Nurse & Sparky Start With $30K, Build 17 Rental Property Portfolio, Make $100K Passive Income!
Vložit
- čas přidán 30. 06. 2024
- Michael & Nicole, a former electrician & nurse respectively on modest incomes, started investing with just $30k. Now they have 17 rental property incomes in under 13 years and make over $100K Passive Income!
I'm proud to call them clients of the Property Investment Accelerator.
💰 Their property portfolio is worth over $7M and they aren't stopping.
In this episode we go into everything you want to know:
👉 As children of hard working immigrants, how they started investing in Australian property?
👉 Their biggest MISTAKES, off-the plan-units property, the sales pitch about "depreciation"
👉 The "aha" moment when Michael's first property made him MORE MONEY than his job in under 1 year!
👉 The "tiered-value-add" STRATEGY that transformed their journey?
👉 How they bought a property MID-FLIGHT on a plane to America?
👉 How they found themselves property rich (8 by 2018) but HUGELY NEGATIVELY GEARED by the time they had their first child!
👉 Why hiring a BUYERS AGENT to buy a commercial property was a big MISTAKE?
👉 How they now don't need "boots on the ground" for INTERSTATE investing
👉 Their biggest advice to experienced investors who have NOT got the expected results from property investing!
✨ This is a grass-roots interview - pure, honest & raw!
❤️ I'm incredibly proud of them and humbled by their achievements, especially the mindset to constantly pivot and solve problems to achieve success.
#propertyinvestmentaccelerator #pkgupta #consultingbypk
Chapters:
00:00:00 - Introduction to Successful Property Investing
00:08:24 - Investing in House and Land Packages
00:16:49 - Stumbling upon a Distressed Property
00:24:48 - Researching Property Investment
00:33:33 - The Fruitful Experience of Rooming Houses
00:41:47 - Value Add Strategies in Real Estate
00:49:18 - Starting a Buyer's Agent Business and Streamlining Processes
00:57:09 - The Role of Financial Planners in Real Estate Investing
01:04:54 - Strategies for Success in Real Estate
01:12:16 - Thank You for Your Support
LEARN MORE 👇
💡 I Help People Achieve PASSIVE INCOME Through Property Investing Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, WITHOUT Wasting Months Doing "Research", Spending Weekends At Inspections OR Dropping $15k On Buyers Agents Each Time 👉 consultingbypk.com.au
❤️ JOIN THE COMMUNITY & GET FREE SUBURB TIPS + STRATEGIES
💡 Private Facebook Group With Over 40,000 Clients & Investors 👉 bit.ly/3dCSefm
💡 Top Ranked No "BS" Podcast On Spotify/ iTunes/ Google 👉 bit.ly/3UAetTK
🎬 MUST WATCH VIDEOS
💡 How I Built My $12,000,000 Property Portfolio By Age 33 👉 bit.ly/3zj0f0f
💡 How I Bought My $3,000,000 Dream Home Debt Free 👉 bit.ly/3Skrzms
💡 My Portfolio & Net Worth Break Down 👉 bit.ly/3Zu4sZN
💡 Buy Property Now Or Wait? 👉 bit.ly/3r6B8cI
💡 100+ Client Interviews 👉 bit.ly/3S9FITI
📥 MESSAGE ME!
💡 Instagram 👉 bit.ly/3SpC4ET
💡 Facebook 👉 bit.ly/3dEvHyO
💡 LinkedIn 👉 bit.ly/3ByOweG
💡 TikTok 👉 bit.ly/3RchwhX
💡 X 👉 bit.ly/3IJwgE5
DISCLAIMER: No Legal, Financial & Taxation Advice
The Listener, Reader or Viewer acknowledges and agrees that:
• Any information provided by us is provided as general information and for general information purposes only;
• We have not taken the Listener, Reader or Viewers personal and financial circumstances into account when providing information;
• We must not and have not provided legal, financial or taxation advice to the Listener, Reader or Viewer;
• The information provided must be verified by the Listener, Reader or Viewer prior to the Listener, Reader or Viewer acting or relying on the information by an independent professional advisor including a legal, financial, taxation advisor and the Listener, Reader or Viewers accountant;
• The information may not be suitable or applicable to the Listener, Reader or Viewer's individual circumstances;
• We do not hold an Australian Financial Services Licence as defined by section 9 of the Corporations Act 2001 (Cth) and we are not authorised to provide financial services to the Listener, Reader or Viewer, and we have not provided financial services to the Listener, Reader or Viewer.
#PropertyInvestment #PassiveIncome #Australia #RealEstate
![SIX DEADLY MISTAKES [Avoid] - IT Consultant Loses SIX Property Portfolio! | Australian Investing](http://i.ytimg.com/vi/5KrwcuJL8D4/mqdefault.jpg)
❤ JOIN THE COMMUNITY & GET FREE SUBURB TIPS + STRATEGIES
💡 Private Facebook Group With Over 40,000 Clients & Investors 👉 facebook.com/groups/passiveincomethroughproperty
💡 Top Ranked No "BS" Podcast On Spotify/ iTunes/ Google 👉 consultingbypk.com.au/podcast/
Amazing episode. Great to hear from a more active investment strategy, and thank you so much Michael and Nicole for sharing your journey and mistakes 🙏
One of the best interviews PK has done.. really kudos to you guys and thanks for inspiring 😊
Thanks mate
Appreciate the kind words!
Great interview, really enjoyed hearing from people who had normal careers and have multiple kids
I hope the next interview is someone who built a portfolio while being single, with no kids and on average salary
Were glad you enjoyed the interview and appreciate the kind words.
Great content! Hearing Michael and Nicole's journey was a good eye opener and very motivating.
I’m glad!
Thankyou, we’re glad you found it motivating!
Awesome conversation! Thank you for sharing all your experiences and knowledge 😁 cant wait to get to your level!
thanks for watching!
Thank you for the kind words! If you keep at it , surely you too will harvest the benefits of your efforts.
the granny flat you added - first house, how did you have sepearte tenanst without subdivision? i mean the main tenants would have to pay for the grany flat's usage of water/power -please let me know?
Great question - so in NSW, you can add whats called a granny flat or second home to your property without a DA or subdivision, simply by getting a CDC (Complying Development Certificate). It's a faster, simpler process if your project meets certain government rules.
While planning for our granny flat, we made sure to check whether we could separate all the utilities (gas, electricity, water, etc.) as this was important to us to keep things separate for both sets of tenants.
After we got the CDC approval, the granny flat got its own address, and we could get separate bins for it.
As for the construction phase, we decided to cover the tenants' water and electricity costs as a gesture of goodwill, because they were great tenants and we wanted to keep them happy.
Off-the-plan properties are riskier but it doesn't mean that are all bad investments, same as investing in anything else, do your research and make a mindful decision
Great story! PK can you show some single income individual successes?
Yes I have previously, loads on them, check them out!
Till debt do us part.
Good debt allowed me to exit 9-5. Now I am debt free. Good debt is not the same as bad debt
Everyone's got their own level of comfort with risk. We're okay with having “good debt” if it means our money's working harder for us.
But, some people just sleep better at night knowing they're totally debt-free.
They have $3mln in equity. Nice buffer.
I have a question..With regards to rooming house were they successfull in suburbs? I have been wanting to delve into this for a long time
Are your asking whether our rooming house conversion was a success? If so, the answer is yes. All four rooms are leased out.
This is largely due to the location having a high demand for affordable housing, near educational centers and major employers, where rental options are typically scarce.
Whilst there was a fair bit of research and careful planning, it was certainly worth the effort!
changing to a trust or company - what the proecss and rough costs?in vic
We’ve actually transferred one of our properties in Vic before. Here’s a simple breakdown:
1 - Before deciding on transferring a property, speak with your accountant first to see if it financially makes sense. Often, it might not be beneficial unless the property generates a lot of cash flow.
2 - You’ll need to consider several costs, such as stamp duty, capital gains tax, depreciation payback, legal and bank fees. It’s super important to figure out how long it will take to recoup these costs, this is where a good accountant comes in handy.
3 - If it looks like a viable option, get your lawyer to manage the transfer and your broker to arrange the finance. Then, you proceed with the transaction as you would with any standard property deal.
If it's appropriate, electricians and nurses aren't on modest wages. That aside, anyone can do this regardless of their income level.
Stop buying ciggies, grog, takeaway food and all the other waste.
The problem is that Australians, that mostly Chinese from non immigrant families are entitled. The believe certain things are a right and a given. That's why we have the huge problem of the welfare state.
did you use your own names or you bought this under company ?you created two directed?
A combination of both.
Yeah but how much income after expenses?
Six figures net