{"version":"1.0.0","segments":[{"speaker":"Bob Andersen","startTime":6.029,"endTime":9.719,"body":"So we can acquire"},{"speaker":"Bob Andersen","startTime":6.029,"endTime":9.719,"body":"property, way cheaper than than"},{"speaker":"Bob Andersen","startTime":9.719,"endTime":12.869,"body":"the normal person who simply"},{"speaker":"Bob Andersen","startTime":9.719,"endTime":12.869,"body":"goes and buys finished product."},{"speaker":"Bob Andersen","startTime":13.739,"endTime":17.189,"body":"And that's how we build long"},{"speaker":"Bob Andersen","startTime":13.739,"endTime":17.189,"body":"term wealth because that enabled"},{"speaker":"Bob Andersen","startTime":17.339,"endTime":21.689,"body":"us to as developers to build a"},{"speaker":"Bob Andersen","startTime":17.339,"endTime":21.689,"body":"substantial property portfolio."},{"speaker":"Bob Andersen","startTime":22.349,"endTime":26.399,"body":"But quicker than we can in the"},{"speaker":"Bob Andersen","startTime":22.349,"endTime":26.399,"body":"normal retail market where we're"},{"speaker":"Bob Andersen","startTime":26.399,"endTime":28.109,"body":"paying retail price."},{"speaker":"Victor Lagos","startTime":28.0,"endTime":30.599,"body":"Welcome to the"},{"speaker":"Victor Lagos","startTime":28.0,"endTime":30.599,"body":"debt to financial freedom"},{"speaker":"Victor Lagos","startTime":28.0,"endTime":49.18,"body":"I am great. Great to be here."},{"speaker":"Victor Lagos","startTime":28.0,"endTime":49.18,"body":"Listen, look, I"},{"speaker":"Victor Lagos","startTime":30.664,"endTime":34.693,"body":"podcast. I'm your host, Victor"},{"speaker":"Victor Lagos","startTime":30.664,"endTime":34.693,"body":"Lagos, and the founder of Lagos"},{"speaker":"Victor Lagos","startTime":34.758,"endTime":38.658,"body":"Financial. I've been in the"},{"speaker":"Victor Lagos","startTime":34.758,"endTime":38.658,"body":"finance and lending industry for"},{"speaker":"Victor Lagos","startTime":38.723,"endTime":42.427,"body":"16 years, and I've personally"},{"speaker":"Victor Lagos","startTime":38.723,"endTime":42.427,"body":"made financial mistakes and"},{"speaker":"Victor Lagos","startTime":42.492,"endTime":46.391,"body":"learn from them. I started this"},{"speaker":"Victor Lagos","startTime":42.492,"endTime":46.391,"body":"podcast to share stories and"},{"speaker":"Victor Lagos","startTime":46.456,"endTime":50.486,"body":"lessons on my own journey, and"},{"speaker":"Victor Lagos","startTime":46.456,"endTime":50.486,"body":"to share insights that may help"},{"speaker":"Victor Lagos","startTime":50.551,"endTime":54.385,"body":"others on their journey. And I"},{"speaker":"Victor Lagos","startTime":50.551,"endTime":54.385,"body":"interviewed people that I've"},{"speaker":"Victor Lagos","startTime":50.92,"endTime":91.69,"body":"want to give a bit of an intro"},{"speaker":"Victor Lagos","startTime":50.92,"endTime":91.69,"body":"to Bob for those who don't know"},{"speaker":"Victor Lagos","startTime":54.45,"endTime":58.414,"body":"connected with that share the"},{"speaker":"Victor Lagos","startTime":54.45,"endTime":58.414,"body":"same values and mission to help"},{"speaker":"Victor Lagos","startTime":58.479,"endTime":62.704,"body":"others create financial freedom."},{"speaker":"Victor Lagos","startTime":58.479,"endTime":62.704,"body":"My goal this podcast is to share"},{"speaker":"Victor Lagos","startTime":62.768,"endTime":66.473,"body":"raw, honest, transparent and"},{"speaker":"Victor Lagos","startTime":62.768,"endTime":66.473,"body":"helpful stories that you can"},{"speaker":"Victor Lagos","startTime":66.538,"endTime":70.372,"body":"relate to and inspires you to"},{"speaker":"Victor Lagos","startTime":66.538,"endTime":70.372,"body":"take control of your finances"},{"speaker":"Victor Lagos","startTime":70.437,"endTime":74.531,"body":"and only have debt that brings"},{"speaker":"Victor Lagos","startTime":70.437,"endTime":74.531,"body":"you closer to financial freedom."},{"speaker":"Victor Lagos","startTime":74.596,"endTime":78.756,"body":"Welcome to the debt to financial"},{"speaker":"Victor Lagos","startTime":74.596,"endTime":78.756,"body":"freedom podcast. I'm your host,"},{"speaker":"Victor Lagos","startTime":78.821,"endTime":82.85,"body":"Victor Lagos. Today is episode"},{"speaker":"Victor Lagos","startTime":78.821,"endTime":82.85,"body":"11. And I have Mr. Bob Andersen"},{"speaker":"Victor Lagos","startTime":82.915,"endTime":85.84,"body":"on the show today. Hey, Bob, how"},{"speaker":"Victor Lagos","startTime":82.915,"endTime":85.84,"body":"are you man?"},{"speaker":"Victor Lagos","startTime":91.87,"endTime":98.23,"body":"who he is. Bob Andersen is the"},{"speaker":"Victor Lagos","startTime":91.87,"endTime":98.23,"body":"director of property mastermind."},{"speaker":"Victor Lagos","startTime":99.1,"endTime":102.82,"body":"Bob Andersen has over 39 years"},{"speaker":"Victor Lagos","startTime":99.1,"endTime":102.82,"body":"experience in development,"},{"speaker":"Victor Lagos","startTime":102.82,"endTime":105.94,"body":"investment, and marketing"},{"speaker":"Victor Lagos","startTime":102.82,"endTime":105.94,"body":"sectors of the property"},{"speaker":"Victor Lagos","startTime":105.94,"endTime":110.65,"body":"industry. During this time, Bob"},{"speaker":"Victor Lagos","startTime":105.94,"endTime":110.65,"body":"has had senior management roles"},{"speaker":"Victor Lagos","startTime":110.65,"endTime":113.68,"body":"in some of Australia's largest"},{"speaker":"Victor Lagos","startTime":110.65,"endTime":113.68,"body":"property development companies."},{"speaker":"Victor Lagos","startTime":114.07,"endTime":117.13,"body":"Bob has been involved in more"},{"speaker":"Victor Lagos","startTime":114.07,"endTime":117.13,"body":"than 1.3 billion worth of"},{"speaker":"Victor Lagos","startTime":117.13,"endTime":119.62,"body":"property development projects"},{"speaker":"Victor Lagos","startTime":117.13,"endTime":119.62,"body":"that include commercial"},{"speaker":"Victor Lagos","startTime":119.62,"endTime":124.12,"body":"buildings, apartments, high rise"},{"speaker":"Victor Lagos","startTime":119.62,"endTime":124.12,"body":"buildings, retirement complexes,"},{"speaker":"Victor Lagos","startTime":124.48,"endTime":129.49,"body":"land subdivisions, townhouses,"},{"speaker":"Victor Lagos","startTime":124.48,"endTime":129.49,"body":"student accommodation, and NDIS"},{"speaker":"Victor Lagos","startTime":129.49,"endTime":133.72,"body":"projects. At any time, Bob"},{"speaker":"Victor Lagos","startTime":129.49,"endTime":133.72,"body":"typically has between 50 million"},{"speaker":"Victor Lagos","startTime":133.72,"endTime":137.62,"body":"to 80 million worth of projects"},{"speaker":"Victor Lagos","startTime":133.72,"endTime":137.62,"body":"in the pipeline. Bob is the"},{"speaker":"Victor Lagos","startTime":137.62,"endTime":140.59,"body":"author of the book residential"},{"speaker":"Victor Lagos","startTime":137.62,"endTime":140.59,"body":"real estate development, a"},{"speaker":"Victor Lagos","startTime":140.59,"endTime":145.03,"body":"practical guide for beginners to"},{"speaker":"Victor Lagos","startTime":140.59,"endTime":145.03,"body":"experts, and appears in other"},{"speaker":"Victor Lagos","startTime":145.03,"endTime":148.75,"body":"books, The Secret of Secrets of"},{"speaker":"Victor Lagos","startTime":145.03,"endTime":148.75,"body":"property millionaires exposed"},{"speaker":"Victor Lagos","startTime":148.81,"endTime":152.98,"body":"and the new way to make money"},{"speaker":"Victor Lagos","startTime":148.81,"endTime":152.98,"body":"and property fast. He has also"},{"speaker":"Victor Lagos","startTime":152.98,"endTime":155.89,"body":"been a regular contributor to"},{"speaker":"Victor Lagos","startTime":152.98,"endTime":155.89,"body":"different publications such as"},{"speaker":"Victor Lagos","startTime":155.89,"endTime":158.53,"body":"your property investment"},{"speaker":"Victor Lagos","startTime":155.89,"endTime":158.53,"body":"magazine, the Australian"},{"speaker":"Victor Lagos","startTime":158.53,"endTime":162.16,"body":"property, Investor magazine,"},{"speaker":"Victor Lagos","startTime":158.53,"endTime":162.16,"body":"Money Magazine, and Success"},{"speaker":"Victor Lagos","startTime":162.16,"endTime":165.7,"body":"Magazine. He's appeared on media"},{"speaker":"Victor Lagos","startTime":162.16,"endTime":165.7,"body":"interviews to talk about his"},{"speaker":"Victor Lagos","startTime":165.7,"endTime":169.6,"body":"experience as a property"},{"speaker":"Victor Lagos","startTime":165.7,"endTime":169.6,"body":"developer on Sky News, Fox News"},{"speaker":"Victor Lagos","startTime":169.96,"endTime":175.51,"body":"for BBC Radio, and ABC Radio."},{"speaker":"Victor Lagos","startTime":169.96,"endTime":175.51,"body":"Bob has changed the lives of so"},{"speaker":"Victor Lagos","startTime":175.51,"endTime":178.42,"body":"many people through his renowned"},{"speaker":"Victor Lagos","startTime":175.51,"endTime":178.42,"body":"property development courses by"},{"speaker":"Victor Lagos","startTime":178.42,"endTime":181.3,"body":"training them to use property"},{"speaker":"Victor Lagos","startTime":178.42,"endTime":181.3,"body":"development as a vehicle to"},{"speaker":"Victor Lagos","startTime":181.3,"endTime":186.73,"body":"build substantial cash flow, and"},{"speaker":"Victor Lagos","startTime":181.3,"endTime":186.73,"body":"long term wealth. Wow. That's"},{"speaker":"Victor Lagos","startTime":186.73,"endTime":187.33,"body":"very impressive."},{"speaker":"Bob Andersen","startTime":187.35,"endTime":191.82,"body":"But how is that a"},{"speaker":"Bob Andersen","startTime":187.35,"endTime":191.82,"body":"mouthful? Oh, well, I've been"},{"speaker":"Bob Andersen","startTime":191.82,"endTime":196.95,"body":"around for a while. So I guess"},{"speaker":"Bob Andersen","startTime":191.82,"endTime":196.95,"body":"some, you know, slightly longer"},{"speaker":"Bob Andersen","startTime":196.95,"endTime":202.29,"body":"story. Probably near 40. Yeah."},{"speaker":"Bob Andersen","startTime":196.95,"endTime":202.29,"body":"Yeah. Been a while in property"},{"speaker":"Bob Andersen","startTime":202.29,"endTime":210.21,"body":"development. Yeah. Well, I"},{"speaker":"Bob Andersen","startTime":202.29,"endTime":210.21,"body":"always say, if I if I often say"},{"speaker":"Bob Andersen","startTime":210.21,"endTime":212.64,"body":"if I'd found something better to"},{"speaker":"Bob Andersen","startTime":210.21,"endTime":212.64,"body":"do, I'd be doing it. But the"},{"speaker":"Bob Andersen","startTime":212.64,"endTime":215.04,"body":"fact that I'm still doing it"},{"speaker":"Bob Andersen","startTime":212.64,"endTime":215.04,"body":"after all these years is"},{"speaker":"Bob Andersen","startTime":215.04,"endTime":217.59,"body":"probably testimony to property"},{"speaker":"Bob Andersen","startTime":215.04,"endTime":217.59,"body":"development."},{"speaker":"Victor Lagos","startTime":218.64,"endTime":221.25,"body":"Yeah. Well, you're"},{"speaker":"Victor Lagos","startTime":218.64,"endTime":221.25,"body":"obviously passionate about it."},{"speaker":"Victor Lagos","startTime":221.28,"endTime":225.48,"body":"And as you've said, well, as"},{"speaker":"Victor Lagos","startTime":221.28,"endTime":225.48,"body":"your intro said, you've helped"},{"speaker":"Victor Lagos","startTime":225.87,"endTime":228.66,"body":"many people along the way. But I"},{"speaker":"Victor Lagos","startTime":225.87,"endTime":228.66,"body":"want to hear a little bit about"},{"speaker":"Victor Lagos","startTime":228.66,"endTime":231.18,"body":"your personal and your and your"},{"speaker":"Victor Lagos","startTime":228.66,"endTime":231.18,"body":"professional story. And what led"},{"speaker":"Victor Lagos","startTime":231.18,"endTime":233.82,"body":"you to be a property developer"},{"speaker":"Victor Lagos","startTime":231.18,"endTime":233.82,"body":"and to start property"},{"speaker":"Victor Lagos","startTime":233.82,"endTime":234.3,"body":"mastermind."},{"speaker":"Bob Andersen","startTime":237.33,"endTime":239.58,"body":"Yeah, well, I"},{"speaker":"Bob Andersen","startTime":237.33,"endTime":239.58,"body":"don't know. It all started with"},{"speaker":"Bob Andersen","startTime":239.58,"endTime":242.43,"body":"a pretty serious car accident I"},{"speaker":"Bob Andersen","startTime":239.58,"endTime":242.43,"body":"had when I was a young man, I"},{"speaker":"Bob Andersen","startTime":242.43,"endTime":247.77,"body":"was on my way home from a march"},{"speaker":"Bob Andersen","startTime":242.43,"endTime":247.77,"body":"21. Quite sober, in fact. But I"},{"speaker":"Bob Andersen","startTime":247.77,"endTime":251.1,"body":"went to sleep about 4am in the"},{"speaker":"Bob Andersen","startTime":247.77,"endTime":251.1,"body":"morning, and ran into a bridge"},{"speaker":"Bob Andersen","startTime":251.1,"endTime":254.16,"body":"and that put me out of action"},{"speaker":"Bob Andersen","startTime":251.1,"endTime":254.16,"body":"for I was on crutches for about"},{"speaker":"Bob Andersen","startTime":254.16,"endTime":258.09,"body":"a year, and took about 18 months"},{"speaker":"Bob Andersen","startTime":254.16,"endTime":258.09,"body":"to recuperate. So that gave me"},{"speaker":"Bob Andersen","startTime":258.09,"endTime":262.35,"body":"lots of time to lie on my back"},{"speaker":"Bob Andersen","startTime":258.09,"endTime":262.35,"body":"and contemplate my life. And"},{"speaker":"Bob Andersen","startTime":263.16,"endTime":265.95,"body":"came to the realization I was"},{"speaker":"Bob Andersen","startTime":263.16,"endTime":265.95,"body":"having a what I thought was a"},{"speaker":"Bob Andersen","startTime":265.95,"endTime":268.71,"body":"pretty good life. I had a couple"},{"speaker":"Bob Andersen","startTime":265.95,"endTime":268.71,"body":"of cash businesses, sort of"},{"speaker":"Bob Andersen","startTime":268.95,"endTime":272.61,"body":"young entrepreneur, just living"},{"speaker":"Bob Andersen","startTime":268.95,"endTime":272.61,"body":"for the moment really not"},{"speaker":"Bob Andersen","startTime":272.61,"endTime":275.61,"body":"thinking too much about the"},{"speaker":"Bob Andersen","startTime":272.61,"endTime":275.61,"body":"future. But it's funny what"},{"speaker":"Bob Andersen","startTime":275.61,"endTime":278.07,"body":"happens when you have a near"},{"speaker":"Bob Andersen","startTime":275.61,"endTime":278.07,"body":"death experience like that car"},{"speaker":"Bob Andersen","startTime":278.07,"endTime":280.17,"body":"accident. In fact, when the"},{"speaker":"Bob Andersen","startTime":278.07,"endTime":280.17,"body":"police arrived, they thought it"},{"speaker":"Bob Andersen","startTime":280.17,"endTime":285.9,"body":"was dead. Pleased to say I"},{"speaker":"Bob Andersen","startTime":280.17,"endTime":285.9,"body":"filled them. But yeah, it gave"},{"speaker":"Bob Andersen","startTime":285.9,"endTime":288.57,"body":"me a lot of time to think about"},{"speaker":"Bob Andersen","startTime":285.9,"endTime":288.57,"body":"things on my back and"},{"speaker":"Bob Andersen","startTime":288.57,"endTime":292.26,"body":"recuperating and realize that"},{"speaker":"Bob Andersen","startTime":288.57,"endTime":292.26,"body":"there's more to life than just"},{"speaker":"Bob Andersen","startTime":292.26,"endTime":295.62,"body":"living a sort of life I was"},{"speaker":"Bob Andersen","startTime":292.26,"endTime":295.62,"body":"living and I decided well, when"},{"speaker":"Bob Andersen","startTime":295.62,"endTime":299.04,"body":"I when I get well, what am I"},{"speaker":"Bob Andersen","startTime":295.62,"endTime":299.04,"body":"going to do and I thought a lot"},{"speaker":"Bob Andersen","startTime":299.04,"endTime":303.57,"body":"about it up Property. I'd had a"},{"speaker":"Bob Andersen","startTime":299.04,"endTime":303.57,"body":"little bit of a knowledge about"},{"speaker":"Bob Andersen","startTime":303.57,"endTime":307.17,"body":"property but but really not much"},{"speaker":"Bob Andersen","startTime":303.57,"endTime":307.17,"body":"at all. Shares sort of scared"},{"speaker":"Bob Andersen","startTime":307.17,"endTime":310.14,"body":"me. I knew zero about shares."},{"speaker":"Bob Andersen","startTime":307.17,"endTime":310.14,"body":"But I knew a little bit about"},{"speaker":"Bob Andersen","startTime":310.14,"endTime":315.75,"body":"property, because I lived in"},{"speaker":"Bob Andersen","startTime":310.14,"endTime":315.75,"body":"one. But yeah, got back on my"},{"speaker":"Bob Andersen","startTime":315.75,"endTime":317.94,"body":"feet. I thought, well, if I'm"},{"speaker":"Bob Andersen","startTime":315.75,"endTime":317.94,"body":"gonna do property, where's the"},{"speaker":"Bob Andersen","startTime":317.94,"endTime":319.8,"body":"money made? And I started to"},{"speaker":"Bob Andersen","startTime":317.94,"endTime":319.8,"body":"have a look around and look at"},{"speaker":"Bob Andersen","startTime":319.8,"endTime":323.64,"body":"real estate agents, I'd look at"},{"speaker":"Bob Andersen","startTime":319.8,"endTime":323.64,"body":"valuers and all sorts of people."},{"speaker":"Bob Andersen","startTime":323.64,"endTime":327.42,"body":"And I came to the conclusion,"},{"speaker":"Bob Andersen","startTime":323.64,"endTime":327.42,"body":"pretty sensibly that property"},{"speaker":"Bob Andersen","startTime":327.42,"endTime":330.27,"body":"developers seem to make the most"},{"speaker":"Bob Andersen","startTime":327.42,"endTime":330.27,"body":"money. So not even knowing how"},{"speaker":"Bob Andersen","startTime":330.27,"endTime":333.21,"body":"to do and I thought, well,"},{"speaker":"Bob Andersen","startTime":330.27,"endTime":333.21,"body":"property development, that'll"},{"speaker":"Bob Andersen","startTime":333.21,"endTime":336.27,"body":"get me back on my legs because"},{"speaker":"Bob Andersen","startTime":333.21,"endTime":336.27,"body":"we ended up having to move home"},{"speaker":"Bob Andersen","startTime":336.27,"endTime":338.79,"body":"with my mum and dad while I was"},{"speaker":"Bob Andersen","startTime":336.27,"endTime":338.79,"body":"recuperating. I think I had $5"},{"speaker":"Bob Andersen","startTime":338.79,"endTime":344.19,"body":"in the bank, by the time I was"},{"speaker":"Bob Andersen","startTime":338.79,"endTime":344.19,"body":"back on my legs again. And so I"},{"speaker":"Bob Andersen","startTime":344.19,"endTime":348.9,"body":"thought, yep, I need money. And"},{"speaker":"Bob Andersen","startTime":344.19,"endTime":348.9,"body":"so property development was"},{"speaker":"Bob Andersen","startTime":348.9,"endTime":351.96,"body":"where it was going to be. I"},{"speaker":"Bob Andersen","startTime":348.9,"endTime":351.96,"body":"spoke to a few people I knew I"},{"speaker":"Bob Andersen","startTime":351.96,"endTime":356.22,"body":"did know through. A friend of my"},{"speaker":"Bob Andersen","startTime":351.96,"endTime":356.22,"body":"dad's someone to do did some"},{"speaker":"Bob Andersen","startTime":356.22,"endTime":359.52,"body":"small developments. I knew a"},{"speaker":"Bob Andersen","startTime":356.22,"endTime":359.52,"body":"builder talk to them builders,"},{"speaker":"Bob Andersen","startTime":359.52,"endTime":364.38,"body":"not developers, but I thought it"},{"speaker":"Bob Andersen","startTime":359.52,"endTime":364.38,"body":"was somewhere near. And I also"},{"speaker":"Bob Andersen","startTime":364.38,"endTime":366.09,"body":"thought, well, I lived in"},{"speaker":"Bob Andersen","startTime":364.38,"endTime":366.09,"body":"Brisbane at the time. So I"},{"speaker":"Bob Andersen","startTime":366.09,"endTime":368.37,"body":"thought I'll head to the Gold"},{"speaker":"Bob Andersen","startTime":366.09,"endTime":368.37,"body":"Coast because I thought"},{"speaker":"Bob Andersen","startTime":368.37,"endTime":372.63,"body":"everybody went to the Gold Coast"},{"speaker":"Bob Andersen","startTime":368.37,"endTime":372.63,"body":"to make money. And not realizing"},{"speaker":"Bob Andersen","startTime":372.63,"endTime":374.46,"body":"back in those days, probably"},{"speaker":"Bob Andersen","startTime":372.63,"endTime":374.46,"body":"plenty of people went to the"},{"speaker":"Bob Andersen","startTime":374.46,"endTime":377.49,"body":"Gold Coast and lost money. But"},{"speaker":"Bob Andersen","startTime":374.46,"endTime":377.49,"body":"anyway, that you are young man"},{"speaker":"Bob Andersen","startTime":377.49,"endTime":380.97,"body":"10 foot tall, bulletproof,"},{"speaker":"Bob Andersen","startTime":377.49,"endTime":380.97,"body":"dangerous student, not even"},{"speaker":"Bob Andersen","startTime":380.97,"endTime":384.18,"body":"knowing what I didn't know,"},{"speaker":"Bob Andersen","startTime":380.97,"endTime":384.18,"body":"headed off to the Gold Coast and"},{"speaker":"Bob Andersen","startTime":385.38,"endTime":387.63,"body":"unable to go straight into"},{"speaker":"Bob Andersen","startTime":385.38,"endTime":387.63,"body":"property development, I went"},{"speaker":"Bob Andersen","startTime":387.63,"endTime":391.38,"body":"into agency and I joined a real"},{"speaker":"Bob Andersen","startTime":387.63,"endTime":391.38,"body":"estate agency at the back of the"},{"speaker":"Bob Andersen","startTime":391.38,"endTime":394.2,"body":"Gold Coast at a place called"},{"speaker":"Bob Andersen","startTime":391.38,"endTime":394.2,"body":"Marjory bar, which was selling"},{"speaker":"Bob Andersen","startTime":394.2,"endTime":397.98,"body":"land estates. And that was my"},{"speaker":"Bob Andersen","startTime":394.2,"endTime":397.98,"body":"first foray into real property"},{"speaker":"Bob Andersen","startTime":397.98,"endTime":401.49,"body":"as such, and that was as a"},{"speaker":"Bob Andersen","startTime":397.98,"endTime":401.49,"body":"salesman. But I was selling land"},{"speaker":"Bob Andersen","startTime":401.49,"endTime":403.89,"body":"to builders and builders build"},{"speaker":"Bob Andersen","startTime":401.49,"endTime":403.89,"body":"houses, and I was selling"},{"speaker":"Bob Andersen","startTime":403.89,"endTime":407.61,"body":"builders houses and talking to"},{"speaker":"Bob Andersen","startTime":403.89,"endTime":407.61,"body":"developers of the different"},{"speaker":"Bob Andersen","startTime":407.61,"endTime":410.73,"body":"estates. And we're getting all"},{"speaker":"Bob Andersen","startTime":407.61,"endTime":410.73,"body":"excited about the fact that I"},{"speaker":"Bob Andersen","startTime":410.73,"endTime":416.13,"body":"could be one. And so that's,"},{"speaker":"Bob Andersen","startTime":410.73,"endTime":416.13,"body":"that was my foray, I was lucky"},{"speaker":"Bob Andersen","startTime":416.13,"endTime":422.37,"body":"enough to, to meet somebody"},{"speaker":"Bob Andersen","startTime":416.13,"endTime":422.37,"body":"there at the time, who had some"},{"speaker":"Bob Andersen","startTime":422.37,"endTime":425.7,"body":"land, they got an approval to"},{"speaker":"Bob Andersen","startTime":422.37,"endTime":425.7,"body":"cut it into four lots. And then"},{"speaker":"Bob Andersen","startTime":425.7,"endTime":432.12,"body":"they decided to sell it for that"},{"speaker":"Bob Andersen","startTime":425.7,"endTime":432.12,"body":"subdivision. And I was, I was"},{"speaker":"Bob Andersen","startTime":432.12,"endTime":434.04,"body":"looking at it to sell it. And"},{"speaker":"Bob Andersen","startTime":432.12,"endTime":434.04,"body":"then I thought, gee, I'd love to"},{"speaker":"Bob Andersen","startTime":434.04,"endTime":437.16,"body":"do this, this could be my first"},{"speaker":"Bob Andersen","startTime":434.04,"endTime":437.16,"body":"chance, I went to the owner, and"},{"speaker":"Bob Andersen","startTime":437.16,"endTime":439.08,"body":"I said, Look, I'd love to buy"},{"speaker":"Bob Andersen","startTime":437.16,"endTime":439.08,"body":"it, I just don't have enough"},{"speaker":"Bob Andersen","startTime":439.08,"endTime":444.12,"body":"money. And that person, Tony was"},{"speaker":"Bob Andersen","startTime":439.08,"endTime":444.12,"body":"his name, gave me my first big"},{"speaker":"Bob Andersen","startTime":444.12,"endTime":448.17,"body":"break. And he said, you don't"},{"speaker":"Bob Andersen","startTime":444.12,"endTime":448.17,"body":"need money to do property"},{"speaker":"Bob Andersen","startTime":448.17,"endTime":450.87,"body":"development, you just have to"},{"speaker":"Bob Andersen","startTime":448.17,"endTime":450.87,"body":"know different strategies. And"},{"speaker":"Bob Andersen","startTime":450.87,"endTime":454.38,"body":"and I ended up doing what we"},{"speaker":"Bob Andersen","startTime":450.87,"endTime":454.38,"body":"later later came to know as a"},{"speaker":"Bob Andersen","startTime":454.38,"endTime":458.28,"body":"vendor finance deal with Tony"},{"speaker":"Bob Andersen","startTime":454.38,"endTime":458.28,"body":"where he sold me the land, took"},{"speaker":"Bob Andersen","startTime":458.28,"endTime":462.48,"body":"me to his bank, in fact, helped"},{"speaker":"Bob Andersen","startTime":458.28,"endTime":462.48,"body":"me finance it sold me the land I"},{"speaker":"Bob Andersen","startTime":462.54,"endTime":469.65,"body":"I settled on the on the site, I"},{"speaker":"Bob Andersen","startTime":462.54,"endTime":469.65,"body":"took possession of it. And using"},{"speaker":"Bob Andersen","startTime":469.65,"endTime":475.17,"body":"the land as security, and Tony,"},{"speaker":"Bob Andersen","startTime":469.65,"endTime":475.17,"body":"I gave him half the money. I"},{"speaker":"Bob Andersen","startTime":475.17,"endTime":478.47,"body":"owed him the other half, which I"},{"speaker":"Bob Andersen","startTime":475.17,"endTime":478.47,"body":"paid him back with interest when"},{"speaker":"Bob Andersen","startTime":478.47,"endTime":481.95,"body":"I sold the land. And so typical,"},{"speaker":"Bob Andersen","startTime":478.47,"endTime":481.95,"body":"what we call a vendor finance"},{"speaker":"Bob Andersen","startTime":481.95,"endTime":484.68,"body":"deal, that got me going on my"},{"speaker":"Bob Andersen","startTime":481.95,"endTime":484.68,"body":"legs, all of a sudden I made"},{"speaker":"Bob Andersen","startTime":484.68,"endTime":487.98,"body":"money, didn't put any money in,"},{"speaker":"Bob Andersen","startTime":484.68,"endTime":487.98,"body":"made some money, and I was away."},{"speaker":"Bob Andersen","startTime":489.45,"endTime":492.87,"body":"Can't say it was a smooth ride"},{"speaker":"Bob Andersen","startTime":489.45,"endTime":492.87,"body":"from them, but says it's bumps"},{"speaker":"Bob Andersen","startTime":492.87,"endTime":497.01,"body":"in his detours still does. But"},{"speaker":"Bob Andersen","startTime":492.87,"endTime":497.01,"body":"that's, you know, property"},{"speaker":"Bob Andersen","startTime":497.01,"endTime":500.28,"body":"development is you can make a"},{"speaker":"Bob Andersen","startTime":497.01,"endTime":500.28,"body":"lot of money out of it. But you"},{"speaker":"Bob Andersen","startTime":500.28,"endTime":502.74,"body":"got to do it. Right. And as"},{"speaker":"Bob Andersen","startTime":500.28,"endTime":502.74,"body":"always, there's always things to"},{"speaker":"Bob Andersen","startTime":502.74,"endTime":504.63,"body":"overcome, like any any business"},{"speaker":"Bob Andersen","startTime":502.74,"endTime":504.63,"body":"really."},{"speaker":"Victor Lagos","startTime":506.22,"endTime":510.03,"body":"Yeah. Well, and"},{"speaker":"Victor Lagos","startTime":506.22,"endTime":510.03,"body":"what led you to start property"},{"speaker":"Victor Lagos","startTime":510.03,"endTime":510.57,"body":"mastermind?"},{"speaker":"Bob Andersen","startTime":511.769,"endTime":514.619,"body":"Yeah, so property"},{"speaker":"Bob Andersen","startTime":511.769,"endTime":514.619,"body":"mastermind is really the the"},{"speaker":"Bob Andersen","startTime":514.619,"endTime":518.969,"body":"education, business. So we have"},{"speaker":"Bob Andersen","startTime":514.619,"endTime":518.969,"body":"two businesses, I guess you"},{"speaker":"Bob Andersen","startTime":518.969,"endTime":521.459,"body":"could say property mastermind is"},{"speaker":"Bob Andersen","startTime":518.969,"endTime":521.459,"body":"an education where we teach"},{"speaker":"Bob Andersen","startTime":521.459,"endTime":524.849,"body":"people how to be developers. And"},{"speaker":"Bob Andersen","startTime":521.459,"endTime":524.849,"body":"we also are developers in our"},{"speaker":"Bob Andersen","startTime":524.849,"endTime":530.309,"body":"own right. So it came about back"},{"speaker":"Bob Andersen","startTime":524.849,"endTime":530.309,"body":"in the early 2000s. In fact,"},{"speaker":"Bob Andersen","startTime":530.309,"endTime":534.539,"body":"when my son joined me after he"},{"speaker":"Bob Andersen","startTime":530.309,"endTime":534.539,"body":"finished uni, and I thought, Oh,"},{"speaker":"Bob Andersen","startTime":534.539,"endTime":537.959,"body":"that's great. I'll just buy him"},{"speaker":"Bob Andersen","startTime":534.539,"endTime":537.959,"body":"a couple of books on property"},{"speaker":"Bob Andersen","startTime":537.959,"endTime":540.659,"body":"development, it can bring him up"},{"speaker":"Bob Andersen","startTime":537.959,"endTime":540.659,"body":"to pace and I couldn't find any"},{"speaker":"Bob Andersen","startTime":540.689,"endTime":543.779,"body":"that were any good. And then I"},{"speaker":"Bob Andersen","startTime":540.689,"endTime":543.779,"body":"thought, well, what courses are"},{"speaker":"Bob Andersen","startTime":543.779,"endTime":546.359,"body":"they because remember, I was"},{"speaker":"Bob Andersen","startTime":543.779,"endTime":546.359,"body":"just full time developing at"},{"speaker":"Bob Andersen","startTime":546.359,"endTime":548.489,"body":"this point, I wasn't really"},{"speaker":"Bob Andersen","startTime":546.359,"endTime":548.489,"body":"thinking of the education side"},{"speaker":"Bob Andersen","startTime":548.489,"endTime":551.879,"body":"of it. Couldn't find any good"},{"speaker":"Bob Andersen","startTime":548.489,"endTime":551.879,"body":"courses, there was sort of one"},{"speaker":"Bob Andersen","startTime":551.879,"endTime":555.809,"body":"out there, which wasn't, wasn't"},{"speaker":"Bob Andersen","startTime":551.879,"endTime":555.809,"body":"really much job. And then I"},{"speaker":"Bob Andersen","startTime":555.809,"endTime":558.899,"body":"thought, well, there's a bit of"},{"speaker":"Bob Andersen","startTime":555.809,"endTime":558.899,"body":"a hole there. And you know, over"},{"speaker":"Bob Andersen","startTime":558.899,"endTime":561.209,"body":"a period of the next couple of"},{"speaker":"Bob Andersen","startTime":558.899,"endTime":561.209,"body":"years, as you do when you're"},{"speaker":"Bob Andersen","startTime":561.209,"endTime":564.839,"body":"out, you know, in the"},{"speaker":"Bob Andersen","startTime":561.209,"endTime":564.839,"body":"marketplace, I did see a few"},{"speaker":"Bob Andersen","startTime":564.839,"endTime":568.139,"body":"people who had gotten into"},{"speaker":"Bob Andersen","startTime":564.839,"endTime":568.139,"body":"trouble doing things and I could"},{"speaker":"Bob Andersen","startTime":568.139,"endTime":570.839,"body":"see that it was just a pure lack"},{"speaker":"Bob Andersen","startTime":568.139,"endTime":570.839,"body":"of knowledge. They just didn't"},{"speaker":"Bob Andersen","startTime":570.839,"endTime":574.619,"body":"have any experience, what they"},{"speaker":"Bob Andersen","startTime":570.839,"endTime":574.619,"body":"were doing and I thought, well,"},{"speaker":"Bob Andersen","startTime":575.069,"endTime":578.939,"body":"I should do something so"},{"speaker":"Bob Andersen","startTime":575.069,"endTime":578.939,"body":"actually wrote a book in"},{"speaker":"Bob Andersen","startTime":578.939,"endTime":582.179,"body":"released in 2006. It's out of"},{"speaker":"Bob Andersen","startTime":578.939,"endTime":582.179,"body":"print. Now, it's been out of"},{"speaker":"Bob Andersen","startTime":582.179,"endTime":584.999,"body":"print for a while, but it was it"},{"speaker":"Bob Andersen","startTime":582.179,"endTime":584.999,"body":"was on property development, how"},{"speaker":"Bob Andersen","startTime":584.999,"endTime":590.759,"body":"to do it. And then a couple of"},{"speaker":"Bob Andersen","startTime":584.999,"endTime":590.759,"body":"years later, I thought well, I"},{"speaker":"Bob Andersen","startTime":590.759,"endTime":594.809,"body":"might take that the next step"},{"speaker":"Bob Andersen","startTime":590.759,"endTime":594.809,"body":"bet 2009 actually build a proper"},{"speaker":"Bob Andersen","startTime":594.809,"endTime":599.969,"body":"course. Very early days on"},{"speaker":"Bob Andersen","startTime":594.809,"endTime":599.969,"body":"online marketing have done"},{"speaker":"Bob Andersen","startTime":599.999,"endTime":603.149,"body":"lineup was a solid course that"},{"speaker":"Bob Andersen","startTime":599.999,"endTime":603.149,"body":"I'd sent out in the mail. It was"},{"speaker":"Bob Andersen","startTime":603.149,"endTime":606.029,"body":"all, you know, CDs, it sounds"},{"speaker":"Bob Andersen","startTime":603.149,"endTime":606.029,"body":"ancient now, you know, it's"},{"speaker":"Bob Andersen","startTime":606.029,"endTime":611.369,"body":"probably only 14 years ago with,"},{"speaker":"Bob Andersen","startTime":606.029,"endTime":611.369,"body":"you know, CDs and manuals. And"},{"speaker":"Bob Andersen","startTime":611.369,"endTime":614.879,"body":"that was my, my first course,"},{"speaker":"Bob Andersen","startTime":611.369,"endTime":614.879,"body":"got accepted pretty well. And,"},{"speaker":"Bob Andersen","startTime":615.449,"endTime":619.619,"body":"and so I then started some"},{"speaker":"Bob Andersen","startTime":615.449,"endTime":619.619,"body":"weekend workshops and, and then"},{"speaker":"Bob Andersen","startTime":619.619,"endTime":622.889,"body":"I, I started a mentoring program"},{"speaker":"Bob Andersen","startTime":619.619,"endTime":622.889,"body":"just for a limited amount of"},{"speaker":"Bob Andersen","startTime":622.889,"endTime":626.129,"body":"people where I work personally"},{"speaker":"Bob Andersen","startTime":622.889,"endTime":626.129,"body":"with people on the, you know,"},{"speaker":"Bob Andersen","startTime":626.129,"endTime":628.589,"body":"helping them with with their"},{"speaker":"Bob Andersen","startTime":626.129,"endTime":628.589,"body":"developments and sort of what"},{"speaker":"Bob Andersen","startTime":628.589,"endTime":632.879,"body":"grew from there probably about"},{"speaker":"Bob Andersen","startTime":628.589,"endTime":632.879,"body":"14 years ago, until we are what"},{"speaker":"Bob Andersen","startTime":632.879,"endTime":636.839,"body":"we are now. So yeah, I guess the"},{"speaker":"Bob Andersen","startTime":632.879,"endTime":636.839,"body":"point of it was like, I could"},{"speaker":"Bob Andersen","startTime":636.839,"endTime":642.059,"body":"see that people really needed"},{"speaker":"Bob Andersen","startTime":636.839,"endTime":642.059,"body":"education that wasn't there."},{"speaker":"Bob Andersen","startTime":642.809,"endTime":646.019,"body":"There's a lot more out there."},{"speaker":"Bob Andersen","startTime":642.809,"endTime":646.019,"body":"Now, of course, most people that"},{"speaker":"Bob Andersen","startTime":646.019,"endTime":647.729,"body":"have property development"},{"speaker":"Bob Andersen","startTime":646.019,"endTime":647.729,"body":"courses are actually our"},{"speaker":"Bob Andersen","startTime":647.729,"endTime":650.879,"body":"students and but back in the"},{"speaker":"Bob Andersen","startTime":647.729,"endTime":650.879,"body":"day, there wasn't anything"},{"speaker":"Bob Andersen","startTime":650.879,"endTime":654.839,"body":"there. And I thought, well, if I"},{"speaker":"Bob Andersen","startTime":650.879,"endTime":654.839,"body":"can get something decent out"},{"speaker":"Bob Andersen","startTime":654.839,"endTime":658.919,"body":"there, people will be able to"},{"speaker":"Bob Andersen","startTime":654.839,"endTime":658.919,"body":"always face make less mistakes,"},{"speaker":"Bob Andersen","startTime":659.699,"endTime":662.579,"body":"get not get into trouble, but"},{"speaker":"Bob Andersen","startTime":659.699,"endTime":662.579,"body":"ideally, on the positive side,"},{"speaker":"Bob Andersen","startTime":663.269,"endTime":667.019,"body":"learn the ropes properly, and"},{"speaker":"Bob Andersen","startTime":663.269,"endTime":667.019,"body":"make money and build wealth out"},{"speaker":"Bob Andersen","startTime":667.019,"endTime":667.859,"body":"of property development."},{"speaker":"Victor Lagos","startTime":668.61,"endTime":671.16,"body":"And I've seen you"},{"speaker":"Victor Lagos","startTime":668.61,"endTime":671.16,"body":"mentioned financial freedom as"},{"speaker":"Victor Lagos","startTime":671.16,"endTime":673.89,"body":"well. And obviously the podcast"},{"speaker":"Victor Lagos","startTime":671.16,"endTime":673.89,"body":"is called debt to financial"},{"speaker":"Victor Lagos","startTime":673.89,"endTime":677.58,"body":"freedom. So my question is, what"},{"speaker":"Victor Lagos","startTime":673.89,"endTime":677.58,"body":"does financial freedom mean to"},{"speaker":"Victor Lagos","startTime":677.58,"endTime":681.84,"body":"you? And I guess, how do you"},{"speaker":"Victor Lagos","startTime":677.58,"endTime":681.84,"body":"help your students and your"},{"speaker":"Victor Lagos","startTime":681.84,"endTime":683.07,"body":"community to achieve that?"},{"speaker":"Bob Andersen","startTime":684.3,"endTime":686.91,"body":"Yeah, I guess"},{"speaker":"Bob Andersen","startTime":684.3,"endTime":686.91,"body":"means different things to"},{"speaker":"Bob Andersen","startTime":686.91,"endTime":692.82,"body":"different people. But I mean,"},{"speaker":"Bob Andersen","startTime":686.91,"endTime":692.82,"body":"financial freedom means that,"},{"speaker":"Bob Andersen","startTime":692.88,"endTime":696.3,"body":"well, you you're in control, I"},{"speaker":"Bob Andersen","startTime":692.88,"endTime":696.3,"body":"think you're in control of your"},{"speaker":"Bob Andersen","startTime":696.3,"endTime":700.32,"body":"finances, you're in control of"},{"speaker":"Bob Andersen","startTime":696.3,"endTime":700.32,"body":"your, of your situation. So"},{"speaker":"Bob Andersen","startTime":700.32,"endTime":703.65,"body":"you're not at the whim,"},{"speaker":"Bob Andersen","startTime":700.32,"endTime":703.65,"body":"necessarily, of markets, you're"},{"speaker":"Bob Andersen","startTime":703.65,"endTime":709.02,"body":"not at the whim of, of society,"},{"speaker":"Bob Andersen","startTime":703.65,"endTime":709.02,"body":"or, or what what society's"},{"speaker":"Bob Andersen","startTime":709.02,"endTime":713.07,"body":"expectations are or view. So you"},{"speaker":"Bob Andersen","startTime":709.02,"endTime":713.07,"body":"need to rise above that. But on"},{"speaker":"Bob Andersen","startTime":713.07,"endTime":716.55,"body":"a personal point of view, I"},{"speaker":"Bob Andersen","startTime":713.07,"endTime":716.55,"body":"mean, it means to be able to do"},{"speaker":"Bob Andersen","startTime":716.55,"endTime":719.76,"body":"the sorts of things that you"},{"speaker":"Bob Andersen","startTime":716.55,"endTime":719.76,"body":"want to do, when you want to do"},{"speaker":"Bob Andersen","startTime":719.76,"endTime":723.3,"body":"them, where you want to do them"},{"speaker":"Bob Andersen","startTime":719.76,"endTime":723.3,"body":"with whom you want to do them, I"},{"speaker":"Bob Andersen","startTime":723.3,"endTime":729.93,"body":"guess, and to me that that comes"},{"speaker":"Bob Andersen","startTime":723.3,"endTime":729.93,"body":"back to, to being in control. It"},{"speaker":"Bob Andersen","startTime":729.93,"endTime":733.77,"body":"means having to work less. And"},{"speaker":"Bob Andersen","startTime":729.93,"endTime":733.77,"body":"initially, if people are"},{"speaker":"Bob Andersen","startTime":733.77,"endTime":738.06,"body":"transitioning from full time"},{"speaker":"Bob Andersen","startTime":733.77,"endTime":738.06,"body":"into ultimately, you know,"},{"speaker":"Bob Andersen","startTime":738.24,"endTime":740.58,"body":"living purely off their"},{"speaker":"Bob Andersen","startTime":738.24,"endTime":740.58,"body":"investments, it doesn't happen"},{"speaker":"Bob Andersen","startTime":740.58,"endTime":745.17,"body":"in five minutes to transitional"},{"speaker":"Bob Andersen","startTime":740.58,"endTime":745.17,"body":"process, but ultimately, living"},{"speaker":"Bob Andersen","startTime":745.17,"endTime":748.98,"body":"off passive income, and living"},{"speaker":"Bob Andersen","startTime":745.17,"endTime":748.98,"body":"off the sort of life that you"},{"speaker":"Bob Andersen","startTime":748.98,"endTime":753.39,"body":"want lifestyle. into, I think"},{"speaker":"Bob Andersen","startTime":748.98,"endTime":753.39,"body":"everybody seeks a good"},{"speaker":"Bob Andersen","startTime":753.39,"endTime":756.9,"body":"lifestyle. It's not the same for"},{"speaker":"Bob Andersen","startTime":753.39,"endTime":756.9,"body":"everybody. But whatever people's"},{"speaker":"Bob Andersen","startTime":756.9,"endTime":762.0,"body":"definition of his lifestyle, I"},{"speaker":"Bob Andersen","startTime":756.9,"endTime":762.0,"body":"think it requires time, because"},{"speaker":"Bob Andersen","startTime":762.0,"endTime":764.31,"body":"you need spare time sound good."},{"speaker":"Bob Andersen","startTime":762.0,"endTime":764.31,"body":"If you're working 80 hours a"},{"speaker":"Bob Andersen","startTime":764.31,"endTime":766.29,"body":"week in a job, you're not gonna"},{"speaker":"Bob Andersen","startTime":764.31,"endTime":766.29,"body":"have any spare time to enjoy"},{"speaker":"Bob Andersen","startTime":766.29,"endTime":770.4,"body":"life. So it requires time and"},{"speaker":"Bob Andersen","startTime":766.29,"endTime":770.4,"body":"requires money. Not that"},{"speaker":"Bob Andersen","startTime":770.61,"endTime":773.55,"body":"everything enjoyable, is related"},{"speaker":"Bob Andersen","startTime":770.61,"endTime":773.55,"body":"to money, some of the most"},{"speaker":"Bob Andersen","startTime":773.55,"endTime":776.64,"body":"enjoyable things in life don't"},{"speaker":"Bob Andersen","startTime":773.55,"endTime":776.64,"body":"actually cost money. But it's"},{"speaker":"Bob Andersen","startTime":776.64,"endTime":779.76,"body":"great if you've got it. And so"},{"speaker":"Bob Andersen","startTime":776.64,"endTime":779.76,"body":"if you've got time on your side,"},{"speaker":"Bob Andersen","startTime":780.12,"endTime":784.5,"body":"and you've got money, then then"},{"speaker":"Bob Andersen","startTime":780.12,"endTime":784.5,"body":"you can create a lifestyle. And"},{"speaker":"Bob Andersen","startTime":784.5,"endTime":787.29,"body":"that lifestyle isn't isn't"},{"speaker":"Bob Andersen","startTime":784.5,"endTime":787.29,"body":"partly building future wealth."},{"speaker":"Bob Andersen","startTime":787.29,"endTime":790.11,"body":"Of course, that's really"},{"speaker":"Bob Andersen","startTime":787.29,"endTime":790.11,"body":"important. But it's also"},{"speaker":"Bob Andersen","startTime":790.11,"endTime":795.51,"body":"enjoying life along the way, and"},{"speaker":"Bob Andersen","startTime":790.11,"endTime":795.51,"body":"not slugging it out for 40 years"},{"speaker":"Bob Andersen","startTime":795.51,"endTime":798.51,"body":"until your mid or late 60s"},{"speaker":"Bob Andersen","startTime":795.51,"endTime":798.51,"body":"Before you can take a deep"},{"speaker":"Bob Andersen","startTime":798.51,"endTime":800.04,"body":"breath and start to enjoy life."},{"speaker":"Bob Andersen","startTime":798.51,"endTime":800.04,"body":"I think."},{"speaker":"Victor Lagos","startTime":801.24,"endTime":803.31,"body":"Definitely"},{"speaker":"Victor Lagos","startTime":801.24,"endTime":803.31,"body":"speaking my language there. But"},{"speaker":"Victor Lagos","startTime":803.79,"endTime":804.93,"body":"so, you know,"},{"speaker":"Bob Andersen","startTime":804.99,"endTime":808.56,"body":"I know. I followed"},{"speaker":"Bob Andersen","startTime":804.99,"endTime":808.56,"body":"you and I know exactly how you"},{"speaker":"Bob Andersen","startTime":808.56,"endTime":811.77,"body":"think. And we're like minded in"},{"speaker":"Bob Andersen","startTime":808.56,"endTime":811.77,"body":"that respect for sure. Yeah."},{"speaker":"Victor Lagos","startTime":812.7,"endTime":814.59,"body":"Really appreciate"},{"speaker":"Victor Lagos","startTime":812.7,"endTime":814.59,"body":"you sharing some of your"},{"speaker":"Victor Lagos","startTime":814.59,"endTime":817.65,"body":"insights today. And I want to"},{"speaker":"Victor Lagos","startTime":814.59,"endTime":817.65,"body":"ask you, I guess, how does"},{"speaker":"Victor Lagos","startTime":817.65,"endTime":820.83,"body":"property development fit into,"},{"speaker":"Victor Lagos","startTime":817.65,"endTime":820.83,"body":"you know, creating passive"},{"speaker":"Victor Lagos","startTime":820.83,"endTime":823.23,"body":"income streams? Because"},{"speaker":"Victor Lagos","startTime":820.83,"endTime":823.23,"body":"obviously, it's more about"},{"speaker":"Victor Lagos","startTime":823.41,"endTime":826.68,"body":"profit, right? When you when you"},{"speaker":"Victor Lagos","startTime":823.41,"endTime":826.68,"body":"subdivide land, when you when"},{"speaker":"Victor Lagos","startTime":826.68,"endTime":830.19,"body":"you when you build and then you"},{"speaker":"Victor Lagos","startTime":826.68,"endTime":830.19,"body":"sell? You're sort of cashing in"},{"speaker":"Victor Lagos","startTime":830.19,"endTime":833.91,"body":"on that. So it's profit related?"},{"speaker":"Victor Lagos","startTime":830.19,"endTime":833.91,"body":"How does that tie into creating"},{"speaker":"Victor Lagos","startTime":833.91,"endTime":834.9,"body":"passive income streams?"},{"speaker":"Bob Andersen","startTime":836.43,"endTime":838.98,"body":"But you are"},{"speaker":"Bob Andersen","startTime":836.43,"endTime":838.98,"body":"correct, and that its profit"},{"speaker":"Bob Andersen","startTime":838.98,"endTime":841.83,"body":"related? Because we don't do"},{"speaker":"Bob Andersen","startTime":838.98,"endTime":841.83,"body":"property development if we don't"},{"speaker":"Bob Andersen","startTime":841.83,"endTime":845.91,"body":"intend to make a profit. But I"},{"speaker":"Bob Andersen","startTime":841.83,"endTime":845.91,"body":"suppose you could take one step"},{"speaker":"Bob Andersen","startTime":845.91,"endTime":849.87,"body":"back, we're talking property"},{"speaker":"Bob Andersen","startTime":845.91,"endTime":849.87,"body":"development. And property is a"},{"speaker":"Bob Andersen","startTime":849.87,"endTime":853.11,"body":"great asset class. I love it."},{"speaker":"Bob Andersen","startTime":849.87,"endTime":853.11,"body":"Yeah, it's the one I got"},{"speaker":"Bob Andersen","startTime":853.11,"endTime":855.48,"body":"involved in early in the piece."},{"speaker":"Bob Andersen","startTime":853.11,"endTime":855.48,"body":"That's the one I've stuck with."},{"speaker":"Bob Andersen","startTime":855.48,"endTime":859.77,"body":"And we know that property is a"},{"speaker":"Bob Andersen","startTime":855.48,"endTime":859.77,"body":"good long term tax effective,"},{"speaker":"Bob Andersen","startTime":859.8,"endTime":862.59,"body":"proven way of building wealth."},{"speaker":"Bob Andersen","startTime":859.8,"endTime":862.59,"body":"It's not the only one. I mean,"},{"speaker":"Bob Andersen","startTime":862.59,"endTime":868.11,"body":"I'm not, you know, 100% property"},{"speaker":"Bob Andersen","startTime":862.59,"endTime":868.11,"body":"and 0%. All other strategies,"},{"speaker":"Bob Andersen","startTime":868.32,"endTime":872.37,"body":"you know, outside of property,"},{"speaker":"Bob Andersen","startTime":868.32,"endTime":872.37,"body":"not at all. But it's the one I"},{"speaker":"Bob Andersen","startTime":872.37,"endTime":876.78,"body":"chose, and it's the one that I"},{"speaker":"Bob Andersen","startTime":872.37,"endTime":876.78,"body":"put most of my effort into. And"},{"speaker":"Bob Andersen","startTime":876.78,"endTime":880.02,"body":"so we could say, well, I could"},{"speaker":"Bob Andersen","startTime":876.78,"endTime":880.02,"body":"have chosen property, in my case"},{"speaker":"Bob Andersen","startTime":880.02,"endTime":885.39,"body":"to build wealth, but property"},{"speaker":"Bob Andersen","startTime":880.02,"endTime":885.39,"body":"development. Yes, we do intend"},{"speaker":"Bob Andersen","startTime":885.39,"endTime":887.79,"body":"to make a profit and we do to"},{"speaker":"Bob Andersen","startTime":885.39,"endTime":887.79,"body":"make a profit, certainly"},{"speaker":"Bob Andersen","startTime":887.79,"endTime":892.44,"body":"intention. But when you sell"},{"speaker":"Bob Andersen","startTime":887.79,"endTime":892.44,"body":"your product at the other end,"},{"speaker":"Bob Andersen","startTime":892.44,"endTime":894.9,"body":"let's let's keep it really"},{"speaker":"Bob Andersen","startTime":892.44,"endTime":894.9,"body":"simple. As an example. Let's say"},{"speaker":"Bob Andersen","startTime":894.9,"endTime":898.35,"body":"we were to build a duplex. So"},{"speaker":"Bob Andersen","startTime":894.9,"endTime":898.35,"body":"two units, we build a duplex."},{"speaker":"Bob Andersen","startTime":898.98,"endTime":902.34,"body":"We've got a have a number of"},{"speaker":"Bob Andersen","startTime":898.98,"endTime":902.34,"body":"options at the end of that, we"},{"speaker":"Bob Andersen","startTime":902.34,"endTime":905.76,"body":"could sell them both. We could"},{"speaker":"Bob Andersen","startTime":902.34,"endTime":905.76,"body":"keep them both as investments,"},{"speaker":"Bob Andersen","startTime":905.79,"endTime":909.75,"body":"or we could even do a mix, we"},{"speaker":"Bob Andersen","startTime":905.79,"endTime":909.75,"body":"could sell one and keep one. And"},{"speaker":"Bob Andersen","startTime":909.81,"endTime":911.67,"body":"that's one of the great things"},{"speaker":"Bob Andersen","startTime":909.81,"endTime":911.67,"body":"to love about property"},{"speaker":"Bob Andersen","startTime":911.67,"endTime":916.14,"body":"development is the flexibility"},{"speaker":"Bob Andersen","startTime":911.67,"endTime":916.14,"body":"of being able to sell or, or to"},{"speaker":"Bob Andersen","startTime":916.14,"endTime":922.32,"body":"keep what we create. So, if we"},{"speaker":"Bob Andersen","startTime":916.14,"endTime":922.32,"body":"sell, we make a cash profit, and"},{"speaker":"Bob Andersen","startTime":922.32,"endTime":925.41,"body":"we pay tax on that profit. And"},{"speaker":"Bob Andersen","startTime":922.32,"endTime":925.41,"body":"we're left with that. And that's"},{"speaker":"Bob Andersen","startTime":925.41,"endTime":928.77,"body":"the same as any business"},{"speaker":"Bob Andersen","startTime":925.41,"endTime":928.77,"body":"operation where you have gross"},{"speaker":"Bob Andersen","startTime":928.77,"endTime":932.16,"body":"income, less your expenses"},{"speaker":"Bob Andersen","startTime":928.77,"endTime":932.16,"body":"equals your net, and you pay tax"},{"speaker":"Bob Andersen","startTime":932.16,"endTime":934.86,"body":"on it, it's no different in"},{"speaker":"Bob Andersen","startTime":932.16,"endTime":934.86,"body":"property development, except"},{"speaker":"Bob Andersen","startTime":934.86,"endTime":939.27,"body":"that the numbers can be quite"},{"speaker":"Bob Andersen","startTime":934.86,"endTime":939.27,"body":"substantial in terms of how much"},{"speaker":"Bob Andersen","startTime":939.27,"endTime":942.48,"body":"it can make, I never worry about"},{"speaker":"Bob Andersen","startTime":939.27,"endTime":942.48,"body":"paying tax, I'd love to pay more"},{"speaker":"Bob Andersen","startTime":942.48,"endTime":945.84,"body":"tax next year than I did this"},{"speaker":"Bob Andersen","startTime":942.48,"endTime":945.84,"body":"year, for instance, which means"},{"speaker":"Bob Andersen","startTime":945.84,"endTime":949.23,"body":"I'm making more money. So don't"},{"speaker":"Bob Andersen","startTime":945.84,"endTime":949.23,"body":"ever worry about tax, what"},{"speaker":"Bob Andersen","startTime":949.23,"endTime":951.39,"body":"you're doing at cost is to be"},{"speaker":"Bob Andersen","startTime":949.23,"endTime":951.39,"body":"structured the best way you can"},{"speaker":"Bob Andersen","startTime":951.39,"endTime":954.63,"body":"to minimize your tax, but I"},{"speaker":"Bob Andersen","startTime":951.39,"endTime":954.63,"body":"never worry about paying it. So"},{"speaker":"Bob Andersen","startTime":954.66,"endTime":958.83,"body":"so what we sell, that's income,"},{"speaker":"Bob Andersen","startTime":954.66,"endTime":958.83,"body":"and that's cash. And we need"},{"speaker":"Bob Andersen","startTime":958.83,"endTime":961.71,"body":"cash, don't we we need, you"},{"speaker":"Bob Andersen","startTime":958.83,"endTime":961.71,"body":"know, we have to go to Kohl's,"},{"speaker":"Bob Andersen","startTime":961.86,"endTime":963.84,"body":"every week, whatever it is, and"},{"speaker":"Bob Andersen","startTime":961.86,"endTime":963.84,"body":"buy our groceries, you got to"},{"speaker":"Bob Andersen","startTime":963.84,"endTime":967.68,"body":"pay your utility bills, we the"},{"speaker":"Bob Andersen","startTime":963.84,"endTime":967.68,"body":"lifestyle I just spoke about it"},{"speaker":"Bob Andersen","startTime":967.68,"endTime":971.4,"body":"requires cash, you know when to"},{"speaker":"Bob Andersen","startTime":967.68,"endTime":971.4,"body":"travel or when to help other"},{"speaker":"Bob Andersen","startTime":971.4,"endTime":974.28,"body":"people, whatever, whatever we're"},{"speaker":"Bob Andersen","startTime":971.4,"endTime":974.28,"body":"doing, we need cash, and we get"},{"speaker":"Bob Andersen","startTime":974.28,"endTime":978.66,"body":"our cash from what we sell. But"},{"speaker":"Bob Andersen","startTime":974.28,"endTime":978.66,"body":"what we want to do as"},{"speaker":"Bob Andersen","startTime":978.66,"endTime":981.66,"body":"developers, if not immediately,"},{"speaker":"Bob Andersen","startTime":978.66,"endTime":981.66,"body":"then along the way, you start to"},{"speaker":"Bob Andersen","startTime":981.66,"endTime":983.91,"body":"keep some of the property that"},{"speaker":"Bob Andersen","startTime":981.66,"endTime":983.91,"body":"we create. And this is how we"},{"speaker":"Bob Andersen","startTime":983.91,"endTime":988.29,"body":"build long term wealth. Just as"},{"speaker":"Bob Andersen","startTime":983.91,"endTime":988.29,"body":"you know, somebody out in the"},{"speaker":"Bob Andersen","startTime":988.29,"endTime":990.93,"body":"normal market might buy property"},{"speaker":"Bob Andersen","startTime":988.29,"endTime":990.93,"body":"investments for long term"},{"speaker":"Bob Andersen","startTime":990.93,"endTime":993.09,"body":"wealth, they're looking at cash"},{"speaker":"Bob Andersen","startTime":990.93,"endTime":993.09,"body":"flow, they're looking at capital"},{"speaker":"Bob Andersen","startTime":993.12,"endTime":996.15,"body":"growth. Well, that's, that's"},{"speaker":"Bob Andersen","startTime":993.12,"endTime":996.15,"body":"great. But a big advantage,"},{"speaker":"Bob Andersen","startTime":996.15,"endTime":999.66,"body":"we're developers, we create"},{"speaker":"Bob Andersen","startTime":996.15,"endTime":999.66,"body":"property at absolute real cost."},{"speaker":"Bob Andersen","startTime":999.99,"endTime":1004.28,"body":"So we don't pay retail, we don't"},{"speaker":"Bob Andersen","startTime":999.99,"endTime":1004.28,"body":"even pay wholesale, we pay real"},{"speaker":"Bob Andersen","startTime":1004.28,"endTime":1008.99,"body":"costs, we create it out of out"},{"speaker":"Bob Andersen","startTime":1004.28,"endTime":1008.99,"body":"of well, when they're gonna say"},{"speaker":"Bob Andersen","startTime":1008.99,"endTime":1012.29,"body":"out of nothing, but we created"},{"speaker":"Bob Andersen","startTime":1008.99,"endTime":1012.29,"body":"more craftsmen. And that means"},{"speaker":"Bob Andersen","startTime":1012.29,"endTime":1016.55,"body":"we're getting Yeah, exactly. So"},{"speaker":"Bob Andersen","startTime":1012.29,"endTime":1016.55,"body":"we can acquire property, way"},{"speaker":"Bob Andersen","startTime":1016.55,"endTime":1020.21,"body":"cheaper than than the normal"},{"speaker":"Bob Andersen","startTime":1016.55,"endTime":1020.21,"body":"person who simply goes and buys"},{"speaker":"Bob Andersen","startTime":1020.21,"endTime":1023.87,"body":"finished product. And that's how"},{"speaker":"Bob Andersen","startTime":1020.21,"endTime":1023.87,"body":"we build long term wealth,"},{"speaker":"Bob Andersen","startTime":1023.87,"endTime":1027.68,"body":"because that enabled us to as"},{"speaker":"Bob Andersen","startTime":1023.87,"endTime":1027.68,"body":"developers to build a"},{"speaker":"Bob Andersen","startTime":1027.68,"endTime":1032.9,"body":"substantial property portfolio,"},{"speaker":"Bob Andersen","startTime":1027.68,"endTime":1032.9,"body":"but quicker than we can in the"},{"speaker":"Bob Andersen","startTime":1032.9,"endTime":1038.33,"body":"normal retail market where we"},{"speaker":"Bob Andersen","startTime":1032.9,"endTime":1038.33,"body":"paying retail price. So and so"},{"speaker":"Bob Andersen","startTime":1038.33,"endTime":1042.29,"body":"as developers, when we finish"},{"speaker":"Bob Andersen","startTime":1038.33,"endTime":1042.29,"body":"developing a product, we can use"},{"speaker":"Bob Andersen","startTime":1042.29,"endTime":1045.98,"body":"our profit. At the other end,"},{"speaker":"Bob Andersen","startTime":1042.29,"endTime":1045.98,"body":"when we finance and hold up, we"},{"speaker":"Bob Andersen","startTime":1045.98,"endTime":1050.57,"body":"use that profit as our deposit."},{"speaker":"Bob Andersen","startTime":1045.98,"endTime":1050.57,"body":"So unlike the normal market,"},{"speaker":"Bob Andersen","startTime":1050.57,"endTime":1053.69,"body":"where we pay retail price, we"},{"speaker":"Bob Andersen","startTime":1050.57,"endTime":1053.69,"body":"have to pay deposit, we normally"},{"speaker":"Bob Andersen","startTime":1053.9,"endTime":1057.32,"body":"do that by harvesting equity or"},{"speaker":"Bob Andersen","startTime":1053.9,"endTime":1057.32,"body":"other properties that have grown"},{"speaker":"Bob Andersen","startTime":1057.32,"endTime":1060.68,"body":"in value. And that's, that's"},{"speaker":"Bob Andersen","startTime":1057.32,"endTime":1060.68,"body":"great. But we can do it a lot"},{"speaker":"Bob Andersen","startTime":1060.68,"endTime":1063.32,"body":"quicker as property developers."},{"speaker":"Bob Andersen","startTime":1060.68,"endTime":1063.32,"body":"And so that's the long term"},{"speaker":"Bob Andersen","startTime":1063.32,"endTime":1067.16,"body":"wealth thing. And we've got that"},{"speaker":"Bob Andersen","startTime":1063.32,"endTime":1067.16,"body":"flexibility. We need cash, we"},{"speaker":"Bob Andersen","startTime":1067.16,"endTime":1070.64,"body":"sell stuff, we build long term"},{"speaker":"Bob Andersen","startTime":1067.16,"endTime":1070.64,"body":"wealth, we hold our product."},{"speaker":"Bob Andersen","startTime":1070.79,"endTime":1071.09,"body":"Yeah, it"},{"speaker":"Victor Lagos","startTime":1071.09,"endTime":1073.16,"body":"makes sense. It"},{"speaker":"Victor Lagos","startTime":1071.09,"endTime":1073.16,"body":"actually sounds like flexibility"},{"speaker":"Victor Lagos","startTime":1073.22,"endTime":1077.42,"body":"and no brainer for anyone to do"},{"speaker":"Victor Lagos","startTime":1073.22,"endTime":1077.42,"body":"property development. But and I"},{"speaker":"Victor Lagos","startTime":1077.42,"endTime":1081.35,"body":"think it's one of those things"},{"speaker":"Victor Lagos","startTime":1077.42,"endTime":1081.35,"body":"that if it was easy, everyone"},{"speaker":"Victor Lagos","startTime":1081.35,"endTime":1085.61,"body":"would be doing it. And there are"},{"speaker":"Victor Lagos","startTime":1081.35,"endTime":1085.61,"body":"inherent risks when you do"},{"speaker":"Victor Lagos","startTime":1085.61,"endTime":1088.64,"body":"property development, of course."},{"speaker":"Victor Lagos","startTime":1085.61,"endTime":1088.64,"body":"And I want to ask you, from your"},{"speaker":"Victor Lagos","startTime":1088.64,"endTime":1090.62,"body":"experience, because you've"},{"speaker":"Victor Lagos","startTime":1088.64,"endTime":1090.62,"body":"obviously been doing it for a"},{"speaker":"Victor Lagos","startTime":1090.62,"endTime":1094.76,"body":"long time. What are the biggest"},{"speaker":"Victor Lagos","startTime":1090.62,"endTime":1094.76,"body":"risks for first time developers,"},{"speaker":"Victor Lagos","startTime":1094.94,"endTime":1096.62,"body":"as well as experienced"},{"speaker":"Victor Lagos","startTime":1094.94,"endTime":1096.62,"body":"developers?"},{"speaker":"Bob Andersen","startTime":1099.11,"endTime":1101.54,"body":"Yeah, definitely,"},{"speaker":"Bob Andersen","startTime":1099.11,"endTime":1101.54,"body":"for first time. First time"},{"speaker":"Bob Andersen","startTime":1101.54,"endTime":1107.51,"body":"developers, it's going in there"},{"speaker":"Bob Andersen","startTime":1101.54,"endTime":1107.51,"body":"with little or no knowledge. To"},{"speaker":"Bob Andersen","startTime":1107.51,"endTime":1109.49,"body":"think that you can learn"},{"speaker":"Bob Andersen","startTime":1107.51,"endTime":1109.49,"body":"everything about property"},{"speaker":"Bob Andersen","startTime":1109.49,"endTime":1113.9,"body":"development, free online, you"},{"speaker":"Bob Andersen","startTime":1109.49,"endTime":1113.9,"body":"can certainly find some good"},{"speaker":"Bob Andersen","startTime":1113.9,"endTime":1118.37,"body":"articles and blogs, all sorts of"},{"speaker":"Bob Andersen","startTime":1113.9,"endTime":1118.37,"body":"things there. But the detail"},{"speaker":"Bob Andersen","startTime":1118.37,"endTime":1120.62,"body":"that you need to know to to"},{"speaker":"Bob Andersen","startTime":1118.37,"endTime":1120.62,"body":"effectively do a property"},{"speaker":"Bob Andersen","startTime":1120.62,"endTime":1125.24,"body":"development is not, it's not"},{"speaker":"Bob Andersen","startTime":1120.62,"endTime":1125.24,"body":"just there. And so you need to"},{"speaker":"Bob Andersen","startTime":1125.51,"endTime":1130.55,"body":"educate yourself and do a"},{"speaker":"Bob Andersen","startTime":1125.51,"endTime":1130.55,"body":"property development course. For"},{"speaker":"Bob Andersen","startTime":1130.55,"endTime":1137.21,"body":"sure, before you launch into"},{"speaker":"Bob Andersen","startTime":1130.55,"endTime":1137.21,"body":"doing a development. And it's,"},{"speaker":"Bob Andersen","startTime":1137.24,"endTime":1139.52,"body":"that's really important. And"},{"speaker":"Bob Andersen","startTime":1137.24,"endTime":1139.52,"body":"that's where I see people going"},{"speaker":"Bob Andersen","startTime":1139.58,"endTime":1141.53,"body":"going wrong, sometimes,"},{"speaker":"Bob Andersen","startTime":1139.58,"endTime":1141.53,"body":"obviously, I'm out in the"},{"speaker":"Bob Andersen","startTime":1141.53,"endTime":1145.22,"body":"marketplace quite a lot. We even"},{"speaker":"Bob Andersen","startTime":1141.53,"endTime":1145.22,"body":"get calls from people or maybe a"},{"speaker":"Bob Andersen","startTime":1145.22,"endTime":1149.6,"body":"little bit of trouble. And it's"},{"speaker":"Bob Andersen","startTime":1145.22,"endTime":1149.6,"body":"often because they simply never"},{"speaker":"Bob Andersen","startTime":1149.69,"endTime":1151.94,"body":"never educated themselves or"},{"speaker":"Bob Andersen","startTime":1149.69,"endTime":1151.94,"body":"just launched into it. They"},{"speaker":"Bob Andersen","startTime":1151.94,"endTime":1154.52,"body":"thought it's a good idea. I'll"},{"speaker":"Bob Andersen","startTime":1151.94,"endTime":1154.52,"body":"sort of have a look around. I'll"},{"speaker":"Bob Andersen","startTime":1154.52,"endTime":1156.92,"body":"try and reverse engineer what"},{"speaker":"Bob Andersen","startTime":1154.52,"endTime":1156.92,"body":"I've seen other people do on the"},{"speaker":"Bob Andersen","startTime":1156.92,"endTime":1160.61,"body":"sideline and, and that's how you"},{"speaker":"Bob Andersen","startTime":1156.92,"endTime":1160.61,"body":"get into trouble. So that to me,"},{"speaker":"Bob Andersen","startTime":1160.61,"endTime":1163.7,"body":"that's the most important thing."},{"speaker":"Bob Andersen","startTime":1160.61,"endTime":1163.7,"body":"That's the biggest risk. The"},{"speaker":"Bob Andersen","startTime":1163.7,"endTime":1169.34,"body":"biggest mistake people make when"},{"speaker":"Bob Andersen","startTime":1163.7,"endTime":1169.34,"body":"they when they're new. In terms"},{"speaker":"Bob Andersen","startTime":1169.34,"endTime":1173.36,"body":"of experienced developers,"},{"speaker":"Bob Andersen","startTime":1169.34,"endTime":1173.36,"body":"obviously, they've got past the"},{"speaker":"Bob Andersen","startTime":1173.36,"endTime":1178.07,"body":"education stage, they've got"},{"speaker":"Bob Andersen","startTime":1173.36,"endTime":1178.07,"body":"knowledge. Sometimes, I think"},{"speaker":"Bob Andersen","startTime":1178.07,"endTime":1182.93,"body":"they extend themselves. When"},{"speaker":"Bob Andersen","startTime":1178.07,"endTime":1182.93,"body":"I've seen developers, larger"},{"speaker":"Bob Andersen","startTime":1182.93,"endTime":1186.95,"body":"developers get into into"},{"speaker":"Bob Andersen","startTime":1182.93,"endTime":1186.95,"body":"trouble. It's often because"},{"speaker":"Bob Andersen","startTime":1186.95,"endTime":1190.58,"body":"they've taken on too much or too"},{"speaker":"Bob Andersen","startTime":1186.95,"endTime":1190.58,"body":"many projects. It's hard to say"},{"speaker":"Bob Andersen","startTime":1190.58,"endTime":1193.34,"body":"no. Sometimes when you find"},{"speaker":"Bob Andersen","startTime":1190.58,"endTime":1193.34,"body":"another good project and you"},{"speaker":"Bob Andersen","startTime":1193.34,"endTime":1196.91,"body":"just jump in there quite often"},{"speaker":"Bob Andersen","startTime":1193.34,"endTime":1196.91,"body":"that they really highly did."},{"speaker":"Bob Andersen","startTime":1198.32,"endTime":1201.65,"body":"They may be you know on I'm not"},{"speaker":"Bob Andersen","startTime":1198.32,"endTime":1201.65,"body":"against, for instance, using"},{"speaker":"Bob Andersen","startTime":1201.92,"endTime":1204.98,"body":"different layers of finance,"},{"speaker":"Bob Andersen","startTime":1201.92,"endTime":1204.98,"body":"including mezzanine finance, but"},{"speaker":"Bob Andersen","startTime":1205.04,"endTime":1210.08,"body":"but I've seen developers to get"},{"speaker":"Bob Andersen","startTime":1205.04,"endTime":1210.08,"body":"the most out of their their"},{"speaker":"Bob Andersen","startTime":1210.08,"endTime":1213.41,"body":"equity take on too many"},{"speaker":"Bob Andersen","startTime":1210.08,"endTime":1213.41,"body":"projects, very highly geared,"},{"speaker":"Bob Andersen","startTime":1213.5,"endTime":1217.97,"body":"you know, using senior debt and"},{"speaker":"Bob Andersen","startTime":1213.5,"endTime":1217.97,"body":"mezzanine debt and at high"},{"speaker":"Bob Andersen","startTime":1217.97,"endTime":1220.13,"body":"interest, and you know, you only"},{"speaker":"Bob Andersen","startTime":1217.97,"endTime":1220.13,"body":"need a bit of a couple of"},{"speaker":"Bob Andersen","startTime":1220.13,"endTime":1224.75,"body":"hiccups. And, you know, one gets"},{"speaker":"Bob Andersen","startTime":1220.13,"endTime":1224.75,"body":"in trouble in there can be a"},{"speaker":"Bob Andersen","startTime":1224.75,"endTime":1230.39,"body":"domino effect. So, I think there"},{"speaker":"Bob Andersen","startTime":1224.75,"endTime":1230.39,"body":"needs to be a certain element of"},{"speaker":"Bob Andersen","startTime":1230.39,"endTime":1233.75,"body":"conservatism. When respect when"},{"speaker":"Bob Andersen","startTime":1230.39,"endTime":1233.75,"body":"you're doing property"},{"speaker":"Bob Andersen","startTime":1233.81,"endTime":1239.0,"body":"development, and work within"},{"speaker":"Bob Andersen","startTime":1233.81,"endTime":1239.0,"body":"your, your comfort zone, I'm"},{"speaker":"Bob Andersen","startTime":1239.0,"endTime":1242.48,"body":"sure yourself, when you've"},{"speaker":"Bob Andersen","startTime":1239.0,"endTime":1242.48,"body":"helped finance people into"},{"speaker":"Bob Andersen","startTime":1242.51,"endTime":1245.3,"body":"development projects here,"},{"speaker":"Bob Andersen","startTime":1242.51,"endTime":1245.3,"body":"you'll feel a lot more"},{"speaker":"Bob Andersen","startTime":1245.3,"endTime":1247.91,"body":"comfortable when you know that"},{"speaker":"Bob Andersen","startTime":1245.3,"endTime":1247.91,"body":"they're doing it safely. And"},{"speaker":"Bob Andersen","startTime":1247.91,"endTime":1252.41,"body":"they're extending themselves to"},{"speaker":"Bob Andersen","startTime":1247.91,"endTime":1252.41,"body":"the last cent. It's not a good"},{"speaker":"Bob Andersen","startTime":1252.41,"endTime":1253.25,"body":"position to be in."},{"speaker":"Victor Lagos","startTime":1253.64,"endTime":1256.55,"body":"Yeah, definitely."},{"speaker":"Victor Lagos","startTime":1253.64,"endTime":1256.55,"body":"You've definitely touched on the"},{"speaker":"Victor Lagos","startTime":1256.61,"endTime":1261.5,"body":"gearing and skills too much."},{"speaker":"Victor Lagos","startTime":1256.61,"endTime":1261.5,"body":"And, you know, banks, everyone"},{"speaker":"Victor Lagos","startTime":1261.5,"endTime":1264.83,"body":"would like to get a bank loan,"},{"speaker":"Victor Lagos","startTime":1261.5,"endTime":1264.83,"body":"because usually the cheapest"},{"speaker":"Victor Lagos","startTime":1264.83,"endTime":1267.8,"body":"interest rates, you know,"},{"speaker":"Victor Lagos","startTime":1264.83,"endTime":1267.8,"body":"they'll extend it over a longer"},{"speaker":"Victor Lagos","startTime":1267.8,"endTime":1271.97,"body":"term. But the moment you start"},{"speaker":"Victor Lagos","startTime":1267.8,"endTime":1271.97,"body":"building or developing property"},{"speaker":"Victor Lagos","startTime":1271.97,"endTime":1275.57,"body":"for profit, when you start"},{"speaker":"Victor Lagos","startTime":1271.97,"endTime":1275.57,"body":"going, say, three, four titles,"},{"speaker":"Victor Lagos","startTime":1275.9,"endTime":1279.92,"body":"and more, it's considered"},{"speaker":"Victor Lagos","startTime":1275.9,"endTime":1279.92,"body":"commercial lending, rather than"},{"speaker":"Victor Lagos","startTime":1279.95,"endTime":1282.59,"body":"residential. And even if you're"},{"speaker":"Victor Lagos","startTime":1279.95,"endTime":1282.59,"body":"building residential property,"},{"speaker":"Victor Lagos","startTime":1283.16,"endTime":1285.32,"body":"from your experience, why would"},{"speaker":"Victor Lagos","startTime":1283.16,"endTime":1285.32,"body":"you say that is?"},{"speaker":"Bob Andersen","startTime":1288.11,"endTime":1291.65,"body":"Well, I think that"},{"speaker":"Bob Andersen","startTime":1288.11,"endTime":1291.65,"body":"the banks and I'm talking about"},{"speaker":"Bob Andersen","startTime":1291.83,"endTime":1295.04,"body":"the retail arm of a bank, which"},{"speaker":"Bob Andersen","startTime":1291.83,"endTime":1295.04,"body":"is what you're referring to the,"},{"speaker":"Bob Andersen","startTime":1295.13,"endTime":1298.16,"body":"you know, the lower interest,"},{"speaker":"Bob Andersen","startTime":1295.13,"endTime":1298.16,"body":"the sort of banking that most"},{"speaker":"Bob Andersen","startTime":1298.16,"endTime":1300.26,"body":"people are used to when they're"},{"speaker":"Bob Andersen","startTime":1298.16,"endTime":1300.26,"body":"buying their house for an"},{"speaker":"Bob Andersen","startTime":1300.26,"endTime":1304.31,"body":"investment property. So,"},{"speaker":"Bob Andersen","startTime":1300.26,"endTime":1304.31,"body":"retailer, they make their money"},{"speaker":"Bob Andersen","startTime":1304.31,"endTime":1308.51,"body":"by lower lower interest rates,"},{"speaker":"Bob Andersen","startTime":1304.31,"endTime":1308.51,"body":"then over a long period of time."},{"speaker":"Bob Andersen","startTime":1308.51,"endTime":1313.7,"body":"So I'd love a 20 year 30 year"},{"speaker":"Bob Andersen","startTime":1308.51,"endTime":1313.7,"body":"loan, if you still get 30 year"},{"speaker":"Bob Andersen","startTime":1313.7,"endTime":1317.96,"body":"loans, I'm too old for that. But"},{"speaker":"Bob Andersen","startTime":1313.7,"endTime":1317.96,"body":"low interest rate long term,"},{"speaker":"Bob Andersen","startTime":1317.96,"endTime":1321.38,"body":"that's how they make their"},{"speaker":"Bob Andersen","startTime":1317.96,"endTime":1321.38,"body":"money. And so if somebody was to"},{"speaker":"Bob Andersen","startTime":1321.92,"endTime":1326.63,"body":"use that sort of Finance to do a"},{"speaker":"Bob Andersen","startTime":1321.92,"endTime":1326.63,"body":"development, the bank wouldn't"},{"speaker":"Bob Andersen","startTime":1326.63,"endTime":1329.69,"body":"make much out of it. It's such a"},{"speaker":"Bob Andersen","startTime":1326.63,"endTime":1329.69,"body":"low interest rate. But for such"},{"speaker":"Bob Andersen","startTime":1329.69,"endTime":1332.3,"body":"a short amount of time, I mean,"},{"speaker":"Bob Andersen","startTime":1329.69,"endTime":1332.3,"body":"the loan might be 12 months, 18"},{"speaker":"Bob Andersen","startTime":1332.3,"endTime":1335.36,"body":"months, whatever it is two years"},{"speaker":"Bob Andersen","startTime":1332.3,"endTime":1335.36,"body":"at a low interest rate. And by"},{"speaker":"Bob Andersen","startTime":1335.36,"endTime":1337.46,"body":"the time they wrote in their"},{"speaker":"Bob Andersen","startTime":1335.36,"endTime":1337.46,"body":"upfront costs, and hearing that"},{"speaker":"Bob Andersen","startTime":1337.46,"endTime":1339.95,"body":"probably, it's probably not"},{"speaker":"Bob Andersen","startTime":1337.46,"endTime":1339.95,"body":"worth the bother. And that's why"},{"speaker":"Bob Andersen","startTime":1339.95,"endTime":1342.53,"body":"I think that they're not all"},{"speaker":"Bob Andersen","startTime":1339.95,"endTime":1342.53,"body":"that in favor, they're more"},{"speaker":"Bob Andersen","startTime":1342.53,"endTime":1346.34,"body":"likely to send you off to their"},{"speaker":"Bob Andersen","startTime":1342.53,"endTime":1346.34,"body":"commercial arm for a start,"},{"speaker":"Bob Andersen","startTime":1347.54,"endTime":1350.84,"body":"where they make their money by"},{"speaker":"Bob Andersen","startTime":1347.54,"endTime":1350.84,"body":"charging highest higher interest"},{"speaker":"Bob Andersen","startTime":1350.84,"endTime":1354.41,"body":"rate for a short period of time."},{"speaker":"Bob Andersen","startTime":1350.84,"endTime":1354.41,"body":"But then, you and I know that"},{"speaker":"Bob Andersen","startTime":1354.41,"endTime":1357.11,"body":"the banks have been pretty tough"},{"speaker":"Bob Andersen","startTime":1354.41,"endTime":1357.11,"body":"the last few years, and you"},{"speaker":"Bob Andersen","startTime":1357.11,"endTime":1360.44,"body":"can't always be guaranteed a"},{"speaker":"Bob Andersen","startTime":1357.11,"endTime":1360.44,"body":"bank alone, even at the"},{"speaker":"Bob Andersen","startTime":1360.44,"endTime":1363.71,"body":"commercial arm of a bank. And"},{"speaker":"Bob Andersen","startTime":1360.44,"endTime":1363.71,"body":"fortunately, there is other"},{"speaker":"Bob Andersen","startTime":1363.77,"endTime":1367.22,"body":"other resources outside of the"},{"speaker":"Bob Andersen","startTime":1363.77,"endTime":1367.22,"body":"banking system for developers."},{"speaker":"Bob Andersen","startTime":1367.22,"endTime":1369.77,"body":"So I think that's the reason I"},{"speaker":"Bob Andersen","startTime":1367.22,"endTime":1369.77,"body":"wanted"},{"speaker":"Victor Lagos","startTime":1369.77,"endTime":1372.05,"body":"to touch on that a"},{"speaker":"Victor Lagos","startTime":1369.77,"endTime":1372.05,"body":"little bit. Because a lot of"},{"speaker":"Victor Lagos","startTime":1372.05,"endTime":1374.96,"body":"people have experienced dealing"},{"speaker":"Victor Lagos","startTime":1372.05,"endTime":1374.96,"body":"with banks, first tier, second"},{"speaker":"Victor Lagos","startTime":1374.96,"endTime":1378.11,"body":"tier, the retail, some of my"},{"speaker":"Victor Lagos","startTime":1374.96,"endTime":1378.11,"body":"lessons, I've got experience"},{"speaker":"Victor Lagos","startTime":1378.11,"endTime":1380.99,"body":"dealing with commercial finance"},{"speaker":"Victor Lagos","startTime":1378.11,"endTime":1380.99,"body":"buying commercial properties"},{"speaker":"Victor Lagos","startTime":1380.99,"endTime":1385.55,"body":"still buy and hold. But there"},{"speaker":"Victor Lagos","startTime":1380.99,"endTime":1385.55,"body":"are non banks, and there's"},{"speaker":"Victor Lagos","startTime":1385.55,"endTime":1390.95,"body":"private lenders that really hone"},{"speaker":"Victor Lagos","startTime":1385.55,"endTime":1390.95,"body":"in on this space of development."},{"speaker":"Victor Lagos","startTime":1390.95,"endTime":1395.42,"body":"Why do you think it's their main"},{"speaker":"Victor Lagos","startTime":1390.95,"endTime":1395.42,"body":"focus compared to the banks? Why"},{"speaker":"Victor Lagos","startTime":1395.42,"endTime":1397.19,"body":"can they do stuff that the banks"},{"speaker":"Victor Lagos","startTime":1395.42,"endTime":1397.19,"body":"can't?"},{"speaker":"Bob Andersen","startTime":1399.62,"endTime":1401.96,"body":"Well, it's"},{"speaker":"Bob Andersen","startTime":1399.62,"endTime":1401.96,"body":"probably one of the main reasons"},{"speaker":"Bob Andersen","startTime":1401.96,"endTime":1405.77,"body":"is that the banks are very"},{"speaker":"Bob Andersen","startTime":1401.96,"endTime":1405.77,"body":"conservative by nature. I mean,"},{"speaker":"Bob Andersen","startTime":1405.77,"endTime":1408.71,"body":"they don't have to extend"},{"speaker":"Bob Andersen","startTime":1405.77,"endTime":1408.71,"body":"themselves to make money, they"},{"speaker":"Bob Andersen","startTime":1408.71,"endTime":1412.22,"body":"make so much money out of fees"},{"speaker":"Bob Andersen","startTime":1408.71,"endTime":1412.22,"body":"for a start, you know, before"},{"speaker":"Bob Andersen","startTime":1412.22,"endTime":1415.67,"body":"they even lend money at a"},{"speaker":"Bob Andersen","startTime":1412.22,"endTime":1415.67,"body":"margin. So they do very well out"},{"speaker":"Bob Andersen","startTime":1415.67,"endTime":1418.94,"body":"of fees. And then they make the"},{"speaker":"Bob Andersen","startTime":1415.67,"endTime":1418.94,"body":"rest of the money or a lot of it"},{"speaker":"Bob Andersen","startTime":1418.94,"endTime":1423.47,"body":"anyway, by by lending in a"},{"speaker":"Bob Andersen","startTime":1418.94,"endTime":1423.47,"body":"margin above what, what the,"},{"speaker":"Bob Andersen","startTime":1424.01,"endTime":1426.77,"body":"what they pay for the money, but"},{"speaker":"Bob Andersen","startTime":1424.01,"endTime":1426.77,"body":"so they're not, they're not"},{"speaker":"Bob Andersen","startTime":1426.77,"endTime":1430.1,"body":"really pushed for business so"},{"speaker":"Bob Andersen","startTime":1426.77,"endTime":1430.1,"body":"much. And they can afford to"},{"speaker":"Bob Andersen","startTime":1430.13,"endTime":1434.84,"body":"choose the sort of loans that"},{"speaker":"Bob Andersen","startTime":1430.13,"endTime":1434.84,"body":"they want to lend on. So and"},{"speaker":"Bob Andersen","startTime":1434.84,"endTime":1438.17,"body":"they've sitting in a pretty good"},{"speaker":"Bob Andersen","startTime":1434.84,"endTime":1438.17,"body":"position to do that, though. The"},{"speaker":"Bob Andersen","startTime":1438.17,"endTime":1441.56,"body":"price that they can acquire"},{"speaker":"Bob Andersen","startTime":1438.17,"endTime":1441.56,"body":"capital app is quite cheap,"},{"speaker":"Bob Andersen","startTime":1441.56,"endTime":1445.25,"body":"really, banks, both onshore and"},{"speaker":"Bob Andersen","startTime":1441.56,"endTime":1445.25,"body":"offshore. So they get cheap"},{"speaker":"Bob Andersen","startTime":1445.25,"endTime":1451.01,"body":"money, they can lend it out"},{"speaker":"Bob Andersen","startTime":1445.25,"endTime":1451.01,"body":"cheaper. But and, you know,"},{"speaker":"Bob Andersen","startTime":1451.04,"endTime":1453.5,"body":"there's there's a lot of housing"},{"speaker":"Bob Andersen","startTime":1451.04,"endTime":1453.5,"body":"loans, of course, in the retail"},{"speaker":"Bob Andersen","startTime":1453.5,"endTime":1455.93,"body":"area where they're just lending"},{"speaker":"Bob Andersen","startTime":1453.5,"endTime":1455.93,"body":"on completed products. So the"},{"speaker":"Bob Andersen","startTime":1455.93,"endTime":1458.39,"body":"difference between a property"},{"speaker":"Bob Andersen","startTime":1455.93,"endTime":1458.39,"body":"developers are asking for"},{"speaker":"Bob Andersen","startTime":1458.39,"endTime":1460.97,"body":"financial endless money on"},{"speaker":"Bob Andersen","startTime":1458.39,"endTime":1460.97,"body":"something that doesn't yet exist"},{"speaker":"Bob Andersen","startTime":1460.97,"endTime":1463.91,"body":"them in the land exists. But"},{"speaker":"Bob Andersen","startTime":1460.97,"endTime":1463.91,"body":"we're saying well give us some"},{"speaker":"Bob Andersen","startTime":1463.91,"endTime":1467.36,"body":"more money to build. And so at"},{"speaker":"Bob Andersen","startTime":1463.91,"endTime":1467.36,"body":"the end of it, we have finished"},{"speaker":"Bob Andersen","startTime":1467.36,"endTime":1469.4,"body":"product, but we're not starting"},{"speaker":"Bob Andersen","startTime":1467.36,"endTime":1469.4,"body":"with finished product. So"},{"speaker":"Bob Andersen","startTime":1469.88,"endTime":1473.12,"body":"there's a higher element of risk"},{"speaker":"Bob Andersen","startTime":1469.88,"endTime":1473.12,"body":"for a lender in there. But with"},{"speaker":"Bob Andersen","startTime":1473.39,"endTime":1479.51,"body":"So, banks, and banks, of course,"},{"speaker":"Bob Andersen","startTime":1473.39,"endTime":1479.51,"body":"operate under under APRA. So"},{"speaker":"Bob Andersen","startTime":1479.51,"endTime":1482.6,"body":"there's quite strict rules on"},{"speaker":"Bob Andersen","startTime":1479.51,"endTime":1482.6,"body":"how banks can operate. But, you"},{"speaker":"Bob Andersen","startTime":1482.6,"endTime":1485.21,"body":"know, when you move outside of"},{"speaker":"Bob Andersen","startTime":1482.6,"endTime":1485.21,"body":"the banking sectors, as you will"},{"speaker":"Bob Andersen","startTime":1485.21,"endTime":1488.0,"body":"know, I'm sure you you know, you"},{"speaker":"Bob Andersen","startTime":1485.21,"endTime":1488.0,"body":"operate a lot in that, that non"},{"speaker":"Bob Andersen","startTime":1488.0,"endTime":1491.36,"body":"bank sector, they're not under"},{"speaker":"Bob Andersen","startTime":1488.0,"endTime":1491.36,"body":"the same rules. They're not"},{"speaker":"Bob Andersen","startTime":1491.36,"endTime":1494.99,"body":"under APRA. They operate under"},{"speaker":"Bob Andersen","startTime":1491.36,"endTime":1494.99,"body":"ASIC. So it's a different set of"},{"speaker":"Bob Andersen","startTime":1494.99,"endTime":1498.71,"body":"rules. They pay more for their"},{"speaker":"Bob Andersen","startTime":1494.99,"endTime":1498.71,"body":"money, and therefore they have"},{"speaker":"Bob Andersen","startTime":1498.71,"endTime":1501.38,"body":"to lend it out at a higher rate."},{"speaker":"Bob Andersen","startTime":1498.71,"endTime":1501.38,"body":"They have to make a commercial"},{"speaker":"Bob Andersen","startTime":1501.38,"endTime":1505.97,"body":"margin on, they don't have all"},{"speaker":"Bob Andersen","startTime":1501.38,"endTime":1505.97,"body":"those fees on accounts that"},{"speaker":"Bob Andersen","startTime":1506.0,"endTime":1509.09,"body":"normal banks have. So they have"},{"speaker":"Bob Andersen","startTime":1506.0,"endTime":1509.09,"body":"to be very commercially minded."},{"speaker":"Bob Andersen","startTime":1509.81,"endTime":1514.55,"body":"And they are. And they'll"},{"speaker":"Bob Andersen","startTime":1509.81,"endTime":1514.55,"body":"they've positioned themselves to"},{"speaker":"Bob Andersen","startTime":1514.55,"endTime":1518.54,"body":"lend on deals that the banks"},{"speaker":"Bob Andersen","startTime":1514.55,"endTime":1518.54,"body":"won't necessarily lend on"},{"speaker":"Bob Andersen","startTime":1518.57,"endTime":1522.71,"body":"doesn't mean that they're a bad"},{"speaker":"Bob Andersen","startTime":1518.57,"endTime":1522.71,"body":"deal, you can have a good a good"},{"speaker":"Bob Andersen","startTime":1522.71,"endTime":1526.55,"body":"deal, put up to a bank, but"},{"speaker":"Bob Andersen","startTime":1522.71,"endTime":1526.55,"body":"because of their rigidity, or"},{"speaker":"Bob Andersen","startTime":1526.85,"endTime":1529.31,"body":"even because of a postcode,"},{"speaker":"Bob Andersen","startTime":1526.85,"endTime":1529.31,"body":"they're just not going to lend"},{"speaker":"Bob Andersen","startTime":1529.31,"endTime":1532.46,"body":"to you, but still a good deal."},{"speaker":"Bob Andersen","startTime":1529.31,"endTime":1532.46,"body":"And so the non bank stepped into"},{"speaker":"Bob Andersen","startTime":1532.46,"endTime":1536.96,"body":"that space. And they take a big"},{"speaker":"Bob Andersen","startTime":1532.46,"endTime":1536.96,"body":"part of the market, what I did"},{"speaker":"Bob Andersen","startTime":1536.99,"endTime":1541.64,"body":"hear not long ago that in the"},{"speaker":"Bob Andersen","startTime":1536.99,"endTime":1541.64,"body":"development finance sector, that"},{"speaker":"Bob Andersen","startTime":1542.3,"endTime":1546.8,"body":"the non bank sector, everything"},{"speaker":"Bob Andersen","startTime":1542.3,"endTime":1546.8,"body":"that's not a bank is supplies"},{"speaker":"Bob Andersen","startTime":1546.8,"endTime":1551.99,"body":"about 80% of finance these days,"},{"speaker":"Bob Andersen","startTime":1546.8,"endTime":1551.99,"body":"whereas many years ago, probably"},{"speaker":"Bob Andersen","startTime":1551.99,"endTime":1556.07,"body":"the banks that supplied 80% of"},{"speaker":"Bob Andersen","startTime":1551.99,"endTime":1556.07,"body":"development, finance, thank"},{"speaker":"Bob Andersen","startTime":1556.07,"endTime":1557.87,"body":"goodness for the non banks, I"},{"speaker":"Bob Andersen","startTime":1556.07,"endTime":1557.87,"body":"say,"},{"speaker":"Victor Lagos","startTime":1559.25,"endTime":1562.61,"body":"Yes, and what many"},{"speaker":"Victor Lagos","startTime":1559.25,"endTime":1562.61,"body":"people don't know, when you go"},{"speaker":"Victor Lagos","startTime":1562.61,"endTime":1566.6,"body":"below the, the non banks who"},{"speaker":"Victor Lagos","startTime":1562.61,"endTime":1566.6,"body":"were obviously non banks, you"},{"speaker":"Victor Lagos","startTime":1566.6,"endTime":1570.17,"body":"know, still can be quite large"},{"speaker":"Victor Lagos","startTime":1566.6,"endTime":1570.17,"body":"financial institutions that, you"},{"speaker":"Victor Lagos","startTime":1570.17,"endTime":1573.68,"body":"know, fund managers backing"},{"speaker":"Victor Lagos","startTime":1570.17,"endTime":1573.68,"body":"them. But then you've got"},{"speaker":"Victor Lagos","startTime":1574.28,"endTime":1580.28,"body":"private lenders who don't even"},{"speaker":"Victor Lagos","startTime":1574.28,"endTime":1580.28,"body":"report the acid, and they raise"},{"speaker":"Victor Lagos","startTime":1580.28,"endTime":1585.02,"body":"capital from private investors,"},{"speaker":"Victor Lagos","startTime":1580.28,"endTime":1585.02,"body":"high net worth individuals,"},{"speaker":"Victor Lagos","startTime":1585.05,"endTime":1590.06,"body":"family offices, and they"},{"speaker":"Victor Lagos","startTime":1585.05,"endTime":1590.06,"body":"basically pay them for their,"},{"speaker":"Victor Lagos","startTime":1590.09,"endTime":1593.66,"body":"for their capital, or return on"},{"speaker":"Victor Lagos","startTime":1590.09,"endTime":1593.66,"body":"their investment, with limited"},{"speaker":"Victor Lagos","startTime":1593.66,"endTime":1598.4,"body":"risk, because they obviously are"},{"speaker":"Victor Lagos","startTime":1593.66,"endTime":1598.4,"body":"providing credit contract to"},{"speaker":"Victor Lagos","startTime":1598.52,"endTime":1601.67,"body":"fund a particular project,"},{"speaker":"Victor Lagos","startTime":1598.52,"endTime":1601.67,"body":"potentially, but it's, it's"},{"speaker":"Victor Lagos","startTime":1601.67,"endTime":1605.54,"body":"short term, it's, they're doing"},{"speaker":"Victor Lagos","startTime":1601.67,"endTime":1605.54,"body":"their due diligence on the"},{"speaker":"Victor Lagos","startTime":1605.54,"endTime":1609.86,"body":"borrower on the builder and the"},{"speaker":"Victor Lagos","startTime":1605.54,"endTime":1609.86,"body":"developer, etc. And, and they're"},{"speaker":"Victor Lagos","startTime":1609.86,"endTime":1611.72,"body":"putting a margin. So"},{"speaker":"Victor Lagos","startTime":1609.86,"endTime":1611.72,"body":"essentially, they're not even"},{"speaker":"Victor Lagos","startTime":1611.72,"endTime":1616.31,"body":"lending out their own money to"},{"speaker":"Victor Lagos","startTime":1611.72,"endTime":1616.31,"body":"lending the middlemen. So, but"},{"speaker":"Victor Lagos","startTime":1616.34,"endTime":1619.76,"body":"there's a lot of players in this"},{"speaker":"Victor Lagos","startTime":1616.34,"endTime":1619.76,"body":"space. And, and I have heard"},{"speaker":"Victor Lagos","startTime":1620.12,"endTime":1625.31,"body":"through the grapevine that many"},{"speaker":"Victor Lagos","startTime":1620.12,"endTime":1625.31,"body":"of them are cowboys in that they"},{"speaker":"Victor Lagos","startTime":1625.34,"endTime":1628.28,"body":"will look at a deal"},{"speaker":"Victor Lagos","startTime":1625.34,"endTime":1628.28,"body":"commercially, and they'll know"},{"speaker":"Victor Lagos","startTime":1628.28,"endTime":1631.22,"body":"the risks, and they'll know that"},{"speaker":"Victor Lagos","startTime":1628.28,"endTime":1631.22,"body":"there's an opportunity for them"},{"speaker":"Victor Lagos","startTime":1631.22,"endTime":1635.0,"body":"to take possession of the"},{"speaker":"Victor Lagos","startTime":1631.22,"endTime":1635.0,"body":"property at the end, because"},{"speaker":"Victor Lagos","startTime":1635.0,"endTime":1636.95,"body":"they know there's a chance a"},{"speaker":"Victor Lagos","startTime":1635.0,"endTime":1636.95,"body":"very high chance they're not"},{"speaker":"Victor Lagos","startTime":1636.95,"endTime":1639.92,"body":"going to be able to complete the"},{"speaker":"Victor Lagos","startTime":1636.95,"endTime":1639.92,"body":"project. So then they'll want to"},{"speaker":"Victor Lagos","startTime":1639.92,"endTime":1643.73,"body":"repossess it and take the"},{"speaker":"Victor Lagos","startTime":1639.92,"endTime":1643.73,"body":"profit. So that's why I"},{"speaker":"Victor Lagos","startTime":1643.97,"endTime":1647.66,"body":"typically steer away from a lot"},{"speaker":"Victor Lagos","startTime":1643.97,"endTime":1647.66,"body":"of them, because I know, I don't"},{"speaker":"Victor Lagos","startTime":1647.66,"endTime":1650.33,"body":"know them, they're not"},{"speaker":"Victor Lagos","startTime":1647.66,"endTime":1650.33,"body":"reputable. So it does come down"},{"speaker":"Victor Lagos","startTime":1650.33,"endTime":1653.6,"body":"to who you know, who's got a"},{"speaker":"Victor Lagos","startTime":1650.33,"endTime":1653.6,"body":"proven track record and who's"},{"speaker":"Victor Lagos","startTime":1653.6,"endTime":1657.5,"body":"endorsed by, you know, the"},{"speaker":"Victor Lagos","startTime":1653.6,"endTime":1657.5,"body":"mortgage and finance industry"},{"speaker":"Victor Lagos","startTime":1657.5,"endTime":1661.58,"body":"bodies and, and whatnot. So"},{"speaker":"Victor Lagos","startTime":1657.5,"endTime":1661.58,"body":"what's your experience with, I"},{"speaker":"Victor Lagos","startTime":1661.58,"endTime":1665.78,"body":"guess, sifting through this"},{"speaker":"Victor Lagos","startTime":1661.58,"endTime":1665.78,"body":"array of private lenders out?"},{"speaker":"Bob Andersen","startTime":1665.78,"endTime":1671.06,"body":"Yeah. Well, I"},{"speaker":"Bob Andersen","startTime":1665.78,"endTime":1671.06,"body":"loosely break them up into"},{"speaker":"Bob Andersen","startTime":1671.06,"endTime":1674.36,"body":"banks, which we've talked about,"},{"speaker":"Bob Andersen","startTime":1671.06,"endTime":1674.36,"body":"then what do I call a non bank"},{"speaker":"Bob Andersen","startTime":1674.36,"endTime":1679.91,"body":"is is often institutional to a"},{"speaker":"Bob Andersen","startTime":1674.36,"endTime":1679.91,"body":"degree. And I'm certainly"},{"speaker":"Bob Andersen","startTime":1679.91,"endTime":1684.38,"body":"looking for longevity. They're"},{"speaker":"Bob Andersen","startTime":1679.91,"endTime":1684.38,"body":"not necessarily a play that's"},{"speaker":"Bob Andersen","startTime":1684.38,"endTime":1689.09,"body":"come in recently, but it has"},{"speaker":"Bob Andersen","startTime":1684.38,"endTime":1689.09,"body":"drawn in with because the banks"},{"speaker":"Bob Andersen","startTime":1689.09,"endTime":1691.31,"body":"have been tight for some time"},{"speaker":"Bob Andersen","startTime":1689.09,"endTime":1691.31,"body":"and has drawn in a lot of"},{"speaker":"Bob Andersen","startTime":1691.31,"endTime":1695.06,"body":"players in the non bank sector."},{"speaker":"Bob Andersen","startTime":1691.31,"endTime":1695.06,"body":"I'm looking for people that have"},{"speaker":"Bob Andersen","startTime":1695.06,"endTime":1697.64,"body":"been around that like, just like"},{"speaker":"Bob Andersen","startTime":1695.06,"endTime":1697.64,"body":"you said, they've, they've got a"},{"speaker":"Bob Andersen","startTime":1697.67,"endTime":1701.81,"body":"good track record, they've been"},{"speaker":"Bob Andersen","startTime":1697.67,"endTime":1701.81,"body":"lending for quite a while. Value"},{"speaker":"Bob Andersen","startTime":1701.9,"endTime":1707.0,"body":"valuation firms are happy to"},{"speaker":"Bob Andersen","startTime":1701.9,"endTime":1707.0,"body":"work with them. Yeah, they're"},{"speaker":"Bob Andersen","startTime":1707.0,"endTime":1711.29,"body":"just endorsed by the industry,"},{"speaker":"Bob Andersen","startTime":1707.0,"endTime":1711.29,"body":"and they're fine. Moving into"},{"speaker":"Bob Andersen","startTime":1711.29,"endTime":1714.17,"body":"private equity, like you"},{"speaker":"Bob Andersen","startTime":1711.29,"endTime":1714.17,"body":"discussed that they're not under"},{"speaker":"Bob Andersen","startTime":1714.17,"endTime":1716.75,"body":"APRA. They're not under assets."},{"speaker":"Bob Andersen","startTime":1714.17,"endTime":1716.75,"body":"So they pretty much write their"},{"speaker":"Bob Andersen","startTime":1716.75,"endTime":1720.41,"body":"own rules. You have to be, they"},{"speaker":"Bob Andersen","startTime":1716.75,"endTime":1720.41,"body":"have to be selected. And you're"},{"speaker":"Bob Andersen","startTime":1720.41,"endTime":1726.02,"body":"right, there are there are some"},{"speaker":"Bob Andersen","startTime":1720.41,"endTime":1726.02,"body":"lenders in that space, who are"},{"speaker":"Bob Andersen","startTime":1726.02,"endTime":1732.41,"body":"looking for a reason for"},{"speaker":"Bob Andersen","startTime":1726.02,"endTime":1732.41,"body":"default, you know, and so it's,"},{"speaker":"Bob Andersen","startTime":1733.37,"endTime":1736.19,"body":"there are a few landmines there,"},{"speaker":"Bob Andersen","startTime":1733.37,"endTime":1736.19,"body":"I think, what, what you need to"},{"speaker":"Bob Andersen","startTime":1736.19,"endTime":1740.48,"body":"do. And my recommendation is"},{"speaker":"Bob Andersen","startTime":1736.19,"endTime":1740.48,"body":"anybody starting out in property"},{"speaker":"Bob Andersen","startTime":1740.48,"endTime":1744.44,"body":"development is to get their"},{"speaker":"Bob Andersen","startTime":1740.48,"endTime":1744.44,"body":"finance through a broker. Every"},{"speaker":"Bob Andersen","startTime":1744.44,"endTime":1749.15,"body":"day of the week, somebody who"},{"speaker":"Bob Andersen","startTime":1744.44,"endTime":1749.15,"body":"understands development finance"},{"speaker":"Bob Andersen","startTime":1749.15,"endTime":1751.85,"body":"for a start, and it's quite"},{"speaker":"Bob Andersen","startTime":1749.15,"endTime":1751.85,"body":"different from retail finance."},{"speaker":"Bob Andersen","startTime":1752.69,"endTime":1756.5,"body":"And who knows the different"},{"speaker":"Bob Andersen","startTime":1752.69,"endTime":1756.5,"body":"lenders and they can, if they"},{"speaker":"Bob Andersen","startTime":1756.5,"endTime":1758.66,"body":"don't think that you're"},{"speaker":"Bob Andersen","startTime":1756.5,"endTime":1758.66,"body":"appropriate for banks, and they"},{"speaker":"Bob Andersen","startTime":1758.66,"endTime":1762.11,"body":"know a number of non banks,"},{"speaker":"Bob Andersen","startTime":1758.66,"endTime":1762.11,"body":"reputable ones, who have a good"},{"speaker":"Bob Andersen","startTime":1762.11,"endTime":1767.27,"body":"track record. And that's what I"},{"speaker":"Bob Andersen","startTime":1762.11,"endTime":1767.27,"body":"always say, get your finance"},{"speaker":"Bob Andersen","startTime":1767.45,"endTime":1771.02,"body":"through a broker, particularly"},{"speaker":"Bob Andersen","startTime":1767.45,"endTime":1771.02,"body":"when in the in your early years,"},{"speaker":"Bob Andersen","startTime":1771.02,"endTime":1775.04,"body":"and maybe even in the late"},{"speaker":"Bob Andersen","startTime":1771.02,"endTime":1775.04,"body":"years, for that matter. But, and"},{"speaker":"Bob Andersen","startTime":1775.04,"endTime":1779.87,"body":"they will know the places to go"},{"speaker":"Bob Andersen","startTime":1775.04,"endTime":1779.87,"body":"to but also some of the ones"},{"speaker":"Bob Andersen","startTime":1779.87,"endTime":1785.21,"body":"that have a reputation, not to"},{"speaker":"Bob Andersen","startTime":1779.87,"endTime":1785.21,"body":"go to. I think that's that's"},{"speaker":"Bob Andersen","startTime":1785.24,"endTime":1786.74,"body":"that's all part of having a good"},{"speaker":"Bob Andersen","startTime":1785.24,"endTime":1786.74,"body":"team."},{"speaker":"Victor Lagos","startTime":1787.4,"endTime":1790.31,"body":"Which actually"},{"speaker":"Victor Lagos","startTime":1787.4,"endTime":1790.31,"body":"leads me to my next question. I"},{"speaker":"Victor Lagos","startTime":1790.31,"endTime":1793.37,"body":"always talk about having a"},{"speaker":"Victor Lagos","startTime":1790.31,"endTime":1793.37,"body":"trusted network professionals as"},{"speaker":"Victor Lagos","startTime":1793.37,"endTime":1796.67,"body":"part of your team to help you"},{"speaker":"Victor Lagos","startTime":1793.37,"endTime":1796.67,"body":"achieve your goals. In property"},{"speaker":"Victor Lagos","startTime":1796.67,"endTime":1799.22,"body":"development. This is even more"},{"speaker":"Victor Lagos","startTime":1796.67,"endTime":1799.22,"body":"important because you've got a"},{"speaker":"Victor Lagos","startTime":1799.22,"endTime":1805.28,"body":"much more I guess larger network"},{"speaker":"Victor Lagos","startTime":1799.22,"endTime":1805.28,"body":"that required to execute a deal"},{"speaker":"Victor Lagos","startTime":1805.28,"endTime":1810.08,"body":"from, you know, from concept to"},{"speaker":"Victor Lagos","startTime":1805.28,"endTime":1810.08,"body":"completion and onto sale. So"},{"speaker":"Victor Lagos","startTime":1810.26,"endTime":1815.33,"body":"what I want to ask you is, you"},{"speaker":"Victor Lagos","startTime":1810.26,"endTime":1815.33,"body":"know, what are some of the key"},{"speaker":"Victor Lagos","startTime":1817.04,"endTime":1820.79,"body":"professionals you will need in"},{"speaker":"Victor Lagos","startTime":1817.04,"endTime":1820.79,"body":"your, in your team, when doing a"},{"speaker":"Victor Lagos","startTime":1820.79,"endTime":1823.28,"body":"property development. I know"},{"speaker":"Victor Lagos","startTime":1820.79,"endTime":1823.28,"body":"everyone will need a good"},{"speaker":"Victor Lagos","startTime":1823.28,"endTime":1825.44,"body":"accountant that understands"},{"speaker":"Victor Lagos","startTime":1823.28,"endTime":1825.44,"body":"property development, they'll"},{"speaker":"Victor Lagos","startTime":1825.44,"endTime":1828.59,"body":"need a good lawyer that"},{"speaker":"Victor Lagos","startTime":1825.44,"endTime":1828.59,"body":"understands, you know, the"},{"speaker":"Victor Lagos","startTime":1828.59,"endTime":1831.83,"body":"structure. And if you're doing a"},{"speaker":"Victor Lagos","startTime":1828.59,"endTime":1831.83,"body":"syndicate and involving other"},{"speaker":"Victor Lagos","startTime":1831.83,"endTime":1834.8,"body":"people, there needs to be"},{"speaker":"Victor Lagos","startTime":1831.83,"endTime":1834.8,"body":"certain agreements, and who's"},{"speaker":"Victor Lagos","startTime":1834.8,"endTime":1837.53,"body":"going to manage what, you know,"},{"speaker":"Victor Lagos","startTime":1834.8,"endTime":1837.53,"body":"who's going to distribute the"},{"speaker":"Victor Lagos","startTime":1837.53,"endTime":1840.68,"body":"profit? How is it distributed?"},{"speaker":"Victor Lagos","startTime":1837.53,"endTime":1840.68,"body":"What happens if someone dies,"},{"speaker":"Victor Lagos","startTime":1840.68,"endTime":1844.13,"body":"etc, there's, there's quite a"},{"speaker":"Victor Lagos","startTime":1840.68,"endTime":1844.13,"body":"lot involved in that side. But"},{"speaker":"Victor Lagos","startTime":1844.13,"endTime":1847.64,"body":"then once you start looking at"},{"speaker":"Victor Lagos","startTime":1844.13,"endTime":1847.64,"body":"the property itself, or the land"},{"speaker":"Victor Lagos","startTime":1847.64,"endTime":1850.43,"body":"acquisition, there's a whole"},{"speaker":"Victor Lagos","startTime":1847.64,"endTime":1850.43,"body":"bunch of other professionals"},{"speaker":"Victor Lagos","startTime":1850.43,"endTime":1854.33,"body":"that even like most people would"},{"speaker":"Victor Lagos","startTime":1850.43,"endTime":1854.33,"body":"never even need to deal with on"},{"speaker":"Victor Lagos","startTime":1854.33,"endTime":1857.87,"body":"another, you know, in their"},{"speaker":"Victor Lagos","startTime":1854.33,"endTime":1857.87,"body":"lifetime. So can you give some"},{"speaker":"Victor Lagos","startTime":1857.87,"endTime":1858.32,"body":"listener?"},{"speaker":"Bob Andersen","startTime":1859.46,"endTime":1861.98,"body":"Yeah, so spot on"},{"speaker":"Bob Andersen","startTime":1859.46,"endTime":1861.98,"body":"there, you took the words out of"},{"speaker":"Bob Andersen","startTime":1861.98,"endTime":1864.62,"body":"my mouth, there's, there's three"},{"speaker":"Bob Andersen","startTime":1861.98,"endTime":1864.62,"body":"professionals that I would take"},{"speaker":"Bob Andersen","startTime":1864.62,"endTime":1868.25,"body":"with me all the time. And that's"},{"speaker":"Bob Andersen","startTime":1864.62,"endTime":1868.25,"body":"a good accountant, as you say,"},{"speaker":"Bob Andersen","startTime":1868.28,"endTime":1870.83,"body":"understands tax structures, a"},{"speaker":"Bob Andersen","startTime":1868.28,"endTime":1870.83,"body":"good lawyer, property lawyer,"},{"speaker":"Bob Andersen","startTime":1871.1,"endTime":1874.46,"body":"and a good finance broker to me,"},{"speaker":"Bob Andersen","startTime":1871.1,"endTime":1874.46,"body":"they just would travel around if"},{"speaker":"Bob Andersen","startTime":1874.46,"endTime":1876.92,"body":"you'd like to, to different"},{"speaker":"Bob Andersen","startTime":1874.46,"endTime":1876.92,"body":"projects, but but then you have"},{"speaker":"Bob Andersen","startTime":1876.92,"endTime":1881.66,"body":"the project specific"},{"speaker":"Bob Andersen","startTime":1876.92,"endTime":1881.66,"body":"professionals. And that's,"},{"speaker":"Bob Andersen","startTime":1881.78,"endTime":1884.09,"body":"that's going to depend a lot on"},{"speaker":"Bob Andersen","startTime":1881.78,"endTime":1884.09,"body":"the type of project. So the"},{"speaker":"Bob Andersen","startTime":1884.09,"endTime":1887.24,"body":"simpler the project, the less"},{"speaker":"Bob Andersen","startTime":1884.09,"endTime":1887.24,"body":"professionals that you need. And"},{"speaker":"Bob Andersen","startTime":1888.23,"endTime":1891.2,"body":"to me, the, the smallest"},{"speaker":"Bob Andersen","startTime":1888.23,"endTime":1891.2,"body":"property development that you"},{"speaker":"Bob Andersen","startTime":1891.2,"endTime":1896.06,"body":"could do would be, let's say, a"},{"speaker":"Bob Andersen","startTime":1891.2,"endTime":1896.06,"body":"two lot subdivision, we one mod"},{"speaker":"Bob Andersen","startTime":1896.06,"endTime":1899.96,"body":"into a two into two lots and"},{"speaker":"Bob Andersen","startTime":1896.06,"endTime":1899.96,"body":"pretty simple little team there."},{"speaker":"Bob Andersen","startTime":1900.02,"endTime":1904.19,"body":"I mean, in terms of the actual"},{"speaker":"Bob Andersen","startTime":1900.02,"endTime":1904.19,"body":"rolling out of the development,"},{"speaker":"Bob Andersen","startTime":1904.88,"endTime":1909.17,"body":"a town planner, a civil"},{"speaker":"Bob Andersen","startTime":1904.88,"endTime":1909.17,"body":"engineer, and a surveyor will"},{"speaker":"Bob Andersen","startTime":1909.2,"endTime":1913.1,"body":"handle all of that, they'll help"},{"speaker":"Bob Andersen","startTime":1909.2,"endTime":1913.1,"body":"you get your approvals, they'll"},{"speaker":"Bob Andersen","startTime":1913.1,"endTime":1918.47,"body":"help you also get the thing"},{"speaker":"Bob Andersen","startTime":1913.1,"endTime":1918.47,"body":"built and finished. People both"},{"speaker":"Bob Andersen","startTime":1918.47,"endTime":1921.38,"body":"into that would be perhaps"},{"speaker":"Bob Andersen","startTime":1918.47,"endTime":1921.38,"body":"people like real estate agents"},{"speaker":"Bob Andersen","startTime":1921.38,"endTime":1924.26,"body":"or buyer's agents that can help"},{"speaker":"Bob Andersen","startTime":1921.38,"endTime":1924.26,"body":"you find the deal in the first"},{"speaker":"Bob Andersen","startTime":1924.26,"endTime":1927.89,"body":"place. And also the marketing at"},{"speaker":"Bob Andersen","startTime":1924.26,"endTime":1927.89,"body":"the other end, probably, once"},{"speaker":"Bob Andersen","startTime":1927.89,"endTime":1930.47,"body":"again, it could be a real estate"},{"speaker":"Bob Andersen","startTime":1927.89,"endTime":1930.47,"body":"agent to help yourself so that,"},{"speaker":"Bob Andersen","startTime":1930.65,"endTime":1933.08,"body":"you know, both ends of it. But"},{"speaker":"Bob Andersen","startTime":1930.65,"endTime":1933.08,"body":"in the middle, when you're"},{"speaker":"Bob Andersen","startTime":1933.08,"endTime":1935.33,"body":"actually doing a development, it"},{"speaker":"Bob Andersen","startTime":1933.08,"endTime":1935.33,"body":"could be as simple as two or"},{"speaker":"Bob Andersen","startTime":1935.33,"endTime":1939.32,"body":"three people. But as soon as you"},{"speaker":"Bob Andersen","startTime":1935.33,"endTime":1939.32,"body":"introduce construction to the"},{"speaker":"Bob Andersen","startTime":1939.32,"endTime":1945.62,"body":"equation, it gets more complex."},{"speaker":"Bob Andersen","startTime":1939.32,"endTime":1945.62,"body":"And so to me, the simplest one"},{"speaker":"Bob Andersen","startTime":1945.62,"endTime":1948.59,"body":"would be, perhaps when you do a"},{"speaker":"Bob Andersen","startTime":1945.62,"endTime":1948.59,"body":"two lot subdivision and you"},{"speaker":"Bob Andersen","startTime":1948.59,"endTime":1951.8,"body":"build a house on one or two of"},{"speaker":"Bob Andersen","startTime":1948.59,"endTime":1951.8,"body":"the lots, that's, that's fairly"},{"speaker":"Bob Andersen","startTime":1951.8,"endTime":1956.51,"body":"straightforward. Once now you're"},{"speaker":"Bob Andersen","startTime":1951.8,"endTime":1956.51,"body":"introducing design. So you're"},{"speaker":"Bob Andersen","startTime":1956.51,"endTime":1960.44,"body":"introducing, it could be a"},{"speaker":"Bob Andersen","startTime":1956.51,"endTime":1960.44,"body":"project builder, who can handle"},{"speaker":"Bob Andersen","startTime":1960.5,"endTime":1965.42,"body":"a lot of that the whole design"},{"speaker":"Bob Andersen","startTime":1960.5,"endTime":1965.42,"body":"thing in house, or maybe not on"},{"speaker":"Bob Andersen","startTime":1965.96,"endTime":1969.47,"body":"or duplex, let's say, that's"},{"speaker":"Bob Andersen","startTime":1965.96,"endTime":1969.47,"body":"another simple one, two units"},{"speaker":"Bob Andersen","startTime":1969.47,"endTime":1972.41,"body":"join it, I say a duplex is a is"},{"speaker":"Bob Andersen","startTime":1969.47,"endTime":1972.41,"body":"a big house with a wall at the"},{"speaker":"Bob Andersen","startTime":1972.41,"endTime":1975.86,"body":"middle of it. But once you"},{"speaker":"Bob Andersen","startTime":1972.41,"endTime":1975.86,"body":"introduce construction, so there"},{"speaker":"Bob Andersen","startTime":1975.86,"endTime":1978.29,"body":"might be an architect or"},{"speaker":"Bob Andersen","startTime":1975.86,"endTime":1978.29,"body":"building designer to do the"},{"speaker":"Bob Andersen","startTime":1978.29,"endTime":1982.7,"body":"design will have a town planner"},{"speaker":"Bob Andersen","startTime":1978.29,"endTime":1982.7,"body":"near as well, we have a surveyor"},{"speaker":"Bob Andersen","startTime":1983.54,"endTime":1986.6,"body":"and a landscape architect, and"},{"speaker":"Bob Andersen","startTime":1983.54,"endTime":1986.6,"body":"they might be four, even five"},{"speaker":"Bob Andersen","startTime":1986.6,"endTime":1989.78,"body":"professionals, we used to get"},{"speaker":"Bob Andersen","startTime":1986.6,"endTime":1989.78,"body":"our approval, and then we'll"},{"speaker":"Bob Andersen","startTime":1989.78,"endTime":1992.9,"body":"move on to our building permit"},{"speaker":"Bob Andersen","startTime":1989.78,"endTime":1992.9,"body":"or our construction certificate."},{"speaker":"Bob Andersen","startTime":1993.44,"endTime":1995.9,"body":"Once again, the architects back"},{"speaker":"Bob Andersen","startTime":1993.44,"endTime":1995.9,"body":"with a few more engineers in"},{"speaker":"Bob Andersen","startTime":1995.9,"endTime":2001.42,"body":"there to help and a couple of"},{"speaker":"Bob Andersen","startTime":1995.9,"endTime":2001.42,"body":"other consultants. So, you know,"},{"speaker":"Bob Andersen","startTime":2001.42,"endTime":2004.84,"body":"we might end up on something"},{"speaker":"Bob Andersen","startTime":2001.42,"endTime":2004.84,"body":"like a duplex for our full"},{"speaker":"Bob Andersen","startTime":2004.84,"endTime":2008.44,"body":"approvals. We have five or six"},{"speaker":"Bob Andersen","startTime":2004.84,"endTime":2008.44,"body":"different professional people"},{"speaker":"Bob Andersen","startTime":2009.4,"endTime":2012.79,"body":"along the way. And then we move"},{"speaker":"Bob Andersen","startTime":2009.4,"endTime":2012.79,"body":"into construction. Well, that's,"},{"speaker":"Bob Andersen","startTime":2013.0,"endTime":2015.58,"body":"that's a builder, mostly during"},{"speaker":"Bob Andersen","startTime":2013.0,"endTime":2015.58,"body":"that point, and perhaps a"},{"speaker":"Bob Andersen","startTime":2015.58,"endTime":2017.71,"body":"quantity surveyor on the way"},{"speaker":"Bob Andersen","startTime":2015.58,"endTime":2017.71,"body":"through and then at the other"},{"speaker":"Bob Andersen","startTime":2017.71,"endTime":2021.22,"body":"end, well, we're back to, you"},{"speaker":"Bob Andersen","startTime":2017.71,"endTime":2021.22,"body":"know, lawyers and marketers and"},{"speaker":"Bob Andersen","startTime":2021.28,"endTime":2026.53,"body":"selling stuff. So a good team."},{"speaker":"Bob Andersen","startTime":2021.28,"endTime":2026.53,"body":"Yeah, I'd say a good teams is"},{"speaker":"Bob Andersen","startTime":2026.53,"endTime":2029.77,"body":"the key to success. We've got"},{"speaker":"Bob Andersen","startTime":2026.53,"endTime":2029.77,"body":"our core team of three that I"},{"speaker":"Bob Andersen","startTime":2029.77,"endTime":2034.36,"body":"mentioned, including yourself,"},{"speaker":"Bob Andersen","startTime":2029.77,"endTime":2034.36,"body":"and, and all these other ones"},{"speaker":"Bob Andersen","startTime":2034.36,"endTime":2036.91,"body":"that don't, we may, we may"},{"speaker":"Bob Andersen","startTime":2034.36,"endTime":2036.91,"body":"transport these other"},{"speaker":"Bob Andersen","startTime":2036.91,"endTime":2040.03,"body":"professionals from project to"},{"speaker":"Bob Andersen","startTime":2036.91,"endTime":2040.03,"body":"project but but sometimes if"},{"speaker":"Bob Andersen","startTime":2040.03,"endTime":2043.75,"body":"we're doing a project in a"},{"speaker":"Bob Andersen","startTime":2040.03,"endTime":2043.75,"body":"different location, we might use"},{"speaker":"Bob Andersen","startTime":2043.75,"endTime":2047.68,"body":"a different term planner, a"},{"speaker":"Bob Andersen","startTime":2043.75,"endTime":2047.68,"body":"different architect, or, you"},{"speaker":"Bob Andersen","startTime":2047.68,"endTime":2050.44,"body":"know, a different type of"},{"speaker":"Bob Andersen","startTime":2047.68,"endTime":2050.44,"body":"product. Maybe some somebody a"},{"speaker":"Bob Andersen","startTime":2050.44,"endTime":2053.08,"body":"bit different if we're doing"},{"speaker":"Bob Andersen","startTime":2050.44,"endTime":2053.08,"body":"some specialized development."},{"speaker":"Bob Andersen","startTime":2054.07,"endTime":2057.16,"body":"Like something like the NDR endo"},{"speaker":"Bob Andersen","startTime":2054.07,"endTime":2057.16,"body":"is where we need a specialized"},{"speaker":"Bob Andersen","startTime":2057.16,"endTime":2059.5,"body":"building designer who's very"},{"speaker":"Bob Andersen","startTime":2057.16,"endTime":2059.5,"body":"familiar with very strict"},{"speaker":"Bob Andersen","startTime":2059.5,"endTime":2062.35,"body":"requirements that are required."},{"speaker":"Bob Andersen","startTime":2059.5,"endTime":2062.35,"body":"So we might not always use the"},{"speaker":"Bob Andersen","startTime":2062.35,"endTime":2066.37,"body":"same professionals in every"},{"speaker":"Bob Andersen","startTime":2062.35,"endTime":2066.37,"body":"project. Other than our core of"},{"speaker":"Bob Andersen","startTime":2066.37,"endTime":2066.82,"body":"three."},{"speaker":"Victor Lagos","startTime":2068.949,"endTime":2071.619,"body":"Sounds like"},{"speaker":"Victor Lagos","startTime":2068.949,"endTime":2071.619,"body":"there's a lot of moving pieces"},{"speaker":"Victor Lagos","startTime":2071.859,"endTime":2074.949,"body":"in a development the more when"},{"speaker":"Victor Lagos","startTime":2071.859,"endTime":2074.949,"body":"there's construction involved."},{"speaker":"Victor Lagos","startTime":2074.979,"endTime":2081.249,"body":"It's there's obviously much more"},{"speaker":"Victor Lagos","startTime":2074.979,"endTime":2081.249,"body":"required. If you're getting"},{"speaker":"Victor Lagos","startTime":2081.249,"endTime":2084.189,"body":"private certifiers or if you're"},{"speaker":"Victor Lagos","startTime":2081.249,"endTime":2084.189,"body":"having to go through through"},{"speaker":"Victor Lagos","startTime":2084.189,"endTime":2087.189,"body":"counsel. There's there's"},{"speaker":"Victor Lagos","startTime":2084.189,"endTime":2087.189,"body":"obviously development approvals"},{"speaker":"Victor Lagos","startTime":2087.189,"endTime":2089.919,"body":"and they need to get me to go"},{"speaker":"Victor Lagos","startTime":2087.189,"endTime":2089.919,"body":"through environmental code"},{"speaker":"Victor Lagos","startTime":2089.919,"endTime":2093.669,"body":"sometimes there's quite a quite"},{"speaker":"Victor Lagos","startTime":2089.919,"endTime":2093.669,"body":"a bit that you need to manage."},{"speaker":"Victor Lagos","startTime":2093.879,"endTime":2097.899,"body":"So if you're the developer, you"},{"speaker":"Victor Lagos","startTime":2093.879,"endTime":2097.899,"body":"need to basically project manage"},{"speaker":"Victor Lagos","startTime":2097.899,"endTime":2102.159,"body":"the whole thing or do would you"},{"speaker":"Victor Lagos","startTime":2097.899,"endTime":2102.159,"body":"then hire a A PM, or DM"},{"speaker":"Victor Lagos","startTime":2102.339,"endTime":2105.279,"body":"developed manager or project"},{"speaker":"Victor Lagos","startTime":2102.339,"endTime":2105.279,"body":"manager to kind of do a lot of"},{"speaker":"Victor Lagos","startTime":2105.279,"endTime":2108.879,"body":"that legwork that can navigate a"},{"speaker":"Victor Lagos","startTime":2105.279,"endTime":2108.879,"body":"lot of moving parts at the same"},{"speaker":"Victor Lagos","startTime":2108.879,"endTime":2111.729,"body":"time, and you just pay him a"},{"speaker":"Victor Lagos","startTime":2108.879,"endTime":2111.729,"body":"fee, what would you say is a"},{"speaker":"Victor Lagos","startTime":2111.879,"endTime":2113.949,"body":"better way of doing? Well?"},{"speaker":"Bob Andersen","startTime":2114.549,"endTime":2118.089,"body":"Well, I personally"},{"speaker":"Bob Andersen","startTime":2114.549,"endTime":2118.089,"body":"don't necessarily recommend"},{"speaker":"Bob Andersen","startTime":2118.119,"endTime":2122.349,"body":"getting a project manager in to"},{"speaker":"Bob Andersen","startTime":2118.119,"endTime":2122.349,"body":"run everything, mainly. I mean,"},{"speaker":"Bob Andersen","startTime":2122.349,"endTime":2125.229,"body":"I'm not a control freak. But if"},{"speaker":"Bob Andersen","startTime":2122.349,"endTime":2125.229,"body":"I'm getting somebody to manage"},{"speaker":"Bob Andersen","startTime":2125.229,"endTime":2127.389,"body":"something for me, I want to know"},{"speaker":"Bob Andersen","startTime":2125.229,"endTime":2127.389,"body":"actually how it works in the"},{"speaker":"Bob Andersen","startTime":2127.389,"endTime":2129.729,"body":"first place. Otherwise, I'm not"},{"speaker":"Bob Andersen","startTime":2127.389,"endTime":2129.729,"body":"going to know what they're"},{"speaker":"Bob Andersen","startTime":2129.729,"endTime":2132.339,"body":"doing. And you're not going to"},{"speaker":"Bob Andersen","startTime":2129.729,"endTime":2132.339,"body":"learn by engaging a project"},{"speaker":"Bob Andersen","startTime":2132.339,"endTime":2134.799,"body":"manager because they're not in"},{"speaker":"Bob Andersen","startTime":2132.339,"endTime":2134.799,"body":"the business of having people"},{"speaker":"Bob Andersen","startTime":2134.799,"endTime":2136.539,"body":"hanging around and teach them"},{"speaker":"Bob Andersen","startTime":2134.799,"endTime":2136.539,"body":"they just want to get in and get"},{"speaker":"Bob Andersen","startTime":2136.539,"endTime":2142.929,"body":"paid, get the job done. So that"},{"speaker":"Bob Andersen","startTime":2136.539,"endTime":2142.929,"body":"you can, I'm saying you can't,"},{"speaker":"Bob Andersen","startTime":2143.259,"endTime":2146.319,"body":"you won't learn much doing that."},{"speaker":"Bob Andersen","startTime":2143.259,"endTime":2146.319,"body":"I've always liked the idea of"},{"speaker":"Bob Andersen","startTime":2146.319,"endTime":2148.779,"body":"learning what to do. And then"},{"speaker":"Bob Andersen","startTime":2146.319,"endTime":2148.779,"body":"you know, if you're outsourcing,"},{"speaker":"Bob Andersen","startTime":2149.529,"endTime":2152.289,"body":"then to at least know what"},{"speaker":"Bob Andersen","startTime":2149.529,"endTime":2152.289,"body":"you're doing. So at least do one"},{"speaker":"Bob Andersen","startTime":2152.289,"endTime":2155.139,"body":"or two developments before you'd"},{"speaker":"Bob Andersen","startTime":2152.289,"endTime":2155.139,"body":"look at outsourcing somebody"},{"speaker":"Bob Andersen","startTime":2155.139,"endTime":2156.549,"body":"need to do everything,"},{"speaker":"Bob Andersen","startTime":2155.139,"endTime":2156.549,"body":"otherwise, you're not really"},{"speaker":"Bob Andersen","startTime":2156.549,"endTime":2159.819,"body":"going to know what they're"},{"speaker":"Bob Andersen","startTime":2156.549,"endTime":2159.819,"body":"doing. Or if you if they"},{"speaker":"Bob Andersen","startTime":2159.819,"endTime":2163.329,"body":"suddenly go fall under concrete"},{"speaker":"Bob Andersen","startTime":2159.819,"endTime":2163.329,"body":"truck or something, they'll be"},{"speaker":"Bob Andersen","startTime":2163.329,"endTime":2170.169,"body":"able to pick it up. But you can,"},{"speaker":"Bob Andersen","startTime":2163.329,"endTime":2170.169,"body":"you can subcontract in a way."},{"speaker":"Bob Andersen","startTime":2171.069,"endTime":2174.519,"body":"And for instance, during your"},{"speaker":"Bob Andersen","startTime":2171.069,"endTime":2174.519,"body":"approval process safer duplex"},{"speaker":"Bob Andersen","startTime":2176.619,"endTime":2181.209,"body":"Sorry, I just have to cut dry"},{"speaker":"Bob Andersen","startTime":2176.619,"endTime":2181.209,"body":"throat might be a."},{"speaker":"Bob Andersen","startTime":2191.2,"endTime":2192.04,"body":"bit dry, sorry,"},{"speaker":"Bob Andersen","startTime":2193.69,"endTime":2197.05,"body":"happened to me to put my water"},{"speaker":"Bob Andersen","startTime":2193.69,"endTime":2197.05,"body":"and have a drink"},{"speaker":"Bob Andersen","startTime":2205.9,"endTime":2211.36,"body":"just go back to that. During the"},{"speaker":"Bob Andersen","startTime":2205.9,"endTime":2211.36,"body":"approval process, you can"},{"speaker":"Bob Andersen","startTime":2211.36,"endTime":2215.44,"body":"actually subcontract a bit. So"},{"speaker":"Bob Andersen","startTime":2211.36,"endTime":2215.44,"body":"what I mean by that is the the"},{"speaker":"Bob Andersen","startTime":2215.44,"endTime":2219.01,"body":"lead consultant with sign or"},{"speaker":"Bob Andersen","startTime":2215.44,"endTime":2219.01,"body":"duplex it to me is the"},{"speaker":"Bob Andersen","startTime":2219.04,"endTime":2221.71,"body":"architect. Some people might say"},{"speaker":"Bob Andersen","startTime":2219.04,"endTime":2221.71,"body":"that's a template, but I'll go"},{"speaker":"Bob Andersen","startTime":2221.71,"endTime":2225.31,"body":"with the architect and an"},{"speaker":"Bob Andersen","startTime":2221.71,"endTime":2225.31,"body":"architect can coordinate that"},{"speaker":"Bob Andersen","startTime":2225.31,"endTime":2229.0,"body":"process, they can work with the"},{"speaker":"Bob Andersen","startTime":2225.31,"endTime":2229.0,"body":"town planner, with the surveyor"},{"speaker":"Bob Andersen","startTime":2229.51,"endTime":2233.14,"body":"and with the landscape architect"},{"speaker":"Bob Andersen","startTime":2229.51,"endTime":2233.14,"body":"to help get that approval. And"},{"speaker":"Bob Andersen","startTime":2233.17,"endTime":2235.27,"body":"at the next stage, the building"},{"speaker":"Bob Andersen","startTime":2233.17,"endTime":2235.27,"body":"permit or the construction"},{"speaker":"Bob Andersen","startTime":2235.27,"endTime":2238.39,"body":"certificate, once again, they"},{"speaker":"Bob Andersen","startTime":2235.27,"endTime":2238.39,"body":"can work with the different"},{"speaker":"Bob Andersen","startTime":2238.39,"endTime":2242.41,"body":"consultants there. So they're"},{"speaker":"Bob Andersen","startTime":2238.39,"endTime":2242.41,"body":"like a lead consultant. And so"},{"speaker":"Bob Andersen","startTime":2242.47,"endTime":2246.79,"body":"in a way you can work directly"},{"speaker":"Bob Andersen","startTime":2242.47,"endTime":2246.79,"body":"with the architect who can then"},{"speaker":"Bob Andersen","startTime":2247.15,"endTime":2250.75,"body":"move to like, coordinate the"},{"speaker":"Bob Andersen","startTime":2247.15,"endTime":2250.75,"body":"other consultants. So that's one"},{"speaker":"Bob Andersen","startTime":2250.75,"endTime":2253.72,"body":"way of cutting back on your"},{"speaker":"Bob Andersen","startTime":2250.75,"endTime":2253.72,"body":"workload, I'd still like to know"},{"speaker":"Bob Andersen","startTime":2253.72,"endTime":2257.83,"body":"what everybody's doing. And if"},{"speaker":"Bob Andersen","startTime":2253.72,"endTime":2257.83,"body":"you aren't leaving it up to one"},{"speaker":"Bob Andersen","startTime":2257.83,"endTime":2260.11,"body":"person, then you need to be"},{"speaker":"Bob Andersen","startTime":2257.83,"endTime":2260.11,"body":"right on top of the architect,"},{"speaker":"Bob Andersen","startTime":2260.11,"endTime":2264.13,"body":"make sure they don't go to sleep"},{"speaker":"Bob Andersen","startTime":2260.11,"endTime":2264.13,"body":"on the job either. So there is"},{"speaker":"Bob Andersen","startTime":2264.13,"endTime":2268.15,"body":"that ability to cut your"},{"speaker":"Bob Andersen","startTime":2264.13,"endTime":2268.15,"body":"workload back. But to me, the"},{"speaker":"Bob Andersen","startTime":2268.15,"endTime":2271.96,"body":"best way is to learn property"},{"speaker":"Bob Andersen","startTime":2268.15,"endTime":2271.96,"body":"development properly, do a"},{"speaker":"Bob Andersen","startTime":2271.96,"endTime":2274.9,"body":"course get educated, do it"},{"speaker":"Bob Andersen","startTime":2271.96,"endTime":2274.9,"body":"yourself, do a couple of"},{"speaker":"Bob Andersen","startTime":2274.9,"endTime":2278.26,"body":"projects. And then if you want"},{"speaker":"Bob Andersen","startTime":2274.9,"endTime":2278.26,"body":"to start subcontracting, or"},{"speaker":"Bob Andersen","startTime":2278.74,"endTime":2280.57,"body":"particularly if you get a few"},{"speaker":"Bob Andersen","startTime":2278.74,"endTime":2280.57,"body":"projects going and you got a"},{"speaker":"Bob Andersen","startTime":2280.57,"endTime":2282.25,"body":"little bit of experience behind"},{"speaker":"Bob Andersen","startTime":2280.57,"endTime":2282.25,"body":"you, then you can bring in a"},{"speaker":"Bob Andersen","startTime":2282.25,"endTime":2284.5,"body":"project manager because you know"},{"speaker":"Bob Andersen","startTime":2282.25,"endTime":2284.5,"body":"exactly what's going on, you"},{"speaker":"Bob Andersen","startTime":2284.5,"endTime":2287.05,"body":"know what they're doing and be"},{"speaker":"Bob Andersen","startTime":2284.5,"endTime":2287.05,"body":"over top of everything. And"},{"speaker":"Bob Andersen","startTime":2287.05,"endTime":2291.97,"body":"you'll be able to, to actually"},{"speaker":"Bob Andersen","startTime":2287.05,"endTime":2291.97,"body":"not be subservient to them. But"},{"speaker":"Bob Andersen","startTime":2292.03,"endTime":2294.64,"body":"you are the developers, so they"},{"speaker":"Bob Andersen","startTime":2292.03,"endTime":2294.64,"body":"need to work under you. They"},{"speaker":"Bob Andersen","startTime":2294.64,"endTime":2296.89,"body":"need to do the job. They're"},{"speaker":"Bob Andersen","startTime":2294.64,"endTime":2296.89,"body":"professionals, they know what to"},{"speaker":"Bob Andersen","startTime":2296.89,"endTime":2299.47,"body":"do. But you really need to know"},{"speaker":"Bob Andersen","startTime":2296.89,"endTime":2299.47,"body":"what's going on. That's, that's"},{"speaker":"Bob Andersen","startTime":2299.47,"endTime":2302.53,"body":"the way I've always done it and,"},{"speaker":"Bob Andersen","startTime":2299.47,"endTime":2302.53,"body":"and taught it."},{"speaker":"Victor Lagos","startTime":2302.95,"endTime":2305.89,"body":"Yeah. That's why"},{"speaker":"Victor Lagos","startTime":2302.95,"endTime":2305.89,"body":"education is so important,"},{"speaker":"Victor Lagos","startTime":2305.89,"endTime":2309.31,"body":"right? It's to equip you with"},{"speaker":"Victor Lagos","startTime":2305.89,"endTime":2309.31,"body":"the knowledge and information"},{"speaker":"Victor Lagos","startTime":2309.31,"endTime":2312.58,"body":"you need. So that, of course you"},{"speaker":"Victor Lagos","startTime":2309.31,"endTime":2312.58,"body":"want to make informed decisions."},{"speaker":"Victor Lagos","startTime":2312.82,"endTime":2315.82,"body":"But it's so you know, to ask the"},{"speaker":"Victor Lagos","startTime":2312.82,"endTime":2315.82,"body":"right questions to the"},{"speaker":"Victor Lagos","startTime":2315.82,"endTime":2320.05,"body":"professionals that you seek out."},{"speaker":"Victor Lagos","startTime":2315.82,"endTime":2320.05,"body":"So you can guide them. And they"},{"speaker":"Victor Lagos","startTime":2320.05,"endTime":2323.2,"body":"don't like you said they don't"},{"speaker":"Victor Lagos","startTime":2320.05,"endTime":2323.2,"body":"lead you without you realizing"},{"speaker":"Victor Lagos","startTime":2323.2,"endTime":2328.0,"body":"what they're doing, or they take"},{"speaker":"Victor Lagos","startTime":2323.2,"endTime":2328.0,"body":"you for a ride. But I haven't"},{"speaker":"Victor Lagos","startTime":2328.0,"endTime":2331.69,"body":"seen your course, I don't know"},{"speaker":"Victor Lagos","startTime":2328.0,"endTime":2331.69,"body":"too much about it. Are you able"},{"speaker":"Victor Lagos","startTime":2331.69,"endTime":2335.29,"body":"to sort of share what's"},{"speaker":"Victor Lagos","startTime":2331.69,"endTime":2335.29,"body":"included? Or is it multiple"},{"speaker":"Victor Lagos","startTime":2335.29,"endTime":2337.33,"body":"courses that you offer and"},{"speaker":"Victor Lagos","startTime":2335.29,"endTime":2337.33,"body":"mentoring programs."},{"speaker":"Bob Andersen","startTime":2338.86,"endTime":2342.43,"body":"I try keep it"},{"speaker":"Bob Andersen","startTime":2338.86,"endTime":2342.43,"body":"fairly simple. We do have a new"},{"speaker":"Bob Andersen","startTime":2342.43,"endTime":2346.33,"body":"website coming out. Probably not"},{"speaker":"Bob Andersen","startTime":2342.43,"endTime":2346.33,"body":"long after the this podcast goes"},{"speaker":"Bob Andersen","startTime":2346.33,"endTime":2349.93,"body":"to in fact, probably within a"},{"speaker":"Bob Andersen","startTime":2346.33,"endTime":2349.93,"body":"fortnight so but the current"},{"speaker":"Bob Andersen","startTime":2349.93,"endTime":2352.21,"body":"ones got good information on it."},{"speaker":"Bob Andersen","startTime":2349.93,"endTime":2352.21,"body":"That's property"},{"speaker":"Bob Andersen","startTime":2352.21,"endTime":2357.46,"body":"mastermind.com.au. The the"},{"speaker":"Bob Andersen","startTime":2352.21,"endTime":2357.46,"body":"course that that most people do"},{"speaker":"Bob Andersen","startTime":2357.46,"endTime":2362.92,"body":"is is a bundle of two courses."},{"speaker":"Bob Andersen","startTime":2357.46,"endTime":2362.92,"body":"It's an online course where you"},{"speaker":"Bob Andersen","startTime":2362.92,"endTime":2367.42,"body":"can learn at your own pace as"},{"speaker":"Bob Andersen","startTime":2362.92,"endTime":2367.42,"body":"fast or as slow as you like. And"},{"speaker":"Bob Andersen","startTime":2367.45,"endTime":2369.31,"body":"it's a full aided set of"},{"speaker":"Bob Andersen","startTime":2367.45,"endTime":2369.31,"body":"property development. So it's"},{"speaker":"Bob Andersen","startTime":2369.31,"endTime":2373.84,"body":"got 40 years of experience built"},{"speaker":"Bob Andersen","startTime":2369.31,"endTime":2373.84,"body":"into that course. It's good. And"},{"speaker":"Bob Andersen","startTime":2373.84,"endTime":2378.1,"body":"also part of that course is a"},{"speaker":"Bob Andersen","startTime":2373.84,"endTime":2378.1,"body":"three day workshop, which we"},{"speaker":"Bob Andersen","startTime":2378.25,"endTime":2381.73,"body":"have one around mid year, which"},{"speaker":"Bob Andersen","startTime":2378.25,"endTime":2381.73,"body":"we which we do on Zoom, and we"},{"speaker":"Bob Andersen","startTime":2381.73,"endTime":2384.31,"body":"have one at the end of the year,"},{"speaker":"Bob Andersen","startTime":2381.73,"endTime":2384.31,"body":"which is a live in person and at"},{"speaker":"Bob Andersen","startTime":2384.31,"endTime":2387.82,"body":"second. It's a great three days."},{"speaker":"Bob Andersen","startTime":2384.31,"endTime":2387.82,"body":"So it's a combination of online"},{"speaker":"Bob Andersen","startTime":2387.82,"endTime":2391.27,"body":"and the workshop. And that's"},{"speaker":"Bob Andersen","startTime":2387.82,"endTime":2391.27,"body":"launched, watch plenty of"},{"speaker":"Bob Andersen","startTime":2391.27,"endTime":2396.34,"body":"developers. And that information"},{"speaker":"Bob Andersen","startTime":2391.27,"endTime":2396.34,"body":"about that is is on the website,"},{"speaker":"Bob Andersen","startTime":2396.46,"endTime":2403.45,"body":"property mastermind.com.au But"},{"speaker":"Bob Andersen","startTime":2396.46,"endTime":2403.45,"body":"yeah Yeah, you just, I can't"},{"speaker":"Bob Andersen","startTime":2403.45,"endTime":2407.5,"body":"emphasize as much, you know,"},{"speaker":"Bob Andersen","startTime":2403.45,"endTime":2407.5,"body":"hard enough that you really do"},{"speaker":"Bob Andersen","startTime":2407.5,"endTime":2410.53,"body":"need to get educated, obviously,"},{"speaker":"Bob Andersen","startTime":2407.5,"endTime":2410.53,"body":"I'm gonna push my own education"},{"speaker":"Bob Andersen","startTime":2410.53,"endTime":2415.0,"body":"course, but get educated no"},{"speaker":"Bob Andersen","startTime":2410.53,"endTime":2415.0,"body":"matter no matter who you go to,"},{"speaker":"Bob Andersen","startTime":2415.51,"endTime":2418.15,"body":"don't just launch into property"},{"speaker":"Bob Andersen","startTime":2415.51,"endTime":2418.15,"body":"development, because there's so"},{"speaker":"Bob Andersen","startTime":2418.15,"endTime":2422.59,"body":"many little twists and turns. Or"},{"speaker":"Bob Andersen","startTime":2418.15,"endTime":2422.59,"body":"alternatively, we do have a"},{"speaker":"Bob Andersen","startTime":2422.59,"endTime":2426.22,"body":"mentoring program. And it's, it"},{"speaker":"Bob Andersen","startTime":2422.59,"endTime":2426.22,"body":"is limited by numbers. That's"},{"speaker":"Bob Andersen","startTime":2426.22,"endTime":2429.25,"body":"for people who really want their"},{"speaker":"Bob Andersen","startTime":2426.22,"endTime":2429.25,"body":"handheld all the way. So they"},{"speaker":"Bob Andersen","startTime":2429.25,"endTime":2434.17,"body":"work individually with, with"},{"speaker":"Bob Andersen","startTime":2429.25,"endTime":2434.17,"body":"myself and, and to, to my team"},{"speaker":"Bob Andersen","startTime":2434.17,"endTime":2438.43,"body":"members, Hillary as well. And so"},{"speaker":"Bob Andersen","startTime":2434.17,"endTime":2438.43,"body":"we were on a daily basis, one on"},{"speaker":"Bob Andersen","startTime":2438.43,"endTime":2441.34,"body":"one with people, that's people"},{"speaker":"Bob Andersen","startTime":2438.43,"endTime":2441.34,"body":"who really want the confidence"},{"speaker":"Bob Andersen","startTime":2441.34,"endTime":2444.16,"body":"of working closely with an"},{"speaker":"Bob Andersen","startTime":2441.34,"endTime":2444.16,"body":"experienced developer, all the"},{"speaker":"Bob Andersen","startTime":2444.16,"endTime":2448.57,"body":"way through to big safety net,"},{"speaker":"Bob Andersen","startTime":2444.16,"endTime":2448.57,"body":"of course, for people and also,"},{"speaker":"Bob Andersen","startTime":2448.9,"endTime":2451.93,"body":"they're going to learn really"},{"speaker":"Bob Andersen","startTime":2448.9,"endTime":2451.93,"body":"fast how to be a full blooded"},{"speaker":"Bob Andersen","startTime":2451.93,"endTime":2455.14,"body":"property developer. And that's"},{"speaker":"Bob Andersen","startTime":2451.93,"endTime":2455.14,"body":"really the two main things that"},{"speaker":"Bob Andersen","startTime":2455.14,"endTime":2458.38,"body":"we that we offer to get people"},{"speaker":"Bob Andersen","startTime":2455.14,"endTime":2458.38,"body":"through safely and get them"},{"speaker":"Bob Andersen","startTime":2458.38,"endTime":2461.05,"body":"making money. brilliant thing"},{"speaker":"Bob Andersen","startTime":2458.38,"endTime":2461.05,"body":"about knowledge, once you've got"},{"speaker":"Bob Andersen","startTime":2461.05,"endTime":2463.72,"body":"it, you don't have to keep"},{"speaker":"Bob Andersen","startTime":2461.05,"endTime":2463.72,"body":"reinvesting in it. So generally,"},{"speaker":"Bob Andersen","startTime":2463.72,"endTime":2467.29,"body":"it's something you acquire once"},{"speaker":"Bob Andersen","startTime":2463.72,"endTime":2467.29,"body":"and and then you know, you're"},{"speaker":"Bob Andersen","startTime":2467.29,"endTime":2467.68,"body":"away."},{"speaker":"Victor Lagos","startTime":2467.8,"endTime":2469.9,"body":"Yeah. And it"},{"speaker":"Victor Lagos","startTime":2467.8,"endTime":2469.9,"body":"becomes applied knowledge rather"},{"speaker":"Victor Lagos","startTime":2469.9,"endTime":2473.5,"body":"than just, you know, absorbing"},{"speaker":"Victor Lagos","startTime":2469.9,"endTime":2473.5,"body":"information you buy mentoring"},{"speaker":"Victor Lagos","startTime":2473.5,"endTime":2475.96,"body":"them, you're actually helping"},{"speaker":"Victor Lagos","startTime":2473.5,"endTime":2475.96,"body":"them along the way giving them"},{"speaker":"Victor Lagos","startTime":2475.96,"endTime":2480.1,"body":"feedback, and stopping them from"},{"speaker":"Victor Lagos","startTime":2475.96,"endTime":2480.1,"body":"sort of jumping in because it's"},{"speaker":"Victor Lagos","startTime":2480.1,"endTime":2483.85,"body":"so easy to, to like, make a"},{"speaker":"Victor Lagos","startTime":2480.1,"endTime":2483.85,"body":"quick decision, thinking it's"},{"speaker":"Victor Lagos","startTime":2483.85,"endTime":2486.04,"body":"the right thing to do commit to"},{"speaker":"Victor Lagos","startTime":2483.85,"endTime":2486.04,"body":"something and then all of a"},{"speaker":"Victor Lagos","startTime":2486.04,"endTime":2488.98,"body":"sudden, it's very hard to"},{"speaker":"Victor Lagos","startTime":2486.04,"endTime":2488.98,"body":"unwind, and you're sort of"},{"speaker":"Victor Lagos","startTime":2488.98,"endTime":2491.68,"body":"stuck, and you're losing money,"},{"speaker":"Victor Lagos","startTime":2488.98,"endTime":2491.68,"body":"and you have to kill the deal,"},{"speaker":"Victor Lagos","startTime":2491.68,"endTime":2494.68,"body":"potentially. So I think it's a"},{"speaker":"Victor Lagos","startTime":2491.68,"endTime":2494.68,"body":"great thing that Yeah,"},{"speaker":"Bob Andersen","startTime":2494.68,"endTime":2498.4,"body":"exactly. Yeah. One"},{"speaker":"Bob Andersen","startTime":2494.68,"endTime":2498.4,"body":"of our mentoring students,"},{"speaker":"Bob Andersen","startTime":2498.4,"endTime":2502.48,"body":"Jamie, Jamie was saying not not"},{"speaker":"Bob Andersen","startTime":2498.4,"endTime":2502.48,"body":"long ago, he's, he's finished"},{"speaker":"Bob Andersen","startTime":2502.48,"endTime":2505.66,"body":"the mentoring program now. But"},{"speaker":"Bob Andersen","startTime":2502.48,"endTime":2505.66,"body":"he joined just as he was about"},{"speaker":"Bob Andersen","startTime":2505.66,"endTime":2510.19,"body":"to go to contract on a site. And"},{"speaker":"Bob Andersen","startTime":2505.66,"endTime":2510.19,"body":"he said that it wasn't a good"},{"speaker":"Bob Andersen","startTime":2510.19,"endTime":2513.01,"body":"one, I had a look at it"},{"speaker":"Bob Andersen","startTime":2510.19,"endTime":2513.01,"body":"straightaway. And he said that"},{"speaker":"Bob Andersen","startTime":2513.01,"endTime":2516.13,"body":"that paid for mentoring program"},{"speaker":"Bob Andersen","startTime":2513.01,"endTime":2516.13,"body":"in the first couple of days, and"},{"speaker":"Bob Andersen","startTime":2516.13,"endTime":2520.15,"body":"I told him to kill the deal. Do"},{"speaker":"Bob Andersen","startTime":2516.13,"endTime":2520.15,"body":"not sign that contract. So as"},{"speaker":"Bob Andersen","startTime":2520.15,"endTime":2522.97,"body":"you just rightly said, it's not"},{"speaker":"Bob Andersen","startTime":2520.15,"endTime":2522.97,"body":"just what you do, it's what you"},{"speaker":"Bob Andersen","startTime":2522.97,"endTime":2524.29,"body":"don't do that matters as well."},{"speaker":"Victor Lagos","startTime":2524.38,"endTime":2528.13,"body":"Yeah, exactly. And"},{"speaker":"Victor Lagos","startTime":2524.38,"endTime":2528.13,"body":"a lot of people will think you"},{"speaker":"Victor Lagos","startTime":2528.13,"endTime":2532.15,"body":"need to have access to some"},{"speaker":"Victor Lagos","startTime":2528.13,"endTime":2532.15,"body":"cash, right to start property"},{"speaker":"Victor Lagos","startTime":2532.15,"endTime":2535.72,"body":"development, you need to have"},{"speaker":"Victor Lagos","startTime":2532.15,"endTime":2535.72,"body":"equity in your properties. You"},{"speaker":"Victor Lagos","startTime":2535.72,"endTime":2538.63,"body":"need to even have property. But"},{"speaker":"Victor Lagos","startTime":2535.72,"endTime":2538.63,"body":"you mentioned that you did it"},{"speaker":"Victor Lagos","startTime":2538.84,"endTime":2543.01,"body":"doing vendor finance, and where"},{"speaker":"Victor Lagos","startTime":2538.84,"endTime":2543.01,"body":"you didn't put any money down."},{"speaker":"Victor Lagos","startTime":2543.55,"endTime":2545.77,"body":"And there's other ways of doing"},{"speaker":"Victor Lagos","startTime":2543.55,"endTime":2545.77,"body":"it. I mentioned that earlier,"},{"speaker":"Victor Lagos","startTime":2545.77,"endTime":2550.75,"body":"which is property syndicates, or"},{"speaker":"Victor Lagos","startTime":2545.77,"endTime":2550.75,"body":"joint ventures, are you able to"},{"speaker":"Victor Lagos","startTime":2550.75,"endTime":2555.16,"body":"sort of give an overview of how"},{"speaker":"Victor Lagos","startTime":2550.75,"endTime":2555.16,"body":"that works? Exactly. And how you"},{"speaker":"Victor Lagos","startTime":2555.19,"endTime":2557.95,"body":"guys can actually help"},{"speaker":"Victor Lagos","startTime":2555.19,"endTime":2557.95,"body":"facilitate that? Because a lot"},{"speaker":"Victor Lagos","startTime":2557.95,"endTime":2561.4,"body":"of people don't know the right"},{"speaker":"Victor Lagos","startTime":2557.95,"endTime":2561.4,"body":"people or know what questions to"},{"speaker":"Victor Lagos","startTime":2561.4,"endTime":2566.08,"body":"ask to get them involved in"},{"speaker":"Victor Lagos","startTime":2561.4,"endTime":2566.08,"body":"putting money together to for a"},{"speaker":"Victor Lagos","startTime":2566.08,"endTime":2567.22,"body":"site and for a development."},{"speaker":"Bob Andersen","startTime":2569.53,"endTime":2572.02,"body":"Yeah, quite true."},{"speaker":"Bob Andersen","startTime":2569.53,"endTime":2572.02,"body":"So I call those creative"},{"speaker":"Bob Andersen","startTime":2572.02,"endTime":2576.22,"body":"strategies or creative finance,"},{"speaker":"Bob Andersen","startTime":2572.02,"endTime":2576.22,"body":"I guess. And my first two"},{"speaker":"Bob Andersen","startTime":2576.22,"endTime":2580.18,"body":"projects are exactly that."},{"speaker":"Bob Andersen","startTime":2576.22,"endTime":2580.18,"body":"Different models. But were those"},{"speaker":"Bob Andersen","startTime":2580.24,"endTime":2583.51,"body":"and I've got to admit, I did"},{"speaker":"Bob Andersen","startTime":2580.24,"endTime":2583.51,"body":"stumble through there. But I"},{"speaker":"Bob Andersen","startTime":2583.78,"endTime":2587.08,"body":"managed, I survived my first"},{"speaker":"Bob Andersen","startTime":2583.78,"endTime":2587.08,"body":"couple of projects. Got me off"},{"speaker":"Bob Andersen","startTime":2587.08,"endTime":2592.9,"body":"to a good start. But yeah, so if"},{"speaker":"Bob Andersen","startTime":2587.08,"endTime":2592.9,"body":"if we look at financing a"},{"speaker":"Bob Andersen","startTime":2592.9,"endTime":2595.36,"body":"development, it's quite simple"},{"speaker":"Bob Andersen","startTime":2592.9,"endTime":2595.36,"body":"that you have to put in a"},{"speaker":"Bob Andersen","startTime":2595.36,"endTime":2599.29,"body":"certain amount of equity"},{"speaker":"Bob Andersen","startTime":2595.36,"endTime":2599.29,"body":"upfront, then the financier will"},{"speaker":"Bob Andersen","startTime":2599.29,"endTime":2602.68,"body":"put in the rest as a loan. And"},{"speaker":"Bob Andersen","startTime":2599.29,"endTime":2602.68,"body":"that gives you enough money to"},{"speaker":"Bob Andersen","startTime":2602.68,"endTime":2606.76,"body":"do a development. So that so"},{"speaker":"Bob Andersen","startTime":2602.68,"endTime":2606.76,"body":"called creative strategies are"},{"speaker":"Bob Andersen","startTime":2606.76,"endTime":2610.03,"body":"often around, well, where does"},{"speaker":"Bob Andersen","startTime":2606.76,"endTime":2610.03,"body":"that equity come from that first"},{"speaker":"Bob Andersen","startTime":2610.03,"endTime":2613.57,"body":"chunk of money that we have to"},{"speaker":"Bob Andersen","startTime":2610.03,"endTime":2613.57,"body":"put down before the financier"},{"speaker":"Bob Andersen","startTime":2613.57,"endTime":2617.92,"body":"tips in their money? And the"},{"speaker":"Bob Andersen","startTime":2613.57,"endTime":2617.92,"body":"obvious answer is, well, if we"},{"speaker":"Bob Andersen","startTime":2617.92,"endTime":2620.47,"body":"don't have it, it's got to come"},{"speaker":"Bob Andersen","startTime":2617.92,"endTime":2620.47,"body":"from somewhere. So we're is"},{"speaker":"Bob Andersen","startTime":2620.47,"endTime":2624.91,"body":"somewhere somewhere, it could be"},{"speaker":"Bob Andersen","startTime":2620.47,"endTime":2624.91,"body":"another person, it could be an"},{"speaker":"Bob Andersen","startTime":2624.91,"endTime":2628.21,"body":"investor, it could be somebody"},{"speaker":"Bob Andersen","startTime":2624.91,"endTime":2628.21,"body":"who has that money, that amount"},{"speaker":"Bob Andersen","startTime":2628.21,"endTime":2632.05,"body":"of money, that equity, but they"},{"speaker":"Bob Andersen","startTime":2628.21,"endTime":2632.05,"body":"don't know how to do a property"},{"speaker":"Bob Andersen","startTime":2632.05,"endTime":2634.12,"body":"development. In fact, they"},{"speaker":"Bob Andersen","startTime":2632.05,"endTime":2634.12,"body":"probably don't even want to know"},{"speaker":"Bob Andersen","startTime":2634.12,"endTime":2637.39,"body":"how to do a property development"},{"speaker":"Bob Andersen","startTime":2634.12,"endTime":2637.39,"body":"necessarily. But they do like"},{"speaker":"Bob Andersen","startTime":2637.39,"endTime":2640.81,"body":"the idea of making good money"},{"speaker":"Bob Andersen","startTime":2637.39,"endTime":2640.81,"body":"out of a property development."},{"speaker":"Bob Andersen","startTime":2640.81,"endTime":2646.6,"body":"So it's, it's an investor so"},{"speaker":"Bob Andersen","startTime":2640.81,"endTime":2646.6,"body":"that that model, in simplicity"},{"speaker":"Bob Andersen","startTime":2646.6,"endTime":2649.93,"body":"is what I call a joint venture,"},{"speaker":"Bob Andersen","startTime":2646.6,"endTime":2649.93,"body":"because it is a venture to make"},{"speaker":"Bob Andersen","startTime":2649.93,"endTime":2652.99,"body":"money, it's jointly in this"},{"speaker":"Bob Andersen","startTime":2649.93,"endTime":2652.99,"body":"case, it's between two people."},{"speaker":"Bob Andersen","startTime":2654.37,"endTime":2658.84,"body":"And so the developer partner, if"},{"speaker":"Bob Andersen","startTime":2654.37,"endTime":2658.84,"body":"you like to develop a person,"},{"speaker":"Bob Andersen","startTime":2658.84,"endTime":2661.33,"body":"well, they would have the"},{"speaker":"Bob Andersen","startTime":2658.84,"endTime":2661.33,"body":"knowledge to do the development."},{"speaker":"Bob Andersen","startTime":2661.45,"endTime":2664.36,"body":"And they would basically do it,"},{"speaker":"Bob Andersen","startTime":2661.45,"endTime":2664.36,"body":"they'd manage it, like find the"},{"speaker":"Bob Andersen","startTime":2664.36,"endTime":2668.98,"body":"site, get the approvals, get it"},{"speaker":"Bob Andersen","startTime":2664.36,"endTime":2668.98,"body":"built, get it sold. The other"},{"speaker":"Bob Andersen","startTime":2669.37,"endTime":2672.37,"body":"person, the investor, well, they"},{"speaker":"Bob Andersen","startTime":2669.37,"endTime":2672.37,"body":"would supply that, that cash"},{"speaker":"Bob Andersen","startTime":2672.37,"endTime":2676.69,"body":"equity upfront, to make sure"},{"speaker":"Bob Andersen","startTime":2672.37,"endTime":2676.69,"body":"that we could get the loan to do"},{"speaker":"Bob Andersen","startTime":2676.69,"endTime":2681.28,"body":"it. And in its simplest form,"},{"speaker":"Bob Andersen","startTime":2676.69,"endTime":2681.28,"body":"that's what it is. And that's"},{"speaker":"Bob Andersen","startTime":2682.12,"endTime":2685.18,"body":"our way of doing it. Now. At the"},{"speaker":"Bob Andersen","startTime":2682.12,"endTime":2685.18,"body":"end, of course, the project"},{"speaker":"Bob Andersen","startTime":2685.18,"endTime":2688.63,"body":"makes a profit. And that profit"},{"speaker":"Bob Andersen","startTime":2685.18,"endTime":2688.63,"body":"could be shared then between"},{"speaker":"Bob Andersen","startTime":2688.63,"endTime":2692.74,"body":"those two people. So the"},{"speaker":"Bob Andersen","startTime":2688.63,"endTime":2692.74,"body":"developer, well, they get a"},{"speaker":"Bob Andersen","startTime":2692.74,"endTime":2696.4,"body":"chunk of the profit let's let's"},{"speaker":"Bob Andersen","startTime":2692.74,"endTime":2696.4,"body":"say it was 50%, which can often"},{"speaker":"Bob Andersen","startTime":2696.4,"endTime":2699.67,"body":"be they get 50% of the profit,"},{"speaker":"Bob Andersen","startTime":2696.4,"endTime":2699.67,"body":"but they never put any money"},{"speaker":"Bob Andersen","startTime":2699.67,"endTime":2704.98,"body":"into it. But they did put in No,"},{"speaker":"Bob Andersen","startTime":2699.67,"endTime":2704.98,"body":"it was time and expertise, time"},{"speaker":"Bob Andersen","startTime":2704.98,"endTime":2707.47,"body":"and knowledge if you like that,"},{"speaker":"Bob Andersen","startTime":2704.98,"endTime":2707.47,"body":"and they got a great reward for"},{"speaker":"Bob Andersen","startTime":2707.47,"endTime":2709.6,"body":"that without putting money in"},{"speaker":"Bob Andersen","startTime":2707.47,"endTime":2709.6,"body":"the investors point of view,"},{"speaker":"Bob Andersen","startTime":2709.63,"endTime":2712.9,"body":"well, they put up the money,"},{"speaker":"Bob Andersen","startTime":2709.63,"endTime":2712.9,"body":"they get that money back at the"},{"speaker":"Bob Andersen","startTime":2712.9,"endTime":2716.71,"body":"end plus, let's say 50% of the"},{"speaker":"Bob Andersen","startTime":2712.9,"endTime":2716.71,"body":"profits. But they didn't have to"},{"speaker":"Bob Andersen","startTime":2716.71,"endTime":2718.87,"body":"do the work. And they didn't"},{"speaker":"Bob Andersen","startTime":2716.71,"endTime":2718.87,"body":"have to have the knowledge,"},{"speaker":"Bob Andersen","startTime":2718.87,"endTime":2722.86,"body":"which in many cases don't. I"},{"speaker":"Bob Andersen","startTime":2718.87,"endTime":2722.86,"body":"mean, that investor could be"},{"speaker":"Bob Andersen","startTime":2722.86,"endTime":2725.02,"body":"your dentist, who knows, it"},{"speaker":"Bob Andersen","startTime":2722.86,"endTime":2725.02,"body":"could be a doctor, it could be a"},{"speaker":"Bob Andersen","startTime":2725.05,"endTime":2727.54,"body":"neighbor, it could be a"},{"speaker":"Bob Andersen","startTime":2725.05,"endTime":2727.54,"body":"relative, it could be anybody."},{"speaker":"Bob Andersen","startTime":2728.14,"endTime":2729.97,"body":"And that gives them the"},{"speaker":"Bob Andersen","startTime":2728.14,"endTime":2729.97,"body":"opportunity to making really"},{"speaker":"Bob Andersen","startTime":2729.97,"endTime":2733.12,"body":"good money getting really good"},{"speaker":"Bob Andersen","startTime":2729.97,"endTime":2733.12,"body":"return on their capital, without"},{"speaker":"Bob Andersen","startTime":2733.12,"endTime":2736.84,"body":"doing the work. And vice versa."},{"speaker":"Bob Andersen","startTime":2733.12,"endTime":2736.84,"body":"It's very mutually beneficial"},{"speaker":"Bob Andersen","startTime":2736.84,"endTime":2741.34,"body":"joint venture. That's, that's a"},{"speaker":"Bob Andersen","startTime":2736.84,"endTime":2741.34,"body":"typical type of creative"},{"speaker":"Bob Andersen","startTime":2741.34,"endTime":2744.01,"body":"strategy. It's not the only one,"},{"speaker":"Bob Andersen","startTime":2741.34,"endTime":2744.01,"body":"but it's a popular one."},{"speaker":"Victor Lagos","startTime":2745.9,"endTime":2749.77,"body":"So my question is,"},{"speaker":"Victor Lagos","startTime":2745.9,"endTime":2749.77,"body":"when you start to do larger"},{"speaker":"Victor Lagos","startTime":2749.77,"endTime":2753.88,"body":"developments, and you need more"},{"speaker":"Victor Lagos","startTime":2749.77,"endTime":2753.88,"body":"capital and more investors, and"},{"speaker":"Victor Lagos","startTime":2753.91,"endTime":2757.66,"body":"so it gets a little bit more"},{"speaker":"Victor Lagos","startTime":2753.91,"endTime":2757.66,"body":"complex in the structure, maybe"},{"speaker":"Victor Lagos","startTime":2757.66,"endTime":2761.65,"body":"a unit trust, you know, you're"},{"speaker":"Victor Lagos","startTime":2757.66,"endTime":2761.65,"body":"not necessarily giving away"},{"speaker":"Victor Lagos","startTime":2761.65,"endTime":2764.98,"body":"profit, but you're paying"},{"speaker":"Victor Lagos","startTime":2761.65,"endTime":2764.98,"body":"interest on loans, because most"},{"speaker":"Victor Lagos","startTime":2764.98,"endTime":2767.95,"body":"of the deals being done, and"},{"speaker":"Victor Lagos","startTime":2764.98,"endTime":2767.95,"body":"it's just needing sort of more"},{"speaker":"Victor Lagos","startTime":2767.95,"endTime":2773.83,"body":"capital injections. Do you have?"},{"speaker":"Victor Lagos","startTime":2767.95,"endTime":2773.83,"body":"Do you have ways to help your"},{"speaker":"Victor Lagos","startTime":2773.83,"endTime":2776.62,"body":"students that go through your"},{"speaker":"Victor Lagos","startTime":2773.83,"endTime":2776.62,"body":"either your mentoring or your"},{"speaker":"Victor Lagos","startTime":2776.62,"endTime":2782.59,"body":"course, to present a information"},{"speaker":"Victor Lagos","startTime":2776.62,"endTime":2782.59,"body":"memorandum, or some sort of"},{"speaker":"Victor Lagos","startTime":2782.65,"endTime":2786.13,"body":"pitch deck to help them raise"},{"speaker":"Victor Lagos","startTime":2782.65,"endTime":2786.13,"body":"the capital? Because you can"},{"speaker":"Victor Lagos","startTime":2786.13,"endTime":2788.77,"body":"imagine a lot of questions for"},{"speaker":"Victor Lagos","startTime":2786.13,"endTime":2788.77,"body":"an investor, especially if it is"},{"speaker":"Victor Lagos","startTime":2788.77,"endTime":2791.8,"body":"your dentist and say, Oh, can"},{"speaker":"Victor Lagos","startTime":2788.77,"endTime":2791.8,"body":"you give me 300 grand for"},{"speaker":"Victor Lagos","startTime":2791.8,"endTime":2794.59,"body":"development? They're gonna want"},{"speaker":"Victor Lagos","startTime":2791.8,"endTime":2794.59,"body":"to understand a lot about the"},{"speaker":"Victor Lagos","startTime":2794.59,"endTime":2796.96,"body":"deal. And what are the risks"},{"speaker":"Victor Lagos","startTime":2794.59,"endTime":2796.96,"body":"involved? What are the potential"},{"speaker":"Victor Lagos","startTime":2797.35,"endTime":2801.94,"body":"uplift and the timeframes return"},{"speaker":"Victor Lagos","startTime":2797.35,"endTime":2801.94,"body":"of their capital, etc? Like, is"},{"speaker":"Victor Lagos","startTime":2801.94,"endTime":2803.2,"body":"that something you guys help"},{"speaker":"Victor Lagos","startTime":2801.94,"endTime":2803.2,"body":"with as well?"},{"speaker":"Bob Andersen","startTime":2805.45,"endTime":2807.97,"body":"Yeah, so So in the"},{"speaker":"Bob Andersen","startTime":2805.45,"endTime":2807.97,"body":"course, that I mentioned"},{"speaker":"Bob Andersen","startTime":2807.97,"endTime":2810.97,"body":"previously, I've got a, I've got"},{"speaker":"Bob Andersen","startTime":2807.97,"endTime":2810.97,"body":"a course within a course you"},{"speaker":"Bob Andersen","startTime":2810.97,"endTime":2814.27,"body":"could say on a range of these"},{"speaker":"Bob Andersen","startTime":2810.97,"endTime":2814.27,"body":"creative strategies, I've chosen"},{"speaker":"Bob Andersen","startTime":2814.27,"endTime":2821.17,"body":"five, five, quite common sort of"},{"speaker":"Bob Andersen","startTime":2814.27,"endTime":2821.17,"body":"ones to do. And that's in the"},{"speaker":"Bob Andersen","startTime":2821.17,"endTime":2826.06,"body":"course as to how they roll out."},{"speaker":"Bob Andersen","startTime":2821.17,"endTime":2826.06,"body":"Within our mentoring program, we"},{"speaker":"Bob Andersen","startTime":2826.06,"endTime":2830.47,"body":"also go into that in an even"},{"speaker":"Bob Andersen","startTime":2826.06,"endTime":2830.47,"body":"deeper level, and we help people"},{"speaker":"Bob Andersen","startTime":2830.47,"endTime":2834.37,"body":"we help, we often help people"},{"speaker":"Bob Andersen","startTime":2830.47,"endTime":2834.37,"body":"find investors in that case, in"},{"speaker":"Bob Andersen","startTime":2834.37,"endTime":2838.18,"body":"our mentoring program. And"},{"speaker":"Bob Andersen","startTime":2834.37,"endTime":2838.18,"body":"investors often like the idea,"},{"speaker":"Bob Andersen","startTime":2838.99,"endTime":2841.12,"body":"if they do invest in a project,"},{"speaker":"Bob Andersen","startTime":2838.99,"endTime":2841.12,"body":"particularly somebody like"},{"speaker":"Bob Andersen","startTime":2841.12,"endTime":2845.86,"body":"myself, who's overviewing it,"},{"speaker":"Bob Andersen","startTime":2841.12,"endTime":2845.86,"body":"who has done 1.3 billion, I've"},{"speaker":"Bob Andersen","startTime":2845.86,"endTime":2849.28,"body":"actually worked out that I've"},{"speaker":"Bob Andersen","startTime":2845.86,"endTime":2849.28,"body":"done over $300 million worth of"},{"speaker":"Bob Andersen","startTime":2849.28,"endTime":2853.66,"body":"projects off a creative manner"},{"speaker":"Bob Andersen","startTime":2849.28,"endTime":2853.66,"body":"where we put the money in a"},{"speaker":"Bob Andersen","startTime":2853.66,"endTime":2859.12,"body":"drawer and various ones, some"},{"speaker":"Bob Andersen","startTime":2853.66,"endTime":2859.12,"body":"with just little mums and dads"},{"speaker":"Bob Andersen","startTime":2859.12,"endTime":2863.65,"body":"investors and a couple of with"},{"speaker":"Bob Andersen","startTime":2859.12,"endTime":2863.65,"body":"ASX listed companies as well,"},{"speaker":"Bob Andersen","startTime":2863.65,"endTime":2867.52,"body":"and even a couple of government"},{"speaker":"Bob Andersen","startTime":2863.65,"endTime":2867.52,"body":"departments. So So you know, you"},{"speaker":"Bob Andersen","startTime":2867.52,"endTime":2871.93,"body":"can graduate up into that. But"},{"speaker":"Bob Andersen","startTime":2867.52,"endTime":2871.93,"body":"yeah, we, I certainly teach"},{"speaker":"Bob Andersen","startTime":2871.93,"endTime":2877.33,"body":"that. I was doing syndicates"},{"speaker":"Bob Andersen","startTime":2871.93,"endTime":2877.33,"body":"back in the late 80s. And, in"},{"speaker":"Bob Andersen","startTime":2877.33,"endTime":2880.06,"body":"fact, even prior to that, as I"},{"speaker":"Bob Andersen","startTime":2877.33,"endTime":2880.06,"body":"mentioned, my first two"},{"speaker":"Bob Andersen","startTime":2880.06,"endTime":2885.07,"body":"projects, the first one was what"},{"speaker":"Bob Andersen","startTime":2880.06,"endTime":2885.07,"body":"we call a vendor finance type"},{"speaker":"Bob Andersen","startTime":2885.07,"endTime":2888.76,"body":"strategy. And the second one I"},{"speaker":"Bob Andersen","startTime":2885.07,"endTime":2888.76,"body":"did was the one I just talked"},{"speaker":"Bob Andersen","startTime":2888.76,"endTime":2891.01,"body":"about a moment ago, it was a"},{"speaker":"Bob Andersen","startTime":2888.76,"endTime":2891.01,"body":"joint venture with an equity"},{"speaker":"Bob Andersen","startTime":2891.01,"endTime":2893.41,"body":"partner where the person that"},{"speaker":"Bob Andersen","startTime":2891.01,"endTime":2893.41,"body":"put the money in was my sister's"},{"speaker":"Bob Andersen","startTime":2893.41,"endTime":2897.58,"body":"boyfriend at the time. And she"},{"speaker":"Bob Andersen","startTime":2893.41,"endTime":2897.58,"body":"had a she had a boyfriend called"},{"speaker":"Bob Andersen","startTime":2897.58,"endTime":2901.54,"body":"Keith, who was an earthmover, he"},{"speaker":"Bob Andersen","startTime":2897.58,"endTime":2901.54,"body":"had a few dollars, and he saw me"},{"speaker":"Bob Andersen","startTime":2901.54,"endTime":2904.9,"body":"make quite a chunk of money out"},{"speaker":"Bob Andersen","startTime":2901.54,"endTime":2904.9,"body":"of my first project when the"},{"speaker":"Bob Andersen","startTime":2904.9,"endTime":2908.17,"body":"vendor finance one. And he said,"},{"speaker":"Bob Andersen","startTime":2904.9,"endTime":2908.17,"body":"My goodness, how'd you do that?"},{"speaker":"Bob Andersen","startTime":2908.86,"endTime":2912.97,"body":"And I said, pretty clever case."},{"speaker":"Bob Andersen","startTime":2908.86,"endTime":2912.97,"body":"I said, which wasn't really"},{"speaker":"Bob Andersen","startTime":2912.97,"endTime":2916.48,"body":"because I did stumble through"},{"speaker":"Bob Andersen","startTime":2912.97,"endTime":2916.48,"body":"it. But and, and got a bit of"},{"speaker":"Bob Andersen","startTime":2916.48,"endTime":2919.81,"body":"help from the from the seller as"},{"speaker":"Bob Andersen","startTime":2916.48,"endTime":2919.81,"body":"well. And I said, Look, I'm"},{"speaker":"Bob Andersen","startTime":2919.81,"endTime":2922.84,"body":"happy to do a deal with you, if"},{"speaker":"Bob Andersen","startTime":2919.81,"endTime":2922.84,"body":"you've got some money and true"},{"speaker":"Bob Andersen","startTime":2922.84,"endTime":2925.75,"body":"to form, Keith put up the money,"},{"speaker":"Bob Andersen","startTime":2922.84,"endTime":2925.75,"body":"the equity. On the second"},{"speaker":"Bob Andersen","startTime":2925.75,"endTime":2927.67,"body":"project, we borrowed the rest of"},{"speaker":"Bob Andersen","startTime":2925.75,"endTime":2927.67,"body":"the money from the financing."},{"speaker":"Bob Andersen","startTime":2927.88,"endTime":2930.85,"body":"And I did a second one. So I've"},{"speaker":"Bob Andersen","startTime":2927.88,"endTime":2930.85,"body":"done my first two projects, two"},{"speaker":"Bob Andersen","startTime":2930.85,"endTime":2934.09,"body":"different strategies without"},{"speaker":"Bob Andersen","startTime":2930.85,"endTime":2934.09,"body":"putting five cents in the deal."},{"speaker":"Bob Andersen","startTime":2934.81,"endTime":2940.96,"body":"That gave me a love of, of that"},{"speaker":"Bob Andersen","startTime":2934.81,"endTime":2940.96,"body":"type of years of structured and"},{"speaker":"Bob Andersen","startTime":2941.44,"endTime":2946.36,"body":"fine tune many different ways of"},{"speaker":"Bob Andersen","startTime":2941.44,"endTime":2946.36,"body":"making money out of out of out"},{"speaker":"Bob Andersen","startTime":2946.36,"endTime":2949.75,"body":"of zero, I suppose zero equity,"},{"speaker":"Bob Andersen","startTime":2946.36,"endTime":2949.75,"body":"you know, and syndicates and"},{"speaker":"Bob Andersen","startTime":2950.2,"endTime":2954.34,"body":"joint ventures with landowners"},{"speaker":"Bob Andersen","startTime":2950.2,"endTime":2954.34,"body":"and using call options, all"},{"speaker":"Bob Andersen","startTime":2954.34,"endTime":2958.06,"body":"sorts of things. All we do. Of"},{"speaker":"Bob Andersen","startTime":2954.34,"endTime":2958.06,"body":"course,"},{"speaker":"Victor Lagos","startTime":2958.21,"endTime":2960.28,"body":"yeah, we don't"},{"speaker":"Victor Lagos","startTime":2958.21,"endTime":2960.28,"body":"even touch on that right call"},{"speaker":"Victor Lagos","startTime":2960.28,"endTime":2963.31,"body":"options and options trading. So"},{"speaker":"Victor Lagos","startTime":2960.28,"endTime":2963.31,"body":"when you when you basically have"},{"speaker":"Victor Lagos","startTime":2963.31,"endTime":2967.66,"body":"the rights to a property without"},{"speaker":"Victor Lagos","startTime":2963.31,"endTime":2967.66,"body":"owning it. Yeah, look, we can"},{"speaker":"Victor Lagos","startTime":2967.84,"endTime":2970.03,"body":"always do the more detailed"},{"speaker":"Victor Lagos","startTime":2967.84,"endTime":2970.03,"body":"conversation. We can probably"},{"speaker":"Victor Lagos","startTime":2970.03,"endTime":2973.81,"body":"talk for hours about this. But a"},{"speaker":"Victor Lagos","startTime":2970.03,"endTime":2973.81,"body":"couple of more questions before"},{"speaker":"Victor Lagos","startTime":2973.84,"endTime":2979.33,"body":"we wrap it up. With a question"},{"speaker":"Victor Lagos","startTime":2973.84,"endTime":2979.33,"body":"is with the current interest"},{"speaker":"Victor Lagos","startTime":2979.33,"endTime":2982.36,"body":"rate environment that we're in,"},{"speaker":"Victor Lagos","startTime":2979.33,"endTime":2982.36,"body":"there's obviously a higher cost"},{"speaker":"Victor Lagos","startTime":2982.36,"endTime":2985.99,"body":"of living, high cost of"},{"speaker":"Victor Lagos","startTime":2982.36,"endTime":2985.99,"body":"materials for for construction,"},{"speaker":"Victor Lagos","startTime":2986.65,"endTime":2989.26,"body":"global inflation that were going"},{"speaker":"Victor Lagos","startTime":2986.65,"endTime":2989.26,"body":"on. Would you say it's a"},{"speaker":"Victor Lagos","startTime":2989.26,"endTime":2992.11,"body":"challenging time for developers"},{"speaker":"Victor Lagos","startTime":2989.26,"endTime":2992.11,"body":"right now? Or would you say it's"},{"speaker":"Victor Lagos","startTime":2992.11,"endTime":2993.85,"body":"a good time to find"},{"speaker":"Victor Lagos","startTime":2992.11,"endTime":2993.85,"body":"opportunities?"},{"speaker":"Bob Andersen","startTime":2996.31,"endTime":2998.2,"body":"Well, we have gone"},{"speaker":"Bob Andersen","startTime":2996.31,"endTime":2998.2,"body":"through quite a challenging"},{"speaker":"Bob Andersen","startTime":2998.2,"endTime":3004.05,"body":"time. Now Coming out of the out"},{"speaker":"Bob Andersen","startTime":2998.2,"endTime":3004.05,"body":"of the pandemic, talk a little"},{"speaker":"Bob Andersen","startTime":3004.05,"endTime":3006.66,"body":"while ago now almost forgotten"},{"speaker":"Bob Andersen","startTime":3004.05,"endTime":3006.66,"body":"about that's funny here, here we"},{"speaker":"Bob Andersen","startTime":3006.66,"endTime":3009.27,"body":"get on with their life, isn't it"},{"speaker":"Bob Andersen","startTime":3006.66,"endTime":3009.27,"body":"now sort of don't think about"},{"speaker":"Bob Andersen","startTime":3009.27,"endTime":3014.22,"body":"that too much. But that created"},{"speaker":"Bob Andersen","startTime":3009.27,"endTime":3014.22,"body":"some some issues. Of course, it"},{"speaker":"Bob Andersen","startTime":3015.63,"endTime":3017.94,"body":"was it was more of a"},{"speaker":"Bob Andersen","startTime":3015.63,"endTime":3017.94,"body":"reconstruction after that, that"},{"speaker":"Bob Andersen","startTime":3017.94,"endTime":3020.79,"body":"created a lot of a lot of growth"},{"speaker":"Bob Andersen","startTime":3017.94,"endTime":3020.79,"body":"in the market, it created a lot"},{"speaker":"Bob Andersen","startTime":3020.79,"endTime":3025.68,"body":"of increased costs of"},{"speaker":"Bob Andersen","startTime":3020.79,"endTime":3025.68,"body":"construction. And so we've been"},{"speaker":"Bob Andersen","startTime":3025.68,"endTime":3028.62,"body":"through the worst of that we've"},{"speaker":"Bob Andersen","startTime":3025.68,"endTime":3028.62,"body":"had some very rapid rises, then,"},{"speaker":"Bob Andersen","startTime":3028.65,"endTime":3033.66,"body":"you know, 2122, and even a bit"},{"speaker":"Bob Andersen","startTime":3028.65,"endTime":3033.66,"body":"into 23. of large increases in"},{"speaker":"Bob Andersen","startTime":3033.66,"endTime":3037.35,"body":"construction prices, shortages"},{"speaker":"Bob Andersen","startTime":3033.66,"endTime":3037.35,"body":"of labor, shortages of"},{"speaker":"Bob Andersen","startTime":3037.35,"endTime":3042.03,"body":"materials. A lot of that, it's"},{"speaker":"Bob Andersen","startTime":3037.35,"endTime":3042.03,"body":"not back to what it was, but it"},{"speaker":"Bob Andersen","startTime":3042.03,"endTime":3045.21,"body":"has improved quite a bit, I deal"},{"speaker":"Bob Andersen","startTime":3042.03,"endTime":3045.21,"body":"with a lot of builders, of"},{"speaker":"Bob Andersen","startTime":3045.21,"endTime":3048.66,"body":"course, a lot of quantity"},{"speaker":"Bob Andersen","startTime":3045.21,"endTime":3048.66,"body":"surveyors, certainly, material"},{"speaker":"Bob Andersen","startTime":3048.66,"endTime":3054.84,"body":"suppliers improved a lot. Labor"},{"speaker":"Bob Andersen","startTime":3048.66,"endTime":3054.84,"body":"has improved quite a bit, we did"},{"speaker":"Bob Andersen","startTime":3054.84,"endTime":3059.25,"body":"have those large price"},{"speaker":"Bob Andersen","startTime":3054.84,"endTime":3059.25,"body":"increases. And while values went"},{"speaker":"Bob Andersen","startTime":3059.25,"endTime":3062.07,"body":"up a lot, it was mainly housing"},{"speaker":"Bob Andersen","startTime":3059.25,"endTime":3062.07,"body":"that went up a lot in value"},{"speaker":"Bob Andersen","startTime":3062.1,"endTime":3064.98,"body":"townhouses did to a degree"},{"speaker":"Bob Andersen","startTime":3062.1,"endTime":3064.98,"body":"apartments did to a degree, but"},{"speaker":"Bob Andersen","startTime":3064.98,"endTime":3068.37,"body":"not as much. That's because all"},{"speaker":"Bob Andersen","startTime":3064.98,"endTime":3068.37,"body":"the stimulus from the government"},{"speaker":"Bob Andersen","startTime":3068.37,"endTime":3072.99,"body":"was directed at short term"},{"speaker":"Bob Andersen","startTime":3068.37,"endTime":3072.99,"body":"remedies, which really meant"},{"speaker":"Bob Andersen","startTime":3073.23,"endTime":3076.47,"body":"more quick, quick builds and"},{"speaker":"Bob Andersen","startTime":3073.23,"endTime":3076.47,"body":"housing and that sort of stuff"},{"speaker":"Bob Andersen","startTime":3076.47,"endTime":3079.44,"body":"rather than longer term builds"},{"speaker":"Bob Andersen","startTime":3076.47,"endTime":3079.44,"body":"with townhouse developments and"},{"speaker":"Bob Andersen","startTime":3079.44,"endTime":3083.55,"body":"the like so but that, like"},{"speaker":"Bob Andersen","startTime":3079.44,"endTime":3083.55,"body":"everything, if, if you leave it"},{"speaker":"Bob Andersen","startTime":3083.55,"endTime":3088.08,"body":"alone, it'll find its own level."},{"speaker":"Bob Andersen","startTime":3083.55,"endTime":3088.08,"body":"And so it's going back to that"},{"speaker":"Bob Andersen","startTime":3088.08,"endTime":3093.15,"body":"now. So built, build costs have"},{"speaker":"Bob Andersen","startTime":3088.08,"endTime":3093.15,"body":"stabilized to a fair degree,"},{"speaker":"Bob Andersen","startTime":3093.15,"endTime":3095.52,"body":"they're still going up a little"},{"speaker":"Bob Andersen","startTime":3093.15,"endTime":3095.52,"body":"bit. But if you look at some of"},{"speaker":"Bob Andersen","startTime":3095.52,"endTime":3098.43,"body":"the big quantity surveyor firms,"},{"speaker":"Bob Andersen","startTime":3095.52,"endTime":3098.43,"body":"they're only predicting three"},{"speaker":"Bob Andersen","startTime":3098.43,"endTime":3101.64,"body":"and 4% increases during the next"},{"speaker":"Bob Andersen","startTime":3098.43,"endTime":3101.64,"body":"12 months. So, you know, the"},{"speaker":"Bob Andersen","startTime":3101.64,"endTime":3106.17,"body":"worst is certainly past in terms"},{"speaker":"Bob Andersen","startTime":3101.64,"endTime":3106.17,"body":"of construction pricing. And I"},{"speaker":"Bob Andersen","startTime":3106.17,"endTime":3108.24,"body":"have noticed, even talking to"},{"speaker":"Bob Andersen","startTime":3106.17,"endTime":3108.24,"body":"some of our builders, that some"},{"speaker":"Bob Andersen","startTime":3108.24,"endTime":3110.13,"body":"of the trades have actually come"},{"speaker":"Bob Andersen","startTime":3108.24,"endTime":3110.13,"body":"back a little bit in their"},{"speaker":"Bob Andersen","startTime":3110.13,"endTime":3113.46,"body":"rates. But look, it is what it"},{"speaker":"Bob Andersen","startTime":3110.13,"endTime":3113.46,"body":"is. Interest rates were we've"},{"speaker":"Bob Andersen","startTime":3113.46,"endTime":3116.52,"body":"seen them rise, but you know,"},{"speaker":"Bob Andersen","startTime":3113.46,"endTime":3116.52,"body":"they were never going to stay"},{"speaker":"Bob Andersen","startTime":3116.52,"endTime":3118.68,"body":"where they weren't my goodness,"},{"speaker":"Bob Andersen","startTime":3116.52,"endTime":3118.68,"body":"that's I couldn't believe how"},{"speaker":"Bob Andersen","startTime":3118.68,"endTime":3121.38,"body":"low they got. Never seen"},{"speaker":"Bob Andersen","startTime":3118.68,"endTime":3121.38,"body":"anything like that in 40 years."},{"speaker":"Bob Andersen","startTime":3121.83,"endTime":3125.67,"body":"I should point out my one a"},{"speaker":"Bob Andersen","startTime":3121.83,"endTime":3125.67,"body":"couple of my very early"},{"speaker":"Bob Andersen","startTime":3125.67,"endTime":3129.54,"body":"projects, I paid over 20%"},{"speaker":"Bob Andersen","startTime":3125.67,"endTime":3129.54,"body":"interest back in the early 80s."},{"speaker":"Bob Andersen","startTime":3129.54,"endTime":3132.57,"body":"For money. There was a credit"},{"speaker":"Bob Andersen","startTime":3129.54,"endTime":3132.57,"body":"squeeze on so you know, that"},{"speaker":"Bob Andersen","startTime":3132.57,"endTime":3137.97,"body":"doesn't six or 7% Doesn't"},{"speaker":"Bob Andersen","startTime":3132.57,"endTime":3137.97,"body":"8% 9% 10% on on non banks. Yeah,"},{"speaker":"Bob Andersen","startTime":3137.97,"endTime":3140.79,"body":"that doesn't frighten me at all."},{"speaker":"Bob Andersen","startTime":3137.97,"endTime":3140.79,"body":"I've made good money in higher"},{"speaker":"Bob Andersen","startTime":3140.79,"endTime":3143.91,"body":"interest rate regimes. So it's"},{"speaker":"Bob Andersen","startTime":3140.79,"endTime":3143.91,"body":"just getting back, you know, it"},{"speaker":"Bob Andersen","startTime":3143.91,"endTime":3146.82,"body":"hasn't reached the 30 year"},{"speaker":"Bob Andersen","startTime":3143.91,"endTime":3146.82,"body":"average interest rates, standard"},{"speaker":"Bob Andersen","startTime":3146.82,"endTime":3150.72,"body":"variable rate, it is what it is."},{"speaker":"Bob Andersen","startTime":3146.82,"endTime":3150.72,"body":"We'll get used to it again,"},{"speaker":"Bob Andersen","startTime":3151.17,"endTime":3154.74,"body":"inflation slowly getting under"},{"speaker":"Bob Andersen","startTime":3151.17,"endTime":3154.74,"body":"under control. We've seen it"},{"speaker":"Bob Andersen","startTime":3154.74,"endTime":3158.58,"body":"drop a bit, it'll get back to"},{"speaker":"Bob Andersen","startTime":3154.74,"endTime":3158.58,"body":"that sort of 3% and probably 18"},{"speaker":"Bob Andersen","startTime":3158.58,"endTime":3161.25,"body":"months, in my opinion, interest"},{"speaker":"Bob Andersen","startTime":3158.58,"endTime":3161.25,"body":"rates, I don't think they've got"},{"speaker":"Bob Andersen","startTime":3161.25,"endTime":3163.74,"body":"much more to go. And I think I"},{"speaker":"Bob Andersen","startTime":3161.25,"endTime":3163.74,"body":"think they're leaving a little"},{"speaker":"Bob Andersen","startTime":3163.74,"endTime":3167.67,"body":"bit of a headroom for a pullback"},{"speaker":"Bob Andersen","startTime":3163.74,"endTime":3167.67,"body":"in rates maybe sometime next"},{"speaker":"Bob Andersen","startTime":3167.67,"endTime":3171.54,"body":"year. But we'll see. But I'm"},{"speaker":"Bob Andersen","startTime":3167.67,"endTime":3171.54,"body":"happy enough with with interest"},{"speaker":"Bob Andersen","startTime":3171.54,"endTime":3174.66,"body":"rates, they are what they are."},{"speaker":"Bob Andersen","startTime":3171.54,"endTime":3174.66,"body":"There's a lot of other things"},{"speaker":"Bob Andersen","startTime":3174.66,"endTime":3178.71,"body":"you do in property development"},{"speaker":"Bob Andersen","startTime":3174.66,"endTime":3178.71,"body":"that you can control and make"},{"speaker":"Bob Andersen","startTime":3178.71,"endTime":3181.71,"body":"the price of money is just just"},{"speaker":"Bob Andersen","startTime":3178.71,"endTime":3181.71,"body":"price of doing business. Really."},{"speaker":"Bob Andersen","startTime":3182.4,"endTime":3184.95,"body":"It's all about getting out there"},{"speaker":"Bob Andersen","startTime":3182.4,"endTime":3184.95,"body":"and understanding property"},{"speaker":"Bob Andersen","startTime":3184.95,"endTime":3187.38,"body":"development, looking in the"},{"speaker":"Bob Andersen","startTime":3184.95,"endTime":3187.38,"body":"right places for the right"},{"speaker":"Bob Andersen","startTime":3187.38,"endTime":3193.86,"body":"deals, doing your job Geralyn is"},{"speaker":"Bob Andersen","startTime":3187.38,"endTime":3193.86,"body":"giving correct due diligence."},{"speaker":"Bob Andersen","startTime":3194.25,"endTime":3198.12,"body":"And look, there's still deals to"},{"speaker":"Bob Andersen","startTime":3194.25,"endTime":3198.12,"body":"be found out there. Yeah, we got"},{"speaker":"Bob Andersen","startTime":3198.18,"endTime":3202.62,"body":"we get students we are searching"},{"speaker":"Bob Andersen","startTime":3198.18,"endTime":3202.62,"body":"for sure. And when we're looking"},{"speaker":"Bob Andersen","startTime":3202.62,"endTime":3205.08,"body":"for a good project to do we"},{"speaker":"Bob Andersen","startTime":3202.62,"endTime":3205.08,"body":"throw a lot in the rubbish bin,"},{"speaker":"Bob Andersen","startTime":3205.56,"endTime":3210.09,"body":"you got to be prepared to do"},{"speaker":"Bob Andersen","startTime":3205.56,"endTime":3210.09,"body":"that. And to find the ones that"},{"speaker":"Bob Andersen","startTime":3210.09,"endTime":3213.66,"body":"really work. And when they work,"},{"speaker":"Bob Andersen","startTime":3210.09,"endTime":3213.66,"body":"well, you jump on them. And"},{"speaker":"Bob Andersen","startTime":3213.69,"endTime":3216.54,"body":"that's there are deals out"},{"speaker":"Bob Andersen","startTime":3213.69,"endTime":3216.54,"body":"there. But it's improving."},{"speaker":"Bob Andersen","startTime":3217.05,"endTime":3220.14,"body":"Obviously, it's migration and"},{"speaker":"Bob Andersen","startTime":3217.05,"endTime":3220.14,"body":"went back to zero. And that's"},{"speaker":"Bob Andersen","startTime":3220.14,"endTime":3223.74,"body":"always been a big driver of of"},{"speaker":"Bob Andersen","startTime":3220.14,"endTime":3223.74,"body":"our markets. I've got a housing"},{"speaker":"Bob Andersen","startTime":3223.74,"endTime":3227.82,"body":"market and capital growth. And"},{"speaker":"Bob Andersen","startTime":3223.74,"endTime":3227.82,"body":"so that's, that's on the"},{"speaker":"Bob Andersen","startTime":3227.82,"endTime":3230.7,"body":"increase and look looking for"},{"speaker":"Bob Andersen","startTime":3227.82,"endTime":3230.7,"body":"future the next couple of years"},{"speaker":"Bob Andersen","startTime":3230.73,"endTime":3235.62,"body":"for overseas migration is quite"},{"speaker":"Bob Andersen","startTime":3230.73,"endTime":3235.62,"body":"enormous. And the big winners of"},{"speaker":"Bob Andersen","startTime":3235.62,"endTime":3238.11,"body":"that often Sydney and Melbourne,"},{"speaker":"Bob Andersen","startTime":3235.62,"endTime":3238.11,"body":"but but the other capital cities"},{"speaker":"Bob Andersen","startTime":3238.11,"endTime":3242.76,"body":"as well get get some get a feed"},{"speaker":"Bob Andersen","startTime":3238.11,"endTime":3242.76,"body":"out of that. And so I think it's"},{"speaker":"Bob Andersen","startTime":3242.88,"endTime":3245.28,"body":"much better times ahead as"},{"speaker":"Bob Andersen","startTime":3242.88,"endTime":3245.28,"body":"things settle down. And"},{"speaker":"Bob Andersen","startTime":3246.48,"endTime":3250.05,"body":"nationally, we've still suffered"},{"speaker":"Bob Andersen","startTime":3246.48,"endTime":3250.05,"body":"a housing shortage we have since"},{"speaker":"Bob Andersen","startTime":3250.05,"endTime":3253.65,"body":"1944. And with a lot more"},{"speaker":"Bob Andersen","startTime":3250.05,"endTime":3253.65,"body":"overseas migration coming in,"},{"speaker":"Bob Andersen","startTime":3253.65,"endTime":3257.46,"body":"and they're wealthier people are"},{"speaker":"Bob Andersen","startTime":3253.65,"endTime":3257.46,"body":"overseas migrants, they don't"},{"speaker":"Bob Andersen","startTime":3257.46,"endTime":3259.38,"body":"move into the housing market."},{"speaker":"Bob Andersen","startTime":3257.46,"endTime":3259.38,"body":"They'll move into the rental"},{"speaker":"Bob Andersen","startTime":3259.38,"endTime":3263.58,"body":"market, which is really tight,"},{"speaker":"Bob Andersen","startTime":3259.38,"endTime":3263.58,"body":"but they'll also buy. And so"},{"speaker":"Bob Andersen","startTime":3263.58,"endTime":3267.81,"body":"yeah, I think it's I think it's"},{"speaker":"Bob Andersen","startTime":3263.58,"endTime":3267.81,"body":"good time to hit. But sensibly,"},{"speaker":"Bob Andersen","startTime":3267.87,"endTime":3268.8,"body":"always sensibly."},{"speaker":"Victor Lagos","startTime":3270.21,"endTime":3275.7,"body":"One of the my past"},{"speaker":"Victor Lagos","startTime":3270.21,"endTime":3275.7,"body":"guests is a friend of mine, and"},{"speaker":"Victor Lagos","startTime":3275.7,"endTime":3278.97,"body":"I think she might have done the"},{"speaker":"Victor Lagos","startTime":3275.7,"endTime":3278.97,"body":"course with you, Dr. V on PE."},{"speaker":"Victor Lagos","startTime":3280.08,"endTime":3280.89,"body":"And oh, do"},{"speaker":"Bob Andersen","startTime":3280.89,"endTime":3282.93,"body":"you want Yes. One"},{"speaker":"Bob Andersen","startTime":3280.89,"endTime":3282.93,"body":"of my mentoring students from"},{"speaker":"Bob Andersen","startTime":3282.93,"endTime":3283.62,"body":"the past."},{"speaker":"Victor Lagos","startTime":3283.65,"endTime":3287.28,"body":"Yeah, she's great."},{"speaker":"Victor Lagos","startTime":3283.65,"endTime":3287.28,"body":"And she's just doing some really"},{"speaker":"Victor Lagos","startTime":3287.31,"endTime":3291.0,"body":"good stuff in the affordable"},{"speaker":"Victor Lagos","startTime":3287.31,"endTime":3291.0,"body":"housing space. And I think it's"},{"speaker":"Victor Lagos","startTime":3291.0,"endTime":3294.36,"body":"important when you're looking at"},{"speaker":"Victor Lagos","startTime":3291.0,"endTime":3294.36,"body":"property development and you"},{"speaker":"Victor Lagos","startTime":3294.36,"endTime":3296.97,"body":"know, you're gonna make a lot of"},{"speaker":"Victor Lagos","startTime":3294.36,"endTime":3296.97,"body":"money but it's it's not just"},{"speaker":"Victor Lagos","startTime":3296.97,"endTime":3299.22,"body":"about the money you're you're"},{"speaker":"Victor Lagos","startTime":3296.97,"endTime":3299.22,"body":"making. It's who you're"},{"speaker":"Victor Lagos","startTime":3299.22,"endTime":3301.62,"body":"impacting. From that"},{"speaker":"Victor Lagos","startTime":3299.22,"endTime":3301.62,"body":"development, are you providing"},{"speaker":"Victor Lagos","startTime":3301.62,"endTime":3304.2,"body":"housing to people that really"},{"speaker":"Victor Lagos","startTime":3301.62,"endTime":3304.2,"body":"need it, especially with the"},{"speaker":"Victor Lagos","startTime":3304.59,"endTime":3307.8,"body":"cost of rent going up"},{"speaker":"Victor Lagos","startTime":3304.59,"endTime":3307.8,"body":"everywhere, and more and more"},{"speaker":"Victor Lagos","startTime":3307.8,"endTime":3311.34,"body":"homelessness going on at the"},{"speaker":"Victor Lagos","startTime":3307.8,"endTime":3311.34,"body":"moment. So there are different"},{"speaker":"Victor Lagos","startTime":3311.34,"endTime":3314.34,"body":"things, properties, style of"},{"speaker":"Victor Lagos","startTime":3311.34,"endTime":3314.34,"body":"properties that you can develop,"},{"speaker":"Victor Lagos","startTime":3314.4,"endTime":3317.55,"body":"whether it is, you know,"},{"speaker":"Victor Lagos","startTime":3314.4,"endTime":3317.55,"body":"specialized, like NDIS, to help,"},{"speaker":"Victor Lagos","startTime":3318.63,"endTime":3322.17,"body":"you know, disability support, or"},{"speaker":"Victor Lagos","startTime":3318.63,"endTime":3322.17,"body":"it can be co living"},{"speaker":"Victor Lagos","startTime":3322.29,"endTime":3326.67,"body":"arrangements. So, you know,"},{"speaker":"Victor Lagos","startTime":3322.29,"endTime":3326.67,"body":"multiple, self contained units"},{"speaker":"Victor Lagos","startTime":3326.67,"endTime":3329.19,"body":"within one house, so you're"},{"speaker":"Victor Lagos","startTime":3326.67,"endTime":3329.19,"body":"helping the community and"},{"speaker":"Victor Lagos","startTime":3329.25,"endTime":3333.54,"body":"keeping the cost of rent down,"},{"speaker":"Victor Lagos","startTime":3329.25,"endTime":3333.54,"body":"as well. So, I think I'd"},{"speaker":"Victor Lagos","startTime":3333.54,"endTime":3337.62,"body":"encourage anyone out there to"},{"speaker":"Victor Lagos","startTime":3333.54,"endTime":3337.62,"body":"really start, you know, looking"},{"speaker":"Victor Lagos","startTime":3337.62,"endTime":3340.14,"body":"and learning more and more about"},{"speaker":"Victor Lagos","startTime":3337.62,"endTime":3340.14,"body":"this space, if you're"},{"speaker":"Victor Lagos","startTime":3340.14,"endTime":3345.42,"body":"interested. And I really wanted"},{"speaker":"Victor Lagos","startTime":3340.14,"endTime":3345.42,"body":"to just sort of wrap it up and"},{"speaker":"Victor Lagos","startTime":3345.42,"endTime":3349.47,"body":"just mention that to our"},{"speaker":"Victor Lagos","startTime":3345.42,"endTime":3349.47,"body":"listeners, we want to offer, you"},{"speaker":"Victor Lagos","startTime":3349.47,"endTime":3354.12,"body":"know, a 10% discount on, you"},{"speaker":"Victor Lagos","startTime":3349.47,"endTime":3354.12,"body":"know, on your, on your course,"},{"speaker":"Victor Lagos","startTime":3354.51,"endTime":3357.75,"body":"or your online course. And"},{"speaker":"Victor Lagos","startTime":3354.51,"endTime":3357.75,"body":"you're going to put together a"},{"speaker":"Victor Lagos","startTime":3357.81,"endTime":3362.85,"body":"discount code, which is Victor"},{"speaker":"Victor Lagos","startTime":3357.81,"endTime":3362.85,"body":"10. So 10% Victor 10, when"},{"speaker":"Victor Lagos","startTime":3362.85,"endTime":3368.52,"body":"you're basically on on the new"},{"speaker":"Victor Lagos","startTime":3362.85,"endTime":3368.52,"body":"website, property, what is"},{"speaker":"Victor Lagos","startTime":3368.52,"endTime":3369.42,"body":"what's your website called,"},{"speaker":"Victor Lagos","startTime":3368.52,"endTime":3369.42,"body":"again?"},{"speaker":"Bob Andersen","startTime":3370.35,"endTime":3373.71,"body":"property, property"},{"speaker":"Bob Andersen","startTime":3370.35,"endTime":3373.71,"body":"mastermind.com.au."},{"speaker":"Victor Lagos","startTime":3374.85,"endTime":3377.97,"body":"Property"},{"speaker":"Victor Lagos","startTime":3374.85,"endTime":3377.97,"body":"mastermind.com.au. And when you"},{"speaker":"Victor Lagos","startTime":3378.36,"endTime":3380.88,"body":"select a course, just make sure"},{"speaker":"Victor Lagos","startTime":3378.36,"endTime":3380.88,"body":"you put in that discount code,"},{"speaker":"Victor Lagos","startTime":3380.88,"endTime":3384.21,"body":"I'll put it into the show notes."},{"speaker":"Victor Lagos","startTime":3380.88,"endTime":3384.21,"body":"And and I just wanted to ask one"},{"speaker":"Victor Lagos","startTime":3384.21,"endTime":3387.39,"body":"more question about your"},{"speaker":"Victor Lagos","startTime":3384.21,"endTime":3387.39,"body":"mentoring because Hillary she"},{"speaker":"Victor Lagos","startTime":3387.42,"endTime":3390.72,"body":"she's comes more from a coaching"},{"speaker":"Victor Lagos","startTime":3387.42,"endTime":3390.72,"body":"background and a lot to do with"},{"speaker":"Victor Lagos","startTime":3390.72,"endTime":3393.21,"body":"mindset. She's your business"},{"speaker":"Victor Lagos","startTime":3390.72,"endTime":3393.21,"body":"partner that she helped more on"},{"speaker":"Victor Lagos","startTime":3393.21,"endTime":3394.92,"body":"the on the mentoring side."},{"speaker":"Bob Andersen","startTime":3396.6,"endTime":3398.94,"body":"Yeah, she does as"},{"speaker":"Bob Andersen","startTime":3396.6,"endTime":3398.94,"body":"well, should my business partner"},{"speaker":"Bob Andersen","startTime":3398.94,"endTime":3402.18,"body":"in my life partner, actually, as"},{"speaker":"Bob Andersen","startTime":3398.94,"endTime":3402.18,"body":"it turns out, so I scored, I"},{"speaker":"Bob Andersen","startTime":3402.18,"endTime":3406.62,"body":"scored big T times there. But"},{"speaker":"Bob Andersen","startTime":3402.18,"endTime":3406.62,"body":"yeah, Hillary has a, he has a"},{"speaker":"Bob Andersen","startTime":3406.62,"endTime":3411.75,"body":"long history in in coaching, but"},{"speaker":"Bob Andersen","startTime":3406.62,"endTime":3411.75,"body":"also property, she's involved in"},{"speaker":"Bob Andersen","startTime":3411.81,"endTime":3414.03,"body":"three developments at the moment"},{"speaker":"Bob Andersen","startTime":3411.81,"endTime":3414.03,"body":"still sit down a lot of rent"},{"speaker":"Bob Andersen","startTime":3414.03,"endTime":3417.0,"body":"owes, I think he's done about 23"},{"speaker":"Bob Andersen","startTime":3414.03,"endTime":3417.0,"body":"renovations in a time. So she,"},{"speaker":"Bob Andersen","startTime":3417.3,"endTime":3420.69,"body":"she bought her first property at"},{"speaker":"Bob Andersen","startTime":3417.3,"endTime":3420.69,"body":"80. So she's, she's all into"},{"speaker":"Bob Andersen","startTime":3420.69,"endTime":3424.65,"body":"property, but but coaching and"},{"speaker":"Bob Andersen","startTime":3420.69,"endTime":3424.65,"body":"performance coaching, mindset"},{"speaker":"Bob Andersen","startTime":3424.65,"endTime":3426.81,"body":"coaching as well, she's been"},{"speaker":"Bob Andersen","startTime":3424.65,"endTime":3426.81,"body":"doing that for many, many years."},{"speaker":"Bob Andersen","startTime":3426.81,"endTime":3429.96,"body":"And so that's the other"},{"speaker":"Bob Andersen","startTime":3426.81,"endTime":3429.96,"body":"component, I'm sure you'd agree"},{"speaker":"Bob Andersen","startTime":3429.96,"endTime":3433.65,"body":"that you have to be successful"},{"speaker":"Bob Andersen","startTime":3429.96,"endTime":3433.65,"body":"in any field. It's not just"},{"speaker":"Bob Andersen","startTime":3433.65,"endTime":3435.87,"body":"filling your head with"},{"speaker":"Bob Andersen","startTime":3433.65,"endTime":3435.87,"body":"knowledge, you have to apply it"},{"speaker":"Bob Andersen","startTime":3436.59,"endTime":3441.3,"body":"and reply rigorously, but also"},{"speaker":"Bob Andersen","startTime":3436.59,"endTime":3441.3,"body":"everything else that goes with"},{"speaker":"Bob Andersen","startTime":3441.3,"endTime":3445.05,"body":"it planning, you have to have a"},{"speaker":"Bob Andersen","startTime":3441.3,"endTime":3445.05,"body":"plan, you have to be true to"},{"speaker":"Bob Andersen","startTime":3445.05,"endTime":3447.51,"body":"your plan. And you have to be"},{"speaker":"Bob Andersen","startTime":3445.05,"endTime":3447.51,"body":"accountable to your plan for"},{"speaker":"Bob Andersen","startTime":3447.51,"endTime":3451.8,"body":"that matter. And, and also, you"},{"speaker":"Bob Andersen","startTime":3447.51,"endTime":3451.8,"body":"know, be in the right space,"},{"speaker":"Bob Andersen","startTime":3451.8,"endTime":3455.28,"body":"head wise. And so property"},{"speaker":"Bob Andersen","startTime":3451.8,"endTime":3455.28,"body":"development is not just about"},{"speaker":"Bob Andersen","startTime":3455.82,"endTime":3458.34,"body":"absorbing all the knowledge of"},{"speaker":"Bob Andersen","startTime":3455.82,"endTime":3458.34,"body":"property development. And we"},{"speaker":"Bob Andersen","startTime":3458.34,"endTime":3461.31,"body":"realize that and therefore we"},{"speaker":"Bob Andersen","startTime":3458.34,"endTime":3461.31,"body":"our mentoring program, Hilary"},{"speaker":"Bob Andersen","startTime":3461.31,"endTime":3464.43,"body":"works with with people as well"},{"speaker":"Bob Andersen","startTime":3461.31,"endTime":3464.43,"body":"to help them get organized to"},{"speaker":"Bob Andersen","startTime":3464.76,"endTime":3467.49,"body":"and every everybody's different."},{"speaker":"Bob Andersen","startTime":3464.76,"endTime":3467.49,"body":"Everybody is going at a"},{"speaker":"Bob Andersen","startTime":3467.49,"endTime":3469.62,"body":"different pace. And we're all"},{"speaker":"Bob Andersen","startTime":3467.49,"endTime":3469.62,"body":"going in the same direction in"},{"speaker":"Bob Andersen","startTime":3469.62,"endTime":3471.81,"body":"terms of property development,"},{"speaker":"Bob Andersen","startTime":3469.62,"endTime":3471.81,"body":"but not everybody is the same"},{"speaker":"Bob Andersen","startTime":3472.53,"endTime":3476.7,"body":"different social situations,"},{"speaker":"Bob Andersen","startTime":3472.53,"endTime":3476.7,"body":"financial situations, age work,"},{"speaker":"Bob Andersen","startTime":3476.7,"endTime":3481.41,"body":"everything. And so we sort of"},{"speaker":"Bob Andersen","startTime":3476.7,"endTime":3481.41,"body":"customize a program to suit the"},{"speaker":"Bob Andersen","startTime":3481.41,"endTime":3485.61,"body":"individual and heal is at the"},{"speaker":"Bob Andersen","startTime":3481.41,"endTime":3485.61,"body":"forefront with all of that. And"},{"speaker":"Bob Andersen","startTime":3486.0,"endTime":3490.89,"body":"it's very interesting person in"},{"speaker":"Bob Andersen","startTime":3486.0,"endTime":3490.89,"body":"terms of, you know, supplying"},{"speaker":"Bob Andersen","startTime":3490.89,"endTime":3493.62,"body":"that that missing ingredient,"},{"speaker":"Bob Andersen","startTime":3490.89,"endTime":3493.62,"body":"that six inches of real estate"},{"speaker":"Bob Andersen","startTime":3493.62,"endTime":3496.74,"body":"between your ears, which is"},{"speaker":"Bob Andersen","startTime":3493.62,"endTime":3496.74,"body":"critical to success, you know,"},{"speaker":"Bob Andersen","startTime":3496.74,"endTime":3499.47,"body":"not just the head knowledge of"},{"speaker":"Bob Andersen","startTime":3496.74,"endTime":3499.47,"body":"property development. That's a"},{"speaker":"Bob Andersen","startTime":3499.47,"endTime":3501.09,"body":"good combo. I think"},{"speaker":"Victor Lagos","startTime":3502.11,"endTime":3504.36,"body":"you guys have"},{"speaker":"Victor Lagos","startTime":3502.11,"endTime":3504.36,"body":"figured it out. And it's such an"},{"speaker":"Victor Lagos","startTime":3504.36,"endTime":3508.68,"body":"important piece because my last"},{"speaker":"Victor Lagos","startTime":3504.36,"endTime":3508.68,"body":"guest, his name is Scott"},{"speaker":"Victor Lagos","startTime":3508.68,"endTime":3512.64,"body":"Robinson, he's called the brain"},{"speaker":"Victor Lagos","startTime":3508.68,"endTime":3512.64,"body":"guy, the episode will air"},{"speaker":"Victor Lagos","startTime":3512.64,"endTime":3516.18,"body":"shortly and he really talks"},{"speaker":"Victor Lagos","startTime":3512.64,"endTime":3516.18,"body":"about, you know, your beliefs"},{"speaker":"Victor Lagos","startTime":3516.18,"endTime":3520.26,"body":"and your mindset. And it's so"},{"speaker":"Victor Lagos","startTime":3516.18,"endTime":3520.26,"body":"important because if someone's"},{"speaker":"Victor Lagos","startTime":3520.26,"endTime":3523.92,"body":"come hasn't been born into"},{"speaker":"Victor Lagos","startTime":3520.26,"endTime":3523.92,"body":"wealth, and they're seeking"},{"speaker":"Victor Lagos","startTime":3523.92,"endTime":3528.42,"body":"financial freedom, they've got"},{"speaker":"Victor Lagos","startTime":3523.92,"endTime":3528.42,"body":"some unconscious beliefs and"},{"speaker":"Victor Lagos","startTime":3528.42,"endTime":3532.74,"body":"patterns and paradigms that sort"},{"speaker":"Victor Lagos","startTime":3528.42,"endTime":3532.74,"body":"of keep them where they're at"},{"speaker":"Victor Lagos","startTime":3532.8,"endTime":3536.52,"body":"and keep the ceiling of, of what"},{"speaker":"Victor Lagos","startTime":3532.8,"endTime":3536.52,"body":"they achieved financially at"},{"speaker":"Victor Lagos","startTime":3536.52,"endTime":3540.57,"body":"that same level. So they do"},{"speaker":"Victor Lagos","startTime":3536.52,"endTime":3540.57,"body":"actually need some help to break"},{"speaker":"Victor Lagos","startTime":3540.57,"endTime":3544.98,"body":"through those internal barriers"},{"speaker":"Victor Lagos","startTime":3540.57,"endTime":3544.98,"body":"and reprogram themselves for"},{"speaker":"Victor Lagos","startTime":3544.98,"endTime":3549.84,"body":"success reprogram themselves for"},{"speaker":"Victor Lagos","startTime":3544.98,"endTime":3549.84,"body":"for worthiness, right, because"},{"speaker":"Victor Lagos","startTime":3549.84,"endTime":3552.33,"body":"imagine you had no money your"},{"speaker":"Victor Lagos","startTime":3549.84,"endTime":3552.33,"body":"whole life. And now all of a"},{"speaker":"Victor Lagos","startTime":3552.33,"endTime":3556.77,"body":"sudden you find Bob and Hillary"},{"speaker":"Victor Lagos","startTime":3552.33,"endTime":3556.77,"body":"and they're offering you a"},{"speaker":"Victor Lagos","startTime":3556.77,"endTime":3559.95,"body":"pathway to earn millions"},{"speaker":"Victor Lagos","startTime":3556.77,"endTime":3559.95,"body":"potentially, and you've come"},{"speaker":"Victor Lagos","startTime":3559.95,"endTime":3564.3,"body":"from zero and the minus. It's"},{"speaker":"Victor Lagos","startTime":3559.95,"endTime":3564.3,"body":"such a big shock to kind of"},{"speaker":"Victor Lagos","startTime":3564.3,"endTime":3567.21,"body":"comprehend and, and believe that"},{"speaker":"Victor Lagos","startTime":3564.3,"endTime":3567.21,"body":"you're worthy of earning that"},{"speaker":"Victor Lagos","startTime":3567.21,"endTime":3569.85,"body":"because no one in your family"},{"speaker":"Victor Lagos","startTime":3567.21,"endTime":3569.85,"body":"ever has. You've never had that"},{"speaker":"Victor Lagos","startTime":3569.85,"endTime":3572.97,"body":"you've never had any"},{"speaker":"Victor Lagos","startTime":3569.85,"endTime":3572.97,"body":"opportunities for that. But you"},{"speaker":"Victor Lagos","startTime":3572.97,"endTime":3575.49,"body":"want that right, deep down, you"},{"speaker":"Victor Lagos","startTime":3572.97,"endTime":3575.49,"body":"want financial freedom, you know"},{"speaker":"Victor Lagos","startTime":3575.49,"endTime":3579.36,"body":"that you're capable of doing it."},{"speaker":"Victor Lagos","startTime":3575.49,"endTime":3579.36,"body":"But you want to feel like you,"},{"speaker":"Victor Lagos","startTime":3579.54,"endTime":3582.18,"body":"you believe it, and you deserve"},{"speaker":"Victor Lagos","startTime":3579.54,"endTime":3582.18,"body":"it. So that's why it's so"},{"speaker":"Victor Lagos","startTime":3582.18,"endTime":3585.42,"body":"important to get that mindset,"},{"speaker":"Victor Lagos","startTime":3582.18,"endTime":3585.42,"body":"right. And, you know, I want to"},{"speaker":"Victor Lagos","startTime":3585.42,"endTime":3588.6,"body":"acknowledge you for the work"},{"speaker":"Victor Lagos","startTime":3585.42,"endTime":3588.6,"body":"that you do, the amount of years"},{"speaker":"Victor Lagos","startTime":3588.6,"endTime":3591.57,"body":"you've put into this amount of"},{"speaker":"Victor Lagos","startTime":3588.6,"endTime":3591.57,"body":"people that you've helped. You"},{"speaker":"Victor Lagos","startTime":3591.57,"endTime":3594.66,"body":"and Hillary are doing a great"},{"speaker":"Victor Lagos","startTime":3591.57,"endTime":3594.66,"body":"thing and I'm really glad to"},{"speaker":"Victor Lagos","startTime":3594.72,"endTime":3598.2,"body":"have you on the show today and"},{"speaker":"Victor Lagos","startTime":3594.72,"endTime":3598.2,"body":"to get to know you more and to"},{"speaker":"Victor Lagos","startTime":3598.2,"endTime":3601.86,"body":"be able to offer our listeners"},{"speaker":"Victor Lagos","startTime":3598.2,"endTime":3601.86,"body":"that discount because I think if"},{"speaker":"Victor Lagos","startTime":3601.89,"endTime":3604.98,"body":"if you're listening and this is"},{"speaker":"Victor Lagos","startTime":3601.89,"endTime":3604.98,"body":"something that you deep down"},{"speaker":"Victor Lagos","startTime":3604.98,"endTime":3609.33,"body":"believe you're you're capable of"},{"speaker":"Victor Lagos","startTime":3604.98,"endTime":3609.33,"body":"doing, you know, jump on. And if"},{"speaker":"Victor Lagos","startTime":3609.33,"endTime":3613.05,"body":"you want to connect to Bob and"},{"speaker":"Victor Lagos","startTime":3609.33,"endTime":3613.05,"body":"the team, where else can What"},{"speaker":"Victor Lagos","startTime":3613.05,"endTime":3613.86,"body":"else can they find you?"},{"speaker":"Bob Andersen","startTime":3616.23,"endTime":3617.82,"body":"Well, well"},{"speaker":"Bob Andersen","startTime":3616.23,"endTime":3617.82,"body":"certainly, we're on all the"},{"speaker":"Bob Andersen","startTime":3617.82,"endTime":3620.73,"body":"platforms. Yeah, Facebook,"},{"speaker":"Bob Andersen","startTime":3617.82,"endTime":3620.73,"body":"LinkedIn, Instagram, you name"},{"speaker":"Bob Andersen","startTime":3620.73,"endTime":3624.48,"body":"it, we're there. It is a good"},{"speaker":"Bob Andersen","startTime":3620.73,"endTime":3624.48,"body":"place to start it at the website"},{"speaker":"Bob Andersen","startTime":3624.48,"endTime":3627.96,"body":"can have a look at our products,"},{"speaker":"Bob Andersen","startTime":3624.48,"endTime":3627.96,"body":"but also, contact us send us an"},{"speaker":"Bob Andersen","startTime":3627.96,"endTime":3630.78,"body":"email phone, we got our 1300"},{"speaker":"Bob Andersen","startTime":3627.96,"endTime":3630.78,"body":"number there, we'll, we'll have"},{"speaker":"Bob Andersen","startTime":3630.78,"endTime":3635.64,"body":"a chat about your aspirations"},{"speaker":"Bob Andersen","startTime":3630.78,"endTime":3635.64,"body":"and you know how we might be"},{"speaker":"Bob Andersen","startTime":3635.64,"endTime":3636.87,"body":"able to help with those."},{"speaker":"Victor Lagos","startTime":3638.25,"endTime":3640.32,"body":"I'll probably sign"},{"speaker":"Victor Lagos","startTime":3638.25,"endTime":3640.32,"body":"up for that mentoring course, in"},{"speaker":"Victor Lagos","startTime":3640.32,"endTime":3644.28,"body":"the coming months, I'd say."},{"speaker":"Victor Lagos","startTime":3640.32,"endTime":3644.28,"body":"Awesome. Thanks so much. Well,"},{"speaker":"Victor Lagos","startTime":3646.29,"endTime":3650.76,"body":"thanks, everyone for tuning in."},{"speaker":"Victor Lagos","startTime":3646.29,"endTime":3650.76,"body":"You're welcome. If you enjoyed"},{"speaker":"Victor Lagos","startTime":3650.76,"endTime":3654.42,"body":"that, please follow us on our"},{"speaker":"Victor Lagos","startTime":3650.76,"endTime":3654.42,"body":"socials. Please tune into the"},{"speaker":"Victor Lagos","startTime":3654.42,"endTime":3660.0,"body":"next episode. So you said"},{"speaker":"Victor Lagos","startTime":3654.42,"endTime":3660.0,"body":"everything on this podcast is"},{"speaker":"Victor Lagos","startTime":3660.0,"endTime":3663.9,"body":"general in nature, and for"},{"speaker":"Victor Lagos","startTime":3660.0,"endTime":3663.9,"body":"education purposes only. None of"},{"speaker":"Victor Lagos","startTime":3663.9,"endTime":3667.41,"body":"your personal objectives,"},{"speaker":"Victor Lagos","startTime":3663.9,"endTime":3667.41,"body":"financial situation or needs has"},{"speaker":"Victor Lagos","startTime":3667.41,"endTime":3670.8,"body":"been taken into consideration. I"},{"speaker":"Victor Lagos","startTime":3667.41,"endTime":3670.8,"body":"highly recommend you seek"},{"speaker":"Victor Lagos","startTime":3670.83,"endTime":3675.12,"body":"personal financial, legal"},{"speaker":"Victor Lagos","startTime":3670.83,"endTime":3675.12,"body":"taxation and credit advice"},{"speaker":"Victor Lagos","startTime":3675.27,"endTime":3678.6,"body":"before you take any action on"},{"speaker":"Victor Lagos","startTime":3675.27,"endTime":3678.6,"body":"what has been heard on this"},{"speaker":"Victor Lagos","startTime":3678.6,"endTime":3679.05,"body":"podcast."}]}