“A bit of sacrifice gets you a long way”

Paul Wright | Manager & Rachel Wright | Business Owner | Late 20s | Kelmscott, WA

The strategy
Our story begins about eight years ago, when we decided that we wanted to set ourselves up for the future.
We worked out the best way to do this and decided that investing in property was the way to go. Rachel and I started by buying our first block of land 8 years ago. We managed to pay that one off in less than 2 years, but not without a lot of sacrifice.

In order to pay off the block of land so quickly we lived on only my wage, which as an apprentice at the time was only 20K a year and put all of Rachel’s wages into the mortgage. We also gave up having a home of our own and became house sitters for other people, meaning that we lived a nomadic lifestyle moving from home to home as required and saving on paying rent.

This was a huge sacrifice as we couldn’t afford the luxury of setting up our own home with our own things how we like it and have the restful sanctuary that is so important these days.  

The sacrifices
Paying off the loan so quickly released some capital to enable us to now build on the block of land. Once we had built our home, once again we had spare capital to purchase our first investment property. After reading a lot about property investing and how it can make us money, I hopped on the internet and the first site I saw was for Property Wizards, this was about 2 years ago now.

Rachel and I called them for a meeting. We discussed our position and what were hoping to achieve; we had a tight budget to invest. They said that we would be best looking for a property that was going to give us maximum capital growth and with our budget we should look in a suburb where there is planned rezoning.

We signed up, confident that they would find us the right property and sat back and waited. It wasn’t very long before Property Wizards found us something. They found a property which was a corner block in an area where the council was increasing the zoning, meaning that potentially this block of land would become a 2 unit site.

We have had tenants in there the whole time and the rent has gradually gone up with the market increases, recently we had the property revalued and it has gone up $150k in just 2 years. That is without even doing a subdivision and selling off the additional block! That is just from engaging the experts who bought us a brilliant piece of property in the right area, at the right time, for the best price and sitting on it.

The rewards
We now own three properties, one which is our family home, the second is 100 % negative geared and costs us nothing at all, if anything we actually made a profit, in last financial year. The third property we bought will cost us nothing at all for the next two years and once that time is up, we will get it revalued and it should continue to pay for itself.

We have and will continue to use Buyers’ Agents and look forward to working with Property Wizards in the future. The expertise, knowledge and savvy they have, gave us and can give you peace of mind that they are going to get the best possible purchase for you and your money

Eight years later we really are in a great position, I have been promoted to a manager level at work, my wife is able to be a stay-at-home-mum with the option to work if she chooses. We don’t have to stress about money and our kids get the benefit of always having their parents around.

Our portfolio is looking very healthy, having accrued a balance of over 1.5 million dollars in just 8 years and still being very young, Rachel and I feel secure and set up for the future. It is nice to know that we are able to live the life we want, provide for our children comfortably and retire at a much younger age than the norm.   

Our sacrifice now seems small compared to the rewards we have received and will continue to do so in the years to come.

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