The first thing I did was arrange for several property appraisals. They differed wildly, so we agreed on what she thought was the minimum she’d be willing to accept, and formulated a Plan B which would involve renting out her home if it didn’t reach reserve and moving to more affordable digs. Fortunately, the property sold at the top end of the market and she was able to pay off the mortgage while walking away with $40,000. Even though it was the best case scenario, to Laura, it still didn’t seem like much. What Laura didn’t realise was, that’s all she needed to put an investment plan in motion.
“Adam’s advice was invaluable. He knew exactly where to invest so I would get a great return and never find myself in the same situation as before.”
I was able to source and secure a $380,000 house and land package in the growing north east of Perth. Construction on the house had already commenced, so Laura was able to settle it and secure tenants 33 days after signing. The property is now valued at. The property is now valued at $410,000 and Laura is earning $430 in rent each week - $50 more than the projected rental of $380 she was originally expected.
“I was very lucky. In just over 6 months Adam took me from struggling to pay for groceries, to living debt free with a regular source of cash flow.”
With the income she has earned from this investment, combined with her lower cost of living, Laura has been able to use the equity in her first property to secure a second home also in Perth. She is currently saving for her upcoming wedding and building capital to put towards buying her next home in Canberra. Most importantly of all, she now knows that when she’s ready to start a family, life won’t hold her back.