{"id":40733,"date":"2022-11-03T12:45:31","date_gmt":"2022-11-02T23:45:31","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=40733"},"modified":"2022-11-03T12:45:31","modified_gmt":"2022-11-02T23:45:31","slug":"broke-mum-reveals-how-she-got-six-homes","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/broke-mum-reveals-how-she-got-six-homes\/","title":{"rendered":"Broke mum reveals how she got six homes"},"content":{"rendered":"

PHOTO: Christina Foxwell: REALESTATE.COM.AU<\/strong><\/p>\n

A once penniless Sydney mum forced to survive on kitchen scraps has revealed the home buying tactics that got her a multimillion dollar property portfolio – without getting buried in debt.<\/p>\n

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Christina Foxwell had endured abuse from a partner \u2013 who she said once choked her against a wall, habitually spent her money and left her contemplating suicide \u2013 when she decided to change her life.<\/p>\n

\"Gold<\/a><\/div>\n
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Smallest ever lot in the GOLD COAST listed for sale<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n

Fast forward to today and the once penniless northern beaches mum, 48, has built an unlikely property empire worth millions that she expects will put her in a position to retire early.<\/p>\n

Her investment portfolio includes six properties spread around the country, with an additional property purchase in the pipeline. She\u2019s also established her own business.<\/p>\n

Ms Foxwell said the portfolio costs her virtually nothing to keep, with the\u00a0rents paying all her mortgage obligations. One property recently doubled its value from when she bought it five years ago.<\/p>\n

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\"Her<\/div>\n

Her first investment was this house in regional NSW.<\/strong><\/em><\/div>\n

It\u2019s a turn of events that she said has surprised even her given she was once down to her last $5 and living off kitchen scraps in South Africa before a career break helped her get a working visa in Australia.<\/p>\n

It was a chance to start again that nearly ended as soon as it started. Three months after relocating to Sydney in 2008, the company that sponsored her visa was forced to make sweeping job cuts.<\/p>\n

\"The<\/a><\/div>\n
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The Block\u2019s worst nightmare: Emotional finale trailer hints some homes WON\u2019T sell at auction | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

Still surviving mostly on the pension she had cashed out to fund her relocation from overseas, she was laid off from work and left with weeks to find new employment.<\/p>\n

And without a company that would sponsor her a new visa, she would be forced to return to South Africa.<\/p>\n

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\"Ms<\/div>\n

Ms Foxwell also has a unit in this building in Kelvin Grove in Queensland.<\/strong><\/em><\/div>\n

Ms Foxwell details in her new book Glass Angel that her time in her home country was difficult.<\/p>\n

At a young age, she found herself in an abusive relationship. \u201cHe was unbelievably controlling,\u201d she said. \u201cHe\u2019d choose your meal, your clothes. His temper was out of control \u2026 I was his trigger.<\/p>\n

Ms Foxwell said after one argument, he choked her up against a way.<\/p>\n

Another flashpoint was alleged to have come during a different argument, which she said ended with her ex dragging her by her hair across their house.<\/p>\n

\"The<\/a><\/div>\n
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The Block may have shot itself in the foot<\/a><\/h2>\n<\/header>\n<\/div>\n

Ms Foxwell said she remembered blaming herself at the time. \u201cHow do you tell people about that? It was embarrassing. I felt shame.<\/p>\n

\u201cI had always wanted to feel accepted and loved. With him I kept thinking, \u2018maybe if I love you more, you will treat me better.\u2019 \u201d<\/p>\n

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\"Another<\/div>\n

Another of her investments, this time in the Newcastle area.<\/em><\/strong><\/div>\n

She eventually left the relationship but with little money. She said she drifted the next few years in and out of relationships before a messy break-up left her with no permanent residence.<\/p>\n

\u201cI was once down to just 10 Rand (equivalent of $5 at the time),\u201d she said. \u201cWe had some feta cheese and toast left. And all I could get from the shop was bread.\u201d<\/p>\n

Ms Foxwell said her luck changed when she managed to get a job with a multinational company that paid her better money and allowed her to attain valuable experience.<\/p>\n

She met a Canadian living in Sydney on a business trip and after forming a romantic connection decided to move to Australia to be with him.<\/p>\n

She had to lean on him when she lost her job shortly after arriving in Sydney and he was instrumental in setting up her later investment portfolio.<\/p>\n

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What happened during past market downturns?<\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n

\u201cI was lucky to find another job in a few weeks,\u201d she said, adding that her now husband John, an accountant, also introduced her to her current financial planner, who encouraged her to invest in property.<\/p>\n

Ms Foxwell bought her first property in NSW town Orange within a year of arriving in the country. Her partner came up with the deposit and she contributed to the financing.<\/p>\n

They followed it up with a purchase in Newcastle in 2011, which they funded with savings. They bought an apartment in Brisbane shortly after.<\/p>\n

Other purchases included properties in Sydney suburbs Warriewood and Frenchs Forest and another unit in Brisbane.<\/p>\n

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\"One<\/div>\n

One of her properties recently doubled in value.<\/strong><\/em><\/div>\n

She said they were able to purchase the properties with an aggressive savings strategy and by buying in\u00a0high growth locations\u00a0with\u00a0high rents. This meant their equity position quickly improved and their holding costs were low, allowing banks to continue issuing them loans.<\/p>\n

They also used the tax system to their advantage, further reducing their holding costs.<\/p>\n

She would not disclose her exact equity gains but said they were worth \u201cmillions\u201d because most of their purchases were made before a recent boom in property prices.<\/p>\n

Ms Foxwell credited her successes with investing and establishing her business to a change in mindset.<\/p>\n

\u201cI had felt broken. I felt ashamed my life wasn\u2019t the white picket fence,\u201d she said. \u201cBut I realised my life is my story. It\u2019s a gift.<\/p>\n

\u201cThe only way to get rid of the pain is to accept it and release it. You can\u2019t outrun your story. Mine is just part of my journey.\u201dFor 24-hour domestic violence support call the national hotline 1800RESPECT on 1800 737 732 or MensLine on 1800 600 636.<\/p>\n

The Suicide Call Back service is on 1300 659 467.<\/p>\n

Don\u2019t go it alone. Please reach out for help.<\/p>\n

Lifeline:\u00a013 11 14 or\u00a0lifeline.org.au<\/p>\n

Beyond Blue:\u00a01300 22 4636 or\u00a0beyondblue.org.au<\/p>\n

Beyond Blue\u2019s coronavirus support service:\u00a01800 512 348 or\u00a0coronavirus.beyondblue.org.au<\/p>\n

Kids Helpline:\u00a01800 55 1800\u00a0or\u00a0kidshelpline.com.au<\/p>\n

Headspace:\u00a01800 650 890\u00a0or\u00a0headspace.org.au<\/p>\n

Are you anxious? Take the\u00a0Beyond Blue quiz\u00a0to see how you\u2019re tracking and whether you could benefit from support<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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