Property Hub - Investment Insights & Inspiration - Realty Talk: Rental Decline + AI Property Heroes + DIY PM
Episode Date: March 26, 2022This week’s show has a strong property management flavor. We kick off with leading property manager Jamie Billerwell from the Code Property Group who has found that rental enquiry is declining in Ql...d despite recent figures recording the fastest national rise in rents & demand in the Sunshine State. As an investor, how do you make sense of the confusing & conflicting deluge of data to find the best property for you? Mickael Roger from proptech disruptor Prop Hero joins us to show how AI is transforming property search and selection. And to close out the show, Bushy starts a series on the importance of property management to your success. First up - self-management vs professional management. RealtyTalk is your trusted voice in property investment and Australia’s most popular online property show. RealtyTalk is brought to you by Realty, Australia’s leading search and social property distribution platform that helps investors like you beat the crowd, giving you the earliest access to property opportunities, listings, and insights. Check out Realty. RealtyTalk is hosted by top property investment expert, author, and founder of KnowHow Property, Bushy Martin. Find out how Bushy’s KnowHow team helps investors unlock freedom with finance and property here, and check out Bushy’s podcast Get Invested. RealtyTalk is supported by BMT, a company that helps property investors save thousands of dollars each year by maximizing tax deductions from investment properties. Find out more. See omnystudio.com/listener for privacy information.
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Hi, and welcome to Realty Talk, your go-to place for all things property.
I'm Bushy Martin from KnowHow Property Finance, and this week's show has a very strong property
management flavour. We kick off with the observation that South East Queensland has
recorded the fastest national rise in rents in recent times, but rental inquiry appears to be
declining. So is the tight rental mark shifting? Jamie Biddlewell from the Code Property Group
joins us to discuss this apparent contradiction. As an investor, how do you make sense of the
confusing and conflicting deluge of data to find the best property for you? Michael Roger from
prop tech disruptor prop hero joins us to show how ai is transforming property search and selection
and to close out the show i start our special series on the criticality of property investment
and property management to your investment success by considering self-management versus
professional management given that between 400 to 660 000 or up to one-third of investors still
manage their own properties. And before we share all of this investment gold, make sure you don't
miss an episode of Realty Talk by signing up on the realty.com.au homepage so that you get every
show in your inbox every week. And I'll even give you a free copy of my award-winning book,
Get Invested, for taking the time and effort. We've got a lot to share, so let's get underway.
greetings and welcome now in recent months brisbane and southeast queensland are reportedly
recording the fastest rise in rents across the country at the overall aggregate level
according to the latest core logic figures which is believed to be due to a continuing imbalance
between rental supply and demand but does this historical rearview mirror approach align with
the current actual experience on the ground? Is the tight rental market shifting? Well,
to discuss the actual hands-on cold face rental demand situation, we're joined by property
management specialist, Jamie Biddlewell from the award-winning Code Property Group on the
Sunshine Coast. So welcome back to the show, Jamie. Thank you for having me. Awesome. I'm
really keen to dive into this subject because I often feel there is a time lag between what
we're reading and what's actually happening. So you've been seeing a bit of a decline in
rental property in Faroe recently. So what does this mean exactly?
Well, I mean, the market has been so wild for so long. We all went into COVID thinking it was,
you know, the four horsemen of the apocalypse. It's ironic now, and we've been spoiled for so
long in the sense that, you know, there was a time where I was getting shoved in a fridge space
because there were 75 people at an open room.
But yeah, and those, of course,
are practicing social distancing, full disclaimer.
But I must say, I am seeing a slight decline.
And I think people that are new to the industry
may not be able to detect it.
But the frustrating thing is,
is I think that the broad understanding
is the fact that the rental market's really strong
and there's a high demand,
but that has to come to an end.
And I think we are seeing signs of it now.
Yeah, I agree. I think it's a little bit like a spring that's been compressed during COVID. And as soon as the shutters came down, the spring is released. But as is always the case, once it overextends, it'll start to settle back to something that's closer to normal. So tell me then, how do you protect yourself from getting swooped up in outdated information that's often the case?
establish a relationship with someone who's on the ground so as an example i have a close database
and i keep in contact with them about not just every single property because that's not of
interest to everyone but their suburbs specifically so send them information when the days on market
changes or when we've leased a property in that area and people get an understanding and an
education before their property's coming online find a reliable property manager that's not just
collecting the rent, but have a more of a holistic view, you need to be speaking with someone in
leasing or business development within an agency, not just a property manager. Property managers
are integral to it, but if you can get both, it will save you in the long run.
100% agree. And I know that in the work that we do for investors, we don't bother wasting our
time with real estate agents because they just tell you what you want to hear. But we always
reach out to the leasing agents or the BDMs in the local specialised property management offices
because you tend to hear the truth rather than the fluff. So I love that. So from your perspective,
then, is the tight rental market shifting and what impact will this have on both landlords
and renters moving forward, do you think? I agree. I think it's stabilising. I think
it's also important to remember, yes, you could have 30 groups at an open home, but how many of
those groups are qualified? Any property manager worth their salt retained good tenants throughout
COVID because it is uncertain times. As a result, we do see a churn of high quality tenants be taken.
My thoughts are it will affect tenants in the sense that they may be in more of a position
to negotiate, especially when it comes to rental prices. Every client that I'm bringing on now,
I'm informing them that this could be completely wrong. It's an observation. It's a hypothetical
situation. However, my advice is always to secure a 12-month lease because we are still seeing the
escalated rents compared to what they were. Be mindful in 12 months' time, the market isn't
the given market in the sense that it's essentially a market on steroids. Lock the tenant in for as
long as you can and be prepared in 12 months time that may be adjusted slightly and it may be a
tenant market. Yes. Yeah. Really good call. Really good call. Well, look, really appreciate your
insights in this, Jamie. And thanks again for your time on the show today. Thank you for having me.
Thanks, Jamie. Well, as you can see, there's often a gap and a lag between what's being reported and
what is actually happening on the ground. So if you want to keep abreast of exactly where rental
markets are at. To ensure you're making fully informed decisions, make sure you reach out to
specialised and dedicated local property managers like Jamie and the Co-Property Group.
Stay with us for more here on Realty Talk. Successful property investment is a game of
finance. Do you have the right team and the right game plan? Realty Talk is brought to you by
Know How Property. More than mortgage brokers, Bushy Martin and his team of investment architects
set you up with a sustainable strategy structured to lower your costs tax risk and stress while
increasing your capacity for growth know how has helped over 1900 homeowners and investors
secure more than 800 million dollars in property wealth so get set to live more work less and
live your legacy. Want to know how to invest in your freedom? Visit knowhowproperty.com.au.
Greetings and welcome. Now, if you're an investor looking to secure the best property to suit your
strategy from the 18,000-odd suburbs and over 9 million residential properties that currently
exist across Australia, where do you start? And how do you decipher the deluge of data across the
over 240 property investment criteria required to determine
which is the best property for you, particularly when you're already
full-time flat out with your career and your family and you lack the time
and the intimate knowledge to make fully informed property decisions.
The unfortunate reality is that most investors don't,
and buyers often fly blind and make big financial decisions
of limited information using nothing more than gut fuel
to either buy a property in their backyard or via a buyer's agent,
a lot of which also rely on their more educated gut instincts.
But what if there was a better way to find the best available property for you
and pay the right price for it in a fraction of the time
without the stress and the headache?
Well, to discuss this, we're joined by Michael Rodger,
the co-founder of PropHero, a prop tech disruptor
who used proprietary data and AI algorithms
algorithms to quickly and easily find the best deals across the country so welcome to realty
talk michael thanks bushy for having me yeah i'm really interested to dive into the subject so
to kick things off tell us about prop hero in a nutshell what's what's your elevator pitch yeah
so look uh we uh see ourselves as the next generation buyers agency focusing on investment
property just like buyers agents we help our clients find buy and manage investment property
but what really makes Procure unique is that we use technology one to achieve better investment
returns using data and AI while also saving our clients a lot of time and effort through our
digital platform so in very short Procure we are about making property investments simple
transparent and more profitable love it absolutely love it so um uh let's begin to then the problem
that uh prop hero is solving sure so look i think that any property investor listening uh to this
session will agree that investing in property is kind of a pain right it's time consuming it's
stressful it's non-transparent and honestly it's like really hard if you want to find the best deal
right and so another thing is that well by definition it's extremely unlikely that where
you live is the best place across all of us all of australia to invest right so if you want the
best deals you have to invest somewhere else um and that's why more and more investors turn to
buyers agents hoping to save time while finding better days but the reality and i mean having used
by other agents myself in the past right is that as you were saying before most of them rely on
their own experience and to be honest gut feeling uh to invest that's one and two they are usually
based in one area and they've been there forever and just like you where you live may not be the
best by definition where they live and where they operate may not be the best area to invest
and that's why with proper we want to like address this by having a location agnostic
approach data driven approach with real property experts within us to find the best deals for our
clients across the entire country yeah brilliant uh that sounds very exciting so yeah proper
property i was obviously a prop tech which is uh short for a property technology business how do
you actually then use technology in the business place yeah yeah so uh we have two ways that we're
using technology for our clients one is data and ai and one is our online platform on data and ai
well the reality that as we're seeing that like over 10 000 suburbs in australia
and it's impossible for one single human being to know them all and identify which are the best it's
just impossible right the human brain cannot do it right and this is where data and artificial
intelligence come into play we use data and ai to filter uh the top one percent of suburbs right and
for that we use like over 200 variables to identify the best suburbs and then once we've
done this initial filtering we have real estate experts right who do like the final check to see
what the data models cannot see right and really find the best deals for for our clients and i
think that's one thing that no one talks about in the industry you know everyone talks about hey my
clients gain sixty thousand dollars or increase its property property value by ten percent it
doesn't matter what really matters which is how much you outperform or overperform the market
right that should be the only metric that you should try because that's why people pay you
right you are paid to overperform the market otherwise anyone can do it so we track this
metric since we know from here we over perform the market by 89 and i can tell you know that well over
the past six months our clients gained on average 17 percent in capital but this honestly doesn't
mean much right because while all the market went up what you should really remember that we almost
doubled the market performance since we don't perform and that's really the metric that we track
so one is data and ai to get better deals and it's working and two is using an online platform
i don't think at the beginning and as you would know investing in property is a pain it takes so
much time and with our like unique online platform you have one single place where you can see all
the details all the data all the insights about the property that we share with our clients
you can access all your documents in one place you can check the status of your conveyancing
of your finance everything and what we calculated that on average we save our clients 50 hours of
work per investment and we and we want to keep uh increasing that so ensure technology better return
and a lot of time saved. And that's our motto at Procureur.
Yeah, I love it. How about the costing side? Because quite often buyers and agents are
charging 2% plus to find and secure a property, and it's often on a percentage basis. How does
PropTech work in that regard?
So look, honestly, I never understood this, right? As a buyer, you want to buy the best
property at the best price possible. And charging as a percentage of the deal, I mean, our interests
are not aligned i i always found it crazy right and so uh for us it's a uh 60 engagement fee of
990 dollars and success fee only when you buy the property of 9900 and you only pay this if you uh
if you actually buy the property and for this we do everything for you m2m uh you have access for
life to our platform but for free uh and yeah six fees have no bad surprise and we just want the
best deal for you yeah i love it no it's a really good solution so how can ordinary mom and dad
investors then benefit from the data and different solutions when making proper investment decisions
so look the honest answer is that it is difficult right we have an entire team working full-time
on this still i i would say that uh if you want to invest in a property i would say like the
bare minimum that you should do is look at some free databases don't read articles articles are
often biased so like look for like raw data check out a domain sqm maybe property investors they
have something for for consumers um check reports on a given area to understand supply demand look
at the evolution of prices rents vacancies please also like do your homework around uh climate risk
right uh you have we are looking australia we've got like databases i think most of them are free
uh even for consumers check that you don't buy in a risky area i would say yeah so i mean it's
i mean it's difficult otherwise we don't have an entire team working on it but please like do
these checks because you can already yourself do a few of them just to reduce your risk so i can
say i i want that you can find the best deal but at least you can reduce your risk um by doing that
and i think that yeah everyone should should do this because yeah like there are like many uh
properties that you already don't find in the market.
Yeah, absolutely.
Yeah, no, well said.
Well, look, this sounds really promising and exciting, Michael.
So thanks for coming on the show today to make aware of us
and thanks for your time and innovations.
Thanks for having me, Boucher.
Thanks, Michael.
Well, there it is, a great example of the application
of popular technology utilising artificial intelligence algorithms
to interrogate large volumes of dynamic data
to remove the limitations of our emotionally charged gap field
in order to make much better and objective, fully informed decisions quickly,
without the stress, the hassle, or the uncertainty.
To find out more, reach out to Michael and his PropHero team at prophero.com.au.
Stay with us for more here on Realty Talk.
Hi and welcome.
What's your take on property management?
Over the next few weeks, we're going to explore in detail
the challenging world of property management, given its critical importance to your investment
success. If you're a current or potential property investor, do you or will you self-manage your
property or pay a property manager to do it for you? I ask this because depending on who you talk
to, somewhere between 20% and 33% of the 2.6 million investor-owned dwellings in Australia
that are owned by just over 2 million residential property investors are self-managed.
And interestingly, according to research done by finder.com.au, Tasmania has the highest percentage
at 43% of privately rented properties, while New South Wales has the lowest at 22%. That means
that somewhere between one in five and one in three residential investment properties
are self-managed. In other words, between 400,000 and 660,000 Aussie investor landlords
still manage their own properties. Now, these numbers still amaze me given the huge amount
of money and risk that's tied up in their investment properties. So starting today,
I'm going to delve into the world of self-management versus professional property
management. And to set the scene, let me start with Tom's story. A few years ago,
Tom wanted to help out an old friend in need so he entrusted his home and leased it to her
when he had to move interstate for work. As he felt he knew his friend well he decided to save
a few bucks on employing a property manager and he collected the rent himself directly from Carmen
who was a separated mother with her young daughter. Carmen and her new partner reassured Tom that you
can trust us we'll look after your house it'll be better than when you left it. I mean he was helping
a friend through a tough time, so what could possibly go wrong? Famous last words. Six months
later, he stopped receiving rent payments, and by the time he managed to get time off work and return
home to his property, he arrived to find it completely trashed by drug users and squatters.
The internal walls had been smashed and kicked in. Most of the wiring had been stripped out.
Used syringes and shattered glass covered the floors, and dirty clothes, piles of rubbish,
maggots and faeces were strewn everywhere. There was well over $50,000 worth of damage done to
Tom's home. And to make matters even worse, his home insurance policy had lapsed because
he got too busy at work and the tenant forgot to forward the mail. And he hadn't bothered to
take out landlord insurance because he didn't think he needed it. So all of the lost rent and
repairs had to come directly out of Tom's pocket. So saving under $40 a week in property management
fees end up costing him over $50,000 that he just didn't have. And for $50,000, he could have
engaged a property manager for the next 24 years and still been in front. Tom was penny wise and
pound foolish. And unfortunately, this is a common story. Now, let me ask you three questions.
If you're a long-term property investor who's focused on securing high capital growth properties
that are cashflow positive, where will most of the time, energy and cost be spent on holding
and maintaining your property? Secondly, if you spend between three and 12 months securing your
investment property and then rent it out, maintain it and hold it for 15 years plus to enjoy maximum
capital growth, what key skill is required for the majority of the time to ensure that you last
the distance? And lastly, what property expertise is most needed but least considered and often
unappreciated? Now, the answer to all of these three questions is the same. Can you guess what
the answer is? Yes, it's property management. If you spend 5% of your time finding and buying
your investment property and the remaining 95% renting it out and holding it, then property
investment is mostly a waiting and maintaining game. So if property management is the key core
skill that will make or break your long-term investment journey, who's the best person to do
it? You as a part-time amateur or a dedicated independent professional property manager.
Given the critical importance of this subject to your property investment success,
today we'll start delving into the challenging world of all things property management.
Because if you're like most investors, once you've bought your investment property,
you think the worst of it's over and all you have to do is find a tenant, collect the rent
and the rest is going to be plain sailing. I mean, how hard can it be? Why would you bother
paying a property manager all that money to do something that you can just as easily do in your
spare time? I mean, what could possibly go wrong? Surely it can't be that hard. It's just a matter
of collecting the rent, right? Wrongity, wrong, wrong, wrong. Why? Because when it comes to
managing property, you just don't know what you don't know. And ignorance is certainly not bliss.
In fact, it's downright dangerous, especially in the increasingly litigious world of property.
There's a good reason why over half of first-time investors sell their property within the first
five years. And a lot of this has to do with the ongoing time-consuming and life-sucking headache
and hassles of managing the property. So do you manage your properties yourself or pay a property
manager to do it for you because with investment property everything is fine until suddenly it's
not. Over the 10 years plus that we owned and ran a dedicated property management business
we saw the dynamics of tenancies change overnight. Like Jekyll and Hyde great tenants can quickly
become problem tenants due to changes in their circumstances like relationship breakdowns or
job losses resulting in non-payment of rent and or damage and degradation to the property
and you as a landlord are left holding the can. As I've always said, it's not a matter of if you're
going to have problems with your investment properties, it's a matter of when, how big
and how often. And with residential tenancies legislation in each and every state differing,
constantly changing and increasingly stacked in favour of the rights of the tenants,
I always wonder if saving a few dollars on a property manager is worth a very considerable
financial risk. Let me share another quick example. You've no doubt heard the old expression,
they took everything but the kitchen sink. But in this tenant horror story, they even took that as
well. A self-managing landlord found tenants privately on Gumtree and then ended up with a
big and expensive shock when they suddenly and unexpectedly did a runner. They pulled out and
taken the entire kitchen and yes, even the kitchen sink was gone. Now, this may sound extreme,
But if you ask any specialised landlord insurer like the team at EBM Rent Cover, you'll hear that theft from investment properties is far more common than you might actually realise.
The other concerning and increasing trend in privately managed properties is the growing incidence of hidden methamphetamine drug labs in properties where tenants manage to bypass professional property managers and they use fake IDs to rent properties direct from unsuspecting private landlords who don't apply the same screening scrutiny.
Not only does this incur massive cleanup costs, but it also means a significant loss of rental
income for extensive periods of time while the police matter is sorted out over months through
the courts. In addition, the landlords and any future tenants may also face potential health
risks from lingering chemical residue. So when you buy an investment property, you don't want
to have a similar current affair or 730 report TV moment. So let me ask you again, should you
self-manage your property or get a good experienced property manager to do it for you?
I think you can guess what my answer is, but let's dig into it a bit more. Let's start by
understanding what's really involved in managing an investment property. A lot of first-time
investors think it's just about finding a tenant, collecting the rent and doing the occasional bit
maintenance. Well, good luck with that. Let me enlighten you on the scope of just some of the
tasks involved in managing your property effectively. Firstly, you need to start by
doing a full photographic survey and complete inspection and condition report on the property
to document and confirm its current condition and repair any items that aren't up to scratch
prior to a tenant moving in. Next, you need to advertise your property in order to attract a
tenant. This involves arranging professional marketing photos and writing a good description
that will attract the highest number of quality tenants. And don't make the mistake of taking
dodgy photos with your iPhone as they just won't cut the mustard when you're competing with other
rental adverts. Then you need to list the property online on multiple sites. And again, don't make
the mistake of just listing it on Gumtree or similar Facebook pages because this is where
tenants who've got bad rental records and who've been blacklisted by professional property managers
tend to prey on the unsuspecting. Next comes conducting open homes for tenant walkthroughs.
You also need to determine a competitive weekly rent amount. Then comes the arduous task of
tenant screening along with all of the checks required. And they include identity checks,
criminal records, tenancy databases, credit reports, financial and employment checks,
delving into their rental history and talking in depth with referees. Then you need to prepare
and execute all of the screeds of lease documentation that's required. Then we have
conducting entry condition reports and exit condition reports at tenancy changeovers.
You also need to lodge and release bonds from the trust account of the state-based residential
tenancy authorities. You have to collect the rent every week, fortnight or month depending
how you've set it up, and you need to provide statements and invoices for rental payments.
Then you need to implement and activate a preventative maintenance program to keep the
property in good working order and compliant with the ever-changing regulations. You need to
field requests from your tenants at all hours of the day and night, and quote and book in repairs
with reliable trades with professional indemnity insurance as and when required. You need to
inspect completed repairs. Then there's fielding tenant concerns and complaints. You need to be
able to moderate and mediate issues with the tenants. And depending on the state, three to
four times a year, you need to conduct full routine inspections of the property and provide
the advance notices to the tenants within the required and stipulated timeframes. You need to
deal with any and all tenancy issues and rent arrears. And then there's following and complying
with the ever-changing restrictive legislative requirements. You need to keep appropriate
detailed written and photographic records of all communications and associated matters
for both insurance or legal disputes. You need to book regular smoke alarm inspections and swimming
pool compliance if applicable. Then there's the invoicing of tenants for excess water damage etc
water usage etc is dealing with body corporates and strata bodies if appropriate. You also need
to pay bills for rates water insurances etc. You need to issue appropriate notice for anything
associated with the property in accordance with strict legislated procedures and timing. You need
to claim bond releases in alignment with these strict policies. And then there's preparing and
attending tribunal hearings when tenant disputes arise. You need to follow very strict and detailed
procedures when evicting tenants if and when necessary. Then there's finding new tenants
when vacancies occur and the whole circus starts again. And of course, every year you need to
collate and prepare all of your income, expense and depreciation documentation in readiness for
accountant and tax return preparation. Now, this is just scratching the surface of what's required
to actually manage a rental property. So does this sound like something you want to do or even have
time to do on top of all your work and family commitments? So before you decide to crimp a few
bucks and give yourself a second job, ask yourself the following questions to determine if self
managing is the right option for you. Firstly, are you in a position to be on call 24 seven day and
night? Secondly, are you prepared to evict tenants who seem to have good excuses for non-payment of
rent? Can you keep your cool and remain professional with tenants that are being unreasonable? Are you
prepared to give up your personal time and weekends when required? And lastly, do you have the time to
learn the ins and outs of the ever-changing legislation in your local area and how to manage
a rental within the strict confines of the law? Now this last one is particularly important and
will help ensure that you don't get yourself in a difficult and expensive predicament without even
realising it. So when you're deciding whether to self-manage or use a property manager, you need
to consider a whole range of factors, including the time and effort required to manage your
property, the costs, and most importantly, your legal requirements, obligations and protections.
Now, I can't stress this strongly enough. If you're an owner who's self-managing or considering it,
you need to be fully aware of the applicable rental laws and understand their obligations
because as far as the law is concerned ignorance is no defence and many states and territories
have recently amended and or are implementing changes to tenancy legislation that's actually
increasing the protection and rights of the tenant. This means that if you're leasing property you need
to be intimately aware of the changes and how they apply in your situation. It's also worth noting
that adequately maintaining a property in accordance with all laws, compliance codes, policies and
procedures is a minimum expected requirement for landlord insurance. If you don't follow the letter
of the law, then your landlord insurer is unlikely to honour or pay any claim. This includes finding
and contracting the right tradies who have suitable business and liability insurances in
case something goes wrong, setting up suitable times with the tenants in accordance with required
notice periods, checking the work has been done satisfactorily, and then paying the invoices all
within certain stipulated timeframes. And this is one of the biggest reasons to engage a good
dedicated professional property manager, to ensure you're getting access to all your legal protection,
as well as access to specialised landlord insurance policies that are only offered when
a property is professionally managed. Now, don't get me wrong here. For some investors,
being a hands-on landlord and self-managing the property suits them, particularly if they live
close to the rental, have a good long-term tenant, and can spare the time to arrange
maintenance and repairs, rent collection and inspections. It's also an option for those who
wish to have total control over their investment, which aside from their own home, will be the
biggest financial investment they're ever likely to make. But as I've already said a number of
times now, self-managing comes with inherent risks and lacks the legal and insurance protection
offered when the property is being managed by a recognised professional. And this is one of the
major reasons why landlords choose to go with property managers in addition to their expertise
and connections. Because as a landlord choosing to self-manage, the onus is entirely on you.
From finding tenants to making sure that all legal obligations are followed,
the ball's in your court. Next week, I'll continue our discussion on self-management
versus professional management of your property by drawing your attention to property management
risks, outlining the reasons why it's worth investing in a good property manager, and I'll
break down the costs. That's food for thought. I'm Bushy Martin from KnowHow Property Finance,
so stay tuned for more. Property depreciation is the natural wear and tear of a building and
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Well, that brings us to the end of this week's show. Another big thanks to our special guests,
Jamie Billiwell and Michael Roger. And to make sure you don't miss an episode of Australia's
longest running and most popular online property show, subscribe to Realty Talk Now on Apple
Podcasts, Google Podcasts, Spotify, YouTube, or wherever you listen. And make sure you sign up
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Australia's most extensive range of properties for sale from over 7,000 agents nationally.
Thanks again to realty.com.au and BMT Tax Depreciation for their ongoing support.
I'm Bushy Martin from KnowHow Property Finance
and I look forward to seeing you again next week.
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