Formerly known as The Property Planner, Buyer and Professor, we've rebranded to The Property Trio. Our listeners who have subscribed to our show don't need to do a thing. Each week's episode will keep landing in your feed.

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Show notes: https://propertyplanning.com.au/the-property-professors-memoirs-part-2-ep-198/

This is arguably one of the trio's favourite set of episodes. Taking a trip down memory lane was not only a thrilling chat for Pete, but a wonderful way to share some very important learnings with our listeners.

Following on from last week's episode 1 where Pete got started on his property journey in 1984, this week's episode introduces listeners to Pete's learnings as he embarked on value-adding to his investments.

Episode 1 - Getting Started. It starts back in 1984 when Pete and his wife purchased their first home in High Street, Ardrossan (SA) and spans the the purchase of their first upgrader home, as well as some early value adds and long-term investments that Pete embarked on.

Episode 2 - Property Speculation. Pete branched into purchasing value add properties and wised up to other ways that investors can value add, other than gaining a DA.

Episode 3 - Property Development and Construction. Pete started building and retaining properties in this particular investment phase. In Episode Two, Dave delves into Pete's 'mid-journey' property acquisitions and upgrades.

One of Pete's interesting achievements involved subdivision activity without building activity. In 2001, and by the time his young family were old enough to travel abroad, Pete proudly took his wife and two eldest to Greece to celebrate some of their property investing achievements. Interestingly, Pete's motivation to avoid building stemmed from a sloping block representing too many challenges for him to tackle. But block after block, Pete perfected adding value through planning approvals, although he notes that it was easier twenty years ago than it is now.

Why did Pete decide to sell his holiday house though? He offers a great explanation... Pete's children's sporting commitments, friends, and weekend plans got in the way of he and his family being able to enjoy their holiday house. The trio have discussed holiday houses at length over past episodes, but this real-life example from our very own Property Professor sheds light on the viability of the holiday house ideal for this family.

Pete and Dave discussed debt, home renovations, personal priorities and the need to put family needs before investment desires at times. Pete's authentic personality shines through in this episode. "I'm a big believer in that your home is your castle." ....."there's no point in having a fantastic place that somebody else is living in and renting, and then you're living in a not-so-nice place."

From value-adds via clever planning insights, Pete's winning formula as his property knowledge grew became a feather in his cap and a very effective way to grow his wealth. His salient advise is peppered throughout this exciting episode, and yet another piece of advice from Pete rings true.

"Most approvals do not last forever".

Pete reminds us about recessions, the GST introduction, the GFC, first home buyer grants and all of the eternal drivers that influenced the vibrant market conditions of the late 1990's and early 2000's. It's a gripping episode, and one the trio enjoyed.

And... our Gold Nuggets!

Pete Koulizos, the 'Property Professor's Gold Nugget: "Property booms are wonderful things." Pete's tip sits outside of timing markets, but he reminds listeners that owning property during a boom period is powerful for any investor's portfolio.

Cate Bakos, the 'Property Buyer's Gold Nugget: Cate reminds investors not to take town planning advice from an agent. Independent advice is paramount. "Property purchases are BUYER BEWARE."