Welcome to Episode 227 of the Brisbane Property Podcast! In this episode of the Brisbane Property Podcast, hosts Scott and Melinda Jennison are joined by Andy Adams, a buyers agent with an accounting background and extensive experience in small-scale property development. Andy shares his journey from Melbourne to Brisbane and how he got started with small-scale developments in Brisbane.
Key episode insights:
- Choosing the right location for a development.
- Avoiding costly mistakes with zoning, flood risks, and overcapitalising.
- Simple strategies to boost rental income, including Airbnb and renting by the room.
Whether you’re considering small-scale development or just curious about the process, this episode delivers practical advice.
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Transcript
Introduction and Welcome
In today’s episode of the Brisbane Property Podcast, we are joined by Andy Adams, one of our experienced buyer’s agents here at Streamline Property Buyers, and Andy’s going to take us through the journey of small-scale property developments here in Brisbane, as well as discussing some ways to diversify the income opportunities that you may be able to generate from your property portfolio. You’ll find this episode very insightful.
Welcome to the Brisbane Property Podcast with your hosts, Melinda and Scott Jennison from Streamline Property Buyers, your local Brisbane Property specialists.
Meet Andy Adams
Hello everyone and welcome back to another episode of the Brisbane Property Podcast, Scott and Melinda Jennison here with Streamline and joining us today we’ve got one of our team members. We’ve got Andy, Andy Adams, who’s joining us today to a little bit of knowledge and insight and some experience he’s got with some developments that he’s done. Welcome Andy.
Thanks guys. Excited to be here.
Yeah, we’re super excited to have you join the podcast for the very first time and I’m sure as listeners you’ll get some really good insights from Andy. Not only is Andy a buyer’s agent here with our team, he also has an accounting background, so he brings a very detailed perspective in terms of what’s possible when it comes to building wealth through property and he’s going to share some insights that he’s gained over many, many years through his own journey of building wealth and that is specifically through some small-scale developments that he has been involved in over many years. So we’re really looking forward to unpacking some insights from Andy and sharing his intel with everybody.
Andy’s Background and Move to Brisbane
Andy, a little bit of a background for our listeners. You originally come from Victoria, from Melbourne?
Yes, moved up here about 10 years ago.
Okay. And not to rub anything in, but being a Brisbane Property Podcast, who’s your team you go for?
I do go for Carlton.
I think you might’ve found this year in the AFL that the lions might’ve knocked Carlton out.
Yes, recently, just last week.
Don’t want to rub that in too much, but I’m sure our Brisbane listeners will love that. And I know we’ve had some other guests on who have been Lions supporters anyway, different sports supporters around the nation, so obviously moved from Melbourne as Melinda mentioned, an accounting background and you’ve moved up to the beautiful sunny Queensland, so yeah, I’m sure that’s a good change and you’re enjoying yourself.
Yeah, I do love it up in Brisbane. I think what prompted the change, my brother moved up here a couple of years prior for me moving up when I visited him, it actually felt like a holiday vibe. The weather was great and what I also noticed was the affordability of property, especially back then coming from Melbourne, there wasn’t anything that I could afford getting into the property market and a bit of research and I actually purchased a block of land in an estate, which was my first purchase, so it was in line with me moving up and that was my first development actually building a low set in interstate.
First Property Development Experience
How many years ago was this Andy? Sorry, just for listeners, what sort of timeframes are we talking about?
I think that was about 10 years ago. Was that first purchase, correct? Yeah.
So you were a bit ahead of the wave because off the back of Covid we obviously have seen a huge, huge increase in the rate of interstate migration, but you saw the sunny side and come up to the better place much earlier.
Absolutely. My brother was in sort of the same boat. He thought he would go back to Melbourne after living up here and he thought he would just give it six months and see how that went. And yeah, it was very reluctant to go back to Melbourne and so yeah, I moved up and joined him. The same proviso that I’ll give it six months, see how I enjoy it and yeah,
The rest is history.
The rest is history.
I Think we’ve seen a lot of that in the last couple of years, people moving up from down south and the rest is history. They stay up here and enjoy it. So Melinda and I have done some developments, but we thought we’d give our listeners a different voice and a different sort of outlook on your experience and some of the things that you’ve seen, some challenges, some benefits, all those types of things because it’s always different the way that some people do it. We might do it completely different to the way you’ve done it and others similar. Everyone has that different sort of style, the way they do things. Going through a development. There’s different processes along the way. So obviously there’s some key stages Start us off. Where do you start off with, for example, on a development, how do you start to look at the location and the land and that type of thing or what you’re looking for?
Yeah, excellent question Scott. I would like to work back from what I see new builds selling for in the area and working back to see what’s feasible and what does stack up in terms of the land prices and what build costs would be and what that potential build would be worth once completed. So I’d work back from that and usually it would be roughly working on between 25 to 20%, so getting in to be able to build a property that is effectively 20 to 25% less than if I was to buy that brand new.
Yeah, I think that’s a good point because as you just said, you don’t want to build the Taj Mahal in an area that’s not going to sell, so you want to build the product that’s going to suit the location.
Absolutely.
That’s important. That’s a really critical thing before you even start, I think make sure you look at the end product to make sure it’s going to match where you’re building and also the finishes and things like that when you go inside, make sure it’s going to match that area.
Absolutely.
Which actually building the product for.
Some areas you might overcapitalise by spending too much a bit further out from the city and sometimes as you move into the city in better locations you’d like to spend a bit more on that build and get the premium quality finishes.
So Andy, 10 years ago you bought a block of land. You said you built a low set house in an estate. What was the journey from there? You’ve obviously moved into slightly larger projects. Can you help us understand What happened there?
Yeah, so what I found with that project building in an estate is when you do come time to sell, usually that’s going to sell very comparably to other houses in that estate that are selling. So there’s not too much point of difference when someone’s looking for a family home. If they miss out on this, they’ll wait for another one in the estate to potentially purchase. So moving forward from that, I want to get closer into Brisbane. The first development was about 25 kilometres north of Brisbane and I felt that getting closer into Brisbane and where there’s not much land supply sort of future locked in that and being able to build, I guess a house that’s different but also suits the area. So it has that point of difference when someone does come to purchase that property, they fall in love for that particular property and it’s not something similar next door or in the same estate or area.
It’s a really good observation, Andy, something that we always talk about also within our business at Streamline Property Buyers when we’re helping investors, especially what you’ve just described is scarcity.
Absolutely, yes.
Development Strategy and Site Selection
So obviously coming in closer to the CBD, there’s more likely to be a scarcity of land and also a scarcity of that finished end product. So you’ve purchased the first one as vacant land built that property as you’ve approached the second one, I’m assuming it wasn’t vacant land that you purchased?
No, it was actually, it was vacant land. It was about 12 kilometres north of Brisbane city and after that one that’s when I started to work out that getting land cheaper was to do the development side of finding those bigger blocks, knocking down houses that were potentially already on two lots or subdividing to get that land effectively cheaper to make the development more feasible.
Benefits of Small-Scale Developments
So obviously we talked about being organised, doing your research, we talked about the end value side of it and any development that I’ve ever been involved in and whether it’s me, maybe it is me, I’m not sure, but there’s always challenges. Absolutely. Okay, so it doesn’t matter. I always look and say, as you said, you look at your end product, you talk about you do your homework, you do your research, you do your planning, there will be challenges. Okay, so there’ll be little hiccups along the way and you just have to deal with them. That’s development I think. Anyway. Is there any sort of big challenge that you really have noticed along the way?
Definitely recently, prior to maybe about three years ago, we’ve found that obviously the cost to build is appreciated quite substantially. So sometimes it’s not feasible to do some developments. So we’ve found that a bit more difficult, especially in the last few years recently, probably in the last one or two years. It’s the labour and finding the trades. So even bringing in trades to do sort of those small touch-ups and things like that can draw out that project and obviously can cost you more in holding costs. Definitely we found that recently over the last one to three years
I think on that construction cost as well for our listeners, just be careful if we revert back to the first part, we talked about building the product for the certain area. Just because construction costs have gone up doesn’t mean you can cut costs on the build because your end product’s going to be different, and it won’t match what you actually need to achieve.
Absolutely.
So, you need to make sure that balance is really well.
Obviously like anything going into property development comes with risk and you’ve highlighted some of the challenges, especially in the most recent couple of years that have come into the market and that’s across the board. That’s obviously something that most developers are experiencing, but there’s obviously enormous benefit and it’s a reason why people are still completing these projects and they are still looking for sites that can be developed. So what would you say are some of the biggest benefits or the top benefits associated with the small scale developments that you’ve done?
I think the biggest benefit is that instant equity that you can create through building it might be one to two year project and having that instant equity and not waiting for the growth in the market to push up to make that feasible. I think some of the challenges I think is also the time that it takes to build projects and also the feasibility, especially with the prices that have continually gone up that we’ve seen in Brisbane, finding blocks that are feasible or that stack up has I think pushed a lot of developers out of the market recently and I think that they are now starting to come back because of the growth that’s happened recently.
Common Mistakes in Development
Instant equities, a really interesting one and I think we’re going to touch on this a little later in this podcast because when you talk about instant equity, I’m assuming it means that you’re holding onto the end product or potentially there’s the opportunity to sell. So we’ll talk about that in a little while, but what are some of the biggest mistakes you’ve seen other people make in relation to these small scale developments that you’ve been involved in For many years?
Yes, I’ve actually seen quite a few people buy properties that one are either got a protection on the house that actually can’t be developed, it might be flood impacted, so that’s going to be a whole lot more costing involved into potentially building and might even prevent you building on that site. So there’s quite a lot that comes through that I see personally and also people relying on what’s been told and what’s been advertised as opposed to doing their own research and due diligence on the block themselves.
Yeah, the character one’s a big thing in Brisbane when we look at character overlays as well, whether you can knock the house down, how much you can do it, whether you can do any demolition at all. When you touched on the flood, obviously our listeners who aren’t Brisbane, there’s so many different types of flooding in Brisbane as well. A simple thing like overland flow, which people probably don’t even realise that can have a massive impact on what you can actually do on that development side as well. The other one, which you probably don’t get as much when it’s a knockdown rebuild maybe a bit more when it, and it’s obviously something to be really important because it’ll affect your construction costs is you fall with the land.
Yeah, absolutely.
If you don’t want the land falling back into the property because you’ve got to get the water off the site.
Absolutely.
That’s one thing I’ve seen a lot of and I sort of cringe when I see people put it up to say bought this development site and I’m looking and I go, whoa, good luck with that. That’s going to be tough.
Well I think that you make the money on the way in, not necessarily on the way out. It’s about site selection and if you can buy a site that’s potentially going to prohibit additional costs, anything that’s got water is going to potentially trigger hydraulic engineering reports that’s going to increase your development costs. Anything that has heavy fall that’s going to trigger retaining potentially. And of course that then increases development costs or end product costs as well. So these are all things that experienced developers are aware of, but perhaps those looking to start in their property development journey, these are the things that they can get stuck upon and it can actually cause some major headaches for developers that aren’t as familiar with the process.
And you’ve done some properties where you’ve probably held them longer term short term. There’s obviously different areas of this and I’m not a financial advisor in any way, shape or form here, but doing that diversification for income streams and that type of thing, there’s obviously different ways. Obviously your accounting background would help you on this side of things, but people can benefit from different ways they do it, correct.
Yeah, absolutely.
Airbnb as a Strategy for Income
So I’m going to ask more specifically about a couple of strategies that I know you have experience with if that’s okay, Andy. The first of those is Airbnb. Now this is something that’s often talked about but a lot of people don’t know the best way to go about this. I would love for you to share with our listeners how you’ve used BNB as a way to potentially boost or increase that holding income on the end product after you’ve built the development.
Absolutely. So I did a development in Brisbane, two houses quite similar next door to each other and one is being rented out to a family and I lived into one. I also rented out rooms in that house, so it was a share house and that was to boost up that income side of things. Got to a stage where I was moving out into another development and decided to Airbnb that house out. It was partially furnished so I did have to add more beds to the bedrooms and get that house to a liveable and rentable estate through Airbnb. I did reach out to a few platforms to see if they could manage it and they did seem to charge quite extensive costs to manage that side of things. So I thought I’d give it a go for six months and what would be the worst case is I could just rent that house back out to a family.
Managing an Airbnb Property
Sorry, the Airbnb, Andy. So just, I mean I’m not overly familiar with it. So you manage it yourself?
I do, yes.
Okay. And what about the cleaning and that sort of thing? Obviously you get someone to come in and do all that work.
Good point and I think what’s actually made it beneficial for my Airbnb is definitely having a good cleaner, a reliable cleaner. I think I’ve cleaned the house personally once in the last 12 months.
That’s enough.
That’s enough. So a good cleaner that keeps the house spotless because that’s going to bring in good ratings and the cleaner that can do the linen and the washing and all that sort of thing and can also help with the management side of things.
That’s really a big benefit to you. So when you were exploring property or Airbnb managers, can you recall what sort of charges they were going to be putting in place to manage that? Do you recall what those costs were?
Yeah, I reached out to a couple and they were very similar. I think they were charging 20% of the total income that was generated through Airbnb. There was obviously fees that you would pay to Airbnb for the hosting fees and then obviously the cleaning fees. So when I was running the numbers on those, it didn’t look too feasible with that 20% management. I did have a friend who runs their own Airbnb that I reached out to and he said that this is something that you could manage yourself. It doesn’t take a lot of time. So that’s the avenue I went down to try that out and so far it’s proven quite lucrative. Lucrative
And living there with the Airbnb side of it seems to work out okay. Obviously you’ve probably got more control over it then as well.
No, I’m not living there. I think that would be very hard to run an Airbnb house with you living in that part particular property unless it was completely sort of locked off and separate from that particular house. This is a big five bedroom house where it didn’t have that ability, so I actually moved out of that house and rented the house as a whole. Yep.
So just to help listeners understand a 20% management fee for short-term Airbnb rental versus something around the vicinity of seven to 8% for a long-term property manager for long-term tenants, that’s about the difference. So you’re looking maybe somewhere between 13% of difference there. The fact that you are saving that is absolutely brilliant. From a cashflow perspective, can I get an indication from you if you were to compare what you would have achieved on the long-term rental market versus what you’re achieving through the Airbnb market, is there much of a difference in terms of the income?
There is quite a lot of difference. Just recently doing a recent tax return, the house I spoke to just before, very similar house, five bedroom house, two story that was built three or four years ago that was generating about $50,000 a year rent. There’s probably about $5,000 of that was agent’s fees whilst the Airbnb was generating about double that.
Double? So, you can see how it can be a very lucrative business if you have the capacity to be able to manage it yourself. I think even with a 20% management fee off the back of a 100% increase in income on an Airbnb property, it would still actually come out ahead in terms of the numbers. I think the biggest difference is that when you rent a property to the long-term rental market, it is unfurnished typically, whereas with an Airbnb property you have to furnish that property and provide all of the goods that people need to enjoy that place.
Absolutely, yes.
Cups, plates, knives, forks, linen.
Shampoo, toilet paper, all these.
All the above. So obviously just weighing that up, but gee, those numbers are actually quite impressive and it’s really good for our listeners to understand the difference because these are options that are currently available and we’re very respectful of the fact that right now we do have some really tight tenancy. So, for complete transparency, we are not spruiking or encouraging people to pull their properties off the long-term rental market to pop them into short-term rentals like this. We are simply outlining for people that have investment properties, different strategies that are available to them to generate income from those assets and that’s been a really great example of one method that people are already using to generate income that may be higher than that long-term rental market, but of course it comes with extra time as you’ve pointed out Andy, you are managing that yourself as opposed to paying someone else to manage that for them, but definitely sounds to be quite lucrative.
Yeah, I agree with what Melinda said. It comes down to the individuals. I mean we’ve got properties ourself, would I do it at Airbnb? Probably not because we don’t have the time. It doesn’t suit our style and the way that we want to operate, but yourself, you’ve probably got the time to be able to do it and the capacity or the knowledge to do that type of Airbnb setup, which works perfectly.
I think it’s actually important to add that it’s the location that’s really going to make that Airbnb be successful or not being close to the airport, easy access into the city. I think that all plays a part when people look to book an Airbnb, they don’t want to be traveling too far out. They’re usually there to enjoy the city or surrounding areas and they want public transport close by. So my particular house does tick that box, so each Airbnb is obviously going to perform different, but I think location is definitely key.
You’ve only got to consider what you want when you go away yourself.
Absolutely.
When we went away and we stayed at Airbnb’s, we wanted location, which we talked, you mentioned straight away access to transport, access to all the facilities and obviously a good property as well. But yeah, location is really important.
Renting by the Room Strategy
Very good point, yes. Can I also touch on another method that you’ve used Andy and you talked about this when you’ve lived in a product that you’ve built, you’ve also explored renting by the room. Can you share with our listeners a little about what that experience has been like for you?
So yeah, a few developments that I’ve done, I’ve actually moved into, particularly for capital gains purposes, I won’t delve into that too much, but moving into a house and then renting out those rooms, sometimes I’ve managed them myself or sometimes I’ve got a real estate agent to manage those for me. I’ve found that to be quite beneficial in terms of producing high income for the house room by room was generating much more than if you were renting out the house itself also had the added benefit of me living there rent free. So that was also an added benefit, but also, yeah, it all comes down to the income being produced.
Absolutely, and I will just say for listeners, yes, Andy is an accountant, but we are not providing advice in this podcast episode. We’re simply outlining something that is an option available to people and we always encourage people to get advice from their own accountant in terms of what are the tax implications associated with certain strategies. Of course, capital gains tax, it’s not something that we’re able to advise any of our clients on and certainly not our listeners of our podcast. So you do need to seek advice from your accountant if you’re looking to explore some of these types of ventures so that you can understand what that does for your personal tax situation
Holding vs. Selling Developments
And holding whether you hold property, I mean some people we’ve had people talk to us and say, I want to do a development and I want to flick it straight away and I want to make money on it. Obviously there’s a lot of impact. When you talked earlier on about construction costs, labour availability, you’re holding costs, there’s a lot of costs involved in it, obviously then buying and selling property, there’s the cost obviously of buying and selling property, so your stamp duties, your agent’s fees, all those types of things as opposed to holding onto them and renting them. How do you see that sort of play? What sort of things can people consider when they’re looking to sell?
I think for me personally, when I was considering it, it was really the borrowing capacity to be able to go again. I would always love to hold the properties as long as I possibly can, but obviously you’ve got loan and debt and buffers to future borrowing and that was impacting. So that’s the only time that I’d consider for myself personally would be selling and that’s because of the opportunity cost of potentially doing another development that might be a bit more lucrative, but ideally it would be to hold long-term. What I’ve also found with building new is that you do have the benefit of being a brand new house. It rents really well, you’ve got tax benefits associated with that, with depreciation and things like that. And that property is usually always going to be of high interest and families are going to sworn to those sort of newly built homes that they plan to live in for long term.
Yeah, I think it’s important for anyone that’s looking to explore property development as a way to improve their position to really understand what is the purpose, is it going to be to generate additional income now, which typically will be associated with a sell strategy upon completion or is it to build wealth and is it to actually create that equity through the development process and then leverage from that equity to actually go again and again and again. And as Andy pointed out, there’s definitely some very strong depreciation benefits associated with refinancing properties once they are complete and renting them out or exploring other options for how you’re going to generate income. It’s just important that as a property investor or a property developer, you understand what your intent is and I would always recommend speaking to your accountant before you actually get into the development so that you can clearly articulate what the intent is upon completion because that may also have an impact on the structure that you are advised to use throughout that development process because there’s going to be tax implications associated with a buy and sell strategy as well as a buy and hold strategy and they may actually alter the advice that you receive. So it’s important to understand your exit or how you intend to complete the project before you actually start and have those conversations with your professional advisors.
Tips for Development Beginners
Andy, for our listeners, can you give them some sort of tips or some suggestions on something they might have to consider when they’re looking at different strategies? So if they’re looking at a short term buy, build, sell or if they’re looking to something they might want to hold for a little bit longer, what are some key sort of things you’d probably suggest to consider?
I think if they’re looking to sell quite quickly to make a profit is the tax implications of that your capital gains or whether you’re running it through a company and paying your company tax on that. So that’s something definitely to consider. There is going to be associated costs with that holding long-term. Obviously you’ve got depreciation benefits that you can offset against income and also your loan that can offset against the income. Again, this is getting into more taxation advice, which we’re not looking to specify here. So I mean it’s if you’re looking to hold long-term, that might be something you do in your own name as opposed of a company. But yeah, there is sort of multiple structures that can probably bought through.
The Importance of Planning and the Right Team
And I think that Andy’s definitely highlighted his own personal experience in sharing the story and sharing some pros and cons of different approaches, but I just can’t stress enough, everyone’s situation is going to be different. So it is just important to get the advice that you need from your own professional advisors to ensure that the strategy that you’re choosing aligns with your tax profile and also your risk appetite because there’s definitely risk involved. Is there not?
Absolutely. There’s a lot of risk involved in development and I think doing your due diligence is something you need to spend a lot of time in doing. Looking at your goals when you’re looking to potentially sell that property, how long are you looking to hold that property? It all plays a part and there’s definitely risks involved, but that comes with a real reward.
Absolutely.
That’s associated with that as well.
Future Plans
It’s always the same generally with any property investment. The lower the risk, sometimes the lower the reward, but the higher the risk, sometimes the higher the reward. We certainly find that in that property investing, that property developing space. What’s next? Andy? I believe you’ve just about completed a current project that’s being finalised.
It is currently should be a few weeks away from moving in. Hopefully what next is probably looking for a property that I can sit and hold on and to develop further down the track. I don’t want to necessarily want to develop straight away. I think I might be looking to sort of land bank that waiting for the growth in the area before considering doing a development. I don’t think the affordability of what I can afford is going to be something that I can develop straight away. It might be just waiting for the growth in the market.
That’ll give you a bit more time for golf. I do know that Andy’s a bit of an avid golf fan and plays quite a bit of golf out at Nudgey, is that right?
Yeah, absolutely. Yeah, every Sunday.
Yep. So there you go. It gives you a bit more time for golf when you’re not doing the developments too.
Yeah, absolutely. Yeah,
And I do know it’s a great next step and it’s always good for property developers but also investors to have that plan in place so that what is the next step in a market like we have in Brisbane at the moment, we are seeing that there is capital appreciation. Property values are increasing month on month. And so from a development perspective, the price to get into the market is experiencing escalation or price creep. And what that means is that when you’re looking from the end sales, the feasibility model of what the property might sell for and yet the buy costs and the construction costs and the timeframes are potentially more uncertain, it’s sometimes safer to get the site land bank that site. And when you know the numbers stack up and become feasible, then push ahead with the development. So that’s one way that you can mitigate some risk within that development process. And we’re definitely seeing a lot of clients that we’ve represented within our business that have purchased sites that can be developed, but they are land banking those sites because obviously that’s going to give them more certainty over the profits that they’re going to achieve upon completion.
Not a bad strategy when the market’s moving the way that it has been and still is and the forecast for Brisbane are very strong, not a bad strategy to buy land bank and obviously have that there because if the market keeps moving, you say, well, I won’t buy it now, I’ll wait for later. You’ve missed out on that capital gain side of it as well. There’s a couple of key things I’ve taken away from what we’ve spoken about for people that are thinking about developments. So when you mentioned a lot of things about construction costs, the buy-in what the end product’s to be, character overlays, all those types of things, do your research is probably the biggest thing. One of the things, the other one, is planning and to be organised. And I guess the last one from my side of its, have a good team around you. Absolutely the right type of people, whether it’s a buyer’s agent, whether it’s an accountant, whether it’s your town planner, your builder. If you’ve got the right team and you work closely with that team, that’ll actually make life a lot easier as well.
Absolutely. Yeah. I think also when you’re sort of starting out to get into the development, going too heavy or too strong is going to be very risky. I think starting small, it might even just be a block of land or a simple knockdown house and just the one build as opposed to potentially looking to knock down subdivide and build multiple houses on that side. I think it’s important to sort of be risk averse in the two different sort of scenarios, especially when you’re first starting out.
Melinda, takeaways?
Yeah, well excellent advice and the big takeaway that I take from this is that they’re not creating any more land. So when there’s a scarcity of land and yet the ability to multiply the dwellings on that particular site, I feel like those sort of opportunities are going to come with the maximum potential for equity uplift into the future. So land banking right now, really clever strategy because 10 years from now there will be even less land that is developable in our city of Brisbane. So lots of key takeaways today for those that are considering small scale developments here in Brisbane, there’s not a lot of great sites left and they’re getting harder to source, but they are still out there.
They are, yes. And I think as people are developing more and more, those potential development sites are becoming less and less and coming up less often and when they do come up, they are selling for a lot of money.
Premium. Yeah.
Closing Remarks
Excellent. A little bit of information there of Andy’s background, some experience, some sharing, some tips for all our listeners. Thanks very much for joining us. And if you do see any of the team out and about, we see Andy at an inspection on the weekend with his Streamline shirt on, tap him on the shoulder and say hello. We always love it when people say hello to us and they’ve hurt us on the podcast. So yeah, say hello to us. Hopefully that’s been good information. As usual, I will let Melinda wrap things up and say goodbye from myself again. Thanks Andy, and thanks for our listeners and we’ll talk next week. Thanks very much. Bye for now.
Yes, I’d also like to say thanks Andy, for sharing your journey with our listeners today.
Thanks very much and it’s been great to be on board. Yeah.
Absolutely. And hopefully you’ve taken some key ideas and things from this podcast today. Andy’s certainly been able to share lots of different strategies with us in terms of how we can think about property development and how we can potentially diversify some of those income streams from property as well. Even if it’s not a brand new development, it may be an existing property. So lots of key takeaways. Thank you Andy, for sharing all of those insights. As always, if you have enjoyed this episode, please share with friends and families. We would love for you to leave us a review on whatever platform you’re listening to and don’t forget to hit that subscribe button until next week. Have a good one and bye for now.