2 Properties Before She Turned 30 – Interview With Lisa Tran

https://www.youtube.com/watch?v=b3IomyO5Q3w Lisa Tran has been able to purchase 2 properties by the age of 30 and start her own successful business. 0:00 - Introduction1:00 - How did Lisa started in property?4:00 - First property details6:40 - Lisa's second property8:35 - Lisa's long term strategy14:57 - Using a buyer's agent18:00 - Lisa's next steps23:30 - Biggest takeaways Recommended Videos: Lisa's Video Transcription Ryan 0:00Today, I'm really excited because I'm interviewing a very inspirational woman who has been able to buy two properties before the age of 30 and start her own successful tutoring business as well. So today, I'm really excited to talk to Lisa Tran about just her property journey, how she got into property, some of the things that she's learned along the way. So hi, Lisa, thanks for coming on today. Lisa 0:24Hey, thanks for having me. I'm so excited. I've been watching you for so long. This is a little bit surreal. So Ryan 0:30yeah, it's also because you texted me or you commented on a YouTube thing saying I did a video and mentioned you. And I was just like, it came at just the right time, because I was like, Okay, I want to get back into talking to people who are out there just doing their thing, investing in property, creating the life that they want. And I was like, Oh, this person, I watched some of your videos. I'm like, Yeah, she she lines up, this is going to be great. So do you want to tell the people out there a bit about your property journey? Let's start, you know, way back at the beginning. When did you start becoming interesting? Interested in property? Lisa 1:06Yeah, sure. So I guess my journey is a little bit of a different one, because my interest in property came much later than when I actually purchased the first property, which seems a bit odd. Ryan 1:22So you purchase property before you actually interested in it. Lisa 1:27So when I was 23, my parents had been pretty interested in property themselves. I had a couple of properties themselves. And they're like, Lisa, you know, you got to get in on this. This is how you make money. It's not about the job. It's about, like, how much land do you have? So I was 23. I was studying pharmacy at the time, I was doing my internship. So it was a really busy year for me. So I had no interest in property whatsoever. But my mom was just like, you know, I'm gonna do all the research for you. I'm going to get out there and, you know, do the bidding for you. You just pay the mortgage. And I was like, oh, okay, sure. And I had no idea what I was committing myself to. Is this. Ryan 2:12Is this like, a parental obligation thing? Like you felt like, Oh, I have to do this because mom said it. Lisa 2:18I think sorry. But I guess like, I am also quite. I'm like the ideal child, I'd say I'm very like, yep, I'll just follow insert with what you want. As opposed to, like, verbally? Ryan 2:33Not me. I'm definitely not the ideal child. Lisa 2:36Yeah, definitely a parental pleaser, like, I just want to make my parents happy. Um, so yeah, I guess in that sense, I was actually really lucky and privileged to have parents who actually kind of knew what they were doing and got my foot in the door a lot sooner than I would have if I was to be interested in property, which only came down several years later. So yeah, I purchased that property when I was 23. Signing paying. I have saved my deposit. So I've been working, you know, from when I was 19, through 23, as a pharmacy assistant, so I had the money. It was just a matter of our parents. Ryan 3:18What were you saving for then if not a property? Lisa 3:21I don't know. I don't know. Actually, it was just that the money was accumulating there. Um, I wasn't the best saver either. But I used to wag a lot of uni in order to work. So I think that's sort of how it like, worked out quite well. Yeah, like I do 20 hours to 30 hours of work each week, as opposed to go into duty. So yeah, that's how I saved up that money. And, um, when I was 27, yes, everything's just churning along. I'm doing the mortgage repayments not really thinking about anything at all. Ryan 4:02So when you're 27, let's go back to 23. And that property, where abouts did you buy? Did you buy a unit house? Was there any strategy behind that property? Lisa 4:13Yeah, so I purchased a unit. And it was just like, the truly like one step down from where we lived in Melbourne. Right. I am in Melbourne. Yeah. Um, strategy wise, I started really, it wasn't strategy. And if my parents I don't think they necessarily think of it, like strategy for their own property investments, either. Like I think it was just like, find a property that's at a good price that we can afford. And let's just like, get our foot in the door. Ryan 4:46Like kind of by holder, it'll go up over time or eventually I'll pay it off. It's no like, okay, here's the next couple of steps and this is where I'm going to end up financially. It's just okay, by it and long term. I think this will be good. Lisa 5:00Yeah, exactly, you get it. Ryan 5:02So you actually timed the Melbourne market pretty perfectly there. 2013 or 2013 was kind of right before, I guess Melbourne and Sydney both went gangbusters over, like 2014 2015 2016, like peaking in 2017. So it's like you that as timing wise, if you could have like chosen Melbourne and Sydney, like, that would kind of be the time where you'd be like, okay, yeah, this looks really promising. It makes me feel good. Like, Lisa 5:31this is what I mean. Like, I literally had no idea. Exactly. So that even though I know, and that's the thing with property, like, I feel like, the more you learn about it, the less you know, at some point. So and I know for me that I'm not property isn't my be on it indoor, like, it's not the focus of where I want to be, even though I am really interested in property, like I still got my business. So there's only so much I feel like I can learn before I'm just like, okay, but I'm just gonna make my decision now, if that makes Ryan 6:03and so do you still own that property? I'm guessing in value over time. Lisa 6:08Yes, it has, which is good. Because I was watching on your channel, and on Ben's channel about how units are not necessarily the best investment? Oh, I have it. Should I sell it? Should I not? But Ryan 6:26what am I'm just gonna hold on doesn't mean that bad investments. It's more just like people getting into it. To consider the option. Yeah. Lisa 6:33Yeah, for sure. And you learn from your mistakes. So my second property, I bought a house, which Okay, Ryan 6:39so let's move forward to the second property. So you're saying around 27, things started to change? Yeah. Lisa 6:46So 27, I have a I had a pivotal conversation with my friends. A very embarrassing one, actually. So we were talking about property. And they asked me about my property. And they will ask me questions, very basic questions like, oh, is your mortgage, a principal and interest? Or is it interest only? And I didn't have the answer for them. I had no idea what they were talking about. I felt really embarrassed as a result. So I was like, Okay, I can tell from these guys that this is something that I should know. And because of that it actually spiraled me into the rabbit hole of learning about property. And yet, it was really fun and really interesting. And I realized, you know what, I've already got one property, I might as well actually just keep going with this. Like, I feel like the first property is probably the hottest in some ways. So I'm from there. I landed on your videos, watched a few of them. Throughout 2017 2018, I think I started watching more of Ben's videos on Pumped on Property whilst watching yours. And then I got in contact with Ben and got him as a buyer's agent and eventually purchased the property at the start of 2020. Unknown Speaker 8:07That's my story. Ryan 8:08So Ryan has COVID hit you were saying off camera is when you ended up purchasing. Yes. So Lisa 8:14just before Melbourne went into lockdown, like literally three days before I flew up to Queensland had a look at the property flew back down. I didn't stay a day because I had no idea what was going on with lockdown. So I'm really glad that we were able to just yet get everything done before lockdown started. Ryan 8:32So there's a couple of questions I want to ask you. The first is, I guess, around strategy and why, like, what changed there? And talk about why you decided to go with a buyer's agent? And then yeah, I guess how things have gone, and what your plans are for the future. So let's kind of start with strategy. So 2017, you started learning more about it, and then watching my staff and then staff and 2020 was when you purchase your property? What kind of changes? Do you have a strategy now? Is that something that you're aiming towards? Or is this still just like a buy this and it'll, it'll be she'll be right. Lisa 9:11She'll be right. Yeah. Um, to be honest with you, like I do think that mentality of she'll be right is, it is bad because like, I just, I generally feel that property is a good investment, like if you do decide to hold it long time and so with my strategy, though, I do plan to hold my properties long term and to pay them off. I think I'm quite risk adverse. So to me, I think purchasing a property and doing the whole negative cash flow thing like that's a little bit scary and then like just waiting for properties to increase in price. That's not to say that I might not be awful that down the track. Um, but yeah, I'm thinking of just accumulating properties for now. At my dream, dream goal, I guess, is actually have paid off three properties. And we'll have installed the granny flat for that property I purchased in Brizzy. And then I have four incomes coming in. And then I think I should be set after that.