“Wealth Creation = Property Investment = Filthy Rich”
Robert Jenkins | 44 | English Lecturer | Fremantle, WA
About 6 years ago I started my wealth creation journey. I was in my late 30s and realised that I didn’t really have much to show for all the years I had been working. I had no savings, no property, no real assets and I didn’t see how continuing to just rely on my job would get me much further in life. I was looking for ways to turn this all around.
I wanted to be filthy rich, I wanted to establish charitable organisations that will get kids off the street and into half-way homes, fund indigenous schools, I also wanted a few things for myself like a nice car, nice house and 2 overseas trips a year. In order to achieve all this I knew that I would have to push myself out of my comfort zone.
I did some research into wealth creation and completed quite a few home study courses and seminars with various experts in this field to help me develop a good skill set and knowledge base to move forward in achieving my dream. When I felt ready I jumped into the property market.
I had been doing some research about buying property when I came across Property Wizards in a property investment magazine. I thought that it would be a smart strategic move to work with experts in the field whom I wanted to use as my vehicle to wealth creation and to enable me to increase my knowledge. I decided to work with Property Wizards after reviewing their website and the depth of content available, they knew what they were talking about. I was also able to sit with one of the property advisers and have many in-depth conversations about investment.
It was nice to talk and learn from people who knew what they were talking about.
My investment criteria meant I needed a property that could provide me with capital growth. Property Wizards’ systems soon found me a property which I bought at the peak of the market. I recently had it valued and it had increased in value by 10%, even though the market has softened, which confirms that it was very well priced when I bought it and is definitely the right property. It’s a 3×1 near the ocean and it has all the right growth drivers in place for long term capital growth. It is also rented out, so I have a regular rental income that offsets part of my loan repayments.
In the meantime, with the equity pooled in this investment property and the knowledge I gained from Property Wizards, I was able to purchase more capital growth property and this has brought my portfolio up to three wealth creating assets, which puts me well and truly on track to becoming “filthy rich”.
Once my latest property has finalised I will be looking at buying again, this time it is my time to buy a home of my own in a place where I really want to live, which is in Fremantle. I will be able to move out of my current tiny apartment which I am renting – It will be nice to have some space and independence of my own.
My wealth creation journey isn’t without sacrifice, but I know that it is a sacrifice that will be well worth it in time.
Purchasing these properties has meant I have had financial limitations on the lifestyle I can lead, as once I have serviced the loans on a monthly basis, not much is left for my personal use. However, I have taken a longer term approach and know that in the end, once I have attained my goal of becoming wealthy by building an admirable property portfolio, I will be living an affluent lifestyle doing what I want, when I please and helping people who are less fortunate in life.
If you want more information about property investing, why not read our Property Investing Beginner’s Guide eBook. Or, if you’re ready to talk about buying your first home, why not complete our Getting Started form to get the ball rolling.
If you’re ready to invest and you’ve got any questions about finance, call us for a free Financial Health Check: 08·9381·7450 or download our Finance Services information.