Property Hub - Investment Insights & Inspiration - Get Invested: Part 2 - Skye Taylor on removing the limits in property and life

Episode Date: March 14, 2025

How do you consider value versus cost, as a property investor? Skye Taylor joins us to discuss. Cost is what you pay, value is what you get.  Many investors get stuck on the numbers alone and miss main point. This is especially so when it comes to property management.  The most important person in your property team is the best local independent property manager in the area you are looking to buy, and yet many numbers get spooked by costs and go for DIY management - not understanding that this approach could cost you dearly in the long run.  To talk about this and much more, Skye Taylor is back on the show.  Skye is a 20 year property veteran who has gone from buyer’s agent and sales agent to boutique Property Management business owner. Enjoy the episode. Connect with Skye https://www.tayloredproperty.com.au Find your Freedom Formula Success in property starts with your 'why', and then the 'what' and 'how'. Let me, Bushy Martin, lead you through it! Sign up for my Freedom Formula program. The first session is absolutely free, and it only takes around an hour! Find out more https://bushymartin.com.au/freedom-formula-course Subscribe to Property Hub for free now on your favourite podcast player. Take the next step - connect, engage and get more insights with the Property Hub community at linktr.ee/propertyhubau Book a personal solutions session with Bushy to go deeper on your specific property needs or challenges Continue the discussion with likeminded investors and experts on The Property Hub Collective Facebook group Get a copy of Bushy's book, Get Invested, for FREE, and find out what it takes for you to invest in living more, working less Get all Property Hub info here linktr.ee/propertyhubau About Get Invested, a Property Hub show Get Invested is the leading weekly podcast for Australians who want to learn how to unlock their full ‘self, health and wealth’ potential. Hosted by Bushy Martin, an award winning property investor, founder, author and media commentator who is recognised as one of Australia’s most trusted experts in property, investment and lifestyle, Get Invested reveals the secrets of the high performers who invest for success in every aspect of their lives and the world around them. Subscribe now on Apple Podcasts, Spotify and YouTube to get every Get Invested episode each week for free. For business enquiries, email [e-mail] omnystudio.com/listener for privacy information.

There are different models of property management. So I do what's called end-to-end. So I do everything from finding the tenant to, at the very end, doing the final inspection and processing the bond. I'm doing everything in between. Whereas there are some offices that will outsource certain tasks. They might have a leasing manager. They might have a routine inspection manager.

And while I'm not opposed to that model per se, I have seen the problems it can cause as opposed to an end-to-end service. Welcome to Get Invested on the Property Hub podcast channel, the leading weekly show for Australians who want to learn how to unlock their full self, health and wealth potential. I'm your host, Bushy Martin, and each week I go deep with the best investors, experts, leaders and founders to find out what it takes to break free from the grind, discover freedom and to live by design. Subscribe now and join me and get invested in the life that you really want. Let's get started. Hi, Freedom Fighters. Who's the most important person in your property team? You know, the proven professional that will have the most

enduring impact and influence on your property's performance. Is it your property strategist, your broker, or maybe a buyer's agent? Well, if you've been listening to me for any length of time you'll already know that I believe strongly that the most important person in your property team is the best local independent property manager in the area that you're looking to buy and I reinforce the best local independent property manager what do I mean by this well let me break it down firstly your property manager needs to be local this means they lived and breathe the area for a number of years and they have specialised experience managing similar properties of the type that you're looking to buy within a max of 20 to 30 odd minute drive from

their office. So beware of property managers who say that they'll manage any property anywhere and I'll let you know why about this in a minute. Secondly they need to be totally independent which means they're a dedicated property management business only that only does property management and is not attached to a sales office or part of any other property professional like a buyer's agency or sales team. They don't buy properties, they just do the end-to-end property management. Why is this independence important? Because you don't want them being influenced or affected by other players in the game so that they can then give you total, honest, transparent and objective advice that is solely in your best interests and personalised for your

specific situation, needs and circumstance. In this way, they act as an arm's length validator to ensure that you're getting specialist local advice and insights that you can then use to cross-reference and confirm or otherwise what you might be hearing from sales agents or buyers agents who actually have a vested interest in pushing a property purchase. In other words, they keep everyone else honest and are the true source of truth. Now there's a lot more to selecting the best local independent property manager which our returning guest Scott Sky Taylor is going to break down for us in part two of our deep dive shortly and it's also important to reinforce you don't just reach out and get the cheapest property manager to just collect the rent

after you've bought the property. Like many sadly investors wrongly assume you need to be engaging the best local independent property manager as early in your property process as possible. So as soon as you're clear on your investment strategy and your purchase price power from your investment specialist broker has been confirmed and you know what type of property you're looking to buy in what location, then your first call needs to be to the best local independent property manager in the area. Why? Because they're your best source of intimate local knowledge so they can help you assess how a particular property and precinct compares to others in the location. They know the history of an area and the property along with the

local perceptions of an area. A sentiment will have a significant impact on property growth performance over and above remote desktop data. And the property manager will know exactly what the local tenant demographics are and aren't in terms of what they're looking for in a property along with knowing the ins and outs of a local tenancy legislation in terms of what you can and can't do and exactly what and when you need to do in order to protect yourself when issues inevitably arise. They're also your local informed eyes and ears

when it comes to inspecting a property in the surrounding area. So they need to be an important pivotal part of your detailed property due diligence as a great property manager will give it to you straight because they don't want to end up managing a problem property because it's going to become their problem. So a great property manager is more of an overall investment manager as they will oversee and coordinate all aspects of your property

like a mini business manager and they're also your local go-to air traffic controllers as they know who's who in the zoo and who and when is best to help you in terms of reliable local maintenance trades and other specialist assistance. So perhaps now you're starting to get a better understanding of why I think that the best local independent property manager is the most important influential player in your property's performance.

But how do you know how to finance like the best local independent property manager, given there are generally lots operating in a particular area? Well, again, this is where today's returning guest is going to come to your rescue. Because property management selection is definitely not just about lowest cost. Yet, this is what many ill-informed investors think. as they wrongly assume that all property managers are the same and they do the same thing, so the only differentiator is cost. But this is a massive mistake that will end up costing you a lot more, because cost is just the tip of the iceberg.

Now, you've all heard the old saying that cost is what you pay but value is what you get, and this is never truer than in the world of property management. It's like the old story about there being three main types of services, where there's a good service, a fast service and a cheap service but you can only ever have two out of three. So you can have a cheap service fast but it won't be good or you can have a good service cheap but it won't be fast and you can have a good service fast but it won't be cheap. Now a lot of investors wrongly think that they just need to go for a cheap property management service that may be quick and dirty, but they forget or ignore that it's unlikely to be good. And this approach

will end up costing you a lot more money at risk in the long term. And the crazy thing, as my wife Sonia always used to say when she used to own and run a very successful B-Tech property management business some years ago, is that the difference between a cheap property management service at, say, 6% of rent versus a higher fixed fee rate of 11%, generally only amounts to the cost of a couple of cups of coffee a week. So if you're prepared to put your biggest and most important property at risk for the cost of a few cups of coffee, as you focus on cost rather than value, then you're likely to get what you deserve. So good luck with that. Now, I can hear you saying, but why do I have to pay a percentage of the rent for property management

when the property manager is essentially doing the same job, whether the rent's 500 bucks a week or $700 a week? Well, what if there's another potential way that better links property management to price and also has a potential to reward landlord loyalty? Well, our special returning guest, Sky Taylor, is going to reveal and unpack all of this and more in the second part of our great conversation that deep dives on all things that you really need to know about property management above and beyond the ordinary. As Sky is a 20-year property veteran who's transition from buyer's agent to sales agent to property management as the business owner of her boutique and cleverly titled Tailored Property Management in my good old hometown of Adelaide.

So welcome back and let's get invested again, Scott. Thanks for having me, Bushy. It's great to be here. Now, we're going to be deep diving on a subject that's close to both of our hearts, as I guess I've already revealed my cards in that regard. But I guess to set the scene, We talked a lot about your personal journey last week, but kick us off by telling us a bit about why you established Tailored Property Management, as well as what's unique about it and what you do differently to other property managers. So I had been working, I guess, in some larger agencies and I was hearing the same problems from landlords, things like, you're the seventh property manager I've had in 12 months.

and just the general frustration that goes with that when there is a churn of property managers time and time again like it sounds like a very simple problem but it has far-reaching effects so my business I do everything end to end I'm not looking for a better job elsewhere this is my business I'm not going anywhere can provide landlords with a lot of security and the The difference is, as it's my business, I genuinely care about their outcomes, whereas as an employee, the outcomes matter a lot less to you because you get paid regardless of the client's outcome, whereas my client's outcome is directly tied to my success. So I am very motivated for all of my clients to succeed and buy more property.

Yeah, I love that. And a lot of people listening may not be aware, but the average life of a property manager in the major offices, about six months, would you believe? And it's actually getting worse because of the burnout factor. You know, a lot of, particularly property management businesses that are attached to a sales office, they're under-resourced, they're under-staffed, so they're managing way too nearly. They're appreciated.

Yeah, exactly. The respect's not there. So it's no wonder that given the stress, because everything you're dealing with is a problem that you're needing to solve. So it's no surprise that those issues are occurring, but I can see why tailored property management really overcomes a lot of that consistency issues and the level of care that you spoke about that you're applying to

because if your landlords succeed, so do you. So I love that. On a similar topic, Skye, what common mistakes do you see investors making when it comes to property management? I think the biggest one is what you alluded to in the intro, that there's an assumption that we're all the same. And while we perform the same service, we're definitely not. So understanding who your property manager is rather than shopping.

And if we take the fees out of it, understanding how your property manager operates, how their business operates, is a great way to determine whether they're a good fit for you because every investor I meet is different. some of them don't want to be bothered others want to be involved every step of the way so um if you're looking for perhaps that deeper level of involvement then certainly um having the understanding of how your property manager is operating what the communication's like what the future journey looks like and i think people just don't know what questions to ask and so they're just asking on fees because they don't know what else to find out. There are

different models of property management. So I do what's called end-to-end. So I do everything from finding the tenant to at the very end, doing the final inspection and processing the bond. I'm doing everything in between. Whereas there are some offices that will outsource certain tasks. They might have a leasing manager. They might have a routine inspection manager. And while I'm not opposed to that model per se, I have seen the problems it can cause as opposed to an end-to-end service. I think since COVID, a lot of people's expectations have changed. We want everything now and we want a higher level of service. And I think that that's probably where the industry needs to shift.

That volume isn't necessarily the be-all and end-all. 100% agree. I mean, I think the, you know, from a, you're sort of singing my tune because my good wife, Sonia, she ran a, what's called the, you know, the portfolio style where one person managed the whole process from end to end. And therefore the landlord only had one person they need to talk to. There's one point of accountability, whereas the task-based or pod-based exercise, as the industry term goes, there's every time you add a link in the chain, there's an opportunity for something to fall through the cracks. and you get the old, well, it wasn't me, it was them routine going on. Bioship? Yeah.

I know that a lot of property management business are doing it because financially they think that it's going to be better off and it also desensitises them to the fact that if a property manager leaves, then you're not left with this massive hole that you need to fill. But in the interim, the loser is actually the landlord because they are having to deal with multiple people. you know the baton pass is always where the issues occur in any any exercise and the more links you've got in that chain the bigger opportunity there is that there are going to

be problems that that occur that way so I love the fact that you follow that end-to-end approach it means you've got total ownership over the process and you really understand the property the landlord the tenants you really you're right at the nub of everything that's going on around that and therefore much better place to be able to respond when and if queries, questions and issues arise. So I love that. I guess jumping beyond that and I guess leveraging off that a little bit, Skye, are there any other property management ideas or approaches that so-called experts in the field talk about that you disagree with or do differently? uh certainly i do offer different fee packages um you alluded to that in the intro

for the same reason that every investor is different um ultimately the outcome is the same i still need to be a profitable business but there are different approaches that i can take so for example I offer an all-inclusive fee because that is preferable to some people who prefer the consistency around their cash flow as opposed to for example the start of a tenancy can be expensive for a landlord because that's where a lot of the work is whereas this spreads it out across the year and it's just a bit more palatable for those who prefer that and I also do a fixed fee model which you had uh touched on um and i offer i guess a loyalty reward for those that go down that path that in signing on for a longer term with me then it can be more financially

viable for them it's brilliant i love the approach because i think it's it's much more open and transparent it's free as long as that's enough for you to sustain the business because you know you need to be then you need to be profitable to continue to service landlords and no one's going to argue to toss on that but i think a lot of people would see the merits in what you're suggesting because you know as i had led to in the intro where if the rent's 500 or 700 the job's not much different unless there's something peculiar about a particular property that goes with that but if they can lock into a fixed fee and they know what their their cost is then it also eliminates the fear around what it does then if the rent goes up for example so

there's a whole heap of flow-ons from there and I love the loyalty aspect that's good for them and good for you because if you're embedding your relationship for you know two three years and beyond then you're both both basically saying that you like each other you're going to work with each other and you're going to get a better result for everyone as a consequence of taking that approach so i love the transparency that goes with that and it's it's uh i haven't come across uh and i talked a lot of property managers i haven't come across others that have adopted that sort of a a approach so um full respect on that one uh love that uh going going beyond that then sky uh i know that's something else that you uh are delving into and it's and again i alluded

to this in my intro is that you're getting much more heavily involved in the property search process using what you described as property profiling. Can you sort of expand on that a bit? Because I think that's a growing need and an area that a lot of investors aren't recognising the benefits that you bring to the table in that in terms of assisting them right up front and early identifying the right location and the right type of property to suit their particular needs. Can you can you give us a rundown on that course yeah absolutely um i'd like to take credit for it but um it was sort of started by another property manager in western australia my friend ashley goodchild and i've been through her course and i guess learned the basics of

property profiling as ash speaks to those um and it's something that i wanted to bring into my business on that education side. So what that might look like is an investor will get in touch with me. They're looking to purchase in South Australia. The most recent one that I had, he had a loose idea of where he wanted to buy and which suburbs. And so we spoke at length about where I see different suburbs performing better. But he did the bulk of the research. So he would send me properties and say, hey, what's your opinion or what rent can I get? And then further from that, as he drilled down on his search, I would either say to him, hey, this isn't a good purchase for this reason. And then I would go out and actually inspect the properties on his behalf.

I sent him videos. I give him my summary. And I actually ended up bidding on his behalf at auction to purchase his property and I am now managing that property for him so really it's a benefit for me that I get to develop these relationships with investors which is why I'm happy to do it but also a lot of the time I'm coming into the process when I speak to an investor and they're like hey I've bought a property I need a property manager and then I go in and I see the property we need to do this we need to do that oh that's a problem um as an example the biggest thing i see when people are buying an investment property and let's say for example the vendor that it's been own occupied and they move out and then i'm coming in to try and rent this property out

and the standard of cleanliness that's been provided at settlement is not the same standard that i need for property management and this then can create a flaw in effect of i might have rented it prior to settlement so we've got a tenant ready to go the vendor hasn't left in a clean state and now i've got a problem with my tenant and that sets the whole tenancy off on the downward trajectory so when i'm coming in prior to that i'm saying hey we need to schedule in a cleaner because it's not going to be where it needs to be and we're just constantly in front of whatever pitfalls we can have when i'm involved early on in the process yeah i love it i yet i know in our own know how business so even when a client engages a buyer's agent we still make sure the investor works

closely with an independent local property manager to keep the buyer's agent honest and to identify things that that the average person's not going to see so and and we can budget for it and as long as we know about it then we can provision for it but we're going in with all eyes open and there's no surprises once you get the keys which is often which is what you've just described and the other massive benefit i think is that you know a lot of buyers agents in particular particularly the national ones that that have a borderless footprint they tend to focus too much on the desktop data whereas the local perceptions and the sentiment has a massive impact on the perception of that area and that property and that in itself is something that will have a fairly major influence

on how that property performs and and a buyer's agent is not going to know that because if you don't live there and you're not talking about it around the dinner table and and get a sense of the good bad and the ugly of of locations and property types then you're not going to find that out until way too late so uh so i love that you're doing it and i think for that reason regardless of the situation and in fact more so if there's a buyer's agent involved then a independent dedicated property manager needs to be involved up front and early just as that extra insurance policy to keep everyone honest in the process so so i love that uh i really appreciate you um uh sharing that that with us uh going beyond that because i just want to dive a little bit deeper into what

I touched on in the intro as well, Skye, in terms of what does a landlord need to actually consider and compare when looking to engage a rate property manager as opposed to the average? Other than understanding how the business operates, the end-to-end versus pod model, I think they need to understand the level of communication they're going to get. So asking questions around you know what's your process if my tenant stops paying rent you know what are you going to do as a property manager to let me know that there's trouble left um things around even as simple as you know what happens when someone's on annual leave or when someone is sick um what's your plan for that because a lot of agencies

don't have a plan um and that's when things fall down um you know and understanding and asking for an example of can you show me you know what your routine inspection report looks like can you show me what your entry condition report looks like because i would have no hesitation in sharing examples with people because i know that they are detailed and they're thorough and i'm not missing anything yeah um i've managed properties in other agencies before that you know the entry condition report for example didn't have any photos that's leaving the landlord exposed to some very big costs at the end if the tenant does the wrong thing so understanding how that business actually performs those tasks because yes we all do the same thing but we all do them slightly differently

so trying to understand what that looks like for you to minimize your risk because there are risks in property investing and you need a partner who will manage those for you totally agree i've always say sky it's not a matter of if it's just a matter of when something is going to occur so go in with your eyes open and expect it and then just make sure you've got the right people looking after you when the inevitable occurs. And I'm sort of going to let the cat out of the bag a little bit here because I know you're making a special offer for Get Invested listeners who respond under the Property Hub to share with them some

of the key questions or an interview guide that helps investors to identify and then engage the best property manager. But can you sort of whet our appetite a bit with some of the other key questions that landlords need to ask, potential property managers when deciding who to select? Absolutely like one of the questions is I guess in understanding your chosen property manager who that's going to be like what's their level of experience have they attended tribunal on what basis have they attended tribunal like have they been to tribunal because they're not very good at their job or have they been because

they had sufficient reasons can they give an example of a case so understanding things like that because as you say it's not a matter of if it's a matter of when and it's not just about finding the right tenant because life and circumstances change you can have an amazing tenant things go wrong um so understanding um exactly what that looks like when things go wrong and understanding how often will the communication happen through each stage in the journey. Is your property manager going to put together a marketing strategy for you when you're on the market?

Will you be kept informed of that? What does that look like? There's a lot of questions that I've put together in an interview guide and it's a Word document so people can edit it as they're having these conversations and understanding what they're getting but what they're paying for so they understand the value and where fee is really the last thing you need to be asking.

I love it. I mean, I've gone through that interview guide that you kindly shared with me and it's a terrific document because it really gives you a framework to be able to assess what's important and then therefore what questions to ask. But also, given that you've also filled out what Taylor does, you've got a benchmark.

There's a benchmark there. There is. There is, which I love that. I think that's a great approach because that really gives them the information but also the confidence to be able to actually ask questions and know what the right answer should be. Because, you know, there's no point asking a question if you don't know what it means.

So I think that's a brilliant document. So we'll talk a bit more when we close. But something that I also want to delve into, because let's face it, South Australia is now top of the pops. It's actually just surpassed WA in terms of growth ongoing. And while the growth is slowing around the country, South Australia continues to do well. given that a lot of investors are increasingly borderless and they're buying properties unseen interstate using professionals to do it can you briefly share from your experience what differs about buying or managing an investment property in South Australia compared to

some of the other states and probably particularly with the eastern states because there's a lot more eastern staters that are grabbing properties in there so can you sort of draw attention to a couple that they may or may not be aware of i think um and i've said it for years but south australia has always been a steady consistent performer as opposed to um definitely the eastern states you have these peaks and troughs and it's just a little you know just keeps going like and there's just no um nothing crazy that happens here it is obviously a little bit crazy at the moment but I don't think we're going to have the highs and the lows that other states have had so it's a very consistent performer it's also the same on the rent side

it's very consistent we certainly have areas that will perform better than others um but it's generally considered a very affordable place to live um and that's what has previously attracted people to move here from, you know, people coming from other countries, other states. They're coming here for the lifestyle and the affordability that South Australia has to offer. Yeah, up until recently, I've been saying for years that Adelaide's the best kept secret in the country

and it was a bit like the Stephen Bradbury of property because, you know, that ice skater who ended up winning because everyone else fell over on the runt of it, it's blind. Exactly, yeah. That's sort of been – that's changed quite a bit in recent times. But I know that South Australia, like a lot of other states, has been through some fairly significant rental reforms in recent times. So what impact is that having, if any, and what else may be coming up

that may influence particularly landlords in the relation to investment properties? i think the reforms are going to be over a number of years that will see that impact what i'm seeing currently is that it's negatively impacting on landlords and tenants in a couple of ways the biggest issue i think is the the lifelong tenancy side that we can only end a fixed term tenancy for very limited reasons so this i guess was designed to protect tenants but i'm seeing landlords be far more cautious in their tenant selection because they're stuck with them if they make the wrong decision so in this for some tenants who don't have rental history they're

finding it very difficult to get a rental property because the landlords won't take the risk because they're not taking a 12-month risk they're taking a but 10-year risk exactly um so it's it's a very negative on that side and so those limitations um for landlords are challenging um and then the purposes around ending a tenancy are still proving to be very difficult for investors um because as their circumstances change they're being limited by these reforms so i'm not seeing people sell up and get out of property investing but right now it's a frustration point of what do you mean i can't do this with my property it's my property yeah is it and so we're constantly being the bearer of bad news at the moment um as we navigate it but i just don't see that it's

benefiting tenants overall either no i don't think anyone's winning to be honest uh from from your experience and your perspective uh what do you think really needs to change to improve conditions for everyone involved i mean i i speak to tenants all the time that even think that this fixed term life tenancy situation is crazy um that you know you can't end a tenancy because what's the point in having a fixed date if it doesn't mean the end um i'm finding that Tenants are still wanting a fixed term for security because they're still not quite all up to speed with the changes. So they feel more secure with a fixed term

and there's a benefit for investors in having that consistency. And certainly if the tenant were to break the lease, it's better for the investor to have a fixed term than a periodic. But I think they seem to have rolled these reforms out, not just in South Australia, but nationally with very little notice. yep there's no um a lot of the terms can be quite contradictory no one seems to know what the answer is until we're we're actually testing these cases um because it's interpretation um so i think they they certainly rolled out a lot of reforms all at once more time would have been

better um for everyone to get up to speed and a bit of a grace period um for people to adapt to that would have been a good change um but it seems to have just gone too far in one direction yeah um certainly there needed to be some changes 1995 was our act it needed a review but um it's just too extreme so softening some of that would be great yeah it's a interesting exercise because once the legislation is in place it's pretty hard to walk back from and and as you as you pointed out uh it's the interpretation of the legislation uh by the the members that is going to decide how it's enforced and there'll be a lot of initial precedent setting uh based on what first actions those members take in that regard and we all know

rightly or wrongly that the legislation is very much slanted in favor of the tenant uh so uh i think there's some interesting times uh ahead on that that regard uh if if you were to and i know we've only really just started to get into it sky so we'll get you back at a later time to deep dive on some other topics that are near and dear to both of us but uh yeah just to sort of summarize what we've touched on today what what are your key property management takeaways that existing and or would be investors really need to take to heart certainly getting them involved as early as possible in that investing journey from the moment someone decides hey i'm looking to buy an investment property, finding your property manager

at that point, not once you've got the property, if you can. If you don't know which area, then obviously redefine that. But certainly asking really good questions. I think Tony Robbins said that life is defined by the questions we ask or something similar to that. um it's uh certainly i think where people will succeed and that's what i'm so passionate about is educating investors to make sure they have the information so they can make the decision it's not to sit here and say hey i'm the right property manager for everyone because i'm not

if they have the information they can find out what works best for them because then they're happy they're going to continue to invest as opposed to selling out buying this was a horrible experience why would you invest in property yeah exactly now very well said uh is there anything that we haven't covered um that you'd like to share before we jump into ambush round take two um no i think i think we've covered a fair bit actually that's been good yeah i agree 100 agree well let's let's give you the blindfold and cigarette then and then jump into uh bushfire lightning round uh what's your favorite quote and why sky oh i feel like the one i just let out the bag is probably a pretty good one that life is defined by the questions we ask we learn more

by asking good questions um and extra knowledge can only be a good thing one percent uh what's the top book that you'd recommend we read and why oh i have read so many books um probably not property related but one that changed my life was uh uh james clear why i'm not together with yeah that's the one thank you um just around i guess habits and how they sort of stack onto everything can be applied to property that that discipline saving is a habit all of that will come back to it so really it's a good book to apply to all aspects of life totally i think sustainable success in anything uh is built on the habits so if you've got good ones you're going to get there faster if you got bad ones you're in the wrong direction if you don't have

them you're going to end up in no man's land so uh love that uh now this is a bit of an odd question but if i was to give you 50 million dollars in cold hard cash right here right now what would you do with it with a spend invest or rather and why i was not expecting that question actually that's a good one um i would probably do a little bit of everything i think um we can do a lot of things with money we can spend we can save we can give um and that's currently what i'm teaching my children that we should save we should spend and give so i would probably do equal parts of all of that and make sure that we're not only enjoying our money but also helping others and um investing for the long term to ensure the money

doesn't go away i'd imagine 50 million would end but um you know we're living longer than ever before so who knows totally and if you do the right sort of thing with that money then you can live forever as long as your heart keeps beating that's that that's the opportunity i think uh different topic again uh and sort of round out the bushfire series if if you could wave a magic wand and change anything what if anything would change about property management oh that is really good question look i might come under fire from my colleagues for this but i don't believe that property managers attached to sales businesses should be a thing i think that in that environment property managers are not only disrespected

for the work that they do, but they are treated like babysitters and they're looking after those landlords for future commission opportunities. If I could wave a magic wand, it would all be not necessarily business owners, but property management specific and probably are two parts of that. I would change the title property manager. You mentioned it earlier, investment manager.

That's what we should be considered as. We are looking after people's investments. shouldn't have anything to do with sales down the track it is a dedicated specialized service that needs to be treated as such extremely well said and pale to that i yeah 100 agree with your sentiments on that sky your final question before the close if i ask you to get invested what does that mean to you i would probably relate that to property investment uh given that i live and breathe that every day um and i think being invested in all aspects of your life is probably pretty important

um i think the same level of attention that we give to everything in life really dictate the results that we have. Yeah, extremely well said. Now, we'll have all of your contact details in the show notes so that those who've really resonated with your message can reach out directly. But I know we've talked about this offline. As a special for Get Invested listeners, you're very kindly donating a free copy of your Property Manager Investment Guide on questions to ask when interviewing our property manager, which you can also suss out on your website at tailoredproperty.com.au, which is tailored spelled T-A-Y-L-O-R-E-D, property.com.au. But we want everyone listening to email us at hello at knowhowproperty.com.au and share your biggest takeaway on how to better

manage your rental property as a result of what you've heard from Sky today. So Sky, thanks again for taking the time to inspire and educate us on the future of property and property management over the last two episodes. But before we close, if anyone watching or listening would like to explore how property can help you to better achieve your lifestyle goals by freeing up your time

and creating an income for life, whether you're new to the game or an experienced investor or property player, feel free to explore your why, what, and how on successful property that unpacks my 40-odd years of property life and experience by tapping into our recently released freedom formula program that's based on my award-winning book of the same name that you can

enjoy anytime anywhere at your leisure so just click on the link on the show notes now and the first module is absolutely free so make sure you check it out and that brings us to the end of another great episode and a couple of great weeks of chat so thanks again for getting invested and let's keep the conversation going sky thanks for shooting fun thanks for tuning in to get Invested on the Property Hub podcast channel, your home for property investment insights and inspiration. Make sure you subscribe to Property Hub for free. Get your weekly dose of Get Invested inspiration along with every episode of Realty Talk, Australia's top online property show for red-hot property investing news and insights direct from industry leaders and influencers.

And finally, I'll see you next time.