"speaker":"Andrew Bean","startTime":2280.03,"endTime":2284.95,"body":"probably like $10,000, or losing"},{"speaker":"Andrew Bean","startTime":2280.03,"endTime":2284.95,"body":"maybe potentially half a million"},{"speaker":"Andrew Bean","startTime":2284.95,"endTime":2288.73,"body":"dollars in inequity. Like I got"},{"speaker":"Andrew Bean","startTime":2284.95,"endTime":2288.73,"body":"a 30 year lifetime lifespan."},{"speaker":"Victor Lagos","startTime":2288.94,"endTime":2291.7,"body":"Yeah, exactly."},{"speaker":"Victor Lagos","startTime":2288.94,"endTime":2291.7,"body":"Right. And if you consider that"},{"speaker":"Victor Lagos","startTime":2293.14,"endTime":2298.12,"body":"I can give you an example, where"},{"speaker":"Victor Lagos","startTime":2293.14,"endTime":2298.12,"body":"I was in a position where, you"},{"speaker":"Victor Lagos","startTime":2298.12,"endTime":2302.41,"body":"know, this was an I bought a"},{"speaker":"Victor Lagos","startTime":2298.12,"endTime":2302.41,"body":"property into 2021. If I had,"},{"speaker":"Victor Lagos","startTime":2303.31,"endTime":2307.45,"body":"and I don't advise this too many"},{"speaker":"Victor Lagos","startTime":2303.31,"endTime":2307.45,"body":"people. Actually, I rarely talk"},{"speaker":"Victor Lagos","startTime":2307.45,"endTime":2310.87,"body":"about this just because it's a"},{"speaker":"Victor Lagos","startTime":2307.45,"endTime":2310.87,"body":"risky game. When you borrow"},{"speaker":"Victor Lagos","startTime":2310.87,"endTime":2315.94,"body":"money for a deposit. Yeah,"},{"speaker":"Victor Lagos","startTime":2310.87,"endTime":2315.94,"body":"outside of, you know, I'll tell"},{"speaker":"Victor Lagos","startTime":2315.94,"endTime":2318.13,"body":"you how to work basically as a"},{"speaker":"Victor Lagos","startTime":2315.94,"endTime":2318.13,"body":"personal loan, right. And they"},{"speaker":"Victor Lagos","startTime":2318.13,"endTime":2323.41,"body":"call it gap finance. Yeah. And"},{"speaker":"Victor Lagos","startTime":2318.13,"endTime":2323.41,"body":"if I and I was having a good"},{"speaker":"Victor Lagos","startTime":2323.41,"endTime":2326.74,"body":"savings pattern, I was putting"},{"speaker":"Victor Lagos","startTime":2323.41,"endTime":2326.74,"body":"away like, $1,000 a week, every"},{"speaker":"Victor Lagos","startTime":2326.74,"endTime":2331.36,"body":"week saving. And I wanted to buy"},{"speaker":"Victor Lagos","startTime":2326.74,"endTime":2331.36,"body":"property, my wife and I wanted"},{"speaker":"Victor Lagos","startTime":2331.36,"endTime":2334.36,"body":"to buy his property, we could"},{"speaker":"Victor Lagos","startTime":2331.36,"endTime":2334.36,"body":"have waited six months, and we"},{"speaker":"Victor Lagos","startTime":2334.36,"endTime":2338.56,"body":"would have had an extra 40"},{"speaker":"Victor Lagos","startTime":2334.36,"endTime":2338.56,"body":"grand, which we needed. But we"},{"speaker":"Victor Lagos","startTime":2338.56,"endTime":2342.13,"body":"saw we wanted to get in at that"},{"speaker":"Victor Lagos","startTime":2338.56,"endTime":2342.13,"body":"point. So we got a 440 $1,000"},{"speaker":"Victor Lagos","startTime":2342.13,"endTime":2346.36,"body":"personal loan approved. We were"},{"speaker":"Victor Lagos","startTime":2342.13,"endTime":2346.36,"body":"still in LMI. So we had to"},{"speaker":"Victor Lagos","startTime":2346.54,"endTime":2350.41,"body":"obviously borrow Lenders"},{"speaker":"Victor Lagos","startTime":2346.54,"endTime":2350.41,"body":"Mortgage Insurance, as well. So"},{"speaker":"Victor Lagos","startTime":2350.41,"endTime":2355.24,"body":"we're already maxed out, but if"},{"speaker":"Victor Lagos","startTime":2350.41,"endTime":2355.24,"body":"we had waited, then we wouldn't"},{"speaker":"Victor Lagos","startTime":2355.24,"endTime":2358.69,"body":"have bought that property at the"},{"speaker":"Victor Lagos","startTime":2355.24,"endTime":2358.69,"body":"price that we did. And we"},{"speaker":"Victor Lagos","startTime":2358.69,"endTime":2361.12,"body":"wouldn't have been able to fix"},{"speaker":"Victor Lagos","startTime":2358.69,"endTime":2361.12,"body":"our interest rate, because at"},{"speaker":"Victor Lagos","startTime":2361.12,"endTime":2365.35,"body":"the time, we got an interest"},{"speaker":"Victor Lagos","startTime":2361.12,"endTime":2365.35,"body":"rate for 2.59%. Fixed. So if we"},{"speaker":"Victor Lagos","startTime":2365.35,"endTime":2367.87,"body":"were to six months, we wouldn't"},{"speaker":"Victor Lagos","startTime":2365.35,"endTime":2367.87,"body":"have got that right, we wouldn't"},{"speaker":"Victor Lagos","startTime":2367.87,"endTime":2369.61,"body":"have got that property would"},{"speaker":"Victor Lagos","startTime":2367.87,"endTime":2369.61,"body":"have been priced out for that"},{"speaker":"Victor Lagos","startTime":2369.61,"endTime":2373.75,"body":"particular area. And all we"},{"speaker":"Victor Lagos","startTime":2369.61,"endTime":2373.75,"body":"really did was get the loan and"},{"speaker":"Victor Lagos","startTime":2373.75,"endTime":2376.6,"body":"then pay it off over six months"},{"speaker":"Victor Lagos","startTime":2373.75,"endTime":2376.6,"body":"anyway. So the amount of"},{"speaker":"Victor Lagos","startTime":2376.6,"endTime":2379.66,"body":"interest we paid for that six"},{"speaker":"Victor Lagos","startTime":2376.6,"endTime":2379.66,"body":"months on that personal loan was"},{"speaker":"Victor Lagos","startTime":2379.9,"endTime":2382.24,"body":"was nothing. It was like a"},{"speaker":"Victor Lagos","startTime":2379.9,"endTime":2382.24,"body":"couple of grand."},{"speaker":"Andrew Bean","startTime":2382.93,"endTime":2386.71,"body":"Yeah, right. But"},{"speaker":"Andrew Bean","startTime":2382.93,"endTime":2386.71,"body":"the opportunity cost of not"},{"speaker":"Andrew Bean","startTime":2386.71,"endTime":2388.66,"body":"doing that was would have been"},{"speaker":"Andrew Bean","startTime":2386.71,"endTime":2388.66,"body":"huge."},{"speaker":"Victor Lagos","startTime":2388.69,"endTime":2391.15,"body":"Exactly. Sometimes"},{"speaker":"Victor Lagos","startTime":2388.69,"endTime":2391.15,"body":"people get so caught up in like,"},{"speaker":"Victor Lagos","startTime":2391.18,"endTime":2393.67,"body":"oh, I don't want to pay, you"},{"speaker":"Victor Lagos","startTime":2391.18,"endTime":2393.67,"body":"know, high interest rate on a"},{"speaker":"Victor Lagos","startTime":2393.67,"endTime":2397.42,"body":"personal loan. I don't want to"},{"speaker":"Victor Lagos","startTime":2393.67,"endTime":2397.42,"body":"pay mortgage insurance. And I"},{"speaker":"Victor Lagos","startTime":2397.42,"endTime":2400.27,"body":"probably has gone up 150 grand."},{"speaker":"Victor Lagos","startTime":2397.42,"endTime":2400.27,"body":"Yeah, and the rest He's been"},{"speaker":"Victor Lagos","startTime":2400.27,"endTime":2405.22,"body":"paying off the loan. So imagine,"},{"speaker":"Victor Lagos","startTime":2400.27,"endTime":2405.22,"body":"yeah, I talk myself out of it."},{"speaker":"Andrew Bean","startTime":2405.609,"endTime":2407.769,"body":"It's almost like"},{"speaker":"Andrew Bean","startTime":2405.609,"endTime":2407.769,"body":"bragging rights. So like a badge"},{"speaker":"Andrew Bean","startTime":2407.769,"endTime":2410.589,"body":"of honor saying I got this rate,"},{"speaker":"Andrew Bean","startTime":2407.769,"endTime":2410.589,"body":"you know, I got this interest"},{"speaker":"Andrew Bean","startTime":2410.589,"endTime":2412.599,"body":"rate, like it was really, really"},{"speaker":"Andrew Bean","startTime":2410.589,"endTime":2412.599,"body":"low. And that's what they brag"},{"speaker":"Andrew Bean","startTime":2412.599,"endTime":2416.049,"body":"about to, you know, their"},{"speaker":"Andrew Bean","startTime":2412.599,"endTime":2416.049,"body":"friends at that barbecue. But"},{"speaker":"Andrew Bean","startTime":2416.049,"endTime":2418.839,"body":"they'd never say, Oh, well, I've"},{"speaker":"Andrew Bean","startTime":2416.049,"endTime":2418.839,"body":"got it. And you know, in 30"},{"speaker":"Andrew Bean","startTime":2418.839,"endTime":2421.269,"body":"years, I'm gonna have half a"},{"speaker":"Andrew Bean","startTime":2418.839,"endTime":2421.269,"body":"million dollars of equity. And"},{"speaker":"Andrew Bean","startTime":2421.299,"endTime":2424.629,"body":"just because I, you know,"},{"speaker":"Andrew Bean","startTime":2421.299,"endTime":2424.629,"body":"sacrifice today, so like, you"},{"speaker":"Andrew Bean","startTime":2424.629,"endTime":2428.499,"body":"pay any price today. So you can"},{"speaker":"Andrew Bean","startTime":2424.629,"endTime":2428.499,"body":"pay any price tomorrow, like in"},{"speaker":"Andrew Bean","startTime":2428.499,"endTime":2429.099,"body":"the future?"},{"speaker":"Victor Lagos","startTime":2429.459,"endTime":2431.769,"body":"Yeah, exactly."},{"speaker":"Victor Lagos","startTime":2429.459,"endTime":2431.769,"body":"Right, you got to think about,"},{"speaker":"Victor Lagos","startTime":2432.159,"endTime":2435.219,"body":"like you said, the opportunity"},{"speaker":"Victor Lagos","startTime":2432.159,"endTime":2435.219,"body":"cost if you, if you get an hour"},{"speaker":"Victor Lagos","startTime":2435.219,"endTime":2437.649,"body":"if you if you don't get in at"},{"speaker":"Victor Lagos","startTime":2435.219,"endTime":2437.649,"body":"all, or you focus too much on"},{"speaker":"Victor Lagos","startTime":2437.649,"endTime":2439.959,"body":"the price, and you stop"},{"speaker":"Victor Lagos","startTime":2437.649,"endTime":2439.959,"body":"actually, when I say price, I"},{"speaker":"Victor Lagos","startTime":2439.959,"endTime":2443.259,"body":"mean, the interest rate without"},{"speaker":"Victor Lagos","startTime":2439.959,"endTime":2443.259,"body":"actually making a move for your"},{"speaker":"Victor Lagos","startTime":2443.259,"endTime":2443.709,"body":"future."},{"speaker":"Andrew Bean","startTime":2444.099,"endTime":2447.279,"body":"Yeah, that's it. So"},{"speaker":"Andrew Bean","startTime":2444.099,"endTime":2447.279,"body":"maybe one of the questions that"},{"speaker":"Andrew Bean","startTime":2447.279,"endTime":2451.689,"body":"I wanted to ask you is around"},{"speaker":"Andrew Bean","startTime":2447.279,"endTime":2451.689,"body":"the finance clause. So we kind"},{"speaker":"Andrew Bean","startTime":2451.689,"endTime":2455.229,"body":"of touched on the settlement,"},{"speaker":"Andrew Bean","startTime":2451.689,"endTime":2455.229,"body":"how long the settlement has been"},{"speaker":"Andrew Bean","startTime":2455.229,"endTime":2461.019,"body":"taking? What would your"},{"speaker":"Andrew Bean","startTime":2455.229,"endTime":2461.019,"body":"recommendation be for the days"},{"speaker":"Andrew Bean","startTime":2461.139,"endTime":2463.869,"body":"that you would request a finance"},{"speaker":"Andrew Bean","startTime":2461.139,"endTime":2463.869,"body":"clause in your commercial"},{"speaker":"Andrew Bean","startTime":2463.869,"endTime":2464.589,"body":"contract?"},{"speaker":"Victor Lagos","startTime":2465.369,"endTime":2467.679,"body":"Yeah, it's a good"},{"speaker":"Victor Lagos","startTime":2465.369,"endTime":2467.679,"body":"question. It depends on the on"},{"speaker":"Victor Lagos","startTime":2467.679,"endTime":2470.709,"body":"the vendor, and the, I guess,"},{"speaker":"Victor Lagos","startTime":2467.679,"endTime":2470.709,"body":"the demand for that particular"},{"speaker":"Victor Lagos","startTime":2470.709,"endTime":2475.449,"body":"property, and how you know how"},{"speaker":"Victor Lagos","startTime":2470.709,"endTime":2475.449,"body":"flexible they are? Yep. So"},{"speaker":"Victor Lagos","startTime":2476.019,"endTime":2480.789,"body":"usually, you'd go in at least 14"},{"speaker":"Victor Lagos","startTime":2476.019,"endTime":2480.789,"body":"days, like minimum. And even"},{"speaker":"Victor Lagos","startTime":2480.789,"endTime":2483.009,"body":"that's hard to meet, to be"},{"speaker":"Victor Lagos","startTime":2480.789,"endTime":2483.009,"body":"honest. Usually you'd ask for an"},{"speaker":"Victor Lagos","startTime":2483.009,"endTime":2486.699,"body":"extension, but just so it looks"},{"speaker":"Victor Lagos","startTime":2483.009,"endTime":2486.699,"body":"more appealing to the, to the"},{"speaker":"Victor Lagos","startTime":2486.699,"endTime":2491.379,"body":"vendor, if you can get get away"},{"speaker":"Victor Lagos","startTime":2486.699,"endTime":2491.379,"body":"with a 21 day, even better,"},{"speaker":"Victor Lagos","startTime":2491.769,"endTime":2494.259,"body":"because that gives you more time"},{"speaker":"Victor Lagos","startTime":2491.769,"endTime":2494.259,"body":"to get the valuation done and"},{"speaker":"Victor Lagos","startTime":2494.259,"endTime":2496.899,"body":"get the loan approved. Again,"},{"speaker":"Victor Lagos","startTime":2494.259,"endTime":2496.899,"body":"you might end up extending it"},{"speaker":"Victor Lagos","startTime":2496.899,"endTime":2501.699,"body":"anyway. So it really just comes"},{"speaker":"Victor Lagos","startTime":2496.899,"endTime":2501.699,"body":"down to, you know, what are they"},{"speaker":"Victor Lagos","startTime":2501.699,"endTime":2506.019,"body":"willing to accept, as part of"},{"speaker":"Victor Lagos","startTime":2501.699,"endTime":2506.019,"body":"the as part of the deal. And if"},{"speaker":"Victor Lagos","startTime":2506.019,"endTime":2510.939,"body":"they can take 21 days better,"},{"speaker":"Victor Lagos","startTime":2506.019,"endTime":2510.939,"body":"for fourteens? What it needs to"},{"speaker":"Victor Lagos","startTime":2510.939,"endTime":2514.509,"body":"be for you to win the deal, go"},{"speaker":"Victor Lagos","startTime":2510.939,"endTime":2514.509,"body":"in with 14. And then we can just"},{"speaker":"Victor Lagos","startTime":2514.509,"endTime":2517.269,"body":"ask for extensions if we have"},{"speaker":"Victor Lagos","startTime":2514.509,"endTime":2517.269,"body":"to. But it just means, you know,"},{"speaker":"Victor Lagos","startTime":2517.329,"endTime":2519.939,"body":"we might have to go to work and"},{"speaker":"Victor Lagos","startTime":2517.329,"endTime":2519.939,"body":"try to really push to get a fast"},{"speaker":"Victor Lagos","startTime":2519.939,"endTime":2520.359,"body":"approval."},{"speaker":"Andrew Bean","startTime":2521.23,"endTime":2523.03,"body":"Yeah, fair enough."},{"speaker":"Andrew Bean","startTime":2521.23,"endTime":2523.03,"body":"Because everything in a"},{"speaker":"Andrew Bean","startTime":2523.03,"endTime":2526.0,"body":"commercial contract is"},{"speaker":"Andrew Bean","startTime":2523.03,"endTime":2526.0,"body":"negotiable. So you can try and"},{"speaker":"Andrew Bean","startTime":2526.0,"endTime":2529.12,"body":"push the envelope. And what I"},{"speaker":"Andrew Bean","startTime":2526.0,"endTime":2529.12,"body":"like to actually do as well, is"},{"speaker":"Andrew Bean","startTime":2529.12,"endTime":2533.92,"body":"you're going with a more like,"},{"speaker":"Andrew Bean","startTime":2529.12,"endTime":2533.92,"body":"you know, aggressive, you know,"},{"speaker":"Andrew Bean","startTime":2533.92,"endTime":2537.61,"body":"due diligence and finance"},{"speaker":"Andrew Bean","startTime":2533.92,"endTime":2537.61,"body":"clause, on your side, like being"},{"speaker":"Andrew Bean","startTime":2537.61,"endTime":2541.51,"body":"like more extended out, like a"},{"speaker":"Andrew Bean","startTime":2537.61,"endTime":2541.51,"body":"larger finance clause and DD."},{"speaker":"Andrew Bean","startTime":2541.75,"endTime":2544.45,"body":"And then that can be a"},{"speaker":"Andrew Bean","startTime":2541.75,"endTime":2544.45,"body":"negotiating point for you that"},{"speaker":"Andrew Bean","startTime":2544.45,"endTime":2547.96,"body":"like when they say, Oh, we"},{"speaker":"Andrew Bean","startTime":2544.45,"endTime":2547.96,"body":"actually want you know, this"},{"speaker":"Andrew Bean","startTime":2547.96,"endTime":2551.41,"body":"price, well, then you can say,"},{"speaker":"Andrew Bean","startTime":2547.96,"endTime":2551.41,"body":"well, I want this amount of"},{"speaker":"Andrew Bean","startTime":2551.41,"endTime":2553.69,"body":"days, like you need to have some"},{"speaker":"Andrew Bean","startTime":2551.41,"endTime":2553.69,"body":"give and take with the"},{"speaker":"Andrew Bean","startTime":2553.69,"endTime":2557.65,"body":"negotiation. So you know, you're"},{"speaker":"Andrew Bean","startTime":2553.69,"endTime":2557.65,"body":"getting what you want. And"},{"speaker":"Andrew Bean","startTime":2557.65,"endTime":2561.22,"body":"realistically, you both have an"},{"speaker":"Andrew Bean","startTime":2557.65,"endTime":2561.22,"body":"aligned goal to sell the"},{"speaker":"Andrew Bean","startTime":2561.22,"endTime":2563.86,"body":"property, you want to buy it,"},{"speaker":"Andrew Bean","startTime":2561.22,"endTime":2563.86,"body":"they want to sell it. So there's"},{"speaker":"Andrew Bean","startTime":2563.86,"endTime":2567.61,"body":"no point putting one party in"},{"speaker":"Andrew Bean","startTime":2563.86,"endTime":2567.61,"body":"really, really tough, like hot"},{"speaker":"Andrew Bean","startTime":2567.61,"endTime":2570.7,"body":"water, just to try and, you"},{"speaker":"Andrew Bean","startTime":2567.61,"endTime":2570.7,"body":"know, meet the other party's"},{"speaker":"Andrew Bean","startTime":2570.7,"endTime":2573.1,"body":"needs. Because this is just"},{"speaker":"Andrew Bean","startTime":2570.7,"endTime":2573.1,"body":"because they want the money, you"},{"speaker":"Andrew Bean","startTime":2573.1,"endTime":2576.13,"body":"know, sooner, there's no real"},{"speaker":"Andrew Bean","startTime":2573.1,"endTime":2576.13,"body":"need for it to be sooner, but"},{"speaker":"Andrew Bean","startTime":2576.13,"endTime":2578.83,"body":"they just want it sooner. So"},{"speaker":"Andrew Bean","startTime":2576.13,"endTime":2578.83,"body":"it's better to be somewhat"},{"speaker":"Andrew Bean","startTime":2578.83,"endTime":2582.07,"body":"aligned to make sure the deal"},{"speaker":"Andrew Bean","startTime":2578.83,"endTime":2582.07,"body":"gets done on both sides."},{"speaker":"Victor Lagos","startTime":2582.19,"endTime":2585.61,"body":"Yeah, exactly. And"},{"speaker":"Victor Lagos","startTime":2582.19,"endTime":2585.61,"body":"the reality is, if you're"},{"speaker":"Victor Lagos","startTime":2585.61,"endTime":2588.7,"body":"competing with a with a cash"},{"speaker":"Victor Lagos","startTime":2585.61,"endTime":2588.7,"body":"buyer, then doesn't matter if"},{"speaker":"Victor Lagos","startTime":2588.7,"endTime":2592.3,"body":"it's 14 days, or 21 days, you're"},{"speaker":"Victor Lagos","startTime":2588.7,"endTime":2592.3,"body":"gonna lose out anyway. paying"},{"speaker":"Victor Lagos","startTime":2592.3,"endTime":2594.91,"body":"the price. So yeah, I agree with"},{"speaker":"Victor Lagos","startTime":2592.3,"endTime":2594.91,"body":"you."},{"speaker":"Andrew Bean","startTime":2595.21,"endTime":2598.84,"body":"Yeah, that's it. So"},{"speaker":"Andrew Bean","startTime":2595.21,"endTime":2598.84,"body":"mate with in terms of, you know,"},{"speaker":"Andrew Bean","startTime":2598.84,"endTime":2603.28,"body":"your service as well. If you"},{"speaker":"Andrew Bean","startTime":2598.84,"endTime":2603.28,"body":"bring if we bring a property to"},{"speaker":"Andrew Bean","startTime":2603.28,"endTime":2607.51,"body":"you, and you know, you're doing"},{"speaker":"Andrew Bean","startTime":2603.28,"endTime":2607.51,"body":"all your cash flow and"},{"speaker":"Andrew Bean","startTime":2607.51,"endTime":2611.68,"body":"assessment and stuff, do you"},{"speaker":"Andrew Bean","startTime":2607.51,"endTime":2611.68,"body":"give advice on the deal, like"},{"speaker":"Andrew Bean","startTime":2611.68,"endTime":2614.89,"body":"the returns are where they need"},{"speaker":"Andrew Bean","startTime":2611.68,"endTime":2614.89,"body":"to be, or the actual asset"},{"speaker":"Andrew Bean","startTime":2614.89,"endTime":2615.55,"body":"itself."},{"speaker":"Victor Lagos","startTime":2616.45,"endTime":2620.74,"body":"So I try not to"},{"speaker":"Victor Lagos","startTime":2616.45,"endTime":2620.74,"body":"mix up what I do, when it comes"},{"speaker":"Victor Lagos","startTime":2620.74,"endTime":2624.19,"body":"to I focus on the finance, like,"},{"speaker":"Victor Lagos","startTime":2620.74,"endTime":2624.19,"body":"that's what I'm here for, I"},{"speaker":"Victor Lagos","startTime":2624.19,"endTime":2627.94,"body":"don't give advice on if that's a"},{"speaker":"Victor Lagos","startTime":2624.19,"endTime":2627.94,"body":"good investment. If that's the"},{"speaker":"Victor Lagos","startTime":2627.94,"endTime":2630.4,"body":"right area you should buy, if"},{"speaker":"Victor Lagos","startTime":2627.94,"endTime":2630.4,"body":"that's the right return you"},{"speaker":"Victor Lagos","startTime":2630.4,"endTime":2634.72,"body":"should get. All I'll do is just"},{"speaker":"Victor Lagos","startTime":2630.4,"endTime":2634.72,"body":"plug the numbers in and say, if"},{"speaker":"Victor Lagos","startTime":2635.17,"endTime":2639.46,"body":"the rent is XML, it can allow"},{"speaker":"Victor Lagos","startTime":2635.17,"endTime":2639.46,"body":"you to buy up to X amount price,"},{"speaker":"Victor Lagos","startTime":2640.27,"endTime":2644.02,"body":"initially, but then when they"},{"speaker":"Victor Lagos","startTime":2640.27,"endTime":2644.02,"body":"present a deal to me, they're"},{"speaker":"Victor Lagos","startTime":2644.02,"endTime":2647.38,"body":"gonna tell me that this is the"},{"speaker":"Victor Lagos","startTime":2644.02,"endTime":2647.38,"body":"exact address, this is the"},{"speaker":"Victor Lagos","startTime":2647.38,"endTime":2650.83,"body":"lease, this is the tenant. This"},{"speaker":"Victor Lagos","startTime":2647.38,"endTime":2650.83,"body":"is how much the rent is and who"},{"speaker":"Victor Lagos","startTime":2650.83,"endTime":2655.0,"body":"comes the outgoings, etc. I'll"},{"speaker":"Victor Lagos","startTime":2650.83,"endTime":2655.0,"body":"put the same numbers in to the"},{"speaker":"Victor Lagos","startTime":2655.0,"endTime":2658.24,"body":"calculator to the funding"},{"speaker":"Victor Lagos","startTime":2655.0,"endTime":2658.24,"body":"worksheet to say, how much are"},{"speaker":"Victor Lagos","startTime":2658.24,"endTime":2661.66,"body":"you going to contribute? And"},{"speaker":"Victor Lagos","startTime":2658.24,"endTime":2661.66,"body":"what's the cash flow going to"},{"speaker":"Victor Lagos","startTime":2661.66,"endTime":2664.81,"body":"look like? So this is what I"},{"speaker":"Victor Lagos","startTime":2661.66,"endTime":2664.81,"body":"like about commercial property,"},{"speaker":"Victor Lagos","startTime":2664.9,"endTime":2668.08,"body":"because you know that the"},{"speaker":"Victor Lagos","startTime":2664.9,"endTime":2668.08,"body":"outgoings what they are and who"},{"speaker":"Victor Lagos","startTime":2668.08,"endTime":2671.23,"body":"covers them, so you can know"},{"speaker":"Victor Lagos","startTime":2668.08,"endTime":2671.23,"body":"what your cash flow position is"},{"speaker":"Victor Lagos","startTime":2671.23,"endTime":2675.28,"body":"upfront, even before you buy a"},{"speaker":"Victor Lagos","startTime":2671.23,"endTime":2675.28,"body":"property, whereas residential,"},{"speaker":"Victor Lagos","startTime":2675.31,"endTime":2678.64,"body":"you know, you're guessing you"},{"speaker":"Victor Lagos","startTime":2675.31,"endTime":2678.64,"body":"can estimate what the insurance"},{"speaker":"Victor Lagos","startTime":2678.64,"endTime":2682.87,"body":"is or what the agent fees are"},{"speaker":"Victor Lagos","startTime":2678.64,"endTime":2682.87,"body":"going to be council rates, etc."},{"speaker":"Victor Lagos","startTime":2682.87,"endTime":2686.74,"body":"But it's never exact. And"},{"speaker":"Victor Lagos","startTime":2682.87,"endTime":2686.74,"body":"maintenance always seems to pop"},{"speaker":"Victor Lagos","startTime":2686.74,"endTime":2688.75,"body":"up when you buy a residential"},{"speaker":"Victor Lagos","startTime":2686.74,"endTime":2688.75,"body":"property, right. Something's got"},{"speaker":"Victor Lagos","startTime":2688.75,"endTime":2692.8,"body":"to be fixed. Yeah. And so"},{"speaker":"Victor Lagos","startTime":2688.75,"endTime":2692.8,"body":"whereas with commercial, you"},{"speaker":"Victor Lagos","startTime":2692.8,"endTime":2695.83,"body":"know, that upfront so then if"},{"speaker":"Victor Lagos","startTime":2692.8,"endTime":2695.83,"body":"you know what your cash flow"},{"speaker":"Victor Lagos","startTime":2695.83,"endTime":2698.62,"body":"position is going to be, that's"},{"speaker":"Victor Lagos","startTime":2695.83,"endTime":2698.62,"body":"how you make the informed"},{"speaker":"Victor Lagos","startTime":2698.62,"endTime":2701.62,"body":"decision. Do I Want to actually"},{"speaker":"Victor Lagos","startTime":2698.62,"endTime":2701.62,"body":"buy this property because this"},{"speaker":"Victor Lagos","startTime":2701.62,"endTime":2704.23,"body":"was what was gonna cost me per"},{"speaker":"Victor Lagos","startTime":2701.62,"endTime":2704.23,"body":"week or this how much it's going"},{"speaker":"Victor Lagos","startTime":2704.23,"endTime":2709.33,"body":"to earn me per week. And then if"},{"speaker":"Victor Lagos","startTime":2704.23,"endTime":2709.33,"body":"we're at a point where they're"},{"speaker":"Victor Lagos","startTime":2709.36,"endTime":2712.57,"body":"going to sign a contract, or"},{"speaker":"Victor Lagos","startTime":2709.36,"endTime":2712.57,"body":"they're going to put an offer in"},{"speaker":"Victor Lagos","startTime":2712.63,"endTime":2717.58,"body":"to sign a contract, I will go to"},{"speaker":"Victor Lagos","startTime":2712.63,"endTime":2717.58,"body":"the bank that I've been"},{"speaker":"Victor Lagos","startTime":2717.58,"endTime":2721.0,"body":"presenting the, you know, that"},{"speaker":"Victor Lagos","startTime":2717.58,"endTime":2721.0,"body":"interest rate and those"},{"speaker":"Victor Lagos","startTime":2721.0,"endTime":2724.36,"body":"repayments on and I'll, I'll"},{"speaker":"Victor Lagos","startTime":2721.0,"endTime":2724.36,"body":"make sure that that property is"},{"speaker":"Victor Lagos","startTime":2724.36,"endTime":2727.72,"body":"actually acceptable as security."},{"speaker":"Victor Lagos","startTime":2724.36,"endTime":2727.72,"body":"Sometimes you don't know that"},{"speaker":"Victor Lagos","startTime":2727.75,"endTime":2731.59,"body":"actually locations not the best"},{"speaker":"Victor Lagos","startTime":2727.75,"endTime":2731.59,"body":"one yet, or they're overexposed"},{"speaker":"Victor Lagos","startTime":2731.62,"endTime":2735.16,"body":"to that area, whatnot. So then I"},{"speaker":"Victor Lagos","startTime":2731.62,"endTime":2735.16,"body":"just make sure that they okay"},{"speaker":"Victor Lagos","startTime":2735.16,"endTime":2739.72,"body":"with the property, okay with the"},{"speaker":"Victor Lagos","startTime":2735.16,"endTime":2739.72,"body":"tenant, and that the offer still"},{"speaker":"Victor Lagos","startTime":2739.72,"endTime":2743.74,"body":"stands, if you're going to a big"},{"speaker":"Victor Lagos","startTime":2739.72,"endTime":2743.74,"body":"bank, they usually have to give"},{"speaker":"Victor Lagos","startTime":2743.74,"endTime":2748.06,"body":"an indicative of, like, it's not"},{"speaker":"Victor Lagos","startTime":2743.74,"endTime":2748.06,"body":"just what's called a current"},{"speaker":"Victor Lagos","startTime":2748.06,"endTime":2751.24,"body":"rate, which is an advertised"},{"speaker":"Victor Lagos","startTime":2748.06,"endTime":2751.24,"body":"interest rate, they actually"},{"speaker":"Victor Lagos","startTime":2751.24,"endTime":2754.6,"body":"have to get a pricing approval"},{"speaker":"Victor Lagos","startTime":2751.24,"endTime":2754.6,"body":"from a specific area, like"},{"speaker":"Victor Lagos","startTime":2754.6,"endTime":2758.68,"body":"Treasury or whatnot. And I want"},{"speaker":"Victor Lagos","startTime":2754.6,"endTime":2758.68,"body":"to make sure that that's still"},{"speaker":"Victor Lagos","startTime":2758.68,"endTime":2761.5,"body":"valid. So if that time has"},{"speaker":"Victor Lagos","startTime":2758.68,"endTime":2761.5,"body":"passed, and other month, two"},{"speaker":"Victor Lagos","startTime":2761.5,"endTime":2765.31,"body":"months has passed, that rate"},{"speaker":"Victor Lagos","startTime":2761.5,"endTime":2765.31,"body":"would have changed a lot. That's"},{"speaker":"Victor Lagos","startTime":2765.31,"endTime":2768.46,"body":"gonna affect the cash flow."},{"speaker":"Victor Lagos","startTime":2765.31,"endTime":2768.46,"body":"That's gonna affect potentially"},{"speaker":"Victor Lagos","startTime":2768.46,"endTime":2772.12,"body":"the purchase price, depending"},{"speaker":"Victor Lagos","startTime":2768.46,"endTime":2772.12,"body":"how, how reliant we are on the"},{"speaker":"Victor Lagos","startTime":2772.12,"endTime":2777.91,"body":"rent, to cover the actual"},{"speaker":"Victor Lagos","startTime":2772.12,"endTime":2777.91,"body":"interest. So then I go back to"},{"speaker":"Victor Lagos","startTime":2777.91,"endTime":2781.48,"body":"them and say, yep, probably is"},{"speaker":"Victor Lagos","startTime":2777.91,"endTime":2781.48,"body":"acceptable. This what the"},{"speaker":"Victor Lagos","startTime":2781.48,"endTime":2784.06,"body":"numbers look like now, this"},{"speaker":"Victor Lagos","startTime":2781.48,"endTime":2784.06,"body":"would potential cash flow looks"},{"speaker":"Victor Lagos","startTime":2784.06,"endTime":2789.28,"body":"like now. It's up to you now."},{"speaker":"Victor Lagos","startTime":2784.06,"endTime":2789.28,"body":"You know, do your offer. And if"},{"speaker":"Victor Lagos","startTime":2789.28,"endTime":2792.37,"body":"they do, we get a contract for"},{"speaker":"Victor Lagos","startTime":2789.28,"endTime":2792.37,"body":"sale, we turn it into an"},{"speaker":"Victor Lagos","startTime":2792.37,"endTime":2794.74,"body":"application for me on"},{"speaker":"Victor Lagos","startTime":2792.37,"endTime":2794.74,"body":"evaluations and whatnot."},{"speaker":"Andrew Bean","startTime":2795.49,"endTime":2797.2,"body":"All right, so let's"},{"speaker":"Andrew Bean","startTime":2795.49,"endTime":2797.2,"body":"assume we've got a property"},{"speaker":"Andrew Bean","startTime":2797.98,"endTime":2802.63,"body":"offer accepted on a commercial"},{"speaker":"Andrew Bean","startTime":2797.98,"endTime":2802.63,"body":"property. Right. So what"},{"speaker":"Andrew Bean","startTime":2802.84,"endTime":2807.61,"body":"documentation do you usually"},{"speaker":"Andrew Bean","startTime":2802.84,"endTime":2807.61,"body":"request from your client to give"},{"speaker":"Andrew Bean","startTime":2807.61,"endTime":2810.85,"body":"to the bank? Is it just the I"},{"speaker":"Andrew Bean","startTime":2807.61,"endTime":2810.85,"body":"Am? Or what else do you usually"},{"speaker":"Andrew Bean","startTime":2810.85,"endTime":2813.91,"body":"need? With the property? Maybe"},{"speaker":"Andrew Bean","startTime":2810.85,"endTime":2813.91,"body":"the contract of sale the lease,"},{"speaker":"Andrew Bean","startTime":2813.91,"endTime":2815.38,"body":"things like that? Yeah, exactly."},{"speaker":"Victor Lagos","startTime":2815.44,"endTime":2817.42,"body":"Contract of Sale."},{"speaker":"Victor Lagos","startTime":2815.44,"endTime":2817.42,"body":"And lease is like number one."},{"speaker":"Victor Lagos","startTime":2817.84,"endTime":2821.68,"body":"Okay. And then for them, I need"},{"speaker":"Victor Lagos","startTime":2817.84,"endTime":2821.68,"body":"to identify them. And depending"},{"speaker":"Victor Lagos","startTime":2821.68,"endTime":2825.01,"body":"on, you know, the type of loan"},{"speaker":"Victor Lagos","startTime":2821.68,"endTime":2825.01,"body":"contract, if it's a lease stock,"},{"speaker":"Victor Lagos","startTime":2825.1,"endTime":2828.28,"body":"then I just need a statement of"},{"speaker":"Victor Lagos","startTime":2825.1,"endTime":2828.28,"body":"assets and financial position"},{"speaker":"Victor Lagos","startTime":2828.28,"endTime":2830.02,"body":"sorry, statement of financial"},{"speaker":"Victor Lagos","startTime":2828.28,"endTime":2830.02,"body":"position, which should just say"},{"speaker":"Victor Lagos","startTime":2830.02,"endTime":2834.64,"body":"assets and liabilities, signed"},{"speaker":"Victor Lagos","startTime":2830.02,"endTime":2834.64,"body":"privacy form. And, yeah, it's"},{"speaker":"Victor Lagos","startTime":2834.64,"endTime":2838.93,"body":"very limited documentation ID."},{"speaker":"Victor Lagos","startTime":2834.64,"endTime":2838.93,"body":"But if, if it's a full dock"},{"speaker":"Victor Lagos","startTime":2838.93,"endTime":2842.56,"body":"loan, and then we need all their"},{"speaker":"Victor Lagos","startTime":2838.93,"endTime":2842.56,"body":"income as well, the stuff we"},{"speaker":"Victor Lagos","startTime":2842.56,"endTime":2845.86,"body":"talked about statements, pay"},{"speaker":"Victor Lagos","startTime":2842.56,"endTime":2845.86,"body":"slips, tax returns, etc."},{"speaker":"Andrew Bean","startTime":2846.31,"endTime":2849.1,"body":"But just for the"},{"speaker":"Andrew Bean","startTime":2846.31,"endTime":2849.1,"body":"property, so like, with the I am"},{"speaker":"Andrew Bean","startTime":2849.1,"endTime":2851.53,"body":"actually stuck up with the bank,"},{"speaker":"Andrew Bean","startTime":2849.1,"endTime":2851.53,"body":"like, can you just send them the"},{"speaker":"Andrew Bean","startTime":2851.53,"endTime":2854.14,"body":"I Am and they go, you know,"},{"speaker":"Andrew Bean","startTime":2851.53,"endTime":2854.14,"body":"okay, but is that something that"},{"speaker":"Andrew Bean","startTime":2854.14,"endTime":2855.37,"body":"they would request?"},{"speaker":"Victor Lagos","startTime":2855.85,"endTime":2858.31,"body":"Well, the I Am is"},{"speaker":"Victor Lagos","startTime":2855.85,"endTime":2858.31,"body":"usually if it's if you don't"},{"speaker":"Victor Lagos","startTime":2858.31,"endTime":2860.11,"body":"have like tenant in there"},{"speaker":"Andrew Bean","startTime":2860.38,"endTime":2863.53,"body":"yet. Well,"},{"speaker":"Andrew Bean","startTime":2860.38,"endTime":2863.53,"body":"automation Memorandum of the of"},{"speaker":"Andrew Bean","startTime":2863.53,"endTime":2865.81,"body":"the property, so it could be"},{"speaker":"Andrew Bean","startTime":2863.53,"endTime":2865.81,"body":"listing out the tenants, it"},{"speaker":"Andrew Bean","startTime":2865.81,"endTime":2868.57,"body":"could be listed your list, I am"},{"speaker":"Andrew Bean","startTime":2865.81,"endTime":2868.57,"body":"usually list out everything"},{"speaker":"Andrew Bean","startTime":2868.57,"endTime":2870.13,"body":"about the investment. Yeah,"},{"speaker":"Victor Lagos","startTime":2870.16,"endTime":2873.22,"body":"yeah. Well, that's"},{"speaker":"Victor Lagos","startTime":2870.16,"endTime":2873.22,"body":"the bank doesn't care too much"},{"speaker":"Victor Lagos","startTime":2873.22,"endTime":2876.64,"body":"about all of that, because a lot"},{"speaker":"Victor Lagos","startTime":2873.22,"endTime":2876.64,"body":"of that is to help, you know,"},{"speaker":"Victor Lagos","startTime":2876.64,"endTime":2879.67,"body":"the investor make an informed"},{"speaker":"Victor Lagos","startTime":2876.64,"endTime":2879.67,"body":"decision. They just care about"},{"speaker":"Victor Lagos","startTime":2879.67,"endTime":2882.43,"body":"what's what's the lease term,"},{"speaker":"Victor Lagos","startTime":2879.67,"endTime":2882.43,"body":"and who's the tenant? And what's"},{"speaker":"Victor Lagos","startTime":2882.43,"endTime":2886.0,"body":"the rent mount and who pays the"},{"speaker":"Victor Lagos","startTime":2882.43,"endTime":2886.0,"body":"outgoings? So the lease usually"},{"speaker":"Victor Lagos","startTime":2886.0,"endTime":2890.62,"body":"covers that. The I Am will"},{"speaker":"Victor Lagos","startTime":2886.0,"endTime":2890.62,"body":"obviously go into more detail,"},{"speaker":"Victor Lagos","startTime":2891.94,"endTime":2895.3,"body":"you know, the location and the"},{"speaker":"Victor Lagos","startTime":2891.94,"endTime":2895.3,"body":"potential for for growth and"},{"speaker":"Victor Lagos","startTime":2895.3,"endTime":2899.38,"body":"whatnot, as well. But yeah,"},{"speaker":"Victor Lagos","startTime":2895.3,"endTime":2899.38,"body":"look, realistically, the bank"},{"speaker":"Victor Lagos","startTime":2899.38,"endTime":2902.65,"body":"will give an okay, with knowing"},{"speaker":"Victor Lagos","startTime":2899.38,"endTime":2902.65,"body":"the lease terms, knowing the"},{"speaker":"Victor Lagos","startTime":2902.65,"endTime":2906.1,"body":"purchase price. And of course,"},{"speaker":"Victor Lagos","startTime":2902.65,"endTime":2906.1,"body":"the actual property itself."},{"speaker":"Victor Lagos","startTime":2906.49,"endTime":2908.56,"body":"They'll do their own due"},{"speaker":"Victor Lagos","startTime":2906.49,"endTime":2908.56,"body":"diligence to make sure it's"},{"speaker":"Victor Lagos","startTime":2908.56,"endTime":2909.1,"body":"acceptable."},{"speaker":"Andrew Bean","startTime":2909.76,"endTime":2913.0,"body":"Yeah, fair enough."},{"speaker":"Andrew Bean","startTime":2909.76,"endTime":2913.0,"body":"All right. So I guess now that"},{"speaker":"Andrew Bean","startTime":2913.0,"endTime":2915.85,"body":"you've listened to all of this,"},{"speaker":"Andrew Bean","startTime":2913.0,"endTime":2915.85,"body":"you guys know how difficult it"},{"speaker":"Andrew Bean","startTime":2915.85,"endTime":2918.85,"body":"is, and how many documents and"},{"speaker":"Andrew Bean","startTime":2915.85,"endTime":2918.85,"body":"all the crazy things that you"},{"speaker":"Andrew Bean","startTime":2918.85,"endTime":2923.44,"body":"need to, you know, get some"},{"speaker":"Andrew Bean","startTime":2918.85,"endTime":2923.44,"body":"finance. So going to Victor and"},{"speaker":"Andrew Bean","startTime":2923.44,"endTime":2926.14,"body":"getting him to do it is a no"},{"speaker":"Andrew Bean","startTime":2923.44,"endTime":2926.14,"body":"brainer. And plus, it doesn't"},{"speaker":"Andrew Bean","startTime":2926.14,"endTime":2928.81,"body":"cost you any money right up"},{"speaker":"Andrew Bean","startTime":2926.14,"endTime":2928.81,"body":"front. So actually, it all does"},{"speaker":"Andrew Bean","startTime":2928.81,"endTime":2929.92,"body":"it because the banks pay you."},{"speaker":"Victor Lagos","startTime":2930.55,"endTime":2934.12,"body":"Yeah, yeah,"},{"speaker":"Victor Lagos","startTime":2930.55,"endTime":2934.12,"body":"exactly. Right. So there is an"},{"speaker":"Victor Lagos","startTime":2934.12,"endTime":2937.54,"body":"opportunity where I can charge,"},{"speaker":"Victor Lagos","startTime":2934.12,"endTime":2937.54,"body":"but it all depends on the"},{"speaker":"Victor Lagos","startTime":2937.54,"endTime":2942.37,"body":"complexity, and the timeframe."},{"speaker":"Victor Lagos","startTime":2937.54,"endTime":2942.37,"body":"And most of the time, if it's"},{"speaker":"Victor Lagos","startTime":2943.96,"endTime":2946.15,"body":"because the banks are just gonna"},{"speaker":"Victor Lagos","startTime":2943.96,"endTime":2946.15,"body":"pay me a commission eventually,"},{"speaker":"Victor Lagos","startTime":2946.3,"endTime":2949.78,"body":"right? But if there's a lot of"},{"speaker":"Victor Lagos","startTime":2946.3,"endTime":2949.78,"body":"legwork that needs to be done"},{"speaker":"Victor Lagos","startTime":2949.78,"endTime":2951.88,"body":"upfront, and I know that"},{"speaker":"Victor Lagos","startTime":2949.78,"endTime":2951.88,"body":"customers not going to do"},{"speaker":"Victor Lagos","startTime":2951.88,"endTime":2954.61,"body":"anything for next 12 months,"},{"speaker":"Victor Lagos","startTime":2951.88,"endTime":2954.61,"body":"well, I gotta be conscious of"},{"speaker":"Victor Lagos","startTime":2954.61,"endTime":2957.91,"body":"the time, right? So what I can"},{"speaker":"Victor Lagos","startTime":2954.61,"endTime":2957.91,"body":"potentially do is, is charge a"},{"speaker":"Victor Lagos","startTime":2957.91,"endTime":2962.02,"body":"mandate fee, which is basically"},{"speaker":"Victor Lagos","startTime":2957.91,"endTime":2962.02,"body":"to work on on the on the deal."},{"speaker":"Victor Lagos","startTime":2962.44,"endTime":2965.44,"body":"And then in the future, when I"},{"speaker":"Victor Lagos","startTime":2962.44,"endTime":2965.44,"body":"get paid a commission, they get"},{"speaker":"Victor Lagos","startTime":2965.44,"endTime":2969.16,"body":"reimbursed that Alright, so it's"},{"speaker":"Victor Lagos","startTime":2965.44,"endTime":2969.16,"body":"just actually, you know, it's"},{"speaker":"Victor Lagos","startTime":2969.16,"endTime":2970.63,"body":"also skin in the game as well."},{"speaker":"Andrew Bean","startTime":2970.99,"endTime":2973.63,"body":"Yeah, it's like a"},{"speaker":"Andrew Bean","startTime":2970.99,"endTime":2973.63,"body":"retainer. Yeah, correct. Yeah."},{"speaker":"Andrew Bean","startTime":2973.63,"endTime":2979.84,"body":"Okay. Awesome, mate. So, did you"},{"speaker":"Andrew Bean","startTime":2973.63,"endTime":2979.84,"body":"want to put together a list of"},{"speaker":"Andrew Bean","startTime":2979.87,"endTime":2981.82,"body":"documents that you need? Or do"},{"speaker":"Andrew Bean","startTime":2979.87,"endTime":2981.82,"body":"you not want to do that? And"},{"speaker":"Andrew Bean","startTime":2981.82,"endTime":2984.61,"body":"this doesn't have to be I'll"},{"speaker":"Andrew Bean","startTime":2981.82,"endTime":2984.61,"body":"edit this out. Do you want me to"},{"speaker":"Andrew Bean","startTime":2984.61,"endTime":2985.45,"body":"talk about it or not?"},{"speaker":"Victor Lagos","startTime":2986.53,"endTime":2990.16,"body":"We can. Yeah,"},{"speaker":"Victor Lagos","startTime":2986.53,"endTime":2990.16,"body":"that's a good question, talk,"},{"speaker":"Victor Lagos","startTime":2990.19,"endTime":2990.55,"body":"talk to"},{"speaker":"Andrew Bean","startTime":2990.55,"endTime":2993.25,"body":"you, maybe give you"},{"speaker":"Andrew Bean","startTime":2990.55,"endTime":2993.25,"body":"a call or send you an email to,"},{"speaker":"Andrew Bean","startTime":2993.76,"endTime":2996.58,"body":"you know, see what documents you"},{"speaker":"Andrew Bean","startTime":2993.76,"endTime":2996.58,"body":"would need or something like"},{"speaker":"Andrew Bean","startTime":2996.58,"endTime":2997.42,"body":"that. Or yeah,"},{"speaker":"Victor Lagos","startTime":2997.45,"endTime":3000.0,"body":"I think there'll"},{"speaker":"Victor Lagos","startTime":2997.45,"endTime":3000.0,"body":"be a good way to actually read"},{"speaker":"Victor Lagos","startTime":3000.0,"endTime":3004.05,"body":"Shout out to me. So connect with"},{"speaker":"Victor Lagos","startTime":3000.0,"endTime":3004.05,"body":"me via email or, you know, the"},{"speaker":"Victor Lagos","startTime":3004.05,"endTime":3007.44,"body":"contact us form. And just give"},{"speaker":"Victor Lagos","startTime":3004.05,"endTime":3007.44,"body":"me a breakdown of your situation"},{"speaker":"Victor Lagos","startTime":3007.44,"endTime":3009.96,"body":"and what you're looking at"},{"speaker":"Victor Lagos","startTime":3007.44,"endTime":3009.96,"body":"achieving. And I'll create a"},{"speaker":"Victor Lagos","startTime":3009.96,"endTime":3011.07,"body":"custom document list."},{"speaker":"Andrew Bean","startTime":3011.43,"endTime":3015.06,"body":"Yeah, okay. All"},{"speaker":"Andrew Bean","startTime":3011.43,"endTime":3015.06,"body":"right, cool. All right, guys. So"},{"speaker":"Andrew Bean","startTime":3015.09,"endTime":3019.44,"body":"if you do want to find out what"},{"speaker":"Andrew Bean","startTime":3015.09,"endTime":3019.44,"body":"documents you will need, or you"},{"speaker":"Andrew Bean","startTime":3019.44,"endTime":3022.8,"body":"will require to get lending,"},{"speaker":"Andrew Bean","startTime":3019.44,"endTime":3022.8,"body":"then we can suggest that you"},{"speaker":"Andrew Bean","startTime":3022.8,"endTime":3027.06,"body":"just give Victor a call email or"},{"speaker":"Andrew Bean","startTime":3022.8,"endTime":3027.06,"body":"contact form on his website, and"},{"speaker":"Andrew Bean","startTime":3027.06,"endTime":3030.72,"body":"he actually will put together a"},{"speaker":"Andrew Bean","startTime":3027.06,"endTime":3030.72,"body":"custom list for you based on"},{"speaker":"Andrew Bean","startTime":3030.72,"endTime":3034.59,"body":"your situation. So, you know,"},{"speaker":"Andrew Bean","startTime":3030.72,"endTime":3034.59,"body":"you won't be trawling through a"},{"speaker":"Andrew Bean","startTime":3034.59,"endTime":3037.83,"body":"massive list of documents that"},{"speaker":"Andrew Bean","startTime":3034.59,"endTime":3037.83,"body":"you basically don't always need"},{"speaker":"Andrew Bean","startTime":3037.83,"endTime":3040.98,"body":"to send. Victor, we'll just"},{"speaker":"Andrew Bean","startTime":3037.83,"endTime":3040.98,"body":"customize that list. Right,"},{"speaker":"Andrew Bean","startTime":3040.98,"endTime":3041.61,"body":"right, Victor."},{"speaker":"Victor Lagos","startTime":3041.79,"endTime":3044.22,"body":"Yeah, exactly. At"},{"speaker":"Victor Lagos","startTime":3041.79,"endTime":3044.22,"body":"least his preparation for you."},{"speaker":"Victor Lagos","startTime":3044.25,"endTime":3046.41,"body":"So you can start gathering"},{"speaker":"Victor Lagos","startTime":3044.25,"endTime":3046.41,"body":"everything. And then when you"},{"speaker":"Victor Lagos","startTime":3046.41,"endTime":3048.93,"body":"are ready to apply, you know"},{"speaker":"Victor Lagos","startTime":3046.41,"endTime":3048.93,"body":"exactly what to send, because"},{"speaker":"Victor Lagos","startTime":3048.93,"endTime":3051.99,"body":"you've got it all put aside. And"},{"speaker":"Victor Lagos","startTime":3048.93,"endTime":3051.99,"body":"it just expedites the process"},{"speaker":"Victor Lagos","startTime":3051.99,"endTime":3052.29,"body":"for you."},{"speaker":"Andrew Bean","startTime":3053.37,"endTime":3055.44,"body":"Oh, my Oh,"},{"speaker":"Andrew Bean","startTime":3053.37,"endTime":3055.44,"body":"fantastic. Well, let's wrap it"},{"speaker":"Andrew Bean","startTime":3055.44,"endTime":3061.41,"body":"up there. This is the financial"},{"speaker":"Andrew Bean","startTime":3055.44,"endTime":3061.41,"body":"freedom series with financial"},{"speaker":"Andrew Bean","startTime":3061.41,"endTime":3066.0,"body":"expert Victor Lagos. Mate, where"},{"speaker":"Andrew Bean","startTime":3061.41,"endTime":3066.0,"body":"can the listeners go to find out"},{"speaker":"Andrew Bean","startTime":3066.0,"endTime":3067.62,"body":"more about you and your"},{"speaker":"Andrew Bean","startTime":3066.0,"endTime":3067.62,"body":"services?"},{"speaker":"Victor Lagos","startTime":3067.95,"endTime":3070.68,"body":"You can find me on"},{"speaker":"Victor Lagos","startTime":3067.95,"endTime":3070.68,"body":"my website, which is Loggos"},{"speaker":"Victor Lagos","startTime":3070.68,"endTime":3075.33,"body":"financial.com.au. You can also"},{"speaker":"Victor Lagos","startTime":3070.68,"endTime":3075.33,"body":"just google search Loggos"},{"speaker":"Victor Lagos","startTime":3075.33,"endTime":3078.69,"body":"Panchakarma. And I've also got"},{"speaker":"Victor Lagos","startTime":3075.33,"endTime":3078.69,"body":"my own podcast, which is called"},{"speaker":"Victor Lagos","startTime":3078.69,"endTime":3081.78,"body":"debt to financial freedom. So"},{"speaker":"Victor Lagos","startTime":3078.69,"endTime":3081.78,"body":"you can search that on all the"},{"speaker":"Victor Lagos","startTime":3081.81,"endTime":3084.54,"body":"podcasting podcasting platforms"},{"speaker":"Victor Lagos","startTime":3081.81,"endTime":3084.54,"body":"as well as YouTube."},{"speaker":"Andrew Bean","startTime":3084.99,"endTime":3087.99,"body":"Yep, definitely go"},{"speaker":"Andrew Bean","startTime":3084.99,"endTime":3087.99,"body":"check that out guys. All right."},{"speaker":"Andrew Bean","startTime":3087.99,"endTime":3091.95,"body":"This has been financial expert"},{"speaker":"Andrew Bean","startTime":3087.99,"endTime":3091.95,"body":"Victor Lagos and Andrew been on"},{"speaker":"Andrew Bean","startTime":3091.95,"endTime":3095.52,"body":"the financial freedom series."},{"speaker":"Andrew Bean","startTime":3091.95,"endTime":3095.52,"body":"Cheers, everyone, to everyone."}]}