Property Investory
How To Go From Flipping 1 Property to 16 With Vivienne Halliday
June 6, 2021
Vivienne Halliday is a passionate property developer. With 16 renovations under her belt, there’s not much she hasn't seen during a reno. In this episode she bestows us with her wisdom, as we follow her journey from growing up in New Zealand, to escaping the high interest rates that almost sent her broke.
We hear about the predicaments she’s found herself in over the years, like accidentally renting a property to a biker gang, as well as her tips and tricks to picking a property that will give you at least a 10% turn over. All that and more on this episode of property Investory.

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Transcript:
*SHORT SNIPPET*

Vivienne Halliday 
[00:20:42] And this is the value of education, knowing what I know now like I would have kept up with those houses and would have been able to. But at that time, you went to the bank, and the bank told you what you had to do. 

*START INTRO MUSIC*

Tyrone Shum:
This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies. 

I’m Tyrone Shum, and in this episode, we’re talking with property developer Vivienne Halliday. We’ll start her journey in beautiful New Zealand, and follow along from her first reno to 16 properties! We learn how to get at least a 10% return on a reno, and how she dealt with the biker gang that ended up living in one of her properties. All that and more to come! 

*END INTRO*

*START BACKGROUND MUSIC*
   
Tyrone Shum:
Halliday is a passionate full time property developer and renovator, with a number of developed properties under her wing.

Vivienne Halliday   
[00:00:34] I've done probably about 16 renovations over time and about three subdivisions. And yeah, I just love property, anything to do with property, which sort of overtakes life sometimes. 


Tyrone Shum 
Wow, that’s a lot. What time frame did you complete those renovations?

Vivienne Halliday 
[00:01:16] It's been over a long time. I think it was the first house that we bought, we renovated and we kept on doing that over time. But then I got to do it pretty much full time and was doing it for other people as well. And now I sort of do it more as part of a subdivision. Seems to add an extra string to that. I love the old Queenslanders, it's my passion, old houses bringing them back to life.

Personal story / Background

Tyrone Shum  
Although Halliday would love to be renovating properties all day, her daily life focuses more on logistics.

Vivienne Halliday  
[00:02:02] It does change a lot. But normally, I get up, check emails, check what's on the market. I have KPIs that I try to keep to. And that involves sending out SMS’, talking to agents, sending out letters, and chasing up any potential properties that I find. You know, working out the feasibility, see whether they work. And on a Saturday, I try to get out and see those open homes so I can make the agents, put my face in front of them. So if they remember me, maybe they'll send me the deal.

Tyrone Shum  
Halliday was raised in a beautiful town, surrounded by open fields and mountains.

Vivienne Halliday   
[00:04:39] I grew up in New Zealand, a small country town in the middle of the North Island called Tamar Nui. Very small. It used to be a farming community. And that was a little hub for a lot of the farmers. 

Tyrone Shum
I wonder what that was like, growing up in a place like that

Vivienne Halliday
[00:05:09] We used to hop on bikes and drive around, you know, run around the place. And basically, it was come home, you know, mum used to have afternoon tea for us. And then we’d discover until it was time for tea, you know. So we'd be riding our pushbikes or going for bushwalks, or, you know, playing cricket across the road because the neighbour’s place, they had this huge, was almost like a football field in front of their place. So all the neighbourhood kids used to go there and play. So it was a lot freer than what we have here. 

Tyrone Shum 
[00:06:25] It's, it's lovely to hear that as well, too. So tell me a little bit more about your childhood growing up in New Zealand, then what was that, like? What was school like?

Vivienne Halliday 
[00:06:34] I was very, very lucky. I've walked about.. I don't know… 200 metres down the road to my school. It was a Catholic school. So it was quite restrictive in a way. But we had, we always found ways to have fun, like, it was cold in New Zealand and Taumarunui. And so like, we used to sneak out it at nighttime, and get the hose on and put it on the netball courts. And then we'd sort of like get there in the morning and they'd be ice all over the netball courts. So we’d slide all over the netball courts. And of course, the nuns were not very happy with that. But yeah, we’d find some fun things to do like that. Yeah, climbing trees and things like that my brother used to help me up and leave me up there. 

Tyrone Shum    
Her relationship with her brother was a pretty typical one, they caused each other a lot of chaos, as siblings do. 

Vivienne Halliday  
[00:07:45] He was just more mischievous than I was because he was younger and faster. And I think when I was probably about 10, mum went back to work. So I stayed home with him. And he was being cheeky with me. So I gave him a clip round the ear. Well, he chased me around the house. And he was catching me. So I shut the door behind me. And of course, he was so close that he couldn't stop. So we went straight through this glass door. And I was like, Ah, no, I am going to be in the biggest trouble ever. But surprisingly, I wasn't. Like I'd actually sort of handled the situation, he’d been cut over his head and blood everywhere. So I sort of did the right thing. Got the right neighbour in. So, I didn't get in as much trouble as I thought I would. But yeah, we got into a little bit of mischief.

Tyrone Shum   
Eventually, she moved from New Zealand to Australia. She wanted to see what opportunities she could find elsewhere. 

Vivienne Halliday   
[00:09:20] From high school, although not straight away, I actually moved over here. After I was working for a little while, I decided to do TAFE part-time and do an Advanced Diploma in accounting. And then it wasn't until my daughter was probably two that I upgraded that and five subjects that you need to upgrade, so that I could get an accountants degree. But funnily enough, I never really used it that much. I actually got a job bookkeeping and then went from there. So It's good to have that knowledge in the background.

Tyrone Shum   
It’s no secret that having kids is difficult, so how did she manage to study while she had a two-year-old? 

Vivienne Halliday   
[00:10:25] I just did it part-time. So I sort of did just one unit at a time. So over two and a half years, I got that degree done. So it was hard, but my husband used to work the night shift and so forth. And sometimes he would have a day off, just so I can get in there and cram and do what I had to. Just snippets here and snippets there, as I'm sure a lot of people have done. I don't envy anyone doing a full-time degree and working, it must be so hard.

Tyrone Shum  
She explained what her life looked like after high school and before Tafe. 

Vivienne Halliday   
[00:11:15] First job I actually did leaving school, I actually worked in a laboratory. I used to do blood tests. And because it was country, we used to do like test some horses and cows and things as well. And I used to take blood. So I remember that you'd quite often say see the guys more than the girls walk in and go, you know, it's like looking at you with terrified eyes. And you just sort of say would you like to lie down? They go oh, yes yes yes. So it was fun. It was just a small community hospital, everybody got along and everyone knew each other. And yeah, it was quite a hub in that area is probably all changed now. And then I got an offer of a job at the ANZ bank. So I was a teller there for a few years and then moved up to the bank up in Auckland.

Tyrone Shum
When she moved to Australia, she didn't find home right away

Vivienne Halliday 
[00:12:38] I have actually moved around. I moved to Melbourne first up. And I got a job there at Telstra. I used to run the little phone shop there for a while, that was when the Nokia-Erica phones were big, and the commanders and that were in those like so long ago that I'm sure that antiques now. And then my mum got sick, she'd actually moved over after me to Brisbane and so I got transferred up to Brisbane. So I was in Brisbane for quite a while until I met my husband. And he was actually down in Coffs. So I went to Coffs Harbour back to Brisbane. When we got married we actually went to Mount Iser which was his first posting with the railways. And then we went to MacKay and then back to Brisbane. 

Tyrone shum 
[13:32] what was your husband doing back then? 

Vivienne Halliday
[00:13:36] When I met him, he was just working in a service station. But he had worked in the railways for about probably eight years before that. But had to move down to Coffs, he had a previous wife who was sick, so was there and she passed away. So when I met him, we sort of thought, well, we'll come back to Brisbane and he got back into the railways again. So it was working from the railways that went out to Mount Iser. 

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Tyrone Shum
Coming up after the break we learn how Halliday was able to afford her first property

Vivienne Halliday
[00:16:46] “And that actually helped us get through and pay those ridiculous interest rates.”  

Tyrone Shum
We hear about the unpredictable side of renting your properties  

Vivienne Halliday
[00:19:24] “We actually rented that out, had a biker gang living in there for a while”  

Tyrone Shum
We learn about the criteria Halliday uses when looking for a property to flip 

Vivienne Halliday
[00:26:17] “But I always sort of look, I suppose for properties, where you can add something different to it. 

Tyrone Shum
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

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Property journey

Tyrone Shum
Halliday says that property is a relationship business, especially during the acquisition part of the journey.

Vivienne Halliday  
[00:03:28] Even when I renovate, I'm always looking at what I'm giving back to the market and what sort of people are looking for it's that relationship of providing what they want. 
That buyers, it's the same sort of thing. What do they want? It's trying to give them what they need. And creating relationships. The acquisition part I always find tricky. It always takes a lot of time. Once you've got it. It's just a process. So getting that acquisition is definitely… I think the biggest part probably, of the journey.

Tyrone Shum   
Halliday was able to kill two birds with one stone by getting into the property game to help her mother.

Vivienne Halliday  
[00:15:41] The first property that I bought, my mother needed help with a loan back in those days, it was really hard for an older person, and she was not really old, she was only probably 40s or 50s to get a loan. So I actually went half with her in a house ticket so that she could get this house. And that was sort of, you know like she lived in it. And I just sort of pay part towards it. And we renovated that a bit. And then when we had the 17% interest rates that were horrendous. I was actually working in a hardware (store), which I loved because there was always something different every day. So that was sort of partly my interest in property. And the guy that I was working for helped us build underneath the house. So my mum had a granny flat underneath. And we rented out up top. And that actually helped us get through and pay those ridiculous interest rates. So that was my first foray into property. And we kept that property for ages. I've only sold it probably four or five years ago.

Tyrone Shum   
Although it wasn't exactly above board, the property was in a good area and it served them well.

Vivienne Halliday  
[00:17:22] It was just basically where mum wanted to live. It was a high set in that area. So not a Queenslander type. But so it was up on stamps, it was concreted underneath. And you know, it wasn't legal height, but it was actually quite comfortable. Or he had windows and sliding doors and things like that. So we didn't have to do too much to it. Obviously highly illegal, like you wouldn't get away with it today. But back then you could, everybody was doing it, councils didn't really... you know, check. And it sort of served us right, it was on the train line, you know, had access to her work, which meant when we went to sell it it was is in high demand even though it wasn't legal, people could see that it was sort of done nicely and you know, would rent or you could sort of have mum and dad and kids or whatever there.

Tyrone Shum  
After buying her first property with her mum, Halliday realised the power of building to rent for an additional income, and soon enough she got her husband on board. 

Vivienne Halliday  
[00:18:46]  When we got together he had a house in Coffs Harbour so we actually sold that and we bought one in Brisbane. And we've renovated that. It was in the era of you know, the mission Brown. So we changed it to a beautiful apricot, oh my god. I walk into a house now that's got that I’m going oh I’m so sorry for the people that bought my house. But, you know, so we started to renovate that one, and then because we moved we actually rented that out for a while. Had a biker gang living in there for a while but my dad sort of actually scared the lady off. And so she left in the biker gang with her. But that’s a whole other story. 

So we rented that and then we moved to Mount Iser, which we just lived in normal accommodation, and then we moved to McKay, where we bought another house and renovated that. And then we add a granny flat onto the back of that one that sort of started to be a bit of a pattern from there. I think. Because I'd seen when mum was at the, you know, in mums first house how much difference building that granny flat in gave us that extra income so that we could rent upstairs she could live downstairs, it was always in the back of my mind. So when we had the house in McKay, we actually built a granny flat at the back and legal this time. And we rented like my mom actually moved out. But we could rent that out if we wanted to, you know. And we had that we were in McKay for about eight years until we sold. 

And this is the value of education, knowing what I know now like I would have kept up with those houses and would have been able to. But at that time, you went to the bank, and the bank told you what you had to do. And you just did what you were told so. It's funny, like, when I look at sometimes for a house for myself, I used to go down to my mom's house and said to her, I really like to live there, you know, and this is a place on the water. And I thought I'd just like to be able to walk to the beach, it'd be lovely. And when we came down, I actually found a house in that suburb that was just right for us. So and I've done that a couple of times. So it's quite interesting. How when you sort of like stick something in your mind, it sort of works that way into reality. 

Tyrone shum 
She shares a piece of advice that she’s learned along the way

Vivienne Halliday
[00:21:45] But now I sort of realised that, yeah, be careful what you wish for. I had bought some investments along the way, but they always seem to be Dual occ or something that I could make into dual occupancy to get that two strings of income through. 

Tyrone Shum  
[00:22:13]  that really makes a huge difference to the cash flow to be able to sustain and keep these properties, especially for portfolio that you're growing. So I'm assuming there was positive cash flow, every time you bought these two off properties?

Vivienne Halliday
[00:22:29] They were close to positive, but if they weren't positive, they paid for themselves. So, when the interest rates would go up, you know, you might have a short, you know, small shorts. But most of the time, they sort of covered their own expenses. 

Tyrone Shum  
While selling renos seems glamorous, you need to do the dirty work first. And any good developer knows you might have to live in them mid-reno, which can get messy. 

Vivienne Halliday
[00:23:06] I suppose pulling out the kitchen is always tricky. But we’re campers so we sort of have all the gear, we can just sort of like, put it in another room and set it up. I actually sometimes when I've got a Queenslander that I'm renovating, I'll go and stay in it. Because I actually live down the Gold Coast now and I do all my renovating and investing in Brisbane. And sometimes it's just you know, if you put in a big day, it's really hard work to sort of getting back down to the coast just to turn around and go back up. So I will quite often have a blow-up mattress and you know, like food. As long as I've got a toilet in the shower, I'm happy. Yeah, so I can live through a reno, but not many people can. I didn't do that many with the family like rip it apart. And a lot of them, the granny flat is in a separate area. So that wasn't so bad either. So but yeah, yeah, just trying to try to organise it so you still got a bathroom function and some way to cook. 

Tyrone Shum  
While she’s flipped heaps of properties alone, she enjoys it more when she gets to work with a friend. 

Vivienne Halliday  
[00:24:38] I did a reno up Toowoomba, and if you sort of took away the part of the driving up there and back, because that wasn't fun. It was two hours up and two hours back. But I actually did that with a friend and I just love doing it with somebody, it's a lot more fun. I've done quite a few JV’s in my time, which is joint ventures, and I love doing it with other people. It's great to sort of have that feedback and not so much needing the advice, but you know, it's just fun. Just doing it with somebody else.

Tyrone Shum  
Halliday talks us through her process, from her criteria to when she sells the property. 


Vivienne Halliday 
[00:25:56] Most of my Renos have been buy, reno and hold. Although I have done some buy, reno and sell, I usually look for a 10% return. And you know, that will vary depending on the price of the house. Because obviously, you know, you don’t want to do it for nothing. But I always sort of look, I suppose for properties, where you can add something different to it, where you can make a point of difference. The Queensland are amazing because they have all these little nooks and crannies that you can add on suits and robes. Just by bringing it back to life, new kitchen, new bathroom. It makes a huge difference to the property. So I look for something that I can add different. And I always look for something that the market is looking for. So if it's in a family area, I try to make it family-friendly. If it's in like the new market, one that I just did, it was like a younger sort of more hip sort of you more professional area. So a big yard wasn't important and you know, entertaining was. That sort of thing. 

Tyrone Shum  
What exactly does Halliday look for in a property ?

Vivienne Halliday  
[00:27:53]  I have a criteria. And obviously, it's a return that I'm looking for. But I've also found that it can take a while to get a deal. But, a lot of it is mindset. I actually got a mentor, young new and a little while back, about two and a half years ago, because I was stuck. And I wasn't I wasn't moving forward, and I couldn't figure out what it was. And the mindset is so powerful. It's getting in there and knowing, well doing the do. But also focus and clarity in what you want. And those sorts of things really make the difference. It's not just the mechanics of talking to agents and things, your belief, you know, how do you find what you're looking for if you don't know what you're looking for, that sort of thing. Being laser-focused and knowing your market.

Tyrone Shum  
While the queen of renos has built up an impressive portfolio, she’s decided to move on from building, and delve into the next stage of her career. 

Vivienne Halliday 
[00:00:17] I'm sort of going into my next phase of trying to get higher growth, higher income. So I've sold two last year, and I'm actually selling another one this year. So I used to have probably about eight, eight in the portfolio. Anything that wasn't performing as well as what I wanted, I sort of sold down, if I'd sold it another year later, it would have been really, really great, but you get that it's just the way the property's market goes. And, yeah, so I'd sort of collected quite a few along the way as buy and holds, always waiting for that market to go up. And so never really, the rents never went up in that area, or the market didn't go up in that area. So I've actually been a lot more focused on actually creating the return more so at the moment, which is what my mini boarding houses have been doing. So I've sort of changed focus a little bit in the last little while. I've always been quite successful, you know, the ones that I sold, I would have made 100 - 150 each time, but you know, there's always been that one or two that haven't sort of quite worked out, as you say, but that's part of the process. 

Tyrone Shum  
She explained how selling some of her properties gave her better borrowing opportunities. 

Vivienne Halliday  
[00:02:13] It just sort of meant that borrowing ability was better. So I could actually borrow more to get back into the ones that I wanted to. And pay down some of the debt that I had. I know, friends of mine have said they wouldn't be able to sleep at night, if they had the amount of debt that I had. I don't see it as that. I just see it, as you know, it’s just the cost of doing business. I've got this property that covers that, and I've got income that pays for it. So it doesn't really worry me, because I know that I can always deal with whatever comes along. It's, it's, you know, like, if something breaks, I can fix it, people still need to rent houses to live in. So it's not like, I'm investing in something that nobody will ever want. They're all in good areas, you know, that sort of thing. So it's never been a problem that way. But yeah, like, I suppose you'd need to put yourself in a position that you can keep moving forward. So that's why I was selling them down.

Tyrone Shum    
With the amount of experience Halliday has, you’d assume her aha moment happened early in her career, but surprisingly it was with her most recent development. 

Vivienne Halliday 
[00:03:47] I had been struggling trying to find my next deal. And I'd also been looking for something that I could retrofit to any boarding house. So that means that it's a council approved house. So it's a residential house that you can rent separate rooms, and they'll be self-contained, which is a really big thing with COVID, having little separate rooms and things. And I've been looking quite hard for this property to renovate. And I came across a property that I automatically thought: yeah, I can renovate this into a mini boarding house. And I'm going: hang on a second, I can actually subdivide this and put a new mini boarding house on the back of it. And I go, I'm just not looking big enough, you know. So it was just looking at what was available and seeing the different things that you can make out of a property. And it was all you know, like looking at things differently.

Tyrone Shum  
Halliday continues to break down the ins and outs of her most recent development

Vivienne Halliday   
[00:05:20] So these are still residential properties, and they're still in a house, but you can rent the rooms separately. And there are specific rules around them in Brisbane. I think you can do them in the Gold Coast as well in a few other areas. But this is walking distance to trains, buses, pub shopping centre, like it was in a really good position. For people that just wanted to rent a room. Sort of it has, it's quite a large room, it's not like you've got a little tiny area and you can't swing a cat in it. You've got room for a sofa and so it's quite comfortable. 

Like, if I was sort of young, again, I would just think this was the greatest thing to rent, you know, reasonably priced, you don't have to worry about anything, and you've got your own space. Instead of like, in the day having to share with a whole lot of people just to pay the rent in an old rundown house. So this is a lot nicer. And I sort of feel good about, you know, providing that to the market.

Tyrone Shum
I'd love to delve into this a little bit more. So you're buying an existing residential property. And because it can be zoned or converted into a sort of a mini boardinghouse? How many people can you actually put into these?


Vivienne Halliday   
[00:07:01] So that one there, I actually just renovated and sold. I actually did retrofit to another property that I already owned. But, yes, so the rules are a maximum of five in that property, so whether you have a couple in one room and three other rooms of singles. Or whether you have five separate ones, or whatever, but you can have more than five has to do with their insurance plus It's just council rates, it's classified as a  1b ? 

Tyrone Shum  
While the properties are subdivided, they each have their own facilities 

Vivienne Halliday    
[00:07:49] They all have their own bathroom, and especially like during COVID, and things like that, like, people didn't like sharing, if there’s sort of all these people in the one spot. And I know that was an issue and hard to sort of stop the spread and things like that. So to provide them with their own facilities, they can, you know, there's no oven or anything like that, but who needs an oven these days you have a microwave or, you know, airfryer or something like that. Or, you know, half the people don't cook these days anyway. 

So it just meant they can have a table and chairs, your own ensuite , something, you know, couch TV and their own bedroom. And I try and fit an outdoor area. I think that's what Young has done with his, so it was actually him that sort of turned the light on for me because [00:08:50] I was looking for a property and, I sort of hadn't quite clicked [00:08:59] I was just trying to buy a property and retrofit it. Whereas he was sort of saying no, create the equity in it, which is what I ended up doing by subdividing.

Tyrone Shum
Just how large are these rooms in the house?

Vivienne Halliday
[00:09:27] on the retrofit was about six by four. So about 24. Sometimes they're smaller. Sometimes they're bigger.


Tyrone Shum
So they resemble a one bedroom studio?

Vivienne Halliday 
[00:10:06] Pretty much like a one bedroom studio, but in a normal house. I think people like to have their own little space these days, and they're all kept up to code. So you know, you've got your fire safety and all that, you know, and a bit of soundproofing so that you're not going to blast the neighbour out with a TV, that sort of thing. So you have got, you know, livability. 

Tyrone Shum    
You might be wondering just how long something like that takes to build.

Vivienne Halliday  
[00:10:53] I'd say the whole process probably took about three months, maybe maybe longer. Because like, you've got to get those plans and get it certified. And the reno probably only took about two months. But the other stuff does take a while. And not everybody knows what to do with it's quite an involved process. There's lots of… it was the hardest reno 've ever had to do put it that way.

Tyrone Shum
We find out if all the hard work was worth it and if she ended up making a good return?

Vivienne Halliday  
[00:11:56] It basically changed almost by 50%, the income was, so it really made a big difference. And I've only just sort of had it fully rented since Christmas. So I'm still seeing what sort of difference the expenses are making on it, but so far, it hasn't really made too much difference. So you can have a family of five or eight, you know, like, they were going to use more power and water. So it's not necessarily going to cost more, but sometimes it will, these ones are all air conditioned. So it's likely that in the middle of summer, they will use the air conditioner for long. Especially if they're not paying extra for it. So I will be looking at how that works. And whether we put solar on the top to cover that expense, that new one that I'm building has solar on it.

Tyrone Shum
As Halliday said, one thing people tend to forget about is the expenses and responsibilities put onto the developer by the tenants. So how does she manage that?

Vivienne Halliday 
[00:13:19] I'm getting a property manager. I think it's quite involved in. I think there's lots of rules and things out there nowadays. I just prefer to have it in the hands of a good property manager, and I know that my property is being looked after then.  [00:13:58] Not every property manager will take that on. Because it is a lot more work. So there are special ones around that will actually do that. And they do a good job, too. So it's just a matter of asking around. If anyone wants to take me I'll certainly put them on the right path.

Mindset segment

Tyrone Shum  
Life isn't perfect. Everyone hits a low point with seemingly no escape. But Halliday’s mindset and curious attitude pulled her through the tough times. 

Vivienne Halliday   
[00:14:50] I know what it was like when we were faced with ridiculous Interest rates [00:15:07] Yeah. So and I know during some of those times, it's, I've, I've got a bit of a, maybe a stops in strike, maybe I think Young would call it. But I'm certainly not easily dissuaded if there's something that, you know, like not having enough money for that interest, I always ask how can I? Not, you know, like, it's all too hard, you know, like, what am I gonna do? I'm not gonna be able to pay the rent. 

I just sort of went, well, how can I create more income? How can I, you know, what can I do with what I've got that can make a better use out of it? And most of the properties I've always looked at and gone: You know, like, how can I make this better? Or I suppose that interest rate one was a real sort of wake up for me. And that was when I was early 20s. So I've always looked at things as I went along, you know, like, how can I do it? 

Tyrone Shum
Education also provided her many opportunities.

Vivienne Halliday
[00:16:17] I'd actually done a few courses on the way because like, I think the Reno kings came in, like, really early on and, and everybody said, Oh, Viv have you seen them? You have to go into that course, you know, which I did. And I actually ended up working with them as a bookkeeper and as event coordinator for quite a number of years. But yeah, so I absolutely loved that job. It was so good. And the voice was so good. I learned so much from them. So they were probably my first mentors. And they were like, I suppose in a way that was the renovation type that I actually learnt it was a real basic sort of rent or, you know, like, if you couldn't get $4, for the dollar you spend, you know, you don't do it. And that's really hard to get that sort of return. But yeah, yeah. So I was always sort of like looking for, I suppose, the edge and that, so I'm just trying to think of some of the bad experiences. 

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Tyrone Shum:
Coming up after the break we will delve more into Halliday’s savvy mindset 

Vivienne Halliday
[00:19:06] if we had that little unit underneath and rented pretty much the whole house up the top, that I would get a full income coming in

Tyrone Shum:
The ways her mentors helped her

Vivienne Halliday
[00:28:25] I can't stress enough how much the education has changed and changed my life

Tyrone Shum:
The resources she used that helped get her where she is today

Vivienne Halliday
[00:29:39] you can plug in your properties and see what was going to be left at the end owing

Tyrone Shum:
And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

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Tyrone Shum  
Halliday explained further how she saved her mother and herself from their lowest point using nothing but brains and grit. 

Vivienne Halliday  
[00:17:51] My mom was living in the house, and I was living with my boyfriend at the time. So I was sort of paying a fair chunk of my wage into the house, you know, and so was she, but it was getting to the point that she had a second job, she was cleaning toilets. I was, you know, like, I basically was putting more money, and I had hardly anything to live off. I wasn't earning a great deal of money at that time. And we're just like, going, like, what are we gonna do with this? 

And when I was at the hardware, I noticed that there was lots of, you know, peach bars and, you know, like, vanities, that just weren't quite up to modern standards. And, and I sort of said to the guys, like, what if, if I sort of took these at a discounted rate, and you know, like, you know how to build and everything. But if I paid you to do some of the building and that for me, and that gave him an income. 

But then I could sort of see that if we had that little unit underneath and rented pretty much the whole house up the top, that I would get a full income coming in and mum would be able to live there for nothing. It would be able to pay the rent. So it was you know, like I said, suppose I learnt from that, sometimes if you look outside the square or ask questions or talk to people and see what they've done. Instead of digging up or putting your head in the sand and saying it's too hard. I don't know what to do. There's usually always a way out or there's always a different way of doing things that might be better. You know, like if you talk to somebody that's been there before, they might have their opinion and it might just flick that switch for you. That makes you think outside the box and solve your problem. 

Tyrone Shum  
Motivation plays a big part in being a dedicated developer, for Halliday it isn't just her passion for renovating that keeps her going. 

Vivienne Halliday   
[00:20:54] During COVID, I suppose I'm 60 next year. And my husband's been working two on two off for quite a few years over in Western Australia. But I suppose my daughter left to go to London, which she's sort of loving sometimes and not others can't get out over there at the moment. So you know, like the typical empty nester, but my mine went down to sort of almost just me. And I sort of like looked at it and not liking this too much. And then I sort of thought, Well, okay, my husband didn't even come home for three or four months, during COVID he couldn't get back, he had to stay in Perth, so he could keep doing his job. And I just sort of thought I'm really over this. Sort of over as being separated in life and again, it was, how can I? What can I do to make this work?  

And that's, you know, like, I suppose what I was looking for was something different to get income so that he could come home more. So he, hopefully, it's all sort of starting to fall into place now that he's actually got a part time, like, so a two on six off position coming up, by the end of the year. Which, you know, his wage will drop down, but the mini boarding houses are coming up. So it's sort of like, and that was my focus that was to get my family back together, you know, to get him home. Yeah, and just sort of get a life again. But you know in that process, I've sort of gotten a life anyway. 

When you're on your own, you need to get out and talk to people, so the property community is wonderful. We get together and we can actually talk about something that we're all passionate about. But I've sort of had to learn to put a few good things in, and not just property because otherwise you know, life sort of gets a little bit one sided.

Tyrone Shum    
Although they spend time apart, Halliday’s husband is happy to help her out with renos when he can.

Vivienne Halliday   
[00:23:41] He actually did have a couple of weeks off or probably about a month off while I was renovating one of the mini boarding house. So he got hands on with that. He doesn't mind, he just doesn't Yeah, like he's not passionate about properly. If I asked him to go and do something he’ll do it but he won't sort of you know, like go out and find deals or anything like that for me. But you know that I'm happy for him to help me on the reno, it’s certainly a lot less lifting I have to do. 

Tyrone Shum  
While Halliday has tradies to help her renovate, the passionate developer can’t help herself to pitch in.

Vivienne Halliday 
[00:24:26] I have tradies but I am a little bit too hands on. Because the more hands on I am the less time I have to focus on finding the deal. So I'm learning that less. I think I've been hit sort of by Young a few times like this, like you gotta focus on the most important thing and sort of not caring stuff for your tradies. So yeah, there's some things that I enjoy doing, you know with the Queenslanders and that I enjoy doing, sort of probably fixing up the little bits, like the catches and things like that I can see. I know how to fix them and make them look good again, save a few $100 here, there and everywhere. But I'm learning that a lot of stuff can be outsourced. So. And that just means more opportunity for me that I can just do more than one deal at a time. I can do two or three.

Tyrone Shum    
Along the way she’s had a few mentors, but there was one person in particular who she remembered fondly

Vivienne Halliday 
[00:25:34] Jeff Doyd. He's just passed away not so long ago, which was a shame. But he was such a lovely guy, and so generous with his time and his information. he'll be sadly missed. 

Tyrone Shum  
She shares the other mentors, who provided her with more than just advice, and gave her experience. 

Vivienne Halliday   
[00:26:03] I suppose I actually was with the Reno kings when they started property women. So you know, at that time, property women wasn't in existence. So one of the girls that was working with the guys sort of moved, said, like, we should get the girls together. And it was true, because I worked as event coordinators for both. And when the men were in the room, the girls wouldn't ask questions. It was actually quite funny. And yet, when the girls are all on their own, oh, my goodness, it was a totally different scenario. And they were prepared to be you know, like, you know, asking the stupid question and being vulnerable. Whereas they sort of probably wouldn't do it as much in front of... times have changed a little bit now. 

But the other thing was, the men didn't ask too many questions either because they didn't want to be seen as not to know everything. So it was really great fun watching the different sort of… I don't know, groups play out. So yeah, I did a lot of stuff with property women and we did some, lots of bus tours and things like that. So lots of fun. Bernadette Jensen is a great inspiration to me. Now. She's, I love watching her podcasts and that with the reno stuff.  She's just fun and lots of free stuff, that’s just amazing on there as well. But yeah, she's really good. 

But I suppose like when I got to that point that I really needed to, to step up and move on. That's when I looked for somebody that I actually thought could make a difference. I knew that I knew all the nuts and bolts, I knew I knew how to renovate. And I've done some subdivisions before. And again, this is where I don't give up, I was asked how can I? And that's what I thought, well, what is it that I'm missing? And that's why I looked for somebody that could help me with mindset, which was events, property strategies, and Young. 

But I think those are the major people that have helped me on the property journey. And it's, I can't stress enough how much the education has changed and changed my life, I suppose, but also saved me. So, so much, you know, like, just little little tips and tricks on that, that people have learned along the way, if you can take half of them on board, you won't have to make the same mistakes, you know. And I know remember, sort of like, when you go to do something, go no remember such and such, you know. So yeah, learning those lessons is really important.

Personal Habits / book section

Tyrone Shum   
She’s also read a few books and used resources to help her on her journey

Vivienne Halliday   
[00:29:18] I started off with Jan sommers. And I actually was around when Jen summers was still...  I think I was in Mount Iser and she came out to the golf club there. And I was just going oh my god, this is amazing. You can do all this with this property and had her PIA software, I think it's still going. Where you can plug your properties and see what was going to be left owing at the end, and what happens if you added another property to it. Loved it. So she was probably my first sort of first one that sort of like Turn the lights: you know, you can actually do this as a business or as a full time income. Which has pretty much done for me during the time whether I've done Reno's for other people, or whether I've done joint ventures with other people. 

I think that and Robert Kiyosaki as well. A little bit different, being very Americanized, but it still had a lot of negative gearing back then. I would never go that way again. But you know, things you know, change and you learn different stuff. Yes, so, go so I suppose my favourite sort of books. Apart from like, I'm obsessed with audible. I’m always listening to something, especially when I drive an hour to get to Brisbane, like, that's if you're lucky some days. Yeah, I've always got an audible book playing.

Tyrone Shum  
Halliday gives our listeners the advice she wished she received 10 years ago.

Vivienne Halliday  
[00:31:28] I think looking at where I am now, and what I'm trying to do now, I would say that to concentrate on the income from the property. More so than the capital growth. I think earlier on I was looking at the capital growth, making me money and it has worked. But I think now I would definitely still look at Good, good areas, because that's going to set you up well, anyway. And if there's capital growth, then great, you get a bonus. But I would definitely say look at that passive income and and get something that's really going to give you not just covering your costs, but you know, more double. 

Tyrone Shum  
She explains why she’s going to explore developing boarding houses more during this new phase in her career.

Vivienne Halliday  
[00:32:55] I see that is the way that I can actually get income a lot more passive and a lot more regular. And it'll allow me to do more things with my husband, and who knows the world might open up to travel again, and be able get back out there. But yeah, I see it as my path to being able to move into retirement. Although I don't think I'll ever retire, I can probably just renovate a house a year or something like that, just to keep my hand and keep me from being bored. Yeah. But I will say see, it's a great way of giving back. You know, giving really nice accommodation to people that are at a reasonable price. And they're safe. Yeah, so I like that idea of it as well.

Tyrone Shum   
[00:33:51]  Well, Vivian, you've achieved so much. You know, there's been a lot of great things. And thank you so much for sharing your stories there as well. What would you say? If you know is do you think that all the things that you've done in property has been attribute towards your skill, intelligence and hard work? Or has it been because due to luck?


Vivienne Halliday   
[00:34:2] I basically have done a lot of learning, a lot of education. And you can learn as much as you like, and you can go to as many seminars if you like, but if you don't take that step and do something with it, you're never going to get anywhere. So I suppose, yeah, like, it is. I don't believe it's luck. I think if you actually put yourself in the right position and have the right information, then you'll know when the deal is right. But yeah, you've got to do something with that information that you've got. Otherwise, you're not going to get anywhere. 

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Tyrone Shum
Thank you to our guest Vivienne Halliday for coming on to the podcast.