You may not remember me but I contacted you earlier this year through your website seeking a bit of inspiration about what next step to take. My husband and I are both teachers, my husband was a painter and decorator prior to retraining as a teacher.
We have a 2×2 bedroom flats under one unit title in [...] which was valued at $430k – we bought it for $300k seven years ago with 18k deposit. They are currently renting for a combined total of $530 p.w.
We had attempted to sell them twice with no luck and after spending the equivalent time renting in [...] – more recently with a young family we took your advice and leveraged off the equity in our property to purchase on 100% finance a 3 bedroom do up in [...] for $380k on over 800 sqm site.
When we first bought it for the first time in 7 years one of our flats was unrented for 6 weeks, we scraped through somehow and are now working at a motivating pace with decorations.
We have no extra $ at present to do major work but it is amazing how a coat of paint transpires a house.
I wish to thank you for pushing us into taking a chance and pushing ourselves to do this even though financially its tight. We are stretched to the limit at present but once my hours increase next year we can pull out more money for essentials and hopefully sell [...] in due time and reinvest up here.
And as a bonus we landed in an up and coming area with a peek of the sea and amazingly, enough room out the back to sub-divide in the future if we wish too.
Thanks heaps Olly – simple words of encouragement do change peoples lives.
Michelle [surname withheld]