59: Morals & Ethics

Lazy Money Machine

David starts explaining by how it is possible to make money buying and selling in the current market which in New Zealand at the moment is very strong.
David buys a property, does the necessary repairs and compliance work, and makes it ready for investors to take purchase. If the buyer does not renovate themselves, David’s team hands over all the quotes he has for the renovation together with the property so the buyer can do the work themselves. This way he takes the uncertainty out of the deals for the buyers/investors.
We tend to focus on 2 very important levers in the property business:
How to add value and how can we generate a cashflow out of the property
We discuss what is holding many people with cashback from going all out in property investing is the leveraging or lending part of the business. This is scary for some especially the slightly older investors. Once we get them over the fear of lending, we can leverage this equity into a cash flowing property portfolio.
David has a story around Morals & Ethics that happened today.
David had a contract on selling a property with a buyer and investor signed when he received 2 offers that were higher, One of them 40.000 more than the deal David had done with the buyer. David went back to the investor and split the difference of the 40k more on the deal. This way it is a win-win for everyone. Morally it was wrong to get out of the agreement and take the 40k extra profit.
We discuss the morals & ethics in doing business and how if you not use this in doing business it will come back to you someday. Traces of what you do are around forever and can be found on the internet easily.
How about masculine and feminine energy :-) what does that have to do with morals & ethics lets check in with David on this.
Lastly, we talk about freely sharing knowledge and helping people and how doing good is coming back to us.