Rejecting Retirement: The David Beard "Ridiculous" Blueprint

[00:00] Hi and welcome to Broker Tools where we unpack the tools, systems, and strategies that help brokers optimize the way they work. I'm Katie, your host, and today we are joined by David Beard from Property Direct. David has had an epic entrepreneurial journey from being awarded BRW's fast 100 growing business three years in a row to facing million-doll losses just a few years later before pivoting into the fascinating niche of disability and medical housing. In today's conversation, we are discussing the cost of growth. What it really takes to adapt, stay in the game, and fight for your vision when the world around you is telling you to give up. We unpack the highs and lows of building a multi-million dollar business and what it truly takes to create something with impact and long-term value. David, welcome to the pod. >> Thanks, Katie. Thank you. gonna want to open this box up because it's um this is the first time I've sat down and spoken something like this. So,

[01:02] if you ask the questions, I'll be I'll be honest. I'll be brutal and I gave myself and you know just you know the road to success is I think is a lonely voyage. >> Hey, it's Katie here with a quick interruption. This is just a gentle little heads up to say that in today's conversation, we address some sensitive topics that include mental health, sexual assault, and suicide. We talk about it in relation to the things to that need to be considered for high care and disability housing, one of David's projects. Um, it is for educational purposes only. So, please continue to listen if you're interested to hear David's entrepreneurial journey and his vision for serving this community. It is being a lonely village and um I guess for context awareness. While we have a different skin tone, we're actually family. Um you are technically my dad's cousin and I've always called you Uncle David. Um >> so I have watched your voyage close up and from afar. So, I would have to say

[02:08] this is why we're doing the conversation because I've watched your voyage and I think it's an important conversation to have because it like we said in the intro, you have built a business that's worth multi-millions of dollars, but you've also lost multiple millions of dollars. Before we go into all of those kinds of highs and lows, what got you started in the real estate industry? >> Um, well, you're going back. I was doing shutdowns in the mines in the 80s and I actually really took a union path. I ended up working at um Kamlco and the aluminium smelter and I ended up being 23 I think and I was the area site rep with a thousand guys and 22 union delegates under me and all the different unions. And I actually was a pro union gentleman and you know um while Bo Island was being built and one day I just realized look it's I'm just solving everyone's problems and I'd really love to move back to Brisbane and really get involved in real estate and I didn't

[03:11] know anyone in property. No one in my family had been in poverty and um you know so I gave him a few months notice leaving up at Kamelco and um we had a housewarming party at Manley um and I got I opened up the courier mail and got a job the next morning and I had a job at 9:00 a.m. um in Kapaliba in a real estate job and I absolutely started from a clean sheet of paper and that was really Kapalibar and and you know I guess 84 and since then I guess I've been in property one way or another and I thought the other day there's only been two years since then I've actually had a job with a salary. The rest has all been handmouth. You know what you do, your business. You know, obviously back in the day it was all sales and you know, you you know, when you're on commission only, you're not carried anywhere. You know, like literally, you know, you live and die by the sword. So I guess when I was left from a salary

[04:17] position back at Kamelco and then I got into real estate on a commissiononly job and and we just really dollar fell pregnant with our first child Z and I'm in a commissionon role you know you know there's nowhere to hide. You got to make it happen. We actually had just bought our first house too and just in time for all the interest rate rises to come through which killed work which killed you know so I actually had a baptism we had a baptism of fire pretty quickly you know so by the time that we were 25 we bought a house facing losing it and changed career and I almost went back to Kamelco but you know I left Kamelco saying that I can have more good days than bad days and when you're up there every is just the same. So, just really just started a trajectory and where I ended up where I ended up and and ultimately as we weave through all those chapters, one of those life changing decisions that ultimately all worked out. >> Yeah. And I guess um being in the real

[05:21] estate side of things versus like mortgage brokers, there's no trail commission inside of that. >> No. And you know, you there's so many I didn't realize just there were so many other market forces. What I always thought when I got into real estate that it's literally up to you. Well, when the tide starts changing, the winds start changing and interest rates, you know, you've actually got to dig deeper, change strategy, be better at generating leads, looking after clients, you know, like anyone can, you know, there's that old saying that, you know, you can teach an arena to sell, you know, when the but when the weather's all changed and it gets all choppy and no one's sure, you know, like the first layer of the lightweights go and then it just literally starts taking people out of the industry, which is sort of supply and demand. It means fewer people are in there, there's less competition. But, you know, unless you know your business and know how to create leads, know how to look after clients, and you know the mechanics of your business, you know, you're going to, you know, be knocked

[06:23] out. And that's I guess that's the difference. You know, whether you're a spectator and you're just in the business or you actually know how it works and and literally if you want to throttle it up, you really need to know that. But if you need to survive a storm, then you really need to know how to, you know, wind it up and and capitalize on it, you know, and that's probably where the greatest opportunities lay, you know, when the market's booming. That's when you get lost because everyone, you know, everyone comes in and it's easy to look good, you know, and this is where, you know, I don't want to cast against agents out there today, but a lot of them are driving Range Rovers and and and doing very well, and they confuse their success with just the market success, and they could easily think, oh, you know, I just I'm just a lot smarter than the guys from the previous generation and the previous generation before that. Well, I can tell you I I I'd spent a month in Western Australia in a car, you know, generating leads to try and sell them some property back in Queensland. You know, like I'd gone overseas and literally no one was buying

[07:26] in Brisbane and you literally had to find out where there was buyers, go and find them, bring them back, work through banks, you know, so so literally, you know, or you could just change. But once once you learn how to feed yourself and you know how to work it, you just got to go and put other strategies in place. But this is sort of like life and finest brokering is the the same. But when everyone's out chasing loans, I suspect you know there's just infinite number of people getting into the business and infinite amount of people getting getting well paid. But you know it's when the market's being decimated that's when characters you know that's when characters made. And I guess, you know, given that I got in in an 84 and we've seen the tide go in and out and been caught um and and as you alluded to my age, well, the older you get potentially the riskier it is because, you know, you can fall flat on your feet in your 20s, in your 30s, but as the game changes and you get a mortgage and your kids and your kids through school and, you know, paying for private education, you know,

[08:29] the stakes are that much higher. you know, you just you just can't, you know, I'll I'll sell my car. That doesn't cop it, you know. So, I guess being in a commissionon environment where, you know, um you stop, you start, you know, teaches you um a a set of business principles and drive. But as you get older, there's fewer people like that. And you know, and then you've got really to risk, you know, you've got money put there for your retirement. And do you still risk that? Because when you're young, you can always bounce back. But, you know, as you get older, the game changes. Then, of course, as your energy levels and and people probably don't believe in you anymore as much as, you know, you're a young buck in your 20s, 30s, 40, you're going to change the world, you know, but when you get to a certain age and you say you're going to change the world, you know, it's it's it's let grandpa go. But I also So yes, despite your age, I've always seen you as like the 20 version of you throughout your different ages. Even though you're technically

[09:32] aging, I can still see um the person that I always remembered you as a little kid. But um in saying that I think part of the reason and I've observed is that your drive mostly comes from the passion of the vision that you have for yourself and the world around you. And I think if you don't have those type of things in place, it's really hard to hold through those good times and those bad. >> Look, I I think it's one of life's chapters, right? I I I can't I I talked to my kids about it, you know, forever, you know, and and you know, they're probably into it varying degrees, but then that's, you know, that's that's that's that's everyone's individual journey. But every January one, I'd sit and find a quiet place to map out the year ahead. And as I say, don't start a week until you know what you want from it. Well, don't start a day, don't start a week, don't start a month, don't start a year. You know, know what you're playing for and and literally that sets your sail. You know, I I I've always been very passionate about, you know, polishing your life and that's your

[10:35] fitness. You know, I get up every morning at 3:40 and head into town for a workout. I've had a gym partner for 25 years. We work out together, then go to breakfast and talk And you know and um you know the way that you mold your life with your fitness your marriage you know you know it's probably going to come out but I met my wife when I was 18 and you know she was nine you know so we've been together eons eons you know and and part of your marriage falls into you know polishing your marriage where you want it and and your physical fitness and where you see yourself and your finances and your business and your business principles um you know all form part of that and when you sit and you map all that out and you know going back I was told you know like walk into the Porsche dealership or walk into the car dealership and you know and and and I had all met so many broches you know but ultimately it's your core DNA and you know I really struggled when I was a pup because I knew that people didn't actually weren't interested in what I was interested in right and it

[11:39] could have been well was certainly Porsches you know have you seen those Porsches No one really knew I care. I knew all the models. In fact, they bought a Porsche in an 88. It was a 959 Porsche back in the day. And I remember going sitting outside the dealership waiting for it to be delivered, right? Because I'd heard it was coming into Australia. And it's a very rare Porsche, but I didn't know why I was interested, right? I don't know. I remember driving past Mandy Marina with a mate. We I was moving out of my house. We probably had to move because it was I was doing it tough. And and we drove past Royal Queensland Marina. I said, "Man, nice place. And he said, "Dave, let's face it, you know, they're not for Bucks like you and I." And I couldn't believe it. I don't know. You know, so, you know, most people don't dream. And, you know, and I, you know, I've just loved we're in such a fantastic part of the life. You know, we've been here for hundreds of thousands of years. And just have a look at our life with what our phones can do. And and I think life is just so fantastic. But you you know it really is carved out you know you know and look there's a great book I read Jim Collins

[12:43] is good to grow and a lot of people have a good life good marriage good job good car good health but it's subscribing to great not a good marriage a great marriage a good relationship with the kids or a great relationship with your kids a a good house or a great house you know and running your life not good but Great. And and there's tools in there to to achieve that. And and like I can tell you, I've got a, you know, great marriage, fantastic. I got couple kids and six grandkids. And I'm blessed in so many areas. My health's great. I got a great house. Live on waterfront down at Rabby Bay. Got a nice boat in the pontoon and great friends. And and a couple of years ago, I thought, well, what's ridicul? What's a real stretch? a ridiculous, you know, ridiculous, you know, good to great ridiculous. And you know, there's ridiculous cars, you know, or you know, take, you know, what would be a ridiculous holiday to take all your grandkids, right? >> Yeah. Take them all to Disneyland, the

[13:46] whole family, 12 of you know, that would be ridiculous. And you know, and and you define goals by to me what's ridiculous. Well, what would be a ridiculous boat to have on your ponte? And if you're asking me the Horizon F75, that would be ridiculous, right? So, you know, what would be a ridiculous car to have, you know, to take to morning coffee or to go for a drive down, right? And and everyone's got their own version of whatever that is. And and you know, I with AI, you can put yourself in the picture, right? >> You know, and and you know, if you look at what your goals are or things that you're playing for, I've always viewed life like a game, a sale of the century or you know what you're playing for. and knowing what your goals are. And I people wouldn't even ask me because they know they're probably going to get this freaking, you know, pretty clear picture. I want to this and this and this right through the year and these are the things I'd like to do next year. And that's that's your business and your private and your health. And if you've got that goal up there and then you look at what you do and if they don't marry up, you really got a problem. Like if you want a

[14:50] ridiculous boat or ridiculous house or ridiculous holidays and then you sit in the couch until 10 o' then I don't understand it. And if you've got a very clear goal and that's your wife and everyone's on board and and you're going for it and then you marry up your plan. So, you have got to have it written, goals, dates, and look, I've got a like even here, I've got on my desk, like I've got a note written to myself, right? My pledge open on it before the first 2035. I got a 10 year plan of my exit strategy. People think it might be up before 10 years, but you know, I've got it in writing and I've got one of those on my desk under my keyboard and I've got another one I keep in my I've got a where I keep watches and I've got it in there. So, I've made a pledge to myself of where I want to be and and so those goals of what you want and and some of them are pretty shallow, you know, like boats and cars and all those things. There's some very deep ones there for my kids and grandkids that I don't even talk to them about. This is private things that I would like to do.

[15:52] And of course, you know, Donna, my wife is is involved in this, but you know, most people can only take a small chapter of what you're you're doing. And when you're going out on Friday nights, if anyone asks me what's going on, I usually apologize in advance because when you press play, there's just a lot to talk about. And you know, most people aren't interested, particularly at my age, >> you know, and the people I've got are all I guess my friends are largely sold out, financially independent, and they think I'm retired. I'm sure most people, particularly if you're watching this on Facebook, would think that all I do all day is with my kids or go out in the boat or I take the cars for a drive. Most people wouldn't even know what's going on in my head because no one is interested. They just, you know, any wife, she just wants her husband. The kids just want their granddad. And no one's really interested in hearing what goes on in your head. But if you've got goals and aspirations and you can write them down, it's such a private journey. It is such a private intimate thing to sit there and find out what you want to do. And you know, everyone's got a hot

[16:56] button. You just got to find it and then articulate and go, "Okay, is my business plan going to take me to that?" And if it's not, you need to look at your business plan, right? And is that going to get me there? You can't have an international business goal and and and be mowing lawns right now. Look, I've mowed lawns when I needed money back in the day, but is that really going to get you where you want to go? So your goals directly relate to your business plan and with AI, you know, there's just so many tools at your disposal. But then you got to be prepared and this is what cut cuts people. A lot of people want to get there, but are they prepared to walk through the valley of death and that's that's you know and and anyone can be happy when they're kicking goals. Anyone can be happy. You know, even some people aren't when they're kicking goals, but doing very well. >> Yeah. Well, let's take it back a bit because I think um ultimately we are trying to discuss the cost of growth and and goals are probably the paramount part for you and how you got through a

[18:01] few things. But um for those who don't know, let's take us through your journey because obviously you started off in real estate. >> Yes. >> And then you pivoted into construction. Um because that's is that right? like it I'm saying it's construction but I you know >> I was just selling land you know I end up working for a developer work selling land and back in the early 90s and um a friend who saw how far I was going around Australia to bring back was selling acreage and you know that was where I thought was opportunity and I had friends selling apartments and they'd have people from the suburb walk in and buy them and I had to go to the other side of the world to bring back clients to buy a big lot of land, you know, and they offered me a partnership if I came and got into apartment sales from and and they offered me a third of the company and I can tell you it lasted three months because I just couldn't believe no one really wanted to do anything anyway for one reason or another it didn't work and I I left you

[19:04] know and for the sake of everybody and I I literally had nothing right I you know I but I knew that wasn't going to work I didn't want to go back and we were working for one of the biggest developers office in town and I told him I'd resigned and I'd gone away and you know I'll just go back and do what I used to do and he'd really taken a shine to me and he was a brutal brutal developer right but I never him right where everyone else wanted to him right I didn't bull anyway he sacked everyone off the site and it was a $100 million project back in 97 >> and as it turned out he wanted me to apply to run the project and I didn't even have corporation license. I didn't have a Anyway, I knew real estate people. Everyone was a bit lost. So I said, "Look, I can put a real estate team together." He said, "Well, why don't you do that, Dave?" And anyway, I did. And I just said, "I'll go down interstate and sell you some of the property." Well, the company that did have the project said that they won't be involved in the

[20:06] project if I'm involved. And you just should never talk to the developer that way. And he said, "Ryan, Dave, you've got the whole got whole job. Hope you can do it." And that was the biggest project in town. And I had I just had a dozen salespeople I knew. >> And then I always thought they were pretty good, but I didn't even have my corporation license. So we went from nothing to the biggest project. Um, if you drive over the story bridge and you looked on the right hand side, the old cult brewery site. >> Yeah. Um that whole project was our first project and we then got involved in inner city apartments and we went on to sell 6,000. We were probably the number one there for ages. We did Felix Aurora. We just did new apartments and town houses. We have 600 square meter super office in the town. We had a team of 50. You know, we were really um the fourth in new property sales in in in Brisbane. We did that for decades. But you know that really I probably spent a fair chunk of that trying to get out of

[21:08] it. But we were just so tattooed to it that we I could never really get out of it. And we did a few developments ourselves at Alex Perry um in Fortitude Valley and we really all went ass up when Brisbane floods came through in 2013 2014. And we bought a building in West End and everything just exploded at the same time we had a the building got flooded that we had that where we had our office and our projects. Brisbane market died and the bank started calling in, you know, their loans and LDRs and they revalued our commercial property and that was down through the floor and then it was just one thing after another. We just ended up I sold about nine properties, nine properties. And all the money we had to just try and chug it all the way through and and I was in my mid-50s, I guess, early 50s. And really everything we put away for our retirement, we ended up putting logs on the fire. And you know, I was just thinking this morning, you know, we had a letter from our bank from the

[22:12] solicitor um the bank and saying they wanted $3 million um in seven days. Well, you know, they'll be taking action. You know, they wanted out and I didn't have three million and Donna and I didn't know what to do and and I can tell you the person, one of the people at my breakfast table was the director of the solicitor's firm sitting opposite me and I never brought it up to him, you know, like it was just one of the things that you got to deal with and we didn't know whether there was going to be locks on the door. Um, but as it worked out, you know, we we just keep selling properties and I had a some, you know, fortunately enough assets to just keep throwing logs on the fire, logs on the fire until we ultimately sold it. And then, you know, there was a big delta between um what the payout was and what the what we sold it for because of the wart with the floods and we had to stick more money in that. We basically sailed out with really just barely the seat of our pants, you know, but we were all intact and we moved our office into a Queensland, a rented Queenslander with just I think there was probably four

[23:15] people. We gone from 50 down to four and you're talking about growth. Anyone can go forward when you're expanding. But when you take a big team and have to go back to just a couple of people and everyone starts getting out, right? And you got to reshape positions. But we did that and we that really happened over a number of years and then we really started doing focus groups on highare homes thought well you know like I don't want to we bought management rights we moved into caretaking we've really taken a different approach to our business you know doing a lot more things that gave us you know residual money you know owning management rights and then you know dialing away from doing big projects which you always had to wait so long before and and whether you got money or you didn't get money depending whether the project completed so we went up into high care homes And we didn't plan on being a housing provider, but we ended up becoming a housing provider. And you know, as you heard me say, you know, it's like diving off cliff and building a plan as you go. We ended up being a housing provider. We just ended up doing everything around our ecosystem of high care homes. And now we've got 120 highare homes. We've got 65 companies providing care in those homes.

[24:20] We've probably got 200 highare quadriplegics in our homes. It's we own the disability housing center. So we've ended up putting this whole ecosystem together around highare residents bringing private investors. They own a home out floor plans. We enroll them. We we source the participants and the and the ss who provide the care and if anyone wants out we resell it. And there's probably just about 15 of us probably one of the larger ones now just in high care homes. And really just walked away and got all of our competitors together and said we're out. and I'm never going to go to another meeting again. And really just over six months just transitioned our company into just being a high care company with you know the vulnerable people and just reapplied our skills. >> Yeah. So just to recap ultimately you went from real estate into development. Uh you did a a I guess a partnership agreement with someone that fell through. So, you tried to do something with someone and you realized that that partnership agreement really didn't

[25:23] wasn't aligned with you and your values and what you wanted to do, but you were really lucky in the way that the person who owned the land and really wanted to develop it actually liked you >> and wanted to work with you. And because of that particular relationship um and the other person not wanting to work alongside you, you got to I go I always say um so for me I feel like my career is the career of drop and roll. Do you know what I mean? Where someone has to has dropped me in an environment and you have to roll with it as you go along. I feel like that's similar to what you're saying but you're using a plane analogy. Someone has given you a plane, but it's all in pieces and you're having to assemble it as you >> Yeah. And you got I got past the ball and I hung on to it and you know, we end up doing a number of projects for that developer. Um, heaps of them and we did them for everybody else, too. And, you know, we got a sink or a swim and and I can tell you the company that I left didn't last long. M

[26:26] >> and you know and and look I went there because it was a great product and what everyone was doing but at the end of the day you know it just didn't align with well I probably didn't align with them really because you know like I probably was just a bit too intense and and you know to get things going you know where everyone was sort of pretty cruisy which is pretty fat and lazy you know they're all happy to go along and let's go let's go and make it rock and roll and and >> you're like let's go. I was in my late 30s >> and you know and I actually they had these sales records there at the time and I think it was 37 sales in a month or something. There was someone and and the first month I was there I broke it and you know to me I just couldn't believe how easy it was you know and and you know and really what it was I think was no one really wanted that lightning bolt >> and well certainly not up top but anyway it all sort of worked out for the better. We went on to do projects um and you know that was probably one of life's

[27:29] biggest lessons where um you know we had a lot of good people with us but a lot of people who I've probably been still a bit dark on some of the loyalty that you show to people and how you support them but only how you know there was probably 12 people spun out of our company and set up competition 12. Mhm. >> I can't think of anyone that's still going. Maybe one, but then they've rebirth into another company, you know, that we took over 11 companies. You know, it's it's it's doggy dog. You know, it's a biper pit. And you know, there's that saying it, you know, if you're not at the table, you're on the menu. >> Yeah. you know and and we took over a lot of businesses. A lot of people suffered over motivation, spun out their own own companies and that was just project marketing and you know we we it was very difficult through those periods. We never everyone got paid for everything. No one ever people came back probably three times. they'd leave, set up a company, come back and you know,

[28:33] we're I'm never judged during execution. Life, you know, like, oh, I'll never make life difficult for somebody, you know, I'm on my own lane, you know. So, um, people can, you know, I'm disappointed at the loyalty, but at the end of the day, they knock on the door and they want to make up, you know, I'm not I'm not that guy that will crucify him, you know. I'm not out to trip them. I'm not vindictive, you know. I'm on my own lane, which comes back down to your goals. >> If you know where you're going to go and you know what you want, then you haven't got time to trip up and spend wasted time chasing other people. If you've got time, go and spend it with your family, you know, and and get, you know, just spend quality time with people and and if you're at work work, play your own game, which is one thing which I know you didn't ask about, but these people over particularly over in the States who are all protesting, right? placards and signs and I I can't man you mustn't have any goal you know like I'd love to walk down the street with my you know you know like all the way over the flag and I'm very passionate about what I want

[29:35] and I think too many people get caught and and and chasing things other people's goals other movements and and probably just never reflect spend some quiet time on dialing into themselves what are you really playing for what what is it that's really key to you and then that that just permeates through everything, your credibility, you know, like I would never dust anyone for a scent, right? You know, so you get your own values, your own lane and your own goals and you and you chase them and and of course, you know, your family and way life works out, they all sort of come together and people will go and infinitely go and protest on this and protest on that. I go, man, you know, I just don't know how like I once you're passionate about your goals and you know what you want and it oozes out of you. I I just don't know how you can go and put pick up a cause and pick up a plaque card and go wave down the street because, you know, more people, you know, just did their best job of trying to live their best life and, you know, their staff and and and you know, just

[30:39] drawing a bubble around everyone around you is a protected species as much as you can and that's your kids, your grandkids, your wife. you know, I've got a CEO, you know, and really trying to look after everybody and take them all somewhere. And once that is clear and it's got purpose, it's overwhelming. And and I and really that's just that's just your life. And I think for my age, you know, where I put a Saturn rocket into it, you know, I it's most of my life has had to put the brakes on, you know, because you know that life won't go as fast or people aren't that interested, you know. So, you know, matching your speed of change with the realities of life. And that's a big thing, too, because not everyone is that interested of going that journey with you. You're going to go and, you know, that's a that's a thing, too. Some people, everyone moves a different speed, but you know, you just do the best that you can and and ultimately, you know, you'll get there. >> Yeah. And I guess this is the thing is that probably the you're able to go

[31:44] through the good times and the bads because you have these like core center values. Sure. You might not know exactly where you're going and you've done incredible things. I think is that correct that you helped bring Codwell Banker into um >> Yeah. Yeah. Now, look again, I got to say that we went, you know, where we we were by any stretch of the imagination, we were pretty big numbers, right? Pretty big numbers, doing big projects, doing big numbers, big teams. >> And I, you know, my my real estate experience and what I hadn't run and anyone I ever knew had never run what I was running in sheer volume. and the team, you know, I, you know, and we had, you know, just it was just all so big and I wanted a model to put on top of it that could run our systems better. So, I didn't feel that the suburban office was for me. So I wanted a a big office and that's when I went to Coldwell Banker and where their big offices are freaking massive, you know, 400 agents and you know I said about you know um I I went

[32:51] to their offices and bought the franchise for Brisbane you know and and ultimately it didn't it it's probably one of my regrets really because you know the soon as I started and I bought the franchise I wanted a job description to the front desk. M >> we had two receptionists at the front desk, you know, and we had cafe in our office. That's >> we had all our architectural models. The figure out cost $500,000, you know. We had architectural models of our past projects to do the resales. We owned our own finance brokerage called Real Bank REB. We had our own brokers and um they told me, "Oh, we don't have one, right?" And literally they people who bought the franchise for Australia bought the um signage but really none of the systems anyway that it they end up with about 10 offices or 12 officers and we went to a meeting in North Queensland with all the franchise holders, all the office holders around Australia and I went

[33:53] there and we went around the table and it worked out that my business was bigger than the rest of them combined. Right. >> Oh. And there was no way I could get help. You know, they wanted to be where I was. And I just really wanted to get a, you know, I I was struggling with project marketing, resales, finance, you know, just, you know, and I I didn't even really finish high school, you know, so, you know, and we were doing well, as you said. We had three B fast 100 awards, you know, we were flying and and just really managing all that, you know, just managing all that. Then look, we did and we didn't we didn't fail at anything. But you know, when the when the hit the phantom, we tried to diversify in our own projects and just trying to change our model. And you know, look, our company, by the way, is 30 years old next year. So, we lasted, but we just had to, you know, put more meaning in be behind our IP and instead of just being, you know, and and it wasn't really an insult, but it was

[34:55] never really me. It was just, oh, you know, Dave can sell, >> right? And I never really, you know, like, sure, yeah, that's important, but I just don't want to be the hide gun. And ultimately, we were just a hive guns. And, you know, no matter what the market, no matter what we had to sell at whatever the price, just get Dave and his team in. And and you know, you know, that's that's okay, I guess, but you really want to do something more rewarding and intellectually stimulating. and and when we went off into high care homes and you meet the residents and you meet the participants and this is before the NIS or really the NDIS was coming out and I read the productivity commission report which is 400 pages 440 pages or something about where the NDIS was going and what the need was for specialist homes. So I just thought why don't we do a focus group with the disability space and see what sort of homes are needed and I can tell you because we've done focus groups at Canondale and everything all these new projects we were doing let's do a focus group on a floor plan for high care homes I mean who's ever done that >> so you're saying that um after all this time in all these other kind of normal

[36:00] build projects you saw an opportunity within highare homes you saw that somehow along the that buildings weren't being really created for those with disabilities. >> That's right. No one had asked the questions and I didn't know. Right. And that was probably, you know, I didn't know. And the only way you're going to know because if you look at if you look at um design or whats needs are, you've really got to be looking forward, not back. And everyone's an expert of where everyone's gone and what's built. But really, even our new projects, it's the projects. If you're ever doing a project, you've got to otherwise you compete with the secondhand market. You know, if you're going to do a new project back in the day, it's really where it's going, not where it's been because you got to, you know, chances are you're going to have a new price rise and you got to offer something new. >> So, if we're going to go into the disability space, into the high care homes. I mean, I know what's there and even though it's not good enough, but what what's needed? So, we we did what we thought and then we did three of them on the north side, Southside, and the New South Wales. We, you know, went to

[37:03] socials and, you know, called the disability sectors together and we had some floor plans that we made up and all done in 3D and colored them like we would have done for a normal, you know, new project. >> And I can tell you if it's one of the biggest things I've underestimated was me standing at the front of that, right? I I literally I'm looking at my CEO my CEO now and I'm looking at her and I'm going, man, I've absolutely underestimated this with the on their liver, right? you know, and it was just so many people, so many problems, you know, like it was just so much heat in the room and it just I literally wasn't prepared for it, right? I got to say I wasn't prepared for it. So you know this we had a project we we did a focus group at Kabula and people the carers had driven down from Marab because they'd heard about it and wanted to come and tell us what they thought the homes needed to be and they said you know you're talking about disadvantaged people and needing new homes you want to see them you come up and drive and we'll walk you through them. Right. So we did

[38:06] I grabbed Bruce Bruce listeners but Bruce Alen who's been with me well obviously came up with us he he's our land acquisitions manager this is back in 2008 he came up Emma who's our CEO she came up with me and we got escorted through some homes and with the high care people there and the and they were profoundly disabled and and you know a guy got out of his truck and you know he got some flashing lights behind So he pulled his truck over and he opened the door up. Um, another truck behind that came through and cleaned him up as he got out of his truck and he he they had put him in hospital in a coma and he was severely damaged, you know, mentally damaged and and what, you know, they gave him a meal while he was, you know, obviously um still um cognitively impaired >> and they gave him meatballs and he couldn't move anything, but he just stuck his face down and ate it and choked on. He couldn't chew and they

[39:10] found him and he ended up with a second brain injury from lack of oxygen because he choked on his food. So he had two major injuries >> and we were with him >> and he had all these photos of what his previous life was around him you know and it was just man you know like it was just so overwhelming and when we met the people in the homes and it was going man you know this is just so anyway you know you come back and go right we got to change these things and so we said about delineating living areas so the carers had their own entrance and exit because the carers and all the high care residents live in the same place we want to delineate so They had their own residence. We gave them a little sevil suite because the all our residents need 24-hour care. So, we put a care room in. And, you know, they've all got emergency power and 18 square meter bedrooms. All specialist homes, but they look like homes from the street. So, so yeah, we ended up listening to what's needed, coming up with their own floor plans, trying to dial out some of them. Um, you know, the biggest killer of our residents is suicide. M

[40:14] >> the lowest role of any working group in Australia our car. So, you know, when you're designing a home, these are a pretty some fundamental point. The people who work there and the and the people who live there are worst in class, right? And and uh and our residents don't want to be there. And you look, you're a road trauma victim and you you wake up and you're quite can't communicate. So, so we, you know, they're called SDA smart homes because we knew that technology is going to play a big part. You know, the the people can't communicate. They saw themselves. They can't communicate with the support workers. They're out there. you know, they got to try and banging the wall to get someone to come in and if they need a drink or something, you know, so so we which is part of this in 2020 um you know, we've been trying to get more technology into our homes and I approached Samsung, I approached everybody that you you know, like such a long list of people want, you know, we've got the homes, we're building them, but we really need to leverage more technology into the home because our people are selling capacitated and when you walk in there, it is so freaking moving. and no one gives a And you know, we're building the

[41:17] homes and and I just can't tell you how none of them was interested. Like, no one. And I had one company that was interested in town. And the like the weeks before we it was probably a month before the first the completion of this home. That's that >> they thought we just don't want to do it anymore. It's it's a bit hard. And we had to pull all the stuff out of the walls and we sort of we were months like the roof was on. We had to sort of figure out some technology platform. We didn't know. So, you know, it was really a a lonely voyage until we were had our office at auction at Bill and um we were putting on a lot of people and we had a few homes under construction and I employed people from the NDIS to guide us on on the homes and the Emma who was general manager walked in and she said, "You know, Dave, you've got another person starting in the company. Where do you want them to sit?" because we were all pretty tight, you know, and you know, cuz we were back rowing again. This was 2020. And I said, I tell you what, then I'll go. You move into my

[42:20] we'll make you a potential CEO. We'll move everyone up line to make them managers and we'll do a whole new model. I'll go right and I'm going to go and see if I can start this technology run because no one cares. But we keep trying to do too many things at once, which is why I've walked away from projects. You really got to nail it and spend time doing it. I said, "We'll put you in this role. We'll do two years. I'll get your CEO training. We'll get a whole um advisor in to run through everyone's roles." And I said, "Because you know, I just do everything the way that we do it, but we really need someone to come in and do some corporate training." >> So, I walked out and that was um September 2020. >> Um and she stepped into my role and I walked out of the office to leave them all to it, right? And um the month a month later um I'm at the cafe at Melton 5:30 in the morning, you know, standing there waiting for, you know, coffee and a guy who'd come in most mornings as well for his coffee. He'd seen me pull up a few different cars over the times.

[43:24] And he said, "Dave, what do you do? What do you do?" >> I said, "Well, actually, we build high care home, but I said, I'm trying to make them smart, but no one gives a shit." And he says, "Well, Dave, I own an aerospace company and I'll do it with you." I said, "Really?" He says, "Yeah, I'll do it with you." So, we turned around sat and we set up a technology company um in October 2020 called Aerial Care. If you go and look at it, aerial. And in fact, I was on the phone two minutes before, you know, you rang. So, matter of fact, did my first podcast platform where we built communicators, right? um for that goes to an aerial smartwatch, you know, a smartwatch where bedside communicators, an analog, a digital, you know, we built this whole technology suite and it's it's it's just insane. And right now we we built um what we call a care B&B app that sits in the hospital beside the bed that nurses can find accommodation for high because we've got high care homes >> but you know the resident needs to go say down and analyate you know we've got

[44:27] a spare room they can you know find a home highare home my physical support home tap it and book it right and that's all the bed blockers that are out there we got a a phone call at midday about it right so we started a technology business to feed in for our highare residents. And you know, we didn't plan to I didn't plan to have a technology. I went and did a conference. I went and spoke at a at a at a at a group on AI >> and leveraging technology, right? Yeah. On a PowerPoint presentation on on leveraging technology into a high care space, right? I And everyone's sitting there listening, >> right? And I I couldn't believe it, right? Because you know what? I was just a guy himself. What you're saying is that in in your mind you're just you were just a property guy who did project developments and now now you were able to um put in a CEO in place of managing the property development and and as a property development company now you really only specialize in uh disability housing. Um but because of all that you

[45:33] saw within the disability housing sector you realized that there was a bunch of technology that those who were going through that that really could do to have a better more facilitated life and that's where aerial care came in. >> Yeah 100%. I mean like our residents aren't going to do it victim 24-hour care the support workers are they going to come up with the technology platform? No, >> no. The sill operator is what they call them who run the home, you know, and we got 65 companies that do that. Are they going to do it? I don't think so. You know, so you know, if and if you literally, you know, I I I just have found so deep empathy and someone needs to give a and you know, technology is there and no one cares, you know, like it really it's a it was a real bear in my bonnet because you know, you drive through a traffic light and you might be on your phone. I can detect that, right? Well, what about you know girls are three times more likely maybe even higher than that six times more likely to be sexually assaulted or disabled women right you know so you

[46:35] know sensors can detect things so we said about sensors to detecting sexual assault you know choke detection our residents are 100 times more likely to die from choking because you know their neck muscles just don't get used so there's so many things that technology can do but no one cares so you know like you Maybe you got to be the dumbest person, right? He says, "Well, maybe I can. Maybe you can." And you know, we've tried to tried to do that because someone needs to needs to to care. And look, and I can tell you, I put hundreds and hundreds and hundreds of thousands of dollars in it. And if I made any money out of it, no. Right. But, you know, it's it's if you're sitting in bed, you would want someone who is going to try it. It was and actually what we did that pilot made the national um um 700 p.m. national news and channel 2 page in the core mom. No one cares, right? No, you know, you know, like I can tell you I I I went to a pole because you know we've got road trauma victims and I thought maybe with our pilot they could just

[47:37] come and buy a tablet >> just to show someone of someone is interested in helping. Nothing. No, no, no, not interested. Um, you know, like I've just been to so many people, the energy companies because all everything we're doing is powered by electricity. Would they be interested? You know, we'll get more the free publicity, you know, but someone come and help us. No grants, right? Okay, grants. We'll try that. No, you know, so really when I say success is a lonely boy and and this, you know, like you've never heard me talk about the money being the motivator, >> but you know, you need the money to help fund it because no one's coming out and helps you like and I can tell you life is so full of people who will tell you the problem and endlessly talk about it. And this is probably one of the biggest things when I got into the sector, I couldn't believe it. I was going to so many meetings and everyone would only just talk about the problem and it was like perpetual talkers on the problem and not doing anything about it. And when you come from the property game and you come on commission only we come back by DNA. You only got to heard the

[48:40] problem once. You've only got to be told by okay let's do something about it and I'd gone to meeting upon meeting upon meeting and all I heard was talk talk talk talk and and and and you know well I'll do it. And someone starting without the tools having a crack is literally what these people need. and we put together some fantastic technology and you know and I'm not even sure how it all fits together yet you know but we but no one's you know we're trying to give the home an operating system but I tell you this we met with Apple early last year Apple Australia I'm talking Apple Australia >> yep >> we were using we're introducing VR into our hearts enable Apple because our people can't go virtual skydiving virtual skin diving you know we wanted to give our residents who could go in a virtual world and leave their bed And we felt VR was a portal to that and and within and within there you can use your eyes to control you know we thought you could get them doing banking buying flowers for their wives and doing all sorts of things right yeah so we got technology techn technological tools so we went and did a demonstration to Apple

[49:44] Australia we had three or four of them online from the technical platform >> and we showed them what we're doing we walked them all through and we end up having three meetings the third meeting they came back and said you know what we've never seen anyone doing this in the world. We went and searched the globe. No one was doing it. >> Oh, >> that was from Apple. That was from Apple Australia. We knew no one was doing it. And you know, the things that we're trying to do um you know are so good revolutionary, but we're flying a bit blind. And but but to have a home with high care and there's so many things that there's so many things that a home could do more. you know, all it can do is send a beep out when it's burning down. Like you've spent how many million dollars on a home and it'll just let you know if it's burning down. have a look at your phone, have a look at your car, you know, and I we believe that a home can have an operating system that's upgraded every few years and the residents walk in there be it fall detection, sexual assault, you know, all sorts of things and and in the bedroom and and the bed being part of it with a smart bed that fever detection, choking

[50:47] detection, but you know, it's a slow it's a slow road, but you know, you're only here once, you know, and and you know, when you these people move into our homes, you know, you're their ambassador. you got to try and make a better tomorrow. And that's just that side. And now we're moving into a new line of homes for memory care. You know that there's so many areas down there that need someone who gives a And you know, when you when you have that your goals, you know, like we need to do more, we want to go somewhere. And and you never arrive, you know, like you know, your goals, you never arrive. It's and business you never arrive. You know, you know, as you probably maybe you heard me say once before that, you know, business is like a game in Nintendo, you never win. It just allows you to go to the next level. It's a bit more complicated, >> bit more complicated and the stakes get a bit higher. Either a bigger team, more people, more regulation, and you know, the stakes, the stakes are bigger and and that's it. We added the technology

[51:49] come up and and and look I can tell you that I've got a meeting with the ATO tomorrow >> because they question we did an R&D tax offset and how much of our office was I we put about 10% aside for detection senses of an area and they're coming tomorrow to question me on whether I did put 10% away of our floor area. you know what was the floor area and what how much time did I spend a day on aerial care you know like man oh man you know like so not only do you not get a free runway you know that even you know you just get questioned on on so much you know that makes it makes it difficult but if you're passionate and your cause is strong >> right and it gets more complicated it may get tougher but this is what gets you up in the morning >> yeah and I think these are the things that motivate you cuz getting through the like for everything that you've done so far, you've pretty much started at ground zero. Like when you started first in property development, you didn't know. You built it as you went along.

[52:54] You then over time realized that the whole industry wasn't for you. So then you moved over into a version of it, but it became disability focused, which was really helpful because it you got to niche down and through that you learned about um technology or care that so you let me reword that. It's you learned that people in a disability state needed technology to support them. For example, um there are threats to people who are unable to move. Some people might choke them or uh assault them in a way that is not okay. And typically females more than men get assaulted. And so having the technology in the room to help prevent the uh abuse that might occur in a dis disabled envir environment was something that you became aware of that needed to be built. And then along you just so happened because while we didn't talk about this, you were the Porsche

[53:57] Club. Um, you know, you love a good Porsche and you love your cars and things like that. And so because you were driving around in vehicles somewhere, hey, I'm curious what you do because people who own a Porsche obviously are not short of money. And so um that obviously sparked a conversation with somebody who happens to be in error who understands technology which was really helpful for the catalyst. But at the end of the day the way I see what has happened for you and how you've gotten through everything is that you have a deep love and care for people and and have deep strong values and that's what's helped you get through most of these things. Because if you didn't have the people or the surroundings, half your goals or visions really wouldn't work. But it's because you you can totally visualize and you can totally see your path forward that you've been able to reiterate and now you're going into memory care and that's like support for people who have

[54:59] dementia. >> Yeah. Yeah. That's you know when I wanted to steer the company because you know you never arrive you know like innovate or evaporate you know like that's your business was certainly in pocket you know markets change everything changes so you got to look at where you want to be in five years time and I really want to have that momentum being in a specialist territory and we were in projects and you know things change and the entry is probably a bit like you know how we founded in there you from my side, you need to get into something a bit more compliant, a bit harder to get into, you know, more money involved because at least then, you know, you probably less people, you know, um, chasing you. But, um, I laid out a path late last year of the direction I'd like to take the company. And I've got a great team. And, you know, I told you about our CEO. Well, she came out of uni with a business degree >> 12 years ago. Um, and she worked with me while she was finishing her degree. And

[56:02] I've got a fantastic leadership team, all females, right? And you know, they run the show. But I can tell you back in 2020, 2021, I used to drive to the office and just drive past because I just so used to driving to the office, right? I just drive past and I wouldn't go in, but I was just so used to driving into the office, I'd just drive in. And then you see, I needed management, too, because I'd always, if I wanted to speak to someone, I'd email them or call them, right? And I had to change that. So your mind's always asking questions or something you thought of. So I had to set every week, every Fortnite a CEO meeting and I when I stepped over the line I said you run the place. I'm not going to talk to anyone in the team anymore. I'll I'll talk to you. You have you have your weekly meetings, you know, with your team and then I'll have a Fortnite run with you and we'll have a monthly report. So you know when we signed up to where we were going and I needed managing, right? Fortunately, I didn't harass her. Let her let her do her job, which is another bit of business, right? Letting other people, right,

[57:05] >> do their job, >> lay out the the plan and and you know, it's I've always had time for these film producers who I mean, how do they get that vision and and you know, all the way down the line, you know, interpreting it? And I think, you know, they they spell out the vision where we're going and then they leave it to the experts who can do those things in in sound and and film and, you know, let the people do the job. You go out and lay the vision. So when I got the the opportunity to lay out where we're going and then I spend that front row needling and putting that bit together and late last year I sent probably mean seven pages a lot of pages on how I see us going next year and the year after and the year after. So um I was I'd taken a few days to drive down with a friend to drive Burst, right? We were taking one of a couple of cars down just to spend some time, you know, doing some boy things. And I sent a message to my CEO.

[58:09] I said, "And I'm going to email you something >> and I'd like to spend the next two weeks reading it, doing your due diligence, and we'll catch up in two weeks time, and I'd like to know what you think." Right. And I can tell you when I sent it, I wanted to be speaking till that afternoon, and then the next day, and the next day. But she said, she then sent me back. Yep. Ready when you are, Dave. So, and I remember I pulled into a servo, right? I had it all ready for sent it. Right now, that I view that as right. Well, I've gone and set that up. Let's just see what the response comes back. Right. Because it's not my vision. I really need her because she's got people. I need everybody in this. Right. >> Yeah. >> So, I felt it out pretty comprehensively. I felt the why. And then I I was so looking forward. I just couldn't wait to get back and and talk to her. And I did. I met her and and she was as sold as me. In fact, I thought when I walked out of that man, she might be she might be this smaller than me, right? And and and that's how it's been, right? And and um and and that involves everybody, my my um my accountant, you

[59:13] know, telling everyone what we're doing and and you know, you know, we're now becoming an age care provider, right? So, we're going through the the due diligence of becoming an age care provider. Well, does everybody know about why we're doing that? and and you know working that through what at the Christmas party you know so letting everybody know and letting his vision be everybody take ownership and I can tell every with Mark I had to go on a meeting with Mark and I told them the direction I'm taking the company you know so there's my wife everybody you know so this have this silo that you're building this vision over the next five years of how you want to go and I haven't got too many moves left right so I which means increasingly I need to let the business do the work and the team do the work. So I'm only going to, you know, as I said, I've got a plan where I want to be in 10 years. I don't want a plan to take more than 10 years, right? So you know, I've got this plan. I laid it out. I visualized. I documented it profoundly thoroughly, right? And all the reasons and then everyone got on board and now in the conversations when you're talking to them, they are talking about it,

[60:15] right? And and you know, and it's just so it's one of life's joys when you lay out, well, I want to go this way. Here's my logic. And you know, and you're respectful enough to document it. Let everybody buy it. And we're not walking away from one thing we're doing, right? >> No. >> You're just adding to it. >> We're just adding to it. And we're just going to put this element of growth in, which means these are the reasons that we've got to do and we're going that way. But we will build I think we could build a a business 10 times bigger than what we've got. That's that's that's my and you know and this is why this is how and and with AI you know like there's a lot of issues with regards to compliance and councils and age care and NDIS and ours who run our homes and you know there's just so many regulatory bits and pieces in there but I spent a lot of time before I did it with AI to just make sure that the plan worked could work. So yeah, you've got to build a vision, but then let other people take ownership and then help come behind them and let them see it because it can't be my plan. It's got

[61:20] to be our plan. And you know, and they'll they'll they'll work it. They'll work it. >> Yeah. And and um the reality is while you don't want to age, you are aging. And so um the vision has to live past you. >> Yeah. And I I you know I I don't want to retire. >> I got I got friends who retire. Most of the people I you know I guess given the game so long are out and they're burn it. A lot of them are burnt >> and I'm not burnt financially just burnt as >> Yeah. I just don't want to do it anymore you know and and that that but then if you're passionate and you play the rules, you know, if you don't like the game or if you don't like the rules, change the game. who's not the game changed the rules, you know, and I'm I'm excited about what that can do and I'd like to be involved in that sector. I think we can add value in that sector and I think it's an exciting opportunity. So I don't want to I don't want to retire. >> Yeah. >> I I I think you worked all your life to

[62:24] get a set of brains, you know, like I I always had the motivation like and it was dangerous and I was always felt and the energy I had was a curse because it got me into trouble. Not in a married sense, but you know, like if anyone had a business idea or they wanted a partner, let's go and do it, right? And you know, like bursting of energy and and but I didn't have the core, you know, I'm freaking property agent, you know, that's that's no free ticket anyway. So, you know, to get the brains and build up that resource of through all that the business experience and and who to believe and and who you don't want involved in your life and all those sorts of things to get to a stage where you're a graduate, which I think I I took to my 60s to become a graduate, you know, and and and and contentions in my own body. I'd gone to the gates of hell, bounced back, bought another RS Porsche and we were doing pretty well, you know, and and you know, you can count, well, I proved I could bounce back, right? And and and that we did in our life and and all through the stress, you know, no

[63:27] marital problems. We'd all live to fight up the day and you know, anyway, you get to a certain stage where I feel that you've got the gift of wisdom, but then why leave the paddic now? you've got all the elements to really make a difference and do what you want to do. And you don't I don't report to anybody. I don't report to anybody, you know. I don't have a bank I report to. You know, I don't I don't need whatever I do with this venture is only up to me. The only person I've got to make it happen is is is me and make sure my team's looked after. And I think that's a that's a great way to go. I'm doing what I want to do. You set the business up and you resource it. you give it the, you know, every second point of where it needs to go and and I think it's fun, right? I think it's fun. But, um, you know, what am I going to do about that? You know, sitting, you know, it's TVs are, you know, like doom scrolling, doom channel surfing, you know, I think I can do that, but I can lay some really good bombs >> and we're doing some exciting things. We're about to do some focus groups on

[64:30] um, memory care homes. >> Yeah. >> And this is fascinating. And and if you know about dementia, it's one in three people born today are going to get dementia. It's massive and but it's a specialist area. So, you know, I joined all these dementia and I can tell you the amount of freaking Facebook marketing I get now for depends and all the things that think I've got dementia or my wife's got dementia. But, you know, the thing is that I I'm interested and and it's a chapter of people's lives and you know, I think that there's we can add some of the you know, we've got high care homes. we can just do a new line of high care homes. We do 24-hour care. We just do another line of 24-hour care. These are people over 65. Currently, we specialize in people under 65, you know. So, it's a great addendum, but it's it's one that's going to be massive over the next 20 years. And I don't need anyone's help. I don't need anybody's help. And and you know, and when people ask me about it, and I got a couple of people that ask me like over a coffee, how it's going, right? and and I sort of got to put the brakes right on

[65:32] it because you know like people just want like an elevator version two words three words you know there's just so much there and you know and you got to entertain yourself which is why Grock if you don't use Grock you know like Grock's fantastic you know and I have so much of a resource of questions I ask and it's my CI it's my CI and if you're not using AI to its ability you know you ask it smart questions it gives you smart answers it's G's fantastic and I I think I've been able to put a national model together. That's got a massive a massive opportunity and you know now I've just got other people convinced to join. >> Yeah. Um you and I could probably talk forever on these different topics. Um but I will round it out there. Um thank you so much for being part of this chat. If people wanted to learn more about I guess SD housing, aerial care and the memory housing, where should they go? What should they do? Well, our core company, Property Direct. If you Google Property Direct, you'll end up at the website. The um our building business is SDA, which is now Yeah. SDA, which is

[66:38] specialist disability accommodation, SDAHomes.com.au. Um we own the disability housing center, which is where our tenant matching service is, and aerial care. Aerial.Care. Just Aerial.Care. Aerial Care. Um, but you know that's our businesses and and we're moving across into memory care to add that which we think is a good sister business and you know that's that's probably where you can find me or David bpropydirect.com.au. David bpropydirect.com.au. >> Perfect. Thank you so much. Um, if you have comments or questions for David, feel free to drop them below. Um, like and comment on this post and remember to share it with your friends. >> Thanks, Katie. >> You're welcome. >> Thank you. Bye.