How We Built a $7.5 Million Property Portfolio Before 30
We’re diving deep into the story of a couple who managed to build a multi-million dollar property portfolio before the age of 30.
Starting Early and Saving Diligently: When Emily and her husband Luke started their property investment journey, they had less than $5,000 to their name. However, they recognised the importance of starting early and saving diligently. Over the course of two years, they managed to save around $66,000, which included utilising the First Home Super Saver Scheme to save an additional $5,000 each on their taxes.
Leveraging the Power of Property: With their hard-earned savings, Emily and Luke were able to purchase their first property, an $800,000 asset just a few kilometers north of the Brisbane CBD. By moving into the property themselves and renovating to add value, they were able to leverage the power of property and get a foothold in the market by the age of 23.
Extreme Measures and Overcoming Challenges: To achieve their goals, they were willing to take on extreme measures, such as working multiple jobs, starting various businesses, and adopting a minimalist lifestyle. They also faced numerous challenges along the way, from financing and renovations to property management issues. However, they were determined to find solutions and overcome these obstacles, which ultimately allowed them to continue building their portfolio.
Building the Portfolio and Diversifying: Over the next few years, Emily and Luke purchased two more properties, expanding their portfolio to a total value of $3.5 million by the age of 26. They then took a strategic approach, focusing on growth properties first and then adding cash-flowing assets to their portfolio. By the age of 27, they had managed to create a $5 million property portfolio, a remarkable achievement.
Adapting to the Current Market: Recognising the changing market conditions, Emily and Luke have adapted their strategies to suit the current environment. They advise aspiring investors to consider options like rent-vesting or exploring more affordable markets, such as regional hubs, to break into the property market.
Investing with Purpose: The driving force behind Emily and Luke’s success is their commitment to investing with purpose. They believe that property can be a powerful tool to help people live out their true purpose and create more choices in their lives.
This story is a testament to the power of determination, sacrifice, and strategic thinking. By starting early, taking extreme measures, overcoming challenges, and building a diversified portfolio, they have achieved a remarkable feat that most people can only dream of. Their journey serves as an inspiration for aspiring property investors, showcasing that with the right mindset and approach, building a multi-million dollar portfolio before 30 is indeed possible.
