Fired Twice to Building a $7 Million Real Estate Empire

started at six years ago. After I got fired from my last job and I was like, if I don't give it a shot now, where? To get fired. I didn't need a fired.

You never told me that. Not many know this. It's really is real when they talk about the housing shortage right now and the cost of living. Like people are willing to rent a room for $300 then to get their own one bedroom, you know, for $600.

You're lucky and you've got, you know, wealthy parents like yourself, Steve. There's a game. There's a game. It's a welfare.

The biggest lesson I learned at that point was I worked so hard and obviously I wanted to make money so quick, but the biggest lesson was making my quick can be the quickest way down because I felt for one of those scams online. There was one of those where let us invest your money. We'd double it, we'd triple it. So I was a 17 year old kid.

I basically gave them all of that money that I'd worked for, basically, 14, 16, 17, gone. So that was my biggest experience. Life lesson number one. Exactly, exactly.

That's a brutal agent. That's brutal. Very strange. You can imagine if you're talking to a client about their homeland, you're like, by the way, do you want to invest just on the side?

Yeah. Since I saved you money on the deposit, you want to put that spare 20 grand into it. Everyone was like, you've got to hide. You've got to hide, but I'm like, wow, someone's salary is going to cost me this much and that's terrifying, isn't it?

Nema, welcome to the show. Thank you. Super excited to have you. We've been talking about it for a year.

Probably. About a year. And it's good that we didn't do it before now because look how much your business has grown in the last year. It's exponential, right?

Can almost say it was part of your plan. It was always, I do see the future. I think more so it's, you've got time now because you've grown and you've got other people to help you. Whereas before, you and I were both very time constrained.

So look, it's good to have you on. I'm going to go all over the shop with your background because I love your history. Because obviously we've known each other for about a year. There are variants in there, but there's a lot of things I don't know as well.

And you said to me, there's nothing you want to talk about so we're going to talk about everything instead. So just to kick off for the audience who's watching, describe what your business, come on any capital it does, and say your name, introduce yourself to our audience. Okay, I'm Nema Kamani. It's a Persian name, both my parents from Iran migrated during the revolution, but fast forward to what I do today, I run Kamani Capital, I started it six years ago after I got fired from my last job and I was like, if I don't give it a shot now, where?

To get fired. I didn't need that. You never told me that. Not many know this.

I don't know if this is the right place to be. We're coming back to that. Yeah, so tell us what the business, before we come back to you getting fired and I just don't want to dig down on that one, what does Kamani Capital do? It's basically an end-to-end solution to building wealth through property.

So from where you are now, to where you want to be, call it financial freedom retirement, we'll do the planning, the lending, acquiring the property, the accounting, basically just come to us, we handle everything, get you there. And this all stem from myself building a successful property portfolio. So I said, why not do it for others? So tell me, when you say you do everything, let's run a scenario, right?

Let's say I've decided, right? I've got some spare cash and we'll go back to how much soon, but I've got some spare cash. I feel like I need to buy some property, but no idea what I'm doing. I don't know the taxes, I don't understand all the deductibles, all that stuff, there's so much information out there.

I can come someone like you or one of your team and you will literally say, right, what, how's it going? Do you say how much do you want to retire on? How much money have you got? How's that sort of discovery going?

And that often is the first question people ask is I've got this much money ready to start, but people don't realize you don't even need anything because so many people have so much equity already in their home, like you know, they bought it, maybe five, 10 years ago, it's doubled. So there's so much money we can extrapolate from that as a deposit for their next property, but what we would do is essentially, we would meet with you and you would tell us, look, I would ideally want to reach $200,000 in passive income to retire or just be financially free, live life on your terms, you'd like to call it.

And then essentially from there, we've got a platform that shows based on your savings, your incomes and everything, how quickly you can get there. And then basically we will map in full intent strategy, it might be acquired to properties this year, way to year, then we can acquire another one because we buy under market values. So without getting too much into details, essentially they're mainly distress sales, so they're mortgagey possession, the bank needs to get their money back because someone's not making repayments, so they just want a quick sale.

So we'll look for those types of assets. Clients can often draw up to 80% of the new value three months after they settle. So they can get a lot of their deposit back to go into the next property. And that's how we fast track building a portfolio.

And then we set up trust and companies. That's why we have the accounting arms. So we can actually unlock borrowing hacks to borrow more money. That's how clients can get over three, four properties.

And then obviously then we get either loan, the appropriate lender. We've also got our own white label facilitated now, so we've do command capital funding as well. Okay, cool, I didn't know that. Yeah, that's good.

It almost feels like every six months a new service is coming on board. And I think that's just because when things are working, people want to work with you and you figure out how to add more value. And then lastly, it's the acquiring the property. So I hope that all makes sense.

There's quite a bit there. Yeah, absolutely. And you go and find them. They don't have to find the property.

You find that you source that for them and you source it all over Australia. Because I'm guessing you've got things like land tax and other things you don't want to have more than the same state. Exactly. And sometimes like look at what Brisbane's done in the last four or five years.

It's almost doubled. Whereas Sydney might have only gone up 10, 20%. So I think for us, it's not just about land tax, but where's going to be the next big growth spot? So we're focusing a lot on Victoria at the moment.

And would you say that the bulk of your customers are everyday Australians or are they wealthy high earners or is it literally home to anyone? Yeah, it is literally anyone, but I like to now be more specific with that. So people can recognize what's the ideal client. And I think it's anyone who's a everyday professional who's got a bit of money, who wants a better future.

And I'd say we like to help basically the everyday Australian. What about, I'm just going to go a little bit off piece. I understand the whole equity thing. Lots of people have a lot of equity.

That makes perfect sense to me. What about someone who is quite young who hasn't bought their first property who's like, I don't think I want to do that? It's going to take me so long to get the property I want in the area I want. I want to keep renting in Bondi or wherever it is.

How much would they need to kick this off if they don't have any equity at all? Is there a minimum amount? Yeah, good question. There's two approaches there.

If you're lucky and you've got wealthy parents like yourself, there's a good, there's a good, there's a good, it's a wealthy. No, I mean what your kids could maybe do with yourself. Oh, I see what you're going with that. OK.

But there's something called the guarantor option, which essentially means you don't need any money. You can secure it against your parents, probably, for example. So that's one option. And then the government's bought out this scheme where you only need five percent, and they can be the guaranty.

Yeah, I was like, do they guarantee it? I didn't know that. Yeah, so how would you usually work as typically you'd need a 20 percent deposit? Otherwise, you'd have to pay something called lender's mortgage insurance, whereas now the government said nearly need five percent.

We will guarantee the remaining 15 percent, as long as you meet the eligibility. And there used to be an income cap on it, but now they've taken that. So it's really for a lot of people, but every state has a different threshold. So New South Wales, I believe, is now 1.

5 million. So you know, they want to go for their first home by $2 million properly. That's not possible, but we usually advise not doing that. Yeah, that's a big, that's a big first property.

You probably want to live in that one. Okay, cool. So it really is open to everyone, it's fantastic. I used it for my first one too, about six years ago, for a $630,000 place in neutral pay, I only need to put down $30,000, which was five percent.

Wow. So how many have you got now? I've got nine now. Nine?

All in Sydney or all over? I know Brisbane, Melbourne, and a few in Sydney. Okay, interesting. Now let's go back to the interesting part.

You got fired. What were you doing? What was your previous job? It's funny, that's not the only job I've gotten fired from.

Okay, well, you know what, let's before we go into that. Let's go way back. Let's talk about, because you do have a really interesting history, like all Persians, talk me through some of the moments that I think our audience will not just appreciate hearing about and enjoy hearing about, but I think it shows that you don't have to be good at everything until you find the thing that's right for you, right? So give us a little bit more of a history of Nima.

Yeah, I think a good story is I was always fascinated by money, not because of just this idea of money, but what it could do, I saw my parents come to the country's immigrants not have much money, had to go to public school, then they eventually, I really wanted to go to private school, so halfway through that would change. So I got to see that difference in what money could do. And I think from basically the age of like 13, 14, I became quite fascinated on how I can improve my life even more, even just like they've done for themselves and us.

So I became a paper boy at the age of 13, and it's kind of funny, it started off as just doing a bit of, I grew up in Greenwich. So I was doing a few of the suburbs, and by after a year, I was a 14-year-old boy doing the whole suburb, I was like the paper boy for the whole suburb. How long did that take? Wasn't doing any of my homework?

No, I was going to say, where's my parents like, what is this kid doing? Greenwich is pretty big. I know, I know. It was a bit of a good couple hours a day.

I would have been at least two, three full days. I spent one day, was advertising papers. I'd spend one day putting them all together, and then my mum was very nice. She loved the walking, so she would help me.

Mum's do that, yeah, exactly. I washed cars when I was 13, that's what I did. I started going around the neighborhood washing cars. I loved that.

I loved doing that. There's something at that point, you know, even making $20, you're on top of the world, you know? Yes, 100%. Cool, so paper boy, you can get far from that machining.

No, I did actually get far from that. You did actually get far from that. Why? I guess I was taking up too much, I could chew.

Right, and then you were letting the standards drop. I didn't do much work. I didn't do much work. To stand it with definitely.

You should have employed some 10-year-olds. I know, I should have. I should have gone my dad involved. Yeah, maybe.

But I lost all of that, too, because I started thinking, I'm going to put all of this towards a house deposit. I didn't spend any of that age about a house deposit. Yeah, literally spending any of this money. It's not a house deposit, but like, let's put it towards something that will further appreciate.

Because I've worked so many years saved up all this money. I think by the time I was 16, 17, there was like $10,000. So, you know, not a lot of money for a kid that age. And I think that was the biggest lesson I learned at that point was I worked so hard, and obviously I wanted to make money so quick.

But the biggest lesson was making my quick can be the quickest way down. Because I felt for one of those scams online, there was one of those where let us invest your money, we'd double it, we'd triple it. So I was a 17-year-old kid, I basically gave them all of that money that I'd worked on basically 14, 16, 17, gone. So that was my biggest experience.

Life lesson number one. Exactly, exactly. That's brutal. That's brutal.

And I told myself at the time, if that's the most I ever lose, then that can be the greatest lesson in it. Is that the most you've ever lost? No, I'm sure. Of course not.

And I think that's like, it was a few years ago, it was a lot more than that. And I don't know, I guess I'm trying to say, well, maybe this is the new level time lock. Oh, well, let's not get into how it was all lost money. That's just a depressing conversation.

Oh, I continue on. So, paper boy, did you get a uni? I did, but I dropped out. But now I'm also doing my MBA at UNSW.

Why did you drop out? I got in and didn't go. So I didn't even go and drop out. I'd never even made it to day one.

But what made you drop out? I think I didn't even want to go in the first place. Well, that was a good reason. I was interviewing for jobs throughout high school.

Because again, I just knew that I wanted to get to financial freedom. I'd read a few books like Rich Dad Poor Dad, so it became a great book. It becomes pretty apparent to you that it's not about how much you make. It's about how much you can save, invest, and make it work for you.

So I found I had started into your jobs when it's making money. I ended up working at one of the biggest brokerages two days outside of high school. Mortgage broken in two days. Jesus impressive.

Yeah, because I was interviewing in high school. They didn't know. They try to fight. That was another job.

But try to fire me a week in. They're like, we thought we thought you were 21 and that because because that, you know, Persian boy had to be here today. What's that? Did you ever be at school?

Yeah. Well, they made us shave it. But throughout that time between trials and the week, I got to grow it out again, you know. So they were like, okay, he presents well.

He's old. So they they wanted me to actually start the following week. But that was when they just sent you. So I put the start date as fifth of November at the time, 2016.

So yeah, that was that's when I knew I was like, this is it. This is what I want to do. It's a lending. It's property.

I don't even want to go to university. But then I ended up getting into business at UTS, which is, which is a good degree. And my parents is very big in our culture to be educated. Almost feel like if you don't have a degree or you're nothing.

So I think a big part was pressure getting in. And I thought, why don't I balance both? So that's when it started full-time work. And then full-time university sales working from nine to five.

Been going to the campus from six to nine. So you can see why it didn't work out for too long. Yeah. I can't see.

That's not sustainable for four years. And I had to kind of choose which was more important to me. So I thought, at the time, I'd find something I love I'm passionate about. And this was the same job you got right at the beginning.

You were still there. Yeah. And I was like, let this be a catalyst to do even better at it. So they tried to fire you because they found out your age.

How did you get out of that? Well, I was just like, sit me through a test, you know, like anything anyone else knows here. Ask them. So math questions, lending questions.

What's a variable? What's a fix rate? What's an LVR? They couldn't fault you.

And they couldn't know. Love that. So how long were you in that form? I was in there for about two years.

Okay. I was there, left and came back. Yep. And, but I was there basically.

They're right. Why? Oh, I guess. I was very ambitious.

I was trying to work two jobs at once. And it was just pretty that way. It wasn't necessarily working out. So you know, this is a thing now, right?

Because of remote working since COVID. There are so many people doing two jobs without the other person knowing. And it's become, I mean, it's, it's, it's not so prevalent now. But for a couple of years after COVID, there were so many people pretending to work full time in two jobs, but doing them both at home.

So you would have been that person. Luckily, it was pre-COVID. So you couldn't do it. Exactly.

Yeah. Okay. So what was the other job you were trying to do at the same time? That was commercial breaking.

So, cause you're doing residential here and commercial here. Commercial then. That's what they didn't like. That's shit.

And obviously now looking back, I'm like, I would have hate to have hired myself as well. You know, good. So do you put in one place? You make sure everyone's five days in your office.

It works for you. Exactly. So, um, so you went back. Um, and then obviously what, what made you move on from that was another opportunity popped up.

Or again, I'm guessing it's your driving ambition. But yeah. It was, it was during the role commission. So a lot of brokers got, you know, there was a lot of issues at the time.

And it got very hard and no one was wanting to do a home wine during the role commission. Cause we thought the broken industry might be abolished. So at that time, I just knew I loved finance. I was very interested in it.

You know, um, finance worked and everything. So I was lucky enough to get a job then in a stock broken firm. And that's when things even got better for me. How?

Before you go into it, how? Cause there's a million mortgage brokers who would love to be a stock broker. That is not an easy transition. I think what something I've always done, even from that first job was just apply for thousands of jobs.

I think people hate people. Yeah. A lot of people talk to me now. They're like, oh, this job caption looks good.

Should I apply? And in my head, I'm like, I'll apply for a hundred. I'll be happy if one even wants to do a phone call with me. You know what I mean?

So it was just, it was just this numbers game of really putting myself out there. And I was like, surely one person will meet with me. And then that one person might give me a crown. Yeah.

And that happened. And it was a lot like that. So you went and became a stock broker. Yeah.

And now looking back, I mean, hiring myself, I drive is everything. And if someone's willing to reach out to show you that going to work the hours, work the extra hours, in the field like stock breaking, which is predominantly sales, like the hardest worker and the most persistent goes the furthest. I think in most industries. But yeah.

So you didn't like stock breaking? No, I was really good at it. So why did you go back? So why don't I go back to stock breaking?

No. So why did you not stay in stock breaking? So you obviously back in stock. Yeah.

So I didn't want to, I grew up the lending book like my clients. So when I went to stock breaking, again, that was something else I was still doing on the side. Right. Even though I was, by the second time I was the, I was the best person on the sales desk.

And that's when I found my calling because mortgage breaking is very relationship, slow process admin. Stock breaking is your ability to get on the phone, talk to someone and convince them to take action. And I realized that was what I was best. I was better high for pace, quick turnaround.

I didn't have the patience to talk to someone about this today and reduce something in a week. The ability that in five minutes, it's up to me whether they buy or sell something. I was like, that's when I found my calling. But why that one, unfortunately, ended was I was doing my mortgage breaking on the side.

So again, they found out about that. Didn't like it. There's a pattern. There's a pattern here.

And then eventually the, you know, the business starts. And that's when I was doing it all myself. And no one could tell me, oh, we don't like you doing mortgage breaking and stock. So you got fired from stock breaking and that's when you started commanding.

Then I went to, I ran a, I ran the Australian sales team for a FinTech called Quick Feed. I know. It's like a buy now, pay later for lawyers and accountants. So I was basically that a sales team here.

I was running the sales operation in Australia. They were okay with me doing the lending. So you mentioned it this time because you thought maybe I should bring it up. Yeah.

Yeah. Yeah. Yeah. That one, I guess it was just during COVID.

I was more, much more passionate about it. And I think they understood that with my time, I rather spend there and broke off that way. Okay. And then from there.

And then that became commanding company, which was meant to be just a mortgage breaking. But then my friend allowed me to become a corporate authorised rep of a stock broke. I remember. So you did tell me this.

So then I remember he was doing it up. He was raising capital for an IPO and I remember getting on the phone. 15 minutes, the client said, I'll invest $10,000. I was like, wow, that was that easy.

So then I incorporated stock broke. And it was funny. It was a mortgage-breaking stock-breaking firm commanding capital when it started. So very strange.

You can imagine if you're talking to a client about their home line, you're like, by the way, do you want to invest? Yeah. Since I saved you money on the deposit, do you want to put that spare 20 grand into? Exactly.

Yeah. Yeah. And it's funny. We covered all that.

But that's that's only the start of where the business was apart. With that, I traveled to America with it. And then came back and got rid of the whole stock breaking. I'm sold that to someone else and just now it's predominantly focusing on the property which we spoke about today, which is the lending all the way to the acquisition.

The equity side was too volatile. Yeah. Well, look at the thing about being in it now. She's madness.

Yeah. Okay. And now I obviously, you're a pillars member, which is how we first met. And there is a rumor at pillars about you.

Don't look at anyone else. Forget the crew. No, I can help you. And it could be, it might not be true.

But I thought this would be the perfect time to bring it up. Let's go. Let's see. Did you used to be a model?

I am that you did some modeling at some periods throughout your life. Well, you weren't doing a million other five. Maybe that was one of the other things that I was trying to make money from. But you did a little bit of modeling.

Yeah. See, we didn't bring that up. I think it's too modest. I think that's, you know, like you said, you did do this earlier.

So, you know, I thought I should bring it up. No, you got me all right. So it's true. That's true.

Well, that's good. That's good to know. I wonder who's saying this. I couldn't possibly tell you.

I wonder where they're stalking me. I mean, well, yeah, I mean, it's good to know I've got people looking me up. I mean, that's funny. So you must be causing a stir.

I don't know who started it. I wouldn't want to comment. But yeah, interesting. I don't, don't Google my name for anyone watching.

Unless you do. So you've grown up in an era of online. You see, when I was 20s, there was no online, right? So nothing overrided is online, but everything.

Your whole life's there. No, no, no. Yeah, I feel sorry for my children on that as well. Okay.

I guess I'm intrigued to know. Look, it's a really interesting journey. I love the drive. And that's obviously what's pushed you.

I love the fact that you've had side hustles all the way along. And obviously that's also what's pushed you. But it's also been you're downfall. But I guess it hasn't because look where you've ended up.

And you can only end up where you are by going to the journey you went on, right? And all the things that you've done, I guess, where was the aha moment around what you're doing now? Because you said the way you described it to me earlier is interesting. For me, I think founders have become their most successful when they start to think about their customer as opposed to themselves.

So when you're an employee, you tend to think about your own earnings if you're in sales roles, right? It's all about your commission. However, as a business owner, as you said, you were successful at it. Why not teach other people to do it?

So you flipped it, right? It wasn't so much about, okay, this is how much money I can make. This is me becoming financial free. It's like, how can I help other people do that?

And that I think is probably the secret to your success because you're creating a service now for other people as opposed to just making money. And there's a difference. In the way that you come across, in your mindset, when do you think that moment hit you? You're 100% right.

That is essentially what changed things. Especially younger days, it was like, how can I make the most money? How can I make the most money? But then I remember it was actually talking to you and you said one thing that when you spoke to Billionaires, one comment they told you is their success is their ability.

How many others they've bought up with them? And I think that was you were one of the first people that said something like that and it really sat with me. So thank you for that. Oh, well, there you go.

Gosh, you make me all shine. It's just such an emotional episode. But you're exactly right. And I think that is 100% right.

If you're able to make other people wealthy, you know, you and the process will also become wealthier. So it was less about how do I make myself the most wealthiest person? More about how can I make my clients as wealthy as possible? So the more and more I did that and the more value I added to them and try to take as much knowledge I used to make my portfolio to help them grow theirs.

And that's essentially where we are today. Cool. Well, you've slipped very quickly and easily into the role of a founder. And being a founder is very different to being a salesperson.

Because there's so much more to running a business than there is about just selling the product and even helping your customers. How have you found that transition? Because I've obviously watched you go through this journey and you seem to be very comfortable in it. And a lot of founders struggle with it takes them a while to take on the responsibility of employees and ultimately you responsible for there as we've just talked about, you know, their earnings but also their families and all those other things and your customers.

As a founder, you have a lot of responsibility and you have a lot of things to do. You've always been good a lot of things to do. That's evident from the stories you just told us. But how did you find that transition?

Was it seamless for you? Did you struggle with it? Have you tried to do a lot of learning about it? Because I think there's got a lot of people going to go through that journey in the next few years.

As AI removes a lot of jobs, I think a lot of people will start their own things. Yeah, exactly. It's very hard as well when you start your own business because suddenly you're dealing with your money. Yeah.

It's never yours. It's investors. It's shareholders. So with starting my own business, and obviously being so frugal, it was always so hard.

It was like, everyone was like, you've got to hire. You've got to hire. But I'm like, wow. Someone salary is going to cost me this much.

Terrifying, isn't it? Exactly. So for so long I was doing everything myself. I think the reason things became really good the last few years is as soon as I was bringing someone into the business, suddenly I saw growth, brought someone else suddenly brought growth.

And I think, but what was the big reason for that was because I was alone for so long. So I had built the brand, built the infrastructure, really understood the business inside out. So when someone did start, it allowed me to do so. So sometimes people will sometimes spend before they have.

And I think a big part of my success was really waiting until everything was ready, or even beyond ready. And then I would bring in the people to... Product market fit. You found a really solid product market fit.

And you made it repeatable, basically. By someone else. Someone else could do what you do. But that's the key, right?

That's the key to any success of a founder. If someone can't do what you do, you can't really create your business. And I think you probably did that subconsciously. Maybe.

I don't know. We'll see. And what's been the easiest part for you? Like there's always things that shock you when you start a business and there's always things that surprise you.

Oh my God, I thought that was going to be so much harder. Even starting a business, right? That first jump of starting a business for most people is terrifying. And once they've done it, they're like, it wasn't that big a deal at all.

What other things have you experienced as a founder that maybe have come across that way? Yeah, it's a great question you asked that. It's as the saying says, like, there's a lot of things we stress about today, but do you think in 5, 10 years back when you look back is stressful at all? And that in itself should help release some tension.

So I think looking back now, a lot of things potentially are easy, but they aren't easy in the moment. So I guess, I mean, what can I say? I guess a big one is probably back to the employee thing. Like, yep, the time when they start, you're not sure, like, do I keep them?

Do I let go of them? Are they reaching this goal? Am I not doing a good enough job? But I think the biggest thing that I found is, if you give the right people and patients, you've got to give them at least six month window, you'd be surprised between the six and 12 months how much they prove that you should have kept them and given their chance.

And I think, interesting. But that's been a big one for me. What about the view of yourself? Do you see yourself as a leader or a manager?

Because they're quite different things. Yeah, I think it's now that I have the team the biggest they are and we're all in one room. I think I'm learning very quickly. I'm more of a leader not a manager.

I think sometimes the way I try to manage people is maybe like how a previous manager used to manage me. I think management requires a high level of experience knowing people who have done it before. So I definitely think on the leadership side, I've been a lot more valuable because I've always had a vision, always found a way through, always been able to pick up ideas in that. So I feel like I would side with that one.

You've got to get the right people. I think every business needs a leader, right? But sometimes they also need a manager. I'm a terrible manager.

But I think if you hire the right people and you're leading through example, then the management can be led off a little bit because they're self-driven. They have to be ambitious driven like you. I think if you have non-ambitious driven people, which will happen when you get to a scale, you can't have a business of 50 people who are all like that. It's too many A types.

But I think right now, if you have a business that big, you'll have managers then. But yeah, I think you're right. So you're not what I would call unambitious. You're quite the opposite.

What's the future? What's the plans? What do you double down on what you're doing? Do you look at a new product line?

These things go through your head. You've always been someone that's thinking, trying too many things at the same time. Where are you at with your head right now? Someone actually made with the financial plan and today he asked me this question.

So I feel like he's prepped to me. You're ready to go. I feel like next would be to set up a fund. So there's a lot of people that work transactionally.

There's not a lot of people that do a fund. I want to put my own money in that fund show that I put my money where my mouth is. And instead of trying to convince people by this asset, they just put in the fund and then we basically go out and do the buy side ourselves. I think that opens it up to a lot more people as well.

And in their eyes, it de-risks it for them because they don't have to worry about owning property, I guess. Do you need different licenses and things for that? Or have you got all of that? No, no, no.

You've done so many different things surely. So we don't do this for bringing in more. But yes, I do have access to a facility and all that. And I know the right people for that.

So when the time comes, I'll definitely do so. I do just want to grow the track record a little bit more. So the day we do start the fund, it's not a fund with $5 or $10 million. Hopefully we can have over $5,200 million in the fund.

And talk to me about how that works. I understand, obviously, Vince Cavill and all that product of that world that I'm in. I understand that they obviously are a way of coming in into a smaller part without actually buying a property and seeing that. But do you pay out dividends on them?

Because obviously with the bench Cavill fund, you're looking at exit or liquidation event. But with property, do you pay a dividend based off the profits? Do you sometimes sell properties and then pay the house? How does that structure work?

It will be literally like both. Just like a property grows in value and pays in income. We would look to do both. So instead of clients, it wouldn't be like commercial assets that have really good yields.

We would just be trying to pay out. And you left over capital. We'll be trying to do further acquisitions to really grow it. So I think it would be more like there would be a unit price and over time that would grow.

And then they could sell it. But you have a lock-in period, so to speak. And if you sold during that period, there would be a penalty. But after a certain period, you'd be able to sell based off.

Exactly, exactly. And who would buy that? Would you sell that to another retail investor? Or would you be the guys that buy that off the more house?

Yeah, we try to stay away from retail. I think that's the advice we've always got. And from my experience, it's best. Deal with people that are sophisticated and maybe have a minimum 50 or 100,000 dollar investment size.

And yeah, the people would be pillars members. But also potentially institutional investors as we grow a track record. So just pay probably that would be more focused on the profession and you're going to continue to grow your own portfolio. Yeah, so hopefully in a six months time, I have a completely different number to give you.

Do you have a number in your head where you go, you know what, that's just enough. You probably don't want 20,000 properties, for example. I'm mad, but that seems crazy. But is there something that you've always thought would be really good if I had X amount?

Yeah, I've always said once I reach a $10 million portfolio. Right, is in the value of the properties? The value of the properties. So right now it's at seven.

So I think that's good because then at that point, you know, let's say the Australian average is seven percent, then that's $700,000 you make on that portfolio, untouched and it's compounding with leverage. So I feel like once you get there and you can maintain it, then I'm pretty set. So I was trying to get to that before the next six months. So let's see if we can do that.

And do you aim to have the positively, negatively or neutrally geared, or does it not matter? No, that's our big thing. We focus on neutral positive. Because as you can imagine, you can't have $7 million at negative geared.

You'd be bleeding out. You'd be in trouble. So that's one of the things we do differently again is, you know, we do positively geared. So we focus on like block of units where the cash flow is strong.

Or we do, it's very popular at the moment is you buy a house and rent the rooms to individuals. Really? I wouldn't be renting them, but I didn't know. Like essentially what was student accommodation, when I was going out, that was, or in London, obviously you get that a lot in New York.

But I've never seen that here. Yeah, you'd be shocked even in a suburb of its families, a four bedroom house you now can rent the rooms out like this because it's really is real when they talk about the housing shortage right now and the cost of living. People are willing to rent a room for $300 then to get their own one bedroom unit for $600. So interest, you know what?

That would explain why there's so many houses with 15 Uber Eats bikes parked out. Because they're all living there, right? And they're parking there because they're transport out the front. I do wonder.

I sometimes go, there's a lot of Uber Eats going on in there. Or just everyone there works there. Which house do you see this in? I think we should discuss that in the public forum.

But yeah, I'm surprised that's a big big thing. So people are buying a house and then renting out the rooms and probably getting a greater return than if they rented the house out as a single unit, right? Exactly, exactly. And that's what over the six months we've done a lot of.

And, you know, because typically people said, you know, units have good cash flow, houses don't. But with this, you're almost building a kind of a unit within your house. Yeah, I mean, the some houses you could, yeah, that's crazy. How interesting.

So, okay, cool. Now, I'm bringing in a new thing. You're the first person to experience it. So give it an eye just obviously you show about people giving it a night.

Which I think is fair to say you have done. At the end of this, I always want to give them an opportunity to ask me something which is not something we've ever, ever done before. Okay. And why I've chosen you knowing you so well is madness because you could ask me anything.

I know. And you already asked me lots of questions. I think my brain is going to be alright. You ask me all the questions every time I see it.

I'm always wanting to go shit. Can I do two? No, you're only going shit today. No, that's the one thing we're not doing today.

This is my show. And I will answer it because whenever I go on a podcast, I always say there's nothing off limits. Is there anything you feel you want to ask me right now? Look, you might help me fast things.

What's the hardest lesson you've gone through that you might not necessarily have shared? And a lot of people might not know that it's turned you to become the successful person you are today. What's the heart? I think I probably shared everything.

I've never been one holding back. I don't think there's anything I haven't shared. I think the hardest lesson is it took me a long time to admit my weaknesses a long time. And I'm always someone that doesn't want to make the same mistake twice.

But I have made the same mistake maybe five or six times on a number of occasions. So you could say I'm a slow learner. And I don't think it's that I'm a slow learner. I think it's that for a long time, I'm not now.

But for a long time, particularly in my 30s and maybe early 40s, my ego was too big. Now, you might not have thought that meeting me because I'm not... I don't think I come across that way. But internally, my ego was too big.

I would literally have an internal turmoil telling me that I wasn't wrong about something when I really was. And I probably knew I was, but I would force myself to convince myself I wasn't. I said, feel better. That's probably the biggest thing that...

And that's come with age. I hit my wise 50s. I said you said age. I was hoping I could learn that lessons.

Well, that's me. I'm hoping everyone learns a little bit quicker. Maybe by talking about it now, we've just saved a whole bunch of people a decade of internal turmoil. But yeah, I would think that's it.

It's very easy. It's almost like an addiction. If you think about addicts, whether it's alcohol or cigarettes or vaping or any of those things, people convince themselves that it's okay. They have this turmoil in their head.

They're doing these things, but then they convince themselves. It's okay. Particularly alcoholics, I think, are the best at that. I think that was what's going on with me at myself.

My ego was convincing myself to make myself feel better that I wasn't making these mistakes over and over again. So, yeah, there you go. It takes a lot to admit that. Were you expecting that?

No, it's good. It's good. Thank you so much for coming on. I'm really glad we got your story out.

I'm literally online right now saying, I'm calling from Nima, and looking up all your pictures. Hopefully we'll see them all over the place. Send me your favorite one, everyone. Yeah, please just put them in.

Just send me everyone's favorite one more possible. And I really can't wait to see. I think what you've done is incredible. And I've said this to you.

I'm so impressed with what you've done the last couple of years. And I think the fun's a great idea. So, I wish you the best of luck. And when you do the fun, we'll get you back on.

Definitely. Yeah.