{"id":42562,"date":"2023-03-13T11:17:53","date_gmt":"2023-03-12T22:17:53","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42562"},"modified":"2023-03-13T11:17:53","modified_gmt":"2023-03-12T22:17:53","slug":"from-recruiter-to-rentvestor-five-properties-by-age-of-31","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/from-recruiter-to-rentvestor-five-properties-by-age-of-31\/","title":{"rendered":"From recruiter to rentvestor: five properties by age of 31"},"content":{"rendered":"

PHOTO: Young property investor Lorna Wang attributes her mother’s hard work and selflessness to her own financial self-discipline.<\/strong><\/p>\n

REPUBLISHED WITH PERMISSION | API MAGAZINE<\/a><\/p>\n

Young property investor Lorna Wang has used her day job and a simple strategy of saving and buying well-located affordable properties to build an impressive real estate portfolio spanning four states.<\/p>\n

t the age of just 31, Lorna Wang has built a real estate portfolio comprising five properties across four states – all while living in a share house with friends.<\/p>\n

From humble beginnings, Ms Wang has gone from listening to planes roar above her home beneath a flight path to soaring with a property portfolio that will ensure a lifetime of financial security.<\/p>\n

\u201cI\u2019m a first-generation Australian and our parents didn\u2019t come to this country with much and took on whatever jobs were available to them.<\/p>\n

\u201cMy mum initially held two jobs when she first arrived, one as a machinist during the day and another washing dishes\u00a0at a restaurant at night where\u00a0she was paid $3 per hour back in the mid-80s.<\/p>\n

\u201cAfter years of saving, my mum and aunty scraped together a deposit and purchased an old house in\u00a0Sydenham\u00a0in the late 80s, which was a major flight path for Sydney Airport but that\u2019s what they could afford at the time.\u201d<\/p>\n

Realising at a young age that saving every cent was only part of the journey towards prosperity, Ms Wang has accumulated her four houses and a unit in an industrious seven-year period.<\/p>\n

Lorna Wang\u2019s national property portfolio<\/strong><\/p>\n\n\n\n\n\n\n\n\n
Suburb<\/th>\nState<\/th>\nType<\/th>\nPurchase date<\/th>\nPurchase price<\/th>\nCurrent value<\/th>\n<\/tr>\n
Yagoona<\/a><\/td>\nNSW<\/td>\nUnit<\/td>\nApr 2014<\/td>\n$367,000<\/td>\n$485,000<\/td>\n<\/tr>\n
Clovelly Park<\/a><\/td>\nSA<\/td>\nFreestanding house<\/td>\nOct 2019<\/td>\n$395,000<\/td>\n$615,000<\/td>\n<\/tr>\n
Eastern Heights<\/a><\/td>\nQLD<\/td>\nFreestanding house<\/td>\nMar 2020<\/td>\n$349,000<\/td>\n$520,000<\/td>\n<\/tr>\n
North Bendigo<\/a><\/td>\nVIC<\/td>\nFreestanding house<\/td>\nSep 2020<\/td>\n$360,000<\/td>\n$560,000<\/td>\n<\/tr>\n
Parafield Gardens<\/a><\/td>\nSA<\/td>\nFreestanding house<\/td>\nJan 2021<\/td>\n$380,000<\/td>\n$550,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A work ethic instilled in childhood and a subsequent career in recruitment provided the base to make that all-important first property purchase but the investment journey didn\u2019t get off to the smoothest of starts.<\/p>\n

\u201cGrowing up in a single-parent household on welfare, we had the basic necessities but as the eldest, I wanted to help take care of my family and so I started working at the age of 15.<\/p>\n

\u201cNot having much meant that I valued financial security and started saving what I was earning.\u201d<\/p>\n

With practically no knowledge about the property market and\u00a0being, by her own admission, \u201ctotally na\u00efve\u201d, she bought her first property at the age of 22 after hearing that Sydney was going through a boom.<\/p>\n

\u201cI remember my hand was shaking as I was signing the contract of sale while the real estate agent was watching me bemused.<\/p>\n

\u201cReflecting back on that purchase, it was actually a mistake and it was only after holding it for several years that I realised the huge opportunity cost that slipped by.<\/p>\n

\u201cIn the coming years after that first purchase, I picked up bits and pieces of knowledge on property but I knew there was so much more to it that was beyond my ability to confidently buy again.<\/p>\n

\u201cI was stuck between the fear of buying another mistake and wanting to buy another property to grow my wealth.<\/p>\n

\u201cMy frustration led me to seeking out a buyers agent, InvestorKit, and with the added confidence of professional advice I embarked on an\u00a0aggressive acquisition phase.\u201d<\/p>\n

Rentvesting to the rescue<\/strong><\/h2>\n

Despite now owning properties around the country, Ms Wang has continued to rent in Sydney\u2019s inner south, sharing a house with friends and enjoying a short work commute and vibrant social scene.<\/p>\n

She pointed out\u00a0that by rentvesting, she could live in an area she\u2019d otherwise be unable to afford while putting her financial resources towards more affordable property investments.<\/p>\n

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Women comprise 63.5 per cent of all single parents, endure a pay disparity against men and have far lower superannuation balances but rentvesting offers a pathway into the property market.<\/p>\n<\/div>\n

\u201cMost people my age are renting because of Sydney\u2019s housing unaffordability.<\/p>\n

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Profile your business (for 12 months) \u2013 ONLY $499 INCL GST<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cLiving in a share house gives me flexibility and lifestyle and I now feel pretty settled where I\u2019m at with life but I\u2019m not ready to permanently settle down, so in the meantime I have my investments working in the background for when I am ready.\u201d<\/p>\n

There were some sacrifices made along the way, with some missed experiences far outweighing any material sacrifices but a focus on financial self-discipline has paid rewarding dividends.<\/p>\n

\u201cLifestyle creep is probably the biggest obstacle to overcome.<\/p>\n

\u201cWe all get tempted to upgrade or buy nicer things and especially when you start to have some good disposable\u00a0income it\u2019s easy to get carried away.<\/p>\n

\"Karl<\/a><\/div>\n
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INFAMOUS real estate agent was caught breaching his bail conditions<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cUpon reflection, thankfully there aren\u2019t many things that I regret giving up; none that are material possessions but maybe one or two experiences that were set aside.\u201d<\/p>\n

\u201cBuilding a successful career over the course of seven years was an amazing time in my life and I was able to achieve financial success but I knew that at some point I was going to leave that behind so I started to make plans on how I could comfortably walk away from it all, whether that was to change organisations, change careers or a desire to go into motherhood for a few years.<\/p>\n

\u201cWhatever it was, I knew I needed to make the most of the opportunity I\u2019d created.\u201d<\/p>\n

Keeping it simple is key portfolio strategy<\/strong><\/h2>\n

While her assets are in South Australia, Queensland, Victoria and her home state, spread across suburban and regional areas, the overarching strategy is relatively simple.<\/p>\n

The homes were all priced below $400,000 and deliver capital gains and decent rental yields.<\/p>\n

\u201cThere is a lot on the line when purchasing property and it\u2019s about minimising the risk of getting it wrong, because it can go really wrong.<\/p>\n

\"Mortgage<\/a><\/div>\n
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Why some Australians may be forced to sell the properties they just bought | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cBefore each purchase, I sit down with the buyers agent and review my holdings and work on what the next purchase might be.<\/p>\n

\u201cFrom my experience, you can have a solid rental yield and good capital growth but it\u2019s just about finding the right market to be able to achieve that, and that\u2019s what takes a certain level of skill, from finding accurate and relevant research data from a macro and micro level, to interpreting, analysing and understanding it.\u201d<\/p>\n

All of Ms Wang\u2019s properties are managed by property managers, and for now acquisitions are on hold while she reassesses her own financial risk profile and the wider market\u2019s reactions to interest rate increases and other variables.<\/p>\n

\u201cI liken my property portfolio to a side hustle, where there is a little bit of work that goes into it from time to time but it doesn\u2019t dominate your schedule.<\/p>\n

\"Tiger<\/a><\/div>\n
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Tiger\u2019s\u2019 ex-girlfriend KICKED OUT of MANSION accusing him of \u2018shocking<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cI review my portfolio yearly to see how I\u2019m tracking but right now I\u2019m in that optimisation phase so there\u2019s not a lot I need to do,\u201d she said.<\/p>\n

As for the future, Ms Wang said it\u2019s less about compiling a huge portfolio and more about ensuring life is comfortable and choices are hers to make.<\/p>\n

\u201cI feel like my goals are ever-changing but the main thing is having a large safety net and my property portfolio will hopefully allow me to have options and that in itself is a\u00a0privilege many don\u2019t have.\u201d<\/p>\n

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