How A Young Couple Bought 22 Properties In 3 Years
“Our rental income is now higher than the income from our jobs, which is great”
Emily and Luke. Sydney, Australia
Emily Sharp, 26, Marketing and Luke Rogers, 26, Public Sector
Key Achievements with Binvested
Number of properties with Binvested: 22 properties
Current Binvested property total worth: $5.8 million
Current Binvested property net worth: $2.2 million
Current Binvested property rental income: $5,700 per week
Duration with Binvested: 3 years
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Luke Rogers and Emily Sharp were motivated to rethink their property investment strategy. Luke had a property before coming into the relationship that was not a good performer and would not assist in reaching his goals. Emily’s property was not a bad performing property however the rental yield was low and bought without long term strategy in place.
This property initially seemed attractive due to its low price, however the rental return was mediocre and the property had little appreciation. They knew that if they were going to grow their property portfolio successfully, they needed help. Luke says, “I realised I wouldn’t achieve the lifestyle I wanted by buying properties like that again so I started researching how other people made money in real estate”.
After some research, Emily and Luke enlisted the help of Binvested and were able to redesign their property investment strategy. Luke says that Binvested taught them that “the trick is to have equity in the home the day you purchase it. You then take out that equity to buy your next properties”.
The initial properties they purchased via Binvested all met the following criteria: good upside for growth, good cash flow and purchased below market value.
Applying their new strategy, Emily and Luke began treating every property as a stepping stone to the next, each had a particular objective. This strategy enabled them to buy 19 properties in a single year.
The first property they purchased through Binvested was a two bedroom unit in Gladstone, which was negotiated down to $150,000 and returned a rent of $195 per week. Soon after settlement Emily and Luke asked for a revaluation from their bank. The new valuation was $230,000. They refinanced the loan and withdrew this equity to fund the purchase of their next property, a process which they repeated several times throughout the year.
Emily and Luke credit the team at Binvested with opening their eyes to their own potential. Luke says that prior to the Binvested MAP session, “my ambition was to have one or two properties by the end of my life. I really didn’t know exactly what I was able to achieve”.
Emily says that before Binvested, “I really didn’t have much of an idea about property investment. However it became really clear that in order to do the journey properly you need a team behind you. You need to stop trying to know everything about everything. In the end you will learn more by having a go”.
Luke agrees, saying “the one thing you learn is that you are never fully ready, so you either do it or you don’t. Nothing ventured is nothing gained”.
As for their current position Emily says “Our rental income is now higher than the income from our jobs, which is great. We are at a point where we are happy with our portfolio however we want to pay down some debt by flipping some developments through Binvested. Our end goal is to have $250,000 in passive income after all expenses”.
In a climate where the odds of success in property are stacked against young Australians, Emily and Luke were able to apply sound strategies in order to build a large portfolio.
Emily and Luke feel that their property investment journey is as much about self-development as it is about building wealth. Luke says “The biggest thing we have been able to achieve is not really having a strategy to turning around and having a pretty decent portfolio of 22 properties”.
Emily agrees that success in property investment only comes through hard work. “If you are not willing to make an extra effort to get somewhere in your life, you are probably not going to get there. Don’t give up on something just because someone says you can’t. You have to think outside the square”.
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