Is A Granny Flat A Good Idea For My Investment Property?

Unlock the potential of your property portfolio with expert insights from Linton of Builders Brisbane, as we unravel the dynamic role of granny flats in boosting cash flow and future-proofing investments. Discover how Builders Brisbane, a branch of Wilson Design and Build, is transforming the market with high-quality, investment-driven secondary dwellings. We promise you'll gain a fresh perspective on the opportunities these modern structures present, challenging the outdated stigma and revealing their true value as effective income-generating assets.

Dive into the regulatory nuances of Queensland's current amnesty period for renting out granny flats, which lasts until September 2025. We explore how this government initiative is a strategic response to the housing shortage, allowing property owners to maximize their assets. With a focus on Moreton Bay and its specific size regulations, we discuss the potential for future policy changes and their impact on affordable housing. Learn the art of balancing local regulations with tenant appeal to optimize your investment strategy and stay ahead of the curve.

Join us as we examine Logan City Council's investor-friendly approach to granny flats, which has made the area a hot spot for savvy investors. We assess the role of infrastructure charges in financial planning and the importance of being prepared with quotes and site plans for future builds. As interest rates rise, understanding these elements is crucial for maintaining and increasing your financial returns. Gain valuable knowledge and strategies to navigate this economic landscape and enhance your investment outcomes.

Chapters

• 0:00 Investment in Secondary Dwelling Planning
• 11:00 Granny Flat Investment Regulations and Potential
• 21:58 Strategic Investment in Granny Flats
• 25:11 Increase Cashflow Through Investment Education

Transcript

Speaker 1: 0:00

So welcome back to another episode of the Taylor Property Wealth Podcast. Today we have a guest on the podcast, linton. Welcome to the show, thank you for having me. And today we're going to be talking all things I guess granny flat builds and I guess how we work together, absolutely as a team, with, I guess, adding some secondary dwellings across the Brisbane marketplace. Yeah, what everything looks like.

Speaker 2: 0:23

Yeah, yeah and I'm stoked to be here, mate in collaboration.

Speaker 1: 0:27

Yeah, so tell me, I guess, a little bit about your background, what you guys do.

Speaker 2: 0:33

Yeah, well, I guess I'm here as a representative, right in the sense that we are Builders Brisbane, subsidiary of Wilson Design and Build, long-term building company, family-owned, multiple generation. I guess probably the easiest way to break it down and how we started working together is from a business standpoint. There's two wings for our business. Wilson Design and Build is our custom design homes and then Builders Brisbane, which is the side of the business that I'm operating, is effectively our investment wing. So we work with a lot of people like yourself, buyers, agents, brokers, investors across the board.

Speaker 2: 1:06

So Builders Brisbane effectively works and has become very ingrained into the fabric of the investment space in Queensland for quite a while. But you know, as this side of the business, effectively what we're doing is helping investor clients develop strategic assets that have a goal in mind. So we do a lot in the space of secondary dwellings, we do dual occupancies, we do duplexes, we do investment grade homes, townhouses, but effectively it's it's more of the, the strategy driven builds that we're helping people put together yeah, yeah, and I guess for me as a buyer's agent working with you guys, we focus a lot on that due diligence process, purchasing those properties where you can add on some of those secondary dwellings.

Speaker 1: 1:51

So it's great to have you guys on board as part of that team to be able to help out and yeah add cash flow, add supply to yeah, I guess a marketplace as well that kind of needs that supply at the moment right 100 down to supply that we're working with in Queensland is astronomical.

Speaker 2: 2:06

But on the investor side, obviously it affords an opportunity, right yeah, in the sense that you know there is the ability within planning schemes and different LGAs all over the place to be able to establish secondary dwellings, look to free up a little bit more cash flow from the portfolio. Ultimately and you know, working with yourself and some other buyers, agents we kind of fill that gap and we come into the process early. You know we work through the due diligence. Obviously, when you're working with a client who's purchasing, investing a large sum of money into a strategic asset with the goal being to, you know, pull the trigger on a granny flat or whatever the outcome may be, there's some hefty due diligence involved in that that and we're looked in right from the get-go. So your clients have got that peace of mind yeah, and I think it's great.

Speaker 1: 2:49

As part of the team, I always just reach out, get your ideas, your feedback, your feasibility on it, yeah, which is just great. So right from the start, you're doing all your due diligence in the correct line and see what the options are. I guess when, when purchasing, yeah, yeah, well, absolutely.

Speaker 2: 3:06

I mean, as you know right, you work with a client who's very focused. They come in with a clearly defined strategy and sometimes it's just value-add for people in the sense, too, that maybe they are just looking to get into their first investment property and they want to know exactly what they can and can't do moving forward. So we kind of fill that lane on both sides.

Speaker 1: 3:22

And that's what I say to clients all the time. Sometimes it might be part of the strategy, but we find a property where you can do the granny flat.

Speaker 2: 3:29

And.

Speaker 1: 3:29

I'm like you might never have to or want to do this, but it's that option in the future where you can come back, add some supply, create some cash flow.

Speaker 2: 3:38

Yeah, and future planning is exactly right. Future planning Maybe it wasn't initially part of the strategy, but somewhere down the line the the seed is planted. Oh man, I can actually look at doing that. I can come away, I can put together a little bit more of a deposit. Yeah, I can go and pull the trigger on a granny flat. I know approximately what that's going to look like, how it's going to come together, yeah, roughly what it's going to cost and what that yield is going to look like, and then obviously they can sit with you and plan that move in the future. But but yeah, it's really really exciting, yeah.

Speaker 1: 4:07

And that granny flat or secondary dwelling isn't like the clapped out granny flat that people think about like 20, 30 years ago with the spider webs out the back or whatever. Hey.

Speaker 2: 4:14

Yeah, no, you're 100% right. It's a weird stigma. That granny flat term is probably pretty antiquated. Now, yeah, it's definitely, you know, sort of tiny homes, I suppose is the new norm. Long gone are the days when you're dealing with that sort of demountable stuff in the backyard. You know everything that we build is I'm sorry, everything that we build on the granny flat side is built to the exact same specifications that we build any of our homes, right? So, yeah, they are really really nice, tidy little dwellings and it's important. You want to tread that line. Ultimately, a granny flat, for the most part, is a cash flow tool. So you want to tread that line really really closely with what you're spending versus the tangible yield, knowing there's going to be a ceiling, typically based on the number of bedrooms and the area that you're going into. But you want quality. At the end of the day, you want to have something that a tenant's going to walk into and have it not feel like the demountable stuff in the backyard.

Speaker 1: 5:04

You want a really really nice, well-developed, well-structured, private little home and that's what we're doing yeah, I like to think it's just a really solid unit, kind of with that that deck and a little bit of a backyard, which you might not get in a typical unit elsewhere, right yeah, yeah, 100.

Speaker 2: 5:19

I mean, if you're doing that market analysis and looking at the comparables, obviously it is units, right, just by virtue of their inclusions and their overall floor space, yeah, but I think where granny flats are definitely becoming more of a um, a desirable thing for people to look at is you do have those little extra features. You know you have got somewhere to park the cards a little bit closer. You're not having to deal with walk-ups and elevators and all the rest of it. You've got a little little bit of backyard space. It's nice to step outside and put your feet on some turf at the end of the day. So, yeah, they're definitely being snapped up really, really quickly and no doubt you'd be seeing that as well as your clients are finishing projects and they're getting rented. It's overwhelming. It almost staggers me every time we finish one of these projects and hand it over.

Speaker 1: 6:12

It's nice follow the yield through and see where they end up in the market. And it's, yeah, it's, it's incredible. Yeah, yeah, I just was speaking to beck turner, that I said off off camera before and she just rented one in redland bay for a crazy good price and it's just, it's crazy what they can get right in terms of that rental income yeah, yeah, absolutely.

Speaker 2: 6:22

I mean, obviously we're working with a pretty heightened supply demand ratio in queensland at moment Most of these little council areas that we're looking at we've got vacancy rates less than 1% across the board, so there's definitely a little bit of pressure that's driving that. But yeah, I mean, every time I have one of these conversations with a property manager to follow up, it's always oh, 50, 60 people came to the inspection they were queued up, we were overwhelmed with applications and we're talking about secondary dwellings.

Speaker 1: 6:51

So, yeah, the landscape shifted immensely. Yeah, and it's creating that more affordable option as well for people right, like whether it's like a younger couple that's saving for their first home or whatever it is. It's just a great option where they can get into something brand new still affordable and and all the rest of it yeah, 100, 100%.

Speaker 2: 7:04

We kind of that's something that you know is thrown around the office from time to time we almost feel like we're, you know, benefiting on both sides of the equation. We're able to help our investor clients go and, you know, put something together that's incredibly meaningful for themselves and their families longer term. But it is really nice to be contributing to that supply of affordable housing all throughout Queensland, where we're desperately short of it at the moment.

Speaker 1: 7:26

Yeah, for sure. And what would you say? Your demographic is that you typically work with throughout the products that you, I guess, offer. Does it vary?

Speaker 2: 7:36

I imagine yeah yeah, I mean on the client side specifically, or that's what you're referring to. Yeah, I mean, as I said a little bit earlier, builders Brisbane as a brand, so to speak, focuses almost entirely on investment grade products. So we work with a whole array of different investor clients, but I mean it's not to say that we don't work with the everyday person that's just looking to build a nice little home in the backyard to bring a loved one a little bit closer. Yeah, um, but for the most part, you know being so now interwoven into the fabric of the investment space in Queensland, it's, it's working with, you know, direct client investor, perhaps somebody that's purchased investment property or has been sitting on it for a period of time with this as a goal.

Speaker 2: 8:19

Who's now coming back to pull the trigger on the cashflow element of the strategy. Or it's working with people like yourselves who are taking clients through that entire process. They come to you. They say, casey, I want to purchase my first investment property at Granny Flat's. Part of that strategy longer term. You go out, you find it for them, you introduce us early in the project to to run that due diligence. Yeah, then, as soon as you're settled, we take over and guide them through the granny flap process end to end.

Speaker 1: 8:46

So I suppose there's a little bit of variance in the sort of clients that we're working with, but, yeah, the commonality for the most part is that they're they're investment yeah, clients yeah yeah, yeah, I love it, and I guess there are some changes on a state level that are kind of being looked at, yeah, and then different local government areas as well, making some changes that are going to come through. Are you able to kind of touch on the state government stuff?

Speaker 2: 9:12

Yeah, queensland for a long time has sort of been the wild west when it comes to granny flats, in that, you know, we don't have a defined statewide policy in the same way that you see in New South Wales and Victoria, so a lot of the discretion as to how granny flats are executed has been put in the hands of the individual council areas or the LGAs, which means as you're traversing around you kind of have to be a bit of an expert, especially, you know, as you're buying for clients in multiple areas with different budgets. But it's not to say that you know a granny flat in Logan City Council is the same as Redland City Council or Brisbane or Morton. It's very different across the board and it does vary up and down in terms of you know specific site requirements, you know granny flat specifications, usage terminology, that there's a whole array of differences and you know navigating that is somewhat challenging at times, but we are possibly, possibly we're in the early stages at the moment. But there has been a proposal being put forward by the state government to look at moving to a statewide policy for design standards and usage for granny flats, which is extremely exciting.

Speaker 2: 10:13

I think obviously, as we've touched on earlier that supply-demand is stretched absolutely to breaking point. So as a state, we need to be looking more in the direction of solutions to be able to provide affordable housing and start to curb the trend a little bit more. So, yeah, it's exciting new information. It's only come out a couple of weeks ago. It's been a proposal put forward and they're going through those early stages of consultation just to start to gauge some response. But yeah, it looks as though we could be moving to a statewide scheme, which would be really, really exciting.

Speaker 1: 10:43

I think, like you said, it's like we're struggling from that supply point of view. We've got historically low vacancy rates, so it's great that they're starting to be a bit more open to kind of that statewide policy to create some more supply across the board.

Speaker 2: 10:57

Yeah, I think the writing was on the wall a little bit right. As you know, we're sort of existing in this amnesty period at the moment whereby, although you could always build a granny flat in virtually any council area around Queensland, the usage was restricted quite heavily by the individual council. Some said, you know, go ahead and rent it out separately, that's totally fine. Other councils had restrictions on that. You know, it had to be rented out, as you know, one sort of fixed lease agreement with the existing dwelling, or it had to be rented out to associates of the people living in the main dwelling.

Speaker 2: 11:28

So we are living in this amnesty period at the moment, which runs through until about September of 2025, where state government stepped in and said look, we are desperately short on housing for the next three years. Go out, build granny flats, knowing that if you do in that space and time, the rule set will be grandfathered and as will the usage, and you'll actually be able to rent that separately. So when they did that, we started going OK, this might be sort of foreboding as to what's coming and obviously, now that we've seen this proposal put forward, it looks like we may be moving to a statewide policy.

Speaker 1: 11:59

Yeah, obviously super exciting on the the investment front yeah, for sure, and probably touching on some specific local government areas and maybe just touching on kind of the possibilities. At the moment, um, I'm obviously in the process of getting one sorted in morton bay, so what's kind of what I guess the basic requirements there and yeah at the moment at the moment.

Speaker 2: 12:22

Yeah, morton bay is liable to change. Um, it's a little bit up and down, as you know. I mean the the rule set that we've been working to for the last few years has effectively been limitations on sizing for granny flats at either 45 and 55 square meters yep, and that was always based upon the frontage of the property that you held. So, so if you had a property that are frontage sub 15 metres, you were capped at 45, anything north of 15 metres, 55 square metres, which is obviously what we're working on with you at the moment a little nice two bedroom 55 square metre granny flat. So that's what we've been working towards in Moreton Bay. I mean, obviously, if these state changes come to fruition fruition we could be looking to see that cap increase, which is really exciting.

Speaker 2: 13:01

Yeah, but at the moment, yeah, 55 square meters. They're probably one of the more restrictive council areas when it comes to granny flats at the moment. Yeah, not that that's always the worst thing in the world. It sort of just means you've got to be a little bit more creative with design.

Speaker 1: 13:14

Yeah, so over the years we've worked with different property managers, different buyers, agents, with gauge feedback from tenants, and we've crafted designs that work inside those limitations and ultimately are received really well, yeah because you've got to think about it from, like, the local government area and what you're allowed to do, but then, on the flip side, you need to make that appeal to the tenant right at the end of the day, because there's no point creating a product that no one wants to rent. Absolutely yeah, it's finding those balances between everything, isn't it?

Speaker 2: 13:39

A hundred percent, yeah, a hundred percent, yeah. There's definitely a lot of follow-up and research. I suppose that goes into it. Obviously, we design everything in-house as well.

Speaker 2: 13:47

It's full design build. So we've got a whole library of different designs that we've specifically put together for the different council areas where we've got different limitations, and all of those designs have been collaboratively put together based on tenant feedback. Okay, how was that design received in the market? It was picked up really well. Any feedback from tenants? Cool, can we take that, apply it, tweak the design if necessary?

Speaker 2: 14:08

Yeah ultimately, you just wanna be constantly putting our product in the market. That is strategically driven, to give the best outcome for, obviously, the tenants, but also for our investor clients.

Speaker 1: 14:17

At the end of the day, knowing that Granny Flat is a cashflow tool, you want it to be received really well and I'm a big believer of those small one percenters. So if you can make those small one percenter changes to appeal to tenants and get the best out of the product. It's awesome.

Speaker 2: 14:29

Absolutely yeah. We wouldn't be doing our job correctly if we weren't putting the focus on it Moreton Bay at the moment.

Speaker 2: 14:35

So there is the restriction around the occupancy that's obviously grandfathered if I'm correct until is that September next year, that you can rent to two separate households. That's correct. Yeah, so that statewide amnesty period expires. It's approximately September of 2025. And it was tabled at the time when this amnesty period was put into place that at the end of that three-year window there would be some impact studies sort of performed on the state level, looking at each of the individual council areas just to, I guess, receive feedback, see how the introduction of separately rented granny flats affected those areas, After which time they would look at whether or not they would move to a statewide policy or whether they would elect to put statewide policy or whether they would elect to put the usage terminology back in the hands of the individual council areas. And that's kind of where we're getting to now and obviously the proposals come through for a statewide policy. So I think the due diligence is happening across the board and then we'll see an outcome, hopefully quite soon.

Speaker 1: 15:34

Training in the right direction.

Speaker 2: 15:35

Well, fingers crossed. I mean, I think we're screaming out for solutions for affordable housing rights, right? So yeah, I think that's ultimately the direction that we'll end up taking, or at least I, I really hope so, yeah and that's yeah.

Speaker 1: 15:47

It's like a solution to be able to help alleviate the rental crisis and supply that we desperately need absolutely, yeah, yeah, it's a positive. Um, I guess going to just a couple of other local government areas and their requirements. Ipswich City Council kind of what their guidelines are now and what they're changing to what's coming.

Speaker 2: 16:07

hey, Hopefully soon. State of flux.

Speaker 2: 16:09

I know this is a constant conversation between you and I me and all of our clients that are holding investment property in Ipswich at the moment. Yeah, look, ipswich has been probably one of those council areas that has been a little bit more restrictive when it comes to granny flats, in that the requirements were high and what you could develop was quite small. So at the moment still, obviously, we're waiting for a new planning scheme to be officially signed off in Ipswich, but at the moment in the Ipswich council area they do require a slightly larger block. It's a minimum of about 800 square meters to develop a secondary dwelling that's capped at 50 square meters one bedroom configuration. So it is a little bit more limited.

Speaker 2: 16:44

Having said that, we've built many, many one bedroom granny flats in Yampswich over the years and ultimately they are picked up and rented quite well. They're a great functional little design. But excitingly, obviously, what we've seen introduced with the new planning scheme we're waiting to have signed off it's past consultation, it's at those final phases now is increased caps across the board and that's obviously really exciting, going from 800 square meters to build 50 to now a new sliding scale where the size of the property is going to determine ultimately how big of a granny flat you can build. We're looking at 450 to 600 square meter properties. You'll be all clear to build a 60 square metre granny flat, which is a really good functioning two bedroom size Properties. From 600 to 800 square metres, you'll be eligible to build 90 square metres, so again bigger, and then 800 plus blocks. Will be clear to build granny flats up to 120 square metres under the new planning scheme, which is huge. That's small house territory.

Speaker 1: 17:39

At that point, yeah, it is really exciting three bed, two bath yeah it's yeah, it's a decent sized property absolutely yeah yeah, and with that property it's going to obviously have a, I guess, a separate yard, separate fence, separate metering as well. So it's, although it's on the same title, it's going to be completely separate to that established dwelling at the front right.

Speaker 2: 18:00

Absolutely, and I mean that's an important distinction too, in that a secondary dwelling is effectively that it's a secondary dwelling, in that it will always be secondary to the existing on the property.

Speaker 2: 18:10

When you're developing a granny flat, it's not a separate entity that can be titled or sold separate to the existing home, which is why in the investment space, we just often refer to them as a cashflow tool, because they are effectively that.

Speaker 2: 18:23

But in the way that you set them up absolutely you know you look at incorporating separate electrical meters, sub meters for water, subsequent connections for NBN. So, to an all intents and purposes, the granny flat is running entirely separate to the existing dwelling, which makes it easier for property management, far easier for tenants to manage. And then, from a design standpoint, yeah, absolutely, there's some best practice that you should look at following you really want to best you can avoid the notion or the feeling that there's just a separate home stuffed in the backyard and you've got that sort of cross collaboration between tenants all the time. So, if and when you can, absolutely dividing fences, always you want to try and create the perception that it is a neighboring dwelling yeah, more so than that granny flat in the backyard. So define separate access points, functional privacy as best you can. Yeah, on a site-by-site basis. The articulation of the granny flat even down to the small things like windows, just making sure you don't have that crossover between tenants as best you can.

Speaker 1: 19:22

Yeah, it's a well thought out thing, super private, even though they're both there.

Speaker 2: 19:27

Absolutely. Yeah, I mean it's sort of that set and forget model right, especially on the investment side. Put together a really good, well-thought-out site plan. Don't rush through it. Come up with a good concept, working through sorry work, through amendments, bringing your property manager into the equation. Review the plans together, garner that feedback before ultimately, we set on something and put forward and build it. That way it's all set up, it's separate and away you go, you can let it do its thing.

Speaker 2: 19:58

Yeah, it's a lot of moving parts, a lot of people in the team to be able to get it all right from all different perspectives, right, yeah, yeah, I suppose so, I suppose so, but I mean always. You want the outcome to be meaningful, right, and and that takes a little bit of time to do that sometimes. But all right, for sure, for sure. But working together in the way that we do, I think we we achieve that really well. You know're brought in from day dot. From the moment you first go under contract on that property, you've passed it through all of your checks to understand that it is definitely possible to get a granny flat on there. You bring us in, we conduct that due diligence, we put together concept site plans and then, right from the point of a contract being signed, we're looped into that equation so that we have all of that information and, ultimately, the granny flat we go on to build. If the client goes on to build, it's going to be the best outcome for the site yeah, and that's what you want to do.

Speaker 2: 20:37

As a sophisticated, educated investor, you want to surround yourself that team of specialists right across the different aspects, so you can just tick all the boxes and get it right, because one person trying to do all these different bits and pieces.

Speaker 1: 20:49

Even me, I mean, as a buyer's agent, I can't do all of that right. So you need to leverage those people in all aspects to get it right always yeah, it does all network building, isn't it?

Speaker 2: 21:00

and I think that's what the most savvy investors always do. I know robert kiyosaki still says that right. Whenever he goes into a deal he sends in his rugby team yeah, because he's got all the people in the correct positions to be able to make the decisions better than he can. I think that's what a savvy investor does always, and at Builders Brisbane we just sort of form one of those roles, right.

Speaker 1: 21:18

Yeah, 100%. And quickly touching on, I guess, just one more local government area is Logan City Council.

Speaker 2: 21:26

Yeah.

Speaker 1: 21:27

Are you able to tell me kind of the requirements there in that local government area?

Speaker 2: 21:31

Yeah, logan is relatively straightforward in the sense that you've got granny flat sizing capped at two points based on land size. So effectively, if you're working with a block anywhere up to a thousand square meters, they place a secondary dwelling cap at 70 square meters in terms of the granny flat size On any block north of a thousand square meters. You're all set and clear to be able to do a hundred square meter granny flats. You can expand a little bit bigger there. But, yeah, relatively straightforward in Logan.

Speaker 2: 21:58

Logan is one of those council areas that's always been quite development friendly and accepting of granny flats, so separate usage has always been something that they've been in support of. But, yeah, quite a straightforward council area to work with and ultimately, one that we're building a lot of granny flats in it's. It's a council area that has brought in a lot of investors, specifically over the last four or five years, a lot of which are now, you know, leveraging that ability to to extend the cash flow by building granny flats yeah, and there's probably there's an infrastructure charge there in the logan there is in there yeah, there is.

Speaker 2: 22:32

So Logan City Council does have infrastructure charges and they're measured against the number of bedrooms. Ultimately the dwelling has Pretty easy to go through and get an estimate directly from Logan City Council just using their hub. But ultimately it does work out to be about $20,000 or thereabouts for infrastructure fees for a granny flat.

Speaker 1: 22:50

And you just add that into your feasibility right and your numbers, all part your numbers.

Speaker 2: 22:54

All part of the financial due diligence, right, yeah, and that's something that we try to assist people with from the outset. I mean, obviously it's the construction due diligence going okay, can we get a granny flat on this site? But going one step further, even if the client's not building immediately, being able to help you out with some sort of preliminary quote so they can go yep, I can do it. Here's roughly what it's going to look like in form of a site plan and here's approximately what it's going to cost. At that point in time, you're able to go cool, yeah, this makes sense. I can move forward right now, knowing what the end outcome and the yield is going to be. Or maybe, if I have to shelve it for a couple of years, cool, I can start to run those sums and do that due diligence now. So it's something I can aim for in the future yep, and that's the thing, right.

Speaker 1: 23:32

We have some clients that probably aren't in a position to pull the trigger on the granny flat straight away, but they want to do it in the future. Yeah, so it is just getting it all in a row now and then, when they are in that position especially when we see rates drop, their borrowing capacity improves, things will jump up a bit and then they've got the capacity to go and lend the funds and get that cash flow injection into their portfolio or the one property or whatever it looks like.

Speaker 2: 23:53

100 and get that cash flow injection into their portfolio or the one property or whatever it looks like 100 and for that interim period, just sleep soundly, knowing that the property they've invested their money in for the time being is going to allow them to go ahead and fulfill that strategic goal longer term and there's no guarantee right like that.

Speaker 1: 24:06

The rules today are the same in a couple of years time, it's always subject to change. Right, but you can. You can only control what you control. Make sure it ticks all the boxes for now, and then you reassess. Make sure it still ticks all the boxes in a couple of years.

Speaker 2: 24:19

Yeah, absolutely yeah, I mean it's something we sort of have to drill home sometimes is that councils are always liable to change that position, right, yeah, and we do see little amendments to planning schemes here and there, which is why, you know, potentially, with a statewide policy coming down the line, there might be a little bit more reassurance in that regard A bit more clarity, that'll be nice.

Speaker 1: 24:36

More clarity? Yeah, it's just something. As an investor, you can't control some things. There's always something yeah, yeah, so negative gear, and it always comes back around the discussion about it.

Speaker 2: 24:46

The old property cycle. Yeah, yeah Well thanks for kind of going through, I guess, the different options in some of the local government areas in the Brisbane area. I think it's just insightful for investors who are purchasing in a little bit more. I think you know most of the time you know knowing is the first part right, so you can start to shed a little bit more light for some people that perhaps hadn't even thought about that.

Speaker 1: 25:20

Exactly right.

Speaker 2: 25:21

I'm sure there's innumerable clients that you've worked with over the years that are holding investment properties that are maybe going to start to go. Okay, rates are a little bit higher. I need to start looking and increasing that cashflow from the portfolio. What's a meaningful way that I can do that? And starting to introduce more and more people to this concept is a really important thing, so I'm happy to sit down and chat to you about it, mate. Yeah, thanks, man appreciate it Well good, no worries.