Young family juggling school fees and property investing!

The next story comes from Paul Thompson who’s a Qualified Property Investment Advisor out of our Melbourne office. This one is another interesting story. Understanding the motivations behind this, is really what’s probably triggered this couple to take action. Without getting into too much personal detail, let’s just say that one of individuals had seen their parents not necessarily do the right thing in terms of putting enough money aside for their future, for retirement, and they’ve got themselves into a bit of a financial pickle.

Now, based on that, they didn’t want to see themselves in that same situation. That is a fairly good motivator for them. We’re talking here about a couple in their late 20s, early 30s, already with two young children, living in Victoria. Professional careers. And I love this story. I love it whenever I get teachers, working in the education industry, because I know the great work that they do and they don’t get rewarded and paid well enough for the great work that they do. Also, the attention to detail, the engineers. They love the numbers as well!

In terms of the obstacle, for me, they’re in a good position. They wanted to make sure that they could maximise the current position that we’re in. They had a really nice principle place of residence, already one investment property in the local market that they were living in. Not expanding themselves and challenging themselves in terms of the best buying opportunities maybe there. They wanted to check in on that story. They did that. On target.

They also were focusing on the school fees for the kids. They wanted to make sure with whatever that they did, they were going to be in a position to have those school fees available, and retire to have plenty of family time. Good story.

What was our outcome? They worked with multiple teams inside of our business, so they’ve done the mortgages, they’ve also done the planning and their using the BA’s, the Buyers Agents to get the purchase done. Three properties is what we’re going to add to their existing one in the portfolio. They’ve got the classic target of $2,000 dollars a week. They want to retire at the age of 60. I think the motivation piece for me has been around seeing what can happen, when it’s not well managed, when you don’t get your affairs in order, and don’t think of the future. They’re not going to end up like one of the parents may have ended up. They’ve now got confidence. They’ve been able to validate themselves on that right path.

I think that’s an important message here — they’re motivated. This couple are goals-driven. Nothing better than having those goals in front of them. They like to work to achieve their goal. For me that’s the perfect recipe. When I see people who are motivated by goals, written plans and they want to go after those goals, I am super confident that this couple are going to be able to achieve those goals. Probably, all going well, sooner than anticipated. I can see this couple as being people who like to exceed their own expectations. Congratulations to them. Good work for Paul in terms of designing this plan for them. I can see that being a great outcome for them over the journey of their property story.

 

See all of the Stories of The Month here

 

There’s obviously a lot more activity that’s happening. We bought 25 properties this month. We did 47 plans. There’s a lot more buying that’s going to go on in marketplaces when other people are fearful. If this is of interest to you, and you want to learn more about the services that we offer here, please feel free. We do an initial free consultation with no obligation at all. You can learn about our services and how we can help you get on the property ladder, but most importantly make sure that you retire wealthier tomorrow.

Thanks for watching.