 Hello everybody and welcome back to the 50 day challenge. This is day 15 of the 50 day challenge and we are today wrapping up with Jared separately because of our timing, unfortunately, we couldn't get Jared and Tabaleng in one room together but we'll chat with Jared first, we'll chat with Tabaleng later and then we'll bring them all together for you into one session. So guys, today, we wanna just wrap up week three with Jared and chat with him and see what he's learned, what he's been able to achieve and where he is in his journey at the moment. So Jared, welcome and thank you again for joining us today. And thank you to the public for those of you who facefully every Friday night at 8.30 join us on Facebook through the channel with private property and we thank private property obviously for their support of this program. So guys, let's chat with Jared and hear where he's at with his journey now 15 days in, we're almost a third of the way and wow, it's been quite a journey. Right Jared, it's been quite a journey for us so far. Yes, a lot of learnings, a lot of big decisions around what it is you wanna do and it's becoming clearer and clearer and clearer. So I'm so excited, so enthusiastic and I think all the public are just all excited. I mean, just the amount of inquiries I've been getting just to how I've been doing this whole thing and how am I finding it. So I'm excited that the course is spreading far and wide. We're able to share this kind of knowledge. Yeah, awesome. Okay, so for those of you who still don't know, if you want to follow this journey, you can either find us on YouTube, EDPF Property Academy or EDPF or you can follow us on our website, edpfpropertyacademy.com or every day we put up a new session as we follow this journey. Every day we will record and we'll put it up for you guys to see. So Jared, this week we spoke a little bit about some legal stuff. We spoke a little bit about the intelligence. We spoke about Lightstone and you yourself have gone out there to look for some property opportunities and I'm very excited that you are very close to possibly buying your first property, which is absolutely amazing. I'm really, really happy for you and I can already feel the goosebumps. I can't wait for you to tell me Nigel, I'm tired of all that first property. So I'm very excited about that but let's first talk about the legal stuff. So Jared, you've learned quite a bit on the legal side. You've learned about Office to Purchase. You've learned about the transfer process. Tell us a little bit about what you learned from Aya with regard to Office to Purchase. What little nuggets did you get from him that you didn't know before? Oh gosh, for me it was just, like I keep saying it's all new to me. So everything is like a nugget because I think I represent a group out there who's never thought about this. Who's still learning and digesting information. But I think for me the Office to Purchase was quite informative. It's not one specific thing that I can pull out but I think just the whole idea of how the process works was quite new to me and I think a lot of people who's never bought property before this is quite an interesting conversation they have because we just think, oh, you see the property, you like it, you buy it and you move on, you use it for whatever purpose you want to use it for. But it's just such a lot that we have to take into consideration. And so I'm excited that I'm learning and that we're also learning with you. Yeah, I think for those who didn't watch that session on Office to Purchase, hopefully they'll go and watch that session because it is extremely important. Some of the highlights for me in terms of that session that we had with Maya Deval is that all the different components that you have to be sure of that you put into this offer. And the two things that most importantly stood out was the due diligence and feasibility side and then the financing side because when you put in an offer to purchase, you need to be sure that if you can't raise the money or if you do your due diligence and you find out actually there's a lot wrong with this property that actually the property isn't worth what the seller wants for it that you have a way to renegotiate. And I think that's the most important part is making sure that you add these clauses in that at the end of the day, if you've done your due diligence, you looked at the property and you've seen that, wait a minute, there's a massive crack in the property there. What is the underlying cause? Is there the roof is broken? That you didn't see it maybe when you walk in originally, but when you did your due diligence and you check the property out, you saw. And then also having professionals look at the thing because obviously you as a new investor don't understand all the different nuances of purchasing a property. So bring in professionals to understand and look at the property and make sure that you are not buying a dud because very often there's a clause in your offer to purchase that says you're buying the property, footstool, oh, I hate that. Cool. As a seller, as is, if you're a seller, obviously you want to sell foods because you don't want any comebacks. But as a buyer, you want to be sure that what you're buying is real. So that effort to purchase is so important and in terms of the due diligence, the feasibility that allows you to check the property out before you finalize the deal and possibly be able to renegotiate. And then on top of that, if you don't add in that clause that says I need to raise money through a bond or any other way, then you are gonna be held accountable if you can't raise the money because it's almost like you said I have the money so I'm buying this property. But if you put a clause in that says I want to apply for a bond, that's a different story. And I see Matt Ellis just joined us. She is actually coming into the room so we'll chat with her a little bit as well. Okay, so guys, Janet, I see Matt Ellis just joined us. So thank you very much Matt for joining us for this wrap up session. I know you're extremely busy. So thank you very much for giving us your time so that we could wrap up week number three. It is now day 15. For those of you who didn't catch that at the beginning of the session, it is now day 15. And Jared and I have been talking a little bit about the stuff he's learned with regard to the legal side, offers to purchase and so on. So let's quickly catch up with Matt Ellis in terms of what she learned on legal. But before we get there, Jared, earlier on in the week, we spoke about some deals that you're working on. That was at the beginning of this week. How far are you with those deals? Have you signed your first offer to purchase already or are you still making a decision? I'm still making a decision. It's a big choice. And I don't want to make the wrong choice here. 100%. So I'm still looking at what it is that I'm looking to do with this property portfolio that I'm developing. But I think I also want to go in and visit those properties again and again. As you've mentioned, with what we're learning with property purchases and due diligence, it's making sure that you really see everything when you're at the property because it's a romanticized idea of being a viewer and you love it because you just see how wonderful and then you end up with a property that's a dive, as you said, because now that cracks in the foundation or things are not right, things that you only start seeing afterwards. And it's also, I think I'm learning that it's also good to take somebody else along with you who will tell you, hey, check that out. And maybe someone who knows about structural things. Just so that you know what you're getting is worth the money that you're gonna spend. Yeah, I know for sure. So I think when you have a minute, Jared, you and I will go out to those properties. We're gonna have a look at them. And from a professional, I will have a look at it and see whether that property is out of those two properties that you're currently looking at is really worth what they are selling for and possibly be able to negotiate the better price. So I'm really looking forward to that part of the journey and to be able to help you to purchase your very first property. So guys, right now we're gonna say goodbye to Jared because he's got a run, he's got a gig that he needs to go and do. So thank you very much, Jared, for this, yeah, for your very valuable time. And we'll carry on talking to Matt Owl about her journey where she's at at the moment and then wrap up the week, week three. So Jared, thank you very much. Matt Owl, you and I will stay online and then we will talk about where you are at with your journey. Jared, thank you. Enjoy your gig. Thank you very much. Ciao. Okay guys, so now that we've said goodbye to Jared, unfortunately, like we said, he had a gig on that he needed to go to and fortunately for us, Matt Owl has now joined us and we're gonna talk a little bit about her journey so far. It is day 15 and we are now three weeks in so we're almost a third of the way. So Matt Owl, you've now learned quite a lot. You've learned about offers to purchase. You've learned about intelligence and all host of other things that you learned this week and the previous three weeks. Tell us what you've learned specifically related to the offer to purchase and how that will help you in your investment journey. Thanks Nigel. I think the biggest thing that I learned especially when it comes to an offer to purchase is as human beings, we get afraid to even submit or to draft the offer to purchase because we think that once we have made that offer should things change down the line like maybe you can't secure funding. Maybe there's certain things you discover about the property that now make you feel actually I don't want to continue with this deal. A lot of people are afraid to put in the offer to purchase because like myself, you become unaware of the fact that there's clauses you can actually include that allow you to still be able to break away from the offer because at the end of the day, in order for you to even begin the process to try to secure that property, you need to put through the offer to purchase. So I think the one clause for me that really stands out as the bond clause where for example, I put an offer through and then I look for funding and say I don't secure the funding then what? I still bound to have to pay the seller that amount but if I put in that bond clause, it does allow that leeway to say okay, this is my offer, but if I'm unable to raise the funds for this particular offer to purchase, then that clause still allows me to in essence retract on the offer to purchase. So I think that was the big fundamental thing that I learned there. But more than anything, I think it's also just the due diligence. There's really important information that also needs to be put on the offer to purchase. And I think also having learned about platforms like Lightstone, not only just having the building name, street address, you need things like earth number details that also need to be on the offer to purchase. And obviously if you've done your due diligence, making sure it's the right owner, all the correct information must be on that offer to purchase before you can even go as far as submitting it to a bank to proceed with the process. So yeah, quite a lot to learn. But I think for me, those are the two main take counts. Yeah. All right, fantastic. Yeah, we've covered so much over the last 15 days. It always amazes me that you guys actually remember everything we've taught you because there's just so much we're throwing at you at the same time. So thank you for that. And I agree with you. I mean, at the end of the day, you wanna be sure that what you're buying is actually what you're paying for. And normally that foots to its claws that goes into, I just spoke to Jared about that same issue, the fact that there's always those foots to its claws that says you're buying the property as is, which then means that if you didn't do your due diligence, you didn't check, you didn't bring your professionals to come and look at it, you could end up in a situation where Jared was chatting about somebody who bought the property and they saw water coming up and it was actually the drain that the property was built on and the sewer water was actually coming up from underneath the ground. So you need to know these things. You need to know that the person who's selling you the property actually owns it. And that's what the title deed gives you. And all of these things was in the offer to purchase will protect you in that way. So let's talk a little bit about what you learned on Lightstone. So there are a couple of things that we spoke about earlier in the week with regard to Lightstone and that system. What did you learn from that session? Well, Lightstone gives a wealth of information specifically not just on the property, but the area. The fact that you can actually zone in on the surrounding areas in that street, you get to see what's the average price range? Like in terms of in the past year, how many properties actually sold in that street? How much did they actually sell for? So that also again, it helps when it comes to negotiating the price with the seller because then you get to see prior information to say, okay, your asking price is 450, but according to my research, in the past year properties have been selling for about 400,000. So then that puts you in a different position for negotiation. Other important information, you get to see who the actual owner is. It actually shows this property was sold in 2016 on June the 4th. So it gives very insightful information so that the person who's saying I'm the seller, those two things need to correlate with what is on Lightstone versus their actual ID. Is it their ID number that's written there as the person with the title deed? So, yeah, Lightstone gives a lot. It actually really gives a lot. You can even get a street view. You get to see even the land size, the square meters that you're working with. It's a wealth of information. I myself still wanna sit down on the app and just actually have fun with it like I did with the private property app because, yeah, there's a lot that's there. There's a lot that's there. Fantastic. And as an EDPF candidate, one that's on our platform and on our program, you are fortunate enough and those who are on the program are fortunate enough to have free access to the Lightstone system because we have a deal with Lightstone where as a candidate you actually have access to that and TPN and also Planned Robots Attorneys, other platforms as well that you can use for free to do that research. So I'm really glad to have you on the program and have you be able to utilize that facility. Okay, so that's enough now in terms of what you learned for the week but let's talk a little bit about your journey. So you've already bought two properties prior to joining the EDPF Academy and this 50 day challenge. So your challenge was more about not purchasing your first property but how do you now take your portfolio further and develop that and grow it? So give us an idea of the types of properties that you're currently looking at or which areas you're looking at and what's your strategy in terms of how you're going to now grow your portfolio? So currently the two properties are owned in the Pretoria region. The initial plan for that was to create student accommodation. So the one is in Milkville Neck that's I think just the northern part of sunny side. The other one is in Arcadia. So they're both positioned really well in terms of student accommodation because the one is literally one walking distance from UNICEF. The other one is walking distance from Boston and they're both also relatively, I mean, transport-wise they're on a transport route quite close to get to the University of Pretoria. So I think in that same breadth having seen that the properties are usually most of the time fully occupied because of the fact that they're in student areas but the wine also specifically in Milkville Neck I think it also it appeals more to the working class that can't necessarily afford, how can I put it? It's like, for example, you get a cashier who cannot really necessarily afford a very expensive two bedroom apartment in Hadfield but can afford that one and a half bedroom that you're offering them in Milkville Neck. So I think now with the experience of the two I'm still leaning towards student accommodation because that's really where the passion of my property journey started. At the moment I'm currently looking around Arcadia again because again with their it's walking distance to Boston. It's also close proximity to the University of Pretoria. So those areas are really booming when it comes to student accommodation but I think the key thing because I was a student myself it's always affordability. So making the gap here being offering very well renovated accommodation but at an affordable price. So again with learning that you need to be cash flow positive from the minute you purchase the property. So again sticking to my plan of the range of remember in the beginning you asked us how much I've again just been looking at properties my median is 400,000 but anything from 350 to 450 for me I think is quite a good deal. So looking at the Arcadia area the main properties I get there around that price range 400 to 420 are about like a 1.5 a two bedroom if I'm lucky but I've been lucky to spot two three bedroom apartments. However, having read up a little bit more and looked at the size of the property I actually realized that those were once before two bedrooms or 1.5s that were later renovated to become a three bedroom. So from a rental perspective they're already cash flow positive because of that conversion that was created there. So right now I'm just in a position of having to go view them from the pictures things are looking okay but again due diligence my next step is to now go see those two properties that I've I've got a top four but the top two are the ones that were previously 1.5 and now converted into 2.5 for three bedroom because of the cash flow positive rental. I am so excited about that. It's so great to see even just three weeks having had all this time that we were literally just bombarding you with information and teaching you as much as we possibly can in a short space of time that both you and Jared already 15 days in looking at zoning in at properties that are of keen interest to you are specifically within that range not only the price range but also within the sort of investment categories that you originally had said you're looking for. And I think that it's important to understand that because when we go looking for property very often we make a mistake of trying to just look at the entire landscape and hope that it's like throwing dots at the dot board in the hope that you're going to hit the bullseye. You guys have become very focused and I'm very, very happy about that. You've become very focused. You've said this is the kind of property I'm looking for. These are the kinds of returns I want. This is the kind of money that I want to invest whether I have the money or not doesn't matter because we're teaching you how to use other people's money which is fantastic. And then saying, right, this is what I'm looking to invest in. And it's so great to see 15 days in that both of you have found a couple of properties that fit within that criteria. So I'm very excited to continue this conversation to see where you get to hopefully to be able to finally invest in those properties. So thank you. Thank you for that. Thank you for your time again. And thank you for these three weeks that we've spent together so far. There's quite a ways still to go. We've got another 35 more days and I'm excited to see how you and Jared end up. Hopefully in the next 35 days still worth a property that you own, that we've helped you get and helped you structure and helped you finance. So in doubling that out, thank you very much again for your time. Guys out there of the members of the public, people that watch us on Facebook, private property for partnering with us. Thank you guys again for joining us on this journey of the 50 day property challenge. And we hope to see you again on Monday as we carry on talking about how you too can become a property investor within 50 days. Thank you very much. This is Nigel and then doubling, signing off for week three of the 50 day property challenge.