Podcast with Jackson Millan, The Wealth Mentor

Podcast Transcript

Jackson Millan:
Welcome to enjoy the journey Podcast, where we interview expert entrepreneurs and thought leaders to help guide you in pursuit of financial freedom presented to you by Jackson Milan wealth mentor and Sam Panetta the money man, where we help service-based business owners, remove cashflow bottlenecks maximize their profits and turn business profits into personal wealth.

Hey guys this is Jackson Malala wealth mentor we're here for another expert masterclass, and I'm very excited today because I've got another new friend from the bx network, Rasti from a Get RARE Properties investors. Now Rasti is a Buyer's Agent, and he's a very successful property investor himself. I wanted to get an opportunity to have him on the podcast so we can talk a little bit about his wealth journey and how he got involved in property how he used his skill set to be able to amass a significant property portfolio, and then how that led into him becoming a property expert and advisor to help clients make the same decisions to help them achieve the same success that he has. So really looking forward to diving into that today with you so Rasti. Thanks for joining us, mate.

Vaibhav “Rasti” Rastogi:
Thank you, Jackson really very much appreciate to be here now things are perfect.

Jackson Millan:
That's great. Yeah, we're in interesting times right. So I'm really interested in having a conversation with you around your wealth journey because I think why this conversation is so important is that there are many people out there at the moment that are sitting on the fence. They don't know what to do when it comes to property should they wait should they buy should they sell. And you and I both know what we should do. So I think it's a good opportunity for us to educate them and help them make better decisions, so let's start at the beginning rusty. Tell us a little bit about your story and how you got started in property.

Vaibhav “Rasti” Rastogi:
Sure. Oh look, I've always been passionate about properties. I'm an architect or qualified architect. And the reason is that, to me it's an ultimate culmination of the education in the humankind as a dumb soft science, when it comes to entering part of the North, in terms of the form and function that we talked about. So I enrolled myself in five this degree course loved it, enjoyed it, the circumstances of my family it changed my career. Still, that love actually continued, and got me interested in properties as an investor. And to me, it's one of the few asset classes that lots of wealthy people have actually used to build their wealth. So it was more of an afterthought or an after, you know, I realized that this is a skill that already have to be an architect, that I can realize the potential of the property in terms of understanding the attributes, because people think that property is brick and mortar. But for me, it's about people and sentiment and all like it's, it's the industry that was, or maybe the person who was living in there, or the industry was trying to find a tenant, you know like, the whole property investing is about sentiment. Nobody knows how to value a property. It's about who is the buyer who will pay that price. So there's much research, there's much science that goes around. Continuing, when I realized that it is something that I can actually leverage in terms of my skill set. I became a financial investor actually, as a portfolio manager, and I learned, like in my last video that I was actually a portfolio manager, I started with researching the market, but primarily more from the equity side of things. So, which stock, should the person be investing in. Now that is a science, by itself, like people do lots of valuation models, whether it is a DCF discounted cash flow or comparable sales the ratios and whatnot. And then at the same time there is much science behind it like mathematical equations, like modelling financial modelling that we call it too, to use that science to figure out what to invest in. Sure. So from my perspective, I use that financial modelling, which we use and trillion-dollar market in investment properties market side of things.

Jackson Millan:
Okay. That's unique Rasti because I think that there are two types of buyers agents or I guess property experts, there's those that understand the fundamentals and use this kind of methodologies to understand real intrinsic value. And then I guess there are more the agents who are more qualitative right. It's all about the people aspect, and it seems to me that you're making a blend of the two.

Vaibhav “Rasti” Rastogi:
100%, you know, because find a perfect company, but does it really mean it's a good investment. Sure, it's one of those lines, any property is not really a good property, unless it makes a good investment as well. So when it comes to investment, it's the component of making money out of it. But when it is coming as buying a property to live in. Then the sentiment part plays a critical role. Not that it's not important, otherwise as well, but it just becomes critical.

Jackson Malala:
So with this kind of CFA experience of being a financial analyst, when did the penny drop that you could use that skill set to research property for yourself.

Vaibhav “Rasti” Rastogi:
Like I've been investing in properties, even before I became a CFA, so it was my passion for making money work harder for you. Coming from very humble beginnings. And my parents actually worked very hard, another law is that they work very hard, but they don't know what to do with the savings. So I realized this is a typical thing like people are so busy in making money in whatever they're doing they're specialists and that like they're good at. But how do they go about parking the money? So, to me, I think it's a book that I read which every, people might have heard about it or might have read it. This that poor dad shocked by it. Yeah. So I said he was a turning point for me to think in terms of okay what is asset what is liability for a household balance sheet job. And from there I realized, okay I am employed and self-employed can be investor or business owner, so I'm very quickly switching from employer. Sorry, employee to an investor. Yeah and property came very naturally to me for a few reasons.

Jackson Millan:
Fantastic right so talk me through the process that you followed as you were building your portfolio to do your due diligence to do this research. How did you approach that recipe?

Vaibhav “Rasti” Rastogi:
I'm actually taking a very scientific way of doing things. And to me, because my previous career I was actually an IT manager, so looking at many databases, looking at enterprise solutions for the financial institutions and. And also I learned about the CFA thing. Early on, like how people are doing this, and then also realize that are written as statistics that more than 90% people in property investing can only actually add an end up only holding only one or two properties. Yeah, wow, but then only listen one person the property investors. Hold six or more properties. For me, it was clear that statistics say that not every property investor is a successful investor. Yeah. So for me, I actually started my journey with education. I thought like maybe, or let me understand how successful people are doing it. And I've spent. I mean not really I've spent lousy I invested in massive in my own education, yet, understanding from the property gurus out there, understanding the theories what they're saying. And more importantly, the network the proximities for understanding what other person had is doing. I can learn from them. I don't really have to commit my own mistake I can use theirs, of course. So understanding coming with that kind of background with that kind of open mindset, I started learning. And to answer you directly. The way I go about researching the property is understanding the fundamentals on the macro level, looking at things like supply and demand. We can see rates. And, quite a few indicators that we can work it out, like say for example days in market discount rates. And on top of that, like it's a very quantitative way of doing things to for me to identify out of 15,000 plus suburbs in Australia, where should I go. Sure. Finding out those region locks those suburbs, then it's a question of finding the relationship with the local real estate agents. Nobody knows better than the local real estate agent, what sells it at what price it should sell it was a real valuation show, of course, there's no such thing as real valuation in property market mapping a great. Yeah, it's more about, all you need is two people passionate about a property bidding. in an auction. Exactly. So, so using those kinds of understanding of the macro then having a local knowledge, understanding which server which Street, which property. And then, again, doing much competitive study around it. Like people rely somehow I don't know why but they rely a lot on the median pricing of that setup.

If the suburb has two types of properties like new and old nice properties, you know, it's excuse all together. Then mid median is basically sometimes something in the middle, and then the people paying that on buying the value because the median is this much. Dong buying an old property. So for that reason, what I tend to do is like a find the competitor of comparable sales in that area comparable listings in the area, and then contribute by attribute. Got my scientist behind me the it engineer behind me. I tend to put about 1800 properties which are comparable and trying to look at people by attribute. So kind of running more of a model like a what we call it as a factor model. Yeah, like, given attributes of property, for example, it has a swimming pool, it has renovated bathroom, there is a, what type of ceiling it is what type of flooring, it is what type of the condition, what is the condition of the property, what is the length size of the where that is facing like what sort of direction and what sort of opposite proximity to the main hubs of transportation that train station or highway, or just a neighbourhood like a missing kind of shopping centre. So working out and I would actually run through my system and would realize okay, the value of that factor as an or renovated bathroom or renovated bathroom, was the exact dollar figure to $100. At the same time, like hundreds, and then I will say, Okay, this is how it is going for. Mathematically, and then when I'm finding our property. It has all these attributes that kind of work it out. Okay. If it is, if it is a good thing, then I will give a premium to it. Sure. For that vector value. And if it is more of our low lower value or lower aspect of that attribute I will give a penalty to it. Okay. So based on that I, I do a valuation then our Oh, good no processed guesstimate are still calling estimate to work out what should be the value in my opinion that property is being priced by the by looking at other comparable sales. Wow, that's a

Jackson Millan:
Very, very robust process Rasti and look I think for anybody who's listening to this and myself included. Who has time to do that? And I think that this is where we see your mums and dads or first-time property investors who go to say a handful of open homes they open up the cupboards they look at the hot water system they check out the bathroom they look over the neighbour's fence to see if they've got chickens or something that makes too much noise. Most people's investigations when it comes to property as superficial.

Vaibhav “Rasti” Rastogi:
The thing is that I wonder like what they're looking for. According to ME bank survey in 2018 58% of the people spend less than 60 minutes before they exchange, the property.

Jackson Millan:
That's scary.

Vaibhav “Rasti” Rastogi:
I know. And also, to me it's about the opportunity cost, as in like not investing in the better property. I mean, maybe they get lucky or they do, or, you know, like they have been told, rightly so, by the friends and family I'm not really saying all the time herd behaviour is wrong, not, you know, you might be lucky. But the question is, do you really want to be lucky, or you really want to be very much determined to succeed.

Jackson Millan:
Yeah, we see this a lot Rasti, and I think that many people have a fear of missing outright. And I think I've seen many people that try and rush in and buy a cheap property and a maybe a regional or a subpar area that has no upwards pressure, and that property is never going to grow. And it's never going to perform in line with other opportunities where if they even just saved an extra 20 or $30,000 deposit to allow them to get to that next stage of property in a bit area. That'd be far more successful. As a result, and I think it's, that's a big risk right that's the reason why the statistics show that many people don't own more than one property.

Vaibhav “Rasti” Rastogi:
That's right. To me, I have nothing against the regional town, as long as the fundamentals support it show if we know there's a highway coming up, or you know, there's suddenly there's a population boom, you know like, the reason why I believe in housing or the property market, at least in Australia for that matter, is that we really need for the government really needs young professionals to support the aging population and the debt that we are actually accruing orthopedic fine yeah. We have no choice but to keep inviting.

You know the family will be there, they become a part of the expenditure. So, this is what we need. So, that's what the government is so much worried about the immigration policy showdown like is there any need to keep it consistent, yes, there's a covered right 19 right now, the effect that we have. Yet the international borders are shut down, but the question is like are they shut down for only short term or long term, we can't afford to have long term closure. Now, we really need to open up, or maybe you have to have a big boost eventually to catch up on the loss of the population growth. To me, that actually defines that okay we, the population will be growing. So, there are quite a few fundamental reasons why there will be an increase in the household number. Not only the population is increasing, but also the. The average household size. As per the last statistics which I looked at is 1.75. Okay, so 1.75 people living in one home so effectively. 35 members living in 20 homes. Sure, and that number is decreasing.

Jackson Millan:
Okay, so then that means that the dwelling that your person who's going to want over the next decade is probably going to change would you agree.

Vaibhav “Rasti” Rastogi:
Exactly right. That's a trend which we are seeing. And even if you look at people around us like you knew like 20 years 30 years ago, there was a concept of joint family, your kids living longer, people having more kids has evolved, but now it's been a bit more disintegrated for.

Jackson Millan:
Some reasons make sense. Okay, so let's talk about, and I guess one of the things I really like about your value proposition Rasti is that you talked very openly about your own investment experience. I think that there are many experts out there that don't necessarily practice what they preach. They say one thing, and they do another. So you mentioned a lot that you got much mentorship, and you tried to follow people who were successful in property. So what was the best piece of advice that you've ever got around property?

Vaibhav “Rasti” Rastogi:
I think it's the advice that actually, I would say the most valuable is more holistic when it comes to investments, not just property, if I share that. And that has to have an end goal in mind, because every investment, whether it is property or share, whatever it is. It comes with its deal risk around it. Of course, when we are talking about expected return, there is a risk. So, from the investment world, which I have practised in my investment journey as well as a portfolio manager. It's a risk-return or combination that we have to look at so it's just adjusted return. Yep. So, once we know what our goal is. Then you can work towards that job. You know, it's never linear; even our journey never leaves, it has to be strategy. So, I actually take more of a financial planning approach as a consultant, like I have nothing to sell as a shortlist of properties that are which, if Jackson issue. Come you're sold out okay, rather than buying a property. I haven't really sat down with you to understand what is the existing portfolio, yet what is your aspiration. What is your risk appetite, what's your capability, you know, and then the comfort that how far you can go because lots of people think they have to buy in their neighbourhood in the backyard, you know, so understanding all those aspects because see at the end of the day, like if I'm buying a property for you, then you have to be comfortable, not only with the property but also the process? So I take more of the education approach, making you feel that not only feel but other making you understand it's your decision. I'm just a conservative consultant with you, working with you, for you.

Jackson Millan:
Fantastic. And I think that's so important I find many people mistake investments and treat it as if it's the destination itself, and investment is just a vehicle to get you where you want to go. Exactly right. Once again if you don't have a measure of where you're going. Should you buy a unit should you buy a house should you buy a commercial property, should you develop, and there's an infinite amount of options but if you know what you're trying to achieve it makes it a whole lot easier to reduce the shortlist right it's likely.

Vaibhav “Rasti” Rastogi:
That it will be more appropriate for you, for your circumstances. Sure. So, you know, just talking about the destination. I'm a big fan of stories, you know, and this is the story that I picked from my mother early on in my childhood, and the story goes very quickly like that, that there was a young elephant baby elephant bite down to agree with a skinny row. He tried to break the shadow couldn't really break it. But are we on the way? Few weeks he tried, then he realized that okay he can't get out of it now. Few Years Later on, that's an adult elephant, with lots of energy lots of power. Yet, down to the same people are up because he forgot about it, but he can actually break it. That's not a story about elephant story about us. Because when we were young. We had lots of passion that this is what I really want to do, you know, and then we got into the life of making money. Just making enough to meet our goals. And then we forget about passion; it's like yes you know in childhood. We joked about it we thought about it. And I was thinking, you know like, the other day like I'm actually very much in touch with my friends like my childhood friends, and they are still very dear to me and probably because of the reason that they have shared our dreams very openly with them. Sure. And, you know, so the point I'm trying to make is, this is what actually do for people like asking them what they really desire. If there's no constraint no restriction. What would you do today? No, but, and then the question is, why you're not doing it today.

Jackson Millan:
I think this is a critical man I think you're right, and most people get lost has a habit of beating us down right and getting a system to compromise. And I think the whole idea of building wealth is about thinking abundantly. How can you create opportunities freedoms flexibilities that allow you to live the life that you really want?

Vaibhav “Rasti” Rastogi:
Exactly right.

Jackson Millan:
Exactly right. And on the flip side of that recipe I think there are many cowboys out there in the property industry, unfortunately, and, and for that reason, I think it's our duty to make sure that we not only help people make the right decisions, but we help them move away from the wrong decisions.

So what's been the kind of the horror stories that you've heard when it comes to property that people should potentially steer clear off.

Vaibhav “Rasti” Rastogi:
An excellent question. I think the way the regulation is up is attached to a new property of the plant property plan, you know, an apartment, like domain. I can't really make any sense of, of the plant property, but because the relationship is so much attached to those kinds of properties that there's much salesmanship around it. Yeah. And they associate somehow I mean not, I'm not really saying every property is bad. It comes down to risk-return it. And appropriateness for the individual. Sure, but to me because there's so much elimination around it. People tend to go build the trust somehow. And then, are successful in selling the property. And to your point, because it's a fear of missing out. To me, it's a survivor bias. Sure. If it is successful. Lee, that if I bought up the band property. And I made money because giving just by 5% or 10% or even just signing a contract on a $1, and waiting for three years or two years. If I made a huge amount of money. I'll be on the top of the hill shouting look this what I've done. Mr. X helped me to buy the property. Yeah and look where I am today. Hearing our story. In the barbecues, or wherever, or the people around that person might be inclined to buy something similar with or without that kind of research behind it. Yeah. So that's my take, you know like, that's the biggest, biggest challenge, like how do we build up trust, and somehow the challenges we have ourselves as well as an expert in the industry. We can't really predict X to an exact percentage point. That will be below more or less of when it comes to sentiment, even a bad stock in the financial markets can really do hard, and we take the risk of being laughed at. Rasti you said this, look what happened to me it's all probabilistic model. It's more than the likelihood of our stock or our property to do better than the other one. Given the circumstances, given the likelihood of success or failure. You know, it's like taking a chance like not really looking at the rear mirror Not in front, and just sending the car around, you know, if I made it, I made it much quicker than someone going all the way straight around about taking a turn, and then coming back. Sure. To me, that's the kind of analogy that I would take on those mines.

Jackson Millan:
Makes perfect sense. So, and I guess there are many people out there that are maybe a little bit concerned about what might happen obviously we've gone through this unprecedented situation I don't think we've seen the end of it from an economic standpoint I think we've got a pretty long journey still to come. And obviously had the, the, the, the, the COVID-19 situation we've had our first recession that's been announced in almost 30 years. But I guess the other consideration is that interest rates are at all-time lows and not indicated to go anywhere for anytime soon. So when you talk about I guess that that risk premium, that we were talking about before, people really don't have an option if they want to make money than to invest in property or shares. So, what's your view on what the property market will do in Australia, say over the, over the next few years.

Vaibhav “Rasti” Rastogi:
So, if you look at the history, share market and properties have done very similar, very similar, you know like, to me it's actually a myth, to say that it's probably wrong on my part to say that property doubles every seven to 10 years. That's some map. Because we are generalizing Australia as was one market shot. But as you know, it's a market within markets. Like, it's a heterogeneous market. Yep. So, first of all, it's definite about the property, I can buy a lemon it might not go forward, it might go actually backwards. But at the same time, I might get an excellent purchase, because we make money in the property market the way we call it. We make money when we buy it. On the contrary, that people think otherwise. Because we can find the property at a good level, and then getting a discounted. If not, if that is not available. Look for the property. So, so that is general, I'm saying for an individual for neutral property that it really comes down to the research and the and the valuation that we actually buy the property. Yeah. But if I talk about one Australian market. Yes, to your point, interest rates are so low. And there's a talk going on that it might be negative for some time just to oppose the economic fundamentally we know nothing has changed, long term. Recently, people are like they really need a roof on their head, all you're saying is, it might be a small dwelling, or smaller dwelling less number of people living, but the household gone as I was saying before, is actually saying that there's a need for the property market to as a supply as and that will be demand. Now with this COVID-19 actually what's happening is that not many developers are jumping coming to the party to bring the approvals there only what they've done is an empty laid shop so there's a challenge to the supply side demand will come back. It's just on hold for now, just because people go with a sentiment, what they read in the media, they're basing their decisions on that. So to me, any seller, who's trying to sell in the market. If they can hold that idea of selling should hold off. But then the buyers were cashed-up should really take advantage of those, those properties out there, because, to me, it's a zero-sum game. If somebody is selling something at a discount. It's a buyers game.

So, in general, overall market as a, as a economics in this area. I would say long term we are in very good spot to buy properties now. But at the same time they have to be the right properties, the right research, not just buying any property anyhow, anywhere, and the history is the truth around it like when the market actually hold this grow. Also, the other thing is that we are not definitely volatile as a property market. Compared to other risky, I mean as the property market is still risky, but the risky component is because it's a liquidity for the size of the industry. Yeah, not because it just moves up and down very much. Yeah, no, actually market we know him down a few percentage points, but after 60 65% rise. I'm happy, I'm happy to let go of the spin per cent or so, even though, just because it brings the standard in the market. Yeah. So long run, like we are at a very good spot with the low-interest rate. Population increasing challenges to the supply side, decrease in terms of household number. So there's a huge demand. Just that we need to be strategic because there's an element of risk that if the situation is bad, before it gets better. It can do worse. So, thinking about the appetite for an individual, we really have to research to get the right property.

Jackson Millan:
Yeah, make sense. And look, I think the biggest thing. My view is always accumulated as many growth assets as you possibly can whenever you can afford to accumulate them and just hold. Next, the key thing that most people are waiting well what happens if the market falls another five or 10%. And the problem is that we have this cycle of emotion that people always have that they have kind of buyer's remorse or they end up sitting on the fence and missing the boat, and you've always better to be in the market than not right. And but I guess the key thing really that most investors need to be considering is can they afford to hold long term, because one of the big things is that the investors that do the best are the ones that go white. The market falls, doesn't matter, it's just a paper loss, there's they haven't realized any losses. But for those who might be in financial hardship maybe they've lost their job may be their business isn't doing too well they might not have a choice. So when it comes to accumulating a property portfolio and I guess, assessing your situation. And where do you look at those cash flow considerations in terms of when you look at a property of understanding what the out of pocket costs are to keep that property afloat when it comes to your Legion research process.

Vaibhav “Rasti” Rastogi:
Sure, so I actually start with what is required for the individual. And I'm actually a big fan of buying a property for the capital growth. It's a capital growth that gets us to the other side of our scale of richness of creation. But having said that, cash was very critical. Sure. Because without financial leverage. We are only as good as our net worth, right. So, it's a leverage that makes a lot of difference and lots of amplification of the returns in the property, just because just my putting my 20%, or even sometimes 10% even lower. I can actually get the rest of the money from other people, which is called OPM in our. I like other people's money, other people's money love that claim testing. So, because the leverage is there. So, we really have to be conscious even from the purchase of the first property that we have to keep going with our purchase or acquisition stages. Yeah. Typically we need at least six or more properties to make that work or financial freedom, just purely based on the property investments. People get stuck at what after one or two or three properties, because they don't really think about it, which is like financial strategy around it.

Jackson Millan:
Make sense.

Vaibhav “Rasti” Rastogi:
There are two aspects of it. One is that having a plan, like having a strategy, like what happens when I buy first, second, third, who's going to find the fourth fifth and sixth and beyond, like having that thinking. Then also to your point like the cashflow money going out of pocket, like I'm, I'm a big fan of money in my pocket because cash is always King, of course, yeah. But then if I'm not really using the cash or other go and multiply it elsewhere, because at the end of the day, whether it is as an example 5000 in your pocket or 10,000 equity in my property investment portfolio is still my money. Of course. So cash flow is important from for the leverage, like future leverage, and also my lifestyle. I don't really want to be in the sort of very as a rich person board, but not really having cash in my pocket so there has to be a fine balance. And we really need to cover our scenarios, whereby if something happens around, so I've always advised people to have a proper buffer, maybe in their offset account. Yeah, or otherwise, to just cover their scenarios. And to my point on that. Jackson, as you know, you know like, probably missing just one investment, you know, we really need to cover the other aspects of the risks, like thinking about insurances in place. We are taking such a big liability of million dollars, of example, sure what happens to us are like to my family like if something goes wrong to me. So we really need to cover a couple of percentage points, to cover the scenario, getting all the insurances doing the research that actually is in itself, an insurance to the portfolio that we are building, professionally,

Jackson Millan:
Yeah that risk management strategy is so important, and I think there are a few things that have changed over the years rusty that many investors might not realize, and I guess back in the day, the borrowing rules were very different. And you could potentially as long as you had the equity, the bank would continue to lend you money. And you could build substantial property portfolios assuming that your properties were just going up in value. However, with the new Responsible Lending which is not new anymore, it's been around for many years. Still, just most people don't know about it, that the biggest consideration and the cap that most people have is this servicing capacity. And actually, every property you buy diminishes your debt ceiling for future borrowing. That's why I think the old strategy of just kind of having interest on the lines never paying back a cent waiting for them to all go up in value and fortunate that strategy doesn't work as well anymore and I think that's you right that's where people get stuck. They buy one property two properties, and then it all comes to a grinding halt. But I think you're right, the biggest risk here is the, the fear of the unknown. What happens if the wheels fall off. What happens if there's a tenant that trashes the property, what happens if you, if you if you out of a job for three to six months, what happens if you have a critical illness or an injury or an accident that stops you from working, and all of those things can be catastrophic to your to achieving financial freedom.

Vaibhav “Rasti” Rastogi:
And as we were speaking earlier like it's, it's not the destination by itself, it's just a mean to achieve a goal. Yeah, and it's never linear, you don't like there will be ups and downs. But the thing is that the person who would actually go to it easily or with less inconvenience is the one was more prepared, as we call it, you know like, if you fail to plan you're actually planning to fail. Yeah, it's so critical, when we are talking about such a high leverage ways of achieving that success. We have been cautious. And to me like people do much research, you know, when they're buying a washing machine, they have $100,000 stuff, and they go crazy in terms of funding with their friends and family looking at the models looking going to miners or you know whatnot. And they're so reluctant to enrol the same level of diligence, with a, maybe 1000 times more of a value product. Yeah, just buying it like that so that actually surprises me for this as you're doing that, like, it's just beyond me somehow.

Jackson Millan:
This is why I advocate using a property by myself personally I'd never repurchase a property without a property buy it because it's just one of those things my motto was always stuck to what you know. You outsource everything else, because it's so important.

Vaibhav “Rasti” Rastogi:
Just on that point like people say the biggest leverage in property investing is the financial leverage. I kind of believe it. Until I realized there's a bigger leverage, and that's a leverage of skill, knowledge, expertise. Correct. So, what financial leverage is doing just it's just multiplying whatever is going to get, you know, but that result is positive, less positive or negative. Is a function of the research or the expertise behind it. When it comes to the research, and the key thing, Jackson if I can also access, fundamental Research macros research, you can do at your own comfort zone on your couch. Looking at the media, newspapers, websites and whatnot. But when it comes to real estate, it's such a tangible product asset that you really have to have to be on the ground to understand the sentiment. Sure. Sometimes we lose the, the frame of context, in the sense that like if we are from Sydney looking at not on beaches, what probably is going for. And then we go to the Western Sydney, for example, and did a lot of its internet meetup block selling for this man, that's pretty good. It's the local knowledge; it's easy to appreciate this in the city context. What if you go to Queensland southeast Queensland we go to the regional towns, it's entirely different. So, having someone at the local ground level understanding what the market is very, very critical.

Jackson Millan:
100%. So Rasti we've covered quite a lot today. But what I'd like to do is summarize it into maybe three key takeaways or piece of advice so if anybody's watching this, they're potentially looking to build wealth through property, whether it be buying their next property buying their first property, what would say three key insights that you could give them to help them make the right decision.

Vaibhav “Rasti” Rastogi:
Sure. I think the four most important part is to have a strategy, have an end goal in mind and work it accordingly. Second thing I would say is that not every property is good for everyone. So there is a bit more of a subjectivity to your circumstances so have someone like a financial planner or consultants approach, working with you for you. And the third one I would say yes financial leverage is huge because of the knowledge. Knowledge leverage. Always, always go for a professional who is doing this daily. The thing that I'm probably going to touch base on this one is what an individual can find on the property market on the listed, Mark, properties only shop. Still, there's almost one-third of the properties, which actually goes without really hitting the market. And they are called off-market listings. You can only access them. When you have local contacts in that area. And now, that is a market, which is so uncompetitive, and that's where. Personally, I like to tap into all the time.

Jackson Millan:
Fantastic. I love that night; well appreciate some great value rusty so if anyone's listening to this and they'd like to get in touch with you How are they best to reach out.

Vaibhav “Rasti” Rastogi:
I'm not available on phone all the time. But sometimes it's not really easy. So, anyway, My phone number is 0401022724. I do have a website, which has a booking page, calendar as well you can simply go and directly book my time or like book time with me. It's a free obligation free consultation and, in which we can just cover what we can talk about what I can offer with my expertise and really understanding what they can get out of me, so it's just more about understanding the process very quickly and also the question they should be asking, with their professional help or in this regard.

Jackson Millan:
Fantastic my belonging could link to that below. Thank you, Rasti it's been fantastic to pick your brain on the property you've shared some precious insights to guys if you've been listening to this or watching this, if anything that we've spoken about resonates with you, please make sure that you do get professional advice. This is by far the most significant financial decision that you will ever make. So you need to make sure you invest the time to get the right advice to surround yourself with people that will teach you what they've learned and help you avoid making costly mistakes. Make sure that you get in touch with Rasti below if you're interested in having a conversation, Rasti thanks again mate I really appreciate you taking the time and looking forward to catching up again.

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