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🎧 Real deals, real strategies, real results. Learn how to find, fund, and operate profitable property plays from someone who’s actually done it.
Hosted by Andrew Wright, principal of Professionals Southport and a commercial investor who rebuilt after losing a ~$15M portfolio during the GFC, this podcast gives you a straight-talking look at what it really takes to build wealth through property.
Each episode delivers practical frameworks, real deal breakdowns, and honest conversations with high-performing investors and operators across residential and commercial.
But it’s bigger than the episodes. The goal is to build a community of like-minded investors who share stories, swap insights, help each other grow and maybe even do deals together.
🔗 Join the community & learn more - leave your email at: www.andrewwrightproperty.com.au
📍 Connect with Andrew: hello@andrewwrightproperty.com.au
That we can control a property without necessarily owning it. All of the media is talking doom and gloom and, uh, when they start to do that, what tends to happen is that market sentiment drops and as soon as market sentiment drops, it becomes a self-fulfilling prophecy. The truth of it though, is that as property developers, we make money by solving problems.
So what we wanna do is understand what is the problem of that vendor right here, right now. The budget de-incentivized investors to buy existing stock, which means that there is less people competing for that stock.
So where are you seeing opportunities right now, Rob?
By far the biggest I would say would be
Hi, I'm Andrew Wright, principal of Professional Southport, and this is the Andrew Wright Property Podcast. I've built a multimillion-dollar property portfolio, delivering a seven-figure annual rental income, and led my real estate team through thousands of sale and lease transactions. In each episode, I share real deals and strategies that will help you find, fund, and operate profitable property deals.
The aim of this show is to provide education and build a community of like-minded investors who can collaborate, share insights, and help each other in each other's journeys. You can make excuses or you can make money, but you can't do both, so come and join us
G'day, Rob, and welcome to the Andrew Wright Property Podcast. How are you, mate? Tell us the truth.
Good, Andrew, mate. Uh, well, tell you the truth, I'm actually crook as a dog, to, to tell you the truth. Um, uh, but, uh, nothing's gonna stop me, uh, I guess, adding value to this conversation, mate.
Thank you very much.
So just for the listeners, uh, who don't know Rob, a lot of our listeners are developers and a lot of them are just straight property investors. Uh, Rob is the founder of Property Developer Network, which is Australia's largest network, and Rob runs around the country doing in-person meetups, trying to get people together, investors and developers, and he also runs a heap of online training courses.
Can you expand on that, Rob, just so that the people that don't know you can learn what you do?
Yeah. I might go back in time a little bit, Andrew. Um, uh, I started out as a property investor. Uh, so bought my first house at 18, my first investment property at 21. I owned my first house outright at 24. Uh, and investing using traditional negative gearing was the, the path that I had chosen.
Uh, and I did that for about 20 years. Uh, and, uh, on paper, I guess I was financially free. Uh, but regrettably, about six months before I pulled the trigger to, uh, to withdraw, um, uh, a different trigger was pulled and I ended up getting divorced. And so, I had to put all my toys back in the center and we had to start again.
And because it had taken me 20 years to get to that point, uh, I decided I didn't want to wait 20 years to do it again. And I thought, if I learn this property development game, then I could force value onto a property, manufacture profits rather than being reliant on the market. Uh, and so I set about, uh, trying to educate myself in that space.
I spent about 120,000 at the time on my education. I've, I've spent a lot since then. Uh, uh, but what I found at the end is a lot of the courses out there were very generic. Um, they motivated it and inspired you that it was possible, but they didn't really give you the how-to step by step, you know, not just can it be done, but more importantly, should it be done.
And, and what we were finding is that 90% of all the deals that were out there just weren't profitable. And so I got five mates around my kitchen table and, uh, we just started to help each other's deals move forward. Uh, and as a mate invited a mate and they invited another mate, um, that's when, uh, uh, Property Developer Network started.
We, we like to call it PDN. Um, first meeting officially was 17 people in the Brisbane City Council Library. We are now 38,000 people strong. Uh, we, uh, run events in five states. We run 55 events a year, uh, and we always get industry experts in town planners, civil engineers, architects, to, uh, help people understand their issues and challenges.
And we also get people sharing their deals, so you get to learn from the good, the bad, and the ugly of a project. And then we recreate that kitchen table experience to try and help each other's property journey move. And I think that is the secret of the success of, uh, everything that actually happens there, is that Uh, everyone has a pay it forward approach, help each other.
Uh, there are plenty of deals for everyone. Um, we don't need to be holding onto the deals for ourselves. Uh, and if you have an abundance methodology, uh, or, or approach, then, uh, everything works, mate.
Yeah. I- I'd argue that there's another bit of the formula for your success, and that is not just running these things, but the frequency and consistency.
I mean, you are online all the time. I'm always clicking on YouTube, Rob Flux, Rob Flux. Like you're just com- clearly disciplined to this education piece around property development.
Uh, yeah. Look, it's really just trying to, uh, pass the lessons forward that I have learnt along the way so that other people don't make the mistakes that I made.
And, uh, even today, so I've been in this game now for 37 years, so 20 as an investor and 17 as a developer. Um, even today, I'm still learning every single day. Th- there is no day where I don't learn something new. Um, and at the moment you think you know everything, that's the day you're gonna blow yourself up
Absolutely.
So right now, Rob, um, we're going to talk today about opportunities that are in the current market. But how did we d- actually get here? Obviously, there's been a lot of social media feedback around the budget and the interest rate hikes and residential property in particular going backward in value at this point in time.
How did we get here, mate, and what's, what's your outlook?
Look, uh, it would be fair to say that the market is struggling, um, and that, uh, all of the media is talking doom and gloom. And, uh, when they start to do that, what tends to happen is that, uh, market sentiment drops, and as soon as market sentiment drops, it becomes a self-fulfilling prophecy.
And so, uh, what happens is the market drops massively. The truth of it, though, is that underneath everything, the true fundamentals of the market haven't changed. Um, we still have a massive undersupply issue, and when there is a difference between supply and demand, that demand curve will push the price of housing up eventually.
And so having gone through, I'm gonna say three recessions and five market dips, uh, in the 37-odd years that I've been doing this, you see a very, very particular pattern, and that is as fast as it goes down, it tends to recover just as fast. And so, uh, you know, if it... Uh, and it tends to be in a V shape, so as it comes down, it kind of rockets back at the same, at the same trajectory and the same angle.
I think we're starting to see some early signs that people are going, "Okay, whilst we don't like where we're at, the reality is we still need a home. We still need to actually do things." Uh, but what it does, it actually creates huge amounts of opportunity, Andrew. And the opportunity, I guess, in the... I guess six months ago, every vendor was wanting a much higher price point.
But right now, they can't get that price point because the market is not supporting that. So it is our opportunity to do what we call a low or no money down deal. Uh, and we've got seven different ways that we can control a property without necessarily owning it, where we can add value to the project, and by adding value to the project, we can then actually give them the price point that they're actually looking for.
But we're doing it because we're deferring costs in our, in our process. Um, or in some instances, we're actually avoiding costs altogether. Um, and so when we can do that, then there's more fat in the deal, which means that the deal makes sense, so we can then add that back. Now, without going into all of the strategies, I guess if I can defer settlement for 12 months through any one of a range of strategies, that's 12 months of no interest, that's 12 months of no rates, that's 12 months of no land tax.
So those costs would've been in the project So my pro-- my, my feasibility shows those costs. The difference is I'm just not giving it to the bank or the Office of State Revenue or the council. I'm giving it back to the vendor to give them the price point that they were actually going to achieve. It's what we call a give back.
Yeah. I think deferring that stamp duty also gives you a little bit more money upfront to use for other purposes as well.
Yeah. So I guess that's a state-by-state challenge, uh, in how you can actually do that. So some of them, uh, want that stamp duty u-upfront. But, um, if the con... As a general rule of thumb, and please make sure you speak to your solicitor on this, but as a general rule of thumb, if the contract is not unconditional, then the stamp duty can't be due.
So anything you can do to have a subject to development approval, an option contract, those sorts of things, uh, that, uh, I guess defer, I guess the certainty of the sale, um, that is also gonna defer the stamp duty.
So where are you seeing opportunities right now?
Uh, seeing them absolutely everywhere, to be honest.
Um, the probably by far the biggest I would say would be both New South Wales and Victoria. Um, now New South Wales because they've got some of the best planning reforms in the country, uh, and Victoria because they have been depressed for so long that the price points there, uh, are, I guess cheap, cheap, cheap, cheap, cheap.
But the demand curve is, uh, so high that it's inevitable a recovery is actually gonna occur.
Are you referring to all strategies? You're talking small land subdivisions, townhouses, apartments, or what strategies?
Generically across the board, uh, with, with an all strategies type approach. Obviously, there's markets within markets and, and you need to understand that whatever strategy you're choosing, that strategy doesn't work everywhere, right?
So a, a common challenge that I see, Andrew, is that people choose the area and then try to force their strategy into the area and go, "Oh, like I, if I want to do a land subdivision, I'm gonna force that into this particular area." And that land subdivision might not work there, but a duplex might work, right?
But we didn't look at a duplex. And so what we tend to do is we l- we choose the area first and then try to force the strategy in, whereas what we should be doing is looking at the strategy and say, "Well, where does that actually make sense? Maybe that's gonna change where I'm actually starting to farm."
Um, uh, and not try to force things in, uh, but rather finesse it in.
Your education, are you appealing to people in New South Wales and Victoria to take these opportunities or are you also making advice to Queensland developers to, "Hey, let's, uh, go out of town to do these things," Rob?
No. So we are a national organisation, um, uh, and so we don't, uh, promote any one area over and above any other area.
I guess our strong guidance is do your development close to home, because you add so much risk to a project by not being able to physically be in attendance. Uh, you know, if, if, if a consultant says to me, "Hey Rob, can you come out on site?" I've got to, I've got to look at my workload and go, "Well, actually I can't get there until the weekend."
And so now I've got to book a flight and accommodation and, and a taxi to and from the airport and, uh, and it adds a whole bunch of costs. And by the time I get there, the consultant says, "Well, actually I'm going fishing that weekend. Can you make it the weekend after?" And it adds so much costs and so much risks.
Um, it's much better to do something that's just around the corner where you can physically inspect it within an hour or two of, of the consultant saying, "Hey, we would like to, we'd like to meet on site." Um, so we, we don't, we don't encourage people to do interstate developments. Um, there are plenty of deals everywhere
Okay.
And coming back to your, your whole purpose of your property developer network, um, I'd imagine it's about providing education to the majority of listeners who are just straight passive property investors and talking to them about completely, uh, speeding up the process of adding value to a property through development.
So do you wanna spend a minute just for those who haven't been property developers talking about the benefits of going down the development track?
Um, w- we actually have five different market segments that, uh, that we see common in our community. So one is the one you just described, "Hey, I've been a passive investor.
I wanna learn property development 'cause passive investor's taking too long." Um, that is approach number one. Approach number two is, uh, the course junkie. They've done lots of courses and, uh, they're very motivated and inspired, but they still don't know how to do it. Um, uh, so we try to give them the step-by-step how to in order to do that.
Um, then we've got people who have done their own deal without any education at all. Uh, they may have made money, but they also made a lot of mistakes and they, and they recognise that the cost of those mistakes, uh, would've easily been overcome through the education process. Um, then we've got, uh, I guess people that have been in the trade for a long people, a, a long period of time.
So we've got builders, we've got development managers, we've got architects. They, they know one part of the process extraordinarily well, but they don't, they don't understand, I guess, the basics at the start, so how to find it and how to fund it, right? Uh, and they may, might be able to run the project, uh, but they don't really just don't understand the, the mechanisms to actually get in there.
So they're fundamentally the five demographics that we tend to see come to our communities. Uh, so we've, uh, so we've got a mix of experience, uh, from people doing major, major projects to people that, uh, I guess are brand spanking newbies. And the whole concept is, uh, that everyone had to do deal number one.
So we respect everybody no matter where they're in the journey, and we try to help them, uh, on that journey.
And some of your students, uh, a small percentage of them would have plenty of cash to do their own deals, but a large percentage of them probably get really excited, as I do, uh, listening to your seven low or no money down strategies.
I, I just find it so Beautiful to listen to the clarity in which you present those different options. Do you want to spend a couple of minutes running through them, or do we not have time today?
We've got time. The, the, the prerequisite I would say here, Andrew, is that whilst there's lots of strategies available, what we tend to do is we go, "For my circumstances, this is what I need," and so then I try to force that onto the vendor, right?
And so it's like having a toolbox full of tools and you only pull out a hammer, and so everything starts looking like a nail. And we have not had the opportunity to convince the vendor that this is actually in their best interests. Instead, what we want to do is we want to pivot it and we want to not make it about us, but we want to make it about the vendor.
As property developers, we make money by solving problems. So what we want to do is understand what is the problem of that vendor right here, right now. And if I know what that problem is, then which one of my seven methodologies is going to be the thing that actually solves that? Now, uh, y- you're a real estate agent, so I'm, I'm, I'm going to pick on them, but I'm not picking on you particularly, okay?
Um, when a real estate agent's involved, typically when you say, "Hey, are they in a hurry? Can we do some creative settlements?" The agent will typically say, actually, they want an unconditional contract and they want fast settlement because that's what makes the agent happy and puts the commission in the agent's pocket.
But it's not necessarily the circumstance of the vendor, right? So there are four needs that a vendor has. One is time, one is certainty, one is risk, and one is money. And when we understand where they sit on those four, then we can then go which one of the seven methods is the right thing to actually do.
So an example, if I as- ask an open-ended question o- of the vendor, and if I say, "Hey, have you already bought the next house?" Right? Now their response to that question will tell me very, very quickly where they sit on a couple of those merits. So if they've already bought the next house, then I know time is critical to them because they're going to need this money to buy the next house.
I know certainty is critical to them, so they are not going to want some form of unconditional contr-- uh, sorry, some form of conditional contract because they need to settle on their next one. But I also know while they might want as much money as humanly possible, because of the time and certainty constraint, often we can haggle a bargain because they only need just enough to settle on the next property.
If I pivot that the other way, have they already bought the next house and they say no, then I can say, "Well, how long have you been looking, Andrew? What are you looking for? Are you trying to downsize? Are you trying to upsize? What's that product look like? Is it going to be in this area?" Maybe there's an opportunity that I could be constructing the exact thing that they're actually looking for.
Now, by taking the time to get to know their circumstances, getting to know them as a person, the concept is to know, like, and trust you. You need to show that you actually care what they're doing, uh, in the next realm And it might be that when you negotiate that out, you go, "Hey, Andrew, based on your circumstances, mate, that actually doesn't sound like a standard contract.
I've got this really crazy idea and you might not be open to it, but, you know, would you be willing to just listen to what the crazy idea is? Because what I heard is you need time. You don't want to be kicked out on the street. Um, uh, and because you don't want to be kicked out on the street, um, you know, you're, you're looking to find the next place.
You'd like to design your next place. I think I can actually help you." Maybe I'm doing a, a landowner JV, for example, and I'm building their finished product on the exact house that they're living right now. So there could be all sorts of ways to actually carve this out, um, but it's by taking the time to actually get to know them and their circumstances.
I think also, uh, on that point, Rob, if there is an agent involved, uh, before you make that call, you're generally, uh, probably prudent to work out how can the agent get paid his commission to ensure that he passes on your message correctly to the seller.
A very key point, Andrew. The moment an agent is involved, you are no longer in a two-way negotiation, you're in a three-way negotiation.
So let's keep it really simple. Fundamentally, there's two different kinds of agents in, uh, in the world. One who's fresh out of the academy and they don't have, uh, many deals in the pipeline and they're living paycheck to paycheck. And so for that person, getting their commission straight away is super important.
And then you've got the other agent who's been in the industry for a long period of time, they've got lots of deals in the pipeline, and what they're really looking at is to fill their pipe later on. Now, when you know which agent you're actually dealing with, if it's the, the, the first agent, what I'd say to you is, "Hey Andrew, I want to go in with a really creative solution here.
When I go in with a creative solution, it's going to be offering more than the market value, which means that your agent's commission is going to be higher." But because it's a creative settlement, it's going to take longer to settle. But if I could find a way to pay you straight away, would you be supportive of me in actually doing that?
Now straight away they go more commission and paid straight away, their greed gland kicks in, right? And so in a-- in that t- scenario, it might be as simple as the-- instead of putting the, the money into the trust account, um, we get through the due diligence phase, and once we get through DD, we release the deposit, um, through to the vendor so the vendor can pay the agent's commission.
Now, now it doesn't do me any good sitting in the trust account, so I might as well pass it through, but we have to be certain that the deal really is a deal. Now, for the other agent who has been in the industry for a long period of time, he knows that I'm creating six new townhouses, and he probably wants six new commissions on the other end.
So my conversation with him is very, very different. So, "Hey Andrew, I'm looking for the kind of agent who would negotiate the best outcome for the vendor and get them the best price humanly possible, because that agent is going to be the one that gets me the best price at the end. If you are willing to bring-- uh, to have a creative conversation with them then, that would make me feel confident that you're the kind of guy that would have a creative conversation when the time is right when I'm selling my finished product.
Would you be interested in selling my six at the end if we can get this deal across the line?" And so it's all about finding the need of the person on the other side. Now there's a lot more to it than, than that, but I've, I've tried to keep it very simple and very bite-sized for everybody to actually grab onto.
It's interesting when there is no agent though, you've-- it's just a small little pointer, but, uh, there's an extra 3% commission that you can, uh, use as an extra buffer in your negotiations as well.
You know, well, it's not just the 3%, um, it's the, uh, the marketing costs and the renovation cost to actually prepare it for marketing, and there's a whole bunch of other costs that they would avoid.
We don't need any of those things. They don't have any of the hassle, the timeline. So, uh, now that's where certainty starts to, to come in to go, well, some people, they haven't sold a property for 20-odd years, uh, and they're scared by contracts that have got complicated terms. Whereas other people have been investors for a long period of time.
They've done lots of deals, they understand creative terms, and they're really looking for the highest asset and the highest return. So sometimes a, a, a contract with very, very clean terms is the thing that's gonna get across the line. Whereas other times you might say, "Look, I, I think this site can only get four on it, but there's an outside chance I could get five.
If you give me the opportunity to try and get the development approval for five, if I get the five, I'll pay more." Right? Now that's uncertainty, but it gives them a money uplift in that process. So some people would be willing to do that, but some people would scare the willies out of them.
Do you wanna, um, talk a little bit more about these, at least, uh, list these seven low or no money down strategies, Rob?
Yeah. So there's, uh, deal finding, so looking for a deal for yourself, and you might find that you've proven it's developable, you've proven it's profitable, um, you've negotiated the terms and you know what the terms are because you paid attention to the vendor's needs. But when you look at your own personal circumstances, you go, "I don't have that cash.
But hey, Rob's got this community of 38,000 people, I reckon one of them would want it." You might be able to flick it on for a finder's fee, right? So, so that's kinda opportunity number one. Uh, opportunity number two might be, uh, look, I'm trying to negotiate on the deal and the vendor starts to get greedy.
They see that it's developable and they go, "Well, I'll just do the deal myself." And you go, "Have you ever done a deal yourself? Like, do you know what's actually happening here?" Uh, and so the opportunity would be depending upon their risk appetite, maybe you run the project for them in a project management capacity, or alternatively, you run it in a, uh, a JV capacity with a landowner JV, depending upon where they're sitting.
So you've got a couple of different scenarios that would actually sit there. Um, uh, you've got other more traditional JVs, so, uh, where I guess you find money partners in the community, um, friends, family, that sort of thing that, uh, or high net worth individuals. It's amazing how many people on paper, um, are, are millionaires because they bought their property 20 or 30 years ago, but their money's not doing anything, and so they don't know how to maximize that.
So if we can learn the skills and add value to them, it's amazing how many times they'll actually come on board with what we're actually trying to do. Um, uh, then there's, uh, an option contract. So an option is the right but not the obligation to actually purchase a property, uh, at a predetermined price at some point in the future.
Now, an option has a lot of really good, uh, features and benefits because it's a great risk mitigator for me. If, if the market changes, if the construction costs change, if I don't get the DA approval, I can walk away, right? So it's a great risk mitigation for me. Um, but if the vendor is looking for certainty, I'll never get it across the line.
The problem with a, a call option, and they are extraordinarily overhyped in the industry, and the challenge is if your intention is to actually construct it at some point, Andrew Then if I've got the right but not the obligation to settle, do you think that person's going to let me knock down their house?
Do you think they're going to let me start to construct? The answer is no, that because I might not settle and the last thing they want to do is have me destroy the value that they've got in their property at some point in time. So an option contract can only ever get you halfway into the deal, and that point it runs out of puff.
And what it does is it gives you the ability to get your DA, add some value. Uh, it also gives you the ability to raise some capital if that's what you need, and get your finance sorted and, and a few other things like that. But at some point you actually have to settle. Now, my favorite one is not an option contract.
My favorite one is a delayed settlement with early access. So that is, I'm giving them certainty on the transaction. I'm actually going to settle. But because there's certainty, they know that if I knock their house down, I'm still going to transact. Uh, and so that does allow me to knock down houses and, and do sewer and stormwater and, and build and start construction and a whole bunch of other things.
And so that can have massive, uh, holding cost savings in the deal, which we then pass back to the vendor, um, through what we call give backs. So they're fundamentally the seven there, but there's a lot of nuances in how and what we should apply, and the most important thing is do not have a preconceived idea.
If the only thing that I'm think-- If I've only learnt option contracts, then I'm just trying to force that into a vendor and they do not-- they're not receptive of it because they want certainty, I'm going to blow up deals. But if I understand their needs and I, and I recognize the certainty, there might be two or three other ways that I could unlock the deal, but I just didn't give them the chance to actually find that out
Rob, can I question the strategy number one?
Because if you're just trying to find a deal that makes sense and pass it on to another investor and through that arbitrage charge some sort of fee, I understand how you can do that with an option because most of them will have some sort of nomination or assignment clause. But if you sign a contract to buy something, you can't, in Queensland anyway, there's double stamp duty if you change the entity.
So how do your students protect themselves if they haven't got a contract signed to find a great deal and then pass it on to someone and make sure they actually get paid?
Yeah. So it's a very good thing and, and with all of the seven, this same, uh, caveat e-exists. You really, really do need to have your, uh, solicitor across everything that you're actually trying to do.
Because in one state what you can do and the next state what you can do are very, very different. Now, in a lot of states, uh, I'm gonna say probably the majority of them, you actually need to have a real estate agent's license to actually do that, uh, in any meaningful way to actually do that. And you ca- can then pass that on through your-- So a real estate agent can be either a selling agent or a buying agent.
Uh, and in that instance, they can pass it on and actually charge a premium for their service.
Well, only if they have some exclusive arrangement with the seller. I mean, I, I'm trying to narrow it down. If I go out and say I, I found a great site, um, I'm looking at one right now. It's 600 acres of land potentially subdivided into six 100-acre lots now I'm, I've just got an email through 10 minutes ago I haven't opened from my town planner with a list of all the, uh, likely expenses, and tonight I'll go through that.
Now, if I think that's a great deal but it's not my cup of tea and I wanna pass that on to someone else, if I haven't actually locked that property up with a contract, how do I protect myself from all my due diligence and hard work to make sure I profit from passing it to someone else?
Because you are a buyer's-- but because you're a real estate agent, you can only represent one side of the transaction.
So you can either say to the vendor, "Hey, I will represent you as a selling agent and I will bring, uh, lots of people to the, to the property," or, "I will charge you no commission and I will actually, uh, I guess, charge the incoming person along the way." Um-
I- I'm not an agent in that state. It's another state, Rob.
How do you, how do I protect myself? It's in New South Wales. I'm only an agent in Queensland.
Okay. So there is, uh, a number of different, uh, opportunities where you can do, uh, I guess, uh, mutual recognition between states for your license. Um, Queensland, uh, is the only state that is exempt from the automatic mutual rec- uh, recognition, so you have to go through a process to actually apply for that recognition to be done.
But you can actually do that and, and have a license in that state. Um, once you've got that in one other state, um, and I don't know which state you're thinking about, but then every other state uses the, the automatic mutual recognition and it's really just an application fee to each other state to go, "Hey, I wanna, uh, actually represent in or wanna operate in multiple states."
But that is by far the cleanest way, or as you rightly said, an option contract. Now, the challenge with an option contract is, uh, in some states that also triggers a double stamp duty event. So you have to be extraordinarily careful, um, that you know your legislation in your state. This is not something that, uh, is standard across the board.
Uh, the, the principles are standard, but the implementation is very unique every time, so you must, must, must get legal advice.
Now, Rob, you've got a, um, an event coming up and I, I encourage you to plug it right now. Tell us, you've-- I've been offset through a couple of these two-day events in between open homes.
I go out and come back and turn it back on for the last couple of years. Tell us about this one you've got coming up, and why should viewers listen to Rob Flux for two days over a weekend about these strategies?
Yeah. Thank you, Andrew. Appreciate that. Um, look, uh, it's something that we run every six months, uh, to give everyone an update in what's actually happening in the market, what the opportunities actually are, because clearly the market changes and, uh, what's happening in one state and what's happening in another state is very, very different, and that's why it takes two days to actually go through.
Um, but what we try to do is to go, "Here's the state of the market right now. This is where we think the opportunities are. This is your opportunity to get in, uh, and these are the, the opportunities that we see presenting themselves." And I guess if they, uh, have never done any development before, then obviously we have, I guess, an opportunity to, to teach them how to do that.
Um, but if they have done that, for two days, they, uh, I guess they get to see my view of the world. Um, they should always, I guess, sanity check their own view, obviously. Um, but the amount of homework that we put into that is in the vicinity of about 200 hours.
I, I can see that, Rob. It's a really, really great event.
I've listened it to and I I'm fascinated with the amount of education that comes out of it. It's an absolutely fantastic event, so I can thoroughly recommend it.
So it's called the New Rules of Property Summit, and the new rules is because a combination of, uh, I guess budget changes and also the, uh, changes in all the planning rules across the, the different states.
Uh, and so the landscape has changed significantly. If you look back, uh, two years ago, uh, what you could do and what you can do now, they're very, very different. So you need to always have your finger on the pulse with everything that's going on. Um, the big thing, uh, without stealing the thunder from the two days, uh, the budget de-incentivized investors to buy existing stock, which means that they have all run away from, I guess, a secondhand property, which means that there is less people competing for that stock.
But what they did do is they migrated where the incentives go. So the incentives for your negative gearing and your capital gains tax discounts now go to brand spanking new stock, right? And so if we are creating brand new stock, that's where the investors are going to pivot. Um, and we've got a platform where we've got 250 buyers agent, uh, who are constantly hungry for brand spanking new stock because they know that that's where their investors have actually started to pivot to.
And so our job now is to actually go, "How do we create more stock, uh, in the least amount of time?" So we're gonna be talking about the market dynamics, the, the planning rules. We're also gonna be talking about, uh, prefabrication of housing and how we can actually build things much faster, much more efficiently.
Uh, and uh, you know, if we can get-- In some states you can get a planning approval in 20 days, in some states you can get it in 10 days. So if you got a 10-day approval and then you got, uh, a construction that was only three or four months long, um, now the velocity of your money starts to change massively and, uh, the profitability of your deal just goes through the roof.
I've heard you promote, Rob, a absolute fact that there are two other lots of buyers chasing that new home stuff as well, the migration people that must buy new and also, uh, some first homeowners in certain states get additional grants for buying new stocks, and that's all compounding, isn't
it? All the investors, all the first home buyers, all the foreign buyers, every single one of them want and need brand new stock in order to get their incentives.
And so, uh, that's where all the demand is going to be pushed in the next, uh, I'm gonna say two to three years. Um, and it's really just trying to take the early mover advantage to try and get onto that before everybody else does.
The challenge of the high interest rate environment is probably gonna create more opportunity for people listening to your education as well, Rob, because there are less buyers out there, and sooner or later monetary policy will ease again as we go into a recession or slow down and things will turn around.
It's an absolute certainty.
Yeah. Depending upon the bank you're listening to, there's a 75% chance, um, that there's gonna be an interest rate rise this month, uh, through the RBA. So, uh, I would say yes, that's gonna happen. That's gonna put more downward pressure. That actually creates more opportunity for no and low money down.
And, and that's, uh... When a market is taking off through the roof, then nobody wants a conditional contract, um, because they know that people are coming in and they'll pay top dollar no matter what. But in a depressed market, everybody is flexible with creative terms. And so this right now is the best time if you've got limited deposit, if you've got limited, uh, I guess serviceability, limited liquid cash to run a deal, this is the best time to go, "How do I start to learn to be creative in my approach?"
Um, so I like to say, do not let your lack of resources stop you be- from being resourceful.
Rob, you, you're talking my language and I'm, I'm so excited and, uh, this one I'm just talking about before this large, uh, 600 acres, I've already got a two-year settlement agreed with the seller, full 10% up front. I've got two years to get development approval with uplift, and I can't afford to buy cash, but I've only got to come up with 10%.
I've got two years. He'll sign all the council forms to allow me to submit applications. He'll allow early access. I don't have to worry about settling for two years.
So you've just, you've just proven my exact point, Andrew.
Yeah. Exactly. Exactly. It's just such a powerful, powerful strategy. How do people subscribe for your upcoming event, Rob?
Uh, I'll give you a link that you can actually paste into, I guess, the chat window, uh, I guess, uh, and that will actually take them straight there. But it's, um, uh, it's called the New Rules of Property Summit. Uh, so they can just Google that or, uh, click on the link below.
Thank you so much for your time, especially given that you are sick as a dog today.
I really appreciate your time, Rob. And for the listeners, make sure you hit the subscribe button. I mentioned in the last couple of podcasts we're bringing on the big guns, and Rob Bu- Rob Flux is certainly one of those, and I'll twist his arm and try and get him on for some more strategy podcasts at some stage in the future.
Rob, thank you so much for your time. All
good. Thanks, Andrew. Thanks, listeners. Bye for now. Thanks, Rob.