Young Family Buys 8 Investment Properties Within A Year! Now Aiming For Their Dream Home.
“There’s no way we would have gotten 7 properties and a block of land in a year, doing it ourselves. We realised with the deposit we had, we could get a lot more property with Binvested, rather than going on our own.”
Karl & Romina, Sydney Australia
Name, age, occupation: Karl Dreizner, 38, Dental Prosthetist and Romina Dreizner, 38, Retail Manager
Starting savings: $120,000
Starting equity: $200,000
Achievements With Binvested
Number of properties with Binvested: 8
Current Binvested property net worth: $369,000
Current Binvested property rental income: $1,090 per week
Duration with Binvested: 1 year
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Karl and Romina’s Story
In 2015, Karl and Romina Dreizner had just had their first child and wanted to buy a family home however the couple found that they could not afford the mortgage on their desired home.
Karl and Romina considered buying and then renting the house out until they could move in. However, they realized that even with the rental income, the high costs would mean they’d still be paying for someone else to live in their home!
Having just started a new family, Karl and Romina wanted to have more financial freedom and options. They did not want to be locked into crushing debt. It was when facing this brick wall that Karl came across Binvested while listening to the founder, Nathan being interviewed on 2GB radio.. Karl realized he and Romina could invest in positively geared properties to eventually buy their dream home, without the financial strain.
Although Karl had some success with previous investment properties, the team at Binvested helped him to develop a strategy to identify the most profitable types of houses to invest in.
Karl says, “I was doing an ok job on my own, but I didn’t know what properties to get. I really wasn’t sure if I was doing the right thing. It was good to be steered in the right direction, and to have that confidence in what I am doing. Without Binvested I wouldn’t have had the same level of capital return or cash flow. I would have had some capital gain but I wouldn’t be able to move forward and grow like I have been doing”.
Using Binvested Karl and Romina purchased a renovated two bedroom unit for $320,000 which had a market value of $350,000. The unit had a rental income of $290 per week. Three months after settlement the bank revalued the unit for $350,000 and they refinanced their loan to withdraw the equity.
They used this equity as a deposit for their next property and repeated the process to buy five properties within a year. The Dreizner’s are now using Binvested to purchase land and develop a house at below market value, to later sell for a profit and pay down debt on their portfolio.
Using the Binvested property investment strategy Karl and Romina have increased their borrowing capacity from $1.2 million to $2.2 million and purchased 7 properties and a block of land within 12 months.
When it comes to the motivation behind his bold investment moves Karl says, “I really decided to go as hard as I can. Romina and I have just started a family in the last few years and we hope to get our own house in 5 years. We also want to be able to go on holidays with them when they are older. We believe that the delayed gratification and sacrifice will pay off”.
Romina, is currently on maternity leave with her second child and sees herself already reaping the rewards. “I was at working and five months pregnant when we started doing this. At this stage I am not going back to work. Karl is planning this so I can stay at home”.
Karl admits Romina has her deal of apprehension going down the investment path. “She is a little bit more cautious than I am. She wants to have buffers to make sure we don’t get into trouble. Binvested have really put things into perspective, if things hit the fan then we have exit strategies”.
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