PHOTO: $20 million property portfolio
Back in 2009, young Sydney couple Scott and Mina O’Neill were working towards buying their first investment property, ready to re-think the traditional means of property ownership and shake up the market.
In their early twenties at the time, they were working numerous part-time jobs to save for a deposit bartending in nightclubs, working in retail and cleaning cars at dealerships, before managing to save around $60,000.
They secured a loan in 2010 after landing full-time jobs and they bought a house and granny flat in Sydney for $480,000, with a return of $660 each week.
Today that same property rents for $1000 per week and is worth over $1.1 million.
Over the next 10 years they continued to build their business and wealth by strategically purchasing properties that had good cash flow and capital growth. This strategy allowed them to build a portfolio worth around $20 million dollars, shared between 32 separate properties.
It was also the start of their business, buyers agency Rethink Investing.
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