[THE VAULT] 20 YEAR OLD MAKES $100K A YEAR ON THE SIDE
This week, Nathan takes us on site to a property he purchased for a first home-buyer of only 20 years of age.
YOUNG MAN STARTS INVESTING TO EVENTUALLY BUY DREAM HOME
This man was the son of an established client, who wanted to buy his first home, but knew he needed to think outside the square.
In 2016, he purchased a two-bedroom villa in the Central Coast of NSW for just $280,000.
Now, in 2017, this property is worth no less than $380,000 – netting him $100,000 in 12 months! Not bad for a 20 year old.
THIS PURCHASE IS PAVING THE WAY FOR A SYDNEY HOME
The client aimed to use the equity to fund a project build in Sydney as part of a Binvested bulk deal.
Now that he has earned $100,000 in capital gains, the man is already on his way to home-ownership after beginning his portfolio just 12 months ago.
DON’T LET EMOTIONS GUIDE YOU
Some may look at this property and see a villa when they want a house, or an unappealing street when they want a prime address. However, Nathan says he looks at this property and sees $100,000 in capital gains.
IT’S ALL IN THE STRATEGY
Nathan recalls that he didn’t even own his own house when his investment portfolio reached 150 properties.
Now, he has just had the plans for his dream house build approved. He will soon live in a 2,200 square metres mansion. This is something he couldn’t have if he tried to buy a personal home straight away.
In other words, you can’t expect to buy your dream home at the start of the journey – unless your dream home is a run-down shack in the middle of nowhere.
By setting a strategy in place, you will increase your chances of making home-ownership a reality – and a kick-ass one at that.
Have you used investment equity to buy a personal home? Please share your experiences in the comments section below.