Revealing Our Latest Property Purchases: A Journey of Growth and Opportunity

I’m a big advocate for transparency - especially in the buyers agency space. I always say, how could I expect people to be transparent with their own finances and goals, if I’m not transparent about mine? How can you trust someone with such a huge investment who hasn’t got a proven track record?

Well, in this blog post, I’m excited to share the details of our recent property purchases and the strategy behind our growing property portfolio. Over the past few weeks, Emily, my wife, and I have been busy acquiring two new properties, and we're eager to take you on this journey with us.

Our Property Journey So Far:

To provide some context, let's rewind to the beginning of our property journey. In 2018, we purchased our first property, an $800,000 home on the north side of Brisbane, with the intention of turning it into an investment. Through renovations and renting out rooms, we were able to save up more money and access equity to purchase our second property, a "Baby Queenslander" in Everton Park.

After renovating the Baby Queenslander, we were able to purchase our own home, a Triple Gable Queenslander, which we're currently in the process of renovating. By the end of 2021, our property portfolio had grown to around $3 million, including the unit block we purchased in Coffs Harbour in late 2021.

The Recent Purchases:

Fast forward to 2024, and Emily and I have decided to re-engage in our property investment journey. In the span of just three weeks, we've made two new purchases:

1. The Bray Park Bomb: Situated on the north side of Brisbane, we purchased this property for $640,000 and are currently undertaking a renovation, including adding a granny flat. We expect to spend around $50-$60,000 on the house renovations and an additional $75-$90,000 on the granny flat.

2. The Shailer Park Property: Located on the south side of Brisbane, this property was purchased for $855,000. It boasts a 1,000+ square meter block with subdivision and granny flat potential. We plan to rent out the property for the first 12 months and then explore the subdivision or granny flat option.

The Driving Factors:

The key reasons behind these purchases are to continue growing our property portfolio and capitalise on the current market conditions. As a buyer's agent, I'm constantly exposed to the deals available in the Brisbane market, and when the right opportunity presents itself, we're ready to take action.

To prepare for these purchases, we worked closely with our mortgage broker, Nevada from Cube Home Loans, to refinance our entire property portfolio. This allowed us to access additional equity and liquidity, which we then used to secure these new properties.

The Importance of Taking Action:

One of the critical factors in our success has been our willingness to take action when the right opportunities arise. We understand that there's no such thing as a "perfect" deal, but by solving problems and creating solutions, we can add value and grow our portfolio.

Our strategy has been to focus on growth first and cash flow second. By building a strong asset base through value-adding renovations and capitalising on market growth, we've been able to refinance and access the cash needed for future purchases.

Looking Ahead:

With these two new properties in our portfolio, our plan is to focus on adding value through renovations and potential subdivisions over the next 12 months. We may also consider a commercial investment, such as a motel, or explore other opportunities that align with our long-term goals.

Ultimately, our property journey is not just about building wealth; it's about creating a balanced lifestyle that allows us to spend more time with our family and pursue our other passions, such as travel and personal projects.

We're excited to share this update on our property journey and the recent purchases we've made. By taking action, leveraging our experience, and staying focused on our long-term goals, we're continuing to grow our property portfolio and create a secure financial future. We hope this blog post has inspired you to take the next step in your own property investment journey.