Hopefully the audio is coming through. Good morning team, good morning gang. See how we’re going here. While all your all Facebook Live is warming up. Did a quick intro, morning everybody. Jason Whitton here. Morning Allison, this one’s for you today. Yes, Happy Friyay, Friyay indeed. Love a good Friday. It’s a fun day. Hang out with the kids tonight. It’s pizza night tonight at my house. Pizza and a movie night. Hey, quick intro is Jason Whitton’s my name for those who are joining, morning Megan, for the first time, welcome along. Those coming back, welcome back. Been property investing 20 years, coaching property investors across Australia and New Zealand. I have the right team. Actually, it was interesting. Just pull some figures the other day about how many property deals we’ve helped people do. In our system, it shows that we’ve helped people purchase 10,137 properties over 18 years. I’ll say that again. 10,137 properties over 18 years. Pretty bloody cool. Pretty bloody cool. So yeah, that’s pretty sweet. I love that. So anyway, again, good morning. Morning Philippa, morning Nicole, Alex. Great to see all you guys here. So today I was going to do a little bit of coffee and a chat about furniture. Allison asked yesterday is it worth putting furniture in a property, and positives and negatives to that? So let’s talk it through, furniture packs. Listen, I’m a big fan of furniture packages because for me in the past they have been, I have been able to rent my properties for another, it’s often between 15 and 30% more, depending on the time length that you rent those properties for. Let me sort of explain better. So a good furniture package, not a rubbish furniture package, is pretty, pretty important. You need to make sure you speak to your property manager if you’re going to put a furniture pack in any property. And they number one, the property manager needs to be experienced in letting furnished properties. And number two, you need to ask that property manager, what would you furnish? All right, don’t go over the top. Don’t under furnish, don’t over furnish. Have a chat to a property manager about the furniture that you need to put in there. And often, it’s the big pieces of furniture that you need to put in there. Fridges, dryers, washing machines, microwaves, beds, et cetera, et cetera because there is a little bit of a trend with the sort of the 20s to 30-somethings of they like to be very mobile, and they like to try out lots of different places and areas for living. So their lifestyle, they like to try them out. And so if they only have to come with some suitcases, like they’re moving into a university dorm, and they’re sharing with friends, making that easier, is actually quite rewarding for you as a property investor. So the answer is yes, I love furniture packs. I love furniture packs in the right location, in the right property. Now for me, I’ve found the right location and the right property have been properties close to the CBD, properties close to where multiple people will want to share that apartment together, two or three people together sharing a property because those people they don’t take usually move around with lots of furniture in tow. The location of that property that has been very successful in furnishing. I’ve got some fantastic properties in Brisbane and Melbourne furnished, renting off their chops. But they’re close to the city. They appeal to young mobile, white collar workers let’s say, or students who are studying or a combination or whatever it is. Very good, I love them. It’s fantastic. And like I said, anywhere between 15 to 30% increase in your income. And another advantage of a furniture pack is that you get to write off the value of the furniture literally within two years, like depreciation is massive. It’s fantastic, and I love it. I’ve even in the past, don’t tell anyone this, statute of limitations has passed, I think. Even in the past I have gotten furniture off the side of the road, I don’t know does anyone live in Sydney? And their throw out days? The throw out days are amazing in Sydney. I used to drive around, I used to live in a suburb called Wahroonga in Sydney, and Wahroonga is a very flat place. And I used to drive around Wahroonga in my old car. And I used to pick up furniture that was amazing that people were throwing out from their mansions, and I would grab the furniture. My wife was so embarrassed. She was like so embarrassed, she’d hide in the car. She wouldn’t come driving with me. And I grabbed the furniture, and then I would go and put it in my investment properties and I’d depreciate it. So I’d get free furniture then I’d get tax deductions. How’s that? Crazy. So gang, listen. Throw out days are so good. I take my kids dumpster diving and throw out days still to this day and just teach them about recycling. We actually built, our family, just built a whole, we’ve got a little farm down south, 100 acres. And we built our whole little cabin down there out of fully recycled scavenged materials. And it was awesome. It reminded me of my childhood days when I used to live in a small town, there was no hardware store, no nothing. And you used to have to, the only way you can have stuff to fix things that broke was to go to the rubbish dump. This is a true story, this is not bullshit. We had to go to the rubbish dump and find old stuff, and get the old stuff, and either cut it apart or re-weld it together, or old thrown out stuff from other people, we would grab, and then we would fix broken things because we didn’t have a hardware store. The closest hardware store was two hours away. And we only went to town once every fortnight. So there you go. Anyway, I think I’ve gone off track. This was meant to be about furniture. So I’m a big fan of furnishing properties in the right location. Big fan. Let’s talk about the downside of furnishing. The downside of furnishing is this, number one, yeah exactly, Nicole, with the bikes. The downside of furnishing is this, number one. It’s going to cost you cash money from somewhere. You can’t include it in the price of the property. You can’t borrow it. You can take it out of your equity, out of your home, or something you redraw, but it’s probably going to cost you between 15 and $25,000 to furnish something very nicely. So don’t skimp on it. So it is going to cost you money and you can’t borrow that money technically, as part of the purchase price of the property. Number two, it does take, I wouldn’t call it a specialist specialist, but it does take an experienced property manager to let that type of property. So not every property manager is capable of letting a furnished property. It’s just not their skillset or not their experience. So make sure you get the right agent who understands, who they’re letting those properties to, and how to get them let. That’s important because often if you make it difficult for an agent, your property won’t rent, or you won’t get the highest income for it. And you’re like, why, what happened? Because one of the agent around the corner, et cetera, et cetera. So there you go. And number three, probably the one that is kind of the downside, which is annoying, what happens when you can’t furnish it, and then you want to turn it back to long term unfurnished rental? Well, you’ve either got to sell the furniture or you got to store it somewhere. And then you kind of, then it’s kind of counterproductive. You go and store it somewhere for 15, 20, 50 bucks a month and now it starts to eat into your cashflow. So there’s some upside. I love the upside. I don’t have any issues with storage if I need to because I can just chuck it at my farm, but a lot of people don’t have that choice. We’re storing stuff for a furnished property. Absolutely, Allison, chat to the Aria team about letting a furnished apartment. Now often, a three to six month letting cycle for a furnished apartment gives you that optimal high cashflow. So six month kind of gives people the chance to get in and get out. So but you’ve got to make sure that that works for you as a property owner. So I sort of try and aim between the six and 12 month. I had a long term tenant up in one of my Brisbane ones. It was a doctor, they were on to the hospital and it was a nice one bedder furnished apartment, they loved it. And they just did it a full 12 month lease fully furnished, which was awesome. So you never know. They can be a little bit lumpy for letting, so they can be vacant for a little bit longer. So just to understand that, gang, as we go. Yeah, Brahman, I reckon. I reckon you’d be in for a good improvement in your rent in the Windsor, for sure. So reach out to the Richardson ranch team in Brizzy, and talk to them about it, Brahman, because it’s close to the hospital, that’s like the biggest hospital in Brisbane. And professionals, nurses, doctors, all sorts of even, yeah even people staying at the hospital, et cetera, et cetera, with people who are sick, they need somewhere to stay as well sometimes. So and I’m not talking about Airbnb gang, I’m not talking about short term Airbnb letting, I’m talking about regular residential letting, but with furniture. Because I think that is kind of the sweet spot for those who don’t like the sort of the up and down risk of something like Airbnb, and the high intensity of really short term letting, like two or three days at a time. So by and large, I’m a big fan of it, but don’t underestimate the downside. It can be a bit annoying, be prepared for that as you go, and have a good chat to your property manager whether it’s going to be right for you. So I think that made sense this morning, hope it did, gang. A good conversation. Carolyn, I would say Bellbird Park is too far out. It is a bit far away. Yeah and listen, Matt brings up a really good point there, he put a fridge, a washer, and a dryer in. Now sometimes it’s not like the whole house, sometimes it’s just a couple of bits. You bring up an excellent point, Matt. I used to do just put in a washing machine and a microwave oven, microwave, and charge an extra 10 bucks. So there you go, gang, and you get good depreciation. So great chat this morning. This is the nuance. Imagine earning an extra 20, $30 a week for your property. You get the depreciation 100% deductible all the way back, the whole thing, 100% deductible within two years. And away you go, yes. Roman, that is one of those little extra excellent ways of using your property for self-use, as well as getting some income going on then. Sam and I used to do that on one of our properties up in Brisbane. But then the body corporate said we couldn’t do short term letting anymore, as in like three nights and four nights at a time. But yeah, that’s a good one, absolutely, you can do that for sure. There you go. Anyway, gang, hopefully that makes sense. For all of those of you who are in mentoring, reach out to your coaches and have a bit of a chat about just talking through the strategy, making sure you do the numbers, and get it right. If you’re not in mentoring, if you don’t have a coach, well, you need one. And that’s what we do. So if you need some coaching, you need some support, you need some help, then reach out. Send me a direct message here if you want. I’m happy to help you, happy to have a chat about what it might take to get some coaching, and really take your investing to the next level. A bit of a shout out, gang, for tonight, wine and wisdom is on tonight. We’ve renamed it, wealth, wine, and wisdom, just so you guys know we’ve added an extra w, rounded it out a bit. So join us again tonight, myself and Andy Fenton talking all things property and all things, stock market, the two behemoths collide, and we’re debriefing the week. We meet every Friday, four o’clock Queensland time, five o’clock everywhere else. And I don’t know about SA and WA, but you guys can work it out. Join us for wine and wisdom. We debrief the whole week, the marketplaces, and make sure we’re all keeping an eye on things, and have a good chat and a bit of a yam. So all good, gang. That’s it from me, coffee and a chat, done and dusted. Have an awesome weekend. And join me again on Monday next week for another coffee and a chat roundabout eight o’clock. All right, gang, hope you’re all well. Have an awesome one. Join me tonight, four o’clock, five o’clock, wine and wisdom if you’re there. All right, adios, bye.